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Accrued expenses and other current liabilities

3,335,682

3,369,727

Current liabilities:

Trade accounts payable

550,393

438,344

124,925

125,599

Deferred income taxes

78,844

79,661

Current portion of long term debt

7,935

6,500

Total current liabilities

762,097

650,104

Long-term obligations:

Long-term debt, net

978,899

1,250,089

Deferred income taxes

241,116

261,448

Other liabilities

15,302

22,164

Stockholders' equity:

Common stock, $0.01 par value per share; 500,000 shares authorized, 101,913 and 101,563 issued and outstanding, respectively

1,019

1,016

Preferred stock, $0.01 par value per share; 100,000 shares authorized, no shares issued and outstanding

Additional paid-in capital

1,644,406

1,625,900

Retained deficit

(266,735)

(418,830)

Accumulated other comprehensive loss

(40,422)

(22,164)

Total stockholders' equity

1,338,268

1,185,922

Total liabilities and stockholders' equity

$ 3,335,682

$ 3,369,727

[1]	Net of accumulated impairment losses of $240.9 million and $69.0 million in the U.S and Canadian segments, respectively.

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2013	Dec. 31, 2012
Consolidated Balance Sheets [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	101,913,000	101,563,000
Common stock, shares outstanding	101,913,000	101,563,000
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

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

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Consolidated Statements of Income [Abstract]

Sales

$ 5,230,792

$ 5,570,858

$ 4,832,423

Cost of sales

4,276,033

4,557,115

4,124,271

Gross profit

954,759

1,013,743

708,152

Selling, general and administrative expenses

642,994

606,753

513,563

Operating income

311,765

406,990

194,589

Other (expense) income:

Interest expense

(60,685)

(112,519)

(136,844)

Loss on early extinguishment of debt

(113,961)

Expenses associated with refinancing

(5,136)

(1,685)

(9,450)

Change in fair value of derivative instruments

4,731

2,186

7,044

Other, net

(13,764)

685

429

Income before income taxes

236,911

181,696

55,768

Income tax expense

84,816

63,738

26,784

Net income

$ 152,095

$ 117,958

$ 28,984

Basic earnings per common share

$ 1.50

^[1]

$ 1.22

^[1]

$ 0.34

Diluted earnings per common share

$ 1.48

^[1]

$ 1.22

^[1]

$ 0.34

Weighted-average common shares, basic

101,712

96,465

84,417

Weighted-average common shares, diluted

102,522

96,925

84,655

[1]	Net income and EPS do not add across due to rounding and transactions resulting in differing weighted average shares outstanding on a quarterly basis.

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 152,095	$ 117,958	$ 28,984
Other comprehensive (loss) income before tax
Foreign currency translation adjustments	(20,348)	4,149	(7,616)
Pension related adjustments	130	25	635
Total other comprehensive (loss) income before tax	(20,218)	4,174	(6,981)
Income tax benefit (expense) related to components of other comprehensive income	1,960	(198)	697
Other comprehensive (loss) income, net of tax	(18,258)	3,976	(6,284)
Comprehensive income	$ 133,837	$ 121,934	$ 22,700

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

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-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e565-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 10, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A7
-Appendix A

Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Name Emerging Issues Task Force (EITF)
-Number 87-21
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 19
-Article 5

Reference 14: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Research Bulletin (ARB)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9

Before tax and net of reclassification adjustments of the change in the balance sheet adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency of the reporting entity. Also includes the following: gain (loss) on foreign currency forward exchange contracts; foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; and gain (loss) on a derivative instrument or nonderivative financial instrument that may give rise to a foreign currency transaction gain (loss) that has been designated and qualified as a hedging instrument for hedging of the foreign currency exposure of a net investment in a foreign operation.

Tax effect of other comprehensive income (loss) attributable to both parent entity and noncontrolling interest.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 109
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
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-Paragraph 31
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 24
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(3)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Principles Board Opinion (APB)
-Number 12
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
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-Article 3

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings (Deficit) [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Balance at Dec. 31, 2010	$ 844	$ 1,274,560	$ (565,790)	$ (19,856)	$ 689,758
Balance, shares at Dec. 31, 2010	84,404
Net income			28,984		28,984
Foreign currency translation, net of tax				(6,919)	(6,919)
Pension related adjustments, net of tax				635	635
Vesting of restricted stock		1			1
Vesting of restricted stock, shares	23
Forfeited dividends on forfeited unvested restricted stock			15		15
Equity-based compensation expense		8,385			8,385
Exercise of stock options		3			3
Balance at Dec. 31, 2011	$ 844	1,282,949	(536,791)	(26,140)	720,862
Balance, shares at Dec. 31, 2011	84,427
Net income			117,958		117,958
Foreign currency translation, net of tax				3,793	3,793
Pension related adjustments, net of tax				183	183
Common stock issued in initial public offering	$ 171	333,171			333,342
Common stock issued in initial public offering, shares	17,046
Vesting of restricted stock, shares	22
Forfeited dividends on forfeited unvested restricted stock			3		3
Equity-based compensation expense		8,475			8,475
Exercise of stock options	$ 1	676			677
Exercise of stock options, shares	68
Tax benefit on equity-based compensation		629			629
Balance at Dec. 31, 2012	$ 1,016	1,625,900	(418,830)	(22,164)	1,185,922
Balance, shares at Dec. 31, 2012	101,563
Net income			152,095		152,095
Foreign currency translation, net of tax				(18,344)	(18,344)
Pension related adjustments, net of tax				86	86
Vesting of restricted stock, shares	135
Shares withheld for taxes		(1,512)			(1,512)
Shares withheld for taxes, shares	(48)
Forfeited restricted stock		(7)			(7)
Equity-based compensation expense		15,488			15,488
Exercise of stock options	$ 3	3,282			3,285
Exercise of stock options, shares	263
Tax benefit on equity-based compensation		1,261			1,261
Other		(6)			(6)
Balance at Dec. 31, 2013	$ 1,019	$ 1,644,406	$ (266,735)	$ (40,422)	$ 1,338,268
Balance, shares at Dec. 31, 2013	101,913

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Operating activities
Net income	$ 152,095	$ 117,958	$ 28,984
Adjustments to reconcile net income to net cash provided by (used in) operations:
Depreciation and amortization	22,338	18,585	17,046
Amortization of intangibles	52,072	49,466	50,652
Equity-based compensation expense	15,488	8,475	8,385
Deferred income tax benefit	(19,823)	(20,432)	(16,362)
Amortization of debt issuance costs	5,777	8,782	10,456
Write off of debt issuance costs	2,865	1,685	9,450
Loss on early extinguishment of debt		113,961
(Decrease) increase in LIFO reserve	(20,180)	(24,140)	73,703
Change in fair value of derivative instruments	(4,731)	(2,186)	(7,044)
Provision for uncollectible accounts	(298)	2,428	433
Foreign currency losses (gains)	12,913	(766)	(604)
Other non-cash items	1,137	7,727	4,629
Changes in operating assets and liabilities:
Accounts receivable	2,069	22,399	(177,744)
Inventories	4,479	26,674	(182,173)
Income taxes payable	(7,057)	(12,593)	45,333
Other current assets	(8,738)	(681)	(35)
Accounts payable	117,320	(84,380)	36,550
Accrued expenses and other current liabilities	(4,138)	7,110	(4,556)
Net cash provided by (used in) operations	323,588	240,072	(102,897)
Investing activities
Purchases of property, plant and equipment	(22,068)	(26,189)	(18,056)
Proceeds from the disposition of property, plant and equipment	4,583	2,272	3,087
Acquisitions, net of cash acquired of $2,433, $0 and $2,036	(46,794)	(152,367)	(39,865)
Proceeds from the sale of assets held for sale			10,594
Other investment and notes receivable transactions	(5,130)	(6,755)	(3,795)
Net cash used in investing activities	(69,409)	(183,039)	(48,035)
Financing activities
Proceeds from the sale of common stock		333,342
Payments on revolving credit facilities	(2,150,188)	(2,422,136)	(2,237,449)
Proceeds from revolving credit facilities	1,738,213	2,571,835	2,387,877
Purchases and redemption of senior secured notes		(1,135,223)
Proceeds from issuance of term loan	150,000	643,500
Payments on long term obligations	(6,859)	(33,081)
Debt issuance costs paid	(697)	(20,038)	(9,836)
Proceeds from exercise of stock options	3,285	677	3
Tax benefit on stock options	1,261	629
Other financing activities	(6)	3
Net cash (used in) provided by financing activities	(264,991)	(60,492)	140,595
Decrease in cash	(10,812)	(3,459)	(10,337)
Effect of foreign exchange rate on cash	(1,090)	(5,578)	262
Cash - beginning of year	37,090	46,127	56,202
Cash - end of year	25,188	37,090	46,127
Supplemental disclosures of cash flow information:
Cash paid for interest	55,484	104,846	124,039
Cash paid for (received from) income taxes	$ 110,104	$ 96,526	$ (1,051)

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Consolidated Statements of Cash Flows [Abstract]
Acquisitions, cash acquired	$ 2,433	$ 0	$ 2,036

Significant Accounting Policies	12 Months Ended
Significant Accounting Policies	Dec. 31, 2013
Significant Accounting Policies [Abstract]
Significant Accounting Policies	NOTE 1—SIGNIFICANT ACCOUNTING POLICIES Business Operations: MRC Global Inc. is a holding company headquartered in Houston, Texas. Our wholly owned subsidiaries are global distributors of pipe, valves, fittings and related products and services across each of the upstream (exploration, production and extraction of underground oil and gas), midstream (gathering and transmission of oil and gas, gas utilities, and the storage and distribution of oil and gas) and downstream (crude oil refining, petrochemical processing and general industrials) sectors. We have branches in principal industrial, hydrocarbon producing and refining areas throughout the United States, Canada, Europe, Asia and Australasia. Our products are obtained from a broad range of suppliers. Basis of Presentation: The consolidated financial statements include the accounts of MRC Global Inc. and its wholly owned and majority owned subsidiaries (collectively referred to as the “Company” or by such terms as “we,” “our” or “us”). All material intercompany balances and transactions have been eliminated in consolidation. Use of Estimates: The preparation of financial statements in conformity with the accounting principles generally accepted in the United States of America requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period. We believe that our most significant estimates and assumptions are related to estimated losses on accounts receivable, the last-in, first-out (“LIFO”) inventory costing methodology, estimated realizable value on excess and obsolete inventories, goodwill, intangible assets, deferred taxes and self-insurance programs. Actual results could differ materially from those estimates. Cash Equivalents: We consider all highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents. Allowance for Doubtful Accounts: We evaluate the adequacy of the allowance for losses on receivables based upon periodic evaluation of accounts that may have a higher credit risk using information available about the customer and other relevant data. This formal analysis is inherently subjective and requires us to make significant estimates of factors affecting doubtful accounts, including customer specific information, current economic conditions, volume, growth and composition of the account, and other factors such as financial statements, news reports and published credit ratings. The amount of the allowance for the remainder of the trade balance is not evaluated individually but is based upon historical loss experience. Because this process is subjective and based on estimates, ultimate losses may differ from those estimates. Receivable balances are written off when we determine that the balance is uncollectible. Subsequent recoveries, if any, are credited to the allowance when received. The provision for losses on receivables is included in selling, general and administrative expenses in the accompanying consolidated statements of income. Inventories: Our inventories are valued at the lower of cost, principally LIFO, or market. We believe that the use of LIFO results in a better matching of costs and revenues. This practice excludes certain inventories, which are held outside of the United States, approximating $264.0 million and $318.9 million at December 31, 2013 and 2012, respectively, which are valued at the lower of weighted-average cost or market. Our inventory is substantially comprised of finished goods. Allowances for excess and obsolete inventories are determined based on analyses comparing inventories on hand to sales trends. The allowance, which totaled $23.2 million and $19.0 million at December 31, 2013 and 2012, respectively, is the amount deemed necessary to reduce the cost of the inventory to its estimated realizable value. Debt Issuance Costs: We defer costs directly related to obtaining financing and amortize them over the term of the indebtedness on a straight-line basis. The use of the straight-line method does not produce results that are materially different from those which would result from the use of the effective interest method. These amounts are reflected in the consolidated statement of operations as a component of interest expense. Debt issuance costs are reflected in other assets and totaled $19.1 million and $25.2 million, net of accumulated amortization of $5.7 million and $4.8 million, at December 31, 2013 and 2012, respectively. Fixed Assets: Land, buildings and equipment are stated on the basis of cost. For financial statement purposes, depreciation is computed over the estimated useful lives of such assets principally by the straight-line method; accelerated depreciation and cost recovery methods are used for income tax purposes. Leasehold improvements are amortized using the straight-line method over the shorter of the remaining lease term or the estimated useful life of the improvements. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and any gain or loss is reflected in income for the period. Maintenance and repairs are charged to expense as incurred. Goodwill and Other Intangible Assets: Goodwill represents the excess of cost over the fair value of net assets acquired. Goodwill is tested for impairment annually or more frequently if circumstances indicate that impairment may exist. We evaluate goodwill for impairment at three reporting units that mirror our three segments (U.S., Canada and International). The goodwill impairment test compares the carrying value of the reporting unit that has the goodwill with the estimated fair value of that reporting unit. If the carrying value is more than the estimated fair value, we then calculate the implied fair value of goodwill by deducting the fair value of all tangible and intangible net assets of the reporting unit from the estimated fair value of the reporting unit. Impairment losses are recognized to the extent that recorded goodwill exceeds implied goodwill. Our impairment methodology uses discounted cash flow and multiples of cash earnings valuation techniques, as well as valuation comparisons to similar businesses. These valuation methods require us to make certain assumptions and estimates regarding future operating results, the extent and timing of future cash flows, working capital, sales prices, profitability, discount rates and growth trends. While we believe that these assumptions and estimates are reasonable, the actual results may differ materially from the projected results. Intangible assets with indefinite useful lives are tested for impairment annually or more frequently if circumstances indicate that impairment may exist. This test compares the carrying value of the indefinite lived intangible assets with their estimated fair value. If the carrying value is more than the estimated fair value, impairment losses are recognized in an amount equal to the excess of the carrying value over the estimated fair value. Our impairment methodology uses discounted cash flow and estimated royalty rate valuation techniques. These valuation methods require us to make certain assumptions and estimates regarding future operating results, sales prices, discount rates and growth trends. While we believe that such assumptions and estimates are reasonable, the actual results may differ materially from the projected results. Other intangible assets primarily include trade names, customer bases and noncompetition agreements resulting from business acquisitions. Other intangible assets are recorded at fair value at the date of acquisition. Amortization is provided using the straight-line method over their estimated useful lives, ranging from two to twenty years. The carrying value of amortizable intangible assets is subject to an impairment test when events or circumstances indicate a possible impairment. When events or circumstances indicate a possible impairment, we assess recoverability from future operations using undiscounted cash flows derived from the lowest appropriate asset group. If the carrying value exceeds the undiscounted cash flows, an impairment charge would be recognized to the extent that the carrying value exceeds the fair value, which is determined based on a discounted cash flow analysis. While we believe that assumptions and estimates utilized in the impairment analysis are reasonable, the actual results may differ materially from the projected results. These impairments are determined prior to performing our goodwill impairment test. Derivatives and Hedging: From time to time, we utilize interest rate swaps to reduce our exposure to potential interest rate increases. Changes in the fair values of our derivative instruments are based upon independent market quotes. We do not designate our interest rate swaps as hedging instruments; therefore, we record our interest rate swaps on the consolidated balance sheets at fair value, with the gains and losses recognized in earnings in the period of change. We utilize foreign exchange forward contracts (exchange contracts) and options to manage our foreign exchange rate risks resulting from purchase commitments and sales orders. Changes in the fair values of our exchange contracts are based upon independent market quotes. We do not designate our exchange contracts as hedging instruments; therefore, we record our exchange contracts on the consolidated balance sheets at fair value, with the gains and losses recognized in earnings in the period of change. Fair Value: We measure certain of our assets and liabilities at fair value on a recurring basis. Fair value is an exit price, representing the amount that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or a liability. A three-tier fair value hierarchy is established as a basis for considering such assumptions for inputs used in the valuation methodologies to measuring fair value: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Level 2: Significant observable inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, and other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs for the asset or liability. Unobservable inputs reflect our own assumptions about the assumptions that market participants would use in pricing an asset or liability (including all assumptions about risk). Certain assets and liabilities are measured at fair value on a nonrecurring basis. Our assets and liabilities measured at fair value on a nonrecurring basis include property, plant and equipment, goodwill and other intangible assets. We do not measure these assets at fair value on an ongoing basis; however, these assets are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment. Our impairment methodology for goodwill and other intangible assets uses both (i) a discounted cash flow analysis requiring certain assumptions and estimates to be made regarding the extent and timing of future cash flows, discount rates and growth trends and (ii) valuation based on our publicly traded common stock. As all of the assumptions employed to measure these assets and liabilities on a nonrecurring basis are based on management’s judgment using internal and external data, these fair value determinations are classified as Level 3. We have not elected to apply the fair value option to any of our eligible financial assets and liabilities. Insurance: We are self-insured for physical damage to automobiles that we own, lease or rent, and product warranty and recall liabilities. In addition, we maintain a nonmaterial deductible program as they relate to insurance for property, stock throughput, inventory, workers’ compensation, automobile liability, asbestos claims, general liability claims (including, among others, certain product liability claims for property damage, death or injury) and employee healthcare. These programs have deductibles ranging from $25,000 to $1.0 million and are secured by various letters of credit totaling $6.5 million. Our estimated liability and related expenses for claims are based in part upon estimates that insurance carriers, third-party administrators and actuaries provide. We believe that insurance reserves are sufficient to cover outstanding claims, including those incurred but not reported as of the estimation date. Further, we maintain a commercially reasonable umbrella/excess policy that covers liabilities in excess of the primary limits. We do not have excess coverage for physical damage to automobiles that we own, lease or rent, and product warranty and recall liabilities. Our accrued liabilities related to all deductibles/retentions under insurance programs (other than employee healthcare) were $7.8 million and $5.9 million as of December 31, 2013 and 2012, respectively. In the area of employee healthcare, we have a commercially reasonable excess stop loss protection on a per person per year basis. Reserves for self-insurance accrued liabilities for employee healthcare were $3.3 million and $4.0 million as of December 31, 2013 and 2012, respectively. Income Taxes: We use the liability method for determining our income taxes, under which current and deferred tax liabilities and assets are recorded in accordance with enacted tax laws and rates. Under this method, the amounts of deferred tax liabilities and assets at the end of each period are determined using the tax rate expected to be in effect when taxes are actually paid or recovered. Deferred tax assets and liabilities are recorded for differences between the financial reporting and tax bases of assets and liabilities using the tax rate expected to be in effect when the taxes will actually be paid or refunds received. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period that includes the enactment date. A valuation allowance to reduce deferred tax assets is established when it is more likely than not that some portion or all of the deferred tax assets will not be realized. In determining the need for valuation allowances and our ability to utilize our deferred tax assets, we consider and make judgments regarding all the available positive and negative evidence, including the timing of the reversal of deferred tax liabilities, estimated future taxable income, ongoing, prudent and feasible tax planning strategies and recent financial results of operations. The amount of the deferred tax assets considered realizable however could be adjusted in the future if objective negative evidence in the form of cumulative losses is no longer present in certain jurisdictions and additional weight may be given to subjective evidence such as our projections for growth. Our tax provision is based upon our expected taxable income and statutory rates in effect in each country in which we operate. We are subject to the jurisdiction of numerous domestic and foreign tax authorities, as well as to tax agreements and treaties among these governments. Determination of taxable income in any jurisdiction requires the interpretation of the related tax laws and regulations and the use of estimates and assumptions regarding significant future events such as the amount, timing and character of deductions, permissible revenue recognition methods under the tax law and the sources and character of income and tax credits. Changes in tax laws, regulations, agreements and treaties, foreign currency exchange restrictions or our level of operations or profitability in each taxing jurisdiction could have an impact on the amount of income taxes we provide during any given year. A tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including any related appeals or litigation processes, on the basis of the technical merits. We adjust these liabilities when our judgment changes as a result of the evaluation of new information not previously available. Because of the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from our current estimate of the tax liabilities. These differences will be reflected as increases or decreases to income tax expense in the period in which the new information is available. We classify interest and penalties related to unrecognized tax positions as income taxes in our financial statements. We intend to permanently reinvest certain earnings of our foreign subsidiaries in operations outside the U.S., and accordingly, we have not provided for U.S. income taxes on such earnings. Foreign Currency Translation and Transactions: The functional currency of our foreign operations is the applicable local currency. The cumulative effects of translating the balance sheet accounts from the functional currency into the U.S. dollar at current exchange rates are included in accumulated other comprehensive income. The balance sheet accounts (with the exception of stockholders’ equity) are translated using current exchange rates as of the balance sheet date. Stockholders’ equity is translated at historical exchange rates and revenue and expense accounts are translated using a weighted-average exchange rate during the year. Gains or losses resulting from foreign currency transactions are recognized in the consolidated statements of income. Equity-Based Compensation: Our equity-based compensation consisted and consists of (i) restricted common units and profit units of PVF Holdings LLC, our former parent, and (ii) restricted stock and nonqualified stock options of our Company. The cost of employee services received in exchange for an award of an equity instrument is measured based on the grant-date fair value of the award. Our policy is to expense equity-based compensation using the fair-value of awards granted, modified or settled. Restricted common units, profit units and restricted stock are credited to equity as they are expensed over their vesting periods based on the grant date value of the shares vested. The fair value of nonqualified stock options is measured on the grant date of the related equity instrument using the Black-Scholes option-pricing model and is recognized as compensation expense over the applicable vesting period. Revenue Recognition: Sales to our principal customers are made pursuant to agreements that normally provide for transfer of legal title and risk upon shipment. We recognize revenue as products are shipped, title has transferred to the customer and the customer assumes the risks and rewards of ownership, and collectability is reasonably assured. Freight charges billed to customers are reflected in revenues. Return allowances are estimated using historical experience. Amounts received in advance of shipment are deferred and recognized as revenue when the products are shipped and title transfers. Sales taxes collected from customers and remitted to governmental authorities are accounted for on a net basis and therefore are excluded from net sales in the accompanying consolidated statements of income. Cost of Sales: Cost of sales includes the cost of inventory sold and related items, such as vendor rebates, inventory allowances, and shipping and handling costs associated with inbound and outbound freight, as well as depreciation and amortization and amortization of intangible assets. Certain purchasing costs and warehousing activities (including receiving, inspection and stocking costs), as well as general warehousing expenses, are included in selling, general and administrative expenses and not in cost of sales. As such, our gross profit may not be comparable to others that may include these expenses as a component of cost of sales. Purchasing and warehousing costs approximated $37.2 million, $34.8 million, and $27.3 million for the years ended December 31, 2013, 2012 and 2011, respectively. Earnings per Share: Basic earnings per share are computed based on the weighted-average number of common shares outstanding, excluding any dilutive effects of unexercised stock options and unvested restricted stock. Diluted earnings per share are computed based on the weighted-average number of common shares outstanding including any dilutive effect of unexercised stock options and unvested restricted stock. The dilutive effect of unexercised stock options and unvested restricted stock is calculated under the treasury stock method. Concentration of Credit Risk: Most of our business activity is with customers in the energy and industrial sectors. In the normal course of business, we grant credit to these customers in the form of trade accounts receivable. These receivables could potentially subject us to concentrations of credit risk; however, we minimize this risk by closely monitoring extensions of trade credit. We generally do not require collateral on trade receivables. We have a broad customer base doing business in many regions of the world. During 2013, 2012 and 2011, we did not have sales to any one customer in excess of 10% of gross sales. At those respective year-ends, no individual customer balances exceeded 10% of gross accounts receivable. We have a broad supplier base, sourcing our products in most regions of the world. During 2013, 2012 and 2011, we did not have purchases from any one vendor in excess of 10% of our gross purchases. At those respective year-ends no individual vendor balance exceeded 10% of gross accounts payable. We maintain the majority of our cash and cash equivalents with several financial institutions. These financial institutions are located in many different geographical regions with varying economic characteristics and risks. Deposits held with banks may exceed insurance limits. We believe the risk of loss associated with our cash equivalents to be remote. Segment Reporting: We have three operating and reportable segments, the United States of America, Canada, and International, which includes Europe, Asia, and Australasia. These segments represent our global business of providing pipe, valves, fittings and related products and services to the energy and industrial sectors, across each of the upstream (exploration, production and extraction of underground oil and gas), midstream (gathering and transmission of oil and gas, gas utilities, and the storage and distribution of oil and gas) and downstream (crude oil refining and petrochemical processing) markets, through our distribution operations located throughout the world. Reclassifications: Certain immaterial amounts in the prior years’ balance sheet and statements of cash flows have been reclassified to conform to the current year’s presentation. Recently Issued Accounting Standards: In February 2013, the Financial Accounting Standards Board (“FASB”) issued Standards Update No. 2013-05, Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity (ASU 2013-05), which specifies that a cumulative translation adjustment (“CTA”) should be released into earnings when an entity ceases to have a controlling financial interest in a subsidiary or group of assets within a consolidated foreign entity and the sale or transfer results in the complete or substantially complete liquidation of the foreign entity. For sales of an equity method investment that is a foreign entity, a pro rata portion of CTA attributable to the investment would be recognized in earnings upon sale of the investment. When an entity sells either a part or all of its investment in a consolidated foreign entity, CTA would be recognized in earnings only if the sale results in the parent no longer having a controlling financial interest in the foreign entity. CTA would be recognized in earnings in a business combination achieved in stages. ASU 2013-05 will be effective for us prospectively in 2014. We do not expect this update to have a material impact on our financial statements. In July 2013, the FASB issued Standards Update No. 2013-11, Income Taxes (Topic 740), Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The objective of this update is to eliminate the diversity in practice in the presentation of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. Under this guidance, an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward, except in certain circumstances. This update does not require any new disclosures and is effective for annual and interim periods beginning after December 31, 2013. The amendments in this update will be applied prospectively to all unrecognized tax benefits that exist at the effective date. We do not expect this update to have a material impact on our financial statements.

