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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2017	Feb. 26, 2018	Jun. 30, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	DRIL-QUIP INC
Entity Central Index Key	0001042893
Trading Symbol	DRQ
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding (in shares)		38,136,258
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 1,832,300,000

CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues:
Products	$ 351,132,000	$ 433,012,000	$ 685,364,000
Services	104,337,000	105,719,000	158,946,000
Total revenues	455,469,000	538,731,000	844,310,000
Cost of sales:
Products	246,005,000	268,405,000	382,925,000
Services	59,389,000	59,999,000	76,361,000
Total cost of sales	305,394,000	328,404,000	459,286,000
Selling, general and administrative	116,083,000	53,143,000	88,044,000
Engineering and product development	42,160,000	44,325,000	48,145,000
Impairment and other charges	60,968,000	0	0
Total costs and expenses	524,605,000	425,872,000	595,475,000
Operating income (loss)	(69,136,000)	112,859,000	248,835,000
Interest income	3,564,000	3,037,000	948,000
Interest expense	(72,000)	(28,000)	(12,000)
Income (loss) before taxes	(65,644,000)	115,868,000	249,771,000
Income tax (benefit) provision	34,995,000	22,647,000	57,763,000
Net income (loss)	$ (100,639,000)	$ 93,221,000	$ 192,008,000
Earnings per common share:
Basic (in dollars per share)	$ (2.69)	$ 2.48	$ 5.00
Diluted (in dollars per share)	$ (2.69)	$ 2.47	$ 4.98
Weighted average common shares outstanding:
Basic (in shares)	37,457,413	37,537,000	38,364,000
Diluted (in shares)	37,457,413	37,667,000	38,531,000

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (71,492)	$ (29,260)	$ 15	$ 94	$ 1,302	$ 19,013	$ 36,137	$ 36,769	$ (100,639)	$ 93,221	$ 192,008
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments									24,117	(49,141)	(51,060)
Total comprehensive income (loss)									$ (76,522)	$ 44,080	$ 140,948

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 493,180	$ 423,497
Trade receivables, net	191,629	213,513
Inventories, net	291,087	355,413
Deferred income taxes	0	24,497
Prepaids and other current assets	32,653	39,791
Total current assets	1,008,549	1,056,711
Property, plant and equipment, net	284,247	323,149
Deferred income taxes	5,364	1,699
Goodwill	47,624	34,371
Intangible assets	38,408	29,594
Other assets	15,613	15,880
Total assets	1,399,805	1,461,404
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	33,480	36,108
Accrued income taxes	24,714	24,543
Customer prepayments	4,767	11,884
Accrued compensation	11,412	10,829
Other accrued liabilities	25,538	18,116
Total current liabilities	99,911	101,480
Deferred income taxes	3,432	3,500
Other long-term liabilities	2,001	0
Total liabilities	105,344	104,980
Commitments and contingencies (Note 13)
Stockholders' equity:
Preferred stock: 10,000,000 shares authorized at $0.01 par value (none issued)	0	0
Common stock:
100,000,000 shares authorized at $0.01 par value at December 31, 2017 and 2016, 38,132,693 and 37,797,317 issued and outstanding at December 31, 2017 and 2016	372	375
Additional paid-in capital	20,083	5,468
Retained earnings	1,400,296	1,500,988
Accumulated other comprehensive losses	(126,290)	(150,407)
Total stockholders' equity	1,294,461	1,356,424
Total liabilities and stockholders' equity	$ 1,399,805	$ 1,461,404

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	38,132,693	37,797,317
Common stock, shares outstanding (in shares)	38,132,693	37,797,317

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating activities
Net income (loss)	$ (100,639)	$ 93,221	$ 192,008
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	40,974	31,857	30,477
Stock-based compensation expense	14,270	12,217	13,125
Impairment and other non-cash charges	60,968	0	0
Loss (gain) on sale of equipment	(168)	(103)	69
Deferred income taxes	17,231	(3,400)	(3,465)
Changes in operating assets and liabilities:
Trade receivables, net	26,112	106,544	36,729
Inventories, net	37,642	7,873	28,539
Prepaids and other assets	10,107	9,816	(17,883)
Excess tax benefits of stock options and awards	0	(135)	(70)
Accounts payable and accrued expenses	1,765	(11,368)	(89,374)
Other, net	(269)	0	0
Net cash provided by operating activities	107,993	246,522	190,155
Investing activities
Purchase of property, plant and equipment	(27,622)	(25,763)	(27,079)
Proceeds from sale of equipment	3,170	357	424
Acquisition of business, net of cash acquired	(20,440)	(132,443)	0
Net cash used in investing activities	(44,892)	(157,849)	(26,655)
Financing activities
Proceeds from exercise of stock options	560	2,206	2,170
Excess tax benefits of stock options and awards	0	135	70
Repurchase of common shares	0	(24,234)	(75,805)
Net cash used in financing activities	560	(21,893)	(73,565)
Effect of exchange rate changes on cash activities	6,022	(24,619)	(7,304)
Increase (decrease) in cash and cash equivalents	69,683	42,161	82,631
Cash and cash equivalents at beginning of year	423,497	381,336	298,705
Cash and cash equivalents at end of year	$ 493,180	$ 423,497	$ 381,336

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning Balance at Dec. 31, 2014	$ 1,245,192	$ 388	$ 16,480	$ 1,278,528	$ (50,204)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	(51,060)				(51,060)
Net income (loss)	192,008			192,008
Comprehensive income	140,948
Options exercised and awards vested	2,170	0	2,170
Stock option expense	13,125		13,125
Excess tax benefits - stock options and awards	(1,172)		(1,172)
Repurchase of common stock	(75,805)	(10)	(30,603)	(45,192)
Ending Balance at Dec. 31, 2015	1,324,458	378	0	1,425,344	(101,264)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	(49,141)				(49,141)
Net income (loss)	93,221			93,221
Comprehensive income	44,080
Options exercised and awards vested	2,206	1	2,205
Stock option expense	12,217		12,217
Excess tax benefits - stock options and awards	(2,241)		(2,241)
Repurchase of common stock	(24,234)	(4)	(6,713)	(17,517)
Other	(62)	0	0	(60)	(2)
Ending Balance at Dec. 31, 2016	1,356,424	375	5,468	1,500,988	(150,407)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation adjustment	24,117			0	24,117
Net income (loss)	(100,639)			(100,639)
Comprehensive income	(76,522)
Options exercised and awards vested	560		560
Stock option expense	14,270	0	14,270	0	0
Other	(271)	(3)	(215)	(53)	0
Ending Balance at Dec. 31, 2017	$ 1,294,461	$ 372	$ 20,083	$ 1,400,296	$ (126,290)

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Stockholders' Equity [Abstract]
Options exercised and awards vested in shares (in shares)	208,613,000	163,547,000	168,268,000
Treasury stock shares (in shares)		400,500,000	1,184,700,000

Organization	12 Months Ended
Organization	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Dril-Quip, Inc., a Delaware corporation (the “Company” or “Dril-Quip”), designs, manufactures, sells and services highly engineered drilling and production equipment that is well suited primarily for use in deepwater, harsh environment and severe service applications. The Company’s principal products consist of subsea and surface wellheads, subsea and surface production trees, subsea control systems and manifolds, mudline hanger systems, specialty connectors and associated pipe, drilling and production riser systems, liner hangers, wellhead connectors, diverters and safety valves. Dril-Quip’s products are used by major integrated, large independent and foreign national oil and gas companies and drilling contractors throughout the world. Dril-Quip also provides technical advisory assistance on an as-requested basis during installation of its products, as well as rework and reconditioning services for customer-owned Dril-Quip products. In addition, Dril-Quip’s customers may rent or purchase running tools from the Company for use in the installation and retrieval of the Company’s products. The Company’s operations are organized into three geographic segments—Western Hemisphere (including North and South America; headquartered in Houston, Texas), Eastern Hemisphere (including Europe and Africa; headquartered in Aberdeen, Scotland) and Asia Pacific (including the Pacific Rim, Southeast Asia, Australia, India and the Middle East; headquartered in Singapore). Each of these segments sells similar products and services and the Company has major manufacturing facilities in all three of its regional headquarter locations as well as in Macae, Brazil. The Company’s major subsidiaries are Dril-Quip (Europe) Limited, located in Aberdeen with branches in Denmark, Norway and Holland; Dril-Quip Asia Pacific PTE Ltd., located in Singapore; and Dril-Quip do Brasil LTDA, located in Macae, Brazil. Other operating subsidiaries include TIW Corporation (TIW), located in Houston, Texas; DQ Holdings Pty. Ltd., located in Perth, Australia. Other subsidiaries include Dril-Quip (Ghana) Ltd., located in Takoradi, Ghana; PT DQ Oilfield Services Indonesia, located in Jakarta, Indonesia; Dril-Quip (Nigeria) Ltd., located in Port Harcourt, Nigeria; Dril-Quip Egypt for Petroleum Services S.A.E., located in Alexandria, Egypt; Dril-Quip Oilfield Services (Tianjin) Co. Ltd., located in Tianjin, China, with branches in Shezhen and Beijing, China; and Dril-Quip Qatar LLC, located in Doha, Qatar; TIW de Mexico S.A. de C.V., located in Villahermosa, Mexico; TIW de Venezuela S.A., located in Anaco, Venezuela and with a registered branch located in Shushufindi, Ecuador; TIW (UK) Limited, located in Aberdeen, Scotland; TIW Hungary LLC, located in Szolnok, Hungary; and TIW International, LLC., with a registered branch located in Singapore. On November 10, 2016, the Company acquired TIW, a Texas corporation, located in Houston, Texas, and all of its subsidiaries. TIW manufactures consumable downhole products for the onshore and offshore global oil and gas market. For a listing of all of Dril-Quip's subsidiaries, please see Exhibit 21.1 to this report. On January 6, 2017, the Company acquired The Technologies Alliance Inc. d/b/a OilPatch Technologies (OPT) for approximately $20.0 million, which was integrated into the Company's existing Western Hemisphere operations.

Significant Accounting Policies

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Significant Accounting Policies

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its subsidiaries. All material intercompany accounts and transactions have been eliminated.

Use of Estimates

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’s more significant estimates are those affected by critical accounting policies for revenue recognition, inventories and contingent liabilities.

Cash and Cash Equivalents

Short-term investments that have a maturity of three months or less from the date of purchase are classified as cash equivalents. The Company invests excess cash in interest bearing accounts, money market mutual funds and funds which invest in U.S. Treasury obligations and repurchase agreements backed by U.S. Treasury obligations. The Company’s investment objectives continue to be the preservation of capital and the maintenance of liquidity.

Trade Receivables

The Company maintains an allowance for doubtful accounts on trade receivables equal to amounts estimated to be uncollectible. This estimate is based upon historical collection experience combined with a specific review of each customer’s outstanding trade receivable balance. Management believes that the allowance for doubtful accounts is adequate; however, actual write-offs may exceed the recorded allowance.

Inventories

Inventory costs are determined principally by the use of the first-in, first-out (FIFO) costing method and are stated at the lower of cost or market. Company manufactured inventory is valued principally using standard costs, which are calculated based upon direct costs incurred and overhead allocations and approximate actual costs. Inventory purchased from third-party vendors is principally valued at the weighted average cost. Periodically, obsolescence reviews are performed on slow-moving inventories and reserves are established based on current assessments about future demands and market conditions. The inventory values have been reduced by a reserve for excess and slow-moving inventories. Inventory reserves of $83.5 million and $45.6 million were recorded as of December 31, 2017 and 2016, respectively. If market conditions are less favorable than those projected by management, additional inventory reserves may be required.

Inventories acquired from TIW and OPT as of November 10, 2016 and January 6, 2017, respectively, have been recorded at provisional fair values. For additional information, see Note 4, Business Acquisitions.

Property, Plant and Equipment

Property, plant and equipment are carried at cost, with depreciation provided on a straight-line basis over their estimated useful lives. We capitalize costs incurred to enhance, improve and extend the useful lives of our property and equipment and expense costs incurred to repair and maintain the existing condition of our assets.

Property, plant and equipment acquired from TIW and OPT as of November 10, 2016 and January 6, 2017, respectively, have been recorded at provisional fair values. For additional information, see Note 4, Business Acquisitions.

Goodwill

Goodwill consists of the excess of the acquisition costs over the fair value of net assets acquired in business combinations. Goodwill is reviewed for impairment annually in the fourth quarter of each year and when events or changes in circumstances indicate that the carrying amount may be impaired. For this purpose, goodwill is evaluated at the reporting unit level. Dril-Quip recorded goodwill related to the acquisition of TIW and OPT. For further information regarding goodwill, see Note 8, Goodwill.

Intangible Assets

Definite-lived intangible assets consist of patents and customer relationships. Dril-Quip recognizes amortization expense for definite-lived intangible assets on a straight-line basis over the estimated useful lives. Indefinite-lived intangible assets consist of trademarks, specifically trade names acquired as part of the acquisition of TIW. Indefinite-lived intangible assets are stated at cost and are not amortized; instead, they are tested for impairment at least annually. The Company reviews acquired trademarks for impairment in the fourth quarter of each year and when events or changes in circumstances indicate that the assets may be impaired. The fair value of trademarks is estimated using the relief from royalty method to estimate the value of the cost savings and a discounted cash flows method to estimate the value of future income. The sum of these two values for each trademark is the fair value of the trademark. If the carrying amount of trademarks exceeds the estimated fair value, the impairment is calculated as the excess of carrying amount over the estimate of fair value. For additional information regarding other assets, see Note 9, Intangible Assets.

Impairment of Long-Lived Assets

Long-lived assets, including property, plant and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the carrying amount of an asset exceeds the estimated undiscounted future cash flows expected to be generated by the asset, an impairment charge is recognized by reflecting the asset at its fair value. We review the recoverability of the carrying value of our assets based upon estimated future cash flows while taking into consideration assumptions and estimates, including the future use of the asset, remaining useful life of the asset and service potential of the asset. Additionally, inventories are valued at the lower of cost or market.

In connection with our preparation and review of financial statements for the quarter ended September 30, 2017, after considering current Brent crude (Brent) consensus forecasts and expected rig counts for the foreseeable future, we determined the carrying amount of certain of our long-lived assets in the Western Hemisphere exceeded their respective fair values due to projected declines in asset utilization, and that the cost of some of our worldwide inventory exceeded its market value. As a result, we recorded corresponding impairments and other charges. Primarily as a result of the factors described above, we recorded charges of approximately $33.6 million related to inventory and $27.4 million related to fixed assets. No additional impairments were recorded during the three months ended December 31, 2017. Additionally, no impairments of long-lived assets were recorded in 2016 or 2015.

