XML 134 R27.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Segment Reporting | 12 Months Ended
--- | ---
Dec. 31, 2019
Segment Reporting [Abstract] |
Segment Reporting | 18. Segment Reporting The Company has three reportable segments: Surfactants, Polymers and Specialty Products. Each segment provides distinct products and requires separate management due to unique markets, technologies and production processes. Surfactants are used in a variety of consumer and industrial cleaning compounds as well as in agricultural products, lubricating ingredients, oil field chemicals and other specialized applications. Polymers are used primarily in plastics, building materials, refrigeration systems and CASE applications. Specialty Products are used in food, flavoring, nutritional supplement and pharmaceutical applications. The Company evaluates the performance of its segments and allocates resources based on operating income before interest expense, other income/expense items and income tax provision. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies. The following is segment data for the three years ended December 31, 2019, 2018 and 2017:
(In thousands) |  | Surfactants |  |  | Polymers |  |  | Specialty Products |  |  | Segment Totals |
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 1,272,723 |  |  | $ | 512,347 |  |  | $ | 73,675 |  |  | $ | 1,858,745 |
Operating income |  |  | 122,780 |  |  |  | 69,567 |  |  |  | 16,415 |  |  |  | 208,762 |
Assets |  |  | 907,032 |  |  |  | 338,179 |  |  |  | 86,718 |  |  |  | 1,331,929 |
Capital expenditures |  |  | 69,725 |  |  |  | 29,188 |  |  |  | 4,441 |  |  |  | 103,354 |
Depreciation and amortization expenses |  |  | 48,422 |  |  |  | 22,151 |  |  |  | 5,483 |  |  |  | 76,056 |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 1,385,932 |  |  | $ | 527,420 |  |  | $ | 80,505 |  |  | $ | 1,993,857 |
Operating income (1) |  |  | 133,518 |  |  |  | 66,373 |  |  |  | 11,661 |  |  |  | 211,552 |
Assets |  |  | 850,553 |  |  |  | 351,690 |  |  |  | 82,957 |  |  |  | 1,285,200 |
Capital expenditures |  |  | 51,543 |  |  |  | 26,663 |  |  |  | 6,192 |  |  |  | 84,398 |
Depreciation and amortization expenses |  |  | 50,514 |  |  |  | 23,253 |  |  |  | 5,150 |  |  |  | 78,917 |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 1,297,555 |  |  | $ | 546,634 |  |  | $ | 80,818 |  |  | $ | 1,925,007 |
Operating income (1) |  |  | 125,712 |  |  |  | 85,745 |  |  |  | 9,965 |  |  |  | 221,422 |
Assets |  |  | 881,415 |  |  |  | 355,065 |  |  |  | 75,452 |  |  |  | 1,311,932 |
Capital expenditures |  |  | 50,400 |  |  |  | 21,146 |  |  |  | 4,234 |  |  |  | 75,780 |
Depreciation and amortization expenses |  |  | 49,102 |  |  |  | 22,998 |  |  |  | 5,019 |  |  |  | 77,119 |
| (1) | The 2018 and 2017 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. |
Below are reconciliations of segment data to the consolidated financial statements:
(In thousands) |  | 2019 |  |  | 2018 |  |  | 2017 |
Operating income - segment totals (1) |  | $ | 208,762 |  |  | $ | 211,552 |  |  | $ | 221,422 |
Business restructuring (2) |  |  | (2,744 | ) |  |  | (2,588 | ) |  |  | (3,069 | )
Unallocated corporate expenses (3) |  |  | (78,758 | ) |  |  | (59,699 | ) |  |  | (63,513 | )
Total operating income |  |  | 127,260 |  |  |  | 149,265 |  |  |  | 154,840 |
Interest expense, net |  |  | (5,932 | ) |  |  | (10,771 | ) |  |  | (11,444 | )
Other, net |  |  | 4,571 |  |  |  | (725 | ) |  |  | 3,486 |
Consolidated income before income taxes(1) |  | $ | 125,899 |  |  | $ | 137,769 |  |  | $ | 146,882 |
Assets - segment totals |  | $ | 1,331,929 |  |  | $ | 1,285,200 |  |  | $ | 1,311,932 |
Unallocated corporate assets (1)(4) |  |  | 247,438 |  |  |  | 229,414 |  |  |  | 190,960 |
Consolidated assets |  | $ | 1,579,367 |  |  | $ | 1,514,614 |  |  | $ | 1,502,892 |
Capital expenditures - segment totals |  | $ | 103,354 |  |  | $ | 84,398 |  |  | $ | 75,780 |
Unallocated corporate expenditures |  |  | 2,218 |  |  |  | 2,249 |  |  |  | 2,833 |
Consolidated capital expenditures |  | $ | 105,572 |  |  | $ | 86,647 |  |  | $ | 78,613 |
Depreciation and amortization expenses – segment totals |  | $ | 76,056 |  |  | $ | 78,917 |  |  | $ | 77,119 |
Unallocated corporate depreciation expenses |  |  | 2,645 |  |  |  | 2,198 |  |  |  | 1,903 |
Consolidated depreciation and amortization expenses |  | $ | 78,701 |  |  | $ | 81,115 |  |  | $ | 79,022 |
| (1) | The 2018 and 2017 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) | See Note 23 regarding business restructuring costs.
| (3) | 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. |
| (4) | The changes in unallocated corporate assets between 2019, 2018 and 2017 were primarily attributable to changes in the balance of U.S. cash and cash equivalents, which are not allocated to segments. |
Below is certain Company-wide geographic data for the years ended December 31, 2019, 2018 and 2017:
(In thousands) |  | 2019 |  |  | 2018 |  |  | 2017 |
Net sales (1) |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 1,115,993 |  |  | $ | 1,193,938 |  |  | $ | 1,159,578 |
France |  |  | 145,933 |  |  |  | 171,010 |  |  |  | 176,052 |
Poland |  |  | 156,391 |  |  |  | 170,474 |  |  |  | 188,244 |
United Kingdom |  |  | 96,842 |  |  |  | 105,732 |  |  |  | 99,069 |
Brazil |  |  | 102,590 |  |  |  | 100,328 |  |  |  | 109,960 |
All other countries |  |  | 240,996 |  |  |  | 252,375 |  |  |  | 192,104 |
Total |  | $ | 1,858,745 |  |  | $ | 1,993,857 |  |  | $ | 1,925,007 |
Long-lived assets (2) |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 462,199 |  |  | $ | 427,274 |  |  | $ | 420,342 |
Germany |  |  | 30,084 |  |  |  | 29,151 |  |  |  | 29,116 |
Singapore |  |  | 28,741 |  |  |  | 30,838 |  |  |  | 33,530 |
Brazil |  |  | 46,740 |  |  |  | 48,427 |  |  |  | 55,974 |
China |  |  | 27,201 |  |  |  | 29,030 |  |  |  | 30,849 |
United Kingdom |  |  | 21,551 |  |  |  | 20,225 |  |  |  | 21,657 |
All other countries |  |  | 64,239 |  |  |  | 61,145 |  |  |  | 50,631 |
Total |  | $ | 680,755 |  |  | $ | 646,090 |  |  | $ | 642,099 |
| (1) | Net sales are attributed to countries based on the location of the Company facility making the sales. |
| (2) | Includes net property, plant and equipment, goodwill and other intangible assets.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration