10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 _______________________________________

FORM 10-Q

 ___________________________________________

(Mark One)

x	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the quarterly period ended September 30, 2016

OR

o	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the transition period from              to               .

Commission File Number 001-33124

 ___________________________________________

INNOPHOS HOLDINGS, INC.

(Exact Name of Registrant as Specified in its Charter)

 ___________________________________________

Delaware	20-1380758
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification No.)
259 Prospect Plains Road Cranbury, New Jersey	08512
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s Telephone Number, Including Area Code: (609) 495-2495

 ____________________________________________

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definition of “accelerated filer,” “large accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer	x	Accelerated Filer	o
Non-accelerated filer	o	Smaller reporting company	o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  o    No  x

As of October 27, 2016, the registrant had 19,428,958 shares of common stock outstanding.

Page 1 of 39

TABLE OF CONTENTS

		Page
PART I
Item 1.	Financial Statements	4
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	24
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	35
Item 4.	Controls and Procedures	36
PART II
Item 1.	Legal Proceedings	37
Item 1A.	Risk Factors	37
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	37
Item 3.	Defaults Upon Senior Securities	37
Item 4.	Mine Safety Disclosures	37
Item 5.	Other Information	37
Item 6.	Exhibits	37
Signatures		38

Page 2 of 39

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

Unless the context requires otherwise, references to “Innophos,” “the Company,” “we,” “us” or “our” in this Quarterly Report on Form 10-Q refer to Innophos Holdings, Inc. and its consolidated subsidiaries.

This Quarterly Report on Form 10-Q contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements by the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “objective,” “ongoing,” “plan,” “predict,” “project,” “potential,” “should,” “will,” or “would,” and/or the negative of these terms, or other comparable terminology intended to identify statements about the future. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements.

Although we believe that we have a reasonable basis for each forward-looking statement contained in this Quarterly Report on Form 10-Q, we caution you that these statements are based on a combination of facts and factors currently known by us and our expectations of the future, about which we cannot be certain.

The forward-looking statements in this Quarterly Report on Form 10-Q may include, among other things, statements about our plans, objectives, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, the demand for our products and services, the markets in which we compete and other information that is not historical information

You should refer to “Part I, Item 1A. Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2015, filed with the Securities and Exchange Commission on February 26, 2016, for a discussion of important factors that may cause our actual results to differ materially from those expressed or implied by our forward-looking statements.  As a result of these factors, we cannot assure you that the forward-looking statements in this Quarterly Report on Form 10-Q will prove to be accurate. You should understand that it is not possible to predict or identify all such factors. Consequently, you should not consider any such list to be a complete discussion of all potential risks or uncertainties that may substantially impact our business. Moreover, we operate in a competitive and rapidly changing environment. New factors emerge from time to time and it is not possible to predict the impact of all of these factors on our business, financial condition or results of operations.

Furthermore, if our forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame or at all. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

You should read this Quarterly Report on Form 10-Q and any documents that we reference in this report completely and with the understanding that our actual future results may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary statements.

Page 3 of 39

PART I

ITEM 1. FINANCIAL STATEMENTS

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets (Unaudited)

(Dollars in thousands, except per share amounts, the number of shares or where otherwise noted)

	September 30, 2016			December 31, 2015
ASSETS
Current assets:
Cash and cash equivalents	$	32,796		$	17,905
Accounts receivable, net	79,845			79,743
Inventories	139,481			172,667
Other current assets	21,248			23,514
Total current assets	273,370			293,829
Property, plant and equipment, net	202,861			199,494
Goodwill	84,373			84,373
Intangibles and other assets, net	84,209			90,522
Total assets	$	644,813		$	668,218
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt	$	4,000		$	4,002
Accounts payable, trade and other	34,524			36,898
Other current liabilities	46,339			63,204
Total current liabilities	84,863			104,104
Long-term debt	195,170			207,665
Other long-term liabilities	19,411			23,189
Total liabilities	$	299,444		$	334,958
Commitments and contingencies (note 12)
Common stock, par value $.001 per share; authorized 100,000,000; issued 22,741,645 and 22,586,016; outstanding 19,429,164 and 19,290,025 shares	19			19
Paid-in capital	134,462			132,399
Common stock held in treasury, at cost (3,312,481 and 3,295,991 shares)	(175,016		)	(174,685		)
Retained earnings	388,944			378,321
Accumulated other comprehensive loss	(3,040		)	(2,794		)
Total stockholders' equity	345,369			333,260
Total liabilities and stockholders' equity	$	644,813		$	668,218

See notes to condensed consolidated financial statements

Page 4 of 39

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Comprehensive Income (Unaudited)

(Dollars in thousands, except per share amounts, the number of shares or where otherwise noted)

	Three months ended					Nine months ended
	September 30, 2016		September 30, 2015			September 30, 2016			September 30, 2015
Net sales	$	186,037	$	199,612		$	557,555		$	618,515
Cost of goods sold	145,497		162,491			440,149			499,873
Gross profit	40,540		37,121			117,406			118,642
Operating expenses:
Selling, general and administrative	17,749		23,368			51,716			60,026
Research & development expenses	896		1,193			2,913			3,430
Total operating expenses	18,645		24,561			54,629			63,456
Operating income	21,895		12,560			62,777			55,186
Interest expense, net	1,915		1,869			5,627			4,423
Foreign exchange loss	110		2,629			426			5,061
Income before income taxes	19,870		8,062			56,724			45,702
Provision for income taxes	6,227		2,629			18,135			14,723
Net income	$	13,643	$	5,433		$	38,589		$	30,979
Net income attributable to participating common shareholders	$	13,548	$	5,416		$	38,356		$	30,916
Per share data (note 2):
Income per participating share:
Basic	$	0.70	$	0.28		$	1.99		$	1.52
Diluted	$	0.69	$	0.28		$	1.96		$	1.50
Weighted average participating shares outstanding:
Basic	19,294,070		19,390,246			19,255,143			20,330,118
Diluted	19,670,159		19,662,591			19,572,003			20,633,609
Other comprehensive income (loss), net of tax:
Change in interest rate swaps, (net of tax of $(126), $189, $143 and $434)	$	204	$	(308	)	$	(234	)	$	(709	)
Change in pension and post-retirement plans, (net of tax of ($24),($96), $10 and ($204))	78		283			(12		)	595
Other comprehensive income (loss), net of tax	$	282	$	(25	)	$	(246	)	$	(114	)
Comprehensive income	$	13,925	$	5,408		$	38,343		$	30,865

See notes to condensed consolidated financial statements

Page 5 of 39

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Cash Flows (Unaudited)

(Dollars in thousands)

	Nine months ended
	September 30, 2016			September 30, 2015
Cash flows provided from operating activities
Net income	$	38,589		$	30,979
Adjustments to reconcile net income to net cash provided from operating activities:
Depreciation and amortization	28,607			29,681
Amortization of deferred financing charges	505			445
Deferred income tax provision	363			169
Share-based compensation	2,329			2,243
Changes in assets and liabilities:
Increase in accounts receivable	(107		)	(10,091		)
Decrease in inventories	33,092			15,057
Decrease in other current assets	2,102			11,241
Decrease in accounts payable	(2,545		)	(10,609		)
(Decrease) increase in other current liabilities	(16,145		)	5,342
Changes in other long-term assets and liabilities	(4,986		)	1,480
Net cash provided from operating activities	81,804			75,937
Cash flows used for investing activities:
Capital expenditures	(25,675		)	(21,770		)
Net cash used for investing activities	(25,675		)	(21,770		)
Cash flows used for financing activities:
Proceeds from exercise of stock options	9			190
Long-term debt borrowings	36,000			156,000
Long-term debt repayments	(49,002		)	(6,002		)
Deferred financing costs	—			(277		)
Excess tax (deficiency) benefit from exercise of stock options	(346		)	771
Common stock repurchases and restricted stock forfeitures	(331		)	(125,402		)
Dividends paid	(27,891		)	(29,322		)
Net cash used for financing activities	(41,561		)	(4,042		)
Effect of foreign exchange rate changes on cash and cash equivalents	323			(285		)
Net change in cash	14,891			49,840
Cash and cash equivalents at beginning of period	17,905			36,207
Cash and cash equivalents at end of period	$	32,796		$	86,047

See notes to condensed consolidated financial statements

Page 6 of 39

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Statement of Stockholders’ Equity (Unaudited)

(Dollars and shares in thousands)

	Number of Common Shares		Common Stock			Retained Earnings (Deficit)			Paid-in Capital / Treasury Stock			Accumulated Other Comprehensive Income/(Loss)			Total Shareholders' Equity
Balance, December 31, 2014	21,480		$	21		$	390,525		$	75,274		$	(2,813	)	$	463,007
Net income						26,346									26,346
Other comprehensive income, (net of tax $(2))												19			19
Proceeds from stock award exercises and issuances	139								246						246
Share-based compensation									6,618						6,618
Excess tax benefits from exercise of stock options									975						975
Common stock repurchases	(2,319	)	(2		)				(124,998		)				(125,000		)
Restricted stock forfeitures	(10	)							(401		)				(401		)
Dividends declared						(38,550		)							(38,550		)
Balance, December 31, 2015	19,290		$	19		$	378,321		$	(42,286	)	$	(2,794	)	$	333,260
Net income						38,589									38,589
Other comprehensive loss, (net of tax $153)												(246		)	(246		)
Proceeds from stock award exercises and issuances	156								(831		)				(831		)
Share-based compensation									3,240						3,240
Excess tax deficiency from exercise of stock options									(346		)				(346		)
Restricted stock forfeitures	(17	)							(331		)				(331		)
Dividends declared						(27,966		)							(27,966		)
Balance, September 30, 2016	19,429		$	19		$	388,944		$	(40,554	)	$	(3,040	)	$	345,369

See notes to condensed consolidated financial statements

Page 7 of 39

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, the number of shares or where otherwise noted)

1. Basis of Statement Presentation

Summary of Significant Accounting Policies

The accompanying unaudited condensed consolidated financial statements of Innophos have been prepared in accordance with generally accepted accounting principles in the United States of America (US GAAP) for interim financial reporting and do not include all disclosures required by US GAAP for annual financial reporting, and should be read in conjunction with the audited consolidated and combined financial statements of the Company at December 31, 2015 and for the three years then ended.

The accompanying unaudited condensed consolidated financial statements of the Company reflect all adjustments which management considers necessary for a fair statement of the results of operations for the interim periods and is subject to year-end adjustments. The results of operations for the interim periods are not necessarily indicative of the results for the full year. The December 31, 2015 condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by US GAAP.

Recently Issued Accounting Standards

Adopted

In June 2014, the Financial Accounting Standard Board (FASB) issued guidance which requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. The guidance is effective for the interim and annual periods beginning on or after December 15, 2015. The adoption of this standard did not have a material impact on our financial position, results of operations and related disclosures.

In January 2015, the FASB issued new accounting rules which remove the concept of extraordinary items from US GAAP. Under the existing guidance, an entity is required to separately disclose extraordinary items, net of tax, in the income statement after income from continuing operations if an event or transaction is of an unusual nature and occurs infrequently. This separate, net-of-tax presentation (and corresponding earnings per share impact) will no longer be allowed. The new rules will be effective for us in the first quarter of 2016. The adoption of the new accounting rules did not have a material impact on our financial position, results of operations and related disclosures.

In February 2015, the FASB issued amendments to the criteria for determining which entities are considered variable interest entities (VIEs) and to the criteria for determining if a service provider possesses a variable interest in a VIE and ends the deferral granted to investment companies for application of the VIE consolidation model. This guidance is effective for annual and interim reporting periods of public entities beginning after December 15, 2015. The adoption of this standard did not have a material impact on our financial position, results of operations and related disclosures.

In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This guidance is effective for annual and interim reporting periods of public entities beginning after December 15, 2015, and early adoption is permitted. The adoption of the new accounting rules did not have a material impact on our financial position, results of operations and related disclosures, although it did change the financial statement classification of our debt issuance costs.

Issued but not yet adopted

In May 2014, the FASB issued guidance on revenue from contracts with customers that will supersede most current revenue recognition guidance, including industry-specific guidance. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The guidance provides a five-step analysis of transactions to determine when and how revenue is recognized. Other major provisions include capitalization of certain contract costs, consideration of time value of money in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. The guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. The guidance is effective for the interim and annual

Page 8 of 39

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

periods beginning on or after December 15, 2017 (early adoption is permitted to the interim periods within the year of adoption). In July 2015 the FASB deferred the effective date by one year. The guidance permits the use of either a retrospective or cumulative effect transition method. We have not yet selected a transition method and are currently evaluating the impact of the amended guidance on our consolidated financial position, results of operations and related disclosures.

In August 2014, the FASB issued guidance which establishes management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. The amendments require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles in US auditing standards. Specifically, ASU 2014-15 provides a definition of the term substantial doubt and requires an assessment for a period of one year after the date that the financial statements are issued or available to be issued. It also requires certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans and requires an express statement and other disclosures when substantial doubt is not alleviated. The guidance is effective for the interim and annual periods beginning on or after December 15, 2016; early adoption is permitted. We do not anticipate that the adoption of this standard will have a material impact on our financial position, results of operations and related disclosures.

In July 2015, the FASB issued guidance which requires entities to measure most inventory “at the lower of cost and net realizable value (“NRV”),” thereby simplifying the current guidance under which an entity must measure inventory at the lower of cost or market. Under the new guidance, inventory is “measured at the lower of cost and net realizable value,” which eliminates the need to determine replacement cost and evaluate whether it is above the ceiling (NRV) or below the floor (NRV less a normal profit margin). The guidance defines NRV as the “estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation.” The guidance is effective for annual periods beginning after December 15, 2016, and interim periods therein. Early application is permitted. We do not anticipate the adoption of the new accounting rules will have a material impact on our financial position, results of operations and related disclosures.

In September 2015, the FASB issued guidance which eliminates the requirement to retrospectively adjust the financial statements for measurement-period adjustments that occur in periods after a business combination is consummated.  Measurement period adjustments are calculated as if they were known at the acquisition date, but are recognized in the reporting period in which they are determined.  Additional disclosures are required about the impact on current-period income statement line items of adjustments that would have been recognized in prior periods if prior-period information had been revised. The guidance is effective for annual periods beginning after December 15, 2015 and is to be applied prospectively to adjustments of provisional amounts that occur after the effective date.  Early application is permitted. We do not anticipate the new accounting rules will have a material impact on our financial position, results of operations and related disclosures.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) in order to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet for those leases classified as operating leases under previous GAAP. ASU 2016-02 requires that a lessee should recognize a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term on the balance sheet. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018 (including interim periods within those periods) using a modified retrospective approach and early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption of the ASU on its consolidated financial statements.

In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, which amends Accounting Standards Codification ("ASC") Topic 718, Compensation - Stock Compensation.  ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years and early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption of the ASU on its consolidated financial statements.

In March 2016, the FASB issued ASU 2016-15, Clarification on Classification of Certain Cash Receipts and Cash Payments on the Statement of Cash Flows. ASU 2016-15 clarifies the classification of certain cash receipts and cash payments in the statement of cash flows, including debt prepayment or extinguishment costs, settlement of contingent consideration arising from a business combination, insurance settlement proceeds, and distributions from certain equity method investees. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. Early adoption is permitted. The Company is evaluating the impact of adopting this new accounting guidance on our consolidated financial statements.

Page 9 of 39

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

2. Earnings per Share (EPS)

The Company accounts for earnings per share in accordance with ASC 260, which requires two calculations of earnings per share (EPS) to be disclosed: basic EPS and diluted EPS. Under ASC Subtopic 260-10-45, as of January 1, 2009 unvested awards of share-based payments with rights to receive dividends or dividend equivalents, such as our restricted stock, are considered participating securities for purposes of calculating EPS. Under the two-class method, a portion of net income is allocated to these participating securities and therefore is excluded from the calculation of EPS allocated to common stock, as shown in the table below.

The numerator for basic and diluted earnings per share is net earnings attributable to shareholders reduced by dividends attributable to unvested shares. The denominator for basic earnings per share is the weighted average number of common stock outstanding during the period. The denominator for diluted earnings per share is weighted average shares outstanding adjusted for the effect of dilutive outstanding stock options, performance share awards and restricted stock awards.

The following is a reconciliation of the weighted average basic number of common shares outstanding to the diluted number of common and common stock equivalent shares outstanding and the calculation of earnings per share using the two-class method:

	Three Months Ended						Nine Months Ended
	September 30, 2016			September 30, 2015			September 30, 2016			September 30, 2015
Net income	$	13,643		$	5,433		$	38,589		$	30,979
Less: earnings attributable to unvested shares	(95		)	(17		)	(233		)	(63		)
Net income available to participating common shareholders	$	13,548		$	5,416		$	38,356		$	30,916
Weighted average number of participating common and potential common shares outstanding:
Basic number of participating common shares outstanding	19,294,070			19,390,246			19,255,143			20,330,118
Dilutive effect of stock equivalents	376,089			272,345			316,860			303,491
Diluted number of weighted average participating common shares outstanding	19,670,159			19,662,591			19,572,003			20,633,609
Earnings per participating common share:
Earnings per participating common share—Basic	$	0.70		$	0.28		$	1.99		$	1.52
Earnings per participating common share—Diluted	$	0.69		$	0.28		$	1.96		$	1.50
Total outstanding options, performance share awards and unvested restricted stock not included in the calculation of diluted earnings per share as the effect would be anti-dilutive	461,193			404,602			520,422			373,456

Page 10 of 39

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

3. Dividends

The following is the dividend activity for the three and nine months ended September 30, 2016 and September 30, 2015:

	Three Months Ended				Nine Months Ended
	September 30				September 30
	2016		2015		2016		2015
Dividends declared – per share	$	0.48	$	0.48	$	1.44	$	1.44
Dividends declared – aggregate	9,327		9,261		27,891		29,322
Dividends paid – per share	0.48		0.48		1.44		1.44
Dividends paid – aggregate	9,327		9,261		27,891		29,322

Innophos Holdings, Inc. is a holding company that does not conduct any business operations of its own. As a result, it is dependent upon cash dividends, distributions and other transfers from its subsidiaries, most directly Innophos, Inc., its primary operating subsidiary, and Innophos Investments Holdings, Inc., a direct, wholly-owned subsidiary of Innophos Holdings, Inc. and the parent of Innophos, Inc., to make dividend payments on its common stock.

4. Stockholders’ Equity / Stock-Based Compensation

Restricted Stock

In April 2016 there were a total of 88,590 restricted shares granted to certain employees with a fair value of $2.8 million. These awards are classified as equity awards and vest annually over a weighted average of 2.9 years. The related compensation expense is based on the date of grant share price of $31.44. The compensation expense is amortized on a straight-line basis over the requisite vesting period and accelerated for those employees that are retirement eligible during the vesting period.

Stock Options

In April 2016 the Company made grants of 400,216 non-qualified stock options at a weighted average exercise price of $31.18 per share to certain employees with a fair value of $1.8 million. The non-qualified stock options vest annually over three years and expire in ten years.

The fair value of the options granted in 2016 were determined using the Black-Scholes option-pricing model. The assumptions used in the Black-Scholes option-pricing model were as follows for the April 1, 2016 and April 13, 2016 grants, respectively:

Non-qualified stock options
Expected volatility	33.8	%
Dividend yield	6.6	%
Risk-free interest rate	1.42	%
Expected term (years)	6.6
Weighted average grant date fair value of stock options	4.62

For the 2016 grants the expected volatility and the expected term are based on the Company's historical data. The dividend yield is the expected annual dividend payments divided by the average stock price since announcement of the latest dividend change up to the date of grant. The risk-free interest rates are derived from the U.S. Treasury securities in effect on the date of grant whose maturity period equals the options expected term. The Company applies an expected forfeiture rate to stock-based compensation expense. The estimate of the forfeiture rate is based primarily upon historical experience of employee turnover. As actual forfeitures become known, stock-based compensation expense is adjusted accordingly.

Page 11 of 39

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

Stock Grants

In May 2016 the seven non-employee members of the Board of Directors were granted a combined total of 16,457 shares of the Company's common stock with an aggregated fair value of approximately $0.6 million which immediately vested as part of their director fees.

The following table summarizes the components of stock-based compensation expense, all of which has been classified as selling, general and administrative expense:

	Three Months Ended				Nine Months Ended
	September 30, 2016		September 30, 2015		September 30, 2016		September 30, 2015
Stock options	$	354	$	327	$	439	$	1,029
Restricted stock	497		300		837		938
Performance shares	177		31		458		(234		)
Stock grants	—		—		595		510
Total share-based compensation expense (a)	$	1,028	$	658	$	2,329	$	2,243

(a) The three and nine months ended September 30, 2016 include a charge of $269 and a net benefit of $255 due to restructuring activities.

5. Inventories

Inventories consist of the following:

	September 30, 2016		December 31, 2015
Raw materials	$	41,049	$	44,391
Finished products	85,013		115,305
Spare parts	13,419		12,971
	$	139,481	$	172,667

Inventory reserves for excess quantities, obsolescence or shelf-life expiration as of September 30, 2016 and December 31, 2015 were $13,571 and $16,946, respectively. The Company decreased its net realizable value reserve for GTSP by $536 in the nine months ended September 30, 2016.

