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Segment Reporting | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Segment Reporting | 12. SEGMENT REPORTING The Company has three reportable segments: Surfactants, Polymers and Specialty Products. Net sales by segment for the three and nine months ended September 30, 2024 and 2023, were as follows:
(In thousands) |  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Segment Net Sales |  |  |  |  |  |  |  |  |  |  |  |
Surfactants |  | $ | 382,724 |  |  | $ | 373,836 |  |  | $ | 1,153,339 |  |  | $ | 1,233,351 |
Polymers |  |  | 149,796 |  |  |  | 169,559 |  |  |  | 455,061 |  |  |  | 495,200 |
Specialty Products |  |  | 14,322 |  |  |  | 18,831 |  |  |  | 46,265 |  |  |  | 65,086 |
Total |  | $ | 546,842 |  |  | $ | 562,226 |  |  | $ | 1,654,665 |  |  | $ | 1,793,637 |
Segment operating income and reconciliations of segment operating income to income before provision for income taxes for the three and nine months ended September 30, 2024 and 2023, are summarized below:
(In thousands) |  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Segment Operating Income |  |  |  |  |  |  |  |  |  |  |  |
Surfactants |  | $ | 26,303 |  |  | $ | 15,373 |  |  | $ | 69,445 |  |  | $ | 57,570 |
Polymers |  |  | 15,248 |  |  |  | 21,813 |  |  |  | 37,227 |  |  |  | 48,137 |
Specialty Products |  |  | 3,727 |  |  |  | 2,402 |  |  |  | 15,314 |  |  |  | 8,704 |
Segment operating income |  |  | 45,278 |  |  |  | 39,588 |  |  |  | 121,986 |  |  |  | 114,411 |
Business restructuring expense |  |  | — |  |  |  | (5,628 | ) |  |  | — |  |  |  | (5,827 | )
Unallocated corporate expenses (1) |  |  | (21,329 | ) |  |  | (14,443 | ) |  |  | (59,201 | ) |  |  | (50,201 | )
Total operating income |  |  | 23,949 |  |  |  | 19,517 |  |  |  | 62,785 |  |  |  | 58,383 |
Other Income (Expense) |  |  |  |  |  |  |  |  |  |  |  |
Interest, net |  |  | (3,621 | ) |  |  | (2,987 | ) |  |  | (9,353 | ) |  |  | (9,674 | )
Other, net |  |  | 989 |  |  |  | (690 | ) |  |  | 4,551 |  |  |  | 3,348 |
Income before provision for income taxes |  | $ | 21,317 |  |  | $ | 15,840 |  |  | $ | 57,983 |  |  | $ | 52,057 |
(1) 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 are not used to evaluate segment performance. Unallocated corporate expenses for the three and nine month periods ended September 30, 2024 also include expenses related to a criminal social engineering scheme that impacted one of the Company's subsidiaries in Asia. The social engineering expenses recognized for the three and nine month periods ended September 30, 2024 were $3,300,000 and $6,800,000, respectively. See Note 17, Other Matter, below for detailed information about the charge.

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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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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