0001590584-24-000038 | 10-K | XBRL Viewer

Print Document View Excel Document

LEASES - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating Leases
2024	$ 4,341
2025	3,366
2026	2,721
2027	2,548
2028	1,238
Thereafter	554
Total lease payments	14,768
Less imputed interest	1,910
Total	12,858	$ 16,563
Finance Leases
2024	222
2025	222
2026	222
2027	216
2028	63
Thereafter	0
Total lease payments	945
Less imputed interest	168
Total	777	$ 0
Total
2024	4,563
2025	3,588
2026	2,943
2027	2,764
2028	1,301
Thereafter	554
Total lease payments	15,713
Less imputed interest	2,078
Total	$ 13,635

SHARE-BASED COMPENSATION - Performance Share Awards Activity (Details) - Performance Shares - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Number of Awards (in shares)
Nonvested shares at the beginning of period (in shares)	254,034	216,209	152,312
Granted (in shares)	86,454	123,385	130,649
Performance adjustment (in shares)	0	22,235	28,466
Vested (in shares)	0	(107,795)	(93,922)
Forfeited (in shares)	(8,487)	0	(1,296)
Nonvested shares at the end of period (in shares)	332,001	254,034	216,209
Weighted Average Grant Date Fair Value Per Share (in dollars per share)
Nonvested at beginning of period (in dollars per share)	$ 29.81	$ 33.97	$ 52.86
Granted (in dollars per share)	38.45	27.69	26.86
Performance adjustment (in dollars per share)	0	0	0
Vested (in dollars per share)	0	44.76	63.60
Forfeited (in dollars per share)	32.67	0	44.76
Nonvested at end of period (in dollars per share)	$ 32.37	$ 29.81	$ 33.97
Percentage of participant target performance share award		126.00%	150.00%

REVENUE - Disaggregation of Revenue (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Disaggregation of Revenue [Line Items]
Number of reportable segments \| segment	2
Total revenues	$ 700,805	$ 697,052	$ 594,463
Canada
Disaggregation of Revenue [Line Items]
Total revenues	352,795	395,997	321,378
Australia
Disaggregation of Revenue [Line Items]
Total revenues	336,763	278,252	251,074
Other
Disaggregation of Revenue [Line Items]
Total revenues	11,247	22,803	22,011
Accommodation revenues \| Canada
Disaggregation of Revenue [Line Items]
Total revenues	266,926	279,455	239,526
Accommodation revenues \| Australia
Disaggregation of Revenue [Line Items]
Total revenues	177,834	152,714	145,335
Mobile facility rental revenues \| Canada
Disaggregation of Revenue [Line Items]
Total revenues	61,899	96,400	62,856
Food service and other services revenues \| Canada
Disaggregation of Revenue [Line Items]
Total revenues	23,970	20,142	18,996
Food service and other services revenues \| Australia
Disaggregation of Revenue [Line Items]
Total revenues	$ 158,929	$ 125,538	$ 105,739

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2023
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 raw materials and supplies and materials for the operation of remote accommodation facilities. Inventories also include food, raw materials, labor, subcontractor charges 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. 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 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, asset groups are reviewed 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 next 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 future 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 2023, 2022 and 2021 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, 2023 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. 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, 2023, 2022 and 2021, 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, 2023, 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. 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 and represent 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, 2023, 2022, and 2021, we recognized approximately $0.5 million, $0.1 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 For the majority of our operations and contracts, 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. 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 range from several months to multiple 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, 2023, each of Suncor Energy and Fortescue Metals Group Ltd. accounted for more than 10% of our revenues. For the year ended December 31, 2022, 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, 2021, each of Suncor Energy, Imperial Oil and Fortescue Metals Group Ltd. 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 key employees and non-employee directors participate. We measure the cost of service-based equity awards (typically restricted share awards and deferred share awards) based on the grant-date fair value of the award. The grant-date 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 or non-employee director is required to provide service in exchange for the awards, usually the vesting period. We also grant performance share awards. For awards granted in 2023 and 2022, awards are earned in amounts between 0% and 200% of the participant’s target performance share award, based on (i) the payout percentage associated with Civeo’s relative total shareholder return (TSR) rank among a peer group of other companies and (ii) the payout percentage associated with Civeo's cumulative operating cash flow over the performance period relative to a preset target. Awards granted in 2021 are earned in amounts between 0% and 200% of the participant’s target performance share award, based on (i) the payout percentage associated with Civeo’s relative TSR rank among a peer group of other companies and (ii) the payout percentage associated with Civeo's cumulative free cash flow over the performance period relative to a preset target. 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 operating cash flow and 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 of such performance conditions. The resulting costs for each portion of the award are 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 share units. 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 phantom share units are entitled to a lump sum cash payment equal to the fair market value of a common share on the vesting 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. Guarantees Substantially all of our Canadian and United States (U.S.) subsidiaries are guarantors under our Credit Agreement. See Note 11 – Debt for further discussion. 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, 2023, the maximum potential amount of future payments that we could be required to make under these guarantee agreements (including letters of credit) was approximately $1.9 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 (U.S. GAAP) requires the use of estimates and assumptions by management in determining the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Examples of a few such estimates include estimates of the amount and timing of costs to be incurred for AROs, any valuation allowance recorded on net deferred tax assets, 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, insurance claims, contract claims and obligations. Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (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 November 2023, the FASB issued Accounting Standards Update (ASU) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, which updates reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. The amendments are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied retrospectively to all prior periods presented in the financial statements. We are currently evaluating this ASU to determine its impact on our disclosures. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, which enhances effective tax rate reconciliation disclosure requirements and provides clarity to the disclosures of income taxes paid, income before taxes and provision for income taxes. The amendments are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The amendments in this update should be applied on a prospective basis. Retrospective application is permitted. We are currently evaluating this ASU to determine its impact on our disclosures.

SEGMENT AND RELATED INFORMATION (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Financial information by business segment for each of the three years ended December 31, 2023, 2022 and 2021 is summarized in the following table (in thousands):


	Total Revenues		Depreciation and amortization		Operating (loss) income		Capital expenditures		Total assets
2023
Canada	$	352,795	$	46,319	$	20,187	$	9,216	$	769,543
Australia	336,763		28,696		36,317		21,632		205,702
Corporate, other and eliminations	11,247		127		(17,017)		785		(427,183)
Total	$	700,805	$	75,142	$	39,487	$	31,633	$	548,062

2022
Canada	$	395,997	$	55,503	$	17,023	$	11,588	$	726,640
Australia	278,252		30,521		14,731		12,757		198,795
Corporate, other and eliminations	22,803		1,190		(14,736)		1,076		(359,251)
Total	$	697,052	$	87,214	$	17,018	$	25,421	$	566,184

2021
Canada	$	321,378	$	47,253	$	12,816	$	6,747	$	764,519
Australia	251,074		33,110		7,303		6,823		226,318
Corporate, other and eliminations	22,011		2,738		(14,067)		2,001		(318,103)
Total	$	594,463	$	83,101	$	6,052	$	15,571	$	672,734

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, 2023, 2022 and 2021, is summarized below (in thousands). Other revenues 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		Other		Total
2023
Revenues from unaffiliated customers	$	352,795	$	336,763	$	11,247	$	700,805
Long-lived assets	230,940		137,789		4,087		372,816

2022
Revenues from unaffiliated customers	$	395,997	$	278,252	$	22,803	$	697,052
Long-lived assets	263,112		144,489		5,034		412,635

2021
Revenues from unaffiliated customers	$	321,378	$	251,074	$	22,011	$	594,463
Long-lived assets	325,160		177,607		12,774		515,541

SUPPLEMENTAL CASH FLOW INFORMATION - Cash Paid for Interest and Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Supplemental Cash Flow Information [Abstract]
Interest (net of amounts capitalized)	$ 10,250	$ 9,226	$ 9,991
Net income taxes paid, net of refunds received	$ 251	$ 220	$ 334

PREFERRED SHARES - Dividends (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
In-kind dividends	$ 0	$ 1,706	$ 1,925
Cash dividend on repurchased preferred shares		65	0
Total preferred dividends		$ 1,771	$ 1,925

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION (Details)	12 Months Ended
	Dec. 31, 2023 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	2

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Net operating loss	$ 54,274	$ 75,326
Employee benefits	1,796	2,810
Deductible goodwill and other intangibles	48,201	48,432
Land	3,461	3,159
Other reserves	7,890	7,439
Deferred revenue	2,381	0
Operating lease liabilities	3,199	4,133
Capital losses	2,036	1,930
Other	1,770	2,303
Deferred tax assets	125,008	145,532
Valuation allowance	(78,769)	(82,905)
Deferred tax assets, net	46,239	62,627
Deferred tax liabilities:
Intangibles	(18,949)	(20,098)
Depreciation	(36,048)	(43,394)
Operating lease right-of-use assets	(3,045)	(3,913)
Deferred tax liabilities	(58,042)	(67,405)
Net deferred tax liabilities, net	$ (11,803)	$ (4,778)

SHARE-BASED COMPENSATION - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of common shares authorized (in shares)	3,000,000
Allocated share-based compensation expense	$ 11,800,000	$ 14,900,000	$ 9,900,000
Income tax benefit for share based compensation arrangements	$ 600,000	$ 800,000	$ 500,000
Share-based compensation arrangement by share-based payment award, number of shares underlying each award (in shares)	1
Share-based compensation arrangement by share-based payment award, options, grants in period, gross (in shares)	0	0	0
Share-based payment arrangement, option, exercise price range, shares outstanding (in shares)	287
Weighted average exercise price (in dollars per share)	$ 262.44
Options exercised (in shares)	0	0	0
Total intrinsic value of options exercised	$ 0	$ 0	$ 0
Tax benefits from options exercised	0	0	0
Share-based payment arrangement, nonvested award, option, cost not yet recognized, amount	0
Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liability for phantom share awards	5,700,000
Phantom share cash payments	10,400,000	$ 6,000,000.0	$ 3,100,000
Unrecognized compensation cost	$ 6,500,000
Weighted average recognition period for unrecognized shares	1 year 7 months 6 days
Weighted average grant date fair value per share (in dollars per share)	$ 31.05	$ 21.97	$ 19.80
Vesting period	3 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 3,400,000	$ 2,600,000	$ 2,400,000
Unrecognized compensation cost	$ 3,800,000
Weighted average recognition period for unrecognized shares	1 year 8 months 12 days
Weighted average grant date fair value per share (in dollars per share)	$ 38.45	$ 27.69	$ 26.86
Vesting period	3 years
Percentage of participant target performance share award		126.00%	150.00%
Performance Shares \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of participant target performance share award	0.00%		0.00%
Performance Shares \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of participant target performance share award	200.00%		200.00%
Restricted Stock and Deferred Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average recognition period for unrecognized shares	4 months 24 days
Weighted average grant date fair value per share (in dollars per share)	$ 21.02	$ 25.64	$ 17.58
Fair value of restricted share and deferred share awards vested	$ 900,000	$ 2,100,000	$ 1,500,000
Unrecognized compensation cost related to restricted share and deferred share awards	$ 400,000

GOODWILL AND OTHER INTANGIBLE ASSETS - Amortization Schedule (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 5,616
2025	5,616
2026	5,616
2027	5,616
2028	5,616
Thereafter	49,891
Total	$ 77,971

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2023
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.

DETAILS OF SELECTED BALANCE SHEET ACCOUNTS - Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Inventories:
Finished goods and purchased products	$ 5,648	$ 5,538
Raw materials	1,334	1,369
Total inventories	$ 6,982	$ 6,907

GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Weighted average remaining amortization period (in years)	14 years 1 month 6 days	15 years
Amortization expense	$ 5.8	$ 5.9	$ 6.0

ACCUMULATED OTHER COMPREHENSIVE LOSS - Narrative (Details) $ in Thousands, $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CAD ($)	Dec. 31, 2023 AUD ($)	Dec. 31, 2022 USD ($)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Decrease in comprehensive loss due to foreign currency exchange rate fluctuations	$ 4,500
Accumulated other comprehensive loss	$ 380,715			$ 385,187
Foreign functional currency net assets		$ 234	$ 205

- Definition

Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.

