Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations and Disposal Groups (Tables)

v3.22.1
Discontinued Operations and Disposal Groups (Tables)
 3 Months Ended
Mar. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued operations
The following table summarizes the results of discontinued operations related to the Performance Chemicals business for the three months ended March 31, 2021:
Three months ended
March 31, 2021
Sales $ 164,523 
Cost of goods sold 125,853 
Selling, general and administrative expenses 11,716 
Other operating expense, net 17,480 
Goodwill impairment charge
 95,594 
Operating loss (86,120)
Equity in net (income) from affiliated companies (38)
Interest expense, net (1)
3,215 
Other income, net (5,523)
Loss from discontinued operations before income tax (83,774)
Provision for income taxes 4,411 
Loss from discontinued operations, net of tax $ (88,185)
(1)Upon the close of the transaction, the Company used a portion of the net proceeds to repay a portion of its outstanding debt amounting to $526,363. Prior to the Company’s debt refinancing in June 2021, the Company’s outstanding term loan facilities had mandatory repayment provisions. As a result, interest expense has been allocated to discontinued operations on the basis of the Company’s total repayment of $526,363.