XML 49 R18.htm IDEA: XBRL DOCUMENT
v3.2.0.727

Segment Information | 6 Months Ended
--- | ---
Jun. 30, 2015
Segment Reporting [Abstract] |
Segment Information | Note 12: Segment Information
|  | Six Months Ended June 30, |  |  | Three Months Ended June 30, |
|  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |
|  | (In Thousands) |
Net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chemical |  | $ | 239,582 |  |  | $ | 250,977 |  |  | $ | 112,768 |  |  | $ | 135,756 |
Climate Control |  |  | 132,040 |  |  |  | 123,100 |  |  |  | 66,842 |  |  |  | 62,751 |
Other |  |  | 4,895 |  |  |  | 6,110 |  |  |  | 3,049 |  |  |  | 3,155 |
|  | $ | 376,517 |  |  | $ | 380,187 |  |  | $ | 182,659 |  |  | $ | 201,662 |
Gross profit: (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chemical (2) |  | $ | 35,457 |  |  | $ | 57,682 |  |  | $ | 13,627 |  |  | $ | 29,256 |
Climate Control |  |  | 40,043 |  |  |  | 37,766 |  |  |  | 20,081 |  |  |  | 18,502 |
Other |  |  | 1,741 |  |  |  | 2,143 |  |  |  | 1,174 |  |  |  | 1,111 |
|  | $ | 77,241 |  |  | $ | 97,591 |  |  | $ | 34,882 |  |  | $ | 48,869 |
Operating income: (3) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chemical (2) |  | $ | 23,500 |  |  | $ | 52,402 |  |  | $ | 6,840 |  |  | $ | 23,589 |
Climate Control |  |  | 8,316 |  |  |  | 8,944 |  |  |  | 4,004 |  |  |  | 4,612 |
Other |  |  | 576 |  |  |  | 901 |  |  |  | 578 |  |  |  | 514 |
General corporate expenses (4) |  |  | (15,609 | ) |  |  | (12,622 | ) |  |  | (8,862 | ) |  |  | (4,951 | )
|  |  | 16,783 |  |  |  | 49,625 |  |  |  | 2,560 |  |  |  | 23,764 |
Interest expense, net (5) |  |  | 5,628 |  |  |  | 12,379 |  |  |  | 2,230 |  |  |  | 5,671 |
Non-operating income, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Chemical |  |  | (61 | ) |  |  | (140 | ) |  |  | (28 | ) |  |  | (63 | )
Climate Control |  |  | (4 | ) |  |  | — |  |  |  | (4 | ) |  |  | — |
Corporate and other business operations |  |  | (19 | ) |  |  | (13 | ) |  |  | (17 | ) |  |  | (13 | )
Provisions (benefit) for income taxes |  |  | 4,140 |  |  |  | 14,701 |  |  |  | (41 | ) |  |  | 7,047 |
Equity in earnings of affiliate – Climate Control |  |  | — |  |  |  | (79 | ) |  |  | — |  |  |  | (12 | )
Income from continuing operations |  | $ | 7,099 |  |  | $ | 22,777 |  |  | $ | 420 |  |  | $ | 11,134 |
(1) | Gross profit by business segment represents net sales less cost of sales. Gross profit classified as “Other” relates to the sales of industrial machinery and related components.
(2) | During the first quarter of 2014, we recognized business interruption and property insurance recoveries totaling $28.0 million, of which approximately $22.9 million was recognized as a reduction to cost of sales.
(3) | Our chief operating decision makers use operating income by business segment for purposes of making decisions that include resource allocations and performance evaluations. Operating income by business segment represents gross profit by business segment less selling, general and administrative expense (“SG&A”) incurred by each business segment plus other income and other expense earned/incurred by each business segment before general corporate expenses.
(4) | General corporate expenses consist of the following:
|  | Six Months Ended June 30, |  |  | Three Months Ended June 30, |
|  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |
|  | (In Thousands) |
Selling, general and administrative: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Personnel costs |  | $ | (6,690 | ) |  | $ | (4,344 | ) |  | $ | (4,088 | ) |  | $ | (2,812 | )
Fees and expenses relating to shareholders (A) |  |  | (4,334 | ) |  |  | (4,462 | ) |  |  | (2,655 | ) |  |  | (262 | )
Professional fees |  |  | (2,831 | ) |  |  | (2,148 | ) |  |  | (1,287 | ) |  |  | (960 | )
All other |  |  | (1,771 | ) |  |  | (1,718 | ) |  |  | (874 | ) |  |  | (944 | )
Total selling, general and administrative |  |  | (15,626 | ) |  |  | (12,672 | ) |  |  | (8,904 | ) |  |  | (4,978 | )
Other income |  |  | 69 |  |  |  | 50 |  |  |  | 45 |  |  |  | 27 |
Other expense |  |  | (52 | ) |  |  | — |  |  |  | (3 | ) |  |  | — |
Total general corporate expenses |  | $ | (15,609 | ) |  | $ | (12,622 | ) |  | $ | (8,862 | ) |  | $ | (4,951 | )
| (A) | These fees and expenses include costs associated with evaluating and analyzing proposals received from certain activist shareholders and dealing, negotiating and settling with those shareholders in order to avoid proxy contests.
(5) | During the six and three months ended June 30, 2015, interest expense is net of capitalized interest of $12.6 million and $7.0 million, respectively. During the six and three months ended June 30, 2014, interest expense is net of capitalized interest of $5.3 million and $3.0 million, respectively.
Information about our total assets by business segment is as follows:
|  | June 30, 2015 |  |  | December 31, 2014 |
|  | (In Thousands) |
Chemical |  | $ | 980,064 |  |  | $ | 929,745 |
Climate Control |  |  | 136,767 |  |  |  | 133,183 |
Other |  |  | 6,409 |  |  |  | 5,960 |
Corporate assets |  |  | 54,939 |  |  |  | 68,117 |
Total assets |  | $ | 1,178,179 |  |  | $ | 1,137,005 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration