0000950170-23-014881.txt : 20230426 0000950170-23-014881.hdr.sgml : 20230426 20230426165556 ACCESSION NUMBER: 0000950170-23-014881 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20230426 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20230426 DATE AS OF CHANGE: 20230426 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CORE LABORATORIES N V CENTRAL INDEX KEY: 0001000229 STANDARD INDUSTRIAL CLASSIFICATION: OIL, GAS FIELD SERVICES, NBC [1389] IRS NUMBER: 000000000 STATE OF INCORPORATION: P7 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14273 FILM NUMBER: 23850562 BUSINESS ADDRESS: STREET 1: VAN HEUVEN GOEDHARTLAAN 7 B CITY: 1181 LE AMSTELVEEN STATE: P7 ZIP: 1181 LE BUSINESS PHONE: 3124203191 MAIL ADDRESS: STREET 1: 6316 WINDFERN CITY: HOUSTON STATE: TX ZIP: 77040 8-K 1 clb-20230426.htm 8-K 8-K
false00-0000000000100022900010002292023-04-262023-04-26

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 26, 2023

CORE LABORATORIES N.V.

(Exact name of registrant as specified in its charter)

The Netherlands

001-14273

Not Applicable

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

 

 

 

Van Heuven Goedhartlaan 7 B
1181 LE Amstelveen
The Netherlands

Not Applicable

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: (31-20) 420-3191

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange on which registered

Common Stock (Par Value EUR 0.02)

 

CLB

 

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 2.02 Results of Operations and Financial Condition.

On April 26, 2023, Core Laboratories N.V. issued a press release announcing its financial results for the first quarter of 2023.

Item 7.01 Regulation FD Disclosure.

On April 26, 2023, Core Laboratories N.V. issued a press release announcing a quarterly cash dividend of $0.01 per share of common stock for shareholders of record on May 8, 2023 and payable May 30, 2023.

The full text of the press release is set forth in Exhibit 99.1 attached hereto.

The information in this Report and the exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly stated by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d)

 

Exhibits

99.1 Press release issued on April 26, 2023 *

104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

* This exhibit is intended to be furnished and shall not be deemed "filed" for purposes of the Exchange Act.

 

 

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

 

 

 

 

 

 

 

Core Laboratories N.V.

 

 

 

 

 

 

 

Dated: April 26, 2023

 

By

 

/s/ Christopher S. Hill

 

 

 

 

 

 

Christopher S. Hill

 

 

 

 

 

 

Chief Financial Officer

 

 

 

 

 

 

 EX-99 2 clb-ex99_1.htm EX-99.1 EX-99

Exhibit 99.1

 

img77179564_0.jpg

FOR IMMEDIATE RELEASE

CORE LAB REPORTS FIRST QUARTER 2023 RESULTS:

•
REVENUE OF $128 MILLION; UP SLIGHTLY SEQUENTIALLY; UP 11% YEAR-OVER-YEAR
•
OPERATING INCOME OF $6.5 MILLION; EX-ITEMS OF $14.5 MILLION, FLAT SEQUENTIALLY; UP OVER 100% YEAR-OVER-YEAR
•
OPERATING MARGINS, EX-ITEMS, OF 11%, WITH YEAR-OVER-YEAR INCREMENTAL MARGINS EXCEEDING 55%
•
GAAP EPS OF $0.05; EX-ITEMS, $0.19; UP OVER 130% YEAR-OVER-YEAR
•
RESERVOIR DESCRIPTION INCREMENTAL MARGINS, EX-ITEMS, EXCEEDING 80% SEQUENTIALLY; 70% YEAR-OVER-YEAR
•
SHAREHOLDERS APPROVE REDOMESTICATION TO THE U.S.
•
COMPANY ANNOUNCES Q2 2023 QUARTERLY DIVIDEND

AMSTERDAM (26 April 2023) - Core Laboratories N.V. (NYSE: "CLB") ("Core", "Core Lab", or the "Company") reported first quarter 2023 revenue of $128,400,000. Core’s operating income was $6,500,000, with diluted earnings per share ("EPS") of $0.05, all in accordance with U.S. generally accepted accounting principles ("GAAP"). Operating income, ex-items, a non-GAAP financial measure, was $14,500,000, yielding operating margins over 11%, and EPS, ex-items, of $0.19. During the first quarter of 2023, the Company recorded: 1) approximately $6,500,000 of non-cash stock compensation expense associated with full recognition of unvested awards for employees who have reached their eligible retirement age, and 2) facility exit and consolidation expenses of $1,700,000. The facility exit and consolidation expenses are associated with Core’s continuing efforts to improve operational efficiencies and optimize Core’s global network to support its clients. A full reconciliation of non-GAAP financial measures is included in the attached financial tables.

 

Core’s CEO, Larry Bruno stated, “Built upon a foundation of an improving international market for Reservoir Description, Core’s first quarter 2023 results overcame typical seasonal decline in client activity, as well as somewhat lower-than-expected completion activity in the U.S. land market. Despite these headwinds, the Company’s revenue, operating income and operating margins were comparable to last quarter. Year-over-year, the first quarter of 2023 achieved 11% growth in revenue and, ex-items, 100% growth in operating income with 56% incremental margins. First quarter 2023 operating margins, as well as year-over-year incremental margins, were strong in both Reservoir Description and Production Enhancement.

 

Core remains intently focused on executing its key financial and operational strategies, including: 1) reducing debt and strengthening our balance sheet, 2) consistently pursuing operational efficiencies, and 3) continuing to introduce new, problem-solving technologies. For the remainder of 2023, Core sees the continuation of a multi-year recovery cycle for the oil and gas industry, led by improvement in both onshore

 

 

and offshore client activity across our global operations. The Russia-Ukraine conflict and associated sanctions continue to create volatility and some uncertainties to growth prospects in our European, Russian and Ukrainian operations.”

 

Redomestication to the United States

 

On 17 January 2023, Core Lab announced its intention to reorganize the Company’s corporate structure, which includes redomestication (the “Redomestication”) of the parent company from the Netherlands to the United States as Core Laboratories Inc., a Delaware corporation.

 

The Redomestication required a shareholder vote for approval, which was conducted through an extraordinary general meeting of the Company’s shareholders on 29 March 2023, and received an affirmative vote. The Redomestication was adopted with approximately 99.3% of votes cast in favor of the proposal, and is expected to become effective approximately 30 days following the date of the extraordinary general meeting, on or around 1 May 2023. Benefits of the Redomestication include: 1) a reduction in the corporate footprint and regulatory requirements associated with preparing duplicative audited financial statements and other reporting obligations, 2) improved efficiencies and opportunities in the Company’s corporate treasury, cash management, risk management and tax functions, and 3) a simplified and more efficient tax structure. Further information regarding the Redomestication is provided in the Company’s proxy statement/prospectus dated 28 February 2023.


Reservoir Description

Reservoir Description operations are closely correlated with trends in international and offshore activity levels, with approximately 80% of revenue sourced from projects originating outside the U.S. Reservoir Description revenue in the first quarter of 2023 was $80,200,000, up 3% sequentially and 7% year-over-year. Operating income on a GAAP basis was $2,500,000, while operating income, ex-items, was $7,800,000, yielding operating margins of 10%, which expanded approximately 200 basis points sequentially and 450 basis points year-over-year. The segment’s financial performance was underpinned by improving international client activity, which more than offset typical seasonality. Additionally, crude-oil trading patterns showed some signs of stabilizing late in the quarter; however, crude-oil assay work in the Company's European and Russian operations are still below pre-conflict levels.

During the first quarter of 2023, Core Lab’s Advanced Technology Center in the United Kingdom commenced the next phase of analytical testing on reservoir core and fluid samples from the Orange Basin, offshore Namibia. Several hundred feet of conventional core from multiple wells were recovered from various targeted reservoir intervals. The conventional cores are being scanned using Core Lab’s proprietary, non-invasive testing and reservoir optimization technologies ("NITRO™") in advance of traditional physical measurements. An extensive laboratory analysis program is also underway on reservoir fluid samples collected from these wells. This analytical program includes: 1) detailed determination of contamination levels from oil-based drilling mud filtrate, 2) compositional analysis of the hydrocarbons, and 3) measurement of the physical properties of the hydrocarbons, such as: saturation pressure, density, viscosity, gas-oil ratio and formation volume factor, all at various pressures and temperatures. The extensive reservoir rock and fluid laboratory program will assist Core’s client in expeditiously evaluating this promising new play.

 

 

 

Also during the first quarter of 2023, under the direction of a Middle East National Oil Company (“NOC”), Core Lab successfully completed a large, multi-well formation damage study. The laboratory results are essential data for an NOC that is planning a large-scale waterflood Enhanced Oil Recovery (“EOR”) program. Waterflood EOR involves injecting water into an oil reservoir to increase hydrocarbon recovery. However, to ensure that the injection water is compatible with the reservoir rocks and fluids, the water must undergo preparation that involves several steps, such as: chemical analysis, filtration, deaeration, disinfection, and chemical treatment. In the laboratory, the prepared injection water is then used for rock-fluid and fluid-fluid compatibility testing at reservoir temperatures and pressures. Core Lab's team of specialists are helping the operator to optimize the injection water properties to enhance crude-oil recovery, reduce associated processing costs, and mitigate damage from fines migration. This project illustrates how Core Lab uses innovative laboratory technologies to enable operators to recover incremental barrels of oil from existing fields. These incremental barrels of oil can be the most profitable barrels produced over the life of the field.

 

Core Lab is pleased to announce two additional client members have joined its growing, joint-industry, Carbon Capture and Sequestration (“CCS”) Consortium: EQT Production Company and BKV dCarbon Ventures, LLC. The CCS Consortium, in collaboration with Dr. Birol Dindoruk of the University of Houston, was formed to support global energy transition and decarbonization efforts. The analytical studies being conducted in the CCS Consortium are currently focused on seal integrity and containment. As the CCS Consortium’s momentum continues, Core Lab's engagement with multi-client studies and other proprietary CCS projects is growing in both the U.S. and internationally.

 

Production Enhancement

 

Production Enhancement operations, which are focused on complex completions in unconventional, tight-oil reservoirs in the U.S., as well as conventional projects across the globe, posted first quarter 2023 revenue of $48,200,000, down approximately 3% sequentially, although up 19% year-over-year. Operating income on a GAAP basis was $3,300,000, while operating income, ex-items, was $6,000,000, yielding operating margins of 13%, down 300 basis points sequentially following strong international sales in the fourth quarter of 2022. Year-over-year, operating margins expanded over 490 basis points. The segment’s results for the first quarter of 2023, reflect somewhat lower-than-expected U.S. land completion activity.

 

During the first quarter of 2023, under the direction of a Permian Basin operator, Core’s Production Enhancement experts were engaged to provide its proprietary Rapid Deployment System (“RDS™”) for a well remediation project. RDS™ offers a cost-effective solution for remediating wells when: 1) artificial lift equipment has failing valves, 2) the tubing string has become filled with sand, or 3) the well is otherwise inoperable. Core’s client utilized the RDS™ technology to remedy a tubing string that had malfunctioned and became plugged with sand, preventing the tubing from draining properly during work-over operations. The RDS™ system allowed the client to quickly create perforations that drained the working string. This was accomplished without the need for an electric wireline unit, thus reducing costs and eliminating environmental hazards associated with pulling a fluid-filled pipe. Conventional remediation methods would have required mobilizing a wireline unit and a multi-person field crew to the wellsite, resulting in lost time and increased cost to the operator. Based on the success of the RDS™ system, the client has standardized this methodology for all future well remediation projects.

 

 

 

Also during the first quarter of 2023, Core entered into a multi-year partnership with MPC Future Co., Ltd. (“MPC”) to provide energetic systems and well abandonment applications to operators in Thailand. Core’s collaboration with MPC will support the growing demand for energetic systems and well abandonment applications in the Asia-Pacific region. Initial product delivery occurred in the first quarter of 2023, and the Company is building inventory in support of this long-term contract.

