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Impairment Charges (Tables)

12 Months Ended

Dec. 31, 2019

The following summarizes pre-tax impairment charges recorded during 2018, which are included in Impairment expense in our consolidated statements of operations (in thousands):



	Canada		Australia		U.S.		Total
Quarter ended March 31, 2018
Long-lived assets	$	28,661	$	—	$	—	$	28,661
Total	$	28,661	$	—	$	—	$	28,661

The following summarizes pre-tax impairment charges recorded during 2019, which are included in Impairment expense in our consolidated statements of operations (in thousands):



	Canada		Australia		U.S.		Total
Quarter ended June 30, 2019
Long-lived assets	$	—	$	5,546	$	—	$	5,546
Quarter ended December 31, 2019
Long-lived assets	702		—		—		702
Goodwill	19,900		—		—		19,900
Total	$	20,602	$	5,546	$	—	$	26,148

The following summarizes pre-tax impairment charges recorded during 2017, which are included in Impairment expense in our consolidated statements of operations (in thousands):



	Canada		Australia		U.S.		Total
Quarter ended September 30, 2017
Long-lived assets	$	4,360	$	—	$	—	$	4,360
Quarter ended December 31, 2017
Long-lived assets	27,244		—		—		27,244
Total	$	31,604	$	—	$	—	$	31,604

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues:
Revenues	$ 527,555	$ 466,692	$ 382,276
Costs and expenses:
Selling, general and administrative expenses	59,586	67,036	63,431
Depreciation and amortization expense	123,768	125,846	126,443
Impairment expense	26,148	28,661	31,604
Other operating expense	290	790	1,511
Total costs and expenses	576,606	554,747	480,247
Operating loss	(49,051)	(88,055)	(97,971)
Interest expense	(27,383)	(26,258)	(21,439)
Loss on extinguishment of debt	0	(748)	(842)
Interest income	78	226	200
Other income	7,281	1,623	1,308
Loss before income taxes	(69,075)	(113,212)	(118,744)
Income tax benefit	10,741	31,365	13,490
Net loss	(58,334)	(81,847)	(105,254)
Less: Net income attributable to noncontrolling interest	157	396	459
Net loss attributable to Civeo Corporation	(58,491)	(82,243)	(105,713)
Less: Dividends attributable to Class A preferred shares	1,849	49,589	0
Net loss attributable to Civeo common shareholders	$ (60,340)	$ (131,832)	$ (105,713)
Per Share Data (see Note 8)
Basic net loss per share attributable to Civeo Corporation common shareholders (in dollars per share)	$ (0.36)	$ (0.84)	$ (0.82)
Diluted net loss per share attributable to Civeo Corporation common shareholders (in dollars per share)	$ (0.36)	$ (0.84)	$ (0.82)
Weighted average number of common shares outstanding:
Basic (in shares)	167,047	157,231	128,365
Diluted (in shares)	167,047	157,231	128,365
Service and Other
Revenues:
Revenues	$ 492,700	$ 428,829	$ 363,731
Costs and expenses:
Service, other and product costs	338,923	296,097	232,117
Rental
Revenues:
Revenues	27,993	20,079	7,731
Costs and expenses:
Service, other and product costs	22,510	21,472	12,861
Product
Revenues:
Revenues	6,862	17,784	10,814
Costs and expenses:
Service, other and product costs	$ 5,381	$ 14,845	$ 12,280

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 3,331	$ 12,372
Accounts receivable, net	99,493	70,223
Inventories	5,877	4,313
Prepaid expenses	7,247	7,036
Other current assets	7,904	3,556
Assets held for sale	7,589	10,297
Total current assets	131,441	107,797
Property, plant and equipment, net	590,309	658,905
Goodwill	110,173	114,207
Other intangible assets, net	111,837	119,409
Operating lease right-of-use assets	24,876	0
Other noncurrent assets	1,276	1,359
Total assets	969,912	1,001,677
Current liabilities:
Accounts payable	36,971	28,334
Accrued liabilities	21,755	15,956
Income taxes	328	310
Current portion of long-term debt	35,080	33,329
Deferred revenue	7,165	3,035
Other current liabilities	8,741	5,719
Total current liabilities	110,040	86,683
Long-term debt, less current maturities	321,792	342,908
Deferred income taxes	9,452	18,442
Operating lease liabilities	21,231	0
Other noncurrent liabilities	16,592	18,220
Total liabilities	479,107	466,253
Commitments and contingencies (Note 17)
Shareholders’ Equity:
Preferred shares (Class A Series 1, no par value; 50,000,000 shares authorized, 9,042 shares issued and outstanding, respectively; aggregate liquidation preference of $93,627,392 and $98,243,690 as of December 31, 2019 and 2018)	58,129	56,280
Common shares (no par value; 550,000,000 shares authorized, 171,656,039 shares and 166,392,479 shares issued, respectively, and 169,556,403 shares and 165,932,334 shares outstanding, respectively)	0	0
Additional paid-in capital	1,572,249	1,562,133
Accumulated deficit	(771,590)	(710,551)
Common shares held in treasury at cost, 2,099,636 and 460,145 shares, respectively	(5,472)	(1,189)
Accumulated other comprehensive loss	(363,173)	(371,249)
Total Civeo Corporation shareholders’ equity	490,143	535,424
Noncontrolling interest	662	0
Total shareholders’ equity	490,805	535,424
Total liabilities and shareholders’ equity	$ 969,912	$ 1,001,677

Description of Business and Basis of Presentation (Details)	12 Months Ended
	Dec. 31, 2019 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	3

Supplemental Cash Flow Information - Cash Paid for Interest and Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Supplemental Cash Flow Information [Abstract]
Interest (net of amounts capitalized)	$ 23,882	$ 23,098	$ 17,362
Net income taxes paid (refunds received)	$ 1,045	$ (5,271)	$ (7,755)

Consolidated Statements of Changes in Shareholders' Equity (Shares) - shares	Total	Preferred Shares	Common Shares
Balance (in shares) at Dec. 31, 2016		0	108,103,000
Increase (Decrease) in Stockholders' Equity (in share) [Roll Forward]
Share-based compensation (in shares)		0	1,159,000
Issuance of common shares		0	23,000,000
Balance (in shares) at Dec. 31, 2017		0	132,262,000
Increase (Decrease) in Stockholders' Equity (in share) [Roll Forward]
Share-based compensation (in shares)		0	1,696,000
Issuance of common shares		9,042,000	31,974,000
Balance (in shares) at Dec. 31, 2018	166,392,479	9,042,000	165,932,000
Increase (Decrease) in Stockholders' Equity (in share) [Roll Forward]
Share-based compensation (in shares)		0	3,624,000
Balance (in shares) at Dec. 31, 2019	171,656,039	9,042,000	169,556,000

Acquisitions - Supplemental Pro Forma Financial Information (Details) - Noralta - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Revenues	$ 501,275	$ 506,040
Net loss attributable to Civeo Corporation common shareholders	$ (129,900)	$ (91,420)
Basic net loss per share attributable to Civeo Corporation common shareholders (in usd per share)	$ (0.83)	$ (0.57)
Diluted net loss per share attributable to Civeo Corporation common shareholders (in usd per share)	$ (0.83)	$ (0.57)

Debt - Credit Agreement (Details) $ in Millions		12 Months Ended
Debt - Credit Agreement (Details) $ in Millions	Dec. 31, 2018 USD ($)	Dec. 31, 2019 USD ($) Lender	Nov. 30, 2020 USD ($)	Dec. 31, 2019 AUD ($) Lender	Sep. 30, 2019 USD ($)
Debt Instrument [Line Items]
Interest coverage ratio		3
Maximum leverage ratio		4
Maximum senior secured ratio		2.50
Long-term Debt	$ 376,237,000	$ 356,872,000
Credit Agreement
Debt Instrument [Line Items]
Number of lenders \| Lender		10		10
Credit Agreement \| Minimum
Debt Instrument [Line Items]
Lender commitments		$ 24,900,000
Credit Agreement \| Maximum
Debt Instrument [Line Items]
Lender commitments					$ 85,400,000
Credit Agreement \| US Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount		$ 285,400,000
Amended And Restated Syndicated Facility Agreement
Debt Instrument [Line Items]
Maximum leverage ratio		4.00
Revolving Credit Facility \| Credit Agreement
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity		$ 239,500,000
Revolving Credit Facility, U.S. Subsidiaries \| Credit Agreement
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity		20,000,000
Letters of credit outstanding		300,000
Revolving Credit Facility, Canadian Subsidiaries \| Credit Agreement
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity		159,500,000			183,500,000
Letters of credit outstanding		500,000
Revolving Credit Facility, Australian Subsidiaries \| Credit Agreement
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity		60,000,000
Letters of credit outstanding		1,200,000
Credit Agreement \| Credit Agreement
Debt Instrument [Line Items]
Long-term line of credit					$ 24,000,000
Bank Guarantee Facility
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity				$ 2.0
Long-term Debt		$ 700,000
London Interbank Offered Rate (LIBOR) \| Line of Credit \| Minimum \| United States of America, Dollars
Debt Instrument [Line Items]
Interest rate spread	2.25%
London Interbank Offered Rate (LIBOR) \| Line of Credit \| Maximum \| United States of America, Dollars
Debt Instrument [Line Items]
Interest rate spread	4.00%
Canadian Dealer Offered Rate (CDOR) \| Line of Credit \| Minimum \| Canada, Dollars
Debt Instrument [Line Items]
Interest rate spread	2.25%
Canadian Dealer Offered Rate (CDOR) \| Line of Credit \| Maximum \| Canada, Dollars
Debt Instrument [Line Items]
Interest rate spread	4.00%
Base Rate \| Line of Credit \| Minimum \| United States of America, Dollars
Debt Instrument [Line Items]
Interest rate spread	1.25%
Base Rate \| Line of Credit \| Minimum \| Canada, Dollars
Debt Instrument [Line Items]
Interest rate spread	1.25%
Base Rate \| Line of Credit \| Maximum \| United States of America, Dollars
Debt Instrument [Line Items]
Interest rate spread	3.00%
Base Rate \| Line of Credit \| Maximum \| Canada, Dollars
Debt Instrument [Line Items]
Interest rate spread	3.00%
Bank Bill Swap Bid Rate (BBSY) \| Line of Credit \| Minimum \| Australia, Dollars
Debt Instrument [Line Items]
Interest rate spread	2.25%
Bank Bill Swap Bid Rate (BBSY) \| Line of Credit \| Maximum \| Australia, Dollars
Debt Instrument [Line Items]
Interest rate spread	4.00%
Maximum Leverage Ratio
Debt Instrument [Line Items]
Maximum leverage ratio		4.00
Maximum Leverage Ratio \| Revolving Credit Facility, Australian Subsidiaries \| Amended And Restated Syndicated Facility Agreement
Debt Instrument [Line Items]
Debt covenant, gross proceeds in qualified offering, maximum leverage threshold	$ 150,000,000	$ 150,000,000
First non-extending lender \| Credit Agreement \| Canadian term loans [Member]
Debt Instrument [Line Items]
Notes payable		6,800,000
First non-extending lender \| Revolving Credit Facility, Canadian Subsidiaries \| Credit Agreement
Debt Instrument [Line Items]
Long-term line of credit		11,500,000
First non-extending lender \| Subsequent Event \| Credit Agreement \| Canadian term loans [Member]
Debt Instrument [Line Items]
Notes payable			$ 6,900,000
First non-extending lender \| Subsequent Event \| Revolving Credit Facility, Canadian Subsidiaries \| Credit Agreement
Debt Instrument [Line Items]
Long-term line of credit			15,700,000
First non-extending lender \| Subsequent Event \| Revolving Credit Facility, Australian Subsidiaries \| Credit Agreement
Debt Instrument [Line Items]
Long-term line of credit			10,400,000
Second non-extending lender \| Revolving Credit Facility, Canadian Subsidiaries \| Credit Agreement
Debt Instrument [Line Items]
Long-term line of credit		$ 16,400,000
Second non-extending lender \| Subsequent Event \| Revolving Credit Facility, U.S. Subsidiaries \| Credit Agreement
Debt Instrument [Line Items]
Long-term line of credit			7,400,000
Second non-extending lender \| Subsequent Event \| Revolving Credit Facility, Canadian Subsidiaries \| Credit Agreement
Debt Instrument [Line Items]
Long-term line of credit			$ 22,500,000

Segment and Related Information (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Financial information by business segment for each of the three years ended December 31, 2019, 2018 and 2017 is summarized in the following table (in thousands):



	Total Revenues		Depreciation and amortization		Operating (loss) income			Capital expenditures		Total assets
2019
Canada	$	325,651	$	66,557	$	(32,313	)	$	22,124	$	850,361
Australia	156,093		39,116		517			3,456		278,268
United States	45,811		10,987		(11,214		)	3,104		46,862
Corporate and eliminations	—		7,108		(6,041		)	1,128		(205,579		)
Total	$	527,555	$	123,768	$	(49,051	)	$	29,812	$	969,912

2018
Canada	$	296,012	$	66,980	$	(63,519	)	$	6,025	$	804,618
Australia	119,238		40,441		(1,950		)	4,658		292,271
United States	51,442		10,626		(8,640		)	5,388		60,282
Corporate and eliminations	—		7,799		(13,946		)	1,037		(155,494		)
Total	$	466,692	$	125,846	$	(88,055	)	$	17,108	$	1,001,677

2017
Canada	$	245,595	$	69,983	$	(63,211	)	$	3,893	$	550,378
Australia	111,221		45,699		(11,528		)	2,772		353,840
United States	25,460		4,653		(14,426		)	1,912		33,128
Corporate and eliminations	—		6,108		(8,806		)	2,617		(83,434		)
Total	$	382,276	$	126,443	$	(97,971	)	$	11,194	$	853,912

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

Financial information by geographic segment for each of the three years ended December 31, 2019, 2018 and 2017, is summarized below (in thousands). Revenues in the U.S. include export sales. Revenues are attributable to countries based on the location of the entity selling the products or performing the services. Long-lived assets are attributable to countries based on the physical location of the entity and its operating assets and do not include intercompany balances.



	Canada		Australia		U.S. and Other		Total
2019
Revenues from unaffiliated customers	$	325,651	$	156,093	$	45,811	$	527,555
Long-lived assets	558,310		242,002		38,159		838,471

2018
Revenues from unaffiliated customers	$	296,012	$	119,238	$	51,442	$	466,692
Long-lived assets	580,644		263,094		50,142		893,880

2017
Revenues from unaffiliated customers	$	245,595	$	111,221	$	25,460	$	382,276
Long-lived assets	353,710		331,511		32,280		717,501

Details of Selected Balance Sheet Accounts

12 Months Ended

Dec. 31, 2019

Balance Sheet Related Disclosures [Abstract]

Details of Selected Balance Sheet Accounts

DETAILS OF SELECTED BALANCE SHEET ACCOUNTS

Additional information regarding selected balance sheet accounts at December 31, 2019 and 2018 is presented below (in thousands):



	December 31, 2019			December 31, 2018
Accounts receivable, net:
Trade	$	76,370		$	48,875
Unbilled revenue	23,041			21,169
Other	335			555
Total accounts receivable	99,746			70,599
Allowance for doubtful accounts	(253		)	(376		)
Total accounts receivable, net	$	99,493		$	70,223



	December 31, 2019		December 31, 2018
Inventories:
Finished goods and purchased products	$	3,982	$	2,461
Work in process	813		945
Raw materials	1,082		907
Total inventories	$	5,877	$	4,313

During the fourth quarter of 2017, we recorded a $0.5 million write-down of inventory at our modular construction and manufacturing plant in Canada, which is included in Service and other costs in our accompanying consolidated statements of operations.



	Estimated Useful Life (in years)	December 31, 2019			December 31, 2018
Property, plant and equipment, net:
Land		$	43,147		$	46,805
Accommodations assets	3-15	1,696,425			1,650,758
Buildings and leasehold improvements	7-20	26,108			25,168
Machinery and equipment	4-15	12,060			10,693
Office furniture and equipment	3-7	58,005			54,459
Vehicles	3-5	14,604			14,589
Construction in progress		4,286			7,119
Total property, plant and equipment		1,854,635			1,809,591
Accumulated depreciation		(1,264,326		)	(1,150,686		)
Total property, plant and equipment, net		$	590,309		$	658,905



	December 31, 2019		December 31, 2018
Accrued liabilities:
Accrued compensation	$	17,169	$	13,545
Accrued taxes, other than income taxes	3,152		2,177
Other	1,434		234
Total accrued liabilities	$	21,755	$	15,956

Acquisitions - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Apr. 02, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Goodwill	$ 110,173	$ 114,207		$ 0
Noralta
Business Acquisition [Line Items]
Cash and cash equivalents			$ 24
Accounts receivable			21,456
Inventories			839
Other current assets			4,266
Property, plant and equipment			129,424
Goodwill			123,569
Intangible assets			110,736
Total assets acquired			390,314
Accounts payable and accrued liabilities			15,023
Income taxes payable			1,038
Other current liabilities			2,027
Deferred income taxes			51,543
Other noncurrent liabilities			5,133
Total liabilities assumed			74,764
Net assets acquired			$ 315,550

Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Leases [Abstract]
2020	$ 6,979
2021	5,074
2022	4,501
2023	3,882
2024	3,405
Thereafter	8,141
Total lease payments	31,982
Less imputed interest	5,208
Total	$ 26,774

Income Taxes - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Apr. 02, 2018
Schedule of Income Taxes [Line Items]
Enacted tax rate change - Canada		$ (2,452,000)	$ 0	$ 598,000
Change in valuation allowance				$ 9,000,000
Decrease in valuation allowance		$ (9,000,000)
Federal statutory tax rate percentage		15.00%	15.00%	15.00%
Undistributed earnings of foreign subsidiaries		$ 0	$ 0
Unrecognized tax benefits		0	0	$ 0
Interest expense and penalties accrued		$ 0	$ 0	$ 0
Canada Revenue Agency \| Foreign Tax Authority
Schedule of Income Taxes [Line Items]
Change in valuation allowance	$ 4,900,000
Noralta
Schedule of Income Taxes [Line Items]
Deferred income taxes					$ 51,543,000

Debt - Changes to Maximum Leverage Ratio (Details)	3 Months Ended			12 Months Ended
Debt - Changes to Maximum Leverage Ratio (Details)	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Maximum leverage ratio					4
Credit Agreement \| Scenario, Forecast
Debt Instrument [Line Items]
Maximum leverage ratio				3.5
Amended And Restated Syndicated Facility Agreement
Debt Instrument [Line Items]
Maximum leverage ratio					4.00
Offering of Indebtedness \| Credit Agreement \| Scenario, Forecast
Debt Instrument [Line Items]
Maximum leverage ratio	3.75	3.75	3.75

Summary of Significant Accounting Policies (Details) - USD ($)			3 Months Ended	12 Months Ended
	Feb. 21, 2017	Feb. 23, 2016	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jul. 01, 2019	Jan. 01, 2019	Apr. 02, 2018	Jan. 01, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Interest costs capitalized				$ 0	$ 0	$ 0
Goodwill			$ 110,173,000	110,173,000	114,207,000	0
Foreign currency gains (losses)				(300,000)	(800,000)	$ (1,500,000)
Maximum amount of future payments under guarantee arrangements			2,500,000	2,500,000
Goodwill, impairment loss			19,900,000
Cumulative effect of implementation					(699,000)					$ 394,000
Operating lease right-of-use assets			24,876,000	24,876,000	$ 0
Operating lease liability			26,774,000	$ 26,774,000
Sales Revenue, Net \| Imperial Oil \| Customer Concentration Risk
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk percentage				10.00%	10.00%	10.00%
Sales Revenue, Net \| Fort Hills Energy LP \| Customer Concentration Risk
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk percentage				10.00%	10.00%	10.00%
Sales Revenue, Net \| Suncor Energy \| Customer Concentration Risk
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk percentage					10.00%
Minimum \| Civeo Plan \| Performance Shares
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of participant target performance share award	0.00%	0.00%		0.00%
Maximum \| Civeo Plan \| Performance Shares
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of participant target performance share award	200.00%	200.00%		200.00%
Measurement Input, Long-term Revenue Growth Rate
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Measurement inputs used to calculate Goodwill impairment				2.00%
Noralta
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Goodwill									$ 123,569,000
Action
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Goodwill							$ 7,900,000
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets								$ 21,300,000
Operating lease liability								$ 22,400,000
Accumulated Deficit
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of implementation					$ (699,000)					$ 394,000
Accumulated Deficit \| Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of implementation			(700,000)	$ (700,000)
Taxes to increase accumulated deficit			200,000	200,000
Canada
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Goodwill			102,238,000	$ 102,238,000	$ 114,207,000	$ 0
Goodwill, impairment loss			$ 19,900,000

Earnings Per Share - Calculation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Numerator:
Net loss attributable to Civeo common shareholders	$ (60,340)	$ (131,832)	$ (105,713)
Less: income allocated to participating securities	0	0	0
Net loss attributable to Civeo common shareholders	(60,340)	(131,832)	(105,713)
Undistributed earnings (loss) allocated to participating securities, diluted	0	0	0
Diluted net loss attributable to Civeo Corporation common shareholders	$ (60,340)	$ (131,832)	$ (105,713)
Denominator:
Weighted average shares outstanding - basic (in shares)	167,047	157,231	128,365
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	0	0	0
Weighted average common shares outstanding - diluted (in shares)	167,047	157,231	128,365
Basic net loss per share attributable to Civeo Corporation common shareholders (in dollars per share)	$ (0.36)	$ (0.84)	$ (0.82)
Diluted net loss per share attributable to Civeo Corporation common shareholders (in dollars per share)	$ (0.36)	$ (0.84)	$ (0.82)

Asset Retirement Obligations

12 Months Ended

Dec. 31, 2019

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

ASSET RETIREMENT OBLIGATIONS

AROs at December 31, 2019 and 2018 were (in thousands):



	2019		2018
Asset retirement obligations	$	18,796	$	18,381
Less: Asset retirement obligations due within one year*	3,197		4,443
Long-term asset retirement obligations	$	15,599	$	13,938



*	Classified as a current liability on the consolidated balance sheets, under the caption “Other current liabilities.” Related to remediation work planned for 2020.

Total accretion expense related to AROs was $1.5 million, $1.7 million and $1.4 million during the years ended December 31, 2019, 2018 and 2017, respectively.

During the years ended December 31, 2019, 2018 and 2017, our ARO changed as follows (in thousands):



	2019			2018			2017
Balance as of January 1	$	18,381		$	17,185		$	17,584
Accretion of discount	1,538			1,689			1,353
New obligations	497			6,629			86
Change in estimates of existing obligations	(1,989		)	(4,336		)	(1,901		)
Settlement of obligations	(462		)	(1,013		)	(816		)
Foreign currency translation	831			(1,773		)	879
Balance as of December 31	$	18,796		$	18,381		$	17,185

Asset Retirement Obligations (Tables)

12 Months Ended

Dec. 31, 2019

Asset Retirement Obligation Disclosure [Abstract]

Schedule of Asset Retirement Obligations

AROs at December 31, 2019 and 2018 were (in thousands):



	2019		2018
Asset retirement obligations	$	18,796	$	18,381
Less: Asset retirement obligations due within one year*	3,197		4,443
Long-term asset retirement obligations	$	15,599	$	13,938



*	Classified as a current liability on the consolidated balance sheets, under the caption “Other current liabilities.” Related to remediation work planned for 2020.

Schedule of Change in Asset Retirement Obligation

During the years ended December 31, 2019, 2018 and 2017, our ARO changed as follows (in thousands):



	2019			2018			2017
Balance as of January 1	$	18,381		$	17,185		$	17,584
Accretion of discount	1,538			1,689			1,353
New obligations	497			6,629			86
Change in estimates of existing obligations	(1,989		)	(4,336		)	(1,901		)
Settlement of obligations	(462		)	(1,013		)	(816		)
Foreign currency translation	831			(1,773		)	879
Balance as of December 31	$	18,796		$	18,381		$	17,185

Acquisitions - Purchase Price Allocation to the Identifiable Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Apr. 02, 2018
Acquired Indefinite-lived Intangible Assets [Line Items]
Net intangible assets	$ 111,837	$ 119,409
Noralta
Acquired Indefinite-lived Intangible Assets [Line Items]
Amortizable Intangible Assets			$ 110,736
Amortizable Intangible Liabilities			2,456
Net intangible assets			108,280
Noralta \| Unfavorable lease contracts
Acquired Indefinite-lived Intangible Assets [Line Items]
Amortizable Intangible Liabilities			2,456
Noralta \| Trade name
Acquired Indefinite-lived Intangible Assets [Line Items]
Amortizable Intangible Assets			1,474
Noralta \| Contracts
Acquired Indefinite-lived Intangible Assets [Line Items]
Amortizable Intangible Assets			106,766
Noralta \| Favorable lease contract
Acquired Indefinite-lived Intangible Assets [Line Items]
Amortizable Intangible Assets			$ 2,496

Retirement Plans	12 Months Ended
Retirement Plans	Dec. 31, 2019
Retirement Benefits [Abstract]
Retirement Plans	RETIREMENT PLANS We sponsor defined contribution plans. Participation in these plans is available to substantially all employees. We recognized expense of $5.3 million, $4.9 million and $4.8 million related to matching contributions under our various defined contribution plans during the years ended December 31, 2019, 2018 and 2017, respectively. A defined contribution plan is a post-employment benefit plan under which an entity pays fixed contributions into a separate entity and will generally have no legal or constructive obligation to pay further amounts. Obligations for contributions to defined contribution plans are recognized as an employee benefit expense in profit or loss in the periods during which services are rendered by employees. Canadian Retirement Savings Plan We offer a defined contribution retirement plan to our Canadian employees. In Canada, we contribute, on a matched basis, an amount up to 5% of each Canadian based, salaried employee’s earnings (base salary plus annual incentive compensation) to the legislated maximum for a Deferred Profit Sharing Plan (DPSP). The maximum for 2019 was C$13,615. DPSP is a form of defined contribution retirement savings plan governed by Canadian federal tax legislation which provides for the deferral of tax on deposits and investment returns until removed from the plan to support retirement income. Employer contributions vest upon the completion of two years of service. Employee contributions are required in order to be eligible for the DPSP employer matching. Maximum employer matching (5% noted above) is attained with 6% employee contribution which would go into a Group Registered Retirement Savings Plan (GRRSP). The two plans work in tandem. Contributions to the “Retirement Savings Plan” for Canadian employees are subject to the annual maximum total registered savings limit of C$26,500 in 2019 as set out in the Canadian Tax Act. Australian Retirement Savings Plan Our Australian subsidiary contributes to various defined contribution plans for its employees in accordance with legislation governing the calculation of the Superannuation Guarantee Surcharge (SGC). SGC is contributed by the employer at a rate of 9.5% of the base salary of an employee, capped at the legislated maximum contribution base which is indexed annually. Our Australian subsidiary makes no investment decisions on behalf of the employee and has no obligations other than to remit the defined contributions to the plan selected by each individual employee. U.S. Retirement Savings Plan We offer a defined contribution 401(k) retirement plan to substantially all of our U.S. employees. Participants may contribute from 1% to 75% of their base and cash incentive compensation (subject to Internal Revenue Service limitations), and we make matching contributions under this plan on the first 6% of the participant’s compensation (100% match of the first 4% employee contribution and 50% match on the next 2% contribution). Our matching contributions vest at a rate of 40% after two years of service and 20% per year for each of the employee’s next three years of service and are fully vested thereafter.

