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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2014
Segment Reporting [Abstract] |
Segment Financial Information | Information about our continuing operations in different business segments is detailed below.
|  | 2014 |  |  | 2013 |  |  | 2012 |
|  | (In Thousands) |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |
Chemical (1): |  |  |  |  |  |  |  |  |  |  |  |
Agricultural products |  | $ | 215,523 |  |  | $ | 167,614 |  |  | $ | 217,329 |
Industrial acids and other chemical products |  |  | 160,104 |  |  |  | 141,936 |  |  |  | 162,498 |
Mining products |  |  | 67,043 |  |  |  | 63,042 |  |  |  | 96,538 |
Other products |  |  | 12,232 |  |  |  | 8,077 |  |  |  | 1,448 |
Total Chemical |  |  | 454,902 |  |  |  | 380,669 |  |  |  | 477,813 |
Climate Control: |  |  |  |  |  |  |  |  |  |  |  |
Water source and geothermal heat pumps |  |  | 168,804 |  |  |  | 183,757 |  |  |  | 162,697 |
Hydronic fan coils |  |  | 61,307 |  |  |  | 64,541 |  |  |  | 55,812 |
Other HVAC products |  |  | 35,247 |  |  |  | 36,720 |  |  |  | 47,662 |
Total Climate Control |  |  | 265,358 |  |  |  | 285,018 |  |  |  | 266,171 |
Other |  |  | 12,250 |  |  |  | 13,600 |  |  |  | 15,047 |
|  | $ | 732,510 |  |  | $ | 679,287 |  |  | $ | 759,031 |
Gross profit: |  |  |  |  |  |  |  |  |  |  |  |
Chemical (1) (2) |  | $ | 66,565 |  |  | $ | 46,165 |  |  | $ | 97,692 |
Climate Control |  |  | 82,443 |  |  |  | 92,907 |  |  |  | 80,981 |
Other |  |  | 4,347 |  |  |  | 4,484 |  |  |  | 5,063 |
|  | $ | 153,355 |  |  | $ | 143,556 |  |  | $ | 183,736 |
Operating income: |  |  |  |  |  |  |  |  |  |  |  |
Chemical (1) (2) (3) |  | $ | 51,281 |  |  | $ | 87,784 |  |  | $ | 82,101 |
Climate Control |  |  | 21,675 |  |  |  | 30,386 |  |  |  | 25,834 |
Other |  |  | 1,771 |  |  |  | 1,699 |  |  |  | 2,091 |
General corporate expenses (4) |  |  | (21,365 | ) |  |  | (14,561 | ) |  |  | (14,371 | )
|  |  | 53,362 |  |  |  | 105,308 |  |  |  | 95,655 |
Interest expense, net (5) |  |  | 21,599 |  |  |  | 13,986 |  |  |  | 4,237 |
Losses on extinguishment of debt |  |  | — |  |  |  | 1,296 |  |  |  | — |
Non-operating expense (income), net: |  |  |  |  |  |  |  |  |  |  |  |
Chemical |  |  | (249 | ) |  |  | (1 | ) |  |  | (1 | )
Climate Control |  |  | — |  |  |  | (1 | ) |  |  | (1 | )
Corporate and other business operations |  |  | (32 | ) |  |  | (98 | ) |  |  | (279 | )
Provisions for income taxes |  |  | 12,400 |  |  |  | 35,421 |  |  |  | 33,594 |
Equity in earnings of affiliate - Climate Control |  |  | (79 | ) |  |  | (436 | ) |  |  | (681 | )
Income from continuing operations |  | $ | 19,723 |  |  | $ | 55,141 |  |  | $ | 58,786 |
(1) | As discussed above under “Chemical Business”, during the last three years, our Chemical Business encountered a number of significant issues at certain of our facilities resulting in lost production and adverse effects on operating results. However, some of these issues were covered by our business interruption and property insurance policies.
(2) | For 2014, 2013, and 2012, we recognized business interruption insurance recoveries, of which $22.9 million, $28.4 million, and $7.3 million, respectively, were classified as reductions to cost of sales.
(3) | For 2014 and 2013, we recognized property insurance recoveries, of which $5.1 million and $66.3 million, were classified as property insurance recoveries in excess of losses incurred (none for 2012).
