Quarterly report pursuant to Section 13 or 15(d)

Acquisitions ITS - Preliminary Allocation of Consideration Transferred (Details)

Acquisitions ITS - Preliminary Allocation of Consideration Transferred (Details) (USD $)
9 Months Ended 2 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Jun. 30, 2013
ITS [Member]
Sep. 30, 2013
ITS [Member]
Apr. 22, 2013
ITS [Member]
Business Acquisition [Line Items]          
Cash and cash equivalents         $ 7,009,000
Accounts and notes receivable, net         48,795,000 [1]
Other current assets         1,803,000
Accounts payable and accrued liabilities         (39,156,000)
Accrued income taxes         (1,251,000)
Working capital excluding rig materials and supplies         17,200,000
Rig materials and supplies         11,514,000
Property, plant and equipment, net         70,339,000 [2]
Investment in joint venture         4,134,000
Other noncurrent assets         2,818,000
Total tangible assets         106,005,000
Deferred income tax assets - current         222,000
Deferred income tax assets - noncurrent         14,153,000 [3]
Intangible Assets          
Trade name, developed technology, and customer relationship         10,000,000 [4]
Indefinite-lived intangible assets         200,000 [3],[4]
Total assets acquired         130,580,000
Other long-term liabilities         (211,000)
Long-term deferred tax liability         (2,661,000)
Net assets acquired         127,708,000
Less: Noncontrolling interest         (2,708,000) [5]
Total consideration transferred         125,000,000
Adjustment to record property, plant and equipment to fair value     43,700,000    
Increase in deferred income tax asset 12,872,000 8,403,000 7,700,000    
Intangible assets acquired         10,000,000 [3]
Weighted average useful life     3 years 4 months 24 days 3 years  
Impairment of non-controlling interest     1,000,000    
Accounts and notes receivable, gross         $ 54,700,000
[1] Gross contractual amounts receivable totaled $54.7 million as of the acquisition date.
[2] We recorded an adjustment of $43.7 million to reduce the historical carrying value of the acquired property, plant and equipment to its estimated fair value.
[3] In connection with the ITS Acquisition, we recorded a $7.7 million adjustment to increase deferred income tax assets primarily related to the differences between acquisition date estimated fair value and tax basis of acquired property, plant and equipment.
[4] We recorded $10.0 million and $0.2 million to reflect the estimated fair values of definite and indefinite lived intangible assets, respectively, recognized in connection with the ITS Acquisition. Our depreciation and amortization expense will reflect this valuation adjustment as the definite lived intangible assets are amortized in future periods. Definite lived intangible assets recorded in connection with the ITS Acquisition, which primarily relate to trade names, customer relationships, and developed technology will be amortized over a weighted average period of approximately 3.4 years.
[5] We recorded an adjustment of $1.0 million to write-down the noncontrolling interest to its estimated fair value. 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.