Ecovyst (ECVT) 10-Q 1 Aug 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Jul. 28, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-38221
Entity Registrant Name	Ecovyst Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-3406833
Entity Address, Address Line One	300 Lindenwood Drive
Entity Address, City or Town	Malvern
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19355
City Area Code	(484)
Local Phone Number	617-1200
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	ECVT
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		136,739,543
Entity Central Index Key	0001708035
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
Sales	$ 225,172	$ 146,952	$ 404,886	$ 273,576
Cost of goods sold	165,313	108,479	297,292	204,984
Gross profit	59,859	38,473	107,594	68,592
Selling, general and administrative expenses	22,783	21,856	46,319	43,986
Other operating expense, net	9,665	4,965	17,428	10,472
Operating income	27,411	11,652	43,847	14,134
Equity in net (income) from affiliated companies	(8,504)	(6,755)	(14,253)	(11,965)
Interest expense, net	8,888	8,741	17,338	19,197
Debt extinguishment costs	0	11,717	0	11,717
Other expense (income), net	485	(1,875)	625	3,299
Income (loss) from continuing operations before income taxes and noncontrolling interest	26,542	(176)	40,137	(8,114)
Provision for income taxes	7,297	7,694	13,017	2,504
Net income (loss) from continuing operations	19,245	(7,870)	27,120	(10,618)
Net income (loss) from discontinued operations, net of tax	0	6,520	0	(83,250)
Net income (loss)	19,245	(1,350)	27,120	(93,868)
Less: Net income attributable to the noncontrolling interest—discontinued operations	0	140	0	257
Net income (loss) attributable to Ecovyst Inc.	19,245	(1,490)	27,120	(94,125)
Income (loss) from continuing operations attributable to Ecovyst Inc.	19,245	(7,870)	27,120	(10,618)
Income (loss) from discontinued operations attributable to Ecovyst Inc.	$ 0	$ 6,380	$ 0	$ (83,507)
Net income (loss) per share:
Basic income (loss) per share—continuing operations	$ 0.14	$ (0.06)	$ 0.20	$ (0.08)
Diluted income (loss) per share—continuing operations	0.14	(0.06)	0.19	(0.08)
Basic loss per share—discontinued operations	0	0.05	0	(0.61)
Diluted loss per share—discontinued operations	0	0.05	0	(0.61)
Basic income (loss) per share	0.14	(0.01)	0.20	(0.69)
Diluted income (loss) per share	$ 0.14	$ (0.01)	$ 0.19	$ (0.69)
Weighted average shares outstanding:
Basic (shares)	138,035,764	136,095,060	137,876,185	136,072,165
Diluted (shares)	139,149,560	136,095,060	139,175,659	136,072,165

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 19,245	$ (1,350)	$ 27,120	$ (93,868)
Other comprehensive income (loss), net of tax:
Pension and postretirement benefits	(39)	(42)	(78)	(85)
Net gain from hedging activities	4,757	413	18,479	1,178
Foreign currency translation	(7,994)	12,163	(10,299)	8,302
Total other comprehensive (loss) income	(3,276)	12,534	8,102	9,395
Comprehensive income (loss)	15,969	11,184	35,222	(84,473)
Less: Comprehensive income attributable to noncontrolling interests	0	593	0	316
Comprehensive income (loss) attributable to Ecovyst Inc.	$ 15,969	$ 10,591	$ 35,222	$ (84,789)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
ASSETS
Cash and cash equivalents	$ 151,228	$ 140,889
Accounts receivable, net	113,177	80,802
Inventories, net	56,214	53,813
Prepaid and other current assets	35,953	16,165
Total current assets	356,572	291,669
Investments in affiliated companies	426,337	446,074
Property, plant and equipment, net	583,636	596,231
Goodwill	403,211	406,139
Other intangible assets, net	136,967	145,617
Right-of-use lease assets	30,039	30,115
Other long-term assets	31,023	15,374
Total assets	1,967,785	1,931,219
LIABILITIES
Current maturities of long-term debt	9,000	9,000
Accounts payable	57,938	51,860
Operating lease liabilities—current	8,374	8,306
Accrued liabilities	58,836	75,915
Total current liabilities	134,148	145,081
Long-term debt, excluding current portion	869,341	872,839
Deferred income taxes	144,114	126,749
Operating lease liabilities—noncurrent	21,528	21,719
Other long-term liabilities	20,470	24,094
Total liabilities	1,189,601	1,190,482
Commitments and contingencies (Note 17)
EQUITY
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	450,000,000	450,000,000
Common stock, shares issued (shares)	139,624,577	137,820,971
Common stock, shares outstanding (shares)	137,817,183	136,938,758
Common stock, value, issued	$ 1,396	$ 1,378
Preferred stock, par value (usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (shares)	50,000,000	50,000,000
Preferred stock, shares issued (shares)	0	0
Preferred stock, shares outstanding (shares)	0	0
Preferred stock, value, issued	$ 0	$ 0
Additional paid-in capital	1,084,790	1,073,409
Accumulated deficit	$ (288,587)	$ (315,707)
Treasury stock (shares)	1,807,394	882,213
Treasury stock, value	$ (21,725)	$ (12,551)
Accumulated other comprehensive income (loss)	2,310	(5,792)
Total equity	778,184	740,737
Total liabilities and equity	$ 1,967,785	$ 1,931,219

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	(Accumulated deficit)	Treasury stock, at cost	Accumulated other comprehensive income (loss)	Non- controlling interest
Beginning balance at Dec. 31, 2020	$ 1,277,179	$ 1,371	$ 1,477,859	$ (175,758)	$ (11,081)	$ (15,265)	$ 53
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(92,518)			(92,635)			117
Other comprehensive income (loss)	(3,139)					(2,745)	(394)
Tax withholdings on equity award vesting	(1,470)				(1,470)
Distributions to noncontrolling interests	(516)						(516)
Stock compensation expense	6,877		6,877
Shares issued under equity incentive plan, net of forfeitures	70	7	63
Ending balance at Mar. 31, 2021	1,186,483	1,378	1,484,799	(268,393)	(12,551)	(18,010)	(740)
Beginning balance at Dec. 31, 2020	1,277,179	1,371	1,477,859	(175,758)	(11,081)	(15,265)	53
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(93,868)
Other comprehensive income (loss)	9,395
Tax withholdings on equity award vesting	(1,470)
Ending balance at Jun. 30, 2021	1,204,609	1,378	1,492,334	(269,883)	(12,551)	(5,929)	(740)
Beginning balance at Mar. 31, 2021	1,186,483	1,378	1,484,799	(268,393)	(12,551)	(18,010)	(740)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(1,350)			(1,490)			140
Other comprehensive income (loss)	12,534					12,081	453
Tax withholdings on equity award vesting	0
Distributions to noncontrolling interests	(593)						(593)
Stock compensation expense	7,499		7,499
Shares issued under equity incentive plan, net of forfeitures	36	0	36
Ending balance at Jun. 30, 2021	1,204,609	1,378	1,492,334	(269,883)	(12,551)	(5,929)	(740)
Beginning balance at Dec. 31, 2021	740,737	1,378	1,073,409	(315,707)	(12,551)	(5,792)	0
Increase (Decrease) in Stockholders' Equity
Net income (loss)	7,875			7,875			0
Other comprehensive income (loss)	11,378					11,378	0
Tax withholdings on equity award vesting	(332)				(332)
Stock compensation expense	5,946		5,946
Shares issued under equity incentive plan, net of forfeitures	27	18	9
Ending balance at Mar. 31, 2022	765,631	1,396	1,079,364	(307,832)	(12,883)	5,586	0
Beginning balance at Dec. 31, 2021	740,737	1,378	1,073,409	(315,707)	(12,551)	(5,792)	0
Increase (Decrease) in Stockholders' Equity
Net income (loss)	27,120
Other comprehensive income (loss)	8,102
Tax withholdings on equity award vesting	(332)
Ending balance at Jun. 30, 2022	778,184	1,396	1,084,790	(288,587)	(21,725)	2,310	0
Beginning balance at Mar. 31, 2022	765,631	1,396	1,079,364	(307,832)	(12,883)	5,586	0
Increase (Decrease) in Stockholders' Equity
Net income (loss)	19,245			19,245			0
Other comprehensive income (loss)	(3,276)					(3,276)	0
Repurchases of common shares	(8,842)				(8,842)
Tax withholdings on equity award vesting	0
Stock compensation expense	5,409		5,409
Shares issued under equity incentive plan, net of forfeitures	17	0	17
Ending balance at Jun. 30, 2022	$ 778,184	$ 1,396	$ 1,084,790	$ (288,587)	$ (21,725)	$ 2,310	$ 0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Cash flows from operating activities:
Net income (loss)	$ 19,245	$ 7,875	$ (1,350)	$ (92,518)	$ 27,120	$ (93,868)
Net loss from discontinued operations	0		(6,520)		0	83,250
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	16,142		17,529		32,153	33,533
Amortization					7,051	5,952
Amortization of deferred financing costs and original issue discount					1,002	730
Debt extinguishment costs					0	5,981
Foreign currency exchange loss					1,148	3,882
Pension and postretirement healthcare benefit					(1,106)	(1,190)
Deferred income tax provision					11,285	4,279
Net loss on asset disposals	573		1,601		706	2,379
Stock compensation					12,679	12,644
Equity in net income from affiliated companies	(8,504)		(6,755)		(14,253)	(11,965)
Dividends received from affiliated companies					30,000	10,000
Other, net					(3,258)	(3,270)
Working capital changes that provided (used) cash, excluding the effect of acquisitions and dispositions:
Receivables					(33,152)	(18,376)
Inventories					(3,091)	5,501
Prepaids and other current assets					(47)	(1,756)
Accounts payable					9,671	2,619
Accrued liabilities					(25,053)	(3,104)
Net cash provided by operating activities, continuing operations					52,855	37,221
Net cash provided by operating activities, discontinued operations					0	12,077
Net cash provided by operating activities					52,855	49,298
Cash flows from investing activities:
Purchases of property, plant and equipment					(25,835)	(28,039)
Payments for business divestiture					(3,744)	0
Business combinations, net of cash acquired					0	(41,994)
Other, net					81	0
Net cash used in investing activities, continuing operations					(29,498)	(70,033)
Net cash used in investing activities, discontinued operations					0	(32,010)
Net cash used in investing activities					(29,498)	(102,043)
Cash flows from financing activities:
Issuance of long-term debt, net of discount					0	897,750
Debt issuance costs					0	(1,293)
Repayments of long-term debt					(4,500)	(900,000)
Repurchases of common shares					(7,127)	0
Tax withholdings on equity award vesting					(332)	(1,470)
Other, net					45	6
Net cash used in financing activities, continuing operations					(11,914)	(5,007)
Net cash used in financing activities, discontinued operations					0	(1,117)
Net cash used in financing activities					(11,914)	(6,124)
Effect of exchange rate changes on cash, cash equivalents and restricted cash					(1,104)	(3,339)
Net change in cash, cash equivalents and restricted cash					10,339	(62,208)
Cash, cash equivalents and restricted cash at beginning of period		$ 140,889		$ 137,219	140,889	137,219	$ 137,219
Cash, cash equivalents and restricted cash at end of period	151,228		75,011		151,228	75,011	$ 140,889
Less: cash, cash equivalents, and restricted cash of discontinued operations	0		(17,603)		0	(17,603)
Cash, cash equivalents and restricted cash at end of period of continuing operations	$ 151,228		$ 57,408		$ 151,228	$ 57,408

Background and Basis of Present

Background and Basis of Presentation	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background and Basis of Presentation	1. Background and Basis of Presentation: Description of Business Ecovyst Inc. and subsidiaries (the “Company” or “Ecovyst”) is a leading integrated and innovative global provider of specialty catalysts and services. The Company supports customers globally through its strategically located network of manufacturing facilities. The Company believes that its products, which are predominantly inorganic, and services contribute to improving the sustainability of the environment. On December 14, 2020, the Company completed the sale of its Performance Materials business for $650,000, and on August 1, 2021, the Company completed the sale of its Performance Chemicals business. The financial results of these businesses are presented as discontinued operations in the condensed consolidated financial statements for the 2021 period presented. See Note 3 for more information on these transactions. The Company has two uniquely positioned specialty businesses: Ecoservices provides sulfuric acid recycling to the North American refining industry for the production of alkylate and provides on-purpose virgin sulfuric acid for water treatment, mining and industrial applications; and Catalyst Technologies provides finished silica catalysts and catalyst supports necessary to produce high strength and high stiffness plastics and, through the Zeolyst Joint Venture, supplies zeolites used for catalysts that help produce renewable fuels, remove nitrogen oxides from diesel engine emissions as well as sulfur from fuels during the refining process. The Company’s regeneration services product group, which is a part of the Company’s Ecoservices segment, typically experiences seasonal fluctuations as a result of higher demand for gasoline products in the summer months and lower demand in the winter months. These demand fluctuations result in higher sales and working capital requirements in the second and third quarters. The notes to the condensed consolidated financial statements, unless otherwise indicated, are on a continuing operations basis. Basis of Presentation

New Accounting Standards

New Accounting Standards	6 Months Ended
	Jun. 30, 2022
New Accounting Standards [Abstract]
Recently Adopted Accounting Standards	2. New Accounting Standards: Recently Adopted Accounting Standards In November 2021, the FASB issued guidance that requires entities to provide certain disclosures when they (1) have received government assistance and (2) use a grant or contribution accounting model by analogy to other accounting guidance. Previously, there was no guidance under GAAP on recognizing or measuring government grants to business entities. The new guidance does not provide any additional guidance on this topic; rather, it only provides guidance on required disclosures for business entities that receive government assistance and apply another grant or contribution accounting framework by analogy. The new guidance is effective for fiscal years beginning after December 15, 2021 with the new disclosures required on an annual basis, and can be applied either prospectively or retrospectively. The Company adopted the new guidance on January 1, 2022 and will include the disclosures as required in its annual reporting with respect to any government assistance or grants subject to the scope of the guidance to the extent material. Accounting Standards Not Yet Adopted In October 2021, the FASB issued guidance that requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with revenue recognition guidance. Under current GAAP, contract assets and contract liabilities acquired in a business combination are recorded by the acquirer at fair value. The new guidance creates an exception to the general recognition and measurement principles related to business combinations, and is expected to result in the acquirer recognizing contract assets and liabilities at the same amounts recorded by the acquiree. The new guidance is effective for business combinations occurring during fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of the new guidance, which would only be applied prospectively to business combinations upon the adoption of the guidance. In March 2020 and January 2021, the FASB issued guidance to address certain accounting consequences from the anticipated transition from the use of the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. The new guidance contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance is optional and may be elected over time as reference rate reform activities occur. During the year ended December 31, 2020, the Company elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index of the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. During the year ended December 31, 2021, the FASB extended the guidance adoption date to June 30, 2023. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur.

