T-SQL Query Explanation

I am writing a query to archive some data in a few of our huge tables in our ERP system.
I made a mistake in my delete statement and would like for someone to explain to me exactly how the delete query ran at all. Here is the full query:

/* IC BIN MOVEMENTS */

CREATE TABLE #BINMOVEMENTS(
	[OLD_GEM_DBKEY] [int] NOT NULL, --WILL BE ORIGINAL GEM_DBKEY FROM IC_BIN_MOVEMENTS
	[COMPANY_CODE] [varchar](10) NOT NULL,
	[WAREHOUSE] [varchar](2) NOT NULL,
	[PART_CODE] [varchar](15) NULL,
	[BIN_LOCATION] [varchar](15) NOT NULL,
	[MH_NUMBER] [int] NOT NULL,
	[DOCUMENT_NUMBER] [varchar](13) NOT NULL,
	[DOCUMENT_LINE] [varchar](9) NULL,
	[DOCUMENT_SEQUENCE] [smallint] NOT NULL,
	[UNIT_OF_MEASURE] [varchar](4) NULL,
	[SOURCE_MODULE] [varchar](2) NULL,
	[TRANSACTION_TYPE] [varchar](2) NULL,
	[FACTORY] [varchar](2) NOT NULL,
	[WAREHOUSE_ZONE] [varchar](6) NOT NULL,
	[MOVEMENT_DATE] [datetime] NULL,
	[SYSTEM_DATE] [datetime] NOT NULL,
	[USERNAME] [varchar](12) NOT NULL,
	[SYS_CALLING_FUNCTION] [varchar](15) NOT NULL,
	[IC_STATUS_CODE] [varchar](8) NOT NULL,
	[IC_LOT_NUMBER] [varchar](15) NOT NULL,
	[IC_LOT_SEQUENCE] [int] NOT NULL,
	[IC_QUANTITY_FIELD] [varchar](30) NOT NULL,
	[IC_MOVE_QUANTITY] [numeric](20, 6) NOT NULL,
	[IC_PRODUCT_UOM_TYPE] [varchar](1) NOT NULL,
	[MOVEMENT_CODE] [varchar](6) NULL,
	[TRANSACTION_DESCRIPTION] [varchar](30) NULL,
	[PERIOD] [smallint] NOT NULL,
	[YEAR] [smallint] NOT NULL,
	[GEM_TRANSACTION_ID] [varchar](64) NULL
)

INSERT INTO #BINMOVEMENTS (
	OLD_GEM_DBKEY,
	COMPANY_CODE,
	WAREHOUSE,
	PART_CODE,
	BIN_LOCATION,
	MH_NUMBER,
	DOCUMENT_NUMBER,
	DOCUMENT_LINE,
	DOCUMENT_SEQUENCE,
	UNIT_OF_MEASURE,
	SOURCE_MODULE,
	TRANSACTION_TYPE,
	FACTORY,
	WAREHOUSE_ZONE,
	MOVEMENT_DATE,
	SYSTEM_DATE,
	USERNAME,
	SYS_CALLING_FUNCTION,
	IC_STATUS_CODE,
	IC_LOT_NUMBER,
	IC_LOT_SEQUENCE,
	IC_QUANTITY_FIELD,
	IC_MOVE_QUANTITY,
	IC_PRODUCT_UOM_TYPE,
	MOVEMENT_CODE,
	TRANSACTION_DESCRIPTION,
	PERIOD,
	[YEAR],
	GEM_TRANSACTION_ID
) 
(
SELECT C.[GEM_DBKEY]
	  ,C.[COMPANY_CODE]
      ,C.[WAREHOUSE]
      ,C.[PART_CODE]
      ,C.[BIN_LOCATION]
      ,C.[MH_NUMBER]
      ,C.[DOCUMENT_NUMBER]
      ,C.[DOCUMENT_LINE]
      ,C.[DOCUMENT_SEQUENCE]
      ,C.[UNIT_OF_MEASURE]
      ,C.[SOURCE_MODULE]
      ,C.[TRANSACTION_TYPE]
      ,C.[FACTORY]
      ,C.[WAREHOUSE_ZONE]
      ,C.[MOVEMENT_DATE]
      ,C.[SYSTEM_DATE]
      ,C.[USERNAME]
      ,C.[SYS_CALLING_FUNCTION]
      ,C.[IC_STATUS_CODE]
      ,C.[IC_LOT_NUMBER]
      ,C.[IC_LOT_SEQUENCE]
      ,C.[IC_QUANTITY_FIELD]
      ,C.[IC_MOVE_QUANTITY]
      ,C.[IC_PRODUCT_UOM_TYPE]
      ,C.[MOVEMENT_CODE]
      ,C.[TRANSACTION_DESCRIPTION]
      ,C.[PERIOD]
      ,C.[YEAR]
      ,C.[GEM_TRANSACTION_ID]
  FROM [fin_prod].[dbo].[IC_BIN_MOVEMENTS] C
  INNER JOIN DC_LICENSE_PLATE_LINES L
  ON C.COMPANY_CODE = L.COMPANY_CODE
  AND C.PART_CODE=L.PART_CODE
  AND C.IC_LOT_NUMBER = L.IC_LOT_NUMBER
  RIGHT OUTER JOIN DC_LICENSE_PLATES P
  ON P.COMPANY_CODE = L.COMPANY_CODE
  AND P.DC_LICENSE_PLATE_ID = L.DC_LICENSE_PLATE_ID
  WHERE MOVEMENT_DATE < GETDATE()-365
  AND P.DC_LICENSE_PLATE_STATUS IN('INACTIVE','SHIPPED')
  AND C.GEM_DBKEY IS NOT NULL
)

INSERT INTO [fin_prod].[dbo].[AER_IC_BIN_MOVEMENTS_ARC]
           ([COMPANY_CODE]
           ,[WAREHOUSE]
           ,[PART_CODE]
           ,[BIN_LOCATION]
           ,[MH_NUMBER]
           ,[DOCUMENT_NUMBER]
           ,[DOCUMENT_LINE]
           ,[DOCUMENT_SEQUENCE]
           ,[UNIT_OF_MEASURE]
           ,[SOURCE_MODULE]
           ,[TRANSACTION_TYPE]
           ,[FACTORY]
           ,[WAREHOUSE_ZONE]
           ,[MOVEMENT_DATE]
           ,[SYSTEM_DATE]
           ,[USERNAME]
           ,[SYS_CALLING_FUNCTION]
           ,[IC_STATUS_CODE]
           ,[IC_LOT_NUMBER]
           ,[IC_LOT_SEQUENCE]
           ,[IC_QUANTITY_FIELD]
           ,[IC_MOVE_QUANTITY]
           ,[IC_PRODUCT_UOM_TYPE]
           ,[MOVEMENT_CODE]
           ,[TRANSACTION_DESCRIPTION]
           ,[PERIOD]
           ,[YEAR]
           ,[GEM_TRANSACTION_ID]
           ,[OLD_GEM_DBKEY])

(SELECT [COMPANY_CODE]
           ,[WAREHOUSE]
           ,[PART_CODE]
           ,[BIN_LOCATION]
           ,[MH_NUMBER]
           ,[DOCUMENT_NUMBER]
           ,[DOCUMENT_LINE]
           ,[DOCUMENT_SEQUENCE]
           ,[UNIT_OF_MEASURE]
           ,[SOURCE_MODULE]
           ,[TRANSACTION_TYPE]
           ,[FACTORY]
           ,[WAREHOUSE_ZONE]
           ,[MOVEMENT_DATE]
           ,[SYSTEM_DATE]
           ,[USERNAME]
           ,[SYS_CALLING_FUNCTION]
           ,[IC_STATUS_CODE]
           ,[IC_LOT_NUMBER]
           ,[IC_LOT_SEQUENCE]
           ,[IC_QUANTITY_FIELD]
           ,[IC_MOVE_QUANTITY]
           ,[IC_PRODUCT_UOM_TYPE]
           ,[MOVEMENT_CODE]
           ,[TRANSACTION_DESCRIPTION]
           ,[PERIOD]
           ,[YEAR]
           ,[GEM_TRANSACTION_ID]
           ,[OLD_GEM_DBKEY]
FROM #BINMOVEMENTS)

DELETE FROM dbo.IC_BIN_MOVEMENTS
WHERE GEM_DBKEY IN(SELECT GEM_DBKEY FROM #BINMOVEMENTS)

DROP TABLE #BINMOVEMENTS

Select allOpen in new window

In the delete statement's subquery, I had the wrong field selected and the field I put in there doesn't exist. In (SELECT GEM_DBKEY FROM #BINMOVEMENTS) the field GEM_DBKEY should have been OLD_GEM_DBKEY. When I run that subquery select statement, I get the following error.

 /*------------------------
SELECT GEM_DBKEY FROM #BINMOVEMENTS
------------------------*/
Msg 207, Level 16, State 1, Line 1
Invalid column name 'GEM_DBKEY'.

I would expect to get this error if the field isn't found. However, when I ran the delete statement above, it deleted EVERY RECORD in the IC_BIN_MOVEMENTS table. I am hoping someone could explain that to me because it is escaping me now. We are using APEX SQL to try to get the data restored. But it will take a while to restore 22m rows instead of the 5.5m that *should* have been deleted. I'm just trying to understand WHY it deleted anything.