Commitments and Contingencies |
9 Months Ended |
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Sep. 30, 2026 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Commitments and Contingencies | Commitments and Contingencies In the ordinary course of business, the Company is, and in the future could be, involved in various pending or threatened legal actions, some of which may or may not be covered by insurance. Management has reviewed such pending judicial and legal proceedings, the reasonably anticipated costs and expenses in connection with such proceedings, and the availability and limits of insurance coverage, and has established reserves that are believed to be appropriate in light of those outcomes that are believed to be probable and can be estimated. Tenaris Litigation In connection with the Tenaris litigation described in Note 11 of the notes to the consolidated financial statements included in Item 8 of the Company’s 2025 Annual Report on Form 10-K filed with the SEC on February 27, 2026, the Court of Appeals issued a written opinion determining that the District Court erred in its dismissal of the Company’s anti-trust claims and Tenaris’ infringement claims. The case was remanded back to the District Court. Based on ongoing negotiations and management's assessment of the probable outcome, the Company recorded a litigation charge of $3.0 million in the third quarter 2026. Although the matter has not been fully resolved and no final settlement agreement has been executed, management believes the accrual at September 30, 2026 represents its best estimate of the probable remaining cost associated with achieving a final resolution of the matter. The reserves accrued at December 31, 2025 were immaterial. In the opinion of management, the Company’s ultimate liability, if any, with respect to these actions is not expected to have a material adverse effect on the Company’s financial position, results of operations or cash flows. For further disclosure regarding certain litigation matters, refer to Note 11 of the notes to the consolidated financial statements included in Item 8 of the Company’s 2025 Annual Report on Form 10-K filed with the SEC on February 27, 2026.
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