0001723089-23-000011 | 10-K | XBRL Viewer

Print Document View Excel Document

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2022	Jan. 26, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
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			$ 4,011,836,515
Entity Common Stock, Shares Outstanding		198,636,846
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement relating to its 2023 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	2022
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2022
Audit Information [Abstract]
Auditor Name	PricewaterhouseCoopers LLP
Auditor Firm ID	238
Auditor Location	Houston, Texas

CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue:
Lease and other revenue	$ 87,727	$ 75,720	$ 58,443
Total revenue	3,805,948	3,074,990	1,899,996
Cost of goods and services	2,907,284	2,331,715	1,490,824
Gross profit	898,664	743,275	409,172
Costs and expenses:
Selling, general and administrative expense	592,282	570,357	463,767
Goodwill impairment	39,617	0	616,271
Long-lived asset impairments and (gain) loss on disposal groups	(18,493)	38,131	(40,980)
Interest expense, net	45,204	51,921	51,731
Other expense (income), net	6,262	6,443	(828)
Income (loss) before income taxes	196,806	152,685	(762,749)
Provision for (benefit from) income taxes	40,243	38,445	(20,396)
Net income (loss)	156,563	114,240	(742,353)
Net income attributable to noncontrolling interest	1,594	941	1,577
Net income (loss) attributable to ChampionX	$ 154,969	$ 113,299	$ (743,930)
Earnings (losses) per share attributable to ChampionX:
Basic (in dollars per share)	$ 0.77	$ 0.56	$ (5.01)
Diluted (in dollars per share)	$ 0.75	$ 0.54	$ (5.01)
Weighted-average shares outstanding:
Basic (in shares)	201,740	201,579	148,370
Diluted (in shares)	207,259	208,325	148,370
Product revenue
Revenue:
Product and service revenue	$ 3,318,357	$ 2,656,184	$ 1,623,464
Service revenue
Revenue:
Product and service revenue	$ 399,864	$ 343,086	$ 218,089

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 156,563	$ 114,240	$ (742,353)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(18,592)	(4,465)	20,245
Cash flow hedges	7,558	3,601	(2,320)
Pension and other post-retirement benefit plans	3,129	9,994	(4,643)
Other comprehensive income (loss), net of tax	(7,905)	9,130	13,282
Comprehensive income (loss)	148,658	123,370	(729,071)
Comprehensive income attributable to noncontrolling interest	1,594	941	1,577
Comprehensive income (loss) attributable to ChampionX	$ 147,064	$ 122,429	$ (730,648)

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 250,187	$ 251,678
Restricted cash	0	3,500
Receivables, net	601,061	584,440
Inventories, net	542,543	542,910
Assets held for sale	29,334	7,217
Prepaid expenses and other current assets	75,456	71,155
Total current assets	1,498,581	1,460,900
Property, plant and equipment, net	734,810	776,813
Goodwill	679,488	702,867
Intangible assets, net	305,010	401,470
Operating lease right-of-use assets	92,928	115,458
Other non-current assets	76,666	77,193
Total assets	3,387,483	3,534,701
Current Liabilities:
Current portion of long-term debt	6,250	26,850
Accounts payable	469,566	473,561
Accrued compensation and employee benefits	102,750	93,131
Current portion of operating lease liabilities	28,838	36,389
Accrued distributor fees	102,034	25,621
Liabilities held for sale	7,186	0
Accrued expenses and other current liabilities	142,352	146,773
Total current liabilities	858,976	802,325
Long-term debt	621,702	697,657
Deferred income taxes	94,235	137,971
Operating lease liabilities	59,686	73,521
Other long-term liabilities	75,669	68,920
Total liabilities	1,710,268	1,780,394
Stockholders’ equity:
Common stock (2.5 billion shares authorized, $0.01 par value) 198.5 million shares and 202.9 million shares issued and outstanding at December 31, 2022 and 2021, respectively	1,985	2,029
Capital in excess of par value of common stock	2,249,698	2,315,399
Accumulated deficit	(527,603)	(525,158)
Accumulated other comprehensive loss	(29,530)	(21,625)
ChampionX stockholders’ equity	1,694,550	1,770,645
Noncontrolling interest	(17,335)	(16,338)
Total equity	1,677,215	1,754,307
Total liabilities and equity	$ 3,387,483	$ 3,534,701

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
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)	198,500,000	202,900,000
Common stock, shares outstanding (in shares)	198,500,000	202,900,000

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash provided by (used for) operating activities:
Net income (loss)	$ 156,563	$ 114,240	$ (742,353)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	241,880	237,285	214,362
(Gain) loss on disposal groups	16,515	(38,131)	0
Loss on goodwill and long-lived asset impairments	39,617	0	657,251
Stock-based compensation	20,089	23,178	19,536
Provision for inventory obsolescence and write-downs	26,336	4,968	23,841
Loss on debt extinguishment and modification	4,043	11,098	0
Deferred income tax expense (benefit)	(45,282)	(20,552)	(41,998)
Loss (gain) on disposal of fixed assets	(1,683)	(2,240)	8,037
Amortization of deferred loan costs and accretion of discount	3,751	3,543	3,799
Employee benefit plan expense	2,503	2,605	3,054
Provision (recovery) of bad debt	(1,310)	(2,018)	3,523
Other	695	510	3,306
Changes in operating assets and liabilities:
Receivables	(23,988)	(28,736)	58,210
Inventories	(52,426)	(124,154)	85,893
Prepaid expenses and other current assets	1,265	(2,342)	17,539
Accounts payable	(13,366)	171,398	(18,389)
Accrued compensation and employee benefits	8,735	20,920	9,669
Accrued expenses and other liabilities	57,801	(40,844)	6,674
Leased assets	(25,275)	(5,151)	(4,606)
Other	(3,103)	2,642	2,692
Net cash provided by operating activities	413,360	328,219	310,040
Cash provided by (used for) investing activities:
Capital expenditures	(102,808)	(84,464)	(45,163)
Proceeds from disposal of business	0	66,786	0
Proceeds from sale of fixed assets	18,017	5,236	9,705
Acquisitions, net of cash acquired	(3,198)	(20,095)	57,588
Purchase of investments	0	(4,874)	0
Net cash provided by (used for) investing activities	(87,989)	(37,411)	22,130
Cash provided by (used for) financing activities:
Proceeds from long-term debt	995,038	0	125,000
Repayment of long-term debt	(1,092,950)	(223,413)	(286,493)
Payment of debt issuance costs	(8,008)	0	(4,356)
Dividends paid	(45,594)	0	0
Repurchases of common stock	(180,142)	0	0
Proceeds from exercise of stock options	10,132	8,819	886
Payments related to taxes withheld on stock-based compensation	(11,964)	(9,777)	(3,089)
Distribution to noncontrolling interest	(3,016)	(3,718)	(2,175)
Payment of finance lease obligations	(6,540)	(6,258)	(5,139)
Proceeds expected to be remitted under the Accounts Receivable Facility	18,239	0	0
Net cash used for financing activities	(324,805)	(234,347)	(175,366)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(5,557)	(2,704)	9,327
Net increase (decrease) in cash and cash equivalents and restricted cash	(4,991)	53,757	166,131
Cash and cash equivalents and restricted cash at beginning of period	255,178	201,421	35,290
Cash and cash equivalents and restricted cash at end of period	$ 250,187	$ 255,178	$ 201,421

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)	Accum. Other Comp. Loss	Non- controlling Interest	Cumulative effect of accounting changes	Cumulative effect of accounting changes Retained Earnings (Accum. Deficit)
Beginning balance (in shares) at Dec. 31, 2019		77,460,000
Beginning balance at Dec. 31, 2019	$ 1,036,214	$ 775	$ 969,174	$ 107,048	$ (44,037)	$ 3,254	$ (1,575)	$ (1,575)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock related to the Merger (in shares)		122,237,000
Issuance of common stock related to the Merger	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)
Net income (loss)	(742,353)			(743,930)		1,577
Other comprehensive income (loss)	13,282				13,282
Stock-based compensation (in shares)		548,000
Stock-based compensation	19,540	$ 4	19,536
Stock options exercised (in shares)		135,000
Stock options exercised	888	$ 2	886
Taxes withheld on issuance of stock-based awards	(3,089)		(3,089)
Distributions declared and paid to noncontrolling interest	(2,175)					(2,175)
Ending balance (in shares) at Dec. 31, 2020		200,380,000
Ending balance at Dec. 31, 2020	1,612,575	$ 2,004	2,293,179	(638,457)	(30,755)	(13,396)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	114,240			113,299		941
Other comprehensive income (loss)	9,130				9,130
Stock-based compensation (in shares)		840,000
Stock-based compensation	23,187	$ 9	23,178
Stock options exercised (in shares)		1,646,000
Stock options exercised	8,835	$ 16	8,819
Taxes withheld on issuance of stock-based awards	(9,777)		(9,777)
Distributions declared and paid to noncontrolling interest	(3,718)					(3,718)
Currency translation adjustments	$ (165)					(165)
Ending balance (in shares) at Dec. 31, 2021	202,900,000	202,866,000
Ending balance at Dec. 31, 2021	$ 1,754,307	$ 2,029	2,315,399	(525,158)	(21,625)	(16,338)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	156,563			154,969		1,594
Other comprehensive income (loss)	(7,905)				(7,905)
Stock-based compensation (in shares)		933,000
Stock-based compensation	$ 20,089	$ 10	20,079
Stock options exercised (in shares)	1,748,137	1,748,000
Stock options exercised	$ 10,149	$ 17	10,132
Taxes withheld on issuance of stock-based awards	(11,964)		(11,964)
Dividends declared to common stockholders ($0.30 per share)	$ (61,291)			(61,291)
Repurchase and cancellation of common stock (in shares)	(7,080,781)	(7,081,000)
Repurchase and cancellation of common stock	$ (180,142)	$ (71)	(83,948)	(96,123)
Distributions declared and paid to noncontrolling interest	(3,016)					(3,016)
Currency translation adjustments	$ 425					425
Ending balance (in shares) at Dec. 31, 2022	198,500,000	198,466,000
Ending balance at Dec. 31, 2022	$ 1,677,215	$ 1,985	$ 2,249,698	$ (527,603)	$ (29,530)	$ (17,335)

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (Parenthetical) - $ / shares		12 Months Ended
	Nov. 10, 2022	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared to common shareholders (in dollars per share)	$ 0.075	$ 0.30

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Description of the Business

ChampionX Corporation is a global leader in chemistry solutions, artificial lift systems, and highly engineered equipment and technologies that help companies drill for and produce oil and gas safely, efficiently, and sustainably around the world. Our expertise, innovative products, and digital technologies provide enhanced oil and gas production, transportation, and real-time emissions monitoring throughout the lifecycle of a well.

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 June 3, 2020, the Company and Ecolab Inc. (“Ecolab”) completed a Reverse Morris Trust transaction in which we acquired the Chemical Technologies business (the “Merger”). At the completion of the Merger, the Company changed its name from Apergy Corporation (“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.

As a result of the Merger, the results of operations of the Chemical Technologies business have been reflected in our accompanying consolidated financial statements from the closing date of the Merger. Results for the periods prior to June 3, 2020 reflect the financial and operating results of Apergy. See Note 3—Merger Transaction, Acquisitions, and Divestitures for additional information on the Merger, and Note 4—Segment Information for additional information on our reporting segments and the Chemical Technologies business.

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—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 through the application of 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, net—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, 2022 and 2021, approximately 28% and 33%, respectively, of our total net inventories were accounted for using the last-in, first-out (LIFO) basis. 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:


	December 31,
(in thousands)	2022		2021
Raw materials	$	142,571	$	186,516
Work in progress	19,582		13,615
Finished goods	467,628		421,702
	629,781		621,833
Inventory reserve	(24,702)		(24,646)
LIFO adjustments (1)	(62,536)		(54,277)
Inventories, net	$	542,543	$	542,910

_______________________

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

Inventories were reduced during 2022, resulting in a liquidation, or partial liquidation, of previous LIFO inventory layers that were carried at a lower cost, as compared with current costs in the current year (“LIFO decrement”). For the year ended December 31, 2022, the effect of this LIFO decrement decreased cost of goods sold by $5.6 million compared to the amounts that would have been recognized under a FIFO basis.

Property, plant and equipment, net—Property, plant and equipment is recorded at cost, or fair value for those assets acquired in a business combination. Depreciation is applied 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 (income), 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 to the extent 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 intangible assets, net—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 initially assess goodwill for impairment based on qualitative factors to determine whether it is necessary to perform a goodwill impairment test. When performing the quantitative assessment, we estimate fair value of our reporting units using an income approach. Our income-based valuation method determines the present value of estimated future cash flows to estimate the fair value of a reporting unit, which requires the use of significant unobservable inputs, and represents a Level 3 fair value measurement. Significant assumptions used in estimating our reporting unit fair values include discount rate, revenue growth rates, future operating margins, future capital expenditures, changes in working capital requirements and terminal growth rates. 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 to the extent 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 two intangible assets with an indefinite life which are tested annually for impairment.

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

Revenue Recognition—Revenue is recognized upon 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 may require delivery, installation, testing, or other acceptance provisions to be satisfied before revenue is recognized. Service revenue is recognized as the services are performed.

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. No material variable consideration has been identified within our contracts.

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 selling 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 components related to our lease arrangements, such as installation, monitoring and field service support, are 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 apply utilizing a portfolio approach. We utilize 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 is 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, but are not material to the financial statements. 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 $45.1 million, $46.5 million, and $31.2 million for the years ended December 31, 2022, 2021, and 2020, respectively, and are included in selling, general and administrative expense in the consolidated statements of income (loss).

Income Taxes—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 $16.9 million of foreign withholding taxes on our undistributed foreign earnings from jurisdictions which impose such taxes.

The Global Intangible Low-Taxed Income (“GILTI”) provisions of the Tax Reform Act 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.

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 and reported within other non-current assets in our consolidated balance sheets. ChampionX’s share of the after-tax earnings of equity method investees is included within other expense (income), net in our consolidated statements of income (loss).

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 in an orderly transaction between market participants at the reporting date (an exit price). In the absence of active markets for the identical assets or liabilities, such measurements involve developing assumptions based on market observable data and, in the absence of such data, internal information that is consistent with what market participants would use in a hypothetical transaction that occurs at the measurement date.

Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. Preference is given to observable inputs. These two types of inputs create the following fair value hierarchy:

•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 also utilizes floating-to-fixed interest rate swap agreements as cash flow hedges on certain debt, to mitigate interest rate risk. 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 (income), 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, 2022
Accounting Changes and Error Corrections [Abstract]
NEW ACCOUNTING STANDARDS	NEW ACCOUNTING STANDARDS New Accounting Standards Issued In September 2022, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2022-04, “Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations”, which requires that a buyer in a supplier finance program disclose information about the key terms of the program, outstanding confirmed amounts as of the end of the period, a rollforward of such amounts during each annual period, and a description of where in the financial statements outstanding amounts are presented. The ASU does not affect the recognition, measurement or financial statement presentation of obligations covered by supplier finance programs. The guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023, with early adoption permitted. The adoption of this ASU will not have a material effect on our consolidated financial statements. Accounting Standards Adopted 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-URI https://asc.fasb.org/topic&trid=2122394

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 105
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126987489&loc=SL124442142-165695

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
-URI https://asc.fasb.org/extlink&oid=126986314&loc=SL124402458-218513

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (d)(2)
-URI https://asc.fasb.org/extlink&oid=126986314&loc=SL124402458-218513

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 11.M.Q2)
-URI https://asc.fasb.org/extlink&oid=122038215&loc=d3e31137-122693

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(2)
-URI https://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 848
-SubTopic 10
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=125980421&loc=SL122150809-237846

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(2)
-URI https://asc.fasb.org/extlink&oid=126983759&loc=SL121830611-158277

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section S99
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=122038215&loc=SL108384541-122693

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 10
-Section 65
-Paragraph 5
-Subparagraph (f)(1)
-URI https://asc.fasb.org/extlink&oid=128293352&loc=SL126838806-209984

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (e)(2)
-URI https://asc.fasb.org/extlink&oid=126983955&loc=SL121967933-165497

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (c)(2)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL126732908-238011

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 10
-Section 65
-Paragraph 5
-Subparagraph (f)(3)
-URI https://asc.fasb.org/extlink&oid=128293352&loc=SL126838806-209984

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (c)(1)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL126732908-238011

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=126983955&loc=SL121967933-165497

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(1)
-URI https://asc.fasb.org/extlink&oid=126983759&loc=SL121830611-158277

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (c)(3)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL126732908-238011

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-URI https://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-URI https://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 926
-SubTopic 20
-Section 65
-Paragraph 2
-Subparagraph (f)(3)
-URI https://asc.fasb.org/extlink&oid=120154821&loc=SL120154904-197079

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (e)(3)
-URI https://asc.fasb.org/extlink&oid=126983955&loc=SL121967933-165497

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 848
-SubTopic 10
-Section 65
-Paragraph 2
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=125980421&loc=SL125981372-237846

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)(1)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (e)(3)
-URI https://asc.fasb.org/extlink&oid=126983759&loc=SL121830611-158277

+ Details

MERGER TRANSACTION, ACQUISITIONS, AND DIVESTITURES

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

MERGER TRANSACTION, ACQUISITIONS, AND DIVESTITURES

Merger Transaction

On June 3, 2020, we completed the acquisition of the Chemical Technologies business. 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 Chemical Technologies. The total fair value of consideration transferred was $1.3 billion. The purchase price was allocated to the assets and liabilities of the Chemical Technologies business at fair value and we recorded $386.7 million in goodwill associated with the transaction.

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 in 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.

Pro forma financial information

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).


(in thousands)	Year Ended December 31, 2020
Revenues	$	2,775,027
Net income (loss) attributable to ChampionX	(777,553)

Included in the net income (loss) attributable to ChampionX on a pro forma basis were goodwill and long-lived asset impairment charges of $805.0 million during 2020.

Acquisitions

Leak Surveys

On February 23, 2022, we acquired the assets of Leak Surveys, a leader in optical gas imaging technology that provides aerial and ground-based emissions leak detection to the oil and gas industry. Our operations from the acquired assets are included in our Production & Automation Technologies segment. Under the terms of the agreement, we paid an initial amount of $3.2 million, net of cash acquired, with an additional $0.5 million payable on the first anniversary of the closing date. We may also be required to make future payments of up to an additional $2.5 million, contingent on the future performance of the business. As part of our purchase price allocation, we recorded goodwill of $6.3 million. The pro forma effect of this acquisition on revenue and net income has been determined to be immaterial to our financial statements.

