| SEGMENT INFORMATION |
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 specialty petrochemical segment includes SHR and GSPL. Our specialty synthetic wax segment is 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.
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Three Months Ended September 30, 2018 |
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Petrochemical |
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Specialty Wax |
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Corporate |
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Eliminations |
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Consolidated |
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(in thousands) |
Product sales |
$ |
61,675 |
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$ |
6,938 |
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$ |
— |
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$ |
— |
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$ |
68,613 |
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Processing fees |
2,056 |
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|
2,799 |
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— |
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(52 |
) |
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4,803 |
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Total revenues |
63,731 |
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|
9,737 |
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— |
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(52 |
) |
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73,416 |
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Operating profit (loss) before depreciation and amortization |
6,167 |
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|
415 |
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(2,252 |
) |
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— |
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|
4,330 |
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Operating profit (loss) |
3,516 |
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(936 |
) |
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(2,270 |
) |
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— |
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|
310 |
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Profit (loss) before taxes |
2,561 |
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(1,239 |
) |
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(3,404 |
) |
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— |
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(2,082 |
) |
Depreciation and amortization |
2,651 |
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|
1,351 |
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16 |
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— |
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|
4,018 |
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Capital expenditures |
2,562 |
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|
1,094 |
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— |
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— |
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3,656 |
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Three Months Ended September 30, 2017 |
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Petrochemical |
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Specialty Wax |
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Corporate |
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Eliminations |
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Consolidated |
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(in thousands) |
Product sales |
$ |
52,440 |
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$ |
5,590 |
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$ |
— |
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— |
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$ |
58,030 |
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Processing fees |
1,519 |
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|
1,959 |
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— |
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— |
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|
3,478 |
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Total revenues |
53,959 |
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|
7,549 |
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— |
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— |
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|
61,508 |
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Operating profit (loss) before depreciation and amortization |
9,319 |
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(587 |
) |
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(1,957 |
) |
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— |
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|
6,775 |
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Operating profit (loss) |
7,735 |
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(1,795 |
) |
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(1,975 |
) |
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— |
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|
3,965 |
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Profit (loss) before taxes |
7,149 |
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(1,975 |
) |
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(2,879 |
) |
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— |
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|
2,295 |
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Depreciation and amortization |
1,584 |
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|
1,208 |
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18 |
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— |
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2,810 |
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Capital expenditures |
9,426 |
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|
1,991 |
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— |
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— |
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11,417 |
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Nine Months Ended September 30, 2018 |
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Petrochemical |
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Specialty Wax |
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Corporate |
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Eliminations |
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Consolidated |
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(in thousands) |
Product sales |
$ |
178,094 |
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$ |
20,755 |
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$ |
— |
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$ |
32 |
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$ |
198,881 |
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Processing fees |
5,769 |
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|
8,863 |
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— |
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(250 |
) |
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14,382 |
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Total revenues |
183,863 |
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|
29,618 |
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— |
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(218 |
) |
|
213,263 |
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Operating profit (loss) before depreciation and amortization |
20,655 |
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|
1,969 |
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(5,234 |
) |
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— |
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|
17,390 |
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Operating profit (loss) |
14,635 |
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(2,051 |
) |
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(5,268 |
) |
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— |
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|
7,316 |
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Profit (loss) before taxes |
12,474 |
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(2,926 |
) |
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(5,877 |
) |
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— |
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|
3,671 |
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Depreciation and amortization |
6,020 |
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|
4,020 |
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32 |
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— |
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10,072 |
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Capital expenditures |
16,374 |
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|
2,716 |
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— |
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— |
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19,090 |
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Nine Months Ended September 30, 2017 |
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Petrochemical |
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Specialty Wax |
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Corporate |
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Eliminations |
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Consolidated |
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(in thousands) |
Product sales |
$ |
147,339 |
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$ |
18,606 |
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$ |
— |
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— |
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$ |
165,945 |
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Processing fees |
5,078 |
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|
8,142 |
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— |
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— |
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|
13,220 |
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Total revenues |
152,417 |
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|
26,748 |
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— |
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— |
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|
179,165 |
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Operating profit (loss) before depreciation and amortization |
26,294 |
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|
969 |
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(5,978 |
) |
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— |
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|
21,285 |
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Operating profit (loss) |
21,610 |
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(2,264 |
) |
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(6,027 |
) |
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— |
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|
13,319 |
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Profit (loss) before taxes |
19,750 |
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(2,534 |
) |
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(11,209 |
) |
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— |
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|
6,007 |
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Depreciation and amortization |
4,684 |
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|
3,233 |
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49 |
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— |
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7,966 |
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Capital expenditures |
27,203 |
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|
12,047 |
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— |
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— |
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39,250 |
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September 30, 2018 |
|
Petrochemical |
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Specialty Wax |
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Corporate |
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Eliminations |
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Consolidated |
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(in thousands) |
Trade receivables, product sales |
$ |
22,600 |
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$ |
3,896 |
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$ |
— |
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$ |
— |
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$ |
26,496 |
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Trade receivables, processing fees |
1,165 |
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|
2,126 |
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— |
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— |
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|
3,291 |
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Goodwill and intangible assets, net |
— |
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|
41,210 |
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— |
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— |
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|
41,210 |
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Total assets |
282,094 |
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|
115,146 |
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|
91,647 |
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(154,138 |
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334,749 |
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December 31, 2017 |
|
Petrochemical |
|
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Specialty Wax |
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Corporate |
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Eliminations |
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Consolidated |
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(in thousands) |
Trade receivables, product sales |
$ |
20,211 |
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$ |
2,671 |
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$ |
— |
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$ |
— |
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$ |
22.882 |
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Trade receivables, processing fees |
983 |
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|
1,914 |
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— |
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— |
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|
2,897 |
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Goodwill and intangible assets, net |
— |
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|
42,606 |
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— |
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— |
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|
42,606 |
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Total assets |
265,213 |
|
|
117,579 |
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|
97,880 |
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(153,346 |
) |
|
327,326 |
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