Quarterly report [Sections 13 or 15(d)]

Divestiture (Tables)

v3.26.1
Divestiture (Tables)
 6 Months Ended
Jun. 30, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued operations
The following table summarizes the results of discontinued operations related to the Advanced Materials & Catalysts business for the three and six months ended June 30, 2025:
Three months ended June 30, 2025 Six months ended June 30, 2025
Sales $ 24,063  $ 43,151 
Cost of goods sold 14,501  27,072 
Gross profit 9,562  16,079 
Selling, general and administrative expenses 5,051  9,896 
Other operating expense, net 2,480  4,081 
Operating income 2,031  2,102 
Equity in net (income) from affiliated companies (1,928) (10,844)
Interest expense, net (1)
2,658  5,316 
Other expense, net 290  395 
Income from discontinued operations before income taxes 1,011  7,235 
Provision for income taxes 47  1,734 
Income from discontinued operations, net of tax $ 964  $ 5,501 
(1)Upon the close of the Advanced Materials & Catalysts Sale and finalization of net cash proceeds, the Company was required to provide partial repayment under its Term Loan Credit Agreement dated as of January 30, 2025 (the “2025 Term Loan Facility”). As such, interest expense has been allocated to discontinued operations on the basis of the Company’s partial repayment of $161,500 of the 2025 Term Loan Facility due June 12, 2031.
The following table provides summarized financial information of the combined investments in affiliated companies that were included within the divested business unit:
Three months ended June 30, 2025 Six months ended June 30, 2025
Sales $ 68,579  $ 158,109 
Gross profit 13,522  41,952 
Operating income 4,044  22,250 
Net income 5,076  23,727