Segment Information (Tables)
|
12 Months Ended |
Dec. 31, 2020 |
|---|
| Segment Reporting [Abstract] |
|
| Summary of Results of Segment Operations |
The following table sets forth certain sales and operating data, net of all intersegment transactions, for our segments for the periods indicated:
|
|
|
Year Ended December 31, |
|
|
|
|
2020 |
|
|
2019 |
|
|
2018 |
|
|
(Dollars in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from external customers: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Railroad and Utility Products and Services |
|
$ |
759.1 |
|
|
$ |
733.5 |
|
|
$ |
634.8 |
|
|
Performance Chemicals |
|
|
526.3 |
|
|
|
448.3 |
|
|
|
420.0 |
|
|
Carbon Materials and Chemicals(a) |
|
|
383.7 |
|
|
|
455.2 |
|
|
|
507.9 |
|
|
Total |
|
$ |
1,669.1 |
|
|
$ |
1,637.0 |
|
|
$ |
1,562.7 |
|
|
Intersegment revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Performance Chemicals |
|
$ |
13.7 |
|
|
$ |
12.6 |
|
|
$ |
10.8 |
|
|
Carbon Materials and Chemicals |
|
|
78.7 |
|
|
|
75.2 |
|
|
|
77.3 |
|
|
Total |
|
$ |
92.4 |
|
|
$ |
87.8 |
|
|
$ |
88.1 |
|
|
Depreciation and amortization expense: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Railroad and Utility Products and Services |
|
$ |
20.1 |
|
|
$ |
19.4 |
|
|
$ |
17.7 |
|
|
Performance Chemicals |
|
|
18.1 |
|
|
|
18.3 |
|
|
|
17.8 |
|
|
Carbon Materials and Chemicals(b) |
|
|
15.9 |
|
|
|
13.7 |
|
|
|
11.4 |
|
|
Total |
|
$ |
54.1 |
|
|
$ |
51.4 |
|
|
$ |
46.9 |
|
|
Operating profit (loss): |
|
|
|
|
|
|
|
|
|
|
|
|
|
Railroad and Utility Products and Services(c) |
|
$ |
46.7 |
|
|
$ |
35.8 |
|
|
$ |
5.9 |
|
|
Performance Chemicals |
|
|
88.6 |
|
|
|
52.1 |
|
|
|
36.2 |
|
|
Carbon Materials and Chemicals(d) |
|
|
23.4 |
|
|
|
39.2 |
|
|
|
44.7 |
|
|
Corporate(e) |
|
|
(2.0 |
) |
|
|
(2.1 |
) |
|
|
(2.4 |
) |
|
Total |
|
$ |
156.7 |
|
|
$ |
125.0 |
|
|
$ |
84.4 |
|
|
Capital expenditures (excluding acquisitions): |
|
|
|
|
|
|
|
|
|
|
|
|
|
Railroad and Utility Products and Services |
|
$ |
31.3 |
|
|
$ |
11.6 |
|
|
$ |
19.2 |
|
|
Performance Chemicals |
|
|
12.1 |
|
|
|
9.7 |
|
|
|
15.1 |
|
|
Carbon Materials and Chemicals(f) |
|
|
24.8 |
|
|
|
15.5 |
|
|
|
73.5 |
|
|
Corporate |
|
|
1.6 |
|
|
|
0.4 |
|
|
|
1.9 |
|
|
Total |
|
$ |
69.8 |
|
|
$ |
37.2 |
|
|
$ |
109.7 |
|
|
(a) |
Revenue excludes KJCC discontinued operations of $31.6 million, $135.8 million and $147.5 million for the years ended December 31, 2020, 2019 and 2018, respectively. |
|
(b) |
Depreciation and amortization expense excludes KJCC discontinued operations of $0.6 million, $3.7 million and $3.9 million for the years ended December 31, 2020, 2019 and 2018, respectively. |
|
(c) |
Includes $6.0 million of inventory fair value purchase price accounting adjustments from our acquisition of UIP in 2018. |
|
(d) |
Operating profit (loss) excludes KJCC discontinued operations of $(5.0) million, $5.8 million and $26.0 million for the years ended December 31, 2020, 2019 and 2018, respectively. |
|
(e) |
Operating loss for Corporate includes costs for Koppers Holdings Inc., the parent company of Koppers Inc., and acquisition-related costs. |
|
(f) |
Capital expenditures includes KJCC discontinued operations of $0.6 million, $3.9 million and $3.4 million for the years ended December 31, 2020, 2019 and 2018, respectively. |
|
| Summary of Tangible and Intangible Assets by Segments |
The following table sets forth tangible and intangible assets allocated to each of our segments as of the dates indicated:
|
|
|
December 31, |
|
|
|
|
2020 |
|
|
2019 |
|
|
(Dollars in millions) |
|
|
|
|
|
|
|
|
|
Segment assets: |
|
|
|
|
|
|
|
|
|
Railroad and Utility Products and Services |
|
$ |
583.1 |
|
|
$ |
562.2 |
|
|
Performance Chemicals |
|
|
536.1 |
|
|
|
457.7 |
|
|
Carbon Materials and Chemicals |
|
|
424.2 |
|
|
|
502.1 |
|
|
Segment assets |
