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Impairment of Inventory and Rental Equipment | 9 Months Ended
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Sep. 30, 2015
Asset Impairment Charges [Abstract] |
Impairment of Inventory and Rental Equipment | Impairment of Inventory and Rental Equipment During the three months ended June 30, 2015, as a result of decreased rig activity and its impact on management’s expectations for future market activity, the Company refocused the Drilling Technologies segment to businesses and markets that have the best opportunity for profitable growth in the future. In addition, the Company has shifted the focus of the Production Technologies segment to oil production markets and away from coal bed methane markets. As a result of these changes in focus and projected declines in asset utilization, the Company recorded a pre-tax impairment charge during the three months ended June 30, 2015, as follows (in thousands):
Drilling Technologies: |
Inventories | $ | 17,241 |
Rental equipment | 2,327 |
Production Technologies: |
Inventories | 804 |
Total impairment | $ | 20,372 |

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- Definition The entire disclosure for the details of the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Disclosure may also include a description of the impaired asset and facts and circumstances leading to the impairment, amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired asset is reported. + References No definition available. + Details
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