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Business Restructuring and Asset Disposition | 12 Months Ended
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Dec. 31, 2021
Restructuring And Related Activities [Abstract] |
Business Restructuring and Asset Disposition | 22. Business Restructuring and Asset Disposition 2019 Restructuring In 2019, the Company restructured its Specialty Products office in the Netherlands and eliminated select positions from the site’s supply chain, quality control and research and development areas. This restructuring was designed to better align the number of personnel with current business requirements and reduce costs at the site. As a result, severance and early lease termination expenses of $554,000 and $122,000, respectively, were recognized during the year ended December 31, 2019. 2018 Restructuring During the third quarter of 2018, the Company approved a plan to shut down surfactants operations at its German plant site. As of December 31, 2021, an aggregate of $2,392,000 shut down related expense had been recognized at the site. This aggregate expense is comprised of $1,404,000 of asset and spare part write downs recognized in 2018 and $988,000 of cumulative decommissioning costs. The Company recognized $79,000 and $909,000 in decommissioning expenses in 2020 and 2019, respectively. 2016 Restructuring In May 2016, the Company announced plans to shut down its Long Mills, Ontario, Canada (Longford Mills) manufacturing facility, a part of the Surfactant reportable segment, by December 31, 2016. The shutdown plan was implemented to improve the Company’s asset utilization in North America and to reduce the Company’s fixed cost base. Manufacturing operations at the Longford Mills plant ceased by the end of 2016, and production of goods manufactured at the facility was transferred to the Company’s other North American production sites. As of December 31, 2021, $9,250,000 of aggregate restructuring expense had been recognized, reflecting $1,644,000 of termination benefits for approximately 30 employees and $7,606,000 for other expenses, principally site decommissioning costs. The Company recognized restructuring expenses of $633,000, $1,133,000 and $1,410,000 in 2021, 2020 and 2019, respectively. Asset Disposition In the fourth quarter 2021, the Company sold one of its corporate headquarter buildings and recognized a $2,720,000 loss on the sale of the building. The loss is reflected in the Business restructuring and asset disposition line on the Company’s consolidated statements of income.

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- Definition The entire disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References No definition available. + Details
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