10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 _______________________________________

FORM 10-Q

 ___________________________________________

(Mark One)

x	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the quarterly period ended September 30, 2014

OR

o	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the transition period from              to               .

Commission File Number 001-33124

 ___________________________________________

INNOPHOS HOLDINGS, INC.

(Exact Name of Registrant as Specified in its Charter)

 ___________________________________________

Delaware	20-1380758
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification No.)
259 Prospect Plains Road Cranbury, New Jersey	08512
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s Telephone Number, Including Area Code: (609) 495-2495

 ____________________________________________

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definition of “accelerated filer,” “large accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer	x	Accelerated Filer	o
Non-accelerated filer	o	Smaller reporting company	o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  o    No  x

As of September 30, 2014, the registrant had 21,741,864 shares of common stock outstanding.

TABLE OF CONTENTS

		Page
PART I
Item 1.	Financial Statements	3
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	21
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	33
Item 4.	Controls and Procedures	34
PART II
Item 1.	Legal Proceedings	35
Item 1A.	Risk Factors	35
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	35
Item 3.	Defaults Upon Senior Securities	35
Item 4.	Mine Safety Disclosures	35
Item 5.	Other Information	35
Item 6.	Exhibits	35
Signatures		36

Page 2 of 37

PART I

ITEM 1. FINANCIAL STATEMENTS

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets (Unaudited)

(Dollars in thousands, except per share amounts, the number of shares or where otherwise noted)

	September 30, 2014			December 31, 2013
ASSETS
Current assets:
Cash and cash equivalents	$	45,164		$	32,755
Accounts receivable, net	94,699			88,434
Inventories	163,726			181,467
Other current assets	78,361			81,961
Total current assets	381,950			384,617
Property, plant and equipment, net	199,976			201,985
Goodwill	84,373			84,373
Intangibles and other assets, net	71,373			74,691
Total assets	$	737,672		$	745,666
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt	$	4,003		$	4,002
Accounts payable, trade and other	43,300			38,717
Other current liabilities	41,733			34,613
Total current liabilities	89,036			77,332
Long-term debt	124,003			159,007
Other long-term liabilities	46,738			45,908
Total liabilities	$	259,777		$	282,247
Commitments and contingencies (note 13)
Common stock, par value $.001 per share; authorized 100,000,000; issued 22,429,798 and 22,327,670; outstanding 21,741,864 and 21,893,137 shares	22			22
Paid-in capital	123,708			120,046
Common stock held in treasury, at cost (687,934 and 434,533 shares)	(33,984		)	(19,599		)
Retained earnings	389,574			364,515
Accumulated other comprehensive loss	(1,425		)	(1,565		)
Total stockholders' equity	477,895			463,419
Total liabilities and stockholders' equity	$	737,672		$	745,666

See notes to condensed consolidated financial statements

Page 3 of 37

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Comprehensive Income (Unaudited)

(Dollars in thousands, except per share amounts, the number of shares or where otherwise noted)

	Three months ended					Nine months ended
	September 30, 2014		September 30, 2013			September 30, 2014			September 30, 2013
Net sales	$	208,815	$	219,993		$	644,698		$	647,610
Cost of goods sold	157,852		181,288			499,230			530,976
Gross profit	50,963		38,705			145,468			116,634
Operating expenses:
Selling, general and administrative	19,419		17,156			58,075			53,451
Research & development expenses	1,168		828			3,264			2,407
Total operating expenses	20,587		17,984			61,339			55,858
Operating income	30,376		20,721			84,129			60,776
Interest expense, net	1,089		1,709			2,922			4,455
Foreign exchange loss	1,804		674			1,763			3,091
Income before income taxes	27,483		18,338			79,444			53,230
Provision for income taxes	9,163		7,398			26,311			18,320
Net income	$	18,320	$	10,940		$	53,133		$	34,910
Net income attributable to participating common shareholders	$	18,281	$	10,924		$	53,021		$	34,856
Per share data (note 2):
Income per participating share:
Basic	$	0.84	$	0.50		$	2.43		$	1.59
Diluted	$	0.83	$	0.49		$	2.39		$	1.56
Weighted average participating shares outstanding:
Basic	21,741,050		21,947,948			21,826,771			21,932,814
Diluted	22,128,143		22,323,705			22,204,914			22,322,987
Other comprehensive (loss) income, net of tax:
Change in interest rate swaps, (net of tax $220, ($213), ($48) and $700)	$	358	$	(347	)	$	(78	)	$	1,142
Change in pension and post-retirement plans, (net of tax $47, $4, $67 and $258)	146		6			218			362
Other comprehensive (loss) income, net of tax	$	504	$	(341	)	140			1,504
Comprehensive income	$	18,824	$	10,599		$	53,273		36,414

See notes to condensed consolidated financial statements

Page 4 of 37

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Cash Flows (Unaudited)

(Dollars in thousands)

	Nine months ended
	September 30, 2014			September 30, 2013
Cash flows from operating activities
Net income	$	53,133		$	34,910
Adjustments to reconcile net income to net cash provided from operating activities:
Depreciation and amortization	26,643			27,794
Amortization of deferred financing charges	393			425
Deferred income tax (benefit) provision	(71		)	610
Share-based compensation	2,688			1,766
Changes in assets and liabilities:
Increase in accounts receivable	(6,265		)	(5,197		)
Decrease in inventories	17,741			5,008
Decrease in other current assets	2,766			17,211
Increase in accounts payable	4,583			7,079
Increase (decrease) in other current liabilities	7,120			(16,226		)
Changes in other long-term assets and liabilities	1,408			650
Net cash provided from operating activities	110,139			74,030
Cash flows used for investing activities:
Capital expenditures	(21,000		)	(30,333		)
Acquisition of intangible assets	(294		)	—
Net cash used for investing activities	(21,294		)	(30,333		)
Cash flows used for financing activities:
Proceeds from exercise of options	159			500
Long-term debt borrowings	—			28,000
Long-term debt repayments	(35,003		)	(42,000		)
Excess tax benefits from exercise of stock options	814			1,877
Common stock repurchases and restricted stock forfeitures	(14,384		)	(70		)
Dividends paid	(28,022		)	(23,020		)
Net cash used for financing activities	(76,436		)	(34,713		)
Net change in cash	12,409			8,984
Cash and cash equivalents at beginning of period	32,755			26,815
Cash and cash equivalents at end of period	$	45,164		$	35,799

See notes to condensed consolidated financial statements

Page 5 of 37

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Statement of Stockholders’ Equity (Unaudited)

(Dollars and shares in thousands)

	Number of Common Shares		Common Stock		Retained Earnings			Paid-in Capital			Accumulated Other Comprehensive Income/(Loss)			Total Shareholders' Equity
Balance, December 31, 2012	21,831		$	22	$	346,866		$	103,371		$	(5,936	)	$	444,323
Net income					49,506									49,506
Other comprehensive income, (net of tax $2,184)											4,371			4,371
Proceeds from stock award exercises and issuances	217		—					(759		)				(759		)
Share-based compensation								2,174						2,174
Excess tax benefits from exercise of stock options								2,849						2,849
Common stock repurchases	(150	)						(7,118		)				(7,118		)
Restricted stock forfeitures	(5	)						(70		)				(70		)
Dividends declared					(31,857		)							(31,857		)
Balance, December 31, 2013	21,893		$	22	$	364,515		$	100,447		$	(1,565	)	$	463,419
Net income					53,133									53,133
Other comprehensive loss, (net of tax $19)											140			140
Proceeds from stock award exercises and issuances	103							159						159
Share-based compensation								2,688						2,688
Common stock repurchases	(250	)						(14,182		)				(14,182		)
Excess tax benefits from exercise of stock options								814						814
Restricted stock forfeitures	(4	)						(202		)				(202		)
Dividends declared					(28,074		)							(28,074		)
Balance, September 30, 2014	21,742		$	22	$	389,574		$	89,724		$	(1,425	)	$	477,895

See notes to condensed consolidated financial statements

Page 6 of 37

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, the number of shares or where otherwise noted)

1. Basis of Statement Presentation

Summary of Significant Accounting Policies

The accompanying unaudited condensed consolidated financial statements of Innophos Holdings, Inc. and Subsidiaries, or Company, have been prepared in accordance with generally accepted accounting principles in the United States of America (U.S.) for interim financial reporting and do not include all disclosures required by generally accepted accounting principles in the U.S. for annual financial reporting, and should be read in conjunction with the audited consolidated and combined financial statements of the Company at December 31, 2013 and for the three years then ended.

The accompanying unaudited condensed consolidated financial statements of the Company reflect all adjustments which management considers necessary for a fair statement of the results of operations for the interim periods and is subject to year-end adjustments. The results of operations for the interim periods are not necessarily indicative of the results for the full year. The December 31, 2013 condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the U.S.

Certain prior year balances have been reclassified to conform to current year presentation.

Out of Period Adjustments

During the first quarter of fiscal 2013, we identified an adjustment necessary for a long-term supply contract. We corrected this item during the first quarter of fiscal 2013, which had the effect of increasing cost of goods sold by $2.3 million, and decreasing net income by $1.6 million for the nine month period ended September 30, 2013. This prior period adjustment was not material to the financial results of the previously issued annual or interim financial statements.

Recently Issued Accounting Standards

Adopted

None.

Issued but not yet adopted

In April 2014, the FASB issued amendments to guidance for reporting discontinued operations and disposals of components of an entity. The amended guidance requires that a disposal representing a strategic shift that has (or will have) a major effect on an entity’s financial results or a business activity classified as held for sale should be reported as discontinued operations. The amendments also expand the disclosure requirements for discontinued operations and add new disclosures for individually significant dispositions that do not qualify as discontinued operations. The amendments are effective prospectively for fiscal years, and interim reporting periods within those years, beginning after December 15, 2014 (early adoption is permitted only for disposals that have not been previously reported). The implementation of the amended guidance is not expected to have a material impact on our consolidated financial position or results of operations and related disclosures.

In May 2014, the FASB issued guidance on revenue from contracts with customers that will supersede most current revenue recognition guidance, including industry-specific guidance. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The guidance provides a five-step analysis of transactions to determine when and how revenue is recognized. Other major provisions include capitalization of certain contract costs, consideration of time value of money in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. The guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. The guidance is effective for the interim and annual periods beginning on or after December 15, 2016 (early adoption is not permitted). The guidance permits the use of either a retrospective or cumulative effect transition method. We have not yet selected a transition method and are currently evaluating the impact of the amended guidance on our consolidated financial position, results of operations and related disclosures.

In June 2014, the FASB issued guidance which requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the

Page 7 of 37

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

compensation cost attributable to the period(s) for which the requisite service has already been rendered. The guidance is effective for the interim and annual periods beginning on or after December 15, 2015; early adoption is permitted. We do not anticipate that the adoption of this standard will have a material impact on our financial position, results of operations and related disclosures.

In August 2014 the FASB issued guidance which establishes management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. The amendments require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles in U.S. auditing standards. Specifically, ASU 2014-15 provides a definition of the term substantial doubt and requires an assessment for a period of one year after the date that the financial statements are issued or available to be issued. It also requires certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans and requires an express statement and other disclosures when substantial doubt is not alleviated. The guidance is effective for the interim and annual periods beginning on or after December 15, 2016; early adoption is permitted. We do not anticipate that the adoption of this standard will have a material impact on our financial position, results of operations and related disclosures.

2. Earnings per share (EPS)

The Company accounts for earnings per share in accordance with ASC 260 and related guidance, which requires two calculations of earnings per share (EPS) to be disclosed: basic EPS and diluted EPS. Under ASC Subtopic 260-10-45, as of January 1, 2009 unvested awards of share-based payments with rights to receive dividends or dividend equivalents, such as our restricted stock, are considered participating securities for purposes of calculating EPS. Under the two-class method, a portion of net income is allocated to these participating securities and therefore is excluded from the calculation of EPS allocated to common stock, as shown in the table below.

The numerator for basic and diluted earnings per share is net earnings attributable to shareholders reduced by dividends attributable to unvested shares. The denominator for basic earnings per share is the weighted average number of common stock outstanding during the period. The denominator for diluted earnings per share is weighted average shares outstanding adjusted for the effect of dilutive outstanding stock options, performance share awards and restricted stock awards.

Page 8 of 37

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

The following is a reconciliation of the weighted average basic number of common shares outstanding to the diluted number of common and common stock equivalent shares outstanding and the calculation of earnings per share using the two-class method:

	Three Months Ended						Nine Months Ended
	September 30, 2014			September 30, 2013			September 30, 2014			September 30, 2013
Net income	$	18,320		$	10,940		$	53,133		$	34,910
Less: earnings attributable to unvested shares	(39		)	(16		)	(112		)	(54		)
Net income available to participating common shareholders	$	18,281		$	10,924		$	53,021		$	34,856
Weighted average number of participating common and potential common shares outstanding:
Basic number of participating common shares outstanding	21,741,050			21,947,948			21,826,771			21,932,814
Dilutive effect of stock equivalents	387,093			375,757			378,143			390,173
Diluted number of weighted average participating common shares outstanding	22,128,143			22,323,705			22,204,914			22,322,987
Earnings per participating common share:
Earnings per participating common share—Basic	$	0.84		$	0.50		$	2.43		$	1.59
Earnings per participating common share—Diluted	$	0.83		$	0.49		$	2.39		$	1.56
Total outstanding options, performance share awards and unvested restricted stock not included in the calculation of diluted earnings per share as the effect would be anti-dilutive	321,102			396,952			330,052			382,503

3. Dividends

The following is the dividend activity for the three and nine months ended September 30, 2014 and September 30, 2013:

	Three Months Ended				Nine Months Ended
	September 30				September 30
	2014		2013		2014		2013
Dividends declared – per share	$	0.48	$	0.35	$	1.28	$	1.05
Dividends declared – aggregate	10,477		7,694		28,022		23,020
Dividends paid – per share	0.48		0.35		1.28		1.05
Dividends paid – aggregate	10,477		7,694		28,022		23,020

We are a holding company that does not conduct any business operations of our own. As a result, we are dependent upon cash dividends, distributions and other transfers from our subsidiaries, most directly Innophos, Inc., our primary operating subsidiary, and Innophos Investments Holdings, Inc., its parent, to make dividend payments on our Common Stock. The Company's Board of Directors declared an increase to its quarterly dividend to $0.48 per share to be paid in the third quarter of 2014.

4. Stockholders’ Equity / Stock-Based Compensation

Our compensation programs include share-based payments. The primary share-based awards and their general terms and conditions currently in effect are as follows:

Page 9 of 37

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

• Restricted stock grants, which entitle the holder to receive, at the end of each vesting term, a specified number of shares of the Company's common stock, and which also entitle the holder to receive dividends paid on such grants throughout the vesting period.

• Stock options, which entitle the holder to purchase, after the end of a vesting term, a specified number of shares of the Company’s common stock at an exercise price per share set equal to the market price of the Company’s common stock on the date of grant.

• Performance share awards which entitle the holder to receive, at the end of a vesting term, a number of shares of the Company’s common stock, within a range of shares from zero to a specified maximum (generally 200%), calculated using a combination of performance indicators as defined solely by reference to the Company’s own activities. Amounts equivalent to dividends will accrue over the performance period and are paid on performance share awards when vested and distributed.

• Annual stock retainer grants, which entitle independent members of the Board of Directors to receive a number of shares of the Company’s common stock equal to a fixed retainer value.

Restricted Stock

On March 28, 2014 there were a total of 26,574 restricted shares granted to certain employees with a fair value of $1.5 million. These awards are classified as equity awards and vest annually over three years. The related compensation expense is based on the date of grant share price of $55.49. The compensation expense is amortized on a straight-line basis over the requisite vesting period and accelerated for those employees that are retirement eligible during the vesting period.

Stock Options

On March 28, 2014 the Company granted 76,720 non-qualified stock options at an exercise price of $55.49 per share to certain employees with a fair value of $1.5 million. The non-qualified stock options vest annually over three years with a March 28, 2024 expiration date.

The fair value of the options granted during 2014 was determined using the Black-Scholes option-pricing model. The assumptions used in the Black-Scholes option-pricing model were as follows:

Non-qualified stock options
Expected volatility	50.1		%
Dividend yield	3.2		%
Risk-free interest rate	2.0		%
Expected term (years)	6
Weighted average grant date fair value of stock options	$	20.15

For the 2014 grants the Company had chosen a blended volatility which consists of 50% historical volatility average of a peer group and 50% historical volatility of Innophos. The expected term for the stock options is based on the simplified method since the Company has limited data on the exercises of stock options. These stock options qualify as “plain vanilla” stock options in accordance with SAB 110. The dividend yield is the expected annual dividend payments divided by the average stock price up to the date of grant. The risk-free interest rates are derived from the U.S. Treasury securities in effect on the date of grant whose maturity period equals the options expected term. The Company applies an expected forfeiture rate to stock-based compensation expense. The estimate of the forfeiture rate is based primarily upon historical experience of employee turnover. As actual forfeitures become known, stock-based compensation expense is adjusted accordingly.

Performance Share Awards

On March 28, 2014, the Company granted 44,321 performance shares to certain employees with a fair value of $2.5 million. The performance shares vest at the end of the three year performance cycle and the number of shares distributable depends on the extent to which the Company attains pre-established performance goals. Amounts equivalent to declared dividends will accrue on the performance shares and will vest over the same period.

Page 10 of 37

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

Stock Grants

In May 2014 the five external members of the Board of Directors were granted a combined total of 5,145 shares of the Company's common stock with an aggregated fair value of approximately $0.3 million which immediately vested as part of their director fees.

The following table summarizes the components of stock-based compensation expense, all of which has been classified as selling, general and administrative expense:

	Three Months Ended					Nine Months Ended
	September 30, 2014		September 30, 2013			September 30, 2014		September 30, 2013
Stock options	$	241	$	73		$	1,056	$	772
Restricted stock	273		169			830		517
Performance shares	199		(227		)	532		177
Stock grants	—		—			270		300
Total share-based compensation expense	$	713	$	15		$	2,688	$	1,766

During 2011 the Board of Directors authorized a repurchase program for Company common stock of up to $50 million. Under the program, shares will be repurchased from time to time at management's discretion, either through open market transactions, block purchases, private transactions or other means and will be funded through existing liquidity and cash from operations. A five year time limit has been set for the expiration of the program as initially structured. The timing of repurchases and the exact number of shares of common stock to be purchased will depend upon market conditions and other factors. However, annual repurchase amounts are expected at a minimum to be sufficient to reduce significantly, or eliminate, earnings per share dilution caused by shares issued upon the exercise of stock options and in connection with other equity based compensation plans. Treasury stock is recognized at the cost to reacquire the shares. During the second quarter of 2014, the Company repurchased 112,002 shares of its common stock on the open market at an average price of 55.16 per share or $6.2 million. During the third quarter of 2014, the Company repurchased 137,781 shares of its common stock on the open market at an average price of 58.09 per share or $8.0 million.

5. Inventories

Inventories consist of the following:

	September 30, 2014		December 31, 2013
Raw materials	$	46,660	$	60,157
Finished products	104,276		108,334
Spare parts	12,790		12,976
	$	163,726	$	181,467

Inventory reserves for excess quantities, obsolescence or shelf-life expiration as of September 30, 2014 and December 31, 2013 were $13,075 and $13,857, respectively.

