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Segments and Related Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Financial information by operating segment for each of the three years ended December 31, 2024, 2023 and 2022, is summarized in the following tables (in thousands):

			Year Ended December 31, 2024
			Offshore Manufactured Products(1)						Completion and Production Services(2)						Downhole Technologies(3)						Corporate(4)						Total
Revenues			$	397,900					$	163,902					$	130,786					$	—					$	692,588
Costs and expenses:
Cost of revenues (exclusive of depreciation and amortization expense presented below)			279,754						141,393						115,054						—						536,201
Selling, general and administrative expense			37,029						10,813						9,427						37,740						95,009
Depreciation and amortization expense			15,205						22,143						16,808						552						54,708
Impairment of goodwill			—						—						10,000						—						10,000
Impairments of intangible assets			—						10,787						—						—						10,787
Impairments of operating lease assets			—						3,280						487						—						3,767
Other operating (income) loss, net			633						(1,289)						(86)						(15,453)						(16,195)
			332,621						187,127						151,690						22,839						694,277
Operating income (loss)			$	65,279					$	(23,225)					$	(20,904)					$	(22,839)					$	(1,689)
Capital expenditures			$	18,428					$	17,920					$	1,140					$	20					$	37,508
Total assets (as of December 31)			$	510,374					$	152,485					$	265,240					$	77,009					$	1,005,108

________________

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

(2)Operating loss included $24.3 million of asset impairment, facility consolidation and exit, patent defense and other charges

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

(4)Operating loss included a net gain of $15.3 million associated with the sale of a previously idled facility.

			Year Ended December 31, 2023
			Offshore Manufactured Products(1)						Completion and Production Services(2)						Downhole Technologies(3)						Corporate						Total
Revenues			$	381,711					$	242,633					$	157,939					$	—					$	782,283
Costs and expenses:
Cost of revenues (exclusive of depreciation and amortization expense presented below)			274,591						196,158						136,139						—						606,888
Selling, general and administrative expense			34,430						9,417						9,457						40,881						94,185
Depreciation and amortization expense			16,357						25,318						18,467						636						60,778
Other operating (income) loss, net			44						(2,141)						(250)						(385)						(2,732)
			325,422						228,752						163,813						41,132						759,119
Operating income (loss)			$	56,289					$	13,881					$	(5,874)					$	(41,132)					$	23,164
Capital expenditures			$	9,235					$	19,125					$	1,825					$	468					$	30,653
Total assets (as of December 31)			$	521,923					$	191,630					$	278,151					$	54,782					$	1,046,486

________________

(1)Operating income included $2.5 million of facility consolidation and other charges.

(2)Operating income included $0.6 million in costs associated with the defense of certain patents.

(3)Operating loss included $3.2 million in provisions for excess and obsolete inventories.

			Year Ended December 31, 2022
			Offshore Manufactured Products(1)						Completion and Production Services						Downhole Technologies						Corporate						Total
Revenues			$	322,370					$	231,189					$	184,147					$	—					$	737,706
Costs and expenses:
Cost of revenues (exclusive of depreciation and amortization expense presented below)			239,433						187,052						152,071						—						578,556
Selling, general and administrative expense			36,351						10,525						9,081						40,081						96,038
Depreciation and amortization expense			17,972						28,564						20,107						691						67,334
Other operating (income) loss, net			(7,083)						183						(14)						(213)						(7,127)
			286,673						226,324						181,245						40,559						734,801
Operating income (loss)			$	35,697					$	4,865					$	2,902					$	(40,559)					$	2,905
Capital expenditures			$	5,069					$	12,963					$	2,059					$	175					$	20,266
Total assets			$	512,363					$	206,632					$	299,956					$	45,441					$	1,064,392

________________

(1)Operating income included a $6.1 million gain on settlement of outstanding litigation.

Schedule of Supplemental Revenue Information by Segments

The following tables provide supplemental disaggregated revenue from contracts with customers by operating segment for the years ended December 31, 2024, 2023 and 2022 (in thousands):

			Offshore Manufactured Products																		Completion and Production Services																		Downhole Technologies
			2024						2023						2022						2024						2023						2022						2024						2023						2022
Project-driven:
Products			$	232,867					$	235,080					$	189,842					$	—					$	—					$	—					$	—					$	—					$	—
Services			123,906						112,742						98,968						—						—						—						—						—						—
Total project-driven			356,773						347,822						288,810						—						—						—						—						—						—
Military and other products			41,127						33,889						33,560						—						—						—						—						—						—
Short-cycle:
Products			—						—						—						—						—						—						128,571						149,581						162,161
Services			—						—						—						163,902						242,633						231,189						2,215						8,358						21,986
Total short-cycle			—						—						—						163,902						242,633						231,189						130,786						157,939						184,147
			$	397,900					$	381,711					$	322,370					$	163,902					$	242,633					$	231,189					$	130,786					$	157,939					$	184,147

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

Financial information by geographic location for the years ended December 31, 2024, 2023 and 2022, is summarized below (in thousands). Revenues are attributable to countries based on the location of the entity selling the products or performing the services and include export sales. Long-lived assets are attributable to countries based on the physical location of the operations and its operating assets and do not include intercompany receivable balances.

			United States						United Kingdom						Singapore						Other						Total
2024
Revenues from unaffiliated customers			$	484,945					$	103,814					$	38,835					$	64,994					$	692,588
Long-lived assets			354,487						75,014						16,090						36,388						481,979
2023
Revenues from unaffiliated customers			$	594,808					$	81,643					$	48,131					$	57,701					$	782,283
Long-lived assets			407,457						79,607						6,485						41,687						535,236
2022
Revenues from unaffiliated customers			$	571,008					$	82,687					$	34,380					$	49,631					$	737,706
Long-lived assets			443,818						76,377						14,218						41,531						575,944

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