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Investments in Affiliated Companies (Tables)
 12 Months Ended
Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments Affiliated companies accounted for on the equity method as of December 31, 2021 are as follows:
Company Country Percent
Ownership 
Zeolyst InternationalUSA50%
Zeolyst C.V.Netherlands50%
Following is summarized information of the combined investments(1):
 December 31,
 20212020
Current assets$245,859 $217,836 
Noncurrent assets223,982 254,397 
Current liabilities43,337 65,958 
Noncurrent liabilities7,471 36,323 
Years ended
December 31,
202120202019
Sales$296,416 $275,621 $376,372 
Gross profit101,069 88,616 143,668 
Operating income66,978 53,500 105,614 
Net income68,433 55,328 106,683 
(1)    Summarized information of the combined investments is presented at 100%; the Company’s share of the net assets and net income of affiliates is calculated based on the percent ownership specified in the table above.
The following table summarizes the activity related to the Company’s investments in affiliated companies balance on the consolidated balance sheets:
Years ended
December 31,
20212020
Balance at beginning of period$458,128 $471,338 
Equity in net income of affiliated companies34,216 27,699 
Charges related to purchase accounting fair value adjustments(6,480)(6,634)
Dividends received(35,000)(40,000)
Foreign currency translation adjustments(4,790)5,725 
Balance at end of period$446,074 $458,128