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Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2012	Feb. 28, 2013	Jun. 30, 2012
Document and Entity Information [Abstract]
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-K
Document Period End Date	Dec. 31, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		91,920,553
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Public Float			$ 724

Condensed statements of comprehensive income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Net sales	$ 1,414,933	$ 1,128,131	$ 747,335
Cost of sales	951,876	765,670	533,078
Gross profit	463,057	362,461	214,257
Operating expenses
Selling, general and administrative expenses	225,268	186,774	141,441
Contingent consideration expense (benefit)	(4,568)	12,100	0
Impairment of intangible assets	1,161	0	0
Transaction expenses	1,751	3,608	0
(Gain) loss on sale of assets	(1,435)	(634)	(461)
Total operating expenses	222,177	201,848	140,980
Operating income	240,880	160,613	73,277
Other expense (income)
Expenses related to the Combination	0	0	6,968
Deferred loan costs written off	0	0	6,082
Interest expense	16,372	19,532	18,189
Other, net	1,713	378	(2,308)
Total other expense	18,085	19,910	28,931
Income before income taxes	222,795	140,703	44,346
Provision for income tax expense	71,265	47,110	20,297
Net income	151,530	93,593	24,049
Less: Income attributable to noncontrolling interest	74	251	111
Net income attributable to common stockholders	$ 151,456	$ 93,342	$ 23,938
Weighted average shares outstanding
Basic (in shares)	80,111	63,270	53,798
Diluted (in shares)	86,937	67,488	54,316
Earnings per share
Basic (in dollars per share)	$ 1.89	$ 1.48	$ 0.44
Diluted (in dollars per share)	$ 1.74	$ 1.38	$ 0.44
Other comprehensive income, net of tax:
Net income	$ 151,530	$ 93,593	$ 24,049
Change in foreign currency translation, net of tax of $0	15,887	(5,094)	(6,313)
Gain on derivative instruments, net of tax of $0, $768, and $732	0	1,426	1,360
Comprehensive income	167,417	89,925	19,096
Less: comprehensive (income) loss attributable to noncontrolling interests	(44)	(85)	(113)
Comprehensive income attributable to common stockholders	$ 167,373	$ 89,840	$ 18,983

Condensed statements of comprehensive income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Change in foreign currency translation, tax	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Gain on derivative instruments, tax	$ 439	$ 0	$ 264	$ 0	$ 439	$ 0	$ 264	$ 0	$ 0	$ 768	$ 732

Consolidated balance sheets - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Current assets
Cash and cash equivalents	$ 41,063	$ 20,548
Accounts receivable—trade, net	228,947	228,686
Inventories	455,129	324,638
Prepaid expenses and other current assets	12,744	14,372
Costs and estimated profits in excess of billings	6,551	11,706
Deferred income taxes, net	30,443	18,636
Total current assets	774,877	618,586
Property and equipment, net of accumulated depreciation	152,983	124,840
Deferred financing costs, net	8,045	10,131
Intangibles	257,419	241,314
Goodwill	695,799	600,827
Other long-term assets	3,857	11,617
Total assets	1,892,980	1,607,315
Current liabilities
Current portion of long-term debt and capital lease obligations	20,504	5,176
Accounts payable—trade	98,990	97,642
Accrued liabilities	93,701	92,251
Contingent consideration liability	15,664	41,800
Deferred revenue	33,720	12,692
Billings in excess of costs and profits recognized	17,582	4,906
Derivative instruments	714	185
Total current liabilities	280,875	254,652
Long-term debt, net of current portion	400,201	660,379
Deferred income taxes, net	49,749	35,103
Derivative instruments	0	1,588
Other long-term liabilities	0	461
Total liabilities	730,825	952,183
Commitments and contingencies
Equity
Common stock, $0.01 par value, 296,000,000 shares authorized, 87,543,173 and 67,944,025 shares issued	875	679
Additional paid-in capital	764,635	424,466
Treasury stock at cost, 3,377,599 and 3,374,770 shares	(25,933)	(25,877)
Warrants	26,394	27,097
Retained earnings	395,601	244,145
Accumulated other comprehensive loss	(100)	(16,017)
Total stockholders’ equity	1,161,472	654,493
Noncontrolling interest in subsidiary	683	639
Total equity	1,162,155	655,132
Total liabilities and equity	$ 1,892,980	$ 1,607,315

Consolidated balance sheets (Parenthetical) - $ / shares	Dec. 31, 2012	Dec. 31, 2011
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized	296,000,000	296,000,000
Common Stock, shares issued	87,543,173	67,944,025

Consolidated statements of cash flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Cash flows from operating activities
Net income	$ 151,530	$ 93,593	$ 24,049
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation expense	31,458	26,245	21,889
Amortization of intangible assets	20,346	14,530	11,327
Share-based compensation expense	8,179	5,156	5,136
Payment of contingent consideration included in operating expense	(7,127)	0	0
Change in contingent consideration	(4,568)	12,100	0
Impairment of intangible assets	1,161	0	0
Deferred income taxes	(6,349)	(1,482)	(1,178)
Deferred loan costs written off	0	0	6,082
Other	2,108	4,300	2,998
Changes in operating assets and liabilities
Accounts receivable—trade	12,872	(62,350)	(13,132)
Inventories	(100,268)	(90,634)	(5,745)
Prepaid expenses and other current assets	15,636	(10,477)	2,278
Cost and estimated profit in excess of billings	5,403	(5,210)	2,550
Accounts payable, deferred revenue and other accrued liabilities	(4,781)	56,256	14,167
Billings in excess of costs and estimated profits earned	12,341	(2,752)	(4,440)
Net cash provided by operating activities	137,941	39,275	65,981
Cash flows from investing activities
Acquisition of businesses, net of cash acquired	(139,889)	(509,857)	0
Capital expenditures for property and equipment	(49,685)	(41,163)	(19,624)
Proceeds from sale of property and equipment and other	5,226	1,062	670
Capitalized costs related to patents	(175)	(156)	(262)
Net cash (used in) investing activities	(184,523)	(550,114)	(19,216)
Cash flows from financing activities
Borrowings due to acquisitions	139,889	509,857	0
Borrowings on long-term debt	63,397	10,490	323,916
Repayment of long-term debt	(454,019)	(61,973)	(407,360)
Proceeds of IPO, net of offering costs	256,381	0	0
Proceeds from concurrent private placement	50,000	0	0
Payment of contingent consideration accrued at acquisition	(11,100)	0	0
Purchased stock due to the Combination	0	0	(3,327)
Repurchases of stock	(56)	(54)	(25,162)
Excess tax benefits from stock based compensation	7,337	1,027	38
Proceeds from stock issuance	14,432	57,046	64,928
Payment of capital lease obligation	(464)	(310)	(627)
Deferred financing costs	(15)	(5,935)	(6,671)
Net cash provided by (used in) financing activities	65,782	510,148	(54,265)
Effect of exchange rate changes on cash	1,315	891	954
Net increase (decrease) in cash and cash equivalents	20,515	200	(6,546)
Cash and cash equivalents
Beginning of period	20,548	20,348	26,894
End of period	41,063	20,548	20,348
Supplemental cash flow disclosures
Interest paid	15,224	17,700	14,219
Income taxes paid	59,439	29,127	25,009
Noncash investing and financing activities
Insurance policy financed through notes payable	6,348	1,717	3,809
Payment of contingent consideration via stock	3,341	0	0
Acquisition via contingent consideration and stock	$ 0	$ 68,754	$ 0

Consolidated statements of changes in stockholders' equity - USD ($) $ in Thousands	Total	Preferred Shares [Member]	Triton Series A and B [Member]	Common Stock [Member]	Additional paid in capital [Member]	Treasury stock [Member]	Warrants [Member]	Retained earnings [Member]	Accumulated other comprehensive income (loss) [Member]	Total common stockholders' equity [Member]	Noncontrolling interest [Member]
Balance at Dec. 31, 2009	$ 402,368	$ 62	$ 2,064	$ 487	$ 280,670	$ (661)	$ 0	$ 126,865	$ (7,560)	$ 401,927	$ 441
Balance (in shares) at Dec. 31, 2009		69,055	39,967	48,739,730
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock	2,750			$ 3	2,747					2,750
Issuance of common stock (in shares)				357,901
Issuance of restricted stock	2			$ 2						2
Issuance of restricted stock (in shares)				189,773
Repurchase of stock	(1,005)			$ (1)	(838)	(166)				(1,005)
Repurchase of stock (in shares)				(114,959)
Exercise of stock options	50				50					50
Exercise of stock options (in shares)				18,500
Stock based compensation expense	5,136		$ 403		4,733					5,136
Excess tax benefits	38				38					38
Issuance of stock related to acquisitions	62,126			$ 81	62,045					62,126
Issuance of stock related to acquisitions (in shares)				8,085,832
Purchase of stock related to the conversion of shares	(2,488)	$ 62	$ (2,467)	$ 3	38					(2,488)
Purchase of stock related to the conversion of shares (in shares)		(69,055)	(39,967)	263,921
Purchase of stock related to the tender offer at the time of the combination	(24,996)					(24,996)				(24,996)
Issuance of warrants	0				(7,825)		7,825			0
Currency translation adjustment	(6,313)								(6,315)	(6,315)	2
Change related to derivative liabilities, net of tax	1,360								1,360	1,360
Net income	24,049							23,938		23,938	111
Balance at Dec. 31, 2010	463,077	$ 0	$ 0	$ 575	341,658	(25,823)	7,825	150,803	(12,515)	462,523	554
Balance (in shares) at Dec. 31, 2010		0	0	57,540,698.000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock	54,111			$ 65	54,046					54,111
Issuance of common stock (in shares)				6,513,073
Issuance of restricted stock	0									0
Issuance of restricted stock (in shares)				66,230
Exercise of stock options	1,300			$ 3	1,297					1,300
Exercise of stock options (in shares)				263,477
Stock based compensation expense	5,156				5,156					5,156
Excess tax benefits	1,027				1,027					1,027
Issuance of stock related to acquisitions	38,955			$ 34	38,921					38,955
Issuance of stock related to acquisitions (in shares)				3,418,652
Restricted stock purchase				150,775
Restricted stock purchase (in shares)	1,610			$ 2	1,608					1,610
Restricted stock withheld	(54)					(54)				(54)
Restricted stock withheld (in shares)				(12,025)
Warrant issuance					(19,278)		19,278
Exercise of warrants	25				31		(6)			25
Exercise of warrants (in shares)				3,145
Currency translation adjustment	(5,094)								(4,928)	(4,928)	(166)
Change related to derivative liabilities, net of tax	1,426								1,426	1,426
Net income	93,593							93,342		93,342	251
Balance at Dec. 31, 2011	655,132	$ 0	$ 0	$ 679	424,466	(25,877)	27,097	244,145	(16,017)	654,493	639
Balance (in shares) at Dec. 31, 2011		0	0	67,944,025.000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock	499				499					499
Issuance of common stock (in shares)				30,821
Issuance of stock upon IPO, net of offering costs	256,381			$ 139	256,242					256,381
Issuance of stock upon IPO, net of offering costs (in shares)				13,889,470
Issuance of stock upon concurrent private placement	50,000			$ 27	49,973					50,000
Issuance of stock upon concurrent private placement (in shares)				2,666,666
Issuance of restricted stock	0			$ 9	(9)
Issuance of restricted stock (in shares)				869,826
Repurchase of stock	(56)					(56)				(56)
Exercise of stock options	$ 10,742			$ 16	10,726					10,742
Exercise of stock options (in shares)	1,600,000			1,573,268
Stock based compensation expense	$ 8,179				8,179					8,179
Excess tax benefits	7,337				7,337					7,337
Exercise of warrants	3,183			$ 3	3,883		(703)			3,183
Exercise of warrants (in shares)				363,044
Equity related to contingent consideration	3,341			$ 2	3,339					3,341
Equity related to contingent consideration (in shares)				206,053
Currency translation adjustment	15,887								15,917	15,917	(30)
Net income	151,530							151,456		151,456	74
Balance at Dec. 31, 2012	$ 1,162,155	$ 0	$ 0	$ 875	$ 764,635	$ (25,933)	$ 26,394	$ 395,601	$ (100)	$ 1,161,472	$ 683
Balance (in shares) at Dec. 31, 2012		0	0	87,543,173.000

Nature of operations	12 Months Ended
Nature of operations	Dec. 31, 2012
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of operations	Nature of operations 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. On August 2, 2010, the Company completed the combination (the "Combination") of Forum Oilfield Technologies, Inc. ("FOT"), Global Flow Technologies, Inc. ("Global Flow"), Triton Group Holdings, LLC ("Triton"), Allied Production Services, Inc. ("Allied"), and Subsea Services International, Inc. ("Subsea") pursuant to which each company's shareholders, other than FOT, exchanged all of their common stock for the common stock of FOT. In conjunction with the Combination, FOT changed its name to Forum Energy Technologies, Inc. After the completion of the Combination, 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 previously 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 $256.4 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 Tinicum L.P. ("Tinicum"), a private equity fund, for net proceeds of $50.0 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 ("Credit Facility"). The Company's common shares are listed on the New York Stock Exchange under the symbol "FET."

- Definition

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

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+ Details

Summary of significant accounting policies

12 Months Ended

Dec. 31, 2012

Accounting Policies [Abstract]

Summary of significant accounting policies

Basis of presentation

The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP").

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 consolidated financial statements and related disclosures have been retroactively adjusted to reflect this stock split.

Principles of consolidation

The consolidated financial statements include the accounts of the Company and its wholly and majority owned subsidiaries after elimination of intercompany balances and transactions. Noncontrolling interest principally represents ownership by others of the equity in our consolidated majority owned South African subsidiary.

Reclassifications

Certain reclassifications have been made in prior period financial statements to conform with the current period presentation. Reclassifications have no impact on the Company’s financial position, results of operations or cash flows.

Use of estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.

In the preparation of these consolidated financial statements, estimates and assumptions have been made by management including costs to complete contracts, an assessment of percentage of completion of projects, the selection of useful lives of tangible and intangible assets, fair value of reporting units used for goodwill impairment testing, expected future cash flows from long lived assets to support impairment tests, provisions necessary for trade receivables and income tax contingencies. Actual results could differ from these estimates.

The financial reporting of contracts depends on estimates, which are assessed continually during the term of those contracts. Recognized revenues and income are subject to revisions as the contract progresses to completion and changes in estimates are reflected in the period in which the facts that give rise to the revisions become known. Additional information that enhances and refines the estimating process that is obtained after the balance sheet date, but before issuance of the financial statements is reflected in the financial statements.

Cash and cash equivalents

Cash and cash equivalents consist of cash on deposit and high quality, short term money market instruments with an original maturity of three months or less. Cash equivalents are stated at cost plus accrued interest, which approximates fair value.

Accounts receivable-trade

Trade accounts receivables are carried at their estimated collectible amounts. Trade credit is generally extended on a short-term basis; thus receivables do not bear interest, although a finance charge may be applied to amounts past due. The Company maintains an allowance for doubtful accounts for estimated losses that may result from the inability of its customers to make required payments. Such allowances are based upon several factors including, but not limited to, credit approval practices, industry and customer historical experience as well as the current and projected financial condition of the specific customer. Accounts receivable outstanding longer than contractual terms are considered past due. The Company writes off accounts receivable to the allowance for doubtful accounts when they become uncollectible. Any payments subsequently received on receivables previously written off are credited to bad debt expense.

The change in amounts of the allowance for doubtful accounts during the three year period ended December 31, 2012 is as follows (in thousands):



Period ended	Balance at beginning of period		Charged to expense		Deductions or other			Balance at end of period
December 31, 2010	$	3,851	$	955	$	(681	)	$	4,125
December 31, 2011	4,125		2,867		(1,197		)	5,795
December 31, 2012	5,795		2,115		(2,019		)	5,891

Inventories

Inventory consisting of finished goods and materials and supplies held for resale is carried at the lower of cost or market. For certain operations, cost, which includes the cost of raw materials and labor for finished goods, is determined on a first-in first-out basis. For other operations, this cost is determined on an average cost basis. Market means current replacement cost except that (1) market should not exceed net realizable value and (2) market should not be less than net realizable value reduced by an allowance for a normal profit margin. The Company continuously evaluates inventories, based on an analysis of inventory levels, historical sales experience and future sales forecasts, to determine obsolete, slow-moving and excess inventory. Adjustments to reduce such inventory to its estimated recoverable value have been recorded by management.

