TETRA TECHNOLOGIES INCTTI
TETRA TECHNOLOGIES INC Segments Disclosure
INDUSTRY SEGMENTS AND GEOGRAPHIC INFORMATION
We manage our operations through two segments: Completion Fluids & Products and Water & Flowback Services. Transfers between segments and geographic areas are priced at the estimated fair value of the products or services as negotiated between the operating units.
Summarized financial information concerning the business segments is as follows:
| Year Ended | |||||||||||||||||||||||
| December 31, 2025 | |||||||||||||||||||||||
| Completion Fluids & Products | Water & Flowback Services | Corporate | Total | ||||||||||||||||||||
(In Thousands) | |||||||||||||||||||||||
| Revenue | $ | 376,453 | $ | 254,479 | $ | — | $ | 630,932 | |||||||||||||||
| Cost of product sales and services | 228,907 | 204,815 | — | 433,722 | |||||||||||||||||||
| Depreciation, amortization and accretion | 8,913 | 27,815 | 371 | 37,099 | |||||||||||||||||||
| Impairments and other charges | — | 611 | 3,551 | 4,162 | |||||||||||||||||||
| General and administrative expense | 27,599 | 21,271 | 51,689 | 100,559 | |||||||||||||||||||
| Operating income (loss) | 111,034 | (33) | (55,611) | 55,390 | |||||||||||||||||||
| Interest (income) expense, net | (731) | 51 | 18,007 | 17,327 | |||||||||||||||||||
| Other (income) expense, net | (3,369) | 9,418 | 5,512 | 11,561 | |||||||||||||||||||
| Income (loss) from continuing operations before income taxes | $ | 115,134 | $ | (9,502) | $ | (79,130) | $ | 26,502 | |||||||||||||||
| Capital expenditures | $ | 59,770 | $ | 20,970 | $ | 81 | $ | 80,821 | |||||||||||||||
| December 31, 2025 | |||||||||||||||||||||||
| Total assets | $ | 347,770 | $ | 161,978 | $ | 166,013 | $ | 675,761 | |||||||||||||||
| Year Ended | |||||||||||||||||||||||
| December 31, 2024 | |||||||||||||||||||||||
| Completion Fluids & Products | Water & Flowback Services | Corporate | Total | ||||||||||||||||||||
| (In Thousands) | |||||||||||||||||||||||
| Revenue | $ | 311,301 | $ | 287,810 | $ | — | $ | 599,111 | |||||||||||||||
| Cost of product sales and services | 192,263 | 231,165 | — | 423,428 | |||||||||||||||||||
| Depreciation, amortization and accretion | 9,733 | 25,631 | 357 | 35,721 | |||||||||||||||||||
| Impairments and other charges | — | — | 109 | 109 | |||||||||||||||||||
| General and administrative expense | 25,754 | 19,116 | 45,099 | 89,969 | |||||||||||||||||||
| Operating income (loss) | 83,551 | 11,898 | (45,565) | 49,884 | |||||||||||||||||||
| Interest (income) expense, net | (713) | 64 | 23,114 | 22,465 | |||||||||||||||||||
| Loss on debt extinguishment | — | — | 5,535 | 5,535 | |||||||||||||||||||
| Other expense (income), net | 1,369 | 1,134 | (9,361) | (6,858) | |||||||||||||||||||
| Income (loss) from continuing operations before income taxes | $ | 82,895 | $ | 10,700 | $ | (64,853) | $ | 28,742 | |||||||||||||||
| Capital expenditures | $ | 36,961 | $ | 23,442 | $ | 277 | $ | 60,680 | |||||||||||||||
| December 31, 2024 | |||||||||||||||||||||||
| Total assets | $ | 290,788 | $ | 158,475 | $ | 155,932 | $ | 605,195 | |||||||||||||||
| Year Ended | |||||||||||||||||||||||
| December 31, 2023 | |||||||||||||||||||||||
| Completion Fluids & Products | Water & Flowback Services | Corporate | Total | ||||||||||||||||||||
| (In Thousands, Except Percents) | |||||||||||||||||||||||
| Revenue | $ | 313,030 | $ | 313,232 | $ | — | $ | 626,262 | |||||||||||||||
