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Derivatives, Hedges and Financial Instruments

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives, Hedges and Financial Instruments

9. Derivatives, Hedges and Financial Instruments

For the periods presented, the following significant instruments are accounted for on a fair value basis:

Natural Gas Contracts

Periodically, we entered into certain forward natural gas contracts, which are accounted for on a mark-to-market basis. We utilize these natural gas contracts as economic hedges for risk management purposes but are not designated as hedging instruments. At December 31, 2020, our natural gas contracts included 7.3 million MMBtu of natural gas, that extended through December 2021, but these contracts were settled during the first quarter of 2021, primarily due to the weather event discussed in Note 8. At December 31, 2022 and 2021, we had no outstanding natural gas contracts.

For 2021, we recognized a gain of $2.7 million (including a realized gain of $1.5 million). For 2020, we recognized a $1.6 million loss (none for 2022), which amount included an unrealized loss of $1.2 million attributed to natural gas contracts still held at the reporting date. The gain is classified as a reduction of cost of sales and the loss is classified as cost of sales.

Financial Instruments

At December 31, 2022 and 2021, we did not have any financial instruments with fair values materially different from their carrying amounts (which excludes issuance costs, if applicable) except for our Senior Secured Notes included in the table below. Fair value of our Senior Secured Notes is classified as a Level 2 fair value measurement. The fair value of financial instruments is not indicative of the overall fair value of our assets and liabilities since financial instruments do not include all assets, including intangibles and all liabilities.


	2022				2021
	Carrying		Estimated		Carrying		Estimated
	Amount		Fair Value		Amount		Fair Value
	(In Millions)
Senior Secured Notes (1)	$	700	$	637	$	500	$	516

Based on a quoted price of 91.00 at December 31, 2022 and 103.25 at December 31, 2021.

Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2022

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Valuation and Qualifying Accounts

Schedule II - Valuation and Qualifying Accounts

Years ended December 31, 2022, 2021, and 2020

(In Thousands)


Description (1)	Balance at Beginning of Year		Additions- Charges to (Recovery of) Costs and Expenses			Deductions- Write- offs/Costs Incurred		Balance at End of Year
Accounts receivable - allowance for doubtful accounts:
2022	$	474	$	485		$	260	$	699

2021	$	378	$	96		$	—	$	474

2020	$	261	$	141		$	24	$	378

Deferred tax assets - valuation allowance:
2022	$	46,968	$	(28,268	)	$	3,784	$	14,916

2021	$	64,655	$	(17,687	)	$	—	$	46,968

2020	$	51,589	$	13,471		$	405	$	64,655

(1)

Reduction in the consolidated balance sheet from the related assets to which the reserve applies.

Other valuation and qualifying accounts are detailed in our notes to consolidated financial statements.

Commitments and Contingencies	12 Months Ended
Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	8. Commitments and Contingencies Purchase and Sales Commitments – We have the following significant purchase and sales commitments. UAN supply agreement – During 2022, Pryor Chemical Company (“PCC”) provided notice of termination under the Urea Ammonium Nitrate Purchase Agreement with Coffeyville Resources Nitrogen Fertilizers, LLC (“CVR”), dated March 3, 2016 (as amended, the “CVR Purchase Agreement”). The termination was effective as of December 31, 2022. Under the CVR Purchase Agreement, CVR had the exclusive right to purchase substantially all of the UAN produced at the Pryor Facility. PCC did not incur any early termination penalties in connection with the termination of the CVR Purchase Agreement. PCC elected to terminate the CVR Purchase Agreement to pursue alternative marketing arrangements for the UAN it produces at the Pryor Facility. The CVR Purchase Agreement provided for a three-year term beginning June 1, 2016, with optional one-year renewals. The CVR Purchase Agreement permitted termination after May 31, 2019 (i) by CVR upon six months’ notice or (ii) by PCC upon three months’ notice or if the Pryor Facility is shut down for lack of profitability. Ammonia supply agreement – During 2022, El Dorado Chemical Company (“EDC”) received a notice of non-renewal of the Ammonia Purchase and Sale Agreement with Koch Fertilizer, dated November 2, 2015 (as amended, the “Ammonia Purchase Agreement” or the “Agreement”). Under the Agreement Koch Fertilizer agreed to purchase, with minimum purchase requirements, the ammonia that (a) will be produced at the El Dorado Facility and (b) a portion that is in excess of EDC’s needs as defined. The notice is a procedural requirement to keep the contract from automatically renewing and the parties are renegotiating the terms of the Agreement to continue supply beyond the termination date of June 30, 2023. Nitric acid supply agreement – EDC is party to an agreement with a customer to supply nitric acid. Under the agreement, EDC agreed to supply between 70,000 to 100,000 tons of nitric acid annually. The initial contract term began in 2021 and extends through 2027 but includes automatic one-year renewal terms unless terminated by either party in writing 180 days before the current contract expiration date. Settlements and Outstanding Natural Gas Purchase Commitments – During several days in February 2021, the Pryor Facility was taken out of service after extreme cold weather caused a surge in natural gas prices in the region, along with the curtailment of gas distribution by the operator of the pipeline that supplies natural gas to the facility. Also, as a result of unprecedented cold weather conditions, the primary natural gas supplier to our El Dorado Facility asserted a claim of force majeure and materially restricted the supply of gas to the facility. In order to mitigate a portion of the commodity price risk associated with natural gas, we periodically enter into natural gas forward contracts and volume purchase commitments that locked in the cost of certain volumes of natural gas. Prior to this weather event, we had both types of arrangements. During 2021, as a result of the extreme conditions previously described, we settled all of our natural gas forward contracts and certain volume purchase commitments at that time and recognized a realized gain of approximately $6.8 million, which includes the realized gain discussed under “Natural Gas Contracts” in Note 9 and was classified as a reduction to cost of sales. At December 31, 2022 certain of our natural gas contracts qualify as normal purchases under GAAP and thus are not mark-to-market, which contracts included volume purchase commitments with fixed costs of approximately 8.1 million MMBtus of natural gas. These contracts extend through December 2023 at a weighted-average cost of $6.25 per MMBtu ($50.8 million) and a weighted-average market value of $4.19 per MMBtu ($34.0 million). In addition, we had standby letters of credit outstanding of approximately $0.9 million at December 31, 2022. Wastewater Pipeline Operating Agreement – EDC is party to an operating agreement for the right to use a pipeline to dispose its wastewater. EDC is contractually obligated to pay a portion of the operating costs of the pipeline, as incurred, which portion is estimated to be $60,000 to $90,000 annually. The initial term of the operating agreement is through December 2053. Performance and Payment Bonds – We are contingently liable to sureties in respect of certain insurance bonds issued by the sureties in connection with certain contracts entered into by certain subsidiaries in the normal course of business. These insurance bonds primarily represent guarantees of future performance of our subsidiaries. As of December 31, 2022, we have agreed to indemnify the sureties for payments, up to $9.7 million, made by them in respect of such bonds. All of these insurance bonds are expected to expire or be renewed in 2023. Employment and Severance Agreements - We have employment and severance agreements with several of our officers. The agreements, as amended, provide for annual base salaries, bonuses and other benefits commonly found in such agreements. In the event of termination of employment due to a change in control (as defined in the agreements), the agreements provide for payments aggregating $10.8 million at December 31, 2022. Also see Note 13-Related Party Transactions. Legal Matters - Following is a summary of certain legal matters involving the Company: A. Environmental Matters Our facilities and operations are subject to numerous federal, state and local environmental laws and to other laws regarding health and safety matters (collectively, the “Environmental and Health Laws”), many of which provide for certain performance obligations, substantial fines and criminal sanctions for violations. Certain Environmental and Health Laws impose strict liability as well as joint and several liability for costs required to remediate and restore sites where hazardous substances, hydrocarbons or solid wastes have been stored or released. We may be required to remediate contaminated properties currently or formerly owned or operated by us or facilities of third parties that received waste generated by our operations regardless of whether such contamination resulted from the conduct of others or from consequences of our own actions that were in compliance with all applicable laws at the time those actions were taken. In addition, claims for damages to persons or property, including natural resources, may result from the environmental, health and safety effects of our operations. There can be no assurance that we will not incur material costs or liabilities in complying with such laws or in paying fines or penalties for violation of such laws. Our insurance may not cover all environmental risks and costs or may not provide sufficient coverage if an environmental claim is made against us. The Environmental and Health Laws and related enforcement policies have in the past resulted and could in the future result, in significant compliance expenses, cleanup costs (for our sites or third-party sites where our wastes were disposed of), penalties or other liabilities relating to the handling, manufacture, use, emission, discharge or disposal of hazardous or toxic materials at or from our facilities or the use or disposal of certain of its chemical products. Further, a number of our facilities are dependent on environmental permits to operate, the loss or modification of which could have a material adverse effect on their operations and our financial condition. Historically, significant capital expenditures have been incurred by our subsidiaries in order to comply with the Environmental and Health Laws and significant capital expenditures are expected to be incurred in the future. We will also be obligated to manage certain discharge water outlets and monitor groundwater contaminants at our facilities should we discontinue the operations of a facility. As of December 31, 2022, our accrued liabilities for environmental matters totaled approximately $0.5 million relating primarily to the matters discussed below. Estimates of the most likely costs for our environmental matters are generally based on preliminary or completed assessment studies, preliminary results of studies, or our experience with other similar matters. It is reasonably possible that a change in the estimate of our liability could occur in the near term. 1. Discharge Water Matters Each of our manufacturing facilities generates process wastewater, which may include cooling tower and boiler water quality control streams, contact storm water and miscellaneous spills and leaks from process equipment. The process water discharge, storm-water runoff and miscellaneous spills and leaks are governed by various permits generally issued by the respective state environmental agencies as authorized and overseen by the U.S. Environmental Protection Agency. These permits limit the type and volume of effluents that can be discharged and control the method of such discharge. In 2017, the PCC filed a Permit Renewal Application for its Non-Hazardous Injection Well Permit at the Pryor Facility. Although the Injection Well Permit expired in 2018, PCC continues to operate the injection well pending the Oklahoma Department of Environmental Quality (“ODEQ”) action on the Permit Renewal Application. Since that time, PCC and ODEQ engaged in ongoing discussions related to the renewal of the injection well to address the wastewater stream. In 2022, ODEQ responded to the application in the form of an information request. PCC has submitted a formal response to the information request and is currently evaluating wastewater treatment alternatives. In 2006, the El Dorado Facility entered into a Consent Administrative Order (“CAO”) that recognizes the presence of nitrate contamination in the shallow groundwater. The CAO required EDC to perform semi-annual groundwater monitoring, continue operation of a groundwater recovery system, submit a human health and ecological risk assessment and submit a remedial action plan. The risk assessment was submitted in 2007. In 2015, the Arkansas Department of Environmental Quality (“ADEQ”) stated that El Dorado Chemical was meeting the requirements of the CAO and should continue semi-annual monitoring. A CAO was signed in 2018, which required an Evaluation Report of the data and effectiveness of the groundwater remedy for nitrate contamination. During 2019, the Evaluation Report was submitted to the ADEQ and the ADEQ approved the report. No liability has been established as of December 31, 2022, in connection with this ADEQ matter. 2. Other Environmental Matters In 2002, certain of our subsidiaries sold substantially all of their operating assets relating to a Kansas chemical facility (the “Hallowell Facility”) but retained ownership of the real property where the facility is located. Our subsidiary retained the obligation to be responsible for and perform the activities under, a previously executed consent order to investigate the surface and subsurface contamination at the real property, develop a corrective action strategy based on the investigation and implement such strategy. In addition, certain of our subsidiaries agreed to indemnify the buyer of such assets for these environmental matters. As the successor to a prior owner of the Hallowell Facility, Chevron Environmental Management Company (“Chevron”) has agreed in writing, within certain limitations, to pay and has been paying one-half of the costs of the investigation and interim measures relating to this matter as approved by the Kansas Department of Health and Environment (the “KDHE”), subject to reallocation. During this process, our subsidiary and Chevron retained an environmental consultant that prepared and performed a corrective action study work plan as to the appropriate method to remediate the Hallowell Facility. During 2020, the KDHE selected a remedy of annual monitoring and the implementation of an Environmental Use Control (“EUC”). This remedy primarily relates to long-term surface and groundwater monitoring to track the natural decline in contamination and is subject to a 5-year re-evaluation with the KDHE. The final remedy, including the EUC, the finalization of the cost estimates and any required financial assurances remains under discussion with the KDHE. Pending the results from our discussions regarding the final remedy, we continue to accrue our allocable portion of costs primarily for the additional testing, monitoring and risk assessments that could be reasonably estimated, which amount is included in our accrued liabilities for environmental matters discussed above. The estimated amount is not discounted to its present value. As more information becomes available, our estimated accrual will be refined, as necessary. B. Other Pending, Threatened or Settled Litigation In 2013, an explosion and fire occurred at the West Fertilizer Co. (“West Fertilizer”) located in West, Texas, causing death, bodily injury and substantial property damage. West Fertilizer is not owned or controlled by us, but West Fertilizer was a customer of EDC and purchased AN from EDC from time to time. LSB and EDC received letters from counsel purporting to represent subrogated insurance carriers, personal injury claimants and persons who suffered property damages informing LSB and EDC that their clients are conducting investigations into the cause of the explosion and fire to determine, among other things, whether AN manufactured by EDC and supplied to West Fertilizer was stored at West Fertilizer at the time of the explosion and, if so, whether such AN may have been one of the contributing factors of the explosion. Initial lawsuits filed named West Fertilizer and another supplier of AN as defendants. In 2014, EDC and LSB were named as defendants, together with other AN manufacturers and brokers that arranged the transport and delivery of AN to West Fertilizer, in the case styled City of West, Texas vs. CF Industries, Inc., et al., in the District Court of McLennan County, Texas. The plaintiffs allege, among other things, that LSB and EDC were negligent in the production and marketing of fertilizer products sold to West Fertilizer, resulting in death, personal injury and property damage. EDC retained a firm specializing in cause and origin investigations with particular experience with fertilizer facilities, to assist EDC in its own investigation. LSB and EDC placed its liability insurance carrier on notice and the carrier is handling the defense for LSB and EDC concerning this matter. Our product liability insurance policies have aggregate limits of general liability totaling $100 million, with a self-insured retention of $250,000, which retention limit has been met relating to the West Fertilizer matter. In August 2015, the trial court dismissed plaintiff’s negligence claims against us and EDC based on a duty to inspect but allowed the plaintiffs to proceed on claims for design defect and failure to warn. Subsequently, we and EDC have entered into confidential settlement agreements (with approval of our insurance carriers) with several plaintiffs that had claimed wrongful death and bodily injury and insurance companies asserting subrogation claims for damages from the explosion. While these settlements resolve the claims of a number of the claimants in this matter, we continue to be party to litigation related to the explosion. We continue to defend these lawsuits vigorously and we are unable to estimate a possible range of loss at this time if there is an adverse outcome in this matter. As of December 31, 2022, no liability reserve has been established in connection with this matter. In 2015, we and EDA received formal written notice from Global Industrial, Inc. (“Global”) of Global’s intention to assert mechanic liens for labor, service, or materials furnished under certain subcontract agreements for the improvement of the new ammonia plant (“Ammonia Plant”) at our El Dorado Facility. Global was a subcontractor of Leidos Constructors, LLC (“Leidos”), the general contractor for EDA for the construction for the Ammonia Plant. Leidos terminated the services of Global with respect to their work performed at our El Dorado Facility. LSB and EDA are pursuing the recovery of any damage or loss caused by Global’s work performed through their contract with Leidos at our El Dorado Facility. In March 2016, EDC and LSB were served a summons in a case styled Global Industrial, Inc. d/b/a Global Turnaround vs. Leidos Constructors, LLC et al., in the Circuit court of Union County, Arkansas, wherein Global sought damages under breach of contract and other claims. At the time of the summons, our accounts payable included invoices totaling approximately $3.5 million related to the claims asserted by Global, but such invoices were not approved by Leidos for payment. We have requested indemnification from Leidos under the terms of our contracts, which they have denied. As a result, we are seeking reimbursement of legal expenses from Leidos under our contracts. We also seek damages from Leidos for their wrongdoing during the expansion, including breach of contract, fraud, professional negligence and gross negligence. During 2018, the court bifurcated the case into: (1) Global’s claims against Leidos and LSB and (2) the cross-claims between Leidos and LSB. Part (1) of the case was tried in the court. In March 2020, the court rendered an interim judgment and issued its final judgment in April 2020. In summary, the judgment awarded Global (i) approximately $7.4 million (including the $3.5 million discussed above) for labor, service and materials furnished relating to the Ammonia Plant, (ii) approximately $1.3 million for prejudgment interest and (iii) a claim of lien on certain property and the foreclosure of the lien to satisfy these obligations. In addition, post-judgment interest will accrue at the annual rate of 4.25% until paid. This judgement was accrued for at the time of the ruling, and we continue to accrue post-judgement interest. We have filed a notice of intent to appeal and the court entered a stay of the judgment pending appeal. LSB intends to vigorously prosecute its claims against Leidos and vigorously contest the cross-claims in Part (2) of the matter. Due to the impact from the COVID-19 pandemic, the trial date for Part (2) of the matter has been delayed and we are awaiting a new trial date. No liability was established at December 31, 2022 or December 31, 2021, in connection with the cross-claims in Part (2) of the matter, except for certain invoices held in accounts payable. We are also involved in various other claims and legal actions (including matters involving gain contingencies). It is possible that the actual future development of claims could be different from our estimates but, after consultation with legal counsel, we believe that changes in our estimates will not have a material effect on our business, financial condition, results of operations or cash flows.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

8. Commitments and Contingencies

Purchase and Sales Commitments – We have the following significant purchase and sales commitments.

UAN supply agreement – During 2022, Pryor Chemical Company (“PCC”) provided notice of termination under the Urea Ammonium Nitrate Purchase Agreement with Coffeyville Resources Nitrogen Fertilizers, LLC (“CVR”), dated March 3, 2016 (as amended, the “CVR Purchase Agreement”). The termination was effective as of December 31, 2022. Under the CVR Purchase Agreement, CVR had the exclusive right to purchase substantially all of the UAN produced at the Pryor Facility. PCC did not incur any early termination penalties in connection with the termination of the CVR Purchase Agreement. PCC elected to terminate the CVR Purchase Agreement to pursue alternative marketing arrangements for the UAN it produces at the Pryor Facility. The CVR Purchase Agreement provided for a three-year term beginning June 1, 2016, with optional one-year renewals. The CVR Purchase Agreement permitted termination after May 31, 2019 (i) by CVR upon six months’ notice or (ii) by PCC upon three months’ notice or if the Pryor Facility is shut down for lack of profitability.

Ammonia supply agreement – During 2022, El Dorado Chemical Company (“EDC”) received a notice of non-renewal of the Ammonia Purchase and Sale Agreement with Koch Fertilizer, dated November 2, 2015 (as amended, the “Ammonia Purchase Agreement” or the “Agreement”). Under the Agreement Koch Fertilizer agreed to purchase, with minimum purchase requirements, the ammonia that (a) will be produced at the El Dorado Facility and (b) a portion that is in excess of EDC’s needs as defined. The notice is a procedural requirement to keep the contract from automatically renewing and the parties are renegotiating the terms of the Agreement to continue supply beyond the termination date of June 30, 2023.

Nitric acid supply agreement – EDC is party to an agreement with a customer to supply nitric acid. Under the agreement, EDC agreed to supply between 70,000 to 100,000 tons of nitric acid annually. The initial contract term began in 2021 and extends through 2027 but includes automatic one-year renewal terms unless terminated by either party in writing 180 days before the current contract expiration date.

Settlements and Outstanding Natural Gas Purchase Commitments – During several days in February 2021, the Pryor Facility was taken out of service after extreme cold weather caused a surge in natural gas prices in the region, along with the curtailment of gas distribution by the operator of the pipeline that supplies natural gas to the facility. Also, as a result of unprecedented cold weather conditions, the primary natural gas supplier to our El Dorado Facility asserted a claim of force majeure and materially restricted the supply of gas to the facility. In order to mitigate a portion of the commodity price risk associated with natural gas, we periodically enter into natural gas forward contracts and volume purchase commitments that locked in the cost of certain volumes of natural gas. Prior to this weather event, we had both types of arrangements. During 2021, as a result of the extreme conditions previously described, we settled all of our natural gas forward contracts and certain volume purchase commitments at that time and recognized a realized gain of approximately $6.8 million, which includes the realized gain discussed under “Natural Gas Contracts” in Note 9 and was classified as a reduction to cost of sales.

At December 31, 2022 certain of our natural gas contracts qualify as normal purchases under GAAP and thus are not mark-to-market, which contracts included volume purchase commitments with fixed costs of approximately 8.1 million MMBtus of natural gas. These contracts extend through December 2023 at a weighted-average cost of $6.25 per MMBtu ($50.8 million) and a weighted-average market value of $4.19 per MMBtu ($34.0 million).

In addition, we had standby letters of credit outstanding of approximately $0.9 million at December 31, 2022.

Wastewater Pipeline Operating Agreement – EDC is party to an operating agreement for the right to use a pipeline to dispose its wastewater. EDC is contractually obligated to pay a portion of the operating costs of the pipeline, as incurred, which portion is estimated to be $60,000 to $90,000 annually. The initial term of the operating agreement is through December 2053.

Performance and Payment Bonds – We are contingently liable to sureties in respect of certain insurance bonds issued by the sureties in connection with certain contracts entered into by certain subsidiaries in the normal course of business. These insurance bonds primarily represent guarantees of future performance of our subsidiaries. As of December 31, 2022, we have agreed to indemnify the sureties for payments, up to $9.7 million, made by them in respect of such bonds. All of these insurance bonds are expected to expire or be renewed in 2023.

Employment and Severance Agreements - We have employment and severance agreements with several of our officers. The agreements, as amended, provide for annual base salaries, bonuses and other benefits commonly found in such agreements. In the event of termination of employment due to a change in control (as defined in the agreements), the agreements provide for payments aggregating $10.8 million at December 31, 2022. Also see Note 13-Related Party Transactions.

Legal Matters - Following is a summary of certain legal matters involving the Company:

A. Environmental Matters

Our facilities and operations are subject to numerous federal, state and local environmental laws and to other laws regarding health and safety matters (collectively, the “Environmental and Health Laws”), many of which provide for certain performance obligations, substantial fines and criminal sanctions for violations. Certain Environmental and Health Laws impose strict liability as well as joint and several liability for costs required to remediate and restore sites where hazardous substances, hydrocarbons or solid wastes have been stored or released. We may be required to remediate contaminated properties currently or formerly owned or operated by us or facilities of third parties that received waste generated by our operations regardless of whether such contamination resulted from the conduct of others or from consequences of our own actions that were in compliance with all applicable laws at the time those actions were taken.

In addition, claims for damages to persons or property, including natural resources, may result from the environmental, health and safety effects of our operations.

There can be no assurance that we will not incur material costs or liabilities in complying with such laws or in paying fines or penalties for violation of such laws. Our insurance may not cover all environmental risks and costs or may not provide sufficient coverage if an environmental claim is made against us. The Environmental and Health Laws and related enforcement policies have in the past resulted and could in the future result, in significant compliance expenses, cleanup costs (for our sites or third-party sites where our wastes were disposed of), penalties or other liabilities relating to the handling, manufacture, use, emission, discharge or disposal of hazardous or toxic materials at or from our facilities or the use or disposal of certain of its chemical products. Further, a number of our facilities are dependent on environmental permits to operate, the loss or modification of which could have a material adverse effect on their operations and our financial condition.

Historically, significant capital expenditures have been incurred by our subsidiaries in order to comply with the Environmental and Health Laws and significant capital expenditures are expected to be incurred in the future. We will also be obligated to manage certain discharge water outlets and monitor groundwater contaminants at our facilities should we discontinue the operations of a facility.

As of December 31, 2022, our accrued liabilities for environmental matters totaled approximately $0.5 million relating primarily to the matters discussed below. Estimates of the most likely costs for our environmental matters are generally based on preliminary or completed assessment studies, preliminary results of studies, or our experience with other similar matters. It is reasonably possible that a change in the estimate of our liability could occur in the near term.

1. Discharge Water Matters

Each of our manufacturing facilities generates process wastewater, which may include cooling tower and boiler water quality control streams, contact storm water and miscellaneous spills and leaks from process equipment. The process water discharge, storm-water runoff and miscellaneous spills and leaks are governed by various permits generally issued by the respective state environmental agencies as authorized and overseen by the U.S. Environmental Protection Agency. These permits limit the type and volume of effluents that can be discharged and control the method of such discharge.

