XML 61 R11.htm IDEA: XBRL DOCUMENT v3.19.3

Segment Reporting

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Segment Reporting

NOTE 2 – SEGMENT REPORTING

The Company reports its financial performance based on the following four reportable segments: Fuel Specialties, Performance Chemicals, Oilfield Services and Octane Additives.

The Fuel Specialties, Performance Chemicals and Oilfield Services segments operate in markets where we actively seek growth opportunities although their ultimate customers are different. The Octane Additives segment is expected to decline in the near future as our one remaining refinery customer transitions to unleaded fuel.

The Company evaluates the performance of its segments based on operating income. The following tables analyze sales and other financial information by the Company’s reportable segments:

		Three Months Ended September 30								Nine Months Ended September 30
(in millions)		2019				2018				2019				2018
Net Sales:
Refinery and Performance		$	96.5			$	97.8			$	309.0			$	306.9
Other			47.6				37.1				124.4				105.6
Fuel Specialties			144.1				134.9				433.4				412.5
Personal Care			55.0				60.6				170.9				183.6
Home Care			21.1				28.2				71.2				84.5
Other			23.8				26.0				80.6				89.6
Performance Chemicals			99.9				114.8				322.7				357.7
Oilfield Services			121.4				104.2				358.1				292.1
Octane Additives			6.5				9.2				8.4				19.6
		$	371.9			$	363.1			$	1,122.6			$	1,081.9
Gross profit/(loss):
Fuel Specialties		$	54.1			$	48.8			$	154.5			$	141.8
Performance Chemicals			22.6				25.3				73.2				74.5
Oilfield Services			41.2				33.5				120.4				93.5
Octane Additives			1.2				3.4				(0.1	)			8.5
		$	119.1			$	111.0			$	348.0			$	318.3
Operating income/(loss):
Fuel Specialties		$	31.1			$	28.8			$	88.1			$	80.7
Performance Chemicals			9.3				12.4				33.8				34.2
Oilfield Services			10.0				7.0				27.9				14.1
Octane Additives			0.8				2.7				(1.9	)			6.5
Corporate costs			(13.0	)			(12.7	)			(41.8	)			(40.1	)
Restructuring charge			0.0				(4.8	)			0.0				(4.8	)
Total operating income		$	38.2			$	33.4			$	106.1			$	90.6

The following table presents a summary of the depreciation and amortization charges incurred by the Company’s reportable segments:

		Three Months Ended September 30								Nine Months Ended September 30
(in millions)		2019				2018				2019				2018
Depreciation:
Fuel Specialties		$	0.9			$	1.0			$	2.8			$	2.9
Performance Chemicals			2.8				2.6				8.0				7.8
Oilfield Services			1.7				1.5				5.2				4.6
Octane Additives			0.3				0.3				0.9				0.9
Corporate			0.5				0.3				1.3				0.8
		$	6.2			$	5.7			$	18.2			$	17.0
Amortization:
Performance Chemicals		$	2.2			$	2.3			$	6.6			$	6.8
Oilfield Services			2.6				2.7				7.9				8.1
Corporate			0.9				1.8				2.7				5.5
		$	5.7			$	6.8			$	17.2			$	20.4

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Name:	us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration