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Segment Reporting and Geographical Area Data | 12 Months Ended
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Dec. 31, 2023
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. Our Performance Chemicals segment provides effective technology-based solutions for our customers’ processes or products focused in the personal care, home care, agrochemical, construction, 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. In 2023, the Company had a significant customer in the Oilfield Services segment which accounted for $265.2 million (13.6%) of our net group sales (2022 - $222.2 million and 11.3%). 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) |  | 2023 |  |  | 2022 |  |  | 2021 |
Net Sales: |  |  |  |  |  |  |  |  |
Personal Care |  | $ | 352.7 |  |  | $ | 393.3 |  |  | $ | 296.1 |
Home Care |  |  | 86.8 |  |  |  | 94.2 |  |  |  | 93.0 |
Other |  |  | 122.1 |  |  |  | 152.2 |  |  |  | 136.2 |
Performance Chemicals |  |  | 561.6 |  |  |  | 639.7 |  |  |  | 525.3 |
Refinery and Performance |  |  | 540.6 |  |  |  | 552.6 |  |  |  | 445.3 |
Other |  |  | 155.3 |  |  |  | 177.6 |  |  |  | 173.0 |
Fuel Specialties |  |  | 695.9 |  |  |  | 730.2 |  |  |  | 618.3 |
Oilfield Services |  |  | 691.3 |  |  |  | 593.8 |  |  |  | 339.8 |
|  | $ | 1,948.8 |  |  | $ | 1,963.7 |  |  | $ | 1,483.4 |
Operating income/(expense): |  |  |  |  |  |  |  |  |
Performance Chemicals |  | $ | 54.5 |  |  | $ | 95.3 |  |  | $ | 70.9 |
Fuel Specialties |  |  | 109.7 |  |  |  | 121.7 |  |  |  | 104.6 |
Oilfield Services |  |  | 78.6 |  |  |  | 41.7 |  |  |  | 10.4 |
Corporate costs |  |  | (81.2 | ) |  |  | (71.4 | ) |  |  | (55.6 | )
Profit on disposal |  |  | — |  |  |  | — |  |  |  | 1.8 |
Total operating income |  | $ | 161.6 |  |  | $ | 187.3 |  |  | $ | 132.1 |
Identifiable assets at year-end: |  |  |  |  |  |  |  |  |
Performance Chemicals |  | $ | 580.1 |  |  | $ | 610.4 |  |  | $ | 469.5 |
Fuel Specialties |  |  | 529.2 |  |  |  | 500.6 |  |  |  | 571.3 |
Oilfield Services |  |  | 310.8 |  |  |  | 297.8 |  |  |  | 230.8 |
Corporate |  |  | 287.3 |  |  |  | 194.9 |  |  |  | 299.3 |
|  | $ | 1,707.4 |  |  | $ | 1,603.7 |  |  | $ | 1,570.9 |
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 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) |  | 2023 |  |  | 2022 |  |  | 2021 |
Net sales by source: |  |  |  |  |  |  |  |  |
United States & North America |  | $ | 1,272.8 |  |  | $ | 1,244.9 |  |  | $ | 821.6 |
Europe |  |  | 958.9 |  |  |  | 1,049.4 |  |  |  | 927.5 |
Rest of World |  |  | 51.0 |  |  |  | 67.7 |  |  |  | 66.4 |
Sales between areas |  |  | (333.9 | ) |  |  | (398.3 | ) |  |  | (332.1 | )
|  | $ | 1,948.8 |  |  | $ | 1,963.7 |  |  | $ | 1,483.4 |
Income before income taxes: |  |  |  |  |  |  |  |  |
United States & North America |  | $ | 107.8 |  |  | $ | 109.1 |  |  | $ | 54.6 |
Europe |  |  | 81.7 |  |  |  | 68.4 |  |  |  | 72.5 |
Rest of World |  |  | (15.1 | ) |  |  | 7.1 |  |  |  | 7.3 |
|  | $ | 174.4 |  |  | $ | 184.6 |  |  | $ | 134.4 |
Long-lived assets at year-end: |  |  |  |  |  |  |  |  |
United States & North America |  | $ | 156.4 |  |  | $ | 147.0 |  |  | $ | 137.3 |
Europe |  |  | 193.9 |  |  |  | 163.0 |  |  |  | 167.4 |
Rest of World |  |  | 17.3 |  |  |  | 0.2 |  |  |  | 0.2 |
|  | $ | 367.6 |  |  | $ | 310.2 |  |  | $ | 304.9 |
Identifiable assets at year-end: |  |  |  |  |  |  |  |  |
United States & North America |  | $ | 630.2 |  |  | $ | 570.9 |  |  | $ | 464.9 |
Europe |  |  | 605.9 |  |  |  | 626.3 |  |  |  | 698.4 |
Rest of World |  |  | 72.0 |  |  |  | 47.7 |  |  |  | 43.3 |
Goodwill |  |  | 399.3 |  |  |  | 358.8 |  |  |  | 364.3 |
|  | $ | 1,707.4 |  |  | $ | 1,603.7 |  |  | $ | 1,570.9 |
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.

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- 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://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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