Property and equipment

Property and equipment are stated at cost less accumulated depreciation. Equipment held under capital leases are stated at the present value of minimum lease payments. Expenditures for property and equipment and for items which substantially increase the useful lives of existing assets are capitalized at cost and depreciated over their estimated useful life utilizing the straight-line method. Routine expenditures for repairs and maintenance are expensed as incurred. Depreciation is computed using the straight-line method based on the estimated useful lives of assets, generally three to twenty years. Plant and equipment held under capital leases are amortized straight-line over the shorter of the lease term or estimated useful life of the asset. Gains or losses resulting from the disposition of assets are recognized in income, and the related asset cost and accumulated depreciation are removed from the accounts. Assets acquired in connection with business combinations are recorded at fair value.

Rental equipment consists of equipment leased to customers under operating leases. Rental equipment is recorded at cost and depreciated using the straight-line method over the estimated useful life of three to ten years.

Effective January 1, 2010, we implemented a change in accounting estimate to adjust the useful life of marine electronic survey equipment. This change resulted in an approximately $3.2 million reduction in the depreciation expense in the year ended December 31, 2010, an increase to net income of $2.1 million (or $0.04 per diluted share). The Company extended the useful lives of these long-lived assets based on its review of the historical service lives, technological improvements in the assets and proven longer useful mechanical and technical lives.

The Company reviews long-lived assets for potential impairment whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset may not be recoverable. In performing the review for impairment, future cash flows expected to result from the use of the asset and its eventual disposal are estimated. If the undiscounted future cash flows are less than the carrying amount of the assets, the asset is impaired. The amount of the impairment is measured as the difference between the carrying value and the estimated fair value of the asset. The fair value is determined either through the use of an external valuation, or by means of an analysis of discounted future cash flows based on expected utilization. The impairment loss recognized represents the excess of the assets carrying value as compared to its estimated fair value. For the years ended December 31, 2012, 2011 and 2010, no impairments were recorded.

To the extent that asset retirement obligations are incurred, the Company records the fair value of an asset retirement obligation as a liability in the period in which the associated legal obligation is incurred. The fair values of these obligations are recorded as liabilities on a discounted basis. The costs associated with these liabilities are capitalized as part of the related assets and depreciated. Over time, the liabilities are accreted for any change in their present value. Asset retirement obligations as of December 31, 2012, 2011 and 2010 are not significant.

Goodwill and intangible assets

For goodwill and intangible assets with indefinite lives, an assessment for impairment is performed annually or whenever an event indicating impairment may have occurred. The Company completes its annual impairment test for goodwill and other indefinite-lived intangibles using an assessment date of December 31. Goodwill is reviewed for impairment by comparing the carrying value of each reporting unit’s net assets (including allocated goodwill) to the fair value of the reporting unit. The Company has six reporting units. The fair value of the reporting units is determined using a discounted cash flow approach. Determining the fair value of a reporting unit requires judgment and the use of significant estimates and assumptions. Such estimates and assumptions include revenue growth rates, operating margins, weighted average costs of capital and future market conditions, among others. The Company believes that the estimates and assumptions used in impairment assessments are reasonable. If the reporting unit’s carrying value is greater than its fair value, a second step is performed whereby the implied fair value of goodwill is estimated by allocating the fair value of the reporting unit in a hypothetical purchase price allocation analysis. The Company recognizes a goodwill impairment charge for the amount by which the carrying value of goodwill exceeds its fair value. The impairment test is a fair value test which includes assumptions such as growth and discount rates. Any impairment losses are reflected in operating income. In 2012, 2011 and 2010, no impairment losses were recorded as the estimated fair values of each reporting unit substantially exceeded its carrying value.

Intangible assets with definite lives comprised of customer and distributor relationships, non-compete agreements, and patents are amortized on a straight-line basis over the life of the intangible asset, generally three to seventeen years. These assets are tested for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. No impairments to intangible assets were recorded in 2011 and 2010. During the year ended December 31, 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. Refer to Note 6, Goodwill and intangible assets, for further discussion.

In the third quarter 2010, the Company implemented a change in accounting estimate to adjust the useful lives of certain of customer relationship and distributor relationship intangible assets. This change resulted in a $2.2 million reduction in amortization expense in the year ended December 31, 2010, an increase to net income of $1.4 million (or $0.03 per diluted share). The Company extended the useful lives of these intangible assets based on positive changes in customer attrition rates and due to several factors pursuant to the Combination, which would further strengthen these relationships.

Recognition of provisions for contingencies

In the ordinary course of business, the Company is subject to various claims, suits and complaints. The Company, in consultation with internal and external advisors, will provide for a contingent loss in the consolidated financial statements if it is probable that a liability has been incurred at the date of the consolidated financial statements and the amount can be reasonably estimated. If it is determined that the reasonable estimate of the loss is a range and that there is no best estimate within the range, provision will be made for the lower amount of the range. Legal costs are expensed as incurred.

An assessment is made of the areas where potential claims may arise under the contract warranty clauses. Where a specific risk is identified and the potential for a claim is assessed as probable and can be reasonably estimated, an appropriate warranty provision is recorded. Warranty provisions are eliminated at the end of the warranty period except where warranty claims are still outstanding. The liability for product warranty is included in other accrued liabilities on the consolidated balance sheet.

Changes in the Company’s warranty liability were as follows (in thousands):



Period ended	Balance at beginning of period		Charged to expense		Deductions or other			Balance at end of period
December 31, 2010	$	5,481	$	2,281	$	(1,054	)	$	6,708
December 31, 2011	6,708		1,232		(3,026		)	4,914
December 31, 2012	4,914		2,083		(3,220		)	3,777

Revenue recognition and deferred revenue

Revenue is recognized when all of the following criteria have been met: (a) persuasive evidence of an arrangement exists, (b) delivery of the equipment has occurred or services have been rendered, (c) the price of the product or service is fixed and determinable and (d) collectability is reasonably assured. Revenue from product sales, including shipping costs, is recognized as title passes to the customer, which generally occurs when items are shipped from the Company’s facilities. Revenue from services is recognized when the service is completed to the customer’s specifications.

Customers are sometimes billed in advance of services performed or products manufactured, and the Company recognizes the associated liability as deferred revenue.

Revenue generated from long-term contracts typically longer than six months in duration are recognized on the percentage-of-completion method of accounting. The Company recognizes revenue and cost of goods sold each period based upon the advancement of the work-in-progress unless the stage of completion is insufficient to enable a reasonably certain forecast of profit to be established. In such cases, no profit is recognized during the period. The percentage-of-completion is calculated based on the ratio of costs incurred to-date to total estimated costs, taking into account the level of completion. The percentage-of-completion method requires management to calculate reasonably dependable estimates of progress toward completion of contract revenues and contract costs. Whenever revisions of estimated contract costs and contract values indicate that the contract costs will exceed estimated revenues, thus creating a loss, a provision for the total estimated loss is recorded in that period.

Primarily related to the remotely operated vehicles ("ROVs"), which may take longer to manufacture, accounting estimates during the course of the project may change. The effect of such a change, which can be upward as well as downward, is accounted for in the period of change and the cumulative income recognized to date is adjusted to reflect the latest estimates. These revisions to estimates are accounted for on a prospective basis.

On a contract by contract basis, cost and profit in excess of billings represents the cumulative revenue recognized less the cumulative billings to the customer. Similarly, billings in excess of costs and profits represents the cumulative billings to the customer less the cumulative revenue recognized.

Revenue from the rental of equipment or providing of services is recognized over the period when the asset is rented or services are rendered and collectability is reasonably assured. Rates for asset rental and service provision are priced on a per day, per man hour, or similar basis.

Concentration of credit risk

Financial instruments which potentially subject the Company to credit risk include trade accounts receivable. Trade accounts receivable consist of uncollateralized receivables from domestic and internationally based customers. For the years ended December 31, 2012, 2011 and 2010, no one customer accounted for 10% or more of the total revenue or 10% or more of the total accounts receivable balance at the end of the respective period.

Share-based compensation

The Company measures all share-based compensation awards at fair value on the date they are granted to employees, directors and consultants, and recognizes compensation cost in its financial statements over the requisite service period. Compensation expense is recorded for restricted stock and restricted stock units over the applicable vesting period based on the fair market value of the stock or units on the date of grant. Options are issued with an exercise price equal to the fair market value of the stock on the date of grant. Compensation expense for stock options is recognized over the period of the underlying option's vesting schedule. Consideration paid on the exercise of stock options is credited to share capital and additional paid-in capital.

Fair value of the share-based compensation is measured by use of the Black-Scholes model for most of the outstanding options and a Binomial model for certain legacy share-based compensation instruments issued by Triton. The following sections address the assumptions used related to the Black-Scholes pricing model.

Expected life

The expected term of stock options represents the period the stock options are expected to remain outstanding and is based on the simplified method, which is the weighted average vesting term plus the original contractual term divided by two. The Company uses the simplified method due to a lack of sufficient historical share option exercise experience upon which to estimate an expected term.

Expected volatility

Expected volatility measures the amount that a stock price has fluctuated or is expected to fluctuate during a period. As the Company does not have an extensive public trading history for its stock, volatility is based on an analysis of historical volatility of comparable companies.

Dividend yield

The Company has never declared or paid any cash dividends and does not plan to pay cash dividends in the foreseeable future. Therefore, a zero expected dividend yield was used in the valuation model.

Risk-free interest rate

The risk-free interest rate is based on United States Treasury zero-coupon issues with remaining terms similar to the expected term on the options.

Forfeitures

The Company estimates forfeitures at the time of grant and revises those estimates in subsequent periods if actual forfeitures differ from those estimates. The Company uses historical data to estimate pre-vesting option forfeitures and record stock-based compensation expense only for those awards that are expected to vest. If the Company’s actual forfeiture rate is materially different from its estimate, the stock-based compensation expense could be different from what the Company has recorded in the current period. Historically, estimated forfeitures have been in line with actual forfeitures.

Fair value of common stock

Prior to the IPO, when a value for each share was not readily available, the value of the Company’s common stock at the time of each option grant used to establish the strike price, and the value applied in each acquisition transaction, was estimated by management, and approved by the Company’s Board of Directors, in accordance with an internal valuation model. The valuation model is based upon an average of cash flow and book value multiples of comparable companies. The comparable companies selected reflect the market’s view on key sector, geographic, and product type exposure that are similar to those that impact the Company’s business. The value is further subject to judgmental factors such as prevailing market conditions, changes in oilfield service indices and the overall outlook for the Company and its products in general. Since the IPO, the market value of our common stock is used.

Income taxes

The Company follows the liability method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are determined based upon temporary differences between the carrying amounts and tax bases of the Company’s assets and liabilities at the balance sheet date, and are measured using enacted tax rates and laws that will be in effect when the differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in the tax rates is recognized in income in the period in which the change occurs. The Company records a valuation reserve in each reporting period when management believes that it is more likely than not that any deferred tax asset created will not be realized.

Accounting guidance for income taxes requires that the Company recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. If a tax position meets the "more likely than not" recognition criteria, accounting guidance requires the tax position be measured at the largest amount of benefit greater than 50% likely of being realized upon ultimate settlement.

Earnings per share

Basic earnings per share for all periods presented equals net income divided by the weighted average number of the shares of the Company’s common stock outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted average number of shares of the Company’s common stock outstanding during the period as adjusted for the dilutive effect of the Company’s stock options, restricted share plans and warrants.

The exercise price of each option is based on the Company’s stock price at the date of grant. The diluted earnings per share calculation excludes approximately 1.0 million stock options, 0.4 million stock options and warrants and 16.3 million stock options and warrants for the years ended December 31, 2012, 2011 and 2010, respectively, because they were anti-dilutive as the option exercise price was greater than the average market price of the common stock.

The following is a reconciliation of the number of shares used for the basic and diluted earnings per share computations (shares in thousands):



	December 31,
	2012	2011	2010
Basic weighted average shares outstanding	80,111	63,270	53,798
Dilutive effect of stock option and restricted share plan	6,826	4,218	518
Diluted weighted average shares outstanding	86,937	67,488	54,316

Non-U.S. local currency translation

The Company operates globally and its primary functional currency is the U.S. dollar ($). The majority of the Company’s non-U.S. operations have designated the local currency as their functional currency. Financial statements of these non-U.S. operations are translated into U.S. dollars using the current rate method whereby assets and liabilities are translated at the balance sheet rate and income and expenses are translated into U.S. dollars at the average exchange rates in effect during the period. The resultant translation adjustments are reported as a component of accumulated other comprehensive income within stockholders’ equity.

Noncontrolling interest

Noncontrolling interests are classified as equity in the consolidated balance sheets. Net earnings include the net earnings for both controlling and noncontrolling interests, with disclosure of both amounts on the consolidated statements of earnings.

Fair value

The carrying amounts for financial instruments classified as current assets and current liabilities approximate fair value, due to the short maturity of such instruments. The book values of other financial instruments, such as the Company’s long-term debt, approximates fair value because interest rates charged are similar to other financial instruments with similar terms and maturities and the rates vary in accordance with a market index.

For the financial assets and liabilities recorded at fair value, fair value is determined as the exit price, or the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The established fair value hierarchy divides fair value measurement into three broad levels:


•	Level 1 - inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date;


•	Level 2 - inputs other than quoted prices included within Level 1 that are observable for the assets or liability, either directly or indirectly; and


•	Level 3 - inputs are unobservable for the asset or liability, which reflect the best judgment of management.

The financial assets and liabilities that are recorded at fair value for disclosure purposes are categorized in one of the above three levels based on the lowest level input that is significant to the fair value measurement in its entirety. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment.

Hedging and use of derivative instruments

The Company utilizes interest rate swap and collar agreements to hedge the exposure to variable cash flows on a portion of its floating rate debt (i.e., cash flow hedges). The instruments are not used for trading or speculative purposes. The Company records these interest rate derivative instruments at fair value on the consolidated balance sheet as either derivative assets or derivative liabilities as applicable.

Certain derivative instruments are designated as cash flow hedges and are highly effective in offsetting movements in the underlying risks. Changes in the fair value of the instruments designated as cash flow hedges are deferred in accumulated other comprehensive income, net of tax, to the extent the contracts are effective as hedges, until settlement of the underlying hedged transaction. If the necessary correlation ceases to exist or if physical delivery of the hedged item becomes improbable, the Company would discontinue hedge accounting and apply mark-to-market accounting with any changes in the fair values of the derivative instruments then recognized in earnings. Amounts paid or received from interest rate derivative instruments are charged or credited to interest expense and matched with the cash flows and interest expense of the debt being hedged, resulting in an adjustment to the effective interest rate. The Company did not have any derivative instruments designated as cash flow hedges at December 31, 2012.

Certain derivative instruments do not qualify for hedge accounting. These derivatives are also recorded at fair value, with the changes in fair value being recorded into earnings. At December 31, 2012, the fair value of these swap agreements was recorded in the consolidated balance sheet as a short-term liability of $0.7 million.

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.

In June 2011, the FASB issued an update to Accounting Standards Codification 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.

In July 2012, the FASB amended the Intangibles - Goodwill and Other Topic of the ASC that allows us to make a qualitative assessment of whether it is more likely than not that the fair value of an indefinite-lived intangible asset is less than its carrying amount. If, after assessing the relevant information, we determine it is more likely than not that the fair value is more than the carrying amount, no additional work is necessary. If we determine it is more likely than not that the fair value is less than the carrying amount, then we are required to proceed to the quantitative approach. The amended guidance is effective for us in the annual test in the fourth quarter of 2013 and adoption is not expected to impact consolidated financial condition or results of operations.

