Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2022

The Company has three reportable segments: Surfactants, Polymers and Specialty Products. Net sales by segment for the three and six months ended June 30, 2022 and 2021, were as follows:

(In thousands)	Three Months Ended June 30				Six Months Ended June 30
	2022		2021		2022		2021
Segment Net Sales
Surfactants	$	485,084	$	384,002	$	953,350	$	754,938
Polymers		238,885		190,538		425,964		340,923
Specialty Products		27,664		20,971		47,595		37,390
Total	$	751,633	$	595,511	$	1,426,909	$	1,133,251

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 six months ended June 30, 2022 and 2021, are summarized below:

(In thousands)	Three Months Ended June 30						Six Months Ended June 30
	2022			2021			2022			2021
Segment Operating Income
Surfactants	$	48,249		$	45,896		$	102,018		$	99,106
Polymers		33,912			23,025			48,041			40,976
Specialty Products		9,866			6,977			13,561			9,610
Segment operating income		92,027			75,898			163,620			149,692
Business restructuring		(81	)		(114	)		(133	)		(195	)
Unallocated corporate expenses ⁽¹⁾		(14,306	)		(19,127	)		(22,501	)		(38,926	)
Consolidated operating income		77,640			56,657			140,986			110,571
Other Income (Expense)
Interest, net		(2,727	)		(1,567	)		(5,033	)		(3,091	)
Other, net		(5,369	)		2,758			(7,019	)		3,504
Income before provision for income taxes	$	69,544		$	57,848		$	128,934		$	110,984

(1)

Unallocated corporate expenses are primarily comprised of 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 are not used to evaluate segment performance.