TETRA TECHNOLOGIES INCTTI

TETRA TECHNOLOGIES INC Segments Disclosure

10-KFiled Feb 25, 20263 min read
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 & ProductsWater & Flowback Services
Corporate
Total
(In Thousands)
Revenue$376,453 $254,479 $— $630,932 
Cost of product sales and services228,907 204,815 — 433,722 
Depreciation, amortization and accretion8,913 27,815 371 37,099 
Impairments and other charges— 611 3,551 4,162 
General and administrative expense27,599 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 & ProductsWater & Flowback ServicesCorporateTotal
(In Thousands)
Revenue$311,301 $287,810 $— $599,111 
Cost of product sales and services192,263 231,165 — 423,428 
Depreciation, amortization and accretion9,733 25,631 357 35,721 
Impairments and other charges— — 109 109 
General and administrative expense25,754 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), net1,369 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 & ProductsWater & Flowback Services
Corporate
Total
(In Thousands, Except Percents)
Revenue$313,030 $313,232 $— $626,262 
Cost of product sales and services196,954 241,218 — 438,172 
Depreciation, amortization and accretion9,053 24,876 400 34,329 
Impairments and other charges2,189 — 777 2,966 
Insurance recoveries(2,850)— — (2,850)
Exploration and pre-development costs12,119 — — 12,119 
General and administrative expense28,003 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,
 202520242023
 (In Thousands)
Revenues from external customers   
United States$433,704 $399,141 $417,663 
Europe114,215 112,940 116,838 
South America65,600 56,574 57,700 
Canada and Mexico162 343 1,863 
Middle East, Asia and other17,251 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,
20252024
(In Thousands)
Identifiable assets  
United States$495,717 $444,064 
Europe97,053 79,312 
South America74,061 66,912 
Canada and Mexico365 679 
Africa2,884 3,175 
Middle East, Asia and other5,681 11,053 
Total identifiable assets$675,761 $605,195 
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Historical Timeline

Fiscal YearFiled
2025Feb 25, 2026Showing above
2024Feb 25, 2025
2023Feb 27, 2024
2022Feb 27, 2023
2021Feb 28, 2022
2020Mar 5, 2021
2019Mar 16, 2020
2018Mar 4, 2019
2017Mar 5, 2018
2016Mar 1, 2017
2015Mar 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.

Other Available Disclosures

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