Condensed Consolidating Financial Information

9 Months Ended

12 Months Ended

Sep. 30, 2018

Dec. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Condensed Consolidating Financial Information

NOTE 18 — CONDENSED CONSOLIDATING FINANCIAL INFORMATION

On May 3, 2018, and in connection with the Separation, Apergy completed the issuance of $300 million of senior notes, the payment obligations of which are fully and unconditionally guaranteed by certain 100-percent-owned subsidiaries of Apergy on a joint and several basis. The following financial information presents the results of operations, financial position and cash flows for:

• Apergy Corporation (issuer)

• 100-percent-owned guarantor subsidiaries

• All other non-guarantor subsidiaries

• Adjustments necessary to present Apergy results on a consolidated basis.

This condensed consolidating financial information should be read in conjunction with the accompanying consolidated financial statements and notes.

	Three Months Ended September 30, 2018
(in thousands)	Apergy Corporation			Subsidiary guarantors			Subsidiary non-guarantors			Adjustments and eliminations			Total
Product revenue	$	—		$	250,549		$	32,553		$	—		$	283,102
Service revenue		—			13,757			6,714			—			20,471
Lease and other revenue		—			12,531			364			—			12,895
Related party revenue		—			5,944			4,853			(10,797	)		—
Total revenue		—			282,781			44,484			(10,797	)		316,468
Cost of goods and services		—			175,718			37,899			(10,883	)		202,734
Gross profit		—			107,063			6,585			86			113,734
Selling, general and administrative expense		87			63,470			5,465			—			69,022
Interest expense, net		10,491			84			9			—			10,584
Other expense (income), net		—			(524	)		1,434			—			910
Income (loss) before income taxes and equity in earnings of affiliates		(10,578	)		44,033			(323	)		86			33,218
Provision for (benefit from) income taxes		(2,575	)		8,744			1,536			18			7,723
Income (loss) before equity in earnings of affiliates		(8,003	)		35,289			(1,859	)		68			25,495
Equity in earnings of affiliates		33,266			5,344			12,604			(51,214	)		—
Net income		25,263			40,633			10,745			(51,146	)		25,495
Net income attributable to noncontrolling interest		—			—			232			—			232
Net income attributable to Apergy	$	25,263		$	40,633		$	10,513		$	(51,146	)	$	25,263
Comprehensive income attributable to Apergy	$	25,187		$	39,904		$	11,166		$	(51,070	)	$	25,187

	Three Months Ended September 30, 2017
(in thousands)	Apergy Corporation		Subsidiary guarantors		Subsidiary non-guarantors		Adjustments and eliminations			Total
Product revenue	$	—	$	203,623	$	32,225	$	—		$	235,848
Service revenue		—		9,419		6,729		—			16,148
Lease and other revenue		—		6,296		351		—			6,647
Related party revenue		—		7,656		3,232		(10,877	)		11
Total revenue		—		226,994		42,537		(10,877	)		258,654
Cost of goods and services		—		148,389		36,261		(10,770	)		173,880
Gross profit		—		78,605		6,276		(107	)		84,774
Selling, general and administrative expense		—		50,448		4,380		—			54,828
Interest expense, net		—		78		1		—			79
Other expense, net		—		2,816		124		1			2,941
Income before income taxes and equity in earnings of affiliates		—		25,263		1,771		(108	)		26,926
Provision for income taxes		—		7,938		340		(37	)		8,241
Income before equity in earnings of affiliates		—		17,325		1,431		(71	)		18,685
Equity in earnings of affiliates		18,421		2,435		3,006		(23,862	)		—
Net income		18,421		19,760		4,437		(23,933	)		18,685
Net income attributable to noncontrolling interest		—		—		264		—			264
Net income attributable to Apergy	$	18,421	$	19,760	$	4,173	$	(23,933	)	$	18,421
Comprehensive income attributable to Apergy	$	23,791	$	20,195	$	9,108	$	(29,303	)	$	23,791

