Quarterly report pursuant to Section 13 or 15(d)

Investments in Affiliated Companies (Tables)

v3.19.1
Investments in Affiliated Companies (Tables)
3 Months Ended
Mar. 31, 2019
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 March 31, 2019 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%
Asociacion para el Estudio de las Tecnologias de Equipamiento de Carreteras, S.A. (“Aetec”)
 
Spain
 
20%
Following is summarized information of the combined investments(1):    
 
Three months ended
March 31,
 
2019
 
2018
Sales
$
68,094

 
$
88,576

Gross profit
19,414

 
35,522

Operating income
9,207

 
26,041

Net income
9,240

 
27,022

 
(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.