Annual report pursuant to Section 13 and 15(d)

SEGMENT INFORMATION

v3.3.1.900
SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2015
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 SHR and GSPL.  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 full year 2015.

   
Year Ended December 31, 2015
  
   
Petrochemical
    
Specialty Wax
    
Corporate
    
Consolidated
  
   
(in thousands)
  
Net revenues
  
$
218,233
    
$
23,743
    
$
-
    
$
241,976
  
Operating profit before depreciation and amortization
    
47,565
      
4,549
      
(7,013
)
    
45,101
  
Operating profit (loss)
    
43,081
      
(1
)
    
(7,039
)
    
36,041
  
Depreciation and amortization
    
4,484
      
4,550
      
26
      
9,060
  
Capital expenditures
    
24,358
      
6,889
      
-
      
31,247
  

         
Year Ended December 31, 2015
  
   
Petrochemical
    
Specialty Wax
    
Corporate
    
Eliminations
    
Consolidated
  
         
(in thousands)
  
Goodwill and intangible assets, net
  
$
-
    
$
46,347
    
$
-
    
$
-
    
$
46,347
  
Total assets
    
196,378
      
86,076
      
98,728
      
(122,371
)
    
258,811
  

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
      
1,612
      
-
      
5,676
  
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