ChampionX (CHX) 10-Q 27 Jul 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2022	Jul. 21, 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	001-38441
Entity Registrant Name	ChampionX Corp
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-3066826
Entity Address, Address Line One	2445 Technology Forest Blvd,
Entity Address, Address Line Two	Building 4, 12th Floor
Entity Address, City or Town	The Woodlands,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77381
City Area Code	(281)
Local Phone Number	403-5772
Security 12b Title	Common stock, $0.01 par value
Trading Symbol	CHX
Security Exchange Name	NASDAQ
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		202,932,903
Entity Central Index Key	0001723089
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 (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue:
Lease and other revenue	$ 23,176	$ 18,550	$ 42,074	$ 37,455
Total revenue	932,572	749,172	1,798,532	1,434,060
Cost of goods and services	720,684	569,167	1,379,034	1,091,723
Gross profit	211,888	180,005	419,498	342,337
Costs and expenses:
Selling, general and administrative expense	141,351	152,341	291,711	295,819
Interest expense, net	10,765	14,064	22,128	28,035
Other (income) expense, net	32,281	2,251	33,601	315
Income before income taxes	27,491	11,349	72,058	18,168
Provision for (benefit from) income taxes	(1,405)	3,563	4,989	6,345
Net income	28,896	7,786	67,069	11,823
Less: Net income (loss) attributable to noncontrolling interest	1,554	536	3,025	(1,199)
Net income attributable to ChampionX	$ 27,342	$ 7,250	$ 64,044	$ 13,022
Earnings per share attributable to ChampionX:
Basic (in dollars per share)	$ 0.13	$ 0.04	$ 0.32	$ 0.06
Diluted (in dollars per share)	$ 0.13	$ 0.03	$ 0.31	$ 0.06
Weighted-average shares outstanding:
Weighted-average shares outstanding, basic (in shares)	203,322	201,467	203,200	201,063
Weighted-average shares outstanding, diluted (in shares)	208,714	208,541	208,863	207,939
Product revenue
Revenue:
Revenue	$ 807,553	$ 649,399	$ 1,558,221	$ 1,234,756
Service revenue
Revenue:
Revenue	$ 101,843	$ 81,223	$ 198,237	$ 161,849

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - 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	$ 28,896	$ 7,786	$ 67,069	$ 11,823
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	21,169	8,332	19,604	11,545
Cash flow hedges	(3,403)	(277)	(4,702)	136
Defined pension and other post-retirement benefits adjustments, net	70	6,373	139	6,540
Other comprehensive income	17,836	14,428	15,041	18,221
Comprehensive income	46,732	22,214	82,110	30,044
Less: Comprehensive income (loss) attributable to noncontrolling interest	1,554	536	3,025	(1,199)
Comprehensive income attributable to ChampionX	$ 45,178	$ 21,678	$ 79,085	$ 31,243

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 167,282	$ 251,678
Restricted cash	3,500	3,500
Receivables, net	614,607	584,440
Inventories, net	606,956	542,910
Assets held for sale	25,455	7,217
Prepaid expenses and other current assets	52,116	71,155
Total current assets	1,469,916	1,460,900
Property, plant and equipment, net of accumulated depreciation of $646,795 in 2022 and $618,867 in 2021	746,408	776,813
Goodwill	724,398	702,867
Intangible assets, net	351,374	401,470
Operating lease right-of-use assets	101,350	115,458
Other non-current assets	69,705	77,193
Total assets	3,463,151	3,534,701
Current Liabilities:
Current portion of long-term debt	4,688	26,850
Accounts payable	496,197	473,561
Accrued compensation and employee benefits	54,864	93,131
Current portion of operating lease liabilities	32,438	36,389
Accrued distributor fees	35,166	25,621
Liabilities held for sale	10,428	0
Accrued expenses and other current liabilities	119,252	146,773
Total current liabilities	753,033	802,325
Long-term debt	694,430	697,657
Deferred income taxes	84,709	137,971
Operating lease liabilities	64,138	73,521
Other long-term liabilities	73,986	68,920
Total liabilities	1,670,296	1,780,394
Stockholders’ equity:
Common stock (2.5 billion shares authorized, $0.01 par value) 202.9 million shares and 202.9 million shares issued and outstanding in 2022 and 2021, respectively	2,029	2,029
Capital in excess of par value of common stock	2,315,965	2,315,399
Accumulated deficit	(503,089)	(525,158)
Accumulated other comprehensive loss	(6,584)	(21,625)
ChampionX stockholders’ equity	1,808,321	1,770,645
Noncontrolling interest	(15,466)	(16,338)
Total equity	1,792,855	1,754,307
Total liabilities and equity	$ 3,463,151	$ 3,534,701

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Accumulated depreciation on property, plant, and equipment	$ 646,795	$ 618,867
Common stock, shares authorized (in shares)	2,500,000,000	2,500,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued (in shares)	202,900,000	202,900,000
Common stock, shares outstanding (in shares)	202,900,000	202,900,000

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock, Par Value	Common Stock, Capital in Excess of Par Value	Accum. Deficit	Accum. Other Comp. Loss	Non-controlling Interest
Beginning balance (in shares) at Dec. 31, 2020		200,380,000
Beginning balance at Dec. 31, 2020	$ 1,612,575	$ 2,004	$ 2,293,179	$ (638,457)	$ (30,755)	$ (13,396)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	4,037			5,772		(1,735)
Other comprehensive income (loss)	3,793				3,793
Stock-based compensation (in shares)		64,000
Stock-based compensation	6,442		6,442
Stock options exercised (in shares)		577,000
Stock options exercised	3,347	$ 6	3,341
Taxes withheld on issuance of stock-based awards	(556)		(556)
Cumulative translation adjustments	268					268
Distributions to noncontrolling interest	(800)					(800)
Ending balance (in shares) at Mar. 31, 2021		201,021,000
Ending balance at Mar. 31, 2021	1,629,106	$ 2,010	2,302,406	(632,685)	(26,962)	(15,663)
Beginning balance (in shares) at Dec. 31, 2020		200,380,000
Beginning balance at Dec. 31, 2020	1,612,575	$ 2,004	2,293,179	(638,457)	(30,755)	(13,396)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	11,823
Other comprehensive income (loss)	18,221
Ending balance (in shares) at Jun. 30, 2021		201,700,000
Ending balance at Jun. 30, 2021	1,658,957	$ 2,017	2,310,267	(625,435)	(12,534)	(15,358)
Beginning balance (in shares) at Mar. 31, 2021		201,021,000
Beginning balance at Mar. 31, 2021	1,629,106	$ 2,010	2,302,406	(632,685)	(26,962)	(15,663)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	7,786			7,250		536
Other comprehensive income (loss)	14,428				14,428
Stock-based compensation (in shares)		101,000
Stock-based compensation	5,914		5,914
Stock options exercised (in shares)		578,000
Stock options exercised	3,162	$ 7	3,155
Taxes withheld on issuance of stock-based awards	(1,208)		(1,208)
Cumulative translation adjustments	(231)					(231)
Ending balance (in shares) at Jun. 30, 2021		201,700,000
Ending balance at Jun. 30, 2021	$ 1,658,957	$ 2,017	2,310,267	(625,435)	(12,534)	(15,358)
Beginning balance (in shares) at Dec. 31, 2021	202,900,000	202,866,000
Beginning balance at Dec. 31, 2021	$ 1,754,307	$ 2,029	2,315,399	(525,158)	(21,625)	(16,338)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	38,173			36,702		1,471
Other comprehensive income (loss)	(2,795)				(2,795)
Stock-based compensation (in shares)		290,000
Stock-based compensation	4,728	$ 3	4,725
Stock options exercised (in shares)		189,000
Stock options exercised	1,055	$ 1	1,054
Taxes withheld on issuance of stock-based awards	(2,639)		(2,639)
Dividends declared to common stockholders ($0.075 per share)	(15,465)			(15,465)
Cumulative translation adjustments	208					208
Ending balance (in shares) at Mar. 31, 2022		203,345,000
Ending balance at Mar. 31, 2022	$ 1,777,572	$ 2,033	2,318,539	(503,921)	(24,420)	(14,659)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared to common shareholders (in dollars per share)	$ 0.075
Beginning balance (in shares) at Dec. 31, 2021	202,900,000	202,866,000
Beginning balance at Dec. 31, 2021	$ 1,754,307	$ 2,029	2,315,399	(525,158)	(21,625)	(16,338)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	67,069
Other comprehensive income (loss)	$ 15,041
Repurchase and cancellation of common stock (in shares)	(789,516)
Repurchase and cancellation of common stock	$ (20,000)
Ending balance (in shares) at Jun. 30, 2022	202,900,000	202,931,000
Ending balance at Jun. 30, 2022	$ 1,792,855	$ 2,029	2,315,965	(503,089)	(6,584)	(15,466)
Beginning balance (in shares) at Mar. 31, 2022		203,345,000
Beginning balance at Mar. 31, 2022	1,777,572	$ 2,033	2,318,539	(503,921)	(24,420)	(14,659)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	28,896			27,342		1,554
Other comprehensive income (loss)	17,836				17,836
Stock-based compensation (in shares)		64,000
Stock-based compensation	5,071	$ 1	5,070
Stock options exercised (in shares)		312,000
Stock options exercised	2,090	$ 3	2,087
Taxes withheld on issuance of stock-based awards	(739)		(739)
Dividends declared to common stockholders ($0.075 per share)	$ (15,494)			(15,494)
Repurchase and cancellation of common stock (in shares)	(789,516)	(790,000)
Repurchase and cancellation of common stock	$ (20,016)	$ (8)	(8,992)	(11,016)
Cumulative translation adjustments	8					8
Distributions to noncontrolling interest	$ (2,369)					(2,369)
Ending balance (in shares) at Jun. 30, 2022	202,900,000	202,931,000
Ending balance at Jun. 30, 2022	$ 1,792,855	$ 2,029	$ 2,315,965	$ (503,089)	$ (6,584)	$ (15,466)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared to common shareholders (in dollars per share)	$ 0.075

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares		3 Months Ended
	May 12, 2022	Jun. 30, 2022	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared to common shareholders (in dollars per share)	$ 0.075	$ 0.075	$ 0.075

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net income	$ 67,069	$ 11,823
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation and amortization	117,229	120,387
Loss on disposal group held for sale	22,924	0
Stock-based compensation	9,799	12,356
Provision for inventory obsolescence and write-downs	6,926	6,200
Loss on debt extinguishment	4,043	3,305
Deferred income taxes	(34,386)	(1,757)
(Gain) loss on disposal of fixed assets	(6,284)	3,176
Provision (recovery) for bad debt	(732)	86
Amortization of deferred loan costs and accretion of discount	1,766	1,628
Employee benefit plan expense	1,303	1,250
Other	234	167
Changes in operating assets and liabilities (net of effects of foreign exchange):
Receivables	(42,456)	(18,706)
Inventories	(81,935)	(41,586)
Prepaid expenses and other current assets	16,793	9,215
Accounts payable	21,507	92,997
Accrued compensation and employee benefits	(39,774)	(2,444)
Accrued expenses and other liabilities	(18,302)	(46,447)
Leased assets	(13,949)	(1,609)
Other	(660)	1,097
Net cash flows provided by operating activities	31,115	151,138
Cash flows from investing activities:
Capital expenditures	(53,555)	(45,680)
Proceeds from sale of fixed assets	14,946	2,482
Acquisitions, net of cash acquired	(3,198)	0
Net cash used for investing activities	(41,807)	(43,198)
Cash flows from financing activities:
Proceeds from long-term debt	844,838	0
Repayment of long-term debt	(869,987)	(71,113)
Payment of debt issue costs	(8,008)	0
Repurchases of common stock	(20,016)	0
Dividends paid	(15,465)	0
Payments related to taxes withheld on stock-based compensation	(3,378)	(1,764)
Proceeds from exercise of stock options	3,145	6,509
Distributions to noncontrolling interest	(2,369)	(800)
Payment of finance lease obligations	(3,123)	(2,575)
Net cash used for financing activities	(74,363)	(69,743)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	659	(623)
Net increase (decrease) in cash and cash equivalents and restricted cash	(84,396)	37,574
Cash and cash equivalents and restricted cash at beginning of period	255,178	201,421
Cash and cash equivalents and restricted cash at end of period	$ 170,782	$ 238,995

