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Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Earnings Per Share Calculation

Earnings per share have been calculated using the following share information:



	Years Ended December 31,
	2016	2015	2014
Weighted average number of common shares used for basic EPS	34,713,937	36,554,437	37,651,492
Effect of dilutive stock options and restricted and deferred stock unit awards	496,493	—	—
Weighted average number of common shares and dilutive potential common stock used in dilutive EPS	35,210,430	36,554,437	37,651,492

Schedule of Investments in and Affiliated Companies

Financial data for investments in affiliated companies are summarized in the following table (in thousands):



Statement of operations data	Year Ended December 31, 2014⁽¹⁾
Revenue	$	9,088
Gross profit	3,489
Net income	2,413
Equity in earnings of affiliated companies	570

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⁽¹⁾ Includes the results of Bayou Coating through the date of its sale in March 2014.

Schedule of Variable Interest Entities

Financial data for consolidated variable interest entities are summarized in the following tables (in thousands):



	December 31,
Balance sheet data	2016		2015 ⁽¹⁾
Current assets	$	51,354	$	60,730
Non-current assets	25,607		26,316
Current liabilities	29,324		24,784
Non-current liabilities	28,849		25,728

_____________________


⁽¹⁾	Amounts include $21.1 million of current assets and $7.0 million of current liabilities classified as held for sale. See Note 5.



	Years Ended December 31,
Statement of operations data	2016			2015		2014
Revenue	$	61,205		$	77,361	$	84,968
Gross profit	5,760			11,325		14,306
Net income (loss)	(3,075		)	321		2,413

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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