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ASSET IMPAIRMENTS | 9 Months Ended
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Sep. 30, 2019
Asset Impairment Charges [Abstract] |
ASSET IMPAIRMENTS |
(14) | ASSET IMPAIRMENTS
The below table summarizes impairments during the three and nine months ended September 30, 2019 and 2018, along with the amount of impairment.
|  | Three Months Ended |  |  | Nine Months Ended |
(Dollars in thousands) |  | September 30, 2019 |  |  | September 30, 2018 |  |  | September 30, 2019 |  |  | September 30, 2018 |
Number of vessels impaired in the period |  |  | — |  |  |  | 15 |  |  |  | — |  |  |  | 30 |
Amount of impairment incurred |  | $ | 5,224 |  |  |  | 16,853 |  |  | $ | 5,224 |  |  |  | 24,254 |
As of September 30, 2019, we performed an evaluation to determine whether conditions existed that would indicate potential impairment in the value of our assets. Our evaluation did not indicate any indicators of impairment that would require us to perform additional analyses and, consequently, we have recorded no vessel impairment charges in the three and nine months ended September 30, 2019. We did evaluate our inventory as of September 30, 2019 and charged $5.2 million to impairment expense for obsolete marine service and vessel supplies and parts inventory. We considered this valuation approach to be a Level 3 fair value measurement due to the level of estimation involved in valuing obsolete inventory.

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- Definition The entire disclosure for the details of the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Disclosure may also include a description of the impaired asset and facts and circumstances leading to the impairment, amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired asset is reported. + References No definition available. + Details
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