Core Laboratories 10-Q 25 Jul 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Jul. 19, 2024
Cover [Abstract]
Entity Registrant Name	CORE LABORATORIES INC.
Entity Central Index Key	0001958086
Trading Symbol	CLB
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		46,912,971
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity File Number	001-41695
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	6316 Windfern Road
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77040
City Area Code	713
Local Phone Number	328-2673
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock (par value $0.01)
Security Exchange Name	NYSE
Entity Tax Identification Number	98-1164194

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 17,695	$ 15,120
Accounts receivable, net of allowance for credit losses of $2,690 and $2,280 at 2024 and 2023, respectively	115,644	109,352
Inventories	69,898	71,702
Prepaid expenses	9,863	8,153
Income taxes receivable	15,087	13,716
Other current assets	5,341	5,093
TOTAL CURRENT ASSETS	233,528	223,136
PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation of $317,654 and $315,796 at 2024 and 2023, respectively	98,510	99,626
RIGHT OF USE ASSETS	55,689	53,842
INTANGIBLES, net of accumulated amortization and impairment of $19,078 and $18,825 at 2024 and 2023, respectively	6,674	6,926
GOODWILL	99,445	99,445
DEFERRED TAX ASSETS, net	70,531	69,201
OTHER ASSETS	33,422	34,219
TOTAL ASSETS	597,799	586,395
CURRENT LIABILITIES:
Accounts payable	36,863	33,506
Accrued payroll and related costs	21,972	18,791
Taxes other than payroll and income	4,957	5,939
Unearned revenues	5,500	4,755
Operating lease liabilities	11,045	10,175
Income taxes payable	8,240	7,280
Other current liabilities	9,021	7,651
TOTAL CURRENT LIABILITIES	97,598	88,097
LONG-TERM DEBT, net	147,621	163,134
LONG-TERM OPERATING LEASE LIABILITIES	42,616	42,076
DEFERRED COMPENSATION	30,678	30,544
DEFERRED TAX LIABILITIES, net	13,250	12,697
OTHER LONG-TERM LIABILITIES	20,342	20,040
COMMITMENTS AND CONTINGENCIES
EQUITY:
Preference stock, 6,000,000 shares authorized, $0.01 par value; none issued or outstanding	0	0
Common stock, 200,000,000 shares authorized, $0.01 par value, issued and outstanding at 2024; 46,938,557 issued and 46,856,536 outstanding at 2023	469	469
Additional paid-in capital	113,479	110,011
Retained earnings	132,070	120,756
Accumulated other comprehensive income (loss)	(5,309)	(4,972)
Treasury stock (at cost), 25,862 and 82,021 shares at 2024 and 2023, respectively	(435)	(1,449)
Total Core Laboratories Inc. shareholders' equity	240,274	224,815
Non-controlling interest	5,420	4,992
TOTAL EQUITY	245,694	229,807
TOTAL LIABILITIES AND EQUITY	$ 597,799	$ 586,395

Consolidated Balance Sheets Par

Consolidated Balance Sheets Parenthetical - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 2,690	$ 2,280
Accumulated Depreciation	317,654	315,796
Accumulated amortization	$ 19,078	$ 18,825
Preferred stock, par value per share	$ 0.01	$ 0.01
Preferred stock, shares authorized	6,000,000	6,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value per share	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares, issued	46,938,557	46,938,557
Common shares, outstanding	46,912,695	46,856,536
Treasury stock (at cost)	25,862	82,021

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
REVENUES:
Revenue	$ 130,577	$ 127,881	$ 260,214	$ 256,237
OPERATING EXPENSES:
General and administrative expense, exclusive of depreciation expense shown below	10,259	5,811	22,048	22,142
Depreciation	3,643	3,807	7,358	7,746
Amortization	127	130	255	235
Other (income) expense, net	(2,390)	(1,068)	(1,544)	(1,096)
OPERATING INCOME	16,008	18,906	24,579	25,387
Interest expense	3,209	3,236	6,632	6,665
Income before income taxes	12,799	15,670	17,947	18,722
Income tax expense (benefit)	3,609	(7,259)	5,267	(6,649)
Net income	9,190	22,929	12,680	25,371
Net income attributable to non-controlling interest	158	83	428	152
Net income attributable to Core Laboratories Inc.	$ 9,032	$ 22,846	$ 12,252	$ 25,219
EARNINGS PER SHARE INFORMATION:
Basic earnings per share	$ 0.2	$ 0.49	$ 0.27	$ 0.54
Basic earnings per share attributable to Core Laboratories Inc.	0.19	0.49	0.26	0.54
Diluted earnings per share	0.19	0.48	0.26	0.53
Diluted earnings per share attributable to Core Laboratories Inc.	$ 0.19	$ 0.48	$ 0.26	$ 0.53
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic	46,908	46,675	46,884	46,655
Diluted	47,743	47,497	47,662	47,476
Service [Member]
REVENUES:
Revenue	$ 96,337	$ 93,265	$ 192,832	$ 184,341
OPERATING EXPENSES:
Cost of services and product sales exclusive of depreciation expense shown below	74,823	71,121	148,688	142,055
Product [Member]
REVENUES:
Revenue	34,240	34,616	67,382	71,896
OPERATING EXPENSES:
Cost of services and product sales exclusive of depreciation expense shown below	$ 28,107	$ 29,174	$ 58,830	$ 59,768

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 9,190	$ 22,929	$ 12,680	$ 25,371
Interest rate swap amount reclassified to net income (loss)	(248)	(38)	(545)	228
Income tax (expense) benefit on interest rate swaps reclassified to net income (loss)	52	8	114	(48)
Total interest rate swaps	(196)	(30)	(431)	180
Amortization of actuarial gain (loss) reclassified to net income	64	39	128	78
Income tax (expense) benefit on pension and other postretirement benefit plans reclassified to net income (loss)	(17)	(10)	(34)	(20)
Total pension and other postretirement benefit plans	47	29	94	58
Total other comprehensive income (loss)	(149)	(1)	(337)	238
Comprehensive income	9,041	22,928	12,343	25,609
Comprehensive income attributable to non-controlling interest	158	83	428	152
Comprehensive income attributable to Core Laboratories Inc.	$ 8,883	$ 22,845	$ 11,915	$ 25,457

