AdvanSix (ASIX) 10-Q 4 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Jul. 28, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	1-37774
Entity Registrant Name	AdvanSix Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-2525089
Entity Address, Address Line One	300 Kimball Drive
Entity Address, Address Line Two	Suite 101
Entity Address, City or Town	Parsippany
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07054
City Area Code	973
Local Phone Number	526-1800
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ASIX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		27,213,058
Amendment Flag	false
Entity Central Index Key	0001673985
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Sales	$ 427,940	$ 583,736	$ 828,484	$ 1,062,809
Costs, expenses and other:
Costs of goods sold	360,017	476,835	690,059	852,482
Selling, general and administrative expenses	24,011	20,841	49,126	42,051
Interest expense, net	1,954	769	3,221	1,332
Other non-operating (income) expense, net	(1,325)	172	(1,433)	(431)
Total costs, expenses and other	384,657	498,617	740,973	895,434
Income before taxes	43,283	85,119	87,511	167,375
Income tax expense	10,555	19,962	19,829	39,145
Net income	$ 32,728	$ 65,157	$ 67,682	$ 128,230
Earnings per common share
Basic (in dollars per share)	$ 1.19	$ 2.31	$ 2.46	$ 4.55
Diluted (in dollars per share)	$ 1.16	$ 2.23	$ 2.39	$ 4.37
Weighted average common shares outstanding
Basic (in shares)	27,494,555	28,168,207	27,547,874	28,183,951
Diluted (in shares)	28,113,402	29,262,709	28,348,266	29,316,792

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 32,728	$ 65,157	$ 67,682	$ 128,230
Foreign exchange translation adjustment	(125)	(35)	(158)	22
Cash-flow hedges	0	295	(150)	807
Other comprehensive income (loss), net of tax	(125)	260	(308)	829
Comprehensive income	$ 32,603	$ 65,417	$ 67,374	$ 129,059

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 10,536	$ 30,985
Accounts and other receivables – net	153,148	175,429
Inventories – net	225,986	215,502
Taxes receivable	1,442	9,771
Other current assets	20,043	9,241
Total current assets	411,155	440,928
Property, plant and equipment – net	816,885	811,065
Operating lease right-of-use assets	109,816	114,688
Goodwill	56,192	56,192
Intangible assets	47,717	49,242
Other assets	25,244	23,216
Total assets	1,467,009	1,495,331
Current liabilities:
Accounts payable	220,158	272,770
Accrued liabilities	43,310	48,820
Operating lease liabilities – short-term	34,342	37,472
Deferred income and customer advances	2,333	34,430
Total current liabilities	300,143	393,492
Deferred income taxes	164,256	160,409
Operating lease liabilities – long-term	75,829	77,571
Line of credit – long-term	140,000	115,000
Postretirement benefit obligations	2,279	0
Other liabilities	10,143	10,679
Total liabilities	692,650	757,151
COMMITMENTS AND CONTINGENCIES (Note 9)
STOCKHOLDERS' EQUITY
Common stock, par value $0.01; 200,000,000 shares authorized; 32,577,862 shares issued and 27,302,873 outstanding at June 30, 2023; 31,977,593 shares issued and 27,446,520 outstanding at December 31, 2022	326	320
Preferred stock, par value $0.01; 50,000,000 shares authorized and 0 shares issued and outstanding at June 30, 2023 and December 31, 2022	0	0
Treasury stock at par (5,274,989 shares at June 30, 2023; 4,531,073 shares at December 31, 2022)	(53)	(45)
Additional paid-in capital	151,706	174,585
Retained earnings	626,885	567,517
Accumulated other comprehensive loss	(4,505)	(4,197)
Total stockholders' equity	774,359	738,180
Total liabilities and stockholders' equity	$ 1,467,009	$ 1,495,331

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	32,577,862	31,977,593
Common stock, shares outstanding (in shares)	27,302,873	27,446,520
Preferred stock par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Treasury stock (in shares)	5,274,989	4,531,073

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net income	$ 67,682	$ 128,230
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	35,958	34,226
Loss on disposal of assets	568	800
Deferred income taxes	3,894	2,558
Stock-based compensation	4,449	5,379
Amortization of deferred financing fees	309	309
Changes in assets and liabilities, net of business acquisitions:
Accounts and other receivables	22,123	(52,145)
Inventories	(10,484)	3,012
Taxes receivable	8,329	0
Accounts payable	(47,216)	52,439
Accrued liabilities	(5,744)	(8,821)
Deferred income and customer advances	(32,097)	(1,142)
Other assets and liabilities	(11,192)	(19,792)
Net cash provided by operating activities	36,579	145,053
Cash flows from investing activities:
Expenditures for property, plant and equipment	(43,894)	(38,779)
Acquisition of businesses	0	(97,456)
Other investing activities	(2,034)	(1,221)
Net cash used for investing activities	(45,928)	(137,456)
Cash flows from financing activities:
Borrowings from line of credit	230,500	230,500
Payments of line of credit	(205,500)	(219,000)
Principal payments of finance leases	(456)	(481)
Dividend payments	(8,004)	(7,032)
Purchase of treasury stock	(28,385)	(10,419)
Issuance of common stock	745	1,032
Net cash used for financing activities	(11,100)	(5,400)
Net change in cash and cash equivalents	(20,449)	2,197
Cash and cash equivalents at beginning of period	30,985	15,100
Cash and cash equivalents at the end of period	10,536	17,297
Supplemental non-cash investing activities:
Capital expenditures included in accounts payable	9,832	9,207
Supplemental cash activities:
Cash paid for interest	3,027	1,024
Cash paid for income taxes	$ 7,024	$ 47,439