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of the Business ChampionX Corporation is a global leader in chemistry solutions and highly engineered equipment and technologies that help companies drill for and produce oil and gas safely, efficiently and sustainably around the world. Our products provide efficient and safe operations throughout the lifecycle of a well with a focus on the production phase of wells. Unless the context requires otherwise, references in this report to “we,” “us,” “our,” “the Company,” or “ChampionX” mean ChampionX Corporation, together with our subsidiaries where the context requires. Basis of Presentation The accompanying unaudited condensed consolidated financial statements of ChampionX have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) pertaining to interim financial information. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP have been condensed or omitted. Therefore, these financial statements should be read in conjunction with the audited consolidated financial statements, and notes thereto, which are included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021. The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Although these estimates are based on management’s best knowledge of current events and actions that we may undertake in the future, actual results may differ from our estimates. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments unless otherwise specified) necessary for a fair statement of our financial condition and results of operations as of and for the periods presented. Revenue, expenses, assets and liabilities can vary during each quarter of the year. Therefore, the results and trends in these financial statements may not be representative of the results that may be expected for the year ending December 31, 2022. Significant Accounting Policies Please refer to “Note 1 – Basis of Presentation and Summary of Significant Accounting Policies” to our consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021 for the discussion of our significant accounting policies. New Accounting Standards All new accounting pronouncements that have been issued but not yet effective are currently being evaluated and at this time are not expected to have a material impact on our financial position or results of operations.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION Our reporting segments are: • Production Chemical Technologies—provides oil and natural gas production and midstream markets with solutions to manage and control corrosion, oil and water separation, flow assurance, sour gas treatment and a host of water-related issues. • Production & Automation Technologies—designs, manufactures, markets and services a full range of artificial lift equipment, end-to-end digital automation solutions, as well as other production equipment and asset monitoring technologies. Production & Automation Technologies’ products are sold under a collection of brands including Harbison-Fischer, Norris, Alberta Oil Tool, Oil Lift Technology, PCS Ferguson, Pro-Rod, Upco, Unbridled ESP, Scientific Aviation, Norriseal-Wellmark, Quartzdyne, Spirit, Theta, Timberline, Windrock, and Leak Surveys (“LSI”). • Drilling Technologies—designs, manufactures and markets polycrystalline diamond cutters and bearings primarily for use in oil and gas drill bits under the US Synthetic brand. • Reservoir Chemical Technologies—manufactures specialty products that support well stimulation, construction (including drilling and cementing) and well intervention in the oil and natural gas industry. We refer to our Production Chemical Technologies segment and our Reservoir Chemical Technologies segment collectively as our Chemical Technologies business. Business activities that do not meet the criteria of an operating segment have been combined into Corporate and other. Corporate and other includes (i) corporate and overhead expenses, and (ii) revenue and costs for activities that are not operating segments. Segment revenue and segment operating profit Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2022 2021 2022 2021 Segment revenue: Production Chemical Technologies $ 552,411 $ 447,049 $ 1,067,383 $ 859,420 Production & Automation Technologies 242,399 188,173 462,748 355,018 Drilling Technologies 57,858 37,589 114,717 72,583 Reservoir Chemical Technologies 44,114 33,222 84,014 63,113 Corporate and other (1) 35,790 43,139 69,670 83,926 Total revenue $ 932,572 $ 749,172 $ 1,798,532 $ 1,434,060 Segment operating profit (loss): Production Chemical Technologies $ 25,606 $ 33,871 $ 56,869 $ 64,228 Production & Automation Technologies 23,650 12,292 48,360 17,654 Drilling Technologies 15,043 3,868 30,263 10,254 Reservoir Chemical Technologies (8,147) (2,594) (11,616) (5,822) Total segment operating profit 56,152 47,437 123,876 86,314 Corporate and other (1) 17,896 22,024 29,690 40,111 Interest expense, net 10,765 14,064 22,128 28,035 Income before income taxes $ 27,491 $ 11,349 $ 72,058 $ 18,168 _______________________

Revenue

Revenue	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	REVENUE Our revenue is generated primarily from product sales. Service revenue is generated from providing services to our customers. These services include installation, repair and maintenance, laboratory and logistics services, chemical management services, troubleshooting, reporting, water treatment services, technical advisory assistance, emissions detection and monitoring, and other field services. Lease revenue is derived from rental income of leased production equipment. As our costs are shared across the various revenue categories, cost of goods sold is not tracked separately and is not discretely identifiable. In certain geographical areas, the Company utilizes joint ventures and independent third-party distributors and sales agents to sell and market products and services. Amounts payable to independent third-party distributors and sales agents may fluctuate based on sales and timing of distributor fee payments. For services rendered by such independent third-party distributors and sales agents, the Company records the consideration received on a net basis within product revenue in our condensed consolidated statements of income. Additionally, amounts owed to distributors and sales agents are reported within accrued distributor fees within our condensed consolidated balance sheets. Revenue disaggregated by geography was as follows: Three Months Ended June 30, 2022 (in thousands) Production Chemical Technologies Production & Automation Technologies Drilling Technologies Reservoir Chemical Technologies Corporate and other (1) Total United States $ 205,457 $ 187,982 $ 45,848 $ 31,038 $ 20,039 $ 490,364 Latin America 124,540 6,358 — 3,221 905 135,024 Middle East & Africa 76,028 19,062 1,220 5,561 287 102,158 Canada 72,581 17,484 3,477 633 37 94,212 Europe 45,889 3,384 5,156 968 3,297 58,694 Asia-Pacific 9,518 784 2,142 909 11,225 24,578 Australia 4,960 7,308 15 91 — 12,374 Other 13,438 37 — 1,693 — 15,168 Total revenue $ 552,411 $ 242,399 $ 57,858 $ 44,114 $ 35,790 $ 932,572 Three Months Ended June 30, 2021 (in thousands) Production Chemical Technologies Production & Automation Technologies Drilling Technologies Reservoir Chemical Technologies Corporate and other (1) Total United States $ 156,852 $ 141,799 $ 30,392 $ 19,589 $ 30,225 $ 378,857 Latin America 93,389 4,530 — 3,587 1,261 102,767 Middle East & Africa 66,213 13,358 1,446 6,534 1,945 89,496 Canada 63,639 14,754 1,986 377 124 80,880 Europe 41,046 1,790 2,278 1,101 3,690 49,905 Asia-Pacific 10,562 2,743 853 1,393 5,894 21,445 Australia 5,994 9,182 13 30 — 15,219 Other 9,354 17 621 611 — 10,603 Total revenue $ 447,049 $ 188,173 $ 37,589 $ 33,222 $ 43,139 $ 749,172 Six Months Ended June 30, 2022 (in thousands) Production Chemical Technologies Production & Automation Technologies Drilling Technologies Reservoir Chemical Technologies Corporate and other (1) Total United States $ 396,363 $ 355,784 $ 92,667 $ 56,259 $ 41,893 $ 942,966 Latin America 224,145 11,361 — 6,811 1,630 243,947 Middle East & Africa 150,072 35,773 2,909 13,282 601 202,637 Canada 148,380 36,936 6,418 1,111 63 192,908 Europe 94,910 5,729 8,866 1,871 6,768 118,144 Asia-Pacific 18,001 2,455 3,817 1,954 18,715 44,942 Australia 10,803 14,583 15 199 — 25,600 Other 24,709 127 25 2,527 — 27,388 Total revenue $ 1,067,383 $ 462,748 $ 114,717 $ 84,014 $ 69,670 $ 1,798,532 Six Months Ended June 30, 2021 (in thousands) Production Chemical Technologies Production & Automation Technologies Drilling Technologies Reservoir Chemical Technologies Corporate and other (1) Total United States $ 306,716 $ 267,712 $ 55,799 $ 35,198 $ 56,242 $ 721,667 Latin America 165,005 9,172 — 6,606 2,692 183,475 Middle East & Africa 124,583 24,091 2,162 12,596 7,067 170,499 Canada 124,931 27,282 5,813 1,106 282 159,414 Europe 83,654 3,773 4,777 2,490 5,947 100,641 Asia-Pacific 21,054 4,206 2,406 2,513 11,696 41,875 Australia 12,389 18,758 130 84 — 31,361 Other 21,088 24 1,496 2,520 — 25,128 Total revenue $ 859,420 $ 355,018 $ 72,583 $ 63,113 $ 83,926 $ 1,434,060 ______________________ (1) Revenues associated with sales under the Cross Supply and Product Transfer Agreement with Ecolab are included within Corporate and other. Revenue is attributed to regions based on the location of our direct customer, which in some instances is an intermediary and not necessarily the end user. Contract Balances The beginning and ending contract asset and contract liability balances from contracts with customers were as follows: (in thousands) June 30, 2022 December 31, 2021 Contract assets $ — $ — Contract liabilities - current $ 16,700 $ 15,246

Intangible Assets and Goodwill

Intangible Assets and Goodwill	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	INTANGIBLE ASSETS AND GOODWILL Intangible Assets The components of our definite- and indefinite-lived intangible assets were as follows: June 30, 2022 December 31, 2021 (in thousands) Gross Accumulated Net Gross Accumulated Net Definite-lived Customer relationships $ 585,450 $ 386,613 $ 198,837 $ 593,242 $ 365,773 $ 227,469 Unpatented technologies 142,760 46,815 95,945 142,540 37,264 105,276 Favorable supply agreements 59,000 40,164 18,836 59,000 30,546 28,454 Trademarks 59,869 34,163 25,706 59,873 32,270 27,603 Patents 38,577 31,417 7,160 38,735 31,080 7,655 Other 5,357 5,267 90 5,390 5,177 213 891,013 544,439 346,574 898,780 502,110 396,670 Indefinite-lived Trademarks 3,600 — 3,600 3,600 — 3,600 In-process research and development 1,200 — 1,200 1,200 — 1,200 4,800 — 4,800 4,800 — 4,800 Total $ 895,813 $ 544,439 $ 351,374 $ 903,580 $ 502,110 $ 401,470 Goodwill The carrying amount of goodwill, including changes therein, by reportable segment is below: (in thousands) Production Chemical Technologies Production & Automation Technologies Drilling Technologies Reservoir Chemical Technologies Total December 31, 2021 $ 356,638 $ 205,467 $ 101,136 $ 39,626 $ 702,867 Acquisition (1) — 6,345 — — 6,345 Allocated to disposal group (2) (3,339) — — — (3,339) Foreign currency translation 17,146 (156) — 1,535 18,525 June 30, 2022 $ 370,445 $ 211,656 $ 101,136 $ 41,161 $ 724,398 _______________________ (1) See Note 11—Acquisitions and Divestitures for additional information related to the acquisition of LSI completed during the first quarter of 2022. (2) See Note 11—Acquisitions and Divestitures for additional information on the reclassification of assets and liabilities held for sale as part of the planned divestiture of our operations in Russia. Goodwill is not subject to amortization but is tested for impairment on an annual basis or more frequently if impairment indicators arise.

