0001723089-21-000047 | 10-K | XBRL Viewer

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Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2020	Feb. 22, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-38441
Entity Registrant Name	ChampionX Corp
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
Title of 12(b) Security	Common stock, $0.01 par value
Trading Symbol	CHX
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1,948,052,871
Entity Common Stock, Shares Outstanding		200,463,940
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement relating to its 2021 annual meeting of stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated, or such information will be included in an amendment to this Form 10-K in accordance with Instruction G(3) of Form 10-K.
Entity Central Index Key	0001723089
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false

CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Operating Lease, Lease Income

$ 58,443

$ 48,600

$ 44,605

Total revenue

1,899,996

1,131,251

1,218,156

Cost of goods and services

1,490,824

754,147

801,152

Gross profit

409,172

377,104

417,004

Selling, general and administrative expense

463,767

274,268

263,957

Goodwill impairment

616,271

Long-lived asset impairment

40,980

1,746

990

Interest expense, net

51,731

39,301

27,648

Other expense, net

(828)

2,603

3,056

Income (loss) before income taxes

(762,749)

59,186

121,353

Provision for (benefit from) income taxes

(20,396)

6,226

28,162

Net income (loss)

(742,353)

52,960

93,191

Less: Net income attributable to noncontrolling interest

1,577

796

454

Net income (loss) attributable to ChampionX

$ (743,930)

$ 52,164

$ 92,737

Earnings (losses) per share attributable to ChampionX:

Basic (in dollars per share)

^[1]

$ (5.01)

$ 0.67

$ 1.20

Diluted (in dollars per share)

^[1]

$ (5.01)

$ 0.67

$ 1.19

Weighted-average shares outstanding:

Basic (in shares)

^[1]

148,370

77,427

77,342

Diluted (in shares)

^[1]

148,370

77,624

77,692

Product

Product and service revenue

$ 1,623,464

$ 986,341

$ 1,072,917

Service

Product and service revenue

$ 218,089

$ 96,310

$ 100,634

[1]	See Note 15—Earnings Per Share.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (742,353)	$ 52,960	$ 93,191
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	20,245	936	(14,210)
Cash flow hedges	(2,320)	0	0
Pension and other post-retirement benefit plans:
Net actuarial gain (loss) arising during period	(5,526)	(2,521)	856
Prior service cost arising during period	22	(190)	0
Reclassification adjustment for net actuarial loss included in net income	356	272	247
Reclassification adjustment for prior service costs included in net income	0	1	0
Reclassification adjustment for settlement losses included in net income	505	371	353
Total pension and other post-retirement benefit plans	(4,643)	(2,067)	1,456
Other comprehensive income (loss)	13,282	(1,131)	(12,754)
Comprehensive income (loss)	(729,071)	51,829	80,437
Less: Comprehensive income attributable to noncontrolling interest	1,577	796	454
Comprehensive income (loss) attributable to ChampionX	$ (730,648)	$ 51,033	$ 79,983

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax	$ 0	$ 0	$ 0
Pension and other post-retirement benefit plans, tax	$ 1,878	$ 347	$ 352

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 201,421	$ 35,290
Receivables, net	559,545	219,874
Inventories, net	430,112	211,342
Prepaid expenses and other current assets	74,767	26,934
Total current assets	1,265,845	493,440
Property, plant and equipment, net of accumulated depreciation	854,536	248,181
Operating lease right-of-use assets	122,481	24,289
Goodwill	680,594	911,113
Intangible assets, net	479,009	238,707
Other non-current assets	73,311	7,095
Total assets	3,475,776	1,922,825
Liabilities and Equity
Current portion of long-term debt	26,850	0
Accounts payable	299,666	120,291
Accrued compensation and employee benefits	70,303	38,470
Current portion of operating lease liabilities	33,234	7,620
Accrued distributor fees	37,465	0
Accrued expenses and other current liabilities	155,042	33,300
Total current liabilities	622,560	199,681
Long-term debt	905,764	555,291
Deferred income taxes	156,283	84,060
Operating lease liabilities	83,553	19,419
Other long-term liabilities	95,041	28,160
Total liabilities	1,863,201	886,611
Stockholders’ equity:
Common stock	2,004	775
Capital in excess of par value of common stock	2,293,179	969,174
Retained earnings (accumulated deficit)	(638,457)	107,048
Accumulated other comprehensive loss	(30,755)	(44,037)
ChampionX stockholders’ equity	1,625,971	1,032,960
Noncontrolling interest	(13,396)	3,254
Total equity	1,612,575	1,036,214
Total liabilities and equity	$ 3,475,776	$ 1,922,825

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, shares authorized (in shares)	2,500,000,000	2,500,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued (in shares)	200,400,000	77,500,000
Common stock, shares outstanding (in shares)	200,400,000	77,500,000

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash provided by (used for) operating activities:
Net income (loss)	$ (742,353)	$ 52,960	$ 93,191
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	142,647	68,557	72,569
Amortization	71,715	51,381	51,892
Stock-based compensation	19,536	10,250	5,375
Loss (gain) on disposal of fixed assets	8,037	(2,046)	113
Loss on goodwill and long-lived asset impairment	657,251	1,746	990
Loss (gain) on sale of business	0	2,475	(1,286)
Provision for losses on accounts receivable	3,523	4,955	2,007
Provision for inventory obsolescence and write-downs	23,841	(141)	1,457
Amortization of deferred loan costs and accretion of discount	3,799	2,590	1,671
Deferred income taxes	(41,998)	(13,874)	1,492
Employee benefit plan expense	3,054	1,883	3,340
Other	3,306	3,733	428
Changes in operating assets and liabilities (net of effects of acquisitions and foreign exchange):
Receivables	58,210	25,948	(55,378)
Inventories	85,893	19,065	(40,018)
Prepaid expenses and other current assets	17,539	(10,742)	(3,750)
Accounts payable	(18,389)	(20,526)	40,393
Accrued compensation and employee benefits	9,669	(6,358)	8,454
Accrued expenses and other liabilities	6,674	4,406	12,095
Leased assets	(4,606)	(40,700)	(25,867)
Other	2,692	337	(5,268)
Net cash provided by operating activities	310,040	155,899	163,900
Cash provided by (used for) investing activities:
Capital expenditures	(45,163)	(39,780)	(57,918)
Acquisitions, net of cash acquired	57,588	(12,500)	0
Proceeds from sale of fixed assets	9,705	4,598	1,187
Proceeds from (payment on) sale of business	0	(2,194)	2,473
Purchase price adjustments on acquisition	0	0	53
Net cash provided by (used for) investing activities	22,130	(49,876)	(54,205)
Cash provided by (used for) financing activities:
Proceeds from long-term debt	125,000	36,500	713,963
Payment of debt issue costs	(4,356)	0	(16,006)
Repayment of long-term debt	(286,493)	(141,500)	(45,000)
Distributions to Dover Corporation, net	0	0	(736,557)
Distribution to noncontrolling interest	(2,175)	0	(2,720)
Payment of finance lease obligations	(5,139)	(5,555)	(4,518)
Payments related to taxes withheld on stock-based compensation	(3,089)	(1,848)	0
Proceeds from exercise of stock options	886	0	0
Net cash used for financing activities	(175,366)	(112,403)	(90,838)
Effect of exchange rate changes on cash and cash equivalents	9,327	(162)	(737)
Net increase (decrease) in cash and cash equivalents	166,131	(6,542)	18,120
Cash and cash equivalents at beginning of period	35,290	41,832	23,712
Cash and cash equivalents at end of period	$ 201,421	$ 35,290	$ 41,832

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common Stock, Par Value	Common Stock, Capital in excess of par value	Retained Earnings (Accum. Deficit)	Net Parent Investment	Accum. Other Comp. Loss	Non- controlling Interest	Cumulative Effect Adjustment	Cumulative Effect Adjustment Retained Earnings (Accum. Deficit)	Cumulative Effect Adjustment Net Parent Investment	Cumulative Effect Adjustment Accum. Other Comp. Loss
Beginning balance at Dec. 31, 2017	$ 1,635,509	$ 0	$ 0	$ 0	$ 1,657,176	$ (26,416)	$ 4,749	$ 0		$ 1,315	$ (1,315)
Net income (loss)	93,191			54,884	37,853		454
Other comprehensive loss	(12,754)					(12,754)
Net transfers to Dover	(742,054)				(739,633)	(2,421)
Reclassification of net parent investment	0		956,711		(956,711)
Issuance of common stock	0	773	(773)
Stock-based compensation	4,836	1	4,835
Distributions to noncontrolling interest	(2,720)						(2,720)
Other	(25)						(25)
Ending balance at Dec. 31, 2018	975,983	774	960,773	54,884	0	(42,906)	2,458
Net income (loss)	52,960			52,164			796
Other comprehensive loss	(1,131)					(1,131)
Stock-based compensation	10,250	1	10,249
Taxes withheld on issuance of stock-based awards	(1,848)		(1,848)
Ending balance at Dec. 31, 2019	1,036,214	775	969,174	107,048	0	(44,037)	3,254	$ (1,575)	$ (1,575)
Net income (loss)	(742,353)			(743,930)			1,577
Other comprehensive loss	13,282					13,282
Issuance of common stock	1,263,931	1,223	1,262,708
Issuance of replacement awards related to the Merger	43,964		43,964
Non-controlling interest acquired in the Merger	(16,052)						(16,052)
Stock-based compensation	19,540	4	19,536
Stock options exercised	888	2	886
Taxes withheld on issuance of stock-based awards	(3,089)		(3,089)
Distributions to noncontrolling interest	(2,175)						(2,175)
Ending balance at Dec. 31, 2020	$ 1,612,575	$ 2,004	$ 2,293,179	$ (638,457)	$ 0	$ (30,755)	$ (13,396)

Basis of Presentation and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation and Summary of Significant Accounting Policies

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

ChampionX Corporation is a global leader in chemistry solutions and 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 with a focus on the production phase of wells.

Unless the context requires otherwise, references in this report to “we,” “us,” “our,” “the Company,” or “ChampionX” mean ChampionX Corporation, together with our subsidiaries where the context requires.

On May 9, 2018, we became an independent, publicly traded company as a result of the spin-off (“Separation”) from Dover Corporation (“Dover”).

On June 3, 2020, the Company and Ecolab Inc. (“Ecolab”) completed a Reverse Morris Trust transaction in which Ecolab transferred their upstream energy business to ChampionX Holding Inc. (“legacy ChampionX”) and, thereafter, distributed all of the shares of legacy ChampionX common stock to certain Ecolab stockholders (“the Distribution”). Immediately following the Distribution, a wholly owned subsidiary of the Company merged with and into legacy ChampionX, with legacy ChampionX continuing as the surviving company in the Merger and as a wholly owned subsidiary of the Company (“the Merger”). In association with the completion of the Merger, the Company changed its name from Apergy Corporation (“Apergy” or “legacy Apergy”) to ChampionX Corporation.

Basis of Presentation

Our consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). All intercompany accounts and transactions have been eliminated.

Prior to the Separation, our results of operations, financial position, and cash flows were derived from the consolidated financial statements and accounting records of Dover and reflect the combined historical results of operations, financial position, and cash flows of certain Dover entities conducting its upstream oil and gas energy business within Dover’s Energy segment, including an allocated portion of Dover’s corporate costs. As such, our consolidated statement of income, comprehensive income and cash flows for the year ended December 31, 2018 consist of the consolidated results of legacy Apergy on a stand-alone basis from May 9, 2018 to December 31, 2018, and the combined results of operations and cash flows for periods prior to May 9, 2018.

For periods prior to the Separation, our combined financial statements include expense allocations for certain corporate functions historically performed by Dover and not allocated to its operating segments, including corporate executive management, human resources, information technology, facilities, tax, shared services, finance, and legal, including the costs of salaries, benefits and other related costs. These expense allocations were based on direct usage or benefit, where identifiable, with the remainder allocated on the basis of revenue, headcount, or other measures. Management believes the assumptions underlying these consolidated financial statements, including the assumptions regarding the allocation of corporate expenses from Dover for periods prior to the Separation, are reasonable. The allocations may not, however, reflect the expense we would have incurred as an independent, publicly traded company for the periods presented prior to the Separation. Actual costs that would have been incurred if we had been a stand-alone public company would depend on a variety of factors, including organizational structure and strategic decisions made in various areas, including information technology and infrastructure.

Prior to the Separation, transactions with Dover, with the exception of transactions discussed in Note 19—Related Party Transactions, are reflected in the combined statements of cash flows as a financing activity in Distributions to Dover Corporation, net. See Note 19—Related Party Transactions for additional information.

As a result of the Merger, the results of operations of legacy ChampionX have been reflected in our accompanying consolidated financial statements from the closing date of the Merger through December 31, 2020. Results for the periods prior to June 3, 2020 reflect the financial and operating results of Apergy and do not include the financial and operating results of legacy ChampionX. See Note 3—Merger Transaction, Acquisitions, And Dispositions for additional information on the Merger.

Significant Accounting Policies

Use of estimates—The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Such estimates include, but are not limited to, net realizable value of inventories, allowance for doubtful accounts, pension and post-retirement plans, future cash flows associated with impairment testing of goodwill, indefinite-lived intangible assets and other long-lived assets, estimates related to income taxes, and estimates related to contingencies.

Cash and cash equivalents—Cash equivalents are highly liquid, short-term investments with original maturities of three months or less from their date of purchase.

Receivables, net of allowances—Accounts receivable are carried at the invoiced amounts, less an allowance for doubtful accounts, and generally do not bear interest. The Company estimates the allowance for doubtful accounts for expected credit losses by analyzing accounts receivable balances by applying historical write-off and collection trend rates, as well as current economic and market conditions. Specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. Account balances are written off against the allowance when it is determined the receivable will not be recovered.

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 (1)	2,042
Provision for expected credit losses	6,107
Accounts written off	(3,230)
Recoveries	(2,463)
Foreign currency translation	(336)
December 31, 2020	$	10,192

_______________________

(1) Represents the impact of adoption of ASU 2016-13. See Note 2—New Accounting Standards for additional information.

Inventories—Inventories are stated at the lower of cost or net realizable value. The majority of our inventory costs are determined on the first-in, first-out (FIFO) basis. As of December 31, 2020 and 2019, approximately 35% and 23%, respectively, of our total net inventories were accounted for using the last-in, first-out (LIFO) basis, or market. Under the LIFO method, the cost assigned to items sold is based on the cost of the most recent items purchased. As a result, the costs of the first items purchased remain in inventory and are used to value ending inventory.

Inventories consisted of the following:


(in thousands)	December 31, 2020		December 31, 2019
Raw materials	$	137,038	$	50,099
Work in progress	9,509		13,325
Finished goods	323,144		175,774
	469,691		239,198
Inventory reserve	(24,769)		(12,067)
LIFO adjustments (1)	(14,810)		(15,789)
Inventories, net	$	430,112	$	211,342

_______________________

(1) Represents the amount by which LIFO inventories exceeded their carrying value.

Property, plant and equipment—Property, plant and equipment is recorded at cost or fair value in connection with those assets acquired in a business combination. Depreciation is provided on the straight-line basis over the estimated useful lives of our assets as follows: buildings and improvements 5 to 40 years; machinery and equipment 1 to 20 years; and software 3 to 7 years. Expenditures for maintenance and repairs are expensed as incurred. Gains and losses are realized upon the sale or disposition of assets and are recorded in other expense, net on our consolidated statements of income (loss).

Property, plant and equipment are reviewed for impairment whenever events or changes in circumstances indicate the carrying value of the long-lived asset may not be recoverable. The carrying value of a long-lived asset is not recoverable if it exceeds the sum of undiscounted cash flows expected to result from the use and eventual disposition of the asset. If it is determined that an impairment loss has occurred, the impairment loss is measured as the amount by which the carrying value of the long-lived asset exceeds its fair value.

Goodwill and other intangible assets—We review goodwill for impairment annually or more frequently if events or changes in circumstances indicate that the carrying amount of such goodwill allocated to reporting units may exceed their fair value. We have established October 1 as the date of our annual test for impairment of goodwill for our legacy Apergy reporting units and May 31 for the acquired Chemical Technologies reporting units. We initially assess goodwill for impairment based on qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of one or more of our reporting units is less than its carrying amount. If the carrying amount exceeds the fair value, an impairment charge will be recognized in an amount equal to the excess; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit.

Our finite-lived acquired intangible assets are amortized on a straight-line basis over their estimated useful lives, which generally range from 3 to 15 years. Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of the intangible asset may not be recoverable. The carrying amount of an intangible asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If it is determined that an impairment loss has occurred, the loss is measured as the amount by which the carrying amount of the intangible asset exceeds its fair value. We have one intangible asset with an indefinite life which is tested annually for impairment.

See Note 7—Goodwill And Intangible Assets for additional information related to our impairment analysis.

Revenue Recognition—Revenue is recognized to depict the transfer of control of the related goods and services to the customer. The majority of our revenue is generated through the manufacture and sale of a broad range of specialized products and components, with revenue recognized upon transfer of control, which typically occurs as title and risk of loss transfers. We account for shipping and handling activities performed after control of a good has been transferred to the customer as a contract fulfillment cost rather than a separate performance obligation. Revenue arrangements with customers in many instances require delivery, installation, testing, or other acceptance provisions to be satisfied before revenue is recognized. Service revenue is recognized as the services are performed. Software product revenue is recorded when the software product is shipped to the customer or over the term of the contract on a subscription based model.

Estimates are used to determine the amount of variable consideration in contracts, as well as the determination of the standalone selling price among separate performance obligations. Some contracts with customers include variable consideration primarily related to volume rebates. We estimate variable consideration at the most likely amount to determine the total consideration which we expect to be entitled. Estimated amounts are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and the determination of whether to include estimated amounts in the transaction price are largely based on an assessment of our anticipated performance and all information that is reasonably available. We exclude all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected from a customer (e.g., sales, use, value added, and some excise taxes) from the determination of the transaction price.

Lessor accounting—Our lease arrangements generally allow customers to rent equipment on a daily basis with no stated end date. Customers may return the equipment at any point subsequent to the lease commencement date without penalty. We account for these arrangements as a daily renewal option beginning on the lease commencement date, with the lease term determined as the period in which it is reasonably certain the option will be exercised. Based on our assessment of the lease classification criteria, our lease arrangements have been classified as operating leases. Our lease arrangements generally include lease and non-lease components for which revenue is recognized based on each component’s standalone price. Lease revenue is recognized on a straight-line basis over the term of the lease and is included in lease and other revenue in the consolidated statements of income (loss). Non-lease revenue related to our lease arrangements is recognized in accordance with our revenue

recognition accounting policy. Assets in our lease program are reported in property, plant, and equipment, net on our consolidated balance sheets and are depreciated over their estimated useful lives. Certain contracts allow for leased equipment damaged in operation to be charged to the customer. Charges for damaged leased equipment is recorded as product revenue and the remaining net book value of the leased asset is expensed as costs of goods and services in the consolidated statements of income (loss).

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

Stock-based compensation—The cost of stock-based awards is measured at the grant date and are based on the fair value of the award. The value of the portion of the award that is expected to ultimately vest is recognized as expense on a straight-line basis, generally over the explicit service period and is included in selling, general and administrative expense in our consolidated statements of income. Forfeitures are accounted for as they occur. Expense for awards granted to retirement-eligible employees is recorded over the period from the date of grant through the date the employee first becomes eligible to retire and is no longer required to provide service.

Research and development costs—Research and development costs are expensed as incurred and amounted to $31.2 million, $12.9 million, and $16.0 million for the years ended December 31, 2020, 2019, and 2018, respectively.

Income Taxes—Prior to the Separation, our operations were historically included in Dover’s consolidated federal tax return and certain combined state returns. The income tax expense in our combined financial statements for these pre-Separation periods was determined on a stand-alone return basis which requires the recognition of income taxes using the liability method. Under this method, we assume to have historically filed a return separate from Dover, reporting our taxable income or loss and paying applicable tax based on our separate taxable income and associated tax attributes in each tax jurisdiction. Income taxes payable prior to Separation were computed under the stand-alone return basis. Accordingly, changes in income taxes payable for periods prior to the Separation are presented as a component of financing activities in the statement of cash flows. The calculation of income taxes on the separate return basis requires considerable judgment and the use of both estimates and allocations. As a result, our effective tax rate and deferred tax balances will significantly differ from those in the periods prior to the Separation.

The Global Intangible Low-Taxed Income (“GILTI”) provisions of the Tax Reform Act, enacted in December 2017, require us to include in our U.S. income tax return foreign subsidiary earnings in excess of an allowable return on the foreign subsidiary’s tangible assets. We have elected to account for GILTI tax in the period in which it is incurred.

Deferred tax assets and liabilities are measured using the tax rates that are expected to apply to taxable income for the years in which those tax assets and liabilities are expected to be realized or settled. We record valuation allowances related to our deferred tax assets when we determine it is more likely than not the benefits will not be realized. Interest and penalties related to unrecognized tax benefits are recorded as a component of our provision for income taxes. We have approximately $15.7 million of foreign withholding taxes on our undistributed foreign earnings from jurisdictions which impose such taxes to the extent these amounts were repatriated to the U.S. by way of intercompany loan.

Earnings per share (“EPS”)—Basic EPS is computed using the weighted-average number of common shares outstanding during the year. We use the treasury stock method to compute diluted EPS which gives effect to the potential dilution of earnings that could have occurred if additional shares were issued for awards granted under our incentive compensation and stock plan. The treasury stock method assumes proceeds that would be obtained upon exercise of awards granted under our incentive compensation and stock plan are used to purchase outstanding common stock at the average market price during the period.

Investments in Affiliated Companies—Investments in companies in which ChampionX does not have a controlling financial interest, but over which it has significant influence, are accounted for using the equity method. ChampionX’s share of the after-tax earnings of equity method investees is included in Interest and other income.

Fair value measurements—We record our financial assets and financial liabilities at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The fair value framework requires the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets or liabilities, with the exception of certain assets and liabilities measured using the net asset value practical expedient, which are not required to be leveled. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. The three levels are defined as follows:

•Level 1: Unadjusted quoted prices in active markets for identical assets and liabilities.

•Level 2: Observable inputs other than quoted prices included in Level 1. For example, quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets.

•Level 3: Unobservable inputs reflecting management’s own assumptions about the assumptions market participants would use in pricing the asset or liability.

Derivative financial instruments— The Company uses foreign currency forward contracts to manage risks associated with foreign currency exchange rates. The Company does not hold derivative financial instruments of a speculative nature or for trading purposes. See Note 17—Derivatives And Hedging Transactions for further information.

Foreign currency—Financial statements of operations for which the U.S. dollar is not the functional currency, and are located in non-highly inflationary countries, are translated into U.S. dollars prior to consolidation. Assets and liabilities are translated at the exchange rate in effect at the balance sheet date, while income statement accounts are translated at the weighted-average monthly exchange rates. For these operations, translation gains and losses are recorded as a component of accumulated other comprehensive income (loss) in stockholders’ equity until the foreign entity is sold or liquidated. Assets and liabilities of an entity that are denominated in currencies other than an entity’s functional currency are remeasured into the functional currency using end of period exchange rates or historical rates when applicable to certain balances. Gains and losses related to these re-measurements are recorded in our consolidated statements of income (loss) as a component of other expense, net.

Change in accounting estimate—During the second quarter of 2020, we entered into new commercial agreements, which changed the economics of the leased asset program of our Electrical Submersible Pump (“ESP”) subsidiary in our Production & Automation Technologies segment. As such, we re-evaluated the estimated useful life and salvage value of our assets based on the combination of new commercial contracts and historical operating trends related to the aging of our lease fleet, including functioning assets beyond original expected life. Based on our analysis, effective April 1, 2020, we changed our estimate of useful life and salvage values for certain equipment to better reflect the useful life and estimated values of these assets at the end of their useful life. The estimated useful life, previously estimated at 12 months, was increased to 18 months. The estimated salvage value of the equipment, previously estimated at 50% of the original purchase price, was decreased to 0%. The effect of the changes in estimate for the year ended December 31, 2020, was an increase in depreciation expense of $37.6 million, a decrease in net income of $26.4 million, and a decrease in basic and diluted earnings per share of $0.18 per share, respectively. See Note 10—Leases for additional information related to our leased assets.

New Accounting Standards	12 Months Ended
New Accounting Standards	Dec. 31, 2020
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards	NEW ACCOUNTING STANDARDS Accounting Standards Adopted Effective January 1, 2019, we adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2016-02, “Leases (Topic 842)” using the modified retrospective method of adoption. See Note 10—Leases for additional information related to our lease accounting. Effective January 1, 2020, we adopted 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 $0.4 million of income tax benefit.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Merger Transaction, Acquisitions, and Dispositions

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Merger Transaction, Acquisitions, and Dispositions

MERGER TRANSACTION, ACQUISITIONS, AND DISPOSITIONS

Merger Transaction

On June 3, 2020 we completed the acquisition of the legacy ChampionX business through the merger of one of our wholly owned subsidiaries with legacy ChampionX. Immediately prior to the Merger, Ecolab transferred their upstream energy business to legacy ChampionX. Pursuant to the Merger, shares of Ecolab common stock that were tendered through an exchange offer were converted into common shares of legacy ChampionX on a 1-for-24.6667 basis, with each share of legacy ChampionX automatically converting into one share of the Company. To complete the acquisition, we issued 122.2 million shares of common stock, at a share price of $10.34 per share, in exchange for 100% equity ownership of legacy ChampionX. The transaction resulted in legacy ChampionX equityholders owning approximately 62% of the Company on a fully diluted basis, with equityholders of the Company prior to the Merger owning approximately 38% on a fully diluted basis.

Acquisition-related costs associated with the Merger were expensed as incurred and total $61.8 million and $9.3 million for the years ended December 31, 2020, and 2019, respectively, and are included in selling, general and administrative expense in our consolidated statements of income (loss). The acquisition-related transaction costs consisted primarily of investment banker fees and legal and accounting costs.

The Merger constitutes a business combination, with the Company (formerly known as Apergy) treated as the accounting acquirer and legacy ChampionX treated as the acquired company for accounting purposes. Legacy ChampionX provides on-site, technology-driven chemistry programs and value-enabling solutions and services to the global upstream oil and natural gas industry.

Preliminary Purchase Price Allocation

The acquisition-date fair value of the consideration transferred consisted of the following:


(in thousands)
Equity consideration	$	1,263,931
Replacement awards attributable to pre-combination services(1)	43,964

Unfavorable supply agreement(2)	46,000
Favorable supply agreement(2)	(59,000)
Fair value of consideration transferred	$	1,294,895

_______________________

(1) Represents the fair value of the replacement equity awards to the extent services were provided by employees of legacy ChampionX prior to closing. See Note 13—Equity And Cash Incentive Programs for additional information about the replacement equity awards.

(2) As part of the Merger, the Company entered into a Cross Supply and Product Transfer Agreement with Ecolab in which over a period of approximately three years from the merger date, certain products will be manufactured by one party for the other. The cross selling prices at which each party will transfer their products, and include a take-or-pay element, have been set forth within this agreement and are not reflective of market terms. As a result, we recognized an intangible asset recorded at fair value for the favorable terms and a liability recorded at fair value for the unfavorable terms. The intangible asset will be amortized on a straight-line basis over a three-year period into cost of goods and services and the liability will be amortized as a component of product revenue.

The purchase price was allocated to the tangible and intangible assets acquired and liabilities assumed based on their preliminary fair value estimates as of the acquisition date. The measurements of assets acquired and liabilities assumed, other than debt which was measured using Level 2 measurements, are based on inputs that are not observable in the market and thus represent Level 3 inputs. The excess of the purchase price over such fair values was recorded as goodwill. The purchase price allocation is based upon a preliminary valuation only and will be finalized upon completion of certain valuation procedures. The primary areas in which the preliminary purchase price allocation is not yet finalized relate to filing of income tax returns that provide taxes payable and receivable from tax authorities as well as under the Tax Matters Agreement with Ecolab, deferred income taxes and residual goodwill. We will complete the purchase price allocation and valuation during the 12-month period following the Merger date.

The following table provides the preliminary allocation of the purchase price as of the acquisition date.


(in thousands)
Cash and cash equivalents	$	57,588
Receivables	394,432
Inventories	340,000
Prepaid expenses and other current assets	63,576
Property, plant, and equipment	687,085
Identifiable intangible assets(1)	290,000
Other non-current assets	156,427
Total identifiable assets acquired	1,989,108
Accounts payable	184,028
Other current liabilities(1)	172,997
Long-term debt (2)	537,000
Deferred tax liabilities	103,956
Other liabilities(1)	98,970
Total liabilities assumed	1,096,951
Net identifiable assets acquired	892,157
Add: Negative fair value of non-controlling interests	16,052
Goodwill	386,686
Total net assets acquired	$	1,294,895

_______________________

(1) The fair value of the consideration transferred related to the favorable and unfavorable terms of the cross supply agreement has been excluded.

(2) In connection with the Merger, we assumed a term loan from legacy ChampionX, of which approximately $26.9 million has been classified as short-term representing the mandatory amortization payments due within the next twelve months. See Note 8—Debt for further information.

Summary of Significant Fair Value Methods

Inventories

Acquired inventory is comprised of raw materials and finished goods. The preliminary fair value of finished goods was calculated as the estimated selling price, adjusted for costs of the selling effort and a reasonable profit allowance relating to the selling effort. The preliminary fair value of raw materials and supplies was determined based on replacement cost which approximates historical carrying value. The preliminary fair value step-up of $14.5 million of inventories measured on a FIFO basis was amortized to cost of goods and services in the consolidated financial statements during the year ended December 31, 2020 as the inventory was sold. For inventories measured on a LIFO basis, the acquired inventory becomes the LIFO base layer inventory.

Property, Plant, and Equipment

The preliminary fair value of identifiable fixed assets was calculated using a combination of valuation approaches, primarily the cost approach which adjusts estimates of replacement cost for the age, condition and utility of the associated assets, as well as the market approach to value asset types where market comparable data is available, and is summarized below:


(in thousands)	Fair Value		Useful Life (years)
Land and land improvements	$	125,375	-
Buildings and leasehold improvements	208,649		5 to 40
Machinery, equipment, and other	333,478		3 to 20
Capitalized software and computer hardware	19,583		3 to 7
Total property, plant, and equipment acquired	$	687,085

Identifiable Intangible Assets

The preliminary fair values of trademarks, trade names, and developed technology were determined using a relief from royalty methodology which estimates cost savings generated by a company related to the ownership of an asset for which otherwise have had to pay royalties or license fees on revenues earned through the use of the asset. Customer relationships were determined using the multi-period excess earnings method which involves isolating the net earnings attributable to the asset being measured based on the present value of the incremental after-tax cash flows attributable solely to the intangible assets over its remaining useful life. Preliminary fair values are summarized below:


(in thousands)	Fair Value		Useful Life (years)
Trademarks and trade names	$	25,000	15
Developed technology	120,000		7
Customer relationships	145,000		15
Total identifiable intangible assets acquired	290,000
Favorable supply agreements	59,000		3
Total identifiable intangible assets recognized	$	349,000

The weighted average amortization period for identifiable intangible assets recognized is 10.2 years.

Leases

Lease-related assets and liabilities acquired were remeasured at the present value of the future minimum lease payments over the remaining lease term utilizing an updated incremental borrowing rate of the Company as if the acquired leases were new leases as of the acquisition date. Right-of-use assets were further adjusted for any off-market terms of the lease. The remaining lease term is based on the remaining term at the acquisition date plus any renewal or extension options that the Company is reasonably certain will be exercised. Additionally, the Company has elected short-term lease treatment for those acquired lease contracts which, at the acquisition date, have a remaining lease term of 12 months or less. For the leases acquired through the Merger, the Company will retain the previous lease classification. This resulted in legacy ChampionX assets and liabilities of $101.0 million and $93.2 million, respectively, as of the acquisition date.

Goodwill

Goodwill of $386.7 million arising from the acquisition consisted largely of the expected synergies and economies of scale from combining the operations of the Company and legacy ChampionX. Goodwill recognized as a result of the acquisition is not deductible for tax purposes. We have allocated goodwill of $349.8 million and $36.9 million to our Production Chemical Technologies and Reservoir Chemical Technologies operating segments, respectively. See Note 7—Goodwill And Intangible Assets for a rollforward of our goodwill balance by operating segment.

Pro forma financial information

The results of operations for legacy ChampionX that have been included in our consolidated financial statements from the June 3, 2020 acquisition date through December 31, 2020 include revenue of $1.2 billion and net income of $57.0 million. The following unaudited pro forma results of operations have been prepared as though the Merger was completed on January 1, 2019. Pro forma amounts are based on the preliminary purchase price allocation of the acquisition and are not necessarily indicative of results that may be reported in the future. Non-recurring pro forma adjustments including acquisition-related costs directly attributable to the Merger are included within the reported pro forma revenue and net income (loss).


	Years Ended December 31,
(in thousands, except per share data)	2020		2019
Revenues	$	2,775,027	$	3,456,354
Net income (loss) attributable to ChampionX	(777,553)		229,126

Transactions with Ecolab

Certain agreements have been entered into between the Company and Ecolab, including, among others, a Tax Matters Agreement, an Intellectual Property Matters Agreement, a Cross Supply and Product Transfer Agreement, and a Transition Services Agreement, each entered into on the closing date; as well as the Employee Matters Agreement entered into on

December 18, 2019. Pursuant to the Transition Services Agreement, Ecolab and its subsidiaries as well as legacy ChampionX and its subsidiaries will provide each other with specified support services and other assistance for a limited time following the closing of the Merger. Charges for services under the agreement are representative of our best estimate of market price and will be determined on an allocated cost basis, subject to an overall annual aggregate cap. Revenue recognized under the Cross Supply and Product Transfer Agreement for the year ended December 31, 2020 was $113.6 million.

Other Acquisitions

On July 31, 2019, ChampionX entered into an asset purchase agreement to acquire certain assets, which meet the definition of a business, used in the manufacturing of downhole monitoring systems. The acquisition is included among the consolidated subsidiaries reported in our Production & Automation Technologies segment and provides digital technology strategic to our artificial lift product offering.

The acquisition-date fair value of the consideration transferred consisted of the following:


(in thousands)
Cash			12,500
Contingent consideration (1)			1,500
Total consideration transferred			14,000

_______________________

(1) Contingent consideration is payable to the seller based on the acquired business exceeding a revenue target over an eighteen month period ending January 2021. Achievement of the revenue target was finalized and consideration was paid in February 2021.

The following table summarizes the final fair values of the assets acquired at the acquisition date:


(in thousands)
Inventory	$	1,840
Customer relationships	2,650
Technology - Technical know-how	4,000
Goodwill	5,510
Total assets acquired	$	14,000

The amortization period is 15 years for acquired customer relationships and technology. The goodwill recognized as a result of the acquisition is tax deductible and primarily reflects the expected benefits to be derived from operational synergies.

Results of operations of the acquired business has been included in our consolidated financial statements from the acquisition dates. Pro forma results of operations have not been presented as the effects of the acquisition are not material to our consolidated financial statements.

Dispositions

During March 2019, we classified our pressure vessel manufacturing business in our Production & Automated Technologies segment as held for sale. We recognized an impairment loss of $1.7 million, which was recorded in selling, general and administrative expense in the consolidated statements of income (loss), to adjust the carrying amount of the disposal group to fair value. See Note 7—Goodwill And Intangible Assets for additional information. In June 2019, we completed the sale of our pressure vessel manufacturing business and made a cash payment of $2.2 million, resulting in a loss on disposition of $2.5 million, which was recorded in other expense, net in the consolidated statements of income (loss) for the year ended December 31, 2019.

Segment Information

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

Upon completion of the Merger, the Company re-evaluated its reportable segments. Our determination of reportable segments was made on the basis of our strategic priorities within each segment and corresponds to the manner in which our chief operating decision maker reviews and evaluates operating performance to make decisions about resources to be allocated to the segment. In addition to our strategic priorities, segment reporting is also based on differences in the products and services we provide. As a result, we added two new reportable segments - Production Chemical Technologies and Reservoir Chemical Technologies. The legacy Apergy reportable segments remain unchanged.

Our reportable segments are:

•Production Chemical Technologies—provides oil and natural gas production and midstream markets with solutions to manage and control corrosion, oil and water separation, flow assurance, sour gas treatment and a host of water-related issues.

•Production & Automation Technologies—designs, manufactures, markets and services a full range of artificial lift equipment, end-to-end digital automation solutions, as well as other production equipment. Production & Automation Technologies’ products are sold under a collection of brands including Harbison-Fischer, Norris, Alberta Oil Tool, Oil Lift Technology, PCS Ferguson, Pro-Rod, Upco, Unbridled ESP, Norriseal-Wellmark, Quartzdyne, Spirit, Theta, Timberline and Windrock.

•Drilling Technologies—designs, manufactures and markets polycrystalline diamond cutters and bearings for use in oil and gas drill bits under the US Synthetic brand.

•Reservoir Chemical Technologies—manufactures specialty products that support well stimulation, construction (including drilling and cementing) and remediation needs in the oil and natural gas industry.

Business activities that do not meet the criteria of an operating segment have been combined into Corporate and other. Corporate and other includes (i) corporate and overhead expenses, and (ii) revenue and costs for activities that are not operating segments.

Segment revenue and segment operating profit


	Years Ended December 31,
(in thousands)	2020		2019		2018
Segment revenue:
Production Chemical Technologies	$	992,805	$	—	$	—
Production & Automation Technologies	615,918		884,364		932,591
Drilling Technologies	116,186		246,887		285,565
Reservoir Chemical Technologies	61,507		—		—
Corporate and other (1)	113,580		—		—
Total revenue	$	1,899,996	$	1,131,251	$	1,218,156

Income (loss) before income taxes:
Segment operating profit:
Production Chemical Technologies	$	94,294	$	—	$	—
Production & Automation Technologies	(697,937)		54,024		74,187
Drilling Technologies	2,574		73,497		98,620
Reservoir Chemical Technologies	(6,198)		—		—
Total segment operating profit (loss)	(607,267)		127,521		172,807
Corporate and other (1)	103,751		29,034		23,806
Interest expense, net	51,731		39,301		27,648
Income (loss) before income taxes	$	(762,749)	$	59,186	$	121,353

____________________

(1) Corporate and other includes costs not directly attributable or allocated to our reportable segments such as corporate executive management and other administrative functions, and the results attributable to our noncontrolling interest. Additionally, the sales and expenses related to the Cross Supply Agreement with Ecolab are included within Corporate and other. See Note 3—Merger Transaction, Acquisitions, And Dispositions for further information.

Geographic information


	December 31,
(in thousands)	2020		2019
Property, plant, and equipment, net:
United States	$	547,662	$	238,464
Singapore	111,184		—
Canada	85,487		5,749
Other Countries	110,203		3,968
Total property, plant, and equipment, net	$	854,536	$	248,181

See Note 5—Revenue for information related to revenue by geography and end markets.

Other business segment information


	Capital Expenditures Years Ended December 31,
(in thousands)	2020		2019		2018
Chemical Technologies (1)	$	10,498	$	—	$	—
Production & Automation Technologies	32,100		30,291		45,190
Drilling Technologies	1,736		9,061		11,123
Corporate and other	829		428		1,605
Total	$	45,163	$	39,780	$	57,918

(1) Our Chemical Technologies business has an integrated supply chain function that serves the Production Chemical Technologies and Reservoir Chemical Technologies reportable segments. As such, capital expenditure information by each reportable segment has not been provided and is not available, since the Company does not produce or utilize such information.


	Depreciation & Amortization Years Ended December 31,
(in thousands)	2020		2019		2018
Production Chemical Technologies	$	58,328	$	—	$	—
Production & Automation Technologies	130,725		110,131		112,955
Drilling Technologies	7,940		9,263		11,037
Reservoir Chemical Technologies	5,741		—		—
Corporate and other	11,628		544		469
Total	$	214,362	$	119,938	$	124,461

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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+ Details

Revenue

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue

REVENUE

Our revenue is generated primarily from product sales. Service revenue is generated from providing services to our customers. These services include installation, repair and maintenance, laboratory and logistics services, chemical management services, troubleshooting, reporting, water treatment services, technical advisory assistance and other field services. Lease revenue is derived from rental income of leased production equipment. These lease arrangements generally allow customers to rent equipment on a daily basis with no stated end date. Management accounts for these arrangements as a daily renewal option beginning on the lease commencement date, with the lease term determined as the period in which it is reasonably certain the option will be exercised. As our costs are shared across the various revenue categories, cost of goods sold is not tracked separately and is not discretely identifiable.

In certain geographical areas, the Company utilizes joint ventures and independent third-party distributors and sales agents to sell and market products and services. Amounts payable to independent third-party distributors and sales agents may fluctuate based on sales and timing of distributor fee payments. For services rendered by such independent third-party distributors and sales agents, the Company records the consideration received on a net basis within product revenue in our consolidated statements of income (loss). As of December 31, 2020, accrued distributor fees were $37.5 million and nil at December 31, 2019.

Revenue disaggregated by geography was as follows:


	Year Ended December 31, 2020
(in thousands)	Production Chemical Technologies		Production & Automation Technologies		Drilling Technologies		Reservoir Chemical Technologies		Corporate and other (1)		Total
United States	$	318,460	$	458,690	$	82,812	$	31,907	$	72,948	$	964,817
Middle East & Africa	164,480		45,026		1,146		14,292		15,254		240,198
Latin America	202,177		21,679		22		4,283		3,650		231,811
Canada	129,210		32,709		9,029		1,414		640		173,002
Europe	116,192		10,521		11,840		1,990		12,052		152,595
Australia	13,225		41,233		110		274		—		54,842
Asia-Pacific	28,023		5,549		9,141		2,267		9,041		54,021
Other	21,038		511		2,086		5,080		(5)		28,710
Total revenue	$	992,805	$	615,918	$	116,186	$	61,507	$	113,580	$	1,899,996

_______________________

(1) Revenues associated with sales under the Cross Supply Agreement with Ecolab are included within Corporate and other. See Note 3—Merger Transaction, Acquisitions, And Dispositions for further information.


	Year Ended December 31, 2019
(in thousands)	Production Chemical Technologies		Production & Automation Technologies		Drilling Technologies		Reservoir Chemical Technologies		Corporate and other		Total
United States	$	—	$	679,280	$	181,721	$	—	$	—	$	861,001
Canada	—		52,647		17,667		—		—		70,314
Middle East	—		59,051		1,013		—		—		60,064
Europe	—		19,752		32,213		—		—		51,965
Latin America	—		32,389		19		—		—		32,408
Australia	—		30,702		139		—		—		30,841
Asia-Pacific	—		9,727		12,975		—		—		22,702
Other	—		816		1,140		—		—		1,956
Total revenue	$	—	$	884,364	$	246,887	$	—	$	—	$	1,131,251


	Year Ended December 31, 2018
(in thousands)	Production Chemical Technologies		Production & Automation Technologies		Drilling Technologies		Reservoir Chemical Technologies		Corporate and other		Total
United States	$	—	$	731,416	$	227,751	$	—	$	—	$	959,167
Canada	—		60,256		19,560		—		—		79,816
Middle East	—		53,315		201		—		—		53,516
Europe	—		12,686		25,983		—		—		38,669
Latin America	—		33,967		9		—		—		33,976
Australia	—		33,138		109		—		—		33,247
Asia-Pacific	—		7,176		10,430		—		—		17,606
Other	—		637		1,522		—		—		2,159
Total revenue	$	—	$	932,591	$	285,565	$	—	$	—	$	1,218,156

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.

Performance Obligations

The majority of our contracts have a single performance obligation which represents, in most cases, the equipment or product sold to the customer. Some contracts include multiple performance obligations, often satisfied at or near the same time, such as a product and the related installation, extended warranty and/or maintenance services. For contracts with multiple performance

obligations, we allocate the transaction price to each performance obligation based on the estimated relative standalone selling prices of the promised goods or services underlying each performance obligation. We typically use observable prices to determine the stand-alone selling price of a performance obligation and utilize a cost plus margin approach when observable prices are not available.

Within our Production & Automation Technologies and Drilling Technologies reportable segments, substantially all of our performance obligations are recognized at a point in time and are primarily related to our product revenue derived from the sale of drilling and production equipment. Revenue is recognized when control transfers to the customer upon shipment or completion of installation, testing, or certification as required under the contract. Within our Production Chemical Technologies and Reservoir Chemical Technologies segments, revenue recognized from the sale of products is recognized at the point in time when the obligations in the contract with the customer are satisfied, which generally occurs with the delivery of the product. Within our ESP leased asset program, equipment damaged in operation is generally charged to the customer and recognized as product revenue. Service and lease revenue are recognized over time when the services are provided to the customer or when the customer receives the benefit of the leased equipment.

Warranties

Within our Production & Automation Technologies and Drilling Technologies reportable segments, the majority of our contracts contain customary warranties in connection with the sale of a product to a customer which provide a customer assurance that the related product will function for a period of time as the parties intended. In addition to our customary warranties, we also offer extended warranties to our customers. Warranties that represent a distinct service are recognized as service revenue over the related warranty period.

Remaining performance obligations

As of December 31, 2020, we did not have any contracts with an original length of greater than a year from which revenue is expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied).

Contract Balances

The beginning and ending contract asset and contract liability balances from contracts with customers were as follows:


	December 31,
(in thousands)	2020		2019		2018

Contract assets	$	—	$	285	$	4,571
Contract liabilities	16,668		6,148		5,863

Contract assets primarily relate to work completed for performance obligations that are satisfied over time and are recorded in prepaid expenses and other current assets on our consolidated balance sheets. Contract assets are transferred to receivables when the right to consideration becomes unconditional. Contract liabilities relate to billings or consideration received in advance of performance (obligation to transfer goods or services to a customer) under the contract. Contract liabilities are recognized as revenue when the performance obligation has been performed, which primarily occurs during the subsequent quarter. Current contract liabilities are recorded in accrued expenses and other current liabilities on our consolidated balance sheets.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consisted of the following:


	December 31,
(in thousands)	2020		2019
Land and land improvements	$	140,209	$	14,419
Buildings and improvements	316,529		106,993
Software	37,638		15,323
Machinery, equipment and other	854,650		538,168
	1,349,026		674,903
Accumulated depreciation	(494,490)		(426,722)
Property, plant and equipment, net	$	854,536	$	248,181

Depreciation expense was $142.6 million, $68.6 million, and $72.6 million for the years ended December 31, 2020, 2019, and 2018, respectively.

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

GOODWILL AND INTANGIBLE ASSETS

During the first quarter of 2020, certain unprecedented events caused the rapid decline of several market indicators in the oil and gas industry. Decisions by the Organization of Petroleum Exporting Countries (“OPEC”) and other oil producing nations resulted in an oversupply of crude oil. Compounding this situation, demand for oil and gas commodities declined significantly as the world was impacted by the COVID-19 pandemic, which resulted in a sharp decline in crude oil prices. Consequently, our market capitalization was negatively impacted as a result of these market conditions and overall impact to our industry.

The Company 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.

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 were triggering events indicating that certain of our long-lived tangible and intangible assets may not be recoverable. 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 & 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 estimated the fair value of these intangible and fixed assets using an income approach that required us to make long-term forecasts of our future revenues and costs related to the assets subject to review. These forecasts utilized 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. We consider the inputs for our long-lived asset and goodwill impairment calculations to be Level 3 inputs in the fair value hierarchy. Significant assumptions used in determining the fair value of our intangible and fixed assets are operating margins, peer group EBITDA multiples and the discount rate. 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 recoverable 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 based on the estimated fair value of these asset groups, consisting of $40.4 million to customer relationships and $0.6 million to trademarks. We did not identify impairment triggering events at any of our asset groups during the remainder of 2020.

Intangible Assets

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


	December 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)	$	593,068	$	321,298	$	271,770	$	560,316	$	353,189	$	207,127
Trademarks (1)	59,881		27,565		32,316		35,695		24,830		10,865
Patents	38,635		29,289		9,346		38,436		26,838		11,598
Unpatented technologies	133,700		19,958		113,742		13,700		9,811		3,889
Favorable supply agreements (2)	59,000		11,308		47,692		—		—		—
Drawings and manuals	1,783		1,783		—		2,558		1,758		800
Other	5,374		4,831		543		5,332		4,504		828
	891,441		416,032		475,409		656,037		420,930		235,107
Indefinite-lived intangible assets:
Trademarks	3,600		—		3,600		3,600		—		3,600
Total	$	895,041	$	416,032	$	479,009	$	659,637	$	420,930	$	238,707

_______________________

(1) 2020 includes impairment of customer relationships and trademarks intangible assets of $40.4 million and $0.6 million, respectively, all of which relate to asset groups included within our Artificial Lift business.

(2) Favorable supply agreements were entered into as part of the Merger transaction. See Note 3—Merger Transaction, Acquisitions, And Dispositions for further information.

We recorded $349.0 million of acquired intangible assets, including $59.0 million for favorable supply agreements, in 2020. We recorded $6.7 million of acquired intangible assets in 2019. See Note 3—Merger Transaction, Acquisitions, And Dispositions, for additional information. Additional changes to the gross carrying amount of intangible assets during the year ended December 31, 2020 were the result of foreign currency translation adjustments.

Amortization expense related to our intangible assets was $70.9 million, $51.4 million, and $51.9 million for the years ended December 31, 2020, 2019, and 2018, respectively. Estimated future amortization expense related to intangible assets held as of December 31, 2020, is as follows:


(in thousands)	Estimated Amortization
2021	$	87,698
2022	86,181
2023	60,855
2024	47,506
2025	36,396

Goodwill

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


(in thousands)	Production Chemical Technologies		Production & Automation Technologies		Drilling Technologies		Reservoir Chemical Technologies		Total
December 31, 2018	$	—	$	803,849	$	101,136	$	—	$	904,985
Acquisition (1)	—		5,510		—		—		5,510
Foreign currency translation	—		618		—		—		618
December 31, 2019	—		809,977		101,136		—		911,113
Acquisition (1)	349,821		—		—		36,865		386,686
Impairment	—		(616,271)		—		—		(616,271)
Foreign currency translation	1,236		(2,169)		—		(1)		(934)
December 31, 2020	$	351,057	$	191,537	$	101,136	$	36,864	$	680,594

_______________________

(1) See Note 3—Merger Transaction, Acquisitions, And Dispositions for additional information related to the acquisitions completed during July 2019 and June 2020.

