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Long-Lived Asset Impairments (Notes)
9 Months Ended
Sep. 30, 2015
Property, Plant and Equipment [Abstract]  
Long-Lived Asset Impairments
Long-lived Asset Impairments

In the third quarter of 2015, we did not recognize any long-lived asset impairments. During the second quarter of 2015, we recognized $124 million of long-lived asset impairment charges in our North America segment. Based on the following impairment indicators, we performed an analysis of our pressure pumping assets and recorded long-lived asset impairment charges to adjust the assets to fair value. Impairment indicators include: the continued weakness in crude oil prices contributed to lower exploration and production spending and a decline in the utilization of our pressure pumping assets. The decline in oil prices and its impact on demand represented a significant adverse change in the business climate and an indication that these long-lived assets may not be recoverable. See “Note 9 – Fair Value of Financial Instruments, Assets and Equity Investments” for additional information regarding the fair value determination.

In the second quarter of 2015, we prepared an analysis to determine the fair value of our equity investments in less than majority owned entities. Upon completion of this valuation, we determined that the fair value attributable to an equity investment was significantly below its carrying value. We assessed this decline in value as other than temporary and recognized an impairment loss of $20 million in the second quarter of 2015. See “Note 9 – Fair Value of Financial Instruments, Assets and Equity Investments” for additional information regarding the fair value determination. 

In July 2014, we completed the sale of our rig operations in Russia and Venezuela. We expected the sale would significantly impact the revenues and results of our Russia operations. We considered the associated circumstances and determined that the fair values of our Russia and Latin America rig operations were below their carrying amounts. As a result of our commitment to sell, we recorded a $143 million long-lived assets impairment charge.