Income Taxes

The Company accounts for income taxes using the asset and liability method. Current income taxes are provided on income reported for financial statement purposes, adjusted for transactions that do not enter into the computation of income taxes payable in the same year. Deferred tax assets and liabilities are measured using enacted tax rates for the expected future tax consequences of temporary differences between the carrying amounts and the tax basis of assets and liabilities. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred income tax assets to the amounts that are expected more likely than not to be realized in the future. The Company classifies interest and penalties related to uncertain tax positions as income taxes in its financial statements.

In view of the recent enactment of US Tax Reform, the Company recorded estimated provisional reserves to account for the re-measurement of deferred tax assets due to the corporate tax rate change from 35% to 21% and the impact of the one-time transition tax for unremitted foreign earnings.

Revenue Recognition

Product revenues

The Company recognizes product revenues from two methods:


•	product revenues recognized under the percentage-of-completion method; and


•	product revenues from the sale of products that do not qualify for the percentage-of-completion method.

Revenues recognized under the percentage-of-completion method

The Company uses the percentage-of-completion method on long-term project contracts that have the following characteristics:


•	the contracts call for products which are designed to customer specifications;


•	the structural designs are unique and require significant engineering and manufacturing efforts generally requiring more than one year in duration;


•	the contracts contain specific terms as to milestones, progress billings and delivery dates; and


•	product requirements cannot be filled directly from the Company’s standard inventory.

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’s estimates of total costs and costs to complete have approximated actual costs incurred to complete the project.

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 December 31, 2017 and 2016, receivables included $41.0 million and $56.8 million of unbilled receivables, respectively. For the year ended December 31, 2017, there were eight projects representing approximately 13% of the Company’s total revenues and approximately 16% of its product revenues, and 10 projects during 2016 representing approximately 14% of the Company’s total revenues and approximately 17% of its product revenues, which were accounted for using percentage-of-completion accounting.

Revenues not recognized under the percentage-of-completion method

Revenues from the sale of inventory products, not accounted for under the percentage-of-completion method, are recorded at the time the manufacturing processes are complete and ownership is transferred to the customer.

Service revenues

The Company earns service revenues from three sources:


•	technical advisory assistance;


•	rental of running tools; and


•	rework and reconditioning of customer-owned Dril-Quip products.

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’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.

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’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’s technical advisory assistance services. The customer may use a third party or their own personnel.

Foreign Currency

The financial statements of foreign subsidiaries are translated into U.S. dollars at period-end exchange rates except for revenues and expenses, which are translated at average monthly rates. Translation adjustments are reflected as a separate component of stockholders’ equity and have no effect on current earnings or cash flows.

Foreign currency exchange transactions are recorded using the exchange rate at the date of the settlement. The Company experienced exchange losses (gains) of approximately $12.7 million, $(25.6) million and $(3.9) million in 2017, 2016 and 2015, respectively, net of income taxes. These amounts are included in selling, general and administrative costs in the Consolidated Statements of Income on a pre-tax basis.

Fair Value of Financial Instruments

The Company’s financial instruments consist primarily of cash and cash equivalents, receivables and payables. The carrying values of these financial instruments approximate their respective fair values as they are short-term in nature.

Concentration of Credit Risk

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’ financial condition and generally does not require collateral. The Company maintains reserves for potential losses, and actual losses have historically been within management’s expectations.

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.

Earnings Per Share

Basic earnings per common share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per common share is computed considering the dilutive effect of stock options and awards using the treasury stock method.

New Accounting Standards

12 Months Ended

Dec. 31, 2017

Accounting Changes and Error Corrections [Abstract]

New Accounting Standards

In September 2017, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2017-13, "Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606), Leases (Topic 840), and Leases (Topic 842)". This update clarifies the definition of a public business entity for the application of the new revenue recognition and leasing standards. This update did not have an impact on our assessment of these standards, discussed below in connection with ASU 2014-09, and will not impact our implementation strategies. The revenue standard is effective for annual periods beginning after December 15, 2017, including interim periods within those fiscal years, and the leasing standard is effective for annual periods beginning after December 15, 2018, including interim periods within those fiscal years.

In May 2017, the FASB issued ASU 2017-09, "Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting." This update clarifies which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic 718. For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company did not identify any modifications to its existing awards and therefore has concluded that there is no impact to its consolidated financial statements.

In January 2017, the FASB issued ASU 2017-04, “Intangibles - Goodwill and Other (Topic 350).” The standard simplifies the subsequent measurement of goodwill by removing the second step of the two-step impairment test. The amendment requires an entity to perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit's fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The amendment should be applied on a prospective basis. The standard is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company has adopted this standard as of October 1, 2017.

In January 2017, the FASB issued ASU 2017-01, “Business Combinations: Clarifying the Definition of a Business (Topic 805).” This update clarifies the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company has adopted this standard as of December 31, 2017.

In March 2016, the FASB issued ASU 2016-09 “Improvements to Employee Share-Based Payment Accounting (Topic 718).” The standard simplifies several aspects of accounting for share-based payment transactions, including the accounting for income taxes, forfeitures and statutory withholding requirements, as well as classification in the statement of cash flows. The standard is effective for annual periods beginning after December 15, 2016, including interim periods within those fiscal years. The Company adopted this standard as of January 1, 2017. The primary impact of this standard is the income tax effects of awards recognized when the awards are vested or settled is now reflected in the statement of cash flows as part of net income from operating activities.

In February 2016, the FASB issued ASU 2016-02 “Leases (Topic 842).” The new standard requires lessees to recognize lease assets (right of use) and lease obligations (lease liability) for leases previously classified as operating leases under generally accepted accounting principles on the balance sheet for leases with terms in excess of 12 months. The standard is effective for annual periods beginning after December 15, 2018, including interim periods within those fiscal years. The Company is in the process of assessing its contractual commitments and arrangements with respect to the required presentation and disclosure under the new lease standard and its impact. Remaining implementation matters include completing the gap analysis between current requirements and the new leasing standard, establishing new policies, procedures and controls and quantifying any adjustments upon adoption.

In November 2015, the FASB issued ASU 2015-17 “Income Taxes (Topic 740)." The new standard requires that deferred tax assets and liabilities be classified as noncurrent on a classified balance sheet. The Company adopted this standard in the first quarter of 2017 on a prospective basis.

In May 2014, the FASB issued ASU 2014-09 “Revenue from Contracts with Customers (Topic 606)", herein referred to as the "New Standard." The amendment applies a new five-step revenue recognition model to be used in recognizing revenues associated with customer contracts. The amendment requires disclosure sufficient to enable readers of financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures, significant judgments and changes in judgments and assets recognized from the costs to obtain or fulfill the contract. The standard’s effective date was originally for fiscal years beginning after December 15, 2016, including interim periods within that reporting period. On April 1, 2015, the FASB voted to defer the effective date by one year to December 15, 2017 and interim periods within annual reporting periods beginning after December 15, 2017. The new revenue standard permits companies to either apply the requirements retrospectively to all prior periods presented or apply the requirements in the year of adoption through a cumulative adjustment. The Company has engaged a third-party expert to review our significant revenue streams and identify the required changes to our revenue recognition policies. Based on our existing customer contracts and relationships, we do not expect the implementation of the new guidance to have a material impact on our consolidated financial statements upon adoption. The Company’s evaluation of the impact could change if we enter into new revenue arrangements in the future or interpretations of the new guidance further evolve.

While not expected to be material, the more significant changes to the Company’s revenue recognition policies are in the following areas:

•

Products: Revenues for products sold in Brazil not under the percentage-of-completion method are primarily recognized upon receipt of approval to invoice the customer due to formal customer acceptance procedures. Under the New Standard, the Company assessed the customer acceptance procedures and determined that Dril-Quip and the customer can objectively determine that the agreed-upon specifications of the product have been met and control transfers to the customer upon delivery of the product. As a result, under the New Standard, revenue is recognized at a point in time upon transfer of control of the product.


•	Services:

◦

Technical Advisory - Similar to products, revenues for technical advisory services provided in Brazil are currently recognized upon receipt of approval to invoice due to formal customer acceptance procedures. Under the New Standard, the Company assessed the customer acceptance procedures and determined that Dril-Quip and the customer can objectively determine that the agreed-upon specifications of the services have been met and control transfers to the customer as the services are provided. As a result, revenue under the New Standard is recognized over time as the services are being performed.

◦

Rework and reconditioning -Revenues for rework and reconditioning services provided in Brazil are currently recognized upon receipt of approval to invoice due to formal customer acceptance procedures. Under the New Standard, the Company assessed the customer acceptance procedures and determined that Dril-Quip and the customer can objectively determine that the agreed-upon specifications of the services have been met and control transfers to the customer as the services are provided. As a result, revenue under the New Standard is recognized over time as the services are being performed.

Revenues for rework and reconditioning services are primarily recognized at a point in time upon completion of the services. Under the New Standard, revenue from such services is expected to be recognized over time as the services are provided and control is transferred to the customer.


•	Fines and liquidated damages are currently expensed when incurred. Under the New Standard, fines and liquidated damages are estimated at contract inception and at each subsequent reporting period and the total transaction price is reduced accordingly (i.e. impacts revenue instead of expense).

•

The Company uses local agents in certain countries and may pay the local agents a commission related to individual contracts. Currently, these commissions are expensed as incurred. However, under the New Standard, in situations in which the local agent is determined to be the principal in the relationship (i.e. they are the customer), the commission is consideration payable to a customer, and therefore reduces the total transaction price (i.e. impacts revenue instead of expense). In situations in which the local agent is determined not to be the principal in the relationship, the commission will be assessed to determine if it is a cost to obtain a contract and will be capitalized accordingly.

We are continuing our assessment of potential changes to our disclosures under the New Standard. The Company currently expects to adopt the standard using the modified retrospective method, which requires us to report revenue under the New Standard for 2018 and future periods, and recognize a cumulative effect adjustment in retained earnings for differences resulting from application of the New Standard to contracts that were not substantially complete at January 1, 2018. We have considered the new expanded disclosures associated with the new revenue standard for the first quarter of 2018. We will provide additional disclosures regarding any material differences in reported financial statement line items in 2018 when compared to the amounts what would have been reported under legacy accounting guidance.

Business Acquisitions

12 Months Ended

Dec. 31, 2017

Business Combinations [Abstract]

Business Acquisitions

TIW Acquisition

On October 14, 2016, the Company entered into an agreement with Pearce Industries, Inc. to acquire all the outstanding common stock, par value $100.00 per share, of TIW for a cash purchase price of $142.7 million, which was subject to customary adjustments for cash and working capital. The acquisition closed on November 10, 2016 and is expected to strengthen the Company's liner hanger sales and increase market share. Additionally, the acquisition of TIW gave Dril-Quip a presence in the onshore oil and gas market.

Total acquisition costs through December 31, 2017 in connection with the purchase of TIW were $2.5 million and were expensed in general and administrative costs.

Purchase Price Allocation

Acquired assets and liabilities were recorded at estimated fair value as of the acquisition date. The excess of the purchase price over the estimated fair value of tangible and intangible identifiable net assets resulted in the recognition of goodwill of $33.5 million, the majority of which is included in long-lived assets in the Western Hemisphere and is attributable to expected synergies from combining operations as well as intangible assets which do not qualify for separate recognition. The amount of goodwill that is deductible for income tax purposes is not significant.

The goodwill was determined on the basis of the fair values of the tangible and intangible assets and liabilities as of the acquisition date. It may be adjusted if the fair values change as a result of circumstances existing at the acquisition date. Such fair value adjustments may arise in respect to intangible assets, inventories and property, plant and equipment, upon completion of the necessary valuations and physical verifications of such assets. The amount of deferred taxes may also be adjusted during the measurement period. For further information regarding goodwill, see Note 8, Goodwill.

The following table sets forth the purchase price allocation, which was based on fair value of assets acquired and liabilities assumed at the acquisition date, November 10, 2016:



	Valuation at November 10, 2016
	(In thousands)
Cash	$	1,829
Trade receivables	9,794
Inventories	29,896
Prepaid and other current assets	3,572
Deferred income taxes	205
Property, plant and equipment	38,058
Intangible assets ⁽¹⁾	29,808
Total assets acquired	113,162

Accounts payable	10,325
Customer prepayments	2,757
Other accrued liabilities	2,644
Deferred tax liabilities, non-current	2,261
Total liabilities assumed	17,987

Net identifiable assets acquired	95,175
Goodwill	33,522
Net assets acquired	$	128,697

^{(1) Includes}^{$3.0 million}^{of patents with a weighted average useful life of}^{10 years}^,^{$8.4 million}^{of tradenames with an}^{indefinite life}^and^{$18.1 million}^{of customer relationships with a weighted average useful life of}^{15 years}^{. See Note}⁹^{, Intangible Assets, for further information regarding intangible assets.}

Summary of Unaudited Pro Forma Information

TIW's results of operations have been included in Dril-Quip's financial statements for the period subsequent to the closing of the acquisition on November 10, 2016. Business acquired from TIW contributed revenues of $49.4 million, a pre-tax operating loss of $15.5 million and a net loss of $15.9 million for the year ended December 31, 2017.

The following table reflects the unaudited pro forma consolidated results of operations for the periods presented, as though the acquisition of TIW had occurred on January 1, 2015:



	Year Ended December 31,
	2016		2015
	(In thousands, except per share data)
	(Unaudited)
Revenues	$	595,797	$	943,714
Net income	$	84,756	$	193,310
Basic earnings per share	$	2.26	$	5.04
Diluted earnings per share	$	2.25	$	5.02

The unaudited pro forma financial information is presented for illustrative purposes only and is not indicative of the results of operations that would have been realized if the acquisition had been completed on the date indicated, nor is it indicative of future operating results. The pro forma results do not include, for example, the effects of anticipated synergies from the acquisition. As a result of the full consolidation of TIW, we will no longer communicate the results of TIW net income beginning in 2018.

OPT

On January 6, 2017, the Company acquired OPT for approximately $20.0 million, which was subject to customary adjustments for cash and working capital. The acquisition was accounted for as a business combination in accordance with ASC 805. The purchase price was subject to closing adjustments and was funded with cash on hand. The acquisition does not have a material impact on the Company's Consolidated Balance Sheets. OPT's results of operations for the periods prior to this acquisition were not material to the Company's Consolidated Statements of Operations.