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2021		31,755,430
Beginning balance at Dec. 31, 2021	$ 601,190	$ 318	$ 195,931	$ 411,516	$ (36)	$ (6,539)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	63,073			63,073
Comprehensive income
Foreign exchange translation adjustments	57					57
Cash-flow hedges	512					512
Other comprehensive income (loss), net of tax	569					569
Issuance of common stock (in shares)		144,875
Issuance of common stock	714	$ 1	713
Purchase of treasury stock	(7,012)		(7,010)		(2)
Stock-based compensation	3,374		3,374
Dividends	(3,517)		313	(3,830)
Ending balance (in shares) at Mar. 31, 2022		31,900,305
Ending balance at Mar. 31, 2022	658,391	$ 319	193,321	470,759	(38)	(5,970)
Beginning balance (in shares) at Dec. 31, 2021		31,755,430
Beginning balance at Dec. 31, 2021	601,190	$ 318	195,931	411,516	(36)	(6,539)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	128,230
Comprehensive income
Foreign exchange translation adjustments	22
Cash-flow hedges	807
Ending balance (in shares) at Jun. 30, 2022		31,961,956
Ending balance at Jun. 30, 2022	719,209	$ 320	192,392	532,246	(39)	(5,710)
Beginning balance (in shares) at Mar. 31, 2022		31,900,305
Beginning balance at Mar. 31, 2022	658,391	$ 319	193,321	470,759	(38)	(5,970)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	65,157			65,157
Comprehensive income
Foreign exchange translation adjustments	(35)					(35)
Cash-flow hedges	295					295
Other comprehensive income (loss), net of tax	260					260
Issuance of common stock (in shares)		61,651
Issuance of common stock	318	$ 1	317
Purchase of treasury stock	(3,407)		(3,406)		(1)
Stock-based compensation	2,005		2,005
Dividends	(3,515)		155	(3,670)
Ending balance (in shares) at Jun. 30, 2022		31,961,956
Ending balance at Jun. 30, 2022	$ 719,209	$ 320	192,392	532,246	(39)	(5,710)
Beginning balance (in shares) at Dec. 31, 2022	27,446,520	31,977,593
Beginning balance at Dec. 31, 2022	$ 738,180	$ 320	174,585	567,517	(45)	(4,197)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	34,954			34,954
Comprehensive income
Foreign exchange translation adjustments	(33)					(33)
Cash-flow hedges	(150)					(150)
Other comprehensive income (loss), net of tax	(183)					(183)
Issuance of common stock (in shares)		555,249
Issuance of common stock	622	$ 5	617
Purchase of treasury stock	(13,499)		(13,496)		(3)
Stock-based compensation	2,013		2,013
Dividends	(4,020)		112	(4,132)
Ending balance (in shares) at Mar. 31, 2023		32,532,842
Ending balance at Mar. 31, 2023	$ 758,067	$ 325	163,831	598,339	(48)	(4,380)
Beginning balance (in shares) at Dec. 31, 2022	27,446,520	31,977,593
Beginning balance at Dec. 31, 2022	$ 738,180	$ 320	174,585	567,517	(45)	(4,197)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	67,682
Comprehensive income
Foreign exchange translation adjustments	(158)
Cash-flow hedges	$ (150)
Ending balance (in shares) at Jun. 30, 2023	27,302,873	32,577,862
Ending balance at Jun. 30, 2023	$ 774,359	$ 326	151,706	626,885	(53)	(4,505)
Beginning balance (in shares) at Mar. 31, 2023		32,532,842
Beginning balance at Mar. 31, 2023	758,067	$ 325	163,831	598,339	(48)	(4,380)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	32,728			32,728
Comprehensive income
Foreign exchange translation adjustments	(125)					(125)
Cash-flow hedges	0					0
Other comprehensive income (loss), net of tax	(125)					(125)
Issuance of common stock (in shares)		45,020
Issuance of common stock	123	$ 1	122
Purchase of treasury stock	(14,886)		(14,881)		(5)
Stock-based compensation	2,436		2,436
Dividends	$ (3,984)		198	(4,182)
Ending balance (in shares) at Jun. 30, 2023	27,302,873	32,577,862
Ending balance at Jun. 30, 2023	$ 774,359	$ 326	$ 151,706	$ 626,885	$ (53)	$ (4,505)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - shares	3 Months Ended				62 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023
Statement of Stockholders' Equity [Abstract]
Stock repurchased during period (in shares)	410,862	333,054	87,251	181,536	5,274,989

Organization, Operations and Ba

Organization, Operations and Basis of Presentation	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Organization, Operations and Basis of Presentation	Organization, Operations and Basis of Presentation Description of Business AdvanSix Inc. ("AdvanSix," the "Company," "we" or "our") is a diversified chemistry company playing a critical role in global supply chains, innovating and delivering essential products for our customers in a wide variety of end markets and applications that touch people’s lives, such as building and construction, fertilizers, agrochemicals, plastics, solvents, packaging, paints, coatings, adhesives and electronics. Our reliable and sustainable supply of quality products emerges from the integrated value chain of our five U.S.-based manufacturing facilities. AdvanSix strives to deliver best-in-class customer experiences and differentiated products in the industries of nylon solutions, chemical intermediates and plant nutrients, guided by our core values of Safety, Integrity, Accountability and Respect. Basis of Presentation The Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of the Company's financial position as of June 30, 2023, and its results of operations for the three and six months ended June 30, 2023 and 2022 and cash flows for the six months ended June 30, 2023 and 2022. The year-end Condensed Consolidated Balance Sheet data was derived from audited financial statements but does not include all disclosures required by U.S. GAAP. The results of operations of any interim period are not necessarily indicative of the results of operations to be expected for the full fiscal year. These financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (the "2022 Form 10-K"). All intercompany transactions have been eliminated. Certain prior period amounts have been reclassified for consistency with the current period presentation. It is our practice to establish actual quarterly closing dates using a predetermined fiscal calendar, which requires our businesses to close their books on a Saturday in order to minimize the potentially disruptive effects of quarterly closing on our business processes. Historically, the effects of this practice have generally not been significant to reported results for any quarter and only existed within a reporting year. In the event that differences in actual closing dates are material to year-over-year comparisons of quarterly or year-to-date results, we will provide the appropriate disclosures. Our actual closing dates for the three and six months ended June 30, 2023 and 2022 were July 1, 2023 and July 2, 2022, respectively. Liabilities to creditors to whom we have issued checks that remained outstanding at June 30, 2023 and December 31, 2022 aggregated to $3.7 million and $9.0 million, respectively, and were included in Cash and cash equivalents and Accounts payable in the Condensed Consolidated Balance Sheets. The Company's Board of Directors (the "Board") has authorized share repurchase programs to repurchase shares of the Company's common stock as follows: Date of Authorization Authorized Amount (millions) Authorized Amount Remaining as of June 30, 2023 (millions) May 4, 2018 $ 75.0 $ — February 22, 2019 75.0 10.6 February 17, 2023 75.0 75.0 Totals $ 225.0 $ 85.6 Repurchases may be made from time to time on the open market in accordance with Rule 10b-18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including through the use of trading plans intended to qualify under Rule 10b5-1 of the Exchange Act. The size and timing of these repurchases will depend on pricing, market and economic conditions, legal and contractual requirements and other factors. The share repurchase program has no expiration date and may be modified, suspended or discontinued at any time. The par value of the shares repurchased is applied to Treasury stock and the excess of the purchase price over par value is applied to Additional paid-in capital. As of June 30, 2023, the Company has repurchased a total of 5,274,989 shares of common stock, including 849,265 shares withheld to cover tax withholding obligations in connection with the vesting of awards, for an aggregate of $164.4 million at a weighted average market price of $31.17 per share. As of June 30, 2023, $85.6 million remained available for share repurchases under the current authorization. During the period July 1, 2023 through July 28, 2023, the Company repurchased an additional 94,715 shares at a weighted average market price of $36.45 per share primarily under the current authorized repurchase program.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recent Accounting Pronouncements – The Company considers the applicability and impact of all Accounting Standards Updates (“ASUs”) issued by the Financial Accounting Standards Board (“FASB”). ASUs not discussed below were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial position or results of operations. In September 2022, the FASB issued ASU No. 2022-04, Liabilities - Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations. The amendments in this ASU require that a buyer in a supplier finance program disclose sufficient quantitative and qualitative information about its supplier finance programs to allow a user of the financial statements to understand the program’s nature, activity during the period, changes from period to period and potential magnitude. On a retrospective basis, for each annual reporting period, an entity should disclose the key terms of the program, including a description of the payment terms, assets pledged as security or other forms of guarantees, the confirmed amount outstanding that remains unpaid, a description of where the obligations are presented in the balance sheet and a roll-forward of those obligations confirmed as well as the amount of obligations subsequently paid. In each interim reporting period, an entity should disclose the amount of confirmed obligations outstanding. The guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the amendment on roll-forward information, which is effective for fiscal years beginning after December 15, 2023. Early adoption of the amendments in this update is permitted. The Company adopted ASU 2022-04, effective January 1, 2023, which did not have a material impact on the Company's consolidated financial position or results of operations upon adoption.