|
|
1,543.4 |
|
|
|
1,522.0 |
|
|
Cash and cash equivalents |
|
|
0.4 |
|
|
|
0.0 |
|
|
Income tax receivable |
|
|
1.2 |
|
|
|
1.9 |
|
|
Deferred taxes |
|
|
28.8 |
|
|
|
17.0 |
|
|
Property, plant and equipment, net |
|
|
5.9 |
|
|
|
5.3 |
|
|
Operating lease right-of-use assets |
|
|
11.9 |
|
|
|
13.2 |
|
|
Prepaid insurance and other assets |
|
|
7.0 |
|
|
|
5.2 |
|
|
Total(a) |
|
$ |
1,598.6 |
|
|
$ |
1,564.6 |
|
|
Goodwill: |
|
|
|
|
|
|
|
|
|
Railroad and Utility Products and Services |
|
$ |
121.1 |
|
|
$ |
120.7 |
|
|
Performance Chemicals |
|
|
176.7 |
|
|
|
175.4 |
|
|
Total |
|
$ |
297.8 |
|
|
$ |
296.1 |
|
|
(a) |
The Carbon Materials and Chemicals segment includes $76.4 million of assets of discontinued operations held for sale related to our KJCC business at December 31, 2019. |
|
| Schedule of Revenues and Long-Lived Assets by Geographic Area |
Revenues and Long-lived Assets by Geographic Area
|
|
|
Year |
|
|
Revenue |
|
|
Long-lived
assets |
|
|
(Dollars in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
United States |
|
|
2020 |
|
|
$ |
1,170.1 |
|
|
$ |
832.0 |
|
|
|
|
|
2019 |
|
|
|
1,141.2 |
|
|
|
796.0 |
|
|
|
|
|
2018 |
|
|
|
993.5 |
|
|
|
732.1 |
|
|
Australasia |
|
|
2020 |
|
|
|
194.3 |
|
|
|
82.0 |
|
|
|
|
|
2019 |
|
|
|
199.6 |
|
|
|
76.6 |
|
|
|
|
|
2018 |
|
|
|
218.8 |
|
|
|
69.8 |
|
|
Europe |
|
|
2020 |
|
|
|
162.3 |
|
|
|
83.2 |
|
|
|
|
|
2019 |
|
|
|
177.5 |
|
|
|
70.2 |
|
|
|
|
|
2018 |
|
|
|
214.6 |
|
|
|
44.8 |
|
|
Other countries |
|
|
2020 |
|
|
|
142.4 |
|
|
|
18.5 |
|
|
|
|
|
2019 |
|
|
|
118.7 |
|
|
|
19.3 |
|
|
|
|
|
2018 |
|
|
|
135.8 |
|
|
|
18.3 |
|
|
Total(a) |
|
|
2020 |
|
|
$ |
1,669.1 |
|
|
$ |
1,015.7 |
|
|
|
|
|
2019 |
|
|
$ |
1,637.0 |
|
|
$ |
962.1 |
|
|
|
|
|
2018 |
|
|
$ |
1,562.7 |
|
|
$ |
865.1 |
|
|
(a) |
Revenue excludes KJCC discontinued operations of $31.6 million, $135.8 million and $147.5 million for the years ended December 31, 2020, 2019 and 2018, respectively. Long-lived assets exclude $59.3 million and $59.0 million of assets of discontinued operations held for sale related to our KJCC business at December 31, 2019 and 2018, respectively. |
|
| Schedule of Segment Revenues for Significant Product Lines |
Segment Revenues for Significant Product Lines
|
|
|
Year Ended December 31, |
|
|
|
|
2020 |
|
|
2019 |
|
|
2018 |
|
|
(Dollars in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Railroad and Utility Products and Services: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Railroad treated products |
|
$ |
405.1 |
|
|
$ |
419.6 |
|
|
$ |
341.7 |
|
|
Utility poles |
|
|
241.7 |
|
|
|
222.0 |
|
|
|
184.7 |
|
|
Railroad infrastructure services |
|
|
63.5 |
|
|
|
36.5 |
|
|
|
36.9 |
|
|
Rail joints |
|
|
20.3 |
|
|
|
26.8 |
|
|
|
33.5 |
|
|
Other products |
|
|
28.6 |
|
|
|
28.6 |
|
|
|
38.0 |
|
|
|
|
|
759.1 |
|
|
|
733.5 |
|
|
|
634.8 |
|
|
Performance Chemicals: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Wood preservative products |
|
|
510.7 |
|
|
|
418.8 |
|
|
|
389.1 |
|
|
Other products |
|
|
15.6 |
|
|
|
29.5 |
|
|
|
30.9 |
|
|
|
|
|
526.3 |
|
|
|
448.3 |
|
|
|
420.0 |
|
|
Carbon Materials and Chemicals: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Pitch and related products |
|
|
230.9 |
|
|
|
272.4 |
|
|
|
280.9 |
|
|
Phthalic anhydride and other chemicals |
|
|
66.4 |
|
|
|
77.9 |
|
|
|
84.6 |
|
|
Creosote and distillates |
|
|
40.0 |
|
|
|
46.3 |
|
|
|
84.1 |
|
|
Naphthalene |
|
|
19.7 |
|
|
|
24.9 |
|
|
|
26.2 |
|
|
Other products |
|
|
26.7 |
|
|
|
33.7 |
|
|
|
32.1 |
|
|
|
|
|
383.7 |
|
|
|
455.2 |
|
|
|
507.9 |
|
|
Total(a) |
|
$ |
1,669.1 |
|
|
$ |
1,637.0 |
|
|
$ |
1,562.7 |
|
|
(a) |
Revenue excludes KJCC discontinued operations of $31.6 million, $135.8 million and $147.5 million for the years ended December 31, 2020, 2019 and 2018, respectively. |
|