	Nine Months Ended September 30, 2018
(in thousands)	Apergy Corporation			Subsidiary guarantors		Subsidiary non-guarantors			Adjustments and eliminations			Total
Product revenue	$	—		$	714,226	$	94,084		$	—		$	808,310
Service revenue		—			42,344		19,670			—			62,014
Lease and other revenue		—			34,855		1,139			—			35,994
Related party revenue		—			18,598		13,565			(32,163	)		—
Total revenue		—			810,023		128,458			(32,163	)		906,318
Cost of goods and services		—			515,005		111,142			(31,542	)		594,605
Gross profit		—			295,018		17,316			(621	)		311,713
Selling, general and administrative expense		1,588			176,733		16,247			—			194,568
Interest expense, net		16,494			288		32			(1	)		16,813
Other expense, net		—			1,872		1,851			1			3,724
Income (loss) before income taxes and equity in earnings of affiliates		(18,082	)		116,125		(814	)		(621	)		96,608
Provision for (benefit from) income taxes		(4,217	)		24,076		4,595			(130	)		24,324
Income (loss) before equity in earnings of affiliates		(13,865	)		92,049		(5,409	)		(491	)		72,284
Equity in earnings of affiliates		85,854			18,811		37,568			(142,233	)		—
Net income		71,989			110,860		32,159			(142,724	)		72,284
Net income attributable to noncontrolling interest		—			—		295			—			295
Net income attributable to Apergy	$	71,989		$	110,860	$	31,864		$	(142,724	)	$	71,989
Comprehensive income attributable to Apergy	$	63,613		$	110,214	$	24,134		$	(134,348	)	$	63,613

	Nine Months Ended September 30, 2017
(in thousands)	Apergy Corporation		Subsidiary guarantors		Subsidiary non-guarantors		Adjustments and eliminations			Total
Product revenue	$	—	$	590,554	$	89,283	$	—		$	679,837
Service revenue		—		25,060		21,103		—			46,163
Lease and other revenue		—		17,501		1,573		—			19,074
Related party revenue		—		19,477		9,702		(29,160	)		19
Total revenue		—		652,592		121,661		(29,160	)		745,093
Cost of goods and services		—		425,792		103,259		(28,722	)		500,329
Gross profit		—		226,800		18,402		(438	)		244,764
Selling, general and administrative expense		—		149,145		13,214		—			162,359
Interest expense, net		—		196		3		—			199
Other expense, net		—		7,611		318		—			7,929
Income before income taxes and equity in earnings of affiliates		—		69,848		4,867		(438	)		74,277
Provision for income taxes		—		22,726		400		(153	)		22,973
Income before equity in earnings of affiliates		—		47,122		4,467		(285	)		51,304
Equity in earnings of affiliates		50,444		5,579		5,446		(61,469	)		—
Net income		50,444		52,701		9,913		(61,754	)		51,304
Net income attributable to noncontrolling interest		—		—		860		—			860
Net income attributable to Apergy	$	50,444	$	52,701	$	9,053	$	(61,754)		$	50,444
Comprehensive income attributable to Apergy	$	57,538	$	53,055	$	15,793	$	(68,848)		$	57,538

