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Segment and Geographic Area Information
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Segment and Geographic Area Information Segment and Geographic Area Information
Segment Information—The tables below show our consolidated segment results. The “All other” category includes the operations of the antiknock compounds business, as well as certain contracted manufacturing and services associated with Ethyl.
The segment accounting policies are the same as those described in Note 1. We evaluate the performance of the petroleum additives business based on segment operating profit. NewMarket Services departments and other expenses are billed to Afton and Ethyl based on the services provided under the holding company structure. Depreciation on segment property, plant, and equipment, as well as amortization of segment intangible assets and lease right-of-use assets for 2020 and 2019 are included in segment operating profit. No transfers occurred between the petroleum additives segment and the “All other” category during the periods presented. The table below reports net sales and operating profit by segment, as well as a reconciliation to income before income tax expense, for the last three years.
Years Ended December 31,
(in thousands)202020192018
Net sales
Petroleum additives
     Lubricant additives$1,686,649 $1,778,473 $1,870,803 
     Fuel additives314,918 397,431 410,000 
          Total2,001,567 2,175,904 2,280,803 
All other9,364 14,391 8,872 
Net sales (a)$2,010,931 $2,190,295 $2,289,675 
Segment operating profit
Petroleum additives$333,241 $359,228 $311,019 
All other(100)(1,562)(3,256)
Segment operating profit333,141 357,666 307,763 
Corporate, general, and administrative expenses(21,744)(20,345)(19,651)
Interest and financing expenses, net(26,328)(29,241)(26,723)
Other income (expense), net46,218 23,510 28,896 
Income before income tax expense$331,287 $331,590 $290,285 
(a)No single customer accounted for 10% or more of our total net sales in 2020, 2019, or 2018.
The following tables show asset information by segment and the reconciliation to consolidated assets. Segment assets consist of accounts receivable, inventory, and long-lived assets. Long-lived assets included in the petroleum additives segment amounts in the table below include property, plant, and equipment (net of depreciation), intangibles (net of amortization) and goodwill, and lease right-of-use assets. The additions to long-lived assets include property, plant, and equipment for all years and lease right-of-use assets for 2020 and 2019.
December 31,
(in thousands)20202019
Segment assets
Petroleum additives$1,557,834 $1,506,690 
All other18,383 14,519 
1,576,217 1,521,209 
Cash and cash equivalents125,172 144,397 
Other accounts receivable 13,566 6,068 
Prepaid expenses and other current assets35,480 33,237 
Non-segment property, plant, and equipment, net
31,839 34,648 
Prepaid pension cost137,069 133,848 
Lease right-of-use assets198 302 
Deferred charges and other assets 14,334 11,423 
Total assets$1,933,875 $1,885,132 
Years Ended December 31,
(in thousands)202020192018
Additions to long-lived assets
Petroleum additives$109,536 $85,711 $72,829 
All other3 28 0 
Corporate2,453 3,076 1,809 
Total additions to long-lived assets$111,992 $88,815 $74,638 
Depreciation and amortization
Petroleum additives$80,811 $84,872 $69,029 
All other52 52 11 
Corporate3,139 2,636 2,719 
Total depreciation and amortization$84,002 $87,560 $71,759 
Geographic Area Information - We have operations in the North America, Latin America, Asia Pacific, and EMEAI regions. Our foreign customers consist primarily of global, national, and independent oil companies.
The tables below report net sales, total assets, and long-lived assets by geographic area, as well as by country for those countries with significant net sales or long-lived assets. Since our foreign operations are significant to our overall business, we are also presenting net sales in the table below by the major regions in which we operate. NewMarket assigns net sales to geographic areas based on the location to which the product was shipped to a third party. Long-lived assets in the table below include property, plant, and equipment, net of depreciation, and lease right-of-use assets.
Years Ended December 31,
(in thousands)202020192018
Net sales
United States$650,654 $728,125 $722,576 
China213,788 225,498 239,406 
Europe, Middle East, Africa, India651,645 700,081 756,258 
Asia Pacific, except China279,847 311,469 335,119 
Other foreign214,997 225,122 236,316 
Net sales $2,010,931 $2,190,295 $2,289,675 
December 31,
(in thousands)20202019
Total assets
United States$763,642 $728,571 
Foreign1,170,233 1,156,561 
Total assets$1,933,875 $1,885,132 
Long-lived assets
United States$312,586 $275,646 
Singapore271,135 287,276 
Other foreign153,529 145,862 
Total long-lived assets$737,250 $708,784