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

During the first quarter of 2020, 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, which require the use of significant unobservable inputs, representative of a Level 3 fair value measurement. 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 consisted 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 estimated a fair value based on comparable companies’ market multiples of revenues and earnings before interest, taxes, depreciation and amortization and factored in a control premium. Finally, we compared our estimates of fair values to our total public market capitalization as of March 31, 2020 and assessed an implied control premium based on the 20-day average trading price of our common stock.

The reporting unit carrying values were adjusted based on the long-lived asset impairment assessment noted above. Financial and credit market volatility directly impacted 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. The goodwill impairment charge includes $560.1 million of non-taxable goodwill, which was recognized as a discrete item in determining our effective tax rate for the period.

As part of our annual goodwill impairment analysis, on October 1, we performed a qualitative goodwill impairment analysis for each of our legacy Apergy reporting units. We concluded that goodwill related to those reporting units was not impaired and further quantitative testing was not required. As a result of the Merger, we added two reporting units (i) Production Chemical Technologies and (ii) Reservoir Chemical Technologies for which the goodwill annual testing date is May 31. In addition, there

were no negative conditions, or triggering events, that occurred subsequent to our annual goodwill impairment analysis requiring us to perform additional impairment reviews.

Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Debt

DEBT

Long-term debt consisted of the following:


	December 31,
(in thousands)	2020		2019
2018 Credit Facility	$	—	$	—
2018 Term Loan Facility	140,000		265,000
2020 Term Loan Facility	523,575		—
6.375% Senior Notes due 2026	277,041		300,000
Total	940,616		565,000
Net unamortized discounts and issuance costs	(8,002)		(9,709)
Total long-term debt	932,614		555,291
Current portion of long-term debt (1)	(26,850)		—
Long-term debt, less current portion	$	905,764	$	555,291

_______________________

(1) Includes the mandatory amortization payments due within twelve months related to the 2020 Term Loan Facility.

2018 Credit Facility

On May 9, 2018, we entered into a credit agreement (“credit agreement”) governing the terms of our senior secured credit facilities, consisting of (i) a 7-year senior secured term loan B facility (“term loan facility”) and (ii) a 5-year senior secured revolving credit facility (“revolving credit facility,” and together with the term loan facility, the “senior secured credit facilities”), with JPMorgan Chase Bank, N.A. as administrative agent. The net proceeds of the senior secured credit facilities were used (i) to pay fees and expenses in connection with the Separation, (ii) partially fund the cash payment to Dover and (iii) provide for working capital and other general corporate purposes. The senior secured credit facilities are jointly and severally guaranteed by ChampionX and certain of ChampionX’s wholly owned U.S. subsidiaries, including, upon the consummation of the Merger, certain legacy ChampionX wholly owned U.S. subsidiaries, (“guarantors”), on a senior secured basis, and are secured by substantially all tangible and intangible assets of ChampionX and the guarantors, except for certain excluded assets.

At our election, outstanding borrowings under the senior secured credit facilities will accrue interest at a per annum rate of (i) LIBOR plus a margin or (ii) a base rate plus a margin. Interest on borrowings in which interest is accrued at a base rate plus an applicable margin is payable on the last business day of each quarter. The senior secured credit facilities contain a number of customary covenants that, among other things, limit or restrict the ability of ChampionX and the restricted subsidiaries to, subject to certain qualifications and exceptions, perform certain activities which include, but are not limited to (i) incur additional indebtedness, (ii) make acquisitions and (iii) pay dividends or other payments in respect of our capital stock. Additionally, ChampionX is required to maintain (a) a minimum interest coverage ratio, as defined in the credit agreement, of 2.50 to 1.00 and (b) a maximum total leverage ratio, as defined in the credit agreement, of 4.00 to 1.00 through the fiscal quarter ending March 31, 2021, then 3.75 to 1.00 thereafter.

On February 14, 2020, the Company entered into an amendment to the credit agreement (as amended, the “2018 Credit Facility”), which (i) provided for the incurrence of an additional $150.0 million of revolving commitments under the 2018 Credit Facility, upon consummation of the Merger, (ii) permitted the consummation of the Merger and the incurrence of a senior secured term loan facility (“2020 Term Loan Facility”) in an aggregate amount up to $537.0 million by legacy ChampionX, and (iii) continued to provide that all obligations under the 2018 Credit Facility are guaranteed by the guarantors. The weighted average interest rate on borrowings during the period was 4.00%.

The revolving credit facility consists of a 5-year senior secured facility with aggregate commitments in an amount equal to $400.0 million, of which up to $100.0 million is available for the issuance of letters of credit. Amounts repaid under the revolving credit facility may be re-borrowed. The revolving credit facility matures in May 2023.

2018 Term Loan Facility

The term loan facility had an initial commitment of $415.0 million. The full amount of the term loan facility was funded on May 9, 2018. Amounts borrowed under the term loan facility that are repaid or prepaid may not be re-borrowed. The term loan facility matures in May 2025. Net proceeds of $408.7 million from the term loan facility were utilized to partially fund the cash payment to Dover at the Separation and to pay fees and expenses incurred in connection with the Separation.

The term loan is subject to mandatory amortization payments of 1% per annum of the initial commitment of $415.0 million paid quarterly. Additionally, subject to certain exceptions, the term loan facility is subject to mandatory prepayments, including the amount equal to: 100% of the net cash proceeds of all non-ordinary course asset sales subject to (i) reinvestment periods and (ii) step-downs to 75% and 50% based on certain leverage targets; and 50% of excess cash flow, as defined in the credit agreement, with step-downs to 25% and 0% based on certain leverage targets. ChampionX may voluntarily prepay amounts outstanding under the term loan facility in whole or in part at any time without premium or penalty, as defined in the credit agreement. The weighted average interest rate on borrowings during the period was 3.18%.

2020 Term Loan Facility

On June 3, 2020, legacy ChampionX entered into a term loan facility for $537.0 million (“2020 Term Loan Facility”). Proceeds from the 2020 Term Loan Facility were utilized to fund a cash payment of $527.4 million from legacy ChampionX to Ecolab upon the completion of the Merger. We assumed the 2020 Term Loan Facility upon completion of the Merger, which is fully and unconditionally guaranteed by the Company and the guarantors, which also guarantee the obligations under the 2018 Credit Facility. The 2020 Term Loan Facility matures at the earlier of (i) June 3, 2027 or (ii) January 30, 2026 in the event the Company’s senior unsecured notes due May 1, 2026 remain outstanding. Amounts outstanding under the 2020 Term Loan Facility bear interest, at the option of the Company, at a rate equal to (a) LIBOR plus 5.0% for eurocurrency rate loans (to the extent LIBOR is less than 1%, the LIBOR rate will be deemed to be 1%) or (b) the highest of (i) the Federal Funds Rate plus 1/2 of 1%, (ii) the “prime rate” quoted by Bank of America, N.A., (iii) LIBOR plus 1.00% and (iv) 1.00%, plus 4.0%. The 2020 Term Loan Facility contains customary representations and warranties, covenants, and events of default for loan facilities of this type. The weighted average interest rate on borrowings during the period was 6.02%.

The term loan is subject to mandatory amortization payments of $6.7 million paid quarterly, which began on September 30, 2020. Any voluntary prepayment of the 2020 Term Loan Facility which occurs prior to June 3, 2022, is subject to a make-whole prepayment premium on the aggregate prepaid principal amount of the 2020 Term Loan Facility.

Senior Notes

On May 3, 2018, and in connection with the Separation, we completed the offering of $300.0 million in aggregate principal amount of 6.375% senior notes due May 2026 (“Senior Notes”). Interest on the Senior Notes is payable semi-annually in arrears on May 1 and November 1 of each year and commenced on November 1, 2018. Net proceeds of $293.8 million from the offering were utilized to partially fund the $700.0 million cash payment to Dover at the Separation and to pay fees and expenses incurred in connection with the Separation.

Payment obligations of the Senior Notes are fully and unconditionally guaranteed by the guarantors on a joint and several basis. On June 18, 2020, the wholly owned subsidiaries of legacy ChampionX that guarantee the 2018 Credit Facility and the 2020 Term Loan Facility, delivered a Supplemental Indenture to join as guarantors of the Senior Notes.

The terms of the Senior Notes are governed by the indenture dated as of May 3, 2018, between the Company and Wells Fargo Bank, N.A., as trustee, and are guaranteed, on a senior unsecured basis, by the guarantors. At any time prior to May 1, 2021, we may redeem all or part of the Senior Notes at a redemption price equal to 100% of the principal amount of the Senior Notes redeemed plus a premium, as defined in the indenture, plus accrued and unpaid interest. Beginning on or after May 1, 2021, we may redeem the Senior Notes, in whole or in part, at certain tiered redemption prices as defined in the indenture, plus accrued and unpaid interest. The Senior Notes are our senior unsecured obligations. The Senior Notes rank equally in right of payment with our future and existing senior debt but are effectively subordinated to our future and existing debt to the extent of the assets securing such senior debt. The Senior Notes rank senior in right of payment to all of our future subordinated debt.

Tender Offer

During the fourth quarter of 2020, the Company initiated a tender offer to purchase certain of the Senior Notes (the “Tender Offer”). Approximately $23.0 million in aggregate principal amount of the Senior Notes was repurchased for $23.4 million in cash, including principal, and $0.2 million in accrued interest. In connection with these repurchases, we recognized a net loss of approximately $0.9 million for the year ended December 31, 2020 and is included in other expense, net in our consolidated statement of income (loss).

As of December 31, 2020, aggregate contractual future principal payments on long-term debt are as follows:


(in thousands)	Principal Payments(1)
2021	$	26,850
2022	—
2023	—
2024	—
2025	140,000
Thereafter	773,766
Total	$	940,616

_______________________

(1) Principal payments included relate to our 2020 Term Loan Facility and Senior Notes. See Note 10—Leases for future payments related to finance lease obligations.

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES The Company is subject to various claims and contingencies related to, among other things, workers’ compensation, general liability (including product liability), automobile claims, health care claims, environmental matters, and lawsuits. We record liabilities where a contingent loss is probable and can be reasonably estimated. If the reasonable estimate of a probable loss is a range, the Company records the most probable estimate of the loss or the minimum amount when no amount within the range is a better estimate than any other amount. In accordance with applicable GAAP, the Company discloses a contingent liability even if the liability is not probable or the amount is not estimable, or both, if there is a reasonable possibility that a material loss may have been incurred. Lease Commitments See Note 10—Leases for a schedule of future minimum payments on our operating and finance lease arrangements. 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 Company’s Separation from Dover in 2018, 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 ChampionX stock or assets or by any other action or failure to act undertaken by ChampionX 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 was paid in April 2020. In connection with the Merger, we entered into agreements with Ecolab that govern the treatment between Ecolab 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 Ecolab’s business with Ecolab. 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 Ecolab and its affiliates for (i) all taxes for which ChampionX is responsible as defined within the Tax Matters Agreement, (ii) all taxes resulting from a breach by ChampionX of any of its representations (but only to the extent relating to a breach occurring after the consummation of the Merger) or any of its covenants under the Tax Matters Agreement, (iii) all taxes resulting from an acquisition after the Merger of any of the stock or assets of ChampionX, other than as a result of the Merger or a repayment of the ChampionX Credit Facilities and (iv) reasonable costs and expenses (including reasonable attorneys’ fees and expenses) related to the foregoing. As of December 31, 2020 and December 31, 2019, we had $88.8 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. Supply Agreements Cross Supply and Product Transfer Agreement As discussed in Note 3—Merger Transaction, Acquisitions, And Dispositions, certain agreements were entered into between the Company and Ecolab, including, among others, a Cross Supply and Product Transfer Agreement. The Cross Supply and Product Transfer Agreement includes a take-or-pay element which requires the Company to purchase a minimum of 13.7 million kilograms of product over a ten-year period, approximately $23.3 million. The Company has the option to terminate early beginning in the fifth year upon a two-year’s notice, subject to a termination fee which declines over the contract term. Vendor Supply Agreement We also acquired a Vendor Supply Agreement from Ecolab as part of the Merger discussed in Note 3—Merger Transaction, Acquisitions, And Dispositions. Ecolab made payments in the aggregate of $25.0 million and the Company assumed the receivable for the repayment of this loan. The loan is required to be repaid with 4% interest on the unapplied discount, totaling $30.0 million to be paid back in discounts. The fair value of the expected future cash flows as of December 31, 2020 was $14.9 million. Litigation and Environmental Matters We are involved in various pending or potential lawsuits, claims and environmental actions that have arisen 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, as well as possible obligations to investigate and mitigate the effects on the environment of the disposal or release of certain chemical substances at various sites, such as Superfund sites and either operating or owned facilities. 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 can be reasonably estimated. If the reasonable estimate of a probable loss is a range, the Company records the most probable estimate of the loss or the minimum amount when no amount within the range is a better estimate than any other amount. We are unable to predict the ultimate outcome of these actions because of the inherent uncertainty of litigation and unfavorable rulings or developments could occur, and there can be no certainty that the Company may not ultimately incur changes in excess of recorded liabilities. However, we believe the most probable, ultimate resolution of these matters will not have a material adverse effect on our consolidated financial position, results of operations or cash flows. Environmental Matters The Company is currently participating in environmental assessments and remediation at approximately 11 locations, the majority of which are in the U.S., and environmental liabilities have been accrued reflecting our best estimate of future costs. Potential insurance reimbursements are not anticipated in the Company’s accruals for environmental liabilities. As of December 31, 2020 environmental liability accruals related to these locations were $9.2 million. 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. We have submitted our long-term remediation plan and it was approved by ODEQ. We are now in discussion with ODEQ to finalize a consent order. Because we have not yet finalized the consent order 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 December 31, 2020. Matters Related to Deepwater Horizon Incident Response On April 22, 2010, the deepwater drilling platform, the Deepwater Horizon, operated by a subsidiary of BP plc, sank in the Gulf of Mexico after an explosion and fire, resulting in a massive oil spill. Certain entities that are now subsidiaries of ChampionX as a result of the Merger (collectively the “COREXIT Defendants”) supplied COREXIT™ 9500, an oil dispersant product listed on the U.S. EPA National Contingency Plan Product Schedule, which was used in the response to the spill. In connection with the provision of COREXIT™, the COREXIT Defendants were named in several lawsuits. Cases arising out of the Deepwater Horizon accident were administratively transferred and consolidated for pre-trial purposes under In Re: Oil Spill by the Oil Rig “Deepwater Horizon” in the Gulf of Mexico, on April 20, 2010, Case No. 10-md-02179 in the United States District Court in the Eastern District of Louisiana (E.D. La.) (“MDL 2179”). Claims related to the response to the oil spill were consolidated in a master complaint captioned the “B3 Master Complaint.” In 2011, Transocean Deepwater Drilling, Inc. and its affiliates (the “Transocean Entities”) named the COREXIT Defendants and other unaffiliated companies as first party defendants (In re the Complaint and Petition of Triton Asset Leasing GmbH, et al, MDL No. 2179, Civil Action 10-2771). In April and May 2011, the Transocean Entities, Cameron International Corporation, Halliburton Energy Services, Inc., M-I L.L.C., Weatherford U.S., L.P. and Weatherford International, Inc. (collectively, the “Cross Claimants”) filed cross claims in MDL 2179 against the COREXIT Defendants and other unaffiliated cross defendants. In April and June 2011, in support of its defense of the claims against it, the COREXIT Defendants filed counterclaims against the Cross Claimants. On May 18, 2012, the COREXIT Defendants filed a motion for summary judgment as to the claims in the B3 Master Complaint. On November 28, 2012, the Court granted the COREXIT Defendants’ motion and dismissed with prejudice the claims in the B3 Master Complaint asserted against the COREXIT Defendants. There currently remain three cases pending against the COREXIT Defendants relating to the Deepwater Horizon oil spill, all of which are expected to ultimately be dismissed pursuant to the Court’s November 28, 2012 order granting the COREXIT Defendants’ motion for summary judgment. The Company believes the claims asserted against the COREXIT Defendants are without merit and intends to defend these lawsuits vigorously. The Company also believes that it has rights to contribution and/or indemnification (including legal expenses) from third parties. However, we cannot predict the outcome of these lawsuits, the involvement it might have in these matters in the future, or the potential for future litigation.

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

LEASES

Lessee Accounting

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

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


		December 31,
(in thousands)	Balance Sheet Classification	2020		2019
Right-of Use Assets:
Finance leases	Property, plant, and equipment, net	$	7,337	$	9,406
Operating leases	Operating lease right-of-use assets	122,481		24,289
Total lease right-of-use assets		129,818		33,695
Lease Liabilities:
Finance leases - current	Accrued expenses and other current liabilities	$	4,326	$	4,845
Finance leases	Other long-term liabilities	4,188		4,530
Operating leases - current	Current portion of operating lease liabilities	33,234		7,620
Operating leases	Operating lease liabilities	83,553		19,419
Total lease liabilities		$	125,301	$	36,414

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


	Year Ended December 31,
(in thousands)	2020		2019
Finance lease cost:
Amortization of right-of-use assets	$	5,266	$	5,200
Interest on lease liabilities	567		439
Operating lease cost	31,850		11,191
Short-term and variable lease cost	12,917		5,045
Sublease income	(3,584)		(463)
Total lease cost	$	47,016	$	21,412

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


	December 31,
	2020		2019
Weighted-average remaining lease term (years):
Operating lease	6.3		4.6
Finance lease	2.7		2.1
Weighted-average discount rate:
Operating lease	6.7	%	6.7	%
Finance lease	6.0	%	5.3	%

Maturity Analysis—Future minimum payments, as determined in accordance with ASC 842, on our operating and finance leases as of December 31, 2020 are as follows:


(in thousands)	Operating		Finance
2021	$	40,594	$	4,727
2022	34,933		2,354
2023	21,994		973
2024	16,510		676
2025	5,745		443
Thereafter	24,877		529
Total future minimum lease payments	144,653		9,702
Interest included within lease payments	(27,866)		(1,188)
Total lease liabilities	$	116,787	$	8,514

Lessor Accounting

Lease revenue is primarily generated from our electric submersible pump (“ESP”) leased asset program within our Production & Automation Technologies segment. An ESP rental unit has components consisting of surface, downhole and cable equipment. Our lease arrangements generally allow customers to rent equipment on a daily basis with no stated end date. Customers may return the equipment at any point subsequent to the lease commencement date without penalty. We account for these arrangements as a daily renewal option beginning on the lease commencement date, with the lease term determined as the period in which it is reasonably certain the option will be exercised. The average length of these arrangements generally range from six months to nine months. Lease revenue for our leased asset programs was $54.0 million and $44.7 million for the years ended December 31, 2020 and 2019, respectively.

Leased assets—Components of our leased asset program, all of which are included within Property, plant, and equipment, net on our consolidated balance sheet, are as follows:


(in thousands)	Useful life	December 31, 2020
Cable equipment	18 months	$	48,755
Downhole equipment	18 months	35,174
Surface equipment	5 years	69,172
Other lease equipment	3 - 5 years	21,773
		174,874
Accumulated depreciation		(110,299)
Leased assets, net		$	64,575

Depreciation expense on our leased assets was $67.6 million and $37.1 million for the year ended December 31, 2020 and 2019, respectively.

Restructuring

12 Months Ended

Dec. 31, 2020

Restructuring and Related Activities [Abstract]

Restructuring

RESTRUCTURING

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


	Years Ended December 31,
(in thousands)	2020		2019		2018
Segment restructuring charges (1):
Production Chemical Technologies	$	5,241	$	—	$	—
Production & Automation Technologies	11,814		4,467		5,632
Drilling Technologies	5,521		710		—
Reservoir Chemical Technologies	348		—		—
Corporate and other	367		—		—
Total	$	23,291	$	5,177	$	5,632

Statements of Income (Loss) classification:
Cost of goods and services	$	13,955	$	3,592	$	4,693
Selling, general and administrative expense	9,336		1,585		939
Total (1)	$	23,291	$	5,177	$	5,632

_______________________

(1) Total restructuring expenses include asset write-downs, which are not included in the restructuring accrual below.

Restructuring and other related charges during the years ended December 31, 2020, 2019, and 2018, included the following activities, which the Company expects will be completed by early 2021:

Production Chemical Technologies. Production Chemical Technologies incurred restructuring charges of $5.2 million during the year ended December 31, 2020, primarily due to costs associated with employee severance and related benefits as a result of workforce reductions to better align the cost base with the significantly lower demand environment.

Production & Automation Technologies. Production & Automation Technologies incurred restructuring charges of $11.8 million, $4.5 million, and $5.6 million during the years ended December 31, 2020, 2019, and 2018, respectively, related to various programs, primarily focused on facility closures and consolidations, exit of certain nonstrategic product lines, and workforce reductions.

Drilling Technologies. Drilling Technologies incurred restructuring charges of $5.5 million and $0.7 million during the years ended December 31, 2020 and 2019, respectively, primarily due to costs associated with employee severance and related benefits as a result of workforce reductions, as well as equipment disposal costs related to exiting certain non-strategic product lines.

Reservoir Chemical Technologies. Reservoir Chemical Technologies incurred restructuring charges of $0.3 million during the year ended December 31, 2020, primarily due to costs associated with employee severance and related benefits as a result of workforce reductions to better align the cost base with the significantly lower demand environment.

The following table details our restructuring accrual activities during the year ended December 31, 2020:


(in thousands)	Restructuring Accrual Balance
December 31, 2019	$	130
Restructuring charges	15,630
Payments	(19,004)
Liabilities assumed in the Merger	6,208
Other, including foreign currency translation	(13)
December 31, 2020	$	2,951

Our liability balance for restructuring and other related charges at December 31, 2020, reflects employee severance and related benefits initiated during the period as well as liabilities assumed in the Merger. Additional programs may be initiated during 2021 with related restructuring charges.

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Dec. 31, 2020
Retirement Benefits [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS The Company sponsors several pension and post-employment benefit plans in the U.S. and internationally, of which, approximately half of the plans are frozen to new participants. In conjunction with our acquisition of the legacy ChampionX business in June 2020, we acquired the assets and liabilities of several defined benefit pension plans. The unfunded liability of the acquired plans was $8.3 million as of December 31, 2020 and our net periodic benefit expense was $1.5 million for the year ended December 31, 2020. We recognized net actuarial losses in the amount of $5.5 million and $2.5 million and a gain of $0.9 million during the years ended December 31, 2020, 2019, and 2018, respectively. The actuarial gains and losses are reflected in our consolidated statements of comprehensive income (loss). The unfunded liability of the plans as of December 31, 2020 and 2019 was approximately $24.9 million and $15.1 million, respectively, and is included in other long-term liabilities within our consolidated balance sheets. The net periodic benefit expense was $3.2 million, $2.0 million, and $1.7 million for the years ended December 31, 2020, 2019, and 2018, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

+ Details

Equity and Cash Incentive Programs

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Equity and Cash Incentive Programs

EQUITY AND CASH INCENTIVE PROGRAMS

Prior to the Separation, Dover granted share-based awards to its officers and other key employees, including certain ChampionX individuals. The principal awards issued under Dover’s stock-based compensation plans included stock options, stock-settled stock appreciation rights, restricted stock units, and performance share awards. All awards granted under the program consisted of Dover common shares and are not necessarily indicative of the results that ChampionX (formerly Apergy) would have experienced as a stand-alone public company for the periods presented prior to the Separation. Effective with the Separation, outstanding Dover share-based awards were converted to ChampionX share-based awards, with the exception of outstanding Dover performance share awards that relate to performance periods ending after the Separation. Such performance share awards were cancelled effective with the Separation.

In connection with the Separation, our Board of Directors adopted the 2018 Equity and Cash Incentive Plan (“2018 Plan”). The 2018 Plan was also approved by Dover in its capacity as the sole stockholder of ChampionX at the time of adoption. The 2018 Plan was amended and restated in 2020 to increase the shares of common stock reserved for issuance under the 2018 Plan to 18.2 million (subject to customary adjustments arising from stock splits and other similar changes), along with other amendments.

The 2018 Plan authorizes the grant of stock options, stock-settled stock appreciation rights (“SARs”), restricted stock awards, restricted stock units, performance share awards, cash performance awards, directors’ shares and deferred stock units. The ChampionX Compensation Committee determines the exercise price for options and the base price of SARs, which may not be less than the fair value of ChampionX common stock on the date of grant. Generally, stock options or SARs vest after 3 years of service and expire at the end of 10 years. Performance share awards vest if ChampionX achieves certain pre-established performance targets based on specified performance criteria over a performance period of not less than 3 years.

