Quarterly report pursuant to Section 13 or 15(d)

Acquisitions ITS - Preliminary Allocation of Consideration Transferred (Details)

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Acquisitions ITS - Preliminary Allocation of Consideration Transferred (Details) (USD $)
 9 Months Ended 11 Months Ended 12 Months Ended 0 Months Ended 3 Months Ended 9 Months Ended 11 Months Ended 12 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Mar. 31, 2014
Dec. 31, 2013
Apr. 22, 2013
ITS [Member]
Sep. 30, 2014
ITS [Member]
Sep. 30, 2013
ITS [Member]
Sep. 30, 2014
ITS [Member]
Mar. 31, 2014
ITS [Member]
Dec. 31, 2013
ITS [Member]
Apr. 22, 2013
ITS [Member]
Maximum [Member]
Business Acquisition [Line Items]                      
Cash and cash equivalents         $ 7,009,000            
Accounts and notes receivable, net         48,184,000 [1]            
Other current assets         1,803,000            
Accounts payable and accrued liabilities (2)         (35,156,000) [2]            
Accrued income taxes         (1,251,000)            
Working capital excluding rig materials and supplies         20,589,000            
Rig materials and supplies         11,514,000            
Property, plant and equipment, net (3)         72,935,000 [3]            
Investment in joint venture         4,134,000            
Other noncurrent assets         2,818,000            
Total tangible assets         111,990,000            
Deferred income tax assets - current (4)         222,000 [4]            
Deferred income tax assets - noncurrent (4)         11,640,000 [4]            
Intangible Assets                      
Indefinite lived intangible assets acquired         8,500,000 [5]         0 [3]  
Total assets acquired         132,352,000            
Other long-term liabilities         (211,000)            
Long-term deferred tax liability         (2,796,000)            
Net assets acquired         129,345,000            
Less: Noncontrolling interest         (4,345,000) [6]            
Total consideration transferred         125,000,000            
Accounts and notes receivable, gross before adjustments         54,700,000            
Accounts and notes receivable, adjustments         1,200,000            
Accounts and notes receivable, gross         55,900,000            
Allowance for doubtful accounts         5,900,000            
Reserve against gross accounts receivable         1,900,000            
Accounts payable and accrued liabilities 160,711,000     174,886,000 39,200,000            
Estimated impairment for property, plant and equipment                   40,200,000  
Adjustment to record property, plant and equipment to fair value             4,000,000   2,600,000    
Increase in deferred income tax asset 73,000 12,872,000     14,400,000     11,900,000      
Income Tax Expense (Benefit), Adjustments, Amount     400,000 (2,900,000)              
Estimated fair values of definite lived intangible assets         10,000,000            
Estimated fair values of indefinite lived intangible assets         200,000            
Estimated fair values of definite lived intangible assets, adjustments         1,500,000 [3]            
Estimated fair values of indefinite lived intangible assets, adjustments         200,000 [3]            
Definite lived intangible assets acquired         8,500,000 [3]            
Indefinite lived intangible assets acquired         8,500,000 [5]         0 [3]  
Weighted average useful life               3 years 3 years 4 months 24 days    
Ownership percentage 50.00%                   100.00%
Noncontrolling Interest, Fair Value Disclosure         2,700,000     4,300,000      
Increase in acquisition date fair value           $ 1,600,000          
[1] $54.7 million of gross contractual accounts receivable. During the 2013 fourth quarter, adjustments of $1.2 million were recorded as of December 31, 2013 resulting in final fair value of gross accounts receivable of $55.9 million. These adjustments were recorded to reflect recognition of receivables for revenue earned prior to the acquisition date. Additionally, the initial allocation included $5.9 million of allowance for doubtful accounts. During the 2014 first quarter, we recorded an additional $1.9 million allowance to reserve against receivables that existed as of the acquisition date and were deemed to be uncollectible based on new information obtained during the measurement period that existed at the time of acquisition.
[2] (2) Our provisional allocation included $39.2 million of accounts payable and accrued liabilities. During the 2013 third quarter we recorded a reclassification of $4.0 million to reclassify reserves to property, plant, and equipment.
[3] (3) Management determined that the fair value of the net assets acquired less noncontrolling interest equaled consideration paid; therefore, no goodwill was recorded. Our provisional allocation included an adjustment of $40.2 million to reduce the historical carrying value of the acquired property, plant and equipment to its estimated fair value at the date of acquisition. The measurement period adjustments to receivables, deferred income taxes, intangibles, and noncontrolling interests directly impacted the determination of the final fair value of the acquired property, plant and equipment, resulting in measurement period adjustments totaling $2.6 million
[4] (4) Our provisional allocation included $14.4 million of deferred tax assets. During the measurement period, adjustments of ($2.9) million and $0.4 million were recorded as of December 31, 2013 and March 31, 2014, respectively, resulting in final fair value of deferred tax assets of $11.9 million. Adjustments to deferred income tax assets primarily related to the differences between the final acquisition date fair value and tax basis of acquired property, plant and equipment.
[5] $10.0 million and $0.2 million to reflect the estimated fair values of definite- and indefinite-lived intangible assets, respectively, for the ITS Acquisition. During the 2013 fourth quarter we recorded adjustments of $1.5 million and $0.2 million to reduce the value of the definite- and indefinite-lived intangible assets down to $8.5 million and zero respectively. Our depreciation and amortization expense for the year ended December 31, 2013 reflects this valuation adjustment. Definite-lived intangible assets recorded in connection with the ITS Acquisition, which primarily relate to trade names, customer relationships, and developed technology are being amortized over a weighted average period of approximately 3.4 years.
[6] (6) Our provisional allocation included noncontrolling interest of $2.7 million. The estimated fair value of the noncontrolling interest was calculated as a percentage of the net assets acquired related to certain subsidiaries in which ITS holds less than a 100 percent controlling interest. The fair value of the net assets of these subsidiaries was primarily based on the income approach valuation model. During the 2014 first quarter, we obtained new information about the acquired subsidiaries that existed at the date of acquisition which resulted in an increase in the acquisition date fair value of $1.6 million, resulting in a final fair value of the noncontrolling interest of $4.3 million.