Valuation Accounts (Tables)

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule of Valuation and Qualifying Accounts

Activity in the valuation accounts was as follows (in thousands):



	Balance at Beginning of Period		Charged (Reduction) to Costs and Expenses			Deductions (Net of Recoveries)			Translation and Other, Net			Balance at End of Period
Year Ended December 31, 2019:
Allowance for doubtful accounts receivable	$	376	$	(5	)	$	(122	)	$	4		$	253
Valuation allowance for deferred tax assets	82,833		2,257			(499		)	(88		)	84,503

Year Ended December 31, 2018:
Allowance for doubtful accounts receivable	$	1,338	$	(787	)	$	(143	)	$	(32	)	$	376
Valuation allowance for deferred tax assets	90,663		(622		)	(1,119		)	(6,089		)	82,833

Year Ended December 31, 2017:
Allowance for doubtful accounts receivable	$	638	$	48		$	(23	)	$	675		$	1,338
Valuation allowance for deferred tax assets	76,157		10,083			(242		)	4,665			90,663

Revenue - Remaining Expected Performance Obligation (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue expected to be recognized	$ 224,927
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue from Contract with Customer [Abstract]
Revenue expected to be recognized	$ 140,846
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue from Contract with Customer [Abstract]
Revenue expected to be recognized	$ 52,962
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue from Contract with Customer [Abstract]
Revenue expected to be recognized	$ 8,413
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized, period	1 year

Income Taxes - NOL and Tax Credit Carryforwards (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Foreign Tax Authority \| Canada Revenue Agency
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 207,606
Foreign Tax Authority \| Australian Taxation Office
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	109,355
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Net U.S. Federal operating loss carryforwards, subject to expiration	36,030
Net U.S. Federal Operating loss carryforwards, not subject to expiration	14,416
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 5,608

Impairment Charges - Summary of Pre-tax Impairment Charges Included in Impairment Expense (Details) - USD ($) $ in Thousands	3 Months Ended					12 Months Ended
	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets held-for-use	$ 702	$ 5,546	$ 28,661	$ 27,244	$ 4,360
Goodwill, impairment loss	19,900
Impairment expense			28,661			$ 26,148	$ 28,661	$ 31,604
Canada
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets held-for-use	702	0	28,661	27,244	4,360
Goodwill, impairment loss	19,900
Impairment expense			28,661			20,602		31,604
Australia
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets held-for-use	0	5,546	0	0	0
Goodwill, impairment loss	0
Impairment expense			0			5,546		0
U.S.
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets held-for-use	0	$ 0	0	$ 0	$ 0
Goodwill, impairment loss	$ 0
Impairment expense			$ 0			$ 0		$ 0

Share Based Compensation (Tables)

12 Months Ended

Dec. 31, 2019

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

Share-based Compensation, Stock Options, Activity

No options were awarded in 2019, 2018 or 2017. The following table presents the changes in stock options outstanding and related information for our employees during the years ended December 31, 2019, 2018 and 2017:



	Options		Weighted Average Exercise Price Per Share		Weighted Average Contractual Life (Years)	Intrinsic Value (Thousands)
Outstanding Options at December 31, 2016	165,886		$	17.98	4.6	$	—
Forfeited / Expired	(20,085	)	18.10
Outstanding Options at December 31, 2017	145,801		$	17.97	4.5	$	—
Outstanding Options at December 31, 2018	145,801		$	17.97	3.3	$	—
Outstanding Options at December 31, 2019	145,801		$	17.97	2.3	$	—

Exercisable Options at December 31, 2017	139,491		$	17.79	4.2	$	—
Exercisable Options at December 31, 2018	145,801		$	17.97	3.3	$	—
Exercisable Options at December 31, 2019	145,801		$	17.97	2.3	$	—

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

The following table summarizes information for outstanding options of our employees at December 31, 2019:



	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number Outstanding as of December 31, 2019	Weighted Average Remaining Contractual Life	Weighted Average Exercise Price		Number Exercisable as of December 31, 2019	Weighted Average Exercise Price
$16.43	63,142	1.13	$	16.43	63,142	$	16.43
$17.48	29,849	3.14	$	17.48	29,849	$	17.48
$18.43	27,553	2.13	$	18.43	27,553	$	18.43
$21.87	25,257	4.14	$	21.87	25,257	$	21.87
16.43 -21.87	145,801	2.25	$	17.97	145,801	$	17.97

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

The following table presents the changes in restricted share awards, restricted share units and deferred share awards outstanding and related information for our employees and non-employee directors during the years ended December 31, 2019, 2018 and 2017:



	Number of Awards/Units		Weighted Average Grant Date Fair Value Per Share
Nonvested shares at December 31, 2016	1,298,372		$	4.41
Granted	1,655,067		3.14
Vested	(733,147	)	4.19
Forfeited	(49,968	)	3.43
Nonvested shares at December 31, 2017	2,170,324		$	3.54
Granted	2,861,775		3.42
Vested	(1,247,522	)	3.92
Forfeited	(101,839	)	3.69
Nonvested shares at December 31, 2018	3,682,738		$	3.31
Granted	1,725,018		2.29
Vested	(1,628,577	)	3.26
Forfeited	(97,643	)	3.23
Nonvested shares at December 31, 2019	3,681,536		$	2.86

Schedule of Nonvested Share Activity

The following table presents the changes in phantom share awards outstanding and related information for our employees during the years ended December 31, 2019, 2018 and 2017:



	Number of Awards
Nonvested shares at December 31, 2016	6,269,964
Granted	750,525
Vested	(2,207,589	)
Forfeited	(263,161	)
Nonvested shares at December 31, 2017	4,549,739
Granted	—
Vested	(2,270,214	)
Forfeited	(12,951	)
Nonvested shares at December 31, 2018	2,266,574
Granted	1,415,277
Vested	(2,059,656	)
Forfeited	(12,687	)
Nonvested shares at December 31, 2019	1,609,508

Schedule of Share-based Payment Award, Performance Share Awards, Valuation Assumptions

The initial TSR performance was based on historical performance of our common shares and the peer group’s common shares.



	2019		2018		2017
Risk-free weighted interest rate	2.5	%	2.4	%	1.5	%
Expected volatility	68.0	%	79.0	%	90.0	%
Initial TSR	0.7	%	(0.4	)%	0.04	%

Share-based Compensation, Performance Shares Award Nonvested Activity

The following table presents the changes in performance share awards outstanding and related information for our employees during the year ended December 31, 2019, 2018 and 2017:



	Number of Awards		Weighted Average Grant Date Fair Value Per Share
Nonvested shares at December 31, 2016	1,951,684		$	3.18
Granted	762,497		5.20
Vested	—		—
Forfeited	(38,699	)	3.64
Nonvested shares at December 31, 2017	2,675,482		$	3.75
Granted	848,830		5.30
Vested	—		—
Forfeited	—		—
Nonvested shares at December 31, 2018	3,524,312		$	4.12
Granted	1,184,599		3.73
Performance adjustment (1)	1,921,865		2.93
Vested	(3,843,730	)	2.93
Forfeited	—		—
Nonvested shares at December 31, 2019	2,787,046		$	4.61


(1)	Related to 2016 performance share awards that vested in 2019, which were paid out at 200% based on Civeo's TSR rank.

Details of Selected Balance Sheet Accounts - Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Accrued liabilities:
Accrued compensation	$ 17,169	$ 13,545
Accrued taxes, other than income taxes	3,152	2,177
Other	1,434	234
Total accrued liabilities	$ 21,755	$ 15,956

Assets Held for Sale - Carrying Amount of Assets Held for Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Assets held for sale:
Property, plant and equipment, net	$ 7,589	$ 10,297
Total assets held for sale	$ 7,589	$ 10,297

Share Based Compensation - Valuation Assumptions of Performance Share Awards (Details) - Civeo Plan - Performance Shares			12 Months Ended
	Feb. 21, 2017	Feb. 23, 2016	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility			68.00%	79.00%	90.00%
Initial TSR			0.70%	(0.40%)	0.04%
Weighted Average
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free weighted interest rate			2.50%	2.40%	1.50%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of participant target performance share award	0.00%	0.00%	0.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of participant target performance share award	200.00%	200.00%	200.00%

Assets Held for Sale

12 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Assets Held for Sale

ASSETS HELD FOR SALE

During the fourth quarter of 2017, we made the decision to dispose of our modular construction and manufacturing plant near Edmonton, Alberta, Canada due to changing geographic and market needs. Accordingly, the facility met the criteria of held for sale. Its estimated fair value (less the cost to sell) of $4.8 million exceeded its carrying value. Additionally, we have discontinued depreciation of the facility. The facility is part of our Canada segment.

Certain undeveloped land positions in the British Columbia LNG market in our Canada segment previously met the criteria of held for sale. During the first quarter of 2019, we received $4.0 million in proceeds from the sale of four different land positions. The remaining assets are recorded at the estimated fair value (less costs to sell) of approximately $1.7 million.

In addition, as a result of the Noralta Acquisition, Noralta’s corporate offices located on two adjacent property titles in Nisku, Alberta, Canada were closed. During the fourth quarter of 2018, we sold one property. The remaining property is recorded at the estimated fair value (less costs to sell) of approximately $1.1 million.

The following table summarizes the carrying amount as of December 31, 2019 and 2018 of the assets classified as held for sale (in thousands):



	December 31, 2019		December 31, 2018
Assets held for sale:
Property, plant and equipment, net	$	7,589	$	10,297
Total assets held for sale	$	7,589	$	10,297

Leases - Narrative (Details) $ in Millions	12 Months Ended
Leases - Narrative (Details) $ in Millions	Dec. 31, 2019 USD ($) segment	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Lessee, Lease, Description [Line Items]
Number of reportable segments \| segment	3
Options to extend operating leases	10 years
Options to terminate leases	90 days
Operating lease expense	$ 6.8	$ 6.8	$ 5.6
Cash payment for leases	6.6
Right-of-use asset obtained in exchange for new lease obligation	$ 5.3
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	8 years

Segment and Related Information - Financial Information by Business Segment (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Total Revenues	$ 148,689	$ 148,163	$ 122,153	$ 108,550	$ 114,520	$ 120,491	$ 130,177	$ 101,504	$ 527,555	$ 466,692	$ 382,276
Depreciation and amortization									123,768	125,846	126,443
Operating (loss) income									(49,051)	(88,055)	(97,971)
Capital expenditures									29,812	17,108	11,194
Total assets	969,912				1,001,677				969,912	1,001,677	853,912
Canada
Segment Reporting Information [Line Items]
Total Revenues									325,651	296,012	245,595
Depreciation and amortization									66,557	66,980	69,983
Operating (loss) income									(32,313)	(63,519)	(63,211)
Capital expenditures									22,124	6,025	3,893
Total assets	850,361				804,618				850,361	804,618	550,378
Australia
Segment Reporting Information [Line Items]
Total Revenues									156,093	119,238	111,221
Depreciation and amortization									39,116	40,441	45,699
Operating (loss) income									517	(1,950)	(11,528)
Capital expenditures									3,456	4,658	2,772
Total assets	278,268				292,271				278,268	292,271	353,840
United States
Segment Reporting Information [Line Items]
Depreciation and amortization									10,987	10,626	4,653
Operating (loss) income									(11,214)	(8,640)	(14,426)
Capital expenditures									3,104	5,388	1,912
Total assets	46,862				60,282				46,862	60,282	33,128
Corporate and eliminations
Segment Reporting Information [Line Items]
Depreciation and amortization									7,108	7,799	6,108
Operating (loss) income									(6,041)	(13,946)	(8,806)
Capital expenditures									1,128	1,037	2,617
Total assets	$ (205,579)				$ (155,494)				(205,579)	(155,494)	(83,434)
Operating Segments
Segment Reporting Information [Line Items]
Total Revenues									527,555	466,692
Operating Segments \| Canada
Segment Reporting Information [Line Items]
Total Revenues									325,651	296,012	245,595
Operating Segments \| Australia
Segment Reporting Information [Line Items]
Total Revenues									156,093	119,238	111,221
Operating Segments \| United States
Segment Reporting Information [Line Items]
Total Revenues									45,811	51,442	25,460
Consolidation, Eliminations \| Corporate and eliminations
Segment Reporting Information [Line Items]
Total Revenues									$ 0	$ 0	$ 0

Preferred Shares (Tables)

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Schedule of Preferred Dividends

During the years ended December 31, 2019 and 2018, we recognized preferred dividends on the Preferred Shares as follows (in thousands):



	2019		2018
Deemed dividend on beneficial conversion feature at April 2, 2018	$	—	$	47,849
In-kind dividends	1,849		1,459
Deemed dividend on beneficial conversion feature related to in-kind dividend	—		281
Total preferred dividends	$	1,849	$	49,589

Asset Retirement Obligations - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Asset Retirement Obligation Disclosure [Abstract]
Accretion of discount	$ 1,538	$ 1,689	$ 1,353

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Net operating loss	$ 97,920	$ 92,600
Employee benefits	3,082	2,972
Deductible goodwill and other intangibles	26,030	20,142
Other reserves	6,150	6,903
Unearned revenue	441	868
Operating lease liabilities	6,499
Other	3,242	2,000
Deferred tax assets	143,364	125,485
Valuation allowance	(84,503)	(82,833)
Deferred tax assets, net	58,861	42,652
Deferred tax liabilities:
Depreciation and amortization	(62,296)	(61,094)
Operating lease right-of-use assets	(6,017)
Deferred tax liabilities	(68,313)	(61,094)
Net deferred tax liability	$ (9,452)	$ (18,442)

Impairment Charges

12 Months Ended

Dec. 31, 2019

Asset Impairment Charges [Abstract]

Impairment Charges

IMPAIRMENT CHARGES

2019 Impairment Charges

The following summarizes pre-tax impairment charges recorded during 2019, which are included in Impairment expense in our consolidated statements of operations (in thousands):



	Canada		Australia		U.S.		Total
Quarter ended June 30, 2019
Long-lived assets	$	—	$	5,546	$	—	$	5,546
Quarter ended December 31, 2019
Long-lived assets	702		—		—		702
Goodwill	19,900		—		—		19,900
Total	$	20,602	$	5,546	$	—	$	26,148

Quarter ended December 31, 2019. In performing our annual goodwill impairment test as of November 30, 2019, we compared the fair value of our reporting units to their respective carrying values. The carrying amount of our Canada reporting unit exceeded the reporting unit's fair value. Based on the results of the impairment test, we recognized an impairment expense of $19.9 million related to our Canadian reporting unit.

During the fourth quarter of 2019, we recorded an impairment expense of $0.7 million related to corporate office space in Canada. The facility is held for sale and recorded at the estimated fair value (less costs to sell) and was reduced due to a recent appraisal report.

Quarter ended June 30, 2019. During the second quarter of 2019, we identified indicators that certain long-lived assets in Australia may be impaired due to market developments, including the non-renewal of certain land development approval agreements. We assessed the carrying values of the related assets to determine if they continued to be recoverable based on estimated future cash flows. Based on the assessment, the carrying values were determined to not be fully recoverable, and we proceeded to compare the estimated fair value of the assets to their respective carrying values. Accordingly, the assets were written down to their estimated fair values of $0.5 million. As a result of the analysis described above, we recorded an impairment expense of $4.5 million.

Additionally, during the second quarter of 2019, we identified a liability related to an ARO at one of our villages in Australia that should have been recorded in 2011. We determined that the error was not material to our previously issued financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2018, and therefore, corrected the error in the second quarter of 2019. Specifically, we recorded the following amounts in our second quarter 2019 unaudited consolidated statement of operations related to prior periods: (1) additional accretion expense related to the ARO of $0.9 million, (2) additional depreciation and amortization expense of $0.5 million related to amortization of the related asset retirement cost and (3) additional impairment expense related to the impairment of the asset retirement cost of $1.0 million offset by recognition of an ARO liability totaling $2.3 million as of June 30, 2019.

2018 Impairment Charges

The following summarizes pre-tax impairment charges recorded during 2018, which are included in Impairment expense in our consolidated statements of operations (in thousands):



	Canada		Australia		U.S.		Total
Quarter ended March 31, 2018
Long-lived assets	$	28,661	$	—	$	—	$	28,661
Total	$	28,661	$	—	$	—	$	28,661

Quarter ended March 31, 2018. During the first quarter of 2018, we identified an indicator that certain long-lived assets used in the Canadian oil sands may be impaired due to market developments, including expected customer commitments, occurring in the first quarter of 2018. For purposes of our impairment assessment, we separated two lodges that were previously treated as a single asset group due to the lodges no longer being used together to generate joint cash flows. We assessed the carrying value of the asset group to determine if it continued to be recoverable based on estimated future cash flows. Based on the assessment, the carrying value was determined to not be fully recoverable, and we proceeded to compare the estimated fair value of the asset group to its respective carrying value. Accordingly, the value of one of the lodges was written down to its estimated fair value of zero. As a result of the analysis described above, we recorded an impairment expense of $28.7 million.

2017 Impairment Charges

The following summarizes pre-tax impairment charges recorded during 2017, which are included in Impairment expense in our consolidated statements of operations (in thousands):



	Canada		Australia		U.S.		Total
Quarter ended September 30, 2017
Long-lived assets	$	4,360	$	—	$	—	$	4,360
Quarter ended December 31, 2017
Long-lived assets	27,244		—		—		27,244
Total	$	31,604	$	—	$	—	$	31,604

Quarter ended December 31, 2017. During the fourth quarter of 2017, we identified an indicator that certain asset groups used in the southern Canadian oil sands may be impaired due to market developments, including project delays, occurring in the fourth quarter of 2017. We assessed the carrying value of each of the asset groups in the southern portion of the region to determine if they continued to be recoverable based on their estimated future cash flows. Based on the assessment, the carrying values of two of our lodges were determined to not be fully recoverable, and we proceeded to compare the estimated fair value of those assets groups to their respective carrying values. Accordingly, the value of the two lodges was written down to their estimated fair values of zero. As a result of the analysis described above, we recorded an impairment expense of $27.2 million.

Quarter ended September 30, 2017. During the third quarter of 2017, we made the decision to vacate a mobile camp facility in Canada and relocated the assets to a newly awarded contract for a Canadian mobile camp. We assessed the carrying value of the remaining assets to determine if they continued to be recoverable based on their estimated future cash flows. Based on the assessment, the carrying values of certain leasehold improvements were determined to not be fully recoverable, and we proceeded to compare the estimated fair value of those assets to their respective carrying values. Accordingly, the value of the remaining leasehold improvements were written down to their estimated fair value of zero. As a result of the analysis described above, we recorded an impairment expense of $3.2 million associated with our leased properties in Canada.

We also recorded an impairment expense of $1.2 million related to undeveloped land positions in Canada, the fair market value of which was negatively impacted by the cancellation during 2017 of an LNG project in British Columbia.

Asset Retirement Obligations - Asset Retirement Obligations (ARO) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligations	$ 18,796	$ 18,381	$ 17,185	$ 17,584
Less: Asset retirement obligations due within one year	3,197	4,443
Long-term asset retirement obligations	$ 15,599	$ 13,938

Debt - Long-term Debt Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Maturities of Long-term Debt [Abstract]
2020	$ 35,427
2021	323,653
Debt, gross	$ 359,080	$ 379,176

Debt

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Debt

DEBT

As of December 31, 2019 and 2018, long-term debt consisted of the following (in thousands):



	December 31, 2019		December 31, 2018
Canadian term loan, which matures on November 30, 2021 (except for non-extending lenders - see below); 3.125% of aggregate principal repayable per quarter; weighted average interest rate of 5.8% for the twelve-month period ended December 31, 2019	224,963		247,910
U.S. revolving credit facility, which matures on November 30, 2021 (except for non-extending lenders - see below), weighted average interest rate of 7.6% for the twelve-month period ended December 31, 2019	—		—
Canadian revolving credit facility, which matures on November 30, 2021 (except for non-extending lenders - see below), weighted average interest rate of 6.7% for the twelve-month period ended December 31, 2019	134,117		114,348
Australian revolving credit facility, which matures on November 30, 2021 (except for non-extending lenders - see below), weighted average interest rate of 5.3% for the twelve-month period ended December 31, 2019	—		16,918
	359,080		379,176
Less: Unamortized debt issuance costs	2,208		2,939
Total debt	356,872		376,237
Less: Current portion of long-term debt, including unamortized debt issuance costs, net	35,080		33,329
Long-term debt, less current maturities	$	321,792	$	342,908

Scheduled maturities of long-term debt as of December 31, 2019 are as follows (in thousands):



	Year Ending December 31,
2020	35,427
2021	323,653
	$	359,080

Credit Agreement

As of December 31, 2018, our credit agreement, as then amended, provided for: (i) a $239.5 million revolving credit facility scheduled to mature on November 30, 2020, allocated as follows: (A) a $20.0 million senior secured revolving credit facility in favor of certain of our U.S. subsidiaries, as borrowers; (B) a $159.5 million senior secured revolving credit facility in favor of Civeo and certain of our Canadian subsidiaries, as borrowers; and (C) a $60.0 million senior secured revolving credit facility in favor of one of our Australian subsidiaries, as borrower; and (ii) a $285.4 million term loan facility scheduled to mature on November 30, 2020 in favor of Civeo.

On September 30, 2019, we amended our credit agreement (as so amended, from time to time, the Credit Agreement), which, among other things:


•	increased the aggregate revolving loan commitments by $24.0 million under the Credit Agreement, to a maximum principal amount of $183.5 million under the Canadian revolving credit facility until November 30, 2020, which will be reduced thereafter to reflect the termination of the commitments of the non-extending lenders described below;

•

extended the maturity date of the commitments and loans of certain lenders to November 30, 2021. Two lenders did not extend the maturity date of their commitments and loans. At the date of the amendment, one non-extending lender has outstanding Canadian term loans of $6.9 million, a Canadian revolving commitment of $15.7 million and an Australian revolving commitment of $10.4 million that matures on November 30, 2020. The other non-extending lender has a U.S. revolving commitment of $7.4 million and a Canadian revolving commitment of $22.5 million that matures on November 30, 2020; and


•	adjusted the maximum leverage ratio financial covenant as follows:

If a qualified offering of indebtedness with gross proceeds in excess of $150.0 million has been consummated, a maximum leverage ratio of 4.00 to 1.00 and, if such qualified offering has not been consummated, a maximum leverage ratio not to exceed the ratios set forth in the following table:



Period Ended	Maximum Leverage Ratio
December 31, 2019	4.00 : 1:00
March 31, 2020, June 30, 2020 & September 30, 2020	3:75 : 1:00
December 31, 2020 & thereafter	3.50 : 1:00

As of December 31, 2019, one non-extending lender had outstanding Canadian term loans of $6.8 million and an outstanding Canadian revolver loan of $11.5 million that matures on November 30, 2020. The other non-extending lender had an outstanding Canadian revolver loan of $16.4 million that matures on November 30, 2020. Maturities in 2020 are not classified as current as of December 31, 2019, since we are able and have the intent to extend the stated maturities by borrowing amounts equal to the 2020 maturities under the revolving credit facility, with a maturity date after one year.

U.S. dollar amounts outstanding under the facilities provided by the Credit Agreement bear interest at a variable rate equal to LIBOR plus a margin of 2.25% to 4.00%, or a base rate plus 1.25% to 3.00%, in each case based on a ratio of our total debt to consolidated EBITDA (as defined in the Credit Agreement). Canadian dollar amounts outstanding bear interest at a variable rate equal to a B/A Discount Rate based on the Canadian Dollar Offered Rate plus a margin of 2.25% to 4.00%, or a Canadian Prime rate plus a margin of 1.25% to 3.00%, in each case based on a ratio of our total debt to consolidated EBITDA. Australian dollar amounts outstanding under the Credit Agreement bear interest at a variable rate equal to the Bank Bill Swap Bid Rate plus a margin of 2.25% to 4.00%, based on a ratio of our total debt to consolidated EBITDA. The future transitions from LIBOR and CDOR as interest rate benchmarks is addressed in the Credit Agreement and at such time the transition from LIBOR or CDOR takes place, we will endeavor with the administrative agent to establish an alternate rate of interest to LIBOR or CDOR that gives due consideration to (1) the then prevailing market convention for determining a rate of interest for syndicated loans in the United States at such time for the replacement of LIBOR and (2) any evolving or then existing convention for similar Canadian Dollar denominated syndicated credit facilities for the replacement of CDOR.

The Credit Agreement contains customary affirmative and negative covenants that, among other things, limit or restrict: (i) indebtedness, liens and fundamental changes; (ii) asset sales; (iii) acquisitions of margin stock; (iv) specified acquisitions; (v) certain restrictive agreements; (vi) transactions with affiliates; and (vii) investments and other restricted payments, including dividends and other distributions. In addition, we must maintain an interest coverage ratio, defined as the ratio of consolidated EBITDA to consolidated interest expense, of at least 3.0 to 1.0 and our maximum leverage ratio, defined as the ratio of total debt to consolidated EBITDA, of no greater than 4.0 to 1.0 (as of December 31, 2019). As noted above, the permitted maximum leverage ratio changes over time. Following a qualified offering of indebtedness with gross proceeds in excess of $150 million, we will be required to maintain a maximum senior secured ratio less than 2.50 to 1.0. Each of the factors considered in the calculations of these ratios are defined in the Credit Agreement. EBITDA and consolidated interest, as defined, exclude goodwill and asset impairments, debt discount amortization, amortization of intangibles and other non-cash charges. We were in compliance with our covenants as of December 31, 2019.

Borrowings under the Credit Agreement are secured by a pledge of substantially all of our assets and the assets of our subsidiaries. The obligations under the Credit Agreement are guaranteed by our significant subsidiaries. As of December 31, 2019, we had ten lenders that were parties to the Credit Agreement, with total commitments (including both revolving commitments and term commitments) ranging from $24.9 million to $85.4 million. As of December 31, 2019, we had outstanding letters of credit of $0.3 million under the U.S facility, $0.5 million under the Australian facility and $1.2 million under the Canadian facility.

In addition to the Credit Agreement, we have an A$2.0 million bank guarantee facility, which matures March 31, 2020. There were bank guarantees of A$0.7 million under this facility outstanding as of December 31, 2019.

Income Taxes - Consolidated Pre-tax Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Canada operations	$ (60,372)	$ (100,874)	$ (87,143)
Foreign operations	(8,703)	(12,338)	(31,601)
Loss before income taxes	$ (69,075)	$ (113,212)	$ (118,744)

Fair Value Measurements	12 Months Ended
Fair Value Measurements	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Our financial instruments consist of cash and cash equivalents, receivables, payables and debt instruments. We believe that the carrying values of these instruments on the accompanying consolidated balance sheets approximate their fair values. As of December 31, 2019 and 2018, we believe the carrying value of our floating-rate debt outstanding under our term loans and revolving credit facilities approximates fair value because the terms include short-term interest rates and exclude penalties for prepayment. We estimated the fair value of our floating-rate term loan and revolving credit facilities using significant other observable inputs, representative of a Level 2 fair value measurement, including terms and credit spreads for these loans. During 2019, 2018 and 2017, we wrote down certain long-lived assets to fair value. During the fourth quarter of 2019, we also recorded a goodwill impairment charge related to one of our reporting units. Our estimates of fair value required us to use significant unobservable inputs, representative of Level 3 fair value measurements, including numerous assumptions with respect to future circumstances that might directly impact each of the relevant asset groups’ operations in the future and are therefore uncertain. These assumptions with respect to future circumstances included future oil, met coal and natural gas prices, anticipated spending by our customers, the cost of capital, and industry and/or local market conditions. During the fourth quarter of 2019 and the third quarter of 2017, our estimates of fair value of corporate office space in Canada and certain undeveloped land positions in British Columbia were based on appraisals from third parties. Please see Note 2 – Summary of Significant Accounting Policies – Impairment of Long-Lived Assets and Note 2 – Summary of Significant Accounting Policies – Goodwill and Other Intangible Assets for further discussion of the significant judgments and assumptions used in calculating their fair value. During 2019 and 2018, we acquired certain assets and businesses and recorded them at fair value. Determining the fair value of assets acquired and liabilities assumed requires the exercise of significant judgment, including the amount and timing of expected future cash flows, long-term growth rates and discount rates. The cash flows employed in the valuation are based on our best estimates of future sales, earnings and cash flows after considering factors such as general market conditions, expected future customer orders, contracts with suppliers, labor costs, changes in working capital, long term business plans and recent operating performance. Please see Note 7 – Acquisitions for further information.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Goodwill and Other Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 200,206	$ 192,650
Accumulated Amortization	(88,398)	(73,270)
Indefinite-Lived Intangible Assets Not Subject to Amortization	29	29
Total intangible assets	200,235	192,679
Licenses
Finite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets Not Subject to Amortization	29	29
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	41,693	41,809
Accumulated Amortization	(38,104)	(34,754)
Trade name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,450	1,393
Accumulated Amortization	(1,529)	(1,388)
Contracts / agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	155,063	147,090
Accumulated Amortization	(48,765)	(36,930)
Favorable lease contract
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	0	2,358
Accumulated Amortization	$ 0	$ (198)

Valuation Accounts - Activity in Valuation Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 82,833	$ 90,663
Balance at End of Period	84,503	82,833	$ 90,663
Allowance for doubtful accounts receivable
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	376	1,338	638
Charged (Reduction) to Costs and Expenses	(5)	(787)	48
Deductions (Net of Recoveries)	(122)	(143)	(23)
Translation and Other, Net	4	(32)	675
Balance at End of Period	253	376	1,338
Valuation allowance for deferred tax assets
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	82,833	90,663	76,157
Charged (Reduction) to Costs and Expenses	2,257	(622)	10,083
Deductions (Net of Recoveries)	(499)	(1,119)	(242)
Translation and Other, Net	(88)	(6,089)	4,665
Balance at End of Period	$ 84,503	$ 82,833	$ 90,663

Revenue - Disaggregation of Revenue (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2019 USD ($) segment	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Disaggregation of Revenue [Line Items]
Number of reporting units \| segment									3
Revenues	$ 148,689	$ 148,163	$ 122,153	$ 108,550	$ 114,520	$ 120,491	$ 130,177	$ 101,504	$ 527,555	$ 466,692	$ 382,276
Canada
Disaggregation of Revenue [Line Items]
Revenues									325,651	296,012	245,595
Australia
Disaggregation of Revenue [Line Items]
Revenues									156,093	119,238	111,221
U.S.
Disaggregation of Revenue [Line Items]
Revenues									45,811	51,442	25,460
Accommodation revenues \| Canada
Disaggregation of Revenue [Line Items]
Revenues									281,577	266,899	228,062
Accommodation revenues \| Australia
Disaggregation of Revenue [Line Items]
Revenues									126,047	117,896	111,221
Accommodation revenues \| U.S.
Disaggregation of Revenue [Line Items]
Revenues									12,462	18,288	9,832
Mobile facility rental revenues \| Canada
Disaggregation of Revenue [Line Items]
Revenues									9,575	9,316	3,935
Mobile facility rental revenues \| U.S.
Disaggregation of Revenue [Line Items]
Revenues									28,119	20,389	8,764
Food service and other services revenues \| Canada
Disaggregation of Revenue [Line Items]
Revenues									33,485	15,601	11,891
Food service and other services revenues \| Australia
Disaggregation of Revenue [Line Items]
Revenues									30,046	1,342	0
Food service and other services revenues \| U.S.
Disaggregation of Revenue [Line Items]
Revenues									145	170	171
Manufacturing revenues \| Canada
Disaggregation of Revenue [Line Items]
Revenues									1,014	4,196	1,707
Manufacturing revenues \| U.S.
Disaggregation of Revenue [Line Items]
Revenues									$ 5,085	$ 12,595	$ 6,693

Assets Held for Sale (Tables)

12 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following table summarizes the carrying amount as of December 31, 2019 and 2018 of the assets classified as held for sale (in thousands):



	December 31, 2019		December 31, 2018
Assets held for sale:
Property, plant and equipment, net	$	7,589	$	10,297
Total assets held for sale	$	7,589	$	10,297

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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+ Details

Share Based Compensation - Phantom Share Awards Activity (Details) - Civeo Plan - Phantom Share Units (PSUs) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested shares at the beginning of period	2,266,574	4,549,739	6,269,964
Granted	1,415,277	0	750,525
Vested	(2,059,656)	(2,270,214)	(2,207,589)
Forfeited	(12,687)	(12,951)	(263,161)
Nonvested shares at the end of period	1,609,508	2,266,574	4,549,739

Revenue (Tables)

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table disaggregates our revenue by our three reporting segments: Canada, Australia and the U.S., and major categories for the years ended December 31, 2019, 2018 and 2017 (in thousands):



	2019		2018		2017
Canada
Accommodation revenues	$	281,577	$	266,899	$	228,062
Mobile facility rental revenues	9,575		9,316		3,935
Food service and other services revenues	33,485		15,601		11,891
Manufacturing revenues	1,014		4,196		1,707
Total Canada revenues	325,651		296,012		245,595

Australia
Accommodation revenues	$	126,047	$	117,896	$	111,221
Food service and other services revenues	30,046		1,342		—
Total Australia revenues	156,093		119,238		111,221

United States
Accommodation revenues	$	12,462	$	18,288	$	9,832
Mobile facility rental revenues	28,119		20,389		8,764
Manufacturing revenues	5,085		12,595		6,693
Food service and other services revenues	145		170		171
Total United States revenues	45,811		51,442		25,460

Total revenues	$	527,555	$	466,692	$	382,276

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

As of December 31, 2019, for contracts that are greater than one year, the table below discloses the estimated revenues related to performance obligations that are unsatisfied (or partially unsatisfied) and when we expect to recognize the revenue (in thousands):



	For the years ending December 31,
	2020		2021		2022		Thereafter		Total
Revenue expected to be recognized as of December 31, 2019	$	140,846	$	52,962	$	22,706	$	8,413	$	224,927

Share Based Compensation - Performance Share Awards Activity (Details) - Performance Shares - Civeo Plan - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Number of Awards (in shares)
Nonvested shares at the beginning of period	3,524,312	2,675,482	1,951,684
Granted	1,184,599	848,830	762,497
Performance adjustment	1,921,865
Vested	(3,843,730)	0	0
Forfeited	0	0	(38,699)
Nonvested shares at the end of period	2,787,046	3,524,312	2,675,482
Weighted Average Grant Date Fair Value Per Share
Nonvested at beginning of period	$ 4.12	$ 3.75	$ 3.18
Granted	3.73	5.30	5.20
Performance adjustment	2.93
Vested	2.93	0.00	0.00
Forfeited	0.00	0.00	3.64
Nonvested at end of period	$ 4.61	$ 4.12	$ 3.75

Leases - Operating Leases Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Operating leases
Operating lease right-of-use assets	$ 24,876	$ 0
Liabilities [Abstract]
Other current liabilities	5,543
Operating lease liabilities	21,231	$ 0
Total operating lease liabilities	$ 26,774
Weighted average remaining lease term, operating leases	6 years 2 months 12 days
Weighted average discount rate, operating leases	5.90%

Share Based Compensation - Restricted Stock Awards and Deferred Stock Awards (Details) - Restricted Stock and Deferred Stock Awards - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Number of Awards (in shares)
Nonvested shares at the beginning of period	3,682,738	2,170,324	1,298,372
Granted	1,725,018	2,861,775	1,655,067
Vested	(1,628,577)	(1,247,522)	(733,147)
Forfeited	(97,643)	(101,839)	(49,968)
Nonvested shares at the end of period	3,681,536	3,682,738	2,170,324
Weighted Average Grant Date Fair Value Per Share
Nonvested at beginning of period	$ 3.31	$ 3.54	$ 4.41
Granted	2.29	3.42	3.14
Vested	3.26	3.92	4.19
Forfeited	3.23	3.69	3.43
Nonvested at end of period	$ 2.86	$ 3.31	$ 3.54

Share Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Options (in shares)
Outstanding, beginning of period	145,801	145,801	165,886
Forfeited / Expired			(20,085)
Outstanding, end of period	145,801	145,801	145,801	165,886
Exercisable options at end of period	145,801	145,801	139,491
Weighted Average Exercise Price Per Share
Outstanding, beginning of period (in usd per share)	$ 17.97	$ 17.97	$ 17.98
Forfeited / Expired (in usd per share)			18.10
Outstanding, end of period (in usd per share)	17.97	17.97	17.97	$ 17.98
Exercisable at end of period (in usd per share)	$ 17.97	$ 17.97	$ 17.79
Weighted Average Contractual Life (Years)
Outstanding, weighted average contractual life (in years)	2 years 100 days	3 years 100 days	4 years 182 days	4 years 219 days
Exercisable, weighted average contractual life (in years)	2 years 100 days	3 years 100 days	4 years 73 days
Intrinsic Value (Thousands)
Outstanding	$ 0	$ 0	$ 0	$ 0
Exercisable	$ 0	$ 0	$ 0

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Carrying Amount of Goodwill

Changes in the carrying amount of goodwill from December 31, 2018 to December 31, 2019 are as follows (in thousands):



	Canada			Australia		U.S.		Total
Balance as of December 31, 2017	$	—		$	—	$	—	$	—
Noralta Acquisition (1)	120,893			—		—		120,893
Foreign currency translation	(6,686		)	—		—		(6,686		)
Balance as of December 31, 2018	114,207			—		—		114,207
Action acquisition (1)	—			7,923		—		7,923
Measurement period adjustments for Noralta Acquisition (2)	2,676			—		—		2,676
Foreign currency translation	5,255			12		—		5,267
Goodwill impairment (3)	(19,900		)	—		—		(19,900		)
Balance as of December 31, 2019	$	102,238		$	7,935	$	—	$	110,173


(1)	Please see Note 7 – Acquisitions for further information.


(2)	The measurement period adjustment related to the Noralta Acquisition was a result of the first quarter 2019 finalization of our purchase price allocation and valuation related to intangible assets acquired.


(3)	Please see Note 4 – Impairment Charges for further information.

Schedule of Amortization of Intangible Assets

The following table presents the total amount of other intangible assets and the related accumulated amortization for major intangible asset classes as of December 31, 2019 and 2018 (in thousands):



	December 31,					December 31,
	2019					2018
	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Amortizable Intangible Assets
Customer relationships	$	41,693	$	(38,104	)	$	41,809	$	(34,754	)
Trade name	3,450		(1,529		)	1,393		(1,388		)
Contracts / agreements	155,063		(48,765		)	147,090		(36,930		)
Favorable lease contract	—		—			2,358		(198		)
Total amortizable intangible assets	$	200,206	$	(88,398	)	$	192,650	$	(73,270	)

Indefinite-Lived Intangible Assets Not Subject to Amortization
Licenses	29		—			29		—
Total indefinite-lived intangible assets	29		—			29		—
Total intangible assets	$	200,235	$	(88,398	)	$	192,679	$	(73,270	)

Schedule of Remaining Amortization of Finite-Lived Intangible Assets

As of December 31, 2019, the estimated remaining amortization of our amortizable intangible assets was as follows (in thousands):



	Year Ending December 31,
2020	$	12,671
2021	6,098
2022	6,098
2023	5,943
2024	5,943
Thereafter	75,055
Total	$	111,808

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2019	Feb. 21, 2020	Jun. 28, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	Civeo Corp
Entity Central Index Key	0001590584
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		169,661,527
Entity Public Float			$ 226,746,265
Document Type	10-K
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Small Business Flag	false
Entity Emerging Growth Company	false
Entity Shell Company	false

Valuation Accounts

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Valuation Accounts

VALUATION ACCOUNTS

Activity in the valuation accounts was as follows (in thousands):



	Balance at Beginning of Period		Charged (Reduction) to Costs and Expenses			Deductions (Net of Recoveries)			Translation and Other, Net			Balance at End of Period
Year Ended December 31, 2019:
Allowance for doubtful accounts receivable	$	376	$	(5	)	$	(122	)	$	4		$	253
Valuation allowance for deferred tax assets	82,833		2,257			(499		)	(88		)	84,503

Year Ended December 31, 2018:
Allowance for doubtful accounts receivable	$	1,338	$	(787	)	$	(143	)	$	(32	)	$	376
Valuation allowance for deferred tax assets	90,663		(622		)	(1,119		)	(6,089		)	82,833

Year Ended December 31, 2017:
Allowance for doubtful accounts receivable	$	638	$	48		$	(23	)	$	675		$	1,338
Valuation allowance for deferred tax assets	76,157		10,083			(242		)	4,665			90,663

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

GOODWILL AND OTHER INTANGIBLE ASSETS

Changes in the carrying amount of goodwill from December 31, 2018 to December 31, 2019 are as follows (in thousands):



	Canada			Australia		U.S.		Total
Balance as of December 31, 2017	$	—		$	—	$	—	$	—
Noralta Acquisition (1)	120,893			—		—		120,893
Foreign currency translation	(6,686		)	—		—		(6,686		)
Balance as of December 31, 2018	114,207			—		—		114,207
Action acquisition (1)	—			7,923		—		7,923
Measurement period adjustments for Noralta Acquisition (2)	2,676			—		—		2,676
Foreign currency translation	5,255			12		—		5,267
Goodwill impairment (3)	(19,900		)	—		—		(19,900		)
Balance as of December 31, 2019	$	102,238		$	7,935	$	—	$	110,173


(1)	Please see Note 7 – Acquisitions for further information.


(2)	The measurement period adjustment related to the Noralta Acquisition was a result of the first quarter 2019 finalization of our purchase price allocation and valuation related to intangible assets acquired.


(3)	Please see Note 4 – Impairment Charges for further information.

The following table presents the total amount of other intangible assets and the related accumulated amortization for major intangible asset classes as of December 31, 2019 and 2018 (in thousands):



	December 31,					December 31,
	2019					2018
	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Amortizable Intangible Assets
Customer relationships	$	41,693	$	(38,104	)	$	41,809	$	(34,754	)
Trade name	3,450		(1,529		)	1,393		(1,388		)
Contracts / agreements	155,063		(48,765		)	147,090		(36,930		)
Favorable lease contract	—		—			2,358		(198		)
Total amortizable intangible assets	$	200,206	$	(88,398	)	$	192,650	$	(73,270	)

Indefinite-Lived Intangible Assets Not Subject to Amortization
Licenses	29		—			29		—
Total indefinite-lived intangible assets	29		—			29		—
Total intangible assets	$	200,235	$	(88,398	)	$	192,679	$	(73,270	)

The weighted average remaining amortization period for all intangible assets, other than indefinite-lived intangibles, was 16.8 years as of December 31, 2019 and 16.6 years as of December 31, 2018. Amortization expense was $14.8 million, $17.6 million and $7.3 million in the years ended December 31, 2019, 2018 and 2017, respectively.

As of December 31, 2019, the estimated remaining amortization of our amortizable intangible assets was as follows (in thousands):



	Year Ending December 31,
2020	$	12,671
2021	6,098
2022	6,098
2023	5,943
2024	5,943
Thereafter	75,055
Total	$	111,808

Goodwill and Other Intangible Assets - Amortization Schedule (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2020	$ 12,671
2021	6,098
2022	6,098
2023	5,943
2024	5,943
Thereafter	75,055
Total	$ 111,808

Share Based Compensation - Stock Options Outstanding (Details)	12 Months Ended
	Dec. 31, 2019 $ / shares shares
Options Outstanding
Number Outstanding (in shares) \| shares	145,801
Weighted Average Remaining Contractual Life (in years)	2 years 91 days
Weighted Average Exercise Prices (in dollars per share)	$ 17.97
Options Exercisable
Number Outstanding (in shares) \| shares	145,801
Weighted Average Exercise Price (in dollars per share)	$ 17.97
Lower range of exercise prices (in dollars per share)	16.43
Upper range of exercise prices (in dollars per share)	$ 21.87
$16.43
Options Outstanding
Number Outstanding (in shares) \| shares	63,142
Weighted Average Remaining Contractual Life (in years)	1 year 47 days
Weighted Average Exercise Prices (in dollars per share)	$ 16.43
Options Exercisable
Number Outstanding (in shares) \| shares	63,142
Weighted Average Exercise Price (in dollars per share)	$ 16.43
$17.48
Options Outstanding
Number Outstanding (in shares) \| shares	29,849
Weighted Average Remaining Contractual Life (in years)	3 years 51 days
Weighted Average Exercise Prices (in dollars per share)	$ 17.48
Options Exercisable
Number Outstanding (in shares) \| shares	29,849
Weighted Average Exercise Price (in dollars per share)	$ 17.48
$18.43
Options Outstanding
Number Outstanding (in shares) \| shares	27,553
Weighted Average Remaining Contractual Life (in years)	2 years 47 days
Weighted Average Exercise Prices (in dollars per share)	$ 18.43
Options Exercisable
Number Outstanding (in shares) \| shares	27,553
Weighted Average Exercise Price (in dollars per share)	$ 18.43
$21.87
Options Outstanding
Number Outstanding (in shares) \| shares	25,257
Weighted Average Remaining Contractual Life (in years)	4 years 51 days
Weighted Average Exercise Prices (in dollars per share)	$ 21.87
Options Exercisable
Number Outstanding (in shares) \| shares	25,257
Weighted Average Exercise Price (in dollars per share)	$ 21.87

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net loss	$ (58,334)	$ (81,847)	$ (105,254)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment, net of taxes zero	8,076	(43,036)	35,038
Total other comprehensive income (loss), net of tax	8,076	(43,036)	35,038
Comprehensive loss	(50,258)	(124,883)	(70,216)
Less: Comprehensive income attributable to noncontrolling interest	157	396	780
Comprehensive loss attributable to Civeo Corporation	$ (50,415)	$ (125,279)	$ (70,996)

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Preferred Shares	Common Shares	Additional Paid-in Capital	Accumulated Deficit	Treasury Shares	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interest
Balance at Dec. 31, 2016	$ 475,990	$ 0	$ 0	$ 1,311,226	$ (472,764)	$ (65)	$ (362,930)	$ 523
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(105,254)				(105,713)			459
Currency translation adjustment	35,038						34,717	321
Dividends paid	(1,186)							(1,186)
Cumulative effect of implementation of ASU 2016-09				636	(636)
Issuance of shares for acquisitions	64,734			64,734
Share-based compensation	7,045			7,338		(293)
Balance at Dec. 31, 2017	476,367	0	0	1,383,934	(579,113)	(358)	(328,213)	117
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(81,847)				(82,243)			396
Currency translation adjustment	(43,036)						(43,036)
Dividends paid	(513)							(513)
Issuance of shares for acquisitions	173,854	6,972		166,882
Dividends attributable to Class A preferred shares	(49,589)	49,308		281	(49,589)
Share-based compensation	10,205			11,036		(831)
Balance at Dec. 31, 2018	535,424	56,280	0	1,562,133	(710,551)	(1,189)	(371,249)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of implementation of ASU 2014-09	(699)				(699)
Net income (loss)	(58,334)				(58,491)			157
Currency translation adjustment	8,076						8,076
Dividends paid	(182)							(182)
Dividends attributable to Class A preferred shares	(1,849)	1,849			(1,849)
Acquisition of noncontrolling interest	687							687
Share-based compensation	5,833			10,116		(4,283)
Balance at Dec. 31, 2019	$ 490,805	$ 58,129	$ 0	$ 1,572,249	$ (771,590)	$ (5,472)	$ (363,173)	$ 662

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The calculation of earnings per share attributable to Civeo common shareholders is presented below for the periods indicated (in thousands, except per share amounts):



	2019			2018			2017
Numerator:
Net loss attributable to Civeo common shareholders	$	(60,340	)	$	(131,832	)	$	(105,713	)
Less: income allocated to participating securities	—			—			—
Basic net income loss attributable to Civeo Corporation common shareholders	$	(60,340	)	$	(131,832	)	$	(105,713	)
Add: undistributed income attributable to participating securities	—			—			—
Less: undistributed income reallocated to participating securities	—			—			—
Diluted net loss attributable to Civeo Corporation common shareholders	$	(60,340	)	$	(131,832	)	$	(105,713	)

Denominator:
Weighted average shares outstanding - basic	167,047			157,231			128,365
Dilutive shares - share based awards	—			—			—
Weighted average shares outstanding - diluted	167,047			157,231			128,365

Basic net loss per share attributable to Civeo Corporation common shareholders (1)	$	(0.36	)	$	(0.84	)	$	(0.82	)

Diluted net loss per share attributable to Civeo Corporation common shareholders (1)	$	(0.36	)	$	(0.84	)	$	(0.82	)


(1)	Computations may reflect rounding adjustments.

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

The Company’s operations are conducted through various subsidiaries in a number of countries throughout the world. The Company has provided for income taxes based upon the tax laws and rates in the countries in which operations are conducted and income is earned.

Income tax benefit. Pre-tax loss for the years ended December 31, 2019, 2018 and 2017 consisted of the following (in thousands):



	2019			2018			2017
Canada operations	$	(60,372	)	$	(100,874	)	$	(87,143	)
Foreign operations	(8,703		)	(12,338		)	(31,601		)
Total	$	(69,075	)	$	(113,212	)	$	(118,744	)

The components of the income tax expense (benefit) for the years ended December 31, 2019, 2018 and 2017 consisted of the following (in thousands):



	2019			2018			2017
Current:
Canada	$	706		$	(1,151	)	$	(5,986	)
Foreign	266			1,189			1,472
Total	$	972		$	38		$	(4,514	)

Deferred:
Canada	$	(9,399	)	$	(31,403	)	$	(9,194	)
Foreign	(2,314		)	—			218
Total	$	(11,713	)	$	(31,403	)	$	(8,976	)

Net income tax benefit	$	(10,741	)	$	(31,365	)	$	(13,490	)

The net income tax benefit differs from an amount computed at Canadian statutory rates as follows for the years ended December 31, 2019, 2018 and 2017 (in thousands):



	2019					2018					2017
Canadian federal tax benefit at statutory rates	$	(10,361	)	15.0	%	$	(16,982	)	15.0	%	$	(17,812	)	15.0	%
Canadian provincial income tax	(5,158		)	7.5	%	(12,105		)	10.7	%	(10,457		)	8.8	%
Effect of foreign income tax, net	55			(0.1	)%	(1,756		)	1.6	%	(6,797		)	5.7	%
Valuation allowance – Other	2,257			(3.3	)%	(622		)	0.5	%	19,131			(16.1	)%
Enacted tax rate change - Canada	(2,452		)	3.5	%	—			—	%	598			(0.5	)%
U.S tax reform rate change	—			—	%	—			—	%	9,047			(7.6	)%
Valuation allowance - U.S. tax reform	—			—	%	—			—	%	(9,047		)	7.6	%
Goodwill impairment	4,689			(6.8	)%	—			—	%	—			—	%
Nondeductible compensation	1,203			(1.7	)%	181			(0.2	)%	—			—	%
Unrealized intercompany foreign currency translation gain	(1,451		)	2.1	%	—			—	%	—			—	%
Other, net	477			(0.7	)%	(81		)	0.1	%	1,847			(1.5	)%
Net income tax benefit	$	(10,741	)	15.5	%	$	(31,365	)	27.7	%	$	(13,490	)	11.4	%

Canadian Rate Change. Effective July 1, 2019, the Province of Alberta introduced a four-year graduated decrease in the income tax rate from 12% to 8% resulting in a decrease of our net deferred tax liability of $2.5 million. Our rate reconciliation for the years ended December 31, 2018 and 2017 has been recast to reconcile to the federal Canadian tax rate of 15% with the Canadian provincial income taxes reported separately from the federal income taxes.

US Tax Reform. The Tax Cuts and Jobs Act of 2017 (U.S. Tax Reform) was enacted in December 2017, resulting in a reduction to the corporate income tax rate from 35% to 21%. The impact of this reduction was a decrease of the U.S. net deferred tax asset of $9.0 million fully offset by a decrease in the U.S. valuation allowance of $9.0 million.

Deferred Tax Liabilities and Assets. The significant items giving rise to the deferred tax assets and liabilities as of December 31, 2019 and 2018 are as follows (in thousands):



	2019			2018
Deferred tax assets:
Net operating loss	$	97,920		$	92,600
Employee benefits	3,082			2,972
Deductible goodwill and other intangibles	26,030			20,142
Other reserves	6,150			6,903
Unearned revenue	441			868
Operating lease liabilities	6,499			—
Other	3,242			2,000
Deferred tax assets	143,364			125,485
Valuation allowance	(84,503		)	(82,833		)
Deferred tax assets, net	$	58,861		$	42,652
Deferred tax liabilities:
Depreciation and amortization	$	(62,296	)	$	(61,094	)
Operating lease right-of-use assets	(6,017		)	—
Deferred tax liabilities	(68,313		)	(61,094		)
Net deferred tax liability	$	(9,452	)	$	(18,442	)

NOL Carryforwards. The following table summarizes net operating loss (NOL) carryforwards at December 31, 2019 (in thousands):



	Amount		Expiration Period
Net operating loss carryforwards:
Canada – Federal and provincial	$	207,606	Begins to expire in 2035
Australia	109,355		Does not expire
U.S. – Federal	36,030		Begins to expire in 2036
U.S. – Federal	14,416		Does not expire
U.S. – State, tax effected	5,608		Begins to expire in 2020

Change in Valuation Allowance. Realization of our deferred tax assets is dependent upon, among other things, our ability to generate taxable income of the appropriate character in the future.

Changes in our valuation allowance for the years ended December 31, 2019 and 2018 are as follows (in thousands):



	Federal / State NOLs			Net Deferred Tax Assets			Other			Total
Balance as of December 31, 2017	$	(31,399	)	$	(58,518	)	$	(746	)	$	(90,663	)
Change in income tax provision	(1,464		)	2,086			—			622
Other change	(348		)	1,495			(28		)	1,119
Foreign currency translation	3,907			2,122			60			6,089
Balance as of December 31, 2018	(29,304		)	(52,815		)	(714		)	(82,833		)
Change in income tax provision	(456		)	(1,946		)	145			(2,257		)
Other change	1,095			(690		)	94			499
Foreign currency translation	52			68			(32		)	88
Balance as of December 31, 2019	$	(28,613	)	$	(55,383	)	$	(507	)	$	(84,503	)

During 2018, the addition of $51.5 million of deferred tax liabilities due to the Noralta Acquisition resulted in Canada no longer being considered a loss jurisdiction. Accordingly, a benefit of $4.9 million was recorded in the second quarter of 2018 to reverse the valuation allowance against the Canadian net deferred tax asset that was recorded in 2017.

Indefinite Reinvestment of Earnings. At December 31, 2019 and 2018, we had no undistributed earnings of foreign subsidiaries subject to income tax in Canada.

Unrecognized Tax Benefits. We file tax returns in the jurisdictions in which they are required. All of these returns are subject to examination or audit and possible adjustment as a result of assessments by taxing authorities. We believe that we have recorded sufficient tax liabilities and do not expect the resolution of any examination or audit of our tax returns to have a material adverse effect on our operating results, financial condition or liquidity.

Our Canadian federal tax returns subsequent to 2012 are subject to audit by the Canada Revenue Agency. Our Australian subsidiary’s federal income tax returns subsequent to 2015 are open for review by the Australian Taxation Office. Our U.S. subsidiary’s federal tax returns subsequent to 2017 are subject to audit by the US Internal Revenue Service.

The total amount of unrecognized tax benefits as of December 31, 2019, 2018 and 2017 was zero. Unrecognized tax benefits, if recognized, would affect the effective tax rate. We accrue interest and penalties related to unrecognized tax benefits as a component of our provision for income taxes. As of December 31, 2019, 2018 and 2017, we had accrued zero of interest expense and penalties.

Significant Accounting Policies	12 Months Ended
Significant Accounting Policies	Dec. 31, 2019
Accounting Policies [Abstract]
Cash	Cash We consider all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.
Allowances for Doubtful Accounts	Allowances for Doubtful Accounts We maintain allowances for doubtful accounts for estimated losses resulting from the inability of our customers to make required payments. If a trade receivable is deemed to be uncollectible, such receivable is charged-off against the allowance for doubtful accounts. We consider the following factors when determining if collection of revenue is reasonably assured: customer credit-worthiness, past transaction history with the customer, current economic industry trends, customer solvency and changes in customer payment terms. If we have no previous experience with the customer, we typically obtain reports from various credit organizations to ensure that the customer has a history of paying its creditors. We may also request financial information, including combined financial statements or other documents, to ensure that the customer has the means of making payment. If these factors do not indicate collection is reasonably assured, we generally would require a prepayment or other arrangement to support revenue recognition and recording of a trade receivable. If the financial condition of our customers were to deteriorate, adversely affecting their ability to make payments, additional allowances would be required.
Inventories	Inventories Inventories consist of work in process, raw materials and supplies and materials for the construction and operation of remote accommodation facilities. Inventories also include food, raw materials, labor, subcontractor charges, manufacturing overhead and catering and other supplies needed for operation of our facilities. Inventories are carried at the lower of cost or market. The cost of inventories is determined on an average cost or specific-identification method.
Property, Plant and Equipment	Property, Plant, and Equipment Property, plant, and equipment are stated at cost or at estimated fair market value at acquisition date if acquired in a business combination, and depreciation is computed, for assets owned or recorded under capital lease, using the straight-line method, after allowing for salvage value where applicable, over the estimated useful lives of the assets. Leasehold improvements are capitalized and amortized over the lesser of the life of the lease or the estimated useful life of the asset. During the fourth quarter of 2019, we extended the remaining useful life of certain long-lived accommodations assets in our Canada segment. We record the fair value of a liability, which reflects the estimated present value of the amount of asset removal and site reclamation costs related to the retirement of our assets, for an asset retirement obligation (ARO) when it is incurred (typically when the asset is installed). When the liability is initially recorded, we capitalize the associated asset retirement cost by increasing the carrying amount of the related property, plant and equipment. Please see Asset Retirement Obligations, below, for further discussion. Expenditures for repairs and maintenance are charged to expense when incurred. Expenditures for major renewals and betterments, which extend the useful lives of existing equipment, are capitalized and depreciated. Upon retirement or disposition of property and equipment, the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in the consolidated statements of operations.
Interest Capitalization	Interest Capitalization Interest costs for the construction of certain long-term assets are capitalized and amortized over the related assets’ estimated useful lives.
Business Combinations	Business Combinations We evaluate acquisitions of assets and other similar transactions to assess whether or not the transaction should be accounted for as a business combination by assessing whether or not we have acquired inputs and processes that have the ability to create outputs. If determined to be a business combination, we account for a business acquisition under the acquisition method of accounting. The accounting rules governing business combinations require the acquiring entity in a business combination to recognize the fair value of all assets acquired and liabilities assumed and establish the acquisition date as the fair value measurement point. Accordingly, we recognize assets acquired and liabilities assumed in a business combination based on the fair value estimates as of the date of acquisition. Goodwill is measured as the excess of the fair value of the consideration paid over the fair value of the identified net assets, including intangible assets, acquired. The fair value measurement of the identified net assets requires the significant use of estimates and is based on information that was available to management at the time the purchase price allocation was prepared. We utilize recognized valuation techniques, including the cost approach, the market approach and the income approach, to value the net assets acquired. The impact of changes to the estimated fair values of assets acquired and liabilities assumed is recorded in the reporting period in which the adjustment is identified. Final valuations of assets and liabilities are obtained and recorded within one year from the date of the acquisition.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The recoverability of the carrying values of long-lived assets, including amortizable intangible assets, is assessed whenever, in management’s judgment, events or changes in circumstances indicate that the carrying value of such asset groups may not be recoverable based on estimated future cash flows. If this assessment indicates that the carrying values will not be recoverable, as determined based on undiscounted cash flows over the remaining useful lives, an impairment loss is recognized. The impairment loss equals the excess of the carrying value over the fair value of the asset group. In performing this analysis, the first step is to review asset groups at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. For each asset group, we compare its carrying value to estimates of undiscounted future cash flows. We use a variety of underlying assumptions to estimate these future cash flows, including assumptions relating to future economic market conditions, rates, occupancy levels, costs and expenses and capital expenditures. The estimates are consistent with those used for purposes of our goodwill impairment test, as further discussed in Goodwill and Other Intangible Assets, below. Based on the assessment, if the carrying values of certain of our asset groups are determined to not be recoverable, we proceed to the second step. In this step, we compare the fair value of the respective asset group to its carrying value. The fair value of the asset groups are based on prices of similar assets, if available, or discounted cash flows. Our estimate of the fair value requires us to use significant unobservable inputs, representative of Level 3 fair value measurements, including numerous assumptions with respect to future circumstances, such as industry and/or local market conditions that might directly impact each of the asset groups’ operations in the future.
Goodwill	Goodwill. Goodwill represents the excess of the purchase price paid for acquired businesses over the allocated fair value of the related net assets after impairments, if applicable. We do not amortize goodwill. We evaluate goodwill for impairment, at the reporting unit level, annually and when an event occurs or circumstances change to suggest that the carrying amount may not be recoverable. A reporting unit is the operating segment, or a business one level below that operating segment (the “component” level) if discrete financial information is prepared and regularly reviewed by management at the component level. Each segment of our business represents a separate reporting unit. In the fourth quarter of 2019, we adopted Accounting Standard Update (ASU) 2017-04, "Intangibles-Goodwill and Other (Topic 350)" to simplify the test for goodwill impairment. Under the revised guidance, an entity recognizes an impairment charge for the amount by which the carrying amount of the reporting unit exceeds its fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to the reporting unit. In connection with our 2018 acquisition of Noralta Lodge Ltd. (Noralta), referred to herein as the Noralta Acquisition, we recognized $123.6 million of goodwill in our Canadian reporting unit. In connection with our acquisition of 2019 Action Industrial Catering (Action), referred to herein as the Action Acquisition, we recognized $7.9 million of goodwill in our Australian reporting unit. For further discussion, please see Note 7 - Acquisitions and Note 11 - Goodwill and Other Intangible Assets. We conduct our annual impairment test as of November 30 of each year. We compare each reporting unit’s carrying amount, including goodwill, to the fair value of the reporting unit. If the carrying amount of the reporting unit exceeds its fair value, goodwill is impaired. We are given the option to test for impairment of our goodwill by first performing a qualitative assessment to determine whether it is more likely than not (that is, likelihood of more than 50 percent) that the fair value of a reporting unit is less than its carrying amount, including goodwill. If it is determined that it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, then performing the currently prescribed impairment test is unnecessary. In developing a qualitative assessment to meet the “more-likely-than-not” threshold, each reporting unit with goodwill is assessed separately and different relevant events and circumstances are evaluated for each unit. We have the option to bypass the qualitative assessment for any reporting unit in any period and proceed directly to performing the goodwill impairment test. When performing our annual assessment on November 30, 2019, due to a reduction in our share price in the fourth quarter of 2019, we chose to bypass the qualitative assessment and proceed directly to the impairment test for goodwill in our Canadian and Australian reporting units. In performing the goodwill impairment test, we compare each reporting unit’s carrying amount, including goodwill, to the fair value of the reporting unit. Because none of our reporting units has a publicly quoted market price, we must determine the value that willing buyers and sellers would place on the reporting unit through a routine sale process (a Level 3 fair value measurement). In our analysis, we target a fair value that represents the value that would be placed on the reporting unit by market participants, and value the reporting unit based on historical and projected results throughout a cycle, not the value of the reporting unit based on trough or peak earnings. The fair value of the reporting unit is estimated using a combination of (i) an analysis of trading multiples of comparable companies (Market Approach) and (ii) discounted projected cash flows (Income Approach). The relative weighting of each approach reflects current industry and market conditions. Market Approach - This valuation approach utilizes publicly traded comparable companies’ enterprise values, as compared to their recent and forecasted earnings before interest, taxes and depreciation (EBITDA) information. We use EBITDA because it is a widely used key indicator of the cash generating capacity of companies in our industry. Income Approach - This valuation approach derives a present value of the reporting unit’s projected future annual cash flows over the next five years with a terminal value assumption. We use a variety of underlying assumptions to estimate these future cash flows, including assumptions relating to future economic market conditions, rates, occupancy levels, costs and expenses and capital expenditures. These assumptions can vary by each reporting unit depending on market conditions. In addition, a terminal value is estimated, using a Gordon Growth methodology with a long-term growth rate of 2%. We discount our projected cash flows using a long-term weighted average cost of capital based on our estimate of investment returns that would be required by a market participant. The fair value of our reporting units is affected by future oil, coal and natural gas prices, anticipated spending by our customers, and the cost of capital. Our estimate of fair value requires us to use significant unobservable inputs, representative of Level 3 fair value measurements, including numerous assumptions with respect to future circumstances, such as industry and/or local market conditions that might directly impact each of the reporting units’ operations in the future. We selected these valuation approaches because we believe the combination of these approaches and our best judgment regarding underlying assumptions and estimates provides us with the best estimate of fair value for each of our reporting units. We believe these valuation approaches are proven valuation techniques and methodologies for our industry and widely accepted by investors. The fair value of each reporting unit would change if our assumptions under these valuation approaches, or relative weighting of the valuation approaches, were materially modified.
Other Intangible Assets	Other Intangible Assets. We amortize the cost of other intangible assets using the straight-line method over their estimated useful lives unless such lives are deemed indefinite. For intangible assets that we amortize, we review the useful life of the intangible asset and evaluate each reporting period whether events and circumstances warrant a revision to the remaining useful life. We evaluate the remaining useful life of an intangible asset that is not being amortized each reporting period to determine whether events and circumstances continue to support an indefinite useful life. We are required to evaluate our indefinite-lived intangible assets for impairment annually and when an event occurs or circumstances change to suggest the carrying amount may not be recoverable. In performing the impairment test, we compare the fair value of the indefinite-lived intangible asset with its carrying amount. The measurement of the impairment is calculated based on the excess of the carrying value over its fair value.
Foreign Currency and Other Comprehensive Income	Foreign Currency and Other Comprehensive Income Gains and losses resulting from consolidated balance sheet translation of foreign operations where a foreign currency is the functional currency are included as a separate component of accumulated other comprehensive income within shareholders’ equity representing substantially all of the balances within accumulated other comprehensive income. Remeasurements of intercompany loans denominated in a different currency than the functional currency of the entity that are of a long-term investment nature are recognized as other comprehensive income within shareholders’ equity. Gains and losses resulting from consolidated balance sheet remeasurements of assets and liabilities denominated in a different currency than the functional currency, other than intercompany loans that are of a long-term investment nature, are included in the consolidated statements of operations as incurred.
Foreign Currency Exchange Rate Risk	Foreign Currency Exchange Rate Risk A significant portion of revenues, earnings and net investments in foreign affiliates are exposed to changes in foreign currency exchange rates. We seek to manage our foreign exchange risk in part through operational means, including managing expected local currency revenues in relation to local currency costs and local currency assets in relation to local currency liabilities. We have not entered into any foreign currency forward contracts.
Revenue and Cost Recognition	Revenue and Cost Recognition We generally recognize accommodation, mobile facility rental, food service and other services revenues over time as our customers simultaneously receive and consume benefits as we serve our customers because of continuous transfer of control to the customer. Revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. We transfer control and recognize a sale based on a periodic (usually daily) room rate each night a customer stays in our rooms or when the services are rendered. In some contracts, rates may vary over the contract term. In these cases, revenue may be deferred and recognized on a straight-line basis over the contract term. A limited portion of our revenue is recognized at a point in time when control transfers to the customer related to small modular construction and manufacturing contracts, minor food service arrangements and optional purchases our customers make for incidental services offered at our accommodation and mobile facilities. For significant construction projects, manufacturing revenues are recognized over time with progress towards completion measured using the cost based input method as the basis to recognize revenue and an estimated profit. Billings on such contracts in excess of costs incurred and estimated profits are classified as deferred revenue. Costs incurred and estimated profits in excess of billings on these contracts are recognized as unbilled receivables. Management believes this input method is the most appropriate measure of progress to the satisfaction of a performance obligation on larger modular construction and manufacturing contracts. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions, estimated profitability and final contract settlements may result in revisions to projected costs and revenue and are recognized in the period in which the revisions to estimates are identified and the amounts can be reasonably estimated. Factors that may affect future project costs and margins include weather, production efficiencies, availability and costs of labor, materials and subcomponents. These factors can significantly impact the accuracy of our estimates and materially impact our future reported earnings. Because of control transferring over time, the majority of our revenue is recognized based on the extent of progress towards completion of the performance obligation. At contract inception, we assess the goods and services promised in our contracts with customers and identify a performance obligation for each promise to transfer our customers a good or service (or bundle of goods or services) that is distinct. Our customers typically contract for hospitality services under take-or-pay contracts with terms that most often range from several months to three years. Our contract terms generally provide for a rental rate for a reserved room and an occupied room rate that compensates us for services provided. We typically contract our facilities to our customers on a fee per day basis where the goods and services promised include lodging and meals. To identify the performance obligations, we consider all of the goods and services promised in the context of the contract and the pattern of transfer to our customers. Revenues exclude taxes assessed based on revenues such as sales or value added taxes. Cost of services includes labor, food, utility costs, cleaning supplies, and other costs of operating our accommodations facilities. Cost of goods sold includes all direct material and labor costs and those costs related to contract performance, such as indirect labor, supplies, tools and repairs. Selling, general and administrative costs are charged to expense as incurred.
Income Taxes	Income Taxes Our operations are subject to Canadian federal and provincial income taxes, as well as foreign income taxes. We determine the provision for income taxes using the asset and liability approach. Under this approach, deferred income taxes represent the expected future tax consequences of temporary differences between the carrying amounts and tax bases of assets and liabilities. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized. In assessing the need for a valuation allowance, we look to the future reversal of existing taxable temporary differences, taxable income in carryback years, the feasibility of tax planning strategies and estimated future taxable income. The valuation allowance can be affected by changes to tax laws, changes to statutory tax rates and changes to future taxable income estimates and historical losses. We recognize tax benefits from uncertain tax positions only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from such positions are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Please see Note 16 – Income Taxes for further information.
Receivables and Concentration of Credit Risk	Receivables and Concentration of Credit Risk Based on the nature of our customer base, we do not believe that we have any significant concentrations of credit risk other than our concentration in the Canadian oil sands and Australian mining industries. We evaluate the credit-worthiness of our significant, new and existing customers’ financial condition and, generally, we do not require collateral from our customers. For the year ended December 31, 2019, each of Imperial Oil and Fort Hills Energy LP accounted for more than 10% of our revenues. For the year ended December 31, 2018, each of Imperial Oil, Fort Hills Energy LP and Suncor Energy Inc. accounted for more than 10% of our revenues. For the year ended December 31, 2017, each of Imperial Oil and Fort Hills Energy LP accounted for more than 10% of our revenues.
Asset Retirement Obligations	Asset Retirement Obligations We have AROs that we are required to perform under law or contract once an asset is permanently taken out of service. We record the fair value of the liability, which reflects the estimated present value of the amount of asset removal and site reclamation costs related to the retirement of our assets, for an ARO when it is incurred (typically when the asset is installed). When the liability is initially recorded, we capitalize the associated asset retirement cost by increasing the carrying amount of the related property, plant and equipment. Over time, the liability increases for the change in its present value, while the capitalized cost depreciates over the useful life of the related asset. Accretion expense is recognized over the estimated productive life of the related assets. If the fair value of the estimated ARO changes, an adjustment is recorded to both the ARO and the capitalized asset retirement cost. Revisions in estimated liabilities can result from changes in estimated inflation rates, changes in service and equipment costs and changes in the estimated timing of settling the ARO. We utilize current retirement costs to estimate the expected cash outflows for retirement obligations. We estimate the ultimate productive life of the properties and a risk-adjusted discount rate in order to determine the current present value of the obligation. We relieve ARO liabilities when the related obligations are settled. Most of these obligations are not expected to be paid until many years in the future and will be funded from general company resources at the time of removal. Please see Note 15 – Asset Retirement Obligations for further discussion.
Share-based Compensation	Share-Based Compensation We sponsor an equity participation plan in which certain of our employees participate. We measure the cost of employee services received in exchange for an award of equity instruments (typically restricted share awards and deferred share awards) based on the grant-date fair value of the award. The fair value is calculated based on our share price on the grant-date. The resulting cost is recognized over the period during which an employee is required to provide service in exchange for the awards, usually the vesting period. We also grant phantom shares. All of the awards vest in equal annual installments and are accounted for as a liability based on the fair value of our share price. Participants granted units of phantom shares are entitled to a lump sum cash payment equal to the fair market value of a common share on the vesting date. We also grant performance share awards. These awards are earned in amounts between 0% and 200% of the participant’s target performance share award, based on the payout percentage associated with Civeo’s relative total shareholder return rank among a peer group of other companies. The fair value is estimated using option-pricing models. The resulting cost is recognized over the period during which an employee is required to provide service in exchange for the awards, usually the vesting period.
Guarantees	Guarantees Substantially all of our Canadian and U.S. subsidiaries are guarantors under our Credit Agreement. See Note 12 – Debt. During the ordinary course of business, we also provide standby letters of credit or other guarantee instruments to certain parties as required for certain transactions initiated by us or our subsidiaries. As of December 31, 2019, the maximum potential amount of future payments that we could be required to make under these guarantee agreements (letters of credit) was approximately $2.5 million. We have not recorded any liability in connection with these guarantee arrangements. We do not believe, based on historical experience and information currently available, that it is likely that any amounts will be required to be paid under these guarantee arrangements.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires the use of estimates and assumptions by management in determining the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Examples of a few such estimates include revenue and income recognized on the cost-based input method, estimates of the amount and timing of costs to be incurred for AROs, any valuation allowance recorded on net deferred tax assets, warranty claims, long-lived asset and goodwill impairments and allowance for doubtful accounts. Actual results could materially differ from those estimates.
Accounting for Contingencies	Accounting for Contingencies We have contingent liabilities and future claims for which we have made estimates of the amount of the eventual cost to liquidate these liabilities or claims. These liabilities and claims sometimes involve threatened or actual litigation where damages have been quantified and we have made an assessment of our exposure and recorded a provision in our accounts to cover an expected loss. Other claims or liabilities have been estimated based on their fair value or our experience in these matters and, when appropriate, the advice of outside counsel or other outside experts. Upon the ultimate resolution of these uncertainties, our future reported financial results will be impacted by the difference between our estimates and the actual amounts paid to settle a liability. Examples of areas where we have made important estimates of future liabilities include litigation, taxes, interest, insurance claims, warranty claims, contract claims and obligations.
Recent Accounting Pronouncements	Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (the FASB), which are adopted by us as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards or other guidance updates, which are not yet effective, will not have a material impact on our consolidated financial statements upon adoption. In January 2017, the FASB issued ASU 2017-04, "Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment." The standard simplifies the accounting for goodwill impairment by requiring a goodwill impairment to be measured using a single step impairment model, whereby the impairment equals the difference between the carrying amount and the fair value of the specified reporting units in their entirety. This eliminates the second step of the current impairment model that requires companies to first estimate the fair value of all assets in a reporting unit and measure impairments based on those fair values and a residual measurement approach. It also specifies that any loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. ASU 2017-04 is effective prospectively for public business entities for annual reporting periods beginning after December 15, 2019, and early adoption is permitted. We adopted ASU 2017-04 in the fourth quarter of 2019. Based on the results of the impairment test, we recognized an impairment expense of $19.9 million related to our Canadian reporting unit. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses” (ASU 2016-13). This new standard changes how companies will measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. ASU 2016-13 is effective for financial statements issued for reporting periods beginning after December 15, 2019 and interim periods within the reporting periods. We will adopt ASU 2016-13 as of January 1, 2020. The adoption of this new standard will not have a material impact on our consolidated financial statements. We adopted ASU 2016-02, “Leases” (Topic 842) effective January 1, 2019 using the optional transition method, which allowed us upon adoption to recognize a cumulative-effect adjustment to the opening balance of accumulated deficit for the application of the standard to our existing leases. We recognized a cumulative effect adjustment of $0.7 million (net of $0.2 million of taxes) to increase accumulated deficit in the consolidated balance sheet as of December 31, 2019. ASU 2016-02 requires lessees to recognize a lease liability and a right-of-use asset for certain leases. We elected the package of practical expedients, which among other things, allowed us to carry forward the historical lease identification and classification. In addition, we elected the short-term lease recognition exemption for all leases that qualify. Accordingly, we did not recognize right-of-use assets or lease liabilities for leases with terms shorter than 12 months. Our evaluation process included reviewing all forms of leases, performing a completeness assessment over the lease population and analyzing the available practical expedients in order to determine the best implementation strategy. We determined that certain of our accommodation contracts with customers contain both a lease and non-lease or service component and in those instances concluded the service component was the predominant component. As a result, we elected the practical expedient under ASU 2018-11, which allows us to combine the lease and non-lease components of revenues as Service and other revenues for presentation purposes in accordance with Accounting Standards Codification (ASC) Topic 606, “Revenue from Contracts with Customers” (ASC 606). We also identified certain arrangements with customers whereby we are a lessor for the rental of mobile camp assets primarily in our U.S. segment. For arrangements where we are the lessor, the adoption of the new lease standard did not have a material impact on our financial statements as all of our leases are operating leases, which will result in straight-line recognition of rental revenue. Adoption of the new standard resulted in $21.3 million of operating lease right-of-use assets and $22.4 million of operating lease liabilities as of January 1, 2019. Please see Note 13 – Leases for further information.

