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Asset Impairments and Other Charges and Benefits | 12 Months Ended
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Dec. 31, 2023
Restructuring and Related Activities [Abstract] |
Asset Impairments and Other Charges and Benefits | Asset Impairments and Other Charges and Benefits During 2023, the Offshore/Manufactured Products segment recognized facility consolidation charges totaling $2.5 million in connection with the ongoing consolidation and relocation of certain manufacturing and service facilities and the relocation of related equipment, which is included in “Other operating income, net.” Additionally, during 2023, the Well Site Services segment recognized $0.6 million in costs associated with the defense of certain patents, which are included in “Selling, general and administrative expense.” In August 2022, the Offshore/Manufactured Products segment settled outstanding litigation against certain service providers in exchange for cash totaling $6.9 million. In connection with this settlement, the Company recognized a gain of $6.1 million (net of legal and other related costs) in 2022, which is included in “other operating income, net.” During 2021, the Company continued its restructuring efforts which began in 2020 due to the COVID-19 pandemic, closing facilities in the United States and assessing the carrying value of its assets based on management actions and the industry outlook regarding demand for and pricing of its products and services, and recorded the following charges (in thousands):
| Offshore/ Manufactured Products |  | Well Site Services |  | Downhole Technologies |  | Corporate |  | Pre-tax Total |  | Tax |  | After-tax Total
Impairments of: |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed assets (Note 5) | $ | — |  |  | $ | 1,372 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,372 |  |  | $ | 289 |  |  | $ | 1,083 |
Operating lease assets (Note 8) | — |  |  | 2,794 |  |  | — |  |  | — |  |  | 2,794 |  |  | 587 |  |  | 2,207 |
Inventories (Note 5) | — |  |  | 1,468 |  |  | 2,113 |  |  | — |  |  | 3,581 |  |  | 752 |  |  | 2,829 |
Severance and restructuring costs(1) | 868 |  |  | 4,266 |  |  | 809 |  |  | 1,555 |  |  | 7,498 |  |  | 1,573 |  |  | 5,925 |
Release of foreign currency translation adjustments on liquidation of an international operation | — |  |  | — |  |  | — |  |  | 9,320 |  |  | 9,320 |  |  | — |  |  | 9,320 |
____________________ (1)Includes recognition of $1.9 million in additional lease-related liabilities associated with the exit of a long-term lease supporting the Well Site Services segment. Additionally, during 2021, the Company recognized $8.8 million in aggregate reductions to payroll tax expense (within cost of revenues and selling, general and administrative expense) as part of the Coronavirus Aid, Relief, and Economic Security Act employee retention credit program.

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- Definition The entire disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References No definition available. + Details
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