Segment and Related Information

12 Months Ended

Dec. 31, 2013

Segment and Related Information [Abstract]

Segment and Related Information

Note 21.  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, 2013, 2012 and 2011 was as follows:

	2013
Millions of Dollars		Specialty Minerals		Refractories		Total
Net sales	$	669.8	$	348.4	$	1,018.2
Income from operations		98.4		35.9		134.3
Depreciation, depletion and amortization		38.6		8.7		47.3
Segment assets		605.6		378.1		983.7
Capital expenditures		33.6		8.3		41.9

	2012
Millions of Dollars		Specialty Minerals		Refractories		Total
Net sales	$	653.4	$	343.4	$	996.8
Income from operations		87.7		32.6		120.3
Depreciation, depletion and amortization		40.8		10.3		51.1
Segment assets		617.0		355.5		972.5
Capital expenditures		41.0		8.0		49.0

	2011
Millions of Dollars		Specialty Minerals		Refractories			Total
Net sales	$	664.1	$	368.8		$	1,032.9
Income from operations		76.6		33.2			109.8
Restructuring and other charges		0.2		(0.6	)		(0.4	)
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

 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 from continuing operations before
	provision  for taxes:		2013			2012			2011
Income from operations for reportable segments		$	134.3		$	120.3		$	109.8
Unallocated corporate expenses			(7.4	)		(6.7	)		(5.7	)
Interest income			3.0			3.2			3.9
Interest expense			(3.3	)		(3.2	)		(3.3	)
Other deductions			(2.8	)		(3.0	)		(3.2	)
	Income  from continuing operations before provision for taxes	$	123.8		$	110.6		$	101.5

Total assets			2013		2012		2011
Total segment assets		$	983.7	$	972.5	$	959.6
Corporate assets			233.8		238.7		205.4
	Consolidated total assets	$	1,217.5	$	1,211.2	$	1,165.0

Capital expenditures			2013		2012		2011
Total segment capital expenditures		$	41.9	$	49.0	$	49.7
Corporate capital expenditures			1.9		3.1		2.4
	Consolidated total capital expenditures	$	43.8	$	52.1	$	52.1

     The carrying amount of goodwill by reportable segment as of December 31, 2013 and December 31, 2012 was as follows:

		Goodwill
Millions of Dollars			December 31,2013		December 31, 2012
Specialty Minerals		$	14.3	$	14.1
Refractories			50.1		51.7
	Total	$	64.4	$	65.8

     The net change in goodwill since December 31, 2012 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			2013		2012			2011
United States		$	563.5	$	562.5	$		557.5
Canada/Latin America			70.3		72.5			74.3
Europe/Africa			269.2		248.2			286.4
Asia			115.2		113.6			114.7
Total International			454.7		434.3			475.4
	Consolidated total net sales	$	1,018.2	$	996.8		$	1,032.9

Millions of Dollars
Long-lived assets			2013		2012		2011
United States		$	235.2	$	235.8	$	239.8
Canada/Latin America			12.1		14.5		14.6
Europe/Africa			64.9		69.0		72.0
Asia			60.5		67.3		59.8
Total International			137.5		150.8		146.4
	Consolidated total long-lived assets	$	372.7	$	386.6	$	386.2

      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		2013		2012		2011
Paper PCC	$	480.0	$	471.5	$	485.0
Specialty PCC		67.2		65.9		63.6
Talc		50.9		48.1		46.9
GCC		71.7		67.9		68.6
Refractory Products		264.0		264.1		287.4
Metallurgical Products		84.4		79.3		81.4
Net sales	$	1,018.2	$	996.8	$	1,032.9