$INVX
Innovex International, Inc.

2015 Q4 Form 10-K Financial Statement

#000104289317000004 Filed on February 28, 2017

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2015 Q2
Revenue $201.6M $201.4M $215.3M
YoY Change -20.87% -16.69% -6.53%
Cost Of Revenue $108.4M $108.1M $117.7M
YoY Change -23.96% -20.05% -5.86%
Gross Profit $93.28M $93.27M $97.61M
YoY Change -16.95% -12.42% -7.32%
Gross Profit Margin 46.26% 46.31% 45.34%
Selling, General & Admin $20.20M $17.28M $33.63M
YoY Change -10.22% -17.1% 31.79%
% of Gross Profit 21.66% 18.53% 34.46%
Research & Development $12.80M $11.70M $11.40M
YoY Change 10.34% -7.87% 5.56%
% of Gross Profit 13.72% 12.54% 11.68%
Depreciation & Amortization $7.700M $7.700M $7.600M
YoY Change -8.33% 0.0% 2.7%
% of Gross Profit 8.25% 8.26% 7.79%
Operating Expenses $32.90M $17.28M $33.63M
YoY Change -3.52% -17.1% 31.79%
Operating Profit $60.31M $64.26M $52.58M
YoY Change -22.91% -11.97% -23.75%
Interest Expense $400.0K $4.000K $3.000K
YoY Change 300.0% 33.33% -40.0%
% of Operating Profit 0.66% 0.01% 0.01%
Other Income/Expense, Net
YoY Change
Pretax Income $60.70M $64.60M $52.74M
YoY Change -22.48% -11.75% -23.8%
Income Tax $12.30M $13.82M $13.53M
% Of Pretax Income 20.26% 21.39% 25.65%
Net Earnings $48.35M $50.78M $39.21M
YoY Change -18.16% -8.81% -23.6%
Net Earnings / Revenue 23.98% 25.21% 18.22%
Basic Earnings Per Share $1.28 $1.32 $1.01
Diluted Earnings Per Share $1.28 $1.32 $1.01
COMMON SHARES
Basic Shares Outstanding 38.36M shares 38.35M shares 38.69M shares
Diluted Shares Outstanding 38.55M shares 38.89M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $381.3M $397.0M $382.7M
YoY Change 27.65% 26.03% 11.7%
Cash & Equivalents $381.3M $397.0M $382.7M
Short-Term Investments
Other Short-Term Assets $54.11M $43.29M $38.10M
YoY Change 41.23% 60.71% 43.16%
Inventory $344.5M $365.7M $383.8M
Prepaid Expenses
Receivables $319.8M $298.4M $299.4M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.124B $1.134B $1.131B
YoY Change -0.25% 2.7% 0.84%
LONG-TERM ASSETS
Property, Plant & Equipment $294.3M $292.6M $301.6M
YoY Change -4.93% -5.7% -4.63%
Goodwill $0.00
YoY Change
Intangibles $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets $9.701M $11.69M $14.18M
YoY Change -22.92% -20.84% 31.88%
Total Long-Term Assets $304.0M $304.3M $315.8M
YoY Change -5.64% -6.39% -3.43%
TOTAL ASSETS
Total Short-Term Assets $1.124B $1.134B $1.131B
Total Long-Term Assets $304.0M $304.3M $315.8M
Total Assets $1.428B $1.438B $1.447B
YoY Change -1.45% 0.64% -0.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $30.93M $44.69M $39.52M
YoY Change -42.54% -7.16% -28.16%
Accrued Expenses $30.80M $36.80M $38.10M
YoY Change -35.43% -30.04% 4.38%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $100.8M $118.1M $126.7M
YoY Change -49.25% -30.32% -25.2%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $100.8M $118.1M $126.7M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $103.8M $122.3M $131.0M
YoY Change -49.14% -31.63% -26.8%
SHAREHOLDERS EQUITY
Retained Earnings $1.425B $1.409B $1.371B
YoY Change 11.48% 15.58% 17.84%
Common Stock $378.0K $382.0K $5.265M
YoY Change -97.76% -99.39% -95.19%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.324B $1.316B $1.316B
YoY Change
Total Liabilities & Shareholders Equity $1.428B $1.438B $1.447B
YoY Change -1.45% 0.64% -0.12%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2015 Q2
OPERATING ACTIVITIES
Net Income $48.35M $50.78M $39.21M
YoY Change -18.16% -8.81% -23.6%
Depreciation, Depletion And Amortization $7.700M $7.700M $7.600M
YoY Change -8.33% 0.0% 2.7%
Cash From Operating Activities $31.50M $45.70M $25.90M
YoY Change -32.55% 27.3% 43.09%
INVESTING ACTIVITIES
Capital Expenditures -$10.40M -$5.500M -$5.000M
YoY Change -7.96% -31.25% -50.0%
Acquisitions
YoY Change
Other Investing Activities $200.0K $100.0K $0.00
YoY Change -60.0% -100.0%
Cash From Investing Activities -$10.10M -$5.500M -$5.100M
YoY Change -8.18% -30.38% -47.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -34.70M -21.00M -18.20M
YoY Change -28.75% -57.75% -79.53%
NET CHANGE
Cash From Operating Activities 31.50M 45.70M 25.90M
Cash From Investing Activities -10.10M -5.500M -5.100M
Cash From Financing Activities -34.70M -21.00M -18.20M
Net Change In Cash -13.30M 19.20M 2.600M
YoY Change 2.31% -188.48% -103.23%
FREE CASH FLOW
Cash From Operating Activities $31.50M $45.70M $25.90M
Capital Expenditures -$10.40M -$5.500M -$5.000M
Free Cash Flow $41.90M $51.20M $30.90M
YoY Change -27.76% 16.63% 9.96%

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CY2015 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
30477000 USD
CY2016 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
31857000 USD
CY2014 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.22
CY2015Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.38
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.01
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.32
CY2015Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.28
CY2015 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.00
CY2016Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.97
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.96
CY2016Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.51
CY2016Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.03
CY2016 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.48
CY2014 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.19
CY2015Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.38
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.01
