Gain on Sale of Assets

9 Months Ended

Sep. 30, 2018

Discontinued Operations and Disposal Groups [Abstract]

Gain on Sale of Assets

Gain on Sale of Assets

During the second quarter of 2018, we sold certain property, plant and equipment for a net gain of approximately $5.1 million as part of our reorganization and consolidation of operations at our headquarters location in Houston, Texas. A gain on property, plant and equipment or intangible assets is calculated as the difference between the cost of the asset disposed of, net of depreciation, and the sales proceeds received. The net gain is reflected in "Gain on sale of assets" in our accompanying condensed consolidated statements of income (loss). There were no significant sales of assets during the three months ended September 30, 2018.