SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES (Tables)

3 Months Ended

Mar. 31, 2016

Depreciation and amortization of assets are computed by the straight-line method over the following estimated useful lives of the assets:



Classification	Useful Life
Buildings	20-40 years
Leasehold improvements	2-15 years
Machinery and equipment	2-12 years
Furniture and fixtures	2-10 years
Computers and computer software	2-5 years
Automobiles	2-5 years

A summary of property, plant and equipment as of March 31, 2016 and December 31, 2015 is as follows (in thousands):



	March 31, 2016			December 31, 2015
	(unaudited)
Land	$	7,445		$	3,124
Buildings and leasehold improvements	39,142			29,690
Machinery and equipment	230,352			174,222
Furniture and fixtures	7,584			6,561
Capitalized ERP system development costs	30,484			25,606
Computers and computer software	11,351			8,062
Automobiles	5,578			5,280
Construction in progress	10,006			5,177
Total	341,942			257,722
Accumulated depreciation and amortization	(140,927		)	(132,739		)
Property, plant and equipment, net	$	201,015		$	124,983

A rollforward of goodwill for the three months ended March 31, 2016 is as follows (in thousands):



	Three Months Ended March 31, 2016
	(unaudited)
	Team Qualspec		Team Furmanite		Quest Integrity		Total
Balance at beginning of period	$	207,497	$	19,874	$	29,283	$	256,654
Acquisitions	—		36,720		—		36,720
Foreign currency adjustments	1,054		386		104		1,544
Balance at end of period	$	208,551	$	56,980	$	29,387	$	294,918

Amounts used in basic and diluted earnings (loss) per share, for the three months ended March 31, 2016 and 2015, are as follows (in thousands):



	Three Months Ended March 31,
	2016	2015
	(unaudited)	(unaudited)
Weighted-average number of basic shares outstanding	24,030	20,396
Stock options, stock units and performance awards	—	338
Conversion of non-controlling interest	—	858
Total shares and dilutive securities	24,030	21,592