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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2012	Jul. 27, 2012
Entity Registrant Name	FORUM ENERGY TECHNOLOGIES, INC.
Entity Central Index Key	0001401257
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		85,741,088

Consolidated Condensed Statements of Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Net sales	$ 373,512	$ 257,454	$ 737,001	$ 460,506
Cost of sales	250,710	180,262	487,756	324,517
Gross profit	122,802	77,192	249,245	135,989
Operating expenses
Selling, general and administrative expenses	56,205	42,687	111,059	78,880
Contingent consideration expense (benefit)	(4,900)	5,800	(3,900)	5,800
Impairment of intangible assets	1,161	0	1,161	0
Transaction expenses	442	2,341	797	2,616
(Gain) loss on sale of assets	56	(117)	77	(420)
Total operating expenses	52,964	50,711	109,194	86,876
Operating income	69,838	26,481	140,051	49,113
Other expense (income)
Interest expense	3,623	4,449	9,409	7,689
Other, net	335	687	366	751
Total other expense	3,958	5,136	9,775	8,440
Income before income taxes	65,880	21,345	130,276	40,673
Provision for income tax expense	21,742	7,453	43,627	14,383
Net income	44,138	13,892	86,649	26,290
Less: Income attributable to noncontrolling interest	17	158	46	187
Net income attributable to common stockholders	$ 44,121	$ 13,734	$ 86,603	$ 26,103
Weighted average shares outstanding
Basic (in shares)	82,495	59,471	75,248	58,889
Diluted (in shares)	89,794	62,660	81,990	61,333
Earnings per share
Basic (in dollars per share)	$ 0.53	$ 0.23	$ 1.15	$ 0.44
Diluted (in dollars per share)	$ 0.49	$ 0.22	$ 1.06	$ 0.43
Other comprehensive income, net of tax:
Net income	$ 44,138	$ 13,892	$ 86,649	$ 26,290
Change in foreign currency translation, net of tax of $0	(6,740)	1,454	3,767	7,773
Gain on derivative instruments, net of tax of $0, $264, $0 and $439	0	491	0	817
Comprehensive income	37,398	15,837	90,416	34,880
Less: comprehensive (income) loss attributable to noncontrolling interests	28	(126)	(36)	(146)
Comprehensive income attributable to common stockholders	$ 37,426	$ 15,711	$ 90,380	$ 34,734

Consolidated Condensed Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Change in foreign currency translation, tax	$ 0	$ 0	$ 0	$ 0
Gain on derivative instruments, tax	$ 0	$ 264	$ 0	$ 439

Consolidated Condensed Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Current assets
Cash and cash equivalents	$ 14,802	$ 20,548
Accounts receivable—trade, net	252,538	228,686
Inventories	402,625	324,638
Prepaid expenses and other current assets	17,933	14,372
Costs and estimated profits in excess of billings	14,535	11,706
Deferred income taxes, net	18,702	18,636
Total current assets	721,135	618,586
Property and equipment, net of accumulated depreciation	134,785	124,840
Deferred financing costs, net	9,089	10,131
Intangibles	230,759	241,314
Goodwill	602,795	600,827
Other long-term assets	7,932	11,617
Total assets	1,706,495	1,607,315
Current liabilities
Current portion of long-term debt and capital lease obligations	16,621	5,176
Accounts payable—trade	114,493	97,642
Accrued liabilities	89,742	92,251
Contingent consideration liability	16,332	41,800
Deferred revenue	17,479	12,692
Billings in excess of costs and profits recognized	1,242	4,906
Derivative instruments	0	185
Total current liabilities	255,909	254,652
Long-term debt, net of current portion	349,948	660,379
Deferred income taxes, net	36,400	35,103
Derivative instruments	1,245	1,588
Other long-term liabilities	0	461
Total liabilities	643,502	952,183
Commitments and contingencies
Equity
Common stock, $0.01 par value, 296,000,000 shares authorized, 85,728,053 and 67,944,025 shares issued and outstanding	857	679
Additional paid-in capital	741,783	424,466
Treasury stock	(25,877)	(25,877)
Warrants	27,057	27,097
Retained earnings	330,748	244,145
Accumulated other comprehensive loss	(12,250)	(16,017)
Total stockholders’ equity	1,062,318	654,493
Noncontrolling interest in subsidiary	675	639
Total equity	1,062,993	655,132
Total liabilities and equity	$ 1,706,495	$ 1,607,315

Consolidated Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2012	Dec. 31, 2011
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized (in shares)	296,000,000	296,000,000
Common stock, shares issued (in shares)	85,728,053	67,944,025
Common Stock, shares outstanding (in shares)	85,728,053	67,944,025

Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Cash flows from operating activities
Net income	$ 86,649	$ 26,290
Adjustments to reconcile net income to net cash provided by operating activities
Payment of contingent consideration included in operating expense	(7,127)	0
Change in contingent consideration	(3,900)	5,800
Share-based compensation expense	3,161	2,664
Depreciation expense	15,030	11,564
Amortization of intangible assets	10,075	4,791
Impairment of intangible assets	1,161	0
Other	2,752	(808)
Changes in operating assets and liabilities
Accounts receivable—trade	(24,121)	(27,161)
Inventories	(77,531)	(30,782)
Prepaid expenses and other current assets	5,798	2,643
Accounts payable, deferred revenue and other accrued liabilities	19,581	19,353
Billings in excess of costs and estimated profits earned, net	(6,476)	(12,448)
Net cash provided by operating activities	25,052	1,906
Cash flows from investing activities
Capital expenditures for property and equipment	(25,137)	(20,540)
Proceeds from sale of property and equipment and other	2,678	964
Acquisition of businesses, net of cash acquired	(2,839)	(65,249)
Net cash (used in) investing activities	(25,298)	(84,825)
Cash flows from financing activities
Deferred financing costs	(15)	(2,252)
Borrowings due to acquisitions	2,839	65,249
Borrowings on long-term debt	75,625	11,256
Repayment of long-term debt	(383,797)	0
Proceeds of IPO, net of offering costs	256,880	0
Proceeds from concurrent private placement	50,000	0
Payment of contingent consideration accrued at acquisition	(11,100)	0
Excess tax benefits from stock based compensation	89	0
Proceeds from stock issuance	3,991	51,804
Net cash provided by (used in) financing activities	(5,488)	126,057
Effect of exchange rate changes on cash	(12)	2,651
Net increase (decrease) in cash and cash equivalents	(5,746)	45,789
Cash and cash equivalents
Beginning of period	20,548	20,348
End of period	14,802	66,137
Noncash investing and financing activities
Insurance policy financed through notes payable	6,348	0
Payment of contingent consideration via stock	3,341	0
Acquisition via contingent consideration and stock	$ 0	$ 49,600

