0001590584-22-000011 | 10-K | XBRL Viewer

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Consolidated Balance Sheets (Parentheticals) $ in Thousands	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share) \| $ / shares	$ 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 \| $	$ 97,438,687	$ 95,514,031
Common stock, par value (in dollars per share) \| $ / shares	$ 0	$ 0
Common stock, shares authorized (in shares)	46,000,000	46,000,000
Common stock, shares issued (in shares)	14,431,819	14,478,878
Common stock, shares outstanding (in shares)	14,111,221	14,215,169
Treasury shares (in shares)	320,598	263,709

GOODWILL AND OTHER INTANGIBLE ASSETS - Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 205,357	$ 209,784
Accumulated Amortization	(111,745)	(110,066)
Indefinite-Lived Intangible Assets Not Subject to Amortization	30	31
Total intangible assets	205,387	209,815
Licenses
Finite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets Not Subject to Amortization	30	31
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	42,752	44,817
Accumulated Amortization	(42,604)	(44,521)
Trade name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,554	3,678
Accumulated Amortization	(3,554)	(3,678)
Contracts / agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	159,051	161,289
Accumulated Amortization	$ (65,587)	$ (61,867)

ASSET RETIREMENT OBLIGATIONS - Change in Asset Retirement Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning balance	$ 14,993	$ 18,796	$ 18,381
Accretion of discount	1,429	1,526	1,538
New obligations	0	0	497
Change in estimates of existing obligations	(763)	(3,961)	(1,989)
Settlement of obligations	(1,943)	(1,771)	(462)
Foreign currency translation	29	403	831
Ending balance	$ 13,745	$ 14,993	$ 18,796

Consolidated Balance Sheets - USD ($)
$ in Thousands

Dec. 31, 2021

Dec. 31, 2020

Current assets:

Cash and cash equivalents

$ 6,282

$ 6,155

Accounts receivable, net

114,859

89,782

Inventories

6,468

6,181

Prepaid expenses

6,876

7,020

Other current assets

10,946

6,165

Assets held for sale

11,762

3,910

Total current assets

157,193

119,213

Property, plant and equipment, net

389,996

486,930

Goodwill

8,204

8,729

Other intangible assets, net

93,642

99,749

Operating lease right-of-use assets

18,327

22,606

Other noncurrent assets

5,372

3,626

Total assets

672,734

740,853

Current liabilities:

Accounts payable

49,321

42,056

Accrued liabilities

33,564

27,349

Income taxes

171

203

Current portion of long-term debt

30,576

34,585

Deferred revenue

18,479

6,812

Other current liabilities

4,807

5,760

Total current liabilities

136,918

116,765

Long-term debt, less current maturities

142,602

214,000

Deferred income taxes

896

Operating lease liabilities

15,429

19,834

Other noncurrent liabilities

13,778

14,897

Total liabilities

309,623

365,496

Commitments and contingencies (Note 15)

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 $97,438,687 and $95,514,031 as of December 31, 2021 and 2020)

61,941

60,016

Common shares (no par value; 46,000,000 shares authorized, 14,431,819 shares and 14,478,878 shares issued, respectively, and 14,111,221 shares and 14,215,169 shares outstanding, respectively) (1)

^[1]

Additional paid-in capital

1,582,442

1,578,315

Accumulated deficit

(912,951)

(907,727)

Common shares held in treasury at cost, 320,598 and 263,709 shares, respectively

(8,050)

(6,930)

Accumulated other comprehensive loss

(361,883)

(348,989)

Total Civeo Corporation shareholders’ equity

361,499

374,685

Noncontrolling interest

1,612

672

Total shareholders’ equity

363,111

375,357

Total liabilities and shareholders’ equity

$ 672,734

$ 740,853

[1]	Reflects our 1-for-12 reverse share split that became effective November 19, 2020. See Note 1 - Description of Business and Basis of Presentation to the notes to the consolidated financial statements in Item 8 of this annual report for further discussion.

INCOME TAXES - Consolidated Pre-tax Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Canada operations	$ 2,498	$ (137,239)	$ (60,372)
Foreign operations	3,375	(6,176)	(8,703)
Income (loss) before income taxes	$ 5,873	$ (143,415)	$ (69,075)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

PREFERRED SHARES

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

PREFERRED SHARES

As further discussed in Note 21 – Acquisitions, on April 2, 2018, we issued 9,679 Preferred Shares as part of the Noralta Acquisition. The Preferred Shares had 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, 2021, 9,042 Preferred Shares were outstanding. 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 $39.60 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, 2021, 2020 and 2019, we recognized preferred dividends on the Preferred Shares as follows (in thousands):


	2021		2020		2019

In-kind dividends	$	1,925	$	1,887	$	1,849

Total preferred dividends	$	1,925	$	1,887	$	1,849

The Board of Directors elected to pay the dividends for each quarterly period beginning June 30, 2019 through December 31, 2021 through an increase in the liquidation preference rather than in cash. The paid-in-kind dividend of $1.9 million, $1.9 million and $1.8 million is included in Preferred dividends on the accompanying consolidated statements of operations for the years ended December 31, 2021, 2020 and 2019, respectively.

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION - Narrative (Details)		12 Months Ended
	Nov. 19, 2020 $ / shares	Dec. 31, 2021 segment shares	Dec. 31, 2020 shares	Nov. 20, 2020 $ / shares shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments \| segment		3
Reverse stock split, conversion ratio	0.0833
Common stock, shares issued (in shares)		14,431,819	14,478,878	14,215,169
Common stock, shares outstanding (in shares)		14,111,221	14,215,169	14,215,169
Share price (in dollars per share) \| $ / shares	$ 3.30			$ 39.60

GOODWILL AND OTHER INTANGIBLE ASSETS - Amortization Schedule (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 6,103
2023	5,955
2024	5,955
2025	5,872
2026	5,872
Thereafter	63,855
Total	$ 93,612

SEGMENT AND RELATED INFORMATION - Financial Information By Geographic Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues from unaffiliated customers	$ 594,463	$ 529,729	$ 527,555
Long-lived assets	515,541	621,640	838,471
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues from unaffiliated customers	321,378	269,649	325,651
Canada \| Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues from unaffiliated customers	321,378	269,649	325,651
Long-lived assets	325,160	368,636	558,310
Australia
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues from unaffiliated customers	251,074	234,542	156,093
Australia \| Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues from unaffiliated customers	251,074	234,542	156,093
Long-lived assets	177,607	229,629	242,002
U.S. and Other \| Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues from unaffiliated customers	22,011	25,538	45,811
Long-lived assets	$ 12,774	$ 23,375	$ 38,159

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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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, 2021	Dec. 31, 2020	Dec. 31, 2019
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	458,175	134,128	188,883
Granted	351,853	413,569	117,943
Vested	(163,499)	(55,977)	(171,641)
Forfeited	(27,081)	(33,545)	(1,057)
Nonvested shares at the end of period	619,448	458,175	134,128

INCOME TAXES - Components of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current:
Canada	$ 141	$ 391	$ 706
Foreign	165	96	266
Total	306	487	972
Deferred:
Canada	0	(8,941)	(9,399)
Foreign	3,070	(2,181)	(2,314)
Total	3,070	(11,122)	(11,713)
Net income tax expense (benefit)	$ 3,376	$ (10,635)	$ (10,741)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

SHARE-BASED COMPENSATION

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

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 and the Compensation Committee of our Board to approve grants of options, awards of restricted shares, performance shares, phantom shares and dividend equivalents, awards of deferred shares, and share payments to our employees and non-employee directors. No more than 2.4 million Civeo common shares are authorized to be issued under the Civeo Plan.

Share-based compensation expense recognized in the years ended December 31, 2021, 2020 and 2019 totaled $9.9 million, $8.4 million and $13.9 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 $0.5 million, $0.5 million and $0.7 million for the years ended December 31, 2021, 2020 and 2019, respectively.

Options to Purchase Common Shares

No options were awarded in 2021, 2020 or 2019. The following table presents the changes in stock options outstanding and related information for our employees during the years ended December 31, 2021, 2020 and 2019:


	Options	Weighted Average Exercise Price Per Share		Weighted Average Contractual Life (Years)	Intrinsic Value (Thousands)
Outstanding Options at December 31, 2018	12,143	$	215.59	3.3	$	—



Outstanding Options at December 31, 2019	12,143	$	215.59	2.3	$	—


Forfeited / Expired	(1,817)	197.16
Outstanding Options at December 31, 2020	10,326	$	218.83	1.4	$	—


Forfeited / Expired	(8,414)	216.78
Outstanding Options at December 31, 2021	1,912	$	227.85	1.2	$	—

Exercisable Options at December 31, 2019	12,143	$	215.59	2.3	$	—
Exercisable Options at December 31, 2020	10,326	$	218.83	1.4	$	—
Exercisable Options at December 31, 2021	1,912	$	227.85	1.2	$	—

As no options were exercised in the last three years, the total intrinsic value of options exercised by our employees during 2021, 2020 and 2019 was zero. Additionally, the tax benefits realized for the tax deduction from options exercised during 2021, 2020 and 2019 totaled zero.

At December 31, 2021, unrecognized compensation cost related to options was zero.

The following table summarizes information for outstanding options of our employees at December 31, 2021:


	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number Outstanding as of December 31, 2021	Weighted Average Remaining Contractual Life	Weighted Average Exercise Price		Number Exercisable as of December 31, 2021	Weighted Average Exercise Price
$209.76	956	1.1	$	209.76	956	$	209.76
$221.16	382	0.1	$	221.16	382	$	221.16
$262.44	574	2.1	$	262.44	574	$	262.44
$209.76 - 262.44	1,912	1.2	$	227.85	1,912	$	227.85

Restricted Share Awards/ Restricted Share Units/ Deferred Share Awards

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, 2021, 2020 and 2019:


	Number of Awards/Units	Weighted Average Grant Date Fair Value Per Share
Nonvested shares at December 31, 2018	307,121	$	39.73
Granted	143,756	27.50
Vested	(135,943)	39.10
Forfeited	(8,138)	38.79
Nonvested shares at December 31, 2019	306,796	$	34.31
Granted	1,906	4.95
Vested	(186,551)	33.78
Forfeited	(17,060)	35.26
Nonvested shares at December 31, 2020	105,091	$	34.56
Granted	59,027	17.58
Vested	(77,304)	35.76
Forfeited	(1,957)	30.36
Nonvested shares at December 31, 2021	84,857	$	21.76

The weighted average grant date fair value per share for restricted share awards, restricted share units and deferred share awards granted during 2021, 2020 and 2019 was $17.58, $4.95 and $27.50, respectively. The total fair value of restricted share awards, restricted share units and deferred share awards vested during 2021, 2020 and 2019 was $1.5 million, $2.6 million and $4.0 million, respectively. At December 31, 2021, unrecognized compensation cost related to restricted share awards, restricted share units and deferred share awards was $0.5 million, which is expected to be recognized over a weighted average period of 0.3 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, 2021, 2020 and 2019:


			Number of Awards
Nonvested shares at December 31, 2018			188,883
Granted			117,943
Vested			(171,641)
Forfeited			(1,057)
Nonvested shares at December 31, 2019			134,128
Granted			413,569
Vested			(55,977)
Forfeited			(33,545)
Nonvested shares at December 31, 2020			458,175
Granted			351,853
Vested			(163,499)
Forfeited			(27,081)
Nonvested shares at December 31, 2021			619,448

At December 31, 2021, the balance of the liability for the phantom share awards was $4.7 million. For the years ended December 31, 2021, 2020 and 2019, we made phantom share cash payments of $3.1 million, $0.9 million and $5.3 million, respectively. At December 31, 2021, unrecognized compensation cost related to phantom shares was $7.5 million, as remeasured at December 31, 2021, which is expected to be recognized over a weighted average period of 1.8 years. The weighted average grant date fair value per share of phantom shares granted during the years ended December 31, 2021, 2020 and 2019 was $19.80, $15.84 and $30.36, respectively.

Performance Share Awards

We grant performance awards, which cliff vest in three years subject to attainment of applicable performance criteria. Awards granted in 2021 will be earned in amounts between 0% and 200% of the participant’s target performance share award, based on (1) the payout percentage associated with Civeo’s relative TSR rank among a peer group that includes 17 other companies and (2) the payout percentage associated with Civeo's cumulative free cash flow over the performance period relative to a preset target. Performance share awards granted prior to 2021 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 TSR rank among a peer group of other companies. The portion of the performance awards tied to cumulative free cash flow includes a performance-based vesting requirement. The fair value of these awards is based on the closing market price of our common shares on the date of grant. We evaluate the probability of achieving the performance criteria throughout the performance period and will adjust share-based compensation expense based on the number of shares expected to vest based on our estimate of the most probable performance outcome. The ultimate payout of the cumulative free cash flow component of the award can vary from 0% to 60% based on actual results.

The fair value of the TSR portion 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.

No performance share awards were granted in 2020.


	2021		2019
Risk-free weighted interest rate	0.2	%	2.5	%
Expected volatility	83.0	%	68.0	%
Initial TSR	27.1	%	0.70	%

The following table presents the changes in performance share awards outstanding and related information for our employees during the year ended December 31, 2021, 2020 and 2019:


	Number of Awards	Weighted Average Grant Date Fair Value Per Share
Nonvested shares at December 31, 2018	293,695	$	47.86
Granted	98,717	44.76
Performance adjustment (1)	160,156	35.20
Vested	(320,312)	35.20
Forfeited	—	—
Nonvested shares at December 31, 2019	232,256	$	55.27
Granted	—	—
Performance adjustment (2)	47,101	62.40
Vested	(109,904)	62.40
Forfeited	(17,141)	50.56
Nonvested shares at December 31, 2020	152,312	$	52.86
Granted	129,754	26.86
Performance adjustment (3)	28,466	63.60
Vested	(93,922)	63.60
Forfeited	(1,296)	44.76
Nonvested shares at December 31, 2021	215,314	$	33.97

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

(2)Related to 2017 performance share awards that vested in 2020, which were paid out at 175% based on Civeo's TSR rank.

(3)Related to 2018 performance share awards that vested in 2021, which were paid out at 150% based on Civeo's TSR rank.

During the years ended December 31, 2021, 2020 and 2019, we recognized compensation expense associated with performance share awards totaling $2.4 million, $2.7 million and $4.3 million, respectively. At December 31, 2021, unrecognized compensation cost related to performance share awards was $2.9 million, which is expected to be recognized over a weighted average period of 2.0 years.

