Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 2022

Revenue From Contract With Customer [Abstract]

Revenue from Contracts with Customers

13. REVENUE FROM CONTRACTS WITH CUSTOMERS

As of March 31, 2022, the Company had $1,878,000 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 maintains a deferred revenue liability until the time a performance obligation has been satisfied. The Company recognized $1,376,000 of revenue in the current period from pre-existing contract liabilities at December 31, 2021. During 2020 the Company recorded $10,709,000 of long-term deferred revenue associated with a payment received to defray the cost of capital expenditures necessary to service a customer’s future product needs.  On March 31, 2022, $9,248,000 continued to be classified as long-term and $1,461,000 was classified as short-term.  This deferred revenue will be recognized over the period of the contract and no revenue has been recognized from this contract as of March 31, 2022.      

The tables below provide a geographic disaggregation of net sales for the three months ended March 31, 2022 and 2021. 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 March 31, 2022
(In thousands)
	Surfactants		Polymers		Specialty		Total
Geographic Market
North America	$	273,228	$	94,856	$	16,676	$	384,760
Europe		91,017		80,783		3,132		174,932
Latin America		85,434		1,220		123		86,777
Asia		18,587		10,220		—		28,807
Total	$	468,266	$	187,079	$	19,931	$	675,276

	For the Three Months Ended March 31, 2021
(In thousands)
	Surfactants		Polymers		Specialty		Total
Geographic Market
North America	$	220,935	$	70,878	$	13,937	$	305,750
Europe		71,094		68,300		2,482		141,876
Latin America		60,169		990		—		61,159
Asia		18,738		10,217		—		28,955
Total	$	370,936	$	150,385	$	16,419	$	537,740