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Segment Reporting and Geographical Area Data | 12 Months Ended
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Dec. 31, 2025
Segment Reporting [Abstract] |
Segment Reporting and Geographical Area Data | Note 3. Segment Reporting and Geographical Area Data The Company reports its financial performance based on three reportable segments, which are Performance Chemicals, Fuel Specialties and Oilfield Services. Our Performance Chemicals segment provides innovative technology-based solutions for our customers’ processes or products in 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 chemical products used as additives in diesel, jet, marine, fuel oil and other fuels. Our Oilfield Services segment develops and markets chemical solutions for drilling, completion, production, DRA and oil and gas applications. In 2025 and 2024, the net sales to any single customer did not exceed 10% of the group's net sales. In 2023, the Company had a significant customer in the Oilfield Services segment which accounted for $265.2 million and 13.6% of the group's net sales. The Chief Operating Decision Maker (“CODM”) is the President and Chief Executive Officer (the Principal Executive Officer). The CODM evaluates the performance of the Company’s segments and makes strategic decisions relating to the Company's allocation of resources, based on the segments' monthly gross profit and operating income. The following table analyzes financial information by the Company’s reportable segments:
(in millions) |  | 2025 |  |  | 2024 |  |  | 2023 |
Net Sales: |  |  |  |  |  |  |  |  |
Personal Care |  | $ | 409.2 |  |  | $ | 390.0 |  |  | $ | 352.7 |
Home Care |  |  | 109.0 |  |  |  | 106.6 |  |  |  | 86.8 |
Other |  |  | 163.2 |  |  |  | 157.1 |  |  |  | 122.1 |
Performance Chemicals |  |  | 681.4 |  |  |  | 653.7 |  |  |  | 561.6 |
Refinery and Performance |  |  | 509.4 |  |  |  | 517.4 |  |  |  | 540.6 |
Other |  |  | 192.1 |  |  |  | 183.7 |  |  |  | 155.3 |
Fuel Specialties |  |  | 701.5 |  |  |  | 701.1 |  |  |  | 695.9 |
Oilfield Services |  |  | 395.1 |  |  |  | 490.6 |  |  |  | 691.3 |
Total net sales |  | $ | 1,778.0 |  |  | $ | 1,845.4 |  |  | $ | 1,948.8 |
Gross profit: |  |  |  |  |  |  |  |  |
Performance Chemicals |  |  | 122.0 |  |  |  | 148.4 |  |  |  | 105.6 |
Fuel Specialties |  |  | 252.2 |  |  |  | 239.9 |  |  |  | 215.1 |
Oilfield Services |  |  | 118.2 |  |  |  | 154.6 |  |  |  | 270.4 |
Total gross profit |  | $ | 492.4 |  |  | $ | 542.9 |  |  | $ | 591.1 |
Operating income/(expense): |  |  |  |  |  |  |  |  |
Performance Chemicals |  | $ | 61.0 |  |  | $ | 82.9 |  |  | $ | 54.5 |
Fuel Specialties |  |  | 144.8 |  |  |  | 129.6 |  |  |  | 109.7 |
Oilfield Services |  |  | 23.3 |  |  |  | 38.8 |  |  |  | 78.6 |
Corporate costs |  |  | (72.8 | ) |  |  | (70.2 | ) |  |  | (81.2 | )
Adjustment to fair value of contingent consideration |  |  | 15.9 |  |  |  | (3.4 | ) |  |  | — |
Restructuring charge |  |  | (0.9 | ) |  |  | — |  |  |  | — |
Impairment of property, plant and equipment |  |  | (22.9 | ) |  |  | — |  |  |  | — |
Impairment of intangible assets |  |  | (19.1 | ) |  |  | — |  |  |  | — |
Profit on disposal of property, plant and equipment |  |  | 0.2 |  |  |  | 0.2 |  |  |  | — |
Total operating income |  | $ | 129.5 |  |  | $ | 177.9 |  |  | $ | 161.6 |
Identifiable assets at year-end: |  |  |  |  |  |  |  |  |
Performance Chemicals |  | $ | 602.0 |  |  | $ | 598.3 |  |  |  |
Fuel Specialties |  |  | 625.5 |  |  |  | 553.8 |  |  |  |
Oilfield Services |  |  | 212.2 |  |  |  | 272.5 |  |  |  |
Corporate |  |  | 392.7 |  |  |  | 310.1 |  |  |  |
Total assets |  | $ | 1,832.4 |  |  | $ | 1,734.7 |  |  |  |