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Common Shares [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]	Non-Controlling Interest [Member]	Common Stock Outstanding [Member]
Balance at Beginning of Period at Dec. 31, 2022	$ 188,954	$ 1,194	$ 102,254	$ 85,949	$ (3,777)	$ (1,362)	$ 4,696
Balance at Beginning of Period at Dec. 31, 2022		46,699,102				(67,168)		46,631,934
New share issuance	0	$ 0	0
New share issuance (shares)		2,000						2,000
Change in par value		$ (727)
Change in par value and equity related transactions	(4,162)		(3,435)
Stock-based compensation	10,337		9,211			$ 1,126
Stock-based compensation (shares)						55,545		55,545
Repurchase of common stock	(200)					$ (200)
Repurchase of common stock (shares)						(9,070)		(9,070)
Dividends paid	(934)			(934)
Pension and other postretirement benefit plans, net of income taxes	58				58
Interest rate swaps, net of income taxes	180				180
Net income	25,371			25,219			152
Balance at End of Period at Jun. 30, 2023	$ 219,604	$ 467	108,030	110,234	(3,539)	$ (436)	4,848
Balance at End of Period at Jun. 30, 2023		46,701,102				(20,693)		46,680,409
Cash Dividends per Share	$ 0.02
Balance at Beginning of Period at Mar. 31, 2023	$ 200,151	$ 1,194	111,235	87,855	(3,538)	$ (1,360)	4,765
Balance at Beginning of Period at Mar. 31, 2023		46,701,102				(67,075)		46,634,027
New share issuance	0	$ 0	0
New share issuance (shares)		0						0
Change in par value		$ (727)
Change in par value and equity related transactions	(4,162)		(3,435)
Stock-based compensation	1,353		230			$ 1,123
Stock-based compensation (shares)						55,395		55,395
Repurchase of common stock	(199)					$ (199)
Repurchase of common stock (shares)						(9,013)		(9,013)
Dividends paid	(467)			(467)
Pension and other postretirement benefit plans, net of income taxes	29				29
Interest rate swaps, net of income taxes	(30)				(30)
Net income	22,929			22,846			83
Balance at End of Period at Jun. 30, 2023	$ 219,604	$ 467	108,030	110,234	(3,539)	$ (436)	4,848
Balance at End of Period at Jun. 30, 2023		46,701,102				(20,693)		46,680,409
Cash Dividends per Share	$ 0.01
Balance at Beginning of Period at Dec. 31, 2023	$ 229,807	$ 469	110,011	120,756	(4,972)	$ (1,449)	4,992
Balance at Beginning of Period at Dec. 31, 2023		46,938,557				(82,021)		46,856,536
Balance at End of Period at Mar. 31, 2024	$ 237,417	$ 469	114,642	123,508	(5,160)	$ (1,304)	5,262
Balance at End of Period at Mar. 31, 2024		46,938,557				(74,191)		46,864,366
Cash Dividends per Share	$ 0.01
Balance at Beginning of Period at Dec. 31, 2023	$ 229,807	$ 469	110,011	120,756	(4,972)	$ (1,449)	4,992
Balance at Beginning of Period at Dec. 31, 2023		46,938,557				(82,021)		46,856,536
New share issuance	0	$ 0	0
New share issuance (shares)		0						0
Change in par value		$ 0
Change in par value and equity related transactions	0		0
Stock-based compensation	4,688		3,468			$ 1,220
Stock-based compensation (shares)						69,071		69,071
Repurchase of common stock	$ (206)					$ (206)
Repurchase of common stock (shares)	12,912					(12,912)		(12,912)
Dividends paid	$ (938)			(938)
Pension and other postretirement benefit plans, net of income taxes	94				94
Interest rate swaps, net of income taxes	(431)				(431)
Net income	12,680			12,252			428
Balance at End of Period at Jun. 30, 2024	$ 245,694	$ 469	113,479	132,070	(5,309)	$ (435)	5,420
Balance at End of Period at Jun. 30, 2024		46,938,557				(25,862)		46,912,695
Cash Dividends per Share	$ 0.02
Balance at Beginning of Period at Mar. 31, 2024	$ 237,417	$ 469	114,642	123,508	(5,160)	$ (1,304)	5,262
Balance at Beginning of Period at Mar. 31, 2024		46,938,557				(74,191)		46,864,366
New share issuance	0	$ 0	0
New share issuance (shares)		0						0
Change in par value		$ 0
Change in par value and equity related transactions	0		0
Stock-based compensation	(132)		(1,163)			$ 1,031
Stock-based compensation (shares)						58,396		58,396
Repurchase of common stock	$ (162)					$ (162)
Repurchase of common stock (shares)	10,067					(10,067)		(10,067)
Dividends paid	$ (470)			(470)
Pension and other postretirement benefit plans, net of income taxes	47				47
Interest rate swaps, net of income taxes	(196)				(196)
Net income	9,190			9,032			158
Balance at End of Period at Jun. 30, 2024	$ 245,694	$ 469	$ 113,479	$ 132,070	$ (5,309)	$ (435)	$ 5,420
Balance at End of Period at Jun. 30, 2024		46,938,557				(25,862)		46,912,695
Cash Dividends per Share	$ 0.01

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 12,680	$ 25,371
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Stock-based compensation	4,688	10,337
Depreciation and amortization	7,613	7,981
Assets write-down	1,110	1,015
Changes in value of life insurance policies	(2,185)	(3,989)
Deferred income taxes	(777)	(10,949)
Other non-cash items	445	(484)
Changes in assets and liabilities:
Accounts receivable	(7,019)	(103)
Inventories	1,804	(11,213)
Prepaid expenses and other current assets	(3,976)	(2,532)
Other assets	306	1,579
Accounts payable	3,116	(8,685)
Accrued expenses	4,100	1,131
Unearned revenues	745	(403)
Other liabilities	26	(3,484)
Net cash provided by (used in) operating activities	22,676	5,572
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(5,918)	(4,382)
Patents and other intangibles	(3)	(164)
Proceeds from sale of assets	801	353
Net proceeds on life insurance policies	2,776	3,375
Net cash provided by (used in) investing activities	(2,344)	(818)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of long-term debt	(38,000)	(101,000)
Proceeds from long-term debt	22,000	111,000
Dividends paid	(938)	(934)
Repurchase of common stock	(206)	(200)
Equity related transaction costs	(594)	(2,553)
Other financing activities	(19)	(291)
Net cash provided by (used in) financing activities	(17,757)	6,022
NET CHANGE IN CASH AND CASH EQUIVALENTS	2,575	10,776
CASH AND CASH EQUIVALENTS, beginning of period	15,120	15,428
CASH AND CASH EQUIVALENTS, end of period	17,695	26,204
Supplemental disclosures of cash flow information:
Cash payments for interest	5,799	5,187
Cash payments for income taxes	6,210	4,694
Non-cash investing and financing activities:
Capital expenditures incurred but not paid for as of the end of the period	1,358	1,479
Equity related transaction costs incurred but not paid for as of the end of the period	$ 162	$ 1,609

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 9,032	$ 22,846	$ 12,252	$ 25,219

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Jun. 30, 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
Rule 10b5-1 Arrangement Modified	false
Non-Rule 10b5-1 Arrangement Modified	false

Description of Business

Description of Business	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	1. DESCRIPTION OF BUSINESS References to “Core Lab”, “Core Laboratories”, the “Company”, “we”, “our” and similar phrases are used throughout this Quarterly Report on Form 10-Q (“Quarterly Report”) and relate collectively to Core Laboratories Inc. and its consolidated subsidiaries. We operate our business in two segments: (1) Reservoir Description and (2) Production Enhancement. These complementary operating segments provide different services and products and utilize different technologies for evaluating and improving reservoir performance and increasing oil and gas recovery from new and existing fields. For a description of the types of services and products offered by these operating segments, see Note 16 - S egment Reporting .

Significant Accounting Policies

Significant Accounting Policies Update	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Significant Accounting Policies Update	2. SIGNIFICANT ACCOUNTING POLICIES UPDATE Basis of Presentation and Principles of Consolidation On May 1, 2023, Core Laboratories N.V. completed its previously announced redomestication transaction (the “Redomestication Transaction”) which through a series of steps, resulted in the merger of Core Laboratories N.V., a holding company in the Netherlands, with and into Core Laboratories Luxembourg S.A., a public limited liability company incorporated under the laws of Luxembourg, with Core Laboratories Luxembourg S.A. surviving, and subsequently the migration of Core Laboratories Luxembourg S.A. out of Luxembourg and its domestication as Core Laboratories Inc., a Delaware corporation. The Redomestication Transaction has been accounted for as a transaction between entities under common control. There is no difference between the combined separate entities prior to the Redomestication Transaction and the combined separate entities after the Redomestication Transaction, therefore, comparative information reported in these financial statements do not differ from amounts previously reported under Core Laboratories N.V.’s consolidated financial statements. These financial statements should be read in conjunction with Core Laboratories N.V.’s Quarterly Report on Form 10-Q for the three months ended March 31, 2023 and Core Laboratories N.V.’s Annual Report on Form 10-K for the year ended December 31, 2022, including Note 2 - Summary of Significant Accounting Policies. The accompanying unaudited interim consolidated financial statements include the accounts of Core Laboratories Inc. and its subsidiaries for which we have a controlling voting interest and/or a controlling financial interest. These financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information using the instructions to Form 10-Q and Article 10 of Regulation S-X. Core Laboratories Inc.’s balance sheet information for the year ended December 31, 2023, was derived from the 2023 audited consolidated financial statements. Accordingly, these financial statements do not include all of the information and footnote disclosures required by U.S. GAAP for the annual financial statements and should be read in conjunction with the audited financial statements and the summary of significant accounting policies and notes thereto included in Core Laboratories Inc.’s Annual Report on Form 10-K for the year ended December 31, 2023, including Note 2 - Summary of Significant Accounting Policies. There have been no changes to the accounting policies of the combined entities during the six months ended June 30, 2024. Core Laboratories Inc. uses the equity method of accounting for investments in which it has less than a majority interest and does not exercise control but does exert significant influence. Non-controlling interests have been recorded to reflect outside ownership attributable to consolidated subsidiaries that are less than 100% owned. All inter-company transactions and balances have been eliminated in consolidation. In the opinion of management, all adjustments considered necessary for a fair statement of the results for the interim periods presented have been included in these financial statements. Furthermore, the operating results presented for the three and six months ended June 30, 2024, may not necessarily be indicative of the results that may be expected for the year ending December 31, 2024. Certain reclassifications were made to prior period amounts in order to conform to the current period presentations. These reclassifications had no impact on the reported net income or cash flows for the three and six months ended June 30, 2023 . Property, Plant and Equipment We review our long-lived assets (“LLA”) for impairment when events or changes in circumstances indicate that their net book value may not be recovered over their remaining service lives. Indicators of possible impairment may include significant declines in activity levels in regions where specific assets or groups of assets are located, extended periods of idle use, declining revenue or cash flow or overall changes in general market conditions. The geopolitical conflict between Russia and Ukraine, which began in February 2022 and has continued through June 30, 2024, has resulted in disruptions to our operations in Russia and Ukraine. As of June 30, 2024, all laboratory facilities, offices, and locations in Russia and Ukraine continued to operate with no significant impact to local business operations. Therefore, we determined there was no triggering event for LLA in Russia and Ukraine, and no impairment assessments have been performed as of June 30, 2024 . Recent Accounting Pronouncements Issued But Not Yet Effective In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2023- 07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses on an annual and interim basis. The amendment is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendment should be applied retrospectively to all prior periods presented in the financial statements. Upon adoption, our disclosures regarding segment reporting will be expanded accordingly. In December 2023, FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures to improve transparency of income tax disclosures, primarily by requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. The amendment is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The amendment should be applied prospectively; however, retrospective application is permitted. Upon adoption, our disclosures regarding income taxes will be expanded accordingly.