Inventories, net

12 Months Ended

Dec. 31, 2017

Inventory Disclosure [Abstract]

Inventories, net

Inventories consist of the following:



	December 31,
	2017			2016
	(In thousands)
Raw materials and supplies	$	70,188		$	85,684
Work in progress	65,382			81,645
Finished goods	239,083			233,732
	374,653			401,061
Less: allowance for obsolete and excess inventory (see Note 7)	(83,566		)	(45,648		)
Total inventory	$	291,087		$	355,413

Property, Plant and Equipment, net

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, net

Property, plant and equipment consists of:



	Estimated Useful Lives	December 31,
	Estimated Useful Lives	2017			2016
		(In thousands)
Land improvements	10-25 years	$	7,485		$	8,585
Buildings	15-40 years	183,437			191,485
Machinery, equipment and other	3-10 years	361,959			370,578
		552,881			570,649
Less accumulated depreciation		(315,091		)	(293,854		)
		237,790			276,795
Land		13,464			12,120
Construction work in process		32,993			34,234
Total property, plant and equipment		$	284,247		$	323,149

Depreciation expense totaled $38.6 million, $31.6 million and $30.5 million for 2017, 2016 and 2015, respectively.

Goodwill

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The changes in the carrying amount of goodwill by reporting unit during the year ended December 31, 2017 were as follows:



	Carrying Value									Carrying Value
	January 1, 2017		Acquisitions		Foreign Currency Translation		Purchase Price Adjustments			December 31, 2017
	(In thousands)
Western Hemisphere	$	26,632	$	12,788	$	587	$	(849	)	$	39,158
Eastern Hemisphere	7,739		—		727		—			8,466
Asia Pacific	—		—		—		—			—
Total	$	34,371	$	12,788	$	1,314	$	(849	)	$	47,624

At October 1, 2017, the Company performed its annual impairment test on each of its reporting units and concluded that there had been no impairment because the estimated fair values of each of those reporting units exceeded its carrying value. Relevant events and circumstances that could have a negative impact on goodwill include: macroeconomic conditions; industry and market conditions, such as commodity prices; operating cost factors; overall financial performance; the impact of dispositions and acquisitions; and other entity-specific events. Further declines in commodity prices or sustained lower valuation for the Company's common stock could indicate a reduction in the estimate of reporting unit fair value which, in turn, could lead to an impairment of reporting unit goodwill.

The fair values were determined using the net present value of the expected future cash flows for each reporting unit. During the Company’s goodwill impairment analysis, the Company determined the fair value of each of its reporting units as a whole using discounted cash flow analysis, which requires significant assumptions and estimates about the future operations of each reporting unit. The assumptions about future cash flows and growth rates are based on our current budget for 2018 and for future periods, as well as our strategic plans and management’s beliefs about future activity levels. The discount rate we used for future periods could change substantially if the cost of debt or equity were to significantly increase or decrease, or if we were to choose different comparable companies in determining the appropriate discount rate for our reporting units. Forecasted cash flows in future periods were estimated using a terminal value calculation, which considered long-term earnings growth rates. There was no impairment of goodwill during the years ended December 31, 2017 and 2016.

Impairments and Other Charges	12 Months Ended
Impairments and Other Charges	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Impairments and Other Charges	Impairments and Other Charges We carry a variety of long-lived assets on our balance sheet, including property, plant and equipment, goodwill and other intangibles. We conduct impairment tests on long-lived assets if events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. We review the recoverability of the carrying value of our assets based upon estimated future cash flows while taking into consideration assumptions and estimates including the future use of the asset, remaining useful life of the asset and service potential of the asset. Additionally, inventories are valued at the lower of cost or net realizable value. In connection with our preparation and review of financial statements for the quarter ended September 30, 2017, after considering current Brent crude (Brent) consensus forecasts and expected rig counts for the foreseeable future, we determined the carrying amount of certain of our long-lived assets in the Western Hemisphere exceeded their respective fair values due to projected declines in asset utilization, and that the cost of some of our worldwide inventory exceeded its market value. As a result, we recorded corresponding impairments and other charges. Primarily as a result of the factors described above, we recorded charges of approximately $33.6 million related to inventory and $27.4 million related to fixed assets during the three and nine months ended September 30, 2017. We updated our evaluation as of December 31, 2017, and did not require any further adjustment.

Intangible Assets

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible assets, the majority of which were acquired in the acquisition of TIW and OPT, consist of the following:



	Estimated Useful Lives	2017
	Estimated Useful Lives	Gross Book Value		Accumulated Amortization			Foreign Currency Translation			Net Book Value
		(In thousands)
Trademarks	indefinite	$	8,416	$	—		$	56		$	8,472
Patents	15 - 30 years	5,946		(968		)	80			5,058
Customer relationships	5 - 15 years	26,503		(1,675		)	(64		)	24,764
Non-compete agreements	3 years	171		(57		)	—			114
		$	41,036	$	(2,700	)	$	72		$	38,408



	Estimated Useful Lives	2016
	Estimated Useful Lives	Gross Book Value		Accumulated Amortization			Foreign Currency Translation		Net Book Value
		(In thousands)
Trademarks	indefinite	$	8,416	$	—		$	—	$	8,416
Patents	15 - 30 years	3,583		(294		)	—		3,289
Customer relationships	5 - 15 years	18,057		(168		)	—		17,889
		$	30,056	$	(462	)	$	—	$	29,594

At October 1, 2017, the Company performed its annual impairment test on its indefinite and definite-lived intangible assets and concluded that there had been no impairment because the estimated fair values of each of those intangible assets exceeded its carrying value. Relevant events and circumstances that could have a negative impact on intangible assets include: macroeconomic conditions; industry and market conditions, such as commodity prices; operating cost factors; overall financial performance; the impact of dispositions and acquisitions; and other entity-specific events. Further declines in commodity prices or sustained lower valuation for the Company's common stock could indicate a reduction in the estimate of the intangible assets' fair value which, in turn, could lead to an impairment of the intangible asset.

Amortization expense was $2.4 million, $0.2 million and none for 2017, 2016 and 2015, respectively. Based on the carrying value of intangible assets at December 31, 2017, amortization expense for the subsequent five years is estimated to be as follows: 2018—$2.2 million; 2019—$2.2 million; 2020—$2.1 million; 2021—$2.1 million; and 2022—$2.1 million.

Income Taxes

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Income Taxes

Income (loss) before income taxes consisted of the following:



	Year Ended December 31,
	2017			2016		2015
	(In thousands)
Domestic	$	(84,278	)	$	33,543	$	107,158
Foreign	18,634			82,325		142,613
Total	$	(65,644	)	$	115,868	$	249,771

The income tax provision (benefit) consists of the following:



	Year Ended December 31,
	2017			2016			2015
	(In thousands)
Current:
Federal	$	20,435		$	8,461		$	33,017
Foreign	(2,671		)	15,246			28,229
Total current	17,764			23,707			61,246
Deferred:
Federal	20,592			1,121			(1,611		)
Foreign	(3,361		)	(2,181		)	(1,872		)
Total deferred	17,231			(1,060		)	(3,483		)
Total	$	34,995		$	22,647		$	57,763

The difference between the effective income tax rate reflected in the provision for income taxes and the U.S. federal statutory rate was as follows:



	Year Ended December 31,
	2017		2016		2015
Federal income tax statutory rate	35.0	%	35.0	%	35.0	%
Foreign income tax rate differential	2.4		(11.7	)	(7.3	)
Foreign development tax incentive	1.8		(0.9	)	(1.3	)
Manufacturing benefit	—		(1.1	)	(1.4	)
Foreign intellectual property tax benefit	16.1		(1.0	)	(0.8	)
Tax Cuts and Jobs Act (TCJA) Transition Tax	(49.7	)	—		—
Deferred tax rate change	(20.7	)	—		—
Change in valuation allowance	(35.6	)	—		—
Other	(2.6	)	(0.8	)	(1.1	)
Effective income tax rate	(53.3	)%	19.5	%	23.1	%

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s net deferred tax assets (liabilities) are as follows:



	As of December 31,
	2017			2016
	(In thousands)
Net current deferred tax assets:
Inventory	$	20,816		$	21,531
Net operating losses	5,380			3,019
Allowance for doubtful accounts	1,200			1,311
Reserve for accrued liabilities	3,177			840
Stock options	3,553			6,052
Other	1,811			867
Net current deferred tax assets	35,937			33,620
Valuation allowance	$	(26,445	)	$	(3,071	)
Net non-current deferred tax liability:
Property, plant and equipment	(2,618		)	(7,899		)
Goodwill & Intangibles	(4,161		)	(1,653		)
Other	(781		)	1,699
Net non-current deferred tax liabilities	(7,560		)	(7,853		)
Net deferred tax asset	$	1,932		$	22,696

Net operating loss carryforwards totaled $23.3 million at December 31, 2017. These operating losses will expire as shown in the table below.



Net operating losses		Expiration
(In thousands)
$	5,132	2019-2024
6,993		2025-2031
2,200		2032-2037
8,995		Indefinite
$	23,319

In assessing the realizability of our deferred tax assets, the Company has considered whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. In making this determination we are allowed to consider taxable income in prior years if carryback is permitted, the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies. Based on the Company anticipating to be in a projected three year cumulative loss at December 31, 2017 in the United States and certain foreign subsidiaries and the inability to generate future taxable income from the four sources outlined, we have determined it is more likely than not that a portion of deferred taxes will not be realized. Therefore, the Company has recorded a valuation allowance at the December 31, 2017 of $26.4 million.

On December 22, 2017, the US Tax Reform was enacted. US Tax Reform includes a number of changes which will impact our business. These changes include but are not limited to, a reduction in the corporate tax rate from 35% to 21% starting in 2018, the elimination or reduction of certain domestic deductions and credits and limitations on the deductibility of interest expense and executive compensation. US Tax Reform also transitions U.S international taxation from a worldwide tax system to a modified territorial system, which includes base erosion prevention measures on non-U.S. earnings, which may have the effect of subjecting certain earnings of our foreign subsidiaries to U.S. taxation. US Tax Reform also includes a one-time transition tax on the mandatory deemed repatriation of cumulative foreign earnings as of December 31, 2017.

Changes in tax rates and tax law are accounted for in the period of enactment. Therefore, during the year ended December 31, 2017, we recorded a charge totaling $46.2 million for our current estimate related to the provisions of US Tax Reform.

US Tax Reform eliminated the deferral of U.S. income tax on the historical unrepatriated earnings by imposing a transition tax, which is a one-time mandatory deemed repatriation tax on undistributed earnings. The transition tax is assessed on the U.S. shareholder’s share of the foreign corporation’s accumulated foreign earnings that have not previously been taxed. Earnings in the form of cash and cash equivalents will be taxed at a rate of 15.5% and all other earnings will be taxed at a rate of 8.0%. As of December 31, 2017, we have accrued income tax liabilities of $32.6 million under the transition tax.

Our deferred tax assets and liabilities are measured at the rate expected to apply when these temporary differences are expected to be realized or settled.

As our deferred tax assets exceeded the balance of our deferred tax liabilities at the date of enactment, we have recorded an adjustment of $13.6 million, reflecting the decrease in the U.S. corporate income tax rate and other changes to U.S. tax law. For the GILTI provisions of US Tax Reform, a provisional estimate could not be made as the Company has not yet completed its assessment or elected an accounting policy to either recognize deferred taxes for basis differences expected to reverse as GILTI or to record GILTI as period costs if and when incurred.

The Company is also still evaluating whether to change its indefinite reinvestment assertion in light of US Tax Reform and consider that conclusion to be incomplete under guidance issued by the SEC. If the Company subsequently changes its assertion during the measurement period, the Company will account for the change in assertion as part of the US Tax Reform enactment.

The Company is required to recognize the impact of a tax position that is more likely than not to be sustained upon examination based upon the technical merits of the position, including resolution of any appeals. An evaluation was performed for the tax years which remain subject to examination by major tax jurisdictions as of December 31, 2017, which are the years ended December 31, 2011 through December 31, 2017. The Company has occasionally been assessed interest or penalties by major tax jurisdictions; these assessments historically have not materially impacted the Company’s financial results. Interest expense assessed by tax jurisdictions is included with interest expense and assessed penalties are included in selling, general and administrative expenses.

The Company evaluates uncertain tax positions for recognition and measurement in the consolidated financial statements. To recognize a tax position, the Company determines whether it is more likely than not that the tax positions will be sustained upon examination, including resolution of any related appeals or litigation, based on the technical merits of the position. A tax position that meets the more likely than not threshold is measured to determine the amount of benefit to be recognized in the consolidated financial statements. The amount of tax benefit recognized with respect to any tax position is measured as the largest amount of benefit that is greater than 50 percent likely of being realized upon settlement. The Company had an uncertain tax position of $18.9 million at December 31, 2017 due to uncertainty in special provisions in U.S. and foreign tax jurisdictions.

A reconciliation of the beginning and ending amount of liabilities associated with uncertain tax positions for the year ended December 31, 2017 is as follows:



	2017
	(In thousands)
Balance at beginning of year	$	5,717
Additions for tax positions related to the current year	16,800
Settlements with tax authorities	(3,628		)
Balance at end of year	$	18,889

It is reasonably possible that the Company's existing liabilities for unrecognized tax benefits may increase or decrease in the year ending December 31, 2017, primarily due to the progression of any audits and the expiration of statutes of limitation. However, the Company cannot reasonably estimate a range of potential changes in its existing liabilities for unrecognized tax benefits due to various uncertainties, such as the unresolved nature of any possible audits. As of December 31, 2017, if recognized, $16.8 million of the Company's unrecognized tax benefits, including interest and penalties, would favorably impact the effective tax rate.

The Company paid $8.4 million, $23.0 million and $61.7 million in income taxes in 2017, 2016 and 2015, respectively.

Other Accrued Liabilities

12 Months Ended

Dec. 31, 2017

Other Liabilities Disclosure [Abstract]

Other Accrued Liabilities

Current other accrued liabilities consist of the following:



	December 31,
	2017		2016
	(In thousands)
Payroll taxes	$	6,591	$	3,151
Property, sales and other taxes	8,340		6,258
Commissions payable	408		1,424
Accrued vendor costs	7,068		2,185
Accrued warranties	1,535		3,853
Other	1,596		1,245
Total	$	25,538	$	18,116

Other long-term liabilities consist of contingent consideration related to the OPT acquisition in the amount of $2.0 million.