 

Core’s SpectraStim™, SpectraScan®, and PackScan® downhole imaging technologies are gaining wider acceptance for evaluation of deepwater Gulf of Mexico frac pack completions. When Core’s Production Enhancement engineers processed the diagnostic data from a recent deepwater well, the results revealed a major void in the annular pack across the lower half of the screen, as well as no proppant pack across the upper 50 feet of screen. The operator chose to remove and replace the existing hardware and re-frac pack the interval, avoiding a severely damaged completion and a costly remediation program. A log of the recompletion using Core's SpectraScan® and PackScan® logging tools confirmed void-free annular packing, along with substantial proppant reserve placement above the top of the screen. In the process, a multi-million-dollar completion failure was averted.

 

Liquidity, Free Cash Flow and Dividend

Core continues to focus on maximizing free cash flow ("FCF"), a non-GAAP financial measure defined as cash from operations less capital expenditures. For the first quarter of 2023, cash used in operations was $3,200,000 and capital expenditures were $2,200,000, yielding negative FCF of $5,400,000. Cash from operations declined sequentially in the first quarter of 2023, primarily due to the following factors:

 

1. Additional cash used to fund working capital requirements. Growth in receivables is more associated with the timing of sales and invoicing as the U.S. market softened from November through February, followed by strong growth in March. Additionally, the U.S. market is also the largest market the Company serves with its product sales and the temporary slow-down in this market resulted in a build of inventory. Some of the growth in inventory is also attributable to building stock to serve large international projects planned for 2023.



2. Cash from operations was used during the first quarter of 2023 to execute facility exit and consolidation plans, which will result in annual savings of more than $1,500,000.



3. Payments for liabilities associated with certain employee retirement plans, and



4. Annual prepayment for the Company’s corporate insurance programs that would traditionally have occurred in the fourth quarter of 2022.

 

 

 


 

Core expects cash from operations to strengthen and the Company to generate positive free cash in future quarters. The Company will continue to manage investment in working capital in a period of growth. Core’s free cash will continue to be returned to its shareholders via the Company’s regular quarterly dividend, as well as being focused towards reducing long-term debt.

 

At the end of the first quarter of 2023, Core’s net debt was $166,700,000, and the Company’s leverage ratio of 2.18, which decreased from 2.29 at the end of the fourth quarter of 2022. The Company will continue applying free cash towards reducing debt until the Company reaches its target leverage ratio (calculated as total net debt divided by trailing twelve months adjusted EBITDA) of 1.5 times or lower.

On 1 February 2023, Core’s Board of Supervisory Directors ("Board") announced a quarterly cash dividend of $0.01 per share of common stock, which was paid on 6 March 2023 to shareholders of record on 13 February 2023. Dutch withholding tax was deducted from the dividend at a rate of 15%.

 

On 26 April 2023, the Board approved a cash dividend of $0.01 per share of common stock payable on 30 May 2023 to shareholders of record on 8 May 2023. The Company expects the Redomestication to be completed on or around 1 May 2023. Consequently, the Company does not expect any Dutch withholding taxes for any shareholders, or U.S. withholding taxes for U.S.-based shareholders, associated with this or any future dividends.

 

Return On Invested Capital

The Board and the Company’s Executive Management continue to focus on strategies that maximize return on invested capital ("ROIC") and FCF, factors that have high correlation to total shareholder return. Core’s commitment to an asset-light business model and disciplined capital stewardship promote capital efficiency and is designed to produce more predictable and superior long-term ROIC.

The Board has established an internal metric of demonstrating superior ROIC performance relative to the oilfield service companies listed as Core's Comp Group by Bloomberg, as the Company continues to believe superior ROIC will result in higher total shareholder return. Using Bloomberg’s formula to reflect Core's financial performance in the first quarter of 2023, indicates Core Lab's ROIC improved to 8.4%, up from 7.2% at the end of last quarter.

 

Industry and Core Lab Outlook and Guidance

Looking forward, Core sees crude-oil macro fundamentals continuing to support a multi-year recovery cycle for the oil and gas industry. For the remainder of 2023, despite recession concerns for key economies around the world, Core sees supply and demand balance tightening as the year unfolds.

 

Crude-oil demand for 2023, as forecast by the International Energy Agency in April 2023, is projected to be a record 101.9 million barrels per day, as consumption in China continues to grow. As crude-oil demand is projected to exceed pre-COVID levels, crude-oil supply is projected to tighten. With the recently announced OPEC+ production cuts, crude-oil supply will be in decline for the remainder of the year. In addition to the OPEC+ crude-oil production cuts, production growth in other areas continues to face

 

 

constraints due to prolonged underinvestment in many regions around the globe, as well as natural decline of production from existing fields. As a result, Core Lab continues to expect international operators to expand their upstream spending plans for 2023 by mid-teens compared to 2022. This supports Core's outlook for continued improvement in international onshore and offshore activity, with projects emerging and underway, most notably across the Middle East, Latin America and West Africa regions.

 

Turning to the U.S., U.S. land activity was somewhat weaker than expected in the early part of 2023. The lower-than-expected activity growth is associated with weak natural gas prices. However, Core sees on-going challenges with crude-oil supply which should require increased spending by operators to grow and replace production. While operators remain focused on capital discipline, 2023 forecasts continue to indicate U.S. upstream spending will increase approximately 15% year-over-year.

 

As result, Core projects Reservoir Description’s second quarter 2023 revenue to increase by low-single digits. Continued volatility with crude-oil trading patterns may impact Core’s Reservoir Description segment’s international growth within its Russian, Ukrainian and European operations. Production Enhancement segment revenue is estimated to increase by mid-single digits.

 

Core projects second quarter 2023 revenue to range from $130,000,000 to $135,000,000 and operating income of $14,500,000 to $17,500,000, yielding operating margins of approximately 12%. EPS for the second quarter of 2023 is expected to be $0.20 to $0.24.

