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Business Segments (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting, Measurement Disclosures [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following table presents information about the performance of the Company’s reportable segments for the three and six months ended June 30, 2025 and 2024:
| Americas |  | EMEA |  | Asia/Pacific |  | Totals |
Three Months Ended June 30, 2025 |  |  |  |  |  |  |  |
Net sales | $ | 221,062 |  |  | $ | 139,923 |  |  | $ | 122,415 |  |  | $ | 483,400 |  |
Significant segment expenses |  |  |  |  |  |  |  |
Product costs (1) (3) (4) | 109,500 |  |  | 74,739 |  |  | 67,731 |  |  | 251,970 |  |
Other operating expenses (2) | 52,586 |  |  | 40,189 |  |  | 25,969 |  |  | 118,744 |  |
Segment operating earnings | $ | 58,976 |  |  | $ | 24,995 |  |  | $ | 28,715 |  |  | $ | 112,686 |  |
Six Months Ended June 30, 2025 |  |  |  |  |  |  |  |
Net sales | $ | 434,773 |  |  | $ | 269,201 |  |  | $ | 222,340 |  |  | $ | 926,314 |  |
Significant segment expenses |  |  |  |  |  |  |  |
Product costs (1) (3) (4) | 214,005 |  |  | 144,841 |  |  | 120,829 |  |  | 479,675 |  |
Other operating expenses (2) | 103,330 |  |  | 75,972 |  |  | 46,866 |  |  | 226,168 |  |
Segment operating earnings | $ | 117,438 |  |  | $ | 48,388 |  |  | $ | 54,645 |  |  | $ | 220,471 |  |
| Americas |  | EMEA |  | Asia/Pacific |  | Totals
Three Months Ended June 30, 2024 |  |  |  |  |  |  |
Net sales | $ | 223,517 |  |  | $ | 138,001 |  |  | $ | 102,049 |  |  | $ | 463,567 |
Significant segment expenses |  |  |  |  |  |  |
Product costs (1) | 107,973 |  |  | 72,391 |  |  | 51,427 |  |  | 231,791 |
Other operating expenses (2) | 51,407 |  |  | 38,958 |  |  | 19,622 |  |  | 109,987 |
Segment operating earnings | $ | 64,137 |  |  | $ | 26,652 |  |  | $ | 31,000 |  |  | $ | 121,789 |
Six Months Ended June 30, 2024 |  |  |  |  |  |  |
Net sales | $ | 453,271 |  |  | $ | 276,423 |  |  | $ | 203,632 |  |  | $ | 933,326 |
Significant segment expenses |  |  |  |  |  |  |
Product costs (1) | 219,048 |  |  | 143,763 |  |  | 102,802 |  |  | 465,613 |
Other operating expenses (2) | 103,317 |  |  | 76,437 |  |  | 39,453 |  |  | 219,207 |
Segment operating earnings | $ | 130,906 |  |  | $ | 56,223 |  |  | $ | 61,377 |  |  | $ | 248,506 |
(1) Product costs include the costs of raw materials and are recorded in Cost of goods sold in the Company’s Condensed 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. (3) Product costs includes the $6.0 million amortization of the fair value step-up in Dipsol's inventories as a result of the acquisition, which is comprised of approximately $2.6 million in the Americas segment, $3.0 million in the Asia/Pacific segment, and $0.4 million in the EMEA segment. (4) Product costs includes a $3.6 million gain related to immaterial out-of-period adjustments for inventory, which is comprised of approximately $1.4 million in the Americas segment and $2.2 million in the EMEA segment. The following table presents a reconciliation of the Company’s segment operating earnings to (loss) income before taxes and equity in net income of associated companies in the Company’s Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2025 and 2024:
| Three Months Ended June 30, |  | Six Months Ended June 30, |
| 2025 |  | 2024 |  | 2025 |  | 2024 |
Segment operating earnings | $ | 112,686 |  |  | $ | 121,789 |  |  | $ | 220,471 |  |  | $ | 248,506 |  |
Restructuring and related charges, net | (8,793) |  |  | (320) |  |  | (23,383) |  |  | (2,177) |  |
Impairment charges | (88,840) |  |  | — |  |  | (88,840) |  |  | — |  |
Non-operating and administrative expenses | (50,860) |  |  | (47,584) |  |  | (101,577) |  |  | (101,760) |  |
Depreciation of corporate assets and amortization | (16,703) |  |  | (15,436) |  |  | (31,557) |  |  | (30,594) |  |
Operating (loss) income | (52,510) |  |  | 58,449 |  |  | (24,886) |  |  | 113,975 |  |
Other (expense) income, net | (653) |  |  | 422 |  |  | (1,362) |  |  | 1,502 |  |
Interest expense | (12,779) |  |  | (10,754) |  |  | (22,324) |  |  | (21,578) |  |
(Loss) income before taxes and equity in net income of associated companies | $ | (65,942) |  |  | $ | 48,117 |  |  | $ | (48,572) |  |  | $ | 93,899 |  |
The following table presents information regarding the Company’s reportable segments’ depreciation for the three and six months ended June 30, 2025 and 2024:
|  | Three Months Ended June 30, |  | Six Months Ended June 30, |
Depreciation |  | 2025 |  | 2024 |  | 2025 |  | 2024 |
Americas |  | $ | 2,903 |  |  | $ | 2,720 |  |  | $ | 5,558 |  |  | $ | 5,495 |  |
EMEA |  | 2,076 |  |  | 1,910 |  |  | 3,953 |  |  | 3,756 |  |
Asia/Pacific |  | 1,996 |  |  | 1,115 |  |  | 3,210 |  |  | 2,138 |  |
Total segment depreciation |  | $ | 6,975 |  |  | $ | 5,745 |  |  | $ | 12,721 |  |  | $ | 11,389 |  |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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