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Impairments and Other Charges (Tables)
12 Months Ended
Dec. 31, 2015
Impairments and Other Charges  
Schedule of impairments and other charges

 

 

Year Ended December 31,

 

 

 

2015

 

2014

 

2013

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

Tangible Assets & Equipment:

 

 

 

 

 

 

 

Provision for retirement of assets

 

$

65,633 

 

$

393,962 

 

$

14,044 

 

Impairment of long-lived assets

 

74,464 

 

217,627 

 

20,000 

 

 

 

 

 

 

 

 

 

Subtotal

 

140,097 

 

611,589 

 

34,044 

 

 

 

 

 

 

 

 

 

Goodwill & Intangible Assets:

 

 

 

 

 

 

 

Goodwill impairments

 

 

356,605 

 

 

Intangible asset impairment

 

 

29,942 

 

 

 

 

 

 

 

 

 

 

Subtotal

 

 

386,547 

 

 

 

 

 

 

 

 

 

 

Other Charges:

 

 

 

 

 

 

 

Other-than-temporary impairment

 

180,591 

 

6,974 

 

 

Provision for International operations

 

48,279 

 

 

 

Transaction costs

 

 

22,313 

 

 

Loss on tendered notes

 

 

 

208,197 

 

Termination of employment contract

 

 

 

45,000 

 

 

 

 

 

 

 

 

 

Total

 

$

368,967 

 

$

1,027,423 

 

$

287,241 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of retirement and impairment charges for tangible assets

The following table summarizes the 2015 retirement and impairment charges for tangible assets and equipment by reportable operating segment:

 

 

 

 

 

Provision for

 

Tangible Asset

 

 

 

 

 

Retirements

 

Impairments

 

Total

 

 

 

 

 

 

 

 

 

Drilling & Rig Services:

 

 

 

 

 

 

 

U.S.

 

$

47,247 

 

$

 

$

47,247 

 

Canada

 

7,547 

 

 

7,547 

 

International

 

10,839 

 

52,479 

 

63,318 

 

Rig Services

 

 

3,879 

 

3,879 

 

Other

 

 

18,106 

 

18,106 

 

 

 

 

 

 

 

 

 

Total

 

$

65,633 

 

$

74,464 

 

$

140,097 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The following table summarizes the 2014 retirement and impairment charges for tangible assets and equipment by operating segment:

 

 

 

Provision for

 

Tangible Asset

 

 

 

 

 

Retirements

 

Impairments

 

Total

 

 

 

 

 

 

 

 

 

Drilling & Rig Services:

 

 

 

 

 

 

 

U.S.

 

$

271,141 

 

$

137,000 

 

$

408,141 

 

Canada

 

24,211 

 

10,176 

 

34,387 

 

International

 

56,472 

 

70,451 

 

126,923 

 

Rig Services

 

42,138 

 

 

42,138 

 

 

 

 

 

 

 

 

 

Total

 

$

393,962 

 

$

217,627 

 

$

611,589