Segment and Related Information

12 Months Ended

Dec. 31, 2016

Segment and Related Information [Abstract]

Segment and Related Information

Note 22. Segment and Related Information

The Company determines its operating segments based on the discrete financial information that is regularly evaluated by its chief operating decision maker, our President and Chief Executive Officer, 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 5 reportable segments: Specialty Minerals, Refractories, Performance Materials, Construction Technologies, and Energy Services.

- The Specialty Minerals segment produces and sells the synthetic mineral product precipitated calcium carbonate ("PCC") and processed mineral product quicklime ("lime"), and mines mineral ores then processes and sells natural mineral products, primarily limestone and talc.

- The Refractories segment produces and markets monolithic and shaped refractory materials and specialty products, services and application and measurement equipment, and calcium metal and metallurgical wire products.

- The Performance Materials segment is a leading supplier of bentonite and bentonite-related products. This segment also supplies chromite and leonardite and operates more than 25 mining or production facilities worldwide.

- The Construction Technologies segment provides products for non-residential construction, environmental and infrastructure projects worldwide.  It serves customers engaged in a broad range of construction projects, including site remediation, concrete waterproofing for underground structures, liquid containment on projects ranging from landfills to flood control, and drilling applications including foundation, slurry wall, tunneling, water well, and horizontal drilling.

- The Energy Services segment provides services to improve the production, costs, compliance, and environmental impact of activities performed in oil and gas industry.  This segment offers a range of services for off-shore filtration and well testing to the worldwide oil and gas 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. The costs deducted to arrive at operating profit do not include several items, such as net interest or income tax expense. 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, 2016, 2015 and 2014 was as follows:

	2016			2015			2014
	(millions of dollars)
Net Sales
Specialty Minerals	$	591.5		$	624.6		$	650.1
Refractories		274.5			295.9			359.7
Performance Materials		502.8			514.8			352.8
Construction Technologies		183.3			180.1			152.3
Energy Services		85.9			182.2			210.1
Total		1,638.0			1,797.6			1,725.0
Income from Operations
Specialty Minerals		102.7			100.8			95.8
Refractories		37.0			27.8			43.2
Performance Materials		97.5			95.9			41.0
Construction Technologies		23.6			22.5			(0.8	)
Energy Services		(25.9	)		(27.9	)		16.3
Total		234.9			219.1			195.5
Depreciation, Depletion and Amortization
Specialty Minerals		34.9			34.0			35.6
Refractories		6.9			7.5			10.8
Performance Materials		30.4			31.7			18.7
Construction Technologies		8.5			7.7			5.8
Energy Services		11.2			17.4			13.5
Total		91.9			98.3			84.4
Segment Assets
Specialty Minerals		491.7			505.3			494.4
Refractories		283.4			292.7			357.3
Performance Materials		1,606.4			1,626.0			1,584.4
Construction Technologies		335.7			339.4			447.7
Energy Services		104.7			154.7			228.9
Total		2,821.9			2,918.1			3,112.7
Capital Expenditures
Specialty Minerals		40.4			51.9			44.4
Refractories		5.9			11.1			11.7
Performance Materials		11.2			9.8			7.3
Construction Technologies		1.6			1.3			1.0
Energy Services		1.4			11.1			16.7
Total		60.5			85.2			81.1

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

	2016			2015			2014
	(millions of dollars)
Income from Operations before Provision for Taxes on Income
Income from operations for reportable segments	$	234.9		$	219.1		$	195.5
Acquisition related transaction and integration costs		(8.0	)		(11.8	)		(19.1	)
Unallocated corporate expenses		(6.0	)		(7.0	)		(7.6	)
Consolidated income from operations		220.9			200.3			168.8
Non-operating deductions, net		(50.6	)		(67.7	)		(45.8	)
Income from continuing operations before provision for taxes on income		170.3			132.6			123.0
Total Assets
Total segment assets		2,821.9			2,918.1			3,112.7
Corporate assets		41.5			61.9			44.8
Consolidated total assets		2,863.4			2,980.0			3,157.5
Capital Expenditures
Total segment capital expenditures		60.5			85.2			81.1
Corporate capital expenditures		1.9			0.8			0.7
Consolidated capital expenditures		62.4			86.0			81.8

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

	2016		2015		2014
	(millions of dollars)
Net Sales
United States	$	936.2	$	1,049.6	$	1,004.4
Canada/Latin America		82.6		86.3		90.2
Europe/Africa		338.8		382.1		407.7
Asia		280.4		279.6		222.7
Total International		701.8		748.0		720.6
Consolidated net sales		1,638.0		1,797.6		1,725.0
Long-Lived Assets
United States	$	1,794.5	$	1,829.3	$	1,865.2
Canada/Latin America		14.8		13.0		18.8
Europe/Africa		98.2		117.6		136.8
Asia		127.3		138.3		144.3
Total International		240.3		268.9		299.9
Consolidated long-lived assets		2,034.8		2,098.2		2,165.1

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:

	2016		2015		2014
	(millions of dollars)
Paper PCC	$	387.9	$	423.3	$	454.5
Specialty PCC		64.3		64.8		66.1
Talc		55.7		55.9		55.5
Ground Calcium Carbonate		83.6		80.6		74.0
Refractory Products		219.0		230.7		273.9
Metallurgical Products		55.5		65.2		85.8
Metalcasting		258.0		266.4		181.4
Household, Personal Care and Specialty Products		171.2		172.7		108.0
Basic Minerals and Other Products		73.6		75.7		63.4
Environmental Products		78.9		69.7		70.7
Building Materials and Other Products		104.4		110.4		81.6
Energy Services		85.9		182.2		210.1
Total		1,638.0		1,797.6		1,725.0