Revenues

Revenues	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Revenue Recognition We serve approximately 400 customers annually in approximately 40 countries across a wide variety of industries. For the three months ended June 30, 2023 and 2022, the Company's ten largest customers accounted for approximately 41% and 40% of total sales, respectively. For each of the six months ended June 30, 2023 and 2022, the Company's ten largest customers accounted for approximately 38% of total sales during both periods. We typically sell to customers under master service agreements, with primarily one-year terms, or by purchase orders. We have historically experienced low customer turnover and have long-standing customer relationships, which span decades. Our largest customer is Shaw Industries Group, Inc. (“Shaw”), a significant consumer of caprolactam and Nylon 6 resin, to whom we sell under a long-term agreement. For each of the three and six months ended June 30, 2023 and 2022, the Company's sales to Shaw were 10% of our total sales. The Company's revenue by product line, and related approximate percentage of total sales, for the three and six months ended June 30, 2023 and 2022 were as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 Nylon $ 92,953 22% $ 132,105 23% $ 192,325 23% $ 250,715 23% Caprolactam 74,682 18% 87,169 15% 147,073 18% 157,174 15% Chemical Intermediates 121,365 28% 158,611 27% 235,929 28% 294,300 28% Ammonium Sulfate 138,940 32% 205,851 35% 253,157 31% 360,620 34% Total $ 427,940 100% $ 583,736 100% $ 828,484 100% $ 1,062,809 100% The Company's revenues by geographic area, and related approximate percentage of total sales, for the three and six months ended June 30, 2023 and 2022 were as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 United States $ 367,608 86% $ 494,155 85% $ 688,534 83 % $ 897,174 84 % International 60,332 14% 89,581 15% 139,950 17 % 165,635 16 % Total $ 427,940 100% $ 583,736 100% $ 828,484 100 % $ 1,062,809 100 % Deferred Income and Customer Advances The Company defers revenues when cash payments are received in advance of our performance. Below is a roll-forward of Deferred income and customer advances for the six months ended June 30, 2023: Opening balance January 1, 2023 $ 34,430 Additional cash advances 5,878 Less amounts recognized in revenues (37,975) Ending balance June 30, 2023 $ 2,333 The Company expects to recognize as revenue the June 30, 2023 ending balance of Deferred income and customer advances within one year or less.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The computation of basic and diluted earnings per share ("EPS") is based on Net income divided by the basic weighted average number of common shares outstanding and diluted weighted average number of common shares outstanding, respectively. The details of the basic and diluted EPS calculations for the three and six months ended June 30, 2023 and 2022 were as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 Basic Net income $ 32,728 $ 65,157 $ 67,682 $ 128,230 Weighted average common shares outstanding 27,494,555 28,168,207 27,547,874 28,183,951 EPS – Basic $ 1.19 $ 2.31 $ 2.46 $ 4.55 Diluted Dilutive effect of equity awards and other stock-based holdings 618,847 1,094,502 800,392 1,132,841 Weighted average common shares outstanding 28,113,402 29,262,709 28,348,266 29,316,792 EPS – Diluted $ 1.16 $ 2.23 $ 2.39 $ 4.37 Diluted EPS is computed based upon the weighted average number of common shares outstanding for the period plus the dilutive effect of common stock equivalents using the treasury stock method and the average market price of our common stock for the period. The diluted EPS calculations exclude the effect of stock options when the options’ assumed proceeds exceed the average market price of the common shares during the period. The anti-dilutive common stock equivalents outstanding at the three and six months ended June 30, 2023 and 2022 were as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 Options and stock equivalents 503,354 121,794 404,009 121,055 Dividend activity for the three and six months ended June 30, 2023 and 2022 was as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 Cash dividends declared per share $ 0.145 $ 0.125 $ 0.290 $ 0.250 Aggregate dividends paid to shareholders $ 3,984 $ 3,515 $ 8,004 $ 7,032

Accounts and Other Receivables

Accounts and Other Receivables – Net	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Accounts and Other Receivables – Net	Accounts and Other Receivables – Net June 30, December 31, Accounts receivables $ 149,303 $ 171,923 Other 5,106 4,100 Total accounts and other receivables 154,409 176,023 Less – allowance for doubtful accounts (1,261) (594) Total accounts and other receivables – net $ 153,148 $ 175,429

Inventories

Inventories	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories June 30, December 31, Raw materials $ 125,162 $ 126,060 Work in progress 73,417 64,669 Finished goods 92,824 60,711 Spares and other 30,894 28,892 322,297 280,332 Reduction to LIFO cost basis (96,311) (64,830) Total inventories $ 225,986 $ 215,502 Substantially all of the Company’s inventories at June 30, 2023 and December 31, 2022 are valued at the lower of cost or market using the last-in, first-out (“LIFO”) method. However, approximately 7% was valued at average cost using the first-in, first-out (“FIFO”) method at June 30, 2023. The excess of replacement cost over the carrying value of total inventories subject to LIFO was $67.2 million and $58.2 million at June 30, 2023 and December 31, 2022, respectively.

Leases

Leases	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Leases	LeasesWe determine if an arrangement is a lease at inception. Operating leases are included in Operating lease right-of-use assets ("ROU"), Operating lease liabilities – short-term, and Operating lease liabilities – long-term in our Condensed Consolidated Balance Sheets. Finance leases are included in Property, plant and equipment – net, Accounts payable, and Other liabilities in our Condensed Consolidated Balance Sheets. The components of lease expense were as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 Finance lease cost: Amortization of right-of-use asset $ 216 $ 238 $ 438 $ 474 Interest on lease liabilities 23 8 41 22 Total finance lease cost 239 246 479 496 Operating lease cost 11,592 10,272 22,841 20,610 Short-term lease cost 1,511 1,244 2,537 2,598 Total lease cost $ 13,342 $ 11,762 $ 25,857 $ 23,704 As of June 30, 2023, we have additional operating leases that have not yet commenced for approximately $1.0 million. These leases will commence during the second half of 2023 with lease terms of up to 7 years.
Leases	LeasesWe determine if an arrangement is a lease at inception. Operating leases are included in Operating lease right-of-use assets ("ROU"), Operating lease liabilities – short-term, and Operating lease liabilities – long-term in our Condensed Consolidated Balance Sheets. Finance leases are included in Property, plant and equipment – net, Accounts payable, and Other liabilities in our Condensed Consolidated Balance Sheets. The components of lease expense were as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 Finance lease cost: Amortization of right-of-use asset $ 216 $ 238 $ 438 $ 474 Interest on lease liabilities 23 8 41 22 Total finance lease cost 239 246 479 496 Operating lease cost 11,592 10,272 22,841 20,610 Short-term lease cost 1,511 1,244 2,537 2,598 Total lease cost $ 13,342 $ 11,762 $ 25,857 $ 23,704 As of June 30, 2023, we have additional operating leases that have not yet commenced for approximately $1.0 million. These leases will commence during the second half of 2023 with lease terms of up to 7 years.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Intangible assets with finite lives acquired through a business combination are recorded at fair value, less accumulated amortization. Customer relationships and trade-names are amortized on a straight-line basis over their expected useful lives of 15 to 20 years and 5 years, respectively. Goodwill There was no change in the carrying amount of goodwill for the six months ended June 30, 2023. Finite-Lived Intangible Assets Intangible assets subject to amortization were as follows: June 30, 2023 December 31, 2022 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Customer relationships $ 36,820 $ (2,807) $ 34,013 $ 36,820 $ (1,854) $ 34,966 Licenses 18,451 (5,535) 12,916 18,451 (5,074) 13,377 Trade names 1,100 (312) 788 1,100 (201) 899 Total $ 56,371 $ (8,654) $ 47,717 $ 56,371 $ (7,129) $ 49,242 For each of the three months ended June 30, 2023 and June 30, 2022, the Company recorded amortization expense on intangible assets of $0.8 million. For the six months ended June 30, 2023 and June 30, 2022, the Company recorded amortization expense on intangible assets of $1.5 million and $1.2 million, respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is subject to a number of lawsuits, investigations and disputes, some of which may involve substantial amounts claimed, arising out of the conduct of the Company or other third-parties in the normal and ordinary course of business. A liability is recognized for any contingency that is probable of occurrence and reasonably estimable. The Company continually assesses the likelihood of adverse judgments or outcomes in these matters, as well as potential ranges of possible losses, based on an analysis of each matter with the assistance of legal counsel and, if applicable, other experts. aggregate, to have a material adverse effect on the Company’s consolidated financial position or results of operations. Potential liabilities are subject to change due to new developments, changes in settlement strategy or the impact of evidentiary requirements, which could cause the Company to pay damage awards or settlements (or become subject to equitable remedies) that could have a material adverse effect on the Company’s consolidated results of operations, balance sheet and/or operating cash flows in the periods recognized or paid. We assumed from Honeywell International Inc. ("Honeywell") all health, safety and environmental (“HSE”) liabilities and compliance obligations related to the past and future operations of our current business as of the spin-off, as well as all HSE liabilities associated with the three manufacturing locations assumed from Honeywell that are used in our current operations, including any cleanup or other liabilities related to any contamination that may have occurred at such locations in the past. Honeywell retained all HSE liabilities related to former business locations or the operation of our former businesses. Although we have ongoing environmental remedial obligations at certain of our facilities, in the past three years, the associated remediation costs have not been material, and we do not expect our known remediation costs to have a material adverse effect on the Company's consolidated financial position or results of operations.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes was $10.6 million and $20.0 million for the three months ended June 30, 2023 and 2022, respectively, resulting in an effective tax rate of 24.4% and 23.5%, respectively. The provision for income taxes was $19.8 million and $39.1 million for the six months ended June 30, 2023 and 2022, respectively, resulting in an effective tax rate of 22.7% and 23.4%, respectively. The Company’s provision for income taxes in interim periods is computed by applying an estimated annual effective tax rate against Income before taxes for the period in addition to recording any tax effects of discrete items for the quarter. The Company’s effective tax rate for the three and six months ended June 30, 2023 and 2022 differed from the U.S. federal statutory rate, due to the impacts of state taxes and executive compensation deduction limitations which generally increase the tax rate, offset by tax credits and the foreign-derived intangible income deduction which generally decrease the tax rate. Additionally, discrete tax adjustments recorded in the first half of 2023 relating to the vesting of equity compensation and changes in state tax legislation resulted in a net 0.6% increase to the quarterly effective tax rate and a net 0.9% decrease to the year-to-date effective tax rate. On August 16, 2022, the Inflation Reduction Act of 2022 (the "IRA") was signed into law. This legislation includes significant changes relating to tax, climate change, energy and health care. Among other provisions, the IRA introduces a corporate alternative minimum tax (CAMT) on adjusted financial statement income of certain large corporations and a 1% excise tax on share repurchases. The Company is not currently subject to the CAMT which became effective for tax years beginning after December 31, 2022. The 1% excise tax is generally applicable to publicly traded corporations for the net value of certain stock that the corporation repurchases during the year and is also effective for tax years beginning after December 31, 2022. The impact of any excise tax imposed on the Company for share repurchases is generally accounted for as an equity transaction with no consequences to the Company's results in operations, and this provision of the law is not expected to have a material impact on the Company's financial condition. The IRA also includes significant extensions, expansions and enhancements related to climate and energy tax credits designed to encourage investment in the adoption and expansion of renewable and alternative energy sources. The Company continues to evaluate these energy credit provisions of the law in relation to our sustainability and environmental, social and governance initiatives.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Financial and non-financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. In July 2019, the Company entered into an interest rate swap transaction related to its credit agreement. The interest rate swap, considered a Level 2 liability, expired February 21, 2023. The pension plan assets are invested in collective investment trust funds. These investments are measured at fair value using the net asset value per share as a practical expedient. Investments valued using the net asset value method (NAV) (or its equivalent) practical expedient are excluded from the fair value hierarchy disclosure. The Company’s Condensed Consolidated Balance Sheets also include Cash and cash equivalents, Accounts receivable and Accounts payable all of which are recorded at amounts which approximate fair value.

