0000071829-24-000036 | 10-Q | XBRL Viewer

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Divestitures and Other Exit Activities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Cash and cash equivalents	$ 37,695	$ 38,594
Debt	77,438	$ 75,033
Expected exit related costs	1,000
Fluids Systems
Business Acquisition [Line Items]
Net assets	226,000
Cash and cash equivalents	35,000
Debt	14,000
Net working capital	174,000
Accumulated translation losses	$ 62,000

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Inventories

3 Months Ended

Mar. 31, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories consisted of the following:


(In thousands)	March 31, 2024		December 31, 2023
Raw materials:
Fluids Systems	$	98,530	$	104,227
Industrial Solutions	4,668		4,232
Total raw materials	103,198		108,459
Blended fluids systems components	17,142		18,246
Finished goods — mats	11,259		14,374
Total inventories	$	131,599	$	141,079

Raw materials for the Fluids Systems segment consist primarily of chemicals and other additives that are consumed in the production of our fluids systems. Raw materials for the Industrial Solutions segment consist primarily of resins and other materials used to manufacture composite mats, as well as materials that are consumed in providing spill containment and other services to our customers. Our blended fluids systems components consist of base fluids systems that have been either mixed internally at our blending facilities or purchased from third-party vendors. These base fluids systems require raw materials to be added, as needed to meet specified customer requirements.

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Inventory, Net, Items Net of Reserve Alternative [Abstract]
Raw materials	$ 103,198	$ 108,459
Total inventories	131,599	141,079
Fluids Systems
Inventory, Net, Items Net of Reserve Alternative [Abstract]
Raw materials	98,530	104,227
Industrial Solutions
Inventory, Net, Items Net of Reserve Alternative [Abstract]
Raw materials	4,668	4,232
Blended fluids systems components
Inventory, Net, Items Net of Reserve Alternative [Abstract]
Finished goods	17,142	18,246
Finished goods — mats
Inventory, Net, Items Net of Reserve Alternative [Abstract]
Finished goods	$ 11,259	$ 14,374

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income	$ 7,293	$ 5,620

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Basis of Presentation and Significant Accounting Policies - Narrative (Details)	3 Months Ended
	Mar. 31, 2024 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	2

Commitments and Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Gain on insurance recovery	$ 874	$ 0
Gain related to legal settlement	$ 600

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 4,853	$ 4,751
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	111,669,464	111,669,464
Treasury stock, shares (in shares)	26,467,812	26,471,738

Inventories (Tables)

3 Months Ended

Mar. 31, 2024

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories consisted of the following:


(In thousands)	March 31, 2024		December 31, 2023
Raw materials:
Fluids Systems	$	98,530	$	104,227
Industrial Solutions	4,668		4,232
Total raw materials	103,198		108,459
Blended fluids systems components	17,142		18,246
Finished goods — mats	11,259		14,374
Total inventories	$	131,599	$	141,079

Repurchase Program	3 Months Ended
Repurchase Program	Mar. 31, 2024
Equity [Abstract]
Repurchase Program	Repurchase Program In November 2018, our Board of Directors authorized a securities repurchase program available for repurchases of any combination of our common stock and our unsecured convertible senior notes, which matured in December 2021. In February 2024, our Board of Directors replaced the existing program with a new repurchase program for repurchases of common stock up to $50.0 million. Our repurchase program authorizes us to purchase outstanding shares of our common stock in the open market or as otherwise determined by management, subject to certain limitations under the Amended ABL Facility (as defined in Note 7) and other factors. The repurchase program has no specific term. Repurchases are expected to be funded from borrowings under our Amended ABL Facility, operating cash flows, and available cash on hand. As part of the share repurchase program, our management has been authorized to establish trading plans under Rule 10b5-1 of the Securities Exchange Act of 1934. As of March 31, 2024, we had $50.0 million remaining under the program. There were no shares of common stock repurchased under the repurchase program during the first quarter of 2024. During the first quarter of 2023, we repurchased an aggregate of 3.4 million shares of our common stock under the repurchase program for a total cost of $15.1 million.

- Definition

The entire disclosure for equity.

+ References

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+ Details

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Use of Estimates	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
New Accounting Pronouncements	New Accounting Pronouncements Standards Not Yet Adopted Segment Reporting. In November 2023, the Financial Accounting Standards Board (“FASB”) issued new guidance which is intended to improve reportable segment disclosure requirements through enhanced disclosures. The amendments require disclosure of significant segment expenses regularly provided to the chief operating decision maker (CODM) as well as other segment items, extend certain annual disclosures to interim periods, clarify the applicability to single reportable segment entities, permit more than one measure of profit or loss to be reported under certain conditions, and require disclosure of the title and position of the CODM. This guidance will be effective for us for the year ending December 31, 2024. We are currently evaluating the impact of the new guidance on our consolidated financial statements and related disclosures. Income Taxes: Improvements to Income Tax Disclosures. In December 2023, the FASB issued new guidance which is intended to enhance the transparency and decision usefulness of income tax disclosures. This guidance will be effective for us in the first quarter of 2025. We are currently evaluating the impact of the new guidance on our consolidated financial statements and related disclosures.