Organization and basis of presentation	6 Months Ended
Organization and basis of presentation	Jun. 30, 2012
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and basis of presentation	Organization and basis of presentation Forum Energy Technologies, Inc. (the "Company"), a Delaware corporation, is a global oilfield products company, serving the subsea, drilling, completion, production and infrastructure sectors of the oil and natural gas industry. The Company designs and manufactures products, and engages in aftermarket services, parts supply and related services that complement the Company’s product offering. Prior to April 17, 2012, the Company's common stock was owned by three private equity funds with the same sponsor, certain current and former employees and directors of the Company, and former owners of acquired companies. On April 17, 2012, the Company closed its initial public offering (the "IPO"), pursuant to which the Company sold 13,889,470 shares of common stock and the selling stockholders sold 7,900,000 shares of common stock, including 2,842,104 shares of common stock pursuant to the underwriters' option to purchase additional shares, each at an offering price of $20.00 per share, all issued at par value. After deducting estimated expenses and underwriting discounts, the Company and the selling stockholders received net proceeds of approximately $256.9 million and $147.2 million, respectively. The Company did not receive any proceeds from the sale of common stock by the selling stockholders. Concurrently with the closing of the IPO, the Company sold 2,666,666 shares of common stock in a private placement to a private equity fund (not affiliated with the sponsor) for net proceeds of $50 million. The Company used all of the net proceeds from the IPO and concurrent private placement to repay a portion of the outstanding borrowings under the revolving portion of the Company's senior secured credit facility (the "Credit Facility"). The Company's common shares are listed on the New York Stock Exchange under the symbol "FET". Basis of presentation The accompanying unaudited condensed consolidated financial statements of the Company include the accounts of the Company and its subsidiaries. All significant intercompany transactions have been eliminated in consolidation. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for the fair statement of the Company's financial position, results of operations and cash flows have been included. Operating results for the six months ended June 30, 2012 are not necessarily indicative of the results that may be expected for the year ended December 31, 2012 or any other interim period. These interim financial statements are unaudited and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC") regarding interim financial reporting. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America ("GAAP") for complete consolidated financial statements and should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2011 included in the Company’s prospectus dated April 11, 2012 and filed with the SEC on April 13, 2012 (the "Prospectus") pursuant to Rule 424(b)(4) under the Securities Act of 1933, as amended (the "Securities Act"). Stock split On March 28, 2012, the Company effected a 37-for-1 stock split of its outstanding shares of common stock. All applicable share and per share amounts in the condensed consolidated financial statements and related disclosures have been retroactively adjusted to reflect this stock split. Subsequent events The Company evaluated events subsequent to the balance sheet date and prior to the filing of this Quarterly Report on Form 10-Q for the six months ended June 30, 2012 and determined that any events or transactions occurring during this period that would require recognition or disclosure are appropriately addressed in these financial statements.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

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+ Details

Recent accounting pronouncements	6 Months Ended
Recent accounting pronouncements	Jun. 30, 2012
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent accounting pronouncements	Recent accounting pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board ("FASB"), which are adopted by the Company as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards, which are not yet effective, will not have a material impact on the Company’s consolidated financial statements upon adoption. In May 2011, the FASB expanded the fair value measurements and disclosures guidance related to items marked to fair value that are categorized within Level 3 of the fair value hierarchy to include qualitative explanations of the valuation methodology used and sensitivity analysis of the valuation inputs. The amendment also requires entities to disclose the level in the fair value hierarchy for items that are not measured at fair value, but for which the fair value is disclosed. This guidance was adopted by the Company for the fiscal year beginning on January 1, 2012 and did not have a material impact on the Company’s financial statements. In June 2011, the FASB issued an update to ASC 220, Presentation of Comprehensive Income. This Accounting Standards Update (“ASU”) provides that an entity that reports items of other comprehensive income has the option to present comprehensive income in either (1) a single statement that presents the components of net income and total net income, the components of other comprehensive income and total other comprehensive income, and a total for comprehensive income; or (2) a two-statement approach, which presents the components of net income and total net income in a first statement, immediately followed by a financial statement that presents the components of other comprehensive income, a total for other comprehensive income, and a total for comprehensive income. The option in current GAAP that permits the presentation of other comprehensive income in the statement of changes in equity was eliminated. For the fiscal year beginning January 1, 2012, the Company adopted the guidance and began presenting comprehensive income in a single statement. The guidance was applied retrospectively and did not have a material impact on the Company's financial statements. In December 2010, the FASB issued FASB ASU 2010-28, "Intangibles - Goodwill and Other," which affects entities evaluating goodwill for impairment under FASB ASC 350-20. ASU 2010-28, among other things, requires entities with a zero or negative carrying value to assess, considering qualitative factors, whether it is more likely than not that goodwill impairment exists. If an entity concludes that it is more likely than not that goodwill impairment exists, the entity must perform step 2 of the goodwill impairment test. This guidance was adopted by the Company for the fiscal year beginning on January 1, 2012 and did not have a material impact on the Company’s financial statements.

- Definition

The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

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+ Details

Acquisitions

6 Months Ended

Jun. 30, 2012

Business Combinations [Abstract]

Acquisitions

The Company completed eight acquisitions during fiscal year 2011. The following summarizes the six largest acquisitions.

Wood Flowline Products, LLC

In February 2011, the Company purchased Wood Flowline Products, LLC (“WFP”). WFP manufactures pressure control and flow equipment products that are principally used in the fracturing and well stimulation process. WFP also provides on-site recertification and refurbishment services of the associated flow equipment products. This acquisition provides the Company with new exposure to the growing well completion sector, specifically focused on the development of North American unconventional shale and tight sands resources. The results of WFP’s operations have been included in the Company’s consolidated financial statements beginning February 1, 2011 and are included in the Company’s Production & Infrastructure segment. The purchase consideration included two separate contingent consideration payments, which may be payable in cash and/or shares of the Company's common stock based upon WFP’s 2011 and 2012 calendar year earnings as defined in the purchase and sale agreement. The fair value of the contingent consideration was estimated at the time of the acquisition to be $13.4 million based on an internal valuation of the earnings level that the acquired company is expected to achieve. The fair value of the contingent consideration payment was re-measured as of December 31, 2011 at $22.1 million and was included in "Contingent consideration liability” in the consolidated balance sheet. Upon resolution of the results of operations for WFP for the year ended December 31, 2011, the portion of the contingent consideration to be paid in shares of the Company's common stock related to the 2011 earnings was finalized and $3.3 million of the liability was reclassified to equity. The cash portion of the contingent consideration payment based on the 2011 calendar year earnings in the amount of $6.1 million was paid during the quarter ended June 30, 2012. The fair value of the remaining contingent consideration liability relating to the 2012 calendar year was re-measured as of June 30, 2012 at $8.6 million and is included in “Contingent consideration liability” in the condensed consolidated balance sheets. The change in fair values during the three and six months ended June 30, 2012 resulted in increases to operating income of $4.9 million and $4.0 million, respectively, and is included in “Contingent consideration expense (benefit)” in the condensed consolidated statements of comprehensive income.

