XML 30 R14.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Goodwill | 12 Months Ended
--- | ---
Dec. 31, 2021
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, 2019 (1) |  | $ | 125 |  |  | $ | 67 |  |  | $ | 53 |  |  | $ | 245 |
Impairment |  |  | (125 | ) |  |  | (60 | ) |  |  | (45 | ) |  |  | (230 | )
Foreign currency translation adjustments |  |  | — |  |  |  | (7 | ) |  |  | (8 | ) |  |  | (15 | )
Balance at December 31, 2020 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Additions |  |  | 67 |  |  |  | — |  |  |  | — |  |  |  | 67 |
Impairment |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Foreign currency translation adjustments |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Balance at December 31, 2021 |  | $ | 67 |  |  | $ | — |  |  | $ | — |  |  | $ | 67 |
(1) Net of prior years accumulated impairment of $393 million, $27 million and $54 million in the U.S., Canada and International segments, respectively. As of December 31, 2021, the Company had $67 million goodwill in its U.S. Process Solutions reporting unit and no goodwill in other reporting units. The Company performed its annual goodwill impairment test during the fourth quarter of 2021 resulting in no impairment. The calculated fair value of the U.S. Process Solutions reporting unit significantly exceeded its carrying value. 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. 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 and other 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 and other charges in the consolidated statements of operations. The impairment was 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. 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.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_GoodwillDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration