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Details of Selected Balance Sheet Accounts | 9 Months Ended
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Sep. 30, 2022
Details of Selected Balance Sheet Accounts [Abstract] |
Details of Selected Balance Sheet Accounts | Details of Selected Balance Sheet Accounts Additional information regarding selected balance sheet accounts as of September 30, 2022 and December 31, 2021 is presented below (in thousands):
| September 30, 2022 |  | December 31, 2021
Accounts receivable, net: |  |  |
Trade | $ | 145,949 |  |  | $ | 116,434 |
Unbilled revenue | 23,412 |  |  | 24,389 |
Contract assets | 36,752 |  |  | 39,755 |
Other | 7,564 |  |  | 9,973 |
Total accounts receivable | 213,677 |  |  | 190,551 |
Allowance for doubtful accounts | (4,399) |  |  | (4,471) |
| $ | 209,278 |  |  | $ | 186,080 |
Allowance for doubtful accounts as a percentage of total accounts receivable | 2 | % |  | 2 | %
| September 30, 2022 |  | December 31, 2021
Deferred revenue (contract liabilities) | $ | 50,732 |  |  | $ | 43,236 |
As of September 30, 2022, accounts receivable, net in the United States and the United Kingdom represented 75% and 12%, respectively, of the total. No other country or single customer accounted for more than 10% of the Company's total accounts receivable as of September 30, 2022. For the nine months ended September 30, 2022, the $3.0 million net decrease in contract assets was attributable to $30.4 million transferred to accounts receivable, which was partially offset by $27.6 million in revenue recognized during the period. Deferred revenue (contract liabilities) increased by $7.5 million in the first nine months of 2022, reflecting $22.7 million in new customer billings which were not recognized as revenue during the period, partially offset by the recognition of $14.8 million of revenue that was deferred at the beginning of the period. The following provides a summary of activity in the allowance for doubtful accounts for the nine months ended September 30, 2022 and 2021 (in thousands):
| Nine Months Ended September 30,
| 2022 |  | 2021
Allowance for doubtful accounts – January 1 | $ | 4,471 |  |  | $ | 8,304 |
Provisions | 1,237 |  |  | 20 |
Write-offs | (1,581) |  |  | (2,200) |
Other | 272 |  |  | 136 |
Allowance for doubtful accounts – September 30 | $ | 4,399 |  |  | $ | 6,260 |
| September 30, 2022 |  | December 31, 2021
Inventories, net: |  |  |
Finished goods and purchased products | $ | 87,542 |  |  | $ | 87,934 |
Work in process | 29,652 |  |  | 24,722 |
Raw materials | 102,120 |  |  | 96,357 |
Total inventories | 219,314 |  |  | 209,013 |
Allowance for excess or obsolete inventory | (37,686) |  |  | (40,440) |
| $ | 181,628 |  |  | $ | 168,573 |
The Company recorded an impairment charge of $2.1 million in the third quarter of 2021 to reduce the carrying value of inventories within the Downhole Technologies segment to their estimated net realizable value based primarily on management's decision to exit a product offering.
|  |  | September 30, 2022 |  | December 31, 2021
Property, plant and equipment, net: |  |  |  |  |  |  |  |  |
Property, plant and equipment |  | $ | 1,121,891 |  |  | $ | 1,151,533 |
Accumulated depreciation |  | (816,824) |  |  | (812,950) |
|  |  |  |  |  |  | $ | 305,067 |  |  | $ | 338,583 |
For the three months ended September 30, 2022 and 2021, depreciation expense was $11.3 million and $14.7 million, respectively. Depreciation expense was $35.9 million and $46.7 million, respectively, for the nine months ended September 30, 2022 and 2021. During the first and second quarters of 2021, the Well Site Services segment recognized non-cash fixed and operating lease asset impairment charges of $0.7 million and $2.8 million, respectively, associated with the closure of additional facilities coupled with other management actions. During the second quarter of 2021, the segment also recorded an additional $1.9 million charge associated with the exit of a leased facility.
| September 30, 2022 |  | December 31, 2021
Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Other intangible assets: |  |  |  |  |  |  |  |  |  |  |
Customer relationships | $ | 149,673 |  |  | $ | 53,925 |  |  | $ | 95,748 |  |  | $ | 168,284 |  |  | $ | 66,734 |  |  | $ | 101,550 |
Patents/Technology/Know-how | 79,769 |  |  | 37,747 |  |  | 42,022 |  |  | 78,821 |  |  | 33,151 |  |  | 45,670 |
Tradenames and other | 53,956 |  |  | 17,544 |  |  | 36,412 |  |  | 53,708 |  |  | 15,179 |  |  | 38,529 |
| $ | 283,398 |  |  | $ | 109,216 |  |  | $ | 174,182 |  |  | $ | 300,813 |  |  | $ | 115,064 |  |  | $ | 185,749 |
For the three months ended September 30, 2022 and 2021, amortization expense was $5.1 million and $4.9 million, respectively. Amortization expense was $15.5 million and $15.4 million for the nine months ended September 30, 2022 and 2021, respectively.
| September 30, 2022 |  | December 31, 2021
Other noncurrent assets: |  |  |
Deferred compensation plan | $ | 18,198 |  |  | $ | 23,348 |
Deferred financing costs | 2,093 |  |  | 2,674 |
Deferred income taxes | 1,255 |  |  | 1,878 |
Other | 4,751 |  |  | 4,989 |
| $ | 26,297 |  |  | $ | 32,889 |
| September 30, 2022 |  | December 31, 2021
Accrued liabilities: |  |  |
Accrued compensation | $ | 26,909 |  |  | $ | 20,904 |
Accrued taxes, other than income taxes | 9,268 |  |  | 5,130 |
Insurance liabilities | 4,953 |  |  | 6,361 |
Accrued interest | 3,527 |  |  | 3,629 |
Accrued commissions | 2,176 |  |  | 2,194 |
Other | 4,858 |  |  | 5,183 |
| $ | 51,691 |  |  | $ | 43,401 |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI https://asc.fasb.org/topic&trid=2122208 + Details
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