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Segment Reporting (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Summarized Financial Information by Segment
Financial information by segment for the years ended December 31, 2024, 2023, and 2022 is summarized below.

Year Ended December 31,
2024
Pressure Control
Spoolable Technologies
Total
Revenues from external customers
$722,776 $407,038 $1,129,814 
Intersegment revenue
1,262 — 1,262 
Total revenues724,038 407,038 1,131,076 
Reconciliation of revenue
Elimination of intersegment revenue
(1,262)
Total consolidated revenues
1,129,814 
Less:(1)
Cost of revenue from external customers
$455,853 $237,568 693,421 
Intersegment cost of revenue
1,127 — 1,127 
Total cost of revenues
456,980 237,568 694,548 
Reconciliation of cost of revenue
Elimination of intersegment cost of revenue
(1,127)
Total consolidated cost of revenue
693,421 
Selling, general, administrative expenses and other (2)
56,348 64,606 
Segment profit
$210,710 $104,864 $315,574 
Reconciliation of segment profit
Elimination of intersegment profit
(135)
Total consolidated segment profit
$315,439 
Corporate expenses (3)
(25,826)
Total operating income
$289,613 
Interest income, net
6,459 
Other income, net
3,204 
Income before income taxes$299,276 
(1) The significant expense categories and amounts align with the segment with the segment-level information that is regularly provided to the chief operating decision maker.

(2) For each reportable segment, the 'Selling, general, administrative expenses and other' line items category includes: salaries and wages, stock based compensation amortization expense, depreciation expense, professional fees, rent expense, and other miscellaneous items. Spoolable technologies also includes the change in fair value of the earn-out liability.
    
(3) Comprised primarily of expenses not allocated to our operating segments.
Year Ended December 31,
2023
Pressure Control
Spoolable Technologies
Total
Revenues from external customers
$756,727 $340,233 $1,096,960 
Intersegment revenue
— — — 
Total revenues756,727 340,233 1,096,960 
Reconciliation of revenue
Elimination of intersegment revenue
— 
Total consolidated revenues
1,096,960 
Less:(1)
Cost of revenue from external customers
$475,818 $214,850 $690,668 
Intersegment cost of revenue
— — — 
Total cost of revenues475,818 214,850 690,668 
Reconciliation of cost of revenue
Elimination of intersegment cost of revenue
— 
Total consolidated cost of revenue
690,668 
Selling, general, administrative expenses and other (2)
43,975 63,211 
Segment profit
$236,934 $62,172 $299,106 
Reconciliation of segment profit
Elimination of intersegment profit
— 
Total consolidated segment profit
$299,106 
Corporate expenses (3)
(34,740)
Total operating income
$264,366 
Interest expense, net
(6,480)
Other income, net
4,490 
Income before income taxes$262,376 
(1) The significant expense categories and amounts align with the segment with the segment-level information that is regularly provided to the chief operating decision maker.

(2) For each reportable segment, the 'Selling, general, administrative expenses and other' line items category includes: salaries and wages, stock based compensation amortization expense, depreciation expense, professional fees, rent expense, and other miscellaneous items. Spoolable technologies also includes the change in fair value of the earn-out liability.
    
(3) Comprised primarily of expenses not allocated to our operating segments.
Year Ended December 31,
2022
Pressure Control
Spoolable Technologies
Total
Revenues from external customers
$688,369 $— $688,369 
Intersegment revenue
— — — 
Total revenues688,369 — 688,369 
Reconciliation of revenue
Elimination of intersegment revenue
— 
Total consolidated revenues
688,369 
Less:(1)
Cost of revenue from external customers
$445,921 $— $445,921 
Intersegment cost of revenue
— — — 
Total cost of revenues
445,921 — 445,921 
Reconciliation of cost of revenue
Elimination of intersegment cost of revenue
— 
Total consolidated cost of revenue
445,921 
Selling, general, administrative expenses and other (2)
39,798 — 
Segment profit
$202,650 $— $202,650 
Reconciliation of segment profit
Elimination of intersegment profit
— 
Total consolidated segment profit
$202,650 
Corporate expenses (3)
(27,902)
Total operating income
$174,748 
Interest income, net
3,714 
Other expense, net
(1,910)
Income before income taxes$176,552 
(1) The significant expense categories and amounts align with the segment with the segment-level information that is regularly provided to the chief operating decision maker.

(2) For each reportable segment, the 'Selling, general, administrative expenses and other' line items category includes: salaries and wages, stock based compensation amortization expense, depreciation expense, professional fees, rent expense, and other miscellaneous items.

(3)    Comprised primarily of expenses not allocated to our operating segments.
Additional financial information by operating segment for the years ended December 31, 2024, 2023, and 2022 is summarized below.
Year Ended December 31,
202420232022
Depreciation and amortization:
Pressure Control$26,782 $30,898 $34,124 
Spoolable Technologies33,656 34,147 — 
Total depreciation and amortization$60,438 $65,045 $34,124 
Capital expenditures:
Pressure Control$24,240 $40,940 $28,291 
Spoolable Technologies14,936 3,037 — 
Total capital expenditures$39,176 $43,977 $28,291 
Segment Assets:(1)
Pressure Control$438,929 $437,887 $447,937 
Spoolable Technologies705,943 713,007 — 
Total segment assets1,144,872 1,150,894 447,937 
Corporate and other(2)
594,456 371,667 670,959 
Total assets$1,739,328 $1,522,561 $1,118,896 
(1)    Segment assets consist of accounts receivables, inventories, prepaid expenses and other current assets, property and equipment, net, goodwill and other intangible assets, net.
(2)    Consists primarily of cash and cash equivalents and deferred tax assets.