Divestitures

Divestitures	6 Months Ended
	Jun. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]
Segment divestitures	3. Divestitures: Performance Materials Divestiture Upon the close of the Performance Materials divestiture transaction on December 14, 2020, the Company entered into a Transition Services Agreement with the buyer pursuant to which the buyer received certain services to provide for the orderly transition of various functions and processes after the closing of the transaction. The services under the Transition Services Agreement included information technology, accounting, tax, financial services, human resources, facilities, and other administrative support services. These services were provided for a period of nine months, with three 30-day extensions available. The Company billed $1,401 and $3,061 under the Transition Services Agreement to the buyer during the three and six months ended June 30, 2021. Those billings were included in selling, general and administrative expenses on the condensed consolidated financial statements for the six months ended June 30, 2021. During the three months ended June 30, 2021, the Company incurred transaction costs of $84 and stock-based compensation expense of $630, and an associated tax benefit of $192 related to the Performance Materials divestiture, which was included in loss from discontinued operations, net of tax. During the six months ended June 30, 2021, the Company incurred transaction costs of $1,530 and stock-based compensation expense of $1,283, and an associated tax benefit of $706 related to the Performance Materials divestiture, which was included in loss from discontinued operations, net of tax. Performance Chemicals Divestiture On February 28, 2021, the Company entered into a definitive agreement to sell its Performance Chemicals business to Sparta Aggregator L.P. (the “Buyer”), a partnership established by Koch Minerals & Trading, LLC and Cerberus Capital Management, L.P., for $1,100,000, subject to certain adjustments including indebtedness, cash, working capital and transaction expenses. The Company completed the sale of the Performance Chemicals business on August 1, 2021. During the year ended December 31, 2021, the net cash proceeds to the Company from the sale were $978,449 after certain customary adjustments for indebtedness, working capital and cash at the closing of the transaction. During the six months ended June 30, 2022, the Company made a payment to the buyer for $3,744, representing the final adjustments to the sale price. The Company classified the payment within net cash used in investing activities – continuing operations in the condensed consolidated statements of cash flows. Prior to the close of the transaction, the disposal group was tested for recoverability at each of the balance sheet dates subsequent to meeting the discontinued operations criteria, and the Company recognized an estimated disposal loss of $13,990 and $109,584 during the three and six months ended June 30, 2021, respectively, which was included in net loss from discontinued operations, net of tax on the condensed consolidated statement of income. In the condensed consolidated balance sheet as of June 30, 2021, the Company recorded the disposal loss to goodwill and a valuation allowance of approximately $75,080 and $34,504, respectively, which was included in long-term assets held for sale. The following table summarizes the results of discontinued operations related to the Performance Chemicals business for the three and six months ended June 30, 2021: Three months ended Six months ended Sales $ 170,374 $ 334,897 Cost of goods sold 118,785 244,638 Selling, general and administrative expenses 11,490 23,206 Goodwill impairment charge — 75,080 Other operating expense, net 11,850 29,330 Loss on sale of the Performance Chemicals business 13,990 34,504 Operating income (loss) 14,259 (71,861) Equity in net (income) from affiliated companies (48) (86) Interest expense, net (1) 5,599 8,814 Other income, net (840) (6,363) Income (loss) from discontinued operations before income tax 9,548 (74,226) Provision for income taxes 2,507 6,918 Income (loss) from discontinued operations, net of tax $ 7,041 $ (81,144) (1) Upon the close of the transaction, the Company used a portion of the net proceeds to repay a portion of its outstanding debt amounting to $526,363. Prior to the Company’s debt refinancing in June 2021, the Company’s outstanding term loan facilities had mandatory repayment provisions. As a result, interest expense has been allocated to discontinued operations on the basis of the Company’s total repayment of $526,363. Net income attributable to the noncontrolling interest related to the Performance Chemicals business, net of tax was $140 and $257 for the three and six months ended June 30, 2021 . Net income (loss) attributable to Ecovyst Inc., related to the Performance Chemicals business, net of tax was $6,901 and $(81,401) for the three and six months ended June 30, 2021 .

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	4. Revenue from Contracts with Customers: Disaggregated Revenue The Company’s primary means of disaggregating revenues is by reportable segments, which can be found in Note 18 to these condensed consolidated financial statements. The Company’s portfolio of products is integrated into a variety of end uses, which are described in the table below. Key End Uses Key Products Industrial & process chemicals • Sulfur derivatives for industrial production • Treatment services Fuels & emission control • Refining hydrocracking catalysts • Emission control catalysts • Regeneration services for alkylate production Packaging & engineered plastics • Catalysts for high-density polyethylene and chemicals syntheses • Antiblocks for film packaging • Sulfur derivatives for nylon production Natural resources • Sulfur derivatives for mining The following tables disaggregate the Company’s sales, by segment and end use, for the three and six months ended June 30, 2022 and 2021: Three months ended June 30, 2022 Ecoservices Catalyst Technologies (2) Total Industrial & process chemicals $ 42,141 $ — $ 42,141 Fuels & emission control (1) 83,178 — 83,178 Packaging & engineered plastics 33,615 32,204 65,819 Natural resources 34,034 — 34,034 Total segment sales $ 192,968 $ 32,204 $ 225,172 Three months ended June 30, 2021 Ecoservices Catalyst Technologies (2) Total Industrial & process chemicals $ 18,341 $ — $ 18,341 Fuels & emission control (1) 68,794 — 68,794 Packaging & engineered plastics 14,979 26,215 41,194 Natural resources 18,627 — 18,627 Total segment sales $ 120,741 $ 26,215 $ 146,956 Eliminations (4) — (4) Total $ 120,737 $ 26,215 $ 146,952 Six months ended June 30, 2022 Ecoservices Catalyst Technologies (2) Total Industrial & process chemicals $ 74,995 $ — $ 74,995 Fuels & emission control (1) 154,836 — 154,836 Packaging & engineered plastics 58,093 57,858 115,951 Natural resources 59,104 — 59,104 Total segment sales $ 347,028 $ 57,858 $ 404,886 Six months ended June 30, 2021 Ecoservices Catalyst Technologies (2) Total Industrial & process chemicals $ 35,288 $ — $ 35,288 Fuels & emission control (1) 123,987 — 123,987 Packaging & engineered plastics 25,600 52,617 78,217 Natural resources 36,088 — 36,088 Total segment sales $ 220,963 $ 52,617 $ 273,580 Eliminations (4) — (4) Total segment sales $ 220,959 $ 52,617 $ 273,576 (1) As described in Note 1, the Company experiences seasonal s ales fluctuations to customers in the fuels & emission control end use. (2) Excludes the Company’s proportionate share of sales from the Zeolyst International and Zeolyst C.V. joint ventures (collectively, the “Zeolyst Joint Venture”) accounted for using the equity method (see Note 11 to these condensed consolidated financial statements for further information).

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements: Fair values are based on quoted market prices when available. When market prices are not available, fair values are generally estimated using discounted cash flow analyses, incorporating current market inputs for similar financial instruments with comparable terms and credit quality. In instances where there is little or no market activity for the same or similar instruments, the Company estimates fair values using methods, models and assumptions that management believes a hypothetical market participant would use to determine a current transaction price. These valuation techniques involve some level of management estimation and judgment that becomes significant with increasingly complex instruments or pricing models. Where appropriate, adjustments are included to reflect the risk inherent in a particular methodology, model or input used. The Company’s financial assets and liabilities carried at fair value have been classified based upon a fair value hierarchy. The hierarchy gives the highest ranking to fair values determined using unadjusted quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest ranking to fair values determined using methodologies and models with unobservable inputs (Level 3). The classification of an asset or a liability is based on the lowest level input that is significant to its measurement. For example, a Level 3 fair value measurement may include inputs that are both observable (Levels 1 and 2) and unobservable (Level 3). The levels of the fair value hierarchy are as follows: • Level 1—Values are unadjusted quoted prices for identical assets and liabilities in active markets accessible at the measurement date. Active markets provide pricing data for trades occurring at least weekly and include exchanges and dealer markets. • Level 2—Inputs include quoted prices for similar assets or liabilities in active markets, quoted prices from those willing to trade in markets that are not active, or other inputs that are observable or can be corroborated by market data for the term of the instrument. Such inputs include market interest rates and volatilities, spreads and yield curves. • Level 3—Certain inputs are unobservable (supported by little or no market activity) and significant to the fair value measurement. Unobservable inputs reflect the Company’s best estimate of what hypothetical market participants would use to determine a transaction price for the asset or liability at the reporting date. The following table presents information about the Company’s assets and liabilities that were measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. June 30, Quoted Prices in Significant Other Significant Derivative assets: Interest rate caps (Note 14) $ 23,849 $ — $ 23,849 $ — Derivative liabilities: Interest rate caps (Note 14) $ 16 $ — $ 16 $ — December 31, Quoted Prices in Significant Other Significant Derivative assets: Interest rate caps (Note 14) $ 1,080 $ — $ 1,080 $ — Derivative liabilities: Interest rate caps (Note 14) $ 1,288 $ — $ 1,288 $ — Derivative contracts Derivative assets and liabilities can be exchange-traded or traded over-the-counter (“OTC”). The Company generally values exchange-traded derivatives using models that calibrate to market transactions and eliminate timing differences between the closing price of the exchange-traded derivatives and their underlying instruments. OTC derivatives are valued using market transactions and other market evidence whenever possible, including market-based inputs to models, model calibration to market transactions, broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency. When models are used, the selection of a particular model to value an OTC derivative depends on the contractual terms of, and specific risks inherent in, the instrument as well as the availability of pricing information in the market. The Company generally uses similar models to value similar instruments. Valuation models require a variety of inputs, including contractual terms, market prices and rates, forward curves, measures of volatility, and correlations of such inputs. For OTC derivatives that trade in liquid markets, such as forward contracts, swaps and options, model inputs can generally be corroborated by observable market data by correlation or other means, and model selection does not involve significant management judgment. As of June 30, 2022, th e Company had interest rate c aps th at were fair valued using Level 2 inputs. In addition, the Company applies a credit valuation adjustment to reflect credit risk which is calculated based on credit default swaps. To the extent that the Company’s net exposure under a specific master agreement is an asset, the Company utilizes the counterparty’s default swap rate. If the net exposure under a specific master agreement is a liability, the Company utilizes a default swap rate comparable to Ecovyst. The credit valuation adjustment is added to the discounted fair value to reflect the exit price that a market participant would be willing to receive to assume the Company’s liabilities or that a market participant would be willing to pay for the Company’s assets.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Stockholders' Equity	6. Stockholders' Equity: Accumulated Other Comprehensive Income (Loss) The following tables present the tax effects of each component of other comprehensive income (loss) for the three and six months ended June 30, 2022 and 2021: Three months ended June 30, 2022 2021 Pre-tax Tax benefit/ After-tax amount Pre-tax Tax benefit/ After-tax amount Defined benefit and other postretirement plans: Amortization of net gains $ — $ — $ — $ 2 $ (1) $ 1 Amortization of prior service cost (52) 13 (39) (58) 15 (43) Benefit plans, net (52) 13 (39) (56) 14 (42) Net gain from hedging activities 6,343 (1,586) 4,757 551 (138) 413 Foreign currency translation (1) (7,994) — (7,994) 12,163 — 12,163 Other comprehensive income $ (1,703) $ (1,573) $ (3,276) $ 12,658 $ (124) $ 12,534 Six months ended June 30, 2022 2021 Pre-tax Tax benefit/ After-tax amount Pre-tax Tax benefit/ After-tax amount Defined benefit and other postretirement plans: Amortization of net gains $ 1 $ — $ 1 $ 3 $ (1) $ 2 Amortization of prior service cost (105) 26 (79) (116) 29 (87) Benefit plans, net (104) 26 (78) (113) 28 (85) Net gain from hedging activities 24,639 (6,160) 18,479 1,571 (393) 1,178 Foreign currency translation (1) (10,299) — (10,299) 5,855 2,447 8,302 Other comprehensive income (loss) $ 14,236 $ (6,134) $ 8,102 $ 7,313 $ 2,082 $ 9,395 (1) The income tax benefit or expense included in other comprehensive income is attributed to the portion of foreign currency translation associated with the Company’s cross-currency interest rate swaps for the six months ended June 30, 2021, for which the tax effect is based on the applicable U.S. deferred income tax rate. See Note 14 to these condensed consolidated financial statements for information regarding the Company’s cross-currency interest rate swaps, which were settled in March 2021. The following table presents the changes in accumulated other comprehensive income (loss), net of tax, by component for the six months ended June 30, 2022 and 2021: Defined benefit Net gain (loss) Foreign Total December 31, 2021 $ 11,072 $ 2,254 $ (19,118) $ (5,792) Other comprehensive income (loss) before reclassifications (155) 18,029 (10,299) 7,575 Amounts reclassified from accumulated other comprehensive income (1) 77 450 — 527 June 30, 2022 $ 10,994 $ 20,733 $ (29,417) $ 2,310 December 31, 2020 $ 5,278 $ (660) $ (19,883) $ (15,265) Other comprehensive income (loss) before reclassifications (170) 1,043 8,243 9,116 Amounts reclassified from accumulated other comprehensive income (1) 85 135 — 220 June 30, 2021 $ 5,193 $ 518 $ (11,640) $ (5,929) (1) See the following table for details about these reclassifications. Amounts in parentheses indicate debits. The following table presents the reclassifications out of accumulated other comprehensive income for the three and six months ended June 30, 2022 and 2021: Details about Accumulated Other Comprehensive Amounts Reclassified from Accumulated Other Comprehensive Income (1) Affected Line Item where Three months ended Six months ended 2022 2021 2022 2021 Amortization of defined benefit and other postretirement items: Prior service (cost) credit $ (53) $ (58) $ (105) $ (116) Other income (expense) (2) Actuarial gains (losses) 1 2 2 3 Other income (expense) (2) (52) (56) (103) (113) Total before tax 13 15 26 28 Tax benefit (expense) $ (39) $ (41) $ (77) $ (85) Net of tax Gains and losses on cash flow hedges: Interest rate caps $ (359) $ (70) $ (598) $ (179) Interest expense 88 17 148 44 Tax benefit $ (271) $ (53) $ (450) $ (135) Net of tax Total reclassifications for the period $ (310) $ (94) $ (527) $ (220) Net of tax (1) Amounts in parentheses indicate debits to profit/loss. (2) These accumulated other comprehensive income (loss) components are components of net periodic pension and other postretirement cost (see Note 16 to these condensed consolidated financial statements for additional details). Treasury Stock Repurchases The Company records repurchases of its common stock for treasury at cost. Upon the reissuance of the Company’s common stock from treasury, differences between the proceeds from reissuance and the average cost of the treasury stock are credited or charged to capital in excess of par value to the extent of prior credits related to the reissuance of treasury stock. If no such credits exist, the differences are charged to retained earnings. 2020 Stock Repurchase Program On March 12, 2020, the Company’s Board of Directors (the “Board”) approved a plan to purchase up to $50,000 of the Company’s common stock under a stock repurchase program approved by the Board. Under the plan, the Company could repurchase shares from time to time for cash in open market transactions or in privately negotiated transactions in accordance with applicable federal securities laws. The Company determined the timing and the amount of any repurchases based on its evaluation of market conditions, share price and other factors. The stock repurchase program expired in March 2022, with no repurchases made in 2022 through the expiration of the program, nor during the three or six months ended June 30, 2021. 2022 Stock Repurchase Program On April 27, 2022, the Board approved a stock repurchase program that permits the Company to purchase up to $450,000 of the Company’s common stock over the next four years. Under the plan, the Company can repurchase shares from time to time for cash in open market transactions or in privately negotiated transactions in accordance with applicable federal securities laws. The Company will determine the timing and the amount of any repurchases based on its evaluation of market conditions, share price and other factors. During the three and six months ended June 30, 2022, the Company repurchased 893,123 shares on the open market at an average price of $9.88, for a total of $8,842 (of which $1,715 was accrued at June 30, 2022). As of June 30, 2022, $441,158 was available for additional share repurchases under the program. In July 2022, the Company repurchased 1,077,640 shares on the open market at an average price of $9.77, for a total of $10,553 as part of the approved stock repurchase program, which reduced availability for additional share repurchases under the program to $430,605. Tax Withholdings on Equity Award Vesting In connection with the vesting of restricted stock awards, restricted stock units and performance stock units, shares of common stock may be delivered to the Company by employees to satisfy withholding tax obligations at the instruction of the employee award holders. These transactions when they occur are accounted for as stock repurchases by the Company, with the shares returned to treasury stock at a cost representing the payment by the Company of the tax obligations on behalf of the employees in lieu of shares for the vesting unit. There were no shares delivered to the Company to cover tax payments for the three months ended June 30, 2022 and 2021 , and the fair value of the shares withheld to cover tax payments were $332 and $1,470 for the six months ended June 30, 2022 and 2021, respectively.