Derivative and Hedging Instrume

Derivative and Hedging Instruments	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative and Hedging Instruments	Derivative and Hedging Instruments The specific credit and market, commodity price and interest rate risks to which the Company is exposed in connection with its ongoing business operations are described below. This discussion includes an explanation of any hedging instrument and interest rate swap agreement, used to manage the Company’s interest rate risk associated with a fixed and floating-rate borrowing. For cash flow hedges, the entire change in the fair value of the hedging instrument included in the assessment of hedge effectiveness is recorded in Other comprehensive income. Those amounts are reclassified to earnings in the same income statement line item that is used to present the earnings effect of the hedged item when the hedged item affects earnings. Credit and Market Risk – Financial instruments, including derivatives, expose the Company to counterparty credit risk for non-performance and to market risk related to changes in commodity prices, interest rates and foreign currency exchange rates. The Company manages its exposure to counterparty credit risk through specific minimum credit standards, diversification of counterparties, and procedures to monitor concentrations of credit risk. The Company’s counterparties in derivative transactions are substantial investment and commercial banks with significant experience using such derivative instruments. The Company monitors the impact of market risk on the fair value and cash flows of its derivative and other financial instruments considering reasonably possible changes in commodity prices, interest rates and foreign currency exchange rates and restricts the use of derivative financial instruments to hedging activities. The Company continually monitors the creditworthiness of its customers to which it grants credit terms in the normal course of business. The terms and conditions of credit sales are designed to mitigate or eliminate concentrations of credit risk with any single customer. The Company did not have any customers with significant concentrations of trade accounts receivable – net at June 30, 2023 or December 31, 2022. Allowance for doubtful accounts is calculated based upon the Company's estimate of expected credit losses over the life of exposure based upon both historical information as well as future expected losses. Commodity Price Risk Management – The Company's exposure to market risk for commodity prices can result in changes in the cost of production. We primarily mitigate our exposure to commodity price risk by using long-term, formula-based price contracts with our suppliers and formula-based price agreements with customers. Our customer agreements provide for price adjustments based on relevant market indices and raw material prices and generally do not include take-or-pay terms. We may also enter into forward commodity contracts with third-parties designated as hedges of anticipated purchases of several commodities. Forward commodity contracts are marked-to-market, with the resulting gains and losses recognized in earnings, in the same category as the items being hedged, when the hedged transaction is recognized. At June 30, 2023 and 2022, we had no financial contracts related to forward commodity agreements. Interest Rate Risk Management – The Company had entered into one interest rate swap agreement for a total notional amount of $50 million to exchange floating for fixed rate interest payments for our LIBOR-based borrowings. The interest rate swap had a fair value of zero at inception and was effective July 31, 2019 and matured on February 21, 2023. In accordance with ASC 815, the Company designated the interest rate swap as a cash flow hedge of floating-rate borrowings. The interest rate swap converted the Company’s interest rate payments on the first $50 million of variable-rate, 1-month LIBOR-based debt to a fixed interest rate. The interest rate swap involved the receipt of floating rate amounts in exchange for fixed rate interest payments over the life of the interest rate swap without an exchange of the underlying principal amount. Asset (Liability) Derivatives June 30, 2023 December 31, 2022 Balance Sheet Classification Fair Value Balance Sheet Classification Fair Value Derivatives designated as hedging instruments under ASC 815: Interest Rate Contracts Accounts and other receivables, net $ — Accounts and other receivables, net $ 197 Total Derivatives $ — $ 197 The following table summarizes adjustments related to cash flow hedge included in Cash-flow hedges, in the Condensed Consolidated Statements of Comprehensive Income: June 30, Gain on derivative instruments included in Accumulated other comprehensive loss at December 31, 2022 $ 197 Fair value adjustment (197) Gain (Loss) on derivative instruments included in Accumulated other comprehensive loss at June 30, 2023 $ — At June 30, 2023, the Company expects no reclassifications of net gains or losses on derivative instruments from Accumulated other comprehensive income ("AOCI") to earnings during the next 12 months as the interest rate swap agreement matured on February 21, 2023. The following table summarizes the reclassification of net (gains) losses on derivative instruments from AOCI into earnings: Amount of (Gain) Loss Recognized in Earnings Three Months Ended Six Months Ended 2023 2022 2023 2022 Derivatives: Interest Rate Contracts $ — $ (131) $ — $ (119) Total Derivatives $ — $ (131) $ — $ (119)

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions In February 2022, the Company acquired the stock of U.S. Amines, a leading North American producer of alkyl and specialty amines serving high-value end markets such as agrochemicals and pharmaceuticals for a purchase price of approximately $97.5 million, net of cash acquired. In January 2021, the Company acquired certain assets associated with ammonium sulfate packaging, warehousing and logistics services in Virginia from Commonwealth Industrial Services, Inc. ("CIS") for approximately $9.5 million.

Supplier Finance Program

Supplier Finance Program	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Supplier Finance Program	Supplier Finance ProgramsThe Company has entered into a supply chain finance program with a financial intermediary providing participating suppliers the option to be paid by the intermediary earlier than the original invoice due date. AdvanSix’s responsibility is limited to making payments to the intermediary based upon payment terms negotiated with the suppliers, regardless of whether the intermediary pays the supplier in advance of the original due date. The Company’s payment terms with suppliers are consistent, regardless of whether a vendor participates in the supply chain finance program or not. All related agreements are terminable by either party upon at least 30 days’ notice.The total amount due to the financial intermediaries to settle supplier invoices under the supplier finance programs was approximately $14 million and approximately $17 million as of June 30, 2023 and December 31, 2022, respectively. These amounts outstanding are included in Accounts payable

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsAs announced on August 4, 2023, the Board declared a quarterly cash dividend of $0.160 per share on the Company's common stock, payable on August 29, 2023 to stockholders of record as of the close of business on August 15, 2023.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net income	$ 32,728	$ 34,954	$ 65,157	$ 63,073	$ 67,682	$ 128,230

