View Filing Data

2,676

499

3,778

3,192

Provision for income taxes

30,394

31,447

59,032

62,705

6,544

9,372

12,613

16,436

Net income (loss) attributable to noncontrolling interest

23,850

$ 22,569

22,075

$ 24,194

46,419

46,269

(79)

353

Net income attributable to Apergy

$ 23,779

$ 22,154

$ 46,066

$ 46,206

Earnings per share, basic

^[1]

$ 0.31

$ 0.29

$ 0.60

Earnings per share, diluted

^[1]

$ 0.31

$ 0.28

$ 0.59

Weighted-average number of shares outstanding, basic

^[1]

77,425

77,340

77,394

77,340

Weighted-average number of shares outstanding, diluted

^[1]

77,632

77,770

77,636

77,904

Product revenue

$ 273,513

$ 271,758

$ 543,047

$ 524,847

Service revenue

$ 20,831

$ 21,678

$ 41,348

$ 41,543

[1]	See Note 4—Earnings Per Share

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2019

Jun. 30, 2018

Jun. 30, 2019

Jun. 30, 2018

Foreign currency translation adjustments [Abstract]

$ 23,850

$ 22,075

$ 46,419

$ 46,269

Foreign currency translation adjustments (1)

^[1]

974

(6,874)

2,064

(8,565)

Pension and other post-retirement benefit plans [Abstract]

Net actuarial gain (loss) arising during period

170

(323)

170

Reclassification adjustment for net actuarial loss included in net income

135

Reclassification adjustment for settlement losses included in net income

355

Total pension and other post-retirement benefit plans (2)

^[2]

216

167

265

Other comprehensive income (loss)

1,042

(6,658)

2,231

(8,300)

Comprehensive income

24,892

15,417

48,650

37,969

Comprehensive income (loss) attributable to noncontrolling interest

(79)

353

Comprehensive income attributable to Apergy

$ 24,821

$ 15,496

$ 48,297

$ 37,906

[1]	Net of income tax (expense) benefit of nil for the three and six months ended June 30, 2019 and 2018.
[2]	Net of income tax (expense) benefit of $(24) and $(54) for the three months ended June 30, 2019 and 2018, respectively, and $(179) and $(38) for the six months ended June 30, 2019 and 2018, respectively.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) (Parentheticals) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income (Paranthetical) [Abstract]
Foreign currency translation adjustments, tax	$ 0	$ 0	$ 0	$ 0
Pension and other post-retirement benefit plans, tax	$ (24)	$ (54)	$ (179)	$ (38)

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents	$ 24,336	$ 41,832
Receivables, net of allowances of $3,724 in 2019 and $5,178 in 2018	256,379	249,948
Inventories, net	234,254	218,319
Prepaid expenses and other current assets	14,576	20,211
Total current assets	529,545	530,310
Property, plant and equipment, net of accumulated depreciation of $413,653 in 2019 and $392,344 in 2018	250,573	244,328
Goodwill	905,885	904,985
Intangible assets, net of accumulated amortization of $395,304 in 2019 and $380,960 in 2018	257,922	283,688
Other non-current assets	31,513	8,445
Total assets	1,975,438	1,971,756
Liabilities and Equity
Accounts payable	128,664	131,058
Accrued compensation and employee benefits	30,566	40,546
Accrued expenses and other current liabilities	41,874	30,391
Total current liabilities	201,104	201,995
Long-term debt	613,301	666,108
Deferred income taxes	91,022	101,724
Other long-term liabilities	38,274	20,402
Total liabilities	943,701	990,229
Stockholders' equity:
Common stock (2.5 billion shares authorized, $0.01 par value) 77.5 million shares and 77.4 million shares issued and outstanding in 2019 and 2018, respectively	775	774
Capital in excess of par value of common stock	968,593	965,372
Retained earnings	100,233	55,829
Accumulated other comprehensive loss	(40,675)	(42,906)
Total stockholders’ equity	1,028,926	979,069
Noncontrolling interest	2,811	2,458
Total equity	1,031,737	981,527
Total liabilities and equity	$ 1,975,438	$ 1,971,756

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) $ in Thousands, shares in Millions	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 3,724	$ 5,178
Accumulated depreciation on property, plant, and equipment	413,653	392,344
Intangible assets, accumulated amortization	$ 395,304	$ 380,960
Par value of common stock (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	2,500.0	2,500.0
Common stock, shares issued (in shares)	77.5	77.4
Common stock, shares outstanding (in shares)	77.5	77.4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (unaudited) - USD ($) $ in Thousands	Total	Common Stock, Par Value	Common Stock, Capital in excess of par value	Retained Earnings	Net Parent Investment in Apergy	Accum. Other Comp. Loss	Non-controlling Interest
Balance at Dec. 31, 2017	$ 1,640,385				$ 1,662,052	$ (26,416)	$ 4,749
Net income	24,194				24,052		142
Other comprehensive income (loss)	(1,642)					(1,642)
Net transfer to Dover	(1,635)				(1,635)
Balance at Mar. 31, 2018	1,661,302				1,685,784	(29,373)	4,891
Balance at Dec. 31, 2017	1,640,385				1,662,052	(26,416)	4,749
Net income	46,269
Other comprehensive income (loss)	(8,300)
Balance at Jun. 30, 2018	935,527	$ 773	$ 962,188	$ 7,994	0	(37,481)	2,053
Balance at Mar. 31, 2018	1,661,302				1,685,784	(29,373)	4,891
Net income	22,075			7,994	14,160		(79)
Other comprehensive income (loss)	(6,658)					(6,658)
Net transfer to Dover	(739,284)				(737,834)	(1,450)
Reclassification of Net Parent Investment	0		962,110		(962,110)
Stock Issued During Period, Value, New Issues	0	773	(773)
Stock-based compensation	851		851
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(2,720)						(2,720)
Other	(39)						(39)
Balance at Jun. 30, 2018	935,527	773	962,188	7,994	0	(37,481)	2,053
Balance at Dec. 31, 2018	981,527	774	965,372	55,829	0	(42,906)	2,458
Net income	22,569			22,287			282
Other comprehensive income (loss)	1,189					1,189
Stock-based compensation	2,285		2,285
Taxes withheld on issuance of stock-based awards	(719)		(719)
Other	14						14
Balance at Mar. 31, 2019	1,005,203	774	966,938	76,454	0	(41,717)	2,754
Balance at Dec. 31, 2018	981,527	774	965,372	55,829	0	(42,906)	2,458
Net income	46,419
Other comprehensive income (loss)	2,231
Balance at Jun. 30, 2019	1,031,737	775	968,593	100,233		(40,675)	2,811
Balance at Mar. 31, 2019	1,005,203	774	966,938	76,454	$ 0	(41,717)	2,754
Net income	23,850			23,779			71
Other comprehensive income (loss)	1,042					1,042
Stock-based compensation	2,736	1	2,735
Taxes withheld on issuance of stock-based awards	(1,080)		(1,080)
Other	(14)						(14)
Balance at Jun. 30, 2019	$ 1,031,737	$ 775	$ 968,593	$ 100,233		$ (40,675)	$ 2,811

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash provided (required) by operating activities:
Net income	$ 46,419	$ 46,269
Adjustments to reconcile net income to net cash provided (required) by operating activities:
Depreciation	34,191	35,129
Amortization	25,873	26,330
Stock-based compensation	5,021	1,361
Impairment of held-for-sale assets	1,746	0
Loss on sale of business	(2,475)	0
Deferred income taxes	(10,891)	(3,479)
Employee benefit plan expense	1,135	1,842
Other	647	1,220
Changes in operating assets and liabilities (net of effects of foreign exchange):
Receivables	(6,115)	(53,496)
Inventories	(2,290)	(15,026)
Prepaid expenses and other current assets	3,470	(7,333)
Accounts payable	(1,506)	31,361
Accrued compensation and employee benefits	(10,570)	(3,119)
Accrued expenses and other current liabilities	49	22,657
Leased assets	30,999	26,342
Other	646	1,339
Net cash provided by operating activities	59,301	58,713
Cash provided (required) by investing activities:
Capital expenditures	(22,688)	(28,938)
Proceeds from sale of fixed assets	2,475	62
Payment on sale of business	(2,194)	0
Purchase price adjustments on acquisition	0	53
Net cash required by investing activities	(22,407)	(28,823)
Cash provided (required) by financing activities:
Proceeds from long-term debt, net of discounts	4,000	713,963
Payment of debt issuance costs	0	(15,851)
Repayment of long-term debt	(54,000)	0
Distributions to Dover Corporation, net	0	(716,126)
Distribution to noncontrolling interest	0	(2,720)
Payment of finance lease obligations	(2,690)	(2,076)
Payments related to taxes withheld on stock-based compensation	(1,799)	0
Net cash required by financing activities	(54,489)	(22,810)
Effect of exchange rate changes on cash and cash equivalents	99	41
Net increase (decrease) in cash and cash equivalents	(17,496)	7,121
Cash and cash equivalents at beginning of period	41,832	23,712
Cash and cash equivalents at end of period	$ 24,336	$ 30,833

Basis of Presentation and Separation	6 Months Ended
Basis of Presentation and Separation	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Separation	BASIS OF PRESENTATION AND SEPARATION Apergy Corporation (“Apergy”) is a leading provider of highly engineered equipment and technologies that help companies drill for and produce oil and gas safely and efficiently around the world. Our products provide efficient functioning throughout the lifecycle of a well—from drilling to completion to production. We report our results of operations in the following reporting segments: Production & Automation Technologies and Drilling Technologies. Our Production & Automation Technologies segment offerings consist of artificial lift equipment and solutions, including rod pumping systems, electric submersible pump systems, progressive cavity pumps and drive systems and plunger lifts, as well as a full automation and digital offerings consisting of equipment, software and Industrial Internet of Things solutions for downhole monitoring, wellsite productivity enhancement and asset integrity management. Our Drilling Technologies segment offerings provide market leading polycrystalline diamond cutters and bearings that result in cost effective and efficient drilling. Separation and Distribution On April 18, 2018, Dover Corporation’s (“Dover”) Board of Directors approved the separation of entities conducting its upstream oil and gas energy business within Dover’s Energy segment (the “Separation”) into an independent, publicly traded company named Apergy Corporation. In accordance with the separation and distribution agreement, the two companies were separated by Dover distributing to Dover’s stockholders all 77,339,828 shares of common stock of Apergy on May 9, 2018. Each Dover shareholder received one share of Apergy stock for every two shares of Dover stock held at the close of business on the record date of April 30, 2018. Following the Separation, Dover retained no ownership interest in Apergy, and each company, as of May 9, 2018, has separate public ownership, boards of directors and management. Basis of Presentation Prior to the Separation, our results of operations, financial position and cash flows were derived from the consolidated financial statements and accounting records of Dover and reflect the combined historical results of operations, financial position and cash flows of certain Dover entities conducting its upstream oil and gas energy business within Dover’s Energy segment, including an allocated portion of Dover’s corporate costs. These financial statements have been presented as if such businesses had been combined for all periods prior to the Separation. All intercompany transactions and accounts within Dover were eliminated. The assets and liabilities were reflected on a historical cost basis since all of the assets and liabilities presented were wholly owned by Dover and were transferred within the Dover consolidated group. The statements of income also include expense allocations for certain corporate functions historically performed by Dover and not allocated to its operating segments, including corporate executive management, human resources, information technology, facilities, tax, shared services, finance and legal, including the costs of salaries, benefits and other related costs. These expense allocations were based on direct usage or benefit where identifiable, with the remainder allocated on the basis of revenue, headcount or other measures. These pre-Separation combined financial statements may not include all of the actual expenses that would have been incurred had we been a stand-alone public company during the periods presented prior to the Separation and consequently may not reflect our results of operations, financial position and cash flows had we been a stand-alone public company during the periods presented prior to the Separation. Actual costs that would have been incurred if we had been a stand-alone public company would depend on a variety of factors, including organizational structure and strategic decisions made in various areas, including information technology and infrastructure. Prior to the Separation, transactions between Apergy and Dover, with the exception of transactions discussed in Note 3—Related Party Transactions, are reflected in the condensed consolidated statements of cash flows as a financing activity in “Distributions to Dover Corporation, net.” Intercompany notes payable to Dover prior to the Separation were not settled in cash. Accordingly, no interest expense related to intercompany debt was presented in the condensed consolidated statements of income for the period presented prior to the Separation. See Note 3—Related Party Transactions for additional information. All financial information presented after the Separation represents the consolidated results of operations, financial position and cash flows of Apergy. Accordingly, our results of operations and cash flows consist of the consolidated results of Apergy during the periods ended June 30, 2019 and for the period from May 9, 2018 to June 30, 2018, and the combined results of operations and cash flows for the periods prior to May 9, 2018. Our balance sheets as of June 30, 2019 and December 31, 2018, reflect the consolidated balances of Apergy. Our management believes the assumptions underlying these condensed consolidated financial statements, including the assumptions regarding the allocation of corporate expenses from Dover for periods prior to the Separation, are reasonable. The legal transfer of the upstream oil and gas energy businesses from Dover to Apergy occurred on May 9, 2018; however, for ease of reference, and unless otherwise stated or the context otherwise requires, all references to “Apergy Corporation,” “Apergy,” “we,” “us” or “our” refer (i) prior to the Separation, to the Apergy businesses, consisting of entities, assets and liabilities conducting the upstream oil and gas business within Dover’s Energy segment and (ii) after the Separation, to Apergy Corporation and its consolidated subsidiaries. Interim Financial Information The accompanying unaudited condensed consolidated financial statements of Apergy have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission pertaining to interim financial information. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP have been condensed or omitted. Therefore, these financial statements should be read in conjunction with the audited consolidated financial statements, and notes thereto, which are included in our Annual Report on Form 10-K for the year ended December 31, 2018. The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Although these estimates are based on management’s best knowledge of current events and actions that we may undertake in the future, actual results may differ from our estimates. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments unless otherwise specified) necessary for a fair presentation of our financial condition and results of operations as of and for the periods presented. Revenue, expenses, assets and liabilities can vary during each quarter of the year. Therefore, the results and trends in these financial statements may not be representative of the results that may be expected for the year ending December 31, 2019. Change in Accounting Estimate Effective January 1, 2019, we changed our estimate of the useful lives surrounding certain equipment used within our leased asset program in our Production & Automation Technologies segment to better reflect the estimated periods in which the assets will remain in service. The estimated useful lives of the equipment, previously estimated at three years, was increased to five years. The effect of this change in estimate for the three months ended June 30, 2019, was a reduction in depreciation expense of $1.9 million, an increase in net income of $1.5 million, and an increase in basic and diluted earnings per share of $0.02 per share. The effect of this change in estimate for the six months ended June 30, 2019, was a reduction in depreciation expense of $4.0 million, an increase in net income of $3.0 million, and an increase in basic and diluted earnings per share of $0.04 per share. Revisions and Reclassifications We revised our previously issued financial statements for the six months ended June 30, 2018 related to statement of cash flow presentation of capital leases. The effect of the revisions was a decrease of $0.2 million to cash provided by operating activities, a $2.3 million decrease to cash required by investing activities and a $2.1 million increase to cash required by financing activities. Certain prior-year amounts have been reclassified to conform to the current presentation.

