Company: TISI
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0000318833-25-000015
Chunk: 11

Company: TEAM INC
Filing Date: 2025-03-19
Form: 10-K
Item: Item 8
Chunk 11
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)109 (374)Other comprehensive income (loss), net of tax(7,197)2,065 Total comprehensive loss$(45,463)$(73,657)

See accompanying notes to consolidated financial statements.

28

  TEAM, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY

(in thousands)

CommonSharesCommonStockAdditionalPaid-inCapitalRetainedEarnings (Accumulated Deficit)AccumulatedOtherComprehensiveLossTotalShareholders’EquityBalance as of December 31, 20224,343 $1,303 $457,133 $(301,679)$(38,997)$117,760 Net loss— — — (75,722)— (75,722)Foreign currency translation adjustment, net of tax— — — — 3,028 3,028 Defined benefit pension plans, net of tax— — — — (963)(963)Non-cash compensation— — 1,590 — — 1,590 Net settlement of vested stock awards72 12 (109)— — (97)Balance as of December 31, 20234,415 1,315 458,614 (377,401)(36,932)45,596 Net loss— — — (38,266)— (38,266)Foreign currency translation adjustment, net of tax— — — — (7,323)(7,323)Defined benefit pension plans, net of tax— — — — 126 126 Non-cash compensation— — 2,273 — — 2,273 Net settlement of vested stock awards78 33 (701)— — (668)Balance as of December 31, 20244,493 $1,348 $460,186 $(415,667)$(44,129)$1,738 

See accompanying notes to consolidated financial statements.

29

TEAM, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

 Twelve Months EndedDecember 31, 20242023Cash flows from operating activities:Net loss$(38,266)$(75,722)Adjustments to reconcile net loss to net cash provided by (used in) operating activities:Depreciation