Business Segments

12 Months Ended

Dec. 31, 2013

Segment Disclosures [Abstract]

Segment Reporting Disclosure [Text Block]

Note 3 – Business Segments

The Company's reportable operating segments evidence the structure of the Company's internal organization, the method by which the Company's resources are allocated and the manner by which the Company assesses its performance. During 2013, certain internal shifts in the Company's management and changes to the structure of internally reported information occurred. The Company currently believes its structure, its resource allocation and its performance assessment are now more closely aligned with its four geographical regions: North America, EMEA, Asia/Pacific and South America. Therefore, the Company changed its reportable operating segments from those categorized by product nature to those organized by geography. All prior period information has been recast to reflect these four regions as the Company's new reportable operating segments.

Though the Company changed its reportable operating segments in the third quarter of 2013, the calculation of the reportable segment's measure of earnings remains relatively consistent with past practices. Operating earnings, excluding indirect operating expenses, for the Company's reportable segments are comprised of revenues less costs of goods sold and SG&A directly related to the respective regions' product sales. The Company's indirect operating expenses consist of SG&A related expenses that are not directly attributable to the product sales of each respective reporting segment. Other items not specifically identified with the Company's reportable operating segments include interest expense, interest income, license fees from non-consolidated affiliates and other income (expense).

The following tables present information about the performance of the Company's reportable operating segments for the years ended December 31, 2013, December 31, 2012 and December 31, 2011:

		2013		2012		2011
Net sales
	North America	$	308,353	$	310,127	$	268,519
	EMEA		187,794		174,799		184,063
	Asia/Pacific		169,505		157,062		151,468
	South America		63,743		66,238		79,181
	Total net sales	$	729,395	$	708,226	$	683,231
		2013		2012		2011
Operating earnings, excluding indirect operating expenses
	North America	$	61,307	$	58,571	$	48,342
	EMEA		29,643		24,640		27,376
	Asia/Pacific		42,373		37,030		32,145
	South America		9,177		6,730		11,642
	Total operating earnings, excluding indirect operating expenses		142,500		126,971		119,505
	Non-operating charges		(67,145)		(59,983)		(58,689)
	Depreciation of corporate assets and amortization		(4,112)		(3,764)		(2,904)
	Consolidated operating income		71,243		63,224		57,912
	Other income, net		3,519		3,415		5,050
	Interest expense		(2,922)		(4,283)		(4,666)
	Interest income		986		592		1,081
	Consolidated income before taxes and equity in net income of associated companies	$	72,826	$	62,948	$	59,377

The following tables present information regarding the Company's reportable segments' assets as ofDecember 31,2013, December 31,2012 and December 31,2011:

		2013		2012		2011
Segment assets
	North America	$	304,069	$	284,362	$	289,761
	EMEA		104,774		102,159		88,494
	Asia/Pacific		129,894		101,760		81,086
	South America		45,409		48,353		51,811
	Total segment assets	$	584,146	$	536,634	$	511,152

		2013		2012		2011
Segment long-lived assets
	North America	$	91,464	$	91,121	$	90,800
	EMEA		20,863		20,056		19,243
	Asia/Pacific		24,695		19,720		15,225
	South America		4,130		5,276		6,577
	Total segment long-lived assets	$	141,152	$	136,173	$	131,845

The following tables present information regarding the Company's reportable segments' capital expenditures and depreciationas ofDecember 31,2013, December 31,2012 and December 31,2011:

		2013		2012		2011
Capital expenditures
	North America	$	2,793	$	3,262	$	5,185
	EMEA		1,391		3,332		2,442
	Asia/Pacific		6,386		5,451		2,614
	South America		869		690		1,876
	Total segment capital expenditures	$	11,439	$	12,735	$	12,117
		2013		2012		2011
Depreciation
	North America	$	5,236	$	5,635	$	4,739
	EMEA		3,145		2,906		2,922
	Asia/Pacific		2,080		1,720		1,774
	South America		1,211		1,333		1,454
	Total segment depreciation	$	11,672	$	11,594	$	10,889

The following table presents information regarding the Company's product lines that represent more than 10% of consolidated revenues for December 31, 2013, December 31, 2012 and December 31, 2011, with the remaining product sales impractical to present:

	2013		2012		2011
Rolling Lubricants	20.7	%	20.7	%	22.0	%
Machining and grinding compounds	17.7	%	17.6	%	18.8	%
Hydraulic fluids	12.9	%	13.5	%	12.9	%
Corrosion preventives	12.5	%	12.4	%	11.5	%

At December 31,2013, December 31,2012 and December 31,2011, the North American segment had approximately $29,002, $27,125 and $12,818 of net sales and $3,649, $3,716 and $3,576 of long-lived assets, respectively,which were attributable to non-domestic operations.

Inter-segment revenue for the years ended December 31,2013, December 31, 2012 and December 31, 2011 was $8,984, $10,026 and $13,728 for North America, $20,135, $15,414 and $17,246 for EMEA, $504, $321 and $399 for Asia/Pacific, and zero in all periods for South America, respectively. However, all inter-segment transactions have been eliminated from each reportable operating segment's net sales and earnings for all periods presented in the above tables.