Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION

v3.20.2
SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
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 Petrochemicals segment includes SHR and GSPL. Our Specialty Waxes segment is TC. We also separately identify our corporate overhead which includes administrative activities such as legal, accounting, consulting, investor relations, officer and director compensation, corporate insurance, and other administrative costs.

 
Three Months Ended June 30, 2020
 
Specialty Petrochemicals

 
Specialty Waxes

 
Corporate

 
Eliminations

 
Consolidated

 
(in thousands)
Product sales
$
31,236

 
$
5,471

 
$
—

 
$
—

 
$
36,707

Processing fees
1,159

 
2,808

 
—

 
—

 
3,967

Total revenues
32,395

 
8,279

 
—

 
—

 
40,674

Operating income (loss) before depreciation and amortization
4,974

 
854

 
(2,199
)
 
—

 
3,629

Operating income (loss)
2,354

 
(485
)
 
(2,203
)
 
—

 
(334
)
Income (loss) from continuing operations before taxes
1,648

 
(445
)
 
(2,204
)
 
—

 
(1,001
)
Depreciation and amortization
2,621

 
1,338

 
3

 
—

 
3,962

Capital expenditures
5,382

 
285

 
—

 
—

 
5,667

 
Three Months Ended June 30, 2019
 
Specialty Petrochemicals

 
Specialty Waxes

 
Corporate

 
Eliminations

 
Consolidated

 
(in thousands)
Product sales
$
58,584

 
$
6,745

 
$
—

 
—

 
$
65,329

Processing fees
1,527

 
2,515

 
—

 
—

 
4,042

Total revenues
60,111

 
9,260

 
—

 
—

 
69,371

Operating income (loss) before depreciation and amortization
10,028

 
766

 
(2,128
)
 
—

 
8,666

Operating income (loss)
7,104

 
(633
)
 
(2,156
)
 
—

 
4,315

Income (loss) from continuing operations before taxes
6,375

 
(1,013
)
 
(2,164
)
 
—

 
3,198

Depreciation and amortization
2,925

 
1,399

 
12

 
—

 
4,336

Capital expenditures
1,461

 
426

 
—

 
—

 
1,887

 
Six Months Ended June 30, 2020
 
Specialty Petrochemicals

 
Specialty Waxes

 
Corporate

 
Eliminations

 
Consolidated

 
(in thousands)
Product sales
$
81,622

 
$
12,268

 
$
—

 
$
—

 
$
93,890

Processing fees
2,403

 
6,448

 
—

 
—

 
8,851

Total revenues
84,025

 
18,716

 
—

 
—

 
102,741

Operating income (loss) before depreciation and amortization
11,464

 
1,920

 
(4,615
)
 
—

 
8,769

Operating income (loss)
6,226

 
(747
)
 
(4,625
)
 
—

 
854

Income (loss) from continuing operations before taxes
4,590

 
(687
)
 
(4,694
)
 
—

 
(791
)
Depreciation and amortization
5,238

 
2,666

 
10

 
—

 
7,914

Capital expenditures
6,983

 
601

 
—

 
—

 
7,584

 
Six Months Ended June 30, 2019
 
Specialty Petrochemicals

 
Specialty Waxes

 
Corporate

 
Eliminations

 
Consolidated

 
(in thousands)
Product sales
$
114,074

 
$
12,748

 
$
—

 
—

 
$
126,822

Processing fees
2,910

 
4,794

 
—

 
—

 
7,704

Total revenues
116,984

 
17,542

 
—

 
—

 
134,526

Operating income (loss) before depreciation and amortization
21,435

 
(83
)
 
(4,433
)
 
—

 
16,919

Operating income (loss)
15,437

 
(2,830
)
 
(4,466
)
 
—

 
8,141

Income (loss) from continuing operations before taxes
13,510

 
(3,552
)
 
(4,456
)
 
—

 
5,502

Depreciation and amortization
5,999

 
2,747

 
32

 
—

 
8,778

Capital expenditures
2,839

 
935

 
—

 
—

 
3,774

 
June 30, 2020
 
Specialty Petrochemicals

 
Specialty Waxes

 
Corporate

 
Eliminations

 
Consolidated

 
(in thousands)
Trade receivables, product sales
$
14,934

 
$
3,005

 
$
—

 
$
—

 
$
17,939

Trade receivables, processing fees
927

 
1,374

 
—

 
—

 
2,301

Intangible assets, net
—

 
13,814

 
—

 
—

 
13,814

Total assets
300,996

 
87,755

 
101,714

 
(168,588
)
 
321,877

 
December 31, 2019
 
Specialty Petrochemicals

 
Specialty Waxes

 
Corporate

 
Eliminations

 
Consolidated

 
(in thousands)
Trade receivables, product sales
$
18,911

 
$
3,613

 
$
—

 
$
—

 
$
22,524

Trade receivables, processing fees
748

 
3,048

 
—

 
—

 
3,796

Intangible assets, net
—

 
14,736

 
—

 
—

 
14,736

Total assets
289,546

 
88,245

 
90,203

 
(166,175
)
 
301,819