In 2017, the PCC filed a Permit Renewal Application for its Non-Hazardous Injection Well Permit at the Pryor Facility. Although the Injection Well Permit expired in 2018, PCC continues to operate the injection well pending the Oklahoma Department of Environmental Quality (“ODEQ”) action on the Permit Renewal Application. Since that time, PCC and ODEQ engaged in ongoing discussions related to the renewal of the injection well to address the wastewater stream. In 2022, ODEQ responded to the application in the form of an information request. PCC has submitted a formal response to the information request and is currently evaluating wastewater treatment alternatives.

In 2006, the El Dorado Facility entered into a Consent Administrative Order (“CAO”) that recognizes the presence of nitrate contamination in the shallow groundwater. The CAO required EDC to perform semi-annual groundwater monitoring, continue operation of a groundwater recovery system, submit a human health and ecological risk assessment and submit a remedial action plan.

The risk assessment was submitted in 2007. In 2015, the Arkansas Department of Environmental Quality (“ADEQ”) stated that El Dorado Chemical was meeting the requirements of the CAO and should continue semi-annual monitoring. A CAO was signed in 2018, which required an Evaluation Report of the data and effectiveness of the groundwater remedy for nitrate contamination. During 2019, the Evaluation Report was submitted to the ADEQ and the ADEQ approved the report. No liability has been established as of December 31, 2022, in connection with this ADEQ matter.

2. Other Environmental Matters

In 2002, certain of our subsidiaries sold substantially all of their operating assets relating to a Kansas chemical facility (the “Hallowell Facility”) but retained ownership of the real property where the facility is located. Our subsidiary retained the obligation to be responsible for and perform the activities under, a previously executed consent order to investigate the surface and subsurface contamination at the real property, develop a corrective action strategy based on the investigation and implement such strategy. In addition, certain of our subsidiaries agreed to indemnify the buyer of such assets for these environmental matters.

As the successor to a prior owner of the Hallowell Facility, Chevron Environmental Management Company (“Chevron”) has agreed in writing, within certain limitations, to pay and has been paying one-half of the costs of the investigation and interim measures relating to this matter as approved by the Kansas Department of Health and Environment (the “KDHE”), subject to reallocation.

During this process, our subsidiary and Chevron retained an environmental consultant that prepared and performed a corrective action study work plan as to the appropriate method to remediate the Hallowell Facility. During 2020, the KDHE selected a remedy of annual monitoring and the implementation of an Environmental Use Control (“EUC”). This remedy primarily relates to long-term surface and groundwater monitoring to track the natural decline in contamination and is subject to a 5-year re-evaluation with the KDHE.

The final remedy, including the EUC, the finalization of the cost estimates and any required financial assurances remains under discussion with the KDHE. Pending the results from our discussions regarding the final remedy, we continue to accrue our allocable portion of costs primarily for the additional testing, monitoring and risk assessments that could be reasonably estimated, which amount is included in our accrued liabilities for environmental matters discussed above. The estimated amount is not discounted to its present value. As more information becomes available, our estimated accrual will be refined, as necessary.

B. Other Pending, Threatened or Settled Litigation

In 2013, an explosion and fire occurred at the West Fertilizer Co. (“West Fertilizer”) located in West, Texas, causing death, bodily injury and substantial property damage. West Fertilizer is not owned or controlled by us, but West Fertilizer was a customer of EDC and purchased AN from EDC from time to time. LSB and EDC received letters from counsel purporting to represent subrogated insurance carriers, personal injury claimants and persons who suffered property damages informing LSB and EDC that their clients are conducting investigations into the cause of the explosion and fire to determine, among other things, whether AN manufactured by EDC and supplied to West Fertilizer was stored at West Fertilizer at the time of the explosion and, if so, whether such AN may have been one of the contributing factors of the explosion. Initial lawsuits filed named West Fertilizer and another supplier of AN as defendants.

In 2014, EDC and LSB were named as defendants, together with other AN manufacturers and brokers that arranged the transport and delivery of AN to West Fertilizer, in the case styled City of West, Texas vs. CF Industries, Inc., et al., in the District Court of McLennan County, Texas. The plaintiffs allege, among other things, that LSB and EDC were negligent in the production and marketing of fertilizer products sold to West Fertilizer, resulting in death, personal injury and property damage. EDC retained a firm specializing in cause and origin investigations with particular experience with fertilizer facilities, to assist EDC in its own investigation. LSB and EDC placed its liability insurance carrier on notice and the carrier is handling the defense for LSB and EDC concerning this matter.

Our product liability insurance policies have aggregate limits of general liability totaling $100 million, with a self-insured retention of $250,000, which retention limit has been met relating to the West Fertilizer matter. In August 2015, the trial court dismissed plaintiff’s negligence claims against us and EDC based on a duty to inspect but allowed the plaintiffs to proceed on claims for design defect and failure to warn.

Subsequently, we and EDC have entered into confidential settlement agreements (with approval of our insurance carriers) with several plaintiffs that had claimed wrongful death and bodily injury and insurance companies asserting subrogation claims for damages from the explosion. While these settlements resolve the claims of a number of the claimants in this matter, we continue to be party to litigation related to the explosion. We continue to defend these lawsuits vigorously and we are unable to estimate a possible range of loss at this time if there is an adverse outcome in this matter. As of December 31, 2022, no liability reserve has been established in connection with this matter.

In 2015, we and EDA received formal written notice from Global Industrial, Inc. (“Global”) of Global’s intention to assert mechanic liens for labor, service, or materials furnished under certain subcontract agreements for the improvement of the new ammonia plant (“Ammonia Plant”) at our El Dorado Facility. Global was a subcontractor of Leidos Constructors, LLC (“Leidos”), the general contractor for EDA for the construction for the Ammonia Plant. Leidos terminated the services of Global with respect to their work performed at our El Dorado Facility.

LSB and EDA are pursuing the recovery of any damage or loss caused by Global’s work performed through their contract with Leidos at our El Dorado Facility. In March 2016, EDC and LSB were served a summons in a case styled Global Industrial, Inc. d/b/a Global Turnaround vs. Leidos Constructors, LLC et al., in the Circuit court of Union County, Arkansas, wherein Global sought damages under breach of contract and other claims. At the time of the summons, our accounts payable included invoices totaling approximately $3.5

million related to the claims asserted by Global, but such invoices were not approved by Leidos for payment. We have requested indemnification from Leidos under the terms of our contracts, which they have denied. As a result, we are seeking reimbursement of legal expenses from Leidos under our contracts. We also seek damages from Leidos for their wrongdoing during the expansion, including breach of contract, fraud, professional negligence and gross negligence.

During 2018, the court bifurcated the case into: (1) Global’s claims against Leidos and LSB and (2) the cross-claims between Leidos and LSB. Part (1) of the case was tried in the court. In March 2020, the court rendered an interim judgment and issued its final judgment in April 2020. In summary, the judgment awarded Global (i) approximately $7.4 million (including the $3.5 million discussed above) for labor, service and materials furnished relating to the Ammonia Plant, (ii) approximately $1.3 million for prejudgment interest and (iii) a claim of lien on certain property and the foreclosure of the lien to satisfy these obligations. In addition, post-judgment interest will accrue at the annual rate of 4.25% until paid. This judgement was accrued for at the time of the ruling, and we continue to accrue post-judgement interest.

We have filed a notice of intent to appeal and the court entered a stay of the judgment pending appeal. LSB intends to vigorously prosecute its claims against Leidos and vigorously contest the cross-claims in Part (2) of the matter. Due to the impact from the COVID-19 pandemic, the trial date for Part (2) of the matter has been delayed and we are awaiting a new trial date.

No liability was established at December 31, 2022 or December 31, 2021, in connection with the cross-claims in Part (2) of the matter, except for certain invoices held in accounts payable. We are also involved in various other claims and legal actions (including matters involving gain contingencies). It is possible that the actual future development of claims could be different from our estimates but, after consultation with legal counsel, we believe that changes in our estimates will not have a material effect on our business, financial condition, results of operations or cash flows.

Accrued and Other Liabilities

12 Months Ended

Dec. 31, 2022

Other Liabilities Disclosure [Abstract]

Accrued and Other Liabilities

4. Accrued and Other Liabilities


	December 31,
	2022		2021
	(In Thousands)
Accrued payroll and benefits	$	12,440	$	9,794
Accrued interest		11,196		8,397
Current portion of operating lease liabilities		7,259		7,755
Other		8,097		10,385
		38,992		36,331
Less noncurrent portion		522		3,030
Current portion of accrued and other liabilities	$	38,470	$	33,301

Employee Savings and Stock Purchase Plans, Collective Bargaining Agreements and Executive Benefit Agreement - Executive Benefit Agreements (Detail) $ in Thousands	Dec. 31, 2021 USD ($)
Compensation Related Costs [Abstract]
Total undiscounted death benefit	$ 2,500
Total accrued death benefit	$ 2,514

Long-Term Debt

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Long-Term Debt

6. Long-Term Debt


	December 31,
	2022			2021
	(In Thousands)
Working Capital Revolver Loan, with a current interest rate of 8.00% (A)	$	—		$	—
Senior Secured Notes due 2028 (B)		700,000			500,000
Secured Financing due 2023, with an interest rate of 8.32% (C)		4,161			7,712
Secured Financing Agreement due 2025, with an interest rate of 8.75% (D)		19,277			23,987
Secured Loan Agreement due 2025 (E)		—			5,328
Other		1,138			339
Unamortized debt issuance costs		(12,321	)		(9,722	)
		712,255			527,644
Less current portion of long-term debt (F)		9,522			9,454
Long-term debt due after one year, net (F)	$	702,733		$	518,190

(A) Our revolving credit facility, as amended (the “Working Capital Revolver Loan”), provides for advances up to $65 million (the “Maximum Revolver Amount”), based on specific percentages of eligible accounts receivable and inventories and up to $10 million of letters of credit, the outstanding amount of which reduces the available for borrowing under the Working Capital Revolver Loan. At December 31, 2022, our available borrowings under our Working Capital Revolver Loan were approximately $64.1 million, based on our eligible collateral, less outstanding letters of credit and loan balance. The maturity date of the Working Capital Revolver Loan is on the earlier of (i) the date that is 90 days prior to the earliest stated maturity date of the Senior Secured Notes (unless refinanced or repaid) and (ii) February 26, 2024. Subject to certain conditions and subject to lender approval, the Maximum Revolver Amount may increase up to an additional $10 million. The Working Capital Revolver Loan also provides for a springing financial covenant (the “Financial Covenant”), which requires that, if the borrowing availability is less than 10.0% of the total revolver commitments, then the borrowers must maintain a minimum fixed charge coverage ratio of not less than 1.00 to 1.00. The Financial Covenant, if triggered, is tested monthly.

Interest accrues on outstanding borrowings under the Working Capital Revolver Loan at a rate equal to, at our election, either (a) LIBOR for an interest period selected by us plus an applicable margin equal to 1.50% per annum or 1.75% per annum, depending on borrowing availability under the Working Capital Revolver Loan, or (b) Wells Fargo Capital Finance’s prime rate plus an applicable margin equal to 0.50% per annum or 0.75% per annum, depending on borrowing availability under the Working Capital Revolver Loan. Interest is paid quarterly, if applicable.

The Working Capital Revolver Loan contains customary covenants including limitations on asset sales, liens, debt incurrence, restricted payments, investments, dividends and transactions with affiliates.

The Working Capital Revolver Loan includes customary events of default. Upon the occurrence of any event of default, the obligations under the Working Capital Revolver Loan may be accelerated and the revolver commitments may be terminated.

Obligations under the Working Capital Revolver Loan are secured by a first priority security interest in substantially all of our current assets, including accounts receivable and inventory, subject to certain customary exceptions.

(B) On October 14, 2021, LSB completed the issuance and sale of $500 million in aggregate principal amount of its 6.25% Senior Secured Notes due 2028 (the “Notes”). The New Notes were issued pursuant to an indenture, dated as of October 14, 2021 (the “Indenture”), by and among LSB, the subsidiary guarantors which includes all of our consolidated subsidiaries named therein, and Wilmington Trust, National Association, a national banking association, as trustee and collateral agent. The New Notes were issued at a price equal to 100% of their face value. Most of the proceeds from the Notes were used to redeem all of our existing Senior Secured Notes due 2023 (the "Old Notes"), to pay related transaction fees, and the remaining portion to be used for general corporate purposes. The redemption was completed by the trustee on October 29, 2021.

The Old Notes were redeemed in accordance with the contractual terms and was accounted for as an extinguishment of debt. As a result, we recognized a loss on extinguishment of debt of approximately $20.3 million in 2021, primarily consisting of the contractual redemption premium paid and the expensing of unamortized debt issuance costs associated with the Old Notes.

On March 8, 2022, LSB completed the issuance and sale of an additional $200 million aggregate principal amount of the Notes (the “New Notes”), which were issued pursuant to the Indenture (the Notes together with the New Notes, the “Senior Secured Notes”). The New Notes were issued at a price equal to 100% of their face value, plus accrued interest from October 14, 2021 to March 7, 2022.

The Senior Secured Notes mature on October 15, 2028, ranking senior in right of payment to all of our debt that is expressly subordinated in right of payment to the notes, and will rank pari passu in right of payment with all of our liabilities that are not so subordinated, including the Working Capital Revolver Loan. LSB’s obligations under the New Notes are jointly and severally guaranteed by the subsidiary guarantors named in the Indenture on a senior secured basis.

Interest on the Senior Secured Notes accrues at a rate of 6.25% per annum and is payable semi-annually in arrears on May 15 and October 15 of each year.

Pursuant to the Indenture, LSB may redeem the New Notes at its option, in whole or in part, at certain redemption prices, including a “make-whole” premium, as set forth in the Indenture but also includes redemption requirements associated with a change of control (as defined in the Indenture). The New Notes do not have any conversion features. In addition, the Indenture contains customary covenants that limit, among other things, LSB and certain of its subsidiaries’ ability to engage in certain transactions and also provides for customary events of default (subject in certain cases to customary grace and cure periods). Generally, if an event of default occurs and is continuing, the trustee or holders of at least 25% in principal amount of the then outstanding New Notes may declare the principal of and accrued but unpaid interest on all the Senior Secured Notes to be due and payable.

LSB may redeem the Senior Secured Notes at its option, in whole or in part, subject to the payment of a premium of 3.125% of the principal amount so redeemed, in the case of any optional redemption on or after October 15, 2024, a premium of 1.563% in the case of any optional redemption on or after October 15, 2025, and no premium in the case of any optional redemption on or after October 15, 2026. If LSB experiences a change of control, it must offer to purchase the Senior Secured Notes at 101% of their principal amount, plus accrued and unpaid interest, if any, to but excluding the date of purchase.

The Indenture contains covenants that limit, among other things, LSB and certain of its subsidiaries’ ability to (1) incur additional indebtedness; (2) declare or pay dividends, redeem stock or make other distributions to stockholders; (3) make other restricted payments, including investments; (4) create dividend and other payment restrictions affecting its subsidiaries; (5) create liens or use assets as security in other transactions; (6) merge or consolidate, or sell, transfer, lease or dispose of all or substantially all of our assets; and (7) enter into transactions with affiliates. Further, during any such time when the Senior Secured Notes are rated investment grade by each of Moody’s Investors Service, Inc. and Standard & Poor’s Investors Ratings Services and no Default (as defined in the Indenture) has occurred and is continuing, certain of the covenants will be suspended with respect to the Senior Secured Notes.

Obligations in respect of the Senior Secured Notes are secured by a first priority security interest in substantially all of our fixed assets, subject to certain customary exceptions.

(C) El Dorado Chemical Company (“EDC”), one of our subsidiaries, is party to a secured financing arrangement with an affiliate of Eldridge. Principal and interest are payable in 48 equal monthly installments with a final balloon payment of approximately $3 million due in June 2023.

(D) In August 2020, El Dorado Ammonia L.L.C. (“EDA”), one of our subsidiaries, entered into a $30 million secured financing arrangement with an affiliate of Eldridge. Beginning in September 2020, principal and interest are payable in 60 equal monthly installments with a final balloon payment of approximately $5 million due in August 2025. This financing arrangement is secured by an ammonia storage tank and is guaranteed by LSB.

(E) During 2022 EDC’s secured loan agreement with an affiliate of Eldridge was paid off resulting in a minimal loss on extinguishment of debt. This loan incurred interest at a rate of 8.75% and had an original maturity date of March 2025.

(F) Maturities of long-term debt for each of the five years after December 31, 2022 are as follows (in thousands):


2023	$	9,522
2024		5,838
2025		8,793
2026		173
2027		125
Thereafter		700,125
Less: Debt issuance costs		12,321
	$	712,255

Derivatives, Hedges and Financial Instruments - Summary of Financial Instruments (Details) - Senior Notes - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Carrying Amount	$ 700	$ 500
Estimated Fair Value	$ 637	$ 516

