0000071829-19-000117 | 10-Q | XBRL Viewer

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Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Inventory [Line Items]
Raw materials	$ 151,079	$ 150,222
Total inventory	193,464	196,896
Fluids systems
Inventory [Line Items]
Raw materials	144,699	148,737
Mats and integrated services
Inventory [Line Items]
Raw materials	6,380	1,485
Finished goods	7,870	8,586
Blended fluids systems components
Inventory [Line Items]
Finished goods	$ 34,515	$ 38,088

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 49,035	$ 56,118
Receivables, net	249,197	254,394
Inventories	193,464	196,896
Prepaid expenses and other current assets	23,671	15,904
Total current assets	515,367	523,312
Property, plant and equipment, net	316,597	316,293
Operating lease assets	27,365
Goodwill	43,889	43,832
Other intangible assets, net	23,285	25,160
Deferred tax assets	4,632	4,516
Other assets	3,363	2,741
Total assets	934,498	915,854
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current debt	5,657	2,522
Accounts payable	96,359	90,607
Accrued liabilities	42,205	48,797
Total current liabilities	144,221	141,926
Long-term debt, less current portion	156,655	159,225
Noncurrent operating lease liabilities	21,850
Deferred tax liabilities	36,936	37,486
Other noncurrent liabilities	8,707	7,536
Total liabilities	368,369	346,173
Commitments and contingencies (Note 9)
Common stock, $0.01 par value (200,000,000 shares authorized and 106,696,719 and 106,362,991 shares issued, respectively)	1,067	1,064
Paid-in capital	618,626	617,276
Accumulated other comprehensive loss	(67,873)	(67,673)
Retained earnings	153,395	148,802
Treasury stock, at cost (16,858,005 and 15,530,952 shares, respectively)	(139,086)	(129,788)
Total stockholders’ equity	566,129	569,681
Total liabilities and stockholders’ equity	$ 934,498	$ 915,854

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 4,306	$ 10,846	$ 5,588	$ 18,068
Foreign currency translation adjustments (net of tax benefit (expense) of $(179), $1,486, $(109), $987)	1,721	(9,212)	(200)	(9,878)
Comprehensive income	$ 6,027	$ 1,634	$ 5,388	$ 8,190

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income	$ 5,588	$ 18,068
Adjustments to reconcile net income to net cash provided by operations:
Depreciation and amortization	23,070	22,755
Stock-based compensation expense	6,874	4,848
Provision for deferred income taxes	(1,514)	243
Net provision for doubtful accounts	789	1,229
Gain on sale of assets	(5,128)	(371)
Amortization of original issue discount and debt issuance costs	2,973	2,643
Change in assets and liabilities:
(Increase) decrease in receivables	6,583	(1,185)
(Increase) decrease in inventories	3,868	(21,459)
Increase in other assets	(5,058)	(3,417)
Increase in accounts payable	6,207	6,659
Decrease in accrued liabilities and other	(10,012)	(9,326)
Net cash provided by operating activities	34,240	20,687
Cash flows from investing activities:
Capital expenditures	(23,866)	(24,458)
Proceeds from sale of property, plant and equipment	5,708	920
Refund of proceeds from sale of a business	0	(13,974)
Business acquisitions, net of cash acquired	0	(249)
Net cash used in investing activities	(18,158)	(37,761)
Cash flows from financing activities:
Borrowings on lines of credit	135,952	203,716
Payments on lines of credit	(141,317)	(171,796)
Debt issuance costs	(917)	(11)
Proceeds from employee stock plans	1,090	3,700
Purchases of treasury stock	(17,365)	(3,074)
Other financing activities	2,758	2,515
Net cash provided by (used in) financing activities	(19,799)	35,050
Effect of exchange rate changes on cash	(125)	(2,926)
Net increase (decrease) in cash, cash equivalents, and restricted cash	(3,842)	15,050
Cash, cash equivalents, and restricted cash at beginning of period	64,266	65,460
Cash, cash equivalents, and restricted cash at end of period	$ 60,424	$ 80,510

Financing Arrangements and Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Financing Arrangements and Fair Value of Financial Instruments

Financing arrangements consisted of the following:



	June 30, 2019									December 31, 2018
(In thousands)	Principal Amount			Unamortized Discount and Debt Issuance Costs			Total Debt			Principal Amount			Unamortized Discount and Debt Issuance Costs			Total Debt
2021 Convertible Notes	$	100,000		$	(15,097	)	$	84,903		$	100,000		$	(17,752	)	$	82,248
ABL Facility	70,800			—			70,800			76,300			—			76,300
Other debt	6,609			—			6,609			3,199			—			3,199
Total debt	177,409			(15,097		)	162,312			179,499			(17,752		)	161,747
Less: Current portion	(5,657		)	—			(5,657		)	(2,522		)	—			(2,522		)
Long-term debt	$	171,752		$	(15,097	)	$	156,655		$	176,977		$	(17,752	)	$	159,225

2021 Convertible Notes. In December 2016, we issued $100.0 million of unsecured convertible senior notes (“2021 Convertible Notes”) that mature on December 1, 2021, unless earlier converted by the holders pursuant to the terms of the notes. The notes bear interest at a rate of 4.0% per year, payable semiannually in arrears on June 1 and December 1 of each year.

Holders may convert the notes at their option at any time prior to the close of business on the business day immediately preceding June 1, 2021, only under the following circumstances:

•

during any calendar quarter commencing after the calendar quarter ending on March 31, 2017 (and only during such calendar quarter), if the last reported sale price of our common stock for at least 20 trading days (regardless of whether consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price of the notes in effect on each applicable trading day;


•	during the five business day period after any five consecutive trading day period in which the trading price per $1,000 principal amount of notes for each trading day was less than 98% of the last reported sale price of our common stock on such date multiplied by the conversion rate on each such trading day; or


•	upon the occurrence of specified corporate events, as described in the indenture governing the notes, such as a consolidation, merger, or share exchange.

On or after June 1, 2021 until the close of business on the business day immediately preceding the maturity date, holders may convert their notes at any time, regardless of whether any of the foregoing conditions have been satisfied. As of July 29, 2019, the notes were not convertible.

The notes are convertible into, at our election, cash, shares of common stock, or a combination of both, subject to satisfaction of specified conditions and during specified periods, as described above. If converted, we currently intend to pay cash for the principal amount of the notes converted. The conversion rate is 107.1381 shares of our common stock per $1,000 principal amount of notes (equivalent to an initial conversion price of $9.33 per share of common stock), subject to adjustment in certain circumstances. We may not redeem the notes prior to their maturity date.

In accordance with accounting guidance for convertible debt with a cash conversion option, we separately accounted for the debt and equity components of the notes in a manner that reflected our estimated nonconvertible debt borrowing rate. As of June 30, 2019, the carrying amount of the debt component was $84.9 million, which is net of the unamortized debt discount and issuance costs of $13.5 million and $1.6 million, respectively. Including the impact of the debt discount and related deferred debt issuance costs, the effective interest rate on the notes is approximately 11.3%.