Earnings Per Share - Reconciliation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Numerator
Net income - basic and diluted	$ 7,293	$ 5,620
Denominator
Weighted average common shares outstanding - basic (in shares)	85,001	88,573
Dilutive effect of stock options and restricted stock awards (in shares)	2,244	1,997
Weighted average common shares outstanding - diluted (in shares)	87,245	90,570
Net income per common share
Basic (in dollars per share)	$ 0.09	$ 0.06
Diluted (in dollars per share)	$ 0.08	$ 0.06

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Divestitures and Other Exit Activities	3 Months Ended
Divestitures and Other Exit Activities	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
Divestitures and Other Exit Activities	Divestitures and Other Exit Activities We regularly review our global portfolio of business activities, evaluating changes in the outlook for our served markets and customer priorities, while identifying opportunities for value-creating options in our portfolio. As part of these reviews, we have taken the following strategic actions. Review of Strategic Alternatives for Fluids Systems Business We initiated a review of strategic alternatives for the long-term positioning of the Fluids Systems division in June 2023, and in September 2023, we launched a formal sale process for substantially all the Fluids Systems business as part of this strategic review. The ongoing Fluids sale process did not meet the held for sale accounting criteria as of March 31, 2024, and as such, continued to be accounted for as held for use. As of March 31, 2024, the Fluids Systems business had approximately $226 million of net assets, including $35 million in cash, $14 million of debt, and $174 million of net working capital. In addition, as of March 31, 2024, the Fluids Systems business had approximately $62 million of accumulated translation losses, which would be reclassified as a charge to income upon a disposition or substantial liquidation of the associated entities. Exit of Other Operations In addition to the above, in 2023, we made the decision to exit our offshore Australia operations, as well as our stimulation chemicals product line. We expect to incur certain exit related costs in 2024 of approximately $1 million from the exit of our offshore Australia operations. In 2023, we also completed our customer contract in Chile and completed the substantial liquidation of our Chile subsidiary. The operating results for these now exited businesses were not material for the first quarter of 2024 or 2023.

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Paid-In Capital	Accumulated Other Comprehensive Loss	Retained Earnings	Treasury Stock
Beginning balance at Dec. 31, 2022	$ 423,028	$ 1,115	$ 641,266	$ (67,186)	$ 2,489	$ (154,656)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	5,620				5,620
Employee stock options, restricted stock and employee stock purchase plan	(7)					(7)
Stock-based compensation expense	1,738		1,738
Treasury shares purchased at cost	(15,149)					(15,149)
Foreign currency translation, net of tax	1,999			1,999
Ending balance at Mar. 31, 2023	417,229	1,115	643,004	(65,187)	8,109	(169,812)
Beginning balance at Dec. 31, 2023	415,364	1,117	639,645	(62,839)	10,773	(173,332)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	7,293				7,293
Employee stock options, restricted stock and employee stock purchase plan	17		(79)		71	25
Stock-based compensation expense	1,495		1,495
Treasury shares purchased at cost	(45)					(45)
Foreign currency translation, net of tax	(2,535)			(2,535)
Ending balance at Mar. 31, 2024	$ 421,589	$ 1,117	$ 641,061	$ (65,374)	$ 18,137	$ (173,352)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

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+ Details

Repurchase Program (Details) - USD ($)	3 Months Ended
Repurchase Program (Details) - USD ($)	Mar. 31, 2024	Mar. 31, 2023	Feb. 28, 2024
Equity, Class of Treasury Stock [Line Items]
Treasury shares purchased at cost	$ 45,000	$ 15,149,000
Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase authorized amount (up to)			$ 50,000,000
Remaining authorized repurchase amount	$ 50,000,000
Repurchased shares (in shares)	0	3,400,000
Treasury shares purchased at cost		$ 15,100,000

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 37,695	$ 38,594
Receivables, net of allowance of $4,853 and $4,751, respectively	169,723	168,457
Inventories	131,599	141,079
Prepaid expenses and other current assets	8,901	9,094
Total current assets	347,918	357,224
Property, plant and equipment, net	203,293	195,289
Operating lease assets	20,779	20,731
Goodwill	47,253	47,283
Other intangible assets, net	16,323	17,114
Deferred tax assets	3,271	2,628
Other assets	1,992	2,067
Total assets	640,829	642,336
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current debt	16,433	16,916
Accounts payable	68,370	70,087
Accrued liabilities	39,792	49,281
Total current liabilities	124,595	136,284
Long-term debt, less current portion	61,005	58,117
Noncurrent operating lease liabilities	17,479	17,404
Deferred tax liabilities	7,256	8,307
Other noncurrent liabilities	8,905	6,860
Total liabilities	219,240	226,972
Commitments and contingencies (Note 9)
Common stock, $0.01 par value (200,000,000 shares authorized and 111,669,464 and 111,669,464 shares issued, respectively)	1,117	1,117
Paid-in capital	641,061	639,645
Accumulated other comprehensive loss	(65,374)	(62,839)
Retained earnings	18,137	10,773
Treasury stock, at cost (26,467,812 and 26,471,738 shares, respectively)	(173,352)	(173,332)
Total stockholders’ equity	421,589	415,364
Total liabilities and stockholders’ equity	$ 640,829	$ 642,336

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Revenues	$ 169,107	$ 200,030
Cost of revenues	134,587	164,738
Selling, general and administrative expenses	24,344	25,410
Other operating (income) loss, net	(1,683)	(261)
Operating income	11,859	10,143
Foreign currency exchange (gain) loss	(31)	319
Interest expense, net	1,750	2,089
Income before income taxes	10,140	7,735
Provision for income taxes	2,847	2,115
Net income	$ 7,293	$ 5,620
Net income per common share - basic (in dollars per share)	$ 0.09	$ 0.06
Net income per common share - diluted (in dollars per share)	$ 0.08	$ 0.06

Segment Data

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Segment Data

Summarized operating results for our reportable segments are shown in the following table (net of inter-segment transfers):


	First Quarter
(In thousands)	2024		2023
Revenues
Fluids Systems	$	120,140	$	144,174
Industrial Solutions	48,967		55,856
Total revenues	$	169,107	$	200,030

Operating income (loss)
Fluids Systems	$	6,836	$	3,466
Industrial Solutions	12,936		14,483
Corporate office	(7,913)		(7,806)
Total operating income	$	11,859	$	10,143

Operating results shown above include the following items:


	First Quarter
(In thousands)	2024		2023
Fluids sale process transaction expenses	$	313	$	—
Gain on insurance recovery	(807)		—
Facility exit costs and other, net	—		2,292
Severance costs	515		955
Total Fluids Systems	21		3,247
Gain on insurance recovery	(67)		—
Gain on legal settlement	(550)		—
Severance costs	518		—
Total Industrial Solutions	(99)		—
Fluids sale process transaction expenses	1,943		—
Severance costs	114		—
Total Corporate office	2,057		—

Total	$	1,979	$	3,247

The following table presents further disaggregated revenues for the Fluids Systems segment:


	First Quarter
(In thousands)	2024		2023
United States	$	30,477	$	68,898
Canada	21,223		19,365
Total North America	51,700		88,263

EMEA	62,555		52,577
Other	5,885		3,334
Total International	68,440		55,911

Total Fluids Systems revenues	$	120,140	$	144,174

The following table presents further disaggregated revenues for the Industrial Solutions segment:


	First Quarter
(In thousands)	2024		2023
Rental revenues	$	21,232	$	21,131
Service revenues	13,949		15,229
Product sales revenues	13,786		19,496
Total Industrial Solutions revenues	$	48,967	$	55,856

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Paragraph 21
-Subparagraph (b)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies Newpark Resources, Inc. is a geographically diversified supplier providing environmentally-sensitive products, as well as rentals and services to customers across multiple industries. The accompanying unaudited condensed consolidated financial statements of Newpark Resources, Inc. and our wholly-owned subsidiaries, which we collectively refer to as the “Company,” “we,” “our,” or “us,” have been prepared in accordance with Rule 10-01 of Regulation S-X for interim financial statements required to be filed with the Securities and Exchange Commission, and do not include all information and footnotes required by the accounting principles generally accepted in the United States (“U.S. GAAP”) for complete financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2023. Our fiscal year end is December 31 and our first quarter represents the three-month period ended March 31. The results of operations for the first quarter of 2024 are not necessarily indicative of the results to be expected for the entire year. Unless otherwise noted, all currency amounts are stated in U.S. dollars. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments necessary to present fairly our financial position as of March 31, 2024 and our results of operations and cash flows for the first quarter of 2024 and 2023. All adjustments are of a normal recurring nature. Our balance sheet at December 31, 2023 is derived from the audited consolidated financial statements at that date. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. For further information, see Note 1 in our Annual Report on Form 10-K for the year ended December 31, 2023. We currently operate our business through two reportable segments: Fluids Systems and Industrial Solutions. •Our Fluids Systems segment provides drilling and completion fluids products and related technical services to customers for oil, natural gas, and geothermal projects primarily in Europe, the Middle East and Africa (“EMEA”), North America, as well as certain countries in Asia Pacific. Over the past few years, our primary focus within the Fluids Systems segment has been the transformation into a more agile and simplified business focused on key markets, while monetizing assets in underperforming or sub-scale markets and reducing our invested capital, particularly in the U.S. In 2023, we exited our stimulation chemicals product line, certain operations for offshore Australia and our operations in Chile. In September 2023, we launched a formal sale process for substantially all the Fluids Systems business. See Note 2 for additional information. •Our Industrial Solutions segment provides temporary worksite access solutions, including the rental of our recyclable composite matting systems, along with related site construction and services to customers in various markets including power transmission, oil and natural gas exploration and production (“E&P”), pipeline, renewable energy, petrochemical, construction and other industries, primarily in the United States and United Kingdom. We also sell our manufactured recyclable composite mats to customers around the world, with power transmission being the primary end-market. New Accounting Pronouncements Standards Not Yet Adopted Segment Reporting. In November 2023, the Financial Accounting Standards Board (“FASB”) issued new guidance which is intended to improve reportable segment disclosure requirements through enhanced disclosures. The amendments require disclosure of significant segment expenses regularly provided to the chief operating decision maker (CODM) as well as other segment items, extend certain annual disclosures to interim periods, clarify the applicability to single reportable segment entities, permit more than one measure of profit or loss to be reported under certain conditions, and require disclosure of the title and position of the CODM. This guidance will be effective for us for the year ending December 31, 2024. We are currently evaluating the impact of the new guidance on our consolidated financial statements and related disclosures. Income Taxes: Improvements to Income Tax Disclosures. In December 2023, the FASB issued new guidance which is intended to enhance the transparency and decision usefulness of income tax disclosures. This guidance will be effective for us in the first quarter of 2025. We are currently evaluating the impact of the new guidance on our consolidated financial statements and related disclosures.