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Consolidation	Basis of Consolidation – LSB Industries, Inc. (“LSB”) and its subsidiaries (the “Company”, “we”, “us”, or “our”) are consolidated in the accompanying consolidated financial statements. LSB is a holding company with no significant operations or assets other than cash, cash equivalents, and investments in its subsidiaries. All material intercompany accounts and transactions have been eliminated. Certain prior period amounts reported in our consolidated financial statements and notes thereto have been reclassified to conform to current period presentation.
Nature of Business	Nature of Business – We are engaged in the manufacture and sale of chemical products. The chemical products we primarily manufacture, market and sell are ammonia, fertilizer grade AN (“HDAN”) and UAN for agricultural applications, high purity and commercial grade ammonia, high purity AN, sulfuric acids, concentrated, blended and regular nitric acid, mixed nitrating acids, carbon dioxide, and diesel exhaust fluid for industrial applications, and industrial grade AN (“LDAN”) and solutions for the mining industry. We manufacture and distribute our products in four facilities; three of which we own and are located in El Dorado, Arkansas (the “El Dorado Facility”); Cherokee, Alabama (the “Cherokee Facility”); and Pryor, Oklahoma (the “Pryor Facility”); and one of which we operate on behalf of Covestro LLC in Baytown, Texas (the “Baytown Facility”). Sales to customers include farmers, ranchers, fertilizer dealers and distributors primarily in the ranch land and grain production markets in the United States (“U.S.”); industrial users of acids throughout the U.S. and parts of Canada; and explosive manufacturers in the U.S. and parts of Mexico, Canada and the Caribbean.
Use of Estimates	Use of Estimates – The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Stock Repurchase Program	Stock Repurchase Program – During May 2022, our Board authorized a $50 million stock repurchase program. In August 2022, our Board authorized an increase in the size of the stock repurchase program to $100 million. In October 2022, our Board approved another expansion of the stock repurchase program, authorizing us to repurchase an additional $75 million of our outstanding common stock under the stock repurchase program. During 2022, we completed the repurchase authorizations by repurchasing approximately 13.5 million shares at an average cost of approximately $13 per share, including 9.0 million shares that were repurchased at an average cost of approximately $13 per share in connection with public offerings by LSB Funding and SBT Investors, each of which is an affiliate of Eldridge.
Increase in Authorized Shares of Common Stock and a Stock Dividend	Increase in Authorized Shares of Common Stock and a Stock Dividend – In 2021, our stockholders approved an increase the number of authorized shares of our common stock to 150 million shares of common stock. The stockholder also approved the issuance and sale of up to approximately 60.4 million shares of common stock of the Company upon the exchange of all of the outstanding shares of Series E and Series F Redeemable Preferred. The stockholder also amended the certificate of designations of the Series E Redeemable Preferred to eliminate the right to participate in connection with the declaration of a proposed common stock dividend with respect to our common stock at the time of amendment. In August 2021, our Board declared a common stock dividend (“Special Dividend”), the Special Dividend was completed in the form of a stock dividend of 0.3 shares of our common stock, for each outstanding share of common stock (excluding common stock held in the treasury and the common shares issued as part of the exchange of all of the outstanding shares of Series E and Series F Redeemable Preferred). The Special Dividend was paid through the issuance of approximately 9.1 million shares of common stock on October 8, 2021 to holders of record of common stock, including certain stock-based awards, on September 24, 2021 (the “Record Date”). Our common stock began trading on a stock dividend-adjusted basis on October 13, 2021. For financial reporting purposes, the Special Dividend was accounted for as a stock split in the form of a stock dividend. As a result, all share and per share information herein was retroactively adjusted to reflect the Special Dividend. As the result of the exchange transaction discussed above, a change of control event occurred as defined in certain equity award agreements outstanding at the time which are discussed in Note 10.
Equity Awards	Equity Awards – Equity award transactions with employees are measured based on the estimated fair value of the equity awards issued. For equity awards with service conditions that have a graded vesting period, we recognize compensation cost on a straight-line basis over the requisite service period for the entire award. Forfeitures are accounted for as they occur. We may issue new shares of common stock or may use treasury shares associated with the equity awards.
Cash and Cash Equivalents	Cash and Cash Equivalents – Investments, which consist of highly liquid investments with original maturities of three months or less, are considered cash equivalents.
Short-Term Investments	Short-Term Investments - Investments, which consist of U.S. treasury bills with an original maturity up to and less than 52 weeks, are considered short-term investments and are classified as Level 1. We intend and have the ability to hold these investments until maturity. These investments are carried at cost which approximated fair value for the period ended December 31, 2022.
Accounts Receivable	Accounts Receivable – Our accounts receivable is at net realizable value. This value includes an appropriate allowance for estimated uncollectible accounts to reflect any loss anticipated on accounts receivable balances. Our estimate is based on historical experience and periodic assessment of outstanding accounts receivable, particularly those accounts that are past due (based upon the terms of the sale). Our periodic assessment of our accounts receivable is based on our best estimate of amounts that are not recoverable. Any contract assets consist of receivables from contracts with customers. Our accounts receivable primarily relate to these contract assets and are presented in our consolidated balance sheets. Sales to our customers are generally unsecured. Credit is extended to customers based on an evaluation of the customer’s financial condition and other factors. Customer payments are generally due thirty to sixty days after the invoice date. Concentrations of credit risk with respect to trade receivables are monitored and this risk is reduced due to short-term payment terms relating to most of our significant customers. Six customers (including their affiliates) account for approximately 52% of our total net receivables at December 31, 2022.
Inventories	Inventories – Inventories are stated at the lower of cost (determined using the first-in, first-out (“FIFO”) basis) or net realizable value, which is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, transportation or disposal. Finished goods include material, labor, and manufacturing overhead costs. Inventory reserves associated with cost exceeding net realizable value were not material at December 31, 2022 and 2021.
Property, Plant and Equipment	Property, Plant and Equipment – Property, plant and equipment (“PP&E”) are stated at cost, net of accumulated depreciation amortization (“D&A”). Leases meeting finance lease criteria are capitalized in PP&E. Major renewals and improvements that increase the life, value, or productive capacity of assets are capitalized in PP&E while maintenance, repairs and minor renewals are expensed as incurred. In addition, maintenance, repairs and minor renewal costs relating to planned major maintenance activities (“Turnarounds”) are expensed as they are incurred. All long-lived assets relate to domestic operations. Fully depreciated assets are retained in PP&E and accumulated D&A accounts until disposal. When PP&E is retired, sold, or otherwise disposed, the asset’s carrying amount and related accumulated D&A is removed from the accounts and any gain or loss is included in other income or expense. For financial reporting purposes, depreciation of the costs of PP&E is computed using the straight-line method over the estimated useful lives of the assets. No provision for depreciation is made on construction in progress or capital spare parts until such time as the relevant assets are put into service. In general, assets held for sale are reported at the lower of the carrying amounts of the assets or fair values less costs to sell.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets – Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset (asset group) may not be recoverable. An asset’s fair value must be determined when the carrying amount of an asset (asset group) exceeds the estimated undiscounted future cash flows expected to result from the use of the asset (asset group) and/or its eventual disposition. If assets to be held and used are considered to be impaired, the impairment to be recognized is the amount by which the carrying amounts of the assets exceed the fair values of the assets as measured by the present value of future net cash flows expected to be generated by the assets or their appraised value. In general, and depending on the event or change in circumstances, our asset groups are reviewed for impairment on a facility-by-facility basis (such as the Cherokee, El Dorado or Pryor Facility). In addition, if the event or change in circumstance relates to the probable sale of an asset (or group of assets), the specific asset (or group of assets) is reviewed for impairment.
Leases	Leases – We determine if an arrangement is a lease at inception or modification of a contract and classify each lease as either an operating or finance lease based on the terms of the contract. We reassess lease classification subsequent to commencement upon a change to the expected lease term or a modification to the contract. A contract contains a lease if the contract conveys the right to control the use of the identified property or equipment, explicitly or implicitly, for a period of time in exchange for consideration. Control of an underlying asset is conveyed if we obtain the rights to direct the use of and obtain substantially all of the economic benefit from the use of the underlying asset. An operating lease asset represents our right to use the underlying asset as a lessee for the lease term and an operating lease liability represent our obligation to make lease payments arising from the lease. Currently, most of our leases are classified as operating leases and primarily relate to railcars, other equipment and office space. Our leases that are classified as finance leases and other leases under which we are the lessor are not material. Variable payments are excluded from the present value of lease payments and are recognized in the period in which the payment is made. Our current leases do not contain residual value guarantees. Most of our leases do not include options to extend or terminate the lease prior to the end of the term. Leases with a term of 12 months or less are not recognized in the balance sheet. Since our leases generally do not provide an implicit rate, we use our incremental borrowing rate based on the lease term and other information available at the commencement date in determining the present value of lease payments. Lease expense is recognized on a straight-line basis over the applicable lease term.
Concentration of Credit Risks for Cash and Cash Equivalents and Sales	Concentration of Credit Risks for Cash and Cash Equivalents and Sales – Financial instruments relating to cash and cash equivalents potentially subject us to concentrations of credit risk. These financial instruments were held by financial institutions within the U.S. None of the financial instruments held within U.S. were in excess of the federally insured limits. Net sales to one customer, Koch Fertilizer LLC (“Koch Fertilizer”), represented approximately 21%, 15% and 10% of our total net sales for 2022, 2021 and 2020, respectively. Net sales to one customer, Coffeyville Resources Nitrogen Fertilizer, LLC (“CVR”), represented approximately 14%, 12% and 13% of our total net sales for 2022, 2021 and 2020, respectively.
Accrued Insurance Liabilities	Accrued Insurance Liabilities – We are self-insured up to certain limits for group health and general liability claims. Above these limits, we have commercial stop-loss insurance coverage for our contractual exposure on group health claims and statutory limits under workers’ compensation obligations. We also carry umbrella insurance of $100 million for most general liability and auto liability risks. We have a separate $50 million insurance policy covering pollution liability at our chemical facilities. Additional pollution liability coverage for our other facilities is provided in our general liability and umbrella policies. Our accrued self-insurance liabilities are based on estimates of claims, which include the reported incurred claims amounts plus the reserves established by our insurance adjustors and/or estimates provided by attorneys handling the claims, if any, up to the amount of our self-insurance limits. In addition, our accrued insurance liabilities include estimates of incurred, but not reported, claims based on historical claims experience. The determination of such claims and the appropriateness of the related liability is periodically reviewed and revised, if needed. Changes in these estimated liabilities are charged to operations. Potential legal fees and other directly related costs associated with insurance claims are not accrued but rather are expensed as incurred. Accrued insurance claims are included in accrued and other liabilities. It is reasonably possible that the actual development of claims could be different than our estimates.
Executive Benefit Agreements	Executive Benefit Agreements – We are party to certain benefit agreements with certain key former executives. Costs associated with these individual benefit agreements are accrued based on the estimated remaining service period when such benefits become probable, or they will be paid. Total costs accrued equal the present value of specified payments to be made after benefits become payable.
Income Taxes	Income Taxes – Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statement of operations in the period that includes the enactment date. We establish valuation allowances if we believe it is more-likely-than-not that some or all of deferred tax assets will not be realized. Significant judgment is applied in evaluating the need for and the magnitude of appropriate valuation allowances against deferred tax assets. In addition, we do not recognize a tax benefit unless we conclude that it is more likely than not that the benefit will be sustained on audit by the relevant taxing authorities based solely on the technical merits of the associated tax position. If the recognition threshold is met, we recognize a tax benefit measured at the largest amount of the tax benefit that, in our judgment, is greater than 50% likely to be realized. We record interest related to unrecognized tax positions in interest expense and penalties in operating other expense. Income tax benefits associated with amounts that are deductible for income tax purposes are recorded through the statement of operations. These benefits are principally generated from the vesting of restricted stock. We reduce income tax expense for investment tax credits in the period the credit arises and is earned.
Contingencies	Contingencies – Certain conditions may exist which may result in a loss, but which will only be resolved when future events occur. We and our legal counsel assess such contingent liabilities, and such assessment inherently involves an exercise of judgment. If the assessment of a contingency indicates that it is probable that a loss has been incurred, we accrue for such contingent losses when such losses can be reasonably estimated. If the assessment indicates that a potentially material loss contingency is not probable but reasonably possible, or is probable but cannot be estimated, the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material, would be disclosed. Estimates of potential legal fees and other directly related costs associated with contingencies are not accrued but rather are expensed as incurred. Loss contingency liabilities are included in current and noncurrent accrued and other liabilities and are based on current estimates that may be revised in the near term. In addition, we recognize contingent gains when such gains are realized or when the contingencies have been resolved (generally at the time a settlement has been reached).
Asset Retirement Obligations	Asset Retirement Obligations – In general, we record the estimated fair value of an asset retirement obligation (“ARO”) associated with tangible long-lived assets in the period it is incurred and when there is sufficient information available to estimate the fair value. An ARO associated with long-lived assets is a legal obligation under existing or enacted law, statute, written or oral contract or legal construction. AROs, which are initially recorded based on estimated discounted cash flows, are accreted to full value over time through charges to cost of sales. In addition, we capitalize the corresponding asset retirement cost as PP&E, which cost is depreciated or depleted over the related asset’s respective useful life. We do not have any assets restricted for the purpose of settling our AROs.
Revenue Recognition and Other Information	Revenue Recognition and Other Information Revenue Recognition and Performance Obligations We determine revenue recognition through the following steps: • Identification of the performance obligations in the contract; • Determination of the transaction price; • Allocation of the transaction price to the performance obligations in the contract; and • Recognition of revenue when, or as, we satisfy a performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. Generally, satisfaction occurs when control of the promised goods is transferred to the customer or as services are rendered or completed in exchange for consideration in an amount for which we expect to be entitled. Generally, control is transferred when the preparation for shipment of the product to a customer has been completed and shipment has occurred. Most of our contracts contain a single performance obligation with the promise to transfer a specific product. Most of our revenue is recognized from performance obligations satisfied at a point in time, however, we have a performance obligation to perform certain services that are satisfied over a period of time. Revenue is recognized from this type of performance obligation as services are rendered and are based on the amount for which we have a right to invoice, which reflects the amount of expected consideration that corresponds directly with the value of the services performed. Transaction Price Constraints and Variable Consideration For most of our contracts with customers, the transaction price from the inception of a contract is constrained to a short period of time (generally one month) as these contracts contain terms with variable consideration related to both price and quantity. These contract prices are often based on commodity indexes (such as NYMEX natural gas index) published monthly and the contract quantities are typically based on estimated ranges. The quantities become fixed and determinable over a period of time as each sale order is received from the customer. The nature of our contracts also gives rise to other types of variable consideration, including volume discounts and rebates, make-whole provisions, other pricing concessions, and short-fall charges. We estimate these amounts based on the expected amount to be provided to customers, which result in a transaction price adjustment reducing revenue (net sales) with the offset increasing contract or refund liabilities. These estimates are based on historical experience, anticipated performance and our best judgment at the time. We reassess these estimates on a quarterly basis. The aforementioned constraints over transaction prices in conjunction with the variable consideration included in our material contracts prevent a practical assignment of a specific dollar amount to performance obligations at the beginning and end of the period. Therefore, we have applied the variable consideration allocation exception. Future revenues to be earned from the satisfaction of performance obligations will be recognized when control transfers as goods are loaded and weighed or services are performed over the remaining duration of our contracts. Practical Expedients and Other Information We have applied the following practical expedients and policy elections: • to recognize revenue in the amount we have the right to invoice relating to certain services that are performed for customers and, not disclosing the value of unsatisfied performance obligations related to such services. • not disclosing the value of unsatisfied performance obligations for contracts with an original expected duration of one year or less. • not adjusting the promised amount of consideration for the effects of a significant financing component if we expect the financing time period to be one year or less. • expense as incurred any incremental costs of obtaining a contract if the associated period of benefit is one year or less. • to exclude from the measurement of the transaction price all taxes assessed by a governmental authority. • to account for shipping and handling as activities to fulfill the promise to transfer the good. All net sales and long-lived assets relate to domestic operations for the periods presented. Our net sales were mainly to U.S. customers and to customers in Mexico, Canada and the Caribbean.
Recognition of Incentive Tax Credits (Other Than Credits Associated with Income Taxes)	Recognition of Incentive Tax Credits (Other Than Credits Associated with Income Taxes) – If an incentive tax credit relates to a recovery of taxes (other than income taxes) incurred, we recognize the incentive tax credit when it is probable and reasonably estimable. If an incentive tax credit relates to an amount in excess of taxes incurred, the incentive tax credit is a contingent gain, which we recognize the incentive tax credit when it is realized or when the contingencies have been resolved (generally at the time a settlement has been reached). Amounts recoverable from the taxing authorities, if any, are included in accounts receivable. The same financial statement classification is used for an incentive tax credit as the associated tax incurred. At December 31, 2022, we did not have an incentive tax credit receivable and it was minimal at December 31, 2021.
Recognition of Insurance Recoveries	Recognition of Insurance Recoveries – If an insurance claim relates to a recovery of our losses, we recognize the recovery when it is probable and reasonably estimable. If our insurance claim relates to a contingent gain, we recognize the recovery when it is realized or when the contingencies have been resolved (generally at the time a settlement has been reached). Amounts recoverable from our insurance carriers, if any, are included in accounts receivable. An insurance recovery in excess of recoverable costs relating to a business interruption claim, if any, is a reduction to cost of sales.
Cost of Sales	Cost of Sales – Cost of sales includes materials, labor and overhead costs, including depreciation, to manufacture the products sold plus inbound freight, purchasing and receiving costs, inspection costs, internal transfer costs, loading and handling costs, warehousing costs, railcar lease costs and outbound freight. Maintenance, repairs and minor renewal costs relating to Turnarounds are included in cost of sales as they are incurred. Precious metals used as a catalyst and consumed during the manufacturing process are included in cost of sales. Recoveries and gains from precious metals and business interruption insurance claims, if any, are reductions to cost of sales.
Selling, General and Administrative Expense	Selling, General and Administrative Expense – Selling, general and administrative expense (“SG&A”) includes costs associated with the sales, marketing and administrative functions. Such costs include personnel costs, including benefits, professional fees, office and occupancy costs associated with the sales, marketing and administrative functions. Also included in SG&A are any distribution fees paid to third parties to distribute our products.
Derivatives, Hedges and Financial Instruments	Derivatives, Hedges and Financial Instruments – Derivatives are recognized in the balance sheet and are measured at fair value. Changes in fair value of derivatives are recorded in results of operations unless the normal purchase or sale exceptions apply, or hedge accounting is elected. These changes in fair value are changes in assets/liabilities in operating cash flows until cash settlement when the cash flows would be classified according to their nature. The fair value amounts recognized for our derivative contracts executed with the same counterparty under a master netting arrangement may be offset. We have the choice to offset or not, but that choice must be applied consistently. A master netting arrangement exists if the reporting entity has multiple contracts with a single counterparty that are subject to a contractual agreement that provides for the net settlement of all contracts through a single payment in a single currency in the event of default on or termination of any one contract. Offsetting the fair values recognized for the derivative contracts outstanding with a single counterparty results in the net fair value of the transactions being reported as an asset or a liability in the balance sheet. When applicable, we present the fair values of our derivative contracts under master netting agreements using a gross fair value presentation. Assets and liabilities measured at fair value are classified using the following hierarchy, which is based upon the transparency of inputs to the valuation as of the measurement date: Level 1 - Valuations of contracts classified as Level 1 are based on quoted prices in active markets for identical contracts. Level 2 - Valuations of contracts classified as Level 2 are based on quoted prices for similar contracts and valuation inputs other than quoted prices that are observable for these contracts. Level 3 - Valuations of assets and liabilities classified as Level 3 are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement.
Income (Loss) per Common Share	Income (Loss) per Common Share – Net income (loss) attributable to common stockholders is computed by adjusting net income (loss) by the amount of dividends and dividend requirements (including the deemed dividend discussed above and presented in Note 2) on preferred stocks and the accretion of redeemable preferred stocks, if applicable. Basic loss per common share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding, excluding contingently issuable common shares (unvested restricted stock), if applicable. For periods we earn net income, a proportional share of net income is allocated to participating securities, if applicable, determined by dividing total weighted average participating securities by the sum of the total weighted average common shares and participating securities (the “two-class method”). Certain securities (Series E Redeemable Preferred prior to the Exchange Transaction and restricted stock units) participated in dividends declared on our common stock and were therefore considered to be participating securities. Participating securities have the effect of diluting both basic and diluted income per common share during periods of net income. For periods we incur a net loss, no loss was allocated to participating securities because they have no contractual obligation to share in our losses. Diluted loss per common share is computed after giving consideration to the dilutive effect of our potential common stock instruments that are outstanding during the period, except where such non-participating securities would be anti-dilutive.
Segment Information	Segment Information - We operate in one principal business segment – our chemical business.
Recently Adopted Accounting Pronouncements	Recently Issued Accounting Pronouncements Changes to U.S. GAAP are established by the FASB in the form of accounting standards updates (“ASUs”) to the FASB’s Accounting Standards Codification. We consider the applicability and impact of all ASUs. ASUs issued and outstanding or that became effective since January 1, 2022 through the date of these financial statements were assessed and determined not to be applicable or are expected to have minimal impact on our condensed consolidated financial position and results of operations.

Long-Term Debt - Schedule of Revolving Credit Facility and Long-Term Debt (Parenthetical) (Detail)	Dec. 31, 2022	Dec. 31, 2021
8.00% Working Capital Revolver Loan [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate	8.00%	8.00%
8.32% Secured Financing Due 2023 [Member]
Debt Instrument [Line Items]
Long-term debt, effective Interest Rate	8.32%	8.32%
8.75% Secured Financing Due 2025 [Member]
Debt Instrument [Line Items]
Long-term debt, effective Interest Rate	8.75%	8.75%

Supplemental Cash Flow Information

12 Months Ended

Dec. 31, 2022

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

14. Supplemental Cash Flow Information

The following provides additional information relating to cash flow activities:


	2022		2021			2020
	(In Thousands)
Cash payments (refunds) for:
Interest on long-term debt and other, net of capitalized interest	$	41,956	$	43,583		$	45,730
Income taxes, net	$	1,508	$	(182	)	$	(312	)

Noncash investing and financing activities:
Supplies, other assets and accounts payable and accrued liabilities associated with additions of property, plant and equipment	$	28,394	$	17,649		$	16,286
Loss on extinguishment of debt	$	113	$	—		$	—
Series E and Series F Redeemable Preferred and related dividends, accretion, and embedded derivative exchanged for common stock, net of related costs in accounts payable	$	—	$	306,690		$	37,208
Gain on extinguishment of PPP loan	$	—	$	10,000		$	—
Series B and Series D preferred converted into common stock	$	—	$	3,000		$	—

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Net income (loss)	$ 230,347	$ 43,545	$ (61,911)
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:
Deferred income taxes	36,854	(4,306)	(4,778)
Depreciation and amortization of property, plant and equipment	66,937	68,689	69,581
Amortization of intangible and other assets	1,082	1,254	1,260
Net loss on extinguishments of debt	113	10,259
Amortization of debt issuance costs, including discounts and premiums	2,073	6,067	3,807
Stock-based compensation	4,025	5,516	1,761
Loss (gain) associated with commodity contracts		(2,706)	1,613
Other	(4,638)	2,653	910
Cash provided (used) by changes in assets and liabilities:
Accounts receivable	10,197	(42,913)	(4,702)
Inventories	(14,300)	3,261	3,550
Supplies, prepaid items and other	(8,548)	(8,642)	(6,585)
Accounts payable	18,821	932	(6,561)
Other assets and other liabilities	2,691	4,018	(458)
Net cash provided (used) by operating activities	345,654	87,627	(2,513)
Cash flows from investing activities
Expenditures for property, plant and equipment	(45,833)	(35,128)	(30,471)
Proceeds from short-term investments	158,879
Purchases of short-term investments	(486,091)
Proceeds from vendor settlements associated with property, plant and equipment			1,647
Other investing activities	3,310	434	398
Net cash used by investing activities	(369,735)	(34,694)	(28,426)
Cash flows from financing activities
Proceeds from revolving debt facility		12,000	30,000
Payments on revolving debt facility		(12,000)	(30,000)
Proceeds from other long-term debt			42,570
Payments on other long-term debt	(13,750)	(10,472)	(21,356)
Payments of debt-related costs, including extinguishment costs	(4,840)	(27,254)	(124)
Proceeds from short-term financing	20,143	16,689	14,589
Payments on short-term financing	(16,725)	(17,549)	(10,941)
Payments of costs to exchange redeemable preferred stocks for common stock	(135)	(7,363)
Acquisition of treasury stock	(174,975)
Taxes paid on equity awards	(4,012)	(4,228)	(326)
Payments of dividends on non-redeemable preferred stocks		(1,876)
Net cash provided by financing activities	5,706	12,947	24,412
Net increase (decrease) in cash and cash equivalents	(18,375)	65,880	(6,527)
Cash and cash equivalents at beginning of year	82,144	16,264	22,791
Cash and cash equivalents at end of year	63,769	82,144	$ 16,264
6.25% Senior Secured Notes due 2028 [Member]
Cash flows from financing activities
Proceeds from 6.25% senior secured notes	$ 200,000	500,000
9.625% Senior Secured Notes due 2023 [Member]
Cash flows from financing activities
Payments on 9.625% senior secured notes		$ (435,000)

Quarterly Financial Data - Schedule of Quarterly Financial Information (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule Of Quarterly Financial Data [Line Items]
Gross profit (loss)	$ 92,584	$ 22,129	$ 142,924	$ 90,730	$ 78,464	$ 17,447	$ 35,008	$ 8,060	$ 348,367	$ 138,979	$ 17,048
Gain (loss) on natural gas forward contracts								2,706		2,706	(1,613)
Legal fees associated with Leidos matter	(200)	(302)	(270)	(342)	(296)	(271)	(441)	(886)
Gain (loss) on extinguishment of debt				(113)	(20,259)		10,000		(113)	(10,259)
Interest expense associated with Global judgment									(46,827)	(49,378)	(51,115)
Unrealized gain (loss) on fair value of embedded derivative						(1,106)	(716)	(436)
Benefit (provision) for income taxes	(6,897)	(780)	(20,382)	(11,115)	4,369	(19)	248	(42)	$ (39,174)	$ 4,556	$ 4,749
Cost of Sales [Member]
Schedule Of Quarterly Financial Data [Line Items]
Compensation expense due to CoC event						(1,221)
SG&A [Member]
Schedule Of Quarterly Financial Data [Line Items]
Compensation expense due to CoC event						(3,786)
Turnaround Expense
Schedule Of Quarterly Financial Data [Line Items]
Gross profit (loss)	(4,171)	(19,238)	(3,295)	(2,531)	(1,130)	(7,976)	(707)	(140)
Global Industrial Inc [Member]
Schedule Of Quarterly Financial Data [Line Items]
Interest expense associated with Global judgment	$ (80)	$ (80)	$ (79)	$ (79)	$ (80)	$ (80)	$ (79)	$ (78)

Quarterly Financial Data - Schedule of Quarterly Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Net sales	$ 233,654	$ 184,273	$ 284,803	$ 198,981	$ 190,228	$ 127,199	$ 140,696	$ 98,116	$ 901,711	$ 556,239	$ 351,316
Gross profit (loss)	92,584	22,129	142,924	90,730	78,464	17,447	35,008	8,060	348,367	138,979	17,048
Net income (loss)	65,870	2,312	103,399	58,766	42,082	(8,928)	23,670	(13,279)	230,347	43,545	(61,911)
Net income (loss) attributable to common stockholders	$ 65,870	$ 2,312	$ 103,399	$ 58,766	$ 42,009	$ (251,504)	$ 12,646	$ (23,376)	$ 230,347	$ (220,002)	$ (99,419)
Basic income per common share	$ 0.84	$ 0.03	$ 1.17	$ 0.66	$ 0.49	$ (6.39)	$ 0.34	$ (0.63)	$ 2.72	$ (4.40)	$ (2.71)
Diluted income per common share	$ 0.83	$ 0.03	$ 1.15	$ 0.65	$ 0.47	$ (6.39)	$ 0.32	$ (0.63)	$ 2.68	$ (4.40)	$ (2.71)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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-Section 50
-Paragraph 22
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI https://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

16. Leases

Information related to our leases are presented below:



	2022			2021			2020
	(Dollars In Thousands)
Components of lease expense:
Operating lease cost	$	10,692		$	9,998		$	7,611
Short-term lease cost		3,634			2,243			4,372
Other cost (1)		275			157			75
Total lease cost	$	14,601		$	12,398		$	12,058
Supplemental cash flow information related to leases:
Operating cash flows from operating leases	$	10,552		$	10,290		$	7,782
Operating cash flows from finance leases		56			33			15
Financing cash flows from finance leases		168			92			45
Cash paid for amounts included in the measurement of lease liabilities	$	10,776		$	10,415		$	7,842

Right-of-use assets obtained in exchange for new operating lease liabilities	$	4,347		$	9,549		$	17,064

Right-of-use assets obtained in exchange for new finance lease liabilities	$	932		$	—		$	318

Other lease-related information:
Weighted-average remaining lease term - operating leases (in years)		3.3			4.0			4.3
Weighted-average remaining lease term - finance leases (in years)		4.9			3.2			4.1
Weighted-average discount rate - operating leases		8.25	%		8.44	%		8.26	%
Weighted-average discount rate - finance leases		7.54	%		8.69	%		8.65	%

(1) Includes variable and finance lease costs.

At December 31, 2022, future minimum lease payments due under ASC 842 are summarized by fiscal year in the table below:


	Operating Leases			Finance Leases
	(In thousands)
2023	$	8,771		$	299
2024		7,780			275
2025		4,192			318
2026		2,650			196
2027		1,692			137
Thereafter		353			132
Total lease payments		25,438			1,357
Less imputed interest		(3,283	)		(219	)
Present value of lease liabilities	$	22,155		$	1,138

As of December 31, 2022, we have executed operating leases with lease terms greater than one year, totaling approximately $0.9 million which have not yet commenced.

Long-Term Debt - Schedule of Revolving Credit Facility and Long-Term Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Unamortized debt issuance costs	$ (12,321)	$ (9,722)
Long-term debt	712,255	527,644
Less current portion of long-term debt	9,522	9,454
Long-term debt due after one year, net	702,733	518,190
Senior Secured Notes Due 2028 [Member]
Debt Instrument [Line Items]
Debt carrying amount	700,000	500,000
8.32% Secured Financing Due 2023 [Member]
Debt Instrument [Line Items]
Debt carrying amount	4,161	7,712
8.75% Secured Financing Due 2025 [Member]
Debt Instrument [Line Items]
Debt carrying amount	19,277	23,987
Secured Loan Agreement Due 2025 [Member]
Debt Instrument [Line Items]
Debt carrying amount		5,328
Other [Member]
Debt Instrument [Line Items]
Debt carrying amount	$ 1,138	$ 339

Supplemental Cash Flow Information - Additional Information Relating to Cash Flow Activities (Detail) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash payments (refunds) for:
Interest on long-term debt and other, net of capitalized interest				$ 41,956	$ 43,583	$ 45,730
Income taxes, net				1,508	(182)	(312)
Noncash investing and financing activities:
Supplies, other assets and accounts payable and accrued liabilities associated with additions of property, plant and equipment				28,394	17,649	16,286
Loss on extinguishment of debt	$ 113	$ 20,259	$ (10,000)	$ 113	10,259
Gain on extinguishment of PPP loan					10,000
Series E and Series F Redeemable Preferred Stock [Member]
Noncash investing and financing activities:
Series E and Series F Redeemable Preferred and related dividends, accretion, and embedded derivative exchanged for common stock, net of related costs in accounts payable					306,690	$ 37,208
Series B and Series D Preferred Stock [Member]
Noncash investing and financing activities:
Series B and Series D preferred converted into common stock					$ 3,000

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Stock Option Activities of Long-Term Incentive and Option Plans

The following information relates to our long-term incentive plans:


	December 31, 2022
	2016 Plan		2008 Plan
Maximum number of securities for issuance		5,750,000
Number of awards available to be granted (1)		2,425,376
Number of unvested restricted stock/performance-based restricted stock/restricted stock units outstanding		1,443,502		—
Number of options outstanding		—		13,000
Number of options exercisable		—		13,000

(1)

Includes 2008 and 2016 Plan shares canceled, forfeited, expired unexercised, which became available for reissuance under the 2016 Plan.