Acquisitions

12 Months Ended

Dec. 31, 2013

Acquisitions [Abstract]

Acquisitions

NOTE 2—ACQUISITIONS

In 2013, we completed two acquisitions for an aggregate purchase price of $46.8 million. These acquisitions included:

The assets and operations of Dan H. Brown, Inc., d/b/a Flow Control Products (“Flow Control”). Flow Control is a leading provider in pneumatic and electro-hydraulic valve automation packages and related field support to the Permian Basin.

The assets and operations of Flangefitt Stainless Ltd. Flangefitt, headquartered in Warrington, England, with a location in Aberdeen, Scotland, is a leading pipe, flange and fitting (PFF) distributor in the oil and gas industry in England.

The preliminary purchase price allocation of each acquisition was based on preliminary valuations. Our estimates and assumptions are subject to change upon the receipt and review of final valuations. The goodwill recognized for the acquisitions was primarily attributable to the expected profitability of the acquired businesses and synergies expected to arise after the acquisitions. Goodwill recorded in connection with these transactions is deductible. The consideration paid for these acquisitions has been allocated as follows (in millions):


	2013
	Acquisitions
Net assets acquired:
Current assets, net of cash acquired	$ 18.6
Other long-term assets	1.8
Customer base intangibles	9.7
Other intangible assets	2.3
Goodwill	24.7
Current liabilities	(9.8)
Other long-term liabilities	(0.5)
Cash consideration paid	$ 46.8

In 2012, we completed three acquisitions for an aggregate purchase price of $152.4 million. These acquisitions included OneSteel Piping Systems Australia (“MRC PSA”), a PVF distributor supplying the oil and gas, mining and mineral processing industries in Australia, the assets of Chaparral Supply with support in the Mississippian Lime formation in Oklahoma and Kansas, and the assets and operations of Production Specialty Services, Inc. (“PSS”), a PVF distributor in the Permian Basin and Eagle Ford shale regions of Texas and New Mexico.

In 2011, we completed two acquisitions for an aggregate purchase price of $41.9 million. These acquisitions included Stainless Pipe and Fittings Australia Pty. Ltd. (“MRC SPF”), a distributor of stainless steel piping products, and certain assets and operations of Valve Systems and Controls (“VSC”), a Houston, Texas based company specializing in valve automation.

The impact of these transactions was not material to our financial statements in each of these respective years. Accordingly, pro forma information has not been presented.

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

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-Number 88-16
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-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph F4
-Subparagraph e
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Accounts Receivable

12 Months Ended

Dec. 31, 2013

Accounts Receivable [Abstract]

Accounts Receivable

NOTE 3—ACCOUNTS RECEIVABLE

The rollforward of our allowance for doubtful accounts is as follows (in thousands):


	December 31,
	2013	2012	2011
Allowance for doubtful accounts
Beginning balance	$ 5,270	$ 4,815	$ 4,451
Net Charge-offs	(2,435)	(1,973)	(69)
Provision	(298)	2,428	433
Ending balance	$ 2,537	$ 5,270	$ 4,815

Our accounts receivable is also presented net of sales returns and allowances. Those allowances approximated $3.1 million and $3.3 million at December 31, 2013 and 2012, respectively.

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

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-Number 01-6
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-Subparagraph d
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-Number 210
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Property, Plant and Equipment [Abstract]

Inventories

12 Months Ended

Dec. 31, 2013

Inventories [Abstract]

Inventories

NOTE 4—INVENTORIES

The composition of our inventory is as follows (in thousands):


	December 31,
	2013	2012
Finished goods inventory at average cost:
Energy carbon steel tubular products	$ 362,449	$ 387,609
Valves, fittings, flanges and all other products	763,119	752,630
	1,125,568	1,140,239
Less: Excess of average cost over LIFO cost (LIFO reserve)	(130,802)	(150,982)
Less: Other inventory reserves	(23,199)	(19,029)
	$ 971,567	$ 970,228

During 2012, our inventory quantities were reduced, resulting in a liquidation of a LIFO inventory layer that was carried at a lower cost prevailing from a prior year, as compared with current costs in the current year (a “LIFO decrement”). A LIFO decrement results in the erosion of layers created in earlier years, and, therefore, a LIFO layer is not created for years that have decrements. In 2012, the effect of this LIFO decrement decreased cost of sales by approximately $1.3 million. There was no LIFO decrement in 2013.

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment

NOTE 5—PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consisted of the following (in thousands):


		December 31,
	Depreciable Life	2013	2012
Land and improvements	-	$ 16,930	$ 17,465
Building and building improvements	40 years	63,494	58,090
Machinery and equipment	3 to 10 years	137,254	130,289
Property held under capital leases	20 to 30 years	4,438	3,500
		222,116	209,344
Allowances for depreciation and amortization		(103,193)	(86,886)
		$ 118,923	$ 122,458

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

Goodwill and Other Intangible Assets [Abstract]

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2013

Goodwill and Other Intangible Assets

NOTE 6—GOODWILL AND OTHER INTANGIBLE ASSETS

The changes in the carrying amount of goodwill by segment for the years ended December 31, 2013, 2012 and 2011 are as follows (in thousands):


	US	Canada	International	Total
Goodwill at December 31, 2010 (1)	$ 509,478	$ -	$ 39,906	$ 549,384
Acquisition of VSC	2,780	-	-	2,780
Acquisition of MRC SPF	-	-	11,565	11,565
Other	(211)	-	-	(211)
Effect of foreign currency translation	-	-	(2,248)	(2,248)

Goodwill at December 31, 2011 (1)	$ 512,047	$ -	$ 49,223	$ 561,270
Acquisition of MRC PSA	-	-	21,829	21,829
Acquisition of PSS	25,051	-	-	25,051
Adjustment of MRC SPF purchase price	-	-	1,197	1,197
Effect of foreign currency translation	-	-	1,045	1,045

Goodwill at December 31, 2012 (1)	$ 537,098	$ -	$ 73,294	$ 610,392
Acquisition of Flow Control	15,257	-	-	15,257
Acquisition of Flangefitt	-	-	9,472	9,472
Adjustment of PSS purchase price	(378)	-	-	(378)
Effect of foreign currency translation	-	-	(2,459)	(2,459)

Goodwill at December 31, 2013 (1)	$ 551,977	$ -	$ 80,307	$ 632,284

(1)Net of accumulated impairment losses of $240.9 million and $69.0 million in the U.S and Canadian segments, respectively.

Other intangible assets by major classification consist of the following (in thousands):


	Weighted-
	Average
	Amortization		Accumulated	Net Book
	Period (in years)	Gross	Amortization	Value
December 31, 2013
Customer base	15.8	$ 730,108	$ (291,116)	$ 438,992
Amortizable trade names	6.1	18,099	(9,268)	8,831
Indefinite lived trade names (1)	N/A	260,023	-	260,023
Noncompete agreements	3.0	244	(81)	163
	15.5	$ 1,008,474	$ (300,465)	$ 708,009

December 31, 2012
Customer base	15.8	$ 721,010	$ (242,355)	$ 478,655
Amortizable trade names	6.7	15,671	(6,577)	9,094
Indefinite lived trade names (1)	N/A	260,023	-	260,023
Noncompete agreements	3.8	2,470	(970)	1,500
	15.6	$ 999,174	$ (249,902)	$ 749,272

(1)Net of accumulated impairment losses of $76.2 million.

Amortization of Intangible Assets

Total amortization of intangible assets for each of the years ending December 31, 2014 to 2018 is currently estimated as follows (in thousands):


2014		$ 53,830
2015		53,207
2016		51,671
2017		50,023
2018		49,092

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

Derivative Financial Instruments [Abstract]

Long-Term Debt

12 Months Ended

Dec. 31, 2013

Long-Term Debt [Abstract]

Long-Term Debt

NOTE 7—LONG-TERM DEBT

The significant components of our long-term debt are as follows (in thousands):


	December 31,
	2013	2012
Senior Secured Term Loan B, net of discount of $4,457 and $6,345	$ 787,059	$ 642,030
Global ABL Facility	199,630	608,006
Other	145	6,553
	986,834	1,256,589
Less current portion	7,935	6,500
	$ 978,899	$ 1,250,089

Senior Secured Term Loan B: In November 2012, we entered into a $650 million seven-year Term Loan B (the “Term Loan”), with Bank of America N.A. as administrative agent, and other lenders from time to time parties thereto. In November 2013, we increased the principal amount of the term loan to $793.5 million and modified the interest rates to those outlined below.

Accordion. The Term Loan allows for incremental increases up to an aggregate of $200 million, plus an additional amount such that the Company’s senior secured leverage ratio (the ratio of the Company’s Consolidated EBITDA (as defined under the Term Loan) to senior secured debt) (net of up to $75 million of unrestricted cash) would not exceed 3.50 to 1.00.

Maturity. The scheduled maturity date of the Term Loan is November 9, 2019. The Term Loan will amortize in equal quarterly installments at 1% a year with the payment of the balance at maturity.

Guarantees. The Company and all of the U.S. borrower’s current and future wholly owned material U.S. subsidiaries guaranteed the Term Loan subject to certain exceptions.

Security. The Term Loan is secured by a first lien on all of the Company’s assets and the assets of its domestic subsidiaries, subject to certain exceptions and other than the collateral securing the Global ABL Facility (which includes accounts receivable, inventory and related assets, collectively, the “ABL collateral”), and by a second lien on the ABL collateral. In addition, a pledge secures the Term Loan of all the capital stock of the Company’s domestic subsidiaries and 65% of the capital stock of its first tier foreign subsidiaries, subject to certain exceptions.

Interest Rates and Fees. The Company has the option to pay interest at a base rate, subject to a floor of 2.00%, plus an applicable margin, or at a rate based on LIBOR, subject to a floor of 1.00%, plus an applicable margin. The applicable margin for base rate loans is 300 basis points, and the applicable margin for LIBOR loans is 400 basis points. The margin steps down by 25 basis points if the Company’s consolidated total leverage ratio (as defined under the Term Loan) is less than 2.50 to 1.00.

Voluntary Prepayment. The Company is able to voluntarily prepay the principal without penalty or premium, other than a 1% premium for re-pricing transactions that occur prior to May 19, 2014.

Mandatory Prepayment. The Company is required to repay the Term Loan with certain asset sale and insurance proceeds, certain debt proceeds and 50% of excess cash flow (reducing to 25% if the Company’s senior secured leverage ratio is no more than 2.75 to 1.00 and 0% if the Company’s senior secured leverage ratio is no more than 2.50 to 1.00). The Company is not required to make a mandatory prepayment in 2014 related to the fiscal year 2013.

Restrictive Covenants. The Term Loan does not include any financial covenants.

The Term Loan contains restrictive covenants (in each case, subject to exclusions) that limit, among other things, the ability of the Company and its restricted subsidiaries (including the Borrower) to:

•make investments;

• prepay certain indebtedness;

•grant liens;

• incur additional indebtedness;

•sell assets;

• make fundamental changes;

•enter into transactions with affiliates; and

• in the case of the Company, to pay dividends.

The Term Loan also contains other customary restrictive covenants. The covenants are subject to various baskets and materiality thresholds, with certain of the baskets permitted by the restrictions on the repayment of subordinated indebtedness, restricted payments and investments being available only when the senior secured leverage ratio of the Company and its restricted subsidiaries is less than 3.25:1.00.

