Reporting for Segments

9 Months Ended

Sep. 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				Nine months ended
	September 30,				September 30,
	2011		2010		2011		2010
	(Dollars in thousands)
Electronic Materials	$	156,081	$	166,953	$	538,790	$	488,714
Performance Coatings		153,365		144,218		453,546		414,546
Color and Glass Performance Materials		100,525		91,167		306,806		288,196
Polymer Additives		85,634		77,291		262,767		231,431
Specialty Plastics		43,606		42,633		132,745		124,365
Pharmaceuticals		6,903		6,302		18,443		17,662
Total net sales	$	546,114	$	528,564	$	1,713,097	$	1,564,914

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

	Three months ended					Nine months ended
	September 30,					September 30,
	2011		2010			2011		2010
	(Dollars in thousands)
Electronic Materials	$	17,754	$	31,394		$	74,257	$	97,273
Performance Coatings		11,728		11,322			30,462		35,226
Color and Glass Performance Materials		8,758		9,192			29,789		26,457
Polymer Additives		4,025		6,970			14,807		13,797
Specialty Plastics		2,662		4,253			7,381		9,575
Pharmaceuticals		1,062		534			2,977		388
Total segment income		45,989		63,665			159,673		182,716
Unallocated corporate expenses		9,709		18,204			39,086		48,791
Restructuring and impairment charges		869		9,570			4,044		44,107
Other expense, net		8,770		37,515			25,522		62,152
Income (loss) before income taxes	$	26,641	$	(1,624	)	$	91,021	$	27,666