SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES (Tables)

3 Months Ended

Mar. 31, 2017

Depreciation and amortization of assets are computed by the straight-line method over the following estimated useful lives of the assets:



Classification	Useful Life
Buildings	20-40 years
Enterprise Resource Planning (“ERP”) System	15 years
Leasehold improvements	2-15 years
Machinery and equipment	2-12 years
Furniture and fixtures	2-10 years
Computers and computer software	2-5 years
Automobiles	2-5 years

A summary of property, plant and equipment as of March 31, 2017 and December 31, 2016 is as follows (in thousands):



	March 31, 2017			December 31, 2016
	(unaudited)
Land	$	7,434		$	7,429
Buildings and leasehold improvements	46,525			42,257
Machinery and equipment	237,292			233,063
Furniture and fixtures	8,377			8,431
Capitalized ERP system development costs	46,120			44,876
Computers and computer software	11,830			11,775
Automobiles	5,392			5,370
Construction in progress	13,469			12,997
Total	376,439			366,198
Accumulated depreciation and amortization	(171,097		)	(163,068		)
Property, plant, and equipment, net	$	205,342		$	203,130

A rollforward of goodwill for the three months ended March 31, 2017 is as follows (in thousands):



	Three Months Ended March 31, 2017
	(unaudited)
	TeamQualspec		TeamFurmanite		Quest Integrity		Total
Balance at beginning of period	$	213,475	$	109,059	$	33,252	$	355,786
Foreign currency adjustments	214		222		125		561
Balance at end of period	$	213,689	$	109,281	$	33,377	$	356,347

Amounts used in basic and diluted earnings (loss) per share, for the three months ended March 31, 2017 and 2016, are as follows (in thousands):



	Three Months Ended March 31,
	2017	2016
	(unaudited)	(unaudited)
Weighted-average number of basic shares outstanding	29,804	24,030
Stock options, stock units and performance awards	—	—
Total shares and dilutive securities	29,804	24,030