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Segments and Related Information (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Financial information by operating segment for the three and nine months ended September 30, 2023 and 2022 is summarized in the following tables (in thousands).

			Revenues						Depreciation and amortization						Operating income (loss)						Capital expenditures						Total assets
Three Months Ended September 30, 2023
Offshore/Manufactured Products(1)			$	111,043					$	4,921					$	17,804					$	2,739					$	536,263
Well Site Services			59,831						6,313						3,285						2,602						201,384
Downhole Technologies			23,415						4,030						(4,118)						541						246,329
Corporate			—						152						(10,781)						150						64,044
Total(1)			$	194,289					$	15,416					$	6,190					$	6,032					$	1,048,020

____________________

(1)Operating income included $1.6 million of facility consolidation charges.

			Revenues						Depreciation and amortization						Operating income (loss)						Capital expenditures						Total assets
Three Months Ended September 30, 2022
Offshore/Manufactured Products(2)			$	96,037					$	5,072					$	13,373					$	1,620					$	540,940
Well Site Services			60,509						6,732						2,359						4,894						205,018
Downhole Technologies			32,848						4,442						(342)						273						257,676
Corporate			—						167						(10,332)						23						46,736
Total(2)			$	189,394					$	16,413					$	5,058					$	6,810					$	1,050,370

____________________

(2)Operating income included a $6.1 million gain on settlement of outstanding litigation against certain service providers.

			Revenues						Depreciation and amortization						Operating income (loss)						Capital expenditures						Total assets
Nine Months Ended September 30, 2023
Offshore/Manufactured Products(3)			$	303,328					$	14,236					$	40,147					$	7,936					$	536,263
Well Site Services			191,425						19,023						14,983						14,046						201,384
Downhole Technologies			79,264						12,480						(8,173)						961						246,329
Corporate			—						470						(31,623)						427						64,044
Total(3)			$	574,017					$	46,209					$	15,334					$	23,370					$	1,048,020

____________________

(3)Operating income included $1.6 million of facility consolidation charges.

			Revenues						Depreciation and amortization						Operating income (loss)						Capital expenditures						Total assets
Nine Months Ended September 30, 2022
Offshore/Manufactured Products(4)			$	276,616					$	15,651					$	33,010					$	3,093					$	540,940
Well Site Services			163,500						22,059						(435)						9,360						205,018
Downhole Technologies			95,156						13,249						(3,332)						657						257,676
Corporate			—						510						(29,611)						153						46,736
Total(4)			$	535,272					$	51,469					$	(368)					$	13,263					$	1,050,370

_______________

(4)Operating income (loss) included a $6.1 million gain on settlement of outstanding litigation against certain service providers.

Schedule of Supplemental Revenue Information by Segments

The following tables provide supplemental disaggregated revenue from contracts with customers by operating segment for the three and nine months ended September 30, 2023 and 2022 (in thousands):

			Offshore/Manufactured Products												Well Site Services												Downhole Technologies												Total
			2023						2022						2023						2022						2023						2022						2023						2022
Three Months Ended September 30
Project-driven:
Products			$	45,527					$	38,911					$	—					$	—					$	—					$	—					$	45,527					$	38,911
Services			30,391						23,421						—						—						—						—						30,391						23,421
Total project-driven			75,918						62,332						—						—						—						—						75,918						62,332
Military and other products			7,195						9,995						—						—						—						—						7,195						9,995
Short-cycle:
Products			27,930						23,710						—						—						21,984						27,127						49,914						50,837
Services			—						—						59,831						60,509						1,431						5,721						61,262						66,230
Total short-cycle			27,930						23,710						59,831						60,509						23,415						32,848						111,176						117,067
			$	111,043					$	96,037					$	59,831					$	60,509					$	23,415					$	32,848					$	194,289					$	189,394

			Offshore/Manufactured Products												Well Site Services												Downhole Technologies												Total
			2023						2022						2023						2022						2023						2022						2023						2022
Nine Months Ended September 30
Project-driven:
Products			$	116,869					$	113,853					$	—					$	—					$	—					$	—					$	116,869					$	113,853
Services			79,867						71,714						—						—						—						—						79,867						71,714
Total project-driven			196,736						185,567						—						—						—						—						196,736						185,567
Military and other products			22,157						23,104						—						—						—						—						22,157						23,104
Short-cycle:
Products			84,435						67,945						—						—						71,645						79,635						156,080						147,580
Services			—						—						191,425						163,500						7,619						15,521						199,044						179,021
Total short-cycle			84,435						67,945						191,425						163,500						79,264						95,156						355,124						326,601
			$	303,328					$	276,616					$	191,425					$	163,500					$	79,264					$	95,156					$	574,017					$	535,272

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- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

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