XML 25 R14.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2019
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Property, Plant and Equipment

The following is a summary of property, plant and equipment at December 31, 2019 and 2018 (in thousands):
 
 
 
December 31,
 
Estimated Useful Lives in Years
 
2019
 
2018
 
 
 
 
 
 
Land
—
 
$
30,724

 
$
32,945

Land improvements
8-15
 
7,193

 
8,316

Buildings and improvements
13-39
 
116,182

 
125,088

Rental machinery and equipment
7
 
882,979

 
887,064

Machinery and equipment - other
7
 
60,182

 
61,796

Furniture, fixtures and computers
5
 
17,251

 
24,745

Automobiles and other vehicles
5
 
28,734

 
29,696

Leasehold improvements
7-15, or lease term if shorter
 
14,258

 
15,392

Construction in progress - machinery and equipment and buildings
—
 
46,564

 
65,152

 
 
 
1,204,067

 
1,250,194

Less: Accumulated depreciation
 
 
(875,635
)
 
(833,704
)
Total property, plant and equipment, net
 
 
$
328,432

 
$
416,490


During the second quarter of 2018, assets with a net book value of $4.5 million met the criteria to be classified as held for sale and were reclassified from property, plant and equipment to assets held for sale on our consolidated balance sheet. During the third quarter of 2018, a building with a net book value of $5.0 million met the criteria to be classified as held for sale and was reclassified from property, plant and equipment to assets held for sale on our consolidated balance sheet.

During the first quarter of 2019, buildings with a net book value of $1.1 million met the criteria to be classified as held for sale and were reclassified from property, plant and equipment to assets held for sale on our consolidated balance sheet. During the third quarter of 2019, an additional building met the criteria to be classified as held for sale and a $4.0 million impairment loss was recorded, which is included in severance and other charges (credits), net on our consolidated statements of operations. The building's remaining net book value of $5.3 million was reclassified from property, plant and equipment to assets held for sale on our consolidated balance sheets. During the fourth quarter of 2019, equipment in our Tubular Running Services segment met the criteria to be classified as held for sale and a $0.3 million impairment loss was recorded, which is included in severance and other charges (credits), net on our consolidated statements of operations. The equipment’s remaining net book value of $0.2 million was reclassified from property, plant and equipment to assets held for sale on our consolidated balance sheets.

During the year ended December 31, 2019, we recorded fixed asset impairment charges of $32.9 million primarily associated with construction in progress in our Tubular Running Services segment, which is included in severance and other charges (credits), net on our consolidated statements of operations. No impairments were recognized during the year ended December 31, 2018. During the year ended December 31, 2017, we recognized a $6.5 million charge for fixed asset retirements, which is included in severance and other charges (credits), net on our consolidated statements of operations. Please see Note 18—Severance and Other Charges (Credits), net in these Notes to Consolidated Financial Statements for additional details.
The following table presents the depreciation and amortization associated with each line for the years ended December 31, 2019, 2018 and 2017 (in thousands):
 
December 31,
 
2019
 
2018
 
2017
Cost of revenue
 
 
 
 
 
 
Services
 
$
80,072

 
$
93,280

 
$
102,212

Products
 
1,511

 
4,354

 
4,971

General and administrative expenses
 
11,217

 
13,658

 
14,919

Total
 
$
92,800

 
$
111,292

 
$
122,102