Earnings Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

We calculate basic and diluted earnings per share by applying the two-class method because we have participating securities in the form of Preferred Shares. Participating securities are allocated a proportional share of net income determined by dividing total weighted average participating securities by the sum of total weighted average common shares and participating securities. We also apply the treasury stock method with respect to certain share based awards in the calculation of diluted earnings per share, if dilutive.

The calculation of earnings per share attributable to Civeo common shareholders is presented below for the periods indicated (in thousands, except per share amounts):



	2019			2018			2017
Numerator:
Net loss attributable to Civeo common shareholders	$	(60,340	)	$	(131,832	)	$	(105,713	)
Less: income allocated to participating securities	—			—			—
Basic net income loss attributable to Civeo Corporation common shareholders	$	(60,340	)	$	(131,832	)	$	(105,713	)
Add: undistributed income attributable to participating securities	—			—			—
Less: undistributed income reallocated to participating securities	—			—			—
Diluted net loss attributable to Civeo Corporation common shareholders	$	(60,340	)	$	(131,832	)	$	(105,713	)

Denominator:
Weighted average shares outstanding - basic	167,047			157,231			128,365
Dilutive shares - share based awards	—			—			—
Weighted average shares outstanding - diluted	167,047			157,231			128,365

Basic net loss per share attributable to Civeo Corporation common shareholders (1)	$	(0.36	)	$	(0.84	)	$	(0.82	)

Diluted net loss per share attributable to Civeo Corporation common shareholders (1)	$	(0.36	)	$	(0.84	)	$	(0.82	)


(1)	Computations may reflect rounding adjustments.

When an entity has a net loss from continuing operations, it is prohibited from including potential common shares in the computation of diluted per share amounts. For the years ended December 31, 2019, 2018 and 2017, we excluded from the computation of diluted loss per share 6.4 million, 9.6 million and 7.3 million share based awards, respectively, since the effect would have been anti-dilutive. Additionally, for the years ended December 31, 2019 and 2018, we excluded from the calculation the impact of converting the Preferred Shares into 28.4 million and 29.8 million common shares, respectively, since the effect would have been anti-dilutive.

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES We are a party to various pending or threatened claims, lawsuits and administrative proceedings seeking damages or other remedies concerning our commercial operations, products, employees and other matters, including warranty and product liability claims as a result of our products or operations. Although we can give no assurance about the outcome of pending legal and administrative proceedings and the effect such outcomes may have on us, management believes that any ultimate liability resulting from the outcome of such proceedings, to the extent not otherwise provided for or covered by insurance, will not have a material adverse effect on our consolidated financial position, results of operations or liquidity.

Acquisitions

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Acquisitions

ACQUISITIONS

Action

On July 1, 2019, we acquired Action Industrial Catering (Action), a provider of catering and managed services to the mining industry in Western Australia. We funded the purchase price of $16.9 million in cash through a combination of cash on hand and borrowings under our revolving credit facility. The acquisition expands our business into the growing integrated services opportunities in the Western Australian mining market. Action's operations are reported as part of our Australia reporting business segment beginning on July 1, 2019, the date of acquisition.

This acquisition is accounted for in accordance with the acquisition method of accounting for business combinations, which requires us to record the assets acquired and the liabilities assumed at their fair values at July 1, 2019. Our estimates of the fair value for such assets and liabilities require significant assumptions and judgment. Based on the final purchase price allocation, intangible assets acquired totaled $8.4 million and consisted primarily of customer contracts and a trade name. In addition, we recognized goodwill of $7.9 million.

Noralta

Description of Transaction. On April 2, 2018, we acquired the equity of Noralta. As a result of the Noralta Acquisition, we expanded our existing accommodations business in the Canadian oil sands market. The total consideration, which is subject to adjustment in accordance with the terms of the definitive agreement, included (i) C$207.7 million (or approximately US$161.2 million) in cash, subject to customary post-closing adjustments for working capital, indebtedness and transactions expenses, (ii) 32.8 million of our common shares, of which 13.5 million shares are held in escrow and will be released based on certain conditions related to Noralta customer contracts remaining in place, and (iii) 9,679 Class A Series 1 Preferred Shares (the Preferred Shares) with an initial liquidation preference of $96.8 million and initially convertible into 29.3 million of our common shares. We funded the cash consideration with cash on hand and borrowings under our revolving credit facility.

During the first quarter of 2019, $2.1 million in cash was released to us from escrow to cover certain agreed upon indemnification claims. During the fourth quarter of 2018, $10.4 million in cash, 2.2 million common shares and 637 Preferred Shares were released to us, and $1.2 million in cash, 0.2 million common shares and 55 Preferred Shares were released to the sellers, from escrow to cover purchase price adjustments related to employee compensation cost increases. During the third quarter of 2018, $3.6 million in cash was released to us from escrow to cover purchase price adjustments related to a working capital shortfall at closing.

The Noralta Acquisition was accounted for in accordance with the acquisition method of accounting for business combinations, and accordingly, the results of operations of Noralta were reported in our financial statements as part of our Canada reporting business segment beginning on April 2, 2018, the date of acquisition. During the year ended December 31, 2018, we recorded approximately $85.8 million of revenue and $31.5 million of gross margin in the accompanying consolidated statements of operations related to the Noralta Acquisition.

Calculation of Purchase Consideration. The total purchase consideration received by the Noralta shareholders was based on the cash consideration and fair value of our common shares and Preferred Shares issued on April 2, 2018. The purchase consideration below reflects the fair value of common shares issued, which is based on the closing price on March 29, 2018 (the last business day prior to April 2, 2018) of our common shares of $3.77 per share and the estimated fair value of Preferred Shares issued, which are valued at 61% of the initial liquidation preference of the Preferred Shares of $96.8 million.

A portion of the consideration paid, $11.6 million cash, 2.4 million common shares and 692 Preferred Shares, was initially held in escrow to support certain obligations of the sellers to compensate us for certain increased employee compensation costs expected to be incurred as a result of the union certification of certain classes of Noralta employees. As of April 2, 2018, we expected the escrowed amounts to be released to us within 12 months, and therefore, a receivable of $11.6 million related to the cash expected to be released was established. Additionally, no fair value has been allocated to such common shares or Preferred Shares portion of the consideration. As the $10.4 million of cash released to us during the fourth quarter of 2018 was less than the cash expected to be released as of April 2, 2018, we recognized a loss equal to the difference, adjusted for exchange rate changes, totaling $0.8 million. The loss is included in Other income in the accompanying consolidated statement of operations.

The purchase consideration and estimated fair value of Noralta’s net assets acquired as of April 2, 2018 is presented as follows:



(In thousands, except per share data)
Common shares issued	32,791
Common share price as of March 29, 2018	$	3.77
Common share consideration			$	123,622
Cash consideration (1)			157,539
Preferred Share consideration			59,042
Total purchase consideration			$	340,203
Less: Common shares held in escrow			(8,825		)
Less: Cash held in escrow			(11,607		)
Less: Preferred Shares held in escrow			(4,221		)
Total purchase consideration			$	315,550

(1)Net of $3.6 million in cash released to us to cover purchase price adjustments related to a working capital shortfall at closing.

Purchase Price Allocation. The application of purchase accounting under ASC 805 requires that the total purchase price be allocated to the fair value of assets acquired and liabilities assumed based on their fair values at April 2, 2018, with amounts exceeding the fair values being recorded as goodwill. The allocation process requires an analysis of acquired fixed assets, contracts, and contingencies to identify and record the fair value of all assets acquired and liabilities assumed. Our allocation of the purchase price, which we finalized in the first quarter of 2019, to specific assets and liabilities is based, in part, upon outside appraisals using customary valuation procedures and techniques. The following table summarizes the fair values of the assets acquired and liabilities assumed at April 2, 2018 (in thousands):



Cash and cash equivalents	$	24
Accounts receivable (1)	21,456
Inventories	839
Other current assets	4,266
Property, plant and equipment	129,424
Goodwill	123,569
Intangible assets	110,736
Total assets acquired	390,314

Accounts payable and accrued liabilities	15,023
Income taxes payable	1,038
Other current liabilities	2,027
Deferred income taxes	51,543
Other noncurrent liabilities	5,133
Total liabilities assumed	74,764
Net assets acquired	$	315,550


(1)	The aggregate fair value of the acquired accounts receivable approximated the aggregate gross contractual amount.

Goodwill has been recorded based on the amount by which the purchase price exceeded the fair value of the net assets acquired. The goodwill is primarily attributable to synergies expected to arise from the Noralta Acquisition. The goodwill is not expected to be deductible for tax purposes. The fair value of the assets acquired and liabilities assumed were determined using income, market and cost valuation methodologies. The fair value measurements were estimated using significant inputs that are not observable in the market and thus represent a Level 3 measurement. Fair values of property, plant and equipment, excluding land, were determined using the cost approach. The cost approach estimates value by determining the current cost of replacing an asset with another of equivalent economic utility. The cost to replace a given asset reflects the estimated reproduction or replacement cost for the asset, less an allowance for loss in value due to depreciation. Fair values of land were determined using the market approach. The market approach is a valuation technique that uses prices and other relevant information generated by market transactions involving identical or comparable assets. The income approach was used to value the intangible assets, consisting primarily of customer contracts, trade name and favorable/unfavorable lease contracts. The income approach indicates value for an asset or liability based on present value of cash flows projected to be generated over the remaining economic life of the asset or liability being measured. Projected cash flows are discounted at a required market rate of return that reflects the relative risk of achieving the cash flows and the time value of money.

The purchase price allocation to the identifiable intangible assets and liabilities is as follows (in thousands):



	Fair Value at April 2, 2018
Amortizable Intangible Assets
Trade name	$	1,474
Contracts	106,766
Favorable lease contract	2,496
Total amortizable intangible assets	$	110,736

Amortizable Intangible Liabilities
Unfavorable lease contracts	$	2,456
Total amortizable intangible liabilities	$	2,456

Net intangible assets	$	108,280

The contracts acquired consist of accommodations contracts with two major investment grade oil sands producers which are subject to amortization over an estimated useful life of 20 years at the time of acquisition. The trade name was assigned to Noralta’s name recognition with an estimated useful life of 9 months at the time of acquisition. The favorable/unfavorable intangible contracts are related to leases that will be amortized over the remaining lease terms, which range from 3.8 years to 9.3 years at the time of acquisition. The unfavorable contracts are included in Other noncurrent liabilities in the accompanying consolidated balance sheet.

Supplemental Pro Forma Financial Information (Unaudited). The following unaudited pro forma supplemental financial information presents the consolidated results of operations of the Company and Noralta as if the Noralta Acquisition had occurred on January 1, 2017. We have adjusted historical financial information to give effect to pro forma items that are directly attributable to the Noralta Acquisition and are expected to have a continuing impact on the consolidated results. These items include adjustments to record the incremental amortization and depreciation expense related to the increase in fair values of the acquired assets, interest expense related to borrowings under the Credit Agreement to fund the Noralta Acquisition and to reclassify certain items to conform to our financial reporting presentation. However, pro forma results do not include any anticipated cost savings or other effects of the planned integration of Noralta. The unaudited pro forma results do not purport to be indicative of the results of operations had the transaction occurred on the date indicated or of future results for the combined entities (in thousands, except per share data):



	Years Ended December 31, (Unaudited)
	Pro forma			Pro forma
	2018			2017
Revenues	$	501,275		$	506,040
Net loss attributable to Civeo Corporation common shareholders	(129,900		)	(91,420		)
Basic net loss per share attributable to Civeo Corporation common shareholders	$	(0.83	)	$	(0.57	)
Diluted net loss per share attributable to Civeo Corporation common shareholders	$	(0.83	)	$	(0.57	)

Included in the pro forma results above are certain adjustments due to the following: (i) increases in depreciation and amortization expense due to acquired intangibles and the increased recorded value of property, plant and equipment, (ii) increases in interest expense due to additional credit facility borrowings to fund the Noralta Acquisition, and (iii) decreases due to the exclusion of transaction costs.

Transaction Costs. During the year ended December 31, 2018, we recognized $9.1 million of costs in connection with the Noralta Acquisition that are included in Service and other costs ($1.0 million), Selling, general and administrative expenses ($7.2 million) and Other income ($0.9 million). During the year ended December 31, 2017, we recognized $2.3 million of costs in connection with the Noralta Acquisition that are included in Selling, general and administrative expenses.

Acadian Acres

On February 28, 2018, we acquired the assets of Lakeland, L.L.C. (Lakeland), located near Lake Charles, Louisiana, for total consideration of $28.0 million, composed of $23.5 million in cash and $4.5 million of our common shares. The asset purchase agreement also includes potential future earn-out payments through December 2020 of up to 1.2 million Civeo common shares, based upon satisfaction of certain future revenue targets. The acquisition included a 400 room lodge, 40 acres of land and related assets. We funded the cash consideration with cash on hand. Lakeland’s operations are reported as Acadian Acres in our U.S. reporting business segment.

Intangible assets acquired in the Acadian Acres acquisition totaled $8.2 million and consisted of a customer contract. The customer contract intangible is being amortized over the remaining contract term, which was 16 months at the time of acquisition.

This acquisition was accounted for as an asset acquisition based on the principles described in ASC 805, which provides a screen to determine when a set of transferred assets is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similarly identifiable assets, the set of transferred assets is not a business. Accordingly, we allocated the excess consideration over the fair value of the assets acquired to the acquired assets, pro rata, on the basis of relative fair values to increase the related assets acquired.

Leases

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Leases

ASES

We have operating leases covering certain land locations and various office facilities and equipment in our three reporting business segments. Our leases have remaining lease terms of one year to eight years, some of which include options to extend the leases for up to 10 years, and some of which include options to terminate the leases within 90 days.

The components of lease expense were $6.8 million, $6.8 million and $5.6 million under operating leases for the years ended December 31, 2019, 2018 and 2017, respectively. Included in the measurement of lease liabilities, we paid $6.6 million in cash related to operating leases during the year ended December 31, 2019. Right-of-use assets obtained in exchange for new lease obligations related to operating leases during the year ended December 31, 2019 were $5.3 million.

Supplemental balance sheet information related to leases were as follows (in thousands):



	December 31, 2019
Operating leases
Operating lease right-of-use assets	$	24,876

Other current liabilities	$	5,543
Operating lease liabilities	21,231
Total operating lease liabilities	$	26,774

Weighted average remaining lease term
Operating leases	6.2 years
Weighted average discount rate
Operating leases	5.9		%

Maturities of operating lease liabilities at December 31, 2019, were as follows (in thousands):



For the years ending December 31,
2020	$	6,979
2021	5,074
2022	4,501
2023	3,882
2024	3,405
Thereafter	8,141
Total lease payments	31,982
Less imputed interest	5,208
Total	$	26,774

Consolidated Statements of Comprehensive Loss (Parentheticals) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment, tax	$ 0	$ 0	$ 0

Details of Selected Balance Sheet Accounts - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Inventory [Line Items]
Inventory write-down		$ 0	$ 0	$ 525
Cost of Sales \| Canada
Inventory [Line Items]
Inventory write-down	$ 500

Goodwill and Other Intangible Assets - Goodwill Rollfoward (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Roll Forward]
Goodwill, Beginning Balance		$ 114,207	$ 0
Acquisition		7,923	120,893
Measurement period adjustments for Noralta Acquisition		2,676
Foreign currency translation		5,267	(6,686)
Goodwill impairment	$ (19,900)
Goodwill, Ending Balance	110,173	110,173	114,207
Canada
Goodwill [Roll Forward]
Goodwill, Beginning Balance		114,207	0
Acquisition		0	120,893
Measurement period adjustments for Noralta Acquisition		2,676
Foreign currency translation		5,255	(6,686)
Goodwill impairment	(19,900)
Goodwill, Ending Balance	102,238	102,238	114,207
Australia
Goodwill [Roll Forward]
Goodwill, Beginning Balance		0	0
Acquisition		7,923	0
Foreign currency translation		12	0
Goodwill impairment	0
Goodwill, Ending Balance	7,935	7,935	0
U.S.
Goodwill [Roll Forward]
Goodwill, Beginning Balance		0	0
Acquisition		0	0
Foreign currency translation		0	0
Goodwill impairment	0
Goodwill, Ending Balance	$ 0	$ 0	$ 0

Earnings Per Share - Narrative (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	6.4	9.6	7.3
Preferred Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	28.4	29.8

Supplemental Cash Flow Information

12 Months Ended

Dec. 31, 2019

Supplemental Cash Flow Information [Abstract]

Supplemental Cash Flow Information

SUPPLEMENTAL CASH FLOW INFORMATION

Cash paid during the years ended December 31, 2019, 2018 and 2017 for interest and income taxes was as follows (in thousands):



	2019		2018			2017
Interest (net of amounts capitalized)	$	23,882	$	23,098		$	17,362
Net income taxes paid (refunds received)	1,045		(5,271		)	(7,755		)

Details of Selected Balance Sheet Accounts - Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Inventory, Net [Abstract]
Finished goods and purchased products	$ 3,982	$ 2,461
Work in process	813	945
Raw materials	1,082	907
Total inventories	$ 5,877	$ 4,313

Share Based Compensation

12 Months Ended

Dec. 31, 2019

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

Share Based Compensation

SHARE BASED COMPENSATION

Certain key employees and non-employee directors participate in the Amended and Restated 2014 Equity Participation Plan of Civeo Corporation (the Civeo Plan). The Civeo Plan authorizes our Board of Directors and the Compensation Committee of our Board of Directors to approve grants of options, awards of restricted shares, performance awards, phantom share awards and dividend equivalents, awards of deferred shares, and share payments to our employees and non-employee directors. No more than 18.7 million Civeo common shares may be issued under the Civeo Plan.

Share-based compensation expense recognized in the years ended December 31, 2019, 2018 and 2017 totaled $13.9 million, $16.4 million and $15.4 million, respectively. Share-based compensation expense is reflected in Selling, general and administrative (SG&A) expense in our consolidated statements of operations. The total income tax benefit recognized in the consolidated statements of operations for share based compensation arrangements was approximately $0.7 million, $1.2 million and zero for the years ended December 31, 2019, 2018 and 2017, respectively.

Options to Purchase Common Shares



	Options		Weighted Average Exercise Price Per Share		Weighted Average Contractual Life (Years)	Intrinsic Value (Thousands)
Outstanding Options at December 31, 2016	165,886		$	17.98	4.6	$	—
Forfeited / Expired	(20,085	)	18.10
Outstanding Options at December 31, 2017	145,801		$	17.97	4.5	$	—
Outstanding Options at December 31, 2018	145,801		$	17.97	3.3	$	—
Outstanding Options at December 31, 2019	145,801		$	17.97	2.3	$	—

Exercisable Options at December 31, 2017	139,491		$	17.79	4.2	$	—
Exercisable Options at December 31, 2018	145,801		$	17.97	3.3	$	—
Exercisable Options at December 31, 2019	145,801		$	17.97	2.3	$	—

As no options were exercised in the last three years, the total intrinsic value of options exercised by our employees during 2019, 2018 and 2017 was zero. Additionally, the tax benefits realized for the tax deduction from options exercised during 2019, 2018 and 2017 totaled zero.

At December 31, 2019, unrecognized compensation cost related to options was zero.

The following table summarizes information for outstanding options of our employees at December 31, 2019:



	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number Outstanding as of December 31, 2019	Weighted Average Remaining Contractual Life	Weighted Average Exercise Price		Number Exercisable as of December 31, 2019	Weighted Average Exercise Price
$16.43	63,142	1.13	$	16.43	63,142	$	16.43
$17.48	29,849	3.14	$	17.48	29,849	$	17.48
$18.43	27,553	2.13	$	18.43	27,553	$	18.43
$21.87	25,257	4.14	$	21.87	25,257	$	21.87
16.43 -21.87	145,801	2.25	$	17.97	145,801	$	17.97

Restricted Share Awards/ Restricted Share Units/ Deferred Share Awards



	Number of Awards/Units		Weighted Average Grant Date Fair Value Per Share
Nonvested shares at December 31, 2016	1,298,372		$	4.41
Granted	1,655,067		3.14
Vested	(733,147	)	4.19
Forfeited	(49,968	)	3.43
Nonvested shares at December 31, 2017	2,170,324		$	3.54
Granted	2,861,775		3.42
Vested	(1,247,522	)	3.92
Forfeited	(101,839	)	3.69
Nonvested shares at December 31, 2018	3,682,738		$	3.31
Granted	1,725,018		2.29
Vested	(1,628,577	)	3.26
Forfeited	(97,643	)	3.23
Nonvested shares at December 31, 2019	3,681,536		$	2.86

The weighted average grant date fair value per share for restricted share awards, restricted share units and deferred share awards granted during 2019, 2018 and 2017 was $2.29, $3.42 and $3.14, respectively. The total fair value of restricted share awards, restricted share units and deferred share awards vested during 2019, 2018 and 2017 was $4.0 million, $3.8 million and $2.0 million, respectively. At December 31, 2019, unrecognized compensation cost related to restricted share awards, restricted share units and deferred share awards was $5.3 million, which is expected to be recognized over a weighted average period of 1.5 years.

Phantom Share Awards

Each phantom share award is equal in value to one common share. Upon vesting, each recipient will receive a lump sum cash payment equal to the fair market value of a common share on the respective vesting date. These awards are accounted for as a liability that is remeasured at each reporting date until paid.

The following table presents the changes in phantom share awards outstanding and related information for our employees during the years ended December 31, 2019, 2018 and 2017:



	Number of Awards
Nonvested shares at December 31, 2016	6,269,964
Granted	750,525
Vested	(2,207,589	)
Forfeited	(263,161	)
Nonvested shares at December 31, 2017	4,549,739
Granted	—
Vested	(2,270,214	)
Forfeited	(12,951	)
Nonvested shares at December 31, 2018	2,266,574
Granted	1,415,277
Vested	(2,059,656	)
Forfeited	(12,687	)
Nonvested shares at December 31, 2019	1,609,508

At December 31, 2019, the balance of the liability for the phantom share awards was $0.8 million. For the years ended December 31, 2019, 2018 and 2017, we made phantom share cash payments of $5.3 million, $8.2 million and $7.1 million, respectively. At December 31, 2019, unrecognized compensation cost related to phantom shares was $1.3 million, as remeasured at December 31, 2019, which is expected to be recognized over a weighted average period of 2.1 years. The weighted average grant date fair value of phantom shares granted during the years ended December 31, 2019, 2018 and 2017 was $2.53, zero and $3.27, respectively.

Performance Share Awards

We grant performance awards, which cliff vest in three years subject to attainment of applicable performance criteria. These awards are earned in amounts between 0% and 200% of the participant’s target performance share award, based on the payout percentage associated with Civeo’s relative total shareholder return (TSR) rank among a peer group of other companies. The resulting cost is recognized over the period during which an employee is required to provide service in exchange for the awards, usually the vesting period.

The fair value of each performance share award was estimated using a Monte Carlo simulation pricing model that uses the assumptions noted in the following table. The risk-free interest rate is based on the U.S. Treasury yield curve in effect for the expected term of the performance share at the time of grant. The dividend yield on our common shares was assumed to be zero since we do not currently pay dividends. The expected market price volatility of our common shares was based on an estimate that considers the historical and implied volatility of our common shares as well as a peer group of companies over a time period equal to the expected term of the option. The initial TSR performance was based on historical performance of our common shares and the peer group’s common shares.



	2019		2018		2017
Risk-free weighted interest rate	2.5	%	2.4	%	1.5	%
Expected volatility	68.0	%	79.0	%	90.0	%
Initial TSR	0.7	%	(0.4	)%	0.04	%

The following table presents the changes in performance share awards outstanding and related information for our employees during the year ended December 31, 2019, 2018 and 2017:



	Number of Awards		Weighted Average Grant Date Fair Value Per Share
Nonvested shares at December 31, 2016	1,951,684		$	3.18
Granted	762,497		5.20
Vested	—		—
Forfeited	(38,699	)	3.64
Nonvested shares at December 31, 2017	2,675,482		$	3.75
Granted	848,830		5.30
Vested	—		—
Forfeited	—		—
Nonvested shares at December 31, 2018	3,524,312		$	4.12
Granted	1,184,599		3.73
Performance adjustment (1)	1,921,865		2.93
Vested	(3,843,730	)	2.93
Forfeited	—		—
Nonvested shares at December 31, 2019	2,787,046		$	4.61


(1)	Related to 2016 performance share awards that vested in 2019, which were paid out at 200% based on Civeo's TSR rank.

During the years ended December 31, 2019, 2018 and 2017, we recognized compensation expense associated with performance share awards totaling $4.3 million, $4.6 million and $3.0 million, respectively. At December 31, 2019, unrecognized compensation cost related to performance share awards was $5.1 million, which is expected to be recognized over a weighted average period of 1.7 years.