The Term Loan provides that the Company and its restricted subsidiaries may incur any first lien indebtedness that is pari passu to the Term Loan so long as the pro forma senior secured leverage ratio of the Company and its restricted subsidiaries is less than or equal to 3.50:1.00. The Company and its restricted subsidiaries may incur any second lien indebtedness so long as the pro forma junior secured leverage ratio of the Company and its restricted subsidiaries is less than or equal to 4.00:1.00. The Company and its restricted subsidiaries may incur any unsecured indebtedness so long as the total leverage ratio of the Company and its restricted subsidiaries is less than or equal to 5.00:1.00. Additionally, under the Term Loan, the Company and its restricted subsidiaries may incur indebtedness under the Global ABL Facility (or any replacement facility) in an amount not to exceed the greater of $1.3 billion and a borrowing base (equal to, subject to certain exceptions, 85% of all accounts receivable and 65% of the book value of all inventory owned by the Company and its restricted subsidiaries).

The Term Loan contains certain customary representations and warranties, affirmative covenants and events of default, including, among other things, payment defaults, breaches of representations and warranties, covenant defaults, cross-defaults to certain indebtedness, certain events of bankruptcy, certain events under ERISA, judgment defaults, actual or asserted failure of any material guaranty or security documents supporting the Term Loan to be in full force and effect and change of control. If such an event of default occurs, the Agent under the Term Loan is entitled to take various actions, including the acceleration of amounts due under the Term Loan and all other actions that a secured creditor is permitted to take following a default.

Global ABL Credit Facility: In March 2012, we entered into a multi-currency global asset-based revolving credit facility (the “Global ABL Facility”) which replaced our then existing asset-based lending credit facility, our MRC Transmark term loan and revolving credit facility and our MRC Transmark overdraft facility. The five-year Global ABL Facility is comprised of $1.25 billion of total revolving credit facilities, including $977 million in the United States, $170 million in Canada, $12 million in the United Kingdom, $75 million in Australia, $9 million in the Netherlands and $7 million in Belgium. The facility contains an accordion feature that allows us to increase the principal amount of the facility by up to $300 million.

Each of our current and future wholly owned material U.S. subsidiaries and MRC Global Inc. guarantees the obligations of our borrower subsidiaries under the Global ABL Facility. Additionally, each of our non-U.S. borrower subsidiaries guarantees the obligations of our other non-U.S. borrower subsidiaries under the Global ABL Facility.

Obligations under the U.S. tranche are primarily secured, subject to certain exceptions, by a first-priority security interest in the accounts receivable, inventory and related assets of our wholly owned, material U.S. subsidiaries. The obligations of any of our non-U.S. borrower subsidiaries are primarily secured, subject to certain exceptions, by a first-priority security interest in the accounts receivable, inventory and related assets of the non-U.S. subsidiary and our wholly owned material U.S. subsidiaries.

No non-U.S. subsidiary guarantees the U.S. tranche and no property of our non-U.S. subsidiaries secures the U.S. tranche. The security interest in accounts receivable, inventory and related assets of the U.S. borrower subsidiaries ranks prior to the security interest in this collateral which secures the Term Loan.

Each of our non-U.S. borrower subsidiaries has a separate standalone borrowing base that limits the non-U.S. subsidiary’s ability to borrow under its respective tranche, provided that the non-U.S. subsidiaries may utilize excess availability under the U.S. tranche to borrow amounts in excess of their respective borrowing bases (but not to exceed the applicable commitment amount for the foreign subsidiary’s jurisdiction), which utilization will reduce availability under the U.S. tranche dollar for dollar.

Subject to the foregoing, our ability to borrow in each jurisdiction, other than Belgium, under the Global ABL Facility is limited by a borrowing base in that jurisdiction equal to 85% of eligible receivables, plus the lesser of 70% of eligible inventory and 85% of appraised net orderly liquidation value of the inventory. In Belgium, our borrowing is limited by a borrowing base determined under Belgian law.

U.S. borrowings under the facility bear interest at LIBOR plus a margin varying between 1.50% and 2.00% based on our fixed charge coverage ratio. Borrowings by our foreign borrower subsidiaries are generally subject to the same interest rate margins with the benchmark rate for such borrowings varying based on the currency in which such borrowings are made.

Senior Secured Notes: In a series of transactions from June to September 2012, we purchased in the open market $188.7 million in principal of our 9.50% senior secured notes due 2016 for $205.0 million. We incurred a pre-tax loss on the purchase of the senior secured notes of $21.7 million related to the purchase premium, the write off of unamortized deferred financing costs and the write off of original discount.

In November 2012, we redeemed the remaining $861.3 million of senior secured notes. The early redemption required the payment of a premium of $68.9 million. When combined with the write off of unamortized deferred financing costs and write off of original issue discount, this redemption resulted in a pre-tax loss of $92.2 million.

Availability: At December 31, 2013, availability under our revolving credit facilities was $776.9 million.

Interest on Borrowings: The interest rates on our borrowings outstanding at December 31, 2013 and 2012, including the amortization of original issue discount on the Term Loan, were as follows:


	December 31,
	2013	2012
Senior Secured Term Loan B, net of discount	5.09%	6.39%
Global ABL Facility	2.12%	2.21%

Maturities of Long-Term Debt: At December 31, 2013, annual maturities of long-term debt during the next five years and thereafter are as follows (in thousands):


2014	$ 7,935
2015	8,080
2016	7,935
2017	207,565
2018	7,935
Thereafter	747,384

Derivative Financial Instruments

12 Months Ended

Dec. 31, 2013

Derivative Financial Instruments

NOTE 8—DERIVATIVE FINANCIAL INSTRUMENTS

We use derivative financial instruments to help manage our exposure to interest rate risk and fluctuations in foreign currencies. All of our derivative instruments are freestanding and, accordingly, changes in their fair market value are recorded in earnings. In December 2013, we entered into foreign exchange forward contracts with a notional amount of $1.6 billion Norwegian Krone ($260 million) related to the January 2014 acquisition of Stream AS.

The table below provides data about the fair value of the derivative instruments that are recorded in our consolidated balance sheets (in thousands):


	December 31, 2013		December 31, 2012
	Assets	Liabilities	Assets	Liabilities
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts (1)	$ 4,603	$ -	$ 3	$ -

(1)

Included in “Accrued expenses and other current liabilities” or “other current assets” in our consolidated balance sheets. The total notional amount of our forward foreign exchange contracts was approximately $331 million and $69 million at December 31, 2013 and 2012, respectively.

The table below provides data about the amount of gains and (losses) recognized in our consolidated statements of operations related to our derivative instruments (in thousands):


	Year Ended December 31,
Derivatives not designated as hedging instruments:	2013	2012	2011
Foreign exchange forward contracts	$ 4,731	$ 176	$ 71
Interest rate contracts	$ -	$ 2,010	$ 6,973

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

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Income Taxes

12 Months Ended

Dec. 31, 2013

Income Taxes [Abstract]

Income Taxes

NOTE 9—INCOME TAXES

The components of our income before income taxes were (in thousands):


	Year Ended December 31,
	2013	2012	2011
United States	$ 231,434	$ 156,226	$ 50,654
Foreign	5,477	25,470	5,114
	$ 236,911	$ 181,696	$ 55,768

Income taxes included in the consolidated statements of income consist of (in thousands):


	Year Ended December 31,
	2013	2012	2011
Current:
Federal	$ 90,063	$ 65,563	$ 32,080
State	8,058	6,569	2,878
Foreign	6,518	12,038	8,188
	104,639	84,170	43,146

Deferred:
Federal	(21,102)	(15,776)	(14,960)
State	2,818	(1,256)	(1,177)
Foreign	(1,539)	(3,400)	(225)
	(19,823)	(20,432)	(16,362)
Income tax expense	$ 84,816	$ 63,738	$ 26,784

Our effective tax rate varied from the statutory federal income tax rate for the following reasons (in thousands):


	Year Ended December 31,
	2013	2012	2011
Federal tax expense at statutory rates	$ 82,918	$ 63,474	$ 19,518
State taxes	3,855	3,453	977
Nondeductible expenses	1,152	1,123	1,121
Effect of tax rate changes on existing temporary differences	3,074	-	3,993
Effect of foreign operations	(9,752)	(3,565)	(499)
Change in valuation allowance	7,714	(78)	522
Other	(4,145)	(669)	1,152
Income tax expense	$ 84,816	$ 63,738	$ 26,784
Effective tax rate	35.8%	35.1%	48.0%

Significant components of our current deferred tax assets and liabilities are as follows (in thousands):


	December 31,
	2013	2012
Deferred tax assets:
Allowance for doubtful accounts	$ 1,265	$ 2,046
Accruals and reserves	16,603	12,617
Net operating loss and tax credit carryforwards	13,423	5,453
Other	1,270	1,504
Subtotal	32,561	21,620
Valuation allowance	(14,155)	(2,059)
Total	18,406	19,561

Deferred tax liabilities:
Accounts receivable	-	(4,550)
Inventory valuation	(81,208)	(79,575)
Property, plant and equipment	(8,538)	(11,210)
Intangible assets	(236,832)	(252,976)
Debt	(5,798)	(5,745)
Other	(177)	(11)
Total	(332,553)	(354,067)
Net deferred tax liability	$ (314,147)	$ (334,506)

We record a valuation allowance when it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of the deferred tax assets depends on the ability to generate sufficient taxable income of the appropriate character in the future and in the appropriate taxing jurisdictions. If we were to determine that we would be able to realize our deferred tax assets in the future in excess of their net recorded amount, we would make an adjustment to the valuation allowance, which would reduce the provision for income taxes.

In the United States, we had approximately $101.6 million of state net operating loss carryforwards as of December 31, 2013, which will expire in future years through 2033 and foreign tax credit carryforwards of $4.4 million expiring in 2022. In certain non-U.S. jurisdictions, we had $34.6 million of net operating loss carryforwards, of which $30.6 million have no expiration and $4.0 million will expire in future years through 2022.

We consider the undistributed earnings of our foreign subsidiaries to be indefinitely reinvested, as we have no current intention to repatriate these earnings. As such, deferred income taxes are not provided for temporary differences of approximately $192.9 million and $189.4 million as of December 31, 2013 and 2012, respectively, representing earnings of non-U.S. subsidiaries intended to be permanently reinvested. These additional foreign earnings could become subject to additional tax if remitted, or deemed remitted, as a dividend. Computation of the potential deferred tax liability associated with these undistributed earnings and any other basis difference is not practicable.

Our tax filings for various periods are subject to audit by the tax authorities in most jurisdictions where we conduct business. We are no longer subject to U.S. federal income tax examination for all years through 2009 and the statute of limitations at our international locations is generally six to seven years.

At December 31, 2013 and 2012, our unrecognized tax benefits were immaterial to our consolidated financial statements.

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.

Stockholders' Equity

12 Months Ended

Dec. 31, 2013

Stockholders' Equity [Abstract]

Stockholders' Equity

NOTE 10—STOCKHOLDERS’ EQUITY

Preferred Stock

We have authorized 100,000,000 shares of preferred stock. Our Board of Directors has the authority to issue shares and set the terms of the shares of preferred stock. As of December 31, 2013 and 2012, there were no shares of preferred stock issued or outstanding.

Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss, net of tax, in the accompanying consolidated balance sheets consists of the following (in thousands):



	December 31,
	2013	2012
Currency translation adjustments	$ (40,173)	$ (21,829)
Pension related adjustments	(249)	(335)
Accumulated other comprehensive loss	$ (40,422)	$ (22,164)

Earnings per Share

Earnings per share are calculated in the table below (in thousands, except per share amounts).


	Year Ended December 31,
	2013	2012	2011
Net income	$ 152,095	$ 117,958	$ 28,984

Average basic shares outstanding	101,712	96,465	84,417
Effect of dilutive securities	810	460	238
Average diluted shares outstanding	102,522	96,925	84,655

Net income per share:
Basic	$ 1.50	$ 1.22	$ 0.34
Diluted	$ 1.48	$ 1.22	$ 0.34

Stock options and shares of restricted stock are disregarded in this calculation if they are determined to be anti-dilutive. For the years ended December 31, 2013, 2012 and 2011, our anti-dilutive stock options approximated 0.5 million, 2.1 million and 2.3 million, respectively.

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

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-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.29-31)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

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Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Section B
-Paragraph 7, 11A
-Chapter 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 17: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph d
-Article 4

Reference 18: http://www.xbrl.org/2003/role/presentationRef
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-Number 210
-Section 02
-Paragraph 29, 30, 31
-Article 5

Reference 19: http://www.xbrl.org/2003/role/presentationRef
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-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 20: http://www.xbrl.org/2003/role/presentationRef
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-Number 210
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Reference 21: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
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Reference 22: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 23: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

Employee Benefit Plans

12 Months Ended

Dec. 31, 2013

Employee Benefit Plans [Abstract]

Employee Benefit Plans

NOTE 11—EMPLOYEE BENEFIT PLANS

Equity Compensation Plans: Our 2007 Stock Option Plan permitted the grant of stock options to our employees, directors and consultants for up to 3,750,000 shares of common stock. The options were not to be granted with an exercise price less than the fair market value of the Company’s common stock on the date of the grant, nor for a term exceeding ten years. Vesting generally occurred over a five year period on the anniversaries of the date specified in the employees’ respective option agreements, subject to accelerated vesting under certain circumstances set forth in the option agreements. During 2013, 262,586 stock options were exercised and no stock options were granted under this plan.

Under the terms of our 2007 Restricted Stock Plan, up to 500,000 shares of restricted stock could have been granted at the direction of the Board of Directors and vesting generally occurred in one-fourth increments on the second, third, fourth and fifth anniversaries of the date specified in the employees’ respective restricted stock agreements, subject to accelerated vesting under certain circumstances set forth in the restricted stock agreements. Fair value was based on the fair market value of our stock on the date of issuance. We expense the fair value of the restricted stock grants on a straight-line basis over the vesting period.

Under the terms of the 2007 Stock Option and Restricted Stock Plans, all previously granted stock options and restricted stock were to vest when funds affiliated with Goldman, Sachs & Co. ceased to own more than 5,141,547 shares of our common stock. Upon completion of the November 2013 sale of our common stock by Goldman, Sachs & Co., 852,939 stock options and 134,211 shares of restricted stock vested triggering the accelerated recognition of $5.2 million of equity-based compensation expense.

In April 2012, we replaced the 2007 Stock Option Plan and the 2007 Restricted Stock Plan with the 2011 Omnibus Incentive Plan. No additional shares or other equity interests will be awarded under the prior plans. The 2011 Omnibus Incentive Plan has 3,250,000 shares reserved for issuance pursuant to the plan. The plan permits the issuance of stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares, performance units and other stock-based and cash-based awards. Since the adoption of the 2011 Omnibus Incentive Plan, the Company’s Board of Directors has periodically granted stock options and restricted stock to directors and employees, but no other types of awards have been granted under the plan. Options and stock appreciation rights may not be granted at prices less than their fair market value on the date of the grant, nor for a term exceeding ten years. For employees, vesting generally occurs over a four or five year period on the anniversaries of the date specified in the employees’ respective agreements, subject to accelerated vesting under certain circumstances set forth in the option agreements. Vesting for directors generally occurs in one year. In 2013, 726,746 stock options and 99,163 shares of restricted stock were granted to executive management, members of our Board of Directors and employees under this plan. To date, 1,890,670 shares have been granted under this plan. We expense the fair value of the stock option grants on a straight-line basis over the vesting period. A Black-Scholes option-pricing model is used to estimate the fair value of the stock options.


			Weighted
		Weighted	Average
		Average	Remaining	Aggregate
		Exercise	Contractual	Intrinsic
	Options	Price	Term	Value
			(years)	(thousands)
Stock Options
Balance at December 31, 2012	3,758,758	$ 18.05	7.4	$ 36,585
Granted	726,746	29.53
Exercised	(262,586)	12.50
Forfeited	(286,257)	22.62
Expired	(2,576)	12.52
Balance at December 31, 2013	3,934,085	$ 20.47	7.0	$ 46,144


At December 31, 2013
Options outstanding, vested and exercisable	2,397,955	$ 17.75	5.8	$ 34,772
Options outstanding, vested and expected to vest	3,883,434	$ 20.40	6.9	$ 45,798



		Weighted
		Average
		Grant-Date
	Shares	Fair Value
Restricted Stock
Nonvested at December 31, 2012	134,211	$ 15.65
Granted	99,163	29.52
Vested	(135,179)	15.76
Forfeited	(4,712)	29.87
Nonvested at December 31, 2013	93,483	$ 29.48

The following table summarizes award activity under our stock option and restricted stock plans:


	Year Ended December 31,
	2013	2012	2011
Stock Options
Weighted-average, grant-date fair value of awards granted	$ 12.10	$ 6.52	$ 3.46
Total intrinsic value of stock options exercised	4,717,693	1,089,830	1,715
Total fair value of stock options vested	6,352,967	1,370,130	1,833,836


	Year Ended December 31,
	2013	2012	2011
Restricted Stock
Weighted-average, grant-date fair value of awards granted	$ 29.48	$ 15.65	$ 14.36
Total fair value of restricted stock vested	4,173,834	484,141	378,670

Stock Options

Following are the weighted-average assumptions used to estimate the fair values of our stock options:


	Year Ended December 31,
	2013	2012	2011
Risk-free interest rate	0.86%	0.90%	1.32%
Dividend yield (1)	0.00%	0.00%	0.00%
Expected volatility	40.96%	41.87%	46.05%
Expected life (in years)	6.2	6.6	5.0

(1)

The expected dividend yield reflects the restriction on our ability to pay dividends and does not anticipate “special” dividends.

Recognized compensation expense and related income tax benefits under our equity-based compensation plans are set forth in the table below (in thousands):


	Year Ended December 31,
	2013	2012	2011
Equity-based compensation expense:
Stock options	$ 13,329	$ 7,533	$ 6,707
Restricted stock	2,159	481	412
Restricted common units	-	-	(1)
Profit units	-	461	1,267
Total equity-based compensation expense	$ 15,488	$ 8,475	$ 8,385
Income tax benefits related to equity-based compensation	$ 5,743	$ 3,114	$ 3,081

Unrecognized compensation expense under our equity-based compensation plans is set forth in the table below (in thousands):


	Weighted-
	Average Vesting	December 31,
	Period (in years)	2013
Unrecognized equity-based compensation expense:
Stock options	2.9	$ 10,168
Restricted stock	3.5	1,950
Total unrecognized equity-based compensation expense		$ 12,118

Defined Contribution Employee Benefit Plans: We maintain defined contribution employee benefit plans in a number of countries in which we operate including the U.S., Canada, the United Kingdom, Australia, France, Belgium, the Netherlands, and New Zealand. These plans generally allow employees the option to defer a percentage of their compensation in accordance with local tax laws. In addition, we make contributions under these plans ranging from 1% to 10% of eligible compensation.

