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Segment Reporting | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Related Information | Segment Related Information The Company has concluded that it is a single operating segment and a single reportable segment: chemical manufacturing. Its larger manufacturing sites are vertically integrated and leverage cross-plant resources, including centralized supply chain and procurement functions. This production process uses one key raw material, cumene, as the input to products produced for sale through the sales channels and end markets the Company serves. Production rates and output volumes are managed across locations to align with the Company’s overall operating plan. Additionally, the Company’s operating results, which are evaluated regularly to make decisions about resource allocation and performance assessment by the CODM, our CEO and President, are on a consolidated basis. The chemical manufacturing segment derives its revenues by innovating and delivering essential products in the industries of nylon solutions, plant nutrients, and chemical intermediates to its customers in a wide variety of end markets and applications, such as building and construction, fertilizers, agrochemicals, plastics, solvents, packaging, paints, coatings, adhesives and electronics. The CODM’s performance assessment and resource allocation for the chemical manufacturing segment is based on net income which is also reported on the income statement as net income, the measure of segment assets which is also reported on the balance sheet as total assets, and capital expenditures which is also reported in management’s discussion and analysis. The CODM uses net income generated from segment assets in deciding whether to reinvest profits into the segment or into other parts of the entity, such as for acquisitions or to pay dividends. The CODM also uses net income to monitor budget versus actual results. Monitoring budgeted versus actual results is used in assessing performance of the segment and in establishing management’s compensation. Lastly, the CODM uses capital expenditures estimate the cash-generating potential and cash requirements of the segment. Significant expense information reviewed by the CODM was as follows (in thousands):
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Revenue | $ | 1,517,557 |  |  | $ | 1,533,599 |  |  | $ | 1,945,640 |
Less: |  |  |  |  |
Variable cost of goods sold * | 691,300 |  |  | 711,169 |  |  | 973,605 |
Plant costs | 487,671 |  |  | 470,457 |  |  | 470,696 |
Freight and distribution costs | 176,849 |  |  | 177,095 |  |  | 174,407 |
Selling, general, and administrative expense | 94,023 |  |  | 95,538 |  |  | 87,748 |
Other segment items ** | 23,565 |  |  | 24,717 |  |  | 67,298 |
Segment net income | $ | 44,149 |  |  | $ | 54,623 |  |  | $ | 171,886 |
*Variable costs of goods sold includes raw materials and various utility expenses **Other segment items include research and development expense, interest income and expense, capitalized interest, other non-operating expense, and income tax expense.

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- 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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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