View Filing Data

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2020	May 07, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-38441
Entity Registrant Name	Apergy Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-3066826
Entity Address, Address Line One	2445 Technology Forest Blvd,
Entity Address, Address Line Two	Building 4, 12th Floor
Entity Address, City or Town	The Woodlands,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77381
City Area Code	(281)
Local Phone Number	403-5772
Entity Information, Former Legal or Registered Name	Not Applicable
Security 12b Title	Common stock, $0.01 par value
Trading Symbol	APY
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		77,505,318
Entity Central Index Key	0001723089
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Total revenue	$ 261,434	$ 300,494
Cost of goods and services	179,095	197,483
Gross profit	82,339	103,011
Selling, general and administrative expense	78,143	64,129
Goodwill impairment	616,271	0
Long-lived asset impairment	40,980	1,746
Interest expense, net	9,039	10,527
Other (income) expense, net	(1,633)	1,102
Income (loss) before income taxes	(660,461)	25,507
Provision for (benefit from) income taxes	(27,006)	5,569
Net income (loss)	(633,455)	19,938
Net income attributable to noncontrolling interest	273	282
Net income (loss) attributable to Apergy	$ (633,728)	$ 19,656
Basic (in dollars per share)	$ (8.18)	$ 0.25
Diluted (in dollars per share)	$ (8.18)	$ 0.25
Weighted-average number of shares outstanding, basic (in shares)	77,477	77,363
Weighted-average number of shares outstanding, diluted (in shares)	77,477	77,640
Product revenue
Revenue	$ 230,882	$ 269,342
Other revenue
Revenue	$ 30,552	$ 31,152

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

3 Months Ended

Mar. 31, 2020

Mar. 31, 2019

Statement of Comprehensive Income [Abstract]

Net income (loss)

$ (633,455)

$ 19,938

Foreign currency translation adjustments [Abstract]

Foreign currency translation adjustments (1)

^[1]

(11,052)

1,090

Pension and other post-retirement benefit plans [Abstract]

Net actuarial loss arising during period

(323)

Reclassification adjustment for net actuarial loss included in net income

Reclassification adjustment for settlement losses included in net income

355

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

^[2]

Other comprehensive income (loss)

(10,953)

1,189

Comprehensive income (loss)

(644,408)

21,127

Comprehensive income attributable to noncontrolling interest

273

282

Comprehensive income (loss) attributable to Apergy

$ (644,681)

$ 20,845

[1]	Net of income tax (expense) benefit of nil for the three months ended March 31, 2020 and 2019.
[2]	Net of income tax (expense) benefit of $33 and $38 for the three months ended March 31, 2020 and 2019, respectively.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (Parenthetical) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax	$ 0	$ 0
Pension and other post-retirement benefit plans, tax	$ 33,000	$ 38,000

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 53,636	$ 35,290
Receivables, net of allowances of $11,279 in 2020 and $8,072 in 2019	218,903	219,874
Inventories, net	206,948	211,342
Prepaid expenses and other current assets	25,016	26,934
Total current assets	504,503	493,440
Property, plant and equipment, net of accumulated depreciation of $431,760 in 2020 and $426,722 in 2019	235,114	248,181
Goodwill	291,718	911,113
Intangible assets, net	183,926	238,707
Other non-current assets	29,981	31,384
Total assets	1,245,242	1,922,825
Liabilities and Equity
Accounts payable	118,791	120,291
Accrued compensation and employee benefits	30,770	38,470
Current portion of finance lease liabilities	4,696	4,845
Accrued expenses and other current liabilities	44,495	36,075
Total current liabilities	198,752	199,681
Long-term debt	559,532	559,821
Deferred income taxes	55,059	84,060
Other long-term liabilities	39,605	43,049
Total liabilities	852,948	886,611
Stockholders’ equity:
Common stock (2.5 billion shares authorized, $0.01 par value) 77.5 million shares issued and outstanding in 2020 and 2019	775	775
Capital in excess of par value of common stock	971,235	969,174
Retained earnings (accumulated deficit)	(528,253)	107,048
Accumulated other comprehensive loss	(54,990)	(44,037)
Total stockholders’ equity	388,767	1,032,960
Noncontrolling interest	3,527	3,254
Total equity	392,294	1,036,214
Total liabilities and equity	$ 1,245,242	$ 1,922,825

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 11,279	$ 8,072
Accumulated depreciation on property, plant, and equipment	$ 431,760	$ 426,722
Par value of common stock (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	2,500,000,000.0	2,500,000,000.0
Common stock, shares issued (in shares)	77,500,000	77,500,000
Common stock, shares outstanding (in shares)	77,500,000	77,500,000

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock, Par Value	Common Stock, Capital in excess of par value	Retained Earnings (Accum. Deficit)	Accum. Other Comp. Loss	Non-controlling Interest	Cumulative Effect Adjustment	Cumulative Effect Adjustment Retained Earnings (Accum. Deficit)
Common stock, shares outstanding, beginning of period (in shares) at Dec. 31, 2018		77,353
Beginning balance at Dec. 31, 2018	$ 975,983	$ 774	$ 960,773	$ 54,884	$ (42,906)	$ 2,458	$ 0
Net income (loss)	19,938			19,656		282
Other comprehensive income (loss)	1,189				1,189
Stock-based compensation (in shares)		39
Stock-based compensation	2,285		2,285
Taxes withheld on issuance of stock-based awards	(719)		(719)
Other	14					14
Common stock, shares outstanding, end of period (in shares) at Mar. 31, 2019		77,392
Ending balance at Mar. 31, 2019	$ 998,690	$ 774	962,339	74,540	(41,717)	2,754
Common stock, shares outstanding, beginning of period (in shares) at Dec. 31, 2019	77,500	77,460
Beginning balance at Dec. 31, 2019	$ 1,036,214	$ 775	969,174	107,048	(44,037)	3,254	$ (1,573)	$ (1,573)
Net income (loss)	(633,455)			(633,728)		273
Other comprehensive income (loss)	(10,953)				(10,953)
Stock-based compensation (in shares)		44
Stock-based compensation	2,429		2,429
Taxes withheld on issuance of stock-based awards	$ (368)		(368)
Common stock, shares outstanding, end of period (in shares) at Mar. 31, 2020	77,500	77,504
Ending balance at Mar. 31, 2020	$ 392,294	$ 775	$ 971,235	$ (528,253)	$ (54,990)	$ 3,527

- Definition

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

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash provided (required) by operating activities:
Net income (loss)	$ (633,455)	$ 19,938
Adjustments to reconcile net income to net cash provided (required) by operating activities:
Depreciation	16,970	17,071
Amortization	12,862	12,844
Stock-based compensation	2,429	2,285
Loss (gain) on sale of fixed assets	(386)	12
Loss on goodwill and long-lived asset impairment	657,251	1,746
Provision for losses on accounts receivable	2,427	(117)
Amortization of deferred loan costs and accretion of discount	708	648
Deferred income taxes	(28,417)	(5,856)
Employee benefit plan expense	383	770
Other	349	109
Changes in operating assets and liabilities (net of effects of foreign exchange):
Receivables	(6,740)	(7,260)
Inventories	6,587	664
Prepaid expenses and other current assets	4,129	4,096
Accounts payable	3,068	(8,160)
Accrued compensation and employee benefits	(9,799)	(10,584)
Accrued expenses and other liabilities	12,153	11,576
Leased assets	(7,972)	(20,501)
Other	(3,325)	629
Net cash provided by operating activities	29,222	19,910
Cash provided (required) by investing activities:
Capital expenditures	(7,467)	(9,718)
Proceeds from sale of fixed assets	721	2,475
Net cash required by investing activities	(6,746)	(7,243)
Cash provided (required) by financing activities:
Payment of debt issue costs	(1,284)	0
Repayment of long-term debt	0	(25,000)
Payment of finance lease obligations	(1,492)	(1,234)
Payments related to taxes withheld on stock-based compensation	(368)	0
Net cash required by financing activities	(3,144)	(26,234)
Effect of exchange rate changes on cash and cash equivalents	(986)	89
Net increase (decrease) in cash and cash equivalents	18,346	(13,478)
Cash and cash equivalents at beginning of period	35,290	41,832
Cash and cash equivalents at end of period	$ 53,636	$ 28,354

Basis of Presentation

3 Months Ended

Mar. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

BASIS OF PRESENTATION

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 May 9, 2018, Apergy became an independent, publicly traded company as a result of the distribution by Dover Corporation (“Dover”) of 100% of the outstanding common stock of Apergy to Dover’s stockholders. Dover’s Board of Directors approved the distribution on April 18, 2018 and Apergy’s Registration Statement on Form 10 was declared effective by the U.S. Securities and Exchange Commission (“SEC”) on April 19, 2018. On May 9, 2018, Dover’s stockholders of record as of the close of business on the record date of April 30, 2018 received one share of Apergy stock for every two shares of Dover stock held at the close of business on the record date (the “Separation”). Following the Separation, Dover retained no ownership interest in Apergy. Apergy’s common stock began “regular-way” trading on the New York Stock Exchange (“NYSE”) under the “APY” symbol on May 9, 2018.