 

The Company’s second quarter 2023 guidance is based on projections for underlying operations and excludes gains and losses in foreign exchange. Second quarter 2023 guidance also assumes an effective tax rate of 20%.

 

Earnings Call Scheduled

 

The Company has scheduled a conference call to discuss Core's first quarter 2023 earnings announcement. The call will begin at 7:30 a.m. CDT / 2:30 p.m. CEST on Thursday, 27 April 2023. To listen to the call, please go to Core's website at www.corelab.com.

Core Laboratories N.V. is a leading provider of proprietary and patented reservoir description and production enhancement services and products used to optimize petroleum reservoir performance. The Company has over 70 offices in more than 50 countries and is located in every major oil-producing province in the world. This release, as well as other statements we make, includes forward-looking statements regarding the future revenue, profitability, business strategies and developments, including the Redomestication of the Company made in reliance upon the safe harbor provisions of Federal securities law. The Company's outlook is subject to various important cautionary factors, including risks and uncertainties related to the oil and natural gas industry, business and general economic conditions, including inflationary pressures, the ability to achieve the benefits of the Redomestication, international markets, international political climates, including the Russia-Ukraine geopolitical conflict, public health crises, and any related actions taken by businesses and governments, and other factors as more fully described in the Company's most recent Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. These important factors could cause the Company's actual results to differ materially from those described in these forward-looking statements. Such statements are based

 

 

on current expectations of the Company's performance and are subject to a variety of factors, some of which are not under the control of the Company. Because the information herein is based solely on data currently available, and because it is subject to change as a result of changes in conditions over which the Company has no control or influence, such forward-looking statements should not be viewed as assurance regarding the Company's future performance.

 

The Company undertakes no obligation to publicly update or revise any forward-looking statement to reflect events or circumstances that may arise after the date of this press release, except as required by law.

Visit the Company's website at www.corelab.com. Connect with Core Lab on Facebook, LinkedIn and YouTube.

For more information, contact:

Gwen Gresham - SVP Corporate Development and Investor Relations, +1 713 328 6210

 

 

 

CORE LABORATORIES N.V. & SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

(Unaudited)

 

 

Three Months Ended

 

 

% Variance

 

 

March 31,
2023

 

 

December 31,
2022

 

 

March 31,
2022

 

 

vs. Q4-22

 

vs. Q1-22

REVENUE

 

$

128,356

 

 

$

127,571

 

 

$

115,300

 

 

0.6%

 

11.3%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATING EXPENSES:

 

 

 

 

 

 

 

 

 

 

 

 

 

Costs of services and product sales

 

 

101,528

 

 

 

99,816

 

 

 

96,952

 

 

1.7%

 

4.7%

General and administrative expense

 

 

16,331

 

 

 

8,724

 

 

 

12,545

 

 

87.2%

 

30.2%

Depreciation and amortization

 

 

4,044

 

 

 

4,073

 

 

 

4,557

 

 

(0.7)%

 

(11.3)%

Other (income) expense, net

 

 

(28

)

 

 

(660

)

 

 

1,637

 

 

NM

 

NM

Total operating expenses

 

 

121,875

 

 

 

111,953

 

 

 

115,691

 

 

8.9%

 

5.3%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATING INCOME (LOSS)

 

 

6,481

 

 

 

15,618

 

 

 

(391

)

 

(58.5)%

 

NM

Interest expense

 

 

3,429

 

 

 

3,081

 

 

 

2,644

 

 

11.3%

 

29.7%

Income (loss) before income taxes

 

 

3,052

 

 

 

12,537

 

 

 

(3,035

)

 

(75.7)%

 

NM

Income tax expense (benefit)

 

 

610

 

 

 

5,847

 

 

 

(1,196

)

 

(89.6)%

 

NM

Net income (loss)

 

 

2,442

 

 

 

6,690

 

 

 

(1,839

)

 

(63.5)%

 

NM

Net income (loss) attributable to non-controlling interest

 

 

69

 

 

 

(61

)

 

 

49

 

 

NM

 

NM

Net income (loss) attributable to Core Laboratories N.V.

 

$

2,373

 

 

$

6,751

 

 

$

(1,888

)

 

(64.8)%

 

NM

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings (loss) per share

 

$

0.05

 

 

$

0.14

 

 

$

(0.04

)

 

(64.3)%

 

NM

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings (loss) per share attributable to Core Laboratories N.V.

 

$

0.05

 

 

$

0.14

 

 

$

(0.04

)

 

(64.3)%

 

NM

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted weighted average common shares outstanding

 

 

47,481

 

 

 

46,826

 

 

 

46,298

 

 

1.4%

 

2.6%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effective tax rate

 

 

20

%

 

 

47

%

 

 

39

%

 

NM

 

NM

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SEGMENT INFORMATION:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

Reservoir Description

 

$

80,188

 

 

$

78,124

 

 

$

74,754

 

 

2.6%

 

7.3%

Production Enhancement

 

 

48,168

 

 

 

49,447

 

 

 

40,546

 

 

(2.6)%

 

18.8%

Consolidated

 

$

128,356

 

 

$

127,571

 

 

$

115,300

 

 

0.6%

 

11.3%

 

 

 

 

 

 

 

 

 

 

 

Operating income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

Reservoir Description

 

$

2,471

 

 

$

6,817

 

 

$

361

 

 

(63.8)%

 

584.5%

Production Enhancement

 

 

3,281

 

 

 

7,904

 

 

 

(918

)

 

(58.5)%

 

NM

Corporate and Other

 

 

729

 

 

 

897

 

 

 

166

 

 

NM

 

NM

Consolidated

 

$

6,481

 

 

$

15,618

 

 

$

(391

)

 

(58.5)%

 

NM

 

 

 

 

 

 

 

 

 

 

 

"NM" means not meaningful

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CORE LABORATORIES N.V. & SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

(Unaudited)

 

 

 

 

 

 

 

 

% Variance

ASSETS:

 

March 31,
2023

 

 

December 31,
2022

 

 

vs. Q4-22

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

16,285

 