Asset-Based Loan Facility. In May 2016, we entered into an asset-based revolving credit agreement which replaced our previous credit agreement. In October 2017, we entered into an Amended and Restated Credit Agreement and in March 2019, we entered into a First Amendment to Amended and Restated Credit Agreement (as amended, the “ABL Facility”). The March 2019 amendment increased the amount available for borrowings, reduced applicable borrowing rates, and extended the term. The ABL Facility provides financing of up to $200.0 million available for borrowings (inclusive of letters of credit) and can be increased up to a maximum capacity of $275.0 million, subject to certain conditions. As of June 30, 2019, our total availability under the ABL Facility was $165.7 million, of which $70.8 million was drawn, resulting in remaining availability of $94.9 million.

The ABL Facility terminates in March 2024; however, the ABL Facility has a springing maturity date that will accelerate the maturity of the ABL Facility to September 1, 2021 if, prior to such date, the 2021 Convertible Notes have not been repurchased, redeemed, refinanced, exchanged or otherwise satisfied in full or we have not escrowed an amount of funds, that together with the amount that we establish as a reserve against our borrowing capacity, is sufficient for the future settlement of the 2021 Convertible Notes at their maturity. The ABL Facility requires compliance with a minimum fixed charge coverage ratio and minimum unused availability of $25.0 million to utilize borrowings or assignment of availability under the ABL Facility towards funding the repayment of the 2021 Convertible Notes.

Borrowing availability under the ABL Facility is calculated based on eligible accounts receivable, inventory, and, subject to satisfaction of certain financial covenants as described below, composite mats included in the rental fleet, net of reserves and limits on such assets included in the borrowing base calculation. To the extent pledged by us, the borrowing base calculation also includes the amount of eligible pledged cash. The lender may establish such reserves, in part based on appraisals of the asset base, and other limits at its discretion which could reduce the amounts otherwise available under the ABL Facility. Availability associated with eligible rental mats will also be subject to maintaining a minimum consolidated fixed charge coverage ratio and a minimum level of operating income for the Mats and Integrated Services segment.

Under the terms of the ABL Facility, we may elect to borrow at a variable interest rate plus an applicable margin based on either, (1) LIBOR subject to a floor of zero or (2) a base rate equal to the highest of: (a) the federal funds rate plus 50 basis points, (b) the prime rate of Bank of America, N.A. and (c) LIBOR, subject to a floor of zero, plus 100 basis points, plus, in each case, an applicable margin per annum. The applicable margin ranges from 150 to 200 basis points for LIBOR borrowings, and 50

to 100 basis points for base rate borrowings, based on the consolidated fixed charge coverage ratio as defined in the ABL Facility. As of June 30, 2019, the applicable margin for borrowings under our ABL Facility was 150 basis points with respect to LIBOR borrowings and 50 basis points with respect to base rate borrowings. The weighted average interest rate for the ABL Facility was 4.3% at June 30, 2019. In addition, we are required to pay a commitment fee on the unused portion of the ABL Facility ranging from 25 to 37.5 basis points, based on the level of outstanding borrowings, as defined in the ABL Facility. As of June 30, 2019, the applicable commitment fee was 37.5 basis points.

The ABL Facility is a senior secured obligation, secured by first liens on all of our U.S. tangible and intangible assets, and a portion of the capital stock of our non-U.S. subsidiaries has also been pledged as collateral. The ABL Facility contains customary operating covenants and certain restrictions including, among other things, the incurrence of additional debt, liens, dividends, asset sales, investments, mergers, acquisitions, affiliate transactions, stock repurchases and other restricted payments. The ABL Facility also requires compliance with a fixed charge coverage ratio if availability under the ABL Facility falls below $22.5 million. In addition, the ABL Facility contains customary events of default, including, without limitation, a failure to make payments under the facility, acceleration of more than $25.0 million of other indebtedness, certain bankruptcy events, and certain change of control events.

Other Debt. Our foreign subsidiaries in Italy, India, and Canada maintain local credit arrangements consisting primarily of lines of credit which are renewed on an annual basis. We utilize local financing arrangements in our foreign operations in order to provide short-term local liquidity needs. We had $1.3 million and $1.1 million outstanding under these arrangements at June 30, 2019 and December 31, 2018, respectively.

At June 30, 2019, we had letters of credit issued and outstanding of $8.9 million that are collateralized by $9.4 million in restricted cash. Additionally, our foreign operations had $39.3 million outstanding in letters of credit and other guarantees, primarily issued under a credit arrangement in Italy as well as certain letters of credit that are collateralized by $2.0 million in restricted cash.

Our financial instruments include cash and cash equivalents, receivables, payables, and debt. We believe the carrying values of these instruments, with the exception of our 2021 Convertible Notes, approximated their fair values at June 30, 2019 and December 31, 2018. The estimated fair value of our 2021 Convertible Notes was $107.0 million at June 30, 2019 and $120.9 million at December 31, 2018, based on quoted market prices at these respective dates.

Financing Arrangements and Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of financing arrangements

Financing arrangements consisted of the following:



	June 30, 2019									December 31, 2018
(In thousands)	Principal Amount			Unamortized Discount and Debt Issuance Costs			Total Debt			Principal Amount			Unamortized Discount and Debt Issuance Costs			Total Debt
2021 Convertible Notes	$	100,000		$	(15,097	)	$	84,903		$	100,000		$	(17,752	)	$	82,248
ABL Facility	70,800			—			70,800			76,300			—			76,300
Other debt	6,609			—			6,609			3,199			—			3,199
Total debt	177,409			(15,097		)	162,312			179,499			(17,752		)	161,747
Less: Current portion	(5,657		)	—			(5,657		)	(2,522		)	—			(2,522		)
Long-term debt	$	171,752		$	(15,097	)	$	156,655		$	176,977		$	(17,752	)	$	159,225

Supplemental Disclosures to the Statements of Cash Flows - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 49,035	$ 56,118
Restricted cash (included in other current assets)	11,389	8,148
Cash, cash equivalents, and restricted cash	$ 60,424	$ 64,266	$ 80,510	$ 65,460

Inventories (Tables)

6 Months Ended

Jun. 30, 2019

Inventory Disclosure [Abstract]

Schedule of inventories

Inventories consisted of the following:



(In thousands)	June 30, 2019		December 31, 2018
Raw materials:
Fluids systems	$	144,699	$	148,737
Mats and integrated services	6,380		1,485
Total raw materials	151,079		150,222
Blended fluids systems components	34,515		38,088
Finished goods - mats	7,870		8,586
Total inventories	$	193,464	$	196,896

Segment Data - Disaggregated Revenues, Geographic (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 216,412	$ 236,262	$ 427,885	$ 463,555
Operating segments \| Fluids systems
Disaggregation of Revenue [Line Items]
Revenues	172,544	179,738	333,197	357,117
Operating segments \| Fluids systems \| North America
Disaggregation of Revenue [Line Items]
Revenues	122,142	115,618	238,467	231,159
Operating segments \| Fluids systems \| United States
Disaggregation of Revenue [Line Items]
Revenues	117,154	104,333	220,213	196,802
Operating segments \| Fluids systems \| Canada
Disaggregation of Revenue [Line Items]
Revenues	4,988	11,285	18,254	34,357
Operating segments \| Fluids systems \| Total International
Disaggregation of Revenue [Line Items]
Revenues	50,402	64,120	94,730	125,958
Operating segments \| Fluids systems \| EMEA
Disaggregation of Revenue [Line Items]
Revenues	44,455	49,546	82,220	100,981
Operating segments \| Fluids systems \| Asia Pacific
Disaggregation of Revenue [Line Items]
Revenues	4,539	5,671	9,663	8,160
Operating segments \| Fluids systems \| Latin America
Disaggregation of Revenue [Line Items]
Revenues	$ 1,408	$ 8,903	$ 2,847	$ 16,817