Our provisions for the expense under defined contribution plans were $10.5 million, $9.0 million and $6.5 million for the years ended December 31, 2013, 2012 and 2011, respectively.

Defined Benefit Employee Benefit Plan: We maintain a defined benefit pension plan for 13 current and former employees of our Belgian subsidiary. The unfunded liability associated with this plan was $0.5 million and $0.7 million as of December 31, 2013 and 2012, respectively.

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2013
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 12—RELATED PARTY TRANSACTIONS Europump Systems Inc. Certain MRC Canada ULC employees, who are shareholders of the Company, served as executive officers of Europump Systems Inc. (“Europump”). Europump is engaged in the business of selling, servicing and renting industrial pumps. During the years ended December 31, 2013, 2012 and 2011, our purchases from Europump approximated $42.3 million, $39.3 million and $42.0 million, respectively. At December 31, 2013 and 2012, we had payables to Europump of approximately $0 and $4.9 million, respectively. During the years ended December 31, 2013, 2012 and 2011, our sales to Europump approximated $2.1 million, $1.2 million and $2.5 million, respectively. At December 31, 2013 and 2012, we had receivables of approximately $0.8 million and $0.2 million from Europump, respectively. We also agreed to make certain profit sharing payments to the Europump shareholders in respect of certain oilfield supply and service stores located in Western Canada. For the years ended December 31, 2013, 2012 and 2011, the expense we recognized for the aggregate profit participation for Europump was approximately $6.2 million, $7.9 million and $5.8 million, respectively. Leases We lease land and buildings at various locations from Hansford Associates Limited Partnership (“Hansford Associates”), and Prideco LLC (“Prideco”), as well as certain employees. We lease equipment and vehicles from Prideco. Certain of our directors participate in ownership of Hansford Associates and Prideco. Most of these leases are renewable for various periods through 2019 and are renewable at our option. The renewal options are subject to escalation clauses. These leases contain clauses for payment of real estate taxes, maintenance, insurance and certain other operating expenses of the properties. Rent expense attributable to related parties was $2.0 million, $4.3 million and $5.5 million for the years ended December 31, 2013, 2012 and 2011, respectively. Future minimum rental payments required under operating leases with related parties that have initial or remaining non-cancelable lease terms in excess of one year are $2.0 million, $1.4 million, $1.5 million, $1.4 million and $1.4 million for the years 2014, 2015, 2016, 2017 and 2018 and thereafter, respectively. Cypress Energy Partners One of our directors is the chairman, chief executive officer and president of one of our customers, Cypress Energy Partners, LP. During 2013, we received revenue of $0.4 million from Cypress Energy Partners, LP. Each sale was made on an arm’s-length basis at market pricing. The Goldman Sachs Funds Up to and until November 13, 2013, certain affiliates of The Goldman Sachs Group, Inc., including GS Capital Partners V Fund, L.P., GS Capital Partners VI Fund, L.P. and related entities, or the Goldman Sachs Funds, were the majority owners of PVF Holdings, our largest stockholder. In March 2013, Goldman Sachs & Co. was the co-lead bookrunner on our secondary offering. In 2012, Goldman Sachs Credit Partners L.P. (“GSCP”), an affiliate of the Goldman Sachs Funds, was a co-lead arranger and joint bookrunner under our Global ABL Facility and our Term Loan as well as the syndication agent under those facilities. In addition, Goldman Sachs Lending Partners L.L.C. is a participant in our Global ABL Credit Facility. Goldman, Sachs & Co. was the co-lead bookrunner on our initial public offering and our November 2012 secondary offering. Payments made to affiliates of the Goldman Sachs Funds in connection with these transactions were $10.9 million, $13.2 million and $0.3 million for the years ended December 31, 2013, 2012 and 2011, respectively. Affiliates of the Goldman Sachs Funds From time to time, we sell products to affiliates of the Goldman Sachs Funds. The total revenues from these affiliates were $33.7 million, $23.1 million, and $12.0 million for the years ended December 31, 2013, 2012 and 2011, respectively. The total receivables due from these affiliates were $7.0 million and $5.0 million as of December 31, 2013 and 2012, respectively. In 2012, we engaged an affiliate of the Goldman Sachs Funds to provide services for treasury, accounts receivables collection software and disaster recovery systems and paid them approximately $0.6 million and $0.9 million for the years ended December 31, 2013 and 2012, respectively.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(k))
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph b
-Article 3A

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
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-Article 4

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 57
-Paragraph 1-4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Segment, Geographic and Product Line Information [Abstract]

Segment, Geographic and Product Line Information

12 Months Ended

Dec. 31, 2013

Segment , Geographic and Product Line Information

NOTE 13—SEGMENT, GEOGRAPHIC AND PRODUCT LINE INFORMATION

We operate as three business segments, U.S., Canada and International. Our International segment consists of our operations outside of the U.S. and Canada, principally Europe, Asia and Australasia. These segments represent our business of selling pipe, valves and fittings to the energy and industrial sectors, across each of the upstream (exploration, production and extraction of underground oil and gas), midstream (gathering and transmission of oil and gas, gas utilities, and the storage and distribution of oil and gas) and downstream (crude oil refining, petrochemical processing and general industrials) markets. The following table presents financial information for each segment (in millions):


	Year Ended December 31,
	2013	2012	2011
Sales
U.S.	$ 3,967.6	$ 4,238.4	$ 3,849.2
Canada	709.4	765.2	653.6
International	553.8	567.2	329.6
Consolidated sales	$ 5,230.8	$ 5,570.8	$ 4,832.4

Depreciation and amortization
U.S.	$ 13.6	$ 11.2	$ 11.6
Canada	2.0	2.1	2.5
International	6.7	5.3	2.9
Total depreciation and amortization expense	$ 22.3	$ 18.6	$ 17.0

Amortization of intangibles
U.S.	$ 42.4	$ 40.0	$ 40.1
Canada	2.4	2.5	4.5
International	7.3	7.0	6.1
Total amortization of intangibles expense	$ 52.1	$ 49.5	$ 50.7

Operating income
U.S.	$ 280.1	$ 358.3	$ 166.5
Canada	20.9	27.2	17.4
International	10.8	21.5	10.7
Total operating income	311.8	407.0	194.6

Interest expense	60.7	112.5	136.8
Loss on early extinguishment of debt	-	114.0	-
Other (income) expense	14.2	(1.2)	2.0
Income before income taxes	$ 236.9	$ 181.7	$ 55.8


	December 31,
	2013	2012
Total assets
United States	$ 2,732.3	$ 2,732.4
Canada	204.7	249.1
International	398.7	388.2
Total assets	$ 3,335.7	$ 3,369.7

The percentages of our fixed assets relating to the following geographic areas are as follows:


	December 31,
	2013	2012
Fixed assets
United States	57%	56%
Canada	24%	24%
International	19%	20%
Total fixed assets	100%	100%

Our net sales by product line are as follows (in thousands):


	Year Ended December 31,
Type	2013		2012		2011
Energy carbon steel tubular products:
Line pipe	$ 1,061,881	20%	$ 1,158,512	21%	$ 1,033,976	21%
Oil country tubular goods (OCTG)	463,656	9%	715,108	13%	809,163	17%
	$ 1,525,537	29%	$ 1,873,620	34%	$ 1,843,139	38%


Valves, fittings, flanges and other products:
Valves and specialty products	$ 1,440,431	28%	$ 1,431,888	26%	$ 1,143,234	24%
Carbon steel fittings and flanges and stainless steel
and alloy pipe and fittings	1,135,818	22%	1,175,276	21%	870,581	18%
Other	1,129,006	21%	1,090,074	19%	975,469	20%
	$ 3,705,255	71%	$ 3,697,238	66%	$ 2,989,284	62%

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.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Fair Value Measurements

12 Months Ended

Dec. 31, 2013

Fair Value Measurements [Abstract]

Fair Value Measurements

NOTE 14—FAIR VALUE MEASUREMENTS

We used the following methods and significant assumptions to estimate fair value for assets and liabilities recorded at fair value.

Interest Rate Contracts: Interest rate contracts are reported at fair value utilizing Level 2 inputs. We obtain dealer quotations to value our interest rate swap agreements. These quotations rely on observable market inputs such as yield curves and other market-based factors.

Foreign Exchange Forward and Option Contracts: Foreign exchange forward contracts are reported at fair value utilizing Level 2 inputs, as the fair value is based on broker quotes for the same or similar derivative instruments.

The following table presents assets and liabilities measured at fair value on a recurring basis, and the basis for that measurement (in thousands):


	Fair Value Measurements at Reporting Date Using
	Total	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
December 31, 2013
Assets:	$ 4,603	$ -	$ 4,603	$ -
Liabilities:	-	-	-	-

December 31, 2012
Assets:	$ 3	$ -	$ 3	-
Liabilities:	-	-	-	-

With the exception of long-term debt, the fair values of our financial instruments, including cash and cash equivalents, accounts receivable, trade accounts payable and accrued liabilities approximate carrying value. The carrying value of our debt was $0.987 billion and $1.257 billion at December 31, 2013 and 2012, respectively. We estimate the fair value of the Term Loan using Level 2 inputs, or quoted market prices as of December 31, 2013 and 2012, respectively. The fair value of our debt was $0.997 billion and $1.261 billion at December 31, 2013 and 2012, respectively. The carrying values of our Global ABL Facility and remaining portions of our long-term debt approximate their fair values.

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.

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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Commitments and Contingencies [Abstract]

Commitments and Contingencies

12 Months Ended

Dec. 31, 2013

Commitments and Contingencies

NOTE 15—COMMITMENTS AND CONTINGENCIES

Leases

We regularly enter into operating and capital lease arrangements for certain of our facilities and equipment. Our leases are renewable at our option for various periods through 2021. Certain renewal options are subject to escalation clauses and contain clauses for payment of real estate taxes, maintenance, insurance and certain other operating expenses of the properties. Leases with escalation clauses based on an index, such as the consumer price index, are expensed and projected based on current rates. Leases with specified escalation steps are expensed and projected based on the rate in effect in the respective period which is not materially different than the straight-line method. We amortize leasehold improvements over the remaining life of the lease. Rental expense under our operating lease arrangements was $53.3 million, $48.3 million and $40.3 million for the years ended December 31, 2013, 2012, and 2011, respectively.

Future minimum lease payments under noncancelable operating and capital lease arrangements having initial terms of one year or more are as follows (in thousands):


	Operating Leases	Capital Leases
2014	$ 41,328	$ 628
2015	33,268	297
2016	24,208	158
2017	18,448	117
2018	14,244	131
Thereafter	16,686	568
	$ 148,182	$ 1,899

Legal Proceedings

Asbestos Claims. We are one of many defendants in lawsuits that plaintiffs have brought seeking damages for personal injuries that exposure to asbestos allegedly caused. Plaintiffs and their family members have brought these lawsuits against a large volume of defendant entities as a result of the various defendants’ manufacture, distribution, supply or other involvement with asbestos, asbestos-containing products or equipment or activities that allegedly caused plaintiffs to be exposed to asbestos. These plaintiffs typically assert exposure to asbestos as a consequence of third-party manufactured products that the Company’s subsidiary, McJunkin Red Man Corporation, purportedly distributed. As of December 31, 2013, we are a named defendant in approximately 279 lawsuits involving approximately 930 claims. No asbestos lawsuit has resulted in a judgment against us to date, with the majority being settled, dismissed or otherwise resolved. Applicable third-party insurance has substantially covered these claims, and insurance should continue to cover a substantial majority of existing and anticipated future claims. Accordingly, we have recorded a liability for our estimate of the most likely settlement of asserted claims and a related receivable from insurers for our estimated recovery, to the extent we believe that the amounts of recovery are probable.

We annually conduct analyses of our asbestos-related litigation to estimate the adequacy of the reserve for pending and probable asbestos-related claims. Given these estimated reserves and existing insurance coverage that has been available to cover substantial portions of these claims, we believe that our current accruals and associated estimates relating to pending and probable asbestos-related litigation likely to be asserted over the next 15 years are currently adequate. This belief, however, relies on a number of assumptions, including:

That our future settlement payments, disease mix and dismissal rates will be materially consistent with historic experience;

That future incidences of asbestos-related diseases in the U.S. will be materially consistent with current public health estimates;

That the rates at which future asbestos-related mesothelioma incidences result in compensable claims filings against us will be materially consistent with its historic experience;

That insurance recoveries for settlement payments and defense costs will be materially consistent with historic experience;

That legal standards (and the interpretation of these standards) applicable to asbestos litigation will not change in material respects;

That there are no materially negative developments in the claims pending against us; and

That key co-defendants in current and future claims remain solvent.

If any of these assumptions prove to be materially different in light of future developments, liabilities related to asbestos-related litigation may be materially different than amounts accrued or estimated. Further, while we anticipate that additional claims will be filed in the future, we are unable to predict with any certainty the number, timing and magnitude of such future claims. In our opinion, there are no pending legal proceedings that are likely to have a material adverse effect on our consolidated financial statements.

Other Legal Claims and Proceedings. From time to time, we have been subject to various claims and involved in legal proceedings incidental to the nature of our businesses. We maintain insurance coverage to reduce financial risk associated with certain of these claims and proceedings. It is not possible to predict the outcome of these claims and proceedings. However, in our opinion, there are no material pending legal proceedings that are likely to have a material effect on our business, financial condition, results of operations or cash flows.

Product Claims. From time to time, in the ordinary course of our business, our customers may claim that the products we distribute are either defective or require repair or replacement under warranties that either we or the manufacturer may provide to the customer. These proceedings are, in the opinion of management, ordinary and routine matters incidental to our normal business. Our purchase orders with our suppliers generally require the manufacturer to indemnify us against any product liability claims, leaving the manufacturer ultimately responsible for these claims. In many cases, state, provincial or foreign law provides protection to distributors for these sorts of claims, shifting the responsibility to the manufacturer. In some cases, we could be required to repair or replace the products for the benefit of our customer and seek our recovery from the manufacturer for our expense. In our opinion, the ultimate disposition of these claims and proceedings is not expected to have a material adverse effect on our financial position, results of operations or cash flows.

Weatherford Claim. In addition to PVF, our Canadian subsidiary, Midfield Supply (“Midfield”), now known as MRC Canada, also distributed progressive cavity pumps and related equipment (“PCPs”) under a distribution agreement with Weatherford Canada Partnership (“Weatherford”) within a certain geographical area located in southern Alberta, Canada. Commencing in late 2005 and into early 2006, Midfield hired new employees, including individuals who left Weatherford, as part of Midfield’s desire to expand its PVF business into northern Alberta. Shortly thereafter, many of these employees left Midfield and formed a PCP manufacturing, distribution and service company named Europump Systems Inc. (“Europump”) in 2006. The distribution agreement with Weatherford expired in 2006. Midfield supplied Europump with PVF products that Europump distributed along with sales of PCP pumps. In April 2007, Midfield purchased Europump’s distribution branches and began distributing and servicing Europump PCPs.

Pursuant to a complaint that Weatherford filed on April 11, 2006 in the Court of Queen’s Bench of Alberta, Judicial Bench of Edmonton (Action No. 060304628), Weatherford sued Europump, three of Europump’s part suppliers, Midfield, certain current and former employees of Midfield, as well as other entities related to these parties, asserting a host of claims including breach of contract, breach of fiduciary duty, misappropriation of confidential information related to the PCPs, unlawful interference with economic relations and conspiracy. The Company denies these allegations and contends that Midfield’s expansion and subsequent growth was the result of fair competition.

From 2006 through 2012, the case focused largely on Weatherford’s questioning of defense witnesses. In 2013, the defendants began substantive questioning of Weatherford and its witnesses. Discovery is ongoing and expected to last through 2014.

Due to ongoing discovery, and the limited information available related to any claimed damages, we cannot reasonably estimate potential loss at this time. The Company believes Weatherford’s claims are without merit and intends to defend against them vigorously.

Customer Contracts

We have contracts and agreements with many of our customers that dictate certain terms of our sales arrangements (pricing, deliverables, etc.). While we make every effort to abide by the terms of these contracts, certain provisions are complex and often subject to varying interpretations. Under the terms of these contracts, our customers have the right to audit our adherence to the contract terms. Historically, any settlements that have resulted from these customer audits have been immaterial to our consolidated financial statements.

Letters of Credit

Our letters of credit outstanding at December 31, 2013 approximated $33.2 million.

Bank Guarantees

Certain of our international subsidiaries have trade guarantees that banks have issued on their behalf. The amount of these guarantees at December 31, 2013 was approximately $6.7 million.

Purchase Commitments

We have purchase obligations consisting primarily of inventory purchases made in the normal course of business to meet operating needs. While our vendors often allow us to cancel these purchase orders without penalty, in certain cases, cancellations may subject us to cancellation fees or penalties depending on the terms of the contract.

Warranty Claims

We are involved from time to time in various warranty claims, which arise in the ordinary course of business. Historically, any settlements that have resulted from these warranty claims have been immaterial to our consolidated financial statements.

The entire disclosure for commitments and contingencies.

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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Quarterly Information (Unaudited) [Abstract]

Quarterly Information (Unaudited)

12 Months Ended

Dec. 31, 2013

Quarterly Information (Unaudited)

NOTE 16—QUARTERLY INFORMATION (UNAUDITED)

Our quarterly financial information is presented in the table below (in millions, except per share amounts):


	First	Second	Third	Fourth	Year
2013
Revenues	$ 1,305.1	$ 1,267.8	$ 1,313.7	$ 1,344.2	$ 5,230.8
Gross profit	246.6	243.9	238.3	226.0	954.8
Net income (1)	46.2	43.9	38.8	23.3	152.1
EPS:
Basic (1)	$ 0.45	$ 0.43	$ 0.38	$ 0.23	$ 1.50
Diluted (1)	$ 0.45	$ 0.43	$ 0.38	$ 0.23	$ 1.48

2012
Revenues	$ 1,382.6	$ 1,430.4	$ 1,451.1	$ 1,306.7	$ 5,570.8
Gross profit	236.6	241.7	277.2	258.3	1,013.7
Net income (loss) (1)	37.5	31.3	55.5	(6.4)	118.0
EPS:
Basic (1)	$ 0.44	$ 0.32	$ 0.55	$ (0.06)	$ 1.22
Diluted (1)	$ 0.44	$ 0.32	$ 0.54	$ (0.06)	$ 1.22

_______________

(1)Net income and EPS do not add across due to rounding and transactions resulting in differing weighted average shares outstanding on a quarterly basis.

