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Business Segments (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Summary of Financial Information of Company's Reportable Segments

The following table presents revenues, significant segment expenses and other segments items included in operating profit for each of the Company’s reportable segments as of and for the year ended December 31 (in millions):

		United States				Canada				International				Total
2024
Revenue		$	1,880			$	253			$	240			$	2,373
Less:
Cost of products			1,456				189				193				1,838
Warehousing, selling and administrative expenses			329				51				36				416
Impairment and other charges			—				—				6				6
Operating profit		$	95			$	13			$	5				113
Other income (expense)															1
Income before income taxes														$	114
2023
Revenue		$	1,749			$	282			$	290			$	2,321
Less:
Cost of products			1,343				207				236				1,786
Warehousing, selling and administrative expenses			302				54				39				395
Operating profit		$	104			$	21			$	15				140
Other income (expense)															(2	)
Income before income taxes														$	138
2022
Revenue		$	1,591			$	315			$	230			$	2,136
Less:
Cost of products			1,214				231				185				1,630
Warehousing, selling and administrative expenses			274				54				37				365
Impairment and other charges			—				—				10				10
Operating profit (loss)		$	103			$	30			$	(2	)			131
Other income (expense)															8
Income before income taxes														$	139

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
2024
Property, plant and equipment, net		$	135			$	11			$	11			$	157
Total assets			1,299				177				145				1,621
Depreciation and amortization			31				2				1				34
2023
Property, plant and equipment, net		$	106			$	12			$	13			$	131
Total assets			1,192				177				160				1,529
Depreciation and amortization			23				2				1				26
2022
Property, plant and equipment, net		$	95			$	11			$	13			$	119
Total assets			991				179				150				1,320
Depreciation and amortization			16				2				1				19

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,
		2024				2023				2022
Product Category
Pumps, production and drilling		$	623			$	639			$	531
Pipe			395				422				432
Valves			520				437				409
Fittings and flanges			475				433				389
Mill tool, MRO, safety and other			360				390				375
Total		$	2,373			$	2,321			$	2,136

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.

+ References

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X

- 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 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: 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 3: 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

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