Phoinix Global LLC

In April 2011, the Company purchased Phoinix Global LLC (“Phoinix”), a provider of high pressure flow control equipment and products utilized in the well stimulation and flow back processes of oil and gas well completion based in Alice, Texas. This acquisition adds to the Company’s breadth of flow equipment products through a product offering that includes fluid-ends for hydraulic fracturing pressure pumps, plug valves, relief valves, chokes, manifolds, manifold trailers and flow equipment transport trucks. The results of the Phoinix operations have been included in the Company’s consolidated financial statements beginning May 1, 2011 and are included in the Company’s Production & Infrastructure segment. The purchase consideration included two separate contingent consideration payments, which may be payable in cash based upon Phoinix’s 2011 and 2012 calendar year earnings as defined in the purchase and sale agreement. The fair value of the contingent consideration was estimated at the time of the acquisition to be $16.3 million based on an internal valuation of the earnings level that Phoinix is expected to achieve. The portion of the contingent consideration based upon Phoinix's 2011 calendar earnings in the amount of $12.1 million was paid during the quarter ended June 30, 2012. The fair value of the remaining contingent consideration payment was re-measured as of June 30, 2012 and December 31, 2011 at $7.7 million and $19.7 million, respectively, and is included in “Contingent consideration liability” in the consolidated balance sheets. The change in fair value for the six months ended June 30, 2012 of $0.1 million is a decrease to operating income and is included in “Contingent consideration expense (benefit)” in the condensed consolidated statements of comprehensive income. There was no change in the fair value of the remaining contingent consideration during the three months ended June 30, 2012.

Cannon Services, LLC

In July 2011, the Company acquired Cannon Services, LLC (“Cannon”), based in Stafford, Texas. Cannon is a provider of standard and customized clamp and stamped metal protection systems used to shield the downhole control lines and gauges during their installation and provide protection during production enhancement operations. This acquisition, along with the acquisition of Davis-Lynch LLC ("Davis Lynch"), formed the product platform targeting niche downhole products that are consumed during the well construction, completion, intervention and production enhancement processes, as well as those associated with the growth in intelligent well construction. The results of Cannon’s operations have been included in the Company’s consolidated financial statements beginning July 1, 2011 and are included in the Company’s Drilling & Subsea segment.

AMC Global Group, Ltd.

In July 2011, the Company acquired AMC Global Group, Ltd. (“AMC”), based in Aberdeen, Scotland. AMC designs and manufactures specialized torque equipment for tubular connections, including high torque stroking units, fully rotational torque units and portable torque units for field deployment and related control systems, and provides aftermarket service. This acquisition enhanced the product offerings in our drilling products line. The results of AMC’s operations have been included in the Company’s consolidated financial statements beginning July 1, 2011 and are included in the Company’s Drilling & Subsea segment.

P-Quip, Ltd.

In July 2011, the Company acquired P-Quip, Ltd. (“P-Quip”), based in Kilbirnie, Scotland. P-Quip manufactures proprietary mud pump fluid end assemblies, mud pump rod systems, liner retention systems, valve cover retention systems and other drilling flow control products. This acquisition enhanced the product offerings in our drilling products line. The results of P-Quip’s operations have been included in the Company’s consolidated financial statements beginning July 5, 2011 and are included in the Company’s Drilling & Subsea segment.

Davis-Lynch LLC

In July 2011, the Company acquired Davis-Lynch based in Pearland, Texas. Davis-Lynch is a provider of proprietary, downhole cementing and casing products. This acquisition along with the acquisition of Cannon formed the new product platform targeting niche downhole products that are consumed during the well construction, completion, intervention and production enhancement processes, as well as those associated with the growth in intelligent well construction. The results of Davis-Lynch’s operations have been included in the Company’s consolidated financial statements beginning August 1, 2011 and are included in the Company’s Drilling & Subsea segment.

The following table provides pro forma information related to all acquisitions in the aggregate (in thousands, except per share data):



	Three Months Ended June 30, 2011		Six Months Ended June 30, 2011
Revenue	$	306,254	$	568,693
Net income	20,541		43,003
Basic earnings per share	0.35		0.73
Diluted earnings per share	0.33		0.70

The pro forma information for the three and six months ended June 30, 2011 assumes that all 2011 acquisitions occurred as of January 1, 2011.

The combined results of operations of the acquired businesses have been adjusted to reflect additional depreciation of fixed assets and amortization of intangible assets subject to amortization. Pro forma interest expense was calculated on notes payable and draws on the Company’s available line of credit at a rate of 4.7%, as if the businesses were acquired on January 1, 2011.

Although the Company believes the accounting policies and procedures used to prepare the pro forma schedules are reasonable, these pro forma results do not purport to be indicative of the actual results which would have been achieved had the acquisition been consummated on January 1, 2011. The amounts shown are not intended to be a projection of future results.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1497-128463

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
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-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1490-128463

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 2
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph 1
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
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-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
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-URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1500-128463

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
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-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1524-128463

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e7000-128479

Reference 11: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e6996-128479

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1383-128463

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 88-16
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph F4
-Subparagraph e
-Appendix F

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141
-Paragraph 51, 52
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 67-73
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Inventories

6 Months Ended

Jun. 30, 2012

Inventory Disclosure [Abstract]

Inventories

The Company's significant components of inventory at June 30, 2012 and December 31, 2011 were as follows (in thousands):



	June 30, 2012			December 31, 2011
Raw materials and parts	$	138,608		$	112,017
Work in process	63,272			52,402
Finished goods	220,679			177,659
Gross inventories	422,559			342,078
Inventory reserve	(19,934		)	(17,440		)
Inventories	$	402,625		$	324,638

Goodwill and intangible assets

6 Months Ended

Jun. 30, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and intangible assets

Goodwill

The changes in the carrying amount of goodwill from January 1, 2012 to June 30, 2012, were as follows (in thousands):



	Drilling & Subsea		Production & Infrastructure		Total
Goodwill Balance at January 1, 2012 net	$	523,019	$	77,808	$	600,827
Impact of non-United States local currency translation	1,968		—		1,968
Goodwill Balance at June 30, 2012 net	$	524,987	$	77,808	$	602,795

Intangible assets

At June 30, 2012 and December 31, 2011, intangible assets consisted of the following, respectively (in thousands):



	June 30, 2012
	Gross carrying amount		Accumulated amortization			Net amortizable intangibles		Amortization period (in years)
Customer relationships	$	208,642	$	(41,247	)	$	167,395	4-15
Patents and technology	19,629		(3,535		)	16,094		5-17
Non-compete agreements	5,548		(4,404		)	1,144		3-6
Trade names	35,057		(7,217		)	27,840		10-15
Contracts	260		(260		)	—		<1
Distributor relationships	22,160		(9,395		)	12,765		8-15
Trademark	5,521		—			5,521		Indefinite
Intangible Assets Total	$	296,817	$	(66,058	)	$	230,759



