The Company is organized into three reportable operating segments: Adhesives, Sealants and Additives; Industrial Tapes; and Corrosion Protection and Waterproofing. The segments are distinguished by the nature of the products manufactured and how they are delivered to their respective markets.

The Adhesives, Sealants and Additives segment offers innovative and specialized product offerings consisting of both end-use products and intermediates that are used in, or integrated into, another company’s product. Demand for the segment’s product offerings is typically dependent upon general economic conditions. The Adhesives, Sealants and Additives segment leverages the core specialty chemical competencies of the Company and serves diverse markets and applications. The segment sells predominantly into the transportation, appliances, medical, general industrial and environmental market verticals. The segment’s products include moisture protective coatings and cleaners, customized sealant and adhesive systems for electronics, polymeric microspheres, polyurethane dispersions and superabsorbent polymers. Beginning September 1, 2020, the Adhesives, Sealants and Additives segment includes the acquired operations of ABchimie, within the electronic and industrial coatings product line and beginning February 5, 2021, the acquired operations of ETi, within the functional additives product line.

The Industrial Tapes segment features wire and cable materials, specialty tapes and other laminated and coated products. The segment derives its competitive advantage through its proven chemistries, its diverse specialty offerings and the reliability its supply chain offers to end customers. These products are generally used in the assembly of other manufacturers’ products, with demand typically dependent upon general economic conditions. The Industrial Tapes segment sells mostly to established markets, with some exposure to growth opportunities through further development of existing products. Markets served include wire and cable manufacturing, utilities and telecommunications, and electronics packaging. The segment’s offerings include insulating and conducting materials for wire and cable manufacturers, laminated durable papers, laminates for the packaging and industrial laminate markets, custom manufacturing services, pulling and detection tapes used in the installation, measurement and location of fiber optic cables and water and natural gas lines and cover tapes essential to delivering semiconductor components via tape-and-reel packaging.

The Corrosion Protection and Waterproofing segment is principally composed of project-oriented product offerings that are primarily sold and used as “Chase” branded products. End markets include new and existing infrastructure projects on oil, gas, water and wastewater pipelines, highways and bridge decks, water and wastewater containment systems, and commercial and industrial structures. The segment’s products include protective coatings for pipeline applications, coating and lining systems for waterproofing and liquid storage applications, adhesives and sealants used in architectural and building envelope waterproofing applications, high-performance polymeric asphalt additives, and expansion joint systems for waterproofing applications in transportation and architectural markets. With sales generally dependent on outdoor project work, the segment experiences highly seasonal sales patterns.

The following tables summarize information about the Company’s reportable segments:

(a)

Includes a $474 gain in the third quarter and a $199 year-to-date gain on the adjustment of the performance-based earn-out contingent consideration associated with the September 2020 acquisition of ABchimie and $27 and $328 in operation optimization costs in the third quarter and year-to-date period related to the move from Woburn, MA to O’Hara Township, PA and $0 and $147 of operations optimization costs in the third and year-to-date period related to the move from Newark, CA to Hickory, NC

(b)

Includes $32 and $232 of operations optimization costs in the three- and nine-month period, respectively, related to the Company’s move to the new Corporate Headquarters within Westwood, MA substantially completed in the second quarter of the fiscal year

(c)

Includes $262 and $995 loss on the upward adjustment of the performance-based earn out contingent consideration associated with the September 2020 acquisition of ABchimie in the third quarter and year-to-date fiscal 2021 periods and $22 and $120 operations optimization in exit costs related to the movement of the sealants system business out of the Newark, CA location and into the Hickory, NC location during the third and year-to-date period of fiscal 2021. Also includes $128 in acquisition-related expense in the nine month period in corporate and common costs attributable to the February 2021 acquisition of the operations of ETi

Total assets for the Company’s reportable segments as of May 31, 2022 and August 31, 2021 were:


	May 31,		August 31,
	2022		2021
Total Assets
Adhesives, Sealants and Additives	$	156,385	$	161,968
Industrial Tapes		85,264		72,301
Corrosion Protection and Waterproofing		33,447		31,067
Total for reportable segments		275,096		265,336
Corporate and common assets		145,795		138,823
Total	$	420,891	$	404,159

The Company’s products are sold worldwide. Revenue for the three- and nine-month periods ended May 31, 2022 and 2021 was attributed to operations located in the following countries:


	Three Months Ended May 31,				Nine Months Ended May 31,
	2022		2021		2022		2021
Revenue
United States	$	76,140	$	67,264	$	204,009	$	178,635
United Kingdom		6,604		6,184		17,125		19,208
All other foreign ⁽¹⁾		5,875		6,145		16,448		17,373
Total	$	88,619	$	79,593	$	237,582	$	215,216

(1)

Comprises sales orders originated from the Company’s French locations, royalty revenue attributable to its licensed manufacturer in Asia, and Chase foreign manufacturing operations.

As of May 31, 2022 and August 31, 2021 the Company had long-lived assets (defined as tangible assets providing the Company with a future economic benefit beyond the current year or operating period, including buildings, equipment and leasehold improvements) and goodwill and intangible assets, less accumulated amortization, in the following countries:


	May 31,		August 31,
	2022		2021
Long-Lived Assets
United States
Property, plant and equipment, net	$	21,385	$	20,990
Goodwill and Intangible assets, less accumulated amortization		107,633		115,936

United Kingdom
Property, plant and equipment, net		2,050		2,174
Goodwill and Intangible assets, less accumulated amortization		3,589		3,905

All other foreign
Property, plant and equipment, net		1,096		1,103
Goodwill and Intangible assets, less accumulated amortization		22,046		24,979

Total
Property, plant and equipment, net	$	24,531	$	24,267
Goodwill and Intangible assets, less accumulated amortization	$	133,268	$	144,820