Acquisition

Acquisition	6 Months Ended
	Jun. 30, 2022
Business Combinations [Abstract]
Chem32 Acquisition	7. Acquisition: On March 1, 2021 (the “Closing Date”), the Company completed the acquisition of Chem32, LLC (“Chem32”) as part of a stock transaction (the “Acquisition”) for $44,000 in cash. Based in Orange, Texas, Chem32 is a leader in ex situ pre-sulfiding and pre-activation for hydro-processing catalysts. The net cash paid on the Closing Date by the Company was $41,994, after certain customary adjustments for indebtedness, working capital, cash and a holdback amount pursuant to the agreement. A portion of the holdback was settled in July 2021 for a payment of $645, with $1,000 of the holdback remaining as of June 30, 2022. Chem32 is reported as part of the Ecoservices segment. The Company believes that the Acquisition will offer a more robust portfolio of services within the refining industry by leveraging the Company’s existing relationships, therefore contributing to a total purchase price that resulted in the recognition of $14,778 of goodwill, which was deductible for tax purposes. During the six months ended June 30, 2022 , the Company recorded an immaterial adjustment between goodwill and deferred tax liabilities related to the final tax purchase price allocation. See Note 8 to these condensed consolidated financial statements for further information. The following table sets forth the calculation of the purchase price to the identifiable net assets acquired with respect to the Acquisition, which was complete as of December 31, 2021 : Purchase Cash paid, net of cash acquired $ 42,639 Holdback 1,000 Total consideration, net of cash acquired $ 43,639 Recognized amounts of identifiable assets acquired and liabilities assumed: Receivables $ 1,368 Inventories 204 Prepaid and other current assets 351 Property, plant and equipment 5,046 Other intangible assets 22,100 Other long-term assets 187 Fair value of assets acquired 29,256 Accounts payable 207 Accrued liabilities 188 Fair value of net identifiable assets acquired 28,861 Goodwill 14,778 $ 43,639 In accordance with the requirements of the purchase method of accounting for acquisitions, accounts receivable and inventories were recorded at fair market value. As of the Closing Date, the fair value of accounts receivable approximated historical cost. The gross contractual amount of accounts receivable at the Closing Date was $1,368, of which there was no amount deemed uncollectible. Fair value of inventory is defined as estimated selling prices less the sum of (a) costs of disposal and (b) a reasonable profit allowance for the selling effort of the acquiring entity, which the Company determined acquired cost equaled fair value of the inventory acquired. The valuation of intangibles assets acquired and the related weighted-average amortization periods were as follows: Amount Weighted-Average Intangible assets subject to amortization: Customer relationships $ 16,000 10 Technical know-how 3,800 10 Contracts 700 5 Trade names 1,600 10 Total intangible assets subject to amortization $ 22,100 Net sales and net income attributable to Chem32 during the period from the Closing Date through June 30, 2021 were immaterial. Pro forma financial information has not been presented as it is immaterial for the three and six months ended June 30, 2021. Acquisition and integration costs was immaterial for the six months ended June 30, 2021 and are included in other operating expense, net in the Company’s consolidated statement of income.

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	8. Goodwill: The change in the carrying amount of goodwill for the six months ended June 30, 2022 is summarized as follows: Ecoservices Catalyst Technologies Total Balance as of December 31, 2021 $ 326,670 $ 79,469 $ 406,139 Goodwill adjustments (1) (81) — (81) Foreign exchange impact — (2,847) (2,847) Balance as of June 30, 2022 $ 326,589 $ 76,622 $ 403,211 (1) During the six months ended June 30, 2022 , the Company recorded an adjustment of $81 between goodwill and deferred tax liabilities related to the final tax purchase price allocation for the Chem32 acquisition.

Other Operating Expense, Net

Other Operating Expense, Net	6 Months Ended
	Jun. 30, 2022
Other Income and Expenses [Abstract]
Other Operating Expense, Net	9. Other Operating Expense, Net: A summary of other operating expense, net is as follows: Three months ended Six months ended 2022 2021 2022 2021 Amortization expense $ 2,644 $ 2,189 $ 5,299 $ 4,374 Transaction and other related costs 790 610 5,070 1,083 Restructuring, integration and business optimization costs (1) 4,746 71 5,099 2,330 Net loss on asset disposals 573 1,601 706 2,379 Other, net 912 494 1,254 306 $ 9,665 $ 4,965 $ 17,428 $ 10,472 (1) During the three and six months ended June 30, 2022 and the six months ended June 30, 2021,

Inventories, Net

Inventories, Net	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories, Net	10. Inventories, Net: Inventories, net are classified and valued as follows: June 30, December 31, Finished products and work in process $ 48,665 $ 46,894 Raw materials 7,549 6,919 $ 56,214 $ 53,813 Valued at lower of cost or market: LIFO basis $ 24,075 $ 33,330 Valued at lower of cost and net realizable value: FIFO or average cost basis 32,139 20,483 $ 56,214 $ 53,813

Investments in Affiliated Compa

Investments in Affiliated Companies	6 Months Ended
	Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Investments in Affiliated Companies	11. Investments in Affiliated Companies: The Company accounts for investments in affiliated companies under the equity method. Affiliated companies accounted for on the equity basis as of June 30, 2022 are as follows: Company Country Percent Zeolyst International USA 50% Zeolyst C.V. Netherlands 50% Following is summarized information of the combined investments (1) : Three months ended Six months ended 2022 2021 2022 2021 Sales $ 84,663 $ 76,060 $ 151,346 $ 142,265 Gross profit 29,168 26,121 52,752 48,067 Operating income 19,476 16,987 34,112 31,161 Net income 20,210 16,751 34,908 30,487 (1) Summarized information of the combined investments is presented at 100%; the Company’s share of the net assets and net income of affiliates is calculated based on the percent ownership specified in the table above. The Company’s investments in affiliated companies balance as of June 30, 2022 and December 31, 2021 includes net purchase accounting fair value adjustments of $234,218 and $237,419, respectively, related to a prior business combination, consisting primarily of goodwill and intangible assets such as customer relationships, technical know-how and trade names. Consolidated equity in net income from affiliates is net of $1,601 and $3,201 of amortization expense related to purchase accounting fair value adjustments for the three and six months ended June 30, 2022, respectively. Consolidated equity in net income from affiliates is net of $1,620 and $3,278 of amortization expense related to purchase accounting fair value adjustments for the three and six months ended June 30, 2021, respectively.

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	12. Property, Plant and Equipment: A summary of property, plant and equipment, at cost, and related accumulated depreciation is as follows: June 30, December 31, Land $ 96,665 $ 97,047 Buildings and improvements 80,418 77,851 Machinery and equipment 724,348 714,435 Construction in progress 51,837 45,952 953,268 935,285 Less: accumulated depreciation (369,632) (339,054) $ 583,636 $ 596,231 Depreciation expense was $16,142 and $32,153 for the three and six months ended June 30, 2022, respectively. Depreciation expense was $17,529 and $33,533 for the three and six months ended June 30, 2021, respectively.

Long-term Debt

Long-term Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Long-term Debt	13. Long-term Debt: The summary of long-term debt is as follows: June 30, December 31, Senior Secured Term Loan Facility due June 2028 $ 891,000 $ 895,500 ABL Facility — — Total debt 891,000 895,500 Original issue discount (8,121) (8,762) Deferred financing costs (4,538) (4,899) Total debt, net of original issue discount and deferred financing costs 878,341 881,839 Less: current portion (9,000) (9,000) Total long-term debt, excluding current portion $ 869,341 $ 872,839 The fair value of a financial instrument is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. As of June 30, 2022 and December 31, 2021, the fair value of the senior secured term loan facility was $850,905 and $894,381, respectively. The fair value is classified as Level 2 based upon the fair value hierarchy (see Note 5 to these condensed consolidated financial statements for further information on fair value measurements).

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	14. Financial Instruments: The Company uses interest rate related derivative instruments to manage its exposure to changes in interest rates on its variable-rate debt instruments. The Company does not speculate using derivative instruments. By using derivative financial instruments to hedge exposures to changes in interest rates, the Company exposes itself to credit risk and market risk. Credit risk is the failure of the counterparty to perform under the terms of the derivative contract. When the fair value of a derivative contract is an asset, the counterparty owes the Company, which creates credit risk for the Company. When the fair value of a derivative contract is a liability, the Company owes the counterparty and therefore, the Company is not exposed to the counterparty’s credit risk in those circumstances. The Company minimizes counterparty credit risk in derivative instruments by entering into transactions with high quality counterparties. The derivative instruments entered into by the Company do not contain credit-risk-related contingent features. Market risk is the adverse effect on the value of a derivative instrument that results from a change in interest rates. The market risk associated with the Company’s derivative instruments is managed by establishing and monitoring parameters that limit the types and degree of market risk that may be undertaken. Use of Derivative Financial Instruments to Manage Interest Rate Risk. The Company is exposed to fluctuations in interest rates on its senior secured credit facilities. Changes in interest rates will not affect the market value of such debt but will affect the Company’s interest payments over the term of the loans. Likewise, an increase in interest rates could have a material impact on the Company’s cash flow. The Company hedges the interest rate fluctuations on debt obligations through interest rate cap agreements. The Company records these agreements at fair value as assets or liabilities in its consolidated balance sheet. As the derivatives are designated and qualify as cash flow hedges, the gains or losses on the interest rate cap agreements are recorded in stockholders’ equity as a component of OCI, net of tax. Reclassifications of the gains and losses on the interest rate cap agreements into earnings are recorded as part of interest expense in the condensed consolidated statements of income as the Company makes its interest payments on the hedged portion of its senior secured credit facilities. Fair value is determined based on estimated amounts that would be received or paid to terminate the contracts at the reporting date based on quoted market prices. In November 2018, the Company entered into interest rate cap agreements to mitigate interest volatility from July 2020 through July 2022, with a cap rate of 3.50% on $500,000 of notional variable-rate debt and a $3,380 premium annuitized during the effective period. In February 2020, the Company restructured these agreements to lower the interest cap rate to 2.50% with an incremental $130 premium annuitized during the effective period. In March 2020, the Company again amended such interest rate cap agreements to lower the cap rate to 0.84% and paid an additional $900 premium annuitized during the effective period. The term and notional amount remained unchanged, and the total cumulative annuitized premium on the $500,000 of notional variable-rate debt is $4,410. The cap rate in effect at June 30, 2022 was 0.84% associated with the $500,000 of notional variable-rate debt. In July 2020, the Company entered into additional interest rate cap agreements to mitigate interest rate volatility from August 2020 to August 2023, with a cap rate of 1.00% on $400,000 of notional variable-rate debt. The cap rate in effect at June 30, 2022 was 1.00% associated with the $400,000 of notional variable-rate debt. The total annuitized premium on the $400,000 of notional variable-rate debt is $137. In August 2021, PQ Corporation novated $900,000 of its interest rate caps to Ecovyst Catalyst Technologies LLC. Other than the novation, there were no other changes to the interest rate caps. In January 2022, the Company entered into two new forward starting interest rate cap agreements, with notional amounts of $250,000 each and with a cap rate of 1.00%. The term for one of these interest rate caps is August 2022 through October 2024 and the term for the other is September 2023 through October 2025. The total cumulative annuitized premium is $4,450. Use of Derivative Financial Instruments to Manage Foreign Currency Risk. The Company is exposed to risks related to its net investments in foreign operations due to fluctuations in foreign currency exchange rates, particularly between the United States dollar and the Euro. In February 2018, the Company entered into multiple cross-currency interest rate swap arrangements with an aggregate notional amount of €280,000 to hedge this exposure on the net investments of certain of its Euro-denominated subsidiaries in its Performance Materials and Performance Chemicals businesses. The Company recorded these swap agreements at fair value as assets or liabilities in its consolidated balance sheet. As the derivatives are designated and qualify as net investment hedges, changes in the fair value of the swaps attributable to changes in the spot exchange rates are recognized in cumulative translation adjustment (“CTA”) within OCI and are held there until the hedged net investments are sold or substantially liquidated. Upon such sale or liquidation, the amount recognized in CTA is reclassified to earnings and reported in the same line item as the gain or loss on the liquidation of the net investments. Changes in the fair value of the swaps attributable to the cross-currency basis spread are excluded from the assessment of hedge effectiveness and are recorded in current period earnings. In March 2021, as a result of the divestitures of the Performance Materials and Performance Chemicals businesses, the Company settled its cross-currency swaps. At the date of settlement, the total notional value of the cross-currency swaps was $311,380. The Company paid $13,170 in cash to settle the swaps, which is included in net cash used in investing activities, discontinued operations in the Company’s condensed consolidated statement of cash flows for the six months ended June 30, 2021, as the underlying subsidiary subject to the net investment hedging relationship is part of the Performance Chemicals business. The fair values of derivative instruments held as of June 30, 2022 and December 31, 2021 are shown below: Balance sheet location June 30, December 31, Derivative assets: Derivatives designated as cash flow hedges: Interest rate caps Prepaid and other current assets 9,413 — Interest rate caps Other long-term assets $ 14,436 $ 1,080 Total derivative assets $ 23,849 $ 1,080 Derivative liabilities: Derivatives designated as cash flow hedges: Interest rate caps Accrued liabilities $ 16 $ 1,288 Total derivative liabilities $ 16 $ 1,288 The following tables show the effect of the Company’s derivative instruments designated as cash flow hedges on AOCI for the three and six months ended June 30, 2022 and 2021: Three months ended June 30, 2022 2021 Location of gain (loss) reclassified from AOCI into income Amount of gain (loss) recognized in OCI on derivatives Amount of gain (loss) reclassified from AOCI into income Amount of gain (loss) recognized in OCI on derivatives Amount of gain (loss) reclassified from AOCI into income Interest rate caps Interest (expense) income $ 5,985 $ (359) $ 479 $ (70) Six months ended June 30, 2022 2021 Location of gain (loss) reclassified from AOCI into income Amount of gain (loss) recognized in OCI on derivatives Amount of gain (loss) reclassified from AOCI into income Amount of gain (loss) recognized in OCI on derivatives Amount of gain (loss) reclassified from AOCI into income Interest rate caps Interest (expense) income $ 24,041 $ (598) $ 1,391 $ (179) The following tables show the effect of the Company’s cash flow hedge accounting on the condensed consolidated statements of income for the three and six months ended June 30, 2022 and 2021: Three months ended June 30, 2022 2021 Cost of goods sold Interest (expense) Cost of goods sold Interest (expense) Total amounts of income and expense line items presented in the statement of income in which the effects of cash flow hedges are recorded $ (165,313) $ (8,888) $ (108,479) $ (8,741) Interest contracts: Amount of gain (loss) reclassified from AOCI into income — (359) — (70) Six months ended June 30, 2022 2021 Cost of goods sold Interest (expense) Cost of goods sold Interest (expense) Total amounts of income and expense line items presented in the statement of income in which the effects of cash flow hedges are recorded $ (297,292) $ (17,338) $ (204,984) $ (19,197) Interest contracts: Amount of gain (loss) reclassified from AOCI into income — (598) — (179) The amount of unrealized losses in AOCI related to the Company’s cash flow hedges that is expected to be reclassified to the condensed consolidated statement of income over the next twelve months is $286 as of June 30, 2022. The following table shows the effect of the Company’s net investment hedges on AOCI and the condensed consolidated statements of income for the three and six months ended June 30, 2021: Amount of gain (loss) recognized in OCI on derivative Location of gain (loss) reclassified from AOCI into income Amount of gain (loss) reclassified from AOCI into income Location of gain (loss) recognized in income on derivative (amount excluded from effectiveness testing) Amount of gain (loss) recognized in income on derivative (amount excluded from effectiveness testing) Three months ended Three months ended Three months ended 2022 2021 2022 2021 2022 2021 Cross-currency interest rate swaps $ — $ — Net (loss) income from discontinued operations, net of tax $ — $ — Interest (expense) income $ — $ — Amount of pre-tax gain (loss) recognized in OCI on derivative Location of gain (loss) reclassified from AOCI into income Amount of gain (loss) reclassified from AOCI into income Location of gain (loss) recognized in income on derivative (amount excluded from effectiveness testing) Amount of gain (loss) recognized in income on derivative (amount excluded from effectiveness testing) Six months ended Six months ended Six months ended 2022 2021 2022 2021 2022 2021 Cross-currency interest rate swaps $ — $ 9,787 Net (loss) income from discontinued operations, net of tax $ — $ — Interest (expense) income $ — $ 545

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	15. Income Taxes: The effective income tax rate for the three months ended June 30, 2022 was 27.5% compared to (4,371.6)% for the three months ended June 30, 2021. The effective income tax rate for the six months ended June 30, 2022 was 32.4% compared to (30.9)% for the six months ended June 30, 2021. The Company’s effective income tax rate has fluctuated primarily due to changes in income mix, discrete impacts related to intraperiod allocation revaluation of deferred tax assets and liabilities as a result of the divestiture of the Performance Chemicals business, tax rate changes and changes in foreign exchange gains and losses, which create permanent differences in certain jurisdictions. The difference between the U.S. federal statutory income tax rate and the Company’s effective income tax rate for the six months ended June 30, 2022 was mainly due to state and local taxes, a discrete shortfall tax expense related to stock compensation, and a discrete tax expense associated with the Employee Retention Credit. The difference between the U.S. federal statutory income tax rate and the Company’s effective income tax rate for the six months ended June 30, 2021 was mainly due to state and local taxes, discrete tax impacts related to intra-period allocation revaluation of deferred tax assets and liabilities as a result of the Performance Chemicals divestiture, tax rate changes, and the tax effect of permanent differences related to foreign currency exchange gain or loss.