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	The Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of the Company's financial position as of June 30, 2023, and its results of operations for the three and six months ended June 30, 2023 and 2022 and cash flows for the six months ended June 30, 2023 and 2022. The year-end Condensed Consolidated Balance Sheet data was derived from audited financial statements but does not include all disclosures required by U.S. GAAP. The results of operations of any interim period are not necessarily indicative of the results of operations to be expected for the full fiscal year. These financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (the "2022 Form 10-K"). All intercompany transactions have been eliminated. Certain prior period amounts have been reclassified for consistency with the current period presentation. It is our practice to establish actual quarterly closing dates using a predetermined fiscal calendar, which requires our businesses to close their books on a Saturday in order to minimize the potentially disruptive effects of quarterly closing on our business processes. Historically, the effects of this practice have generally not been significant to reported results for any quarter and only existed within a reporting year. In the event that differences in actual closing dates are material to year-over-year comparisons of quarterly or year-to-date results, we will provide the appropriate disclosures. Our actual closing dates for the three and six months ended June 30, 2023 and 2022 were July 1, 2023 and July 2, 2022, respectively.
New Accounting Pronouncements	Recent Accounting Pronouncements – The Company considers the applicability and impact of all Accounting Standards Updates (“ASUs”) issued by the Financial Accounting Standards Board (“FASB”). ASUs not discussed below were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial position or results of operations. In September 2022, the FASB issued ASU No. 2022-04, Liabilities - Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations. The amendments in this ASU require that a buyer in a supplier finance program disclose sufficient quantitative and qualitative information about its supplier finance programs to allow a user of the financial statements to understand the program’s nature, activity during the period, changes from period to period and potential magnitude. On a retrospective basis, for each annual reporting period, an entity should disclose the key terms of the program, including a description of the payment terms, assets pledged as security or other forms of guarantees, the confirmed amount outstanding that remains unpaid, a description of where the obligations are presented in the balance sheet and a roll-forward of those obligations confirmed as well as the amount of obligations subsequently paid. In each interim reporting period, an entity should disclose the amount of confirmed obligations outstanding. The guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the amendment on roll-forward information, which is effective for fiscal years beginning after December 15, 2023. Early adoption of the amendments in this update is permitted. The Company adopted ASU 2022-04, effective January 1, 2023, which did not have a material impact on the Company's consolidated financial position or results of operations upon adoption.

Organization, Operations and _2

Organization, Operations and Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Schedule of Authorized Share Repurchase Programs	The Company's Board of Directors (the "Board") has authorized share repurchase programs to repurchase shares of the Company's common stock as follows: Date of Authorization Authorized Amount (millions) Authorized Amount Remaining as of June 30, 2023 (millions) May 4, 2018 $ 75.0 $ — February 22, 2019 75.0 10.6 February 17, 2023 75.0 75.0 Totals $ 225.0 $ 85.6

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The Company's revenue by product line, and related approximate percentage of total sales, for the three and six months ended June 30, 2023 and 2022 were as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 Nylon $ 92,953 22% $ 132,105 23% $ 192,325 23% $ 250,715 23% Caprolactam 74,682 18% 87,169 15% 147,073 18% 157,174 15% Chemical Intermediates 121,365 28% 158,611 27% 235,929 28% 294,300 28% Ammonium Sulfate 138,940 32% 205,851 35% 253,157 31% 360,620 34% Total $ 427,940 100% $ 583,736 100% $ 828,484 100% $ 1,062,809 100% The Company's revenues by geographic area, and related approximate percentage of total sales, for the three and six months ended June 30, 2023 and 2022 were as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 United States $ 367,608 86% $ 494,155 85% $ 688,534 83 % $ 897,174 84 % International 60,332 14% 89,581 15% 139,950 17 % 165,635 16 % Total $ 427,940 100% $ 583,736 100% $ 828,484 100 % $ 1,062,809 100 %
Summary of Deferred Income and Customer Advances	Below is a roll-forward of Deferred income and customer advances for the six months ended June 30, 2023: Opening balance January 1, 2023 $ 34,430 Additional cash advances 5,878 Less amounts recognized in revenues (37,975) Ending balance June 30, 2023 $ 2,333

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	The details of the basic and diluted EPS calculations for the three and six months ended June 30, 2023 and 2022 were as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 Basic Net income $ 32,728 $ 65,157 $ 67,682 $ 128,230 Weighted average common shares outstanding 27,494,555 28,168,207 27,547,874 28,183,951 EPS – Basic $ 1.19 $ 2.31 $ 2.46 $ 4.55 Diluted Dilutive effect of equity awards and other stock-based holdings 618,847 1,094,502 800,392 1,132,841 Weighted average common shares outstanding 28,113,402 29,262,709 28,348,266 29,316,792 EPS – Diluted $ 1.16 $ 2.23 $ 2.39 $ 4.37
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The anti-dilutive common stock equivalents outstanding at the three and six months ended June 30, 2023 and 2022 were as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 Options and stock equivalents 503,354 121,794 404,009 121,055
Schedule of Dividends Declared	Dividend activity for the three and six months ended June 30, 2023 and 2022 was as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 Cash dividends declared per share $ 0.145 $ 0.125 $ 0.290 $ 0.250 Aggregate dividends paid to shareholders $ 3,984 $ 3,515 $ 8,004 $ 7,032

Accounts and Other Receivable_2

Accounts and Other Receivables - Net (Tables)	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Schedule of Accounts and Other Receivables Net	June 30, December 31, Accounts receivables $ 149,303 $ 171,923 Other 5,106 4,100 Total accounts and other receivables 154,409 176,023 Less – allowance for doubtful accounts (1,261) (594) Total accounts and other receivables – net $ 153,148 $ 175,429

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	June 30, December 31, Raw materials $ 125,162 $ 126,060 Work in progress 73,417 64,669 Finished goods 92,824 60,711 Spares and other 30,894 28,892 322,297 280,332 Reduction to LIFO cost basis (96,311) (64,830) Total inventories $ 225,986 $ 215,502

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Components of Lease Expense	The components of lease expense were as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 Finance lease cost: Amortization of right-of-use asset $ 216 $ 238 $ 438 $ 474 Interest on lease liabilities 23 8 41 22 Total finance lease cost 239 246 479 496 Operating lease cost 11,592 10,272 22,841 20,610 Short-term lease cost 1,511 1,244 2,537 2,598 Total lease cost $ 13,342 $ 11,762 $ 25,857 $ 23,704

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	Intangible assets subject to amortization were as follows: June 30, 2023 December 31, 2022 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Customer relationships $ 36,820 $ (2,807) $ 34,013 $ 36,820 $ (1,854) $ 34,966 Licenses 18,451 (5,535) 12,916 18,451 (5,074) 13,377 Trade names 1,100 (312) 788 1,100 (201) 899 Total $ 56,371 $ (8,654) $ 47,717 $ 56,371 $ (7,129) $ 49,242

