Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2016

The following is segment data for the three years ended December 31, 2016, 2015 and 2014:

(In thousands)	Surfactants		Polymers		Specialty Products		Segment Totals
2016
Net sales	$	1,181,563	$	498,826	$	85,777	$	1,766,166
Operating income		99,796		96,788		10,698		207,282
Assets		831,324		301,890		75,483		1,208,697
Capital expenditures		64,121		31,890		4,194		100,205
Depreciation and amortization expenses		48,643		20,275		4,204		73,122

2015
Net sales	$	1,205,849	$	491,488	$	78,830	$	1,776,167
Operating income		104,080		80,942		4,397		189,419
Assets		758,524		293,790		72,604		1,124,918
Capital expenditures		79,171		31,309		6,387		116,867
Depreciation and amortization expenses		42,122		19,541		3,659		65,322

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

Reconciliation of Segment Information to Consolidated Financial Statements

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

(In thousands)	2016			2015			2014
Operating income - segment totals	$	207,282		$	189,419		$	131,955
Business restructuring and asset impairments ^(a)		(7,064	)		—			(4,009	)
Unallocated corporate expenses ^(b)		(74,025	)		(66,629	)		(37,252	)
Total operating income		126,193			122,790			90,694
Interest expense, net		(13,205	)		(14,533	)		(11,441	)
Loss from equity in joint ventures		—			(6,985	)		(5,008	)
Other, net		828			1,584			1,290
Consolidated income before income taxes	$	113,816		$	102,856		$	75,535

Assets - segment totals	$	1,208,697		$	1,124,918		$	1,129,905
Unallocated corporate assets ^{(c) (d)}		145,193			113,474			32,109
Consolidated assets ^(d)	$	1,353,890		$	1,238,392		$	1,162,014

Capital expenditures - segment totals	$	100,205		$	116,867		$	98,823
Unallocated corporate expenditures		2,871			2,482			2,996
Consolidated capital expenditures	$	103,076		$	119,349		$	101,819

Depreciation and amortization expenses – segment totals	$	73,122		$	65,322		$	62,708
Unallocated corporate depreciation expenses		1,845			1,663			1,096
Consolidated depreciation and amortization expenses	$	74,967		$	66,985		$	63,804

(a)

See Note 22 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 changes in unallocated corporate assets between 2016, 2015 and 2014 were primarily attributable to changes in the balance of U.S. cash and cash equivalents, which are not allocated to segments.

(d)

The 2015 amounts in the noted line items have been changed from the amounts originally reported due to the reclassification of debt issuance costs pursuant to the Company’s adoption of ASU No. 2015-3. See Note 1 for further information.

Summary of company-wide geographic data

Below is certain Company-wide geographic data for the years ended December 31, 2016, 2015 and 2014:

(In thousands)	2016		2015		2014
Net sales ^(a)
United States	$	1,076,259	$	1,069,526	$	1,146,405
France		151,031		169,072		183,896
Poland		153,986		150,654		175,862
United Kingdom		86,458		89,757		103,696
Brazil		74,961		63,439		65,165
All other countries		223,471		233,719		252,189
Total	$	1,766,166	$	1,776,167	$	1,927,213

Long-lived assets ^(b)
United States	$	411,023	$	387,744	$	360,921
Germany		27,475		30,268		36,156
Singapore		36,270		39,181		41,909
Brazil ^(c)		58,106		26,721		25,991
China		29,508		25,689		10,674
United Kingdom		20,309		22,943		23,040
All other countries		47,670		52,139		57,809
Total	$	630,361	$	584,685	$	556,500

(a)

Net sales are attributed to countries based on the location of the Company facility making the sales.

(b)

Includes net property, plant and equipment, goodwill and other intangible assets.

(c)

The change between 2016 and 2015 was attributable to the acquisition described in Note 20.