The identifiable assets analysis between the Company's reportable segments and Corporate has been updated in 2025, to align with changes made to the information provided to the CODM. The prior year comparatives have not been adjusted to conform to the current period presentation. The difference between net sales and gross profit is defined as cost of goods sold. For further information see the relevant accounting policy within Note 2 of the Notes to the Financial Statements. The difference between segmental gross profit and operating income/(expense) is split between selling, general and administrative expenses and research and development expenses. For further information see the relevant accounting policies within Note 2 of the Notes to the Financial Statements. The following table analyzes cost of goods sold by the Company’s reportable segments:
(in millions) |  | 2025 |  |  | 2024 |  |  | 2023 |
Performance Chemicals |  | $ | 559.4 |  |  | $ | 505.3 |  |  | $ | 456.0 |
Fuel Specialties |  |  | 449.3 |  |  |  | 461.2 |  |  |  | 480.8 |
Oilfield Services |  |  | 276.9 |  |  |  | 336.0 |  |  |  | 420.9 |
Total cost of goods sold |  | $ | 1,285.6 |  |  | $ | 1,302.5 |  |  | $ | 1,357.7 |
The following table analyzes selling, general and administrative expenses and research and development expenses by the Company’s reportable segments:
(in millions) |  | 2025 |  |  | 2024 |  |  | 2023 |
Performance Chemicals |  | $ | 61.0 |  |  | $ | 65.5 |  |  | $ | 51.1 |
Fuel Specialties |  |  | 107.4 |  |  |  | 110.3 |  |  |  | 105.4 |
Oilfield Services |  |  | 94.9 |  |  |  | 115.8 |  |  |  | 191.8 |
Corporate |  |  | 72.8 |  |  |  | 70.2 |  |  |  | 81.2 |
Total selling, general and administrative expenses and research and development expenses |  | $ | 336.1 |  |  | $ | 361.8 |  |  | $ | 429.5 |
The Company includes within the Corporate line item the following costs: • executive offices for the CEO, finance, human resources, legal and compliance counsel, corporate development and investor relations • centralized functions for product strategy, regulatory, ESG, health and safety, tax, treasury, business assurance and credit control • group-wide costs related to asset retirement obligations and information technology The following tables analyze sales and other financial information by location:
(in millions) |  | 2025 |  |  | 2024 |  |  | 2023 |
Net sales by source: |  |  |  |  |  |  |  |  |
United States |  | $ | 951.7 |  |  | $ | 1,039.7 |  |  | $ | 1,227.2 |
United Kingdom |  |  | 793.2 |  |  |  | 823.4 |  |  |  | 857.7 |
Rest of World |  |  | 379.0 |  |  |  | 288.9 |  |  |  | 199.4 |
Sales between areas |  |  | (345.9 | ) |  |  | (306.6 | ) |  |  | (335.5 | )
|  | $ | 1,778.0 |  |  | $ | 1,845.4 |  |  | $ | 1,948.8 |
Income before income taxes: |  |  |  |  |  |  |  |  |
United States |  | $ | 25.9 |  |  | $ | 90.2 |  |  | $ | 95.2 |
United Kingdom |  |  | 67.3 |  |  |  | (24.6 | ) |  |  | 59.1 |
Rest of World |  |  | 44.9 |  |  |  | (24.4 | ) |  |  | 20.1 |
|  | $ | 138.1 |  |  | $ | 41.2 |  |  | $ | 174.4 |
Long-lived assets at year-end: |  |  |  |  |  |  |  |  |
United States |  | $ | 132.6 |  |  | $ | 156.2 |  |  |  |
United Kingdom |  |  | 121.3 |  |  |  | 88.0 |  |  |  |
Rest of World |  |  | 150.4 |  |  |  | 133.6 |  |  |  |
|  | $ | 404.3 |  |  | $ | 377.8 |  |  |  |
Identifiable assets at year-end: |  |  |  |  |  |  |  |  |
United States |  | $ | 555.9 |  |  | $ | 593.6 |  |  |  |
United Kingdom |  |  | 579.1 |  |  |  | 488.2 |  |  |  |
Rest of World |  |  | 298.4 |  |  |  | 270.4 |  |  |  |
Goodwill |  |  | 399.0 |  |  |  | 382.5 |  |  |  |
|  | $ | 1,832.4 |  |  | $ | 1,734.7 |  |  |  |
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. Long-lived assets are related to property, plant and equipment, other intangibles and operating leases. 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 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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