Business Segments

6 Months Ended

Jun. 30, 2012

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:

• 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. Any inter-segment transactions are immaterial for each period presented.

The table below presents information about the Company's reported segments:

		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2012		2011		2012		2011
Metalworking Process Chemicals
	Net sales	$	165,011	$	156,772	$	330,986	$	307,505
	Operating income for reportable segments		30,649		26,149		61,624		53,084
Coatings
	Net sales		10,950		10,487		21,473		18,969
	Operating income for reportable segments		2,799		2,446		5,312		4,409
Other Chemical Products
	Net sales		836		533		1,976		1,183
	Operating income for reportable segments		53		4		195		39
Total
	Net sales		176,797		167,792		354,435		327,657
	Operating income for reportable segments		33,501		28,599		67,131		57,532
Non-operating expenses			(15,799)		(13,171)		(31,981)		(27,518)
Amortization			(719)		(487)		(1,465)		(973)
Consolidated operating income			16,983		14,941		33,685		29,041
Interest expense			(1,151)		(1,200)		(2,325)		(2,418)
Interest income			137		271		260		543
Other (expense) income, net			(134)		791		207		1,330
Consolidated income before taxes and equity in net income of associated companies		$	15,835	$	14,803	$	31,827	$	28,496

Operating income comprises 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.