Quarterly report pursuant to Section 13 or 15(d)

Revenue from Contracts with Customers

v3.20.2
Revenue from Contracts with Customers
 6 Months Ended
Jun. 30, 2020
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers
3. Revenue from Contracts with Customers:
Disaggregated Revenue
The Company’s primary means of disaggregating revenues is by reportable segments, which can be found in Note 18 to these condensed consolidated financial statements.
The Company’s portfolio of products are integrated into a variety of end uses, which are described in the table below.
Key End Uses Key Products
Industrial & process chemicals • Silicate precursors for the tire industry
• Glass beads, or microspheres, for metal finishing end uses
Fuels & emission control • Refinery catalysts
• Emission control catalysts
• Catalyst recycling services
• Silicate for catalyst manufacturing
Packaging & engineered plastics • Catalysts for high-density polyethlene and chemicals syntheses
• Antiblocks for film packaging
• Solid and hollow microspheres for composite plastics
• Sulfur derivatives for nylon production
Highway safety & construction • Reflective markings for roadways and airports
• Silica gels for surface coatings
Consumer products • Silica gels for edible oil and beer clarification
• Precipitated silicas, silicates and zeolites for the dentifrice and
  dishwasher and laundry detergent applications
Natural resources • Silicates for drilling muds
• Hollow glass beads, or microspheres, for oil well cements
• Silicates and alum for water treatment mining
• Bleaching aids for paper
The following tables disaggregate the Company’s sales, by segment and end use, for the three and six months ended June 30, 2020 and 2019:
Three months ended June 30, 2020
Refining
Services		 Catalysts Performance
Materials		 Performance
Chemicals		 Total
Industrial & process chemicals $ 16,713    $ 2    $ 9,314    $ 43,747    $ 69,776   
Fuels & emission control(1)
50,681    —    42    —    50,723   
Packaging & engineered plastics 7,473    25,206    13,645    9,552    55,876   
Highway safety & construction(1)
—    —    78,340    18,312    96,652   
Consumer products —    —    —    59,907    59,907   
Natural resources 15,565    —    2,862    11,123    29,550   
Total segment sales 90,432    25,208    104,203    142,641    362,484   
Eliminations (780)   (2)   (54)   (2,123)   (2,959)  
Total $ 89,652    $ 25,206    $ 104,149    $ 140,518    $ 359,525   
Three months ended June 30, 2019
Refining
Services		 Catalysts Performance
Materials		 Performance
Chemicals		 Total
Industrial & process chemicals $ 21,903    $ —    $ 12,783    $ 60,662    $ 95,348   
Fuels & emission control(1)
63,505    —    —    —    63,505   
Packaging & engineered plastics 14,067    20,857    17,595    14,344    66,863   
Highway safety & construction(1)
—    —    85,257    22,297    107,554   
Consumer products —    —    —    65,440    65,440   
Natural resources 17,815    —    3,237    15,085    36,137   
Total segment sales 117,290    20,857    118,872    177,828    434,847   
Eliminations (895)   214    (104)   (2,387)   (3,172)  
Total $ 116,395    $ 21,071    $ 118,768    $ 175,441    $ 431,675   
Six months ended June 30, 2020
Refining
Services		 Catalysts Performance
Materials		 Performance
Chemicals		 Total
Industrial & process chemicals $ 36,071    $ 49    $ 21,438    $ 103,581    $ 161,139   
Fuels & emission control(1)
106,393    —    81    —    106,474   
Packaging & engineered plastics 18,207    50,023    31,115    23,827    123,172   
Highway safety & construction(1)
—    —    110,983    38,501    149,484   
Consumer products —    —    —    123,933    123,933   
Natural resources 30,452    —    6,155    27,078    63,685   
Total segment sales 191,123    50,072    169,772    316,920    727,887   
Eliminations (1,705)   (49)   (109)   (4,901)   (6,764)  
Total $ 189,418    $ 50,023    $ 169,663    $ 312,019    $ 721,123   
Six months ended June 30, 2019
Refining
Services		 Catalysts Performance
Materials		 Performance
Chemicals		 Total
Industrial & process chemicals $ 40,305    $ 62    $ 25,812    $ 120,313    $ 186,492   
Fuels & emission control(1)
121,195    —    —    —    121,195   
Packaging & engineered plastics 26,756    36,661    34,977    29,073    127,467   
Highway safety & construction(1)
—    —    112,617    44,236    156,853   
Consumer products —    —    —    133,949    133,949   
Natural resources 34,878    —    6,555    30,719    72,152   
Total segment sales 223,134    36,723    179,961    358,290    798,108   
Eliminations (1,782)   (62)   (152)   (5,216)   (7,212)  
Total $ 221,352    $ 36,661    $ 179,809    $ 353,074    $ 790,896   

(1)As described in Note 1, the Company experiences seasonal sales fluctuations to customers in the fuels & emission control and highway safety & construction end uses.
Contract Assets and Liabilities
A contract asset is a right to consideration in exchange for goods that the Company has transferred to a customer when that right is conditional on something other than the passage of time. A contract liability exists when the Company receives consideration in advance of performance obligations. The Company has no contract assets on its condensed consolidated balance sheets as of June 30, 2020 and December 31, 2019.
The Company recognized a $9,000 contract liability associated with the sale of a portion of its sulfate salts product line in June 2019, of which $4,140 and $6,450 of deferred revenue remained as of June 30, 2020 and December 31, 2019, respectively. The Company recognized revenue of $1,035 and $2,304 related to this contract liability during the three and six months ended June 30, 2020. The Company did not recognize revenue related to this contract liability during the three and six months ended June 30, 2019. Refer to Note 7 of these condensed consolidated financial statements for additional information related to the sale of the product line.