Basis of Presentation

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, 2019.

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 statement 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, 2020.

Noncontrolling Interest

For the quarters ended March 31, 2020, and 2019, we did not declare or pay distributions to the noncontrolling interest holder in Apergy Middle East Services LLC, a subsidiary in the Sultanate of Oman. We have a commission arrangement with our noncontrolling interest for 5% of certain annual product sales.

Revisions and Reclassifications

We revised our previously issued financial statements for the three months ended March 31, 2019, for the correction of immaterial errors related to: (i) the assessing and recording of liabilities for state sales tax and associated penalties and interest, primarily resulting in an understatement of our selling, general, and administrative expense and interest expense for the three

months ended March 31, 2019; and (ii) previously recorded amounts including, but not limited to, the write-off of inventory and leased assets, timing of revenue recognition, and revenue classification, that the Company concluded were immaterial to our previously filed condensed consolidated financial statements. See the following table for the impact of the corrections on our condensed consolidated financial statements:

Condensed Consolidated Statement of Income



	Three Months Ended March 31, 2019
(in thousands, except per share data)	As Reported		Adjustments			As Revised
Product revenue	$	269,534	$	(192	)	$	269,342
Other revenue ⁽¹⁾	32,157		(1,005		)	31,152
Total revenue	301,691		(1,197		)	300,494
Cost of goods and services	196,142		1,341			197,483
Gross profit	105,549		(2,538		)	103,011
Selling, general and administrative expense	63,601		528			64,129
Long-lived asset impairment ⁽²⁾	1,746		—			1,746
Interest expense, net	10,474		53			10,527
Other expense, net	1,090		12			1,102
Income before income taxes	28,638		(3,131		)	25,507
Provision for (benefit from) income taxes	6,069		(500		)	5,569
Net income	22,569		(2,631		)	19,938
Net income attributable to noncontrolling interest	282		—			282
Net income attributable to Apergy	$	22,287	$	(2,631	)	$	19,656

Earnings (loss) per share attributable to Apergy:
Basic	$	0.29	$	(0.04	)	$	0.25
Diluted	$	0.29	$	(0.04	)	$	0.25

Comprehensive income	$	23,758	$	(2,631	)	$	21,127
Comprehensive income attributable to Apergy	$	23,476	$	(2,631	)	$	20,845

_______________________

⁽¹⁾ Includes “Service revenue” and “Lease and other revenue” as reported in the condensed consolidated statements of income for the three months ended March 31, 2019.

⁽²⁾ Long-lived asset impairment has been reclassified from selling, general, and administrative expense to conform the with our current period presentation of long-lived asset impairment on the condensed consolidated statements of income (loss).

Condensed Consolidated Statement of Changes in Stockholders’ Equity



	March 31, 2019
(in thousands)	As Reported		Adjustments			As Revised
Stockholders’ Equity:
Capital in excess of par value of common stock	$	966,938	$	(4,599	)	$	962,339
Retained earnings	76,454		(1,914		)	74,540
Total equity	1,005,203		(6,513		)	998,690



(in thousands)	As Reported			Adjustments			As Revised
Total equity at December 31, 2018	$	981,527		$	(5,544	)	$	975,983
Cumulative effect of accounting changes	(1,662		)	1,662			—
Net income	22,569			(2,631		)	19,938
Total equity at March 31, 2019	1,005,203			(6,513		)	998,690

Condensed Consolidated Statements of Cash Flows



	Three Months Ended March 31, 2019
(in thousands)	As Reported			Adjustments			As Revised
Cash provided (required) by operating activities:
Net income	$	22,569		$	(2,631	)	$	19,938
Adjustments to reconcile net income to net cash provided (required) by operating activities:
Depreciation	17,080			(9		)	17,071
Deferred income taxes	(5,366		)	(490		)	(5,856		)
Loss (gain) on sale of fixed assets ⁽¹⁾	12			—			12
Provision for losses on accounts receivable ⁽¹⁾	(117		)	—			(117		)
Amortization of deferred loan costs and accretion of discount ⁽¹⁾	648			—			648
Other	131			(22		)	109
Changes in operating assets and liabilities (net of effects of foreign exchange):
Receivables	(8,462		)	1,202			(7,260		)
Inventories	(2,229		)	2,893			664
Accounts payable	(6,279		)	(1,881		)	(8,160		)
Accrued compensation and employee benefits	(12,827		)	2,243			(10,584		)
Accrued expenses and other liabilities	13,849			(2,273		)	11,576
Leased assets	(21,460		)	959			(20,501		)
Other	620			9			629

_______________________

⁽¹⁾ Each of these amounts were included within “Other” on the condensed consolidated statements of cash flows reported for the three months ended March 31, 2019. These amounts have been reclassified consistent with the presentation in the current reporting period.

New Accounting Standards

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

New Accounting Standards

NEW ACCOUNTING STANDARDS

Recently Adopted Accounting Standards

Effective January 1, 2020, we adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” This update amends the impairment model to utilize an expected credit loss methodology in place of the incurred credit loss methodology for financial instruments. We applied the provisions of this ASU to our financial instruments, mostly consisting of trade receivables, as of January 1, 2020. We utilized the modified retrospective method of adoption; therefore, prior period amounts have not been adjusted and continue to be reflected in accordance with our historical accounting policies. As of January 1, 2020, we recorded a cumulative adjustment to retained earnings of $1.6 million, net of $0.5 million of income tax benefit.

Our exposure to credit losses is primarily the result of product sales to our customers, resulting in trade receivables with payment terms generally ranging from 30 days to 90 days. We manage credit risk on trade receivables by transacting only with what management believes are financially secure customers. Our expected loss allowance for accounts receivable is estimated utilizing a single loss rate, as our customer base generally has similar collectability risk characteristics. We develop our loss rate estimate based on historical collection experience, and current economic and market conditions. Specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default.

The following table provides a rollforward of our allowance for credit losses balance:



(in thousands)	Allowance for Credit Losses
December 31, 2019	$	8,072
Impact of adoption on January 1, 2020	2,042
Provision for expected credit losses	2,427
Accounts written off	(1,207		)
Foreign currency translation	(55		)
March 31, 2020	$	11,279

Inventories

3 Months Ended

Mar. 31, 2020

Inventory, Net [Abstract]

Inventories

INVENTORIES

Inventories consisted of the following:



(in thousands)	March 31, 2020			December 31, 2019
Raw materials	$	47,542		$	50,099
Work in progress	13,438			13,325
Finished goods	170,370			175,774
	231,350			239,198
LIFO and valuation adjustments	(24,402		)	(27,856		)
Inventories, net	$	206,948		$	211,342

Asset Impairments

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Asset Impairments

ASSET IMPAIRMENTS

During the first quarter of 2020, certain unprecedented events caused the rapid decline of several market indicators in the oil and gas industry. On March 6, 2020, Russia and the Organization of Petroleum Exporting Countries (“OPEC”) producers were unable to agree on the need to maintain and extend compliance with previously agreed upon production cuts. Consequently, Russia and Saudi Arabia each announced that they would reduce the prices at which they make oil available to the market and raise their crude oil production, leading to a price war and a substantial surplus in the supply of oil. The price per barrel of WTI crude oil decreased from $41.14 on March 6, 2020 to $20.51 on March 31, 2020, a decline of 50%.

Compounding this situation, demand for oil and gas commodities declined significantly as the world was impacted by the COVID-19 outbreak, which the World Health Organization declared as a pandemic on March 11, 2020. Since that time, various jurisdictions have attempted to implement or have implemented measures designed to contain the spread of the virus, including travel restrictions, stay-at-home or shelter-in-place orders and shutdowns of non-essential business, reducing the overall demand for oil and gas commodities. In response to lower oil prices and deteriorating market conditions, oil producers announced reductions of previously budgeted capital expenditures. The reduction in rig count levels in the first quarter of 2020 provided further evidence that oil producers were committed to reduced levels of capital investment in drilling especially in North America, which has led to reduced levels of demand for capital equipment and pricing pressures.

Additionally, Apergy’s common stock price declined from an average closing price of $24.62 during February 2020 to an average closing price of $8.26 during March 2020. On March 23, 2020 Apergy’s common stock price ended trading at $3.02, the lowest end of day stock price since Apergy’s stock began “regular-way” trading on the NYSE on May 9, 2018. We believe our market capitalization has been negatively impacted as a result of these market conditions and overall impact to our industry as described above.

Management determined that these events and their related impact to future revenues and cash flows constituted a triggering event in the first quarter of 2020, requiring us to perform a recoverability test of our long-lived assets and an interim impairment assessment of goodwill as of March 31, 2020.

Goodwill Impairment

The carrying amount of goodwill, including changes therein, by reporting segment is below:



(in thousands)	Production & Automation Technologies			Drilling Technologies		Total
December 31, 2019	$	809,977		$	101,136	$	911,113
Impairment	(616,271		)	—		(616,271		)
Foreign currency translation	(3,124		)	—		(3,124		)
March 31, 2020	$	190,582		$	101,136	$	291,718

Goodwill is not subject to amortization but is tested for impairment on an annual basis or more frequently if impairment indicators arise.