A summary of stock option activity in 2022 is presented below:


	2022
	Shares		Weighted-Average Exercise Price
Outstanding at beginning of year		13,000	$	25.66
Granted		—	$	—
Exercised		—	$	—
Forfeited or expired		—	$	—
Outstanding at end of year		13,000	$	25.66
Exercisable at end of year		13,000	$	25.66


	2022		2021		2020
Stock-based compensation expense - Cost of sales	$	—	$	—	$	106,000
Stock-based compensation expense - SG&A	$	—	$	—	$	42,000
Income tax benefit	$	—	$	—	$	(36,000	)
Total intrinsic value of options exercised during the year	$	—	$	—	$	—
Total fair value of options vested during the year	$	—	$	—	$	—
Total intrinsic value of options outstanding at end of year	$	—	$	—	$	—
Total intrinsic value of options exercisable at end of year	$	—	$	—	$	—
Total weighted-average remaining vesting period in years		—		—		—
Total weighted-average remaining contractual life period in years (options outstanding)		1.92		2.92		2.64
Total weighted-average remaining contractual life period in years (options exercisable)		1.92		2.92		2.64

Summary of Restricted Stock Activity

A summary of restricted stock activity during 2022 is presented below:


	Restricted Stock					Performance-Based Restricted Stock					Restricted Stock Units					Performance Based Restricted Stock Units
	Shares			Weighted- Average Grant Date Fair Value		Shares			Weighted- Average Grant Date Fair Value		Shares			Weighted- Average Grant Date Fair Value		Shares		Weighted- Average Grant Date Fair Value
Unvested outstanding beginning of year		948,979		$	2.78		742,264		$	2.67		209,743		$	5.04		—	$	—
Granted		—		$	—		—		$	—		264,800		$	13.15		161,922	$	13.22
Vested		(402,485	)	$	3.74		(429,625	)	$	2.65		—		$	—		—	$	—
Cancelled or forfeited		—		$	—		—		$	—		(52,096	)	$	6.73		—	$	—
Unvested outstanding end of year		546,494		$	2.72		312,639		$	2.71		422,447		$	10.50		161,922	$	10.40


	Restricted Stock
	2022 (1)			2021			2020
Shares of restricted stock granted		—			799,500			40,479
Total fair value of restricted stock granted	$	—		$	2,183,000		$	87,000
Weighted-average fair value per restricted stock granted during year	$	—		$	3.55		$	2.15
Stock-based compensation expense - Cost of sales	$	95,000		$	107,000		$	62,000
Stock-based compensation expense - SG&A	$	1,047,000		$	1,645,000		$	1,078,000
Income tax benefit	$	(269,000	)	$	(430,000	)	$	(279,000	)
Total weighted-average remaining vesting period in years		0.98		1.84				1.61
Total fair value of restricted stock vested during the year	$	4,394,000		$	2,729,000		$	578,000


	Performance-Based Restricted Stock
	2022 (1)			2021 (2)			2020 (2)
Shares of PBRS granted		—			675,532			398,134
Total fair value of PBRS granted	$	—		$	2,480,000		$	980,000
Weighted-average fair value per PBRS granted during year	$	—		$	3.09		$	2.46
Stock-based compensation expense - Cost of sales	$	70,000		$	103,000		$	-
Stock-based compensation expense - SG&A	$	670,000		$	2,938,000		$	218,000
Income tax benefit	$	(174,000	)	$	(747,000	)	$	(53,000	)
Total weighted-average remaining vesting period in years		0.91			1.56			1.57
Total fair value of PBRS vested during the year	$	4,976,000		$	6,671,000		$	—


	Restricted Stock Units
	2022			2021			2020
Shares of RSU granted		264,800			327,188			301,361
Total fair value of RSU granted	$	3,482,000		$	1,653,000		$	255,000
Weighted-average fair value per RSU granted during year	$	13.15		$	5.05		$	0.85
Stock-based compensation expense - Cost of sales	$	297,000		$	161,000		$	-
Stock-based compensation expense - SG&A	$	1,229,000		$	562,000		$	255,000
Income tax benefit	$	(359,000	)	$	(178,000	)	$	(63,000	)
Total weighted-average remaining vesting period in years		1.71			2.42			0.48
Total fair value of RSU vested during the year	$	—		$	2,209,000		$	16,000

(1)

We did not grant any restricted stock or performance based restricted stock awards during 2022.

(2)

Upon the change of control event associated with the exchange of the Series E and Series F Redeemable Preferred discussed in Note 1, during 2021 such PBRS are subject only to the time-based vesting conditions set forth in the applicable award agreement and the 2016 Plan.


	Performance-Based Restricted Stock Units
	2022
Shares of PBRSU granted		161,922
Total fair value of PBRSU granted	$	2,141,000
Weighted-average fair value per PBRSU granted during year	$	13.22
Stock-based compensation expense - Cost of sales	$	50,000
Stock-based compensation expense - SG&A	$	567,000
Income tax benefit	$	(145,000	)
Total weighted-average remaining vesting period in years		1.99
Total fair value of PBRSU vested during the year	$	—

The PBRSU grants are tied to the total stockholder return of the fair market value of our common stock (“TSR”) and fixed costs per ton of ammonia (“FC”) measured annually over a three-year period. The TSR and FC goals utilize annual target share amounts based on 1/3 of the total target award for each grant. The annual goals include payout factors for both the TSR and FC goals. The payout factors are based on the actual results. The payout factors include a minimum threshold (if not met, no shares will be banked for that specific goal) and a maximum ceiling for each of the three year periods within the grant. As a result, the number of shares earned annually could be lower or higher than the annual target PRBSU shares. The annual goals are independently earned and are not affected by the performance goals attained in the other periods. Banked shares are used in the final calculation to determine the vested shares. These awards granted require the grantee to be continuously employed through the end of the term for vesting purposes.

The estimated fair value of the FC is based on the closing price of our common stock on the day preceding the grant date. We estimate the fair value of each PBRSU TSR on the date of grant using a Monte Carlo simulation with the following assumptions:

•

the closing stock price on the day preceding the grant,

•

the prediction time horizon, the vesting term of the grant,

•

the three-year Treasury yield curve rate on the grant date,

•

the standard deviation of historical daily returns for the length of the vesting term of the grant.

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Components of Lease Expense Supplemental Cash Flow Information Related to Leases and Other Lease Related Information

Information related to our leases are presented below:



	2022			2021			2020
	(Dollars In Thousands)
Components of lease expense:
Operating lease cost	$	10,692		$	9,998		$	7,611
Short-term lease cost		3,634			2,243			4,372
Other cost (1)		275			157			75
Total lease cost	$	14,601		$	12,398		$	12,058
Supplemental cash flow information related to leases:
Operating cash flows from operating leases	$	10,552		$	10,290		$	7,782
Operating cash flows from finance leases		56			33			15
Financing cash flows from finance leases		168			92			45
Cash paid for amounts included in the measurement of lease liabilities	$	10,776		$	10,415		$	7,842

Right-of-use assets obtained in exchange for new operating lease liabilities	$	4,347		$	9,549		$	17,064

Right-of-use assets obtained in exchange for new finance lease liabilities	$	932		$	—		$	318

Other lease-related information:
Weighted-average remaining lease term - operating leases (in years)		3.3			4.0			4.3
Weighted-average remaining lease term - finance leases (in years)		4.9			3.2			4.1
Weighted-average discount rate - operating leases		8.25	%		8.44	%		8.26	%
Weighted-average discount rate - finance leases		7.54	%		8.69	%		8.65	%

(1) Includes variable and finance lease costs.

Summary of Future Minimum Lease Payments

At December 31, 2022, future minimum lease payments due under ASC 842 are summarized by fiscal year in the table below:


	Operating Leases			Finance Leases
	(In thousands)
2023	$	8,771		$	299
2024		7,780			275
2025		4,192			318
2026		2,650			196
2027		1,692			137
Thereafter		353			132
Total lease payments		25,438			1,357
Less imputed interest		(3,283	)		(219	)
Present value of lease liabilities	$	22,155		$	1,138

Summary of Significant Accounting Policies - Additional Information (Detail)		1 Months Ended		12 Months Ended
	Oct. 08, 2021 shares	Oct. 31, 2021 shares	Aug. 31, 2021	Dec. 31, 2022 USD ($) Segment Facility Customer $ / shares shares	Dec. 31, 2021 shares	Dec. 31, 2020	Oct. 31, 2022 USD ($)	Aug. 31, 2022 USD ($)	May 31, 2022 USD ($)
Equity, Class of Treasury Stock [Line Items]
Number of facilities for manufacture and distribution of products \| Facility				4
Stock repurchase program, authorized amount \| $							$ 75,000,000	$ 100,000,000	$ 50,000,000
Stock repurchase program, average cost of repurchased shares \| $ / shares				$ 13
Stock repurchase program,number of shares repurchased				13,500,000
Common stock, shares authorized				150,000,000	150,000,000
Number of customers accounted as percentage of accounts receivable \| Customer				6
Insurance coverage of general liability and auto liability risks \| $				$ 100,000,000
Insurance policy covering pollution liability \| $				$ 50,000,000
Tax benefit recognized				greater than 50%
Incentive tax credit receivable \| $				$ 0
Number of reportable segment \| Segment				1
Receivables, Net [Member] \| Customer Concentration Risk [Member] \| Customers including Affiliates
Equity, Class of Treasury Stock [Line Items]
Concentration risk, percentage				52.00%
Net Sales [Member] \| Customer Concentration Risk [Member] \| Koch Fertilizer LLC [Member]
Equity, Class of Treasury Stock [Line Items]
Concentration risk, percentage				21.00%	15.00%	10.00%
Net Sales [Member] \| Customer Concentration Risk [Member] \| Coffeyville Resources Nitrogen Fertilizers L.L.C. [Member]
Equity, Class of Treasury Stock [Line Items]
Concentration risk, percentage				14.00%	12.00%	13.00%
Special Dividend [Member]
Equity, Class of Treasury Stock [Line Items]
Special dividend payable in shares			0.3
Special dividend paid in common shares	9,100,000	9,100,000
Eldridge [Member]
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, average cost of repurchased shares \| $ / shares				$ 13
Stock repurchase program,number of shares repurchased				9,000,000.0
Maximum [Member]
Equity, Class of Treasury Stock [Line Items]
Credit sales, payment terms				60 days
Maximum [Member] \| Common Stock [Member]
Equity, Class of Treasury Stock [Line Items]
Issuance and sale of common stock upon the exchange of redeemable preferred shares					60,400,000
Minimum [Member]
Equity, Class of Treasury Stock [Line Items]
Credit sales, payment terms				30 days

Preferred Stock

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Preferred Stock

11. Preferred Stock

At December 31, 2022, we are authorized to issue an additional 250,000 shares of $100 par value preferred stock and an additional 5,000,000 shares of no-par value preferred stock. Upon issuance, our Board will determine the specific terms and conditions of such preferred stock.

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

3. Property, Plant and Equipment


	Average	December 31,
	useful lives (1)	2022		2021
		(In Thousands)
Machinery, equipment and automotive	25	$	1,283,429	$	1,244,617
Buildings and improvements	26		38,021		44,814
Land improvements	35		8,384		8,271
Furniture, fixtures and store equipment	7		2,438		1,156
Construction in progress	N/A		28,029		15,298
Capital spare parts	N/A		22,300		26,744
Land	N/A		4,567		4,567
			1,387,168		1,345,467
Less accumulated depreciation and amortization			538,507		486,987
		$	848,661	$	858,480

(1) Weighted average useful lives as of December 31, 2022.

Machinery, equipment and automotive primarily includes the categories of property and equipment and estimated useful lives as follows: processing plants and plant infrastructure (15-30 years); certain processing plant components (3-10 years); and trucks, automobiles, trailers, and other rolling stock (4-7 years).

Stockholders' Equity

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Stockholders' Equity

10. Stockholders’ Equity

2016 Long Term Incentive Plan – During 2016, our Board adopted our 2016 Long Term Incentive Plan, which plan was approved by our shareholders at our annual meeting of shareholders held on June 2, 2016. During 2021, the 2016 Long Term Incentive Plan was amended as approved by our shareholders at our annual meeting of shareholders held on May 14, 2021 (together, the “2016 Plan”). No awards may be granted under the 2016 Plan on and after the tenth anniversary of its effective date.

After the effective date of the 2016 Plan, no further awards can be granted under our 2008 Incentive Stock Plan (the “2008 Plan”). Any awards that remain outstanding under the 2008 Plan will continue to be governed by the respective plan’s terms and the terms of the specific award agreement, as applicable.

The maximum aggregate number of shares reserved and available for issuance under the 2016 Plan shall not exceed 5,750,000 shares plus any shares that become available for reissuance under the share counting provisions of the 2008 Plan following the effective date of the 2016 Plan, subject to adjustment (including additional shares relating to the Special Dividend) as permitted under the 2016 Plan. Shares subject to any award that is canceled, forfeited, expires unexercised, settled in cash in lieu of common stock or otherwise terminated without a delivery of shares to a participant will again be available for awards under the 2016 Plan to the extent allowable by law. Under the 2016 Plan, awards may be made to employees, directors and consultants (for services rendered) of LSB or our subsidiaries subject to limitations as defined by the 2016 Plan.

The 2016 Plan is administered by the compensation committee (the “Committee”) of our Board. Our Board or the Committee may amend the 2016 Plan, except that if any applicable statute, rule or regulation requires shareholder approval with respect to any amendment of the 2016 Plan, then to the extent so required, shareholder approval will be obtained. Shareholder approval will also be obtained for any amendment that would increase the number of shares stated as available for issuance under the 2016 Plan.

All share information was retroactively adjusted during 2021 to reflect the special dividend as discussed in Note 1.

The following may be granted by the Committee under the 2016 Plan:

Stock Awards, Restricted Stock, Restricted Stock Units, and Other Awards – The Committee may grant awards of restricted stock, restricted stock units, and other stock and cash-based awards, which may include the payment of stock in lieu of cash (including cash payable under other incentive or bonus programs) or the payment of cash (which may or may not be based on the price of our common stock).

Stock Appreciation Rights (“SARs”) – The Committee may grant SARs as a right in tandem with the number of shares underlying stock options granted under the 2016 Plan or on a stand-alone basis. SARs are the right to receive payment per share of the SAR exercised in stock or in cash equal to the excess of the share’s fair market value, as defined in the 2016 Plan, on the date of exercise over its fair market value on the date the SAR was granted. Exercise of a SAR issued in tandem with stock options will result in the reduction of the number of shares underlying the related stock option to the extent of the SAR exercise.

Stock Options – The Committee may grant either incentive stock options or non-qualified stock options. The Committee sets option exercise prices and terms, except that the exercise price of a stock option may be no less than 100% of the fair market value, as defined in the 2016 Plan, of the shares on the date of grant. At the time of grant, the Committee will have sole discretion in determining when stock options are exercisable and when they expire, except that the term of a stock option cannot exceed 10 years subject to certain conditions.

Stock Incentive Plans - The following information relates to our long-term incentive plans:


	December 31, 2022
	2016 Plan		2008 Plan
Maximum number of securities for issuance		5,750,000
Number of awards available to be granted (1)		2,425,376
Number of unvested restricted stock/performance-based restricted stock/restricted stock units outstanding		1,443,502		—
Number of options outstanding		—		13,000
Number of options exercisable		—		13,000

(1)

Includes 2008 and 2016 Plan shares canceled, forfeited, expired unexercised, which became available for reissuance under the 2016 Plan.

Restricted Stock and Restricted Stock Units – During the three years presented below, the Committee approved various grants under the 2016 Plan of shares of restricted stock and restricted stock units to certain executives and employees. The fair value of these grants are based on the closing price of our common stock on the day preceding the grant date. These shares have vesting provisions including vesting at the end of each one-year period at the rate of one-third per year for three years, vesting 100% at the end of three years, and

vesting 100% at the end of one year. The unvested restricted shares and restricted stock units carry dividend and voting rights. Sales of these shares are restricted prior to the date of vesting. Pursuant to the terms of the underlying agreements, unvested shares and units will immediately vest upon the occurrence of a change in control (as defined by the agreement), termination without cause or death.

During 2022, the Committee approved the grant of time-based restricted stock units ("RSU") and performance-based restricted stock units ("PBRSU") to certain executives and employees under our 2016 Plan. A portion of the time-based restricted stock unit shares will vest at the end of each one-year period at the rate of one-third per year for three years and a portion will vest 100% at the end of three years. The PBRSUs will vest on the third anniversary of the grant date subject to the achievement of certain performance metrics established by the Board as set out in the grant. Upon the third anniversary the grants may be modified in a range between 0% and 200% based upon achievement of the performance goals. The unvested restricted units carry dividend and voting rights contingent upon the vesting and lapsing of restriction. Sales of these units are restricted prior to the date of vesting. Pursuant to the terms of the underlying agreements, unvested restricted units may immediately vest upon the occurrence of a change in control (as defined by agreement), termination without cause or death.

During 2021, the Committee approved the grant of shares of restricted stock and performance-based restricted stock (“PBRS”) to certain executives and the grant of shares of restricted stock units to certain employees. Pursuant to the terms of the performance-based awards outstanding as of the change of control event associated with the exchange of the Series E and Series F Redeemable Preferred discussed in Note 1, additional shares of restricted stock were issued including the satisfaction of certain performance conditions above the target performance level. Also, such restricted stock subsequent to the change of control event, are now subject only to the time-based vesting conditions set forth in the applicable award agreement and the 2016 Plan. The shares discussed above are reflected in the 2021 information below.

During the three years presented below, the Committee approved the grant of shares of RSU to our non-employee directors for payment of a portion of their director fees under the 2016 Plan. Each RSU represents a right to receive one share of our common stock following the grant date and are non-forfeitable. Vesting occurs upon the earliest to occur: (i) the director’s separation from service, (ii) the first anniversary of the grant date, or (iii) the occurrence of a change of control, as defined by the agreement. Based on terms of the RSU agreements, the grant date fair value was recognized as stock-based compensation expense (SG&A) on the grant date in each respective year. Pursuant to the terms of these RSU awards all of these RSU awards outstanding during 2021 immediately vested as a result of the change of control event associated with the exchange of the Series E and Series F Redeemable Preferred discussed in Note 1.

A summary of restricted stock activity during 2022 is presented below:


	Restricted Stock					Performance-Based Restricted Stock					Restricted Stock Units					Performance Based Restricted Stock Units
	Shares			Weighted- Average Grant Date Fair Value		Shares			Weighted- Average Grant Date Fair Value		Shares			Weighted- Average Grant Date Fair Value		Shares		Weighted- Average Grant Date Fair Value
Unvested outstanding beginning of year		948,979		$	2.78		742,264		$	2.67		209,743		$	5.04		—	$	—
Granted		—		$	—		—		$	—		264,800		$	13.15		161,922	$	13.22
Vested		(402,485	)	$	3.74		(429,625	)	$	2.65		—		$	—		—	$	—
Cancelled or forfeited		—		$	—		—		$	—		(52,096	)	$	6.73		—	$	—
Unvested outstanding end of year		546,494		$	2.72		312,639		$	2.71		422,447		$	10.50		161,922	$	10.40


	Restricted Stock
	2022 (1)			2021			2020
Shares of restricted stock granted		—			799,500			40,479
Total fair value of restricted stock granted	$	—		$	2,183,000		$	87,000
Weighted-average fair value per restricted stock granted during year	$	—		$	3.55		$	2.15
Stock-based compensation expense - Cost of sales	$	95,000		$	107,000		$	62,000
Stock-based compensation expense - SG&A	$	1,047,000		$	1,645,000		$	1,078,000
Income tax benefit	$	(269,000	)	$	(430,000	)	$	(279,000	)
Total weighted-average remaining vesting period in years		0.98		1.84				1.61
Total fair value of restricted stock vested during the year	$	4,394,000		$	2,729,000		$	578,000


	Performance-Based Restricted Stock
	2022 (1)			2021 (2)			2020 (2)
Shares of PBRS granted		—			675,532			398,134
Total fair value of PBRS granted	$	—		$	2,480,000		$	980,000
Weighted-average fair value per PBRS granted during year	$	—		$	3.09		$	2.46
Stock-based compensation expense - Cost of sales	$	70,000		$	103,000		$	-
Stock-based compensation expense - SG&A	$	670,000		$	2,938,000		$	218,000
Income tax benefit	$	(174,000	)	$	(747,000	)	$	(53,000	)
Total weighted-average remaining vesting period in years		0.91			1.56			1.57
Total fair value of PBRS vested during the year	$	4,976,000		$	6,671,000		$	—


	Restricted Stock Units
	2022			2021			2020
Shares of RSU granted		264,800			327,188			301,361
Total fair value of RSU granted	$	3,482,000		$	1,653,000		$	255,000
Weighted-average fair value per RSU granted during year	$	13.15		$	5.05		$	0.85
Stock-based compensation expense - Cost of sales	$	297,000		$	161,000		$	-
Stock-based compensation expense - SG&A	$	1,229,000		$	562,000		$	255,000
Income tax benefit	$	(359,000	)	$	(178,000	)	$	(63,000	)
Total weighted-average remaining vesting period in years		1.71			2.42			0.48
Total fair value of RSU vested during the year	$	—		$	2,209,000		$	16,000

(1)

We did not grant any restricted stock or performance based restricted stock awards during 2022.

(2)


	Performance-Based Restricted Stock Units
	2022
Shares of PBRSU granted		161,922
Total fair value of PBRSU granted	$	2,141,000
Weighted-average fair value per PBRSU granted during year	$	13.22
Stock-based compensation expense - Cost of sales	$	50,000
Stock-based compensation expense - SG&A	$	567,000
Income tax benefit	$	(145,000	)
Total weighted-average remaining vesting period in years		1.99
Total fair value of PBRSU vested during the year	$	—

•

the closing stock price on the day preceding the grant,

•

the prediction time horizon, the vesting term of the grant,

•

the three-year Treasury yield curve rate on the grant date,

•

the standard deviation of historical daily returns for the length of the vesting term of the grant.

Stock Options – No stock options have been granted under the 2016 Plan during the three years presented below. As it relates to stock options granted under the 2008 plan, the exercise price of the outstanding options granted were equal to the market value of our common stock at the date of grant and vested at the end of each one-year period at the rate of 16.5% per year for the first five years and the remaining unvested options vested at the end of the sixth year. The fair value for of the stock options granted under the 2008 Plan were estimated, using an option pricing model, as of the date of the grant, which date was also the service inception date.

A summary of stock option activity in 2022 is presented below:


	2022
	Shares		Weighted-Average Exercise Price
Outstanding at beginning of year		13,000	$	25.66
Granted		—	$	—
Exercised		—	$	—
Forfeited or expired		—	$	—
Outstanding at end of year		13,000	$	25.66
Exercisable at end of year		13,000	$	25.66


	2022		2021		2020
Stock-based compensation expense - Cost of sales	$	—	$	—	$	106,000
Stock-based compensation expense - SG&A	$	—	$	—	$	42,000
Income tax benefit	$	—	$	—	$	(36,000	)
Total intrinsic value of options exercised during the year	$	—	$	—	$	—
Total fair value of options vested during the year	$	—	$	—	$	—
Total intrinsic value of options outstanding at end of year	$	—	$	—	$	—
Total intrinsic value of options exercisable at end of year	$	—	$	—	$	—
Total weighted-average remaining vesting period in years		—		—		—
Total weighted-average remaining contractual life period in years (options outstanding)		1.92		2.92		2.64
Total weighted-average remaining contractual life period in years (options exercisable)		1.92		2.92		2.64

Stock-based Compensation Expense Not Yet Recognized – At December 31, 2022, the total stock-based compensation expense not yet recognized is $4,819,000, relating to all forms of non-vested equity awards, which we will be amortizing (subject to adjustments for actual forfeitures) through the respective remaining vesting periods through November 2025.

Reserved Shares of Common Stock – As of December 31, 2022, we have reserved 0.6 million shares of common stock issuable upon vesting of equity awards pursuant to their respective terms.

NOL Rights Agreement - On July 6, 2020, we entered into the Section 382 Rights Agreement (the “NOL Rights Agreement”), dated as of July 6, 2020, between LSB and Computershare Trust Company, N.A., as rights agent. During 2021, the NOL Rights Agreement was ratified by our shareholders at our annual meeting of shareholders held on May 14, 2021. The NOL Rights Agreement remains in effect as of December 31, 2022.

The purpose of the NOL Rights Agreement is to facilitate our ability to preserve our NOLs and other tax attributes in order to be able to offset potential future income taxes for federal income tax purposes. Our ability to use these NOLs and other tax attributes would be substantially limited if we experience an “ownership change,” as defined in Section 382 of the Internal Revenue Code of 1986, as amended (the “Code”). A company generally experiences an ownership change if the percentage of the value of its stock owned by certain 5% shareholders, as defined in Section 382 of the Code, increases by more than 50% points over a rolling three-year period. The NOL Rights Agreement is intended to reduce the likelihood of an ownership change under Section 382 of the Code by deterring any person (as defined in the NOL Rights Agreement) or group of affiliated or associated persons (“Group”) from acquiring beneficial ownership of 4.9% or more of our outstanding common shares.

The rights issued under the NOL Rights Agreement will expire on the earliest to occur of (i) the close of business on the day following the certification of the voting results of our 2021 annual meeting of stockholders, or other duly held stockholders’ meeting, (ii) the date on which our Board determines in its sole discretion that (x) the NOL Rights Agreement is no longer necessary for the preservation of material valuable NOLs or tax attributes or (y) the NOLs and tax attributes have been fully utilized and may no longer be carried forward and (iii) the close of business on July 6, 2023.