+ References + Details

IMPAIRMENT CHARGES - Summary of Pre-tax Impairment Charges Included in Impairment Expense (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Impaired Long-Lived Assets Held and Used [Line Items]
Long-lived assets	$ 1,395	$ 5,721	$ 7,935
Total	1,395	5,721	7,935	$ 1,395	$ 5,721	$ 7,935
U.S.
Impaired Long-Lived Assets Held and Used [Line Items]
Long-lived assets	1,395	1,913
Total	1,395	1,913
Australia
Impaired Long-Lived Assets Held and Used [Line Items]
Long-lived assets	$ 1,400	3,808	7,935
Total		$ 3,808	$ 7,935

AUDIT INFORMATION	12 Months Ended
AUDIT INFORMATION	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Firm ID	42
Auditor Location	Houston, Texas

DETAILS OF SELECTED BALANCE SHEET ACCOUNTS - Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accrued liabilities:
Accrued compensation	$ 33,854	$ 34,358
Accrued taxes, other than income taxes	3,997	2,873
Other	2,672	1,980
Total accrued liabilities	$ 40,523	$ 39,211

LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Supplemental balance sheet information

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


	December 31, 2023			December 31, 2022
Operating leases
Operating lease right-of-use assets	$	12,286		$	15,722

Other current liabilities	$	3,594		$	3,792
Operating lease liabilities	9,264			12,771
Total operating lease liabilities	$	12,858		$	16,563

Finance leases
Other noncurrent assets	$	760		$	—

Other current liabilities	$	164		$	—
Other noncurrent liabilities	613			—
Total finance lease liabilities	$	777		$	—

Weighted average remaining lease term
Operating leases	4.1 years			4.8 years
Finance leases	4.3 years			—
Weighted average discount rate
Operating leases	5.5		%	5.4		%
Finance leases	6.6		%	—		%

Operating lease maturity schedule

Maturities of lease liabilities at December 31, 2023, were as follows (in thousands):


Year Ending December 31,	Operating Leases		Finance Leases		Total
2024	$	4,341	$	222	$	4,563
2025	3,366		222		3,588
2026	2,721		222		2,943
2027	2,548		216		2,764
2028	1,238		63		1,301
Thereafter	554		—		554
Total lease payments	14,768		945		15,713
Less imputed interest	1,910		168		2,078
Total	$	12,858	$	777	$	13,635

Finance Lease, Liability, to be Paid, Maturity

Maturities of lease liabilities at December 31, 2023, were as follows (in thousands):


Year Ending December 31,	Operating Leases		Finance Leases		Total
2024	$	4,341	$	222	$	4,563
2025	3,366		222		3,588
2026	2,721		222		2,943
2027	2,548		216		2,764
2028	1,238		63		1,301
Thereafter	554		—		554
Total lease payments	14,768		945		15,713
Less imputed interest	1,910		168		2,078
Total	$	12,858	$	777	$	13,635

INCOME TAXES - Components of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
Canada	$ 142	$ 31	$ 141
Foreign	3,685	194	165
Total	3,827	225	306
Deferred:
Canada	0	0	0
Foreign	6,806	4,177	3,070
Total	6,806	4,177	3,070
Net income tax expense (benefit)	$ 10,633	$ 4,402	$ 3,376

- Definition

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

+ References + Details

EARNINGS PER SHARE - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Oct. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Repurchases of preferred shares		$ 0	$ 30,553	$ 0
Preferred shares repurchased			(30,553)
Accumulated Deficit
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Preferred shares repurchased			$ (5,189)
Noralta \| Preferred Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock repurchased during period, shares (in shares)	3,617
Repurchases of preferred shares	$ 30,600
Preferred shares repurchased	$ (5,200)

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2023

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 years ended December 31, 2023, 2022 and 2021 (in thousands, except per share amounts):


	2023		2022		2021
Numerator:
Net income attributable to Civeo common shareholders, before allocation of earnings to participating securities	$	30,157	$	2,226	$	(575)
Less: premium paid for repurchase of preferred shares	—		(5,189)		—
Less: income allocated to participating securities	—		—		—
Net income (loss) attributable to Civeo Corporation common shareholders, after allocation of earnings to participating securities	$	30,157	$	(2,963)	$	(575)
Add: undistributed income attributable to participating securities	—		—		—
Less: undistributed income reallocated to participating securities	—		—		—
Diluted net income (loss) attributable to Civeo Corporation common shareholders, after reallocation adjustment for participating securities	$	30,157	$	(2,963)	$	(575)

Denominator:
Weighted average shares outstanding - basic	14,906		14,002		14,232
Dilutive shares - share-based awards	107		—		—
Weighted average shares outstanding - diluted	15,013		14,002		14,232

Basic net income (loss) per share attributable to Civeo Corporation common shareholders (1)	$	2.02	$	(0.21)	$	(0.04)

Diluted net income (loss) per share attributable to Civeo Corporation common shareholders (1)	$	2.01	$	(0.21)	$	(0.04)

(1)Computations may reflect rounding adjustments.

Shares Excluded From Weighted-Average Common Shares Outstanding, Anti-Dilutive

The following common share equivalents have been excluded from the calculation of weighted-average common shares outstanding because the effect is anti-dilutive for the years ended December 31, 2023, 2022 and 2021 (in millions of shares):


	2023	2022	2021
Share-based awards (1)	—	0.2	0.2
Preferred shares	—	2,240	2,461

(1)Share-based awards for the year ended December 31, 2023 totaled fewer than 0.1 million shares.

VALUATION ACCOUNTS (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023:
Allowance for credit losses on accounts receivable	$	299	$	79	$	(181)	$	2	$	199
Valuation allowance for deferred tax assets	82,905		(2,556)		(1,767)		187		78,769

Year Ended December 31, 2022:
Allowance for credit losses on accounts receivable	$	361	$	115	$	(162)	$	(15)	$	299
Valuation allowance for deferred tax assets	85,351		153		1,178		(3,777)		82,905

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

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	46,000,000	46,000,000
Common stock, shares issued (in shares)	15,046,756	15,584,176
Common stock, shares outstanding (in shares)	14,680,081	15,217,501
Treasury shares (in shares)	366,675	366,675

SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Nonvested Share Activity

The following table presents the changes in phantom share unit awards outstanding and related information for our employees during the years ended December 31, 2023, 2022 and 2021:


			Number of Awards
Nonvested shares at December 31, 2020			458,175
Granted			354,535
Vested			(163,499)
Forfeited			(27,081)
Nonvested shares at December 31, 2021			622,130
Granted			335,098
Vested			(270,382)
Forfeited			(27,558)
Nonvested shares at December 31, 2022			659,288
Granted			229,845
Vested			(335,178)
Forfeited			(33,394)
Nonvested shares at December 31, 2023			520,561

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


	2023		2022		2021
Risk-free weighted interest rate	4.4	%	1.7	%	0.2	%
Expected volatility	73.0	%	78.0	%	83.0	%
Initial TSR	4.1	%	14.1	%	27.1	%

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, 2023, 2022 and 2021:


	Number of Awards	Weighted Average Grant Date Fair Value Per Share
Nonvested shares at December 31, 2020	152,312	$	52.86
Granted	130,649	26.86
Performance adjustment (1)	28,466	—
Vested	(93,922)	63.60
Forfeited	(1,296)	44.76
Nonvested shares at December 31, 2021	216,209	$	33.97
Granted	123,385	27.69
Performance adjustment (2)	22,235	—
Vested	(107,795)	44.76
Forfeited	—	—
Nonvested shares at December 31, 2022	254,034	$	29.81
Granted	86,454	38.45
Performance adjustment (3)	—	—
Vested (3)	—	—
Forfeited	(8,487)	32.67
Nonvested shares at December 31, 2023	332,001	$	32.37

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

(2)Related to 2019 performance share awards that vested in 2022, which were paid out at 126% based on Civeo's TSR rank.

(3)No performance share awards vested in 2023.

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

The following table presents the changes in restricted share awards, restricted share units and deferred share awards outstanding and related information for our employees and non-employee directors during the years ended December 31, 2023, 2022 and 2021:


	Number of Awards/Units	Weighted Average Grant Date Fair Value Per Share
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
Granted	40,465	25.64
Vested	(86,290)	21.83

Nonvested shares at December 31, 2022	39,032	$	25.62
Granted	50,336	21.02
Vested	(39,770)	25.53

Nonvested shares at December 31, 2023	49,598	$	21.02

SHARE REPURCHASE PROGRAMS AND DIVIDENDS

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

SHARE REPURCHASE PROGRAMS AND DIVIDENDS

Share Repurchase Programs

In August 2023, 2022 and 2021, our Board authorized common share repurchase programs to repurchase up to 5.0% of our total common shares which were issued and outstanding, or approximately 742,000, 685,000 and 715,000 common shares, respectively, over a twelve month period.

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 have funded, and intend to continue to fund, repurchases through cash on hand and cash generated from operations. The common shares repurchased under the share repurchase programs 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.

The following table summarizes our common share repurchases pursuant to our share repurchase programs (in thousands, except per share data).


	2023		2022		2021
Shares repurchased	564		124		217
Average price paid per share	$	20.60	$	28.54	$	21.38
Dollar-value of shares repurchased	$	11,634	$	3,540	$	4,649

In addition to the shares repurchased pursuant to our share repurchase programs, we repurchased 374,753 common shares from a shareholder for approximately $10.7 million during the three months ended September 30, 2022.

Dividends

Our Board declared a quarterly dividend on October 27, 2023 of $0.25 per common share to shareholders of record as of close of business on November 27, 2023. The total cash payment of $3.7 million was paid on December 18, 2023. Our Board declared a quarterly dividend on September 5, 2023 of $0.25 per common share to shareholders of record as of close of business on September 15, 2023. The total cash payment of $3.7 million was paid on September 29, 2023. The dividends are eligible dividends pursuant to the Income Tax Act (Canada).

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Preferred Class A	Preferred Shares	Preferred Shares Preferred Class A	Preferred Shares Conversion Of Convertible Preferred Stock	Common Shares	Additional Paid-in Capital	Additional Paid-in Capital Conversion Of Convertible Preferred Stock	Accumulated Deficit	Accumulated Deficit Preferred Class A	Treasury Shares	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interest
Beginning balance at Dec. 31, 2020	$ 375,357		$ 60,016			$ 0	$ 1,578,315		$ (907,727)		$ (6,930)	$ (348,989)	$ 672
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,497								1,350				1,147
Currency translation adjustment	(12,936)											(12,894)	(42)
Dividends paid	(165)												(165)
Paid-in-kind dividends attributable to Class A preferred shares	(1,925)	$ 0		$ 1,925						$ (1,925)
Common shares repurchased	(4,649)								(4,649)
Share-based compensation	3,007						4,127				(1,120)
Ending balance at Dec. 31, 2021	363,111		$ 61,941			$ 0	1,582,442		(912,951)		(8,050)	(361,883)	1,612
Preferred stock, beginning balance (in shares) at Dec. 31, 2020			9,042
Common stock, beginning balance (in shares) at Dec. 31, 2020						14,215,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation (in shares)			0			113,000
Shares repurchased (in shares)			0			(217,000)
Preferred stock, ending balance (in shares) at Dec. 31, 2021			9,042
Common stock, ending balance (in shares) at Dec. 31, 2021						14,111,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	6,330								3,997				2,333
Currency translation adjustment	(23,486)											(23,304)	(182)
Dividends paid	(266)								(65)				(201)
Paid-in-kind dividends attributable to Class A preferred shares	(1,706)	$ 0		$ 1,706						$ (1,706)
Preferred shares repurchased	(30,553)		$ (25,364)						(5,189)
Preferred shares converted to common shares					$ (38,283)			$ 38,283
Common shares repurchased	(14,209)								(14,209)
Share-based compensation	2,774						3,787				(1,013)
Ending balance at Dec. 31, 2022	$ 303,701		$ 0			$ 0	1,624,512		(930,123)		(9,063)	(385,187)	3,562
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation (in shares)			0			100,000
Shares repurchased (in shares)			(3,617)			(498,000)
Preferred shares converted to common shares (in shares)			(5,425)			1,505,000
Preferred stock, ending balance (in shares) at Dec. 31, 2022			0
Common stock, ending balance (in shares) at Dec. 31, 2022	15,217,501					15,218,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 29,730								30,157				(427)
Currency translation adjustment	4,532											4,472	60
Dividends paid	(7,751)								(7,423)				(328)
Paid-in-kind dividends attributable to Class A preferred shares	0
Common shares repurchased	(11,634)								(11,634)
Share-based compensation	4,460						4,460
Ending balance at Dec. 31, 2023	$ 323,038		$ 0			$ 0	$ 1,628,972		$ (919,023)		$ (9,063)	$ (380,715)	$ 2,867
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation (in shares)			0			26,000
Shares repurchased (in shares)			0			(564,000)
Preferred stock, ending balance (in shares) at Dec. 31, 2023			0
Common stock, ending balance (in shares) at Dec. 31, 2023	14,680,081					14,680,000

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 29,730	$ 6,330	$ 2,497
Other comprehensive income (loss), net of taxes:
Foreign currency translation adjustment, net of zero taxes	4,532	(23,486)	(12,936)
Total other comprehensive income (loss), net of taxes	4,532	(23,486)	(12,936)
Comprehensive income (loss)	34,262	(17,156)	(10,439)
Less: Comprehensive income (loss) attributable to noncontrolling interest	(367)	2,151	1,105
Comprehensive income (loss) attributable to Civeo Corporation	$ 34,629	$ (19,307)	$ (11,544)

- 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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-SubTopic 10
-Topic 505
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481674/830-30-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-17

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-4

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-5

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481694/830-30-45-20

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-SubTopic 10
-Topic 220
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482739/220-10-55-15

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

+ Details

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-11

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 205
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480767/946-205-45-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(16))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-19

Reference 16: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 29: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 33: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4J
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481175/810-10-55-4J

Reference 34: http://www.xbrl.org/2003/role/exampleRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 4K
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481175/810-10-55-4K

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-2

Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-1A

Reference 39: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-1A

+ Details

INCOME TAXES - Consolidated Pre-tax Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Canada operations	$ 5,524	$ 3,040	$ 2,498
Foreign operations	34,839	7,692	3,375
Income before income taxes	$ 40,363	$ 10,732	$ 5,873

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 25
-Paragraph 1
-SubTopic 20
-Topic 940
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

SHARE-BASED COMPENSATION

12 Months Ended

Dec. 31, 2023

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 and grant awards of options, awards of restricted shares, performance awards, phantom share units and dividend equivalents, awards of deferred shares, and share payments to our employees and non-employee directors. No more than 3.0 million Civeo common shares are authorized to be issued under the Civeo Plan.

Share-based compensation expense recognized in the years ended December 31, 2023, 2022 and 2021 totaled $11.8 million, $14.9 million and $9.9 million, respectively. Share-based compensation expense is reflected in Selling, general and administrative 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 $0.6 million, $0.8 million and $0.5 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Phantom Share Units

We grant phantom share unit awards, which vest a third per year over a three year period. Each phantom share unit 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 in respect of each phantom share unit then vesting. 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 unit awards outstanding and related information for our employees during the years ended December 31, 2023, 2022 and 2021:


			Number of Awards
Nonvested shares at December 31, 2020			458,175
Granted			354,535
Vested			(163,499)
Forfeited			(27,081)
Nonvested shares at December 31, 2021			622,130
Granted			335,098
Vested			(270,382)
Forfeited			(27,558)
Nonvested shares at December 31, 2022			659,288
Granted			229,845
Vested			(335,178)
Forfeited			(33,394)
Nonvested shares at December 31, 2023			520,561

At December 31, 2023, the balance of the liability for the phantom share awards was $5.7 million. For the years ended December 31, 2023, 2022 and 2021, we made phantom share cash payments of $10.4 million, $6.0 million and $3.1 million, respectively. At December 31, 2023, unrecognized compensation cost related to phantom shares was $6.5 million, as remeasured at December 31, 2023, which is expected to be recognized over a weighted average period of 1.6 years. The weighted average grant-date fair value per share of phantom shares granted during the years ended December 31, 2023, 2022 and 2021 was $31.05, $21.97 and $19.80, respectively.

