Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION

v3.7.0.1
SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2017
SEGMENT INFORMATION [Abstract]  
SEGMENT INFORMATION
13. 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 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