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Impairments of Goodwill and Long-Lived Assets (Tables)

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Impairment of Long-Lived Assets

Following is a summary of impairment charges recognized (in thousands) in our Drilling & Downhole (“D&D”), Completions (“C”), Production (“P”), and Corporate (“Corp”) segments:

			Nine Months Ended September 30, 2020																														Nine Months Ended September 30, 2019
Impairments of:			D&D						C						P						Corp						Total						D&D						C						P						Total
Goodwill (1)			$	—					$	—					$	—					$	—					$	—					$	191,485					$	260,238					$	19,287					$	471,010
Intangible assets (1)			5,257						—						—						—						5,257						—						48,241						5,230						53,471
Property and equipment (1)			1,069						9,608						4,460						—						15,137						5,200						2,655						—						7,855
Operating lease right of use assets (2)			4,544						6,140						1,914						1,498						14,096						1,450						582						155						2,187
Total impairments			$	10,870					$	15,748					$	6,374					$	1,498					$	34,490					$	198,135					$	311,716					$	24,672					$	534,523

			Three Months Ended September 30, 2020																														Three Months Ended September 30, 2019
Impairments of:			D&D						C						P						Corp						Total						D&D						C						P						Total
Goodwill (1)			$	—					$	—					$	—					$	—					$	—					$	191,485					$	260,238					$	19,287					$	471,010
Intangible assets (1)			—						—						—						—						—						—						48,241						5,230						53,471
Property and equipment (1)			—						—						2,962						—						2,962						5,200						2,655						—						7,855
Operating lease right of use assets (2)			3,259						—						—						1,498						4,757						165						—						—						165
Total impairments			$	3,259					$	—					$	2,962					$	1,498					$	7,719					$	196,850					$	311,134					$	24,517					$	532,501

(1) These charges are included in Impairments of goodwill, intangible assets, property and equipment in the condensed consolidated statements of comprehensive loss.

(2) For the nine months ended September 30, 2020 and 2019, $10.4 million and $1.3 million, respectively, of these charges are included in Cost of sales, while $3.7 million and $0.9 million, respectively, are included in Selling, general and administrative expenses in the condensed consolidated statements of comprehensive loss. For the three months ended September 30, 2020 and 2019, $1.8 million and zero, respectively, of these charges are included in Cost of sales, while $2.9 million and $0.2 million, respectively, are included in Selling, general and administrative expenses in the condensed consolidated statements of comprehensive loss.

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- Definition

Tabular disclosure for impairment of long-lived assets held and used by an entity which includes a description of the impaired long-lived asset and facts and circumstances leading to the impairment, aggregate 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 long-lived asset is reported.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2921-110230

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.CC)
-URI http://asc.fasb.org/extlink&oid=27011434&loc=d3e125687-122742

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- References

No definition available.

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