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Revenue from Contracts with Customers
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers
13.
REVENUE FROM CONTRACTS WITH CUSTOMERS

The Company has accounts receivable financing programs under which the Company has the ability to sell eligible receivables for select customers to select banking institutions. For the three months ended June 30, 2026 and 2025, the Company’s cash

proceeds from the sale of receivables were $24,496,000 and $20,606,000, respectively. For the six months ended June 30, 2026 and 2025, the Company’s cash proceeds from the sale of receivables were $40,114,000 and $55,075,000, respectively. Financing charges incurred from the sale of accounts receivable qualifying as sales for the three and six months ended June 30, 2026 and 2025 were immaterial.

As of June 30, 2026 and December 31, 2025, the Company had $405,000 and $218,000 of contract liabilities and no contract assets, respectively. A contract liability would typically arise when an advance or deposit is received from a customer before the Company recognizes revenue. In practice, this is rare as it would require a customer to make a payment prior to a performance obligation being satisfied. When such situations do arise, the Company maintains a deferred revenue liability until the time a performance obligation has been satisfied. The Company recognized $218,000 of revenue in the first six months of 2026 from pre-existing contract liabilities at December 31, 2025.

In addition, during 2020, the Company recorded $10,709,000 of long-term deferred revenue associated with a payment received to defray the cost of capital expenditures necessary to service a customer’s future product needs. At June 30, 2026, $1,108,000 was classified as long-term and $2,216,000 was classified as short-term. This deferred revenue is being recognized over the period of the contract and $7,385,000 of revenue has been recognized from the beginning of the contract term through June 30, 2026.

The tables below provide a geographic disaggregation of net sales for the three and six months ended June 30, 2026 and 2025. The Company’s business segmentation by geographic region most effectively captures the nature and economic characteristics of the Company’s revenue streams impacted by economic factors.

 

(In thousands)

 

For the Three Months Ended June 30, 2026

 

Geographic Market

 

Surfactants

 

 

Polymers

 

 

Specialty

 

 

Total

 

North America

 

$

273,715

 

 

$

99,245

 

 

$

19,799

 

 

$

392,759

 

Europe

 

 

81,965

 

 

 

67,307

 

 

 

2,326

 

 

 

151,598

 

Latin America

 

 

123,508

 

 

 

69

 

 

 

75

 

 

 

123,652

 

Asia

 

 

4,714

 

 

 

11,386

 

 

 

—

 

 

 

16,100

 

       Total

 

$

483,902

 

 

$

178,007

 

 

$

22,200

 

 

$

684,109

 

 

(In thousands)

 

For the Six Months Ended June 30, 2026

 

Geographic Market

 

Surfactants

 

 

Polymers

 

 

Specialty

 

 

Total

 

North America

 

$

532,810

 

 

$

171,047

 

 

$

37,910

 

 

$

741,767

 

Europe

 

 

176,126

 

 

 

114,841

 

 

 

4,961

 

 

 

295,928

 

Latin America

 

 

220,118

 

 

 

275

 

 

 

122

 

 

 

220,515

 

Asia

 

 

8,535

 

 

 

21,873

 

 

 

—

 

 

 

30,408

 

       Total

 

$

937,589

 

 

$

308,036

 

 

$

42,993

 

 

$

1,288,618

 

 

(In thousands)

 

For the Three Months Ended June 30, 2025

 

Geographic Market

 

Surfactants

 

 

Polymers

 

 

Specialty

 

 

Total

 

North America

 

$

234,364

 

 

$

88,251

 

 

$

16,833

 

 

$

339,448

 

Europe

 

 

74,605

 

 

 

63,296

 

 

 

3,514

 

 

 

141,415

 

Latin America

 

 

90,527

 

 

 

204

 

 

 

135

 

 

 

90,866

 

Asia

 

 

11,960

 

 

 

11,000

 

 

 

—

 

 

 

22,960

 

       Total

 

$

411,456

 

 

$

162,751

 

 

$

20,482

 

 

$

594,689

 

 

(In thousands)

 

For the Six Months Ended June 30, 2025

 

Geographic Market

 

Surfactants

 

 

Polymers

 

 

Specialty

 

 

Total

 

North America

 

$

486,099

 

 

$

161,044

 

 

$

30,297

 

 

$

677,440

 

Europe

 

 

156,203

 

 

 

124,438

 

 

 

6,781

 

 

 

287,422

 

Latin America

 

 

173,291

 

 

 

500

 

 

 

206

 

 

 

173,997

 

Asia

 

 

26,200

 

 

 

22,885

 

 

 

—

 

 

 

49,085

 

       Total

 

$

841,793

 

 

$

308,867

 

 

$

37,284

 

 

$

1,187,944