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ABANDONMENTS AND OTHER COSTS

12 Months Ended

Dec. 31, 2024

ABANDONMENTS AND OTHER COSTS

ABANDONMENTS AND OTHER COSTS

NOTE 4—ABANDONMENTS AND OTHER COSTS

​

A summary of impairments to and abandonment of property and equipment for the years ended December 31, 2024, 2023 and 2022 is as follows:

​

​	​	​	​	​	​	​	​	​	​
​	​	Year ended December 31,
​		2024		​	2023			2022
​	​	(in thousands)
​	​	​	​	​	​	​	​	​	​
Abandonment of property and equipment	​	​	​	​	​	​	​	​	​
Water Infrastructure	​	$	860	​	$	432	​	$	—
Water Services	​	​	331	​	​	1,070	​	​	—
Other	​	​	46	​	​	—	​	​	—
Total abandonment of property and equipment	​	$	1,237	​	$	1,502	​	$	—

​

The $1.2 million and $1.5 million expense for abandonment of property and equipment during the years ended December 31, 2024 and December 31, 2023, respectively primarily resulted from the write-off assets that are no longer utilized in operational activities.

​

A summary of severance and lease abandonment costs for the years ended December 31, 2024, 2023 and 2022 is as follows:

​

​	​	​	​	​	​	​	​	​	​
​	​	Year ended December 31,
​		2024		​	2023			2022
​	​	(in thousands)
​	​	​	​	​	​	​	​	​	​
Severance	​	​	​	​	​	​	​	​	​
Selling, general and administrative	​	$	648	​	$	—	​	$	—
Total severance expense	​	$	648	​	$	—	​	$	—
​	​	​	​	​	​	​	​	​	​
Lease abandonment costs	​	​	​	​	​	​	​	​	​
Water Infrastructure	​	$	350	​	$	7	​	$	(42)
Water Services	​	​	8	​	​	34	​	​	414
Chemical Technologies	​	​	—	​	​	1	​	​	60
Other	​	​	—	​	​	—	​	​	17
Total lease abandonment costs	​	$	358	​	$	42	​	$	449

​

See “Note 2—Significant Accounting Policies” for further detail on the 2024 severance.

​

On February 21, 2023, the Company announced a rebranding initiative that occurred during the first half of 2023. As a result of this initiative, our existing trademarks are no longer considered indefinite-lived and will be measured for abandonment whenever events or changes in circumstances indicate that its carrying value may not be recoverable. The rebranding announcement qualified as a triggering event, and the Company tested the existing trademarks for abandonment. This evaluation included significant judgment, including discount rates based on our weighted-average cost of capital and the royalty rate. This resulted in $11.1 million of abandonment expense to trademarks using the relief-from-royalty method, which was recorded in the Chemical Technologies segment within impairments and abandonments on the accompanying consolidated statements of operations.

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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.

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