| SEGMENT INFORMATION |
12. SEGMENT INFORMATION
We operate through business segments according to the nature and economic characteristics of our products as well as the manner in which the information is used internally by our key decision maker, who is our Chief Executive Officer.
Our petrochemical segment includes SHR and GSPL. Our specialty wax segment includes TC. We also separately identify our corporate overhead and investing which includes financing and administrative activities such as legal, accounting, consulting, investor relations, officer and director compensation, corporate insurance, and other administrative costs.
The tables below reflect only 2015 transactions for TC since that is the time period affected by segment reporting due to the acquisition closing in the fourth quarter of 2014.
| |
|
Three Months Ended June 30, 2015 |
|
| |
|
Petrochemical |
|
|
Specialty Wax |
|
|
Corporate |
|
|
Consolidated |
|
| |
|
(in thousands) |
|
Product sales |
|
$ |
52,342 |
|
|
$ |
4,323 |
|
|
$ |
- |
|
|
$ |
56,665 |
|
Processing fees |
|
|
1,521 |
|
|
|
1,164 |
|
|
|
- |
|
|
|
2,685 |
|
Net revenues |
|
|
53,863 |
|
|
|
5,487 |
|
|
|
- |
|
|
|
59,350 |
|
Operating profit before depreciation and amortization |
|
|
12,850 |
|
|
|
430 |
|
|
|
(1,679 |
) |
|
|
11,601 |
|
Operating profit (loss) |
|
|
11,902 |
|
|
|
(732 |
) |
|
|
(1,679 |
) |
|
|
9,491 |
|
Depreciation and amortization |
|
|
949 |
|
|
|
1,161 |
|
|
|
- |
|
|
|
2,110 |
|
Capital expenditures |
|
|
6,204 |
|
|
|
2,903 |
|
|
|
|
|
|
|
9,107 |
|
| |
|
Six Months Ended June 30, 2015 |
|
| |
|
Petrochemical |
|
|
Specialty Wax |
|
|
Corporate |
|
|
Consolidated |
|
| |
|
(in thousands) |
|
Product sales |
|
$ |
99,525 |
|
|
$ |
7,681 |
|
|
$ |
- |
|
|
$ |
107,206 |
|
Processing fees |
|
|
3,045 |
|
|
|
4,242 |
|
|
|
- |
|
|
|
7,287 |
|
Net revenues |
|
|
102,570 |
|
|
|
11,923 |
|
|
|
- |
|
|
|
114,493 |
|
Operating profit before depreciation and amortization |
|
|
24,562 |
|
|
|
2,504 |
|
|
|
(3,491 |
) |
|
|
23,575 |
|
Operating profit (loss) |
|
|
22,519 |
|
|
|
196 |
|
|
|
(3,491 |
) |
|
|
19,224 |
|
Depreciation and amortization |
|
|
2,044 |
|
|
|
2,307 |
|
|
|
- |
|
|
|
4,351 |
|
Capital expenditures |
|
|
13,019 |
|
|
|
3,831 |
|
|
|
|
|
|
|
16,850 |
|
| |
|
June 30, 2015 |
|
| |
|
Petrochemical |
|
|
Specialty Wax |
|
|
Corporate |
|
|
Eliminations |
|
|
Consolidated |
|
| |
|
(in thousands) |
|
Goodwill and intangible assets, net |
|
$ |
- |
|
|
$ |
47,091 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
47,091 |
|
Total assets |
|
|
180,025 |
|
|
|
82,399 |
|
|
|
100,516 |
|
|
|
(123,996 |
) |
|
|
238,944 |
|
| |
|
Year Ended December 31, 2014 |
|
| |
|
Petrochemical |
|
|
Specialty Wax |
|
|
Corporate |
|
|
Eliminations |
|
|
Consolidated |
|
| |
|
(in thousands) |
|
Goodwill and intangible assets, net |
|
$ |
- |
|
|
$ |
47,985 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
47,985 |
|
Total assets |
|
|
172,945 |
|
|
|
79,135 |
|
|
|
99,360 |
|
|
|
(119,366 |
) |
|
|
232,074 |
|
|