XML 26 R13.htm IDEA: XBRL DOCUMENT v3.26.1
Net Sales and Revenue Recognition
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Net Sales and Revenue Recognition Net Sales and Revenue Recognition
Customer Concentration
A significant portion of the Company’s revenues are realized from the sale of process fluids and services to manufacturers of steel, aluminum, automotive, aerospace, industrial and agricultural equipment, and durable goods. As previously disclosed in the Company’s 2025 Form 10-K, the Company’s five largest customers combined (each composed of multiple subsidiaries or divisions with semiautonomous purchasing authority) accounted for approximately 11% of consolidated net sales for 2025, with its largest customer accounting for approximately 3% of consolidated net sales.
Contract Assets and Liabilities
The Company had no material contract assets recorded on its Condensed Consolidated Balance Sheets as of June 30, 2026 or December 31, 2025.
The Company had approximately $4.2 million and $3.6 million of deferred revenue as of June 30, 2026 and December 31, 2025, respectively. For the six months ended June 30, 2026, the Company satisfied materially all of the associated performance obligations and recognized into revenue materially all advance payments received and recorded as of December 31, 2025.
Disaggregated Revenue
The Company sells its industrial process fluids, specialty chemicals and technical expertise as a global product portfolio. The Company generally manages and evaluates its performance by reportable segment first, and then by customer industries. Net sales of each of the Company’s major product lines are generally spread throughout all three of the Company’s reportable segments, and in most cases, are approximately proportionate to the level of total sales in each reportable segment.
The following tables disaggregate the Company’s net sales by segment and customer industry.
Three Months Ended June 30, 2026
Customer IndustriesAmericasEMEAAsia/PacificConsolidated
Total
Metals$71,560 $39,091 $57,580 $168,231 
Metalworking and other164,953 119,345 80,021 364,319 
$236,513 $158,436 $137,601 $532,550 
Six Months Ended June 30, 2026
Customer IndustriesAmericasEMEAAsia/PacificConsolidated
Total
Metals$136,420 $75,017 $108,719 $320,156 
Metalworking and other313,821 225,502 153,550 692,873 
$450,241 $300,519 $262,269 $1,013,029 
Three Months Ended June 30, 2025
Customer IndustriesAmericasEMEAAsia/PacificConsolidated
Total
Metals$62,825 $36,348 $55,782 $154,955 
Metalworking and other158,237 103,575 66,633 328,445 
$221,062 $139,923 $122,415 $483,400 
Six Months Ended June 30, 2025
Customer IndustriesAmericasEMEAAsia/PacificConsolidated
Total
Metals$127,121 $69,308 $105,649 $302,078 
Metalworking and other307,652 199,893 116,691 624,236 
$434,773 $269,201 $222,340 $926,314