Quarterly report pursuant to Section 13 or 15(d)

Investments in Affiliated Companies (Tables)

v3.20.2
Investments in Affiliated Companies (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2020 are as follows:
Company Country Percent
Ownership
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
June 30,		 Six months ended
June 30,
2020 2019 2020 2019
Sales $ 88,161    $ 89,938    $ 159,368    $ 158,032   
Gross profit 34,470    35,137    65,609    54,551   
Operating income 24,688    27,052    45,697    36,259   
Net income 26,333    27,910    46,368    37,150   

(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.