Tomson Technologies LLC and Group 2 LLC

On December 8, 2021, we acquired Tomson Technologies LLC and Group 2 Technologies LLC, leaders in nano technology platforms with proven commercial applications helping energy companies lower the carbon footprint and operating expenses of their oil and gas production operations. Under the terms of the agreement, we paid an initial amount of $10.1 million, net of cash acquired. We may also be required to make future payments of up to an additional $13.0 million, contingent on the future performance of the business. As part of our purchase price allocation, we recorded contingent consideration of $3.7 million, goodwill of $2.5 million, and intangible assets of $10.2 million. The pro forma effect of this acquisition on revenue and net income has been determined to be immaterial to our financial statements.

Scientific Aviation

On July 2, 2021, we acquired Scientific Aviation, Inc. (“Scientific”), a provider of site-specific and regional methane emissions monitoring solutions for continuous and periodic monitoring applications. Scientific has been included in our Production & Automation Technologies segment. Under the terms of the agreement, we paid an initial amount of $10.0 million, net of cash acquired. We may also be required to make future payments of up to an additional $10.0 million, contingent on the future performance of Scientific. As part of our purchase price allocation, we recorded contingent consideration of $5.5 million and goodwill of $13.9 million. The pro forma effect of this acquisition on revenue and net income has been determined to be immaterial to our financial statements.

Divestitures

Russia

Given the continued economic pressure and sanctions imposed by the United States, European Union, and United Kingdom, we have initiated a plan to dispose of our operations in Russia (the “CT Russia Business”), which is included in our Production Chemical Technologies segment. As a result, the CT Russia Business met the criteria to be classified as held for sale as of June 30, 2022, which required us to present the related assets and liabilities as separate line items in our consolidated balance sheet. We recorded an initial charge of $22.9 million during the second quarter of 2022, in order to properly reflect the carrying value of the disposal group at the lower of its carrying value or fair value less any costs to sell. The loss on disposal group did not include write downs of individual assets, rather was recognized as a valuation allowance against the disposal group as a whole. The loss is reflected in long-lived asset impairment on the consolidated statement of income (loss).

We assess the fair value of a long-lived asset or disposal group (less any costs to sell) each reporting period that it remains classified as held for sale and report any subsequent changes as an adjustment to the carrying value of the asset or disposal group, as long as the new carrying value does not exceed the carrying value of the asset at the time it was initially classified as held for sale. Subsequent to the initial charge, we recognized a gain of $6.4 million for the three months ended September 30, 2022, to properly reflect the carrying value of the disposal group at the lower of its carrying value or fair value less any costs to sell, which was also recognized in long-lived asset impairments and (gain) loss on disposal groups on the consolidated statement of income (loss). No material adjustments were identified during the three months ended December 31, 2022. Upon the ultimate disposition, we will recognize the cumulative translation adjustment balance associated with the CT Russia Business in our consolidated statement of income as part of the gain or loss on the sale.

The following table presents information related to the major classes of assets and liabilities that were held for sale in our consolidated balance sheet:


	CT Russia Business
(in thousands)	December 31, 2022
Receivables	$	7,168
Inventory	5,801
Prepaid expenses and other current assets	6,838
Property, plant, and equipment	3,683
Goodwill	2,695
Intangible assets	5,500
Operating lease right-of-use assets	1,504
Other long-term assets	2,993
Loss on disposal group	(16,515)
Total assets held for sale	$	19,667
Accounts payable	$	1,846
Other current liabilities	2,491
Other noncurrent liabilities	2,849
Total liabilities held for sale	$	7,186

Other

We have certain other assets, primarily property, plant and equipment, that aggregate to $9.7 million held for sale as of December 31, 2022 that are reflected in our consolidated balance sheet.

The Corsicana Plant

On September 7, 2021, we sold the U.S.-based assets associated with our chemical manufacturing plant in Corsicana, Texas (the “Corsicana Plant”) for a total purchase price of $70.0 million, subject to certain closing costs, pursuant to an Asset Purchase Agreement. The sale constituted an asset sale for accounting purposes.

Upon closing of the transaction, we received $68.8 million in cash, including $3.5 million to be held in escrow for one year to cover post-closing indemnification obligations and is included in restricted cash on our consolidated balance sheet as of December 31, 2021. Proceeds from the sale were used to pay down debt and make further progress toward our long-term leverage target. As of December 31, 2022, the escrow account has been settled.

Pursuant to the Asset Purchase Agreement, we sold all of our property, plant and equipment as well as all other assets necessary to operate the Corsicana Plant. Total assets sold primarily consisted of $23.6 million in property, plant and equipment, $2.2 million in inventory, and $1.8 million in spare parts. We recognized a net gain of $38.1 million, which is included in other (income) expense, net in our consolidated statements of income (loss) for the year ended December 31, 2021 and reflected in our Reservoir Chemical Technologies segment.

SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

SEGMENT INFORMATION

Our reporting 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 and asset monitoring technologies. 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.

We refer to our Production Chemical Technologies segment and our Reservoir Chemical Technologies segment collectively as our Chemical Technologies business. Although Reservoir Chemical Technologies is not required to be disclosed separately as a reportable segment, based on materiality, management believes the additional information may contribute to a better understanding of the business. Other 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)	2022		2021		2020
Segment revenue:
Production Chemical Technologies	$	2,347,526	$	1,842,400	$	992,805
Production & Automation Technologies	954,646		762,371		615,918
Drilling Technologies	229,479		172,066		116,186
Reservoir Chemical Technologies	145,197		141,095		61,507
Corporate and other (1)	129,100		157,058		113,580
Total revenue	$	3,805,948	$	3,074,990	$	1,899,996

Income (loss) before income taxes:
Segment operating profit (loss):
Production Chemical Technologies	$	239,936	$	165,463	$	94,294
Production & Automation Technologies	89,133		45,635		(697,937)
Drilling Technologies	54,512		30,409		2,574
Reservoir Chemical Technologies	(90,212)		30,311		(6,198)
Total segment operating profit (loss)	293,369		271,818		(607,267)
Corporate and other (1)	51,359		67,212		103,751
Interest expense, net	45,204		51,921		51,731
Income (loss) before income taxes	$	196,806	$	152,685	$	(762,749)

____________________

(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 Divestitures for further information.

Geographic information


	December 31,
(in thousands)	2022		2021
Property, plant, and equipment, net:
United States	$	481,908	$	492,766
Singapore	89,015		100,259
Canada	70,132		77,501
Other Countries	93,755		106,287
Total property, plant, and equipment, net	$	734,810	$	776,813

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)	2022		2021		2020
Chemical Technologies (1)	$	41,782	$	38,915	$	10,498
Production & Automation Technologies	56,363		40,137		32,100
Drilling Technologies	3,732		2,826		1,736
Corporate and other	931		2,586		829
Total	$	102,808	$	84,464	$	45,163

(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)	2022		2021		2020
Production Chemical Technologies	$	91,875	$	98,049	$	58,328
Production & Automation Technologies	103,592		101,575		130,725
Drilling Technologies	6,639		7,295		7,940
Reservoir Chemical Technologies	14,662		10,295		5,741
Corporate and other	25,112		20,071		11,628
Total	$	241,880	$	237,285	$	214,362

- 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
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126901519&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 26
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI https://asc.fasb.org/topic&trid=2134510

+ Details

REVENUE

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

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, emissions detection and monitoring, and other field services. Lease revenue is derived from rental income of leased production equipment. 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). Additionally, amounts owed to distributors and sales agents are reported within accrued distributor fees within our consolidated balance sheets.

Revenue disaggregated by geography was as follows:


	Year Ended December 31, 2022
(in thousands)	Production Chemical Technologies		Production & Automation Technologies		Drilling Technologies		Reservoir Chemical Technologies		Corporate and other (1)		Total
United States	$	851,057	$	738,178	$	180,912	$	88,108	$	76,461	$	1,934,716
Latin America	594,737		21,756		7		13,887		3,100		633,487
Middle East & Africa	307,154		66,918		6,628		26,876		2,314		409,890
Canada	296,623		73,561		14,529		1,933		116		386,762
Europe	194,034		13,655		20,911		3,439		13,936		245,975
Asia-Pacific	35,536		6,170		6,434		3,115		33,173		84,428
Australia	21,866		34,318		33		299		—		56,516
Other	46,519		90		25		7,540		—		54,174
Total revenue	$	2,347,526	$	954,646	$	229,479	$	145,197	$	129,100	$	3,805,948


	Year Ended December 31, 2021
(in thousands)	Production Chemical Technologies		Production & Automation Technologies		Drilling Technologies		Reservoir Chemical Technologies		Corporate and other (1)		Total
United States	$	653,826	$	583,010	$	136,351	$	88,313	$	105,855	$	1,567,355
Latin America	364,386		18,454		—		15,220		4,741		402,801
Middle East & Africa	268,096		53,995		5,408		22,140		8,896		358,535
Canada	263,887		58,927		13,474		2,739		342		339,369
Europe	180,269		6,088		11,810		4,315		11,617		214,099
Asia-Pacific	43,593		7,229		3,358		4,585		25,607		84,372
Australia	28,388		34,451		130		135		—		63,104
Other	39,955		217		1,535		3,648		—		45,355
Total revenue	$	1,842,400	$	762,371	$	172,066	$	141,095	$	157,058	$	3,074,990


	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
Latin America	202,177		21,679		22		4,283		3,650		231,811
Middle East & Africa	164,480		45,026		1,146		14,292		15,254		240,198
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
Asia-Pacific	28,023		5,549		9,141		2,267		9,041		54,021
Australia	13,225		41,233		110		274		—		54,842
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 Divestitures for further information.

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

Some 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 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.

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 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 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 ESP leased asset program, when stipulated in the contract, equipment damaged in operation is 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.

Remaining performance obligations

As of December 31, 2022, 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)	2022		2021
Contract assets	$	—	$	—
Contract liabilities	14,113		15,246

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 https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

PROPERTY, PLANT, AND EQUIPMENT

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT, AND EQUIPMENT

Property, plant and equipment consisted of the following:


	December 31,
(in thousands)	2022		2021
Land and land improvements	$	125,531	$	134,913
Buildings and improvements	308,278		309,821
Software	55,400		44,295
Machinery, equipment and other	938,827		906,651
	1,428,036		1,395,680
Accumulated depreciation	(693,226)		(618,867)
Property, plant and equipment, net	$	734,810	$	776,813

Depreciation expense was $154.6 million, $149.8 million, and $142.6 million for the years ended December 31, 2022, 2021, and 2020, respectively.

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

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, 2020	$	351,057	$	191,537	$	101,136	$	36,864	$	680,594
Acquisition (1)	2,500		13,893		—		—		16,393

Foreign currency translation	3,081		37		—		2,762		5,880
December 31, 2021	356,638		205,467		101,136		39,626		702,867
Acquisition (1)	—		6,345		—		—		6,345
Allocated to disposal group (2)	(2,695)		—		—		—		(2,695)
Impairment	—		—		—		(39,617)		(39,617)
Foreign currency translation	13,141		(544)		—		(9)		12,588
December 31, 2022	$	367,084	$	211,268	$	101,136	$	—	$	679,488

_______________________

(1) See Note 3—Merger Transaction, Acquisitions, and Divestitures for additional information related to the acquisitions completed during July 2021, December 2021, and February 2022.

(2) See Note 3—Merger Transaction, Acquisitions, and Divestitures for additional information on the reclassification of assets and liabilities held for sale related to our Russia CT Business.

As part of our annual goodwill impairment analysis, on October 1, we performed a quantitative goodwill impairment analysis for each of our reporting units. As part of our forecasted operating plan that takes place during the fourth quarter of 2022, we adjusted the future projected cash flows from our Reservoir Chemical Technologies reporting unit given our market focus and relative size of the business within our portfolio. We determined that the fair values were less than the respective carrying values for our Reservoir Chemical Technologies reporting unit. As a result, we recorded a goodwill impairment charge totaling $39.6 million to write off the remaining goodwill within that reporting unit. There were no negative conditions, or triggering events, that occurred prior to our annual goodwill impairment analysis requiring us to perform an impairment review. The entire goodwill impairment charge is non-taxable and was recognized in determining our effective tax rate for the period.

Intangible Assets

During 2021, we recorded $10.2 million of acquired intangible assets as part of the Tomson Technologies LLC and Group 2 Technologies LLC acquisition. See Note 3—Merger Transaction, Acquisitions, and Divestitures, for additional information.

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


	December 31, 2022						December 31, 2021
(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)	$	582,466	$	407,212	$	175,254	$	593,242	$	365,773	$	227,469
Unpatented technologies	142,760		56,264		86,496		142,540		37,264		105,276
Favorable supply agreements (2)	57,000		49,056		7,944		59,000		30,546		28,454
Trademarks	59,856		36,048		23,808		59,873		32,270		27,603
Patents	38,175		31,481		6,694		38,735		31,080		7,655
Other	5,274		5,260		14		5,390		5,177		213
	885,531		585,321		300,210		898,780		502,110		396,670
Indefinite-lived intangible assets:
Trademarks	3,600		—		3,600		3,600		—		3,600
In-process research and development	1,200		—		1,200		1,200		—		1,200
	4,800		—		4,800		4,800		—		4,800
Total	$	890,331	$	585,321	$	305,010	$	903,580	$	502,110	$	401,470

_______________________

(1) During 2022, we reclassified $5.5 million of net intangible assets related to our Russia CT Business within our Production Chemical Technologies segment to assets held for sale. See Note 3—Merger Transaction, Acquisitions, and Divestitures for further information.

(2) During 2022, we wrote off the remaining $1.3 million of favorable supply agreements within our Reservoir Chemical Technologies segment as part of the restructuring plan to exit certain product lines.

Amortization expense related to our intangible assets was $87.3 million, $87.4 million, and $70.9 million for the years ended December 31, 2022, 2021, and 2020, respectively. Estimated future amortization expense related to intangible assets held as of December 31, 2022, is as follows:


(in thousands)	Estimated Amortization
2023	$	61,281
2024	48,265
2025	37,196
2026	36,838
2027	25,763

DEBT

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

DEBT

Long-term debt consisted of the following:


	December 31,
(in thousands)	2022		2021
2022 Revolving Credit Facility	$	25,000	$	—
2018 Term Loan Facility	—		140,000
2020 Term Loan Facility	—		496,725
2022 Term Loan Facility	623,438		—
6.375% Senior Notes due 2026	—		92,041
Total	648,438		728,766
Net unamortized discounts and issuance costs	(20,486)		(4,259)
Total long-term debt	627,952		724,507
Current portion of long-term debt (1)	(6,250)		(26,850)
Long-term debt, less current portion	$	621,702	$	697,657

_______________________

(1) Includes the mandatory amortization payments due within twelve months related to the 2022 Term Loan Facility as of December 31, 2022 and the 2020 Term Loan Facility as of December 31, 2021.

2022 Credit Facility

On May 9, 2018, we entered into a credit agreement (the “Credit Agreement”) governing the terms of, among other things, a seven-year senior secured term loan B facility that had an initial commitment of $415.0 million (the “2018 Term Loan Facility”), and on June 3, 2020, ChampionX Holding Inc. entered into a term loan facility for $537.0 million (the “2020 Term Loan Facility”).

On June 7, 2022, we entered into a restated credit agreement (the “Restated Credit Agreement”), which amends and restates the Credit Agreement. The Restated Credit Agreement provides for (i) a $625.0 million seven-year senior secured term loan B facility (the “2022 Term Loan Facility”) and (ii) a five-year senior secured revolving credit facility in an aggregate principal amount of $700.0 million, of which $100.0 million is available for the issuance of letters of credit (the “2022 Revolving Credit Facility,” together with the 2022 Term Loan Facility, the “Senior Secured Credit Facility”). The full amount of the 2022 Term Loan Facility was funded, and $135.0 million of the 2022 Revolving Credit Facility was drawn, on June 7, 2022, with the aggregate proceeds used to repay outstanding amounts under our Credit Agreement, repay and terminate our 2020 Term Loan Facility, and to redeem all outstanding 6.375% Senior Notes due 2026 (the “Notes”). Proceeds from future borrowings under the 2022 Revolving Credit Facility are expected to be used for working capital and general corporate purposes. The initial amount drawn on the 2022 Revolving Credit Facility has been repaid. As of December 31, 2022, we had $25.0 million outstanding on the 2022 Revolving Credit Facility.

2022 Term Loan Facility

The 2022 Term Loan Facility matures June 7, 2029 and the 2022 Revolving Credit Facility matures June 7, 2027. The 2022 Term Loan Facility is subject to mandatory amortization payments of 1% per annum of the initial commitment paid quarterly, which began on December 30, 2022. The Senior Secured Credit Facility contains customary representations and warranties, covenants, and events of default for loan facilities of this type. We were in compliance with all covenants as of December 31, 2022.

At the Company’s election, outstanding borrowings under the Senior Secured Credit Facility will accrue interest at a per annum rate of (i) an adjusted SOFR rate plus the applicable spread or (ii) a base rate plus the applicable spread. On June 29, 2022, the Company executed a five-year amortizing floating-to-fixed interest rate swap to hedge our exposure to increases in variable interest rates on the 2022 Term Loan Facility. This interest rate swap agreement is based on a $300.0 million notional amount for the first three years, reducing to $150.0 million for years four and five. See Note 16—Fair Value Measurements and Note 17—Derivatives and Hedging Transactions for additional information on interest rate swaps.

2020 Term Loan Facility

The 2020 Term Loan Facility was entered into on June 3, 2020, and had an initial commitment of $537.0 million. Proceeds were utilized to fund a cash payment of $527.4 million to Ecolab upon the completion of the Merger. The remaining balance was repaid June 7, 2022.

2018 Term Loan Facility

The 2018 Term Loan Facility had an initial commitment of $415.0 million, which was funded on May 9, 2018. The remaining balance was repaid on June 7, 2022.

Senior Notes

On May 3, 2018, we completed the offering of $300.0 million in aggregate principal amount of Notes. All remaining Notes were redeemed June 7, 2022.

Redemptions and Repurchase

In connection with the Restated Credit Agreement, as noted above, we completed the redemption of all of the remaining Notes at 103.188% of the principal amount thereof during 2022. We redeemed $92.0 million in aggregate principal amount of the Notes for $95.6 million in cash, including $0.6 million in accrued interest. In connection with these redemptions, we recognized a net loss of approximately $3.9 million for 2022, inclusive of the write off of the remaining unamortized debt financing costs related to the Notes, which is included in other expense (income), net in our consolidated statements of income (loss).