| Cost of product sales and services | 196,954 | 241,218 | — | 438,172 | |||||||||||||||||||
| Depreciation, amortization and accretion | 9,053 | 24,876 | 400 | 34,329 | |||||||||||||||||||
| Impairments and other charges | 2,189 | — | 777 | 2,966 | |||||||||||||||||||
| Insurance recoveries | (2,850) | — | — | (2,850) | |||||||||||||||||||
| Exploration and pre-development costs | 12,119 | — | — | 12,119 | |||||||||||||||||||
| General and administrative expense | 28,003 | 19,452 | 49,135 | 96,590 | |||||||||||||||||||
| Operating income (loss) | 67,562 | 27,686 | (50,312) | 44,936 | |||||||||||||||||||
| Interest (income) expense, net | (646) | 205 | 22,790 | 22,349 | |||||||||||||||||||
| Other (income) expense, net | (10,106) | 1,757 | (763) | (9,112) | |||||||||||||||||||
| Income (loss) from continuing operations before income taxes | $ | 78,314 | $ | 25,724 | $ | (72,339) | $ | 31,699 | |||||||||||||||
| Capital expenditures | $ | 11,073 | $ | 26,571 | $ | 508 | $ | 38,152 | |||||||||||||||
Summarized financial information concerning the geographic areas of our customers and in which we operate at December 31, 2025, 2024, and 2023, is presented below:
| Year Ended December 31, | ||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||
| (In Thousands) | ||||||||||||||||||||
| Revenues from external customers | ||||||||||||||||||||
| United States | $ | 433,704 | $ | 399,141 | $ | 417,663 | ||||||||||||||
| Europe | 114,215 | 112,940 | 116,838 | |||||||||||||||||
| South America | 65,600 | 56,574 | 57,700 | |||||||||||||||||
| Canada and Mexico | 162 | 343 | 1,863 | |||||||||||||||||
| Middle East, Asia and other | 17,251 | 30,113 | 32,198 | |||||||||||||||||
| Total revenues | $ | 630,932 | $ | 599,111 | $ | 626,262 | ||||||||||||||
Our chief executive officer is considered the chief operating decision maker. We generally evaluate the performance of and allocate resources to our segments based on income (loss) from continuing operations before income taxes, return on investment and other criteria. Resources for each segment, including employees and financial or capital resources, are allocated predominantly through the annual budget as well as the annual and monthly forecasting process.
As of December 31, 2025 and 2024, no single customer represented more than 10% of our consolidated trade accounts receivables, net of allowance for credit losses. During each of the years ended December 31, 2025, 2024, and 2023, no single customer accounted for more than 10% of our consolidated revenues.
| December 31, | ||||||||||||||
| 2025 | 2024 | |||||||||||||
| (In Thousands) | ||||||||||||||
| Identifiable assets | ||||||||||||||
| United States | $ | 495,717 | $ | 444,064 | ||||||||||
| Europe | 97,053 | 79,312 | ||||||||||||
| South America | 74,061 | 66,912 | ||||||||||||
| Canada and Mexico | 365 | 679 | ||||||||||||
| Africa | 2,884 | 3,175 | ||||||||||||
| Middle East, Asia and other | 5,681 | 11,053 | ||||||||||||
| Total identifiable assets | $ | 675,761 | $ | 605,195 | ||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 25, 2025 | |
| 2023 | Feb 27, 2024 | |
| 2022 | Feb 27, 2023 | |
| 2021 | Feb 28, 2022 | |
| 2020 | Mar 5, 2021 | |
| 2019 | Mar 16, 2020 | |
| 2018 | Mar 4, 2019 | |
| 2017 | Mar 5, 2018 | |
| 2016 | Mar 1, 2017 | |
| 2015 | Mar 4, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.