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net loss	$ (58,334)	$ (81,847)	$ (105,254)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	123,768	125,846	126,443
Impairment charges	26,148	28,661	31,604
Inventory write-down	0	0	525
Loss on extinguishment of debt	0	748	842
Deferred income tax benefit	(11,713)	(31,403)	(8,976)
Non-cash compensation charge	10,116	11,036	7,338
Gain on disposals of assets	(3,882)	(1,606)	(825)
Provision (benefit) for loss on receivables, net of recoveries	(30)	(276)	51
Other, net	2,659	4,879	3,871
Changes in operating assets and liabilities:
Accounts receivable	(20,547)	13,326	(6,896)
Inventories	(87)	3,376	(4,463)
Accounts payable and accrued liabilities	8,473	(17,716)	12,674
Taxes payable	(75)	5,310	3,210
Other current assets and liabilities, net	(2,015)	(5,943)	(3,318)
Net cash flows provided by operating activities	74,481	54,391	56,826
Cash flows from investing activities:
Capital expenditures	(29,812)	(17,108)	(11,194)
Payments related to acquisitions, net of cash acquired	(16,434)	(171,337)	0
Proceeds from disposition of property, plant and equipment	5,906	5,844	1,908
Other, net	1,762	654	548
Net cash flows used in investing activities	(38,578)	(181,947)	(8,738)
Cash flows from financing activities:
Proceeds from issuance of common shares, net	0	0	64,734
Revolving credit borrowings	381,615	358,312	44,525
Revolving credit repayments	(385,071)	(217,339)	(84,462)
Term loan repayments	(34,942)	(26,609)	(40,781)
Debt issuance costs	(1,950)	(4,009)	(1,795)
Other, net	(4,283)	(832)	(293)
Net cash flows provided by (used in) financing activities	(44,631)	109,523	(18,072)
Effect of exchange rate changes on cash	(313)	(2,242)	846
Net change in cash and cash equivalents	(9,041)	(20,275)	30,862
Cash and cash equivalents, beginning of period	12,372	32,647	1,785
Cash and cash equivalents, end of period	3,331	12,372	32,647
Non-cash investing and financing items
Preferred dividends paid-in-kind	1,849	1,459	0
Common Shares
Non-cash investing and financing items
Value of shares issued as consideration for acquisitions	0	119,797	0
Preferred Shares
Non-cash investing and financing items
Value of shares issued as consideration for acquisitions	$ 0	$ 54,821	$ 0

Segment and Related Information - Financial Information By Geographic Segment (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues from unaffiliated customers	$ 148,689	$ 148,163	$ 122,153	$ 108,550	$ 114,520	$ 120,491	$ 130,177	$ 101,504	$ 527,555	$ 466,692	$ 382,276
Long-lived assets	838,471				893,880				838,471	893,880	717,501
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues from unaffiliated customers									325,651	296,012	245,595
Long-lived assets	558,310				580,644				558,310	580,644	353,710
Australia
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues from unaffiliated customers									156,093	119,238	111,221
Long-lived assets	242,002				263,094				242,002	263,094	331,511
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues from unaffiliated customers									45,811	51,442	25,460
Long-lived assets	$ 38,159				$ 50,142				$ 38,159	$ 50,142	$ 32,280

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Cash We consider all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Allowances for Doubtful Accounts We maintain allowances for doubtful accounts for estimated losses resulting from the inability of our customers to make required payments. If a trade receivable is deemed to be uncollectible, such receivable is charged-off against the allowance for doubtful accounts. We consider the following factors when determining if collection of revenue is reasonably assured: customer credit-worthiness, past transaction history with the customer, current economic industry trends, customer solvency and changes in customer payment terms. If we have no previous experience with the customer, we typically obtain reports from various credit organizations to ensure that the customer has a history of paying its creditors. We may also request financial information, including combined financial statements or other documents, to ensure that the customer has the means of making payment. If these factors do not indicate collection is reasonably assured, we generally would require a prepayment or other arrangement to support revenue recognition and recording of a trade receivable. If the financial condition of our customers were to deteriorate, adversely affecting their ability to make payments, additional allowances would be required. Inventories Inventories consist of work in process, raw materials and supplies and materials for the construction and operation of remote accommodation facilities. Inventories also include food, raw materials, labor, subcontractor charges, manufacturing overhead and catering and other supplies needed for operation of our facilities. Inventories are carried at the lower of cost or market. The cost of inventories is determined on an average cost or specific-identification method. Property, Plant, and Equipment Property, plant, and equipment are stated at cost or at estimated fair market value at acquisition date if acquired in a business combination, and depreciation is computed, for assets owned or recorded under capital lease, using the straight-line method, after allowing for salvage value where applicable, over the estimated useful lives of the assets. Leasehold improvements are capitalized and amortized over the lesser of the life of the lease or the estimated useful life of the asset. During the fourth quarter of 2019, we extended the remaining useful life of certain long-lived accommodations assets in our Canada segment. We record the fair value of a liability, which reflects the estimated present value of the amount of asset removal and site reclamation costs related to the retirement of our assets, for an asset retirement obligation (ARO) when it is incurred (typically when the asset is installed). When the liability is initially recorded, we capitalize the associated asset retirement cost by increasing the carrying amount of the related property, plant and equipment. Please see Asset Retirement Obligations, below, for further discussion. Expenditures for repairs and maintenance are charged to expense when incurred. Expenditures for major renewals and betterments, which extend the useful lives of existing equipment, are capitalized and depreciated. Upon retirement or disposition of property and equipment, the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recognized in the consolidated statements of operations. Interest Capitalization Interest costs for the construction of certain long-term assets are capitalized and amortized over the related assets’ estimated useful lives. For each of the years ended December 31, 2019, 2018 and 2017, capitalized interest totaled zero. Business Combinations We evaluate acquisitions of assets and other similar transactions to assess whether or not the transaction should be accounted for as a business combination by assessing whether or not we have acquired inputs and processes that have the ability to create outputs. If determined to be a business combination, we account for a business acquisition under the acquisition method of accounting. The accounting rules governing business combinations require the acquiring entity in a business combination to recognize the fair value of all assets acquired and liabilities assumed and establish the acquisition date as the fair value measurement point. Accordingly, we recognize assets acquired and liabilities assumed in a business combination based on the fair value estimates as of the date of acquisition. Goodwill is measured as the excess of the fair value of the consideration paid over the fair value of the identified net assets, including intangible assets, acquired. The fair value measurement of the identified net assets requires the significant use of estimates and is based on information that was available to management at the time the purchase price allocation was prepared. We utilize recognized valuation techniques, including the cost approach, the market approach and the income approach, to value the net assets acquired. The impact of changes to the estimated fair values of assets acquired and liabilities assumed is recorded in the reporting period in which the adjustment is identified. Final valuations of assets and liabilities are obtained and recorded within one year from the date of the acquisition. Impairment of Long-Lived Assets The recoverability of the carrying values of long-lived assets, including amortizable intangible assets, is assessed whenever, in management’s judgment, events or changes in circumstances indicate that the carrying value of such asset groups may not be recoverable based on estimated future cash flows. If this assessment indicates that the carrying values will not be recoverable, as determined based on undiscounted cash flows over the remaining useful lives, an impairment loss is recognized. The impairment loss equals the excess of the carrying value over the fair value of the asset group. In performing this analysis, the first step is to review asset groups at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. For each asset group, we compare its carrying value to estimates of undiscounted future cash flows. We use a variety of underlying assumptions to estimate these future cash flows, including assumptions relating to future economic market conditions, rates, occupancy levels, costs and expenses and capital expenditures. The estimates are consistent with those used for purposes of our goodwill impairment test, as further discussed in Goodwill and Other Intangible Assets, below. Based on the assessment, if the carrying values of certain of our asset groups are determined to not be recoverable, we proceed to the second step. In this step, we compare the fair value of the respective asset group to its carrying value. The fair value of the asset groups are based on prices of similar assets, if available, or discounted cash flows. Our estimate of the fair value requires us to use significant unobservable inputs, representative of Level 3 fair value measurements, including numerous assumptions with respect to future circumstances, such as industry and/or local market conditions that might directly impact each of the asset groups’ operations in the future. Please see Note 4 – Impairment Charges for a discussion of impairment charges we recognized in 2019, 2018 and 2017 related to our long-lived assets. Goodwill and Other Intangible Assets Goodwill. Goodwill represents the excess of the purchase price paid for acquired businesses over the allocated fair value of the related net assets after impairments, if applicable. We do not amortize goodwill. We evaluate goodwill for impairment, at the reporting unit level, annually and when an event occurs or circumstances change to suggest that the carrying amount may not be recoverable. A reporting unit is the operating segment, or a business one level below that operating segment (the “component” level) if discrete financial information is prepared and regularly reviewed by management at the component level. Each segment of our business represents a separate reporting unit. In the fourth quarter of 2019, we adopted Accounting Standard Update (ASU) 2017-04, "Intangibles-Goodwill and Other (Topic 350)" to simplify the test for goodwill impairment. Under the revised guidance, an entity recognizes an impairment charge for the amount by which the carrying amount of the reporting unit exceeds its fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to the reporting unit. In connection with our 2018 acquisition of Noralta Lodge Ltd. (Noralta), referred to herein as the Noralta Acquisition, we recognized $123.6 million of goodwill in our Canadian reporting unit. In connection with our acquisition of 2019 Action Industrial Catering (Action), referred to herein as the Action Acquisition, we recognized $7.9 million of goodwill in our Australian reporting unit. For further discussion, please see Note 7 - Acquisitions and Note 11 - Goodwill and Other Intangible Assets. We conduct our annual impairment test as of November 30 of each year. We compare each reporting unit’s carrying amount, including goodwill, to the fair value of the reporting unit. If the carrying amount of the reporting unit exceeds its fair value, goodwill is impaired. We are given the option to test for impairment of our goodwill by first performing a qualitative assessment to determine whether it is more likely than not (that is, likelihood of more than 50 percent) that the fair value of a reporting unit is less than its carrying amount, including goodwill. If it is determined that it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, then performing the currently prescribed impairment test is unnecessary. In developing a qualitative assessment to meet the “more-likely-than-not” threshold, each reporting unit with goodwill is assessed separately and different relevant events and circumstances are evaluated for each unit. We have the option to bypass the qualitative assessment for any reporting unit in any period and proceed directly to performing the goodwill impairment test. When performing our annual assessment on November 30, 2019, due to a reduction in our share price in the fourth quarter of 2019, we chose to bypass the qualitative assessment and proceed directly to the impairment test for goodwill in our Canadian and Australian reporting units. In performing the goodwill impairment test, we compare each reporting unit’s carrying amount, including goodwill, to the fair value of the reporting unit. Because none of our reporting units has a publicly quoted market price, we must determine the value that willing buyers and sellers would place on the reporting unit through a routine sale process (a Level 3 fair value measurement). In our analysis, we target a fair value that represents the value that would be placed on the reporting unit by market participants, and value the reporting unit based on historical and projected results throughout a cycle, not the value of the reporting unit based on trough or peak earnings. The fair value of the reporting unit is estimated using a combination of (i) an analysis of trading multiples of comparable companies (Market Approach) and (ii) discounted projected cash flows (Income Approach). The relative weighting of each approach reflects current industry and market conditions. Market Approach - This valuation approach utilizes publicly traded comparable companies’ enterprise values, as compared to their recent and forecasted earnings before interest, taxes and depreciation (EBITDA) information. We use EBITDA because it is a widely used key indicator of the cash generating capacity of companies in our industry. Income Approach - This valuation approach derives a present value of the reporting unit’s projected future annual cash flows over the next five years with a terminal value assumption. We use a variety of underlying assumptions to estimate these future cash flows, including assumptions relating to future economic market conditions, rates, occupancy levels, costs and expenses and capital expenditures. These assumptions can vary by each reporting unit depending on market conditions. In addition, a terminal value is estimated, using a Gordon Growth methodology with a long-term growth rate of 2%. We discount our projected cash flows using a long-term weighted average cost of capital based on our estimate of investment returns that would be required by a market participant. The fair value of our reporting units is affected by future oil, coal and natural gas prices, anticipated spending by our customers, and the cost of capital. Our estimate of fair value requires us to use significant unobservable inputs, representative of Level 3 fair value measurements, including numerous assumptions with respect to future circumstances, such as industry and/or local market conditions that might directly impact each of the reporting units’ operations in the future. We selected these valuation approaches because we believe the combination of these approaches and our best judgment regarding underlying assumptions and estimates provides us with the best estimate of fair value for each of our reporting units. We believe these valuation approaches are proven valuation techniques and methodologies for our industry and widely accepted by investors. The fair value of each reporting unit would change if our assumptions under these valuation approaches, or relative weighting of the valuation approaches, were materially modified. Please see Note 4 – Impairment Charges for a discussion of impairment charges we recognized in 2019 related to our goodwill. Other Intangible Assets. We amortize the cost of other intangible assets using the straight-line method over their estimated useful lives unless such lives are deemed indefinite. For intangible assets that we amortize, we review the useful life of the intangible asset and evaluate each reporting period whether events and circumstances warrant a revision to the remaining useful life. We evaluate the remaining useful life of an intangible asset that is not being amortized each reporting period to determine whether events and circumstances continue to support an indefinite useful life. We are required to evaluate our indefinite-lived intangible assets for impairment annually and when an event occurs or circumstances change to suggest the carrying amount may not be recoverable. In performing the impairment test, we compare the fair value of the indefinite-lived intangible asset with its carrying amount. The measurement of the impairment is calculated based on the excess of the carrying value over its fair value. Foreign Currency and Other Comprehensive Income Gains and losses resulting from consolidated balance sheet translation of foreign operations where a foreign currency is the functional currency are included as a separate component of accumulated other comprehensive income within shareholders’ equity representing substantially all of the balances within accumulated other comprehensive income. Remeasurements of intercompany loans denominated in a different currency than the functional currency of the entity that are of a long-term investment nature are recognized as other comprehensive income within shareholders’ equity. Gains and losses resulting from consolidated balance sheet remeasurements of assets and liabilities denominated in a different currency than the functional currency, other than intercompany loans that are of a long-term investment nature, are included in the consolidated statements of operations as incurred. For the years ended December 31, 2019, 2018, and 2017, we recognized approximately $0.3 million, $0.8 million and $1.5 million in foreign currency losses, respectively. Foreign Currency Exchange Rate Risk A significant portion of revenues, earnings and net investments in foreign affiliates are exposed to changes in foreign currency exchange rates. We seek to manage our foreign exchange risk in part through operational means, including managing expected local currency revenues in relation to local currency costs and local currency assets in relation to local currency liabilities. We have not entered into any foreign currency forward contracts. Revenue and Cost Recognition We generally recognize accommodation, mobile facility rental, food service and other services revenues over time as our customers simultaneously receive and consume benefits as we serve our customers because of continuous transfer of control to the customer. Revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. We transfer control and recognize a sale based on a periodic (usually daily) room rate each night a customer stays in our rooms or when the services are rendered. In some contracts, rates may vary over the contract term. In these cases, revenue may be deferred and recognized on a straight-line basis over the contract term. A limited portion of our revenue is recognized at a point in time when control transfers to the customer related to small modular construction and manufacturing contracts, minor food service arrangements and optional purchases our customers make for incidental services offered at our accommodation and mobile facilities. For significant construction projects, manufacturing revenues are recognized over time with progress towards completion measured using the cost based input method as the basis to recognize revenue and an estimated profit. Billings on such contracts in excess of costs incurred and estimated profits are classified as deferred revenue. Costs incurred and estimated profits in excess of billings on these contracts are recognized as unbilled receivables. Management believes this input method is the most appropriate measure of progress to the satisfaction of a performance obligation on larger modular construction and manufacturing contracts. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in job performance, job conditions, estimated profitability and final contract settlements may result in revisions to projected costs and revenue and are recognized in the period in which the revisions to estimates are identified and the amounts can be reasonably estimated. Factors that may affect future project costs and margins include weather, production efficiencies, availability and costs of labor, materials and subcomponents. These factors can significantly impact the accuracy of our estimates and materially impact our future reported earnings. Because of control transferring over time, the majority of our revenue is recognized based on the extent of progress towards completion of the performance obligation. At contract inception, we assess the goods and services promised in our contracts with customers and identify a performance obligation for each promise to transfer our customers a good or service (or bundle of goods or services) that is distinct. Our customers typically contract for hospitality services under take-or-pay contracts with terms that most often range from several months to three years. Our contract terms generally provide for a rental rate for a reserved room and an occupied room rate that compensates us for services provided. We typically contract our facilities to our customers on a fee per day basis where the goods and services promised include lodging and meals. To identify the performance obligations, we consider all of the goods and services promised in the context of the contract and the pattern of transfer to our customers. Revenues exclude taxes assessed based on revenues such as sales or value added taxes. Cost of services includes labor, food, utility costs, cleaning supplies, and other costs of operating our accommodations facilities. Cost of goods sold includes all direct material and labor costs and those costs related to contract performance, such as indirect labor, supplies, tools and repairs. Selling, general and administrative costs are charged to expense as incurred. Income Taxes Our operations are subject to Canadian federal and provincial income taxes, as well as foreign income taxes. We determine the provision for income taxes using the asset and liability approach. Under this approach, deferred income taxes represent the expected future tax consequences of temporary differences between the carrying amounts and tax bases of assets and liabilities. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized. In assessing the need for a valuation allowance, we look to the future reversal of existing taxable temporary differences, taxable income in carryback years, the feasibility of tax planning strategies and estimated future taxable income. The valuation allowance can be affected by changes to tax laws, changes to statutory tax rates and changes to future taxable income estimates and historical losses. We recognize tax benefits from uncertain tax positions only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the consolidated financial statements from such positions are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Please see Note 16 – Income Taxes for further information. Receivables and Concentration of Credit Risk Based on the nature of our customer base, we do not believe that we have any significant concentrations of credit risk other than our concentration in the Canadian oil sands and Australian mining industries. We evaluate the credit-worthiness of our significant, new and existing customers’ financial condition and, generally, we do not require collateral from our customers. For the year ended December 31, 2019, each of Imperial Oil and Fort Hills Energy LP accounted for more than 10% of our revenues. For the year ended December 31, 2018, each of Imperial Oil, Fort Hills Energy LP and Suncor Energy Inc. accounted for more than 10% of our revenues. For the year ended December 31, 2017, each of Imperial Oil and Fort Hills Energy LP accounted for more than 10% of our revenues. Asset Retirement Obligations We have AROs that we are required to perform under law or contract once an asset is permanently taken out of service. We record the fair value of the liability, which reflects the estimated present value of the amount of asset removal and site reclamation costs related to the retirement of our assets, for an ARO when it is incurred (typically when the asset is installed). When the liability is initially recorded, we capitalize the associated asset retirement cost by increasing the carrying amount of the related property, plant and equipment. Over time, the liability increases for the change in its present value, while the capitalized cost depreciates over the useful life of the related asset. Accretion expense is recognized over the estimated productive life of the related assets. If the fair value of the estimated ARO changes, an adjustment is recorded to both the ARO and the capitalized asset retirement cost. Revisions in estimated liabilities can result from changes in estimated inflation rates, changes in service and equipment costs and changes in the estimated timing of settling the ARO. We utilize current retirement costs to estimate the expected cash outflows for retirement obligations. We estimate the ultimate productive life of the properties and a risk-adjusted discount rate in order to determine the current present value of the obligation. We relieve ARO liabilities when the related obligations are settled. Most of these obligations are not expected to be paid until many years in the future and will be funded from general company resources at the time of removal. Please see Note 15 – Asset Retirement Obligations for further discussion. Share-Based Compensation We sponsor an equity participation plan in which certain of our employees participate. We measure the cost of employee services received in exchange for an award of equity instruments (typically restricted share awards and deferred share awards) based on the grant-date fair value of the award. The fair value is calculated based on our share price on the grant-date. The resulting cost is recognized over the period during which an employee is required to provide service in exchange for the awards, usually the vesting period. We also grant phantom shares. All of the awards vest in equal annual installments and are accounted for as a liability based on the fair value of our share price. Participants granted units of phantom shares are entitled to a lump sum cash payment equal to the fair market value of a common share on the vesting date. We also grant performance share awards. These awards are earned in amounts between 0% and 200% of the participant’s target performance share award, based on the payout percentage associated with Civeo’s relative total shareholder return rank among a peer group of other companies. The fair value is estimated using option-pricing models. The resulting cost is recognized over the period during which an employee is required to provide service in exchange for the awards, usually the vesting period. Guarantees Substantially all of our Canadian and U.S. subsidiaries are guarantors under our Credit Agreement. See Note 12 – Debt. During the ordinary course of business, we also provide standby letters of credit or other guarantee instruments to certain parties as required for certain transactions initiated by us or our subsidiaries. As of December 31, 2019, the maximum potential amount of future payments that we could be required to make under these guarantee agreements (letters of credit) was approximately $2.5 million. We have not recorded any liability in connection with these guarantee arrangements. We do not believe, based on historical experience and information currently available, that it is likely that any amounts will be required to be paid under these guarantee arrangements. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires the use of estimates and assumptions by management in determining the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Examples of a few such estimates include revenue and income recognized on the cost-based input method, estimates of the amount and timing of costs to be incurred for AROs, any valuation allowance recorded on net deferred tax assets, warranty claims, long-lived asset and goodwill impairments and allowance for doubtful accounts. Actual results could materially differ from those estimates. Accounting for Contingencies We have contingent liabilities and future claims for which we have made estimates of the amount of the eventual cost to liquidate these liabilities or claims. These liabilities and claims sometimes involve threatened or actual litigation where damages have been quantified and we have made an assessment of our exposure and recorded a provision in our accounts to cover an expected loss. Other claims or liabilities have been estimated based on their fair value or our experience in these matters and, when appropriate, the advice of outside counsel or other outside experts. Upon the ultimate resolution of these uncertainties, our future reported financial results will be impacted by the difference between our estimates and the actual amounts paid to settle a liability. Examples of areas where we have made important estimates of future liabilities include litigation, taxes, interest, insurance claims, warranty claims, contract claims and obligations. Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (the FASB), which are adopted by us as of the specified effective date. Unless otherwise discussed, management believes that the impact of recently issued standards or other guidance updates, which are not yet effective, will not have a material impact on our consolidated financial statements upon adoption. In January 2017, the FASB issued ASU 2017-04, "Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment." The standard simplifies the accounting for goodwill impairment by requiring a goodwill impairment to be measured using a single step impairment model, whereby the impairment equals the difference between the carrying amount and the fair value of the specified reporting units in their entirety. This eliminates the second step of the current impairment model that requires companies to first estimate the fair value of all assets in a reporting unit and measure impairments based on those fair values and a residual measurement approach. It also specifies that any loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. ASU 2017-04 is effective prospectively for public business entities for annual reporting periods beginning after December 15, 2019, and early adoption is permitted. We adopted ASU 2017-04 in the fourth quarter of 2019. Based on the results of the impairment test, we recognized an impairment expense of $19.9 million related to our Canadian reporting unit. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses” (ASU 2016-13). This new standard changes how companies will measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. ASU 2016-13 is effective for financial statements issued for reporting periods beginning after December 15, 2019 and interim periods within the reporting periods. We will adopt ASU 2016-13 as of January 1, 2020. The adoption of this new standard will not have a material impact on our consolidated financial statements. We adopted ASU 2016-02, “Leases” (Topic 842) effective January 1, 2019 using the optional transition method, which allowed us upon adoption to recognize a cumulative-effect adjustment to the opening balance of accumulated deficit for the application of the standard to our existing leases. We recognized a cumulative effect adjustment of $0.7 million (net of $0.2 million of taxes) to increase accumulated deficit in the consolidated balance sheet as of December 31, 2019. ASU 2016-02 requires lessees to recognize a lease liability and a right-of-use asset for certain leases. We elected the package of practical expedients, which among other things, allowed us to carry forward the historical lease identification and classification. In addition, we elected the short-term lease recognition exemption for all leases that qualify. Accordingly, we did not recognize right-of-use assets or lease liabilities for leases with terms shorter than 12 months. Our evaluation process included reviewing all forms of leases, performing a completeness assessment over the lease population and analyzing the available practical expedients in order to determine the best implementation strategy. We determined that certain of our accommodation contracts with customers contain both a lease and non-lease or service component and in those instances concluded the service component was the predominant component. As a result, we elected the practical expedient under ASU 2018-11, which allows us to combine the lease and non-lease components of revenues as Service and other revenues for presentation purposes in accordance with Accounting Standards Codification (ASC) Topic 606, “Revenue from Contracts with Customers” (ASC 606). We also identified certain arrangements with customers whereby we are a lessor for the rental of mobile camp assets primarily in our U.S. segment. For arrangements where we are the lessor, the adoption of the new lease standard did not have a material impact on our financial statements as all of our leases are operating leases, which will result in straight-line recognition of rental revenue. Adoption of the new standard resulted in $21.3 million of operating lease right-of-use assets and $22.4 million of operating lease liabilities as of January 1, 2019. Please see Note 13 – Leases for further information.