Debt

Debt	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Debt	DEBT Long-term debt consisted of the following: (in thousands) June 30, 2022 December 31, 2021 2022 Revolving Credit Facility $ 96,200 $ — 2018 Term Loan Facility — 140,000 2020 Term Loan Facility — 496,725 2022 Term Loan Facility 625,000 — 6.375% Senior Notes due 2026 — 92,041 Total 721,200 728,766 Net unamortized discounts and issuance costs (22,082) (4,259) Total long-term debt 699,118 724,507 Current portion of long-term debt (1) (4,688) (26,850) Long-term debt, less current portion $ 694,430 $ 697,657 _______________________ (1) Represents the mandatory amortization payments due within twelve months related to the 2022 Term Loan Facility as of June 30, 2022 and 2020 Term Loan Facility as of December 31, 2021. On May 9, 2018, we entered into a credit agreement (“Credit Agreement”) governing the terms of, among other things, a 7-year senior secured term loan B facility that had an initial commitment of $415 million (the “2018 Term Loan Facility”), and on June 3, 2020, ChampionX Holdings Inc. entered into a term loan facility for $537.0 million (the “2020 Term Loan Facility”). On June 7, 2022, we entered into a restated credit agreement (the “Restated Credit Agreement”), which amends and restates the Credit Agreement. The Restated Credit Agreement provides for (i) a $625 million 7-year senior secured term loan B facility (the “2022 Term Loan Facility”) and (ii) a five-year senior secured revolving credit facility in an aggregate principal amount of $700 million, of which $100 million is available for the issuance of letters of credit (the “2022 Revolving Credit Facility,” together with the 2022 Term Loan Facility, the “Senior Secured Credit Facility”). The full amount of the 2022 Term Loan Facility was funded, and $135 million of the 2022 Revolving Credit Facility was drawn, on June 7, 2022, with the aggregate proceeds used to repay outstanding amounts under our Credit Agreement, repay and terminate our 2020 Term Loan Facility, and to redeem all outstanding 6.375% Senior Notes due 2026. Proceeds from future borrowings under the 2022 Revolving Credit Facility are expected to be used for working capital and general corporate purposes. Following June 7, 2022, and prior to June 30, 2022, we repaid $38.8 million of the amount drawn under the 2022 Revolving Credit Facility. The 2022 Term Loan Facility matures June 7, 2029 and the 2022 Revolving Credit Facility matures June 7, 2027. The 2022 Term Loan Facility is subject to mandatory amortization payments of 1% per annum of the initial commitment paid quarterly, which begins on December 30, 2022. The Senior Secured Credit Facility contains customary representations and warranties, covenants, and events of default for loan facilities of this type. We were in compliance with all covenants as of June 30, 2022. At the Company’s election, outstanding borrowings under the Senior Secured Credit Facility will accrue interest at a per annum rate of (i) an adjusted SOFR rate plus the applicable spread or (ii) a base rate plus the applicable spread. On June 29, 2022, the Company executed a five-year floating-to-fixed interest rate swap to hedge our exposure to increases in variable interest rates on the 2022 Term Loan Facility. This interest rate swap agreement is based on a $300 million notional amount for the first three years, reducing to $150 million for years four and five. See Note 13—Derivatives and Hedging Transactions for additional information on interest rate swaps. In connection with the Restated Credit Agreement noted above, we completed the redemption of all of the Company’s remaining 6.375% Senior Notes (the “Notes”) at 103.188% of the principal amount thereof. We repurchased $92.0 million in aggregate principal amount of the Notes for $95.6 million in cash, including $0.6 million in accrued interest. In connection with these redemptions, we recognized a net loss of approximately $3.9 million for the three and six months ended June 30, 2022, inclusive of the write off of the remaining unamortized debt financing costs related to the Notes, which is included in other expense, net in our condensed consolidated statements of income (loss).

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Guarantees and Indemnifications We have provided indemnities in connection with sales of certain businesses and assets, including indemnities for environmental health and safety, tax, and employment matters. We do not have any material liabilities recorded for these indemnifications and are not aware of any claims or other information that would give rise to material payments under such indemnities. In connection with the Company’s separation from Dover Corporation (“Dover”) in 2018, we entered into agreements with Dover that govern the treatment between Dover and us for certain indemnification matters and litigation responsibility. Generally, the separation and distribution agreement provides for cross-indemnities principally designed to place financial responsibility for the obligations and liabilities of our business with us and to place financial responsibility for the obligations and liabilities of Dover’s business with Dover. The separation and distribution agreement also establishes procedures for handling claims subject to indemnification and related matters. In connection with the acquisition of the Chemical Technologies business from Ecolab in 2020 (the “Merger”), we entered into agreements with Ecolab that govern the treatment between Ecolab and us for certain indemnification matters and litigation responsibility. Generally, the separation and distribution agreement provides for cross-indemnities principally designed to place financial responsibility for the obligations and liabilities of our business with us and to place financial responsibility for the obligations and liabilities of Ecolab’s business with Ecolab. The separation and distribution agreement also establishes procedures for handling claims subject to indemnification and related matters. In addition, pursuant to the tax matters agreement relating to the Merger (the “Tax Matters Agreement”), we have agreed to indemnify Ecolab and its affiliates for (i) all taxes for which ChampionX is responsible as defined within the Tax Matters Agreement, (ii) all taxes resulting from a breach by ChampionX of any of its representations (but only to the extent relating to a breach occurring after the consummation of the Merger) or any of its covenants under the Tax Matters Agreement, (iii) all taxes resulting from an acquisition after the Merger of any of the stock or assets of ChampionX, other than as a result of the Merger or a repayment of the 2018 Credit Facility (as defined in “Note 8–Debt” to our consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021), 2018 Term Loan Facility or 2020 Term Loan Facility and (iv) reasonable costs and expenses (including reasonable attorneys’ fees and expenses) related to the foregoing. As of June 30, 2022 and December 31, 2021, we had $56.2 million and $80.2 million, respectively, of outstanding letters of credit, surety bonds and guarantees, which expire at various dates through 2039. These financial instruments are primarily maintained as security for insurance, warranty, and other performance obligations. Generally, we would only be liable for the amount of these letters of credit, surety bonds, and guarantees in the event of default in the performance of our obligations, the probability of which we believe is remote. Litigation and Environmental Matters The Company is party to various proceedings and claims incidental to its business, including matters arising under provisions relating to the protection of the environment. We review the probable outcome of such proceedings, the costs and expenses reasonably expected to be incurred and accrued to date, and the availability and extent of insurance coverage. We accrue a liability for legal matters that are probable and can be reasonably estimated. If the reasonable estimate of a probable loss is a range, the Company records the most probable estimate of the loss or the minimum amount when no amount within the range is a better estimate than any other amount. While many of these matters involve inherent uncertainty, we believe that the amount of the liability, if any, ultimately incurred with respect to these proceedings and claims will not have a material adverse effect on our consolidated financial position, results of operations or cash flows. Environmental Matters The Company is currently participating in environmental assessments and remediation at approximately 11 locations, the majority of which are in the United States (“U.S.”), and environmental liabilities have been accrued reflecting our best estimate of future costs. Potential insurance reimbursements are not anticipated in the Company’s accruals for environmental liabilities. As of June 30, 2022, environmental liability accruals related to these locations were $6.9 million. Prior to the separation from Dover in 2018, groundwater contamination was discovered at the Norris Sucker Rods plant site located in Tulsa, Oklahoma (“Norris”). Initial remedial efforts were undertaken at the time of discovery of the contamination and Norris has since coordinated monitoring and remediation with the Oklahoma Department of Environmental Quality (“ODEQ”). As part of the ongoing long-term remediation process, Norris contracted an engineering and consulting firm to develop a range of possible additional remedial alternatives in order to accelerate the remediation process and associated cost estimates for the work. In October 2019, we received the firm’s preliminary remedial alternatives for consideration. We have submitted our long-term remediation plan and it was approved by ODEQ. We are now in discussion with ODEQ to finalize a consent order. Because we have not yet finalized the consent order for further remediation at the site and discussions with ODEQ remain ongoing, we cannot fully anticipate the timing, outcome or possible impact of such further remedial activities, financial or otherwise. As a result of the recommendations in the report, we accrued liabilities for these remediation efforts of approximately $2.0 million as of December 31, 2019. Liabilities could increase in the future at such time as we ultimately reach agreement with ODEQ on our remediation plan and such liabilities become probable and can be reasonably estimated; however, there have been no changes to our estimated liability as of June 30, 2022. Matters Related to Deepwater Horizon Incident Response On April 22, 2010, the deepwater drilling platform, the Deepwater Horizon, operated by a subsidiary of BP plc, sank in the Gulf of Mexico after an explosion and fire, resulting in a massive oil spill. Certain entities that are now subsidiaries of ChampionX as a result of the Merger (collectively the “COREXIT Defendants”) supplied COREXIT™ 9500, an oil dispersant product listed on the U.S. EPA National Contingency Plan Product Schedule, which was used in the response to the spill. In connection with the provision of COREXIT™, the COREXIT Defendants were named in several lawsuits. Cases arising out of the Deepwater Horizon accident were administratively transferred and consolidated for pre-trial purposes under In Re: Oil Spill by the Oil Rig “Deepwater Horizon” in the Gulf of Mexico, on April 20, 2010, Case No. 10-md-02179 in the United States District Court in the Eastern District of Louisiana (E.D. La.) (“MDL 2179”). Claims related to the response to the oil spill were consolidated in a master complaint captioned the “B3 Master Complaint.” In 2011, Transocean Deepwater Drilling, Inc. and its affiliates (the “Transocean Entities”) named the COREXIT Defendants and other unaffiliated companies as first party defendants (In re the Complaint and Petition of Triton Asset Leasing GmbH, et al, MDL No. 2179, Civil Action 10-2771). In April and May 2011, the Transocean Entities, Cameron International Corporation, Halliburton Energy Services, Inc., M-I L.L.C., Weatherford U.S., L.P. and Weatherford International, Inc. (collectively, the “Cross Claimants”) filed cross claims in MDL 2179 against the COREXIT Defendants and other unaffiliated cross defendants. In April and June 2011, in support of its defense of the claims against it, the COREXIT Defendants filed counterclaims against the Cross Claimants. On May 18, 2012, the COREXIT Defendants filed a motion for summary judgment as to the claims in the B3 Master Complaint. On November 28, 2012, the Court granted the COREXIT Defendants’ motion and dismissed with prejudice the claims in the B3 Master Complaint asserted against the COREXIT Defendants. There currently remain three “B3” cases that had asserted claims against the COREXIT Defendants and that remain pending against other defendants. Because the Court’s decision was not a “final judgment” for purposes of appeal with respect to those claims, under Federal Rule of Appellate Procedure 4(a), plaintiffs will have 30 days after entry of final judgment in each case to appeal the Court’s summary judgment decision. The Company believes the claims asserted against the COREXIT Defendants are without merit and intends to defend these lawsuits vigorously. The Company also believes that it has rights to contribution and/or indemnification (including legal expenses) from third parties. However, we cannot predict the outcome of these lawsuits, the involvement it might have in these matters in the future, or the potential for future litigation.

Restructuring and Other Related

Restructuring and Other Related Charges	6 Months Ended
	Jun. 30, 2022
Restructuring and Related Activities [Abstract]
Restructuring and Other Related Charges	RESTRUCTURING AND OTHER RELATED CHARGES We approved various restructuring plans related to the consolidation of product lines and associated facility closures and workforce reductions during the current and prior periods. During the second quarter of 2022, the restructuring plans included the exit of one of our product lines within the Reservoir Chemical Technologies segment. The exit of this product line is expected to be completed during the third quarter of 2022 and as such, we anticipate additional restructuring charges related to the closure of facilities and certain contract termination costs when we cease using the rights conveyed by the contract. We recognized charges of $6.6 million and $15.1 million during the three and six months ended June 30, 2022, respectively, consisting primarily of employee severance and related benefits, disposals of equipment and office closures, partially offset by gains realized on the sale of facilities. During the three and six months ended June 30, 2021, we recorded restructuring and other charges of $3.8 million and $8.0 million, respectively. The following table presents the restructuring and other related charges by segment as classified in our condensed consolidated statements of income. Three Months Ended June 30, Six Months Ended (in thousands) 2022 2021 2022 2021 Segment restructuring charges (income): Production Chemical Technologies $ 336 $ 3,103 $ 11,972 $ 3,791 Production & Automation Technologies 125 432 (4,022) 3,956 Drilling Technologies — — — — Reservoir Chemical Technologies 5,358 198 6,101 242 Corporate and other 801 42 1,053 42 Total $ 6,620 $ 3,775 $ 15,104 $ 8,031 Statements of Income classification: Cost of goods and services $ 5,147 $ 422 $ 1,008 $ 3,906 Selling, general and administrative expense 1,473 3,353 14,096 4,125 Total $ 6,620 $ 3,775 $ 15,104 $ 8,031 Our liability balance for restructuring and other related charges at June 30, 2022 reflects employee severance and related benefits initiated during the period. Additional programs may be initiated during 2022 with related restructuring charges. The following table details our restructuring accrual activities during the six months ended June 30, 2022: (in thousands) Restructuring Accrual Balance December 31, 2021 $ 3,743 Restructuring charges 15,104 Asset sales 131 Payments (10,590) Other, including foreign currency translation (99) June 30, 2022 $ 8,289