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Carrying Amount of Goodwill

Changes in the carrying amount of goodwill from December 31, 2019 to December 31, 2021 are as follows (in thousands):


	Canada		Australia		U.S.		Total
Goodwill, net of $19.9 million accumulated impairment loss as of December 31, 2019	$	102,238	$	7,935	$	—	$	110,173
Foreign currency translation	(8,632)		794		—		(7,838)
Goodwill impairment (1)	(93,606)		—		—		(93,606)
Goodwill, net of $113.5 million accumulated impairment loss as of December 31, 2020	$	—	$	8,729	$	—	$	8,729
Foreign currency translation	—		(525)		—		(525)
Goodwill, net of $113.5 million accumulated impairment loss as of December 31, 2021	$	—	$	8,204	$	—	$	8,204

(1)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, 2021 and 2020 (in thousands):


	December 31,				December 31,
	2021				2020
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortizable Intangible Assets
Customer relationships	$	42,752	$	(42,604)	$	44,817	$	(44,521)
Trade name	3,554		(3,554)		3,678		(3,678)
Contracts / agreements	159,051		(65,587)		161,289		(61,867)
Total amortizable intangible assets	$	205,357	$	(111,745)	$	209,784	$	(110,066)

Indefinite-Lived Intangible Assets Not Subject to Amortization
Licenses	30		—		31		—
Total indefinite-lived intangible assets	30		—		31		—
Total intangible assets	$	205,387	$	(111,745)	$	209,815	$	(110,066)

Schedule of Remaining Amortization of Finite-Lived Intangible Assets

As of December 31, 2021, the estimated remaining amortization of our amortizable intangible assets was as follows (in thousands):


	Year Ending December 31,
2022	$	6,103
2023	5,955
2024	5,955
2025	5,872
2026	5,872
Thereafter	63,855
Total	$	93,612

GOODWILL AND OTHER INTANGIBLE ASSETS - Goodwill Rollfoward (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 110,173,000		$ 8,729,000	$ 110,173,000
Foreign currency translation			(525,000)	(7,838,000)
Goodwill impairment	(93,606,000)	$ (19,900,000)		(93,606,000)
Goodwill, ending balance		110,173,000	8,204,000	8,729,000
Goodwill, accumulated impairment loss		19,900,000	113,500,000	113,500,000
Canada
Goodwill [Roll Forward]
Goodwill, beginning balance	102,238,000		0	102,238,000
Foreign currency translation			0	(8,632,000)
Goodwill impairment	(93,606,000)	(19,900,000)		(93,606,000)
Goodwill, ending balance	0	102,238,000	0	0
Australia
Goodwill [Roll Forward]
Goodwill, beginning balance	7,935,000		8,729,000	7,935,000
Foreign currency translation			(525,000)	794,000
Goodwill impairment	0	0		0
Goodwill, ending balance		7,935,000	8,204,000	8,729,000
U.S.
Goodwill [Roll Forward]
Goodwill, beginning balance	0		0	0
Foreign currency translation			0	0
Goodwill impairment	$ 0	0		0
Goodwill, ending balance		$ 0	$ 0	$ 0

ASSET RETIREMENT OBLIGATIONS - Asset Retirement Obligations (ARO) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligations	$ 13,745	$ 14,993	$ 18,796	$ 18,381
Less: Asset retirement obligations due within one year	564	1,322
Long-term asset retirement obligations	$ 13,181	$ 13,671

SHARE-BASED COMPENSATION - Narrative (Details)	12 Months Ended
SHARE-BASED COMPENSATION - Narrative (Details)	Dec. 31, 2021 USD ($) company $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of common shares authorized \| shares	2,400,000
Allocated share-based compensation expense	$ 9,900,000	$ 8,400,000	$ 13,900,000
Income tax benefit for share based compensation arrangements	$ 500,000	$ 500,000	$ 700,000
Options to purchase common shares awarded \| shares	0	0	0
Total intrinsic value of options exercised	$ 0
Tax benefits from options exercised	$ 0	$ 0	$ 0
Peer group, number of companies \| company	17
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of options exercised	$ 0	$ 0	$ 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) \| $ / shares	$ 17.58	$ 4.95	$ 27.50
Fair value of restricted share and deferred share awards vested	$ 1,500,000	$ 2,600,000	$ 4,000,000.0
Unrecognized compensation cost related to restricted share and deferred share awards	$ 500,000
Weighted average recognition period for unrecognized shares	3 months 18 days
Performance shares granted (in shares) \| shares	59,027	1,906	143,756
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) \| $ / shares	$ 19.80	$ 15.84	$ 30.36
Weighted average recognition period for unrecognized shares	1 year 9 months 18 days
Liability for phantom share awards	$ 4,700,000
Phantom share cash payments	3,100,000	$ 900,000	$ 5,300,000
Unrecognized compensation cost	$ 7,500,000
Phantom Share Units (PSUs) \| Civeo Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance shares granted (in shares) \| shares	351,853	413,569	117,943
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 2,400,000	$ 2,700,000	$ 4,300,000
Weighted average recognition period for unrecognized shares	2 years
Unrecognized compensation cost	$ 2,900,000
Performance Shares \| Civeo Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Weighted average grant date fair value per share (in dollars per share) \| $ / shares	$ 26.86	$ 0	$ 44.76
Percentage of participant target performance share award	150.00%	175.00%	200.00%
Performance shares granted (in shares) \| shares	129,754	0	98,717
Performance Shares \| Civeo Plan \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of participant target performance share award	0.00%
Target performance, cash payout percentage	0.00%
Performance Shares \| Civeo Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of participant target performance share award	200.00%
Target performance, cash payout percentage	60.00%

INCOME TAXES

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

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 expense (benefit). Pre-tax income (loss) for the years ended December 31, 2021, 2020 and 2019 consisted of the following (in thousands):


	2021		2020		2019
Canada operations	$	2,498	$	(137,239)	$	(60,372)
Foreign operations	3,375		(6,176)		(8,703)
Total	$	5,873	$	(143,415)	$	(69,075)

The components of the income tax expense (benefit) for the years ended December 31, 2021, 2020 and 2019 consisted of the following (in thousands):


	2021		2020		2019
Current:
Canada	$	141	$	391	$	706
Foreign	165		96		266
Total	$	306	$	487	$	972

Deferred:
Canada	$	—	$	(8,941)	$	(9,399)
Foreign	3,070		(2,181)		(2,314)
Total	$	3,070	$	(11,122)	$	(11,713)

Net income tax expense (benefit)	$	3,376	$	(10,635)	$	(10,741)

The net income tax expense (benefit) differs from an amount computed at Canadian statutory rates as follows for the years ended December 31, 2021, 2020 and 2019 (in thousands):


	2021				2020				2019
Canadian federal tax benefit at statutory rates	$	779	13.3	%	$	(21,512)	15.0	%	$	(10,361)	15.0	%
Canadian provincial income tax	215		3.7	%	(12,718)		8.9	%	(5,158)		7.5	%
Effect of foreign income tax, net	1,189		20.2	%	1,241		(0.9)	%	55		(0.1)	%

Valuation allowance	1,028		17.5	%	(1,355)		0.9	%	2,257		(3.3)	%
Enacted tax rate change - Canada	—		—	%	—		—	%	(2,452)		3.5	%
Non-deductible goodwill impairment	—		—	%	22,984		(16.0)	%	4,689		(6.8)	%
Non-deductible compensation	526		9.0	%	310		(0.2)	%	1,203		(1.7)	%
Unrealized intercompany foreign currency translation gain	(708)		(12.1)	%	991		(0.7)	%	(1,451)		2.1	%
Non-taxable Noralta representations and warranties claim	—		—	%	(1,132)		0.8	%	—		—	%
Other, net	347		5.9	%	556		(0.4)	%	477		(0.7)	%
Net income tax expense (benefit)	$	3,376	57.5	%	$	(10,635)	7.4	%	$	(10,741)	15.5	%

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 during the year ended December 31, 2019. As part of Alberta’s Recovery Plan, the government accelerated the rate reduction to 8% effective July 1, 2020. As the impact of the full rate change was effectuated on our net deferred tax liability in 2020, the acceleration had no impact to our net deferred tax liability as of December 31, 2021.

Deferred Tax Liabilities and Assets. The significant items giving rise to the deferred tax assets and liabilities as of December 31, 2021 and 2020 are as follows (in thousands):


	2021		2020
Deferred tax assets:
Net operating loss	$	93,512	$	102,650
Employee benefits	2,546		2,269
Deductible goodwill and other intangibles	51,977		55,471
Land	3,879		2,637
Other reserves	6,202		6,701
Unearned revenue	201		114
Operating lease liabilities	4,862		6,027
Capital losses	1,363		1,343
Other	1,435		1,559
Deferred tax assets	165,977		178,771
Valuation allowance	(85,351)		(88,251)
Deferred tax assets, net	$	80,626	$	90,520
Deferred tax liabilities:
Intangibles	$	(22,752)	$	(24,359)
Depreciation	(54,254)		(58,329)
Operating lease right-of-use assets	(4,516)		(5,599)
Deferred tax liabilities	(81,522)		(88,287)
Net deferred tax assets (liabilities), net (1)	$	(896)	$	2,233


(1)			Net deferred tax assets are classified as a noncurrent asset on the consolidated balance sheet, under the caption “Other noncurrent assets.”

NOL Carryforwards. The following table summarizes net operating loss (NOL) carryforwards at December 31, 2021 (in thousands):


	Amount		Expiration Period
Net operating loss carryforwards:
Canada – Federal and provincial	$	204,037	Begins to expire in 2035
Australia	83,150		Does not expire
U.S. – Federal	36,030		Begins to expire in 2036
U.S. – Federal	30,637		Does not expire
U.S. – State, tax effected	5,599		Begins to expire in 2022

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, 2021 and 2020 are as follows (in thousands):



Balance as of December 31, 2019	$	(84,503)
Change in income tax provision	1,355
Other change	1,663
Foreign currency translation	(6,766)
Balance as of December 31, 2020	(88,251)
Change in income tax provision	(1,028)
Other change	656
Foreign currency translation	3,272
Balance as of December 31, 2021	$	(85,351)

As of each reporting date, management considers new evidence, both positive and negative, that could affect our view of the future realization of deferred tax assets. As of December 31, 2020, in part because during the year we achieved three years of cumulative pre-tax income in the Australian federal tax jurisdiction, management determined that there is sufficient positive evidence to conclude that it is more likely than not that additional deferred tax assets of $9.1 million are realizable. We therefore reduced the valuation allowance accordingly in this jurisdiction. As of December 31, 2021, management determined that there is not sufficient evidence to conclude that it is more likely than not that the Canadian and U.S. deferred tax assets are realizable, therefore we have maintained the valuation allowance in both of these jurisdictions.

Indefinite Reinvestment of Earnings. At December 31, 2021 and 2020, we had no undistributed earnings of foreign subsidiaries subject to income tax in Canada. We continue to make an assertion to indefinitely reinvest the unrepatriated earnings, if any, of any foreign subsidiary. As of December 31, 2021, we did not provide for deferred taxes on earnings of our foreign subsidiaries that are indefinitely reinvested. If we were to make a distribution from the unremitted earnings of these subsidiaries, we could be subject to taxes in various jurisdictions. However, it is not practical to estimate the amount of tax that could ultimately be due if such earnings were remitted.

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 2014 are subject to audit by the Canada Revenue Agency. Our Australian subsidiary’s federal income tax returns subsequent to 2017 are open for review by the Australian Taxation Office. Our U.S. subsidiary’s federal tax returns subsequent to 2018 are subject to audit by the U.S. Internal Revenue Service.

The total amount of unrecognized tax benefits as of December 31, 2021, 2020 and 2019 was zero. Unrecognized tax benefits, if recognized, would affect the effective tax rate. We accrue interest and penalties, if applicable, related to unrecognized tax benefits as a component of our provision for income taxes. As of December 31, 2021, 2020 and 2019, we had accrued zero of interest expense and penalties.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

DETAILS OF SELECTED BALANCE SHEET ACCOUNTS (Tables)

12 Months Ended

Dec. 31, 2021

Balance Sheet Related Disclosures [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

Additional information regarding selected balance sheet accounts at December 31, 2021 and 2020 is presented below (in thousands):


	December 31, 2021		December 31, 2020
Accounts receivable, net:
Trade	$	75,740	$	66,071
Unbilled revenue	38,508		22,565
Other (1)	972		1,421
Total accounts receivable	115,220		90,057
Allowance for credit losses	(361)		(275)
Total accounts receivable, net	$	114,859	$	89,782

(1)As of December 31, 2021 and 2020, Other accounts receivable included zero and $1.1 million, respectively, related to the Canada Emergency Wage Subsidy (CEWS), a subsidy implemented by the Canadian government in response to the COVID-19 pandemic. Income related to the CEWS for the year ended December 31, 2021 and 2020 was $3.5 million and $13.0 million, respectively, and is included in Other income on the accompanying consolidated statement of operations.

Schedule of Inventory, Current


	December 31, 2021		December 31, 2020
Inventories:
Finished goods and purchased products	$	5,346	$	5,047
Work in process	25		45
Raw materials	1,097		1,089
Total inventories	$	6,468	$	6,181

Property, Plant and Equipment


	Estimated Useful Life (in years)	December 31, 2021		December 31, 2020
Property, plant and equipment, net:
Land		$	30,556	$	47,751
Accommodations assets	3-15	1,657,577		1,737,620
Buildings and leasehold improvements	7-20	24,335		28,831
Machinery and equipment	4-15	14,983		12,784
Office furniture and equipment	3-7	63,228		61,850
Vehicles	3-5	14,578		15,363
Construction in progress		2,063		5,523
Total property, plant and equipment		1,807,320		1,909,722
Accumulated depreciation		(1,417,324)		(1,422,792)
Total property, plant and equipment, net		$	389,996	$	486,930

Schedule of Accrued Liabilities


	December 31, 2021		December 31, 2020
Accrued liabilities:
Accrued compensation	$	28,877	$	22,475
Accrued taxes, other than income taxes	2,944		3,099

Other	1,743		1,775
Total accrued liabilities	$	33,564	$	27,349

REVENUE (Tables)

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table disaggregates our revenue by our three reportable segments: Canada, Australia and the U.S., and major categories for the years ended December 31, 2021, 2020 and 2019 (in thousands):


	2021		2020		2019
Canada
Accommodation revenues	$	239,526	$	202,534	$	281,577
Mobile facility rental revenues	62,856		33,192		9,575
Food service and other services revenues	18,996		33,923		33,485
Manufacturing revenues	—		—		1,014
Total Canada revenues	321,378		269,649		325,651

Australia
Accommodation revenues	$	145,335	$	144,070	$	126,047
Food service and other services revenues	105,739		90,472		30,046
Total Australia revenues	251,074		234,542		156,093

U.S.
Accommodation revenues	$	5,437	$	2,451	$	12,462
Mobile facility rental revenues	14,486		16,837		28,119
Manufacturing revenues	2,038		6,200		5,085
Food service and other services revenues	50		50		145
Total U.S. revenues	22,011		25,538		45,811

Total revenues	$	594,463	$	529,729	$	527,555

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

As of December 31, 2021, 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. The table only includes revenue expected to be recognized from contracts where the quantity of service is certain (in thousands):


	For the years ending December 31,
	2022		2023		2024		Thereafter		Total
Revenue expected to be recognized as of December 31, 2021	$	139,492	$	45,084	$	12,681	$	10,535	$	207,792

SHARE-BASED COMPENSATION - Performance Share Awards Activity (Details) - Performance Shares - Civeo Plan - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Number of Awards (in shares)
Nonvested shares at the beginning of period	152,312	232,256	293,695
Granted	129,754	0	98,717
Performance adjustment	28,466	47,101	160,156
Vested	(93,922)	(109,904)	(320,312)
Forfeited	(1,296)	(17,141)	0
Nonvested shares at the end of period	215,314	152,312	232,256
Weighted Average Grant Date Fair Value Per Share
Nonvested at beginning of period	$ 52.86	$ 55.27	$ 47.86
Granted	26.86	0	44.76
Performance adjustment	63.60	62.40	35.20
Vested	63.60	62.40	35.20
Forfeited	44.76	50.56	0
Nonvested at end of period	$ 33.97	$ 52.86	$ 55.27
Percentage of participant target performance share award	150.00%	175.00%	200.00%