Benefit Plans

Benefit Plans	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Benefit Plans	16. Benefit Plans: The following tables present the components of net periodic cost (benefit) for the Company-sponsored defined benefit pension and postretirement plans, which cover certain employees and retirees located in the U.S. Defined Benefit Pension Plans Three months ended Six months ended 2022 2021 2022 2021 Interest cost 604 551 1,207 1,102 Expected return on plan assets (1,110) (1,094) (2,219) (2,187) Net periodic benefit $ (506) $ (543) $ (1,012) $ (1,085) Other Postretirement Benefit Plan Three months ended Six months ended 2022 2021 2022 2021 Interest cost 5 4 9 8 Amortization of prior service credit (53) (58) (105) (116) Amortization of net loss 1 2 2 3 Net periodic benefit $ (47) $ (52) $ (94) $ (105)

Commitments and Contingent Liab

Commitments and Contingent Liabilities	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	17. Commitments and Contingent Liabilities: There is a risk of environmental impact in the Company’s manufacturing operations. The Company’s environmental policies and practices are designed to comply with existing laws and regulations and to minimize the possibility of significant environmental impact. The Company is also subject to various other lawsuits and claims with respect to matters such as governmental regulations, labor and other actions arising out of the normal course of business. All claims that are probable and reasonably estimable have been accrued for in the Company’s condensed consolidated financial statements. When these matters are ultimately concluded and determined, the Company believes that there will be no material adverse effect on its consolidated financial position, results of operations or liquidity.

Reportable Segments

Reportable Segments	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Reportable Segments	18. Reportable Segments: Summarized financial information for the Company’s reportable segments is shown in the following table: Three months ended Six months ended 2022 2021 2022 2021 Sales: Ecoservices $ 192,968 $ 120,741 $ 347,028 $ 220,963 Catalyst Technologies (1) 32,204 26,215 57,858 52,617 Eliminations (2) — (4) — (4) Total $ 225,172 $ 146,952 $ 404,886 $ 273,576 Adjusted EBITDA: (2) Ecoservices $ 59,984 $ 40,450 $ 109,325 $ 73,452 Catalyst Technologies (3) 21,429 20,714 38,404 39,183 Unallocated corporate expenses (8,522) (8,481) (15,598) (17,648) Total $ 72,891 $ 52,683 $ 132,131 $ 94,987 (1) Excludes the Company’s proportionate share of sales from the Zeolyst International and Zeolyst C.V. joint ventures (collectively, the “Zeolyst Joint Venture”) accounted for using the equity method (see Note 11 to these condensed consolidated financial statements for further information). The proportionate share of sales is $35,906 and $64,883 for the three and six months ended June 30, 2022, respectively. The proportionate share of sales is $33,186 and $62,164 for the three and six months ended June 30, 2021, respectively. (2) The Company defines Adjusted EBITDA as EBITDA adjusted for certain items as noted in the reconciliation below. Management evaluates the performance of its segments and allocates resources based on several factors, of which the primary measure is Adjusted EBITDA. Adjusted EBITDA should not be considered as an alternative to net income as an indicator of the Company’s operating performance. Adjusted EBITDA as defined by the Company may not be comparable with EBITDA or Adjusted EBITDA as defined by other companies. (3) The Adjusted EBITDA from the Zeolyst Joint Venture included in the Catalyst Technologies segment is $14,128 for the three months ended June 30, 2022, which includes $8,526 of equity in net income plus $1,600 of amortization of investment in affiliate step-up and $4,001 of joint venture depreciation, amortization and interest. The Adjusted EBITDA from the Zeolyst Joint Venture included in the Catalyst Technologies segment is $25,602 for the six months ended June 30, 2022, which includes $14,313 of equity in net income plus $3,201 of amortization of investment in affiliate step-up and $8,087 of joint venture depreciation, amortization and interest. The Adjusted EBITDA from the Zeolyst Joint Venture included in the Catalyst Technologies segment is $12,055 for the three months ended June 30, 2021, which includes $6,779 of equity in net income plus $1,620 of amortization of investment in affiliate step-up and $3,656 of joint venture depreciation, amortization and interest. The Adjusted EBITDA from the Zeolyst Joint Venture included in the Catalyst Technologies segment is $22,592 for the six months ended June 30, 2021, which includes $12,014 of equity in net income plus $3,278 of amortization of investment in affiliate step-up and $7,300 of joint venture depreciation, amortization and interest. A reconciliation of net income (loss) to Ecovyst to Adjusted EBITDA is as follows: Three months ended Six months ended 2022 2021 2022 2021 Reconciliation of net income (loss) from continuing operations to Adjusted EBITDA Net income (loss) from continuing operations $ 19,245 $ (7,870) $ 27,120 $ (10,618) Provision for income taxes 7,297 7,694 13,017 2,504 Interest expense, net 8,888 8,741 17,338 19,197 Depreciation and amortization 19,658 19,985 39,204 39,485 EBITDA 55,088 28,550 96,679 50,568 Joint venture depreciation, amortization and interest 4,001 3,656 8,087 7,300 Amortization of investment in affiliate step-up 1,601 1,620 3,201 3,278 Debt extinguishment costs — 11,717 — 11,717 Net loss on asset disposals 573 1,601 706 2,379 Foreign exchange losses (gains) 502 (1,219) 1,148 3,882 LIFO expense (benefit) 187 (450) 432 (703) Transaction and other related costs 790 610 5,070 1,083 Equity-based compensation 5,385 6,339 12,679 12,644 Restructuring, integration and business optimization expenses 4,746 71 5,098 2,330 Defined benefit pension plan benefit (553) (595) (1,106) (1,190) Other 571 783 137 1,699 Adjusted EBITDA $ 72,891 $ 52,683 $ 132,131 $ 94,987

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2022
Stock-Based Compensation [Abstract]
Stock-Based Compensation	19. Stock-Based Compensation: The Company has an equity incentive plan under which it grants common stock awards to employees, directors and affiliates of the Company. At June 30, 2022, 9,327,270 shares of common stock were available for issuance under the plan. The Company settles these awards through the issuance of new shares. Restricted Stock Units and Performance Stock Units Restricted Stock Units During the six months ended June 30, 2022, the Company granted 2,750,234 restricted stock units under its equity incentive plan. Each restricted stock unit provides the recipient with the right to receive a share of common stock subject to graded vesting terms based on service, which for the awards granted during the six months ended June 30, 2022, generally requires approximately one year of service for members of the Company’s board of directors and approximately three years of service for employees. The awards granted during the six months ended June 30, 2022 also included a special grant for certain employees based on service which cliff vests on July 1, 2023. The value of the restricted stock units granted during the six months ended June 30, 2022 was based on the average of the high and low trading prices of the Company’s common stock on the NYSE on the preceding trading day, in accordance with the Company’s policy for valuing such awards. Compensation expense related to the restricted stock units is recognized on a straight-line basis over the respective vesting period. Performance Stock Units 2022 Grants During the six months ended June 30, 2022, the Company granted 295,132 performance stock units (at target) under its equity incentive plan. The performance stock units granted during the six months ended June 30, 2022 provide the recipients with the right to receive shares of common stock dependent on the achievement of a total shareholder return (“TSR”) goal, and are generally subject to the provision of service through the vesting date of the award. The performance period for the TSR goal is measured based on a three-year performance period from January 1, 2022 through December 31, 2024. The TSR goal is based on the Company’s actual TSR percentage increase over the performance period. Depending on the Company’s performance relative to the TSR goal, each performance stock unit award recipient is eligible to receive a percentage of the target number of shares granted to the recipient, ranging from zero to 200%. The performance stock units, to the extent earned, will vest on the date the Company’s compensation and governance committee certifies the achievement of the performance metric for the three-year period ending December 31, 2024, which will occur subsequent to the end of the performance period and after the Company files its annual consolidated financial statements for the year ending December 31, 2024. The TSR goal is considered a market condition as opposed to a vesting condition. Because a market condition is not considered a vesting condition, it is reflected in the grant date fair value of the award and the associated compensation cost based on the fair value of the award is recognized over the performance period, regardless of whether the Company actually achieves the market condition or the level of achievement, as long as service is provided by the recipient. The Company used a Monte Carlo simulation to estimate the $8.82 weighted average fair value of the awards granted during the six months ended June 30, 2022, with the following weighted average assumptions: Expected dividend yield — % Risk-free interest rate 1.51 % Expected volatility 44.51 % Expected term (in years) 2.91 2019 Grants During the six months ended June 30, 2022, the Compensation Committee of the Company’s Board certified the achievement of the performance metrics for the three-year period ended December 31, 2021, related to the performance stock units granted during the year ended December 31, 2019. These awards provided the recipients with the right to receive shares of common stock dependent on the achievement of two Company-specific financial performance targets and the provision of service through the vesting date, with each award holder eligible to earn a percentage of the target number of shares granted to the holder, ranging from zero to 200%. The awards vested during the six months ended June 30, 2022 at 100% of target. Award Activity The following table summarizes the activity for the Company’s restricted stock units and performance stock units for the six months ended June 30, 2022: Restricted Stock Units Performance Stock Units Number of Weighted Average Grant Date Fair Value (per share) Number of Weighted Average Grant Date Fair Value (per share) Nonvested as of December 31, 2021 2,507,421 $ 15.68 1,117,555 $ 16.91 Granted 2,750,234 $ 10.28 295,132 $ 8.82 Vested (1,325,654) $ 15.67 (496,442) $ 15.41 Forfeited (945,212) $ 12.64 (165,807) $ 12.46 Nonvested as of June 30, 2022 2,986,789 $ 11.68 750,438 $ 15.70 Stock-Based Compensation Expense For the three months ended June 30, 2022 and 2021, stock-based compensation expense for the Company was $5,385 and $6,339, respectively. The associated income tax benefit recognized in the statements of income for the three months ended June 30, 2022 and 2021 was $1,321 and $1,552, respectively. For the six months ended June 30, 2022 and 2021, stock-based compensation expense for the Company was $12,679 and $12,644, respectively. The associated income tax benefit recognized in the statements of income for the six months ended June 30, 2022 and 2021 was $3,109 and $3,095, respectively. As of June 30, 2022, unrecognized compensation cost was $28,229 for restricted stock units and $4,353 for performance stock units considered probable of vesting. The weighted-average period over which these costs are expected to be recognized at June 30, 2022 was 1.70 years for the restricted stock units and 1.72 years for the performance stock units. Activity related to the Company’s stock options and restricted stock awards was not material for the six months ended June 30, 2022.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings per Share	20. Earnings per Share: Basic earnings per share is calculated as income (loss) available to common stockholders, divided by the weighted average number of common shares outstanding during the period. The weighted average number of common shares outstanding during the period for the computation of basic earnings per share excludes restricted stock awards that have legally been issued but are nonvested during the period, as the sale of these shares is prohibited pending satisfaction of certain vesting conditions by the award recipients in order to earn the rights to the shares. Diluted earnings per share is calculated as income (loss) available to common stockholders, divided by the weighted average number of common and potential common shares outstanding during the period, if dilutive. Potential common shares reflect (1) unvested restricted stock awards and restricted stock units with service vesting conditions, (2) performance stock units with vesting conditions considered probable of achievement and (3) options to purchase common stock, all of which have been included in the diluted earnings per share calculation using the treasury stock method. The reconciliation from basic to diluted weighted average shares outstanding is as follows: Three months ended Six months ended 2022 2021 2022 2021 Weighted average shares outstanding – Basic 138,035,764 136,095,060 137,876,185 136,072,165 Dilutive effect of unvested common shares and restricted stock units with service conditions, performance stock units considered probable of vesting and assumed stock option exercises and conversions 1,113,796 — 1,299,474 — Weighted average shares outstanding – Diluted 139,149,560 136,095,060 139,175,659 136,072,165 Basic and diluted income (loss) per share are calculated as follows: Three months ended Six months ended 2022 2021 2022 2021 Numerator: Income (loss) from continuing operations attributable to Ecovyst Inc. $ 19,245 $ (7,870) $ 27,120 $ (10,618) Income (loss) from discontinued operations attributable to Ecovyst Inc. — 6,380 — (83,507) Net income (loss) attributable to Ecovyst Inc. $ 19,245 $ (1,490) $ 27,120 $ (94,125) Denominator: Weighted average shares outstanding – Basic 138,035,764 136,095,060 137,876,185 136,072,165 Weighted average shares outstanding – Diluted 139,149,560 136,095,060 139,175,659 136,072,165 Net income (loss) per share: Basic income (loss) per share - continuing operations $ 0.14 $ (0.06) $ 0.20 $ (0.08) Diluted income (loss) per share - continuing operations $ 0.14 $ (0.06) $ 0.19 $ (0.08) Basic loss per share - discontinued operations $ — $ 0.05 $ — $ (0.61) Diluted loss per share - discontinued operations $ — $ 0.05 $ — $ (0.61) Basic income (loss) per share $ 0.14 $ (0.01) $ 0.20 $ (0.69) Diluted income (loss) per share $ 0.14 $ (0.01) $ 0.19 $ (0.69) The table below presents the details of the Company’s weighted average equity-based awards outstanding during each respective period that were excluded from the calculation of diluted earnings per share: Three months ended Six months ended 2022 2021 2022 2021 Restricted stock awards with performance only targets not yet achieved 603,993 846,715 608,921 864,946 Stock options with performance only targets not yet achieved 321,368 376,812 324,014 376,812 Anti-dilutive restricted stock awards, restricted stock units and performance stock units 821,278 — — — Anti-dilutive stock options 807,301 — 807,301 — Restricted stock awards and stock options with performance only vesting conditions were not included in the dilution calculation, as the performance targets have not been achieved nor were probable of achievement as of the end of the respective periods. Certain stock options to purchase shares of common stock were excluded from the computation of diluted earnings per share for the respective periods, because the combination of the options’ exercise price and remaining unamortized stock-based compensation expense was greater than the average market price of the common shares. Anti-dilutive awards are not included in the dilution calculation, as their inclusion would have the effect of increasing diluted income per share.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	21. Supplemental Cash Flow Information: With the exception of operating leases, the following table presents supplemental cash flow information for the consolidated Company: Six months ended 2022 2021 Cash paid during the period for: Income taxes, net of refunds $ 19,843 $ 12,269 Interest (1) 15,818 28,794 Non-cash investing activity: Capital expenditures acquired on account but unpaid as of the period end 2,943 9,230 Non-cash financing activity: Accrued share repurchases (Note 6) 1,715 — Right-of-use assets obtained in exchange for new lease liabilities (non-cash): Operating leases 4,370 5,933 (1) Cash paid for interest is shown net of capitalized interest for the periods presented and excludes $2,307 of net interest proceeds on swaps designated as net investment hedges for the six months ended June 30, 2021, which are included within cash flows from investing activities, discontinued operations in the Company’s condensed consolidated statements of cash flows. The followin g table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets as of June 30, 2022 and 2021 to the total of the same amounts shown in the condensed consolidated statements of cash flows for the six months then ended: June 30, 2022 2021 Cash and cash equivalents $ 151,228 $ 55,757 Restricted cash included in prepaid and other current assets — 1,651 Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows $ 151,228 $ 57,408

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	22. Subsequent Events: In July 2022, the Company repurchased 1,077,640 shares on the open market at an average price of $9.77, for a total of $10,553 as part of the approved stock repurchase program . See Note 6 to these condensed consolidated financial statements for further information. Other than this item, the Company has evaluated subsequent events since the balance sheet date and determined that there are no additional items to disclose.