Equity and Cash Incentive Progr

Equity and Cash Incentive Programs	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Equity and Cash Incentive Programs	EQUITY AND CASH INCENTIVE PROGRAMS Stock-based compensation expense is reported within selling, general and administrative expense in the condensed consolidated statements of income. Stock-based compensation expense relating to all stock-based incentive plans was as follows: Three Months Ended June 30, Six Months Ended (in thousands) 2022 2021 2022 2021 Stock-based compensation expense $ 5,071 $ 5,914 $ 9,799 $ 12,356 Tax benefit (1,065) (1,242) (2,058) (2,595) Stock-based compensation expense, net of tax $ 4,006 $ 4,672 $ 7,741 $ 9,761 A summary of activity relating to our share-based awards for the six months ended June 30, 2022 was as follows: (in shares) Stock-Settled Appreciation Rights Performance Share Awards Restricted Stock Units Non-Qualified Stock Options Outstanding at January 1, 2022 393,523 505,509 2,342,107 5,488,653 Granted — 347,920 932,588 — Forfeited / expired (1,758) — (159,365) (2,859) Exercised / vested — (72,410) (437,275) (499,562) Outstanding at June 30, 2022 391,765 781,019 2,678,055 4,986,232

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Stockholders' Equity	STOCKHOLDERS' EQUITY Dividends On February 4, 2022, our Board of Directors (“Board”) approved a plan to initiate a regular quarterly cash dividend of $0.075 per share of the Company’s common stock. The first dividend was paid on April 29, 2022 to stockholders of record on April 8, 2022. An additional cash dividend of $0.075 per share was declared on May 12, 2022, payable on July 29, 2022 to stockholders of record on July 1, 2022. As a result, we recorded a dividend payable of $15.3 million on our condensed consolidated balance sheet as of June 30, 2022. Subsequent dividend declarations, if any, including the amounts and timing of future dividends, are subject to approval by the Board and will depend on future business conditions, financial conditions, results of operations and other factors. Repurchases On March 7, 2022, the Company announced that our Board authorized the Company to repurchase up to $250 million of its common stock. This program has no time limit and does not obligate the Company to acquire any particular amount of shares of its common stock. During the three and six months ended June 30, 2022, we repurchased and cancelled 789,516 shares of common stock at an average price of $25.33 per share for a total of $20.0 million. Accumulated other comprehensive loss Accumulated other comprehensive loss —Accumulated other comprehensive loss consisted of the following: (in thousands) Foreign Currency Translation Defined Pension and Other Post-Retirement Benefits Cash Flow Hedges Accumulated Other Comprehensive Loss December 31, 2021 $ (19,430) $ (3,476) $ 1,281 $ (21,625) Other comprehensive loss before reclassifications, net of tax (1,565) — (1,299) (2,864) Reclassification adjustment for net losses included in net income, net of tax — 69 — 69 Other comprehensive loss, net of tax (1,565) 69 (1,299) (2,795) March 31, 2022 $ (20,995) $ (3,407) $ (18) $ (24,420) Other comprehensive income before reclassifications, net of tax 21,169 — (3,403) 17,766 Reclassification adjustment for net losses included in net income, net of tax — 70 — 70 Other comprehensive income, net of tax 21,169 70 (3,403) 17,836 June 30, 2022 $ 174 $ (3,337) $ (3,421) $ (6,584) (in thousands) Foreign Currency Translation Defined Pension and Other Post-Retirement Benefits Cash Flow Hedges Accumulated Other Comprehensive Loss December 31, 2020 $ (14,965) $ (13,470) $ (2,320) $ (30,755) Other comprehensive income before reclassifications, net of tax 3,213 — 413 3,626 Reclassification adjustment for net losses included in net income, net of tax — 167 — 167 Other comprehensive income, net of tax 3,213 167 413 3,793 March 31, 2021 $ (11,752) $ (13,303) $ (1,907) $ (26,962) Other comprehensive income (loss) before reclassifications, net of tax 8,332 — (277) 8,055 Reclassification adjustment for net losses included in net income, net of tax — 6,373 — 6,373 Other comprehensive income (loss), net of tax 8,332 6,373 (277) 14,428 June 30, 2021 $ (3,420) $ (6,930) $ (2,184) $ (12,534) Reclassifications from accumulated other comprehensive loss —Reclassification adjustments from accumulated other comprehensive loss to net income (loss) related to defined pension and other post-retirement benefits consisted of the following: Three Months Ended June 30, Six Months Ended June 30, Affected line items on the condensed consolidated statements of income (loss) (in thousands) 2022 2021 2022 2021 Pensions and other post-retirement benefits: Amortization of actuarial loss and other $ 70 $ 6,326 $ 139 $ 6,540 Other (income) expense, net Total before tax 70 6,326 139 6,540 Income before income taxes Tax benefit — 47 — — Provision for (benefit from) income taxes Net of tax $ 70 $ 6,373 $ 139 $ 6,540 Net income

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE A reconciliation of the number of shares used for the basic and diluted earnings per share calculation was as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share data) 2022 2021 2022 2021 Net income attributable to ChampionX $ 27,342 $ 7,250 $ 64,044 $ 13,022 Weighted-average number of shares outstanding 203,322 201,467 203,200 201,063 Dilutive effect of stock-based compensation 5,392 7,074 5,663 6,876 Total shares and dilutive securities 208,714 208,541 208,863 207,939 Basic earnings per share attributable to ChampionX $ 0.13 $ 0.04 $ 0.32 $ 0.06 Diluted earnings per share attributable to ChampionX $ 0.13 $ 0.03 $ 0.31 $ 0.06 For all periods presented, the computation of diluted earnings per share excludes awards with an anti-dilutive impact. For the three and six months ended June 30, 2022, the diluted shares include the dilutive impact of equity awards except for approximately 0.4 million and 0.4 million shares, respectively, that were excluded because their inclusion would be anti-dilutive. For the three and six months ended June 30, 2021, the diluted shares include the dilutive impact of equity awards

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Divestitures	ACQUISITIONS AND DIVESTITURES Acquisitions On February 23, 2022, we acquired LSI, a leader in optical gas imaging technology that provides aerial and ground-based emissions leak detection to the oil and gas industry. LSI has been included in our Production & Automation Technologies segment. Under the terms of the agreement, we paid an initial amount of $3.2 million, net of cash acquired, with an additional $0.5 million payable on the first anniversary of the closing date. We may also be required to make future payments of up to an additional $2.5 million, contingent on the future performance of the business. As part of our purchase price allocation, we recorded goodwill of $6.3 million. The pro forma effect of this acquisition on revenue and net income has been determined to be immaterial to our financial statements. Divestitures Given the continued economic pressure and sanctions imposed by the United States, European Union, and United Kingdom, we have initiated a plan to dispose of our operations in Russia (the “CT Russia Business”), which is included in our Production Chemical Technologies segment. As a result, the CT Russia Business met the criteria to be classified as held for sale as of June 30, 2022, which requires us to present the related assets and liabilities as separate line items in our condensed consolidated balance sheet. We recorded a charge of $22.9 million for the three and six months ended June 30, 2022, in order to properly reflect the carrying value of the disposal group at the lower of its carrying value or fair value less any costs to sell. We assess the fair value of a long-lived asset or disposal group (less any costs to sell) each reporting period that it remains classified as held for sale and report any subsequent changes as an adjustment to the carrying value of the asset or disposal group, as long as the new carrying value does not exceed the carrying value of the asset at the time it was initially classified as held for sale. Upon the ultimate disposition, we will recognize the cumulative translation adjustment balance associated with the CT Russia Business in our condensed consolidated statement of income as part of the gain or loss on the sale. The following table presents information related to the major classes of assets and liabilities that were held for sale in our condensed consolidated balance sheet: (in thousands) Receivables $ 9,708 Inventory 10,830 Prepaid expenses and other current assets 3,670 Property, plant, and equipment 5,455 Goodwill 3,339 Intangible assets 7,803 Operating lease right-of-use assets 2,419 Loss on disposal group (22,924) Total assets held for sale $ 20,300 Accounts payable $ 2,840 Other current liabilities 3,719 Other noncurrent liabilities 3,869 Total liabilities held for sale $ 10,428

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Fair value is defined as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. A hierarchy has been established for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring the most observable inputs be used when available. The hierarchy is broken down into three levels: Level 1 - Inputs are quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities. Level 2 - Inputs include observable inputs other than quoted prices in active markets. Level 3 - Inputs are unobservable inputs for which there is little or no market data available. The carrying amount and the estimated fair value for assets and liabilities measured on a recurring basis are as follows: Carrying Amount (in thousands) Measurement Level June 30, 2022 December 31, 2021 Assets Foreign currency forward contracts Level 2 $ 3,423 $ 4,081 Interest rate swaps Level 2 392 — Total $ 3,815 $ 4,081 Liabilities Foreign currency forward contracts Level 2 $ 3,445 $ 3,773 Interest rate swaps Level 2 4,390 — Total $ 7,835 $ 3,773 For purposes of fair value disclosure above, derivative values are presented gross. See Note 13—Derivatives and Hedging Transactions for further discussion of gross versus net presentation of the Company’s derivatives. The carrying amounts of cash and cash equivalents, trade receivables, accounts payable, as well as amounts included in other current assets and other current liabilities that meet the definition of financial instruments, approximate fair value due to their short-term nature. The carrying amount and the estimated fair value of long-term debt, including current maturities, held by the Company were: June 30, 2022 December 31, 2021 (in thousands) Carrying Amount Fair Value Carrying Amount Fair Value 2022 Revolving Credit Facility $ 96,200 $ 96,200 $ — $ — 2018 Term Loan Facility $ — $ — $ 140,000 $ 138,950 2020 Term Loan Facility $ — $ — $ 496,725 $ 502,313 2022 Term Loan Facility $ 625,000 $ 607,031 $ — $ — 6.375% Senior Notes due 2026 $ — $ — $ 92,041 $ 95,805

