Ecovyst, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Investments in Affiliated Companies (Tables)

Investments in Affiliated Companies (Tables)

12 Months Ended

Dec. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

The following table summarizes the activity related to the Company’s investments in affiliated companies balance on the consolidated balance sheets:



	Years ended December 31,
	2019			2018
Balance at beginning of period	$	468,211		$	469,276
Investments in affiliated companies	—			5,000
Equity in net income of affiliated companies	53,568			44,245
Charges related to purchase accounting fair value adjustments	(7,534		)	(6,634		)
Dividends received	(40,123		)	(40,195		)
Return of investment⁽¹⁾	—			(695		)
Foreign currency translation adjustments	(1,193		)	(2,786		)
Balance at end of period	$	472,929		$	468,211

⁽¹⁾

Amount is included within cash flows from investing activities in the Company’s consolidated statement of cash flows.

Affiliated companies accounted for on the equity method as of December 31, 2019 are as follows:



Company	Country	Percent Ownership
PQ Silicates Ltd.	Taiwan	50%
Zeolyst International	USA	50%
Zeolyst C.V.	Netherlands	50%
Quaker Holdings	South Africa	49%
Asociacion para el Estudio de las Tecnologias de Equipamiento de Carreteras, S.A. (“Aetec”)	Spain	20%

Following is summarized information of the combined investments⁽¹⁾:



	December 31,
	2019		2018
Current assets	$	249,640	$	215,416
Noncurrent assets	256,382		248,288
Current liabilities	52,811		40,536
Noncurrent liabilities	5,972		56



	Years ended December 31,
	2019		2018		2017
Sales	$	381,115	$	352,599	$	317,197
Gross profit	145,157		126,945		132,812
Operating income	106,277		88,508		91,224
Net income	107,192		88,622		94,740

⁽¹⁾

Summarized information of the combined investments is presented at 100%; the Company’s share of the net assets and net income of affiliates is calculated based on the percent ownership specified in the table above.