Note 6 - Impairment Charges

3 Months Ended

Mar. 31, 2018

Notes to Financial Statements

Asset Impairment Charges [Text Block]

6. IMPAIRMENT CHARGES

Quarter ended

March 31, 2018.

  During the

first

quarter of

2018,

we identified an indicator that certain assets used in the Canadian oil sands

may

be impaired due to market developments, including expected customer commitments, occurring in the

first

quarter of

2018.

 For purposes of our impairment assessment, we separated

two

lodges that were previously treated as a single asset group due to the lodges

no

longer being used together to generate joint cash flows.  We assessed the carrying value of the asset group to determine if it continued to be recoverable based on estimated future cash flows.  Based on the assessment, the carrying value was determined to

not

be fully recoverable, and we proceeded to compare the estimated fair value of the asset group to its respective carrying value.  Accordingly, the value of a Canadian lodge was written down to its estimated fair value of

zero

.  As a result of the analysis described above, we recorded an impairment expense of

$28.7

million.