Our Board may, in its discretion, determine that a person, entity or a certain transaction is exempt from the operation of the NOL Rights Agreement or amend the terms of the rights.

This summary description of the NOL Rights Agreement does not purport to be complete and is qualified in its entirety by reference to the Rights Agreement filed as an exhibit to our Current Report on Form 8-K filed on July 6, 2020.

Stockholders' Equity - Stock Option Activities of Long-Term Incentive and Option Plans (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2016
Stockholders Equity [Line Items]
Shares outstanding at beginning of year	13,000
Shares outstanding at end of year	13,000	13,000
Shares exercisable at end of year	13,000
Outstanding at beginning of year, Weighted-Average Exercise Price	$ 25.66
Outstanding at end of year, Weighted-Average Exercise Price	25.66	$ 25.66
Exercisable at end of year, Weighted-Average Exercise Price	$ 25.66
Stock-based compensation expense - Cost of sales			$ 106,000
Stock-based compensation expense - SG&A			42,000
Income tax benefit			$ (36,000)
Total weighted-average remaining contractual life period in years (options outstanding)	1 year 11 months 1 day	2 years 11 months 1 day	2 years 7 months 20 days
Total weighted-average remaining contractual life period in years (options exercisable)	1 year 11 months 1 day	2 years 11 months 1 day	2 years 7 months 20 days
2016 Plan [Member]
Stockholders Equity [Line Items]
Granted, Shares	0	0	0
Maximum number of securities for issuance	5,750,000
Number of awards available to be granted	2,425,376			5,750,000
2016 Plan [Member] \| Restricted Stock/Performance-Based Restricted Stock/Restricted Stock Units [Member]
Stockholders Equity [Line Items]
Number of unvested restricted stock/performance-based restricted stock/restricted stock units outstanding	1,443,502
2008 Plan [Member]
Stockholders Equity [Line Items]
Shares outstanding at end of year	13,000
Shares exercisable at end of year	13,000

Employee Savings and Stock Purchase Plans, Collective Bargaining Agreements and Executive Benefit Agreement (Tables)

12 Months Ended

Dec. 31, 2022

Executive Benefit Agreement

The following table includes information about this agreement:


	December 31,
	2022		2021
	(In Thousands)
Total undiscounted death benefit	$	—	$	2,500
Total accrued death benefit	$	—	$	2,514

Life Insurance Policies

The following table summarizes certain information about these life insurance policies.


	December 31,
	2022			2021
	(In Thousands)
Total face value of life insurance policies	$	1,500		$	4,500

Total cash surrender values of life insurance policies	$	1,936		$	1,863
Loans on cash surrender values		(1,642	)		(1,642	)
Net cash surrender values	$	294		$	221

Life Insurance Premiums


	2022			2021			2020
	(In Thousands)
Cost of life insurance premiums	$	54		$	215		$	215
Increase in cash surrender values		(73	)		(69	)		(69	)
Net cost of life insurance premiums included in SG&A	$	(19	)	$	146		$	146

Net Sales (Tables)

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Summary of Net Sales Disaggregated by Principal Markets

The following table presents our net sales disaggregated by our principal markets, which disaggregation is consistent with other financial information utilized or provided outside of our consolidated financial statements:



	2022		2021		2020
	(In Thousands)
Net sales:
AN & Nitric Acid	$	315,679	$	228,754	$	150,902
Urea ammonium nitrate (UAN)		239,463		123,840		75,031
Ammonia		284,005		155,159		84,222
Other		62,564		48,486		41,161
Total net sales	$	901,711	$	556,239	$	351,316

Leases - Summary of Components of Lease Expense, Supplemental Cash Flow Information Related to Leases and Other Lease-related Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Components of lease expense:
Operating lease cost	$ 10,692	$ 9,998	$ 7,611
Short-term lease cost	3,634	2,243	4,372
Other cost	275	157	75
Total lease cost	14,601	12,398	12,058
Supplemental cash flow information related to leases:
Operating cash flows from operating leases	10,552	10,290	7,782
Operating cash flows from finance leases	56	33	15
Financing cash flows from finance leases	168	92	45
Cash paid for amounts included in the measurement of lease liabilities	10,776	10,415	7,842
Right-of-use assets obtained in exchange for new operating lease liabilities	4,347	$ 9,549	17,064
Right-of-use assets obtained in exchange for new finance lease liabilities	$ 932		$ 318
Other lease-related information:
Weighted-average remaining lease term - operating leases (in years)	3 years 3 months 18 days	4 years	4 years 3 months 18 days
Weighted-average remaining lease term - finance leases (in years)	4 years 10 months 24 days	3 years 2 months 12 days	4 years 1 month 6 days
Weighted-average discount rate - operating leases	8.25%	8.44%	8.26%
Weighted-average discount rate - finance leases	7.54%	8.69%	8.65%

Leases - Summary of Future Minimum Lease Payments (Detail) $ in Thousands	Dec. 31, 2022 USD ($)
Lessee, Operating Lease, Liability, to be Paid [Abstract]
2023	$ 8,771
2024	7,780
2025	4,192
2026	2,650
2027	1,692
Thereafter	353
Total lease payments	25,438
Less imputed interest	(3,283)
Present value of lease liabilities	22,155
Finance Lease, Liability, to be Paid [Abstract]
2023	299
2024	275
2025	318
2026	196
2027	137
Thereafter	132
Total lease payments	1,357
Less imputed interest	(219)
Present value of lease liabilities	$ 1,138
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Long-Term Debt

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Schedule of Revolving Credit Facility and Long-Term Debt


	December 31,
	2022			2021
	(In Thousands)
Working Capital Revolver Loan, with a current interest rate of 8.00% (A)	$	—		$	—
Senior Secured Notes due 2028 (B)		700,000			500,000
Secured Financing due 2023, with an interest rate of 8.32% (C)		4,161			7,712
Secured Financing Agreement due 2025, with an interest rate of 8.75% (D)		19,277			23,987
Secured Loan Agreement due 2025 (E)		—			5,328
Other		1,138			339
Unamortized debt issuance costs		(12,321	)		(9,722	)
		712,255			527,644
Less current portion of long-term debt (F)		9,522			9,454
Long-term debt due after one year, net (F)	$	702,733		$	518,190

Interest on the Senior Secured Notes accrues at a rate of 6.25% per annum and is payable semi-annually in arrears on May 15 and October 15 of each year.

Obligations in respect of the Senior Secured Notes are secured by a first priority security interest in substantially all of our fixed assets, subject to certain customary exceptions.

(F) Maturities of long-term debt for each of the five years after December 31, 2022 are as follows (in thousands):


2023	$	9,522
2024		5,838
2025		8,793
2026		173
2027		125
Thereafter		700,125
Less: Debt issuance costs		12,321
	$	712,255

Schedule of Maturities of Long-Term Debt

(F) Maturities of long-term debt for each of the five years after December 31, 2022 are as follows (in thousands):


2023	$	9,522
2024		5,838
2025		8,793
2026		173
2027		125
Thereafter		700,125
Less: Debt issuance costs		12,321
	$	712,255

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Income Taxes - Reconciliation of Beginning and Ending Amount of Uncertain Tax Positions (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Balance at beginning of year	$ 464	$ 519
Reductions for tax positions of prior years	$ (464)	(55)
Balance at end of year		$ 464

Asset Retirement Obligations

12 Months Ended

Dec. 31, 2022

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

5. Asset Retirement Obligations

We own the land on which our plants operate, limiting AROs at our owned chemical facilities. However, we have various legal requirements related to operations at our chemical facilities mainly for the disposal of wastewater generated at certain of these facilities. At December 31, 2022 and 2021, our accrued liability for AROs was $100,000. However, the facilities and some of the water related assets have an indeterminate life and as a result there is insufficient information to estimate the fair value for certain of our AROs. We will continue to review these obligations and record a liability when a reasonable estimate of the fair value can be made.

Consolidated Statements of Cash Flows (Parenthetical)	Dec. 31, 2022	Dec. 31, 2021
9.625% Senior Secured Notes due 2023 [Member]
Debt instrument, interest rate		9.625%
6.25% Senior Secured Notes due 2028 [Member]
Debt instrument, interest rate	6.25%	6.25%

Quarterly Financial Data (Tables)

12 Months Ended

Dec. 31, 2022

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

Summarized unaudited quarterly financial data for 2022 and 2021 are as follows.


	Three months ended
	March 31			June 30		September 30			December 31
	(In Thousands, Except Per Share Amounts)
2022
Net sales	$	198,981		$	284,803	$	184,273		$	233,654
Gross profit (1)	$	90,730		$	142,924	$	22,129		$	92,584
Net income (1) (2)	$	58,766		$	103,399	$	2,312		$	65,870
Net income attributable to common stockholders	$	58,766		$	103,399	$	2,312		$	65,870

Basic income per common share	$	0.66		$	1.17	$	0.03		$	0.84

Diluted income per common share	$	0.65		$	1.15	$	0.03		$	0.83



2021
Net sales	$	98,116		$	140,696	$	127,199		$	190,228
Gross profit (1)	$	8,060		$	35,008	$	17,447		$	78,464
Net income (loss) (1) (2)	$	(13,279	)	$	23,670	$	(8,928	)	$	42,082
Net income (loss) attributable to common stockholders (A)	$	(23,376	)	$	12,646	$	(251,504	)	$	42,009

Basic income (loss) per common share	$	(0.63	)	$	0.34	$	(6.39	)	$	0.49

Diluted income (loss) per common share	$	(0.63	)	$	0.32	$	(6.39	)	$	0.47

(A)

See Note 1 concerning a deemed dividend associated with an exchange transaction and special dividend, which was consummated during the third quarter of 2021.

LSB Industries, Inc.

Supplementary Financial Data

Quarterly Financial Data (Unaudited)

(1)

The following income (expense) items impacted gross profit (loss) and net income (loss):


	Three months ended
	March 31			June 30			September 30			December 31
	(In Thousands)
Turnaround expense: (A)
2022	$	(2,531	)	$	(3,295	)	$	(19,238	)	$	(4,171	)

2021	$	(140	)	$	(707	)	$	(7,976	)	$	(1,130	)

Gain (loss) on natural gas forward contracts
2021	$	2,706		$	—		$	—		$	—

Compensation expense due to CoC event
2021	$	—		$	—		$	(1,221	)	$	—

(2)

The following income (expense) items impacted net income (loss):


Legal fees associated with Leidos matter
2022	$	(342	)	$	(270	)	$	(302	)	$	(200	)

2021	$	(886	)	$	(441	)	$	(271	)	$	(296	)

Compensation expense due to CoC event
2021	$	—		$	—		$	(3,786	)	$	—

Gain (loss) on extinguishments of debt
2022	$	(113	)	$	—		$	—		$	—

2021	$	—		$	10,000		$	—		$	(20,259	)

Interest expense associated with Global judgment
2022	$	(79	)	$	(79	)	$	(80	)	$	(80	)

2021	$	(78	)	$	(79	)	$	(80	)	$	(80	)

Gain (loss) associated with embedded derivative
2021	$	(436	)	$	(716	)	$	(1,106	)	$	—

Benefit (provision) for income taxes
2022	$	(11,115	)	$	(20,382	)	$	(780	)	$	(6,897	)

2021	$	(42	)	$	248		$	(19	)	$	4,369

(A)

Turnaround expenses do not include the impact on operating results relating to lost absorption or reduced margins due to the associated plants being shut down.

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Common stock, par value	$ 0.10	$ 0.10
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	91,200,000	91,200,000
Treasury stock, common shares	14,900,000	1,400,000

Net Sales

12 Months Ended

Dec. 31, 2022

Revenue from Contract with Customer [Abstract]

Net Sales

15. Net Sales

Disaggregated Net Sales

As discussed in Note 1, we primarily derive our revenues from the sales of various chemical products. The following table presents our net sales disaggregated by our principal markets, which disaggregation is consistent with other financial information utilized or provided outside of our consolidated financial statements:



	2022		2021		2020
	(In Thousands)
Net sales:
AN & Nitric Acid	$	315,679	$	228,754	$	150,902
Urea ammonium nitrate (UAN)		239,463		123,840		75,031
Ammonia		284,005		155,159		84,222
Other		62,564		48,486		41,161
Total net sales	$	901,711	$	556,239	$	351,316

Other Information

Although most of our contracts have an original expected duration of one year or less, for our contracts with a duration greater than one year at contract inception, the average remaining expected duration was approximately 29 months at December 31, 2022.

Liabilities associated with contracts with customers (contract liabilities) primarily relate to deferred revenue and customer deposits associated with cash payments received in advance from customers for volume shortfall charges and product shipments. We had approximately $2.0 million and $1.6 million of contract liabilities as of December 31, 2022 and 2021, respectively. During 2022 and 2021, revenues of $1.5 million and $2.5 million, respectively were recognized and included in the balance at the beginning of the period.

At December 31, 2022, we have remaining performance obligations with certain customer contracts, excluding contracts with original durations of less than one year and contracts with variable consideration for which we have elected the practical expedient for consideration recognized in revenue as invoiced. The remaining performance obligations total approximately $100 million, of which approximately 63% of this amount relates to 2023 through 2025, approximately 24% relates to 2026 through 2027, with the remainder thereafter.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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-Name Accounting Standards Codification
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-Section 50
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 606
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-Subparagraph (b)(2)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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+ Details

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 1,387,168	$ 1,345,467
Less accumulated depreciation and amortization	538,507	486,987
Property, plant and equipment, net	$ 848,661	858,480
Machinery, Equipment and Automotive [Member]
Property Plant And Equipment [Line Items]
Useful lives in years	25 years
Property, plant and equipment, gross	$ 1,283,429	1,244,617
Buildings and Improvements [Member]
Property Plant And Equipment [Line Items]
Useful lives in years	26 years
Property, plant and equipment, gross	$ 38,021	44,814
Land Improvements [Member]
Property Plant And Equipment [Line Items]
Useful lives in years	35 years
Property, plant and equipment, gross	$ 8,384	8,271
Furniture, Fixtures and Store Equipment [Member]
Property Plant And Equipment [Line Items]
Useful lives in years	7 years
Property, plant and equipment, gross	$ 2,438	1,156
Construction in Progress [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	28,029	15,298
Capital Spare Parts [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	22,300	26,744
Land [Member]
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 4,567	$ 4,567

Net Income (Loss) per Common Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Net Income (Loss) per Common Share

2. Net Income (Loss) per Common Share

The following table sets forth the computation of basic and diluted net income (loss) per common share:


	2022		2021			2020
	( In Thousands, Except Per Share Amounts)
Numerator:
Net income (loss)	$	230,347	$	43,545		$	(61,911	)
Adjustments for basic and diluted net loss per common share:
Dividend requirements on Series E Redeemable Preferred		—		(29,914	)		(35,182	)
Deemed dividend on Series E and Series F Redeemable Preferred		—		(231,812	)		—
Dividend and dividend requirements on Series B Preferred		—		(239	)		(240	)
Dividend and dividend requirements on Series D Preferred		—		(59	)		(60	)
Accretion of Series E Redeemable Preferred		—		(1,523	)		(2,026	)

Numerator for basic and diluted net income (loss) per common share	$	230,347	$	(220,002	)	$	(99,419	)

Denominator:
Denominator for basic net income (loss) per common share - weighted- average shares (1)		84,753		49,963			36,664
Effect of dilutive securities:
Unvested restricted stock and stock units		1,272		—			—
Dilutive potential common shares		1,272		—			—

Denominator for diluted net income (loss) per common share - adjusted weighted-average shares (1)		86,025		49,963			36,664

Basic net income (loss) per common share	$	2.72	$	(4.40	)	$	(2.71	)

Diluted net income (loss) per common share	$	2.68	$	(4.40	)	$	(2.71	)

(1)

All periods exclude the weighted-average shares of unvested restricted stock that are contingently issuable.

The following weighted-average shares of securities were not included in the computation of diluted net loss per common share as their effect would have been antidilutive:


	2022		2021		2020
	(In Thousands)
Restricted stock and stock units		80		1,531		1,588
Stock options		13		13		138
Series E redeemable preferred stock - embedded derivative		—		—		304
Convertible preferred stocks		—		—		1,192
		93		1,544		3,222

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Loss Carryforwards [Line Items]
Gross amount of tax credits available to offset federal benefit	$ 3,400,000
Gross amount of tax credits available to offset state income taxes	$ 4,300,000
Federal net operating loss carryforwards expiration year	2036
State net operating loss carry forwards expiration year	2023
Valuation allowance reversal Change	$ 14,916,000	$ 46,968,000
Uncertain tax position	0		$ 464,000	$ 519,000
Unrecognized tax positions accrued interest or penalties	$ 0	0
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Tax carryforward period	9 years
Tax credit carryforward expiration year	2022
Operating loss carryforwards utilized current period	$ 243,000,000	56,000,000
Operating loss carryforwards	440,000,000
Valuation allowance reversal Change	19,000,000
Federal [Member]
Operating Loss Carryforwards [Line Items]
Valuation allowance reversal Change	$ 13,000,000
Internal Revenue Service (IRS) [Member]
Operating Loss Carryforwards [Line Items]
Tax carryforward period	20 years
Tax credit carryforward expiration year	2034
Gross tax credits	$ 8,100,000
Operating loss carryforwards utilized current period	240,000,000	$ 64,000,000
Operating loss carryforwards	$ 352,000,000

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2022	Feb. 17, 2023	Jun. 30, 2022
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Registrant Name	LSB INDUSTRIES, INC.
Entity Central Index Key	0000060714
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		76,129,079
Entity Public Float			$ 426
Entity Interactive Data Current	Yes
Entity File Number	1-7677
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	73-1015226
Entity Address, Address Line One	3503 NW 63rd Street
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	Oklahoma City
Entity Address, State or Province	OK
Entity Address, Postal Zip Code	73116
City Area Code	405
Local Phone Number	235-4546
Document Annual Report	true
Document Transition Report	false
Auditor Name	Ernst & Young LLP
Auditor Firm ID	42
Auditor Location	Oklahoma City, OK, United States
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the Registrant’s proxy statement for its annual meeting of stockholders will be filed with the Securities and Exchange Commission within 120 days after the end of its 2022 fiscal year, are incorporated by reference in Part III.
Common Stock [Member]
Document Information [Line Items]
Trading Symbol	LXU
Title of 12(b) Security	Common Stock, Par Value $.10
Security Exchange Name	NYSE
Preferred Stock [Member]
Document Information [Line Items]
No Trading Symbol Flag	true
Title of 12(b) Security	Preferred Stock Purchase Rights
Security Exchange Name	NYSE

Derivatives, Hedges and Financial Instruments - Additional Information (Detail) $ in Thousands, BTU in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) MMBTU BTU	Dec. 31, 2021 USD ($) MMBTU	Dec. 31, 2020 USD ($) MMBTU
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Natural gas purchase commitments volume \| BTU	8.1
Gain (loss) on sale of natural gas	$ 0	$ 2,700	$ (1,600)
Realized gain on sale of natural gas	6,800
Unrealized loss on sale of natural gas			$ (1,200)
Financial instruments with fair values	$ 0	0
Natural Gas Purchase Commitments [Member]
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Realized gain on sale of natural gas		$ 1,500
Natural Gas Purchase Commitments [Member] \| Level 2 [Member]
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Natural gas purchase commitments volume \| MMBTU	0	0	7,300,000

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Treasury Stock-Common [Member]	Preferred Stock [Member]	Capital in Excess of Par Value [Member]	Retained Earnings (Accumulated Deficit) [Member]
Balance at Dec. 31, 2019	$ 247,327	$ 3,990	$ (13,266)	$ 3,000	$ 195,971	$ 57,632
Balance, shares at Dec. 31, 2019		39,901	(2,010)
Net income (loss)	(61,911)					(61,911)
Dividend accrued on redeemable preferred stock	(35,182)					(35,182)
Accretion of redeemable preferred stock	(2,026)					(2,026)
Stock-based compensation	1,761				1,761
Other	(326)	$ 3	$ 53		(382)
Other, Shares		25	(65)
Balance at Dec. 31, 2020	149,643	$ 3,993	$ (13,213)	3,000	197,350	(41,487)
Balance, shares at Dec. 31, 2020		39,926	(2,075)
Net income (loss)	43,545					43,545
Issuance of common stock in exchange for redeemable preferred stocks	531,139	$ 4,907			526,232
Issuance of common stock in exchange for redeemable preferred stocks, shares		49,066
Deemed dividend on redeemable preferred stocks	(231,812)				(231,812)
Dividend accrued on redeemable preferred stock	(29,914)					(29,914)
Accretion of redeemable preferred stock	(1,523)					(1,523)
Dividend paid on non-redeemable preferred stock upon conversion	(1,876)					(1,876)
Conversion of non-redeemable preferred stock into common stock		$ 119		$ (3,000)	2,881
Conversion of non-redeemable preferred stock into common stock, shares		1,192
Stock-based compensation	5,516				5,516
Restricted stock granted from treasury stock	(4,228)	$ 98	$ 2,680		(7,006)
Restricted stock granted from treasury stock, shares		984	700
Balance at Dec. 31, 2021	460,490	$ 9,117	$ (10,533)		493,161	31,255
Balance, shares at Dec. 31, 2021		91,168	(1,375)
Net income (loss)	230,347					230,347
Stock-based compensation	$ 4,025				4,025
Purchase of common stock, Shares	(13,500)		(13,168)
Purchase of common stock	$ (175,083)		$ (175,083)
Other	(3,906)		$ (3,899)		(7)
Other, Shares			(345)
Balance at Dec. 31, 2022	$ 515,873	$ 9,117	$ (189,515)		$ 497,179	$ 199,092
Balance, shares at Dec. 31, 2022		91,168	(14,888)

Asset Retirement Obligations - Additional Information (Detail) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Asset Retirement Obligation Disclosure [Abstract]
Accrued liability for AROs	$ 100,000	$ 100,000

Quarterly Financial Data

12 Months Ended

Dec. 31, 2022

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data

Supplementary Information

Quarterly Financial Data (Unaudited)

Summarized unaudited quarterly financial data for 2022 and 2021 are as follows.


	Three months ended
	March 31			June 30		September 30			December 31
	(In Thousands, Except Per Share Amounts)
2022
Net sales	$	198,981		$	284,803	$	184,273		$	233,654
Gross profit (1)	$	90,730		$	142,924	$	22,129		$	92,584
Net income (1) (2)	$	58,766		$	103,399	$	2,312		$	65,870
Net income attributable to common stockholders	$	58,766		$	103,399	$	2,312		$	65,870

Basic income per common share	$	0.66		$	1.17	$	0.03		$	0.84

Diluted income per common share	$	0.65		$	1.15	$	0.03		$	0.83



2021
Net sales	$	98,116		$	140,696	$	127,199		$	190,228
Gross profit (1)	$	8,060		$	35,008	$	17,447		$	78,464
Net income (loss) (1) (2)	$	(13,279	)	$	23,670	$	(8,928	)	$	42,082
Net income (loss) attributable to common stockholders (A)	$	(23,376	)	$	12,646	$	(251,504	)	$	42,009

Basic income (loss) per common share	$	(0.63	)	$	0.34	$	(6.39	)	$	0.49

Diluted income (loss) per common share	$	(0.63	)	$	0.32	$	(6.39	)	$	0.47

(A)

See Note 1 concerning a deemed dividend associated with an exchange transaction and special dividend, which was consummated during the third quarter of 2021.

LSB Industries, Inc.

Supplementary Financial Data

Quarterly Financial Data (Unaudited)

(1)

The following income (expense) items impacted gross profit (loss) and net income (loss):


	Three months ended
	March 31			June 30			September 30			December 31
	(In Thousands)
Turnaround expense: (A)
2022	$	(2,531	)	$	(3,295	)	$	(19,238	)	$	(4,171	)

2021	$	(140	)	$	(707	)	$	(7,976	)	$	(1,130	)

Gain (loss) on natural gas forward contracts
2021	$	2,706		$	—		$	—		$	—

Compensation expense due to CoC event
2021	$	—		$	—		$	(1,221	)	$	—

(2)

The following income (expense) items impacted net income (loss):


Legal fees associated with Leidos matter
2022	$	(342	)	$	(270	)	$	(302	)	$	(200	)

2021	$	(886	)	$	(441	)	$	(271	)	$	(296	)

Compensation expense due to CoC event
2021	$	—		$	—		$	(3,786	)	$	—

Gain (loss) on extinguishments of debt
2022	$	(113	)	$	—		$	—		$	—

2021	$	—		$	10,000		$	—		$	(20,259	)

Interest expense associated with Global judgment
2022	$	(79	)	$	(79	)	$	(80	)	$	(80	)

2021	$	(78	)	$	(79	)	$	(80	)	$	(80	)

Gain (loss) associated with embedded derivative
2021	$	(436	)	$	(716	)	$	(1,106	)	$	—

Benefit (provision) for income taxes
2022	$	(11,115	)	$	(20,382	)	$	(780	)	$	(6,897	)

2021	$	(42	)	$	248		$	(19	)	$	4,369

(A)

Turnaround expenses do not include the impact on operating results relating to lost absorption or reduced margins due to the associated plants being shut down.