Acquisitions and Divestures

Acquisitions and Divestures	6 Months Ended
	Jun. 30, 2024
Business Combinations [Abstract]
Acquisitions and Divestures	3. ACQUISITIONS AND DIVESTURES We had no significant business acquisitions or divestures during the three and six months ended June 30, 2024 and 2023 .

Contract Assets and Liabilities

Contract Assets and Liabilities	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Contract Assets and Liabilities	4. CONTRACT ASSETS AND LIABILITIES The balance of contract assets and liabilities consisted of the following (in thousands): June 30, December 31, Contract assets: Current $ 1,079 $ 1,293 $ 1,079 $ 1,293 Contract liabilities: Current $ 629 $ 299 $ 629 $ 299 June 30, Estimate of when contract liabilities will be recognized as revenue: Within 12 months $ 629 The current portion of contract assets are included in our accounts receivable. The current portion of contract liabilities is included in unearned revenues. We did no t recognize any impairment losses on our contract assets during the three and six months ended June 30, 2024 and 2023 .

Inventories

Inventories	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventories	5. INVENTORIES Inventories consist of the following (in thousands): June 30, December 31, Finished goods $ 31,209 $ 30,508 Parts and materials 35,307 37,670 Work in progress 3,382 3,524 Total inventories $ 69,898 $ 71,702 We include freight costs incurred for shipping inventory to our clients in the cost of product sales caption in the accompanying consolidated statements of operations.

Leases

Leases	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Leases	6. LEASES We have operating leases primarily consisting of office and lab space, machinery and equipment and vehicles. We entered into a sublease agreement that commenced on July 1, 2023, for existing office and lab space in Calgary, Alberta, Canada. The components of lease expense and other information are as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Consolidated Statements of Operations: Operating lease expense $ 4,364 $ 4,181 $ 8,646 $ 8,670 Short-term lease expense 285 462 837 891 Variable lease expense 391 437 820 1,041 Sublease income ( 56 ) — ( 113 ) — Total lease expense $ 4,984 $ 5,080 $ 10,190 $ 10,602 Consolidated Statements of Cash Flows: Operating cash flows - operating leases payments $ 4,631 $ 4,218 $ 8,909 $ 8,750 Right of use assets obtained (released) in exchange for operating lease obligations $ 2,182 $ 441 $ 6,959 $ 10,405 Other information: Weighted-average remaining lease term - operating leases 8.62 years 8.32 years 8.62 years 8.32 years Weighted-average discount rate - operating leases 5.33 % 5.24 % 5.33 % 5.24 % Scheduled undiscounted lease payments for non-cancellable operating leases consist of the following (in thousands): June 30, 2024 Operating Leases Operating Subleases Remainder of 2024 $ 7,046 $ ( 115 ) 2025 11,731 ( 231 ) 2026 9,264 ( 236 ) 2027 7,309 ( 241 ) 2028 5,809 ( 163 ) Thereafter 26,888 — Total undiscounted lease payments 68,047 $ ( 986 ) Less: Imputed interest ( 14,386 ) Total operating lease liabilities $ 53,661 See Note 13 - Other (income) and expense, net regarding lease abandonments during the six months ended June 30, 2024 and 2023 .

Long-Term Debt, Net

Long-Term Debt, Net	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Long-Term Debt, Net	7. LONG-TERM DEBT, NET We have no finance lease obligations. Debt is summarized in the following table (in thousands): Interest Rate Maturity Date June 30, December 31, 2021 Senior Notes Series A (1) 4.09 % January 12, 2026 $ 45,000 $ 45,000 2021 Senior Notes Series B (1) 4.38 % January 12, 2028 15,000 15,000 2023 Senior Notes Series A (2) 7.25 % June 28, 2028 25,000 25,000 2023 Senior Notes Series B (2) 7.50 % June 28, 2030 25,000 25,000 Credit Facility 40,000 56,000 Total long-term debt 150,000 166,000 Less: Debt issuance costs ( 2,379 ) ( 2,866 ) Long-term debt, net $ 147,621 $ 163,134 (1) Interest is payable semi-annually on June 30 and December 30 . (2) Interest is payable semi-annually on March 28 and September 28. We, along with our wholly owned subsidiary Core Laboratories (U.S.) Interests Holdings, Inc. (“CLIH”) as issuer, have senior notes outstanding that were issued through private placement transactions. Series A and Series B of the 2021 Senior Notes were issued in 2021 (the “2021 Senior Notes”). Series A and Series B of the 2023 Senior Notes were issued in 2023 (the “2023 Senior Notes”). The 2021 Senior Notes and the 2023 Senior Notes are collectively the “Senior Notes”. We, along with CLIH, have a credit facility, the Eighth Amended and Restated Credit Agreement (as amended, the “Credit Facility”) for an aggregate borrowing commitment of $ 135.0 million with a $ 50.0 million “accordion” feature. The Credit Facility is secured by first priority interests in (1) substantially all of the tangible and intangible personal property, and equity interest of CLIH and certain of the Company’s U.S. and foreign subsidiary companies; and (2) instruments evidencing intercompany indebtedness owing to the Company, CLIH and certain of the Company’s U.S. and foreign subsidiary companies. Under the Credit Facility, the Secured Overnight Financing Rate (“SOFR”) plus 2.00 % to SOFR plus 3.00 % will be applied to outstanding borrowings. Any outstanding balance under the Credit Facility is due at maturity on July 25, 2026 , subject to springing maturity on July 12, 2025, if any portion of the Company’s 2021 Senior Notes Series A due January 12, 2026, in the aggregate principal amount of $ 45.0 million, remain outstanding on July 12, 2025, unless the Company’s liquidity equals or exceeds the principal amount of the 2021 Senior Notes Series A outstanding on such date. The available capacity at any point in time is reduced by outstanding borrowings and outstanding letters of credit which totaled approximately $ 9.7 million at June 30, 2024 , resulting in an available borrowing capacity under the Credit Facility of approximately $ 85.3 million. In addition to indebtedness under the Credit Facility, we had approximately $ 7.8 million of outstanding letters of credit and performance guarantees and bonds from other sources as of June 30, 2024. The Credit Facility and Senior Notes include a cross-default provision, whereby a default under one agreement may trigger a default in the other agreements. The terms of the Credit Facility and Senior Notes require us to meet certain covenants, including, but not limited to, an interest coverage ratio (calculated as consolidated EBITDA divided by interest expense) and a leverage ratio (calculated as consolidated net indebtedness divided by consolidated EBITDA), where consolidated EBITDA (as defined in each agreement) and interest expense are calculated using the most recent four fiscal quarters. The Credit Facility has more restrictive covenants with a minimum interest coverage ratio of 3.00 to 1.00 and permits a maximum leverage ratio of 2.50 to 1.00 . The Credit Facility allows non-cash charges such as impairment of assets, stock compensation and other non-cash charges to be added back in the calculation of consolidated EBITDA. The terms of our Credit Facility also allow us to negotiate in good faith to amend any ratio or requirement to preserve the original intent of the agreement if any change in accounting principles would affect the computation of any financial ratio or covenant of the Credit Facility. In accordance with the terms of the Credit Facility, our leverage ratio is 1.66 , and our interest coverage ratio is 5.94 , each for the period ended June 30, 2024. We are in compliance with all covenants contained in our Credit Facility and Senior Notes as of June 30, 2024. Certain of our material, wholly owned subsidiaries are guarantors or co-borrowers under the Credit Facility and Senior Notes. See Note 11 - Derivative Instruments and Hedging Activities for additional information regarding interest rate swap agreements we have entered to fix the underlying risk-free rate on our Credit Facility and Senior notes. The estimated fair value of total debt at June 30, 2024, and December 31, 2023 , approximated the book value of total debt. The fair value was estimated using Level 2 inputs by calculating the sum of the discounted future interest and principal payments through the maturity date.