	September 30, 2018
(in thousands)	Apergy Corporation			Subsidiary guarantors			Subsidiary non-guarantors			Adjustments and eliminations			Total
Assets
Cash and cash equivalents	$	108		$	8,308		$	9,598		$	—		$	18,014
Receivables		—			245,950			40,797			(8,821	)		277,926
Inventories		—			189,536			31,146			(1,549	)		219,133
Prepaid and other current assets		71			18,846			1,907			—			20,824
Total current assets		179			462,640			83,448			(10,370	)		535,897
Property, plant and equipment, net		—			222,425			13,642			—			236,067
Goodwill		—			633,771			272,995			—			906,766
Advances due from affiliates		660,836			14,228			81,199			(756,263	)		—
Intercompany notes receivable		—			1,394			4			(1,398	)		—
Investment in subsidiaries		978,944			688,890			542,462			(2,210,296	)		—
Intangible assets, net		—			207,694			89,703			—			297,397
Other assets and deferred charges		4,226			2,292			711			—			7,229
Total assets		1,644,185			2,233,334			1,084,164			(2,978,327	)		1,983,356
Liabilities and Equity
Accounts payable		30			113,497			22,397			(8,821	)		127,103
Accrued compensation and employee benefits		—			31,619			5,369			—			36,988
Other accrued expenses		(3,811	)		784,752			28,703			(756,590	)		53,054
Total current liabilities		(3,781	)		929,868			56,469			(765,411	)		217,145
Intercompany notes payable		—			4			1,394			(1,398	)		—
Long-term debt		683,206			4,321			16			—			687,543
Deferred income taxes		—			73,089			20,049			—			93,138
Other long-term liabilities		—			19,459			1,311			—			20,770
Total liabilities		679,425			1,026,741			79,239			(766,809	)		1,018,596
Equity:
Stockholders’ capital		964,760			1,213,290			1,034,542			(2,211,518	)		1,001,074
Accumulated other comprehensive loss		—			(6,697	)		(31,830	)		—			(38,527	)
Total stockholders’ equity		964,760			1,206,593			1,002,712			(2,211,518	)		962,547
Noncontrolling interest		—			—			2,213			—			2,213
Total equity		964,760			1,206,593			1,004,925			(2,211,518	)		964,760
Total liabilities and equity	$	1,644,185		$	2,233,334		$	1,084,164		$	(2,978,327	)	$	1,983,356

	December 31, 2017
(in thousands)	Apergy Corporation		Subsidiary guarantors			Subsidiary non- guarantors			Adjustments and eliminations			Total
Assets
Cash and cash equivalents	$	—	$	5,763		$	17,949		$	—		$	23,712
Receivables		—		171,363			34,335			(3,674	)		202,024
Inventories		—		175,031			27,488			(928	)		201,591
Prepaid and other current assets		—		11,990			2,048			—			14,038
Total current assets		—		364,147			81,820			(4,602	)		441,365
Property, plant and equipment, net		—		195,579			16,253			—			211,832
Goodwill		—		633,734			276,354			—			910,088
Advances due from affiliates		—		10,299			60,109			(70,408	)		—
Investment in subsidiaries		1,640,034		801,235			388,315			(2,829,584	)		—
Intangible assets, net		—		234,795			103,715			—			338,510
Other assets and deferred charges		—		2,129			851			—			2,980
Total assets		1,640,034		2,241,918			927,417			(2,904,594	)		1,904,775
Liabilities and Equity
Accounts payable		—		83,864			18,636			(3,674	)		98,826
Accrued compensation and employee benefits		—		24,875			5,414			—			30,289
Other accrued expenses		—		74,393			18,289			(70,732	)		21,950
Total current liabilities		—		183,132			42,339			(74,406	)		151,065
Deferred income taxes		—		75,075			21,910			—			96,985
Other liabilities		—		16,657			34			—			16,691
Equity:
Parent Company investment in Apergy		1,640,034		1,971,790			880,064			(2,830,188	)		1,661,700
Accumulated other comprehensive loss		—		(4,736	)		(21,679	)		—			(26,415	)
Total Parent Company equity		1,640,034		1,967,054			858,385			(2,830,188	)		1,635,285
Noncontrolling interest		—		—			4,749			—			4,749
Total equity		1,640,034		1,967,054			863,134			(2,830,188	)		1,640,034
Total liabilities and equity	$	1,640,034	$	2,241,918		$	927,417		$	(2,904,594	)	$	1,904,775

