Assets Held for Sale

12 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

ASSETS HELD FOR SALE

During the fourth quarter of 2017, we made the decision to dispose of our modular construction and manufacturing plant near Edmonton, Alberta, Canada due to changing geographic and market needs. Accordingly, the facility met the criteria of held for sale. Its estimated fair value (less the cost to sell) of $4.8 million exceeded its carrying value. Additionally, we have discontinued depreciation of the facility. The facility is part of our Canada segment.

Certain undeveloped land positions in the British Columbia LNG market in our Canada segment previously met the criteria of held for sale. During the first quarter of 2019, we received $4.0 million in proceeds from the sale of four different land positions. The remaining assets are recorded at the estimated fair value (less costs to sell) of approximately $1.7 million.

In addition, as a result of the Noralta Acquisition, Noralta’s corporate offices located on two adjacent property titles in Nisku, Alberta, Canada were closed. During the fourth quarter of 2018, we sold one property. The remaining property is recorded at the estimated fair value (less costs to sell) of approximately $1.1 million.

The following table summarizes the carrying amount as of December 31, 2019 and 2018 of the assets classified as held for sale (in thousands):



	December 31, 2019		December 31, 2018
Assets held for sale:
Property, plant and equipment, net	$	7,589	$	10,297
Total assets held for sale	$	7,589	$	10,297