Acquisitions

12 Months Ended

Dec. 31, 2012

Business Combinations [Abstract]

Acquisitions

2012 Acquisitions

The Company completed four acquisitions in the fourth quarter 2012 for aggregate consideration of $139.3 million (the "2012 acquisitions"). These acquisitions, all of which are included in the Drilling & Subsea segment, included:


•	Syntech Technology, Inc. ("Syntech"), a Lorton, Virgina based manufacturer of syntactic foam buoyancy materials used for ROVs and other deepwater flotation applications;


•	Wireline Solutions, LLC ("Wireline"), a Sanger, Texas based manufacturer of downhole completion tools, including composite plugs used for plug, perforate and fracture applications and wireline flow control products;


•	Dynacon, Inc. ("Dynacon"), a Bryan, Texas based provider of launch and recovery systems used for the deployment of ROVs and high quality specialized cable and umbilical handling equipment; and


•	Merrimac Manufacturing, Inc. ("Merrimac"), a Plantersville, Texas based manufacturer of consumable parts for drilling, well servicing and pressure pumping applications, including mud pump parts, power swivel parts and valves and seats for hydraulic fracturing pumps.

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the date of the acquisition (in thousands):



	2012 Acquisitions
Current assets, net of cash acquired	$	44,221
Property and equipment	11,099
Intangible assets (primarily customer relationships)	35,800
Goodwill	85,092
Current liabilities	(36,880		)
Net assets acquired	$	139,332

Revenues and net income related to the 2012 acquisitions were not significant for the year ended December 31, 2012. Pro forma results of operations for the 2012 acquisitions have not been presented because the effects were not material to the consolidated financial statements on either an individual or aggregate basis.

2011 Acquisitions

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


•	Wood Flowline Products, LLC ("WFP"), a provider of pressure control and flow equipment products that are principally used in the fracturing and well stimulation processes as well as recertification of treating iron and rebuild services of swivel joints, pup joints, plug valves, check valves and relief valves from its facilities in Oklahoma and Arkansas;


•	Phoinix Global LLC ("Phoinix"), an Alice, Texas based provider of high pressure flow control equipment and products, including fluid ends, plug valves, relief valves, chokes, manifolds, manifold trailers and iron transport trucks, utilized in hydraulic fracturing and flow back of oil and gas wells;


•	Specialist ROV Tooling Services, Ltd., an Insch, Scotland based provider of intervention tooling and custom engineered product solutions for the subsea intervention market;


•	Cannon Services, Ltd., a Stafford, Texas based supplier of downhole completion control lines and cable protection systems, including downhole clamps and protectors;


•	SVP Products Inc., a Texas based provider of high pressure flow control equipment and products utilized in hydraulic fracturing and flow back of oil and gas wells as well as repair and recertification services;


•	P-Quip Ltd., a Kilbernie, Scotland based manufacturer of proprietary mud pump fluid end assemblies;


•	AMC Global Group, Ltd., an Aberdeen, Scotland based manufacturer of 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


•	Davis-Lynch, LLC, a Pearland, Texas based manufacturer of downhole cementing and casing products.

The following table summarizes the fair values of the assets acquired and liabilities assumed at the acquisition date of each of Wood Flowline Products, LLC, Phoinix Global LLC, Cannon Services, Ltd., P-Quip Ltd., AMC Global Group, Ltd. and Davis-Lynch, LLC (in thousands):



	2011 Acquisitions
Current assets, net of cash acquired	$	115,442
Property and equipment	18,872
Intangible assets (primarily customer relationships)	173,072
Goodwill	299,559
Current liabilities	(29,730		)
Deferred tax liabilities	(7,091		)
Net assets acquired	$	570,124

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



	Year ended December 31, 2011		Year ended December 31, 2010
Revenue	$	1,245,745	$	955,449
Net income attributable to common stockholders	113,915		46,749
Basic earnings per share	$	1.71	$	0.82
Diluted earnings per share	$	1.61	$	0.81

The pro forma information for the years ended December 31, 2011 and 2010 assumes the acquisitions listed above occurred as of January 1, 2010.

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 at the beginning of the period.

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, 2010. The amounts shown are not intended to be a projection of future results.

Contingent consideration

The purchase consideration of WFP 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 was 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 in March 2012. 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 December 31, 2012 at $7.8 million and is included in "Contingent consideration liability" in the consolidated balance sheets. The changes in fair value during the years ended December 31, 2012 and 2011 resulted in an increase to operating income of $4.8 million and a decrease to operating income of $8.7 million, respectively, and are included in "Contingent consideration expense (benefit)" in the consolidated statements of comprehensive income.

The purchase consideration of Phoinix 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 was 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 December 31, 2012 and December 31, 2011 at $7.9 million and $19.7 million, respectively, and is included in "Contingent consideration liability" in the consolidated balance sheets. The changes in fair value for the years ended December 31, 2012 and 2011 of $0.2 million and $3.4 million, respectively, are decreases to operating income and are included in "Contingent consideration expense (benefit)" in the consolidated statements of comprehensive income.

- 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
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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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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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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Reference 13: 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=6910749&loc=d3e4926-128472

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
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-Paragraph 2
-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
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-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)
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-Paragraph F4
-Subparagraph e
-Appendix F

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-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

12 Months Ended

Dec. 31, 2012

Inventory Disclosure [Abstract]

Inventories

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



	December 31, 2012			December 31, 2011
Raw materials and parts	$	145,970		$	112,017
Work in process	86,558			52,402
Finished goods	243,726			177,659
Gross inventories	476,254			342,078
Inventory reserve	(21,125		)	(17,440		)
Inventories	$	455,129		$	324,638

The change in the amounts of the inventory reserve during the three year period ended December 31, 2012 is as follows (in thousands):



Period ended	Balance at beginning of period		Charged to expense		Deductions or other			Balance at end of period
December 31, 2010	$	8,935	$	1,244	$	(73	)	$	10,106
December 31, 2011	10,106		10,910		(3,576		)	17,440
December 31, 2012	17,440		6,107		(2,422		)	21,125

Property and equipment

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment [Abstract]

Property and equipment

Property and equipment consists of the following (in thousands):



		December 31,
	Estimated useful lives	2012			2011
Land		$	3,926		$	2,064
Buildings and leasehold improvements	7-20	47,390			39,092
Computer equipment	3-5	14,227			12,484
Machinery & equipment	5-10	94,198			78,146
Furniture & fixtures	3-10	12,678			9,819
Vehicles	3-5	11,328			9,103
Construction in progress		13,427			6,550
		197,174			157,258
Less: accumulated depreciation		(79,343		)	(67,379		)
Property & equipment, net		117,831			89,879

Rental equipment		105,162			95,707
Less: accumulated depreciation		(70,010		)	(60,746		)
Rental equipment, net		35,152			34,961

Total property & equipment, net		$	152,983		$	124,840

Depreciation expense was $31.5 million, $26.2 million and $21.9 million for the years ended December 31, 2012, 2011 and 2010.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References + Details

Goodwill and intangible assets

12 Months Ended

Dec. 31, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and intangible assets

Goodwill

The changes in the carrying amount of goodwill from January 1, 2011 to December 31, 2012, were as follows (in thousands):



	Drilling & Subsea					Production & Infrastructure					Total
	2012		2011			2012		2011			2012		2011
Goodwill Balance at January 1, net	$	523,019	$	275,528		$	77,808	$	18,853		$	600,827	$	294,381
Acquisition	85,092		249,140			—		59,102			85,092		308,242
Purchase accounting adjustment	—		—			1,379		—			1,379		—
Impact of non-U.S. local currency translation	8,409		(1,649		)	92		(147		)	8,501		(1,796		)
Goodwill Balance at December 31, net	$	616,520	$	523,019		$	79,279	$	77,808		$	695,799	$	600,827

The Company performs its annual impairment tests of goodwill as of December 31. There was no impairment of goodwill during the years ended December 31, 2012, 2011 and 2010. The fair values were determined using the net present value of the expected future cash flows for each reporting unit. Accumulated impairment losses on goodwill were $40.0 million as of December 31, 2012 and 2011.

Intangible assets

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



	December 31, 2012
	Gross carrying amount		Accumulated amortization			Net amortizable intangibles		Amortization period (in years)
Customer relationships	$	241,358	$	(49,766	)	$	191,592	4-15
Patents and technology	19,780		(4,360		)	15,420		5-17
Non-compete agreements	5,880		(4,420		)	1,460		3-6
Trade names	40,255		(8,680		)	31,575		10-15
Distributor relationships	22,160		(10,018		)	12,142		8-15
Trademark	5,230		—			5,230		Indefinite
Intangible Assets Total	$	334,663	$	(77,244	)	$	257,419



	December 31, 2011
	Gross carrying amount		Accumulated amortization			Net amortizable intangibles		Amortization period (in years)
Customer relationships	$	212,193	$	(36,420	)	$	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	35,367		(6,088		)	29,279		10-15
Distributor relationships	22,160		(8,750		)	13,410		8-15
Trademark	5,230		—			5,230		Indefinite
Intangible Assets Total	$	299,356	$	(58,042	)	$	241,314

During the year ended December 31, 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 and is recorded under "Impairment of intangible assets" in the consolidated statement of comprehensive income. No other indicators of intangible asset impairment occurred during the year ended December 31, 2012.

Amortization expense was $20.3 million, $14.5 million and $11.3 million for the years ended December 31, 2012, 2011 and 2010, respectively. The total weighted average amortization period is 14 years and the estimated future amortization expense for the next five years is as follows (in thousands):



Year ending December 31,
2013	$	22,509
2014	21,698
2015	21,752
2016	21,173
2017	20,827

- 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

12 Months Ended

Dec. 31, 2012

Debt Disclosure [Abstract]

Debt

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



	December 31, 2012			December 31, 2011
Senior secured revolving credit facility	$	122,480		$	363,694
Term loan	296,250			300,000
Other debt	1,975			1,861
Total debt	420,705			665,555
Less: current maturities	(20,504		)	(5,176		)
Long-term debt	$	400,201		$	660,379

The Company has a Credit Facility with several financial institutions as lenders, which provides for a $600.0 million revolving credit facility with up to $75.0 million available for letters of credit and up to $25.0 million in swingline loans, and a $300.0 million term loan. The Credit Facility matures in October 2016. Weighted average interest rates under the Credit Facility (without the effect of hedging) at December 31, 2012 and 2011 were 2.21% and 2.78%, respectively.

The Credit Facility contains covenants which require the Company to maintain certain financial ratios. These covenants are as follows:

•

Total funded debt to adjusted EBITDA (as defined as the "Leverage Ratio" in the credit agreement) of not more than 3.75 to 1.0 for fiscal quarters ended through December 31, 2012, 3.50 to 1.0 for fiscal quarters ending from March 31, 2013 through December 31, 2013, 3.25 to 1.0 for fiscal quarters ending from March 31, 2014 through December 31, 2014 and 3.00 to 1.0 for periods ending thereafter (provided, that following any issuance of senior, unsecured high yield notes by our company, the maximum Leverage Ratio test will be 4.00 to 1.00 for each fiscal quarter after such issuance);


•	EBITDA to interest expense (defined as the "Interest Coverage Ratio" in the credit agreement) of not less than 3.0 to 1.0; and


•	Following any issuance of senior, unsecured high yield notes by our company, total secured funded debt to EBITDA (defined as the "Senior Secured Leverage Ratio" in the credit agreement) of not more than 3.00 to 1.00.

Availability under the Credit Facility was approximately $474.1 million at December 31, 2012. The Company was in compliance with all financial covenants at December 31, 2012.

On April 17, 2012, the Company closed its IPO pursuant to which the Company sold 13,889,470 shares of common stock and 2,666,666 shares of common stock in a private placement to Tinicum for aggregate net proceeds of approximately $256.4 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.

Debt issue costs

The Company has incurred loan costs that have been capitalized and are amortized to interest expense over the term of the Credit Facility. As a result, approximately $2.1 million, $2.1 million and $1.8 million were amortized to interest expense for the years ended December 31, 2012, 2011 and 2010, respectively. Due to the payment of the debt and replacement of the facilities held by certain entities that were part of the Combination, the related debt issue costs of $6.1 million that had been previously capitalized were fully written off in August 2010.

Future payments

Future principal payments under long-term debt for each of the years ending December 31 are as follows (in thousands):



2013	$	20,504
2014	30,105
2015	33,775
2016	336,298
2017	23
Thereafter	—
	$	420,705

- 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

12 Months Ended

Dec. 31, 2012

Income Tax Disclosure [Abstract]

Income taxes

The components of the Company's income before income taxes for the years ended December 31, 2012, 2011 and 2010 are as follows (in thousands):



	2012		2011		2010
U.S.	$	140,179	$	88,968	$	24,162
Non-U.S.	82,616		51,735		20,184
Income before income taxes	$	222,795	$	140,703	$	44,346

The Company’s provision (benefit) for income taxes from continuing operations for the years ended December 31, 2012, 2011 and 2010 are as follows (in thousands):



	2012			2011			2010
Current
U.S. Federal and state	$	55,591		$	34,351		$	13,869
Non-U.S.	22,023			14,241			7,606
Total current	77,614			48,592			21,475
Deferred
U.S. Federal and state	(4,788		)	386			132
Non-U.S.	(1,561		)	(1,868		)	(1,310		)
Total deferred	(6,349		)	(1,482		)	(1,178		)
Provision for income tax expense	$	71,265		$	47,110		$	20,297

The reconciliation between the actual provision for income taxes from continuing operations and that computed by applying the U.S. statutory rate to income before income taxes and noncontrolling interests are outlined below (in thousands):



	2012					2011					2010
Income tax expense at the statutory rate	$	77,978		35.0	%	$	49,246		35.0	%	$	15,521		35.0	%
State taxes, net of federal tax benefit	3,847			1.7	%	3,193			2.3	%	1,172			2.6	%
Non-U.S. operations	(7,363		)	(3.3	)%	(4,495		)	(3.2	)%	(1,273		)	(2.9	)%
Domestic incentives	(2,202		)	(1.0	)%	(1,179		)	(0.8	)%	(1,107		)	(2.5	)%
Prior year federal, non-U.S. and state tax	(1,736		)	(0.8	)%	(169		)	(0.1	)%	1,431			3.2	%
Nondeductible expenses	666			0.3	%	758			0.5	%	3,936			8.9	%
Other	75			0.1	%	(244		)	(0.2	)%	617			1.4	%
	$	71,265		32.0	%	$	47,110		33.5	%	$	20,297		45.7	%

The primary components of deferred taxes include (in thousands):



	2012			2011
Deferred tax assets
Reserves and accruals	$	12,701		$	8,347
Inventory	13,940			9,905
Stock awards	4,609			3,118
Interest rate swaps	250			621
Non-U.S. tax credit carryforwards	—			3,081
NOL and other tax credit carryforwards	1,213			1,332
Other	5			—
Total deferred tax assets	32,718			26,404
Deferred tax liabilities
Property and equipment	(12,226		)	(10,077		)
Goodwill and intangible assets	(38,190		)	(30,519		)
Unremitted non-U.S. earnings	(740		)	(740		)
Prepaid expenses and other	(868		)	(1,535		)
Total deferred tax liabilities	(52,024		)	(42,871		)
Net deferred tax liabilities	$	(19,306	)	$	(16,467	)

At December 31, 2012, the Company had $1.9 million of U.S. net operating loss carryforwards that expire in 2027. The Company also had $1.8 million of non-U.S. net operating loss carryforwards with indefinite expiration dates. All of the U.S. net operating losses relate to the Company's acquisitions. Use of these losses are subject to limitations under Section 382 of the Internal Revenue Code. The Company anticipates being able to fully utilize the losses prior to their expiration.

At December 31, 2012, the Company had no foreign tax credit carryforwards.

Goodwill from certain acquisitions is tax deductible due to the acquisition structure as an asset purchase or due to tax elections made by the Company and the respective sellers at the time of acquisition.

The Company is required to evaluate whether it is more likely than not that deferred tax assets will be realized. The Company believes that it is more likely than not that deferred tax assets at December 31, 2012 and 2011 will be utilized to offset future taxable income and the reversal of taxable temporary differences. Consequently, no valuation allowance has been recorded in the financial statements.

