| Reconciliation of Segment Reporting to Consolidated |
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Emulsion Polymers |
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Plastics |
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For the year ended
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Latex |
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Synthetic
Rubber |
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Styrenics |
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Engineered
Polymers |
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Corporate
Unallocated |
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Total |
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December 31, 2014
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Sales to external customers
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$ |
1,261,137 |
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$ |
633,983 |
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$ |
2,197,067 |
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$ |
1,035,774 |
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$ |
— |
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$ |
5,127,961 |
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Equity in earnings (losses) of unconsolidated affiliates
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— |
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— |
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50,269 |
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(2,520 |
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— |
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47,749 |
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EBITDA(1)
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93,962 |
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136,985 |
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87,496 |
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5,754 |
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Investment in unconsolidated affiliates
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— |
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— |
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133,533 |
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34,125 |
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— |
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167,658 |
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Depreciation and amortization
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26,954 |
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32,900 |
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29,456 |
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10,351 |
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4,045 |
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103,706 |
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December 31, 2013
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Sales to external customers
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$ |
1,341,424 |
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$ |
622,059 |
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$ |
2,305,434 |
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$ |
1,038,497 |
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$ |
— |
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$ |
5,307,414 |
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Equity in earnings (losses) of unconsolidated affiliates
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— |
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— |
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39,447 |
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(309 |
) |
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— |
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39,138 |
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EBITDA(1)
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95,398 |
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113,459 |
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160,724 |
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(9,058 |
) |
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Investment in unconsolidated affiliates
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— |
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— |
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118,263 |
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37,624 |
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— |
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155,887 |
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Depreciation and amortization
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26,092 |
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28,937 |
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28,956 |
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7,375 |
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3,836 |
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95,196 |
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December 31, 2012
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Sales to external customers
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$ |
1,545,064 |
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$ |
701,962 |
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$ |
2,149,202 |
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$ |
1,055,681 |
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$ |
— |
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$ |
5,451,909 |
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Equity in earnings of unconsolidated affiliates
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— |
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— |
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27,026 |
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114 |
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— |
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27,140 |
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EBITDA(1)
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125,473 |
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111,051 |
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82,947 |
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31,503 |
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Investment in unconsolidated affiliates
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— |
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— |
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101,316 |
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38,988 |
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— |
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140,304 |
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Depreciation and amortization
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27,037 |
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18,080 |
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30,618 |
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6,936 |
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2,933 |
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85,604 |
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| (1) |
Reconciliation of EBITDA to net
income (loss) is as follows: |
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Year Ended
December 31, |
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2014 |
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2013 |
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2012 |
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Total segment EBITDA
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$ |
324,197 |
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$ |
360,523 |
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$ |
350,974 |
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Corporate unallocated
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(143,181 |
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(133,658 |
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(107,557 |
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Less: Interest expense, net
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124,923 |
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132,038 |
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109,971 |
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Less: Provision for income taxes
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19,719 |
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21,849 |
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17,560 |
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Less: Depreciation and amortization
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103,706 |
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95,196 |
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85,604 |
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Net income (loss)
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$ |
(67,332 |
) |
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$ |
(22,218 |
) |
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$ |
30,282 |
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| Schedule of Sales Attributed to Geographical Areas Based on Location of Sales and Long-lived Assets Attributed to Geographical Areas Based on Asset Location |
Sales are attributed to geographic areas based on the location
where sales originated; long-lived assets are attributed to
geographic areas based on asset location.
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Year Ended
December 31, |
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2014 |
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2013 |
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2012 |
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United States
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Sales to external customers
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$ |
663,425 |
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$ |
665,801 |
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$ |
683,570 |
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Long-lived assets
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65,329 |
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73,932 |
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84,992 |
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Europe
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Sales to external customers
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$ |
3,066,581 |
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$ |
3,186,659 |
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$ |
3,324,064 |
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Long-lived assets
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383,311 |
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431,494 |
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449,834 |
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Asia-Pacific
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Sales to external customers
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$ |
1,196,163 |
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$ |
1,214,093 |
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$ |
1,200,747 |
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Long-lived assets
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99,654 |
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92,691 |
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91,885 |
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Rest of World
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Sales to external customers
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$ |
201,792 |
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$ |
240,861 |
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$ |
243,528 |
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Long-lived assets
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8,403 |
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8,310 |
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6,561 |
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Total
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Sales to external customers(1)
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$ |
5,127,961 |
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$ |
5,307,414 |
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$ |
5,451,909 |
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Long-lived assets(2)(3)
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556,697 |
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606,427 |
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633,272 |
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| (1) |
Sales to external customers in China
represented approximately 8%, 8% and 8% of the total for the years
ended December 31, 2014, 2013, and 2012, respectively.
Sales to external customers in Germany represented approximately
12%, 11% and 10% of the total for the years ended December 31,
2014, 2013, and 2012, respectively. Sales to external customers in
Hong Kong represented approximately 11%, 10% and 9% of the total
for the years ended December 31, 2014, 2013, and 2012,
respectively. |
| (2) |
Long-lived assets in China
represented approximately 6%, 4%, and 4% of the total for the years
ended December 31, 2014, 2013, and 2012, respectively.
Long-lived assets in Germany represented approximately 43%, 44%,
and 45% of the total for the years ended December 31, 2014,
2013, and 2012, respectively. Long-lived assets in The Netherlands
represented approximately 13%, 13%, and 13% of the total for the
years ended December 31, 2014, 2013, and 2012,
respectively. |
| (3) |
Long-lived assets consist of
property, plant and equipment, net. |
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