Segment and Related Information

12 Months Ended

Dec. 31, 2015

Segment and Related Information [Abstract]

Segment and Related Information

Note 22. Segment and Related Information

The Company determines its operating segments based on the discrete financial information that is regularly evaluated by its chief operating decision maker, our President and Chief Executive Officer, in deciding how to allocate resources and in assessing performance. The Company's operating segments are strategic business units that offer different products and serve different markets. They are managed separately and require different technology and marketing strategies.

The Company has 5 reportable segments: Specialty Minerals, Refractories, Performance Materials, Construction Technologies, and Energy Services as compared to 2 reportable segments in 2013 (Specialty Minerals and Refractories).

- The Specialty Minerals segment produces and sells the synthetic mineral product precipitated calcium carbonate ("PCC") and processed mineral product quicklime ("lime"), and mines mineral ores then processes and sells natural mineral products, primarily limestone and talc.

- The Refractories segment produces and markets monolithic and shaped refractory materials and specialty products, services and application and measurement equipment, and calcium metal and metallurgical wire products.

- The Performance Materials segment is a leading supplier of bentonite and bentonite-related products. This segment also supplies chromite and leonardite and operates more than 25 mining or production facilities worldwide.

- The Construction Technologies segment provides products for non-residential construction, environmental and infrastructure projects worldwide.  It serves customers engaged in a broad range of construction projects, including site remediation, concrete waterproofing for underground structures, liquid containment on projects ranging from landfills to flood control, and drilling applications including foundation, slurry wall, tunneling, water well, and horizontal drilling.

- The Energy Services segment provides services to improve the production, costs, compliance, and environmental impact of activities performed in oil and gas industry.  This segment offers a range of patented and unpatented technologies, products and services for all phases of oil and gas production, refining, and storage throughout the world.

The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The Company evaluates performance based on the operating income of the respective business units. The costs deducted to arrive at operating profit do not include several items, such as net interest or income tax expense. Depreciation expense related to corporate assets is allocated to the business segments and is included in their income from operations. However, such corporate depreciable assets are not included in the segment assets. Intersegment sales and transfers are not significant.

Segment information for the years ended December 31, 2015, 2014 and 2013 was as follows:

	2015			2014			2013
	(millions of dollars)
Net Sales
Specialty Minerals	$	624.6		$	650.1		$	669.8
Refractories		295.9			359.7			348.4
Performance Materials		514.8			352.8			-
Construction Technologies		180.1			152.3			-
Energy Services		182.2			210.1			-
Total		1,797.6			1,725.0			1,018.2
Income from Operations
Specialty Minerals		100.8			95.8			98.4
Refractories		27.8			43.2			35.9
Performance Materials		95.9			41.0			-
Construction Technologies		22.5			(0.8	)		-
Energy Services		(27.9	)		16.3			-
Total		219.1			195.5			134.3
Depreciation, Depletion and Amortization
Specialty Minerals		34.0			35.6			38.6
Refractories		7.5			10.8			8.7
Performance Materials		31.7			18.7			-
Construction Technologies		7.7			5.8			-
Energy Services		17.4			13.5			-
Total		98.3			84.4			47.3
Segment Assets
Specialty Minerals		505.3			494.4			605.6
Refractories		292.7			357.3			378.1
Performance Materials		1,626.0			1,584.4			-
Construction Technologies		339.4			447.7			-
Energy Services		154.7			228.9			-
Total		2,918.1			3,112.7			983.7
Capital Expenditures
Specialty Minerals		51.9			44.4			33.6
Refractories		11.1			11.7			8.3
Performance Materials		9.8			7.3			-
Construction Technologies		1.3			1.0			-
Energy Services		11.1			16.7			-
Total		85.2			81.1			41.9

A reconciliation of the totals reported for the operating segments to the applicable line items in the consolidated financial statements is as follows:

	2015			2014			2013
	(millions of dollars)
Income from Operations before Provision for Taxes on Income
Income from operations for reportable segments	$	219.1		$	195.5		$	134.3
Acquisition related transaction and integration costs		(11.8	)		(19.1	)		-
Unallocated corporate expenses		(7.0	)		(7.6	)		(7.4	)
Consolidated income from operations		200.3			168.8			126.9
Non-operating deductions, net		(67.7	)		(45.8	)		(3.2	)
Income from continuing operations before provision for taxes on income		132.6			123.0			123.7
Total Assets
Total segment assets		2,918.1			3,112.7			983.7
Corporate assets		61.9			44.8			233.8
Consolidated total assets		2,980.0			3,157.5			1,217.5
Capital Expenditures
Total segment capital expenditures		85.2			81.1			41.9
Corporate capital expenditures		0.8			0.7			1.9
Consolidated capital expenditures		86.0			81.8			43.8

Financial information relating to the Company's operations by geographic area was as follows:

	2015		2014		2013
	(millions of dollars)
Net Sales
United States	$	1,049.6	$	1,004.4	$	563.5
Canada/Latin America		86.3		90.2		70.3
Europe/Africa		382.1		407.7		269.2
Asia		279.6		222.7		115.2
Total International		748.0		720.6		454.7
Consolidated net sales		1,797.6		1,725.0		1,018.2
Long-Lived Assets
United States	$	1,829.3	$	1,865.2	$	235.2
Canada/Latin America		13.0		18.8		12.1
Europe/Africa		117.6		136.8		64.9
Asia		138.3		144.3		60.5
Total International		268.9		299.9		137.5
Consolidated long-lived assets		2,098.2		2,165.1		372.7

Net sales and long-lived assets are attributed to countries and geographic areas based on the location of the legal entity. No individual foreign country represents more than 10% of consolidated net sales or consolidated long-lived assets.

The Company's sales by product category are as follows:

	2015		2014		2013
	(millions of dollars)
Paper PCC	$	423.3	$	454.5	$	480.0
Specialty PCC		64.8		66.1		67.2
Talc		55.9		55.5		50.9
Ground Calcium Carbonate		80.6		74.0		71.7
Refractory Products		230.7		273.9		264.0
Metallurgical Products		65.2		85.8		84.4
Metalcasting		266.4		181.4		-
Household, Personal Care and Specialty Products		172.7		108.0		-
Basic Minerals and Other Products		75.7		63.4		-
Environmental Products		69.7		70.7		-
Building Materials and Other Products		110.4		81.6		-
Energy Services		182.2		210.1		-
Total		1,797.6		1,725.0		1,018.2