6. Other Current Assets

Other current assets consist of the following:

	September 30, 2016		December 31, 2015
Creditable taxes (value added taxes)	$	5,270	$	8,235
Vendor inventory deposits (prepaid)	4,450		7,977
Prepaid income taxes	6,862		2,668
Prepaid insurance	1,557		2,070
Other	3,109		2,564
	$	21,248	$	23,514

Page 12 of 39

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

7. Intangibles and Other Assets, net

Intangibles and other assets consist of the following:

	Useful life (years)	September 30, 2016		December 31, 2015
Developed technology and application patents, net of accumulated amortization of $27,044 for 2016 and $24,840 for 2015	7-20	$	19,231	$	21,435
Customer relationships, net of accumulated amortization of $17,880 for 2016 and $15,812 for 2015	5-15	20,932		23,000
Trade names and license agreements, net of accumulated amortization of $9,972 for 2016 and $8,944 for 2015	5-20	7,689		8,717
Non-compete agreements, net of accumulated amortization of $1,230 for 2016 and $1,112 for 2015	3-10	103		221
Total intangibles		$	47,955	$	53,373
Deferred income taxes		$	28,998	$	28,842
Other tax assets		5,377		6,014
Other assets		1,879		2,293
Total other assets		$	36,254	$	37,149
		$	84,209	$	90,522

8. Other Current Liabilities

Other current liabilities consist of the following:

	September 30, 2016		December 31, 2015
Payroll related	$	11,352	$	9,513
Taxes other than income taxes	2,707		5,779
Benefits and pensions	4,905		5,764
Freight and rebates	3,827		4,606
Income taxes	11,851		23,609
Restructuring and management transition reserve	5,861		9,335
Other	5,836		4,598
	$	46,339	$	63,204

Page 13 of 39

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

9. Short-Term Borrowings, Long-Term Debt, and Interest Expense

Short-term borrowings and long-term debt consist of the following:

	September 30, 2016			December 31, 2015
Term loan due 2017	$	85,000		$	88,000
Revolver borrowings under the credit facility due 2017	115,000			125,000
Deferred financing costs, net of accumulated amortization of $3,297 for 2016 and $2,793 for 2015	(830		)	(1,335		)
Capital leases	—			2
Total borrowings	$	199,170		$	211,667
Less current portion	4,000			4,002
Long-term debt	$	195,170		$	207,665

The Company's credit facility includes a term loan of $100.0 million and a revolving line of credit from the lenders of up to $225.0 million, including a $20.0 million letter of credit sub-facility, all maturing on December 21, 2017. Repayments of the term loan are required at the rate of 1% of original principal amount per quarter beginning on March 31, 2013.

As of September 30, 2016, $85.0 million was outstanding under the term loan and $115.0 million was outstanding under the revolving line of credit, both of which approximate fair value because they have a floating interest rate (determined using level 2 inputs within the fair value hierarchy) with total availability at $109.0 million, taking into account $1.0 million in face amount of letters of credit issued under the sub-facility. The current weighted average interest rate for all debt is 2.8%.

Among its affirmative covenants, the credit agreement governing this credit facility requires the Company to maintain the following consolidated ratios (as defined and calculated according to the credit agreement) as of the end of each fiscal quarter:

(a) “Total Leverage Ratio” less than or equal to 3.00 to 1.00.

(b) “Fixed Charge Coverage Ratio” greater than or equal to 1.25 to 1.00.

As of September 30, 2016, the Company was in full compliance with all debt covenant requirements.

Simultaneous with the term of the credit facility, Innophos entered into an interest rate swap, swapping the LIBOR exposure on $100.0 million adjusting monthly, with a fixed rate of 0.9475% plus the applicable margin on the debt expiring in December 2017. This interest rate swap has been designated as a cashflow hedge (Level 2) with the changes in value recorded through other comprehensive income. The fair value of this interest rate swap of approximately $0.3 million is recorded in other long-term liabilities as of September 30, 2016. Based on $100.0 million outstanding borrowings as floating rate debt (amount not covered by the swap), an immediate increase of one percentage point would cause an increase to interest expense of approximately $1.0 million per year.

We manage our interest rate risk by balancing the amount of fixed-rate and floating-rate debt to the extent practicable consistent with our credit status.

Total interest paid by the Company for all indebtedness for the nine months ended September 30, 2016 and September 30, 2015 was $5,298 and $4,089, respectively.

Page 14 of 39

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

Interest expense, net consists of the following:

	Three months ended						Nine months ended
	September 30, 2016			September 30, 2015			September 30, 2016			September 30, 2015
Interest expense	$	1,796		$	1,767		$	5,297		4,099
Deferred financing cost	168			160			505			445
Interest income	(14		)	(21		)	(38		)	(58		)
Less: amount capitalized for capital projects	(35		)	(37		)	(137		)	(63		)
Total interest expense, net	$	1,915		$	1,869		$	5,627		$	4,423

10. Other Long-Term Liabilities

Other long-term liabilities consist of the following:

	September 30, 2016		December 31, 2015
Deferred income taxes	$	1,408	$	2,135
Pension and post retirement liabilities	9,509		9,612
Restructuring and management transition reserve	2,184		4,054
Uncertain tax positions	1,654		2,416
Environmental liabilities	1,100		1,100
Other liabilities	3,556		3,872
	$	19,411	$	23,189

11. Income Taxes

The effective income tax rate on income before taxes was approximately 32% for the nine months ended September 30, 2016 compared to approximately 32% for the comparable period in 2015. The change in the components of the effective tax rate are primarily due to a permanent adjustment attributable to an inventory obsolescence reserve in Mexico which increased the effective tax rate by 1% in the current year, which was offset by foreign tax benefits, mainly in Mexico related to de-consolidation of our Mexican subsidiaries for income tax reporting purposes, which decreased the effective tax rate by 1%.

Business is conducted in various countries throughout the world and is subject to tax in numerous jurisdictions. A significant number of tax returns are filed and subject to examination by various federal, state and local tax authorities. Tax examinations are often complex, as tax authorities may disagree with the treatment of items reported requiring several years to resolve. As such, the Company maintains liabilities for possible assessments by tax authorities resulting from known tax exposures for uncertain income tax positions. The Company’s policy is to accrue associated penalties in selling, general and administrative expenses and to accrue interest in net interest expense. Currently, the Company is under examination, or has been contacted for examination on income tax returns, for the years 2007 through 2013. In addition, Innophos Canada, Inc. was assessed approximately $4.0 million for the tax years 2007 and 2008 by the Canadian tax authorities. The Company is contesting the full assessment. After lengthy discussions, the Canadian tax authorities have reassessed these amounts in August 2014 and the Company filed a Notice of Objection with the Canada Revenue Agency Appeals Board in November 2014. The Company filed a petition to Competent Authority who has agreed to accept our matter. The Company believes that its tax position is more likely than not to be sustained. Also, certain state income tax assessments are under protest and the Company believes its financial position is sustainable. The Company estimates the liability for unrecognized tax benefits may decrease by approximately $1.2 million during the next twelve months as a result of possible settlements of income tax authority examinations. Other than the items mentioned above, as of September 30, 2016, no material adjustments have been proposed to the Company's tax positions and the Company currently does not anticipate any adjustments that would result in a material change to its financial position during the next twelve months.

Page 15 of 39

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

Income taxes paid were $34.8 million and $10.1 million for the nine months ended September 30, 2016 and September 30, 2015, respectively.

12. Commitments and Contingencies

Environmental

The Company's operations are subject to extensive and changing federal, state, local and international environmental laws, rules and regulations. The Company's manufacturing sites have an extended history of industrial use, and soil and groundwater contamination have or may have occurred in the past and might occur or be discovered in the future.

Environmental efforts are difficult to assess for numerous reasons, including the discovery of new remedial sites, discovery of new information and scarcity of reliable information pertaining to certain sites, improvements in technology, changes in environmental laws, rules and regulations, numerous possible remedial techniques and solutions, difficulty in assessing the involvement of and the financial capability of other potentially responsible parties and the extended time periods over which remediation occurs. Other than the items listed below, the Company is not aware of material environmental liabilities which are probable and estimable. As the Company's environmental contingencies are more clearly determined, it is reasonably possible that amounts may need to be accrued. However, management does not believe, based on current information, that environmental remediation requirements will have a material impact on the Company's results of operations, financial position or cash flows.

Future environmental spending is probable at our site in Nashville, TN, the eastern portion of which had been used historically as a landfill, and a western parcel therein, previously acquired from a third party, which reportedly had housed, but no longer does, a fertilizer and pesticide manufacturing facility. We have an estimated liability with a range of $0.9 million-$1.3 million. The remedial action plan for that site has yet to be finalized, and as such, the Company has recorded a liability, which represents the Company's best estimate, of $1.1 million as of September 30, 2016.

Purchase Commitments and Supplier Concentration

The Company’s business depends on its ability to source raw materials used in its products. Most of the Company’s raw materials are supplied to it by either one or a small number of suppliers. Some of those suppliers rely, in turn, on sole or limited sources of supply for raw materials included in their products. The Company’s raw materials are purchased under supply contracts that vary from long term multi-year supply arrangements to annual agreements. The Company also relies on spot suppliers. In any given year, one or more of these contracts may come up for renewal. As such, on June 23, 2016, the Company received written notice from PCS Purified Phosphates, or PCSPP, an affiliate of Potash Corporation of Saskatchewan, or PCS, that PCSPP does not wish to extend the term of the Amended and Restated Purified Wet Phosphoric Acid Supply Agreement, dated March 23, 2000, beyond July 29, 2018, the end of the current renewal term. The Company currently purchases purified phosphoric acid supply from PCSPP under the agreement and it will continue to qualify and develop additional sources for future supply needs after July 29, 2018.

Litigation

2008 RCRA Civil Enforcement - Geismar, Louisiana plant

Following several inspections by the Environmental Protection Agency, or EPA, at our Geismar, Louisiana purified phosphoric acid, or PPA, plant and related submissions we made to support claimed exemptions from the federal Resource, Conservation and Recovery Act, or RCRA, in March 2008, EPA referred our case to the Department of Justice, or DOJ, for civil enforcement. Although no citations were ever issued or formal proceedings instituted, the agencies claim we violate RCRA by failing to manage appropriately two materials that DOJ/EPA alleges are hazardous wastes. Those materials are: (i) Filter Material from an enclosed intermediate filtration step to further process green phosphoric acid we receive as raw material via pipeline from the adjacent site operated by an affiliate of PCS; and (ii) Raffinate, a co-product we return to PCS under a long-term contract we have with PCS.

Since referral of the case to DOJ, we and PCS have engaged in periodic discussions with DOJ/EPA and the Louisiana Department of Environmental Quality, or LDEQ, or collectively the Government Parties, in order to resolve the matter. In addition to asserting that the two materials in question are not hazardous wastes, we have also sought to demonstrate that both the nature and character of the materials as well as their use, handling and disposition were detailed in a solid waste permit amendment application filed in 1989 by PCS's predecessor, when our plant was first constructed, and approved by the LDEQ under the state RCRA program.

Page 16 of 39

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

In the course of discussions with the Government Parties, the DOJ/EPA has required that we undertake, as an interim measure, the construction of a new filter unit to replace the enclosed system and allow the removal and separate handling of the Filter Material. We built that unit, which has been operating since 2012.

In an attempt to address the remaining concerns of the Government Parties, we and PCS undertook joint efforts to explore possible technical solutions to the issue of Raffinate treatment. Based upon work so far, there appears to be at least one technically viable approach, namely that of “deep well injection,” which we believe is acceptable to regulators as part of a negotiated solution among the parties.

Although we cannot give assurances as to the future course or ultimate outcome of ongoing negotiations, including whether litigation may ultimately ensue, we believe, based on our appreciation of the current state of the proceedings, that deep well injection is likely to be employed as the technologically acceptable approach for Raffinate. PCS has applied to the relevant government agencies for a deep well permit. We have also applied for our own deep well permit for future business reasons. In negotiated settlements leading to consent decrees with the Governmental Parties, it is also common for penalties relating to previous “non-compliance” to be assessed and, in that connection, we have been advised by the Governmental Parties that they expect to seek penalties against both PCS and us in this case. Although we have argued and made submissions to the effect that for purposes of settlement penalties there is no basis for any substantial penalty to be levied against us, nevertheless, we can give no assurance as to that outcome, or if a penalty is initially assessed as to its amount, or whether it will be necessary for us to oppose or seek indemnity for the assessment by further litigation. Based upon our receipt of a draft consent decree from the Government Parties in June 2014 and subsequent discussions with them, the Company now confirms an assessment of and has increased its estimated liability to $1.4 million for this penalty from its original assessment of $0.9 million. However, further discussions among all parties will be necessary to determine the civil penalties liability and if the matter can be resolved by settlement.

Other Legal Matters

In July 2013, Innophos, Inc. was assessed approximately $1.2 million of sales/use taxes by the State of Louisiana and Ascension Parish. This tax assessment covers certain raw materials used in the production of Phosphoric Acid. The Company is contesting both tax assessments. This assessment covers periods 2004 to 2010 for the Parish and 2007 to 2010 for the State. We have concluded that the contingent liability arising from this matter is neither remote nor probable, but reasonably possible.

In addition, we are party to legal proceedings and contractual disputes that arise in the ordinary course of our business. Except as to the matters specifically discussed, management believes that these matters represent remote liabilities. However, these matters cannot be predicted with certainty and an unfavorable resolution of one or more of them could have a material adverse effect on our business, results of operations, financial condition, and/or cash flows.

Page 17 of 39

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

13. Pension Plans and Postretirement Benefits

Net periodic benefit expense for the United States plans:

	For the three months ended September 30, 2016									For the three months ended September 30, 2015
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits			Total
Service cost	$	—		$	46		$	46		$	—		$	80		$	80
Interest cost	30			44			74			29			42			71
Expected return on assets	(37		)	—			(37		)	(35		)	—			(35		)
Amortization of
prior service cost	—			—			—			—			—			—
unrecognized (gain) loss	2			(13		)	(11		)	17			(6		)	11
net transition obligation	—			—			—			—			—			—
Net periodic cost	$	(5	)	$	77		$	72		$	11		$	116		$	127
	For the nine months ended September 30, 2016									For the nine months ended September 30, 2015
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits			Total
Service cost	$	—		$	138		$	138		$	—		$	239		$	239
Interest cost	89			133			222			86			126			212
Expected return on assets	(109		)	—			(109		)	(104		)	—			(104		)
Amortization of
prior service cost	—			—			—			—			—			—
unrecognized (gain) loss	6			(39		)	(33		)	49			(17		)	32
net transition obligation	—			—			—			—			—			—
Net periodic cost	$	(14	)	$	232		$	218		$	31		$	348		$	379

Innophos has no minimum contribution requirements and does not plan to make cash contributions for its US defined benefit pension plan in 2016.

Innophos made its entire cash contribution of $3.5 million for the US defined contribution plan during the first quarter of 2016 for the plan year 2015.

Page 18 of 39

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

Net periodic benefit expense for the Canadian plans:

	For the three months ended September 30, 2016									For the three months ended September 30, 2015
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits			Total
Service cost	$	92		$	12		$	104		$	84		$	12		$	96
Interest cost	125			13			138			124			13			137
Expected return on assets	(195		)	—			(195		)	(188		)	—			(188		)
Amortization of
actuarial loss (gain)	53			—			53			38			—			38
prior service cost	26			—			26			26			—			26
net transition obligation	—			6			6			—			6			6
Exchange rate changes	29			(9		)	20			429			(104		)	325
Net periodic cost	$	130		$	22		$	152		$	513		$	(73	)	$	440
	For the nine months ended September 30, 2016									For the nine months ended September 30, 2015
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits			Total
Service cost	$	272		$	36		$	308		$	262		$	36		$	298
Interest cost	368			39			407			386			41			427
Expected return on assets	(577		)	—			(577		)	(588		)	—			(588		)
Amortization of
actuarial loss (gain)	156			—			156			120			—			120
prior service cost	79			—			79			83			—			83
net transition obligation	—			17			17			—			18			18
Exchange rate changes	(271		)	68			(203		)	780			(182		)	598
Net periodic cost	$	27		$	160		$	187		$	1,043		$	(87	)	$	956

Innophos Canada, Inc. does not plan to make cash contributions to its Canadian defined benefit plan in 2016.

Page 19 of 39

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

14. Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) by Component:

For the three months ended September 30, 2016	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at June 30, 2016	$	(2,932	)	$	(390	)	$	(3,322	)
Other comprehensive income (loss) before reclassifications	78			204			282
Amounts reclassified from accumulated other comprehensive income	—			—			—
Net current period other comprehensive income (loss)	78			204			282
Balance at September 30, 2016	$	(2,854	)	$	(186	)	$	(3,040	)
For the three months ended September 30, 2015	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at June 30, 2015	$	(2,863	)	$	(39	)	$	(2,902	)
Other comprehensive income (loss) before reclassifications	283			(308		)	(25		)
Amounts reclassified from accumulated other comprehensive income	—			—			—
Net current period other comprehensive income (loss)	283			(308		)	(25		)
Balance at September 30, 2015	$	(2,580	)	$	(347	)	$	(2,927	)
For the nine months ended September 30, 2016	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at December 31, 2015	$	(2,842	)	$	48		$	(2,794	)
Other comprehensive loss before reclassifications	(12		)	(234		)	(246		)
Amounts reclassified from accumulated other comprehensive income (loss)	—			—			—
Net current period other comprehensive income (loss)	(12		)	(234		)	(246		)
Balance at September 30, 2016	$	(2,854	)	$	(186	)	$	(3,040	)
For the nine months ended September 30, 2015	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at December 31, 2014	$	(3,175	)	$	362		$	(2,813	)
Other comprehensive income (loss) before reclassifications	595			(709		)	(114		)
Amounts reclassified from accumulated other comprehensive income (loss)	—			—			—
Net current period other comprehensive income (loss)	595			(709		)	(114		)
Balance at September 30, 2015	$	(2,580	)	$	(347	)	$	(2,927	)

Page 20 of 39

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

15. Restructuring Costs

During 2015 management evaluated several initiatives to improve the overall operating efficiency of the organization. As a result of this evaluation we launched an initiative to reduce our cost structure by implementing various staff reduction actions during the third quarter of 2015.

In addition, during the fourth quarter of 2015, the Company experienced a management transition of certain high-level positions, most notably the Chief Executive Officer and the Chief Financial Officer.

During the three and nine months ended September 30, 2016, additional amounts recorded within selling, general and administrative expenses in the statements of operations in connection with continued restructuring were $1,508 and $1,844 (including accelerated stock compensation of $269 for the three and nine months ended September 30, 2016), respectively, and cost of goods sold were $0 and $145, respectively. These amounts were all included in the GTSP & Other segment.

The following table summarizes the fiscal year 2016 activities related to severance and benefits:

For the three months ended September 30, 2016	Restructuring Costs
Balance at June 30, 2016	$	8,955
Expense recorded	1,239
Accelerated share-based compensation expense (a)	—
Payments made	(2,148		)
Balance at September 30, 2016	$	8,046

For the nine months ended September 30, 2016	Restructuring Costs
Balance at December 31, 2015	$	13,389
Expense recorded	1,720
Accelerated share-based compensation expense (a)	(911		)
Payments made	(6,152		)
Balance at September 30, 2016	$	8,046

(a) Accelerated stock-based compensation expense due to management transition.

The Company closed its Paterson, NJ location as of March 31, 2016 and consolidated a majority of the Paterson operations to its Green Pond, South Carolina location. In addition, as a result of further business restructuring, the sale of the Company's Ogden, Utah administration building was completed in July 2016.

16. Segment Reporting

The company discloses certain financial and supplementary information about its reportable segments, revenue by products and revenues by geographic area. Operating segments are defined as components of an enterprise about which separate discrete financial information is evaluated regularly by the chief operating decision maker, in order to decide how to allocate resources and assess performance. The primary performance indicators for the chief operating decision maker are sales and EBITDA (defined as net income (loss) before interest, income taxes, depreciation and amortization), with sales presented on a ship-from basis. All references to sales in this Quarterly Report on Form 10-Q, either on a ship-from or ship-to basis, are on the same basis of revenue recognition and are recognized when title and risk of loss passes to the customer, which occurs either upon shipment or delivery, depending upon the agreed sales terms with customers.

The Company's reportable segments reflect the core businesses in which Innophos operates and how it is managed. The Company reports its core specialty phosphates business separately from granular triple super-phosphate, or GTSP, and other non-specialty phosphate products (GTSP & Other). Specialty Phosphates consists of three products lines: Specialty Ingredients; Food & Technical Grade PPA; and STPP & Detergent Grade PPA. Innophos Nutrition, Inc. is included in the Specialty

Page 21 of 39

INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

Phosphates US & Canada segment and in the Specialty Ingredients product line. GTSP & Other includes fertilizer co-product GTSP and other non-specialty phosphate products.