Derivatives and Hedging Transac

Derivatives and Hedging Transactions	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Transactions	DERIVATIVES AND HEDGING TRANSACTIONS The Company uses foreign currency forward contracts to manage risks associated with foreign currency exchange rates. The Company also utilizes floating-to-fixed interest rate swap agreements as cash flow hedges on certain debt, to mitigate interest rate risk. The Company does not hold derivative financial instruments of a speculative nature or for trading purposes. Derivative contracts are recorded as assets and liabilities on the balance sheet at fair value. We evaluated the interest rate swap hedge effectiveness and determined it to be perfectly effective. We evaluate foreign currency forward contracts hedge effectiveness at contract inception and thereafter on a quarterly basis. If a derivative is no longer expected to be effective, hedge accounting is discontinued. Changes in fair value are recognized immediately in earnings unless the derivative qualifies and is designated as a hedge. Changes in fair value attributable to changes in spot exchange rates for derivative contracts that have been designated as cash flow hedges are recognized in accumulated other comprehensive income (loss) (“AOCI”) and reclassified into earnings in the same period the hedged transaction affects earnings and are presented in the same income statement line as the earnings effect of the hedged item. The Company accounts for the interest rate swap agreements as a cash flow hedge, thus the effective portion of gains and losses resulting from changes in fair value are recognized in AOCI and are amortized to interest expense over the term of the respective debt. Cash flows from derivatives are classified in the statement of cash flows in the same category as the cash flows from the items subject to designated hedge or undesignated (economic) hedge relationships. The Company is exposed to credit risk in the event of nonperformance of counterparties for foreign currency forward exchange contracts and interest rate swaps. We monitor our exposure to credit risk by using major global banks and financial institutions as counterparties and monitoring their financial condition and credit profile. The Company does not anticipate nonperformance by any of these counterparties, and therefore, recording a valuation allowance against the Company’s derivative balance is not considered necessary. Derivative Positions Summary Certain of the Company’s derivative transactions are subject to master netting arrangements that allow the Company to settle with the same counterparties. These arrangements generally do not call for collateral and as of the applicable dates presented in the following table, no cash collateral had been received or pledged related to the underlying derivatives. We have elected to present our derivative balances on a gross basis on the condensed consolidated balance sheet. The following table summarizes the gross fair value of the Company’s outstanding derivatives and the lines in which they are presented on the condensed consolidated balance sheet. Derivative Assets Derivative Liabilities (in thousands) June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 Prepaid expenses and other current assets $ 3,815 $ 4,081 $ — $ — Accrued expenses and other current liabilities — — 4,300 3,773 Other long-term liabilities — — 3,535 — $ 3,815 $ 4,081 $ 7,835 $ 3,773 The following table summarizes the notional values of the Company’s outstanding derivatives: (in thousands) June 30, 2022 December 31, 2021 Notional value of foreign currency forward contracts and interest rate swaps $ 912,688 $ 704,190 Cash Flow Hedges The Company utilizes foreign currency forward contracts to hedge the effect of foreign currency exchange rate fluctuations on forecasted foreign currency transactions, primarily related to inventory purchases. These forward contracts are designated as cash flow hedges. The changes in fair value of these contracts attributable to changes in spot exchange rates are recorded in AOCI until the hedged items affect earnings, at which time the gain or loss is reclassified into the same line item in the condensed consolidated statements of income (loss) as the underlying exposure being hedged. The forward points are marked-to-market monthly and recognized in the same line item in the condensed consolidated statements of income (loss) as the underlying exposure being hedged. Under interest rate swaps, we agree with other parties to exchange, at specified intervals, the difference between fixed-rate and floating-rate interest amounts calculated by reference to an agreed notional principal amount. We pay a floating rate and receive a fixed rate under these agreements. Any unrealized gain or loss at the time of settlement will be reclassified and reduce net interest expense as we record interest expense on the associated debt. Derivatives Not Designated as Hedging Instruments The Company also uses foreign currency forward contracts to offset its exposure to the change in value of certain foreign currency denominated assets and liabilities, primarily receivables and payables, which are remeasured at the end of each period. Although the contracts are effective economic hedges, they are not designated as accounting hedges. Therefore, changes in the value of these derivatives are recognized immediately in earnings, thereby offsetting the current earnings effect of the related foreign currency denominated assets and liabilities. Effect of Derivative Instruments on Income The loss of all derivative instruments recognized is summarized below: Three Months Ended Six Months Ended (in thousands) 2022 2021 2022 2021 Loss reclassified from AOCI to income on cash flow hedges: Cost of goods and services $ (118) $ 1,018 $ (47) $ 1,772 Loss on derivatives not designated as hedging instruments: Other (income) expense, net 1,251 795 5,411 1,462 Total loss of derivative instruments $ 1,133 $ 1,813 $ 5,364 $ 3,234

Inventories

Inventories	6 Months Ended
	Jun. 30, 2022
Inventory, Net [Abstract]
Inventories	INVENTORIES Inventories consisted of the following: (in thousands) June 30, 2022 December 31, 2021 Raw materials $ 224,508 $ 186,516 Work in progress 20,803 13,615 Finished goods 485,089 421,702 730,400 621,833 Inventory reserve (27,545) (24,646) LIFO adjustments (1) (95,899) (54,277) Inventories, net $ 606,956 $ 542,910 _______________________ (1) Represents the amount by which the current cost of LIFO inventories exceeded their carrying value.

Cash Flow Information

Cash Flow Information	6 Months Ended
	Jun. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Cash Flow Information	CASH FLOW INFORMATION Leased Asset Program Our electrical submersible pumping (“ESP”) leased asset program is reported in our Production & Automation Technologies segment. At the time of purchase, assets are recorded to inventory and are transferred to property, plant, and equipment when a customer contracts for an asset under our leased asset program. During the six months ended June 30, 2022 and June 30, 2021, we transferred $34.7 million and $20.3 million, respectively, of inventory into property, plant, and equipment as a result of assets entering our leased asset program.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements of ChampionX have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) pertaining to interim financial information. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP have been condensed or omitted. Therefore, these financial statements should be read in conjunction with the audited consolidated financial statements, and notes thereto, which are included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021. The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Although these estimates are based on management’s best knowledge of current events and actions that we may undertake in the future, actual results may differ from our estimates. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments (consisting of normal recurring adjustments unless otherwise specified) necessary for a fair statement of our financial condition and results of operations as of and for the periods presented. Revenue, expenses, assets and liabilities can vary during each quarter of the year. Therefore, the results and trends in these financial statements may not be representative of the results that may be expected for the year ending December 31, 2022.
New Accounting Standards	New Accounting Standards All new accounting pronouncements that have been issued but not yet effective are currently being evaluated and at this time are not expected to have a material impact on our financial position or results of operations.
Fair Value Measurements	Fair value is defined as the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. A hierarchy has been established for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring the most observable inputs be used when available. The hierarchy is broken down into three levels: Level 1 - Inputs are quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities. Level 2 - Inputs include observable inputs other than quoted prices in active markets. Level 3 - Inputs are unobservable inputs for which there is little or no market data available.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Revenue and Operating Profit	Segment revenue and segment operating profit Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2022 2021 2022 2021 Segment revenue: Production Chemical Technologies $ 552,411 $ 447,049 $ 1,067,383 $ 859,420 Production & Automation Technologies 242,399 188,173 462,748 355,018 Drilling Technologies 57,858 37,589 114,717 72,583 Reservoir Chemical Technologies 44,114 33,222 84,014 63,113 Corporate and other (1) 35,790 43,139 69,670 83,926 Total revenue $ 932,572 $ 749,172 $ 1,798,532 $ 1,434,060 Segment operating profit (loss): Production Chemical Technologies $ 25,606 $ 33,871 $ 56,869 $ 64,228 Production & Automation Technologies 23,650 12,292 48,360 17,654 Drilling Technologies 15,043 3,868 30,263 10,254 Reservoir Chemical Technologies (8,147) (2,594) (11,616) (5,822) Total segment operating profit 56,152 47,437 123,876 86,314 Corporate and other (1) 17,896 22,024 29,690 40,111 Interest expense, net 10,765 14,064 22,128 28,035 Income before income taxes $ 27,491 $ 11,349 $ 72,058 $ 18,168 _______________________

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Revenue disaggregated by geography was as follows: Three Months Ended June 30, 2022 (in thousands) Production Chemical Technologies Production & Automation Technologies Drilling Technologies Reservoir Chemical Technologies Corporate and other (1) Total United States $ 205,457 $ 187,982 $ 45,848 $ 31,038 $ 20,039 $ 490,364 Latin America 124,540 6,358 — 3,221 905 135,024 Middle East & Africa 76,028 19,062 1,220 5,561 287 102,158 Canada 72,581 17,484 3,477 633 37 94,212 Europe 45,889 3,384 5,156 968 3,297 58,694 Asia-Pacific 9,518 784 2,142 909 11,225 24,578 Australia 4,960 7,308 15 91 — 12,374 Other 13,438 37 — 1,693 — 15,168 Total revenue $ 552,411 $ 242,399 $ 57,858 $ 44,114 $ 35,790 $ 932,572 Three Months Ended June 30, 2021 (in thousands) Production Chemical Technologies Production & Automation Technologies Drilling Technologies Reservoir Chemical Technologies Corporate and other (1) Total United States $ 156,852 $ 141,799 $ 30,392 $ 19,589 $ 30,225 $ 378,857 Latin America 93,389 4,530 — 3,587 1,261 102,767 Middle East & Africa 66,213 13,358 1,446 6,534 1,945 89,496 Canada 63,639 14,754 1,986 377 124 80,880 Europe 41,046 1,790 2,278 1,101 3,690 49,905 Asia-Pacific 10,562 2,743 853 1,393 5,894 21,445 Australia 5,994 9,182 13 30 — 15,219 Other 9,354 17 621 611 — 10,603 Total revenue $ 447,049 $ 188,173 $ 37,589 $ 33,222 $ 43,139 $ 749,172 Six Months Ended June 30, 2022 (in thousands) Production Chemical Technologies Production & Automation Technologies Drilling Technologies Reservoir Chemical Technologies Corporate and other (1) Total United States $ 396,363 $ 355,784 $ 92,667 $ 56,259 $ 41,893 $ 942,966 Latin America 224,145 11,361 — 6,811 1,630 243,947 Middle East & Africa 150,072 35,773 2,909 13,282 601 202,637 Canada 148,380 36,936 6,418 1,111 63 192,908 Europe 94,910 5,729 8,866 1,871 6,768 118,144 Asia-Pacific 18,001 2,455 3,817 1,954 18,715 44,942 Australia 10,803 14,583 15 199 — 25,600 Other 24,709 127 25 2,527 — 27,388 Total revenue $ 1,067,383 $ 462,748 $ 114,717 $ 84,014 $ 69,670 $ 1,798,532 Six Months Ended June 30, 2021 (in thousands) Production Chemical Technologies Production & Automation Technologies Drilling Technologies Reservoir Chemical Technologies Corporate and other (1) Total United States $ 306,716 $ 267,712 $ 55,799 $ 35,198 $ 56,242 $ 721,667 Latin America 165,005 9,172 — 6,606 2,692 183,475 Middle East & Africa 124,583 24,091 2,162 12,596 7,067 170,499 Canada 124,931 27,282 5,813 1,106 282 159,414 Europe 83,654 3,773 4,777 2,490 5,947 100,641 Asia-Pacific 21,054 4,206 2,406 2,513 11,696 41,875 Australia 12,389 18,758 130 84 — 31,361 Other 21,088 24 1,496 2,520 — 25,128 Total revenue $ 859,420 $ 355,018 $ 72,583 $ 63,113 $ 83,926 $ 1,434,060 ______________________
Schedule of Contract Balances	The beginning and ending contract asset and contract liability balances from contracts with customers were as follows: (in thousands) June 30, 2022 December 31, 2021 Contract assets $ — $ — Contract liabilities - current $ 16,700 $ 15,246

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	6 Months Ended
	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The components of our definite- and indefinite-lived intangible assets were as follows: June 30, 2022 December 31, 2021 (in thousands) Gross Accumulated Net Gross Accumulated Net Definite-lived Customer relationships $ 585,450 $ 386,613 $ 198,837 $ 593,242 $ 365,773 $ 227,469 Unpatented technologies 142,760 46,815 95,945 142,540 37,264 105,276 Favorable supply agreements 59,000 40,164 18,836 59,000 30,546 28,454 Trademarks 59,869 34,163 25,706 59,873 32,270 27,603 Patents 38,577 31,417 7,160 38,735 31,080 7,655 Other 5,357 5,267 90 5,390 5,177 213 891,013 544,439 346,574 898,780 502,110 396,670 Indefinite-lived Trademarks 3,600 — 3,600 3,600 — 3,600 In-process research and development 1,200 — 1,200 1,200 — 1,200 4,800 — 4,800 4,800 — 4,800 Total $ 895,813 $ 544,439 $ 351,374 $ 903,580 $ 502,110 $ 401,470
Schedule of Indefinite-Lived Intangible Assets	The components of our definite- and indefinite-lived intangible assets were as follows: June 30, 2022 December 31, 2021 (in thousands) Gross Accumulated Net Gross Accumulated Net Definite-lived Customer relationships $ 585,450 $ 386,613 $ 198,837 $ 593,242 $ 365,773 $ 227,469 Unpatented technologies 142,760 46,815 95,945 142,540 37,264 105,276 Favorable supply agreements 59,000 40,164 18,836 59,000 30,546 28,454 Trademarks 59,869 34,163 25,706 59,873 32,270 27,603 Patents 38,577 31,417 7,160 38,735 31,080 7,655 Other 5,357 5,267 90 5,390 5,177 213 891,013 544,439 346,574 898,780 502,110 396,670 Indefinite-lived Trademarks 3,600 — 3,600 3,600 — 3,600 In-process research and development 1,200 — 1,200 1,200 — 1,200 4,800 — 4,800 4,800 — 4,800 Total $ 895,813 $ 544,439 $ 351,374 $ 903,580 $ 502,110 $ 401,470
Schedule of Goodwill	The carrying amount of goodwill, including changes therein, by reportable segment is below: (in thousands) Production Chemical Technologies Production & Automation Technologies Drilling Technologies Reservoir Chemical Technologies Total December 31, 2021 $ 356,638 $ 205,467 $ 101,136 $ 39,626 $ 702,867 Acquisition (1) — 6,345 — — 6,345 Allocated to disposal group (2) (3,339) — — — (3,339) Foreign currency translation 17,146 (156) — 1,535 18,525 June 30, 2022 $ 370,445 $ 211,656 $ 101,136 $ 41,161 $ 724,398 _______________________ (1) See Note 11—Acquisitions and Divestitures for additional information related to the acquisition of LSI completed during the first quarter of 2022. (2) See Note 11—Acquisitions and Divestitures for additional information on the reclassification of assets and liabilities held for sale as part of the planned divestiture of our operations in Russia.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt consisted of the following: (in thousands) June 30, 2022 December 31, 2021 2022 Revolving Credit Facility $ 96,200 $ — 2018 Term Loan Facility — 140,000 2020 Term Loan Facility — 496,725 2022 Term Loan Facility 625,000 — 6.375% Senior Notes due 2026 — 92,041 Total 721,200 728,766 Net unamortized discounts and issuance costs (22,082) (4,259) Total long-term debt 699,118 724,507 Current portion of long-term debt (1) (4,688) (26,850) Long-term debt, less current portion $ 694,430 $ 697,657 _______________________ (1) Represents the mandatory amortization payments due within twelve months related to the 2022 Term Loan Facility as of June 30, 2022 and 2020 Term Loan Facility as of December 31, 2021.