	December 31, 2011
	Gross carrying amount		Accumulated amortization			Net amortizable intangibles		Amortization period (in years)
Customer relationships	$	211,933	$	(36,160	)	$	175,773	4-15
Patents and technology	19,172		(2,676		)	16,496		5-17
Non-compete agreements	5,234		(4,108		)	1,126		3-6
Trade names	35,076		(6,088		)	28,988		10-15
Contracts	260		(260		)	—		<1
Distributor relationships	22,160		(8,750		)	13,410		8-15
Trademark	5,521		—			5,521		Indefinite
Intangible Assets Total	$	299,356	$	(58,042	)	$	241,314

During the quarter ended June 30, 2012, an impairment loss of $1.2 million was recorded on certain intangible assets resulting from a lack of business and orders related to a specific service line within the Production & Infrastructure segment. The impairment loss was measured using a discounted cash flows approach and was recorded for the amount by which the carrying value exceeded the estimated fair value of the intangible assets. The impaired intangible assets included customer relationships and trade names. No other indicators of intangible asset impairment occurred during the six months ended June 30, 2012.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Debt

6 Months Ended

Jun. 30, 2012

Debt Disclosure [Abstract]

Debt

Notes payable and lines of credit consisted of the following at June 30, 2012 and December 31, 2011 (in thousands):



	June 30, 2012			December 31, 2011
Senior secured revolving credit facility	$	61,000		$	363,694
Term loan	300,000			300,000
Other debt	5,569			1,861
Total debt	366,569			665,555
Less: current maturities	(16,621		)	(5,176		)
Long-term debt	$	349,948		$	660,379

The Company entered into the Credit Facility with several financial institutions, which provides for a $600.0 million revolving credit facility with up to $75.0 million of letters of credit and up to $25.0 million in swingline loans, and a $300.0 million term loan. In addition, subject to the terms of the Credit Facility, the Company has the ability to increase the commitments under the Credit Facility by up to $100.0 million. The Credit Facility matures in October 2016. Weighted average interest rates under the Credit Facility (without the effect of hedging) at June 30, 2012 and December 31, 2011 were 2.74% and 2.78%, respectively.

Availability under the Credit Facility was approximately $528.9 million and $230.0 million at June 30, 2012 and December 31, 2011, respectively. The Company was in compliance with all financial covenants at June 30, 2012 and December 31, 2011.

On April 17, 2012, the Company sold 13,889,470 shares of common stock in the IPO and 2,666,666 shares of common stock in a private placement to a private equity fund (not affiliated with the sponsor) for aggregate net proceeds of approximately $256.9 million and $50.0 million, respectively. The Company used all of the net proceeds to repay a portion of the outstanding borrowings under the revolving portion of the Credit Facility.

Other debt

Other debt consists primarily of upfront annual insurance premiums that have been financed and capital lease obligations.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References + Details

Income taxes	6 Months Ended
Income taxes	Jun. 30, 2012
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The Company’s effective tax rate for the six months ended June 30, 2012 and 2011 was 33.5% and 35.4%, respectively. The tax provision for the second quarter of 2012 is lower than the comparable period in 2011 primarily due to a higher proportion of earnings in non-U.S. jurisdictions, which have lower tax rates.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Fair value measurements

6 Months Ended

Jun. 30, 2012

Fair Value Disclosures [Abstract]

Fair value measurements

During the six months ended June 30, 2011, the Company had interest rate swap agreements to convert variable interest payments related to $34 million of floating rate debt to fixed interest payments. These swaps expired in March and November 2011. During the six months ended June 30, 2011, the Company also had an interest rate collar arrangement to reduce the variability in interest payments related to $20 million in floating rate debt. This interest rate collar instrument expired in November 2011. These instruments were designated as cash flow hedging instruments and changes in their fair values were recognized in accumulated other comprehensive income or loss.

Approximately $75 million of the Company's interest rate swaps were not designated for hedge accounting at inception. These swaps have a fixed rate of 1.83% plus the applicable margin and expire in August 2013. They are also recorded at fair value, which is measured using the market approach valuation technique. These interest rate swap agreements were executed to hedge the interest rate risk exposure. The realized gains and losses are included in Interest expense in the condensed consolidated statements of comprehensive income. At June 30, 2012, the fair value of the swap agreements was recorded as a long-term liability of $1.2 million. At December 31, 2011, the fair value of the swap agreements was recorded as a current and long-term liability of $0.2 million and $1.6 million, respectively.

In connection with the acquisitions of WFP and Phoinix, the total consideration included contingent consideration payments. The fair value of the contingent consideration for these acquisitions was estimated at the time of the respective acquisitions based on internal valuations of the expected earnings levels that the acquired companies are expected to achieve and is re-measured quarterly. Refer to Note 3, Acquisitions, for further discussion.

The Company's financial assets and liabilities are measured at fair value on a recurring basis. There were no outstanding financial assets as of June 30, 2012 and December 31, 2011. The following fair value hierarchy table presents information about the Company’s financial liabilities measured at fair value on a recurring basis as of June 30, 2012 and December 31, 2011 (in thousands):



	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Balance as of June 30, 2012
Liabilities
Interest rate derivatives	$	—	$	—	$	1,245	$	1,245
Contingent consideration	—		—		16,332		16,332
Total Liabilities	$	—	$	—	$	17,577	$	17,577

	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Balance as of December 31, 2011
Liabilities
Interest rate derivatives	$	—	$	—	$	1,773	$	1,773
Contingent consideration	—		—		41,800		41,800
Total Liabilities	$	—	$	—	$	43,573	$	43,573

Measurements of the interest rate derivative liabilities and contingent consideration are based on Level 3 inputs. The significant unobservable inputs relating to each fair value measurement is as follows:

Interest rate derivatives. The significant unobservable inputs to this fair value measurement include the projected future interest rates provided by the counterparties to the interest rate swap agreements and the fixed rates that the Company is obligated to pay under these agreements. The Company determines the value of derivative financial instruments using composite quotes obtained from market pricing services or, in certain cases, active-market quotes obtained from financial institutions.

Contingent consideration. The significant unobservable input to measure for the fair value of the contingent consideration is the earnings level that the acquired company is expected to achieve based on an internal valuation. In developing these estimates, the Company considered earnings projections, the acquired company's historical results, the general macro-economic environment and industry trends. During the six month period ended June 30, 2012, the Company recorded a credit for the contingent consideration in the amount of $3.9 million to reflect the expected earnings levels of the acquired companies. Since the payment of the liability that is related to 2012 earnings will occur in 2013, the Company calculated the net present value of the liability as of June 30, 2012 using an appropriate discount rate.

