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Goodwill | 12 Months Ended
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Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill | 7. Goodwill Goodwill is identified by segment as follows (in millions):
|  | United States |  |  | Canada |  |  | International |  |  | Total |
Balance at December 31, 2018 (1) |  | $ | 119 |  |  | $ | 90 |  |  | $ | 105 |  |  | $ | 314 |
Additions |  |  | 6 |  |  |  | — |  |  |  | — |  |  |  | 6 |
Impairment |  |  | — |  |  |  | (27 | ) |  |  | (54 | ) |  |  | (81 | )
Foreign currency translation adjustments |  |  | — |  |  |  | 4 |  |  |  | 2 |  |  |  | 6 |
Balance at December 31, 2019 |  | $ | 125 |  |  | $ | 67 |  |  | $ | 53 |  |  | $ | 245 |
Impairment |  |  | (125 | ) |  |  | (60 | ) |  |  | (45 | ) |  |  | (230 | )
Foreign currency translation adjustments |  |  | — |  |  |  | (7 | ) |  |  | (8 | ) |  |  | (15 | )
Balance at December 31, 2020 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
| (1) | The United States segment is net of prior years accumulated impairment of $393 million.
During the first quarter of 2020, the Company’s market capitalization declined significantly driven by macroeconomic and geopolitical conditions including the collapse of oil prices caused by both surplus production and supply as well as the decrease in demand caused by the COVID-19 pandemic. In addition, the uncertainty related to oil demand continues to have a significant impact on the investment and operating plans of our primary customers. Based on these events, the Company concluded that it was more likely than not that the fair values of certain of its reporting units were less than their carrying values. Therefore, the Company performed an interim goodwill impairment test. As a result, for the quarter ended March 31, 2020 and the year ended December 31, 2020, the Company recognized $230 million goodwill impairment for both periods which was included in impairment charges in the consolidated statements of operations. The Company had no goodwill as of December 31, 2020. The Company performed its annual goodwill impairment test during the fourth quarter of 2019 and determined the fair value of the Canada and International reporting units was below their carrying value. As a result, the Company recognized $81 million of goodwill impairment which was included in impairment charges in the consolidated statements of operations. The impairment charges were primarily the result of actual declines in customer and rig activity and downward revisions to forecasted rig and customer spend activity occurring in the fourth quarter of 2019, which we incorporated into our outlook and forecasted results of operations. No tax benefit was reported on the Company’s goodwill impairment for the years ended December 31, 2020 and 2019, as the goodwill impairment was either nondeductible for tax purposes or was subject to a valuation allowance. For the year ended December 31, 2018 no goodwill impairments were recognized as the fair value of each reporting unit exceeded its carrying value.

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- Definition The entire disclosure for goodwill. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2144439 + Details
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