Segment Reporting

6 Months Ended

Jun. 30, 2020

12.	SEGMENT REPORTING

The Company has three reportable segments: Surfactants, Polymers and Specialty Products. Net sales by segment for the three and six months ended June 30, 2020 and 2019, were as follows:

(In thousands)	Three Months Ended June 30				Six Months Ended June 30
	2020		2019		2020		2019
Segment Net Sales
Surfactants	$	332,335	$	313,380	$	659,406	$	663,030
Polymers		112,409		140,636		218,900		260,815
Specialty Products		15,805		18,987		32,230		38,328
Total	$	460,549	$	473,003	$	910,536	$	962,173

Segment operating income and reconciliations of segment operating income to income before provision for income taxes for the three and six months ended June 30, 2020 and 2019, are summarized below:

(In thousands)	Three Months Ended June 30						Six Months Ended June 30
	2020			2019			2020			2019
Segment Operating Income
Surfactants	$	48,503		$	32,086		$	84,659		$	69,253
Polymers		15,527			22,760			23,043			34,865
Specialty Products		3,226			5,982			7,210			9,113
Segment operating income		67,256			60,828			114,912			113,231
Business restructuring		(225	)		(450	)		(582	)		(1,183	)
Unallocated corporate expenses ⁽¹⁾		(22,408	)		(19,313	)		(29,703	)		(41,245	)
Consolidated operating income		44,623			41,065			84,627			70,803
Interest expense, net		(1,259	)		(1,766	)		(2,489	)		(3,619	)
Other, net		4,437			235			1,175			3,380
Income before provision for income taxes	$	47,801		$	39,534		$	83,313		$	70,564

(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.