Background and Basis of Prese_2

Background and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of PresentationThe condensed consolidated financial statements included herein are unaudited. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted pursuant to such rules and regulations for interim reporting. In the opinion of management, all adjustments of a normal and recurring nature necessary to state fairly the financial position and results of operations have been included. The results of operations are not necessarily indicative of the expected results for the full year. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021.
Recently Issued Accounting Standards	Recently Adopted Accounting Standards In November 2021, the FASB issued guidance that requires entities to provide certain disclosures when they (1) have received government assistance and (2) use a grant or contribution accounting model by analogy to other accounting guidance. Previously, there was no guidance under GAAP on recognizing or measuring government grants to business entities. The new guidance does not provide any additional guidance on this topic; rather, it only provides guidance on required disclosures for business entities that receive government assistance and apply another grant or contribution accounting framework by analogy. The new guidance is effective for fiscal years beginning after December 15, 2021 with the new disclosures required on an annual basis, and can be applied either prospectively or retrospectively. The Company adopted the new guidance on January 1, 2022 and will include the disclosures as required in its annual reporting with respect to any government assistance or grants subject to the scope of the guidance to the extent material. Accounting Standards Not Yet Adopted In October 2021, the FASB issued guidance that requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with revenue recognition guidance. Under current GAAP, contract assets and contract liabilities acquired in a business combination are recorded by the acquirer at fair value. The new guidance creates an exception to the general recognition and measurement principles related to business combinations, and is expected to result in the acquirer recognizing contract assets and liabilities at the same amounts recorded by the acquiree. The new guidance is effective for business combinations occurring during fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of the new guidance, which would only be applied prospectively to business combinations upon the adoption of the guidance. In March 2020 and January 2021, the FASB issued guidance to address certain accounting consequences from the anticipated transition from the use of the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates. The new guidance contains practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts. The guidance is optional and may be elected over time as reference rate reform activities occur. During the year ended December 31, 2020, the Company elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index of the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. During the year ended December 31, 2021, the FASB extended the guidance adoption date to June 30, 2023. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur.
Fair Value Measurement	Derivative contracts Derivative assets and liabilities can be exchange-traded or traded over-the-counter (“OTC”). The Company generally values exchange-traded derivatives using models that calibrate to market transactions and eliminate timing differences between the closing price of the exchange-traded derivatives and their underlying instruments. OTC derivatives are valued using market transactions and other market evidence whenever possible, including market-based inputs to models, model calibration to market transactions, broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency. When models are used, the selection of a particular model to value an OTC derivative depends on the contractual terms of, and specific risks inherent in, the instrument as well as the availability of pricing information in the market. The Company generally uses similar models to value similar instruments. Valuation models require a variety of inputs, including contractual terms, market prices and rates, forward curves, measures of volatility, and correlations of such inputs. For OTC derivatives that trade in liquid markets, such as forward contracts, swaps and options, model inputs can generally be corroborated by observable market data by correlation or other means, and model selection does not involve significant management judgment. As of June 30, 2022, th e Company had interest rate c aps th at were fair valued using Level 2 inputs. In addition, the Company applies a credit valuation adjustment to reflect credit risk which is calculated based on credit default swaps. To the extent that the Company’s net exposure under a specific master agreement is an asset, the Company utilizes the counterparty’s default swap rate. If the net exposure under a specific master agreement is a liability, the Company utilizes a default swap rate comparable to Ecovyst. The credit valuation adjustment is added to the discounted fair value to reflect the exit price that a market participant would be willing to receive to assume the Company’s liabilities or that a market participant would be willing to pay for the Company’s assets.

Discontinued Operations and Dis

Discontinued Operations and Disposal Groups (Tables)	6 Months Ended
	Jun. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
Discontinued operations	The following table summarizes the results of discontinued operations related to the Performance Chemicals business for the three and six months ended June 30, 2021: Three months ended Six months ended Sales $ 170,374 $ 334,897 Cost of goods sold 118,785 244,638 Selling, general and administrative expenses 11,490 23,206 Goodwill impairment charge — 75,080 Other operating expense, net 11,850 29,330 Loss on sale of the Performance Chemicals business 13,990 34,504 Operating income (loss) 14,259 (71,861) Equity in net (income) from affiliated companies (48) (86) Interest expense, net (1) 5,599 8,814 Other income, net (840) (6,363) Income (loss) from discontinued operations before income tax 9,548 (74,226) Provision for income taxes 2,507 6,918 Income (loss) from discontinued operations, net of tax $ 7,041 $ (81,144) (1) Upon the close of the transaction, the Company used a portion of the net proceeds to repay a portion of its outstanding debt amounting to $526,363. Prior to the Company’s debt refinancing in June 2021, the Company’s outstanding term loan facilities had mandatory repayment provisions. As a result, interest expense has been allocated to discontinued operations on the basis of the Company’s total repayment of $526,363.

Revenue from Contracts with C_2

Revenue from Contracts with Customers Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The Company’s portfolio of products is integrated into a variety of end uses, which are described in the table below. Key End Uses Key Products Industrial & process chemicals • Sulfur derivatives for industrial production • Treatment services Fuels & emission control • Refining hydrocracking catalysts • Emission control catalysts • Regeneration services for alkylate production Packaging & engineered plastics • Catalysts for high-density polyethylene and chemicals syntheses • Antiblocks for film packaging • Sulfur derivatives for nylon production Natural resources • Sulfur derivatives for mining The following tables disaggregate the Company’s sales, by segment and end use, for the three and six months ended June 30, 2022 and 2021: Three months ended June 30, 2022 Ecoservices Catalyst Technologies (2) Total Industrial & process chemicals $ 42,141 $ — $ 42,141 Fuels & emission control (1) 83,178 — 83,178 Packaging & engineered plastics 33,615 32,204 65,819 Natural resources 34,034 — 34,034 Total segment sales $ 192,968 $ 32,204 $ 225,172 Three months ended June 30, 2021 Ecoservices Catalyst Technologies (2) Total Industrial & process chemicals $ 18,341 $ — $ 18,341 Fuels & emission control (1) 68,794 — 68,794 Packaging & engineered plastics 14,979 26,215 41,194 Natural resources 18,627 — 18,627 Total segment sales $ 120,741 $ 26,215 $ 146,956 Eliminations (4) — (4) Total $ 120,737 $ 26,215 $ 146,952 Six months ended June 30, 2022 Ecoservices Catalyst Technologies (2) Total Industrial & process chemicals $ 74,995 $ — $ 74,995 Fuels & emission control (1) 154,836 — 154,836 Packaging & engineered plastics 58,093 57,858 115,951 Natural resources 59,104 — 59,104 Total segment sales $ 347,028 $ 57,858 $ 404,886 Six months ended June 30, 2021 Ecoservices Catalyst Technologies (2) Total Industrial & process chemicals $ 35,288 $ — $ 35,288 Fuels & emission control (1) 123,987 — 123,987 Packaging & engineered plastics 25,600 52,617 78,217 Natural resources 36,088 — 36,088 Total segment sales $ 220,963 $ 52,617 $ 273,580 Eliminations (4) — (4) Total segment sales $ 220,959 $ 52,617 $ 273,576 (1) As described in Note 1, the Company experiences seasonal s ales fluctuations to customers in the fuels & emission control end use. (2) Excludes the Company’s proportionate share of sales from the Zeolyst International and Zeolyst C.V. joint ventures (collectively, the “Zeolyst Joint Venture”) accounted for using the equity method (see Note 11 to these condensed consolidated financial statements for further information).

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring	The following table presents information about the Company’s assets and liabilities that were measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021, and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value. June 30, Quoted Prices in Significant Other Significant Derivative assets: Interest rate caps (Note 14) $ 23,849 $ — $ 23,849 $ — Derivative liabilities: Interest rate caps (Note 14) $ 16 $ — $ 16 $ — December 31, Quoted Prices in Significant Other Significant Derivative assets: Interest rate caps (Note 14) $ 1,080 $ — $ 1,080 $ — Derivative liabilities: Interest rate caps (Note 14) $ 1,288 $ — $ 1,288 $ —

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following tables present the tax effects of each component of other comprehensive income (loss) for the three and six months ended June 30, 2022 and 2021: Three months ended June 30, 2022 2021 Pre-tax Tax benefit/ After-tax amount Pre-tax Tax benefit/ After-tax amount Defined benefit and other postretirement plans: Amortization of net gains $ — $ — $ — $ 2 $ (1) $ 1 Amortization of prior service cost (52) 13 (39) (58) 15 (43) Benefit plans, net (52) 13 (39) (56) 14 (42) Net gain from hedging activities 6,343 (1,586) 4,757 551 (138) 413 Foreign currency translation (1) (7,994) — (7,994) 12,163 — 12,163 Other comprehensive income $ (1,703) $ (1,573) $ (3,276) $ 12,658 $ (124) $ 12,534 Six months ended June 30, 2022 2021 Pre-tax Tax benefit/ After-tax amount Pre-tax Tax benefit/ After-tax amount Defined benefit and other postretirement plans: Amortization of net gains $ 1 $ — $ 1 $ 3 $ (1) $ 2 Amortization of prior service cost (105) 26 (79) (116) 29 (87) Benefit plans, net (104) 26 (78) (113) 28 (85) Net gain from hedging activities 24,639 (6,160) 18,479 1,571 (393) 1,178 Foreign currency translation (1) (10,299) — (10,299) 5,855 2,447 8,302 Other comprehensive income (loss) $ 14,236 $ (6,134) $ 8,102 $ 7,313 $ 2,082 $ 9,395 (1) The income tax benefit or expense included in other comprehensive income is attributed to the portion of foreign currency translation associated with the Company’s cross-currency interest rate swaps for the six months ended June 30, 2021, for which the tax effect is based on the applicable U.S. deferred income tax rate. See Note 14 to these condensed consolidated financial statements for information regarding the Company’s cross-currency interest rate swaps, which were settled in March 2021. The following table presents the changes in accumulated other comprehensive income (loss), net of tax, by component for the six months ended June 30, 2022 and 2021: Defined benefit Net gain (loss) Foreign Total December 31, 2021 $ 11,072 $ 2,254 $ (19,118) $ (5,792) Other comprehensive income (loss) before reclassifications (155) 18,029 (10,299) 7,575 Amounts reclassified from accumulated other comprehensive income (1) 77 450 — 527 June 30, 2022 $ 10,994 $ 20,733 $ (29,417) $ 2,310 December 31, 2020 $ 5,278 $ (660) $ (19,883) $ (15,265) Other comprehensive income (loss) before reclassifications (170) 1,043 8,243 9,116 Amounts reclassified from accumulated other comprehensive income (1) 85 135 — 220 June 30, 2021 $ 5,193 $ 518 $ (11,640) $ (5,929) (1) See the following table for details about these reclassifications. Amounts in parentheses indicate debits.
Reclassification out of Accumulated Other Comprehensive Income	The following table presents the reclassifications out of accumulated other comprehensive income for the three and six months ended June 30, 2022 and 2021: Details about Accumulated Other Comprehensive Amounts Reclassified from Accumulated Other Comprehensive Income (1) Affected Line Item where Three months ended Six months ended 2022 2021 2022 2021 Amortization of defined benefit and other postretirement items: Prior service (cost) credit $ (53) $ (58) $ (105) $ (116) Other income (expense) (2) Actuarial gains (losses) 1 2 2 3 Other income (expense) (2) (52) (56) (103) (113) Total before tax 13 15 26 28 Tax benefit (expense) $ (39) $ (41) $ (77) $ (85) Net of tax Gains and losses on cash flow hedges: Interest rate caps $ (359) $ (70) $ (598) $ (179) Interest expense 88 17 148 44 Tax benefit $ (271) $ (53) $ (450) $ (135) Net of tax Total reclassifications for the period $ (310) $ (94) $ (527) $ (220) Net of tax (1) Amounts in parentheses indicate debits to profit/loss. (2) These accumulated other comprehensive income (loss) components are components of net periodic pension and other postretirement cost (see Note 16 to these condensed consolidated financial statements for additional details).

Acquisition (Tables)

Acquisition (Tables)		12 Months Ended
	Mar. 01, 2021	Dec. 31, 2021
Business Combinations [Abstract]
Purchase price allocation		The following table sets forth the calculation of the purchase price to the identifiable net assets acquired with respect to the Acquisition, which was complete as of December 31, 2021 : Purchase Cash paid, net of cash acquired $ 42,639 Holdback 1,000 Total consideration, net of cash acquired $ 43,639 Recognized amounts of identifiable assets acquired and liabilities assumed: Receivables $ 1,368 Inventories 204 Prepaid and other current assets 351 Property, plant and equipment 5,046 Other intangible assets 22,100 Other long-term assets 187 Fair value of assets acquired 29,256 Accounts payable 207 Accrued liabilities 188 Fair value of net identifiable assets acquired 28,861 Goodwill 14,778 $ 43,639
Finite-Lived Intangible Assets Acquired as Part of Business Combination	The valuation of intangibles assets acquired and the related weighted-average amortization periods were as follows: Amount Weighted-Average Intangible assets subject to amortization: Customer relationships $ 16,000 10 Technical know-how 3,800 10 Contracts 700 5 Trade names 1,600 10 Total intangible assets subject to amortization $ 22,100

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The change in the carrying amount of goodwill for the six months ended June 30, 2022 is summarized as follows: Ecoservices Catalyst Technologies Total Balance as of December 31, 2021 $ 326,670 $ 79,469 $ 406,139 Goodwill adjustments (1) (81) — (81) Foreign exchange impact — (2,847) (2,847) Balance as of June 30, 2022 $ 326,589 $ 76,622 $ 403,211 (1) During the six months ended June 30, 2022 , the Company recorded an adjustment of $81 between goodwill and deferred tax liabilities related to the final tax purchase price allocation for the Chem32 acquisition.

