Segment and Related Information

3 Months Ended

Apr. 02, 2017

Segment and Related Information [Abstract]

Segment and Related Information

Note 14. Segment and Related Information

On a regular basis, the Company reviews its segments and the approach used by the chief operating decision maker to assess performance and allocate resources.  Accordingly, in the first quarter of 2017, the Company reorganized the management structure for its Performance Materials and Construction Technologies business units to better reflect the way performance is evaluated and resources allocated. As a result, all of the product lines within these business segments were combined into one operating segment.  Presented below are the restated financial results, by product line, of this operating segment for each quarter of 2016 to conform to the current management structure.

	2016 quarters												Full Year 2016
	First			Second			Third			Fourth
	(millions of dollars, except per share amounts)
Net sales
Metalcasting	$	60.0		$	68.0		$	63.1		$	66.9		$	258.0
Household, Personal Care & Specialty Products		45.3			44.0			42.1			39.8			171.2
Environmental Products		13.4			26.5			24.6			14.4			78.9
Building Materials		20.4			19.7			16.9			17.1			74.1
Basic Minerals		20.5			24.3			22.3			36.8			103.9
Performance Materials Segment		159.6			182.5			169.0			175.0			686.1
Income from operations
Performance Materials Segment	$	28.2		$	33.3		$	30.2		$	29.4		$	121.1
% of  Sales		17.7	%		18.2	%		17.9	%		16.8	%		17.7	%

The Company now has 4 reportable segments: Specialty Minerals, Performance Materials, Refractories and Energy Services.See Note 1 to the Condensed Consolidated Financial Statements.  Segment information is as follows:

	Three Months Ended
	Apr. 2, 2017		Apr. 3, 2016
	(millions of dollars)
Net Sales
Specialty Minerals	$	146.2	$	155.6
Refractories		70.2		69.2
Performance Materials		169.9		159.6
Energy Services		18.7		25.8
Total	$	405.0	$	410.2
Income from Operations
Specialty Minerals	$	24.4	$	25.7
Refractories		9.2		6.8
Performance Materials		28.8		28.2
Energy Services		1.7		(0.1	)
Total	$	64.1	$	60.6

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

	Income from operations before provision for taxes on income
	Three Months Ended
	Apr. 2, 2017			Apr. 3, 2016
	(millions of dollars)
Income from operations for reportable segments	$	64.1		$	60.6
Acquisition Related Transaction and Integration Costs		(1.5	)		(1.6	)
Unallocated corporate expenses		(0.9	)		(1.4	)
Consolidated income from operations		61.7			57.6
Non-operating deductions, net		(16.2	)		(12.4	)
Income from continuing operations before provision for taxes on income	$	45.5		$	45.2

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

	Three Months Ended
	Apr. 2, 2017		Apr. 3, 2016
	(millions of dollars)
Paper PCC	$	93.4	$	103.2
Specialty PCC		17.0		16.7
Talc		14.3		15.0
Ground Calcium Carbonate		21.5		20.7
Refractory Products		56.7		53.4
Metallurgical Products		13.5		15.8
Metalcasting		66.6		60.0
Household, Personal Care and Specialty Products		41.1		45.3
Environmental Products		10.6		13.4
Building Materials		17.4		20.4
Basic Minerals		34.2		20.5
Energy Services		18.7		25.8
Total	$	405.0	$	410.2