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Segment Reporting (Tables)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Data and Reconciliations of Segment Data to Consolidated Financial Statements and Non-GAAP Measures The following

is segment data for the three months ended March 31, 2025 and 2024, and reconciliations of segment data to the condensed consolidated financial statements:

 

 

 

For the Three Months Ended March 31, 2025

 

(In thousands)

 

Surfactants

 

 

Polymers

 

 

Specialty
Products

 

 

Total

 

Net Sales

 

$

430,337

 

 

$

146,116

 

 

$

16,802

 

 

$

593,255

 

Cost of Sales (1)

 

 

376,666

 

 

 

130,896

 

 

 

10,397

 

 

 

517,959

 

Operating Expenses (2)

 

 

24,741

 

 

 

7,202

 

 

 

897

 

 

 

32,840

 

Operating Income

 

$

28,930

 

 

$

8,018

 

 

$

5,508

 

 

$

42,456

 

Unallocated Corporate Expenses (3)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(14,168

)

Consolidated Operating Income

 

 

 

 

 

 

 

 

 

 

$

28,288

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment Capital Expenditures

 

$

24,004

 

 

$

7,071

 

 

$

1,080

 

 

 

32,155

 

Unallocated Capital Expenditures (4)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

593

 

Consolidated Capital Expenditures

 

 

 

 

 

 

 

 

 

 

$

32,748

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment Depreciation and Amortization

 

$

19,430

 

 

$

8,061

 

 

$

1,489

 

 

 

28,980

 

Unallocated Depreciation and Amortization (5)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

290

 

Consolidated Depreciation and Amortization

 

 

 

 

 

 

 

 

 

 

$

29,270

 

 

 

 

For the Three Months Ended March 31, 2024

 

(In thousands)

 

Surfactants

 

 

Polymers

 

 

Specialty
Products

 

 

Total

 

Net Sales

 

$

390,820

 

 

$

145,508

 

 

$

15,090

 

 

$

551,418

 

Cost of Sales (1)

 

 

340,378

 

 

 

130,432

 

 

 

10,021

 

 

 

480,831

 

Operating Expenses (2)

 

 

24,363

 

 

 

6,694

 

 

 

801

 

 

 

31,858

 

Operating Income

 

$

26,079

 

 

$

8,382

 

 

$

4,268

 

 

$

38,729

 

Unallocated Corporate Expenses (3)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(18,560

)

Consolidated Operating Income

 

 

 

 

 

 

 

 

 

 

$

20,169

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment Capital Expenditures

 

$

26,584

 

 

$

2,505

 

 

$

1,068

 

 

 

30,157

 

Unallocated Capital Expenditures (4)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Consolidated Capital Expenditures

 

 

 

 

 

 

 

 

 

 

$

30,157

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment Depreciation and Amortization

 

$

17,666

 

 

$

8,043

 

 

$

1,477

 

 

 

27,186

 

Unallocated Depreciation and Amortization (5)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

418

 

Consolidated Depreciation and Amortization

 

 

 

 

 

 

 

 

 

 

$

27,604

 

 

The following is segment assets at March 31, 2025 and December 31, 2024, and reconciliations of segment assets to the condensed consolidated financial statements.

 

 

 

As of March 31, 2025

 

(In thousands)

 

Surfactants

 

 

Polymers

 

 

Specialty
Products

 

 

Total

 

Segment Assets

 

$

1,643,031

 

 

$

543,296

 

 

$

75,632

 

 

 

2,261,959

 

Unallocated Assets (6)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

127,724

 

Consolidated Assets

 

 

 

 

 

 

 

 

 

 

$

2,389,683

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2024

 

(In thousands)

 

Surfactants

 

 

Polymers

 

 

Specialty
Products

 

 

Total

 

Segment Assets

 

$

1,578,689

 

 

$

523,192

 

 

$

70,898

 

 

 

2,172,779

 

Unallocated Assets (6)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

131,869

 

Consolidated Assets

 

 

 

 

 

 

 

 

 

 

$

2,304,648

 

 

(1)
Cost of sales is comprised of raw material costs (including freight and shipping/handling expenses to deliver the raw materials), manufacturing plant labor expenses and other manufacturing overhead expenses, such as utilities, maintenance, depreciation, etc. that can be allocated to reportable segments.
(2)
Operating expenses allocated to reportable segments are comprised of selling, administrative and research and development expenses. The CODM uses operating expenses in aggregate to analyze the performance of each reportable segment.
(3)
Unallocated corporate expenses are primarily comprised of corporate administrative expenses (e.g., corporate finance, legal, human resources, information technology and environmental remediation expenses), deferred compensation and business restructuring and assets impairment expenses that are not included in segment operating income and not used to evaluate segment performance.
(4)
Unallocated capital expenditures primarily include capital expenditures related to the Company’s Northfield, Illinois location.
(5)
Unallocated depreciation and amortization primarily includes depreciation related to the Company’s Northfield, Illinois location.
(6)
Unallocated assets primarily include assets in the Company’s Northfield, Illinois location.