Other Operating Expense, Net (T

Other Operating Expense, Net (Tables)	6 Months Ended
	Jun. 30, 2022
Other Income and Expenses [Abstract]
Schedule of Other Operating Expense, Net	A summary of other operating expense, net is as follows: Three months ended Six months ended 2022 2021 2022 2021 Amortization expense $ 2,644 $ 2,189 $ 5,299 $ 4,374 Transaction and other related costs 790 610 5,070 1,083 Restructuring, integration and business optimization costs (1) 4,746 71 5,099 2,330 Net loss on asset disposals 573 1,601 706 2,379 Other, net 912 494 1,254 306 $ 9,665 $ 4,965 $ 17,428 $ 10,472 (1) During the three and six months ended June 30, 2022 and the six months ended June 30, 2021,

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventories, net are classified and valued as follows: June 30, December 31, Finished products and work in process $ 48,665 $ 46,894 Raw materials 7,549 6,919 $ 56,214 $ 53,813 Valued at lower of cost or market: LIFO basis $ 24,075 $ 33,330 Valued at lower of cost and net realizable value: FIFO or average cost basis 32,139 20,483 $ 56,214 $ 53,813

Investments in Affiliated Com_2

Investments in Affiliated Companies (Tables)	6 Months Ended
	Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments	The Company accounts for investments in affiliated companies under the equity method. Affiliated companies accounted for on the equity basis as of June 30, 2022 are as follows: Company Country Percent Zeolyst International USA 50% Zeolyst C.V. Netherlands 50% Following is summarized information of the combined investments (1) : Three months ended Six months ended 2022 2021 2022 2021 Sales $ 84,663 $ 76,060 $ 151,346 $ 142,265 Gross profit 29,168 26,121 52,752 48,067 Operating income 19,476 16,987 34,112 31,161 Net income 20,210 16,751 34,908 30,487 (1) Summarized information of the combined investments is presented at 100%; the Company’s share of the net assets and net income of affiliates is calculated based on the percent ownership specified in the table above.

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	A summary of property, plant and equipment, at cost, and related accumulated depreciation is as follows: June 30, December 31, Land $ 96,665 $ 97,047 Buildings and improvements 80,418 77,851 Machinery and equipment 724,348 714,435 Construction in progress 51,837 45,952 953,268 935,285 Less: accumulated depreciation (369,632) (339,054) $ 583,636 $ 596,231

Long-term Debt (Tables)

Long-term Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	The summary of long-term debt is as follows: June 30, December 31, Senior Secured Term Loan Facility due June 2028 $ 891,000 $ 895,500 ABL Facility — — Total debt 891,000 895,500 Original issue discount (8,121) (8,762) Deferred financing costs (4,538) (4,899) Total debt, net of original issue discount and deferred financing costs 878,341 881,839 Less: current portion (9,000) (9,000) Total long-term debt, excluding current portion $ 869,341 $ 872,839

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Derivatives Held	The fair values of derivative instruments held as of June 30, 2022 and December 31, 2021 are shown below: Balance sheet location June 30, December 31, Derivative assets: Derivatives designated as cash flow hedges: Interest rate caps Prepaid and other current assets 9,413 — Interest rate caps Other long-term assets $ 14,436 $ 1,080 Total derivative assets $ 23,849 $ 1,080 Derivative liabilities: Derivatives designated as cash flow hedges: Interest rate caps Accrued liabilities $ 16 $ 1,288 Total derivative liabilities $ 16 $ 1,288
Effect of Derivative Instruments Designated as Hedges on Other Comprehensive Income	The following tables show the effect of the Company’s derivative instruments designated as cash flow hedges on AOCI for the three and six months ended June 30, 2022 and 2021: Three months ended June 30, 2022 2021 Location of gain (loss) reclassified from AOCI into income Amount of gain (loss) recognized in OCI on derivatives Amount of gain (loss) reclassified from AOCI into income Amount of gain (loss) recognized in OCI on derivatives Amount of gain (loss) reclassified from AOCI into income Interest rate caps Interest (expense) income $ 5,985 $ (359) $ 479 $ (70) Six months ended June 30, 2022 2021 Location of gain (loss) reclassified from AOCI into income Amount of gain (loss) recognized in OCI on derivatives Amount of gain (loss) reclassified from AOCI into income Amount of gain (loss) recognized in OCI on derivatives Amount of gain (loss) reclassified from AOCI into income Interest rate caps Interest (expense) income $ 24,041 $ (598) $ 1,391 $ (179)
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The following tables show the effect of the Company’s cash flow hedge accounting on the condensed consolidated statements of income for the three and six months ended June 30, 2022 and 2021: Three months ended June 30, 2022 2021 Cost of goods sold Interest (expense) Cost of goods sold Interest (expense) Total amounts of income and expense line items presented in the statement of income in which the effects of cash flow hedges are recorded $ (165,313) $ (8,888) $ (108,479) $ (8,741) Interest contracts: Amount of gain (loss) reclassified from AOCI into income — (359) — (70) Six months ended June 30, 2022 2021 Cost of goods sold Interest (expense) Cost of goods sold Interest (expense) Total amounts of income and expense line items presented in the statement of income in which the effects of cash flow hedges are recorded $ (297,292) $ (17,338) $ (204,984) $ (19,197) Interest contracts: Amount of gain (loss) reclassified from AOCI into income — (598) — (179)
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)	The following table shows the effect of the Company’s net investment hedges on AOCI and the condensed consolidated statements of income for the three and six months ended June 30, 2021: Amount of gain (loss) recognized in OCI on derivative Location of gain (loss) reclassified from AOCI into income Amount of gain (loss) reclassified from AOCI into income Location of gain (loss) recognized in income on derivative (amount excluded from effectiveness testing) Amount of gain (loss) recognized in income on derivative (amount excluded from effectiveness testing) Three months ended Three months ended Three months ended 2022 2021 2022 2021 2022 2021 Cross-currency interest rate swaps $ — $ — Net (loss) income from discontinued operations, net of tax $ — $ — Interest (expense) income $ — $ — Amount of pre-tax gain (loss) recognized in OCI on derivative Location of gain (loss) reclassified from AOCI into income Amount of gain (loss) reclassified from AOCI into income Location of gain (loss) recognized in income on derivative (amount excluded from effectiveness testing) Amount of gain (loss) recognized in income on derivative (amount excluded from effectiveness testing) Six months ended Six months ended Six months ended 2022 2021 2022 2021 2022 2021 Cross-currency interest rate swaps $ — $ 9,787 Net (loss) income from discontinued operations, net of tax $ — $ — Interest (expense) income $ — $ 545

Benefit Plans (Tables)

Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2022
Defined Benefit Pension Plans
Defined Benefit Plan Disclosure
Components of Net Periodic Expense (Benefit)	Defined Benefit Pension Plans Three months ended Six months ended 2022 2021 2022 2021 Interest cost 604 551 1,207 1,102 Expected return on plan assets (1,110) (1,094) (2,219) (2,187) Net periodic benefit $ (506) $ (543) $ (1,012) $ (1,085)
Other Postretirement Benefits Plans
Defined Benefit Plan Disclosure
Components of Net Periodic Expense (Benefit)	Other Postretirement Benefit Plan Three months ended Six months ended 2022 2021 2022 2021 Interest cost 5 4 9 8 Amortization of prior service credit (53) (58) (105) (116) Amortization of net loss 1 2 2 3 Net periodic benefit $ (47) $ (52) $ (94) $ (105)

Reportable Segments (Tables)

Reportable Segments (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Reconciliation of Revenue from Reportable Segments to Consolidated	Summarized financial information for the Company’s reportable segments is shown in the following table: Three months ended Six months ended 2022 2021 2022 2021 Sales: Ecoservices $ 192,968 $ 120,741 $ 347,028 $ 220,963 Catalyst Technologies (1) 32,204 26,215 57,858 52,617 Eliminations (2) — (4) — (4) Total $ 225,172 $ 146,952 $ 404,886 $ 273,576 Adjusted EBITDA: (2) Ecoservices $ 59,984 $ 40,450 $ 109,325 $ 73,452 Catalyst Technologies (3) 21,429 20,714 38,404 39,183 Unallocated corporate expenses (8,522) (8,481) (15,598) (17,648) Total $ 72,891 $ 52,683 $ 132,131 $ 94,987 (1) Excludes the Company’s proportionate share of sales from the Zeolyst International and Zeolyst C.V. joint ventures (collectively, the “Zeolyst Joint Venture”) accounted for using the equity method (see Note 11 to these condensed consolidated financial statements for further information). The proportionate share of sales is $35,906 and $64,883 for the three and six months ended June 30, 2022, respectively. The proportionate share of sales is $33,186 and $62,164 for the three and six months ended June 30, 2021, respectively. (2) The Company defines Adjusted EBITDA as EBITDA adjusted for certain items as noted in the reconciliation below. Management evaluates the performance of its segments and allocates resources based on several factors, of which the primary measure is Adjusted EBITDA. Adjusted EBITDA should not be considered as an alternative to net income as an indicator of the Company’s operating performance. Adjusted EBITDA as defined by the Company may not be comparable with EBITDA or Adjusted EBITDA as defined by other companies. (3) The Adjusted EBITDA from the Zeolyst Joint Venture included in the Catalyst Technologies segment is $14,128 for the three months ended June 30, 2022, which includes $8,526 of equity in net income plus $1,600 of amortization of investment in affiliate step-up and $4,001 of joint venture depreciation, amortization and interest. The Adjusted EBITDA from the Zeolyst Joint Venture included in the Catalyst Technologies segment is $25,602 for the six months ended June 30, 2022, which includes $14,313 of equity in net income plus $3,201 of amortization of investment in affiliate step-up and $8,087 of joint venture depreciation, amortization and interest. The Adjusted EBITDA from the Zeolyst Joint Venture included in the Catalyst Technologies segment is $12,055 for the three months ended June 30, 2021, which includes $6,779 of equity in net income plus $1,620 of amortization of investment in affiliate step-up and $3,656 of joint venture depreciation, amortization and interest. The Adjusted EBITDA from the Zeolyst Joint Venture included in the Catalyst Technologies segment is $22,592 for the six months ended June 30, 2021, which includes $12,014 of equity in net income plus $3,278 of amortization of investment in affiliate step-up and $7,300 of joint venture depreciation, amortization and interest.
Reconciliation of Net Income (Loss) from Continuing Operations to Adjusted EBITDA	A reconciliation of net income (loss) to Ecovyst to Adjusted EBITDA is as follows: Three months ended Six months ended 2022 2021 2022 2021 Reconciliation of net income (loss) from continuing operations to Adjusted EBITDA Net income (loss) from continuing operations $ 19,245 $ (7,870) $ 27,120 $ (10,618) Provision for income taxes 7,297 7,694 13,017 2,504 Interest expense, net 8,888 8,741 17,338 19,197 Depreciation and amortization 19,658 19,985 39,204 39,485 EBITDA 55,088 28,550 96,679 50,568 Joint venture depreciation, amortization and interest 4,001 3,656 8,087 7,300 Amortization of investment in affiliate step-up 1,601 1,620 3,201 3,278 Debt extinguishment costs — 11,717 — 11,717 Net loss on asset disposals 573 1,601 706 2,379 Foreign exchange losses (gains) 502 (1,219) 1,148 3,882 LIFO expense (benefit) 187 (450) 432 (703) Transaction and other related costs 790 610 5,070 1,083 Equity-based compensation 5,385 6,339 12,679 12,644 Restructuring, integration and business optimization expenses 4,746 71 5,098 2,330 Defined benefit pension plan benefit (553) (595) (1,106) (1,190) Other 571 783 137 1,699 Adjusted EBITDA $ 72,891 $ 52,683 $ 132,131 $ 94,987

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Stock-Based Compensation [Abstract]
Schedule of Share-based Payment Award, Performance Stock Units, Monte Carlo Simulation Valuation Assumptions	Expected dividend yield — % Risk-free interest rate 1.51 % Expected volatility 44.51 % Expected term (in years) 2.91
Schedule of Nonvested Restricted Stock Units Activity	The following table summarizes the activity for the Company’s restricted stock units and performance stock units for the six months ended June 30, 2022: Restricted Stock Units Performance Stock Units Number of Weighted Average Grant Date Fair Value (per share) Number of Weighted Average Grant Date Fair Value (per share) Nonvested as of December 31, 2021 2,507,421 $ 15.68 1,117,555 $ 16.91 Granted 2,750,234 $ 10.28 295,132 $ 8.82 Vested (1,325,654) $ 15.67 (496,442) $ 15.41 Forfeited (945,212) $ 12.64 (165,807) $ 12.46 Nonvested as of June 30, 2022 2,986,789 $ 11.68 750,438 $ 15.70
Schedule of Nonvested Performance-based Units Activity	The following table summarizes the activity for the Company’s restricted stock units and performance stock units for the six months ended June 30, 2022: Restricted Stock Units Performance Stock Units Number of Weighted Average Grant Date Fair Value (per share) Number of Weighted Average Grant Date Fair Value (per share) Nonvested as of December 31, 2021 2,507,421 $ 15.68 1,117,555 $ 16.91 Granted 2,750,234 $ 10.28 295,132 $ 8.82 Vested (1,325,654) $ 15.67 (496,442) $ 15.41 Forfeited (945,212) $ 12.64 (165,807) $ 12.46 Nonvested as of June 30, 2022 2,986,789 $ 11.68 750,438 $ 15.70

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Reconciliation from Basic to Diluted Weighted Average Number of Shares Outstanding	The reconciliation from basic to diluted weighted average shares outstanding is as follows: Three months ended Six months ended 2022 2021 2022 2021 Weighted average shares outstanding – Basic 138,035,764 136,095,060 137,876,185 136,072,165 Dilutive effect of unvested common shares and restricted stock units with service conditions, performance stock units considered probable of vesting and assumed stock option exercises and conversions 1,113,796 — 1,299,474 — Weighted average shares outstanding – Diluted 139,149,560 136,095,060 139,175,659 136,072,165
Schedule of Earnings Per Share, Basic and Diluted	Basic and diluted income (loss) per share are calculated as follows: Three months ended Six months ended 2022 2021 2022 2021 Numerator: Income (loss) from continuing operations attributable to Ecovyst Inc. $ 19,245 $ (7,870) $ 27,120 $ (10,618) Income (loss) from discontinued operations attributable to Ecovyst Inc. — 6,380 — (83,507) Net income (loss) attributable to Ecovyst Inc. $ 19,245 $ (1,490) $ 27,120 $ (94,125) Denominator: Weighted average shares outstanding – Basic 138,035,764 136,095,060 137,876,185 136,072,165 Weighted average shares outstanding – Diluted 139,149,560 136,095,060 139,175,659 136,072,165 Net income (loss) per share: Basic income (loss) per share - continuing operations $ 0.14 $ (0.06) $ 0.20 $ (0.08) Diluted income (loss) per share - continuing operations $ 0.14 $ (0.06) $ 0.19 $ (0.08) Basic loss per share - discontinued operations $ — $ 0.05 $ — $ (0.61) Diluted loss per share - discontinued operations $ — $ 0.05 $ — $ (0.61) Basic income (loss) per share $ 0.14 $ (0.01) $ 0.20 $ (0.69) Diluted income (loss) per share $ 0.14 $ (0.01) $ 0.19 $ (0.69)
Schedule of Securities Excluded from Computation of Earnings Per Share	The table below presents the details of the Company’s weighted average equity-based awards outstanding during each respective period that were excluded from the calculation of diluted earnings per share: Three months ended Six months ended 2022 2021 2022 2021 Restricted stock awards with performance only targets not yet achieved 603,993 846,715 608,921 864,946 Stock options with performance only targets not yet achieved 321,368 376,812 324,014 376,812 Anti-dilutive restricted stock awards, restricted stock units and performance stock units 821,278 — — — Anti-dilutive stock options 807,301 — 807,301 —