At June 30, 2012, the carrying value of the Company's debt, excluding capital leases, was $366.0 million. The majority of the debt incurs interest at a variable interest rate and therefore, the carrying amount approximates fair value. The fair value of the debt is classified as a Level 2 measurement because interest rates charged are similar to other financial instruments with similar terms and maturities.

The Company did not change its valuation techniques associated with recurring fair value measurements from prior periods and there were no transfers between levels of the fair value hierarchy during the six month period ended June 30, 2012.

The following table sets forth a reconciliation of changes for the six month period ended June 30, 2012 in the fair value of financial liabilities classified as Level 3 in the fair value hierarchy (in thousands):



	Contingent consideration			Interest rate derivatives
Balance at December 31, 2011	$	41,800		$	1,773
Total (Gains) or Losses (Realized or Unrealized):
Included in Earnings	(3,900		)	(528		)
Included in Other Comprehensive Income	—			—
Payment of contingent consideration	(18,227		)	—
Reclassified to equity	(3,341		)	—
Purchases, Issuances and Settlements	—			—
Transfers In and/or Out of Level 3	—			—
Balance as of June 30, 2012	$	16,332		$	1,245

Upon resolution of the results of operations for WFP for the year ended December 31, 2011, the portion of the contingent consideration to be paid in shares of the Company's common stock related to the 2011 earnings was finalized and $3.3 million of the liability was reclassified to equity.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 825
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-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15B
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 17-22, 27, 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15A
-Subparagraph a-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15C, 15D
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32, 33, 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 3, 10, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Business segments

6 Months Ended

Jun. 30, 2012

Segment Reporting [Abstract]

Business segments

The Company’s operations are divided into two business segments, Drilling & Subsea (“D&S”) and Production & Infrastructure (“P&I”). The amounts indicated below as "Corporate" relate to costs and assets not allocated to our reportable segments. Summary financial data by segment follows (in thousands):



	Three months ended						Six months ended
	June 30, 2012			June 30, 2011			June 30, 2012			June 30, 2011
Revenue:
Drilling & Subsea	$	222,651		$	147,239		$	435,715		$	267,965
Production & Infrastructure	151,080			110,215			301,675			192,541
Intersegment eliminations	(219		)	—			(389		)	—
Total Revenue	$	373,512		$	257,454		$	737,001		$	460,506

Operating income:
Drilling & Subsea	$	46,382		$	24,784		$	92,378		$	40,066
Production & Infrastructure	24,859			16,640			54,551			27,026
Corporate	(4,644		)	(6,919		)	(8,743		)	(9,983		)
Total segment operating income	66,597			34,505			138,186			57,109
Intangible asset impairment	1,161			—			1,161			—
Contingent consideration	(4,900		)	5,800			(3,900		)	5,800
Transaction expenses	442			2,341			797			2,616
(Gain)/loss on sale of assets	56			(117		)	77			(420		)
Income from operations	$	69,838		$	26,481		$	140,051		$	49,113



	June 30, 2012		December 31, 2011
Assets
Drilling & Subsea	$	1,217,482	$	1,193,128
Production & Infrastructure	453,762		388,570
Corporate	35,251		25,617
Total assets	$	1,706,495	$	1,607,315

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Earnings per share

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Earnings per share

The calculation of basic and diluted earnings per share for each period presented was as follows (dollars and shares in thousands, except per share amounts):



	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Net Income attributable to common stockholders	$	44,121	$	13,734	$	86,603	$	26,103

Average shares outstanding (basic)	82,495		59,471		75,248		58,889
Common stock equivalents	7,299		3,189		6,742		2,444
Diluted shares	89,794		62,660		81,990		61,333
Earnings per share
Basic earnings per share	$	0.53	$	0.23	$	1.15	$	0.44
Diluted earnings per share	$	0.49	$	0.22	$	1.06	$	0.43

The diluted earnings per share calculation excludes approximately 1.2 million and 0.1 million stock options for the three months ended June 30, 2012 and 2011, respectively, and 0.8 million and 0.1 million stock options for the six months ended June 30, 2012 and 2011, respectively, because they were anti-dilutive as the option exercise price was greater than the average market price of the common stock.

Commitments and contingencies	6 Months Ended
Commitments and contingencies	Jun. 30, 2012
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies In the ordinary course of business, the Company is, and in the future, could be involved in various pending or threatened legal actions, some of which may or may not be covered by insurance. Management has reviewed such pending judicial and legal proceedings, the reasonably anticipated costs and expenses in connection with such proceedings, and the availability and limits of insurance coverage, and has established reserves that are believed to be appropriate in light of those outcomes that are believed to be probable and can be estimated. The reserves accrued at December 31, 2011 and June 30, 2012 are immaterial. In the opinion of management, the Company's ultimate liability, if any, with respect to these actions is not expected to have a material adverse effect on the Company’s financial position, results of operations or cash flows.

Related party transactions	6 Months Ended
Related party transactions	Jun. 30, 2012
Related Party Transactions [Abstract]
Related party transactions	Related party transactions Several of the subsidiaries of the Company have entered into lease agreements for office and warehouse space with former owners of acquired companies, stockholders or affiliates. The dollar amounts related to these related party activities are not significant to the Company’s condensed consolidated financial statements. A subsidiary of the Company purchased inventory and services from an affiliate of a shareholder in amounts totaling $2.4 million during the six-month periods ended June 30, 2012 and 2011. The Company sold $1.0 million and $0.3 million of equipment and services to an affiliate of a stockholder during the six-month periods ended June 30, 2012 and 2011, respectively.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(k))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph b
-Article 3A

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph k
-Article 4

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 57
-Paragraph 1-4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Acquisition (Tables)

6 Months Ended

Jun. 30, 2012

Business Combinations [Abstract]

Business Acquisition, Pro Forma Information

The following table provides pro forma information related to all acquisitions in the aggregate (in thousands, except per share data):



	Three Months Ended June 30, 2011		Six Months Ended June 30, 2011
Revenue	$	306,254	$	568,693
Net income	20,541		43,003
Basic earnings per share	0.35		0.73
Diluted earnings per share	0.33		0.70

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References + Details

Inventories (Tables)

6 Months Ended

Jun. 30, 2012

Inventory Disclosure [Abstract]

Schedule of Inventory

The Company's significant components of inventory at June 30, 2012 and December 31, 2011 were as follows (in thousands):



	June 30, 2012			December 31, 2011
Raw materials and parts	$	138,608		$	112,017
Work in process	63,272			52,402
Finished goods	220,679			177,659
Gross inventories	422,559			342,078
Inventory reserve	(19,934		)	(17,440		)
Inventories	$	402,625		$	324,638

Goodwill and intangible assets (Tables)

6 Months Ended

Jun. 30, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in the carrying amount of goodwill from January 1, 2012 to June 30, 2012, were as follows (in thousands):