Commitments and Contingencies - Additional Information (Detail) BTU in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020 USD ($)	Dec. 31, 2022 USD ($) BTU Settlement $ / MMBTU T	Dec. 31, 2021 USD ($)	Mar. 31, 2016 USD ($)
Commitments And Contingencies [Line Items]
Realized gain on sale of natural gas		$ 6,800,000
Natural gas purchase commitments volume \| BTU		8.1
Weighted average cost of natural gas per unit \| $ / MMBTU		6.25
Weighted average purchase price of natural gas		$ 50,800,000
Weighted average natural gas market value per unit \| $ / MMBTU		4.19
Weighted average natural gas market value		$ 34,000,000.0
Outstanding letters of credit		900,000
Estimated share of the annual operating costs of pipeline, minimum		60,000
Estimated share of the annual operating costs of pipeline, maximum		$ 90,000
Operating agreement		The initial term of the operating agreement is through December 2053.
Indemnify the sureties for payments		$ 9,700,000
Payments under employment and severance agreements		10,800,000
Accrued liabilities for environmental matters		$ 500,000
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration]		Other Accrued Liabilities, Current, Accrued And Other Liabilities Noncurrent
Percentage of payment of investigation costs agreed by Hallowell Facility		50.00%
Insurance coverage of general liability and auto liability risks		$ 100,000,000
Product liability deductible per claim		$ 250,000
Confidential settlement agreement with family groups \| Settlement		3
Liability reserve		$ 0	$ 0
Global Industrial Inc [Member]
Commitments And Contingencies [Line Items]
Amount awarded for labor, service, materials and other	$ 7,400,000
Prejudgment Interest	$ 1,300,000
Percentage of accrue post judgement interest	4.25%
UAN Supply Agreement [Member]
Commitments And Contingencies [Line Items]
Agreement termination effective date		Dec. 31, 2022
Notice of termination		During 2022, Pryor Chemical Company (“PCC”) provided notice of termination under the Urea Ammonium Nitrate Purchase Agreement with Coffeyville Resources Nitrogen Fertilizers, LLC (“CVR”), dated March 3, 2016 (as amended, the “CVR Purchase Agreement”). The termination was effective as of December 31, 2022.
CVR Purchase Agreement [Member]
Commitments And Contingencies [Line Items]
Supply commitment, description		The CVR Purchase Agreement provided for a three-year term beginning June 1, 2016, with optional one-year renewals.
Purchase agreement terms		The CVR Purchase Agreement permitted termination after May 31, 2019 (i) by CVR upon six months’ notice or (ii) by PCC upon three months’ notice or if the Pryor Facility is shut down for lack of profitability.
Term of Renewal		1 year
Ammonia Supply Agreement [Member]
Commitments And Contingencies [Line Items]
Agreement Termination Date		Jun. 30, 2023
Supply commitment, description		the ammonia that (a) will be produced at the El Dorado Facility and (b) a portion that is in excess of EDC’s needs as defined.
Notice of termination		The notice is a procedural requirement to keep the contract from automatically renewing and the parties are renegotiating the terms of the Agreement to continue supply beyond the termination date of June 30, 2023.
Nitric Acid Supply Agreement [Member]
Commitments And Contingencies [Line Items]
Required period for notice of termination		180 days
Supply commitment, description		The initial contract term began in 2021 and extends through 2027
Term of Renewal		1 year
Nitric Acid Supply Agreement [Member] \| Minimum [Member]
Commitments And Contingencies [Line Items]
Quantity of Nitric Acid, Minimum \| T		70,000
Nitric Acid Supply Agreement [Member] \| Maximum [Member]
Commitments And Contingencies [Line Items]
Quantity of Nitric Acid, Minimum \| T		100,000
Natural Gas Purchase Commitments [Member]
Commitments And Contingencies [Line Items]
Realized gain on sale of natural gas			$ 1,500,000
Leidos Constructors, LLC [Member] \| Global Industrial Inc [Member] \| Accounts Payable [Member]
Commitments And Contingencies [Line Items]
Claim amount not approved for payment	$ 3,500,000			$ 3,500,000

Net Sales - Summary of Net Sales Disaggregated by Principal Markets (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net sales:
Net sales	$ 233,654	$ 184,273	$ 284,803	$ 198,981	$ 190,228	$ 127,199	$ 140,696	$ 98,116	$ 901,711	$ 556,239	$ 351,316
Chemical
Net sales:
Net sales									901,711	556,239	351,316
Chemical \| AN and Nitric Acid
Net sales:
Net sales									315,679	228,754	150,902
Chemical \| Urea ammonium nitrate (UAN)
Net sales:
Net sales									239,463	123,840	75,031
Chemical \| Ammonia
Net sales:
Net sales									284,005	155,159	84,222
Chemical \| Other
Net sales:
Net sales									$ 62,564	$ 48,486	$ 41,161

- Definition

+ References

+ Details

Stockholders' Equity - Additional Information (Detail) - USD ($)			12 Months Ended
	Jul. 06, 2020	Apr. 19, 2016	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2016
Stockholders Equity [Line Items]
Number of shares reserved			600,000
Ownership change description			A company generally experiences an ownership change if the percentage of the value of its stock owned by certain 5% shareholders, as defined in Section 382 of the Code, increases by more than 50% points over a rolling three-year period.
Beneficial ownership percentage	4.90%
2022 Restricted Stock [Member]
Stockholders Equity [Line Items]
Restricted stock, vesting percentage per year			33.33%
Restricted stock, vesting period			3 years
2022 Restricted Stock [Member] \| Tranche Three [Member]
Stockholders Equity [Line Items]
Restricted stock, vesting percentage			100.00%
2022 Restricted Stock [Member] \| Tranche One [Member]
Stockholders Equity [Line Items]
Restricted stock, vesting percentage			100.00%
2021 Restricted Stock [Member]
Stockholders Equity [Line Items]
Restricted stock, vesting percentage per year				33.33%
2021 Restricted Stock [Member] \| Tranche Two [Member]
Stockholders Equity [Line Items]
Restricted stock, vesting percentage				100.00%
2020 Restricted Stock [Member]
Stockholders Equity [Line Items]
Restricted stock, vesting percentage per year					33.33%
Restricted stock, vesting period			1 year
2020 Restricted Stock [Member] \| Tranche Two [Member]
Stockholders Equity [Line Items]
Restricted stock, vesting percentage					100.00%
2022 Restricted Stock Units Member
Stockholders Equity [Line Items]
Restricted stock, vesting percentage per year			33.33%
2022 Restricted Stock Units Member \| Tranche Three [Member]
Stockholders Equity [Line Items]
Restricted stock, vesting percentage			100.00%
2021 Restricted Stock Units Member
Stockholders Equity [Line Items]
Restricted stock, vesting percentage per year				33.33%
2021 Restricted Stock Units Member \| Tranche Two [Member]
Stockholders Equity [Line Items]
Restricted stock, vesting percentage				100.00%
2020 Restricted Stock Units Member
Stockholders Equity [Line Items]
Restricted stock, vesting percentage per year					33.33%
2020 Restricted Stock Units Member \| Tranche One [Member]
Stockholders Equity [Line Items]
Restricted stock, vesting percentage					100.00%
Performance Based Restricted Stock [Member]
Stockholders Equity [Line Items]
Awards granted				675,532	398,134
Performance Based Restricted Stock Units [Member]
Stockholders Equity [Line Items]
Awards granted			161,922
Restricted stock, vesting period			3 years
PBRSU grants are tied to TSR And FC measured annually over a period			3 years
Total target award percentage			33.33%
Ceiling period			3 years
Restricted Stock Units (RSUs) [Member]
Stockholders Equity [Line Items]
Awards granted			264,800	327,188	301,361
Vesting description			Vesting occurs upon the earliest to occur: (i) the director’s separation from service, (ii) the first anniversary of the grant date, or (iii) the occurrence of a change of control, as defined by the agreement.
Maximum [Member] \| Performance Based Restricted Stock Units [Member]
Stockholders Equity [Line Items]
Restricted stock units, grants percentage			200.00%
Minimum [Member] \| Performance Based Restricted Stock Units [Member]
Stockholders Equity [Line Items]
Restricted stock units, grants percentage			0.00%
2016 Plan [Member]
Stockholders Equity [Line Items]
Term of long term incentive plan		10 years
Aggregate number of shares reserved and available for issuance			2,425,376			5,750,000
Minimum exercise price of stock option at grant date			no less than 100% of the fair market value, as defined in the 2016 Plan, of the shares on the date of grant.
Percentage of fair market value						100.00%
Maximum term of stock option						10 years
Options granted			0	0	0
Total stock based compensation expense not yet recognized, relating to non-vested equity awards			$ 4,819,000
2008 Plan [Member]
Stockholders Equity [Line Items]
Awards granted						0
Options vest at a percentage rate for first 5 years			16.50%
Options final year vesting			end of the sixth year

Preferred Stock - Additional Information (Detail)	Dec. 31, 2022 $ / shares shares
Equity [Abstract]
Additional preferred stock authorized for issuance	250,000
Preferred stock, par value \| $ / shares	$ 100
Additional no-par value preferred stock authorized for issuance	5,000,000

Derivatives, Hedges and Financial Instruments - Summary of Financial Instruments (Parenthetical) (Details)	Dec. 31, 2022	Dec. 31, 2021
Offsetting [Abstract]
Quoted price	91.00	103.25

Accrued and Other Liabilities - Summary of Accrued and Other Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued payroll and benefits	$ 12,440	$ 9,794
Accrued interest	11,196	8,397
Current portion of operating lease liabilities	$ 7,259	$ 7,755
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Current portion of accrued and other liabilities	Current portion of accrued and other liabilities
Other	$ 8,097	$ 10,385
Total current and noncurrent accrued liabilities	38,992	36,331
Less noncurrent portion	522	3,030
Current portion of accrued and other liabilities	$ 38,470	$ 33,301

Supplemental Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2022

Supplemental Cash Flow Elements [Abstract]

Additional Information Relating to Cash Flow Activities

The following provides additional information relating to cash flow activities:


	2022		2021			2020
	(In Thousands)
Cash payments (refunds) for:
Interest on long-term debt and other, net of capitalized interest	$	41,956	$	43,583		$	45,730
Income taxes, net	$	1,508	$	(182	)	$	(312	)

Noncash investing and financing activities:
Supplies, other assets and accounts payable and accrued liabilities associated with additions of property, plant and equipment	$	28,394	$	17,649		$	16,286
Loss on extinguishment of debt	$	113	$	—		$	—
Series E and Series F Redeemable Preferred and related dividends, accretion, and embedded derivative exchanged for common stock, net of related costs in accounts payable	$	—	$	306,690		$	37,208
Gain on extinguishment of PPP loan	$	—	$	10,000		$	—
Series B and Series D preferred converted into common stock	$	—	$	3,000		$	—

Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

7. Income Taxes

Provision (benefit) for income taxes are as follows:


	2022			2021			2020
	(In Thousands)
Current:
Federal	$	—		$	—		$	(4	)
State		2,320			(250	)		33
Total Current	$	2,320		$	(250	)	$	29

Deferred:
Federal	$	43,217		$	(6,217	)	$	(4,631	)
State		(6,363	)		1,911			(147	)
Total Deferred	$	36,854		$	(4,306	)	$	(4,778	)
Provision (benefit) for income taxes	$	39,174		$	(4,556	)	$	(4,749	)

The current provision (benefit) for federal and state income taxes shown above includes federal and state income tax after the consideration of permanent and temporary differences between income for GAAP and tax purposes.

The deferred tax provision (benefit) results from the recognition of changes in our prior year deferred tax assets and liabilities, and the utilization of federal and state NOL carryforwards and other temporary differences. We reduce income tax expense for tax credits in the year they arise and are earned. On December 31, 2022, our gross amount of tax credits available to offset state income taxes was $4.3 million ($3.4 million net of federal benefit). Most of these tax credits carryforward for 9 years and begin expiring in 2022. The gross amount of federal tax credits was $8.1 million. These credits carryforward for 20 years and begin expiring in 2034.

In 2022, we utilized approximately $240 million and $243 million of federal and state NOL carryforwards, respectively, to reduce tax liabilities and in 2021, we utilized approximately $64 million and $56 million of federal and state NOL carryforwards, respectively, to reduce tax liabilities (minimal in 2020). On December 31, 2022, we have remaining federal and state tax NOL carryforwards of $352 million and $440 million, respectively. The federal NOL carryforwards begin expiring in 2036 and the state NOL carryforwards began expiring in 2023.

We considered both positive and negative evidence in our determination of the need for valuation allowances for the deferred tax assets associated with federal and state NOLs and federal credits and in conjunction with the IRC Section 382 limitation. Information evaluated includes our financial position and results of operations for the current and preceding years, the availability of deferred tax liabilities and tax carrybacks, as well as an evaluation of currently available information about future years. Valuation allowances are reflective of our quarterly analysis of the four sources of taxable income, including the calculation of the reversal of existing tax assets and liabilities, the impact of annual utilization limitations of interest expense and net operating losses and our results of operations. Based on our analysis, we believe that it is more-likely-than-not that all of our federal deferred tax assets will be utilized and a portion of our state deferred tax assets will not be able to be utilized. Information relating to our valuation allowance are included in the tables below. In 2022, the provision for income taxes includes the reversal of approximately $13 million of federal valuation allowance and $19 million of state valuation allowance primarily due to current year income. There is no federal valuation allowance left as of December 31, 2022.

Deferred tax assets and liabilities include temporary differences and carryforwards as follows:


	December 31,
	2022			2021
	(In Thousands)

Deferred compensation	$	2,354		$	2,390
Other accrued liabilities		1,813			1,721
Lease liability		5,215			6,710
Interest expense carryforward		16,025			27,928
Net operating loss		93,201			159,213
Other		11,950			12,030
Less valuation allowance on deferred tax assets		(14,916	)		(46,968	)
Total deferred tax assets	$	115,642		$	163,024

Property, plant and equipment		(169,507	)		(178,535	)
Right-of-use-assets		(5,340	)		(6,709	)
Prepaid and other insurance reserves		(4,282	)		(4,413	)
Total deferred tax liabilities	$	(179,129	)	$	(189,657	)

Net deferred tax liabilities	$	(63,487	)	$	(26,633	)

All of our income (loss) before taxes relates to domestic operations. Detailed below are the differences between the amount of the provision (benefit) for income taxes and the amount which would result from the application of the federal statutory rate to “Income (loss) before benefit for income taxes.”


	2022			2021			2020
	(In Thousands)
Provision (benefit) for income taxes at federal statutory rate	$	56,543		$	8,187		$	(13,999	)
State current and deferred income tax provision (benefit)		9,374			1,833			(5,094	)
Valuation allowance - Federal		(12,701	)		(13,400	)		8,758
Valuation allowance - State		(19,351	)		(4,286	)		4,308
State tax rate changes		2,824			7,360			(660	)
Tax credits		—			(2,835	)		—
PPP loan forgiveness		—			(2,456	)		—
Other		2,485			1,041			1,938
Provision (benefit) for income taxes	$	39,174		$	(4,556	)	$	(4,749	)

A reconciliation of the beginning and ending amount of uncertain tax positions is as follows:


	2022		2021			2020
	(In Thousands)
Balance at beginning of year	$	—	$	464		$	519
Additions based on tax positions related to the current year		—		—			—
Reductions for tax positions of prior years		—		(464	)		(55	)
Balance at end of year	$	—	$	—		$	464

We expect that the amount of unrecognized tax benefits may change as the result of ongoing operations, the outcomes of audits, and the expiration of statute of limitations. This change is not expected to have a significant effect on our results of operations or financial condition. As of December 31, 2022, there is no remaining uncertain tax position.

We record interest related to unrecognized tax positions in interest expense and penalties in operating other expense. For 2022, 2021 and 2020, the amounts for interest and penalties associated with unrecognized tax positions were minimal. At December 31, 2022, there was no accrued interest or penalties (none at December 31, 2021).

LSB and certain of its subsidiaries file income tax returns in the U.S. federal jurisdiction and various state jurisdictions. With few exceptions, the 2019-2022 years remain open for all purposes of examination by the U.S. Internal Revenue Service (“IRS”) and other major tax jurisdictions. Additionally, the 2013-2018 years remain subject to examination for determining the amount of net operating loss and other carryforwards.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Stockholders' Equity - Summary of Restricted Stock Activity (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Income tax benefit				$ (36,000)
Cost of Sales [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ (1,221,000)
SG&A [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ (3,786,000)
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested outstanding beginning of year		948,979
Granted, Shares			799,500	40,479
Vested, Shares		(402,485)
Unvested outstanding end of year		546,494	948,979
Unvested outstanding beginning of year		$ 2.78
Weighted-average fair value per restricted stock granted during year			$ 3.55	$ 2.15
Vested, weighted-average grant date fair value		3.74
Unvested outstanding end of year		$ 2.72	$ 2.78
Total fair value of restricted stock granted			$ 2,183,000	$ 87,000
Income tax benefit		$ (269,000)	$ (430,000)	$ (279,000)
Total weighted-average remaining vesting period in years		11 months 23 days	1 year 10 months 2 days	1 year 7 months 9 days
Total fair value of restricted stock vested during the year		$ 4,394,000	$ 2,729,000	$ 578,000
Restricted Stock [Member] \| Cost of Sales [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		95,000	107,000	62,000
Restricted Stock [Member] \| SG&A [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$ 1,047,000	$ 1,645,000	$ 1,078,000
Performance Based Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested outstanding beginning of year		742,264
Granted, Shares			675,532	398,134
Vested, Shares		(429,625)
Unvested outstanding end of year		312,639	742,264
Unvested outstanding beginning of year		$ 2.67
Weighted-average fair value per restricted stock granted during year			$ 3.09	$ 2.46
Vested, weighted-average grant date fair value		2.65
Unvested outstanding end of year		$ 2.71	$ 2.67
Total fair value of restricted stock granted			$ 2,480,000	$ 980,000
Income tax benefit		$ (174,000)	$ (747,000)	$ (53,000)
Total weighted-average remaining vesting period in years		10 months 28 days	1 year 6 months 21 days	1 year 6 months 25 days
Total fair value of restricted stock vested during the year		$ 4,976,000	$ 6,671,000
Performance Based Restricted Stock [Member] \| Cost of Sales [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		70,000	103,000
Performance Based Restricted Stock [Member] \| SG&A [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$ 670,000	$ 2,938,000	$ 218,000
Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested outstanding beginning of year		209,743
Granted, Shares		264,800	327,188	301,361
Cancelled or forfeited, Shares		(52,096)
Unvested outstanding end of year		422,447	209,743
Unvested outstanding beginning of year		$ 5.04
Weighted-average fair value per restricted stock granted during year		13.15	$ 5.05	$ 0.85
Cancelled or forfeited, weighted-average grant date fair value		6.73
Unvested outstanding end of year		$ 10.50	$ 5.04
Total fair value of restricted stock granted		$ 3,482,000	$ 1,653,000	$ 255,000
Income tax benefit		$ (359,000)	$ (178,000)	$ (63,000)
Total weighted-average remaining vesting period in years		1 year 8 months 15 days	2 years 5 months 1 day	5 months 23 days
Total fair value of restricted stock vested during the year			$ 2,209,000	$ 16,000
Restricted Stock Units [Member] \| Cost of Sales [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$ 297,000	161,000
Restricted Stock Units [Member] \| SG&A [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$ 1,229,000	$ 562,000	$ 255,000
Performance Based Restricted Stock Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted, Shares		161,922
Unvested outstanding end of year		161,922
Weighted-average fair value per restricted stock granted during year		$ 13.22
Unvested outstanding end of year		$ 10.40
Total fair value of restricted stock granted		$ 2,141,000
Income tax benefit		$ (145,000)
Total weighted-average remaining vesting period in years		1 year 11 months 26 days
Performance Based Restricted Stock Units [Member] \| Cost of Sales [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$ 50,000
Performance Based Restricted Stock Units [Member] \| SG&A [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		$ 567,000

Net Sales - Additional Information (Detail 1)	12 Months Ended
Net Sales - Additional Information (Detail 1)	Dec. 31, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-01-01
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, percent	63.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	3 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-01-01
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, percent	24.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2026-01-01
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	2 years

Accrued and Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Other Liabilities Disclosure [Abstract]

Summary of Accrued and Other Liabilities


	December 31,
	2022		2021
	(In Thousands)
Accrued payroll and benefits	$	12,440	$	9,794
Accrued interest		11,196		8,397
Current portion of operating lease liabilities		7,259		7,755
Other		8,097		10,385
		38,992		36,331
Less noncurrent portion		522		3,030
Current portion of accrued and other liabilities	$	38,470	$	33,301

Net Income (Loss) per Common Share - Computation of Basic and Diluted Net Income (Loss) Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator:
Net income (loss)	$ 65,870	$ 2,312	$ 103,399	$ 58,766	$ 42,082	$ (8,928)	$ 23,670	$ (13,279)	$ 230,347	$ 43,545	$ (61,911)
Adjustments for basic and diluted net loss per common share:
Dividend accrued on redeemable preferred stock										(29,914)	(35,182)
Deemed dividend on Series E and Series F redeemable preferred stocks										231,812
Dividend requirements										(298)	(300)
Net income (loss) attributable to common stockholders	$ 65,870	$ 2,312	$ 103,399	$ 58,766	$ 42,009	$ (251,504)	$ 12,646	$ (23,376)	230,347	(220,002)	(99,419)
Numerator for diluted net income (loss) per common share									$ 230,347	$ (220,002)	$ (99,419)
Denominator:
Denominator for basic net income (loss) per common share - weighted- average shares									84,753	49,963	36,664
Effect of dilutive securities:
Unvested restricted stock and stock units									1,272
Dilutive potential common shares									1,272
Denominator for diluted net income (loss) per common share - adjusted weighted-average shares									86,025	49,963	36,664
Net income (loss)	$ 0.84	$ 0.03	$ 1.17	$ 0.66	$ 0.49	$ (6.39)	$ 0.34	$ (0.63)	$ 2.72	$ (4.40)	$ (2.71)
Net income (loss)	$ 0.83	$ 0.03	$ 1.15	$ 0.65	$ 0.47	$ (6.39)	$ 0.32	$ (0.63)	$ 2.68	$ (4.40)	$ (2.71)
Series E Redeemable Preferred Stock [Member]
Adjustments for basic and diluted net loss per common share:
Dividend accrued on redeemable preferred stock										$ (29,914)	$ (35,182)
Accretion of redeemable preferred stock										(1,523)	(2,026)
Series E and Series F Redeemable Preferred Stock [Member]
Adjustments for basic and diluted net loss per common share:
Deemed dividend on Series E and Series F redeemable preferred stocks										(231,812)
Series B Preferred Stock [Member]
Adjustments for basic and diluted net loss per common share:
Dividend requirements										(239)	(240)
Series D Preferred Stock [Member]
Adjustments for basic and diluted net loss per common share:
Dividend requirements										$ (59)	$ (60)

Income Taxes - Income (Loss) before Provision (Benefit) for Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Provision (benefit) for income taxes at federal statutory rate									$ 56,543	$ 8,187	$ (13,999)
State current and deferred income tax provision (benefit)									9,374	1,833	(5,094)
State tax rate changes									2,824	7,360	(660)
Tax credits										(2,835)
PPP loan forgiveness										(2,456)
Other									2,485	1,041	1,938
Provision (benefit) for income taxes	$ 6,897	$ 780	$ 20,382	$ 11,115	$ (4,369)	$ 19	$ (248)	$ 42	39,174	(4,556)	(4,749)
Federal [Member]
Operating Loss Carryforwards [Line Items]
Valuation allowance									(12,701)	(13,400)	8,758
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Valuation allowance									$ (19,351)	$ (4,286)	$ 4,308

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

1. Summary of Significant Accounting Policies

Basis of Consolidation – LSB Industries, Inc. (“LSB”) and its subsidiaries (the “Company”, “we”, “us”, or “our”) are consolidated in the accompanying consolidated financial statements. LSB is a holding company with no significant operations or assets other than cash, cash equivalents, and investments in its subsidiaries. All material intercompany accounts and transactions have been eliminated. Certain prior period amounts reported in our consolidated financial statements and notes thereto have been reclassified to conform to current period presentation.

