Annual report pursuant to Section 13 and 15(d)

Investments in Affiliated Companies (Tables)

v3.24.0.1
Investments in Affiliated Companies (Tables)
 12 Months Ended
Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments Affiliated companies accounted for on the equity basis as of December 31, 2023 are as follows:
Company  Country  Percent
Ownership 
Zeolyst International USA 50%
Zeolyst C.V. Netherlands 50%
Following is summarized information of the combined investments(1):
  December 31,
  2023 2022
Current assets $ 291,825  $ 278,330 
Noncurrent assets 183,717  196,775 
Current liabilities 36,799  47,407 
Noncurrent liabilities 5,797  16,000 
December 31,
2023 2022 2021
Sales $ 345,002  $ 306,511  $ 296,416 
Gross profit 107,865  105,693  101,069 
Operating income 70,783  67,169  66,978 
Net income 74,053  68,255  68,433 
(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.
The following table summarizes the activity related to the Company’s investments in affiliated companies balance on the consolidated balance sheets:
December 31,
2023 2022
Balance at beginning of period $ 436,013  $ 446,074 
Equity in net income of affiliated companies 37,027  34,128 
Charges related to purchase accounting fair value adjustments (6,403) (6,402)
Dividends received (28,000) (35,000)
Foreign currency translation adjustments 1,561  (2,787)
Balance at end of period $ 440,198  $ 436,013