The Company deems a contract with a customer to exist when a purchase order is received from a customer for a specified quantity of product or products and the Company acknowledges receipt of such purchase order. In some instances the Company has entered into manufacturing supply agreements with customers but these agreements typically do not bind a customer to any purchase volume requirements and thus an obligation is not created until the customer submits a purchase order to the Company. The Company’s contracts typically have a single performance obligation that is satisfied at the time a product is shipped and control passes to the customer. For a small portion of the business, performance obligations are deemed satisfied when product is delivered to a customer location.

As of June 30, 2020, the Company had $593,000 of contract liabilities and no contract assets. A contract liability would typically arise when an advance or deposit is received from a customer before the Company recognizes revenue. In practice, this is rare as it would require a customer to make a payment prior to a performance obligation being satisfied. When such situations do arise, the Company would maintain a deferred revenue liability until the time a performance obligation has been satisfied. The Company recognized $350,000 of revenue in the first six months of 2020 from pre-existing contract liabilities at December 31, 2019.

The tables below provide a geographic disaggregation of net sales for the three and six months ended June 30, 2020 and 2019. The Company’s business segmentation by geographic region most effectively captures the nature and economic characteristics of the Company’s revenue streams impacted by economic factors.

	For the Three Months Ended June 30, 2020
(In thousands)
	Surfactants		Polymers		Specialty Products		Total
Geographic Market
North America	$	207,571	$	68,780	$	13,329	$	289,680
Europe		55,812		32,692		2,476		90,980
Latin America		56,194		463		—		56,657
Asia		12,758		10,474		—		23,232
Total	$	332,335	$	112,409	$	15,805	$	460,549

	For the Three Months Ended June 30, 2019
(In thousands)
	Surfactants		Polymers		Specialty Products		Total
Geographic Market
North America	$	191,720	$	86,434	$	16,067	$	294,221
Europe		54,360		44,085		2,920		101,365
Latin America		53,957		1,450		—		55,407
Asia		13,343		8,667		—		22,010
Total	$	313,380	$	140,636	$	18,987	$	473,003

	For the Six Months Ended June 30, 2020
(In thousands)
	Surfactants		Polymers		Specialty Products		Total
Geographic Market
North America	$	415,517	$	130,621	$	26,823	$	572,961
Europe		115,472		69,252		5,407		190,131
Latin America		102,704		1,102		—		103,806
Asia		25,713		17,925		—		43,638
Total	$	659,406	$	218,900	$	32,230	$	910,536

	For the Six Months Ended June 30, 2019
(In thousands)
	Surfactants		Polymers		Specialty Products		Total
Geographic Market
North America	$	406,017	$	157,757	$	32,092	$	595,866
Europe		125,838		86,190		6,236		218,264
Latin America		104,769		1,647		—		106,416
Asia		26,406		15,221		—		41,627
Total	$	663,030	$	260,815	$	38,328	$	962,173