Reporting for Segments

6 Months Ended

Jun. 30, 2011

Reporting for Segments [Abstract]

Reporting for Segments

15. Reporting for Segments

The Company has six reportable segments: Electronic Materials, Performance Coatings, Color and Glass Performance Materials, Polymer Additives, Specialty Plastics, and Pharmaceuticals. We have aggregated our Tile Coating Systems and Porcelain Enamel operating segments into one reportable segment, Performance Coatings, based on their similar economic and operating characteristics.

The accounting policies of our segments are consistent with those described for our consolidated financial statements in the summary of significant accounting policies contained in our Annual Report on Form 10-K for the year ended December 31, 2010. We measure segment income for internal reporting purposes by excluding unallocated corporate expenses, restructuring and impairment charges, other expenses, net, and income taxes. Unallocated corporate expenses consist primarily of corporate employment costs and professional services.

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

	Three months ended				Six months ended
	June 30,				June 30,
	2011		2010		2011		2010
	(Dollars in thousands)
Electronic Materials	$	180,362	$	174,528	$	382,709	$	321,761
Performance Coatings		163,481		142,137		300,181		270,328
Color and Glass Performance Materials		106,476		97,697		206,281		197,029
Polymer Additives		91,271		79,664		177,133		154,140
Specialty Plastics		46,510		43,359		89,139		81,732
Pharmaceuticals		5,874		6,100		11,540		11,360
Total net sales	$	593,974	$	543,485	$	1,166,983	$	1,036,350

Each segment’s income (loss) and reconciliations to income before taxes follow:

	Three months ended					Six months ended
	June 30,					June 30,
	2011		2010			2011		2010
	(Dollars in thousands)
Electronic Materials	$	23,914	$	37,397		$	56,503	$	65,879
Performance Coatings		11,329		14,422			18,734		23,904
Color and Glass Performance Materials		11,201		9,982			21,031		17,265
Polymer Additives		4,331		2,836			10,782		6,827
Specialty Plastics		2,810		3,503			4,719		5,322
Pharmaceuticals		759		(271	)		1,915		(146	)
Total segment income		54,344		67,869			113,684		119,051
Unallocated corporate expenses		13,545		15,391			29,377		30,587
Restructuring and impairment charges		1,545		21,205			3,175		34,537
Other expense, net		8,172		9,760			16,752		24,637
Income before income taxes	$	31,082	$	21,513		$	64,380	$	29,290