Prior to 2016, the primary performance indicators for the chief operating decision maker were sales and operating income. As of January 1, 2016, the primary performance indicators for the chief operating decision maker as of 2016 are sales and EBITDA and all prior periods have been recasted to reflect the change from operating income to EBITDA. The Company's chief operating decision maker, its new Chief Executive Officer as of December 14, 2015, decided that EBITDA is the measure for assessing the performance of the Company's segments.

For the three months ended September 30, 2016	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	127,796	$	41,326	$	16,915		$	—		$	186,037
Intersegment sales	1,526		13,693		—			(15,219		)	—
Total sales	$	129,322	$	55,019	$	16,915		$	(15,219	)	$	186,037
EBITDA (a)	$	15,300	$	16,145	$	383		$	—		$	31,828
Depreciation and amortization expense	$	7,218	$	1,576	$	1,249		$	—		$	10,043
For the three months ended September 30, 2015	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	145,617	$	40,304	$	13,691		$	—		$	199,612
Intersegment sales	1,743		15,117		26			(16,886		)	—
Total sales	$	147,360	$	55,421	$	13,717		$	(16,886	)	$	199,612
EBITDA (b)	$	21,015	$	5,068	$	(7,104	)	$	—		$	18,979
Depreciation and amortization expense	$	6,622	$	1,637	$	789		$	—		$	9,048
For the nine months ended September 30, 2016	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	395,069	$	122,188	$	40,298		$	—		$	557,555
Intersegment sales	8,705		39,674		132			(48,511		)	—
Total sales	$	403,774	$	161,862	$	40,430		$	(48,511	)	$	557,555
EBITDA (a)	$	54,338	$	38,562	$	(1,942	)	$	—		$	90,958
Depreciation and amortization expense	$	19,902	$	5,600	$	3,105		$	—		$	28,607
For the nine months ended September 30, 2015	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	441,116	$	126,410	$	50,989		$	—		$	618,515
Intersegment sales	7,704		43,335		171			(51,210		)	—
Total sales	$	448,820	$	169,745	$	51,160		$	(51,210	)	$	618,515
EBITDA (b)	$	63,449	$	22,216	$	(5,859	)	$	—		$	79,806
Depreciation and amortization expense	$	20,348	$	6,930	$	2,403		$	—		$	29,681

(a) The three and nine months ended September 30, 2016 include a $1.5 million charge to earnings for restructuring costs, recorded in GTSP & Other.

(b) The three and nine months ended September 30, 2015 include an $8.6 million charge to earnings for restructuring costs, recorded in GTSP & Other.

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INNOPHOS HOLDINGS, INC. AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements (Unaudited)

(Dollars in thousands, except per share amounts, share amounts or where otherwise noted)

A reconciliation of net income to EBITDA follows:

	Three months ended
	September 30, 2016		September 30, 2015
Net income	$	13,643	$	5,433
Provision for income taxes	6,227		2,629
Interest expense, net	1,915		1,869
Depreciation and amortization	10,043		9,048
EBITDA	$	31,828	$	18,979
	Nine months ended
	September 30, 2016		September 30, 2015
Net income	$	38,589	$	30,979
Provision for income taxes	18,135		14,723
Interest expense, net	5,627		4,423
Depreciation and amortization	28,607		29,681
EBITDA	$	90,958	$	79,806

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Innophos is a leading international producer of performance-critical and nutritional specialty ingredients, with applications in food, beverage, dietary supplements, pharmaceutical, oral care and industrial end markets. Innophos combines more than a century of experience in specialty phosphate manufacturing with a growing capability in a broad range of other specialty ingredients to supply a product range produced to stringent regulatory manufacturing standards and the quality demanded by customers worldwide. Many of Innophos' products are application-specific compounds engineered to meet customer performance requirements and are often critical to the taste, texture and performance of foods, beverages, pharmaceuticals, dietary supplements, oral care products and other applications. For example, Innophos products act as flavor enhancers in beverages, electrolytes in sports drinks, texture additives in cheeses, leavening agents in baked goods, pharmaceutical excipients, cleaning agents in toothpaste and provide a wide range of nutritional fortification solutions for food, beverage and nutritional supplement manufacturers.

Recent Trends and Outlook

Specialty Phosphates volumes are expected to decline by 6-8% for full year 2016 compared with 2015, primarily due to reduced sales in lower margin, less differentiated applications and weak end market demand due to continued pressures on packaged foods.

Market phosphate rock and sulfur prices declined modestly for the third quarter 2016. Raw material costs are expected to continue at current levels in the fourth quarter.

Cost improvements from the restructuring program implemented in the third quarter 2015 were in line with expectations, with $3 million lower costs realized in the current quarter against the third-quarter 2015 baseline. Additional year-on-year cost savings were delivered due to detailed cost management. Management continues to review cost actions and productivity initiatives given the challenging market conditions.

Net income and EBITDA (defined as net income (loss) before interest, income taxes, depreciation and amortization) for the fourth quarter are expected to be somewhat softer compared with first and second quarter 2016 when considering the following net effects.

•Seasonably weaker Q4 revenues along with continued headwinds in sales

•Strength of US Dollar continuing to attract competition from overseas and to pressure exports from the US

•Raw material costs at current levels and continued operational excellence cost savings

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Historical Performance

Results of Operations

The following table sets forth a summary of the Company’s operations and their percentages of total revenue for the periods indicated (dollars in millions):

	Three Months Ended			Three Months Ended
	September 30, 2016			September 30, 2015
	Amount		%	Amount		%
Net sales	$	186.0	100.0	$	199.6	100.0
Cost of goods sold	145.5		78.2	162.5		81.4
Gross profit	40.5		21.8	37.1		18.6
Operating expenses:
Selling, general and administrative	17.7		9.5	23.4		11.7
Research & development	0.9		0.5	1.1		0.6
Income from operations	21.9		11.8	12.6		6.3
Interest expense, net	1.9		1.0	1.9		1.0
Foreign exchange losses, net	0.1		0.1	2.6		1.3
Provision for income taxes	6.3		3.4	2.7		1.4
Net income	$	13.6	7.3	$	5.4	2.7

	Nine Months Ended			Nine Months Ended
	September 30, 2016			September 30, 2015
	Amount		%	Amount		%
Net sales	$	557.5	100.0	$	618.5	100.0
Cost of goods sold	440.1		78.9	499.9		80.8
Gross profit	117.4		21.1	118.6		19.2
Operating expenses:
Selling, general and administrative	51.7		9.3	60.0		9.7
Research & development	2.9		0.5	3.4		0.5
Income from operations	62.8		11.3	55.2		8.9
Interest expense, net	5.6		1.0	4.4		0.7
Foreign exchange losses, net	0.5		0.1	5.1		0.8
Provision for income taxes	18.1		3.3	14.7		2.4
Net income	$	38.6	6.9	$	31.0	5.0

Three months ended September 30, 2016 compared to the three months ended September 30, 2015

Net Sales

Net sales represent the selling price of the products, net of any customer-related rebates, plus freight and any other items invoiced to customers. Net sales for the three months ended September 30, 2016 were $186.0 million, a decrease of $13.6 million, or 6.8%, as compared to $199.6 million for the same period in 2015. Specialty Phosphates sales were down 9.0%, or $16.8 million, with volumes lower by 8.5%, or $15.8 million, due to reduced sales in lower margin, less differentiated applications, and reduced demand across product lines in core markets served, and selling prices lower by 0.5%, or $1.0 million. The volume decrease was mostly recognized in the United States and Canada Specialty Phosphates segment. GTSP & Other sales were up 23.5%, or $3.2 million, with volumes higher by 50.4%, or $6.9 million, but prices lower by 26.9%, or $3.7 million, as market prices remained at the lowest levels seen in six years.

The Company calculates pure selling price dollar variances as the selling price for the current year to date period minus the selling price for the prior year to date period, and then multiplies the resulting selling price difference by the prior year to date period volume. Volume variance is calculated as the total sales variance minus the selling price variance and refers to the revenue effect of changes in tons sold at the relative prices applicable to the variation in tons, otherwise known as volume/mix.

Page 25 of 39

The following table illustrates for the three months ended September 30, 2016 the percentage changes in net sales by reportable segment compared with the same period of the prior year, including the effect of price and volume/mix changes upon revenue:

	Price		Volume/Mix		Total
Specialty Phosphates US & Canada	(0.7	)%	(11.5	)%	(12.2	)%
Specialty Phosphates Mexico	0.2	%	2.3	%	2.5	%
Total Specialty Phosphates	(0.5	)%	(8.5	)%	(9.0	)%
GTSP & Other	(26.9	)%	50.4	%	23.5	%
Total	(2.3	)%	(4.5	)%	(6.8	)%

The following table illustrates for the three months ended September 30, 2016 the percentage changes for net sales by Specialty Phosphates product lines compared with the same period of the prior year, including the effect of price and volume/mix changes:

	Price		Volume/Mix		Total
Specialty Ingredients	0.5	%	(11.0	)%	(10.5	)%
Food & Technical Grade PPA	(4.5	)%	(9.0	)%	(13.5	)%
STPP & Detergent Grade PPA	—	%	12.8	%	12.8	%

Gross Profit

Gross profit represents net sales less cost of goods sold. Gross profit for the three months ended September 30, 2016 was $40.5 million, an increase of $3.4 million, or 9.2%, as compared to $37.1 million for the same period in 2015. Gross profit percentage of net sales increased to 21.8% for the three months ended September 30, 2016 versus 18.6% for the same period in 2015. Gross profit in 2016 was favorably affected by $6.7 million lower raw material costs, largely phosphate rock and sulfur, $1.4 million favorable exchange rates from our Mexican peso and Canadian dollar based costs, and $1.3 million lower manufacturing costs due to savings from the 2015 restructuring program and focus on cost controls. These favorable effects were partially offset by $4.7 million lower selling prices, $3.1 million lower sales volume and $1.0 million higher depreciation. Included in 2015 gross profit was $2.8 million restructuring cost.

Operating Expenses and Research and Development

Operating expenses consist primarily of selling, general and administrative expenses and research and development expenses. Operating expenses for the three months ended September 30, 2016 were $18.6 million, a decrease of $5.9 million, or 24.1%, as compared to $24.5 million for the same period in 2015. The decrease is due to $4.3 million lower restructuring costs and $2.6 million lower costs related to savings from the 2015 restructuring program and lower discretionary spending. These favorable effects were partially offset by $1.0 million higher short term incentive accruals.

Operating Income

Operating income for the three months ended September 30, 2016 was $21.9 million, an increase of $9.3 million, or 73.8%, as compared to $12.6 million for the same period in 2015. Operating income as a percentage of net sales increased to 11.8% versus 6.3% for the same period in 2015, for the reasons noted above.

Interest Expense, net

Net interest expense, including deferred financing amortization expense, for the three months ended September 30, 2016 was $1.9 million, unchanged from the $1.9 recorded in the same period in 2015.

Foreign Exchange

Foreign exchange for the three months ended September 30, 2016 was a loss of $0.1 million as compared to a loss of $2.6 million for the same period in 2015. The US Dollar is the functional currency of our Mexican and Canadian operations. The Company has greater foreign denominated asset balances (largely Mexican Peso and Canadian Dollar), such as VAT receivables and prepaid income taxes in foreign jurisdictions, than offsetting foreign denominated liability balances. As the US Dollar strengthened throughout the prior year period versus the Mexican Peso and the Canadian Dollar, the re-measurement of the net foreign asset denominated balances contributed to a net foreign exchange loss. Consequently, foreign exchange gain or loss is recorded on re-measurement of non-US Dollar denominated monetary assets and liabilities. Such gains and losses

Page 26 of 39

fluctuate from period to period as the foreign currencies strengthen or weaken against the US Dollar and the amount of non-US Dollar denominated assets and liabilities increases or decreases.

Provision for Income Taxes

The effective income tax rate was 31% for the three months ended September 30, 2016 compared to 33% for the same period in 2015. The variance in the effective tax rate is primarily due to higher taxable income in low tax rate jurisdictions which decreased the effective tax rate by 2% in the current period.

Net Income

Net income for the three months ended September 30, 2016 was $13.6 million, an increase of $8.2 million, as compared to $5.4 million for the same period in 2015, due to the factors described above.

Nine months ended September 30, 2016 compared to the nine months ended September 30, 2015

Net Sales

Net sales represent the selling price of the products, net of any customer-related rebates, plus freight and any other items invoiced to customers. Net sales for the nine months ended September 30, 2016 were $557.5 million, a decrease of $61.0 million, or 9.9%, as compared to $618.5 million for the same period in 2015. Specialty Phosphates sales were down 8.9%, or $50.3 million, with volumes lower by 8.0%, or $44.9 million, and selling prices lower by 0.9%, or $5.4 million. The volume decrease was mostly recognized in the United States and Canada Specialty Phosphates segment due to reduced sales in lower margin, less differentiated applications, and reduced demand across product lines in core markets served. GTSP & Other sales were down 21.0%, or $10.7 million, with volumes lower by 1.2%, or $0.6 million, and prices lower by 19.8%, or $10.1 million, due to weak fertilizer market conditions.

The Company calculates pure selling price dollar variances as the selling price for the current year to date period minus the selling price for the prior year to date period, and then multiplies the resulting selling price difference by the prior year to date period volume. Volume variance is calculated as the total sales variance minus the selling price variance and refers to the revenue effect of changes in tons sold at the relative prices applicable to the variation in tons, otherwise known as volume/mix.

The following table illustrates for the nine months ended September 30, 2016 the percentage changes in net sales by reportable segment compared with the same period of the prior year, including the effect of price and volume/mix changes upon revenue:

	Price		Volume/Mix		Total
Specialty Phosphates US & Canada	(0.5	)%	(9.9	)%	(10.4	)%
Specialty Phosphates Mexico	(2.4	)%	(0.9	)%	(3.3	)%
Total Specialty Phosphates	(0.9	)%	(8.0	)%	(8.9	)%
GTSP & Other	(19.8	)%	(1.2	)%	(21.0	)%
Total	(2.5	)%	(7.4	)%	(9.9	)%

The following table illustrates for the nine months ended September 30, 2016 the percentage changes for net sales by Specialty Phosphates product lines compared with the same period of the prior year, including the effect of price and volume/mix changes:

	Price		Volume/Mix		Total
Specialty Ingredients	(0.2	)%	(8.8	)%	(9.0	)%
Food & Technical Grade PPA	(3.4	)%	(8.9	)%	(12.3	)%
STPP & Detergent Grade PPA	(1.5	)%	1.8	%	0.3	%

Gross Profit

Gross profit represents net sales less cost of goods sold. Gross profit for the nine months ended September 30, 2016 was $117.4 million, a decrease of $1.2 million, or 1.0%, as compared to $118.6 million for the same period in 2015. Gross profit percentage of net sales increased to 21.1% for the nine months ended September 30, 2016 versus 19.2% for the same period in 2015. Gross profit in 2016 was unfavorably affected by $15.5 million lower selling prices and $14.5 million lower sales

Page 27 of 39

volume. These unfavorable effects were partially offset by $13.9 million lower raw material costs, largely phosphate rock and sulfur, $6.8 million lower manufacturing costs due to savings from the 2015 restructuring program and focus on cost controls, $4.1 million favorable exchange effects from our Mexican peso and Canadian dollar based costs, and $1.2 million lower depreciation. Included in 2015 gross profit was $2.8 million restructuring cost.

Operating Expenses and Research and Development

Operating expenses consist primarily of selling, general and administrative expenses and research and development expenses. Operating expenses for the nine months ended September 30, 2016 were $54.6 million, a decrease of $8.8 million, or 13.9%, as compared to $63.4 million for the same period in 2015. The decrease is due to $7.2 million lower costs related to savings from the 2015 restructuring program, $4.3 million lower restructuring costs and $0.7 million favorable exchange effects from our Mexican peso based costs. These favorable effects were partially offset by $1.9 million of strategy consulting fees and first quarter 2016 CEO transition costs, and $1.5 million higher short term incentive accruals.

Operating Income

Operating income for the nine months ended September 30, 2016 was $62.8 million, an increase of $7.6 million, or 13.8%, as compared to $55.2 million for the same period in 2015. Operating income as a percentage of net sales increased to 11.3% versus 8.9% for the same period in 2015, for the reasons noted above.

Interest Expense, net

Net interest expense, including deferred financing amortization expense, for the nine months ended September 30, 2016 was $5.6 million, an increase of $1.2 million, or 27.3%, as compared to $4.4 million for the same period in 2015. The increase was mainly due to higher average loan balances and interest rates.

Foreign Exchange

Foreign exchange for the nine months ended September 30, 2016 was a loss of $0.5 million as compared to a loss of $5.1 million for the same period in 2015. The US Dollar is the functional currency of our Mexican and Canadian operations. The Company has greater foreign denominated asset balances (largely Mexican Peso and Canadian Dollar), such as VAT receivables and prepaid income taxes in foreign jurisdictions, than offsetting foreign denominated liability balances. As the US Dollar strengthened throughout the prior year period versus the Mexican Peso and the Canadian Dollar, the re-measurement of the net foreign asset denominated balances contributed to a net foreign exchange loss. Consequently, foreign exchange gain or loss is recorded on re-measurement of non-US Dollar denominated monetary assets and liabilities. Such gains and losses fluctuate from period to period as the foreign currencies strengthen or weaken against the US Dollar and the amount of non-US Dollar denominated assets and liabilities increases or decreases.

Provision for Income Taxes

The effective income tax rate was 32% for the nine months ended September 30, 2016 compared to 32% for the same period in 2015. A permanent adjustment attributable to an inventory obsolescence reserve in Mexico which increased the effective tax rate by 1% in the current year was offset by foreign tax benefits, mainly in Mexico related to de-consolidation of our Mexican subsidiaries for income tax reporting purposes, which decreased the effective tax rate by 1%.

Net Income

Net income for the nine months ended September 30, 2016 was $38.6 million, an increase of $7.6 million, as compared to $31.0 million for the same period in 2015, due to the factors described above.

Page 28 of 39

Segment Reporting

The Company reports its core Specialty Phosphates business separately from GTSP & Other. Specialty Phosphates consists of three product lines: Specialty Ingredients; Food & Technical Grade PPA; and STPP & Detergent Grade PPA. Innophos Nutrition, Inc. is included in the Specialty Phosphates US & Canada segment and in the Specialty Ingredients product line. GTSP & Other includes fertilizer co-product GTSP and other non-Specialty Phosphate products. The primary performance indicators for the chief operating decision maker are sales and EBITDA. The following table sets forth the results of these indicators by segment for the three and nine months ended September 30, 2016 and 2015:

	Three Months Ended
	September 30, 2016			September 30, 2015			Net Sales % Change
Segment Net Sales
Specialty Phosphates US & Canada	$	127,796		$	145,617		(12.2	)%
Specialty Phosphates Mexico	41,326			40,304			2.5	%
Total Specialty Phosphates	169,122			185,921			(9.0	)%
GTSP & Other	16,915			13,691			23.5	%
Total	$	186,037		$	199,612		(6.8	)%
Segment EBITDA
Specialty Phosphates US & Canada	$	15,300		$	21,015
Specialty Phosphates Mexico	16,145			5,068
Total Specialty Phosphates	31,445			26,083
GTSP & Other (a) (b)	383			(7,104		)
Total	$	31,828		$	18,979
Segment EBITDA % of net sales
Specialty Phosphates US & Canada	12.0		%	14.4		%
Specialty Phosphates Mexico	39.1		%	12.6		%
Total Specialty Phosphates	18.6		%	14.0		%
GTSP & Other	2.3		%	(51.9		)%
Total	17.1		%	9.5		%
Depreciation and amortization expense
Specialty Phosphates US & Canada	$	7,218		$	6,622
Specialty Phosphates Mexico	1,576			1,637
Total Specialty Phosphates	$	8,794		$	8,259
GTSP & Other	1,249			789
Total	$	10,043		$	9,048

(a) The three months ended September 30, 2016 includes a $1.5 million charge to earnings for restructuring costs.

(b) The three months ended September 30, 2015 includes an $8.6 million charge to earnings for restructuring costs.

Page 29 of 39

	Nine Months Ended
	September 30, 2016			September 30, 2015			Net Sales % Change
Segment Net Sales
Specialty Phosphates US & Canada	$	395,069		$	441,116		(10.4	)%
Specialty Phosphates Mexico	122,188			126,410			(3.3	)%
Total Specialty Phosphates	517,257			567,526			(8.9	)%
GTSP & Other	40,298			50,989			(21.0	)%
Total	$	557,555		$	618,515		(9.9	)%
Segment EBITDA
Specialty Phosphates US & Canada	$	54,338		$	63,449
Specialty Phosphates Mexico	38,562			22,216
Total Specialty Phosphates	92,900			85,665
GTSP & Other (a) (b)	(1,942		)	(5,859		)
Total	$	90,958		$	79,806
Segment EBITDA % of net sales
Specialty Phosphates US & Canada	13.8		%	14.4		%
Specialty Phosphates Mexico	31.6		%	17.6		%
Total Specialty Phosphates	18.0		%	15.1		%
GTSP & Other	(4.8		)%	(11.5		)%
Total	16.3		%	12.9		%
Depreciation and amortization expense
Specialty Phosphates US & Canada	$	19,902		$	20,348
Specialty Phosphates Mexico	5,600			6,930
Total Specialty Phosphates	$	25,502		$	27,278
GTSP & Other	3,105			2,403
Total	$	28,607		$	29,681

(a) The nine months ended September 30, 2016 includes a $1.5 million charge to earnings for restructuring costs.