RETIREMENT PLANS (Details) $ in Millions	12 Months Ended
RETIREMENT PLANS (Details) $ in Millions	Dec. 31, 2021 USD ($)	Dec. 31, 2021 CAD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Defined Contribution Plan Disclosure [Line Items]
Recognized defined contribution plan expense	$ 7.6		$ 6.8	$ 5.3
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		$ 14,605
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		$ 27,830
Australian Retirement Savings Plan
Defined Contribution Plan Disclosure [Line Items]
Percentage of contributed employee gross pay matched by employer	10.00%	10.00%
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%

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income (loss)	$ 2,497	$ (132,780)	$ (58,334)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	83,101	96,547	123,768
Impairment charges	7,935	144,120	26,148
Loss on extinguishment of debt	416	383	0
Deferred income tax expense (benefit)	3,070	(11,122)	(11,713)
Non-cash compensation charge	4,127	6,066	10,116
Gain on disposals of assets	(6,188)	(2,905)	(3,882)
Provision (benefit) for credit losses, net of recoveries	141	44	(30)
Other, net	2,200	(2,873)	2,659
Changes in operating assets and liabilities:
Accounts receivable	(28,131)	13,679	(20,547)
Inventories	(526)	171	(87)
Accounts payable and accrued liabilities	15,435	6,890	8,473
Taxes payable	(28)	(134)	(75)
Other current assets and liabilities, net	4,485	(725)	(2,015)
Net cash flows provided by operating activities	88,534	117,361	74,481
Cash flows from investing activities:
Capital expenditures	(15,571)	(10,083)	(29,812)
Payments related to acquisitions, net of cash acquired	0	0	(16,434)
Proceeds from disposition of property, plant and equipment	14,306	3,690	5,906
Other, net	559	4,619	1,762
Net cash flows used in investing activities	(706)	(1,774)	(38,578)
Cash flows from financing activities:
Revolving credit borrowings	397,952	377,604	381,615
Revolving credit repayments	(348,795)	(447,914)	(385,071)
Term loan repayments	(125,483)	(39,855)	(34,942)
Debt issuance costs	(4,412)	(2,583)	(1,950)
Repurchases of common shares	(4,649)	0	0
Other, net	(1,120)	(1,458)	(4,283)
Net cash flows used in financing activities	(86,507)	(114,206)	(44,631)
Effect of exchange rate changes on cash	(1,194)	1,443	(313)
Net change in cash and cash equivalents	127	2,824	(9,041)
Cash and cash equivalents, beginning of period	6,155	3,331	12,372
Cash and cash equivalents, end of period	6,282	6,155	3,331
Non-cash investing and financing activities
Capital expenditure additions accrued at end of period	575	933	0
Preferred dividends paid-in-kind	$ 1,925	$ 1,887	$ 1,849

INCOME TAXES - Changes in Valuation Allowance (Details) - Federal and State NOLs - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Deferred Tax Assets, Changes in Valuation Allowance
Beginning balance	$ (88,251)	$ (84,503)
Change in income tax provision	(1,028)	1,355
Other change	656	1,663
Foreign currency translation	3,272	(6,766)
Ending balance	$ (85,351)	$ (88,251)

SHARE-BASED COMPENSATION - Restricted Stock Awards and Deferred Stock Awards (Details) - Restricted Stock and Deferred Stock Awards - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Number of Awards (in shares)
Nonvested shares at the beginning of period	105,091	306,796	307,121
Granted	59,027	1,906	143,756
Vested	(77,304)	(186,551)	(135,943)
Forfeited	(1,957)	(17,060)	(8,138)
Nonvested shares at the end of period	84,857	105,091	306,796
Weighted Average Grant Date Fair Value Per Share
Nonvested at beginning of period	$ 34.56	$ 34.31	$ 39.73
Granted	17.58	4.95	27.50
Vested	35.76	33.78	39.10
Forfeited	30.36	35.26	38.79
Nonvested at end of period	$ 21.76	$ 34.56	$ 34.31

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)

12 Months Ended

Dec. 31, 2021

Supplemental Cash Flow Information [Abstract]

Schedule of Cash Flow, Supplemental Disclosures

Cash paid during the years ended December 31, 2021, 2020 and 2019 for interest and income taxes was as follows (in thousands):


	2021		2020		2019
Interest (net of amounts capitalized)	$	9,991	$	12,597	$	23,882
Net income taxes paid, net of refunds received	334		600		1,045

INCOME TAXES - NOL and Tax Credit Carryforwards (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Foreign Tax Authority \| Canada Revenue Agency
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 204,037
Foreign Tax Authority \| Australian Taxation Office
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	83,150
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	30,637
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 5,599

Consolidated Statements of Comprehensive Loss (Parentheticals) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment, tax	$ 0	$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2021
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.
Allowance for Credit Losses	Allowance for Credit Losses We are exposed to credit losses primarily through the sale of our products and services. We maintain allowances for credit losses 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 credit losses account. Our expected loss allowance methodology for accounts receivable is developed using historical collection experience, current and future economic and market conditions and a review of the current status of customers' trade receivables. Due to the short-term nature of such receivables, the estimate of the amount of accounts receivable that may not be collected is based on an aging of the accounts receivable balances and the financial condition of customers. Additionally, specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. 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 net realizable value. 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 first quarter of 2020, we extended the remaining useful life of certain long-lived accommodations assets in our U.S. 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. 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.
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 in step one 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 second 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 third 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. All of our goodwill as of December 31, 2021 was included in our Australia reporting unit. 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 connection with the preparation of our financial statements for the three months ended March 31, 2020, we performed a quantitative goodwill impairment test as of March 31, 2020, which resulted in a reduction of the value of our goodwill in our Canadian reporting unit to zero. See Note 4 – Impairment Charges for further discussion of goodwill impairments recorded in the years ended December 31, 2020 and 2019. 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 quantitative 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 quantitative goodwill impairment test. When performing our annual assessment on November 30, 2021 and 2020, we performed a qualitative assessment related to goodwill at our Australia reporting unit. Qualitative factors that we considered as part of our assessment included industry and market conditions, macroeconomic conditions and the financial performance of our Australian business. We also noted that, based on the interim quantitative testing performed as of March 31, 2020, the estimated fair value of the Australia reporting unit exceeded its carrying value by more than 125%. After assessing these events and circumstances, we determined that, as of November 30, 2021, it was more likely than not that the fair value of the Australia reporting unit was greater than its carrying value. In performing the quantitative 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.
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. See Note 14 – 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, 2021, each of Suncor Energy, Imperial Oil and Fortescue Metals Group Ltd accounted for more than 10% of our revenues. For the year ended December 31, 2020, each of Fortescue Metals Group Ltd and Imperial Oil accounted for more than 10% of our revenues. For the year ended December 31, 2019, 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 initially record the liability at fair value, 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. See Note 12 – 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 performance share awards. For awards granted in 2021, awards are earned in amounts between 0% and 200% of the participant’s target performance share award, based on (1) the payout percentage associated with Civeo’s relative total shareholder return (TSR) rank among a peer group of other companies and (2) the payout percentage associated with Civeo's cumulative free cash flow over the performance period relative to a preset target. Performance share awards granted prior to 2021 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 TSR rank among a peer group of other companies. The fair value of the TSR portion of each performance share is estimated using option-pricing models at the grant date. The fair value of the free cash flow portion of each performance share is based on the closing market price of our common shares on the date of grant and adjusted throughout the performance period based on our estimate of the most probable outcome. The resulting costs for each portion of the award is recognized over the period during which an employee is required to provide service in exchange for the awards, usually the vesting period. Additionally, we 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.
Guarantees	Guarantees Substantially all of our Canadian and U.S. subsidiaries are guarantors under our Credit Agreement. See Note 11 – 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, 2021, the maximum potential amount of future payments that we could be required to make under these guarantee agreements (letters of credit) was approximately $2.0 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. generally accepted accounting principles 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 credit losses. 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. We make an assessment of our exposure and record a provision in our accounts to cover an expected loss when we believe a loss is probable and the amount of the loss can be reasonably estimated. These liabilities and claims sometimes involve threatened or actual litigation where damages have been quantified. 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 December 2019, the FASB issued Accounting Standards Update (ASU) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The amendments in ASU 2019-12 remove certain exceptions to the general principles in Accounting Standards Codification (ASC) Topic 740. The amendments also clarify and amend existing guidance to improve consistent application. The amendments are effective for financial statements issued for reporting periods beginning after December 15, 2020 and interim periods within the reporting periods. The transition method (retrospective, modified retrospective or prospective basis) related to the amendments depends on the applicable guidance, and all amendments for which there is no transition guidance specified are to be applied on a prospective basis. We adopted ASU 2019-12 on January 1, 2021 and have applied the prospective basis. The adoption of this new standard did not have an impact on our consolidated financial statements.

IMPAIRMENT CHARGES - Narrative (Details) - USD ($)	3 Months Ended				12 Months Ended
IMPAIRMENT CHARGES - Narrative (Details) - USD ($)	Jun. 30, 2021	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Impaired Long-Lived Assets Held and Used [Line Items]
Long-lived assets	$ 7,935,000	$ 50,514,000	$ 702,000	$ 5,546,000
Goodwill			110,173,000		$ 8,204,000	$ 8,729,000	$ 110,173,000
Property, plant and equipment, net					389,996,000	486,930,000
Goodwill		93,606,000	19,900,000			93,606,000
Asset retirement obligation, accretion expense					1,429,000	1,526,000	1,538,000
Asset retirement obligation, current					0	0	497,000
Canada
Impaired Long-Lived Assets Held and Used [Line Items]
Long-lived assets	0	38,075,000	702,000	0
Goodwill		0	102,238,000		0	0	102,238,000
Property, plant and equipment, net		43,500,000
Goodwill		93,606,000	19,900,000			93,606,000
Canada \| Canada
Impaired Long-Lived Assets Held and Used [Line Items]
Long-lived assets		93,600,000
U.S.
Impaired Long-Lived Assets Held and Used [Line Items]
Long-lived assets	0	12,439,000	0	0
Goodwill			0		0	0	0
Property, plant and equipment, net		12,500,000
Goodwill		0	0			0
Australia
Impaired Long-Lived Assets Held and Used [Line Items]
Long-lived assets	7,935,000	0	0	5,546,000
Goodwill			7,935,000		$ 8,204,000	8,729,000	$ 7,935,000
Property, plant and equipment, net	$ 2,400,000
Goodwill		$ 0	$ 0			$ 0
Canadian Lodge In Southern Alberta \| Canada
Impaired Long-Lived Assets Held and Used [Line Items]
Long-lived assets				4,500,000
Property, plant and equipment, net				500,000
Restatement Adjustment \| Previously Unrecorded Liability For Asset Retirement Obligation \| Australia Village \| Australia
Impaired Long-Lived Assets Held and Used [Line Items]
Asset retirement obligation, accretion expense				900,000
Depreciation and amortization				500,000
Impairment expense				1,000,000
Asset retirement obligation, current				$ 2,300,000

SHARE REPURCHASE PROGRAM	12 Months Ended
SHARE REPURCHASE PROGRAM	Dec. 31, 2021
Equity [Abstract]
SHARE REPURCHASE PROGRAM	SHARE REPURCHASE PROGRAM In August 2021, our Board of Directors (Board) authorized a common share repurchase program to repurchase up to 5.0% of our total common shares which are issued and outstanding, or approximately 715,000 common shares, over a twelve month period. The common share repurchase program commenced in September 2021 and will terminate no later than twelve months from date of commencement. The repurchase authorization allows repurchases from time to time in open market transactions, including pursuant to trading plans adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. We intend to fund repurchases through cash on hand and cash generated from operations. Pursuant to our common share repurchase program, during the six months ended December 31, 2021, we repurchased an aggregate of 217,179 of our common shares outstanding at a weighted average price of $21.38 per share, for a total of approximately $4.6 million. The common shares repurchased under the program are cancelled in the periods they are acquired and the payment is accounted for as an increase to Accumulated deficit in our consolidated statements of changes in shareholders’ equity in the period the payment is made.

RETIREMENT PLANS	12 Months Ended
RETIREMENT PLANS	Dec. 31, 2021
Retirement Benefits [Abstract]
RETIREMENT PLANS	RETIREMENT PLANS We sponsor various defined contribution plans. Participation in these plans is available to substantially all employees. 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. We recognized expense of $7.6 million, $6.8 million and $5.3 million related to matching contributions under our various defined contribution plans during the years ended December 31, 2021, 2020 and 2019, respectively. 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 2021 was C$14,605. 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$27,830 in 2021 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 10.0% 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.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Net operating loss	$ 93,512	$ 102,650
Employee benefits	2,546	2,269
Deductible goodwill and other intangibles	51,977	55,471
Land	3,879	2,637
Other reserves	6,202	6,701
Unearned revenue	201	114
Operating lease liabilities	4,862	6,027
Capital losses	1,363	1,343
Other	1,435	1,559
Deferred tax assets	165,977	178,771
Valuation allowance	(85,351)	(88,251)
Deferred tax assets, net	80,626	90,520
Deferred tax liabilities:
Intangibles	(22,752)	(24,359)
Depreciation	(54,254)	(58,329)
Operating lease right-of-use assets	(4,516)	(5,599)
Deferred tax liabilities	(81,522)	(88,287)
Net deferred tax liabilities, net	$ (896)
Net deferred tax assets, net		$ 2,233

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Income tax expense (benefit). Pre-tax income (loss) for the years ended December 31, 2021, 2020 and 2019 consisted of the following (in thousands):


	2021		2020		2019
Canada operations	$	2,498	$	(137,239)	$	(60,372)
Foreign operations	3,375		(6,176)		(8,703)
Total	$	5,873	$	(143,415)	$	(69,075)

Schedule of Components of Income Tax Expense (Benefit)

The components of the income tax expense (benefit) for the years ended December 31, 2021, 2020 and 2019 consisted of the following (in thousands):


	2021		2020		2019
Current:
Canada	$	141	$	391	$	706
Foreign	165		96		266
Total	$	306	$	487	$	972

Deferred:
Canada	$	—	$	(8,941)	$	(9,399)
Foreign	3,070		(2,181)		(2,314)
Total	$	3,070	$	(11,122)	$	(11,713)

Net income tax expense (benefit)	$	3,376	$	(10,635)	$	(10,741)

Schedule of Effective Income Tax Rate Reconciliation

The net income tax expense (benefit) differs from an amount computed at Canadian statutory rates as follows for the years ended December 31, 2021, 2020 and 2019 (in thousands):


	2021				2020				2019
Canadian federal tax benefit at statutory rates	$	779	13.3	%	$	(21,512)	15.0	%	$	(10,361)	15.0	%
Canadian provincial income tax	215		3.7	%	(12,718)		8.9	%	(5,158)		7.5	%
Effect of foreign income tax, net	1,189		20.2	%	1,241		(0.9)	%	55		(0.1)	%

Valuation allowance	1,028		17.5	%	(1,355)		0.9	%	2,257		(3.3)	%
Enacted tax rate change - Canada	—		—	%	—		—	%	(2,452)		3.5	%
Non-deductible goodwill impairment	—		—	%	22,984		(16.0)	%	4,689		(6.8)	%
Non-deductible compensation	526		9.0	%	310		(0.2)	%	1,203		(1.7)	%
Unrealized intercompany foreign currency translation gain	(708)		(12.1)	%	991		(0.7)	%	(1,451)		2.1	%
Non-taxable Noralta representations and warranties claim	—		—	%	(1,132)		0.8	%	—		—	%
Other, net	347		5.9	%	556		(0.4)	%	477		(0.7)	%
Net income tax expense (benefit)	$	3,376	57.5	%	$	(10,635)	7.4	%	$	(10,741)	15.5	%

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, 2021 and 2020 are as follows (in thousands):


	2021		2020
Deferred tax assets:
Net operating loss	$	93,512	$	102,650
Employee benefits	2,546		2,269
Deductible goodwill and other intangibles	51,977		55,471
Land	3,879		2,637
Other reserves	6,202		6,701
Unearned revenue	201		114
Operating lease liabilities	4,862		6,027
Capital losses	1,363		1,343
Other	1,435		1,559
Deferred tax assets	165,977		178,771
Valuation allowance	(85,351)		(88,251)
Deferred tax assets, net	$	80,626	$	90,520
Deferred tax liabilities:
Intangibles	$	(22,752)	$	(24,359)
Depreciation	(54,254)		(58,329)
Operating lease right-of-use assets	(4,516)		(5,599)
Deferred tax liabilities	(81,522)		(88,287)
Net deferred tax assets (liabilities), net (1)	$	(896)	$	2,233


(1)			Net deferred tax assets are classified as a noncurrent asset on the consolidated balance sheet, under the caption “Other noncurrent assets.”

