Industry Segment and Foreign Operations (Tables)

12 Months Ended

Dec. 31, 2021

Operating Results by Segment


	Year Ended December 31, 2021						Year Ended December 31, 2020
	Polymer		Chemical		Total		Polymer		Chemical		Total
	(In thousands)
Revenue	$	1,098,785	$	871,344	$	1,970,129	$	857,558	$	705,592	$	1,563,150
Cost of goods sold	775,804		605,569		1,381,373		627,297		537,982		1,165,279
Gross profit	322,981		265,775		588,756		230,261		167,610		397,871
Operating expenses:
Research and development	29,869		10,537		40,406		29,972		10,771		40,743
Selling, general, and administrative	91,360		72,807		164,167		90,074		71,870		161,944
Depreciation and amortization	51,042		75,433		126,475		52,910		73,112		126,022
Impairment of goodwill	—		—		—		—		400,000		400,000

Loss on disposal of fixed assets	292		587		879		503		247		750
Operating income (loss)	$	150,418	$	106,411	256,829		$	56,802	$	(388,390)	(331,588)
Other income (expense)					(209)						995
Disposition and exit of business activities					(149)						175,189
Loss on extinguishment of debt					—						(40,843)
Earnings of unconsolidated joint venture					461						457
Interest expense, net					(41,840)						(57,930)
Income (loss) before income taxes					$	215,092					$	(253,720)


	Year Ended December 31, 2019
	Polymer		Chemical		Total
	(In thousands)
Revenue	$	1,052,968	$	751,468	$	1,804,436
Cost of goods sold	820,410		569,597		1,390,007
Gross profit	232,558		181,871		414,429
Operating expenses:
Research and development	29,392		11,681		41,073
Selling, general, and administrative	86,025		63,775		149,800
Depreciation and amortization	59,151		77,020		136,171
Gain on insurance proceeds	—		(32,850)		(32,850)
Loss on disposal of fixed assets	647		126		773

Operating income (loss)	$	57,343	$	62,119	119,462
Other expense					3,339

Loss on extinguishment of debt					(3,521)
Earnings of unconsolidated joint venture					506
Interest expense, net					(75,782)
Income (loss) before income taxes					$	44,004

Changes in goodwill from January 1, 2021 through December 31, 2021 were as follows:


	Chemical
	(In thousands)
Balance at January 1, 2021	$	375,061

Foreign currency translation	(2,144)
Balance at December 31, 2021	$	372,917

Long-Lived Assets Including Goodwill and Total Assets


	December 31, 2021						December 31, 2020
	Polymer		Chemical		Total		Polymer		Chemical		Total
	(In thousands)
Property, plant, and equipment, net	$	521,304	$	413,539	$	934,843	$	523,067	$	419,636	$	942,703
Investment in unconsolidated joint venture	$	12,023	$	—	$	12,023	$	12,723	$	—	$	12,723
Goodwill	$	—	$	372,917	$	372,917	$	—	$	375,061	$	375,061
Total assets	$	1,259,912	$	1,394,696	$	2,654,608	$	1,104,954	$	1,356,003	$	2,460,957

Revenue by Geographic Region