The Company is required to evaluate the need to provide U.S. income taxes on the undistributed earnings of non-U.S. operations. Taxes are provided as necessary with respect to non-U.S. earnings that are not permanently reinvested. For all other non-U.S. earnings, no U.S. taxes are provided because such earnings are intended to be reinvested indefinitely to finance non-U.S. activities.

As a result of the Combination in August 2010, the Company filed pre-acquisition tax returns for all of the parties to the Combination except FOT. The Company filed a 2010 consolidated tax return which included the full year earnings of FOT and the post-combination earnings of the other companies. The Company also files income tax returns in various states and non-U.S. jurisdictions. With few exceptions, the Company is no longer subject to income tax examination by tax authorities in these jurisdictions prior to 2007.

The Company accounts for uncertain tax positions in accordance with guidance in FASB ASC 740, which prescribes the minimum recognition threshold a tax position taken or expected to be taken in a tax return is required to meet before being recognized in the financial statements. A reconciliation of the beginning and ending amount of uncertain tax positions is as follows (in thousands):



Balance at January 1, 2012	$	2,095
Additional based on tax positions related to prior years	2,532
Reduction based on tax positions related to prior years	—
Lapse of statute of limitations	(926		)
Balance at December 31, 2012	3,701
Deferred tax benefits on uncertain tax position related to U.S. and non-U.S. income tax	(401		)
Net balance that, if recognized, would impact the Company's effect tax rate	$	3,300

The Company does not anticipate any significant changes to the unrecognized tax benefits within the next twelve months.

The Company recognizes interest and penalties related to uncertain tax positions within the provision for income taxes in the consolidated statement of income. As of December 31, 2012 and 2011, we had accrued approximately $0.2 million in interest and penalties. During the years ended December 31, 2012 and 2011, we recognized no material change in the interest and penalties related to uncertain tax positions.

As of December 31, 2012, the uncertain tax positions and accrued interest and penalties were not expected to be settled within one year and, therefore, are classified with other long-term liabilities.

- 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
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-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

12 Months Ended

Dec. 31, 2012

Fair Value Disclosures [Abstract]

Fair value measurements

During the year ended December 31, 2011, the Company had interest rate swap agreements to convert variable interest payments related to $34.0 million of floating rate debt to fixed interest payments. These swaps expired in March and November 2011. During the year ended December 31, 2011, the Company also had an interest rate collar arrangement to reduce the variability in interest payments related to $20.0 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.

The notional amount of $75.0 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% 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 provide an economic hedge against the interest rate risk exposure. The realized gains and losses are included in Interest expense in the consolidated statements of comprehensive income. At December 31, 2012, the fair value of the swap agreements was recorded as a short-term liability of $0.7 million. At December 31, 2011, the fair value of all swap agreements, some of which have now expired, 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 were expected to achieve and was re-measured quarterly. Refer to Note 3, Acquisitions, for further discussion.

There were no outstanding financial assets as of December 31, 2012 and 2011 that required measuring the amounts at fair value on a recurring 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 December 31, 2012 and 2011 (in thousands):



Balance as of December 31, 2012	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total
Liabilities
Interest rate derivatives	$	—	$	—	$	714	$	714
Contingent consideration	—		—		15,664		15,664
Total Liabilities	$	—	$	—	$	16,378	$	16,378
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 year ended December 31, 2012, the Company recorded a credit for the contingent consideration in the amount of $4.6 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 December 31, 2012 using an appropriate discount rate.

At December 31, 2012, the carrying value of the Company's debt, excluding capital leases, was $420.4 million. Substantially all 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 year ended December 31, 2012.

The following table sets forth a reconciliation of changes for the year ended December 31, 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	(4,568		)	(1,059		)
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 December 31, 2012	$	15,664		$	714

The following table sets forth a reconciliation of changes for the year ended December 31, 2011 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, 2010	$	—	$	4,356
Total (Gains) or Losses (Realized or Unrealized):
Included in Earnings	12,100		(389		)
Included in Other Comprehensive Income	—		(2,194		)
Acquisition related additions	29,700		—
Payment of contingent consideration	—		—
Reclassified to equity	—		—
Purchases, Issuances and Settlements	—		—
Transfers In and/or Out of Level 3	—		—
Balance as of December 31, 2011	$	41,800	$	1,773

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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13537-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13504-108611

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-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

Commitments and contingencies

12 Months Ended

Dec. 31, 2012

Commitments and Contingencies Disclosure [Abstract]

Commitments and contingencies

Litigation

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, 2012 and 2011 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.

Portland Harbor Superfund litigation

In May 2009, one of the Company's subsidiaries (which is presently a dormant company with nominal assets except for rights under insurance policies) was named along with many defendants in a suit filed by the Port of Portland, Oregon seeking reimbursement of costs related to a five-year study of contaminated sediments at the port. In March 2010, the subsidiary also received a notice letter from the Environmental Protection Agency indicating that it had been identified as a potentially responsible party with respect to environmental contamination in the "study area" for the Portland Harbor Superfund Site. Under a 1997 indemnity agreement, the subsidiary is indemnified by a third party with respect to losses relating to environmental contamination. As required under the indemnity agreement, the subsidiary provided notice of these claims, and the indemnitor has assumed responsibility and is providing a defense of the claims. Although the Company believes that it is unlikely that the subsidiary contributed to the contamination at the Portland Harbor Superfund Site, the potential liability of the subsidiary and the ability of the indemnitor to fulfill its indemnity obligations cannot be quantified at this time.

Operating leases

The Company has operating leases for warehouse, office space, manufacturing facilities and equipment. The leases generally require the Company to pay certain expenses including taxes, insurance, maintenance, and utilities. The minimum future lease commitments under noncancelable leases in effect at December 31, 2012 are as follows:



2013	$	15,000
2014	12,585
2015	10,114
2016	8,873
2017	7,233
Thereafter	27,082
	$	80,887

Total rent expense was $16.1 million, $11.0 million and $11.6 million under operating leases for the years ended December 31, 2012, 2011 and 2010, respectively.

Letters of credit and guarantees

The Company executes letters of credit in the normal course of business to secure the delivery of product from specific vendors and also to guarantee the Company fulfilling certain performance obligations relating to certain large contracts. At December 31, 2012, the Company had $7.2 million in letters of credit.

Stockholders' equity and employee benefit plans

12 Months Ended

Dec. 31, 2012

Stockholders' Equity and Employee Benefit Plans Disclosure [Abstract]

Stockholders' equity and employee benefit plans

Combination

On August 2, 2010, the Company completed the Combination and changed its name to Forum Energy Technologies, Inc. The shareholders received the following number of FET shares for each share of the respective companies:



Triton	.3562 shares
Subsea	.3168 shares
Global Flow	.9886 shares
Allied	.4623 shares

In conjunction with the Combination, other events, including the following, occurred:


•	the conversion of options to purchase shares of the legacy companies’ shares to options to purchase FET shares,


•	the conversion of certain restricted legacy shares to FET restricted shares,


•	conversion of certain legacy options and shares to cash,


•	an offer by the Company to purchase shares from other shareholders, and


•	an offer for shareholders to purchase additional FET shares.

Conversion of options and restricted shares

FOT

While FOT changed its name to FET, option holders of FOT common stock retained their options unchanged. FOT restricted stock was also unchanged due to the Combination.

Allied, Global Flow and Subsea options

The options related to Allied, Global Flow and Subsea were converted based on the conversion ratios described above. The respective exercise price changed in proportion so that the total expected proceeds from the now converted options to purchase FET shares would be the same as the expected proceeds from the legacy options.

Triton Series A and B units

Triton issued Series A and B time-based management units, which vested over time into common units. Depending on certain factors such as whether the person was an accredited investor or the person’s country of residency, the Series A units converted into:


•	options to purchase FET shares at a ratio of .25 options per each Series A unit, or


•	restricted or unrestricted FET shares based on the legacy vesting schedule at a ratio of .171 share per each Series A unit, and/or cash.

Depending on certain factors, the Series B units converted into:


•	options to purchase FET shares at a ratio of .4809 options per each Series B unit, or


•	cash.

Offer to purchase shares

In conjunction with the Combination, the Company purchased 3,253,706 FET shares or approximately $25 million at a price of $7.68 per share. The amount is included in Treasury Stock in the Company’s consolidated balance sheet.

Offer to sell shares

In conjunction with the Combination, the Company offered to sell FET shares to certain accredited investors at a price of $7.68 per share. In addition, purchasers obtained a warrant to purchase additional FET shares equal to one-half of the number of FET shares purchased. The warrants are discussed below. Detail of the purchased shares is as follows:



Purchaser	Shares purchased	Amount			Warrants granted
Majority shareholder	6,507		$50.0	million	3,254
All others	1,578		$12.1	million	789

Capital from the majority shareholder

In addition to the above $50.0 million from the majority shareholder, the same shareholder purchased an additional $50.0 million of common shares in June 2011. Similar to the initial purchase of shares, the shareholder received a warrant to purchase one share of common stock for every two shares purchased. Based on the price of $8.07 per share, 3,098,824 warrants were issued.

Warrants

The warrants issued pursuant to the above have an initial exercise price of $7.68 per FET share and are exercisable any time up to the expiration date. The exercise price increases 0.5% at the end of each month. The warrants expire the earlier of five years from the initial issuance or 2.5 years after the consummation of an initial public offering of the Company's common stock or if other events occur such as a merger with another company.

The warrants outstanding as of December 31, 2011 were recorded to stockholders’ equity at their fair value. For the warrants issued in August 2010, a fair value of $1.94 per warrant was determined using the Black-Scholes pricing model with the following assumptions:


•	Expected life of 5 years


•	Volatility of 36.2%


•	Dividend yield of 0%


•	Risk-free interest rate of 2.05%

For the warrants issued in June 2011, a fair value of $6.19 per warrant was determined using the Black-Scholes pricing model with the following assumptions:


•	Expected life of 4 years


•	Volatility of 38.7%


•	Dividend yield of 0%


•	Risk-free interest rate of 0.99%

Employee benefit plans

The Company sponsors a 401(k) savings plan, which benefits eligible employees by allowing them the opportunity to make contributions up to certain limits. The Company contributes by matching a percentage of each employee's contributions. Subsequent to the closing of all acquisitions, employees of those acquired entities will generally be eligible to participate in the Company's 401(k) savings plan. The expense under the Company's plan was $5.8 million, $4.3 million and $3.3 million for the years ended December 31, 2012, 2011 and 2010, respectively.

Stock based compensation

12 Months Ended

Dec. 31, 2012

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock based compensation

FET share-based compensation plan

In August 2010, the Company created the 2010 Stock Incentive Plan (the "Plan") to allow for employees, directors and consultants of the Company and its subsidiaries to maintain stock ownership in the Company through the award of stock options, restricted stock, restricted stock units or any combination thereof. Under the terms of the Plan, 18.5 million shares have been authorized for awards and approximately 10.2 million shares remained available for future grants as of December 31, 2012.

Stock options

The exercise price of each option is based on the fair market value of the Company’s stock at the date of grant. Options may generally be exercised over a ten-year period and vest annually in equal increments over four years. The Company’s policy for issuing stock upon a stock option exercise is to issue new shares. Compensation expense is generally recognized on a straight line basis over the vesting period. No further stock option grants are being made under the stock plans of acquired companies. The following tables provide additional information related to the options (dollars and share data in millions):



2012 Activity	Number of shares		Weighted average exercise price		Remaining weighted average contractual life in years	Intrinsic value
Beginning balance	7.7		$	7.71	7.1	$	65.5
Granted	1.2		$	19.91
Exercised	(1.6	)	$	6.85
Forfeited/expired	(0.2	)	$	9.61
Total outstanding	7.1		$	9.84	7.4	$	105.6
Options exercisable	3.1		$	7.52	6.5	$	53.5

The assumptions used in the Black-Scholes to estimate the fair value of the options granted in 2012, 2011 and 2010 are as follows:



	2012	2011	2010
Weighted average fair value	$6.81	$5.08	$2.84
Assumptions
Expected life (in years)	6.25	6.25	6.25
Volatility	36%	34%	34%
Dividend yield	—%	—%	—%
Risk free interest rate	1.13% - 1.22%	1.19% - 2.64%	1.54% - 2.00%

The intrinsic value of the options exercised was $25.0 million in 2012, and less than $0.1 million in 2011 and 2010. The intrinsic value is the amount by which the fair value of the underlying share exceeds the exercise price of an option.

Restricted stock

Restricted stock vests over a three or four year period from the date of grant. Further information about the restricted stock follows (shares in thousands):



Restricted stock
2012 Activity
Nonvested at beginning of year	609.0
Granted	869.8
Vested	(209.0	)
Forfeited	(14.2	)
Nonvested at the end of year	1,255.6

The weighted average grant date fair value of the restricted stock was $22.26, $13.73 and $7.62 per share during the years ended December 31, 2012, 2011 and 2010, respectively. The total fair value of shares vested was $4.4 million during 2012, $1.6 million during 2011 and $1.5 million during 2010.

The total amount of share-based compensation expense recorded was approximately $8.2 million, $5.2 million and $5.1 million for the years ended December 31, 2012, 2011 and 2010, respectively. As of December 31, 2012, the Company expects to record share-based compensation expense of approximately $21.9 million over the remaining term of the restricted stock and options of approximately 3 years. Future stock option grants will result in additional compensation expense.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 718
-SubTopic 40
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-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

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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-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-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 AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-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

Related party transactions	12 Months Ended
Related party transactions	Dec. 31, 2012
Related Party Transactions [Abstract]
Related party transactions	Related party transactions The Company 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 consolidated financial statements. The Company purchased inventory and services from an affiliate of a shareholder in amounts totaling $5.1 million and $4.8 million during the years ended December 31, 2012 and 2011, respectively. The Company sold $1.1 million and $4.0 million of equipment and services to an affiliate of a stockholder during the years ended December 31, 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
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-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 4: 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=6457730&loc=d3e39678-107864

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
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-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
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-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

Business segments

12 Months Ended

Dec. 31, 2012

Segment Reporting [Abstract]

Business segments

The Company’s operations are divided into the following two operating segments, which are our reportable segments: Drilling & Subsea ("D&S") and Production & Infrastructure ("P&I"). The D&S segment designs and manufactures products and provides related services to the subsea, drilling, well construction, completion and intervention markets. The Company’s P&I segment designs and manufactures products and provides related equipment and services to the well stimulation, completion, production and infrastructure markets.

The Company’s reportable segments are strategic units that offer distinct products and services. They are managed separately since each business segment requires different marketing strategies. Operating segments have not been aggregated as part of a reportable segment. The Company evaluates the performance of its reportable segments based on operating income. This segmentation is representative of the manner in which our Chief Operating Decision Maker ("CODM") and our Board of Directors view the business. We consider the CODM to be the Chief Executive Officer.

The amounts indicated below as "Corporate" relate to costs and assets not allocated to the reportable segments. Summary financial data by segment follows (in thousands):



	Year ended December 31,
	2012			2011			2010
Revenue:
Drilling & Subsea	$	826,500		$	659,430		$	474,306
Production & Infrastructure	589,204			468,701			273,029
Intersegment eliminations	(771		)	—			—
Total Revenue	$	1,414,933		$	1,128,131		$	747,335

Operating income:
Drilling & Subsea	$	161,160		$	117,927		$	53,534
Production & Infrastructure	97,257			77,997			22,613
Corporate	(20,628		)	(20,237		)	(3,331		)
Total segment operating income	237,789			175,687			72,816
Intangible asset impairment	1,161			—			—
Contingent consideration	(4,568		)	12,100			—
Transaction expenses	1,751			3,608			—
(Gain)/loss on sale of assets	(1,435		)	(634		)	(461		)
Income from operations	$	240,880		$	160,613		$	73,277

Depreciation and amortization
Drilling & Subsea	$	37,737		$	30,853		$	25,777
Production & Infrastructure	13,163			9,845			7,439
Corporate	904			77			—
Total depreciation and amortization	$	51,804		$	40,775		$	33,216

Capital expenditures
Drilling & Subsea	$	31,118		$	22,774		$	13,188
Production & Infrastructure	13,644			13,621			6,436
Corporate	4,923			4,768			—
Total capital expenditures	$	49,685		$	41,163		$	19,624

A summary of consolidated assets by reportable segment is as follows (in thousands):



	December 31, 2012		December 31, 2011
Assets
Drilling & Subsea	$	1,413,944	$	1,193,128
Production & Infrastructure	435,496		388,570
Corporate	43,540		25,617
Total assets	$	1,892,980	$	1,607,315

Corporate assets include primarily deferred tax assets and deferred loan costs.