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

Schedule of Purchase Price Allocation

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2013
Subsequent Events [Abstract]
Subsequent Events	NOTE 17—SUBSEQUENT EVENTS In January 2014, we terminated a profit sharing agreement with respect to certain oilfield supply and service stores in western Canada. This profit sharing agreement required us to make annual profit sharing payments to Europump related to PVF sales in the heavy oil region of Canada. In conjunction with the termination of this agreement, we sold our progressive cavity pump (“PCP”) distribution and servicing business to Europump, our primary supplier of PCP pumps. We believe this divestiture will allow us to focus on our core business of supplying PVF products and services to the energy and industrial markets. We expect the impact of this divestiture to be a reduction in sales of approximately $82 million in 2014; however, through the elimination of costs associated with the business, including the profit sharing payments to Europump, we expect the impact of the sale will have a modestly accretive impact on profitability going forward. However, we do anticipate a first quarter 2014 pre-tax charge of approximately $7 million ($4.6 million after-tax) associated with the termination of the profit sharing agreement. In January 2014, we completed the $260 million acquisition of Stream AS. Headquartered in Norway, Stream is the leading pipe, valve and fittings distributor and provider of flow control products, solutions and services to the offshore oil and gas industry on the Norwegian Continental Shelf. The purchase price was funded with existing availability under our Global ABL Facility as well as cash on hand.

Significant Accounting Policies (Policy)	12 Months Ended
Significant Accounting Policies (Policy)	Dec. 31, 2013
Significant Accounting Policies [Abstract]
Business Operations	Business Operations: MRC Global Inc. is a holding company headquartered in Houston, Texas. Our wholly owned subsidiaries are global distributors of pipe, valves, fittings and related products and services across each of the upstream (exploration, production and extraction of underground oil and gas), midstream (gathering and transmission of oil and gas, gas utilities, and the storage and distribution of oil and gas) and downstream (crude oil refining, petrochemical processing and general industrials) sectors. We have branches in principal industrial, hydrocarbon producing and refining areas throughout the United States, Canada, Europe, Asia and Australasia. Our products are obtained from a broad range of suppliers.
Basis of Presentation	Basis of Presentation: The consolidated financial statements include the accounts of MRC Global Inc. and its wholly owned and majority owned subsidiaries (collectively referred to as the “Company” or by such terms as “we,” “our” or “us”). All material intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates: The preparation of financial statements in conformity with the accounting principles generally accepted in the United States of America requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period. We believe that our most significant estimates and assumptions are related to estimated losses on accounts receivable, the last-in, first-out (“LIFO”) inventory costing methodology, estimated realizable value on excess and obsolete inventories, goodwill, intangible assets, deferred taxes and self-insurance programs. Actual results could differ materially from those estimates.
Cash Equivalents	Cash Equivalents: We consider all highly liquid investments with maturities of three months or less at the date of purchase to be cash equivalents.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts: We evaluate the adequacy of the allowance for losses on receivables based upon periodic evaluation of accounts that may have a higher credit risk using information available about the customer and other relevant data. This formal analysis is inherently subjective and requires us to make significant estimates of factors affecting doubtful accounts, including customer specific information, current economic conditions, volume, growth and composition of the account, and other factors such as financial statements, news reports and published credit ratings. The amount of the allowance for the remainder of the trade balance is not evaluated individually but is based upon historical loss experience. Because this process is subjective and based on estimates, ultimate losses may differ from those estimates. Receivable balances are written off when we determine that the balance is uncollectible. Subsequent recoveries, if any, are credited to the allowance when received. The provision for losses on receivables is included in selling, general and administrative expenses in the accompanying consolidated statements of income.
Inventories	Inventories: Our inventories are valued at the lower of cost, principally LIFO, or market. We believe that the use of LIFO results in a better matching of costs and revenues. This practice excludes certain inventories, which are held outside of the United States, approximating $264.0 million and $318.9 million at December 31, 2013 and 2012, respectively, which are valued at the lower of weighted-average cost or market. Our inventory is substantially comprised of finished goods. Allowances for excess and obsolete inventories are determined based on analyses comparing inventories on hand to sales trends. The allowance, which totaled $23.2 million and $19.0 million at December 31, 2013 and 2012, respectively, is the amount deemed necessary to reduce the cost of the inventory to its estimated realizable value.
Debt Issuance Costs	Debt Issuance Costs: We defer costs directly related to obtaining financing and amortize them over the term of the indebtedness on a straight-line basis. The use of the straight-line method does not produce results that are materially different from those which would result from the use of the effective interest method. These amounts are reflected in the consolidated statement of operations as a component of interest expense. Debt issuance costs are reflected in other assets and totaled $19.1 million and $25.2 million, net of accumulated amortization of $5.7 million and $4.8 million, at December 31, 2013 and 2012, respectively.
Fixed Assets	Fixed Assets: Land, buildings and equipment are stated on the basis of cost. For financial statement purposes, depreciation is computed over the estimated useful lives of such assets principally by the straight-line method; accelerated depreciation and cost recovery methods are used for income tax purposes. Leasehold improvements are amortized using the straight-line method over the shorter of the remaining lease term or the estimated useful life of the improvements. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and any gain or loss is reflected in income for the period. Maintenance and repairs are charged to expense as incurred.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets: Goodwill represents the excess of cost over the fair value of net assets acquired. Goodwill is tested for impairment annually or more frequently if circumstances indicate that impairment may exist. We evaluate goodwill for impairment at three reporting units that mirror our three segments (U.S., Canada and International). The goodwill impairment test compares the carrying value of the reporting unit that has the goodwill with the estimated fair value of that reporting unit. If the carrying value is more than the estimated fair value, we then calculate the implied fair value of goodwill by deducting the fair value of all tangible and intangible net assets of the reporting unit from the estimated fair value of the reporting unit. Impairment losses are recognized to the extent that recorded goodwill exceeds implied goodwill. Our impairment methodology uses discounted cash flow and multiples of cash earnings valuation techniques, as well as valuation comparisons to similar businesses. These valuation methods require us to make certain assumptions and estimates regarding future operating results, the extent and timing of future cash flows, working capital, sales prices, profitability, discount rates and growth trends. While we believe that these assumptions and estimates are reasonable, the actual results may differ materially from the projected results. Intangible assets with indefinite useful lives are tested for impairment annually or more frequently if circumstances indicate that impairment may exist. This test compares the carrying value of the indefinite lived intangible assets with their estimated fair value. If the carrying value is more than the estimated fair value, impairment losses are recognized in an amount equal to the excess of the carrying value over the estimated fair value. Our impairment methodology uses discounted cash flow and estimated royalty rate valuation techniques. These valuation methods require us to make certain assumptions and estimates regarding future operating results, sales prices, discount rates and growth trends. While we believe that such assumptions and estimates are reasonable, the actual results may differ materially from the projected results. Other intangible assets primarily include trade names, customer bases and noncompetition agreements resulting from business acquisitions. Other intangible assets are recorded at fair value at the date of acquisition. Amortization is provided using the straight-line method over their estimated useful lives, ranging from two to twenty years. The carrying value of amortizable intangible assets is subject to an impairment test when events or circumstances indicate a possible impairment. When events or circumstances indicate a possible impairment, we assess recoverability from future operations using undiscounted cash flows derived from the lowest appropriate asset group. If the carrying value exceeds the undiscounted cash flows, an impairment charge would be recognized to the extent that the carrying value exceeds the fair value, which is determined based on a discounted cash flow analysis. While we believe that assumptions and estimates utilized in the impairment analysis are reasonable, the actual results may differ materially from the projected results. These impairments are determined prior to performing our goodwill impairment test.
Derivatives and Hedging	Derivatives and Hedging: From time to time, we utilize interest rate swaps to reduce our exposure to potential interest rate increases. Changes in the fair values of our derivative instruments are based upon independent market quotes. We do not designate our interest rate swaps as hedging instruments; therefore, we record our interest rate swaps on the consolidated balance sheets at fair value, with the gains and losses recognized in earnings in the period of change. We utilize foreign exchange forward contracts (exchange contracts) and options to manage our foreign exchange rate risks resulting from purchase commitments and sales orders. Changes in the fair values of our exchange contracts are based upon independent market quotes. We do not designate our exchange contracts as hedging instruments; therefore, we record our exchange contracts on the consolidated balance sheets at fair value, with the gains and losses recognized in earnings in the period of change.
Fair Value	Fair Value: We measure certain of our assets and liabilities at fair value on a recurring basis. Fair value is an exit price, representing the amount that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or a liability. A three-tier fair value hierarchy is established as a basis for considering such assumptions for inputs used in the valuation methodologies to measuring fair value: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity has the ability to access at the measurement date. Level 2: Significant observable inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, and other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs for the asset or liability. Unobservable inputs reflect our own assumptions about the assumptions that market participants would use in pricing an asset or liability (including all assumptions about risk). Certain assets and liabilities are measured at fair value on a nonrecurring basis. Our assets and liabilities measured at fair value on a nonrecurring basis include property, plant and equipment, goodwill and other intangible assets. We do not measure these assets at fair value on an ongoing basis; however, these assets are subject to fair value adjustments in certain circumstances, such as when there is evidence of impairment. Our impairment methodology for goodwill and other intangible assets uses both (i) a discounted cash flow analysis requiring certain assumptions and estimates to be made regarding the extent and timing of future cash flows, discount rates and growth trends and (ii) valuation based on our publicly traded common stock. As all of the assumptions employed to measure these assets and liabilities on a nonrecurring basis are based on management’s judgment using internal and external data, these fair value determinations are classified as Level 3. We have not elected to apply the fair value option to any of our eligible financial assets and liabilities.
Insurance	Insurance: We are self-insured for physical damage to automobiles that we own, lease or rent, and product warranty and recall liabilities. In addition, we maintain a nonmaterial deductible program as they relate to insurance for property, stock throughput, inventory, workers’ compensation, automobile liability, asbestos claims, general liability claims (including, among others, certain product liability claims for property damage, death or injury) and employee healthcare. These programs have deductibles ranging from $25,000 to $1.0 million and are secured by various letters of credit totaling $6.5 million. Our estimated liability and related expenses for claims are based in part upon estimates that insurance carriers, third-party administrators and actuaries provide. We believe that insurance reserves are sufficient to cover outstanding claims, including those incurred but not reported as of the estimation date. Further, we maintain a commercially reasonable umbrella/excess policy that covers liabilities in excess of the primary limits. We do not have excess coverage for physical damage to automobiles that we own, lease or rent, and product warranty and recall liabilities. Our accrued liabilities related to all deductibles/retentions under insurance programs (other than employee healthcare) were $7.8 million and $5.9 million as of December 31, 2013 and 2012, respectively. In the area of employee healthcare, we have a commercially reasonable excess stop loss protection on a per person per year basis. Reserves for self-insurance accrued liabilities for employee healthcare were $3.3 million and $4.0 million as of December 31, 2013 and 2012, respectively.
Income Taxes	Income Taxes: We use the liability method for determining our income taxes, under which current and deferred tax liabilities and assets are recorded in accordance with enacted tax laws and rates. Under this method, the amounts of deferred tax liabilities and assets at the end of each period are determined using the tax rate expected to be in effect when taxes are actually paid or recovered. Deferred tax assets and liabilities are recorded for differences between the financial reporting and tax bases of assets and liabilities using the tax rate expected to be in effect when the taxes will actually be paid or refunds received. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period that includes the enactment date. A valuation allowance to reduce deferred tax assets is established when it is more likely than not that some portion or all of the deferred tax assets will not be realized. In determining the need for valuation allowances and our ability to utilize our deferred tax assets, we consider and make judgments regarding all the available positive and negative evidence, including the timing of the reversal of deferred tax liabilities, estimated future taxable income, ongoing, prudent and feasible tax planning strategies and recent financial results of operations. The amount of the deferred tax assets considered realizable however could be adjusted in the future if objective negative evidence in the form of cumulative losses is no longer present in certain jurisdictions and additional weight may be given to subjective evidence such as our projections for growth. Our tax provision is based upon our expected taxable income and statutory rates in effect in each country in which we operate. We are subject to the jurisdiction of numerous domestic and foreign tax authorities, as well as to tax agreements and treaties among these governments. Determination of taxable income in any jurisdiction requires the interpretation of the related tax laws and regulations and the use of estimates and assumptions regarding significant future events such as the amount, timing and character of deductions, permissible revenue recognition methods under the tax law and the sources and character of income and tax credits. Changes in tax laws, regulations, agreements and treaties, foreign currency exchange restrictions or our level of operations or profitability in each taxing jurisdiction could have an impact on the amount of income taxes we provide during any given year. A tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including any related appeals or litigation processes, on the basis of the technical merits. We adjust these liabilities when our judgment changes as a result of the evaluation of new information not previously available. Because of the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from our current estimate of the tax liabilities. These differences will be reflected as increases or decreases to income tax expense in the period in which the new information is available. We classify interest and penalties related to unrecognized tax positions as income taxes in our financial statements. We intend to permanently reinvest certain earnings of our foreign subsidiaries in operations outside the U.S., and accordingly, we have not provided for U.S. income taxes on such earnings.
Foreign Currency Translation and Transactions	Foreign Currency Translation and Transactions: The functional currency of our foreign operations is the applicable local currency. The cumulative effects of translating the balance sheet accounts from the functional currency into the U.S. dollar at current exchange rates are included in accumulated other comprehensive income. The balance sheet accounts (with the exception of stockholders’ equity) are translated using current exchange rates as of the balance sheet date. Stockholders’ equity is translated at historical exchange rates and revenue and expense accounts are translated using a weighted-average exchange rate during the year. Gains or losses resulting from foreign currency transactions are recognized in the consolidated statements of income.
Equity-Based Compensation	Equity-Based Compensation: Our equity-based compensation consisted and consists of (i) restricted common units and profit units of PVF Holdings LLC, our former parent, and (ii) restricted stock and nonqualified stock options of our Company. The cost of employee services received in exchange for an award of an equity instrument is measured based on the grant-date fair value of the award. Our policy is to expense equity-based compensation using the fair-value of awards granted, modified or settled. Restricted common units, profit units and restricted stock are credited to equity as they are expensed over their vesting periods based on the grant date value of the shares vested. The fair value of nonqualified stock options is measured on the grant date of the related equity instrument using the Black-Scholes option-pricing model and is recognized as compensation expense over the applicable vesting period.
Revenue Recognition	Revenue Recognition: Sales to our principal customers are made pursuant to agreements that normally provide for transfer of legal title and risk upon shipment. We recognize revenue as products are shipped, title has transferred to the customer and the customer assumes the risks and rewards of ownership, and collectability is reasonably assured. Freight charges billed to customers are reflected in revenues. Return allowances are estimated using historical experience. Amounts received in advance of shipment are deferred and recognized as revenue when the products are shipped and title transfers. Sales taxes collected from customers and remitted to governmental authorities are accounted for on a net basis and therefore are excluded from net sales in the accompanying consolidated statements of income.
Cost of Sales	Cost of Sales: Cost of sales includes the cost of inventory sold and related items, such as vendor rebates, inventory allowances, and shipping and handling costs associated with inbound and outbound freight, as well as depreciation and amortization and amortization of intangible assets. Certain purchasing costs and warehousing activities (including receiving, inspection and stocking costs), as well as general warehousing expenses, are included in selling, general and administrative expenses and not in cost of sales. As such, our gross profit may not be comparable to others that may include these expenses as a component of cost of sales. Purchasing and warehousing costs approximated $37.2 million, $34.8 million, and $27.3 million for the years ended December 31, 2013, 2012 and 2011, respectively.
Earnings Per Share	Earnings per Share: Basic earnings per share are computed based on the weighted-average number of common shares outstanding, excluding any dilutive effects of unexercised stock options and unvested restricted stock. Diluted earnings per share are computed based on the weighted-average number of common shares outstanding including any dilutive effect of unexercised stock options and unvested restricted stock. The dilutive effect of unexercised stock options and unvested restricted stock is calculated under the treasury stock method.
Concentration of Credit Risk	Concentration of Credit Risk: Most of our business activity is with customers in the energy and industrial sectors. In the normal course of business, we grant credit to these customers in the form of trade accounts receivable. These receivables could potentially subject us to concentrations of credit risk; however, we minimize this risk by closely monitoring extensions of trade credit. We generally do not require collateral on trade receivables. We have a broad customer base doing business in many regions of the world. During 2013, 2012 and 2011, we did not have sales to any one customer in excess of 10% of gross sales. At those respective year-ends, no individual customer balances exceeded 10% of gross accounts receivable. We have a broad supplier base, sourcing our products in most regions of the world. During 2013, 2012 and 2011, we did not have purchases from any one vendor in excess of 10% of our gross purchases. At those respective year-ends no individual vendor balance exceeded 10% of gross accounts payable. We maintain the majority of our cash and cash equivalents with several financial institutions. These financial institutions are located in many different geographical regions with varying economic characteristics and risks. Deposits held with banks may exceed insurance limits. We believe the risk of loss associated with our cash equivalents to be remote.
Segment Reporting	Segment Reporting: We have three operating and reportable segments, the United States of America, Canada, and International, which includes Europe, Asia, and Australasia. These segments represent our global business of providing pipe, valves, fittings and related products and services to the energy and industrial sectors, across each of the upstream (exploration, production and extraction of underground oil and gas), midstream (gathering and transmission of oil and gas, gas utilities, and the storage and distribution of oil and gas) and downstream (crude oil refining and petrochemical processing) markets, through our distribution operations located throughout the world.
Reclassifications	Reclassifications: Certain immaterial amounts in the prior years’ balance sheet and statements of cash flows have been reclassified to conform to the current year’s presentation.
Recently Issued Accounting Standards	Recently Issued Accounting Standards: In February 2013, the Financial Accounting Standards Board (“FASB”) issued Standards Update No. 2013-05, Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity (ASU 2013-05), which specifies that a cumulative translation adjustment (“CTA”) should be released into earnings when an entity ceases to have a controlling financial interest in a subsidiary or group of assets within a consolidated foreign entity and the sale or transfer results in the complete or substantially complete liquidation of the foreign entity. For sales of an equity method investment that is a foreign entity, a pro rata portion of CTA attributable to the investment would be recognized in earnings upon sale of the investment. When an entity sells either a part or all of its investment in a consolidated foreign entity, CTA would be recognized in earnings only if the sale results in the parent no longer having a controlling financial interest in the foreign entity. CTA would be recognized in earnings in a business combination achieved in stages. ASU 2013-05 will be effective for us prospectively in 2014. We do not expect this update to have a material impact on our financial statements. In July 2013, the FASB issued Standards Update No. 2013-11, Income Taxes (Topic 740), Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The objective of this update is to eliminate the diversity in practice in the presentation of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. Under this guidance, an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward, except in certain circumstances. This update does not require any new disclosures and is effective for annual and interim periods beginning after December 31, 2013. The amendments in this update will be applied prospectively to all unrecognized tax benefits that exist at the effective date. We do not expect this update to have a material impact on our financial statements.