Summary Of Operating Loss and Tax Credit Carry forwards

NOL Carryforwards. The following table summarizes net operating loss (NOL) carryforwards at December 31, 2021 (in thousands):


	Amount		Expiration Period
Net operating loss carryforwards:
Canada – Federal and provincial	$	204,037	Begins to expire in 2035
Australia	83,150		Does not expire
U.S. – Federal	36,030		Begins to expire in 2036
U.S. – Federal	30,637		Does not expire
U.S. – State, tax effected	5,599		Begins to expire in 2022

Summary of Valuation Allowance

Changes in our valuation allowance for the years ended December 31, 2021 and 2020 are as follows (in thousands):



Balance as of December 31, 2019	$	(84,503)
Change in income tax provision	1,355
Other change	1,663
Foreign currency translation	(6,766)
Balance as of December 31, 2020	(88,251)
Change in income tax provision	(1,028)
Other change	656
Foreign currency translation	3,272
Balance as of December 31, 2021	$	(85,351)

EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2021

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):


	2021		2020		2019
Numerator:
Net loss attributable to Civeo common shareholders	$	(575)	$	(136,137)	$	(60,340)
Less: income allocated to participating securities	—		—		—
Basic net loss attributable to Civeo Corporation common shareholders	$	(575)	$	(136,137)	$	(60,340)
Add: undistributed income attributable to participating securities	—		—		—
Less: undistributed income reallocated to participating securities	—		—		—
Diluted net loss attributable to Civeo Corporation common shareholders	$	(575)	$	(136,137)	$	(60,340)

Denominator:
Weighted average shares outstanding - basic	14,232		14,129		13,921
Dilutive shares - share based awards	—		—		—
Weighted average shares outstanding - diluted	14,232		14,129		13,921

Basic net loss per share attributable to Civeo Corporation common shareholders (1)	$	(0.04)	$	(9.64)	$	(4.33)

Diluted net loss per share attributable to Civeo Corporation common shareholders (1)	$	(0.04)	$	(9.64)	$	(4.33)

(1)Computations may reflect rounding adjustments.

PREFERRED SHARES - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Apr. 02, 2018	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Preferred stock, shares outstanding (in shares)		9,042	9,042
Right to convert to common shares (in years)		2 years
Mandatory conversion of common shares (in years)		5 years
In-kind dividends		$ 1,925	$ 1,887	$ 1,849
Series A Preferred Stock
Class of Stock [Line Items]
Annual percentage dividend on liquidation preference	2.00%
Preferred Shares
Class of Stock [Line Items]
Preferred stock, shares outstanding (in shares)		9,042
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 dollars 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 dollars per share)		$ 39.60

GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

Changes in the carrying amount of goodwill from December 31, 2019 to December 31, 2021 are as follows (in thousands):


	Canada		Australia		U.S.		Total
Goodwill, net of $19.9 million accumulated impairment loss as of December 31, 2019	$	102,238	$	7,935	$	—	$	110,173
Foreign currency translation	(8,632)		794		—		(7,838)
Goodwill impairment (1)	(93,606)		—		—		(93,606)
Goodwill, net of $113.5 million accumulated impairment loss as of December 31, 2020	$	—	$	8,729	$	—	$	8,729
Foreign currency translation	—		(525)		—		(525)
Goodwill, net of $113.5 million accumulated impairment loss as of December 31, 2021	$	—	$	8,204	$	—	$	8,204

(1)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, 2021 and 2020 (in thousands):


	December 31,				December 31,
	2021				2020
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortizable Intangible Assets
Customer relationships	$	42,752	$	(42,604)	$	44,817	$	(44,521)
Trade name	3,554		(3,554)		3,678		(3,678)
Contracts / agreements	159,051		(65,587)		161,289		(61,867)
Total amortizable intangible assets	$	205,357	$	(111,745)	$	209,784	$	(110,066)

Indefinite-Lived Intangible Assets Not Subject to Amortization
Licenses	30		—		31		—
Total indefinite-lived intangible assets	30		—		31		—
Total intangible assets	$	205,387	$	(111,745)	$	209,815	$	(110,066)

The weighted average remaining amortization period for all intangible assets, other than indefinite-lived intangibles, was 16.0 years as of December 31, 2021 and 16.9 years as of December 31, 2020. Amortization expense was $6.0 million, $14.1 million and $14.8 million in the years ended December 31, 2021, 2020 and 2019, respectively.

As of December 31, 2021, the estimated remaining amortization of our amortizable intangible assets was as follows (in thousands):


	Year Ending December 31,
2022	$	6,103
2023	5,955
2024	5,955
2025	5,872
2026	5,872
Thereafter	63,855
Total	$	93,612

DETAILS OF SELECTED BALANCE SHEET ACCOUNTS - Accounts Receivable (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounts receivable, net:
Total accounts receivable	$ 115,220,000	$ 90,057,000
Allowance for credit losses	(361,000)	(275,000)
Total accounts receivable, net	114,859,000	89,782,000
Other income	13,199,000	20,823,000	$ 7,281,000
Canada Emergency Wage Subsidy \| Other Nonoperating Income (Expense)
Accounts receivable, net:
Other income	3,500,000	13,000,000
Trade
Accounts receivable, net:
Total accounts receivable	75,740,000	66,071,000
Unbilled revenue
Accounts receivable, net:
Total accounts receivable	38,508,000	22,565,000
Other
Accounts receivable, net:
Total accounts receivable	972,000	1,421,000
Other \| Canada Emergency Wage Subsidy
Accounts receivable, net:
Total accounts receivable	$ 0	$ 1,100,000

Consolidated Statements of Changes in Shareholders' Equity (Parentheticals)	Nov. 19, 2020
Statement of Stockholders' Equity [Abstract]
Reverse stock split, conversion ratio	0.0833

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIESWe 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.

REVENUE - Remaining Expected Performance Obligation (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized	$ 207,792
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized, period	1 year
Revenue expected to be recognized	$ 139,492
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized, period	2 years
Revenue expected to be recognized	$ 45,084
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized, period	3 years
Revenue expected to be recognized	$ 12,681
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized, period
Revenue expected to be recognized	$ 10,535

ACQUISITIONS	12 Months Ended
ACQUISITIONS	Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	ACQUISITIONS Action On July 1, 2019, we acquired Action, a provider of integrated 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. Action's operations are reported as part of our Australia reporting business segment beginning on July 1, 2019, the date of acquisition. Noralta 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) 2.7 million of our common shares, of which 1.1 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 2.4 million of our common shares. We funded the cash consideration with cash on hand and borrowings under our revolving credit facility. During the second quarter of 2020, $5.0 million in cash was released to us from escrow to cover certain agreed upon indemnification claims. As a result of this settlement, we recorded $4.7 million in Other income on the accompanying consolidated statement of operations for the year ended December 31, 2020. During the first quarter of 2019, $2.1 million in cash was released to us from escrow to cover certain agreed upon indemnification claims.

ACQUISITIONS - Narrative (Details) $ in Thousands, $ in Millions				3 Months Ended		12 Months Ended
	Jul. 01, 2019 USD ($)	Apr. 02, 2018 USD ($) shares	Apr. 02, 2018 CAD ($) shares	Jun. 30, 2020 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Business Acquisition [Line Items]
Other income						$ 13,199	$ 20,823	$ 7,281
Action \| Australia
Business Acquisition [Line Items]
Payments to acquire businesses	$ 16,900
Noralta
Business Acquisition [Line Items]
Payments to acquire businesses		$ 161,200	$ 207.7
Cash from escrow to cover certain agreed upon indemnification claims				$ 5,000
Other income				$ 4,700
Escrow deposit disbursements					$ 2,100
Noralta \| Common Shares
Business Acquisition [Line Items]
Common shares issued (in shares) \| shares		2,700,000	2,700,000
Number of shares held in escrow (in shares) \| shares		1,100,000	1,100,000
Noralta \| Preferred Shares \| Series A Preferred Stock
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		2,400,000

VALUATION ACCOUNTS (Tables)

12 Months Ended

Dec. 31, 2021

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, 2021:
Allowance for credit losses on accounts receivable	$	275	$	131	$	(30)	$	(15)	$	361
Valuation allowance for deferred tax assets	88,251		1,028		(656)		(3,272)		85,351

Year Ended December 31, 2020:
Allowance for credit losses on accounts receivable	$	253	$	46	$	(44)	$	20	$	275
Valuation allowance for deferred tax assets	84,503		(1,355)		(1,663)		6,766		88,251

Year Ended December 31, 2019:
Allowance for credit losses on accounts receivable	$	376	$	(5)	$	(122)	$	4	$	253
Valuation allowance for deferred tax assets	82,833		2,257		(499)		(88)		84,503

SHARE REPURCHASE PROGRAM (Details) - USD ($)	1 Months Ended	6 Months Ended	12 Months Ended
SHARE REPURCHASE PROGRAM (Details) - USD ($)	Aug. 31, 2021	Dec. 31, 2021	Dec. 31, 2021
Equity [Abstract]
Stock repurchase program, authorized amount, percentage	5.00%
Stock repurchase program, authorized amount (in shares)	$ 715,000
Stock repurchase program, purchase period	12 months
Treasury stock, shares, acquired and cancelled (in shares)		217,179
Treasury stock acquired, average cost (in dollars per share)		$ 21.38
Common shares repurchased		$ 4,600,000	$ 4,649,000

IMPAIRMENT CHARGES

12 Months Ended

Dec. 31, 2021

Asset Impairment Charges [Abstract]

IMPAIRMENT CHARGES

2021 Impairment Charges

The following summarizes pre-tax impairment charges recorded during 2021, which are included in Impairment expense in our consolidated statements of operations (in thousands):


	Canada		Australia		U.S.		Total
Quarter ended June 30, 2021
Long-lived assets	$	—	$	7,935	$	—	$	7,935
Total	$	—	$	7,935	$	—	$	7,935

Quarter ended June 30, 2021. During the second quarter of 2021, we recorded impairment expense of $7.9 million related to various undeveloped land positions and related permitting costs in Australia. At June 30, 2021, we identified an impairment trigger related to certain of these properties due to the cancellation of a significant thermal coal project in Australia and our negative expectations related to other possible Australian thermal coal projects becoming viable in the near term. Accordingly, the assets were written down to their estimated fair value of $2.4 million. As of June 30, 2021, we concluded certain of the undeveloped land positions met the criteria to be classified as held for sale.

2020 Impairment Charges

The following summarizes pre-tax impairment charges recorded during 2020, which are included in Impairment expense in our consolidated statements of operations (in thousands):


	Canada		Australia		U.S.		Total
Quarter ended March 31, 2020
Goodwill	$	93,606	$	—	$	—	$	93,606
Long-lived assets	38,075		—		12,439		50,514
Total	$	131,681	$	—	$	12,439	$	144,120

Quarter ended March 31, 2020. During the first quarter of 2020, we recorded impairment expense related to goodwill and long-lived assets.

The spread of the COVID-19 coronavirus (COVID-19) and the response thereto during the first quarter of 2020 negatively impacted the global economy. The resulting unprecedented decline in oil demand, coupled with disagreements between Saudi Arabia and Russia about production limits, resulted in a collapse of global oil prices in March 2020, thereby creating unprecedented downward pressure on stock prices in the energy industry, particularly small-cap companies with operations in the U.S. and Canada, such as Civeo. As a result, we experienced a sustained reduction of our share price during the first quarter of 2020. Our market capitalization implied an enterprise value which was significantly less than the sum of the estimated fair values of our reporting units, and we determined that an indicator of a goodwill impairment was present as of March 31, 2020. Accordingly, we performed an interim goodwill impairment test as of March 31, 2020, and the carrying amount of our Canadian reporting unit exceeded the reporting unit's fair value. Based on the results of the impairment test, we reduced the value of our goodwill in our Canadian reporting unit to zero and recognized impairment expense in the first quarter of 2020 of $93.6 million.

Furthermore, as a result of the decline in global oil prices and forecasts for a potentially protracted period of lower prices, as well as the goodwill impairment in our Canadian segment, we determined all asset groups within this segment had experienced a trigger that indicated that the carrying values might not be recoverable. Accordingly, we assessed the carrying value of each asset group to determine if it continued to be recoverable based on estimated future cash flows. Based on the assessment, the carrying values of certain asset groups were determined to not be fully recoverable, and we proceeded to compare the estimated fair value of these asset groups to their respective carrying values. As a result, certain asset groups were written down to their estimated fair values of $43.5 million and we recorded impairment expense of $38.1 million related to these long-lived assets.

Also, as a result of the decline in global oil prices and forecasts for a potentially protracted period of lower prices, we reviewed all asset groups in our U.S. segment to determine if an indicator of impairment had occurred that would indicate that

the carrying values of the asset groups in the segment might not be recoverable. We determined that certain asset groups within the segment had experienced an indicator of impairment, and thus we assessed the carrying values of our long-lived assets in the U.S. to determine if they continued to be recoverable based on estimated future cash flows. Based on the assessment, the carrying values of certain of our U.S. asset groups were determined to not be recoverable, and we proceeded to compare the estimated fair values of the asset groups to their respective carrying values. Accordingly, these assets were written down to their estimated fair values of $12.5 million and we recorded impairment expense of $12.4 million during the first quarter of 2020 related to these long-lived assets.

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 Canadian 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 closed 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 the 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.