 

$

15,428

 

 

5.6%

Accounts receivable, net

 

 

110,699

 

 

 

106,913

 

 

3.5%

Inventories

 

 

67,342

 

 

 

60,445

 

 

11.4%

Other current assets

 

 

33,601

 

 

 

28,916

 

 

16.2%

Total current assets

 

 

227,927

 

 

 

211,702

 

 

7.7%

 

 

 

 

 

 

 

 

 

Property, plant and equipment, net

 

 

102,341

 

 

 

105,028

 

 

(2.6)%

Right of use assets

 

 

56,663

 

 

 

52,379

 

 

8.2%

Intangibles, goodwill and other long-term assets, net

 

 

206,686

 

 

 

209,245

 

 

(1.2)%

Total assets

 

$

593,617

 

 

$

578,354

 

 

2.6%

 

 

 

 

 

 

 

 

 

LIABILITIES AND EQUITY:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accounts payable

 

$

38,366

 

 

$

45,847

 

 

(16.3)%

Short-term operating lease liabilities

 

 

11,073

 

 

 

11,699

 

 

(5.4)%

Other current liabilities

 

 

46,185

 

 

 

45,589

 

 

1.3%

Total current liabilities

 

 

95,624

 

 

 

103,135

 

 

(7.3)%

 

 

 

 

 

 

 

 

 

Long-term debt, net

 

 

180,440

 

 

 

172,386

 

 

4.7%

Long-term operating lease liabilities

 

 

43,793

 

 

 

38,305

 

 

14.3%

Other long-term liabilities

 

 

73,609

 

 

 

75,574

 

 

(2.6)%

 

 

 

 

 

 

 

 

 

Total equity

 

 

200,151

 

 

 

188,954

 

 

5.9%

Total liabilities and equity

 

$

593,617

 

 

$

578,354

 

 

2.6%

 

 

 

 

 

CORE LABORATORIES N.V. & SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

 

 

Three Months Ended March 31,

 

 

 

2023

 

 

2022

 

CASH FLOWS FROM OPERATING ACTIVITIES:

 

 

 

 

 

 

Net Income (loss)

 

$

2,442

 

 

$

(1,839

)

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:

 

 

 

 

 

 

Stock-based compensation

 

 

8,984

 

 

 

6,227

 

Depreciation and amortization

 

 

4,044

 

 

 

4,557

 

Deferred income taxes

 

 

936

 

 

 

1,698

 

Accounts receivable

 

 

(4,024

)

 

 

(2,831

)

Inventories

 

 

(7,126

)

 

 

(2,498

)

Accounts payable

 

 

(7,078

)

 

 

3,693

 

Other adjustments to net income (loss)

 

 

(1,347

)

 

 

(3,717

)

Net cash provided by (used in) operating activities

 

 

(3,169

)

 

 

5,290

 

 

 

 

 

 

 

 

CASH FLOWS FROM INVESTING ACTIVITIES:

 

 

 

 

 

 

Capital expenditures

 

 

(2,208

)

 

 

(2,297

)

Proceeds from insurance recovery

 

 

—

 

 

 

583

 

Other investing activities

 

 

170

 

 

 

2,142

 

Net cash provided by (used in) investing activities

 

 

(2,038

)

 

 

428

 

 

 

 

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES:

 

 

 

 

 

 

Repayment of long-term debt

 

 

(16,000

)

 

 

(14,000

)

Proceeds from long-term debt

 

 

24,000

 

 

 

15,000

 

Dividends paid

 

 

(466

)

 

 

(463

)

Repurchase of common shares

 

 

(1

)

 

 

(1,920

)

Equity related transaction costs

 

 

(1,285

)

 

 

—

 

Other financing activities

 

 

(184

)

 

 

(1

)

Net cash provided by (used in) financing activities

 

 

6,064

 

 

 

(1,384

)

 

 

 

 

 

 

 

NET CHANGE IN CASH AND CASH EQUIVALENTS

 

 

857

 

 

 

4,334

 

CASH AND CASH EQUIVALENTS, beginning of period

 

 

15,428

 

 

 

17,703

 

CASH AND CASH EQUIVALENTS, end of period

 

$

16,285

 

 

$

22,037

 

 

 

 

Non-GAAP Information

 

Management believes that the exclusion of certain income and expenses enables it to evaluate more effectively the Company's operations period-over-period and to identify operating trends that could otherwise be masked by the excluded Items. For this reason, management uses certain non-GAAP measures that exclude these Items and believes that this presentation provides a clearer comparison with the results reported in prior periods. The non-GAAP financial measures should be considered in addition to, and not as a substitute for, the financial results prepared in accordance with GAAP, as more fully discussed in the Company's financial statements and filings with the Securities and Exchange Commission.

 

Reconciliation of Operating Income (Loss), Net Income (Loss) and Diluted Earnings (Loss) Per Share

(In thousands, except per share data)

(Unaudited)

 

 

Operating Income (Loss)

 

 

 

Three Months Ended

 

 

 

March 31,
2023

 

 

December 31,
2022

 

 

March 31,
2022

 

GAAP reported

 

$

6,481

 

 

$

15,618

 

 

$

(391

)

Stock compensation (1)

 

 

6,515

 

 

 

(1,868

)

 

 

3,850

 

Loss on lease abandonment and other exit costs (2)

 

 

641

 

 

 

—

 

 

 

—

 

Assets write-down (2)

 

 

1,015

 

 

 

—

 

 

 

—

 

Severance and other charges

 

 

—

 

 

 

—

 

 

 

3,332

 

Redomestication costs

 

 

—

 

 

 

246

 

 

 

—

 

Bad debt

 

 

—

 

 

 

—

 

 

 

810

 

Foreign exchange losses (gains)

 

 

(144

)

 

 

691

 

 

 

(417

)

Excluding specific items

 

$

14,508

 

 

$

14,687

 

 

$

7,184

 

 

 

 

 

 

 

Net Income (Loss)

 

 

 

Three Months Ended

 

 

 

March 31,
2023

 