Supplemental Disclosures to the Statements of Cash Flows

6 Months Ended

Jun. 30, 2019

Supplemental Cash Flow Elements [Abstract]

Supplemental Disclosures to the Statements of Cash Flows

Supplemental disclosures to the statements of cash flows are presented below:



	First Half
(In thousands)	2019		2018
Cash paid for:
Income taxes (net of refunds)	$	5,927	$	7,175
Interest	$	4,705	$	4,245

Cash, cash equivalents, and restricted cash in the consolidated statements of cash flows consisted of the following:



(In thousands)	June 30, 2019		December 31, 2018
Cash and cash equivalents	$	49,035	$	56,118
Restricted cash (included in other current assets)	11,389		8,148
Cash, cash equivalents, and restricted cash	$	60,424	$	64,266

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (6,764,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (6,764,000)

Segment Data Segment Data - Disaggregated Revenues, Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 216,412	$ 236,262	$ 427,885	$ 463,555
Operating segments \| Mats and integrated services
Disaggregation of Revenue [Line Items]
Revenues	43,868	56,524	94,688	106,438
Operating segments \| Mats and integrated services \| Service revenues
Disaggregation of Revenue [Line Items]
Revenues	19,909	24,447	41,059	45,751
Operating segments \| Mats and integrated services \| Rental revenues
Disaggregation of Revenue [Line Items]
Revenues	17,675	20,938	39,255	39,750
Operating segments \| Mats and integrated services \| Product sales revenues
Disaggregation of Revenue [Line Items]
Revenues	$ 6,284	$ 11,139	$ 14,374	$ 20,937

Receivables

6 Months Ended

Jun. 30, 2019

Receivables [Abstract]

Receivables

Receivables consisted of the following:



(In thousands)	June 30, 2019			December 31, 2018
Trade receivables:
Gross trade receivables	$	242,009		$	248,176
Allowance for doubtful accounts	(9,473		)	(10,034		)
Net trade receivables	232,536			238,142
Income tax receivables	9,620			9,027
Other receivables	7,041			7,225
Total receivables, net	$	249,197		$	254,394

Other receivables included $6.0 million and $6.3 million for value added, goods and service taxes related to foreign jurisdictions as of June 30, 2019 and December 31, 2018, respectively.

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Schedule of net income per share

The following table presents the reconciliation of the numerator and denominator for calculating net income per share:



	Second Quarter				First Half
(In thousands, except per share data)	2019		2018		2019		2018
Numerator
Net income - basic and diluted	$	4,306	$	10,846	$	5,588	$	18,068

Denominator
Weighted average common shares outstanding - basic	89,806		89,703		89,958		89,400
Dilutive effect of stock options and restricted stock awards	1,900		2,823		2,082		2,730
Dilutive effect of 2021 Convertible Notes	—		1,265		—		636
Weighted average common shares outstanding - diluted	91,706		93,791		92,040		92,766

Net income per common share
Basic	$	0.05	$	0.12	$	0.06	$	0.20
Diluted	$	0.05	$	0.12	$	0.06	$	0.19

Schedule of weighted-average potential shares excluded from diluted net income per share

We excluded the following weighted-average potential shares from the calculations of diluted net income per share during the applicable periods because their inclusion would have been anti-dilutive:



	Second Quarter		First Half
(In thousands)	2019	2018	2019	2018
Stock options and restricted stock awards	1,707	1,173	1,710	1,412

Inventories

6 Months Ended

Jun. 30, 2019

Inventory Disclosure [Abstract]

Inventories

Inventories consisted of the following:



(In thousands)	June 30, 2019		December 31, 2018
Raw materials:
Fluids systems	$	144,699	$	148,737
Mats and integrated services	6,380		1,485
Total raw materials	151,079		150,222
Blended fluids systems components	34,515		38,088
Finished goods - mats	7,870		8,586
Total inventories	$	193,464	$	196,896

Raw materials for the Fluids Systems segment consists primarily of barite, chemicals, and other additives that are consumed in the production of our fluids systems. Raw materials for the Mats and Integrated Services segment consists primarily of resins, chemicals, and other materials used to manufacture composite mats, as well as materials that are consumed in providing spill containment and other services to our customers. Our blended fluids systems components consist of base fluid systems that have been either mixed internally at our blending facilities or purchased from third-party vendors. These base fluid systems require raw materials to be added, as needed to meet specified customer requirements.

Leases - Balance Sheet Classification (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Leases [Abstract]
Operating lease assets	$ 27,365
Finance lease assets	1,241
Total lease assets	28,606
Current operating lease liabilities	6,495
Current finance lease liabilities	274
Noncurrent operating lease liabilities	21,850
Noncurrent finance lease liabilities	952
Lease, Liability	$ 29,571

Receivables - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other receivables	$ 7,041	$ 7,225
Foreign
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other receivables	$ 6,000	$ 6,300

Leases - Lease Term and Discount Rate (Details)	Jun. 30, 2019
Leases [Abstract]
Weighted-average remaining lease term, operating leases	6 years 6 months
Weighted-average remaining lease term, finance leases	4 years 2 months 12 days
Weighted-average discount rate, operating leases	4.30%
Weighted-average discount rate, finance leases	4.50%

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2019	Jul. 29, 2019
Cover page.
Entity Registrant Name	NEWPARK RESOURCES INC
Entity Central Index Key	0000071829
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	001-02960
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	72-1123385
Entity Address, Address Line One	9320 Lakeside Boulevard,
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	The Woodlands,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77381
City Area Code	281
Local Phone Number	362-6800
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	NR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Smaller Reporting Company	false
Emerging Growth	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		90,062,087

Repurchase Program (Details) - USD ($)	3 Months Ended	6 Months Ended
Repurchase Program (Details) - USD ($)	Jun. 30, 2019	Jun. 30, 2019	Jun. 30, 2018	Nov. 30, 2018
Equity, Class of Treasury Stock [Line Items]
Shares repurchased, value	$ 10,524,000	$ 15,537,000
Share repurchase program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount				$ 100,000,000
Shares repurchased (in shares)		2,047,014	0
Shares repurchased, value		$ 15,500,000
Stock repurchase program, remaining authorized repurchase amount	$ 84,500,000	$ 84,500,000

