Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2014

Segment data for the three years ended December 31, 2014, 2013 and 2012, are as follows:

(In thousands)	Surfactants		Polymers		Specialty Products		Segment Totals
2014
Net sales	$	1,296,638	$	550,966	$	79,609	$	1,927,213
Operating income		60,778		60,690		10,487		131,955
Assets		741,677		320,640		67,588		1,129,905
Capital expenditures		70,796		22,409		5,618		98,823
Depreciation and amortization expenses		41,483		18,433		2,792		62,708

2013
Net sales	$	1,317,164	$	483,361	$	80,261	$	1,880,786
Operating income		100,201		54,536		10,902		165,639
Assets		710,521		292,015		68,413		1,070,949
Capital expenditures		66,266		18,804		6,370		91,440
Depreciation and amortization expenses		36,400		16,351		2,631		55,382

2012
Net sales	$	1,305,800	$	423,959	$	73,978	$	1,803,737
Operating income		118,591		48,130		12,242		178,963
Assets		692,891		199,013		58,810		950,714
Capital expenditures		56,236		19,266		5,815		81,317
Depreciation and amortization expenses		34,036		13,328		2,270		49,634

Reconciliation of Segment Information to Consolidated Financial Statements

Below are reconciliations of segment data to the consolidated financial statements:

(In thousands)	2014			2013			2012
Operating income - segment totals	$	131,955		$	165,639		$	178,963
Business restructuring and asset impairments ^(a)		(4,009	)		(1,040	)		—
Unallocated corporate expenses ^(b)		(37,252	)		(55,446	)		(50,247	)
Total operating income		90,694			109,153			128,716
Interest expense, net		(11,441	)		(10,358	)		(9,599	)
Loss from equity in joint ventures		(5,008	)		(5,336	)		(4,724	)
Other, net		1,290			2,171			1,329
Consolidated income before income taxes	$	75,535		$	95,630		$	115,722

Assets - segment totals	$	1,129,905		$	1,070,949		$	950,714
Unallocated corporate assets ^(c)		32,109			96,253			34,764
Consolidated assets	$	1,162,014		$	1,167,202		$	985,478

Capital expenditures - segment totals	$	98,823		$	91,440		$	81,317
Unallocated corporate expenditures		2,996			1,425			1,842
Consolidated capital expenditures	$	101,819		$	92,865		$	83,159

Depreciation and amortization expenses – segment totals	$	62,708		$	55,382		$	49,634
Unallocated corporate depreciation expenses		1,096			1,018			1,660
Consolidated depreciation and amortization expenses	$	63,804		$	56,400		$	51,294

(a)	See Note 21 regarding business restructuring and asset impairment costs.

(b)

Unallocated corporate expenses primarily comprise 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 not used to evaluate segment performance.

(c)

The decline in unallocated corporate assets between 2013 and 2014 was primarily attributable to decreases in the balances of U.S. cash and cash equivalents, which are not allocated to segments. The increase in unallocated corporate assets between 2012 and 2013 was primarily attributable to increases in the balances of U.S. cash and cash equivalents and mutual fund investment assets, which are not allocated to segments.

Summary of company-wide geographic data

Below is certain Company-wide geographic data for the years ended December 31, 2014, 2013 and 2012:

(In thousands)	2014		2013		2012
Net sales ^(a)
United States	$	1,146,405	$	1,103,181	$	1,076,222
France ^(b)		183,896		221,971		298,158
Poland ^(b)		175,862		122,215		19,588
United Kingdom		103,696		104,470		103,523
All other countries		317,354		328,949		306,246
Total	$	1,927,213	$	1,880,786	$	1,803,737

Long-lived assets ^(c)
United States	$	360,921	$	330,799	$	246,118
Germany		36,156		42,309		34,213
Singapore		41,909		44,315		43,239
Philippines		17,793		18,817		22,658
Brazil		25,991		22,920		18,410
United Kingdom		23,040		23,061		20,878
All other countries		50,690		47,216		52,483
Total	$	556,500	$	529,437	$	437,999

^(a)	Net sales are attributed to countries based on selling location.

^(b)

The 2012-to-2013 net sales increase for Poland and net sales decrease for France reflected the 2013 transfer of ownership of the Company’s European Polymer intangibles from the Company’s France subsidiary to its Poland subsidiary, which resulted in European Polymer sales being recognized in Poland instead of France.

^(c)	Includes net property, plant and equipment, goodwill and other intangible assets.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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