Annual report pursuant to Section 13 and 15(d)

Investments in Affiliated Companies (Tables)

v3.22.4
Investments in Affiliated Companies (Tables)
 12 Months Ended
Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments Affiliated companies accounted for on the equity basis as of December 31, 2022 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,
  2022 2021
Current assets $ 278,330  $ 245,859 
Noncurrent assets 196,775  223,982 
Current liabilities 47,407  43,337 
Noncurrent liabilities 16,000  7,471 
Years ended
December 31,
2022 2021 2020
Sales $ 306,511  $ 296,416  $ 275,621 
Gross profit 105,693  101,069  88,616 
Operating income 67,169  66,978  53,500 
Net income 68,255  68,433  55,328 
(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,
2022 2021
Balance at beginning of period $ 446,074  $ 458,128 
Equity in net income of affiliated companies 34,128  34,216 
Charges related to purchase accounting fair value adjustments (6,402) (6,480)
Dividends received (35,000) (35,000)
Foreign currency translation adjustments (2,787) (4,790)
Balance at end of period $ 436,013  $ 446,074