We performed a quantitative analysis for each of our reporting units to determine the existence of goodwill impairment and the amount of the impairment loss. In performing the quantitative assessment, we estimated the fair value of each of our reporting units using a combination of the income and market approaches, which determined that the fair values were less than the respective carrying values for our Artificial Lift and Automation reporting units.

Our income-based valuation method determines the present value of estimated future cash flows to estimate the fair value of a reporting unit. Significant assumptions used in estimating our reporting unit fair values include: (i) annual revenue growth rates; (ii) operating margins; (iii) risk-adjusted discount rate; and (iv) terminal value determined using a long-term growth rate. If the carrying amount of a reporting unit exceeds its fair value, an impairment loss is recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to the reporting unit. Given the unprecedented uncertainty of both short-term and long-term market conditions, we utilized a weighted-average projection for estimated future cash flows that consists of three estimated future cash flows scenarios with the following weightings: (i) low case scenario with a 40% weighting, (ii) base case scenario with a 40% weighting, and (iii) high case scenario with a 20% weighting.

Under the market approach, we estimate a fair value based on comparable companies' market multiples of revenues and earnings before interest, taxes, depreciation and amortization and factor in a control premium. Finally, we compare our estimates of fair values to our March 31, 2020 total public market capitalization and assess an implied control premium based on the 20-day average of our common stock.

The reporting unit carrying values were adjusted based on the long-lived asset impairment assessment noted below. Financial and credit market volatility directly impacts our fair value measurement through the weighted average cost of capital used to determine a discount rate. During times of volatility, significant judgment must be applied to determine whether credit market changes are a short-term or long-term trend. We utilized discount rates of 14.5% and 16.5% for our Artificial Lift and Automation reporting units, respectively.

During the first quarter of 2020, we recorded a $616.3 million impairment charge to goodwill, consisting of $539.2 million and $77.1 million in our Artificial Lift reporting unit and our Automation reporting unit, respectively. Both reporting units are within our Production & Automation Technologies reportable segment.

Long-lived Asset Impairment

Long-lived assets, which include property, plant and equipment, right of use assets, and identified intangible assets, comprise a significant amount of our total assets. The Company makes judgments and estimates in conjunction with the carrying value of these assets, including amounts to be capitalized, depreciation and amortization methods and estimated useful lives.

The negative market indicators described above, as well as the results of the previously mentioned fair value determinations of certain of our reporting units, were triggering events indicating that certain of our long-lived tangible and intangible assets may be impaired. We performed recoverability tests on our asset groups as of March 31, 2020, which indicated that long-lived assets associated with two of our asset groups within Production and Automation Technologies were not recoverable as the aggregate amount of estimated undiscounted cash flows of these asset groups was determined to be below their respective carrying values. We estimate the fair value of these intangible and fixed assets using an income approach that requires us to make long-term forecasts of our future revenues and costs related to the assets subject to review. These forecasts require assumptions about demand for our products and services, future market conditions and technological developments. The forecasts are dependent upon assumptions including those regarding oil prices and the general outlook for the global oil and gas industry, among other factors. Financial and credit market volatility directly impacts our fair value measurement through our income forecast. Changes to these assumptions, including, but not limited to: variability of spot and futures prices for crude oil; sustained declines in worldwide rig counts below current analysts’ forecasts; significant deterioration of external financing for our customers; higher risk premiums or higher cost of equity; or any other significant adverse economic news could require a provision for impairment.

Accordingly, the estimated fair value of each of these asset groups was below their respective carrying value and as a result, we recorded a long-lived asset impairment charge of $41.0 million in the first quarter of 2020, consisting of $40.4 million to customer relationships and $0.6 million to trademarks.

The components of our definite- and indefinite-lived intangible assets were as follows:



	March 31, 2020						December 31, 2019
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Definite-lived intangible assets:
Customer relationships ⁽¹⁾	$	442,696	$	287,833	$	154,863	$	560,316	$	353,189	$	207,127
Trademarks ⁽¹⁾	34,045		24,671		9,374		35,695		24,830		10,865
Patents	37,798		27,053		10,745		38,436		26,838		11,598
Unpatented technologies	13,700		9,878		3,822		13,700		9,811		3,889
Drawings and manuals	2,478		1,678		800		2,558		1,758		800
Other	5,199		4,477		722		5,332		4,504		828
	535,916		355,590		180,326		656,037		420,930		235,107
Indefinite-lived intangible assets:
Trademarks	3,600		—		3,600		3,600		—		3,600
Total	$	539,516	$	355,590	$	183,926	$	659,637	$	420,930	$	238,707

_______________________

(1) Includes impairment of customer relationship and trademark intangible assets of $40.4 million and $0.6 million, respectively, all of which relate to asset groups included within our Artificial Lift business.

Debt

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Debt

DEBT

Long-term debt consisted of the following:



(in thousands)	March 31, 2020			December 31, 2019
Revolving credit facility	$	—		$	—
Term loan facility	265,000			265,000
6.375% Senior Notes due 2026	300,000			300,000
Finance lease obligations	4,079			4,530
Total	569,079			569,530
Net unamortized discounts and issuance costs	(9,547		)	(9,709		)
Total long-term debt	$	559,532		$	559,821

On February 14, 2020, Apergy amended its credit agreement, which (i) provides for the incurrence of an additional $150 million of revolving commitments under the amended credit agreement, upon consummation of the planned merger with ChampionX (the “Merger”), (ii) permits the consummation of the Merger and the incurrence of a senior secured term loan facility in an aggregate amount up to $537 million by ChampionX, and (iii) continues to provide that all obligations under the amended agreement continue to be guaranteed by certain of Apergy’s wholly owned U.S. subsidiaries.

Subsequent event

In preparation for settling transaction expenses associated with the Merger, and to increase liquidity during current market conditions, we increased our cash balance by drawing $125.0 million on our revolver on April 24, 2020, leaving $118.9 million of available borrowing capacity.

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENT 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. Pursuant to the provisions of the tax matters agreement with Dover, we recorded an indemnification liability of $3.4 million as of December 31, 2019, with respect to certain liabilities related to tax audits for the 2012-2016 tax years. We received notification in February 2020 that the tax audits and related assessments were completed, resulting in a final settlement amount of $3.0 million, which we have recorded as an indemnification liability as of March 31, 2020. As of March 31, 2020 and December 31, 2019, we had $15.2 million and $15.7 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 and Environmental Matters 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 March 31, 2020 and December 31, 2019, 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. Prior to the Separation, groundwater contamination was discovered at the Norris Sucker Rods plant site located in Tulsa, Oklahoma ("Norris"). Initial remedial efforts were undertaken at the time of discovery of the contamination and Norris has since coordinated monitoring and remediation with the Oklahoma Department of Environmental Quality ("ODEQ"). As part of the ongoing long-term remediation process, Norris contracted an engineering and consulting firm to develop a range of possible additional remedial alternatives in order to accelerate the remediation process and associated cost estimates for the work. In October 2019, we received the firm’s preliminary remedial alternatives for consideration. Now that we have such recommendations, we have begun discussions with ODEQ regarding our proposed long-term remediation plan. The plan is subject to ODEQ’s review, input, and approval. Because we have not yet finalized a plan for further remediation at the site and discussions with ODEQ remain ongoing, we cannot fully anticipate the timing, outcome or possible impact of such further remedial activities, financial or otherwise. As a result of the recommendations in the report, we accrued liabilities for these remediation efforts of approximately $2.0 million as of December 31, 2019. Liabilities could increase in the future at such time as we ultimately reach agreement with ODEQ on our remediation plan and such liabilities become probable and can be reasonably estimated, however, there have been no changes to our estimated liability as of March 31, 2020.

Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2020

Stockholders' Equity Note [Abstract]

Accumulated Other Comprehensive Loss

ACCUMULATED OTHER COMPREHENSIVE LOSS

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, 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	)



(in thousands)	Foreign Currency Translation			Defined Pension and Other Post-Retirement Benefits			Accumulated Other Comprehensive Loss
December 31, 2019	$	(35,210	)	$	(8,827	)	$	(44,037	)
Other comprehensive loss before reclassifications, net of tax	(11,052		)	—			(11,052		)
Reclassification adjustment for net losses included in net income, net of tax	—			99			99
Other comprehensive income (loss), net of tax	(11,052		)	99			(10,953		)
March 31, 2020	$	(46,262	)	$	(8,728	)	$	(54,990	)

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



	Three Months Ended March 31,						Affected line items on the condensed consolidated statements of income
(in thousands)	2020			2019
Amortization of actuarial loss and other	$	132		$	91		Other (income) expense, net
Settlement loss	—			486			Other (income) expense, net
Total before tax	132			577			Income (loss) before income taxes
Tax benefit	(33		)	(155		)	Provision for (benefit from) income taxes
	$	99		$	422		Net income (loss)

Earnings per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

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



	Three Months Ended March 31,
(in thousands, except per share data)	2020			2019
Net income (loss) attributable to Apergy	$	(633,728	)	$	19,656

Weighted-average number of shares outstanding	77,477			77,363
Dilutive effect of stock-based compensation ⁽¹⁾	—			277
Total shares and dilutive securities	77,477			77,640

Basic earnings (loss) per share attributable to Apergy	$	(8.18	)	$	0.25
Diluted earnings (loss) per share attributable to Apergy	$	(8.18	)	$	0.25

_______________________

(1)

See Note 12—Equity And Cash Incentive Programs for share-based awards outstanding as of March 31, 2020, all of which were excluded from diluted weighted-average number of shares outstanding during the three months ended March 31, 2020 due to their anti-dilutive impact. We excluded 0.3 million shares from our calculation as of March 31, 2019 due to their anti-dilutive impact.

