Asset Impairments and Other Restructuring Items (Tables)

12 Months Ended

Dec. 31, 2021

Restructuring and Related Activities [Abstract]

During 2019, the Company recorded the following charges (in thousands):


	Offshore/ Manufactured Products		Downhole Technologies		Well Site Services		Corporate		Pre-tax Total		Tax		After-tax Total
Impairments of:
Goodwill (Note 5)	$	—	$	165,000	$	—	$	—	$	165,000	$	—	$	165,000
Fixed assets (Note 4)	—		—		33,697		—		33,697		7,076		26,621
Severance and restructuring costs	1,655		—		1,847		—		3,502		735		2,767

As a result of these events, actions and assessments, the Company recorded the following charges during 2020 (in thousands):


	Offshore/ Manufactured Products		Downhole Technologies		Well Site Services		Corporate		Pre-tax Total		Tax		After-tax Total
Impairments of:
Goodwill (Note 5)	$	86,500	$	192,502	$	127,054	$	—	$	406,056	$	19,600	$	386,456
Fixed assets (Note 4)	—		1,623		8,845		—		10,468		2,198		8,270
Operating lease assets (Note 7)	—		1,979		—		—		1,979		416		1,563
Inventories (Note 4)	16,249		5,921		8,981		—		31,151		5,979		25,172
Severance and restructuring costs	1,355		2,018		4,311		1,385		9,069		1,904		7,165

During 2021, the Company continued its restructuring efforts, closed additional facilities in the United States, liquidated an international operation and continued to assess the carrying value of its assets based on management actions and the industry outlook regarding demand for and pricing of its products and services, and recorded the following charges (in thousands):


	Offshore/ Manufactured Products		Downhole Technologies		Well Site Services		Corporate		Pre-tax Total		Tax		After-tax Total
Impairments of:
Fixed assets (Note 4)	$	—	$	—	$	1,372	$	—	$	1,372	$	289	$	1,083
Operating lease assets (Note 7)	—		—		2,794		—		2,794		587		2,207
Inventories (Note 4)	—		2,113		1,468		—		3,581		752		2,829
Severance and restructuring costs(1)	868		809		4,266		1,555		7,498		1,573		5,925
Release of foreign currency translation adjustments on liquidation of an international operation (Note 8)	—		—		—		9,320		9,320		—		9,320

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(1)Includes recognition of $1.9 million in additional lease-related liabilities associated with the exit of a long-term lease supporting the Well Site Services segment.