Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Significant Accounting Policies

Inventory

	December 31,
	2019		2018
	(In thousands)
Raw materials	$	130,414	$	116,840
Work-in-progress		5,498		20,329
Finished goods		40,429		28,418
	$	176,341	$	165,587

Change in the carrying amount of goodwill for various contract drilling segments and other operating segments

The change in the carrying amount of goodwill for our segments for the years ended December 31, 2019 and 2018 was as follows:

			Acquisitions
			and
	Balance at		Purchase			Disposals		Cumulative				Balance at
	December 31,		Price			and		Translation		Other		December 31,
	2017		Adjustments			Impairments		Adjustment		Adjustments		2018
	(In thousands)
U.S. Drilling	$	50,149	$	—		$	—	$	—	$	—	$	50,149
International Drilling		75,634		—			—		—		—		75,634
Drilling Solutions		—		11,436	(1)		—		—		—		11,436
Rig Technologies		47,443		—			—		(748)		—		46,695
Total	$	173,226	$	11,436		$	—	$	(748)	$	—	$	183,914

			Acquisitions
			and
	Balance at		Purchase		Disposals			Cumulative				Balance at
	December 31,		Price		and			Translation		Other		December 31,
	2018		Adjustments		Impairments			Adjustment		Adjustment		2019
	(In thousands)
U.S. Drilling	$	50,149	$	—	$	(52,203)	(2)	$	—	$	2,054	$	—
International Drilling		75,634		—		(75,634)	(2)		—		—		—
Drilling Solutions		11,436		—		—			—		—		11,436
Rig Technologies		46,695		—		(28,136)	(2)		439		(2,054)		16,944
Total	$	183,914	$	—	$	(155,973)		$	439	$	—	$	28,380

(1) Represents the goodwill recorded in connection with our acquisition of PetroMar Technologies. See Note 5—Acquisitions for additional discussion.

(2) We determined the carrying value of some of our reporting units exceeded their fair value. As such, we recognized a goodwill impairment of $156.0 million. See Note 3—Impairments and Other Charges.