Pension and Other Postretiremen

Pension and Other Postretirement Benefit Plans	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Pension and Other Postretirement Benefit Plans	8. PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS Prior to January 2020, one of our subsidiaries provided a noncontributory defined benefit pension plan covering substantially all of our Dutch employees (“Dutch Plan”) who were hired prior to 2000. This pension benefit was based on years of service and final pay or career average pay, depending on when the employee began participating. The Dutch Plan was curtailed prior to January 2020, and these employees have been moved into the Dutch defined contribution plan. However, the unconditional indexation for this group of participants continues for so long as they remain in active service with the Company. The following table summarizes the components of net periodic pension cost under the Dutch Plan (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Interest cost $ 348 $ 372 $ 702 $ 739 Expected return on plan assets ( 287 ) ( 330 ) ( 577 ) ( 656 ) Net periodic pension cost $ 61 $ 42 $ 125 $ 83

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. COMMITMENTS AND CONTINGENCIES We have been and may, from time to time, be named as a defendant in legal actions that arise in the ordinary course of business. These include, but are not limited to, employment-related claims and contractual disputes or claims for personal injury or property damage which occur in connection with the provision of our services and products. A liability is accrued when a loss is both probable and can be reasonably estimated. See Note 7 - Long-term Debt, net for amounts committed under letters of credit and performance guarantees and bonds.

Equity

Equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Equity	10. EQUITY Treasury Stock During the three and six months ended June 30, 2024 , we distributed 58,396 and 69,071 shares of treasury stock, respectively, upon vesting of stock-based awards. During the three and six months ended June 30, 2024 , we repurchased 10,067 and 12,912 shares of our common stock, respectively, for $ 162 thousand and $ 206 thousand, respectively, which were surrendered to us pursuant to the terms of a stock-based compensation plan in consideration of the participants’ tax burdens resulting from the issuance of common stock under that plan. Such shares of common stock, unless canceled, may be reissued for a variety of purposes such as future acquisitions, non-employee director stock awards or employee stock awards. Dividend Policy In March and May 2024, we paid a quarterly cash dividend of $ 0.01 per share of common stock. In addition, on July 24, 2024 , we declared a quarterly dividend of $ 0.01 per share of common stock for shareholders of record on August 5, 2024, and payable on August 26, 2024. Accumulated Other Comprehensive Income (Loss) Amounts recognized, net of income tax, in accumulated other comprehensive income (loss) consist of the following (in thousands): June 30, December 31, Pension and other post-retirement benefit plans - unrecognized prior service costs and net actuarial loss $ ( 5,820 ) $ ( 5,914 ) Interest rate swaps - net gain (loss) on fair value 511 942 Total accumulated other comprehensive income (loss) $ ( 5,309 ) $ ( 4,972 )

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	11. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES We are exposed to market risks related to fluctuations in interest rates. To mitigate these risks, we may utilize derivative instruments in the form of interest rate swaps. We do not enter into derivative transactions for speculative purposes. Under the Company’s Credit Facility, the SOFR plus 2.00 % to SOFR plus 3.00 % will be applied to outstanding borrowings. See Note 7 - Long-term Debt, net for additional information. The Company has elected to apply the optional expedient for hedging relationships affected by reference rate reform. Accordingly, no outstanding balance on the Credit Facility with a SOFR rate will preclude cash flow hedging with existing London Inter-Bank Offer Rate (“LIBOR”) hedging instruments. In August 2014, we entered into a swap agreement with a notional amount of $ 25 million (“2014 Variable-to-Fixed Swap”), and the LIBOR portion of the interest rate was fixed at 2.5 % through August 29, 2024 . In February 2020, we entered into a second swap agreement with a notional amount of $ 25 million (“2020 Variable-to-Fixed Swap”), and the LIBOR portion of the interest rate was fixed at 1.3 % through February 28, 2025 . These interest rate swap agreements were terminated, dedesignated and settled in March 2021. The hedging relationship is highly effective; therefore, gains and losses on these swaps will be reclassified into interest expense in accordance with the forecasted transactions or the scheduled interest payments on the Credit Facility. At June 30, 2023, the outstanding balance on our Credit Facility had been reduced to zero , and approximately $ 0.2 million of losses were reclassified to interest expense associated with the ineffective period of the hedging relationship, as it became probable that certain of the forecasted transactions would not occur within the originally specified time period. Remaining net losses on these swaps included in accumulated other comprehensive income (loss) as of June 30, 2024 , are $ 50 thousand all of which is expected to be reclassified into earnings within the next 12 months as interest payments are made on the Company’s Credit Facility. In March 2021, we entered into a new forward interest rate swap agreement and carried the fair value of the terminated 2014 and 2020 Variable-to-Fixed Swaps into the new agreement in a “blend and extend” structured transaction. The purpose of this forward interest rate swap agreement is to fix the underlying risk-free rate, that would be associated with the anticipated issuance of new long-term debt by the Company in future periods. The forward interest rate swap would hedge the risk-free rate on forecasted long-term debt for a maximum of 11 years through March 2033. Risk associated with future changes in the 10-year LIBOR interest rates have been fixed up to a notional amount of $ 60 million with this instrument. The interest rate swap qualifies as a cash flow hedging instrument. This forward interest rate swap agreement was terminated and settled in April 2022. The hedging relationship is highly effective, therefore, the gain on the termination of the forward interest rate swap was included in accumulated other comprehensive income (loss). On June 28, 2023, the Company issued the 2023 Senior Notes in the aggregate principal amount of $ 50 million at fixed interest rates of 7.25 % and 7.50 %. The Company has elected to apply the optional expedient for hedging relationships affected by reference rate reform. Accordingly, no outstanding balance on the 2023 Senior Notes will preclude cash flow hedging with the existing LIBOR hedging instrument. The Company recognized a gain of $ 0.4 million in earnings for the $ 10 million over hedged portion of the interest rate swap in 2023. The remaining net gain on this swap included in accumulated other comprehensive income (loss) at June 30, 2024 , which will be amortized into interest expense in accordance with the forecasted transactions or the scheduled interest payments on the 2023 Senior Notes and any future debt through March 2033, is $ 0.6 million, of which $ 0.7 million gain is expected to be reclassified into earnings within the next 12 months. As of June 30, 2024 , the aggregated gains and losses on these interest swaps that are included in accumulated other comprehensive income (loss) are a net gain of $ 0.5 million. At June 30, 2024 , we had fixed rate long-term debt aggregating $ 110 million and variable rate long-term debt aggregating $ 40 million. The effect of the interest rate swaps on the consolidated statements of operations is as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Income Statement Derivatives designated as hedges: 5 year interest rate swap $ 22 $ 128 $ 61 $ 211 Increase (decrease) to interest expense 10 year interest rate swap ( 270 ) ( 166 ) ( 606 ) 17 Increase (decrease) to interest expense $ ( 248 ) $ ( 38 ) $ ( 545 ) $ 228

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Financial Instruments	12. FINANCIAL INSTRUMENTS The Company’s only financial assets and liabilities which are measured at fair value on a recurring basis relate to certain aspects of the Company’s benefit plans. We use the market approach to determine the fair value of these assets and liabilities using significant other observable inputs (Level 2) with the assistance of third-party specialists. We do not have any assets or liabilities measured at fair value on a recurring basis using quoted prices in an active market (Level 1) or significant unobservable inputs (Level 3). Gains and losses related to the fair value changes in the financial assets and liabilities are recorded in general and administrative expense in the consolidated statements of operations. The following table summarizes the fair value balances (in thousands): Fair Value Measurement at June 30, 2024 Total Level 1 Level 2 Level 3 Assets: Company owned life insurance policies (1) $ 24,801 $ — $ 24,801 $ — $ 24,801 $ — $ 24,801 $ — Liabilities: Deferred compensation liabilities $ 19,222 $ — $ 19,222 $ — $ 19,222 $ — $ 19,222 $ — Fair Value Measurement at December 31, 2023 Total Level 1 Level 2 Level 3 Assets: Company owned life insurance policies (1) $ 25,397 $ — $ 25,397 $ — $ 25,397 $ — $ 25,397 $ — Liabilities: Deferred compensation liabilities $ 17,299 $ — $ 17,299 $ — $ 17,299 $ — $ 17,299 $ — (1) Company owned life insurance policies have cash surrender value and are intended to assist in funding deferred compensation liabilities and other benefit plans.