Nature of Business – We are engaged in the manufacture and sale of chemical products. The chemical products we primarily manufacture, market and sell are ammonia, fertilizer grade AN (“HDAN”) and UAN for agricultural applications, high purity and commercial grade ammonia, high purity AN, sulfuric acids, concentrated, blended and regular nitric acid, mixed nitrating acids, carbon dioxide, and diesel exhaust fluid for industrial applications, and industrial grade AN (“LDAN”) and solutions for the mining industry. We manufacture and distribute our products in four facilities; three of which we own and are located in El Dorado, Arkansas (the “El Dorado Facility”); Cherokee, Alabama (the “Cherokee Facility”); and Pryor, Oklahoma (the “Pryor Facility”); and one of which we operate on behalf of Covestro LLC in Baytown, Texas (the “Baytown Facility”).

Sales to customers include farmers, ranchers, fertilizer dealers and distributors primarily in the ranch land and grain production markets in the United States (“U.S.”); industrial users of acids throughout the U.S. and parts of Canada; and explosive manufacturers in the U.S. and parts of Mexico, Canada and the Caribbean.

Use of Estimates – The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Stock Repurchase Program – During May 2022, our Board authorized a $50 million stock repurchase program. In August 2022, our Board authorized an increase in the size of the stock repurchase program to $100 million. In October 2022, our Board approved another expansion of the stock repurchase program, authorizing us to repurchase an additional $75 million of our outstanding common stock under the stock repurchase program. During 2022, we completed the repurchase authorizations by repurchasing approximately 13.5 million shares at an average cost of approximately $13 per share, including 9.0 million shares that were repurchased at an average cost of approximately $13 per share in connection with public offerings by LSB Funding and SBT Investors, each of which is an affiliate of Eldridge.

Increase in Authorized Shares of Common Stock and a Stock Dividend – In 2021, our stockholders approved an increase the number of authorized shares of our common stock to 150 million shares of common stock. The stockholder also approved the issuance and sale of up to approximately 60.4 million shares of common stock of the Company upon the exchange of all of the outstanding shares of Series E and Series F Redeemable Preferred. The stockholder also amended the certificate of designations of the Series E Redeemable Preferred to eliminate the right to participate in connection with the declaration of a proposed common stock dividend with respect to our common stock at the time of amendment.

In August 2021, our Board declared a common stock dividend (“Special Dividend”), the Special Dividend was completed in the form of a stock dividend of 0.3 shares of our common stock, for each outstanding share of common stock (excluding common stock held in the treasury and the common shares issued as part of the exchange of all of the outstanding shares of Series E and Series F Redeemable Preferred). The Special Dividend was paid through the issuance of approximately 9.1 million shares of common stock on October 8, 2021 to holders of record of common stock, including certain stock-based awards, on September 24, 2021 (the “Record Date”). Our common stock began trading on a stock dividend-adjusted basis on October 13, 2021.

For financial reporting purposes, the Special Dividend was accounted for as a stock split in the form of a stock dividend. As a result, all share and per share information herein was retroactively adjusted to reflect the Special Dividend.

As the result of the exchange transaction discussed above, a change of control event occurred as defined in certain equity award agreements outstanding at the time which are discussed in Note 10.

Equity Awards – Equity award transactions with employees are measured based on the estimated fair value of the equity awards issued. For equity awards with service conditions that have a graded vesting period, we recognize compensation cost on a straight-line basis over the requisite service period for the entire award. Forfeitures are accounted for as they occur. We may issue new shares of common stock or may use treasury shares associated with the equity awards.

Cash and Cash Equivalents – Investments, which consist of highly liquid investments with original maturities of three months or less, are considered cash equivalents.

Short-Term Investments - Investments, which consist of U.S. treasury bills with an original maturity up to and less than 52 weeks, are considered short-term investments and are classified as Level 1. We intend and have the ability to hold these investments until maturity. These investments are carried at cost which approximated fair value for the period ended December 31, 2022.

Accounts Receivable – Our accounts receivable is at net realizable value. This value includes an appropriate allowance for estimated uncollectible accounts to reflect any loss anticipated on accounts receivable balances. Our estimate is based on historical experience and periodic assessment of outstanding accounts receivable, particularly those accounts that are past due (based upon the terms of the sale). Our periodic assessment of our accounts receivable is based on our best estimate of amounts that are not recoverable. Any contract assets consist of receivables from contracts with customers. Our accounts receivable primarily relate to these contract assets and are presented in our consolidated balance sheets.

Sales to our customers are generally unsecured. Credit is extended to customers based on an evaluation of the customer’s financial condition and other factors. Customer payments are generally due thirty to sixty days after the invoice date. Concentrations of credit risk with respect to trade receivables are monitored and this risk is reduced due to short-term payment terms relating to most of our significant customers. Six customers (including their affiliates) account for approximately 52% of our total net receivables at December 31, 2022.

Inventories – Inventories are stated at the lower of cost (determined using the first-in, first-out (“FIFO”) basis) or net realizable value, which is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, transportation or disposal. Finished goods include material, labor, and manufacturing overhead costs.

Inventory reserves associated with cost exceeding net realizable value were not material at December 31, 2022 and 2021.

Property, Plant and Equipment – Property, plant and equipment (“PP&E”) are stated at cost, net of accumulated depreciation amortization (“D&A”). Leases meeting finance lease criteria are capitalized in PP&E. Major renewals and improvements that increase the life, value, or productive capacity of assets are capitalized in PP&E while maintenance, repairs and minor renewals are expensed as incurred. In addition, maintenance, repairs and minor renewal costs relating to planned major maintenance activities (“Turnarounds”) are expensed as they are incurred. All long-lived assets relate to domestic operations.

Fully depreciated assets are retained in PP&E and accumulated D&A accounts until disposal. When PP&E is retired, sold, or otherwise disposed, the asset’s carrying amount and related accumulated D&A is removed from the accounts and any gain or loss is included in other income or expense.

For financial reporting purposes, depreciation of the costs of PP&E is computed using the straight-line method over the estimated useful lives of the assets. No provision for depreciation is made on construction in progress or capital spare parts until such time as the relevant assets are put into service.

In general, assets held for sale are reported at the lower of the carrying amounts of the assets or fair values less costs to sell.

Impairment of Long-Lived Assets – Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset (asset group) may not be recoverable. An asset’s fair value must be determined when the carrying amount of an asset (asset group) exceeds the estimated undiscounted future cash flows expected to result from the use of the asset (asset group) and/or its eventual disposition. If assets to be held and used are considered to be impaired, the impairment to be recognized is the amount by which the carrying amounts of the assets exceed the fair values of the assets as measured by the present value of future net cash flows expected to be generated by the assets or their appraised value. In general, and depending on the event or change in circumstances, our asset groups are reviewed for impairment on a facility-by-facility basis (such as the Cherokee, El Dorado or Pryor Facility).

In addition, if the event or change in circumstance relates to the probable sale of an asset (or group of assets), the specific asset (or group of assets) is reviewed for impairment.

Leases – We determine if an arrangement is a lease at inception or modification of a contract and classify each lease as either an operating or finance lease based on the terms of the contract. We reassess lease classification subsequent to commencement upon a change to the expected lease term or a modification to the contract. A contract contains a lease if the contract conveys the right to control the use of the identified property or equipment, explicitly or implicitly, for a period of time in exchange for consideration. Control of an underlying asset is conveyed if we obtain the rights to direct the use of and obtain substantially all of the economic benefit from the use of the underlying asset.

An operating lease asset represents our right to use the underlying asset as a lessee for the lease term and an operating lease liability represent our obligation to make lease payments arising from the lease. Currently, most of our leases are classified as operating leases and primarily relate to railcars, other equipment and office space. Our leases that are classified as finance leases and other leases under which we are the lessor are not material. Variable payments are excluded from the present value of lease payments and are recognized

in the period in which the payment is made. Our current leases do not contain residual value guarantees. Most of our leases do not include options to extend or terminate the lease prior to the end of the term. Leases with a term of 12 months or less are not recognized in the balance sheet.

Since our leases generally do not provide an implicit rate, we use our incremental borrowing rate based on the lease term and other information available at the commencement date in determining the present value of lease payments. Lease expense is recognized on a straight-line basis over the applicable lease term.

Concentration of Credit Risks for Cash and Cash Equivalents and Sales – Financial instruments relating to cash and cash equivalents potentially subject us to concentrations of credit risk. These financial instruments were held by financial institutions within the U.S. None of the financial instruments held within U.S. were in excess of the federally insured limits.

Net sales to one customer, Koch Fertilizer LLC (“Koch Fertilizer”), represented approximately 21%, 15% and 10% of our total net sales for 2022, 2021 and 2020, respectively. Net sales to one customer, Coffeyville Resources Nitrogen Fertilizer, LLC (“CVR”), represented approximately 14%, 12% and 13% of our total net sales for 2022, 2021 and 2020, respectively.

Accrued Insurance Liabilities – We are self-insured up to certain limits for group health and general liability claims. Above these limits, we have commercial stop-loss insurance coverage for our contractual exposure on group health claims and statutory limits under workers’ compensation obligations. We also carry umbrella insurance of $100 million for most general liability and auto liability risks. We have a separate $50 million insurance policy covering pollution liability at our chemical facilities. Additional pollution liability coverage for our other facilities is provided in our general liability and umbrella policies.

Our accrued self-insurance liabilities are based on estimates of claims, which include the reported incurred claims amounts plus the reserves established by our insurance adjustors and/or estimates provided by attorneys handling the claims, if any, up to the amount of our self-insurance limits. In addition, our accrued insurance liabilities include estimates of incurred, but not reported, claims based on historical claims experience. The determination of such claims and the appropriateness of the related liability is periodically reviewed and revised, if needed. Changes in these estimated liabilities are charged to operations. Potential legal fees and other directly related costs associated with insurance claims are not accrued but rather are expensed as incurred. Accrued insurance claims are included in accrued and other liabilities. It is reasonably possible that the actual development of claims could be different than our estimates.

Executive Benefit Agreements – We are party to certain benefit agreements with certain key former executives. Costs associated with these individual benefit agreements are accrued based on the estimated remaining service period when such benefits become probable, or they will be paid. Total costs accrued equal the present value of specified payments to be made after benefits become payable.

Income Taxes – Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statement of operations in the period that includes the enactment date. We establish valuation allowances if we believe it is more-likely-than-not that some or all of deferred tax assets will not be realized. Significant judgment is applied in evaluating the need for and the magnitude of appropriate valuation allowances against deferred tax assets.

In addition, we do not recognize a tax benefit unless we conclude that it is more likely than not that the benefit will be sustained on audit by the relevant taxing authorities based solely on the technical merits of the associated tax position. If the recognition threshold is met, we recognize a tax benefit measured at the largest amount of the tax benefit that, in our judgment, is greater than 50% likely to be realized. We record interest related to unrecognized tax positions in interest expense and penalties in operating other expense.

Income tax benefits associated with amounts that are deductible for income tax purposes are recorded through the statement of operations. These benefits are principally generated from the vesting of restricted stock. We reduce income tax expense for investment tax credits in the period the credit arises and is earned.

Contingencies – Certain conditions may exist which may result in a loss, but which will only be resolved when future events occur. We and our legal counsel assess such contingent liabilities, and such assessment inherently involves an exercise of judgment. If the assessment of a contingency indicates that it is probable that a loss has been incurred, we accrue for such contingent losses when such losses can be reasonably estimated. If the assessment indicates that a potentially material loss contingency is not probable but reasonably possible, or is probable but cannot be estimated, the nature of the contingent liability, together with an estimate of the range of possible loss if determinable and material, would be disclosed. Estimates of potential legal fees and other directly related costs associated with contingencies are not accrued but rather are expensed as incurred. Loss contingency liabilities are included in current and noncurrent accrued and other liabilities and are based on current estimates that may be revised in the near term. In addition, we recognize contingent gains when such gains are realized or when the contingencies have been resolved (generally at the time a settlement has been reached).

Asset Retirement Obligations – In general, we record the estimated fair value of an asset retirement obligation (“ARO”) associated with tangible long-lived assets in the period it is incurred and when there is sufficient information available to estimate the fair value.

An ARO associated with long-lived assets is a legal obligation under existing or enacted law, statute, written or oral contract or legal construction. AROs, which are initially recorded based on estimated discounted cash flows, are accreted to full value over time through charges to cost of sales. In addition, we capitalize the corresponding asset retirement cost as PP&E, which cost is depreciated or depleted over the related asset’s respective useful life. We do not have any assets restricted for the purpose of settling our AROs.

Revenue Recognition and Other Information

Revenue Recognition and Performance Obligations

We determine revenue recognition through the following steps:

•

Identification of the performance obligations in the contract;

•

Determination of the transaction price;

•

Allocation of the transaction price to the performance obligations in the contract; and

•

Recognition of revenue when, or as, we satisfy a performance obligation.

A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is the unit of account. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. Generally, satisfaction occurs when control of the promised goods is transferred to the customer or as services are rendered or completed in exchange for consideration in an amount for which we expect to be entitled. Generally, control is transferred when the preparation for shipment of the product to a customer has been completed and shipment has occurred. Most of our contracts contain a single performance obligation with the promise to transfer a specific product.

Most of our revenue is recognized from performance obligations satisfied at a point in time, however, we have a performance obligation to perform certain services that are satisfied over a period of time. Revenue is recognized from this type of performance obligation as services are rendered and are based on the amount for which we have a right to invoice, which reflects the amount of expected consideration that corresponds directly with the value of the services performed.

Transaction Price Constraints and Variable Consideration

For most of our contracts with customers, the transaction price from the inception of a contract is constrained to a short period of time (generally one month) as these contracts contain terms with variable consideration related to both price and quantity. These contract prices are often based on commodity indexes (such as NYMEX natural gas index) published monthly and the contract quantities are typically based on estimated ranges. The quantities become fixed and determinable over a period of time as each sale order is received from the customer.

The nature of our contracts also gives rise to other types of variable consideration, including volume discounts and rebates, make-whole provisions, other pricing concessions, and short-fall charges. We estimate these amounts based on the expected amount to be provided to customers, which result in a transaction price adjustment reducing revenue (net sales) with the offset increasing contract or refund liabilities. These estimates are based on historical experience, anticipated performance and our best judgment at the time. We reassess these estimates on a quarterly basis.

The aforementioned constraints over transaction prices in conjunction with the variable consideration included in our material contracts prevent a practical assignment of a specific dollar amount to performance obligations at the beginning and end of the period. Therefore, we have applied the variable consideration allocation exception.

Future revenues to be earned from the satisfaction of performance obligations will be recognized when control transfers as goods are loaded and weighed or services are performed over the remaining duration of our contracts.

Practical Expedients and Other Information

We have applied the following practical expedients and policy elections:

•

to recognize revenue in the amount we have the right to invoice relating to certain services that are performed for customers and, not disclosing the value of unsatisfied performance obligations related to such services.

•

not disclosing the value of unsatisfied performance obligations for contracts with an original expected duration of one year or less.

•

not adjusting the promised amount of consideration for the effects of a significant financing component if we expect the financing time period to be one year or less.

•

expense as incurred any incremental costs of obtaining a contract if the associated period of benefit is one year or less.

•

to exclude from the measurement of the transaction price all taxes assessed by a governmental authority.

•

to account for shipping and handling as activities to fulfill the promise to transfer the good.

All net sales and long-lived assets relate to domestic operations for the periods presented. Our net sales were mainly to U.S. customers and to customers in Mexico, Canada and the Caribbean.

Recognition of Incentive Tax Credits (Other Than Credits Associated with Income Taxes) – If an incentive tax credit relates to a recovery of taxes (other than income taxes) incurred, we recognize the incentive tax credit when it is probable and reasonably estimable. If an incentive tax credit relates to an amount in excess of taxes incurred, the incentive tax credit is a contingent gain, which we recognize the incentive tax credit when it is realized or when the contingencies have been resolved (generally at the time a settlement has been reached). Amounts recoverable from the taxing authorities, if any, are included in accounts receivable. The same financial statement classification is used for an incentive tax credit as the associated tax incurred.

At December 31, 2022, we did not have an incentive tax credit receivable and it was minimal at December 31, 2021.

Recognition of Insurance Recoveries – If an insurance claim relates to a recovery of our losses, we recognize the recovery when it is probable and reasonably estimable. If our insurance claim relates to a contingent gain, we recognize the recovery when it is realized or when the contingencies have been resolved (generally at the time a settlement has been reached). Amounts recoverable from our insurance carriers, if any, are included in accounts receivable. An insurance recovery in excess of recoverable costs relating to a business interruption claim, if any, is a reduction to cost of sales.

Cost of Sales – Cost of sales includes materials, labor and overhead costs, including depreciation, to manufacture the products sold plus inbound freight, purchasing and receiving costs, inspection costs, internal transfer costs, loading and handling costs, warehousing costs, railcar lease costs and outbound freight. Maintenance, repairs and minor renewal costs relating to Turnarounds are included in cost of sales as they are incurred. Precious metals used as a catalyst and consumed during the manufacturing process are included in cost of sales. Recoveries and gains from precious metals and business interruption insurance claims, if any, are reductions to cost of sales.

Selling, General and Administrative Expense – Selling, general and administrative expense (“SG&A”) includes costs associated with the sales, marketing and administrative functions. Such costs include personnel costs, including benefits, professional fees, office and occupancy costs associated with the sales, marketing and administrative functions. Also included in SG&A are any distribution fees paid to third parties to distribute our products.

Derivatives, Hedges and Financial Instruments – Derivatives are recognized in the balance sheet and are measured at fair value. Changes in fair value of derivatives are recorded in results of operations unless the normal purchase or sale exceptions apply, or hedge accounting is elected. These changes in fair value are changes in assets/liabilities in operating cash flows until cash settlement when the cash flows would be classified according to their nature.

The fair value amounts recognized for our derivative contracts executed with the same counterparty under a master netting arrangement may be offset. We have the choice to offset or not, but that choice must be applied consistently. A master netting arrangement exists if the reporting entity has multiple contracts with a single counterparty that are subject to a contractual agreement that provides for the net settlement of all contracts through a single payment in a single currency in the event of default on or termination of any one contract. Offsetting the fair values recognized for the derivative contracts outstanding with a single counterparty results in the net fair value of the transactions being reported as an asset or a liability in the balance sheet. When applicable, we present the fair values of our derivative contracts under master netting agreements using a gross fair value presentation.

Assets and liabilities measured at fair value are classified using the following hierarchy, which is based upon the transparency of inputs to the valuation as of the measurement date:

Level 1 - Valuations of contracts classified as Level 1 are based on quoted prices in active markets for identical contracts.

Level 2 - Valuations of contracts classified as Level 2 are based on quoted prices for similar contracts and valuation inputs other than quoted prices that are observable for these contracts.

Level 3 - Valuations of assets and liabilities classified as Level 3 are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement.

Income (Loss) per Common Share – Net income (loss) attributable to common stockholders is computed by adjusting net income (loss) by the amount of dividends and dividend requirements (including the deemed dividend discussed above and presented in Note 2) on preferred stocks and the accretion of redeemable preferred stocks, if applicable. Basic loss per common share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding, excluding contingently issuable common shares (unvested restricted stock), if applicable. For periods we earn net income, a proportional share of net income is allocated to participating securities, if applicable, determined by dividing total weighted average participating securities by the sum of the total weighted average common shares and participating securities (the “two-class method”). Certain securities (Series E Redeemable Preferred prior to the Exchange Transaction and restricted stock units) participated in dividends declared on our common stock and were therefore considered to be participating securities.

Participating securities have the effect of diluting both basic and diluted income per common share during periods of net income. For periods we incur a net loss, no loss was allocated to participating securities because they have no contractual obligation to share in our losses. Diluted loss per common share is computed after giving consideration to the dilutive effect of our potential common stock instruments that are outstanding during the period, except where such non-participating securities would be anti-dilutive.

Segment Information - We operate in one principal business segment – our chemical business.

Recently Issued Accounting Pronouncements

Changes to U.S. GAAP are established by the FASB in the form of accounting standards updates (“ASUs”) to the FASB’s Accounting Standards Codification. We consider the applicability and impact of all ASUs. ASUs issued and outstanding or that became effective since January 1, 2022 through the date of these financial statements were assessed and determined not to be applicable or are expected to have minimal impact on our condensed consolidated financial position and results of operations.

Net Sales - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue, remaining performance obligation, expected timing of satisfaction, description	contracts have an original expected duration of one year or less, for our contracts with a duration greater than one year at contract inception, the average remaining expected duration was approximately 29 months
Average revenue remaining performance obligation expected timing of satisfaction period	29 months
Contract liabilities	$ 2.0	$ 1.6
Contract with customer, liability partially offset revenue recognized	1.5	$ 2.5
Amount of remaining performance obligation	$ 100.0

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment


	Average	December 31,
	useful lives (1)	2022		2021
		(In Thousands)
Machinery, equipment and automotive	25	$	1,283,429	$	1,244,617
Buildings and improvements	26		38,021		44,814
Land improvements	35		8,384		8,271
Furniture, fixtures and store equipment	7		2,438		1,156
Construction in progress	N/A		28,029		15,298
Capital spare parts	N/A		22,300		26,744
Land	N/A		4,567		4,567
			1,387,168		1,345,467
Less accumulated depreciation and amortization			538,507		486,987
		$	848,661	$	858,480

(1) Weighted average useful lives as of December 31, 2022.

Schedule II - Valuation and Qualifying Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts Receivable - Allowance for Doubtful Accounts [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Year	$ 474	$ 378	$ 261
Additions- Charges to (Recovery of) Costs and Expenses	485	96	141
Deductions- Write- offs/Costs Incurred	260		24
Balance at End of Year	699	474	378
Deferred Tax Assets - Valuation Allowance [Member]
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Year	46,968	64,655	51,589
Additions- Charges to (Recovery of) Costs and Expenses	(28,268)	(17,687)	13,471
Deductions- Write- offs/Costs Incurred	(3,784)		405
Balance at End of Year	$ 14,916	$ 46,968	$ 64,655

Long-Term Debt - Schedule of Maturities of Long-Term Debt (Detail) $ in Thousands	Dec. 31, 2022 USD ($)
Debt Disclosure [Abstract]
2023	$ 9,522
2024	5,838
2025	8,793
2026	173
2027	125
Thereafter	700,125
Less: Debt issuance costs	12,321
Long-term debt	$ 712,255

Derivatives, Hedges and Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Financial Instruments


	2022				2021
	Carrying		Estimated		Carrying		Estimated
	Amount		Fair Value		Amount		Fair Value
	(In Millions)
Senior Secured Notes (1)	$	700	$	637	$	500	$	516

Based on a quoted price of 91.00 at December 31, 2022 and 103.25 at December 31, 2021.

Related Party Transactions - Additional Information (Detail) - USD ($)				1 Months Ended	12 Months Ended
	Oct. 08, 2021	Sep. 27, 2021	Jan. 02, 2018	Oct. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Number of shares of common stock for each share of converted preferred stock					anti-dilution terms of the Series B and Series D Preferred, which shares were held by certain of the Golsen Holders, the conversion ratio of the 12% Cumulative, Convertible Preferred Stock, par value $100 (“Series B Preferred”) increased to 43.3333 to 1 from 33.3333 to 1 and Series D 6% Cumulative, Convertible Class C Preferred Stock, no par value (“Series D Preferred”) increased to 0.325 to 1 from 0.25 to 1.
LSB Funding [Member]
Related Party Transaction [Line Items]
Stock repurchase authorized					9,000,000.0
Stock repurchase acquired, average cost per share					$ 12.58
Directors fees					$ 300,000	$ 300,000	$ 300,000
SBT Investors and LSB Funding [Member]
Related Party Transaction [Line Items]
Common stock shares outstanding					19,900,000
Percentage of common stock shares owned					26.00%
Eldridge [Member]
Related Party Transaction [Line Items]
Debt issued - principal amount					$ 50,000,000
Eldridge [Member] \| New Senior Secured Notes [Member]
Related Party Transaction [Line Items]
Debt issued - principal amount					30,000,000
Barry H. Golsen [Member]
Related Party Transaction [Line Items]
Directors fees					$ 100,000	100,000	$ 100,000
Jack E. Golsen [Member]
Related Party Transaction [Line Items]
Current term expiring date					Dec. 31, 2017
Retirement date					Dec. 31, 2017
Jack E. Golsen [Member] \| Transition Agreement [Member]
Related Party Transaction [Line Items]
Agreement commencement date			Jan. 01, 2018
Payment of annual cash retainer fee			$ 480,000
Amount payable to cover certain monthly expense			$ 4,400
Special Dividend [Member]
Related Party Transaction [Line Items]
Special dividend paid in common shares	9,100,000			9,100,000
Special Dividend [Member] \| LSB Funding [Member]
Related Party Transaction [Line Items]
Special dividend paid in common shares				1,200,000
Special Dividend [Member] \| Golsen Holders [Member]
Related Party Transaction [Line Items]
Special dividend paid in common shares				700,000
Series E and Series F Redeemable Preferred Stock [Member]
Related Party Transaction [Line Items]
Issuance and sale of common stock upon the exchange of redeemable preferred shares		49,100,000
Series D Preferred Stock [Member] \| Anti-dilution Terms [Member]
Related Party Transaction [Line Items]
Preferred stock converted into shares of common stock				0.325	0.25
Series B and Series D Preferred Stock [Member]
Related Party Transaction [Line Items]
Accumulated dividends						$ 1,900,000
Preferred stock converted into shares of common stock						1,200,000
Preferred stock, shares outstanding						0

Employee Savings and Stock Purchase Plans, Collective Bargaining Agreements and Executive Benefit Agreement

12 Months Ended

Dec. 31, 2022

Employee Savings and Stock Purchase Plans, Collective Bargaining Agreements and Executive Benefit Agreement

12. Employee Savings and Stock Purchase Plans, Collective Bargaining Agreements and Executive Benefit Agreement

We were party to a death benefit agreement (“2005 Agreement”) with Jack E. Golsen (“J. Golsen”), who retired effective December 31, 2017.