DETAILS OF SELECTED BALANCE SHEET ACCOUNTS

12 Months Ended

Dec. 31, 2021

Balance Sheet Related Disclosures [Abstract]

DETAILS OF SELECTED BALANCE SHEET ACCOUNTS

Additional information regarding selected balance sheet accounts at December 31, 2021 and 2020 is presented below (in thousands):


	December 31, 2021		December 31, 2020
Accounts receivable, net:
Trade	$	75,740	$	66,071
Unbilled revenue	38,508		22,565
Other (1)	972		1,421
Total accounts receivable	115,220		90,057
Allowance for credit losses	(361)		(275)
Total accounts receivable, net	$	114,859	$	89,782


	December 31, 2021		December 31, 2020
Inventories:
Finished goods and purchased products	$	5,346	$	5,047
Work in process	25		45
Raw materials	1,097		1,089
Total inventories	$	6,468	$	6,181


	Estimated Useful Life (in years)	December 31, 2021		December 31, 2020
Property, plant and equipment, net:
Land		$	30,556	$	47,751
Accommodations assets	3-15	1,657,577		1,737,620
Buildings and leasehold improvements	7-20	24,335		28,831
Machinery and equipment	4-15	14,983		12,784
Office furniture and equipment	3-7	63,228		61,850
Vehicles	3-5	14,578		15,363
Construction in progress		2,063		5,523
Total property, plant and equipment		1,807,320		1,909,722
Accumulated depreciation		(1,417,324)		(1,422,792)
Total property, plant and equipment, net		$	389,996	$	486,930


	December 31, 2021		December 31, 2020
Accrued liabilities:
Accrued compensation	$	28,877	$	22,475
Accrued taxes, other than income taxes	2,944		3,099

Other	1,743		1,775
Total accrued liabilities	$	33,564	$	27,349

ACCUMULATED OTHER COMPREHENSIVE LOSS	12 Months Ended
ACCUMULATED OTHER COMPREHENSIVE LOSS	Dec. 31, 2021
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSSOur accumulated other comprehensive loss increased $12.9 million from $349.0 million at December 31, 2020 to $361.9 million at December 31, 2021, as a result of foreign currency exchange rate fluctuations. Changes in other comprehensive loss during 2021 were primarily driven by the Australian dollar decreasing in value compared to the U.S. dollar, partially offset 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$189 million and A$268 million, respectively, at December 31, 2021.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2021
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. Allowance for Credit Losses We are exposed to credit losses primarily through the sale of our products and services. We maintain allowances for credit losses 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 credit losses account. Our expected loss allowance methodology for accounts receivable is developed using historical collection experience, current and future economic and market conditions and a review of the current status of customers' trade receivables. Due to the short-term nature of such receivables, the estimate of the amount of accounts receivable that may not be collected is based on an aging of the accounts receivable balances and the financial condition of customers. Additionally, specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. 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 net realizable value. 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 first quarter of 2020, we extended the remaining useful life of certain long-lived accommodations assets in our U.S. 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. 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. 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 in step one 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 second 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 third 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. See Note 4 – Impairment Charges for a discussion of impairment charges we recognized in 2021, 2020 and 2019 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. All of our goodwill as of December 31, 2021 was included in our Australia reporting unit. 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 connection with the preparation of our financial statements for the three months ended March 31, 2020, we performed a quantitative goodwill impairment test as of March 31, 2020, which resulted in a reduction of the value of our goodwill in our Canadian reporting unit to zero. See Note 4 – Impairment Charges for further discussion of goodwill impairments recorded in the years ended December 31, 2020 and 2019. 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 quantitative 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 quantitative goodwill impairment test. When performing our annual assessment on November 30, 2021 and 2020, we performed a qualitative assessment related to goodwill at our Australia reporting unit. Qualitative factors that we considered as part of our assessment included industry and market conditions, macroeconomic conditions and the financial performance of our Australian business. We also noted that, based on the interim quantitative testing performed as of March 31, 2020, the estimated fair value of the Australia reporting unit exceeded its carrying value by more than 125%. After assessing these events and circumstances, we determined that, as of November 30, 2021, it was more likely than not that the fair value of the Australia reporting unit was greater than its carrying value. In performing the quantitative 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. 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. See Note 9 – Goodwill and Other Intangible Assets for further information. 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, 2021, 2020, and 2019, we recognized approximately $0.3 million, $0.5 million and $0.3 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. See Note 14 – 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, 2021, each of Suncor Energy, Imperial Oil and Fortescue Metals Group Ltd accounted for more than 10% of our revenues. For the year ended December 31, 2020, each of Fortescue Metals Group Ltd and Imperial Oil accounted for more than 10% of our revenues. For the year ended December 31, 2019, 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 initially record the liability at fair value, 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. See Note 12 – 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 performance share awards. For awards granted in 2021, awards are earned in amounts between 0% and 200% of the participant’s target performance share award, based on (1) the payout percentage associated with Civeo’s relative total shareholder return (TSR) rank among a peer group of other companies and (2) the payout percentage associated with Civeo's cumulative free cash flow over the performance period relative to a preset target. Performance share awards granted prior to 2021 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 TSR rank among a peer group of other companies. The fair value of the TSR portion of each performance share is estimated using option-pricing models at the grant date. The fair value of the free cash flow portion of each performance share is based on the closing market price of our common shares on the date of grant and adjusted throughout the performance period based on our estimate of the most probable outcome. The resulting costs for each portion of the award is recognized over the period during which an employee is required to provide service in exchange for the awards, usually the vesting period. Additionally, we 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. Guarantees Substantially all of our Canadian and U.S. subsidiaries are guarantors under our Credit Agreement. See Note 11 – 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, 2021, the maximum potential amount of future payments that we could be required to make under these guarantee agreements (letters of credit) was approximately $2.0 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. generally accepted accounting principles 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 credit losses. 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. We make an assessment of our exposure and record a provision in our accounts to cover an expected loss when we believe a loss is probable and the amount of the loss can be reasonably estimated. These liabilities and claims sometimes involve threatened or actual litigation where damages have been quantified. 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 December 2019, the FASB issued Accounting Standards Update (ASU) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The amendments in ASU 2019-12 remove certain exceptions to the general principles in Accounting Standards Codification (ASC) Topic 740. The amendments also clarify and amend existing guidance to improve consistent application. The amendments are effective for financial statements issued for reporting periods beginning after December 15, 2020 and interim periods within the reporting periods. The transition method (retrospective, modified retrospective or prospective basis) related to the amendments depends on the applicable guidance, and all amendments for which there is no transition guidance specified are to be applied on a prospective basis. We adopted ASU 2019-12 on January 1, 2021 and have applied the prospective basis. The adoption of this new standard did not have an impact on our consolidated financial statements.

REVENUE

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

REVENUE


	2021		2020		2019
Canada
Accommodation revenues	$	239,526	$	202,534	$	281,577
Mobile facility rental revenues	62,856		33,192		9,575
Food service and other services revenues	18,996		33,923		33,485
Manufacturing revenues	—		—		1,014
Total Canada revenues	321,378		269,649		325,651

Australia
Accommodation revenues	$	145,335	$	144,070	$	126,047
Food service and other services revenues	105,739		90,472		30,046
Total Australia revenues	251,074		234,542		156,093

U.S.
Accommodation revenues	$	5,437	$	2,451	$	12,462
Mobile facility rental revenues	14,486		16,837		28,119
Manufacturing revenues	2,038		6,200		5,085
Food service and other services revenues	50		50		145
Total U.S. revenues	22,011		25,538		45,811

Total revenues	$	594,463	$	529,729	$	527,555

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 and in most cases do not extend beyond 60 days. We do not have significant financing components or significant payment terms.


	For the years ending December 31,
	2022		2023		2024		Thereafter		Total
Revenue expected to be recognized as of December 31, 2021	$	139,492	$	45,084	$	12,681	$	10,535	$	207,792

We applied the practical expedient and do not disclose consideration for remaining performance obligations with an original expected duration of one year or less. In addition, we do not estimate revenues expected to be recognized related to unsatisfied performance obligations for contracts without minimum room commitments. The table above represents only a portion of our expected future consolidated revenues and it is not necessarily indicative of the expected trend in total revenues.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
-Paragraph 13
-Subparagraph (b)(2)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (b)
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

DEBT - Long-term Debt Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Maturities of Long-term Debt [Abstract]
2022	$ 31,552
2023	31,552
2024	0
2025	112,026
Debt, gross	$ 175,130	$ 251,086

Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Revenues:

Total revenues

$ 594,463

$ 529,729

$ 527,555

Costs and expenses:

Selling, general and administrative expenses

60,600

53,656

59,586

Depreciation and amortization expense

83,101

96,547

123,768

Impairment expense

7,935

144,120

26,148

Other operating expense

313

506

290

Total costs and expenses

588,411

676,917

576,606

Operating income (loss)

6,052

(147,188)

(49,051)

Interest expense

(12,964)

(16,687)

(27,383)

Loss on extinguishment of debt

(416)

(383)

Interest income

Other income

13,199

20,823

7,281

Income (loss) before income taxes

5,873

(143,415)

(69,075)

Income tax (expense) benefit

(3,376)

10,635

10,741

Net income (loss)

2,497

(132,780)

(58,334)

Less: Net income attributable to noncontrolling interest

1,147

1,470

157

Net income (loss) attributable to Civeo Corporation

1,350

(134,250)

(58,491)

Less: Dividends attributable to Class A preferred shares

1,925

1,887

1,849

Net loss attributable to Civeo common shareholders

$ (575)

$ (136,137)

$ (60,340)

Per Share Data (see Note 6)

Basic net loss per share attributable to Civeo Corporation common shareholders (in dollars per share)

^[1]

$ (0.04)

$ (9.64)

$ (4.33)

Diluted net loss per share attributable to Civeo Corporation common shareholders (in dollars per share)

^[1]

$ (0.04)

$ (9.64)

$ (4.33)

Weighted average number of common shares outstanding:

Basic (in shares)

14,232

14,129

13,921

Diluted (in shares)

14,232

14,129

13,921

Service and other

Revenues:

Total revenues

$ 575,186

$ 505,401

$ 492,700

Costs and expenses:

Service, other and product costs

420,579

361,505

338,923

Rental

Revenues:

Total revenues

16,033

16,817

27,993

Costs and expenses:

Service, other and product costs

13,960

14,971

22,510

Product

Revenues:

Total revenues

3,244

7,511

6,862

Costs and expenses:

Service, other and product costs

$ 1,923

$ 5,612

$ 5,381

[1]	Reflects our 1-for-12 reverse share split that became effective November 19, 2020. See Note 1 - Description of Business and Basis of Presentation to the notes to the consolidated financial statements in Item 8 of this annual report for further discussion.

DEBT - Credit Agreement (Details) $ in Thousands, $ in Millions, $ in Millions				3 Months Ended			12 Months Ended
	Sep. 30, 2021 CAD ($)	Sep. 29, 2021 CAD ($)	Sep. 08, 2021 USD ($)	Mar. 31, 2022	Dec. 31, 2021 USD ($) lender	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($) lender	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2021 AUD ($) lender	Sep. 08, 2021 CAD ($)
Debt Instrument [Line Items]
Maximum leverage ratio					3.25	3.50	3.50
Loss on extinguishment of debt						$ 400	$ 416	$ 383	$ 0
Debt issuance costs					$ 1,952		$ 1,952	2,501
Interest coverage ratio							3.00
Maximum senior secured ratio							2.00
Long-term debt					$ 173,178		$ 173,178	248,585
Scenario, Forecast
Debt Instrument [Line Items]
Maximum leverage ratio				3.00
Credit Agreement
Debt Instrument [Line Items]
Number of lenders \| lender					7		7			7
Credit Agreement \| Minimum
Debt Instrument [Line Items]
Lender commitments					$ 22,500		$ 22,500
Credit Agreement \| Maximum
Debt Instrument [Line Items]
Lender commitments					52,000		52,000
Credit Agreement \| US Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount								194,800
Canadian Term Loan
Debt Instrument [Line Items]
Line of credit facility, periodic payment, principal	$ 10.0	$ 11.2
Debt issuance costs						$ 3,000
Revolving Credit Facility \| Credit Agreement
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity			$ 200,000					167,300
Line of credit facility, increase (decrease), net			32,700
Revolving Credit Facility \| Credit Agreement \| US Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount											$ 100.0
Revolving Credit Facility, U.S. Subsidiaries \| Credit Agreement
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity			10,000					10,000
Letters of credit outstanding					300		300
Revolving Credit Facility, Canadian Subsidiaries \| Credit Agreement
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity			155,000					122,300
Letters of credit outstanding					0		0
Revolving Credit Facility, Australian Subsidiaries \| Credit Agreement
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity			$ 35,000					$ 35,000
Letters of credit outstanding					$ 1,200		$ 1,200
Bank Guarantee Facility
Debt Instrument [Line Items]
Long-term debt										$ 0.8
London Interbank Offered Rate (LIBOR) \| Line of Credit \| Minimum \| United States of America, Dollars
Debt Instrument [Line Items]
Interest rate spread							3.00%
London Interbank Offered Rate (LIBOR) \| Line of Credit \| Maximum \| United States of America, 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							2.00%
Base Rate \| Line of Credit \| Minimum \| Canada, Dollars
Debt Instrument [Line Items]
Interest rate spread							2.00%
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%
Canadian Dealer Offered Rate (CDOR) \| Line of Credit \| Minimum \| Canada, Dollars
Debt Instrument [Line Items]
Interest rate spread							3.00%
Canadian Dealer Offered Rate (CDOR) \| Line of Credit \| Maximum \| Canada, Dollars
Debt Instrument [Line Items]
Interest rate spread							4.00%
Bank Bill Swap Bid Rate (BBSY) \| Line of Credit \| Minimum \| Australia, Dollars
Debt Instrument [Line Items]
Interest rate spread							3.00%
Bank Bill Swap Bid Rate (BBSY) \| Line of Credit \| Maximum \| Australia, Dollars
Debt Instrument [Line Items]
Interest rate spread							4.00%

REVENUE - Disaggregation of Revenue (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) segment	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Disaggregation of Revenue [Line Items]
Number of reportable segments \| segment	3
Total revenues	$ 594,463	$ 529,729	$ 527,555
Canada
Disaggregation of Revenue [Line Items]
Total revenues	321,378	269,649	325,651
Australia
Disaggregation of Revenue [Line Items]
Total revenues	251,074	234,542	156,093
U.S.
Disaggregation of Revenue [Line Items]
Total revenues	22,011	25,538	45,811
Accommodation revenues \| Canada
Disaggregation of Revenue [Line Items]
Total revenues	239,526	202,534	281,577
Accommodation revenues \| Australia
Disaggregation of Revenue [Line Items]
Total revenues	145,335	144,070	126,047
Accommodation revenues \| U.S.
Disaggregation of Revenue [Line Items]
Total revenues	5,437	2,451	12,462
Mobile facility rental revenues \| Canada
Disaggregation of Revenue [Line Items]
Total revenues	62,856	33,192	9,575
Mobile facility rental revenues \| U.S.
Disaggregation of Revenue [Line Items]
Total revenues	14,486	16,837	28,119
Food service and other services revenues \| Canada
Disaggregation of Revenue [Line Items]
Total revenues	18,996	33,923	33,485
Food service and other services revenues \| Australia
Disaggregation of Revenue [Line Items]
Total revenues	105,739	90,472	30,046
Food service and other services revenues \| U.S.
Disaggregation of Revenue [Line Items]
Total revenues	50	50	145
Manufacturing revenues \| Canada
Disaggregation of Revenue [Line Items]
Total revenues	0	0	1,014
Manufacturing revenues \| U.S.
Disaggregation of Revenue [Line Items]
Total revenues	$ 2,038	$ 6,200	$ 5,085

IMPAIRMENT CHARGES - Summary of Pre-tax Impairment Charges Included in Impairment Expense (Details) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Jun. 30, 2021	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Impaired Long-Lived Assets Held and Used [Line Items]
Goodwill		$ 93,606	$ 19,900			$ 93,606
Long-lived assets	$ 7,935	50,514	702	$ 5,546
Total	7,935	144,120			$ 7,935	144,120	$ 26,148
Canada
Impaired Long-Lived Assets Held and Used [Line Items]
Goodwill		93,606	19,900			93,606
Long-lived assets	0	38,075	702	0
Total	0	131,681					20,602
Australia
Impaired Long-Lived Assets Held and Used [Line Items]
Goodwill		0	0			0
Long-lived assets	7,935	0	0	5,546
Total	7,935	0					5,546
U.S.
Impaired Long-Lived Assets Held and Used [Line Items]
Goodwill		0	0			$ 0
Long-lived assets	0	12,439	$ 0	$ 0
Total	$ 0	$ 12,439					$ 0

DETAILS OF SELECTED BALANCE SHEET ACCOUNTS - Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Inventory, Net [Abstract]
Finished goods and purchased products	$ 5,346	$ 5,047
Work in process	25	45
Raw materials	1,097	1,089
Total inventories	$ 6,468	$ 6,181

ASSETS HELD FOR SALE - Carrying Amount of Assets Held for Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Assets held for sale:
Property, plant and equipment, net	$ 11,762	$ 3,910
Total assets held for sale	$ 11,762	$ 3,910

- Definition

Amount classified as assets attributable to disposal group held for sale or disposed of, expected to be disposed of within one year or the normal operating cycle, if longer.