Segment Data (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of Operating Results for Reportable Segments

Summarized operating results for our reportable segments are shown in the following table (net of inter-segment transfers):


	First Quarter
(In thousands)	2024		2023
Revenues
Fluids Systems	$	120,140	$	144,174
Industrial Solutions	48,967		55,856
Total revenues	$	169,107	$	200,030

Operating income (loss)
Fluids Systems	$	6,836	$	3,466
Industrial Solutions	12,936		14,483
Corporate office	(7,913)		(7,806)
Total operating income	$	11,859	$	10,143

Schedule of Operating Results

Operating results shown above include the following items:


	First Quarter
(In thousands)	2024		2023
Fluids sale process transaction expenses	$	313	$	—
Gain on insurance recovery	(807)		—
Facility exit costs and other, net	—		2,292
Severance costs	515		955
Total Fluids Systems	21		3,247
Gain on insurance recovery	(67)		—
Gain on legal settlement	(550)		—
Severance costs	518		—
Total Industrial Solutions	(99)		—
Fluids sale process transaction expenses	1,943		—
Severance costs	114		—
Total Corporate office	2,057		—

Total	$	1,979	$	3,247

Schedule of Disaggregated Revenues, Geographic

The following table presents further disaggregated revenues for the Fluids Systems segment:


	First Quarter
(In thousands)	2024		2023
United States	$	30,477	$	68,898
Canada	21,223		19,365
Total North America	51,700		88,263

EMEA	62,555		52,577
Other	5,885		3,334
Total International	68,440		55,911

Total Fluids Systems revenues	$	120,140	$	144,174

Schedule of Disaggregated Revenues, Segments

The following table presents further disaggregated revenues for the Industrial Solutions segment:


	First Quarter
(In thousands)	2024		2023
Rental revenues	$	21,232	$	21,131
Service revenues	13,949		15,229
Product sales revenues	13,786		19,496
Total Industrial Solutions revenues	$	48,967	$	55,856

Supplemental Disclosures to the Statements of Cash Flows

3 Months Ended

Mar. 31, 2024

Supplemental Cash Flow Elements [Abstract]

Supplemental Disclosures to the Statements of Cash Flows

Supplemental disclosures to the consolidated statements of cash flows are presented below:


	First Quarter
(In thousands)	2024		2023
Cash paid for:
Income taxes (net of refunds)	$	2,960	$	2,261
Interest	$	1,615	$	1,998

Cash, cash equivalents, and restricted cash in the consolidated statements of cash flows consisted of the following:


(In thousands)	March 31, 2024		December 31, 2023
Cash and cash equivalents	$	37,695	$	38,594
Restricted cash (included in prepaid expenses and other current assets)	245		307
Cash, cash equivalents, and restricted cash	$	37,940	$	38,901

Financing Arrangements and Fair Value of Financial Instruments - Schedule of Financing Arrangements (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Principal Amount	$ 77,484	$ 75,093
Unamortized Discount and Debt Issuance Costs	(46)	(60)
Total Debt	77,438	75,033
Less: current portion
Principal Amount	(16,433)	(16,916)
Unamortized Discount and Debt Issuance Costs	0	0
Total Debt	(16,433)	(16,916)
Long-term debt
Principal Amount	61,051	58,177
Unamortized Discount and Debt Issuance Costs	(46)	(60)
Total Debt	61,005	58,117
Finance leases
Debt Instrument [Line Items]
Principal Amount	11,251	9,899
Unamortized Discount and Debt Issuance Costs	0	0
Total Debt	11,251	9,899
Other debt
Debt Instrument [Line Items]
Principal Amount	1,261	3,007
Unamortized Discount and Debt Issuance Costs	(8)	(11)
Total Debt	1,253	2,996
Revolving credit facility \| Amended ABL Facility
Debt Instrument [Line Items]
Principal Amount	48,000	45,000
Unamortized Discount and Debt Issuance Costs	0	0
Total Debt	48,000	45,000
Revolving credit facility \| Foreign subsidiary facilities
Debt Instrument [Line Items]
Principal Amount	11,670	11,394
Unamortized Discount and Debt Issuance Costs	0	0
Total Debt	11,670	11,394
Revolving credit facility \| U.K. term loan
Debt Instrument [Line Items]
Principal Amount	5,302	5,793
Unamortized Discount and Debt Issuance Costs	(38)	(49)
Total Debt	$ 5,264	$ 5,744