Revenue

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue

REVENUE

Disaggregation of Revenue

Revenue disaggregated by revenue type was as follows:



	Three Months Ended March 31,
(in thousands)	2020		2019
Product revenue	$	230,882	$	269,342
Service revenue	18,487		20,421
Lease and other revenue	12,065		10,731
Total revenue	$	261,434	$	300,494

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



	Three Months Ended March 31,
(in thousands)	2020			2019
Drilling Technologies	$	55,955		$	77,535
Production & Automation Technologies:
Artificial lift	159,400			170,907
Digital products	33,922			31,290
Other production equipment	12,259			21,005
Intra-segment eliminations	(102		)	(243		)
	205,479			222,959
Total revenue	$	261,434		$	300,494

Revenue disaggregated by geography was as follows:



	Three Months Ended March 31,
(in thousands)	2020		2019
United States	$	195,370	$	231,358
Canada	17,952		18,915
Middle East	12,363		13,604
Europe	12,030		16,959
Australia	9,268		5,982
Latin America	7,582		7,722
Asia-Pacific	5,486		5,545
Other	1,383		409
Total revenue	$	261,434	$	300,494

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)	March 31, 2020		December 31, 2019
Contract assets	$	6	$	285
Contract liabilities - current	9,393		6,148

Restructuring and Other Related Charges

3 Months Ended

Mar. 31, 2020

Restructuring and Related Activities [Abstract]

Restructuring and Other Related Charges

RESTRUCTURING AND OTHER RELATED CHARGES

Restructuring and other related charges as classified in our condensed consolidated statements of income (loss) were as follows:



	Three Months Ended March 31,
(in thousands)	2020		2019
Segment restructuring charges:
Production & Automation Technologies	$	671	$	410
Drilling Technologies	2,095		—
Total	$	2,766	$	410

Statements of Income (Loss) classification:
Cost of goods and services	$	2,039	$	331
Selling, general and administrative expense	727		79
Total	$	2,766	$	410

Restructuring and other related charges during the three months ended March 31, 2020 were due to costs associated with employee severance and related benefits at our Production & Automation Technologies and Drilling Technologies segments. These programs were initiated to better align our costs and operations with current market conditions.

The following table details our restructuring accrual activities during the three months ended March 31, 2020:



(in thousands)	Restructuring Accrual Balance
December 31, 2019	$	130
Restructuring charges	2,766
Payments	(516		)
Other, including foreign currency translation	117
March 31, 2020	$	2,497

Our liability balance for restructuring and other exit activities at March 31, 2020, reflects employee severance and related benefits initiated during the period. Additional programs may be initiated during 2020 with related restructuring charges.

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES For the three months ended March 31, 2020, we recorded a tax benefit of $27.0 million on a loss before income taxes of $660.5 million, resulting in an effective tax rate of 4.1%. The effective tax rate was primarily impacted by the tax effects of impairment of non-taxable goodwill of $560.1 million, recognized as a discrete item during the quarter. During the three months ended March 31, 2019, we recorded income tax expense of $5.6 million on earnings before income tax of $25.5 million, resulting in an effective tax rate of 21.8%. On March 27, 2020, as part of the business stimulus package in response to the COVID-19 pandemic, the U.S. federal government enacted the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) to provide relief to businesses impacted by the disruptions of the COVID-19 pandemic. The CARES Act provides the opportunity to utilize a five year carryback of net operating losses generated in years 2018 through 2020. Our effective tax rate was not materially impacted by the CARES Act for the three months ended March 31, 2020; however, as the carryback period is prior to the Separation we are continuing to evaluate the potential benefit to Apergy for future periods in connection with the tax matters agreement with Dover.

Employee Benefit Plans	3 Months Ended
Employee Benefit Plans	Mar. 31, 2020
Defined Benefit Plan [Abstract]
Employee Benefit Plans	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">EQUITY AND CASH INCENTIVE PROGRAMS</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Components of net periodic benefit cost were as follows:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:39%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Pensions</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Other post-retirement benefits</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Three Months Ended March 31, </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Three Months Ended March 31, </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(in thousands)</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Service cost</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">224</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">194</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest cost</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">138</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">155</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">93</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">126</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expected return on plan assets</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(212</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(190</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amortization of prior service cost</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amortization of actuarial loss</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">63</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">40</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">69</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">50</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amortization of transition obligation</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Settlement loss</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">486</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(39</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(53</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net periodic benefit cost</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">221</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">647</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">162</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">123</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div>

Equity and Cash Incentive Program

3 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement, Noncash Expense [Abstract]

Equity and Cash Incentive Program

EQUITY AND CASH INCENTIVE PROGRAMS

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



	Three Months Ended March 31,
(in thousands)	2020			2019
Stock-based compensation expense	$	2,429		$	2,285
Tax benefit	(599		)	(558		)
Stock-based compensation expense, net of tax	$	1,830		$	1,727

A summary of activity relating to our share-based awards for the three months ended March 31, 2020, was as follows:



(in shares)	Stock-Settled Appreciation Rights		Performance Share Awards		Restricted Stock Units
Outstanding at January 1, 2020	422,361		174,726		440,048
Granted	—		—		164,513
Forfeited	(1,758	)	(5,011	)	(12,657	)
Exercised / vested	—		—		(62,740	)
Outstanding at March 31, 2020	420,603		169,715		529,164

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS We had no outstanding derivative contracts as of March 31, 2020 and December 31, 2019. Other assets and liabilities measured at fair value on a recurring basis as of March 31, 2020 and December 31, 2019, 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 $233.5 million at March 31, 2020, 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 $246.5 million at March 31, 2020, as compared to the $265.0 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. We consider the inputs for our long-lived asset and goodwill impairment calculations to be Level 3 inputs in the fair value hierarchy. See Note 4—Asset Impairments for further information.

- Definition

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

3 Months Ended

Mar. 31, 2020

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 March 31,
(in thousands)	2020			2019
Segment revenue:
Production & Automation Technologies	$	205,479		$	222,959
Drilling Technologies	55,955			77,535
Total revenue	$	261,434		$	300,494

Income before income taxes:
Segment operating profit:
Production & Automation Technologies	$	(648,591	)	$	13,064
Drilling Technologies	11,359			26,806
Total segment operating profit	(637,232		)	39,870
Corporate expense and other ⁽¹⁾	14,190			3,836
Interest expense, net	9,039			10,527
Income before income taxes	$	(660,461	)	$	25,507

_______________________

(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, and the results attributable to our noncontrolling interest.

Cash Flow Information Cash Flow Information

3 Months Ended

Mar. 31, 2020

Supplemental Cash Flow Elements [Abstract]

Cash Flow Information

CASH FLOW INFORMATION

Supplemental cash flow information is as follows:



	Three Months Ended March 31,
(in thousands)	2020		2019
Non-cash information:
Finance lease additions	$	942	$	1,326

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 three months ended March 31, 2020 and March 31, 2019, we transferred $7.2 million and $19.8 million, respectively, of inventory into property, plant, and equipment as a result of assets entering our leased asset program.

Expenditures for assets, having a useful life of greater than one year, that are expected to be placed into our lease asset program are reported in “Capital expenditures” in the investing section of our condensed consolidated statements of cash flows. During the three months ended March 31, 2020 and 2019, such expenditures were estimated to be $1.4 million and $5.8 million, respectively. Expenditures for assets that are expected to be placed into our leased asset program and with a useful life of one year are reported in “Leased assets” in the operating section of our condensed consolidated statement of cash flows. The recovery of the carrying value from the sale of assets on lease is presented in “Leased assets” in the operating section of our condensed consolidated statements of cash flows.

Basis of Presentation (Policies)

3 Months Ended

Mar. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of presentation

Basis of Presentation

Revisions

Revisions and Reclassifications

Condensed Consolidated Statement of Income



	Three Months Ended March 31, 2019
(in thousands, except per share data)	As Reported		Adjustments			As Revised
Product revenue	$	269,534	$	(192	)	$	269,342
Other revenue ⁽¹⁾	32,157		(1,005		)	31,152
Total revenue	301,691		(1,197		)	300,494
Cost of goods and services	196,142		1,341			197,483
Gross profit	105,549		(2,538		)	103,011
Selling, general and administrative expense	63,601		528			64,129
Long-lived asset impairment ⁽²⁾	1,746		—			1,746
Interest expense, net	10,474		53			10,527
Other expense, net	1,090		12			1,102
Income before income taxes	28,638		(3,131		)	25,507
Provision for (benefit from) income taxes	6,069		(500		)	5,569
Net income	22,569		(2,631		)	19,938
Net income attributable to noncontrolling interest	282		—			282
Net income attributable to Apergy	$	22,287	$	(2,631	)	$	19,656

Earnings (loss) per share attributable to Apergy:
Basic	$	0.29	$	(0.04	)	$	0.25
Diluted	$	0.29	$	(0.04	)	$	0.25

Comprehensive income	$	23,758	$	(2,631	)	$	21,127
Comprehensive income attributable to Apergy	$	23,476	$	(2,631	)	$	20,845

_______________________

⁽¹⁾ Includes “Service revenue” and “Lease and other revenue” as reported in the condensed consolidated statements of income for the three months ended March 31, 2019.