During 2021, the Company completed the redemption of certain of the Company’s 6.375% Senior Notes at 104.781% of the principal amount thereof. We repurchased $185.0 million in aggregate principal amount of the Senior Notes for $196.6 million in cash, including $2.7 million in accrued interest. In connection with these redemptions, we recognized a net loss of approximately $11.1 million for the year ended December 31, 2021, inclusive of the write off of unamortized debt financing costs related to the extinguished portion of the Senior Notes, which is included in other expense (income), net in our consolidated statements of income (loss).

As of December 31, 2022, aggregate contractual future principal payments on long-term debt are as follows:


(in thousands)	Principal Payments(1)
2023	$	6,250
2024	6,250
2025	6,250
2026	6,250
2027	31,250
Thereafter	592,188
Total	$	648,438

_______________________

(1) Principal payments included relate to our 2022 Term Loan Facility. See Note 10—Leases for future payments related to finance lease obligations.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: 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(c))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2022
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 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 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 relating to the Merger (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 2018 Credit Facility, 2018 Term Loan Facility, or 2020 Term Loan Facility and (iv) reasonable costs and expenses (including reasonable attorneys’ fees and expenses) related to the foregoing. As of December 31, 2022 and December 31, 2021, we had $82.4 million and $80.2 million, respectively, of outstanding letters of credit, surety bonds and guarantees, which expire at various dates through 2039. 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, surety bonds, and guarantees in the event of default in the performance of our obligations, the probability of which we believe is remote. Supply Agreements Vendor Supply Agreement We acquired a Vendor Supply Agreement from Ecolab as part of the Merger discussed in Note 3—Merger Transaction, Acquisitions, and Divestitures. Ecolab made payments in the aggregate of $25.0 million and the Company assumed the receivable for the repayment of this loan. The loan receivable 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, 2022 and December 31, 2021, was $14.6 million and $14.1 million, respectively, and included in other non-current assets on our consolidated balance sheets. Litigation and Environmental Matters The Company is party to various proceedings and claims incidental to its business, including matters arising under provisions relating to the protection of the environment. 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. While many of these matters involve inherent uncertainty, we believe that the amount of the liability, if any, ultimately incurred with respect to these proceedings and claims 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, 2022 and December 31, 2021, environmental liability accruals related to these locations were $5.9 million and $6.8 million, respectively. Prior to our separation as an independent publicly traded company in 2018, 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, 2022. 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™ 9500, 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 remains one “B3” case that had asserted claims against the COREXIT Defendants and that remains pending against other defendants. Because the Court’s decision was not a “final judgment” for purposes of appeal with respect to those claims, under Federal Rule of Appellate Procedure 4(a), plaintiff will have 30 days after entry of final judgment in the case to appeal the Court’s summary judgment decision. 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, 2022

Leases [Abstract]

LEASES

Lessee Accounting

We have operating and finance leases for real estate, vehicles, and equipment. Certain of our vehicle leases include residual value guarantees, which have been excluded from the measurement of our lease liabilities as we do not believe it is probable 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	2022		2021
Right-of Use Assets:
Finance leases	Property, plant, and equipment, net	$	17,435	$	8,048
Operating leases	Operating lease right-of-use assets	92,928		115,458
Total lease right-of-use assets		110,363		123,506
Lease Liabilities:
Finance leases - current	Accrued expenses and other current liabilities	$	5,983	$	4,006
Finance leases	Other long-term liabilities	11,955		4,498
Operating leases - current	Current portion of operating lease liabilities	28,838		36,389
Operating leases	Operating lease liabilities	59,686		73,521
Total lease liabilities		$	106,462	$	118,414

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


	Years Ended December 31,
(in thousands)	2022		2021
Finance lease cost:
Amortization of right-of-use assets	$	6,024	$	5,855
Interest on lease liabilities	695		510
Operating lease cost	42,365		41,113
Short-term and variable lease cost	24,291		21,756
Sublease income	—		(18)
Total lease cost	$	73,375	$	69,216

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,
	2022		2021
Weighted-average remaining lease term (years):
Operating lease	6.5		6.9
Finance lease	3.5		2.7
Weighted-average discount rate:
Operating lease	5.9	%	5.3	%
Finance lease	5.7	%	5.0	%

Maturity Analysis—Future minimum payments, as determined in accordance with ASC 842, on our operating and finance leases as of December 31, 2022 are as follows:


(in thousands)	Operating		Finance
2023	$	34,751	$	6,539
2024	26,651		5,850
2025	16,470		3,754
2026	8,534		2,050
2027	5,244		1,519
Thereafter	18,118		247
Total future minimum lease payments	109,768		19,959
Interest included within lease payments	(21,244)		(2,021)
Total lease liabilities	$	88,524	$	17,938

Lessor Accounting

Lease revenue is primarily generated from our ESP leased asset program within our Production & Automation Technologies segment. An ESP rental unit has components consisting of surface, downhole and cable equipment. The average length of these arrangements generally range from 12 months to 14 months. Lease revenue for our leased asset programs was $71.1 million and $65.4 million for the years ended December 31, 2022 and 2021, 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, 2022
Cable equipment	18 months	$	56,957
Downhole equipment	18 months	31,186
Surface equipment	5 years	87,030
Other lease equipment	3 - 5 years	12,224
		187,397
Accumulated depreciation		(115,161)
Leased assets, net		$	72,236

Depreciation expense on our leased assets was $47.2 million and $43.7 million for the year ended December 31, 2022 and 2021, respectively.

LEASES

Lessee Accounting

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


		December 31,
(in thousands)	Balance Sheet Classification	2022		2021
Right-of Use Assets:
Finance leases	Property, plant, and equipment, net	$	17,435	$	8,048
Operating leases	Operating lease right-of-use assets	92,928		115,458
Total lease right-of-use assets		110,363		123,506
Lease Liabilities:
Finance leases - current	Accrued expenses and other current liabilities	$	5,983	$	4,006
Finance leases	Other long-term liabilities	11,955		4,498
Operating leases - current	Current portion of operating lease liabilities	28,838		36,389
Operating leases	Operating lease liabilities	59,686		73,521
Total lease liabilities		$	106,462	$	118,414

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


	Years Ended December 31,
(in thousands)	2022		2021
Finance lease cost:
Amortization of right-of-use assets	$	6,024	$	5,855
Interest on lease liabilities	695		510
Operating lease cost	42,365		41,113
Short-term and variable lease cost	24,291		21,756
Sublease income	—		(18)
Total lease cost	$	73,375	$	69,216

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,
	2022		2021
Weighted-average remaining lease term (years):
Operating lease	6.5		6.9
Finance lease	3.5		2.7
Weighted-average discount rate:
Operating lease	5.9	%	5.3	%
Finance lease	5.7	%	5.0	%

Maturity Analysis—Future minimum payments, as determined in accordance with ASC 842, on our operating and finance leases as of December 31, 2022 are as follows:


(in thousands)	Operating		Finance
2023	$	34,751	$	6,539
2024	26,651		5,850
2025	16,470		3,754
2026	8,534		2,050
2027	5,244		1,519
Thereafter	18,118		247
Total future minimum lease payments	109,768		19,959
Interest included within lease payments	(21,244)		(2,021)
Total lease liabilities	$	88,524	$	17,938

Lessor Accounting

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, 2022
Cable equipment	18 months	$	56,957
Downhole equipment	18 months	31,186
Surface equipment	5 years	87,030
Other lease equipment	3 - 5 years	12,224
		187,397
Accumulated depreciation		(115,161)
Leased assets, net		$	72,236

Depreciation expense on our leased assets was $47.2 million and $43.7 million for the year ended December 31, 2022 and 2021, respectively.

RESTRUCTURING

12 Months Ended

Dec. 31, 2022

Restructuring and Related Activities [Abstract]

RESTRUCTURING

We approved various restructuring plans related to the consolidation of product lines and associated facility closures and workforce reductions during the current and prior periods. During the second quarter of 2022, the restructuring plans included the exit of one of our product lines within the Reservoir Chemical Technologies segment. The exit of this product line was completed during the third quarter of 2022 and as such, we recognized additional restructuring charges primarily related to certain contract termination costs as well as the exit of facilities. Liabilities for these contract termination costs are recognized and measured at fair value in the period in which we cease using the rights conveyed by the existing contracts. We are exploring avenues to settle our contracts related to the discontinued products in a favorable manner to the Company. As we settle such contracts, we record the adjustment to the same financial statement line item as the initial charge was taken, including a $22.9 million reduction in the liability during the fourth quarter of 2022. We expect this restructuring plan to be complete during 2023.

As a result, we recognized net charges of $68.1 million during 2022, consisting primarily of contract termination costs, employee severance and related benefits, disposals of equipment and warehouse closures, partially offset by gains realized on the sale of facilities. During 2021 and 2020, we recorded restructuring and other charges of $13.3 million and $23.3 million, respectively.

The following table presents the restructuring and other related charges by segment as classified in our consolidated statements of income (loss).


	Years Ended December 31,
(in thousands)	2022		2021		2020
Segment restructuring charges:
Production Chemical Technologies	$	13,899	$	6,508	$	5,241
Production & Automation Technologies	1,111		5,441		11,814
Drilling Technologies	—		—		5,521
Reservoir Chemical Technologies	47,692		415		348
Corporate and other	5,400		910		367
Total	$	68,102	$	13,274	$	23,291

Statements of Income (Loss) classification:
Cost of goods and services	$	47,216	$	6,554	$	13,955
Selling, general and administrative expense	20,886		6,720		9,336
Total	$	68,102	$	13,274	$	23,291

Our liability balance for restructuring and other related charges at December 31, 2022 reflects contract termination costs, employee severance and related benefits initiated during the period.

The following table details our restructuring accrual activities during the year ended December 31, 2022:


(in thousands)	Restructuring Accrual Balance
December 31, 2021	$	3,743
Restructuring charges	68,102
Asset sales and write-offs	(16,718)
Payments	(26,548)
Other, including foreign currency translation	(61)
December 31, 2022	$	28,518

EMPLOYEE BENEFIT PLANS	12 Months Ended
EMPLOYEE BENEFIT PLANS	Dec. 31, 2022
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 such plans are frozen to new participants. We recognized net actuarial gains in the amount of $2.9 million and $8.5 million during the years ended December 31, 2022 and 2021, respectively, and net actuarial losses of $5.5 million during the year ended December 31, 2020. The actuarial gains and losses are reflected in our consolidated statements of comprehensive income (loss). The net unfunded liability of the plans as of December 31, 2022 and 2021 was approximately $9.1 million and $13.9 million, respectively, and is included in other long-term liabilities within our consolidated balance sheets. The net periodic benefit expense was $1.3 million, $2.5 million, and $3.2 million for the years ended December 31, 2022, 2021, and 2020, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (o)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (p)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 70
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI https://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (q)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

EQUITY AND CASH INCENTIVE PROGRAMS

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

EQUITY AND CASH INCENTIVE PROGRAMS

Our Board of Directors adopted the 2018 Equity and Cash Incentive Plan (“2018 Plan”). 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, and in 2021 to increase the shares of common stock reserved for issuance to 31.4 million, in each case 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 Divestitures for a summary of consideration transferred. Compensation costs of $15.8 million allocated to post-combination services was recorded as stock-based compensation expense over each employees’ remaining service period of approximately two years from the Merger date.

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,
	2022		2021		2020
Stock-based compensation expense	$	20,089	$	23,178	$	19,536
Tax benefit	(4,492)		(5,257)		(4,478)
Stock-based compensation expense, net of tax	$	15,597	$	17,921	$	15,058

SARs

We did not issue SARs during 2022, 2021 or 2020. A summary of activity relating to SARs outstanding for the year ended December 31, 2022, 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, 2022	393,523	$	29.94


Forfeited / expired	(1,758)	34.13
Exercised	(105,659)	24.94
Outstanding at December 31, 2022	286,106	$	31.77	3.3	$	250

Exercisable at December 31, 2022	286,106	$	31.77	3.3	$	250

There is no unrecognized compensation expense related to SARs, as all SARs are exercisable as of December 31, 2022.

Other information regarding the exercise of SARs is presented below:


(in thousands)	2022		2021		2020
SARs:
Fair value of SARs that became exercisable	$	—	$	—	$	878
Aggregate intrinsic value of SARs exercised	634		71		—

Performance Share Awards - ChampionX

Market Vesting Conditions

We granted 173,960, 166,519, and 121,261 performance share awards subject to market vesting conditions during 2022, 2021, and 2020, 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 2022, 2021, and 2020, is as follows:


Performance shares:	2022		2021		2020
Fair value per share at date of grant	$	23.90	$	26.32	$	14.55

Performance Vesting Conditions

We granted 173,960 and 166,519 performance share awards subject to performance vesting conditions during 2022 and 2021, respectively, under the 2018 Plan. We did not grant any of this type of award in 2020. 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 2022 and 2021 are as follows:


Performance shares:	2022			2021
Fair value per share at date of grant	$	20.55		$	17.61
Average attainment rate reflected in expense	100		%	100		%

A summary of activity for ChampionX’s performance share awards under the 2018 Plan for the year ended December 31, 2022, is as follows:


	Shares	Weighted-Average Grant-Date Fair Value
Unvested at January 1, 2022	505,509	$	24.26
Granted	347,920	22.23
Forfeited	(6,022)	22.10
Vested	(72,410)	48.83

Unvested at December 31, 2022	774,997	$	21.07

Unrecognized compensation expense related to unvested performance share awards as of December 31, 2022, was $8.1 million, which will be recognized over a weighted average period of 1.7 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, 2022, is as follows:


	Shares	Weighted-Average Grant-Date Fair Value
Unvested at January 1, 2022	2,342,107	$	14.49
Granted	975,484	20.99
Forfeited	(240,094)	15.92
Vested	(1,280,277)	14.38
Unvested at December 31, 2022	1,797,220	$	18.64

Unrecognized compensation expense relating to unvested restricted stock units as of December 31, 2022, was $20.7 million, which will be recognized over a weighted average period of 1 year.

Non-Qualified Stock Options

We did not grant non-qualified stock options in 2022 or 2021. All outstanding non-qualified stock options were issued to employees of the Chemical Technologies business upon the closing of the Merger as replacement awards for options originally granted to them by Ecolab. A summary of activity for non-qualified stock options for the year ended December 31, 2022 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, 2022	5,488,653	$	6.18
Granted	—	—
Forfeited / expired	(2,859)	7.54
Exercised	(1,748,137)	5.82
Outstanding at December 31, 2022	3,737,657	$	6.35	4.2	$	84,004

Exercisable at December 31, 2022	3,737,657	$	6.35	4.2	$	84,004

We had no unrecognized compensation expense relating to unvested stock options as of December 31, 2022.

During the year ended December 31, 2022, the total intrinsic value of stock options exercised was approximately $37.1 million and cash received from stock options exercised was approximately $10.1 million. The cash tax benefit from stock options exercised during the year ended December 31, 2022 was approximately $4.2 million.

STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

Dividends

On February 4, 2022, our Board of Directors (“Board”) approved a plan to initiate a regular quarterly cash dividend of $0.075 per share on the Company’s common stock. Our most recent quarterly cash dividend of $0.075 per share was declared on November 10, 2022, and was paid on January 27, 2023 to shareholders of record on January 6, 2023. During 2022, we declared cash dividends of $0.30 per share. Subsequent dividend declarations, if any, including the amounts and timing of future dividends, are subject to approval by the Board and will depend on future business conditions, financial conditions, results of operations and other factors.

Repurchases

On March 7, 2022, the Company announced that our Board authorized the Company to repurchase up to $250 million of its common stock. On October 24, 2022, our Board increased the authorization under this program to $750 million. This program has no time limit and does not obligate the Company to acquire any particular amount of shares of its common stock. During 2022, we repurchased and cancelled 7,080,781 shares of common stock at a volume-weighted average price of $25.42 per share for a total of $180.1 million, including commissions.

Accumulated other comprehensive loss

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


(in thousands)	Foreign Currency Translation		Defined Pension and Other Post-Retirement Benefits		Cash Flow Hedges		Accumulated Other Comprehensive Income (Loss)
December 31, 2020	$	(14,965)	$	(13,470)	$	(2,320)	$	(30,755)
Other comprehensive income (loss) before reclassifications, net of tax	(4,465)		8,712		3,601		7,848
Reclassification adjustment for net losses included in net income, net of tax	—		1,282		—		1,282
Other comprehensive income (loss), net of tax	(4,465)		9,994		3,601		9,130
December 31, 2021	(19,430)		(3,476)		1,281		(21,625)
Other comprehensive income (loss) before reclassifications, net of tax	(18,592)		2,879		7,558		(8,155)
Reclassification adjustment for net losses included in net income, net of tax	—		250		—		250
Other comprehensive income (loss), net of tax	(18,592)		3,129		7,558		(7,905)
December 31, 2022	$	(38,022)	$	(347)	$	8,839	$	(29,530)

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)	2022		2021		2020
Amortization of actuarial loss and net transition obligation(1)	$	340	$	1,532	$	492	Other expense, net
Amortization of prior service cost (1)	14		77		—		Other expense, net
Settlement loss (1)	—		—		698		Other expense, net
	354		1,609		1,190		Income before income taxes
	(104)		(327)		(329)		Provision for (benefit from) income taxes
	$	250	$	1,282	$	861	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

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI https://asc.fasb.org/topic&trid=2208762

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=126973232&loc=SL123496158-112644

Reference 15: 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(e)(1))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 50
-Paragraph 6
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126731327&loc=SL126733271-114008

+ Details

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

EARNINGS PER SHARE

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 Divestitures 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)	2022		2021		2020
Net income (loss) attributable to ChampionX	$	154,969	$	113,299	$	(743,930)

Weighted-average number of shares outstanding	201,740		201,579		148,370
Dilutive effect of stock-based compensation	5,519		6,746		—
Total shares and dilutive securities	207,259		208,325		148,370

Basic earnings per share attributable to ChampionX	$	0.77	$	0.56	$	(5.01)
Diluted earnings per share attributable to ChampionX	$	0.75	$	0.54	$	(5.01)

For all periods presented, the computation of diluted earnings (losses) per share excludes awards with an anti-dilutive impact. For the years ended December 31, 2022 and 2021, the diluted shares include the dilutive impact of equity awards except for approximately 0.4 million shares and 0.4 million shares, respectively, that were excluded because their inclusion would be anti-dilutive. 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.