 

December 31,
2022

 

 

March 31,
2022

 

GAAP reported

 

$

2,442

 

 

$

6,690

 

 

$

(1,839

)

Stock compensation (1)

 

 

5,212

 

 

 

(1,494

)

 

 

3,850

 

Loss on lease abandonment and other exit costs (2)

 

 

513

 

 

 

—

 

 

 

—

 

Assets write-down (2)

 

 

812

 

 

 

—

 

 

 

—

 

Severance and other charges

 

 

—

 

 

 

—

 

 

 

2,666

 

Redomestication costs

 

 

—

 

 

 

197

 

 

 

—

 

Bad debt

 

 

—

 

 

 

—

 

 

 

648

 

Foreign exchange losses (gains)

 

 

(114

)

 

 

552

 

 

 

(334

)

Impact of higher (lower) tax rate (3)

 

 

—

 

 

 

3,341

 

 

 

(1,359

)

Excluding specific items

 

$

8,865

 

 

$

9,286

 

 

$

3,632

 

 

 

 

 

 

 

 

Diluted Earnings (Loss) Per Share

 

 

 

Three Months Ended

 

 

 

March 31,
2023

 

 

December 31,
2022

 

 

March 31,
2022

 

GAAP reported

 

$

0.05

 

 

$

0.14

 

 

$

(0.04

)

Stock compensation (1)

 

 

0.11

 

 

 

(0.03

)

 

 

0.08

 

Loss on lease abandonment and other exit costs (2)

 

 

0.01

 

 

 

—

 

 

 

—

 

Assets write-down (2)

 

 

0.02

 

 

 

—

 

 

 

—

 

Severance and other charges

 

 

—

 

 

 

—

 

 

 

0.06

 

Bad debt

 

 

—

 

 

 

—

 

 

 

0.01

 

Foreign exchange losses (gains)

 

 

—

 

 

 

0.02

 

 

 

(0.01

)

Impact of higher (lower) tax rate (3)

 

 

—

 

 

 

0.07

 

 

 

(0.03

)

Impact on assuming dilution

 

 

—

 

 

 

—

 

 

 

0.01

 

Excluding specific items

 

$

0.19

 

 

$

0.20

 

 

$

0.08

 

 

 

 

 

 

 

 

 

 

 

(1) Three months ended March 31, 2023 and 2022 includes stock compensation expense recognized pursuant to FASB ASC 718 "Stock Compensation" associated with employees reaching eligible retirement age, which is nondeductible for tax purposes. Three months ended December 31, 2022 includes non-cash adjustment of stock compensation expense associated with certain performance share awards that vested during the quarter.

 

(2) Three months ended March 31, 2023 includes the write-down of right of use assets and leasehold improvements and other exit costs associated with consolidation of certain facilities.

 

(3) Three months ended December 31, 2022 and March 31, 2022 include adjustments to reflect tax expense at a normalized rate of 20%.

 

 

Segment Information

(In thousands)

(Unaudited)

 

 

 

Operating Income (Loss)

 

 

 

Three Months Ended March 31, 2023

 

 

 

Reservoir Description

 

 

Production Enhancement

 

 

Corporate and Other

 

GAAP reported

 

$

2,471

 

 

$

3,281

 

 

$

729

 

Stock compensation (1)

 

 

4,156

 

 

 

2,359

 

 

 

—

 

Loss on lease abandonment and other exit costs (2)

 

 

377

 

 

 

264

 

 

 

—

 

Assets write-down (2)

 

 

958

 

 

 

—

 

 

 

57

 

Foreign exchange losses (gains)

 

 

(188

)

 

 

134

 

 

 

(90

)

Excluding specific items

 

$

7,774

 

 

$

6,038

 

 

$

696

 

(1) Stock compensation expense recognized pursuant to FASB ASC 718 "Stock Compensation" associated with executives
       reaching eligible retirement age.

 

(2) Write-down of right of use assets and leasehold improvements and other exit costs associated with consolidation of certain facilities.

 

 

Return on Invested Capital

 

Return on Invested Capital ("ROIC") is presented based on management's belief that this non-GAAP measure is useful information to investors and management when comparing profitability and the efficiency with which capital has been employed over time relative to other companies. The Board has established an internal performance metric of demonstrating superior ROIC performance relative to the oilfield service companies listed as Core's Comp Group by Bloomberg. ROIC is not a measure of financial performance under GAAP and should not be considered as an alternative to net income.

 

ROIC of 8.4% is defined by Bloomberg as Net Operating Profit After Tax ("NOPAT") of $32.6 million divided by Average Total Invested Capital ("Average TIC") of $389.4 million where NOPAT is defined as GAAP net income before non-controlling interest plus the sum of income tax expense, interest expense, and pension expense less pension service cost and tax effect on income before interest and tax expense. Average TIC is defined as the average of beginning and ending periods' GAAP stockholders' equity plus the sum of net long-term debt, lease liabilities, allowance for credit losses, net of deferred taxes, and income taxes payable.

 

 

 

Free Cash Flow

 

Core uses the non-GAAP financial measure of free cash flow to evaluate its cash flows and results of operations. Free cash flow is an important measurement because it represents the cash from operations, in excess of capital expenditures, available to operate the business and fund non-discretionary obligations. Free cash flow is not a measure of operating performance under GAAP and should not be considered in isolation nor construed as an alternative consideration to operating income, net income, or cash flows from operating, investing, or financing activities, each as determined in accordance with GAAP. Free cash flow should not be considered a measure of liquidity. Moreover, since free cash flow is not a measure determined in accordance with GAAP and thus is susceptible to varying interpretations and calculations, free cash flow as presented may not be comparable to similarly titled measures presented by other companies.

