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Impairment, Restructuring and Other Exit Costs | 12 Months Ended
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Dec. 31, 2021
Restructuring and Related Activities [Abstract] |
Impairment, Restructuring and Other Exit Costs | Impairment, Restructuring and Other Exit Costs Impairment Impairment expense, included in Cont Ops, for 2021, 2020 and 2019 is summarized as follows:
| Year Ended December 31,
(in thousands) | 2021 |  | 2020 |  | 2019
Impairment expense: |  |  |  |  |
Energy Solutions' equity method investments | $ | 27,934 |  |  | $ | 86,096 |  |  | $ | 256,769 |
Information technology assets | 15,858 |  |  | 16,269 |  |  | — |
Total impairment expense | $ | 43,792 |  |  | $ | 102,365 |  |  | $ | 256,769 |
Our business has been adversely affected by the impacts of COVID and the steep decline in oil prices that occurred in early 2020. These events created significant uncertainty and economic volatility and disruption, which have impacted and may continue to impact our business. We experienced reductions in demand for certain services and the delay or abandonment of ongoing or anticipated projects due to our clients’, suppliers’ and other third parties’ diminished financial condition. Although oil prices have rebounded in 2021 and 2022, we have not yet seen our energy clients respond with elevated capital expenditures for our services. During 2021, 2020 and 2019, we evaluated our significant investments and determined that certain of our investments were impaired. The fair value of these investments were determined using unobservable Level 3 inputs based on the forecast of anticipated volumes and overhead absorption in a cyclical business. Restructuring and Other Exit Costs During 2019, we initiated a restructuring plan designed to optimize costs and improve operational efficiency. These efforts primarily related to the rationalization of resources, investments, real estate and overhead across various geographies. The recognition of costs for the planned restructuring activities was substantially completed by the end of 2020. We did not recognize any material restructuring costs during 2021. Information about our completed restructuring follows:
(in thousands) | Costs Incurred in 2020 |  | Costs Incurred in 2019
Restructuring and other exit costs: |  |  |
Severance | $ | 5,256 |  |  | $ | 30,530 |
Asset impairments | — |  |  | 29,485 |
Other exit costs | 736 |  |  | 1,658 |
Total restructuring and other exit costs | $ | 5,992 |  |  | $ | 61,673 |
Asset impairment charges in 2019 included the write down of held-for-sale and held-for-use assets to fair value. The fair value was estimated using observable Level 2 inputs for identical assets. A reconciliation of restructuring liabilities follow:
(in thousands) | Severance | Other Exit Costs | Total
Balance as of December 31, 2019 | $ | 30,479 |  | $ | 564 |  | $ | 31,043 |
Restructuring charges accrued during the period | 5,256 |  | 736 |  | 5,992 |
Cash payments / settlements during the period | (18,858) |  | (793) |  | (19,651) |
Currency translation | (396) |  | (401) |  | (797) |
Balance as of December 31, 2020 | $ | 16,481 |  | $ | 106 |  | $ | 16,587 |
Cash payments / settlements during the period | $ | (16,378) |  | $ | (106) |  | $ | (16,484) |
Currency translation | (103) |  | — |  | (103) |
Balance as of December 31, 2021 | $ | — |  | $ | — |  | $ | — |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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