In connection with the Merger, the Company entered into the Employee Matters Agreement dated December 18, 2019, which provided the terms in which certain Ecolab share-based awards held by legacy ChampionX employees were replaced with share-based awards of the Company on the merger date. The fair value of the replacement awards has been allocated between each employee’s pre-combination and post-combination services. Amounts allocated to pre-combination services have been included as consideration transferred as part of the Merger. See Note 3—Merger Transaction, Acquisitions, And Dispositions for a summary of consideration transferred. Compensation costs of $15.8 million allocated to post-combination services will be recorded as stock-based compensation expense over each employees’ remaining service period of approximately two years.

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


	Years Ended December 31,
	2020		2019		2018
Stock-based compensation expense	$	19,536	$	10,250	$	5,375
Tax benefit	(4,478)		(2,153)		(1,141)
Stock-based compensation expense, net of tax	$	15,058	$	8,097	$	4,234

SARs

We did not issue SARs during 2020, 2019 or 2018. A summary of activity relating to SARs outstanding for the year ended December 31, 2020, is as follows:


	SARs
	Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2020	422,361	$	29.75


Forfeited / expired	(7,030)	34.13
Exercised	—	—
Outstanding at December 31, 2020	415,331	$	29.67	5.1	$	—

Exercisable at December 31, 2020	415,331	$	29.67	5.1	$	—

There is no unrecognized compensation expense related to SARs, as all SARs are exercisable as of December 31, 2020.

Other information regarding the exercise of SARs is presented below:


(in thousands)	2020		2019		2018
SARs:
Fair value of SARs that became exercisable	$	878	$	662	$	310
Aggregate intrinsic value of SARs exercised	—		629		40

Performance Share Awards - ChampionX

Market Vesting Conditions

We granted 121,261, 46,459, and 86,817 performance share awards subject to market vesting conditions during 2020, 2019, and 2018, respectively, under the 2018 Plan. These awards vest if ChampionX achieves certain pre-established performance targets based on specified performance criteria over a performance period of not less than 3 years. The performance targets for these awards are classified as a market vesting condition, therefore the compensation cost was calculated using the grant date fair value, as estimated using a Monte Carlo simulation, and is not subject to change based on future events. The fair value used in determining stock-based compensation expense of the performance share awards issued in 2020, 2019, and 2018, is as follows:


Performance shares:	2020		2019		2018
Fair value per share at date of grant	$	14.55	$	57.43	$	56.32

Performance Vesting Conditions

We granted 46,460 performance share awards subject to performance vesting conditions during 2019 under the 2018 Plan. We did not grant any of this type of award in 2020 or 2018. These awards are considered performance condition awards as attainment is based on ChampionX’s performance relative to established internal metrics. The fair value of these awards was determined using ChampionX’s closing stock price on the date of grant.

The fair value and average attainment used in determining stock-based compensation expense of the performance shares issued in 2020 and 2019 are as follows:


Performance shares:	2020			2019
Fair value per share at date of grant	$	—		$	40.22
Average attainment rate reflected in expense	—		%	100		%

A summary of activity for ChampionX’s performance share awards under the 2018 Plan for the year ended December 31, 2020, is as follows:


	Shares	Weighted-Average Grant-Date Fair Value
Unvested at January 1, 2020	174,726	$	52.44
Granted	121,261	14.55
Forfeited	(5,011)	52.60
Vested	(12,213)	52.51
Unvested at December 31, 2020	278,763	$	35.95

Unrecognized compensation expense related to unvested performance share awards as of December 31, 2020, was $3.5 million, which will be recognized over a weighted average period of 1.5 years.

Restricted Stock Units

Restricted stock units may be granted at no cost to certain officers and key employees. Restricted stock units generally vest over a three- or four-year period.

A summary of activity for restricted stock units for the year ended December 31, 2020, is as follows:


	Shares	Weighted-Average Grant-Date Fair Value
Unvested at January 1, 2020	440,048	$	41.07
Granted	655,584	14.13
Replacement awards (1)	2,357,733	10.34
Forfeited	(29,272)	31.61
Vested	(754,314)	17.64
Unvested at December 31, 2020	2,669,779	$	14.04

_______________________

(1) In connection with the Merger, the Company entered into the Employee Matters Agreement dated December 18, 2019, which provided the terms in which certain Ecolab share-based awards held by legacy ChampionX employees were replaced with share-based awards of the Company on the merger date. The fair value of the replacement awards has been allocated between each employee’s pre-combination and post-combination services. Amounts allocated to pre-combination services have been included as consideration transferred as part of the Merger. See Note 3—Merger Transaction, Acquisitions, And Dispositions for a summary of consideration transferred.

Unrecognized compensation expense relating to unvested restricted stock as of December 31, 2020, was $18.9 million, which will be recognized over a weighted average period of 1.3 years.

Non-Qualified Stock Options

A summary of activity for non-qualified stock options for the year ended December 31, 2020 is as follows:


	Non-Qualified Stock Options
	Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2020	—	$	—
Granted	—	—
Replacement awards (1)	7,324,853	6.02
Forfeited / expired	(14,381)	7.20
Exercised	(135,432)	6.56
Outstanding at December 31, 2020	7,175,040	$	6.01	5.3	$	65,431

Exercisable at December 31, 2020	6,534,024	$	5.85	5.1	$	60,571

_______________________

The weighted-average grant-date fair value of stock options granted during 2020 was $6.02 per option. Unrecognized compensation expense relating to unvested stock options as of December 31, 2020, was $1.6 million, which will be recognized over a weighted average period of 0.9 years.

During the year ended December 31, 2020, the total intrinsic value of stock options exercised was approximately $1.0 million and cash received from stock options exercised was approximately $0.9 million. The cash tax benefit from stock options exercised during the year ended December 31, 2020 was approximately $0.2 million.

Stockholders' Equity

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Stockholders' Equity

STOCKHOLDERS' EQUITY

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


(in thousands)			Common Stock
December 31, 2018			77,353
Shares issued—share-based compensation			107
December 31, 2019			77,460
Issuance of common stock - Merger			122,237
Shares issued—share-based compensation			683
December 31, 2020			200,380

We have 250 million shares of preferred stock authorized, with a par value of $0.01 per share.

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


(in thousands)	Foreign Currency Translation		Defined Pension and Other Post-Retirement Benefits		Cash Flow Hedges		Accumulated Other Comprehensive Loss
December 31, 2018	$	(36,146)	$	(6,760)	$	—	$	(42,906)
Other comprehensive income (loss) before reclassifications, net of tax	936		(2,711)		—		(1,775)
Reclassification adjustment for net losses included in net income, net of tax	—		644		—		644
Other comprehensive income (loss), net of tax	936		(2,067)		—		(1,131)
December 31, 2019	(35,210)		(8,827)		—		(44,037)
Other comprehensive income (loss) before reclassifications, net of tax	20,245		(5,504)		(2,320)		12,421
Reclassification adjustment for net losses included in net income, net of tax	—		861		—		861
Other comprehensive income (loss), net of tax	20,245		(4,643)		(2,320)		13,282
December 31, 2020	$	(14,965)	$	(13,470)	$	(2,320)	$	(30,755)

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


	Years Ended December 31,						Affected line items on the consolidated statements of income
(in thousands)	2020		2019		2018
Amortization of actuarial loss and net transition obligation(1)	$	492	$	364	$	330	Other expense, net
Amortization of prior service cost (1)	—		2		1		Other expense, net
Settlement loss (1)	698		508		479		Other expense, net
	1,190		874		810		Income before income taxes
	(329)		(230)		(210)		Provision for (benefit from) income taxes
	$	861	$	644	$	600	Net income

_______________________

(1) These accumulated comprehensive loss components are included in the computation of net periodic benefit cost (See Note 12—Employee Benefit Plans for additional information).

Earnings Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

On May 9, 2018, 77.3 million shares of our common stock were distributed to Dover stockholders in conjunction with the Separation. See Note 1—Basis Of Presentation And Summary Of Significant Accounting Policies for additional information. For comparative purposes, and to provide a more meaningful calculation of weighted-average shares outstanding, we have assumed the shares issued in conjunction with the Separation to be outstanding as of the beginning of the year ended December 31, 2018.

On June 3, 2020, 122.2 million shares of our common stock were issued in conjunction with the acquisition of the legacy ChampionX business. See Note 3—Merger Transaction, Acquisitions, And Dispositions for additional information.

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


	Years Ended December 31,
(in thousands, except per share data)	2020		2019		2018
Net income (loss) attributable to ChampionX	$	(743,930)	$	52,164	$	92,737

Weighted-average number of shares outstanding	148,370		77,427		77,342
Dilutive effect of stock-based compensation	—		197		350
Total shares and dilutive securities	148,370		77,624		77,692

Basic earnings per share attributable to ChampionX	$	(5.01)	$	0.67	$	1.20
Diluted earnings per share attributable to ChampionX	$	(5.01)	$	0.67	$	1.19

For all periods presented, the computation of diluted earnings (losses) per share excludes awards with an anti-dilutive impact. For the year ended December 31, 2020, we excluded all outstanding equity awards from the calculation of weighted-average shares outstanding, because their inclusion would be anti-dilutive as we were in a loss position. For the years ended December 31, 2019, and December 31, 2018, the diluted shares include the dilutive impact of equity awards except for approximately 0.4 million shares and 0.2 million shares that were excluded because their inclusion would be anti-dilutive.

Fair Value Measurements

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

The carrying amount and the estimated fair value for assets and liabilities measured on a recurring basis are as follows:


	December 31, 2020
	Carrying Amount		Fair Value Measurements
(in thousands)			Level 1		Level 2		Level 3
Assets
Foreign currency forward contracts	$	4,576	$	—	$	4,576	$	—

Liabilities
Foreign currency forward contracts	$	6,561	$	—	$	6,561	$	—

The carrying value of foreign currency forward contracts is at fair value, which is determined based on foreign currency exchange rates as of the balance sheet date and is classified within Level 2. For purposes of fair value disclosure above, derivative values are presented gross. See Note 17—Derivatives And Hedging Transactions for further discussion of gross versus net presentation of the Company’s derivatives.

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.

The fair value of our Senior Notes is based on Level 1 quoted market prices. The fair value of our term loan facilities are based on Level 2 quoted market prices for the same or similar debt instruments. The carrying amount and the estimated fair value of long-term debt, including current maturities, held by the Company were:


	December 31, 2020				December 31, 2019
(in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
2018 Term Loan Facility	$	140,000	$	137,200	$	265,000	$	266,161
2020 Term Loan Facility	$	523,575	$	530,120	$	—	$	—
6.375% Senior Notes due 2026	$	277,041	$	277,054	$	300,000	$	316,710

Impairment of Goodwill and Long-lived Assets

During 2020, we recorded a $616.3 million impairment charge to goodwill in our Artificial Lift and Automation reporting units. Additionally, we recorded a long-lived asset impairment charge of $41.0 million in our Production & Automation Technologies asset group. 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 7—Goodwill And Intangible Assets for additional information.

Merger Transaction

On June 3, 2020 we completed the acquisition of the legacy ChampionX business through the merger of one of our wholly owned subsidiaries with legacy ChampionX. The measurements of assets acquired and liabilities assumed, other than debt which was measured using Level 2 measurements, are based on inputs that are not observable in the market and thus represent Level 3 inputs. See Note 3—Merger Transaction, Acquisitions, And Dispositions for additional information.

Credit Risk

By their nature, financial instruments involve risk, including credit risk, for non-performance by counterparties. Financial instruments that potentially subject us to credit risk primarily consist of trade receivables. See Note 1—Basis Of Presentation And Summary Of Significant Accounting Policies for additional information on the mitigation of credit risk.

- 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

Derivatives and Hedging Transactions

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Hedging Transactions

DERIVATIVES AND HEDGING TRANSACTIONS

The Company uses foreign currency forward contracts to manage risks associated with foreign currency exchange rates. The Company does not hold derivative financial instruments of a speculative nature or for trading purposes. Derivative contracts are recorded as assets and liabilities on the balance sheet at fair value. We evaluate hedge effectiveness at contract inception and thereafter on a quarterly basis. If a derivative is no longer expected to be effective, hedge accounting is discontinued. Changes in fair value are recognized immediately in earnings unless the derivative qualifies and is designated as a hedge. Changes in fair value attributable to changes in spot exchange rates for derivative contracts that have been designated as cash flow hedges are recognized in accumulated other comprehensive income (loss) (“AOCI”) and reclassified into earnings in the same period the hedged transaction affects earnings and are presented in the same income statement line as the earnings effect of the hedged item. Cash flows from derivatives are classified in the statement of cash flows in the same category as the cash flows from the items subject to designated hedge or undesignated (economic) hedge relationships.

The Company is exposed to credit risk in the event of nonperformance of counterparties for foreign currency forward exchange contracts. We monitor our exposure to credit risk by using major global banks and financial institutions as counterparties and monitoring their financial condition and credit profile. The Company does not anticipate nonperformance by any of these counterparties, and therefore, recording a valuation allowance against the Company’s derivative balance is not considered necessary.

Derivative Positions Summary

Certain of the Company’s derivative transactions are subject to master netting arrangements that allow the Company to settle with the same counterparties. These arrangements generally do not call for collateral and as of the applicable dates presented in the following table, no cash collateral had been received or pledged related to the underlying derivatives. We have elected to present our derivative balances on a gross basis on the consolidated balance sheet.

The following table summarizes the gross fair value of the Company’s outstanding derivatives and the lines in which they are presented on the consolidated balance sheet. We did not have outstanding derivatives at December 31, 2019.


	December 31, 2020
(in thousands)	Derivative Assets		Derivative Liabilities




Prepaid expenses and other current assets	$	4,576	$	—

Accrued expenses and other current liabilities	—		6,561

	$	4,576	$	6,561

The following table summarizes the notional values of the Company’s outstanding derivatives:


(in thousands)	December 31, 2020
Notional value of foreign currency forward contracts	$	483,377

Cash Flow Hedges

The Company utilizes foreign currency forward contracts to hedge the effect of foreign currency exchange rate fluctuations on forecasted foreign currency transactions, primarily related to inventory purchases. These forward contracts are designated as cash flow hedges. The changes in fair value of these contracts attributable to changes in spot exchange rates are recorded in AOCI until the hedged items affect earnings, at which time the gain or loss is reclassified into the same line item in the consolidated statements of income (loss) as the underlying exposure being hedged. The forward points are marked-to-market monthly and recognized in the same line item in the consolidated statements of income (loss) as the underlying exposure being hedged.

Derivatives Not Designated as Hedging Instruments

The Company also uses foreign currency forward contracts to offset its exposure to the change in value of certain foreign currency denominated assets and liabilities, primarily receivables and payables, which are remeasured at the end of each period. Although the contracts are effective economic hedges, they are not designated as accounting hedges. Therefore, changes in the

value of these derivatives are recognized immediately in earnings, thereby offsetting the current earnings effect of the related foreign currency denominated assets and liabilities.

Effect of Derivative Instruments on Income

The loss of all derivative instruments recognized is summarized below:


(in thousands)	Year Ended December 31, 2020

Loss reclassified from AOCI to income on cash flow hedges:
Cost of goods and services	$	171

Loss on derivatives not designated as hedging instruments:
Other (income) expense, net	692

Total loss of derivative instruments	$	863

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

Components of income (loss) before income taxes—Domestic and foreign components of income before income taxes were as follows:


	Years Ended December 31,
(in thousands)	2020		2019		2018
Domestic	$	(811,995)	$	51,073	$	104,234
Foreign	49,246		8,113		17,119
Income (loss) before income taxes	$	(762,749)	$	59,186	$	121,353

Provision for (benefit from) income taxes—The provision for (benefit from) income taxes consisted of:


	Years Ended December 31,
(in thousands)	2020		2019		2018
Current:
U.S. federal	$	1,578	$	15,327	$	24,221
State and local	1,579		1,196		1,598
Foreign	20,264		4,264		4,362
Total current	23,421		20,787		30,181
Deferred:
U.S. federal	(32,454)		(12,815)		(2,255)
State and local	(6,738)		(1,156)		2,735
Foreign	(4,625)		(590)		(2,499)
Total deferred	(43,817)		(14,561)		(2,019)
Provision for (benefit from) income taxes	$	(20,396)	$	6,226	$	28,162

Effective income tax rate reconciliation—The effective income tax rate was different from the statutory U.S. federal income tax rate due to the following:


	Years Ended December 31,
	2020		2019		2018
Statutory U.S. federal income tax rate	21.0	%	21.0	%	21.0	%
Net difference resulting from:
State and local taxes, net of federal income tax benefit	0.5		3.2		3.4
Foreign withholding tax	(1.2)		1.8		0.3
Foreign derived intangible income	—		(0.8)		(1.9)
Foreign operations tax effect	(0.4)		—		0.3
Research and experimentation tax credits	0.4		(1.2)		(0.6)
Foreign tax credit	—		(8.0)		(1.5)
Nondeductible expenses	(0.6)		2.5		0.7
Branch income	(0.7)		0.6		—
Tax return to accrual adjustments	0.1		(9.4)		—
State deferred taxes	0.2		(7.9)		—
Goodwill Impairment	(15.5)		—		—
Foreign Inclusions (Including Global intangible low-taxed income)	(0.7)		—		2.3
Transaction Costs	(0.6)		—		—
Change in valuation allowance	(0.5)		9.0		—
Other	0.7		(0.3)		(0.8)
Effective income tax rate	2.7	%	10.5	%	23.2	%

Deferred tax assets and liabilities—Significant components of deferred tax assets and liabilities were as follows:


	December 31,
(in thousands)	2020		2019
Deferred tax assets attributable to:
Accrued compensation	$	13,437	$	8,725
Accrued expenses	3,950		455
Net operating loss and other carryforwards	25,879		5,937
Inventories	—		1,380
Accounts receivable	19,930		1,699


Lease liability	17,180		5,649
Long-term liabilities	1,470		529

Other assets	2,110		1,202
Deferred tax assets	83,956		25,576
Valuation allowance	(26,786)		(6,027)
Deferred tax assets, net of valuation allowance	$	57,170	$	19,549
Deferred tax liabilities attributable to:
Inventories	$	(2,124)	$	—
Intangible assets, including goodwill	(80,634)		(66,736)
Property, plant and equipment	(73,507)		(31,240)
Foreign withholding taxes	(15,673)		—
Lease asset	(18,293)		(5,633)
Investment in Subsidiary	(10,189)		—
Deferred tax liabilities	(200,420)		(103,609)
Net deferred tax liabilities	$	(143,250)	$	(84,060)

Classified as follows in the consolidated balance sheets:
Other non-current assets	$	13,033	$	—
Deferred income taxes	(156,283)		(84,060)
Net deferred tax liabilities	$	(143,250)	$	(84,060)

Effective Tax Rate. Our effective tax rate was 2.7% for 2020 compared to 10.5% for 2019. The effective tax rate for 2020 was primarily impacted by goodwill impairments which included $560.1 million of non-taxable goodwill.

Net operating loss carryforwards. As of December 31, 2020, our deferred tax asset balance included U.S. net operating loss carryforwards of $2.2 million and non-U.S. net operating loss carryforwards of $17.3 million. This entire balance is available to be carried forward; U.S. carryforwards do not expire and non-U.S. carryforwards will expire during the years 2024 through 2038.

Foreign tax credit carryforwards. As of December 31, 2020, our deferred tax asset balance included U.S. foreign tax credit carryforwards of $4.2 million. This entire balance is available to be carried forward and will expire during 2029.

Valuation allowance. Management assesses the available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit use of the existing deferred tax assets. A significant piece of objective negative evidence evaluated was the cumulative loss incurred over the three-year period ended December 31, 2020. Such objective evidence limits the ability to consider other subjective evidence, such as our projections for future growth. On the basis of this evaluation, as of December 31, 2020, we recorded a valuation allowance of $26.8 million to recognize only the portion of the deferred tax asset that is more likely than not to be realized. The amount of the deferred tax asset considered realizable, however, could be adjusted if estimates of future taxable income during the carryforward period are reduced or increased if objective negative evidence in the form of cumulative losses are no longer present and additional weight is given to subjective evidence such as our projections of future growth.

Unrecognized tax benefits. We file federal, state, and local tax returns in the United States as well as foreign tax returns. We are routinely audited by the tax authorities in these jurisdictions, and a number of audits are currently underway. We believe all income tax uncertainties have been properly accounted.

The Company accounts for uncertain tax positions in accordance with guidance in FASB ASC 740, “Income Taxes (Topic 740)”, which prescribes the minimum recognition threshold a tax position taken or expected to be taken in a tax return is required to meet before being recognized in the financial statements. A reconciliation of the beginning and ending amount of uncertain tax positions is as follows:


(in thousands)	Uncertain Tax Position
Balance at January 1, 2019	$	—
Additional based on tax positions related to prior years	868
Balance at December 31, 2020	$	868

The total amount of unrecognized tax benefits at December 31, 2020 was $0.9 million. The total balance of unrecognized tax benefit would impact the Company’s future effective income tax rate if recognized. The Company recognizes interest and penalties related to uncertain tax positions within the provision for income taxes in its consolidated statements of income (loss) and comprehensive income (loss). As of December 31, 2020, no interest and penalties have been accrued.

The Company is subject to U.S. federal income tax as well as income tax in multiple state jurisdictions. The earliest period the Company is subject to examination of federal income tax returns by the Internal Revenue Service is 2017. The state income tax returns and other state tax filings of the Company are subject to examination by the state taxing authorities for various periods, generally up to four years after they are filed.

Undistributed Earnings. As of December 31, 2020, the Company has $15.7 million of deferred tax liabilities primarily associated with withholding taxes on undistributed earnings generated by foreign subsidiaries. The Company continues to assert permanent reinvestment of the remaining undistributed earnings for which deferred taxes have not been provided for as of December 31, 2020. If there are policy changes, the Company would record the applicable taxes in the period of change. No deferred taxes have been provided for withholding taxes and other taxes on the remaining earnings as of December 31, 2020 as computation of the potential deferred tax liability associated with these undistributed earnings and any other basis differences is not practicable.

CARES Act. 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 did not have a material impact to our consolidated financial statements.

Tax Holidays. The Company has a tax incentive awarded by the Singapore Economic Development Board. This incentive provides 0% tax rate on manufacturing profits generated at the Company’s facility located on Jurong Island which expires in December 2024. The tax incentive provided no benefit in 2020 as the manufacturing income was not profitable.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS Dover Corporation Prior to the Separation, Dover provided certain services to us, including corporate executive management, human resources, information technology, facilities, tax, shared services, finance and legal services. Dover continued to provide us certain of these services on a temporary basis following the Separation under a transition services agreement. Under the transition services agreement, ChampionX paid a fee to Dover for services under the transition services agreement, which fee was intended to allow Dover to recover all of its direct and indirect costs generally without profit. The transition services agreement was terminated on January 31, 2019, consistent with the initial term provided within the agreement. Financial information presented prior to the Separation does not include all the expenses that would have been incurred had ChampionX been a stand-alone public company. The corporate expenses allocated by Dover to these financial statements were $7.4 million for the year ended December 31, 2018 and were recorded in selling, general and administrative expense in the consolidated statements of income (loss). For periods prior to the Separation, transactions between ChampionX and Dover, with the exception of transactions discussed below with Dover’s affiliates, are reflected in distributions to Dover Corporation, net in the consolidated statements of cash flows for the year ended December 31, 2018 as a financing activity. Revenue with Dover and its affiliates were not material for the periods presented. We recognized royalty expense of $2.3 million for the year ended December 31, 2018, related to the use of Dover’s intellectual property and patents which are included in other expense, net in the consolidated statements of income (loss). On April 1, 2018, patents and other intangibles owned by Dover related to our operations transferred to ChampionX, and consequently, ChampionX no longer incurred royalty charges related to these assets from Dover. Noncontrolling Interest and Unconsolidated Affiliates For the years ended December 31, 2020, 2019, and 2018, we declared and paid $2.2 million, none, and $2.7 million, respectively, of 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. In the ordinary course of business, we enter into certain transactions with our unconsolidated affiliates at market prices. These transactions primarily related to inventory sales and amounted to approximately $4.0 million for the year ended December 31, 2020.

Cash Flow Information

12 Months Ended

Dec. 31, 2020

Supplemental Cash Flow Elements [Abstract]

Cash Flow Information

CASH FLOW INFORMATION

Cash payments for income taxes and cash payments for interest incurred related to our debt are as follows:


	Years Ended December 31,
(in thousands)	2020		2019		2018
Cash information:
Cash paid for income taxes	$	18,179	$	26,464	$	27,191
Cash paid for interest	$	39,746	$	36,085	$	21,899

Supplemental cash flow information related to our lease liabilities is as follows:


(in thousands)	Statement of Cash Flows Classification	December 31, 2020		December 31, 2019
Cash paid for amounts included in measurement of lease liabilities:
Operating leases (1)	Operating	$	30,256	$	12,026
Finance leases - interest	Operating	$	550	$	439
Finance leases - principal	Financing	$	5,139	$	5,555
Supplemental non-cash information on lease liabilities arising from obtaining right-of-use assets:
Operating leases	Non-cash	$	37,631	$	38,225
Finance leases	Non-cash	$	4,017	$	6,412

_______________________

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

Leased Asset 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 leased asset program. During the years ended December 31, 2020, 2019, and 2018, we transferred $15.3 million, $75.7 million, and $97.0 million, respectively, of inventory into property, plant, and equipment as a result of assets entering our lease program.

