Subsequent Events |
12 Months Ended |
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Dec. 31, 2018 | |
| Subsequent Events [Abstract] | |
| Subsequent Events |
29. Subsequent Events:
On February 21, 2019, the Company announced that it will change the structure of its internal organization to create four independent businesses in order to promote increased visibility to business unit performance, optimize the Company’s product portfolio and create efficiencies. The reorganization, which will be effective as of March 1, 2019, will lead to the recognition of four operating and reportable segments as follows:
•Catalyst (including the Zeolyst Joint Venture)
•Performance Chemicals
•Performance Materials
•Refining Services
Beginning with the quarter ending March 31, 2019, the segment results and disclosures will reflect the new segment structure for all periods presented. For the purposes of the Company’s goodwill impairment testing, the four new segments align with the Company’s existing reporting units at which level goodwill has been assigned and tested (see Note 14 to these consolidated financial statements for information regarding the Company’s reporting units and annual goodwill impairment test).
Other than the change to the Company’s segments, the Company has evaluated subsequent events since the balance sheet date and determined that there are no additional items to disclose.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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