 

Computation of Free Cash Flow

(In thousands)

(Unaudited)

 

 

Three Months Ended

 

 

 

 

March 31, 2023

 

 

Net cash used in operating activities

 

$

(3,169

)

 

Capital expenditures

 

 

(2,208

)

 

Free cash flow

 

$

(5,377

)

 

 

 

 

 

###

 

 

 GRAPHIC 3 img77179564_0.jpg GRAPHIC begin 644 img77179564_0.jpg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clb-20230426_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT Entity Address, City or Town Entity Address, City or Town Soliciting Material Soliciting Material Amendment Flag Amendment Flag Entity Incorporation, State or Country Code Entity Incorporation, State or Country Code City Area Code City Area Code Document Period End Date Document Period End Date Entity Address, Postal Zip Code Entity Address, Postal Zip Code Entity File Number Entity File Number Entity Address, Address Line One Entity Address, Address Line One Entity Tax Identification Number Entity Tax Identification Number Entity Emerging Growth Company Entity Emerging Growth Company Country Region Country Region Entity Registrant Name Entity Registrant Name Pre-commencement Tender Offer Pre-commencement Tender Offer Title of 12(b) Security Document Type Document Type Written Communications Written Communications Security Exchange Name Entity Address, Country Entity Address, Country Entity Central Index Key Entity Central Index Key Local Phone Number Local Phone Number Pre-commencement Issuer Tender Offer Pre-commencement Issuer Tender Offer Cover [Abstract] Trading Symbol Trading Symbol EX-101.SCH 5 clb-20230426.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 100000 - Document - Document And Entity Information link:presentationLink link:calculationLink link:definitionLink EX-101.PRE 6 clb-20230426_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT XML 7 R1.htm IDEA: XBRL DOCUMENT v3.23.1
Document And Entity Information
Apr. 26, 2023
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Apr. 26, 2023
Entity Registrant Name CORE LABORATORIES N.V.
Entity Tax Identification Number 00-0000000
Entity Central Index Key 0001000229
Entity Emerging Growth Company false
Entity File Number 001-14273
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Address, Address Line One Van Heuven Goedhartlaan 7 B
Entity Address, City or Town Amstelveen
Entity Address, Country NL
Country Region 31
City Area Code 20
Local Phone Number 420-3191
Entity Incorporation, State or Country Code P7
Entity Address, Postal Zip Code 1181 LE
Title of 12(b) Security Common Stock (Par Value EUR 0.02)
Trading Symbol CLB
Security Exchange Name NYSE
XML 8 clb-20230426_htm.xml IDEA: XBRL DOCUMENT 0001000229 2023-04-26 2023-04-26 false 00-0000000 0001000229 8-K 2023-04-26 CORE LABORATORIES N.V. P7 001-14273 Van Heuven Goedhartlaan 7 B 1181 LE Amstelveen NL 31 20 420-3191 false false false false Common Stock (Par Value EUR 0.02) CLB NYSE false EXCEL 9 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 10 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 11 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 12 FilingSummary.xml IDEA: XBRL DOCUMENT 3.23.1 html 1 23 1 false 0 0 false 0 false false R1.htm 100000 - Document - Document And Entity Information Sheet http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation Document And Entity Information Cover 1 false false All Reports Book All Reports [EFM.6.05.45.cover-page-fact-not-visible] Submission type 8-K has 1 cover page fact(s) in ix:hidden that should be visible or referenced by an -sec-ix-hidden style property: EntityTaxIdentificationNumber - clb-20230426.htm 8 - clb-20230426.htm 8 clb-20230426.htm clb-20230426.xsd clb-20230426_lab.xml clb-20230426_pre.xml clb-ex99_1.htm http://xbrl.sec.gov/dei/2022 true false JSON 15 MetaLinks.json IDEA: XBRL DOCUMENT { "instance": { "clb-20230426.htm": { "axisCustom": 0, "axisStandard": 0, "baseTaxonomies": { "http://xbrl.sec.gov/dei/2022": 23 }, "contextCount": 1, "dts": { "inline": { "local": [ "clb-20230426.htm" ] }, "labelLink": { "local": [ "clb-20230426_lab.xml" ] }, "presentationLink": { "local": [ "clb-20230426_pre.xml" ] }, "schema": { "local": [ "clb-20230426.xsd" ], "remote": [ "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd", "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd", "http://www.xbrl.org/2003/xl-2003-12-31.xsd", "http://www.xbrl.org/2003/xlink-2003-12-31.xsd", "http://www.xbrl.org/2005/xbrldt-2005.xsd", "http://www.xbrl.org/2006/ref-2006-02-27.xsd", "https://www.xbrl.org/2020/extensible-enumerations-2.0.xsd", "https://www.xbrl.org/dtr/type/2020-01-21/types.xsd", "https://xbrl.fasb.org/srt/2022/elts/srt-2022.xsd", "https://xbrl.fasb.org/srt/2022/elts/srt-roles-2022.xsd", "https://xbrl.fasb.org/srt/2022/elts/srt-types-2022.xsd", "https://xbrl.fasb.org/us-gaap/2022/elts/us-gaap-2022.xsd", "https://xbrl.fasb.org/us-gaap/2022/elts/us-roles-2022.xsd", "https://xbrl.fasb.org/us-gaap/2022/elts/us-types-2022.xsd", "https://xbrl.sec.gov/country/2022/country-2022.xsd", "https://xbrl.sec.gov/dei/2022/dei-2022.xsd" ] } }, "elementCount": 24, "entityCount": 1, "hidden": { "http://xbrl.sec.gov/dei/2022": 3, "total": 3 }, "keyCustom": 0, "keyStandard": 23, "memberCustom": 0, "memberStandard": 0, "nsprefix": "clb", "nsuri": "http://corelab.com/20230426", "report": { "R1": { "firstAnchor": { "ancestors": [ "span", "p", "body", "html" ], "baseRef": "clb-20230426.htm", "contextRef": "C_6f6e734d-1f42-4677-89f8-4d7a71952e13", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" }, "groupType": "document", "isDefault": "true", "longName": "100000 - Document - Document And Entity Information", "menuCat": "Cover", "order": "1", "role": "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation", "shortName": "Document And Entity Information", "subGroupType": "", "uniqueAnchor": { "ancestors": [ "span", "p", "body", "html" ], "baseRef": "clb-20230426.htm", "contextRef": "C_6f6e734d-1f42-4677-89f8-4d7a71952e13", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" } } }, "segmentCount": 0, "tag": { "dei_AmendmentFlag": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.", "label": "Amendment Flag", "terseLabel": "Amendment Flag" } } }, "localname": "AmendmentFlag", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_CityAreaCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Area code of city", "label": "City Area Code", "terseLabel": "City Area Code" } } }, "localname": "CityAreaCode", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_CountryRegion": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Region code of country", "label": "Country Region", "terseLabel": "Country Region" } } }, "localname": "CountryRegion", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_CoverAbstract": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Cover page.", "label": "Cover [Abstract]" } } }, "localname": "CoverAbstract", "nsuri": "http://xbrl.sec.gov/dei/2022", "xbrltype": "stringItemType" }, "dei_DocumentPeriodEndDate": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.", "label": "Document Period End Date", "terseLabel": "Document