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Segment Reporting | 6 Months Ended
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Jun. 30, 2019
Segment Reporting [Abstract] |
Segment Reporting |
13. | SEGMENT REPORTING
The Company has three reportable segments: Surfactants, Polymers and Specialty Products. Net sales by segment for the three and six months ended June 30, 2019 and 2018, were as follows:
(In thousands) |  | Three Months Ended June 30 |  |  | Six Months Ended June 30 |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Segment Net Sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Surfactants |  | $ | 313,380 |  |  | $ | 356,884 |  |  | $ | 663,030 |  |  | $ | 715,824 |
Polymers |  |  | 140,636 |  |  |  | 140,867 |  |  |  | 260,815 |  |  |  | 262,800 |
Specialty Products |  |  | 18,987 |  |  |  | 22,115 |  |  |  | 38,328 |  |  |  | 40,577 |
Total |  | $ | 473,003 |  |  | $ | 519,866 |  |  | $ | 962,173 |  |  | $ | 1,019,201 |
Segment operating income and reconciliations of segment operating income to income before provision for income taxes for the three and six months ended June 30, 2019 and 2018, are summarized below:
(In thousands) |  | Three Months Ended June 30 |  |  | Six Months Ended June 30 |
|  | 2019 |  |  | 2018 As Adjusted |  |  | 2019 |  |  | 2018 As Adjusted |
Segment Operating Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Surfactants(1) |  | $ | 32,086 |  |  | $ | 34,078 |  |  | $ | 69,253 |  |  | $ | 75,546 |
Polymers(1) |  |  | 22,760 |  |  |  | 20,299 |  |  |  | 34,865 |  |  |  | 37,604 |
Specialty Products |  |  | 5,982 |  |  |  | 4,240 |  |  |  | 9,113 |  |  |  | 3,890 |
Segment operating income(1) |  |  | 60,828 |  |  |  | 58,617 |  |  |  | 113,231 |  |  |  | 117,040 |
Business restructuring |  |  | (450 | ) |  |  | (273 | ) |  |  | (1,183 | ) |  |  | (631 | )
Unallocated corporate expenses(2) |  |  | (19,313 | ) |  |  | (12,958 | ) |  |  | (41,245 | ) |  |  | (29,740 | )
Consolidated operating income(1) |  |  | 41,065 |  |  |  | 45,386 |  |  |  | 70,803 |  |  |  | 86,669 |
Interest expense, net |  |  | (1,766 | ) |  |  | (2,672 | ) |  |  | (3,619 | ) |  |  | (5,823 | )
Other, net |  |  | 235 |  |  |  | 484 |  |  |  | 3,380 |  |  |  | 1,644 |
Income before provision for income taxes(1) |  | $ | 39,534 |  |  | $ | 43,198 |  |  | $ | 70,564 |  |  | $ | 82,490 |
| (1) | The 2018 amounts for the noted line items have been retrospectively changed from the amounts originally reported as a result of the Company’s first quarter 2019 change in method of accounting for U.S. inventory valuation from LIFO to FIFO. |
| (2) | Unallocated corporate expenses primarily comprise corporate administrative expenses (e.g., corporate finance, legal, human resources, information systems, deferred compensation and environmental remediation) that are not included in segment operating income and not used to evaluate segment performance. |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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