Quarterly report pursuant to Section 13 or 15(d)

ASSETS HELD FOR SALE

v3.20.1
ASSETS HELD FOR SALE
3 Months Ended
Mar. 31, 2020
Assets Held For Sale Not Part Of Disposal Group [Abstract]  
ASSETS HELD FOR SALE

3. ASSETS HELD FOR SALE

Our assets held for sale at March 31, 2020, primarily consisted of three 660-ton crawler cranes and a deck barge.  A summary of our assets held for sale at March 31, 2020 and December 31, 2019, is as follows (in thousands):

 

 

 

March 31,

 

 

December 31,

 

Assets

 

2020

 

 

2019

 

Machinery and equipment

 

$

15,338

 

 

$

17,618

 

Accumulated depreciation

 

 

(7,256

)

 

 

(8,612

)

Total assets held for sale

 

$

8,082

 

 

$

9,006

 

 

During the three months ended March 31, 2020 and 2019, we received proceeds of $1.1 million and $0.4 million, respectively, related to the sale of assets that were held for sale.  During the three months ended March 31, 2020, no gain or loss was recognized on the asset sales as the proceeds approximated the carrying value of the assets. During the three months ended March 31, 2019, we recorded a gain of $0.4 million on the asset sales and recorded impairments of $0.3 million related to other assets that were held for sale.