Financing Arrangements and Fair Value of Financial Instruments - Narrative (Details)	1 Months Ended		3 Months Ended
	May 31, 2022 USD ($)	Apr. 30, 2022 GBP (£)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)
Debt Instrument [Line Items]
Borrowings on lines of credit			$ 52,561,000	$ 76,447,000
Letters of credit outstanding, amount			40,200,000
Restricted cash and cash equivalents, current			200,000
U.K. term loan \| Secured Debt \| U.K. Subsidiary
Debt Instrument [Line Items]
Debt instrument, face amount \| £		£ 7,000,000
Quarterly principal payment \| £		350,000
Balloon payment \| £		2,800,000
Finance leases
Debt Instrument [Line Items]
New finance lease liabilities in exchange for leased assets			$ 2,200,000
Revolving credit facility \| U.K. Subsidiary
Debt Instrument [Line Items]
Maximum borrowing capacity \| £		£ 2,000,000
Interest rate, stated percentage			8.40%
Revolving credit facility \| SONIA member \| U.K. Subsidiary
Debt Instrument [Line Items]
Basis spread on variable rate		3.25%
Revolving credit facility \| Amended ABL Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 175,000,000		$ 110,000,000
Maximum borrowing capacity, option to increase	$ 250,000,000
Debt instrument, term	5 years
Borrowings on lines of credit			48,000,000
Letters of credit outstanding, amount			4,000,000
Remaining borrowing capacity			$ 58,000,000
Unused capacity, commitment fee percentage	0.375%		0.375%
Threshold for commitment fee	50.00%
Average daily unused portion, commitment fee	0.25%
Weighted average interest rate			6.90%
Fixed charge coverage ratio	1.00
Line of credit facility, covenant, minimum, fixed charge leverage ratio	4.00
Revolving credit facility \| Amended ABL Facility \| Fed Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Revolving credit facility \| Amended ABL Facility \| BSBY
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%		1.50%
Revolving credit facility \| Amended ABL Facility \| BSBY \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Revolving credit facility \| Amended ABL Facility \| BSBY \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
Revolving credit facility \| Amended ABL Facility \| Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate			0.50%
Revolving credit facility \| Amended ABL Facility \| Base Rate \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Revolving credit facility \| Amended ABL Facility \| Base Rate \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%

Earnings Per Share - Antidilutive Securities Excluded from Computation of EPS (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Stock options and restricted stock awards (in shares)	494	737

Financing Arrangements and Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Financing Arrangements

Financing arrangements consisted of the following:


	March 31, 2024						December 31, 2023
(In thousands)	Principal Amount		Unamortized Discount and Debt Issuance Costs		Total Debt		Principal Amount		Unamortized Discount and Debt Issuance Costs		Total Debt
Amended ABL Facility	$	48,000	$	—	$	48,000	$	45,000	$	—	$	45,000
Foreign subsidiary facilities	11,670		—		11,670		11,394		—		11,394
Finance leases	11,251		—		11,251		9,899		—		9,899
U.K. term loan	5,302		(38)		5,264		5,793		(49)		5,744
Other debt	1,261		(8)		1,253		3,007		(11)		2,996
Total debt	77,484		(46)		77,438		75,093		(60)		75,033
Less: current portion	(16,433)		—		(16,433)		(16,916)		—		(16,916)
Long-term debt	$	61,051	$	(46)	$	61,005	$	58,177	$	(60)	$	58,117

Segment Data - Disaggregated Revenues, Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 169,107	$ 200,030
Industrial Solutions
Disaggregation of Revenue [Line Items]
Revenues	48,967	55,856
Industrial Solutions \| Rental revenues
Disaggregation of Revenue [Line Items]
Revenues	21,232	21,131
Industrial Solutions \| Service revenues
Disaggregation of Revenue [Line Items]
Revenues	13,949	15,229
Industrial Solutions \| Product sales revenues
Disaggregation of Revenue [Line Items]
Revenues	$ 13,786	$ 19,496

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 22
-Subparagraph (b)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Paragraph 32
-Subparagraph (b)
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 41
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 2,847	$ 2,115
Effective income tax rate	28.00%	27.00%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Financing Arrangements and Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Financing Arrangements and Fair Value of Financial Instruments

Financing arrangements consisted of the following:


	March 31, 2024						December 31, 2023
(In thousands)	Principal Amount		Unamortized Discount and Debt Issuance Costs		Total Debt		Principal Amount		Unamortized Discount and Debt Issuance Costs		Total Debt
Amended ABL Facility	$	48,000	$	—	$	48,000	$	45,000	$	—	$	45,000
Foreign subsidiary facilities	11,670		—		11,670		11,394		—		11,394
Finance leases	11,251		—		11,251		9,899		—		9,899
U.K. term loan	5,302		(38)		5,264		5,793		(49)		5,744
Other debt	1,261		(8)		1,253		3,007		(11)		2,996
Total debt	77,484		(46)		77,438		75,093		(60)		75,033
Less: current portion	(16,433)		—		(16,433)		(16,916)		—		(16,916)
Long-term debt	$	61,051	$	(46)	$	61,005	$	58,177	$	(60)	$	58,117

Asset-Based Loan Facility. In October 2017, we entered into a U.S. asset-based revolving credit agreement, which was amended in March 2019 and amended and restated in May 2022 (the “Amended ABL Facility”). The Amended ABL Facility provides financing of up to $175.0 million available for borrowings (inclusive of letters of credit), which can be increased up to $250.0 million, subject to certain conditions. The Amended ABL Facility has a five-year term expiring May 2027, is based on a Bloomberg Short-Term Bank Yield Index (“BSBY”) pricing grid, and includes a mechanism to incorporate a sustainability-linked pricing framework with the consent of the required lenders (as defined in the Amended ABL Facility).

As of March 31, 2024, our total availability under the Amended ABL Facility was $110.0 million, of which $48.0 million was drawn and $4.0 million was used for outstanding letters of credit, resulting in remaining availability of $58.0 million.

