Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations and Disposal Groups (Tables)

Discontinued Operations and Disposal Groups (Tables)
6 Months Ended
Jun. 30, 2021
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 and six months ended June 30, 2021:
Three months ended
June 30, 2021
Six months ended
June 30, 2021
Sales $ 170,374  $ 334,897 
Cost of goods sold 118,785  244,638 
Selling, general and administrative expenses 11,490  23,206 
Goodwill impairment charge
—  75,080 
Other operating expense, net 11,850  29,330 
Loss on sale of the Performance Chemicals business 13,990  34,504 
Operating income (loss) 14,259  (71,861)
Equity in net (income) from affiliated companies (48) (86)
Interest expense, net (1)
5,599  8,814 
Other income, net (840) (6,363)
Income (loss) from discontinued operations before income tax 9,548  (74,226)
Provision for income taxes 2,507  6,918 
Income (loss) from discontinued operations, net of tax $ 7,041  $ (81,144)
(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.