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Segment Reporting | 12 Months Ended
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Dec. 31, 2022
Segment Reporting [Abstract] |
Segment Reporting | 17. 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 and disinfection products as well as in agricultural products, lubricating ingredients, oil field chemicals and other specialized applications. Polymers are used primarily in the manufacture of rigid foam for thermal insulation in the construction industry, 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, 2022, 2021 and 2020:
(In thousands) |  | Surfactants |  |  | Polymers |  |  | Specialty Products |  |  | Segment Totals |
2022 |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 1,882,745 |  |  | $ | 789,080 |  |  | $ | 101,445 |  |  | $ | 2,773,270 |
Operating income |  |  | 162,746 |  |  |  | 82,897 |  |  |  | 29,895 |  |  |  | 275,538 |
Assets |  |  | 1,579,242 |  |  |  | 565,726 |  |  |  | 96,193 |  |  |  | 2,241,161 |
Capital expenditures |  |  | 259,442 |  |  |  | 35,679 |  |  |  | 4,926 |  |  |  | 300,047 |
Depreciation and amortization expenses |  |  | 55,262 |  |  |  | 31,399 |  |  |  | 5,807 |  |  |  | 92,468 |
2021 |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 1,562,795 |  |  | $ | 713,440 |  |  | $ | 69,731 |  |  | $ | 2,345,966 |
Operating income |  |  | 165,999 |  |  |  | 73,591 |  |  |  | 14,178 |  |  |  | 253,768 |
Assets |  |  | 1,245,207 |  |  |  | 556,799 |  |  |  | 78,100 |  |  |  | 1,880,106 |
Capital expenditures |  |  | 154,953 |  |  |  | 29,077 |  |  |  | 4,976 |  |  |  | 189,006 |
Depreciation and amortization expenses |  |  | 51,375 |  |  |  | 30,598 |  |  |  | 5,836 |  |  |  | 87,809 |
2020 |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 1,351,686 |  |  | $ | 452,277 |  |  | $ | 65,787 |  |  | $ | 1,869,750 |
Operating income |  |  | 169,101 |  |  |  | 68,214 |  |  |  | 13,966 |  |  |  | 251,281 |
Assets |  |  | 1,018,555 |  |  |  | 361,219 |  |  |  | 92,964 |  |  |  | 1,472,738 |
Capital expenditures |  |  | 88,484 |  |  |  | 26,719 |  |  |  | 5,960 |  |  |  | 121,163 |
Depreciation and amortization expenses |  |  | 49,429 |  |  |  | 22,873 |  |  |  | 5,686 |  |  |  | 77,988 |
Below are reconciliations of segment data to the consolidated financial statements:
(In thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Operating income - segment totals |  | $ | 275,538 |  |  | $ | 253,768 |  |  | $ | 251,281 |
Business restructuring and asset disposition (1) |  |  | (308 | ) |  |  | (3,353 | ) |  |  | (1,212 | )
Unallocated corporate expenses (2) |  |  | (67,894 | ) |  |  | (79,634 | ) |  |  | (78,547 | )
Total operating income |  |  | 207,336 |  |  |  | 170,781 |  |  |  | 171,522 |
Interest expense, net |  |  | (9,809 | ) |  |  | (5,753 | ) |  |  | (5,409 | )
Other, net |  |  | (8,824 | ) |  |  | 7,509 |  |  |  | 4,954 |
Consolidated income before income taxes |  | $ | 188,703 |  |  | $ | 172,537 |  |  | $ | 171,067 |
Assets - segment totals |  | $ | 2,241,161 |  |  | $ | 1,880,106 |  |  | $ | 1,472,738 |
Unallocated corporate assets |  |  | 192,011 |  |  |  | 185,506 |  |  |  | 279,598 |
Consolidated assets |  | $ | 2,433,172 |  |  | $ | 2,065,612 |  |  | $ | 1,752,336 |
Capital expenditures - segment totals |  | $ | 300,047 |  |  | $ | 189,006 |  |  | $ | 121,163 |
Unallocated corporate expenditures |  |  | 1,506 |  |  |  | 5,476 |  |  |  | 4,629 |
Consolidated capital expenditures |  | $ | 301,553 |  |  | $ | 194,482 |  |  | $ | 125,792 |
Depreciation and amortization expenses – segment totals |  | $ | 92,468 |  |  | $ | 87,809 |  |  | $ | 77,988 |
Unallocated corporate depreciation expenses |  |  | 2,182 |  |  |  | 3,067 |  |  |  | 3,872 |
Consolidated depreciation and amortization expenses |  | $ | 94,650 |  |  | $ | 90,876 |  |  | $ | 81,860 |
(1) See Note 22, Business Restructuring and Asset Disposition, of the notes to the Company’s consolidated financial statements (included in Item 8 of this Form 10-K) regarding business restructuring and asset disposition costs. (2) Unallocated corporate expenses are primarily comprised of 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. Below is certain Company-wide geographic data for the years ended December 31, 2022, 2021 and 2020:
(In thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Net sales (1) |  |  |  |  |  |  |  |  |
United States |  | $ | 1,579,194 |  |  | $ | 1,297,650 |  |  | $ | 1,117,695 |
France |  |  | 227,421 |  |  |  | 179,746 |  |  |  | 141,516 |
Poland |  |  | 195,781 |  |  |  | 198,883 |  |  |  | 147,289 |
United Kingdom |  |  | 229,836 |  |  |  | 208,780 |  |  |  | 93,115 |
Brazil |  |  | 175,004 |  |  |  | 136,799 |  |  |  | 105,639 |
Mexico |  |  | 148,858 |  |  |  | 127,944 |  |  |  | 100,763 |
All other countries |  |  | 217,176 |  |  |  | 196,164 |  |  |  | 163,733 |
Total |  | $ | 2,773,270 |  |  | $ | 2,345,966 |  |  | $ | 1,869,750 |
Long-lived assets (2) |  |  |  |  |  |  |  |  |
United States |  | $ | 896,867 |  |  | $ | 668,362 |  |  | $ | 499,260 |
Netherlands |  |  | 79,007 |  |  |  | 85,931 |  |  |  | — |
Germany |  |  | 42,512 |  |  |  | 41,438 |  |  |  | 39,759 |
Singapore |  |  | 20,899 |  |  |  | 23,507 |  |  |  | 25,815 |
Brazil |  |  | 38,493 |  |  |  | 35,294 |  |  |  | 35,786 |
China |  |  | 28,717 |  |  |  | 30,991 |  |  |  | 27,300 |
United Kingdom |  |  | 33,389 |  |  |  | 38,634 |  |  |  | 24,335 |
Mexico |  |  | 52,917 |  |  |  | 45,384 |  |  |  | 39,482 |
All other countries |  |  | 34,444 |  |  |  | 39,034 |  |  |  | 42,970 |
Total |  | $ | 1,227,245 |  |  | $ | 1,008,575 |  |  | $ | 734,707 |
(1) Net sales are attributed to countries based on the location of the Company legal entity making the sale. (2) Includes net property, plant and equipment, goodwill and other intangible assets.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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