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Business Segments (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of information about the performance of the Company's reportable segments, sales and total assets

The following table presents information about the performance of the Company’s reportable segments for the years ended December 31, 2024, 2023 and 2022.

			Americas						EMEA						Asia/Pacific						Totals
2024
Net sales			$	882,131					$	536,435					$	421,120					$	1,839,686
Significant segment expenses
Product costs (1)			427,399						286,330						216,432						930,161
Other operating expenses (2)			210,775						150,679						81,950						443,404
Segment operating earnings			$	243,957					$	99,426					$	122,738					$	466,121
2023
Net sales			$	977,095					$	571,347					$	404,871					$	1,953,313
Significant segment expenses
Product costs (1)			497,690						318,279						209,422						1,025,391
Other operating expenses (2)			213,369						148,257						76,991						438,617
Segment operating earnings			$	266,036					$	104,811					$	118,458					$	489,305
2022
Net sales			$	946,516					$	562,508					$	434,561					$	1,943,585
Significant segment expenses
Product costs (1)			519,705						340,864						249,493						1,110,062
Other operating expenses (2)			203,182						145,280						79,226						427,688
Segment operating earnings			$	223,629					$	76,364					$	105,842					$	405,835

(1) Product costs include the costs of raw materials and are recorded in Cost of goods sold in the Company’s Consolidated Statements of Operations.

(2) Other operating expenses include overhead costs of operating the Company’s production facilities and providing chemical management services to customers and direct SG&A costs.

The following table presents a reconciliation of the Company’s segment operating earnings to income before taxes and equity in net income of associated companies in the Company’s Consolidated Statements of Operations for the years ended December 31, 2024, 2023 and 2022.

			2024						2023						2022
Segment operating earnings			$	466,121					$	489,305					$	405,835
Restructuring and related charges, net			(6,530)						(7,588)						(3,163)
Impairment charges			—						—						(93,000)
Non-operating and administrative expenses			(203,956)						(206,398)						(196,620)
Depreciation of corporate assets and amortization			(60,929)						(60,824)						(60,748)
Operating income			$	194,706					$	214,495					$	52,304
Other income (expense), net			1,354						(10,672)						(12,607)
Interest expense, net			(41,002)						(50,699)						(32,579)
Income before taxes and equity in net income of associated companies			$	155,058					$	153,124					$	7,118

The following tables present information regarding the Company’s reportable segments’ assets and long-lived assets, excluding goodwill, as of December 31, 2024, 2023 and 2022. Management does not use goodwill by segment to evaluate performance or allocate resources.

Segment assets, excluding goodwill						2024						2023						2022
Americas						$	834,327					$	903,319					$	1,196,906
EMEA						650,045						703,338						583,861
Asia/Pacific						607,383						595,036						525,847
Total segment assets						$	2,091,755					$	2,201,693					$	2,306,614

The following tables summarize net sales and long-lived assets attributable to U.S. and non-U.S. domiciled operations for the years ended December 31, 2024, 2023 and 2022:

Net sales						2024						2023						2022
United States						$	637,755					$	718,742					$	696,885
China						230,622						231,331						265,418
Other foreign operations						971,309						1,003,240						981,282
Total net sales						$	1,839,686					$	1,953,313					$	1,943,585

All inter-segment transactions have been eliminated from each reportable segment’s net sales and earnings for all periods presented in the above tables. The following table summarizes inter-segment revenues for the years ended December 31, 2024, 2023 and 2022:

Inter-segment revenues						2024						2023						2022
Americas						$	9,300					$	9,005					$	11,552
EMEA						19,781						24,865						44,605
Asia/Pacific						6,397						2,651						957

Schedule of reportable segments' long-lived assets, including certain identifiable assets

Segment long-lived assets						2024						2023						2022
Americas						$	164,450					$	159,015					$	150,294
EMEA						80,668						83,488						87,279
Asia/Pacific						133,906						123,846						120,761
Total segment long-lived assets						$	379,024					$	366,349					$	358,334

Long-lived assets						2024						2023						2022
United States						$	217,687					$	217,834					$	201,960
Foreign operations						161,337						148,515						156,374
Total long-lived assets						$	379,024					$	366,349					$	358,334

Reconciliation of capital expenditures and depreciation for identifiable assets

The following tables present information regarding the Company’s reportable segments’ capital expenditures and depreciation for identifiable assets for the years ended December 31, 2024, 2023 and 2022:

Capital expenditures						2024						2023						2022
Americas						$	21,191					$	25,650					$	19,121
EMEA						11,989						7,561						6,065
Asia/Pacific						8,614						5,589						3,353
Total segment capital expenditures						$	41,794					$	38,800					$	28,539

Depreciation						2024						2023						2022
Americas						$	13,646					$	12,298					$	11,723
EMEA						7,641						7,321						6,608
Asia/Pacific						4,608						4,214						4,593
Total segment depreciation						$	25,895					$	23,833					$	22,924

X

- Definition

Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets.

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Tabular disclosure of reconciliation of other items from reportable segments to their consolidated amount. Excludes reconciliation of revenue, profit (loss), and assets.

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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