Restructuring and Other Relat_2

Restructuring and Other Related Charges (Tables)	6 Months Ended
	Jun. 30, 2022
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs	The following table presents the restructuring and other related charges by segment as classified in our condensed consolidated statements of income. Three Months Ended June 30, Six Months Ended (in thousands) 2022 2021 2022 2021 Segment restructuring charges (income): Production Chemical Technologies $ 336 $ 3,103 $ 11,972 $ 3,791 Production & Automation Technologies 125 432 (4,022) 3,956 Drilling Technologies — — — — Reservoir Chemical Technologies 5,358 198 6,101 242 Corporate and other 801 42 1,053 42 Total $ 6,620 $ 3,775 $ 15,104 $ 8,031 Statements of Income classification: Cost of goods and services $ 5,147 $ 422 $ 1,008 $ 3,906 Selling, general and administrative expense 1,473 3,353 14,096 4,125 Total $ 6,620 $ 3,775 $ 15,104 $ 8,031 The following table details our restructuring accrual activities during the six months ended June 30, 2022: (in thousands) Restructuring Accrual Balance December 31, 2021 $ 3,743 Restructuring charges 15,104 Asset sales 131 Payments (10,590) Other, including foreign currency translation (99) June 30, 2022 $ 8,289

Equity and Cash Incentive Pro_2

Equity and Cash Incentive Programs (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Schedule of Stock-Based Compensation Expense	Stock-based compensation expense relating to all stock-based incentive plans was as follows: Three Months Ended June 30, Six Months Ended (in thousands) 2022 2021 2022 2021 Stock-based compensation expense $ 5,071 $ 5,914 $ 9,799 $ 12,356 Tax benefit (1,065) (1,242) (2,058) (2,595) Stock-based compensation expense, net of tax $ 4,006 $ 4,672 $ 7,741 $ 9,761
Summary of Activity Related to Share-Based Awards	A summary of activity relating to our share-based awards for the six months ended June 30, 2022 was as follows: (in shares) Stock-Settled Appreciation Rights Performance Share Awards Restricted Stock Units Non-Qualified Stock Options Outstanding at January 1, 2022 393,523 505,509 2,342,107 5,488,653 Granted — 347,920 932,588 — Forfeited / expired (1,758) — (159,365) (2,859) Exercised / vested — (72,410) (437,275) (499,562) Outstanding at June 30, 2022 391,765 781,019 2,678,055 4,986,232

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Loss	Accumulated other comprehensive loss consisted of the following: (in thousands) Foreign Currency Translation Defined Pension and Other Post-Retirement Benefits Cash Flow Hedges Accumulated Other Comprehensive Loss December 31, 2021 $ (19,430) $ (3,476) $ 1,281 $ (21,625) Other comprehensive loss before reclassifications, net of tax (1,565) — (1,299) (2,864) Reclassification adjustment for net losses included in net income, net of tax — 69 — 69 Other comprehensive loss, net of tax (1,565) 69 (1,299) (2,795) March 31, 2022 $ (20,995) $ (3,407) $ (18) $ (24,420) Other comprehensive income before reclassifications, net of tax 21,169 — (3,403) 17,766 Reclassification adjustment for net losses included in net income, net of tax — 70 — 70 Other comprehensive income, net of tax 21,169 70 (3,403) 17,836 June 30, 2022 $ 174 $ (3,337) $ (3,421) $ (6,584) (in thousands) Foreign Currency Translation Defined Pension and Other Post-Retirement Benefits Cash Flow Hedges Accumulated Other Comprehensive Loss December 31, 2020 $ (14,965) $ (13,470) $ (2,320) $ (30,755) Other comprehensive income before reclassifications, net of tax 3,213 — 413 3,626 Reclassification adjustment for net losses included in net income, net of tax — 167 — 167 Other comprehensive income, net of tax 3,213 167 413 3,793 March 31, 2021 $ (11,752) $ (13,303) $ (1,907) $ (26,962) Other comprehensive income (loss) before reclassifications, net of tax 8,332 — (277) 8,055 Reclassification adjustment for net losses included in net income, net of tax — 6,373 — 6,373 Other comprehensive income (loss), net of tax 8,332 6,373 (277) 14,428 June 30, 2021 $ (3,420) $ (6,930) $ (2,184) $ (12,534)
Schedule of Reclassifications from Accumulated Other Comprehensive Loss	Reclassification adjustments from accumulated other comprehensive loss to net income (loss) related to defined pension and other post-retirement benefits consisted of the following: Three Months Ended June 30, Six Months Ended June 30, Affected line items on the condensed consolidated statements of income (loss) (in thousands) 2022 2021 2022 2021 Pensions and other post-retirement benefits: Amortization of actuarial loss and other $ 70 $ 6,326 $ 139 $ 6,540 Other (income) expense, net Total before tax 70 6,326 139 6,540 Income before income taxes Tax benefit — 47 — — Provision for (benefit from) income taxes Net of tax $ 70 $ 6,373 $ 139 $ 6,540 Net income

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings per Share	A reconciliation of the number of shares used for the basic and diluted earnings per share calculation was as follows: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share data) 2022 2021 2022 2021 Net income attributable to ChampionX $ 27,342 $ 7,250 $ 64,044 $ 13,022 Weighted-average number of shares outstanding 203,322 201,467 203,200 201,063 Dilutive effect of stock-based compensation 5,392 7,074 5,663 6,876 Total shares and dilutive securities 208,714 208,541 208,863 207,939 Basic earnings per share attributable to ChampionX $ 0.13 $ 0.04 $ 0.32 $ 0.06 Diluted earnings per share attributable to ChampionX $ 0.13 $ 0.03 $ 0.31 $ 0.06

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Major Class of Assets and Liabilities Held For Sale	The following table presents information related to the major classes of assets and liabilities that were held for sale in our condensed consolidated balance sheet: (in thousands) Receivables $ 9,708 Inventory 10,830 Prepaid expenses and other current assets 3,670 Property, plant, and equipment 5,455 Goodwill 3,339 Intangible assets 7,803 Operating lease right-of-use assets 2,419 Loss on disposal group (22,924) Total assets held for sale $ 20,300 Accounts payable $ 2,840 Other current liabilities 3,719 Other noncurrent liabilities 3,869 Total liabilities held for sale $ 10,428

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured on Recurring Basis	The carrying amount and the estimated fair value for assets and liabilities measured on a recurring basis are as follows: Carrying Amount (in thousands) Measurement Level June 30, 2022 December 31, 2021 Assets Foreign currency forward contracts Level 2 $ 3,423 $ 4,081 Interest rate swaps Level 2 392 — Total $ 3,815 $ 4,081 Liabilities Foreign currency forward contracts Level 2 $ 3,445 $ 3,773 Interest rate swaps Level 2 4,390 — Total $ 7,835 $ 3,773
Schedule of Fair Value of Long-Term Debt	The carrying amount and the estimated fair value of long-term debt, including current maturities, held by the Company were: June 30, 2022 December 31, 2021 (in thousands) Carrying Amount Fair Value Carrying Amount Fair Value 2022 Revolving Credit Facility $ 96,200 $ 96,200 $ — $ — 2018 Term Loan Facility $ — $ — $ 140,000 $ 138,950 2020 Term Loan Facility $ — $ — $ 496,725 $ 502,313 2022 Term Loan Facility $ 625,000 $ 607,031 $ — $ — 6.375% Senior Notes due 2026 $ — $ — $ 92,041 $ 95,805

Derivatives and Hedging Trans_2

Derivatives and Hedging Transactions (Tables)	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Values of Outstanding Derivatives	The following table summarizes the gross fair value of the Company’s outstanding derivatives and the lines in which they are presented on the condensed consolidated balance sheet. Derivative Assets Derivative Liabilities (in thousands) June 30, 2022 December 31, 2021 June 30, 2022 December 31, 2021 Prepaid expenses and other current assets $ 3,815 $ 4,081 $ — $ — Accrued expenses and other current liabilities — — 4,300 3,773 Other long-term liabilities — — 3,535 — $ 3,815 $ 4,081 $ 7,835 $ 3,773 The following table summarizes the notional values of the Company’s outstanding derivatives: (in thousands) June 30, 2022 December 31, 2021 Notional value of foreign currency forward contracts and interest rate swaps $ 912,688 $ 704,190
Schedule of Derivative Instruments	The loss of all derivative instruments recognized is summarized below: Three Months Ended Six Months Ended (in thousands) 2022 2021 2022 2021 Loss reclassified from AOCI to income on cash flow hedges: Cost of goods and services $ (118) $ 1,018 $ (47) $ 1,772 Loss on derivatives not designated as hedging instruments: Other (income) expense, net 1,251 795 5,411 1,462 Total loss of derivative instruments $ 1,133 $ 1,813 $ 5,364 $ 3,234

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory, Net [Abstract]
Components of Inventory	Inventories consisted of the following: (in thousands) June 30, 2022 December 31, 2021 Raw materials $ 224,508 $ 186,516 Work in progress 20,803 13,615 Finished goods 485,089 421,702 730,400 621,833 Inventory reserve (27,545) (24,646) LIFO adjustments (1) (95,899) (54,277) Inventories, net $ 606,956 $ 542,910 _______________________ (1) Represents the amount by which the current cost of LIFO inventories exceeded their carrying value.