New Accounting Standards

6 Months Ended

Jun. 30, 2019

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

New Accounting Standards

NEW ACCOUNTING STANDARDS

Recently Adopted Accounting Standards

Effective January 1, 2019, we adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2016-02, “Leases (Topic 842).” This update requires that a lessee recognize in the statement of financial position a right-of-use asset representing its right to use the underlying asset for the lease term and a liability for future lease payments. Similar to past guidance, the update continues to differentiate between finance leases and operating leases; however, this distinction now primarily relates to differences in the manner of expense recognition over time and in the classification of lease payments in the statement of cash flows. Additionally, lessors will be required to classify leases as sales-type, finance or operating, with classification affecting the pattern of income recognition. Classification for both lessees and lessors is now based on an assessment of whether a lease contract is economically similar to the purchase of a non-financial asset from the perspective of control. The update also requires quantitative and qualitative disclosures to enable users to understand the amount, timing, and judgments related to leases and the related cash flows. We applied the provisions of this ASU to our lease contracts as of January 1, 2019, using the modified retrospective method of adoption. Prior period amounts have not been adjusted and continue to be reflected in accordance with our historical accounting policies. As of January 1, 2019, we recorded operating lease right-of-use assets of $27.0 million, operating lease liabilities of $28.7 million, and a reduction to retained earnings of $1.7 million as a result of the adoption of this guidance.

We have applied the following practical expedients and elections under the new standard:


•	We elected to utilize the package of transition practical expedients, which among other things, allowed us to carry forward our historical lease classifications for existing leases.


•	For contracts in which we are a lessee, we have elected to account for each lease component and its associated non-lease components as a single lease component.


•	We elected to utilize the short term lease exemption for lease contracts with a term of less than 12 months. These contracts are excluded from the measurement of our right-of-use assets and lease liabilities and are recognized in earnings on a straight-line basis over their lease term.


•	We elected to utilize the practical expedient to exclude sales tax from the measurement of lease revenue.

Lessee accounting—Lease liabilities are measured at the lease commencement date and are based on the present value of remaining payments contractually required under the contract. Payments that are variable in nature are excluded from the measurement of our lease liabilities and are recorded as an expense as incurred. Options to renew or extend a lease are included in the measurement of our lease liabilities only when it is reasonably certain that we will exercise these rights. In estimating the present value of our lease liabilities, payments are discounted at our incremental borrowing rate (“IBR”), which has been applied utilizing a portfolio approach. We utilized information publicly available from companies within our industry with similar credit profiles to construct a company-specific yield curve in order to estimate the rate of interest we would pay to borrow at various lease terms. At lease commencement, we recognize a lease right-of-use asset equal to our lease liability, adjusted for lease payments paid to the lessor prior to the lease commencement date, and any initial direct costs incurred. Operating lease expense is recorded on a straight-line basis over the lease term. For finance leases, we amortize our right-of-use assets on a straight-line basis over the shorter of the asset’s useful life or the lease term. Additionally, interest expense is recognized each period related to the accretion of our lease liabilities over their respective lease terms.

Lessor accounting—Our lease contracts generally allow customers to rent equipment on a daily basis with no stated end date. Customers may return the equipment at any point subsequent to the lease commencement date without penalty. We account for these arrangements as a daily renewal option beginning on the lease commencement date, with the lease term determined as the period in which it is reasonably certain the option will be exercised. Based on our assessment of the lease classification criteria, our lease contracts have been classified as operating leases. Our lease contracts generally include lease and non-lease components for which each component’s standalone price is separately stated within the contract. Lease revenue is recognized on a straight-line basis over the term of the lease. Non-lease revenue is recognized in accordance with our revenue recognition accounting policy. Assets in our lease program are reported in “Property, plant, and equipment, net” on our condensed consolidated balance sheets and are depreciated over their estimated useful lives.

See Note 11—Leases for additional information related to our lease accounting. See Note 18—Cash Flow Information for additional information regarding the presentation of our leases within our condensed consolidated statements of cash flows.

Recently Issued Accounting Standards

In June 2016, the FASB issued ASU 2016-13, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The update amends the impairment model to utilize an expected loss methodology in place of the currently used incurred loss methodology, which may result in earlier recognition of losses related to financial instruments. The guidance will be effective for us on January 1, 2020. Early adoption is permitted for annual periods beginning after December 15, 2018. We do not expect the adoption of this ASU to have a material impact on our financial statements.

In August 2018, the FASB issued ASU 2018-15, “Intangibles—Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract.” The amendments in this update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The accounting for the service element of a hosting arrangement that is a service contract is not affected by the amendments in this update. The amendments in this update are effective for interim and annual periods beginning on January 1, 2020, with early adoption permitted. The amendments in this update should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. We are in the process of assessing the impacts the guidance will have on our financial statements.

Related Party Transactions	6 Months Ended
Related Party Transactions	Jun. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	RELATED PARTY TRANSACTIONS Prior to the Separation, Dover provided certain services to us including corporate executive management, human resources, information technology, facilities, tax, shared services, finance and legal services. Dover continued to provide us certain of these services on a temporary basis following the Separation under a transition services agreement. Under the transition services agreement, Apergy paid a fee to Dover for services rendered under the transition services agreement, which fee was intended to allow Dover to recover all of its direct and indirect costs generally without profit. The transition services agreement was terminated on January 31, 2019, consistent with the initial term provided within the agreement. Financial information presented prior to the Separation does not include all the expenses that would have been incurred had Apergy been a stand-alone public company. The corporate expenses allocated by Dover to these financial statements were $1.6 million and $7.4 million for the three and six month periods ended June 30, 2018, respectively, which were recorded in “Selling, general and administrative expense” in the condensed consolidated statements of income. For periods prior to the Separation, transactions between Apergy and Dover are reflected in “Distributions to Dover Corporation, net” in the condensed consolidated statement of cash flows for the six months ended June 30, 2018, as a financing activity. Revenue with Dover and its affiliates were not material for the periods presented. We recognized royalty expense of $2.3 million for the six months ended June 30, 2018, related to the use of Dover’s intellectual property and patents which was included in “Other expense, net” in the condensed consolidated statement of income. On April 1, 2018, patents and other intangibles owned by Dover related to our operations transferred to Apergy, and consequently, Apergy no longer incurred royalty charges related to these assets from Dover.

Earnings per Share

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

On May 9, 2018, 77,339,828 shares of our common stock were distributed to Dover stockholders in conjunction with the Separation. See Note 1—Basis of Presentation and Separation for additional information. For comparative purposes, and to provide a more meaningful calculation of weighted-average shares outstanding, we have assumed the shares issued in conjunction with the Separation to be outstanding as of the beginning of each period prior to the Separation. In addition, we have assumed the potential dilutive securities outstanding as of May 8, 2018, were outstanding and fully dilutive in each of the periods with positive income prior to the Separation.

A reconciliation of the number of shares used for the basic and diluted earnings per share calculation was as follows:



	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except per share data)	2019		2018		2019		2018
Net income attributable to Apergy	$	23,779	$	22,154	$	46,066	$	46,206

Weighted-average number of shares outstanding	77,425		77,340		77,394		77,340
Dilutive effect of stock-based compensation	207		430		242		564
Total shares and dilutive securities	77,632		77,770		77,636		77,904

Basic earnings per share attributable to Apergy	$	0.31	$	0.29	$	0.60	$	0.60
Diluted earnings per share attributable to Apergy	$	0.31	$	0.28	$	0.59	$	0.59

Dispositions (Notes)	6 Months Ended
Dispositions (Notes)	Jun. 30, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	DISPOSITIONS During March 2019, we classified our pressure vessel manufacturing business in our Production & Automated Technologies segment as held for sale. We recognized an impairment loss of $1.7 million during the six months ended June 30, 2019, which was recorded in “Selling, general and administrative expense” in the condensed consolidated statement of income, to adjust the carrying amount of the disposal group to fair value. See Note 15—Fair Value Measurements for additional information. In June 2019, we completed the sale of our pressure vessel manufacturing business and made a cash payment of $2.2 million, resulting in a loss on disposition of $2.5 million, which was recorded in “Other expense, net” in the condensed consolidated statement of income for the three and six month periods ended June 30, 2019.

Inventories

6 Months Ended

Jun. 30, 2019

Inventory, Net [Abstract]

Inventories

INVENTORIES

Inventories consisted of the following:



(in thousands)	June 30, 2019			December 31, 2018
Raw materials	$	55,817		$	52,057
Work in progress	13,273			11,416
Finished goods	189,090			180,624
	258,180			244,097
LIFO and valuation adjustments	(23,926		)	(25,778		)
Inventories, net	$	234,254		$	218,319

Debt

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Debt

DEBT

Long-term debt consisted of the following:



(in thousands)	June 30, 2019			December 31, 2018
Revolving credit facility	$	—		$	—
Term loan facility	320,000			370,000
6.375% Senior Notes due 2026	300,000			300,000
Finance lease obligations	3,844			7,485
Total	623,844			677,485
Net unamortized discounts and issuance costs	(10,543		)	(11,377		)
Total long-term debt	$	613,301		$	666,108

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Guarantees and Indemnifications We have provided indemnities in connection with sales of certain businesses and assets, including representations and warranties, covenants and related indemnities for environmental health and safety, tax and employment matters. We do not have any material liabilities recorded for these indemnifications and are not aware of any claims or other information that would give rise to material payments under such indemnities. In connection with the Separation, we entered into agreements with Dover that govern the treatment between Dover and us for certain indemnification matters and litigation responsibility. Generally, the separation and distribution agreement provides for cross-indemnities principally designed to place financial responsibility for the obligations and liabilities of our business with us and to place financial responsibility for the obligations and liabilities of Dover’s business with Dover. The separation and distribution agreement also establishes procedures for handling claims subject to indemnification and related matters. In addition, pursuant to the tax matters agreement, we have agreed to indemnify Dover and its affiliates against any and all tax-related liabilities incurred by them relating to the Separation and/or certain related transactions to the extent caused by an acquisition of Apergy stock or assets or by any other action or failure to act undertaken by Apergy or its affiliates. As of June 30, 2019 and December 31, 2018, we had $11.1 million and $3.6 million, respectively, of outstanding letters of credit, surety bonds and guarantees which expire at various dates through 2025. These financial instruments are primarily maintained as security for insurance, warranty and other performance obligations. Generally, we would only be liable for the amount of these letters of credit and surety bonds in the event of default in the performance of our obligations, the probability of which we believe is remote. Litigation We are involved in various pending or potential legal actions in the ordinary course of our business. These proceedings primarily involve claims by private parties alleging injury arising out of use of our products, patent infringement, employment matters, and commercial disputes. We review the probable outcome of such proceedings, the costs and expenses reasonably expected to be incurred and accrued to-date, and the availability and extent of insurance coverage. We accrue a liability for legal matters that are probable and estimable, and as of June 30, 2019 and December 31, 2018, these liabilities were not material. Management is unable to predict the ultimate outcome of these actions because of the inherent uncertainty of litigation. However, management believes the most probable, ultimate resolution of these matters will not have a material adverse effect on our consolidated financial position, results of operations or cash flows. Environmental matters that are probable and estimable were not material as of June 30, 2019 and December 31, 2018. Environmental matters relate to ongoing remedial activities performed in cooperation with regulatory authorities.