Performance Share Awards

We grant performance share awards, which cliff vest after three years subject to attainment of applicable performance goals. Awards granted in 2023 and 2022 will be earned in amounts between 0% and 200% of the participant’s target performance share award, based equally on (i) the payout percentage associated with Civeo’s relative TSR rank among a peer group of other companies and (ii) the payout percentage associated with Civeo's cumulative operating cash flow over the performance period relative to a preset target. Awards granted in 2021 are earned in amounts between 0% and 200% of the participant’s target performance share award, based on (i) the payout percentage associated with Civeo’s relative TSR rank among a peer group of other companies and (ii) the payout percentage associated with Civeo's cumulative free cash flow over the performance period relative to a preset target. The grant-date fair value of the portion of the performance awards tied to

cumulative operating cash flow and free cash flow is based on target achievement and the closing market price of our common shares on the date of grant. We evaluate the probability of achieving the performance goals 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 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 did not pay dividends when the awards were granted. 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 award. The initial TSR performance was based on historical performance of our common shares and the peer group’s common shares.


	2023		2022		2021
Risk-free weighted interest rate	4.4	%	1.7	%	0.2	%
Expected volatility	73.0	%	78.0	%	83.0	%
Initial TSR	4.1	%	14.1	%	27.1	%

The following table presents the changes in performance share awards outstanding and related information for our employees during the year ended December 31, 2023, 2022 and 2021:


	Number of Awards	Weighted Average Grant Date Fair Value Per Share
Nonvested shares at December 31, 2020	152,312	$	52.86
Granted	130,649	26.86
Performance adjustment (1)	28,466	—
Vested	(93,922)	63.60
Forfeited	(1,296)	44.76
Nonvested shares at December 31, 2021	216,209	$	33.97
Granted	123,385	27.69
Performance adjustment (2)	22,235	—
Vested	(107,795)	44.76
Forfeited	—	—
Nonvested shares at December 31, 2022	254,034	$	29.81
Granted	86,454	38.45
Performance adjustment (3)	—	—
Vested (3)	—	—
Forfeited	(8,487)	32.67
Nonvested shares at December 31, 2023	332,001	$	32.37

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

(2)Related to 2019 performance share awards that vested in 2022, which were paid out at 126% based on Civeo's TSR rank.

(3)No performance share awards vested in 2023.

During the years ended December 31, 2023, 2022 and 2021, we recognized compensation expense associated with performance share awards totaling $3.4 million, $2.6 million and $2.4 million, respectively. At December 31, 2023, unrecognized compensation cost related to performance share awards was $3.8 million, which is expected to be recognized over a weighted average period of 1.7 years.

Restricted Share Awards/ Restricted Share Units/ Deferred Share Awards


	Number of Awards/Units	Weighted Average Grant Date Fair Value Per Share
Nonvested shares at December 31, 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
Granted	40,465	25.64
Vested	(86,290)	21.83

Nonvested shares at December 31, 2022	39,032	$	25.62
Granted	50,336	21.02
Vested	(39,770)	25.53

Nonvested shares at December 31, 2023	49,598	$	21.02

The weighted average grant-date fair value per share for restricted share awards, restricted share units and deferred share awards granted during 2023, 2022 and 2021 was $21.02, $25.64 and $17.58, respectively. The total fair value of restricted share awards, restricted share units and deferred share awards vested during 2023, 2022 and 2021 was $0.9 million, $2.1 million and $1.5 million, respectively. At December 31, 2023, unrecognized compensation cost related to restricted share awards, restricted share units and deferred share awards was $0.4 million, which is expected to be recognized over a weighted average period of 0.4 years. In addition, at December 31, 2023, all nonvested shares were related to non-employee directors.

Options to Purchase Common Shares

No options were awarded or exercised in 2023, 2022 or 2021. We had 287 outstanding options at December 31, 2023 that expire in February 2024 with a weighted average exercise price per share of $262.44.

As no options were exercised in the last three years, the total intrinsic value of options exercised by our employees during 2023, 2022 and 2021 was zero. Additionally, the tax benefits realized for the tax deduction from options exercised during 2023, 2022 and 2021 totaled zero.

At December 31, 2023, unrecognized compensation cost related to options was zero.

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income	$ 29,730	$ 6,330	$ 2,497
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	75,142	87,214	83,101
Impairment charges	1,395	5,721	7,935
Loss on extinguishment of debt	0	0	416
Deferred income tax expense	6,806	4,177	3,070
Non-cash compensation charge	4,460	3,787	4,127
Gain on disposals of assets	(21,196)	(4,917)	(6,188)
Provision for credit losses, net of recoveries	135	162	141
Other, net	1,660	3,223	2,200
Changes in operating assets and liabilities:
Accounts receivable	(22,311)	(14,447)	(28,131)
Inventories	5	(1,845)	(526)
Accounts payable and accrued liabilities	7,438	12,323	15,435
Taxes payable	3,576	5	(28)
Other current assets and liabilities, net	9,725	(9,960)	4,485
Net cash flows provided by operating activities	96,565	91,773	88,534
Cash flows from investing activities:
Capital expenditures	(31,633)	(25,421)	(15,571)
Proceeds from disposition of property, plant and equipment	16,740	16,286	14,306
Other, net	372	190	559
Net cash flows used in investing activities	(14,521)	(8,945)	(706)
Cash flows from financing activities:
Revolving credit borrowings	210,584	289,705	397,952
Revolving credit repayments	(248,430)	(293,079)	(348,795)
Term loan repayments	(29,899)	(30,442)	(125,483)
Dividends paid	(7,423)	0	0
Debt issuance costs	0	0	(4,412)
Repurchases of common shares	(11,634)	(14,209)	(4,649)
Repurchases of preferred shares	0	(30,553)	0
Other, net	0	(1,078)	(1,120)
Net cash flows used in financing activities	(86,802)	(79,656)	(86,507)
Effect of exchange rate changes on cash	127	(1,500)	(1,194)
Net change in cash and cash equivalents	(4,631)	1,672	127
Cash and cash equivalents, beginning of period	7,954	6,282	6,155
Cash and cash equivalents, end of period	3,323	7,954	6,282
Non-cash investing activities:
Capital expenditure additions accrued at end of period	510	511	575
Non-cash financing activities:
Preferred dividends paid-in-kind	$ 0	$ 1,706	$ 1,925

DETAILS OF SELECTED BALANCE SHEET ACCOUNTS - Deferred Revenue (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Contract liabilities (Deferred revenue):
Current contract liabilities	$ 4,849	$ 991
Noncurrent contract liabilities	8,068	0
Total contract liabilities (Deferred revenue)	$ 12,917	$ 991

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

EARNINGS PER SHARE

For the year ended December 31, 2023, we calculated our basic earnings per share by dividing net income (loss) attributable to common shareholders, before allocation of earnings to participating earnings by the weighted average number of common shares outstanding. For diluted earnings per share, the basic shares outstanding are adjusted by adding all potentially dilutive securities.

For the years ended December 31 2022 and 2021, a period during which we had participating securities in the form of Class A preferred shares, we used the two-class method to calculate basic and diluted earnings per share. The two-class method requires a proportional share of net income to be allocated between common shares and participating securities. The proportional share to be allocated to participating securities is determined by dividing total weighted average participating securities by the sum of total weighted average common shares and participating securities.

Basic earnings per share is computed under the two-class method by dividing the net income (loss) attributable to common shareholders, after allocation of earnings to participating earnings by the weighted average number of common shares outstanding during the period. Net income attributable to common shareholders, after allocation of earnings to participating earnings represents our net income reduced by an allocation of current period earnings to participating securities as described above. No such adjustment is made during periods with a net loss, as the adjustment would be anti-dilutive.

Diluted earnings per share is computed under the two-class method by dividing diluted net income (loss) attributable to common shareholders, after reallocation adjustment for participating securities by the weighted average number of common shares outstanding, plus, for periods with net income attributable to common stockholders, the potential dilutive effects of share-based awards. In addition, we calculate the potential dilutive effect of any outstanding dilutive security under both the two-class method and the “if-converted” method, and we report the more dilutive of the methods as our diluted earnings per share. We also apply the treasury stock method with respect to certain share-based awards in the calculation of diluted earnings per share, if dilutive.

On October 30, 2022, we repurchased 3,617 Series A preferred shares from the holders for approximately $30.6 million. The repurchase premium of $5.2 million was treated as a reduction to the numerator of net income (loss) attributable to Civeo common shareholders utilized in the calculation of earnings per share for the year ended December 31, 2022.

The calculation of earnings per share attributable to Civeo common shareholders is presented below for the years ended December 31, 2023, 2022 and 2021 (in thousands, except per share amounts):


	2023		2022		2021
Numerator:
Net income attributable to Civeo common shareholders, before allocation of earnings to participating securities	$	30,157	$	2,226	$	(575)
Less: premium paid for repurchase of preferred shares	—		(5,189)		—
Less: income allocated to participating securities	—		—		—
Net income (loss) attributable to Civeo Corporation common shareholders, after allocation of earnings to participating securities	$	30,157	$	(2,963)	$	(575)
Add: undistributed income attributable to participating securities	—		—		—
Less: undistributed income reallocated to participating securities	—		—		—
Diluted net income (loss) attributable to Civeo Corporation common shareholders, after reallocation adjustment for participating securities	$	30,157	$	(2,963)	$	(575)

Denominator:
Weighted average shares outstanding - basic	14,906		14,002		14,232
Dilutive shares - share-based awards	107		—		—
Weighted average shares outstanding - diluted	15,013		14,002		14,232

Basic net income (loss) per share attributable to Civeo Corporation common shareholders (1)	$	2.02	$	(0.21)	$	(0.04)

Diluted net income (loss) per share attributable to Civeo Corporation common shareholders (1)	$	2.01	$	(0.21)	$	(0.04)

(1)Computations may reflect rounding adjustments.


	2023	2022	2021
Share-based awards (1)	—	0.2	0.2
Preferred shares	—	2,240	2,461

(1)Share-based awards for the year ended December 31, 2023 totaled fewer than 0.1 million shares.

SHARE-BASED COMPENSATION - Valuation Assumptions of Performance Share Awards (Details) - Performance Shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	73.00%	78.00%	83.00%
Initial TSR	4.10%	14.10%	27.10%
Weighted Average
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free weighted interest rate	4.40%	1.70%	0.20%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

SUPPLEMENTAL CASH FLOW INFORMATION

12 Months Ended

Dec. 31, 2023

Supplemental Cash Flow Information [Abstract]

SUPPLEMENTAL CASH FLOW INFORMATION

Cash paid during the years ended December 31, 2023, 2022 and 2021 for interest and income taxes was as follows (in thousands):


	2023		2022		2021
Interest (net of amounts capitalized)	$	10,250	$	9,226	$	9,991
Net income taxes paid, net of refunds received	251		220		334

DEBT - Credit Agreement (Details) $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) lender	Dec. 31, 2023 CAD ($) lender	Dec. 31, 2023 AUD ($) lender	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Interest coverage ratio	3.00
Maximum leverage ratio	3.50
Maximum net leverage ratio	3.00
Maximum senior secured ratio	2.00
Long-term debt	$ 65,554,000			$ 130,953,000
Credit Agreement
Debt Instrument [Line Items]
Number of lenders \| lender	7	7	7
Credit Agreement \| Minimum
Debt Instrument [Line Items]
Lender commitments	$ 16,100,000
Credit Agreement \| Maximum
Debt Instrument [Line Items]
Lender commitments	37,100,000
Revolving Credit Facility \| Credit Agreement
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity	200,000,000
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	10,000,000
Letters of credit outstanding	300,000
Revolving Credit Facility, Canadian Subsidiaries \| Credit Agreement
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity	155,000,000
Letters of credit outstanding	0
Revolving Credit Facility, Australian Subsidiaries \| Credit Agreement
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity	35,000,000
Letters of credit outstanding	$ 1,100,000
Bank Guarantee Facility
Debt Instrument [Line Items]
Long-term debt			$ 0.8
Secured Overnight Financing Rate (SOFR) \| Line of Credit \| Minimum \| United States of America, Dollars
Debt Instrument [Line Items]
Interest rate spread	3.00%
Secured Overnight Financing Rate (SOFR) \| 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%

IMPAIRMENT CHARGES (Tables)

12 Months Ended

Dec. 31, 2023

Asset Impairment Charges [Abstract]

Asset Impairment Charges

The following summarizes pre-tax impairment charges recorded during 2023, which are included in Impairment expense in our consolidated statements of operations (in thousands):


	U.S.		Total
Quarter ended December 31, 2023
Long-lived assets	$	1,395	$	1,395
Total	$	1,395	$	1,395

The following summarizes pre-tax impairment charges recorded during 2022, which are included in Impairment expense in our consolidated statements of operations (in thousands):


	Australia		U.S.		Total
Quarter ended December 31, 2022
Long-lived assets	$	3,808	$	1,913	$	5,721
Total	$	3,808	$	1,913	$	5,721

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


	Australia		Total
Quarter ended June 30, 2021
Long-lived assets	$	7,935	$	7,935
Total	$	7,935	$	7,935

ASSET RETIREMENT OBLIGATIONS - Change in Asset Retirement Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning balance	$ 18,113	$ 13,745	$ 14,993
Accretion of discount	1,104	1,830	1,429
Change in estimates of existing obligations	1,366	4,138	(763)
Settlement of obligations	(4,756)	(455)	(1,943)
Foreign currency translation	388	(1,145)	29
Ending balance	$ 16,215	$ 18,113	$ 13,745

VALUATION ACCOUNTS - Activity in Valuation Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Allowance for credit losses on accounts receivable
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 299	$ 361	$ 275
Charged (Reduction) to Costs and Expenses	79	115	131
Deductions (Net of Recoveries)	(181)	(162)	(30)
Translation and Other, Net	2	(15)	(15)
Balance at End of Period	199	299	361
Valuation allowance for deferred tax assets
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	82,905	85,351	88,251
Charged (Reduction) to Costs and Expenses	(2,556)	153	1,028
Deductions (Net of Recoveries)	(1,767)	1,178	(656)
Translation and Other, Net	187	(3,777)	(3,272)
Balance at End of Period	$ 78,769	$ 82,905	$ 85,351

GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

Changes in the carrying amount of goodwill (all of which is in our Australia segment) from December 31, 2021 to December 31, 2023 are as follows (in thousands):


	Total
Goodwill as of December 31, 2021	$	8,204
Foreign currency translation	(532)
Goodwill as of December 31, 2022	$	7,672
Foreign currency translation	18
Goodwill as of December 31, 2023	$	7,690

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, 2023 and 2022 (in thousands):


	December 31,				December 31,
	2023				2022
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortizable Intangible Assets
Customer relationships	$	40,728	$	(40,728)	$	40,656	$	(40,656)
Trade name	3,363		(3,363)		3,324		(3,324)
Contracts / agreements	143,725		(65,754)		149,356		(67,637)
Total amortizable intangible assets	$	187,816	$	(109,845)	$	193,336	$	(111,617)

Indefinite-Lived Intangible Assets Not Subject to Amortization
Licenses	28		—		28		—
Total indefinite-lived intangible assets	28		—		28		—
Total intangible assets	$	187,844	$	(109,845)	$	193,364	$	(111,617)

The weighted average remaining amortization period for all intangible assets, other than indefinite-lived intangibles, was 14.1 years as of December 31, 2023 and 15.0 years as of December 31, 2022. Amortization expense was $5.8 million, $5.9 million and $6.0 million in the years ended December 31, 2023, 2022 and 2021, respectively.

