Asset Impairment

9 Months Ended

Aug. 31, 2019

Property, Plant and Equipment [Abstract]

Asset Impairment Charges [Text Block]

Asset Impairment

During the third quarter of 2019, the Company recognized an impairment charge of $0.9 million within the Performance Materials segment. The impairment charge was based on estimated fair value utilizing the relief from royalty method of the Income Approach. Future reductions in forecasted revenues or royalty rates could result in additional trademark impairments.

During the third quarter of 2018, the Company approved a plan close the Green Bay, Wisconsin plant shifting styrene butadiene manufacturing to its production plant in Mogadore, Ohio. As a result, the Company determined that certain plant and equipment were impaired and recognized an impairment charge of $9.2 million, primarily in the Performance Materials segment, to write-down the asset group to fair value based on the market approach analysis.