Revenues by shipping destination and long-lived assets by country were as follows (in thousands):



	Year ended December 31,
Revenues:	2012				2011				2010
	$		%		$		%		$		%
United States	$	894,969	63.3	%	$	707,092	62.7	%	$	408,615	54.7	%
Europe & Africa	196,841		13.9	%	162,694		14.4	%	119,204		16.0	%
Canada	114,197		8.1	%	102,916		9.1	%	69,624		9.3	%
Asia-Pacific	100,938		7.1	%	89,323		7.9	%	105,419		14.1	%
Latin America	58,420		4.1	%	32,788		2.9	%	26,228		3.5	%
Middle East	49,568		3.5	%	33,318		3.0	%	18,245		2.4	%
Total revenues	$	1,414,933	100.0	%	$	1,128,131	100.0	%	$	747,335	100.0	%



	As of December 31,
Long-lived assets:	2012		2011
United States	$	849,470	$	726,098
Europe & Africa	224,093		219,195
Canada	31,956		30,582
Asia-Pacific	7,512		7,495
Middle East	3,159		3,199
Latin America	1,913		2,160
Total long-lived assets	$	1,118,103	$	988,729

Revenues by product lines were as follows (in thousands):



	Year ended December 31,
Revenues:	2012					2011				2010
	$			%		$		%		$		%
Drilling Technologies	$	434,240		30.7	%	$	372,046	33.0	%	$	277,573	37.2	%
Subsea Technologies	250,554			17.7	%	220,944		19.6	%	196,733		26.3	%
Downhole Technologies	141,706			10.0	%	66,440		5.9	%	—		—	%
Production Equipment	227,286			16.1	%	178,110		15.8	%	125,557		16.8	%
Valve Solutions	210,608			14.9	%	173,836		15.4	%	147,472		19.7	%
Flow Equipment	151,310			10.7	%	116,755		10.3	%	—		—	%
Eliminations	(771		)	(0.1	)%	—		—	%	—		—	%
Total Revenue	$	1,414,933		100.0	%	$	1,128,131	100.0	%	$	747,335	100.0	%

- 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
-Section 50
-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
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

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

Quarterly results of operations (unaudited)

12 Months Ended

Dec. 31, 2012

Quarterly Financial Information Disclosure [Abstract]

Quarterly results of operations (unaudited)

The following tables summarize the Company's results by quarter for the years ended December 31, 2012 and 2011 (in thousands, except per share information):



	2012
(in thousands, except per share information)	Q1		Q2		Q3		Q4
Net sales	$	363,489	$	373,512	$	347,767	$	330,165
Cost of sales	237,046		250,710		231,273		232,847
Gross profit	126,443		122,802		116,494		97,318
Total operating expenses	56,230		52,964		53,590		59,393
Operating income	70,213		69,838		62,904		37,925
Total other expense	5,817		3,958		4,356		3,954
Income before income taxes	64,396		65,880		58,548		33,971
Provision for income tax expense	21,885		21,742		17,605		10,033
Net income	42,511		44,138		40,943		23,938
Less: Income attributable to noncontrolling interest	29		17		20		8
Net income attributable to common stockholders	$	42,482	$	44,121	$	40,923	$	23,930

Weighted average shares outstanding
Basic	67,960		82,495		84,993		86,077
Diluted	74,741		89,794		92,339		93,355
Earnings per share
Basic	$	0.63	$	0.53	$	0.48	$	0.28
Diluted	$	0.57	$	0.49	$	0.44	$	0.26



	2011
(in thousands, except per share information)	Q1		Q2		Q3		Q4
Net sales	$	203,052	$	257,454	$	330,906	$	336,719
Cost of sales	144,255		180,262		218,315		222,838
Gross profit	58,797		77,192		112,591		113,881
Total operating expenses	36,165		50,711		51,664		63,308
Operating income	22,632		26,481		60,927		50,573
Total other expense	3,304		5,136		6,544		4,926
Income before income taxes	19,328		21,345		54,383		45,647
Provision for income tax expense	6,930		7,453		18,793		13,934
Net income	12,398		13,892		35,590		31,713
Less: Income attributable to noncontrolling interest	29		158		80		(16		)
Net income attributable to common stockholders	$	12,369	$	13,734	$	35,510	$	31,729

Weighted average shares outstanding
Basic	58,322		59,471		67,655		67,807
Diluted	61,247		62,660		73,635		74,033
Earnings per share
Basic	$	0.21	$	0.23	$	0.52	$	0.47
Diluted	$	0.20	$	0.22	$	0.48	$	0.43

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References + Details

Summary of significant accounting policies (Policies)

12 Months Ended

Dec. 31, 2012

Accounting Policies [Abstract]

Basis of presentation

The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP").

Stock Split

Principles of consolidation

Reclassifications

Use of estimates

Cash and cash equivalents

Accounts receivable-trade

Inventories

Property and equipment

Goodwill and intangible assets

Recognition of provisions for contingencies

Revenue recognition and deferred revenue

Customers are sometimes billed in advance of services performed or products manufactured, and the Company recognizes the associated liability as deferred revenue.

Concentration of credit risk

Share-based compensation

Expected life

Expected volatility

Dividend yield

The Company has never declared or paid any cash dividends and does not plan to pay cash dividends in the foreseeable future. Therefore, a zero expected dividend yield was used in the valuation model.

Risk-free interest rate

The risk-free interest rate is based on United States Treasury zero-coupon issues with remaining terms similar to the expected term on the options.

Forfeitures

Fair value of common stock

Income taxes

Earnings per share

Non-U.S. local currency translation

Noncontrolling interest

Fair value


•	Level 1 - inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date;


•	Level 2 - inputs other than quoted prices included within Level 1 that are observable for the assets or liability, either directly or indirectly; and


•	Level 3 - inputs are unobservable for the asset or liability, which reflect the best judgment of management.

Hedging and use of derivative instruments

Recent accounting pronouncements

Summary of significant accounting policies (Tables)

12 Months Ended

Dec. 31, 2012

Accounting Policies [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

The change in amounts of the allowance for doubtful accounts during the three year period ended December 31, 2012 is as follows (in thousands):



Period ended	Balance at beginning of period		Charged to expense		Deductions or other			Balance at end of period
December 31, 2010	$	3,851	$	955	$	(681	)	$	4,125
December 31, 2011	4,125		2,867		(1,197		)	5,795
December 31, 2012	5,795		2,115		(2,019		)	5,891

Schedule of Product Warranty Liability

Changes in the Company’s warranty liability were as follows (in thousands):



Period ended	Balance at beginning of period		Charged to expense		Deductions or other			Balance at end of period
December 31, 2010	$	5,481	$	2,281	$	(1,054	)	$	6,708
December 31, 2011	6,708		1,232		(3,026		)	4,914
December 31, 2012	4,914		2,083		(3,220		)	3,777

Schedule of Earnings Per Share Reconciliation

The following is a reconciliation of the number of shares used for the basic and diluted earnings per share computations (shares in thousands):



	December 31,
	2012	2011	2010
Basic weighted average shares outstanding	80,111	63,270	53,798
Dilutive effect of stock option and restricted share plan	6,826	4,218	518
Diluted weighted average shares outstanding	86,937	67,488	54,316

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2012

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

llowing table summarizes the fair values of the assets acquired and liabilities assumed at the acquisition date of each of Wood Flowline Products, LLC, Phoinix Global LLC, Cannon Services, Ltd., P-Quip Ltd., AMC Global Group, Ltd. and Davis-Lynch, LLC (in thousands):



	2011 Acquisitions
Current assets, net of cash acquired	$	115,442
Property and equipment	18,872
Intangible assets (primarily customer relationships)	173,072
Goodwill	299,559
Current liabilities	(29,730		)
Deferred tax liabilities	(7,091		)
Net assets acquired	$	570,124

The f

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the date of the acquisition (in thousands):



	2012 Acquisitions
Current assets, net of cash acquired	$	44,221
Property and equipment	11,099
Intangible assets (primarily customer relationships)	35,800
Goodwill	85,092
Current liabilities	(36,880		)
Net assets acquired	$	139,332

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):



	Year ended December 31, 2011		Year ended December 31, 2010
Revenue	$	1,245,745	$	955,449
Net income attributable to common stockholders	113,915		46,749
Basic earnings per share	$	1.71	$	0.82
Diluted earnings per share	$	1.61	$	0.81

- 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

- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1486-128463

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1392-128463

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141
-Paragraph 51
-Subparagraph a
-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 141R
-Paragraph F4
-Subparagraph e
-Appendix F

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141
-Paragraph 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 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 68
-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 (Tables)

12 Months Ended

Dec. 31, 2012

Inventory Disclosure [Abstract]

Schedule of Inventory

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



	December 31, 2012			December 31, 2011
Raw materials and parts	$	145,970		$	112,017
Work in process	86,558			52,402
Finished goods	243,726			177,659
Gross inventories	476,254			342,078
Inventory reserve	(21,125		)	(17,440		)
Inventories	$	455,129		$	324,638

Schedule of Inventory Reserve

The change in the amounts of the inventory reserve during the three year period ended December 31, 2012 is as follows (in thousands):



Period ended	Balance at beginning of period		Charged to expense		Deductions or other			Balance at end of period
December 31, 2010	$	8,935	$	1,244	$	(73	)	$	10,106
December 31, 2011	10,106		10,910		(3,576		)	17,440
December 31, 2012	17,440		6,107		(2,422		)	21,125

Property and equipment (Tables)

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property and equipment consists of the following (in thousands):



		December 31,
	Estimated useful lives	2012			2011
Land		$	3,926		$	2,064
Buildings and leasehold improvements	7-20	47,390			39,092
Computer equipment	3-5	14,227			12,484
Machinery & equipment	5-10	94,198			78,146
Furniture & fixtures	3-10	12,678			9,819
Vehicles	3-5	11,328			9,103
Construction in progress		13,427			6,550
		197,174			157,258
Less: accumulated depreciation		(79,343		)	(67,379		)
Property & equipment, net		117,831			89,879

Rental equipment		105,162			95,707
Less: accumulated depreciation		(70,010		)	(60,746		)
Rental equipment, net		35,152			34,961

Total property & equipment, net		$	152,983		$	124,840

Goodwill and intangible assets (Tables)

12 Months Ended

Dec. 31, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in the carrying amount of goodwill from January 1, 2011 to December 31, 2012, were as follows (in thousands):



	Drilling & Subsea					Production & Infrastructure					Total
	2012		2011			2012		2011			2012		2011
Goodwill Balance at January 1, net	$	523,019	$	275,528		$	77,808	$	18,853		$	600,827	$	294,381
Acquisition	85,092		249,140			—		59,102			85,092		308,242
Purchase accounting adjustment	—		—			1,379		—			1,379		—
Impact of non-U.S. local currency translation	8,409		(1,649		)	92		(147		)	8,501		(1,796		)
Goodwill Balance at December 31, net	$	616,520	$	523,019		$	79,279	$	77,808		$	695,799	$	600,827

Summary of Intangible Assets

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



	December 31, 2012
	Gross carrying amount		Accumulated amortization			Net amortizable intangibles		Amortization period (in years)
Customer relationships	$	241,358	$	(49,766	)	$	191,592	4-15
Patents and technology	19,780		(4,360		)	15,420		5-17
Non-compete agreements	5,880		(4,420		)	1,460		3-6
Trade names	40,255		(8,680		)	31,575		10-15
Distributor relationships	22,160		(10,018		)	12,142		8-15
Trademark	5,230		—			5,230		Indefinite
Intangible Assets Total	$	334,663	$	(77,244	)	$	257,419



	December 31, 2011
	Gross carrying amount		Accumulated amortization			Net amortizable intangibles		Amortization period (in years)
Customer relationships	$	212,193	$	(36,420	)	$	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	35,367		(6,088		)	29,279		10-15
Distributor relationships	22,160		(8,750		)	13,410		8-15
Trademark	5,230		—			5,230		Indefinite
Intangible Assets Total	$	299,356	$	(58,042	)	$	241,314

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The total weighted average amortization period is 14 years and the estimated future amortization expense for the next five years is as follows (in thousands):



Year ending December 31,
2013	$	22,509
2014	21,698
2015	21,752
2016	21,173
2017	20,827

- Definition

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

+ References + Details

Debt (Tables)

12 Months Ended

Dec. 31, 2012

Debt Disclosure [Abstract]

Schedule of Debt

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



	December 31, 2012			December 31, 2011
Senior secured revolving credit facility	$	122,480		$	363,694
Term loan	296,250			300,000
Other debt	1,975			1,861
Total debt	420,705			665,555
Less: current maturities	(20,504		)	(5,176		)
Long-term debt	$	400,201		$	660,379

Schedule of Maturities of Long-term Debt

Future principal payments under long-term debt for each of the years ending December 31 are as follows (in thousands):



2013	$	20,504
2014	30,105
2015	33,775
2016	336,298
2017	23
Thereafter	—
	$	420,705

Income taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The components of the Company's income before income taxes for the years ended December 31, 2012, 2011 and 2010 are as follows (in thousands):



	2012		2011		2010
U.S.	$	140,179	$	88,968	$	24,162
Non-U.S.	82,616		51,735		20,184
Income before income taxes	$	222,795	$	140,703	$	44,346

Schedule of Components of Income Tax Expense (Benefit)

The Company’s provision (benefit) for income taxes from continuing operations for the years ended December 31, 2012, 2011 and 2010 are as follows (in thousands):



	2012			2011			2010
Current
U.S. Federal and state	$	55,591		$	34,351		$	13,869
Non-U.S.	22,023			14,241			7,606
Total current	77,614			48,592			21,475
Deferred
U.S. Federal and state	(4,788		)	386			132
Non-U.S.	(1,561		)	(1,868		)	(1,310		)
Total deferred	(6,349		)	(1,482		)	(1,178		)
Provision for income tax expense	$	71,265		$	47,110		$	20,297

Schedule of Effective Income Tax Rate Reconciliation



	2012					2011					2010
Income tax expense at the statutory rate	$	77,978		35.0	%	$	49,246		35.0	%	$	15,521		35.0	%
State taxes, net of federal tax benefit	3,847			1.7	%	3,193			2.3	%	1,172			2.6	%
Non-U.S. operations	(7,363		)	(3.3	)%	(4,495		)	(3.2	)%	(1,273		)	(2.9	)%
Domestic incentives	(2,202		)	(1.0	)%	(1,179		)	(0.8	)%	(1,107		)	(2.5	)%
Prior year federal, non-U.S. and state tax	(1,736		)	(0.8	)%	(169		)	(0.1	)%	1,431			3.2	%
Nondeductible expenses	666			0.3	%	758			0.5	%	3,936			8.9	%
Other	75			0.1	%	(244		)	(0.2	)%	617			1.4	%
	$	71,265		32.0	%	$	47,110		33.5	%	$	20,297		45.7	%

Schedule of Deferred Tax Assets and Liabilities

The primary components of deferred taxes include (in thousands):



	2012			2011
Deferred tax assets
Reserves and accruals	$	12,701		$	8,347
Inventory	13,940			9,905
Stock awards	4,609			3,118
Interest rate swaps	250			621
Non-U.S. tax credit carryforwards	—			3,081
NOL and other tax credit carryforwards	1,213			1,332
Other	5			—
Total deferred tax assets	32,718			26,404
Deferred tax liabilities
Property and equipment	(12,226		)	(10,077		)
Goodwill and intangible assets	(38,190		)	(30,519		)
Unremitted non-U.S. earnings	(740		)	(740		)
Prepaid expenses and other	(868		)	(1,535		)
Total deferred tax liabilities	(52,024		)	(42,871		)
Net deferred tax liabilities	$	(19,306	)	$	(16,467	)

