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Impairments and Other Charges | 12 Months Ended
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Dec. 31, 2023
Impairments and Other Charges |
Impairments and Other Charges | Note 3 Impairments and Other Charges ​ The components of impairments and other charges are provided below: ​
​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Year Ended December 31,
​ |  |  | 2021
​ | ​ | ​ | (in thousands)
Canada Drilling | ​ | ​ | $ | 58,545
International Drilling | ​ | ​ | ​ | 215
Rig Technologies | ​ | ​ | ​ | 418
Severance and transaction related costs | ​ | ​ | ​ | 6,228
Other assets | ​ | ​ | ​ | 1,325
Total | ​ | ​ | $ | 66,731
​ We review our assets for impairment when events or changes in circumstances indicate that their carrying amounts may not be recoverable. If the estimated undiscounted future cash flows are not sufficient to support an asset’s recorded value, an impairment charge is recognized to the extent the carrying amount of the long-lived asset exceeds its estimated fair value. In determining an asset’s fair value, management considers a number of factors, such as estimated future cash flows from the asset, appraisals, and current market value analysis. The determination of future cash flows requires the estimation of utilization, dayrates, operating margins, sustaining capital and remaining economic life. Such estimates can change based on market conditions, technological advances in the industry or changes in regulations governing the industry. A significantly prolonged period of lower oil and natural gas prices could continue to adversely affect the demand for and prices of our services, which could result in future impairment charges. ​ For the year ended December 31, 2021 ​ Canada Drilling ​ During 2021, we recognized an impairment of $58.5 million related to the sale of the Canada Drilling assets in July 2021. See Note 5—Acquisitions and Dispositions for additional details. ​ Severance and transaction related costs ​ During 2021, we recognized charges of $6.2 million due to severance and reorganization costs from ongoing cost cutting and consolidation measures that we enacted in response to the challenging industry environment.

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