Basis of Presentation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Change in Accounting Estimates	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. For further information, see Note 1 in our Annual Report on Form 10-K for the year ended December 31, 2018.
New Accounting Pronouncements	Standards Adopted in 2019 Leases. In February 2016, the Financial Accounting Standards Board (“FASB”) amended the guidance related to the accounting for leases. The new guidance provides principles for the recognition, measurement, presentation, and disclosure of leases and requires lessees to recognize both assets and liabilities arising from finance and operating leases. The classification as either a finance or operating lease will determine whether lease expense is recognized based on an effective interest method basis or on a straight-line basis over the term of the lease, respectively. We adopted this new guidance as of January 1, 2019 using the modified retrospective transition method, and recorded approximately $28 million of operating lease assets and liabilities as of January 1, 2019, with no cumulative effect adjustment to retained earnings. The new guidance had no impact on our consolidated statements of operations or cash flows. Results for reporting periods beginning after December 31, 2018 are presented under the new guidance, while prior period amounts were not adjusted and continue to be reported in accordance with previous guidance. As permitted under the transition guidance within the new standard, we elected to carry forward the historical lease identification and classification for existing leases upon adoption. We have also made an accounting policy election to not recognize leases with an initial term of 12 months or less in the consolidated balance sheets. See Note 8 for additional required disclosures. Standards Not Yet Adopted Credit Losses. In June 2016, the FASB issued new guidance which requires financial assets measured at amortized cost basis, including trade receivables, to be presented at the net amount expected to be collected. The new guidance requires an entity to estimate its lifetime “expected credit loss” for such assets at inception which will generally result in the earlier recognition of allowances for losses. This guidance is effective for us in the first quarter of 2020 with early adoption permitted, and will be applied using a modified retrospective transition method through a cumulative-effect adjustment, if any, to retained earnings as of the date of adoption. As part of our assessment work to date, we have formed an implementation work team and conducted a preliminary analysis of the new guidance. Based on our current financial assets measured at amortized cost basis, we anticipate the new guidance will require us to reflect additional credit loss expense; however, we have not yet completed an estimation of such amount and we are still evaluating the overall impact of the new guidance on our consolidated financial statements and related disclosures.

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	106,696,719	106,362,991
Treasury stock, shares (in shares)	16,858,005	15,530,952

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Paid-In Capital	Accumulated Other Comprehensive Loss	Retained Earnings	Treasury Stock
Beginning balance at Dec. 31, 2017	$ 547,480	$ 1,046	$ 603,849	$ (53,219)	$ 123,375	$ (127,571)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	18,068				18,068
Employee stock options, restricted stock and employee stock purchase plan	969	15	2,970		(90)	(1,926)
Stock-based compensation expense	4,848		4,848
Foreign currency translation, net of tax	(9,878)			(9,878)
Ending balance at Jun. 30, 2018	554,723	1,061	611,667	(63,097)	134,589	(129,497)
Beginning balance at Mar. 31, 2018	550,215	1,046	606,491	(53,885)	123,743	(127,180)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	10,846				10,846
Employee stock options, restricted stock and employee stock purchase plan	315	15	2,617			(2,317)
Stock-based compensation expense	2,559		2,559
Foreign currency translation, net of tax	(9,212)			(9,212)
Ending balance at Jun. 30, 2018	554,723	1,061	611,667	(63,097)	134,589	(129,497)
Beginning balance at Dec. 31, 2018	569,681	1,064	617,276	(67,673)	148,802	(129,788)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	5,588				5,588
Employee stock options, restricted stock and employee stock purchase plan	(277)	3	(5,524)		(995)	6,239
Stock-based compensation expense	6,874		6,874
Treasury shares purchased at cost	(15,537)					(15,537)
Foreign currency translation, net of tax	(200)			(200)
Ending balance at Jun. 30, 2019	566,129	1,067	618,626	(67,873)	153,395	(139,086)
Beginning balance at Mar. 31, 2019	569,788	1,064	622,554	(69,594)	150,084	(134,320)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	4,306				4,306
Employee stock options, restricted stock and employee stock purchase plan	(1,067)	3	(5,833)		(995)	5,758
Stock-based compensation expense	1,905		1,905
Treasury shares purchased at cost	(10,524)					(10,524)
Foreign currency translation, net of tax	1,721			1,721
Ending balance at Jun. 30, 2019	$ 566,129	$ 1,067	$ 618,626	$ (67,873)	$ 153,395	$ (139,086)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2019	Jun. 30, 2019
Lessee, Lease, Description [Line Items]
Operating lease expense	$ 7.3	$ 14.4
Operating lease liabilities in exchange for leased assets	1.5	2.9
Current operating lease liabilities
Lessee, Lease, Description [Line Items]
Operating lease expense	4.8	9.4
Noncurrent operating lease liabilities
Lessee, Lease, Description [Line Items]
Operating lease expense	$ 2.5	$ 5.0
Minimum
Lessee, Lease, Description [Line Items]
Lease, remaining lease term		1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease, remaining lease term		8 years

Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Schedule of leases

During the second quarter and first half of 2019, we entered into $1.5 million and $2.9 million, respectively, of new operating lease liabilities in exchange for leased assets.



Lease Term and Discount Rate	June 30, 2019
Weighted-average remaining lease term (years)
Operating leases	6.5
Finance leases	4.2
Weighted-average discount rate
Operating leases	4.3	%
Finance leases	4.5	%

Leases consisted of the following:



(In thousands)	Balance Sheet Classification	June 30, 2019
Assets:
Operating	Operating lease assets	$	27,365
Finance	Property, plant and equipment, net	1,241
Total lease assets		$	28,606
Liabilities:
Current:
Operating	Accrued liabilities	$	6,495
Finance	Current debt	274
Noncurrent:
Operating	Noncurrent operating lease liabilities	$	21,850
Finance	Long-term debt, less current portion	952
Total lease liabilities		$	29,571

Maturity of lease liabilities, finance leases

The maturity of lease liabilities as of June 30, 2019 is as follows:



(In thousands)	Operating Leases		Finance Leases		Total
2019 (remainder of year)	$	4,330	$	168	$	4,498
2020	6,234		320		6,554
2021	5,062		320		5,382
2022	3,987		320		4,307
2023	3,071		215		3,286
Thereafter	9,882		—		9,882
Total lease payments	32,566		1,343		33,909
Less: Interest	4,221		117		4,338
Present value of lease liabilities	$	28,345	$	1,226	$	29,571

Maturity of lease liabilities, operating leases

The maturity of lease liabilities as of June 30, 2019 is as follows:



(In thousands)	Operating Leases		Finance Leases		Total
2019 (remainder of year)	$	4,330	$	168	$	4,498
2020	6,234		320		6,554
2021	5,062		320		5,382
2022	3,987		320		4,307
2023	3,071		215		3,286
Thereafter	9,882		—		9,882
Total lease payments	32,566		1,343		33,909
Less: Interest	4,221		117		4,338
Present value of lease liabilities	$	28,345	$	1,226	$	29,571

Maturity of lease liabilities, non-cancelable operating leases

As previously disclosed in our 2018 Annual Report on Form 10-K and under the previous lease accounting guidance, future minimum payments under non-cancelable operating leases at December 31, 2018, with initial or remaining terms in excess of one year are included in the table below. Future minimum payments under capital leases are not significant.



(In thousands)
2019	$	9,112
2020	5,707
2021	4,630
2022	3,816
2023	3,144
Thereafter	4,507
	$	30,916

Receivables (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Trade receivables:
Gross trade receivables	$ 242,009	$ 248,176
Allowance for doubtful accounts	(9,473)	(10,034)
Net trade receivables	232,536	238,142
Income tax receivables	9,620	9,027
Other receivables	7,041	7,225
Total receivables, net	$ 249,197	$ 254,394

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the ordinary course of conducting our business, we become involved in litigation and other claims from private party actions, as well as judicial and administrative proceedings involving governmental authorities at the federal, state, and local levels. While the outcome of litigation or other proceedings against us cannot be predicted with certainty, management does not consider it reasonably possible that a loss resulting from such litigation or other proceedings, in excess of any amounts accrued or covered by insurance, has been incurred that is expected to have a material adverse impact on our consolidated financial statements. Kenedy, Texas Drilling Fluids Facility Fire In July 2018, a fire occurred at our Kenedy, Texas drilling fluids facility, destroying the distribution warehouse, including inventory and surrounding equipment. In addition, nearby residences and businesses were evacuated as part of the response to the fire. In order to avoid any customer service disruptions, we implemented contingency plans to supply products from alternate facilities in the area and region. During the third quarter of 2018, we received a petition filed on behalf of 23 plaintiffs seeking a total of $1.5 million for alleged bodily injuries and property damage claimed to have been incurred as a result of the fire and the subsequent efforts we undertook to remediate any potential smoke damage. The plaintiffs’ counsel subsequently filed amended petitions that increased the number of plaintiffs to 41 and also seeks punitive damages. While no trial date has been set for the matter at this time, we have been advised by our insurer that these claims are insured under our general liability insurance program. While this event and related claims are covered by our property, business interruption, and general liability insurance programs, these programs contain self-insured retentions, which remain our financial obligations. During 2018, we incurred fire-related costs of $4.8 million, which included $1.9 million for inventory and property, plant and equipment, $2.1 million in property-related cleanup and other costs, and $0.8 million relating to our self-insured retention for third-party claims. Based on the provisions of our insurance policies and initial insurance claims filed, we estimated $4.0 million in expected insurance recoveries and recognized a charge of $0.8 million in other operating (income) loss, net, in the third quarter of 2018. The insurance receivable balance included in other receivables was $0.6 million as of June 30, 2019, and December 31, 2018. As of June 30, 2019, the claims related to the fire under our property, business interruption, and general liability insurance programs have not been finalized.

Supplemental Disclosures to the Statements of Cash Flows (Tables)

6 Months Ended

Jun. 30, 2019

Supplemental Cash Flow Elements [Abstract]

Schedule of supplemental disclosures of cash flows

Supplemental disclosures to the statements of cash flows are presented below:



	First Half
(In thousands)	2019		2018
Cash paid for:
Income taxes (net of refunds)	$	5,927	$	7,175
Interest	$	4,705	$	4,245

Cash, cash equivalents and restricted cash

Cash, cash equivalents, and restricted cash in the consolidated statements of cash flows consisted of the following:



(In thousands)	June 30, 2019		December 31, 2018
Cash and cash equivalents	$	49,035	$	56,118
Restricted cash (included in other current assets)	11,389		8,148
Cash, cash equivalents, and restricted cash	$	60,424	$	64,266

Leases

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Leases

We lease certain office space, manufacturing facilities, warehouses, land, and equipment. Our leases have remaining terms ranging from 1 to 8 years with various extension and termination options. We consider these options in determining the lease term used to establish our operating lease assets and liabilities. Lease agreements with lease and non-lease components are accounted for as a single lease component. Leases with an initial term of 12 months or less are not recorded in the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term.

Leases consisted of the following:



(In thousands)	Balance Sheet Classification	June 30, 2019
Assets:
Operating	Operating lease assets	$	27,365
Finance	Property, plant and equipment, net	1,241
Total lease assets		$	28,606
Liabilities:
Current:
Operating	Accrued liabilities	$	6,495
Finance	Current debt	274
Noncurrent:
Operating	Noncurrent operating lease liabilities	$	21,850
Finance	Long-term debt, less current portion	952
Total lease liabilities		$	29,571

Total operating lease expenses were $7.3 million for the second quarter of 2019, of which $4.8 million related to short-term leases and $2.5 million related to leases recognized in the balance sheet. Total operating lease expenses were $14.4 million for the first half of 2019, of which $9.4 million related to short-term leases and $5.0 million related to leases recognized in the balance sheet. Total operating lease expenses approximate cash paid during each period. Amortization and interest for finance leases are not material. Operating lease expenses and amortization of leased assets for finance leases are included in either cost of revenues or selling, general and administrative expenses. Interest for finance leases is included in interest expense, net.

The maturity of lease liabilities as of June 30, 2019 is as follows:



(In thousands)	Operating Leases		Finance Leases		Total
2019 (remainder of year)	$	4,330	$	168	$	4,498
2020	6,234		320		6,554
2021	5,062		320		5,382
2022	3,987		320		4,307
2023	3,071		215		3,286
Thereafter	9,882		—		9,882
Total lease payments	32,566		1,343		33,909
Less: Interest	4,221		117		4,338
Present value of lease liabilities	$	28,345	$	1,226	$	29,571

During the second quarter and first half of 2019, we entered into $1.5 million and $2.9 million, respectively, of new operating lease liabilities in exchange for leased assets.



Lease Term and Discount Rate	June 30, 2019
Weighted-average remaining lease term (years)
Operating leases	6.5
Finance leases	4.2
Weighted-average discount rate
Operating leases	4.3	%
Finance leases	4.5	%



(In thousands)
2019	$	9,112
2020	5,707
2021	4,630
2022	3,816
2023	3,144
Thereafter	4,507
	$	30,916

Leases

Leases consisted of the following:



(In thousands)	Balance Sheet Classification	June 30, 2019
Assets:
Operating	Operating lease assets	$	27,365
Finance	Property, plant and equipment, net	1,241
Total lease assets		$	28,606
Liabilities:
Current:
Operating	Accrued liabilities	$	6,495
Finance	Current debt	274
Noncurrent:
Operating	Noncurrent operating lease liabilities	$	21,850
Finance	Long-term debt, less current portion	952
Total lease liabilities		$	29,571

The maturity of lease liabilities as of June 30, 2019 is as follows:



(In thousands)	Operating Leases		Finance Leases		Total
2019 (remainder of year)	$	4,330	$	168	$	4,498
2020	6,234		320		6,554
2021	5,062		320		5,382
2022	3,987		320		4,307
2023	3,071		215		3,286
Thereafter	9,882		—		9,882
Total lease payments	32,566		1,343		33,909
Less: Interest	4,221		117		4,338
Present value of lease liabilities	$	28,345	$	1,226	$	29,571

During the second quarter and first half of 2019, we entered into $1.5 million and $2.9 million, respectively, of new operating lease liabilities in exchange for leased assets.



Lease Term and Discount Rate	June 30, 2019
Weighted-average remaining lease term (years)
Operating leases	6.5
Finance leases	4.2
Weighted-average discount rate
Operating leases	4.3	%
Finance leases	4.5	%



(In thousands)
2019	$	9,112
2020	5,707
2021	4,630
2022	3,816
2023	3,144
Thereafter	4,507
	$	30,916

Receivables (Tables)

6 Months Ended

Jun. 30, 2019

Receivables [Abstract]

Schedule of receivables

Receivables consisted of the following:



(In thousands)	June 30, 2019			December 31, 2018
Trade receivables:
Gross trade receivables	$	242,009		$	248,176
Allowance for doubtful accounts	(9,473		)	(10,034		)
Net trade receivables	232,536			238,142
Income tax receivables	9,620			9,027
Other receivables	7,041			7,225
Total receivables, net	$	249,197		$	254,394

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Revenues	$ 216,412	$ 236,262	$ 427,885	$ 463,555
Cost of revenues	177,933	188,480	352,909	374,935
Selling, general and administrative expenses	28,037	28,708	58,779	55,662
Other operating income, net	(472)	(69)	(396)	(23)
Operating income	10,914	19,143	16,593	32,981
Foreign currency exchange (gain) loss	990	458	(72)	683
Interest expense, net	3,523	3,691	7,179	6,991
Income before income taxes	6,401	14,994	9,486	25,307
Provision for income taxes	2,095	4,148	3,898	7,239
Net income	$ 4,306	$ 10,846	$ 5,588	$ 18,068
Net income per common share - basic (in dollars per share)	$ 0.05	$ 0.12	$ 0.06	$ 0.20
Net income per common share - diluted (in dollars per share)	$ 0.05	$ 0.12	$ 0.06	$ 0.19

Segment Data

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Segment Data

Summarized operating results for our reportable segments are shown in the following table (net of inter-segment transfers):



	Second Quarter						First Half
(In thousands)	2019			2018			2019			2018
Revenues
Fluids systems	$	172,544		$	179,738		$	333,197		$	357,117
Mats and integrated services	43,868			56,524			94,688			106,438
Total revenues	$	216,412		$	236,262		$	427,885		$	463,555

Operating income (loss)
Fluids systems	$	12,184		$	13,327		$	16,058		$	23,804
Mats and integrated services	9,276			14,853			22,814			26,939
Corporate office	(10,546		)	(9,037		)	(22,279		)	(17,762		)
Total operating income	$	10,914		$	19,143		$	16,593		$	32,981

The following table presents further disaggregated revenues for the Fluids Systems segment:



	Second Quarter				First Half
(In thousands)	2019		2018		2019		2018
United States	$	117,154	$	104,333	$	220,213	$	196,802
Canada	4,988		11,285		18,254		34,357
Total North America	122,142		115,618		238,467		231,159

EMEA	44,455		49,546		82,220		100,981
Asia Pacific	4,539		5,671		9,663		8,160
Latin America	1,408		8,903		2,847		16,817
Total International	50,402		64,120		94,730		125,958

Total Fluids Systems revenues	$	172,544	$	179,738	$	333,197	$	357,117

The following table presents further disaggregated revenues for the Mats and Integrated Services segment:



	Second Quarter				First Half
(In thousands)	2019		2018		2019		2018
Service revenues	$	19,909	$	24,447	$	41,059	$	45,751
Rental revenues	17,675		20,938		39,255		39,750
Product sales revenues	6,284		11,139		14,374		20,937
Total Mats and Integrated Services revenues	$	43,868	$	56,524	$	94,688	$	106,438

Basis of Presentation and Significant Accounting Policies - New Guidance (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Operating lease, right-of-use asset	$ 27,365
Operating lease, liability	$ 28,345
ASU 2016-02
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Operating lease, right-of-use asset		$ 28,000
Operating lease, liability		$ 28,000

Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies The accompanying unaudited condensed consolidated financial statements of Newpark Resources, Inc. and our wholly-owned subsidiaries, which we collectively refer to as “we,” “our,” or “us,” have been prepared in accordance with Rule 10-01 of Regulation S-X for interim financial statements required to be filed with the Securities and Exchange Commission (“SEC”), and do not include all information and footnotes required by the accounting principles generally accepted in the United States (“U.S. GAAP”) for complete financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2018. Our fiscal year end is December 31, our second quarter represents the three-month period ended June 30, and our first half represents the six-month period ended June 30. The results of operations for the second quarter and first half of 2019 are not necessarily indicative of the results to be expected for the entire year. Unless otherwise noted, all currency amounts are stated in U.S. dollars. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments necessary to present fairly our financial position as of June 30, 2019, our results of operations for the second quarter and first half of 2019 and 2018, and our cash flows for the first half of 2019 and 2018. All adjustments are of a normal recurring nature. Our balance sheet at December 31, 2018 is derived from the audited consolidated financial statements at that date. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. For further information, see Note 1 in our Annual Report on Form 10-K for the year ended December 31, 2018. New Accounting Pronouncements Standards Adopted in 2019 Leases. In February 2016, the Financial Accounting Standards Board (“FASB”) amended the guidance related to the accounting for leases. The new guidance provides principles for the recognition, measurement, presentation, and disclosure of leases and requires lessees to recognize both assets and liabilities arising from finance and operating leases. The classification as either a finance or operating lease will determine whether lease expense is recognized based on an effective interest method basis or on a straight-line basis over the term of the lease, respectively. We adopted this new guidance as of January 1, 2019 using the modified retrospective transition method, and recorded approximately $28 million of operating lease assets and liabilities as of January 1, 2019, with no cumulative effect adjustment to retained earnings. The new guidance had no impact on our consolidated statements of operations or cash flows. Results for reporting periods beginning after December 31, 2018 are presented under the new guidance, while prior period amounts were not adjusted and continue to be reported in accordance with previous guidance. As permitted under the transition guidance within the new standard, we elected to carry forward the historical lease identification and classification for existing leases upon adoption. We have also made an accounting policy election to not recognize leases with an initial term of 12 months or less in the consolidated balance sheets. See Note 8 for additional required disclosures. Standards Not Yet Adopted Credit Losses. In June 2016, the FASB issued new guidance which requires financial assets measured at amortized cost basis, including trade receivables, to be presented at the net amount expected to be collected. The new guidance requires an entity to estimate its lifetime “expected credit loss” for such assets at inception which will generally result in the earlier recognition of allowances for losses. This guidance is effective for us in the first quarter of 2020 with early adoption permitted, and will be applied using a modified retrospective transition method through a cumulative-effect adjustment, if any, to retained earnings as of the date of adoption. As part of our assessment work to date, we have formed an implementation work team and conducted a preliminary analysis of the new guidance. Based on our current financial assets measured at amortized cost basis, we anticipate the new guidance will require us to reflect additional credit loss expense; however, we have not yet completed an estimation of such amount and we are still evaluating the overall impact of the new guidance on our consolidated financial statements and related disclosures.

Repurchase Program	6 Months Ended
Repurchase Program	Jun. 30, 2019
Equity [Abstract]
Repurchase Program	Repurchase Program In November 2018, our Board of Directors authorized changes to our existing securities repurchase program. The authorization increased the amount under the repurchase program to $100 million, available for repurchases of any combination of our common stock and our 2021 Convertible Notes. The repurchase program has no specific term. Repurchases are expected to be funded from operating cash flows, available cash on hand, and borrowings under our ABL Facility (as defined in Note 7). As part of the share repurchase program, our management has been authorized to establish trading plans under Rule 10b5-1 of the Securities Exchange Act of 1934. During the first half of 2019, we repurchased an aggregate of 2,047,014 shares of our common stock under our Board authorized repurchase program for a total cost of $15.5 million. There were no shares repurchased under the program during the first half of 2018. As of June 30, 2019, we had $84.5 million of authorization remaining under the program.

