Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2024

Segment Reporting [Abstract]

Summarized Financial Information by Segment

Financial information by business segment for the three and six months ended June 30, 2024 and 2023 is summarized below.

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Revenue:
Pressure Control	$	187,192	$	199,134	$	362,220	$	393,789
Spoolable Technologies	103,716		106,685		202,811		140,435
Corporate and other (1)	(519)		—		(519)		—
Total revenues	290,389		305,819		564,512		534,224
Operating income:
Pressure Control	55,669		62,888		107,344		126,059
Spoolable Technologies	30,041		(6,018)		46,434		(5,769)
Total segment operating income	85,710		56,870		153,778		120,290
Corporate and other (2)	(5,891)		(8,348)		(11,409)		(22,080)
Total operating income	79,819		48,522		142,369		98,210
Interest income, net	1,405		(5,928)		2,094		(4,926)
Other income, net	—		—		—		3,538
Income before income taxes	$	81,224	$	42,594	$	144,463	$	96,822

(1)Represents the elimination of inter-segment revenue for sales from our Pressure Control segment to our Spoolable Technologies segment.

(2)Includes corporate and other costs not directly attributable to our reporting segments, such as corporate executive management and other administrative functions. Prior to January 1, 2024, these costs were previously included in the Pressure Control segment. The information for the six months ended June 30, 2023 has been recast to align with the presentation for the six months ended June 30, 2024.