Details of Selected Balance Sheet Accounts - Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Accounts receivable, net:
Accounts receivable	$ 99,746	$ 70,599
Allowance for doubtful accounts	(253)	(376)
Total accounts receivable, net	99,493	70,223
Trade
Accounts receivable, net:
Accounts receivable	76,370	48,875
Unbilled revenue
Accounts receivable, net:
Accounts receivable	23,041	21,169
Other
Accounts receivable, net:
Accounts receivable	$ 335	$ 555

Income Taxes - Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Canadian federal tax benefit at statutory rates	$ (10,361)	$ (16,982)	$ (17,812)
Canadian Federal tax benefit at statutory rates, percent	15.00%	15.00%	15.00%
Canadian provincial income tax	$ (5,158)	$ (12,105)	$ (10,457)
Canadian provincial income tax, percent	7.50%	10.70%	8.80%
Effect of foreign income tax, net	$ 55	$ (1,756)	$ (6,797)
Effect of foreign income tax, net, percent	(0.10%)	1.60%	5.70%
Valuation allowance – Other	$ 2,257	$ (622)	$ 19,131
Valuation allowance - other, percent	(3.30%)	0.50%	(16.10%)
Enacted tax rate change - Canada	$ (2,452)	$ 0	$ 598
Enacted tax rate change - Canada, percent	3.50%	0.00%	(0.50%)
U.S tax reform rate change	$ 0	$ 0	$ 9,047
U.S tax reform rate change, percent	0.00%	0.00%	(7.60%)
Valuation allowance - U.S. tax reform	$ 0	$ 0	$ (9,047)
Valuation allowance - U.S. tax reform, percent	0.00%	0.00%	7.60%
Goodwill impairment	$ 4,689	$ 0	$ 0
Goodwill impairment, percent	(6.80%)	0.00%	0.00%
Nondeductible compensation	$ 1,203	$ 181	$ 0
Nondeductible compensation - percent	(1.70%)	(0.20%)	0.00%
Intercompany unrealized foreign currency translation	$ (1,451)	$ 0	$ 0
Intercompany unrealized foreign currency translation, percent	2.10%	0.00%	0.00%
Other, net	$ 477	$ (81)	$ 1,847
Other, net, percent	(0.70%)	0.10%	(1.50%)
Net income tax benefit	$ (10,741)	$ (31,365)	$ (13,490)
Net income tax benefit, percent	15.50%	27.70%	11.40%

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Income tax benefit. Pre-tax loss for the years ended December 31, 2019, 2018 and 2017 consisted of the following (in thousands):



	2019			2018			2017
Canada operations	$	(60,372	)	$	(100,874	)	$	(87,143	)
Foreign operations	(8,703		)	(12,338		)	(31,601		)
Total	$	(69,075	)	$	(113,212	)	$	(118,744	)

Schedule of Components of Income Tax Expense (Benefit)

The components of the income tax expense (benefit) for the years ended December 31, 2019, 2018 and 2017 consisted of the following (in thousands):



	2019			2018			2017
Current:
Canada	$	706		$	(1,151	)	$	(5,986	)
Foreign	266			1,189			1,472
Total	$	972		$	38		$	(4,514	)

Deferred:
Canada	$	(9,399	)	$	(31,403	)	$	(9,194	)
Foreign	(2,314		)	—			218
Total	$	(11,713	)	$	(31,403	)	$	(8,976	)

Net income tax benefit	$	(10,741	)	$	(31,365	)	$	(13,490	)

Schedule of Effective Income Tax Rate Reconciliation

The net income tax benefit differs from an amount computed at Canadian statutory rates as follows for the years ended December 31, 2019, 2018 and 2017 (in thousands):



	2019					2018					2017
Canadian federal tax benefit at statutory rates	$	(10,361	)	15.0	%	$	(16,982	)	15.0	%	$	(17,812	)	15.0	%
Canadian provincial income tax	(5,158		)	7.5	%	(12,105		)	10.7	%	(10,457		)	8.8	%
Effect of foreign income tax, net	55			(0.1	)%	(1,756		)	1.6	%	(6,797		)	5.7	%
Valuation allowance – Other	2,257			(3.3	)%	(622		)	0.5	%	19,131			(16.1	)%
Enacted tax rate change - Canada	(2,452		)	3.5	%	—			—	%	598			(0.5	)%
U.S tax reform rate change	—			—	%	—			—	%	9,047			(7.6	)%
Valuation allowance - U.S. tax reform	—			—	%	—			—	%	(9,047		)	7.6	%
Goodwill impairment	4,689			(6.8	)%	—			—	%	—			—	%
Nondeductible compensation	1,203			(1.7	)%	181			(0.2	)%	—			—	%
Unrealized intercompany foreign currency translation gain	(1,451		)	2.1	%	—			—	%	—			—	%
Other, net	477			(0.7	)%	(81		)	0.1	%	1,847			(1.5	)%
Net income tax benefit	$	(10,741	)	15.5	%	$	(31,365	)	27.7	%	$	(13,490	)	11.4	%

Schedule of Deferred Tax Assets and Liabilities

Deferred Tax Liabilities and Assets. The significant items giving rise to the deferred tax assets and liabilities as of December 31, 2019 and 2018 are as follows (in thousands):



	2019			2018
Deferred tax assets:
Net operating loss	$	97,920		$	92,600
Employee benefits	3,082			2,972
Deductible goodwill and other intangibles	26,030			20,142
Other reserves	6,150			6,903
Unearned revenue	441			868
Operating lease liabilities	6,499			—
Other	3,242			2,000
Deferred tax assets	143,364			125,485
Valuation allowance	(84,503		)	(82,833		)
Deferred tax assets, net	$	58,861		$	42,652
Deferred tax liabilities:
Depreciation and amortization	$	(62,296	)	$	(61,094	)
Operating lease right-of-use assets	(6,017		)	—
Deferred tax liabilities	(68,313		)	(61,094		)
Net deferred tax liability	$	(9,452	)	$	(18,442	)

Summary Of Operating Loss and Tax Credit Carry forwards

NOL Carryforwards. The following table summarizes net operating loss (NOL) carryforwards at December 31, 2019 (in thousands):



	Amount		Expiration Period
Net operating loss carryforwards:
Canada – Federal and provincial	$	207,606	Begins to expire in 2035
Australia	109,355		Does not expire
U.S. – Federal	36,030		Begins to expire in 2036
U.S. – Federal	14,416		Does not expire
U.S. – State, tax effected	5,608		Begins to expire in 2020

Summary of Valuation Allowance

Changes in our valuation allowance for the years ended December 31, 2019 and 2018 are as follows (in thousands):



	Federal / State NOLs			Net Deferred Tax Assets			Other			Total
Balance as of December 31, 2017	$	(31,399	)	$	(58,518	)	$	(746	)	$	(90,663	)
Change in income tax provision	(1,464		)	2,086			—			622
Other change	(348		)	1,495			(28		)	1,119
Foreign currency translation	3,907			2,122			60			6,089
Balance as of December 31, 2018	(29,304		)	(52,815		)	(714		)	(82,833		)
Change in income tax provision	(456		)	(1,946		)	145			(2,257		)
Other change	1,095			(690		)	94			499
Foreign currency translation	52			68			(32		)	88
Balance as of December 31, 2019	$	(28,613	)	$	(55,383	)	$	(507	)	$	(84,503	)

Preferred Shares

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Preferred Shares

PREFERRED SHARES

As further discussed in Note 7 – Acquisitions, on April 2, 2018, we issued 9,679 Preferred Shares as part of the Noralta Acquisition. The Preferred Shares have an initial liquidation preference of $10,000 per share. Holders of the Preferred Shares are entitled to receive a 2% annual dividend on the liquidation preference paid quarterly in cash or, at our option, by increasing the Preferred Shares’ liquidation preference or any combination thereof. As of December 31, 2019, Preferred Shares outstanding were 9,042. The decrease in Preferred Shares outstanding since the close of the Noralta Acquisition was due to the release of 637 Preferred Shares initially held in escrow to support certain obligations of the Noralta Acquisition.

The Preferred Shares are convertible into our common shares at a conversion price of $3.30 per Preferred Share, subject to certain anti-dilution adjustments (the Conversion Price). We have the right to elect to convert the Preferred Shares into our common shares if the 15-day volume weighted average price of our common shares is equal to or exceeds the Conversion Price. Holders of the Preferred Shares will have the right to convert the Preferred Shares into our common shares at any time after 2 years from the date of issuance, and the Preferred Shares mandatorily convert after 5 years from the date of issuance. The Preferred Shares also convert automatically into our common shares upon a change of control of Civeo. We may, at any time and from time to time, redeem any or all of the Preferred Shares for cash at the liquidation preference, plus accrued and unpaid dividends.

The Preferred Shares do not have voting rights, except as statutorily required.

During the years ended December 31, 2019 and 2018, we recognized preferred dividends on the Preferred Shares as follows (in thousands):



	2019		2018
Deemed dividend on beneficial conversion feature at April 2, 2018	$	—	$	47,849
In-kind dividends	1,849		1,459
Deemed dividend on beneficial conversion feature related to in-kind dividend	—		281
Total preferred dividends	$	1,849	$	49,589

At the time the Preferred Shares were issued, we determined that a beneficial conversion feature existed as the fair value of the securities into which the Preferred Shares were convertible was greater than the effective conversion price on the issuance date. Accordingly, we recorded a beneficial conversion feature of $47.8 million. As the Preferred Shares do not have a stated redemption date, the discount is required to be recognized as a dividend over the minimum period from the date of issuance through the date of earliest conversion. Because the 15-day volume weighted average price of our common shares was greater than $3.30 on April 2, 2018, the earliest conversion date was determined to be April 2, 2018. Accordingly, we recorded a deemed dividend on April 2, 2018 totaling the discount of $47.8 million.

The Board of Directors elected to pay the dividends for the quarterly period beginning June 30, 2018 and ending December 31, 2019 through an increase in the liquidation preference rather than in cash. The paid-in-kind dividend of $1.8 million and $1.5 million is included in Preferred dividends on the consolidated statement of operations for the years ended December 31, 2019 and 2018, respectively.

Preferred Shares - Dividends (Details) - USD ($) $ in Thousands		12 Months Ended
	Apr. 02, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Equity [Abstract]
Deemed dividend on beneficial conversion feature	$ 47,800	$ 0	$ 47,849
In-kind dividends		1,849	1,459	$ 0
Deemed dividend on beneficial conversion feature related to in-kind dividend		0	281
Total preferred dividends		$ 1,849	$ 49,589

Impairment Charges - Narrative (Details) - USD ($)	3 Months Ended					12 Months Ended
Impairment Charges - Narrative (Details) - USD ($)	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Impaired Long-Lived Assets Held and Used [Line Items]
Goodwill, impairment loss	$ 19,900,000
Property, plant and equipment, net	590,309,000					$ 590,309,000	$ 658,905,000
Impairment of long-lived assets held-for-use	702,000	$ 5,546,000	$ 28,661,000	$ 27,244,000	$ 4,360,000
Asset retirement obligation, accretion expense						1,538,000	1,689,000	$ 1,353,000
Asset retirement obligation, current						$ 497,000	6,629,000	$ 86,000
Canada
Impaired Long-Lived Assets Held and Used [Line Items]
Goodwill, impairment loss	19,900,000
Impairment of long-lived assets held-for-use	702,000	0	28,661,000	27,244,000	4,360,000
Australia
Impaired Long-Lived Assets Held and Used [Line Items]
Goodwill, impairment loss	0
Impairment of long-lived assets held-for-use	0	5,546,000	0	0	0
U.S.
Impaired Long-Lived Assets Held and Used [Line Items]
Goodwill, impairment loss	0
Impairment of long-lived assets held-for-use	$ 0	0	0	0	0
Canadian Lodge In Southern Alberta \| Canada
Impaired Long-Lived Assets Held and Used [Line Items]
Property, plant and equipment, net		515,000	$ 0				$ 0
Impairment of long-lived assets held-for-use		4,500,000		$ 27,200,000
Open Camp Assets \| Canada
Impaired Long-Lived Assets Held and Used [Line Items]
Property, plant and equipment, net					0
Impairment of long-lived assets held-for-use					3,200,000
Undeveloped Land Positions \| Canada
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets held-for-use					$ 1,200,000
Restatement Adjustment \| Previously Unrecorded Liability For Asset Retirement Obligation \| Australia Village \| Australia
Impaired Long-Lived Assets Held and Used [Line Items]
Depreciation and amortization		500,000
Impairment expense		1,000,000
Asset retirement obligation, accretion expense		900,000
Asset retirement obligation, current		$ 2,300,000

Accumulated Other Comprehensive Loss	12 Months Ended
Accumulated Other Comprehensive Loss	Dec. 31, 2019
Equity [Abstract]
Accumulated Other Comprehensive Loss	ACCUMULATED OTHER COMPREHENSIVE LOSS Our accumulated other comprehensive loss decreased $8.1 million from $371.2 million at December 31, 2018 to $363.2 million at December 31, 2019, as a result of foreign currency exchange rate fluctuations. Changes in other comprehensive loss during 2019 were primarily driven by the Canadian dollar increasing in value compared to the U.S. dollar. Excluding intercompany balances, our Canadian dollar and Australian dollar functional currency net assets totaled approximately C$0.3 billion and A$0.4 billion, respectively, at December 31, 2019.

Accumulated Other Comprehensive Loss - Narrative (Details) $ in Thousands, $ in Billions, $ in Billions	12 Months Ended
	Dec. 31, 2019 USD ($)	Dec. 31, 2019 CAD ($)	Dec. 31, 2019 AUD ($)	Dec. 31, 2018 USD ($)
Equity [Abstract]
Decrease in comprehensive loss due to foreign currency exchange rate fluctuations	$ (8,100)
Accumulated other comprehensive loss	$ (363,173)			$ (371,249)
Foreign functional currency net assets		$ 0.3	$ 0.4

Consolidated Balance Sheets (Parentheticals) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	9,042	9,042
Preferred stock, shares outstanding (in shares)	9,042	9,042
Preferred stock, liquidation preference, value	$ 93,627,392	$ 98,243,690
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	550,000,000	550,000,000
Common stock, shares issued (in shares)	171,656,039	166,392,479
Common stock, shares outstanding (in shares)	169,556,403	165,932,334
Treasury shares (in shares)	2,099,636	460,145

Supplemental Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2019

Supplemental Cash Flow Information [Abstract]

Schedule of Cash Flow, Supplemental Disclosures

Cash paid during the years ended December 31, 2019, 2018 and 2017 for interest and income taxes was as follows (in thousands):



	2019		2018			2017
Interest (net of amounts capitalized)	$	23,882	$	23,098		$	17,362
Net income taxes paid (refunds received)	1,045		(5,271		)	(7,755		)

Quarterly Financial Information (Unaudited) - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended									12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Condensed Financial Statements, Captions [Line Items]
Impairment of long-lived assets held-for-use	$ 702		$ 5,546				$ 28,661	$ 27,244	$ 4,360
Goodwill, impairment loss	19,900
Asset retirement obligation	$ 18,796			$ 18,381				$ 17,185		$ 18,796	$ 18,381	$ 17,185	$ 17,584
Costs included in selling, general and administrative expense										59,586	67,036	63,431
Costs included in other income										$ 7,281	$ 1,623	$ 1,308
Asset Retirement Obligation Costs [Member]
Condensed Financial Statements, Captions [Line Items]
Gain on sale of village in Australia					$ 2,200
Noralta Acquisition
Condensed Financial Statements, Captions [Line Items]
Acquisition related costs				2,100
Costs included in service, other and product costs				600
Costs included in selling, general and administrative expense				600
Costs included in other income				900
Australian Segment
Condensed Financial Statements, Captions [Line Items]
Accretion expense related to ARO			900
Depreciation and amortization			500
Impairment expense			1,000
Asset retirement obligation			2,300
Impairment Expense \| CANADA
Condensed Financial Statements, Captions [Line Items]
Impairment effect on earnings per share, after tax	$ 0.12
Impairment Expense \| Canadian Segment
Condensed Financial Statements, Captions [Line Items]
Impairment of long-lived assets held-for-use	$ 700						28,700
Impairment of long-lived assets held for use, net of tax							$ 20,900
Goodwill, impairment loss	$ 19,900
Impairment effect on earnings per share, after tax	$ 0.00						$ 0.16
Impairment Expense \| Australian Segment
Condensed Financial Statements, Captions [Line Items]
Impairment of long-lived assets held-for-use			4,500
Impairment of long-lived assets held for use, net of tax	$ 500		$ 4,500
Impairment effect on earnings per share, after tax			$ 0.03
Selling, General and Administrative Expenses \| Noralta Acquisition
Condensed Financial Statements, Captions [Line Items]
Acquisition related costs					500	$ 5,600	$ 1,000
Acquisition related costs net of tax				$ 1,700	$ 400	$ 5,100	$ 1,000
Acquisition related costs per diluted share (in USD per share)				$ 0.01	$ 0.00	$ 0.03	$ 0.01
Selling, General and Administrative Expenses \| Action Acquisition
Condensed Financial Statements, Captions [Line Items]
Acquisition related costs	$ 200	$ 200
Acquisition related costs net of tax		$ 200
Acquisition related costs per diluted share (in USD per share)	$ 0.00	$ 0.00
Incorrectly Recorded Depreciation Expense
Condensed Financial Statements, Captions [Line Items]
Reversal of depreciation costs				$ 2,800

Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information (Unaudited)

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

The following table summarizes quarterly financial information for 2019 and 2018 (in thousands, except per share amounts):



	First Quarter⁽²⁾			Second Quarter ⁽³⁾			Third Quarter ⁽⁴⁾			Fourth Quarter ⁽⁵⁾
2019
Revenues	$	108,550		$	122,153		$	148,163		$	148,689
Gross profit(1)	28,920			36,913			48,683			46,225
Net (loss) income attributable to Civeo	(17,498		)	(15,310		)	4,532			(32,064		)
Basic (loss) income per share	(0.11		)	(0.09		)	0.02			(0.19		)
Diluted (loss) income per share	(0.11		)	(0.09		)	0.02			(0.19		)

2018
Revenues	$	101,504		$	130,177		$	120,491		$	114,520
Gross profit(1)	23,803			40,722			38,264			31,489
Net loss attributable to Civeo	(55,457		)	(48,321		)	(14,250		)	(13,804		)
Basic loss per share	(0.42		)	(0.29		)	(0.09		)	(0.08		)
Diluted loss per share	(0.42		)	(0.29		)	(0.09		)	(0.08		)


(1)	Represents "revenues" less "product costs" and "service and other costs" included in our consolidated statements of operations.


(2)	In the first quarter of 2019, there were no significant items recognized.

In the first quarter of 2018, we recognized the following items:


•	A charge of $28.7 million ($20.9 million after-tax, or $0.16 per diluted share), related to certain lodge assets in the Canadian oil sands which carrying values we determined not to be recoverable. The charge, which is related to our Canadian segment, is included in Impairment expense on the accompanying consolidated statements of operations.


•	Costs associated with the Noralta Acquisition of $1.0 million ($1.0 million after-tax, or $0.01 per diluted share), included in Selling, general and administrative expenses on the accompanying consolidated statements of operations.


(3)	In the second quarter of 2019, we recognized the following items:


•	A charge of $4.5 million ($4.5 million after-tax, or $0.03 per diluted share), related to assets in our Australian segment. The charge is included in Impairment expense on the accompanying consolidated statements of operations.

•

We identified a liability related to an ARO at one of our villages in Australia that should have been recorded in 2011. We determined that the error was not material to our previously issued financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2018, and therefore, corrected the error in the second quarter of 2019. Specifically, we recorded: (1) additional accretion expense related to the ARO of $0.9 million, (2) additional depreciation and amortization expense of $0.5 million related to amortization of the related asset retirement cost and (3) additional impairment expense related to the impairment of the asset retirement cost of $1.0 million offset by recognition of an ARO liability totaling $2.3 million as of June 30, 2019.

In the second quarter of 2018, we recognized the following items:


•	Costs associated with the Noralta Acquisition of $5.6 million ($5.1 million after-tax, or $0.03 per diluted share), included primarily in Selling, general and administrative expenses on the accompanying consolidated statements of operations.


(4)	In the third quarter of 2019, we recognized the following items:


•	A gain on sale of assets related to the sale of a village in Australia and related $2.2 million release of an ARO liability assumed by the buyer.


•	Costs associated with the Action acquisition of $0.2 million ($0.2 million after-tax, or $0.00 per diluted share), included primarily in Selling, general and administrative expenses on the accompanying consolidated statements of operations.

In the third quarter of 2018, we recognized the following items:


•	Costs associated with the Noralta Acquisition of $0.5 million ($0.4 million after-tax, or $0.00 per diluted share), included primarily in Selling, general and administrative expenses on the accompanying consolidated statements of operations.


(5)	In the fourth quarter of 2019, we recognized the following items:


•	Goodwill impairment loss of $19.9 million ($19.9 million after-tax, or $0.12 per diluted share) related to our Canada reporting unit. The charge is included in Impairment expense on the accompanying consolidated statements of operations.


•	A charge of $0.7 million ($0.5 million after-tax, or $0.00 per diluted share), related to assets in our Canada segment. The charge is included in Impairment expense on the accompanying consolidated statements of operations.


•	Costs associated with the Action acquisition of $0.2 million ($0.2 million after-tax, or $0.00 per diluted share), included primarily in Selling, general and administrative expenses on the accompanying consolidated statements of operations.

In the fourth quarter of 2018, we recognized the following items:


•	Costs associated with the Noralta Acquisition of $2.1 million ($1.7 million after-tax, or $0.01 per diluted share), included in Service and other costs ($0.6 million), Selling, general and administrative expenses ($0.6 million) and Other income ($0.9 million) on the accompanying consolidated statements of operations.


•	Reversal of depreciation expense of $2.8 million that should not have been recorded in the first, second and third quarters of 2018. We determined that the overstatement of depreciation expense was not material to our financial statements for the periods ended September 30, June 30 or March 31, 2018 and therefore corrected the error in the fourth quarter of 2018.

Amounts are calculated independently for each of the quarters presented. Therefore, the sum of the quarterly amounts may not equal the total calculated for the year.

Preferred Shares - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended	12 Months Ended
	Apr. 02, 2018	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Preferred stock, shares outstanding (in shares)		9,042	9,042	9,042
Weighted average share price	$ 3.30
Deemed dividend on beneficial conversion feature	$ 47,800		$ 0	$ 47,849
In-kind dividends			1,849	1,459	$ 0
Deemed dividend on beneficial conversion feature related to in-kind dividend			$ 0	$ 281
Right to convert to common shares (in years)			2 years
Mandatory conversion of common shares (in years)			5 years
Series A Preferred Stock
Class of Stock [Line Items]
Annual percentage dividend on liquidation preference	2.00%
Noralta \| Preferred Shares
Class of Stock [Line Items]
Escrow deposits, preferred shares released (in shares)	692
Noralta \| Preferred Shares \| Series A Preferred Stock
Class of Stock [Line Items]
Preferred shares issued (in shares)	9,679
Initial liquidation preference per share (in USD per share)	$ 10,000
Escrow deposits, preferred shares released (in shares)		637
Preferred Stock Convertible into Common Stock
Class of Stock [Line Items]
Conversion price (in USD per share)			$ 3.30

Retirement Plans (Details) $ in Millions	12 Months Ended
Retirement Plans (Details) $ in Millions	Dec. 31, 2019 USD ($)	Dec. 31, 2019 CAD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Defined Contribution Plan Disclosure [Line Items]
Recognized defined contribution plan expense	$ 5.3		$ 4.9	$ 4.8
Required years of service for vesting in employer contributions,	2 years	2 years
Deferred Profit Sharing Plan
Defined Contribution Plan Disclosure [Line Items]
Percentage of contributed employee gross pay matched by employer	5.00%	5.00%
Maximum annual contributions per employee		$ 13,615
Group Registered Retirement Savings Plan
Defined Contribution Plan Disclosure [Line Items]
Percentage of contributed employee gross pay matched by employer	6.00%	6.00%
Maximum annual contributions per employee		$ 26,500
Australian Retirement Savings Plan
Defined Contribution Plan Disclosure [Line Items]
Percentage of contributed employee gross pay matched by employer	9.50%	9.50%
U.S. Retirement Savings Plan
Defined Contribution Plan Disclosure [Line Items]
Percentage of contributed employee gross pay matched by employer	6.00%	6.00%
U.S. Retirement Savings Plan \| Minimum
Defined Contribution Plan Disclosure [Line Items]
Maximum annual percent of pay contributed by employee	1.00%	1.00%
U.S. Retirement Savings Plan \| Maximum
Defined Contribution Plan Disclosure [Line Items]
Required years of service for vesting in employer contributions,	3 years	3 years
Maximum annual percent of pay contributed by employee	75.00%	75.00%
U.S. Retirement Savings Plan \| First 4% of employee pay contributed matched at 100%
Defined Contribution Plan Disclosure [Line Items]
Percentage of contributed employee gross pay matched by employer	4.00%	4.00%
Percent of employer matching contribution	100.00%	100.00%
U.S. Retirement Savings Plan \| Next 2% of employee pay contributed matched at 50%
Defined Contribution Plan Disclosure [Line Items]
Percentage of contributed employee gross pay matched by employer	2.00%	2.00%
Percent of employer matching contribution	50.00%	50.00%
U.S. Retirement Savings Plan \| 40% Vesting Rate
Defined Contribution Plan Disclosure [Line Items]
Annual vesting percentage	40.00%	40.00%
U.S. Retirement Savings Plan \| 40% Vesting Rate \| Minimum
Defined Contribution Plan Disclosure [Line Items]
Required years of service for vesting in employer contributions,	2 years	2 years
U.S. Retirement Savings Plan \| 20% Vesting Rate
Defined Contribution Plan Disclosure [Line Items]
Annual vesting percentage	20.00%	20.00%

Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

As of December 31, 2019 and 2018, long-term debt consisted of the following (in thousands):



	December 31, 2019		December 31, 2018
Canadian term loan, which matures on November 30, 2021 (except for non-extending lenders - see below); 3.125% of aggregate principal repayable per quarter; weighted average interest rate of 5.8% for the twelve-month period ended December 31, 2019	224,963		247,910
U.S. revolving credit facility, which matures on November 30, 2021 (except for non-extending lenders - see below), weighted average interest rate of 7.6% for the twelve-month period ended December 31, 2019	—		—
Canadian revolving credit facility, which matures on November 30, 2021 (except for non-extending lenders - see below), weighted average interest rate of 6.7% for the twelve-month period ended December 31, 2019	134,117		114,348
Australian revolving credit facility, which matures on November 30, 2021 (except for non-extending lenders - see below), weighted average interest rate of 5.3% for the twelve-month period ended December 31, 2019	—		16,918
	359,080		379,176
Less: Unamortized debt issuance costs	2,208		2,939
Total debt	356,872		376,237
Less: Current portion of long-term debt, including unamortized debt issuance costs, net	35,080		33,329
Long-term debt, less current maturities	$	321,792	$	342,908

Schedule of Maturities of Long-term Debt

Scheduled maturities of long-term debt as of December 31, 2019 are as follows (in thousands):



	Year Ending December 31,
2020	35,427
2021	323,653
	$	359,080

Schedule Of Changes In Maximum Leverage Ratio



Period Ended	Maximum Leverage Ratio
December 31, 2019	4.00 : 1:00
March 31, 2020, June 30, 2020 & September 30, 2020	3:75 : 1:00
December 31, 2020 & thereafter	3.50 : 1:00