(b) The nine months ended September 30, 2015 includes an $8.6 million charge to earnings for restructuring costs.

Page 30 of 39

A reconciliation of net income to EBITDA follows:

	Three months ended
	September 30, 2016		September 30, 2015
Net income	$	13,643	$	5,433
Provision for income taxes	6,227		2,629
Interest expense, net	1,915		1,869
Depreciation and amortization	10,043		9,048
EBITDA	$	31,828	$	18,979

	Nine months ended
	September 30, 2016		September 30, 2015
Net income	$	38,589	$	30,979
Provision for income taxes	18,135		14,723
Interest expense, net	5,627		4,423
Depreciation and amortization	28,607		29,681
EBITDA	$	90,958	$	79,806

Three months ended September 30, 2016 compared to the three months ended September 30, 2015

Segment Net Sales:

Specialty Phosphates US & Canada net sales decreased 12.2% for the three months ended September 30, 2016 compared with the same period in 2015. Average selling prices decreased by 0.7% and volumes decreased 11.5% due to reduced sales of lower margin, less differentiated applications, and reduced demand across product lines in core markets served.

Specialty Phosphates Mexico net sales increased 2.5% for the three months ended September 30, 2016 compared with the same period in 2015 due to higher STPP and Detergent Grade PPA sales. Average selling prices increased 0.2% and volumes increased 2.3%.

GTSP & Other net sales increased 23.5% for the three months ended September 30, 2016 compared with the same period in 2015. Volumes increased 50.4% while average selling prices decreased 26.9% due to the lowest market price levels seen in six years.

Segment EBITDA Percentage of Net Sales:

The 240 basis point decrease in Specialty Phosphates US & Canada EBITDA margins for the three months ended September 30, 2016 compared with the same period in 2015 is due to lower sales volume/mix which decreased margins by 490 basis points and lower selling prices which decreased margins by 60 basis points, partially offset by lower manufacturing and operating expenses which increased margins by 180 basis points, lower raw material costs, largely PPA, which increased margins by 80 basis points, and favorable translation effects which increased margins by 50 basis points.

The 2,650 basis point increase in Specialty Phosphates Mexico EBITDA margins for the three months ended September 30, 2016 compared with the same period in 2015 is due to lower raw material costs, phosphate rock and sulfur, which increased margins by 2,290 basis points, favorable exchange rate and translation effects which increased margins by 610 basis points, and increased sales volume/mix which increased margins by 90 basis points. This increase was partially offset by higher manufacturing expenses which decreased margins by 340 basis points.

The 5,420 basis point increase in GTSP & Other EBITDA margins for the three months ended September 30, 2016 compared with the same period in 2015 is due to lower restructuring costs which increased margins by 5,200 basis points, increased sales volume/mix which increased margins by 2,130 basis points, lower raw material cost which increased margins by 1,860 basis points, lower manufacturing expenses which increased margins by 1,070 basis points, and favorable exchange rate and translation effects which increased margins by 770 basis points. This increase was partially offset by lower selling prices which decreased margins by 5,610 basis points.

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Nine months ended September 30, 2016 compared to the nine months ended September 30, 2015

Segment Net Sales:

Specialty Phosphates US & Canada net sales decreased 10.4% for the nine months ended September 30, 2016 compared with the same period in 2015. Average selling prices decreased by 0.5% and volumes decreased 9.9% due to reduced sales of lower margin, less differentiated applications, and reduced demand across product lines in core markets served.

Specialty Phosphates Mexico net sales decreased 3.3% for the nine months ended September 30, 2016 compared with the same period in 2015. Average selling prices decreased 2.4%, primarily due to competitive pressures on PPA, and volumes decreased 0.9%.

GTSP & Other net sales decreased 21.0% for the nine months ended September 30, 2016 compared with the same period in 2015. Volumes decreased 1.2% and average selling prices decreased 19.8% due to weak fertilizer market conditions.

Segment EBITDA Percentage of Net Sales:

The 60 basis point decrease in Specialty Phosphates US & Canada EBITDA margins for the nine months ended September 30, 2016 compared with the same period in 2015 is due to lower sales volume/mix which decreased margins by 150 basis points, higher raw material costs, largely merchant green acid, which decreased margins by 100 basis points, and lower selling prices which decreased margins by 50 basis points. This decrease was partially offset by lower manufacturing and operating expenses which increased margins by 190 basis points and favorable translation effects which increased margins by 50 basis points.

The 1,400 basis point increase in Specialty Phosphates Mexico EBITDA margins for the nine months ended September 30, 2016 compared with the same period in 2015 is due to lower raw material costs, phosphate rock and sulfur, which increased margins by 1,040 basis points, favorable exchange rate and translation effects which increased margins by 430 basis points, and lower manufacturing and operating expenses which increased margins by 210 basis points. This increase was partially offset by lower selling prices which decreased margins by 210 basis points and lower sales volume/mix which decreased margins by 70 basis points.

The 670 basis point increase in GTSP & Other EBITDA margins for the nine months ended September 30, 2016 compared with the same period in 2015 is due to lower restructuring costs which increased margins by 1,390 basis points, lower raw material cost which increased margins by 970 basis points, higher sales volume/mix which increased margins by 740 basis points, and favorable exchange rate and translation effects which increased margins by 350 basis points. This increase was partially offset by lower selling prices which decreased margins by 2,740 basis points and higher turnaround costs which decreased margins by 40 basis points.

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Liquidity and Capital Resources

The following table sets forth a summary of the Company’s cash flows for the periods indicated.

(Dollars in millions)	Three months ended
	September 30, 2016			September 30, 2015
Operating Activities	$	81.8		$	75.9
Investing Activities	(25.7		)	(21.8		)
Financing Activities	(41.6		)	(4.0		)
Effect of foreign exchange rate changes	0.3			(0.3		)

Nine months ended September 30, 2016 compared to nine months ended September 30, 2015

Net cash from operating activities was a source of $81.8 million for the nine months ended September 30, 2016 as compared to source of $75.9 million for 2015, an increase of $5.9 million. The increase in cash from operating activities resulted from favorable changes of $7.6 million in net income, as described earlier, and $5.5 million in working capital, partially offset by unfavorable changes of $6.5 million in other long term assets and liabilities and $0.7 million in non-cash adjustments to income.

The favorable change in working capital was derived from it being a source of cash of $16.4 million in 2016 compared to a source in 2015 of $10.9 million, an increase in cash of $5.5 million. The favorable change in working capital was due to favorable changes in inventory of $18.0 million due to lower raw material costs and adjustments for lower customer demand, $10.0 million in accounts receivable due to lower sales levels, and accounts payable of $8.1 million due to large vendor payables at December 31, 2014, which were paid during the first quarter of 2015. These favorable changes in working capital were partially offset by unfavorable changes in other current liabilities of $21.5 million largely due to U.S. income tax payments of $18.6 million for immediate recognition of revenue for income tax purposes which is not expected to recur, and other current assets of $9.1 million because of high other current assets related to income and VAT taxes at December 31, 2014. Accounts receivable as a percent of quarterly sales, when adjusted for GTSP open accounts receivable of $0.2 million, $1.8 million, $1.3 million, $0.3 million, and $0.9 million as of September 30, 2016, June 30, 2016, March 31, 2016, December 31, 2015, and September 30, 2015, respectively, was consistent with the last four quarters' average.

Net cash used for investing activities was $25.7 million for the nine months ended September 30, 2016, compared to $21.8 million for 2015, an increase in capital spending of $3.9 million.

Approximately 68% of the capital spending for the nine months ended September 30, 2016 was for maintenance and the remaining 32% was for strategic growth initiatives. The majority of the strategic growth investments were focused on improving the production efficiency and packaging at our Nashville, Tennessee facility, continuous reliability improvement at our Coatzacoalcos, Mexico facility and investments to support the manufacturing restructuring. Our expectation for 2016 capital expenditures is in the range of $34 million to $36 million, which is below prior projections due to timing of certain projects that will fall into 2017. The capital expenditures are due to requirements to support strategic manufacturing initiatives and restructuring, along with continuous improvement in our plants.

Net cash from financing activities for the nine months ended September 30, 2016 was a use of $41.6 million, compared to a use of $4.0 million in 2015, a decrease in cash of $37.6 million. This decrease in cash was largely due to $120.0 million decreased loan borrowings and $43.0 million increased loan repayments, partially offset by $125.1 million decreased stock repurchases. The loan borrowings in 2015 were largely used to fund the share repurchases.

Innophos and its subsidiaries and affiliates may from time to time seek to acquire or otherwise retire outstanding debt through privately negotiated transactions, exchanges or otherwise. Debt repurchases or exchanges, if any, will depend on prevailing market conditions, Company liquidity requirements, restrictive financial covenants and other factors applicable at the time. The amounts involved may be material.

Given the 2015 margin compression that the Company experienced, management evaluated several initiatives to improve the overall operating efficiency of the organization. As a result of this evaluation which was concluded during the third quarter of 2015, we launched an initiative to reduce our cost structure by implementing various staff reduction actions. During the nine

Page 33 of 39

months ended September 30, 2016, the Company spent $6.2 million related to these activities, and anticipates to spend $5.9 million within the next twelve months.

On September 30, 2016, the Company had cash and cash equivalents outside the United States of $24.6 million, or 75% of the Company's balance. Furthermore, the foreign cash amounts are not restricted by law to be used in other countries. In the event we plan to repatriate cash and cash equivalents held outside of the United States, we may be required to accrue and pay United States income taxes to repatriate these funds.

The Company’s available financial resources allow for the continuation of dividend payments, pursuit of acquisition projects and further geographic expansion initiatives. We further believe that on-hand cash combined with cash generated from operations, including our Mexican and Canadian operations, and availability under our revolving line of credit, will be sufficient to meet our obligations such as debt service, tax payments, capital expenditures, dividend payments and working capital requirements for at least the next twelve months. We expect to fund all of these obligations through our existing cash and our future operating cash flows. However, future operating performance for the Company is subject to prevailing economic and competitive conditions and various other factors that are uncertain. If the cash flows and other capital resources available to the Company, such as its revolving loan facility, are insufficient to fund our debt and other liquidity needs, the Company may have to take alternative actions that differ from current operating plans.

Critical Accounting Estimates and Policies

Goodwill

The GTSP and Other reporting unit fair value currently exceeds the carrying value of the assets.

However, if GTSP market softness continues as we have experienced during the nine months ended September 30, 2016, and if GTSP pricing does not return to historical levels, this reporting unit may incur a goodwill impairment charge in the future. The GTSP & Other reporting unit has an allocated goodwill value of $3.3 million. In addition, if we were to decrease the long-term growth rate by 1% or increase the discount rate used in the calculation by 1%, assuming all other variables constant, there would be a goodwill impairment for the GTSP & Other reporting unit.

Other than the above, there have been no material changes from the critical accounting estimates previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2015.

Page 34 of 39

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We are exposed to certain market risks as part of our ongoing business operations. Primary exposures include changes in interest rates, as borrowings under our credit agreement will bear interest at floating rates based on LIBOR plus an applicable borrowing margin. We manage our interest rate risk by balancing the amount of fixed-rate and floating-rate debt to the extent practicable consistent with our credit status. For fixed-rate debt, interest rate changes do not affect earnings or cash flows. Conversely, for floating-rate debt, interest rate changes generally affect our earnings and cash flows, assuming other factors are held constant.

At September 30, 2016, we had $85 million principal amount of variable-rate debt remaining on a term loan and a $225.0 million revolving credit facility, of which $115.0 million of variable-rate debt was outstanding, both of which approximate fair value (determined using level 2 inputs within the fair value hierarchy). Total remaining availability was $109 million, taking into account $1.0 million in face amount of letters of credit issued under the sub-facility. Simultaneously with initiating the new senior facility, Innophos entered into an interest rate swap, swapping the LIBOR exposure on $100.0 million of floating rate debt with a fixed rate of 0.9475% plus the applicable margin on the debt expiring in December 2017. This interest rate swap has been designated as a cash flow hedge with the changes in value recorded through other comprehensive income. The fair value of this interest rate swap of approximately $0.3 million (determined using level 2 inputs within the fair value hierarchy) is recorded in other long-term liabilities as of September 30, 2016.

Changes in economic conditions could result in higher interest rates, thereby increasing our interest expense on our revolving line of credit. Changes in economic conditions may also result in lower operating income, reducing our funds available for capital investment, operations or other purposes. In addition, a substantial portion of our operating cash flow and available borrowing capacity on our credit facility has been used to repurchase shares, pay dividends, fund capital expenditures, fund working capital needs and service debt, which may affect our ability to make future acquisitions. We have and may continue from time to time use interest rate protection agreements to minimize our exposure to interest rate fluctuation. Regardless of hedges, we may experience economic loss and a negative impact on earnings or net assets as a result of interest rate fluctuations. Based on $100.0 million outstanding borrowings as floating rate debt (amount not covered by the swap), an immediate increase of one percentage point would cause an increase to interest expense of approximately $1.0 million per year.

From time to time, we may enter into longer term natural gas supply contracts in an effort to eliminate some of the volatility in our energy costs. We did not enter into any economic hedges in the past three years.

We do not currently, but may from time to time, hedge our currency rate risks.

We believe that our concentration of credit risk related to trade accounts receivable is limited since these receivables are spread among a number of customers and are geographically dispersed. No customer accounted for more than 10% of our sales in the last 3 years.

Foreign Currency Exchange Rates

The US Dollar is the functional currency of the Canadian and Mexican operations. Accordingly, these operations’ monetary assets and liabilities are remeasured at current exchange rates, non-monetary assets and liabilities are remeasured at historical exchange rates, and revenue and expenses are remeasured at average exchange rates and at historical exchange rates for the related revenue and expenses of non-monetary assets and liabilities. All transaction gains and losses are included in net income.

Our principal source of exchange rate exposure in our foreign operations consists of expenses, such as labor expenses, which are denominated in the foreign currency of the country in which we operate. A decline in the value of the US Dollar relative to the local currency would generally cause our operational expenses (particularly labor costs) to increase (conversely, a decline in the value of the foreign currency relative to the US Dollar would cause these expenses to decrease). We believe that normal exchange rate fluctuations consistent with recent historical trends would have a modest impact on our expenses, and would not materially affect our financial condition or results of operations. Nearly all of our sales are denominated in US Dollars and our exchange rate exposure in terms of sales revenues is minimal. However, the strength or weakness of the USD versus other currencies can affect our competitiveness in the US and export markets.

Inflation and changing prices

Our costs and expenses will be subject to inflation and price fluctuations. Significant price fluctuations in raw materials, freight and energy costs, if not compensated for by cost savings from production efficiencies or price increases passed on to customers, could have a material effect on our financial condition and results of operations.

Page 35 of 39

Off-Balance Sheet Arrangements

We do not have any relationships with unconsolidated entities or financial partnerships, such as entities often referred to as “structured finance or special purpose entities”, which would have been established for the purpose of facilitating off-balance sheet arrangements or other contractually narrow or limited purposes.

ITEM 4. CONTROLS AND PROCEDURES

Disclosure Control and Procedures

The Company maintains disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934) that are designed to provide reasonable assurance that information required to be reported in the Company's consolidated financial statements and filings is recorded, processed, summarized and reported within the periods specified in the rules and forms of the Securities and Exchange Commission, or SEC, and that such information is accumulated and communicated to the Company's management, including its Principal Executive Officer and Principal Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. Any controls and procedures, no matter how well designed and operated, can provide only reasonable, not absolute, assurance of achieving the desired control objectives.

As of September 30, 2016, the Company completed an evaluation under the supervision and with the participation of the Company's management, including the Company's Principal Executive Officer and Principal Financial Officer, of the effectiveness of the design and operation of the Company's disclosure controls and procedures. Based upon that evaluation, the Principal Executive Officer and Principal Financial Officer concluded that the Company's disclosure controls and procedures are effective at the reasonable assurance level.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Changes in Internal Control over Financial Reporting

There have been no changes in our internal control over financial reporting during or with respect to the third quarter of 2016 that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.

Page 36 of 39

PART II

ITEM 1. LEGAL PROCEEDINGS

Note 12 of Notes to Consolidated Condensed Financial Statements in “Part I, Item 1. Financial Statements" contained in this Quarterly Report on Form 10-Q is incorporated herein by reference.

ITEM 1A. RISK FACTORS

There have been no material changes from the risk factors previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2015.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

None.

ITEM 5. OTHER INFORMATION

None.

ITEM 6. EXHIBITS

a) Exhibits. The following exhibits are filed or furnished as part of this report:

Exhibit No.	Description
31.1	Certification of Principal Executive Officer dated October 31, 2016 pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of Principal Financial Officer dated October 31, 2016 pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1*	Certification of Principal Executive Officer dated October 31, 2016 pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2*	Certification of Principal Financial Officer dated October 31, 2016 pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

* Not to be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liability of that section, nor deemed to be incorporated by reference into any filing under that Act or the Securities Act of 1933.

Page 37 of 39

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

INNOPHOS HOLDINGS, INC.
	/s/ Kim Ann Mink
By:	Kim Ann Mink
Its:	Chief Executive Officer, President and Director
	(Principal Executive Officer)
Dated:	October 31, 2016
INNOPHOS HOLDINGS, INC.
	/s/ Han Kieftenbeld
By:	Han Kieftenbeld
Its:	Senior Vice President and Chief Financial Officer
	(Principal Financial Officer)
Dated:	October 31, 2016

Page 38 of 39

EXHIBIT INDEX

Exhibit No.	Description
31.1	Certification of Principal Executive Officer dated October 31, 2016 pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of Principal Financial Officer dated October 31, 2016 pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1*	Certification of Principal Executive Officer dated October 31, 2016 pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2*	Certification of Principal Financial Officer dated October 31, 2016 pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

* Not to be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liability of that section, nor deemed to be incorporated by reference into any filing under that Act or the Securities Act of 1933.

Page 39 of 39

EX-31.1

Exhibit 31.1

CERTIFICATIONS

I, Kim Ann Mink, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Innophos Holdings, Inc. (“the registrant”);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated:	October 31, 2016	By:	/S/    KIM ANN MINK
			Kim Ann Mink
			Chief Executive Officer, President and Director (Principal Executive Officer)

EX-31.2

Exhibit 31.2

I, Han Kieftenbeld, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Innophos Holdings, Inc. (“the registrant”);

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated:	October 31, 2016	By:	/S/    HAN KIEFTENBELD
			Han Kieftenbeld
			Vice President and Chief Financial Officer (Principal Financial Officer)

EX-32.1

Exhibit 32.1

Certification Pursuant to § 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. § 1350)

I, Kim Ann Mink, certify that:

1. the accompanying Quarterly Report on Form 10-Q for the period ended September 30, 2016 (the “Report”), fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934, as amended; and

2. the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Innophos Holdings, Inc. at the dates and for the periods indicated.

A signed original of this written statement required by Section 906 has been provided Innophos Holdings, Inc. and will be retained by Innophos Holdings, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

The undersigned expressly disclaims any obligation to update the foregoing certification except as required by law.

Date: October 31, 2016

/S/    KIM ANN MINK        

Kim Ann Mink

Chief Executive Officer and Director

(Principal Executive Officer)

The foregoing certification is being furnished solely pursuant to the requirements of 18 U.S.C. § 1350 and is not being filed as a part of the Report or as a separate disclosure document.

EX-32.2

Exhibit 32.2

Certification Pursuant to § 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. § 1350)

I, Han Kieftenbeld, certify that:

1. the accompanying Quarterly Report on Form 10-Q for the period ended September 30, 2016 (the “Report”), fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934, as amended; and

2. the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Innophos Holdings, Inc. at the dates and for the periods indicated.

A signed original of this written statement required by Section 906 has been provided Innophos Holdings, Inc. and will be retained by Innophos Holdings, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

The undersigned expressly disclaims any obligation to update the foregoing certification except as required by law.

Date: October 31, 2016

/S/  HAN KIEFTENBELD        

Han Kieftenbeld

Senior Vice President and Chief Financial Officer

(Principal Financial Officer)

The foregoing certification is being furnished solely pursuant to the requirements of 18 U.S.C. § 1350 and is not being filed as a part of the Report or as a separate disclosure document.

XML

Document and Entity Information Document	9 Months Ended
	Sep. 30, 2016 shares
Document Information [Line Items]
Entity Registrant Name	Innophos Holdings, Inc.
Trading Symbol	IPHS
Entity Central Index Key	0001364099
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding	19,429,164
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

XML

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents	$ 32,796	$ 17,905
Accounts receivable, net	79,845	79,743
Inventories	139,481	172,667
Other current assets	21,248	23,514
Total current assets	273,370	293,829
Property, plant and equipment, net	202,861	199,494
Goodwill	84,373	84,373
Intangibles and other assets, net	84,209	90,522
Total assets	644,813	668,218
Current liabilities:
Current portion of long-term debt	4,000	4,002
Accounts payable, trade and other	34,524	36,898
Other current liabilities	46,339	63,204
Total current liabilities	84,863	104,104
Long-term debt	195,170	207,665
Other long-term liabilities	19,411	23,189
Total liabilities	299,444	334,958
Commitments and contingencies (note 12)
Stockholders’ equity:
Common stock, par value $.001 per share; authorized 100,000,000 shares; issued 22,741,645 and 22,586,016 shares and outstanding 19,429,164 and 19,290,025 shares	19	19
Paid-in capital	134,462	132,399
Common stock held in treasury, at cost (3,312,481 and 3,295,991 shares)	(175,016)	(174,685)
Retained earnings	388,944	378,321
Accumulated other comprehensive loss	(3,040)	(2,794)
Total stockholders’ equity	345,369	333,260
Total liabilities and stockholders’ equity	$ 644,813	$ 668,218

XML

Condensed Consolidated Balance Sheets (Unaudited) Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Common Stock, Shares, Issued	22,741,645	22,586,016
Common Stock, Shares, Outstanding	19,429,164	19,290,025
Treasury Stock, Shares	3,312,481	3,295,991
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	100,000,000	100,000,000

XML

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Net sales	$ 186,037	$ 199,612	$ 557,555	$ 618,515
Cost of goods sold	145,497	162,491	440,149	499,873
Gross profit	40,540	37,121	117,406	118,642
Operating expenses:
Selling, general and administrative	17,749	23,368	51,716	60,026
Research & development expenses	896	1,193	2,913	3,430
Total operating expenses	18,645	24,561	54,629	63,456
Operating income	21,895	12,560	62,777	55,186
Interest expense, net	1,915	1,869	5,627	4,423
Foreign exchange loss	110	2,629	426	5,061
Income before income taxes	19,870	8,062	56,724	45,702
Provision for income taxes	6,227	2,629	18,135	14,723
Net income	13,643	5,433	38,589	30,979
Net income attributable to participating common shareholders	$ 13,548	$ 5,416	$ 38,356	$ 30,916
Income per participating share:
Basic	$ 0.70	$ 0.28	$ 1.99	$ 1.52
Diluted	$ 0.69	$ 0.28	$ 1.96	$ 1.50
Weighted average participating shares outstanding:
Basic	19,294,070	19,390,246	19,255,143	20,330,118
Diluted	19,670,159	19,662,591	19,572,003	20,633,609
Other comprehensive income (loss), net of tax:
Change in interest rate swaps, (net of tax of ($126), $189, $143 and $434)	$ 204	$ (308)	$ (234)	$ (709)
Change in pension and post-retirement plans, (net of tax of ($24), ($96), $10 and ($204))	78	283	(12)	595
Other comprehensive income (loss), net of tax	282	(25)	(246)	(114)
Comprehensive income	$ 13,925	$ 5,408	$ 38,343	$ 30,865

XML

Condensed Consolidated Statements of Comprehensive Income (Unaudited) Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax	$ (126)	$ 189	$ 143	$ 434
Other Comprehensive Income (Loss) Pension and Post-Retirement Plans Tax Effect Period Increase Decrease	$ (24)	$ (96)	$ 10	$ (204)

XML

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows provided from operating activities
Net income	$ 38,589	$ 30,979
Adjustments to reconcile net income to net cash provided from operating activities:
Depreciation and amortization	28,607	29,681
Amortization of deferred financing charges	505	445
Deferred income tax provision	363	169
Share-based compensation	2,329	2,243
Changes in assets and liabilities:
Increase in accounts receivable	(107)	(10,091)
Decrease in inventories	33,092	15,057
Decrease in other current assets	2,102	11,241
Decrease in accounts payable	(2,545)	(10,609)
(Decrease) increase in other current liabilities	(16,145)	5,342
Changes in other long-term assets and liabilities	(4,986)	1,480
Net cash provided from operating activities	81,804	75,937
Cash flows used for investing activities:
Capital expenditures	(25,675)	(21,770)
Net cash used for investing activities	(25,675)	(21,770)
Cash flows used for financing activities:
Proceeds from exercise of stock options	9	190
Long-term debt borrowings	36,000	156,000
Long-term debt repayments	(49,002)	(6,002)
Deferred financing costs	0	(277)
Excess tax (deficiency) benefit from exercise of stock options	(346)	771
Common stock repurchases and restricted stock forfeitures	(331)	(125,402)
Dividends paid	(27,891)	(29,322)
Net cash used for financing activities	(41,561)	(4,042)
Effect of foreign exchange rate on changes on cash and cash equivalents	323	(285)
Net change in cash	14,891	49,840
Cash and cash equivalents at beginning of period	17,905	36,207
Cash and cash equivalents at end of period	$ 32,796	$ 86,047

XML

Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Number of Common Shares	Common Stock	Retained Earnings	Paid-in Capital	Accumulated Other Comprehensive Income(Loss)
Balance, shares at Dec. 31, 2014		21,480,000
Balance at Dec. 31, 2014	$ 463,007		$ 21	$ 390,525	$ 75,274	$ (2,813)
Net income	26,346			26,346
Other comprehensive income (loss), net of tax	19					19
Proceeds from stock award exercises and issuances, shares		139,000
Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Including Stock Options
Proceeds from stock award exercises and issuances	246				246
Share-based compensation	6,618				6,618
Stock Repurchased During Period, Shares		(2,319,000)
Stock Repurchased During Period, Value	(125,000)		(2)		(124,998)
Excess tax benefits from exercise of stock options	975				975
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited		(10,000)
Restricted Stock Award, Forfeitures	(401)				(401)
Dividends declared	$ (38,550)			(38,550)
Balance, shares at Dec. 31, 2015	19,290,025	19,290,000
Balance at Dec. 31, 2015	$ 333,260		19	378,321	(42,286)	(2,794)
Net income	38,589			38,589
Other comprehensive income (loss), net of tax	(246)					(246)
Proceeds from stock award exercises and issuances, shares		156,000
Proceeds from stock award exercises and issuances	(831)				(831)
Share-based compensation	3,240				3,240
Adjustments to Additional Paid in Capital, Income Tax Deficiency from Share-based Compensation	(346)				(346)
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited		(17,000)
Restricted Stock Award, Forfeitures	(331)				(331)
Dividends declared	$ (27,966)			(27,966)
Balance, shares at Sep. 30, 2016	19,429,164	19,429,000
Balance at Sep. 30, 2016	$ 345,369		$ 19	$ 388,944	$ (40,554)	$ (3,040)

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Statements of Stockholders' Equity (Unaudited) Statements of Stockholders' Equity Parenthetical - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Other Comprehensive Income (Loss), Tax	$ 153	$ (2)

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Basis of Statement Presentation

9 Months Ended

Sep. 30, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

Basis of Statement Presentation

Summary of Significant Accounting Policies

The accompanying unaudited condensed consolidated financial statements of Innophos have been prepared in accordance with generally accepted accounting principles in the United States of America (US GAAP) for interim financial reporting and do not include all disclosures required by US GAAP for annual financial reporting, and should be read in conjunction with the audited consolidated and combined financial statements of the Company at December 31, 2015 and for the three years then ended.

The accompanying unaudited condensed consolidated financial statements of the Company reflect all adjustments which management considers necessary for a fair statement of the results of operations for the interim periods and is subject to year-end adjustments. The results of operations for the interim periods are not necessarily indicative of the results for the full year. The December 31, 2015 condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by US GAAP.

Recently Issued Accounting Standards

Adopted

In June 2014, the Financial Accounting Standard Board (FASB) issued guidance which requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. The guidance is effective for the interim and annual periods beginning on or after December 15, 2015. The adoption of this standard did not have a material impact on our financial position, results of operations and related disclosures.

In January 2015, the FASB issued new accounting rules which remove the concept of extraordinary items from US GAAP. Under the existing guidance, an entity is required to separately disclose extraordinary items, net of tax, in the income statement after income from continuing operations if an event or transaction is of an unusual nature and occurs infrequently. This separate, net-of-tax presentation (and corresponding earnings per share impact) will no longer be allowed. The new rules will be effective for us in the first quarter of 2016. The adoption of the new accounting rules did not have a material impact on our financial position, results of operations and related disclosures.

In February 2015, the FASB issued amendments to the criteria for determining which entities are considered variable interest entities (VIEs) and to the criteria for determining if a service provider possesses a variable interest in a VIE and ends the deferral granted to investment companies for application of the VIE consolidation model. This guidance is effective for annual and interim reporting periods of public entities beginning after December 15, 2015. The adoption of this standard did not have a material impact on our financial position, results of operations and related disclosures.

In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This guidance is effective for annual and interim reporting periods of public entities beginning after December 15, 2015, and early adoption is permitted. The adoption of the new accounting rules did not have a material impact on our financial position, results of operations and related disclosures, although it did change the financial statement classification of our debt issuance costs.

Issued but not yet adopted

In May 2014, the FASB issued guidance on revenue from contracts with customers that will supersede most current revenue recognition guidance, including industry-specific guidance. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The guidance provides a five-step analysis of transactions to determine when and how revenue is recognized. Other major provisions include capitalization of certain contract costs, consideration of time value of money in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. The guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. The guidance is effective for the interim and annual periods beginning on or after December 15, 2017 (early adoption is permitted to the interim periods within the year of adoption). In July 2015 the FASB deferred the effective date by one year. The guidance permits the use of either a retrospective or cumulative effect transition method. We have not yet selected a transition method and are currently evaluating the impact of the amended guidance on our consolidated financial position, results of operations and related disclosures.

In August 2014, the FASB issued guidance which establishes management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. The amendments require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles in US auditing standards. Specifically, ASU 2014-15 provides a definition of the term substantial doubt and requires an assessment for a period of one year after the date that the financial statements are issued or available to be issued. It also requires certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans and requires an express statement and other disclosures when substantial doubt is not alleviated. The guidance is effective for the interim and annual periods beginning on or after December 15, 2016; early adoption is permitted. We do not anticipate that the adoption of this standard will have a material impact on our financial position, results of operations and related disclosures.

In July 2015, the FASB issued guidance which requires entities to measure most inventory “at the lower of cost and net realizable value (“NRV”),” thereby simplifying the current guidance under which an entity must measure inventory at the lower of cost or market. Under the new guidance, inventory is “measured at the lower of cost and net realizable value,” which eliminates the need to determine replacement cost and evaluate whether it is above the ceiling (NRV) or below the floor (NRV less a normal profit margin). The guidance defines NRV as the “estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation.” The guidance is effective for annual periods beginning after December 15, 2016, and interim periods therein. Early application is permitted. We do not anticipate the adoption of the new accounting rules will have a material impact on our financial position, results of operations and related disclosures.

In September 2015, the FASB issued guidance which eliminates the requirement to retrospectively adjust the financial statements for measurement-period adjustments that occur in periods after a business combination is consummated.  Measurement period adjustments are calculated as if they were known at the acquisition date, but are recognized in the reporting period in which they are determined.  Additional disclosures are required about the impact on current-period income statement line items of adjustments that would have been recognized in prior periods if prior-period information had been revised. The guidance is effective for annual periods beginning after December 15, 2015 and is to be applied prospectively to adjustments of provisional amounts that occur after the effective date.  Early application is permitted. We do not anticipate the new accounting rules will have a material impact on our financial position, results of operations and related disclosures.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) in order to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet for those leases classified as operating leases under previous GAAP. ASU 2016-02 requires that a lessee should recognize a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term on the balance sheet. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018 (including interim periods within those periods) using a modified retrospective approach and early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption of the ASU on its consolidated financial statements.

In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, which amends Accounting Standards Codification ("ASC") Topic 718, Compensation - Stock Compensation.  ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years and early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption of the ASU on its consolidated financial statements.

In March 2016, the FASB issued ASU 2016-15, Clarification on Classification of Certain Cash Receipts and Cash Payments on the Statement of Cash Flows. ASU 2016-15 clarifies the classification of certain cash receipts and cash payments in the statement of cash flows, including debt prepayment or extinguishment costs, settlement of contingent consideration arising from a business combination, insurance settlement proceeds, and distributions from certain equity method investees. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. Early adoption is permitted. The Company is evaluating the impact of adopting this new accounting guidance on our consolidated financial statements.

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Earnings Per Share (EPS)

9 Months Ended

Sep. 30, 2016

Earnings Per Share Reconciliation [Abstract]

Earnings Per Share (EPS)

Earnings per Share (EPS)

The Company accounts for earnings per share in accordance with ASC 260, which requires two calculations of earnings per share (EPS) to be disclosed: basic EPS and diluted EPS. Under ASC Subtopic 260-10-45, as of January 1, 2009 unvested awards of share-based payments with rights to receive dividends or dividend equivalents, such as our restricted stock, are considered participating securities for purposes of calculating EPS. Under the two-class method, a portion of net income is allocated to these participating securities and therefore is excluded from the calculation of EPS allocated to common stock, as shown in the table below.

The numerator for basic and diluted earnings per share is net earnings attributable to shareholders reduced by dividends attributable to unvested shares. The denominator for basic earnings per share is the weighted average number of common stock outstanding during the period. The denominator for diluted earnings per share is weighted average shares outstanding adjusted for the effect of dilutive outstanding stock options, performance share awards and restricted stock awards.

The following is a reconciliation of the weighted average basic number of common shares outstanding to the diluted number of common and common stock equivalent shares outstanding and the calculation of earnings per share using the two-class method:

	Three Months Ended						Nine Months Ended
	September 30, 2016			September 30, 2015			September 30, 2016			September 30, 2015
Net income	$	13,643		$	5,433		$	38,589		$	30,979
Less: earnings attributable to unvested shares	(95		)	(17		)	(233		)	(63		)
Net income available to participating common shareholders	$	13,548		$	5,416		$	38,356		$	30,916
Weighted average number of participating common and potential common shares outstanding:
Basic number of participating common shares outstanding	19,294,070			19,390,246			19,255,143			20,330,118
Dilutive effect of stock equivalents	376,089			272,345			316,860			303,491
Diluted number of weighted average participating common shares outstanding	19,670,159			19,662,591			19,572,003			20,633,609
Earnings per participating common share:
Earnings per participating common share—Basic	$	0.70		$	0.28		$	1.99		$	1.52
Earnings per participating common share—Diluted	$	0.69		$	0.28		$	1.96		$	1.50
Total outstanding options, performance share awards and unvested restricted stock not included in the calculation of diluted earnings per share as the effect would be anti-dilutive	461,193			404,602			520,422			373,456

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Dividends

9 Months Ended

Sep. 30, 2016

Dividends [Abstract]

Dividends [Text Block]

Dividends

The following is the dividend activity for the three and nine months ended September 30, 2016 and September 30, 2015:

	Three Months Ended				Nine Months Ended
	September 30				September 30
	2016		2015		2016		2015
Dividends declared – per share	$	0.48	$	0.48	$	1.44	$	1.44
Dividends declared – aggregate	9,327		9,261		27,891		29,322
Dividends paid – per share	0.48		0.48		1.44		1.44
Dividends paid – aggregate	9,327		9,261		27,891		29,322

Innophos Holdings, Inc. is a holding company that does not conduct any business operations of its own. As a result, it is dependent upon cash dividends, distributions and other transfers from its subsidiaries, most directly Innophos, Inc., its primary operating subsidiary, and Innophos Investments Holdings, Inc., a direct, wholly-owned subsidiary of Innophos Holdings, Inc. and the parent of Innophos, Inc., to make dividend payments on its common stock.

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Stockholders' Equity / Share-Based Compensation

9 Months Ended

Sep. 30, 2016

Share-based Compensation [Abstract]

Share-Based Compensation

Stockholders’ Equity / Stock-Based Compensation

Restricted Stock

In April 2016 there were a total of 88,590 restricted shares granted to certain employees with a fair value of $2.8 million. These awards are classified as equity awards and vest annually over a weighted average of 2.9 years. The related compensation expense is based on the date of grant share price of $31.44. The compensation expense is amortized on a straight-line basis over the requisite vesting period and accelerated for those employees that are retirement eligible during the vesting period.

Stock Options

In April 2016 the Company made grants of 400,216 non-qualified stock options at a weighted average exercise price of $31.18 per share to certain employees with a fair value of $1.8 million. The non-qualified stock options vest annually over three years and expire in ten years.

The fair value of the options granted in 2016 were determined using the Black-Scholes option-pricing model. The assumptions used in the Black-Scholes option-pricing model were as follows for the April 1, 2016 and April 13, 2016 grants, respectively:

Non-qualified stock options
Expected volatility	33.8	%
Dividend yield	6.6	%
Risk-free interest rate	1.42	%
Expected term (years)	6.6
Weighted average grant date fair value of stock options	4.62

For the 2016 grants the expected volatility and the expected term are based on the Company's historical data. The dividend yield is the expected annual dividend payments divided by the average stock price since announcement of the latest dividend change up to the date of grant. The risk-free interest rates are derived from the U.S. Treasury securities in effect on the date of grant whose maturity period equals the options expected term. The Company applies an expected forfeiture rate to stock-based compensation expense. The estimate of the forfeiture rate is based primarily upon historical experience of employee turnover. As actual forfeitures become known, stock-based compensation expense is adjusted accordingly.

Stock Grants

In May 2016 the seven non-employee members of the Board of Directors were granted a combined total of 16,457 shares of the Company's common stock with an aggregated fair value of approximately $0.6 million which immediately vested as part of their director fees.

The following table summarizes the components of stock-based compensation expense, all of which has been classified as selling, general and administrative expense:

	Three Months Ended				Nine Months Ended
	September 30, 2016		September 30, 2015		September 30, 2016		September 30, 2015
Stock options	$	354	$	327	$	439	$	1,029
Restricted stock	497		300		837		938
Performance shares	177		31		458		(234		)
Stock grants	—		—		595		510
Total share-based compensation expense (a)	$	1,028	$	658	$	2,329	$	2,243

(a) The three and nine months ended September 30, 2016 include a charge of $269 and a net benefit of $255 due to restructuring activities.

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Inventories

9 Months Ended

Sep. 30, 2016

Inventory Disclosure [Abstract]

Inventories [Text Block]

Inventories

Inventories consist of the following:

	September 30, 2016		December 31, 2015
Raw materials	$	41,049	$	44,391
Finished products	85,013		115,305
Spare parts	13,419		12,971
	$	139,481	$	172,667

Inventory reserves for excess quantities, obsolescence or shelf-life expiration as of September 30, 2016 and December 31, 2015 were $13,571 and $16,946, respectively. The Company decreased its net realizable value reserve for GTSP by $536 in the nine months ended September 30, 2016.

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Other Current Assets

9 Months Ended

Sep. 30, 2016

Other Current Assets: [Abstract]

Other Current Assets [Text Block]

Other Current Assets

Other current assets consist of the following:

	September 30, 2016		December 31, 2015
Creditable taxes (value added taxes)	$	5,270	$	8,235
Vendor inventory deposits (prepaid)	4,450		7,977
Prepaid income taxes	6,862		2,668
Prepaid insurance	1,557		2,070
Other	3,109		2,564
	$	21,248	$	23,514

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Intangibles and Other Assets, net

9 Months Ended

Sep. 30, 2016

Intangibles and Other Assets, net: [Abstract]

Intangibles and Other Assets, net [Text Block]

Intangibles and Other Assets, net

Intangibles and other assets consist of the following:

	Useful life (years)	September 30, 2016		December 31, 2015
Developed technology and application patents, net of accumulated amortization of $27,044 for 2016 and $24,840 for 2015	7-20	$	19,231	$	21,435
Customer relationships, net of accumulated amortization of $17,880 for 2016 and $15,812 for 2015	5-15	20,932		23,000
Trade names and license agreements, net of accumulated amortization of $9,972 for 2016 and $8,944 for 2015	5-20	7,689		8,717
Non-compete agreements, net of accumulated amortization of $1,230 for 2016 and $1,112 for 2015	3-10	103		221
Total intangibles		$	47,955	$	53,373
Deferred income taxes		$	28,998	$	28,842
Other tax assets		5,377		6,014
Other assets		1,879		2,293
Total other assets		$	36,254	$	37,149
		$	84,209	$	90,522

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Other Current Liabilities

9 Months Ended

Sep. 30, 2016

Other Liabilities, Current [Abstract]

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

Other Current Liabilities

Other current liabilities consist of the following:

	September 30, 2016		December 31, 2015
Payroll related	$	11,352	$	9,513
Taxes other than income taxes	2,707		5,779
Benefits and pensions	4,905		5,764
Freight and rebates	3,827		4,606
Income taxes	11,851		23,609
Restructuring and management transition reserve	5,861		9,335
Other	5,836		4,598
	$	46,339	$	63,204

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Debt and Interest

9 Months Ended

Sep. 30, 2016

Short-term Borrowings, Long-Term Debt, and Interest Expense: [Abstract]

Debt and Interest

Short-Term Borrowings, Long-Term Debt, and Interest Expense

Short-term borrowings and long-term debt consist of the following:

	September 30, 2016			December 31, 2015
Term loan due 2017	$	85,000		$	88,000
Revolver borrowings under the credit facility due 2017	115,000			125,000
Deferred financing costs, net of accumulated amortization of $3,297 for 2016 and $2,793 for 2015	(830		)	(1,335		)
Capital leases	—			2
Total borrowings	$	199,170		$	211,667
Less current portion	4,000			4,002
Long-term debt	$	195,170		$	207,665

The Company's credit facility includes a term loan of $100.0 million and a revolving line of credit from the lenders of up to $225.0 million, including a $20.0 million letter of credit sub-facility, all maturing on December 21, 2017. Repayments of the term loan are required at the rate of 1% of original principal amount per quarter beginning on March 31, 2013.