Condensed Consolidated Statement of Changes in Stockholders’ Equity



	March 31, 2019
(in thousands)	As Reported		Adjustments			As Revised
Stockholders’ Equity:
Capital in excess of par value of common stock	$	966,938	$	(4,599	)	$	962,339
Retained earnings	76,454		(1,914		)	74,540
Total equity	1,005,203		(6,513		)	998,690



(in thousands)	As Reported			Adjustments			As Revised
Total equity at December 31, 2018	$	981,527		$	(5,544	)	$	975,983
Cumulative effect of accounting changes	(1,662		)	1,662			—
Net income	22,569			(2,631		)	19,938
Total equity at March 31, 2019	1,005,203			(6,513		)	998,690

Condensed Consolidated Statements of Cash Flows



	Three Months Ended March 31, 2019
(in thousands)	As Reported			Adjustments			As Revised
Cash provided (required) by operating activities:
Net income	$	22,569		$	(2,631	)	$	19,938
Adjustments to reconcile net income to net cash provided (required) by operating activities:
Depreciation	17,080			(9		)	17,071
Deferred income taxes	(5,366		)	(490		)	(5,856		)
Loss (gain) on sale of fixed assets ⁽¹⁾	12			—			12
Provision for losses on accounts receivable ⁽¹⁾	(117		)	—			(117		)
Amortization of deferred loan costs and accretion of discount ⁽¹⁾	648			—			648
Other	131			(22		)	109
Changes in operating assets and liabilities (net of effects of foreign exchange):
Receivables	(8,462		)	1,202			(7,260		)
Inventories	(2,229		)	2,893			664
Accounts payable	(6,279		)	(1,881		)	(8,160		)
Accrued compensation and employee benefits	(12,827		)	2,243			(10,584		)
Accrued expenses and other liabilities	13,849			(2,273		)	11,576
Leased assets	(21,460		)	959			(20,501		)
Other	620			9			629

_______________________

Recently Adopted Accounting Standards

Basis of Presentation (Tables)

3 Months Ended

Mar. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Revisions to Previously Issued Financial Statements

See the following table for the impact of the corrections on our condensed consolidated financial statements:

Condensed Consolidated Statement of Income



	Three Months Ended March 31, 2019
(in thousands, except per share data)	As Reported		Adjustments			As Revised
Product revenue	$	269,534	$	(192	)	$	269,342
Other revenue ⁽¹⁾	32,157		(1,005		)	31,152
Total revenue	301,691		(1,197		)	300,494
Cost of goods and services	196,142		1,341			197,483
Gross profit	105,549		(2,538		)	103,011
Selling, general and administrative expense	63,601		528			64,129
Long-lived asset impairment ⁽²⁾	1,746		—			1,746
Interest expense, net	10,474		53			10,527
Other expense, net	1,090		12			1,102
Income before income taxes	28,638		(3,131		)	25,507
Provision for (benefit from) income taxes	6,069		(500		)	5,569
Net income	22,569		(2,631		)	19,938
Net income attributable to noncontrolling interest	282		—			282
Net income attributable to Apergy	$	22,287	$	(2,631	)	$	19,656

Earnings (loss) per share attributable to Apergy:
Basic	$	0.29	$	(0.04	)	$	0.25
Diluted	$	0.29	$	(0.04	)	$	0.25

Comprehensive income	$	23,758	$	(2,631	)	$	21,127
Comprehensive income attributable to Apergy	$	23,476	$	(2,631	)	$	20,845

_______________________

⁽¹⁾ Includes “Service revenue” and “Lease and other revenue” as reported in the condensed consolidated statements of income for the three months ended March 31, 2019.

Condensed Consolidated Statement of Changes in Stockholders’ Equity



	March 31, 2019
(in thousands)	As Reported		Adjustments			As Revised
Stockholders’ Equity:
Capital in excess of par value of common stock	$	966,938	$	(4,599	)	$	962,339
Retained earnings	76,454		(1,914		)	74,540
Total equity	1,005,203		(6,513		)	998,690



(in thousands)	As Reported			Adjustments			As Revised
Total equity at December 31, 2018	$	981,527		$	(5,544	)	$	975,983
Cumulative effect of accounting changes	(1,662		)	1,662			—
Net income	22,569			(2,631		)	19,938
Total equity at March 31, 2019	1,005,203			(6,513		)	998,690

Condensed Consolidated Statements of Cash Flows



	Three Months Ended March 31, 2019
(in thousands)	As Reported			Adjustments			As Revised
Cash provided (required) by operating activities:
Net income	$	22,569		$	(2,631	)	$	19,938
Adjustments to reconcile net income to net cash provided (required) by operating activities:
Depreciation	17,080			(9		)	17,071
Deferred income taxes	(5,366		)	(490		)	(5,856		)
Loss (gain) on sale of fixed assets ⁽¹⁾	12			—			12
Provision for losses on accounts receivable ⁽¹⁾	(117		)	—			(117		)
Amortization of deferred loan costs and accretion of discount ⁽¹⁾	648			—			648
Other	131			(22		)	109
Changes in operating assets and liabilities (net of effects of foreign exchange):
Receivables	(8,462		)	1,202			(7,260		)
Inventories	(2,229		)	2,893			664
Accounts payable	(6,279		)	(1,881		)	(8,160		)
Accrued compensation and employee benefits	(12,827		)	2,243			(10,584		)
Accrued expenses and other liabilities	13,849			(2,273		)	11,576
Leased assets	(21,460		)	959			(20,501		)
Other	620			9			629

_______________________

New Accounting Standards (Tables)

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Schedule of Rollforward of Allowance for Credit Losses

The following table provides a rollforward of our allowance for credit losses balance:



(in thousands)	Allowance for Credit Losses
December 31, 2019	$	8,072
Impact of adoption on January 1, 2020	2,042
Provision for expected credit losses	2,427
Accounts written off	(1,207		)
Foreign currency translation	(55		)
March 31, 2020	$	11,279

Inventories (Tables)

3 Months Ended

Mar. 31, 2020

Inventory, Net [Abstract]

Components of Inventory

Inventories consisted of the following:



(in thousands)	March 31, 2020			December 31, 2019
Raw materials	$	47,542		$	50,099
Work in progress	13,438			13,325
Finished goods	170,370			175,774
	231,350			239,198
LIFO and valuation adjustments	(24,402		)	(27,856		)
Inventories, net	$	206,948		$	211,342

Asset Impairments (Tables)

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The carrying amount of goodwill, including changes therein, by reporting segment is below:



(in thousands)	Production & Automation Technologies			Drilling Technologies		Total
December 31, 2019	$	809,977		$	101,136	$	911,113
Impairment	(616,271		)	—		(616,271		)
Foreign currency translation	(3,124		)	—		(3,124		)
March 31, 2020	$	190,582		$	101,136	$	291,718

Schedule of Finite-Lived Intangible Assets

The components of our definite- and indefinite-lived intangible assets were as follows:



	March 31, 2020						December 31, 2019
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Definite-lived intangible assets:
Customer relationships ⁽¹⁾	$	442,696	$	287,833	$	154,863	$	560,316	$	353,189	$	207,127
Trademarks ⁽¹⁾	34,045		24,671		9,374		35,695		24,830		10,865
Patents	37,798		27,053		10,745		38,436		26,838		11,598
Unpatented technologies	13,700		9,878		3,822		13,700		9,811		3,889
Drawings and manuals	2,478		1,678		800		2,558		1,758		800
Other	5,199		4,477		722		5,332		4,504		828
	535,916		355,590		180,326		656,037		420,930		235,107
Indefinite-lived intangible assets:
Trademarks	3,600		—		3,600		3,600		—		3,600
Total	$	539,516	$	355,590	$	183,926	$	659,637	$	420,930	$	238,707

_______________________

Schedule of Indefinite-Lived Intangible Assets

The components of our definite- and indefinite-lived intangible assets were as follows:



	March 31, 2020						December 31, 2019
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Definite-lived intangible assets:
Customer relationships ⁽¹⁾	$	442,696	$	287,833	$	154,863	$	560,316	$	353,189	$	207,127
Trademarks ⁽¹⁾	34,045		24,671		9,374		35,695		24,830		10,865
Patents	37,798		27,053		10,745		38,436		26,838		11,598
Unpatented technologies	13,700		9,878		3,822		13,700		9,811		3,889
Drawings and manuals	2,478		1,678		800		2,558		1,758		800
Other	5,199		4,477		722		5,332		4,504		828
	535,916		355,590		180,326		656,037		420,930		235,107
Indefinite-lived intangible assets:
Trademarks	3,600		—		3,600		3,600		—		3,600
Total	$	539,516	$	355,590	$	183,926	$	659,637	$	420,930	$	238,707

