Annual report pursuant to Section 13 and 15(d)

Investments in Affiliated Companies (Tables)

v3.20.4
Investments in Affiliated Companies (Tables)
 12 Months Ended
Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments Affiliated companies accounted for on the equity method as of December 31, 2020 are as follows:
Company  Country  Percent
Ownership 
PQ Silicates Ltd. Taiwan 50%
Zeolyst International USA 50%
Zeolyst C.V. Netherlands 50%
Following is summarized information of the combined investments(1):
  December 31,
  2020 2019
Current assets $ 219,002  $ 248,685 
Noncurrent assets 254,416  256,104 
Current liabilities 66,423  52,638 
Noncurrent liabilities 36,788  5,950 

Years ended
December 31,
2020 2019 2018
Sales $ 278,414  $ 380,381  $ 351,839 
Gross profit 89,471  144,828  126,505 
Operating income 54,010  106,195  88,294 
Net income 55,722  107,112  88,411 
(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,
2020 2019
Balance at beginning of period $ 472,814  $ 468,055 
Equity in net income of affiliated companies 27,871  53,556 
Charges related to purchase accounting fair value adjustments (6,634) (7,534)
Dividends received (40,989) (40,073)
Foreign currency translation adjustments 5,390  (1,190)
Balance at end of period $ 458,452  $ 472,814