As of September 30, 2016, $85.0 million was outstanding under the term loan and $115.0 million was outstanding under the revolving line of credit, both of which approximate fair value because they have a floating interest rate (determined using level 2 inputs within the fair value hierarchy) with total availability at $109.0 million, taking into account $1.0 million in face amount of letters of credit issued under the sub-facility. The current weighted average interest rate for all debt is 2.8%.

Among its affirmative covenants, the credit agreement governing this credit facility requires the Company to maintain the following consolidated ratios (as defined and calculated according to the credit agreement) as of the end of each fiscal quarter:

(a) “Total Leverage Ratio” less than or equal to 3.00 to 1.00.

(b) “Fixed Charge Coverage Ratio” greater than or equal to 1.25 to 1.00.

As of September 30, 2016, the Company was in full compliance with all debt covenant requirements.

Simultaneous with the term of the credit facility, Innophos entered into an interest rate swap, swapping the LIBOR exposure on $100.0 million adjusting monthly, with a fixed rate of 0.9475% plus the applicable margin on the debt expiring in December 2017. This interest rate swap has been designated as a cashflow hedge (Level 2) with the changes in value recorded through other comprehensive income. The fair value of this interest rate swap of approximately $0.3 million is recorded in other long-term liabilities as of September 30, 2016. Based on $100.0 million outstanding borrowings as floating rate debt (amount not covered by the swap), an immediate increase of one percentage point would cause an increase to interest expense of approximately $1.0 million per year.

We manage our interest rate risk by balancing the amount of fixed-rate and floating-rate debt to the extent practicable consistent with our credit status.

Total interest paid by the Company for all indebtedness for the nine months ended September 30, 2016 and September 30, 2015 was $5,298 and $4,089, respectively.

Interest expense, net consists of the following:

	Three months ended						Nine months ended
	September 30, 2016			September 30, 2015			September 30, 2016			September 30, 2015
Interest expense	$	1,796		$	1,767		$	5,297		4,099
Deferred financing cost	168			160			505			445
Interest income	(14		)	(21		)	(38		)	(58		)
Less: amount capitalized for capital projects	(35		)	(37		)	(137		)	(63		)
Total interest expense, net	$	1,915		$	1,869		$	5,627		$	4,423

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Other Long-Term Liabilities

9 Months Ended

Sep. 30, 2016

Liabilities, Other than Long-term Debt, Noncurrent [Abstract]

Other Liabilities Disclosure [Text Block]

Other Long-Term Liabilities

Other long-term liabilities consist of the following:

	September 30, 2016		December 31, 2015
Deferred income taxes	$	1,408	$	2,135
Pension and post retirement liabilities	9,509		9,612
Restructuring and management transition reserve	2,184		4,054
Uncertain tax positions	1,654		2,416
Environmental liabilities	1,100		1,100
Other liabilities	3,556		3,872
	$	19,411	$	23,189

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Income Taxes

9 Months Ended

Sep. 30, 2016

Inventory Disclosure [Abstract]

Income Tax Disclosure [Text Block]

Income Taxes

The effective income tax rate on income before taxes was approximately 32% for the nine months ended September 30, 2016 compared to approximately 32% for the comparable period in 2015. The change in the components of the effective tax rate are primarily due to a permanent adjustment attributable to an inventory obsolescence reserve in Mexico which increased the effective tax rate by 1% in the current year, which was offset by foreign tax benefits, mainly in Mexico related to de-consolidation of our Mexican subsidiaries for income tax reporting purposes, which decreased the effective tax rate by 1%.

Business is conducted in various countries throughout the world and is subject to tax in numerous jurisdictions. A significant number of tax returns are filed and subject to examination by various federal, state and local tax authorities. Tax examinations are often complex, as tax authorities may disagree with the treatment of items reported requiring several years to resolve. As such, the Company maintains liabilities for possible assessments by tax authorities resulting from known tax exposures for uncertain income tax positions. The Company’s policy is to accrue associated penalties in selling, general and administrative expenses and to accrue interest in net interest expense. Currently, the Company is under examination, or has been contacted for examination on income tax returns, for the years 2007 through 2013. In addition, Innophos Canada, Inc. was assessed approximately $4.0 million for the tax years 2007 and 2008 by the Canadian tax authorities. The Company is contesting the full assessment. After lengthy discussions, the Canadian tax authorities have reassessed these amounts in August 2014 and the Company filed a Notice of Objection with the Canada Revenue Agency Appeals Board in November 2014. The Company filed a petition to Competent Authority who has agreed to accept our matter. The Company believes that its tax position is more likely than not to be sustained. Also, certain state income tax assessments are under protest and the Company believes its financial position is sustainable. The Company estimates the liability for unrecognized tax benefits may decrease by approximately $1.2 million during the next twelve months as a result of possible settlements of income tax authority examinations. Other than the items mentioned above, as of September 30, 2016, no material adjustments have been proposed to the Company's tax positions and the Company currently does not anticipate any adjustments that would result in a material change to its financial position during the next twelve months.

Income taxes paid were $34.8 million and $10.1 million for the nine months ended September 30, 2016 and September 30, 2015, respectively.

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Commitments and Contingencies

9 Months Ended

Sep. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

Commitments And Contingencies Disclosure [Text Block]

Commitments and Contingencies

Environmental

The Company's operations are subject to extensive and changing federal, state, local and international environmental laws, rules and regulations. The Company's manufacturing sites have an extended history of industrial use, and soil and groundwater contamination have or may have occurred in the past and might occur or be discovered in the future.

Environmental efforts are difficult to assess for numerous reasons, including the discovery of new remedial sites, discovery of new information and scarcity of reliable information pertaining to certain sites, improvements in technology, changes in environmental laws, rules and regulations, numerous possible remedial techniques and solutions, difficulty in assessing the involvement of and the financial capability of other potentially responsible parties and the extended time periods over which remediation occurs. Other than the items listed below, the Company is not aware of material environmental liabilities which are probable and estimable. As the Company's environmental contingencies are more clearly determined, it is reasonably possible that amounts may need to be accrued. However, management does not believe, based on current information, that environmental remediation requirements will have a material impact on the Company's results of operations, financial position or cash flows.

Future environmental spending is probable at our site in Nashville, TN, the eastern portion of which had been used historically as a landfill, and a western parcel therein, previously acquired from a third party, which reportedly had housed, but no longer does, a fertilizer and pesticide manufacturing facility. We have an estimated liability with a range of $0.9 million-$1.3 million. The remedial action plan for that site has yet to be finalized, and as such, the Company has recorded a liability, which represents the Company's best estimate, of $1.1 million as of September 30, 2016.

Purchase Commitments and Supplier Concentration

The Company’s business depends on its ability to source raw materials used in its products. Most of the Company’s raw materials are supplied to it by either one or a small number of suppliers. Some of those suppliers rely, in turn, on sole or limited sources of supply for raw materials included in their products. The Company’s raw materials are purchased under supply contracts that vary from long term multi-year supply arrangements to annual agreements. The Company also relies on spot suppliers. In any given year, one or more of these contracts may come up for renewal. As such, on June 23, 2016, the Company received written notice from PCS Purified Phosphates, or PCSPP, an affiliate of Potash Corporation of Saskatchewan, or PCS, that PCSPP does not wish to extend the term of the Amended and Restated Purified Wet Phosphoric Acid Supply Agreement, dated March 23, 2000, beyond July 29, 2018, the end of the current renewal term. The Company currently purchases purified phosphoric acid supply from PCSPP under the agreement and it will continue to qualify and develop additional sources for future supply needs after July 29, 2018.

Litigation

2008 RCRA Civil Enforcement - Geismar, Louisiana plant

Following several inspections by the Environmental Protection Agency, or EPA, at our Geismar, Louisiana purified phosphoric acid, or PPA, plant and related submissions we made to support claimed exemptions from the federal Resource, Conservation and Recovery Act, or RCRA, in March 2008, EPA referred our case to the Department of Justice, or DOJ, for civil enforcement. Although no citations were ever issued or formal proceedings instituted, the agencies claim we violate RCRA by failing to manage appropriately two materials that DOJ/EPA alleges are hazardous wastes. Those materials are: (i) Filter Material from an enclosed intermediate filtration step to further process green phosphoric acid we receive as raw material via pipeline from the adjacent site operated by an affiliate of PCS; and (ii) Raffinate, a co-product we return to PCS under a long-term contract we have with PCS.

Since referral of the case to DOJ, we and PCS have engaged in periodic discussions with DOJ/EPA and the Louisiana Department of Environmental Quality, or LDEQ, or collectively the Government Parties, in order to resolve the matter. In addition to asserting that the two materials in question are not hazardous wastes, we have also sought to demonstrate that both the nature and character of the materials as well as their use, handling and disposition were detailed in a solid waste permit amendment application filed in 1989 by PCS's predecessor, when our plant was first constructed, and approved by the LDEQ under the state RCRA program.

In the course of discussions with the Government Parties, the DOJ/EPA has required that we undertake, as an interim measure, the construction of a new filter unit to replace the enclosed system and allow the removal and separate handling of the Filter Material. We built that unit, which has been operating since 2012.

In an attempt to address the remaining concerns of the Government Parties, we and PCS undertook joint efforts to explore possible technical solutions to the issue of Raffinate treatment. Based upon work so far, there appears to be at least one technically viable approach, namely that of “deep well injection,” which we believe is acceptable to regulators as part of a negotiated solution among the parties.

Although we cannot give assurances as to the future course or ultimate outcome of ongoing negotiations, including whether litigation may ultimately ensue, we believe, based on our appreciation of the current state of the proceedings, that deep well injection is likely to be employed as the technologically acceptable approach for Raffinate. PCS has applied to the relevant government agencies for a deep well permit. We have also applied for our own deep well permit for future business reasons. In negotiated settlements leading to consent decrees with the Governmental Parties, it is also common for penalties relating to previous “non-compliance” to be assessed and, in that connection, we have been advised by the Governmental Parties that they expect to seek penalties against both PCS and us in this case. Although we have argued and made submissions to the effect that for purposes of settlement penalties there is no basis for any substantial penalty to be levied against us, nevertheless, we can give no assurance as to that outcome, or if a penalty is initially assessed as to its amount, or whether it will be necessary for us to oppose or seek indemnity for the assessment by further litigation. Based upon our receipt of a draft consent decree from the Government Parties in June 2014 and subsequent discussions with them, the Company now confirms an assessment of and has increased its estimated liability to $1.4 million for this penalty from its original assessment of $0.9 million. However, further discussions among all parties will be necessary to determine the civil penalties liability and if the matter can be resolved by settlement.

Other Legal Matters

In July 2013, Innophos, Inc. was assessed approximately $1.2 million of sales/use taxes by the State of Louisiana and Ascension Parish. This tax assessment covers certain raw materials used in the production of Phosphoric Acid. The Company is contesting both tax assessments. This assessment covers periods 2004 to 2010 for the Parish and 2007 to 2010 for the State. We have concluded that the contingent liability arising from this matter is neither remote nor probable, but reasonably possible.

In addition, we are party to legal proceedings and contractual disputes that arise in the ordinary course of our business. Except as to the matters specifically discussed, management believes that these matters represent remote liabilities. However, these matters cannot be predicted with certainty and an unfavorable resolution of one or more of them could have a material adverse effect on our business, results of operations, financial condition, and/or cash flows.

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Pension Plans and Postretirement Benefits

9 Months Ended

Sep. 30, 2016

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

Pension Plans and Postretirement Benefits

Net periodic benefit expense for the United States plans:

	For the three months ended September 30, 2016									For the three months ended September 30, 2015
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits			Total
Service cost	$	—		$	46		$	46		$	—		$	80		$	80
Interest cost	30			44			74			29			42			71
Expected return on assets	(37		)	—			(37		)	(35		)	—			(35		)
Amortization of
prior service cost	—			—			—			—			—			—
unrecognized (gain) loss	2			(13		)	(11		)	17			(6		)	11
net transition obligation	—			—			—			—			—			—
Net periodic cost	$	(5	)	$	77		$	72		$	11		$	116		$	127
	For the nine months ended September 30, 2016									For the nine months ended September 30, 2015
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits			Total
Service cost	$	—		$	138		$	138		$	—		$	239		$	239
Interest cost	89			133			222			86			126			212
Expected return on assets	(109		)	—			(109		)	(104		)	—			(104		)
Amortization of
prior service cost	—			—			—			—			—			—
unrecognized (gain) loss	6			(39		)	(33		)	49			(17		)	32
net transition obligation	—			—			—			—			—			—
Net periodic cost	$	(14	)	$	232		$	218		$	31		$	348		$	379

Innophos has no minimum contribution requirements and does not plan to make cash contributions for its US defined benefit pension plan in 2016.

Innophos made its entire cash contribution of $3.5 million for the US defined contribution plan during the first quarter of 2016 for the plan year 2015.

Net periodic benefit expense for the Canadian plans:

	For the three months ended September 30, 2016									For the three months ended September 30, 2015
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits			Total
Service cost	$	92		$	12		$	104		$	84		$	12		$	96
Interest cost	125			13			138			124			13			137
Expected return on assets	(195		)	—			(195		)	(188		)	—			(188		)
Amortization of
actuarial loss (gain)	53			—			53			38			—			38
prior service cost	26			—			26			26			—			26
net transition obligation	—			6			6			—			6			6
Exchange rate changes	29			(9		)	20			429			(104		)	325
Net periodic cost	$	130		$	22		$	152		$	513		$	(73	)	$	440
	For the nine months ended September 30, 2016									For the nine months ended September 30, 2015
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits			Total
Service cost	$	272		$	36		$	308		$	262		$	36		$	298
Interest cost	368			39			407			386			41			427
Expected return on assets	(577		)	—			(577		)	(588		)	—			(588		)
Amortization of
actuarial loss (gain)	156			—			156			120			—			120
prior service cost	79			—			79			83			—			83
net transition obligation	—			17			17			—			18			18
Exchange rate changes	(271		)	68			(203		)	780			(182		)	598
Net periodic cost	$	27		$	160		$	187		$	1,043		$	(87	)	$	956

Innophos Canada, Inc. does not plan to make cash contributions to its Canadian defined benefit plan in 2016.

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Accumulated Other Comprehensive Income (Loss) (Notes)

9 Months Ended

Sep. 30, 2016

Accumulated Other Comprehensive Income (Loss) [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss) by Component:

For the three months ended September 30, 2016	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at June 30, 2016	$	(2,932	)	$	(390	)	$	(3,322	)
Other comprehensive income (loss) before reclassifications	78			204			282
Amounts reclassified from accumulated other comprehensive income	—			—			—
Net current period other comprehensive income (loss)	78			204			282
Balance at September 30, 2016	$	(2,854	)	$	(186	)	$	(3,040	)
For the three months ended September 30, 2015	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at June 30, 2015	$	(2,863	)	$	(39	)	$	(2,902	)
Other comprehensive income (loss) before reclassifications	283			(308		)	(25		)
Amounts reclassified from accumulated other comprehensive income	—			—			—
Net current period other comprehensive income (loss)	283			(308		)	(25		)
Balance at September 30, 2015	$	(2,580	)	$	(347	)	$	(2,927	)
For the nine months ended September 30, 2016	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at December 31, 2015	$	(2,842	)	$	48		$	(2,794	)
Other comprehensive loss before reclassifications	(12		)	(234		)	(246		)
Amounts reclassified from accumulated other comprehensive income (loss)	—			—			—
Net current period other comprehensive income (loss)	(12		)	(234		)	(246		)
Balance at September 30, 2016	$	(2,854	)	$	(186	)	$	(3,040	)
For the nine months ended September 30, 2015	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at December 31, 2014	$	(3,175	)	$	362		$	(2,813	)
Other comprehensive income (loss) before reclassifications	595			(709		)	(114		)
Amounts reclassified from accumulated other comprehensive income (loss)	—			—			—
Net current period other comprehensive income (loss)	595			(709		)	(114		)
Balance at September 30, 2015	$	(2,580	)	$	(347	)	$	(2,927	)

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Restructuring Costs (Notes)

9 Months Ended

Sep. 30, 2016

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

Restructuring Costs

During 2015 management evaluated several initiatives to improve the overall operating efficiency of the organization. As a result of this evaluation we launched an initiative to reduce our cost structure by implementing various staff reduction actions during the third quarter of 2015.

In addition, during the fourth quarter of 2015, the Company experienced a management transition of certain high-level positions, most notably the Chief Executive Officer and the Chief Financial Officer.

During the three and nine months ended September 30, 2016, additional amounts recorded within selling, general and administrative expenses in the statements of operations in connection with continued restructuring were $1,508 and $1,844 (including accelerated stock compensation of $269 for the three and nine months ended September 30, 2016), respectively, and cost of goods sold were $0 and $145, respectively. These amounts were all included in the GTSP & Other segment.

The following table summarizes the fiscal year 2016 activities related to severance and benefits:

For the three months ended September 30, 2016	Restructuring Costs
Balance at June 30, 2016	$	8,955
Expense recorded	1,239
Accelerated share-based compensation expense (a)	—
Payments made	(2,148		)
Balance at September 30, 2016	$	8,046

For the nine months ended September 30, 2016	Restructuring Costs
Balance at December 31, 2015	$	13,389
Expense recorded	1,720
Accelerated share-based compensation expense (a)	(911		)
Payments made	(6,152		)
Balance at September 30, 2016	$	8,046

(a) Accelerated stock-based compensation expense due to management transition.

The Company closed its Paterson, NJ location as of March 31, 2016 and consolidated a majority of the Paterson operations to its Green Pond, South Carolina location. In addition, as a result of further business restructuring, the sale of the Company's Ogden, Utah administration building was completed in July 2016.

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Segment Reporting

9 Months Ended

Sep. 30, 2016

Segment Reporting [Abstract]

Segment Reporting [Text Block]

Segment Reporting

The company discloses certain financial and supplementary information about its reportable segments, revenue by products and revenues by geographic area. Operating segments are defined as components of an enterprise about which separate discrete financial information is evaluated regularly by the chief operating decision maker, in order to decide how to allocate resources and assess performance. The primary performance indicators for the chief operating decision maker are sales and EBITDA (defined as net income (loss) before interest, income taxes, depreciation and amortization), with sales presented on a ship-from basis. All references to sales in this Quarterly Report on Form 10-Q, either on a ship-from or ship-to basis, are on the same basis of revenue recognition and are recognized when title and risk of loss passes to the customer, which occurs either upon shipment or delivery, depending upon the agreed sales terms with customers.

The Company's reportable segments reflect the core businesses in which Innophos operates and how it is managed. The Company reports its core specialty phosphates business separately from granular triple super-phosphate, or GTSP, and other non-specialty phosphate products (GTSP & Other). Specialty Phosphates consists of three products lines: Specialty Ingredients; Food & Technical Grade PPA; and STPP & Detergent Grade PPA. Innophos Nutrition, Inc. is included in the Specialty Phosphates US & Canada segment and in the Specialty Ingredients product line. GTSP & Other includes fertilizer co-product GTSP and other non-specialty phosphate products.

Prior to 2016, the primary performance indicators for the chief operating decision maker were sales and operating income. As of January 1, 2016, the primary performance indicators for the chief operating decision maker as of 2016 are sales and EBITDA and all prior periods have been recasted to reflect the change from operating income to EBITDA. The Company's chief operating decision maker, its new Chief Executive Officer as of December 14, 2015, decided that EBITDA is the measure for assessing the performance of the Company's segments.

