Segment Reporting

3 Months Ended

Mar. 31, 2017

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 EBITDA (defined as net income (loss) before interest, income taxes, depreciation and amortization). All references to sales in this Quarterly Report on Form 10-Q 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 chief executive officer is the chief operating decision maker and, as of the first quarter of 2017, has determined to assess the Company's performance and allocate the appropriate resources based on the following operating segments: (1) Food, Health and Nutrition, (2) Industrial Specialties and (3) Other. The new reporting segments accurately reflect the underlying business dynamics and align with the strategic direction of the Company. Prior to the first quarter of 2017, the reporting segments were (1) Specialty Phosphates US & Canada, (2) Specialty Phosphates Mexico and (3) GTSP & Other, versus the current market driven view.

For the three months ended March 31, 2017	Food, Health & Nutrition		Industrial Specialties		Other		Total
Sales	$	91,083	$	63,672	$	11,189	$	165,944
EBITDA	$	15,624	$	9,521	$	898	$	26,043
Depreciation and amortization expense	$	5,722	$	3,372	$	487	$	9,581
For the three months ended March 31, 2016	Food, Health & Nutrition		Industrial Specialties		Other		Total
Sales	$	98,412	$	74,555	$	16,663	$	189,630
EBITDA	$	19,933	$	9,561	$	1,312	$	30,806
Depreciation and amortization expense	$	4,791	$	3,059	$	1,432	$	9,282

A reconciliation of net income to EBITDA follows:

	Three months ended
	March 31, 2017		March 31, 2016
Net income	$	10,923	$	12,842
Provision for income taxes	4,186		6,883
Interest expense, net	1,353		1,799
Depreciation and amortization	9,581		9,282
EBITDA	$	26,043	$	30,806