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Segment Reporting and Geographical Area Data
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Segment Reporting
Note 3.     Segment Reporting and Geographical Area Data
The Performance Chemicals, Fuel Specialties and Oilfield Services segments operate in markets where we actively seek growth opportunities although their ultimate customers are different. The Octane Additives segment ceased trading and is no longer a reporting segment from July 1, 2020.
Our Performance Chemicals segment provides effective technology-based solutions for our customers’ processes or products focused in the personal care, home care, agrochemical, mining and other industrial markets.
Our Fuel Specialties segment develops, manufactures, blends, markets and supplies a range of specialty chemicals products used as additives to a wide range of fuels.
Our Oilfield Services segment develops and markets chemical solutions for fracturing, drilling, stimulation and completion operations, products for oil and gas production and transport which aid flow assurance and maintain asset integrity.
The Octane Additives business has ceased trading and is no longer a reporting segment from July 1, 2020 as the production of TEL for use in motor gasoline has finished. Legacy costs related to these operations are now being recorded as operating expenses within corporate costs.
In 2022, the Company had a significant customer in the Oilfield Services segment which accounted for $222.2 million (11.3%) of our net group sales.
The Company evaluates the performance of its segments based on operating income. The following table analyzes sales and other financial information by the Company’s reportable segments:
 
(in millions)
   
2022
     
2021
     
2020
  
Net Sales:
                           
Personal Care
    $ 393.3      $ 296.1      $ 231.4  
Home Care
      94.2        93.0        87.0  
Other
      152.2        136.2        107.0  
    
 
 
     
 
 
     
 
 
  
Performance Chemicals
      639.7        525.3        425.4  
    
 
 
     
 
 
     
 
 
  
Refinery and Performance
      552.6        445.3        372.9  
Other
      177.6        173.0        139.8  
    
 
 
     
 
 
     
 
 
  
Fuel Specialties
      730.2        618.3        512.7  
    
 
 
     
 
 
     
 
 
  
Oilfield Services
      593.8        339.8        255.0  
    
 
 
     
 
 
     
 
 
  
     $ 1,963.7      $ 1,483.4      $ 1,193.1  
    
 
 
     
 
 
     
 
 
  
Operating income/(expense):
                         
Performance Chemicals
    $ 95.3     $ 70.9     $ 54.8  
Fuel Specialties
      121.7       104.6       84.5  
Oilfield Services
      41.7       10.4       (9.5 ) 
Octane Additives
      —         —         (2.8 ) 
Corporate costs
      (71.4 )      (55.6 )      (52.2 ) 
Restructuring charge
      —         —         (21.3 ) 
Impairment of intangible assets
      —         —         (19.8 ) 
Profit on disposal
      —         1.8       —    
    
 
 
    
 
 
    
 
 
  
Total operating income
    $ 187.3     $ 132.1     $ 33.7  
    
 
 
    
 
 
    
 
 
  
Identifiable assets at
year-end:
                         
Performance Chemicals
    $ 610.4     $ 469.5     $ 391.5  
Fuel Specialties
      500.6       571.3       509.7  
Oilfield Services
      297.8       230.8       210.8  
Corporate
      194.9       299.3       285.4  
    
 
 
    
 
 
    
 
 
  
     $ 1,603.7     $ 1,570.9     $ 1,397.4  
    
 
 
    
 
 
    
 
 
  
The Company includes within the corporate costs line item the costs of:
 
  •  
managing the group as a company with securities listed on the NASDAQ and registered with the SEC;
 
  •  
the President/CEO’s office, group finance, group human resources, group legal and compliance counsel, and investor relations;
 
  •  
running the corporate offices in the U.S. and Europe;
 
  •  
the corporate development function since they do not relate to the current trading activities of our other reporting segments; and
 
  •  
the corporate share of the information technology, product technology, safety, health, environment, accounting and human resources departments.
The following tables analyze sales and other financial information by location:
 
(in millions)
   
2022
    
2021
    
2020
  
Net sales by source:
       
United States & North America
    $ 1,244.9     $ 821.6     $ 642.4  
United Kingdom
      932.5       811.9       689.1  
Rest of Europe
      116.9       115.6       83.4  
Rest of World
      67.7       66.4       45.6  
Sales between areas
      (398.3 )      (332.1 )      (267.4 ) 
  
 
 
    
 
 
    
 
 
  
   $ 1,963.7     $ 1,483.4     $ 1,193.1  
  
 
 
    
 
 
    
 
 
  
Income before income taxes:
       
United States & North America
    $ 109.1     $ 54.6     $ —    
United Kingdom
      42.9       46.1       16.9  
Rest of Europe
      25.5       26.4       19.7  
Rest of World
      7.1       7.3       3.1  
  
 
 
    
 
 
    
 
 
  
   $ 184.6     $ 134.4     $ 39.7  
  
 
 
    
 
 
    
 
 
  
Long-lived assets at
year-end:
       
United States & North America
    $ 147.0     $ 137.3     $ 141.0  
United Kingdom
      50.6       55.4       61.3  
Rest of Europe
      112.4       112.0       123.2  
Rest of World
      0.2       0.2       0.2  
  
 
 
    
 
 
    
 
 
  
   $ 310.2     $ 304.9     $ 325.7  
  
 
 
    
 
 
    
 
 
  
Identifiable assets at
year-end:
       
United States & North America
    $ 570.9     $ 464.9     $ 368.8  
United Kingdom
      462.3       533.7       455.8  
Rest of Europe
      164.0       164.7       171.0  
Rest of World
      47.7       43.3       30.6  
Goodwill
      358.8       364.3       371.2  
  
 
 
    
 
 
    
 
 
  
   $ 1,603.7     $ 1,570.9     $ 1,397.4  
  
 
 
    
 
 
    
 
 
  
Sales by geographical area are reported by source, being where the transactions originated. Intercompany sales are priced using an appropriate pricing methodology and are eliminated in the consolidated financial statements.
Identifiable assets are those directly associated with the operations of the geographical area.
Goodwill has not been allocated by geographical location on the grounds that it would be impracticable to do so.