Company: TISI
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0000318833-25-000057
Chunk: 22

Company: TEAM INC
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 22
---
 income (loss) before tax:Foreign currency translation adjustment7,012 (330)9,027 (3,192)     Defined benefit pension plans:       Amortization of prior service cost8 8 16 16        Amortization of net actuarial loss94 79 181 158 Other comprehensive income (loss), before tax7,114 (243)9,224 (3,018)Tax provision attributable to other comprehensive income (loss)(108)(5)(152)(5)Other comprehensive income (loss), net of tax7,006 (248)9,072 (3,023)Total comprehensive income (loss)$2,740 $(3,011)$(24,912)$(22,981)

See accompanying notes to unaudited condensed consolidated financial statements.

4 

                       TEAM, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (DEFICIT)

(in thousands)

(Unaudited)

Common StockAdditionalPaid-inCapitalAccumulated  DeficitAccumulatedOtherComprehensiveLossTotalShareholders’Equity(Deficit)SharesAmountBalance at December 31, 20244,493 $1,348 $460,186 $(415,667)$(44,129)$1,738 Net loss— — — (29,718)— (29,718)Foreign currency translation adjustment, net of tax— — — — 1,971 1,971 Defined benefit pension plans, net of tax— — — — 95 95 Non-cash compensation— — (53)— — (53)Balance at March 31, 20254,493 $1,348 $460,133 $(445,385)$(42,063)$(25,967)Net loss— — — (4,266)— (4,266)Net settlement of vested stock awards6 2 (65)— — (63)Foreign currency translation adjustment, net of tax— — — — 6,904 6,904 Defined benefit pension plans, net of tax— — — — 102 102 Non-cash compensation— — 366 — — 366 Balance at June 30, 20254,499 $