Expenditures for assets that are placed into our leased asset program expected to be recovered through sale are reported in leased assets in the operating section of our consolidated statements of cash flows. All other capitalizable expenditures for assets that are placed into our leased asset program are classified as capital expenditures in the investing section of our consolidated statements of cash flows. During the years ended December 31, 2020, 2019, and 2018, we made cash payments of $20.8 million, $16.0 million, and $26.7 million, respectively, for surface equipment.

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2020

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II—Valuation and Qualifying Accounts


Allowance for Doubtful Accounts	Balance at Beginning of Year		Charged to Cost and Expense(1)	Accounts Written Off	Other	Balance at End of Year
Year Ended December 31, 2020	$	8,072	3,644	(3,230)	1,706	$	10,192
Year Ended December 31, 2019	$	4,745	4,955	(1,447)	(181)	$	8,072
Year Ended December 31, 2018	$	4,753	2,007	(1,489)	(526)	$	4,745

_______________________

(1) Net of recoveries on previously reserved or written-off balances.


Deferred Tax Valuation Allowance	Balance at Beginning of Year		Additions	Reductions	Other	Balance at End of Year
Year Ended December 31, 2020	$	6,027	21,101	(342)	—	$	26,786
Year Ended December 31, 2019	$	722	5,556	(251)	—	$	6,027
Year Ended December 31, 2018	$	1,280	331	(889)	—	$	722

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Our consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). All intercompany accounts and transactions have been eliminated. Prior to the Separation, our results of operations, financial position, and cash flows were derived from the consolidated financial statements and accounting records of Dover and reflect the combined historical results of operations, financial position, and cash flows of certain Dover entities conducting its upstream oil and gas energy business within Dover’s Energy segment, including an allocated portion of Dover’s corporate costs. As such, our consolidated statement of income, comprehensive income and cash flows for the year ended December 31, 2018 consist of the consolidated results of legacy Apergy on a stand-alone basis from May 9, 2018 to December 31, 2018, and the combined results of operations and cash flows for periods prior to May 9, 2018. For periods prior to the Separation, our combined financial statements include expense allocations for certain corporate functions historically performed by Dover and not allocated to its operating segments, including corporate executive management, human resources, information technology, facilities, tax, shared services, finance, and legal, including the costs of salaries, benefits and other related costs. These expense allocations were based on direct usage or benefit, where identifiable, with the remainder allocated on the basis of revenue, headcount, or other measures. Management believes the assumptions underlying these consolidated financial statements, including the assumptions regarding the allocation of corporate expenses from Dover for periods prior to the Separation, are reasonable. The allocations may not, however, reflect the expense we would have incurred as an independent, publicly traded company for the periods presented prior to the Separation. Actual costs that would have been incurred if we had been a stand-alone public company would depend on a variety of factors, including organizational structure and strategic decisions made in various areas, including information technology and infrastructure. Prior to the Separation, transactions with Dover, with the exception of transactions discussed in Note 19—Related Party Transactions, are reflected in the combined statements of cash flows as a financing activity in Distributions to Dover Corporation, net. See Note 19—Related Party Transactions for additional information. As a result of the Merger, the results of operations of legacy ChampionX have been reflected in our accompanying consolidated financial statements from the closing date of the Merger through December 31, 2020. Results for the periods prior to June 3, 2020 reflect the financial and operating results of Apergy and do not include the financial and operating results of legacy ChampionX. See Note 3—Merger Transaction, Acquisitions, And Dispositions for additional information on the Merger.
Use of estimates	Use of estimates—The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Such estimates include, but are not limited to, net realizable value of inventories, allowance for doubtful accounts, pension and post-retirement plans, future cash flows associated with impairment testing of goodwill, indefinite-lived intangible assets and other long-lived assets, estimates related to income taxes, and estimates related to contingencies.
Cash and cash equivalents	Cash and cash equivalents—Cash equivalents are highly liquid, short-term investments with original maturities of three months or less from their date of purchase.
Receivables, net of allowances	Receivables, net of allowances—Accounts receivable are carried at the invoiced amounts, less an allowance for doubtful accounts, and generally do not bear interest. The Company estimates the allowance for doubtful accounts for expected credit losses by analyzing accounts receivable balances by applying historical write-off and collection trend rates, as well as current economic and market conditions. Specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. Account balances are written off against the allowance when it is determined the receivable will not be recovered.
Inventories	Inventories—Inventories are stated at the lower of cost or net realizable value. The majority of our inventory costs are determined on the first-in, first-out (FIFO) basis. As of December 31, 2020 and 2019, approximately 35% and 23%, respectively, of our total net inventories were accounted for using the last-in, first-out (LIFO) basis, or market. Under the LIFO method, the cost assigned to items sold is based on the cost of the most recent items purchased. As a result, the costs of the first items purchased remain in inventory and are used to value ending inventory.
Property, plant and equipment	Property, plant and equipment—Property, plant and equipment is recorded at cost or fair value in connection with those assets acquired in a business combination. Depreciation is provided on the straight-line basis over the estimated useful lives of our assets as follows: buildings and improvements 5 to 40 years; machinery and equipment 1 to 20 years; and software 3 to 7 years. Expenditures for maintenance and repairs are expensed as incurred. Gains and losses are realized upon the sale or disposition of assets and are recorded in other expense, net on our consolidated statements of income (loss). Property, plant and equipment are reviewed for impairment whenever events or changes in circumstances indicate the carrying value of the long-lived asset may not be recoverable. The carrying value of a long-lived asset is not recoverable if it exceeds the sum of undiscounted cash flows expected to result from the use and eventual disposition of the asset. If it is determined that an impairment loss has occurred, the impairment loss is measured as the amount by which the carrying value of the long-lived asset exceeds its fair value.
Goodwill and other intangible assets	Goodwill and other intangible assets—We review goodwill for impairment annually or more frequently if events or changes in circumstances indicate that the carrying amount of such goodwill allocated to reporting units may exceed their fair value. We have established October 1 as the date of our annual test for impairment of goodwill for our legacy Apergy reporting units and May 31 for the acquired Chemical Technologies reporting units. We initially assess goodwill for impairment based on qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of one or more of our reporting units is less than its carrying amount. If the carrying amount exceeds the fair value, an impairment charge will be recognized in an amount equal to the excess; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Our finite-lived acquired intangible assets are amortized on a straight-line basis over their estimated useful lives, which generally range from 3 to 15 years. Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of the intangible asset may not be recoverable. The carrying amount of an intangible asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. If it is determined that an impairment loss has occurred, the loss is measured as the amount by which the carrying amount of the intangible asset exceeds its fair value. We have one intangible asset with an indefinite life which is tested annually for impairment.
Revenue Recognition	Revenue Recognition—Revenue is recognized to depict the transfer of control of the related goods and services to the customer. The majority of our revenue is generated through the manufacture and sale of a broad range of specialized products and components, with revenue recognized upon transfer of control, which typically occurs as title and risk of loss transfers. We account for shipping and handling activities performed after control of a good has been transferred to the customer as a contract fulfillment cost rather than a separate performance obligation. Revenue arrangements with customers in many instances require delivery, installation, testing, or other acceptance provisions to be satisfied before revenue is recognized. Service revenue is recognized as the services are performed. Software product revenue is recorded when the software product is shipped to the customer or over the term of the contract on a subscription based model. Estimates are used to determine the amount of variable consideration in contracts, as well as the determination of the standalone selling price among separate performance obligations. Some contracts with customers include variable consideration primarily related to volume rebates. We estimate variable consideration at the most likely amount to determine the total consideration which we expect to be entitled. Estimated amounts are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Our estimates of variable consideration and the determination of whether to include estimated amounts in the transaction price are largely based on an assessment of our anticipated performance and all information that is reasonably available. We exclude all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected from a customer (e.g., sales, use, value added, and some excise taxes) from the determination of the transaction price.
Lessor accounting	Lessor accounting—Our lease arrangements generally allow customers to rent equipment on a daily basis with no stated end date. Customers may return the equipment at any point subsequent to the lease commencement date without penalty. We account for these arrangements as a daily renewal option beginning on the lease commencement date, with the lease term determined as the period in which it is reasonably certain the option will be exercised. Based on our assessment of the lease classification criteria, our lease arrangements have been classified as operating leases. Our lease arrangements generally include lease and non-lease components for which revenue is recognized based on each component’s standalone price. Lease revenue is recognized on a straight-line basis over the term of the lease and is included in lease and other revenue in the consolidated statements of income (loss). Non-lease revenue related to our lease arrangements is recognized in accordance with our revenue recognition accounting policy. Assets in our lease program are reported in property, plant, and equipment, net on our consolidated balance sheets and are depreciated over their estimated useful lives. Certain contracts allow for leased equipment damaged in operation to be charged to the customer. Charges for damaged leased equipment is recorded as product revenue and the remaining net book value of the leased asset is expensed as costs of goods and services in the consolidated statements of income (loss).
Lessee accounting	Lessee accounting—Lease liabilities are measured at the lease commencement date and are based on the present value of remaining payments contractually required under the contract. Payments that are variable in nature are excluded from the measurement of our lease liabilities and are recorded as an expense as incurred. Options to renew or extend a lease are included in the measurement of our lease liabilities only when it is reasonably certain that we will exercise these rights. In estimating the present value of our lease liabilities, payments are discounted at our incremental borrowing rate (“IBR”), which we applied utilizing a portfolio approach. We utilized information publicly available from companies within our industry with similar credit profiles to construct a company-specific yield curve in order to estimate the rate of interest we would pay to borrow at various lease terms. At lease commencement, we recognize a lease right-of-use asset equal to our lease liability, adjusted for lease payments paid to the lessor prior to the lease commencement date, and any initial direct costs incurred. Operating lease expense is recorded on a straight-line basis over the lease term. For finance leases, we amortize our right-of-use assets on a straight-line basis over the shorter of the asset’s useful life or the lease term. Additionally, interest expense is recognized each period related to the accretion of our lease liabilities over their respective lease terms.
Stock-based compensation	Stock-based compensation—The cost of stock-based awards is measured at the grant date and are based on the fair value of the award. The value of the portion of the award that is expected to ultimately vest is recognized as expense on a straight-line basis, generally over the explicit service period and is included in selling, general and administrative expense in our consolidated statements of income. Forfeitures are accounted for as they occur. Expense for awards granted to retirement-eligible employees is recorded over the period from the date of grant through the date the employee first becomes eligible to retire and is no longer required to provide service.
Research and development costs	Research and development costs—Research and development costs are expensed as incurred
Income Taxes	Income Taxes—Prior to the Separation, our operations were historically included in Dover’s consolidated federal tax return and certain combined state returns. The income tax expense in our combined financial statements for these pre-Separation periods was determined on a stand-alone return basis which requires the recognition of income taxes using the liability method. Under this method, we assume to have historically filed a return separate from Dover, reporting our taxable income or loss and paying applicable tax based on our separate taxable income and associated tax attributes in each tax jurisdiction. Income taxes payable prior to Separation were computed under the stand-alone return basis. Accordingly, changes in income taxes payable for periods prior to the Separation are presented as a component of financing activities in the statement of cash flows. The calculation of income taxes on the separate return basis requires considerable judgment and the use of both estimates and allocations. As a result, our effective tax rate and deferred tax balances will significantly differ from those in the periods prior to the Separation. The Global Intangible Low-Taxed Income (“GILTI”) provisions of the Tax Reform Act, enacted in December 2017, require us to include in our U.S. income tax return foreign subsidiary earnings in excess of an allowable return on the foreign subsidiary’s tangible assets. We have elected to account for GILTI tax in the period in which it is incurred. Deferred tax assets and liabilities are measured using the tax rates that are expected to apply to taxable income for the years in which those tax assets and liabilities are expected to be realized or settled. We record valuation allowances related to our deferred tax assets when we determine it is more likely than not the benefits will not be realized. Interest and penalties related to unrecognized tax benefits are recorded as a component of our provision for income taxes.
Earnings per share (“EPS”)	Earnings per share (“EPS”)—Basic EPS is computed using the weighted-average number of common shares outstanding during the year. We use the treasury stock method to compute diluted EPS which gives effect to the potential dilution of earnings that could have occurred if additional shares were issued for awards granted under our incentive compensation and stock plan. The treasury stock method assumes proceeds that would be obtained upon exercise of awards granted under our incentive compensation and stock plan are used to purchase outstanding common stock at the average market price during the period.
Investments in Affiliated Companies	Investments in Affiliated Companies—Investments in companies in which ChampionX does not have a controlling financial interest, but over which it has significant influence, are accounted for using the equity method. ChampionX’s share of the after-tax earnings of equity method investees is included in Interest and other income.
Fair value measurements	Fair value measurements—We record our financial assets and financial liabilities at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The fair value framework requires the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets or liabilities, with the exception of certain assets and liabilities measured using the net asset value practical expedient, which are not required to be leveled. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. The three levels are defined as follows: •Level 1: Unadjusted quoted prices in active markets for identical assets and liabilities. •Level 2: Observable inputs other than quoted prices included in Level 1. For example, quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets. •Level 3: Unobservable inputs reflecting management’s own assumptions about the assumptions market participants would use in pricing the asset or liability.
Derivative financial instruments	Derivative financial instruments— The Company uses foreign currency forward contracts to manage risks associated with foreign currency exchange rates. The Company does not hold derivative financial instruments of a speculative nature or for trading purposes. See Note 17—Derivatives And Hedging Transactions for further information.
Foreign currency	Foreign currency—Financial statements of operations for which the U.S. dollar is not the functional currency, and are located in non-highly inflationary countries, are translated into U.S. dollars prior to consolidation. Assets and liabilities are translated at the exchange rate in effect at the balance sheet date, while income statement accounts are translated at the weighted-average monthly exchange rates. For these operations, translation gains and losses are recorded as a component of accumulated other comprehensive income (loss) in stockholders’ equity until the foreign entity is sold or liquidated. Assets and liabilities of an entity that are denominated in currencies other than an entity’s functional currency are remeasured into the functional currency using end of period exchange rates or historical rates when applicable to certain balances. Gains and losses related to these re-measurements are recorded in our consolidated statements of income (loss) as a component of other expense, net.
Accounting Standards Adopted	Accounting Standards Adopted Effective January 1, 2019, we adopted Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2016-02, “Leases (Topic 842)” using the modified retrospective method of adoption. See Note 10—Leases for additional information related to our lease accounting. Effective January 1, 2020, we adopted 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.

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [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 (1)	2,042
Provision for expected credit losses	6,107
Accounts written off	(3,230)
Recoveries	(2,463)
Foreign currency translation	(336)
December 31, 2020	$	10,192

_______________________

(1) Represents the impact of adoption of ASU 2016-13. See Note 2—New Accounting Standards for additional information.

Schedule of Inventory

Inventories consisted of the following:


(in thousands)	December 31, 2020		December 31, 2019
Raw materials	$	137,038	$	50,099
Work in progress	9,509		13,325
Finished goods	323,144		175,774
	469,691		239,198
Inventory reserve	(24,769)		(12,067)
LIFO adjustments (1)	(14,810)		(15,789)
Inventories, net	$	430,112	$	211,342

_______________________

(1) Represents the amount by which LIFO inventories exceeded their carrying value.

Merger Transaction, Acquisitions, and Dispositions (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Schedule of Acquisition Date Fair Value of Consideration Transferred

The acquisition-date fair value of the consideration transferred consisted of the following:


(in thousands)
Equity consideration	$	1,263,931
Replacement awards attributable to pre-combination services(1)	43,964

Unfavorable supply agreement(2)	46,000
Favorable supply agreement(2)	(59,000)
Fair value of consideration transferred	$	1,294,895

_______________________

The acquisition-date fair value of the consideration transferred consisted of the following:


(in thousands)
Cash			12,500
Contingent consideration (1)			1,500
Total consideration transferred			14,000

_______________________

Schedule of Fair Value of Assets Acquired

The following table provides the preliminary allocation of the purchase price as of the acquisition date.


(in thousands)
Cash and cash equivalents	$	57,588
Receivables	394,432
Inventories	340,000
Prepaid expenses and other current assets	63,576
Property, plant, and equipment	687,085
Identifiable intangible assets(1)	290,000
Other non-current assets	156,427
Total identifiable assets acquired	1,989,108
Accounts payable	184,028
Other current liabilities(1)	172,997
Long-term debt (2)	537,000
Deferred tax liabilities	103,956
Other liabilities(1)	98,970
Total liabilities assumed	1,096,951
Net identifiable assets acquired	892,157
Add: Negative fair value of non-controlling interests	16,052
Goodwill	386,686
Total net assets acquired	$	1,294,895

_______________________

(1) The fair value of the consideration transferred related to the favorable and unfavorable terms of the cross supply agreement has been excluded.


(in thousands)	Fair Value		Useful Life (years)
Land and land improvements	$	125,375	-
Buildings and leasehold improvements	208,649		5 to 40
Machinery, equipment, and other	333,478		3 to 20
Capitalized software and computer hardware	19,583		3 to 7
Total property, plant, and equipment acquired	$	687,085

The following table summarizes the final fair values of the assets acquired at the acquisition date:


(in thousands)
Inventory	$	1,840
Customer relationships	2,650
Technology - Technical know-how	4,000
Goodwill	5,510
Total assets acquired	$	14,000

Schedule of Identifiable Intangible Assets Acquired

Preliminary fair values are summarized below:


(in thousands)	Fair Value		Useful Life (years)
Trademarks and trade names	$	25,000	15
Developed technology	120,000		7
Customer relationships	145,000		15
Total identifiable intangible assets acquired	290,000
Favorable supply agreements	59,000		3
Total identifiable intangible assets recognized	$	349,000

Schedule of Non-recurring Pro Forma Adjustments

Non-recurring pro forma adjustments including acquisition-related costs directly attributable to the Merger are included within the reported pro forma revenue and net income (loss).


	Years Ended December 31,
(in thousands, except per share data)	2020		2019
Revenues	$	2,775,027	$	3,456,354
Net income (loss) attributable to ChampionX	(777,553)		229,126

Segment Information (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment Revenue and Operating Profit

Segment revenue and segment operating profit


	Years Ended December 31,
(in thousands)	2020		2019		2018
Segment revenue:
Production Chemical Technologies	$	992,805	$	—	$	—
Production & Automation Technologies	615,918		884,364		932,591
Drilling Technologies	116,186		246,887		285,565
Reservoir Chemical Technologies	61,507		—		—
Corporate and other (1)	113,580		—		—
Total revenue	$	1,899,996	$	1,131,251	$	1,218,156

Income (loss) before income taxes:
Segment operating profit:
Production Chemical Technologies	$	94,294	$	—	$	—
Production & Automation Technologies	(697,937)		54,024		74,187
Drilling Technologies	2,574		73,497		98,620
Reservoir Chemical Technologies	(6,198)		—		—
Total segment operating profit (loss)	(607,267)		127,521		172,807
Corporate and other (1)	103,751		29,034		23,806
Interest expense, net	51,731		39,301		27,648
Income (loss) before income taxes	$	(762,749)	$	59,186	$	121,353

____________________

Schedule of Property, Plant and Equipment, Net by Geographical Area


	December 31,
(in thousands)	2020		2019
Property, plant, and equipment, net:
United States	$	547,662	$	238,464
Singapore	111,184		—
Canada	85,487		5,749
Other Countries	110,203		3,968
Total property, plant, and equipment, net	$	854,536	$	248,181

Schedule of Other Segment Information


	Capital Expenditures Years Ended December 31,
(in thousands)	2020		2019		2018
Chemical Technologies (1)	$	10,498	$	—	$	—
Production & Automation Technologies	32,100		30,291		45,190
Drilling Technologies	1,736		9,061		11,123
Corporate and other	829		428		1,605
Total	$	45,163	$	39,780	$	57,918


	Depreciation & Amortization Years Ended December 31,
(in thousands)	2020		2019		2018
Production Chemical Technologies	$	58,328	$	—	$	—
Production & Automation Technologies	130,725		110,131		112,955
Drilling Technologies	7,940		9,263		11,037
Reservoir Chemical Technologies	5,741		—		—
Corporate and other	11,628		544		469
Total	$	214,362	$	119,938	$	124,461

Revenue (Tables)

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

Revenue disaggregated by geography was as follows:


	Year Ended December 31, 2020
(in thousands)	Production Chemical Technologies		Production & Automation Technologies		Drilling Technologies		Reservoir Chemical Technologies		Corporate and other (1)		Total
United States	$	318,460	$	458,690	$	82,812	$	31,907	$	72,948	$	964,817
Middle East & Africa	164,480		45,026		1,146		14,292		15,254		240,198
Latin America	202,177		21,679		22		4,283		3,650		231,811
Canada	129,210		32,709		9,029		1,414		640		173,002
Europe	116,192		10,521		11,840		1,990		12,052		152,595
Australia	13,225		41,233		110		274		—		54,842
Asia-Pacific	28,023		5,549		9,141		2,267		9,041		54,021
Other	21,038		511		2,086		5,080		(5)		28,710
Total revenue	$	992,805	$	615,918	$	116,186	$	61,507	$	113,580	$	1,899,996

_______________________


	Year Ended December 31, 2019
(in thousands)	Production Chemical Technologies		Production & Automation Technologies		Drilling Technologies		Reservoir Chemical Technologies		Corporate and other		Total
United States	$	—	$	679,280	$	181,721	$	—	$	—	$	861,001
Canada	—		52,647		17,667		—		—		70,314
Middle East	—		59,051		1,013		—		—		60,064
Europe	—		19,752		32,213		—		—		51,965
Latin America	—		32,389		19		—		—		32,408
Australia	—		30,702		139		—		—		30,841
Asia-Pacific	—		9,727		12,975		—		—		22,702
Other	—		816		1,140		—		—		1,956
Total revenue	$	—	$	884,364	$	246,887	$	—	$	—	$	1,131,251


	Year Ended December 31, 2018
(in thousands)	Production Chemical Technologies		Production & Automation Technologies		Drilling Technologies		Reservoir Chemical Technologies		Corporate and other		Total
United States	$	—	$	731,416	$	227,751	$	—	$	—	$	959,167
Canada	—		60,256		19,560		—		—		79,816
Middle East	—		53,315		201		—		—		53,516
Europe	—		12,686		25,983		—		—		38,669
Latin America	—		33,967		9		—		—		33,976
Australia	—		33,138		109		—		—		33,247
Asia-Pacific	—		7,176		10,430		—		—		17,606
Other	—		637		1,522		—		—		2,159
Total revenue	$	—	$	932,591	$	285,565	$	—	$	—	$	1,218,156

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.

Schedule of Contract Balances

The beginning and ending contract asset and contract liability balances from contracts with customers were as follows:


	December 31,
(in thousands)	2020		2019		2018

Contract assets	$	—	$	285	$	4,571
Contract liabilities	16,668		6,148		5,863

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment consisted of the following:


	December 31,
(in thousands)	2020		2019
Land and land improvements	$	140,209	$	14,419
Buildings and improvements	316,529		106,993
Software	37,638		15,323
Machinery, equipment and other	854,650		538,168
	1,349,026		674,903
Accumulated depreciation	(494,490)		(426,722)
Property, plant and equipment, net	$	854,536	$	248,181

Components of our leased asset program, all of which are included within Property, plant, and equipment, net on our consolidated balance sheet, are as follows:


(in thousands)	Useful life	December 31, 2020
Cable equipment	18 months	$	48,755
Downhole equipment	18 months	35,174
Surface equipment	5 years	69,172
Other lease equipment	3 - 5 years	21,773
		174,874
Accumulated depreciation		(110,299)
Leased assets, net		$	64,575

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

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


	December 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)	$	593,068	$	321,298	$	271,770	$	560,316	$	353,189	$	207,127
Trademarks (1)	59,881		27,565		32,316		35,695		24,830		10,865
Patents	38,635		29,289		9,346		38,436		26,838		11,598
Unpatented technologies	133,700		19,958		113,742		13,700		9,811		3,889
Favorable supply agreements (2)	59,000		11,308		47,692		—		—		—
Drawings and manuals	1,783		1,783		—		2,558		1,758		800
Other	5,374		4,831		543		5,332		4,504		828
	891,441		416,032		475,409		656,037		420,930		235,107
Indefinite-lived intangible assets:
Trademarks	3,600		—		3,600		3,600		—		3,600
Total	$	895,041	$	416,032	$	479,009	$	659,637	$	420,930	$	238,707

_______________________

(2) Favorable supply agreements were entered into as part of the Merger transaction. See Note 3—Merger Transaction, Acquisitions, And Dispositions for further information.