Stockholders' Equity

6 Months Ended

Jun. 30, 2019

Stockholders' Equity Note [Abstract]

Stockholders' Equity

STOCKHOLDERS' EQUITY

Capital stock—The following is a summary of our capital stock activity:



(in thousands)	Common Stock
March 31, 2018	—
Issuance of common stock	77,340
June 30, 2018	77,340



(in thousands)	Common Stock
December 31, 2018	77,353
Shares issued—share-based compensation	39
March 31, 2019	77,392
Shares issued—share-based compensation	67
June 30, 2019	77,459

Accumulated other comprehensive loss—Accumulated other comprehensive loss consisted of the following:



(in thousands)	Foreign Currency Translation			Defined Pension and Other Post-Retirement Benefits			Accumulated Other Comprehensive Loss
December 31, 2017	$	(21,936	)	$	(4,480	)	$	(26,416	)
Reclassification adjustment for cumulative effect of change in accounting principle	—			(1,315		)	(1,315		)
Other comprehensive loss before reclassifications, net of tax	(1,691		)	—			(1,691		)
Reclassification adjustment for net losses included in net income, net of tax	—			49			49
Other comprehensive income (loss), net of tax	(1,691		)	49			(1,642		)
March 31, 2018	(23,627		)	(5,746		)	(29,373		)
Net transfer from Dover	—			(1,450		)	(1,450		)
Other comprehensive income (loss) before reclassifications, net of tax	(6,874		)	170			(6,704		)
Reclassification adjustment for net losses included in net income, net of tax	—			46			46
Other comprehensive income (loss), net of tax	(6,874		)	216			(6,658		)
June 30, 2018	$	(30,501	)	$	(6,980	)	$	(37,481	)



(in thousands)	Foreign Currency Translation			Defined Pension and Other Post-Retirement Benefits			Accumulated Other Comprehensive Loss
December 31, 2018	$	(36,146	)	$	(6,760	)	$	(42,906	)
Other comprehensive income (loss) before reclassifications, net of tax	1,090			(323		)	767
Reclassification adjustment for net losses included in net income, net of tax	—			422			422
Other comprehensive income, net of tax	1,090			99			1,189
March 31, 2019	(35,056		)	(6,661		)	(41,717		)
Other comprehensive income before reclassifications, net of tax	974			—			974
Reclassification adjustment for net losses included in net income, net of tax	—			68			68
Other comprehensive income, net of tax	974			68			1,042
June 30, 2019	$	(34,082	)	$	(6,593	)	$	(40,675	)

Reclassifications from accumulated other comprehensive loss—Reclassification adjustments from accumulated other comprehensive loss to net income related to defined pension and other post-retirement benefits consisted of the following:



	Three Months Ended June 30,						Six Months Ended June 30,						Affected line items on the condensed consolidated statements of income
(in thousands)	2019			2018			2019			2018
Amortization of actuarial loss and other ⁽¹⁾	$	92		$	61		$	183		$	126		Other expense, net
Settlement loss ⁽¹⁾	—			—			486			—			Other expense, net
Total before tax	92			61			669			126			Income before income taxes
Tax benefit	(24		)	(15		)	(179		)	(31		)	Provision for income taxes
	$	68		$	46		$	490		$	95		Net income

_______________________

(1) These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost (See Note 13—Employee Benefit Plans for additional information).

Revenue

6 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Abstract]

Lessor and Lessee Leases [Text Block]

REVENUE

Disaggregation of Revenue

Revenue disaggregated by end market in each of our reporting segments was as follows:



	Three Months Ended June 30,						Six Months Ended June 30,
(in thousands)	2019			2018			2019			2018
Drilling Technologies	$	70,351		$	65,242		$	147,886		$	134,473
Production & Automation Technologies:
Artificial lift	182,770			188,500			354,874			355,430
Digital products	34,306			30,516			65,596			55,513
Other production equipment	18,833			21,846			39,838			44,064
Intra-segment eliminations	(206		)	(254		)	(449		)	(504		)
	235,703			240,608			459,859			454,503
Total revenue	$	306,054		$	305,850		$	607,745		$	588,976

Revenue disaggregated by geography was as follows:



	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2019		2018		2019		2018
United States	$	236,936	$	239,310	$	469,491	$	459,752
Canada	15,870		15,296		34,785		37,880
Middle East	14,439		16,108		28,043		26,446
Europe	13,091		11,158		30,050		20,180
Latin America	9,379		9,047		17,101		16,733
Asia-Pacific	7,865		4,115		13,410		10,185
Other	8,474		10,816		14,865		17,800
Total revenue	$	306,054	$	305,850	$	607,745	$	588,976

Revenue is attributed to regions based on the location of our direct customer, which in some instances is an intermediary and not necessarily the end user.

Contract balances

Contract assets and contract liabilities from contracts with customers were as follows:



(in thousands)	June 30, 2019		December 31, 2018
Contract assets	$	2,655	$	4,571
Contract liabilities - current	7,843		5,863

Leases (Notes)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

LEASES

Lessee Accounting

We have operating and finance leases for real estate, vehicles and equipment. Certain of our vehicle leases include residual value guarantees, which have been excluded from the measurement of our lease liabilities as we do not believe it is probable they will be paid at the end of the lease. Our real estate and vehicle leases will generally include options to renew or extend the lease term at our discretion. These options are included in the measurement of our lease liabilities only when it is reasonably certain that we will exercise these rights.

Balance sheet presentation—Leases are presented in our condensed consolidated balance sheet as follows:



(in thousands)	Balance Sheet Classification	June 30, 2019
Right-of Use Assets:
Finance leases	Property, plant, and equipment, net	$	8,008
Operating leases	Other non-current assets	23,275
Total lease right-of-use assets		31,283
Lease Liabilities:
Finance leases - current	Accrued expenses and other current liabilities	4,411
Finance leases	Long-term debt	3,844
Operating leases - current	Accrued expenses and other current liabilities	8,460
Operating leases	Other long-term liabilities	18,096
Total lease liabilities		$	34,811

Components of total lease cost—Components of total lease cost were as follows:



(in thousands)	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019
Finance lease cost:
Amortization of right-of-use assets	$	1,349		$	2,676
Interest on lease liabilities	113			233
Operating lease cost	3,161			5,838
Short-term lease cost	907			1,922
Variable lease cost	1,014			2,061
Sublease income	(145		)	(234		)
Total net lease cost	$	6,399		$	12,496

Lease term and discount rate—Our weighted-average remaining lease term and weighted-average discount rate for operating and finance leases are as follows:



	June 30, 2019
Weighted-average remaining lease term (years):
Operating lease	4.5
Finance lease	2.1
Weighted-average discount rate:
Operating lease	6.6	%
Finance lease	5.2	%

Maturity Analysis—Future minimum payments on our operating and finance leases as of June 30, 2019 are as follows:



(in thousands)	Operating			Finance
2019	$	5,413		$	2,524
2020	7,699			3,760
2021	4,549			2,023
2022	3,850			324
2023	3,385			67
Thereafter	6,926			2
Total future minimum lease payments	31,822			8,700
Interest included within lease payments	(5,266		)	(445		)
Total lease liabilities	$	26,556		$	8,255

Lessor Accounting

Lease revenue is primarily generated from our electric submersible pump (“ESP”) leased asset program within our Production & Automation Technologies segment. Our lease contracts generally allow customers to rent equipment on a daily basis with no stated end date. Customers may return the equipment at any point subsequent to the lease commencement date without penalty. We account for these arrangements as a daily renewal option beginning on the lease commencement date, with the lease term determined as the period in which it is reasonably certain the option will be exercised. The average length of these arrangements generally range from six months to nine months.

Leased assets—Components of our leased assets are as follows:



(in thousands)	June 30, 2019
Property, plant, and equipment	$	170,053
Accumulated depreciation	(68,341		)
Property, plant, and equipment, net	$	101,712

Depreciation expense on our leased assets was $9.1 million and $17.8 million for the three month and six month periods ended June 30, 2019, respectively.

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Prior to the Separation, the operations of Apergy were included in Dover’s U.S. combined federal and state income tax returns. Consequently, income tax expense is presented for the pre-Separation periods as if Apergy filed its own tax returns in each jurisdiction and include tax losses and tax credits that may not reflect tax positions taken by Dover. In many cases, tax losses and tax credits generated by Apergy prior to the Separation have been utilized by Dover. Our income tax provision reflected effective tax rates of 21.5% and 29.8% for the three months ended June 30, 2019 and 2018, respectively, and 21.4% and 26.2% for the six months ended June 30, 2019 and 2018, respectively. The year-over-year decrease in the effective tax rates was primarily due to tax benefits for foreign tax basis step-up, stock compensation, and favorable U.S. state tax rate changes.

Employee Benefit Plans	6 Months Ended
Employee Benefit Plans	Jun. 30, 2019
Defined Benefit Plan [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS Prior to the Separation, certain of our employees participated in defined benefit and non-qualified plans sponsored by Dover, which included participants of other Dover subsidiaries. For periods prior to the Separation, we accounted for such plans as multi-employer benefit plans and recorded a proportionate share of the cost in our condensed consolidated statements of income. Total net periodic benefit cost was $0.4 million and $1.0 million for the three months ended June 30, 2019 and 2018, respectively, and $1.1 million and $1.8 million for the six months ended June 30, 2019 and 2018, respectively. Prior to the Separation, our net periodic benefit costs included benefit costs associated with plans accounted for as single-employer plans and an allocation from Dover Corporation for plans accounted for as multi-employer plans. After the Separation, total net periodic benefit costs include all costs associated with the plans we sponsor, including plans that transferred to Apergy.

Equity and Cash Incentive Program

6 Months Ended

Jun. 30, 2019

Share-based Payment Arrangement, Noncash Expense [Abstract]

Equity and Cash Incentive Program

EQUITY AND CASH INCENTIVE PROGRAM

Prior to the Separation, Dover granted share-based awards to its officers and other key employees, including certain Apergy individuals. All awards granted under the program consisted of Dover common shares and are not necessarily indicative of the results that Apergy would have experienced as a stand-alone public company for the periods presented prior to the Separation. Effective with the Separation, outstanding Dover share-based awards were converted to Apergy share-based awards, with the exception of outstanding Dover performance share awards that relate to performance periods ending after the Separation. Such performance share awards were cancelled effective with the Separation.

Stock-based compensation expense is reported within “Selling, general and administrative expense” in the condensed consolidated statements of income. Stock-based compensation expense relating to all stock-based incentive plans was as follows:



	Three Months Ended June 30,						Six Months Ended June 30,
(in thousands)	2019			2018			2019			2018
Stock-based compensation expense	$	2,736		$	851		$	5,021		$	1,361
Tax benefit	(668		)	(183		)	(1,226		)	(296		)
Stock-based compensation expense, net of tax	$	2,068		$	668		$	3,795		$	1,065

A summary of activity relating to our share-based awards for the six months ended June 30, 2019, is as follows:



(in shares)	Stock-Settled Appreciation Rights		Performance Share Awards	Restricted Stock Units
Outstanding at January 1, 2019	477,950		86,817	414,840
Granted	—		92,919	154,196
Forfeited	(2,636	)	—	(4,526	)
Exercised / Vested	(42,474	)	—	(140,944	)
Outstanding at June 30, 2019	432,840		179,736	423,566

Fair Value Measurements (Notes)	6 Months Ended
Fair Value Measurements (Notes)	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS We had no outstanding derivative contracts as of June 30, 2019 and December 31, 2018. Other assets and liabilities measured at fair value on a recurring basis as of June 30, 2019 and December 31, 2018, were not significant; thus, no fair value disclosures are presented. The fair value, based on Level 1 quoted market rates, of our Senior Notes was approximately $304.9 million at June 30, 2019, as compared to the $300.0 million face value of the debt. The fair value, based on Level 2 quoted market rates, of our term loan facility was approximately $319.4 million at June 30, 2019, as compared to the $320.0 million face value of the debt. The carrying amounts of cash and cash equivalents, trade receivables, accounts payable, as well as amounts included in other current assets and other current liabilities that meet the definition of financial instruments, approximate fair value due to their short-term nature. Impairment of Assets Held For Sale In March 2019, we classified our pressure vessel manufacturing business in our Production & Automation Technologies segment as held for sale and recognized an impairment loss of $1.7 million to adjust the carrying amount of the disposal group to fair value. The fair value was determined by a negotiated selling price through a non-binding expression of interest with a third party, a Level 3 input. We completed the sale of our pressure vessel manufacturing business in June 2019. See Note 5—Dispositions for additional information. Credit Risk By their nature, financial instruments involve risk, including credit risk, for non-performance by counterparties. Financial instruments that potentially subject us to credit risk primarily consist of trade receivables. We manage the credit risk on financial instruments by transacting only with what management believes are financially secure counterparties, requiring credit approvals and credit limits, and monitoring counterparties’ financial condition. Our maximum exposure to credit loss in the event of non-performance by the counterparty is limited to the amount drawn and outstanding on the financial instrument. Allowances for losses on trade receivables are established based on collectability assessments.

