Segment and Related Information

12 Months Ended

Dec. 31, 2011

Segment and Related Information [Abstract]

Segment and Related Information

Note 23.  Segment and Related Information

     Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company's operating segments are strategic business units that offer different products and serve different markets. They are managed separately and require different technology and marketing strategies.

     The Company has two reportable segments: Specialty Minerals and Refractories. The Specialty Minerals segment produces and sells precipitated calcium carbonate and lime, and mines, processes and sells the natural mineral products limestone and talc. This segment's products are used principally in the paper, building materials, paints and coatings, glass, ceramic, polymers, food, automotive, and pharmaceutical industries. The Refractories segment produces and markets monolithic and shaped refractory products and systems used primarily by the steel, cement and glass industries as well as metallurgical products used primarily in the steel industry.

     The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The Company evaluates performance based on the operating income of the respective business units. Depreciation expense related to corporate assets is allocated to the business segments and is included in their income from operations. However, such corporate depreciable assets are not included in the segment assets. Intersegment sales and transfers are not significant.

     Segment information for the years ended December 31, 2011, 2010 and 2009 was as follows:

	2011
(Millions of Dollars)		Specialty Minerals		Refractories			Total
Net sales	$	676.1	$	368.8		$	1,044.9
Income from operations		72.8		33.2			106.0
Restructuring and other charges		1.0		(0.6	)		0.5
Depreciation, depletion and amortization		47.6		10.6			58.2
Segment assets		603.8		355.8			959.6
Capital expenditures		41.7		8.0			49.7

	2010
(Millions of Dollars)		Specialty Minerals		Refractories		Total
Net sales	$	665.0	$	337.4	$	1,002.4
Income from operations		74.7		28.0		102.7
Restructuring and other charges		0.5		0.3		0.8
Depreciation, depletion and amortization		52.6		11.4		64.0
Segment assets		585.7		340.5		926.2
Capital expenditures		23.3		8.2		31.5

	2009
(Millions of Dollars)		Specialty Minerals		Refractories			Total
Net sales	$	628.4	$	278.9		$	907.3
Income (loss) from operations		34.2		(48.8	)		(14.6	)
Impairment of assets		8.5		31.3			39.8
Restructuring and other charges		11.5		10.5			22.0
Depreciation, depletion and amortization		58.5		13.9			72.4
Segment assets		631.7		326.2			957.9
Capital expenditures		19.1		5.6			24.7

   A reconciliation of the totals reported for the operating segments to the applicable line items in the consolidated financial statements is as follows:

(Millions of Dollars)
Income (loss) from continuing operations before
	provision (benefit) for taxes:		2011			2010			2009
Income (loss) from operations for reportable segments		$	106.0		$	102.7		$	(14.6	)
Unallocated corporate expenses			(5.7	)		(4.5	)		(2.5	)
Interest income			3.9			2.7			2.9
Interest expense			(3.3	)		(3.3	)		(3.5	)
Other income (deductions)			(3.2	)		1.2			(5.4	)
	Income (loss) from continuing operations before provision (benefit) for taxes	$	97.7		$	98.8		$	(23.1	)

Total assets			2011		2010		2009
Total segment assets		$	959.6	$	926.2	$	957.9
Corporate assets			205.4		189.9		114.2
	Consolidated total assets	$	1,165.0	$	1,116.1	$	1,072.1

Capital expenditures			2011		2010		2009
Total segment capital expenditures		$	49.7	$	31.5	$	24.7
Corporate capital expenditures			2.4		3.0		1.9
	Consolidated total capital expenditures	$	52.1	$	34.5	$	26.6

     The carrying amount of goodwill by reportable segment as of December 31, 2011 and December 31, 2010 was as follows:

		Goodwill
(Millions of Dollars)			December 31, 2011		December 31, 2010
Specialty Minerals		$	13.8	$	13.8
Refractories			50.9		53.3
	Total	$	64.7	$	67.1

     The net change in goodwill since December 31, 2010 is attributable to the effect of foreign exchange.

     Financial information relating to the Company's operations by geographic area was as follows:

(Millions of Dollars)
Net Sales			2011		2010			2009
United States		$	557.5	$	534.3	$		478.4
Canada/Latin America			74.3		68.9			60.2
Europe/Africa			298.4		288.4			283.9
Asia			114.7		110.8			84.8
Total International			487.4		468.1			428.9
	Consolidated total net sales	$	1,044.9	$	1,002.4		$	907.3

(Millions of Dollars)
Long-lived assets			2011		2010		2009
United States		$	239.8	$	239.9	$	253.5
Canada/Latin America			14.6		14.9		13.5
Europe/Africa			72.0		89.9		105.7
Asia			59.8		59.4		59.5
Total International			146.4		164.2		178.7
	Consolidated total long-lived assets	$	386.2	$	404.1	$	432.2

      Net sales and long-lived assets are attributed to countries and geographic areas based on the location of the legal entity. No individual foreign country represents more than 10% of consolidated net sales or consolidated long-lived assets.

The Company's sales by product category are as follows:

Millions of Dollars		2011		2010		2009
Paper PCC	$	497.0	$	496.6	$	484.6
Specialty PCC		63.6		58.0		50.1
Talc		46.9		44.0		32.3
GCC		68.6		66.4		61.4
Refractory Products		287.4		264.5		225.4
Metallurgical Products		81.4		72.9		53.5
Net sales	$	1,044.9	$	1,002.4	$	907.3