Schedule of Indefinite-Lived Intangible Assets

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


	December 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)	$	593,068	$	321,298	$	271,770	$	560,316	$	353,189	$	207,127
Trademarks (1)	59,881		27,565		32,316		35,695		24,830		10,865
Patents	38,635		29,289		9,346		38,436		26,838		11,598
Unpatented technologies	133,700		19,958		113,742		13,700		9,811		3,889
Favorable supply agreements (2)	59,000		11,308		47,692		—		—		—
Drawings and manuals	1,783		1,783		—		2,558		1,758		800
Other	5,374		4,831		543		5,332		4,504		828
	891,441		416,032		475,409		656,037		420,930		235,107
Indefinite-lived intangible assets:
Trademarks	3,600		—		3,600		3,600		—		3,600
Total	$	895,041	$	416,032	$	479,009	$	659,637	$	420,930	$	238,707

_______________________

(2) Favorable supply agreements were entered into as part of the Merger transaction. See Note 3—Merger Transaction, Acquisitions, And Dispositions for further information.

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated future amortization expense related to intangible assets held as of December 31, 2020, is as follows:


(in thousands)	Estimated Amortization
2021	$	87,698
2022	86,181
2023	60,855
2024	47,506
2025	36,396

Schedule of Goodwill

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


(in thousands)	Production Chemical Technologies		Production & Automation Technologies		Drilling Technologies		Reservoir Chemical Technologies		Total
December 31, 2018	$	—	$	803,849	$	101,136	$	—	$	904,985
Acquisition (1)	—		5,510		—		—		5,510
Foreign currency translation	—		618		—		—		618
December 31, 2019	—		809,977		101,136		—		911,113
Acquisition (1)	349,821		—		—		36,865		386,686
Impairment	—		(616,271)		—		—		(616,271)
Foreign currency translation	1,236		(2,169)		—		(1)		(934)
December 31, 2020	$	351,057	$	191,537	$	101,136	$	36,864	$	680,594

_______________________

(1) See Note 3—Merger Transaction, Acquisitions, And Dispositions for additional information related to the acquisitions completed during July 2019 and June 2020.

Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Debt

Long-term debt consisted of the following:


	December 31,
(in thousands)	2020		2019
2018 Credit Facility	$	—	$	—
2018 Term Loan Facility	140,000		265,000
2020 Term Loan Facility	523,575		—
6.375% Senior Notes due 2026	277,041		300,000
Total	940,616		565,000
Net unamortized discounts and issuance costs	(8,002)		(9,709)
Total long-term debt	932,614		555,291
Current portion of long-term debt (1)	(26,850)		—
Long-term debt, less current portion	$	905,764	$	555,291

_______________________

(1) Includes the mandatory amortization payments due within twelve months related to the 2020 Term Loan Facility.

Contractual Obligation, Maturity Schedule

As of December 31, 2020, aggregate contractual future principal payments on long-term debt are as follows:


(in thousands)	Principal Payments(1)
2021	$	26,850
2022	—
2023	—
2024	—
2025	140,000
Thereafter	773,766
Total	$	940,616

_______________________

(1) Principal payments included relate to our 2020 Term Loan Facility and Senior Notes. See Note 10—Leases for future payments related to finance lease obligations.

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Schedule of Leases, Balance Sheet Information

Leases are presented in our consolidated balance sheet as follows:


		December 31,
(in thousands)	Balance Sheet Classification	2020		2019
Right-of Use Assets:
Finance leases	Property, plant, and equipment, net	$	7,337	$	9,406
Operating leases	Operating lease right-of-use assets	122,481		24,289
Total lease right-of-use assets		129,818		33,695
Lease Liabilities:
Finance leases - current	Accrued expenses and other current liabilities	$	4,326	$	4,845
Finance leases	Other long-term liabilities	4,188		4,530
Operating leases - current	Current portion of operating lease liabilities	33,234		7,620
Operating leases	Operating lease liabilities	83,553		19,419
Total lease liabilities		$	125,301	$	36,414

Schedule of Lease Costs and Other Information

Components of total lease cost were as follows:


	Year Ended December 31,
(in thousands)	2020		2019
Finance lease cost:
Amortization of right-of-use assets	$	5,266	$	5,200
Interest on lease liabilities	567		439
Operating lease cost	31,850		11,191
Short-term and variable lease cost	12,917		5,045
Sublease income	(3,584)		(463)
Total lease cost	$	47,016	$	21,412

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


	December 31,
	2020		2019
Weighted-average remaining lease term (years):
Operating lease	6.3		4.6
Finance lease	2.7		2.1
Weighted-average discount rate:
Operating lease	6.7	%	6.7	%
Finance lease	6.0	%	5.3	%

Supplemental cash flow information related to our lease liabilities is as follows:


(in thousands)	Statement of Cash Flows Classification	December 31, 2020		December 31, 2019
Cash paid for amounts included in measurement of lease liabilities:
Operating leases (1)	Operating	$	30,256	$	12,026
Finance leases - interest	Operating	$	550	$	439
Finance leases - principal	Financing	$	5,139	$	5,555
Supplemental non-cash information on lease liabilities arising from obtaining right-of-use assets:
Operating leases	Non-cash	$	37,631	$	38,225
Finance leases	Non-cash	$	4,017	$	6,412

_______________________

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

Schedule of Future Minimum Operating Lease Payments

Future minimum payments, as determined in accordance with ASC 842, on our operating and finance leases as of December 31, 2020 are as follows:


(in thousands)	Operating		Finance
2021	$	40,594	$	4,727
2022	34,933		2,354
2023	21,994		973
2024	16,510		676
2025	5,745		443
Thereafter	24,877		529
Total future minimum lease payments	144,653		9,702
Interest included within lease payments	(27,866)		(1,188)
Total lease liabilities	$	116,787	$	8,514

Schedule of Future Minimum Financing Lease Payments

Future minimum payments, as determined in accordance with ASC 842, on our operating and finance leases as of December 31, 2020 are as follows:


(in thousands)	Operating		Finance
2021	$	40,594	$	4,727
2022	34,933		2,354
2023	21,994		973
2024	16,510		676
2025	5,745		443
Thereafter	24,877		529
Total future minimum lease payments	144,653		9,702
Interest included within lease payments	(27,866)		(1,188)
Total lease liabilities	$	116,787	$	8,514

Schedule of Leased Assets

Property, plant and equipment consisted of the following:


	December 31,
(in thousands)	2020		2019
Land and land improvements	$	140,209	$	14,419
Buildings and improvements	316,529		106,993
Software	37,638		15,323
Machinery, equipment and other	854,650		538,168
	1,349,026		674,903
Accumulated depreciation	(494,490)		(426,722)
Property, plant and equipment, net	$	854,536	$	248,181

Components of our leased asset program, all of which are included within Property, plant, and equipment, net on our consolidated balance sheet, are as follows:


(in thousands)	Useful life	December 31, 2020
Cable equipment	18 months	$	48,755
Downhole equipment	18 months	35,174
Surface equipment	5 years	69,172
Other lease equipment	3 - 5 years	21,773
		174,874
Accumulated depreciation		(110,299)
Leased assets, net		$	64,575

Restructuring (Tables)

12 Months Ended

Dec. 31, 2020

Restructuring and Related Activities [Abstract]

Restructuring and Other Related Charges

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


	Years Ended December 31,
(in thousands)	2020		2019		2018
Segment restructuring charges (1):
Production Chemical Technologies	$	5,241	$	—	$	—
Production & Automation Technologies	11,814		4,467		5,632
Drilling Technologies	5,521		710		—
Reservoir Chemical Technologies	348		—		—
Corporate and other	367		—		—
Total	$	23,291	$	5,177	$	5,632

Statements of Income (Loss) classification:
Cost of goods and services	$	13,955	$	3,592	$	4,693
Selling, general and administrative expense	9,336		1,585		939
Total (1)	$	23,291	$	5,177	$	5,632

_______________________

(1) Total restructuring expenses include asset write-downs, which are not included in the restructuring accrual below.

The following table details our restructuring accrual activities during the year ended December 31, 2020:


(in thousands)	Restructuring Accrual Balance
December 31, 2019	$	130
Restructuring charges	15,630
Payments	(19,004)
Liabilities assumed in the Merger	6,208
Other, including foreign currency translation	(13)
December 31, 2020	$	2,951

Equity and Cash Incentive Programs (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

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


	Years Ended December 31,
	2020		2019		2018
Stock-based compensation expense	$	19,536	$	10,250	$	5,375
Tax benefit	(4,478)		(2,153)		(1,141)
Stock-based compensation expense, net of tax	$	15,058	$	8,097	$	4,234

Schedule of Activity Related to SARs Outstanding

A summary of activity relating to SARs outstanding for the year ended December 31, 2020, is as follows:


	SARs
	Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2020	422,361	$	29.75


Forfeited / expired	(7,030)	34.13
Exercised	—	—
Outstanding at December 31, 2020	415,331	$	29.67	5.1	$	—

Exercisable at December 31, 2020	415,331	$	29.67	5.1	$	—

Schedule of Other Information Related to the Exercise of SARs

Other information regarding the exercise of SARs is presented below:


(in thousands)	2020		2019		2018
SARs:
Fair value of SARs that became exercisable	$	878	$	662	$	310
Aggregate intrinsic value of SARs exercised	—		629		40

Schedule of Fair Value Used in Determining Stock-Based Compensation Expense

The fair value used in determining stock-based compensation expense of the performance share awards issued in 2020, 2019, and 2018, is as follows:


Performance shares:	2020		2019		2018
Fair value per share at date of grant	$	14.55	$	57.43	$	56.32

The fair value and average attainment used in determining stock-based compensation expense of the performance shares issued in 2020 and 2019 are as follows:


Performance shares:	2020			2019
Fair value per share at date of grant	$	—		$	40.22
Average attainment rate reflected in expense	—		%	100		%

Schedule of Performance Shares

A summary of activity for ChampionX’s performance share awards under the 2018 Plan for the year ended December 31, 2020, is as follows:


	Shares	Weighted-Average Grant-Date Fair Value
Unvested at January 1, 2020	174,726	$	52.44
Granted	121,261	14.55
Forfeited	(5,011)	52.60
Vested	(12,213)	52.51
Unvested at December 31, 2020	278,763	$	35.95

Schedule of Restricted Stock Unit Activity

A summary of activity for restricted stock units for the year ended December 31, 2020, is as follows:


	Shares	Weighted-Average Grant-Date Fair Value
Unvested at January 1, 2020	440,048	$	41.07
Granted	655,584	14.13
Replacement awards (1)	2,357,733	10.34
Forfeited	(29,272)	31.61
Vested	(754,314)	17.64
Unvested at December 31, 2020	2,669,779	$	14.04

_______________________

Schedule of Non-Qualified Stock Options

A summary of activity for non-qualified stock options for the year ended December 31, 2020 is as follows:


	Non-Qualified Stock Options
	Shares	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2020	—	$	—
Granted	—	—
Replacement awards (1)	7,324,853	6.02
Forfeited / expired	(14,381)	7.20
Exercised	(135,432)	6.56
Outstanding at December 31, 2020	7,175,040	$	6.01	5.3	$	65,431

Exercisable at December 31, 2020	6,534,024	$	5.85	5.1	$	60,571

_______________________

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Summary of Capital Stock Activity

The following is a summary of our capital stock activity:


(in thousands)			Common Stock
December 31, 2018			77,353
Shares issued—share-based compensation			107
December 31, 2019			77,460
Issuance of common stock - Merger			122,237
Shares issued—share-based compensation			683
December 31, 2020			200,380

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		Cash Flow Hedges		Accumulated Other Comprehensive Loss
December 31, 2018	$	(36,146)	$	(6,760)	$	—	$	(42,906)
Other comprehensive income (loss) before reclassifications, net of tax	936		(2,711)		—		(1,775)
Reclassification adjustment for net losses included in net income, net of tax	—		644		—		644
Other comprehensive income (loss), net of tax	936		(2,067)		—		(1,131)
December 31, 2019	(35,210)		(8,827)		—		(44,037)
Other comprehensive income (loss) before reclassifications, net of tax	20,245		(5,504)		(2,320)		12,421
Reclassification adjustment for net losses included in net income, net of tax	—		861		—		861
Other comprehensive income (loss), net of tax	20,245		(4,643)		(2,320)		13,282
December 31, 2020	$	(14,965)	$	(13,470)	$	(2,320)	$	(30,755)

Reclassifications from Accumulated Comprehensive Loss

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


	Years Ended December 31,						Affected line items on the consolidated statements of income
(in thousands)	2020		2019		2018
Amortization of actuarial loss and net transition obligation(1)	$	492	$	364	$	330	Other expense, net
Amortization of prior service cost (1)	—		2		1		Other expense, net
Settlement loss (1)	698		508		479		Other expense, net
	1,190		874		810		Income before income taxes
	(329)		(230)		(210)		Provision for (benefit from) income taxes
	$	861	$	644	$	600	Net income

_______________________

(1) These accumulated comprehensive loss components are included in the computation of net periodic benefit cost (See Note 12—Employee Benefit Plans for additional information).

- Definition

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

+ References

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-Subparagraph (SX 210.5-02(27))
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Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21484-112644

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Earnings Per Share (Tables)

12 Months Ended

Dec. 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:


	Years Ended December 31,
(in thousands, except per share data)	2020		2019		2018
Net income (loss) attributable to ChampionX	$	(743,930)	$	52,164	$	92,737

Weighted-average number of shares outstanding	148,370		77,427		77,342
Dilutive effect of stock-based compensation	—		197		350
Total shares and dilutive securities	148,370		77,624		77,692

Basic earnings per share attributable to ChampionX	$	(5.01)	$	0.67	$	1.20
Diluted earnings per share attributable to ChampionX	$	(5.01)	$	0.67	$	1.19

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured on Recurring Basis

The carrying amount and the estimated fair value for assets and liabilities measured on a recurring basis are as follows:


	December 31, 2020
	Carrying Amount		Fair Value Measurements
(in thousands)			Level 1		Level 2		Level 3
Assets
Foreign currency forward contracts	$	4,576	$	—	$	4,576	$	—

Liabilities
Foreign currency forward contracts	$	6,561	$	—	$	6,561	$	—

Schedule of Fair Value of Long-Term Debt

The carrying amount and the estimated fair value of long-term debt, including current maturities, held by the Company were:


	December 31, 2020				December 31, 2019
(in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
2018 Term Loan Facility	$	140,000	$	137,200	$	265,000	$	266,161
2020 Term Loan Facility	$	523,575	$	530,120	$	—	$	—
6.375% Senior Notes due 2026	$	277,041	$	277,054	$	300,000	$	316,710

Derivatives and Hedging Transactions (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Values of Outstanding Derivatives


	December 31, 2020
(in thousands)	Derivative Assets		Derivative Liabilities




Prepaid expenses and other current assets	$	4,576	$	—

Accrued expenses and other current liabilities	—		6,561

	$	4,576	$	6,561

The following table summarizes the notional values of the Company’s outstanding derivatives:


(in thousands)	December 31, 2020
Notional value of foreign currency forward contracts	$	483,377

Schedule of Gain (Loss) on Derivative Instruments

The loss of all derivative instruments recognized is summarized below:


(in thousands)	Year Ended December 31, 2020

Loss reclassified from AOCI to income on cash flow hedges:
Cost of goods and services	$	171

Loss on derivatives not designated as hedging instruments:
Other (income) expense, net	692

Total loss of derivative instruments	$	863

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5580258-113959

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-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41620-113959

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
-Topic 815
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41638-113959

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Section 50
-Paragraph 8
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579240-113959

+ Details

Income Taxes - (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Domestic and foreign components of income (loss) before income taxes

Domestic and foreign components of income before income taxes were as follows:


	Years Ended December 31,
(in thousands)	2020		2019		2018
Domestic	$	(811,995)	$	51,073	$	104,234
Foreign	49,246		8,113		17,119
Income (loss) before income taxes	$	(762,749)	$	59,186	$	121,353

Provision for (benefit from) income tax

The provision for (benefit from) income taxes consisted of:


	Years Ended December 31,
(in thousands)	2020		2019		2018
Current:
U.S. federal	$	1,578	$	15,327	$	24,221
State and local	1,579		1,196		1,598
Foreign	20,264		4,264		4,362
Total current	23,421		20,787		30,181
Deferred:
U.S. federal	(32,454)		(12,815)		(2,255)
State and local	(6,738)		(1,156)		2,735
Foreign	(4,625)		(590)		(2,499)
Total deferred	(43,817)		(14,561)		(2,019)
Provision for (benefit from) income taxes	$	(20,396)	$	6,226	$	28,162

Effective income tax rate reconciliation

The effective income tax rate was different from the statutory U.S. federal income tax rate due to the following:


	Years Ended December 31,
	2020		2019		2018
Statutory U.S. federal income tax rate	21.0	%	21.0	%	21.0	%
Net difference resulting from:
State and local taxes, net of federal income tax benefit	0.5		3.2		3.4
Foreign withholding tax	(1.2)		1.8		0.3
Foreign derived intangible income	—		(0.8)		(1.9)
Foreign operations tax effect	(0.4)		—		0.3
Research and experimentation tax credits	0.4		(1.2)		(0.6)
Foreign tax credit	—		(8.0)		(1.5)
Nondeductible expenses	(0.6)		2.5		0.7
Branch income	(0.7)		0.6		—
Tax return to accrual adjustments	0.1		(9.4)		—
State deferred taxes	0.2		(7.9)		—
Goodwill Impairment	(15.5)		—		—
Foreign Inclusions (Including Global intangible low-taxed income)	(0.7)		—		2.3
Transaction Costs	(0.6)		—		—
Change in valuation allowance	(0.5)		9.0		—
Other	0.7		(0.3)		(0.8)
Effective income tax rate	2.7	%	10.5	%	23.2	%

Significant components of deferred tax assets and liabilities

Significant components of deferred tax assets and liabilities were as follows:


	December 31,
(in thousands)	2020		2019
Deferred tax assets attributable to:
Accrued compensation	$	13,437	$	8,725
Accrued expenses	3,950		455
Net operating loss and other carryforwards	25,879		5,937
Inventories	—		1,380
Accounts receivable	19,930		1,699


Lease liability	17,180		5,649
Long-term liabilities	1,470		529

Other assets	2,110		1,202
Deferred tax assets	83,956		25,576
Valuation allowance	(26,786)		(6,027)
Deferred tax assets, net of valuation allowance	$	57,170	$	19,549
Deferred tax liabilities attributable to:
Inventories	$	(2,124)	$	—
Intangible assets, including goodwill	(80,634)		(66,736)
Property, plant and equipment	(73,507)		(31,240)
Foreign withholding taxes	(15,673)		—
Lease asset	(18,293)		(5,633)
Investment in Subsidiary	(10,189)		—
Deferred tax liabilities	(200,420)		(103,609)
Net deferred tax liabilities	$	(143,250)	$	(84,060)

Classified as follows in the consolidated balance sheets:
Other non-current assets	$	13,033	$	—
Deferred income taxes	(156,283)		(84,060)
Net deferred tax liabilities	$	(143,250)	$	(84,060)

Schedule of uncertain tax positions

A reconciliation of the beginning and ending amount of uncertain tax positions is as follows:


(in thousands)	Uncertain Tax Position
Balance at January 1, 2019	$	—
Additional based on tax positions related to prior years	868
Balance at December 31, 2020	$	868

Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2020

Supplemental Cash Flow Elements [Abstract]

Cash and Non-cash Supplemental Information

Cash payments for income taxes and cash payments for interest incurred related to our debt are as follows:


	Years Ended December 31,
(in thousands)	2020		2019		2018
Cash information:
Cash paid for income taxes	$	18,179	$	26,464	$	27,191
Cash paid for interest	$	39,746	$	36,085	$	21,899

Schedule of Supplemental Cash Flow Information Related to Leases

Components of total lease cost were as follows:


	Year Ended December 31,
(in thousands)	2020		2019
Finance lease cost:
Amortization of right-of-use assets	$	5,266	$	5,200
Interest on lease liabilities	567		439
Operating lease cost	31,850		11,191
Short-term and variable lease cost	12,917		5,045
Sublease income	(3,584)		(463)
Total lease cost	$	47,016	$	21,412

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


	December 31,
	2020		2019
Weighted-average remaining lease term (years):
Operating lease	6.3		4.6
Finance lease	2.7		2.1
Weighted-average discount rate:
Operating lease	6.7	%	6.7	%
Finance lease	6.0	%	5.3	%

Supplemental cash flow information related to our lease liabilities is as follows:


(in thousands)	Statement of Cash Flows Classification	December 31, 2020		December 31, 2019
Cash paid for amounts included in measurement of lease liabilities:
Operating leases (1)	Operating	$	30,256	$	12,026
Finance leases - interest	Operating	$	550	$	439
Finance leases - principal	Financing	$	5,139	$	5,555
Supplemental non-cash information on lease liabilities arising from obtaining right-of-use assets:
Operating leases	Non-cash	$	37,631	$	38,225
Finance leases	Non-cash	$	4,017	$	6,412

_______________________

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

Basis of Presentation and Summary of Significant Accounting Policies - Allowance for Credit Losses Rollforward (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses, beginning balance	$ 8,072
Provision for expected credit losses	6,107
Accounts written off	(3,230)
Recoveries	(2,463)
Foreign currency translation	(336)
Allowance for credit losses, ending balance	10,192
Cumulative Effect Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses, beginning balance	$ 2,042

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 137,038	$ 50,099
Work in progress	9,509	13,325
Finished goods	323,144	175,774
Inventory, gross	469,691	239,198
Inventory reserve	(24,769)	(12,067)
LIFO Adjustments	(14,810)	(15,789)
Inventories, net	$ 430,112	$ 211,342
Percentage of LIFO inventory	35.00%	23.00%

Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details) - USD ($)
$ / shares in Units, $ in Thousands

12 Months Ended

Apr. 01, 2020

Mar. 31, 2020

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Property, Plant and Equipment [Line Items]

Research and development expense

$ 31,200

$ 12,900

$ 16,000

Increase in depreciation expense

142,647

68,557

72,569

Decrease in net income

$ 743,930

$ (52,164)

$ (92,737)

Decrease in earnings per share, basic (in dollars per share)

^[1]

$ 5.01

$ (0.67)

$ (1.20)

Decrease in earnings per share, diluted (in dollars per share)

^[1]

$ 5.01

$ (0.67)

$ (1.19)

Accrued foreign withholding taxes on undistributed foreign earnings

$ 15,673

$ 0

Minimum | Buildings and leasehold improvements

Property, Plant and Equipment [Line Items]

Useful life of property, plant and equipment (in years)

5 years

Minimum | Machinery, equipment, and other

Property, Plant and Equipment [Line Items]

Useful life of property, plant and equipment (in years)

1 year

Minimum | Software

Property, Plant and Equipment [Line Items]

Useful life of property, plant and equipment (in years)

3 years

Minimum | Other intangible assets

Property, Plant and Equipment [Line Items]

Useful life of acquired intangibles (in years)

3 years

Maximum | Buildings and leasehold improvements

Property, Plant and Equipment [Line Items]

Useful life of property, plant and equipment (in years)

40 years

Maximum | Machinery, equipment, and other

Property, Plant and Equipment [Line Items]

Useful life of property, plant and equipment (in years)

20 years

Maximum | Software

Property, Plant and Equipment [Line Items]

Useful life of property, plant and equipment (in years)

7 years

Maximum | Other intangible assets

Property, Plant and Equipment [Line Items]

Useful life of acquired intangibles (in years)

15 years

Salvage Value

Property, Plant and Equipment [Line Items]

Useful life of property, plant and equipment (in years)

18 months

12 months

Equipment salvage value estimate, as a percentage of total value

0.00%

50.00%

Increase in depreciation expense

$ 37,600

Decrease in net income

$ 26,400

Decrease in earnings per share, basic (in dollars per share)

$ 0.18

Decrease in earnings per share, diluted (in dollars per share)

$ (0.18)

[1]	See Note 15—Earnings Per Share.

