v3.25.2
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Net Sales by Segment
The table below reports net sales and operating profit by segment, as well as a reconciliation to income before income tax expense, for the second quarter and six months ended June 30, 2025 and June 30, 2024. No single customer accounted for 10% or more of our total net sales in any period presented.
Second Quarter Ended June 30,Six Months Ended June 30,
(in thousands)2025202420252024
Net sales
Petroleum additives
Lubricant additives$556,479 $575,194 $1,115,657 $1,147,109 
Fuel additives97,396 94,632 183,772 199,981 
Total653,875 669,826 1,299,429 1,347,090 
Specialty materials42,037 38,010 95,758 55,057 
All other2,597 2,392 4,268 4,817 
Total net sales $698,509 $710,228 $1,399,455 $1,406,964 
Segment operating profit
Petroleum additives
Net sales$653,875 $669,826 $1,299,429 $1,347,090 
Cost of goods sold(448,474)(461,617)(886,220)(924,536)
Research, development, and testing expenses(32,374)(28,663)(65,550)(59,863)
Other segment items(33,192)(31,727)(65,717)(63,963)
Petroleum additives segment operating profit139,835 147,819 281,942 298,728 
Specialty materials
Net sales42,037 38,010 95,758 55,057 
Other segment items(31,490)(33,038)(62,024)(55,052)
Specialty materials segment operating profit10,547 4,972 33,734 5 
Total segment operating profit150,382 152,791 315,676 298,733 
All other(1,171)(1,374)(1,652)(1,455)
Corporate, general, and administrative expenses(6,414)(3,985)(11,300)(9,542)
Interest and financing expenses, net(10,735)(15,910)(21,435)(31,564)
Other income (expense), net15,626 11,472 30,512 24,515 
Income before income tax expense$147,688 $142,994 $311,801 $280,687 
Schedule Of Segment Operating Profit
The table below reports net sales and operating profit by segment, as well as a reconciliation to income before income tax expense, for the second quarter and six months ended June 30, 2025 and June 30, 2024. No single customer accounted for 10% or more of our total net sales in any period presented.
Second Quarter Ended June 30,Six Months Ended June 30,
(in thousands)2025202420252024
Net sales
Petroleum additives
Lubricant additives$556,479 $575,194 $1,115,657 $1,147,109 
Fuel additives97,396 94,632 183,772 199,981 
Total653,875 669,826 1,299,429 1,347,090 
Specialty materials42,037 38,010 95,758 55,057 
All other2,597 2,392 4,268 4,817 
Total net sales $698,509 $710,228 $1,399,455 $1,406,964 
Segment operating profit
Petroleum additives
Net sales$653,875 $669,826 $1,299,429 $1,347,090 
Cost of goods sold(448,474)(461,617)(886,220)(924,536)
Research, development, and testing expenses(32,374)(28,663)(65,550)(59,863)
Other segment items(33,192)(31,727)(65,717)(63,963)
Petroleum additives segment operating profit139,835 147,819 281,942 298,728 
Specialty materials
Net sales42,037 38,010 95,758 55,057 
Other segment items(31,490)(33,038)(62,024)(55,052)
Specialty materials segment operating profit10,547 4,972 33,734 5 
Total segment operating profit150,382 152,791 315,676 298,733 
All other(1,171)(1,374)(1,652)(1,455)
Corporate, general, and administrative expenses(6,414)(3,985)(11,300)(9,542)
Interest and financing expenses, net(10,735)(15,910)(21,435)(31,564)
Other income (expense), net15,626 11,472 30,512 24,515 
Income before income tax expense$147,688 $142,994 $311,801 $280,687 
Additions To Long-lived Assets And Depreciation And Amortization By Segment
The following tables show additions to long-lived assets by segment and depreciation and amortization by segment and the reconciliation to both consolidated amounts. The additions to long-lived assets include property, plant, and equipment and lease right-of-use assets.
Second Quarter Ended June 30,Six Months Ended June 30,
(in thousands)2025202420252024
Additions to long-lived assets
Petroleum additives$16,449 $17,644 $36,723 $38,948 
Specialty materials4,139 981 5,027 2,418 
All other0 0 0 2 
Corporate970 298 2,062 838 
Total additions to long-lived assets$21,558 $18,923 $43,812 $42,206 
Depreciation and amortization
Petroleum additives$18,700 $19,019 $37,679 $38,093 
Specialty materials8,864 9,381 17,722 15,020 
All other12 12 24 23 
Corporate916 911 1,845 1,994 
Total depreciation and amortization$28,492 $29,323 $57,270 $55,130