ASSET IMPAIRMENTS

9 Months Ended

Sep. 30, 2019

Asset Impairment Charges [Abstract]

ASSET IMPAIRMENTS

(14) ASSET IMPAIRMENTS

The below table summarizes impairments during the three and nine months ended September 30, 2019 and 2018, along with the amount of impairment.

	Three Months Ended				Nine Months Ended
(Dollars in thousands)	September 30, 2019		September 30, 2018		September 30, 2019		September 30, 2018
Number of vessels impaired in the period		—		15		—		30
Amount of impairment incurred	$	5,224		16,853	$	5,224		24,254

As of September 30, 2019, we performed an evaluation to determine whether conditions existed that would indicate potential impairment in the value of our assets. Our evaluation did not indicate any indicators of impairment that would require us to perform additional analyses and, consequently, we have recorded no vessel impairment charges in the three and nine months ended September 30, 2019. We did evaluate our inventory as of September 30, 2019 and charged $5.2 million to impairment expense for obsolete marine service and vessel supplies and parts inventory. We considered this valuation approach to be a Level 3 fair value measurement due to the level of estimation involved in valuing obsolete inventory.