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment revenue:
Revenue	$ 932,572	$ 749,172	$ 1,798,532	$ 1,434,060
Segment operating profit (loss):
Interest expense, net	10,765	14,064	22,128	28,035
Income before income taxes	27,491	11,349	72,058	18,168
Operating Segments
Segment operating profit (loss):
Income before income taxes	56,152	47,437	123,876	86,314
Operating Segments | Production Chemical Technologies
Segment revenue:
Revenue	552,411	447,049	1,067,383	859,420
Segment operating profit (loss):
Income before income taxes	25,606	33,871	56,869	64,228
Operating Segments | Production & Automation Technologies
Segment revenue:
Revenue	242,399	188,173	462,748	355,018
Segment operating profit (loss):
Income before income taxes	23,650	12,292	48,360	17,654
Operating Segments | Drilling Technologies
Segment revenue:
Revenue	57,858	37,589	114,717	72,583
Segment operating profit (loss):
Income before income taxes	15,043	3,868	30,263	10,254
Operating Segments | Reservoir Chemical Technologies
Segment revenue:
Revenue	44,114	33,222	84,014	63,113
Segment operating profit (loss):
Income before income taxes	(8,147)	(2,594)	(11,616)	(5,822)
Corporate and Other
Segment revenue:
Revenue	35,790	43,139	69,670	83,926
Segment operating profit (loss):
Income before income taxes	$ 17,896	$ 22,024	$ 29,690	$ 40,111

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 932,572	$ 749,172	$ 1,798,532	$ 1,434,060
United States
Disaggregation of Revenue [Line Items]
Total revenue	490,364	378,857	942,966	721,667
Latin America
Disaggregation of Revenue [Line Items]
Total revenue	135,024	102,767	243,947	183,475
Middle East & Africa
Disaggregation of Revenue [Line Items]
Total revenue	102,158	89,496	202,637	170,499
Canada
Disaggregation of Revenue [Line Items]
Total revenue	94,212	80,880	192,908	159,414
Europe
Disaggregation of Revenue [Line Items]
Total revenue	58,694	49,905	118,144	100,641
Asia-Pacific
Disaggregation of Revenue [Line Items]
Total revenue	24,578	21,445	44,942	41,875
Australia
Disaggregation of Revenue [Line Items]
Total revenue	12,374	15,219	25,600	31,361
Other
Disaggregation of Revenue [Line Items]
Total revenue	15,168	10,603	27,388	25,128
Corporate and other
Disaggregation of Revenue [Line Items]
Total revenue	35,790	43,139	69,670	83,926
Corporate and other | United States
Disaggregation of Revenue [Line Items]
Total revenue	20,039	30,225	41,893	56,242
Corporate and other | Latin America
Disaggregation of Revenue [Line Items]
Total revenue	905	1,261	1,630	2,692
Corporate and other | Middle East & Africa
Disaggregation of Revenue [Line Items]
Total revenue	287	1,945	601	7,067
Corporate and other | Canada
Disaggregation of Revenue [Line Items]
Total revenue	37	124	63	282
Corporate and other | Europe
Disaggregation of Revenue [Line Items]
Total revenue	3,297	3,690	6,768	5,947
Corporate and other | Asia-Pacific
Disaggregation of Revenue [Line Items]
Total revenue	11,225	5,894	18,715	11,696
Corporate and other | Australia
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Corporate and other | Other
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Production Chemical Technologies | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	552,411	447,049	1,067,383	859,420
Production Chemical Technologies | Operating Segments | United States
Disaggregation of Revenue [Line Items]
Total revenue	205,457	156,852	396,363	306,716
Production Chemical Technologies | Operating Segments | Latin America
Disaggregation of Revenue [Line Items]
Total revenue	124,540	93,389	224,145	165,005
Production Chemical Technologies | Operating Segments | Middle East & Africa
Disaggregation of Revenue [Line Items]
Total revenue	76,028	66,213	150,072	124,583
Production Chemical Technologies | Operating Segments | Canada
Disaggregation of Revenue [Line Items]
Total revenue	72,581	63,639	148,380	124,931
Production Chemical Technologies | Operating Segments | Europe
Disaggregation of Revenue [Line Items]
Total revenue	45,889	41,046	94,910	83,654
Production Chemical Technologies | Operating Segments | Asia-Pacific
Disaggregation of Revenue [Line Items]
Total revenue	9,518	10,562	18,001	21,054
Production Chemical Technologies | Operating Segments | Australia
Disaggregation of Revenue [Line Items]
Total revenue	4,960	5,994	10,803	12,389
Production Chemical Technologies | Operating Segments | Other
Disaggregation of Revenue [Line Items]
Total revenue	13,438	9,354	24,709	21,088
Production & Automation Technologies | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	242,399	188,173	462,748	355,018
Production & Automation Technologies | Operating Segments | United States
Disaggregation of Revenue [Line Items]
Total revenue	187,982	141,799	355,784	267,712
Production & Automation Technologies | Operating Segments | Latin America
Disaggregation of Revenue [Line Items]
Total revenue	6,358	4,530	11,361	9,172
Production & Automation Technologies | Operating Segments | Middle East & Africa
Disaggregation of Revenue [Line Items]
Total revenue	19,062	13,358	35,773	24,091
Production & Automation Technologies | Operating Segments | Canada
Disaggregation of Revenue [Line Items]
Total revenue	17,484	14,754	36,936	27,282
Production & Automation Technologies | Operating Segments | Europe
Disaggregation of Revenue [Line Items]
Total revenue	3,384	1,790	5,729	3,773
Production & Automation Technologies | Operating Segments | Asia-Pacific
Disaggregation of Revenue [Line Items]
Total revenue	784	2,743	2,455	4,206
Production & Automation Technologies | Operating Segments | Australia
Disaggregation of Revenue [Line Items]
Total revenue	7,308	9,182	14,583	18,758
Production & Automation Technologies | Operating Segments | Other
Disaggregation of Revenue [Line Items]
Total revenue	37	17	127	24
Drilling Technologies | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	57,858	37,589	114,717	72,583
Drilling Technologies | Operating Segments | United States
Disaggregation of Revenue [Line Items]
Total revenue	45,848	30,392	92,667	55,799
Drilling Technologies | Operating Segments | Latin America
Disaggregation of Revenue [Line Items]
Total revenue	0	0	0	0
Drilling Technologies | Operating Segments | Middle East & Africa
Disaggregation of Revenue [Line Items]
Total revenue	1,220	1,446	2,909	2,162
Drilling Technologies | Operating Segments | Canada
Disaggregation of Revenue [Line Items]
Total revenue	3,477	1,986	6,418	5,813
Drilling Technologies | Operating Segments | Europe
Disaggregation of Revenue [Line Items]
Total revenue	5,156	2,278	8,866	4,777
Drilling Technologies | Operating Segments | Asia-Pacific
Disaggregation of Revenue [Line Items]
Total revenue	2,142	853	3,817	2,406
Drilling Technologies | Operating Segments | Australia
Disaggregation of Revenue [Line Items]
Total revenue	15	13	15	130
Drilling Technologies | Operating Segments | Other
Disaggregation of Revenue [Line Items]
Total revenue	0	621	25	1,496
Reservoir Chemical Technologies | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue	44,114	33,222	84,014	63,113
Reservoir Chemical Technologies | Operating Segments | United States
Disaggregation of Revenue [Line Items]
Total revenue	31,038	19,589	56,259	35,198
Reservoir Chemical Technologies | Operating Segments | Latin America
Disaggregation of Revenue [Line Items]
Total revenue	3,221	3,587	6,811	6,606
Reservoir Chemical Technologies | Operating Segments | Middle East & Africa
Disaggregation of Revenue [Line Items]
Total revenue	5,561	6,534	13,282	12,596
Reservoir Chemical Technologies | Operating Segments | Canada
Disaggregation of Revenue [Line Items]
Total revenue	633	377	1,111	1,106
Reservoir Chemical Technologies | Operating Segments | Europe
Disaggregation of Revenue [Line Items]
Total revenue	968	1,101	1,871	2,490
Reservoir Chemical Technologies | Operating Segments | Asia-Pacific
Disaggregation of Revenue [Line Items]
Total revenue	909	1,393	1,954	2,513
Reservoir Chemical Technologies | Operating Segments | Australia
Disaggregation of Revenue [Line Items]
Total revenue	91	30	199	84
Reservoir Chemical Technologies | Operating Segments | Other
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,693	$ 611	$ 2,527	$ 2,520

Revenue - Contract Balances (De

Revenue - Contract Balances (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract assets	$ 0	$ 0
Contract liabilities - current	$ 16,700	$ 15,246

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill - Schedule of Intangibles (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 891,013	$ 898,780
Accumulated Amortization	544,439	502,110
Net Carrying Amount	346,574	396,670
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	4,800	4,800
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible assets, gross	895,813	903,580
Accumulated Amortization	544,439	502,110
Intangible assets, net	351,374	401,470
Trademarks
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	3,600	3,600
In-process research and development
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	1,200	1,200
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	585,450	593,242
Accumulated Amortization	386,613	365,773
Net Carrying Amount	198,837	227,469
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	386,613	365,773
Unpatented technologies
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	142,760	142,540
Accumulated Amortization	46,815	37,264
Net Carrying Amount	95,945	105,276
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	46,815	37,264
Favorable supply agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	59,000	59,000
Accumulated Amortization	40,164	30,546
Net Carrying Amount	18,836	28,454
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	40,164	30,546
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	59,869	59,873
Accumulated Amortization	34,163	32,270
Net Carrying Amount	25,706	27,603
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	34,163	32,270
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	38,577	38,735
Accumulated Amortization	31,417	31,080
Net Carrying Amount	7,160	7,655
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	31,417	31,080
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	5,357	5,390
Accumulated Amortization	5,267	5,177
Net Carrying Amount	90	213
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ 5,267	$ 5,177

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Schedule of Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 702,867
Acquisition	6,345
Allocated to disposal group	(3,339)
Foreign currency translation	18,525
Ending balance	724,398
Production Chemical Technologies
Goodwill [Roll Forward]
Beginning balance	356,638
Acquisition	0
Allocated to disposal group	(3,339)
Foreign currency translation	17,146
Ending balance	370,445
Production & Automation Technologies
Goodwill [Roll Forward]
Beginning balance	205,467
Acquisition	6,345
Allocated to disposal group	0
Foreign currency translation	(156)
Ending balance	211,656
Drilling Technologies
Goodwill [Roll Forward]
Beginning balance	101,136
Acquisition	0
Allocated to disposal group	0
Foreign currency translation	0
Ending balance	101,136
Reservoir Chemical Technologies
Goodwill [Roll Forward]
Beginning balance	39,626
Acquisition	0
Allocated to disposal group	0
Foreign currency translation	1,535
Ending balance	$ 41,161

Debt - Long-term Debt (Details)

Debt - Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term Debt and Lease Obligation	$ 721,200	$ 728,766
Net unamortized discounts and issuance costs	(22,082)	(4,259)
Total long-term debt	699,118	724,507
Current portion of long-term debt	(4,688)	(26,850)
Long-term debt, less current portion	694,430	697,657
Credit Facility | 2022 Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term Debt and Lease Obligation	96,200	0
Term Loan Facility | 2018 Term Loan Facility
Debt Instrument [Line Items]
Long-term Debt and Lease Obligation	0	140,000
Term Loan Facility | 2020 Term Loan Facility
Debt Instrument [Line Items]
Long-term Debt and Lease Obligation	0	496,725
Term Loan Facility | 2022 Term Loan Facility
Debt Instrument [Line Items]
Long-term Debt and Lease Obligation	$ 625,000	$ 0
Senior Notes | 6.375% Senior Notes due 2026
Debt Instrument [Line Items]
Debt interest rate	6.375%	6.375%
Long-term Debt and Lease Obligation	$ 0	$ 92,041

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Millions				1 Months Ended	3 Months Ended	6 Months Ended
	Jun. 29, 2022	Jun. 07, 2022	May 09, 2018	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Jun. 03, 2020
Interest rate swaps | Designated as Hedging Instrument
Debt Instrument [Line Items]
Derivative instrument, term (in years)	5 years
Interest Rate Swap, First Three Years | Designated as Hedging Instrument
Debt Instrument [Line Items]
Notional value of foreign currency forward contracts and interest rate swaps	$ 300
Interest Rate Swap, Years Four And Five | Designated as Hedging Instrument
Debt Instrument [Line Items]
Notional value of foreign currency forward contracts and interest rate swaps	$ 150
Credit Agreement | Term Loan Facility
Debt Instrument [Line Items]
Debt instrument, term (in years)			7 years
2018 Term Loan Facility | Term Loan Facility
Debt Instrument [Line Items]
Principal amount of debt issued			$ 415
2020 Term Loan Facility | Term Loan Facility
Debt Instrument [Line Items]
Principal amount of debt issued								$ 537
2022 Term Loan Facility | Term Loan Facility
Debt Instrument [Line Items]
Debt instrument, term (in years)		7 years
Principal amount of debt issued		$ 625
Mandatory amortization payment, percent per annum		1%
2022 Revolving Credit Facility | Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, term (in years)		5 years
Maximum borrowing capacity		$ 700
Borrowings from lines of credit		135
Line of credit repaid				$ 38.8
2022 Revolving Credit Facility | Credit Facility | Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 100
6.375% Senior Notes due 2026 | Senior Notes
Debt Instrument [Line Items]
Debt interest rate				6.375%	6.375%	6.375%	6.375%
Redemption price, percentage of principal amount of debt		103.188%
Aggregate principal amount repurchased		$ 92
Amount of principal debt repurchased		95.6
Accrued interest paid on repurchase		$ 0.6
Net loss from repurchases of debt					$ 3.9	$ 3.9