+ References + Details

Consolidated Statements of Operations (Parentheticals)	Nov. 19, 2020
Income Statement [Abstract]
Reverse stock split, conversion ratio	0.0833

LEASES - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
2022	$ 5,302
2023	4,596
2024	4,124
2025	3,175
2026	2,520
Thereafter	3,319
Total lease payments	23,036
Less imputed interest	3,363
Total	$ 19,673	$ 24,271

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 2,497	$ (132,780)	$ (58,334)
Other comprehensive income (loss), net of taxes:
Foreign currency translation adjustment, net of zero taxes	(12,936)	14,266	8,076
Total other comprehensive income (loss), net of taxes	(12,936)	14,266	8,076
Comprehensive loss	(10,439)	(118,514)	(50,258)
Less: Comprehensive income attributable to noncontrolling interest	1,105	1,552	157
Comprehensive loss attributable to Civeo Corporation	$ (11,544)	$ (120,066)	$ (50,415)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

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+ Details

- 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

ASSETS HELD FOR SALE

12 Months Ended

Dec. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

ASSETS HELD FOR SALE

During the third quarter of 2021, we committed to a plan to dispose of certain assets in our U.S. business segment, due to the risks associated with changing geographic and market needs. Accordingly, the assets met the criteria of held for sale and we have discontinued depreciation of the assets. During the fourth quarter of 2021, we received $6.2 million in proceeds for the sale of one of the two asset groups. The remaining asset group's estimated fair value less the costs to sell exceeded its carrying value as of December 31, 2021.

In addition, as of December 31, 2021, assets held for sale included various non-operational land holdings in Australia. These assets were recorded at the estimated fair value less costs to sell, which exceeded their carrying values, as of December 31, 2021.

As of December 31, 2020, assets held for sale included $3.9 million related to our modular construction and manufacturing plant near Edmonton, Alberta, Canada. During the first quarter 2021, we received $5.2 million in proceeds for the sale of the manufacturing facility.

The following table summarizes the carrying amount as of December 31, 2021 and 2020 of the assets classified as held for sale (in thousands):


	December 31, 2021		December 31, 2020
Assets held for sale:
Property, plant and equipment, net	$	11,762	$	3,910
Total assets held for sale	$	11,762	$	3,910

DEBT (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

As of December 31, 2021 and 2020, long-term debt consisted of the following (in thousands):


	December 31, 2021		December 31, 2020
Canadian term loan; weighted average interest rate of 4.0% for the twelve-month period ended December 31, 2021	63,104		187,530
U.S. revolving credit facility; weighted average interest rate of 5.7% for the twelve-month period ended December 31, 2021	—		—
Canadian revolving credit facility; weighted average interest rate of 4.4% for the twelve-month period ended December 31, 2021	111,300		45,789
Australian revolving credit facility; weighted average interest rate of 3.5% for the twelve-month period ended December 31, 2021	726		17,767
	175,130		251,086
Less: Unamortized debt issuance costs	1,952		2,501
Total debt	173,178		248,585
Less: Current portion of long-term debt, including unamortized debt issuance costs, net	30,576		34,585
Long-term debt, less current maturities	$	142,602	$	214,000

Schedule of Maturities of Long-term Debt

Scheduled maturities of long-term debt as of December 31, 2021 are as follows (in thousands):


	Year Ending December 31,
2022	31,552
2023	31,552
2024	—
2025	112,026
	$	175,130

- 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.

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+ Details

LEASES

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

LEASES

We have operating leases covering certain land locations and various office facilities and equipment in our three reportable business segments. Our leases have remaining lease terms of one year to six 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. In addition, we do not recognize right-of-use assets or lease liabilities for leases with terms shorter than twelve months.

The components of lease expense were $5.9 million, $6.8 million and $6.8 million under operating leases for the years ended December 31, 2021, 2020 and 2019, respectively. Included in the measurement of lease liabilities, we paid $6.0 million in cash related to operating leases during the year ended December 31, 2021. Right-of-use assets obtained in exchange for new lease obligations related to operating leases during the year ended December 31, 2021 were $0.6 million.

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


	December 31, 2021			December 31, 2020
Operating leases
Operating lease right-of-use assets	$	18,327		$	22,606

Other current liabilities	$	4,244		$	4,437
Operating lease liabilities	15,429			19,834
Total operating lease liabilities	$	19,673		$	24,271

Weighted average remaining lease term
Operating leases	5.1 years			5.7 years
Weighted average discount rate
Operating leases	5.1		%	5.4		%

Maturities of operating lease liabilities at December 31, 2021, were as follows (in thousands):


For the years ending December 31,
2022	$	5,302
2023	4,596
2024	4,124
2025	3,175
2026	2,520
Thereafter	3,319
Total lease payments	23,036
Less imputed interest	3,363
Total	$	19,673

VALUATION ACCOUNTS

12 Months Ended

Dec. 31, 2021

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

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, 2021:
Allowance for credit losses on accounts receivable	$	275	$	131	$	(30)	$	(15)	$	361
Valuation allowance for deferred tax assets	88,251		1,028		(656)		(3,272)		85,351

Year Ended December 31, 2020:
Allowance for credit losses on accounts receivable	$	253	$	46	$	(44)	$	20	$	275
Valuation allowance for deferred tax assets	84,503		(1,355)		(1,663)		6,766		88,251

Year Ended December 31, 2019:
Allowance for credit losses on accounts receivable	$	376	$	(5)	$	(122)	$	4	$	253
Valuation allowance for deferred tax assets	82,833		2,257		(499)		(88)		84,503

ASSETS HELD FOR SALE (Tables)

12 Months Ended

Dec. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following table summarizes the carrying amount as of December 31, 2021 and 2020 of the assets classified as held for sale (in thousands):


	December 31, 2021		December 31, 2020
Assets held for sale:
Property, plant and equipment, net	$	11,762	$	3,910
Total assets held for sale	$	11,762	$	3,910

- 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.

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+ Details

LEASES - Operating Leases Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Operating leases
Operating lease right-of-use assets	$ 18,327	$ 22,606
Liabilities [Abstract]
Other current liabilities	4,244	4,437
Operating lease liabilities	15,429	19,834
Total operating lease liabilities	$ 19,673	$ 24,271
Weighted average remaining lease term, operating leases	5 years 1 month 6 days	5 years 8 months 12 days
Weighted average discount rate, operating leases	5.10%	5.40%
Operating lease, liability, current, statement of financial position	Other current liabilities	Other current liabilities

ASSET RETIREMENT OBLIGATIONS - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Asset Retirement Obligation Disclosure [Abstract]
Accretion of discount	$ 1,429	$ 1,526	$ 1,538

ASSET RETIREMENT OBLIGATIONS (Tables)

12 Months Ended

Dec. 31, 2021

Asset Retirement Obligation Disclosure [Abstract]

Schedule of Asset Retirement Obligations

AROs at December 31, 2021 and 2020 were (in thousands):


	2021		2020
Asset retirement obligations	$	13,745	$	14,993
Less: Asset retirement obligations due within one year (1)	564		1,322
Long-term asset retirement obligations	$	13,181	$	13,671


(1)			Classified as a current liability on the consolidated balance sheets, under the caption “Other current liabilities.” Balance at December 31, 2021 related to remediation work planned for 2022.

Schedule of Change in Asset Retirement Obligation

During the years ended December 31, 2021, 2020 and 2019, our ARO changed as follows (in thousands):


	2021		2020		2019
Balance as of January 1	$	14,993	$	18,796	$	18,381
Accretion of discount	1,429		1,526		1,538
New obligations	—		—		497
Change in estimates of existing obligations	(763)		(3,961)		(1,989)
Settlement of obligations	(1,943)		(1,771)		(462)
Foreign currency translation	29		403		831
Balance as of December 31	$	13,745	$	14,993	$	18,796

DEBT - Long-term Debt (Details) - USD ($) $ in Thousands	12 Months Ended
DEBT - Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Debt, gross	$ 175,130		$ 251,086
Less: Unamortized debt issuance costs	1,952		2,501
Total debt	173,178		248,585
Less: Current portion of long-term debt, including unamortized debt issuance costs, net	30,576		34,585
Long-term debt, less current maturities	$ 142,602		214,000
Canadian Term Loan
Debt Instrument [Line Items]
Term loan, weighted-average interest rate	4.00%
Canadian term loan	$ 63,104		187,530
Less: Unamortized debt issuance costs		$ 3,000
US Revolving Credit Facility
Debt Instrument [Line Items]
Interest rate on line of credit facility	5.70%
Revolving credit facilities	$ 0		0
Canadian Credit Facility
Debt Instrument [Line Items]
Interest rate on line of credit facility	4.40%
Revolving credit facilities	$ 111,300		45,789
Australian Credit Facility
Debt Instrument [Line Items]
Interest rate on line of credit facility	3.50%
Revolving credit facilities	$ 726		$ 17,767

SEGMENT AND RELATED INFORMATION - Financial Information by Business Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Total Revenues	$ 594,463	$ 529,729	$ 527,555
Depreciation and amortization	83,101	96,547	123,768
Operating (loss) income	6,052	(147,188)	(49,051)
Capital expenditures	15,571	10,083	29,812
Total assets	672,734	740,853	969,912
Canada
Segment Reporting Information [Line Items]
Total Revenues	321,378	269,649	325,651
Australia
Segment Reporting Information [Line Items]
Total Revenues	251,074	234,542	156,093
U.S.
Segment Reporting Information [Line Items]
Total Revenues	22,011	25,538	45,811
Operating Segments \| Canada
Segment Reporting Information [Line Items]
Total Revenues	321,378	269,649	325,651
Depreciation and amortization	47,253	52,009	66,557
Operating (loss) income	12,816	(146,435)	(32,313)
Capital expenditures	6,747	2,201	22,124
Total assets	764,519	720,482	850,361
Operating Segments \| Australia
Segment Reporting Information [Line Items]
Total Revenues	251,074	234,542	156,093
Depreciation and amortization	33,110	40,747	39,116
Operating (loss) income	7,303	27,804	517
Capital expenditures	6,823	5,470	3,456
Total assets	226,318	281,180	278,268
Operating Segments \| U.S.
Segment Reporting Information [Line Items]
Total Revenues	22,011	25,538	45,811
Depreciation and amortization	2,060	3,240	10,987
Operating (loss) income	(8,869)	(23,151)	(11,214)
Capital expenditures	1,484	1,557	3,104
Total assets	22,595	26,801	46,862
Corporate and eliminations \| Corporate and eliminations
Segment Reporting Information [Line Items]
Total Revenues	0	0	0
Depreciation and amortization	678	551	7,108
Operating (loss) income	(5,198)	(5,406)	(6,041)
Capital expenditures	517	855	1,128
Total assets	$ (340,698)	$ (287,610)	$ (205,579)

SEGMENT AND RELATED INFORMATION (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Financial information by business segment for each of the three years ended December 31, 2021, 2020 and 2019 is summarized in the following table (in thousands):


	Total Revenues		Depreciation and amortization		Operating (loss) income		Capital expenditures		Total assets
2021
Canada	$	321,378	$	47,253	$	12,816	$	6,747	$	764,519
Australia	251,074		33,110		7,303		6,823		226,318
U.S.	22,011		2,060		(8,869)		1,484		22,595
Corporate and eliminations	—		678		(5,198)		517		(340,698)
Total	$	594,463	$	83,101	$	6,052	$	15,571	$	672,734

2020
Canada	$	269,649	$	52,009	$	(146,435)	$	2,201	$	720,482
Australia	234,542		40,747		27,804		5,470		281,180
U.S.	25,538		3,240		(23,151)		1,557		26,801
Corporate and eliminations	—		551		(5,406)		855		(287,610)
Total	$	529,729	$	96,547	$	(147,188)	$	10,083	$	740,853

2019
Canada	$	325,651	$	66,557	$	(32,313)	$	22,124	$	850,361
Australia	156,093		39,116		517		3,456		278,268
U.S.	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

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

Financial information by geographic segment as of and for each of the three years ended December 31, 2021, 2020 and 2019, 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
2021
Revenues from unaffiliated customers	$	321,378	$	251,074	$	22,011	$	594,463
Long-lived assets	325,160		177,607		12,774		515,541

2020
Revenues from unaffiliated customers	$	269,649	$	234,542	$	25,538	$	529,729
Long-lived assets	368,636		229,629		23,375		621,640

2019
Revenues from unaffiliated customers	$	325,651	$	156,093	$	45,811	$	527,555
Long-lived assets	558,310		242,002		38,159		838,471

DEBT

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

DEBT

As of December 31, 2021 and 2020, long-term debt consisted of the following (in thousands):


	December 31, 2021		December 31, 2020
Canadian term loan; weighted average interest rate of 4.0% for the twelve-month period ended December 31, 2021	63,104		187,530
U.S. revolving credit facility; weighted average interest rate of 5.7% for the twelve-month period ended December 31, 2021	—		—
Canadian revolving credit facility; weighted average interest rate of 4.4% for the twelve-month period ended December 31, 2021	111,300		45,789
Australian revolving credit facility; weighted average interest rate of 3.5% for the twelve-month period ended December 31, 2021	726		17,767
	175,130		251,086
Less: Unamortized debt issuance costs	1,952		2,501
Total debt	173,178		248,585
Less: Current portion of long-term debt, including unamortized debt issuance costs, net	30,576		34,585
Long-term debt, less current maturities	$	142,602	$	214,000

Scheduled maturities of long-term debt as of December 31, 2021 are as follows (in thousands):


	Year Ending December 31,
2022	31,552
2023	31,552
2024	—
2025	112,026
	$	175,130

Amended and Restated Credit Agreement

As of December 31, 2020, our credit agreement provided for a $167.3 million revolving credit facility scheduled to mature on May 30, 2023, allocated as follows: (A) a $10.0 million senior secured revolving credit facility in favor of certain of our U.S. subsidiaries, as borrowers; (B) a $122.3 million senior secured revolving credit facility in favor of Civeo and certain of our Canadian subsidiaries, as borrowers; (C) a $35.0 million senior secured revolving credit facility in favor of one of our Australian subsidiaries, as borrower; and (D) a $194.8 million term loan facility scheduled to mature on May 30, 2023 for certain lenders in favor of Civeo.

