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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES (Tables) | 12 Months Ended
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Dec. 31, 2018
Accounting Policies [Abstract] |
Estimated Useful Lives of Assets |
Classification | Useful Life
Buildings |  | 20-40 years
Enterprise Resource Planning (“ERP”) System |  | 15 years
Leasehold improvements |  | 2-15 years
Machinery and equipment |  | 2-12 years
Furniture and fixtures |  | 2-10 years
Computers and computer software |  | 2-5 years
Automobiles |  | 2-5 years
Summary of Goodwill | A summary of goodwill is as follows (in thousands):
| Twelve Months Ended December 31, 2018
| IHT |  | MS |  | Quest Integrity |  | Total
Balance at beginning of period | $ | 194,211 |  |  | $ | 56,600 |  |  | $ | 33,993 |  |  | $ | 284,804 |
Foreign currency adjustments | (1,603 | ) |  | (712 | ) |  | (578 | ) |  | (2,893 | )
Disposal | — |  |  | (261 | ) |  | — |  |  | (261 | )
Balance at end of period | $ | 192,608 |  |  | $ | 55,627 |  |  | $ | 33,415 |  |  | $ | 281,650 |
| Twelve Months Ended December 31, 2017
| IHT |  | MS |  | Quest Integrity |  | Total
Balance at beginning of year | $ | 213,475 |  |  | $ | 109,059 |  |  | $ | 33,252 |  |  | $ | 355,786 |
Foreign currency adjustments | 1,876 |  |  | 1,642 |  |  | 741 |  |  | 4,259 |
Impairment loss | (21,140 | ) |  | (54,101 | ) |  | — |  |  | (75,241 | )
Balance at end of year | $ | 194,211 |  |  | $ | 56,600 |  |  | $ | 33,993 |  |  | $ | 284,804 |
Amounts Used In Basic and Diluted Earnings (Loss) Per Share | Amounts used in basic and diluted loss per share, for all periods presented, are as follows (in thousands):
| Twelve Months Ended December 31,
| 2018 |  | 2017 |  | 2016
Weighted-average number of basic shares outstanding | 30,031 |  |  | 29,849 |  |  | 28,095 |
Stock options, stock units and performance awards | — |  |  | — |  |  | — |
Convertible senior notes | — |  |  | — |  |  | — |
Total shares and dilutive securities | 30,031 |  |  | 29,849 |  |  | 28,095 |
Non-Cash Investing and Financing Activities | Non-cash investing and financing activities. Non-cash investing and financing activities are excluded from the consolidated statements of cash flows and are as follows (in thousands):
| Twelve Months Ended December 31,
| 2018 |  | 2017 |  | 2016
Property acquired under capital lease | $ | 5,302 |  |  | $ | — |  |  | $ | — |
Note received as consideration in disposal of discontinued operations | $ | — |  |  | $ | — |  |  | $ | 1,511 |
Issuance of common stock - Furmanite acquisition | $ | — |  |  | $ | — |  |  | $ | 209,529 |
Revisions to Prior Period Consolidated Financial Statements | The table below provides a summary of the financial statement line items which were impacted by these error corrections (in thousands, except per share data):
|  | December 31, 2017
|  | As Previously Reported |  | Adjustments |  | As Revised
Effect on consolidated balance sheet |  |  |  |  |  |
Liabilities and Equity |  |  |  |  |  |
Deferred income taxes |  | $ | 38,100 |  |  | $ | (19,706 | ) |  | $ | 18,394 |
Total Liabilities |  | $ | 598,367 |  |  | $ | (19,706 | ) |  | $ | 578,661 |
Retained earnings |  | $ | 115,780 |  |  | $ | 19,706 |  |  | $ | 135,486 |
Total equity |  | $ | 457,468 |  |  | $ | 19,706 |  |  | $ | 477,174 |
|  | Twelve Months Ended December 31, 2017
|  | As Previously Reported |  | Adjustments |  | As Revised
Effect on consolidated statement of operations |  |  |  |  |  |
Benefit for income taxes |  | $ | (33,372 | ) |  | $ | (19,706 | ) |  | $ | (53,078 | )
Loss from continuing operations |  | $ | (104,161 | ) |  | $ | 19,706 |  |  | $ | (84,455 | )
Net loss |  | $ | (104,161 | ) |  | $ | 19,706 |  |  | $ | (84,455 | )
Basic loss per common share: |  |  |  |  |  |
Continuing operations |  | $ | (3.49 | ) |  | 0.66 |  |  | $ | (2.83 | )
Net loss |  | $ | (3.49 | ) |  | 0.66 |  |  | $ | (2.83 | )
Diluted loss per common share: |  |  |  |  |  |
Continuing operations |  | $ | (3.49 | ) |  | 0.66 |  |  | $ | (2.83 | )
Net loss |  | $ | (3.49 | ) |  | 0.66 |  |  | $ | (2.83 | )
Effect of ASC 606 on Financial Statements | The effect of ASC 606 on our consolidated balance sheet as of December 31, 2018 and our consolidated statements of operations for the twelve months ended December 31, 2018 were as follows (in thousands):
|  | December 31, 2018
|  | Without adoption of ASC 606 |  | Adjustments to apply ASC 606 |  | As reported
Effect on consolidated balance sheet |  |  |  |  |  |
Assets |  |  |  |  |  |
Prepaid expenses and other current assets |  | $ | 16,321 |  |  | $ | 3,124 |  |  | $ | 19,445 |
Liabilities and Equity |  |  |  |  |  |
Deferred income taxes |  | $ | 5,494 |  |  | $ | 612 |  |  | $ | 6,106 |
Retained earnings |  | $ | 78,938 |  |  | $ | 2,512 |  |  | $ | 81,450 |
|  | Twelve Months Ended December 31, 2018
|  | Without adoption of ASC 606 |  | Adjustments to apply ASC 606 |  | As reported
Effect on consolidated statement of operations |  |  |  |  |  |
Revenues |  | $ | 1,251,694 |  |  | $ | (4,765 | ) |  | $ | 1,246,929 |
Operating expenses |  | $ | 917,768 |  |  | $ | 905 |  |  | $ | 918,673 |
Benefit for income taxes |  | $ | (29,660 | ) |  | $ | (1,403 | ) |  | $ | (31,063 | )
Net loss |  | $ | (58,879 | ) |  | $ | (4,267 | ) |  | $ | (63,146 | )

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