Investments in Affiliated Companies (Tables)

6 Months Ended

Jun. 30, 2020

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments

The Company accounts for investments in affiliated companies under the equity method. Affiliated companies accounted for on the equity basis as of June 30, 2020 are as follows:

Company	Country	Percent Ownership
PQ Silicates Ltd.	Taiwan	50%
Zeolyst International	USA	50%
Zeolyst C.V.	Netherlands	50%
Asociacion para el Estudio de las Tecnologias de Equipamiento de Carreteras, S.A. (“Aetec”)	Spain	20%

Following is summarized information of the combined investments⁽¹⁾: 

	Three months ended June 30,				Six months ended June 30,
	2020		2019		2020		2019
Sales	$	88,161	$	89,938	$	159,368	$	158,032
Gross profit	34,470		35,137		65,609		54,551
Operating income	24,688		27,052		45,697		36,259
Net income	26,333		27,910		46,368		37,150

⁽¹⁾Summarized information of the combined investments is presented at 100%; the Company’s share of the net assets and net income of affiliates is calculated based on the percent ownership specified in the table above.