As a result of unfavorable market conditions primarily due to the COVID-19 pandemic and developments in global oil markets, which triggered historically low crude oil prices and decreases in our customers’ capital budgets, we incurred additional costs under our 2018 global strategic plan primarily focused on workforce reductions and the reorganization of certain facilities during the first quarter of 2020. We expect to incur these costs associated with such plan throughout the year.

In the third quarter of 2018, we initiated a global strategic plan to better align our operations with current market conditions and finalized this plan during the second quarter of 2019. As a result of this plan, we incurred goodwill impairment, inventory and long-lived asset write-downs, and other restructuring charges of approximately $98.6 million during 2018. During the three months ended June 30, 2019 we incurred approximately $1.0 million in restructuring and other charges, primarily related to consulting fees. During the six months ended June 30, 2019, we incurred restructuring and other charges of approximately $3.4 million primarily related to consulting fees, and an approximate $1.1 million payout to our former Chief Operating Officer, pursuant to a separation agreement entered into with him during the first quarter of 2019. These charges are reflected as "Restructuring and other charges" in our consolidated statement of operations.

The following table summarizes the components of charges included in "Restructuring and other charges" in our consolidated statement of operations for the three and six months ended June 30, 2020 (in thousands):

	Three months ended June 30, 2020		Six months ended June 30, 2020
Inventory write-down	$	-	$	17,272
Severance		-		8,399
Long-lived asset write-down		942		7,854
Other		645		775
	$	1,587	$	34,300

The following table summarizes the changes to our accrued liability balance related to restructuring and other charges as of June 30, 2020 (in thousands):

	June 30, 2020
Balance at January 1, 2020	$	-
Additions for costs expensed		8,399
Reductions for payments		(1,344	)
Ending balance at June 30, 2020	$	7,055

Impairment losses consist of Goodwill impairment of $7.7 million, which occurred in connection with our preparation and review of financial statements for the three months ended March 31, 2020. There were no impairment charges recorded for the three months ended June 30, 2020. These charges are reflected as "Impairments" in our consolidated statement of operations. No goodwill impairment losses were recorded for the three and six months ended June 30, 2019.