Schedule of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of uncertain tax positions is as follows (in thousands):



Balance at January 1, 2012	$	2,095
Additional based on tax positions related to prior years	2,532
Reduction based on tax positions related to prior years	—
Lapse of statute of limitations	(926		)
Balance at December 31, 2012	3,701
Deferred tax benefits on uncertain tax position related to U.S. and non-U.S. income tax	(401		)
Net balance that, if recognized, would impact the Company's effect tax rate	$	3,300

Fair value measurements (Tables)

12 Months Ended

Dec. 31, 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 December 31, 2012 and 2011 (in thousands):



Balance as of December 31, 2012	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total
Liabilities
Interest rate derivatives	$	—	$	—	$	714	$	714
Contingent consideration	—		—		15,664		15,664
Total Liabilities	$	—	$	—	$	16,378	$	16,378
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	(4,568		)	(1,059		)
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 December 31, 2012	$	15,664		$	714



	Contingent consideration		Interest rate derivatives
Balance at December 31, 2010	$	—	$	4,356
Total (Gains) or Losses (Realized or Unrealized):
Included in Earnings	12,100		(389		)
Included in Other Comprehensive Income	—		(2,194		)
Acquisition related additions	29,700		—
Payment of contingent consideration	—		—
Reclassified to equity	—		—
Purchases, Issuances and Settlements	—		—
Transfers In and/or Out of Level 3	—		—
Balance as of December 31, 2011	$	41,800	$	1,773

- 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

Commitments and contingencies (Tables)

12 Months Ended

Dec. 31, 2012

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases

The minimum future lease commitments under noncancelable leases in effect at December 31, 2012 are as follows:



2013	$	15,000
2014	12,585
2015	10,114
2016	8,873
2017	7,233
Thereafter	27,082
	$	80,887

Stockholders' equity and employee benefit plans (Tables)

12 Months Ended

Dec. 31, 2012

Stockholders' Equity and Employee Benefit Plans Disclosure [Abstract]

Business Combination, Schedule of Shares Issued

The shareholders received the following number of FET shares for each share of the respective companies:



Triton	.3562 shares
Subsea	.3168 shares
Global Flow	.9886 shares
Allied	.4623 shares

Business Combination, Schedule of Shares Purchased and Warrants Granted for Business Combination

Detail of the purchased shares is as follows:



Purchaser	Shares purchased	Amount			Warrants granted
Majority shareholder	6,507		$50.0	million	3,254
All others	1,578		$12.1	million	789

Stock based compensation (Tables)

12 Months Ended

Dec. 31, 2012

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity

The following tables provide additional information related to the options (dollars and share data in millions):



2012 Activity	Number of shares		Weighted average exercise price		Remaining weighted average contractual life in years	Intrinsic value
Beginning balance	7.7		$	7.71	7.1	$	65.5
Granted	1.2		$	19.91
Exercised	(1.6	)	$	6.85
Forfeited/expired	(0.2	)	$	9.61
Total outstanding	7.1		$	9.84	7.4	$	105.6
Options exercisable	3.1		$	7.52	6.5	$	53.5

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The assumptions used in the Black-Scholes to estimate the fair value of the options granted in 2012, 2011 and 2010 are as follows:



	2012	2011	2010
Weighted average fair value	$6.81	$5.08	$2.84
Assumptions
Expected life (in years)	6.25	6.25	6.25
Volatility	36%	34%	34%
Dividend yield	—%	—%	—%
Risk free interest rate	1.13% - 1.22%	1.19% - 2.64%	1.54% - 2.00%

Nonvested Restricted Stock Shares Activity

Restricted stock vests over a three or four year period from the date of grant. Further information about the restricted stock follows (shares in thousands):



Restricted stock
2012 Activity
Nonvested at beginning of year	609.0
Granted	869.8
Vested	(209.0	)
Forfeited	(14.2	)
Nonvested at the end of year	1,255.6

Business segments (Tables)

12 Months Ended

Dec. 31, 2012

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Summary financial data by segment follows (in thousands):



	Year ended December 31,
	2012			2011			2010
Revenue:
Drilling & Subsea	$	826,500		$	659,430		$	474,306
Production & Infrastructure	589,204			468,701			273,029
Intersegment eliminations	(771		)	—			—
Total Revenue	$	1,414,933		$	1,128,131		$	747,335

Operating income:
Drilling & Subsea	$	161,160		$	117,927		$	53,534
Production & Infrastructure	97,257			77,997			22,613
Corporate	(20,628		)	(20,237		)	(3,331		)
Total segment operating income	237,789			175,687			72,816
Intangible asset impairment	1,161			—			—
Contingent consideration	(4,568		)	12,100			—
Transaction expenses	1,751			3,608			—
(Gain)/loss on sale of assets	(1,435		)	(634		)	(461		)
Income from operations	$	240,880		$	160,613		$	73,277

Depreciation and amortization
Drilling & Subsea	$	37,737		$	30,853		$	25,777
Production & Infrastructure	13,163			9,845			7,439
Corporate	904			77			—
Total depreciation and amortization	$	51,804		$	40,775		$	33,216

Capital expenditures
Drilling & Subsea	$	31,118		$	22,774		$	13,188
Production & Infrastructure	13,644			13,621			6,436
Corporate	4,923			4,768			—
Total capital expenditures	$	49,685		$	41,163		$	19,624

A summary of consolidated assets by reportable segment is as follows (in thousands):



	December 31, 2012		December 31, 2011
Assets
Drilling & Subsea	$	1,413,944	$	1,193,128
Production & Infrastructure	435,496		388,570
Corporate	43,540		25,617
Total assets	$	1,892,980	$	1,607,315

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

Revenues by shipping destination and long-lived assets by country were as follows (in thousands):



	Year ended December 31,
Revenues:	2012				2011				2010
	$		%		$		%		$		%
United States	$	894,969	63.3	%	$	707,092	62.7	%	$	408,615	54.7	%
Europe & Africa	196,841		13.9	%	162,694		14.4	%	119,204		16.0	%
Canada	114,197		8.1	%	102,916		9.1	%	69,624		9.3	%
Asia-Pacific	100,938		7.1	%	89,323		7.9	%	105,419		14.1	%
Latin America	58,420		4.1	%	32,788		2.9	%	26,228		3.5	%
Middle East	49,568		3.5	%	33,318		3.0	%	18,245		2.4	%
Total revenues	$	1,414,933	100.0	%	$	1,128,131	100.0	%	$	747,335	100.0	%



	As of December 31,
Long-lived assets:	2012		2011
United States	$	849,470	$	726,098
Europe & Africa	224,093		219,195
Canada	31,956		30,582
Asia-Pacific	7,512		7,495
Middle East	3,159		3,199
Latin America	1,913		2,160
Total long-lived assets	$	1,118,103	$	988,729

Revenue from External Customers by Products and Services

Revenues by product lines were as follows (in thousands):



	Year ended December 31,
Revenues:	2012					2011				2010
	$			%		$		%		$		%
Drilling Technologies	$	434,240		30.7	%	$	372,046	33.0	%	$	277,573	37.2	%
Subsea Technologies	250,554			17.7	%	220,944		19.6	%	196,733		26.3	%
Downhole Technologies	141,706			10.0	%	66,440		5.9	%	—		—	%
Production Equipment	227,286			16.1	%	178,110		15.8	%	125,557		16.8	%
Valve Solutions	210,608			14.9	%	173,836		15.4	%	147,472		19.7	%
Flow Equipment	151,310			10.7	%	116,755		10.3	%	—		—	%
Eliminations	(771		)	(0.1	)%	—		—	%	—		—	%
Total Revenue	$	1,414,933		100.0	%	$	1,128,131	100.0	%	$	747,335	100.0	%

- 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

Quarterly results of operations (unaudited) (Tables)

12 Months Ended

Dec. 31, 2012

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

The following tables summarize the Company's results by quarter for the years ended December 31, 2012 and 2011 (in thousands, except per share information):



	2012
(in thousands, except per share information)	Q1		Q2		Q3		Q4
Net sales	$	363,489	$	373,512	$	347,767	$	330,165
Cost of sales	237,046		250,710		231,273		232,847
Gross profit	126,443		122,802		116,494		97,318
Total operating expenses	56,230		52,964		53,590		59,393
Operating income	70,213		69,838		62,904		37,925
Total other expense	5,817		3,958		4,356		3,954
Income before income taxes	64,396		65,880		58,548		33,971
Provision for income tax expense	21,885		21,742		17,605		10,033
Net income	42,511		44,138		40,943		23,938
Less: Income attributable to noncontrolling interest	29		17		20		8
Net income attributable to common stockholders	$	42,482	$	44,121	$	40,923	$	23,930

Weighted average shares outstanding
Basic	67,960		82,495		84,993		86,077
Diluted	74,741		89,794		92,339		93,355
Earnings per share
Basic	$	0.63	$	0.53	$	0.48	$	0.28
Diluted	$	0.57	$	0.49	$	0.44	$	0.26



	2011
(in thousands, except per share information)	Q1		Q2		Q3		Q4
Net sales	$	203,052	$	257,454	$	330,906	$	336,719
Cost of sales	144,255		180,262		218,315		222,838
Gross profit	58,797		77,192		112,591		113,881
Total operating expenses	36,165		50,711		51,664		63,308
Operating income	22,632		26,481		60,927		50,573
Total other expense	3,304		5,136		6,544		4,926
Income before income taxes	19,328		21,345		54,383		45,647
Provision for income tax expense	6,930		7,453		18,793		13,934
Net income	12,398		13,892		35,590		31,713
Less: Income attributable to noncontrolling interest	29		158		80		(16		)
Net income attributable to common stockholders	$	12,369	$	13,734	$	35,510	$	31,729

Weighted average shares outstanding
Basic	58,322		59,471		67,655		67,807
Diluted	61,247		62,660		73,635		74,033
Earnings per share
Basic	$	0.21	$	0.23	$	0.52	$	0.47
Diluted	$	0.20	$	0.22	$	0.48	$	0.43

Nature of operations (Details) $ / shares in Units, $ in Thousands		12 Months Ended
	Apr. 17, 2012 USD ($) $ / shares shares	Dec. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)	Aug. 02, 2010 private_equity_funds
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 \| $	$ 256,400	$ 256,381	$ 0	$ 0
Proceeds from issuance of private placement \| $	$ 50,000	$ 50,000	$ 0	$ 0
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

Summary of significant accounting policies (Stock split) (Details)	3 Months Ended
	Mar. 31, 2012 shares
Accounting Policies [Abstract]
Stock split (in shares)	37

Summary of significant accounting policies (Allowance for doubtful accounts) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Allowance for Doubtful Accounts Receivable [Roll Forward]
Balance at beginning of period	$ 5,795	$ 4,125	$ 3,851
Charged to expenses	2,115	2,867	955
Deductions or other	(2,019)	(1,197)	(681)
Balance at end of period	$ 5,891	$ 5,795	$ 4,125

Summary of significant accounting policies (Property and equipment) (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2012 USD ($) reporting_unit	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($) $ / shares
Property, Plant and Equipment [Line Items]
Number of reporting units \| reporting_unit	6
Estimated useful life, intangible assets	14 years
Impairment of intangible assets	$ 1,161	$ 0	$ 0
Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life, property and equipment	3 years
Estimated useful life, intangible assets	3 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life, property and equipment	20 years
Estimated useful life, intangible assets	17 years
Rental Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life, property and equipment	3 years
Rental Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life, property and equipment	10 years
Service Life [Member] \| Depreciation Expense [Member]
Property, Plant and Equipment [Line Items]
Change in accounting estimate, financial impact			3,200
Service Life [Member] \| Net Income [Member]
Property, Plant and Equipment [Line Items]
Change in accounting estimate, financial impact			$ 2,100
Service Life [Member] \| Earnings Per Share, Diluted [Member]
Property, Plant and Equipment [Line Items]
Change in accounting estimate, financial impact (in dollars per share) \| $ / shares			$ 0.04
Intangible Assets, Amortization Period [Member] \| Amortization Expense [Member]
Property, Plant and Equipment [Line Items]
Change in accounting estimate, financial impact			$ 2,200
Intangible Assets, Amortization Period [Member] \| Net Income [Member]
Property, Plant and Equipment [Line Items]
Change in accounting estimate, financial impact			$ 1,400
Intangible Assets, Amortization Period [Member] \| Earnings Per Share, Diluted [Member]
Property, Plant and Equipment [Line Items]
Change in accounting estimate, financial impact (in dollars per share) \| $ / shares			$ 0.03

(Change in warranty liability) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance at beginning of period	$ 4,914	$ 6,708	$ 5,481
Charged to expense	2,083	1,232	2,281
Deductions or other	(3,220)	(3,026)	(1,054)
Balance at end of period	$ 3,777	$ 4,914	$ 6,708

Summary of significant accounting policies (Earnings per share reconciliation) (Details) - shares shares in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Accounting Policies [Abstract]
Diluted earnings per share calculation excluded shares									1,000	400	16,300
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Basic weighted average shares outstanding (in shares)	86,077	84,993	82,495	67,960	67,807	67,655	59,471	58,322	80,111	63,270	53,798
Dilutive effect of stock option and restricted share plan (in shares)									6,826	4,218	518
Diluted weighted average shares outstanding (in shares)	93,355	92,339	89,794	74,741	74,033	73,635	62,660	61,247	86,937	67,488	54,316

- Definition

The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.

+ References + Details

- Definition

Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1448-109256

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Weighted-Average Number of Common Shares Outstanding
-URI http://asc.fasb.org/extlink&oid=6528421

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 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 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 8
-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 128
-Paragraph 171
-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 128
-Paragraph 40
-Subparagraph a
-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

Summary of significant accounting policies (Hedging and use of derivative instruments) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Derivative [Line Items]
Interest rate derivatives	$ 714	$ 1,773
Significant unobservable inputs (Level 3) [Member]
Derivative [Line Items]
Interest rate derivatives	$ 714	$ 1,773

Acquisitions (Details) $ in Thousands	1 Months Ended		3 Months Ended		12 Months Ended
Acquisitions (Details) $ in Thousands	Apr. 30, 2011 USD ($) payments	Feb. 28, 2011 USD ($) payments	Dec. 31, 2012 USD ($) business	Jun. 30, 2012 USD ($)	Dec. 31, 2012 USD ($)	Dec. 31, 2011 USD ($) business	Dec. 31, 2010 USD ($)
Business Acquisition [Line Items]
Contingent consideration expense (benefit)					$ (4,568)	$ 12,100	$ 0
2012 Acquisitions [Member]
Business Acquisition [Line Items]
Number of businesses acquired (in businesses) \| business			4
2011 Acquisitions [Member]
Business Acquisition [Line Items]
Number of businesses acquired (in businesses) \| business						8
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			$ 7,800		7,800	$ 22,100
Reclassification from liability to equity						3,300
Contingent consideration cash payment				$ 6,100
Contingent consideration expense (benefit)					(4,800)	8,700
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			$ 7,900		7,900	19,700
Contingent consideration cash payment				$ 12,100
Contingent consideration expense (benefit)					$ 200	$ 3,400

Acquisitions (Purchase Price Allocation) (Details) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Business Acquisition [Line Items]
Goodwill	$ 695,799	$ 600,827	$ 294,381
2012 Acquisitions [Member]
Business Acquisition [Line Items]
Current assets, net of cash acquired	44,221
Property and equipment	11,099
Intangible assets (primarily customer relationships)	35,800
Goodwill	85,092
Current liabilities	(36,880)
Net assets acquired	$ 139,332
2011 Acquisitions [Member]
Business Acquisition [Line Items]
Current assets, net of cash acquired		115,442
Property and equipment		18,872
Intangible assets (primarily customer relationships)		173,072
Goodwill		299,559
Current liabilities		(29,730)
Deferred tax liabilities		(7,091)
Net assets acquired		$ 570,124

