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Note 24 - Subsequent Events
12 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Subsequent Events [Text Block]

24. Subsequent Events

COVID-19

A novel strain of the coronavirus (“COVID-19”) was first reported in December 2019 and has since spread to over 200 countries and territories, including every state in the United States. On March 11, 2020 the World Health Organization declared COVID-19 a pandemic, and on March 13, 2020 the United States declared a national emergency with respect to COVID-19. 

Our businesses have been adversely affected by the economic impacts of the outbreak of the COVID-19 and the steep decline in commodity prices that occurred in the early part of 2020. Most of our projects continue as we perform services that are categorized under one or more of the “Essential Critical Infrastructure Sectors,” as defined by federal and state law. 

The COVID-19 pandemic has resulted, and is likely to continue to result, in substantial economic disruption for the foreseeable future. We continually monitor COVID-19 information and take actions directed by local health departments including the implementation of additional safety precautions. The extent to which the COVID-19 pandemic impacts our business going forward will depend on numerous evolving factors we cannot reliably predict.

Amendments to Credit Agreement

As discussed further in Note 15, subsequent to December 31, 2019 we entered into four amendments to the Third Amended and Restated Credit Agreement.

Goodwill and investment in affiliates impairment charges 

As discussed further in Note 13, during 2020 we have performed two interim goodwill impairment tests which resulted in $147.1 million in impairment charges. In addition, as discussed further Note 11, during 2020 we recorded a non-cash impairment charge related to investment in affiliates.