Asset Impairments and Other Charges (Tables)

9 Months Ended

Sep. 30, 2020

Restructuring and Related Activities [Abstract]

Schedule of Asset Impairment Charges

As a result of these events, actions and assessments, the Company recorded the following charges during the first quarter of 2020 (in thousands):

	Completion Services		Drilling Services		Downhole Technologies		Offshore/ Manufactured Products		Pre-tax Total		Tax		After-tax Total
Impairments of goodwill	$	127,054	$	—	$	192,502	$	86,500	$	406,056	$	19,600	$	386,456
Impairments of fixed assets	—		5,198		—		—		5,198		1,092		4,106
Impairments of inventories (Note 4)	8,981		—		—		16,249		25,230		4,736		20,494
Severance and facility closure costs	331		217		—		112		660		139		521

During the second and third quarters of 2020, the Company further reduced its workforce and closed additional facilities in the United States and continued to assess the carrying value of its assets based on the industry outlook regarding demand for and pricing of its products and services, and recorded the following charges (in thousands):

	Completion Services		Downhole Technologies		Offshore/ Manufactured Products		Corporate		Pre-tax Total		Tax		After-tax Total
Second quarter 2020
Impairments of fixed assets	$	2,992	$	—	$	—	$	—	$	2,992	$	628	$	2,364
Severance and facility closure costs	3,544		1,315		322		216		5,397		1,133		4,264
Third quarter 2020
Impairments of inventories (Note 4)	$	—	$	5,921	$	—	$	—	$	5,921	$	1,243	$	4,678
Severance and facility closure costs	—		—		288		—		288		60		228