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Impairment of Property and Equipment, Operating Lease Right-of-use Assets and Intangible Assets | 12 Months Ended
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Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Impairment of Property and Equipment, Operating Lease Right-of-use Assets and Intangible Assets | Impairment of Property and Equipment, Operating Lease Right-of-use Assets and Intangible Assets There were no impairments of property and equipment, operating lease right-of-use assets, and intangible assets during the year ended December 31, 2021. The Company recorded impairment charges of property and equipment, operating lease right-of-use assets and intangible assets during the year ended December 31, 2020, as follows (in thousands):
Property and equipment | $ | 30,178 |  |  |
Operating lease right-of-use assets | 7,434 |  |  |
Other Intangible Assets: |  |  |
Patents and technology | 14,733 |  |  |
Customer relationships | 15,796 |  |  |
Intangible assets in progress | 596 |  |  |
Trademarks and brand names | 1,238 |  |  |
Total other intangible assets | 32,363 |  |  |
Total impairment charges | $ | 69,975 |  |  |
During the first quarter of 2020, with the onset of the global COVID-19 Pandemic and the significant disruption across the industry, the Company’s operations were negatively impacted resulting in actual and projected declines in the Company’s revenues and results of operations. These declines were driven by market factors, including an oversupply of oil, insufficient storage and demand destruction resulting from the reaction to the pandemic. Based on these factors, the Company concluded that a triggering event occurred and, accordingly, an interim impairment test was performed as of March 31, 2020, for the CT segment. Using the income approach, the fair value of the CT segment asset group was determined based on the present value of future cash flows. The Company utilized internal forecast trends and potential growth rates to estimate future cash flows of the asset group. Based on the results of the quantitative assessment, the Company concluded the carrying value of the asset group exceeded its fair value as of March 31, 2020, and an impairment loss of $57.5 million was recorded. Management performed an interim impairment test as of September 30, 2020 for the DA business segment which was negatively impacted by reduced demand in the oil and gas sector because of reductions in capital spending across our customer base, lower than anticipated growth in the international market gained from the JP3 acquisition. Using the income approach, the fair value of the DA segment asset group was determined based on the present value of future cash flows. The Company utilized internal forecast trends and potential growth rates to estimate future cash flows of the asset group. Based on the results of the assessment, the Company concluded the carrying value of the asset group exceeded its fair value as of September 30, 2020. The Company recognized an impairment loss of $12.5 million in the DA segment asset group. During the year ended December 31, 2020, all finite lived intangible assets were fully impaired.

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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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