Business Segments

9 Months Ended

Sep. 30, 2011

Segment Reporting Measurement Disclosures [Abstract]

Segment Reporting Disclosure [Text Block]

Note 8 – Business Segments

The Company organizes its segments by type of product sold. The Company's reportable segments are as follows:

(1) Metalworking process chemicals – industrial process fluids for various heavy industrial and manufacturing applications.

(2) Coatings – temporary and permanent coatings for metal and concrete products and chemical milling maskants.

(3) Other chemical products – other various chemical products.

Segment data includes direct segment costs as well as general operating costs.

The table below presents information about the reported segments:
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2011		2010		2011		2010
Metalworking Process Chemicals
	Net sales	$	171,222	$	128,764	$	478,727	$	376,931
	Operating income for reportable segments		30,443		25,290		83,527		75,926
Coatings
	Net sales		10,378		8,424		29,347		23,698
	Operating income for reportable segments		2,452		1,980		6,861		5,306
Other Chemical Products
	Net sales		713		481		1,896		1,351
	Operating income (loss) for reportable segments		32		(6)		71		(40)
Total
	Net sales		182,313		137,669		509,970		401,980
	Operating income for reportable segments		32,927		27,264		90,459		81,192
Non-operating expenses			(14,800)		(12,661)		(42,318)		(39,043)
Non-income tax related contingency charge			0		(3,581)		0		(3,581)
CEO transition costs			0		(1,317)		0		(1,317)
Amortization			(623)		(274)		(1,596)		(736)
Interest expense			(1,166)		(1,345)		(3,584)		(4,042)
Interest income			262		313		805		840
Other income (loss), net			2,740		(320)		4,070		1,566
Consolidated income before taxes and equity in net income of associated companies		$	19,340	$	8,079	$	47,836	$	34,879

Operating income is comprisedof revenue less related costs and expenses. Non-operating items primarily consist of general corporate expenses identified as not being a cost of operation, interest expense, interest income, and license fees from non-consolidated affiliates.