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Segment Reporting
 6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Segment Reporting
NOTE 2 – SEGMENT REPORTING
The Company reports its financial performance based on the following three reportable segments: Fuel Specialties, Performance Chemicals and Oilfield Services.
The Fuel Specialties, Performance Chemicals and Oilfield Services segments operate in markets where we actively seek growth opportunities although their ultimate customers are different. Our previously reported Octane Additives segment ceased trading in the second quarter of 2020.
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

June 30
     
Six Months Ended
June 30
  
(in millions)
   
2021
     
2020
     
2021
     
2020
  
Net Sales:
                                    
Refinery and Performance
    $ 94.8      $ 74.9      $ 194.1        183.5  
Other
      48.3        32.5        88.3        70.9  
    
 
 
     
 
 
     
 
 
     
 
 
  
Fuel Specialties
      143.1        107.4        282.4        254.4  
    
 
 
     
 
 
     
 
 
     
 
 
  
Personal Care
      73.8        49.8        142.0        112.8  
Home Care
      21.3        21.3        44.3        42.9  
Other
      33.1        24.6        67.8        53.1  
    
 
 
     
 
 
     
 
 
     
 
 
  
Performance Chemicals
      128.2        95.7        254.1        208.8  
    
 
 
     
 
 
     
 
 
     
 
 
  
Oilfield Services
      83.2        41.8        157.6        154.0  
    
 
 
     
 
 
     
 
 
     
 
 
  
     $ 354.5      $ 244.9      $ 694.1        617.2  
    
 
 
     
 
 
     
 
 
     
 
 
  
Gross profit/(loss):
                                    
Fuel Specialties
    $ 50.1      $ 25.4      $ 95.0        76.6  
Performance Chemicals
      31.6        24.9        63.0        52.5  
Oilfield Services
      26.6        9.9        51.1        46.1  
Octane Additives
      0.0        (1.1 )       0.0        (2.2 ) 
    
 
 
     
 
 
     
 
 
     
 
 
  
     $ 108.3      $ 59.1      $ 209.1        173.0  
    
 
 
     
 
 
     
 
 
     
 
 
  
Operating income/(loss):
                                    
Fuel Specialties
    $ 28.5      $ 4.7      $ 52.3        36.8  
Performance Chemicals
      17.9        12.2        36.2        27.8  
Oilfield Services
      2.2        (12.4 )       3.4        (5.2 ) 
Octane Additives
      0.0        (1.6 )       0.0        (2.8 ) 
Corporate costs
      (11.6 )       (15.4 )       (26.7 )       (28.2 ) 
Restructuring charge
      0.0        (21.1 )       0.0        (21.1 ) 
Impairment of intangible assets
      0.0        (19.8 )       0.0        (19.8 ) 
    
 
 
     
 
 
     
 
 
     
 
 
  
Total operating income
    $ 37.0      $ (53.4 )     $ 65.2        (12.5 )