Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 2019

Revenue From Contract With Customer [Abstract]

Revenue from Contracts with Customers

14. REVENUE FROM CONTRACTS WITH CUSTOMERS

In the majority of instances the Company deems a contract with a customer to exist when a purchase order is received from a customer for a specified quantity of product or products and the Company acknowledges receipt of such purchase order. In some instances the Company has entered into manufacturing supply agreements with customers but these agreements typically do not bind a customer to any purchase volume requirements and thus an obligation is not created until the customer submits a purchase order to the Company.  The Company’s contracts typically have a single performance obligation that is satisfied at the time a product is shipped and control passes to the customer.  For a small portion of the business, performance obligations are deemed satisfied when product is delivered to a customer location.

As of March 31, 2019, the Company did not have any contract assets or contract liabilities. A contract liability would typically arise when an advance or deposit is received from a customer before the Company recognizes revenue. In practice, this is extremely rare as it would require a customer to make a payment prior to a performance obligation being satisfied. If such a situation did arise the Company would maintain a deferred revenue liability until the time a performance obligation has been satisfied. The Company did not recognize any revenue in the current period from any pre-existing contract liability balance.

The tables below provides a geographic disaggregation of net sales for the three months ended March 31, 2019 and 2018. The Company’s business segmentation by geographic region most effectively captures the nature and economic characteristics of the Company’s revenue streams impacted by economic factors.

	For the Three Months Ended March 31, 2019
(In thousands)
	Surfactants		Polymers		Specialty		Total
Geographic Market
North America	$	214,297	$	71,323	$	16,025	$	301,645
Europe		71,478		42,105		3,316		116,899
Latin America		50,812		197		—		51,009
Asia		13,063		6,554		—		19,617
Total	$	349,650	$	120,179	$	19,341	$	489,170

	For the Three Months Ended March 31, 2018
(In thousands)
	Surfactants		Polymers		Specialty		Total
Geographic Market
North America	$	220,405	$	73,474	$	14,814	$	308,693
Europe		78,371		41,784		3,648		123,803
Latin America		41,688		827		—		42,515
Asia		18,476		5,848		—		24,324
Total	$	358,940	$	121,933	$	18,462	$	499,335