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Restructuring Charges | 12 Months Ended
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Dec. 31, 2020
Restructuring and Related Activities [Abstract] |
Restructuring Charges | Note W – Restructuring Charges On May 6, 2020, the Company announced that it was closing its headquarters office in El Dorado, Arkansas, its office in Calgary, Alberta, and consolidating all worldwide staff activities to its existing office location in Houston, Texas. As a result of this decision, certain directly attributable costs and charges have been recognized and reported as Restructuring charges as part of net loss during the year ended December 31, 2020 . These costs include severance, relocation, IT costs, pension curtailment charges and a write-off of the right of use asset lease associated with the Canada office. Further, the office building in El Dorado is classified as held for sale as of December 31, 2020. Restructuring charges are primarily reported in the Corporate segment. The following table presents a summary of the restructuring charges included in Operating (loss) income from continuing operations for the year ended December 31, 2020:
(Thousands of dollars) |  | Year Ended December 31, 2020
Severance |  | $ | 25,088 |
Contract exit costs and other |  | 13,993 |
Pension and termination benefit charges |  | 10,913 |
Restructuring charges |  | $ | 49,994 |
The following table represents a reconciliation of the liability associated with the Company’s restructuring activities at December 31, 2020, which is reflected in Other accrued liabilities on the Consolidated Balance Sheet:
(Thousands of dollars) |
Restructuring accruals | $ | 32,430 |
Utilizations | (25,500) |
Liability at December 31, 2020 | $ | 6,930 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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