Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

As discussed above, we performed interim impairment testing of our goodwill and intangible assets in the first quarter of 2020 due to the impacts of COVID-19 and the decline in oil prices. We recognized impairment expense of $169 million on goodwill associated with Diversified Services and $27 million on intangible customer relationships associated with Stork. No additional impairment on goodwill or intangible assets was recognized during the remainder of 2020. During 2019, we recognized impairment expense of $34 million on intangible customer relationships associated with Stork.

The following table provides a summary of each major intangible asset class:


	December 31, 2020						December 31, 2019						Weighted Average Life
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value
Customer relationships (finite-lived)	$	—	$	—	$	—	$	31,894	$	(451)	$	31,443	8
Trade names (finite-lived)	9,169		(4,844)		4,325		8,388		(3,460)		4,928		13
Trade names (indefinite-lived)	53,411		—		53,411		49,789		—		49,789		—
In-process research and development (indefinite-lived)	16,900		—		16,900		16,900		—		16,900		—
Other (finite-lived)	10,742		(7,805)		2,937		10,399		(6,919)		3,480		10
Total intangible assets(1)	$	90,222	$	(12,649)	$	77,573	$	117,370	$	(10,830)	$	106,540

(1) The aggregate amortization expense for intangible assets with finite lives is expected to be $2 million during 2021 and $1 million during 2022, 2023, 2024 and 2025.