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Segment Reporting
 9 Months Ended
Sep. 30, 2019
Segment Reporting [Abstract]  
Segment Reporting 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 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. These reporting segments accurately reflect the underlying business dynamics and align with the strategic direction of the Company.

During the second quarter of 2019, the Company adjusted the EBITDA allocation for certain transactions to align it with the underlying business. As a result, EBITDA in the Other segment decreased by $1.4 million with corresponding increases to Food, Health and Nutrition of $1.0 million and Industrial Specialties of $0.4 million.
Three months ended September 30, 2019
 
Food, Health and Nutrition
 
Industrial Specialties
 
Other
 
Total
Net sales
 
$
105,174


$
73,141


$
11,034


$
189,349

EBITDA
 
$
14,791


$
8,861


$
792


$
24,444

Depreciation and amortization expense
 
$
6,959


$
3,768


$
403


$
11,130

 
 
 
 
 
 
 
 
 
Three months ended September 30, 2018
 
Food, Health and Nutrition
 
Industrial Specialties
 
Other
 
Total
Net sales
 
$
115,132

 
$
65,667

 
$
16,135

 
$
196,934

EBITDA
 
$
14,563

 
$
8,885

 
$
2,424

 
$
25,872

Depreciation and amortization expense
 
$
7,142

 
$
3,153

 
$
569

 
$
10,864

 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2019
 
Food, Health and Nutrition
 
Industrial Specialties
 
Other
 
Total
Net sales
 
$
326,783

 
$
204,064

 
$
34,954

 
$
565,801

EBITDA
 
$
48,758

 
$
23,891

 
$
3,833

 
$
76,482

Depreciation and amortization expense
 
$
20,128

 
$
10,714

 
$
934

 
$
31,776

 
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2018
 
Food, Health and Nutrition
 
Industrial Specialties
 
Other
 
Total
Net sales
 
$
367,159

 
$
195,767

 
$
46,173

 
$
609,099

EBITDA
 
$
48,494

 
$
26,772

 
$
2,987

 
$
78,253

Depreciation and amortization expense
 
$
21,677

 
$
10,257

 
$
1,383

 
$
33,317


A reconciliation of net income to EBITDA follows:
 
 
Three months ended
 
 
September 30,
2019
 
September 30,
2018
Net income
 
$
6,451

 
$
14,090

Provision for income taxes
 
2,873

 
(2,510
)
Interest expense, net
 
3,990

 
3,428

Depreciation and amortization
 
11,130

 
10,864

EBITDA
 
$
24,444

 
$
25,872

 
 
 
 
 
 
 
Nine months ended
 
 
September 30,
2019
 
September 30,
2018
Net income
 
$
16,546

 
$
31,251

Provision for income taxes
 
16,580

 
4,155

Interest expense, net
 
11,580

 
9,530

Depreciation and amortization
 
31,776

 
33,317

EBITDA
 
$
76,482

 
$
78,253