Derivative and Hedging Instru_2

Derivative and Hedging Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	Asset (Liability) Derivatives June 30, 2023 December 31, 2022 Balance Sheet Classification Fair Value Balance Sheet Classification Fair Value Derivatives designated as hedging instruments under ASC 815: Interest Rate Contracts Accounts and other receivables, net $ — Accounts and other receivables, net $ 197 Total Derivatives $ — $ 197
Derivative Instruments, Gain (Loss)	The following table summarizes adjustments related to cash flow hedge included in Cash-flow hedges, in the Condensed Consolidated Statements of Comprehensive Income: June 30, Gain on derivative instruments included in Accumulated other comprehensive loss at December 31, 2022 $ 197 Fair value adjustment (197) Gain (Loss) on derivative instruments included in Accumulated other comprehensive loss at June 30, 2023 $ —
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The following table summarizes the reclassification of net (gains) losses on derivative instruments from AOCI into earnings: Amount of (Gain) Loss Recognized in Earnings Three Months Ended Six Months Ended 2023 2022 2023 2022 Derivatives: Interest Rate Contracts $ — $ (131) $ — $ (119) Total Derivatives $ — $ (131) $ — $ (119)

Organization, Operations and _3

Organization, Operations and Basis of Presentation (Details) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended				62 Months Ended
	Jul. 28, 2023 $ / shares shares	Jun. 30, 2023 USD ($) manufacuringSite shares	Mar. 31, 2023 shares	Jun. 30, 2022 shares	Mar. 31, 2022 shares	Jun. 30, 2023 USD ($) manufacuringSite $ / shares shares	Dec. 31, 2022 USD ($)
Equity, Class of Treasury Stock [Line Items]
Number of manufacturing sites | manufacuringSite		5				5
Checks outstanding | $		$ 3,700				$ 3,700	$ 9,000
Stock repurchased during period (in shares) | shares		410,862	333,054	87,251	181,536	5,274,989
Shares of common stock covering the tax withholding obligations (in shares) | shares						849,265
Stock repurchased during period, value | $						$ 164,400
Treasury stock acquired, weighted average cost per share (in dollars per share) | $ / shares						$ 31.17
Authorized Amount Remaining | $		$ 85,600				$ 85,600
Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Stock repurchased during period (in shares) | shares	94,715
Treasury stock acquired, weighted average cost per share (in dollars per share) | $ / shares	$ 36.45

Organization, Operations and _4

Organization, Operations and Basis of Presentation - Schedule of Authorized Share Repurchase Programs (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Equity, Class of Treasury Stock [Line Items]
Authorized Amount	$ 225,000
Authorized Amount Remaining	85,600
May 2018 Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Authorized Amount	75,000
Authorized Amount Remaining	0
February 2019 Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Authorized Amount	75,000
Authorized Amount Remaining	10,600
February 2023 Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Authorized Amount	75,000
Authorized Amount Remaining	$ 75,000

Revenues - Narrative (Details)

Revenues - Narrative (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023 country customer	Jun. 30, 2022
Concentration Risk [Line Items]
Number of customers | customer			400
Number of countries in which customers are located (more than) | country			40
Length of contract terms			We typically sell to customers under master service agreements, with primarily one-year terms, or by purchase orders.
10 Largest Customers | Customer Concentration Risk | Revenue from Contract with Customer
Concentration Risk [Line Items]
Concentration risk percentage	41%	40%	38%	38%
Shaw Industries Group Inc | Customer Concentration Risk | Revenue from Contract with Customer
Concentration Risk [Line Items]
Concentration risk percentage	10%	10%	10%	10%

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Sales	$ 427,940	$ 583,736	$ 828,484	$ 1,062,809
Revenue from Contract with Customer | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage	100%	100%	100%	100%
Revenue from Contract with Customer | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage	100%	100%	100%	100%
United States
Disaggregation of Revenue [Line Items]
Sales	$ 367,608	$ 494,155	$ 688,534	$ 897,174
United States | Revenue from Contract with Customer | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage	86%	85%	83%	84%
International
Disaggregation of Revenue [Line Items]
Sales	$ 60,332	$ 89,581	$ 139,950	$ 165,635
International | Revenue from Contract with Customer | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage	14%	15%	17%	16%
Nylon
Disaggregation of Revenue [Line Items]
Sales	$ 92,953	$ 132,105	$ 192,325	$ 250,715
Nylon | Revenue from Contract with Customer | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage	22%	23%	23%	23%
Caprolactam
Disaggregation of Revenue [Line Items]
Sales	$ 74,682	$ 87,169	$ 147,073	$ 157,174
Caprolactam | Revenue from Contract with Customer | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage	18%	15%	18%	15%
Chemical Intermediates
Disaggregation of Revenue [Line Items]
Sales	$ 121,365	$ 158,611	$ 235,929	$ 294,300
Chemical Intermediates | Revenue from Contract with Customer | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage	28%	27%	28%	28%
Ammonium Sulfate
Disaggregation of Revenue [Line Items]
Sales	$ 138,940	$ 205,851	$ 253,157	$ 360,620
Ammonium Sulfate | Revenue from Contract with Customer | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk percentage	32%	35%	31%	34%

Revenues - Summary of Deferred

Revenues - Summary of Deferred Revenue and Customer Advances (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Change in Contract with Customer, Liability [Roll Forward]
Opening balance	$ 34,430
Additional cash advances	5,878
Less amounts recognized in revenues	(37,975)
Ending balance	$ 2,333

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Basic
Net income	$ 32,728	$ 34,954	$ 65,157	$ 63,073	$ 67,682	$ 128,230
Weighted average common shares outstanding (in shares)	27,494,555		28,168,207		27,547,874	28,183,951
EPS – Basic (in dollars per share)	$ 1.19		$ 2.31		$ 2.46	$ 4.55
Diluted
Dilutive effect of equity awards and other stock-based holdings (in shares)	618,847		1,094,502		800,392	1,132,841
Weighted average common shares outstanding (in shares)	28,113,402		29,262,709		28,348,266	29,316,792
EPS – Diluted (in dollars per share)	$ 1.16		$ 2.23		$ 2.39	$ 4.37

Earnings Per Share - Antidiluti

Earnings Per Share - Antidilutive Common Stock Equivalents (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Options and stock equivalents (in shares)	503,354	121,794	404,009	121,055