Condensed Financial Information Disclosure [Abstract]

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Segment Information

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

We report our results of operations in the following reporting segments: Production & Automation Technologies and Drilling Technologies. Segment revenue and segment operating profit were as follows:



	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2019		2018		2019		2018
Segment revenue:
Production & Automation Technologies	$	235,703	$	240,608	$	459,859	$	454,503
Drilling Technologies	70,351		65,242		147,886		134,473
Total revenue	$	306,054	$	305,850	$	607,745	$	588,976

Income before income taxes:
Segment operating profit:
Production & Automation Technologies	$	20,919	$	23,225	$	37,082	$	33,097
Drilling Technologies	24,251		21,340		51,057		45,529
Total segment operating profit	45,170		44,565		88,139		78,626
Corporate expense and other ⁽¹⁾	4,719		7,056		8,576		9,692
Interest expense, net	10,057		6,062		20,531		6,229
Income before income taxes	$	30,394	$	31,447	$	59,032	$	62,705

_______________________


(1)	Corporate expense and other includes costs not directly attributable or allocated to our reporting segments such as corporate executive management and other administrative functions, costs related to our Separation from Dover and the results attributable to our noncontrolling interest.

Condensed Consolidating Financial Statements (Notes)

6 Months Ended

Jun. 30, 2019

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

CONDENSED CONSOLIDATING FINANCIAL INFORMATION

Apergy Corporation has senior notes outstanding, the payment obligations of which are fully and unconditionally guaranteed by certain 100-percent-owned subsidiaries of Apergy on a joint and several basis. The following financial information presents the results of operations, financial position and cash flows for:


•	Apergy Corporation (issuer);


•	100-percent-owned guarantor subsidiaries;


•	All other non-guarantor subsidiaries; and


•	Adjustments and eliminations necessary to present Apergy results on a consolidated basis.

This condensed consolidating financial information should be read in conjunction with the accompanying condensed consolidated financial statements and related notes.



	Three Months Ended June 30, 2019
(in thousands)	Apergy Corporation			Subsidiary Guarantors		Subsidiary Non-guarantors			Adjustments and eliminations			Total
Product revenue	$	—		$	244,889	$	28,624		$	—		$	273,513
Service revenue	—			13,393		7,438			—			20,831
Lease, related party and other revenue	—			16,964		5,735			(10,989		)	11,710
Total revenue	—			275,246		41,797			(10,989		)	306,054
Cost of goods and services	—			171,686		35,558			(10,959		)	196,285
Gross profit	—			103,560		6,239			(30		)	109,769
Selling, general and administrative expense	82			60,861		5,699			—			66,642
Interest expense, net	9,961			88		8			—			10,057
Other expense, net	—			2,656		25			(5		)	2,676
Income (loss) before income taxes and equity in earnings of affiliates	(10,043		)	39,955		507			(25		)	30,394
Provision for (benefit from) income taxes	(2,364		)	10,245		(1,331		)	(6		)	6,544
Income (loss) before equity in earnings of affiliates	(7,679		)	29,710		1,838			(19		)	23,850
Equity in earnings of affiliates	31,458			4,165		5,421			(41,044		)	—
Net income	23,779			33,875		7,259			(41,063		)	23,850
Net income attributable to noncontrolling interest	—			—		71			—			71
Net income attributable to Apergy	$	23,779		$	33,875	$	7,188		$	(41,063	)	$	23,779
Comprehensive income attributable to Apergy	$	24,821		$	33,718	$	8,390		$	(42,108	)	$	24,821



	Three Months Ended June 30, 2018
(in thousands)	Apergy Corporation			Subsidiary Guarantors		Subsidiary Non-guarantors			Adjustments and eliminations			Total
Product revenue	$	—		$	238,065	$	33,693		$	—		$	271,758
Service revenue	—			15,613		6,065			—			21,678
Lease, related party and other revenue	—			18,967		5,438			(11,991		)	12,414
Total revenue	—			272,645		45,196			(11,991		)	305,850
Cost of goods and services	—			174,663		39,499			(11,991		)	202,171
Gross profit	—			97,982		5,697			—			103,679
Selling, general and administrative expense	1,502			58,773		5,396			—			65,671
Interest expense, net	6,002			51		9			—			6,062
Other expense, net	—			4		495			—			499
Income (loss) before income taxes and equity in earnings of affiliates	(7,504		)	39,154		(203		)	—			31,447
Provision for (benefit from) income taxes	(1,643		)	8,456		2,559			—			9,372
Income (loss) before equity in earnings of affiliates	(5,861		)	30,698		(2,762		)	—			22,075
Equity in earnings of affiliates	28,015			7,472		18,411			(53,898		)	—
Net income	22,154			38,170		15,649			(53,898		)	22,075
Net loss attributable to noncontrolling interest	—			—		(79		)	—			(79		)
Net income attributable to Apergy	$	22,154		$	38,170	$	15,728		$	(53,898	)	$	22,154
Comprehensive income attributable to Apergy	$	15,496		$	40,289	$	6,938		$	(47,227	)	$	15,496



	Six Months Ended June 30, 2019
(in thousands)	Apergy Corporation			Subsidiary Guarantors		Subsidiary Non-guarantors			Adjustments and eliminations			Total
Product revenue	$	—		$	488,026	$	55,021		$	—		$	543,047
Service revenue	—			26,735		14,613			—			41,348
Lease, related party and other revenue	—			32,402		10,860			(19,912		)	23,350
Total revenue	—			547,163		80,494			(19,912		)	607,745
Cost of goods and services	—			343,344		69,143			(20,060		)	392,427
Gross profit	—			203,819		11,351			148			215,318
Selling, general and administrative expense	143			120,578		11,256			—			131,977
Interest expense, net	20,289			224		18			—			20,531
Other expense, net	—			2,963		815			—			3,778
Income (loss) before income taxes and equity in earnings of affiliates	(20,432		)	80,054		(738		)	148			59,032
Provision for (benefit from) income taxes	(4,738		)	18,941		(1,622		)	32			12,613
Income (loss) before equity in earnings of affiliates	(15,694		)	61,113		884			116			46,419
Equity in earnings of affiliates	61,760			9,048		12,174			(82,982		)	—
Net income	46,066			70,161		13,058			(82,866		)	46,419
Net income attributable to noncontrolling interest	—			—		353			—			353
Net income attributable to Apergy	$	46,066		$	70,161	$	12,705		$	(82,866	)	$	46,066
Comprehensive income attributable to Apergy	$	48,297		$	70,671	$	14,431		$	(85,102	)	$	48,297



	Six Months Ended June 30, 2018
(in thousands)	Apergy Corporation			Subsidiary Guarantors		Subsidiary Non-guarantors			Adjustments and eliminations			Total
Product revenue	$	—		$	463,316	$	61,531		$	—		$	524,847
Service revenue	—			28,588		12,955			—			41,543
Lease, related party and other revenue	—			34,466		9,486			(21,366		)	22,586
Total revenue	—			526,370		83,972			(21,366		)	588,976
Cost of goods and services	—			339,098		73,243			(20,659		)	391,682
Gross profit	—			187,272		10,729			(707		)	197,294
Selling, general and administrative expense	1,502			112,880		10,786			—			125,168
Interest expense, net	6,002			204		23			—			6,229
Other expense, net	—			2,776		416			—			3,192
Income (loss) before income taxes and equity in earnings of affiliates	(7,504		)	71,412		(496		)	(707		)	62,705
Provision for (benefit from) income taxes	(1,643		)	15,168		3,059			(148		)	16,436
Income (loss) before equity in earnings of affiliates	(5,861		)	56,244		(3,555		)	(559		)	46,269
Equity in earnings of affiliates	52,067			12,945		24,445			(89,457		)	—
Net income	46,206			69,189		20,890			(90,016		)	46,269
Net income attributable to noncontrolling interest	—			—		63			—			63
Net income attributable to Apergy	$	46,206		$	69,189	$	20,827		$	(90,016	)	$	46,206
Comprehensive income attributable to Apergy	$	37,906		$	71,694	$	10,023		$	(81,717	)	$	37,906



	June 30, 2019
(in thousands)	Apergy Corporation		Subsidiary Guarantors		Subsidiary Non-guarantors		Adjustments and eliminations			Total
Assets
Cash and cash equivalents	$	108	$	14,229	$	9,999	$	—		$	24,336
Receivables, net	115		228,662		34,579		(6,977		)	256,379
Inventories, net	—		202,361		33,378		(1,485		)	234,254
Prepaid expenses and other current assets	116		12,255		2,205		—			14,576
Total current assets	339		457,507		80,161		(8,462		)	529,545
Property, plant and equipment, net	—		238,470		12,103		—			250,573
Goodwill	—		633,771		272,114		—			905,885
Advances due from affiliates	561,778		25,204		87,467		(674,449		)	—
Investment in subsidiaries	1,080,540		697,691		556,398		(2,334,629		)	—
Intangible assets, net	—		180,062		77,860		—			257,922
Other non-current assets	3,535		19,840		8,138		—			31,513
Total assets	1,646,192		2,252,545		1,094,241		(3,017,540		)	1,975,438
Liabilities and Equity
Accounts payable	16		118,988		16,637		(6,977		)	128,664
Accrued compensation and employee benefits	—		25,408		5,158		—			30,566
Accrued expenses and other current liabilities	4,982		32,095		6,282		(1,485		)	41,874
Total current liabilities	4,998		176,491		28,077		(8,462		)	201,104
Advances due to affiliates	—		649,245		25,204		(674,449		)	—
Long-term debt	609,457		3,701		143		—			613,301
Deferred income taxes	—		73,518		17,504		—			91,022
Other long-term liabilities	—		33,652		4,622		—			38,274
Total liabilities	614,455		936,607		75,550		(682,911		)	943,701
Equity:
Total stockholders’ equity	1,031,737		1,315,938		1,015,880		(2,334,629		)	1,028,926
Noncontrolling interest	—		—		2,811		—			2,811
Total equity	1,031,737		1,315,938		1,018,691		(2,334,629		)	1,031,737
Total liabilities and equity	$	1,646,192	$	2,252,545	$	1,094,241	$	(3,017,540	)	$	1,975,438



	December 31, 2018
(in thousands)	Apergy Corporation		Subsidiary Guarantors		Subsidiary Non-guarantors		Adjustments and eliminations			Total
Assets
Cash and cash equivalents	$	108	$	27,533	$	14,191	$	—		$	41,832
Receivables, net	1,743		230,230		35,019		(17,044		)	249,948
Inventories, net	—		189,015		30,936		(1,632		)	218,319
Prepaid expenses and other current assets	24,583		17,064		3,106		(24,542		)	20,211
Total current assets	26,434		463,842		83,252		(43,218		)	530,310
Property, plant and equipment, net	—		231,373		12,955		—			244,328
Goodwill	—		633,771		271,214		—			904,985
Advances due from affiliates	600,802		14,185		82,889		(697,876		)	—
Investment in subsidiaries	1,013,869		687,691		545,298		(2,246,858		)	—
Intangible assets, net	—		198,531		85,157		—			283,688
Other non-current assets	3,996		2,371		2,078		—			8,445
Total assets	1,645,101		2,231,764		1,082,843		(2,987,952		)	1,971,756
Liabilities and Equity
Accounts payable	22		114,745		33,335		(17,044		)	131,058
Accrued compensation and employee benefits	—		35,278		5,268		—			40,546
Accrued expenses and other current liabilities	4,929		46,722		4,914		(26,174		)	30,391
Total current liabilities	4,951		196,745		43,517		(43,218		)	201,995
Advances due to affiliates	—		683,700		14,176		(697,876		)	—
Long-term debt	658,623		7,363		122		—			666,108
Deferred income taxes	—		81,296		20,428		—			101,724
Other long-term liabilities	—		19,441		961		—			20,402
Total liabilities	663,574		988,545		79,204		(741,094		)	990,229
Equity:
Total stockholders’ equity	981,527		1,243,219		1,001,181		(2,246,858		)	979,069
Noncontrolling interest	—		—		2,458		—			2,458
Total equity	981,527		1,243,219		1,003,639		(2,246,858		)	981,527
Total liabilities and equity	$	1,645,101	$	2,231,764	$	1,082,843	$	(2,987,952	)	$	1,971,756



	Six Months Ended June 30, 2019
(in thousands)	Apergy Corporation			Subsidiary Guarantors			Subsidiary Non-guarantors			Adjustments and eliminations		Total
Cash provided (required) by operating activities	$	(33,657	)	$	102,888		$	(9,930	)	$	—	$	59,301

