Quarterly report pursuant to Section 13 or 15(d)

Revenue from Contracts with Customers

v3.20.1
Revenue from Contracts with Customers
3 Months Ended
Mar. 31, 2020
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers
3. Revenue from Contracts with Customers:
Disaggregated Revenue
The Company’s primary means of disaggregating revenues is by reportable segments, which can be found in Note 17 to these condensed consolidated financial statements.
The Company’s portfolio of products are integrated into a variety of end uses, which are described in the table below.
Key End Uses Key Products
Industrial & process chemicals • Silicate precursors for the tire industry
• Glass beads, or microspheres, for metal finishing end uses
Fuels & emission control • Refinery catalysts
• Emission control catalysts
• Catalyst recycling services
• Silicate for catalyst manufacturing
Packaging & engineered plastics • Catalysts for high-density polyethlene and chemicals syntheses
• Antiblocks for film packaging
• Solid and hollow microspheres for composite plastics
• Sulfur derivatives for nylon production
Highway safety & construction • Reflective markings for roadways and airports
• Silica gels for surface coatings
Consumer products • Silica gels for edible oil and beer clarification
• Precipitated silicas, silicates and zeolites for the dentifrice and
  dishwasher and laundry detergent applications
Natural resources • Silicates for drilling muds
• Hollow glass beads, or microspheres, for oil well cements
• Silicates and alum for water treatment mining
• Bleaching aids for paper
The following tables disaggregate the Company’s sales, by segment and end use, for the three months ended March 31, 2020 and 2019:
Three months ended March 31, 2020
Refining
Services
Catalysts Performance Materials Performance Chemicals Total
Industrial & process chemicals $ 19,359    $ 47    $ 12,123    $ 59,833    $ 91,362   
Fuels & emission control (1)
55,710    —    40    —    55,750   
Packaging & engineered plastics 10,734    24,817    17,471    14,275    67,297   
Highway safety & construction (1)
—    —    32,643    20,190    52,833   
Consumer products —    —    —    64,026    64,026   
Natural resources 14,887    —    3,292    15,955    34,134   
Total segment sales 100,690    24,864    65,569    174,279    365,402   
Eliminations (925)   (47)   (54)   (2,778)   (3,804)  
Total $ 99,765    $ 24,817    $ 65,515    $ 171,501    $ 361,598   

Three months ended March 31, 2019
Refining
Services
Catalysts Performance Materials Performance Chemicals Total
Industrial & process chemicals $ 18,402    $ 276    $ 13,028    $ 59,652    $ 91,358   
Fuels & emission control (1)
57,690    —    —    —    57,690   
Packaging & engineered plastics 12,689    15,590    17,382    14,730    60,391   
Highway safety & construction (1)
—    —    27,360    21,938    49,298   
Consumer products —    —    —    68,509    68,509   
Natural resources 17,063    —    3,319    15,633    36,015   
Total segment sales 105,844    15,866    61,089    180,462    363,261   
Eliminations (887)   (276)   (48)   (2,829)   (4,040)  
Total $ 104,957    $ 15,590    $ 61,041    $ 177,633    $ 359,221   

(1)  As described in Note 1, the Company experiences seasonal sales fluctuations to customers in the fuels & emission control and highway safety & construction end uses.
Contract Assets and Liabilities
A contract asset is a right to consideration in exchange for goods that the Company has transferred to a customer when that right is conditional on something other than the passage of time. A contract liability exists when the Company receives consideration in advance of performance obligations. The Company has no contract assets on its condensed consolidated balance sheets as of March 31, 2020 and December 31, 2019.
The Company recognized a $9,000 contract liability associated with the sale of a portion of its sulfate salts product line in June 2019, of which $5,175 and $6,450 of deferred revenue remained as of March 31, 2020 and December 31, 2019, respectively. The Company recognized revenue of $1,269 related to this contract liability during the three months ended March 31, 2020. The Company did not recognize revenue related to this contract liability during the three months ended March 31, 2019.