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Segment | 12 Months Ended
--- | ---
Dec. 31, 2024
Segment Reporting [Abstract] |
Segment | 15. Segment We are engaged in the manufacture and sale of nitrogen based chemical products. We manufacture and distribute products in four facilities; three of which we own and one of which we operate on behalf of a third party. Please see "Nature of business" in Note 1-Summary of Significant Accounting Policies for a description of our products and customers. The Company is managed on a consolidated basis with a single reportable segment, chemical manufacturing, which is not an aggregation of individual operating segments. Our segment determination is based primarily on our approach in allocating resources, which is driven by the objective of maximizing profit to the consolidated entity. We do not have business activities outside of our single reportable segment. Hence, we manage our entire company on the same basis as our single reportable segment. We have determined that the CODM function is held by our Chief Executive Officer, Mark Behrman, and our Chief Financial Officer, Cheryl Maguire. Our measure of segment profit that is most consistent with U.S. GAAP measurement principles is consolidated net income, which our CODM uses to assess performance and allocate resources. The accounting policies for our single reportable segment are the same as those for the Company as a whole, which are described in “Note 1 – Summary of Significant Accounting Policies”. The CODM uses the segment profit measure to assess actual versus forecasted performance, determine incentive compensation, evaluate growth opportunities and to make decisions such as whether and when to invest profits back into the business. Information about reported segment revenue, measures of a segment’s profit or loss, significant segment expenses, and measure of a segment's assets:
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (In Thousands) |
Net sales |  | $ | 522,400 |  |  | $ | 593,709 |  |  | $ | 901,711 |
Less: |  |  |  |  |  |  |  |  |
Cost of sales excluding depreciation, amortization and turnaround expense |  |  | 362,562 |  |  |  | 436,634 |  |  |  | 457,327 |
Depreciation and amortization |  |  | 74,260 |  |  |  | 68,385 |  |  |  | 66,782 |
Turnaround expense |  |  | 37,781 |  |  |  | 2,430 |  |  |  | 29,235 |
Total cost of sales |  |  | 474,603 |  |  |  | 507,449 |  |  |  | 553,344 |
Selling, general and administrative |  |  |  |  |  |  |  |  |
Wages and benefits |  |  | 23,191 |  |  |  | 20,403 |  |  |  | 18,222 |
Other selling general and administrative |  |  | 18,576 |  |  |  | 16,177 |  |  |  | 21,206 |
Total selling general and administrative |  |  | 41,767 |  |  |  | 36,580 |  |  |  | 39,428 |
Interest expense |  |  | 34,452 |  |  |  | 41,136 |  |  |  | 46,827 |
(Gain) loss on extinguishments of debt |  |  | (3,013 | ) |  |  | (8,644 | ) |  |  | 113 |
Loss from asset write-down and disposals |  |  | 11,703 |  |  |  | 3,613 |  |  |  | 1,219 |
Income tax (benefit) provision |  |  | (6,684 | ) |  |  | 5,973 |  |  |  | 39,174 |
Other segment items (a) |  |  | (11,075 | ) |  |  | (20,321 | ) |  |  | (8,741 | )
Segment net (loss) income |  |  | (19,353 | ) |  |  | 27,923 |  |  |  | 230,347 |
Reconciliation of profit or loss |  |  |  |  |  |  |  |  |
Adjustments and reconciling items |  |  | — |  |  |  | — |  |  |  | — |
Consolidated net (loss) income |  | $ | (19,353 | ) |  | $ | 27,923 |  |  | $ | 230,347 |
_____________________________ (a) In 2024 and 2023, amount consisted primarily of interest and sublease income. In 2022, amount consisted primarily of interest income and proceeds from an insurance settlement. The measure of our chemical business assets is reported on the balance sheet as total consolidated assets. All our long-lived assets are located in the United States and substantially all net sales are to customers in the United States. In 2024, 2023 and 2022 we had one customer with net sales exceeding more than 10% our total net sales. Net sales to the single customer were 16%, 14% and 21% of our total net sales, in 2024, 2023 and 2022, respectively.

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