Cash provided (required) by investing activities:
Capital expenditures	—			(21,933		)	(755		)	—		(22,688		)
Proceeds from sale of fixed assets	—			2,463			12			—		2,475
Payment on sale of business	—			(2,194		)	—			—		(2,194		)
Net cash required by investing activities	—			(21,664		)	(743		)	—		(22,407		)

Cash provided (required) by financing activities:
Proceeds from long-term debt	4,000			—			—			—		4,000
Repayment of long-term debt	(54,000		)	—			—			—		(54,000		)
Advances due to (from) affiliates	83,657			(90,108		)	6,451			—		—
Payments of finance lease obligations	—			(2,674		)	(16		)	—		(2,690		)
Payments related to taxes withheld on stock-based compensation	—			(1,746		)	(53		)	—		(1,799		)
Net cash provided (required) by financing activities	33,657			(94,528		)	6,382			—		(54,489		)

Effect of exchange rate changes on cash and cash equivalents	—			—			99			—		99

Net decrease in cash and cash equivalents	—			(13,304		)	(4,192		)	—		(17,496		)
Cash and cash equivalents at beginning of period	108			27,533			14,191			—		41,832
Cash and cash equivalents at end of period	$	108		$	14,229		$	9,999		$	—	$	24,336



	Six Months Ended June 30, 2018
(in thousands)	Apergy Corporation			Subsidiary Guarantors			Subsidiary Non-guarantors			Adjustments and eliminations			Total
Cash provided (required) by operating activities	$	(3,389	)	$	57,078		$	4,994		$	30		$	58,713

Cash provided (required) by investing activities:
Capital expenditures	—			(28,171		)	(767		)	—			(28,938		)
Proceeds from sale of fixed assets	—			56			6			—			62
Purchase price adjustments on acquisition	—			—			53			—			53
Net cash required by investing activities	—			(28,115		)	(708		)	—			(28,823		)

Cash provided (required) by financing activities:
Proceeds from long-term debt, net of discounts	713,963			—			—			—			713,963
Payment of debt issue costs	(15,851		)	—			—			—			(15,851		)
Advances due to (from) affiliates	(695,069		)	709,599			(14,530		)	—			—
Distributions to Dover Corporation, net	454			(722,984		)	6,434			(30		)	(716,126		)
Distribution to noncontrolling interest	—			—			(2,720		)	—			(2,720		)
Payments of finance lease obligations	—			(2,076		)	—			—			(2,076		)
Net cash provided (required) by financing activities	3,497			(15,461		)	(10,816		)	(30		)	(22,810		)

Effect of exchange rate changes on cash and cash equivalents	—			—			41			—			41

Net increase (decrease) in cash and cash equivalents	108			13,502			(6,489		)	—			7,121
Cash and cash equivalents at beginning of period	—			5,763			17,949			—			23,712
Cash and cash equivalents at end of period	$	108		$	19,265		$	11,460		$	—		$	30,833

Cash Flow Information (Notes)

6 Months Ended

Jun. 30, 2019

Supplemental Cash Flow Elements [Abstract]

Cash Flow, Supplemental Disclosures [Text Block]

CASH FLOW INFORMATION

Supplemental cash flow information is as follows:



(in thousands)	Statement of Cash Flows Classification	Six Months Ended June 30, 2019
Cash information:
Cash required by operating leases⁽¹⁾	Operating	$	6,359
Cash required by finance leases - interest	Operating	233
Cash required by finance leases - principal	Financing	2,690
Non-cash information:
Operating lease additions ⁽²⁾	Non-cash	$	34,583
Finance lease additions	Non-cash	3,018

_______________________

⁽¹⁾Cash required by operating leases is reported net of operating lease expense in the operating section of our condensed consolidated statements of cash flows in “Accrued expenses and other current liabilities.”

⁽²⁾Operating lease additions include lease liabilities recognized at the time of adoption. Refer to Note 2—New Accounting Standards for additional information.

Lease program

Our ESP leased asset program is reported in our Production & Automation Technologies segment. At the time of purchase, assets are recorded to inventory and are transferred to property, plant, and equipment when a customer contracts for an asset under our lease program. During the six months ended June 30, 2019, we transferred $40.4 million of inventory into property, plant, and equipment as a result of assets entering our leased asset program, which is accounted for as a non-cash activity within our condensed consolidated statement of cash flows.

Expenditures for assets that are expected to be placed into our leased asset program and with a useful life of less than one year are reported in “Leased assets” in the operating section of our condensed consolidated statement of cash flows. Additionally, cash receipts related to the recovery of net book value from the sale of assets on lease are presented in “Lease assets” in the operating section of our condensed consolidated statements of cash flows.

Expenditures for assets that are expected to be placed into our lease asset program and with a useful life of greater than one year are reported in “Capital expenditures” in the investing section of our condensed consolidated statements of cash flows. During the six months ended June 30, 2019 and 2018, we purchased $11.2 million, and $10.1 million, respectively, of assets with a useful life of greater than one year that are expected to be placed into our leased asset program.

Sale of assets

In March 2019, we sold a property classified as held for sale. Net proceeds of $2.1 million were received upon the close of the transaction, resulting in a gain that was not material to the condensed consolidated statement of income during the six months ended June 30, 2019.

Refer to Note 5—Dispositions for information related to our sale of our pressure vessel manufacturing business in our Production & Automation Technologies segment.

Basis of Presentation and Separation Change in Accounting Estimate (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Basis of presentation	Basis of Presentation Prior to the Separation, our results of operations, financial position and cash flows were derived from the consolidated financial statements and accounting records of Dover and reflect the combined historical results of operations, financial position and cash flows of certain Dover entities conducting its upstream oil and gas energy business within Dover’s Energy segment, including an allocated portion of Dover’s corporate costs. These financial statements have been presented as if such businesses had been combined for all periods prior to the Separation. All intercompany transactions and accounts within Dover were eliminated. The assets and liabilities were reflected on a historical cost basis since all of the assets and liabilities presented were wholly owned by Dover and were transferred within the Dover consolidated group. The statements of income also include expense allocations for certain corporate functions historically performed by Dover and not allocated to its operating segments, including corporate executive management, human resources, information technology, facilities, tax, shared services, finance and legal, including the costs of salaries, benefits and other related costs. These expense allocations were based on direct usage or benefit where identifiable, with the remainder allocated on the basis of revenue, headcount or other measures. These pre-Separation combined financial statements may not include all of the actual expenses that would have been incurred had we been a stand-alone public company during the periods presented prior to the Separation and consequently may not reflect our results of operations, financial position and cash flows had we been a stand-alone public company during the periods presented prior to the Separation. Actual costs that would have been incurred if we had been a stand-alone public company would depend on a variety of factors, including organizational structure and strategic decisions made in various areas, including information technology and infrastructure. Prior to the Separation, transactions between Apergy and Dover, with the exception of transactions discussed in Note 3—Related Party Transactions, are reflected in the condensed consolidated statements of cash flows as a financing activity in “Distributions to Dover Corporation, net.” Intercompany notes payable to Dover prior to the Separation were not settled in cash. Accordingly, no interest expense related to intercompany debt was presented in the condensed consolidated statements of income for the period presented prior to the Separation. See Note 3—Related Party Transactions for additional information. All financial information presented after the Separation represents the consolidated results of operations, financial position and cash flows of Apergy. Accordingly, our results of operations and cash flows consist of the consolidated results of Apergy during the periods ended June 30, 2019 and for the period from May 9, 2018 to June 30, 2018, and the combined results of operations and cash flows for the periods prior to May 9, 2018. Our balance sheets as of June 30, 2019 and December 31, 2018, reflect the consolidated balances of Apergy. Our management believes the assumptions underlying these condensed consolidated financial statements, including the assumptions regarding the allocation of corporate expenses from Dover for periods prior to the Separation, are reasonable. The legal transfer of the upstream oil and gas energy businesses from Dover to Apergy occurred on May 9, 2018; however, for ease of reference, and unless otherwise stated or the context otherwise requires, all references to “Apergy Corporation,” “Apergy,” “we,” “us” or “our” refer (i) prior to the Separation, to the Apergy businesses, consisting of entities, assets and liabilities conducting the upstream oil and gas business within Dover’s Energy segment and (ii) after the Separation, to Apergy Corporation and its consolidated subsidiaries. Interim Financial Information The accompanying unaudited condensed consolidated financial statements of Apergy have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission pertaining to interim financial information. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP have been condensed or omitted. Therefore, these financial statements should be read in conjunction with the audited consolidated financial statements, and notes thereto, which are included in our Annual Report on Form 10-K for the year ended December 31, 2018. The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Although these estimates are based on management’s best knowledge of current events and actions that we may undertake in the future, actual results may differ from our estimates. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments unless otherwise specified) necessary for a fair presentation of our financial condition and results of operations as of and for the periods presented. Revenue, expenses, assets and liabilities can vary during each quarter of the year. Therefore, the results and trends in these financial statements may not be representative of the results that may be expected for the year ending December 31, 2019.
Use of Estimates	The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Although these estimates are based on management’s best knowledge of current events and actions that we may undertake in the future, actual results may differ from our estimates. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments unless otherwise specified) necessary for a fair presentation of our financial condition and results of operations as of and for the periods presented. Revenue, expenses, assets and liabilities can vary during each quarter of the year. Therefore, the results and trends in these financial statements may not be representative of the results that may be expected for the year ending December 31, 2019. Change in Accounting Estimate Effective January 1, 2019, we changed our estimate of the useful lives surrounding certain equipment used within our leased asset program in our Production & Automation Technologies segment to better reflect the estimated periods in which the assets will remain in service. The estimated useful lives of the equipment, previously estimated at three years, was increased to five years. The effect of this change in estimate for the three months ended June 30, 2019, was a reduction in depreciation expense of $1.9 million, an increase in net income of $1.5 million, and an increase in basic and diluted earnings per share of $0.02 per share. The effect of this change in estimate for the six months ended June 30, 2019, was a reduction in depreciation expense of $4.0 million, an increase in net income of $3.0 million, and an increase in basic and diluted earnings per share of $0.04 per share.
Reclassifications	Revisions and Reclassifications We revised our previously issued financial statements for the six months ended June 30, 2018 related to statement of cash flow presentation of capital leases. The effect of the revisions was a decrease of $0.2 million to cash provided by operating activities, a $2.3 million decrease to cash required by investing activities and a $2.1 million increase to cash required by financing activities. Certain prior-year amounts have been reclassified to conform to the current presentation.

New Accounting Standards New Accounting Standards (Policies)

6 Months Ended

Jun. 30, 2019

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

Recently Adopted and Issued Accounting Standards

Recently Adopted Accounting Standards

We have applied the following practical expedients and elections under the new standard:


•	We elected to utilize the package of transition practical expedients, which among other things, allowed us to carry forward our historical lease classifications for existing leases.


•	For contracts in which we are a lessee, we have elected to account for each lease component and its associated non-lease components as a single lease component.


•	We elected to utilize the short term lease exemption for lease contracts with a term of less than 12 months. These contracts are excluded from the measurement of our right-of-use assets and lease liabilities and are recognized in earnings on a straight-line basis over their lease term.


•	We elected to utilize the practical expedient to exclude sales tax from the measurement of lease revenue.