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

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


		Carrying Amount
	Measurement Level	December 31,
(in thousands)		2022		2021
Assets
Foreign currency forward contracts	Level 2	$	7,066	$	4,081
Interest rate swaps	Level 2	8,476		—
Total		$	15,542	$	4,081

Liabilities
Foreign currency forward contracts	Level 2	$	4,209	$	3,773
Interest rate swaps	Level 2	—		—
Total		$	4,209	$	3,773

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, and accounts payable approximate their 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 fair value of our revolving line of credit approximates carrying value due to the variable interest rates charged on the borrowings, which reprice frequently (Level 2). The carrying amount and the estimated fair value of long-term debt, including current maturities, held by the Company were:


	December 31, 2022				December 31, 2021
(in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
2022 Revolving Credit Facility	$	25,000	$	25,000	$	—	$	—
2018 Term Loan Facility	$	—	$	—	$	140,000	$	138,950
2020 Term Loan Facility	$	—	$	—	$	496,725	$	502,313
2022 Term Loan Facility	$	623,438	$	610,969	$	—	$	—
6.375% Senior Notes due 2026	$	—	$	—	$	92,041	$	95,805

Impairment of Goodwill and Long-lived Assets

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.

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, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVES AND HEDGING TRANSACTIONS

The Company uses foreign currency forward contracts to manage risks associated with foreign currency exchange rates. The Company also utilizes floating-to-fixed interest rate swap agreements as cash flow hedges on certain debt to mitigate interest rate risk. 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 evaluated the interest rate swap hedge effectiveness and determined it to be perfectly effective. We evaluate foreign currency forward contracts 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. The Company accounts for the interest rate swap agreements as a cash flow hedge, thus the effective portion of gains and losses resulting from changes in fair value are recognized in AOCI and are amortized to interest expense over the term of the respective debt. 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 and interest rate swaps. We monitor our exposure to credit risk by using major 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.


	Derivative Assets				Derivative Liabilities
	December 31,				December 31,
(in thousands)	2022		2021		2022		2021
Prepaid expenses and other current assets	$	11,911	$	4,081	$	—	$	—
Other non-current assets	3,631		—		—		—
Accrued expenses and other current liabilities	—		—		4,209		3,773
Other long-term liabilities	—		—		—		—
	$	15,542	$	4,081	$	4,209	$	3,773

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


	December 31,
(in thousands)	2022		2021
Notional value of foreign currency forward contracts and interest rate swaps	$	965,973	$	704,190

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.

Under interest rate swaps, we agree with other parties to exchange, at specified intervals, the difference between fixed-rate and floating-rate interest amounts calculated by reference to an agreed notional principal amount. Any unrealized gain or loss at the time of settlement will be reclassified to interest expense, where we record the interest expense on the associated debt.

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:


	Years Ended December 31,
(in thousands)	2022		2021		2020
Loss (gain) reclassified from AOCI to income on cash flow hedges:
Cost of goods and services	$	(1,665)	$	3,717	$	171
Interest expense	549		—		—
Loss on derivatives not designated as hedging instruments:
Other expense (income), net	7,147		3,589		692
Total loss of derivative instruments	$	6,031	$	7,306	$	863

INCOME TAXES

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

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)	2022		2021		2020
Domestic	$	58,141	$	(2,099)	$	(811,995)
Foreign	138,665		154,784		49,246
Income (loss) before income taxes	$	196,806	$	152,685	$	(762,749)

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


	Years Ended December 31,
(in thousands)	2022		2021		2020
Current:
U.S. federal	$	49,997	$	14,895	$	1,578
State and local	11,147		4,867		1,579
Foreign	24,381		40,149		20,264
Total current	85,525		59,911		23,421
Deferred:
U.S. federal	(35,207)		(24,962)		(32,454)
State and local	(4,900)		(862)		(6,738)
Foreign	(5,175)		4,358		(4,625)
Total deferred	(45,282)		(21,466)		(43,817)
Provision for (benefit from) income taxes	$	40,243	$	38,445	$	(20,396)

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,
	2022		2021		2020
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	0.6		2.1		0.5
Foreign withholding tax	5.7		8.5		(1.2)
Foreign derived intangible income	(1.0)		(0.7)		—
Foreign operations tax effect	2.8		(1.3)		(0.4)
Research and experimentation tax credits	(1.5)		(2.5)		0.4
Foreign tax credit	(4.5)		(9.9)		—
Nondeductible expenses	0.5		1.6		(0.6)
Branch income	3.5		7.6		(0.7)
Tax return to accrual adjustments	(2.1)		(7.3)		0.1
State deferred taxes	(1.0)		—		0.2
Goodwill impairment	1.8		—		(15.5)
Foreign inclusions (including global intangible low-taxed income)	3.5		6.6		(0.7)
Transaction costs	—		—		(0.6)
Change in valuation allowance	(7.3)		1.8		(0.5)
Stock compensation	(3.6)		(3.7)		—
Nondeductible officer compensation	0.8		2.1		—
Other	1.2		(0.7)		0.7
Effective income tax rate	20.4	%	25.2	%	2.7	%

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


	December 31,
(in thousands)	2022		2021
Deferred tax assets attributable to:
Accrued compensation	$	11,840	$	12,395
Accrued expenses	7,713		8,020
Inventories	5,969		830
Net operating loss and other carryforwards	32,648		32,420
Accounts receivable	17,739		18,301
Lease liability	11,294		16,573
Research and Development	14,652		—
Long-term liabilities	1,141		—
Other assets	1,577		7,687
Deferred tax assets	104,573		96,226
Valuation allowance	(32,500)		(38,716)
Deferred tax assets, net of valuation allowance	$	72,073	$	57,510
Deferred tax liabilities attributable to:
Inventories	$	(4,338)	$	—
Intangible assets, including goodwill	(54,572)		(70,799)
Property, plant and equipment	(63,502)		(69,971)
Foreign withholding taxes	(16,922)		(20,239)
Lease asset	(12,792)		(18,346)
Investment in subsidiary	(1,973)		(2,014)
Long-term liabilities	—		(1,100)
Deferred tax liabilities	(154,099)		(182,469)
Net deferred tax liabilities	$	(82,026)	$	(124,959)

Classified as follows in the consolidated balance sheets:
Assets held for sale	$	3,165	$	—
Other non-current assets	10,742		13,012
Liabilities held for sale	(1,698)		—
Deferred income taxes	(94,235)		(137,971)
Net deferred tax liabilities	$	(82,026)	$	(124,959)

Effective Tax Rate. Our effective tax rate was 20.4% for 2022 compared to 25.2% for 2021. The decrease in the effective tax rate for 2022 was primarily driven by the change in the mix of domestic and foreign earnings and the release of valuation allowance on the deferred tax asset of a foreign affiliate.

Net operating loss carryforwards. As of December 31, 2022, our deferred tax asset balance included non-U.S. net operating loss carryforwards of $7.8 million. This entire balance is available to be carried forward; non-U.S. carryforwards will expire during the years 2024 through 2042.

Foreign tax credit carryforwards. As of December 31, 2022, our deferred tax asset balance included U.S. foreign tax credit carryforwards of $24.3 million. This entire balance is available to be carried forward and will begin to 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. With respect to foreign net operating losses, a significant piece of objective negative evidence evaluated was the cumulative loss incurred in various international jurisdictions over the three-year period ended December 31, 2022. Such objective evidence limits the ability to consider other subjective evidence, such as our projections for future growth. In addition, we analyzed our foreign income classification and determined we would not generate sufficient general limitation income to utilize our general limitation foreign tax credits. Based on this evaluation, as of December 31, 2022, we recorded a valuation allowance of $11.7 million relating to net foreign deferred tax assets (including net operating losses) and $20.8 million relating to foreign tax credits 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. In addition, if we increase our general limitation income, we could utilize and thus recognize additional foreign tax credit deferred tax assets.

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 for and, accordingly, the Company has no unrecognized tax benefits as of December 31, 2022.

The Company accounts for uncertain tax positions in accordance with guidance in 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. The Company does not have any material uncertain tax positions, individually or in totality.

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 2019. 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, 2022, the Company has $16.9 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, 2022. 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, 2022 as computation of the potential deferred tax liability associated with these undistributed earnings and any other basis differences is not practicable.

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.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: 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(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Dec. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Noncontrolling Interest and Unconsolidated Affiliates For the years ended December 31, 2022, 2021, and 2020, we declared and paid $1.2 million, $1.6 million, and $2.2 million, respectively, of distributions to the noncontrolling interest holders in ChampionX Middle East Services LLC. For the years ended December 31, 2022 and 2021, we declared and paid distributions of $1.3 million and $1.6 million, respectively, to the noncontrolling interest holders in Champion Arabia Co. Ltd. and $0.2 million and $0.5 million, respectively, to the noncontrolling interest holders in Petrochem Performance Products LLC. In the ordinary course of business, we enter into certain transactions with our unconsolidated affiliates at contractual prices. These transactions primarily related to inventory sales and amounted to approximately $8.1 million for the year ended December 31, 2022

ACCOUNTS RECEIVABLE FACILITY	12 Months Ended
ACCOUNTS RECEIVABLE FACILITY	Dec. 31, 2022
Receivables [Abstract]
ACCOUNTS RECEIVABLE FACILITY	ACCOUNTS RECEIVABLE FACILITY On June 28, 2022, we entered into an uncommitted accounts receivable purchase agreement (the “Accounts Receivable Facility”) with JPMorgan Chase Bank, N.A. as the purchaser. Transfers under the Accounts Receivable Facility are accounted for as sales of receivables, resulting in the receivables being derecognized from our consolidated balance sheet. The purchaser assumes the credit risk at the time of sale and has the right at any time to assign or transfer (including as a participation interest) any of its rights under the purchased receivables to another bank or financial institution. The amount available for sale under the Accounts Receivable Facility fluctuates over time based on the total amount of eligible receivables generated during the normal course of business. A maximum of $160.0 million in receivables may be sold and remain unpaid under the Accounts Receivable Facility at any time. An aggregate $249.8 million of accounts receivable were sold in the year ended December 31, 2022. The accounts receivable sold that remained outstanding as of December 31, 2022 was $83.8 million. During the period, cash receipts from the purchaser at the time of the sale were classified as operating activities in our consolidated statement of cash flows. The difference between the carrying amount of the accounts receivable sold and the sum of the cash received is recorded as a loss on sale of receivables in other income (expense), net in our consolidated statements of income. The loss on sale of accounts receivable was $2.0 million for the year ended December 31, 2022.

CASH FLOW INFORMATION

12 Months Ended

Dec. 31, 2022

Supplemental Cash Flow Elements [Abstract]

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)	2022		2021		2020
Cash information:
Cash paid for income taxes	$	127,271	$	50,097	$	18,179
Cash paid for interest	$	46,781	$	51,995	$	39,746
Net increase (decrease) in accounts payable for capital expenditures	$	(6,803)	$	8,686	$	9,549

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


	Statement of Cash Flows Classification	December 31,
(in thousands)		2022		2021
Cash paid for amounts included in measurement of lease liabilities:
Operating leases (1)	Operating	$	42,747	$	45,583
Finance leases - interest	Operating	$	695	$	510
Finance leases - principal	Financing	$	6,540	$	6,258
Supplemental non-cash information on lease liabilities arising from obtaining right-of-use assets:
Operating leases	Non-cash	$	4,572	$	27,390
Finance leases	Non-cash	$	15,473	$	5,971

_______________________

(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, 2022, 2021, and 2020, we transferred $80.2 million, $48.7 million, and $15.3 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, 2022, 2021, and 2020, we made cash payments of $39.8 million, $37.1 million, and $20.8 million, respectively, for leased asset program equipment.

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2022

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, 2022	$	7,662	(927)	(869)	(360)	$	5,506
Year Ended December 31, 2021	$	10,192	4,418	(7,002)	54	$	7,662
Year Ended December 31, 2020	$	8,072	3,644	(3,230)	1,706	$	10,192

_______________________

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


Deferred Tax Valuation Allowance	Balance at Beginning of Year		Additions	Reductions	Other(2)	Balance at End of Year
Year Ended December 31, 2022	$	38,716	—	(6,120)	(96)	$	32,500
Year Ended December 31, 2021	$	26,786	14,696	(2,766)	—	$	38,716
Year Ended December 31, 2020	$	6,027	21,101	(342)	—	$	26,786

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2022
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. As a result of the Merger, the results of operations of the Chemical Technologies business have been reflected in our accompanying consolidated financial statements from the closing date of the Merger. Results for the periods prior to June 3, 2020 reflect the financial and operating results of Apergy. See Note 3—Merger Transaction, Acquisitions, and Divestitures for additional information on the Merger, and Note 4—Segment Information for additional information on our reporting segments and the Chemical Technologies business.
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	Receivables, net—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 through the application of 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, net	Inventories, net—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, 2022 and 2021, approximately 28% and 33%, respectively, of our total net inventories were accounted for using the last-in, first-out (LIFO) basis. 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 were reduced during 2022, resulting in a liquidation, or partial liquidation, of previous LIFO inventory layers that were carried at a lower cost, as compared with current costs in the current year (“LIFO decrement”).
Property, plant and equipment, net	Property, plant and equipment, net—Property, plant and equipment is recorded at cost, or fair value for those assets acquired in a business combination. Depreciation is applied 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 (income), 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 to the extent 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 intangible assets, net	Goodwill and intangible assets, net—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 initially assess goodwill for impairment based on qualitative factors to determine whether it is necessary to perform a goodwill impairment test. When performing the quantitative assessment, we estimate fair value of our reporting units using an income approach. Our income-based valuation method determines the present value of estimated future cash flows to estimate the fair value of a reporting unit, which requires the use of significant unobservable inputs, and represents a Level 3 fair value measurement. Significant assumptions used in estimating our reporting unit fair values include discount rate, revenue growth rates, future operating margins, future capital expenditures, changes in working capital requirements and terminal growth rates. 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 to the extent 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 two intangible assets with an indefinite life which are tested annually for impairment. See Note 7—Goodwill and Intangible Assets for additional information related to our impairment analysis.
Revenue Recognition	Revenue Recognition—Revenue is recognized upon 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 may require delivery, installation, testing, or other acceptance provisions to be satisfied before revenue is recognized. Service revenue is recognized as the services are performed. 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. No material variable consideration has been identified within our contracts.
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 selling 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 components related to our lease arrangements, such as installation, monitoring and field service support, are 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 apply utilizing a portfolio approach. We utilize 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 is 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, but are not material to the financial statements. 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—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.The Global Intangible Low-Taxed Income (“GILTI”) provisions of the Tax Reform Act 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.
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 and reported within other non-current assets in our consolidated balance sheets. ChampionX’s share of the after-tax earnings of equity method investees is included within other expense (income), net in our consolidated statements of income (loss).
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 in an orderly transaction between market participants at the reporting date (an exit price). In the absence of active markets for the identical assets or liabilities, such measurements involve developing assumptions based on market observable data and, in the absence of such data, internal information that is consistent with what market participants would use in a hypothetical transaction that occurs at the measurement date. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. Preference is given to observable inputs. These two types of inputs create the following fair value hierarchy: •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 also utilizes floating-to-fixed interest rate swap agreements as cash flow hedges on certain debt, to mitigate interest rate risk. 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 (income), net.
New Accounting Standards Issued	New Accounting Standards Issued In September 2022, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2022-04, “Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations”, which requires that a buyer in a supplier finance program disclose information about the key terms of the program, outstanding confirmed amounts as of the end of the period, a rollforward of such amounts during each annual period, and a description of where in the financial statements outstanding amounts are presented. The ASU does not affect the recognition, measurement or financial statement presentation of obligations covered by supplier finance programs. The guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023, with early adoption permitted. The adoption of this ASU will not have a material effect on our consolidated financial statements. Accounting Standards Adopted 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, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Inventory

Inventories consisted of the following:


	December 31,
(in thousands)	2022		2021
Raw materials	$	142,571	$	186,516
Work in progress	19,582		13,615
Finished goods	467,628		421,702
	629,781		621,833
Inventory reserve	(24,702)		(24,646)
LIFO adjustments (1)	(62,536)		(54,277)
Inventories, net	$	542,543	$	542,910

_______________________

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

MERGER TRANSACTION, ACQUISITIONS, AND DIVESTITURES (Tables)

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Non-recurring Pro Forma Adjustments


(in thousands)	Year Ended December 31, 2020
Revenues	$	2,775,027
Net income (loss) attributable to ChampionX	(777,553)

Schedule of Major Class of Assets and Liabilities Held For Sale

The following table presents information related to the major classes of assets and liabilities that were held for sale in our consolidated balance sheet:


	CT Russia Business
(in thousands)	December 31, 2022
Receivables	$	7,168
Inventory	5,801
Prepaid expenses and other current assets	6,838
Property, plant, and equipment	3,683
Goodwill	2,695
Intangible assets	5,500
Operating lease right-of-use assets	1,504
Other long-term assets	2,993
Loss on disposal group	(16,515)
Total assets held for sale	$	19,667
Accounts payable	$	1,846
Other current liabilities	2,491
Other noncurrent liabilities	2,849
Total liabilities held for sale	$	7,186

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI https://asc.fasb.org/extlink&oid=109226691&loc=SL51724579-110230

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=109222650&loc=d3e1474-107760

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=109222160&loc=SL51721533-107759

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721659-107760

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721665-107760

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721671-107760

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760

+ Details

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Revenue and Operating Profit

Segment revenue and segment operating profit


	Years Ended December 31,
(in thousands)	2022		2021		2020
Segment revenue:
Production Chemical Technologies	$	2,347,526	$	1,842,400	$	992,805
Production & Automation Technologies	954,646		762,371		615,918
Drilling Technologies	229,479		172,066		116,186
Reservoir Chemical Technologies	145,197		141,095		61,507
Corporate and other (1)	129,100		157,058		113,580
Total revenue	$	3,805,948	$	3,074,990	$	1,899,996

Income (loss) before income taxes:
Segment operating profit (loss):
Production Chemical Technologies	$	239,936	$	165,463	$	94,294
Production & Automation Technologies	89,133		45,635		(697,937)
Drilling Technologies	54,512		30,409		2,574
Reservoir Chemical Technologies	(90,212)		30,311		(6,198)
Total segment operating profit (loss)	293,369		271,818		(607,267)
Corporate and other (1)	51,359		67,212		103,751
Interest expense, net	45,204		51,921		51,731
Income (loss) before income taxes	$	196,806	$	152,685	$	(762,749)

____________________

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

Geographic information


	December 31,
(in thousands)	2022		2021
Property, plant, and equipment, net:
United States	$	481,908	$	492,766
Singapore	89,015		100,259
Canada	70,132		77,501
Other Countries	93,755		106,287
Total property, plant, and equipment, net	$	734,810	$	776,813

