Quarterly report pursuant to Section 13 or 15(d)

Investments in Affiliated Companies (Tables)

v3.20.2
Investments in Affiliated Companies (Tables)
 9 Months Ended
Sep. 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 September 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
September 30,		 Nine months ended
September 30,
2020 2019 2020 2019
Sales $ 57,923  $ 121,471  $ 217,290  $ 279,503 
Gross profit 11,679  48,416  77,288  102,966 
Operating income 3,304  37,958  49,001  74,217 
Net income 3,681  37,852  50,049  75,002 

(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.