Reportable Segments (Tables)

9 Months Ended

Sep. 30, 2012

Segment Reporting Information, Profit (Loss) [Abstract]

Results of reportable segments

The following table reflects the results of our reportable segments:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
Net sales
Magnetic Technologies(a)	$	144,410		$	106,572		$	502,925		$	106,572
Advanced Materials	107,657			153,592			364,891			498,878
Specialty Chemicals	103,636			120,622			318,763			369,954
Battery Technologies	39,157			34,678			111,394			101,497
Intersegment items	(128		)	(407		)	(595		)	(977		)
	$	394,732		$	415,057		$	1,297,378		$	1,075,924
Operating profit (loss)
Magnetic Technologies (a)(b)	$	15,969		$	(77,901	)	$	(274	)	$	(77,901	)
Advanced Materials	3,659			20,767			15,693			69,748
Specialty Chemicals (c)(d)	9,077			24,719			33,294			56,311
Battery Technologies	5,926			3,742			17,644			12,567
Corporate (e)	(13,153		)	(16,720		)	(32,606		)	(40,341		)
	21,478			(45,393		)	33,751			20,384
Interest expense	(11,977		)	(8,512		)	(36,017		)	(11,327		)
Accelerated amortization of deferred financing fees	(1,249		)	—			(1,249		)	—
Interest income	192			294			530			981
Foreign exchange gain (loss)	(2,724		)	7,425			(1,884		)	7,264
Other expense, net	1,277			(547		)	629			(876		)
	(14,481		)	(1,340		)	(37,991		)	(3,958		)
Income (loss) from continuing operations before income tax expense	$	6,997		$	(46,733	)	$	(4,240	)	$	16,426
Expenditures for property, plant & equipment
Magnetic Technologies (a)	$	5,618		$	4,348		$	15,613		$	4,348
Advanced Materials	8,970			3,819			22,667			8,984
Specialty Chemicals	2,259			4,100			5,471			9,102
Battery Technologies	1,043			1,693			3,266			3,971
	$	17,890		$	13,960		$	47,017		$	26,405
Depreciation of property, plant and equipment and amortization of intangibles
Magnetic Technologies (a)	$	9,833		$	7,338		$	30,055		$	7,338
Advanced Materials	4,228			5,225			12,723			15,448
Specialty Chemicals	5,296			5,624			15,558			17,044
Battery Technologies	2,526			2,071			7,537			7,059
Corporate	227			105			489			375
	$	22,110		$	20,363		$	66,362		$	47,264

(a) Includes the activity of VAC since the acquisition on August 2, 2011.

(b) Includes $0.2 million and $69.8 million in the three and nine months ended September 30, 2012, respectively, and $93.5 million in the three and nine months ended September 30, 2011, of charges related to the VAC inventory purchase accounting step-up and LCM charges. See further discussion of the charges related to inventory below.

(c) The nine months ended September 30, 2012 includes a $2.9 million property sale gain.

(d) The three and nine months ended September 30, 2011 includes a $9.7 million property sale gain.

(e) Includes a $2.5 million settlement charge associated with the lump-sum cash settlement to certain participants in one of our U.S. defined benefit pension plans in the three and nine months ended September 30, 2012, and $8.8 million and $12.8 million of acquisition-related fees related to VAC in the three and nine months ended September 30, 2011, respectively.

Charges related to Magnetic Technologies inventory

The three and nine months ended September 30, 2012 and 2011 include the following charges related to Magnetic Technologies inventory (amounts in thousands):

		Three Months Ended				Nine Months Ended
		September 30				September 30
		2012		2011		2012		2011
Charges related to the step-up of inventory that was recorded as of the acquisition date:
	LCM charge	$	—	$	62,444	$	31,404	$	62,444
	Step-up amortization	224		31,073		16,093		31,073
		224		93,517		47,497		93,517
Additional LCM charge		—		—		22,347		—
Total VAC inventory purchase accounting step-up and LCM charges		$	224	$	93,517	$	69,844	$	93,517