Schedule of Other Segment Information

Other business segment information


	Capital Expenditures Years Ended December 31,
(in thousands)	2022		2021		2020
Chemical Technologies (1)	$	41,782	$	38,915	$	10,498
Production & Automation Technologies	56,363		40,137		32,100
Drilling Technologies	3,732		2,826		1,736
Corporate and other	931		2,586		829
Total	$	102,808	$	84,464	$	45,163


	Depreciation & Amortization Years Ended December 31,
(in thousands)	2022		2021		2020
Production Chemical Technologies	$	91,875	$	98,049	$	58,328
Production & Automation Technologies	103,592		101,575		130,725
Drilling Technologies	6,639		7,295		7,940
Reservoir Chemical Technologies	14,662		10,295		5,741
Corporate and other	25,112		20,071		11,628
Total	$	241,880	$	237,285	$	214,362

REVENUE (Tables)

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

Revenue disaggregated by geography was as follows:


	Year Ended December 31, 2022
(in thousands)	Production Chemical Technologies		Production & Automation Technologies		Drilling Technologies		Reservoir Chemical Technologies		Corporate and other (1)		Total
United States	$	851,057	$	738,178	$	180,912	$	88,108	$	76,461	$	1,934,716
Latin America	594,737		21,756		7		13,887		3,100		633,487
Middle East & Africa	307,154		66,918		6,628		26,876		2,314		409,890
Canada	296,623		73,561		14,529		1,933		116		386,762
Europe	194,034		13,655		20,911		3,439		13,936		245,975
Asia-Pacific	35,536		6,170		6,434		3,115		33,173		84,428
Australia	21,866		34,318		33		299		—		56,516
Other	46,519		90		25		7,540		—		54,174
Total revenue	$	2,347,526	$	954,646	$	229,479	$	145,197	$	129,100	$	3,805,948


	Year Ended December 31, 2021
(in thousands)	Production Chemical Technologies		Production & Automation Technologies		Drilling Technologies		Reservoir Chemical Technologies		Corporate and other (1)		Total
United States	$	653,826	$	583,010	$	136,351	$	88,313	$	105,855	$	1,567,355
Latin America	364,386		18,454		—		15,220		4,741		402,801
Middle East & Africa	268,096		53,995		5,408		22,140		8,896		358,535
Canada	263,887		58,927		13,474		2,739		342		339,369
Europe	180,269		6,088		11,810		4,315		11,617		214,099
Asia-Pacific	43,593		7,229		3,358		4,585		25,607		84,372
Australia	28,388		34,451		130		135		—		63,104
Other	39,955		217		1,535		3,648		—		45,355
Total revenue	$	1,842,400	$	762,371	$	172,066	$	141,095	$	157,058	$	3,074,990


	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
Latin America	202,177		21,679		22		4,283		3,650		231,811
Middle East & Africa	164,480		45,026		1,146		14,292		15,254		240,198
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
Asia-Pacific	28,023		5,549		9,141		2,267		9,041		54,021
Australia	13,225		41,233		110		274		—		54,842
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

_______________________

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)	2022		2021
Contract assets	$	—	$	—
Contract liabilities	14,113		15,246

PROPERTY, PLANT, AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment consisted of the following:


	December 31,
(in thousands)	2022		2021
Land and land improvements	$	125,531	$	134,913
Buildings and improvements	308,278		309,821
Software	55,400		44,295
Machinery, equipment and other	938,827		906,651
	1,428,036		1,395,680
Accumulated depreciation	(693,226)		(618,867)
Property, plant and equipment, net	$	734,810	$	776,813

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, 2022
Cable equipment	18 months	$	56,957
Downhole equipment	18 months	31,186
Surface equipment	5 years	87,030
Other lease equipment	3 - 5 years	12,224
		187,397
Accumulated depreciation		(115,161)
Leased assets, net		$	72,236

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

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, 2020	$	351,057	$	191,537	$	101,136	$	36,864	$	680,594
Acquisition (1)	2,500		13,893		—		—		16,393

Foreign currency translation	3,081		37		—		2,762		5,880
December 31, 2021	356,638		205,467		101,136		39,626		702,867
Acquisition (1)	—		6,345		—		—		6,345
Allocated to disposal group (2)	(2,695)		—		—		—		(2,695)
Impairment	—		—		—		(39,617)		(39,617)
Foreign currency translation	13,141		(544)		—		(9)		12,588
December 31, 2022	$	367,084	$	211,268	$	101,136	$	—	$	679,488

_______________________

(1) See Note 3—Merger Transaction, Acquisitions, and Divestitures for additional information related to the acquisitions completed during July 2021, December 2021, and February 2022.

(2) See Note 3—Merger Transaction, Acquisitions, and Divestitures for additional information on the reclassification of assets and liabilities held for sale related to our Russia CT Business.

Schedule of Finite-Lived Intangible Assets

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


	December 31, 2022						December 31, 2021
(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)	$	582,466	$	407,212	$	175,254	$	593,242	$	365,773	$	227,469
Unpatented technologies	142,760		56,264		86,496		142,540		37,264		105,276
Favorable supply agreements (2)	57,000		49,056		7,944		59,000		30,546		28,454
Trademarks	59,856		36,048		23,808		59,873		32,270		27,603
Patents	38,175		31,481		6,694		38,735		31,080		7,655
Other	5,274		5,260		14		5,390		5,177		213
	885,531		585,321		300,210		898,780		502,110		396,670
Indefinite-lived intangible assets:
Trademarks	3,600		—		3,600		3,600		—		3,600
In-process research and development	1,200		—		1,200		1,200		—		1,200
	4,800		—		4,800		4,800		—		4,800
Total	$	890,331	$	585,321	$	305,010	$	903,580	$	502,110	$	401,470

_______________________

Schedule of Indefinite-Lived Intangible Assets

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


	December 31, 2022						December 31, 2021
(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)	$	582,466	$	407,212	$	175,254	$	593,242	$	365,773	$	227,469
Unpatented technologies	142,760		56,264		86,496		142,540		37,264		105,276
Favorable supply agreements (2)	57,000		49,056		7,944		59,000		30,546		28,454
Trademarks	59,856		36,048		23,808		59,873		32,270		27,603
Patents	38,175		31,481		6,694		38,735		31,080		7,655
Other	5,274		5,260		14		5,390		5,177		213
	885,531		585,321		300,210		898,780		502,110		396,670
Indefinite-lived intangible assets:
Trademarks	3,600		—		3,600		3,600		—		3,600
In-process research and development	1,200		—		1,200		1,200		—		1,200
	4,800		—		4,800		4,800		—		4,800
Total	$	890,331	$	585,321	$	305,010	$	903,580	$	502,110	$	401,470

_______________________

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated future amortization expense related to intangible assets held as of December 31, 2022, is as follows:


(in thousands)	Estimated Amortization
2023	$	61,281
2024	48,265
2025	37,196
2026	36,838
2027	25,763

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

DEBT (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Debt

Long-term debt consisted of the following:


	December 31,
(in thousands)	2022		2021
2022 Revolving Credit Facility	$	25,000	$	—
2018 Term Loan Facility	—		140,000
2020 Term Loan Facility	—		496,725
2022 Term Loan Facility	623,438		—
6.375% Senior Notes due 2026	—		92,041
Total	648,438		728,766
Net unamortized discounts and issuance costs	(20,486)		(4,259)
Total long-term debt	627,952		724,507
Current portion of long-term debt (1)	(6,250)		(26,850)
Long-term debt, less current portion	$	621,702	$	697,657

_______________________

(1) Includes the mandatory amortization payments due within twelve months related to the 2022 Term Loan Facility as of December 31, 2022 and the 2020 Term Loan Facility as of December 31, 2021.

Contractual Obligation, Maturity Schedule

As of December 31, 2022, aggregate contractual future principal payments on long-term debt are as follows:


(in thousands)	Principal Payments(1)
2023	$	6,250
2024	6,250
2025	6,250
2026	6,250
2027	31,250
Thereafter	592,188
Total	$	648,438

_______________________

(1) Principal payments included relate to our 2022 Term Loan Facility. See Note 10—Leases for future payments related to finance lease obligations.

LEASES (Tables)

12 Months Ended

Dec. 31, 2022

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	2022		2021
Right-of Use Assets:
Finance leases	Property, plant, and equipment, net	$	17,435	$	8,048
Operating leases	Operating lease right-of-use assets	92,928		115,458
Total lease right-of-use assets		110,363		123,506
Lease Liabilities:
Finance leases - current	Accrued expenses and other current liabilities	$	5,983	$	4,006
Finance leases	Other long-term liabilities	11,955		4,498
Operating leases - current	Current portion of operating lease liabilities	28,838		36,389
Operating leases	Operating lease liabilities	59,686		73,521
Total lease liabilities		$	106,462	$	118,414

Schedule of Lease Costs and Other Information

Components of total lease cost were as follows:


	Years Ended December 31,
(in thousands)	2022		2021
Finance lease cost:
Amortization of right-of-use assets	$	6,024	$	5,855
Interest on lease liabilities	695		510
Operating lease cost	42,365		41,113
Short-term and variable lease cost	24,291		21,756
Sublease income	—		(18)
Total lease cost	$	73,375	$	69,216

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


	December 31,
	2022		2021
Weighted-average remaining lease term (years):
Operating lease	6.5		6.9
Finance lease	3.5		2.7
Weighted-average discount rate:
Operating lease	5.9	%	5.3	%
Finance lease	5.7	%	5.0	%

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


	Statement of Cash Flows Classification	December 31,
(in thousands)		2022		2021
Cash paid for amounts included in measurement of lease liabilities:
Operating leases (1)	Operating	$	42,747	$	45,583
Finance leases - interest	Operating	$	695	$	510
Finance leases - principal	Financing	$	6,540	$	6,258
Supplemental non-cash information on lease liabilities arising from obtaining right-of-use assets:
Operating leases	Non-cash	$	4,572	$	27,390
Finance leases	Non-cash	$	15,473	$	5,971

_______________________

(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, 2022 are as follows:


(in thousands)	Operating		Finance
2023	$	34,751	$	6,539
2024	26,651		5,850
2025	16,470		3,754
2026	8,534		2,050
2027	5,244		1,519
Thereafter	18,118		247
Total future minimum lease payments	109,768		19,959
Interest included within lease payments	(21,244)		(2,021)
Total lease liabilities	$	88,524	$	17,938

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, 2022 are as follows:


(in thousands)	Operating		Finance
2023	$	34,751	$	6,539
2024	26,651		5,850
2025	16,470		3,754
2026	8,534		2,050
2027	5,244		1,519
Thereafter	18,118		247
Total future minimum lease payments	109,768		19,959
Interest included within lease payments	(21,244)		(2,021)
Total lease liabilities	$	88,524	$	17,938

Schedule of Leased Assets

Property, plant and equipment consisted of the following:


	December 31,
(in thousands)	2022		2021
Land and land improvements	$	125,531	$	134,913
Buildings and improvements	308,278		309,821
Software	55,400		44,295
Machinery, equipment and other	938,827		906,651
	1,428,036		1,395,680
Accumulated depreciation	(693,226)		(618,867)
Property, plant and equipment, net	$	734,810	$	776,813

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, 2022
Cable equipment	18 months	$	56,957
Downhole equipment	18 months	31,186
Surface equipment	5 years	87,030
Other lease equipment	3 - 5 years	12,224
		187,397
Accumulated depreciation		(115,161)
Leased assets, net		$	72,236

RESTRUCTURING (Tables)

12 Months Ended

Dec. 31, 2022

Restructuring and Related Activities [Abstract]

Restructuring and Other Related Charges

The following table presents the restructuring and other related charges by segment as classified in our consolidated statements of income (loss).


	Years Ended December 31,
(in thousands)	2022		2021		2020
Segment restructuring charges:
Production Chemical Technologies	$	13,899	$	6,508	$	5,241
Production & Automation Technologies	1,111		5,441		11,814
Drilling Technologies	—		—		5,521
Reservoir Chemical Technologies	47,692		415		348
Corporate and other	5,400		910		367
Total	$	68,102	$	13,274	$	23,291

Statements of Income (Loss) classification:
Cost of goods and services	$	47,216	$	6,554	$	13,955
Selling, general and administrative expense	20,886		6,720		9,336
Total	$	68,102	$	13,274	$	23,291

The following table details our restructuring accrual activities during the year ended December 31, 2022:


(in thousands)	Restructuring Accrual Balance
December 31, 2021	$	3,743
Restructuring charges	68,102
Asset sales and write-offs	(16,718)
Payments	(26,548)
Other, including foreign currency translation	(61)
December 31, 2022	$	28,518

EQUITY AND CASH INCENTIVE PROGRAMS (Tables)

12 Months Ended

Dec. 31, 2022

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,
	2022		2021		2020
Stock-based compensation expense	$	20,089	$	23,178	$	19,536
Tax benefit	(4,492)		(5,257)		(4,478)
Stock-based compensation expense, net of tax	$	15,597	$	17,921	$	15,058

Schedule of Activity Related to SARs Outstanding

A summary of activity relating to SARs outstanding for the year ended December 31, 2022, 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, 2022	393,523	$	29.94


Forfeited / expired	(1,758)	34.13
Exercised	(105,659)	24.94
Outstanding at December 31, 2022	286,106	$	31.77	3.3	$	250

Exercisable at December 31, 2022	286,106	$	31.77	3.3	$	250

Schedule of Other Information Related to the Exercise of SARs

Other information regarding the exercise of SARs is presented below:


(in thousands)	2022		2021		2020
SARs:
Fair value of SARs that became exercisable	$	—	$	—	$	878
Aggregate intrinsic value of SARs exercised	634		71		—

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 2022, 2021, and 2020, is as follows:


Performance shares:	2022		2021		2020
Fair value per share at date of grant	$	23.90	$	26.32	$	14.55

The fair value and average attainment used in determining stock-based compensation expense of the performance shares issued in 2022 and 2021 are as follows:


Performance shares:	2022			2021
Fair value per share at date of grant	$	20.55		$	17.61
Average attainment rate reflected in expense	100		%	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, 2022, is as follows:


	Shares	Weighted-Average Grant-Date Fair Value
Unvested at January 1, 2022	505,509	$	24.26
Granted	347,920	22.23
Forfeited	(6,022)	22.10
Vested	(72,410)	48.83

Unvested at December 31, 2022	774,997	$	21.07

Schedule of Restricted Stock Unit Activity

A summary of activity for restricted stock units for the year ended December 31, 2022, is as follows:


	Shares	Weighted-Average Grant-Date Fair Value
Unvested at January 1, 2022	2,342,107	$	14.49
Granted	975,484	20.99
Forfeited	(240,094)	15.92
Vested	(1,280,277)	14.38
Unvested at December 31, 2022	1,797,220	$	18.64

Schedule of Non-Qualified Stock Options

A summary of activity for non-qualified stock options for the year ended December 31, 2022 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, 2022	5,488,653	$	6.18
Granted	—	—
Forfeited / expired	(2,859)	7.54
Exercised	(1,748,137)	5.82
Outstanding at December 31, 2022	3,737,657	$	6.35	4.2	$	84,004

Exercisable at December 31, 2022	3,737,657	$	6.35	4.2	$	84,004

STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss consisted of the following:


(in thousands)	Foreign Currency Translation		Defined Pension and Other Post-Retirement Benefits		Cash Flow Hedges		Accumulated Other Comprehensive Income (Loss)
December 31, 2020	$	(14,965)	$	(13,470)	$	(2,320)	$	(30,755)
Other comprehensive income (loss) before reclassifications, net of tax	(4,465)		8,712		3,601		7,848
Reclassification adjustment for net losses included in net income, net of tax	—		1,282		—		1,282
Other comprehensive income (loss), net of tax	(4,465)		9,994		3,601		9,130
December 31, 2021	(19,430)		(3,476)		1,281		(21,625)
Other comprehensive income (loss) before reclassifications, net of tax	(18,592)		2,879		7,558		(8,155)
Reclassification adjustment for net losses included in net income, net of tax	—		250		—		250
Other comprehensive income (loss), net of tax	(18,592)		3,129		7,558		(7,905)
December 31, 2022	$	(38,022)	$	(347)	$	8,839	$	(29,530)

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)	2022		2021		2020
Amortization of actuarial loss and net transition obligation(1)	$	340	$	1,532	$	492	Other expense, net
Amortization of prior service cost (1)	14		77		—		Other expense, net
Settlement loss (1)	—		—		698		Other expense, net
	354		1,609		1,190		Income before income taxes
	(104)		(327)		(329)		Provision for (benefit from) income taxes
	$	250	$	1,282	$	861	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 (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of Earnings (Loss) 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)	2022		2021		2020
Net income (loss) attributable to ChampionX	$	154,969	$	113,299	$	(743,930)

Weighted-average number of shares outstanding	201,740		201,579		148,370
Dilutive effect of stock-based compensation	5,519		6,746		—
Total shares and dilutive securities	207,259		208,325		148,370

Basic earnings per share attributable to ChampionX	$	0.77	$	0.56	$	(5.01)
Diluted earnings per share attributable to ChampionX	$	0.75	$	0.54	$	(5.01)

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2022

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:


		Carrying Amount
	Measurement Level	December 31,
(in thousands)		2022		2021
Assets
Foreign currency forward contracts	Level 2	$	7,066	$	4,081
Interest rate swaps	Level 2	8,476		—
Total		$	15,542	$	4,081

Liabilities
Foreign currency forward contracts	Level 2	$	4,209	$	3,773
Interest rate swaps	Level 2	—		—
Total		$	4,209	$	3,773

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, 2022				December 31, 2021
(in thousands)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
2022 Revolving Credit Facility	$	25,000	$	25,000	$	—	$	—
2018 Term Loan Facility	$	—	$	—	$	140,000	$	138,950
2020 Term Loan Facility	$	—	$	—	$	496,725	$	502,313
2022 Term Loan Facility	$	623,438	$	610,969	$	—	$	—
6.375% Senior Notes due 2026	$	—	$	—	$	92,041	$	95,805

DERIVATIVES AND HEDGING TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Values of Outstanding Derivatives

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.


