XML 44 R31.htm IDEA: XBRL DOCUMENT
v3.26.1

Business Segments (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2026
Segment Reporting, Measurement Disclosures [Abstract] |
Segment Reporting | The following table presents information about the performance of the Company’s reportable segments for the three and six months ended June 30, 2026 and 2025:
| Americas |  | EMEA |  | Asia/Pacific |  | Totals |
Three Months Ended June 30, 2026 |  |  |  |  |  |  |  |
Net sales (1) | $ | 236,513 |  |  | $ | 158,436 |  |  | $ | 137,601 |  |  | $ | 532,550 |  |
Significant segment expenses |  |  |  |  |  |  |  |
Product costs (2) | 120,870 |  |  | 84,509 |  |  | 73,095 |  |  | 278,474 |  |
Other segment items (3) | 58,402 |  |  | 41,187 |  |  | 27,947 |  |  | 127,536 |  |
Segment operating earnings | $ | 57,241 |  |  | $ | 32,740 |  |  | $ | 36,559 |  |  | $ | 126,540 |  |
Six Months Ended June 30, 2026 |  |  |  |  |  |  |  |
Net sales (1) | $ | 450,241 |  |  | $ | 300,519 |  |  | $ | 262,269 |  |  | $ | 1,013,029 |  |
Significant segment expenses |  |  |  |  |  |  |  |
Product costs (2) | 226,957 |  |  | 157,539 |  |  | 137,506 |  |  | 522,002 |  |
Other segment items (3) | 112,096 |  |  | 84,679 |  |  | 53,928 |  |  | 250,703 |  |
Segment operating earnings | $ | 111,188 |  |  | $ | 58,301 |  |  | $ | 70,835 |  |  | $ | 240,324 |  |
| Americas |  | EMEA |  | Asia/Pacific |  | Totals
Three Months Ended June 30, 2025 |  |  |  |  |  |  |
Net sales (1) | $ | 221,062 |  |  | $ | 139,923 |  |  | $ | 122,415 |  |  | $ | 483,400 |
Significant segment expenses |  |  |  |  |  |  |
Product costs (2) (4) (5) | 109,500 |  |  | 74,739 |  |  | 67,731 |  |  | 251,970 |
Other segment items (3) | 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 (1) | $ | 434,773 |  |  | $ | 269,201 |  |  | $ | 222,340 |  |  | $ | 926,314 |
Significant segment expenses |  |  |  |  |  |  |
Product costs (2) (4) (5) | 214,005 |  |  | 144,841 |  |  | 120,829 |  |  | 479,675 |
Other segment items (3) | 103,330 |  |  | 75,972 |  |  | 46,866 |  |  | 226,168 |
Segment operating earnings | $ | 117,438 |  |  | $ | 48,388 |  |  | $ | 54,645 |  |  | $ | 220,471 |
(1) Net sales relate to external customers only. All intersegment sales are eliminated in consolidation. (2) 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. (3) Other segment items include overhead costs of operating the Company’s production facilities and providing chemical management services to customers and direct SG&A costs. (4) Product costs includes the $6.0 million amortization of the fair value step-up in Dipsol's inventories as a result of the acquisition during the three and six months ended June 30, 2025, 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. (5) Product costs includes a $3.6 million gain related to immaterial out-of-period adjustments for inventory during the three and six months ended June 30, 2025, 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 income (loss) 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, 2026 and 2025:
| Three Months Ended June 30, |  | Six Months Ended June 30, |
| 2026 |  | 2025 |  | 2026 |  | 2025 |
Segment operating earnings | $ | 126,540 |  |  | $ | 112,686 |  |  | $ | 240,324 |  |  | $ | 220,471 |  |
Restructuring and related charges, net | (8,116) |  |  | (8,793) |  |  | (15,497) |  |  | (23,383) |  |
Impairment charges | — |  |  | (88,840) |  |  | — |  |  | (88,840) |  |
Non-operating and administrative expenses | (60,203) |  |  | (50,860) |  |  | (115,290) |  |  | (101,577) |  |
Depreciation of corporate assets and amortization | (17,618) |  |  | (16,703) |  |  | (35,345) |  |  | (31,557) |  |
Operating income (loss) | 40,603 |  |  | (52,510) |  |  | 74,192 |  |  | (24,886) |  |
Other income (expense), net | 406 |  |  | (653) |  |  | 383 |  |  | (1,362) |  |
Interest expense | (9,873) |  |  | (12,779) |  |  | (19,752) |  |  | (22,324) |  |
Income (loss) before taxes and equity in net income of associated companies | $ | 31,136 |  |  | $ | (65,942) |  |  | $ | 54,823 |  |  | $ | (48,572) |  |
The following table presents information regarding the Company’s reportable segments’ depreciation for the three and six months ended June 30, 2026 and 2025:
|  | Three Months Ended June 30, |  | Six Months Ended June 30, |
Depreciation |  | 2026 |  | 2025 |  | 2026 |  | 2025 |
Americas |  | $ | 3,205 |  |  | $ | 2,903 |  |  | $ | 6,672 |  |  | $ | 5,558 |  |
EMEA |  | 2,396 |  |  | 2,076 |  |  | 4,804 |  |  | 3,953 |  |
Asia/Pacific |  | 2,151 |  |  | 1,996 |  |  | 4,190 |  |  | 3,210 |  |
Total segment depreciation |  | $ | 7,752 |  |  | $ | 6,975 |  |  | $ | 15,666 |  |  | $ | 12,721 |  |

X
- Definition Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26A Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingMeasurementDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration