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Impairment and Other Charges | 12 Months Ended
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Dec. 31, 2019
Impairment and Other Charges. |
Impairment and Other Charges | Note 3: Impairment and Other Charges In response to the decline in customer activities and expectation for it to continue in the near term, the Company recorded the following estimated pre-tax charges during 2019. These charges are reflected in impairment and other charges in the consolidated statements of operations. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, |  | 2019 |  | 2018
(in thousands) |  | ​ |  |  | ​ |
Abandonment of assets (1) | ​ | $ | 35,861 | ​ | $ | —
Assets held for sale write down(2) | ​ |  | 14,326 | ​ |  | —
Retirement of equipment (3) | ​ |  | 17,218 | ​ |  | —
Inventory write-downs | ​ |  | 9,077 | ​ |  | —
Severance costs | ​ |  | 5,748 | ​ |  | —
Other | ​ |  | 43 | ​ |  | —
Total | ​ | $ | 82,273 | ​ | $ | —
​
| (1) | Includes accelerated depreciation for assets that were ceased to be used during 2019 and were abandoned before the end of their previously estimated useful lives. These assets have been recorded at salvage value. Also includes Right-Of-Use (ROU) assets related to leased real estate locations that were abandoned; see Note 15 for additional information on leased assets.
| (2) | Represents real estate properties that are expected to be sold within the next 12 months. In connection with the plan of sale, the Company determined that the carrying values of some of the underlying assets exceeded their fair values. The impairment loss of $14,326,000 represents the estimated excess of the carrying values of the assets over their fair values, less cost to sell. The carrying value of the assets that are held for sale is separately presented in the Consolidated Balance Sheets in the caption "Assets held for sale," and these assets are no longer being depreciated.
| (3) | Represents accelerated depreciation of older pressure pumping equipment being retired because it no longer effectively meets the industry’s current market requirements, requires costly maintenance, and is not expected to generate adequate returns in the future, and the related cost of disposal.
The estimated charges listed above are subject to change in the near term as the transactions are settled including asset disposals and payment of severence as the Company continues to position itself to compete in this difficult market environment. See Note 14 for details of impairment and other charges by segment.

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