Business Segments

9 Months Ended

Sep. 30, 2012

Segment Reporting Measurement Disclosures [Abstract]

Segment Reporting Disclosure [Text Block]

Note 8 – Business Segments

The Company organizes its segments by the nature of the products sold. The Company's reportable segments are as follows:

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

• Coatings—generally includes 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				Nine Months Ended
		September 30,				September 30,
		2012		2011		2012		2011
Metalworking Process Chemicals
	Net sales	$	168,732	$	171,222	$	499,718	$	478,727
	Operating income for reportable segments		26,772		30,443		88,396		83,527
Coatings
	Net sales		11,222		10,378		32,695		29,347
	Operating income for reportable segments		3,016		2,452		8,328		6,861
Other Chemical Products
	Net sales		969		713		2,945		1,896
	Operating income for reportable segments		78		32		273		71
Total
	Net sales		180,923		182,313		535,358		509,970
	Operating income for reportable segments		29,866		32,927		96,997		90,459
Non-operating expenses			(13,185)		(14,800)		(45,166)		(42,318)
Amortization			(818)		(623)		(2,283)		(1,596)
Consolidated operating income			15,863		17,504		49,548		46,545
Interest expense			(1,034)		(1,166)		(3,359)		(3,584)
Interest income			149		262		409		805
Other income, net			322		2,740		529		4,070
Consolidated income before taxes and equity in net income of associated companies		$	15,300	$	19,340	$	47,127	$	47,836

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.