Business Segments

12 Months Ended

Dec. 31, 2011

Segment Reporting Measurement Disclosures [Abstract]

Segment Reporting Disclosure [Text Block]

Note 17—Business Segments

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

• Metalworking process chemicals—industrial process fluids for various heavy industrial and manufacturing applications.

• Coatings—temporary and permanent coatings for metal and concrete products and chemical milling maskants.

• Other chemical products—other various chemical products.

Segment data includes direct segment costs, as well as general operating costs, which includes depreciation that is allocated to each segment based on net sales. Any inter-segment transactions are immaterial for each period.

The following table presents information about the reported segments for the years ended December 31, 2011, December 31, 2010 and December 31, 2009:

		Metalworking				Other
		Process				Chemical
		Chemicals		Coatings		Products		Total
2011
	Net sales	$	641,325	$	39,182	$	2,724	$	683,231
	Operating income for reportable segments		110,118		9,275		112		119,505
	Depreciation		10,222		624		43		10,889
	Segment assets		483,984		20,644		893		505,521
	Expenditures for long-lived assets		11,706		411		0		12,117
2010
	Net sales	$	511,305	$	30,999	$	1,759	$	544,063
	Operating income (loss) for reportable segments		98,427		7,093		(77)		105,443
	Depreciation		9,150		555		31		9,736
	Segment assets		430,383		18,201		846		449,430
	Expenditures for long-lived assets		8,983		370		1		9,354
2009
	Net sales	$	419,226	$	30,372	$	1,892	$	451,490
	Operating income (loss) for reportable segments		72,440		6,798		(129)		79,109
	Depreciation		8,630		625		39		9,294
	Segment assets		376,745		17,592		955		395,292
	Expenditures for long-lived assets		13,747		58		29		13,834

Operating income is comprised of revenue less related costs and expenses. Nonoperating expenses 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.

A reconciliation of total segment operating income to total consolidated income before taxes and equity in net income of associated companies for the years ended December 31, 2011, December 31,2010 and December 31,2009 is as follows:

			2011		2010		2009
Total operating income for reportable segments		$	119,505	$	105,443	$	79,109
Non-income tax contingency charge			0		(4,132)		0
CEO transition charges			0		(1,317)		(2,443)
Restructuring and related charges			0		0		(2,289)
Non-operating charges			(58,689)		(50,744)		(46,980)
Depreciation of corporate assets and amortization			(2,904)		(1,119)		(1,309)
Consolidated operating income			57,912		48,131		26,088
Interest expense			(4,666)		(5,225)		(5,533)
Interest income			1,081		1,201		728
Other income, net			5,050		2,106		2,409
Consolidated income before taxes and equity in net
	income of associated companies	$	59,377	$	46,213	$	23,692

Net sales are attributed to geographic region based on the location of the originating seller. Net sales and long-lived assets by geographic area as of and for the years ended December 31,2011, December 31,2010 and December 31,2009is as follows:

		2011		2010		2009
Net sales
North America	$	268,519	$	190,623	$	172,035
Europe		178,695		148,426		130,217
Asia/Pacific		151,468		125,189		93,389
South America		79,181		75,169		52,197
South Africa		5,368		4,656		3,652
Consolidated	$	683,231	$	544,063	$	451,490
		2011		2010		2009
Long-lived assets
North America	$	85,169	$	82,383	$	67,523
Europe		19,215		24,793		28,599
Asia/Pacific		15,225		14,099		13,360
South America		6,577		6,998		6,280
South Africa		28		41		25
Consolidated	$	126,214	$	128,314	$	115,787