Page 11 of 37

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

6. Other Current Assets

Other current assets consist of the following:

	September 30, 2014		December 31, 2013
Creditable taxes (value added taxes)	$	24,681	$	24,257
Vendor inventory deposits (prepaid)	10,939		14,820
Prepaid income taxes	16,631		12,269
Deferred income taxes	21,244		22,078
Other	4,866		8,537
	$	78,361	$	81,961

7. Intangibles and Other Assets, net

Intangibles and other assets consist of the following:

	Useful life (years)	September 30, 2014		December 31, 2013
Developed technology and application patents, net of accumulated amortization of $21,184 for 2014 and $19,015 for 2013	7-20	$	23,942	$	25,817
Customer relationships, net of accumulated amortization of $12,364 for 2014 and $10,295 for 2013	5-15	26,448		28,517
Tradenames and license agreements, net of accumulated amortization of $7,231 for 2014 and $6,198 for 2013	5-20	10,430		11,463
Non-compete agreements, net of accumulated amortization of $914 for 2014 and $796 for 2013	3-10	419		537
Total intangibles		$	61,239	$	66,334
Deferred financing costs, net of accumulated amortization of $2,044 for 2014 and $1,652 for 2013 (see note 9)		$	1,616	$	2,008
Other assets		8,518		6,349
Total other assets		$	10,134	$	8,357
		$	71,373	$	74,691

8. Other Current Liabilities

Other current liabilities consist of the following:

	September 30, 2014		December 31, 2013
Payroll related	$	11,889	$	8,680
Taxes other than income taxes	4,558		5,610
Benefits and pensions	6,651		7,240
Freight and rebates	3,792		3,960
Income taxes	8,166		4,368
Other	6,677		4,755
	$	41,733	$	34,613

Page 12 of 37

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

9. Short-term Borrowings, Long-Term Debt, and Interest Expense

Short-term borrowings and long-term debt consist of the following:

	September 30, 2014		December 31, 2013
Term loan due 2017	$	93,000	$	96,000
Revolver borrowings under the credit facility	35,000		67,000
Capital leases	6		9
Total borrowings	$	128,006	$	163,009
Less current portion	4,003		4,002
Long-term debt	$	124,003	$	159,007

The Company's credit facility includes a term loan of $100.0 million and a revolving line of credit from the Lenders of up to $225.0 million, including a $20.0 million letter of credit sub-facility, all maturing on December 21, 2017. Repayments of the term loan are required at the rate of 1% of original principal amount per quarter beginning on March 31, 2013.

As of September 30, 2014, $93.0 million was outstanding under the Term Loan and $35.0 million was outstanding under the revolving line of credit, both of which approximate fair value because they have a floating interest rate (determined using level 2 inputs within the fair value hierarchy) with total availability at $187.7 million, taking into account $2.3 million in face amount of letters of credit issued under the sub-facility. The current weighted average interest rate for all debt is 2.5%.

Simultaneously with initiating the new senior facility, Innophos entered into an interest rate swap, swapping the LIBOR exposure on $100.0 million adjusting quarterly consistent with the Term Loan, with a fixed rate of 0.9475% plus the applicable margin on the debt expiring in December 2017. This interest rate swap has been designated as a cashflow hedge (Level 2) with the changes in value recorded through other comprehensive income. The fair value of this interest rate swap is an asset of approximately $1.0 million as of September 30, 2014.

We manage our interest rate risk by balancing the amount of fixed-rate and floating-rate debt to the extent practicable consistent with our credit status.

Total interest paid by the Company for all indebtedness for the nine months ended September 30, 2014 and September 30, 2013 was $3,154 and $3,429, respectively.

As of September 30, 2014, the Company was in full compliance with all debt covenant requirements.

Interest expense, net consists of the following:

	Three months ended						Nine months ended
	September 30, 2014			September 30, 2013			September 30, 2014			September 30, 2013
Interest expense	$	1,008		$	1,664		$	2,615		$	4,280
Deferred financing cost	130			137			393			425
Interest income	(14		)	(8		)	(28		)	(29		)
Less: amount capitalized for capital projects	(35		)	(84		)	(58		)	(221		)
Total interest expense, net	$	1,089		$	1,709		$	2,922		$	4,455

Page 13 of 37

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

10. Other Long-Term Liabilities

Other long-term liabilities consist of the following:

	September 30, 2014		December 31, 2013
Deferred income taxes	$	30,879	$	32,110
Pension and post retirement liabilities	10,844		11,175
Environmental liabilities	1,100		1,100
Other liabilities	3,915		1,523
	$	46,738	$	45,908

11. Income Taxes

The effective income tax rate on income before taxes was approximately 33% for the nine months ended September 30, 2014 compared to approximately 34% for the comparable period in 2013. The variance in the effective tax rate is primarily due to increased taxable income in lower tax rate jurisdictions, the Mexican CNA Water Tax Claims and other international benefits being recorded as discrete items for income tax provision purposes in the prior year which decreased the prior year effective tax rate by 3%, uncertain income tax position benefits which decreased the effective tax rate by 3% from the prior year and state research and development credits which decreased the current year effective tax rate by 1%.

Business is conducted in various countries throughout the world and is subject to tax in numerous jurisdictions. A significant number of tax returns are filed and subject to examination by various federal, state and local tax authorities. Tax examinations are often complex, as tax authorities may disagree with the treatment of items reported requiring several years to resolve. As such, the Company maintains liabilities for possible assessments by tax authorities resulting from known tax exposures for uncertain income tax positions. The Company’s policy is to accrue associated penalties in selling, general and administrative expenses and to accrue interest in net interest expense. Currently, the Company is under examination, or has been contacted for examination on income tax returns for the years 2007 through 2011. In addition, Innophos Canada, Inc. was assessed approximately $4.0 million for the tax years 2007 and 2008 by the Canadian tax authorities. The Company is contesting the full assessment. The Company believes that its tax position is more likely than not to be sustained and has not recorded a charge for this tax matter. The Company recognized in the consolidated statement of income approximately $0.7 million of benefit as a result of settlements with income tax authorities offset by revisions for existing uncertain income tax positions for the nine months ended September 30, 2014. The Company has also recognized a benefit of approximately $0.2 million for interest and penalties in the consolidated statement of income for the nine months ended September 30, 2014. It is reasonably possible that new issues will be raised by tax authorities which may require adjustments to the amount of unrecognized tax benefits, however as of September 30, 2014, the Company estimates the liability for unrecognized tax benefits will not change during the next twelve months. Other than the items mentioned above, as of September 30, 2014, no material adjustments have been proposed to the Company's tax positions and the Company currently does not anticipate any adjustments that would result in a material change to its financial position during the next twelve months.

Income taxes paid were $24,123 and $21,273 for the nine months ended September 30, 2014 and September 30, 2013, respectively.

12. Commitments and Contingencies

Environmental

The Company's operations are subject to extensive and changing federal and state environmental laws and regulations. The Company's manufacturing sites have an extended history of industrial use, and soil and groundwater contamination have or may have occurred in the past and might occur or be discovered in the future.

Environmental efforts are difficult to assess for numerous reasons, including the discovery of new remedial sites, discovery of new information and scarcity of reliable information pertaining to certain sites, improvements in technology, changes in environmental laws and regulations, numerous possible remedial techniques and solutions, difficulty in assessing the involvement of and the financial capability of other potentially responsible parties and the extended time periods over which remediation occurs. Other than the items listed below, the Company is not aware of material environmental liabilities which are

Page 14 of 37

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

probable and estimable. As the Company's environmental contingencies are more clearly determined, it is reasonably possible that amounts may need to be accrued. However, management does not believe, based on current information, that environmental remediation requirements will have a material impact on the Company's results of operations, financial position or cash flows.

Future environmental spending is probable at our site in Nashville, TN, the eastern portion of which had been used historically as a landfill, and a western parcel previously acquired from a third party, which reportedly had housed, but no longer does, a fertilizer and pesticide manufacturing facility. We have an estimated liability with a range of $0.9 million-$1.2 million. The remedial action plan for that site has yet to be finalized, and as such, the Company has recorded a liability, which represents the Company's best estimate, of $1.1 million as of September 30, 2014.

Litigation

2008 RCRA Civil Enforcement - Geismar, Louisiana plant

Following several inspections by the Environmental Protection Agency, or EPA, at our Geismar, LA purified phosphoric acid, or PPA, plant and related submissions we made to support claimed exemptions from the federal Resource, Conservation and Recovery Act, or RCRA, in March 2008, EPA referred our case to the Department of Justice, or DOJ, for civil enforcement. Although no citations were ever issued or formal proceedings instituted, the agencies claim we violate RCRA by failing to manage appropriately two materials that DOJ/EPA alleges are hazardous wastes. Those materials are: (i) Filter Material from an enclosed intermediate filtration step to further process green phosphoric acid we receive as raw material via pipeline from the adjacent site operated by an affiliate of Potash Corporation of Saskatchewan, or PCS; and (ii) Raffinate, a co-product we return to PCS under a long-term contract we have with PCS.

Since referral of the case to DOJ, we and PCS have engaged in periodic discussions with DOJ/EPA and the Louisiana Department of Environmental Quality, or LDEQ, or collectively the Government Parties, in order to resolve the matter. In addition to asserting that the two materials in question are not hazardous wastes, we have also sought to demonstrate that both the nature and character of the materials as well as their use, handling and disposition were detailed in a solid waste permit amendment application filed in 1989 by PCS's predecessor, when our plant was first constructed, and approved by the LDEQ under the state RCRA program.

In the course of discussions with the Government Parties, the DOJ/EPA has required that we undertake, as an interim measure, the construction of a new filter unit to replace the closed system and allow the removal and separate handling of the Filter Material. We built that unit, which has been operating since 2012.

In an attempt to address the remaining concerns of the Government Parties, we and PCS undertook joint efforts to explore possible technical solutions to the issue of Raffinate treatment. Based upon work so far, there appears to be at least one technically viable approach, namely that of “deep well injection,” which we believe is acceptable to regulators as part of a negotiated solution among the parties.

Although we cannot give assurances as to the future course or ultimate outcome of ongoing negotiations, including whether litigation may ultimately ensue, we believe, based on our appreciation of the current state of the proceedings, that deep well injection is likely to be employed as the technologically acceptable approach for Raffinate and that we will not be asked to contribute substantially to the cost of the deep well to be specified by the Government Parties in an anticipated consent decree for settlement of this enforcement matter. However, in negotiated settlements leading to consent decrees with the Governmental Parties, it is also common for penalties relating to previous “non-compliance” to be assessed and, in that connection, we have been advised by the Governmental Parties that they expect to seek penalties against both PCS and us in this case. Although we have argued and made submissions to the effect that for purposes of settlement penalties there is no basis for any substantial penalty to be levied against us, nevertheless, we can give no assurance as to that outcome, or if a penalty is initially assessed as to its amount, or whether it will be necessary for us to oppose or seek indemnity for the assessment by further litigation. Based upon our receipt of a draft consent decree from the Government Parties in June 2014 and subsequent discussions with them, we have established an accrual of $0.9 million for settlement civil penalties. However, further discussions among all parties will be necessary to determine if the matter can be resolved by settlement.

Page 15 of 37

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

Other Legal Matters

In March 2008, Sudamfos S.A., or Sudamfos, an Argentine phosphate producer, filed an arbitration before the ICC International Court of Arbitration, Paris, France, concerning an alleged agreement for our Mexicana subsidiary, Mexicana, to sell it 12,500 metric tons of phosphoric acid, but subsequently withdrew the proceeding. In October 2008, Mexicana filed suit in Mexico against Sudamfos to collect approximately $1.2 million representing the contract price for prior deliveries of phosphoric acid for which Sudamfos had refused to pay. In October 2009, Sudamfos answered the suit and counterclaimed for $3.0 million based upon the agreement originally alleged in the arbitration. In subsequent proceedings including available appeals, Mexicana's claim was sustained and Sudamfos' counterclaim was denied. Mexicana has now begun formal collection proceedings against Sudamfos.

In July 2013, Innophos, Inc. was assessed approximately $1.2 million of sales/use taxes by the State of Louisiana and Ascension Parish. This tax assessment covers certain raw materials used in the production of Phosphoric Acid. The Company is contesting both tax assessments. This assessment covers periods 2004 to 2010 for the Parish and 2007 to 2010 for the State. We have concluded that the contingent liability arising from this matter is neither remote nor probable, but reasonably possible.

In addition, we are party to legal proceedings and contractual disputes that arise in the ordinary course of our business. Except as to the matters specifically discussed, management believes that these matters represent remote liabilities. However, these matters cannot be predicted with certainty and an unfavorable resolution of one or more of them could have a material adverse effect on our business, results of operations, financial condition, and/or cash flows.

13. Pension Plans and Postretirement Benefits

Net periodic benefit expense for the United States plans:

	For the three months ended September 30, 2014									For the three months ended September 30, 2013
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits		Total
Service cost	$	—		$	78		$	78		$	—		$	91	$	91
Interest cost	30			44			74			27			40		67
Expected return on assets	(30		)	—			(30		)	(27		)	—		(27		)
Amortization of
prior service cost	—			—			—			—			—		—
unrecognized (gain) loss	—			(10		)	(10		)	14			—		14
Net periodic cost	$	—		$	112		$	112		$	14		$	131	$	145
	For the nine months ended September 30, 2014									For the nine months ended September 30, 2013
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits		Total
Service cost	$	—		$	234		$	234		$	—		$	273	$	273
Interest cost	91			131			222			81			121		202
Expected return on assets	(91		)	—			(91		)	(82		)	—		(82		)
Amortization of
prior service cost	—			—			—			—			—		—
unrecognized (gain) loss	—			(30		)	(30		)	42			—		42
Net periodic cost	$	—		$	335		$	335		$	41		$	394	$	435

In April 2014, Innophos contributed approximately $0.2 million to its U.S. defined benefit pension plan to satisfy the full year 2014 minimum contribution requirements.

Page 16 of 37

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

Innophos made its entire cash contribution of $2.9 million for the U.S. defined contribution plan during the first quarter of 2014 for the plan year 2013.

Net periodic benefit expense for the Canadian plans:

	For the three months ended September 30, 2014									For the three months ended September 30, 2013
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits			Total
Service cost	$	79		$	18		$	97		$	86		$	19		$	105
Interest cost	144			21			165			138			20			158
Expected return on assets	(234		)	—			(234		)	(223		)	—			(223		)
Amortization of
actuarial loss (gain)	25			4			29			78			9			87
prior service cost	24			—			24			25			—			25
net transition obligation	—			7			7			—			8			8
Exchange rate changes	329			(74		)	255			(18		)	4			(14		)
Net periodic cost	$	367		$	(24	)	$	343		$	86		$	60		$	146
	For the nine months ended September 30, 2014									For the nine months ended September 30, 2013
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits			Total
Service cost	$	238		$	52		$	290		$	263		$	58		$	321
Interest cost	431			64			495			420			61			481
Expected return on assets	(700		)	—			(700		)	(679		)	—			(679		)
Amortization of
actuarial loss (gain)	75			11			86			238			27			265
prior service cost	71			—			71			76			—			76
net transition obligation	—			21			21			—			23			23
Exchange rate changes	304			(68		)	236			186			(43		)	143
Net periodic cost	$	419		$	80		$	499		$	504		$	126		$	630

Innophos Canada, Inc. made cash contributions to its Canadian defined benefit plan of $0.4 million during the nine months ended September 30, 2014. Innophos Canada, Inc. does not plan to make any more cash contributions to its Canadian defined benefit plan during the remainder of 2014.

Page 17 of 37

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

14. Accumulated Other Comprehensive Income (Loss)

Changes in Accumulated Other Comprehensive Income by Component:

For the three months ended September 30, 2014	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at June 30, 2014	$	(2,215	)	$	286		$	(1,929	)
Other comprehensive income (loss) before reclassifications	146			358			504
Amounts reclassified from accumulated other comprehensive income	—			—			—
Net current period other comprehensive income (loss)	146			358			504
Balance at September 30, 2014	$	(2,069	)	$	644		$	(1,425	)
For the three months ended September 30, 2013	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at June 30, 2013	$	(4,957	)	$	866		$	(4,091	)
Other comprehensive income before reclassifications	6			(347		)	(341		)
Amounts reclassified from accumulated other comprehensive income	—			—			—
Net current period other comprehensive income	6			(347		)	(341		)
Balance at September 30, 2013	$	(4,951	)	$	519		$	(4,432	)
For the nine months ended September 30, 2014	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at December 31, 2013	$	(2,287	)	$	722		$	(1,565	)
Other comprehensive income (loss) before reclassifications	218			(78		)	140
Amounts reclassified from accumulated other comprehensive income	—			—			—
Net current period other comprehensive income (loss)	218			(78		)	140
Balance at September 30, 2014	$	(2,069	)	$	644		$	(1,425	)
For the nine months ended September 30, 2013	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at December 31, 2012	$	(5,313	)	$	(623	)	$	(5,936	)
Other comprehensive income before reclassifications	362			1,142			1,504
Amounts reclassified from accumulated other comprehensive income	—			—			—
Net current period other comprehensive income	362			1,142			1,504
Balance at September 30, 2013	$	(4,951	)	$	519		$	(4,432	)

15. Segment Reporting

The company discloses certain financial and supplementary information about its reportable segments, revenue by products and revenues by geographic area. Operating segments are defined as components of an enterprise about which separate discrete financial information is evaluated regularly by the chief operating decision maker, in order to decide how to

Page 18 of 37

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

allocate resources and assess performance. The primary performance indicators for the chief operating decision maker are sales and operating income, with sales presented on a ship-from basis. All references to sales in this Form 10-Q, either on a ship-from or ship-to basis, are on the same basis of revenue recognition and are recognized when title and risk of loss passes to the customer, which occurs either upon shipment or delivery, depending upon the agreed sales terms with customers.

The Company's reportable segments reflect the core businesses in which Innophos operates and how it is managed. The Company reports its core specialty phosphates business separately from granular triple super-phosphate, or GTSP, and other non-specialty phosphate products (GTSP & Other). Kelatron, AMT, CMI and Triarco are included in the Specialty Phosphates US & Canada segment and in the Specialty Ingredients product line. Specialty Phosphates consists of the products lines Specialty Ingredients, Food & Technical Grade PPA, and STPP & Detergent Grade PPA. GTSP & Other includes fertilizer co-product GTSP and other non-specialty phosphate products.

For the three months ended September 30, 2014	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	147,220	$	43,075	$	18,520		$	—		$	208,815
Intersegment sales	2,086		11,094		55			(13,235		)	—
Total sales	$	149,306	$	54,169	$	18,575		$	(13,235	)	$	208,815
Operating income	$	23,603	$	5,904	$	869		$	—		$	30,376
Depreciation and amortization expense	$	6,483	$	2,156	$	605		$	—		$	9,244
For the three months ended September 30, 2013	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	153,588	$	44,712	$	21,693		$	—		$	219,993
Intersegment sales	720		16,972		—			(17,692		)	—
Total sales	$	154,308	$	61,684	$	21,693		$	(17,692	)	$	219,993
Operating income	$	21,482	$	2,964	$	(3,725	)	$	—		$	20,721
Depreciation and amortization expense	$	6,967	$	1,740	$	236		$	—		$	8,943
For the nine months ended September 30, 2014	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	455,497	$	128,449	$	60,752		$	—		$	644,698
Intersegment sales	3,636		38,852		94			(42,582		)	—
Total sales	$	459,133	$	167,301	$	60,846		$	(42,582	)	$	644,698
Operating income	$	65,150	$	22,085	$	(3,106	)	$	—		$	84,129
Depreciation and amortization expense	$	18,092	$	7,202	$	1,349					$	26,643
For the nine months ended September 30, 2013	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	463,633	$	126,997	$	56,980		$	—		$	647,610
Intersegment sales	2,021		44,095		239			(46,355		)	—
Total sales	$	465,654	$	171,092	$	57,219		$	(46,355	)	$	647,610
Operating income (a) (b)	$	56,032	$	4,954	$	(210	)	$	—		$	60,776
Depreciation and amortization expense	$	20,540	$	5,815	$	1,439		$	—		$	27,794

(a) The nine months ended September 30, 2013 includes a $7.2 million benefit to earnings related to updates to the provision for the CNA Fresh Water Claims in GTSP & Other.

(b) The nine month period ended September 30, 2013 includes a $2.3 million charge to earnings for out of period costs in the US.

Page 19 of 37

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

16. Acquisitions

In October 2013, Innophos purchased substantially all of the assets of privately held Chelated Minerals International, Inc. (CMI), based in Salt Lake City, Utah. CMI has significant knowhow in the manufacture and science of chelated minerals supplied to the human nutrition market. The acquisition of CMI strengthens Innophos’ position in micronutrient ingredients, which further enhances the Company’s ability to supply a broad range of nutrition fortification solutions to its customers. Innophos enjoys a strong position in macronutrient minerals such as calcium, magnesium and potassium that are required in relatively large amounts for a balanced diet. The human diet also requires smaller quantities of a wide range of other minerals such as chromium, selenium, zinc and iron classified as micronutrients. The acquisition had a purchase price of approximately $5 million, subject to specified adjustments, and was funded from cash on-hand.