	Derivative Assets				Derivative Liabilities
	December 31,				December 31,
(in thousands)	2022		2021		2022		2021
Prepaid expenses and other current assets	$	11,911	$	4,081	$	—	$	—
Other non-current assets	3,631		—		—		—
Accrued expenses and other current liabilities	—		—		4,209		3,773
Other long-term liabilities	—		—		—		—
	$	15,542	$	4,081	$	4,209	$	3,773

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


	December 31,
(in thousands)	2022		2021
Notional value of foreign currency forward contracts and interest rate swaps	$	965,973	$	704,190

Schedule of Gain (Loss) on Derivative Instruments

The loss of all derivative instruments recognized is summarized below:


	Years Ended December 31,
(in thousands)	2022		2021		2020
Loss (gain) reclassified from AOCI to income on cash flow hedges:
Cost of goods and services	$	(1,665)	$	3,717	$	171
Interest expense	549		—		—
Loss on derivatives not designated as hedging instruments:
Other expense (income), net	7,147		3,589		692
Total loss of derivative instruments	$	6,031	$	7,306	$	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 https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5580258-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41620-113959

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41638-113959

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41678-113959

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41641-113959

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959

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 https://asc.fasb.org/extlink&oid=125515794&loc=SL5579240-113959

+ Details

INCOME TAXES - (Tables)

12 Months Ended

Dec. 31, 2022

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)	2022		2021		2020
Domestic	$	58,141	$	(2,099)	$	(811,995)
Foreign	138,665		154,784		49,246
Income (loss) before income taxes	$	196,806	$	152,685	$	(762,749)

Provision For (Benefit From) Income Tax

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


	Years Ended December 31,
(in thousands)	2022		2021		2020
Current:
U.S. federal	$	49,997	$	14,895	$	1,578
State and local	11,147		4,867		1,579
Foreign	24,381		40,149		20,264
Total current	85,525		59,911		23,421
Deferred:
U.S. federal	(35,207)		(24,962)		(32,454)
State and local	(4,900)		(862)		(6,738)
Foreign	(5,175)		4,358		(4,625)
Total deferred	(45,282)		(21,466)		(43,817)
Provision for (benefit from) income taxes	$	40,243	$	38,445	$	(20,396)

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,
	2022		2021		2020
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	0.6		2.1		0.5
Foreign withholding tax	5.7		8.5		(1.2)
Foreign derived intangible income	(1.0)		(0.7)		—
Foreign operations tax effect	2.8		(1.3)		(0.4)
Research and experimentation tax credits	(1.5)		(2.5)		0.4
Foreign tax credit	(4.5)		(9.9)		—
Nondeductible expenses	0.5		1.6		(0.6)
Branch income	3.5		7.6		(0.7)
Tax return to accrual adjustments	(2.1)		(7.3)		0.1
State deferred taxes	(1.0)		—		0.2
Goodwill impairment	1.8		—		(15.5)
Foreign inclusions (including global intangible low-taxed income)	3.5		6.6		(0.7)
Transaction costs	—		—		(0.6)
Change in valuation allowance	(7.3)		1.8		(0.5)
Stock compensation	(3.6)		(3.7)		—
Nondeductible officer compensation	0.8		2.1		—
Other	1.2		(0.7)		0.7
Effective income tax rate	20.4	%	25.2	%	2.7	%

Significant Components Of Deferred Tax Assets And Liabilities

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


	December 31,
(in thousands)	2022		2021
Deferred tax assets attributable to:
Accrued compensation	$	11,840	$	12,395
Accrued expenses	7,713		8,020
Inventories	5,969		830
Net operating loss and other carryforwards	32,648		32,420
Accounts receivable	17,739		18,301
Lease liability	11,294		16,573
Research and Development	14,652		—
Long-term liabilities	1,141		—
Other assets	1,577		7,687
Deferred tax assets	104,573		96,226
Valuation allowance	(32,500)		(38,716)
Deferred tax assets, net of valuation allowance	$	72,073	$	57,510
Deferred tax liabilities attributable to:
Inventories	$	(4,338)	$	—
Intangible assets, including goodwill	(54,572)		(70,799)
Property, plant and equipment	(63,502)		(69,971)
Foreign withholding taxes	(16,922)		(20,239)
Lease asset	(12,792)		(18,346)
Investment in subsidiary	(1,973)		(2,014)
Long-term liabilities	—		(1,100)
Deferred tax liabilities	(154,099)		(182,469)
Net deferred tax liabilities	$	(82,026)	$	(124,959)

Classified as follows in the consolidated balance sheets:
Assets held for sale	$	3,165	$	—
Other non-current assets	10,742		13,012
Liabilities held for sale	(1,698)		—
Deferred income taxes	(94,235)		(137,971)
Net deferred tax liabilities	$	(82,026)	$	(124,959)

CASH FLOW INFORMATION (Tables)

12 Months Ended

Dec. 31, 2022

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)	2022		2021		2020
Cash information:
Cash paid for income taxes	$	127,271	$	50,097	$	18,179
Cash paid for interest	$	46,781	$	51,995	$	39,746
Net increase (decrease) in accounts payable for capital expenditures	$	(6,803)	$	8,686	$	9,549

Schedule of Supplemental Cash Flow Information Related to Leases

Components of total lease cost were as follows:


	Years Ended December 31,
(in thousands)	2022		2021
Finance lease cost:
Amortization of right-of-use assets	$	6,024	$	5,855
Interest on lease liabilities	695		510
Operating lease cost	42,365		41,113
Short-term and variable lease cost	24,291		21,756
Sublease income	—		(18)
Total lease cost	$	73,375	$	69,216

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


	December 31,
	2022		2021
Weighted-average remaining lease term (years):
Operating lease	6.5		6.9
Finance lease	3.5		2.7
Weighted-average discount rate:
Operating lease	5.9	%	5.3	%
Finance lease	5.7	%	5.0	%

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


	Statement of Cash Flows Classification	December 31,
(in thousands)		2022		2021
Cash paid for amounts included in measurement of lease liabilities:
Operating leases (1)	Operating	$	42,747	$	45,583
Finance leases - interest	Operating	$	695	$	510
Finance leases - principal	Financing	$	6,540	$	6,258
Supplemental non-cash information on lease liabilities arising from obtaining right-of-use assets:
Operating leases	Non-cash	$	4,572	$	27,390
Finance leases	Non-cash	$	15,473	$	5,971

_______________________

(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 - Schedule of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Percentage of LIFO inventory	28.00%	33.00%
Raw materials	$ 142,571	$ 186,516
Work in progress	19,582	13,615
Finished goods	467,628	421,702
Inventory, gross	629,781	621,833
Inventory reserve	(24,702)	(24,646)
LIFO Adjustments	(62,536)	(54,277)
Inventories, net	$ 542,543	$ 542,910

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ / shares in Units, $ in Thousands			12 Months Ended
	Apr. 01, 2020	Mar. 31, 2020	Dec. 31, 2022 USD ($) asset $ / shares	Dec. 31, 2021 USD ($) $ / shares	Dec. 31, 2020 USD ($) $ / shares
Property, Plant and Equipment [Line Items]
Effect of LIFO decreased cost of goods sold			$ 5,600
Number of indefinite-lived intangible assets \| asset			2
Research and development expense			$ 45,100	$ 46,500	$ 31,200
Accrued foreign withholding taxes on undistributed foreign earnings			16,922	20,239
Increase in depreciation expense			154,600	149,800	142,600
Decrease in net income			$ (154,969)	$ (113,299)	$ 743,930
Decrease in earnings per share, basic (in dollars per share) \| $ / shares			$ (0.77)	$ (0.56)	$ 5.01
Decrease in earnings per share, diluted (in dollars per share) \| $ / shares			$ (0.75)	$ (0.54)	$ 5.01
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) \| $ / shares					$ 0.18
Decrease in earnings per share, diluted (in dollars per share) \| $ / shares					$ 0.18
Minimum \| Other intangible assets
Property, Plant and Equipment [Line Items]
Useful life of acquired intangibles (in years)			3 years
Maximum \| Other intangible assets
Property, Plant and Equipment [Line Items]
Useful life of acquired intangibles (in years)			15 years
Buildings and leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)			5 years
Buildings and leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)			40 years
Machinery, equipment and other \| Minimum
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)			1 year
Machinery, equipment and other \| Maximum
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)			20 years
Software \| Minimum
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)			3 years
Software \| Maximum
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)			7 years

NEW ACCOUNTING STANDARDS - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Jan. 01, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated deficit		$ (527,603)	$ (525,158)
Income tax benefit		$ (40,243)	$ (38,445)	$ 20,396
Cumulative effect of accounting changes
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated deficit	$ 1,600
Income tax 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 DIVESTITURES - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions							3 Months Ended		12 Months Ended
	Feb. 23, 2023	Feb. 23, 2022	Dec. 08, 2021	Sep. 07, 2021	Jul. 02, 2021	Jun. 03, 2020	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill, acquired during period									$ 6,345	$ 16,393
Goodwill and long-lived asset impairment charges									39,617	0	$ 657,251
Goodwill									679,488	702,867	680,594
Other assets held for sale									9,700
Cash received from disposal									0	$ 66,786	0
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]										Other Nonoperating Income (Expense)
Disposal Group, Held-for-sale, Not Discontinued Operations \| CT Russia Business
Business Acquisition [Line Items]
Gain (charge) on divestiture							$ 6,400	$ (22,900)
Property, plant and equipment sold									3,683
Inventory sold									$ 5,801
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Corsicana Plant
Business Acquisition [Line Items]
Purchase price				$ 70,000
Cash received from disposal				68,800
Amount held in escrow				$ 3,500
Escrow period				1 year
Property, plant and equipment sold				$ 23,600
Inventory sold				2,200
Other working capital items sold				$ 1,800
Gain recognized on disposal										$ 38,100
Legacy ChampionX
Business Acquisition [Line Items]
Number of shares issued (in shares)						122.2
Share price (in dollars per share)						$ 10.34
Percentage of equity interest acquired						100.00%
Consideration transferred						$ 1,300,000
Goodwill, acquired during period						$ 386,700
Cross supply and product transfer agreement, term						3 years
Goodwill and long-lived asset impairment charges											$ 805,000
Leak Surveys, Inc.
Business Acquisition [Line Items]
Consideration transferred		$ 3,200
Future payments contingent upon performance		2,500
Goodwill		$ 6,300
Leak Surveys, Inc. \| Forecast
Business Acquisition [Line Items]
Consideration transferred	$ 500
Tomson Technologies LLC and Group 2 Technologies LLC
Business Acquisition [Line Items]
Consideration transferred			$ 10,100
Future payments contingent upon performance			13,000
Goodwill			2,500
Contingent consideration			3,700
Intangible assets			$ 10,200
Scientific Aviation, Inc.
Business Acquisition [Line Items]
Consideration transferred					$ 10,000
Future payments contingent upon performance					10,000
Goodwill					13,900
Contingent consideration					$ 5,500

MERGER TRANSACTION, ACQUISITIONS, AND DIVESTITURES- Schedule of Pro Forma Information (Details) - Legacy ChampionX $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Business Acquisition [Line Items]
Revenues	$ 2,775,027
Net income (loss) attributable to ChampionX	$ (777,553)

MERGER TRANSACTION, ACQUISITIONS, AND DIVESTITURES - Schedule of Major Class of Assets and Liabilities Held For Sale (Details) - Disposal Group, Held-for-sale, Not Discontinued Operations - CT Russia Business $ in Thousands	Dec. 31, 2022 USD ($)
Business Acquisition [Line Items]
Receivables	$ 7,168
Inventory	5,801
Prepaid expenses and other current assets	6,838
Property, plant, and equipment	3,683
Goodwill	2,695
Intangible assets	5,500
Operating lease right-of-use assets	1,504
Other long-term assets	2,993
Loss on disposal group	(16,515)
Total assets held for sale	19,667
Accounts payable	1,846
Other current liabilities	2,491
Other noncurrent liabilities	2,849
Total liabilities held for sale	$ 7,186

SEGMENT INFORMATION - Segment Revenue and Segment Operating Profit (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total revenue	$ 3,805,948	$ 3,074,990	$ 1,899,996
Income (loss) before income taxes	196,806	152,685	(762,749)
Interest expense, net	45,204	51,921	51,731
Reporting segments
Segment Reporting Information [Line Items]
Income (loss) before income taxes	293,369	271,818	(607,267)
Reporting segments \| Production Chemical Technologies
Segment Reporting Information [Line Items]
Total revenue	2,347,526	1,842,400	992,805
Income (loss) before income taxes	239,936	165,463	94,294
Reporting segments \| Production & Automation Technologies
Segment Reporting Information [Line Items]
Total revenue	954,646	762,371	615,918
Income (loss) before income taxes	89,133	45,635	(697,937)
Reporting segments \| Drilling Technologies
Segment Reporting Information [Line Items]
Total revenue	229,479	172,066	116,186
Income (loss) before income taxes	54,512	30,409	2,574
Reporting segments \| Reservoir Chemical Technologies
Segment Reporting Information [Line Items]
Total revenue	145,197	141,095	61,507
Income (loss) before income taxes	(90,212)	30,311	(6,198)
Corporate and other
Segment Reporting Information [Line Items]
Total revenue	129,100	157,058	113,580
Income (loss) before income taxes	$ 51,359	$ 67,212	$ 103,751

SEGMENT INFORMATION - Geographic Segment Information (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Revenue, Major Customer [Line Items]
Total property, plant, and equipment, net	$ 734,810	$ 776,813
United States
Revenue, Major Customer [Line Items]
Total property, plant, and equipment, net	481,908	492,766
Singapore
Revenue, Major Customer [Line Items]
Total property, plant, and equipment, net	89,015	100,259
Canada
Revenue, Major Customer [Line Items]
Total property, plant, and equipment, net	70,132	77,501
Other Countries
Revenue, Major Customer [Line Items]
Total property, plant, and equipment, net	$ 93,755	$ 106,287

SEGMENT INFORMATION - Other Business Segment Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Capital expenditures	$ 102,808	$ 84,464	$ 45,163
Depreciation and amortization	241,880	237,285	214,362
Reporting segments \| Production Chemical Technologies
Segment Reporting Information [Line Items]
Capital expenditures	41,782	38,915	10,498
Depreciation and amortization	91,875	98,049	58,328
Reporting segments \| Production & Automation Technologies
Segment Reporting Information [Line Items]
Capital expenditures	56,363	40,137	32,100
Depreciation and amortization	103,592	101,575	130,725
Reporting segments \| Drilling Technologies
Segment Reporting Information [Line Items]
Capital expenditures	3,732	2,826	1,736
Depreciation and amortization	6,639	7,295	7,940
Reporting segments \| Reservoir Chemical Technologies
Segment Reporting Information [Line Items]
Depreciation and amortization	14,662	10,295	5,741
Corporate and other
Segment Reporting Information [Line Items]
Capital expenditures	931	2,586	829
Depreciation and amortization	$ 25,112	$ 20,071	$ 11,628

REVENUE - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Total revenue	$ 3,805,948	$ 3,074,990	$ 1,899,996
United States
Disaggregation of Revenue [Line Items]
Total revenue	1,934,716	1,567,355	964,817
Latin America
Disaggregation of Revenue [Line Items]
Total revenue	633,487	402,801	231,811
Middle East & Africa
Disaggregation of Revenue [Line Items]
Total revenue	409,890	358,535	240,198
Canada
Disaggregation of Revenue [Line Items]
Total revenue	386,762	339,369	173,002
Europe
Disaggregation of Revenue [Line Items]
Total revenue	245,975	214,099	152,595
Asia-Pacific
Disaggregation of Revenue [Line Items]
Total revenue	84,428	84,372	54,021
Australia
Disaggregation of Revenue [Line Items]
Total revenue	56,516	63,104	54,842
Other
Disaggregation of Revenue [Line Items]
Total revenue	54,174	45,355	28,710
Corporate and other
Disaggregation of Revenue [Line Items]
Total revenue	129,100	157,058	113,580
Corporate and other \| United States
Disaggregation of Revenue [Line Items]
Total revenue	76,461	105,855	72,948
Corporate and other \| Latin America
Disaggregation of Revenue [Line Items]
Total revenue	3,100	4,741	3,650
Corporate and other \| Middle East & Africa
Disaggregation of Revenue [Line Items]
Total revenue	2,314	8,896	15,254
Corporate and other \| Canada
Disaggregation of Revenue [Line Items]
Total revenue	116	342	640
Corporate and other \| Europe
Disaggregation of Revenue [Line Items]
Total revenue	13,936	11,617	12,052
Corporate and other \| Asia-Pacific
Disaggregation of Revenue [Line Items]
Total revenue	33,173	25,607	9,041
Corporate and other \| Australia
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0
Corporate and other \| Other
Disaggregation of Revenue [Line Items]
Total revenue	0	0	(5)
Production Chemical Technologies \| Reporting segments
Disaggregation of Revenue [Line Items]
Total revenue	2,347,526	1,842,400	992,805
Production Chemical Technologies \| Reporting segments \| United States
Disaggregation of Revenue [Line Items]
Total revenue	851,057	653,826	318,460
Production Chemical Technologies \| Reporting segments \| Latin America
Disaggregation of Revenue [Line Items]
Total revenue	594,737	364,386	202,177
Production Chemical Technologies \| Reporting segments \| Middle East & Africa
Disaggregation of Revenue [Line Items]
Total revenue	307,154	268,096	164,480
Production Chemical Technologies \| Reporting segments \| Canada
Disaggregation of Revenue [Line Items]
Total revenue	296,623	263,887	129,210
Production Chemical Technologies \| Reporting segments \| Europe
Disaggregation of Revenue [Line Items]
Total revenue	194,034	180,269	116,192
Production Chemical Technologies \| Reporting segments \| Asia-Pacific
Disaggregation of Revenue [Line Items]
Total revenue	35,536	43,593	28,023
Production Chemical Technologies \| Reporting segments \| Australia
Disaggregation of Revenue [Line Items]
Total revenue	21,866	28,388	13,225
Production Chemical Technologies \| Reporting segments \| Other
Disaggregation of Revenue [Line Items]
Total revenue	46,519	39,955	21,038
Production & Automation Technologies \| Reporting segments
Disaggregation of Revenue [Line Items]
Total revenue	954,646	762,371	615,918
Production & Automation Technologies \| Reporting segments \| United States
Disaggregation of Revenue [Line Items]
Total revenue	738,178	583,010	458,690
Production & Automation Technologies \| Reporting segments \| Latin America
Disaggregation of Revenue [Line Items]
Total revenue	21,756	18,454	21,679
Production & Automation Technologies \| Reporting segments \| Middle East & Africa
Disaggregation of Revenue [Line Items]
Total revenue	66,918	53,995	45,026
Production & Automation Technologies \| Reporting segments \| Canada
Disaggregation of Revenue [Line Items]
Total revenue	73,561	58,927	32,709
Production & Automation Technologies \| Reporting segments \| Europe
Disaggregation of Revenue [Line Items]
Total revenue	13,655	6,088	10,521
Production & Automation Technologies \| Reporting segments \| Asia-Pacific
Disaggregation of Revenue [Line Items]
Total revenue	6,170	7,229	5,549
Production & Automation Technologies \| Reporting segments \| Australia
Disaggregation of Revenue [Line Items]
Total revenue	34,318	34,451	41,233
Production & Automation Technologies \| Reporting segments \| Other
Disaggregation of Revenue [Line Items]
Total revenue	90	217	511
Drilling Technologies \| Reporting segments
Disaggregation of Revenue [Line Items]
Total revenue	229,479	172,066	116,186
Drilling Technologies \| Reporting segments \| United States
Disaggregation of Revenue [Line Items]
Total revenue	180,912	136,351	82,812
Drilling Technologies \| Reporting segments \| Latin America
Disaggregation of Revenue [Line Items]
Total revenue	7	0	22
Drilling Technologies \| Reporting segments \| Middle East & Africa
Disaggregation of Revenue [Line Items]
Total revenue	6,628	5,408	1,146
Drilling Technologies \| Reporting segments \| Canada
Disaggregation of Revenue [Line Items]
Total revenue	14,529	13,474	9,029
Drilling Technologies \| Reporting segments \| Europe
Disaggregation of Revenue [Line Items]
Total revenue	20,911	11,810	11,840
Drilling Technologies \| Reporting segments \| Asia-Pacific
Disaggregation of Revenue [Line Items]
Total revenue	6,434	3,358	9,141
Drilling Technologies \| Reporting segments \| Australia
Disaggregation of Revenue [Line Items]
Total revenue	33	130	110
Drilling Technologies \| Reporting segments \| Other
Disaggregation of Revenue [Line Items]
Total revenue	25	1,535	2,086
Reservoir Chemical Technologies \| Reporting segments
Disaggregation of Revenue [Line Items]
Total revenue	145,197	141,095	61,507
Reservoir Chemical Technologies \| Reporting segments \| United States
Disaggregation of Revenue [Line Items]
Total revenue	88,108	88,313	31,907
Reservoir Chemical Technologies \| Reporting segments \| Latin America
Disaggregation of Revenue [Line Items]
Total revenue	13,887	15,220	4,283
Reservoir Chemical Technologies \| Reporting segments \| Middle East & Africa
Disaggregation of Revenue [Line Items]
Total revenue	26,876	22,140	14,292
Reservoir Chemical Technologies \| Reporting segments \| Canada
Disaggregation of Revenue [Line Items]
Total revenue	1,933	2,739	1,414
Reservoir Chemical Technologies \| Reporting segments \| Europe
Disaggregation of Revenue [Line Items]
Total revenue	3,439	4,315	1,990
Reservoir Chemical Technologies \| Reporting segments \| Asia-Pacific
Disaggregation of Revenue [Line Items]
Total revenue	3,115	4,585	2,267
Reservoir Chemical Technologies \| Reporting segments \| Australia
Disaggregation of Revenue [Line Items]
Total revenue	299	135	274
Reservoir Chemical Technologies \| Reporting segments \| Other
Disaggregation of Revenue [Line Items]
Total revenue	$ 7,540	$ 3,648	$ 5,080

