Quarterly report pursuant to Section 13 or 15(d)

Investments in Affiliated Companies (Tables)

Investments in Affiliated Companies (Tables)
3 Months Ended
Mar. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments
The Company accounts for investments in affiliated companies under the equity method. Affiliated companies accounted for on the equity basis as of March 31, 2020 are as follows:
Company Country Percent
PQ Silicates Ltd. Taiwan 50%
Zeolyst International USA 50%
Zeolyst C.V. Netherlands 50%
 Asociacion para el Estudio de las Tecnologias de Equipamiento de Carreteras, S.A. (“Aetec”)
Spain 20%
Following is summarized information of the combined investments(1)
Three months ended
March 31,
2020 2019
Sales $ 71,207    $ 68,094   
Gross profit 31,139    19,414   
Operating income 21,009    9,207   
Net income 20,035    9,240   

(1) Summarized information of the combined investments is presented at 100%; the Company’s share of the net assets and net income of affiliates is calculated based on the percent ownership specified in the table above.