The purchase accounting for the acquisition has been closed with no adjustments recognized in the nine month period

ended September 30, 2014.

The final purchase price allocation for CMI resulted in the following amounts being allocated to the assets acquired and liabilities assumed at the acquisition date based upon their respective fair values summarized below:

	CMI
Cash	$	97
Accounts receivable	299
Inventory, including fair value adjustment of $20	125
Property, plant and equipment	1,092
Goodwill	1,265
Intangible assets	2,348
Accounts payable	(69		)
Other current liabilities	(57		)
Total	$	5,100

Page 20 of 37

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

This discussion contains forward-looking statements about our markets, the demand for our products and services and our future results. We based these statements on assumptions that we consider reasonable. Actual results may differ materially from those suggested by our forward-looking statements for various reasons including those discussed in the “Risk Factors” and “Forward-Looking Statements” sections of this report.

Innophos is a leading international producer of performance-critical and nutritional specialty ingredients, with applications in food, beverage, dietary supplements, pharmaceutical, oral care and industrial end markets. Innophos combines more than a century of experience in specialty phosphate manufacturing with a growing capability in a broad range of other specialty ingredients to supply a product range produced to stringent regulatory manufacturing standards and the quality demanded by customers worldwide. Many of Innophos' products are application-specific compounds engineered to meet customer performance requirements and are often critical to the taste, texture and performance of foods, beverages, pharmaceuticals, oral care products and other applications. For example, Innophos products act as flavor enhancers in beverages, electrolytes in sports drinks, texture additives in cheeses, leavening agents in baked goods, pharmaceutical excipients, cleaning agents in toothpaste and provide a wide range of nutritional fortification solutions for food, beverage and nutritional supplement manufacturers.

Page 21 of 37

Recent Trends and Outlook

Specialty Phosphates volumes were down 3% in the third quarter 2014 compared to the prior year period primarily due to the previously mentioned reduced US/Canada Purified Phosphoric Acid (PPA) availability as well as lower demand and order patterns in certain US markets as noted earlier. These shortfalls overshadowed a record quarter for INNOVALT® sales for asphalt markets which were up 40% year-over-year for the third quarter, and up 17% year-to-date, following the extension of the Federal Transportation Fund. Export sales were essentially flat year-over-year, as a 22% improvement in Europe, Middle East and Africa and modest growth in Asia Pacific was nearly offset by declines in Latin America. As a result of the noted challenges in the US markets, tight PPA availability that was not resolved until late October, as well as our year-to-date performance, our expectation for Specialty Phosphates full year 2014 volumes is now a decline of 1-2% compared to full year 2013.

Specialty Phosphates operating income margins were 16% for the third quarter 2014, above the high end of the full year expected range, due to improved product mix and profitability levels in both US/Canada and Mexico. However, we expect our full year 2014 results to be at the low end of the targeted 14-15% operating income margin range for Specialty Phosphates. Fourth quarter margins are expected to be in the 11-12% range due to lower sequential and year-over-year sales volumes along with approximately $5 million of higher third quarter 2014 inventory costs, caused by increased raw material prices and lower production rates, that will reduce earnings in the fourth quarter 2014.

Fertilizer market prices remained fairly stable during the third quarter 2014 but decreased approximately 5% in early October and decreased another 5-10% in late October. Market phosphate rock prices were fairly stable sequentially in the third quarter 2014 and are expected to remain stable for the fourth quarter. Sulfur market prices increased approximately 25% in the third quarter 2014 but decreased 5% in the fourth quarter 2014.

GTSP & Other recorded $1 million operating income for the third quarter 2014 as expected. Given recent selling price movements and the fact that the fourth quarter is seasonally weak for fertilizers, we expect to record somewhere between break-even and a $1 million operating loss in this segment for the fourth quarter 2014.

Net debt (total long-term debt (including any current portion) less cash and cash equivalents) decreased sequentially by $17 million in the third quarter 2014 to $83 million due to lower working capital. Innophos spent $8 million to repurchase approximately 138,000 shares during the third quarter 2014 and another $7.4 million in October to repurchase approximately 135,000 shares.

Page 22 of 37

Historical Performance

Results of Operations

The following table sets forth a summary of the Company’s operations and their percentages of total revenue for the periods indicated. (dollars in millions):

	Three Months Ended			Three Months Ended
	September 30, 2014			September 30, 2013
	Amount		%	Amount		%
Net sales	$	208.8	100.0	$	220.0	100.0
Cost of goods sold	157.8		75.6	181.3		82.4
Gross profit	51.0		24.4	38.7		17.6
Operating expenses:
Selling, general and administrative	19.5		9.3	17.2		7.8
Research & development	1.1		0.5	0.8		0.4
Income from operations	30.4		14.6	20.7		9.4
Interest expense, net	1.1		0.5	1.7		0.8
Foreign exchange losses (gains), net	1.8		0.9	0.7		0.3
Provision for income taxes	9.2		4.4	7.4		3.4
Net income	$	18.3	8.8	$	10.9	5.0
	Nine Months Ended			Nine Months Ended
	September 30, 2014			September 30, 2013
	Amount		%	Amount		%
Net sales	$	644.7	100.0	$	647.6	100.0
Cost of goods sold	499.2		77.4	531.0		82.0
Gross profit	145.5		22.6	116.6		18.0
Operating expenses:
Selling, general and administrative	58.0		9.0	53.4		8.2
Research & development	3.4		0.5	2.4		0.4
Income from operations	84.1		13.0	60.8		9.4
Interest expense, net	2.9		0.4	4.5		0.7
Foreign exchange losses (gains), net	1.8		0.3	3.1		0.5
Provision for income taxes	26.3		4.1	18.3		2.8
Net income	$	53.1	8.2	$	34.9	5.4

Three months ended September 30, 2014 compared to the three months ended September 30, 2013

Net Sales

Net sales represent the selling price of the products, net of any customer-related rebates, plus freight and any other items invoiced to customers. Net sales for the three months ended September 30, 2014 were $208.8 million, a decrease of $11.2 million, or 5.1%, as compared to $220.0 million for the same period in 2013. Specialty Phosphates sales were down 4.0% or $8.0 million with selling prices down 0.9% or $1.8 million and volume down 3.1% or $6.2 million. Prices were down primarily for our Mexico segment due to increased competition in the Latin American export markets. The volume decrease was primarily due to a 13.5% year-over-year decline in US & Canada Food & Technical Grade PPA volumes caused by a lack of product availability from the Company’s phosphoric acid supplier who experienced a longer than planned maintenance outage at its Geismar Merchant Grade Acid (MGA) facility and was unable to keep to a normal PPA shipment pace out of its other facility. GTSP & Other sales were down 14.6% or $3.2 million with volumes lower by 10.4% or $2.3 million and prices lower by 4.2% or $0.9 million.

The Company calculates pure selling price dollar variances as the selling price for the current year to date period minus the selling price for the prior year to date period, and then multiplies the resulting selling price difference by the prior year to

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date period volume. Volume variance is calculated as the total sales variance minus the selling price variance and refers to the revenue effect of changes in tons sold at the relative prices applicable to the variation in tons, otherwise known as volume/mix.

The following table illustrates for the three months ended September 30, 2014 the percentage changes in net sales by reportable segment compared with the same period of the prior year, including the effect of price and volume/mix changes upon revenue:

	Price		Volume/Mix		Total
Specialty Phosphates US & Canada	(0.2	)%	(3.9	)%	(4.1	)%
Specialty Phosphates Mexico	(3.3	)%	(0.4	)%	(3.7	)%
Total Specialty Phosphates	(0.9	)%	(3.1	)%	(4.0	)%
GTSP & Other	(4.2	)%	(10.4	)%	(14.6	)%
Total	(1.2	)%	(3.9	)%	(5.1	)%

The following table illustrates for the three months ended September 30, 2014 the percentage changes for net sales by Specialty Phosphates product lines compared with the prior year, including the effect of price and volume/mix changes:

	Price		Volume/Mix		Total
Specialty Ingredients	(0.5	)%	(2.6	)%	(3.1	)%
Food & Technical Grade PPA	(3.1	)%	(4.8	)%	(7.9	)%
STPP & Detergent Grade PPA	0.2	%	(3.7	)%	(3.5	)%

Gross Profit

Gross profit represents net sales less cost of goods sold. Gross profit for the three months ended September 30, 2014 was $51.0 million, an increase of $12.3 million, or 31.8%, as compared to $38.7 million for the same period in 2013. Gross profit percentage increased to 24.4% for the three months ended September 30, 2014 versus 17.6% for the same period in 2013. Gross profit in 2014 was favorably affected by $12.0 million of lower raw material costs, mainly phosphate rock and sulfur, a net $3.6 million decrease in planned maintenance outage expense mainly at our Coatzacoalcos, Mexico manufacturing facility, $0.5 million favorable sales volume effects, and $0.4 million favorable exchange rate from our Mexican peso and Canadian dollar based costs. These favorable effects were partially offset by $2.9 million higher manufacturing costs, $2.7 million lower selling prices, and $0.2 million higher depreciation. Included in 2013 was expense of $1.6 million for a lower of cost or market reserve recorded in GTSP.

Operating Expenses and Research and Development

Operating expenses consist primarily of selling, general and administrative and research and development expenses. Operating expenses for the three months ended September 30, 2014 were $20.6 million, an increase of $2.6 million, or 14.4%, as compared to $18.0 million for the same period in 2013. The increase is primarily due to $1.3 million higher employee related expenses and $1.1 million higher professional services fees.

Operating Income

Operating income for the three months ended September 30, 2014 was $30.4 million, an increase of $9.7 million, or 46.9%, as compared to $20.7 million for the same period in 2013. Operating income as a percentage of net sales increased to 14.6% versus 9.4% for the same period in 2013, for the reasons noted above.

Interest Expense, net

Net interest expense, including deferred financing amortization expense, for the three months ended September 30, 2014 was $1.1 million, a decrease of $0.6 million or 35.3% as compared to $1.7 million for the same period in 2013. The decrease was mainly due to a favorable change in interest expense for income tax audits in the US and lower average debt levels.

Foreign Exchange

Foreign exchange for the three months ended September 30, 2014 was a loss of $1.8 million as compared to a loss of $0.7 million for the same period in 2013. The U.S. Dollar is the functional currency of our Mexican and Canadian operations. Consequently, foreign exchange gain or loss is recorded on remeasurement of non-U.S. dollar denominated monetary assets

Page 24 of 37

and liabilities. Such gains and losses fluctuate from period to period as the foreign currencies strengthen or weaken against the U.S. dollar and the amount of non-U.S. dollar denominated assets and liabilities increases or decreases.

Provision for Income Taxes

The effective income tax rate was 33% for the three months ended September 30, 2014 compared to 40% for the same period in 2013. The variance in the effective tax rate is due to the recording of uncertain income tax positions in the prior year which increased the tax rate by 7% in the prior year.

Net Income

Net income for the three months ended September 30, 2014 was $18.3 million, an increase of $7.4 million as compared to $10.9 million for the same period in 2013, due to the factors described above.

Nine months ended September 30, 2014 compared to the nine months ended September 30, 2013

Net Sales

Net sales represent the selling price of the products, net of any customer-related rebates, plus freight and any other items invoiced to customers. Net sales for the nine months ended September 30, 2014 were $644.7 million, a decrease of $2.9 million, or 0.4%, as compared to $647.6 million for the same period in 2013. Specialty Phosphates sales were down 1.1% or $6.7 million with prices lower by 0.9% or $5.6 million and volumes lower by 0.2% or $1.1 million. The price decrease was seen primarily in Food & Technical Grade PPA and to a lesser extent Specialty Ingredients. The US/Canada price declines were primarily in Food & Technical Grade PPA and have been consistent throughout the year while the Mexico price declines were primarily in the third quarter 2014 and due to increased competition in the Latin American export markets. Volumes were relatively flat for the current period compared to the same period last year with increases in Specialty Ingredients, despite a year over year decline for the Nutrition businesses, offsetting declines in STPP & Detergent Grade PPA, leaving a small decline in Food & Technical Grade PPA. GTSP & Other sales were up 6.6% or $3.8 million with volumes higher by 18.8% or $10.8 million but prices lower 12.2% or $7.0 million.

The Company calculates pure selling price dollar variances as the selling price for the current year to date period minus the selling price for the prior year to date period, and then multiplies the resulting selling price difference by the prior year to date period volume. Volume variance is calculated as the total sales variance minus the selling price variance and refers to the revenue effect of changes in tons sold at the relative prices applicable to the variation in tons, otherwise known as volume/mix. The following table illustrates for the nine months ended September 30, 2014 the percentage changes in net sales by reportable segment compared with the same period of the prior year, including the effect of price and volume/mix changes upon revenue:

	Price		Volume/Mix		Total
Specialty Phosphates US & Canada	(0.8	)%	(1.0	)%	(1.8	)%
Specialty Phosphates Mexico	(1.6	)%	2.7	%	1.1	%
Total Specialty Phosphates	(0.9	)%	(0.2	)%	(1.1	)%
GTSP & Other	(12.2	)%	18.8	%	6.6	%
Total	(1.9	)%	1.5	%	(0.4	)%

The following table illustrates for the nine months ended September 30, 2014 the percentage changes for net sales by Specialty Phosphates product lines compared with the prior year, including the effect of price and volume/mix changes:

	Price		Volume/Mix		Total
Specialty Ingredients	(0.5	)%	0.6	%	0.1	%
Food & Technical Grade PPA	(3.0	)%	(1.0	)%	(4.0	)%
STPP & Detergent Grade PPA	(0.4	)%	(4.0	)%	(4.4	)%

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Gross Profit

Gross profit represents net sales less cost of goods sold. Gross profit for the nine months ended September 30, 2014 was $145.5 million, an increase of $28.9 million, or 24.8%, as compared to $116.6 million for the same period in 2013. Gross profit percentage increased to 22.6% for the nine months ended September 30, 2014 versus 18.0% for the same period in 2013.

Gross profit in 2014 was favorably affected by $29.5 million lower raw material costs, primarily phosphate rock, a net $3.3 million decrease in planned maintenance outage expense mainly at our Coatzacoalcos, Mexico manufacturing facility, $2.3 million favorable sales volume effects, $1.4 million favorable exchange rate from Mexican peso and Canadian dollar based costs, and $1.3 million lower depreciation. These favorable effects were partially offset by $12.5 million lower selling prices, $5.3 million higher manufacturing costs, and $0.9 million for the accrual of Geismar, La. contingent liabilities. Included in 2013 were $15.4 million in elevated cost of goods sold, of which $7.9 million related to Mexico manufacturing issues, $2.4 million related to demurrage on raw material purchases and other inventory related costs, $2.3 million related to an out of period adjustment on a long term supply agreement, $2.1 million related to a revision of estimates for phosphate rock inventories in Mexico and $0.7 million related to acquisition accounting expenses. Also included in 2013 was a benefit of $7.2 million for settlement of historical water duty claims by the Mexican authorities and expense of $1.6 million for a lower of cost or market reserve recorded in GTSP.

Operating Expenses and Research and Development

Operating expenses consist primarily of selling, general and administrative and research and development expenses. Operating expenses for the nine months ended September 30, 2014 were $61.4 million, an increase of $5.6 million, or 10.0%, as compared to $55.8 million for the same period in 2013. The increase is due to $3.3 million higher employee related expenses for short-term incentive and stock compensation, $0.9 million higher professional services fees, $0.5 million increase in commercial activities and $0.9 million increase in all other costs.

Operating Income

Operating income for the nine months ended September 30, 2014 was $84.1 million, an increase of $23.3 million, or 38.3%, as compared to $60.8 million for the same period in 2013. Operating income as a percentage of net sales increased to 13.0% versus 9.4% for the same period in 2013, for the reasons noted above.

Interest Expense, net

Net interest expense, including deferred financing amortization expense, for the nine months ended September 30, 2014 was $2.9 million, a decrease of $1.6 million, or 35.6% as compared to $4.5 million for the same period in 2013. The decrease was mainly due to a favorable change in interest expense for income tax audits in the US and lower average debt levels.

Foreign Exchange

Foreign exchange for the nine months ended September 30, 2014 was a loss of $1.8 million as compared to a loss of $3.1 million for the same period in 2013. The U.S. Dollar is the functional currency of our Mexican and Canadian operations. Consequently, foreign exchange gain or loss is recorded on remeasurement of non-U.S. dollar denominated monetary assets and liabilities. Such gains and losses fluctuate from period to period as the foreign currencies strengthen or weaken against the U.S. dollar and the amount of non-U.S. dollar denominated assets and liabilities increases or decreases.

Provision for Income Taxes

The effective income tax rate was 33% for the nine months ended September 30, 2014 compared to 34% for the same period in 2013. The variance in the effective tax rate is primarily due to increased taxable income in lower tax rate jurisdictions, the Mexican CNA Water Tax Claims and other international benefits being recorded as discrete items for income tax provision purposes in the prior year which decreased the prior year effective tax rate by 3%, uncertain income tax position benefits which decreased the effective tax rate by 3% from the prior year and state research and development credits which decreased the current year effective tax rate by 1%.

Net Income

Net income for the nine months ended September 30, 2014 was $53.1 million, an increase of $18.2 million as compared to $34.9 million for the same period in 2013, due to the factors described above.

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Segment Reporting

The Company reports its core Specialty Phosphates business separately from GTSP & Other. Specialty Phosphates consists of the products lines Specialty Ingredients, Food & Technical Grade PPA and STPP & Detergent Grade PPA. Kelatron, AMT, CMI and Triarco are included in the Specialty Phosphates US & Canada segment and in the Specialty Ingredients product line. GTSP & Other includes fertilizer co-product GTSP and other non-Specialty Phosphate products. The primary performance indicators for the chief operating decision maker are sales and operating income. The following table sets forth the historical results of these indicators by segment:

	Three Months Ended
	September 30, 2014			September 30, 2013			Net Sales % Change
Segment Net Sales
Specialty Phosphates US & Canada	$	147,220		$	153,588		(4.1	)%
Specialty Phosphates Mexico	43,075			44,712			(3.7	)%
Total Specialty Phosphates	190,295			198,300			(4.0	)%
GTSP & Other	18,520			21,693			(14.6	)%
Total	$	208,815		$	219,993		(5.1	)%
Segment Operating Income
Specialty Phosphates US & Canada	$	23,603		$	21,482
Specialty Phosphates Mexico	5,904			2,964
Total Specialty Phosphates	29,507			24,446
GTSP & Other	869			(3,725		)
Total	$	30,376		$	20,721
Segment Operating Income % of net sales
Specialty Phosphates US & Canada	16.0		%	14.0		%
Specialty Phosphates Mexico	13.7		%	6.6		%
Total Specialty Phosphates	15.5		%	12.3		%
GTSP & Other	4.7		%	(17.2		)%
Total	14.5		%	9.4		%
Depreciation and amortization expense
Specialty Phosphates US & Canada	$	6,483		$	6,967
Specialty Phosphates Mexico	2,156			1,740
Total Specialty Phosphates	$	8,639		$	8,707
GTSP & Other	605			236
Total	$	9,244		$	8,943

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	Nine Months Ended
	September 30, 2014			September 30, 2013			Net Sales % Change
Segment Net Sales
Specialty Phosphates US & Canada	$	455,497		$	463,633		(1.8	)%
Specialty Phosphates Mexico	128,449			126,997			1.1	%
Total Specialty Phosphates	583,946			590,630			(1.1	)%
GTSP & Other	60,752			56,980			6.6	%
Total	$	644,698		$	647,610		(0.4	)%
Segment Operating Income
Specialty Phosphates US & Canada	$	65,150		$	56,032
Specialty Phosphates Mexico	22,085			4,954
Total Specialty Phosphates	87,235			60,986
GTSP & Other (a) (b)	(3,106		)	(210		)
Total	$	84,129		$	60,776
Segment Operating Income % of net sales
Specialty Phosphates US & Canada	14.3		%	12.1		%
Specialty Phosphates Mexico	17.2		%	3.9		%
Total Specialty Phosphates	14.9		%	10.3		%
GTSP & Other (a) (b)	(5.1		)%	(0.4		)%
Total	13.0		%	9.4		%
Depreciation and amortization expense
Specialty Phosphates US & Canada	$	18,092		$	20,540
Specialty Phosphates Mexico	7,202			5,815
Total Specialty Phosphates	$	25,294		$	26,355
GTSP & Other	1,349			1,439
Total	$	26,643		$	27,794

(a) The nine months ended September 30, 2013 includes a $7.2 million benefit to earnings related to updates to the provision for the CNA Fresh Water Claims in GTSP & Other.