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.32
CY2015Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.28
CY2015 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.98
CY2016Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.97
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.96
CY2016Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.51
CY2016Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.03
CY2016 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.47
CY2014 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-6566000 USD
CY2015 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-7304000 USD
CY2016 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-24619000 USD
CY2014 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.253
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.231
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.195
CY2015 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
70000 USD
CY2016 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
135000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
248000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
462000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1500000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
1500000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1500000 USD
CY2014 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
CY2014 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
EffectiveIncomeTaxRateReconciliationDeductionsQualifiedProductionActivities
0.017
CY2015 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
EffectiveIncomeTaxRateReconciliationDeductionsQualifiedProductionActivities
0.014
CY2016 us-gaap Effective Income Tax Rate Reconciliation Deductions Qualified Production Activities
EffectiveIncomeTaxRateReconciliationDeductionsQualifiedProductionActivities
0.011
CY2014 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.060
CY2015 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.073
CY2016 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.117
CY2014 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.004
CY2015 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.011
CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.008
CY2014 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
EffectiveIncomeTaxRateReconciliationTaxCreditsForeign
0.016
CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
EffectiveIncomeTaxRateReconciliationTaxCreditsForeign
0.013
CY2016 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Foreign
EffectiveIncomeTaxRateReconciliationTaxCreditsForeign
0.009
CY2015Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
17957000 USD
CY2016Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
10829000 USD
CY2014 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
558000 USD
CY2015 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
70000 USD
CY2016 us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
135000 USD
CY2014 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
558000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1500000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1500000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
248000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
30056000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
0 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
29594000 USD
CY2014 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
146000 USD
CY2015 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-69000 USD
CY2016 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
103000 USD
CY2015Q4 us-gaap Goodwill
Goodwill
0 USD
CY2016Q4 us-gaap Goodwill
Goodwill
34371000 USD
CY2016 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
34371000 USD
CY2016 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2015Q1 us-gaap Gross Profit
GrossProfit
100864000 USD
CY2015Q2 us-gaap Gross Profit
GrossProfit
97612000 USD
CY2015Q3 us-gaap Gross Profit
GrossProfit
93270000 USD
CY2015Q4 us-gaap Gross Profit
GrossProfit
93278000 USD
CY2016Q1 us-gaap Gross Profit
GrossProfit
73465000 USD
CY2016Q2 us-gaap Gross Profit
GrossProfit
62558000 USD
CY2016Q3 us-gaap Gross Profit
GrossProfit
46007000 USD
CY2016Q4 us-gaap Gross Profit
GrossProfit
28297000 USD
CY2014 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
54188000 USD
CY2015 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-89374000 USD
CY2016 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-11368000 USD
CY2014 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
102696000 USD
CY2015 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-36729000 USD
CY2016 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-106544000 USD
CY2014 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
36814000 USD
CY2015 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-28539000 USD
CY2014 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 USD
CY2015 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 USD
CY2016 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 USD
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
124571000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
107158000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
33543000 USD
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
279380000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
249771000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
115868000 USD
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
154809000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