As of December 31, 2023, the estimated remaining amortization of our amortizable intangible assets was as follows (in thousands):


	Year Ending December 31,
2024	$	5,616
2025	5,616
2026	5,616
2027	5,616
2028	5,616
Thereafter	49,891
Total	$	77,971

ACCUMULATED OTHER COMPREHENSIVE LOSS	12 Months Ended
ACCUMULATED OTHER COMPREHENSIVE LOSS	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS Our accumulated other comprehensive loss decreased $4.5 million from $385.2 million at December 31, 2022 to $380.7 million at December 31, 2023, as a result of foreign currency exchange rate fluctuations. Changes in other comprehensive loss during 2023 were primarily driven by the Australian dollar and 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$234 million and A$205 million, respectively, at December 31, 2023.

INCOME TAXES - NOL and Tax Credit Carryforwards (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Foreign Tax Authority \| Canada Revenue Agency
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, subject to expiration	$ 144,242
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, subject to expiration	34,028
Operating loss carryforwards, not subject to expiration	30,655
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards, subject to expiration	$ 6,073

GOODWILL AND OTHER INTANGIBLE ASSETS - Goodwill Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 7,672	$ 8,204
Foreign currency translation	18	(532)
Goodwill, ending balance	$ 7,690	$ 7,672

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

INCOME TAXES

12 Months Ended

Dec. 31, 2023

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, 2023, 2022 and 2021 consisted of the following (in thousands):


	2023		2022		2021
Canada operations	$	5,524	$	3,040	$	2,498
Foreign operations	34,839		7,692		3,375
Total	$	40,363	$	10,732	$	5,873

The components of the income tax expense (benefit) for the years ended December 31, 2023, 2022 and 2021 consisted of the following (in thousands):


	2023		2022		2021
Current:
Canada	$	142	$	31	$	141
Foreign	3,685		194		165
Total	$	3,827	$	225	$	306

Deferred:
Canada	$	—	$	—	$	—
Foreign	6,806		4,177		3,070
Total	$	6,806	$	4,177	$	3,070

Net income tax expense (benefit)	$	10,633	$	4,402	$	3,376

The net income tax expense (benefit) differs from an amount computed at Canadian statutory rates as follows for the years ended December 31, 2023, 2022 and 2021 (in thousands):


	2023				2022				2021
Canadian federal tax benefit at statutory rates	$	6,054	15.0	%	$	1,610	15.0	%	$	779	13.3	%
Canadian provincial income tax	497		1.2	%	282		2.6	%	215		3.7	%
Effect of foreign income tax, net	5,481		13.6	%	1,809		16.9	%	1,189		20.2	%
Valuation allowance	(2,556)		(6.3)	%	153		1.4	%	1,028		17.5	%
Noncontrolling interest	125		0.3	%	(562)		(5.2)	%	—		—	%

Non-deductible compensation	1,009		2.5	%	808		7.5	%	526		9.0	%
Unrealized intercompany foreign currency translation gain	(148)		(0.4)	%	(250)		(2.3)	%	(708)		(12.1)	%

Deemed income from foreign subsidiaries	322		0.8	%	331		3.1	%	297		5.1	%
Other, net	(151)		(0.4)	%	221		2.0	%	50		0.8	%
Net income tax expense (benefit)	$	10,633	26.3	%	$	4,402	41.0	%	$	3,376	57.5	%

Deferred Tax Liabilities and Assets. The significant items giving rise to the deferred tax assets and liabilities as of December 31, 2023 and 2022 are as follows (in thousands):


	2023		2022
Deferred tax assets:
Net operating loss	$	54,274	$	75,326
Employee benefits	1,796		2,810
Deductible goodwill and other intangibles	48,201		48,432
Land	3,461		3,159
Other reserves	7,890		7,439
Deferred revenue	2,381		—
Operating lease liabilities	3,199		4,133
Capital losses	2,036		1,930
Other	1,770		2,303
Deferred tax assets	125,008		145,532
Valuation allowance	(78,769)		(82,905)
Deferred tax assets, net	$	46,239	$	62,627
Deferred tax liabilities:
Intangibles	$	(18,949)	$	(20,098)
Depreciation	(36,048)		(43,394)
Operating lease right-of-use assets	(3,045)		(3,913)
Deferred tax liabilities	(58,042)		(67,405)
Net deferred tax liabilities, net	$	(11,803)	$	(4,778)

At December 31, 2023 and 2022, we had no undistributed earnings of foreign subsidiaries that would be subject to income tax upon distribution to Canada from a foreign subsidiary. As such, as of December 31, 2023 and 2022, we did not provide for deferred taxes on any such earnings of our foreign subsidiaries.

NOL Carryforwards. The following table summarizes net operating loss (NOL) carryforwards at December 31, 2023 (in thousands):


	Amount		Expiration Period
Net operating loss carryforwards:
Canada – Federal and provincial	$	144,242	Begins to expire in 2035

U.S. – Federal	34,028		Begins to expire in 2036
U.S. – Federal	30,655		Does not expire
U.S. – State, tax effected	6,073		Begins to expire in 2024

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, 2023 and 2022 are as follows (in thousands):



Balance as of December 31, 2021	$	(85,351)
Change in income tax provision	(153)
Other change	(1,178)
Foreign currency translation	3,777
Balance as of December 31, 2022	(82,905)
Change in income tax provision	2,556
Other change	1,767
Foreign currency translation	(187)
Balance as of December 31, 2023	$	(78,769)

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, 2023, management determined that there is not sufficient evidence to conclude that it is more likely than not that the Canadian and U.S. net deferred tax assets are realizable, therefore we have maintained the valuation allowance in both of these jurisdictions. As of December 31, 2023, management determined that there is not sufficient evidence to conclude that it is more likely than not that the Australia deferred tax assets related to certain capital assets are realizable, therefore we have maintained a partial valuation allowance in Australia.

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 2018 are subject to audit by the Canada Revenue Agency. Our Australian subsidiary’s federal income tax returns subsequent to 2018 are open for review by the Australian Taxation Office. Our U.S. subsidiary’s federal tax returns subsequent to 2019 are subject to audit by the U.S. Internal Revenue Service.

The total amount of unrecognized tax benefits as of December 31, 2023, 2022 and 2021 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, 2023, 2022 and 2021, 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
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

DEBT - Long-term Debt Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
2024	$ 0
2025	65,554
Debt, gross	$ 65,554	$ 132,037

DETAILS OF SELECTED BALANCE SHEET ACCOUNTS

12 Months Ended

Dec. 31, 2023

Balance Sheet Related Disclosures [Abstract]

DETAILS OF SELECTED BALANCE SHEET ACCOUNTS

Additional information regarding selected balance sheet accounts at December 31, 2023 and 2022 is presented below (in thousands):


	December 31, 2023		December 31, 2022
Accounts receivable, net:
Trade	$	93,527	$	65,563
Unbilled revenue	46,331		52,547
Other	3,563		1,944
Total accounts receivable	143,421		120,054
Allowance for credit losses	(199)		(299)
Total accounts receivable, net	$	143,222	$	119,755


	December 31, 2023		December 31, 2022
Inventories:
Finished goods and purchased products	$	5,648	$	5,538

Raw materials	1,334		1,369
Total inventories	$	6,982	$	6,907


	Estimated Useful Life (in years)	December 31, 2023		December 31, 2022
Property, plant and equipment, net:
Land		$	27,988	$	25,528
Accommodations assets	3-15	1,378,408		1,464,476
Buildings and leasehold improvements	7-20	14,603		15,516
Machinery and equipment	4-7	13,255		11,775
Office furniture and equipment	3-7	67,248		62,725
Vehicles	3-5	10,025		8,411
Construction in progress		12,087		1,771
Total property, plant and equipment		1,523,614		1,590,202
Accumulated depreciation		(1,253,051)		(1,288,312)
Total property, plant and equipment, net		$	270,563	$	301,890


	December 31, 2023		December 31, 2022
Accrued liabilities:
Accrued compensation	$	33,854	$	34,358
Accrued taxes, other than income taxes	3,997		2,873

Other	2,672		1,980
Total accrued liabilities	$	40,523	$	39,211


	December 31, 2023		December 31, 2022
Contract liabilities (Deferred revenue):
Current contract liabilities (1)	$	4,849	$	991
Noncurrent contract liabilities (1)	8,068		—
Total contract liabilities (Deferred revenue)	$	12,917	$	991

(1)Current contract liabilities and Noncurrent contract liabilities are included in "Deferred revenue" and "Other noncurrent liabilities," respectively, in our consolidated balance sheets.

Deferred revenue typically consists of upfront payments received before we satisfy the associated performance obligation. The increase in deferred revenue from December 31, 2022 to December 31, 2023 was due to payments received from a customer for village enhancements in Australia and a payment received from a customer related to an asset transportation contract, which will all be recognized over the contracted terms.

SHARE REPURCHASE PROGRAMS AND DIVIDENDS - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands					1 Months Ended			3 Months Ended	12 Months Ended
	Dec. 18, 2023	Oct. 27, 2023	Sep. 29, 2023	Sep. 05, 2023	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2021	Sep. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Stock repurchase program, authorized amount, percentage					5.00%	5.00%	5.00%
Stock repurchase program, number of shares authorized to be repurchased (in shares)					742,000	685,000	715,000
Stock repurchase program, purchase period					12 months	12 months	12 months
Treasury stock, shares, acquired (in shares)								374,753
Dollar-value of shares repurchased								$ 10,700	$ 11,634	$ 14,209	$ 4,649
Common stock, dividends, per share, declared (in dollars per share)		$ 0.25		$ 0.25
Dividends paid	$ 3,700		$ 3,700						$ 7,423	$ 0	$ 0

DEBT (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

As of December 31, 2023 and 2022, long-term debt consisted of the following (in thousands):


	December 31, 2023		December 31, 2022
Canadian term loan; weighted average interest rate of 8.2% for the twelve-month period ended December 31, 2023	$	—	$	29,532
U.S. revolving credit facility; weighted average interest rate of 10.2% for the twelve-month period ended December 31, 2023	—		—
Canadian revolving credit facility; weighted average interest rate of 8.3% for the twelve-month period ended December 31, 2023	65,554		101,147
Australian revolving credit facility; weighted average interest rate of 6.8% for the twelve-month period ended December 31, 2023	—		1,358
	65,554		132,037
Less: Unamortized debt issuance costs	—		1,084
Total debt	65,554		130,953
Less: Current portion of long-term debt, including unamortized debt issuance costs, net	—		28,448
Long-term debt, less current maturities	$	65,554	$	102,505

Schedule of Maturities of Long-term Debt

Scheduled maturities of long-term debt as of December 31, 2023 are as follows (in thousands):


	Year Ending December 31,
2024	$	—
2025	65,554

	$	65,554

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482925/835-30-45-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482925/835-30-45-1A

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482949/835-30-55-8

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480848/942-470-50-3

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-8

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-6

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-7

+ Details

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 3,323	$ 7,954
Accounts receivable, net	143,222	119,755
Inventories	6,982	6,907
Prepaid expenses	8,439	7,199
Other current assets	7,407	3,081
Assets held for sale	5,873	8,653
Total current assets	175,246	153,549
Property, plant and equipment, net	270,563	301,890
Goodwill	7,690	7,672
Other intangible assets, net	77,999	81,747
Operating lease right-of-use assets	12,286	15,722
Other noncurrent assets	4,278	5,604
Total assets	548,062	566,184
Current liabilities:
Accounts payable	58,699	51,087
Accrued liabilities	40,523	39,211
Income taxes	3,831	178
Current portion of long-term debt	0	28,448
Deferred revenue	4,849	991
Other current liabilities	6,334	8,342
Total current liabilities	114,236	128,257
Long-term debt, less current maturities	65,554	102,505
Deferred income taxes	11,803	4,778
Operating lease liabilities	9,264	12,771
Other noncurrent liabilities	24,167	14,172
Total liabilities	225,024	262,483
Commitments and contingencies (Note 15)
Shareholders’ equity:
Preferred shares (Class A Series 1)	0	0
Common shares (no par value; 46,000,000 shares authorized, 15,046,756 shares and 15,584,176 shares issued, respectively, and 14,680,081 shares and 15,217,501 shares outstanding, respectively)	0	0
Additional paid-in capital	1,628,972	1,624,512
Accumulated deficit	(919,023)	(930,123)
Common shares held in treasury at cost, 366,675 and 366,675 shares, respectively	(9,063)	(9,063)
Accumulated other comprehensive loss	(380,715)	(385,187)
Total Civeo Corporation shareholders’ equity	320,171	300,139
Noncontrolling interest	2,867	3,562
Total shareholders’ equity	323,038	303,701
Total liabilities and shareholders’ equity	$ 548,062	$ 566,184

