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Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill by Operating Segment

Goodwill — Goodwill by operating segment as of December 31, 2019 and 2018 and changes for the years then ended are as follows (in thousands):

 

 

 

Contract

 

 

Pressure

 

 

Directional

 

 

Other

 

 

 

 

 

 

 

Drilling

 

 

Pumping

 

 

Drilling

 

 

Operations

 

 

Total

 

Balance, December 31, 2017

 

$

395,060

 

 

$

121,444

 

 

$

88,685

 

 

$

6,284

 

 

$

611,473

 

Goodwill acquired

 

 

 

 

 

 

 

 

 

 

 

9,412

 

 

 

9,412

 

Measurement period adjustment

 

 

 

 

 

 

 

 

1,000

 

 

 

 

 

 

1,000

 

Impairment

 

 

 

 

 

(121,444

)

 

 

(89,685

)

 

 

 

 

 

(211,129

)

Balance, December 31, 2018

 

$

395,060

 

 

$

 

 

$

 

 

$

15,696

 

 

$

410,756

 

Measurement period adjustment

 

 

 

 

 

 

 

 

 

 

$

2,104

 

 

 

2,104

 

Impairment

 

 

 

 

 

 

 

 

 

 

 

(17,800

)

 

 

(17,800

)

Balance, December 31, 2019

 

$

395,060

 

 

$

 

 

$

 

 

$

 

 

$

395,060

 

Summary of Segment and Weighted Average Useful Life of Intangible Assets The following table identifies the segment and weighted average useful life of each of the Company’s intangible assets:

 

 

 

 

Weighted Average

 

 

Segment

 

Useful Life

 

 

 

 

(in years)

Customer relationships

 

Directional drilling

 

3.00

Customer relationships

 

Other operations

 

7.00

Developed technology

 

Directional drilling

 

5.22

Favorable drilling contracts

 

Contract drilling

 

0.83

Internal use software

 

Directional drilling

 

5.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Carrying Amount and Accumulated Amortization of Intangible Assets

The gross carrying amount and accumulated amortization of intangible assets as of December 31, 2019 and 2018 are as follows (in thousands):

 

 

 

2019

 

 

2018

 

 

 

Gross Carrying

 

 

Accumulated

 

 

Net Carrying

 

 

Gross Carrying

 

 

Accumulated

 

 

Net Carrying

 

 

 

Amount

 

 

Amortization

 

 

Amount

 

 

Amount

 

 

Amortization

 

 

Amount

 

Customer relationships

 

$

28,000

 

 

$

(19,710

)

 

$

8,290

 

 

$

28,000

 

 

$

(10,719

)

 

$

17,281

 

Developed technology

 

 

55,772

 

 

 

(15,386

)

 

 

40,386

 

 

 

55,772

 

 

 

(6,533

)

 

 

49,239

 

Favorable drilling contracts

 

 

 

 

 

 

 

 

 

 

 

22,500

 

 

 

(22,500

)

 

 

 

Internal use software

 

 

482

 

 

 

(214

)

 

 

268

 

 

 

482

 

 

 

(118

)

 

 

364

 

 

 

$

84,254

 

 

$

(35,310

)

 

$

48,944

 

 

$

106,754

 

 

$

(39,870

)

 

$

66,884

 

 

Remaining Amortization Expense Associated with Finite-Lived Intangible Assets The remaining amortization expense associated with finite-lived intangible assets is expected to be as follows (in thousands):

Year ending December 31,

 

 

 

 

2020

 

$

19,273

 

2021

 

 

12,483

 

2022

 

 

12,461

 

2023

 

 

1,034

 

2024

 

 

1,034

 

Thereafter

 

 

2,659

 

Total

 

$

48,944