Acquisitions (Pro Forma Information) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010
Business Combinations [Abstract]
Revenue	$ 1,245,745	$ 955,449
Net income attributable to common stockholders	$ 113,915	$ 46,749
Basic earnings per share (in dollars per share)	$ 1.71	$ 0.82
Diluted earnings per share (in dollars per share)	$ 1.61	$ 0.81
Line of credit facility, interest rate during period		4.70%

- 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	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Inventory Disclosure [Abstract]
Raw materials and parts	$ 145,970	$ 112,017
Work in process	86,558	52,402
Finished goods	243,726	177,659
Gross inventories	476,254	342,078
Inventory reserve	(21,125)	(17,440)	$ (10,106)	$ (8,935)
Inventories	$ 455,129	$ 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

Inventories (Inventory reserve) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Inventory Valuation Reserves Increase (Decrease) [Roll Forward]
Balance at beginning of period	$ 17,440	$ 10,106	$ 8,935
Charged to expense	6,107	10,910	1,244
Deductions or other	(2,422)	(3,576)	(73)
Balance at end of period	$ 21,125	$ 17,440	$ 10,106

- Definition

+ References

+ Details

Property and equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Property and equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Property, Plant and Equipment, Net [Abstract]
Property & equipment, excluding rental equipment, gross	$ 197,174	$ 157,258
Less: accumulated depreciation, excluding rental equipment	(79,343)	(67,379)
Property & equipment, excluding rental equipment, net	117,831	89,879
Property & equipment, net	152,983	124,840
Depreciation expense	$ 31,458	26,245	$ 21,889
Minimum [Member]
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	3 years
Maximum [Member]
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	20 years
Land [Member]
Property, Plant and Equipment, Net [Abstract]
Property & equipment, excluding rental equipment, gross	$ 3,926	2,064
Buildings and leasehold improvements [Member]
Property, Plant and Equipment, Net [Abstract]
Property & equipment, excluding rental equipment, gross	$ 47,390	39,092
Buildings and leasehold improvements [Member] \| Minimum [Member]
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	7 years
Buildings and leasehold improvements [Member] \| Maximum [Member]
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	20 years
Computer equipment [Member]
Property, Plant and Equipment, Net [Abstract]
Property & equipment, excluding rental equipment, gross	$ 14,227	12,484
Computer equipment [Member] \| Minimum [Member]
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	3 years
Computer equipment [Member] \| Maximum [Member]
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	5 years
Machinery & equipment [Member]
Property, Plant and Equipment, Net [Abstract]
Property & equipment, excluding rental equipment, gross	$ 94,198	78,146
Machinery & equipment [Member] \| Minimum [Member]
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	5 years
Machinery & equipment [Member] \| Maximum [Member]
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	10 years
Furniture & fixtures [Member]
Property, Plant and Equipment, Net [Abstract]
Property & equipment, excluding rental equipment, gross	$ 12,678	9,819
Furniture & fixtures [Member] \| Minimum [Member]
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	3 years
Furniture & fixtures [Member] \| Maximum [Member]
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	10 years
Vehicles [Member]
Property, Plant and Equipment, Net [Abstract]
Property & equipment, excluding rental equipment, gross	$ 11,328	9,103
Vehicles [Member] \| Minimum [Member]
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	3 years
Vehicles [Member] \| Maximum [Member]
Property, Plant and Equipment, Net [Abstract]
Estimated useful life, property and equipment	5 years
Construction in progress [Member]
Property, Plant and Equipment, Net [Abstract]
Property & equipment, excluding rental equipment, gross	$ 13,427	6,550
Rental equipment [Member]
Property, Plant and Equipment, Net [Abstract]
Property & equipment, gross	105,162	95,707
Less: accumulated depreciation	(70,010)	(60,746)
Property & equipment, net	$ 35,152	$ 34,961

Goodwill and intangible assets (Schedule of Goodwill) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Goodwill [Roll Forward]
Goodwill Balance at January 1, net	$ 600,827	$ 294,381
Acquisition	85,092	308,242
Purchase accounting adjustment	1,379	0
Impact of non-U.S. local currency translation	8,501	(1,796)
Goodwill Balance at December 31, net	695,799	600,827
Accumulated impairment losses on goodwill	40,000	40,000
Drilling & Subsea [Member]
Goodwill [Roll Forward]
Goodwill Balance at January 1, net	523,019	275,528
Acquisition	85,092	249,140
Purchase accounting adjustment	0	0
Impact of non-U.S. local currency translation	8,409	(1,649)
Goodwill Balance at December 31, net	616,520	523,019
Production & Infrastructure [Member]
Goodwill [Roll Forward]
Goodwill Balance at January 1, net	77,808	18,853
Acquisition	0	59,102
Purchase accounting adjustment	1,379	0
Impact of non-U.S. local currency translation	92	(147)
Goodwill Balance at December 31, net	$ 79,279	$ 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	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ (77,244)	$ (58,042)
Intangible Assets Total, Gross carrying amount	334,663	299,356
Intangible Assets Total, Net amortizable intangibles	$ 257,419	241,314
Amortization period (in years)	14 years
Impairment of intangible assets	$ 1,161	0	$ 0
Trademark [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	5,230	5,230
Customer relationships [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	241,358	212,193
Accumulated amortization	(49,766)	(36,420)
Net amortizable intangibles	191,592	175,773
Patents and technology [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	19,780	19,172
Accumulated amortization	(4,360)	(2,676)
Net amortizable intangibles	15,420	16,496
Non-compete agreements [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	5,880	5,234
Accumulated amortization	(4,420)	(4,108)
Net amortizable intangibles	1,460	1,126
Trade names [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	40,255	35,367
Accumulated amortization	(8,680)	(6,088)
Net amortizable intangibles	31,575	29,279
Distributor relationships [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Gross carrying amount	22,160	22,160
Accumulated amortization	(10,018)	(8,750)
Net amortizable intangibles	$ 12,142	$ 13,410
Minimum [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period (in years)	3 years
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]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period (in years)	17 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] \| Distributor relationships [Member]
Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Amortization period (in years)	15 years	15 years

Goodwill and intangible assets (Schedule of Amortization Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 20,346	$ 14,530	$ 11,327
Estimated useful life, intangible assets	14 years
Estimated future amortization expense
2013	$ 22,509
2014	21,698
2015	21,752
2016	21,173
2017	$ 20,827

Debt (Schedule of Long-Term Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Debt Instrument [Line Items]
Total debt	$ 420,705	$ 665,555
Less: current maturities	(20,504)	(5,176)
Long-term debt	400,201	660,379
Senior Secured Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total debt	122,480	363,694
Term Loan [Member]
Debt Instrument [Line Items]
Total debt	296,250	300,000
Other Debt [Member]
Debt Instrument [Line Items]
Total debt	$ 1,975	$ 1,861

Debt (Narrative) (Details) $ in Thousands		12 Months Ended
Debt (Narrative) (Details) $ in Thousands	Apr. 17, 2012 USD ($) shares	Dec. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)
Debt Instrument [Line Items]
Proceeds from issuance of initial public offering	$ 256,400	$ 256,381	$ 0	$ 0
Proceeds from issuance of private placement	$ 50,000	$ 50,000	$ 0	$ 0
Credit Facility [Member]
Debt Instrument [Line Items]
Weighted average interest rates		2.21%	2.78%
Total funded debt to EBITDA ratio for periods ending through December 31, 2012		3.75
Total funded debt to EBITDA ratio for periods ending from January 1, 2013 through December 31, 2013		3.50
Total funded debt to EBITDA ratio for periods ending from January 1, 2014 through December 31, 2014		3.25
Total funded debt to EBITDA ratio for periods ending thereafter		3.00
Maximum leverage ratio		4.00
EBITDA to interest expense ratio		3.0
Total secured funded debt to EBITDA ratio		3.00
Line of credit facility, remaining borrowing capacity		$ 474,100
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) \| shares	13,889,470
Private Placement [Member]
Debt Instrument [Line Items]
Stock issued during the period (in shares) \| shares	2,666,666

Debt (Debt Issue Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
Debt (Debt Issue Costs) (Details) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Debt Instrument [Line Items]
Amortization of deferred loan costs	$ 2,101	$ 2,102	$ 1,784
Deferred loan costs written off	$ 0	$ 0	$ 6,082

Debt (Schedule of Future Payments) (Details) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Debt Disclosure [Abstract]
2013	$ 20,504
2014	30,105
2015	33,775
2016	336,298
2017	23
Thereafter	0
Total debt	$ 420,705	$ 665,555

Income taxes (Schedule of Income before Income Tax, Domestic and Foreign) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income Tax Disclosure [Abstract]
U.S.									$ 140,179	$ 88,968	$ 24,162
Non-U.S.									82,616	51,735	20,184
Income before income taxes	$ 33,971	$ 58,548	$ 65,880	$ 64,396	$ 45,647	$ 54,383	$ 21,345	$ 19,328	$ 222,795	$ 140,703	$ 44,346

Income taxes (Schedule of Components of Income Tax Expense (Benefit)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Current
U.S. Federal and state	$ 55,591	$ 34,351	$ 13,869
Non-U.S.	22,023	14,241	7,606
Total current	77,614	48,592	21,475
Deferred
U.S. Federal and state	(4,788)	386	132
Non-U.S.	(1,561)	(1,868)	(1,310)
Total deferred	(6,349)	(1,482)	(1,178)
Provision for income tax expense	$ 71,265	$ 47,110	$ 20,297

- Definition

The component of income tax expense for the period representing amounts of income taxes paid or payable (or refundable) for the period for all income tax obligations as determined by applying the provisions of relevant enacted tax laws to relevant amounts of taxable Income or Loss from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 2: 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 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Current Tax Expense (or Benefit)
-URI http://asc.fasb.org/extlink&oid=6509736

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.7)
-URI http://asc.fasb.org/extlink&oid=6889476&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 45
-Subparagraph a
-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 SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 6
-Section I
-Subsection 7

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 289
-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

The component of total income tax expense for the period comprised of the increase (decrease) in the entity's net foreign deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of applicable enacted tax laws of countries other than the country of domicile.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Deferred Tax Expense (or Benefit)
-URI http://asc.fasb.org/extlink&oid=6510177

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.7)
-URI http://asc.fasb.org/extlink&oid=6889476&loc=d3e330036-122817

Reference 3: 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 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 45
-Subparagraph 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 SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 6
-Section I
-Subsection 7

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 289
-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

The component of income tax expense for the period representing the increase (decrease) in the entity's deferred tax assets and liabilities pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Deferred Tax Expense (or Benefit)
-URI http://asc.fasb.org/extlink&oid=6510177

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 4: 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 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.7)
-URI http://asc.fasb.org/extlink&oid=6889476&loc=d3e330036-122817

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 289
-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 109
-Paragraph 45
-Subparagraph 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 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 6
-Section I
-Subsection 7

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 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.

+ Details

- Definition

The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to pretax Income or Loss from continuing operations; income tax expense or benefit may include interest and penalties on tax uncertainties based on the entity's accounting policy.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (a),(b)
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 45
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=21917399&loc=d3e32247-109318

Reference 3: 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 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32672-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 45, 46
-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 SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 48
-Paragraph 15, 16, 19
-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

Income taxes (Income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract]
Income tax expense at the statutory rate	$ 77,978	$ 49,246	$ 15,521
State taxes, net of federal tax benefit	3,847	3,193	1,172
Non-U.S. operations	(7,363)	(4,495)	(1,273)
Domestic incentives	(2,202)	(1,179)	(1,107)
Prior year federal, non-U.S. and state tax	(1,736)	(169)	1,431
Nondeductible expenses	666	758	3,936
Other	75	(244)	617
Provision for income tax expense	$ 71,265	$ 47,110	$ 20,297
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Income tax expense at the statutory rate	35.00%	35.00%	35.00%
State taxes, net of federal tax benefit	1.70%	2.30%	2.60%
Non-U.S. operations	(3.30%)	(3.20%)	(2.90%)
Domestic incentives	(1.00%)	(0.80%)	(2.50%)
Prior year federal, non-U.S. and state tax	(0.80%)	(0.10%)	3.20%
Nondeductible expenses	0.30%	0.50%	8.90%
Other	0.10%	(0.20%)	1.40%
Effective income tax rate	32.00%	33.50%	45.70%

Income taxes (Deferred Taxes) (Details) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Deferred tax assets
Reserves and accruals	$ 12,701	$ 8,347
Inventory	13,940	9,905
Stock awards	4,609	3,118
Interest rate swaps	250	621
Non-U.S. tax credit carryforwards	0	3,081
NOL and other tax credit carryforwards	1,213	1,332
Other	5	0
Total deferred tax assets	32,718	26,404
Deferred tax liabilities
Property equipment	(12,226)	(10,077)
Goodwill and intangible assets	(38,190)	(30,519)
Unremitted non-U.S. earnings	(740)	(740)
Prepaid expenses and other	(868)	(1,535)
Total deferred tax liabilities	(52,024)	(42,871)
Net deferred tax liabilities	$ (19,306)	$ (16,467)

Income taxes (Narrative) (Details) $ in Millions	Dec. 31, 2012 USD ($)
U.S. [Member]
Operating Loss and Tax Credit Carryforwards [Line Items]
Net operating loss carryforwards	$ 1.9
Non-U.S. [Member]
Operating Loss and Tax Credit Carryforwards [Line Items]
Net operating loss carryforwards	$ 1.8

(Uncertain Tax Positions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1, 2012	$ 2,095
Additional based on tax positions related to prior years	2,532
Reduction based on tax positions related to prior years	0
Lapse of statute of limitations	(926)
Balance at December 31, 2012	3,701	$ 2,095
Deferred tax benefits on uncertain tax position related to U.S. and non-U.S. income tax	(401)
Net balance that, if recognized, would impact the Company's effect tax rate	3,300
Accrued interest and penalties	200	200
Change in accrued interest and penalties related to uncertain tax positions	$ 0	$ 0

Fair value measurements (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative instruments, current liability	$ 714	$ 185
Derivative instruments, long-term liability	0	1,588
Contingent Consideration [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration	(4,568)	12,100
Reclassified to equity	3,341	0
Carrying (Reported) Amount, Fair Value Disclosure [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt instrument, fair value disclosure	420,400
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	$ 714	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	$ 714	$ 1,773

Fair value measurements (Financial Liabilities Measured at Fair Value on a Recurring Basis) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate derivatives	$ 714	$ 1,773
Contingent consideration	15,664	41,800
Total Liabilities	16,378	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	714	1,773
Contingent consideration	15,664	41,800
Total Liabilities	$ 16,378	$ 43,573

Fair value measurements (Fair Value of Financial Liabilities Classified as Level 3) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Contingent consideration [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 41,800	$ 0
Total (Gains) or Losses (Realized or Unrealized):
Included in Earnings	(4,568)	12,100
Included in Other Comprehensive Income	0	0
Acquisition related additions		29,700
Payment of contingent consideration	(18,227)	0
Reclassified to equity	(3,341)	0
Purchases, Issuances and Settlements	0	0
Transfers In and/or Out of Level 3	0	0
Ending balance	15,664	41,800
Interest rate derivatives [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1,773	4,356
Total (Gains) or Losses (Realized or Unrealized):
Included in Earnings	(1,059)	(389)
Included in Other Comprehensive Income	0	(2,194)
Acquisition related additions		0
Payment of contingent consideration	0	0
Reclassified to equity	0	0
Purchases, Issuances and Settlements	0	0
Transfers In and/or Out of Level 3	0	0
Ending balance	$ 714	$ 1,773

Commitments and contingencies (Operating Leases) (Details) $ in Thousands	Dec. 31, 2012 USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2013	$ 15,000
2014	12,585
2015	10,114
2016	8,873
2017	7,233
Thereafter	27,082
Total future operating lease payments	$ 80,887