	Nine Months Ended September 30, 2018
(in thousands)	Apergy Corporation			Subsidiary guarantors			Subsidiary non-guarantors			Adjustments and eliminations			Total
Cash provided (required) by operating activities	$	(16,694	)	$	103,911		$	6,588		$	(999	)	$	92,806
Cash provided (required) by investing activities:
Capital expenditures		—			(43,746	)		(2,086	)		—			(45,832	)
Proceeds from sale of property, plant, and equipment		—			938			32			—			970
Purchase price adjustments on acquisition		—			—			53			—			53
Net cash required by investing activities		—			(42,808	)		(2,001	)		—			(44,809	)
Cash provided (required) by financing activities:
Proceeds from long-term debt, net of discounts		713,963			—			—			—			713,963
Payment of debt issue costs		(16,006	)		—			—			—			(16,006	)
Repayment of long-term debt		(20,000	)		—			—			—			(20,000	)
Advances due to/(from) affiliates		(660,836	)		677,999			(17,163	)		—			—
Net transfers to Parent Company and intercompany distributions		(319	)		(736,557	)		7,020			999			(728,857	)
Distributions to noncontrolling interest		—			—			(2,720	)		—			(2,720	)
Net cash provided (required) by financing activities		16,802			(58,558	)		(12,863	)		999			(53,620	)
Effect of exchange rate changes on cash and cash equivalents		—			—			(75	)		—			(75	)
Net increase (decrease) in cash and cash equivalents		108			2,545			(8,351	)		—			(5,698	)
Cash and cash equivalents at beginning of period		—			5,763			17,949			—			23,712
Cash and cash equivalents at end of period	$	108		$	8,308		$	9,598		$	—		$	18,014

	Nine Months Ended September 30, 2017
(in thousands)	Apergy Corporation		Subsidiary guarantors			Subsidiary non-guarantors			Adjustments and eliminations			Total
Cash provided by operating activities	$	—	$	38,153		$	2,899		$	153		$	41,205
Cash provided (required) by investing activities:
Capital expenditures		—		(28,221	)		(1,224	)		—			(29,445	)
Proceeds from sale of property, plant, and equipment		—		2,596			20			—			2,616
Net cash required by investing activities		—		(25,625	)		(1,204	)		—			(26,829	)
Cash provided (required) by financing activities:
Net transfers to Parent Company and intercompany distributions		—		(13,132	)		(5,935	)		(153	)		(19,220	)
Distributions to noncontrolling interest		—		—			(1,212	)		—			(1,212	)
Net cash required by financing activities		—		(13,132	)		(7,147	)		(153	)		(20,432	)
Effect of exchange rate changes on cash and cash equivalents		—		—			3,476			—			3,476
Net decrease in cash and cash equivalents		—		(604	)		(1,976	)		—			(2,580	)
Cash and cash equivalents at beginning of period		—		3,730			22,297			—			26,027
Cash and cash equivalents at end of period	$	—	$	3,126		$	20,321		$	—		$	23,447

20. Condensed Combining Financial Information

On May 3, 2018, and in connection with the Separation, Apergy completed the issuance of $300 million of senior notes, the payment obligations of which are fully and unconditionally guaranteed by certain 100-percent-owned subsidiaries of Apergy on a joint and several basis. The following financial information presents the results of operations, financial position and cash flows for:

• Apergy Corporation (issuer)

• 100-percent-owned guarantor subsidiaries

• All other non-guarantor subsidiaries

• Adjustments necessary to present Apergy results on a combined basis.

This condensed combining financial information should be read in conjunction with the accompanying combined financial statements and notes.

