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Segment Reporting | 6 Months Ended
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Jun. 30, 2026
Segment Reporting [Abstract] |
Segment Reporting | 12. SEGMENT REPORTING The Company has three reportable segments: Surfactants, Polymers and Specialty Products. The Company’s Chief Operating Decision Maker (CODM) is the President and Chief Executive Officer. The accounting policies of the reportable segments are the same as those described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. The following is segment data for the three and six months ended June 30, 2026 and 2025, and reconciliations of segment data to the condensed consolidated financial statements:
|  | For the Three Months Ended June 30, 2026 |
(In thousands) |  | Surfactants |  |  | Polymers |  |  | Specialty Products |  |  | Total |
Net Sales |  | $ | 483,902 |  |  | $ | 178,007 |  |  | $ | 22,200 |  |  | $ | 684,109 |
Cost of Sales (1) |  |  | 420,295 |  |  |  | 147,228 |  |  |  | 16,193 |  |  |  | 583,716 |
Operating Expenses (2) |  |  | 29,245 |  |  |  | 8,310 |  |  |  | 1,000 |  |  |  | 38,555 |
Operating Income |  | $ | 34,362 |  |  | $ | 22,469 |  |  | $ | 5,007 |  |  | $ | 61,838 |
Unallocated Corporate Expenses (3) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (24,628 | )
Consolidated Operating Income |  |  |  |  |  |  |  |  |  |  | $ | 37,210 |
Segment Capital Expenditures |  | $ | 16,057 |  |  | $ | 6,517 |  |  | $ | 992 |  |  | $ | 23,566 |
Unallocated Capital Expenditures (4) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (160 | )
Consolidated Capital Expenditures |  |  |  |  |  |  |  |  |  |  | $ | 23,406 |
Segment Depreciation and Amortization |  | $ | 20,520 |  |  | $ | 8,698 |  |  | $ | 1,467 |  |  | $ | 30,685 |
Unallocated Depreciation and Amortization (5) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 235 |
Consolidated Depreciation and Amortization |  |  |  |  |  |  |  |  |  |  | $ | 30,920 |
|  | For the Six Months Ended June 30, 2026 |
(In thousands) |  | Surfactants |  |  | Polymers |  |  | Specialty Products |  |  | Total |
Net Sales |  | $ | 937,589 |  |  | $ | 308,036 |  |  | $ | 42,993 |  |  | $ | 1,288,618 |
Cost of Sales (1) |  |  | 830,312 |  |  |  | 261,273 |  |  |  | 31,366 |  |  |  | 1,122,951 |
Operating Expenses (2) |  |  | 54,367 |  |  |  | 15,472 |  |  |  | 1,905 |  |  |  | 71,744 |
Operating Income |  | $ | 52,910 |  |  | $ | 31,291 |  |  | $ | 9,722 |  |  | $ | 93,923 |
Unallocated Corporate Expenses (3) |  |  | — |  |  |  | — |  |  |  |  |  |  | (106,335 | )
Consolidated Operating Income |  |  |  |  |  |  |  |  |  |  | $ | (12,412 | )
Segment Capital Expenditures |  | $ | 38,440 |  |  | $ | 13,795 |  |  | $ | 2,454 |  |  | $ | 54,689 |
Unallocated Capital Expenditures (4) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (395 | )
Consolidated Capital Expenditures |  |  |  |  |  |  |  |  |  |  | $ | 54,294 |
Segment Depreciation and Amortization |  | $ | 43,088 |  |  | $ | 17,274 |  |  | $ | 2,920 |  |  | $ | 63,282 |
Unallocated Depreciation and Amortization (5) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 585 |
Consolidated Depreciation and Amortization |  |  |  |  |  |  |  |  |  |  | $ | 63,867 |
|  | For the Three Months Ended June 30, 2025 |
(In thousands) |  | Surfactants |  |  | Polymers |  |  | Specialty Products |  |  | Total |
Net Sales |  | $ | 411,456 |  |  | $ | 162,751 |  |  | $ | 20,482 |  |  | $ | 594,689 |
Cost of Sales (1) |  |  | 370,660 |  |  |  | 138,124 |  |  |  | 14,293 |  |  |  | 523,077 |
Operating Expenses (2) |  |  | 27,429 |  |  |  | 7,468 |  |  |  | 931 |  |  |  | 35,828 |
Operating Income |  | $ | 13,367 |  |  | $ | 17,159 |  |  | $ | 5,258 |  |  | $ | 35,784 |
Unallocated Corporate Expenses (3) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (17,819 | )
Consolidated Operating Income |  |  |  |  |  |  |  |  |  |  | $ | 17,965 |
Segment Capital Expenditures |  | $ | 19,675 |  |  | $ | 4,581 |  |  | $ | 866 |  |  | $ | 25,122 |
Unallocated Capital Expenditures (4) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 476 |