142613000 USD
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
82325000 USD
CY2014 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
70668000 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
57763000 USD
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
22647000 USD
CY2016 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
0 USD
CY2014 us-gaap Income Taxes Paid
IncomeTaxesPaid
69900000 USD
CY2015 us-gaap Income Taxes Paid
IncomeTaxesPaid
61700000 USD
CY2016 us-gaap Income Taxes Paid
IncomeTaxesPaid
23000000 USD
CY2016 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-7873000 USD
CY2014 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
13239000 USD
CY2015 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
17883000 USD
CY2016 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-9816000 USD
CY2014 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
226000 shares
CY2015 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
167000 shares
CY2016 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
130000 shares
CY2015Q4 us-gaap Indefinite Lived Trademarks
IndefiniteLivedTrademarks
0 USD
CY2016Q4 us-gaap Indefinite Lived Trademarks
IndefiniteLivedTrademarks
8416000 USD
CY2015Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
0 USD
CY2016Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
29594000 USD
CY2014 us-gaap Interest Expense
InterestExpense
35000 USD
CY2015 us-gaap Interest Expense
InterestExpense
12000 USD
CY2016 us-gaap Interest Expense
InterestExpense
28000 USD
CY2015Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
178292000 USD
CY2016Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
233732000 USD
CY2015Q4 us-gaap Inventory Gross
InventoryGross
383705000 USD
CY2016Q4 us-gaap Inventory Gross
InventoryGross
401061000 USD
CY2015Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
39200000 USD
CY2015Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
39247000 USD
CY2016Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
45648000 USD
CY2016Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
45600000 USD
CY2015Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
104102000 USD
CY2016Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
81645000 USD
CY2014 us-gaap Investment Income Interest
InvestmentIncomeInterest
667000 USD
CY2015Q4 us-gaap Inventory Net
InventoryNet
344458000 USD
CY2016Q4 us-gaap Inventory Net
InventoryNet
355413000 USD
CY2016 us-gaap Investment Income Interest
InvestmentIncomeInterest
3037000 USD
CY2015Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
101311000 USD
CY2016Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
85684000 USD
CY2015 us-gaap Investment Income Interest
InvestmentIncomeInterest
948000 USD
CY2015Q4 us-gaap Liabilities
Liabilities
103792000 USD
CY2016Q4 us-gaap Liabilities
Liabilities
104980000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1428250000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1461404000 USD
CY2015Q4 us-gaap Liabilities Current
LiabilitiesCurrent
100815000 USD
CY2016Q4 us-gaap Liabilities Current
LiabilitiesCurrent
101480000 USD
CY2014 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-186827000 USD
CY2015 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-73565000 USD
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-21893000 USD
CY2014 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-41571000 USD
CY2015 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-26655000 USD
CY2016 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-157849000 USD
CY2014 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
149313000 USD
CY2015 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
190155000 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
246522000 USD
CY2014 us-gaap Net Income Loss
NetIncomeLoss
208712000 USD
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
53664000 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
39213000 USD
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
50777000 USD
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
48354000 USD
CY2015 us-gaap Net Income Loss
NetIncomeLoss
192008000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
36769000 USD
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
36137000 USD
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
19013000 USD
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
1302000 USD
CY2016 us-gaap Net Income Loss
NetIncomeLoss
93221000 USD
CY2014Q4 us-gaap Noncurrent Assets
NoncurrentAssets
322011000 USD
CY2015Q4 us-gaap Noncurrent Assets
NoncurrentAssets
303952000 USD
CY2016Q4 us-gaap Noncurrent Assets
NoncurrentAssets
404693000 USD
CY2014 us-gaap Operating Income Loss
OperatingIncomeLoss
278748000 USD
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
71693000 USD
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
52579000 USD
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
64255000 USD
CY2015Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
60308000 USD
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
248835000 USD
CY2016Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
49343000 USD
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
45217000 USD
CY2016Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
22933000 USD
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-4634000 USD
CY2016 us-gaap Operating Income Loss
OperatingIncomeLoss
112859000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
3500000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
800000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
1600000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1800000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
2400000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
6700000 USD
CY2014 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
4200000 USD
CY2015 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
5100000 USD
CY2016 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
5000000 USD
CY2015Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
19484000 USD
CY2016Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
18116000 USD
CY2015Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
9701000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
15880000 USD
CY2014 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-30034000 USD
CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-51060000 USD
CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
-49141000 USD
CY2015Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
313000 USD
CY2016Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
1245000 USD
CY2014 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
190234000 USD
CY2015 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
75805000 USD
CY2016 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
24234000 USD
CY2014 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2015 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
CY2016 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
132443000 USD
CY2014 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
42549000 USD
CY2015 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
27079000 USD
CY2016 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
25763000 USD
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2015Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2016Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
54111000 USD
CY2016Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
39791000 USD
CY2014 us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
978000 USD
CY2015 us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
424000 USD
CY2016 us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
357000 USD
CY2014 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2849000 USD
CY2015 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2170000 USD
CY2016 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2206000 USD
CY2015Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
4414000 USD
CY2016Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
3853000 USD
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
567650000 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
617003000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
294251000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
323149000 USD
CY2014 us-gaap Restricted Stock Expense
RestrictedStockExpense
6300000 USD
CY2015 us-gaap Restricted Stock Expense
RestrictedStockExpense
7200000 USD
CY2016 us-gaap Restricted Stock Expense
RestrictedStockExpense
7200000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1425344000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1500988000 USD
CY2014 us-gaap Revenues
Revenues
930957000 USD
CY2015Q1 us-gaap Revenues
Revenues
226002000 USD
CY2015Q2 us-gaap Revenues
Revenues
215276000 USD
CY2015Q3 us-gaap Revenues
Revenues
201402000 USD
CY2015Q4 us-gaap Revenues
Revenues
201630000 USD
CY2015 us-gaap Revenues
Revenues
844310000 USD
CY2016Q1 us-gaap Revenues
Revenues
166561000 USD
CY2016Q2 us-gaap Revenues
Revenues
142439000 USD
CY2016Q3 us-gaap Revenues
Revenues
123640000 USD
CY2016Q4 us-gaap Revenues
Revenues
106091000 USD
CY2016 us-gaap Revenues
Revenues
538731000 USD
CY2014 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
773205000 USD
CY2015 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
685364000 USD
CY2016 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
433012000 USD
CY2014 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
157752000 USD
CY2015 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
158946000 USD
CY2016 us-gaap Sales Revenue Services Net
SalesRevenueServicesNet
105719000 USD
CY2014 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
92762000 USD
CY2015 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
88044000 USD
CY2016 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
53143000 USD
CY2014 us-gaap Share Based Compensation
ShareBasedCompensation
11856000 USD
CY2015 us-gaap Share Based Compensation
ShareBasedCompensation
13125000 USD
CY2016 us-gaap Share Based Compensation
ShareBasedCompensation
12217000 USD
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
351959 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
57.66
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2000000 USD
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
800000 USD
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1000000 USD
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
8813 shares
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2500000 USD
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
415122 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
351959 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
55.64
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
57.66
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
40.61
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
67.71
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.00
CY2016Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
2500000 USD
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y6M1D
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y6M1D
CY2016 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
54350 shares
CY2014 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2849000 USD
CY2015 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2170000 USD
CY2016 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2206000 USD
CY2014 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
2500000 USD
CY2015 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
1100000 USD
CY2016 us-gaap Stock Option Plan Expense
StockOptionPlanExpense
0 USD
CY2014 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
190000000 USD
CY2014 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
190234000 USD
CY2015 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
75805000 USD
CY2016 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
24234000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
1242018000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
1245192000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
1324458000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
1356424000 USD
CY2016 us-gaap Stockholders Equity Other
StockholdersEquityOther
62000 USD
CY2014 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
2023172000 shares
CY2015 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1184700000 shares
CY2016 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
400500000 shares
CY2015Q4 us-gaap Unbilled Receivables Not Billable At Balance Sheet Date Amount Expected To Be Collected Within One Year
UnbilledReceivablesNotBillableAtBalanceSheetDateAmountExpectedToBeCollectedWithinOneYear
70800000 USD
CY2016Q4 us-gaap Unbilled Receivables Not Billable At Balance Sheet Date Amount Expected To Be Collected Within One Year
UnbilledReceivablesNotBillableAtBalanceSheetDateAmountExpectedToBeCollectedWithinOneYear
56800000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
5700000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Acquisition
UnrecognizedTaxBenefitsIncreasesResultingFromAcquisition
2089000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
0 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
3628000 USD
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40190000 shares
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38531000 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37667000 shares
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39964000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38364000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37537000 shares
CY2016 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:16px;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Concentration of Credit Risk</font></div><div style="line-height:120%;padding-top:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Financial instruments which subject the Company to concentrations of credit risk primarily include trade receivables. The Company grants credit to its customers, which operate primarily in the oil and gas industry. The Company performs periodic credit evaluations of its customers&#8217; financial condition and generally does not require collateral. The Company maintains reserves for potential losses, and actual losses have historically been within management&#8217;s expectations.</font></div><div style="line-height:120%;padding-top:16px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In addition, the Company invests excess cash in interest bearing accounts, money market mutual funds and funds which invest in obligations of the U.S. Treasury and repurchase agreements backed by U.S. Treasury obligations. Changes in the financial markets and interest rates could affect the interest earned on short-term investments.</font></div></div>
CY2016 us-gaap Revenue Recognition Percentage Of Completion Method
RevenueRecognitionPercentageOfCompletionMethod
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenues recognized under the percentage-of-completion method</font></div><div style="line-height:120%;padding-top:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company uses the percentage-of-completion method on long-term project contracts that have the following characteristics:</font></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">the contracts call for products which are designed to customer specifications;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">the structural designs are unique and require significant engineering and manufacturing efforts generally requiring more than one year in duration;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">the contracts contain specific terms as to milestones, progress billings and delivery dates; and</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">product requirements cannot be filled directly from the Company&#8217;s standard inventory.</font></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For each project, the Company prepares a detailed analysis of estimated costs, profit margin, completion date and risk factors which include availability of material, production efficiencies and other factors that may impact the project. On a quarterly basis, management reviews the progress of each project, which may result in revisions of previous estimates, including revenue recognition. The Company calculates the percentage complete and applies the percentage to determine the revenues earned and the appropriate portion of total estimated costs. Losses, if any, are recorded in full in the period they become known. Historically, the Company&#8217;s estimates of total costs and costs to complete have approximated actual costs incurred to complete the project.