Other (Income) Expense, Net

Other (Income) Expense, Net	6 Months Ended
	Jun. 30, 2024
Other Income and Expenses [Abstract]
Other (Income) Expense, Net	13. OTHER (INCOME) EXPENSE, NET The components of other (income) expense, net, are as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 (Gain) loss on sale of assets $ ( 217 ) $ ( 129 ) $ ( 754 ) $ ( 33 ) Results of non-consolidated subsidiaries ( 68 ) ( 62 ) ( 99 ) ( 199 ) Foreign exchange (gain) loss, net 388 ( 386 ) 674 ( 530 ) Rents and royalties ( 795 ) ( 110 ) ( 801 ) ( 255 ) Return on pension assets and other pension costs ( 287 ) ( 330 ) ( 577 ) ( 656 ) Loss on lease abandonment and other exit costs — — 699 641 Assets write-down — — 1,110 1,015 Insurance and other settlements ( 1,319 ) — ( 2,330 ) ( 604 ) Severance and other charges — — 824 — Other, net ( 92 ) ( 51 ) ( 290 ) ( 475 ) Total other (income) expense, net $ ( 2,390 ) $ ( 1,068 ) $ ( 1,544 ) $ ( 1,096 ) During the six months ended June 30, 2024 and 2023, we abandoned certain leases in the U.S. and Canada, respectively, and incurred lease abandonment and other exit costs of $ 0.7 million and $ 0.6 million, respectively. As a result of consolidating and exiting these facilities, the associated leasehold improvements, right of use assets and other assets of $ 1.1 million and $ 1.0 million were abandoned and expensed during the six months ended June 30, 2024 and 2023, respectively. During the six months ended June 30, 2024 , we had a fire incident at one of our U.K. facilities and have recorded partial insurance settlements of $ 2.3 million, including $ 1.3 million recorded in the three months ended June 30, 2024, associated with costs incurred and loss of income from business interruption. During the six months ended June 30, 2023 , the State of Louisiana expropriated the access road to one of our facilities and paid us a settlement of $ 0.6 million. Foreign exchange (gain) loss, net by currency is summarized in the following table (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 British Pound $ 39 $ 70 $ 70 $ ( 181 ) Canadian Dollar 34 ( 64 ) 73 ( 6 ) Colombian Peso ( 23 ) 79 ( 30 ) 132 Euro 47 ( 101 ) 65 ( 17 ) Indonesian Rupiah 145 37 225 ( 33 ) Russian Ruble 18 ( 90 ) 14 ( 341 ) Turkish Lira 4 ( 443 ) 25 ( 448 ) Other currencies, net 124 126 232 364 Foreign exchange (gain) loss, net $ 388 $ ( 386 ) $ 674 $ ( 530 )

Income Tax Expense (Benefit)

Income Tax Expense (Benefit)	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Tax Expense (Benefit)	14. INCOME TAX EXPENSE (BENEFIT) The Company recorded an income tax expense of $ 3.6 million and $ 5.3 million for the three and six months ended June 30, 2024 , respectively, compared to an income tax benefit of $ 7.3 million and $ 6.6 million for the three months and six months ended June 30, 2023, respectively. The effective tax rate for the three and six months ended June 30, 2024 , was 28.2 % and 29.3 %, respectively. The effective tax rate for the three and six months ended June 30, 2023 was ( 46.3 %) and ( 35.5 %), respectively. The tax rate for the three and six months ended June 30, 2024 was impacted by the earnings mix of jurisdictions subject to tax for the period and items discrete to the quarter. The tax rate for the three and six months ended June 30, 2023 was largely impacted by the reversal of net deferred tax liabilities attributable to Core Laboratories N.V., which were not realized following the Redomestication Transaction on May 1, 2023.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings per Share	15. EARNINGS PER SHARE We compute basic earnings per share by dividing net income attributable to Core Laboratories Inc. by the number of weighted average common shares outstanding during the period. Diluted earnings per share includes the incremental effect of contingently issuable shares from performance and restricted stock awards, as determined using the treasury stock method. The Redomestication Transaction had no effect on earnings per share for the periods presented. The following table summarizes the calculation of weighted average shares of common stock outstanding used in the computation of basic and diluted earnings per share (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Weighted average common shares outstanding - basic 46,908 46,675 46,884 46,655 Effect of dilutive securities: Restricted shares 66 91 48 88 Performance shares 769 731 730 733 Weighted average common shares outstanding - diluted 47,743 47,497 47,662 47,476

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Reporting	16. SEGMENT REPORTING We operate our business in two segments. These complementary operating segments provide different services and products and utilize different technologies for evaluating and improving reservoir performance and increasing oil and gas recovery from new and existing fields. • Reservoir Description: Encompasses the characterization of petroleum reservoir rock and reservoir fluids samples to increase production and improve recovery of crude oil and natural gas from our clients’ reservoirs. We provide laboratory-based analytical and field services to characterize properties of crude oil and crude oil-derived products to the oil and gas industry. Services associated with these fluids include determining the quality and measuring the quantity of the reservoir fluids and their derived products, such as gasoline, diesel and biofuels. We also provide proprietary and joint industry studies based on these types of analyses and manufacture associated laboratory equipment. In addition, we provide reservoir description capabilities that support various activities associated with energy transition projects, including services that support carbon capture, utilization and storage, geothermal projects, and the evaluation and appraisal of mining activities around lithium and other elements necessary for energy storage. • Production Enhancement: Includes services and manufactured products associated with reservoir well completions, perforations, stimulation, production and well abandonment. We provide integrated diagnostic services to evaluate and monitor the effectiveness of well completions and to develop solutions aimed at increasing the effectiveness of enhanced oil recovery projects. We use the same accounting policies to prepare our operating segment results as are used to prepare our consolidated financial statements. All interest and other non-operating income (expense) is attributable to Corporate & Other and is not allocated to specific operating segments. Summarized financial information of our operating segments is shown in the following table (in thousands): Reservoir Production Corporate & (1) Consolidated Three months ended June 30, 2024 Revenue from unaffiliated clients $ 86,276 $ 44,301 $ — $ 130,577 Inter-segment revenue 23 15 ( 38 ) — Segment operating income 11,443 4,401 164 16,008 Total assets 313,128 161,396 123,275 597,799 Capital expenditures 2,377 267 223 2,867 Depreciation and amortization 2,633 1,022 115 3,770 Three months ended June 30, 2023 Revenue from unaffiliated clients $ 83,384 $ 44,497 $ — $ 127,881 Inter-segment revenue 88 65 ( 153 ) — Segment operating income 13,316 5,498 92 18,906 Total assets 306,513 165,777 129,558 601,848 Capital expenditures 1,477 383 315 2,175 Depreciation and amortization 2,776 994 167 3,937 Six months ended June 30, 2024 Revenue from unaffiliated clients $ 170,513 $ 89,701 $ — $ 260,214 Inter-segment revenue 37 62 ( 99 ) — Segment operating income 18,336 5,977 266 24,579 Total assets 313,128 161,396 123,275 597,799 Capital expenditures 5,208 487 223 5,918 Depreciation and amortization 5,317 2,058 238 7,613 Six months ended June 30, 2023 Revenue from unaffiliated clients $ 163,572 $ 92,665 $ — $ 256,237 Inter-segment revenue 129 119 ( 248 ) — Segment operating income 15,787 8,779 821 25,387 Total assets 306,513 165,777 129,558 601,848 Capital expenditures 3,039 1,000 343 4,382 Depreciation and amortization 5,661 1,985 335 7,981 (1) "Corporate & Other" represents those items that are not directly related to a particular operating segment and eliminations.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation On May 1, 2023, Core Laboratories N.V. completed its previously announced redomestication transaction (the “Redomestication Transaction”) which through a series of steps, resulted in the merger of Core Laboratories N.V., a holding company in the Netherlands, with and into Core Laboratories Luxembourg S.A., a public limited liability company incorporated under the laws of Luxembourg, with Core Laboratories Luxembourg S.A. surviving, and subsequently the migration of Core Laboratories Luxembourg S.A. out of Luxembourg and its domestication as Core Laboratories Inc., a Delaware corporation. The Redomestication Transaction has been accounted for as a transaction between entities under common control. There is no difference between the combined separate entities prior to the Redomestication Transaction and the combined separate entities after the Redomestication Transaction, therefore, comparative information reported in these financial statements do not differ from amounts previously reported under Core Laboratories N.V.’s consolidated financial statements. These financial statements should be read in conjunction with Core Laboratories N.V.’s Quarterly Report on Form 10-Q for the three months ended March 31, 2023 and Core Laboratories N.V.’s Annual Report on Form 10-K for the year ended December 31, 2022, including Note 2 - Summary of Significant Accounting Policies. The accompanying unaudited interim consolidated financial statements include the accounts of Core Laboratories Inc. and its subsidiaries for which we have a controlling voting interest and/or a controlling financial interest. These financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) for interim financial information using the instructions to Form 10-Q and Article 10 of Regulation S-X. Core Laboratories Inc.’s balance sheet information for the year ended December 31, 2023, was derived from the 2023 audited consolidated financial statements. Accordingly, these financial statements do not include all of the information and footnote disclosures required by U.S. GAAP for the annual financial statements and should be read in conjunction with the audited financial statements and the summary of significant accounting policies and notes thereto included in Core Laboratories Inc.’s Annual Report on Form 10-K for the year ended December 31, 2023, including Note 2 - Summary of Significant Accounting Policies. There have been no changes to the accounting policies of the combined entities during the six months ended June 30, 2024. Core Laboratories Inc. uses the equity method of accounting for investments in which it has less than a majority interest and does not exercise control but does exert significant influence. Non-controlling interests have been recorded to reflect outside ownership attributable to consolidated subsidiaries that are less than 100% owned. All inter-company transactions and balances have been eliminated in consolidation. In the opinion of management, all adjustments considered necessary for a fair statement of the results for the interim periods presented have been included in these financial statements. Furthermore, the operating results presented for the three and six months ended June 30, 2024, may not necessarily be indicative of the results that may be expected for the year ending December 31, 2024. Certain reclassifications were made to prior period amounts in order to conform to the current period presentations. These reclassifications had no impact on the reported net income or cash flows for the three and six months ended June 30, 2023 .
Property, Plant and Equipment	Property, Plant and Equipment We review our long-lived assets (“LLA”) for impairment when events or changes in circumstances indicate that their net book value may not be recovered over their remaining service lives. Indicators of possible impairment may include significant declines in activity levels in regions where specific assets or groups of assets are located, extended periods of idle use, declining revenue or cash flow or overall changes in general market conditions. The geopolitical conflict between Russia and Ukraine, which began in February 2022 and has continued through June 30, 2024, has resulted in disruptions to our operations in Russia and Ukraine. As of June 30, 2024, all laboratory facilities, offices, and locations in Russia and Ukraine continued to operate with no significant impact to local business operations. Therefore, we determined there was no triggering event for LLA in Russia and Ukraine, and no impairment assessments have been performed as of June 30, 2024 .
Recent Accounting Pronouncements	Recent Accounting Pronouncements Issued But Not Yet Effective In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) 2023- 07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses on an annual and interim basis. The amendment is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendment should be applied retrospectively to all prior periods presented in the financial statements. Upon adoption, our disclosures regarding segment reporting will be expanded accordingly. In December 2023, FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures to improve transparency of income tax disclosures, primarily by requiring consistent categories and greater disaggregation of information in the rate reconciliation and income taxes paid disaggregated by jurisdiction. The amendment is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The amendment should be applied prospectively; however, retrospective application is permitted. Upon adoption, our disclosures regarding income taxes will be expanded accordingly.

