Segment Information |
Our petrochemical segment includes SHR and GSPL. Our specialty wax segment includes TC. 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 June 30, 2017 |
|
|
|
Petrochemical |
|
|
Specialty Wax |
|
|
Corporate |
|
|
Consolidated |
|
|
|
(in thousands) |
|
Product sales |
|
$ |
50,508 |
|
|
$ |
6,508 |
|
|
$ |
- |
|
|
$ |
57,016 |
|
Processing fees |
|
|
2,071 |
|
|
|
3,028 |
|
|
|
- |
|
|
|
5,099 |
|
Total revenues |
|
|
52,579 |
|
|
|
9,536 |
|
|
|
- |
|
|
|
62,115 |
|
Operating profit (loss) before depreciation and amortization |
|
|
8,761 |
|
|
|
810 |
|
|
|
(1,841 |
) |
|
|
7,730 |
|
Operating profit (loss) |
|
|
7,217 |
|
|
|
(198 |
) |
|
|
(1,857 |
) |
|
|
5,162 |
|
Profit (loss) before taxes |
|
|
6,598 |
|
|
|
(269 |
) |
|
|
(5,165 |
) |
|
|
1,164 |
|
Depreciation and amortization |
|
|
1,544 |
|
|
|
1,008 |
|
|
|
16 |
|
|
|
2,568 |
|
Capital expenditures |
|
|
9,021 |
|
|
|
4,931 |
|
|
|
- |
|
|
|
13,952 |
|
|
|
Six Months Ended June 30, 2017 |
|
|
|
Petrochemical |
|
|
Specialty Wax |
|
|
Corporate |
|
|
Consolidated |
|
|
|
(in thousands) |
|
Product sales |
|
$ |
94,899 |
|
|
$ |
13,016 |
|
|
$ |
- |
|
|
$ |
107,915 |
|
Processing fees |
|
|
3,559 |
|
|
|
6,183 |
|
|
|
- |
|
|
|
9,742 |
|
Total revenues |
|
|
98,458 |
|
|
|
19,199 |
|
|
|
- |
|
|
|
117,657 |
|
Operating profit (loss) before depreciation and amortization |
|
|
16,975 |
|
|
|
1,555 |
|
|
|
(4,020 |
) |
|
|
14,510 |
|
Operating profit (loss) |
|
|
13,875 |
|
|
|
(469 |
) |
|
|
(4,052 |
) |
|
|
9,354 |
|
Profit (loss) before taxes |
|
|
12,601 |
|
|
|
(559 |
) |
|
|
(8,330 |
) |
|
|
3,712 |
|
Depreciation and amortization |
|
|
3,100 |
|
|
|
2,024 |
|
|
|
32 |
|
|
|
5,156 |
|
Capital expenditures |
|
|
17,777 |
|
|
|
10,056 |
|
|
|
- |
|
|
|
27,833 |
|
|
|
Three Months Ended June 30, 2016 |
|
|
|
Petrochemical |
|
|
Specialty Wax |
|
|
Corporate |
|
|
Consolidated |
|
|
|
(in thousands) |
|
Product sales |
|
$ |
39,202 |
|
|
$ |
5,164 |
|
|
$ |
- |
|
|
$ |
44,366 |
|
Processing fees |
|
|
2,419 |
|
|
|
2,069 |
|
|
|
- |
|
|
|
4,488 |
|
Total revenues |
|
|
41,621 |
|
|
|
7,233 |
|
|
|
- |
|
|
|
48,854 |
|
Operating profit (loss) before depreciation and amortization |
|
|
9,476 |
|
|
|
584 |
|
|
|
(1,949 |
) |
|
|
8,111 |
|
Operating profit (loss) |
|
|
8,048 |
|
|
|
(196 |
) |
|
|
(1,956 |
) |
|
|
5,896 |
|
Profit (loss) before taxes* |
|
|
7,435 |
|
|
|
11,484 |
|
|
|
(2,975 |
) |
|
|
15,944 |
|
Depreciation and amortization |
|
|
1,428 |
|
|
|
780 |
|
|
|
7 |
|
|
|
2,215 |
|
Capital expenditures |
|
|
5,739 |
|
|
|
5,053 |
|
|
|
|
|
|
|
10,792 |
|
*Profit (loss) before taxes for the specialty wax segment includes a bargain purchase gain of $11.5 million.
|
|
Six Months Ended June 30, 2016 |
|
|
|
Petrochemical |
|
|
Specialty Wax |
|
|
Corporate |
|
|
Consolidated |
|
|
|
(in thousands) |
|
Product sales |
|
$ |
81,826 |
|
|
$ |
9,721 |
|
|
$ |
- |
|
|
$ |
91,547 |
|
Processing fees |
|
|
3,860 |
|
|
|
5,647 |
|
|
|
- |
|
|
|
9,507 |
|
Total revenues |
|
|
85,686 |
|
|
|
15,368 |
|
|
|
- |
|
|
|
101,054 |
|
Operating profit (loss) before depreciation and amortization |
|
|
17,886 |
|
|
|
2,647 |
|
|
|
(3,881 |
) |
|
|
16,652 |
|
Operating profit (loss) |
|
|
15,122 |
|
|
|
816 |
|
|
|
(3,897 |
) |
|
|
12,041 |
|
Profit before taxes* |
|
|
13,884 |
|
|
|
12,490 |
|
|
|
441 |
|
|
|
26,815 |
|
Depreciation and amortization |
|
|
2,764 |
|
|
|
1,831 |
|
|
|
16 |
|
|
|
4,611 |
|
Capital expenditures |
|
|
11,401 |
|
|
|
6,993 |
|
|
|
|
|
|
|
18,394 |
|
*Profit (loss) before taxes for the specialty wax segment includes a bargain purchase gain of $11.5 million.
|
|
June 30, 2017 |
|
|
|
Petrochemical |
|
|
Specialty Wax |
|
|
Corporate |
|
|
Eliminations |
|
|
Consolidated |
|
|
|
(in thousands) |
|
Goodwill and intangible assets, net |
|
$ |
- |
|
|
$ |
43,536 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
43,536 |
|
Total assets |
|
|
237,529 |
|
|
|
117,640 |
|
|
|
98,153 |
|
|
|
(152,180 |
) |
|
|
301,142 |
|
|
|
Year Ended December 31, 2016 |
|
|
|
Petrochemical |
|
|
Specialty Wax |
|
|
Corporate |
|
|
Eliminations |
|
|
Consolidated |
|
|
|
(in thousands) |
|
Goodwill and intangible assets, net |
|
$ |
- |
|
|
$ |
44,467 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
44,467 |
|
Total assets |
|
|
219,376 |
|
|
|
113,676 |
|
|
|
106,428 |
|
|
|
(148,996 |
) |
|
|
290,484 |
|
|