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Segment Reporting
 9 Months Ended
Sep. 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

September 30
     
Nine Months Ended
September 30
  
(in millions)
   
2021
     
2020
     
2021
     
2020
  
Net Sales:
                                    
Refinery and Performance
    $
113.8
      $
86.8
      $
307.9
       
270.3
  
Other
     
42.6
       
33.2
       
130.9
       
104.1
  
    
 
 
     
 
 
     
 
 
     
 
 
  
Fuel Specialties
     
156.4
       
120.0
       
438.8
       
374.4
  
    
 
 
     
 
 
     
 
 
     
 
 
  
Personal Care
     
75.8
       
57.1
       
217.8
       
169.9
  
Home Care
     
24.4
       
21.6
       
68.7
       
64.5
  
Other
     
32.6
       
23.3
       
100.4
       
76.4
  
    
 
 
     
 
 
     
 
 
     
 
 
  
Performance Chemicals
     
132.8
       
102.0
       
386.9
       
310.8
  
    
 
 
     
 
 
     
 
 
     
 
 
  
Oilfield Services
     
86.9
       
43.1
       
244.5
       
197.1
  
    
 
 
     
 
 
     
 
 
     
 
 
  
     $
376.1
      $
265.1
      $
1,070.2
       
882.3
  
    
 
 
     
 
 
     
 
 
     
 
 
  
Gross profit/(loss):
                                    
Fuel Specialties
    $
49.1
      $
40.3
      $
144.1
       
116.9
  
Performance Chemicals
     
32.6
       
24.0
       
95.6
       
76.5
  
Oilfield Services
     
31.2
       
14.4
       
82.3
       
60.5
  
Octane Additives
     
0.0
       
0.0
       
0.0
       
(2.2
 ) 
    
 
 
     
 
 
     
 
 
     
 
 
  
     $
112.9
      $
78.7
      $
322.0
       
251.7
  
    
 
 
     
 
 
     
 
 
     
 
 
  
Operating income/(loss):
                                    
Fuel Specialties
    $
26.6
      $
22.2
      $
78.9
       
59.0
  
Performance Chemicals
     
17.8
       
12.4
       
54.0
       
40.2
  
Oilfield Services
     
2.7
       
(4.5
 )      
6.1
       
(9.7
 ) 
Octane Additives
     
0.0
       
0.0
       
0.0
       
(2.8
 ) 
Corporate costs
     
(15.7
 )      
(13.3
 )      
(42.4
 )      
(41.5
 ) 
Restructuring charge
     
0.0
       
0.0
       
0.0
       
(21.1
 ) 
Impairment of intangible assets
     
0.0
       
0.0
       
0.0
       
(19.8
 ) 
    
 
 
     
 
 
     
 
 
     
 
 
  
Total operating income
    $
31.4
      $
16.8
      $
96.6
       
4.3