The 2005 Agreement provided that, upon J. Golsen’s death, we would pay to the designated beneficiary, a lump-sum payment of $2.5 million. J. Golsen passed away in April 2022. Further, we maintained and owned a life insurance policy with a face value of $3.0 million for which we were the beneficiary. The policy did not have any cash surrender value, premium payments were current, and the policy was in force at the time of J. Golsen’s death. We received the settlement payment of $3.0 million and paid the death benefit of $2.5 million in July 2022. We have recorded $3.0 million in a settlement of life insurance presented within non-operating other expense (income), net within our consolidated statements of operations for the twelve months ended December 31, 2022. The settlement of life insurance is included in our consolidated statement of cash flows in “Other” investing activities.

The following table includes information about this agreement:


	December 31,
	2022		2021
	(In Thousands)
Total undiscounted death benefit	$	—	$	2,500
Total accrued death benefit	$	—	$	2,514

To assist us in funding the 2005 Agreement and for other business reasons, we purchased life insurance policies on various individuals in which we are the beneficiary. Some of these life insurance policies have cash surrender values that we have borrowed against. The net cash surrender values of these policies are included in other assets.

The following table summarizes certain information about these life insurance policies.


	December 31,
	2022			2021
	(In Thousands)
Total face value of life insurance policies	$	1,500		$	4,500

Total cash surrender values of life insurance policies	$	1,936		$	1,863
Loans on cash surrender values		(1,642	)		(1,642	)
Net cash surrender values	$	294		$	221


	2022			2021			2020
	(In Thousands)
Cost of life insurance premiums	$	54		$	215		$	215
Increase in cash surrender values		(73	)		(69	)		(69	)
Net cost of life insurance premiums included in SG&A	$	(19	)	$	146		$	146

Employee Savings Plans - We sponsor a savings plan under Section 401(k) of the Internal Revenue Code under which participation is available to substantially all full-time employees. We match 50% of an employee’s contribution, up to 8% which was increased during 2022 from 6%, for substantially all full-time employees. For 2022, 2021 and 2020, the amounts contributed to this plan were approximately $1.3 million, $1.0 million, and $1.0 million respectively.

Employee Stock Purchase Plan - During 2022 our Board adopted our 2022 Employee Stock Purchase Plan (“ESPP”), which plan was approved by our shareholders at our annual meeting of shareholders held May 12, 2022. The ESPP is administered by the compensation committee of the Board. The maximum number of shares reserved and available for issuance under the ESPP shall not exceed 4,500,000 shares. Eligibility in the ESPP is limited to our employees and employees of our subsidiaries who have been continuously employed for a period of at least 30 days as of the first day of an offering and satisfy other requirements set forth in the ESPP. The ESPP offering period under the ESPP will be 6 months in duration and commence on the first business day of January and July of each year. ESPP participants may elect to authorize payroll deductions between 1 to 10 percent of eligible compensation each payroll period. Participants may purchase a maximum of 4,500 shares with respect to any offering period. The ESPP limits purchases not to exceed $25,000 in fair market value for each calendar year during which any option granted to the participant is outstanding. The purchase price of each share will be 90 percent of the closing price of a share of our common stock on the exercise date. Shares purchased by the participant are issued from our treasury stock. During 2022, we had one offering and approximately 9,000 shares were issued from our treasury stock to participants at a closing price of $13.30.

Collective Bargaining Agreements - As of December 31, 2022, we employed 571 persons, 180 whom are represented by unions under collective bargaining agreements. We have three 3-year union contracts which were successfully ratified in 2022.

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 63,769	$ 82,144
Short-term investments	330,553
Accounts receivable	75,494	86,902
Allowance for doubtful accounts	(699)	(474)
Accounts receivable, net	74,795	86,428
Inventories:
Finished goods	28,893	14,688
Raw materials	1,990	1,895
Total inventories	30,883	16,583
Supplies, prepaid items and other:
Prepaid insurance	17,429	14,244
Precious metals	13,323	14,945
Supplies	27,501	26,558
Other	8,346	2,234
Total supplies, prepaid items and other	66,599	57,981
Total current assets	566,599	243,136
Property, plant and equipment, net	848,661	858,480
Other assets:
Operating lease assets	22,682	27,317
Intangible and other assets, net	1,877	3,907
Total other assets	24,559	31,224
Total assets	1,439,819	1,132,840
Current liabilities:
Accounts payable	78,182	49,458
Short-term financing	16,134	12,716
Accrued and other liabilities	38,470	33,301
Current portion of long-term debt	9,522	9,454
Total current liabilities	142,308	104,929
Long-term debt, net	702,733	518,190
Noncurrent operating lease liabilities	14,896	19,568
Other noncurrent accrued and other liabilities	522	3,030
Deferred income taxes	63,487	26,633
Commitments and contingencies (Note 8)
Stockholders' equity:
Common stock, $.10 par value; 150 million shares authorized, 91.2 million shares issued	9,117	9,117
Capital in excess of par value	497,179	493,161
Retained earnings (accumulated deficit)	199,092	(31,255)
Stockholders equity including treasury stock	705,388	471,023
Less treasury stock, at cost:
Common stock, 14.9 million shares (1.4 million shares at December 31, 2021)	189,515	10,533
Total stockholders' equity	515,873	460,490
Total Liabilities and Stockholders' equity	$ 1,439,819	$ 1,132,840

Employee Savings and Stock Purchase Plans, Collective Bargaining Agreements and Executive Benefit Agreement - Life Insurance Policies (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Compensation Related Costs [Abstract]
Total face value of life insurance policies	$ 1,500	$ 4,500
Total cash surrender values of life insurance policies	1,936	1,863
Loans on cash surrender values	(1,642)	(1,642)
Net cash surrender values	$ 294	$ 221

Leases - Additional Information (Details) $ in Millions	Dec. 31, 2022 USD ($)
Leases [Abstract]
Lease obligations not yet commenced	$ 0.9

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Provision (Benefit) for Income Taxes

Provision (benefit) for income taxes are as follows:


	2022			2021			2020
	(In Thousands)
Current:
Federal	$	—		$	—		$	(4	)
State		2,320			(250	)		33
Total Current	$	2,320		$	(250	)	$	29

Deferred:
Federal	$	43,217		$	(6,217	)	$	(4,631	)
State		(6,363	)		1,911			(147	)
Total Deferred	$	36,854		$	(4,306	)	$	(4,778	)
Provision (benefit) for income taxes	$	39,174		$	(4,556	)	$	(4,749	)

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities include temporary differences and carryforwards as follows:


	December 31,
	2022			2021
	(In Thousands)

Deferred compensation	$	2,354		$	2,390
Other accrued liabilities		1,813			1,721
Lease liability		5,215			6,710
Interest expense carryforward		16,025			27,928
Net operating loss		93,201			159,213
Other		11,950			12,030
Less valuation allowance on deferred tax assets		(14,916	)		(46,968	)
Total deferred tax assets	$	115,642		$	163,024

Property, plant and equipment		(169,507	)		(178,535	)
Right-of-use-assets		(5,340	)		(6,709	)
Prepaid and other insurance reserves		(4,282	)		(4,413	)
Total deferred tax liabilities	$	(179,129	)	$	(189,657	)

Net deferred tax liabilities	$	(63,487	)	$	(26,633	)

Income (Loss) before Provision (Benefit) for Income Taxes


	2022			2021			2020
	(In Thousands)
Provision (benefit) for income taxes at federal statutory rate	$	56,543		$	8,187		$	(13,999	)
State current and deferred income tax provision (benefit)		9,374			1,833			(5,094	)
Valuation allowance - Federal		(12,701	)		(13,400	)		8,758
Valuation allowance - State		(19,351	)		(4,286	)		4,308
State tax rate changes		2,824			7,360			(660	)
Tax credits		—			(2,835	)		—
PPP loan forgiveness		—			(2,456	)		—
Other		2,485			1,041			1,938
Provision (benefit) for income taxes	$	39,174		$	(4,556	)	$	(4,749	)

Reconciliation of Beginning and Ending Amount of Uncertain Tax Positions

A reconciliation of the beginning and ending amount of uncertain tax positions is as follows:


	2022		2021			2020
	(In Thousands)
Balance at beginning of year	$	—	$	464		$	519
Additions based on tax positions related to the current year		—		—			—
Reductions for tax positions of prior years		—		(464	)		(55	)
Balance at end of year	$	—	$	—		$	464

Employee Savings and Stock Purchase Plans, Collective Bargaining Agreements and Executive Benefit Agreement - Additional Information (Detail)	1 Months Ended	12 Months Ended
	Jul. 28, 2022 USD ($)	Dec. 31, 2022 USD ($) Person Contract $ / shares shares	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Face value of life insurance policies		$ 1,500,000	$ 4,500,000
401(k) plan, Employer matching contribution percentage		50.00%
Defined contribution plan, employer discretionary contribution amount		$ 1,300,000	$ 1,000,000.0	$ 1,000,000.0
Maximum number of shares reserved and available for issuance \| shares		600,000
Number of persons employed \| Person		571
Union contracts agreement period		3 years
Number of union contracts ratified \| Contract		3
Collective Bargaining Agreements [Member]
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Number of persons employed \| Person		180
Maximum [Member]
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
401(k) plan, Company matching contributions to all full-time employees		8.00%	6.00%
Employee Stock Purchase Plan [Member]
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Maximum number of shares that can be purchased \| shares		4,500
Offering period of each year		6 months
Maximum purchases in fair market value for each calendar year		$ 25,000
Percentage of purchase price of common stock		90.00%
Employee Stock Purchase Plan [Member] \| Maximum [Member]
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Payroll deductions of eligible compensation each period		10.00%
Maximum number of shares reserved and available for issuance \| shares		4,500,000
Employee Stock Purchase Plan [Member] \| Minimum [Member]
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Payroll deductions of eligible compensation each period		1.00%
Jack E. Golsen [Member]
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Retirement date		Dec. 31, 2017
Minimum amount of life insurance policy to be kept by the company for 2005 Agreement		$ 2,500,000
Face value of life insurance policies		3,000,000.0
Settlement payment received	$ 3,000,000.0
Payment of death benefits	$ 2,500,000
Gain on insurance settlement		$ 3,000,000.0
Treasury Stock [Member] \| Employee Stock Purchase Plan [Member]
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Number of shares issued \| shares		9,000
Closing price per share \| $ / shares		$ 13.30

Long-Term Debt - Working Capital Revolver Loan and Senior Secured Notes - Additional Information (Detail) - USD ($)			1 Months Ended	3 Months Ended			12 Months Ended
	Mar. 08, 2022	Oct. 14, 2021	Feb. 28, 2019	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt				$ (113,000)	$ (20,259,000)	$ 10,000,000	$ (113,000)	$ (10,259,000)
Working Capital Revolver Loan [Member]
Debt Instrument [Line Items]
Maximum amount of revolving credit facility			$ 65,000,000
Revolving credit facility, increase (decrease), net							10,000,000
Amount available for borrowing							$ 64,100,000
Maturity date							Feb. 26, 2024
Working Capital Revolver Loan [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate			1.50%
Working Capital Revolver Loan [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate			1.75%
Working Capital Revolver Loan [Member] \| Wells Fargo Capital Finance, Inc. [Member] \| Prime Rate [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate			0.50%
Working Capital Revolver Loan [Member] \| Wells Fargo Capital Finance, Inc. [Member] \| Prime Rate [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate			0.75%
Springing Financials Covenant [Member] \| Working Capital Revolver Loan [Member]
Debt Instrument [Line Items]
Working capital revolver loan requirements							borrowers must maintain a minimum fixed charge coverage ratio of not less than 1.00 to 1.00.
Maximum revolver commitment available, percentage							10.00%
Loan requirements description							less than 10.0% of the total revolver commitments
Fixed charge coverage ratio							100.00%
6.25% Senior Secured Notes Due 2028 [Member]
Debt Instrument [Line Items]
Maturity date							Oct. 15, 2028
Debt issued - principal amount	$ 200,000,000	$ 500,000,000
Debt instrument, interest rate		6.25%					6.25%
Debt instrument, maturity term		2028
Debt instrument issued price percentage	100.00%	100.00%					25.00%
Gain (loss) on extinguishment of debt								$ (20,300,000)
Debt instrument, frequency of interest payment							Interest on the Senior Secured Notes accrues at a rate of 6.25% per annum and is payable semi-annually in arrears on May 15 and October 15 of each year.
Senior Secured Notes [Member] \| Optional Redemption On or After October 15, 2024 [Member]
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage							3.125%
Senior Secured Notes [Member] \| Optional Redemption On or After October 15, 2025 [Member]
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage							1.563%
Senior Secured Notes [Member] \| Optional Redemption On or After October 15, 2026 [Member]
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage							0.00%
Senior Secured Notes [Member] \| Change of Control [Member]
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage							101.00%
8.32% Secured Financing Due 2023 [Member] \| El Dorado Chemical Company [Member]
Debt Instrument [Line Items]
Maturity date							Jun. 30, 2023
Debt instrument, frequency of interest payment							Principal and interest are payable in 48 equal monthly installments with a final balloon payment of approximately $3 million due in June 2023
Final balloon payment							$ 3,000,000
8.75% Secured Financing Due 2025 [Member] \| El Dorado Chemical Company [Member]
Debt Instrument [Line Items]
Maturity date							Mar. 30, 2025
Debt instrument, interest rate							8.75%
8.75% Secured Financing Due 2025 [Member] \| El Dorado Ammonia L.L.C. [Member]
Debt Instrument [Line Items]
Maturity date							Aug. 31, 2025
Debt issued - principal amount							$ 30,000,000
Debt instrument, frequency of interest payment							principal and interest are payable in 60 equal monthly installments with a final balloon payment of approximately $5 million due in August 2025.
Final balloon payment							$ 5,000,000
Letter of Credit [Member] \| Working Capital Revolver Loan [Member]
Debt Instrument [Line Items]
Maximum amount of revolving credit facility			$ 10,000,000

Related Party Transactions

12 Months Ended

Dec. 31, 2022

Related Party Transactions

13. Related Party Transactions

As discussed in Note 1, as the result of the stockholders’ approval, the Series E and Series F Redeemable Preferred exchange transaction was consummated during 2021. Pursuant to the terms of the exchange agreement, an affiliate of Eldridge exchanged all of the shares of the Series E and Series F Redeemable Preferred for approximately 49.1 million shares of our common stock.

At December 31, 2022 SBT Investors and LSB Funding, each of which is an affiliate of Eldridge beneficially own, in the aggregate, 19.9 million shares of our outstanding common stock, or approximately 26% of our outstanding common stock.

As discussed in Note 1, our Board declared the Special Dividend that was paid through the issuance of approximately 9.1 million shares of common stock in 2021, which amount included approximately 1.2 million shares to LSB Funding and approximately 0.7 million shares to certain of the Golsen Holders. In addition, pursuant to the anti-dilution terms of the Series B and Series D Preferred, which shares were held by certain of the Golsen Holders, the conversion ratio of the 12% Cumulative, Convertible Preferred Stock, par value $100 (“Series B Preferred”) increased to 43.3333 to 1 from 33.3333 to 1 and Series D 6% Cumulative, Convertible Class C Preferred Stock, no par value (“Series D Preferred”) increased to 0.325 to 1 from 0.25 to 1.

Following the exchange transaction in 2021, certain of the Golsen Holders who held all of the outstanding shares of Series B Preferred and Series D Preferred provided notice to convert all of their shares of Series B Preferred and Series D Preferred into approximately 1.2 million shares of our common stock, pursuant to the terms of these securities. Pursuant to the terms of these securities, our Board declared and we paid the accumulated dividends totaling approximately $1.9 million on the Series B and Series D Preferred. As a result, no shares of the Series B Preferred and Series D Preferred remain outstanding at December 31, 2021.

As of December 31, 2022, we have two separate outstanding financing arrangements by an affiliate of Eldridge as discussed in footnotes (C) and (D) of Note 6. In addition, an affiliate of LSB Funding held $50 million of our Old Notes, which Old Notes were redeemed with the proceeds from the New Notes as discussed in footnote (B) of Note 6. An affiliate of Eldridge holds $30 million of the New Notes.

During 2022, we exhausted our stock repurchase authorization, including by repurchasing 9.0 million shares at an average cost of $12.58 per share in connection with a public offerings by LSB Funding and SBT Investors, each of which is an affiliate of Eldridge.

Pursuant to the terms of the Board Representation and Standstill Agreement, as amended, our Board includes two directors that are employees of affiliates of LSB Funding and SBT Investors. During 2022, 2021 and 2020, we incurred director fees associated with these directors totaling approximately $0.3 million for each respective year.

During 2022, 2021 and 2020, we incurred director fees associated with Barry H. Golsen totaling approximately $0.1 million for each respective year.

As the result of Jack E. Golsen (“J. Golsen”) informing the Board of his election to retire as Executive Chairman effective December 31, 2017, we determined not to extend the employment agreement with J. Golsen beyond its then current term that expired on December 31, 2017 (the “Retirement Date”) and, in accordance with the terms his employment agreement, delivered a notice of non-renewal to J. Golsen. Following the Retirement Date, J. Golsen served as Chairman Emeritus of our Board.

In 2017, we entered into a transition agreement (the “Transition Agreement”) with J. Golsen that commenced on January 1, 2018 and ends upon the earlier of his death or a change in control as defined in the agreement. During the term, J. Golsen received an annual cash retainer of $480,000 and an additional monthly amount of $4,400 to cover certain expenses. In accordance with the terms of the Transition Agreement, we also reimburse J. Golsen for his cost of certain medical insurance coverage until his death. J. Golsen passed away in April 2022.

We were party to a death benefit agreement (“2005 Agreement”) with J. Golsen. See discussion in Note 12-Employee Savings and Stock Purchase Plans, Collective Bargaining Agreements and Executive Benefit Agreement.

Property, Plant and Equipment - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2022
Chemical Processing Plants and Plant Infrastructure [Member] \| Minimum [Member]
Property Plant And Equipment [Line Items]
Useful lives in years	15 years
Chemical Processing Plants and Plant Infrastructure [Member] \| Maximum [Member]
Property Plant And Equipment [Line Items]
Useful lives in years	30 years
Processing Plant Components [Member] \| Minimum [Member]
Property Plant And Equipment [Line Items]
Useful lives in years	3 years
Processing Plant Components [Member] \| Maximum [Member]
Property Plant And Equipment [Line Items]
Useful lives in years	10 years
Trucks, Automobiles, Trailers, and Other Rolling Stock [Member] \| Minimum [Member]
Property Plant And Equipment [Line Items]
Useful lives in years	4 years
Trucks, Automobiles, Trailers, and Other Rolling Stock [Member] \| Maximum [Member]
Property Plant And Equipment [Line Items]
Useful lives in years	7 years

Net Income (Loss) per Common Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Computation of Basic and Diluted Net Income (Loss) Per Common Share

The following table sets forth the computation of basic and diluted net income (loss) per common share:


	2022		2021			2020
	( In Thousands, Except Per Share Amounts)
Numerator:
Net income (loss)	$	230,347	$	43,545		$	(61,911	)
Adjustments for basic and diluted net loss per common share:
Dividend requirements on Series E Redeemable Preferred		—		(29,914	)		(35,182	)
Deemed dividend on Series E and Series F Redeemable Preferred		—		(231,812	)		—
Dividend and dividend requirements on Series B Preferred		—		(239	)		(240	)
Dividend and dividend requirements on Series D Preferred		—		(59	)		(60	)
Accretion of Series E Redeemable Preferred		—		(1,523	)		(2,026	)

Numerator for basic and diluted net income (loss) per common share	$	230,347	$	(220,002	)	$	(99,419	)

Denominator:
Denominator for basic net income (loss) per common share - weighted- average shares (1)		84,753		49,963			36,664
Effect of dilutive securities:
Unvested restricted stock and stock units		1,272		—			—
Dilutive potential common shares		1,272		—			—

Denominator for diluted net income (loss) per common share - adjusted weighted-average shares (1)		86,025		49,963			36,664

Basic net income (loss) per common share	$	2.72	$	(4.40	)	$	(2.71	)

Diluted net income (loss) per common share	$	2.68	$	(4.40	)	$	(2.71	)

(1)

All periods exclude the weighted-average shares of unvested restricted stock that are contingently issuable.

Antidilutive Securities Excluded from Computation of Diluted Net Loss Per Common Share

The following weighted-average shares of securities were not included in the computation of diluted net loss per common share as their effect would have been antidilutive:


	2022		2021		2020
	(In Thousands)
Restricted stock and stock units		80		1,531		1,588
Stock options		13		13		138
Series E redeemable preferred stock - embedded derivative		—		—		304
Convertible preferred stocks		—		—		1,192
		93		1,544		3,222

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net sales	$ 901,711	$ 556,239	$ 351,316
Cost of sales	553,344	417,260	334,268
Gross profit	348,367	138,979	17,048
Selling, general and administrative expense	39,428	38,028	32,084
Other expense (income), net	561	(97)	499
Operating income (loss)	308,378	101,048	(15,535)
Interest expense, net	46,827	49,378	51,115
Net loss on extinguishments of debt	113	10,259
Non-operating other expense (income), net	(8,083)	2,422	10
Income (loss) before benefit for income taxes	269,521	38,989	(66,660)
Provision (benefit) for income taxes	39,174	(4,556)	(4,749)
Net income (loss)	230,347	43,545	(61,911)
Dividends on convertible preferred stocks		298	300
Deemed dividend on Series E and Series F redeemable preferred stocks		231,812
Net income (loss) attributable to common stockholders	$ 230,347	$ (220,002)	$ (99,419)
Basic:
Net income (loss)	$ 2.72	$ (4.40)	$ (2.71)
Diluted:
Net income (loss)	$ 2.68	$ (4.40)	$ (2.71)
Series E Preferred Stock [Member]
Dividends on Series E redeemable preferred stock		$ 29,914	$ 35,182
Accretion of Series E redeemable preferred stock		$ 1,523	$ 2,026

Employee Savings and Stock Purchase Plans, Collective Bargaining Agreements and Executive Benefit Agreement - Life Insurance Premiums (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Compensation Related Costs [Abstract]
Cost of life insurance premiums	$ 54	$ 215	$ 215
Increase in cash surrender values	(73)	(69)	(69)
Net cost of life insurance premiums included in SG&A	$ 19	$ 146	$ 146

Income Taxes - Provision (Benefit) for Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current:
Federal											$ (4)
State									$ 2,320	$ (250)	33
Total Current									2,320	(250)	29
Deferred:
Federal									43,217	(6,217)	(4,631)
State									(6,363)	1,911	(147)
Total Deferred									36,854	(4,306)	(4,778)
Provision (benefit) for income taxes	$ 6,897	$ 780	$ 20,382	$ 11,115	$ (4,369)	$ 19	$ (248)	$ 42	$ 39,174	$ (4,556)	$ (4,749)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Net Income (Loss) per Common Share - Antidilutive Securities Excluded from Computation of Diluted Net Loss Per Common Share (Detail) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	93,000	1,544,000	3,222,000
Restricted Stock and Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	80,000	1,531,000	1,588,000
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	13,000	13,000	138,000
Convertible Preferred Stocks [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount			1,192,000
Embedded Derivative [Member] \| Series E Redeemable Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount			304,000

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Deferred compensation	$ 2,354	$ 2,390
Other accrued liabilities	1,813	1,721
Lease liability	5,215	6,710
Interest expense carryforward	16,025	27,928
Net operating loss	93,201	159,213
Other	11,950	12,030
Less valuation allowance on deferred tax assets	(14,916)	(46,968)
Total deferred tax assets	115,642	163,024
Property, plant and equipment	(169,507)	(178,535)
Right-of-use-assets	(5,340)	(6,709)
Prepaid and other insurance reserves	(4,282)	(4,413)
Total deferred tax liabilities	(179,129)	(189,657)
Net deferred tax liabilities	$ (63,487)	$ (26,633)