(b) The nine month period ended September 30, 2013 includes a $2.3 million charge to earnings for out of period costs in the US.

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Three months ended September 30, 2014 compared to the three months ended September 30, 2013

Segment Net Sales:

Specialty Phosphates US & Canada net sales decreased 4.1% for the three months ended September 30, 2014 when compared with the same period in 2013. Average selling prices decreased by 0.2% while volumes decreased 3.9% primarily due to a 13.5% decline in Food & Technical Grade PPA caused by a lack of product availability from the Company’s phosphoric acid supplier who experienced a longer than planned maintenance outage at its Geismar Merchant Grade Acid (MGA) facility and was unable to keep to a normal PPA shipment pace out of its other facility. Specialty Ingredients volumes were also down 2.1% due to order patterns on ammonium phosphates for the fire-fighting market, continued softness in the nutrition business and lower resale products for the baking market which, when combined, more than offset record volumes for the INNOVALT® asphalt business and strong demand for Cal-Rise®.

Specialty Phosphates Mexico net sales decreased 3.7% for the three months ended September 30, 2014 when compared with the same period in 2013. Selling prices decreased 3.3% due to increased competition in the Latin American export markets and volumes decreased 0.4%.

GTSP & Other net sales decreased 14.6% for the three months ended September 30, 2014 when compared with the same period in 2013. Volumes decreased 10.4% and selling prices decreased 4.2%. Fertilizer market prices were fairly stable throughout the the 2014 period, unlike the 2013 period where market prices dropped 15-20% during the quarter which required the posting of a lower of cost or market reserve in that period.

Segment Operating Income Percentage of Net Sales:

The 200 basis point increase in Specialty Phosphates US & Canada operating income margins for the three months ended September 30, 2014 compared with the same period in 2013 is due to decreased raw material costs, primarily phosphate rock, which increased margins 560 basis points and lower depreciation which increased margins by 30 basis points. This was partially offset by higher manufacturing and operating costs, including currency exchange, which decreased margins by 330 basis points, increased planned maintenance outage expenses which decreased margins by 30 basis points, lower average selling prices which decreased margins by 20 basis points and lower sales volume/mix which decreased margins by 10 basis points.

The 710 basis point increase in Specialty Phosphates Mexico operating income margins for the three months ended September 30, 2014 compared with the same period in 2013 is due to lower planned maintenance outage expenses which increased margins by 690 basis points, lower manufacturing cost which increased margins by 160 basis points, lower raw material costs which increased margins by 140 basis points, increased sales volume/mix which increased margins by 120 basis points and favorable exchange which increased margins by 60 basis points. This was partially offset by lower average selling prices which decreased margins by 310 basis points, higher depreciation which decreased margins by 90 basis points and higher operating cost which decreased margins by 60 basis points.

The 2,190 basis point increase in GTSP & Other operating income margins for the three months ended September 30, 2014 compared with the same period in 2013 is due to lower raw material cost which increased margins by 1,320 basis points, higher sales volume/mix which increased margins by 650 basis points, lower planned maintenance outage expenses which increased margins by 470 basis points and favorable exchange which increased margins by 30 basis points. This was partially offset by lower selling prices which decreased margins 510 basis points, higher manufacturing and operating costs which decreased margins by 340 basis points and higher depreciation which decreased margins by 170 basis points. Included in 2013 was expense for a lower of cost or market reserve which had a favorable impact on 2014 margins when compared to 2013 of 740 basis points.

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Nine months ended September 30, 2014 compared to the nine months ended September 30, 2013

Segment Net Sales:

Specialty Phosphates US & Canada net sales decreased 1.8% for the nine months ended September 30, 2014 when compared with the same period in 2013. Average selling prices decreased by 0.8%, primarily in Food & Technical Grade PPA which have been consistent throughout the year. Volumes decreased 1.0%, with 6.8% decreases in both Food & Technical Grade PPA and STPP & Detergent Grade PPA partially offset by increases in Specialty Ingredients.

Specialty Phosphates Mexico net sales increased 1.1% for the nine months ended September 30, 2014 when compared with the same period in 2013. Volumes increased 2.7%, primarily in Food & Technical Grade PPA as a result of improved operations, while selling prices decreased 1.6% due to increased competition in the Latin American export markets.

GTSP & Other net sales increased 6.6% for the nine months ended September 30, 2014 when compared with the same period in 2013. Volumes increased 18.8% while selling prices decreased 12.2% due to higher fertilizer market prices in the first half of 2013.

Segment Operating Income Percentage of Net Sales:

The 220 basis point increase in Specialty Phosphates US & Canada operating income margins for the nine months ended September 30, 2014 compared with the same period in 2013 is due to decreased raw material costs which increased margins 400 basis points and lower depreciation which increased margins by 50 basis points. This was partially offset by higher manufacturing and operating cost, including currency exchange, which decreased margins by 230 basis points, lower average selling prices which decreased margins by 70 basis points, lower sales volume/mix which reduced margins by 30 basis points and higher planned maintenance outage expenses which decreased margins by 20 basis points. Included in 2013 were elevated cost of goods sold for previously noted items which had a favorable effect on 2014 margins of 120 basis points when compared to the prior year period.

The 1,330 basis point increase in Specialty Phosphates Mexico operating income margins for the nine months ended September 30, 2014 compared with the same period in 2013 is due to lower raw material costs which increased margins by 430 basis points, lower planned maintenance outage expenses which increased margins by 240 basis points, lower manufacturing cost, including a favorable exchange effect, which increased margins by 250 basis points and increased sales volume/mix which increased margins by 100 basis points. This was partially offset by lower average selling prices which decreased margins by 160 basis points and higher depreciation which decreased margins by 110 basis points. Included in 2013 were elevated cost of goods sold due to manufacturing inefficiencies and maintenance expenses stemming from premature equipment failures and a revision of estimates for phosphate rock inventories which had a total favorable impact on 2014 margins of 580 basis points when compared to the prior year period.

The 470 basis point decrease in GTSP & Other operating income margins for the nine months ended September 30, 2014 compared with the same period in 2013 is due to lower raw material cost which increased margins by 990 basis points, higher sales volume/mix which increased margins by 690 basis points, lower planned maintenance outage expenses which increased margins by 180 basis points, a favorable exchange rate effect which increased margins by 50 basis points and lower depreciation which increased margins by 20 basis points. This was partially offset by lower selling prices which decreased margins 1,400 basis points, higher manufacturing and operating costs which lowered margins 320 basis points and the accrual of Geismar, La. contingent liabilities which lowered margins by 160 basis points. Included in 2013 were elevated cost of goods sold due to manufacturing inefficiencies and maintenance expenses stemming from premature equipment failures and a revision of estimates for phosphate rock inventories which had a total favorable impact on 2014 margins when compared to 2013 of 470 basis points and expense for a lower cost or market reserve which had a favorable impact on 2014 margins when compared to 2013 of 280 basis points. Also included in 2013 was a benefit of $7.2 million due to progress made in reducing the amount required to be paid to settle historical water duty claims by the Mexican authorities which had an unfavorable impact on 2014 margins when compared to 2013 of 1,270 basis points.

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Liquidity and Capital Resources

The following table sets forth a summary of the Company’s cash flows for the periods indicated.

(Dollars in millions)	Nine months ended
	September 30, 2014			September 30, 2013
Operating Activities	$	110.1		$	74.0
Investing Activities	(21.3		)	(30.3		)
Financing Activities	(76.4		)	(34.7		)

Nine months ended September 30, 2014 compared to nine months ended September 30, 2013

Net cash provided by operating activities was $110.1 million for the nine months ended September 30, 2014 as compared to $74.0 million for 2013, an increase of $36.1 million. The increase in operating activities cash resulted primarily from favorable changes of $18.2 million in net income as described earlier and $18.1 million from reduced working capital.

The favorable change in working capital is derived from it being a source of cash of $26.0 million in 2014 compared to a source in 2013 of $7.9 million, an increase in cash of $18.1 million. Favorable changes in other current liabilities of $23.4 million, of which $6.3 million related to a 2013 reduction in the CNA water claim payable, and $12.7 million in inventory, due to lower purified phosphoric acid inventories, were partially offset by unfavorable changes of $14.5 million in other current assets, mainly due to accelerate refunds of value added tax last year by our Mexican subsidiaries, $3.2 million in accounts payable, and $0.3 million in accounts receivable. Accounts receivable as a percent of quarterly sales, when adjusted for GTSP open accounts receivable of $2.2 million, $11.0 million, $0.2 million, $1.3 million, and $1.0 million as of September 30, 2014, June 30, 2014, March 31, 2014, December 31, 2013, and September 30, 2013 respectively, was consistent with the last four quarters' average.

Net cash used for investing activities was $21.3 million for the nine months ended September 30, 2014, compared to $30.3 million for 2013, a decrease in spending of $9.0 million. The change is mainly due to $12.2 million lower capital spending at our Coatzacoalcos, Mexico manufacturing facility as we were making substantial investments in 2013 to improve the capability and reliability of that operation after suffering from premature equipment failures during the first half of 2013. This was partially offset by $2.8 million increased spending at our Nashville, TN facility.

Approximately three-quarters of the year-to-date September 2014 capital spending was for maintenance and the remaining 25% was for strategic growth initiatives. The majority of the strategic growth investments were focused on capacity expansions at Nashville as well as on improving capabilities, yields and capacity at Coatzacoalcos. Our expectation for 2014 capital expenditures is now in the $30-35 million range with the maintenance portion of these capital expenditures expected to be within the typical $20-$25 million range.

Innophos currently estimates that full exploration costs to a proven reserves standard for its Baja California mining concessions could require expenditures of $10 to $15 million over the next three to four years. This estimate includes mineral rights payments, taxes, mineral resource measurement, beneficiation process design and completion of feasibility studies. Full expenditures would only occur if interim milestone goals are successfully attained. Combined 2010 through 2013 expenditures on the exploration of the Baja California Sur concession deposits were approximately $3.8 million. Spending in 2014 will likely remain at the previous annual trend rate. Innophos intends to seek one or more partners for these efforts, but anticipates no difficulties in completing the exploration phase without a partnership.

Net cash from financing activities for the nine months ended September 30, 2014, was a use of $76.4 million, compared to a use of $34.7 million in 2013, an increase in the use of cash of $41.7 million. This was largely due to $28.0 million decreased loan borrowings, $14.3 million increased stock repurchases, $5.0 million higher dividend payments, $1.1 million lower excess tax benefits from the exercise of stock options and $0.3 million lower stock option exercises, partially offset by $7.0 million decreased loan repayments.

Innophos and its subsidiaries and affiliates may from time to time seek to acquire or otherwise retire outstanding debt through privately negotiated transactions, exchanges or otherwise. Debt repurchases or exchanges, if any, will depend on prevailing market conditions, Company liquidity requirements, restrictive financial covenants and other factors applicable at the time. The amounts involved may be material.

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On September 30, 2014, the Company had cash and cash equivalents outside the United States of $41.2 million, or 91% of the Company's balance. Further, the foreign cash amounts are not restricted by law to be used in other countries. Our current operating plan does not include repatriation of any of the cash and cash equivalents held outside the United States to fund the United States operations. However, in the event we do repatriate cash and cash equivalents held outside of the United States, we may be required to accrue and pay United States income taxes to repatriate these funds.

The Company's available financial resources allow for the continuation of dividend payments, pursuit of several “bolt-on” acquisition projects and further geographic expansion initiatives. We further believe that on-hand cash combined with cash generated from operations, including our Mexican operations, and availability under our revolving line of credit, will be sufficient to meet our obligations such as debt service, tax payments, capital expenditures and working capital requirements for at least the next twelve months. We expect to fund all of these obligations through our existing cash and our future operating cash flows. However, future operating performance for the Company is subject to prevailing economic and competitive conditions and various other factors that are uncertain. If the cash flows and other capital resources available to the Company, such as its revolving loan facility, are insufficient to fund our debt and other liquidity needs, the Company may have to take alternative actions that differ from current operating plans.

Under the share repurchase program approved by the Board of Directors in 2011, from time to time at management’s discretion, we will repurchase our common stock either through open market transactions, block purchases, private transactions or other means and will fund these transactions through existing liquidity and cash from operations. During the second quarter, the Company repurchased 112,002 shares of its common stock on the open market at an average price of $55.16 per share or $6.2 million. During the third quarter, the Company repurchased 137,781 shares of its common stock on the open market at an average price of 58.09 per share or $8.0 million. Also, in the early part of the fourth quarter, the Company repurchased approximately another 135,000 shares at an average price of $55.00 or $7.4 million.

The Company's Board of Directors declared an increase to its quarterly dividend to $0.48 per share starting in the third quarter of 2014.

Critical Accounting Estimates and Policies

There have been no material changes from the critical accounting estimates previously disclosed in our 2013 Annual Report on Form 10-K.

Page 32 of 37

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We are exposed to certain market risks as part of our ongoing business operations. Primary exposures include changes in interest rates, as borrowings under our Loan Agreement will bear interest at floating rates based on LIBOR plus an applicable borrowing margin. We manage our interest rate risk by balancing the amount of fixed-rate and floating-rate debt to the extent practicable consistent with our credit status. For fixed-rate debt, interest rate changes do not affect earnings or cash flows. Conversely, for floating-rate debt, interest rate changes generally affect our earnings and cash flows, assuming other factors are held constant.

At September 30, 2014, we had $93 million principal amount of variable-rate debt remaining on a term loan and a $225.0 million revolving credit facility, of which $35.0 million was outstanding, both of which approximate fair value (determined using level 2 inputs within the fair value hierarchy). Total remaining availability was $187.7 million, taking into account $2.3 million in face amount of letters of credit issued under the sub-facility. Simultaneously with initiating the new senior facility, Innophos entered into an interest rate swap, swapping the LIBOR exposure on $100.0 million of floating rate debt with a fixed rate of 0.9475% plus the applicable margin on the debt expiring in December 2017. This interest rate swap has been designated as a cash flow hedge with the changes in value recorded through other comprehensive income. The fair value of this interest rate swap is an asset of approximately $1 million (determined using level 2 inputs within the fair value hierarchy) as of September 30, 2014.

Changes in economic conditions could result in higher interest rates, thereby increasing our interest expense on our revolving line of credit. Changes in economic conditions may also result in lower operating income, reducing our funds available for capital investment, operations or other purposes. In addition, a substantial portion of our cash flow has been used to service debt and fund working capital needs, which may affect our ability to make future acquisitions or capital expenditures. We may from time to time use interest rate protection agreements to minimize our exposure to interest rate fluctuation. Regardless of hedges, we may experience economic loss and a negative impact on earnings or net assets as a result of interest rate fluctuations. Based on $28.0 million outstanding borrowings as floating rate debt (amount not covered by the swap), an immediate increase of one percentage point would cause an increase to interest expense of approximately $0.3 million per year.

We currently do not have any, but from time to time, we may enter into longer term natural gas supply contracts in an effort to eliminate some of the volatility in our energy costs. Our natural gas spending for 2014 is estimated to be less than 3% of cost of goods sold.

We do not currently hedge our currency rate risks.

We believe that our concentration of credit risk related to trade accounts receivable is limited since these receivables are spread among a number of customers and are geographically dispersed. No customer accounted for more than 10% of our sales in the last 3 years.

Foreign Currency Exchange Rates

The U.S. Dollar is the functional currency of the Canadian and Mexican operations. Accordingly, these operations’ monetary assets and liabilities are translated at current exchange rates, non-monetary assets and liabilities are translated at historical exchange rates, and revenue and expenses are translated at average exchange rates and at historical exchange rates for the related revenue and expenses of non-monetary assets and liabilities. All transaction gains and losses are included in net income.

Our principal source of exchange rate exposure in our foreign operations consists of expenses, such as labor expenses, which are denominated in the foreign currency of the country in which we operate. A decline in the value of the U.S. Dollar relative to the local currency would generally cause our operational expenses (particularly labor costs) to increase (conversely, a decline in the value of the foreign currency relative to the U.S. Dollar would cause these expenses to decrease). We believe that normal exchange rate fluctuations consistent with recent historical trends would have a modest impact on our expenses, and would not materially affect our financial condition or results of operations. Nearly all of our sales are denominated in U.S. Dollars and our exchange rate exposure in terms of sales revenues is minimal.

Inflation and changing prices

Our costs and expenses will be subject to inflation and price fluctuations. Significant price fluctuations in raw materials, freight, and energy costs, if not compensated for by cost savings from production efficiencies or price increases passed on to customers could have a material effect on our financial condition and results of operations.

Page 33 of 37

Off-Balance Sheet Arrangements

We do not have any relationships with unconsolidated entities or financial partnerships, such as entities often referred to as “structured finance or special purpose entities”, which would have been established for the purpose of facilitating off-balance sheet arrangements or other contractually narrow or limited purposes.

ITEM 4. CONTROLS AND PROCEDURES

Disclosure Control and Procedures

The Company maintains disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934) that are designed to provide reasonable assurance that information required to be reported in the Company's consolidated financial statements and filings is recorded, processed, summarized and reported within the periods specified in the rules and forms of the Securities and Exchange Commission, or SEC, and that such information is accumulated and communicated to the Company's management, including its Principal Executive Officer and Principal Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. Any controls and procedures, no matter how well designed and operated, can provide only reasonable, not absolute, assurance of achieving the desired control objectives.

As of September 30, 2014 the Company completed an evaluation under the supervision and with the participation of the Company's management, including the Company's Principal Executive Officer and Principal Financial Officer, of the effectiveness of the design and operation of the Company's disclosure controls and procedures. Based upon that evaluation, the Principal Executive Officer and Principal Financial Officer concluded that the Company's disclosure controls and procedures are effective at the reasonable assurance level.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Changes in Internal Control over Financial Reporting

There have been no changes in our internal control over financial reporting during or with respect to the third quarter of 2014 that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.

Page 34 of 37

PART II

ITEM 1. LEGAL PROCEEDINGS

Note 12 of Notes to Consolidated Condensed Financial Statements in “Item 1. Financial Statements" contained in this Quarterly Report on Form 10-Q is incorporated herein by reference.

ITEM 1A. RISK FACTORS

There have been no material changes from the risk factors previously disclosed in our 2013 Annual Report on Form 10-K.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

None.

ITEM 5. OTHER INFORMATION

None.

ITEM 6. EXHIBITS

a) Exhibits. The following exhibits are filed or furnished as part of this report:

Exhibit No.	Description
31.1	Certification of Principal Executive Officer dated October 29, 2014 pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of Principal Financial Officer dated October 29, 2014 pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1*	Certification of Principal Executive Officer dated October 29, 2014 pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2*	Certification of Principal Financial Officer dated October 29, 2014 pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

* Not to be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liability of that section, nor deemed to be incorporated by reference into any filing under that Act or the Securities Act of 1933.