	Drilling & Subsea		Production & Infrastructure		Total
Goodwill Balance at January 1, 2012 net	$	523,019	$	77,808	$	600,827
Impact of non-United States local currency translation	1,968		—		1,968
Goodwill Balance at June 30, 2012 net	$	524,987	$	77,808	$	602,795

Summary of Intangible Assets

Intangible assets

At June 30, 2012 and December 31, 2011, intangible assets consisted of the following, respectively (in thousands):



	June 30, 2012
	Gross carrying amount		Accumulated amortization			Net amortizable intangibles		Amortization period (in years)
Customer relationships	$	208,642	$	(41,247	)	$	167,395	4-15
Patents and technology	19,629		(3,535		)	16,094		5-17
Non-compete agreements	5,548		(4,404		)	1,144		3-6
Trade names	35,057		(7,217		)	27,840		10-15
Contracts	260		(260		)	—		<1
Distributor relationships	22,160		(9,395		)	12,765		8-15
Trademark	5,521		—			5,521		Indefinite
Intangible Assets Total	$	296,817	$	(66,058	)	$	230,759



	December 31, 2011
	Gross carrying amount		Accumulated amortization			Net amortizable intangibles		Amortization period (in years)
Customer relationships	$	211,933	$	(36,160	)	$	175,773	4-15
Patents and technology	19,172		(2,676		)	16,496		5-17
Non-compete agreements	5,234		(4,108		)	1,126		3-6
Trade names	35,076		(6,088		)	28,988		10-15
Contracts	260		(260		)	—		<1
Distributor relationships	22,160		(8,750		)	13,410		8-15
Trademark	5,521		—			5,521		Indefinite
Intangible Assets Total	$	299,356	$	(58,042	)	$	241,314

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References + Details

Debt (Tables)

6 Months Ended

Jun. 30, 2012

Debt Disclosure [Abstract]

Schedule of Debt

Notes payable and lines of credit consisted of the following at June 30, 2012 and December 31, 2011 (in thousands):



	June 30, 2012			December 31, 2011
Senior secured revolving credit facility	$	61,000		$	363,694
Term loan	300,000			300,000
Other debt	5,569			1,861
Total debt	366,569			665,555
Less: current maturities	(16,621		)	(5,176		)
Long-term debt	$	349,948		$	660,379

Fair value measurements (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value Disclosures [Abstract]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis

The following fair value hierarchy table presents information about the Company’s financial liabilities measured at fair value on a recurring basis as of June 30, 2012 and December 31, 2011 (in thousands):



	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Balance as of June 30, 2012
Liabilities
Interest rate derivatives	$	—	$	—	$	1,245	$	1,245
Contingent consideration	—		—		16,332		16,332
Total Liabilities	$	—	$	—	$	17,577	$	17,577

	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Balance as of December 31, 2011
Liabilities
Interest rate derivatives	$	—	$	—	$	1,773	$	1,773
Contingent consideration	—		—		41,800		41,800
Total Liabilities	$	—	$	—	$	43,573	$	43,573

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation



	Contingent consideration			Interest rate derivatives
Balance at December 31, 2011	$	41,800		$	1,773
Total (Gains) or Losses (Realized or Unrealized):
Included in Earnings	(3,900		)	(528		)
Included in Other Comprehensive Income	—			—
Payment of contingent consideration	(18,227		)	—
Reclassified to equity	(3,341		)	—
Purchases, Issuances and Settlements	—			—
Transfers In and/or Out of Level 3	—			—
Balance as of June 30, 2012	$	16,332		$	1,245

- Definition

Tabular disclosure related to assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a recurring and/or nonrecurring basis in periods after initial recognition. Disclosures include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3) as well as transfers between levels 1 and 2.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a,b,bb)
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2C
-URI http://asc.fasb.org/extlink&oid=7578670&loc=SL7498348-110258

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 33
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 6
-Footnote 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References + Details

Business segments (Tables)

6 Months Ended

Jun. 30, 2012

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Summary financial data by segment follows (in thousands):



	Three months ended						Six months ended
	June 30, 2012			June 30, 2011			June 30, 2012			June 30, 2011
Revenue:
Drilling & Subsea	$	222,651		$	147,239		$	435,715		$	267,965
Production & Infrastructure	151,080			110,215			301,675			192,541
Intersegment eliminations	(219		)	—			(389		)	—
Total Revenue	$	373,512		$	257,454		$	737,001		$	460,506

Operating income:
Drilling & Subsea	$	46,382		$	24,784		$	92,378		$	40,066
Production & Infrastructure	24,859			16,640			54,551			27,026
Corporate	(4,644		)	(6,919		)	(8,743		)	(9,983		)
Total segment operating income	66,597			34,505			138,186			57,109
Intangible asset impairment	1,161			—			1,161			—
Contingent consideration	(4,900		)	5,800			(3,900		)	5,800
Transaction expenses	442			2,341			797			2,616
(Gain)/loss on sale of assets	56			(117		)	77			(420		)
Income from operations	$	69,838		$	26,481		$	140,051		$	49,113



	June 30, 2012		December 31, 2011
Assets
Drilling & Subsea	$	1,217,482	$	1,193,128
Production & Infrastructure	453,762		388,570
Corporate	35,251		25,617
Total assets	$	1,706,495	$	1,607,315

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References + Details

Earnings per share (Tables)

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The calculation of basic and diluted earnings per share for each period presented was as follows (dollars and shares in thousands, except per share amounts):



	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Net Income attributable to common stockholders	$	44,121	$	13,734	$	86,603	$	26,103

Average shares outstanding (basic)	82,495		59,471		75,248		58,889
Common stock equivalents	7,299		3,189		6,742		2,444
Diluted shares	89,794		62,660		81,990		61,333
Earnings per share
Basic earnings per share	$	0.53	$	0.23	$	1.15	$	0.44
Diluted earnings per share	$	0.49	$	0.22	$	1.06	$	0.43

Organization and basis of presentation (Details) $ / shares in Units, $ in Thousands			6 Months Ended
	Apr. 17, 2012 USD ($) private_equity_funds $ / shares shares	Mar. 28, 2012 shares	Jun. 30, 2012 USD ($)	Jun. 30, 2011 USD ($)
Equity [Line Items]
Number of private equity funds (in private equity funds) \| private_equity_funds	3
Common stock share price (in dollars per share) \| $ / shares	$ 20.00
Proceeds from issuance of initial public offering \| $	$ 256,900		$ 256,880	$ 0
Proceeds from issuance of private placement \| $	$ 50,000		$ 50,000	$ 0
Stock split conversion ratio (in shares)		37
IPO [Member]
Equity [Line Items]
Stock issued during the period (in shares)	13,889,470
Private Placement [Member]
Equity [Line Items]
Stock issued during the period (in shares)	2,666,666
Stockholder [Member]
Equity [Line Items]
Proceeds from issuance of initial public offering \| $	$ 147,200
Stockholder [Member] \| IPO [Member]
Equity [Line Items]
Stock issued during the period (in shares)	7,900,000
Underwriters With An Option To Purchase Shares [Member] \| IPO [Member]
Equity [Line Items]
Stock issued during the period (in shares)	2,842,104

