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Performance Chemicals Divestiture - Reconciliation of Loss (Details) - USD ($) $ in Thousands | 12 Months Ended
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Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019
Dispositions [Line Items] |  |  |
Estimate disposal loss | $ 109,584 |  |
Net proceeds received | 978,449 | $ 624,256 | $ 0
Loss on sale of Performance Chemicals | (150,230) | (70,878) |
Stock compensation expense | 31,838 | 17,194 | $ 13,281
Provision for income taxes | 37,255 |  |
Performance Chemicals |  |  |
Dispositions [Line Items] |  |  |
Net proceeds received | 978,449 |  |
Transaction costs | 35,402 |  |
Net assets derecognized | (1,093,277) |  |
Loss on sale of Performance Chemicals | 150,230 | 0 |
Stock compensation expense | 5,691 |  |
Provision for income taxes | $ (24,886) | $ 3,943 |
Discontinued operations | The following is a reconciliation of the loss recorded on the sale:
Net proceeds received from the sale of the Performance Chemicals business |  | $ | 978,449 |
Transaction costs |  | (35,402) |
Net assets derecognized |  | (1,093,277) |
Loss on sale of the Performance Chemicals business |  | $ | (150,230) |
The following table summarizes the results of discontinued operations related to Performance Chemicals for the periods presented:
| Years ended December 31,
| 2021 |  | 2020 |  |
Sales | $ | 389,870 |  |  | $ | 614,704 |  |  |
Cost of goods sold | 284,220 |  |  | 492,302 |  |  |
Selling, general and administrative expenses | 29,856 |  |  | 43,749 |  |  |
Goodwill impairment charge | 75,080 |  |  | 260,000 |  |  |
Other operating expense, net(1) | 14,765 |  |  | 33,144 |  |  |
Loss on sale of the Performance Chemicals business | 150,230 |  |  | — |  |  |
Operating (loss) income | (164,281) |  |  | (214,491) |  |  |
Equity in net income from affiliated companies | (111) |  |  | (172) |  |  |
Interest expense, net (2) | 10,730 |  |  | 16,570 |  |  |
Other income, net | (6,210) |  |  | (1,089) |  |  |
(Loss) income from discontinued operations before income tax | (168,690) |  |  | (229,800) |  |  |
(Benefit) Provision for income taxes | (24,886) |  |  | 3,943 |  |  |
(Loss) income from discontinued operations, net of tax | $ | (143,804) |  |  | $ | (233,743) |  |  |
(1) The Company reclassified transaction costs that were previously recorded to this line item and included those charges in the line item Loss on sale of the Performance Chemicals business during the years ended December 31, 2021 and 2020. (2) Upon the close of the transaction, the Company used a portion of the net proceeds to repay a portion of its outstanding debt amounting to $526,363. Refer to Note 18 for additional details on the repayment of outstanding debt. Prior to the Company’s debt refinancing in June 2021, the Company’s outstanding term loan facilities had required refinancing of debt with repayment provisions. As a result, interest expense has been allocated to discontinued operations on the basis of the Company’s total repayment of $526,363. The following table summarizes the assets and liabilities of discontinued operations at December 31, 2020 and 2019, respectively:
|  | December 31, 2020 |  | December 31, 2019
ASSETS |  |  |  |
Cash and cash equivalents |  | $ | 22,153 |  |  | $ | 17,736 |
Accounts receivables, net |  | 87,202 |  |  | 86,627 |
Inventories, net |  | 74,647 |  |  | 86,732 |
Prepaid and other current assets |  | 21,088 |  |  | 24,131 |
Current assets held for sale |  | $ | 205,090 |  |  | $ | 215,226 |
Investments in affiliated companies |  | $ | 324 |  |  | $ | 1,476 |
Property, plant and equipment, net |  | 391,524 |  |  | 401,595 |
Goodwill(1) |  | 326,173 |  |  | 583,075 |
Other intangible assets, net |  | 388,857 |  |  | 406,656 |
Right-of-use lease assets |  | 19,296 |  |  | 24,093 |
Other long-term assets |  | 23,269 |  |  | 17,688 |
Long-term assets held for sale |  | $ | 1,149,443 |  |  | $ | 1,434,583 |
LIABILITIES |  |  |  |
Notes payable and current maturities of long-term debt |  | $ | — |  |  | $ | — |
Accounts payable |  | 74,728 |  |  | 76,482 |
Operating lease liabilities—current |  | 8,479 |  |  | 6,341 |
Accrued liabilities |  | 25,330 |  |  | 26,182 |
Current liabilities held for sale |  | $ | 108,537 |  |  | $ | 109,005 |
Deferred income taxes |  | $ | 49,690 |  |  | $ | 47,848 |
Operating lease liabilities—noncurrent |  | 10,047 |  |  | 16,182 |
Other long-term liabilities |  | 95,617 |  |  | 72,538 |
Long-term liabilities held for sale |  | $ | 155,354 |  |  | $ | 136,568 |
(1) The Company applied the market approach to estimate the fair value of the Performance Chemicals business, which is consistent with the accounting policies described in Note 2 and the valuation techniques described in Note 15. In applying the market approach, the Company estimated the fair value using publicly traded comparable company values and applied the selected market multiples to a trailing twelve months adjusted EBITDA. As a result, the Company recorded an additional goodwill impairment charge of $75,080 in the first quarter of 2021 related to the Performance Chemicals business. |  |

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