Company: TISI
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0000318833-25-000037
Chunk: 40

Company: TEAM INC
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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, legal and other non-recurring costs.Reconciliation of segment adjusted EBITDA to consolidated loss before income taxes:

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 Three Months EndedMarch 31, 20252024 (unaudited)(unaudited)IHT$11,624 $8,349 MS3,494 9,147      Segment adjusted EBITDA15,118 17,496 Segment depreciation and amortization(7,087)(7,678)Segment professional fees, severance and other(449)(542)Corporate and shared support cost(13,585)(15,662)Consolidated operating loss(6,003)(6,386)Interest expense(11,436)(12,098)Loss on debt extinguishment(11,853)— Other income/(expense)(204)1,362 Loss before income taxes$(29,496)$(17,122)    Three Months EndedMarch 31, 20252024 (unaudited)(unaudited)Capital expenditures1:IHT$1,458 $536 MS667 1,025 Corporate and shared support services14 — Total capital expenditures$2,139 $1,561 ____________1    Excludes finance leases. Totals may vary from amounts presented in the consolidated statements of cash flows due to the timing of cash payments. Three Months EndedMarch 31, 20252024 (unaudited)(unaudited)Depreciation and amortization:IHT$2,816 $3,029 MS4,271 4,649 Corporate and shared support services1,315 1,962 Total depreciation and amortization1$8,402 $9,640 ____________1    Breakdown of depreciation and amortization included in the Consolidated Statements of Operations described below: Three Months EndedMarch 31, 20252024Depreciation and amortization:Amount included in operating expenses3,102 3,583 Amount included in SG&A expenses5,300 6,057 Total depreciation and amortization$8,402 $9,640 Separate measures of our assets by operating segment are not produced or utilized by our CODM to evaluate segment performance.

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15. RELATED PARTY TRANSACTIONS

In connection with the Company’s debt transactions, the Company engaged in transactions with Corre to provide and/or repay funding as described in Note 10 - Debt.

16. SUBSEQUENT EVENTS

As