Business Segments

12 Months Ended

Dec. 31, 2014

Segment Disclosures [Abstract]

Segment Reporting Disclosure [Text Block]

Note 4 – Business Segments

The Company's reportable operating segments are organized by geography as follows: (i) North America, (ii) EMEA, (iii) Asia/Pacific and (iv) South America. Operating earnings, excluding indirect operating expenses, for the Company's reportable operating segments are comprised of revenues less costs of goods sold and SG&A directly related to the respective regions' product sales. The indirect operating expenses consist of SG&A related expenses that are not directly attributable to the product sales of each respective reportable operating 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, 2014, December 31, 2013 and December 31, 2012:

		2014		2013		2012
Net sales
	North America	$	334,400	$	308,353	$	310,127
	EMEA		195,309		187,794		174,799
	Asia/Pacific		185,974		169,505		157,062
	South America		50,177		63,743		66,238
	Total net sales	$	765,860	$	729,395	$	708,226

		2014		2013		2012
Operating earnings, excluding indirect operating expenses
	North America	$	68,296	$	61,307	$	58,571
	EMEA		32,589		29,643		24,640
	Asia/Pacific		43,847		42,373		37,030
	South America		4,292		9,177		6,730
	Total operating earnings, excluding indirect operating expenses		149,024		142,500		126,971
	Non-operating charges		(67,110)		(67,145)		(59,983)
	Depreciation of corporate assets and amortization		(4,558)		(4,112)		(3,764)
	Consolidated operating income		77,356		71,243		63,224
	Other income, net		767		3,519		3,415
	Interest expense		(2,371)		(2,922)		(4,283)
	Interest income		2,541		986		592
	Consolidated income before taxes and equity in net income
	of associated companies	$	78,293	$	72,826	$	62,948

The following tables present information regarding the Company's reportable segments' assets as ofDecember 31,2014, December 31,2013 and December 31,2012:

		2014		2013		2012
Segment assets
	North America	$	340,385	$	298,305	$	279,253
	EMEA		124,273		103,414		101,532
	Asia/Pacific		170,580		144,682		116,853
	South America		30,288		37,745		38,996
	Total segment assets	$	665,526	$	584,146	$	536,634

During 2014, the Company revised its December 31, 2013 and December 31, 2012 segment asset detail, increasing / (decreasing) its previously published amounts in North America by ($5,764) and ($5,109), in EMEA by ($1,360) and ($627), in Asia/Pacific by $14,788 and $15,093 and in South America by ($7,664) and ($9,357), respectively. The Company considers such revisions to be immaterial.

		2014		2013		2012
Segment long-lived assets
	North America	$	92,319	$	91,464	$	91,121
	EMEA		20,634		20,863		20,056
	Asia/Pacific		24,392		24,695		19,720
	South America		3,911		4,130		5,276
	Total segment long-lived assets	$	141,256	$	141,152	$	136,173

The following tables present information regarding the Company's reportable segments' capital expenditures and depreciationas ofDecember 31,2014, December 31,2013 and December 31,2012:

		2014		2013		2012
Capital expenditures
	North America	$	3,658	$	2,793	$	3,262
	EMEA		4,811		1,391		3,332
	Asia/Pacific		3,202		6,386		5,451
	South America		1,381		869		690
	Total segment capital expenditures	$	13,052	$	11,439	$	12,735

		2014		2013		2012
Depreciation
	North America	$	5,231	$	5,236	$	5,635
	EMEA		3,069		3,145		2,906
	Asia/Pacific		2,713		2,080		1,720
	South America		1,060		1,211		1,333
	Total segment depreciation	$	12,073	$	11,672	$	11,594

The following table presents information regarding the Company's product lines that represent more than 10% of consolidated revenues for December 31, 2014, December 31, 2013 and December 31, 2012, with the remaining product sales being impractical to present:

	2014		2013		2012
Rolling lubricants	20.1	%	20.7	%	20.7	%
Machining and grinding compounds	16.3	%	17.7	%	17.6	%
Hydraulic fluids	13.0	%	12.9	%	13.5	%
Corrosion preventives	12.5	%	12.5	%	12.4	%

During the years ended December 31,2014, December 31, 2013 and December 31, 2012, the North American segment had approximately $35,532, $29,002 and $27,125 of net sales, respectively,which were attributable to non-domestic operations. At December 31, 2014, December 31, 2013 and December 31, 2012, the North American segment had approximately $3,145, $3,649 and $3,716 of long-lived assets, respectively,which were attributable to non-domestic operations.

Inter-segment revenue for the years ended December 31,2014, December 31, 2013 and December 31, 2012 was $8,001, $8,984 and $10,026 for North America, $22,321, $20,135 and $15,414 for EMEA, $414, $504 and $321 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.