Segment Data

3 Months Ended

Mar. 31, 2020

Summarized operating results for our reportable segments are shown in the following table (net of inter-segment transfers):


	First Quarter
(In thousands)	2020		2019
Revenues
Fluids systems	$	132,805	$	160,653
Mats and integrated services	31,745		50,820
Total revenues	$	164,550	$	211,473

Operating income (loss)
Fluids systems	$	(2,268)	$	3,874
Mats and integrated services	3,062		13,538
Corporate office	(6,680)		(11,733)
Total operating income (loss)	$	(5,886)	$	5,679

The following table presents further disaggregated revenues for the Fluids Systems segment:


	First Quarter
(In thousands)	2020		2019
United States	$	73,660	$	103,059
Canada	13,260		13,266
Total North America	86,920		116,325

EMEA	42,137		37,765
Other	3,748		6,563
Total International	45,885		44,328

Total Fluids Systems revenues	$	132,805	$	160,653

The following table presents further disaggregated revenues for the Mats and Integrated Services segment:


	First Quarter
(In thousands)	2020		2019
Service revenues	$	14,101	$	21,150
Rental revenues	13,502		21,580
Product sales revenues	4,142		8,090
Total Mats and Integrated Services revenues	$	31,745	$	50,820

We recognized $1.4 million of charges for inventory write-downs and severance costs in the first quarter of 2020, with $1.2 million in the Fluids Systems segment and $0.2 million in the Corporate office. During March 2020, oil prices collapsed due to geopolitical events along with the worldwide effects of the COVID-19 pandemic. As of May 1, 2020, the U.S. active rig count was 408, reflecting a 48% decline from the first quarter 2020 average level, and is expected to continue to significantly decline in the coming months. In response to the deteriorating U.S. land oil and natural gas market, we initiated certain headcount reductions and other cost reduction programs late in the first quarter of 2020, and these actions have continued into the second quarter of 2020. As a result, we expect to recognize additional severance charges and certain facility exit costs in the second quarter of 2020; however, such amounts are not currently estimable.

We also made the decision in late 2019 to wind down our Brazil operations. At March 31, 2020, we had $11.6 million of accumulated translation losses related to our subsidiary in Brazil. As such, we will reclassify these losses and recognize a charge to income at such time when we have substantially liquidated our subsidiary in Brazil.

As of March 31, 2020, our consolidated balance sheet includes $42.1 million of goodwill, all of which relates to the Mats and Integrated Services segment. Goodwill and other indefinite-lived intangible assets are tested for impairment annually as of November 1, or more frequently, if indicators of impairment exists. In March 2020, primarily as a result of the collapse in oil prices and the expected declines in the U.S. land E&P markets, along with a significant decline in the quoted market prices of our common stock, we considered these developments to be a potential indicator of impairment that required us to complete an interim goodwill impairment evaluation. As such, in March 2020, we estimated the fair value of our Mats and Integrated Services reporting unit based on our current forecasts and expectations for market conditions and determined that even though the estimated fair value had decreased, the fair value remained substantially in excess of its net carrying value, and therefore, no impairment was required.

As of March 31, 2020, our consolidated balance sheet also includes $305.7 million of property, plant and equipment, net, and $27.5 million of finite-lived intangible assets, net, which combined includes $170.8 million in the Fluids Systems segment and $150.8 million in the Mats and Integrated Services segment. We review property, plant and equipment, finite-lived intangible assets and certain other assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. We assess recoverability based on expected undiscounted future net cash flows. With the market uncertainty as discussed above, we completed an impairment review of such assets in March 2020, which indicated that the estimated undiscounted cash flows exceeded the carrying value, and therefore, no impairment was required.