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2013

Acquisitions [Abstract]


	2013
	Acquisitions
Net assets acquired:
Current assets, net of cash acquired	$ 18.6
Other long-term assets	1.8
Customer base intangibles	9.7
Other intangible assets	2.3
Goodwill	24.7
Current liabilities	(9.8)
Other long-term liabilities	(0.5)
Cash consideration paid	$ 46.8

Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2013

Accounts Receivable [Abstract]

Summary of Allowance for Doubtful Accounts


	December 31,
	2013	2012	2011
Allowance for doubtful accounts
Beginning balance	$ 5,270	$ 4,815	$ 4,451
Net Charge-offs	(2,435)	(1,973)	(69)
Provision	(298)	2,428	433
Ending balance	$ 2,537	$ 5,270	$ 4,815

Inventories (Tables)

12 Months Ended

Dec. 31, 2013

Inventories [Abstract]

Composition of Inventory


	December 31,
	2013	2012
Finished goods inventory at average cost:
Energy carbon steel tubular products	$ 362,449	$ 387,609
Valves, fittings, flanges and all other products	763,119	752,630
	1,125,568	1,140,239
Less: Excess of average cost over LIFO cost (LIFO reserve)	(130,802)	(150,982)
Less: Other inventory reserves	(23,199)	(19,029)
	$ 971,567	$ 970,228

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment


		December 31,
	Depreciable Life	2013	2012
Land and improvements	-	$ 16,930	$ 17,465
Building and building improvements	40 years	63,494	58,090
Machinery and equipment	3 to 10 years	137,254	130,289
Property held under capital leases	20 to 30 years	4,438	3,500
		222,116	209,344
Allowances for depreciation and amortization		(103,193)	(86,886)
		$ 118,923	$ 122,458

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2013

Goodwill and Other Intangible Assets [Abstract]

Changes in Carrying Amount of Goodwill by Segment


	US	Canada	International	Total
Goodwill at December 31, 2010 (1)	$ 509,478	$ -	$ 39,906	$ 549,384
Acquisition of VSC	2,780	-	-	2,780
Acquisition of MRC SPF	-	-	11,565	11,565
Other	(211)	-	-	(211)
Effect of foreign currency translation	-	-	(2,248)	(2,248)

Goodwill at December 31, 2011 (1)	$ 512,047	$ -	$ 49,223	$ 561,270
Acquisition of MRC PSA	-	-	21,829	21,829
Acquisition of PSS	25,051	-	-	25,051
Adjustment of MRC SPF purchase price	-	-	1,197	1,197
Effect of foreign currency translation	-	-	1,045	1,045

Goodwill at December 31, 2012 (1)	$ 537,098	$ -	$ 73,294	$ 610,392
Acquisition of Flow Control	15,257	-	-	15,257
Acquisition of Flangefitt	-	-	9,472	9,472
Adjustment of PSS purchase price	(378)	-	-	(378)
Effect of foreign currency translation	-	-	(2,459)	(2,459)

Goodwill at December 31, 2013 (1)	$ 551,977	$ -	$ 80,307	$ 632,284

(1)Net of accumulated impairment losses of $240.9 million and $69.0 million in the U.S and Canadian segments, respectively.

Schedule of Other Intangible Assets by Major Classification


	Weighted-
	Average
	Amortization		Accumulated	Net Book
	Period (in years)	Gross	Amortization	Value
December 31, 2013
Customer base	15.8	$ 730,108	$ (291,116)	$ 438,992
Amortizable trade names	6.1	18,099	(9,268)	8,831
Indefinite lived trade names (1)	N/A	260,023	-	260,023
Noncompete agreements	3.0	244	(81)	163
	15.5	$ 1,008,474	$ (300,465)	$ 708,009

December 31, 2012
Customer base	15.8	$ 721,010	$ (242,355)	$ 478,655
Amortizable trade names	6.7	15,671	(6,577)	9,094
Indefinite lived trade names (1)	N/A	260,023	-	260,023
Noncompete agreements	3.8	2,470	(970)	1,500
	15.6	$ 999,174	$ (249,902)	$ 749,272

(1)Net of accumulated impairment losses of $76.2 million.

Schedule of Amortization of Intangible Assets


2014		$ 53,830
2015		53,207
2016		51,671
2017		50,023
2018		49,092

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

Components of Long-Term Debt

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2013

Long-Term Debt [Abstract]


	December 31,
	2013	2012
Senior Secured Term Loan B, net of discount of $4,457 and $6,345	$ 787,059	$ 642,030
Global ABL Facility	199,630	608,006
Other	145	6,553
	986,834	1,256,589
Less current portion	7,935	6,500
	$ 978,899	$ 1,250,089

Interest on Borrowings


	December 31,
	2013	2012
Senior Secured Term Loan B, net of discount	5.09%	6.39%
Global ABL Facility	2.12%	2.21%

Schedule of Maturities of Long-Term Debt


2014	$ 7,935
2015	8,080
2016	7,935
2017	207,565
2018	7,935
Thereafter	747,384

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.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6584090&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Paragraph 6
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 22
-Article 5

Derivative Financial Instruments [Abstract]

Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value of Derivative Instruments Recorded in Consolidated Balance Sheets


	December 31, 2013		December 31, 2012
	Assets	Liabilities	Assets	Liabilities
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts (1)	$ 4,603	$ -	$ 3	$ -

Amount of Gains and (Losses) Recognized in Consolidated Statements of Operations Related to Derivative Instruments


	Year Ended December 31,
Derivatives not designated as hedging instruments:	2013	2012	2011
Foreign exchange forward contracts	$ 4,731	$ 176	$ 71
Interest rate contracts	$ -	$ 2,010	$ 6,973

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

Components of Income Before Income Taxes

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Taxes [Abstract]


	Year Ended December 31,
	2013	2012	2011
United States	$ 231,434	$ 156,226	$ 50,654
Foreign	5,477	25,470	5,114
	$ 236,911	$ 181,696	$ 55,768

Summary of Income Taxes Included in Consolidated Statements of Income


	Year Ended December 31,
	2013	2012	2011
Current:
Federal	$ 90,063	$ 65,563	$ 32,080
State	8,058	6,569	2,878
Foreign	6,518	12,038	8,188
	104,639	84,170	43,146

Deferred:
Federal	(21,102)	(15,776)	(14,960)
State	2,818	(1,256)	(1,177)
Foreign	(1,539)	(3,400)	(225)
	(19,823)	(20,432)	(16,362)
Income tax expense	$ 84,816	$ 63,738	$ 26,784

Reconcilation of Statutory Federal Income Tax Rate


	Year Ended December 31,
	2013	2012	2011
Federal tax expense at statutory rates	$ 82,918	$ 63,474	$ 19,518
State taxes	3,855	3,453	977
Nondeductible expenses	1,152	1,123	1,121
Effect of tax rate changes on existing temporary differences	3,074	-	3,993
Effect of foreign operations	(9,752)	(3,565)	(499)
Change in valuation allowance	7,714	(78)	522
Other	(4,145)	(669)	1,152
Income tax expense	$ 84,816	$ 63,738	$ 26,784
Effective tax rate	35.8%	35.1%	48.0%

Components of Current Deferred Tax Assets and Liabilities


	December 31,
	2013	2012
Deferred tax assets:
Allowance for doubtful accounts	$ 1,265	$ 2,046
Accruals and reserves	16,603	12,617
Net operating loss and tax credit carryforwards	13,423	5,453
Other	1,270	1,504
Subtotal	32,561	21,620
Valuation allowance	(14,155)	(2,059)
Total	18,406	19,561

Deferred tax liabilities:
Accounts receivable	-	(4,550)
Inventory valuation	(81,208)	(79,575)
Property, plant and equipment	(8,538)	(11,210)
Intangible assets	(236,832)	(252,976)
Debt	(5,798)	(5,745)
Other	(177)	(11)
Total	(332,553)	(354,067)
Net deferred tax liability	$ (314,147)	$ (334,506)

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2013

Stockholders' Equity [Abstract]

Accumulated Other Comprehensive Loss in Accompanying Consolidated Balance Sheets



	December 31,
	2013	2012
Currency translation adjustments	$ (40,173)	$ (21,829)
Pension related adjustments	(249)	(335)
Accumulated other comprehensive loss	$ (40,422)	$ (22,164)

Earnings Per Share


	Year Ended December 31,
	2013	2012	2011
Net income	$ 152,095	$ 117,958	$ 28,984

Average basic shares outstanding	101,712	96,465	84,417
Effect of dilutive securities	810	460	238
Average diluted shares outstanding	102,522	96,925	84,655

Net income per share:
Basic	$ 1.50	$ 1.22	$ 0.34
Diluted	$ 1.48	$ 1.22	$ 0.34

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2013

Employee Benefit Plans [Abstract]

Schedule of Stock Options Activity


			Weighted
		Weighted	Average
		Average	Remaining	Aggregate
		Exercise	Contractual	Intrinsic
	Options	Price	Term	Value
			(years)	(thousands)
Stock Options
Balance at December 31, 2012	3,758,758	$ 18.05	7.4	$ 36,585
Granted	726,746	29.53
Exercised	(262,586)	12.50
Forfeited	(286,257)	22.62
Expired	(2,576)	12.52
Balance at December 31, 2013	3,934,085	$ 20.47	7.0	$ 46,144


At December 31, 2013
Options outstanding, vested and exercisable	2,397,955	$ 17.75	5.8	$ 34,772
Options outstanding, vested and expected to vest	3,883,434	$ 20.40	6.9	$ 45,798

Schedule of Restricted Stock Option Activity



		Weighted
		Average
		Grant-Date
	Shares	Fair Value
Restricted Stock
Nonvested at December 31, 2012	134,211	$ 15.65
Granted	99,163	29.52
Vested	(135,179)	15.76
Forfeited	(4,712)	29.87
Nonvested at December 31, 2013	93,483	$ 29.48

Summarized Award Activity Under Stock Option and Restricted Stock Plans


	Year Ended December 31,
	2013	2012	2011
Stock Options
Weighted-average, grant-date fair value of awards granted	$ 12.10	$ 6.52	$ 3.46
Total intrinsic value of stock options exercised	4,717,693	1,089,830	1,715
Total fair value of stock options vested	6,352,967	1,370,130	1,833,836


	Year Ended December 31,
	2013	2012	2011
Restricted Stock
Weighted-average, grant-date fair value of awards granted	$ 29.48	$ 15.65	$ 14.36
Total fair value of restricted stock vested	4,173,834	484,141	378,670

Weighted-Average Assumptions Used to Estimate Fair Values of Stock Options


	Year Ended December 31,
	2013	2012	2011
Risk-free interest rate	0.86%	0.90%	1.32%
Dividend yield (1)	0.00%	0.00%	0.00%
Expected volatility	40.96%	41.87%	46.05%
Expected life (in years)	6.2	6.6	5.0

(1)

The expected dividend yield reflects the restriction on our ability to pay dividends and does not anticipate “special” dividends.

Recognized Compensation Expense and Related Income Tax Benefits Under Equity-Based Compensation Plans


	Year Ended December 31,
	2013	2012	2011
Equity-based compensation expense:
Stock options	$ 13,329	$ 7,533	$ 6,707
Restricted stock	2,159	481	412
Restricted common units	-	-	(1)
Profit units	-	461	1,267
Total equity-based compensation expense	$ 15,488	$ 8,475	$ 8,385
Income tax benefits related to equity-based compensation	$ 5,743	$ 3,114	$ 3,081

Unrecognized Compensation Expense Under Equity-Based Compensation Plans


	Weighted-
	Average Vesting	December 31,
	Period (in years)	2013
Unrecognized equity-based compensation expense:
Stock options	2.9	$ 10,168
Restricted stock	3.5	1,950
Total unrecognized equity-based compensation expense		$ 12,118

Segment, Geographic and Product Line Information (Tables)

12 Months Ended

Dec. 31, 2013

Segment, Geographic and Product Line Information [Abstract]

Schedule of Financial Information for Each Segment


	Year Ended December 31,
	2013	2012	2011
Sales
U.S.	$ 3,967.6	$ 4,238.4	$ 3,849.2
Canada	709.4	765.2	653.6
International	553.8	567.2	329.6
Consolidated sales	$ 5,230.8	$ 5,570.8	$ 4,832.4

Depreciation and amortization
U.S.	$ 13.6	$ 11.2	$ 11.6
Canada	2.0	2.1	2.5
International	6.7	5.3	2.9
Total depreciation and amortization expense	$ 22.3	$ 18.6	$ 17.0

Amortization of intangibles
U.S.	$ 42.4	$ 40.0	$ 40.1
Canada	2.4	2.5	4.5
International	7.3	7.0	6.1
Total amortization of intangibles expense	$ 52.1	$ 49.5	$ 50.7

Operating income
U.S.	$ 280.1	$ 358.3	$ 166.5
Canada	20.9	27.2	17.4
International	10.8	21.5	10.7
Total operating income	311.8	407.0	194.6

Interest expense	60.7	112.5	136.8
Loss on early extinguishment of debt	-	114.0	-
Other (income) expense	14.2	(1.2)	2.0
Income before income taxes	$ 236.9	$ 181.7	$ 55.8


	December 31,
	2013	2012
Total assets
United States	$ 2,732.3	$ 2,732.4
Canada	204.7	249.1
International	398.7	388.2
Total assets	$ 3,335.7	$ 3,369.7

Schedule of Percentages of Fixed Assets by Geographical Areas


	December 31,
	2013	2012
Fixed assets
United States	57%	56%
Canada	24%	24%
International	19%	20%
Total fixed assets	100%	100%

Schedule of Net Sales by Product Line


	Year Ended December 31,
Type	2013		2012		2011
Energy carbon steel tubular products:
Line pipe	$ 1,061,881	20%	$ 1,158,512	21%	$ 1,033,976	21%
Oil country tubular goods (OCTG)	463,656	9%	715,108	13%	809,163	17%
	$ 1,525,537	29%	$ 1,873,620	34%	$ 1,843,139	38%


Valves, fittings, flanges and other products:
Valves and specialty products	$ 1,440,431	28%	$ 1,431,888	26%	$ 1,143,234	24%
Carbon steel fittings and flanges and stainless steel
and alloy pipe and fittings	1,135,818	22%	1,175,276	21%	870,581	18%
Other	1,129,006	21%	1,090,074	19%	975,469	20%
	$ 3,705,255	71%	$ 3,697,238	66%	$ 2,989,284	62%

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value Measurements [Abstract]


	Fair Value Measurements at Reporting Date Using
	Total	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)
December 31, 2013
Assets:	$ 4,603	$ -	$ 4,603	$ -
Liabilities:	-	-	-	-

December 31, 2012
Assets:	$ 3	$ -	$ 3	-
Liabilities:	-	-	-	-

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2013

Commitments and Contingencies [Abstract]

Future Minimum Lease Payment under Noncancelable Operating and Capital Lease Arrangements


	Operating Leases	Capital Leases
2014	$ 41,328	$ 628
2015	33,268	297
2016	24,208	158
2017	18,448	117
2018	14,244	131
Thereafter	16,686	568
	$ 148,182	$ 1,899

Quarterly Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2013

Quarterly Information (Unaudited) [Abstract]

Schedule of Quarterly Financial Information


	First	Second	Third	Fourth	Year
2013
Revenues	$ 1,305.1	$ 1,267.8	$ 1,313.7	$ 1,344.2	$ 5,230.8
Gross profit	246.6	243.9	238.3	226.0	954.8
Net income (1)	46.2	43.9	38.8	23.3	152.1
EPS:
Basic (1)	$ 0.45	$ 0.43	$ 0.38	$ 0.23	$ 1.50
Diluted (1)	$ 0.45	$ 0.43	$ 0.38	$ 0.23	$ 1.48

2012
Revenues	$ 1,382.6	$ 1,430.4	$ 1,451.1	$ 1,306.7	$ 5,570.8
Gross profit	236.6	241.7	277.2	258.3	1,013.7
Net income (loss) (1)	37.5	31.3	55.5	(6.4)	118.0
EPS:
Basic (1)	$ 0.44	$ 0.32	$ 0.55	$ (0.06)	$ 1.22
Diluted (1)	$ 0.44	$ 0.32	$ 0.54	$ (0.06)	$ 1.22

_______________

(1)Net income and EPS do not add across due to rounding and transactions resulting in differing weighted average shares outstanding on a quarterly basis.