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parentheticals) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustment, tax	$ 0	$ 0	$ 0

REVENUE - Remaining Expected Performance Obligation (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized as of December 31, 2023	$ 682,696
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 as of December 31, 2023	$ 166,047
Revenue expected to be recognized, period	1 year
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 as of December 31, 2023	$ 126,082
Revenue expected to be recognized, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized as of December 31, 2023	$ 95,196
Revenue expected to be recognized, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized as of December 31, 2023	$ 295,371
Revenue expected to be recognized, period

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Total revenues	$ 700,805	$ 697,052	$ 594,463
Costs and expenses:
Selling, general and administrative expenses	72,605	69,962	60,600
Depreciation and amortization expense	75,142	87,214	83,101
Impairment expense	1,395	5,721	7,935
Gain on sale of McClelland Lake Lodge assets, net	(18,590)	0	0
Other operating expense	479	74	313
Total costs and expenses	661,318	680,034	588,411
Operating income	39,487	17,018	6,052
Interest expense	(13,177)	(11,474)	(12,964)
Loss on extinguishment of debt	0	0	(416)
Interest income	172	39	2
Other income	13,881	5,149	13,199
Income before income taxes	40,363	10,732	5,873
Income tax expense	(10,633)	(4,402)	(3,376)
Net income	29,730	6,330	2,497
Less: Net income (loss) attributable to noncontrolling interest	(427)	2,333	1,147
Net income attributable to Civeo Corporation	30,157	3,997	1,350
Less: Dividends attributable to Class A preferred shares	0	1,771	1,925
Net income (loss) attributable to Civeo common shareholders	$ 30,157	$ 2,226	$ (575)
Per Share Data (see Note 6)
Basic net income (loss) per share attributable to Civeo Corporation common shareholders (in dollars per share)	$ 2.02	$ (0.21)	$ (0.04)
Diluted net income (loss) per share attributable to Civeo Corporation common shareholders (in dollars per share)	$ 2.01	$ (0.21)	$ (0.04)
Weighted average number of common shares outstanding:
Basic (in shares)	14,906	14,002	14,232
Diluted (in shares)	15,013	14,002	14,232
Service and other
Revenues:
Total revenues	$ 699,006	$ 676,001	$ 575,186
Costs and expenses:
Service, other and product costs	529,741	500,513	420,579
Rental
Revenues:
Total revenues	737	18,316	16,033
Costs and expenses:
Service, other and product costs	176	14,975	13,960
Product
Revenues:
Total revenues	1,062	2,735	3,244
Costs and expenses:
Service, other and product costs	$ 370	$ 1,575	$ 1,923

IMPAIRMENT CHARGES

12 Months Ended

Dec. 31, 2023

Asset Impairment Charges [Abstract]

IMPAIRMENT CHARGES

2023 Impairment Charges

The following summarizes pre-tax impairment charges recorded during 2023, which are included in Impairment expense in our consolidated statements of operations (in thousands):


	U.S.		Total
Quarter ended December 31, 2023
Long-lived assets	$	1,395	$	1,395
Total	$	1,395	$	1,395

Quarter ended December 31, 2023. During the fourth quarter of 2023, we recorded impairment expense of $1.4 million, related to land located in our U.S. market. The land was written down to its estimated fair value (less costs to sell) of $5.9 million.

2022 Impairment Charges

The following summarizes pre-tax impairment charges recorded during 2022, which are included in Impairment expense in our consolidated statements of operations (in thousands):


	Australia		U.S.		Total
Quarter ended December 31, 2022
Long-lived assets	$	3,808	$	1,913	$	5,721
Total	$	3,808	$	1,913	$	5,721

Quarter ended December 31, 2022. During the fourth quarter of 2022, we recorded impairment expense of $3.8 million, related to fixed assets in a village located in Western Australia. At December 31, 2022, we identified an impairment trigger due to an expiring contract that was not renewed. Accordingly, the assets were written down to their estimated fair value of $1.8 million. In addition, we recorded impairment expense of $1.9 million, related to fixed assets in a lodge located in our U.S. market. The lodge was written down to its estimated fair value (less costs to sell) of $7.7 million.

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):


	Australia		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.

ASSET RETIREMENT OBLIGATIONS

12 Months Ended

Dec. 31, 2023

Asset Retirement Obligation Disclosure [Abstract]

ASSET RETIREMENT OBLIGATIONS

AROs at December 31, 2023 and 2022 were (in thousands):


	2023		2022
Asset retirement obligations	$	16,215	$	18,113
Less: Asset retirement obligations due within one year (1)	2,576		4,550
Long-term asset retirement obligations	$	13,639	$	13,563


(1)			Classified as a current liability on the consolidated balance sheets, under the caption “Other current liabilities.” Balance at December 31, 2023 related to remediation work planned for 2024.

Total accretion expense related to AROs was $1.1 million, $1.8 million and $1.4 million during the years ended December 31, 2023, 2022 and 2021, respectively.

During the years ended December 31, 2023, 2022 and 2021, our ARO changed as follows (in thousands):


	2023		2022		2021
Balance as of January 1	$	18,113	$	13,745	$	14,993
Accretion of discount	1,104		1,830		1,429

Change in estimates of existing obligations	1,366		4,138		(763)
Settlement of obligations	(4,756)		(455)		(1,943)
Foreign currency translation	388		(1,145)		29
Balance as of December 31	$	16,215	$	18,113	$	13,745

ASSETS HELD FOR SALE - Narrative (Details) $ in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2023 CAD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from disposition of property, plant and equipment	$ 16,740	$ 16,286	$ 14,306
Discontinued Operations, Disposed of by Sale \| McClelland Lake Lodge
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal group, including discontinued operation, consideration				$ 36,000	$ 49
Business exit costs	14,200
Proceeds from disposition of property, plant and equipment	$ 28,200

COVER - USD ($)	12 Months Ended
COVER - USD ($)	Dec. 31, 2023	Feb. 23, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-36246
Entity Registrant Name	Civeo Corp
Entity Incorporation, State or Country Code	A1
Entity Tax Identification Number	98-1253716
Entity Address, Address Line One	Three Allen Center
Entity Address, Address Line Two	333 Clay Street
Entity Address, Address Line Three	Suite 4980
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77002
City Area Code	713
Local Phone Number	510-2400
Title of 12(b) Security	Common Shares, no par value
Trading Symbol	CVEO
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 254,992,411
Entity Common Stock, Shares Outstanding		14,669,767
Documents Incorporated by Reference	Portions of the registrant's Definitive Proxy Statement for the 2024 Annual General Meeting of Shareholders, which the registrant intends to file with the Securities and Exchange Commission not later than 120 days after the end of the fiscal year covered by this Annual Report on Form 10-K, are incorporated by reference into Part III of this Annual Report on Form 10-K.
Entity Central Index Key	0001590584
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

ACQUISITIONS (Details) - Noralta $ in Millions, $ in Millions			3 Months Ended
	Apr. 02, 2018 USD ($) shares	Apr. 02, 2018 CAD ($) shares	Jun. 30, 2023 shares
Business Acquisition [Line Items]
Payments to acquire businesses	$ 161.2	$ 207.7
Stock issued during period, shares, treasury stock reissued (in shares)			400,000
Common Shares
Business Acquisition [Line Items]
Common shares issued (in shares)	2,700,000	2,700,000
Number of shares held in escrow (in shares)	1,100,000	1,100,000
Preferred Shares \| Series A Preferred Stock
Business Acquisition [Line Items]
Common shares issued (in shares)	9,679	9,679
Initial liquidation preference amount \| $	$ 96.8
Number of shares issued upon conversion (in shares)	2,400,000

DETAILS OF SELECTED BALANCE SHEET ACCOUNTS - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Total property, plant and equipment	$ 1,523,614	$ 1,590,202
Accumulated depreciation	(1,253,051)	(1,288,312)
Total property, plant and equipment, net	270,563	301,890
Land
Property, Plant and Equipment [Abstract]
Total property, plant and equipment	27,988	25,528
Accommodations assets
Property, Plant and Equipment [Abstract]
Total property, plant and equipment	$ 1,378,408	1,464,476
Accommodations assets \| Minimum
Property, Plant and Equipment [Abstract]
Estimated Useful Life (in years)	3 years
Accommodations assets \| Maximum
Property, Plant and Equipment [Abstract]
Estimated Useful Life (in years)	15 years
Buildings and leasehold improvements
Property, Plant and Equipment [Abstract]
Total property, plant and equipment	$ 14,603	15,516
Buildings and leasehold improvements \| Minimum
Property, Plant and Equipment [Abstract]
Estimated Useful Life (in years)	7 years
Buildings and leasehold improvements \| Maximum
Property, Plant and Equipment [Abstract]
Estimated Useful Life (in years)	20 years
Machinery and equipment
Property, Plant and Equipment [Abstract]
Total property, plant and equipment	$ 13,255	11,775
Machinery and equipment \| Minimum
Property, Plant and Equipment [Abstract]
Estimated Useful Life (in years)	4 years
Machinery and equipment \| Maximum
Property, Plant and Equipment [Abstract]
Estimated Useful Life (in years)	7 years
Office furniture and equipment
Property, Plant and Equipment [Abstract]
Total property, plant and equipment	$ 67,248	62,725
Office furniture and equipment \| Minimum
Property, Plant and Equipment [Abstract]
Estimated Useful Life (in years)	3 years
Office furniture and equipment \| Maximum
Property, Plant and Equipment [Abstract]
Estimated Useful Life (in years)	7 years
Vehicles
Property, Plant and Equipment [Abstract]
Total property, plant and equipment	$ 10,025	8,411
Vehicles \| Minimum
Property, Plant and Equipment [Abstract]
Estimated Useful Life (in years)	3 years
Vehicles \| Maximum
Property, Plant and Equipment [Abstract]
Estimated Useful Life (in years)	5 years
Construction in progress
Property, Plant and Equipment [Abstract]
Total property, plant and equipment	$ 12,087	$ 1,771

GOODWILL AND OTHER INTANGIBLE ASSETS - Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 187,816	$ 193,336
Accumulated Amortization	(109,845)	(111,617)
Indefinite-Lived Intangible Assets Not Subject to Amortization	28	28
Total intangible assets	187,844	193,364
Licenses
Finite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets Not Subject to Amortization	28	28
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	40,728	40,656
Accumulated Amortization	(40,728)	(40,656)
Trade name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,363	3,324
Accumulated Amortization	(3,363)	(3,324)
Contracts / agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	143,725	149,356
Accumulated Amortization	$ (65,754)	$ (67,637)

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023, 2022 and 2021 consisted of the following (in thousands):


	2023		2022		2021
Canada operations	$	5,524	$	3,040	$	2,498
Foreign operations	34,839		7,692		3,375
Total	$	40,363	$	10,732	$	5,873

Schedule of Components of Income Tax Expense (Benefit)

The components of the income tax expense (benefit) for the years ended December 31, 2023, 2022 and 2021 consisted of the following (in thousands):


	2023		2022		2021
Current:
Canada	$	142	$	31	$	141
Foreign	3,685		194		165
Total	$	3,827	$	225	$	306

Deferred:
Canada	$	—	$	—	$	—
Foreign	6,806		4,177		3,070
Total	$	6,806	$	4,177	$	3,070

Net income tax expense (benefit)	$	10,633	$	4,402	$	3,376

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, 2023, 2022 and 2021 (in thousands):


	2023				2022				2021
Canadian federal tax benefit at statutory rates	$	6,054	15.0	%	$	1,610	15.0	%	$	779	13.3	%
Canadian provincial income tax	497		1.2	%	282		2.6	%	215		3.7	%
Effect of foreign income tax, net	5,481		13.6	%	1,809		16.9	%	1,189		20.2	%
Valuation allowance	(2,556)		(6.3)	%	153		1.4	%	1,028		17.5	%
Noncontrolling interest	125		0.3	%	(562)		(5.2)	%	—		—	%

Non-deductible compensation	1,009		2.5	%	808		7.5	%	526		9.0	%
Unrealized intercompany foreign currency translation gain	(148)		(0.4)	%	(250)		(2.3)	%	(708)		(12.1)	%

Deemed income from foreign subsidiaries	322		0.8	%	331		3.1	%	297		5.1	%
Other, net	(151)		(0.4)	%	221		2.0	%	50		0.8	%
Net income tax expense (benefit)	$	10,633	26.3	%	$	4,402	41.0	%	$	3,376	57.5	%

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, 2023 and 2022 are as follows (in thousands):


	2023		2022
Deferred tax assets:
Net operating loss	$	54,274	$	75,326
Employee benefits	1,796		2,810
Deductible goodwill and other intangibles	48,201		48,432
Land	3,461		3,159
Other reserves	7,890		7,439
Deferred revenue	2,381		—
Operating lease liabilities	3,199		4,133
Capital losses	2,036		1,930
Other	1,770		2,303
Deferred tax assets	125,008		145,532
Valuation allowance	(78,769)		(82,905)
Deferred tax assets, net	$	46,239	$	62,627
Deferred tax liabilities:
Intangibles	$	(18,949)	$	(20,098)
Depreciation	(36,048)		(43,394)
Operating lease right-of-use assets	(3,045)		(3,913)
Deferred tax liabilities	(58,042)		(67,405)
Net deferred tax liabilities, net	$	(11,803)	$	(4,778)

Summary Of Operating Loss and Tax Credit Carry forwards

NOL Carryforwards. The following table summarizes net operating loss (NOL) carryforwards at December 31, 2023 (in thousands):


	Amount		Expiration Period
Net operating loss carryforwards:
Canada – Federal and provincial	$	144,242	Begins to expire in 2035

U.S. – Federal	34,028		Begins to expire in 2036
U.S. – Federal	30,655		Does not expire
U.S. – State, tax effected	6,073		Begins to expire in 2024

Summary of Valuation Allowance

Changes in our valuation allowance for the years ended December 31, 2023 and 2022 are as follows (in thousands):



Balance as of December 31, 2021	$	(85,351)
Change in income tax provision	(153)
Other change	(1,178)
Foreign currency translation	3,777
Balance as of December 31, 2022	(82,905)
Change in income tax provision	2,556
Other change	1,767
Foreign currency translation	(187)
Balance as of December 31, 2023	$	(78,769)

ASSET RETIREMENT OBLIGATIONS - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Asset Retirement Obligation Disclosure [Abstract]
Accretion of discount	$ 1,104	$ 1,830	$ 1,429

INCOME TAXES - Narrative (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 0	$ 0	$ 0
Interest expense and penalties accrued	$ 0	$ 0	$ 0

ACQUISITIONS	12 Months Ended
ACQUISITIONS	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	ACQUISITIONS 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 was 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 were held in escrow and released based on certain conditions related to Noralta customer contracts remaining in place, and (iii) 9,679 Series A 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 quarters of each of 2023, 2022 and 2021, 0.4 million shares were released to the sellers from escrow.