Contract Assets and Liabiliti_2

Contract Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Contract Assets and Liabilities	The balance of contract assets and liabilities consisted of the following (in thousands): June 30, December 31, Contract assets: Current $ 1,079 $ 1,293 $ 1,079 $ 1,293 Contract liabilities: Current $ 629 $ 299 $ 629 $ 299 June 30, Estimate of when contract liabilities will be recognized as revenue: Within 12 months $ 629

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consist of the following (in thousands): June 30, December 31, Finished goods $ 31,209 $ 30,508 Parts and materials 35,307 37,670 Work in progress 3,382 3,524 Total inventories $ 69,898 $ 71,702

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Schedule of Components of Lease Expense and Other Information	The components of lease expense and other information are as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Consolidated Statements of Operations: Operating lease expense $ 4,364 $ 4,181 $ 8,646 $ 8,670 Short-term lease expense 285 462 837 891 Variable lease expense 391 437 820 1,041 Sublease income ( 56 ) — ( 113 ) — Total lease expense $ 4,984 $ 5,080 $ 10,190 $ 10,602 Consolidated Statements of Cash Flows: Operating cash flows - operating leases payments $ 4,631 $ 4,218 $ 8,909 $ 8,750 Right of use assets obtained (released) in exchange for operating lease obligations $ 2,182 $ 441 $ 6,959 $ 10,405 Other information: Weighted-average remaining lease term - operating leases 8.62 years 8.32 years 8.62 years 8.32 years Weighted-average discount rate - operating leases 5.33 % 5.24 % 5.33 % 5.24 %
Schedule of Undiscounted Cash Flows for Non-cancellable Leases	Scheduled undiscounted lease payments for non-cancellable operating leases consist of the following (in thousands): June 30, 2024 Operating Leases Operating Subleases Remainder of 2024 $ 7,046 $ ( 115 ) 2025 11,731 ( 231 ) 2026 9,264 ( 236 ) 2027 7,309 ( 241 ) 2028 5,809 ( 163 ) Thereafter 26,888 — Total undiscounted lease payments 68,047 $ ( 986 ) Less: Imputed interest ( 14,386 ) Total operating lease liabilities $ 53,661

Long-Term Debt, Net (Tables)

Long-Term Debt, Net (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Debt is summarized in the following table (in thousands): Interest Rate Maturity Date June 30, December 31, 2021 Senior Notes Series A (1) 4.09 % January 12, 2026 $ 45,000 $ 45,000 2021 Senior Notes Series B (1) 4.38 % January 12, 2028 15,000 15,000 2023 Senior Notes Series A (2) 7.25 % June 28, 2028 25,000 25,000 2023 Senior Notes Series B (2) 7.50 % June 28, 2030 25,000 25,000 Credit Facility 40,000 56,000 Total long-term debt 150,000 166,000 Less: Debt issuance costs ( 2,379 ) ( 2,866 ) Long-term debt, net $ 147,621 $ 163,134 (1) Interest is payable semi-annually on June 30 and December 30 . (2) Interest is payable semi-annually on March 28 and September 28.

Pension and Other Postretirem_2

Pension and Other Postretirement Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Schedule of Components of Net Periodic Pension Cost	The following table summarizes the components of net periodic pension cost under the Dutch Plan (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Interest cost $ 348 $ 372 $ 702 $ 739 Expected return on plan assets ( 287 ) ( 330 ) ( 577 ) ( 656 ) Net periodic pension cost $ 61 $ 42 $ 125 $ 83

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Amounts recognized, net of income tax, in accumulated other comprehensive income (loss) consist of the following (in thousands): June 30, December 31, Pension and other post-retirement benefit plans - unrecognized prior service costs and net actuarial loss $ ( 5,820 ) $ ( 5,914 ) Interest rate swaps - net gain (loss) on fair value 511 942 Total accumulated other comprehensive income (loss) $ ( 5,309 ) $ ( 4,972 )

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)	The effect of the interest rate swaps on the consolidated statements of operations is as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Income Statement Derivatives designated as hedges: 5 year interest rate swap $ 22 $ 128 $ 61 $ 211 Increase (decrease) to interest expense 10 year interest rate swap ( 270 ) ( 166 ) ( 606 ) 17 Increase (decrease) to interest expense $ ( 248 ) $ ( 38 ) $ ( 545 ) $ 228

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Summary of Fair Value Balances	The following table summarizes the fair value balances (in thousands): Fair Value Measurement at June 30, 2024 Total Level 1 Level 2 Level 3 Assets: Company owned life insurance policies (1) $ 24,801 $ — $ 24,801 $ — $ 24,801 $ — $ 24,801 $ — Liabilities: Deferred compensation liabilities $ 19,222 $ — $ 19,222 $ — $ 19,222 $ — $ 19,222 $ — Fair Value Measurement at December 31, 2023 Total Level 1 Level 2 Level 3 Assets: Company owned life insurance policies (1) $ 25,397 $ — $ 25,397 $ — $ 25,397 $ — $ 25,397 $ — Liabilities: Deferred compensation liabilities $ 17,299 $ — $ 17,299 $ — $ 17,299 $ — $ 17,299 $ — (1) Company owned life insurance policies have cash surrender value and are intended to assist in funding deferred compensation liabilities and other benefit plans.

Other (Income) Expense, Net (Ta

Other (Income) Expense, Net (Tables)	6 Months Ended
	Jun. 30, 2024
Other Income and Expenses [Abstract]
Schedule of Other (Income) Expense, Net	The components of other (income) expense, net, are as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 (Gain) loss on sale of assets $ ( 217 ) $ ( 129 ) $ ( 754 ) $ ( 33 ) Results of non-consolidated subsidiaries ( 68 ) ( 62 ) ( 99 ) ( 199 ) Foreign exchange (gain) loss, net 388 ( 386 ) 674 ( 530 ) Rents and royalties ( 795 ) ( 110 ) ( 801 ) ( 255 ) Return on pension assets and other pension costs ( 287 ) ( 330 ) ( 577 ) ( 656 ) Loss on lease abandonment and other exit costs — — 699 641 Assets write-down — — 1,110 1,015 Insurance and other settlements ( 1,319 ) — ( 2,330 ) ( 604 ) Severance and other charges — — 824 — Other, net ( 92 ) ( 51 ) ( 290 ) ( 475 ) Total other (income) expense, net $ ( 2,390 ) $ ( 1,068 ) $ ( 1,544 ) $ ( 1,096 )
Foreign Currency (Gain) Loss, Net By Currency	Foreign exchange (gain) loss, net by currency is summarized in the following table (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 British Pound $ 39 $ 70 $ 70 $ ( 181 ) Canadian Dollar 34 ( 64 ) 73 ( 6 ) Colombian Peso ( 23 ) 79 ( 30 ) 132 Euro 47 ( 101 ) 65 ( 17 ) Indonesian Rupiah 145 37 225 ( 33 ) Russian Ruble 18 ( 90 ) 14 ( 341 ) Turkish Lira 4 ( 443 ) 25 ( 448 ) Other currencies, net 124 126 232 364 Foreign exchange (gain) loss, net $ 388 $ ( 386 ) $ 674 $ ( 530 )

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Summary of Calculation of Weighted Average Shares Used in the Computation of Basic and Diluted Earnings per Share	The following table summarizes the calculation of weighted average shares of common stock outstanding used in the computation of basic and diluted earnings per share (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Weighted average common shares outstanding - basic 46,908 46,675 46,884 46,655 Effect of dilutive securities: Restricted shares 66 91 48 88 Performance shares 769 731 730 733 Weighted average common shares outstanding - diluted 47,743 47,497 47,662 47,476

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Summarized financial information of our operating segments is shown in the following table (in thousands): Reservoir Production Corporate & (1) Consolidated Three months ended June 30, 2024 Revenue from unaffiliated clients $ 86,276 $ 44,301 $ — $ 130,577 Inter-segment revenue 23 15 ( 38 ) — Segment operating income 11,443 4,401 164 16,008 Total assets 313,128 161,396 123,275 597,799 Capital expenditures 2,377 267 223 2,867 Depreciation and amortization 2,633 1,022 115 3,770 Three months ended June 30, 2023 Revenue from unaffiliated clients $ 83,384 $ 44,497 $ — $ 127,881 Inter-segment revenue 88 65 ( 153 ) — Segment operating income 13,316 5,498 92 18,906 Total assets 306,513 165,777 129,558 601,848 Capital expenditures 1,477 383 315 2,175 Depreciation and amortization 2,776 994 167 3,937 Six months ended June 30, 2024 Revenue from unaffiliated clients $ 170,513 $ 89,701 $ — $ 260,214 Inter-segment revenue 37 62 ( 99 ) — Segment operating income 18,336 5,977 266 24,579 Total assets 313,128 161,396 123,275 597,799 Capital expenditures 5,208 487 223 5,918 Depreciation and amortization 5,317 2,058 238 7,613 Six months ended June 30, 2023 Revenue from unaffiliated clients $ 163,572 $ 92,665 $ — $ 256,237 Inter-segment revenue 129 119 ( 248 ) — Segment operating income 15,787 8,779 821 25,387 Total assets 306,513 165,777 129,558 601,848 Capital expenditures 3,039 1,000 343 4,382 Depreciation and amortization 5,661 1,985 335 7,981

Description of Business (Detail

Description of Business (Details)	6 Months Ended
	Jun. 30, 2024 Segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	2

Acquisitions and Divestures - A

Acquisitions and Divestures - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Business Combinations [Abstract]
Goodwill, acquired during period	$ 0	$ 0	$ 0	$ 0

Contract Assets and Liabiliti_3

Contract Assets and Liabilities - Contract Assets and Liabilities Changes in Net Contract Assets (Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Contract assets
Current	$ 1,079	$ 1,293
Contract assets	1,079	1,293
Contract liabilities
Current	629	299
Contract liabilities	$ 629	$ 299

Contract Assets and Liabiliti_4

Contract Assets and Liabilities - Contract Assets and Liabilities Current and Long-term Contract Liabilities (Details 1) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 $ in Thousands	Jun. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract liability	$ 629
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months

Contract Assets and Liabiliti_5

Contract Assets and Liabilities - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Impairment losses on contract assets	$ 0	$ 0	$ 0	$ 0

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 31,209	$ 30,508
Parts and materials	35,307	37,670
Work in progress	3,382	3,524
Total inventories	$ 69,898	$ 71,702

Leases - Schedule of Components

Leases - Schedule of Components of Lease Expense and Other Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Operating lease expense	$ 4,364	$ 4,181	$ 8,646	$ 8,670
Short-term lease expense	285	462	837	891
Variable lease expense	391	437	820	1,041
Sublease income	(56)	0	(113)	0
Total lease expense	4,984	5,080	10,190	10,602
Operating cash flows - operating leases payments	4,631	4,218	8,909	8,750
Right of use assets obtained (released) in exchange for operating lease obligations	$ 2,182	$ 441	$ 6,959	$ 10,405
Weighted-average remaining lease term - operating leases	8 years 7 months 13 days	8 years 3 months 25 days	8 years 7 months 13 days	8 years 3 months 25 days
Weighted-average discount rate - operating leases	5.33%	5.24%	5.33%	5.24%

Leases - Schedule of Undiscount

Leases - Schedule of Undiscounted Cash Flows for Non-cancellable Leases (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Operating Leased Assets [Line Items]
Remainder of 2024	$ 7,046
2025	11,731
2026	9,264
2027	7,309
2028	5,809
Thereafter	26,888
Total undiscounted lease payments	68,047
Less: Imputed interest	(14,386)
Total operating lease liabilities	53,661
Remainder of 2024	(115)
2025	(231)
2026	(236)
2027	(241)
2028	(163)
Thereafter	0
Total undiscounted lease payments	$ (986)

Long-Term Debt, Net - Additiona

Long-Term Debt, Net - Additional Information (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Debt Instrument [Line Items]
Financing lease obligations	$ 0
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Financing lease obligations
Maturity date	Jul. 25, 2026
Line of credit facility reduced minimum borrowing capacity	$ 50,000
Performance bonds under credit facility	9,700
Remaining borrowing capacity	85,300
Performance bonds	$ 7,800
Maximum [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	3%
Minimum [Member]
Debt Instrument [Line Items]
Current borrowing capacity	$ 135,000
Basis spread on variable rate	2%
2021 Senior Notes Series A [Member]
Debt Instrument [Line Items]
Face amount	$ 45,000
Line of Credit [Member]
Debt Instrument [Line Items]
Interest coverage ratio, minimum	3%
Calculated covenant leverage ratio	1.66%
Calculated interest coverage ratio	5.94%
Line of Credit [Member] | Maximum [Member]
Debt Instrument [Line Items]
Maximum leverage ratio permitted	2.5
Line of Credit [Member] | Minimum [Member]
Debt Instrument [Line Items]
Maximum leverage ratio permitted	1

Long-Term Debt, Net - Schedule

Long-Term Debt, Net - Schedule of Long-term Debt Instruments (Details) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Debt Instrument [Line Items]
Maturity date		Jul. 25, 2026
Total long-term debt		$ 150,000	$ 166,000
Less: Debt issuance costs		(2,379)	(2,866)
Long-term debt, net		147,621	163,134
Credit Facility [Member]
Debt Instrument [Line Items]
Total long-term debt		$ 40,000	56,000	$ 0
Series A [Member] | 2021 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate	[1]	4.09%
Maturity date	[1]	Jan. 12, 2026
Total long-term debt	[1]	$ 45,000	45,000
Series A [Member] | 2023 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate	[2]	7.25%
Maturity date	[2]	Jun. 28, 2028
Total long-term debt	[2]	$ 25,000	25,000
Series B [Member] | 2021 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate	[1]	4.38%
Maturity date	[1]	Jan. 12, 2028
Total long-term debt	[1]	$ 15,000	15,000
Series B [Member] | 2023 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, interest rate	[2]	7.50%
Maturity date	[2]	Jun. 28, 2030
Total long-term debt	[2]	$ 25,000	$ 25,000
[1] Interest is payable semi-annually on June 30 and December 30 Interest is payable semi-annually on March 28 and September 28.

