Reporting For Segments

9 Months Ended

Sep. 30, 2020

Reporting For Segments [Abstract]

Reporting For Segments

19.    Reporting for Segments

As discussed in Note 4, during the fourth quarter of 2019, we entered into a definitive agreement to sell our Tile Coatings business which has historically been the majority of our Performance Coatings reportable segment. Substantially all of the assets and liabilities of our Tile Coatings business were classified as held-for-sale in the accompanying consolidated balance sheets and results are included within discontinued operations in the consolidated statement of operations for all periods presented. The retained assets, liabilities and operations of the Performance Coatings reportable segment are reflected within our Functional Coatings reportable segment.

Net sales to external customers by segment are presented in the table below. Sales between segments were not material.

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2020		2019		2020		2019
Functional Coatings	$	154,218	$	154,744	$	441,325	$	485,462
Color Solutions		87,659		90,595		257,679		284,217
Total net sales	$	241,877	$	245,339	$	699,004	$	769,679

Each segment’s gross profit and reconciliation to income before income taxes are presented in the table below:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands)	2020		2019		2020		2019
Functional Coatings	$	41,906	$	47,275	$	125,842	$	144,812
Color Solutions		28,450		29,122		89,222		87,220
Other cost of sales		(190)		(335)		(416)		1,019
Total gross profit		70,166		76,062		214,648		233,051
Selling, general and administrative expenses		47,820		47,543		154,407		157,723
Restructuring and impairment charges		2,447		2,065		12,231		7,862
Other expense, net		5,305		6,377		14,113		21,681
Income before income taxes	$	14,594	$	20,077	$	33,897	$	45,785