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

Investments in Affiliated Companies (Tables)

12 Months Ended

Dec. 31, 2018

Affiliated companies accounted for on the equity method as of December 31, 2018 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⁾:


⁽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:



	Years ended December 31,
	2018			2017
Balance at beginning of period	$	469,276		$	459,406
Acquisition	—			119
Investments in affiliated companies	5,000			9,000
Equity in net income of affiliated companies	44,245			47,371
Charges related to purchase accounting fair value adjustments	(6,634		)	(8,599		)
Dividends received	(40,890		)	(44,071		)
Foreign currency translation adjustments	(2,786		)	6,050
Balance at end of period	$	468,211		$	469,276