Borrowing availability under the Amended ABL Facility is calculated based on eligible U.S. accounts receivable, inventory and composite mats included in the rental fleet, net of reserves and subject to limits on certain of the assets included in the borrowing base calculation. To the extent pledged by the borrowers, the borrowing base calculation also includes the amount of eligible pledged cash. The administrative agent may establish reserves in accordance with the Amended ABL Facility, in part based on appraisals of the asset base, and other limits in its discretion, which could reduce the amounts otherwise available under the Amended ABL Facility.

Under the terms of the Amended ABL Facility, we may elect to borrow at a variable interest rate based on either, (1) the BSBY rate (subject to a floor of zero) or (2) the base rate (subject to a floor of zero), equal to the highest of (a) the federal funds rate plus 0.50%, (b) the prime rate of Bank of America, N.A., and (c) BSBY for a one-month interest period plus 1.00%, plus, in each case, an applicable margin per annum. The applicable margin ranges from 1.50% to 2.00% per annum for BSBY borrowings, and 0.50% to 1.00% per annum for base rate borrowings, based on the consolidated leverage ratio (as defined in the Amended ABL Facility) as of the last day of the most recent fiscal quarter. We are also required to pay a commitment fee equal to (i) 0.375% per annum at any time the average daily unused portion of the commitments is greater than 50% and (ii) 0.25% per annum at any time the average daily unused portion of the commitments is less than 50%.

As of March 31, 2024, the applicable margin for borrowings under the Amended ABL Facility was 1.50% with respect to BSBY borrowings and 0.50% with respect to base rate borrowings. As of March 31, 2024, the weighted average interest rate for the Amended ABL Facility was 6.9% and the applicable commitment fee on the unused portion of the Amended ABL Facility was 0.375% per annum.

The Amended ABL Facility is a senior secured obligation of the Company and certain of our U.S. subsidiaries constituting borrowers thereunder, secured by a first priority lien on substantially all of the personal property and certain real property of the borrowers, including a first priority lien on certain equity interests of direct or indirect domestic subsidiaries of the borrowers and certain equity interests issued by certain foreign subsidiaries of the borrowers.

The Amended ABL Facility contains customary representations, warranties and covenants that, among other things, and subject to certain specified circumstances and exceptions, restrict or limit the ability of the borrowers and certain of their subsidiaries to incur indebtedness (including guarantees), grant liens, make investments, pay dividends or distributions with respect to capital stock and make other restricted payments, make prepayments on certain indebtedness, engage in mergers or other fundamental changes, dispose of property, and change the nature of their business.

The Amended ABL Facility requires compliance with the following financial covenants: (i) a minimum fixed charge coverage ratio of 1.00 to 1.00 for the most recently completed four fiscal quarters and (ii) while a leverage covenant trigger period (as defined in the Amended ABL Facility) is in effect, a maximum consolidated leverage ratio of 4.00 to 1.00 as of the last day of the most recently completed fiscal quarter.

The Amended ABL Facility includes customary events of default including non-payment of principal, interest or fees, violation of covenants, inaccuracy of representations or warranties, cross-default to other material indebtedness, bankruptcy and insolvency events, invalidity or impairment of security interests or invalidity of loan documents, certain ERISA events, unsatisfied or unstayed judgments and change of control.

Other Financing Arrangements. Certain of our foreign subsidiaries maintain local credit arrangements consisting primarily of lines of credit or overdraft facilities which are generally renewed on an annual basis. We utilize local financing arrangements in our foreign operations in order to provide short-term local liquidity needs. In addition, in April 2022, a U.K. subsidiary entered a £7.0 million term loan and a £2.0 million revolving credit facility. Both the term loan and revolving credit facility mature in April 2025 and bear interest at a rate of Sterling Overnight Index Average plus a margin of 3.25% per year. As of March 31, 2024, the interest rate for the U.K. facilities was 8.4%. The term loan is payable in quarterly installments of £350,000 plus interest beginning June 2022 and a £2.8 million payment due at maturity. We also maintain finance leases primarily related to transportation equipment. During the first quarter of 2024, we entered into $2.2 million of new finance lease liabilities in exchange for leased assets.

In addition, at March 31, 2024, we had $40.2 million in outstanding letters of credit, performance bonds, and other guarantees for which certain of the letters of credit are collateralized by $0.2 million in restricted cash.

Our financial instruments include cash and cash equivalents, receivables, payables, and debt. We believe the carrying values of these instruments approximated their fair values at March 31, 2024 and December 31, 2023.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
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-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Receivables - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Receivables [Abstract]
Other receivables, value added taxes	$ 4.2	$ 3.6
Insurance receivable balance	$ 1.4

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Schedule of Reconciliation of the Numerator and Denominator for Calculating Net Loss Per Share

The following table presents the reconciliation of the numerator and denominator for calculating net income per share:


	First Quarter
(In thousands, except per share data)		2024		2023
Numerator
Net income - basic and diluted		$	7,293	$	5,620

Denominator
Weighted average common shares outstanding - basic		85,001		88,573
Dilutive effect of stock options and restricted stock awards		2,244		1,997
Weighted average common shares outstanding - diluted		87,245		90,570

Net income per common share
Basic		$	0.09	$	0.06
Diluted		$	0.08	$	0.06

Schedule of Weighted-average Potential Shares Excluded from Diluted Net Income Per Share

We excluded the following weighted-average potential shares from the calculations of diluted net income per share during the applicable periods because their inclusion would have been anti-dilutive:


	First Quarter
(In thousands)		2024	2023
Stock options and restricted stock awards		494	737

Supplemental Disclosures to the Statements of Cash Flows - Supplemental Disclosures of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash paid for:
Income taxes (net of refunds)	$ 2,960	$ 2,261
Interest	$ 1,615	$ 1,998

Receivables - Changes in Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 4,751	$ 4,817
Credit loss expense	137	272
Write-offs, net of recoveries	(35)	(89)
Balance at end of period	$ 4,853	$ 5,000

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net income	$ 7,293	$ 5,620
Adjustments to reconcile net income to net cash provided by operations:
Depreciation and amortization	7,411	7,895
Stock-based compensation expense	1,495	1,738
Provision for deferred income taxes	(1,551)	(726)
Credit loss expense	137	272
Gain on sale of assets	(390)	(554)
Gain on insurance recovery	(874)	0
Amortization of original issue discount and debt issuance costs	131	138
Change in assets and liabilities:
(Increase) decrease in receivables	(3,140)	27,287
(Increase) decrease in inventories	8,250	(3,870)
Decrease in other assets	39	1,098
Decrease in accounts payable	(306)	(1,233)
Decrease in accrued liabilities and other	(6,545)	(8,221)
Net cash provided by operating activities	11,950	29,444
Cash flows from investing activities:
Capital expenditures	(13,882)	(6,972)
Proceeds from divestitures	0	7,153
Proceeds from sale of property, plant and equipment	1,143	740
Net cash provided by (used in) investing activities	(12,739)	921
Cash flows from financing activities:
Borrowings on lines of credit	52,561	76,447
Payments on lines of credit	(48,633)	(90,212)
Purchases of treasury stock	0	(15,006)
Proceeds from employee stock plans	17	0
Other financing activities	(3,356)	(1,499)
Net cash provided by (used in) financing activities	589	(30,270)
Effect of exchange rate changes on cash	(761)	375
Net increase (decrease) in cash, cash equivalents, and restricted cash	(961)	470
Cash, cash equivalents, and restricted cash at beginning of period	38,901	25,061
Cash, cash equivalents, and restricted cash at end of period	$ 37,940	$ 25,531

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax benefit	$ 81	$ 10

Receivables (Tables)

3 Months Ended

Mar. 31, 2024

Receivables [Abstract]

Schedule of Accounts Receivable

Receivables consisted of the following:


(In thousands)	March 31, 2024		December 31, 2023
Trade receivables:
Gross trade receivables	$	164,962	$	164,292
Allowance for credit losses	(4,853)		(4,751)
Net trade receivables	160,109		159,541
Income tax receivables	2,532		2,984
Other receivables	7,082		5,932
Total receivables, net	$	169,723	$	168,457

Schedule of Changes in Our Allowance for Credit Losses

Changes in our allowance for credit losses were as follows:


	First Quarter
(In thousands)	2024		2023
Balance at beginning of period	$	4,751	$	4,817
Credit loss expense	137		272
Write-offs, net of recoveries	(35)		(89)
Balance at end of period	$	4,853	$	5,000

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 7,293	$ 5,620
Foreign currency translation adjustments (net of tax benefit of $81 and $10)	(2,535)	1,999
Comprehensive income	$ 4,758	$ 7,619

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Supplemental Disclosures to the Statements of Cash Flows - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 37,695	$ 38,594
Restricted cash (included in prepaid expenses and other current assets)	245	307
Cash, cash equivalents, and restricted cash	$ 37,940	$ 38,901	$ 25,531	$ 25,061

Earnings Per Share

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Earnings Per Share

The following table presents the reconciliation of the numerator and denominator for calculating net income per share:


	First Quarter
(In thousands, except per share data)		2024		2023
Numerator
Net income - basic and diluted		$	7,293	$	5,620

Denominator
Weighted average common shares outstanding - basic		85,001		88,573
Dilutive effect of stock options and restricted stock awards		2,244		1,997
Weighted average common shares outstanding - diluted		87,245		90,570

Net income per common share
Basic		$	0.09	$	0.06
Diluted		$	0.08	$	0.06

We excluded the following weighted-average potential shares from the calculations of diluted net income per share during the applicable periods because their inclusion would have been anti-dilutive:


	First Quarter
(In thousands)		2024	2023
Stock options and restricted stock awards		494	737

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe provision for income taxes was $2.8 million for the first quarter of 2024, reflecting an effective tax rate of 28%, compared to income taxes of $2.1 million for the first quarter of 2023, reflecting an effective tax rate of 27%. The provision for income taxes for the first quarter of 2024 and 2023 primarily reflects income taxes associated with our international operations, as the tax provision associated with U.S. income is largely offset by the partial valuation allowance release associated with previously unbenefited U.S. net operating losses.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Segment Data - Segment and Other Charges (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Gain on insurance recovery	$ (874)	$ 0
Gain on legal settlement	(600)
Total	1,979	3,247
Operating segments \| Fluids Systems
Segment Reporting Information [Line Items]
Fluids sale process transaction expenses	313	0
Gain on insurance recovery	(807)	0
Facility exit costs and other, net	0	2,292
Severance costs	515	955
Total	21	3,247
Operating segments \| Industrial Solutions
Segment Reporting Information [Line Items]
Gain on insurance recovery	(67)	0
Gain on legal settlement	(550)	0
Severance costs	518	0
Total	(99)	0
Corporate office
Segment Reporting Information [Line Items]
Fluids sale process transaction expenses	1,943	0
Severance costs	114	0
Total	$ 2,057	$ 0