Segment Data - Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue, Major Customer [Line Items]
Revenues	$ 216,412	$ 236,262	$ 427,885	$ 463,555
Operating Income (Loss)	10,914	19,143	16,593	32,981
Operating segments \| Fluids systems
Revenue, Major Customer [Line Items]
Revenues	172,544	179,738	333,197	357,117
Operating Income (Loss)	12,184	13,327	16,058	23,804
Operating segments \| Mats and integrated services
Revenue, Major Customer [Line Items]
Revenues	43,868	56,524	94,688	106,438
Operating Income (Loss)	9,276	14,853	22,814	26,939
Corporate, non-segment \| Corporate office
Revenue, Major Customer [Line Items]
Operating Income (Loss)	$ (10,546)	$ (9,037)	$ (22,279)	$ (17,762)

Earnings Per Share - Reconciliation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Numerator
Net income - basic and diluted	$ 4,306	$ 10,846	$ 5,588	$ 18,068
Denominator
Weighted average common shares outstanding - basic (in shares)	89,806	89,703	89,958	89,400
Dilutive effect of stock options and restricted stock awards (in shares)	1,900	2,823	2,082	2,730
Dilutive effect of 2021 Convertible Notes (in shares)	0	1,265	0	636
Weighted average common shares outstanding - diluted (in shares)	91,706	93,791	92,040	92,766
Net income per common share
Basic (in dollars per share)	$ 0.05	$ 0.12	$ 0.06	$ 0.20
Diluted (in dollars per share)	$ 0.05	$ 0.12	$ 0.06	$ 0.19
Stock options and restricted stock excluded from calculation of diluted earnings per share because anti-dilutive for the period (in shares)	1,707	1,173	1,710	1,412

Segment Data (Tables)

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Schedule of operating results for reportable segments

Summarized operating results for our reportable segments are shown in the following table (net of inter-segment transfers):



	Second Quarter						First Half
(In thousands)	2019			2018			2019			2018
Revenues
Fluids systems	$	172,544		$	179,738		$	333,197		$	357,117
Mats and integrated services	43,868			56,524			94,688			106,438
Total revenues	$	216,412		$	236,262		$	427,885		$	463,555

Operating income (loss)
Fluids systems	$	12,184		$	13,327		$	16,058		$	23,804
Mats and integrated services	9,276			14,853			22,814			26,939
Corporate office	(10,546		)	(9,037		)	(22,279		)	(17,762		)
Total operating income	$	10,914		$	19,143		$	16,593		$	32,981

Schedule of disaggregated revenues, geographic

The following table presents further disaggregated revenues for the Fluids Systems segment:



	Second Quarter				First Half
(In thousands)	2019		2018		2019		2018
United States	$	117,154	$	104,333	$	220,213	$	196,802
Canada	4,988		11,285		18,254		34,357
Total North America	122,142		115,618		238,467		231,159

EMEA	44,455		49,546		82,220		100,981
Asia Pacific	4,539		5,671		9,663		8,160
Latin America	1,408		8,903		2,847		16,817
Total International	50,402		64,120		94,730		125,958

Total Fluids Systems revenues	$	172,544	$	179,738	$	333,197	$	357,117

Schedule of disaggregated revenues, segments

The following table presents further disaggregated revenues for the Mats and Integrated Services segment:



	Second Quarter				First Half
(In thousands)	2019		2018		2019		2018
Service revenues	$	19,909	$	24,447	$	41,059	$	45,751
Rental revenues	17,675		20,938		39,255		39,750
Product sales revenues	6,284		11,139		14,374		20,937
Total Mats and Integrated Services revenues	$	43,868	$	56,524	$	94,688	$	106,438

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax	$ (179)	$ 1,486	$ (109)	$ 987

Leases - Maturity of Lease Liability (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Operating Leases
2019 (remainder of year)	$ 4,330
2020	6,234
2021	5,062
2022	3,987
2023	3,071
Thereafter	9,882
Total lease payments	32,566
Less: Interest	4,221
Present value of lease liabilities	28,345
Finance Lease, Liability, Payment, Due [Abstract]
2019 (remainder of year)	168
2020	320
2021	320
2022	320
2023	215
Thereafter	0
Total lease payments	1,343
Less: Interest	117
Present value of lease liabilities	1,226
Total
2019 (remainder of year)	4,498
2020	6,554
2021	5,382
2022	4,307
2023	3,286
Thereafter	9,882
Total lease payments	33,909
Less: Interest	4,338
Present value of lease liabilities	$ 29,571
Operating Leases Before Topic 842 Adoption
2019		$ 9,112
2020		5,707
2021		4,630
2022		3,816
2023		3,144
Thereafter		4,507
Total operating leases		$ 30,916

Stock-Based and Other Long-Term Incentive Compensation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019
Performance-based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 2.3
Time-based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of outstanding stock, minimum	0.00%
Percentage of outstanding stock, maximum	200.00%
The 2015 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation, authorized (in shares)	12,300,000	9,800,000
Plan modification, expense recognized		$ 4.0
The 2015 Plan \| Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation, authorized (in shares)	1,135,216
The 2015 Plan \| Executive officer and key employees \| Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Equity-based compensation, available for grant (in shares)	3,229,820
Weighted average grant-date fair value (in dollars per share)	$ 7.34
The 2015 Plan \| Non-employee director \| Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity-based compensation (in shares)	104,900

Commitments and Contingencies (Details) - Damage from fire $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Dec. 31, 2018 USD ($) plaintiff	Sep. 30, 2018 USD ($) plaintiff	Dec. 31, 2018 USD ($)	Jun. 30, 2019 USD ($)
Natural disasters
Loss Contingencies [Line Items]
Number of plaintiffs \| plaintiff	41	23
Damages sought, value		$ 1.5
Loss contingency, costs incurred			$ 4.8
Loss contingency, receivable	$ 0.6	4.0	0.6	$ 0.6
Net of insurance proceeds		$ 0.8
Inventory and property, plant and equipment
Loss Contingencies [Line Items]
Loss contingency, costs incurred			1.9
Property-related cleanup and other costs
Loss Contingencies [Line Items]
Loss contingency, costs incurred			2.1
Self-insured retention for third-party claims
Loss Contingencies [Line Items]
Loss contingency, costs incurred			$ 0.8

Financing Arrangements and Fair Value of Financial Instruments - Schedule of Financing Arrangements (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term debt, gross	$ 177,409	$ 179,499
Unamortized discount and debt issuance costs	(15,097)	(17,752)
Long-term debt	162,312	161,747
Long-term debt, current portion, gross	(5,657)	(2,522)
Unamortized discount and debt issuance costs, current portion	0	0
Long-term debt, current portion	(5,657)	(2,522)
Long-term debt, excluding current maturities, gross	171,752	176,977
Unamortized discount and debt issuance costs, noncurrent	(15,097)	(17,752)
Long-term debt, excluding current maturities	156,655	159,225
Other Debt
Debt Instrument [Line Items]
Long-term debt, gross	6,609	3,199
Long-term debt	6,609	3,199
Revolving credit facility \| ABL Facility
Debt Instrument [Line Items]
Long-term debt, gross	70,800	76,300
Long-term debt	70,800	76,300
Senior notes \| Convertible Notes due 2021
Debt Instrument [Line Items]
Long-term debt, gross	100,000	100,000
Unamortized discount and debt issuance costs	(15,097)	(17,752)
Long-term debt	$ 84,903	$ 82,248

Earnings Per Share

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Earnings Per Share

The following table presents the reconciliation of the numerator and denominator for calculating net income per share:



	Second Quarter				First Half
(In thousands, except per share data)	2019		2018		2019		2018
Numerator
Net income - basic and diluted	$	4,306	$	10,846	$	5,588	$	18,068

Denominator
Weighted average common shares outstanding - basic	89,806		89,703		89,958		89,400
Dilutive effect of stock options and restricted stock awards	1,900		2,823		2,082		2,730
Dilutive effect of 2021 Convertible Notes	—		1,265		—		636
Weighted average common shares outstanding - diluted	91,706		93,791		92,040		92,766

Net income per common share
Basic	$	0.05	$	0.12	$	0.06	$	0.20
Diluted	$	0.05	$	0.12	$	0.06	$	0.19

We excluded the following weighted-average potential shares from the calculations of diluted net income per share during the applicable periods because their inclusion would have been anti-dilutive:



	Second Quarter		First Half
(In thousands)	2019	2018	2019	2018
Stock options and restricted stock awards	1,707	1,173	1,710	1,412

The 2021 Convertible Notes (as defined in Note 7) only impact the calculation of diluted net income per share in periods that the average price of our common stock, as calculated in accordance with the terms of the indenture governing the 2021 Convertible Notes, exceeds the conversion price of $9.33 per share. We have the option to pay cash, issue shares of common stock, or any combination thereof for the aggregate amount due upon conversion of the 2021 Convertible Notes as further described in Note 7. If converted, we currently intend to settle the principal amount of the notes in cash and as a result, only the amounts payable in excess of the principal amount of the notes, if any, are assumed to be settled with shares of common stock for purposes of computing diluted net income per share.