Period End Date" } } }, "localname": "DocumentPeriodEndDate", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "xbrltype": "dateItemType" }, "dei_DocumentType": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.", "label": "Document Type", "terseLabel": "Document Type" } } }, "localname": "DocumentType", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "xbrltype": "submissionTypeItemType" }, "dei_EntityAddressAddressLine1": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Address Line 1 such as Attn, Building Name, Street Name", "label": "Entity Address, Address Line One", "terseLabel": "Entity Address, Address Line One" } } }, "localname": "EntityAddressAddressLine1", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressCityOrTown": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Name of the City or Town", "label": "Entity Address, City or Town", "terseLabel": "Entity Address, City or Town" } } }, "localname": "EntityAddressCityOrTown", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressCountry": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "ISO 3166-1 alpha-2 country code.", "label": "Entity Address, Country", "terseLabel": "Entity Address, Country" } } }, "localname": "EntityAddressCountry", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "xbrltype": "countryCodeItemType" }, "dei_EntityAddressPostalZipCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Code for the postal or zip code", "label": "Entity Address, Postal Zip Code", "terseLabel": "Entity Address, Postal Zip Code" } } }, "localname": "EntityAddressPostalZipCode", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityCentralIndexKey": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.", "label": "Entity Central Index Key", "terseLabel": "Entity Central Index Key" } } }, "localname": "EntityCentralIndexKey", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "xbrltype": "centralIndexKeyItemType" }, "dei_EntityEmergingGrowthCompany": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "Indicate if registrant meets the emerging growth company criteria.", "label": "Entity Emerging Growth Company", "terseLabel": "Entity Emerging Growth Company" } } }, "localname": "EntityEmergingGrowthCompany", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_EntityFileNumber": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.", "label": "Entity File Number", "terseLabel": "Entity File Number" } } }, "localname": "EntityFileNumber", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "xbrltype": "fileNumberItemType" }, "dei_EntityIncorporationStateCountryCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Two-character EDGAR code representing the state or country of incorporation.", "label": "Entity Incorporation, State or Country Code", "terseLabel": "Entity Incorporation, State or Country Code" } } }, "localname": "EntityIncorporationStateCountryCode", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "xbrltype": "edgarStateCountryItemType" }, "dei_EntityRegistrantName": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.", "label": "Entity Registrant Name", "terseLabel": "Entity Registrant Name" } } }, "localname": "EntityRegistrantName", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityTaxIdentificationNumber": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.", "label": "Entity Tax Identification Number", "terseLabel": "Entity Tax Identification Number" } } }, "localname": "EntityTaxIdentificationNumber", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "xbrltype": "employerIdItemType" }, "dei_LocalPhoneNumber": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Local phone number for entity.", "label": "Local Phone Number", "terseLabel": "Local Phone Number" } } }, "localname": "LocalPhoneNumber", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_PreCommencementIssuerTenderOffer": { "auth_ref": [ "r3" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.", "label": "Pre-commencement Issuer Tender Offer", "terseLabel": "Pre-commencement Issuer Tender Offer" } } }, "localname": "PreCommencementIssuerTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_PreCommencementTenderOffer": { "auth_ref": [ "r4" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.", "label": "Pre-commencement Tender Offer", "terseLabel": "Pre-commencement Tender Offer" } } }, "localname": "PreCommencementTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_Security12bTitle": { "auth_ref": [ "r0" ], "lang": { "en-us": { "role": { "documentation": "Title of a 12(b) registered security.", "label": "Title of 12(b) Security" } } }, "localname": "Security12bTitle", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "xbrltype": "securityTitleItemType" }, "dei_SecurityExchangeName": { "auth_ref": [ "r2" ], "lang": { "en-us": { "role": { "documentation": "Name of the Exchange on which a security is registered.", "label": "Security Exchange Name" } } }, "localname": "SecurityExchangeName", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "xbrltype": "edgarExchangeCodeItemType" }, "dei_SolicitingMaterial": { "auth_ref": [ "r5" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.", "label": "Soliciting Material", "terseLabel": "Soliciting Material" } } }, "localname": "SolicitingMaterial", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_TradingSymbol": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Trading symbol of an instrument as listed on an exchange.", "label": "Trading Symbol", "terseLabel": "Trading Symbol" } } }, "localname": "TradingSymbol", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "xbrltype": "tradingSymbolItemType" }, "dei_WrittenCommunications": { "auth_ref": [ "r6" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.", "label": "Written Communications", "terseLabel": "Written Communications" } } }, "localname": "WrittenCommunications", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://corelab.com/20230426/taxonomy/role/Role_DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" } }, "unitCount": 0 } }, "std_ref": { "r0": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r1": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b-2", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r2": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "d1-1", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r3": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "13e", "Subsection": "4c", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r4": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14d", "Subsection": "2b", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r5": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14a", "Subsection": "12", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r6": { "Name": "Securities Act", "Number": "230", "Publisher": "SEC", "Section": "425", "role": "http://www.xbrl.org/2003/role/presentationRef" } }, "version": "2.2" } ZIP 16 0000950170-23-014881-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0000950170-23-014881-xbrl.zip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end