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2017
Postemployment Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans The Company has a defined-contribution 401(k) plan covering domestic employees and a defined-contribution pension plan covering certain foreign employees. The Company generally makes contributions to the plans equal to each participant’s eligible contributions for the plan year up to a specified percentage of the participant’s annual compensation. The Company’s contribution expense was $4.3 million, $4.6 million and $5.7 million in 2017, 2016 and 2015, respectively.

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company leases certain offices, shop and warehouse facilities, automobiles and equipment. Total lease expense incurred was $6.0 million, $5.0 million and $5.1 million in 2017, 2016 and 2015, respectively. Future annual minimum lease commitments at December 31, 2017 are as follows: 2018—$3.9 million; 2019—$2.2 million; 2020—$1.8 million; 2021—$0.9 million; 2022—$0.8 million; and thereafter—$6.2 million. Brazilian Tax Issue From 2002 to 2007, the Company’s Brazilian subsidiary imported goods through the State of Espirito Santo in Brazil and subsequently transferred them to its facility in the State of Rio de Janeiro. During that period, the Company’s Brazilian subsidiary paid taxes to the State of Espirito Santo on its imports. Upon the final sale of these goods, the Company’s Brazilian subsidiary collected taxes from customers and remitted them to the State of Rio de Janeiro net of the taxes paid on importation of those goods to the State of Espirito Santo in accordance with the Company’s understanding of Brazilian tax laws. In August 2007, the State of Rio de Janeiro served the Company’s Brazilian subsidiary with assessments to collect a state tax on the importation of goods through the State of Espirito Santo from 2002 to 2007 claiming that these taxes were due and payable to it under applicable law. The Company settled these assessments with payments to the State of Rio de Janeiro of $12.2 million in March 2010 and $3.9 million in December 2010. Approximately $7.8 million of these settlement payments were attributable to penalties, interest and amounts that had expired under the statute of limitations so that amount was recorded as an expense. The remainder of the settlement payments generated credits (recorded as a long-term prepaid tax) to be used to offset future state taxes on sales to customers in the State of Rio de Janeiro, subject to certification by the tax authorities. During the second quarter of 2015, the tax authorities certified approximately $8.3 million of those credits paid in 2010 and granted an additional $2.3 million in inflation-related credits. The additional amount of credits granted by the tax authorities increased long-term prepaid taxes and decreased selling, general and administrative expenses by $2.3 million. In December 2010 and January 2011, the Company’s Brazilian subsidiary was served with two additional assessments totaling approximately $13.0 million from the State of Rio de Janeiro to cancel the credits associated with the tax payments to the State of Espirito Santo (Santo Credits) on the importation of goods from July 2005 to October 2007. The Santo Credits are not related to the credits described above. The Company has objected to these assessments on the grounds that they would represent double taxation on the importation of the same goods and that the Company is entitled to the credits under applicable Brazilian law. With regard to the December 2010 assessment, the Company’s Brazilian subsidiary filed an appeal with a State of Rio de Janeiro judicial court to annul the tax assessment following a ruling against the Company by the tax administration’s highest council. In connection with that appeal, the Company was required to deposit with the court approximately $3.1 million in December 2014 as the full amount of the assessment with penalties and interest. The Company filed a similar appeal in the judicial system with regard to the January 2011 assessment and was required to deposit with the court approximately $5.7 million in December 2016. The Company believes that these credits are valid and that success in the judicial court process is probable. Based upon this analysis, the Company has not accrued any liability in conjunction with this matter. Since 2007, the Company’s Brazilian subsidiary has paid taxes on the importation of goods directly to the State of Rio de Janeiro and the Company does not expect any similar issues to exist for periods subsequent to 2007. General The Company operates its business and markets its products and services in most of the significant oil and gas producing areas in the world and is, therefore, subject to the risks customarily attendant to international operations and dependency on the condition of the oil and gas industry. Additionally, products of the Company are used in potentially hazardous drilling, completion, and production applications that can cause personal injury, product liability and environmental claims. Although exposure to such risk has not resulted in any significant problems in the past, there can be no assurance that ongoing and future developments will not adversely impact the Company. The Company is also involved in a number of legal actions arising in the ordinary course of business. Although no assurance can be given with respect to the ultimate outcome of such legal action, in the opinion of management, the ultimate liability with respect thereto will not have a material adverse effect on the Company’s results of operations, financial position or cash flows.

Geographic Segments

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Geographic Segments



	Year Ended December 31,
	2017			2016			2015
	(In thousands)
Revenues:
Western Hemisphere
Products	$	217,084		$	254,359		$	332,452
Services	65,050			63,350			88,376
Intercompany	27,554			43,856			53,429
Total	$	309,688		$	361,565		$	474,257
Eastern Hemisphere
Products	$	69,664		$	106,862		$	234,853
Services	28,048			34,818			52,963
Intercompany	772			337			5,799
Total	$	98,484		$	142,017		$	293,615
Asia Pacific
Products	$	64,383		$	71,791		$	118,059
Services	11,239			7,551			17,607
Intercompany	781			1,882			5,124
Total	$	76,404		$	81,224		$	140,790
Summary
Products	$	351,132		$	433,012		$	685,364
Services	104,337			105,719			158,946
Intercompany	29,107			46,075			64,352
Eliminations	(29,107		)	(46,075		)	(64,352		)
Total	$	455,469		$	538,731		$	844,310
Depreciation and amortization:
Western Hemisphere	$	30,441		$	21,395		$	20,093
Eastern Hemisphere	4,096			4,965			5,685
Asia Pacific	4,064			4,437			4,491
Corporate	2,374			1,060			208
Total	$	40,974		$	31,857		$	30,477
Income before income taxes:
Western Hemisphere	$	(18,099	)	$	91,221		$	155,763
Eastern Hemisphere	1,379			60,835			89,349
Asia Pacific	4,927			12,779			38,155
Corporate	(53,706		)	(50,941		)	(43,264		)
Eliminations	(146		)	1,974			9,768
Total	$	(65,644	)	$	115,868		$	249,771



	December 31,
	2017			2016
	(In thousands)
Total long-lived assets:
Western Hemisphere	$	482,636		$	317,875
Eastern Hemisphere	264,828			33,338
Asia Pacific	58,606			53,960
Eliminations	(414,814		)	(480		)
Total	$	391,256		$	404,693
Total assets:
Western Hemisphere	$	877,779		$	775,358
Eastern Hemisphere	752,967			318,529
Asia Pacific	185,229			370,043
Eliminations	(416,170		)	(2,526		)
Total	$	1,399,805		$	1,461,404

In 2017, Chevron and its affiliated companies accounted for approximately 14% of the Company’s total revenues. In 2016 and 2015, Chevron and its affiliated companies accounted for approximately 16% and 12%, respectively, of the Company’s total revenues. No other customer accounted for more than 10% of the Company’s total revenues in 2017, 2016 or 2015.

During the fourth quarter of 2017, the Company pursued a restructuring of its entities to prepare it for increased activity in the international markets. The main focus of the restructuring was to create an internal financing capability by taking advantage of excess cash held offshore. The excess foreign cash is now held in a treasury concentration center in the Eastern Hemisphere where it is invested for higher yields when not required to fund international operations. When required, these funds can be easily deployed to meet the working capital requirements of all foreign operations. This structure was put in place as the Company expects that when the market rebounds, future work will come from international markets, especially Europe and Asia Pacific.

The Company’s operations are organized into three geographic segments—Western Hemisphere (including North and South America; headquartered in Houston, Texas), Eastern Hemisphere (including Europe and Africa; headquartered in Aberdeen, Scotland) and Asia Pacific (including the Pacific Rim, Southeast Asia, Australia, India and the Middle East; headquartered in Singapore). Each of these segments sells similar products and services and the Company has major manufacturing facilities in all three of its regional headquarter locations as well as in Macae, Brazil.

Eliminations of operating profits are related to intercompany inventory transfers that are deferred until shipment is made to third party customers.

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Dec. 31, 2017
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity On November 24, 2008, the Board of Directors declared a dividend of one right (a “Right”) for each outstanding share of the Company’s common stock to stockholders of record at the close of business on December 5, 2008. Each Right entitled the registered holder to purchase from the Company a unit consisting of one one-hundredth of a share (a “Fractional Share”) of Series A Junior Participating Preferred Stock, par value $0.01 per share (the “Preferred Stock”), at a purchase price of $100 per Fractional Share, subject to adjustment. The Rights were exercisable in the event any person or group acquired 15% or more of the Company’s common stock, and until such time were inseparable from and traded with the Company's common stock. The related rights agreement was amended on February 26, 2018 to accelerate the expiration of the Rights from the close of business on November 24, 2018 to the close of business on February 26, 2018, and had the effect of terminating the rights agreement on that date. At the time of the termination of the rights agreement, all of the Rights distributed to holders of the Company’s common stock pursuant to the rights agreement expired.

Stock-Based Compensation and Stock Awards

12 Months Ended

Dec. 31, 2017

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

Stock-Based Compensation and Stock Awards

On May 13, 2004, the Company’s stockholders approved the 2004 Incentive Plan of Dril-Quip, Inc. (as amended in 2012 and approved by the Company’s stockholders on May 10, 2012, the “2004 Plan”), which reserved up to 2,696,294 shares of common stock to be used in connection with the 2004 Plan. Persons eligible for awards under the 2004 Plan are employees holding positions of responsibility with the Company or any of its subsidiaries and members of the Board of Directors.

On May 12, 2017, the Company’s stockholders approved the 2017 Omnibus Incentive Plan of Dril-Quip, Inc. (the “2017 Plan”), which reserved up to 1,500,000 shares of common stock to be used in connection with the 2017 Plan. Persons eligible for awards under the 2017 Plan are employees with the Company or any of its subsidiaries and members of the Board of Directors.

Stock Options

Options granted under the 2004 Plan have a term of ten years and become exercisable in cumulative annual increments of one-fourth of the total number of shares of common stock subject thereto, beginning on the first anniversary of the date of the grant. No stock options have been granted under the 2017 Plan.

The fair value of stock options granted was estimated on the grant date using the Black-Scholes option pricing model. The expected life was based on the Company’s historical trends, and volatility is based on the historical volatility over the expected life of the options. The risk-free interest rate is based on U.S. Treasury yield curve at the grant date. The Company does not pay dividends and, therefore, there is no assumed dividend yield.

Option activity for the year ended December 31, 2017 was as follows:



	Number of Options		Weighted Average Price		Aggregate Intrinsic Value (in millions)		Weighted Average Remaining Contractual Life (in years)
Outstanding at December 31, 2016	351,959		$	57.66
Granted	—		—
Exercised	(23,247	)	31.31
Forfeited	(48,500	)	57.71
Outstanding at December 31, 2017	280,212		$	59.84	$	0.6	2.9
Exercisable at December 31, 2017	280,212		$	59.84	$	0.6	2.9

The total intrinsic value of stock options exercised in 2017, 2016 and 2015 was $0.4 million, $1.0 million and $0.8 million, respectively. The income tax benefit realized from stock options exercised was $153,759, $357,000 and $263,000 for the years ended December 31, 2017, 2016 and 2015, respectively. There were 21,483 anti-dilutive stock option shares on December 31, 2017.

Stock-based compensation is recognized as selling, general and administrative expense in the accompanying Consolidated Statements of Income. For the years ended December 31, 2017 and December 31, 2016, there was no stock-based compensation expense for stock option awards. For the year ended December 31 ,2015, stock-based compensation expense for stock option awards was $1.1 million. No stock-based compensation expense was capitalized during 2017, 2016 and 2015.

Options granted to employees vest over four years and the Company recognizes compensation expense on a straight-line basis over the vesting period of the options. At December 31, 2017, there was no unrecognized compensation expense related to non-vested stock options as all outstanding options were fully vested.

Restricted Stock Awards

On October 28, 2017 and 2016, pursuant to the 2017 Plan and the 2004 Plan, respectively, the Company awarded officers, directors and key employees restricted stock awards (RSAs), which is an award of common stock subject to time vesting. The awards issued under both the 2017 Plan and the 2004 Plan are restricted as to transference, sale and other disposition. These RSAs vest ratably over a three-year period. The RSAs may also vest in case of a change of control. Upon termination, whether voluntary or involuntary, the RSAs that have not vested will be returned to the Company resulting in stock forfeitures. The fair market value of the stock on the date of grant is amortized and charged to selling, general and administrative expense over the stipulated time period over which the RSAs vest on a straight-line basis, net of estimated forfeitures.

The Company’s RSA activity and related information is presented below:



	RSA Number of Shares		Weighted Average Grant Date Fair Value Per Share
Nonvested balance at December 31, 2016	269,383		$	57.59
Granted	261,095		43.56
Vested	(127,674	)	55.31
Forfeited	(5,506	)	52.81
Nonvested balance at December 31, 2017	397,298		$	46.76

RSA compensation expense for the years ended December 31, 2017, 2016 and 2015 totaled $8.4 million, $7.2 million and $6.3 million, respectively . For 2017, 2016 and 2015, the income tax benefit recognized in net income for RSAs was $1.9 million, $1.2 million and $1.8 million, respectively. As of December 31, 2017, there was $16.7 million of total unrecognized compensation cost related to nonvested RSAs, which is expected to be recognized over a weighted average period of 2.3 years. There were 186,112 anti-dilutive restricted shares on December 31, 2017.

Performance Unit Awards

On October 28, 2017 and 2016, pursuant to the 2017 Plan and the 2004 Plan, the Company awarded performance unit awards (Performance Units) to officers and key employees. The Performance Units were valued based on a Monte Carlo simulation at $54.64 for the 2017 grants and $53.46 for the 2016 grants, approximately 131.7% and 110.3%, respectively, of the grant share price. Under the plans, participants may earn from 0% to 200% of their target award based upon the Company’s relative total share return (TSR) in comparison to the 15 component companies of the Philadelphia Oil Service Index.

