| Segment Information |
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 |
|
|