Significant Accounting Policies (Details)	12 Months Ended
Significant Accounting Policies (Details)	Dec. 31, 2013 USD ($) segment	Dec. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)
Significant Accounting Policies [Line Items]
Inventory not valued at LIFO	$ 264,000,000	$ 318,900,000
Allowances for excess and obsolete inventories	23,199,000	19,029,000
Debt issuance costs	19,100,000	25,200,000
Accumulated amortization of debt issuance costs	5,700,000	4,800,000
Letters of credit securing non-material deductible program	6,500,000
Accrued liabilities related to deductibles/retentions under insurance programs	7,800,000	5,900,000
Self-insurance reserves	3,300,000	4,000,000
Purchasing and warehousing costs not included in cost of sales	$ 37,200,000	$ 34,800,000	$ 27,300,000
Number of operating and reportable segments \| segment	3
Vendor Concentration Risk [Member]
Significant Accounting Policies [Line Items]
Balance in excess of 10% of gross total	0.00%	0.00%	0.00%
Concentration risk benchmark percentage	10.00%	10.00%	10.00%
Sales [Member] \| Customer Concentration Risk [Member]
Significant Accounting Policies [Line Items]
Balance in excess of 10% of gross total	0.00%	0.00%	0.00%
Concentration risk benchmark percentage	10.00%	10.00%	10.00%
Trade Accounts Receivable [Member] \| Customer Concentration Risk [Member]
Significant Accounting Policies [Line Items]
Balance in excess of 10% of gross total	0.00%	0.00%	0.00%
Concentration risk benchmark percentage	10.00%	10.00%	10.00%
Accounts Payable [Member] \| Vendor Concentration Risk [Member]
Significant Accounting Policies [Line Items]
Balance in excess of 10% of gross total	0.00%	0.00%	0.00%
Concentration risk benchmark percentage	10.00%	10.00%	10.00%
Minimum [Member]
Significant Accounting Policies [Line Items]
Amortization based on straight-line method, years	2 years
Deductible	$ 25,000
Maximum [Member]
Significant Accounting Policies [Line Items]
Amortization based on straight-line method, years	20 years
Deductible	$ 1,000,000

Acquisitions (Narrative) (Details) $ in Millions	12 Months Ended
Acquisitions (Narrative) (Details) $ in Millions	Dec. 31, 2013 USD ($) item	Dec. 31, 2012 USD ($) item	Dec. 31, 2011 USD ($) item
Acquisitions [Abstract]
Number of acquisitions during the period \| item	2	3	2
Purchase price \| $	$ 46.8	$ 152.4	$ 41.9

Acquisitions (Schedule of Purchase Price Allocation) (Details) $ in Millions	Dec. 31, 2013 USD ($)
Net assets acquired:
Current assets, net of cash acquired	$ 18.6
Other long-term assets	1.8
Customer base intangibles	9.7
Other intangible assets	2.3
Goodwill	24.7
Current liabilities	(9.8)
Other long-term liabilities	(0.5)
Cash consideration paid	$ 46.8

Accounts Receivable (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Accounts Receivable [Abstract]
Other allowances for accounts receivable	$ 3.1	$ 3.3

Accounts Receivable (Summary of Allowance for Doubtful Accounts) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Allowance for doubtful accounts
Beginning balance	$ 5,270	$ 4,815	$ 4,451
Net charge-offs	(2,435)	(1,973)	(69)
Provision	(298)	2,428	433
Ending balance	$ 2,537	$ 5,270	$ 4,815

Inventories (Details) - USD ($)	12 Months Ended
Inventories (Details) - USD ($)	Dec. 31, 2013	Dec. 31, 2012
Finished goods inventory at average cost:
Finished goods inventory at average cost	$ 1,125,568,000	$ 1,140,239,000
Less: Excess of average cost over LIFO cost (LIFO reserve)	(130,802,000)	(150,982,000)
Less: Other inventory reserves	(23,199,000)	(19,029,000)
Inventories, net	971,567,000	970,228,000
Effect of LIFO decrement on cost of sales	0	1,300,000
Energy Carbon Steel Tubular Products [Member]
Finished goods inventory at average cost:
Finished goods inventory at average cost	362,449,000	387,609,000
Valves, Fittings, Flanges and all Other Products [Member]
Finished goods inventory at average cost:
Finished goods inventory at average cost	$ 763,119,000	$ 752,630,000

The amount of the valuation account as of the balance sheet date which reduces the carrying amount of inventory to net realizable value; takes into consideration such factors as market value, excessive quantities based on expected sales, technological obsolescence, and shrinkage. May also provide for estimated product returns or price concessions pertaining to product cost.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 5.BB)
-URI http://asc.fasb.org/extlink&oid=6386940&loc=d3e100047-122729

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.6(a))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SX 210.12-09)
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e24092-122690

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-SubTopic 10
-Section 35
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6386567&loc=d3e3927-108312

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Paragraph 14
-Chapter 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Paragraph 8, 9, 14
-Chapter 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Section A
-Paragraph 9
-Chapter 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 09
-Article 12

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 6
-Subparagraph a
-Article 5

Schedule Of Intangible Assets By Segment [Line Items]

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 222,116	$ 209,344
Allowances for depreciation and amortization	(103,193)	(86,886)
Property, Plant and Equipment, Net, Total	118,923	122,458
Land and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 16,930	17,465
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Depreciable Life	40 years
Property, plant and equipment, gross	$ 63,494	58,090
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 137,254	130,289
Machinery and Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Depreciable Life	3 years
Machinery and Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Depreciable Life	10 years
Property Held Under Capital Leases [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 4,438	$ 3,500
Property Held Under Capital Leases [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Depreciable Life	20 years
Property Held Under Capital Leases [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, Depreciable Life	30 years

Goodwill and Other Intangible Assets (Changes in Carrying Amount of Goodwill by Segment) (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Effect of foreign currency translation

^[1]

$ 610,392

$ 561,270

$ 549,384

Other

(211)

(2,459)

1,045

(2,248)

632,284

610,392

^[1]

561,270

^[1]

Acquisition of VSC [Member]

76,200

Schedule Of Intangible Assets By Segment [Line Items]

Acquisition of MRC SPF [Member]

2,780

Schedule Of Intangible Assets By Segment [Line Items]

11,565

Acquisition of MRC PSA [Member]

1,197

Schedule Of Intangible Assets By Segment [Line Items]

Flow Control Products [Member]

21,829

Schedule Of Intangible Assets By Segment [Line Items]

Flangefitt Stainless Ltd. [Member]

15,257

Schedule Of Intangible Assets By Segment [Line Items]

Acquisition of PSS [Member]

9,472

Schedule Of Intangible Assets By Segment [Line Items]

25,051

Schedule Of Intangible Assets By Segment [Line Items]

(378)

U.S. [Member]

^[1]

537,098

512,047

509,478

Other

(211)

551,977

537,098

^[1]

512,047

^[1]

U.S. [Member] | Acquisition of VSC [Member]

240,900

Schedule Of Intangible Assets By Segment [Line Items]

U.S. [Member] | Flow Control Products [Member]

2,780

Schedule Of Intangible Assets By Segment [Line Items]

U.S. [Member] | Acquisition of PSS [Member]

15,257

Schedule Of Intangible Assets By Segment [Line Items]

25,051

Schedule Of Intangible Assets By Segment [Line Items]

(378)

Canada [Member]

Effect of foreign currency translation

^[1]

Other

^[1]

Canada [Member] | Acquisition of VSC [Member]

69,000

Schedule Of Intangible Assets By Segment [Line Items]

Canada [Member] | Acquisition of MRC SPF [Member]

Schedule Of Intangible Assets By Segment [Line Items]

Canada [Member] | Acquisition of MRC PSA [Member]

Schedule Of Intangible Assets By Segment [Line Items]

Canada [Member] | Flow Control Products [Member]

Schedule Of Intangible Assets By Segment [Line Items]

Canada [Member] | Flangefitt Stainless Ltd. [Member]

Schedule Of Intangible Assets By Segment [Line Items]

Canada [Member] | Acquisition of PSS [Member]

Schedule Of Intangible Assets By Segment [Line Items]

Schedule Of Intangible Assets By Segment [Line Items]

International [Member]

Effect of foreign currency translation

^[1]

73,294

49,223

39,906

(2,459)

1,045

(2,248)

International [Member] | Acquisition of MRC SPF [Member]

80,307

73,294

^[1]

49,223

^[1]

Schedule Of Intangible Assets By Segment [Line Items]

$ 11,565

International [Member] | Acquisition of MRC PSA [Member]

1,197

Schedule Of Intangible Assets By Segment [Line Items]

International [Member] | Flangefitt Stainless Ltd. [Member]

$ 21,829

Schedule Of Intangible Assets By Segment [Line Items]

$ 9,472

[1]	Net of accumulated impairment losses of $240.9 million and $69.0 million in the U.S and Canadian segments, respectively.

Goodwill and Other Intangible Assets (Schedule of Other Intangible Assets by Major Classification) (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

15 years 6 months

15 years 7 months 6 days

$ 1,008,474

$ 999,174

(300,465)

(249,902)

708,009

$ 749,272

$ 76,200

Customer Base [Member]

15 years 9 months 18 days

$ 730,108

$ 721,010

(291,116)

(242,355)

Amortizable Trade Names [Member]

$ 438,992

$ 478,655

6 years 1 month 6 days

6 years 8 months 12 days

$ 18,099

$ 15,671

(9,268)

(6,577)

Noncompete Agreements [Member]

$ 8,831

$ 9,094

3 years

3 years 9 months 18 days

$ 244

$ 2,470

(81)

(970)

Indefinite Lived Trade Names [Member]

163

1,500

^[1]

260,023

Derivatives, Fair Value [Line Items]

^[1]

$ 260,023

[1]	Net of accumulated impairment losses of $76.2 million.

Goodwill and Other Intangible Assets (Schedule of Amortization of Intangible Assets) (Details) $ in Thousands	Dec. 31, 2013 USD ($)
Goodwill and Other Intangible Assets [Abstract]
2014	$ 53,830
2015	53,207
2016	51,671
2017	50,023
2018	$ 49,092

Long-Term Debt (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	4 Months Ended	12 Months Ended
	Nov. 30, 2012	Sep. 30, 2012	Dec. 31, 2013	Dec. 31, 2012	Nov. 30, 2013
Debt Instrument [Line Items]
Long-term debt			$ 986,834	$ 1,256,589
Purchase of senior secured notes				1,135,223
Interest at base rate			2.00%
Rate based on LIBOR			1.00%
Debt instrument basis spread on variable rate			3.00%
Premium for re-pricing transactions			1.00%
Reduction in cash flow			50.00%
Credit facility, availability			$ 776,900
Maximum [Member]
Debt Instrument [Line Items]
Unrestricted cash of Term Loan			$ 75,000
Senior secured leverage ratio			3.50
Senior Secured Term Loan B, Net of Discount [Member]
Debt Instrument [Line Items]
Long-term debt	$ 650,000		$ 787,059	642,030	$ 793,500
Debt maturity period			7 years
Term Loan accordion feature			$ 200,000
Debt instrument, maturity date			Nov. 09, 2019
Term loan annual amortization percentage			1.00%
Percentage of capital stock in foreign subsidiaries securing Term Loan B			65.00%
9.50% Senior Secured Notes Due 2016 [Member]
Debt Instrument [Line Items]
Long-term debt	861,300	$ 188,700
Interest rate			9.50%
Purchase of senior secured notes		205,000
Redemption resulted in pre-tax loss	92,200	$ 21,700
Payment of premium for early redemption	$ 68,900
Global ABL Facility [Member]
Debt Instrument [Line Items]
Long-term debt			$ 199,630	$ 608,006
Credit facility, durational term			5 years
Credit facility, maximum borrowing capacity			$ 1,250,000
Global ABL accordian feature			$ 300,000
Global ABL Facility [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Maximum Borrowing Base of inventory			70.00%
Global ABL Facility [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Maximum Borrowing Base of accounts receivable			85.00%
Maximum Borrowing Base of inventory			85.00%
Senior Secured Leverage Ratio Is No More Than 2.75 to 1.00 [Member]
Debt Instrument [Line Items]
Reduction in cash flow			25.00%
Senior Secured Leverage Ratio Is No More Than 2.75 to 1.00 [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Senior secured leverage ratio			2.75
Senior Secured Leverage Ratio Is Less Than 2.50 to 1.00 [Member]
Debt Instrument [Line Items]
Debt instrument rate basis step down			0.25%
Reduction in cash flow			0.00%
Senior Secured Leverage Ratio Is Less Than 2.50 to 1.00 [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Senior secured leverage ratio			2.50
Consolidated total leverage ratio			2.50
LIBOR [Member]
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate			4.00%
Other Customary Restrictive Covenants [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Senior secured leverage ratio			3.25
Company May Incur First Lien Indebtedness Pari Passu to the Term Loan [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Senior secured leverage ratio			3.50
Company May Incur Second Lien Indebtedness [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Junior secured leverage ratio			4.00
Company May Incur Unsecured Indebtedness [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Total leverage ratio			5.00
Company May Incur Indebtedness [Member] \| Global ABL Facility [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Indebtedness under Global ABL Facility			$ 1,300,000
Maximum Borrowing Base of accounts receivable			85.00%
Maximum Borrowing Base of inventory			65.00%
United States [Member] \| Global ABL Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			$ 977,000
United States [Member] \| Global ABL Facility [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Rate based on LIBOR			1.50%
United States [Member] \| Global ABL Facility [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Rate based on LIBOR			2.00%
Canada [Member] \| Global ABL Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			$ 170,000
United Kingdom [Member] \| Global ABL Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			12,000
Australia [Member] \| Global ABL Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			75,000
Netherlands [Member] \| Global ABL Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			9,000
Belgium [Member] \| Global ABL Facility [Member]
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity			$ 7,000

Long-Term Debt (Significant Components of Long-Term Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2013	Nov. 30, 2013	Dec. 31, 2012	Nov. 30, 2012
Debt Instrument [Line Items]
Long-term debt	$ 986,834		$ 1,256,589
Less current portion	7,935		6,500
Long-term debt, net	978,899		1,250,089
Senior Secured Term Loan B, Net of Discount [Member]
Debt Instrument [Line Items]
Long-term debt	787,059	$ 793,500	642,030	$ 650,000
Original issue discount on senior secured notes	4,457		6,345
Global ABL Facility [Member]
Debt Instrument [Line Items]
Long-term debt	199,630		608,006
Other [Member]
Debt Instrument [Line Items]
Long-term debt	$ 145		$ 6,553

Long-Term Debt (Interest on Borrowings) (Details)	Dec. 31, 2013	Dec. 31, 2012
Global ABL Facility [Member]
Debt Instrument [Line Items]
Weighted-average interest rate	2.12%	2.21%
Senior Secured Term Loan B, Net of Discount [Member]
Debt Instrument [Line Items]
Weighted-average interest rate	5.09%	6.39%

Long-Term Debt (Schedule of Maturities of Long-Term Debt) (Details) $ in Thousands	Dec. 31, 2013 USD ($)
Long-Term Debt [Abstract]
2014	$ 7,935
2015	8,080
2016	7,935
2017	207,565
2018	7,935
Thereafter	$ 747,384

Derivative Financial Instruments (Fair Value of Derivative Instruments Recorded in Consolidated Balance Sheets) (Details)
$ in Thousands, kr in Billions

Dec. 31, 2013

NOK (kr)

Dec. 31, 2013

USD ($)

Dec. 31, 2012

USD ($)

Foreign exchange forward contracts, Assets

^[1]

$ 4,603

$ 3

Foreign exchange forward contracts, Liabilities

^[1]

Notional amount of forward foreign exchange contracts

331,000

$ 69,000

Foreign Exchange Forward [Member]

Derivatives, Fair Value [Line Items]

Notional amount of forward foreign exchange contracts

kr 1.6

$ 260,000

[1]	Included in “Accrued expenses and other current liabilities” or “other current assets” in our consolidated balance sheets. The total notional amount of our forward foreign exchange contracts was approximately $331 million and $69 million at December 31, 2013 and 2012, respectively.

Derivative Financial Instruments (Amount of Gains and (Losses) Recognized in Consolidated Statements of Operations Related to Derivative Instruments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Derivative Financial Instruments [Abstract]
Derivatives not designated as hedging instruments, Foreign exchange forward contracts	$ 4,731	$ 176	$ 71
Derivatives not designated as hedging instruments, Interest rate contracts		$ 2,010	$ 6,973

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2013	Dec. 31, 2012
Operating Loss Carryforwards [Line Items]
Foreign tax credit carryforwards	$ 4.4
U.S. [Member]
Operating Loss Carryforwards [Line Items]
State net operating loss carryforwards	$ 101.6
State net operating loss carryforwards future expiration date	2033
Income tax examination, description	We are no longer subject to U.S. federal income tax examination for all years through 2009 and the statute of limitations at our international locations is generally six to seven years.
Non-U.S. [Member]
Operating Loss Carryforwards [Line Items]
State net operating loss carryforwards future expiration date	2022
State net operating loss carryforwards	$ 34.6
State net operating loss carryforwards with no expiration	30.6
State net operating loss carryforwards with expiration	4.0
Temporary differences representing earnings of non-US subsidiaries for which deferred income taxes are not provided	$ 192.9	$ 189.4
Minimum [Member] \| Non-U.S. [Member]
Operating Loss Carryforwards [Line Items]
Income tax examination, statute of limitations	6 years
Maximum [Member] \| Non-U.S. [Member]
Operating Loss Carryforwards [Line Items]
Income tax examination, statute of limitations	7 years

Income Taxes (Components of Income Before Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Taxes [Abstract]
United States	$ 231,434	$ 156,226	$ 50,654
Foreign	5,477	25,470	5,114
Income before income taxes	$ 236,911	$ 181,696	$ 55,768

Income Taxes (Summary of Income Taxes Included in Consolidated Statements of Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Current:
Federal	$ 90,063	$ 65,563	$ 32,080
State	8,058	6,569	2,878
Foreign	6,518	12,038	8,188
Current income tax expense	104,639	84,170	43,146
Deferred:
Federal	(21,102)	(15,776)	(14,960)
State	2,818	(1,256)	(1,177)
Foreign	(1,539)	(3,400)	(225)
Deferred income tax expense (benefit)	(19,823)	(20,432)	(16,362)
Income tax expense	$ 84,816	$ 63,738	$ 26,784

Income Taxes (Reconciliation of Statutory Federal Income Tax Rate) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Taxes [Abstract]
Federal tax expense at statutory rates	$ 82,918	$ 63,474	$ 19,518
State taxes	3,855	3,453	977
Nondeductible expenses	1,152	1,123	1,121
Effect of tax rate changes on existing temporary differences	3,074		3,993
Effect of foreign operations	(9,752)	(3,565)	(499)
Change in valuation allowance	7,714	(78)	522
Other	(4,145)	(669)	1,152
Income tax expense	$ 84,816	$ 63,738	$ 26,784
Effective tax rate	35.80%	35.10%	48.00%

Income Taxes (Components of Deferred Income Taxes) (Details) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
Deferred tax assets:
Allowance for doubtful accounts	$ 1,265	$ 2,046
Accruals and reserves	16,603	12,617
Net operating loss and tax credit carryforwards	13,423	5,453
Other	1,270	1,504
Subtotal	32,561	21,620
Valuation allowance	(14,155)	(2,059)
Total	18,406	19,561
Deferred tax liabilities:
Accounts receivable		(4,550)
Inventory valuation	(81,208)	(79,575)
Property, plant and equipment	(8,538)	(11,210)
Intangible assets	(236,832)	(252,976)
Debt	(5,798)	(5,745)
Other	(177)	(11)
Total	(332,553)	(354,067)
Net deferred tax liability	$ (314,147)	$ (334,506)

Stockholders' Equity (Narrative) (Details) - shares	12 Months Ended
Stockholders' Equity (Narrative) (Details) - shares	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Stockholders' Equity [Line Items]
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Stock Options [Member]
Stockholders' Equity [Line Items]
Anti-dilutive securities	500,000	2,100,000	2,300,000

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Antidilution
-URI http://asc.fasb.org/extlink&oid=6505113

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Diluted Earnings Per Share
-URI http://asc.fasb.org/extlink&oid=6510752

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Contingent Stock Agreement
-URI http://asc.fasb.org/extlink&oid=6508534

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 13, 14
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Stockholders' Equity (Accumulated Other Comprehensive Loss in Accompanying Consolidated Balance Sheets) (Details) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
Stockholders' Equity [Abstract]
Currency translation adjustments	$ (40,173)	$ (21,829)
Pension related adjustments	(249)	(335)
Accumulated other comprehensive loss	$ (40,422)	$ (22,164)

The total of net gain (loss), prior service cost (credit), and transition assets (obligations), as well as minimum pension liability if still remaining, included in accumulated other comprehensive income associated with a defined benefit pension or other postretirement plan(s) because they have yet to be recognized as components of net periodic benefit cost.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 10A
-Subparagraph (j-k)
-URI http://asc.fasb.org/extlink&oid=20435746&loc=SL7669646-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e637-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e681-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
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-Section 50
-Paragraph 1
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Paragraph 14A
-URI http://asc.fasb.org/extlink&oid=20435746&loc=SL7669686-108580

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 158
-Paragraph 7
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph i
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Accumulated adjustment, net of tax, that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency from the functional currency of the reporting entity, net of reclassification of realized foreign currency translation gains or losses.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e681-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph 10A
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=20435746&loc=SL7669646-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=20435746&loc=SL7669686-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
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-URI http://asc.fasb.org/extlink&oid=6915805&loc=d3e32022-110900

Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 52
-Paragraph 12, 13
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 45
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 52
-Paragraph 31
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 17, 18, 19, 22, 23, 24, 25, 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
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-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e637-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e681-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 14A
-URI http://asc.fasb.org/extlink&oid=20435746&loc=SL7669686-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 31
-Article 5

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 15D
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 14, 17, 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

Average basic shares outstanding

Stockholders' Equity (Earnings Per Share) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Stockholders' Equity [Abstract]

Net income

$ 23,300

$ 38,800

$ 43,900

$ 46,200

$ (6,400)

$ 55,500

$ 31,300

$ 37,500

$ 152,095

$ 117,958

$ 28,984

101,712

96,465

84,417

Effect of dilutive securities

810

460

238

Average diluted shares outstanding

102,522

96,925

84,655

Net income per share:

Basic

$ 0.23

^[1]

$ 0.38

^[1]

$ 0.43

^[1]

$ 0.45

^[1]

$ (0.06)

^[1]

$ 0.55

^[1]

$ 0.32

^[1]

$ 0.44

^[1]

$ 1.50

^[1]

$ 1.22

^[1]

$ 0.34

Diluted

$ 0.23

^[1]

$ 0.38

^[1]

$ 0.43

^[1]

$ 0.45

^[1]

$ (0.06)

^[1]

$ 0.54

^[1]

$ 0.32

^[1]

$ 0.44

^[1]

$ 1.48

^[1]

$ 1.22

^[1]

$ 0.34

[1]	Net income and EPS do not add across due to rounding and transactions resulting in differing weighted average shares outstanding on a quarterly basis.