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Carrying Amount of Goodwill

Changes in the carrying amount of goodwill (all of which is in our Australia segment) from December 31, 2021 to December 31, 2023 are as follows (in thousands):


	Total
Goodwill as of December 31, 2021	$	8,204
Foreign currency translation	(532)
Goodwill as of December 31, 2022	$	7,672
Foreign currency translation	18
Goodwill as of December 31, 2023	$	7,690

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, 2023 and 2022 (in thousands):


	December 31,				December 31,
	2023				2022
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortizable Intangible Assets
Customer relationships	$	40,728	$	(40,728)	$	40,656	$	(40,656)
Trade name	3,363		(3,363)		3,324		(3,324)
Contracts / agreements	143,725		(65,754)		149,356		(67,637)
Total amortizable intangible assets	$	187,816	$	(109,845)	$	193,336	$	(111,617)

Indefinite-Lived Intangible Assets Not Subject to Amortization
Licenses	28		—		28		—
Total indefinite-lived intangible assets	28		—		28		—
Total intangible assets	$	187,844	$	(109,845)	$	193,364	$	(111,617)

Schedule of Remaining Amortization of Finite-Lived Intangible Assets

As of December 31, 2023, the estimated remaining amortization of our amortizable intangible assets was as follows (in thousands):


	Year Ending December 31,
2024	$	5,616
2025	5,616
2026	5,616
2027	5,616
2028	5,616
Thereafter	49,891
Total	$	77,971

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

SHARE REPURCHASE PROGRAMS AND DIVIDENDS (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Class of Treasury Stock

The following table summarizes our common share repurchases pursuant to our share repurchase programs (in thousands, except per share data).


	2023		2022		2021
Shares repurchased	564		124		217
Average price paid per share	$	20.60	$	28.54	$	21.38
Dollar-value of shares repurchased	$	11,634	$	3,540	$	4,649

SEGMENT AND RELATED INFORMATION - Financial Information by Business Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total Revenues	$ 700,805	$ 697,052	$ 594,463
Depreciation and amortization	75,142	87,214	83,101
Operating (loss) income	39,487	17,018	6,052
Capital expenditures	31,633	25,421	15,571
Total assets	548,062	566,184	672,734
Canada
Segment Reporting Information [Line Items]
Total Revenues	352,795	395,997	321,378
Australia
Segment Reporting Information [Line Items]
Total Revenues	336,763	278,252	251,074
Operating Segments \| Canada
Segment Reporting Information [Line Items]
Total Revenues	352,795	395,997	321,378
Depreciation and amortization	46,319	55,503	47,253
Operating (loss) income	20,187	17,023	12,816
Capital expenditures	9,216	11,588	6,747
Total assets	769,543	726,640	764,519
Operating Segments \| Australia
Segment Reporting Information [Line Items]
Total Revenues	336,763	278,252	251,074
Depreciation and amortization	28,696	30,521	33,110
Operating (loss) income	36,317	14,731	7,303
Capital expenditures	21,632	12,757	6,823
Total assets	205,702	198,795	226,318
Corporate, other and eliminations \| Corporate, other and eliminations
Segment Reporting Information [Line Items]
Total Revenues	11,247	22,803	22,011
Depreciation and amortization	127	1,190	2,738
Operating (loss) income	(17,017)	(14,736)	(14,067)
Capital expenditures	785	1,076	2,001
Total assets	$ (427,183)	$ (359,251)	$ (318,103)

REVENUE (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table disaggregates our revenue by our two reportable segments (Canada and Australia) into major categories for the years ended December 31, 2023, 2022 and 2021 (in thousands):


	2023		2022		2021
Canada
Accommodation revenues	$	266,926	$	279,455	$	239,526
Mobile facility rental revenues	61,899		96,400		62,856
Food service and other services revenues	23,970		20,142		18,996

Total Canada revenues	352,795		395,997		321,378

Australia
Accommodation revenues	$	177,834	$	152,714	$	145,335
Food service and other services revenues	158,929		125,538		105,739
Total Australia revenues	336,763		278,252		251,074

Other
Other revenues	$	11,247	$	22,803	$	22,011



Total other revenues	11,247		22,803		22,011

Total revenues	$	700,805	$	697,052	$	594,463

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

As of December 31, 2023, 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,
	2024		2025		2026		Thereafter		Total
Revenue expected to be recognized as of December 31, 2023	$	166,047	$	126,082	$	95,196	$	295,371	$	682,696

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)

12 Months Ended

Dec. 31, 2023

Supplemental Cash Flow Information [Abstract]

Schedule of Cash Flow, Supplemental Disclosures

Cash paid during the years ended December 31, 2023, 2022 and 2021 for interest and income taxes was as follows (in thousands):


	2023		2022		2021
Interest (net of amounts capitalized)	$	10,250	$	9,226	$	9,991
Net income taxes paid, net of refunds received	251		220		334

EARNINGS PER SHARE - Schedule of Anti-Dilutive Shares (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (less than in 2023, share-based awards) (in shares)	100	200	200
Preferred Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (less than in 2023, share-based awards) (in shares)	0	2,240	2,461

ASSETS HELD FOR SALE

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

ASSETS HELD FOR SALE

As of December 31, 2023, assets held for sale included certain assets in the U.S. These assets were recorded at the estimated fair value less costs to sell, which exceeded or equaled their carry values. During the first quarter of 2023, we sold the accommodation assets in Louisiana. The land at this location remains in assets held for sale as of December 31, 2023.

During the third quarter of 2023, we entered into a definitive agreement to sell our McClelland Lake Lodge assets for approximately C$49 million, or US$36 million. The related assets had no remaining carrying value. During the year ended December 31, 2023, we recognized $14.2 million in demobilization costs and received $28.2 million in cash proceeds associated with the sale. We expect to recognize the remaining demobilization costs and the proceeds of the sale in the first quarter of 2024.

As of December 31, 2022, assets held for sale included certain assets in our Canadian business segment and the U.S. These assets were recorded at the estimated fair value less costs to sell, which exceeded their carrying values.

The following table summarizes the carrying amount as of December 31, 2023 and 2022 of the assets classified as held for sale (in thousands):


	December 31, 2023		December 31, 2022
Assets held for sale:
Property, plant and equipment, net	$	5,873	$	8,653
Total assets held for sale	$	5,873	$	8,653

SEGMENT AND RELATED INFORMATION

12 Months Ended

Dec. 31, 2023

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 two reportable segments, Canada and Australia, which represent our strategic focus on hospitality services and workforce accommodations. Prior to the first quarter of 2023, we presented the U.S. operating segment as a separate reportable segment. Our operating segment in the U.S. no longer meets the reportable segment quantitative thresholds required by U.S. GAAP and is included below within the Corporate, other and eliminations category. Prior periods have been updated to be consistent with the presentation for the year ended December 31, 2023.

Financial information by business segment for each of the three years ended December 31, 2023, 2022 and 2021 is summarized in the following table (in thousands):


	Total Revenues		Depreciation and amortization		Operating (loss) income		Capital expenditures		Total assets
2023
Canada	$	352,795	$	46,319	$	20,187	$	9,216	$	769,543
Australia	336,763		28,696		36,317		21,632		205,702
Corporate, other and eliminations	11,247		127		(17,017)		785		(427,183)
Total	$	700,805	$	75,142	$	39,487	$	31,633	$	548,062

2022
Canada	$	395,997	$	55,503	$	17,023	$	11,588	$	726,640
Australia	278,252		30,521		14,731		12,757		198,795
Corporate, other and eliminations	22,803		1,190		(14,736)		1,076		(359,251)
Total	$	697,052	$	87,214	$	17,018	$	25,421	$	566,184

2021
Canada	$	321,378	$	47,253	$	12,816	$	6,747	$	764,519
Australia	251,074		33,110		7,303		6,823		226,318
Corporate, other and eliminations	22,011		2,738		(14,067)		2,001		(318,103)
Total	$	594,463	$	83,101	$	6,052	$	15,571	$	672,734


	Canada		Australia		Other		Total
2023
Revenues from unaffiliated customers	$	352,795	$	336,763	$	11,247	$	700,805
Long-lived assets	230,940		137,789		4,087		372,816

2022
Revenues from unaffiliated customers	$	395,997	$	278,252	$	22,803	$	697,052
Long-lived assets	263,112		144,489		5,034		412,635

2021
Revenues from unaffiliated customers	$	321,378	$	251,074	$	22,011	$	594,463
Long-lived assets	325,160		177,607		12,774		515,541

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

IMPAIRMENT CHARGES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2021
Impaired Long-Lived Assets Held and Used [Line Items]
Long-lived assets	$ 1,395	$ 5,721	$ 7,935
Property, plant and equipment, net	270,563	301,890
Australia
Impaired Long-Lived Assets Held and Used [Line Items]
Long-lived assets	1,400	3,808	7,935
Property, plant and equipment, net		1,800	$ 2,400
U.S.
Impaired Long-Lived Assets Held and Used [Line Items]
Long-lived assets	1,395	1,913
Property, plant and equipment, net	$ 5,900	$ 7,700

RETIREMENT PLANS (Details) $ in Millions	12 Months Ended
RETIREMENT PLANS (Details) $ in Millions	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CAD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Defined Contribution Plan Disclosure [Line Items]
Recognized defined contribution plan expense	$ 10.2		$ 8.2	$ 7.6
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		$ 15,780
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		$ 30,780
Australian Retirement Savings Plan
Defined Contribution Plan Disclosure [Line Items]
Percentage of contributed employee gross pay matched by employer	10.50%	10.50%
U.S. Retirement Savings Plan
Defined Contribution Plan Disclosure [Line Items]
Percentage of contributed employee gross pay matched by employer	6.00%	6.00%
U.S. Retirement Savings Plan \| Minimum
Defined Contribution Plan Disclosure [Line Items]
Maximum annual percent of pay contributed by employee	1.00%	1.00%
U.S. Retirement Savings Plan \| Maximum
Defined Contribution Plan Disclosure [Line Items]
Required years of service for vesting in employer contributions	3 years	3 years
Maximum annual percent of pay contributed by employee	75.00%	75.00%
U.S. Retirement Savings Plan \| First 4% of employee pay contributed matched at 100%
Defined Contribution Plan Disclosure [Line Items]
Percentage of contributed employee gross pay matched by employer	4.00%	4.00%
Percent of employer matching contribution	100.00%	100.00%
U.S. Retirement Savings Plan \| Next 2% of employee pay contributed matched at 50%
Defined Contribution Plan Disclosure [Line Items]
Percentage of contributed employee gross pay matched by employer	2.00%	2.00%
Percent of employer matching contribution	50.00%	50.00%
U.S. Retirement Savings Plan \| 40% Vesting Rate
Defined Contribution Plan Disclosure [Line Items]
Annual vesting percentage	40.00%	40.00%
U.S. Retirement Savings Plan \| 40% Vesting Rate \| Minimum
Defined Contribution Plan Disclosure [Line Items]
Required years of service for vesting in employer contributions	2 years	2 years
U.S. Retirement Savings Plan \| 20% Vesting Rate
Defined Contribution Plan Disclosure [Line Items]
Annual vesting percentage	20.00%	20.00%

FAIR VALUE MEASUREMENTS	12 Months Ended
FAIR VALUE MEASUREMENTS	Dec. 31, 2023
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, 2023 and 2022, 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, broker price opinions and previous negotiations with third parties. During the fourth quarter of 2023 and 2022 and the second quarter of 2021, we wrote down certain long-lived assets to fair value. During the fourth quarter of 2023 and 2022, our estimate of fair value of a property in the U.S. was based on broker price opinions or appraisals from third parties, which referenced available market information, such as listing agreements, offers, and pending and closed sales. During the second quarter of 2021 and the fourth quarter of 2022, our estimate of fair value in Australia for assets that were impaired was 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 - Operating Leases Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating Leases
Operating lease right-of-use assets	$ 12,286	$ 15,722
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Other current liabilities	$ 3,594	$ 3,792
Operating lease liabilities	9,264	12,771
Total operating lease liabilities	$ 12,858	$ 16,563
Finance Leases
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other noncurrent assets	Other noncurrent assets
Other noncurrent assets	$ 760	$ 0
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Other current liabilities	$ 164	$ 0
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other noncurrent liabilities	Other noncurrent liabilities
Other noncurrent liabilities	$ 613	$ 0
Total	$ 777	$ 0
Weighted average remaining lease term, operating leases	4 years 1 month 6 days	4 years 9 months 18 days
Weighted average remaining lease term, finance leases	4 years 3 months 18 days
Weighted average discount rate, operating leases	5.50%	5.40%
Weighted average discount rate, finance leases	6.60%	0.00%

PREFERRED SHARES

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

PREFERRED SHARES

On April 2, 2018, we issued 9,679 Series A preferred shares as part of the acquisition of Noralta Lodge Ltd. (Noralta Acquisition). The Series A preferred shares had an initial liquidation preference of $10,000 per share. Holders of the Series A preferred shares were entitled to receive a 2% annual dividend on the liquidation preference paid quarterly in cash or, at our option, by increasing the Series A preferred shares’ liquidation preference or any combination thereof. During the fourth quarter of 2018, 637 Series A preferred shares initially held in escrow to support certain obligations of the Noralta Acquisition were released. On October 30, 2022, 3,617 Series A preferred shares were repurchased from the holders for approximately $30.6 million, which included accrued dividends of under $0.1 million. On December 13, 2022, the holders of the Series A preferred shares elected to convert the remaining 5,425 Series A preferred shares outstanding into 1,504,539 common shares. As of December 31, 2022, we had no Series A preferred shares outstanding.