The TSR is calculated over a three-year period from October 1, 2016 and 2017 to September 30, 2019 and 2020, respectively, and assumes reinvestment of dividends for companies within the index that pay dividends, which Dril-Quip does not. Assumptions used in the Monte Carlo simulation are as follows:



	2017	2016
Grant date	October 28, 2017	October 28, 2016
Performance period	October 1, 2017 to September 30, 2020	October 1, 2016 to September 30, 2019
Volatility	34.0%	32.5%
Risk-free interest rate	1.7%	1.0%
Grant date price	$41.50	$48.45

The Company’s Performance Unit activity and related information is presented below:



	Number of Performance Units		Weighted Average Grant Date Fair Value Per Unit
Nonvested balance at December 31, 2016	196,219		$	78.42
Granted	122,810		54.64
Vested	(52,444	)	126.84
Forfeited	(2,311	)	126.84
Nonvested balance at December 31, 2017	264,274		$	59.97

Performance Unit compensation expense was $5.4 million for the year ended December 31, 2017, $4.6 million for 2016 and $4.5 million for 2015. For 2017, 2016 and 2015, the income tax benefit recognized in net income for Performance Units was $0.8 million, $0.5 million and $1.1 million, respectively. As of December 31, 2017, there was $10.2 million of total unrecognized compensation expense related to nonvested Performance Units which is to be recognized over a weighted average period of 2.2 years. There were 159,810 anti-dilutive Performance Units at December 31, 2017.

Director Stock Compensation Awards

In June 2014, the Board of Directors authorized a stock compensation program for the directors pursuant to the 2004 Plan. This program continues under the 2017 Plan. Under this program, the Directors may elect to receive all or a portion of their fees in the form of restricted stock awards (DSA) in an amount equal to 125% of the fees in lieu of cash. The awards are made quarterly on the first business day after the end of each calendar quarter and vest on January 1 on the second year after the grant date.

The Company's DSA activity for the year ended December 31, 2017 is presented below:



	DSA Number of Shares		Weighted Average Grant Date Fair Value Per Share
Nonvested balance at December 31, 2016	13,422		$	62.46
Granted	9,340		51.58
Vested	(5,248	)	68.70
Forfeited	—		—
Nonvested balance at December 31, 2017	17,514		$	54.80

Director stock compensation awards expense for 2017 was $462,948 as compared to $405,000 for 2016 and $328,000 for 2015. For 2017, 2016 and 2015, the income tax benefit recognized in net income for DSAs was $115,002, $19,000 and $41,000, respectively. There was $301,934 of unrecognized compensation expense related to nonvested DSAs, which is expected to be recognized over a weighted average period of one year. There were 7,703 anti-diluted DSA shares on December 31, 2017.

The following table summarizes information for equity compensation plans in effect as of December 31, 2017:



	Number of securities to be issued upon exercise of outstanding options (1)	Weighted-average exercise price of outstanding options		Number of securities remaining available for future issuance under equity compensation plan (excluding securities reflected in column (a))
Plan category	(a)	(b)		(c)
Equity compensation plans approved by stockholders
Stock options	280,212	$	59.84	198,472
Total	280,212	$	59.84	198,472


(1)	Excludes 414,812 shares of unvested RSAs and DSAs and 264,274 of unvested Performance Units, which were granted pursuant to the 2017 Plan and the 2004 Plan, both of which were approved by the stockholders.

Earnings Per Share

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Earnings Per Share

The following is a reconciliation of the basic and diluted earnings per share computation.



	Year Ended December 31,
	2017			2016		2015
	(In thousands, except per share amounts)
Net income (loss)	$	(100,639	)	$	93,221	$	192,008
Weighted average basic common shares outstanding	37,457			37,537		38,364
Effect of dilutive securities - stock options and awards	—			130		167
Total shares and dilutive securities	37,457			37,667		38,531
Basic earnings (loss) per common share	$	(2.69	)	$	2.48	$	5.00
Diluted earnings (loss) per common share	$	(2.69	)	$	2.47	$	4.98

For the years ended December 31, 2017, 2016 and 2015, the Company has excluded the following common stock options and awards because their impact on the loss per share is anti-dilutive (in thousands on a weighted average basis):



	Year Ended December 31,
	2017	2016	2015
	(In thousands)
Director stock awards	8	2	2
Stock options	21	—	—
Performance share units	160	64	61
Restricted stock awards	186	110	97

Stock Repurchase Plan	12 Months Ended
Stock Repurchase Plan	Dec. 31, 2017
Equity [Abstract]
Stock Repurchase Plan	Stock Repurchase Plan On July 26, 2016, the Board of Directors authorized a stock repurchase plan under which the Company can repurchase up to $100 million of its common stock. The repurchase plan has no set expiration date and any repurchased shares are expected to be cancelled. No repurchases have been made pursuant to this plan during 2017.

Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited)

Quarterly Results of Operations (Unaudited):



	Quarter Ended
	March 31			June 30			September 30			December 31
	(In thousands, except per share data)
	Unaudited
2017
Revenues	$	119,228		$	127,922		$	100,346		$	107,971
Cost of sales	82,440			87,549			63,050			72,356
Gross profit	36,788			40,373			37,296			35,615
Operating income (loss)	(870		)	(1,114		)	(62,045		)	(5,110		)
Net income (loss)	94			15			(29,260		)	(71,492		)
Earnings (loss) per share:
Basic (1)	$	—		$	—		$	(0.78	)	$	(1.90	)
Diluted (1)	—			—			(0.78		)	(1.90		)
2016
Revenues	$	166,561		$	142,439		$	123,640		$	106,091
Cost of sales	93,096			79,881			77,633			77,794
Gross profit	73,465			62,558			46,007			28,297
Operating income (loss)	49,343			45,217			22,933			(4,634		)
Net income (loss)	36,769			36,137			19,013			1,302
Earnings (loss) per share:
Basic (1)	$	0.97		$	0.96		$	0.51		$	0.03
Diluted (1)	$	0.97		$	0.96		$	0.51		$	0.03


(1)	The sum of the quarterly per share amounts may not equal the annual amount reported, as per share amounts are computed independently for each quarter and for the full year.

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2017
Subsequent Events [Abstract]
Subsequent Event	Subsequent Events New ABL Credit Facility On February 23, 2018, the Company, as borrower, and the Company’s subsidiaries TIW Corporation and Honing, Inc., as guarantors, entered into a five-year senior secured revolving credit facility (the “New ABL Credit Facility”) with JPMorgan Chase Bank, N.A., as administrative agent, and other financial institutions as lenders with total commitments of $100.0 million, including up to $10.0 million available for letters of credit. The maximum amount that the Company may borrow under the New ABL Credit Facility is subject to the borrowing base, which is based on a percentage of eligible accounts receivable and eligible inventory, subject to reserves and other adjustments. All obligations under the New ABL Credit Facility are fully and unconditionally guaranteed jointly and severally by the Company, TIW, Honing, Inc., and future significant domestic subsidiaries, subject to customary exceptions. Borrowings under the New ABL Credit Facility are secured by liens on substantially all of the Company’s personal property, and bear interest at the Company’s option at either (i) the CB Floating Rate (as defined therein), calculated as the rate of interest publicly announced by JPMorgan Chase Bank, N.A., as its “prime rate,” subject to each increase or decrease in such prime rate effective as of the date such change occurs, with such CB Floating Rate not being less than Adjusted One Month LIBOR Rate (as defined therein) or (ii) the Adjusted LIBO Rate (as defined therein), plus, in each case, an applicable margin. The applicable margin ranges from 1.00% to 1.50% per annum for CBFR loans and 2.00% to 2.50% per annum for Eurodollar loans and, in each case, is based on the Company’s leverage ratio. The unused portion of the New ABL Credit Facility is subject to a commitment fee that varies from 0.250% to 0.375% per annum, according to average unused commitments under the New ABL Credit Facility. Interest on Eurodollar loans is payable at the end of the selected interest period, but no less frequently than quarterly. Interest on CB Floating Rate loans is payable monthly in arrears. The New ABL Credit Facility contains various covenants and restrictive provisions which limit the Company’s ability to, among other things, (1) enter into asset sales; (2) incur additional indebtedness; (3) make investments or loans and create liens; (4) pay certain dividends or make other distributions and (5) engage in transactions with affiliates. The New ABL Credit Facility also requires the Company to maintain a fixed charge coverage ratio based on the ratio of EBITDA (as defined therein) to Fixed Charges (as defined therein) during certain periods, including when availability under the New ABL Credit Facility is under certain levels. If the Company fails to perform its obligations under the agreement that results in an event of default, the commitments under the New ABL Credit Facility could be terminated and any outstanding borrowings under the New ABL Credit Facility may be declared immediately due and payable. The New ABL Credit Facility also contains cross default provisions that apply to the Company’s other indebtedness. The Company is in compliance with the related covenants as of February 27, 2018. As of February 27, 2018, the Company had no borrowings outstanding under the New ABL Credit Facility no letters of credit outstanding under the New ABL Credit Facility and availability of $71.0 million. Termination of Rights Agreement On February 26, 2018, the Company entered into Amendment No. 1 (the “Amendment”) to the Rights Agreement (the “Rights Agreement”), dated as of November 24, 2008, by and between the Company and Computershare Inc., as successor-in-interest to Computershare Shareowner Services LLC (formerly known as Mellon Investor Services LLC), as rights agent. The Amendment accelerated the expiration of the Company’s rights to purchase Series A Junior Participating Preferred Stock, par value $0.01 per share (the “Rights”), from 5:00 p.m., New York City time, on November 24, 2018 to 5:00 p.m., New York City time, on February 26, 2018 , and had the effect of terminating the Rights Agreement on that date. At the time of the termination of the Rights Agreement, all of the Rights distributed to holders of the Company’s common stock pursuant to the Rights Agreement expired. Restated Certificate of Incorporation On February 26, 2018, the Company filed with the Secretary of State of the State of Delaware a restated certificate of incorporation as adopted by the Board of Directors. The restated certificate of incorporation did not further amend the Company’s existing certificate of incorporation and only restates and integrates into a single instrument all prior amendments to the existing certificate of incorporation. Immediately prior to filing the above-referenced restated certificate of incorporation on February 26, 2018, the Company filed a Certificate of Elimination with the Delaware Secretary of State to eliminate the Series A Junior Participating Preferred Stock. No shares of such securities were outstanding or will be issued. Copies of the Restated Certificate of Incorporation and Certificate of Elimination are filed as Exhibits 3.1 and 3.2. New Contract in the First Quarter of 2018 In February 2018, the Company was awarded a contract to supply top tensioned riser (TTR) systems and related services for the development of the CA Rong Do Project located offshore Vietnam operated by Repsol with the participation of Mubadala, PVEP and PetroVietnam. The project will be in our Asia Pacific region and will affect our bookings in the backlog disclosure for the first quarter of 2018.

Schedule II—Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2017

Valuation and Qualifying Accounts [Abstract]

Schedule II—Valuation and Qualifying Accounts



Description	Balance at beginning of period	Charges to costs and expenses	Recoveries and write offs		Balance at end of period
	(In thousands)
Allowance for doubtful trade receivables
December 31, 2017	5,570	1,709	(2,760	)	4,519
December 31, 2016	7,739	1,259	(3,428	)	5,570
December 31, 2015	6,241	5,741	(4,243	)	7,739
Allowance for excess and slow moving inventory
December 31, 2017	45,648	32,204	5,714		83,566
December 31, 2016	39,247	5,748	653		45,648
December 31, 2015	34,607	8,512	(3,872	)	39,247

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its subsidiaries. All material intercompany accounts and transactions have been eliminated.

Use of Estimates

Cash and Cash Equivalents

Trade Receivables

Inventories

Inventories acquired from TIW and OPT as of November 10, 2016 and January 6, 2017, respectively, have been recorded at provisional fair values.

Property, Plant and Equipment

Property, plant and equipment acquired from TIW and OPT as of November 10, 2016 and January 6, 2017, respectively, have been recorded at provisional fair values.

Goodwill

Intangible Assets

Impairment of Long-Lived Assets

Income Taxes

Revenue Recognition

Product revenues

The Company recognizes product revenues from two methods:


•	product revenues recognized under the percentage-of-completion method; and


•	product revenues from the sale of products that do not qualify for the percentage-of-completion method.

Revenues recognized under the percentage-of-completion method

The Company uses the percentage-of-completion method on long-term project contracts that have the following characteristics:


•	the contracts call for products which are designed to customer specifications;


•	the structural designs are unique and require significant engineering and manufacturing efforts generally requiring more than one year in duration;


•	the contracts contain specific terms as to milestones, progress billings and delivery dates; and


•	product requirements cannot be filled directly from the Company’s standard inventory.

Revenues not recognized under the percentage-of-completion method

Service revenues

The Company earns service revenues from three sources:


•	technical advisory assistance;


•	rental of running tools; and


•	rework and reconditioning of customer-owned Dril-Quip products.

Foreign Currency

Fair Value of Financial Instruments

Concentration of Credit Risk

Earnings Per Share

Business Acquisitions (Tables)

12 Months Ended

Dec. 31, 2017

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table sets forth the purchase price allocation, which was based on fair value of assets acquired and liabilities assumed at the acquisition date, November 10, 2016:



	Valuation at November 10, 2016
	(In thousands)
Cash	$	1,829
Trade receivables	9,794
Inventories	29,896
Prepaid and other current assets	3,572
Deferred income taxes	205
Property, plant and equipment	38,058
Intangible assets ⁽¹⁾	29,808
Total assets acquired	113,162

Accounts payable	10,325
Customer prepayments	2,757
Other accrued liabilities	2,644
Deferred tax liabilities, non-current	2,261
Total liabilities assumed	17,987

Net identifiable assets acquired	95,175
Goodwill	33,522
Net assets acquired	$	128,697

Schedule of Pro Forma Information

The following table reflects the unaudited pro forma consolidated results of operations for the periods presented, as though the acquisition of TIW had occurred on January 1, 2015:



	Year Ended December 31,
	2016		2015
	(In thousands, except per share data)
	(Unaudited)
Revenues	$	595,797	$	943,714
Net income	$	84,756	$	193,310
Basic earnings per share	$	2.26	$	5.04
Diluted earnings per share	$	2.25	$	5.02

Inventories, net (Tables)

12 Months Ended

Dec. 31, 2017

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories consist of the following:



	December 31,
	2017			2016
	(In thousands)
Raw materials and supplies	$	70,188		$	85,684
Work in progress	65,382			81,645
Finished goods	239,083			233,732
	374,653			401,061
Less: allowance for obsolete and excess inventory (see Note 7)	(83,566		)	(45,648		)
Total inventory	$	291,087		$	355,413

Property, Plant and Equipment, net (Tables)

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment consists of:



	Estimated Useful Lives	December 31,
	Estimated Useful Lives	2017			2016
		(In thousands)
Land improvements	10-25 years	$	7,485		$	8,585
Buildings	15-40 years	183,437			191,485
Machinery, equipment and other	3-10 years	361,959			370,578
		552,881			570,649
Less accumulated depreciation		(315,091		)	(293,854		)
		237,790			276,795
Land		13,464			12,120
Construction work in process		32,993			34,234
Total property, plant and equipment		$	284,247		$	323,149