REVENUE - Contract Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract assets	$ 0	$ 0
Contract liabilities	$ 14,113	$ 15,246

PROPERTY, PLANT, AND EQUIPMENT - PPE (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,428,036	$ 1,395,680
Accumulated depreciation	(693,226)	(618,867)
Property, plant and equipment, net	734,810	776,813
Land and land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	125,531	134,913
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	308,278	309,821
Software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	55,400	44,295
Machinery, equipment and other
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 938,827	$ 906,651

PROPERTY, PLANT, AND EQUIPMENT - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 154.6	$ 149.8	$ 142.6

GOODWILL AND INTANGIBLE ASSETS - Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Roll Forward]
Goodwill, beginning of period		$ 702,867	$ 680,594
Acquisition		6,345	16,393
Allocated to disposal group		(2,695)
Impairment		(39,617)	0	$ (616,271)
Foreign currency translation		12,588	5,880
Goodwill, end of period	$ 679,488	679,488	702,867	680,594
Production Chemical Technologies
Goodwill [Roll Forward]
Goodwill, beginning of period		356,638	351,057
Acquisition		0	2,500
Allocated to disposal group		(2,695)
Impairment		0
Foreign currency translation		13,141	3,081
Goodwill, end of period	367,084	367,084	356,638	351,057
Production & Automation Technologies
Goodwill [Roll Forward]
Goodwill, beginning of period		205,467	191,537
Acquisition		6,345	13,893
Allocated to disposal group		0
Impairment		0
Foreign currency translation		(544)	37
Goodwill, end of period	211,268	211,268	205,467	191,537
Drilling Technologies
Goodwill [Roll Forward]
Goodwill, beginning of period		101,136	101,136
Acquisition		0	0
Allocated to disposal group		0
Impairment		0
Foreign currency translation		0	0
Goodwill, end of period	101,136	101,136	101,136	101,136
Reservoir Chemical Technologies
Goodwill [Roll Forward]
Goodwill, beginning of period		39,626	36,864
Acquisition		0	0
Allocated to disposal group		0
Impairment	(39,600)	(39,617)
Foreign currency translation		(9)	2,762
Goodwill, end of period	$ 0	$ 0	$ 39,626	$ 36,864

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment		$ 39,617	$ 0	$ 616,271
Identifiable intangible assets recognized			10,200
Amortization of intangible assets		87,300	$ 87,400	$ 70,900
Reservoir Chemical Technologies
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment	$ 39,600	$ 39,617

GOODWILL AND INTANGIBLE ASSETS - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 885,531	$ 898,780
Accumulated Amortization	585,321	502,110
Net Carrying Amount	300,210	396,670
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	4,800	4,800
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	890,331	903,580
Accumulated Amortization	585,321	502,110
Net Carrying Amount	305,010	401,470
Trademarks
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	3,600	3,600
In-process research and development
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	1,200	1,200
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	582,466	593,242
Accumulated Amortization	407,212	365,773
Net Carrying Amount	175,254	227,469
Impairment of intangible assets (excluding goodwill)	5,500
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	407,212	365,773
Unpatented technologies
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	142,760	142,540
Accumulated Amortization	56,264	37,264
Net Carrying Amount	86,496	105,276
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	56,264	37,264
Favorable supply agreement
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	57,000	59,000
Accumulated Amortization	49,056	30,546
Net Carrying Amount	7,944	28,454
Impairment of intangible assets (excluding goodwill)	1,300
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	49,056	30,546
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	59,856	59,873
Accumulated Amortization	36,048	32,270
Net Carrying Amount	23,808	27,603
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	36,048	32,270
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	38,175	38,735
Accumulated Amortization	31,481	31,080
Net Carrying Amount	6,694	7,655
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	31,481	31,080
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	5,274	5,390
Accumulated Amortization	5,260	5,177
Net Carrying Amount	14	213
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ 5,260	$ 5,177

GOODWILL AND INTANGIBLE ASSETS - Amortization Expense (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2023	$ 61,281
2024	48,265
2025	37,196
2026	36,838
2027	$ 25,763

DEBT - Schedule of Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Jun. 07, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Aggregate principal outstanding	$ 648,438		$ 728,766
Net unamortized discounts and issuance costs	(20,486)		(4,259)
Total long-term debt	627,952		724,507
Current portion of long-term debt	(6,250)		(26,850)
Long-term debt, less current portion	621,702		697,657
Revolving Credit Facility \| 2022 Revolving Credit Facility
Debt Instrument [Line Items]
Aggregate principal outstanding	25,000		0
Term Loan Facility \| 2018 Term Loan Facility
Debt Instrument [Line Items]
Aggregate principal outstanding	0		140,000
Term Loan Facility \| 2020 Term Loan Facility
Debt Instrument [Line Items]
Aggregate principal outstanding	0		496,725
Term Loan Facility \| 2022 Term Loan Facility
Debt Instrument [Line Items]
Aggregate principal outstanding	$ 623,438		$ 0
Senior Notes \| 6.375% Senior Notes due 2026
Debt Instrument [Line Items]
Debt interest rate	6.375%	6.375%	6.375%
Aggregate principal outstanding	$ 0		$ 92,041

DEBT - Narrative (Details) - USD ($)					12 Months Ended
DEBT - Narrative (Details) - USD ($)	Jun. 29, 2022	Jun. 07, 2022	Jun. 03, 2020	May 09, 2018	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	May 03, 2018
Debt Instrument [Line Items]
Total					$ 648,438,000	$ 728,766,000
Interest rate swaps \| Designated as Hedging Instrument
Debt Instrument [Line Items]
Derivative, term of contract (in years)	5 years
Interest Rate Swap, First Three Years \| Designated as Hedging Instrument
Debt Instrument [Line Items]
Notional value of foreign currency forward contracts and interest rate swaps	$ 300,000,000
Interest Rate Swap, Years Four And Five \| Designated as Hedging Instrument
Debt Instrument [Line Items]
Notional value of foreign currency forward contracts and interest rate swaps	$ 150,000,000
2018 Term Loan Facility \| Term Loan Facility
Debt Instrument [Line Items]
Debt instrument, term (in years)				7 years
Principal amount of debt issued				$ 415,000,000
Total					0	140,000,000
2020 Term Loan Facility
Debt Instrument [Line Items]
Payments to fund merger			$ 527,400,000
2020 Term Loan Facility \| Term Loan Facility
Debt Instrument [Line Items]
Principal amount of debt issued			$ 537,000,000
Total					0	496,725,000
2022 Term Loan Facility \| Term Loan Facility
Debt Instrument [Line Items]
Debt instrument, term (in years)		7 years
Principal amount of debt issued		$ 625,000,000
Total					623,438,000	0
Mandatory amortization payment, percent per annum		1.00%
2022 Revolving Credit Facility \| Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, term (in years)		5 years
Maximum borrowing capacity		$ 700,000,000
Proceeds from lines of credit		135,000,000
Total					$ 25,000,000	$ 0
2022 Revolving Credit Facility \| Credit Facility \| Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 100,000,000
6.375% Senior Notes due 2026
Debt Instrument [Line Items]
Aggregate principal amount repurchased							$ 185,000,000
Payments to repurchase debt, cash payments							196,600,000
Payments to repurchase debt, accrued interest							2,700,000
Loss on repurchase of debt							$ 11,100,000
6.375% Senior Notes due 2026 \| Senior Notes
Debt Instrument [Line Items]
Principal amount of debt issued								$ 300,000,000
Debt interest rate		6.375%			6.375%	6.375%
Total					$ 0	$ 92,041,000
Redemption price, percentage of principal amount of debt		103.188%				104.781%
Aggregate principal amount repurchased		$ 92,000,000
Payments to repurchase debt, cash payments		95,600,000
Payments to repurchase debt, accrued interest		$ 600,000
Loss on repurchase of debt					$ 3,900,000

DEBT - Aggregate Contractual Future Principal Payments (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Debt Disclosure [Abstract]
2023	$ 6,250
2024	6,250
2025	6,250
2026	6,250
2027	31,250
Thereafter	592,188
Total	$ 648,438

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

COMMITMENTS AND CONTINGENCIES - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) location	Dec. 31, 2021 USD ($)	Dec. 31, 2019 USD ($)
Loss Contingencies [Line Items]
Outstanding letters of credit	$ 82.4	$ 80.2
Number of locations \| location	11
Environmental loss contingency, noncurrent, statement of financial position, extensible enumeration, not disclosed flag	true
Accrued liabilities for remediation	$ 5.9	6.8
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	$ 14.6	$ 14.1
Oklahoma Department of Environmental Quality
Loss Contingencies [Line Items]
Accrued liabilities for remediation			$ 2.0

LEASES - Schedule of Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Finance lease, right-of-use asset	$ 17,435	$ 8,048
Operating lease right-of-use assets	92,928	115,458
Total lease right-of-use assets	110,363	123,506
Finance leases - current	5,983	4,006
Finance leases	11,955	4,498
Current portion of operating lease liabilities	28,838	36,389
Operating lease liabilities	59,686	73,521
Total lease liability	$ 106,462	$ 118,414
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities	Other long-term liabilities

LEASES - Lease Cost and Other Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Finance lease cost, amortization of right-of-use assets	$ 6,024	$ 5,855
Finance lease cost, interest on lease liabilities	695	510
Operating lease cost	42,365	41,113
Short-term and variable lease cost	24,291	21,756
Sublease income	0	(18)
Total lease cost	$ 73,375	$ 69,216
Operating lease, weighted-average remaining lease term (in years)	6 years 6 months	6 years 10 months 24 days
Finance lease, weighted-average remaining lease term (in years)	3 years 6 months	2 years 8 months 12 days
Operating lease, weighted-average discount rate (in percent)	5.90%	5.30%
Finance lease, weighted-average discount rate (in percent)	5.70%	5.00%

LEASES - Schedule of Future Minimum Payments (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Operating
2023	$ 34,751
2024	26,651
2025	16,470
2026	8,534
2027	5,244
Thereafter	18,118
Total future minimum lease payments	109,768
Interest included within lease payments	(21,244)
Total lease liabilities	88,524
Finance
2023	6,539
2024	5,850
2025	3,754
2026	2,050
2027	1,519
Thereafter	247
Total future minimum lease payments	19,959
Interest included within lease payments	(2,021)
Total lease liabilities	$ 17,938

LEASES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
LEASES - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Lease revenue	$ 71.1	$ 65.4
Equipment Leased Assets
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 47.2	$ 43.7
Minimum
Property, Plant and Equipment [Line Items]
Lessor, term of leases	12 months
Maximum
Property, Plant and Equipment [Line Items]
Lessor, term of leases	14 months

LEASES - Leased Assets (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES - Leased Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	$ 1,428,036	$ 1,395,680
Accumulated depreciation	(693,226)	(618,867)
Property, plant and equipment, net	734,810	$ 776,813
Equipment Leased Assets
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	187,397
Accumulated depreciation	(115,161)
Property, plant and equipment, net	$ 72,236
Cable equipment
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)	18 months
Property, plant, and equipment	$ 56,957
Downhole equipment
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)	18 months
Property, plant, and equipment	$ 31,186
Surface equipment
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)	5 years
Property, plant, and equipment	$ 87,030
Other lease equipment
Property, Plant and Equipment [Line Items]
Property, plant, and equipment	$ 12,224
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 - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Decrease in restructuring reserve	$ 22,900
Restructuring charges		$ 68,102	$ 13,274	$ 23,291

RESTRUCTURING - Schedule of Restructuring and Other Related Charges (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 68,102	$ 13,274	$ 23,291
Cost of goods and services
Restructuring Cost and Reserve [Line Items]
Restructuring charges	47,216	6,554	13,955
Selling, general and administrative expense
Restructuring Cost and Reserve [Line Items]
Restructuring charges	20,886	6,720	9,336
Reporting segments \| Production Chemical Technologies
Restructuring Cost and Reserve [Line Items]
Restructuring charges	13,899	6,508	5,241
Reporting segments \| Production & Automation Technologies
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,111	5,441	11,814
Reporting segments \| Drilling Technologies
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	5,521
Reporting segments \| Reservoir Chemical Technologies
Restructuring Cost and Reserve [Line Items]
Restructuring charges	47,692	415	348
Corporate and other
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 5,400	$ 910	$ 367

RESTRUCTURING - Restructuring Reserve Rollforward (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 3,743
Restructuring charges	68,102
Asset sales and write-offs	(16,718)
Payments	(26,548)
Other, including foreign currency translation	(61)
Ending balance	$ 28,518

EMPLOYEE BENEFIT PLANS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Retirement Benefits [Abstract]
Net actuarial gain (loss) arising during period	$ 2.9	$ 8.5	$ (5.5)
Unfunded liability	9.1	13.9
Defined benefit plan, net periodic benefit expense	$ 1.3	$ 2.5	$ 3.2

EQUITY AND CASH INCENTIVE PROGRAMS - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved and authorized for issuance (in shares)	31,400,000	18,200,000
Compensation costs	$ 15,597,000	$ 17,921,000	$ 15,058,000
Unrecognized compensation costs related to options	0
Total intrinsic value of stock options exercised	37,100,000
Proceeds from exercise of stock options	10,132,000	$ 8,819,000	$ 886,000
Tax benefit from stock options exercised	$ 4,200,000
Legacy ChampionX
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	2 years
Compensation costs	$ 15,800,000
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Expiration period	10 years
Unrecognized compensation expense not yet exercisable	$ 0
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense not yet exercisable	$ 8,100,000
Granted (in shares)	347,920
Weighted average period (in years)	1 year 8 months 12 days
Performance Shares \| Market Vesting Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Granted (in shares)	173,960	166,519	121,261
Performance Shares \| Performance Vesting Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	173,960	166,519	0
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense not yet exercisable	$ 20,700,000
Granted (in shares)	975,484
Weighted average period (in years)	1 year
Restricted Stock Units (RSUs) \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Restricted Stock Units (RSUs) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	4 years

EQUITY AND CASH INCENTIVE PROGRAMS - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-Based Payment Arrangement [Abstract]
Stock-based compensation expense	$ 20,089	$ 23,178	$ 19,536
Tax benefit	(4,492)	(5,257)	(4,478)
Stock-based compensation expense, net of tax	$ 15,597	$ 17,921	$ 15,058

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, 2022 USD ($) $ / shares shares
Shares
Number of shares outstanding, beginning of the period (in shares) \| shares	393,523
Forfeited / expired (in shares) \| shares	(1,758)
Exercised (in shares) \| shares	(105,659)
Number of shares outstanding, end of the period (in shares) \| shares	286,106
Number of shares, exercisable (in shares) \| shares	286,106
Weighted-Average Exercise Price
Weighted average exercise price outstanding, beginning of the period (in dollars per share) \| $ / shares	$ 29.94
Forfeited / expired (in dollars per share) \| $ / shares	34.13
Exercised (in dollars per share) \| $ / shares	24.94
Weighted average exercise price outstanding, end of the period (in dollars per share) \| $ / shares	31.77
Weighted average exercise price exercisable (in dollars per share) \| $ / shares	$ 31.77
Weighted average remaining contractual term, outstanding (years)	3 years 3 months 18 days
Weighted average remaining contractual term, exercisable (in years)	3 years 3 months 18 days
Aggregate intrinsic value \| $	$ 250
Aggregate intrinsic value, exercisable \| $	$ 250