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	With the exception of operating leases, the following table presents supplemental cash flow information for the consolidated Company: Six months ended 2022 2021 Cash paid during the period for: Income taxes, net of refunds $ 19,843 $ 12,269 Interest (1) 15,818 28,794 Non-cash investing activity: Capital expenditures acquired on account but unpaid as of the period end 2,943 9,230 Non-cash financing activity: Accrued share repurchases (Note 6) 1,715 — Right-of-use assets obtained in exchange for new lease liabilities (non-cash): Operating leases 4,370 5,933 (1) Cash paid for interest is shown net of capitalized interest for the periods presented and excludes $2,307 of net interest proceeds on swaps designated as net investment hedges for the six months ended June 30, 2021, which are included within cash flows from investing activities, discontinued operations in the Company’s condensed consolidated statements of cash flows.
Schedule of Cash and Cash Equivalents	The followin g table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets as of June 30, 2022 and 2021 to the total of the same amounts shown in the condensed consolidated statements of cash flows for the six months then ended: June 30, 2022 2021 Cash and cash equivalents $ 151,228 $ 55,757 Restricted cash included in prepaid and other current assets — 1,651 Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows $ 151,228 $ 57,408
Restrictions on Cash and Cash Equivalents	The followin g table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets as of June 30, 2022 and 2021 to the total of the same amounts shown in the condensed consolidated statements of cash flows for the six months then ended: June 30, 2022 2021 Cash and cash equivalents $ 151,228 $ 55,757 Restricted cash included in prepaid and other current assets — 1,651 Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows $ 151,228 $ 57,408

Background and Basis of Prese_3

Background and Basis of Presentation (Details) $ in Thousands		6 Months Ended
	Dec. 14, 2020 USD ($)	Jun. 30, 2022 segment
Background and Basis of Presentation [Line Items]
Number of reporting units		2
Number of operating segments		2
Performance Materials
Background and Basis of Presentation [Line Items]
Proceeds from agreement to sell Materials business | $	$ 650,000

Performance Materials Divestitu

Performance Materials Divestiture - Income Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Discontinued Operations [Line Items]
Transaction and other related costs	$ 790	$ 610	$ 5,070	$ 1,083
Equity-based compensation	$ 5,385	6,339	$ 12,679	12,644
Performance Materials
Discontinued Operations [Line Items]
Transition Service Agreement Income		1,401		3,061
Transaction and other related costs		84		1,530
Equity-based compensation		630		1,283
Income tax benefit on transaction costs and stock-based compensation expense		$ 192		$ 706

Performance Chemicals Divestitu

Performance Chemicals Divestiture - Loss on Sale (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended		12 Months Ended
	Feb. 28, 2021	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Discontinued Operations [Line Items]
Additional payment for business divestiture			$ (3,744)	$ 0
Performance Chemicals
Discontinued Operations [Line Items]
Performance Chemicals sale price per definitive agreement	$ 1,100,000
Payments for business divestiture					$ 978,449
Loss on sale of the Performance Chemicals business		$ 13,990		109,584
Performance Chemicals | Goodwill
Discontinued Operations [Line Items]
Loss on sale of the Performance Chemicals business				75,080
Performance Chemicals | Valuation Allowance
Discontinued Operations [Line Items]
Loss on sale of the Performance Chemicals business				$ 34,504

Performance Chemicals Divesti_2

Performance Chemicals Divestiture - Income Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Discontinued Operations [Line Items]
Equity in net (income) from affiliated companies	$ 8,504	$ 6,755	$ 14,253	$ 11,965
Net income (loss) from discontinued operations, net of tax	0	6,520	0	(83,250)
Repayments of long-term debt			4,500	900,000
Net income attributable to the noncontrolling interest - discontinued operations	0	140	0	257
Net loss attributable to Ecovyst Inc.	$ 19,245	(1,490)	$ 27,120	(94,125)
Performance Chemicals
Discontinued Operations [Line Items]
Sales		170,374		334,897
Cost of goods sold		118,785		244,638
Selling, general and administrative expenses		11,490		23,206
Other operating (income) expense, net		11,850		29,330
Goodwill impairment charge		0
Operating income (loss)		14,259		(71,861)
Equity in net (income) from affiliated companies		(48)		(86)
Interest expense, net		5,599		8,814
Other income, net		(840)		(6,363)
Income (loss) from discontinued operations before income tax		9,548		(74,226)
Provision for income taxes		2,507		6,918
Net income (loss) from discontinued operations, net of tax		7,041		(81,144)
Repayments of long-term debt				526,363
Net income attributable to the noncontrolling interest - discontinued operations		140		257
Net loss attributable to Ecovyst Inc.		6,901		(81,401)
Loss on sale of the Performance Chemicals business		$ 13,990		109,584
Performance Chemicals | Valuation Allowance
Discontinued Operations [Line Items]
Loss on sale of the Performance Chemicals business				34,504
Performance Chemicals | Goodwill
Discontinued Operations [Line Items]
Loss on sale of the Performance Chemicals business				$ 75,080

Disaggregated Revenue (Details)

Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregated Revenue
Sales	$ 225,172	$ 146,952	$ 404,886	$ 273,576
Ecoservices
Disaggregated Revenue
Sales		120,737		220,959
Catalyst Technologies
Disaggregated Revenue
Sales		26,215		52,617
Operating segments
Disaggregated Revenue
Sales	225,172	146,956	404,886	273,580
Operating segments | Industrial & process chemicals
Disaggregated Revenue
Sales	42,141	18,341	74,995	35,288
Operating segments | Fuels & emission control
Disaggregated Revenue
Sales	83,178	68,794	154,836	123,987
Operating segments | Packaging & engineered plastics
Disaggregated Revenue
Sales	65,819	41,194	115,951	78,217
Operating segments | Natural resources
Disaggregated Revenue
Sales	34,034	18,627	59,104	36,088
Operating segments | Ecoservices
Disaggregated Revenue
Sales	192,968	120,741	347,028	220,963
Operating segments | Ecoservices | Industrial & process chemicals
Disaggregated Revenue
Sales	42,141	18,341	74,995	35,288
Operating segments | Ecoservices | Fuels & emission control
Disaggregated Revenue
Sales	83,178	68,794	154,836	123,987
Operating segments | Ecoservices | Packaging & engineered plastics
Disaggregated Revenue
Sales	33,615	14,979	58,093	25,600
Operating segments | Ecoservices | Natural resources
Disaggregated Revenue
Sales	34,034	18,627	59,104	36,088
Operating segments | Catalyst Technologies
Disaggregated Revenue
Sales	32,204	26,215	57,858	52,617
Operating segments | Catalyst Technologies | Industrial & process chemicals
Disaggregated Revenue
Sales	0	0	0	0
Operating segments | Catalyst Technologies | Fuels & emission control
Disaggregated Revenue
Sales	0	0	0	0
Operating segments | Catalyst Technologies | Packaging & engineered plastics
Disaggregated Revenue
Sales	32,204	26,215	57,858	52,617
Operating segments | Catalyst Technologies | Natural resources
Disaggregated Revenue
Sales	$ 0	0	$ 0	0
Eliminations
Disaggregated Revenue
Sales		(4)		(4)
Eliminations | Ecoservices
Disaggregated Revenue
Sales		(4)		(4)
Eliminations | Catalyst Technologies
Disaggregated Revenue
Sales		$ 0		$ 0

Assets and Liabilities Measured

Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Derivative assets:
Interest rate caps	$ 23,849	$ 1,080
Derivative liabilities:
Interest rate caps	16	1,288
Quoted Prices in Active Markets (Level 1)
Derivative assets:
Interest rate caps	0	0
Derivative liabilities:
Interest rate caps	0	0
Significant Other Observable Inputs (Level 2)
Derivative assets:
Interest rate caps	23,849	1,080
Derivative liabilities:
Interest rate caps	16	1,288
Significant Unobservable Inputs (Level 3)
Derivative assets:
Interest rate caps	0	0
Derivative liabilities:
Interest rate caps	$ 0	$ 0

Pre-tax and After-tax Component

Pre-tax and After-tax Components of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
After-tax amount
Pre-tax amount	$ (1,703)		$ 12,658		$ 14,236	$ 7,313
Tax benefit/ (expense)	(1,573)		(124)		(6,134)	2,082
Total other comprehensive (loss) income	(3,276)	$ 11,378	12,534	$ (3,139)	8,102	9,395
Amortization of net gains
After-tax amount
Pre-tax amount	0		2		1	3
Tax benefit/ (expense)	0		(1)		0	(1)
Total other comprehensive (loss) income	0		1		1	2
Amortization of prior service cost
After-tax amount
Pre-tax amount	(52)		(58)		(105)	(116)
Tax benefit/ (expense)	13		15		26	29
Total other comprehensive (loss) income	(39)		(43)		(79)	(87)
Benefit plans, net
After-tax amount
Pre-tax amount	(52)		(56)		(104)	(113)
Tax benefit/ (expense)	13		14		26	28
Total other comprehensive (loss) income	(39)		(42)		(78)	(85)
Net gain from hedging activities
After-tax amount
Pre-tax amount	6,343		551		24,639	1,571
Tax benefit/ (expense)	(1,586)		(138)		(6,160)	(393)
Total other comprehensive (loss) income	4,757		413		18,479	1,178
Foreign currency translation
After-tax amount
Pre-tax amount	(7,994)		12,163		(10,299)	5,855
Tax benefit/ (expense)	0		0		0	2,447
Total other comprehensive (loss) income	$ (7,994)		$ 12,163		$ (10,299)	$ 8,302

Change by Component (Details)

Change by Component (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 740,737
Ending balance	778,184
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(5,792)	$ (15,265)
Other comprehensive income (loss) before reclassifications	7,575	9,116
Amounts reclassified from accumulated other comprehensive income	527	220
Ending balance	2,310	(5,929)
Defined benefit and other postretirement plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	11,072	5,278
Other comprehensive income (loss) before reclassifications	(155)	(170)
Amounts reclassified from accumulated other comprehensive income	77	85
Ending balance	10,994	5,193
Net gain (loss) from hedging activities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	2,254	(660)
Other comprehensive income (loss) before reclassifications	18,029	1,043
Amounts reclassified from accumulated other comprehensive income	450	135
Ending balance	20,733	518
Foreign currency translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(19,118)	(19,883)
Other comprehensive income (loss) before reclassifications	(10,299)	8,243
Amounts reclassified from accumulated other comprehensive income	0	0
Ending balance	$ (29,417)	$ (11,640)

Reclassifications out of AOCI (

Reclassifications out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expense (income), net	$ 485		$ (1,875)		$ 625	$ 3,299
Interest expense, net	8,888		8,741		17,338	19,197
Income before income taxes and noncontrolling interest	(26,542)		176		(40,137)	8,114
Tax benefit (expense)	7,297		7,694		13,017	2,504
Net (loss) income	(19,245)	$ (7,875)	1,350	$ 92,518	(27,120)	93,868
Amount of gain (loss) reclassified from AOCI into income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net (loss) income	(310)		(94)		(527)	(220)
Defined benefit and other postretirement plans  | Amount of gain (loss) reclassified from AOCI into income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes and noncontrolling interest	(52)		(56)		(103)	(113)
Tax benefit (expense)	13		15		26	28
Net (loss) income	(39)		(41)		(77)	(85)
Prior service (cost) credit | Amount of gain (loss) reclassified from AOCI into income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expense (income), net	(53)		(58)		(105)	(116)
Actuarial gains (losses) | Amount of gain (loss) reclassified from AOCI into income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other expense (income), net	1		2		2	3
Net gain (loss) from hedging activities | Amount of gain (loss) reclassified from AOCI into income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Tax benefit (expense)	88		17		148	44
Net (loss) income	(271)		(53)		(450)	(135)
Net gain (loss) from hedging activities | Amount of gain (loss) reclassified from AOCI into income | Interest rate caps
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense, net	$ (359)		$ (70)		$ (598)	$ (179)

Treasury Stock Repurchases (Det

Treasury Stock Repurchases (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended				6 Months Ended
	Jul. 20, 2022	Apr. 27, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 12, 2020
Equity, Class of Treasury Stock [Line Items]
Average cost per share			$ 9.88				$ 9.88
Repurchases of common shares value			$ 8,842				$ 8,842
Treasury Stock Value, Common, Value Accrued			1,715		$ 0		1,715	$ 0
Remaining authorized repurchase amount			441,158				441,158
Fair value of shares withheld for tax payments			$ 0	$ 332	$ 0	$ 1,470	$ 332	$ 1,470
Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Shares acquired	1,077,640
Average cost per share	$ 9.77
Repurchases of common shares value	$ 10,553
Remaining authorized repurchase amount	$ 430,605
March 2020 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount									$ 50,000
Shares acquired				0	0			0
April 2022 Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount		$ 450,000
Stock repurchase program, period		4 years
Shares acquired			893,123				893,123

Purchase Price Allocation (Deta

Purchase Price Allocation (Details) - USD ($) $ in Thousands		6 Months Ended		12 Months Ended
	Mar. 01, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Business Combination
Payments to Acquire Businesses, Gross	$ 44,000
Cash paid, net of cash acquired			$ 645
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash paid, net of cash acquired	41,994	$ 0	$ 41,994
Goodwill		403,211		$ 406,139
Chem32
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash paid, net of cash acquired				42,639
Holdback		$ 1,000		1,000
Total consideration, net of cash acquired				43,639
Receivables	$ 1,368			1,368
Inventories				204
Prepaid and other current assets				351
Property, plant and equipment				5,046
Other intangible assets				22,100
Other long-term assets				187
Fair value of assets acquired				29,256
Accounts payable				207
Accrued liabilities				188
Fair value of net assets acquired				28,861
Goodwill				14,778
Net assets including goodwill acquired				$ 43,639

Intangible Asset Acquisitions (

Intangible Asset Acquisitions (Details) $ in Thousands	Mar. 01, 2021 USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 22,100
Customer Relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 16,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	10 years
Intellectual Property
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 3,800
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	10 years
Contractual Rights
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 700
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	5 years
Trade Names
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 1,600
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	10 years

Goodwill (Details)

Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Goodwill
Beginning balance	$ 406,139
Goodwill adjustments	(81)
Foreign exchange impact	(2,847)
Ending balance	403,211
Ecoservices
Goodwill
Beginning balance	326,670
Goodwill adjustments	(81)
Foreign exchange impact	0
Ending balance	326,589
Catalyst Technologies
Goodwill
Beginning balance	79,469
Foreign exchange impact	(2,847)
Ending balance	$ 76,622

Other Operating Expense, Net (D

Other Operating Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Other Income and Expenses [Abstract]
Amortization expense	$ 2,644	$ 2,189	$ 5,299	$ 4,374
Transaction and other related costs	790	610	5,070	1,083
Restructuring, integration and business optimization costs	4,746	71	5,099	2,330
Net loss on asset disposals	573	1,601	706	2,379
Other, net	912	494	1,254	306
Other operating expense, net	$ 9,665	$ 4,965	$ 17,428	$ 10,472

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Inventory, Net
Finished products and work in process	$ 48,665	$ 46,894
Raw materials	7,549	6,919
Inventories, net	56,214	53,813
Valued at lower of cost or market:
LIFO basis	24,075	33,330
Valued at lower of cost and net realizable value:
FIFO or average cost basis	32,139	20,483
Inventories, net	$ 56,214	$ 53,813

Ownership Percentage (Details)

Ownership Percentage (Details)	Jun. 30, 2022
Zeolyst International
Schedule of Equity Method Investments
Ownership percentage	50%
Zeolyst C.V.
Schedule of Equity Method Investments
Ownership percentage	50%

Summarized Income Statement (De

Summarized Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Schedule of Equity Method Investments
Gross profit	$ 59,859		$ 38,473		$ 107,594	$ 68,592
Operating income	27,411		11,652		43,847	14,134
Net income	19,245	$ 7,875	(1,350)	$ (92,518)	27,120	(93,868)
Equity Method Investment, Nonconsolidated Investee
Schedule of Equity Method Investments
Sales	84,663		76,060		151,346	142,265
Gross profit	29,168		26,121		52,752	48,067
Operating income	19,476		16,987		34,112	31,161
Net income	$ 20,210		$ 16,751		$ 34,908	$ 30,487