Goodwill (Tables)

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in the carrying amount of goodwill by reporting unit during the year ended December 31, 2017 were as follows:



	Carrying Value									Carrying Value
	January 1, 2017		Acquisitions		Foreign Currency Translation		Purchase Price Adjustments			December 31, 2017
	(In thousands)
Western Hemisphere	$	26,632	$	12,788	$	587	$	(849	)	$	39,158
Eastern Hemisphere	7,739		—		727		—			8,466
Asia Pacific	—		—		—		—			—
Total	$	34,371	$	12,788	$	1,314	$	(849	)	$	47,624

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived and Indefinite-Lived Intangible Assets

Intangible assets, the majority of which were acquired in the acquisition of TIW and OPT, consist of the following:



	Estimated Useful Lives	2017
	Estimated Useful Lives	Gross Book Value		Accumulated Amortization			Foreign Currency Translation			Net Book Value
		(In thousands)
Trademarks	indefinite	$	8,416	$	—		$	56		$	8,472
Patents	15 - 30 years	5,946		(968		)	80			5,058
Customer relationships	5 - 15 years	26,503		(1,675		)	(64		)	24,764
Non-compete agreements	3 years	171		(57		)	—			114
		$	41,036	$	(2,700	)	$	72		$	38,408



	Estimated Useful Lives	2016
	Estimated Useful Lives	Gross Book Value		Accumulated Amortization			Foreign Currency Translation		Net Book Value
		(In thousands)
Trademarks	indefinite	$	8,416	$	—		$	—	$	8,416
Patents	15 - 30 years	3,583		(294		)	—		3,289
Customer relationships	5 - 15 years	18,057		(168		)	—		17,889
		$	30,056	$	(462	)	$	—	$	29,594

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes

Income (loss) before income taxes consisted of the following:



	Year Ended December 31,
	2017			2016		2015
	(In thousands)
Domestic	$	(84,278	)	$	33,543	$	107,158
Foreign	18,634			82,325		142,613
Total	$	(65,644	)	$	115,868	$	249,771

Schedule of Income Tax Provision (Benefit)

The income tax provision (benefit) consists of the following:



	Year Ended December 31,
	2017			2016			2015
	(In thousands)
Current:
Federal	$	20,435		$	8,461		$	33,017
Foreign	(2,671		)	15,246			28,229
Total current	17,764			23,707			61,246
Deferred:
Federal	20,592			1,121			(1,611		)
Foreign	(3,361		)	(2,181		)	(1,872		)
Total deferred	17,231			(1,060		)	(3,483		)
Total	$	34,995		$	22,647		$	57,763

Schedule of Effective Income Tax Rate Reflected in Provision for Income Taxes and U.S. Federal Statutory Rate

The difference between the effective income tax rate reflected in the provision for income taxes and the U.S. federal statutory rate was as follows:



	Year Ended December 31,
	2017		2016		2015
Federal income tax statutory rate	35.0	%	35.0	%	35.0	%
Foreign income tax rate differential	2.4		(11.7	)	(7.3	)
Foreign development tax incentive	1.8		(0.9	)	(1.3	)
Manufacturing benefit	—		(1.1	)	(1.4	)
Foreign intellectual property tax benefit	16.1		(1.0	)	(0.8	)
Tax Cuts and Jobs Act (TCJA) Transition Tax	(49.7	)	—		—
Deferred tax rate change	(20.7	)	—		—
Change in valuation allowance	(35.6	)	—		—
Other	(2.6	)	(0.8	)	(1.1	)
Effective income tax rate	(53.3	)%	19.5	%	23.1	%

Components of Net Deferred Tax Assets (Liabilities)



	As of December 31,
	2017			2016
	(In thousands)
Net current deferred tax assets:
Inventory	$	20,816		$	21,531
Net operating losses	5,380			3,019
Allowance for doubtful accounts	1,200			1,311
Reserve for accrued liabilities	3,177			840
Stock options	3,553			6,052
Other	1,811			867
Net current deferred tax assets	35,937			33,620
Valuation allowance	$	(26,445	)	$	(3,071	)
Net non-current deferred tax liability:
Property, plant and equipment	(2,618		)	(7,899		)
Goodwill & Intangibles	(4,161		)	(1,653		)
Other	(781		)	1,699
Net non-current deferred tax liabilities	(7,560		)	(7,853		)
Net deferred tax asset	$	1,932		$	22,696

Schedule of Uncertain Tax Positions

A reconciliation of the beginning and ending amount of liabilities associated with uncertain tax positions for the year ended December 31, 2017 is as follows:



	2017
	(In thousands)
Balance at beginning of year	$	5,717
Additions for tax positions related to the current year	16,800
Settlements with tax authorities	(3,628		)
Balance at end of year	$	18,889

Summary of Operating Loss Carryforwards

These operating losses will expire as shown in the table below.



Net operating losses		Expiration
(In thousands)
$	5,132	2019-2024
6,993		2025-2031
2,200		2032-2037
8,995		Indefinite
$	23,319

Other Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2017

Other Liabilities Disclosure [Abstract]

Schedule of Other Accrued Liabilities

accrued liabilities consist of the following:



	December 31,
	2017		2016
	(In thousands)
Payroll taxes	$	6,591	$	3,151
Property, sales and other taxes	8,340		6,258
Commissions payable	408		1,424
Accrued vendor costs	7,068		2,185
Accrued warranties	1,535		3,853
Other	1,596		1,245
Total	$	25,538	$	18,116

Geographic Segments (Tables)

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Schedule of Segment Reporting



	Year Ended December 31,
	2017			2016			2015
	(In thousands)
Revenues:
Western Hemisphere
Products	$	217,084		$	254,359		$	332,452
Services	65,050			63,350			88,376
Intercompany	27,554			43,856			53,429
Total	$	309,688		$	361,565		$	474,257
Eastern Hemisphere
Products	$	69,664		$	106,862		$	234,853
Services	28,048			34,818			52,963
Intercompany	772			337			5,799
Total	$	98,484		$	142,017		$	293,615
Asia Pacific
Products	$	64,383		$	71,791		$	118,059
Services	11,239			7,551			17,607
Intercompany	781			1,882			5,124
Total	$	76,404		$	81,224		$	140,790
Summary
Products	$	351,132		$	433,012		$	685,364
Services	104,337			105,719			158,946
Intercompany	29,107			46,075			64,352
Eliminations	(29,107		)	(46,075		)	(64,352		)
Total	$	455,469		$	538,731		$	844,310
Depreciation and amortization:
Western Hemisphere	$	30,441		$	21,395		$	20,093
Eastern Hemisphere	4,096			4,965			5,685
Asia Pacific	4,064			4,437			4,491
Corporate	2,374			1,060			208
Total	$	40,974		$	31,857		$	30,477
Income before income taxes:
Western Hemisphere	$	(18,099	)	$	91,221		$	155,763
Eastern Hemisphere	1,379			60,835			89,349
Asia Pacific	4,927			12,779			38,155
Corporate	(53,706		)	(50,941		)	(43,264		)
Eliminations	(146		)	1,974			9,768
Total	$	(65,644	)	$	115,868		$	249,771



	December 31,
	2017			2016
	(In thousands)
Total long-lived assets:
Western Hemisphere	$	482,636		$	317,875
Eastern Hemisphere	264,828			33,338
Asia Pacific	58,606			53,960
Eliminations	(414,814		)	(480		)
Total	$	391,256		$	404,693
Total assets:
Western Hemisphere	$	877,779		$	775,358
Eastern Hemisphere	752,967			318,529
Asia Pacific	185,229			370,043
Eliminations	(416,170		)	(2,526		)
Total	$	1,399,805		$	1,461,404

Stock-Based Compensation and Stock Awards (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Option Activity

Option activity for the year ended December 31, 2017 was as follows:



	Number of Options		Weighted Average Price		Aggregate Intrinsic Value (in millions)		Weighted Average Remaining Contractual Life (in years)
Outstanding at December 31, 2016	351,959		$	57.66
Granted	—		—
Exercised	(23,247	)	31.31
Forfeited	(48,500	)	57.71
Outstanding at December 31, 2017	280,212		$	59.84	$	0.6	2.9
Exercisable at December 31, 2017	280,212		$	59.84	$	0.6	2.9

Summary of RSA Activity

The Company’s RSA activity and related information is presented below:



	RSA Number of Shares		Weighted Average Grant Date Fair Value Per Share
Nonvested balance at December 31, 2016	269,383		$	57.59
Granted	261,095		43.56
Vested	(127,674	)	55.31
Forfeited	(5,506	)	52.81
Nonvested balance at December 31, 2017	397,298		$	46.76

Summary of PSA Activity

The Company’s Performance Unit activity and related information is presented below:



	Number of Performance Units		Weighted Average Grant Date Fair Value Per Unit
Nonvested balance at December 31, 2016	196,219		$	78.42
Granted	122,810		54.64
Vested	(52,444	)	126.84
Forfeited	(2,311	)	126.84
Nonvested balance at December 31, 2017	264,274		$	59.97

Schedule of DSA Activity

The Company's DSA activity for the year ended December 31, 2017 is presented below:



	DSA Number of Shares		Weighted Average Grant Date Fair Value Per Share
Nonvested balance at December 31, 2016	13,422		$	62.46
Granted	9,340		51.58
Vested	(5,248	)	68.70
Forfeited	—		—
Nonvested balance at December 31, 2017	17,514		$	54.80

Schedule of Information for Stock Option Plans

The following table summarizes information for equity compensation plans in effect as of December 31, 2017:



	Number of securities to be issued upon exercise of outstanding options (1)	Weighted-average exercise price of outstanding options		Number of securities remaining available for future issuance under equity compensation plan (excluding securities reflected in column (a))
Plan category	(a)	(b)		(c)
Equity compensation plans approved by stockholders
Stock options	280,212	$	59.84	198,472
Total	280,212	$	59.84	198,472


(1)	Excludes 414,812 shares of unvested RSAs and DSAs and 264,274 of unvested Performance Units, which were granted pursuant to the 2017 Plan and the 2004 Plan, both of which were approved by the stockholders.

Monte Carlo Simulation

Schedule of Assumptions Used in Monte Carlo Simulation

Assumptions used in the Monte Carlo simulation are as follows:



	2017	2016
Grant date	October 28, 2017	October 28, 2016
Performance period	October 1, 2017 to September 30, 2020	October 1, 2016 to September 30, 2019
Volatility	34.0%	32.5%
Risk-free interest rate	1.7%	1.0%
Grant date price	$41.50	$48.45

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Reconciliation of Basic and Diluted Earnings Per Share

The following is a reconciliation of the basic and diluted earnings per share computation.



	Year Ended December 31,
	2017			2016		2015
	(In thousands, except per share amounts)
Net income (loss)	$	(100,639	)	$	93,221	$	192,008
Weighted average basic common shares outstanding	37,457			37,537		38,364
Effect of dilutive securities - stock options and awards	—			130		167
Total shares and dilutive securities	37,457			37,667		38,531
Basic earnings (loss) per common share	$	(2.69	)	$	2.48	$	5.00
Diluted earnings (loss) per common share	$	(2.69	)	$	2.47	$	4.98

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share



	Year Ended December 31,
	2017	2016	2015
	(In thousands)
Director stock awards	8	2	2
Stock options	21	—	—
Performance share units	160	64	61
Restricted stock awards	186	110	97

Quarterly Results of Operations (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Results of Operations



	Quarter Ended
	March 31			June 30			September 30			December 31
	(In thousands, except per share data)
	Unaudited
2017
Revenues	$	119,228		$	127,922		$	100,346		$	107,971
Cost of sales	82,440			87,549			63,050			72,356
Gross profit	36,788			40,373			37,296			35,615
Operating income (loss)	(870		)	(1,114		)	(62,045		)	(5,110		)
Net income (loss)	94			15			(29,260		)	(71,492		)
Earnings (loss) per share:
Basic (1)	$	—		$	—		$	(0.78	)	$	(1.90	)
Diluted (1)	—			—			(0.78		)	(1.90		)
2016
Revenues	$	166,561		$	142,439		$	123,640		$	106,091
Cost of sales	93,096			79,881			77,633			77,794
Gross profit	73,465			62,558			46,007			28,297
Operating income (loss)	49,343			45,217			22,933			(4,634		)
Net income (loss)	36,769			36,137			19,013			1,302
Earnings (loss) per share:
Basic (1)	$	0.97		$	0.96		$	0.51		$	0.03
Diluted (1)	$	0.97		$	0.96		$	0.51		$	0.03


(1)	The sum of the quarterly per share amounts may not equal the annual amount reported, as per share amounts are computed independently for each quarter and for the full year.

