Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2017

The Company has three reportable segments: Surfactants, Polymers and Specialty Products. Net sales by segment for the three and nine months ended September 30, 2017 and 2016, were as follows:

(In thousands)	Three Months Ended September 30				Nine Months Ended September 30
	2017		2016		2017		2016
Segment Net Sales
Surfactants	$	321,444	$	290,467	$	973,381	$	899,014
Polymers		147,754		134,144		415,551		382,540
Specialty Products		18,616		20,419		62,252		63,976
Total	$	487,814	$	445,030	$	1,451,184	$	1,345,530

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, 2017 and 2016, are summarized below:

(In thousands)	Three Months Ended September 30						Nine Months Ended September 30
	2017			2016			2017			2016
Segment Operating Income
Surfactants	$	22,466		$	20,737		$	91,733		$	85,214
Polymers		21,116			27,087			63,772			80,278
Specialty Products		988			2,328			7,702			6,449
Segment operating income		44,570			50,152			163,207			171,941
Business restructuring		(426	)		—			(1,798	)		(1,061	)
Unallocated corporate expenses ⁽¹⁾		(13,835	)		(21,414	)		(46,080	)		(54,619	)
Consolidated operating income		30,309			28,738			115,329			116,261
Interest expense, net		(2,763	)		(2,824	)		(8,618	)		(9,855	)
Other, net		1,766			1,229			3,994			401
Consolidated income before income taxes	$	29,312		$	27,143		$	110,705		$	106,807

(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 not used to evaluate segment performance.