Annual report pursuant to Section 13 and 15(d)

Investments in Affiliated Companies (Tables)

v3.22.0.1
Investments in Affiliated Companies (Tables)
12 Months Ended
Dec. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments Affiliated companies accounted for on the equity method as of December 31, 2021 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,
  2021 2020
Current assets $ 245,859  $ 217,836 
Noncurrent assets 223,982  254,397 
Current liabilities 43,337  65,958 
Noncurrent liabilities 7,471  36,323 
Years ended
December 31,
2021 2020 2019
Sales $ 296,416  $ 275,621  $ 376,372 
Gross profit 101,069  88,616  143,668 
Operating income 66,978  53,500  105,614 
Net income 68,433  55,328  106,683 
(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,
2021 2020
Balance at beginning of period $ 458,128  $ 471,338 
Equity in net income of affiliated companies 34,216  27,699 
Charges related to purchase accounting fair value adjustments (6,480) (6,634)
Dividends received (35,000) (40,000)
Foreign currency translation adjustments (4,790) 5,725 
Balance at end of period $ 446,074  $ 458,128