Organization - Additional Information (Detail) $ in Millions		12 Months Ended
	Jan. 06, 2017 USD ($)	Dec. 31, 2017 USD ($) Segment Location
Business Acquisition [Line Items]
Number of geographic segments \| Segment		3
Number of headquarter locations \| Location		3
Technology Alliance Inc.
Business Acquisition [Line Items]
Consideration transferred \| $	$ 20.0	$ 2.0

Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2017 USD ($) Project Source Method	Dec. 31, 2016 USD ($) Project	Dec. 31, 2015 USD ($)
Accounting Policies [Line Items]
Inventory reserves	$ (83,566,000)	$ (45,648,000)
Impairments and other charges related to inventory	33,600,000
Impairments and other charges related to fixed sssets	27,400,000
Impairments of long-lived assets	$ 0	0	$ 0
Number of product revenue sources \| Method	2
Unbilled receivables	$ 41,000,000	$ 56,800,000
Number of projects \| Project	8	10
Percentage of total revenues	13.00%	14.00%
Percentage of product revenues	16.00%	17.00%
Number of service revenue sources \| Source	3
Gains in foreign currency exchange transactions	$ (12,700,000)	$ 25,600,000	$ 3,900,000
Inventories
Accounting Policies [Line Items]
Inventory reserves	$ (83,500,000)	$ (45,600,000)

Business Acquisitions - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands			12 Months Ended			15 Months Ended
	Jan. 06, 2017	Oct. 14, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2017	Nov. 10, 2016
Business Acquisition [Line Items]
Goodwill			$ 47,624	$ 34,371		$ 47,624
TIW Corporation
Business Acquisition [Line Items]
Stock purchase agreement, par value of common stock (in dollars per share)		$ 100.0
Purchase price as a result of business acquisition		$ 142,700
Acquisition costs						$ 2,500
Goodwill							$ 33,522
Revenues			49,400	595,797	$ 943,714
Pre-tax operating loss			(15,500)	$ 84,756	$ 193,310
Net loss from business acquisition			(15,900)
Technology Alliance Inc.
Business Acquisition [Line Items]
Purchase price as a result of business acquisition	$ 20,000		$ 2,000

Business Acquisitions - Schedule of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Nov. 10, 2016	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Goodwill		$ 47,624	$ 34,371
TIW Corporation
Business Acquisition [Line Items]
Cash	$ 1,829
Trade receivables	9,794
Inventories	29,896
Prepaid and other current assets	3,572
Deferred income taxes	205
Property, plant and equipment	38,058
Intangible assets	29,808
Total assets acquired	113,162
Accounts payable	10,325
Customer prepayments	2,757
Other accrued liabilities	2,644
Deferred tax liabilities, non-current	2,261
Total liabilities assumed	17,987
Net identifiable assets acquired	95,175
Goodwill	33,522
Net assets acquired	128,697
Patents \| TIW Corporation
Business Acquisition [Line Items]
Intangible assets	$ 3,000
Weighted average useful life	10 years
Trade Names \| TIW Corporation
Business Acquisition [Line Items]
Intangible assets	$ 8,400
Customer relationships \| TIW Corporation
Business Acquisition [Line Items]
Intangible assets	$ 18,100
Weighted average useful life	15 years

Business Acquisitions - Schedule of Pro Forma Information (Details) - TIW Corporation - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Revenues	$ 49,400	$ 595,797	$ 943,714
Net income	$ (15,500)	$ 84,756	$ 193,310
Basic earnings per share (in dollars per share)		$ 2.26	$ 5.04
Diluted earnings per share (in dollars per share)		$ 2.25	$ 5.02

Inventories, net - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 70,188	$ 85,684
Work in progress	65,382	81,645
Finished goods	239,083	233,732
Inventory, gross, Total	374,653	401,061
Less: allowance for obsolete and excess inventory	(83,566)	(45,648)
Total inventory	$ 291,087	$ 355,413

Property, Plant and Equipment, net - Schedule of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 552,881	$ 570,649
Less accumulated depreciation	(315,091)	(293,854)
property, Plant and Equipment Less Accumulated Depreciation	237,790	276,795
Total property, plant and equipment	284,247	323,149
Land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 7,485	8,585
Land improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	10 years
Land improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	25 years
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 183,437	191,485
Buildings \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	15 years
Buildings \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	40 years
Machinery, equipment and other
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 361,959	370,578
Machinery, equipment and other \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Machinery, equipment and other \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	10 years
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 13,464	12,120
Construction work in process
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 32,993	$ 34,234

Property, Plant and Equipment, net - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 38.6	$ 31.6	$ 30.5

Impairments and Other Charges - Narrative (Details) $ in Millions	Dec. 31, 2017 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Impairments and other charges related to inventory	$ (33.6)
Impairments and other charges related to fixed assets	$ (27.4)

Goodwill - Schedule of Changes in Carrying Amount of Goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($)
Goodwill [Roll Forward]
Goodwill, Beginning balance	$ 34,371
Acquisitions	12,788
Foreign Currency Translation	1,314
Purchase Price Adjustments	(849)
Goodwill, Ending balance	47,624
Western Hemisphere
Goodwill [Roll Forward]
Goodwill, Beginning balance	26,632
Acquisitions	12,788
Foreign Currency Translation	587
Purchase Price Adjustments	(849)
Goodwill, Ending balance	39,158
Eastern Hemisphere
Goodwill [Roll Forward]
Goodwill, Beginning balance	7,739
Acquisitions	0
Foreign Currency Translation	727
Purchase Price Adjustments	0
Goodwill, Ending balance	8,466
Asia Pacific
Goodwill [Roll Forward]
Goodwill, Beginning balance	0
Acquisitions	0
Foreign Currency Translation	0
Purchase Price Adjustments	0
Goodwill, Ending balance	$ 0

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Trademarks	$ 8,416	$ 8,416
Gross Book Value	41,036	30,056
Accumulated Amortization	(2,700)	(462)
Foreign Currency Translation	72	0
Trademarks and foreign currency translation	8,472	8,416
Net Book Value	38,408	29,594
Patents
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Gross Book Value	5,946	3,583
Accumulated Amortization	(968)	(294)
Foreign Currency Translation	80	0
Net Book Value	5,058	3,289
Customer relationships
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Gross Book Value	26,503	18,057
Accumulated Amortization	(1,675)	(168)
Foreign Currency Translation	(64)	0
Net Book Value	24,764	17,889
Non-compete agreements
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Gross Book Value	171
Accumulated Amortization	(57)
Foreign Currency Translation	0
Net Book Value	$ 114
Estimated Useful Lives	3 years
Minimum \| Patents
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Estimated Useful Lives	15 years
Minimum \| Customer relationships
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Estimated Useful Lives	5 years
Maximum \| Patents
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Estimated Useful Lives	30 years
Maximum \| Customer relationships
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Estimated Useful Lives	15 years
Foreign Currency Translation
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items]
Trademarks	$ 56	$ 0

Intangible Assets - Narrative (Details) - USD ($)	12 Months Ended
Intangible Assets - Narrative (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 2,400,000	$ 200,000	$ 0
Amortization expense for 2018	2,200,000
Amortization expense for 2019	2,200,000
Amortization expense for 2020	2,100,000
Amortization expense for 2021	2,100,000
Amortization expense for 2022	$ 2,100,000

Income Taxes - Schedule of Income Before Income Taxes (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Domestic	$ (84,278,000)	$ 33,543,000	$ 107,158,000
Foreign	18,634,000	82,325,000	142,613,000
Income (loss) before taxes	$ (65,644,000)	$ 115,868,000	$ 249,771,000

Income Taxes - Schedule of Income Tax Provision (Benefit) (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Current:
Federal	$ 20,435,000	$ 8,461,000	$ 33,017,000
Foreign	(2,671,000)	15,246,000	28,229,000
Total current	17,764,000	23,707,000	61,246,000
Deferred:
Federal	20,592,000	1,121,000	(1,611,000)
Foreign	(3,361,000)	(2,181,000)	(1,872,000)
Total deferred	17,231,000	(1,060,000)	(3,483,000)
Total	$ 34,995,000	$ 22,647,000	$ 57,763,000

Income Taxes - Schedule of Effective Income Tax Rate Reflected in Provision for Income Taxes and U.S. Federal Statutory Rate (Detail)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Federal income tax statutory rate	35.00%	35.00%	35.00%
Foreign income tax rate differential	2.40%	(11.70%)	(7.30%)
Foreign development tax incentive	1.80%	(0.90%)	(1.30%)
Manufacturing benefit	(0.00%)	(1.10%)	(1.40%)
Foreign intellectual property tax benefit	16.10%	(1.00%)	(0.80%)
TCJA Transition Tax	(49.70%)	0.00%	0.00%
Deferred tax rate change	(20.70%)	0.00%	0.00%
Change in valuation allowance	(35.60%)	(0.00%)	(0.00%)
Other	(2.60%)	(0.80%)	(1.10%)
Effective income tax rate	(53.30%)	19.50%	23.10%

Income Taxes - Components of Net Deferred Tax Assets (Liabilities) (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Net current deferred tax assets:
Inventory	$ 20,816	$ 21,531
Net operating losses	5,380	3,019
Allowance for doubtful accounts	1,200	1,311
Reserve for accrued liabilities	3,177	840
Stock options	3,553	6,052
Other	1,811	867
Net current deferred tax assets	35,937	33,620
Valuation allowance	(26,445)	(3,071)
Net non-current deferred tax liability:
Property, plant and equipment	(2,618)	(7,899)
Goodwill & Intangibles	(4,161)	(1,653)
Other	(781)	1,699
Net non-current deferred tax liabilities	(7,560)	(7,853)
Net deferred tax asset	$ 1,932	$ 22,696

Income Taxes - Additional Information (Detail) - USD ($)		12 Months Ended
	Dec. 22, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Net operating loss carryforwards		$ 23,319,000
Valuation allowance		26,445,000	$ 3,071,000
Provisions for US tax reform		46,200,000
Percentage of cash and cash equivalents	15.50%
Percentage of other tax rates	8.00%
Accrued income tax liabilities related to TCJA		32,600,000
Adjustment to corporate tax rate	$ 13,600,000
Uncertain tax positions		18,889,000	5,717,000
Increase in unrecognized tax benefits		16,800,000
Income taxes paid		$ 8,400,000	$ 23,000,000	$ 61,700,000

Income Taxes - Schedule of Uncertain Tax Positions (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($)
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 5,717
Additions for tax positions related to the current year	16,800
Settlements with tax authorities	(3,628)
Ending balance	$ 18,889

Income Taxes - Schedule of Operating Loss Carryforward (Details) $ in Thousands	Dec. 31, 2017 USD ($)
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 23,319
2019-2024
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	5,132
2025-2031
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	6,993
2032-2037
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	2,200
Indefinite
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 8,995

Other Accrued Liabilities - Schedule of Other Accrued Liabilities (Detail) - USD ($) $ in Thousands		12 Months Ended
	Jan. 06, 2017	Dec. 31, 2017	Dec. 31, 2016
Other Accrued Liabilities [Line Items]
Payroll taxes		$ 6,591	$ 3,151
Property, sales and other taxes		8,340	6,258
Commissions payable		408	1,424
Accrued vendor costs		7,068	2,185
Accrued warranties		1,535	3,853
Other		1,596	1,245
Total		25,538	$ 18,116
Technology Alliance Inc.
Other Accrued Liabilities [Line Items]
Purchase price as a result of business acquisition	$ 20,000	$ 2,000

Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Postemployment Benefits [Abstract]
Employee benefit plans, contribution expense	$ 4.3	$ 4.6	$ 5.7

Commitments and Contingencies - Additional Information (Detail) $ in Millions	1 Months Ended		2 Months Ended	3 Months Ended	10 Months Ended	12 Months Ended
	Dec. 31, 2010 USD ($)	Mar. 31, 2010 USD ($)	Jan. 31, 2011 USD ($) Assessment	Jun. 30, 2015 USD ($)	Dec. 31, 2010 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)
Commitments And Contingencies [Line Items]
Lease expense incurred						$ 6.0	$ 5.0	$ 5.1
2018						3.9
2019						2.2
2020						1.8
2021						0.9
2022						0.8
Thereafter						$ 6.2
Brazil
Commitments And Contingencies [Line Items]
Tax assessment settled with payments	$ 3.9	$ 12.2
Amount of interest, penalties and monetary restatement fees on tax assessments					$ 7.8
Tax credits certified				$ 8.3
Number of tax assessments \| Assessment			2
Value of assessments served on Brazilian subsidiary			$ 13.0
Court deposit							$ 5.7		$ 3.1
Brazil \| Inflation Related Credits
Commitments And Contingencies [Line Items]
Tax credits certified				$ 2.3

Geographic Segments - Schedule of Segment Reporting (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Products									$ 351,132,000	$ 433,012,000	$ 685,364,000
Services									104,337,000	105,719,000	158,946,000
Revenues	$ 107,971,000	$ 100,346,000	$ 127,922,000	$ 119,228,000	$ 106,091,000	$ 123,640,000	$ 142,439,000	$ 166,561,000	455,469,000	538,731,000	844,310,000
Depreciation and amortization									40,974,000	31,857,000	30,477,000
Income before income taxes									(65,644,000)	115,868,000	249,771,000
Total long-lived assets	391,256,000				404,693,000				391,256,000	404,693,000
Total assets	1,399,805,000				1,461,404,000				1,399,805,000	1,461,404,000
Intercompany
Segment Reporting Information [Line Items]
Revenues									29,107,000	46,075,000	64,352,000
Eliminations
Segment Reporting Information [Line Items]
Revenues									(29,107,000)	(46,075,000)	(64,352,000)
Income before income taxes									(146,000)	1,974,000	9,768,000
Total long-lived assets	(414,814,000)				(480,000)				(414,814,000)	(480,000)
Total assets	(416,170,000)				(2,526,000)				(416,170,000)	(2,526,000)
Western Hemisphere
Segment Reporting Information [Line Items]
Products									217,084,000	254,359,000	332,452,000
Services									65,050,000	63,350,000	88,376,000
Western Hemisphere \| Intercompany
Segment Reporting Information [Line Items]
Revenues									27,554,000	43,856,000	53,429,000
Western Hemisphere \| Operating Segments
Segment Reporting Information [Line Items]
Revenues									309,688,000	361,565,000	474,257,000
Depreciation and amortization									30,441,000	21,395,000	20,093,000
Income before income taxes									(18,099,000)	91,221,000	155,763,000
Total long-lived assets	482,636,000				317,875,000				482,636,000	317,875,000
Total assets	877,779,000				775,358,000				877,779,000	775,358,000
Eastern Hemisphere
Segment Reporting Information [Line Items]
Products									69,664,000	106,862,000	234,853,000
Services									28,048,000	34,818,000	52,963,000
Eastern Hemisphere \| Intercompany
Segment Reporting Information [Line Items]
Revenues									772,000	337,000	5,799,000
Eastern Hemisphere \| Operating Segments
Segment Reporting Information [Line Items]
Revenues									98,484,000	142,017,000	293,615,000
Depreciation and amortization									4,096,000	4,965,000	5,685,000
Income before income taxes									1,379,000	60,835,000	89,349,000
Total long-lived assets	264,828,000				33,338,000				264,828,000	33,338,000
Total assets	752,967,000				318,529,000				752,967,000	318,529,000
Asia-Pacific
Segment Reporting Information [Line Items]
Products									64,383,000	71,791,000	118,059,000
Services									11,239,000	7,551,000	17,607,000
Asia-Pacific \| Intercompany
Segment Reporting Information [Line Items]
Revenues									781,000	1,882,000	5,124,000
Asia-Pacific \| Operating Segments
Segment Reporting Information [Line Items]
Revenues									76,404,000	81,224,000	140,790,000
Depreciation and amortization									4,064,000	4,437,000	4,491,000
Income before income taxes									4,927,000	12,779,000	38,155,000
Total long-lived assets	58,606,000				53,960,000				58,606,000	53,960,000
Total assets	$ 185,229,000				$ 370,043,000				185,229,000	370,043,000
Corporate \| Operating Segments
Segment Reporting Information [Line Items]
Depreciation and amortization									2,374,000	1,060,000	208,000
Income before income taxes									$ (53,706,000)	$ (50,941,000)	$ (43,264,000)