During the years ended December 31, 2022 and 2021, we recognized preferred dividends on the Series A preferred shares as follows (in thousands):


	2022		2021
In-kind dividends	$	1,706	$	1,925
Cash dividend on repurchased preferred shares	65		—
Total preferred dividends	$	1,771	$	1,925

The Board of Directors (Board) elected to pay the dividends beginning June 30, 2018 through December 12, 2022 through an increase in the liquidation preference rather than in cash. The paid-in-kind dividend of $1.7 million and $1.9 million is included in Preferred dividends on the accompanying consolidated statements of operations for the years ended December 31, 2022 and 2021, respectively. On December 13, 2022, the holders of the Series A preferred shares converted all outstanding Series A preferred shares into common shares. Following such conversion, no further dividends were required to be paid.

EARNINGS PER SHARE - Calculation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net income attributable to Civeo common shareholders, before allocation of earnings to participating securities	$ 30,157	$ 2,226	$ (575)
Less: premium paid for repurchase of preferred shares	0	(5,189)	0
Less: income allocated to participating securities	0	0	0
Net income (loss) attributable to Civeo Corporation common shareholders, after allocation of earnings to participating securities	30,157	(2,963)	(575)
Add: undistributed income attributable to participating securities	0	0	0
Less: undistributed income reallocated to participating securities	0	0	0
Diluted net income (loss) attributable to Civeo Corporation common shareholders, after reallocation adjustment for participating securities	$ 30,157	$ (2,963)	$ (575)
Denominator:
Weighted average shares outstanding - basic (in shares)	14,906	14,002	14,232
Dilutive shares - share-based awards (in shares)	107	0	0
Weighted average common shares outstanding - diluted (in shares)	15,013	14,002	14,232
Basic net income (loss) per share attributable to Civeo Corporation common shareholders (in dollars per share)	$ 2.02	$ (0.21)	$ (0.04)
Diluted net income (loss) per share attributable to Civeo Corporation common shareholders (in dollars per share)	$ 2.01	$ (0.21)	$ (0.04)

SEGMENT AND RELATED INFORMATION - Financial Information By Geographic Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues from unaffiliated customers	$ 700,805	$ 697,052	$ 594,463
Long-lived assets	372,816	412,635	515,541
Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues from unaffiliated customers	352,795	395,997	321,378
Canada \| Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues from unaffiliated customers	352,795	395,997	321,378
Long-lived assets	230,940	263,112	325,160
Australia
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues from unaffiliated customers	336,763	278,252	251,074
Australia \| Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues from unaffiliated customers	336,763	278,252	251,074
Long-lived assets	137,789	144,489	177,607
Other \| Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues from unaffiliated customers	11,247	22,803	22,011
Long-lived assets	$ 4,087	$ 5,034	$ 12,774

- Definition

+ References

+ Details

DETAILS OF SELECTED BALANCE SHEET ACCOUNTS (Tables)

12 Months Ended

Dec. 31, 2023

Balance Sheet Related Disclosures [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

Additional information regarding selected balance sheet accounts at December 31, 2023 and 2022 is presented below (in thousands):


	December 31, 2023		December 31, 2022
Accounts receivable, net:
Trade	$	93,527	$	65,563
Unbilled revenue	46,331		52,547
Other	3,563		1,944
Total accounts receivable	143,421		120,054
Allowance for credit losses	(199)		(299)
Total accounts receivable, net	$	143,222	$	119,755

Schedule of Inventory, Current


	December 31, 2023		December 31, 2022
Inventories:
Finished goods and purchased products	$	5,648	$	5,538

Raw materials	1,334		1,369
Total inventories	$	6,982	$	6,907

Property, Plant and Equipment


	Estimated Useful Life (in years)	December 31, 2023		December 31, 2022
Property, plant and equipment, net:
Land		$	27,988	$	25,528
Accommodations assets	3-15	1,378,408		1,464,476
Buildings and leasehold improvements	7-20	14,603		15,516
Machinery and equipment	4-7	13,255		11,775
Office furniture and equipment	3-7	67,248		62,725
Vehicles	3-5	10,025		8,411
Construction in progress		12,087		1,771
Total property, plant and equipment		1,523,614		1,590,202
Accumulated depreciation		(1,253,051)		(1,288,312)
Total property, plant and equipment, net		$	270,563	$	301,890

Schedule of Accrued Liabilities


	December 31, 2023		December 31, 2022
Accrued liabilities:
Accrued compensation	$	33,854	$	34,358
Accrued taxes, other than income taxes	3,997		2,873

Other	2,672		1,980
Total accrued liabilities	$	40,523	$	39,211

Schedule of Deferred Revenue


	December 31, 2023		December 31, 2022
Contract liabilities (Deferred revenue):
Current contract liabilities (1)	$	4,849	$	991
Noncurrent contract liabilities (1)	8,068		—
Total contract liabilities (Deferred revenue)	$	12,917	$	991

(1)Current contract liabilities and Noncurrent contract liabilities are included in "Deferred revenue" and "Other noncurrent liabilities," respectively, in our consolidated balance sheets.

SHARE-BASED COMPENSATION - Phantom Share Awards Activity (Details) - Phantom Share Units (PSUs) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
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 (in shares)	659,288	622,130	458,175
Granted (in shares)	229,845	335,098	354,535
Vested (in shares)	(335,178)	(270,382)	(163,499)
Forfeited (in shares)	(33,394)	(27,558)	(27,081)
Nonvested shares at the end of period (in shares)	520,561	659,288	622,130

PREFERRED SHARES (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of Preferred Dividends

During the years ended December 31, 2022 and 2021, we recognized preferred dividends on the Series A preferred shares as follows (in thousands):


	2022		2021
In-kind dividends	$	1,706	$	1,925
Cash dividend on repurchased preferred shares	65		—
Total preferred dividends	$	1,771	$	1,925

ASSETS HELD FOR SALE (Tables)

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following table summarizes the carrying amount as of December 31, 2023 and 2022 of the assets classified as held for sale (in thousands):


	December 31, 2023		December 31, 2022
Assets held for sale:
Property, plant and equipment, net	$	5,873	$	8,653
Total assets held for sale	$	5,873	$	8,653

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-SubTopic 10
-Topic 360
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482099/360-10-50-3

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483475/205-20-45-11

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-3A

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-4A

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-4B

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-5A

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-5B

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5C
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-5C

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-5D

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482099/360-10-50-3A

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 20
-Topic 205
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-1

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-3

+ Details

DEBT - Long-term Debt (Details) - USD ($) $ in Thousands	12 Months Ended
DEBT - Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Debt, gross	$ 65,554	$ 132,037
Less: Unamortized debt issuance costs	0	1,084
Total debt	65,554	130,953
Less: Current portion of long-term debt, including unamortized debt issuance costs, net	0	28,448
Long-term debt, less current maturities	$ 65,554	102,505
Canadian Term Loan
Debt Instrument [Line Items]
Term loan, weighted-average interest rate	8.20%
Canadian term loan	$ 0	29,532
US Revolving Credit Facility
Debt Instrument [Line Items]
Interest rate on line of credit facility	10.20%
Revolving credit facilities	$ 0	0
Canadian Credit Facility
Debt Instrument [Line Items]
Interest rate on line of credit facility	8.30%
Revolving credit facilities	$ 65,554	101,147
Australian Credit Facility
Debt Instrument [Line Items]
Interest rate on line of credit facility	6.80%
Revolving credit facilities	$ 0	$ 1,358

INCOME TAXES - Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Canadian federal tax benefit at statutory rates	$ 6,054	$ 1,610	$ 779
Canadian Federal tax benefit at statutory rates, percent	15.00%	15.00%	13.30%
Canadian provincial income tax	$ 497	$ 282	$ 215
Canadian provincial income tax, percent	1.20%	2.60%	3.70%
Effect of foreign income tax, net	$ 5,481	$ 1,809	$ 1,189
Effect of foreign income tax, net, percent	13.60%	16.90%	20.20%
Valuation allowance	$ (2,556)	$ 153	$ 1,028
Valuation allowance, percent	(6.30%)	1.40%	17.50%
Noncontrolling interest	$ 125	$ (562)	$ 0
Noncontrolling interest, percent	0.30%	(5.20%)	0.00%
Non-deductible compensation	$ 1,009	$ 808	$ 526
Nondeductible compensation, percent	2.50%	7.50%	9.00%
Unrealized intercompany foreign currency translation gain	$ (148)	$ (250)	$ (708)
Unrealized intercompany unrealized foreign currency translation, percent	(0.40%)	(2.30%)	(12.10%)
Deemed income from foreign subsidiaries	$ 322	$ 331	$ 297
Deemed income from foreign subsidiaries, percent	0.80%	3.10%	5.10%
Other, net	$ (151)	$ 221	$ 50
Other, net, percent	(0.40%)	2.00%	0.80%
Net income tax expense (benefit)	$ 10,633	$ 4,402	$ 3,376
Net income tax expense (benefit), percent	26.30%	41.00%	57.50%

ASSETS HELD FOR SALE - Carrying Amount of Assets Held for Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets held for sale:
Property, plant and equipment, net	$ 5,873	$ 8,653
Total assets held for sale	$ 5,873	$ 8,653

REVENUE

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

REVENUE

The following table disaggregates our revenue by our two reportable segments (Canada and Australia) into major categories for the years ended December 31, 2023, 2022 and 2021 (in thousands):


	2023		2022		2021
Canada
Accommodation revenues	$	266,926	$	279,455	$	239,526
Mobile facility rental revenues	61,899		96,400		62,856
Food service and other services revenues	23,970		20,142		18,996

Total Canada revenues	352,795		395,997		321,378

Australia
Accommodation revenues	$	177,834	$	152,714	$	145,335
Food service and other services revenues	158,929		125,538		105,739
Total Australia revenues	336,763		278,252		251,074

Other
Other revenues	$	11,247	$	22,803	$	22,011



Total other revenues	11,247		22,803		22,011

Total revenues	$	700,805	$	697,052	$	594,463

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,
	2024		2025		2026		Thereafter		Total
Revenue expected to be recognized as of December 31, 2023	$	166,047	$	126,082	$	95,196	$	295,371	$	682,696

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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

SHARE-BASED COMPENSATION - Restricted Stock Awards and Deferred Stock Awards (Details) - Restricted Stock and Deferred Stock Awards - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Number of Awards (in shares)
Nonvested shares at the beginning of period (in shares)	39,032	84,857	105,091
Granted (in shares)	50,336	40,465	59,027
Vested (in shares)	(39,770)	(86,290)	(77,304)
Forfeited (in shares)			(1,957)
Nonvested shares at the end of period (in shares)	49,598	39,032	84,857
Weighted Average Grant Date Fair Value Per Share (in dollars per share)
Nonvested at beginning of period (in dollars per share)	$ 25.62	$ 21.76	$ 34.56
Granted (in dollars per share)	21.02	25.64	17.58
Vested (in dollars per share)	25.53	21.83	35.76
Forfeited (in dollars per share)			30.36
Nonvested at end of period (in dollars per share)	$ 21.02	$ 25.62	$ 21.76

PREFERRED SHARES - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands				3 Months Ended	12 Months Ended
	Dec. 13, 2022	Oct. 30, 2022	Apr. 02, 2018	Dec. 31, 2018	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Repurchases of preferred shares					$ 0	$ 30,553	$ 0
In-kind dividends					$ 0	$ 1,706	$ 1,925
Series A Preferred Stock
Class of Stock [Line Items]
Annual percentage dividend on liquidation preference			2.00%
Noralta \| Preferred Shares
Class of Stock [Line Items]
Stock repurchased during period, shares (in shares)		3,617
Repurchases of preferred shares		$ 30,600
Dividends payable		$ 100
Conversion of stock, shares converted (in shares)	5,425
Preferred shares converted to common shares (in shares)	1,504,539
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, shares outstanding (in shares)						0

DEBT

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

DEBT

As of December 31, 2023 and 2022, long-term debt consisted of the following (in thousands):


	December 31, 2023		December 31, 2022
Canadian term loan; weighted average interest rate of 8.2% for the twelve-month period ended December 31, 2023	$	—	$	29,532
U.S. revolving credit facility; weighted average interest rate of 10.2% for the twelve-month period ended December 31, 2023	—		—
Canadian revolving credit facility; weighted average interest rate of 8.3% for the twelve-month period ended December 31, 2023	65,554		101,147
Australian revolving credit facility; weighted average interest rate of 6.8% for the twelve-month period ended December 31, 2023	—		1,358
	65,554		132,037
Less: Unamortized debt issuance costs	—		1,084
Total debt	65,554		130,953
Less: Current portion of long-term debt, including unamortized debt issuance costs, net	—		28,448
Long-term debt, less current maturities	$	65,554	$	102,505

Scheduled maturities of long-term debt as of December 31, 2023 are as follows (in thousands):


	Year Ending December 31,
2024	$	—
2025	65,554

	$	65,554

Credit Agreement

As of December 31, 2023, our Credit Agreement (as then amended to date, the Credit Agreement) provided for: (i) a $200.0 million revolving credit facility scheduled to mature on September 8, 2025, 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; and (ii) a C$100.0 million term loan facility, which was fully repaid, on December 31, 2023 in favor of Civeo.