For the three months ended September 30, 2016	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	127,796	$	41,326	$	16,915		$	—		$	186,037
Intersegment sales	1,526		13,693		—			(15,219		)	—
Total sales	$	129,322	$	55,019	$	16,915		$	(15,219	)	$	186,037
EBITDA (a)	$	15,300	$	16,145	$	383		$	—		$	31,828
Depreciation and amortization expense	$	7,218	$	1,576	$	1,249		$	—		$	10,043
For the three months ended September 30, 2015	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	145,617	$	40,304	$	13,691		$	—		$	199,612
Intersegment sales	1,743		15,117		26			(16,886		)	—
Total sales	$	147,360	$	55,421	$	13,717		$	(16,886	)	$	199,612
EBITDA (b)	$	21,015	$	5,068	$	(7,104	)	$	—		$	18,979
Depreciation and amortization expense	$	6,622	$	1,637	$	789		$	—		$	9,048
For the nine months ended September 30, 2016	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	395,069	$	122,188	$	40,298		$	—		$	557,555
Intersegment sales	8,705		39,674		132			(48,511		)	—
Total sales	$	403,774	$	161,862	$	40,430		$	(48,511	)	$	557,555
EBITDA (a)	$	54,338	$	38,562	$	(1,942	)	$	—		$	90,958
Depreciation and amortization expense	$	19,902	$	5,600	$	3,105		$	—		$	28,607
For the nine months ended September 30, 2015	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	441,116	$	126,410	$	50,989		$	—		$	618,515
Intersegment sales	7,704		43,335		171			(51,210		)	—
Total sales	$	448,820	$	169,745	$	51,160		$	(51,210	)	$	618,515
EBITDA (b)	$	63,449	$	22,216	$	(5,859	)	$	—		$	79,806
Depreciation and amortization expense	$	20,348	$	6,930	$	2,403		$	—		$	29,681

(a) The three and nine months ended September 30, 2016 include a $1.5 million charge to earnings for restructuring costs, recorded in GTSP & Other.

(b) The three and nine months ended September 30, 2015 include an $8.6 million charge to earnings for restructuring costs, recorded in GTSP & Other.

A reconciliation of net income to EBITDA follows:

	Three months ended
	September 30, 2016		September 30, 2015
Net income	$	13,643	$	5,433
Provision for income taxes	6,227		2,629
Interest expense, net	1,915		1,869
Depreciation and amortization	10,043		9,048
EBITDA	$	31,828	$	18,979
	Nine months ended
	September 30, 2016		September 30, 2015
Net income	$	38,589	$	30,979
Provision for income taxes	18,135		14,723
Interest expense, net	5,627		4,423
Depreciation and amortization	28,607		29,681
EBITDA	$	90,958	$	79,806

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Basis of Statement Presentation (Policies)

9 Months Ended

Sep. 30, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

Recently Issued Accounting Standards

Adopted

In June 2014, the Financial Accounting Standard Board (FASB) issued guidance which requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This update further clarifies that compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. The guidance is effective for the interim and annual periods beginning on or after December 15, 2015. The adoption of this standard did not have a material impact on our financial position, results of operations and related disclosures.

In January 2015, the FASB issued new accounting rules which remove the concept of extraordinary items from US GAAP. Under the existing guidance, an entity is required to separately disclose extraordinary items, net of tax, in the income statement after income from continuing operations if an event or transaction is of an unusual nature and occurs infrequently. This separate, net-of-tax presentation (and corresponding earnings per share impact) will no longer be allowed. The new rules will be effective for us in the first quarter of 2016. The adoption of the new accounting rules did not have a material impact on our financial position, results of operations and related disclosures.

In February 2015, the FASB issued amendments to the criteria for determining which entities are considered variable interest entities (VIEs) and to the criteria for determining if a service provider possesses a variable interest in a VIE and ends the deferral granted to investment companies for application of the VIE consolidation model. This guidance is effective for annual and interim reporting periods of public entities beginning after December 15, 2015. The adoption of this standard did not have a material impact on our financial position, results of operations and related disclosures.

In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This guidance is effective for annual and interim reporting periods of public entities beginning after December 15, 2015, and early adoption is permitted. The adoption of the new accounting rules did not have a material impact on our financial position, results of operations and related disclosures, although it did change the financial statement classification of our debt issuance costs.

Issued but not yet adopted

In May 2014, the FASB issued guidance on revenue from contracts with customers that will supersede most current revenue recognition guidance, including industry-specific guidance. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The guidance provides a five-step analysis of transactions to determine when and how revenue is recognized. Other major provisions include capitalization of certain contract costs, consideration of time value of money in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. The guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. The guidance is effective for the interim and annual periods beginning on or after December 15, 2017 (early adoption is permitted to the interim periods within the year of adoption). In July 2015 the FASB deferred the effective date by one year. The guidance permits the use of either a retrospective or cumulative effect transition method. We have not yet selected a transition method and are currently evaluating the impact of the amended guidance on our consolidated financial position, results of operations and related disclosures.

In August 2014, the FASB issued guidance which establishes management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. The amendments require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles in US auditing standards. Specifically, ASU 2014-15 provides a definition of the term substantial doubt and requires an assessment for a period of one year after the date that the financial statements are issued or available to be issued. It also requires certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans and requires an express statement and other disclosures when substantial doubt is not alleviated. The guidance is effective for the interim and annual periods beginning on or after December 15, 2016; early adoption is permitted. We do not anticipate that the adoption of this standard will have a material impact on our financial position, results of operations and related disclosures.

In July 2015, the FASB issued guidance which requires entities to measure most inventory “at the lower of cost and net realizable value (“NRV”),” thereby simplifying the current guidance under which an entity must measure inventory at the lower of cost or market. Under the new guidance, inventory is “measured at the lower of cost and net realizable value,” which eliminates the need to determine replacement cost and evaluate whether it is above the ceiling (NRV) or below the floor (NRV less a normal profit margin). The guidance defines NRV as the “estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation.” The guidance is effective for annual periods beginning after December 15, 2016, and interim periods therein. Early application is permitted. We do not anticipate the adoption of the new accounting rules will have a material impact on our financial position, results of operations and related disclosures.

In September 2015, the FASB issued guidance which eliminates the requirement to retrospectively adjust the financial statements for measurement-period adjustments that occur in periods after a business combination is consummated.  Measurement period adjustments are calculated as if they were known at the acquisition date, but are recognized in the reporting period in which they are determined.  Additional disclosures are required about the impact on current-period income statement line items of adjustments that would have been recognized in prior periods if prior-period information had been revised. The guidance is effective for annual periods beginning after December 15, 2015 and is to be applied prospectively to adjustments of provisional amounts that occur after the effective date.  Early application is permitted. We do not anticipate the new accounting rules will have a material impact on our financial position, results of operations and related disclosures.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) in order to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet for those leases classified as operating leases under previous GAAP. ASU 2016-02 requires that a lessee should recognize a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term on the balance sheet. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018 (including interim periods within those periods) using a modified retrospective approach and early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption of the ASU on its consolidated financial statements.

In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, which amends Accounting Standards Codification ("ASC") Topic 718, Compensation - Stock Compensation.  ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years and early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption of the ASU on its consolidated financial statements.

In March 2016, the FASB issued ASU 2016-15, Clarification on Classification of Certain Cash Receipts and Cash Payments on the Statement of Cash Flows. ASU 2016-15 clarifies the classification of certain cash receipts and cash payments in the statement of cash flows, including debt prepayment or extinguishment costs, settlement of contingent consideration arising from a business combination, insurance settlement proceeds, and distributions from certain equity method investees. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. Early adoption is permitted. The Company is evaluating the impact of adopting this new accounting guidance on our consolidated financial statements.

Description of Business and Principles of Consolidation [Policy Text Block]

1. Basis of Statement Presentation

Summary of Significant Accounting Policies

The accompanying unaudited condensed consolidated financial statements of Innophos have been prepared in accordance with generally accepted accounting principles in the United States of America (US GAAP) for interim financial reporting and do not include all disclosures required by US GAAP for annual financial reporting, and should be read in conjunction with the audited consolidated and combined financial statements of the Company at December 31, 2015 and for the three years then ended.

The accompanying unaudited condensed consolidated financial statements of the Company reflect all adjustments which management considers necessary for a fair statement of the results of operations for the interim periods and is subject to year-end adjustments. The results of operations for the interim periods are not necessarily indicative of the results for the full year. The December 31, 2015 condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by US GAAP.

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Earnings Per Share (EPS) Earnings Per Share (EPS) (Tables)

9 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following is a reconciliation of the weighted average basic number of common shares outstanding to the diluted number of common and common stock equivalent shares outstanding and the calculation of earnings per share using the two-class method:

	Three Months Ended						Nine Months Ended
	September 30, 2016			September 30, 2015			September 30, 2016			September 30, 2015
Net income	$	13,643		$	5,433		$	38,589		$	30,979
Less: earnings attributable to unvested shares	(95		)	(17		)	(233		)	(63		)
Net income available to participating common shareholders	$	13,548		$	5,416		$	38,356		$	30,916
Weighted average number of participating common and potential common shares outstanding:
Basic number of participating common shares outstanding	19,294,070			19,390,246			19,255,143			20,330,118
Dilutive effect of stock equivalents	376,089			272,345			316,860			303,491
Diluted number of weighted average participating common shares outstanding	19,670,159			19,662,591			19,572,003			20,633,609
Earnings per participating common share:
Earnings per participating common share—Basic	$	0.70		$	0.28		$	1.99		$	1.52
Earnings per participating common share—Diluted	$	0.69		$	0.28		$	1.96		$	1.50
Total outstanding options, performance share awards and unvested restricted stock not included in the calculation of diluted earnings per share as the effect would be anti-dilutive	461,193			404,602			520,422			373,456

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Dividends (Tables)

9 Months Ended

Sep. 30, 2016

Dividends [Abstract]

Schedule of Dividends Payable [Table Text Block]

The following is the dividend activity for the three and nine months ended September 30, 2016 and September 30, 2015:

	Three Months Ended				Nine Months Ended
	September 30				September 30
	2016		2015		2016		2015
Dividends declared – per share	$	0.48	$	0.48	$	1.44	$	1.44
Dividends declared – aggregate	9,327		9,261		27,891		29,322
Dividends paid – per share	0.48		0.48		1.44		1.44
Dividends paid – aggregate	9,327		9,261		27,891		29,322

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Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2016

Share-based Compensation [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]

The following table summarizes the components of stock-based compensation expense, all of which has been classified as selling, general and administrative expense:

	Three Months Ended				Nine Months Ended
	September 30, 2016		September 30, 2015		September 30, 2016		September 30, 2015
Stock options	$	354	$	327	$	439	$	1,029
Restricted stock	497		300		837		938
Performance shares	177		31		458		(234		)
Stock grants	—		—		595		510
Total share-based compensation expense (a)	$	1,028	$	658	$	2,329	$	2,243

(a) The three and nine months ended September 30, 2016 include a charge of $269 and a net benefit of $255 due to restructuring activities.

XML

Inventories (Tables)

9 Months Ended

Sep. 30, 2016

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]

Inventories consist of the following:

	September 30, 2016		December 31, 2015
Raw materials	$	41,049	$	44,391
Finished products	85,013		115,305
Spare parts	13,419		12,971
	$	139,481	$	172,667

XML

Other Current Assets (Tables)

9 Months Ended

Sep. 30, 2016

Other Current Assets: [Abstract]

Schedule of Other Assets [Table Text Block]

Other current assets consist of the following:

	September 30, 2016		December 31, 2015
Creditable taxes (value added taxes)	$	5,270	$	8,235
Vendor inventory deposits (prepaid)	4,450		7,977
Prepaid income taxes	6,862		2,668
Prepaid insurance	1,557		2,070
Other	3,109		2,564
	$	21,248	$	23,514

XML

Intangibles and Other Assets, net Intangibles and Other Assets, net (Tables)

9 Months Ended

Sep. 30, 2016

Intangibles and Other Assets, net: [Abstract]

Intangibles and Other Assets [Table Text Block]

Intangibles and other assets consist of the following:

	Useful life (years)	September 30, 2016		December 31, 2015
Developed technology and application patents, net of accumulated amortization of $27,044 for 2016 and $24,840 for 2015	7-20	$	19,231	$	21,435
Customer relationships, net of accumulated amortization of $17,880 for 2016 and $15,812 for 2015	5-15	20,932		23,000
Trade names and license agreements, net of accumulated amortization of $9,972 for 2016 and $8,944 for 2015	5-20	7,689		8,717
Non-compete agreements, net of accumulated amortization of $1,230 for 2016 and $1,112 for 2015	3-10	103		221
Total intangibles		$	47,955	$	53,373
Deferred income taxes		$	28,998	$	28,842
Other tax assets		5,377		6,014
Other assets		1,879		2,293
Total other assets		$	36,254	$	37,149
		$	84,209	$	90,522

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Other Current Liabilities (Tables)

9 Months Ended

Sep. 30, 2016

Other Liabilities, Current [Abstract]

Other Current Liabilities [Table Text Block]

Other current liabilities consist of the following:

	September 30, 2016		December 31, 2015
Payroll related	$	11,352	$	9,513
Taxes other than income taxes	2,707		5,779
Benefits and pensions	4,905		5,764
Freight and rebates	3,827		4,606
Income taxes	11,851		23,609
Restructuring and management transition reserve	5,861		9,335
Other	5,836		4,598
	$	46,339	$	63,204

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Debt and Interest (Tables)

9 Months Ended

Sep. 30, 2016

Short-term Borrowings, Long-Term Debt, and Interest Expense: [Abstract]

Short-Term Borrowings and Long-Term Debt [Table Text Block]

Short-term borrowings and long-term debt consist of the following:

	September 30, 2016			December 31, 2015
Term loan due 2017	$	85,000		$	88,000
Revolver borrowings under the credit facility due 2017	115,000			125,000
Deferred financing costs, net of accumulated amortization of $3,297 for 2016 and $2,793 for 2015	(830		)	(1,335		)
Capital leases	—			2
Total borrowings	$	199,170		$	211,667
Less current portion	4,000			4,002
Long-term debt	$	195,170		$	207,665

Components of Interest Expense, Net [Table Text Block]

Interest expense, net consists of the following:

	Three months ended						Nine months ended
	September 30, 2016			September 30, 2015			September 30, 2016			September 30, 2015
Interest expense	$	1,796		$	1,767		$	5,297		4,099
Deferred financing cost	168			160			505			445
Interest income	(14		)	(21		)	(38		)	(58		)
Less: amount capitalized for capital projects	(35		)	(37		)	(137		)	(63		)
Total interest expense, net	$	1,915		$	1,869		$	5,627		$	4,423

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Other Long-Term Liabilities (Tables)

9 Months Ended

Sep. 30, 2016

Liabilities, Other than Long-term Debt, Noncurrent [Abstract]

Schedule of Other Long-Term Liabilities

Other long-term liabilities consist of the following:

	September 30, 2016		December 31, 2015
Deferred income taxes	$	1,408	$	2,135
Pension and post retirement liabilities	9,509		9,612
Restructuring and management transition reserve	2,184		4,054
Uncertain tax positions	1,654		2,416
Environmental liabilities	1,100		1,100
Other liabilities	3,556		3,872
	$	19,411	$	23,189

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Pension Plans and Postretirement Benefits (Tables)

9 Months Ended

Sep. 30, 2016

UNITED STATES

Pension Plans and Postretirement Benefits [Line Items]

Schedule of Net Benefit Costs [Table Text Block]

Net periodic benefit expense for the United States plans:

	For the three months ended September 30, 2016									For the three months ended September 30, 2015
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits			Total
Service cost	$	—		$	46		$	46		$	—		$	80		$	80
Interest cost	30			44			74			29			42			71
Expected return on assets	(37		)	—			(37		)	(35		)	—			(35		)
Amortization of
prior service cost	—			—			—			—			—			—
unrecognized (gain) loss	2			(13		)	(11		)	17			(6		)	11
net transition obligation	—			—			—			—			—			—
Net periodic cost	$	(5	)	$	77		$	72		$	11		$	116		$	127
	For the nine months ended September 30, 2016									For the nine months ended September 30, 2015
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits			Total
Service cost	$	—		$	138		$	138		$	—		$	239		$	239
Interest cost	89			133			222			86			126			212
Expected return on assets	(109		)	—			(109		)	(104		)	—			(104		)
Amortization of
prior service cost	—			—			—			—			—			—
unrecognized (gain) loss	6			(39		)	(33		)	49			(17		)	32
net transition obligation	—			—			—			—			—			—
Net periodic cost	$	(14	)	$	232		$	218		$	31		$	348		$	379

CANADA

Pension Plans and Postretirement Benefits [Line Items]

Schedule of Net Benefit Costs [Table Text Block]

Net periodic benefit expense for the Canadian plans:

	For the three months ended September 30, 2016									For the three months ended September 30, 2015
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits			Total
Service cost	$	92		$	12		$	104		$	84		$	12		$	96
Interest cost	125			13			138			124			13			137
Expected return on assets	(195		)	—			(195		)	(188		)	—			(188		)
Amortization of
actuarial loss (gain)	53			—			53			38			—			38
prior service cost	26			—			26			26			—			26
net transition obligation	—			6			6			—			6			6
Exchange rate changes	29			(9		)	20			429			(104		)	325
Net periodic cost	$	130		$	22		$	152		$	513		$	(73	)	$	440
	For the nine months ended September 30, 2016									For the nine months ended September 30, 2015
	Pension benefits			Other benefits			Total			Pension benefits			Other benefits			Total
Service cost	$	272		$	36		$	308		$	262		$	36		$	298
Interest cost	368			39			407			386			41			427
Expected return on assets	(577		)	—			(577		)	(588		)	—			(588		)
Amortization of
actuarial loss (gain)	156			—			156			120			—			120
prior service cost	79			—			79			83			—			83
net transition obligation	—			17			17			—			18			18
Exchange rate changes	(271		)	68			(203		)	780			(182		)	598
Net periodic cost	$	27		$	160		$	187		$	1,043		$	(87	)	$	956

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Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2016

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]

Changes in accumulated other comprehensive income (loss) by Component:

For the three months ended September 30, 2016	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at June 30, 2016	$	(2,932	)	$	(390	)	$	(3,322	)
Other comprehensive income (loss) before reclassifications	78			204			282
Amounts reclassified from accumulated other comprehensive income	—			—			—
Net current period other comprehensive income (loss)	78			204			282
Balance at September 30, 2016	$	(2,854	)	$	(186	)	$	(3,040	)
For the three months ended September 30, 2015	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at June 30, 2015	$	(2,863	)	$	(39	)	$	(2,902	)
Other comprehensive income (loss) before reclassifications	283			(308		)	(25		)
Amounts reclassified from accumulated other comprehensive income	—			—			—
Net current period other comprehensive income (loss)	283			(308		)	(25		)
Balance at September 30, 2015	$	(2,580	)	$	(347	)	$	(2,927	)
For the nine months ended September 30, 2016	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at December 31, 2015	$	(2,842	)	$	48		$	(2,794	)
Other comprehensive loss before reclassifications	(12		)	(234		)	(246		)
Amounts reclassified from accumulated other comprehensive income (loss)	—			—			—
Net current period other comprehensive income (loss)	(12		)	(234		)	(246		)
Balance at September 30, 2016	$	(2,854	)	$	(186	)	$	(3,040	)
For the nine months ended September 30, 2015	Pension and Other Postretirement Adjustments			Changes in Fair Value of Effective Cash Flow Hedges			Total
Balance at December 31, 2014	$	(3,175	)	$	362		$	(2,813	)
Other comprehensive income (loss) before reclassifications	595			(709		)	(114		)
Amounts reclassified from accumulated other comprehensive income (loss)	—			—			—
Net current period other comprehensive income (loss)	595			(709		)	(114		)
Balance at September 30, 2015	$	(2,580	)	$	(347	)	$	(2,927	)

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Restructuring Costs (Tables)

9 Months Ended

Sep. 30, 2016

Restructuring Cost and Reserve [Line Items]

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

The following table summarizes the fiscal year 2016 activities related to severance and benefits:

For the three months ended September 30, 2016	Restructuring Costs
Balance at June 30, 2016	$	8,955
Expense recorded	1,239
Accelerated share-based compensation expense (a)	—
Payments made	(2,148		)
Balance at September 30, 2016	$	8,046

For the nine months ended September 30, 2016	Restructuring Costs
Balance at December 31, 2015	$	13,389
Expense recorded	1,720
Accelerated share-based compensation expense (a)	(911		)
Payments made	(6,152		)
Balance at September 30, 2016	$	8,046

(a) Accelerated stock-based compensation expense due to management transition.

