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Segment Information (Tables)

6 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Segment Financial 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.

General Corporate Expenses and Other Business Operations, Net

(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.

Total Assets by Business Segment

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

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