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Inventories, net
9 Months Ended
Sep. 30, 2025
Inventory Disclosure [Abstract]  
Inventories, net

3. Inventories, net

Inventories consist primarily of oilfield and industrial finished goods. Finished goods are stated at the lower of cost or net realizable value and using average cost method. Allowances for excess and obsolete inventories are determined based on the Company’s historical usage of inventory on hand as well as its future expectations. As of September 30, 2025 and December 31, 2024, the Company reported inventory of $377 million and $352 million, respectively (net of inventory reserves of $14 million and $17 million, respectively).