Property and Equipment
|3 Months Ended|
Mar. 31, 2021
|Property and Equipment|
|Property and Equipment||
(6) Property and Equipment
The Company’s investment in property and equipment for the periods presented is as follows:
Due to the decline in the industry environment as a result of low commodity prices, the Company evaluated its assets for impairment during the first quarter of 2020. As a result of this evaluation, the Company recorded an impairment expense of $89 million, which included an $83 million impairment expense to its permanent buried pipelines and equipment and a $6 million impairment expense to its surface pipelines and equipment.
Additionally, the Company incurred $9 million and $1 million in facility idling costs for the care and maintenance of its wastewater treatment facility and related landfill (collectively, the “Clearwater Facility”) during the three months ended March 31, 2020 and 2021, respectively. The Clearwater Facility was fully impaired when it was idled in September 2019.
The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef