Financial Information by Segment (Tables)

3 Months Ended

Mar. 31, 2020

Segment Reporting [Abstract]

Schedule of the Relative Size of Revenue Recognized in each Reportable Segment

The following table shows the percent of revenue recognized in each of the Company’s reportable segment:

	Three Months Ended March 31,
	2020		2019
Rubber	64	%	66	%
Specialty	36	%	34	%

Schedule of Segment Reconciliation

Segment reconciliation for the three months ended March 31, 2020 and 2019:

	Rubber		Specialties		Corporate		Total segments
	(In thousands)
2020
Net sales from external customers	$	216,228	$	119,779	$	—	$	336,007
Adjusted EBITDA	$	35,768	$	28,076	$	—	$	63,844
Corporate charges	—		—		(2,323)		(2,323)
Depreciation and amortization of intangible assets and property, plant and equipment	(15,293)		(8,552)		—		(23,845)
Excluding equity in earnings of affiliated companies, net of tax	(133)		—		—		(133)
Income from operations before income tax expense and finance costs	20,342		19,524		(2,323)		37,543
Interest and other financial expense, net	—		—		(9,610)		(9,610)
Reclassification of actuarial losses from AOCI	—		—		(2,398)		(2,398)
Income tax expense	—		—		(7,635)		(7,635)
Equity in earnings of affiliated companies, net of tax	133		—		—		133
Net income							$	18,032
2019
Net sales from external customers	$	253,128	$	131,586	$	—	$	384,714
Adjusted EBITDA	$	35,165	$	29,402	$	—	$	64,567
Corporate charges	—		—		(5,636)		(5,636)
Depreciation and amortization of intangible assets and property, plant and equipment	(13,765)		(10,330)		—		(24,095)
Excluding equity in earnings of affiliated companies, net of tax	(137)		—		—		(137)
Income from operations before income tax expense and finance costs	21,263		19,072		(5,636)		34,699
Interest and other financial expense, net	—		—		(6,443)		(6,443)
Reclassification of actuarial losses from AOCI	—		—		—		—
Income tax expense	—		—		(9,439)		(9,439)
Equity in earnings of affiliated companies, net of tax	137		—		—		137
Net income							$	18,954

Income from operations before income taxes and finance costs of the segment 'Corporate and other' comprises the following:

	Three Months Ended March 31,
	2020		2019
	(In thousands)
Restructuring expenses/(income)	$	—	$	89
Consulting fees related to Company strategy	—		916
Long Term Incentive Plan	(1,139)		3,553
EPA-related expense	2,589		718
Other non-operating	873		360
Expense from operations before income taxes and finance costs	$	2,323	$	5,636

Schedule of Income from Operations, Corporate and Other Segment

Segment reconciliation for the three months ended March 31, 2020 and 2019:

	Rubber		Specialties		Corporate		Total segments
	(In thousands)
2020
Net sales from external customers	$	216,228	$	119,779	$	—	$	336,007
Adjusted EBITDA	$	35,768	$	28,076	$	—	$	63,844
Corporate charges	—		—		(2,323)		(2,323)
Depreciation and amortization of intangible assets and property, plant and equipment	(15,293)		(8,552)		—		(23,845)
Excluding equity in earnings of affiliated companies, net of tax	(133)		—		—		(133)
Income from operations before income tax expense and finance costs	20,342		19,524		(2,323)		37,543
Interest and other financial expense, net	—		—		(9,610)		(9,610)
Reclassification of actuarial losses from AOCI	—		—		(2,398)		(2,398)
Income tax expense	—		—		(7,635)		(7,635)
Equity in earnings of affiliated companies, net of tax	133		—		—		133
Net income							$	18,032
2019
Net sales from external customers	$	253,128	$	131,586	$	—	$	384,714
Adjusted EBITDA	$	35,165	$	29,402	$	—	$	64,567
Corporate charges	—		—		(5,636)		(5,636)
Depreciation and amortization of intangible assets and property, plant and equipment	(13,765)		(10,330)		—		(24,095)
Excluding equity in earnings of affiliated companies, net of tax	(137)		—		—		(137)
Income from operations before income tax expense and finance costs	21,263		19,072		(5,636)		34,699
Interest and other financial expense, net	—		—		(6,443)		(6,443)
Reclassification of actuarial losses from AOCI	—		—		—		—
Income tax expense	—		—		(9,439)		(9,439)
Equity in earnings of affiliated companies, net of tax	137		—		—		137
Net income							$	18,954

Income from operations before income taxes and finance costs of the segment 'Corporate and other' comprises the following:

	Three Months Ended March 31,
	2020		2019
	(In thousands)
Restructuring expenses/(income)	$	—	$	89
Consulting fees related to Company strategy	—		916
Long Term Incentive Plan	(1,139)		3,553
EPA-related expense	2,589		718
Other non-operating	873		360
Expense from operations before income taxes and finance costs	$	2,323	$	5,636