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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.21)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=16381557&loc=d3e4984-109258

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04.23)
-URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 18
-Article 7

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 36, 37, 38
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 20
-Article 5

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 21
-Article 9

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

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.

Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1448-109256

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Weighted-Average Number of Common Shares Outstanding
-URI http://asc.fasb.org/extlink&oid=6528421

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Employee Benefit Plans (Narrative) (Details) $ in Thousands	12 Months Ended			21 Months Ended
Employee Benefit Plans (Narrative) (Details) $ in Thousands	Dec. 31, 2013 USD ($) employee shares	Dec. 31, 2012 USD ($) shares	Dec. 31, 2011 USD ($)	Dec. 31, 2013 USD ($) shares
Defined Benefit Plan Disclosure [Line Items]
Common stock, shares outstanding	101,913,000	101,563,000		101,913,000
Stock based compensation \| $	$ 15,488	$ 8,475	$ 8,385
Defined contribution plans \| $	$ 10,500	9,000	6,500
Defined benefit pension plan, number of current and former employees \| employee	13
Defined benefit pension plan liability \| $	$ 500	700		$ 500
2007 Stock Option Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Shares available for grant	3,750,000			3,750,000
Maximum term for stock option plan grant	10 years
Vesting period	5 years
2007 Restricted Stock Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Shares available for grant	500,000			500,000
Stock options exercised	262,586
Grant of stock options	0
2011 Omnibus Incentive Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Shares reserved for issuance	3,250,000			3,250,000
Shares of restricted stock granted	99,163			1,890,670
Grant of stock options	726,746
November 2013 Secondary Offering [Member]
Defined Benefit Plan Disclosure [Line Items]
Stock options vested	852,939			852,939
Shares of restricted stock vested	134,211
Stock based compensation \| $	$ 5,200
Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Employer matching contribution	1.00%
Minimum [Member] \| 2011 Omnibus Incentive Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Vesting period	4 years
Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Employer matching contribution	10.00%
Maximum [Member] \| 2011 Omnibus Incentive Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Vesting period	5 years
Goldman Sachs Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Common stock, shares outstanding	5,141,547			5,141,547
Stock Options [Member]
Defined Benefit Plan Disclosure [Line Items]
Stock options vested	2,397,955			2,397,955
Stock options exercised	262,586
Stock based compensation \| $	$ 13,329	7,533	6,707
Stock options issued or granted	726,746
Restricted Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Shares of restricted stock vested	135,179
Shares of restricted stock granted	99,163
Stock based compensation \| $	$ 2,159	481	412
Profit Units [Member]
Defined Benefit Plan Disclosure [Line Items]
Stock based compensation \| $		$ 461	$ 1,267
Director [Member]
Defined Benefit Plan Disclosure [Line Items]
Vesting period	1 year

Employee Benefit Plans (Schedule of Stock Option Activity Plans) (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2013 USD ($) $ / shares shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options outstanding, vested and expected to vest, Options \| shares	3,883,434
Options outstanding, vested and expected to vest, Weighted Average Exercise Price \| $ / shares	$ 20.40
Options outstanding, vested and expected to vest, Weighted Average Remaining Contractual Term	6 years 10 months 24 days
Options outstanding, vested and expected to vest, Aggregate Intrinsic Value \| $	$ 45,798
Stock Options [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Beginning Balance, Options \| shares	3,758,758
Granted, Options \| shares	726,746
Exercised, Options \| shares	(262,586)
Forfeited, Options \| shares	(286,257)
Expired, Options \| shares	(2,576)
Ending Balance, Options \| shares	3,934,085
Options outstanding, vested and exercisable, Options \| shares	2,397,955
Beginning Balance, Weighted Average Exercise Price \| $ / shares	$ 18.05
Granted, Weighted Average Exercise Price \| $ / shares	29.53
Exercised, Weighted Average Exercise Price \| $ / shares	12.50
Forfeited, Weighted Average Exercise Price \| $ / shares	22.62
Expired, Weighted Average Exercise Price \| $ / shares	12.52
Ending Balance, Weighted Average Exercise Price \| $ / shares	20.47
Options outstanding, vested and exercisable, Weighted Average Exercise Price \| $ / shares	$ 17.75
Beginning Balance, Weighted Average Remaining Contractual Term	7 years 4 months 24 days
Ending Balance, Weighted Average Remaining Contractual Term	7 years
Options outstanding, vested and exercisable, Weighted Average Remaining Contractual Term	5 years 9 months 18 days
Beginning Balance, Aggregate Intrinsic Value \| $	$ 36,585
Ending Balance, Aggregate Intrinsic Value \| $	46,144
Options outstanding, vested and exercisable, Aggregate Intrinsic Value \| $	$ 34,772

Employee Benefit Plans (Schedule of Restricted Stock Option Activity Plans) (Details) - Restricted Stock [Member]	12 Months Ended
	Dec. 31, 2013 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested, Beginning Balance, Shares \| shares	134,211
Granted, Shares \| shares	99,163
Vested, Shares \| shares	(135,179)
Forfeited, Shares \| shares	(4,712)
Nonvested, Ending Balance, Shares \| shares	93,483
Nonvested, Beginning Balance, Weighted Average Grant-Date Fair Value \| $ / shares	$ 15.65
Granted, Weighted Average Grant-Date Fair Value \| $ / shares	29.52
Vested, Weighted Average Grant-Date Fair Value \| $ / shares	15.76
Forfeited, Weighted Average Grant-Date Fair Value \| $ / shares	29.87
Nonvested, Ending Balance, Weighted Average Grant-Date Fair Value \| $ / shares	$ 29.48

Employee Benefit Plans (Summarized Award Activity Under Stock Option and Restricted Stock Plans) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Stock Options [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted-average, grant-date fair value of awards granted	$ 12.10	$ 6.52	$ 3.46
Total intrinsic value of stock options exercised	$ 4,717,693	$ 1,089,830	$ 1,715
Total fair value of stock options vested	$ 6,352,967	$ 1,370,130	$ 1,833,836
Restricted Stock [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Weighted-average, grant-date fair value of awards granted	$ 29.48	$ 15.65	$ 14.36
Total fair value of restricted stock vested	$ 4,173,834	$ 484,141	$ 378,670

Employee Benefit Plans (Weighted-Average Assumptions Used to Estimate Fair Values of Stock Options) (Details)

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Employee Benefit Plans [Abstract]

Risk-free interest rate

0.86%

0.90%

1.32%

Dividend yield

^[1]

0.00%

Expected volatility

40.96%

41.87%

46.05%

Expected life (in years)

6 years 2 months 12 days

6 years 7 months 6 days

5 years

[1]	The expected dividend yield reflects the restriction on our ability to pay dividends and does not anticipate “special” dividends.

Employee Benefit Plans (Recognized Compensation Expense and Related Income Tax Benefits Under Equity-Based Compensation Plans) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Schedule Of Employee Service Share Based Compensation Expense Allocation [Line Items]
Equity-based compensation expense	$ 15,488	$ 8,475	$ 8,385
Income tax benefits related to equity-based compensation	5,743	3,114	3,081
Stock Options [Member]
Schedule Of Employee Service Share Based Compensation Expense Allocation [Line Items]
Equity-based compensation expense	13,329	7,533	6,707
Restricted Stock [Member]
Schedule Of Employee Service Share Based Compensation Expense Allocation [Line Items]
Equity-based compensation expense	$ 2,159	481	412
Restricted Common Units [Member]
Schedule Of Employee Service Share Based Compensation Expense Allocation [Line Items]
Equity-based compensation expense			(1)
Profit Units [Member]
Schedule Of Employee Service Share Based Compensation Expense Allocation [Line Items]
Equity-based compensation expense		$ 461	$ 1,267

Employee Benefit Plans (Unrecognized Compensation Expense Under Equity-Based Compensation Plans) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2013 USD ($)
Unrecognized Stock Based Compensation Expense [Line Items]
Unrecognized equity-based compensation expense	$ 12,118
Stock Options [Member]
Unrecognized Stock Based Compensation Expense [Line Items]
Unrecognized equity-based compensation , Weighted-Average Vesting Period (in years)	2 years 10 months 24 days
Unrecognized equity-based compensation expense	$ 10,168
Restricted Stock [Member]
Unrecognized Stock Based Compensation Expense [Line Items]
Unrecognized equity-based compensation , Weighted-Average Vesting Period (in years)	3 years 6 months
Unrecognized equity-based compensation expense	$ 1,950

Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Related Party Transaction [Line Items]
Rent expense attributable to related parties	$ 2,000	$ 4,300	$ 5,500
Future minimum rental payments, 2014	41,328
Future minimum rental payments, 2015	33,268
Future minimum rental payments, 2016	24,208
Future minimum rental payments, 2017	18,448
Future minimum rental payments, 2018 and thereafter	16,686
Europump Systems Inc. [Member]
Related Party Transaction [Line Items]
Purchases from affiliates	42,300	39,300	42,000
Amounts payable to affiliates	0	4,900
Sales to affiliates	2,100	1,200	2,500
Receivables from affiliates	800	200
Profit sharing expense to affiliates	6,200	7,900	5,800
Related Parties [Member]
Related Party Transaction [Line Items]
Future minimum rental payments, 2014	2,000
Future minimum rental payments, 2015	1,400
Future minimum rental payments, 2016	1,500
Future minimum rental payments, 2017	1,400
Future minimum rental payments, 2018 and thereafter	1,400
Cypress Energy Partners LP [Member]
Related Party Transaction [Line Items]
Sales to affiliates	400
Goldman Sachs Funds [Member]
Related Party Transaction [Line Items]
Sales to affiliates	33,700	23,100	12,000
Receivables from affiliates	7,000	5,000
Payments made to affiliates	10,900	13,200	$ 300
Payment made for treasury, accounts receivables collection software and disaster recovery systems	$ 600	$ 900

Segment, Geographic and Product Line Information (Narrative) (Details)	12 Months Ended
	Dec. 31, 2013 segment
Segment, Geographic and Product Line Information [Abstract]
Business segments	3

Segment, Geographic and Product Line Information (Schedule of Financial Information for Each Segment) (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

^[1]

Sales

$ 1,344,200

$ 1,313,700

$ 1,267,800

$ 1,305,100

$ 1,306,700

$ 1,451,100

$ 1,430,400

$ 1,382,600

$ 5,230,792

$ 5,570,858

$ 4,832,423

22,300

18,600

17,000

52,072

49,466

50,652

Loss on early extinguishment of debt

311,765

406,990

194,589

Interest expense

(60,685)

(112,519)

(136,844)

113,961

Other (income) expense

14,200

(1,200)

2,000

Income before income taxes

236,911

181,696

55,768

Goodwill

Total goodwill

632,284

610,392

^[1]

632,284

610,392

^[1]

561,270

^[1]

$ 549,384

3,335,682

3,369,727

3,335,682

3,369,727

United States [Member]

Sales

3,967,600

4,238,400

3,849,200

13,600

11,200

11,600

42,400

40,000

40,100

280,100

358,300

166,500

2,732,300

2,732,400

2,732,300

2,732,400

Canada [Member]

Sales

709,400

765,200

653,600

2,000

2,100

2,500

2,400

2,500

4,500

20,900

27,200

17,400

Goodwill

Total goodwill

^[1]

204,700

249,100

204,700

249,100

International [Member]

Sales

553,800

567,200

329,600

6,700

5,300

2,900

7,300

7,000

6,100

10,800

21,500

10,700

Goodwill

Total goodwill

80,307

73,294

^[1]

80,307

73,294

^[1]

$ 49,223

^[1]

$ 39,906

Quarterly Information (Unaudited) [Abstract]

$ 398,700

$ 388,200

$ 398,700

$ 388,200

[1]	Net of accumulated impairment losses of $240.9 million and $69.0 million in the U.S and Canadian segments, respectively.

Segment, Geographic and Product Line Information (Schedule of Percentage of Net Revenues by Geographical Areas) (Details)	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Information [Line Items]
Total fixed assets, percentage	100.00%	100.00%
United States [Member]
Segment Reporting Information [Line Items]
Total fixed assets, percentage	57.00%	56.00%
Canada [Member]
Segment Reporting Information [Line Items]
Total fixed assets, percentage	24.00%	24.00%
International [Member]
Segment Reporting Information [Line Items]
Total fixed assets, percentage	19.00%	20.00%

Segment, Geographic and Product Line Information (Schedule of Net Sales by Product Line) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Energy Carbon Steel Tubular Products [Member]
Segment Reporting Information [Line Items]
Net sales	$ 1,525,537	$ 1,873,620	$ 1,843,139
Percentage of net sales	29.00%	34.00%	38.00%
Energy Carbon Steel Tubular Products [Member] \| Line Pipe [Member]
Segment Reporting Information [Line Items]
Net sales	$ 1,061,881	$ 1,158,512	$ 1,033,976
Percentage of net sales	20.00%	21.00%	21.00%
Energy Carbon Steel Tubular Products [Member] \| Oil Country Tubular Goods (OCTG) [Member]
Segment Reporting Information [Line Items]
Net sales	$ 463,656	$ 715,108	$ 809,163
Percentage of net sales	9.00%	13.00%	17.00%
Valves, Fittings, Flanges and all Other Products [Member]
Segment Reporting Information [Line Items]
Net sales	$ 3,705,255	$ 3,697,238	$ 2,989,284
Percentage of net sales	71.00%	66.00%	62.00%
Valves, Fittings, Flanges and all Other Products [Member] \| Valves and Specialty Products [Member]
Segment Reporting Information [Line Items]
Net sales	$ 1,440,431	$ 1,431,888	$ 1,143,234
Percentage of net sales	28.00%	26.00%	24.00%
Valves, Fittings, Flanges and all Other Products [Member] \| Carbon Steel Fittings and Flanges and Stainless Steel and Alloy Pipe and Fittings [Member]
Segment Reporting Information [Line Items]
Net sales	$ 1,135,818	$ 1,175,276	$ 870,581
Percentage of net sales	22.00%	21.00%	18.00%
Valves, Fittings, Flanges and all Other Products [Member] \| Other [Member]
Segment Reporting Information [Line Items]
Net sales	$ 1,129,006	$ 1,090,074	$ 975,469
Percentage of net sales	21.00%	19.00%	20.00%

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2013	Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets:	$ 4,603	$ 3
Liabilities:
Carrying value of debt	987,000	1,257,000
Fair value of our debt	997,000	1,261,000
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets:
Liabilities:
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets:	4,603	3
Liabilities:
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets:
Liabilities:

Commitments and Contingencies (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2013 USD ($) claim lawsuit	Dec. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)
Loss Contingencies [Line Items]
Operating rental expense	$ 53.3	$ 48.3	$ 40.3
Letters of credit outstanding	33.2
Bank guarantees outstanding	$ 6.7
Asbestos [Member]
Loss Contingencies [Line Items]
Number of lawsuits \| lawsuit	279
Asbestos related pending claims \| claim	930
Period that projected payments of asbestos claims are projected	15 years

Commitments and Contingencies (Future Minimum Lease Payment Under Noncancelable Operating and Capital Lease Arrangements) (Details) $ in Thousands	Dec. 31, 2013 USD ($)
Commitments and Contingencies [Abstract]
2014	$ 41,328
2015	33,268
2016	24,208
2017	18,448
2018	14,244
Thereafter	16,686
Total	148,182
2014	628
2015	297
2016	158
2017	117
2018	131
Thereafter	568
Total	$ 1,899

Quarterly Information (Unaudited) (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Revenues

$ 1,344,200

$ 1,313,700

$ 1,267,800

$ 1,305,100

$ 1,306,700

$ 1,451,100

$ 1,430,400

$ 1,382,600

$ 5,230,792

$ 5,570,858

$ 4,832,423

Gross profit

226,000

238,300

243,900

246,600

258,300

277,200

241,700

236,600

954,759

1,013,743

708,152

Net income (loss)

$ 23,300

$ 38,800

$ 43,900

$ 46,200

$ (6,400)

$ 55,500

$ 31,300

$ 37,500

$ 152,095

$ 117,958

$ 28,984

Basic

$ 0.23

^[1]

$ 0.38

^[1]

$ 0.43

^[1]

$ 0.45

^[1]

$ (0.06)

^[1]

$ 0.55

^[1]

$ 0.32

^[1]

$ 0.44

^[1]

$ 1.50

^[1]

$ 1.22

^[1]

$ 0.34

Diluted

$ 0.23

^[1]

$ 0.38

^[1]

$ 0.43

^[1]

$ 0.45

^[1]

$ (0.06)

^[1]

$ 0.54

^[1]

$ 0.32

^[1]

$ 0.44

^[1]

$ 1.48

^[1]

$ 1.22

^[1]

$ 0.34

[1]	Net income and EPS do not add across due to rounding and transactions resulting in differing weighted average shares outstanding on a quarterly basis.

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

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.