Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2015

The Company has three reportable segments: Surfactants, Polymers and Specialty Products. Net sales by segment for the three and nine months ended September 30, 2015 and 2014, were as follows:

(In thousands)	Three Months Ended September 30				Nine Months Ended September 30
	2015		2014		2015		2014
Segment Net Sales
Surfactants	$	290,830	$	318,486	$	921,124	$	987,957
Polymers		134,726		152,955		377,703		420,332
Specialty Products		18,455		19,988		58,049		64,693
Total	$	444,011	$	491,429	$	1,356,876	$	1,472,982

Reconciliation of Segment Information to Consolidated Financial Statements

Segment operating income and reconciliations of segment operating income to consolidated income before income taxes for the three and nine months ended September 30, 2015 and 2014, are summarized below:

(In thousands)	Three Months Ended September 30						Nine Months Ended September 30
	2015			2014			2015			2014
Segment Operating Income
Surfactants	$	21,762		$	11,115		$	79,758		$	48,692
Polymers		24,588			18,268			62,802			47,538
Specialty Products		(268	)		3,029			3,498			10,600
Segment operating income		46,082			32,412			146,058			106,830
Unallocated corporate expenses ⁽¹⁾		(7,288	)		(10,159	)		(43,491	)		(25,140	)
Consolidated operating income		38,794			22,253			102,567			81,690
Interest expense, net		(3,837	)		(2,846	)		(10,760	)		(8,824	)
Loss from equity in joint ventures		(863	)		(1,148	)		(3,918	)		(3,842	)
Other, net		(981	)		(31	)		(94	)		499
Consolidated income before income taxes	$	33,113		$	18,228		$	87,795		$	69,523

⁽¹⁾

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.