Revenue from Contracts with Customers

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

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 18 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	• Refining catalysts
	• Emission control catalysts
	• Catalyst recycling services
	• Silicate for catalyst manufacturing
Packaging & engineered plastics	• Catalysts for high-density polyethlene and chemicals syntheses
	• Antiblock 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 and nine months ended September 30, 2020 and 2019:

	Three months ended September 30, 2020
	Refining Services		Catalysts		Performance Materials		Performance Chemicals		Total
Industrial & process chemicals	$	17,447	$	51	$	11,134	$	47,786	$	76,418
Fuels & emission control(1)	60,022		—		—		700		60,722
Packaging & engineered plastics	10,941		23,020		15,438		11,987		61,386
Highway safety & construction(1)	—		—		74,672		19,553		94,225
Consumer products	—		—		—		56,304		56,304
Natural resources	19,194		—		3,330		12,183		34,707
Total segment sales	107,604		23,071		104,574		148,513		383,762
Eliminations	(764)		(51)		(57)		(2,571)		(3,443)
Total	$	106,840	$	23,020	$	104,517	$	145,942	$	380,319
	Three months ended September 30, 2019
	Refining Services		Catalysts		Performance Materials		Performance Chemicals		Total
Industrial & process chemicals	$	20,180	$	47	$	12,225	$	54,696	$	87,148
Fuels & emission control(1)	70,048		—		—		—		70,048
Packaging & engineered plastics	12,197		25,565		16,886		12,048		66,696
Highway safety & construction(1)	—		—		82,502		20,800		103,302
Consumer products	—		—		—		64,849		64,849
Natural resources	15,910		—		3,521		15,556		34,987
Total segment sales	118,335		25,612		115,134		167,949		427,030
Eliminations	(813)		(47)		(18)		(2,351)		(3,229)
Total	$	117,522	$	25,565	$	115,116	$	165,598	$	423,801

	Nine months ended September 30, 2020
	Refining Services		Catalysts		Performance Materials		Performance Chemicals		Total
Industrial & process chemicals	$	53,518	$	100	$	32,571	$	151,367	$	237,556
Fuels & emission control(1)	166,416		—		3		700		167,119
Packaging & engineered plastics	29,147		73,043		46,554		35,814		184,558
Highway safety & construction(1)	—		—		185,733		58,054		243,787
Consumer products	—		—		—		180,238		180,238
Natural resources	49,646		—		9,485		39,260		98,391
Total segment sales	298,727		73,143		274,346		465,433		1,111,649
Eliminations	(2,469)		(100)		(166)		(7,472)		(10,207)
Total	$	296,258	$	73,043	$	274,180	$	457,961	$	1,101,442
	Nine months ended September 30, 2019
	Refining Services		Catalysts		Performance Materials		Performance Chemicals		Total
Industrial & process chemicals	$	60,485	$	109	$	38,037	$	175,009	$	273,640
Fuels & emission control(1)	191,243		—		—		—		191,243
Packaging & engineered plastics	38,953		62,226		51,863		41,121		194,163
Highway safety & construction(1)	—		—		195,119		65,036		260,155
Consumer products	—		—		—		198,798		198,798
Natural resources	50,788		—		10,076		46,275		107,139
Total segment sales	341,469		62,335		295,095		526,239		1,225,138
Eliminations	(2,595)		(109)		(170)		(7,567)		(10,441)
Total	$	338,874	$	62,226	$	294,925	$	518,672	$	1,214,697

(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 September 30, 2020 and December 31, 2019.

The Company recognized a $11,486 contract liability associated with the sale of its magnesium silicate product line in July 2020, of which $10,785 of deferred revenue remained as of September 30, 2020. The Company recognized revenue of $806 related to this contract liability during the three and nine months ended September 30, 2020. Refer to Note 7 of these condensed consolidated financial statements for additional information related to the sale of the product line.

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 $3,105 and $6,450 of deferred revenue remained as of September 30, 2020 and December 31, 2019, respectively. The Company recognized revenue of $1,035 and $3,339 related to this contract liability during the three and nine months ended September 30, 2020. The Company recognized revenue of $1,035 related to this contract liability during the three and nine months ended September 30, 2019. Refer to Note 7 of these condensed consolidated financial statements for additional information related to the sale of the product line.