Investments in Affiliated Com_3

Investments in Affiliated Companies Narrative (Details) - Business Combination - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Business Combination
Net purchase accounting fair value adjustments	$ 234,218		$ 234,218		$ 237,419
Amortization of investment in affiliate step-up	$ 1,601	$ 1,620	$ 3,201	$ 3,278

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment
Property, plant and equipment, gross	$ 953,268	$ 935,285
Less: accumulated depreciation	(369,632)	(339,054)
Property, plant and equipment, net	583,636	596,231
Land
Property, Plant and Equipment
Property, plant and equipment, gross	96,665	97,047
Buildings and improvements
Property, Plant and Equipment
Property, plant and equipment, gross	80,418	77,851
Machinery and equipment
Property, Plant and Equipment
Property, plant and equipment, gross	724,348	714,435
Construction in progress
Property, Plant and Equipment
Property, plant and equipment, gross	$ 51,837	$ 45,952

Property, Plant and Equipment N

Property, Plant and Equipment Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 16,142	$ 17,529	$ 32,153	$ 33,533

Long-term Debt (Details)

Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument
Total debt	$ 891,000	$ 895,500
Original issue discount	(8,121)	(8,762)
Deferred financing costs	(4,538)	(4,899)
Total debt, net of original issue discount and deferred financing costs	878,341	881,839
Less: current portion	(9,000)	(9,000)
Total long-term debt, excluding current portion	869,341	872,839
Term Loan Facility | 2021 Term Loan Facility
Debt Instrument
Total debt	891,000	895,500
ABL Facility
Debt Instrument
Total debt	$ 0	$ 0

Long-term Debt Narrative (Detai

Long-term Debt Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
2021 Term Loan Facility
Debt Instrument
Long-term debt, fair value	$ 850,905	$ 894,381

Financial Instruments Narrative

Financial Instruments Narrative (Details) € in Thousands, $ in Thousands					6 Months Ended
	Mar. 31, 2021 USD ($)	Mar. 31, 2020 USD ($)	Feb. 29, 2020 USD ($)	Nov. 30, 2018 USD ($)	Jun. 30, 2022 USD ($)	Jan. 31, 2022 USD ($)	Aug. 31, 2021 USD ($)	Mar. 29, 2021 USD ($)	Jul. 31, 2020 USD ($)	Feb. 28, 2018 EUR (€)
Cash flow hedging
Derivative
Derivative, notional amount novated							$ 900,000
Amount of derivative loss expected to be transferred from OCI					$ 286
Cash flow hedging | November 2018 interest rate caps
Derivative
Derivative, cap interest rate		0.84%	2.50%	3.50%	0.84%
Derivative, notional amount				$ 500,000
Premium paid or amortized to acquire derivative instrument		$ 900	$ 130	$ 3,380	$ 4,410
Cash flow hedging | July 2020 Interest Rate Cap [Member]
Derivative
Derivative, cap interest rate					1%				1%
Derivative, notional amount									$ 400,000
Premium paid or amortized to acquire derivative instrument					$ 137
Cash flow hedging | January 2022 Interest Rate Cap expiring October 2024
Derivative
Derivative, cap interest rate						1%
Derivative, notional amount						$ 250,000
Cash flow hedging | January 2022 Interest Rate Cap expiring October 2025
Derivative
Derivative, cap interest rate						1%
Derivative, notional amount						$ 250,000
Cash flow hedging | January 2022 Interest Rate Cap
Derivative
Premium paid or amortized to acquire derivative instrument					$ 4,450
Net investment hedging | Cross-currency interest rate swaps
Derivative
Derivative, notional amount								$ 311,380		€ 280,000
Premium paid or amortized to acquire derivative instrument	$ 13,170

Fair Value (Details)

Fair Value (Details) - Derivatives designated as hedging instrument - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Derivative assets:
Total derivative assets	$ 23,849	$ 1,080
Derivative liabilities:
Total derivative liabilities	16	1,288
Cash flow hedging | Prepaid and other current assets | Interest rate caps
Derivative assets:
Total derivative assets	9,413	0
Cash flow hedging | Other long-term assets | Interest rate caps
Derivative assets:
Total derivative assets	14,436	1,080
Cash flow hedging | Accrued liabilities | Interest rate caps
Derivative liabilities:
Total derivative liabilities	$ 16	$ 1,288

Effect on Other Comprehensive I

Effect on Other Comprehensive Income (Details) - Interest rate caps - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Amount of gain (loss) recognized in OCI on derivatives
Amount of gain (loss) recognized in OCI on derivatives	$ 5,985	$ 479	$ 24,041	$ 1,391
Interest expense
Amount of gain (loss) reclassified from AOCI into income
Amount of gain (loss) reclassified from AOCI into income	$ (359)	$ (70)	$ (598)	$ (179)

Cash Flow Hedge Impact on Incom

Cash Flow Hedge Impact on Income Statement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative
Cost of goods sold	$ (165,313)	$ (108,479)	$ (297,292)	$ (204,984)
Interest Expense	(8,888)	(8,741)	(17,338)	(19,197)
Gain (loss) on cash flow hedging relationships | Amount of gain (loss) reclassified from AOCI into income
Derivative
Interest Expense	$ (359)	$ (70)	$ (598)	$ (179)

Net Investment Hedge Impact on

Net Investment Hedge Impact on AOCI (Details) - Cross-currency interest rate swaps - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative
Amount of gain (loss) recognized in OCI on derivative	$ 0	$ 0	$ 0	$ 9,787
Net (loss) income from discontinued operations, net of tax
Derivative
Amount of gain (loss) reclassified from AOCI into income	0	0	0	0
Interest (expense) income
Derivative
Amount of gain (loss) recognized in income on derivative (amount excluded from effectiveness testing)	$ 0	$ 0	$ 0	$ 545

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate	27.50%	(4371.60%)	32.40%	(30.90%)

Net Periodic Pension Expense Be

Net Periodic Pension Expense Benefit (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Defined Benefit Pension Plans
Defined Benefit Plan, Net Periodic Expense (Benefit)
Interest cost	$ 604	$ 551	$ 1,207	$ 1,102
Expected return on plan assets	(1,110)	(1,094)	(2,219)	(2,187)
Net periodic benefit	(506)	(543)	(1,012)	(1,085)
Other Postretirement Benefits Plans
Defined Benefit Plan, Net Periodic Expense (Benefit)
Interest cost	5	4	9	8
Amortization of prior service credit	(53)	(58)	(105)	(116)
Amortization of net loss	1	2	2	3
Net periodic benefit	$ (47)	$ (52)	$ (94)	$ (105)

Summary Financial Information b

Summary Financial Information by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting
Sales	$ 225,172	$ 146,952	$ 404,886	$ 273,576
Adjusted EBITDA	72,891	52,683	132,131	94,987
Equity in net (income) from affiliated companies	8,504	6,755	14,253	11,965
Ecoservices
Segment Reporting
Sales		120,737		220,959
Catalyst Technologies
Segment Reporting
Sales		26,215		52,617
Operating segments
Segment Reporting
Sales	225,172	146,956	404,886	273,580
Operating segments | Ecoservices
Segment Reporting
Sales	192,968	120,741	347,028	220,963
Adjusted EBITDA	59,984	40,450	109,325	73,452
Operating segments | Catalyst Technologies
Segment Reporting
Sales	32,204	26,215	57,858	52,617
Adjusted EBITDA	21,429	20,714	38,404	39,183
Operating segments | Corporate Segment
Segment Reporting
Adjusted EBITDA	(8,522)	(8,481)	(15,598)	(17,648)
Eliminations
Segment Reporting
Sales	0	(4)	0	(4)
Zeolyst Joint Venture | Catalyst Technologies
Segment Reporting
Sales	35,906	33,186	64,883	62,164
Adjusted EBITDA	14,128	12,055	25,602	22,592
Equity in net (income) from affiliated companies	8,526	6,779	14,313	12,014
Amortization of investment in affiliate step-up	1,600	1,620	3,201	3,278
Joint venture depreciation, amortization and interest	$ 4,001	$ 3,656	$ 8,087	$ 7,300

Reconciliation of Net Loss to S

Reconciliation of Net Loss to Segment Adjusted EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Reporting Information
Net income (loss) from continuing operations	$ 19,245	$ (7,870)	$ 27,120	$ (10,618)
Provision for income taxes	7,297	7,694	13,017	2,504
Interest expense, net	8,888	8,741	17,338	19,197
Depreciation and amortization	19,658	19,985	39,204	39,485
EBITDA	55,088	28,550	96,679	50,568
Debt extinguishment costs	0	(11,717)	0	(11,717)
Net loss on asset disposals	573	1,601	706	2,379
Foreign exchange losses (gains)			1,148	3,882
Transaction and other related costs	790	610	5,070	1,083
Equity-based compensation	5,385	6,339	12,679	12,644
Adjusted EBITDA	72,891	52,683	132,131	94,987
Segment reconciling items
Segment Reporting Information
Joint venture depreciation, amortization and interest	4,001	3,656	8,087	7,300
Amortization of investment in affiliate step-up	1,601	1,620	3,201	3,278
Debt extinguishment costs	0	11,717	0	11,717
Net loss on asset disposals	573	1,601	706	2,379
Foreign exchange losses (gains)	502	(1,219)	1,148	3,882
LIFO expense (benefit)	187	(450)	432	(703)
Transaction and other related costs	790	610	5,070	1,083
Equity-based compensation	5,385	6,339	12,679	12,644
Restructuring, integration and business optimization expenses	4,746	71	5,098	2,330
Defined benefit pension plan benefit	(553)	(595)	(1,106)	(1,190)
Other	$ 571	$ 783	$ 137	$ 1,699

Stock-Based Compensation Narrat

Stock-Based Compensation Narrative (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares available for grant (shares)	9,327,270
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Granted	2,750,234
Unrecognized stock-based compensation expense | $	$ 28,229
Unrecognized stock-based compensation expense, period for recognition	1 year 8 months 12 days
Performance Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Granted	295,132
Unrecognized stock-based compensation expense | $	$ 4,353
Unrecognized stock-based compensation expense, period for recognition	1 year 8 months 19 days
Performance Stock Units (PSUs) | 2019 Grants
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting percentage	100%
Director | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting period	1 year
Employee | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting period	3 years
Minimum | Performance Stock Units (PSUs) | 2019 Grants
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting percentage	0%
Minimum | Performance Stock Units (PSUs) | 2022 Grants
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting percentage	0%
Maximum | Performance Stock Units (PSUs) | 2019 Grants
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting percentage	200%
Maximum | Performance Stock Units (PSUs) | 2022 Grants
Share-based Compensation Arrangement by Share-based Payment Award
Award vesting percentage	200%

Performance Stock Units Assumpt

Performance Stock Units Assumptions and Methodology (Details) - Performance Stock Units (PSUs) - 2022 Grants	6 Months Ended
	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected dividend yield	0%
Risk-free interest rate	1.51%
Expected volatility	44.51%
Expected term (in years)	2 years 10 months 28 days

Schedule of RSU and PSU Activit

Schedule of RSU and PSU Activity (Details)	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Restricted Stock Units (RSUs)
Number of Units
Nonvested, beginning balance | shares	2,507,421
Granted | shares	2,750,234
Vested | shares	(1,325,654)
Forfeited | shares	(945,212)
Nonvested, ending balance | shares	2,986,789
Weighted Average Grant Date Fair Value (per share)
Weighted average grant date fair value, nonvested, beginning balance | $ / shares	$ 15.68
Weighted average grant date fair value, granted | $ / shares	10.28
Weighted average grant date fair value, vested | $ / shares	15.67
Weighted average grant date fair value, forfeited | $ / shares	12.64
Weighted average grant date fair value, nonvested, ending balance | $ / shares	$ 11.68
Performance Stock Units (PSUs)
Number of Units
Nonvested, beginning balance | shares	1,117,555
Granted | shares	295,132
Vested | shares	(496,442)
Forfeited | shares	(165,807)
Nonvested, ending balance | shares	750,438
Weighted Average Grant Date Fair Value (per share)
Weighted average grant date fair value, nonvested, beginning balance | $ / shares	$ 16.91
Weighted average grant date fair value, granted | $ / shares	8.82
Weighted average grant date fair value, vested | $ / shares	15.41
Weighted average grant date fair value, forfeited | $ / shares	12.46
Weighted average grant date fair value, nonvested, ending balance | $ / shares	$ 15.70

Stock-based compensation expens

Stock-based compensation expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-Based Payment Arrangement [Abstract]
Share-based payment arrangement, expense	$ 5,385	$ 6,339	$ 12,679	$ 12,644
Stock-based compensation expense, tax benefit	$ 1,321	$ 1,552	$ 3,109	$ 3,095

Reconciliation from Basic to Di

Reconciliation from Basic to Diluted Weighted Average Shares Outstanding (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Weighted average shares outstanding – Basic (shares)	138,035,764	136,095,060	137,876,185	136,072,165
Dilutive effect of unvested common shares and restricted stock units with service conditions, performance stock units considered probable of vesting and assumed stock option exercises and conversions (shares)	1,113,796	0	1,299,474	0
Weighted average shares outstanding – Diluted (shares)	139,149,560	136,095,060	139,175,659	136,072,165

Calculation of Basic and Dilute

Calculation of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Income (loss) from continuing operations attributable to Ecovyst Inc.	$ 19,245	$ (7,870)	$ 27,120	$ (10,618)
Income (loss) from discontinued operations attributable to Ecovyst Inc.	0	6,380	0	(83,507)
Net income (loss) attributable to Ecovyst Inc.	$ 19,245	$ (1,490)	$ 27,120	$ (94,125)
Denominator:
Weighted average shares outstanding – Basic (shares)	138,035,764	136,095,060	137,876,185	136,072,165
Weighted average shares outstanding – Diluted (shares)	139,149,560	136,095,060	139,175,659	136,072,165
Net income (loss) per share:
Basic income (loss) per share—continuing operations	$ 0.14	$ (0.06)	$ 0.20	$ (0.08)
Diluted income (loss) per share—continuing operations	0.14	(0.06)	0.19	(0.08)
Basic loss per share—discontinued operations	0	0.05	0	(0.61)
Diluted loss per share—discontinued operations	0	0.05	0	(0.61)
Basic income (loss) per share	0.14	(0.01)	0.20	(0.69)
Diluted income (loss) per share	$ 0.14	$ (0.01)	$ 0.19	$ (0.69)

Anti-dilutive Shares (Details)

Anti-dilutive Shares (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Restricted stock awards with performance only targets not yet achieved
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive (shares)	603,993	846,715	608,921	864,946
Stock options with performance only targets not yet achieved
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive (shares)	321,368	376,812	324,014	376,812
Restricted Stock, Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive (shares)	821,278	0	0	0
Anti-dilutive stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share
Antidilutive (shares)	807,301	0	807,301	0

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash paid during the period for:
Income taxes, net of refunds	$ 19,843	$ 12,269
Interest	15,818	28,794
Non-cash investing activity:
Capital expenditures acquired on account but unpaid as of the period end	2,943	9,230
Right-of-use assets obtained in exchange for new lease liabilities (non-cash):
Operating leases	4,370	5,933
Proceeds from hedge, investing activities		2,307
Treasury Stock Value, Common, Value Accrued	$ 1,715	$ 0

Cash and Restricted Cash Reconc

Cash and Restricted Cash Reconciliation (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Restricted Cash [Abstract]
Cash and cash equivalents	$ 151,228	$ 140,889	$ 55,757
Restricted cash included in prepaid and other current assets	0		1,651
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows	$ 151,228		$ 57,408

Subsequent Events (Details)

Subsequent Events (Details) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022 USD ($) $ / shares	Jun. 30, 2022 USD ($) $ / shares
Subsequent Events [Abstract]
Average cost per share | $ / shares	$ 9.88	$ 9.88
Repurchases of common shares value | $	$ 8,842	$ 8,842