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Segments and Related Information (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Financial information by operating segment as of and for the three and nine months ended September 30, 2024 and 2023 is summarized in the following tables (in thousands).

			Revenues						Depreciation and amortization						Operating income (loss)						Capital expenditures						Total assets
Three Months Ended September 30, 2024
Offshore Manufactured Products(1)			$	102,234					$	3,631					$	19,310					$	3,074					$	506,563
Completion and Production Services(2)			40,099						5,749						(18,267)						4,084						158,338
Downhole Technologies(3)			32,015						4,121						(3,653)						270						273,093
Corporate			—						134						(8,431)						—						56,147
Total			$	174,348					$	13,635					$	(11,041)					$	7,428					$	994,141

____________________

(1)Operating income included $0.4 million of facility consolidation and other charges.

(2)Operating loss included $17.2 million of asset impairment, facility consolidation and exit, patent defense and other charges.

(3)Operating loss included $0.6 million of asset impairment and other charges.

			Revenues						Depreciation and amortization						Operating income (loss)						Capital expenditures						Total assets
Three Months Ended September 30, 2023
Offshore Manufactured Products(4)			$	96,070					$	4,405					$	15,586					$	2,712					$	495,440
Completion and Production Services			59,831						6,313						3,285						2,602						201,384
Downhole Technologies			38,388						4,546						(1,900)						568						287,152
Corporate			—						152						(10,781)						150						64,044
Total			$	194,289					$	15,416					$	6,190					$	6,032					$	1,048,020

____________________

(4)Operating income included $1.6 million of facility consolidation and other charges.

			Revenues						Depreciation and amortization						Operating income (loss)						Capital expenditures						Total assets
Nine Months Ended September 30, 2024
Offshore Manufactured Products(5)			$	290,647					$	11,571					$	44,270					$	11,847					$	506,563
Completion and Production Services(6)			133,812						17,875						(19,221)						10,416						158,338
Downhole Technologies(7)			103,534						12,646						(16,873)						1,026						273,093
Corporate			—						436						(28,349)						20						56,147
Total			$	527,993					$	42,528					$	(20,173)					$	23,309					$	994,141

____________________

(5)Operating income included $3.4 million of facility consolidation and other charges.

(6)Operating loss included $21.1 million of asset impairment, facility consolidation and exit, patent defense and other charges.

(7)Operating loss included $10.6 million of asset impairment and other charges.

			Revenues						Depreciation and amortization						Operating income (loss)						Capital expenditures						Total assets
Nine Months Ended September 30, 2023
Offshore Manufactured Products(8)			$	255,222					$	12,555					$	32,122					$	7,658					$	495,440
Completion and Production Services			191,425						19,023						14,983						14,046						201,384
Downhole Technologies			127,370						14,161						(148)						1,239						287,152
Corporate			—						470						(31,623)						427						64,044
Total			$	574,017					$	46,209					$	15,334					$	23,370					$	1,048,020

____________________

(8)Operating income included $1.6 million of facility consolidation and other charges.

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, 2024 and 2023 (in thousands):

			Offshore Manufactured Products												Completion and Production Services												Downhole Technologies												Total
			2024						2023						2024						2023						2024						2023						2024						2023
Three Months Ended September 30
Project-driven:
Products			$	58,164					$	58,169					$	—					$	—					$	—					$	—					$	58,164					$	58,169
Services			32,754						30,391						—						—						—						—						32,754						30,391
Total project-driven			90,918						88,560						—						—						—						—						90,918						88,560
Military and other products			11,316						7,510						—						—						—						—						11,316						7,510
Short-cycle:
Products			—						—						—						—						31,318						36,957						31,318						36,957
Services			—						—						40,099						59,831						697						1,431						40,796						61,262
Total short-cycle			—						—						40,099						59,831						32,015						38,388						72,114						98,219
			$	102,234					$	96,070					$	40,099					$	59,831					$	32,015					$	38,388					$	174,348					$	194,289

			Offshore Manufactured Products												Completion and Production Services												Downhole Technologies												Total
			2024						2023						2024						2023						2024						2023						2024						2023
Nine Months Ended September 30
Project-driven:
Products			$	171,053					$	152,241					$	—					$	—					$	—					$	—					$	171,053					$	152,241
Services			89,011						79,867						—						—						—						—						89,011						79,867
Total project-driven			260,064						232,108						—						—						—						—						260,064						232,108
Military and other products			30,583						23,114						—						—						—						—						30,583						23,114
Short-cycle:
Products			—						—						—						—						102,070						119,751						102,070						119,751
Services			—						—						133,812						191,425						1,464						7,619						135,276						199,044
Total short-cycle			—						—						133,812						191,425						103,534						127,370						237,346						318,795
			$	290,647					$	255,222					$	133,812					$	191,425					$	103,534					$	127,370					$	527,993					$	574,017

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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.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

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+ 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
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-Section 50
-Paragraph 22
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
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