Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Significant Accounting Policies

Inventory

	December 31,
	2021		2020
	(In thousands)
Raw materials	$	105,638	$	133,424
Work-in-progress		1,368		3,452
Finished goods		19,442		23,709
	$	126,448	$	160,585

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

			Acquisitions
			and
	Balance at		Purchase		Disposals			Cumulative				Balance at
	December 31,		Price		and			Translation		Other		December 31,
	2019		Adjustments		Impairments			Adjustment		Adjustment		2020
	(In thousands)
Drilling Solutions	$	11,436	$	—	$	(11,436)	(1)	$	—		—	$	—
Rig Technologies		16,944		—		(16,362)	(1)		(582)		—		—
Total	$	28,380	$	—	$	(27,798)		$	(582)	$	—	$	—

(1) Due to industry conditions that existed at March 31, 2020, we performed a quantitative impairment assessment of goodwill. Based on the results, we recognized a goodwill impairment of $27.8 million. See Note 3

—Impairments and Other Charges.