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Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2016

Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]

A reconciliation of net income to EBITDA follows:

	Three months ended
	September 30, 2016		September 30, 2015
Net income	$	13,643	$	5,433
Provision for income taxes	6,227		2,629
Interest expense, net	1,915		1,869
Depreciation and amortization	10,043		9,048
EBITDA	$	31,828	$	18,979
	Nine months ended
	September 30, 2016		September 30, 2015
Net income	$	38,589	$	30,979
Provision for income taxes	18,135		14,723
Interest expense, net	5,627		4,423
Depreciation and amortization	28,607		29,681
EBITDA	$	90,958	$	79,806

Schedule of Segment Reporting Information, by Segment [Table Text Block]

For the three months ended September 30, 2016	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	127,796	$	41,326	$	16,915		$	—		$	186,037
Intersegment sales	1,526		13,693		—			(15,219		)	—
Total sales	$	129,322	$	55,019	$	16,915		$	(15,219	)	$	186,037
EBITDA (a)	$	15,300	$	16,145	$	383		$	—		$	31,828
Depreciation and amortization expense	$	7,218	$	1,576	$	1,249		$	—		$	10,043
For the three months ended September 30, 2015	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	145,617	$	40,304	$	13,691		$	—		$	199,612
Intersegment sales	1,743		15,117		26			(16,886		)	—
Total sales	$	147,360	$	55,421	$	13,717		$	(16,886	)	$	199,612
EBITDA (b)	$	21,015	$	5,068	$	(7,104	)	$	—		$	18,979
Depreciation and amortization expense	$	6,622	$	1,637	$	789		$	—		$	9,048
For the nine months ended September 30, 2016	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	395,069	$	122,188	$	40,298		$	—		$	557,555
Intersegment sales	8,705		39,674		132			(48,511		)	—
Total sales	$	403,774	$	161,862	$	40,430		$	(48,511	)	$	557,555
EBITDA (a)	$	54,338	$	38,562	$	(1,942	)	$	—		$	90,958
Depreciation and amortization expense	$	19,902	$	5,600	$	3,105		$	—		$	28,607
For the nine months ended September 30, 2015	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	441,116	$	126,410	$	50,989		$	—		$	618,515
Intersegment sales	7,704		43,335		171			(51,210		)	—
Total sales	$	448,820	$	169,745	$	51,160		$	(51,210	)	$	618,515
EBITDA (b)	$	63,449	$	22,216	$	(5,859	)	$	—		$	79,806
Depreciation and amortization expense	$	20,348	$	6,930	$	2,403		$	—		$	29,681

(a) The three and nine months ended September 30, 2016 include a $1.5 million charge to earnings for restructuring costs, recorded in GTSP & Other.

(b) The three and nine months ended September 30, 2015 include an $8.6 million charge to earnings for restructuring costs, recorded in GTSP & Other.

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Earnings Per Share (EPS) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income	$ 13,643	$ 5,433	$ 38,589	$ 30,979	$ 26,346
Less: earnings attributable to unvested shares	(95)	(17)	(233)	(63)
Net income available to participating common shareholders	$ 13,548	$ 5,416	$ 38,356	$ 30,916
Basic number of common shares, outstanding	19,294,070	19,390,246	19,255,143	20,330,118
Dilutive effect of stock equivalents	376,089	272,345	316,860	303,491
Dilutived number of weighted average common shares outstanding	19,670,159	19,662,591	19,572,003	20,633,609
Earnings per common share - Basic	$ 0.70	$ 0.28	$ 1.99	$ 1.52
Earnings per common share - Diluted	$ 0.69	$ 0.28	$ 1.96	$ 1.50
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	461,193	404,602	520,422	373,456

XML

Dividends (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Dividends Payable [Line Items]
Dividends declared - per share	$ 0.48	$ 0.48	$ 1.44	$ 1.44
Dividends declared - aggregate	$ 9,327	$ 9,261	$ 27,891	$ 29,322
Common Stock, Dividends, Per Share, Cash Paid	$ 0.48	$ 0.48	$ 1.44	$ 1.44
Dividends paid - aggregate	$ 9,327	$ 9,261	$ 27,891	$ 29,322

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Share-Based Compensation (Details) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended			9 Months Ended		12 Months Ended
	May 31, 2016 USD ($) BoardMembers shares	Sep. 30, 2016 USD ($)	Jun. 30, 2016 USD ($) $ / shares Rate shares	Sep. 30, 2015 USD ($)	Sep. 30, 2016 USD ($)	Sep. 30, 2015 USD ($)	Dec. 31, 2015 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | Rate			33.80%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | Rate			6.60%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | Rate			1.42%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term			6 years 7 months
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost | $ / shares			$ 4.62
Performance Shares Expense		$ 177		$ 31	$ 458	$ (234)
Stock Repurchased During Period, Value							$ (125,000)
Stock Granted, Value, Share-based Compensation, Gross	$ 600
External Members of the Board of Directors | BoardMembers	7
Shares owned by external directors | shares	16,457
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award | shares			88,590
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award			31.44
Stock Granted, Value, Share-based Compensation, Gross			$ 2,800
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period			2 years 11 months
Equity Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award | shares			400,216
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award			31.18
Stock Granted, Value, Share-based Compensation, Gross			$ 1,800
Management [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Shares Expense		$ 269			$ 255

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Share-Based Compensation - Summary of Assumptions Used in the Option-Pricing Model (Details)	3 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	6 years 7 months

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Share-Based Compensation - Schedule of Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation [Abstract]
Stock options	$ 354	$ 327	$ 439	$ 1,029
Restricted stock	497	300	837	938
Performance shares	177	31	458	(234)
Stock Grants Expense	0	0	595	510
Total stock-based compensation expense	$ 1,028	$ 658	$ 2,329	$ 2,243

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Inventories (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Inventory [Line Items]
Raw materials	$ 41,049	$ 44,391
Finished goods	85,013	115,305
Spare parts	13,419	12,971
Inventory, Net	139,481	172,667
Inventory Valuation Reserves	13,571	$ 16,946
GTSP & Other [Member]
Inventory [Line Items]
Valuation Allowances and Reserves, Additions for Adjustments	$ 536

XML

Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Other Current Assets: [Abstract]
Creditable taxes (value added taxes)	$ 5,270	$ 8,235
Vendor inventory deposits (prepaid)	4,450	7,977
Prepaid income taxes	6,862	2,668
Prepaid Insurance	1,557	2,070
Other	3,109	2,564
Other Assets, Current	$ 21,248	$ 23,514

XML

Intangibles and Other Assets, net (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Intangible Assets, Net (Excluding Goodwill)	$ 47,955	$ 53,373
Deferred Tax Assets, Net, Noncurrent	28,998	28,842
Long-term Investments and Receivables, Net	5,377	6,014
Other Assets, Miscellaneous	1,879	2,293
Other Assets	36,254	37,149
Other Assets, Noncurrent	84,209	90,522
Developed Technology and Application Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	27,044	24,840
Intangible Assets, Net (Excluding Goodwill)	19,231	21,435
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	17,880	15,812
Intangible Assets, Net (Excluding Goodwill)	$ 20,932	23,000
Customer Relationships [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Useful Life	7 years
Customer Relationships [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Useful Life	20 years
Trade Names and License Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	$ 9,972	8,944
Intangible Assets, Net (Excluding Goodwill)	7,689	8,717
Noncompete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Accumulated Amortization	1,230	1,112
Intangible Assets, Net (Excluding Goodwill)	$ 103	$ 221
Noncompete Agreements [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Useful Life	3 years
Noncompete Agreements [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Useful Life	10 years
Developed Technology Rights [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Useful Life	5 years
Developed Technology Rights [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Useful Life	15 years
Trade Names [Member] | Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Useful Life	5 years
Trade Names [Member] | Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Useful Life	20 years

XML

Other Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Other Liabilities, Current [Abstract]
Payroll related	$ 11,352	$ 9,513
Freight and rebates	2,707	5,779
Benefits and pensions	4,905	5,764
Accrual for Taxes Other than Income Taxes, Current	3,827	4,606
Accrued Income Taxes	11,851	23,609
Equity repurchases	5,861	9,335
Other	5,836	4,598
Other Liabilities, Current	$ 46,339	$ 63,204

XML

Debt and Interest (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016 USD ($) Rate	Sep. 30, 2015 USD ($)	Sep. 30, 2016 USD ($) Rate	Sep. 30, 2015 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2012 USD ($) Rate	Dec. 21, 2012 USD ($)
Debt Instrument [Line Items]
Interest expense	$ 1,796	$ 1,767	$ 5,297	$ 4,099
Accumulated Amortization, Debt Issuance Costs	3,297		3,297		$ 2,793
Term loan due 2017	85,000		85,000		88,000
Revolver borrowings under the credit facility	115,000		115,000		125,000
Debt Issuance Costs, Net	(830)		(830)		(1,335)
Capital Lease Obligations	0		0		2
Debt and Capital Lease Obligations	199,170		199,170		211,667
Long-term Debt and Capital Lease Obligations, Current	4,000		4,000		4,002
Long-term Debt and Capital Lease Obligations	195,170		$ 195,170		$ 207,665
Line of Credit Facility, Current Borrowing Capacity							$ 225,000
Repayments of Debt, Percent of Original Loan Balance							1.00%
Document Period End Date			Sep. 30, 2016
Line of Credit Facility, Remaining Borrowing Capacity	$ 109,000		$ 109,000
Debt, Weighted Average Interest Rate | Rate	2.80%		2.80%
Amortization of Debt Issuance Costs	$ 168	160	$ 505	445
Notional Amount of Interest Rate Derivatives						$ 100,000
Debt Instrument, Interest Rate, Stated Percentage | Rate						0.9475%
Interest Rate Derivative Assets, at Fair Value	300		300
Long-term Debt, Percentage Bearing Variable Interest, Amount	100,000		100,000
Interest Paid			5,298	4,089
Interest Expense [Abstract]
Deferred financing cost	168	160	505	445
Interest income	(14)	(21)	(38)	(58)
Less: amount capitalized for capital projects	(35)	(37)	(137)	(63)
Total interest expense, net	1,915	$ 1,869	5,627	$ 4,423
Letter of Credit, Sub-Facility [Member]
Debt Instrument [Line Items]
Revolver borrowings under the credit facility	1,000		1,000
Line of Credit Facility, Current Borrowing Capacity							$ 20,000
Term Loan [Member]
Debt Instrument [Line Items]
Term loan due 2017	$ 85,000		85,000				$ 100,000
Variable Rate [Domain]
Debt Instrument [Line Items]
Effect on Future Earnings, Amount			$ 1,000
High Range Ratio [Member]
Interest Expense [Abstract]
Debt Instrument, Covenant, Total Leverage Ratio							3.00
Debt Instrument, Covenant, Fixed Charge Coverage Ratio							1.25
Low Range Ratio [Member]
Interest Expense [Abstract]
Debt Instrument, Covenant, Total Leverage Ratio							1.00
Debt Instrument, Covenant, Fixed Charge Coverage Ratio							1.00

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Other Long-Term Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Liabilities, Other than Long-term Debt, Noncurrent [Abstract]
Deferred income taxes	$ 1,408	$ 2,135
Pension and post retirement liabilities	9,509	9,612
Restructuring Reserve, Noncurrent	2,184	4,054
Liability for Uncertain Tax Positions, Noncurrent	1,654	2,416
Environmental liabilities	1,100	1,100
Other liabilities	3,556	3,872
Other Liabilities, Noncurrent	$ 19,411	$ 23,189

XML

Income Taxes - Narratives (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016	Sep. 30, 2015
Income Tax Examination [Line Items]
Effective Income Tax Rate, Continuing Operations		32.00%	32.00%
Effective Income Tax Rate Reconciliation, Tax Contingencies		1.00%
Effective Income Tax Rate Reconciliation, Prior Year Income Taxes, Percent		1.00%
Decrease in Unrecognized Tax Benefits is Reasonably Possible	$ 1.2	$ 1.2
Income Tax Examination, Likelihood of Unfavorable Settlement	P12M
Income Taxes Paid, Net		34.8	$ 10.1
CANADA
Income Tax Examination [Line Items]
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority	$ 4.0	$ 4.0

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Commitments and Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2013	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies	$ 1,100		$ 1,100		$ 1,100
Document Period End Date			Sep. 30, 2016
Environmental [Member]
Loss Contingencies [Line Items]
Accrual for Environmental Loss Contingencies	1,100		$ 1,100
Civil Penalty [Domain]
Loss Contingencies [Line Items]
Estimated Litigation Liability	1,400		$ 1,400	$ 900
Louisiana sales and use tax [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value		$ 1,200
Minimum [Member] | Environmental [Member]
Loss Contingencies [Line Items]
Environmental Exit Costs, Anticipated Cost	900
Maximum [Member] | Environmental [Member]
Loss Contingencies [Line Items]
Environmental Exit Costs, Anticipated Cost	$ 1,300

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Pension Plans and Postretirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
CANADA
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost	$ 104	$ 96	$ 308	$ 298
Defined Benefit Plan, Interest Cost	138	137	407	427
Defined Benefit Plan, Expected Return on Plan Assets	(195)	(188)	(577)	(588)
Defined Benefit Plan, Amortization of Gains (Losses)	53	38	156	120
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	26	26	79	83
Defined Benefit Plan, Other Costs	6	6	17	18
Defined Benefit Plan, Foreign Currency Exchange Rate Changes, Plan Assets	20	325	(203)	598
Defined Benefit Plan, Net Periodic Benefit Cost	152	440	187	956
UNITED STATES
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost	46	80	138	239
Defined Benefit Plan, Interest Cost	74	71	222	212
Defined Benefit Plan, Expected Return on Plan Assets	(37)	(35)	(109)	(104)
Defined Benefit Plan, Amortization of Gains (Losses)	(11)	11	(33)	32
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0	0	0	0
Defined Benefit Plan, Net Periodic Benefit Cost	72	127	218	379
Defined Contribution Plan, Employer Discretionary Contribution Amount			3,500
Pension Benefits [Member] | CANADA
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost	92	84	272	262
Defined Benefit Plan, Interest Cost	125	124	368	386
Defined Benefit Plan, Expected Return on Plan Assets	(195)	(188)	(577)	(588)
Defined Benefit Plan, Amortization of Gains (Losses)	53	38	156	120
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	26	26	79	83
Defined Benefit Plan, Other Costs	0	0	0	0
Defined Benefit Plan, Foreign Currency Exchange Rate Changes, Plan Assets	29	429	(271)	780
Defined Benefit Plan, Net Periodic Benefit Cost	130	513	27	1,043
Pension Benefits [Member] | UNITED STATES
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost	0	0	0	0
Defined Benefit Plan, Interest Cost	30	29	89	86
Defined Benefit Plan, Expected Return on Plan Assets	(37)	(35)	(109)	(104)
Defined Benefit Plan, Amortization of Gains (Losses)	2	17	6	49
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0	0	0	0
Defined Benefit Plan, Net Periodic Benefit Cost	(5)	11	(14)	31
Other Benefits [Member] | CANADA
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost	12	12	36	36
Defined Benefit Plan, Interest Cost	13	13	39	41
Defined Benefit Plan, Expected Return on Plan Assets	0	0	0	0
Defined Benefit Plan, Amortization of Gains (Losses)	0	0	0	0
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0	0	0	0
Defined Benefit Plan, Other Costs	6	6	17	18
Defined Benefit Plan, Foreign Currency Exchange Rate Changes, Plan Assets	(9)	(104)	68	(182)
Defined Benefit Plan, Net Periodic Benefit Cost	22	(73)	160	(87)
Other Benefits [Member] | UNITED STATES
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost	46	80	138	239
Defined Benefit Plan, Interest Cost	44	42	133	126
Defined Benefit Plan, Expected Return on Plan Assets	0	0	0	0
Defined Benefit Plan, Amortization of Gains (Losses)	(13)	(6)	(39)	(17)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0	0	0	0
Defined Benefit Plan, Net Periodic Benefit Cost	$ 77	$ 116	$ 232	$ 348

XML

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (3,040)	$ (2,927)	$ (3,040)	$ (2,927)	$ (2,794)	$ (3,322)	$ (2,902)	$ (2,813)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	282	(25)	(246)	(114)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0	0	0
Other comprehensive income (loss), net of Tax	282	(25)	(246)	(114)	19
AOCI Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), net of Tax			(246)		19
Pension and Other Postretirement Plans Costs [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(2,854)	(2,580)	(2,854)	(2,580)	(2,842)	(2,932)	(2,863)	(3,175)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	78	283	(12)	595
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0	0	0
Other comprehensive income (loss), net of Tax	78	283	(12)	595
Interest Rate Swap [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(186)	(347)	(186)	(347)	$ 48	$ (390)	$ (39)	$ 362
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	204	(308)	(234)	(709)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0	0	0
Other comprehensive income (loss), net of Tax	$ 204	$ (308)	$ (234)	$ (709)

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Restructuring Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016	Dec. 31, 2015
Restructuring Cost and Reserve [Line Items]
Severance Costs	$ 1,239		$ 1,720
Share-based Compensation	1,028	$ 658	2,329	$ 2,243
Payments for Restructuring	(2,148)		(6,152)
Restructuring Reserve	8,046		8,046		$ 8,955	$ 13,389
Restructuring Reserve, Current	5,861		5,861			$ 9,335
Selling, General and Administrative Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	1,508		1,844
Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0		145
Management [Member]
Restructuring Cost and Reserve [Line Items]
Share-based Compensation	0		$ (911)
Share-based Compensation	$ 269

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Segment Reporting (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

12 Months Ended

Sep. 30, 2016

Sep. 30, 2015

Sep. 30, 2016

Sep. 30, 2015

Dec. 31, 2015

Segment Reporting Information [Line Items]

Net income

$ 13,643

$ 5,433

$ 38,589

$ 30,979

$ 26,346

Schedule of Segment Reporting Information, by Segment [Table Text Block]

For the three months ended September 30, 2016	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	127,796	$	41,326	$	16,915		$	—		$	186,037
Intersegment sales	1,526		13,693		—			(15,219		)	—
Total sales	$	129,322	$	55,019	$	16,915		$	(15,219	)	$	186,037
EBITDA (a)	$	15,300	$	16,145	$	383		$	—		$	31,828
Depreciation and amortization expense	$	7,218	$	1,576	$	1,249		$	—		$	10,043
For the three months ended September 30, 2015	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	145,617	$	40,304	$	13,691		$	—		$	199,612
Intersegment sales	1,743		15,117		26			(16,886		)	—
Total sales	$	147,360	$	55,421	$	13,717		$	(16,886	)	$	199,612
EBITDA (b)	$	21,015	$	5,068	$	(7,104	)	$	—		$	18,979
Depreciation and amortization expense	$	6,622	$	1,637	$	789		$	—		$	9,048
For the nine months ended September 30, 2016	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	395,069	$	122,188	$	40,298		$	—		$	557,555
Intersegment sales	8,705		39,674		132			(48,511		)	—
Total sales	$	403,774	$	161,862	$	40,430		$	(48,511	)	$	557,555
EBITDA (a)	$	54,338	$	38,562	$	(1,942	)	$	—		$	90,958
Depreciation and amortization expense	$	19,902	$	5,600	$	3,105		$	—		$	28,607
For the nine months ended September 30, 2015	Specialty Phosphates US & Canada		Specialty Phosphates Mexico		GTSP & Other			Eliminations			Total
Sales	$	441,116	$	126,410	$	50,989		$	—		$	618,515
Intersegment sales	7,704		43,335		171			(51,210		)	—
Total sales	$	448,820	$	169,745	$	51,160		$	(51,210	)	$	618,515
EBITDA (b)	$	63,449	$	22,216	$	(5,859	)	$	—		$	79,806
Depreciation and amortization expense	$	20,348	$	6,930	$	2,403		$	—		$	29,681

(a) The three and nine months ended September 30, 2016 include a $1.5 million charge to earnings for restructuring costs, recorded in GTSP & Other.

(b) The three and nine months ended September 30, 2015 include an $8.6 million charge to earnings for restructuring costs, recorded in GTSP & Other.

Sales

186,037

199,612

$ 557,555

618,515

Revenue from Related Parties

0

0

0

0

Total sales

186,037

199,612

557,555

618,515

Earnings before interest, taxes, depreciation and amortization

31,828

18,979

90,958

79,806

Depreciation and amortization expense

10,043

9,048

28,607

29,681

Provision for income taxes

6,227

2,629

18,135

14,723

Interest expense, net

1,915

1,869

5,627

4,423

Specialty Phosphates US & Canada [Member]

Segment Reporting Information [Line Items]

Sales

127,796

145,617

395,069

441,116

Revenue from Related Parties

1,526

1,743

8,705

7,704

Total sales

129,322

147,360

403,774

448,820

Earnings before interest, taxes, depreciation and amortization

15,300

21,015

54,338

63,449

Depreciation and amortization expense

7,218

6,622

19,902

20,348

Specialty Phosphates Mexico [Member]

Segment Reporting Information [Line Items]

Sales

41,326

40,304

122,188

126,410

Revenue from Related Parties

13,693

15,117

39,674

43,335

Total sales

55,019

55,421

161,862

169,745

Earnings before interest, taxes, depreciation and amortization

16,145

5,068

38,562

22,216

Depreciation and amortization expense

1,576

1,637

5,600

6,930

GTSP & Other [Member]

Segment Reporting Information [Line Items]

Sales

16,915

13,691

40,298

50,989

Revenue from Related Parties

0

26

132

171

Total sales

16,915

13,717

40,430

51,160

Earnings before interest, taxes, depreciation and amortization

383

(7,104)

(1,942)

(5,859)

Depreciation and amortization expense

1,249

789

3,105

2,403

Intersegment Eliminations [Member]

Segment Reporting Information [Line Items]

Sales

0

0

0

0

Revenue from Related Parties

(15,219)

(16,886)

(48,511)

(51,210)

Total sales

(15,219)

(16,886)

(48,511)

(51,210)

Earnings before interest, taxes, depreciation and amortization

0

0

0

0

Depreciation and amortization expense

$ 0

$ 0

$ 0

$ 0