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Business Segments (Tables) | 12 Months Ended
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Dec. 31, 2023
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 |
2023 |  |  |  |  |  |  |  |  |  |  |  |
Revenue |  | $ | 1,749 |  |  | $ | 282 |  |  | $ | 290 |  |  | $ | 2,321 |
Operating profit |  |  | 104 |  |  |  | 21 |  |  |  | 15 |  |  |  | 140 |
Depreciation and amortization |  |  | 23 |  |  |  | 2 |  |  |  | 1 |  |  |  | 26 |
Property, plant and equipment, net |  |  | 106 |  |  |  | 12 |  |  |  | 13 |  |  |  | 131 |
Total assets |  |  | 1,192 |  |  |  | 177 |  |  |  | 160 |  |  |  | 1,529 |
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 |
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, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Product Category |  |  |  |  |  |  |  |  |
Pumps, production and drilling |  | $ | 639 |  |  | $ | 531 |  |  | $ | 423 |
Pipe |  |  | 422 |  |  |  | 432 |  |  |  | 277 |
Valves |  |  | 437 |  |  |  | 409 |  |  |  | 317 |
Fittings and flanges |  |  | 433 |  |  |  | 389 |  |  |  | 285 |
Mill tool, MRO, safety and other |  |  | 390 |  |  |  | 375 |  |  |  | 330 |
Total |  | $ | 2,321 |  |  | $ | 2,136 |  |  | $ | 1,632 |

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- 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. + References No definition available. + Details
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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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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