Assets held for sale includes the net book value of assets the Company plans to sell within the next 12 months and are primarily related to excess assets acquired from the Basic Acquisition. Long-lived assets that meet the held for sale criteria are held for sale and reported at the lower of their carrying value or fair value less estimated costs to sell. The Company intends to sell the excess assets to fund the repayments under the Eclipse Loan and Security Agreement. Refer to “Note 10 — Debt” for further details.

As of September 30, 2022, the Company classified land and buildings within our High Specification Rigs and Processing Solutions and Ancillary Services segments, which are being actively marketed, as held for sale. During the three and nine months ended September 30, 2022, the Company recorded an impairment of $0.2 million and $1.3 million, respectively, to assets held for sale as the carrying value exceeded the fair value less estimated costs to sell. Assets held for sale at September 30, 2022 consisted of the following (in millions):