	Year Ended December 31, 2017
(in thousands)	Apergy Corporation		Subsidiary guarantors			Subsidiary non-guarantors			Adjustments and eliminations			Total
Revenue	$	—	$	881,187		$	164,507		$	(36,103	)	$	1,009,591
Cost of goods and services		—		586,519			140,516			(35,911	)		691,124
Gross profit		—		294,668			23,991			(192	)		318,467
Selling, general and administrative expense		—		200,839			18,678			—			219,517
Operating income (loss)		—		93,829			5,313			(192	)		98,950
Other expense, net		—		9,429			237			—			9,666
Income before income taxes and equity in earnings of affiliates		—		84,400			5,076			(192	)		89,284
Benefit from income taxes		—		(10,680	)		(11,537	)		(67	)		(22,284	)
Income before equity in earnings of affiliates		—		95,080			16,613			(125	)		111,568
Equity in earnings of affiliates		110,638		22,110			11,020			(143,768	)		—
Net income		110,638		117,190			27,633			(143,893	)		111,568
Net income attributable to noncontrolling interest		—		—			930			—			930
Net income attributable to Apergy	$	110,638	$	117,190		$	26,703		$	(143,893	)	$	110,638
Comprehensive income attributable to Apergy	$	117,852	$	120,042		$	31,065		$	(151,102	)	$	117,852

	Year Ended December 31, 2016
(in thousands)	Apergy Corporation			Subsidiary guarantors			Subsidiary non-guarantors			Adjustments and eliminations			Total
Revenue	$	—		$	644,392		$	142,614		$	(35,669	)	$	751,337
Cost of goods and services		—			459,465			132,350			(35,806	)		556,009
Gross profit		—			184,927			10,264			137			195,328
Selling, general and administrative expense		—			183,892			21,517			—			205,409
Operating income (loss)		—			1,035			(11,253	)		137			(10,081	)
Other expense, net		—			8,550			203			0			8,753
Loss before income taxes and equity in earnings of affiliates		—			(7,515	)		(11,456	)		137			(18,834	)
Benefit from income taxes		—			(2,750	)		(5,341	)		48			(8,043	)
Loss before equity in losses of affiliates		—			(4,765	)		(6,115	)		89			(10,791	)
Equity in losses of affiliates		(12,642	)		(23,668	)		(8,273	)		44,583			—
Net loss		(12,642	)		(28,433	)		(14,388	)		44,672			(10,791	)
Net income attributable to noncontrolling interest		—			—			1,851			—			1,851
Net loss attributable to Apergy	$	(12,642	)	$	(28,433	)	$	(16,239	)	$	44,672		$	(12,642	)
Comprehensive loss attributable to Apergy	$	(11,577	)	$	(28,402	)	$	(15,205	)	$	43,607		$	(11,577	)

	Year Ended December 31, 2015
(in thousands)	Apergy Corporation		Subsidiary guarantors			Subsidiary non-guarantors			Adjustments and eliminations			Total
Revenue	$	—	$	923,957		$	192,682		$	(39,959	)	$	1,076,680
Cost of goods and services		—		604,715			177,504			(40,178	)		742,041
Gross profit		—		319,242			15,178			219			334,639
Selling, general and administrative expense		—		220,897			24,826			—			245,723
Operating income (loss)		—		98,345			(9,648	)		219			88,916
Other expense (income), net		—		10,606			(376	)		1421			11,651
Income (loss) before income taxes and equity in earnings (losses) of affiliates		—		87,739			(9,272	)		(1,202	)		77,265
Provision for (benefit from) income taxes		—		29,485			(5,431	)		77			24,131
Income (loss) before equity in earnings of affiliates		—		58,254			(3,841	)		(1,279	)		53,134
Equity in earnings (losses) of affiliates		51,698		(17,980	)		2,762			(36,480	)		—
Net income (loss)		51,698		40,274			(1,079	)		(37,759	)		53,134
Net income attributable to noncontrolling interest		—		—			1,436			—			1,436
Net income (loss) attributable to Apergy	$	51,698	$	40,274		$	(2,515	)	$	(37,759	)	$	51,698
Comprehensive income (loss) attributable to Apergy	$	39,738	$	39,594		$	(13,795	)	$	(25,799	)	$	39,738

	December 31, 2017
(in thousands)	Apergy Corporation		Subsidiary guarantors			Subsidiary non- guarantors			Adjustments and eliminations			Total
Assets
Cash and cash equivalents	$	—	$	5,763		$	17,949		$	—		$	23,712
Receivables		—		171,363			34,335			(3,674	)		202,024
Inventories		—		175,031			27,488			(928	)		201,591
Prepaid and other current assets		—		11,990			2,048			—			14,038
Total current assets		—		364,147			81,820			(4,602	)		441,365
Property, plant and equipment, net		—		195,579			16,253			—			211,832
Goodwill		—		633,734			276,354			—			910,088
Advances due from affiliates		—		10,299			60,109			(70,408	)		—
Investment in subsidiaries		1,640,034		801,235			388,315			(2,829,584	)		—
Intangible assets, net		—		234,795			103,715			—			338,510
Other assets and deferred charges		—		2,129			851			—			2,980
Total assets		1,640,034		2,241,918			927,417			(2,904,594	)		1,904,775
Liabilities and Equity
Accounts payable		—		83,864			18,636			(3,674	)		98,826
Accrued compensation and employee benefits		—		24,875			5,414			—			30,289
Other accrued expenses		—		74,393			18,289			(70,732	)		21,950
Total current liabilities		—		183,132			42,339			(74,406	)		151,065
Deferred income taxes		—		75,075			21,910			—			96,985
Other liabilities		—		16,657			34			—			16,691
Equity:
Parent Company investment in Apergy		1,640,034		1,971,790			880,064			(2,830,188	)		1,661,700
Accumulated other comprehensive loss		—		(4,736	)		(21,679	)		—			(26,415	)
Total Parent Company equity		1,640,034		1,967,054			858,385			(2,830,188	)		1,635,285
Noncontrolling interest		—		—			4,749			—			4,749
Total equity		1,640,034		1,967,054			863,134			(2,830,188	)		1,640,034
Total liabilities and equity	$	1,640,034	$	2,241,918		$	927,417		$	(2,904,594	)	$	1,904,775

	December 31, 2016
(in thousands)	Apergy Corporation		Subsidiary guarantors			Subsidiary non- guarantors			Adjustments and eliminations			Total
Assets
Cash and cash equivalents	$	—	$	3,730		$	22,297		$	—		$	26,027
Receivables		—		116,340			29,511			(6,366	)		139,485
Inventories		—		161,314			23,979			(735	)		184,558
Prepaid and other current assets		—		4,090			2,161			—			6,251
Total current assets		—		285,474			77,948			(7,101	)		356,321
Property, plant and equipment, net		—		180,292			21,455			—			201,747
Goodwill		—		633,734			268,845			—			902,579
Advances due from affiliates		—		10,464			64,521			(74,985	)		—
Investment in subsidiaries		1,551,353		753,916			348,046			(2,653,315	)		—
Intangible assets, net		—		273,127			113,690			—			386,817
Other assets and deferred charges		—		2,499			932			—			3,431
Total assets		1,551,353		2,139,506			895,437			(2,735,401	)		1,850,895
Liabilities and Equity
Accounts payable		—		53,195			19,451			(6,366	)		66,280
Accrued compensation and employee benefits		—		20,450			4,338			—			24,788
Other accrued expenses		—		81,402			15,466			(75,242	)		21,626
Total current liabilities		—		155,047			39,255			(81,608	)		112,694
Deferred income taxes		—		125,490			42,075			—			167,565
Other liabilities		—		19,009			274			—			19,283
Equity:
Parent Company investment in Apergy		1,551,353		1,847,548			834,843			(2,653,793	)		1,579,951
Accumulated other comprehensive loss		—		(7,588	)		(26,041	)		—			(33,629	)
Total Parent Company equity		1,551,353		1,839,960			808,802			(2,653,793	)		1,546,322
Noncontrolling interest		—		—			5,031			—			5,031
Total equity		1,551,353		1,839,960			813,833			(2,653,793	)		1,551,353
Total liabilities and equity	$	1,551,353	$	2,139,506		$	895,437		$	(2,735,401	)	$	1,850,895