Financing Arrangements and Fair Value of Financial Instruments - Narrative (Details)	1 Months Ended	6 Months Ended	12 Months Ended
	May 31, 2016 USD ($)	Jun. 30, 2019 USD ($) $ / shares	Dec. 31, 2018 USD ($) trading_day shares	Oct. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	May 12, 2016 USD ($)
Business day period			5 days
Consecutive trading day period			5 days
Percent threshold last reported sale price			98.00%
Long-term debt, excluding current maturities		$ 156,655,000	$ 159,225,000
Current debt		5,657,000	2,522,000
Restricted cash and cash equivalents, current		9,400,000
Foreign Operations
Current debt		1,300,000	$ 1,100,000
Restricted cash and cash equivalents, current		$ 2,000,000.0
Senior notes
Debt instrument, convertible, threshold trading days \| trading_day			20
Debt instrument, convertible, threshold consecutive trading days \| trading_day			30
Conversion price percentage			130.00%
Debt conversion, principal amount as basis for conversion rate			$ 1,000
Debt conversion, converted shares for basis principal (shares) \| shares			107.1381
Interest rate, effective percentage		11.30%
Convertible Notes due 2021 \| Senior notes
Debt instrument, face amount					$ 100,000,000.0
Interest rate, stated percentage			4.00%
Debt instrument, convertible, conversion price (in dollars per share) \| $ / shares		$ 9.33
Convertible debt, fair value		$ 107,000,000.0	$ 120,900,000
Convertible Notes due 2021 \| Revolving credit facility
Fixed charge coverage ratio, amount	$ 25,000,000.0
ABL Facility \| Federal Funds Rate
Base rate basis spread on variable rate	0.50%
ABL Facility \| London Interbank Offered Rate (LIBOR)
Base rate basis spread on variable rate	1.00%
Basis spread on variable rate		1.50%
ABL Facility \| Base Rate
Basis spread on variable rate		50.00%
ABL Facility \| Minimum \| London Interbank Offered Rate (LIBOR)
Basis spread on variable rate	1.50%
ABL Facility \| Minimum \| Base Rate
Basis spread on variable rate	50.00%
ABL Facility \| Maximum \| London Interbank Offered Rate (LIBOR)
Basis spread on variable rate	2.00%
ABL Facility \| Maximum \| Base Rate
Basis spread on variable rate	1.00%
ABL Facility \| Revolving credit facility
Maximum borrowing capacity		$ 165,700,000		$ 200,000,000.0
Maximum borrowing capacity, maximum				$ 275,000,000.0
Secured debt		70,800,000
Remaining borrowing capacity		$ 94,900,000
Fixed charge coverage ratio, amount						$ 22,500,000
Debt, weighted average interest rate			4.30%
Unused capacity, commitment fee percentage		0.375%
Covenant terms acceleration of other indebtedness						$ 25,000,000.0
ABL Facility \| Revolving credit facility \| Minimum
Unused capacity, commitment fee percentage		0.25%
ABL Facility \| Revolving credit facility \| Maximum
Unused capacity, commitment fee percentage		0.375%
Credit Agreement
Letters of credit outstanding, amount		$ 8,900,000
Credit Agreement \| Foreign Operations
Letters of credit outstanding, amount		39,300,000
Convertible debt, debt component
Long-term debt, excluding current maturities		84,900,000
Debt issuance cost		1,600,000
Unamortized debt discount		$ 13,500,000

Earnings Per Share - Narrative (Details)	Jun. 30, 2019 $ / shares
Convertible Notes due 2021 \| Senior notes
Debt Instrument [Line Items]
Debt instrument, convertible, conversion price (in dollars per share)	$ 9.33

Stock-Based and Other Long-Term Incentive Compensation	6 Months Ended
Stock-Based and Other Long-Term Incentive Compensation	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Stock-Based and Other Long-Term Incentive Compensation	Stock-Based and Other Long-Term Incentive Compensation During the second quarter of 2019, our stockholders approved an amendment to the 2015 Employee Equity Incentive Plan (“2015 Plan”) to increase the number of shares authorized for issuance under the 2015 Plan from 9,800,000 to 12,300,000 shares and remove the fungible share counting provision. During the second quarter of 2019, the Compensation Committee of our Board of Directors (“Compensation Committee”) approved equity-based compensation to executive officers and other key employees, consisting of 1,135,216 shares of restricted stock units which will primarily vest in equal installments over a three-year period. At June 30, 2019, 3,229,820 shares remained available for award under the 2015 Plan. In addition, non-employee directors received a grant of 104,900 shares of restricted stock awards which will vest in full on the earlier of the day prior to the next annual meeting of stockholders following the grant date or the first anniversary of the grant date. The weighted average grant-date fair value was $7.34 per share for both the restricted stock units and restricted stock awards. Also during the second quarter of 2019, the Compensation Committee approved the issuance of cash-settled awards to certain executive officers, consisting of a target amount of $2.3 million of performance-based cash awards. The performance-based cash awards will be settled based on the relative ranking of our total shareholder return (“TSR”) as compared to the TSR of our designated peer group over a three-year period. The performance period began June 1, 2019 and ends May 31, 2022, with the ending TSR price being equal to the average closing price of our shares over the 30-calendar days ending May 31, 2022 and the cash payout for each executive ranging from 0% to 200% of target. The performance-based cash awards are accrued as a liability award over the performance period based on the estimated fair value. The fair value of the performance-based cash awards is remeasured each period using a Monte-Carlo valuation model with changes in fair value recognized in the consolidated statements of operations. In February 2019, the Compensation Committee modified our retirement policy applicable to cash and equity awards granted to include our Chief Executive Officer and those officers who report to our Chief Executive Officer, whom were previously excluded from the retirement policy. In addition, the Compensation Committee also modified the retirement policy for certain vested stock options that remain outstanding to extend the exercise period available following the qualifying retirement of eligible employees. As a result of these modifications, we recognized a pretax charge of approximately $4.0 million in the first quarter of 2019. This charge primarily reflects the acceleration of expense, as well as the incremental value associated with modifications to extend the exercise period of outstanding options, for previously-granted awards for retirement eligible executive officers.

Supplemental Disclosures to the Statements of Cash Flows - Supplemental Disclosures (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Supplemental Cash Flow Elements [Abstract]
Income taxes (net of refunds)	$ 5,927	$ 7,175
Interest	$ 4,705	$ 4,245