Page 35 of 37

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

INNOPHOS HOLDINGS, INC.
	/s/ Randolph Gress
By:	Randolph Gress
Its:	Chief Executive Officer and Director
	(Principal Executive Officer)
Dated:	October 29, 2014
INNOPHOS HOLDINGS, INC.
	/s/ Robert Harrer
By:	Robert Harrer
Its:	Vice President and Chief Financial Officer
	(Principal Financial Officer)
Dated:	October 29, 2014

Page 36 of 37

EXHIBIT INDEX

Exhibit No.	Description
31.1	Certification of Principal Executive Officer dated October 29, 2014 pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of Principal Financial Officer dated October 29, 2014 pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of Principal Executive Officer dated October 29, 2014 pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2	Certification of Principal Financial Officer dated October 29, 2014 pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

Page 37 of 37

EX-31.1

Exhibit 31.1

CERTIFICATIONS

I, Randolph Gress, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Innophos Holdings, Inc. (“the registrant”);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated: October 29, 2014	By:	/S/    RANDOLPH GRESS
		Randolph Gress
		Chief Executive Officer and Director (Principal Executive Officer)

EX-31.2

Exhibit 31.2

I, Robert Harrer, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Innophos Holdings, Inc. (“the registrant”);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated: October 29, 2014	By:	/S/    Robert Harrer
		Robert Harrer
		Vice President and Chief Financial Officer (Principal Financial Officer)

EX-32.1

Exhibit 32.1

Certification Pursuant to § 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. § 1350)

I, Randolph Gress, certify that:

1. the accompanying Quarterly Report on Form 10-Q for the period ended September 30, 2014 (the “Report”), fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934, as amended; and

2. the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Innophos Holdings, Inc. at the dates and for the periods indicated.

A signed original of this written statement required by Section 906 has been provided Innophos Holdings, Inc. and will be retained by Innophos Holdings, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

The undersigned expressly disclaims any obligation to update the foregoing certification except as required by law.

Date: October 29, 2014

/S/    RANDOLPH GRESS        

Randolph Gress

Chief Executive Officer and Director

(Principal Executive Officer)

The foregoing certification is being furnished solely pursuant to the requirements of 18 U.S.C. § 1350 and is not being filed as a part of the Report or as a separate disclosure document.

EX-32.2

Exhibit 32.2

Certification Pursuant to § 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. § 1350)

I, Robert Harrer, certify that:

1. the accompanying Quarterly Report on Form 10-Q for the period ended September 30, 2014 (the “Report”), fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934, as amended; and

2. the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Innophos Holdings, Inc. at the dates and for the periods indicated.

A signed original of this written statement required by Section 906 has been provided Innophos Holdings, Inc. and will be retained by Innophos Holdings, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

The undersigned expressly disclaims any obligation to update the foregoing certification except as required by law.

Date: October 29, 2014

/S/    Robert Harrer

Robert Harrer

Vice President and Chief Financial Officer

(Principal Financial Officer)

The foregoing certification is being furnished solely pursuant to the requirements of 18 U.S.C. § 1350 and is not being filed as a part of the Report or as a separate disclosure document.

XML

Earnings Per Share (EPS) (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Earnings Per Share Reconciliation [Abstract]
Net income	$ 18,320	$ 10,940	$ 53,133	$ 34,910	$ 49,506
Less: earnings attributable to unvested shares	(39)	(16)	(112)	(54)
Net income available to participating common shareholders	$ 18,281	$ 10,924	$ 53,021	$ 34,856
Basic number of common shares, outstanding	21,741,050	21,947,948	21,826,771	21,932,814
Dilutive effect of stock equivalents	387,093	375,757	378,143	390,173
Dilutived number of weighted average common shares outstanding	22,128,143	22,323,705	22,204,914	22,322,987
Earnings per common share - Basic	$ 0.84	$ 0.50	$ 2.43	$ 1.59
Earnings per common share - Diluted	$ 0.83	$ 0.49	$ 2.39	$ 1.56
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	321,102	396,952	330,052	382,503

XML

Segment Reporting (Details) (USD $)	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Jun. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Segment Reporting Information [Line Items]
Sales	$ 208,815,000	$ 219,993,000		$ 644,698,000	$ 647,610,000
Revenue from Related Parties	0	0		0	0
Total sales	208,815,000	219,993,000		644,698,000	647,610,000
Operating income	30,376,000	20,721,000		84,129,000	60,776,000
Depreciation and amortization expense	9,244,000	8,943,000		26,643,000	27,794,000
Litigation Settlement, Expense					7,200,000
Prior Period Reclassification Adjustment			1,600,000
Specialty Phosphates US & Canada [Member]
Segment Reporting Information [Line Items]
Sales	147,220,000	153,588,000		455,497,000	463,633,000
Revenue from Related Parties	2,086,000	720,000		3,636,000	2,021,000
Total sales	149,306,000	154,308,000		459,133,000	465,654,000
Operating income	23,603,000	21,482,000		65,150,000	56,032,000
Depreciation and amortization expense	6,483,000	6,967,000		18,092,000	20,540,000
Specialty Phosphates Mexico [Member]
Segment Reporting Information [Line Items]
Sales	43,075,000	44,712,000		128,449,000	126,997,000
Revenue from Related Parties	11,094,000	16,972,000		38,852,000	44,095,000
Total sales	54,169,000	61,684,000		167,301,000	171,092,000
Operating income	5,904,000	2,964,000		22,085,000	4,954,000
Depreciation and amortization expense	2,156,000	1,740,000		7,202,000	5,815,000
GTSP & Other [Member]
Segment Reporting Information [Line Items]
Sales	18,520,000	21,693,000		60,752,000	56,980,000
Revenue from Related Parties	55,000	0		94,000	239,000
Total sales	18,575,000	21,693,000		60,846,000	57,219,000
Operating income	869,000	(3,725,000)		(3,106,000)	(210,000)
Depreciation and amortization expense	605,000	236,000		1,349,000	1,439,000
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Sales	0	0		0	0
Revenue from Related Parties	(13,235,000)	(17,692,000)		(42,582,000)	(46,355,000)
Total sales	(13,235,000)	(17,692,000)		(42,582,000)	(46,355,000)
Operating income	0	0		0	0
Depreciation and amortization expense	0	0			0
Cost of Sales [Member]
Segment Reporting Information [Line Items]
Prior Period Reclassification Adjustment			$ 2,300,000		$ 2,300,000

XML

Debt and Interest (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014 Rate	Sep. 30, 2013	Sep. 30, 2014 Rate	Sep. 30, 2013	Dec. 31, 2013	Dec. 31, 2012 Rate	Dec. 21, 2012
Debt Instrument [Line Items]
Term loan due 2017	$ 93,000,000		$ 93,000,000		$ 96,000,000
Revolver borrowings under the credit facility	35,000,000		35,000,000		67,000,000
Capital Lease Obligations	6,000		6,000		9,000
Debt and Capital Lease Obligations	128,006,000		128,006,000		163,009,000
Long-term Debt and Capital Lease Obligations, Current	4,003,000		4,003,000		4,002,000
Long-term Debt and Capital Lease Obligations	124,003,000		124,003,000		159,007,000
Line of Credit Facility, Current Borrowing Capacity							225,000,000
Repayments of Debt, Percent of Original Loan Balance							1.00%
Document Period End Date			Sep. 30, 2014
Line of Credit Facility, Remaining Borrowing Capacity	187,700,000		187,700,000
Debt, Weighted Average Interest Rate	2.50%		2.50%
Amortization of Financing Costs	130,000	137,000	393,000	425,000
Notional Amount of Interest Rate Derivatives						100,000,000
Debt Instrument, Interest Rate, Stated Percentage						0.9475%
Interest Rate Derivative Assets, at Fair Value	1,000,000		1,000,000
Interest Paid			3,154,000	3,429,000
Interest Expense [Abstract]
Interest expense	1,008,000	1,664,000	2,615,000	4,280,000
Deferred financing cost	130,000	137,000	393,000	425,000
Interest income	(14,000)	(8,000)	(28,000)	(29,000)
Less: amount capitalized for capital projects	(35,000)	(84,000)	(58,000)	(221,000)
Total interest expense, net	1,089,000	1,709,000	2,922,000	4,455,000
Letter of Credit, Sub-Facility [Member]
Debt Instrument [Line Items]
Revolver borrowings under the credit facility	2,300,000		2,300,000
Line of Credit Facility, Current Borrowing Capacity							20,000,000
Term Loan [Member]
Debt Instrument [Line Items]
Term loan due 2017	$ 93,000,000		$ 93,000,000				$ 100,000,000

XML

Acquisitions (Details) (CMI [Member], USD $)	Oct. 31, 2013	Oct. 17, 2013
CMI [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents		$ 97,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other		(57,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables		299,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory		125,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory		20,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		1,092,000
Goodwill, Gross		1,265,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		2,348,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable		(69,000)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	$ 5,000,000	$ 5,100,000

XML

Intangibles and Other Assets, net (Details) (USD $) In Thousands, unless otherwise specified							9 Months Ended						9 Months Ended
	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014 Developed Technology and Application Patents [Member]	Dec. 31, 2013 Developed Technology and Application Patents [Member]	Sep. 30, 2014 Customer Relationships [Member]	Dec. 31, 2013 Customer Relationships [Member]	Sep. 30, 2014 Customer Relationships [Member] Minimum [Member]	Sep. 30, 2014 Customer Relationships [Member] Maximum [Member]	Sep. 30, 2014 Trade Names and License Agreements [Member]	Dec. 31, 2013 Trade Names and License Agreements [Member]	Sep. 30, 2014 Noncompete Agreements [Member]	Dec. 31, 2013 Noncompete Agreements [Member]	Sep. 30, 2014 Noncompete Agreements [Member] Minimum [Member]	Sep. 30, 2014 Noncompete Agreements [Member] Maximum [Member]	Sep. 30, 2014 Developed Technology Rights [Member] Minimum [Member]	Sep. 30, 2014 Developed Technology Rights [Member] Maximum [Member]	Sep. 30, 2014 Trade Names [Member] Minimum [Member]	Sep. 30, 2014 Trade Names [Member] Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization			$ 21,184	$ 19,015	$ 12,364	$ 10,295			$ 7,231	$ 6,198	$ 914	$ 796
Accumulated Amortization, Deferred Finance Costs	2,044	1,652
Finite-Lived Intangible Assets, Useful Life							7 years	20 years					3 years	10 years	5 years	15 years	5 years	20 years
Intangible Assets, Net (Excluding Goodwill)	61,239	66,334	23,942	25,817	26,448	28,517			10,430	11,463	419	537
Deferred Finance Costs, Net	1,616	2,008
Other Assets, Miscellaneous	8,518	6,349
Other Assets	10,134	8,357
Other Assets, Noncurrent	$ 71,373	$ 74,691

XML

Other Long-Term Liabilities (Tables)

9 Months Ended

Sep. 30, 2014

Liabilities, Other than Long-term Debt, Noncurrent [Abstract]

Schedule of Other Long-Term Liabilities

Other long-term liabilities consist of the following:

	September 30, 2014		December 31, 2013
Deferred income taxes	$	30,879	$	32,110
Pension and post retirement liabilities	10,844		11,175
Environmental liabilities	1,100		1,100
Other liabilities	3,915		1,523
	$	46,738	$	45,908

XML

Earnings Per Share (EPS) Earnings Per Share (EPS) (Tables)

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following is a reconciliation of the weighted average basic number of common shares outstanding to the diluted number of common and common stock equivalent shares outstanding and the calculation of earnings per share using the two-class method:

	Three Months Ended						Nine Months Ended
	September 30, 2014			September 30, 2013			September 30, 2014			September 30, 2013
Net income	$	18,320		$	10,940		$	53,133		$	34,910
Less: earnings attributable to unvested shares	(39		)	(16		)	(112		)	(54		)
Net income available to participating common shareholders	$	18,281		$	10,924		$	53,021		$	34,856
Weighted average number of participating common and potential common shares outstanding:
Basic number of participating common shares outstanding	21,741,050			21,947,948			21,826,771			21,932,814
Dilutive effect of stock equivalents	387,093			375,757			378,143			390,173
Diluted number of weighted average participating common shares outstanding	22,128,143			22,323,705			22,204,914			22,322,987
Earnings per participating common share:
Earnings per participating common share—Basic	$	0.84		$	0.50		$	2.43		$	1.59
Earnings per participating common share—Diluted	$	0.83		$	0.49		$	2.39		$	1.56
Total outstanding options, performance share awards and unvested restricted stock not included in the calculation of diluted earnings per share as the effect would be anti-dilutive	321,102			396,952			330,052			382,503

XML

Income Taxes - Narratives (Details) (USD $)	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014 Rate	Sep. 30, 2013 Rate
Income Tax Examination [Line Items]
Effective Income Tax Rate, Continuing Operations		33.00%	34.00%
Effective Income Tax Rate Reconciliation, Tax Contingencies		3.00%
Effective Income Tax Rate Reconciliation, Tax Credit, Other, Amount		1.00%
Unrecognized Tax Benefits		$ 700,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense		200,000
Income Tax Examination, Likelihood of Unfavorable Settlement	P12M
Income Taxes Paid		24,123,000	21,273,000
Canada [Member]
Income Tax Examination [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority	$ 4,000,000	$ 4,000,000
Mexican CNA water tax [Member]
Income Tax Examination [Line Items]
Effective Income Tax Rate Reconciliation, Tax Credit, Other, Amount		3.00%

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Share-Based Compensation - Summary of Assumptions Used in the Option-Pricing Model (Details) (USD $)	9 Months Ended
	Sep. 30, 2014
Share-based Compensation [Abstract]
Expected volatility	50.10%
Dividend yield	3.20%
Risk-free interest rate	2.00%
Expected term	6 years
Weighted average grant date fair value of stock options	$ 20.15
Share-based Compensation Arrangement by Share-based Payament Award, Fair Value Assumptions, Historical Average Volatility Rate of Peer Group	50.00%
Share-based Compensation Arrangement by Share-based Payament Award, Fair Value Assumptions, Historical Average Volatility Rate	50.00%

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Acquisitions Schedule of Business Acquisitions, by Acquisition (Tables)

9 Months Ended

Sep. 30, 2014

Business Acquisition [Line Items]

Business Combination Disclosure [Text Block]

Acquisitions

In October 2013, Innophos purchased substantially all of the assets of privately held Chelated Minerals International, Inc. (CMI), based in Salt Lake City, Utah. CMI has significant knowhow in the manufacture and science of chelated minerals supplied to the human nutrition market. The acquisition of CMI strengthens Innophos’ position in micronutrient ingredients, which further enhances the Company’s ability to supply a broad range of nutrition fortification solutions to its customers. Innophos enjoys a strong position in macronutrient minerals such as calcium, magnesium and potassium that are required in relatively large amounts for a balanced diet. The human diet also requires smaller quantities of a wide range of other minerals such as chromium, selenium, zinc and iron classified as micronutrients. The acquisition had a purchase price of approximately $5 million, subject to specified adjustments, and was funded from cash on-hand.

The purchase accounting for the acquisition has been closed with no adjustments recognized in the nine month period

ended September 30, 2014.

The final purchase price allocation for CMI resulted in the following amounts being allocated to the assets acquired and liabilities assumed at the acquisition date based upon their respective fair values summarized below:

	CMI
Cash	$	97
Accounts receivable	299
Inventory, including fair value adjustment of $20	125
Property, plant and equipment	1,092
Goodwill	1,265
Intangible assets	2,348
Accounts payable	(69		)
Other current liabilities	(57		)
Total	$	5,100

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

The final purchase price allocation for CMI resulted in the following amounts being allocated to the assets acquired and liabilities assumed at the acquisition date based upon their respective fair values summarized below:

	CMI
Cash	$	97
Accounts receivable	299
Inventory, including fair value adjustment of $20	125
Property, plant and equipment	1,092
Goodwill	1,265
Intangible assets	2,348
Accounts payable	(69		)
Other current liabilities	(57		)
Total	$	5,100

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Pension Plans and Postretirement Benefits (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
CANADA
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost	$ 97,000	$ 105,000	$ 290,000	$ 321,000
Defined Benefit Plan, Interest Cost	165,000	158,000	495,000	481,000
Defined Benefit Plan, Expected Return on Plan Assets	(234,000)	(223,000)	(700,000)	(679,000)
Defined Benefit Plan, Amortization of Gains (Losses)	29,000	87,000	86,000	265,000
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	24,000	25,000	71,000	76,000
Defined Benefit Plan, Other Costs	7,000	8,000	21,000	23,000
Defined Benefit Plan, Foreign Currency Exchange Rate Changes, Plan Assets	255,000	(14,000)	236,000	143,000
Defined Benefit Plan, Net Periodic Benefit Cost	343,000	146,000	499,000	630,000
Employer Contributions			400,000
UNITED STATES
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost	78,000	91,000	234,000	273,000
Defined Benefit Plan, Interest Cost	74,000	67,000	222,000	202,000
Defined Benefit Plan, Expected Return on Plan Assets	(30,000)	(27,000)	(91,000)	(82,000)
Defined Benefit Plan, Amortization of Gains (Losses)	(10,000)	14,000	(30,000)	42,000
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0	0	0	0
Defined Benefit Plan, Net Periodic Benefit Cost	112,000	145,000	335,000	435,000
Employer Contributions			200,000
Defined Contribution Plan, Employer Discretionary Contribution Amount			2,900,000
Pension Benefits [Member] | CANADA
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost	79,000	86,000	238,000	263,000
Defined Benefit Plan, Interest Cost	144,000	138,000	431,000	420,000
Defined Benefit Plan, Expected Return on Plan Assets	(234,000)	(223,000)	(700,000)	(679,000)
Defined Benefit Plan, Amortization of Gains (Losses)	25,000	78,000	75,000	238,000
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	24,000	25,000	71,000	76,000
Defined Benefit Plan, Other Costs	0	0	0	0
Defined Benefit Plan, Foreign Currency Exchange Rate Changes, Plan Assets	329,000	(18,000)	304,000	186,000
Defined Benefit Plan, Net Periodic Benefit Cost	367,000	86,000	419,000	504,000
Pension Benefits [Member] | UNITED STATES
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost	0	0	0	0
Defined Benefit Plan, Interest Cost	30,000	27,000	91,000	81,000
Defined Benefit Plan, Expected Return on Plan Assets	(30,000)	(27,000)	(91,000)	(82,000)
Defined Benefit Plan, Amortization of Gains (Losses)	0	14,000	0	42,000
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0	0	0	0
Defined Benefit Plan, Net Periodic Benefit Cost	0	14,000	0	41,000
Other Benefits [Member] | CANADA
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost	18,000	19,000	52,000	58,000
Defined Benefit Plan, Interest Cost	21,000	20,000	64,000	61,000
Defined Benefit Plan, Expected Return on Plan Assets	0	0	0	0
Defined Benefit Plan, Amortization of Gains (Losses)	4,000	9,000	11,000	27,000
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0	0	0	0
Defined Benefit Plan, Other Costs	7,000	8,000	21,000	23,000
Defined Benefit Plan, Foreign Currency Exchange Rate Changes, Plan Assets	(74,000)	4,000	(68,000)	(43,000)
Defined Benefit Plan, Net Periodic Benefit Cost	(24,000)	60,000	80,000	126,000
Other Benefits [Member] | UNITED STATES
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost	78,000	91,000	234,000	273,000
Defined Benefit Plan, Interest Cost	44,000	40,000	131,000	121,000
Defined Benefit Plan, Expected Return on Plan Assets	0	0	0	0
Defined Benefit Plan, Amortization of Gains (Losses)	(10,000)	0	(30,000)	0
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0	0	0	0
Defined Benefit Plan, Net Periodic Benefit Cost	$ 112,000	$ 131,000	$ 335,000	$ 394,000

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Other Current Liabilities (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Other Liabilities, Current [Abstract]
Payroll related	$ 11,889	$ 8,680
Freight and rebates	4,558	5,610
Benefits and pensions	6,651	7,240
Accrual for Taxes Other than Income Taxes, Current	3,792	3,960
Accrued Income Taxes	8,166	4,368
Other	6,677	4,755
Other Liabilities, Current	$ 41,733	$ 34,613

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Basis of Statement Presentation

9 Months Ended

Sep. 30, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

Basis of Statement Presentation

Summary of Significant Accounting Policies

The accompanying unaudited condensed consolidated financial statements of Innophos Holdings, Inc. and Subsidiaries, or Company, have been prepared in accordance with generally accepted accounting principles in the United States of America (U.S.) for interim financial reporting and do not include all disclosures required by generally accepted accounting principles in the U.S. for annual financial reporting, and should be read in conjunction with the audited consolidated and combined financial statements of the Company at December 31, 2013 and for the three years then ended.