_______________________

Debt (Tables)

3 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Schedule of Debt

Long-term debt consisted of the following:



(in thousands)	March 31, 2020			December 31, 2019
Revolving credit facility	$	—		$	—
Term loan facility	265,000			265,000
6.375% Senior Notes due 2026	300,000			300,000
Finance lease obligations	4,079			4,530
Total	569,079			569,530
Net unamortized discounts and issuance costs	(9,547		)	(9,709		)
Total long-term debt	$	559,532		$	559,821

Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Mar. 31, 2020

Stockholders' Equity Note [Abstract]

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, 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	)



(in thousands)	Foreign Currency Translation			Defined Pension and Other Post-Retirement Benefits			Accumulated Other Comprehensive Loss
December 31, 2019	$	(35,210	)	$	(8,827	)	$	(44,037	)
Other comprehensive loss before reclassifications, net of tax	(11,052		)	—			(11,052		)
Reclassification adjustment for net losses included in net income, net of tax	—			99			99
Other comprehensive income (loss), net of tax	(11,052		)	99			(10,953		)
March 31, 2020	$	(46,262	)	$	(8,728	)	$	(54,990	)

Schedule of Reclassifications from Accumulated Other Comprehensive Loss

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



	Three Months Ended March 31,						Affected line items on the condensed consolidated statements of income
(in thousands)	2020			2019
Amortization of actuarial loss and other	$	132		$	91		Other (income) expense, net
Settlement loss	—			486			Other (income) expense, net
Total before tax	132			577			Income (loss) before income taxes
Tax benefit	(33		)	(155		)	Provision for (benefit from) income taxes
	$	99		$	422		Net income (loss)

Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2020

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 (loss) per share calculation was as follows:



	Three Months Ended March 31,
(in thousands, except per share data)	2020			2019
Net income (loss) attributable to Apergy	$	(633,728	)	$	19,656

Weighted-average number of shares outstanding	77,477			77,363
Dilutive effect of stock-based compensation ⁽¹⁾	—			277
Total shares and dilutive securities	77,477			77,640

Basic earnings (loss) per share attributable to Apergy	$	(8.18	)	$	0.25
Diluted earnings (loss) per share attributable to Apergy	$	(8.18	)	$	0.25

_______________________

(1)

Revenue (Tables)

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

Revenue disaggregated by revenue type was as follows:



	Three Months Ended March 31,
(in thousands)	2020		2019
Product revenue	$	230,882	$	269,342
Service revenue	18,487		20,421
Lease and other revenue	12,065		10,731
Total revenue	$	261,434	$	300,494

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



	Three Months Ended March 31,
(in thousands)	2020			2019
Drilling Technologies	$	55,955		$	77,535
Production & Automation Technologies:
Artificial lift	159,400			170,907
Digital products	33,922			31,290
Other production equipment	12,259			21,005
Intra-segment eliminations	(102		)	(243		)
	205,479			222,959
Total revenue	$	261,434		$	300,494

Revenue disaggregated by geography was as follows:



	Three Months Ended March 31,
(in thousands)	2020		2019
United States	$	195,370	$	231,358
Canada	17,952		18,915
Middle East	12,363		13,604
Europe	12,030		16,959
Australia	9,268		5,982
Latin America	7,582		7,722
Asia-Pacific	5,486		5,545
Other	1,383		409
Total revenue	$	261,434	$	300,494

Schedule of Contract Balances

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



(in thousands)	March 31, 2020		December 31, 2019
Contract assets	$	6	$	285
Contract liabilities - current	9,393		6,148

Restructuring and Other Related Charges (Tables)

3 Months Ended

Mar. 31, 2020

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs

Restructuring and other related charges as classified in our condensed consolidated statements of income (loss) were as follows:



	Three Months Ended March 31,
(in thousands)	2020		2019
Segment restructuring charges:
Production & Automation Technologies	$	671	$	410
Drilling Technologies	2,095		—
Total	$	2,766	$	410

Statements of Income (Loss) classification:
Cost of goods and services	$	2,039	$	331
Selling, general and administrative expense	727		79
Total	$	2,766	$	410

The following table details our restructuring accrual activities during the three months ended March 31, 2020:



(in thousands)	Restructuring Accrual Balance
December 31, 2019	$	130
Restructuring charges	2,766
Payments	(516		)
Other, including foreign currency translation	117
March 31, 2020	$	2,497

Employee Benefit Plans (Tables)	3 Months Ended
Employee Benefit Plans (Tables)	Mar. 31, 2020
Defined Benefit Plan [Abstract]
Schedule of Net Benefit Costs	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Components of net periodic benefit cost were as follows:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="16" rowspan="1"></td></tr><tr><td style="width:39%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:12%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Pensions</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Other post-retirement benefits</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Three Months Ended March 31, </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Three Months Ended March 31, </font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(in thousands)</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Service cost</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">224</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">194</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest cost</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">138</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">155</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">93</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">126</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expected return on plan assets</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(212</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(190</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amortization of prior service cost</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amortization of actuarial loss</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">63</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">40</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">69</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">50</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amortization of transition obligation</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Settlement loss</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">486</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(39</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(53</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net periodic benefit cost</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">221</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">647</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">162</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">123</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div>

Equity and Cash Incentive Program (Tables)

3 Months Ended

Mar. 31, 2020

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 March 31,
(in thousands)	2020			2019
Stock-based compensation expense	$	2,429		$	2,285
Tax benefit	(599		)	(558		)
Stock-based compensation expense, net of tax	$	1,830		$	1,727

Summary of Activity Related to Share-Based Awards

A summary of activity relating to our share-based awards for the three months ended March 31, 2020, was as follows:



(in shares)	Stock-Settled Appreciation Rights		Performance Share Awards		Restricted Stock Units
Outstanding at January 1, 2020	422,361		174,726		440,048
Granted	—		—		164,513
Forfeited	(1,758	)	(5,011	)	(12,657	)
Exercised / vested	—		—		(62,740	)
Outstanding at March 31, 2020	420,603		169,715		529,164

Segment Information (Tables)

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Schedule of Segment Revenue and Operating Profit

Segment revenue and segment operating profit were as follows:



	Three Months Ended March 31,
(in thousands)	2020			2019
Segment revenue:
Production & Automation Technologies	$	205,479		$	222,959
Drilling Technologies	55,955			77,535
Total revenue	$	261,434		$	300,494

Income before income taxes:
Segment operating profit:
Production & Automation Technologies	$	(648,591	)	$	13,064
Drilling Technologies	11,359			26,806
Total segment operating profit	(637,232		)	39,870
Corporate expense and other ⁽¹⁾	14,190			3,836
Interest expense, net	9,039			10,527
Income before income taxes	$	(660,461	)	$	25,507

_______________________

(1)

Cash Flow Information (Tables)

3 Months Ended

Mar. 31, 2020

Supplemental Cash Flow Elements [Abstract]

Schedule of Supplemental Cash Flow Information

Supplemental cash flow information is as follows:



	Three Months Ended March 31,
(in thousands)	2020		2019
Non-cash information:
Finance lease additions	$	942	$	1,326

