Segment Reporting

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Segment Reporting

13. SEGMENT REPORTING

The Company has three reportable segments: Surfactants, Polymers and Specialty Products. Net sales by segment for the three months ended March 31, 2019 and 2018, were as follows:

(In thousands)	Three Months Ended March 31
	2019		2018
Segment Net Sales
Surfactants	$	349,650	$	358,940
Polymers		120,179		121,933
Specialty Products		19,341		18,462
Total	$	489,170	$	499,335

Segment operating income and reconciliations of segment operating income to consolidated income before income taxes for the three months ended March 31, 2019 and 2018, are summarized below:

(In thousands)	Three Months Ended March 31
	2019			2018                    As Adjusted
Segment Operating Income
Surfactants (1)	$	37,167		$	41,468
Polymers (1)		12,105			17,305
Specialty Products		3,131			(350	)
Segment operating income (1)		52,403			58,423
Business restructuring		(733	)		(358	)
Unallocated corporate expenses (2)		(21,932	)		(16,782	)
Consolidated operating income (1)		29,738			41,283
Interest expense, net		(1,853	)		(3,151	)
Other, net		3,145			1,160
Consolidated income before income taxes (1)	$	31,030		$	39,292

⁽¹⁾  The 2018 amounts for the noted line items have been changed from the amounts originally reported as a result of the Company’s first quarter 2019 change in method of accounting for U.S. inventory valuation from LIFO to FIFO.

⁽²⁾ 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.