The accompanying unaudited condensed consolidated financial statements of the Company reflect all adjustments which management considers necessary for a fair statement of the results of operations for the interim periods and is subject to year-end adjustments. The results of operations for the interim periods are not necessarily indicative of the results for the full year. The December 31, 2013 condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the U.S.

Certain prior year balances have been reclassified to conform to current year presentation.

Out of Period Adjustments

During the first quarter of fiscal 2013, we identified an adjustment necessary for a long-term supply contract. We corrected this item during the first quarter of fiscal 2013, which had the effect of increasing cost of goods sold by $2.3 million, and decreasing net income by $1.6 million for the nine month period ended September 30, 2013. This prior period adjustment was not material to the financial results of the previously issued annual or interim financial statements.

Recently Issued Accounting Standards

Adopted

None.

Issued but not yet adopted

In April 2014, the FASB issued amendments to guidance for reporting discontinued operations and disposals of components of an entity. The amended guidance requires that a disposal representing a strategic shift that has (or will have) a major effect on an entity’s financial results or a business activity classified as held for sale should be reported as discontinued operations. The amendments also expand the disclosure requirements for discontinued operations and add new disclosures for individually significant dispositions that do not qualify as discontinued operations. The amendments are effective prospectively for fiscal years, and interim reporting periods within those years, beginning after December 15, 2014 (early adoption is permitted only for disposals that have not been previously reported). The implementation of the amended guidance is not expected to have a material impact on our consolidated financial position or results of operations and related disclosures.

In May 2014, the FASB issued guidance on revenue from contracts with customers that will supersede most current revenue recognition guidance, including industry-specific guidance. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The guidance provides a five-step analysis of transactions to determine when and how revenue is recognized. Other major provisions include capitalization of certain contract costs, consideration of time value of money in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. The guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. The guidance is effective for the interim and annual periods beginning on or after December 15, 2016 (early adoption is not permitted). The guidance permits the use of either a retrospective or cumulative effect transition method. We have not yet selected a transition method and are currently evaluating the impact of the amended guidance on our consolidated financial position, results of operations and related disclosures.

In June 2014, the FASB issued guidance which requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. The guidance is effective for the interim and annual periods beginning on or after December 15, 2015; early adoption is permitted. We do not anticipate that the adoption of this standard will have a material impact on our financial position, results of operations and related disclosures.

In August 2014 the FASB issued guidance which establishes management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. The amendments require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles in U.S. auditing standards. Specifically, ASU 2014-15 provides a definition of the term substantial doubt and requires an assessment for a period of one year after the date that the financial statements are issued or available to be issued. It also requires certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans and requires an express statement and other disclosures when substantial doubt is not alleviated. The guidance is effective for the interim and annual periods beginning on or after December 15, 2016; early adoption is permitted. We do not anticipate that the adoption of this standard will have a material impact on our financial position, results of operations and related disclosures.

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Share-Based Compensation - Schedule of Compensation Expense (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Share-based Compensation [Abstract]
Stock options	$ 241	$ 73	$ 1,056	$ 772
Restricted stock	273	169	830	517
Performance shares	199	(227)	532	177
Stock Grants Expense	0	0	270	300
Total stock-based compensation expense	$ 713	$ 15	$ 2,688	$ 1,766

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Other Current Assets (Tables)

9 Months Ended

Sep. 30, 2014

Other Current Assets: [Abstract]

Schedule of Other Assets [Table Text Block]

Other current assets consist of the following:

	September 30, 2014		December 31, 2013
Creditable taxes (value added taxes)	$	24,681	$	24,257
Vendor inventory deposits (prepaid)	10,939		14,820
Prepaid income taxes	16,631		12,269
Deferred income taxes	21,244		22,078
Other	4,866		8,537
	$	78,361	$	81,961

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Inventories (Tables)

9 Months Ended

Sep. 30, 2014

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]

Inventories consist of the following:

	September 30, 2014		December 31, 2013
Raw materials	$	46,660	$	60,157
Finished products	104,276		108,334
Spare parts	12,790		12,976
	$	163,726	$	181,467

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Inventories (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Inventory Disclosure [Abstract]
Raw materials	$ 46,660	$ 60,157
Finished goods	104,276	108,334
Spare parts	12,790	12,976
Inventory, Net	163,726	181,467
Inventory Valuation Reserves	$ 13,075	$ 13,857

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Intangibles and Other Assets, net Intangibles and Other Assets, net (Tables)

9 Months Ended

Sep. 30, 2014

Intangibles and Other Assets, net: [Abstract]

Intangibles and Other Assets [Table Text Block]

Intangibles and other assets consist of the following:

	Useful life (years)	September 30, 2014		December 31, 2013
Developed technology and application patents, net of accumulated amortization of $21,184 for 2014 and $19,015 for 2013	7-20	$	23,942	$	25,817
Customer relationships, net of accumulated amortization of $12,364 for 2014 and $10,295 for 2013	5-15	26,448		28,517
Tradenames and license agreements, net of accumulated amortization of $7,231 for 2014 and $6,198 for 2013	5-20	10,430		11,463
Non-compete agreements, net of accumulated amortization of $914 for 2014 and $796 for 2013	3-10	419		537
Total intangibles		$	61,239	$	66,334
Deferred financing costs, net of accumulated amortization of $2,044 for 2014 and $1,652 for 2013 (see note 9)		$	1,616	$	2,008
Other assets		8,518		6,349
Total other assets		$	10,134	$	8,357
		$	71,373	$	74,691

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Other Current Liabilities (Tables)

9 Months Ended

Sep. 30, 2014

Other Liabilities, Current [Abstract]

Other Current Liabilities [Table Text Block]

Other current liabilities consist of the following:

	September 30, 2014		December 31, 2013
Payroll related	$	11,889	$	8,680
Taxes other than income taxes	4,558		5,610
Benefits and pensions	6,651		7,240
Freight and rebates	3,792		3,960
Income taxes	8,166		4,368
Other	6,677		4,755
	$	41,733	$	34,613

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Statements of Stockholders' Equity (Unaudited) Statements of Stockholders' Equity Parenthetical (USD $) In Thousands, unless otherwise specified	9 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
Other Comprehensive Income (Loss), Tax	$ 8	$ 2,184

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Debt and Interest (Tables)

9 Months Ended

Sep. 30, 2014

Short-term Borrowings, Long-Term Debt, and Interest Expense: [Abstract]

Short-Term Borrowings and Long-Term Debt [Table Text Block]

Short-term borrowings and long-term debt consist of the following:

	September 30, 2014		December 31, 2013
Term loan due 2017	$	93,000	$	96,000
Revolver borrowings under the credit facility	35,000		67,000
Capital leases	6		9
Total borrowings	$	128,006	$	163,009
Less current portion	4,003		4,002
Long-term debt	$	124,003	$	159,007

Components of Interest Expense, Net [Table Text Block]

Interest expense, net consists of the following:

	Three months ended						Nine months ended
	September 30, 2014			September 30, 2013			September 30, 2014			September 30, 2013
Interest expense	$	1,008		$	1,664		$	2,615		$	4,280
Deferred financing cost	130			137			393			425
Interest income	(14		)	(8		)	(28		)	(29		)
Less: amount capitalized for capital projects	(35		)	(84		)	(58		)	(221		)
Total interest expense, net	$	1,089		$	1,709		$	2,922		$	4,455

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Dividends (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Dividends [Abstract]
Dividends declared - per share	$ 0.48	$ 0.35	$ 1.28	$ 1.05
Dividends declared - aggregate	$ 10,477	$ 7,694	$ 28,022	$ 23,020
Common Stock, Dividends, Per Share, Cash Paid	$ 0.48	$ 0.35	$ 1.28	$ 1.05
Dividends paid - aggregate	$ 10,477	$ 7,694	$ 28,022	$ 23,020

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Accumulated Other Comprehensive Income (Loss) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2012
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (1,425)	$ (4,432)	$ (1,425)	$ (4,432)	$ (1,565)	$ (1,929)	$ (4,091)	$ (5,936)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	504	(341)	140	1,504
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0	0	0
Other comprehensive income (loss), net of Tax	504	(341)	140	1,504	4,371
Pension and Other Postretirement Plans Costs [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(2,069)	(4,951)	(2,069)	(4,951)	(2,287)	(2,215)	(4,957)	(5,313)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	146	6	218	362
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0	0	0
Other comprehensive income (loss), net of Tax	146	6	218	362
Interest Rate Swap [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	644	519	644	519	722	286	866	(623)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	358	(347)	(78)	1,142
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0	0	0
Other comprehensive income (loss), net of Tax	$ 358	$ (347)	$ (78)	$ 1,142

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Condensed Consolidated Balance Sheets (Unaudited) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
ASSETS
Cash and cash equivalents	$ 45,164	$ 32,755
Accounts receivable, net	94,699	88,434
Inventories	163,726	181,467
Other current assets	78,361	81,961
Total current assets	381,950	384,617
Property, plant and equipment, net	199,976	201,985
Goodwill	84,373	84,373
Intangibles and other assets, net	71,373	74,691
Total assets	737,672	745,666
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current portion of long-term debt	4,003	4,002
Accounts payable, trade and other	43,300	38,717
Other current liabilities	41,733	34,613
Total current liabilities	89,036	77,332
Long-term debt	124,003	159,007
Other long-term liabilities	46,738	45,908
Total liabilities	259,777	282,247
Commitments and contingencies (note 13)
Stockholders’ equity:
Common stock, par value $.001 per share; authorized 100,000,000 shares; issued 22,429,798 and 22,327,670 shares and outstanding 21,741,864 and 21,893,137 shares	22	22
Paid-in capital	123,708	120,046
Common stock held in treasury, at cost (687,934 and 434,533 shares)	(33,984)	(19,599)
Retained earnings	389,574	364,515
Accumulated other comprehensive loss	(1,425)	(1,565)
Total stockholders’ equity	477,895	463,419
Total liabilities and stockholders’ equity	$ 737,672	$ 745,666

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Other Current Assets (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Other Current Assets: [Abstract]
Creditable taxes (value added taxes)	$ 24,681	$ 24,257
Vendor inventory deposits (prepaid)	10,939	14,820
Prepaid income taxes	16,631	12,269
Deferred income taxes	21,244	22,078
Other	4,866	8,537
Other Assets, Current	$ 78,361	$ 81,961

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Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities
Net income	$ 53,133	$ 34,910
Adjustments to reconcile net income to net cash provided from operating activities:
Depreciation and amortization	26,643	27,794
Amortization of deferred financing charges	393	425
Deferred income tax (benefit) provision	(71)	610
Share-based compensation	2,688	1,766
Changes in assets and liabilities:
Increase in accounts receivable	(6,265)	(5,197)
Decrease in inventories	17,741	5,008
Decrease in other current assets	2,766	17,211
Increase in accounts payable	4,583	7,079
Increase (decrease) in other current liabilities	7,120	(16,226)
Changes in other long-term assets and liabilities	1,408	650
Net cash provided from operating activities	110,139	74,030
Cash flows used for investing activities:
Capital expenditures	(21,000)	(30,333)
Payments to Acquire Intangible Assets	(294)	0
Net cash used for investing activities	(21,294)	(30,333)
Cash flows used for financing activities:
Proceeds from exercise of stock options	159	500
Long-term debt borrowings	0	28,000
Long-term debt repayments	(35,003)	(42,000)
Excess tax benefits from exercise of stock options	814	1,877
Common stock repurchases and restricted stock forfeitures	(14,384)	(70)
Dividends paid	(28,022)	(23,020)
Net cash used for financing activities	(76,436)	(34,713)
Net change in cash	12,409	8,984
Cash and cash equivalents at beginning of period	32,755	26,815
Cash and cash equivalents at end of period	$ 45,164	$ 35,799

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Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2014

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]

Changes in Accumulated Other Comprehensive Income by Component:

For the three months ended September 30, 2014	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at June 30, 2014	$	(2,215	)	$	286		$	(1,929	)
Other comprehensive income (loss) before reclassifications	146			358			504
Amounts reclassified from accumulated other comprehensive income	—			—			—
Net current period other comprehensive income (loss)	146			358			504
Balance at September 30, 2014	$	(2,069	)	$	644		$	(1,425	)
For the three months ended September 30, 2013	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at June 30, 2013	$	(4,957	)	$	866		$	(4,091	)
Other comprehensive income before reclassifications	6			(347		)	(341		)
Amounts reclassified from accumulated other comprehensive income	—			—			—
Net current period other comprehensive income	6			(347		)	(341		)
Balance at September 30, 2013	$	(4,951	)	$	519		$	(4,432	)
For the nine months ended September 30, 2014	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at December 31, 2013	$	(2,287	)	$	722		$	(1,565	)
Other comprehensive income (loss) before reclassifications	218			(78		)	140
Amounts reclassified from accumulated other comprehensive income	—			—			—
Net current period other comprehensive income (loss)	218			(78		)	140
Balance at September 30, 2014	$	(2,069	)	$	644		$	(1,425	)
For the nine months ended September 30, 2013	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at December 31, 2012	$	(5,313	)	$	(623	)	$	(5,936	)
Other comprehensive income before reclassifications	362			1,142			1,504
Amounts reclassified from accumulated other comprehensive income	—			—			—
Net current period other comprehensive income	362			1,142			1,504
Balance at September 30, 2013	$	(4,951	)	$	519		$	(4,432	)

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Accumulated Other Comprehensive Income (Loss) (Notes)

9 Months Ended

Sep. 30, 2014

Accumulated Other Comprehensive Income (Loss) [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

Accumulated Other Comprehensive Income (Loss)

Changes in Accumulated Other Comprehensive Income by Component:

For the three months ended September 30, 2014	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at June 30, 2014	$	(2,215	)	$	286		$	(1,929	)
Other comprehensive income (loss) before reclassifications	146			358			504
Amounts reclassified from accumulated other comprehensive income	—			—			—
Net current period other comprehensive income (loss)	146			358			504
Balance at September 30, 2014	$	(2,069	)	$	644		$	(1,425	)
For the three months ended September 30, 2013	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at June 30, 2013	$	(4,957	)	$	866		$	(4,091	)
Other comprehensive income before reclassifications	6			(347		)	(341		)
Amounts reclassified from accumulated other comprehensive income	—			—			—
Net current period other comprehensive income	6			(347		)	(341		)
Balance at September 30, 2013	$	(4,951	)	$	519		$	(4,432	)
For the nine months ended September 30, 2014	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at December 31, 2013	$	(2,287	)	$	722		$	(1,565	)
Other comprehensive income (loss) before reclassifications	218			(78		)	140
Amounts reclassified from accumulated other comprehensive income	—			—			—
Net current period other comprehensive income (loss)	218			(78		)	140
Balance at September 30, 2014	$	(2,069	)	$	644		$	(1,425	)
For the nine months ended September 30, 2013	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at December 31, 2012	$	(5,313	)	$	(623	)	$	(5,936	)
Other comprehensive income before reclassifications	362			1,142			1,504
Amounts reclassified from accumulated other comprehensive income	—			—			—
Net current period other comprehensive income	362			1,142			1,504
Balance at September 30, 2013	$	(4,951	)	$	519		$	(4,432	)

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Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

For the three months ended September 30, 2014	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	147,220	$	43,075	$	18,520		$	—		$	208,815
Intersegment sales	2,086		11,094		55			(13,235		)	—
Total sales	$	149,306	$	54,169	$	18,575		$	(13,235	)	$	208,815
Operating income	$	23,603	$	5,904	$	869		$	—		$	30,376
Depreciation and amortization expense	$	6,483	$	2,156	$	605		$	—		$	9,244
For the three months ended September 30, 2013	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	153,588	$	44,712	$	21,693		$	—		$	219,993
Intersegment sales	720		16,972		—			(17,692		)	—
Total sales	$	154,308	$	61,684	$	21,693		$	(17,692	)	$	219,993
Operating income	$	21,482	$	2,964	$	(3,725	)	$	—		$	20,721
Depreciation and amortization expense	$	6,967	$	1,740	$	236		$	—		$	8,943
For the nine months ended September 30, 2014	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	455,497	$	128,449	$	60,752		$	—		$	644,698
Intersegment sales	3,636		38,852		94			(42,582		)	—
Total sales	$	459,133	$	167,301	$	60,846		$	(42,582	)	$	644,698
Operating income	$	65,150	$	22,085	$	(3,106	)	$	—		$	84,129
Depreciation and amortization expense	$	18,092	$	7,202	$	1,349					$	26,643
For the nine months ended September 30, 2013	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	463,633	$	126,997	$	56,980		$	—		$	647,610
Intersegment sales	2,021		44,095		239			(46,355		)	—
Total sales	$	465,654	$	171,092	$	57,219		$	(46,355	)	$	647,610
Operating income (a) (b)	$	56,032	$	4,954	$	(210	)	$	—		$	60,776
Depreciation and amortization expense	$	20,540	$	5,815	$	1,439		$	—		$	27,794

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Basis of Statement Presentation (Policies)

9 Months Ended

Sep. 30, 2014

Basis of Statement Presentation: [Abstract]

New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

Recently Issued Accounting Standards

Adopted

None.

Issued but not yet adopted

In April 2014, the FASB issued amendments to guidance for reporting discontinued operations and disposals of components of an entity. The amended guidance requires that a disposal representing a strategic shift that has (or will have) a major effect on an entity’s financial results or a business activity classified as held for sale should be reported as discontinued operations. The amendments also expand the disclosure requirements for discontinued operations and add new disclosures for individually significant dispositions that do not qualify as discontinued operations. The amendments are effective prospectively for fiscal years, and interim reporting periods within those years, beginning after December 15, 2014 (early adoption is permitted only for disposals that have not been previously reported). The implementation of the amended guidance is not expected to have a material impact on our consolidated financial position or results of operations and related disclosures.

In May 2014, the FASB issued guidance on revenue from contracts with customers that will supersede most current revenue recognition guidance, including industry-specific guidance. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The guidance provides a five-step analysis of transactions to determine when and how revenue is recognized. Other major provisions include capitalization of certain contract costs, consideration of time value of money in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. The guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. The guidance is effective for the interim and annual periods beginning on or after December 15, 2016 (early adoption is not permitted). The guidance permits the use of either a retrospective or cumulative effect transition method. We have not yet selected a transition method and are currently evaluating the impact of the amended guidance on our consolidated financial position, results of operations and related disclosures.

In June 2014, the FASB issued guidance which requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. The guidance is effective for the interim and annual periods beginning on or after December 15, 2015; early adoption is permitted. We do not anticipate that the adoption of this standard will have a material impact on our financial position, results of operations and related disclosures.

In August 2014 the FASB issued guidance which establishes management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. The amendments require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles in U.S. auditing standards. Specifically, ASU 2014-15 provides a definition of the term substantial doubt and requires an assessment for a period of one year after the date that the financial statements are issued or available to be issued. It also requires certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans and requires an express statement and other disclosures when substantial doubt is not alleviated. The guidance is effective for the interim and annual periods beginning on or after December 15, 2016; early adoption is permitted. We do not anticipate that the adoption of this standard will have a material impact on our financial position, results of operations and related disclosures.

Comparability of Prior Year Financial Data, Policy [Policy Text Block]

Out of Period Adjustments

During the first quarter of fiscal 2013, we identified an adjustment necessary for a long-term supply contract. We corrected this item during the first quarter of fiscal 2013, which had the effect of increasing cost of goods sold by $2.3 million, and decreasing net income by $1.6 million for the nine month period ended September 30, 2013

Description of Business and Principles of Consolidation [Policy Text Block]

1. Basis of Statement Presentation

Summary of Significant Accounting Policies

The accompanying unaudited condensed consolidated financial statements of Innophos Holdings, Inc. and Subsidiaries, or Company, have been prepared in accordance with generally accepted accounting principles in the United States of America (U.S.) for interim financial reporting and do not include all disclosures required by generally accepted accounting principles in the U.S. for annual financial reporting, and should be read in conjunction with the audited consolidated and combined financial statements of the Company at December 31, 2013 and for the three years then ended.

The accompanying unaudited condensed consolidated financial statements of the Company reflect all adjustments which management considers necessary for a fair statement of the results of operations for the interim periods and is subject to year-end adjustments. The results of operations for the interim periods are not necessarily indicative of the results for the full year. The December 31, 2013 condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the U.S.

