Note 19 - Segment Information

3 Months Ended

12 Months Ended

Mar. 31, 2014

Dec. 31, 2013

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

17.  SEGMENT INFORMATION

The Company’s operations are organized into two reportable segments: Performance Materials and Graphic Solutions.  The segments represent businesses for which separate financial information is utilized by the chief operating decision maker (the “CODM”) for purpose of allocating resources and evaluating performance. Each of the reportable segments has its own president who report to the CODM.

The Performance Materials segment manufactures and markets dynamic chemistry solutions that are used in the electronics, automotive and oil and gas production and drilling industries. Its products include surface and coating materials and water-based hydraulic control fluids. In conjunction with the sale of these products, we provide extensive technical service and support to ensure superior performance of their application. Within the Performance Materials segment, the Company has two primary categories of products. Industrial products are materials used to improve the performance or look of a component of an industrial part or process.  Electronic products are materials used to manufacture and improve the performance of circuit boards and similar electronic items.

The Graphic Solutions segment primarily produces and markets photopolymers through an extensive line of flexographic plates that are used in the commercial packaging and printing industries. The Company evaluates the performance of its segments based on net sales and operating profit. Operating profit for each segment includes net sales to third parties, related cost of sales and operating expenses directly attributable to the segment. Operating profit for each segment includes an allocation of corporate costs such as corporate salary and wages, equity compensation expense and legal costs.

The following table summarizes financial information regarding each reportable segment’s results of operations for the periods presented:

	For the three months ended March 31, 2014			For the three months ended March 31, 2013
	(Successor)			(Predecessor)
Net Sales:
Performance Materials	$	143,111		$	138,824
Graphic Solutions		40,615			43,308
Consolidated net sales		183,726			182,132
Operating (loss) profit:
Performance Materials		8,839			21,447
Graphic Solutions		(4,847	)		8,329
Consolidated operating profit	$	3,992		$	29,776

19.  SEGMENT INFORMATION

The Company’s operations are organized into two reportable segments: Performance Materials and Graphic Solutions. The segments represent businesses for which separate financial information is utilized by the chief operating decision maker (the “CODM”) for purpose of allocating resources and evaluating performance. Each of the reportable segments has its own president who report to the CODM.

The Performance Materials segment manufactures and markets dynamic chemistry solutions that are used in the electronics, automotive and oil and gas production and drilling industries. Its products include surface and coating materials and water-based hydraulic control fluids. In conjunction with the sale of these products, we provide extensive technical service and support to ensure superior performance of their application. Within the Performance Materials segment, the Company has two primary categories of products. Industrial products are materials used to improve the performance or look of a component of an industrial part or process. Electronic products are materials used to manufacture and improve the performance of circuit boards and similar electronic items.

The Graphic Solutions segment primarily produces and markets photopolymers through an extensive line of flexographic plates that are used in the commercial packaging and printing industries. The Company evaluates the performance of its operating segments based on net sales and operating profit. Operating profit for each segment includes net sales to third parties, related cost of sales and operating expenses directly attributable to the segment. Operating profit for each segment includes an allocation of corporate costs such as corporate salary and wages, equity compensation expense and legal costs.

Segment assets include cash, prepaid expenses, receivables, inventories, capital assets, goodwill, intangible assets, deferred taxes and other long term assets. Segment assets exclude corporate assets, which consist primarily of cash and cash equivalents, corporate property, plant and equipment, goodwill and other intangible assets.

The following table summarizes financial information regarding each reportable segment’s results of operations for the periods presented:

	For the period from inception (April 23, 2013) through December 31, 2013			For the ten months ended October 31, 2013		For the year ended December 31, 2012		For the year ended December 31, 2011
	(Successor)			(Predecessor)		(Predecessor)		(Predecessor)
Net Sales:
Performance Materials	$	92,671		$	481,823	$	559,520	$	568,578
Graphic Solutions		25,568			145,889		171,700		160,195
Consolidated net sales		118,239			627,712		731,220		728,773
Depreciation and amortization:
Performance Materials		9,698			26,520		33,965		37,827
Graphic Solutions		3,080			6,315		8,228		8,918
Consolidated depreciation and amortization		12,778			32,835		42,193		46,745
Operating (loss) profit:
Performance Materials		(109,043	)		73,588		82,101		30,331
Graphic Solutions		(86,589	)		18,161		32,996		25,617
Consolidated operating (loss) profit	$	(195,632	)	$	91,749	$	115,097	$	55,948

F-47

Total assets by reportable segment as of December 31, 2013 (Successor) and December 31, 2012 (Predecessor) were as follows:

	December 31, 2013		December 31, 2012
	(Successor)		(Predecessor)
Performance Materials	$	1,260,840	$	665,354
Graphic Solutions		803,446		421,402
Corporate/ Unallocated		177,602		147,161
Total consolidated assets	$	2,241,888	$	1,233,917

The following tables provide information for those countries that represent 10 percent or more of net sales and long-lived assets:

	For the period from inception (April 23, 2013) through December 31, 2013		For the ten months ended October 31, 2013		For the year ended December 31, 2012		For the year ended December 31, 2011
	(Successor)		(Predecessor)		(Predecessor)		(Predecessor)
Net Sales*:
United States	$	31,506	$	176,390	$	205,567	$	187,480
Foreign Net Sales:
United Kingdom		17,756		93,395		115,160		113,129
China		13,524		64,179		66,294		72,763
Other countries		55,453		293,748		344,199		355,401
Total Foreign Net Sales		86,733		451,322		525,653		541,293
Total consolidated net sales	$	118,239	$	627,712	$	731,220	$	728,773

* Net sales are attributed to countries based on the country which generates the sale.

	December 31, 2013		December 31, 2012
	(Successor)		(Predecessor)
Long lived assets, net (1):
United States	$	57,267	$	39,818
Foreign countries
United Kingdom		30,649		21,463
Italy		13,687		14,266
China		17,162		8,766
Other countries		20,905		16,078
		82,403		60,573
Total long lived assets, net	$	139,670	$	100,391

(1)Long-lived assets represent property, plant and equipment, net.

F-48

The following table shows the Company's external party sales by product for the periods presented:

	For the period from inception (April 23, 2013) through December 31, 2013		For the ten months ended October 31, 2013		For the year ended December 31, 2012		For the year ended December 31, 2011
	(Successor)		(Predecessor)		(Predecessor)		(Predecessor)
Performance Materials
Industrial Group	$	67,807	$	353,397	$	411,091	$	409,251
Electronics Group		24,864		128,426		148,429		159,327
		92,671		481,823		559,520		568,578
Graphic Solutions		25,568		145,889		171,700		160,195
Total consolidated net sales	$	118,239	$	627,712	$	731,220	$	728,773