Annual report pursuant to Section 13 and 15(d)

Investments in Affiliated Companies (Tables)

v3.8.0.1
Investments in Affiliated Companies (Tables)
12 Months Ended
Dec. 31, 2017
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments
Affiliated companies accounted for on the equity method as of December 31, 2017 are as follows:
Company 
 
Country 
 
Percent
Ownership
 
PQ Silicates Ltd.
 
Taiwan
 
50%
Zeolyst International
 
USA
 
50%
Zeolyst C.V.
 
Netherlands
 
50%
Quaker Holdings
 
South Africa
 
49%
 
 
 
 
 
Following is summarized information of the combined investments1:
 
 
December 31,
 
 
2017
 
2016
Current assets
 
$
213,815

 
$
207,997

Noncurrent assets
 
235,440

 
212,144

Current liabilities
 
37,018

 
44,741

Noncurrent liabilities
 
1,417

 
1,384

 
 
 
 
 
 
 
Year Ended
December 31, 2017
 
Period from May 4, 2016 to December 31, 2016
Net sales
 
$
317,197

 
$
206,072

Gross profit
 
132,812

 
91,761

Operating income
 
91,224

 
67,098

Net income
 
94,740

 
67,332


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.
The following table summarizes the activity related to the Company’s investments in affiliated companies balance on the consolidated balance sheets:
 
 
Years ended
December 31,
 
 
2017
 
2016
Balance at beginning of period
 
$
459,406

 
$

Business Combination
 

 
472,994

Acquisition
 
119

 

Investments in affiliated companies
 
9,000

 

Equity in net income of affiliated companies
 
47,371

 
33,684

Charges related to purchase accounting fair value adjustments
 
(8,599
)
 
(36,296
)
Dividends received
 
(44,071
)
 
(7,636
)
Foreign currency translation adjustments
 
6,050

 
(3,340
)
Balance at end of period
 
$
469,276

 
$
459,406