The Credit Agreement was amended effective March 31, 2023 to, among other things, change the benchmark interest rate for certain U.S. dollar-denominated loans in each of the Australian Revolving Facility, Canadian Revolving Facility, and U.S. Revolving Facility from London Inter-Bank Offered Rate to Term Secured Overnight Financing Rate (SOFR).

U.S. dollar amounts outstanding under the facilities provided by the Credit Agreement bear interest at a variable rate equal to the Term SOFR 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 net 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 net 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 net debt to Consolidated EBITDA. The future transition from CDOR as an interest rate benchmark is addressed in the Credit Agreement and at such time the transition from CDOR takes place, an alternate benchmark will be established based on the first alternative of the following, plus a benchmark replacement adjustment, Term Canadian Overnight Repo Rate Average (CORRA) and Compound CORRA.

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) specified acquisitions; (iv) certain restrictive agreements; (v) transactions with affiliates; and (vi) 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 a maximum net leverage ratio, defined as the ratio of total net debt to Consolidated EBITDA, of no greater than 3.00 to 1.00. 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, 2023.

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, 2023, we had seven lenders that were parties to the Credit Agreement, with total revolving commitments ranging from $16.1 million to $37.1 million. As of December 31, 2023, we had outstanding letters of credit of $0.3 million under the U.S. facility, zero under the Australian facility and $1.1 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://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

SEGMENT AND RELATED INFORMATION - Additional Information (Details)	12 Months Ended
	Dec. 31, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	2

RETIREMENT PLANS	12 Months Ended
RETIREMENT PLANS	Dec. 31, 2023
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 $10.2 million, $8.2 million and $7.6 million related to matching contributions under our various defined contribution plans during the years ended December 31, 2023, 2022 and 2021, 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 2023 was C$15,780. 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. 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$30,780 in 2023 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 10.5% of the base salary of an employee, capped at the legislated maximum contribution base which is indexed annually. Our Australian subsidiary makes no investment decisions on behalf of the employee and has no obligations other than to remit the defined contributions to the plan selected by each individual employee. U.S. Retirement Savings Plan We offer a defined contribution 401(k) retirement plan to substantially all of our U.S. employees. Participants may contribute from 1% to 75% of their base and cash incentive compensation (subject to Internal Revenue Service limitations), and we make matching contributions under this plan on the first 6% of the participant’s compensation (100% match of the first 4% employee contribution and 50% match on the next 2% contribution). Our matching contributions vest at a rate of 40% after two years of service and 20% per year for each of the employee’s next three years of service and are fully vested thereafter.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (l)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//715/tableOfContent

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (p)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480266/715-60-50-3

+ Details

SHARE REPURCHASE PROGRAMS AND DIVIDENDS - Schedule of Treasury Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity, Class of Treasury Stock [Line Items]
Shares repurchased (in shares)	374,753
Dollar-value of shares repurchased	$ 10,700	$ 11,634	$ 14,209	$ 4,649
Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Shares repurchased (in shares)		564,000	124,000	217,000
Average price paid per share (in dollars per share)		$ 20.60	$ 28.54	$ 21.38
Dollar-value of shares repurchased		$ 11,634	$ 3,540	$ 4,649

LEASES - Narrative (Details) $ in Millions	12 Months Ended
LEASES - Narrative (Details) $ in Millions	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Lessee, Lease, Description [Line Items]
Number of reportable segments \| segment	2
Finance lease, renewal term	10 years
Operating lease, renewal term	10 years
Options to terminate leases	90 days
Operating lease expense	$ 4.2	$ 5.0	$ 5.9
Finance lease, expense	0.2	$ 0.0	$ 0.0
Cash payment for leases	4.6
Finance lease, principal payments	0.1
Right-of-use asset obtained in exchange for operating lease and finance lease liability	$ 0.6
Minimum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract	1 year
Finance lease, term of contract	1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract	7 years
Finance lease, term of contract	7 years

ASSET RETIREMENT OBLIGATIONS - Asset Retirement Obligations (ARO) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligations	$ 16,215	$ 18,113	$ 13,745	$ 14,993
Less: Asset retirement obligations due within one year	2,576	4,550
Long-term asset retirement obligations	$ 13,639	$ 13,563

ASSET RETIREMENT OBLIGATIONS (Tables)

12 Months Ended

Dec. 31, 2023

Asset Retirement Obligation Disclosure [Abstract]

Schedule of Asset Retirement Obligations

AROs at December 31, 2023 and 2022 were (in thousands):


	2023		2022
Asset retirement obligations	$	16,215	$	18,113
Less: Asset retirement obligations due within one year (1)	2,576		4,550
Long-term asset retirement obligations	$	13,639	$	13,563


(1)			Classified as a current liability on the consolidated balance sheets, under the caption “Other current liabilities.” Balance at December 31, 2023 related to remediation work planned for 2024.

Schedule of Change in Asset Retirement Obligation

During the years ended December 31, 2023, 2022 and 2021, our ARO changed as follows (in thousands):


	2023		2022		2021
Balance as of January 1	$	18,113	$	13,745	$	14,993
Accretion of discount	1,104		1,830		1,429

Change in estimates of existing obligations	1,366		4,138		(763)
Settlement of obligations	(4,756)		(455)		(1,943)
Foreign currency translation	388		(1,145)		29
Balance as of December 31	$	16,215	$	18,113	$	13,745

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	12 Months Ended
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	Dec. 31, 2023
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 a suite of hospitality services for our guests in the natural resources industry, 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 these facilities, such as laundry, facility management and maintenance, water and wastewater treatment, power generation, communication systems, security and logistics. We also manage 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 two principal reportable business segments – Canada and Australia. 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.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Foreign currency losses	$ (0.5)	$ (0.1)	$ (0.3)
Maximum amount of future payments under guarantee arrangements	$ 1.9
Australia
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
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%
Sales Revenue, Net \| Suncor Energy \| 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 \| Fortescue Metals Group Ltd \| Customer Concentration Risk
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk percentage	10.00%	10.00%	10.00%
Performance Shares
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of participant target performance share award		126.00%	150.00%
Minimum \| Performance Shares
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of participant target performance share award	0.00%		0.00%
Minimum \| Civeo Plan \| Performance Shares
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of participant target performance share award	0.00%	0.00%
Maximum \| Performance Shares
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of participant target performance share award	200.00%		200.00%
Maximum \| Civeo Plan \| Performance Shares
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of participant target performance share award	200.00%	200.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2023
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 raw materials and supplies and materials for the operation of remote accommodation facilities. Inventories also include food, raw materials, labor, subcontractor charges 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. 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 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, asset groups are reviewed 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 next 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 future 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, 2023 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. 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, 2023, 2022 and 2021, 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, 2023, 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. 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 and represent 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 For the majority of our operations and contracts, 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. 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 range from several months to multiple 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, 2023, each of Suncor Energy and Fortescue Metals Group Ltd. accounted for more than 10% of our revenues. For the year ended December 31, 2022, 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, 2021, each of Suncor Energy, Imperial Oil and Fortescue Metals Group Ltd. 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 key employees and non-employee directors participate. We measure the cost of service-based equity awards (typically restricted share awards and deferred share awards) based on the grant-date fair value of the award. The grant-date 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 or non-employee director is required to provide service in exchange for the awards, usually the vesting period. We also grant performance share awards. For awards granted in 2023 and 2022, awards are earned in amounts between 0% and 200% of the participant’s target performance share award, based on (i) the payout percentage associated with Civeo’s relative total shareholder return (TSR) rank among a peer group of other companies and (ii) the payout percentage associated with Civeo's cumulative operating cash flow over the performance period relative to a preset target. Awards granted in 2021 are earned in amounts between 0% and 200% of the participant’s target performance share award, based on (i) the payout percentage associated with Civeo’s relative TSR rank among a peer group of other companies and (ii) the payout percentage associated with Civeo's cumulative free cash flow over the performance period relative to a preset target. 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 operating cash flow and 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 of such performance conditions. The resulting costs for each portion of the award are 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 share units. 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 phantom share units are entitled to a lump sum cash payment equal to the fair market value of a common share on the vesting 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.
Guarantees	Guarantees Substantially all of our Canadian and United States (U.S.) subsidiaries are guarantors under our Credit Agreement. See Note 11 – Debt for further discussion. 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, 2023, the maximum potential amount of future payments that we could be required to make under these guarantee agreements (including letters of credit) was approximately $1.9 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 (U.S. GAAP) requires the use of estimates and assumptions by management in determining the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Examples of a few such estimates include estimates of the amount and timing of costs to be incurred for AROs, any valuation allowance recorded on net deferred tax assets, 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, insurance 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 (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 November 2023, the FASB issued Accounting Standards Update (ASU) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, which updates reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. The amendments are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied retrospectively to all prior periods presented in the financial statements. We are currently evaluating this ASU to determine its impact on our disclosures. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, which enhances effective tax rate reconciliation disclosure requirements and provides clarity to the disclosures of income taxes paid, income before taxes and provision for income taxes. The amendments are effective for fiscal years beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The amendments in this update should be applied on a prospective basis. Retrospective application is permitted. We are currently evaluating this ASU to determine its impact on our disclosures.

DETAILS OF SELECTED BALANCE SHEET ACCOUNTS - Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounts receivable, net:
Total accounts receivable	$ 143,421	$ 120,054
Allowance for credit losses	(199)	(299)
Total accounts receivable, net	143,222	119,755
Trade
Accounts receivable, net:
Total accounts receivable	93,527	65,563
Unbilled revenue
Accounts receivable, net:
Total accounts receivable	46,331	52,547
Other
Accounts receivable, net:
Total accounts receivable	$ 3,563	$ 1,944

INCOME TAXES - Changes in Valuation Allowance (Details) - Federal and State NOLs - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Deferred Tax Assets, Changes in Valuation Allowance
Beginning balance	$ (82,905)	$ (85,351)
Change in income tax provision	2,556	(153)
Other change	1,767	(1,178)
Foreign currency translation	(187)	3,777
Ending balance	$ (78,769)	$ (82,905)

LEASES

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

LEASES

We have operating and finance leases covering certain land locations and various office facilities and equipment in our two reportable business segments. Our leases have remaining lease terms of one year to seven 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 $4.2 million, $5.0 million and $5.9 million under operating leases for the years ended December 31, 2023, 2022 and 2021, respectively. The components of lease expense were $0.2 million, $0.0 million and $0.0 million under finance leases for the years ended December 31, 2023, 2022 and 2021, respectively. Included in the measurement of lease liabilities, we paid $4.6 million and $0.1 million in cash related to operating leases and finance leases during the year ended December 31, 2023, respectively. Right-of-use assets obtained in exchange for new lease obligations during the year ended December 31, 2023 were $0.6 million.

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


	December 31, 2023			December 31, 2022
Operating leases
Operating lease right-of-use assets	$	12,286		$	15,722

Other current liabilities	$	3,594		$	3,792
Operating lease liabilities	9,264			12,771
Total operating lease liabilities	$	12,858		$	16,563

Finance leases
Other noncurrent assets	$	760		$	—

Other current liabilities	$	164		$	—
Other noncurrent liabilities	613			—
Total finance lease liabilities	$	777		$	—

Weighted average remaining lease term
Operating leases	4.1 years			4.8 years
Finance leases	4.3 years			—
Weighted average discount rate
Operating leases	5.5		%	5.4		%
Finance leases	6.6		%	—		%

Maturities of lease liabilities at December 31, 2023, were as follows (in thousands):


Year Ending December 31,	Operating Leases		Finance Leases		Total
2024	$	4,341	$	222	$	4,563
2025	3,366		222		3,588
2026	2,721		222		2,943
2027	2,548		216		2,764
2028	1,238		63		1,301
Thereafter	554		—		554
Total lease payments	14,768		945		15,713
Less imputed interest	1,910		168		2,078
Total	$	12,858	$	777	$	13,635

LEASES

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


	December 31, 2023			December 31, 2022
Operating leases
Operating lease right-of-use assets	$	12,286		$	15,722

Other current liabilities	$	3,594		$	3,792
Operating lease liabilities	9,264			12,771
Total operating lease liabilities	$	12,858		$	16,563

Finance leases
Other noncurrent assets	$	760		$	—

Other current liabilities	$	164		$	—
Other noncurrent liabilities	613			—
Total finance lease liabilities	$	777		$	—

Weighted average remaining lease term
Operating leases	4.1 years			4.8 years
Finance leases	4.3 years			—
Weighted average discount rate
Operating leases	5.5		%	5.4		%
Finance leases	6.6		%	—		%

Maturities of lease liabilities at December 31, 2023, were as follows (in thousands):


Year Ending December 31,	Operating Leases		Finance Leases		Total
2024	$	4,341	$	222	$	4,563
2025	3,366		222		3,588
2026	2,721		222		2,943
2027	2,548		216		2,764
2028	1,238		63		1,301
Thereafter	554		—		554
Total lease payments	14,768		945		15,713
Less imputed interest	1,910		168		2,078
Total	$	12,858	$	777	$	13,635

VALUATION ACCOUNTS

12 Months Ended

Dec. 31, 2023

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, 2023:
Allowance for credit losses on accounts receivable	$	299	$	79	$	(181)	$	2	$	199
Valuation allowance for deferred tax assets	82,905		(2,556)		(1,767)		187		78,769

Year Ended December 31, 2022:
Allowance for credit losses on accounts receivable	$	361	$	115	$	(162)	$	(15)	$	299
Valuation allowance for deferred tax assets	85,351		153		1,178		(3,777)		82,905

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