	Year Ended December 31, 2017
(in thousands)	Apergy Corporation		Subsidiary guarantors			Subsidiary non- guarantors			Adjustments and eliminations			Total
Cash provided (required) by operating activities	$	—	$	65,289		$	11,561		$	67		$	76,917
Cash provided (required) by investing activities:
Additions to property, plant and equipment		—		(39,565	)		(1,646	)		—			(41,211	)
Proceeds from sale of property, plant, and equipment		—		3,433			114			—			3,547
Acquisition (net of cash and cash equivalents acquired)		—		—			(8,842	)		—			(8,842	)
Net cash required by investing activities		—		(36,132	)		(10,374	)		—			(46,506	)
Cash provided (required) by financing activities:
Change in borrowings, net		—		—			(599	)		—			(599	)
Distributions to noncontrolling interest		—		—			(1,212	)		—			(1,212	)
Net transfers to Parent Company and intercompany distributions		—		(27,124	)		(4,001	)		(67	)		(31,192	)
Net cash required by financing activities		—		(27,124	)		(5,812	)		(67	)		(33,003	)
Effect of exchange rate changes on cash and cash equivalents		—		—			277			—			277
Net increase (decrease) in cash and cash equivalents		—		2,033			(4,348	)		—			(2,315	)
Cash and cash equivalents at beginning of period		—		3,730			22,297			—			26,027
Cash and cash equivalents at end of period	$	—	$	5,763		$	17,949		$	—		$	23,712

	Year Ended December 31, 2016
(in thousands)	Apergy Corporation		Subsidiary guarantors			Subsidiary non- guarantors			Adjustments and eliminations			Total
Cash provided by operating activities	$	—	$	103,788		$	25,979		$	(48	)	$	129,709
Cash provided (required) by investing activities:
Additions to property, plant and equipment		—		(23,080	)		(3,774	)		—			(26,854	)
Proceeds from sale of property, plant, and equipment		—		2,245			281			—			2,526
Additions to intangible assets		—		(3,700	)		—			—			(3,700	)
Net cash required by investing activities		—		(24,535	)		(3,493	)		—			(28,028	)
Cash provided (required) by financing activities:
Distributions to noncontrolling interest		—		—			(1,727	)		—			(1,727	)
Net transfers to Parent Company and intercompany distributions		—		(78,232	)		(6,070	)		48			(84,254	)
Net cash required by financing activities		—		(78,232	)		(7,797	)		48			(85,981	)
Effect of exchange rate changes on cash and cash equivalents		—		—			(90	)		—			(90	)
Net increase in cash and cash equivalents		—		1,011			14,599			—			15,610
Cash and cash equivalents at beginning of period		—		2,719			7,698			—			10,417
Cash and cash equivalents at end of period	$	—	$	3,730		$	22,297		$	—		$	26,027

	Year Ended December 31, 2015
(in thousands)	Apergy Corporation		Subsidiary guarantors			Subsidiary non- guarantors			Adjustments and eliminations			Total
Cash provided (required) by operating activities	$	—	$	137,352		$	79,817		$	(1,498	)	$	215,671
Cash provided (required) by investing activities:
Additions to property, plant and equipment		—		(30,750	)		(1,235	)		—			(31,985	)
Proceeds from sale of property, plant, and equipment		—		3,814			4,070			—			7,884
Additions to intangible assets		—		(10,000	)		—			—			(10,000	)
Net cash provided (required) by investing activities		—		(36,936	)		2,835			—			(34,101	)
Cash provided (required) by financing activities:
Net transfers to Parent Company and intercompany distributions		—		(108,909	)		(87,566	)		1,498			(194,977	)
Net cash provided by (required by) financing activities		—		(108,909	)		(87,566	)		1,498			(194,977	)
Effect of exchange rate changes on cash and cash equivalents		—		—			(531	)		—			(531	)
Net decrease in cash and cash equivalents		—		(8,493	)		(5,445	)		—			(13,938	)
Cash and cash equivalents at beginning of period		—		11,212			13,143			—			24,355
Cash and cash equivalents at end of period	$	—	$	2,719		$	7,698		$	—		$	10,417