Annual report [Section 13 and 15(d), not S-K Item 405]

Investments in Affiliated Companies (Tables)

v3.25.0.1
Investments in Affiliated Companies (Tables)
12 Months Ended
Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments Affiliated companies accounted for on the equity basis as of December 31, 2024 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,
  2024 2023
Current assets $ 254,541  $ 291,825 
Noncurrent assets 166,999  183,717 
Current liabilities 27,226  36,799 
Noncurrent liabilities 5,649  5,797 

December 31,
2024 2023 2022
Sales $ 286,283  $ 345,002  $ 306,511 
Gross profit 78,043  107,865  105,693 
Operating income 37,230  70,783  67,169 
Net income 37,746  74,053  68,255 
(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:
December 31,
2024 2023
Balance at beginning of period $ 440,198  $ 436,013 
Equity in net income of affiliated companies 18,873  37,027 
Charges related to purchase accounting fair value adjustments (3,761) (6,403)
Dividends received (38,000) (28,000)
Impairment of investment in affiliated companies (65,000) — 
Foreign currency translation adjustments (3,002) 1,561 
Balance at end of period $ 349,308  $ 440,198