Basis of Presentation - Schedule of Revisions to Previously Issued Financial Statements (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Total revenue	$ 261,434	$ 300,494
Cost of goods and services	179,095	197,483
Gross profit	82,339	103,011
Selling, general and administrative expense	78,143	64,129
Long-lived asset impairment	40,980	1,746
Interest expense, net	9,039	10,527
Other (income) expense, net	(1,633)	1,102
Income (loss) before income taxes	(660,461)	25,507
Provision for (benefit from) income taxes	(27,006)	5,569
Net income (loss)	(633,455)	19,938
Net income attributable to noncontrolling interest	273	282
Net income (loss) attributable to Apergy	$ (633,728)	$ 19,656
Earnings per share attributable to Apergy:
Basic (in dollars per share)	$ (8.18)	$ 0.25
Diluted (in dollars per share)	$ (8.18)	$ 0.25
Comprehensive income	$ (644,408)	$ 21,127
Comprehensive income attributable to Apergy	(644,681)	20,845
Stockholders' Equity Attributable to Parent [Abstract]
Beginning balance	1,036,214	975,983
Net income	(633,455)	19,938
Ending balance	392,294	998,690
Adjustments to reconcile net income to net cash provided (required) by operating activities:
Depreciation	16,970	17,071
Deferred income taxes	(28,417)	(5,856)
Loss (gain) on sale of fixed assets	(386)	12
Provision for losses on accounts receivable	2,427	(117)
Amortization of deferred loan costs and accretion of discount	708	648
Other	349	109
Changes in operating assets and liabilities (net of effects of foreign exchange):
Receivables	(6,740)	(7,260)
Inventories	6,587	664
Accounts payable	3,068	(8,160)
Accrued compensation and employee benefits	(9,799)	(10,584)
Accrued expenses and other liabilities	12,153	11,576
Leased assets	(7,972)	(20,501)
Other	(3,325)	629
Product revenue
Income Statement [Abstract]
Revenue	230,882	269,342
Lease and other revenue
Income Statement [Abstract]
Revenue	30,552	31,152
As Reported
Income Statement [Abstract]
Total revenue		301,691
Cost of goods and services		196,142
Gross profit		105,549
Selling, general and administrative expense		63,601
Long-lived asset impairment		1,746
Interest expense, net		10,474
Other (income) expense, net		1,090
Income (loss) before income taxes		28,638
Provision for (benefit from) income taxes		6,069
Net income (loss)		22,569
Net income attributable to noncontrolling interest		282
Net income (loss) attributable to Apergy		$ 22,287
Earnings per share attributable to Apergy:
Basic (in dollars per share)		$ 0.29
Diluted (in dollars per share)		$ 0.29
Comprehensive income		$ 23,758
Comprehensive income attributable to Apergy		23,476
Stockholders' Equity Attributable to Parent [Abstract]
Beginning balance		981,527
Net income		22,569
Ending balance		1,005,203
Adjustments to reconcile net income to net cash provided (required) by operating activities:
Depreciation		17,080
Deferred income taxes		(5,366)
Loss (gain) on sale of fixed assets		12
Provision for losses on accounts receivable		(117)
Amortization of deferred loan costs and accretion of discount		648
Other		131
Changes in operating assets and liabilities (net of effects of foreign exchange):
Receivables		(8,462)
Inventories		(2,229)
Accounts payable		(6,279)
Accrued compensation and employee benefits		(12,827)
Accrued expenses and other liabilities		13,849
Leased assets		(21,460)
Other		620
As Reported \| Product revenue
Income Statement [Abstract]
Revenue		269,534
As Reported \| Lease and other revenue
Income Statement [Abstract]
Revenue		32,157
Adjustments
Income Statement [Abstract]
Total revenue		(1,197)
Cost of goods and services		1,341
Gross profit		(2,538)
Selling, general and administrative expense		528
Long-lived asset impairment		0
Interest expense, net		53
Other (income) expense, net		12
Income (loss) before income taxes		(3,131)
Provision for (benefit from) income taxes		(500)
Net income (loss)		(2,631)
Net income attributable to noncontrolling interest		0
Net income (loss) attributable to Apergy		$ (2,631)
Earnings per share attributable to Apergy:
Basic (in dollars per share)		$ (0.04)
Diluted (in dollars per share)		$ (0.04)
Comprehensive income		$ (2,631)
Comprehensive income attributable to Apergy		(2,631)
Stockholders' Equity Attributable to Parent [Abstract]
Beginning balance		(5,544)
Net income		(2,631)
Ending balance		(6,513)
Adjustments to reconcile net income to net cash provided (required) by operating activities:
Depreciation		(9)
Deferred income taxes		(490)
Loss (gain) on sale of fixed assets		0
Provision for losses on accounts receivable		0
Amortization of deferred loan costs and accretion of discount		0
Other		(22)
Changes in operating assets and liabilities (net of effects of foreign exchange):
Receivables		1,202
Inventories		2,893
Accounts payable		(1,881)
Accrued compensation and employee benefits		2,243
Accrued expenses and other liabilities		(2,273)
Leased assets		959
Other		9
Adjustments \| Product revenue
Income Statement [Abstract]
Revenue		(192)
Adjustments \| Lease and other revenue
Income Statement [Abstract]
Revenue		(1,005)
Cumulative Effect Adjustment
Stockholders' Equity Attributable to Parent [Abstract]
Beginning balance	(1,573)	0
Cumulative Effect Adjustment \| As Reported
Stockholders' Equity Attributable to Parent [Abstract]
Beginning balance		(1,662)
Cumulative Effect Adjustment \| Adjustments
Stockholders' Equity Attributable to Parent [Abstract]
Beginning balance		1,662
Common Stock, Capital in excess of par value
Stockholders' Equity Attributable to Parent [Abstract]
Beginning balance	969,174	960,773
Ending balance	971,235	962,339
Common Stock, Capital in excess of par value \| As Reported
Stockholders' Equity Attributable to Parent [Abstract]
Ending balance		966,938
Common Stock, Capital in excess of par value \| Adjustments
Stockholders' Equity Attributable to Parent [Abstract]
Ending balance		(4,599)
Retained Earnings (Accum. Deficit)
Income Statement [Abstract]
Net income (loss)	(633,728)	19,656
Stockholders' Equity Attributable to Parent [Abstract]
Beginning balance	107,048	54,884
Net income	(633,728)	19,656
Ending balance	(528,253)	74,540
Retained Earnings (Accum. Deficit) \| As Reported
Stockholders' Equity Attributable to Parent [Abstract]
Ending balance		76,454
Retained Earnings (Accum. Deficit) \| Adjustments
Stockholders' Equity Attributable to Parent [Abstract]
Ending balance		$ (1,914)
Retained Earnings (Accum. Deficit) \| Cumulative Effect Adjustment
Stockholders' Equity Attributable to Parent [Abstract]
Beginning balance	$ (1,573)

New Accounting Standards - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended
	Jan. 01, 2020	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reduction in retained earnings		$ 528,253		$ (107,048)
Income tax benefit		$ 27,006	$ (5,569)
Accounting Standards Update 2016-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reduction in retained earnings	$ 1,600
Income tax benefit	$ 500

New Accounting Standards - Allowance for Credit Losses Rollforward (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
December 31, 2019	$ 8,072
Provision for expected credit losses	2,427
Accounts written off	(1,207)
Foreign currency translation	(55)
March 31, 2020	$ 11,279

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Inventory, Net [Abstract]
Raw materials	$ 47,542	$ 50,099
Work in progress	13,438	13,325
Finished goods	170,370	175,774
Subtotal	231,350	239,198
LIFO and valuation adjustments	(24,402)	(27,856)
Inventories, net	$ 206,948	$ 211,342

Asset Impairments - Schedule of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Goodwill [Roll Forward]
Beginning balance	$ 911,113
Impairment	(616,271)	$ 0
Foreign currency translation	(3,124)
Ending balance	291,718
Production & Automation Technologies
Goodwill [Roll Forward]
Beginning balance	809,977
Impairment	(616,271)
Foreign currency translation	(3,124)
Ending balance	190,582
Drilling Technologies
Goodwill [Roll Forward]
Beginning balance	101,136
Impairment	0
Foreign currency translation	0
Ending balance	$ 101,136

Asset Impairments - Schedule of Definite and Indefinite Lived Intangibles (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets (excluding goodwill)	$ 41,000
Gross carrying amount	535,916		$ 656,037
Accumulated amortization	355,590		420,930
Net carrying amount	180,326		235,107
Intangible assets, gross (excluding goodwill)	539,516		659,637
Intangible assets, net	183,926		238,707
Trademarks
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived Intangible Assets (excluding goodwill)	3,600		3,600
Customer intangibles
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	442,696		560,316
Accumulated amortization	287,833		353,189
Net carrying amount	154,863		207,127
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	34,045		35,695
Accumulated amortization	24,671		24,830
Net carrying amount	9,374		10,865
Patents
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	37,798		38,436
Accumulated amortization	27,053		26,838
Net carrying amount	10,745		11,598
Unpatented technologies
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	13,700		13,700
Accumulated amortization	9,878		9,811
Net carrying amount	3,822		3,889
Drawings and manuals
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	2,478		2,558
Accumulated amortization	1,678		1,758
Net carrying amount	800		800
Other
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	5,199		5,332
Accumulated amortization	4,477		4,504
Net carrying amount	722		$ 828
Artificial lift \| Customer Relationships and Trademarks
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets (excluding goodwill)	$ 40,400	$ 600

Asset Impairments - Additional Information (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020 USD ($) $ / shares	Mar. 31, 2019 USD ($)	Mar. 23, 2020 $ / shares	Feb. 29, 2020 $ / shares
Finite-Lived Intangible Assets [Line Items]
Average closing price (in dollars per share) \| $ / shares	$ 8.26			$ 24.62
Stock price of common stock (in dollars per share) \| $ / shares			$ 3.02
Goodwill impairment	$ 616,271	$ 0
Impairment of intangible assets (excluding goodwill)	41,000
Production & Automation Technologies
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment	616,271
Production & Automation Technologies \| Artificial lift
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment	539,200
Production & Automation Technologies \| Automation technologies
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment	$ 77,100
Discount Rate \| Artificial lift
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment measurement input	0.145
Discount Rate \| Automation technologies
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment measurement input	0.165

Debt - Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Finance lease liabilities, noncurrent	$ 4,079
Capital lease obligations, noncurrent		$ 4,530
Total	569,079	569,530
Net unamortized discounts and issuance costs	(9,547)	(9,709)
Total long-term debt	559,532	559,821
Line of Credit
Debt Instrument [Line Items]
Long-term debt, gross	0	0
Term Loan Facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 265,000	$ 265,000
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

Debt - Narrative (Details) - USD ($)	Apr. 24, 2020	Mar. 31, 2020	Feb. 14, 2020
Line of Credit \| Amended Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 150,000,000
Term Loan Facility
Debt Instrument [Line Items]
Principal amount of debt issued		$ 265,000,000.0
Term Loan Facility \| Amended Credit Agreement
Debt Instrument [Line Items]
Principal amount of debt issued			$ 537,000,000
Subsequent Event
Debt Instrument [Line Items]
Proceeds from line of credit	$ 125,000,000.0
Remaining borrowing capacity	$ 118,900,000