Certain prior year balances have been reclassified to conform to current year presentation.

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Statements of Stockholders' Equity (Unaudited) (USD $) In Thousands, except Share data	Total USD ($)	Number of Common Shares	Common Stock USD ($)	Retained Earnings USD ($)	Paid-in Capital USD ($)	Accumulated Other Comprehensive Income(Loss) USD ($)
Balance at Dec. 31, 2012	$ 444,323		$ 22	$ 346,866	$ 103,371	$ (5,936)
Balance, shares at Dec. 31, 2012		21,831,000
Net income	49,506			49,506
Other comprehensive (loss) income, net of tax	4,371					4,371
Proceeds from stock award exercises and issuances, shares		217,000
Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Including Stock Options			0
Proceeds from stock award exercises and issuances	(759)				(759)
Share-based compensation	2,174				2,174
Stock Repurchased During Period, Shares		(150,000)
Stock Repurchased During Period, Value	(7,118)				(7,118)
Excess tax benefits from exercise of stock options	2,849				2,849
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited		(5,000)
Restricted Stock Award, Forfeitures	(70)				(70)
Dividends declared	(31,857)			(31,857)
Balance at Dec. 31, 2013	463,419		22	364,515	100,447	(1,565)
Balance, shares at Dec. 31, 2013	21,893,137	21,893,000
Net income	53,133			53,133
Other comprehensive (loss) income, net of tax	140					140
Proceeds from stock award exercises and issuances, shares		103,000
Proceeds from stock award exercises and issuances	159				159
Share-based compensation	2,688				2,688
Stock Repurchased During Period, Shares		(250,000)
Stock Repurchased During Period, Value	(14,182)				(14,182)
Excess tax benefits from exercise of stock options	814				814
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited		(4,000)
Restricted Stock Award, Forfeitures	(202)				(202)
Dividends declared	(28,074)			(28,074)
Balance at Sep. 30, 2014	$ 477,895		$ 22	$ 389,574	$ 89,724	$ (1,425)
Balance, shares at Sep. 30, 2014	21,741,864	21,742,000

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Condensed Consolidated Balance Sheets (Unaudited) Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Common Stock, Shares, Issued	22,429,798	22,327,670
Common Stock, Shares, Outstanding	21,741,864	21,893,137
Treasury Stock, Shares	687,934	434,533
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	100,000,000	100,000,000

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Debt and Interest

9 Months Ended

Sep. 30, 2014

Short-term Borrowings, Long-Term Debt, and Interest Expense: [Abstract]

Debt and Interest

Short-term Borrowings, Long-Term Debt, and Interest Expense

Short-term borrowings and long-term debt consist of the following:

	September 30, 2014		December 31, 2013
Term loan due 2017	$	93,000	$	96,000
Revolver borrowings under the credit facility	35,000		67,000
Capital leases	6		9
Total borrowings	$	128,006	$	163,009
Less current portion	4,003		4,002
Long-term debt	$	124,003	$	159,007

The Company's credit facility includes a term loan of $100.0 million and a revolving line of credit from the Lenders of up to $225.0 million, including a $20.0 million letter of credit sub-facility, all maturing on December 21, 2017. Repayments of the term loan are required at the rate of 1% of original principal amount per quarter beginning on March 31, 2013.

As of September 30, 2014, $93.0 million was outstanding under the Term Loan and $35.0 million was outstanding under the revolving line of credit, both of which approximate fair value because they have a floating interest rate (determined using level 2 inputs within the fair value hierarchy) with total availability at $187.7 million, taking into account $2.3 million in face amount of letters of credit issued under the sub-facility. The current weighted average interest rate for all debt is 2.5%.

Simultaneously with initiating the new senior facility, Innophos entered into an interest rate swap, swapping the LIBOR exposure on $100.0 million adjusting quarterly consistent with the Term Loan, with a fixed rate of 0.9475% plus the applicable margin on the debt expiring in December 2017. This interest rate swap has been designated as a cashflow hedge (Level 2) with the changes in value recorded through other comprehensive income. The fair value of this interest rate swap is an asset of approximately $1.0 million as of September 30, 2014.

We manage our interest rate risk by balancing the amount of fixed-rate and floating-rate debt to the extent practicable consistent with our credit status.

Total interest paid by the Company for all indebtedness for the nine months ended September 30, 2014 and September 30, 2013 was $3,154 and $3,429, respectively.

As of September 30, 2014, the Company was in full compliance with all debt covenant requirements.

Interest expense, net consists of the following:

	Three months ended						Nine months ended
	September 30, 2014			September 30, 2013			September 30, 2014			September 30, 2013
Interest expense	$	1,008		$	1,664		$	2,615		$	4,280
Deferred financing cost	130			137			393			425
Interest income	(14		)	(8		)	(28		)	(29		)
Less: amount capitalized for capital projects	(35		)	(84		)	(58		)	(221		)
Total interest expense, net	$	1,089		$	1,709		$	2,922		$	4,455

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Document and Entity Information Document	9 Months Ended
	Sep. 30, 2014
Document Information [Line Items]
Entity Registrant Name	Innophos Holdings, Inc.
Trading Symbol	IPHS
Entity Central Index Key	0001364099
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding	21,741,864
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

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Other Long-Term Liabilities

9 Months Ended

Sep. 30, 2014

Liabilities, Other than Long-term Debt, Noncurrent [Abstract]

Other Liabilities Disclosure [Text Block]

Other Long-Term Liabilities

Other long-term liabilities consist of the following:

	September 30, 2014		December 31, 2013
Deferred income taxes	$	30,879	$	32,110
Pension and post retirement liabilities	10,844		11,175
Environmental liabilities	1,100		1,100
Other liabilities	3,915		1,523
	$	46,738	$	45,908

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Consolidated Statements of Comprehensive Income (Unaudited) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Statement of Comprehensive Income [Abstract]
Net sales	$ 208,815	$ 219,993	$ 644,698	$ 647,610
Cost of goods sold	157,852	181,288	499,230	530,976
Gross profit	50,963	38,705	145,468	116,634
Operating expenses:
Selling, general and administrative	19,419	17,156	58,075	53,451
Research & development expenses	1,168	828	3,264	2,407
Total operating expenses	20,587	17,984	61,339	55,858
Operating income	30,376	20,721	84,129	60,776
Interest expense, net	1,089	1,709	2,922	4,455
Foreign exchange loss	1,804	674	1,763	3,091
Income before income taxes	27,483	18,338	79,444	53,230
Provision for income taxes	9,163	7,398	26,311	18,320
Net income	18,320	10,940	53,133	34,910
Net income attributable to participating common shareholders	18,281	10,924	53,021	34,856
Income per participating share:
Basic	$ 0.84	$ 0.50	$ 2.43	$ 1.59
Diluted	$ 0.83	$ 0.49	$ 2.39	$ 1.56
Weighted average participating shares outstanding:
Basic	21,741,050	21,947,948	21,826,771	21,932,814
Diluted	22,128,143	22,323,705	22,204,914	22,322,987
Other comprehensive (loss) income, net of tax:
Change in interest rate swaps, (net of tax $220, ($213), ($48) and $700)	358	(347)	(78)	1,142
Change in pension and post-retirement plans, (net of tax $47, $4, $67 and $258)	146	6	218	362
Other comprehensive (loss) income, net of tax	504	(341)	140	1,504
Comprehensive income	$ 18,824	$ 10,599	$ 53,273	$ 36,414

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Stockholders' Equity / Share-Based Compensation

9 Months Ended

Sep. 30, 2014

Share-based Compensation [Abstract]

Share-Based Compensation

Stockholders’ Equity / Stock-Based Compensation

Our compensation programs include share-based payments. The primary share-based awards and their general terms and conditions currently in effect are as follows:

• Restricted stock grants, which entitle the holder to receive, at the end of each vesting term, a specified number of shares of the Company's common stock, and which also entitle the holder to receive dividends paid on such grants throughout the vesting period.

• Stock options, which entitle the holder to purchase, after the end of a vesting term, a specified number of shares of the Company’s common stock at an exercise price per share set equal to the market price of the Company’s common stock on the date of grant.

• Performance share awards which entitle the holder to receive, at the end of a vesting term, a number of shares of the Company’s common stock, within a range of shares from zero to a specified maximum (generally 200%), calculated using a combination of performance indicators as defined solely by reference to the Company’s own activities. Amounts equivalent to dividends will accrue over the performance period and are paid on performance share awards when vested and distributed.

• Annual stock retainer grants, which entitle independent members of the Board of Directors to receive a number of shares of the Company’s common stock equal to a fixed retainer value.

Restricted Stock

On March 28, 2014 there were a total of 26,574 restricted shares granted to certain employees with a fair value of $1.5 million. These awards are classified as equity awards and vest annually over three years. The related compensation expense is based on the date of grant share price of $55.49. The compensation expense is amortized on a straight-line basis over the requisite vesting period and accelerated for those employees that are retirement eligible during the vesting period.

Stock Options

On March 28, 2014 the Company granted 76,720 non-qualified stock options at an exercise price of $55.49 per share to certain employees with a fair value of $1.5 million. The non-qualified stock options vest annually over three years with a March 28, 2024 expiration date.

The fair value of the options granted during 2014 was determined using the Black-Scholes option-pricing model. The assumptions used in the Black-Scholes option-pricing model were as follows:

Non-qualified stock options
Expected volatility	50.1		%
Dividend yield	3.2		%
Risk-free interest rate	2.0		%
Expected term (years)	6
Weighted average grant date fair value of stock options	$	20.15

For the 2014 grants the Company had chosen a blended volatility which consists of 50% historical volatility average of a peer group and 50% historical volatility of Innophos. The expected term for the stock options is based on the simplified method since the Company has limited data on the exercises of stock options. These stock options qualify as “plain vanilla” stock options in accordance with SAB 110. The dividend yield is the expected annual dividend payments divided by the average stock price up to the date of grant. The risk-free interest rates are derived from the U.S. Treasury securities in effect on the date of grant whose maturity period equals the options expected term. The Company applies an expected forfeiture rate to stock-based compensation expense. The estimate of the forfeiture rate is based primarily upon historical experience of employee turnover. As actual forfeitures become known, stock-based compensation expense is adjusted accordingly.

Performance Share Awards

On March 28, 2014, the Company granted 44,321 performance shares to certain employees with a fair value of $2.5 million. The performance shares vest at the end of the three year performance cycle and the number of shares distributable depends on the extent to which the Company attains pre-established performance goals. Amounts equivalent to declared dividends will accrue on the performance shares and will vest over the same period.

Stock Grants

In May 2014 the five external members of the Board of Directors were granted a combined total of 5,145 shares of the Company's common stock with an aggregated fair value of approximately $0.3 million which immediately vested as part of their director fees.

The following table summarizes the components of stock-based compensation expense, all of which has been classified as selling, general and administrative expense:

	Three Months Ended					Nine Months Ended
	September 30, 2014		September 30, 2013			September 30, 2014		September 30, 2013
Stock options	$	241	$	73		$	1,056	$	772
Restricted stock	273		169			830		517
Performance shares	199		(227		)	532		177
Stock grants	—		—			270		300
Total share-based compensation expense	$	713	$	15		$	2,688	$	1,766

During 2011 the Board of Directors authorized a repurchase program for Company common stock of up to $50 million. Under the program, shares will be repurchased from time to time at management's discretion, either through open market transactions, block purchases, private transactions or other means and will be funded through existing liquidity and cash from operations. A five year time limit has been set for the expiration of the program as initially structured. The timing of repurchases and the exact number of shares of common stock to be purchased will depend upon market conditions and other factors. However, annual repurchase amounts are expected at a minimum to be sufficient to reduce significantly, or eliminate, earnings per share dilution caused by shares issued upon the exercise of stock options and in connection with other equity based compensation plans. Treasury stock is recognized at the cost to reacquire the shares. During the second quarter of 2014, the Company repurchased 112,002 shares of its common stock on the open market at an average price of 55.16 per share or $6.2 million. During the third quarter of 2014, the Company repurchased 137,781 shares of its common stock on the open market at an average price of 58.09 per share or $8.0 million.

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Dividends

9 Months Ended

Sep. 30, 2014

Dividends [Abstract]

Dividends [Text Block]

Dividends

The following is the dividend activity for the three and nine months ended September 30, 2014 and September 30, 2013:

	Three Months Ended				Nine Months Ended
	September 30				September 30
	2014		2013		2014		2013
Dividends declared – per share	$	0.48	$	0.35	$	1.28	$	1.05
Dividends declared – aggregate	10,477		7,694		28,022		23,020
Dividends paid – per share	0.48		0.35		1.28		1.05
Dividends paid – aggregate	10,477		7,694		28,022		23,020

We are a holding company that does not conduct any business operations of our own. As a result, we are dependent upon cash dividends, distributions and other transfers from our subsidiaries, most directly Innophos, Inc., our primary operating subsidiary, and Innophos Investments Holdings, Inc., its parent, to make dividend payments on our Common Stock. The Company's Board of Directors declared an increase to its quarterly dividend to $0.48 per share to be paid in the third quarter of 2014.

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Segment Reporting

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Segment Reporting [Text Block]

Segment Reporting

The company discloses certain financial and supplementary information about its reportable segments, revenue by products and revenues by geographic area. Operating segments are defined as components of an enterprise about which separate discrete financial information is evaluated regularly by the chief operating decision maker, in order to decide how to allocate resources and assess performance. The primary performance indicators for the chief operating decision maker are sales and operating income, with sales presented on a ship-from basis. All references to sales in this Form 10-Q, either on a ship-from or ship-to basis, are on the same basis of revenue recognition and are recognized when title and risk of loss passes to the customer, which occurs either upon shipment or delivery, depending upon the agreed sales terms with customers.

The Company's reportable segments reflect the core businesses in which Innophos operates and how it is managed. The Company reports its core specialty phosphates business separately from granular triple super-phosphate, or GTSP, and other non-specialty phosphate products (GTSP & Other). Kelatron, AMT, CMI and Triarco are included in the Specialty Phosphates US & Canada segment and in the Specialty Ingredients product line. Specialty Phosphates consists of the products lines Specialty Ingredients, Food & Technical Grade PPA, and STPP & Detergent Grade PPA. GTSP & Other includes fertilizer co-product GTSP and other non-specialty phosphate products.

For the three months ended September 30, 2014	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	147,220	$	43,075	$	18,520		$	—		$	208,815
Intersegment sales	2,086		11,094		55			(13,235		)	—
Total sales	$	149,306	$	54,169	$	18,575		$	(13,235	)	$	208,815
Operating income	$	23,603	$	5,904	$	869		$	—		$	30,376
Depreciation and amortization expense	$	6,483	$	2,156	$	605		$	—		$	9,244
For the three months ended September 30, 2013	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	153,588	$	44,712	$	21,693		$	—		$	219,993
Intersegment sales	720		16,972		—			(17,692		)	—
Total sales	$	154,308	$	61,684	$	21,693		$	(17,692	)	$	219,993
Operating income	$	21,482	$	2,964	$	(3,725	)	$	—		$	20,721
Depreciation and amortization expense	$	6,967	$	1,740	$	236		$	—		$	8,943
For the nine months ended September 30, 2014	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	455,497	$	128,449	$	60,752		$	—		$	644,698
Intersegment sales	3,636		38,852		94			(42,582		)	—
Total sales	$	459,133	$	167,301	$	60,846		$	(42,582	)	$	644,698
Operating income	$	65,150	$	22,085	$	(3,106	)	$	—		$	84,129
Depreciation and amortization expense	$	18,092	$	7,202	$	1,349					$	26,643
For the nine months ended September 30, 2013	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	463,633	$	126,997	$	56,980		$	—		$	647,610
Intersegment sales	2,021		44,095		239			(46,355		)	—
Total sales	$	465,654	$	171,092	$	57,219		$	(46,355	)	$	647,610
Operating income (a) (b)	$	56,032	$	4,954	$	(210	)	$	—		$	60,776
Depreciation and amortization expense	$	20,540	$	5,815	$	1,439		$	—		$	27,794

(a) The nine months ended September 30, 2013 includes a $7.2 million benefit to earnings related to updates to the provision for the CNA Fresh Water Claims in GTSP & Other.

(b) The nine month period ended September 30, 2013 includes a $2.3 million charge to earnings for out of period costs in the US.

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Income Taxes

9 Months Ended

Sep. 30, 2014

Inventory Disclosure [Abstract]

Income Tax Disclosure [Text Block]

come Taxes

The effective income tax rate on income before taxes was approximately 33% for the nine months ended September 30, 2014 compared to approximately 34% for the comparable period in 2013. The variance in the effective tax rate is primarily due to increased taxable income in lower tax rate jurisdictions, the Mexican CNA Water Tax Claims and other international benefits being recorded as discrete items for income tax provision purposes in the prior year which decreased the prior year effective tax rate by 3%, uncertain income tax position benefits which decreased the effective tax rate by 3% from the prior year and state research and development credits which decreased the current year effective tax rate by 1%.

Business is conducted in various countries throughout the world and is subject to tax in numerous jurisdictions. A significant number of tax returns are filed and subject to examination by various federal, state and local tax authorities. Tax examinations are often complex, as tax authorities may disagree with the treatment of items reported requiring several years to resolve. As such, the Company maintains liabilities for possible assessments by tax authorities resulting from known tax exposures for uncertain income tax positions. The Company’s policy is to accrue associated penalties in selling, general and administrative expenses and to accrue interest in net interest expense. Currently, the Company is under examination, or has been contacted for examination on income tax returns for the years 2007 through 2011. In addition, Innophos Canada, Inc. was assessed approximately $4.0 million for the tax years 2007 and 2008 by the Canadian tax authorities. The Company is contesting the full assessment. The Company believes that its tax position is more likely than not to be sustained and has not recorded a charge for this tax matter. The Company recognized in the consolidated statement of income approximately $0.7 million of benefit as a result of settlements with income tax authorities offset by revisions for existing uncertain income tax positions for the nine months ended September 30, 2014. The Company has also recognized a benefit of approximately $0.2 million for interest and penalties in the consolidated statement of income for the nine months ended September 30, 2014. It is reasonably possible that new issues will be raised by tax authorities which may require adjustments to the amount of unrecognized tax benefits, however as of September 30, 2014, the Company estimates the liability for unrecognized tax benefits will not change during the next twelve months. Other than the items mentioned above, as of September 30, 2014, no material adjustments have been proposed to the Company's tax positions and the Company currently does not anticipate any adjustments that would result in a material change to its financial position during the next twelve months.

Income taxes paid were $24,123 and $21,273 for the nine months ended September 30, 2014 and September 30, 2013, respectively.

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Intangibles and Other Assets, net

9 Months Ended

Sep. 30, 2014

Intangibles and Other Assets, net: [Abstract]

Intangibles and Other Assets, net [Text Block]

Intangibles and Other Assets, net

Intangibles and other assets consist of the following:

	Useful life (years)	September 30, 2014		December 31, 2013
Developed technology and application patents, net of accumulated amortization of $21,184 for 2014 and $19,015 for 2013	7-20	$	23,942	$	25,817
Customer relationships, net of accumulated amortization of $12,364 for 2014 and $10,295 for 2013	5-15	26,448		28,517
Tradenames and license agreements, net of accumulated amortization of $7,231 for 2014 and $6,198 for 2013	5-20	10,430		11,463
Non-compete agreements, net of accumulated amortization of $914 for 2014 and $796 for 2013	3-10	419		537
Total intangibles		$	61,239	$	66,334
Deferred financing costs, net of accumulated amortization of $2,044 for 2014 and $1,652 for 2013 (see note 9)		$	1,616	$	2,008
Other assets		8,518		6,349
Total other assets		$	10,134	$	8,357
		$	71,373	$	74,691

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Inventories

9 Months Ended

Sep. 30, 2014

Inventory Disclosure [Abstract]

Inventories [Text Block]

Inventories

Inventories consist of the following:

	September 30, 2014		December 31, 2013
Raw materials	$	46,660	$	60,157
Finished products	104,276		108,334
Spare parts	12,790		12,976
	$	163,726	$	181,467

Inventory reserves for excess quantities, obsolescence or shelf-life expiration as of September 30, 2014 and December 31, 2013 were $13,075 and $13,857, respectively.

