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Details of Selected Balance Sheet Accounts
 9 Months Ended
Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Details of Selected Balance Sheet Accounts Details of Selected Balance Sheet Accounts
Inventories
A summary of inventories follows (in thousands):September 30, 2020December 31, 2019
Raw materials and subassemblies$18,622 $18,509 
Work-in-process1,372 2,079 
Finished goods4,652 4,932 
Less: reserve for excess and obsolete inventories(12,773)(13,333)
Inventories, net$11,873 $12,187 
Property, Plant and Equipment
A summary of property, plant and equipment follows (in thousands):September 30, 2020December 31, 2019
Buildings$15,739 $15,486 
Machinery and equipment133,900 133,048 
Seismic rental equipment1,851 1,669 
Furniture and fixtures3,164 3,347 
Other (a)
30,269 31,142 
Total184,923 184,692 
Less: accumulated depreciation(137,143)(134,951)
Less: impairment of long-lived assets(36,553)(36,553)
Property, plant and equipment, net$11,227 $13,188 
(a) Consists primarily of cable-based ocean bottom acquisition technologies that were fully impaired.
    Total depreciation expense, including amortization of assets recorded under equipment finance leases, for both the nine months ended September 30, 2020 and 2019 was $2.8 million and $2.4 million, respectively. No impairment charge was recognized during the nine months ended September 30, 2020 and 2019.
Multi-client Data Library
The change in multi-client data library are as follows (in thousands):September 30, 2020December 31, 2019
Gross costs of multi-client data creation$1,018,509 $1,007,762 
Less: accumulated amortization(833,075)(816,401)
Less: impairments to multi-client data library(132,145)(130,977)
Multi-client data library, net$53,289 $60,384 
Total amortization expense for the nine months ended September 30, 2020 and 2019 was $16.7 million and $29.8 million, respectively. For the nine months ended September 30, 2020, the Company recognized an impairment to multi-client data library of $1.2 million. No impairment to multi-client data library was recognized during the nine months ended September 30, 2019.
  GoodwillE&P Technology & Services Optimization Software & ServicesTotal
(In thousands)
Balance at January 1, 2019$2,943 $19,972 $22,915 
Impact of foreign currency translation adjustments— 670 670 
Balance at December 31, 20192,943 20,642 23,585 
Impairment of goodwill— (4,150)(4,150)
Impact of foreign currency translation adjustments— (751)(751)
Balance at September 30, 2020$2,943 $15,741 $18,684 
The Company, following the qualitative consideration, assessed the relevant events and circumstances in evaluating whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. During the first quarter of 2020, markets for oil and gas, as well as other commodities and equities, experienced significant volatility and price declines amid concerns over the economic effects of the COVID-19 pandemic. As a result, the Company’s stock price experienced a significant decline. Based on these facts, the Company performed a goodwill impairment test at March 31, 2020 to determine if it was more likely than not that the fair value of certain reporting units was less than their carrying value.
The Company, following the quantitative consideration, compared the fair value of each reporting unit against its carrying value. If the carrying value of the reporting unit exceeds the fair value, an impairment loss shall be recognized in an amount equal to that excess. The fair value of each reporting unit at March 31, 2020 was determined using a discounted cash flow model. The Company utilized a discount rate of 19% for both reporting units. The Company used reasonable assumptions based on historical data supplemented by anticipated market conditions and estimated growth rates. However, given the uncertainty in determining the assumptions underlying a discounted cash flow analysis, actual results may differ which could result in additional impairment charges in the future.
As a result of this assessment, the Company recorded an impairment charge of $4.2 million for the nine months ended September 30, 2020 related to its Optimization Software & Services reporting unit, which is included within the Operations Optimization segment. No impairment charge was recognized for the E&P Technology Services reporting unit for the nine months ended September 30, 2020.