Additional information regarding selected balance sheet accounts as of March 31, 2026 and December 31, 2025 is presented below (in thousands):


	March 31, 2026			December 31, 2025
Accounts receivable, net:
Trade	$	118,298		$	127,607
Unbilled revenue	23,233			21,870
Contract assets	41,787			47,349
Other	6,298			8,409
Total accounts receivable	189,616			205,235
Allowance for doubtful accounts	(2,401)			(2,790)
	$	187,215		$	202,445

Allowance for doubtful accounts as a percentage of total accounts receivable	1		%	1		%

As of March 31, 2026, accounts receivable, net in the United States, the United Kingdom and Singapore represented 57%, 13% and 11%, respectively, of the total. No other country or single customer accounted for more than 10% of the Company’s total accounts receivable as of March 31, 2026.

For the three months ended March 31, 2026, the $5.6 million net decrease in contract assets was primarily attributable to $21.8 million transferred to accounts receivable, which was partially offset by $18.2 million in revenue recognized during the period. Deferred revenue (contract liabilities) decreased by $4.4 million in the first three months of 2026, reflecting the recognition of $14.2 million of revenue that was deferred at the beginning of the period, partially offset by $9.9 million in new customer billings which were not recognized as revenue during the period.

The following provides a summary of activity in the allowance for doubtful accounts for the three months ended March 31, 2026 and 2025 (in thousands):


	Three Months Ended March 31,
	2026		2025
Allowance for doubtful accounts – January 1	$	2,790	$	2,614
Provisions	114		167
Write-offs	(502)		(12)
Other	(1)		2
Allowance for doubtful accounts – March 31	$	2,401	$	2,771


	March 31, 2026		December 31, 2025
Inventories, net:
Finished goods and purchased products	$	92,807	$	84,572
Work in process	31,742		33,281
Raw materials	101,169		95,691
Total inventories	225,718		213,544
Allowance for excess or obsolete inventories	(30,048)		(30,135)
	$	195,670	$	183,409


			March 31, 2026			December 31, 2025
Property, plant and equipment, net:







Property, plant and equipment	$	664,621		$	666,887
Accumulated depreciation	(425,936)			(422,505)
							$	238,685	$	244,382

As further discussed in Note 2, “Asset Impairments and Other Charges,” certain equipment in the Completion and Production Services segment was reclassified to Corporate assets held for sale during the first quarter of 2026.


	March 31, 2026						December 31, 2025
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Other intangible assets:
Customer relationships	$	123,005	$	107,900	$	15,105	$	123,073	$	107,300	$	15,773
Patents/Technology/Know-how	68,959		60,109		8,850		68,999		59,605		9,394
Tradenames and other	47,745		41,706		6,039		47,752		41,464		6,288
	$	239,709	$	209,715	$	29,994	$	239,824	$	208,369	$	31,455

For the three months ended March 31, 2026 and 2025, amortization expense was $1.4 million and $3.8 million, respectively. During the fourth quarter of 2025, the Company assessed the carrying value of the long-lived assets of an asset group within the Downhole Technologies segment. As a result of this assessment, the segment reduced the carrying values of customer relationships by $44.7 million, patents/technology/know-how by $19.3 million and tradenames by $16.2 million. Following these fourth quarter 2025 impairments, amortization expense associated with these intangible assets in 2026 decreased from 2025 levels.


	March 31, 2026		December 31, 2025
Other noncurrent assets:
Deferred compensation plan	$	21,963	$	22,564
Deferred financing costs	2,240		997
Deferred income taxes	1,966		2,057
Other	3,304		3,430
	$	29,473	$	29,048


	March 31, 2026		December 31, 2025
Accrued liabilities:
Accrued compensation	$	12,054	$	23,573
Accrued taxes, other than income taxes	1,875		872
Insurance liabilities	3,259		2,972
Accrued interest	1,256		599
Accrued commissions	3,055		2,715
Other	8,603		7,749
	$	30,102	$	38,480