(4) | General corporate expenses consist of the following:
|  | 2014 |  |  | 2013 |  |  | 2012 |
|  | (In Thousands) |
Selling, general and administrative: |  |  |  |  |  |  |  |  |  |  |  |
Personnel costs |  | $ | (8,434 | ) |  | $ | (8,096 | ) |  | $ | (8,110 | )
Fees and expenses relating to certain activist shareholders’ proposals (A) |  | $ | (4,163 | ) |  | $ | — |  |  | $ | — |
Professional fees |  |  | (4,536 | ) |  |  | (4,813 | ) |  |  | (4,116 | )
All other |  |  | (4,312 | ) |  |  | (2,208 | ) |  |  | (2,533 | )
Total selling, general and adminsitrative |  |  | (21,445 | ) |  |  | (15,117 | ) |  |  | (14,759 | )
Other income |  |  | 97 |  |  |  | 584 |  |  |  | 388 |
Other expense |  |  | (17 | ) |  |  | (28 | ) |  |  | — |
Total general corporate expenses |  | $ | (21,365 | ) |  | $ | (14,561 | ) |  | $ | (14,371 | )
(A) | During the first quarter of 2014, we incurred fees and expenses in evaluating and analyzing proposals received from certain activist shareholders and dealing, negotiating and settling with those shareholders in order to avoid a proxy contest in 2014.
(5) | For 2014, 2013 and 2012, interest expense is net of capitalized interest of $14.1 million, $4.0 million and $0.4 million, respectively.
General Corporate Expenses and Other Business Operations, Net |
(4) | General corporate expenses consist of the following:
|  | 2014 |  |  | 2013 |  |  | 2012 |
|  | (In Thousands) |
Selling, general and administrative: |  |  |  |  |  |  |  |  |  |  |  |
Personnel costs |  | $ | (8,434 | ) |  | $ | (8,096 | ) |  | $ | (8,110 | )
Fees and expenses relating to certain activist shareholders’ proposals (A) |  | $ | (4,163 | ) |  | $ | — |  |  | $ | — |
Professional fees |  |  | (4,536 | ) |  |  | (4,813 | ) |  |  | (4,116 | )
All other |  |  | (4,312 | ) |  |  | (2,208 | ) |  |  | (2,533 | )
Total selling, general and adminsitrative |  |  | (21,445 | ) |  |  | (15,117 | ) |  |  | (14,759 | )
Other income |  |  | 97 |  |  |  | 584 |  |  |  | 388 |
Other expense |  |  | (17 | ) |  |  | (28 | ) |  |  | — |
Total general corporate expenses |  | $ | (21,365 | ) |  | $ | (14,561 | ) |  | $ | (14,371 | )
PP&E and Total Assets by Business Segment | Information about our PP&E and total assets by business segment is detailed below:
|  | 2014 |  |  | 2013 |  |  | 2012 |
|  | (In Thousands) |
Depreciation, depletion and amortization of PP&E: |  |  |  |  |  |  |  |  |  |  |  |
Chemical |  | $ | 30,364 |  |  | $ | 23,497 |  |  | $ | 16,355 |
Climate Control |  |  | 4,946 |  |  |  | 4,707 |  |  |  | 4,250 |
Other |  |  | 34 |  |  |  | 49 |  |  |  | 32 |
Corporate assets |  |  | 320 |  |  |  | 57 |  |  |  | 44 |
Total depreciation, depletion and amortization of PP&E |  | $ | 35,664 |  |  | $ | 28,310 |  |  | $ | 20,681 |
Additions to PP&E: |  |  |  |  |  |  |  |  |  |  |  |
Chemical |  | $ | 238,070 |  |  | $ | 160,343 |  |  | $ | 141,399 |
Climate Control |  |  | 1,859 |  |  |  | 5,576 |  |  |  | 5,816 |
Other |  |  | 27 |  |  |  | 65 |  |  |  | 889 |
Corporate |  |  | 148 |  |  |  | 435 |  |  |  | 2,701 |
Total additions to PP&E |  | $ | 240,104 |  |  | $ | 166,419 |  |  | $ | 150,805 |
Total assets at December 31: |  |  |  |  |  |  |  |  |  |  |  |
Chemical |  | $ | 929,745 |  |  | $ | 842,725 |  |  | $ | 394,479 |
Climate Control |  |  | 133,183 |  |  |  | 159,960 |  |  |  | 139,526 |
Other |  |  | 5,960 |  |  |  | 6,832 |  |  |  | 8,204 |
Corporate |  |  | 68,117 |  |  |  | 73,580 |  |  |  | 34,403 |
Total assets |  | $ | 1,137,005 |  |  | $ | 1,083,097 |  |  | $ | 576,612 |
Net Sales to Foreign Customers | Net sales to unaffiliated customers are to U.S. customers except foreign export sales as follows:
Geographic Area |  | 2014 |  |  | 2013 |  |  | 2012 |
|  |  |  |  | (In Thousands) |  |  |  |
Canada |  | $ | 19,334 |  |  | $ | 19,976 |  |  | $ | 21,079 |
Other |  |  | 12,642 |  |  |  | 14,178 |  |  |  | 11,091 |
|  | $ | 31,976 |  |  | $ | 34,154 |  |  | $ | 32,170 |

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