New Syndicated Facility Agreement

On September 8, 2021, we entered into a new Syndicated Facility Agreement (Credit Agreement), which, among other things, as compared to the prior credit agreement outstanding prior to the effectiveness of the Credit Agreement:

•provided for the increase by $32.7 million of the aggregate revolving loan commitments under the Credit Agreement, to a maximum principal amount of $200.0 million, allocated as follows: (A) a $10.0 million senior secured revolving credit facility in favor of one of our U.S. subsidiaries, as borrower; (B) a $155.0 million senior secured revolving credit facility in favor of Civeo, as borrower; and (C) a $35.0 million senior secured revolving credit facility in favor of one of our Australian subsidiaries, as borrower, scheduled to mature on September 8, 2025;

•provided for a C$100.0 million term loan facility scheduled to be fully repaid on December 31, 2023 in favor of Civeo;

•adjusted the maximum leverage ratio to a maximum total net leverage ratio, and adjusted the level of the ratio to (i) 3.50 to 1.00 for the fiscal quarter ending September 30, 2021, 3.25 to 1.00 for the fiscal quarters ending December 31, 2021 and March 31, 2022 and 3.00 to 1.00 for each fiscal quarter ending thereafter and (ii) following a qualified offering of indebtedness, 3.50 to 1.00 for each fiscal quarter;

•decreased amortization payments on the term loan facility from C$11.2 million per quarter to C$10.0 million per quarter beginning September 30, 2021; and

•provided for other technical changes and amendments.

As a result of entering into the Credit Agreement, we recognized a debt extinguishment loss during the third quarter of 2021 of approximately $0.4 million related to certain unamortized debt issuance costs from the prior credit agreement, which is included in Loss on extinguishment of debt on the consolidated statements of operations. The remaining $3.0 million of unamortized debt issuance costs from the prior credit agreement was not recognized as a loss as we concluded a significant portion of the Credit Agreement was a modification of the prior credit agreement under ASC 740, Debt.

U.S. dollar amounts outstanding under the facilities provided by the Credit Agreement bear interest at a variable rate equal to the London Inter-Bank Offered Rate (LIBOR) plus a margin of 3.00% to 4.00%, or a base rate plus 2.00% 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 Bankers' Acceptance Discount Rate (as defined in the Credit Agreement) based on the Canadian Dollar Offered Rate (CDOR) plus a margin of 3.00% to 4.00%, or a Canadian Prime rate plus a margin of 2.00% 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 3.00% 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 are addressed in the Credit Agreement and at such time the transition from (i) LIBOR takes place, an alternate benchmark will be established based on the first alternative of the following, plus a benchmark replacement adjustment, Term SOFR, Daily Simple SOFR and an alternative benchmark selected by the administrative agent and the applicable borrowers giving due consideration to any selection or recommendation by a government body or any evolving or then-prevailing market convention for determining a benchmark rate as a replacement for the then-current Benchmark for U.S. dollar-denominated syndicated credit facilities at such time or (ii) CDOR takes place, we will endeavor with the administrative agent to establish an alternate rate of interest to CDOR that gives due consideration to 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 a minimum interest coverage ratio, defined as the ratio of consolidated EBITDA to consolidated interest expense, of at least 3.00 to 1.00 and our maximum net leverage ratio, defined as the ratio of total net debt to consolidated EBITDA, of no greater than the levels set forth above. Following a qualified offering of indebtedness, we will be required to maintain a maximum leverage ratio of no greater than 3.50 to 1.00 and a maximum senior secured ratio less than 2.00 to 1.00. 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, 2021.

Borrowings under the Credit Agreement are secured by a pledge of substantially all of our assets and the assets of our subsidiaries subject to customary exceptions. The obligations under the Credit Agreement are guaranteed by our significant subsidiaries. As of December 31, 2021, we had seven lenders that were parties to the Credit Agreement, with total commitments (including both revolving commitments and term commitments) ranging from $22.5 million to $52.0 million. As of December 31, 2021, we had outstanding letters of credit of $0.3 million under the U.S facility, zero under the Australian facility and $1.2 million under the Canadian facility. We also had outstanding bank guarantees of A$0.8 million under the Australian facility.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1I
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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-Paragraph 1E
-Subparagraph (b)
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-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

FAIR VALUE MEASUREMENTS - Additional Information (Details) - Measurement Input, Discount Rate	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2021
Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill impairment discount rate	10.50%	10.50%
Long-lived asset impairment, measurement input			11.00%
Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Goodwill impairment discount rate	14.00%	14.00%
Long-lived asset impairment, measurement input			14.00%

ASSET RETIREMENT OBLIGATIONS

12 Months Ended

Dec. 31, 2021

Asset Retirement Obligation Disclosure [Abstract]

ASSET RETIREMENT OBLIGATIONS

AROs at December 31, 2021 and 2020 were (in thousands):


	2021		2020
Asset retirement obligations	$	13,745	$	14,993
Less: Asset retirement obligations due within one year (1)	564		1,322
Long-term asset retirement obligations	$	13,181	$	13,671


(1)			Classified as a current liability on the consolidated balance sheets, under the caption “Other current liabilities.” Balance at December 31, 2021 related to remediation work planned for 2022.

Total accretion expense related to AROs was $1.4 million, $1.5 million and $1.5 million during the years ended December 31, 2021, 2020 and 2019, respectively.

During the years ended December 31, 2021, 2020 and 2019, our ARO changed as follows (in thousands):


	2021		2020		2019
Balance as of January 1	$	14,993	$	18,796	$	18,381
Accretion of discount	1,429		1,526		1,538
New obligations	—		—		497
Change in estimates of existing obligations	(763)		(3,961)		(1,989)
Settlement of obligations	(1,943)		(1,771)		(462)
Foreign currency translation	29		403		831
Balance as of December 31	$	13,745	$	14,993	$	18,796

PREFERRED SHARES (Tables)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Schedule of Preferred Dividends

During the years ended December 31, 2021, 2020 and 2019, we recognized preferred dividends on the Preferred Shares as follows (in thousands):


	2021		2020		2019

In-kind dividends	$	1,925	$	1,887	$	1,849

Total preferred dividends	$	1,925	$	1,887	$	1,849

VALUATION ACCOUNTS - Activity in Valuation Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Allowance for credit losses on accounts receivable
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 275	$ 253	$ 376
Charged (Reduction) to Costs and Expenses	131	46	(5)
Deductions (Net of Recoveries)	(30)	(44)	(122)
Translation and Other, Net	(15)	20	4
Balance at End of Period	361	275	253
Valuation allowance for deferred tax assets
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	88,251	84,503	82,833
Charged (Reduction) to Costs and Expenses	1,028	(1,355)	2,257
Deductions (Net of Recoveries)	(656)	(1,663)	(499)
Translation and Other, Net	(3,272)	6,766	(88)
Balance at End of Period	$ 85,351	$ 88,251	$ 84,503

FAIR VALUE MEASUREMENTS	12 Months Ended
FAIR VALUE MEASUREMENTS	Dec. 31, 2021
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, 2021 and 2020, 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. In addition, the estimated fair value of our assets held for sale is based upon Level 2 fair value measurements, which include appraisals and previous negotiations with third parties. During the first quarter of 2020 and the fourth quarter of 2019, we recorded goodwill impairment charges 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 cash flows, oil, met coal and natural gas prices, anticipated spending by our customers, the cost of capital, and industry and/or local market conditions. We estimated the fair value when conducting the first quarter of 2020 goodwill impairment test primarily using an income approach and we used a combination of income and market approaches when conducting the fourth quarter of 2019 goodwill impairment test. The discount rates used to value our reporting units for the first quarter of 2020 and the fourth quarter of 2019 for the goodwill impairment test ranged between 10.5% and 14.0%. During the second quarter of 2021, the first quarter of 2020 and the fourth and second quarters of 2019, we wrote down certain long-lived assets to fair value. During the first quarter of 2020, we estimated the fair value when conducting the long-lived asset impairment tests primarily using an income approach. We used a variety of unobservable inputs and underlying assumptions consistent with those discussed above for purposes of our goodwill impairment test. The discount rates used to value our Canadian and U.S. segments long-lived asset impairment analysis ranged between 11.0% and 14.0%. Additionally, during the first quarter of 2020, our estimate of fair value of a property in the U.S. was taken from an appraisal, which referenced available market information, such as listing agreements, offers, and pending and closed sales. During the fourth quarter of 2019, our estimate of fair value of corporate office space in Canada and during the second quarter of 2021 and 2019, our estimate of fair value of land positions in Australia that were impaired, were based on appraisals from third parties. 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.

- 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

LEASES (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Supplemental balance sheet information

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


	December 31, 2021			December 31, 2020
Operating leases
Operating lease right-of-use assets	$	18,327		$	22,606

Other current liabilities	$	4,244		$	4,437
Operating lease liabilities	15,429			19,834
Total operating lease liabilities	$	19,673		$	24,271

Weighted average remaining lease term
Operating leases	5.1 years			5.7 years
Weighted average discount rate
Operating leases	5.1		%	5.4		%

Operating lease maturity schedule

Maturities of operating lease liabilities at December 31, 2021, were as follows (in thousands):


For the years ending December 31,
2022	$	5,302
2023	4,596
2024	4,124
2025	3,175
2026	2,520
Thereafter	3,319
Total lease payments	23,036
Less imputed interest	3,363
Total	$	19,673

SUPPLEMENTAL CASH FLOW INFORMATION

12 Months Ended

Dec. 31, 2021

Supplemental Cash Flow Information [Abstract]

SUPPLEMENTAL CASH FLOW INFORMATION

Cash paid during the years ended December 31, 2021, 2020 and 2019 for interest and income taxes was as follows (in thousands):


	2021		2020		2019
Interest (net of amounts capitalized)	$	9,991	$	12,597	$	23,882
Net income taxes paid, net of refunds received	334		600		1,045

DETAILS OF SELECTED BALANCE SHEET ACCOUNTS - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 1,807,320	$ 1,909,722
Accumulated depreciation	(1,417,324)	(1,422,792)
Total property, plant and equipment, net	389,996	486,930
Land
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	30,556	47,751
Accommodations assets
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 1,657,577	1,737,620
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	$ 24,335	28,831
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	$ 14,983	12,784
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	$ 63,228	61,850
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	$ 14,578	15,363
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	$ 2,063	$ 5,523

IMPAIRMENT CHARGES (Tables)

12 Months Ended

Dec. 31, 2021

Asset Impairment Charges [Abstract]

Asset Impairment Charges

The following summarizes pre-tax impairment charges recorded during 2021, which are included in Impairment expense in our consolidated statements of operations (in thousands):


	Canada		Australia		U.S.		Total
Quarter ended June 30, 2021
Long-lived assets	$	—	$	7,935	$	—	$	7,935
Total	$	—	$	7,935	$	—	$	7,935

The following summarizes pre-tax impairment charges recorded during 2020, which are included in Impairment expense in our consolidated statements of operations (in thousands):


	Canada		Australia		U.S.		Total
Quarter ended March 31, 2020
Goodwill	$	93,606	$	—	$	—	$	93,606
Long-lived assets	38,075		—		12,439		50,514
Total	$	131,681	$	—	$	12,439	$	144,120

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

ASSETS HELD FOR SALE - Narrative (Details) - Discontinued Operations, Held-for-sale - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
U.S.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of assets	$ 6.2
Canada
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of assets		$ 5.2
Assets held for sale			$ 3.9

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	12 Months Ended
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	Dec. 31, 2021
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 provide hospitality services to the natural resources industry in Canada, Australia and the U.S. We provide a full suite of hospitality services for our guests, including lodging, catering and 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, liquefied natural gas (LNG) 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 reportable 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. Reverse Share Split On November 19, 2020, we effected a reverse share split where each twelve issued and outstanding common shares were converted into one common share. Our common shares began trading on a reverse share split adjusted basis on November 19, 2020. A total of 14,215,169 common shares were issued and outstanding immediately after the reverse share split. No fractional shares were outstanding following the reverse share split. In lieu of any fractional share, the aggregate number of common shares that a holder was entitled to was, if the fraction was less than half a common share, rounded down to the next closest whole number of common shares, and if the fraction was at least half of a common share, rounded up to one whole common share. The reverse share split did not affect the number of authorized or issued and outstanding shares of our preferred shares. As a result of the reverse share split, the conversion price for the Company’s outstanding Class A Series 1 preferred shares (Series A preferred shares) was automatically increased to $39.60 for each Series A preferred share (previously it was $3.30 per Series A preferred share). All authorized, issued and outstanding shares and per share amounts contained in the accompanying consolidated financial statements have been adjusted to reflect this reverse share split for all prior periods presented.

LEASES - Narrative (Details) $ in Millions	12 Months Ended
LEASES - Narrative (Details) $ in Millions	Dec. 31, 2021 USD ($) segment	Dec. 31, 2020 USD ($)	Dec. 31, 2019 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	$ 5.9	$ 6.8	$ 6.8
Cash payment for leases	6.0
Right-of-use asset obtained in exchange for new lease obligation	$ 0.6
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	6 years

SEGMENT AND RELATED INFORMATION

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

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 reportable segments: Canada, Australia and the 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, 2021, 2020 and 2019 is summarized in the following table (in thousands):


	Total Revenues		Depreciation and amortization		Operating (loss) income		Capital expenditures		Total assets
2021
Canada	$	321,378	$	47,253	$	12,816	$	6,747	$	764,519
Australia	251,074		33,110		7,303		6,823		226,318
U.S.	22,011		2,060		(8,869)		1,484		22,595
Corporate and eliminations	—		678		(5,198)		517		(340,698)
Total	$	594,463	$	83,101	$	6,052	$	15,571	$	672,734

2020
Canada	$	269,649	$	52,009	$	(146,435)	$	2,201	$	720,482
Australia	234,542		40,747		27,804		5,470		281,180
U.S.	25,538		3,240		(23,151)		1,557		26,801
Corporate and eliminations	—		551		(5,406)		855		(287,610)
Total	$	529,729	$	96,547	$	(147,188)	$	10,083	$	740,853

2019
Canada	$	325,651	$	66,557	$	(32,313)	$	22,124	$	850,361
Australia	156,093		39,116		517		3,456		278,268
U.S.	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


	Canada		Australia		U.S. and Other		Total
2021
Revenues from unaffiliated customers	$	321,378	$	251,074	$	22,011	$	594,463
Long-lived assets	325,160		177,607		12,774		515,541

2020
Revenues from unaffiliated customers	$	269,649	$	234,542	$	25,538	$	529,729
Long-lived assets	368,636		229,629		23,375		621,640

2019
Revenues from unaffiliated customers	$	325,651	$	156,093	$	45,811	$	527,555
Long-lived assets	558,310		242,002		38,159		838,471

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Share-based Compensation, Stock Options, Activity


	Options	Weighted Average Exercise Price Per Share		Weighted Average Contractual Life (Years)	Intrinsic Value (Thousands)
Outstanding Options at December 31, 2018	12,143	$	215.59	3.3	$	—



Outstanding Options at December 31, 2019	12,143	$	215.59	2.3	$	—


Forfeited / Expired	(1,817)	197.16
Outstanding Options at December 31, 2020	10,326	$	218.83	1.4	$	—


Forfeited / Expired	(8,414)	216.78
Outstanding Options at December 31, 2021	1,912	$	227.85	1.2	$	—

Exercisable Options at December 31, 2019	12,143	$	215.59	2.3	$	—
Exercisable Options at December 31, 2020	10,326	$	218.83	1.4	$	—
Exercisable Options at December 31, 2021	1,912	$	227.85	1.2	$	—

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, 2021:


	Options Outstanding				Options Exercisable
Range of Exercise Prices	Number Outstanding as of December 31, 2021	Weighted Average Remaining Contractual Life	Weighted Average Exercise Price		Number Exercisable as of December 31, 2021	Weighted Average Exercise Price
$209.76	956	1.1	$	209.76	956	$	209.76
$221.16	382	0.1	$	221.16	382	$	221.16
$262.44	574	2.1	$	262.44	574	$	262.44
$209.76 - 262.44	1,912	1.2	$	227.85	1,912	$	227.85

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


	Number of Awards/Units	Weighted Average Grant Date Fair Value Per Share
Nonvested shares at December 31, 2018	307,121	$	39.73
Granted	143,756	27.50
Vested	(135,943)	39.10
Forfeited	(8,138)	38.79
Nonvested shares at December 31, 2019	306,796	$	34.31
Granted	1,906	4.95
Vested	(186,551)	33.78
Forfeited	(17,060)	35.26
Nonvested shares at December 31, 2020	105,091	$	34.56
Granted	59,027	17.58
Vested	(77,304)	35.76
Forfeited	(1,957)	30.36
Nonvested shares at December 31, 2021	84,857	$	21.76

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, 2021, 2020 and 2019:


			Number of Awards
Nonvested shares at December 31, 2018			188,883
Granted			117,943
Vested			(171,641)
Forfeited			(1,057)
Nonvested shares at December 31, 2019			134,128
Granted			413,569
Vested			(55,977)
Forfeited			(33,545)
Nonvested shares at December 31, 2020			458,175
Granted			351,853
Vested			(163,499)
Forfeited			(27,081)
Nonvested shares at December 31, 2021			619,448

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


	2021		2019
Risk-free weighted interest rate	0.2	%	2.5	%
Expected volatility	83.0	%	68.0	%
Initial TSR	27.1	%	0.70	%

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, 2021, 2020 and 2019:


	Number of Awards	Weighted Average Grant Date Fair Value Per Share
Nonvested shares at December 31, 2018	293,695	$	47.86
Granted	98,717	44.76
Performance adjustment (1)	160,156	35.20
Vested	(320,312)	35.20
Forfeited	—	—
Nonvested shares at December 31, 2019	232,256	$	55.27
Granted	—	—
Performance adjustment (2)	47,101	62.40
Vested	(109,904)	62.40
Forfeited	(17,141)	50.56
Nonvested shares at December 31, 2020	152,312	$	52.86
Granted	129,754	26.86
Performance adjustment (3)	28,466	63.60
Vested	(93,922)	63.60
Forfeited	(1,296)	44.76
Nonvested shares at December 31, 2021	215,314	$	33.97

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

(2)Related to 2017 performance share awards that vested in 2020, which were paid out at 175% based on Civeo's TSR rank.

(3)Related to 2018 performance share awards that vested in 2021, which were paid out at 150% based on Civeo's TSR rank.

SUPPLEMENTAL CASH FLOW INFORMATION - Cash Paid for Interest and Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Supplemental Cash Flow Information [Abstract]
Interest (net of amounts capitalized)	$ 9,991	$ 12,597	$ 23,882
Net income taxes paid, net of refunds received	$ 334	$ 600	$ 1,045

PREFERRED SHARES - Dividends (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Equity [Abstract]
In-kind dividends	$ 1,925	$ 1,887	$ 1,849
Deemed dividend on beneficial conversion feature related to in-kind dividend	$ 1,925	$ 1,887	$ 1,849

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Goodwill	$ 8,204,000	$ 8,729,000	$ 110,173,000
Foreign currency losses	300,000	500,000	300,000
Maximum amount of future payments under guarantee arrangements	2,000,000
Canada
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Goodwill	0	0	102,238,000	$ 0
Australia
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Goodwill	$ 8,204,000	$ 8,729,000	$ 7,935,000
Percentage of fair value in excess of carrying amount				125.00%
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%
Civeo Plan \| Performance Shares
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of participant target performance share award	150.00%	175.00%	200.00%
Minimum \| Civeo Plan \| Performance Shares
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of participant target performance share award	0.00%
Maximum \| Civeo Plan \| Performance Shares
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of participant target performance share award	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%

SHARE-BASED COMPENSATION - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Options (in shares)
Outstanding, beginning of period	10,326	12,143	12,143
Forfeited / Expired	(8,414)	(1,817)
Outstanding, end of period	1,912	10,326	12,143	12,143
Exercisable options at end of period	1,912	10,326	12,143
Weighted Average Exercise Price Per Share
Outstanding, beginning of period (in dollars per share)	$ 218.83	$ 215.59	$ 215.59
Forfeited / Expired (in dollars per share)	216.78	197.16
Outstanding, end of period (in dollars per share)	227.85	218.83	215.59	$ 215.59
Exercisable at end of period (in dollars per share)	$ 227.85	$ 218.83	$ 215.59
Weighted Average Contractual Life (Years)
Outstanding, weighted average contractual life (in years)	1 year 2 months 12 days	1 year 4 months 24 days	2 years 3 months 18 days	3 years 3 months 18 days
Exercisable, weighted average contractual life (in years)	1 year 2 months 12 days	1 year 4 months 24 days	2 years 3 months 18 days
Intrinsic Value (Thousands)
Outstanding	$ 0	$ 0	$ 0	$ 0
Exercisable	$ 0	$ 0	$ 0

EARNINGS PER SHARE - Calculation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator:
Net loss attributable to Civeo common shareholders	$ (575)	$ (136,137)	$ (60,340)
Less: income allocated to participating securities	0	0	0
Net loss attributable to Civeo common shareholders	(575)	(136,137)	(60,340)
Add: undistributed income attributable to participating securities	0	0	0
Less: undistributed income reallocated to participating securities	0	0	0
Diluted net loss attributable to Civeo Corporation common shareholders	$ (575)	$ (136,137)	$ (60,340)
Denominator:
Weighted average shares outstanding - basic (in shares)	14,232	14,129	13,921
Dilutive shares - share based awards (in shares)	0	0	0
Weighted average common shares outstanding - diluted (in shares)	14,232	14,129	13,921
Basic net loss per share attributable to Civeo Corporation common shareholders (in dollars per share)	$ (0.04)	$ (9.64)	$ (4.33)
Diluted net loss per share attributable to Civeo Corporation common shareholders (in dollars per share)	$ (0.04)	$ (9.64)	$ (4.33)

SHARE-BASED COMPENSATION - Stock Options Outstanding (Details)	12 Months Ended
	Dec. 31, 2021 $ / shares shares
Options Outstanding
Number Outstanding (in shares) \| shares	1,912
Weighted Average Remaining Contractual Life (in years)	1 year 2 months 12 days
Weighted Average Exercise Prices (in dollars per share)	$ 227.85
Options Exercisable
Number Outstanding (in shares) \| shares	1,912
Weighted Average Exercise Price (in dollars per share)	$ 227.85
Lower range of exercise prices (in dollars per share)	209.76
Upper range of exercise prices (in dollars per share)	$ 262.44
$209.76
Options Outstanding
Number Outstanding (in shares) \| shares	956
Weighted Average Remaining Contractual Life (in years)	1 year 1 month 6 days
Weighted Average Exercise Prices (in dollars per share)	$ 209.76
Options Exercisable
Number Outstanding (in shares) \| shares	956
Weighted Average Exercise Price (in dollars per share)	$ 209.76
$221.16
Options Outstanding
Number Outstanding (in shares) \| shares	382
Weighted Average Remaining Contractual Life (in years)	1 month 6 days
Weighted Average Exercise Prices (in dollars per share)	$ 221.16
Options Exercisable
Number Outstanding (in shares) \| shares	382
Weighted Average Exercise Price (in dollars per share)	$ 221.16
$262.44
Options Outstanding
Number Outstanding (in shares) \| shares	574
Weighted Average Remaining Contractual Life (in years)	2 years 1 month 6 days
Weighted Average Exercise Prices (in dollars per share)	$ 262.44
Options Exercisable
Number Outstanding (in shares) \| shares	574
Weighted Average Exercise Price (in dollars per share)	$ 262.44

INCOME TAXES - Narrative (Details) - USD ($)	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Enacted tax rate change - Canada	$ 0	$ 0	$ (2,452,000)
Decrease in deferred tax asset valuation allowance	9,100,000
Undistributed earnings of foreign subsidiaries	0	0
Unrecognized tax benefits	0	0	0
Interest expense and penalties accrued	$ 0	$ 0	$ 0

DETAILS OF SELECTED BALANCE SHEET ACCOUNTS - Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accrued liabilities:
Accrued compensation	$ 28,877	$ 22,475
Accrued taxes, other than income taxes	2,944	3,099
Other	1,743	1,775
Total accrued liabilities	$ 33,564	$ 27,349

Earnings Per Share - Narrative (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	0.2	0.4	0.5
Preferred Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount	2.5	2.4	2.4

SHARE-BASED COMPENSATION - Valuation Assumptions of Performance Share Awards (Details) - Civeo Plan - Performance Shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	83.00%	68.00%
Initial TSR	27.10%	0.70%
Weighted Average
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free weighted interest rate	0.20%	2.50%

Consolidated Statements of Changes in Shareholders' Equity - USD ($)

Total

Cumulative Effect, Period of Adoption, Adjustment

Preferred Shares

Cumulative Effect, Period of Adoption, Adjustment

Common Shares

Additional Paid-in Capital

Accumulated Deficit

Cumulative Effect, Period of Adoption, Adjustment

Treasury Shares

Accumulated Other Comprehensive Income (Loss)

Noncontrolling Interest

Beginning balance at Dec. 31, 2018

$ 535,424,000

$ (699,000)

$ 56,280,000

$ 0

$ 1,562,133,000

$ (710,551,000)

$ (699,000)

$ (1,189,000)

$ (371,249,000)

$ 0

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income (loss)

(58,334,000)

(58,491,000)

157,000

Currency translation adjustment

8,076,000

Dividends paid

(182,000)

Dividends attributable to Class A preferred shares

(1,849,000)

1,849,000

(1,849,000)

Acquisition of noncontrolling interest

687,000

Share-based compensation

5,833,000

10,116,000

(4,283,000)

Ending balance at Dec. 31, 2019

$ 490,805,000

$ 58,129,000

$ 1,887,000

$ 0

1,572,249,000

(771,590,000)

$ (1,887,000)

(5,472,000)

(363,173,000)

662,000

Beginning balance (in shares) at Dec. 31, 2018

9,042

13,828,000

^[1]

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Share-based compensation (in shares)

302,000

^[1]

Ending balance (in shares) at Dec. 31, 2019

9,042

14,130,000

^[1]

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Accounting standards update

Accounting Standards Update 2016-02 [Member]

Net income (loss)

$ (132,780,000)

(134,250,000)

1,470,000

Currency translation adjustment

14,266,000

14,184,000

82,000

Dividends paid

(1,542,000)

Dividends attributable to Class A preferred shares

(1,887,000)

Share-based compensation

4,608,000

6,066,000

(1,458,000)

Ending balance at Dec. 31, 2020

$ 375,357,000

$ 60,016,000

$ 0

1,578,315,000

(907,727,000)

(6,930,000)

(348,989,000)

672,000

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Share-based compensation (in shares)

85,000

^[1]

Ending balance (in shares) at Dec. 31, 2020

14,478,878

9,042

14,215,000

^[1]

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Net income (loss)

$ 2,497,000

1,350,000

1,147,000

Currency translation adjustment

(12,936,000)

(12,894,000)

(42,000)

Dividends paid

(165,000)

Dividends attributable to Class A preferred shares

(1,925,000)

$ 1,925,000

(1,925,000)

Common shares repurchased

(4,649,000)

Share-based compensation

3,007,000

4,127,000

(1,120,000)

Ending balance at Dec. 31, 2021

$ 363,111,000

$ 61,941,000

$ 0

$ 1,582,442,000

$ (912,951,000)

$ (8,050,000)

$ (361,883,000)

$ 1,612,000

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Share-based compensation (in shares)

113,000

^[1]

Common shares repurchased (in shares)

^[1]

(217,000)

Ending balance (in shares) at Dec. 31, 2021

14,431,819

9,042

14,111,000

^[1]

[1]	Reflects our 1-for-12 reverse share split that became effective November 19, 2020. See Note 1 - Description of Business and Basis of Presentation to the notes to the consolidated financial statements in Item 8 of this annual report for further discussion.

GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Weighted average remaining amortization period (in years)	16 years	16 years 10 months 24 days
Amortization expense	$ 6.0	$ 14.1	$ 14.8

ACCUMULATED OTHER COMPREHENSIVE LOSS - Narrative (Details) $ in Thousands, $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)	Dec. 31, 2021 CAD ($)	Dec. 31, 2021 AUD ($)	Dec. 31, 2020 USD ($)
Equity [Abstract]
Increase in comprehensive loss due to foreign currency exchange rate fluctuations	$ 12,900
Accumulated other comprehensive loss	$ 361,883			$ 348,989
Foreign functional currency net assets		$ 189	$ 268

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

INCOME TAXES - Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Canadian federal tax benefit at statutory rates	$ 779	$ (21,512)	$ (10,361)
Canadian Federal tax benefit at statutory rates, percent	13.30%	15.00%	15.00%
Canadian provincial income tax	$ 215	$ (12,718)	$ (5,158)
Canadian provincial income tax, percent	3.70%	8.90%	7.50%
Effect of foreign income tax, net	$ 1,189	$ 1,241	$ 55
Effect of foreign income tax, net, percent	20.20%	(0.90%)	(0.10%)
Valuation allowance	$ 1,028	$ (1,355)	$ 2,257
Valuation allowance - other, percent	17.50%	0.90%	(3.30%)
Enacted tax rate change - Canada	$ 0	$ 0	$ (2,452)
Enacted tax rate change - Canada, percent	0.00%	0.00%	3.50%
Non-deductible goodwill impairment	$ 0	$ 22,984	$ 4,689
Non-deductible goodwill impairment, percent	0.00%	(16.00%)	(6.80%)
Non-deductible compensation	$ 526	$ 310	$ 1,203
Nondeductible compensation - percent	9.00%	(0.20%)	(1.70%)
Unrealized intercompany foreign currency translation gain	$ (708)	$ 991	$ (1,451)
Unrealized intercompany unrealized foreign currency translation, percent	(12.10%)	(0.70%)	2.10%
Non-taxable Noralta representations and warranties claim	$ 0	$ (1,132)	$ 0
Non-taxable Noralta representations and warranties claim, percent	0	0.008	0
Other, net	$ 347	$ 556	$ 477
Other, net, percent	5.90%	(0.40%)	(0.70%)
Net income tax expense (benefit)	$ 3,376	$ (10,635)	$ (10,741)
Net income tax benefit, percent	57.50%	7.40%	15.50%

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

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):


	2021		2020		2019
Numerator:
Net loss attributable to Civeo common shareholders	$	(575)	$	(136,137)	$	(60,340)
Less: income allocated to participating securities	—		—		—
Basic net loss attributable to Civeo Corporation common shareholders	$	(575)	$	(136,137)	$	(60,340)
Add: undistributed income attributable to participating securities	—		—		—
Less: undistributed income reallocated to participating securities	—		—		—
Diluted net loss attributable to Civeo Corporation common shareholders	$	(575)	$	(136,137)	$	(60,340)

Denominator:
Weighted average shares outstanding - basic	14,232		14,129		13,921
Dilutive shares - share based awards	—		—		—
Weighted average shares outstanding - diluted	14,232		14,129		13,921

Basic net loss per share attributable to Civeo Corporation common shareholders (1)	$	(0.04)	$	(9.64)	$	(4.33)

Diluted net loss per share attributable to Civeo Corporation common shareholders (1)	$	(0.04)	$	(9.64)	$	(4.33)

(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, 2021, 2020 and 2019, we excluded from the

computation of diluted loss per share 0.2 million, 0.4 million and 0.5 million share-based awards, respectively, since the effect would have been anti-dilutive. Additionally, for the years ended December 31, 2021, 2020 and 2019, we excluded from the calculation the impact of converting the Preferred Shares into 2.5 million, 2.4 million and 2.4 million common shares, respectively, since the effect would have been anti-dilutive.