Commitments and Contingencies (Details) - USD ($) $ in Millions	1 Months Ended
	Feb. 29, 2020	Mar. 31, 2020	Dec. 31, 2019
Loss Contingencies [Line Items]
Letters of credit outstanding and surety bonds, amount		$ 15.2	$ 15.7
Accrued liability - environmental			2.0
Tax Indemnification Agreement
Loss Contingencies [Line Items]
Indemnification liability			$ 3.4
Settlement amount	$ 3.0

Accumulated Other Comprehensive Loss - Accumulated other comprehensive loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 1,032,960
Other comprehensive income (loss)	(10,953)	$ 1,189
Ending balance	388,767
AOCI Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(44,037)	(42,906)
Other comprehensive income (loss) before reclassifications, net of tax	(11,052)	767
Reclassification adjustment for net losses included in net income, net of tax	99	422
Other comprehensive income (loss)	(10,953)	1,189
Ending balance	(54,990)	(41,717)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(35,210)	(36,146)
Other comprehensive income (loss) before reclassifications, net of tax	(11,052)	1,090
Reclassification adjustment for net losses included in net income, net of tax	0
Other comprehensive income (loss)	(11,052)	1,090
Ending balance	(46,262)	(35,056)
Defined Pension and Other Post-Retirement Benefits
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(8,827)	(6,760)
Other comprehensive income (loss) before reclassifications, net of tax	0	(323)
Reclassification adjustment for net losses included in net income, net of tax	99	422
Other comprehensive income (loss)	99	99
Ending balance	$ (8,728)	$ (6,661)

Accumulated Other Comprehensive Loss - Reclassifications from accumulated other comprehensive loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other (income) expense, net	$ (1,633)	$ 1,102
Total before tax	660,461	(25,507)
Tax benefit	(27,006)	5,569
Net income	633,455	(19,938)
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) And Net Transition Including Portion Attributable to Noncontrolling Interest \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other (income) expense, net	132	91
Accumulated Defined Benefit Plans Adjustment, Settlement Gain (Loss) Including Portion Attributable to Noncontrolling Interest \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other (income) expense, net		486
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	132	577
Tax benefit	(33)	(155)
Net income	$ 99	$ 422

- Definition

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

+ References

+ Details

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Net income attributable to Apergy	$ (633,728)	$ 19,656
Weighted-average number of shares outstanding	77,477	77,363
Dilutive effect of stock-based compensation	0	277
Total shares and dilutive securities	77,477	77,640
Basic earnings (loss) per share attributable to Apergy (in dollars per share)	$ (8.18)	$ 0.25
Diluted earnings (loss) per share attributable to Apergy (in dollars per share)	$ (8.18)	$ 0.25
Number of shares excluded due to anti-dilutive impact (in shares)		300

- Definition

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

+ References

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+ Details

- Definition

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.

+ References

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+ Details

- Definition

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

+ References + Details

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Lease and other revenue	$ 12,065	$ 10,731
Revenue	261,434	300,494
United States
Disaggregation of Revenue [Line Items]
Revenue	195,370	231,358
Canada
Disaggregation of Revenue [Line Items]
Revenue	17,952	18,915
Middle East
Disaggregation of Revenue [Line Items]
Revenue	12,363	13,604
Europe
Disaggregation of Revenue [Line Items]
Revenue	12,030	16,959
Australia
Disaggregation of Revenue [Line Items]
Revenue	9,268	5,982
Latin America
Disaggregation of Revenue [Line Items]
Revenue	7,582	7,722
Asia-Pacific
Disaggregation of Revenue [Line Items]
Revenue	5,486	5,545
Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,383	409
Product revenue
Disaggregation of Revenue [Line Items]
Revenue	230,882	269,342
Service revenue
Disaggregation of Revenue [Line Items]
Revenue	18,487	20,421
Drilling Technologies
Disaggregation of Revenue [Line Items]
Revenue	55,955	77,535
Production & Automation Technologies
Disaggregation of Revenue [Line Items]
Revenue	205,479	222,959
Production & Automation Technologies \| Intra-segment eliminations
Disaggregation of Revenue [Line Items]
Revenue	(102)	(243)
Production & Automation Technologies \| Artificial lift
Disaggregation of Revenue [Line Items]
Revenue	159,400	170,907
Production & Automation Technologies \| Digital products
Disaggregation of Revenue [Line Items]
Revenue	33,922	31,290
Production & Automation Technologies \| Other production equipment
Disaggregation of Revenue [Line Items]
Revenue	$ 12,259	$ 21,005

Revenue - Contract Balances (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Contract assets	$ 6	$ 285
Contract liabilities - current	$ 9,393	$ 6,148

Restructuring and Other Related Charges (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 2,766	$ 410
Cost of goods and services
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2,039	331
Selling, general and administrative expense
Restructuring Cost and Reserve [Line Items]
Restructuring charges	727	79
Production & Automation Technologies
Restructuring Cost and Reserve [Line Items]
Restructuring charges	671	410
Drilling Technologies
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 2,095	$ 0

Restructuring and Other Related Charges - Restructuring Reserve Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Restructuring and Related Activities [Abstract]
Beginning balance	$ 130
Restructuring charges	2,766	$ 410
Payments	(516)
Other, including foreign currency translation	117
Ending balance	$ 2,497

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ (27,006)	$ 5,569
Impairment of non-taxable goodwill, amount impacting the effective tax rate	560,100
Income (loss) before income taxes	$ (660,461)	$ 25,507
Effective tax rate (as a percent)	4.10%	21.80%

Employee Benefit Plans - Schedule of Net Benefit Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Pensions
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 224	$ 194
Interest cost	138	155
Expected return on plan assets	(212)	(190)
Amortization of prior service cost	8	0
Amortization of actuarial loss	63	40
Amortization of transition obligation	0	1
Settlement loss	0	486
Other	0	(39)
Net periodic benefit cost	221	647
Other post-retirement benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0
Interest cost	93	126
Expected return on plan assets	0	0
Amortization of prior service cost	0	0
Amortization of actuarial loss	69	50
Amortization of transition obligation	0	0
Settlement loss	0	0
Other	0	(53)
Net periodic benefit cost	$ 162	$ 123

Equity and Cash Incentive Program (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Stock-based compensation expense [Abstract]
Stock-based compensation expense	$ 2,429	$ 2,285
Tax benefit	(599)	(558)
Stock-based compensation expense, net of tax	$ 1,830	$ 1,727
Stock-Settled Appreciation Rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, beginning balance (in shares)	422,361
Granted (in shares)	0
Forfeited (in shares)	(1,758)
Exercised/vested (in shares)	0
Outstanding, ending balance (in shares)	420,603
Performance Share Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, beginning balance (in shares)	174,726
Granted (in shares)	0
Forfeited (in shares)	(5,011)
Exercised/vested (in shares)	0
Outstanding, ending balance (in shares)	169,715
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, beginning balance (in shares)	440,048
Granted (in shares)	164,513
Forfeited (in shares)	(12,657)
Exercised/vested (in shares)	(62,740)
Outstanding, ending balance (in shares)	529,164

Fair Value Measurements (Details) $ in Millions	Mar. 31, 2020 USD ($)
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	$ 300.0
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	233.5
Term Loan Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Principal amount of debt issued	265.0
Term Loan Facility \| Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, fair value	$ 246.5

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
Segment Information (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	$ 261,434	$ 300,494
Reconciliation of Earnings from Continuing Operations from Segments to Consolidated [Abstract]
Income (loss) before income taxes	(660,461)	25,507
Production & Automation Technologies
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	205,479	222,959
Reconciliation of Earnings from Continuing Operations from Segments to Consolidated [Abstract]
Income (loss) before income taxes	(648,591)	13,064
Drilling Technologies
Reconciliation from Segment Totals to Consolidated [Abstract]
Revenue	55,955	77,535
Reconciliation of Earnings from Continuing Operations from Segments to Consolidated [Abstract]
Income (loss) before income taxes	11,359	26,806
Total segment operating profit
Reconciliation of Earnings from Continuing Operations from Segments to Consolidated [Abstract]
Income (loss) before income taxes	(637,232)	39,870
Corporate expense and other
Reconciliation of Earnings from Continuing Operations from Segments to Consolidated [Abstract]
Income (loss) before income taxes	(14,190)	(3,836)
Interest expense, net
Reconciliation of Earnings from Continuing Operations from Segments to Consolidated [Abstract]
Income (loss) before income taxes	$ (9,039)	$ (10,527)

Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
Cash Flow Information (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Non-cash information for finance lease additions	$ 942	$ 1,326
Transfers from inventory	7,200	19,800
Assets Leased to Others
Capital expenditures	$ 1,400	$ 5,800

Label	Element	Value
Cumulative Effect, Period Of Adoption, Adjustment [Member]
Financing Receivable, Allowance for Credit Loss	us-gaap_FinancingReceivableAllowanceForCreditLosses	$ 2,042,000