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Other Current Assets

9 Months Ended

Sep. 30, 2014

Other Current Assets: [Abstract] [Abstract]

Other Current Assets [Text Block]

Other Current Assets

Other current assets consist of the following:

	September 30, 2014		December 31, 2013
Creditable taxes (value added taxes)	$	24,681	$	24,257
Vendor inventory deposits (prepaid)	10,939		14,820
Prepaid income taxes	16,631		12,269
Deferred income taxes	21,244		22,078
Other	4,866		8,537
	$	78,361	$	81,961

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Other Current Liabilities

9 Months Ended

Sep. 30, 2014

Other Liabilities, Current [Abstract]

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

Other Current Liabilities

Other current liabilities consist of the following:

	September 30, 2014		December 31, 2013
Payroll related	$	11,889	$	8,680
Taxes other than income taxes	4,558		5,610
Benefits and pensions	6,651		7,240
Freight and rebates	3,792		3,960
Income taxes	8,166		4,368
Other	6,677		4,755
	$	41,733	$	34,613

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Pension Plans and Postretirement Benefits (Tables)

9 Months Ended

Sep. 30, 2014

UNITED STATES

Pension Plans and Postretirement Benefits [Line Items]

Schedule of Net Benefit Costs [Table Text Block]

Net periodic benefit expense for the United States plans:

	For the three months ended September 30, 2014									For the three months ended September 30, 2013
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits		Total
Service cost	$	—		$	78		$	78		$	—		$	91	$	91
Interest cost	30			44			74			27			40		67
Expected return on assets	(30		)	—			(30		)	(27		)	—		(27		)
Amortization of
prior service cost	—			—			—			—			—		—
unrecognized (gain) loss	—			(10		)	(10		)	14			—		14
Net periodic cost	$	—		$	112		$	112		$	14		$	131	$	145
	For the nine months ended September 30, 2014									For the nine months ended September 30, 2013
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits		Total
Service cost	$	—		$	234		$	234		$	—		$	273	$	273
Interest cost	91			131			222			81			121		202
Expected return on assets	(91		)	—			(91		)	(82		)	—		(82		)
Amortization of
prior service cost	—			—			—			—			—		—
unrecognized (gain) loss	—			(30		)	(30		)	42			—		42
Net periodic cost	$	—		$	335		$	335		$	41		$	394	$	435

CANADA

Pension Plans and Postretirement Benefits [Line Items]

Schedule of Net Benefit Costs [Table Text Block]

Net periodic benefit expense for the Canadian plans:

	For the three months ended September 30, 2014									For the three months ended September 30, 2013
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits			Total
Service cost	$	79		$	18		$	97		$	86		$	19		$	105
Interest cost	144			21			165			138			20			158
Expected return on assets	(234		)	—			(234		)	(223		)	—			(223		)
Amortization of
actuarial loss (gain)	25			4			29			78			9			87
prior service cost	24			—			24			25			—			25
net transition obligation	—			7			7			—			8			8
Exchange rate changes	329			(74		)	255			(18		)	4			(14		)
Net periodic cost	$	367		$	(24	)	$	343		$	86		$	60		$	146
	For the nine months ended September 30, 2014									For the nine months ended September 30, 2013
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits			Total
Service cost	$	238		$	52		$	290		$	263		$	58		$	321
Interest cost	431			64			495			420			61			481
Expected return on assets	(700		)	—			(700		)	(679		)	—			(679		)
Amortization of
actuarial loss (gain)	75			11			86			238			27			265
prior service cost	71			—			71			76			—			76
net transition obligation	—			21			21			—			23			23
Exchange rate changes	304			(68		)	236			186			(43		)	143
Net periodic cost	$	419		$	80		$	499		$	504		$	126		$	630

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Commitments and Contingencies (Details) (USD $)	9 Months Ended			1 Months Ended		12 Months Ended	3 Months Ended
	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014 Environmental [Member]	Oct. 31, 2009 Mexicana vs. Sudamfos Lawsuit [Member]	Oct. 31, 2008 Mexicana vs. Sudamfos Lawsuit [Member]	Dec. 31, 2009 Mexicana vs. Sudamfos Lawsuit [Member] t	Sep. 30, 2013 Louisiana sales and use tax [Member]	Sep. 30, 2014 Minimum [Member] Environmental [Member]	Sep. 30, 2014 Maximum [Member] Environmental [Member]	Sep. 30, 2014 Civil penalty [Member]
Loss Contingencies [Line Items]
Environmental Exit Costs, Anticipated Cost								$ 900,000	$ 1,200,000
Accrual for Environmental Loss Contingencies	1,100,000	1,100,000	1,100,000
Estimated Litigation Liability										900,000
Document Period End Date	Sep. 30, 2014
Loss Contingency, Damages Sought, Value					1,200,000		1,200,000
Phosphoric Acid						12,500
Loss Contingency, Damages Sought, Counter Lawsuit				$ 3,000,000

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Pension Plans and Postretirement Benefits

9 Months Ended

Sep. 30, 2014

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

Pension Plans and Postretirement Benefits

Net periodic benefit expense for the United States plans:

	For the three months ended September 30, 2014									For the three months ended September 30, 2013
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits		Total
Service cost	$	—		$	78		$	78		$	—		$	91	$	91
Interest cost	30			44			74			27			40		67
Expected return on assets	(30		)	—			(30		)	(27		)	—		(27		)
Amortization of
prior service cost	—			—			—			—			—		—
unrecognized (gain) loss	—			(10		)	(10		)	14			—		14
Net periodic cost	$	—		$	112		$	112		$	14		$	131	$	145
	For the nine months ended September 30, 2014									For the nine months ended September 30, 2013
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits		Total
Service cost	$	—		$	234		$	234		$	—		$	273	$	273
Interest cost	91			131			222			81			121		202
Expected return on assets	(91		)	—			(91		)	(82		)	—		(82		)
Amortization of
prior service cost	—			—			—			—			—		—
unrecognized (gain) loss	—			(30		)	(30		)	42			—		42
Net periodic cost	$	—		$	335		$	335		$	41		$	394	$	435

In April 2014, Innophos contributed approximately $0.2 million to its U.S. defined benefit pension plan to satisfy the full year 2014 minimum contribution requirements.

Innophos made its entire cash contribution of $2.9 million for the U.S. defined contribution plan during the first quarter of 2014 for the plan year 2013.

Net periodic benefit expense for the Canadian plans:

	For the three months ended September 30, 2014									For the three months ended September 30, 2013
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits			Total
Service cost	$	79		$	18		$	97		$	86		$	19		$	105
Interest cost	144			21			165			138			20			158
Expected return on assets	(234		)	—			(234		)	(223		)	—			(223		)
Amortization of
actuarial loss (gain)	25			4			29			78			9			87
prior service cost	24			—			24			25			—			25
net transition obligation	—			7			7			—			8			8
Exchange rate changes	329			(74		)	255			(18		)	4			(14		)
Net periodic cost	$	367		$	(24	)	$	343		$	86		$	60		$	146
	For the nine months ended September 30, 2014									For the nine months ended September 30, 2013
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits			Total
Service cost	$	238		$	52		$	290		$	263		$	58		$	321
Interest cost	431			64			495			420			61			481
Expected return on assets	(700		)	—			(700		)	(679		)	—			(679		)
Amortization of
actuarial loss (gain)	75			11			86			238			27			265
prior service cost	71			—			71			76			—			76
net transition obligation	—			21			21			—			23			23
Exchange rate changes	304			(68		)	236			186			(43		)	143
Net periodic cost	$	419		$	80		$	499		$	504		$	126		$	630

Innophos Canada, Inc. made cash contributions to its Canadian defined benefit plan of $0.4 million during the nine months ended September 30, 2014. Innophos Canada, Inc. does not plan to make any more cash contributions to its Canadian defined benefit plan during the remainder of 2014.

^[1]

[1] (a)The nine months ended September 30, 2013 includes a $7.2 million benefit to earnings related to updates to the provision for the CNA Fresh Water Claims in GTSP & Other.

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Dividends (Tables)

9 Months Ended

Sep. 30, 2014

Dividends [Abstract]

Schedule of Dividends Payable [Table Text Block]

The following is the dividend activity for the three and nine months ended September 30, 2014 and September 30, 2013:

	Three Months Ended				Nine Months Ended
	September 30				September 30
	2014		2013		2014		2013
Dividends declared – per share	$	0.48	$	0.35	$	1.28	$	1.05
Dividends declared – aggregate	10,477		7,694		28,022		23,020
Dividends paid – per share	0.48		0.35		1.28		1.05
Dividends paid – aggregate	10,477		7,694		28,022		23,020

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Other Long-Term Liabilities (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Liabilities, Other than Long-term Debt, Noncurrent [Abstract]
Deferred income taxes	$ 30,879	$ 32,110
Pension and post retirement liabilities	10,844	11,175
Environmental liabilities	1,100	1,100
Other liabilities	3,915	1,523
Other Liabilities, Noncurrent	$ 46,738	$ 45,908

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Share-Based Compensation (Details) (USD $)	1 Months Ended	3 Months Ended		9 Months Ended	12 Months Ended			3 Months Ended
	May 31, 2014 BoardMembers	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014 Minimum [Member]	Sep. 30, 2014 Maximum [Member]	Mar. 31, 2014 Stock Options [Member]	Mar. 31, 2014 Performance Share Awards [Member]	Mar. 31, 2014 Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Repurchased During Period, Shares		137,781	112,002
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures								76,720	44,321	26,574
Share Based Compensation Arrangement By Share Based Payment Award, Range of Shares, Minimum						0
Share Based Compensation Arrangement By Share Based Payment Award, Range of Shares as Caluclated Using Performance Indicators, Maximum							200.00%
Stock Granted During Period, Value, Share-based Compensation, Gross	$ 300,000							$ 1,500,000	$ 2,500,000	$ 1,500,000
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term				6 years				3 years		3 years
External Members of the Board of Directors	5
Shares owned by external directors	5,145
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value				$ 20.15				$ 55.49		$ 55.49
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date								Mar. 28, 2024
Treasury Stock Acquired, Average Cost Per Share		$ 58.09	$ 55.16
Stock Repurchased During Period, Value		$ 8,000,000	$ 6,200,000	$ (14,182,000)	$ (7,118,000)

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Condensed Consolidated Statements of Comprehensive Income (Unaudited) Condensed Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) In Thousands, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax	$ 220	$ (213)	$ (48)	$ 700
Other Comprehensive Income (Loss) Pension and Post-Retirement Plans Tax Effect Period Increase Decrease	$ 47	$ 4	$ 67	$ 258

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Earnings Per Share (EPS)

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share (EPS)

Earnings per share (EPS)

The Company accounts for earnings per share in accordance with ASC 260 and related guidance, which requires two calculations of earnings per share (EPS) to be disclosed: basic EPS and diluted EPS. Under ASC Subtopic 260-10-45, as of January 1, 2009 unvested awards of share-based payments with rights to receive dividends or dividend equivalents, such as our restricted stock, are considered participating securities for purposes of calculating EPS. Under the two-class method, a portion of net income is allocated to these participating securities and therefore is excluded from the calculation of EPS allocated to common stock, as shown in the table below.

The numerator for basic and diluted earnings per share is net earnings attributable to shareholders reduced by dividends attributable to unvested shares. The denominator for basic earnings per share is the weighted average number of common stock outstanding during the period. The denominator for diluted earnings per share is weighted average shares outstanding adjusted for the effect of dilutive outstanding stock options, performance share awards and restricted stock awards.

The following is a reconciliation of the weighted average basic number of common shares outstanding to the diluted number of common and common stock equivalent shares outstanding and the calculation of earnings per share using the two-class method:

	Three Months Ended						Nine Months Ended
	September 30, 2014			September 30, 2013			September 30, 2014			September 30, 2013
Net income	$	18,320		$	10,940		$	53,133		$	34,910
Less: earnings attributable to unvested shares	(39		)	(16		)	(112		)	(54		)
Net income available to participating common shareholders	$	18,281		$	10,924		$	53,021		$	34,856
Weighted average number of participating common and potential common shares outstanding:
Basic number of participating common shares outstanding	21,741,050			21,947,948			21,826,771			21,932,814
Dilutive effect of stock equivalents	387,093			375,757			378,143			390,173
Diluted number of weighted average participating common shares outstanding	22,128,143			22,323,705			22,204,914			22,322,987
Earnings per participating common share:
Earnings per participating common share—Basic	$	0.84		$	0.50		$	2.43		$	1.59
Earnings per participating common share—Diluted	$	0.83		$	0.49		$	2.39		$	1.56
Total outstanding options, performance share awards and unvested restricted stock not included in the calculation of diluted earnings per share as the effect would be anti-dilutive	321,102			396,952			330,052			382,503

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Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2014

Share-based Compensation [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]

The following table summarizes the components of stock-based compensation expense, all of which has been classified as selling, general and administrative expense:

	Three Months Ended					Nine Months Ended
	September 30, 2014		September 30, 2013			September 30, 2014		September 30, 2013
Stock options	$	241	$	73		$	1,056	$	772
Restricted stock	273		169			830		517
Performance shares	199		(227		)	532		177
Stock grants	—		—			270		300
Total share-based compensation expense	$	713	$	15		$	2,688	$	1,766

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The fair value of the options granted during 2014 was determined using the Black-Scholes option-pricing model. The assumptions used in the Black-Scholes option-pricing model were as follows:

Non-qualified stock options
Expected volatility	50.1		%
Dividend yield	3.2		%
Risk-free interest rate	2.0		%
Expected term (years)	6
Weighted average grant date fair value of stock options	$	20.15

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Basis of Statement Presentation Basis of Statement Presentation (Details) (USD $) In Millions, unless otherwise specified	6 Months Ended	9 Months Ended
	Jun. 30, 2013	Sep. 30, 2013
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Prior Period Reclassification Adjustment	$ 1.6
Cost of Sales [Member]
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Prior Period Reclassification Adjustment	$ 2.3	$ 2.3

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Commitments and Contingencies

9 Months Ended

Sep. 30, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments And Contingencies Disclosure [Text Block]

Commitments and Contingencies

Environmental

The Company's operations are subject to extensive and changing federal and state environmental laws and regulations. The Company's manufacturing sites have an extended history of industrial use, and soil and groundwater contamination have or may have occurred in the past and might occur or be discovered in the future.

Environmental efforts are difficult to assess for numerous reasons, including the discovery of new remedial sites, discovery of new information and scarcity of reliable information pertaining to certain sites, improvements in technology, changes in environmental laws and regulations, numerous possible remedial techniques and solutions, difficulty in assessing the involvement of and the financial capability of other potentially responsible parties and the extended time periods over which remediation occurs. Other than the items listed below, the Company is not aware of material environmental liabilities which are probable and estimable. As the Company's environmental contingencies are more clearly determined, it is reasonably possible that amounts may need to be accrued. However, management does not believe, based on current information, that environmental remediation requirements will have a material impact on the Company's results of operations, financial position or cash flows.

Future environmental spending is probable at our site in Nashville, TN, the eastern portion of which had been used historically as a landfill, and a western parcel previously acquired from a third party, which reportedly had housed, but no longer does, a fertilizer and pesticide manufacturing facility. We have an estimated liability with a range of $0.9 million-$1.2 million. The remedial action plan for that site has yet to be finalized, and as such, the Company has recorded a liability, which represents the Company's best estimate, of $1.1 million as of September 30, 2014.

Litigation

2008 RCRA Civil Enforcement - Geismar, Louisiana plant

Following several inspections by the Environmental Protection Agency, or EPA, at our Geismar, LA purified phosphoric acid, or PPA, plant and related submissions we made to support claimed exemptions from the federal Resource, Conservation and Recovery Act, or RCRA, in March 2008, EPA referred our case to the Department of Justice, or DOJ, for civil enforcement. Although no citations were ever issued or formal proceedings instituted, the agencies claim we violate RCRA by failing to manage appropriately two materials that DOJ/EPA alleges are hazardous wastes. Those materials are: (i) Filter Material from an enclosed intermediate filtration step to further process green phosphoric acid we receive as raw material via pipeline from the adjacent site operated by an affiliate of Potash Corporation of Saskatchewan, or PCS; and (ii) Raffinate, a co-product we return to PCS under a long-term contract we have with PCS.

Since referral of the case to DOJ, we and PCS have engaged in periodic discussions with DOJ/EPA and the Louisiana Department of Environmental Quality, or LDEQ, or collectively the Government Parties, in order to resolve the matter. In addition to asserting that the two materials in question are not hazardous wastes, we have also sought to demonstrate that both the nature and character of the materials as well as their use, handling and disposition were detailed in a solid waste permit amendment application filed in 1989 by PCS's predecessor, when our plant was first constructed, and approved by the LDEQ under the state RCRA program.

In the course of discussions with the Government Parties, the DOJ/EPA has required that we undertake, as an interim measure, the construction of a new filter unit to replace the closed system and allow the removal and separate handling of the Filter Material. We built that unit, which has been operating since 2012.

In an attempt to address the remaining concerns of the Government Parties, we and PCS undertook joint efforts to explore possible technical solutions to the issue of Raffinate treatment. Based upon work so far, there appears to be at least one technically viable approach, namely that of “deep well injection,” which we believe is acceptable to regulators as part of a negotiated solution among the parties.

Although we cannot give assurances as to the future course or ultimate outcome of ongoing negotiations, including whether litigation may ultimately ensue, we believe, based on our appreciation of the current state of the proceedings, that deep well injection is likely to be employed as the technologically acceptable approach for Raffinate and that we will not be asked to contribute substantially to the cost of the deep well to be specified by the Government Parties in an anticipated consent decree for settlement of this enforcement matter. However, in negotiated settlements leading to consent decrees with the Governmental Parties, it is also common for penalties relating to previous “non-compliance” to be assessed and, in that connection, we have been advised by the Governmental Parties that they expect to seek penalties against both PCS and us in this case. Although we have argued and made submissions to the effect that for purposes of settlement penalties there is no basis for any substantial penalty to be levied against us, nevertheless, we can give no assurance as to that outcome, or if a penalty is initially assessed as to its amount, or whether it will be necessary for us to oppose or seek indemnity for the assessment by further litigation. Based upon our receipt of a draft consent decree from the Government Parties in June 2014 and subsequent discussions with them, we have established an accrual of $0.9 million for settlement civil penalties. However, further discussions among all parties will be necessary to determine if the matter can be resolved by settlement.

Other Legal Matters

In March 2008, Sudamfos S.A., or Sudamfos, an Argentine phosphate producer, filed an arbitration before the ICC International Court of Arbitration, Paris, France, concerning an alleged agreement for our Mexicana subsidiary, Mexicana, to sell it 12,500 metric tons of phosphoric acid, but subsequently withdrew the proceeding. In October 2008, Mexicana filed suit in Mexico against Sudamfos to collect approximately $1.2 million representing the contract price for prior deliveries of phosphoric acid for which Sudamfos had refused to pay. In October 2009, Sudamfos answered the suit and counterclaimed for $3.0 million based upon the agreement originally alleged in the arbitration. In subsequent proceedings including available appeals, Mexicana's claim was sustained and Sudamfos' counterclaim was denied. Mexicana has now begun formal collection proceedings against Sudamfos.

In July 2013, Innophos, Inc. was assessed approximately $1.2 million of sales/use taxes by the State of Louisiana and Ascension Parish. This tax assessment covers certain raw materials used in the production of Phosphoric Acid. The Company is contesting both tax assessments. This assessment covers periods 2004 to 2010 for the Parish and 2007 to 2010 for the State. We have concluded that the contingent liability arising from this matter is neither remote nor probable, but reasonably possible.

In addition, we are party to legal proceedings and contractual disputes that arise in the ordinary course of our business. Except as to the matters specifically discussed, management believes that these matters represent remote liabilities. However, these matters cannot be predicted with certainty and an unfavorable resolution of one or more of them could have a material adverse effect on our business, results of operations, financial condition, and/or cash flows.