Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION

v3.7.0.1
SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2016
SEGMENT INFORMATION [Abstract]  
SEGMENT INFORMATION
14. 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.  Segment data may include rounding differences.

Our petrochemical segment includes SHR and GSPL.  Our specialty wax segment includes TC which includes the newly acquired plant discussed in Note 7.  We also separately identify our corporate overhead which includes financing and administrative activities such as legal, accounting, consulting, investor relations, officer and director compensation, corporate insurance, and other administrative costs.


   
Three Months Ended September 30, 2016
  
   
Petrochemical
    
Specialty Wax
    
Corporate
    
Consolidated
  
   
(in thousands)
  
Product sales
  
$
47,250
    
$
4,864
    
$
-
    
$
52,114
  
Processing fees
    
2,909
      
2,119
      
-
      
5,028
  
Net revenues
    
50,159
      
6,983
      
-
      
57,142
  
Operating profit (loss) before depreciation and amortization
    
7,813
      
118
      
(1,238
)
    
6,693
  
Operating profit (loss)
    
6,366
      
(987
)
    
(1,251
)
    
4,128
  
Depreciation and amortization
    
1,447
      
1,105
      
13
      
2,565
  
Capital expenditures
    
5,411
      
4,066
              
9,477
  

   
Nine Months Ended September 30, 2016
  
   
Petrochemical
    
Specialty Wax
    
Corporate
    
Consolidated
  
   
(in thousands)
  
Product sales
  
$
129,076
    
$
14,585
    
$
-
    
$
143,661
  
Processing fees
    
6,769
      
7,766
      
-
      
14,535
  
Net revenues
    
135,845
      
22,351
      
-
      
158,196
  
Operating profit (loss) before depreciation and amortization
    
25,699
      
2,774
      
(5,128
)
    
23,345
  
Operating profit (loss)
    
21,488
      
(171
)
    
(5,148
)
    
16,169
  
Depreciation and amortization
    
4,211
      
2,945
      
20
      
7,176
  
Capital expenditures
    
16,812
      
11,059
              
27,871
  
 
   
Three Months Ended September 30, 2015
  
   
Petrochemical
    
Specialty Wax
    
Corporate
    
Consolidated
  
   
(in thousands)
  
Product sales
  
$
59,122
    
$
4,068
    
$
-
    
$
63,190
  
Processing fees
    
1,364
      
2,384
      
-
      
3,748
  
Net revenues
    
60,486
      
6,452
      
-
      
66,938
  
Operating profit (loss) before depreciation and amortization
    
13,636
      
1,393
      
(1,654
)
    
13,375
  
Operating profit (loss)
    
12,557
      
178
      
(1,672
)
    
11,063
  
Depreciation and amortization
    
1,079
      
1,215
      
18
      
2,312
  
Capital expenditures
    
4,857
      
1,766
              
6,623
  

   
Nine Months Ended September 30, 2015
  
   
Petrochemical
    
Specialty Wax
    
Corporate
    
Consolidated
  
   
(in thousands)
  
Product sales
  
$
158,647
    
$
11,749
    
$
-
    
$
170,396
  
Processing fees
    
4,409
      
6,626
      
-
      
11,035
  
Net revenues
    
163,056
      
18,375
      
-
      
181,431
  
Operating profit (loss) before depreciation and amortization
    
38,197
      
3,897
      
(5,145
)
    
36,949
  
Operating profit (loss)
    
35,075
      
375
      
(5,163
)
    
30,287
  
Depreciation and amortization
    
3,122
      
3,522
      
18
      
6,662
  
Capital expenditures
    
17,876
      
5,664
              
23,540
  


   
September 30, 2016 (restated)
 
   
Petrochemical
    
Specialty Wax
    
Corporate
    
Eliminations
    
Consolidated
  
   
(in thousands)
  
Goodwill and intangible assets, net
  
$
-
    
$
44,932
    
$
-
    
$
-
    
$
44,932
  
Total assets
    
209,319
      
104,924
      
100,615
      
(131,352
)
    
283,506
  

   
Year Ended December 31, 2015
  
   
Petrochemical
    
Specialty Wax
    
Corporate
    
Eliminations
    
Consolidated
  
   
(in thousands)
  
Goodwill and intangible assets, net
  
$
-
    
$
46,347
    
$
-
    
$
-
    
$
46,347
  
Total assets
    
195,358
      
86,076
      
98,728
      
(122,371
)
    
257,791