Segment Reporting

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Segment Reporting

12.SEGMENT REPORTING

The Company has three reportable segments: Surfactants, Polymers and Specialty Products. Net sales by segment for the three months ended March 31, 2024 and 2023, were as follows:

(In thousands)	Three Months Ended March 31,
	2024		2023
Segment Net Sales
Surfactants	$	390,820	$	467,828
Polymers		145,508		161,127
Specialty Products		15,090		22,481
Total	$	551,418	$	651,436

Segment operating income and reconciliations of segment operating income to income before provision for income taxes for the three months ended March 31, 2024 and 2023, are summarized below:

(In thousands)	Three Months Ended March 31,
	2024			2023
Segment Operating Income
Surfactants	$	26,079		$	27,056
Polymers		8,382			10,004
Specialty Products		4,268			2,530
Segment operating income		38,729			39,590
Business restructuring		—			(157	)
Unallocated corporate expenses (1)		(18,560	)		(18,376	)
Total operating income		20,169			21,057
Other Income (Expense)
Interest, net		(3,071	)		(2,822	)
Other, net		2,362			1,668
Income before provision for income taxes	$	19,460		$	19,903

(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.