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Debt - Long-term Debt (Details) - USD ($) $ in Thousands	12 Months Ended
Debt - Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Debt, gross	$ 359,080	$ 379,176
Less: Unamortized debt issuance costs	2,208	2,939
Total debt	356,872	376,237
Less: Current portion of long-term debt, including unamortized debt issuance costs, net	35,080	33,329
Long-term debt, less current maturities	321,792	342,908
Canadian Term Loan
Debt Instrument [Line Items]
Canadian term loan	$ 224,963	247,910
Term loan, weighted-average interest rate	5.80%
Aggregate principal repayable per quarter	3.125%
US Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facilities	$ 0	0
Line of credit facility, interest rate	7.60%
Canadian Credit Facility 2
Debt Instrument [Line Items]
Revolving credit facilities	$ 134,117	114,348
Line of credit facility, interest rate	6.70%
Australian Credit Facility
Debt Instrument [Line Items]
Revolving credit facilities	$ 0	$ 16,918
Line of credit facility, interest rate	5.30%

Income Taxes - Changes in Valuation Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Deferred Tax Assets, Changes in Valuation Allowance
Balance at Beginning of Period	$ (82,833)	$ (90,663)
Change in income tax provision	(2,257)	622
Other change	499	1,119
Foreign currency translation	88	6,089
Balance at End of Period	(84,503)	(82,833)
Federal / State NOLs
Deferred Tax Assets, Changes in Valuation Allowance
Balance at Beginning of Period	(29,304)	(31,399)
Change in income tax provision	(456)	(1,464)
Other change	1,095	(348)
Foreign currency translation	52	3,907
Balance at End of Period	(28,613)	(29,304)
Net Deferred Tax Assets
Deferred Tax Assets, Changes in Valuation Allowance
Balance at Beginning of Period	(52,815)	(58,518)
Change in income tax provision	(1,946)	2,086
Other change	(690)	1,495
Foreign currency translation	68	2,122
Balance at End of Period	(55,383)	(52,815)
Other
Deferred Tax Assets, Changes in Valuation Allowance
Balance at Beginning of Period	(714)	(746)
Change in income tax provision	145	0
Other change	94	(28)
Foreign currency translation	(32)	60
Balance at End of Period	$ (507)	$ (714)

Acquisitions - Noralta Business Acquisition (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		12 Months Ended
	Apr. 02, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Mar. 29, 2018
Business Acquisition [Line Items]
Common share price (in usd per share)					$ 3.77
Cash consideration		$ 16,434	$ 171,337	$ 0
Noralta
Business Acquisition [Line Items]
Cash consideration	$ 157,539
Total purchase consideration	340,203
Less: Common shares held in escrow	(8,825)
Less: Cash held in escrow	(11,607)
Less: Preferred Shares held in escrow	(4,221)
Total purchase consideration	$ 315,550
Common Shares \| Noralta
Business Acquisition [Line Items]
Common shares issued (in shares)	32,791
Common share and preferred share consideration	$ 123,622
Preferred Shares \| Noralta
Business Acquisition [Line Items]
Common share and preferred share consideration	$ 59,042

Share Based Compensation - Narrative (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Maximum number of common shares authorized			18,700,000
Allocated share-based compensation expense			$ 13,900,000	$ 16,400,000	$ 15,400,000
Income tax benefit for share based compensation arrangements			$ 700,000	$ 1,200,000	$ 0
Options to purchase common shares awarded			0	0	0
Total intrinsic value of options exercised			$ 0	$ 0
Tax benefits from options exercised			0	$ 0	$ 0
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of options exercised			$ 0
Restricted Stock and Deferred Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value per share (in dollars per share)			$ 2.29	$ 3.42	$ 3.14
Fair value of restricted share and deferred share awards vested		$ 2,000,000	$ 4,000,000	$ 3,800,000
Unrecognized compensation cost related to restricted share and deferred share awards			$ 5,300,000
Weighted average recognition period for unrecognized shares			1 year 175 days
Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value per share (in dollars per share)			$ 2.53	$ 0	$ 3.27
Weighted average recognition period for unrecognized shares			2 years 50 days
Liability for phantom share awards			$ 800,000
Phantom share cash payments			5,300,000	$ 8,200,000	$ 7,100,000
Unrecognized compensation cost			1,300,000
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense			$ 4,300,000	$ 4,600,000	$ 3,000,000
Weighted average recognition period for unrecognized shares			1 year 240 days
Unrecognized compensation cost			$ 5,100,000
Performance Shares \| Civeo Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value per share (in dollars per share)			$ 3.73	$ 5.30	$ 5.20

Details of Selected Balance Sheet Accounts (Tables)

12 Months Ended

Dec. 31, 2019

Balance Sheet Related Disclosures [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

Additional information regarding selected balance sheet accounts at December 31, 2019 and 2018 is presented below (in thousands):



	December 31, 2019			December 31, 2018
Accounts receivable, net:
Trade	$	76,370		$	48,875
Unbilled revenue	23,041			21,169
Other	335			555
Total accounts receivable	99,746			70,599
Allowance for doubtful accounts	(253		)	(376		)
Total accounts receivable, net	$	99,493		$	70,223

Schedule of Inventory, Current



	December 31, 2019		December 31, 2018
Inventories:
Finished goods and purchased products	$	3,982	$	2,461
Work in process	813		945
Raw materials	1,082		907
Total inventories	$	5,877	$	4,313

Property, Plant and Equipment



	Estimated Useful Life (in years)	December 31, 2019			December 31, 2018
Property, plant and equipment, net:
Land		$	43,147		$	46,805
Accommodations assets	3-15	1,696,425			1,650,758
Buildings and leasehold improvements	7-20	26,108			25,168
Machinery and equipment	4-15	12,060			10,693
Office furniture and equipment	3-7	58,005			54,459
Vehicles	3-5	14,604			14,589
Construction in progress		4,286			7,119
Total property, plant and equipment		1,854,635			1,809,591
Accumulated depreciation		(1,264,326		)	(1,150,686		)
Total property, plant and equipment, net		$	590,309		$	658,905

Schedule of Accrued Liabilities



	December 31, 2019		December 31, 2018
Accrued liabilities:
Accrued compensation	$	17,169	$	13,545
Accrued taxes, other than income taxes	3,152		2,177
Other	1,434		234
Total accrued liabilities	$	21,755	$	15,956

Quarterly Financial Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information

The following table summarizes quarterly financial information for 2019 and 2018 (in thousands, except per share amounts):



	First Quarter⁽²⁾			Second Quarter ⁽³⁾			Third Quarter ⁽⁴⁾			Fourth Quarter ⁽⁵⁾
2019
Revenues	$	108,550		$	122,153		$	148,163		$	148,689
Gross profit(1)	28,920			36,913			48,683			46,225
Net (loss) income attributable to Civeo	(17,498		)	(15,310		)	4,532			(32,064		)
Basic (loss) income per share	(0.11		)	(0.09		)	0.02			(0.19		)
Diluted (loss) income per share	(0.11		)	(0.09		)	0.02			(0.19		)

2018
Revenues	$	101,504		$	130,177		$	120,491		$	114,520
Gross profit(1)	23,803			40,722			38,264			31,489
Net loss attributable to Civeo	(55,457		)	(48,321		)	(14,250		)	(13,804		)
Basic loss per share	(0.42		)	(0.29		)	(0.09		)	(0.08		)
Diluted loss per share	(0.42		)	(0.29		)	(0.09		)	(0.08		)


(1)	Represents "revenues" less "product costs" and "service and other costs" included in our consolidated statements of operations.


(2)	In the first quarter of 2019, there were no significant items recognized.

In the first quarter of 2018, we recognized the following items:


•	A charge of $28.7 million ($20.9 million after-tax, or $0.16 per diluted share), related to certain lodge assets in the Canadian oil sands which carrying values we determined not to be recoverable. The charge, which is related to our Canadian segment, is included in Impairment expense on the accompanying consolidated statements of operations.


•	Costs associated with the Noralta Acquisition of $1.0 million ($1.0 million after-tax, or $0.01 per diluted share), included in Selling, general and administrative expenses on the accompanying consolidated statements of operations.


(3)	In the second quarter of 2019, we recognized the following items:


•	A charge of $4.5 million ($4.5 million after-tax, or $0.03 per diluted share), related to assets in our Australian segment. The charge is included in Impairment expense on the accompanying consolidated statements of operations.

•

In the second quarter of 2018, we recognized the following items:


•	Costs associated with the Noralta Acquisition of $5.6 million ($5.1 million after-tax, or $0.03 per diluted share), included primarily in Selling, general and administrative expenses on the accompanying consolidated statements of operations.


(4)	In the third quarter of 2019, we recognized the following items:


•	A gain on sale of assets related to the sale of a village in Australia and related $2.2 million release of an ARO liability assumed by the buyer.


•	Costs associated with the Action acquisition of $0.2 million ($0.2 million after-tax, or $0.00 per diluted share), included primarily in Selling, general and administrative expenses on the accompanying consolidated statements of operations.

In the third quarter of 2018, we recognized the following items:


•	Costs associated with the Noralta Acquisition of $0.5 million ($0.4 million after-tax, or $0.00 per diluted share), included primarily in Selling, general and administrative expenses on the accompanying consolidated statements of operations.


(5)	In the fourth quarter of 2019, we recognized the following items:


•	Goodwill impairment loss of $19.9 million ($19.9 million after-tax, or $0.12 per diluted share) related to our Canada reporting unit. The charge is included in Impairment expense on the accompanying consolidated statements of operations.


•	A charge of $0.7 million ($0.5 million after-tax, or $0.00 per diluted share), related to assets in our Canada segment. The charge is included in Impairment expense on the accompanying consolidated statements of operations.


•	Costs associated with the Action acquisition of $0.2 million ($0.2 million after-tax, or $0.00 per diluted share), included primarily in Selling, general and administrative expenses on the accompanying consolidated statements of operations.

In the fourth quarter of 2018, we recognized the following items:


•	Costs associated with the Noralta Acquisition of $2.1 million ($1.7 million after-tax, or $0.01 per diluted share), included in Service and other costs ($0.6 million), Selling, general and administrative expenses ($0.6 million) and Other income ($0.9 million) on the accompanying consolidated statements of operations.


•	Reversal of depreciation expense of $2.8 million that should not have been recorded in the first, second and third quarters of 2018. We determined that the overstatement of depreciation expense was not material to our financial statements for the periods ended September 30, June 30 or March 31, 2018 and therefore corrected the error in the fourth quarter of 2018.

Details of Selected Balance Sheet Accounts - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 1,854,635	$ 1,809,591
Accumulated depreciation	(1,264,326)	(1,150,686)
Total property, plant and equipment, net	590,309	658,905
Land
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	43,147	46,805
Accommodations assets
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 1,696,425	1,650,758
Accommodations assets \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	3 years
Accommodations assets \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	15 years
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 26,108	25,168
Buildings and leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	7 years
Buildings and leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	20 years
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 12,060	10,693
Machinery and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	4 years
Machinery and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	15 years
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 58,005	54,459
Office furniture and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	3 years
Office furniture and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	7 years
Vehicles
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 14,604	14,589
Vehicles \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	3 years
Vehicles \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	5 years
Construction in progress
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 4,286	$ 7,119

Quarterly Financial Information (Unaudited) - Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 148,689	$ 148,163	$ 122,153	$ 108,550	$ 114,520	$ 120,491	$ 130,177	$ 101,504	$ 527,555	$ 466,692	$ 382,276
Gross profit	46,225	48,683	36,913	28,920	31,489	38,264	40,722	23,803
Net (loss) income attributable to Civeo	$ (32,064)	$ 4,532	$ (15,310)	$ (17,498)	$ (13,804)	$ (14,250)	$ (48,321)	$ (55,457)
Basic (loss) per share (in dollars per share)	$ (0.19)	$ 0.02	$ (0.09)	$ (0.11)	$ (0.08)	$ (0.09)	$ (0.29)	$ (0.42)	$ (0.36)	$ (0.84)	$ (0.82)
Diluted (loss)per share (in dollars per share)	$ (0.19)	$ 0.02	$ (0.09)	$ (0.11)	$ (0.08)	$ (0.09)	$ (0.29)	$ (0.42)	$ (0.36)	$ (0.84)	$ (0.82)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

Description of Business and Basis of Presentation	12 Months Ended
Description of Business and Basis of Presentation	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Description of the Business We are a hospitality company servicing the natural resources industry in Canada, Australia and the U.S. We provide a full suite of hospitality services for our guests, including lodging, food service, housekeeping and maintenance at accommodation facilities that we or our customers own. In many cases, we provide services that support the day-to-day operations of accommodation facilities, such as laundry, facility management and maintenance, water and wastewater treatment, power generation, communication systems, security and logistics. We also offer development activities for workforce accommodation facilities, including site selection, permitting, engineering and design, manufacturing management and site construction, along with providing hospitality services once the facility is constructed. We primarily operate in some of the world’s most active oil, metallurgical (met) coal and iron ore producing regions, and our customers include major and independent oil companies, mining companies, engineering companies and oilfield and mining service companies. We operate in three principal reporting business segments – Canada, Australia and the U.S. Basis of Presentation Unless otherwise stated or the context otherwise indicates: (i) all references in these consolidated financial statements to “Civeo,” “us,” “our” or “we” refer to Civeo Corporation and its consolidated subsidiaries; and (ii) all references in this report to “dollars” or “$” are to U.S. dollars. Certain reclassifications have been made to the prior years' consolidated financial statements to conform to the current year presentation.

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Purchase consideration for Noralta acquisition

The purchase consideration and estimated fair value of Noralta’s net assets acquired as of April 2, 2018 is presented as follows:



(In thousands, except per share data)
Common shares issued	32,791
Common share price as of March 29, 2018	$	3.77
Common share consideration			$	123,622
Cash consideration (1)			157,539
Preferred Share consideration			59,042
Total purchase consideration			$	340,203
Less: Common shares held in escrow			(8,825		)
Less: Cash held in escrow			(11,607		)
Less: Preferred Shares held in escrow			(4,221		)
Total purchase consideration			$	315,550

(1)Net of $3.6 million in cash released to us to cover purchase price adjustments related to a working capital shortfall at closing.

Estimated fair values of assets acquired and liabilities assumed

The following table summarizes the fair values of the assets acquired and liabilities assumed at April 2, 2018 (in thousands):



Cash and cash equivalents	$	24
Accounts receivable (1)	21,456
Inventories	839
Other current assets	4,266
Property, plant and equipment	129,424
Goodwill	123,569
Intangible assets	110,736
Total assets acquired	390,314

Accounts payable and accrued liabilities	15,023
Income taxes payable	1,038
Other current liabilities	2,027
Deferred income taxes	51,543
Other noncurrent liabilities	5,133
Total liabilities assumed	74,764
Net assets acquired	$	315,550


(1)	The aggregate fair value of the acquired accounts receivable approximated the aggregate gross contractual amount.

Purchase price allocation of identifiable intangible assets and liabilities

The purchase price allocation to the identifiable intangible assets and liabilities is as follows (in thousands):



	Fair Value at April 2, 2018
Amortizable Intangible Assets
Trade name	$	1,474
Contracts	106,766
Favorable lease contract	2,496
Total amortizable intangible assets	$	110,736

Amortizable Intangible Liabilities
Unfavorable lease contracts	$	2,456
Total amortizable intangible liabilities	$	2,456

Net intangible assets	$	108,280

Supplemental unaudited proforma financial information

The unaudited pro forma results do not purport to be indicative of the results of operations had the transaction occurred on the date indicated or of future results for the combined entities (in thousands, except per share data):



	Years Ended December 31, (Unaudited)
	Pro forma			Pro forma
	2018			2017
Revenues	$	501,275		$	506,040
Net loss attributable to Civeo Corporation common shareholders	(129,900		)	(91,420		)
Basic net loss per share attributable to Civeo Corporation common shareholders	$	(0.83	)	$	(0.57	)
Diluted net loss per share attributable to Civeo Corporation common shareholders	$	(0.83	)	$	(0.57	)

Acquisitions - Arcadia Acres Narrative (Details) - Lakeland $ in Millions	Feb. 28, 2018 USD ($) a Room shares
Business Acquisition [Line Items]
Total purchase consideration	$ 28.0
Cash payment	23.5
Value of shares issued as consideration for acquisitions	$ 4.5
Common shares issued (in shares) \| shares	1,200,000.0
Number of rooms \| Room	400
Area of land \| a	40
Amortizable Intangible Assets	$ 8.2
Remaining contract term of customer contract acquired	16 months

Acquisitions - Noralta Acquisition Narrative (Details) $ / shares in Units, $ in Thousands, $ in Millions				3 Months Ended					12 Months Ended
	Jul. 01, 2019 USD ($)	Apr. 02, 2018 USD ($) shares	Apr. 02, 2018 CAD ($) shares	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2018 USD ($) shares	Sep. 30, 2018 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Mar. 29, 2018 USD ($) $ / shares
Business Acquisition [Line Items]
Goodwill				$ 110,173			$ 114,207		$ 110,173	$ 114,207	$ 0
Share price (in usd per share) \| $ / shares												$ 3.77
Other income									$ 7,281	1,623	1,308
Action
Business Acquisition [Line Items]
Finite-lived intangible assets acquired	$ 8,400
Goodwill	7,900
Action \| Selling, General and Administrative Expenses
Business Acquisition [Line Items]
Acquisition related costs				$ 200	$ 200
Noralta
Business Acquisition [Line Items]
Total consideration paid to acquire business		$ 161,200	$ 207.7
Goodwill		123,569
Escrow deposit disbursements		3,600				$ 2,100	10,400	$ 3,600
Escrow deposit disbursements released to seller							1,200
Revenues										85,800
Gross profit										31,500
Payment of consideration from escrow		$ 11,600
Other income							$ (800)
Acquisition related costs										9,100
Noralta \| Service and Other Costs
Business Acquisition [Line Items]
Acquisition related costs										1,000
Noralta \| Selling, General and Administrative Expenses
Business Acquisition [Line Items]
Acquisition related costs										7,200	$ 2,300
Noralta \| Other Income
Business Acquisition [Line Items]
Acquisition related costs										$ 900
Common Shares \| Noralta
Business Acquisition [Line Items]
Common shares issued (in shares) \| shares		32,791,000	32,791,000
Number of shares held in escrow (in shares) \| shares		13,500,000	13,500,000
Escrow deposit disbursements (in shares) \| shares							2,200,000
Escrow deposits, preferred shares released (in shares) \| shares		2,400,000	2,400,000
Escrow deposit disbursements related to seller (in shares) \| shares							200,000
Preferred Shares \| Noralta
Business Acquisition [Line Items]
Escrow deposits, preferred shares released (in shares) \| shares		692	692
Series A Preferred Stock \| Preferred Shares \| Noralta
Business Acquisition [Line Items]
Common shares issued (in shares) \| shares		9,679	9,679
Initial liquidation preference amount		$ 96,800
Number of shares issued upon conversion \| shares		29,300,000
Escrow deposits, preferred shares released (in shares) \| shares							637
Number of shares held in escrow \| shares							55
Equity interest percent												61.00%
Equity interest liquidation preference												$ 96,800
Australian Segment \| Action
Business Acquisition [Line Items]
Total consideration paid to acquire business	$ 16,900
Contract-Based Intangible Assets \| Noralta
Business Acquisition [Line Items]
Finite-lived intangible assets, useful life		20 years	20 years
Trade name \| Noralta
Business Acquisition [Line Items]
Finite-lived intangible assets, useful life		9 months	9 months
Minimum \| Unfavorable lease contracts \| Noralta
Business Acquisition [Line Items]
Finite-lived intangible assets, useful life		3 years 9 months 21 days	3 years 9 months 21 days
Maximum \| Unfavorable lease contracts \| Noralta
Business Acquisition [Line Items]
Finite-lived intangible assets, useful life		9 years 3 months 18 days	9 years 3 months 18 days

Segment and Related Information

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Segment and Related Information

SEGMENT AND RELATED INFORMATION

In accordance with current accounting standards regarding disclosures about segments of an enterprise and related information, we have identified the following reporting segments: Canada, Australia and U.S., which represent our strategic focus on hospitality services and workforce accommodations.

Financial information by business segment for each of the three years ended December 31, 2019, 2018 and 2017 is summarized in the following table (in thousands):



	Total Revenues		Depreciation and amortization		Operating (loss) income			Capital expenditures		Total assets
2019
Canada	$	325,651	$	66,557	$	(32,313	)	$	22,124	$	850,361
Australia	156,093		39,116		517			3,456		278,268
United States	45,811		10,987		(11,214		)	3,104		46,862
Corporate and eliminations	—		7,108		(6,041		)	1,128		(205,579		)
Total	$	527,555	$	123,768	$	(49,051	)	$	29,812	$	969,912

2018
Canada	$	296,012	$	66,980	$	(63,519	)	$	6,025	$	804,618
Australia	119,238		40,441		(1,950		)	4,658		292,271
United States	51,442		10,626		(8,640		)	5,388		60,282
Corporate and eliminations	—		7,799		(13,946		)	1,037		(155,494		)
Total	$	466,692	$	125,846	$	(88,055	)	$	17,108	$	1,001,677

2017
Canada	$	245,595	$	69,983	$	(63,211	)	$	3,893	$	550,378
Australia	111,221		45,699		(11,528		)	2,772		353,840
United States	25,460		4,653		(14,426		)	1,912		33,128
Corporate and eliminations	—		6,108		(8,806		)	2,617		(83,434		)
Total	$	382,276	$	126,443	$	(97,971	)	$	11,194	$	853,912



	Canada		Australia		U.S. and Other		Total
2019
Revenues from unaffiliated customers	$	325,651	$	156,093	$	45,811	$	527,555
Long-lived assets	558,310		242,002		38,159		838,471

2018
Revenues from unaffiliated customers	$	296,012	$	119,238	$	51,442	$	466,692
Long-lived assets	580,644		263,094		50,142		893,880

2017
Revenues from unaffiliated customers	$	245,595	$	111,221	$	25,460	$	382,276
Long-lived assets	353,710		331,511		32,280		717,501

Revenue

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue

REVENUE



	2019		2018		2017
Canada
Accommodation revenues	$	281,577	$	266,899	$	228,062
Mobile facility rental revenues	9,575		9,316		3,935
Food service and other services revenues	33,485		15,601		11,891
Manufacturing revenues	1,014		4,196		1,707
Total Canada revenues	325,651		296,012		245,595

Australia
Accommodation revenues	$	126,047	$	117,896	$	111,221
Food service and other services revenues	30,046		1,342		—
Total Australia revenues	156,093		119,238		111,221

United States
Accommodation revenues	$	12,462	$	18,288	$	9,832
Mobile facility rental revenues	28,119		20,389		8,764
Manufacturing revenues	5,085		12,595		6,693
Food service and other services revenues	145		170		171
Total United States revenues	45,811		51,442		25,460

Total revenues	$	527,555	$	466,692	$	382,276

Our payment terms vary by the type and location of our customer and the products or services offered. The term between invoicing and when our performance obligations are satisfied is not significant. Payment terms are generally within 30 days. We do not have significant financing components or significant payment terms.



	For the years ending December 31,
	2020		2021		2022		Thereafter		Total
Revenue expected to be recognized as of December 31, 2019	$	140,846	$	52,962	$	22,706	$	8,413	$	224,927

Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Supplemental balance sheet information

pplemental balance sheet information related to leases were as follows (in thousands):



	December 31, 2019
Operating leases
Operating lease right-of-use assets	$	24,876

Other current liabilities	$	5,543
Operating lease liabilities	21,231
Total operating lease liabilities	$	26,774

Weighted average remaining lease term
Operating leases	6.2 years
Weighted average discount rate
Operating leases	5.9		%

Operating lease maturity schedule

turities of operating lease liabilities at December 31, 2019, were as follows (in thousands):



For the years ending December 31,
2020	$	6,979
2021	5,074
2022	4,501
2023	3,882
2024	3,405
Thereafter	8,141
Total lease payments	31,982
Less imputed interest	5,208
Total	$	26,774

Income Taxes - Components of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current:
Canada	$ 706	$ (1,151)	$ (5,986)
Foreign	266	1,189	1,472
Total	972	38	(4,514)
Deferred:
Canada	(9,399)	(31,403)	(9,194)
Foreign	(2,314)	0	218
Total	(11,713)	(31,403)	(8,976)
Net income tax benefit	$ (10,741)	$ (31,365)	$ (13,490)

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Weighted average remaining amortization period (in years)	16 years 280 days	16 years 215 days
Amortization expense	$ 14.8	$ 17.6	$ 7.3

Asset Retirement Obligations - Change in Asset Retirement Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Balance, beginning	$ 18,381	$ 17,185	$ 17,584
Accretion of discount	1,538	1,689	1,353
New obligations	497	6,629	86
Change in estimates of existing obligations	(1,989)	(4,336)	(1,901)
Settlement of obligations	(462)	(1,013)	(816)
Foreign currency translation	831	(1,773)	879
Balance, ending	$ 18,796	$ 18,381	$ 17,185

Assets Held for Sale - Narrative (Details) $ in Thousands	3 Months Ended
Assets Held for Sale - Narrative (Details) $ in Thousands	Mar. 31, 2019 USD ($) Property	Dec. 31, 2018 USD ($) Property	Dec. 31, 2019 USD ($) Property	Dec. 31, 2017 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Estimated fair value of assets held for sale		$ 10,297	$ 7,589
Modular Construction and Manufacturing Plant Near Edmonton, Alberta, Canada \| Canadian Segment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Recorded value of remaining Nisku, Alberta, Canada land title				$ 4,800
Undeveloped Land Positions in the British Columbia Segment \| Canadian Segment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of land positions	$ 4,000
Estimated fair value of assets held for sale			1,700
Number of Real Estate Properties \| Property	4
Noralta \| Corporate Office, Nisku Alberta, Canada \| Canadian Segment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Recorded value of remaining Nisku, Alberta, Canada land title			$ 1,100
Number of Real Estate Properties \| Property			2
Number of Real Estate Properties Sold \| Property		1