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($) case location	Dec. 31, 2021 USD ($)	Dec. 31, 2019 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Outstanding letters of credit, surety bonds and guarantees	$ 56.2	$ 80.2
Number of locations participating in assessments and remediation | location	11
Accrued environmental liability	$ 6.9		$ 2
Number of pending cases | case	3

Restructuring and Other Relat_3

Restructuring and Other Related Charges - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Restructuring and Related Activities [Abstract]
Restructuring charges	$ 6,620	$ 3,775	$ 15,104	$ 8,031

Restructuring and Other Relat_4

Restructuring and Other Related Charges - Schedule of Restructuring and Other Related Charges (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 6,620	$ 3,775	$ 15,104	$ 8,031
Cost of goods and services
Restructuring Cost and Reserve [Line Items]
Restructuring charges	5,147	422	1,008	3,906
Selling, general and administrative expense
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1,473	3,353	14,096	4,125
Corporate and other
Restructuring Cost and Reserve [Line Items]
Restructuring charges	801	42	1,053	42
Production Chemical Technologies | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	336	3,103	11,972	3,791
Production & Automation Technologies | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	125	432	(4,022)	3,956
Drilling Technologies | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	0	0	0
Reservoir Chemical Technologies | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 5,358	$ 198	$ 6,101	$ 242

Restructuring and Other Relat_5

Restructuring and Other Related Charges - Restructuring Reserve Rollforward (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 3,743
Restructuring charges	15,104
Asset sales	131
Payments	(10,590)
Other, including foreign currency translation	(99)
Ending balance	$ 8,289

Equity and Cash Incentive Pro_3

Equity and Cash Incentive Programs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Stock-based compensation expense [Abstract]
Stock-based compensation expense	$ 5,071	$ 5,914	$ 9,799	$ 12,356
Tax benefit	(1,065)	(1,242)	(2,058)	(2,595)
Stock-based compensation expense, net of tax	$ 4,006	$ 4,672	$ 7,741	$ 9,761
Stock-Settled Appreciation Rights
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding, beginning balance (in shares)			393,523
Granted (in shares)			0
Forfeited / expired (in shares)			(1,758)
Exercised / vested (in shares)			0
Outstanding, ending balance (in shares)	391,765		391,765
Performance Share Awards
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding, beginning balance (in shares)			505,509
Granted (in shares)			347,920
Forfeited / expired (in shares)			0
Exercised / vested (in shares)			(72,410)
Outstanding, ending balance (in shares)	781,019		781,019
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding, beginning balance (in shares)			2,342,107
Granted (in shares)			932,588
Forfeited / expired (in shares)			(159,365)
Exercised / vested (in shares)			(437,275)
Outstanding, ending balance (in shares)	2,678,055		2,678,055
Non-Qualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning balance (in shares)			5,488,653
Granted (in shares)			0
Forfeited / expired (in shares)			(2,859)
Exercised / vested (in shares)			(499,562)
Outstanding, ending balance (in shares)	4,986,232		4,986,232

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended		6 Months Ended
	May 12, 2022	Feb. 04, 2022	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2022	Mar. 07, 2022
Stockholders' Equity Note [Abstract]
Approved quarterly cash dividend (in dollars per share)		$ 0.075
Dividends declared to common shareholders (in dollars per share)	$ 0.075		$ 0.075	$ 0.075
Dividends payable			$ 15,300		$ 15,300
Authorized amount of stock repurchase						$ 250,000
Repurchase and cancellation of common stock (in shares)			789,516		789,516
Average price of common stock repurchased (in dollars per share)			$ 25.33		$ 25.33
Value of repurchased common stock			$ 20,016		$ 20,000

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Accumulated Other Comprehensive 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
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		$ 1,770,645			$ 1,770,645
Other comprehensive income	$ 17,836	(2,795)	$ 14,428	$ 3,793	15,041	$ 18,221
Ending balance	1,808,321				1,808,321
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(24,420)	(21,625)	(26,962)	(30,755)	(21,625)	(30,755)
Other comprehensive income (loss) before reclassifications, net of tax	17,766	(2,864)	8,055	3,626
Reclassification adjustment for net losses included in net income, net of tax	70	69	6,373	167
Other comprehensive income	17,836	(2,795)	14,428	3,793
Ending balance	(6,584)	(24,420)	(12,534)	(26,962)	(6,584)	(12,534)
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(20,995)	(19,430)	(11,752)	(14,965)	(19,430)	(14,965)
Other comprehensive income (loss) before reclassifications, net of tax	21,169	(1,565)	8,332	3,213
Reclassification adjustment for net losses included in net income, net of tax	0	0	0	0
Other comprehensive income	21,169	(1,565)	8,332	3,213
Ending balance	174	(20,995)	(3,420)	(11,752)	174	(3,420)
Defined Pension and Other Post-Retirement Benefits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(3,407)	(3,476)	(13,303)	(13,470)	(3,476)	(13,470)
Other comprehensive income (loss) before reclassifications, net of tax	0	0	0	0
Reclassification adjustment for net losses included in net income, net of tax	70	69	6,373	167
Other comprehensive income	70	69	6,373	167
Ending balance	(3,337)	(3,407)	(6,930)	(13,303)	(3,337)	(6,930)
Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(18)	1,281	(1,907)	(2,320)	1,281	(2,320)
Other comprehensive income (loss) before reclassifications, net of tax	(3,403)	(1,299)	(277)	413
Reclassification adjustment for net losses included in net income, net of tax	0	0	0	0
Other comprehensive income	(3,403)	(1,299)	(277)	413
Ending balance	$ (3,421)	$ (18)	$ (2,184)	$ (1,907)	$ (3,421)	$ (2,184)

Stockholders' Equity - Reclassi

Stockholders' Equity - Reclassifications from Accumulated Comprehensive 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
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other (income) expense, net	$ 32,281		$ 2,251		$ 33,601	$ 315
Income before income taxes	(27,491)		(11,349)		(72,058)	(18,168)
Provision for (benefit from) income taxes	(1,405)		3,563		4,989	6,345
Net income	(28,896)	$ (38,173)	(7,786)	$ (4,037)	(67,069)	(11,823)
Amortization of actuarial loss and other | Reclassification from accumulated other comprehensive loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other (income) expense, net	70		6,326		139	6,540
Accumulated defined benefit plans adjustment including portion attributable to noncontrolling interest | Reclassification from accumulated other comprehensive loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	70		6,326		139	6,540
Provision for (benefit from) income taxes	0		47		0	0
Net income	$ 70		$ 6,373		$ 139	$ 6,540

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Net income attributable to ChampionX	$ 27,342	$ 7,250	$ 64,044	$ 13,022
Weighted-average number of shares outstanding (in shares)	203,322	201,467	203,200	201,063
Dilutive effect of stock-based compensation (in shares)	5,392	7,074	5,663	6,876
Total shares and dilutive securities (in shares)	208,714	208,541	208,863	207,939
Basic earnings per share attributable to ChampionX (in dollars per share)	$ 0.13	$ 0.04	$ 0.32	$ 0.06
Diluted earnings per share attributable to ChampionX (in dollars per share)	$ 0.13	$ 0.03	$ 0.31	$ 0.06
Number of antidilutive securities excluded (in shares)	400	700	400	700

Acquisitions and Divestitures -

Acquisitions and Divestitures - Narrative (Details) - USD ($) $ in Thousands			3 Months Ended	6 Months Ended
	Feb. 23, 2023	Feb. 23, 2022	Jun. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill			$ 724,398	$ 724,398	$ 702,867
Disposal Group, Held-for-sale, Not Discontinued Operations | CT Russia Business
Business Acquisition [Line Items]
Charge on divestiture			$ 22,900	$ 22,900
Leak Surveys, Inc.
Business Acquisition [Line Items]
Amount paid for acquisition		$ 3,200
Future payments contingent upon performance		2,500
Goodwill		$ 6,300
Leak Surveys, Inc. | Forecast
Business Acquisition [Line Items]
Amount paid for acquisition	$ 500

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Schedule of Major Class of Assets and Liabilities Held For Sale (Details) - Disposal Group, Held-for-sale, Not Discontinued Operations - CT Russia Business $ in Thousands	Jun. 30, 2022 USD ($)
Business Acquisition [Line Items]
Receivables	$ 9,708
Inventory	10,830
Prepaid expenses and other current assets	3,670
Property, plant, and equipment	5,455
Goodwill	3,339
Intangible assets	7,803
Operating lease right-of-use assets	2,419
Loss on disposal group	(22,924)
Total assets held for sale	20,300
Accounts payable	2,840
Other current liabilities	3,719
Other noncurrent liabilities	3,869
Total liabilities held for sale	$ 10,428

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets
Derivative assets	$ 3,815	$ 4,081
Liabilities
Derivative liabilities	7,835	3,773
Carrying Amount	721,200	728,766
Credit Facility | 2022 Revolving Credit Facility | Revolving Credit Facility
Liabilities
Carrying Amount	96,200	0
Fair Value	96,200	0
Term Loan Facility | 2018 Term Loan Facility
Liabilities
Carrying Amount	0	140,000
Term Loan Facility | 2020 Term Loan Facility
Liabilities
Carrying Amount	0	496,725
Term Loan Facility | 2022 Term Loan Facility
Liabilities
Carrying Amount	$ 625,000	$ 0
Senior Notes | 6.375% Senior Notes due 2026
Liabilities
Debt interest rate	6.375%	6.375%
Carrying Amount	$ 0	$ 92,041
Level 2 | Term Loan Facility | 2018 Term Loan Facility
Liabilities
Fair Value	0	138,950
Level 2 | Term Loan Facility | 2020 Term Loan Facility
Liabilities
Fair Value	0	502,313
Level 2 | Term Loan Facility | 2022 Term Loan Facility
Liabilities
Fair Value	607,031	0
Level 1 | Senior Notes | 6.375% Senior Notes due 2026
Liabilities
Fair Value	0	95,805
Fair Value, Recurring | Level 2
Assets
Derivative assets	3,815	4,081
Liabilities
Derivative liabilities	7,835	3,773
Foreign currency forward contracts | Fair Value, Recurring | Level 2
Assets
Derivative assets	3,423	4,081
Liabilities
Derivative liabilities	3,445	3,773
Interest rate swaps | Fair Value, Recurring | Level 2
Assets
Derivative assets	392	0
Liabilities
Derivative liabilities	$ 4,390	$ 0

Derivatives and Hedging Trans_3

Derivatives and Hedging Transactions - Schedule of Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Derivative Assets	$ 3,815	$ 4,081
Derivative Liabilities	7,835	3,773
Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	4,300	3,773
Other long-term liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	$ 3,535	$ 0

Derivatives and Hedging Trans_4

Derivatives and Hedging Transactions - Schedule of Derivative Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Foreign Exchange Forward And Interest Rate Swap [Member]
Derivative [Line Items]
Notional value under derivative instrument agreement	$ 912,688	$ 704,190

Derivatives and Hedging Trans_5

Derivatives and Hedging Transactions - Schedule of Gain (Loss) on Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total loss of derivative instruments	$ 1,133	$ 1,813	$ 5,364	$ 3,234
Cost of goods and services | Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total loss of derivative instruments	(118)	1,018	(47)	1,772
Other (income) expense, net | Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total loss of derivative instruments	$ 1,251	$ 795	$ 5,411	$ 1,462

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Inventory, Net [Abstract]
Raw materials	$ 224,508	$ 186,516
Work in progress	20,803	13,615
Finished goods	485,089	421,702
Subtotal	730,400	621,833
Inventory reserve	(27,545)	(24,646)
LIFO adjustments	(95,899)	(54,277)
Inventories, net	$ 606,956	$ 542,910

Cash Flow Information (Details)

Cash Flow Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Transfers from inventory	$ 34.7	$ 20.3