New Accounting Standards - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Jan. 01, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings (accumulated deficit)		$ (638,457)	$ 107,048
Income Tax Expense (Benefit)		$ (20,396)	$ 6,226	$ 28,162
Cumulative Effect Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings (accumulated deficit)	$ 1,600
Income Tax Expense (Benefit)	$ 400

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Merger Transaction, Acquisitions, and Dispositions - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended	7 Months Ended	12 Months Ended
	Jun. 03, 2020	Jul. 31, 2019	Jun. 30, 2019	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Operating lease right-of-use assets				$ 122,481	$ 122,481	$ 24,289
Total lease liabilities				116,787	116,787
Goodwill, acquired during period					386,686	5,510
Impairment loss						1,700
Payment on sale of business			$ 2,200		0	2,194	$ (2,473)
Loss (gain) on sale of business					0	2,475	$ (1,286)
Customer relationships
Business Acquisition [Line Items]
Weighted average amortization period for identifiable intangible assets		15 years
Legacy ChampionX
Business Acquisition [Line Items]
Number of shares issued (in shares)	122,200,000
Share price (in dollars per share)	$ 10.34
Percentage of equity interest acquired	100.00%
Acquisition related costs					61,800	9,300
Fair-value step up on inventory acquired measured under FIFO	$ 14,500
Weighted average amortization period for identifiable intangible assets	10 years 2 months 12 days
Operating lease right-of-use assets	$ 101,000
Total lease liabilities	93,200
Goodwill, acquired during period	$ 386,700
Revenues of acquiree since date of acquisition				1,200,000
Net income of acquiree since date of acquisition				$ 57,000
Legacy ChampionX \| Customer relationships
Business Acquisition [Line Items]
Weighted average amortization period for identifiable intangible assets	15 years
Legacy ChampionX \| Ecolab
Business Acquisition [Line Items]
Number of shares converted (in shares)	0.040540
Legacy ChampionX \| ChampionX Equityholders
Business Acquisition [Line Items]
Percentage of equity interest acquired	62.00%
Legacy ChampionX \| Equityholders, Prior To Merger
Business Acquisition [Line Items]
Percentage of equity interest acquired	38.00%
Production Chemical Technologies
Business Acquisition [Line Items]
Goodwill, acquired during period					349,821	0
Production Chemical Technologies \| Legacy ChampionX
Business Acquisition [Line Items]
Goodwill, acquired during period	$ 349,800
Reservoir Chemical Technologies
Business Acquisition [Line Items]
Goodwill, acquired during period					36,865	$ 0
Reservoir Chemical Technologies \| Legacy ChampionX
Business Acquisition [Line Items]
Goodwill, acquired during period	$ 36,900
Ecolab
Business Acquisition [Line Items]
Revenue recognized under supply and product transfer agreement					$ 113,600

Merger Transaction, Acquisitions, and Dispositions - Schedule of Preliminary Purchase Price Allocation (Details) - Legacy ChampionX $ in Thousands	Jun. 03, 2020 USD ($)
Business Acquisition [Line Items]
Equity consideration	$ 1,263,931
Replacement awards attributable to pre-combination services	43,964
Unfavorable supply agreement	46,000
Favorable supply agreement	(59,000)
Fair value of consideration transferred	$ 1,294,895
Favorable supply agreements
Business Acquisition [Line Items]
Useful life of intangible assets recognized	3 years

Merger Transaction, Acquisitions, and Dispositions - Schedule of Preliminary Allocation of Purchase Price (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 03, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill	$ 680,594		$ 911,113	$ 904,985
Legacy ChampionX
Business Acquisition [Line Items]
Cash and cash equivalents		$ 57,588
Receivables		394,432
Inventory		340,000
Prepaid expenses and other current assets		63,576
Property, plant, and equipment		687,085
Identifiable intangible assets		290,000
Other non-current assets		156,427
Total identifiable assets acquired		1,989,108
Accounts payable		184,028
Other current liabilities		172,997
Long-term debt		537,000
Deferred tax liabilities		103,956
Other liabilities		98,970
Total liabilities assumed		1,096,951
Net identifiable assets acquired		892,157
Add: Negative fair value of non-controlling interests		16,052
Goodwill		386,686
Total net assets acquired		1,294,895
Short-term debt		$ 26,900

Merger Transaction, Acquisitions, and Dispositions - Schedule of Property, Plant and Equipment Acquired (Details) - USD ($) $ in Thousands		12 Months Ended
	Jun. 03, 2020	Dec. 31, 2020
Legacy ChampionX
Business Acquisition [Line Items]
Land and land improvements	$ 125,375
Buildings and leasehold improvements	208,649
Machinery, equipment, and other	333,478
Capitalized software and computer hardware	19,583
Total property, plant, and equipment acquired	$ 687,085
Buildings and leasehold improvements \| Minimum
Business Acquisition [Line Items]
Useful life of property, plant and equipment (in years)		5 years
Buildings and leasehold improvements \| Minimum \| Legacy ChampionX
Business Acquisition [Line Items]
Useful life of property, plant and equipment (in years)	5 years
Buildings and leasehold improvements \| Maximum
Business Acquisition [Line Items]
Useful life of property, plant and equipment (in years)		40 years
Buildings and leasehold improvements \| Maximum \| Legacy ChampionX
Business Acquisition [Line Items]
Useful life of property, plant and equipment (in years)	40 years
Machinery, equipment, and other \| Minimum
Business Acquisition [Line Items]
Useful life of property, plant and equipment (in years)		1 year
Machinery, equipment, and other \| Minimum \| Legacy ChampionX
Business Acquisition [Line Items]
Useful life of property, plant and equipment (in years)	3 years
Machinery, equipment, and other \| Maximum
Business Acquisition [Line Items]
Useful life of property, plant and equipment (in years)		20 years
Machinery, equipment, and other \| Maximum \| Legacy ChampionX
Business Acquisition [Line Items]
Useful life of property, plant and equipment (in years)	20 years
Capitalized software and computer hardware \| Minimum \| Legacy ChampionX
Business Acquisition [Line Items]
Useful life of property, plant and equipment (in years)	3 years
Capitalized software and computer hardware \| Maximum \| Legacy ChampionX
Business Acquisition [Line Items]
Useful life of property, plant and equipment (in years)	7 years

Merger Transaction, Acquisitions, and Dispositions - Schedule of Identifiable Intangible Assets Acquired (Details) - USD ($) $ in Thousands	Jun. 03, 2020	Jul. 31, 2019
Legacy ChampionX
Business Acquisition [Line Items]
Identifiable intangible assets acquired	$ 290,000
Identifiable intangible assets recognized	$ 349,000
Useful life of intangible assets acquired	10 years 2 months 12 days
Trademarks and trade names \| Legacy ChampionX
Business Acquisition [Line Items]
Identifiable intangible assets acquired	$ 25,000
Useful life of intangible assets acquired	15 years
Developed technology \| Legacy ChampionX
Business Acquisition [Line Items]
Identifiable intangible assets acquired	$ 120,000
Useful life of intangible assets acquired	7 years
Customer relationships
Business Acquisition [Line Items]
Useful life of intangible assets acquired		15 years
Customer relationships \| Legacy ChampionX
Business Acquisition [Line Items]
Identifiable intangible assets acquired	$ 145,000
Useful life of intangible assets acquired	15 years
Favorable supply agreements \| Legacy ChampionX
Business Acquisition [Line Items]
Identifiable intangible assets recognized	$ 59,000
Useful life of intangible assets recognized	3 years

Merger Transaction, Acquisitions, and Dispositions - Schedule of Pro Forma Information (Details) - Legacy ChampionX - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Revenues	$ 2,775,027	$ 3,456,354
Net income (loss) attributable to ChampionX	$ (777,553)	$ 229,126

Merger Transaction, Acquisitions, and Dispositions - Schedule of Other Acquisitions (Details) - USD ($) $ in Thousands	Jun. 03, 2020	Jul. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Acquired Finite-Lived Intangible Assets [Line Items]
Contingent consideration revenue target period		18 months
Goodwill			$ 680,594	$ 911,113	$ 904,985
Legacy ChampionX
Acquired Finite-Lived Intangible Assets [Line Items]
Fair value of consideration transferred	$ 1,294,895
Inventory	340,000
Identifiable intangible assets	290,000
Goodwill	386,686
Total assets acquired	892,157
Other Acquisitions
Acquired Finite-Lived Intangible Assets [Line Items]
Cash		$ 12,500
Contingent consideration		1,500
Fair value of consideration transferred		14,000
Inventory		1,840
Goodwill		5,510
Total assets acquired		14,000
Customer Relationships [Member] \| Legacy ChampionX
Acquired Finite-Lived Intangible Assets [Line Items]
Identifiable intangible assets	$ 145,000
Customer Relationships [Member] \| Other Acquisitions
Acquired Finite-Lived Intangible Assets [Line Items]
Identifiable intangible assets		2,650
Unpatented Technology [Member] \| Other Acquisitions
Acquired Finite-Lived Intangible Assets [Line Items]
Identifiable intangible assets		$ 4,000

Segment Information - Segment Revenue and Segment Operating Profit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Revenue	$ 1,899,996	$ 1,131,251	$ 1,218,156
Interest expense, net	51,731	39,301	27,648
Income (loss) before income taxes	(762,749)	59,186	121,353
Reporting segments
Segment Reporting Information [Line Items]
Income (loss) before income taxes	(607,267)	127,521	172,807
Reporting segments \| Production Chemical Technologies
Segment Reporting Information [Line Items]
Revenue	992,805	0	0
Income (loss) before income taxes	94,294	0	0
Reporting segments \| Production & Automation Technologies
Segment Reporting Information [Line Items]
Revenue	615,918	884,364	932,591
Income (loss) before income taxes	(697,937)	54,024	74,187
Reporting segments \| Drilling Technologies
Segment Reporting Information [Line Items]
Revenue	116,186	246,887	285,565
Income (loss) before income taxes	2,574	73,497	98,620
Reporting segments \| Reservoir Chemical Technologies
Segment Reporting Information [Line Items]
Revenue	61,507	0	0
Income (loss) before income taxes	(6,198)	0	0
Corporate and other
Segment Reporting Information [Line Items]
Revenue	113,580	0	0
Income (loss) before income taxes	$ 103,751	$ 29,034	$ 23,806

Segment Information - Segment Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 3,475,776	$ 1,922,825

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (bb)
-URI http://asc.fasb.org/extlink&oid=121559654&loc=d3e5710-111685

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 25
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(12))
-URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

+ Details

Segment Information - Geographic Segment Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Revenue, Major Customer [Line Items]
Total property, plant, and equipment, net	$ 854,536	$ 248,181
UNITED STATES
Revenue, Major Customer [Line Items]
Total property, plant, and equipment, net	547,662	238,464
Singapore
Revenue, Major Customer [Line Items]
Total property, plant, and equipment, net	111,184	0
Canada
Revenue, Major Customer [Line Items]
Total property, plant, and equipment, net	85,487	5,749
Other Countries
Revenue, Major Customer [Line Items]
Total property, plant, and equipment, net	$ 110,203	$ 3,968

Segment Information - Other Business Segment Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Capital expenditures	$ 45,163	$ 39,780	$ 57,918
Depreciation and amortization	214,362	119,938	124,461
Reporting segments \| Production Chemical Technologies
Segment Reporting Information [Line Items]
Capital expenditures	10,498	0	0
Depreciation and amortization	58,328	0	0
Reporting segments \| Production & Automation Technologies
Segment Reporting Information [Line Items]
Capital expenditures	32,100	30,291	45,190
Depreciation and amortization	130,725	110,131	112,955
Reporting segments \| Drilling Technologies
Segment Reporting Information [Line Items]
Capital expenditures	1,736	9,061	11,123
Depreciation and amortization	7,940	9,263	11,037
Reporting segments \| Reservoir Chemical Technologies
Segment Reporting Information [Line Items]
Depreciation and amortization	5,741	0	0
Corporate and other \| Corporate and Other
Segment Reporting Information [Line Items]
Capital expenditures	829	428	1,605
Depreciation and amortization	$ 11,628	$ 544	$ 469

Revenue - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Accrued distributor fees	$ 37,465	$ 0

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,899,996	$ 1,131,251	$ 1,218,156
UNITED STATES
Disaggregation of Revenue [Line Items]
Total revenue	964,817	861,001	959,167
Middle East & Africa
Disaggregation of Revenue [Line Items]
Total revenue	240,198
Middle East [Member]
Disaggregation of Revenue [Line Items]
Total revenue		60,064	53,516
Latin America [Member]
Disaggregation of Revenue [Line Items]
Total revenue	231,811	32,408	33,247
Canada
Disaggregation of Revenue [Line Items]
Total revenue	173,002	70,314	79,816
Europe [Member]
Disaggregation of Revenue [Line Items]
Total revenue	152,595	51,965	38,669
AUSTRALIA
Disaggregation of Revenue [Line Items]
Total revenue	54,842	30,841	33,976
Asia-Pacific
Disaggregation of Revenue [Line Items]
Total revenue	54,021	22,702	17,606
Other
Disaggregation of Revenue [Line Items]
Total revenue	28,710	1,956	2,159
Corporate and other
Disaggregation of Revenue [Line Items]
Total revenue	113,580	0	0
Corporate and other \| UNITED STATES
Disaggregation of Revenue [Line Items]
Total revenue	72,948	0	0
Corporate and other \| Middle East & Africa
Disaggregation of Revenue [Line Items]
Total revenue	15,254
Corporate and other \| Middle East [Member]
Disaggregation of Revenue [Line Items]
Total revenue		0	0
Corporate and other \| Latin America [Member]
Disaggregation of Revenue [Line Items]
Total revenue	3,650	0	0
Corporate and other \| Canada
Disaggregation of Revenue [Line Items]
Total revenue	640	0	0
Corporate and other \| Europe [Member]
Disaggregation of Revenue [Line Items]
Total revenue	12,052	0	0
Corporate and other \| AUSTRALIA
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Corporate and other \| Asia-Pacific
Disaggregation of Revenue [Line Items]
Total revenue	9,041	0	0
Corporate and other \| Other
Disaggregation of Revenue [Line Items]
Total revenue	(5)	0	0
Production Chemical Technologies \| UNITED STATES
Disaggregation of Revenue [Line Items]
Total revenue	318,460	0	0
Production Chemical Technologies \| Middle East & Africa
Disaggregation of Revenue [Line Items]
Total revenue	164,480
Production Chemical Technologies \| Middle East [Member]
Disaggregation of Revenue [Line Items]
Total revenue		0	0
Production Chemical Technologies \| Latin America [Member]
Disaggregation of Revenue [Line Items]
Total revenue	202,177	0	0
Production Chemical Technologies \| Canada
Disaggregation of Revenue [Line Items]
Total revenue	129,210	0	0
Production Chemical Technologies \| Europe [Member]
Disaggregation of Revenue [Line Items]
Total revenue	116,192	0	0
Production Chemical Technologies \| AUSTRALIA
Disaggregation of Revenue [Line Items]
Total revenue	13,225	0	0
Production Chemical Technologies \| Asia-Pacific
Disaggregation of Revenue [Line Items]
Total revenue	28,023	0	0
Production Chemical Technologies \| Other
Disaggregation of Revenue [Line Items]
Total revenue	21,038	0	0
Production Chemical Technologies \| Reporting segments
Disaggregation of Revenue [Line Items]
Total revenue	992,805	0	0
Production & Automation Technologies \| UNITED STATES
Disaggregation of Revenue [Line Items]
Total revenue	458,690	679,280	731,416
Production & Automation Technologies \| Middle East & Africa
Disaggregation of Revenue [Line Items]
Total revenue	45,026
Production & Automation Technologies \| Middle East [Member]
Disaggregation of Revenue [Line Items]
Total revenue		59,051	53,315
Production & Automation Technologies \| Latin America [Member]
Disaggregation of Revenue [Line Items]
Total revenue	21,679	32,389	33,138
Production & Automation Technologies \| Canada
Disaggregation of Revenue [Line Items]
Total revenue	32,709	52,647	60,256
Production & Automation Technologies \| Europe [Member]
Disaggregation of Revenue [Line Items]
Total revenue	10,521	19,752	12,686
Production & Automation Technologies \| AUSTRALIA
Disaggregation of Revenue [Line Items]
Total revenue	41,233	30,702	33,967
Production & Automation Technologies \| Asia-Pacific
Disaggregation of Revenue [Line Items]
Total revenue	5,549	9,727	7,176
Production & Automation Technologies \| Other
Disaggregation of Revenue [Line Items]
Total revenue	511	816	637
Production & Automation Technologies \| Reporting segments
Disaggregation of Revenue [Line Items]
Total revenue	615,918	884,364	932,591
Drilling Technologies \| UNITED STATES
Disaggregation of Revenue [Line Items]
Total revenue	82,812	181,721	227,751
Drilling Technologies \| Middle East & Africa
Disaggregation of Revenue [Line Items]
Total revenue	1,146
Drilling Technologies \| Middle East [Member]
Disaggregation of Revenue [Line Items]
Total revenue		1,013	201
Drilling Technologies \| Latin America [Member]
Disaggregation of Revenue [Line Items]
Total revenue	22	19	109
Drilling Technologies \| Canada
Disaggregation of Revenue [Line Items]
Total revenue	9,029	17,667	19,560
Drilling Technologies \| Europe [Member]
Disaggregation of Revenue [Line Items]
Total revenue	11,840	32,213	25,983
Drilling Technologies \| AUSTRALIA
Disaggregation of Revenue [Line Items]
Total revenue	110	139	9
Drilling Technologies \| Asia-Pacific
Disaggregation of Revenue [Line Items]
Total revenue	9,141	12,975	10,430
Drilling Technologies \| Other
Disaggregation of Revenue [Line Items]
Total revenue	2,086	1,140	1,522
Drilling Technologies \| Reporting segments
Disaggregation of Revenue [Line Items]
Total revenue	116,186	246,887	285,565
Reservoir Chemical Technologies \| UNITED STATES
Disaggregation of Revenue [Line Items]
Total revenue	31,907	0	0
Reservoir Chemical Technologies \| Middle East & Africa
Disaggregation of Revenue [Line Items]
Total revenue	14,292
Reservoir Chemical Technologies \| Middle East [Member]
Disaggregation of Revenue [Line Items]
Total revenue		0	0
Reservoir Chemical Technologies \| Latin America [Member]
Disaggregation of Revenue [Line Items]
Total revenue	4,283	0	0
Reservoir Chemical Technologies \| Canada
Disaggregation of Revenue [Line Items]
Total revenue	1,414	0	0
Reservoir Chemical Technologies \| Europe [Member]
Disaggregation of Revenue [Line Items]
Total revenue	1,990	0	0
Reservoir Chemical Technologies \| AUSTRALIA
Disaggregation of Revenue [Line Items]
Total revenue	274	0	0
Reservoir Chemical Technologies \| Asia-Pacific
Disaggregation of Revenue [Line Items]
Total revenue	2,267	0	0
Reservoir Chemical Technologies \| Other
Disaggregation of Revenue [Line Items]
Total revenue	5,080	0	0
Reservoir Chemical Technologies \| Reporting segments
Disaggregation of Revenue [Line Items]
Total revenue	$ 61,507	$ 0	$ 0

Revenue - Contract Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Contract assets	$ 0	$ 285	$ 4,571
Contract liabilities - current	$ 16,668	$ 6,148	$ 5,863

Property, Plant and Equipment - PPE (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,349,026	$ 674,903
Accumulated depreciation	(494,490)	(426,722)
Property, plant and equipment, net	854,536	248,181
Land and land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	140,209	14,419
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	316,529	106,993
Software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	37,638	15,323
Machinery, equipment, and other
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 854,650	$ 538,168

Property, Plant and Equipment - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation	$ 142,647	$ 68,557	$ 72,569

Goodwill and Intangible Assets - Narrative (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Jun. 03, 2020 USD ($)
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets		$ 70,900	$ 51,400	$ 51,900
Goodwill impairment	$ 616,300	616,271	0	0
Long-lived asset impairment	41,000	40,980	1,746	$ 990
Impairment of non-taxable goodwill, amount impacting the effective tax rate	560,100
Legacy ChampionX
Finite-Lived Intangible Assets [Line Items]
Identifiable intangible assets recognized					$ 349,000
Other Acquisitions
Finite-Lived Intangible Assets [Line Items]
Identifiable intangible assets recognized			$ 6,700
Favorable supply agreements \| Legacy ChampionX
Finite-Lived Intangible Assets [Line Items]
Identifiable intangible assets recognized					$ 59,000
Production & Automation Technologies
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment		$ 616,271
Production & Automation Technologies \| Artificial Lift [Member]
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
Artificial Lift [Member] \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets (excluding goodwill)	40,400
Artificial Lift [Member] \| Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets (excluding goodwill)	$ 600
Discount Rate \| Artificial Lift [Member]
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

Goodwill and Intangible Assets - Intangible Assets and Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 891,441	$ 656,037
Finite-Lived Intangible Assets, Accumulated Amortization	416,032	420,930
Finite-Lived Intangible Assets, Net, Total	475,409	235,107
Intangible assets, gross	895,041	659,637
Intangible assets, net	479,009	238,707
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	3,600	3,600
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	593,068	560,316
Finite-Lived Intangible Assets, Accumulated Amortization	321,298	353,189
Finite-Lived Intangible Assets, Net, Total	271,770	207,127
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	59,881	35,695
Finite-Lived Intangible Assets, Accumulated Amortization	27,565	24,830
Finite-Lived Intangible Assets, Net, Total	32,316	10,865
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	38,635	38,436
Finite-Lived Intangible Assets, Accumulated Amortization	29,289	26,838
Finite-Lived Intangible Assets, Net, Total	9,346	11,598
Unpatented Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	133,700	13,700
Finite-Lived Intangible Assets, Accumulated Amortization	19,958	9,811
Finite-Lived Intangible Assets, Net, Total	113,742	3,889
Favorable supply agreements
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	59,000	0
Finite-Lived Intangible Assets, Accumulated Amortization	11,308	0
Finite-Lived Intangible Assets, Net, Total	47,692	0
Drawings and Manuals [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	1,783	2,558
Finite-Lived Intangible Assets, Accumulated Amortization	1,783	1,758
Finite-Lived Intangible Assets, Net, Total	0	800
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	5,374	5,332
Finite-Lived Intangible Assets, Accumulated Amortization	4,831	4,504
Finite-Lived Intangible Assets, Net, Total	$ 543	$ 828

Goodwill and Intangible Assets - Amortization Expense (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 87,698
2022	86,181
2023	60,855
2024	47,506
2025	$ 36,396

Goodwill and Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Roll Forward]
Goodwill, beginning of period	$ 911,113	$ 911,113	$ 904,985
Acquisition		386,686	5,510
Foreign currency translation		(934)	618
Impairment	(616,300)	(616,271)	0	$ 0
Goodwill, end of period		680,594	911,113	904,985
Production Chemical Technologies
Goodwill [Roll Forward]
Goodwill, beginning of period	0	0	0
Acquisition		349,821	0
Foreign currency translation		1,236	0
Impairment		0
Goodwill, end of period		351,057	0	0
Production & Automation Technologies
Goodwill [Roll Forward]
Goodwill, beginning of period	809,977	809,977	803,849
Acquisition		0	5,510
Foreign currency translation		(2,169)	618
Impairment		(616,271)
Goodwill, end of period		191,537	809,977	803,849
Drilling Technologies
Goodwill [Roll Forward]
Goodwill, beginning of period	101,136	101,136	101,136
Acquisition		0	0
Foreign currency translation		0	0
Impairment		0
Goodwill, end of period		101,136	101,136	101,136
Reservoir Chemical Technologies
Goodwill [Roll Forward]
Goodwill, beginning of period	$ 0	0	0
Acquisition		36,865	0
Foreign currency translation		(1)	0
Impairment		0
Goodwill, end of period		$ 36,864	$ 0	$ 0

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total	$ 940,616	$ 565,000
Net unamortized discounts and issuance costs	(8,002)	(9,709)
Total long-term debt	932,614	555,291
Current portion of long-term debt	(26,850)	0
Long-term debt	905,764	555,291
Credit Facility
Debt Instrument [Line Items]
Total	0	0
Term Loan Facility \| 2018 Term Loan Facility
Debt Instrument [Line Items]
Total	140,000	265,000
Term Loan Facility \| 2020 Term Loan Facility
Debt Instrument [Line Items]
Total	$ 523,575	0
Senior Notes \| 6.375% Senior Notes due 2026
Debt Instrument [Line Items]
Debt interest rate	6.375%
Total	$ 277,041	$ 300,000

