Annual report pursuant to Section 13 and 15(d)

Goodwill and Intangible Assets

v3.22.4
Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill
Changes in the net carrying amount of goodwill by reporting segment (see Note 20) for the years ended December 31, 2022 and 2021 are presented below (in thousands):
Infrastructure Well Completion Sand Other Total
Balance as of January 1, 2021
Goodwill $ 891  $ 86,043  $ 2,684  $ 14,830  $ 104,448 
Accumulated impairment losses —  (76,829) (2,684) (12,327) (91,840)
891  9,214  —  2,503  12,608 
Acquisitions —  —  —  —  — 
Impairment losses(a)
(891) —  —  —  (891)
Balance as of December 31, 2021
Goodwill 891  86,043  2,684  14,830  104,448 
Accumulated impairment losses (891) (76,829) (2,684) (12,327) (92,731)
—  9,214  —  2,503  11,717 
Acquisitions —  —  —  —  — 
Impairment losses —  —  —  —  — 
Balance as of December 31, 2022
Goodwill 891  86,043  2,684  14,830  104,448 
Accumulated impairment losses (891) (76,829) (2,684) (12,327) (92,731)
$ —  $ 9,214  $ —  $ 2,503  $ 11,717 
a.See Note 6 for a description of impairment losses recognized.


Intangible Assets
The Company had the following definite lived intangible assets recorded as of the dates presented below (in thousands):
December 31,
2022 2021
Trade names 7,850  7,850 
Less: accumulated amortization - trade names (6,068) (5,289)
Intangible assets, net $ 1,782  $ 2,561 
Amortization expense for intangible assets was $0.8 million, $1.0 million and $1.0 million for the years ended December 31, 2022, 2021 and 2020, respectively. The Company recognized impairment of intangible assets totaling $1.2 million for the year ended December 31, 2021. See Note 6 for a description of these impairment losses.
The original lives of trade names range from 10 to 20 years and as of December 31, 2022 the remaining average useful life was 3.22 years.
Aggregated expected amortization expense for the future periods is expected to be as follows (in thousands):
Year ended December 31: Amount
2023 $ 779 
2024 710 
2025 91 
2026 91 
2027 45 
Thereafter 66 
$ 1,782