Earnings Per Share - Dividend A

Earnings Per Share - Dividend Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Cash dividends declared per share (in dollars per share)	$ 0.145	$ 0.125	$ 0.290	$ 0.250
Aggregate dividends paid to shareholders	$ 3,984	$ 3,515	$ 8,004	$ 7,032

Accounts and Other Receivable_3

Accounts and Other Receivables - Net (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Receivables [Abstract]
Accounts receivables	$ 149,303	$ 171,923
Other	5,106	4,100
Total accounts and other receivables	154,409	176,023
Less – allowance for doubtful accounts	(1,261)	(594)
Total accounts and other receivables – net	$ 153,148	$ 175,429

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 125,162	$ 126,060
Work in progress	73,417	64,669
Finished goods	92,824	60,711
Spares and other	30,894	28,892
Inventory gross	322,297	280,332
Reduction to LIFO cost basis	(96,311)	(64,830)
Total inventories	$ 225,986	215,502
Percentage of FIFO inventory	7%
Excess of replacement or current costs over stated LIFO value	$ 67,200	$ 58,200

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Finance Lease Cost
Amortization of right-of-use asset	$ 216	$ 238	$ 438	$ 474
Interest on lease liabilities	23	8	41	22
Total finance lease cost	239	246	479	496
Operating lease cost	11,592	10,272	22,841	20,610
Short-term lease cost	1,511	1,244	2,537	2,598
Total lease cost	$ 13,342	$ 11,762	$ 25,857	$ 23,704

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	Jun. 30, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Operating lease that have not yet commenced	$ 1
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, term of contract	7 years

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 0.8	$ 0.8	$ 1.5	$ 1.2
Amortization of intangible assets	$ 0.8	$ 0.8	$ 1.5	$ 1.2
Customer relationships | U.S. Amines, Ltd. | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life	15 years		15 years
Customer relationships | U.S. Amines, Ltd. | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life	20 years		20 years
Trade names | U.S. Amines, Ltd.
Finite-Lived Intangible Assets [Line Items]
Useful life	5 years		5 years

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Gross Carrying Value and Accumulated Amortization for Each Major Class of Intangible Asset (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 56,371	$ 56,371
Accumulated Amortization	(8,654)	(7,129)
Net Book Value	47,717	49,242
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	36,820	36,820
Accumulated Amortization	(2,807)	(1,854)
Net Book Value	34,013	34,966
Licenses
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	18,451	18,451
Accumulated Amortization	(5,535)	(5,074)
Net Book Value	12,916	13,377
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,100	1,100
Accumulated Amortization	(312)	(201)
Net Book Value	$ 788	$ 899

Commitments and Contingencies (

Commitments and Contingencies (Details)	6 Months Ended
	Jun. 30, 2023 location
Commitments and Contingencies Disclosure [Abstract]
Number of manufacturing locations	3

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 10,555	$ 19,962	$ 19,829	$ 39,145
Effective income tax rate	24.40%	23.50%	22.70%	23.40%
Discrete tax adjustment relating to vesting of equity compensation, percent			0.60%
Discrete tax adjustment relating to changes in state tax legislation			0.90%

Fair Value Measurements (Detail

Fair Value Measurements (Details)	Mar. 31, 2022 USD ($)
Fair Value Disclosures [Abstract]
Impairment for goodwill	$ 0

Derivative and Hedging Instru_3

Derivative and Hedging Instruments - Narrative (Details)	6 Months Ended
	Jun. 30, 2023 USD ($) derivative_instrument	Jul. 31, 2019 USD ($)	Nov. 30, 2018 USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative gain reclassification from AOCI to income	$ 0
Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Number of instruments held | derivative_instrument	1
Derivative, notional amount	$ 50,000,000
Derivative liability, fair value		$ 0	$ 0

Derivative and Hedging Instru_4

Derivative and Hedging Instruments - Balance Sheet Classification (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Derivative [Line Items]
Net income	$ 32,728	$ 34,954	$ 65,157	$ 63,073	$ 67,682	$ 128,230
Amount of (Gain) Loss Recognized in Earnings | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Derivative [Line Items]
Net income	0		(131)		0	(119)
Interest Rate Contracts | Amount of (Gain) Loss Recognized in Earnings | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Derivative [Line Items]
Net income	0		$ (131)		0	$ (119)
Designated as Hedging Instrument
Derivative [Line Items]
Asset Derivatives, Fair Value	0				0
Derivative liability, fair value							$ 197
Designated as Hedging Instrument | Interest Rate Contracts
Derivative [Line Items]
Asset Derivatives, Fair Value	$ 0				$ 0
Derivative liability, fair value							$ 197

Derivative and Hedging Instru_5

Derivative and Hedging Instruments - Adjustments Related to Cash Flow Hedges on the Comprehensive Income Statement (Details) - Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
AOCI Attributable To Parent, Before Tax [Roll Forward]
Gain on derivative instruments included in Accumulated other comprehensive loss at December 31, 2022	$ 197
Fair value adjustment	(197)
Gain (Loss) on derivative instruments included in Accumulated other comprehensive loss at June 30, 2023	$ 0

Derivative and Hedging Instru_6

Derivative and Hedging Instruments - Amount of Loss Recognized in Earning (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Total Derivatives	$ 32,728	$ 34,954	$ 65,157	$ 63,073	$ 67,682	$ 128,230
Amount of (Gain) Loss Recognized in Earnings | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Derivative Instruments, Gain (Loss) [Line Items]
Total Derivatives	0		(131)		0	(119)
Amount of (Gain) Loss Recognized in Earnings | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent | Interest Rate Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Total Derivatives	$ 0		$ (131)		$ 0	$ (119)

Acquisitions - Business Combina

Acquisitions - Business Combination (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Feb. 28, 2022	Jun. 30, 2023	Jun. 30, 2022
Business Acquisition [Line Items]
Acquisition of businesses		$ 0	$ 97,456
U.S. Amines, Ltd.
Business Acquisition [Line Items]
Acquisition of businesses	$ 97,500

Acquisitions - Asset Acquisitio

Acquisitions - Asset Acquisition (Details) $ in Millions	1 Months Ended
	Jan. 31, 2021 USD ($)
Commonwealth Industrial Services, Inc.
Asset Acquisition [Line Items]
Consideration transferred	$ 9.5

Supplier Finance Program (Detai

Supplier Finance Program (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Amount due to the financial intermediaries	$ 14,000	$ 17,000

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares		3 Months Ended		6 Months Ended
	Aug. 04, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Subsequent Event [Line Items]
Cash dividends declared per share (in dollars per share)		$ 0.145	$ 0.125	$ 0.290	$ 0.250
Subsequent Event
Subsequent Event [Line Items]
Cash dividends declared per share (in dollars per share)	$ 0.16