Geographic Segments - Additional Information (Detail)	12 Months Ended
Geographic Segments - Additional Information (Detail)	Dec. 31, 2017 Segment Location	Dec. 31, 2016	Dec. 31, 2015
Concentration Risk [Line Items]
Number of geographic segments \| Segment	3
Number of headquarter locations \| Location	3
Sales Revenue, Net \| Customer Concentration Risk
Concentration Risk [Line Items]
Percentage of revenue	10.00%	10.00%	10.00%
Chevron and Affiliated Companies \| Sales Revenue, Net \| Customer Concentration Risk
Concentration Risk [Line Items]
Percentage of revenue	14.00%	16.00%	12.00%

Stockholders' Equity - Additional Information (Detail) - $ / shares	Dec. 31, 2017	Dec. 31, 2016	Nov. 24, 2008
Class of Stock [Line Items]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Series A Junior Participating Preferred Stock
Class of Stock [Line Items]
Preferred stock, par value (in dollars per share)			$ 0.01
Share price (in dollars per share)			$ 100
Percentage of preferred stock exercisable			15.00%

Stock-Based Compensation and Stock Awards - Stock Options - Additional Information (Detail)		12 Months Ended
	May 13, 2004	Dec. 31, 2017 USD ($) shares	Dec. 31, 2016 USD ($) shares	Dec. 31, 2015 USD ($) shares	May 12, 2017 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved (up to) (in shares) \| shares		280,212	351,959		1,500,000
Intrinsic value of stock options exercised		$ 400,000	$ 1,000,000	$ 800,000
Anti-dilutive awards (in shares) \| shares		21,483	186,112
Stock-based compensation expense for stock option exercises			$ 0	1,100,000
Capitalized expense		$ 0	0	0
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Income tax benefit realized from stock options exercised		$ 153,759	$ 357,000,000	$ 263,000,000
Anti-dilutive awards (in shares) \| shares		21,000	0	0
Unrecognized compensation expense related to share based compensation		$ 0
2004 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted period	10 years
Cumulative annual increments of the total number of shares	0.25
2004 Plan \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years

Stock-Based Compensation and Stock Awards - Schedule of Option Activity (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Number of Options
Options Outstanding, Beginning Balance (in shares)	351,959
Granted (in shares)	0
Exercised (in shares)	(23,247)
Forfeited (in shares)	(48,500)
Options Outstanding, Ending Balance (in shares)	280,212	351,959
Options Exercisable (in shares)	280,212
Weighted Average Price
Weighted Average Price Outstanding, Beginning Balance (in dollars per share)	$ 57.66
Granted (in dollars per share)	0.00
Exercised (in dollars per share)	31.31
Forfeited (in dollars per share)	57.71
Weighted Average Price Outstanding, Ending Balance (in dollars per share)	59.84	$ 57.66
Weighted Average Price Exercisable (in dollars per share)	$ 59.84
Aggregate Intrinsic Value (in millions)
Aggregate intrinsic value Outstanding	$ 0.6
Aggregate intrinsic value Exercisable	$ 0.6
Weighted Average Remaining Contractual Life (in years)
Weighted Average Remaining Contractual Life Outstanding (in years)	2 years 10 months 20 days
Weighted Average Remaining Contractual Life Exercisable (in years)	2 years 10 months 20 days

Stock-Based Compensation and Stock Awards - Restricted Stock Awards - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards compensation expense	$ 8.4	$ 7.2	$ 6.3
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Anti-dilutive awards (in shares)	21,483	186,112
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Income tax benefit recognized	$ 1.9	$ 1.2	$ 1.8
Unrecognized compensation expense related to share based compensation	$ 16.7
Period of recognition for unrecognized compensation expense related to nonvested stock options (in years)	2 years 3 months 4 days
Anti-dilutive awards (in shares)	186,000	110,000	97,000

Stock-Based Compensation and Stock Awards - Summary of RSA Activity (Detail) - Restricted Stock Awards	12 Months Ended
	Dec. 31, 2017 $ / shares shares
RSA Number of Shares
Nonvested options, Beginning Balance (in shares) \| shares	269,383
Granted (in shares) \| shares	261,095
Vested (in shares) \| shares	(127,674)
Forfeited (in shares) \| shares	(5,506)
Nonvested options, Ending Balance (in shares) \| shares	397,298
Weighted Average Grant Date Fair Value Per Unit
Nonvested Weighted Average Grant Date Fair Value, Beginning Balance (in dollars per share) \| $ / shares	$ 57.59
Granted (in dollars per share) \| $ / shares	43.56
Vested (in dollars per share) \| $ / shares	55.31
Forfeited (in dollars per share) \| $ / shares	52.81
Nonvested Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share) \| $ / shares	$ 46.76

Stock-Based Compensation and Stock Awards - Performance Unit Awards - Additional Information (Detail) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($) Company $ / shares shares	Dec. 31, 2016 USD ($) $ / shares shares	Dec. 31, 2015 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Unit compensation expense	$ 5,400	$ 4,600	$ 4,500
Anti-dilutive performance share units (in shares) \| shares	21,483	186,112
Performance Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share value based on Monte Carlo simulation (in dollars per share) \| $ / shares	$ 54.64	$ 53.46
Percentage of grant share price (as a percentage)	131.70%	110.30%
Number of components companies in the Philadelphia Oil Service Index \| Company	15
Total share return period (in years)	3 years
Income tax benefit recognized	$ 762	$ 462	$ 1,100
Unrecognized compensation expense related to share based compensation	$ 10,200
Period of recognition for unrecognized compensation expense related to nonvested stock options (in years)	2 years 2 months 12 days
Anti-dilutive performance share units (in shares) \| shares	159,810	64,000	61,000
Minimum \| Performance Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Participants earning under the term (as a percentage)	0.00%
Maximum \| Performance Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Participants earning under the term (as a percentage)	200.00%

Stock-Based Compensation and Stock Awards - Schedule of Assumptions Used in Monte Carlo Simulation (Detail) - Performance Unit Awards - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility (as a percentage)	34.00%	32.50%
Risk-free interest rate (as a percentage)	1.70%	1.00%
Grant date price (in dollars per share)	$ 41.50	$ 48.45

Stock-Based Compensation and Stock Awards - Summary of PSA Activity (Detail) - Performance Unit Awards	12 Months Ended
	Dec. 31, 2017 $ / shares shares
Number of shares
Nonvested options, Beginning Balance (in shares) \| shares	196,219
Granted (in shares) \| shares	122,810
Vested (in shares) \| shares	(52,444)
Forfeited (in shares) \| shares	(2,311)
Nonvested options, Ending Balance (in shares) \| shares	264,274
Weighted Average Grant Date Fair Value Per Unit
Nonvested Weighted Average Grant Date Fair Value, Beginning Balance (in dollars per share) \| $ / shares	$ 78.42
Granted (in dollars per share) \| $ / shares	54.64
Vested (in dollars per share) \| $ / shares	126.84
Forfeited (in dollars per share) \| $ / shares	126.84
Nonvested Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share) \| $ / shares	$ 59.97

Stock-Based Compensation and Stock Awards - Director Stock Compensation Awards - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Anti-dilutive awards (in shares)		21,483	186,112
DSA
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fees in lieu of cash (equal to) (as a percentage)	125.00%
Director stock compensation awards expense		$ 463,000	$ 405,000	$ 328,000
Income tax benefit recognized		115,002	$ 19,000	$ 41,000
Unrecognized compensation expense related to share based compensation		$ 302,000
Period of recognition for unrecognized compensation expense related to nonvested stock options (in years)		1 year
Anti-dilutive awards (in shares)		7,703

Stock-Based Compensation and Stock Awards - Schedule of DSA Activity (Detail) - DSA	12 Months Ended
	Dec. 31, 2017 $ / shares shares
Number of shares
Nonvested options, Beginning Balance (in shares) \| shares	13,422
Granted (in shares) \| shares	9,340
Vested (in shares) \| shares	(5,248)
Forfeited (in shares) \| shares	0
Nonvested options, Ending Balance (in shares) \| shares	17,514
Weighted Average Grant Date Fair Value Per Unit
Nonvested Weighted Average Grant Date Fair Value, Beginning Balance (in dollars per share) \| $ / shares	$ 62.46
Granted (in dollars per share) \| $ / shares	51.58
Vested (in dollars per share) \| $ / shares	68.70
Forfeited (in dollars per share) \| $ / shares	0.00
Nonvested Weighted Average Grant Date Fair Value, Ending Balance (in dollars per share) \| $ / shares	$ 54.80

Stock-Based Compensation and Stock Awards - Schedule of Information for Stock Option Plans (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of securities to be issued upon exercise of outstanding options (in shares)	280,212
Weighted-average exercise price of outstanding options (in dollars per share)	$ 59.84
Number of securities remaining available for future issuance under equity compensation plan (in shares)	198,472
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested stock and units (in shares)	397,298	269,383
Performance Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested stock and units (in shares)	264,274	196,219
Stock options \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of securities to be issued upon exercise of outstanding options (in shares)	280,212
Weighted-average exercise price of outstanding options (in dollars per share)	$ 59.84
Number of securities remaining available for future issuance under equity compensation plan (in shares)	198,472
2004 Plan \| Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested stock and units (in shares)	414,812
2004 Plan \| Performance Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested stock and units (in shares)	264,274

Earnings Per Share - Reconciliation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Earnings Per Share [Abstract]
Net income (loss)	$ (71,492)	$ (29,260)	$ 15	$ 94	$ 1,302	$ 19,013	$ 36,137	$ 36,769	$ (100,639)	$ 93,221	$ 192,008
Weighted average basic common shares outstanding (in shares)									37,457,413	37,537,000	38,364,000
Effect of dilutive securities-stock options and awards (in shares)									0	130,000	167,000
Total shares and dilutive securities (in shares)									37,457,413	37,667,000	38,531,000
Basic earnings per common share (in dollars per share)	$ (1.90)	$ (0.78)	$ 0.00	$ 0.00	$ 0.03	$ 0.51	$ 0.96	$ 0.97	$ (2.69)	$ 2.48	$ 5.00
Diluted earnings per common share (in dollars per share)	$ (1.90)	$ (0.78)	$ 0.00	$ 0.00	$ 0.03	$ 0.51	$ 0.96	$ 0.97	$ (2.69)	$ 2.47	$ 4.98

Earnings per Share - Schedule of Antidilutive Securities (Details) - shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive performance share units (in shares)	21,483	186,112
Director stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive performance share units (in shares)	8,000	2,000	2,000
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive performance share units (in shares)	21,000	0	0
Performance Unit Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive performance share units (in shares)	159,810	64,000	61,000
Restricted Stock Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive performance share units (in shares)	186,000	110,000	97,000

Stock Repurchase Plan - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jul. 26, 2016
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased (in shares)		400,500,000	1,184,700,000
2016 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase plan (up to)				$ 100,000,000
2017 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Number of shares repurchased (in shares)	0

Quarterly Results of Operations (Unaudited) - Schedule of Quarterly Results of Operations (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 107,971	$ 100,346	$ 127,922	$ 119,228	$ 106,091	$ 123,640	$ 142,439	$ 166,561	$ 455,469	$ 538,731	$ 844,310
Cost of sales	72,356	63,050	87,549	82,440	77,794	77,633	79,881	93,096	305,394	328,404	459,286
Gross profit	35,615	37,296	40,373	36,788	28,297	46,007	62,558	73,465
Operating income (loss)	(5,110)	(62,045)	(1,114)	(870)	(4,634)	22,933	45,217	49,343	(69,136)	112,859	248,835
Net income (loss)	$ (71,492)	$ (29,260)	$ 15	$ 94	$ 1,302	$ 19,013	$ 36,137	$ 36,769	$ (100,639)	$ 93,221	$ 192,008
Earnings (loss) per share:
Basic (in dollars per share)	$ (1.90)	$ (0.78)	$ 0.00	$ 0.00	$ 0.03	$ 0.51	$ 0.96	$ 0.97	$ (2.69)	$ 2.48	$ 5.00
Diluted (in dollars per share)	$ (1.90)	$ (0.78)	$ 0.00	$ 0.00	$ 0.03	$ 0.51	$ 0.96	$ 0.97	$ (2.69)	$ 2.47	$ 4.98

Subsequent Events Subsequent Events - Narrative (Details) - USD ($)	Feb. 23, 2018	Feb. 27, 2018	Feb. 26, 2018	Dec. 31, 2017	Dec. 31, 2016
Subsequent Event [Line Items]
Preferred stock, par value (in dollars per share)				$ 0.01	$ 0.01
ABL Credit Facility \| Revolving Credit Facility \| Subsequent Event
Subsequent Event [Line Items]
Debt instrument, term	5 years
Total commitments	$ 100,000,000.0
Amount available for letters of credit	$ 10,000,000
Minimum \| ABL Credit Facility \| Subsequent Event
Subsequent Event [Line Items]
Commitment fee percentage	0.25%
Minimum \| CB Floating Rate \| ABL Credit Facility \| Subsequent Event
Subsequent Event [Line Items]
Basis spread on variable rate	1.00%
Minimum \| Eurodollar \| ABL Credit Facility \| Subsequent Event
Subsequent Event [Line Items]
Basis spread on variable rate	2.00%
Maximum \| ABL Credit Facility \| Subsequent Event
Subsequent Event [Line Items]
Commitment fee percentage	0.375%
Maximum \| CB Floating Rate \| ABL Credit Facility \| Subsequent Event
Subsequent Event [Line Items]
Basis spread on variable rate	1.50%
Maximum \| Eurodollar \| ABL Credit Facility \| Subsequent Event
Subsequent Event [Line Items]
Basis spread on variable rate	2.50%
Series A Preferred Stock \| Subsequent Event
Subsequent Event [Line Items]
Preferred stock, par value (in dollars per share)			$ 0.01
Scenario, Forecast \| ABL Credit Facility
Subsequent Event [Line Items]
Available borrowing capacity		$ 71,000,000

Schedule II—Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Allowance for doubtful trade receivables
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at beginning of period	$ 5,570	$ 7,739	$ 6,241
Charges to costs and expenses	1,709	1,259	5,741
Recoveries and write offs	(2,760)	(3,428)	(4,243)
Balance at end of period	4,519	5,570	7,739
Allowance for excess and slow moving inventory
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at beginning of period	45,648	39,247	34,607
Charges to costs and expenses	32,204	5,748	8,512
Recoveries and write offs	5,714	653	(3,872)
Balance at end of period	$ 83,566	$ 45,648	$ 39,247