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Business Segments (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Summary of Financial Information of Company's Reportable Segments

The following table presents financial information for each of the Company’s reportable segments as of and for the year ended December 31 (in millions):

		United States				Canada				International				Total
2022
Revenue		$	1,591			$	315			$	230			$	2,136
Operating profit (loss)			103				30				(2	)			131
Impairment and other charges			—				—				10				10
Depreciation and amortization			16				2				1				19
Property, plant and equipment, net			95				11				13				119
Total assets			991				179				150				1,320
2021
Revenue		$	1,163			$	249			$	220			$	1,632
Operating profit (loss)			(8	)			17				—				9
Impairment and other charges			6				1				—				7
Depreciation and amortization			20				2				1				23
Property, plant and equipment, net			86				11				14				111
Total assets			787				168				149				1,104
2020
Revenue		$	1,153			$	209			$	257			$	1,619
Operating loss			(281	)			(60	)			(79	)			(420	)
Impairment and other charges			189				60				72				321
Depreciation and amortization			23				2				3				28
Property, plant and equipment, net			70				12				16				98
Total assets			714				141				153				1,008

Schedule of Comparison of Approximate Sales Mix in Principal Product Categories

The following table presents a comparison of the approximate sales mix in the principal product categories (in millions):

		Year Ended December 31,
		2022				2021				2020
Product Category
Pumps, production and drilling		$	531			$	423			$	428
Pipe			432				277				228
Valves			409				317				326
Fittings and flanges			389				285				287
Mill tool, MRO, safety and other			375				330				350
Total		$	2,136			$	1,632			$	1,619

X

- Definition

Tabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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