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SEC Filings

10-Q
KEY ENERGY SERVICES INC filed this Form 10-Q on 11/09/2017
Entire Document
 

The table below presents comparative detailed information about other current liabilities at September 30, 2017 and December 31, 2016 (in thousands):
 
 
 
 
 
September 30, 2017
 
December 31, 2016
Other current liabilities:
 
 
 
Accrued payroll, taxes and employee benefits
$
16,219

 
$
23,224

Accrued operating expenditures
10,313

 
16,669

Income, sales, use and other taxes
11,105

 
10,748

Self-insurance reserve
26,994

 
35,484

Accrued interest
6,586

 
1,419

Accrued insurance premiums
127

 
2,347

Unsettled legal claims
10,686

 
5,398

Accrued severance
250

 
2,219

Current liabilities held for sale

 
371

Other
103

 
6,059

Total
$
82,383

 
$
103,938

The table below presents comparative detailed information about other non-current liabilities at September 30, 2017 and December 31, 2016 (in thousands):
 
 
 
 
 
September 30, 2017
 
December 31, 2016
Other non-current liabilities:
 
 
 
Asset retirement obligations
$
8,891

 
$
9,035

Environmental liabilities
2,075

 
3,446

Accrued sales, use and other taxes
17,321

 
16,735

Deferred tax liabilities

 
35

Other
201

 
528

Total
$
28,488

 
$
29,779

NOTE 6. INTANGIBLE ASSETS
The components of our other intangible assets as of September 30, 2017 and December 31, 2016 are as follows (in thousands):
 
 
 
 
 
September 30, 2017
 
December 31, 2016
Trademark:
 
 
 
Gross carrying value
520

 
520

Accumulated amortization
(43
)
 

Net carrying value
477

 
520

The weighted average remaining amortization periods and expected amortization expense for the next five years for our definite lived intangible assets are as follows:
 
Weighted
average
remaining
amortization
period (years)
 
Expected amortization expense (in thousands)
 
Remainder
of 2017
 
2018
 
2019
 
2020
 
2021
 
2022
Trademarks
8.3
 
15

 
58

 
58

 
58

 
58

 
58

Amortization expense for our intangible assets was less than $0.1 million and $0.4 million for the three months ended September 30, 2017 and 2016, respectively, and less than $0.1 million and $1.3 million for the nine months ended September 30, 2017 and 2016, respectively.

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