Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Operating Segment

The Company has three reportable segments: Surfactants, Polymers and Specialty Products. Net sales by segment for the three and nine months ended September 30, 2022 and 2021, were as follows:

(In thousands)	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Segment Net Sales
Surfactants	$	474,861	$	387,734	$	1,428,211	$	1,142,672
Polymers		214,807		198,841		640,771		539,764
Specialty Products		29,517		16,113		77,112		53,503
Total	$	719,185	$	602,688	$	2,146,094	$	1,735,939

Reconciliation of Segment Information to Income Before Provision for Income Taxes

Segment operating income and reconciliations of segment operating income to income before provision for income taxes for the three and nine months ended September 30, 2022 and 2021, are summarized below:

(In thousands)	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Segment Operating Income
Surfactants	$	38,976		$	34,452		$	140,994		$	133,558
Polymers		31,864			19,753			79,905			60,729
Specialty Products		9,685			2,442			23,246			12,052
Segment operating income		80,525			56,647			244,145			206,339
Business restructuring		(92	)		(72	)		(225	)		(267	)
Unallocated corporate expenses (1)		(25,774	)		(16,362	)		(48,275	)		(55,288	)
Consolidated operating income		54,659			40,213			195,645			150,784
Other Income (Expense)
Interest, net		(2,221	)		(1,599	)		(7,254	)		(4,690	)
Other, net		(1,980	)		702			(8,999	)		4,206
Income before provision for income taxes	$	50,458		$	39,316		$	179,392		$	150,300

(1)Unallocated corporate expenses are primarily comprised of corporate administrative expenses (e.g., corporate finance, legal, human resources, information systems, deferred compensation and environmental remediation) that are not included in segment operating income and are not used to evaluate segment performance.