Recently Issued Accounting Standards

Earnings per Share (Tables)

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Schedule of earnings per share, basic and diluted

A reconciliation of the number of shares used for the basic and diluted earnings per share calculation was as follows:



	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except per share data)	2019		2018		2019		2018
Net income attributable to Apergy	$	23,779	$	22,154	$	46,066	$	46,206

Weighted-average number of shares outstanding	77,425		77,340		77,394		77,340
Dilutive effect of stock-based compensation	207		430		242		564
Total shares and dilutive securities	77,632		77,770		77,636		77,904

Basic earnings per share attributable to Apergy	$	0.31	$	0.29	$	0.60	$	0.60
Diluted earnings per share attributable to Apergy	$	0.31	$	0.28	$	0.59	$	0.59

Inventories (Tables)

6 Months Ended

Jun. 30, 2019

Inventory, Net [Abstract]

Components of Inventory

Inventories consisted of the following:



(in thousands)	June 30, 2019			December 31, 2018
Raw materials	$	55,817		$	52,057
Work in progress	13,273			11,416
Finished goods	189,090			180,624
	258,180			244,097
LIFO and valuation adjustments	(23,926		)	(25,778		)
Inventories, net	$	234,254		$	218,319

Debt (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of Debt

Long-term debt consisted of the following:



(in thousands)	June 30, 2019			December 31, 2018
Revolving credit facility	$	—		$	—
Term loan facility	320,000			370,000
6.375% Senior Notes due 2026	300,000			300,000
Finance lease obligations	3,844			7,485
Total	623,844			677,485
Net unamortized discounts and issuance costs	(10,543		)	(11,377		)
Total long-term debt	$	613,301		$	666,108

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2019

Class of Stock [Line Items]

Schedule of Stock by Class

The following is a summary of our capital stock activity:



(in thousands)	Common Stock
March 31, 2018	—
Issuance of common stock	77,340
June 30, 2018	77,340



(in thousands)	Common Stock
December 31, 2018	77,353
Shares issued—share-based compensation	39
March 31, 2019	77,392
Shares issued—share-based compensation	67
June 30, 2019	77,459

Schedule of Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss consisted of the following:



(in thousands)	Foreign Currency Translation			Defined Pension and Other Post-Retirement Benefits			Accumulated Other Comprehensive Loss
December 31, 2017	$	(21,936	)	$	(4,480	)	$	(26,416	)
Reclassification adjustment for cumulative effect of change in accounting principle	—			(1,315		)	(1,315		)
Other comprehensive loss before reclassifications, net of tax	(1,691		)	—			(1,691		)
Reclassification adjustment for net losses included in net income, net of tax	—			49			49
Other comprehensive income (loss), net of tax	(1,691		)	49			(1,642		)
March 31, 2018	(23,627		)	(5,746		)	(29,373		)
Net transfer from Dover	—			(1,450		)	(1,450		)
Other comprehensive income (loss) before reclassifications, net of tax	(6,874		)	170			(6,704		)
Reclassification adjustment for net losses included in net income, net of tax	—			46			46
Other comprehensive income (loss), net of tax	(6,874		)	216			(6,658		)
June 30, 2018	$	(30,501	)	$	(6,980	)	$	(37,481	)



(in thousands)	Foreign Currency Translation			Defined Pension and Other Post-Retirement Benefits			Accumulated Other Comprehensive Loss
December 31, 2018	$	(36,146	)	$	(6,760	)	$	(42,906	)
Other comprehensive income (loss) before reclassifications, net of tax	1,090			(323		)	767
Reclassification adjustment for net losses included in net income, net of tax	—			422			422
Other comprehensive income, net of tax	1,090			99			1,189
March 31, 2019	(35,056		)	(6,661		)	(41,717		)
Other comprehensive income before reclassifications, net of tax	974			—			974
Reclassification adjustment for net losses included in net income, net of tax	—			68			68
Other comprehensive income, net of tax	974			68			1,042
June 30, 2019	$	(34,082	)	$	(6,593	)	$	(40,675	)

Reclassifications from accumulated other comprehensive loss

Reclassification adjustments from accumulated other comprehensive loss to net income related to defined pension and other post-retirement benefits consisted of the following:



	Three Months Ended June 30,						Six Months Ended June 30,						Affected line items on the condensed consolidated statements of income
(in thousands)	2019			2018			2019			2018
Amortization of actuarial loss and other ⁽¹⁾	$	92		$	61		$	183		$	126		Other expense, net
Settlement loss ⁽¹⁾	—			—			486			—			Other expense, net
Total before tax	92			61			669			126			Income before income taxes
Tax benefit	(24		)	(15		)	(179		)	(31		)	Provision for income taxes
	$	68		$	46		$	490		$	95		Net income

_______________________

(1) These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost (See Note 13—Employee Benefit Plans for additional information).

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

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Revenue from Contract with Customer [Abstract]

Revenue (Tables)

6 Months Ended

Jun. 30, 2019

Schedule of Disaggregation of Revenue

Revenue disaggregated by end market in each of our reporting segments was as follows:



	Three Months Ended June 30,						Six Months Ended June 30,
(in thousands)	2019			2018			2019			2018
Drilling Technologies	$	70,351		$	65,242		$	147,886		$	134,473
Production & Automation Technologies:
Artificial lift	182,770			188,500			354,874			355,430
Digital products	34,306			30,516			65,596			55,513
Other production equipment	18,833			21,846			39,838			44,064
Intra-segment eliminations	(206		)	(254		)	(449		)	(504		)
	235,703			240,608			459,859			454,503
Total revenue	$	306,054		$	305,850		$	607,745		$	588,976

Revenue disaggregated by geography was as follows:



	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2019		2018		2019		2018
United States	$	236,936	$	239,310	$	469,491	$	459,752
Canada	15,870		15,296		34,785		37,880
Middle East	14,439		16,108		28,043		26,446
Europe	13,091		11,158		30,050		20,180
Latin America	9,379		9,047		17,101		16,733
Asia-Pacific	7,865		4,115		13,410		10,185
Other	8,474		10,816		14,865		17,800
Total revenue	$	306,054	$	305,850	$	607,745	$	588,976

Schedule of Contract Balances

Contract assets and contract liabilities from contracts with customers were as follows:



(in thousands)	June 30, 2019		December 31, 2018
Contract assets	$	2,655	$	4,571
Contract liabilities - current	7,843		5,863

Leases - Balance Sheet (Tables)

6 Months Ended

Jun. 30, 2019

Leases Statement of Financial Position [Abstract]

Lessee Statement of Financial Position [Table Text Block]

Leases are presented in our condensed consolidated balance sheet as follows:



(in thousands)	Balance Sheet Classification	June 30, 2019
Right-of Use Assets:
Finance leases	Property, plant, and equipment, net	$	8,008
Operating leases	Other non-current assets	23,275
Total lease right-of-use assets		31,283
Lease Liabilities:
Finance leases - current	Accrued expenses and other current liabilities	4,411
Finance leases	Long-term debt	3,844
Operating leases - current	Accrued expenses and other current liabilities	8,460
Operating leases	Other long-term liabilities	18,096
Total lease liabilities		$	34,811

Leases - Lease Cost (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Lease, Cost [Table Text Block]

Components of total lease cost were as follows:



(in thousands)	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019
Finance lease cost:
Amortization of right-of-use assets	$	1,349		$	2,676
Interest on lease liabilities	113			233
Operating lease cost	3,161			5,838
Short-term lease cost	907			1,922
Variable lease cost	1,014			2,061
Sublease income	(145		)	(234		)
Total net lease cost	$	6,399		$	12,496

Lease term and discount rate—Our weighted-average remaining lease term and weighted-average discount rate for operating and finance leases are as follows:



	June 30, 2019
Weighted-average remaining lease term (years):
Operating lease	4.5
Finance lease	2.1
Weighted-average discount rate:
Operating lease	6.6	%
Finance lease	5.2	%

Leases - Maturity Analysis (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Future minimum payments on our operating and finance leases as of June 30, 2019 are as follows:



(in thousands)	Operating			Finance
2019	$	5,413		$	2,524
2020	7,699			3,760
2021	4,549			2,023
2022	3,850			324
2023	3,385			67
Thereafter	6,926			2
Total future minimum lease payments	31,822			8,700
Interest included within lease payments	(5,266		)	(445		)
Total lease liabilities	$	26,556		$	8,255

Finance Lease, Liability, Maturity [Table Text Block]

Future minimum payments on our operating and finance leases as of June 30, 2019 are as follows:



(in thousands)	Operating			Finance
2019	$	5,413		$	2,524
2020	7,699			3,760
2021	4,549			2,023
2022	3,850			324
2023	3,385			67
Thereafter	6,926			2
Total future minimum lease payments	31,822			8,700
Interest included within lease payments	(5,266		)	(445		)
Total lease liabilities	$	26,556		$	8,255

Leases - Lease Assets (Tables)

6 Months Ended

Jun. 30, 2019

Assets Leased to Others [Member]

Lease assets [Table Text Block]

Components of our leased assets are as follows:



(in thousands)	June 30, 2019
Property, plant, and equipment	$	170,053
Accumulated depreciation	(68,341		)
Property, plant, and equipment, net	$	101,712

Equity and Cash Incentive Program - Stock-based compensation expense (Tables)

6 Months Ended

Jun. 30, 2019

Share-based Payment Arrangement, Noncash Expense [Abstract]

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense relating to all stock-based incentive plans was as follows:



	Three Months Ended June 30,						Six Months Ended June 30,
(in thousands)	2019			2018			2019			2018
Stock-based compensation expense	$	2,736		$	851		$	5,021		$	1,361
Tax benefit	(668		)	(183		)	(1,226		)	(296		)
Stock-based compensation expense, net of tax	$	2,068		$	668		$	3,795		$	1,065

Equity and Cash Incentive Program - Activity Rollforward (Tables)

6 Months Ended

Jun. 30, 2019

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Payment Arrangement, Outstanding Award, Activity, Excluding Option [Table Text Block]

A summary of activity relating to our share-based awards for the six months ended June 30, 2019, is as follows:



(in shares)	Stock-Settled Appreciation Rights		Performance Share Awards	Restricted Stock Units
Outstanding at January 1, 2019	477,950		86,817	414,840
Granted	—		92,919	154,196
Forfeited	(2,636	)	—	(4,526	)
Exercised / Vested	(42,474	)	—	(140,944	)
Outstanding at June 30, 2019	432,840		179,736	423,566

Segment Information (Tables)

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Segment revenue and operating profit

Segment revenue and segment operating profit were as follows:



	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2019		2018		2019		2018
Segment revenue:
Production & Automation Technologies	$	235,703	$	240,608	$	459,859	$	454,503
Drilling Technologies	70,351		65,242		147,886		134,473
Total revenue	$	306,054	$	305,850	$	607,745	$	588,976

Income before income taxes:
Segment operating profit:
Production & Automation Technologies	$	20,919	$	23,225	$	37,082	$	33,097
Drilling Technologies	24,251		21,340		51,057		45,529
Total segment operating profit	45,170		44,565		88,139		78,626
Corporate expense and other ⁽¹⁾	4,719		7,056		8,576		9,692
Interest expense, net	10,057		6,062		20,531		6,229
Income before income taxes	$	30,394	$	31,447	$	59,032	$	62,705

_______________________


(1)	Corporate expense and other includes costs not directly attributable or allocated to our reporting segments such as corporate executive management and other administrative functions, costs related to our Separation from Dover and the results attributable to our noncontrolling interest.

Condensed Consolidating Financial Statements Condensed Consolidating Financial Information (Tables)

6 Months Ended

Jun. 30, 2019

Condensed Financial Statements, Captions [Line Items]

Condensed Income Statement [Table Text Block]



	Three Months Ended June 30, 2019
(in thousands)	Apergy Corporation			Subsidiary Guarantors		Subsidiary Non-guarantors			Adjustments and eliminations			Total
Product revenue	$	—		$	244,889	$	28,624		$	—		$	273,513
Service revenue	—			13,393		7,438			—			20,831
Lease, related party and other revenue	—			16,964		5,735			(10,989		)	11,710
Total revenue	—			275,246		41,797			(10,989		)	306,054
Cost of goods and services	—			171,686		35,558			(10,959		)	196,285
Gross profit	—			103,560		6,239			(30		)	109,769
Selling, general and administrative expense	82			60,861		5,699			—			66,642
Interest expense, net	9,961			88		8			—			10,057
Other expense, net	—			2,656		25			(5		)	2,676
Income (loss) before income taxes and equity in earnings of affiliates	(10,043		)	39,955		507			(25		)	30,394
Provision for (benefit from) income taxes	(2,364		)	10,245		(1,331		)	(6		)	6,544
Income (loss) before equity in earnings of affiliates	(7,679		)	29,710		1,838			(19		)	23,850
Equity in earnings of affiliates	31,458			4,165		5,421			(41,044		)	—
Net income	23,779			33,875		7,259			(41,063		)	23,850
Net income attributable to noncontrolling interest	—			—		71			—			71
Net income attributable to Apergy	$	23,779		$	33,875	$	7,188		$	(41,063	)	$	23,779
Comprehensive income attributable to Apergy	$	24,821		$	33,718	$	8,390		$	(42,108	)	$	24,821



	Three Months Ended June 30, 2018
(in thousands)	Apergy Corporation			Subsidiary Guarantors		Subsidiary Non-guarantors			Adjustments and eliminations			Total
Product revenue	$	—		$	238,065	$	33,693		$	—		$	271,758
Service revenue	—			15,613		6,065			—			21,678
Lease, related party and other revenue	—			18,967		5,438			(11,991		)	12,414
Total revenue	—			272,645		45,196			(11,991		)	305,850
Cost of goods and services	—			174,663		39,499			(11,991		)	202,171
Gross profit	—			97,982		5,697			—			103,679
Selling, general and administrative expense	1,502			58,773		5,396			—			65,671
Interest expense, net	6,002			51		9			—			6,062
Other expense, net	—			4		495			—			499
Income (loss) before income taxes and equity in earnings of affiliates	(7,504		)	39,154		(203		)	—			31,447
Provision for (benefit from) income taxes	(1,643		)	8,456		2,559			—			9,372
Income (loss) before equity in earnings of affiliates	(5,861		)	30,698		(2,762		)	—			22,075
Equity in earnings of affiliates	28,015			7,472		18,411			(53,898		)	—
Net income	22,154			38,170		15,649			(53,898		)	22,075
Net loss attributable to noncontrolling interest	—			—		(79		)	—			(79		)
Net income attributable to Apergy	$	22,154		$	38,170	$	15,728		$	(53,898	)	$	22,154
Comprehensive income attributable to Apergy	$	15,496		$	40,289	$	6,938		$	(47,227	)	$	15,496



	Six Months Ended June 30, 2019
(in thousands)	Apergy Corporation			Subsidiary Guarantors		Subsidiary Non-guarantors			Adjustments and eliminations			Total
Product revenue	$	—		$	488,026	$	55,021		$	—		$	543,047
Service revenue	—			26,735		14,613			—			41,348
Lease, related party and other revenue	—			32,402		10,860			(19,912		)	23,350
Total revenue	—			547,163		80,494			(19,912		)	607,745
Cost of goods and services	—			343,344		69,143			(20,060		)	392,427
Gross profit	—			203,819		11,351			148			215,318
Selling, general and administrative expense	143			120,578		11,256			—			131,977
Interest expense, net	20,289			224		18			—			20,531
Other expense, net	—			2,963		815			—			3,778
Income (loss) before income taxes and equity in earnings of affiliates	(20,432		)	80,054		(738		)	148			59,032
Provision for (benefit from) income taxes	(4,738		)	18,941		(1,622		)	32			12,613
Income (loss) before equity in earnings of affiliates	(15,694		)	61,113		884			116			46,419
Equity in earnings of affiliates	61,760			9,048		12,174			(82,982		)	—
Net income	46,066			70,161		13,058			(82,866		)	46,419
Net income attributable to noncontrolling interest	—			—		353			—			353
Net income attributable to Apergy	$	46,066		$	70,161	$	12,705		$	(82,866	)	$	46,066
Comprehensive income attributable to Apergy	$	48,297		$	70,671	$	14,431		$	(85,102	)	$	48,297



	Six Months Ended June 30, 2018
(in thousands)	Apergy Corporation			Subsidiary Guarantors		Subsidiary Non-guarantors			Adjustments and eliminations			Total
Product revenue	$	—		$	463,316	$	61,531		$	—		$	524,847
Service revenue	—			28,588		12,955			—			41,543
Lease, related party and other revenue	—			34,466		9,486			(21,366		)	22,586
Total revenue	—			526,370		83,972			(21,366		)	588,976
Cost of goods and services	—			339,098		73,243			(20,659		)	391,682
Gross profit	—			187,272		10,729			(707		)	197,294
Selling, general and administrative expense	1,502			112,880		10,786			—			125,168
Interest expense, net	6,002			204		23			—			6,229
Other expense, net	—			2,776		416			—			3,192
Income (loss) before income taxes and equity in earnings of affiliates	(7,504		)	71,412		(496		)	(707		)	62,705
Provision for (benefit from) income taxes	(1,643		)	15,168		3,059			(148		)	16,436
Income (loss) before equity in earnings of affiliates	(5,861		)	56,244		(3,555		)	(559		)	46,269
Equity in earnings of affiliates	52,067			12,945		24,445			(89,457		)	—
Net income	46,206			69,189		20,890			(90,016		)	46,269
Net income attributable to noncontrolling interest	—			—		63			—			63
Net income attributable to Apergy	$	46,206		$	69,189	$	20,827		$	(90,016	)	$	46,206
Comprehensive income attributable to Apergy	$	37,906		$	71,694	$	10,023		$	(81,717	)	$	37,906

Condensed Balance Sheet [Table Text Block]



	June 30, 2019
(in thousands)	Apergy Corporation		Subsidiary Guarantors		Subsidiary Non-guarantors		Adjustments and eliminations			Total
Assets
Cash and cash equivalents	$	108	$	14,229	$	9,999	$	—		$	24,336
Receivables, net	115		228,662		34,579		(6,977		)	256,379
Inventories, net	—		202,361		33,378		(1,485		)	234,254
Prepaid expenses and other current assets	116		12,255		2,205		—			14,576
Total current assets	339		457,507		80,161		(8,462		)	529,545
Property, plant and equipment, net	—		238,470		12,103		—			250,573
Goodwill	—		633,771		272,114		—			905,885
Advances due from affiliates	561,778		25,204		87,467		(674,449		)	—
Investment in subsidiaries	1,080,540		697,691		556,398		(2,334,629		)	—
Intangible assets, net	—		180,062		77,860		—			257,922
Other non-current assets	3,535		19,840		8,138		—			31,513
Total assets	1,646,192		2,252,545		1,094,241		(3,017,540		)	1,975,438
Liabilities and Equity
Accounts payable	16		118,988		16,637		(6,977		)	128,664
Accrued compensation and employee benefits	—		25,408		5,158		—			30,566
Accrued expenses and other current liabilities	4,982		32,095		6,282		(1,485		)	41,874
Total current liabilities	4,998		176,491		28,077		(8,462		)	201,104
Advances due to affiliates	—		649,245		25,204		(674,449		)	—
Long-term debt	609,457		3,701		143		—			613,301
Deferred income taxes	—		73,518		17,504		—			91,022
Other long-term liabilities	—		33,652		4,622		—			38,274
Total liabilities	614,455		936,607		75,550		(682,911		)	943,701
Equity:
Total stockholders’ equity	1,031,737		1,315,938		1,015,880		(2,334,629		)	1,028,926
Noncontrolling interest	—		—		2,811		—			2,811
Total equity	1,031,737		1,315,938		1,018,691		(2,334,629		)	1,031,737
Total liabilities and equity	$	1,646,192	$	2,252,545	$	1,094,241	$	(3,017,540	)	$	1,975,438



	December 31, 2018
(in thousands)	Apergy Corporation		Subsidiary Guarantors		Subsidiary Non-guarantors		Adjustments and eliminations			Total
Assets
Cash and cash equivalents	$	108	$	27,533	$	14,191	$	—		$	41,832
Receivables, net	1,743		230,230		35,019		(17,044		)	249,948
Inventories, net	—		189,015		30,936		(1,632		)	218,319
Prepaid expenses and other current assets	24,583		17,064		3,106		(24,542		)	20,211
Total current assets	26,434		463,842		83,252		(43,218		)	530,310
Property, plant and equipment, net	—		231,373		12,955		—			244,328
Goodwill	—		633,771		271,214		—			904,985
Advances due from affiliates	600,802		14,185		82,889		(697,876		)	—
Investment in subsidiaries	1,013,869		687,691		545,298		(2,246,858		)	—
Intangible assets, net	—		198,531		85,157		—			283,688
Other non-current assets	3,996		2,371		2,078		—			8,445
Total assets	1,645,101		2,231,764		1,082,843		(2,987,952		)	1,971,756
Liabilities and Equity
Accounts payable	22		114,745		33,335		(17,044		)	131,058
Accrued compensation and employee benefits	—		35,278		5,268		—			40,546
Accrued expenses and other current liabilities	4,929		46,722		4,914		(26,174		)	30,391
Total current liabilities	4,951		196,745		43,517		(43,218		)	201,995
Advances due to affiliates	—		683,700		14,176		(697,876		)	—
Long-term debt	658,623		7,363		122		—			666,108
Deferred income taxes	—		81,296		20,428		—			101,724
Other long-term liabilities	—		19,441		961		—			20,402
Total liabilities	663,574		988,545		79,204		(741,094		)	990,229
Equity:
Total stockholders’ equity	981,527		1,243,219		1,001,181		(2,246,858		)	979,069
Noncontrolling interest	—		—		2,458		—			2,458
Total equity	981,527		1,243,219		1,003,639		(2,246,858		)	981,527
Total liabilities and equity	$	1,645,101	$	2,231,764	$	1,082,843	$	(2,987,952	)	$	1,971,756

Condensed Cash Flow Statement [Table Text Block]



	Six Months Ended June 30, 2019
(in thousands)	Apergy Corporation			Subsidiary Guarantors			Subsidiary Non-guarantors			Adjustments and eliminations		Total
Cash provided (required) by operating activities	$	(33,657	)	$	102,888		$	(9,930	)	$	—	$	59,301

Cash provided (required) by investing activities:
Capital expenditures	—			(21,933		)	(755		)	—		(22,688		)
Proceeds from sale of fixed assets	—			2,463			12			—		2,475
Payment on sale of business	—			(2,194		)	—			—		(2,194		)
Net cash required by investing activities	—			(21,664		)	(743		)	—		(22,407		)

Cash provided (required) by financing activities:
Proceeds from long-term debt	4,000			—			—			—		4,000
Repayment of long-term debt	(54,000		)	—			—			—		(54,000		)
Advances due to (from) affiliates	83,657			(90,108		)	6,451			—		—
Payments of finance lease obligations	—			(2,674		)	(16		)	—		(2,690		)
Payments related to taxes withheld on stock-based compensation	—			(1,746		)	(53		)	—		(1,799		)
Net cash provided (required) by financing activities	33,657			(94,528		)	6,382			—		(54,489		)

Effect of exchange rate changes on cash and cash equivalents	—			—			99			—		99

Net decrease in cash and cash equivalents	—			(13,304		)	(4,192		)	—		(17,496		)
Cash and cash equivalents at beginning of period	108			27,533			14,191			—		41,832
Cash and cash equivalents at end of period	$	108		$	14,229		$	9,999		$	—	$	24,336



	Six Months Ended June 30, 2018
(in thousands)	Apergy Corporation			Subsidiary Guarantors			Subsidiary Non-guarantors			Adjustments and eliminations			Total
Cash provided (required) by operating activities	$	(3,389	)	$	57,078		$	4,994		$	30		$	58,713

Cash provided (required) by investing activities:
Capital expenditures	—			(28,171		)	(767		)	—			(28,938		)
Proceeds from sale of fixed assets	—			56			6			—			62
Purchase price adjustments on acquisition	—			—			53			—			53
Net cash required by investing activities	—			(28,115		)	(708		)	—			(28,823		)

Cash provided (required) by financing activities:
Proceeds from long-term debt, net of discounts	713,963			—			—			—			713,963
Payment of debt issue costs	(15,851		)	—			—			—			(15,851		)
Advances due to (from) affiliates	(695,069		)	709,599			(14,530		)	—			—
Distributions to Dover Corporation, net	454			(722,984		)	6,434			(30		)	(716,126		)
Distribution to noncontrolling interest	—			—			(2,720		)	—			(2,720		)
Payments of finance lease obligations	—			(2,076		)	—			—			(2,076		)
Net cash provided (required) by financing activities	3,497			(15,461		)	(10,816		)	(30		)	(22,810		)

Effect of exchange rate changes on cash and cash equivalents	—			—			41			—			41

Net increase (decrease) in cash and cash equivalents	108			13,502			(6,489		)	—			7,121
Cash and cash equivalents at beginning of period	—			5,763			17,949			—			23,712
Cash and cash equivalents at end of period	$	108		$	19,265		$	11,460		$	—		$	30,833

Cash Flow Information (Tables)

6 Months Ended

Jun. 30, 2019

Supplemental Cash Flow Elements [Abstract]

Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]

Supplemental cash flow information is as follows:



(in thousands)	Statement of Cash Flows Classification	Six Months Ended June 30, 2019
Cash information:
Cash required by operating leases⁽¹⁾	Operating	$	6,359
Cash required by finance leases - interest	Operating	233
Cash required by finance leases - principal	Financing	2,690
Non-cash information:
Operating lease additions ⁽²⁾	Non-cash	$	34,583
Finance lease additions	Non-cash	3,018

_______________________

⁽²⁾Operating lease additions include lease liabilities recognized at the time of adoption. Refer to Note 2—New Accounting Standards for additional information.