Pension and Other Postretirem_3

Pension and Other Postretirement Benefit Plans - Schedule of Components of Net Periodic Pension Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Retirement Benefits [Abstract]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax
Interest cost	$ 348	$ 372	$ 702	$ 739
Expected return on plan assets	(287)	(330)	(577)	(656)
Net periodic pension cost	$ 61	$ 42	$ 125	$ 83

Equity - Additional Information

Equity - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	3 Months Ended			6 Months Ended
	Jul. 24, 2024	May 31, 2024	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Common stock, par value per share			$ 0.01			$ 0.01		$ 0.01
Common shares, vesting, stock based award			58,396			69,071
Common stock, shares, issued			46,938,557			46,938,557		46,938,557
Repurchase of common stock (shares)			10,067			12,912
Treasury stock, value			$ 162		$ 199	$ 206	$ 200
Cash dividends per share		$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.02	$ 0.02
Forecast Member
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Cash dividends per share	$ 0.01
Dividends payable, date declared	Jul. 24, 2024

Equity - Schedule of Accumulate

Equity - Schedule of Accumulated Other Comprehensive Income (Loss) Net of Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Equity [Abstract]
Pension and other post-retirement benefit plans - unrecognized prior service costs and net actuarial loss	$ (5,820)	$ (5,914)
Interest rate swaps - net gain (loss) on fair value	511	942
Total accumulated other comprehensive income (loss)	$ (5,309)	$ (4,972)

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Additional Information (Details) - USD ($)		6 Months Ended
	Jun. 28, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Total long-term debt		$ 150,000,000		$ 166,000,000
Net gain included in accumulated other comprehensive income	$ 400,000
Net loss included in accumulated other comprehensive income		50,000
Net gain included in AOCI expected to be reclassified into earnings	10,000,000
Gain on forward interest rate swap agreements terminated and settlements		500,000
Long-term debt, percentage bearing fixed interest, amount		110,000,000
Long-term debt, percentage bearing variable interest, amount		40,000,000
Credit Facility [Member]
Derivatives, Fair Value [Line Items]
Total long-term debt		40,000,000	$ 0	$ 56,000,000
Net loss reclassified to interest expense			$ 200
2023 Senior Notes [Member]
Derivatives, Fair Value [Line Items]
Face amount	$ 50,000,000
Net gain included in accumulated other comprehensive income		600,000
Net gain included in AOCI expected to be reclassified into earnings		$ 700,000
Maximum [Member]
Derivatives, Fair Value [Line Items]
Basis spread on variable rate		3%
Maximum [Member] | Amended Credit Facility
Derivatives, Fair Value [Line Items]
Basis spread on variable rate		3%
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]		us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember
Maximum [Member] | 2023 Senior Notes [Member]
Derivatives, Fair Value [Line Items]
Derivative, fixed interest rate	7.50%
Minimum [Member]
Derivatives, Fair Value [Line Items]
Basis spread on variable rate		2%
Minimum [Member] | Amended Credit Facility
Derivatives, Fair Value [Line Items]
Basis spread on variable rate		2%
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]		us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember
Minimum [Member] | 2023 Senior Notes [Member]
Derivatives, Fair Value [Line Items]
Derivative, fixed interest rate	7.25%
Interest Rate Swap No. 1 [Member]
Derivatives, Fair Value [Line Items]
Derivative, notional amount		$ 25,000,000
Derivative, fixed interest rate		2.50%
Derivative, maturity date		Aug. 29, 2024
Interest Rate Swap No. 2 [Member]
Derivatives, Fair Value [Line Items]
Derivative, notional amount		$ 25,000,000
Derivative, fixed interest rate		1.30%
Derivative, maturity date		Feb. 28, 2025
Forward Interest Rate Swap [Member]
Derivatives, Fair Value [Line Items]
Derivative, notional amount		$ 60,000,000
Derivative, term of contract		10 years
Forward Interest Rate Swap [Member] | Maximum [Member]
Derivatives, Fair Value [Line Items]
Long term debt terms		11 years

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Interest Rate Swap No. 1 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (loss) on interest rate cash flow hedges	$ 22	$ 128	$ 61	$ 211
Interest Rate Swap No. 2 [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (loss) on interest rate cash flow hedges	(270)	(166)	(606)	17
Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (loss) on interest rate cash flow hedges	$ (248)	$ (38)	$ (545)	$ 228

Financial Instruments - Summary

Financial Instruments - Summary of Fair Value Balances (Details) - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Company owned life insurance policies	[1]	$ 24,801	$ 25,397
Deferred compensation plan, assets		24,801	25,397
Deferred compensation liabilities		19,222	17,299
Deferred compensation plan, liability		19,222	17,299
Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Company owned life insurance policies	[1]	24,801	25,397
Deferred compensation plan, assets		24,801	25,397
Deferred compensation liabilities		19,222	17,299
Deferred compensation plan, liability		$ 19,222	$ 17,299
[1] (1) Company owned life insurance policies have cash surrender value and are intended to assist in funding deferred compensation liabilities and other benefit plans.

Other (Income) Expense, Net - S

Other (Income) Expense, Net - Schedule of Other (Income) Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other Income and Expenses [Abstract]
(Gain) loss on sale of assets	$ (217)	$ (129)	$ (754)	$ (33)
Results of non-consolidated subsidiaries	(68)	(62)	(99)	(199)
Foreign exchange (gain) loss, net	388	(386)	674	(530)
Rents and royalties	(795)	(110)	(801)	(255)
Return on pension assets and other pension costs	(287)	(330)	(577)	(656)
Loss on lease abandonment and other exit costs	0	0	699	641
Assets write-down	0	0	1,110	1,015
Insurance and other settlements	(1,319)	0	(2,330)	(604)
Severance and other charges	0	0	824	0
Other, net	(92)	(51)	(290)	(475)
Total other (income) expense, net	$ (2,390)	$ (1,068)	$ (1,544)	$ (1,096)

Other (Income) Expense, Net - A

Other (Income) Expense, Net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Loss on Lease Abandonment and Other Exit Costs	$ 0	$ 0	$ 699	$ 641
Assets write-down	0	0	1,110	1,015
Partial insurance settlements	$ 1,319	0	$ 2,330	604
Expropriation settlement from related party				$ 600
Insurance Settlement [Member]
Partial insurance settlements		$ 1,300

Other (Income) Expense, Net - F

Other (Income) Expense, Net - Foreign Currency (Gain) Loss, Net By Currency (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other Income Expense [Line Items]
Foreign exchange (gain) loss, net	$ 388	$ (386)	$ 674	$ (530)
British Pound [Member]
Other Income Expense [Line Items]
Foreign exchange (gain) loss, net	39	70	70	(181)
Canadian Dollar [Member]
Other Income Expense [Line Items]
Foreign exchange (gain) loss, net	34	(64)	73	(6)
Colombian Peso [Member]
Other Income Expense [Line Items]
Foreign exchange (gain) loss, net	(23)	79	(30)	132
Euro [Member]
Other Income Expense [Line Items]
Foreign exchange (gain) loss, net	47	(101)	65	(17)
Indonesia, Rupiahs [Member]
Other Income Expense [Line Items]
Foreign exchange (gain) loss, net	145	37	225	(33)
Russian Ruble [Member]
Other Income Expense [Line Items]
Foreign exchange (gain) loss, net	18	(90)	14	(341)
Turkish Lira [Member]
Other Income Expense [Line Items]
Foreign exchange (gain) loss, net	4	(443)	25	(448)
Other Currencies, Net [Member]
Other Income Expense [Line Items]
Foreign exchange (gain) loss, net	$ 124	$ 126	$ 232	$ 364

Income Tax Expense (Benefit) -

Income Tax Expense (Benefit) - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income tax expense	$ 3,609	$ (7,259)	$ 5,267	$ (6,649)
Effective income tax rate	28.20%	46.30%	29.30%	35.50%
Income loss before income tax	$ 12,799	$ 15,670	$ 17,947	$ 18,722

Earnings per Share - Summary of

Earnings per Share - Summary of Calculation of Weighted Average Shares Used in the Computation of Basic and Diluted Earnings per Share (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Weighted average common shares outstanding - basic	46,908	46,675	46,884	46,655
Restricted shares	66	91	48	88
Performance shares	769	731	730	733
Weighted average common shares outstanding - diluted	47,743	47,497	47,662	47,476

Segment Reporting - Schedule of

Segment Reporting - Schedule of Segment Reporting Information, by Segment (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) Segment	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | Segment			2
Revenue	$ 130,577	$ 127,881	$ 260,214	$ 256,237
Segment operating income	16,008	18,906	24,579	25,387
Total assets	597,799	601,848	597,799	601,848	$ 586,395
Capital expenditures	2,867	2,175	5,918	4,382
Depreciation and amortization	3,770	3,937	7,613	7,981
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
Reservoir Description [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	86,276	83,384	170,513	163,572
Segment operating income	11,443	13,316	18,336	15,787
Total assets	313,128	306,513	313,128	306,513
Capital expenditures	2,377	1,477	5,208	3,039
Depreciation and amortization	2,633	2,776	5,317	5,661
Reservoir Description [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	23	88	37	129
Production Enhancement [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	44,301	44,497	89,701	92,665
Segment operating income	4,401	5,498	5,977	8,779
Total assets	161,396	165,777	161,396	165,777
Capital expenditures	267	383	487	1,000
Depreciation and amortization	1,022	994	2,058	1,985
Production Enhancement [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	15	65	62	119
Corporate and Other [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	0	0	0	0
Segment operating income	164	92	266	821
Total assets	123,275	129,558	123,275	129,558
Capital expenditures	223	315	223	343
Depreciation and amortization	115	167	238	335
Corporate and Other [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	$ (38)	$ (153)	$ (99)	$ (248)