Acquisitions (Details) $ in Thousands	1 Months Ended		3 Months Ended		6 Months Ended		12 Months Ended
Acquisitions (Details) $ in Thousands	Apr. 30, 2011 USD ($) payments	Feb. 28, 2011 USD ($) payments	Jun. 30, 2012 USD ($)	Jun. 30, 2011 USD ($)	Jun. 30, 2012 USD ($)	Jun. 30, 2011 USD ($)	Dec. 31, 2011 USD ($) business	Dec. 31, 2010
Business Acquisition [Line Items]
Number of businesses acquired (in businesses) \| business							8
Largest acquistions (in businesses) \| business							6
Increase (decrase) to operating income related to contingent consideration			$ 4,900	$ (5,800)	$ 3,900	$ (5,800)
Line of credit interest rate								4.70%
Wood Flowline Products, LLC [Member]
Business Acquisition [Line Items]
Number of contingent consideration payments (in payments) \| payments		2
Estimated fair value of contingent consideration		$ 13,400
Remeasured contingent payment			8,600		8,600		$ 22,100
Reclassification from liability to equity							3,300
Contingent consideration cash payment			6,100
Increase (decrase) to operating income related to contingent consideration			4,900		4,000
Phoinix Global LLC [Member]
Business Acquisition [Line Items]
Number of contingent consideration payments (in payments) \| payments	2
Estimated fair value of contingent consideration	$ 16,300
Remeasured contingent payment			7,700		$ 7,700		$ 19,700
Contingent consideration cash payment			12,100
Increase (decrase) to operating income related to contingent consideration			$ (100)

Acquisitions - Pro Forma (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2011	Jun. 30, 2011
Business Combinations [Abstract]
Revenue	$ 306,254	$ 568,693
Net income	$ 20,541	$ 43,003
Basic earnings per share (in dollars per share)	$ 0.35	$ 0.73
Diluted earnings per share (in dollars per share)	$ 0.33	$ 0.70

- Definition

The pro forma basic net income per share for a period as if the business combination or combinations had been completed at the beginning of a period.

+ References + Details

- Definition

The pro forma diluted net income per share for a period as if the business combination or combinations had been completed at the beginning of a period.

+ References + Details

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Inventory Disclosure [Abstract]
Raw materials and parts	$ 138,608	$ 112,017
Work in process	63,272	52,402
Finished goods	220,679	177,659
Gross inventories	422,559	342,078
Inventory reserve	(19,934)	(17,440)
Inventories	$ 402,625	$ 324,638

- Definition

The amount of the valuation account as of the balance sheet date which reduces the carrying amount of inventory to net realizable value; takes into consideration such factors as market value, excessive quantities based on expected sales, technological obsolescence, and shrinkage. May also provide for estimated product returns or price concessions pertaining to product cost.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 5.BB)
-URI http://asc.fasb.org/extlink&oid=6386940&loc=d3e100047-122729

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.6(a))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SX 210.12-09)
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e24092-122690

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-SubTopic 10
-Section 35
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6386567&loc=d3e3927-108312

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Paragraph 14
-Chapter 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Paragraph 8, 9, 14
-Chapter 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Section A
-Paragraph 9
-Chapter 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 09
-Article 12

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 6
-Subparagraph a
-Article 5

+ Details

Goodwill and intangible assets (Schedule of Goodwill) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2012 USD ($)
Goodwill [Roll Forward]
Goodwill Balance at January 1, 2012 net	$ 600,827
Impact of non-United States local currency translation	1,968
Goodwill Balance at June 30, 2012 net	602,795
Drilling and Subsea [Member]
Goodwill [Roll Forward]
Goodwill Balance at January 1, 2012 net	523,019
Impact of non-United States local currency translation	1,968
Goodwill Balance at June 30, 2012 net	524,987
Production and Infrastructure [Member]
Goodwill [Roll Forward]
Goodwill Balance at January 1, 2012 net	77,808
Impact of non-United States local currency translation	0
Goodwill Balance at June 30, 2012 net	$ 77,808

- Definition

Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6388280&loc=d3e13770-109266

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 43
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 72
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-Clause 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 68
-Subparagraph l
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Goodwill and intangible assets (Finite-Lived and Indefinite-Lived Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ (66,058)		$ (66,058)		$ (58,042)
Intangible Assets Total, Gross carrying amount	296,817		296,817		299,356
Intangible Assets Total, Net amortizable intangibles	230,759		230,759		241,314
Impairment of intangible assets	1,161	$ 0	1,161	$ 0
Trademark [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	5,521		5,521		5,521
Customer relationships [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	208,642		208,642		211,933
Accumulated amortization	(41,247)		(41,247)		(36,160)
Net amortizable intangibles	167,395		167,395		175,773
Patents and technology [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	19,629		19,629		19,172
Accumulated amortization	(3,535)		(3,535)		(2,676)
Net amortizable intangibles	16,094		16,094		16,496
Non-compete agreements [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	5,548		5,548		5,234
Accumulated amortization	(4,404)		(4,404)		(4,108)
Net amortizable intangibles	1,144		1,144		1,126
Trade names [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	35,057		35,057		35,076
Accumulated amortization	(7,217)		(7,217)		(6,088)
Net amortizable intangibles	27,840		27,840		28,988
Contracts [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	260		260		260
Accumulated amortization	(260)		(260)		(260)
Net amortizable intangibles	0		0		0
Distributor relationships [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	22,160		22,160		22,160
Accumulated amortization	(9,395)		(9,395)		(8,750)
Net amortizable intangibles	$ 12,765		$ 12,765		$ 13,410
Minimum [Member] \| Customer relationships [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period (in years)			4 years		4 years
Minimum [Member] \| Patents and technology [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period (in years)			5 years		5 years
Minimum [Member] \| Non-compete agreements [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period (in years)			3 years		3 years
Minimum [Member] \| Trade names [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period (in years)			10 years		10 years
Minimum [Member] \| Distributor relationships [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period (in years)			8 years		8 years
Maximum [Member] \| Customer relationships [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period (in years)			15 years		15 years
Maximum [Member] \| Patents and technology [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period (in years)			17 years		17 years
Maximum [Member] \| Non-compete agreements [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period (in years)			6 years		6 years
Maximum [Member] \| Trade names [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period (in years)			15 years		15 years
Maximum [Member] \| Contracts [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period (in years)			1 year		1 year
Maximum [Member] \| Distributor relationships [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period (in years)			15 years		15 years