Debt - Narrative (Details)					3 Months Ended	7 Months Ended	12 Months Ended
Debt - Narrative (Details)	Jun. 03, 2020 USD ($)	Feb. 14, 2020 USD ($)	May 09, 2018 USD ($)	May 03, 2018 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Debt Instrument [Line Items]
Proceeds from long-term debt							$ 125,000,000	$ 36,500,000	$ 713,963,000
2018 Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 150,000,000.0
Weighted average interest rate					4.00%	4.00%	4.00%
2018 Term Loan Facility
Debt Instrument [Line Items]
Weighted average interest rate					3.18%	3.18%	3.18%
2020 Term Loan Facility
Debt Instrument [Line Items]
Payments to fund merger	$ 527,400,000
Weighted average interest rate					6.02%	6.02%	6.02%
Amortization payments	6,700,000
6.375% Senior Notes due 2026
Debt Instrument [Line Items]
Cash payment to Dover				$ 700,000,000.0
Mandatory prepayments, percent of net cash proceeds			100.00%
Aggregate principal amount repurchased					$ 23,000,000.0	$ 23,000,000.0	$ 23,000,000.0
Debt repurchased, cash portion					23,400,000
Debt repurchased, accrued interest					200,000
Loss on repurchase of debt					$ 900,000
Senior Notes \| 6.375% Senior Notes due 2026
Debt Instrument [Line Items]
Principal amount of debt issued				300,000,000.0
Debt interest rate					6.375%	6.375%	6.375%
Proceeds from long-term debt				$ 293,800,000
Term Loan Facility \| Credit Agreement
Debt Instrument [Line Items]
Debt instrument, term			7 years
Term Loan Facility \| 2018 Credit Facility
Debt Instrument [Line Items]
Principal amount of debt issued		$ 537,000,000.0
Term Loan Facility \| 2018 Term Loan Facility
Debt Instrument [Line Items]
Principal amount of debt issued			$ 415,000,000.0
Proceeds from issuance of debt			$ 408,700,000
Mandatory amortization payment, percent per annum			1.00%
Mandatory prepayments, percent of net cash proceeds			100.00%
Mandatory prepayments, percent of net cash proceeds, step down one			75.00%
Mandatory prepayments, percent of net cash proceeds, step down two			50.00%
Mandatory prepayment in excess of cash flow			50.00%
Mandatory prepayment in excess of cash flow, step down one			25.00%
Mandatory prepayment in excess of cash flow, step down two			0.00%
Term Loan Facility \| 2020 Term Loan Facility
Debt Instrument [Line Items]
Principal amount of debt issued	$ 537,000,000.0
Term Loan Facility \| 2020 Term Loan Facility \| Eurocurrency Marginal Rate
Debt Instrument [Line Items]
Basis spread on variable rate	5.00%
Term Loan Facility \| 2020 Term Loan Facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Term Loan Facility \| 2020 Term Loan Facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Term Loan Facility \| 2020 Term Loan Facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	4.00%
Term Loan Facility \| 2020 Term Loan Facility \| Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate						0.50%
Revolving Credit Facility \| Credit Agreement
Debt Instrument [Line Items]
Debt instrument, term			5 years
Revolving Credit Facility \| 2018 Credit Facility
Debt Instrument [Line Items]
Debt instrument, term		5 years
Maximum borrowing capacity		$ 400,000,000.0
Letters of credit \| 2018 Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 100,000,000.0
JP Morgan Chase Bank, N.A. \| Credit Agreement
Debt Instrument [Line Items]
Minimum interest coverage ratio			2.50
Fiscal Quarter Ending March 31, 2021 \| JP Morgan Chase Bank, N.A. \| Credit Agreement
Debt Instrument [Line Items]
Maximum total leverage ratio			4.00
After Fiscal Quarter Ending March 31, 2021 \| JP Morgan Chase Bank, N.A. \| Credit Agreement
Debt Instrument [Line Items]
Maximum total leverage ratio			3.75

Debt - Aggregate Contractual Future Principal Payments (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Debt Disclosure [Abstract]
2021	$ 26,850
2022	0
2023	0
2024	0
2025	140,000
Thereafter	773,766
Total	$ 940,616

Commitments and Contingencies - Narrative (Details) kg in Millions, $ in Millions	1 Months Ended	12 Months Ended
	Apr. 30, 2020 USD ($)	Dec. 31, 2020 USD ($) location kg	Dec. 31, 2019 USD ($)
Loss Contingencies [Line Items]
Outstanding letters of credit		$ 88.8	$ 15.7
Minimum number of kilograms required to be purchased (in kilograms) \| kg		13.7
Purchase commitment term		10 years
Minimum purchase commitment		$ 23.3
Notice period		2 years
Number of locations \| location		11
Accrued liabilities for remediation		$ 9.2
Ecolab
Loss Contingencies [Line Items]
Payments made under supply agreements		$ 25.0
Interest rate under supply agreement		4.00%
Discounts to be paid under supply agreement		$ 30.0
Fair value of expected future cash flows		$ 14.9
Oklahoma Department of Environmental Quality
Loss Contingencies [Line Items]
Accrued liabilities for remediation			2.0
Indemnification Agreement
Loss Contingencies [Line Items]
Indemnification accrual			$ 3.4
Indemnification expense	$ 3.0

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Lease revenue	$ 54.0	$ 44.7
Equipment Leased Assets
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 67.6	$ 37.1
Minimum
Property, Plant and Equipment [Line Items]
Lessor, term of leases	6 months
Maximum
Property, Plant and Equipment [Line Items]
Lessor, term of leases	9 months

Leases - Schedule of Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Finance lease, right-of-use asset	$ 7,337	$ 9,406
Operating lease right-of-use assets	122,481	24,289
Total right-of-use assets	129,818	33,695
Finance lease, liability, current	4,326	4,845
Finance Lease, Liability, Noncurrent	4,188	4,530
Current portion of operating lease liabilities	33,234	7,620
Operating lease liabilities	83,553	19,419
Total lease liability	$ 125,301	$ 36,414
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization	us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent

Leases - Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Lease Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Finance lease cost, amortization of right-of-use assets	$ 5,266	$ 5,200
Finance lease cost, interest on lease liabilities	567	439
Operating lease cost	31,850	11,191
Short-term and variable lease cost	12,917	5,045
Sublease income	(3,584)	(463)
Total lease cost	$ 47,016	$ 21,412
Operating lease, weighted-average remaining lease term	6 years 3 months 18 days	4 years 7 months 6 days
Finance lease, weighted-average remaining lease term	2 years 8 months 12 days	2 years 1 month 6 days
Operating lease, weighted-average discount rate	6.70%	6.70%
Finance lease, weighted-average discount rate	6.00%	5.30%

Leases - Schedule of Future Minimum Payments (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Operating
2021	$ 40,594
2022	34,933
2023	21,994
2024	16,510
2025	5,745
Thereafter	24,877
Total future minimum lease payments	144,653
Interest included within lease payments	(27,866)
Total lease liabilities	116,787
Finance
2021	4,727
2022	2,354
2023	973
2024	676
2025	443
Thereafter	529
Total future minimum lease payments	9,702
Interest included within lease payments	(1,188)
Total lease liabilities	$ 8,514

Leases - Lease Assets (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Lease Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	$ 1,349,026	$ 674,903
Accumulated depreciation	(494,490)	(426,722)
Property, plant and equipment, net	854,536	$ 248,181
Equipment Leased Assets
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	174,874
Accumulated depreciation	(110,299)
Property, plant and equipment, net	$ 64,575
Cable Equipment
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)	18 months
Property, plant, and equipment	$ 48,755
Downhole Equipment
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)	18 months
Property, plant, and equipment	$ 35,174
Surface Equipment
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)	5 years
Property, plant, and equipment	$ 69,172
Other Lease Equipment
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	$ 21,773
Minimum \| Other Lease Equipment
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)	3 years
Maximum \| Other Lease Equipment
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)	5 years

Restructuring - Schedule of Restructuring and Other Related Charges (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 23,291	$ 5,177	$ 5,632
Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	13,955	3,592	4,693
Selling, General and Administrative Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	9,336	1,585	939
Production Chemical Technologies
Restructuring Cost and Reserve [Line Items]
Restructuring charges	5,241	0	0
Production & Automation Technologies
Restructuring Cost and Reserve [Line Items]
Restructuring charges	11,814	4,467	5,632
Drilling Technologies
Restructuring Cost and Reserve [Line Items]
Restructuring charges	5,521	710	0
Reservoir Chemical Technologies
Restructuring Cost and Reserve [Line Items]
Restructuring charges	348	0	0
Corporate and other
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 367	$ 0	$ 0

Restructuring - Restructuring Reserve Rollforward (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Restructuring and Related Activities [Abstract]
Beginning balance	$ 130
Restructuring charges	15,630
Payments	(19,004)
Liabilities assumed in the Merger	6,208
Other, including foreign currency translation	(13)
Ending balance	$ 2,951

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Retirement Benefits [Abstract]
Net actuarial gain (loss) arising during period	$ (5,526)	$ (2,521)	$ 856
Liability, defined benefit plan	24,900	15,100
Defined benefit plan, net periodic benefit expense	$ 3,200	$ 2,000	$ 1,700

Equity and Cash Incentive Programs - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved and authorized for issuance (in shares)	18,200,000
Compensation costs	$ 15,058	$ 8,097	$ 4,234
Options, replacement awards (in dollars per share)	$ 6.02
Unrecognized compensation costs related to options	$ 1,600
Weighted average period of recognition, options (in years)	10 months 24 days
Total intrinsic value of stock options exercised	$ 1,000
Stock options exercised	888
Tax benefit from stock options exercised	200
Legacy ChampionX
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation costs	$ 15,800
Performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	121,261	46,459	86,817
Unrecognized compensation expense not yet exercisable	$ 3,500
Weighted average period (in years)	1 year 6 months
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Expiration period	10 years
Unrecognized compensation expense not yet exercisable	$ 0
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	655,584
Unrecognized compensation expense not yet exercisable	$ 18,900
Weighted average period (in years)	1 year 3 months 18 days
Minimum \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Maximum \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Market Vesting Conditions \| Performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Performance Vesting Conditions \| Performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	0	46,460	0

Equity and Cash Incentive Programs - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement [Abstract]
Stock-based compensation expense	$ 19,536	$ 10,250	$ 5,375
Tax benefit	(4,478)	(2,153)	(1,141)
Stock-based compensation expense, net of tax	$ 15,058	$ 8,097	$ 4,234

Equity and Cash Incentive Programs - Summary of Activity Relating to SARs Outstanding (Details) - Stock Appreciation Rights (SARs) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Number of shares outstanding, beginning of the period (in shares) \| shares	422,361
Forfeited / expired (in shares) \| shares	(7,030)
Exercised (in shares) \| shares	0
Number of shares outstanding, end of the period (in shares) \| shares	415,331
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Weighted average exercise price outstanding, beginning of the period (in dollars per share) \| $ / shares	$ 29.75
Forfeited / expired (in dollars per share) \| $ / shares	34.13
Exercised (in dollars per share) \| $ / shares	0
Weighted average exercise price outstanding, end of the period (in dollars per share) \| $ / shares	$ 29.67
Weighted average remaining contractual term, outstanding (years)	5 years 1 month 6 days
Aggregate intrinsic value \| $	$ 0
Number of shares, exercisable (in shares) \| shares	415,331
Weighted average exercise price exercisable (in dollars per share) \| $ / shares	$ 29.67
Weighted average remaining contractual term, exercisable (in years)	5 years 1 month 6 days
Aggregate intrinsic value, exercisable \| $	$ 0

Equity and Cash Incentive Programs - Other Information Regarding the Exercise of SARs (Details) - Stock Appreciation Rights (SARs) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of SARs that became exercisable	$ 878	$ 662	$ 310
Aggregate intrinsic value of SARs exercised	$ 0	$ 629	$ 40

Equity and Cash Incentive Programs - Fair Value and Average Attainment Used in Determining Compensation Cost of the Performance Shares (Details) - Performance shares - $ / shares	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Market Vesting Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value at date of grant (in dollars per share)	$ 14.55	$ 57.43	$ 56.32
Performance Vesting Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value at date of grant (in dollars per share)	$ 0	$ 40.22
Share Based Compensation Arrangement by Share Based Payment Award Attainment of Target Granted Percentage	0.00%	100.00%

Equity and Cash Incentive Programs - Summary of Activity for Performance Share Awards (Details) - Performance shares - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Shares
Number of shares outstanding, beginning of the period (in shares)	174,726
Granted (in shares)	121,261	46,459	86,817
Forfeited (in shares)	(5,011)
Vested (in shares)	(12,213)
Number of shares outstanding, end of the period (in shares)	278,763	174,726
Weighted-Average Grant-Date Fair Value
Weighted average grant-date fair value, outstanding beginning of the period (in dollars per share)	$ 52.44
Granted (in dollars per share)	14.55
Forfeited (in dollars per share)	52.60
Vested (in dollars per share)	52.51
Weighted average grant-date fair value, outstanding end of the period (in dollars per share)	$ 35.95	$ 52.44

Equity and Cash Incentive Programs - Summary of Activity for Restricted Stock Units (Details) - Restricted Stock Units (RSUs)	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Shares
Number of shares outstanding, beginning of the period (in shares) \| shares	440,048
Granted (in shares) \| shares	655,584
Replacement awards (in shares) \| shares	2,357,733
Forfeited (in shares) \| shares	(29,272)
Vested (in shares) \| shares	(754,314)
Number of shares outstanding, end of the period (in shares) \| shares	2,669,779
Weighted-Average Grant-Date Fair Value
Weighted average grant-date fair value, outstanding beginning of the period (in dollars per share) \| $ / shares	$ 41.07
Granted (in dollars per share) \| $ / shares	14.13
Replacement awards (in dollars per share) \| $ / shares	10.34
Forfeited (in dollars per share) \| $ / shares	31.61
Vested (in dollars per share) \| $ / shares	17.64
Weighted average grant-date fair value, outstanding end of the period (in dollars per share) \| $ / shares	$ 14.04

Equity and Cash Incentive Programs - Non-Qualified Stock Options (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) $ / shares shares
Number of shares
Options outstanding, balance at the beginning of the period (in shares) \| shares	0
Options granted (in shares) \| shares	0
Options, replacement awards (in shares) \| shares	7,324,853
Options forfeited/expired (in shares) \| shares	(14,381)
Options exercised (in shares) \| shares	(135,432)
Options outstanding, balance at the end of the period (in shares) \| shares	7,175,040
Weighted Average Exercise Price
Options outstanding, balance at the beginning of the period (in dollars per share) \| $ / shares	$ 0
Options granted (in dollars per share) \| $ / shares	0
Options, replacement awards (in dollars per share) \| $ / shares	6.02
Options forfeited/expired (in dollars per share) \| $ / shares	7.20
Options exercised (in dollars per share) \| $ / shares	6.56
Options outstanding, balance at the end of the period (in dollars per share) \| $ / shares	$ 6.01
Weighted-average remaining contractual term, outstanding at end of period	5 years 3 months 18 days
Aggregate intrinsic value, at end of period \| $	$ 65,431
Options exercisable (in shares) \| shares	6,534,024
Options exercisable, weighted-average exercise price (in dollars per share) \| $ / shares	$ 5.85
Options exercisable, weighted average remaining contractual term (in years)	5 years 1 month 6 days
Aggregate intrinsic value, options \| $	$ 60,571

Stockholders' Equity - Capital Stock Activity (Details) - shares shares in Thousands		12 Months Ended
	May 09, 2018	Dec. 31, 2020	Dec. 31, 2019
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)		77,500
Issuance of common stock (in shares)	77,300
Ending balance (in shares)		200,400	77,500
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)		77,460	77,353
Issuance of common stock (in shares)		122,237
Shares issued—share-based compensation (in shares)		683	107
Ending balance (in shares)		200,380	77,460

Stockholders' Equity - Narrative (Details) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Equity [Abstract]
Preferred stock authorized (in shares)	250,000,000	250,000,000
Preferred stock, par value (dollars per share)	$ 0.01	$ 0.01

Stockholders' Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,036,214	$ 975,983	$ 1,635,509
Other comprehensive income (loss)	13,282	(1,131)	(12,754)
Ending balance	1,612,575	1,036,214	975,983
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(35,210)	(36,146)
Other comprehensive income (loss) before reclassifications, net of tax	20,245	936
Reclassification adjustment for net losses included in net income, net of tax	0	0
Other comprehensive income (loss)	20,245	936
Ending balance	(14,965)	(35,210)	(36,146)
Defined Pension and Other Post-Retirement Benefits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(8,827)	(6,760)
Other comprehensive income (loss) before reclassifications, net of tax	(5,504)	(2,711)
Reclassification adjustment for net losses included in net income, net of tax	861	644
Other comprehensive income (loss)	(4,643)	(2,067)
Ending balance	(13,470)	(8,827)	(6,760)
Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	0	0
Other comprehensive income (loss) before reclassifications, net of tax	(2,320)	0
Reclassification adjustment for net losses included in net income, net of tax	0	0
Other comprehensive income (loss)	(2,320)	0
Ending balance	(2,320)	0	0
Accum. Other Comp. Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(44,037)	(42,906)	(26,416)
Other comprehensive income (loss) before reclassifications, net of tax	12,421	(1,775)
Reclassification adjustment for net losses included in net income, net of tax	861	644
Other comprehensive income (loss)	13,282	(1,131)	(12,754)
Ending balance	$ (30,755)	$ (44,037)	$ (42,906)

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

+ References

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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Stockholders' Equity - Reclassifications from Accumulated Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expense, net	$ (828)	$ 2,603	$ 3,056
Income before income taxes	762,749	(59,186)	(121,353)
Provision for (benefit from) income taxes	(20,396)	6,226	28,162
Net income (loss)	742,353	(52,960)	(93,191)
Amortization of actuarial loss and net transition obligation \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expense, net	492	364	330
Amortization of prior service cost \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expense, net	0	2	1
Settlement loss \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expense, net	698	508	479
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]
Income before income taxes	1,190	874	810
Provision for (benefit from) income taxes	(329)	(230)	(210)
Net income (loss)	$ 861	$ 644	$ 600

Earnings Per Share - Narrative (Details) - shares shares in Millions			12 Months Ended
	Jun. 03, 2020	May 09, 2018	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Issuance of common stock - Merger (in shares)		77.3
Potentially diluted securities excluded as anti-dilutive (in shares)			0.4	0.2
Legacy ChampionX
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of shares issued (in shares)	122.2

Earnings Per Share - Reconciliation of the Shares Used in EPS Calculation (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Earnings Per Share [Abstract]

Net income (loss) attributable to ChampionX

$ (743,930)

$ 52,164

$ 92,737

Weighted-average number of shares outstanding (in shares)

^[1]

148,370

77,427

77,342

Dilutive effect of stock-based compensation (in shares)

197

350

Total shares and dilutive securities (in shares)

^[1]

148,370

77,624

77,692

Basic earnings (loss) per share attributable to ChampionX (in dollars per share)

^[1]

$ (5.01)

$ 0.67

$ 1.20

Diluted earnings (loss) per share attributable to ChampionX (in dollars per share)

^[1]

$ (5.01)

$ 0.67

$ 1.19

[1]	See Note 15—Earnings Per Share.

- Definition

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

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- 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.

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- Definition

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

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+ Details

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		$ 4,576
Derivative liabilities		6,561
Goodwill impairment	$ 616,300	616,271	$ 0	$ 0
Long-lived asset impairment	$ 41,000	$ 40,980	1,746	$ 990
Term Loan Facility \| 2018 Term Loan Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount			265,000
Term Loan Facility \| 2020 Term Loan Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount			0
Senior Notes \| 6.375% Senior Notes due 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying amount			300,000
Debt interest rate		6.375%
Foreign currency forward contracts \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		$ 4,576
Derivative liabilities		6,561
Level 1 \| Senior Notes \| 6.375% Senior Notes due 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value		277,054	316,710
Level 1 \| Foreign currency forward contracts \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		0
Derivative liabilities		0
Level 2 \| Term Loan Facility \| 2018 Term Loan Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value		137,200	266,161
Level 2 \| Term Loan Facility \| 2020 Term Loan Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value		530,120	$ 0
Level 2 \| Foreign currency forward contracts \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		4,576
Derivative liabilities		6,561
Level 3 \| Foreign currency forward contracts \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		0
Derivative liabilities		$ 0

Derivatives and Hedging Transactions - Schedule of Fair Value of Derivative Instruments (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Derivative Asset [Abstract]
Derivative assets	$ 4,576
Derivative Liability [Abstract]
Derivative liabilities	6,561
Prepaid expenses and other current assets
Derivative Asset [Abstract]
Derivative assets	4,576
Accrued expenses and other current liabilities
Derivative Liability [Abstract]
Derivative liabilities	$ 6,561

Derivatives and Hedging Transactions - Schedule of Derivative Instruments (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Foreign currency forward contracts
Derivative [Line Items]
Notional value of foreign currency forward contracts	$ 483,377

Derivatives and Hedging Transactions - Schedule of Gain (Loss) on Derivative Instruments (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2020 USD ($)
Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total loss of derivative instruments	$ 863
Cost of Sales [Member] \| Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total loss of derivative instruments	171
Other (income) expense, net \| Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total loss of derivative instruments	$ 692

Income Taxes - Components of Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Domestic	$ (811,995)	$ 51,073	$ 104,234
Foreign	49,246	8,113	17,119
Income (loss) before income taxes	$ (762,749)	$ 59,186	$ 121,353

Income Taxes - Provision for (Benefit From) Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
U.S. federal	$ 1,578	$ 15,327	$ 24,221
State and local	1,579	1,196	1,598
Foreign	20,264	4,264	4,362
Total current	23,421	20,787	30,181
Deferred:
U.S. federal	(32,454)	(12,815)	(2,255)
State and local	(6,738)	(1,156)	2,735
Foreign	(4,625)	(590)	(2,499)
Total deferred	(43,817)	(14,561)	(2,019)
Provision for (benefit from) income taxes	$ (20,396)	$ 6,226	$ 28,162

Income Taxes - Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Statutory U.S. federal income tax rate	21.00%	21.00%	21.00%
State and local taxes, net of federal income tax benefit	0.50%	3.20%	3.40%
Foreign withholding tax	(1.20%)	1.80%	0.30%
Foreign derived intangible income	0.00%	(0.80%)	(1.90%)
Foreign operations tax effect	(0.40%)	0.00%	0.30%
Research and experimentation tax credits	0.40%	(1.20%)	(0.60%)
Foreign tax credit	0.00%	(8.00%)	(1.50%)
Nondeductible expenses	(0.60%)	2.50%	0.70%
Branch income	(0.70%)	0.60%	0.00%
Tax return to accrual adjustments	0.10%	(9.40%)	0.00%
State deferred taxes	0.20%	(7.90%)	0.00%
Goodwill Impairment	(15.50%)	0.00%
Foreign Inclusions (Including Global intangible low-taxed income)	(0.70%)	0.00%	2.30%
Transaction Costs	(0.60%)	0.00%	0.00%
Change in valuation allowance	(0.50%)	9.00%	0.00%
Other	0.70%	(0.30%)	(0.80%)
Effective income tax rate	2.70%	10.50%	23.20%

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets attributable to:
Accrued compensation	$ 13,437	$ 8,725
Accrued expenses	3,950	455
Net operating loss and other carryforwards	25,879	5,937
Inventories	0	1,380
Accounts receivable	19,930	1,699
Lease liability	17,180	5,649
Long-term liabilities	1,470	529
Other assets	2,110	1,202
Deferred tax assets	83,956	25,576
Valuation allowance	(26,786)	(6,027)
Deferred tax assets, net of valuation allowance	57,170	19,549
Deferred tax liabilities attributable to:
Inventories	(2,124)	0
Intangible assets, including goodwill	(80,634)	(66,736)
Property, plant and equipment	(73,507)	(31,240)
Foreign withholding taxes	(15,673)	0
Lease asset	(18,293)	(5,633)
Investment in Subsidiary	(10,189)	0
Deferred tax liabilities	(200,420)	(103,609)
Net deferred tax liabilities	(143,250)	(84,060)
Other non-current assets	13,033	0
Deferred income taxes	$ (156,283)	$ (84,060)

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Effective income tax rate		2.70%	10.50%	23.20%
Impairment of non-taxable goodwill, amount impacting the effective tax rate	$ 560,100
Net operating loss carryforwards, domestic		$ 2,200
Net operating loss carryforwards, foreign		17,300
Foreign tax credit carryforwards		4,200
Valuation allowance		26,786	$ 6,027
Unrecognized tax benefits		868	0
Interest and penalties accrued		0
Accrued foreign withholding taxes on undistributed foreign earnings		$ 15,673	$ 0

Income Taxes - Unrecognized Tax Benefits (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits, beginning of the period	$ 0
Additional based on tax positions related to prior years	868
Unrecognized tax benefits, end of the period	$ 868

Related Party Transactions - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related Party Transaction [Line Items]
Related party transaction, selling, general and administrative expenses from transactions with related party			$ 7,400
Payments of ordinary dividends, noncontrolling interest	$ 2,175	$ 0	2,720
Proceeds from sale of inventory to related parties	$ 4,000
Non- controlling Interest
Related Party Transaction [Line Items]
Related party transaction, commission rate	5.00%
Royalty Agreements
Related Party Transaction [Line Items]
Related party transaction, expenses from transactions with related party			$ 2,300

Cash Flow Information - Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Cash paid for income taxes	$ 27,191	$ 18,179	$ 26,464
Cash paid for interest	$ 21,899	$ 39,746	$ 36,085

Cash Flow Information - Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Cash required by operating leases	$ 30,256	$ 12,026
Finance leases - interest	550	439
Finance leases - principal	5,139	5,555	$ 4,518
Operating lease additions	37,631	38,225
Finance lease additions	$ 4,017	$ 6,412

Cash Flow Information - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Inventory transferred into property, plant, and equipment	$ 15,300	$ 75,700	$ 97,000
Gain on disposition of business	0	(2,475)	1,286
Equipment Leased Assets
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Expenditures for assets expected to be placed in lease asset program	$ 20,800	$ 16,000	$ 26,700

Schedule II - Valuation and Qualifying Accounts - Allowance for Doubtful Accounts (Details) - Allowance for Doubtful Accounts - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of year	$ 8,072	$ 4,745	$ 4,753
Charged to Cost and Expense	3,644	4,955	2,007
Accounts Written Off	(3,230)	(1,447)	(1,489)
Other	1,706	(181)	(526)
Balance at end of year	$ 10,192	$ 8,072	$ 4,745

Schedule II - Valuation and Qualifying Accounts - Deferred Tax Valuation Allowance (Details) - Deferred Tax Valuation Allowance - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of year	$ 6,027	$ 722	$ 1,280
Additions	21,101	5,556	331
Reductions	(342)	(251)	(889)
Other	0	0	0
Balance at end of year	$ 26,786	$ 6,027	$ 722