Stockholders' equity and employee benefit plans (Details) $ / shares in Units, $ in Millions	1 Months Ended
	Aug. 31, 2010 USD ($) $ / shares shares	Aug. 02, 2010
Schedule of Shares Issued for Business Combination [Line Items]
Treasury stock, shares \| shares	3,253,706
Treasury stock, value \| $	$ 25
Treasury stock, price per share \| $ / shares	$ 7.68
Triton [Member]
Schedule of Shares Issued for Business Combination [Line Items]
Stock conversion ratio		0.3562
Subsea [Member]
Schedule of Shares Issued for Business Combination [Line Items]
Stock conversion ratio		0.3168
Global Flow [Member]
Schedule of Shares Issued for Business Combination [Line Items]
Stock conversion ratio		0.9886
Allied [Member]
Schedule of Shares Issued for Business Combination [Line Items]
Stock conversion ratio		0.4623
Series B Time Based Management Units [Member] \| Triton [Member]
Schedule of Shares Issued for Business Combination [Line Items]
Stock conversion ratio		0.4809
Stock Options [Member] \| Series A Time Based Management Units [Member] \| Triton [Member]
Schedule of Shares Issued for Business Combination [Line Items]
Stock conversion ratio		0.25
Restricted or Unrestricted Stock [Member] \| Series A Time Based Management Units [Member] \| Triton [Member]
Schedule of Shares Issued for Business Combination [Line Items]
Stock conversion ratio		0.171

Commitments and contingencies (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Commitments and Contingencies Disclosure [Abstract]
Rent expense	$ 16.1	$ 11.0	$ 11.6
Amount of letters of credit	$ 7.2

Stockholders' equity and employee benefit plans (Offer to Sell Shares) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		12 Months Ended
	Jun. 30, 2011	Aug. 31, 2010	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Apr. 17, 2012	Aug. 02, 2010
Sale of Stock [Line Items]
Number of shares called by warrants							0.5
Issuance of common stock			$ 499	$ 54,111	$ 2,750
Common stock share price (in dollars per share)						$ 20.00
Common Stock [Member]
Sale of Stock [Line Items]
Stock issued during the period (in shares)			30,821	6,513,073	357,901
Issuance of common stock				$ 65	$ 3
Majority shareholder [Member] \| Common Stock [Member]
Sale of Stock [Line Items]
Stock issued during the period (in shares)		6,507,000
Issuance of common stock	$ 50,000	$ 50,000
Common stock share price (in dollars per share)	$ 8.07
Majority shareholder [Member] \| Warrants [Member]
Sale of Stock [Line Items]
Stock issued during the period (in shares)	3,098,824	3,254,000
All others [Member] \| Common Stock [Member]
Sale of Stock [Line Items]
Stock issued during the period (in shares)		1,578,000
Issuance of common stock		$ 12,100
All others [Member] \| Warrants [Member]
Sale of Stock [Line Items]
Stock issued during the period (in shares)		789,000

Stockholders' equity and employee benefit plans (Warrants) (Details) - $ / shares	1 Months Ended
	Jun. 30, 2011	Aug. 31, 2010
Class of Warrant or Right [Line Items]
Exercise price monthly increase		0.50%
Expiration period after initial issuance		5 years
Expiration period after consummation of an initial public offering or merger		2 years 6 months
Warrants [Member] \| Warrants Issued in August 2010 [Member]
Class of Warrant or Right [Line Items]
Fair value assumptions, exercise price (in dollars per share)		$ 1.94
Fair value assumptions, expected life		5 years
Fair value assumptions, volatility		36.20%
Fair value assumptions, dividend yield		0.00%
Fair value assumptions, risk-free interest rate		2.05%
Warrants [Member] \| Warrants Issued in June 2011 [Member]
Class of Warrant or Right [Line Items]
Fair value assumptions, exercise price (in dollars per share)	$ 6.19
Fair value assumptions, expected life	4 years
Fair value assumptions, volatility	38.70%
Fair value assumptions, dividend yield	0.00%
Fair value assumptions, risk-free interest rate	0.99%

Stockholders' equity and employee benefit plans (Employee Benefit Plans) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Stockholders' Equity and Employee Benefit Plans Disclosure [Abstract]
Employee contribution benefit plan expense	$ 5.8	$ 4.3	$ 3.3

Stock based compensation (Narrative) (Details) - shares shares in Millions	Dec. 31, 2012	Aug. 31, 2010
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Number of shares authorized		18.5
Number of shares available for grant	10.2

Stock based compensation (Stock Option Activity) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Number of shares [Roll Forward]
Number of shares, beginning balance	7.7
Number of shares, granted	1.2
Number of shares, exercised	(1.6)
Number of shares, forfeited/expired	(0.2)
Number of shares, ending balance	7.1	7.7
Number of shares, options exercisable	3.1
Weighted average exercise price [Roll Forward]
Weighted average exercise price, beginning balance (in dollars per share)	$ 7.71
Weighted average exercise price, granted (in dollars per share)	19.91
Weighted average exercise price, exercised (in dollars per share)	6.85
Weighted average exercise price, forfeited/expired (in dollars per share)	9.61
Weighted average exercise price, ending balance (in dollars per share)	9.84	$ 7.71
Weighted average exercise price, options exercisable (in dollars per share)	$ 7.52
Remaining weighted average contractual life in years, outstanding	7 years 4 months 24 days	7 years 1 month 6 days
Remaining weighted average contractual life in years, exercisable	6 years 6 months
Intrinsic value, options outstanding	$ 105.6	$ 65.5
Intrinsic value, options exercisable	$ 53.5
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise period	10 years
Award vesting period	4 years

Stock based compensation (Fair Value Assumptions) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of options exercised (less than $0.1 million in 2011 and 2010)	$ 25.0	$ 0.1	$ 0.1
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value (in dollars per share)	$ 6.81	$ 5.08	$ 2.84
Expected life (in years)	6 years 3 months	6 years 3 months	6 years 3 months
Volatility	36.00%	34.00%	34.00%
Dividend yield	0.00%	0.00%	0.00%
Risk free interest rate, minimum	1.13%	1.19%	1.54%
Risk free interest rate, maximum	1.22%	2.64%	2.00%

Stock based compensation (Restricted Stock) (Details) - Restricted stock [Member] - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Restricted Stock Activity [Roll Forward]
Nonvested at beginning of year (in shares)	609,000
Granted (in shares)	869,800
Vested (in shares)	(209,000)
Forfeited (in shares)	(14,200)
Nonvested at the end of year (in shares)	1,255,600	609,000
Weighted average grant date fair value (in dollars per share)	$ 22.26	$ 13.73	$ 7.62
Fair value of shares vested	$ 4.4	$ 1.6	$ 1.5
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years

Stock based compensation (Compensation Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock based compensation expense	$ 8.2	$ 5.2	$ 5.1
Total compensation cost not yet recognized	$ 21.9
Total compensation cost not yet recognized, period for recognition	3 years

- Definition

Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.

+ References + Details

Related party transactions (Details) - Affiliated Entity [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Related Party Transaction [Line Items]
Purchases of inventory and services	$ 5.1	$ 4.8
Proceeds from sale of equipment and services	$ 1.1	$ 4.0

Business segments (Income Statement by Segment) (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012 USD ($)	Sep. 30, 2012 USD ($)	Jun. 30, 2012 USD ($)	Mar. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)	Sep. 30, 2011 USD ($)	Jun. 30, 2011 USD ($)	Mar. 31, 2011 USD ($)	Dec. 31, 2012 USD ($) segments	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments (in segments) \| segments									2
Revenue	$ 330,165	$ 347,767	$ 373,512	$ 363,489	$ 336,719	$ 330,906	$ 257,454	$ 203,052	$ 1,414,933	$ 1,128,131	$ 747,335
Operating income	$ 37,925	$ 62,904	$ 69,838	$ 70,213	$ 50,573	$ 60,927	$ 26,481	$ 22,632	240,880	160,613	73,277
Intangible asset impairment									1,161	0	0
Contingent consideration expense (benefit)									(4,568)	12,100	0
Transaction expenses									1,751	3,608	0
(Gain)/loss on sale of assets									(1,435)	(634)	(461)
Depreciation and amortization									51,804	40,775	33,216
Capital expenditures									49,685	41,163	19,624
Total segments [Member]
Segment Reporting Information [Line Items]
Operating income									237,789	175,687	72,816
Drilling & Subsea [Member]
Segment Reporting Information [Line Items]
Revenue									826,500	659,430	474,306
Operating income									161,160	117,927	53,534
Depreciation and amortization									37,737	30,853	25,777
Capital expenditures									31,118	22,774	13,188
Production & Infrastructure [Member]
Segment Reporting Information [Line Items]
Revenue									589,204	468,701	273,029
Operating income									97,257	77,997	22,613
Depreciation and amortization									13,163	9,845	7,439
Capital expenditures									13,644	13,621	6,436
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue									(771)	0	0
Corporate [Member]
Segment Reporting Information [Line Items]
Operating income									(20,628)	(20,237)	(3,331)
Depreciation and amortization									904	77	0
Capital expenditures									$ 4,923	$ 4,768	$ 0

Quarterly results of operations (unaudited) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Quarterly Financial Information Disclosure [Abstract]
Net sales	$ 330,165	$ 347,767	$ 373,512	$ 363,489	$ 336,719	$ 330,906	$ 257,454	$ 203,052	$ 1,414,933	$ 1,128,131	$ 747,335
Cost of sales	232,847	231,273	250,710	237,046	222,838	218,315	180,262	144,255	951,876	765,670	533,078
Gross profit	97,318	116,494	122,802	126,443	113,881	112,591	77,192	58,797	463,057	362,461	214,257
Operating expenses
Selling, general and administrative expenses									225,268	186,774	141,441
Contingent consideration expense (benefit)									(4,568)	12,100	0
Impairment of intangible assets									1,161	0	0
Transaction expenses									1,751	3,608	0
(Gain) loss on sale of assets									(1,435)	(634)	(461)
Total operating expenses	59,393	53,590	52,964	56,230	63,308	51,664	50,711	36,165	222,177	201,848	140,980
Operating income	37,925	62,904	69,838	70,213	50,573	60,927	26,481	22,632	240,880	160,613	73,277
Other expense (income)
Interest expense									16,372	19,532	18,189
Other, net									1,713	378	(2,308)
Total other expense	3,954	4,356	3,958	5,817	4,926	6,544	5,136	3,304	18,085	19,910	28,931
Income before income taxes	33,971	58,548	65,880	64,396	45,647	54,383	21,345	19,328	222,795	140,703	44,346
Provision for income tax expense	10,033	17,605	21,742	21,885	13,934	18,793	7,453	6,930	71,265	47,110	20,297
Net income	23,938	40,943	44,138	42,511	31,713	35,590	13,892	12,398	151,530	93,593	24,049
Less: Income attributable to noncontrolling interest	8	20	17	29	(16)	80	158	29	74	251	111
Net income attributable to common stockholders	$ 23,930	$ 40,923	$ 44,121	$ 42,482	$ 31,729	$ 35,510	$ 13,734	$ 12,369	$ 151,456	$ 93,342	$ 23,938
Weighted average shares outstanding
Basic (in shares)	86,077	84,993	82,495	67,960	67,807	67,655	59,471	58,322	80,111	63,270	53,798
Diluted (in shares)	93,355	92,339	89,794	74,741	74,033	73,635	62,660	61,247	86,937	67,488	54,316
Earnings per share
Basic (in dollars per share)	$ 0.28	$ 0.48	$ 0.53	$ 0.63	$ 0.47	$ 0.52	$ 0.23	$ 0.21	$ 1.89	$ 1.48	$ 0.44
Diluted (in dollars per share)	$ 0.26	$ 0.44	$ 0.49	$ 0.57	$ 0.43	$ 0.48	$ 0.22	$ 0.20	$ 1.74	$ 1.38	$ 0.44
Other comprehensive income, net of tax:
Change in foreign currency translation, net of tax of $0									$ 15,887	$ (5,094)	$ (6,313)
Change in foreign currency translation, tax	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	0	0	0
Gain on derivative instruments, net of tax of $0, $768, and $732									0	1,426	1,360
Gain on derivative instruments, tax	$ 439	$ 0	$ 264	$ 0	$ 439	$ 0	$ 264	$ 0	0	768	732
Comprehensive income									167,417	89,925	19,096
Less: comprehensive (income) loss attributable to noncontrolling interests									(44)	(85)	(113)
Comprehensive income attributable to common stockholders									$ 167,373	$ 89,840	$ 18,983

Business segments (Assets by Segment) (Details) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Segment Reporting Information [Line Items]
Assets	$ 1,892,980	$ 1,607,315
Drilling & Subsea [Member]
Segment Reporting Information [Line Items]
Assets	1,413,944	1,193,128
Production & Infrastructure [Member]
Segment Reporting Information [Line Items]
Assets	435,496	388,570
Corporate [Member]
Segment Reporting Information [Line Items]
Assets	$ 43,540	$ 25,617

Business segments (Revenue by Shipping Location) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 330,165	$ 347,767	$ 373,512	$ 363,489	$ 336,719	$ 330,906	$ 257,454	$ 203,052	$ 1,414,933	$ 1,128,131	$ 747,335
Sales [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue									$ 1,414,933	$ 1,128,131	$ 747,335
Revenue, Percentage									100.00%	100.00%	100.00%
Sales [Member] \| United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue									$ 894,969	$ 707,092	$ 408,615
Revenue, Percentage									63.30%	62.70%	54.70%
Sales [Member] \| Europe & Africa [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue									$ 196,841	$ 162,694	$ 119,204
Revenue, Percentage									13.90%	14.40%	16.00%
Sales [Member] \| Canada [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue									$ 114,197	$ 102,916	$ 69,624
Revenue, Percentage									8.10%	9.10%	9.30%
Sales [Member] \| Asia-Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue									$ 100,938	$ 89,323	$ 105,419
Revenue, Percentage									7.10%	7.90%	14.10%
Sales [Member] \| Latin America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue									$ 58,420	$ 32,788	$ 26,228
Revenue, Percentage									4.10%	2.90%	3.50%
Sales [Member] \| Middle East [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue									$ 49,568	$ 33,318	$ 18,245
Revenue, Percentage									3.50%	3.00%	2.40%

Business segments (Long-lived Assets by Geographic Location) (Details) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 1,118,103	$ 988,729
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	849,470	726,098
Europe & Africa [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	224,093	219,195
Canada [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	31,956	30,582
Asia-Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	7,512	7,495
Middle East [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	3,159	3,199
Latin America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 1,913	$ 2,160

Business segments (Revenue by Product Lines) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Revenue from External Customer [Line Items]
Revenue	$ 330,165	$ 347,767	$ 373,512	$ 363,489	$ 336,719	$ 330,906	$ 257,454	$ 203,052	$ 1,414,933	$ 1,128,131	$ 747,335
Sales [Member]
Revenue from External Customer [Line Items]
Revenue									$ 1,414,933	$ 1,128,131	$ 747,335
Revenue, Percentage									100.00%	100.00%	100.00%
Sales [Member] \| Drilling Technologies [Member]
Revenue from External Customer [Line Items]
Revenue									$ 434,240	$ 372,046	$ 277,573
Revenue, Percentage									30.70%	33.00%	37.20%
Sales [Member] \| Subsea Technologies [Member]
Revenue from External Customer [Line Items]
Revenue									$ 250,554	$ 220,944	$ 196,733
Revenue, Percentage									17.70%	19.60%	26.30%
Sales [Member] \| Downhole Technologies [Member]
Revenue from External Customer [Line Items]
Revenue									$ 141,706	$ 66,440	$ 0
Revenue, Percentage									10.00%	5.90%	0.00%
Sales [Member] \| Production Equipment [Member]
Revenue from External Customer [Line Items]
Revenue									$ 227,286	$ 178,110	$ 125,557
Revenue, Percentage									16.10%	15.80%	16.80%
Sales [Member] \| Valve Solutions [Member]
Revenue from External Customer [Line Items]
Revenue									$ 210,608	$ 173,836	$ 147,472
Revenue, Percentage									14.90%	15.40%	19.70%
Sales [Member] \| Flow Equipment [Member]
Revenue from External Customer [Line Items]
Revenue									$ 151,310	$ 116,755	$ 0
Revenue, Percentage									10.70%	10.30%	0.00%
Sales [Member] \| Eliminations [Member]
Revenue from External Customer [Line Items]
Revenue									$ (771)	$ 0	$ 0
Revenue, Percentage									(0.10%)	0.00%	0.00%