Debt (Details) - USD ($) $ in Thousands		6 Months Ended
Debt (Details) - USD ($) $ in Thousands	Apr. 17, 2012	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Debt Instrument [Line Items]
Proceeds from issuance of initial public offering	$ 256,900	$ 256,880	$ 0
Proceeds from issuance of private placement	$ 50,000	50,000	$ 0
Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, amount of additional borrowings		$ 100,000
Weighted average interest rates		2.74%		2.78%
Line of credit facility, remaining borrowing capacity		$ 528,900		$ 230,000
Term Loan [Member]
Debt Instrument [Line Items]
Term loan, face amount		300,000
Revolving Credit Facility [Member] \| Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		600,000
Letter of Credit [Member] \| Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		75,000
Swingline Loan [Member] \| Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 25,000
IPO [Member]
Debt Instrument [Line Items]
Stock issued during the period (in shares)	13,889,470
Private Placement [Member]
Debt Instrument [Line Items]
Stock issued during the period (in shares)	2,666,666

Debt (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Debt Instrument [Line Items]
Total debt	$ 366,569	$ 665,555
Less: current maturities	(16,621)	(5,176)
Long-term debt	349,948	660,379
Senior Secured Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total debt	61,000	363,694
Term Loan [Member]
Debt Instrument [Line Items]
Total debt	300,000	300,000
Other Debt [Member]
Debt Instrument [Line Items]
Total debt	$ 5,569	$ 1,861

Income taxes (Details)	6 Months Ended
Income taxes (Details)	Jun. 30, 2012	Jun. 30, 2011
Income Tax Disclosure [Abstract]
Effective income tax rate	33.50%	35.40%

Fair value measurements (Details) - USD ($) $ in Thousands	6 Months Ended
Fair value measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative instruments, current liability	$ 0	$ 185
Derivative instruments, long-term liability	1,245	1,588
Contingent Consideration [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration	3,900
Reclassified to equity	3,341
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, fair value disclosure	366,000
Interest Rate Swap [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Interest rate derivative liabilities, at fair value	$ 75,000
Derivative instruments, current liability		200
Derivative instruments, long-term liability		1,600
Cash Flow Hedging [Member] \| Interest Rate Swap [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amount of hedged item			$ 34,000
Cash Flow Hedging [Member] \| Interest Rate Collar [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Amount of hedged item			$ 20,000
Not Designated as Hedging Instrument [Member] \| Interest Rate Swap [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fixed interest rate	1.83%
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Interest rate derivatives	$ 1,245	1,773
Significant unobservable inputs (Level 3) [Member] \| Fair Value, Measurements, Recurring [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Interest rate derivatives	$ 1,245	$ 1,773

Fair value measurements (Financial Liabilities Measured at Fair Value on a Recurring Basis) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate derivatives	$ 1,245	$ 1,773
Contingent consideration	16,332	41,800
Total Liabilities	17,577	43,573
Quoted prices in active markets for identical assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate derivatives	0	0
Contingent consideration	0	0
Total Liabilities	0	0
Significant other observable inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate derivatives	0	0
Contingent consideration	0	0
Total Liabilities	0	0
Significant unobservable inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate derivatives	1,245	1,773
Contingent consideration	16,332	41,800
Total Liabilities	$ 17,577	$ 43,573

Fair value measurements (Fair Value of Financial Liabilities Classified as Level 3) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2012 USD ($)
Contingent consideration [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 41,800
Total (Gains) or Losses (Realized or Unrealized):
Included in Earnings	(3,900)
Included in Other Comprehensive Income	0
Payment of contingent consideration	(18,227)
Reclassified to equity	(3,341)
Purchases, Issuances and Settlements	0
Transfers In and/or Out of Level 3	0
Ending balance	16,332
Interest rate derivatives [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1,773
Total (Gains) or Losses (Realized or Unrealized):
Included in Earnings	(528)
Included in Other Comprehensive Income	0
Payment of contingent consideration	0
Reclassified to equity	0
Purchases, Issuances and Settlements	0
Transfers In and/or Out of Level 3	0
Ending balance	$ 1,245

Business segments (Income statement by segment) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012 USD ($)	Jun. 30, 2011 USD ($)	Jun. 30, 2012 USD ($) segments	Jun. 30, 2011 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments (in segments) \| segments			2
Revenue	$ 373,512	$ 257,454	$ 737,001	$ 460,506
Operating income	69,838	26,481	140,051	49,113
Intangible asset impairment	1,161	0	1,161	0
Contingent consideration expense (benefit)	(4,900)	5,800	(3,900)	5,800
Transaction expenses	442	2,341	797	2,616
(Gain)/loss on sale of assets	56	(117)	77	(420)
Total segments [Member]
Segment Reporting Information [Line Items]
Operating income	66,597	34,505	138,186	57,109
Drilling and Subsea [Member]
Segment Reporting Information [Line Items]
Revenue	222,651	147,239	435,715	267,965
Operating income	46,382	24,784	92,378	40,066
Production and Infrastructure [Member]
Segment Reporting Information [Line Items]
Revenue	151,080	110,215	301,675	192,541
Operating income	24,859	16,640	54,551	27,026
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	(219)	0	(389)	0
Corporate [Member]
Segment Reporting Information [Line Items]
Operating income	$ (4,644)	$ (6,919)	$ (8,743)	$ (9,983)

Business segments (Assets by segment) (Details) - USD ($) $ in Thousands	Jun. 30, 2012	Dec. 31, 2011
Segment Reporting Information [Line Items]
Assets	$ 1,706,495	$ 1,607,315
Drilling and Subsea [Member]
Segment Reporting Information [Line Items]
Assets	1,217,482	1,193,128
Production and Infrastructure [Member]
Segment Reporting Information [Line Items]
Assets	453,762	388,570
Corporate [Member]
Segment Reporting Information [Line Items]
Assets	$ 35,251	$ 25,617

Earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income attributable to common stockholders	$ 44,121	$ 13,734	$ 86,603	$ 26,103
Average shares outstanding (basic) (in shares)	82,495	59,471	75,248	58,889
Common stock equivalents (in shares)	7,299	3,189	6,742	2,444
Diluted shares (in shares)	89,794	62,660	81,990	61,333
Earnings per share
Basic earnings per share (in dollars per share)	$ 0.53	$ 0.23	$ 1.15	$ 0.44
Diluted earnings per share (in dollars per share)	$ 0.49	$ 0.22	$ 1.06	$ 0.43
Stock Options [Member]
Earnings per share
Diluted earnings per share calculation excludes (in shares)	1,200	100	800	100

Related party transactions (Details) - Affiliated Entity [Member] - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Related Party Transaction [Line Items]
Purchases of inventory and services	$ 2.4	$ 2.4
Proceeds from sale of equipment and services	$ 1.0	$ 0.3