</font></div><div style="line-height:120%;padding-top:16px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Under the percentage-of-completion method, billings may not correlate directly to the revenue recognized. Based upon the terms of the specific contract, billings may be in excess of the revenue recognized, in which case the amounts are included in customer prepayments as a liability on the Consolidated Balance Sheets. Likewise, revenue recognized may exceed customer billings in which case the amounts are reported in trade receivables. Unbilled revenues are expected to be billed and collected within one year. At </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;">, receivables included </font><font style="font-family:inherit;font-size:10pt;">$56.8 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$70.8 million</font><font style="font-family:inherit;font-size:10pt;"> of unbilled receivables, respectively. For the year ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, there were </font><font style="font-family:inherit;font-size:10pt;">10</font><font style="font-family:inherit;font-size:10pt;"> projects representing approximately </font><font style="font-family:inherit;font-size:10pt;">14%</font><font style="font-family:inherit;font-size:10pt;"> of the Company&#8217;s total revenues and approximately </font><font style="font-family:inherit;font-size:10pt;">17%</font><font style="font-family:inherit;font-size:10pt;"> of its product revenues, and </font><font style="font-family:inherit;font-size:10pt;">14</font><font style="font-family:inherit;font-size:10pt;"> projects during </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;"> representing approximately </font><font style="font-family:inherit;font-size:10pt;">16%</font><font style="font-family:inherit;font-size:10pt;"> of the Company&#8217;s total revenues and approximately </font><font style="font-family:inherit;font-size:10pt;">19%</font><font style="font-family:inherit;font-size:10pt;"> of its product revenues, which were accounted for using percentage-of-completion accounting.</font></div></div>
CY2016 us-gaap Revenue Recognition Sales Of Goods
RevenueRecognitionSalesOfGoods
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:16px;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue Recognition</font></div><div style="line-height:120%;padding-top:8px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Product revenues</font></div><div style="line-height:120%;padding-top:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company recognizes product revenues from </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> methods:</font></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">product revenues recognized under the percentage-of-completion method; and</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">product revenues from the sale of products that do not qualify for the percentage-of-completion method.</font></div></td></tr></table></div>
CY2016 us-gaap Revenue Recognition Sales Of Services
RevenueRecognitionSalesOfServices
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Service revenues</font></div><div style="line-height:120%;padding-top:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company earns service revenues from </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> sources:</font></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">technical advisory assistance;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">rental of running tools; and</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">rework and reconditioning of customer-owned Dril-Quip products.</font></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company does not install products for its customers, but it does provide technical advisory assistance. At the time of delivery of the product, the customer is not obligated to buy or rent the Company&#8217;s running tools and the Company is not obligated to perform any subsequent services relating to installation. Technical advisory assistance service revenue is recorded at the time the service is rendered. Service revenues associated with the rental of running and installation tools are recorded as earned. Rework and reconditioning service revenues are recorded when the refurbishment process is complete.</font></div><div style="line-height:120%;padding-top:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company normally negotiates contracts for products, including those accounted for under the percentage-of-completion method, and services separately. For all product sales, it is the customer&#8217;s decision as to the timing of the product installation as well as whether Dril-Quip running tools will be purchased or rented. Furthermore, the customer is under no obligation to utilize the Company&#8217;s technical advisory assistance services. The customer may use a third party or their own personnel.</font></div></div>
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:16px;text-indent:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Use of Estimates</font></div><div style="line-height:120%;padding-top:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Some of the Company&#8217;s more significant estimates are those affected by critical accounting policies for revenue recognition, inventories and contingent liabilities.</font></div></div>

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