Current report filing

Investments in Affiliated Companies (Tables)

v3.21.2
Investments in Affiliated Companies (Tables)
12 Months Ended
Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments Affiliated companies accounted for on the equity method as of December 31, 2020 are as follows:
Company
  
Country
  
Percent

Ownership
           
Zeolyst International
   USA    50%
Zeolyst C.V.
   Netherlands    50%
Following is summarized information of the combined investments
(1)
:
 
    
December 31,
 
    
2020
    
2019
 
               
Current assets
   $ 217,836      $ 244,778  
Noncurrent assets
     254,397        256,084  
Current liabilities
     65,958        51,703  
Noncurrent liabilities
     36,323        5,968  
    
Years ended

December 31,
 
    
2020
    
2019
    
2018
 
                      
Sales
   $ 275,621      $ 376,372      $ 346,975  
Gross profit
     88,616        143,668        125,109  
Operating income
     53,500        105,614        87,591  
Net income
     55,328        106,683        87,903  
 
(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,
 
    
2020
    
2019
 
               
Balance at beginning of period
   $ 471,338      $ 466,746  
Equity in net income of affiliated companies
     27,699        53,342  
Charges related to purchase accounting fair value adjustments
     (6,634      (7,534
Dividends received
     (40,000      (40,000
Foreign currency translation adjustments
     5,725        (1,216
    
 
 
    
 
 
 
Balance at end of period
   $ 458,128      $ 471,338