Quarterly report pursuant to Section 13 or 15(d)

Investments in Affiliated Companies (Tables)

v3.10.0.1
Investments in Affiliated Companies (Tables)
9 Months Ended
Sep. 30, 2018
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments
The Company accounts for investments in affiliated companies under the equity method. Affiliated companies accounted for on the equity basis as of September 30, 2018 are as follows:
Company
 
Country
 
Percent
Ownership
PQ Silicates Ltd.
 
Taiwan
 
50%
Zeolyst International
 
USA
 
50%
Zeolyst C.V.
 
Netherlands
 
50%
Quaker Holdings
 
South Africa
 
49%
Following is summarized information of the combined investments(1):    
 
 
Three months ended
September 30,
 
Nine months ended
September 30,
 
 
2018
 
2017
 
2018
 
2017
Net sales
 
$
74,088

 
$
83,983

 
$
271,562

 
$
225,770

Gross profit
 
24,495

 
33,276

 
100,686

 
91,862

Operating income
 
14,594

 
22,713

 
72,257

 
60,408

Net income
 
14,545

 
23,819

 
72,204

 
63,663

 
(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.