Basis of Presentation and Separation - Separation and Distribution (Details)	May 09, 2018 shares
Debt Instrument [Line Items]
Number of companies separated	2
Common stock issued (in shares)	77,339,828

Basis of Presentation and Separation - Change in accounting estimate (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Depreciation			$ (34,191)	$ (35,129)
Net income attributable to Apergy	$ 23,779	$ 22,154	46,066	$ 46,206
Change in service life
Depreciation	1,900		4,000
Net income attributable to Apergy	$ 1,500		$ 3,000
Earnings per share, basic and diluted	$ 0.02		$ 0.04

Common stock issued (in shares)

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Basis of Presentation and Separation - Revisions and restatements (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Net Cash Provided by (Used in) Operating Activities	$ 59,301	$ 58,713
Net Cash Provided by (Used in) Investing Activities	(22,407)	(28,823)
Net Cash Provided by (Used in) Financing Activities	$ 54,489	22,810
Restatement Adjustment [Member]
Net Cash Provided by (Used in) Operating Activities		(200)
Net Cash Provided by (Used in) Investing Activities		2,300
Net Cash Provided by (Used in) Financing Activities		$ 2,100

New Accounting Standards New Accounting Standards (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease, right-of-use asset	$ 23,275
Operating lease, liability	$ 26,556
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease, right-of-use asset		$ 27,000
Operating lease, liability		28,700
Reclassification adjustment for cumulative effect of change in accounting principle		$ 1,700

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018
Related party transaction, selling, general and administrative expenses	$ 1.6	$ 7.4
Royalty Agreements [Member]
Related party transaction, royalty expenses		$ 2.3

Earnings per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

6 Months Ended

May 09, 2018

Jun. 30, 2019

Jun. 30, 2018

Jun. 30, 2019

Jun. 30, 2018

Earnings Per Share [Abstract]

77,339,828

Net income attributable to Apergy

$ 23,779

$ 22,154

$ 46,066

$ 46,206

Weighted-average number of shares outstanding

^[1]

77,425,000

77,340,000

77,394,000

77,340,000

Dilutive effect of stock-based compensation

207,000

430,000

242,000

564,000

Total shares and dilutive securities

^[1]

77,632,000

77,770,000

77,636,000

77,904,000

Basic earnings per share attributable to Apergy (in dollars per share)

^[1]

$ 0.31

$ 0.29

$ 0.60

Diluted earnings per share attributable to Apergy (in dollars per share)

^[1]

$ 0.31

$ 0.28

$ 0.59

[1]	See Note 4—Earnings Per Share

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Dispositions (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
Dispositions (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2019	Jun. 30, 2018
Dispositions [Abstract]
Impairment of held-for-sale assets		$ 1,746	$ 0
Payment on sale of business		2,194	0
Loss on sale of business	$ 2,500	$ 2,475	$ 0

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Inventory, Net [Abstract]
Raw materials	$ 55,817	$ 52,057
Work in progress	13,273	11,416
Finished goods	189,090	180,624
Subtotal	258,180	244,097
LIFO and valuation adjustments	(23,926)	(25,778)
Inventories, net	$ 234,254	$ 218,319

Debt - Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Finance lease liabilities, noncurrent	$ 3,844
Capital lease obligations, noncurrent		$ 7,485
Total	623,844	677,485
Net unamortized discounts and issuance costs	(10,543)	(11,377)
Total long-term debt	613,301	666,108
Line of Credit
Debt Instrument [Line Items]
Long-term debt, gross	0	0
Term Loan Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 320,000	$ 370,000
Senior Notes \| 6.375% Senior Notes Due May 2026
Debt Instrument [Line Items]
Debt interest rate	6.375%	6.375%
Long-term debt, gross	$ 300,000	$ 300,000

Commitments and Contingencies (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Letters of credit outstanding and surety bonds, amount	$ 11.1	$ 3.6

Stockholders' Equity - Capital stock activity (Details) - shares		3 Months Ended
	May 09, 2018	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Dec. 31, 2018	Mar. 31, 2018
Class of Stock [Line Items]
Common stock, shares outstanding (in shares)		77,500,000			77,400,000
Issuance of common stock (shares)	77,339,828
Common Stock [Member]
Class of Stock [Line Items]
Common stock, shares outstanding (in shares)		77,459,000	77,392,000	77,340,000	77,353,000	0
Issuance of common stock (shares)				77,340,000
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture		67,000	39,000

Stockholders' Equity - Accumulated other comprehensive loss (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Jan. 01, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		$ 979,069			$ 979,069
Net transfer to Dover			$ (739,284)	$ (1,635)
Other comprehensive income (loss)	$ 1,042	1,189	(6,658)	(1,642)	2,231	$ (8,300)
Ending balance	1,028,926				1,028,926
AOCI Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(41,717)	(42,906)	(29,373)	(26,416)	(42,906)	(26,416)
Reclassification adjustment for cumulative effect of change in accounting principle							$ (1,315)
Net transfer to Dover			(1,450)
Other comprehensive income (loss) before reclassifications, net of tax	974	767	(6,704)	(1,691)
Reclassification adjustment for net losses included in net income, net of tax	68	422	46	49
Other comprehensive income (loss)	1,042	1,189	(6,658)	(1,642)
Ending balance	(40,675)	(41,717)	(37,481)	(29,373)	(40,675)	(37,481)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(35,056)	(36,146)	(23,627)	(21,936)	(36,146)	(21,936)
Other comprehensive income (loss) before reclassifications, net of tax	974	1,090	(6,874)	(1,691)
Other comprehensive income (loss)	974	1,090	(6,874)	(1,691)
Ending balance	(34,082)	(35,056)	(30,501)	(23,627)	(34,082)	(30,501)
Defined Pension and Other Post-Retirement Benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(6,661)	(6,760)	(5,746)	(4,480)	(6,760)	(4,480)
Reclassification adjustment for cumulative effect of change in accounting principle							$ (1,315)
Net transfer to Dover			(1,450)
Other comprehensive income (loss) before reclassifications, net of tax		(323)	170
Reclassification adjustment for net losses included in net income, net of tax	68	422	46	49
Other comprehensive income (loss)	68	99	216	49
Ending balance	$ (6,593)	$ (6,661)	$ (6,980)	$ (5,746)	$ (6,593)	$ (6,980)

Stockholders' Equity - Reclassifications from accumulated other comprehensive loss (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2019

Mar. 31, 2019

Jun. 30, 2018

Mar. 31, 2018

Jun. 30, 2019

Jun. 30, 2018

$ 2,676

$ 499

$ 3,778

$ 3,192

Total before tax

(30,394)

(31,447)

(59,032)

(62,705)

Tax benefit

6,544

9,372

12,613

16,436

Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) And Net Transition Including Portion Attributable to Noncontrolling Interest [Member] [Member] | Reclassification out of Accumulated Other Comprehensive Income

(23,850)

$ (22,569)

(22,075)

$ (24,194)

(46,419)

(46,269)

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Accumulated Defined Benefit Plans Adjustment, Settlement Gain (Loss) Including Portion Attributable to Noncontrolling Interest [Member] [Member] | Reclassification out of Accumulated Other Comprehensive Income

^[1]

183

126

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member] | Reclassification out of Accumulated Other Comprehensive Income

^[1]

486

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Total before tax

669

126

Tax benefit

(24)

(15)

(179)

(31)

$ 68

$ 46

$ 490

$ 95

[1]	These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost (See Note 13—Employee Benefit Plans for additional information)

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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Reconciliation from Segment Totals to Consolidated [Abstract]

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 306,054	$ 305,850	$ 607,745	$ 588,976
UNITED STATES
Disaggregation of Revenue [Line Items]
Revenue	236,936	239,310	469,491	459,752
CANADA
Disaggregation of Revenue [Line Items]
Revenue	15,870	15,296	34,785	37,880
Middle East [Member]
Disaggregation of Revenue [Line Items]
Revenue	14,439	16,108	28,043	26,446
Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue	13,091	11,158	30,050	20,180
Latin America [Member]
Disaggregation of Revenue [Line Items]
Revenue	9,379	9,047	17,101	16,733
Asia-Pacific [Member]
Disaggregation of Revenue [Line Items]
Revenue	7,865	4,115	13,410	10,185
Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	8,474	10,816	14,865	17,800
Drilling Technologies [Member]
Disaggregation of Revenue [Line Items]
Revenue	70,351	65,242	147,886	134,473
Production and Automation Technologies [Member]
Disaggregation of Revenue [Line Items]
Revenue	235,703	240,608	459,859	454,503
Production and Automation Technologies [Member] \| Intra-segment eliminations [Member]
Disaggregation of Revenue [Line Items]
Revenue	(206)	(254)	(449)	(504)
Production and Automation Technologies [Member] \| Artificial lift [Member]
Disaggregation of Revenue [Line Items]
Revenue	182,770	188,500	354,874	355,430
Production and Automation Technologies [Member] \| Digital products [Member]
Disaggregation of Revenue [Line Items]
Revenue	34,306	30,516	65,596	55,513
Production and Automation Technologies [Member] \| Other production equipment [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 18,833	$ 21,846	$ 39,838	$ 44,064

Revenue - Contract Balances (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Contract assets	$ 2,655	$ 4,571
Contract liabilities - current	$ 7,843	$ 5,863

Leases - Balance Sheet (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Leases Statement of Financial Position [Abstract]
Finance lease, right-of-use asset	$ 8,008
Operating lease, right-of-use asset	23,275
Total right-of-use assets	31,283
Finance lease, liability, current	4,411
Finance lease liabilities, noncurrent	3,844
Operating lease, liability, current	8,460
Operating lease, liability, noncurrent	18,096
Total lease liability	$ 34,811

Leases - Lease Cost (Details) $ in Thousands	3 Months Ended	6 Months Ended
Leases - Lease Cost (Details) $ in Thousands	Jun. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)
Leases [Abstract]
Finance lease cost, amortization of right-of-use assets	$ 1,349	$ 2,676
Finance lease cost, Interest on lease liabilities	113	233
Operating lease cost	3,161	5,838
Short-term lease cost	907	1,922
Variable lease cost	1,014	2,061
Sublease income	(145)	(234)
Total net lease cost	$ 6,399	$ 12,496
Operating lease, weighted-average remaining lease term	4 years 6 months	4 years 6 months
Finance lease, weighted-average remaining lease term	2 years 1 month	2 years 1 month
Operating lease, weighted-average discount rate (as a percent)	6.60%	6.60%
Finance lease, weighted-average discount rate (as a percent)	5.20%	5.20%

Leases - Maturity Tables (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Leases [Abstract]
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year	$ 5,413
Lessee, Operating Lease, Liability, Payments, Due Year Two	7,699
Lessee, Operating Lease, Liability, Payments, Due Year Three	4,549
Lessee, Operating Lease, Liability, Payments, Due Year Four	3,850
Lessee, Operating Lease, Liability, Payments, Due Year Five	3,385
Lessee, Operating Lease, Liability, Payments, Due after Year Five	6,926
Lessee, Operating Lease, Liability, Payments, Due	31,822
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(5,266)
Operating lease, liability	26,556
Finance Lease, Liability, Payments, Remainder of Fiscal Year	2,524
Finance Lease, Liability, Payments, Due Year Two	3,760
Finance Lease, Liability, Payments, Due Year Three	2,023
Finance Lease, Liability, Payments, Due Year Four	324
Finance Lease, Liability, Payments, Due Year Five	67
Finance Lease, Liability, Payments, Due after Year Five	2
Finance Lease, Liability, Payment, Due	8,700
Finance Lease, Liability, Undiscounted Excess Amount	(445)
Finance Lease, Liability	$ 8,255

Leases - Lease Assets (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
Leases - Lease Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Accumulated depreciation	$ (413,653)	$ (413,653)	$ (392,344)
Property, plant, and equipment, net	250,573	250,573	$ 244,328
Assets Leased to Others [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	170,053	170,053
Accumulated depreciation	(68,341)	(68,341)
Property, plant, and equipment, net	101,712	101,712
Depreciation expense	$ 9,100	$ 17,800

Income Taxes (Details)	3 Months Ended		6 Months Ended
Income Taxes (Details)	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Effective tax rate (as a percent)	21.50%	29.80%	21.40%	26.20%

Employee Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Millions	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Defined Benefit Plan [Abstract]
Net periodic benefit cost	$ 0.4	$ 1.0	$ 1.1	$ 1.8

Equity and Cash Incentive Program (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Stock-based compensation expense [Abstract]
Stock-based compensation expense	$ 2,736	$ 851	$ 5,021	$ 1,361
Tax benefit	(668)	(183)	(1,226)	(296)
Stock-based compensation expense, net of tax	$ 2,068	$ 668	$ 3,795	$ 1,065
Stock-Settled Appreciation Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding (in shares)	432,840		432,840		477,950
Forfeited (in shares)			2,636
Exercised (in shares)			(42,474)
Performance Share Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding (in shares)	179,736		179,736		86,817
Granted (in shares)			92,919
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding (in shares)	423,566		423,566		414,840
Granted (in shares)			154,196
Forfeited (in shares)			4,526
Vested (in shares)			(140,944)

Fair Value Measurements (Details) - USD ($) $ in Thousands	6 Months Ended
Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of held-for-sale assets	$ 1,746	$ 0
Senior Notes \| 6.375% Senior Notes Due May 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal amount of debt issued	300,000
Senior Notes \| 6.375% Senior Notes Due May 2026 \| Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, fair value	304,900
Term Loan Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal amount of debt issued	320,000
Term Loan Facility \| Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, fair value	$ 319,400

Segment Information (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2019

Jun. 30, 2018

Jun. 30, 2019

Jun. 30, 2018

Reconciliation of Earnings from Continuing Operations from Segments to Consolidated [Abstract]

$ 306,054

$ 305,850

$ 607,745

$ 588,976

Production and Automation Technologies [Member]

30,394

31,447

59,032

62,705

Reconciliation from Segment Totals to Consolidated [Abstract]

Reconciliation of Earnings from Continuing Operations from Segments to Consolidated [Abstract]

235,703

240,608

459,859

454,503

Drilling Technologies [Member]

20,919

23,225

37,082

33,097

Reconciliation from Segment Totals to Consolidated [Abstract]

Reconciliation of Earnings from Continuing Operations from Segments to Consolidated [Abstract]

70,351

65,242

147,886

134,473

Reconciliation of Earnings from Continuing Operations from Segments to Consolidated [Abstract]

24,251

21,340

51,057

45,529

Total segments [Member]

Corporate expense / other [Member]

45,170

44,565

88,139

78,626

Reconciliation of Earnings from Continuing Operations from Segments to Consolidated [Abstract]

Interest Expense [Member]

^[1]

(4,719)

(7,056)

(8,576)

(9,692)

Reconciliation of Earnings from Continuing Operations from Segments to Consolidated [Abstract]