Consolidated Capital Expenditures |  |  |  |  |  |  |  |  |  |  | $ | 25,598 |
Segment Depreciation and Amortization |  | $ | 21,137 |  |  | $ | 8,352 |  |  | $ | 1,472 |  |  | $ | 30,961 |
Unallocated Depreciation and Amortization (5) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 328 |
Consolidated Depreciation and Amortization |  |  |  |  |  |  |  |  |  |  | $ | 31,289 |
|  | For the Six Months Ended June 30, 2025 |
(In thousands) |  | Surfactants |  |  | Polymers |  |  | Specialty Products |  |  | Total |
Net Sales |  | $ | 841,793 |  |  | $ | 308,867 |  |  | $ | 37,284 |  |  | $ | 1,187,944 |
Cost of Sales (1) |  |  | 747,326 |  |  |  | 269,020 |  |  |  | 24,690 |  |  |  | 1,041,036 |
Operating Expenses (2) |  |  | 52,170 |  |  |  | 14,670 |  |  |  | 1,828 |  |  |  | 68,668 |
Operating Income |  | $ | 42,297 |  |  | $ | 25,177 |  |  | $ | 10,766 |  |  | $ | 78,240 |
Unallocated Corporate Expenses (3) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (31,987 | )
Consolidated Operating Income |  |  |  |  |  |  |  |  |  |  | $ | 46,253 |
Segment Capital Expenditures |  | $ | 43,679 |  |  | $ | 11,652 |  |  | $ | 1,946 |  |  | $ | 57,277 |
Unallocated Capital Expenditures (4) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,069 |
Consolidated Capital Expenditures |  |  |  |  |  |  |  |  |  |  | $ | 58,346 |
Segment Depreciation and Amortization |  | $ | 40,567 |  |  | $ | 16,413 |  |  | $ | 2,961 |  |  | $ | 59,941 |
Unallocated Depreciation and Amortization (5) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 618 |
Consolidated Depreciation and Amortization |  |  |  |  |  |  |  |  |  |  | $ | 60,559 |
The following is segment assets at June 30, 2026 and December 31, 2025, and reconciliations of segment assets to the condensed consolidated financial statements.
|  | As of June 30, 2026 |
(In thousands) |  | Surfactants |  |  | Polymers |  |  | Specialty Products |  |  | Total |
Segment Assets |  | $ | 1,650,031 |  |  | $ | 545,676 |  |  | $ | 85,116 |  |  | $ | 2,280,823 |
Unallocated Assets (6) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 111,843 |
Consolidated Assets |  |  |  |  |  |  |  |  |  |  | $ | 2,392,666 |
|  | As of December 31, 2025 |
(In thousands) |  | Surfactants |  |  | Polymers |  |  | Specialty Products |  |  | Total |
Segment Assets |  | $ | 1,630,551 |  |  | $ | 536,748 |  |  | $ | 82,300 |  |  | $ | 2,249,599 |
Unallocated Assets (6) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 108,103 |
Consolidated Assets |  |  |  |  |  |  |  |  |  |  | $ | 2,357,702 |
(1) Cost of sales is comprised of raw material costs (including freight and shipping/handling expenses to deliver the raw materials), manufacturing plant labor expenses and other manufacturing overhead expenses, such as utilities, maintenance, depreciation, etc. that can be allocated to reportable segments. (2) Operating expenses allocated to reportable segments are comprised of selling, administrative and research and development expenses. The CODM uses operating expenses in aggregate to analyze the performance of each reportable segment. (3) Unallocated corporate expenses are primarily comprised of corporate administrative expenses (e.g., corporate finance, legal, human resources, information technology and environmental remediation expenses), deferred compensation and business restructuring expenses that are not included in segment operating income and not used to evaluate segment performance. (4) Unallocated capital expenditures primarily include capital expenditures related to the Company’s Northfield, Illinois location. (5) Unallocated depreciation and amortization primarily includes depreciation related to the Company’s Northfield, Illinois location. (6) Unallocated assets primarily include assets in the Company’s Northfield, Illinois location.

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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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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