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Assets Held for Sale
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3 Months Ended | ||
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Mar. 31, 2013
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| Property Plant And Equipment [Abstract] | |||
| Assets Held for Sale |
Assets held for sale of $11.5 million as of March 31, 2013 was comprised of the net book value of five land rigs and related inventory. For three rigs comprising $5.3 million of the assets held for sale balance, we have received $1.6 million in down payment and deposits on these assets and associated inventories. The sale of these assets is expected to be finalized in 2013. The remaining assets held for sale balance is comprised of two rigs located in Kazakhstan. We expect the carrying amount of the assets, less costs to sell, will be fully recoverable through sale of the assets. |
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- Details
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- Definition
The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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