Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

3. Revenue from Contracts with Customers:

Disaggregated Revenue

The Company’s primary means of disaggregating revenues is by reportable segments, which can be found in Note 17 to these condensed consolidated financial statements.

The Company’s portfolio of products are integrated into a variety of end uses, which are described in the table below.


Key End Uses			Key Products
Industrial & process chemicals			• Silicate precursors for the tire industry
			• Glass beads, or microspheres, for metal finishing end uses
Fuels & emission control			• Refinery catalysts
			• Emission control catalysts
			• Catalyst recycling services
			• Silicate for catalyst manufacturing
Packaging & engineered plastics			• Catalysts for high-density polyethlene and chemicals syntheses
			• Antiblocks for film packaging
			• Solid and hollow microspheres for composite plastics
			• Sulfur derivatives for nylon production
Highway safety & construction			• Reflective markings for roadways and airports
			• Silica gels for surface coatings
Consumer products			• Silica gels for edible oil and beer clarification
			• Precipitated silicas, silicates and zeolites for the dentifrice and
			dishwasher and laundry detergent applications
Natural resources			• Silicates for drilling muds
			• Hollow glass beads, or microspheres, for oil well cements
			• Silicates and alum for water treatment mining
			• Bleaching aids for paper

The following tables disaggregate the Company’s sales, by segment and end use, for the three months ended March 31, 2020 and 2019:














	Three months ended March 31, 2020
	Refining Services		Catalysts		Performance Materials		Performance Chemicals		Total
Industrial & process chemicals	$	19,359	$	47	$	12,123	$	59,833	$	91,362
Fuels & emission control ⁽¹⁾	55,710		—		40		—		55,750
Packaging & engineered plastics	10,734		24,817		17,471		14,275		67,297
Highway safety & construction ⁽¹⁾	—		—		32,643		20,190		52,833
Consumer products	—		—		—		64,026		64,026
Natural resources	14,887		—		3,292		15,955		34,134
Total segment sales	100,690		24,864		65,569		174,279		365,402
Eliminations	(925)		(47)		(54)		(2,778)		(3,804)
Total	$	99,765	$	24,817	$	65,515	$	171,501	$	361,598














	Three months ended March 31, 2019
	Refining Services		Catalysts		Performance Materials		Performance Chemicals		Total
Industrial & process chemicals	$	18,402	$	276	$	13,028	$	59,652	$	91,358
Fuels & emission control ⁽¹⁾	57,690		—		—		—		57,690
Packaging & engineered plastics	12,689		15,590		17,382		14,730		60,391
Highway safety & construction ⁽¹⁾	—		—		27,360		21,938		49,298
Consumer products	—		—		—		68,509		68,509
Natural resources	17,063		—		3,319		15,633		36,015
Total segment sales	105,844		15,866		61,089		180,462		363,261
Eliminations	(887)		(276)		(48)		(2,829)		(4,040)
Total	$	104,957	$	15,590	$	61,041	$	177,633	$	359,221

⁽¹⁾ As described in Note 1, the Company experiences seasonal sales fluctuations to customers in the fuels & emission control and highway safety & construction end uses.

Contract Assets and Liabilities

A contract asset is a right to consideration in exchange for goods that the Company has transferred to a customer when that right is conditional on something other than the passage of time. A contract liability exists when the Company receives consideration in advance of performance obligations. The Company has no contract assets on its condensed consolidated balance sheets as of March 31, 2020 and December 31, 2019.

The Company recognized a $9,000 contract liability associated with the sale of a portion of its sulfate salts product line in June 2019, of which $5,175 and $6,450 of deferred revenue remained as of March 31, 2020 and December 31, 2019, respectively. The Company recognized revenue of $1,269 related to this contract liability during the three months ended March 31, 2020. The Company did not recognize revenue related to this contract liability during the three months ended March 31, 2019.