Business Segment Information

3 Months Ended

Feb. 29, 2012

Business Segment Information [Abstract]

Business Segment Information

Note K – Business Segment Information

The Company's two operating segments were determined based on products and services provided. Accounting policies of the segments are the same as the Company's accounting policies.

The Company's two operating segments are: Performance Chemicals and Decorative Products. The Company's operating segments are strategic business units that offer different products and services. They are managed separately based on fundamental differences in their operations.

Segment operating profit represents net sales less applicable costs, expenses and provisions for restructuring and severance, asset write-offs, work stoppage costs and other items. However, management excludes restructuring and severance, asset write-offs, work stoppage costs and other items when evaluating the results and allocating resources to the segments.

Segment operating profit excludes unallocated corporate headquarters expenses, provisions for corporate headquarters restructuring and severance, interest expense, amortization of deferred financing costs, acquisition related expenses, write-off of deferred financing fees, other items and income taxes. Corporate headquarters expense includes the cost of providing and maintaining the corporate headquarters functions, including salaries, rent, travel and entertainment expenses, depreciation, utility costs, outside services and amortization of deferred financing costs.

The following table sets forth a summary of operations by segment and a reconciliation of segment sales to consolidated sales and segment operating profit (loss) to consolidated income before income taxes.

	Three Months Ended
(in Millions)	February 29, 2012			February 28, 2011
Net Sales
Performance Chemicals
Paper and Carpet Chemicals	$	86.5		$	87.1
Specialty Chemicals		131.9			125.7
Total Performance Chemicals	$	218.4		$	212.8
Decorative Products
Coated Fabrics	$	30.1		$	28.9
Laminates and Performance Films		27.4			30.2
Total Decorative Products	$	57.5		$	59.1
Total Net Sales	$	275.9		$	271.9
Segment Operating Profit (Loss)
Performance Chemicals	$	25.7		$	21.4
Decorative Products		2.5			(.9	)
Total Segment Operating Profit		28.2			20.5
Interest expense		(9.5	)		(9.3	)
Corporate expense		(4.5	)		(4.1	)
Acquisition and integration costs		—			(1.9	)
Write-off of deferred financing fees		—			(1.0	)
Income From Continuing Operations Before Income Taxes	$	14.2		$	4.2