Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Operating Segment

The Company has three reportable segments: Surfactants, Polymers and Specialty Products. Net sales by segment for the three and nine months ended September 30, 2019 and 2018, were as follows:

(In thousands)	Three Months Ended September 30				Nine Months Ended September 30
	2019		2018		2019		2018
Segment Net Sales
Surfactants	$	299,719	$	346,884	$	962,749	$	1,062,708
Polymers		135,089		141,646		395,904		404,446
Specialty Products		16,774		19,467		55,102		60,044
Total	$	451,582	$	507,997	$	1,413,755	$	1,527,198

Reconciliation of Segment Information to Income Before Provision for Income Taxes

Segment operating income and reconciliations of segment operating income to income before provision for income taxes for the three and nine months ended September 30, 2019 and 2018, are summarized below:

(In thousands)	Three Months Ended September 30						Nine Months Ended September 30
	2019			2018 As Adjusted			2019			2018 As Adjusted
Segment Operating Income
Surfactants(1)	$	19,660		$	28,824		$	88,913		$	104,370
Polymers(1)		23,283			19,259			58,148			56,863
Specialty Products		2,261			2,653			11,374			6,543
Segment operating income(1)		45,204			50,736			158,435			167,776
Business restructuring		(459	)		(1,715	)		(1,642	)		(2,346	)
Unallocated corporate expenses(2)		(16,779	)		(21,876	)		(58,024	)		(51,616	)
Consolidated operating income(1)		27,966			27,145			98,769			113,814
Interest expense, net		(1,402	)		(2,797	)		(5,021	)		(8,620	)
Other, net		885			346			4,265			1,990
Income before provision for income taxes(1)	$	27,449		$	24,694		$	98,013		$	107,184

⁽¹⁾ The 2018 amounts for the noted line items have been retrospectively 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.