EQUITY AND CASH INCENTIVE PROGRAMS - Other Information Regarding the Exercise of SARs (Details) - Stock Appreciation Rights (SARs) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of SARs that became exercisable	$ 0	$ 0	$ 878
Aggregate intrinsic value of SARs exercised	$ 634	$ 71	$ 0

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, 2022	Dec. 31, 2021	Dec. 31, 2020
Market Vesting Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value at date of grant (in dollars per share)	$ 23.90	$ 26.32	$ 14.55
Performance Vesting Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value at date of grant (in dollars per share)	$ 20.55	$ 17.61
Average attainment rate reflected in expense	100.00%	100.00%

EQUITY AND CASH INCENTIVE PROGRAMS - Summary of Activity for Performance Share Awards (Details) - Performance shares	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Shares
Number of shares outstanding, beginning of the period (in shares) \| shares	505,509
Granted (in shares) \| shares	347,920
Forfeited (in shares) \| shares	(6,022)
Vested (in shares) \| shares	(72,410)
Number of shares outstanding, end of the period (in shares) \| shares	774,997
Weighted-Average Grant-Date Fair Value
Weighted average grant-date fair value, outstanding beginning of the period (in dollars per share) \| $ / shares	$ 24.26
Granted (in dollars per share) \| $ / shares	22.23
Forfeited (in dollars per share) \| $ / shares	22.10
Vested (in dollars per share) \| $ / shares	48.83
Weighted average grant-date fair value, outstanding end of the period (in dollars per share) \| $ / shares	$ 21.07

EQUITY AND CASH INCENTIVE PROGRAMS - Summary of Activity for Restricted Stock Units (Details) - Restricted Stock Units (RSUs)	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Shares
Number of shares outstanding, beginning of the period (in shares) \| shares	2,342,107
Granted (in shares) \| shares	975,484
Forfeited (in shares) \| shares	(240,094)
Vested (in shares) \| shares	(1,280,277)
Number of shares outstanding, end of the period (in shares) \| shares	1,797,220
Weighted-Average Grant-Date Fair Value
Weighted average grant-date fair value, outstanding beginning of the period (in dollars per share) \| $ / shares	$ 14.49
Granted (in dollars per share) \| $ / shares	20.99
Forfeited (in dollars per share) \| $ / shares	15.92
Vested (in dollars per share) \| $ / shares	14.38
Weighted average grant-date fair value, outstanding end of the period (in dollars per share) \| $ / shares	$ 18.64

EQUITY AND CASH INCENTIVE PROGRAMS - Non-Qualified Stock Options (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares shares
Shares
Options outstanding, balance at the beginning of the period (in shares) \| shares	5,488,653
Options granted (in shares) \| shares	0
Options forfeited/expired (in shares) \| shares	(2,859)
Options exercised (in shares) \| shares	(1,748,137)
Options outstanding, balance at the end of the period (in shares) \| shares	3,737,657
Options exercisable (in shares) \| shares	3,737,657
Weighted Average Exercise Price
Options outstanding, balance at the beginning of the period (in dollars per share) \| $ / shares	$ 6.18
Options granted (in dollars per share) \| $ / shares	0
Options forfeited/expired (in dollars per share) \| $ / shares	7.54
Options exercised (in dollars per share) \| $ / shares	5.82
Options outstanding, balance at the end of the period (in dollars per share) \| $ / shares	6.35
Options exercisable, weighted-average exercise price (in dollars per share) \| $ / shares	$ 6.35
Weighted-average remaining contractual term, outstanding at end of period (in years)	4 years 2 months 12 days
Options exercisable, weighted average remaining contractual term (in years)	4 years 2 months 12 days
Aggregate intrinsic value, at end of period \| $	$ 84,004
Aggregate intrinsic value, options \| $	$ 84,004

STOCKHOLDERS' EQUITY - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands			12 Months Ended
	Nov. 10, 2022	Feb. 04, 2022	Dec. 31, 2022	Oct. 24, 2022	Mar. 07, 2022
Equity [Abstract]
Approved quarterly cash dividend (in dollars per share)		$ 0.075
Dividends declared to common shareholders (in dollars per share)	$ 0.075		$ 0.30
Authorized amount of stock repurchase				$ 750,000	$ 250,000
Repurchase and cancellation of common stock (in shares)			7,080,781
Average price of common stock repurchased (in dollars per share)			$ 25.42
Value of repurchased common stock			$ 180,142

STOCKHOLDERS' EQUITY - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,754,307	$ 1,612,575	$ 1,036,214
Other comprehensive income (loss) before reclassifications, net of tax	(8,155)	7,848
Reclassification adjustment for net losses included in net income, net of tax	250	1,282
Other comprehensive income (loss), net of tax	(7,905)	9,130	13,282
Ending balance	1,677,215	1,754,307	1,612,575
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(21,625)	(30,755)	(44,037)
Other comprehensive income (loss), net of tax	(7,905)	9,130	13,282
Ending balance	(29,530)	(21,625)	(30,755)
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(19,430)	(14,965)
Other comprehensive income (loss) before reclassifications, net of tax	(18,592)	(4,465)
Reclassification adjustment for net losses included in net income, net of tax	0	0
Other comprehensive income (loss), net of tax	(18,592)	(4,465)
Ending balance	(38,022)	(19,430)	(14,965)
Defined Pension and Other Post-Retirement Benefits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(3,476)	(13,470)
Other comprehensive income (loss) before reclassifications, net of tax	2,879	8,712
Reclassification adjustment for net losses included in net income, net of tax	250	1,282
Other comprehensive income (loss), net of tax	3,129	9,994
Ending balance	(347)	(3,476)	(13,470)
Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	1,281	(2,320)
Other comprehensive income (loss) before reclassifications, net of tax	7,558	3,601
Reclassification adjustment for net losses included in net income, net of tax	0	0
Other comprehensive income (loss), net of tax	7,558	3,601
Ending balance	$ 8,839	$ 1,281	$ (2,320)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669619-108580

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124442407-227067

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=126973232&loc=d3e21463-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32136-110900

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 55
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=124507222&loc=d3e1436-108581

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124442411-227067

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669625-108580

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

+ 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 45
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=124436220&loc=d3e21930-107793

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI https://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 45
-Paragraph 23
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124436220&loc=d3e21914-107793

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124442411-227067

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=122640432&loc=SL121648383-210437

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 105
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126987489&loc=SL124442142-165695

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 105
-SubTopic 10
-Section 65
-Paragraph 6
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126987489&loc=SL124442142-165695

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 16
-URI https://asc.fasb.org/extlink&oid=126929396&loc=SL4568740-111683

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(3)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 45
-Paragraph 5
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124436220&loc=d3e21711-107793

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (d)(2)
-URI https://asc.fasb.org/extlink&oid=126983759&loc=SL121830611-158277

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 848
-SubTopic 10
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(03)
-URI https://asc.fasb.org/extlink&oid=125980421&loc=SL125981372-237846

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 17
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32136-110900

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (d)(3)
-URI https://asc.fasb.org/extlink&oid=126983759&loc=SL121830611-158277

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (f)(2)
-URI https://asc.fasb.org/extlink&oid=128097895&loc=SL121327923-165333

Reference 22: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4I
-URI https://asc.fasb.org/extlink&oid=120409616&loc=SL4590271-111686

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-URI https://asc.fasb.org/extlink&oid=124501264&loc=SL117420844-207641

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

Reference 25: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126929396&loc=SL4568447-111683

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (f)(1)
-URI https://asc.fasb.org/extlink&oid=128097895&loc=SL121327923-165333

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=128097895&loc=SL121327923-165333

+ Details

STOCKHOLDERS' EQUITY - Reclassifications from Accumulated Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expense, net	$ 6,262	$ 6,443	$ (828)
Income before income taxes	(196,806)	(152,685)	762,749
Provision for (benefit from) income taxes	40,243	38,445	(20,396)
Net income	(156,563)	(114,240)	742,353
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	354	1,609	1,190
Provision for (benefit from) income taxes	(104)	(327)	(329)
Net income	250	1,282	861
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	340	1,532	492
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	14	77	0
Settlement loss \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expense, net	$ 0	$ 0	$ 698

EARNINGS PER SHARE - Narrative (Details) - shares shares in Millions		12 Months Ended
	Jun. 03, 2020	Dec. 31, 2022	Dec. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially diluted securities excluded as anti-dilutive (in shares)		0.4	0.4
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, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Net income (loss) attributable to ChampionX	$ 154,969	$ 113,299	$ (743,930)
Weighted-average number of shares outstanding (in shares)	201,740	201,579	148,370
Dilutive effect of stock-based compensation (in shares)	5,519	6,746	0
Total shares and dilutive securities (in shares)	207,259	208,325	148,370
Basic earnings per share attributable to ChampionX (in dollars per share)	$ 0.77	$ 0.56	$ (5.01)
Diluted earnings per share attributable to ChampionX (in dollars per share)	$ 0.75	$ 0.54	$ (5.01)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1448-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1337-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e4984-109258

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e3842-109258

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1252-109256

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e4984-109258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=128363288&loc=d3e3842-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1337-109256

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

+ Details

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126732423&loc=SL123482106-238011

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=124431353&loc=SL124452729-227067

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI https://asc.fasb.org/extlink&oid=126954810&loc=d3e3602-108585

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 20: 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 https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126958026&loc=SL5780133-109256

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669619-108580

Reference 25: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1B
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669625-108580

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442526-122756

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI https://asc.fasb.org/extlink&oid=126975872&loc=SL124442552-122756

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

+ Details

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Jun. 07, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	$ 15,542		$ 4,081
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Liabilities
Derivative liabilities	$ 4,209		3,773
Carrying Amount	$ 648,438		728,766
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Assets
Credit Facility \| 2022 Revolving Credit Facility \| Revolving Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	$ 25,000		0
Fair Value	25,000		0
Term Loan Facility \| 2018 Term Loan Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	0		140,000
Term Loan Facility \| 2020 Term Loan Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	0		496,725
Term Loan Facility \| 2022 Term Loan Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	$ 623,438		$ 0
Senior Notes \| 6.375% Senior Notes due 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt interest rate	6.375%	6.375%	6.375%
Carrying Amount	$ 0		$ 92,041
Fair Value	0		95,805
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	15,542		4,081
Derivative liabilities	4,209		3,773
Level 2 \| Term Loan Facility \| 2018 Term Loan Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0		138,950
Level 2 \| Term Loan Facility \| 2020 Term Loan Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0		502,313
Level 2 \| Term Loan Facility \| 2022 Term Loan Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	610,969		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	7,066		4,081
Derivative liabilities	4,209		3,773
Level 2 \| Interest rate swaps \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	8,476		0
Derivative liabilities	$ 0		$ 0

DERIVATIVES AND HEDGING TRANSACTIONS - Schedule of Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Derivative Assets
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other current assets	Prepaid expenses and other current assets
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Assets, Noncurrent	Other Assets, Noncurrent
Derivative asset, current	$ 11,911	$ 4,081
Derivative asset, noncurrent	3,631	0
Derivative assets	$ 15,542	$ 4,081
Derivative Liabilities
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities	Other long-term liabilities
Derivative liability, current	$ 4,209	$ 3,773
Derivative liability, noncurrent	0	0
Derivative liabilities	$ 4,209	$ 3,773

DERIVATIVES AND HEDGING TRANSACTIONS - Schedule of Derivative Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Foreign Exchange Forward Contracts and Interest Rate Swap
Derivative [Line Items]
Notional value of foreign currency forward contracts and interest rate swaps	$ 965,973	$ 704,190

DERIVATIVES AND HEDGING TRANSACTIONS - Schedule of Gain (Loss) on Derivative Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total loss of derivative instruments	$ 6,031	$ 7,306	$ 863
Cost of goods and services \| Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total loss of derivative instruments	(1,665)	3,717	171
Interest expense \| Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total loss of derivative instruments	549	0	0
Other expense (income), net \| Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total loss of derivative instruments	$ 7,147	$ 3,589	$ 692

INCOME TAXES - Components of Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Domestic	$ 58,141	$ (2,099)	$ (811,995)
Foreign	138,665	154,784	49,246
Income (loss) before income taxes	$ 196,806	$ 152,685	$ (762,749)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=126941158&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI https://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

INCOME TAXES - Provision for (Benefit From) Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current:
U.S. federal	$ 49,997	$ 14,895	$ 1,578
State and local	11,147	4,867	1,579
Foreign	24,381	40,149	20,264
Total current	85,525	59,911	23,421
Deferred:
U.S. federal	(35,207)	(24,962)	(32,454)
State and local	(4,900)	(862)	(6,738)
Foreign	(5,175)	4,358	(4,625)
Total deferred	(45,282)	(21,466)	(43,817)
Provision for (benefit from) income taxes	$ 40,243	$ 38,445	$ (20,396)

INCOME TAXES - Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
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	0.60%	2.10%	0.50%
Foreign withholding tax	5.70%	8.50%	(1.20%)
Foreign derived intangible income	(1.00%)	(0.70%)	0.00%
Foreign operations tax effect	2.80%	(1.30%)	(0.40%)
Research and experimentation tax credits	(1.50%)	(2.50%)	0.40%
Foreign tax credit	(4.50%)	(9.90%)	0.00%
Nondeductible expenses	0.50%	1.60%	(0.60%)
Branch income	3.50%	7.60%	(0.70%)
Tax return to accrual adjustments	(2.10%)	(7.30%)	0.10%
State deferred taxes	(1.00%)	0.00%	0.20%
Goodwill impairment	1.80%	0.00%	(15.50%)
Foreign inclusions (including global intangible low-taxed income)	3.50%	6.60%	(0.70%)
Transaction costs	0.00%	0.00%	(0.60%)
Change in valuation allowance	(7.30%)	1.80%	(0.50%)
Stock compensation	(3.60%)	(3.70%)	0.00%
Nondeductible officer compensation	0.80%	2.10%	0.00%
Other	1.20%	(0.70%)	0.70%
Effective income tax rate	20.40%	25.20%	2.70%

INCOME TAXES - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets attributable to:
Accrued compensation	$ 11,840	$ 12,395
Accrued expenses	7,713	8,020
Inventories	5,969	830
Net operating loss and other carryforwards	32,648	32,420
Accounts receivable	17,739	18,301
Lease liability	11,294	16,573
Research and Development	14,652	0
Long-term liabilities	1,141	0
Other assets	1,577	7,687
Deferred tax assets	104,573	96,226
Valuation allowance	(32,500)	(38,716)
Deferred tax assets, net of valuation allowance	72,073	57,510
Deferred tax liabilities attributable to:
Inventories	(4,338)	0
Intangible assets, including goodwill	(54,572)	(70,799)
Property, plant and equipment	(63,502)	(69,971)
Foreign withholding taxes	(16,922)	(20,239)
Lease asset	(12,792)	(18,346)
Investment in subsidiary	(1,973)	(2,014)
Long-term liabilities	0	(1,100)
Deferred tax liabilities	(154,099)	(182,469)
Net deferred tax liabilities	(82,026)	(124,959)
Assets held for sale	3,165	0
Other non-current assets	10,742	13,012
Liabilities held for sale	(1,698)	0
Deferred income taxes	$ (94,235)	$ (137,971)

INCOME TAXES - Narrative (Details) - USD ($)	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Valuation Allowance [Line Items]
Effective income tax rate	20.40%	25.20%	2.70%
Net operating loss carryforwards, foreign	$ 7,800,000
Foreign tax credit carryforwards	24,300,000
Valuation allowance	32,500,000	$ 38,716,000
Unrecognized tax benefits	0
Accrued foreign withholding taxes on undistributed foreign earnings	16,922,000	$ 20,239,000
Foreign Deferred Tax Assets
Valuation Allowance [Line Items]
Valuation allowance	11,700,000
Foreign Tax Credits
Valuation Allowance [Line Items]
Valuation allowance	$ 20,800,000

RELATED PARTY TRANSACTIONS - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Payments of ordinary dividends, noncontrolling interest	$ 3,016	$ 3,718	$ 2,175
Proceeds from sale of inventory to related parties	8,100
Unconsolidated Majority-Owned Subsidiary \| Apergy Middle East Services LLC
Related Party Transaction [Line Items]
Payments of ordinary dividends, noncontrolling interest	1,200	1,600	$ 2,200
Unconsolidated Majority-Owned Subsidiary \| Champion Arabia Co Ltd
Related Party Transaction [Line Items]
Payments of ordinary dividends, noncontrolling interest	1,300	1,600
Unconsolidated Majority-Owned Subsidiary \| Petrochem Performance Products
Related Party Transaction [Line Items]
Payments of ordinary dividends, noncontrolling interest	$ 200	$ 500

ACCOUNTS RECEIVABLE FACILITY (Details) - Accounts Receivable Held For Sale Under Accounts Receivable Facility - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Jun. 28, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Maximum accounts receivable that can be sold		$ 160.0
Accounts receivable sold	$ 249.8
Accounts receivable outstanding	83.8
Loss on sale of trade receivable	$ 2.0

CASH FLOW INFORMATION - Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Cash paid for income taxes	$ 127,271	$ 50,097	$ 18,179
Cash paid for interest	46,781	51,995	39,746
Net increase (decrease) in accounts payable for capital expenditures	$ (6,803)	$ 8,686	$ 9,549

CASH FLOW INFORMATION - Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Operating leases	$ 42,747	$ 45,583
Finance leases - interest	695	510
Finance leases - principal	6,540	6,258	$ 5,139
Operating leases	4,572	27,390
Finance leases	$ 15,473	$ 5,971

CASH FLOW INFORMATION - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Inventory transferred into property, plant, and equipment	$ 80.2	$ 48.7	$ 15.3
Expenditures for assets expected to be placed in lease asset program	$ 39.8	$ 37.1	$ 20.8

Schedule II - Valuation and Qualifying Accounts - Allowance for Doubtful Accounts (Details) - Allowance for Doubtful Accounts - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 7,662	$ 10,192	$ 8,072
Charged to Cost and Expense	(927)	4,418	3,644
Accounts Written Off	(869)	(7,002)	(3,230)
Other	(360)	54	1,706
Balance at End of Year	$ 5,506	$ 7,662	$ 10,192

Schedule II - Valuation and Qualifying Accounts - Deferred Tax Valuation Allowance (Details) - Deferred Tax Valuation Allowance - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 38,716	$ 26,786	$ 6,027
Additions	0	14,696	21,101
Reductions	(6,120)	(2,766)	(342)
Other	(96)	0	0
Balance at End of Year	$ 32,500	$ 38,716	$ 26,786