Annual report pursuant to Section 13 and 15(d)

SEGMENT INFORMATION

v2.4.1.9
SEGMENT INFORMATION
12 Months Ended
Dec. 31, 2014
SEGMENT INFORMATION [Abstract]  
SEGMENT INFORMATION
NOTE 18 – SEGMENT INFORMATION

As discussed in Note 1, in October 2014 we began operating in two business segments; petrochemical and specialty waxes.  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.  The accounting policies of the reporting segments are the same as those described in Note 2.

Our petrochemical segment includes South Hampton and Gulf State.  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 table below reflects only fourth quarter 2014 transactions for TC since that is the time period affected by segment reporting.

   
Year Ended December 31, 2014
 
   
Petrochemical
   
Specialty Wax
   
Corporate
   
Consolidated
 
   
(in thousands)
 
Net revenues
  $ 284,345     $ 5,298     $ -     $ 289,643  
Operating profit before depreciation and amortization
    37,083       16       (6,412 )     30,687  
Operating profit (loss)
    33,019       (1,125 )     (6,412 )     25,482  
Depreciation and amortization
    4,064       1,141       -       5,205  
Capital expenditures
    13,986       780               14,766  
 
   
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