Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2021

The Company has three reportable segments: Surfactants, Polymers and Specialty Products. Net sales by segment for the three and nine months ended September 30, 2021 and 2020, were as follows:

(In thousands)	Three Months Ended September 30				Nine Months Ended September 30
	2021		2020		2021		2020
Segment Net Sales
Surfactants	$	387,734	$	333,839	$	1,142,672	$	993,245
Polymers		198,841		116,682		539,764		335,582
Specialty Products		16,113		13,959		53,503		46,189
Total	$	602,688	$	464,480	$	1,735,939	$	1,375,016

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, 2021 and 2020, are summarized below:

(In thousands)	Three Months Ended September 30						Nine Months Ended September 30
	2021			2020			2021			2020
Segment Operating Income
Surfactants	$	34,452		$	41,151		$	133,558		$	125,810
Polymers		19,753			22,387			60,729			45,430
Specialty Products		2,442			1,593			12,052			8,803
Segment operating income		56,647			65,131			206,339			180,043
Business restructuring		(72	)		(126	)		(267	)		(708	)
Unallocated corporate expenses ⁽¹⁾		(16,362	)		(22,610	)		(55,288	)		(52,313	)
Consolidated operating income		40,213			42,395			150,784			127,022
Other Income (Expense)
Interest, net		(1,599	)		(1,626	)		(4,690	)		(4,115	)
Other, net		702			2,629			4,206			3,804
Income before provision for income taxes	$	39,316		$	43,398		$	150,300		$	126,711

(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.