Segment Data - Disaggregated Revenues, Geographic (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 169,107	$ 200,030
Fluids Systems
Disaggregation of Revenue [Line Items]
Revenues	120,140	144,174
Fluids Systems \| Total North America
Disaggregation of Revenue [Line Items]
Revenues	51,700	88,263
Fluids Systems \| United States
Disaggregation of Revenue [Line Items]
Revenues	30,477	68,898
Fluids Systems \| Canada
Disaggregation of Revenue [Line Items]
Revenues	21,223	19,365
Fluids Systems \| Total International
Disaggregation of Revenue [Line Items]
Revenues	68,440	55,911
Fluids Systems \| EMEA
Disaggregation of Revenue [Line Items]
Revenues	62,555	52,577
Fluids Systems \| Other
Disaggregation of Revenue [Line Items]
Revenues	$ 5,885	$ 3,334

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

+ References

+ Details

Supplemental Disclosures to the Statements of Cash Flows (Tables)

3 Months Ended

Mar. 31, 2024

Supplemental Cash Flow Elements [Abstract]

Schedule of Supplemental Disclosures of Cash Flows

Supplemental disclosures to the consolidated statements of cash flows are presented below:


	First Quarter
(In thousands)	2024		2023
Cash paid for:
Income taxes (net of refunds)	$	2,960	$	2,261
Interest	$	1,615	$	1,998

Schedule of Cash and Cash Equivalents

Cash, cash equivalents, and restricted cash in the consolidated statements of cash flows consisted of the following:


(In thousands)	March 31, 2024		December 31, 2023
Cash and cash equivalents	$	37,695	$	38,594
Restricted cash (included in prepaid expenses and other current assets)	245		307
Cash, cash equivalents, and restricted cash	$	37,940	$	38,901

Schedule of Restricted Cash

Cash, cash equivalents, and restricted cash in the consolidated statements of cash flows consisted of the following:


(In thousands)	March 31, 2024		December 31, 2023
Cash and cash equivalents	$	37,695	$	38,594
Restricted cash (included in prepaid expenses and other current assets)	245		307
Cash, cash equivalents, and restricted cash	$	37,940	$	38,901

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Segment Data - Operating Results for Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues
Total revenues	$ 169,107	$ 200,030
Operating income (loss)
Total operating income	11,859	10,143
Fluids Systems
Revenues
Total revenues	120,140	144,174
Industrial Solutions
Revenues
Total revenues	48,967	55,856
Operating segments \| Fluids Systems
Revenues
Total revenues	120,140	144,174
Operating income (loss)
Total operating income	6,836	3,466
Operating segments \| Industrial Solutions
Revenues
Total revenues	48,967	55,856
Operating income (loss)
Total operating income	12,936	14,483
Corporate office
Operating income (loss)
Total operating income	$ (7,913)	$ (7,806)

- Definition

+ References

+ Details

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the ordinary course of conducting our business, we become involved in litigation and other claims from private party actions, as well as judicial and administrative proceedings involving governmental authorities at the federal, state, and local levels. While the outcome of litigation or other proceedings against us cannot be predicted with certainty, management does not expect that any loss resulting from such litigation or other proceedings, in excess of any amounts accrued or covered by insurance, will have a material adverse impact on our consolidated financial statements. The first quarter of 2024 includes a $0.9 million gain related to the final insurance settlement associated with Hurricane Ida in August 2021, as well as a $0.6 million gain related to a legal settlement.

Receivables - Receivables (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Trade receivables:
Gross trade receivables	$ 164,962	$ 164,292
Allowance for credit losses	(4,853)	(4,751)	$ (5,000)	$ (4,817)
Net trade receivables	160,109	159,541
Income tax receivables	2,532	2,984
Other receivables	7,082	5,932
Total receivables, net	$ 169,723	$ 168,457

Receivables

3 Months Ended

Mar. 31, 2024

Receivables [Abstract]

Receivables

Receivables consisted of the following:


(In thousands)	March 31, 2024		December 31, 2023
Trade receivables:
Gross trade receivables	$	164,962	$	164,292
Allowance for credit losses	(4,853)		(4,751)
Net trade receivables	160,109		159,541
Income tax receivables	2,532		2,984
Other receivables	7,082		5,932
Total receivables, net	$	169,723	$	168,457

Other receivables included $4.2 million and $3.6 million for value added, goods and service taxes related to foreign jurisdictions as of March 31, 2024 and December 31, 2023, respectively. In addition, other receivables included an insurance receivable balance of $1.4 million as of March 31, 2024.

Changes in our allowance for credit losses were as follows:


	First Quarter
(In thousands)	2024		2023
Balance at beginning of period	$	4,751	$	4,817
Credit loss expense	137		272
Write-offs, net of recoveries	(35)		(89)
Balance at end of period	$	4,853	$	5,000

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2024	May 01, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-02960
Entity Registrant Name	Newpark Resources, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	72-1123385
Entity Address, Address Line One	9320 Lakeside Boulevard,
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	The Woodlands,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77381
City Area Code	281
Local Phone Number	362-6800
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	NR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		85,201,652
Entity Central Index Key	0000071829
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false