Inventories, net |
6 Months Ended |
---|---|
Jun. 30, 2025 | |
Inventory Disclosure [Abstract] | |
Inventories, net | 3. Inventories, netInventories consist primarily of oilfield and industrial finished goods. Finished goods are stated at the lower of cost or net realizable value and using average cost method. Allowances for excess and obsolete inventories are determined based on the Company’s historical usage of inventory on hand as well as its future expectations. As of June 30, 2025 and December 31, 2024, the Company reported inventory of $383 million and $352 million, respectively (net of inventory reserves of $15 million and $17 million, respectively). |