0001193125-21-151114 | 10-Q | XBRL Viewer

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Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2021	Apr. 30, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Document Quarterly Report	true
Document Transition Report	false
Current Fiscal Year End Date	--12-31
Document Period End Date	Mar. 31, 2021
Entity File Number	1-13879
Entity Registrant Name	INNOSPEC INC.
Entity Central Index Key	0001054905
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	98-0181725
Entity Address, Postal Zip Code	80112
City Area Code	303
Local Phone Number	792 5554
Security Exchange Name	NASDAQ
Title of 12(b) Security	Common stock
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		24,608,245
Entity Address, Address Line One	8310 South Valley Highway
Entity Address, Address Line Two	Suite 350
Entity Address, City or Town	Englewood
Entity Address, State or Province	CO
Trading Symbol	IOSP
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Net sales	$ 339.6	$ 372.3
Cost of goods sold	(238.8)	(258.4)
Gross profit	100.8	113.9
Operating expenses:
Selling, general and administrative	(63.6)	(64.4)
Research and development	(9.0)	(8.6)
Total operating expenses	(72.6)	(73.0)
Operating income	28.2	40.9
Other income, net	3.0	3.9
Interest expense, net	(0.4)	(0.6)
Income before income tax expense	30.8	44.2
Income tax expense	(7.4)	(11.1)
Net income	$ 23.4	$ 33.1
Earnings per share:
Basic	$ 0.95	$ 1.35
Diluted	$ 0.94	$ 1.34
Weighted average shares outstanding (in thousands):
Basic	24,601	24,529
Diluted	24,840	24,742

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 23.4	$ 33.1
Changes in cumulative translation adjustment, net of tax of $1.0 million and $1.6 million, respectively	(11.3)	(7.9)
Amortization of prior service cost/(credit), net of tax of $0.0 and $0.0 million, respectively	0.1	(0.2)
Amortization of actuarial net losses, net of tax of $(0.1) million and $0.0 million, respectively	0.6	0.2
Total other comprehensive loss	(10.6)	(7.9)
Total comprehensive income	$ 12.8	$ 25.2

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

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- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Changes in cumulative translation adjustment, tax	$ 1.0	$ 1.6
Amortization of prior service credit, tax	0.0	0.0
Amortization of actuarial net losses, tax	$ 0.1	$ 0.0

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 117.0	$ 105.3
Trade and other accounts receivable (less allowances of $4.1 million and $4.5 million respectively)	247.9	221.4
Inventories (less allowances of $19.4 million and $19.4 million respectively):
Finished goods	158.5	156.3
Raw materials	64.6	63.7
Total inventories	223.1	220.0
Prepaid expenses	12.3	14.9
Prepaid income taxes	5.0	4.2
Other current assets	2.3	0.4
Total current assets	607.6	566.2
Net property, plant and equipment	209.9	210.8
Operating lease right-of-use assets	36.7	40.1
Goodwill	367.2	371.2
Other intangible assets	70.2	75.3
Deferred tax assets	7.4	7.6
Pension asset	119.6	118.0
Other non-current assets	7.5	8.2
Total assets	1,426.1	1,397.4
Current liabilities:
Accounts payable	114.5	98.7
Accrued liabilities	131.8	129.8
Current portion of finance leases	0.4	0.5
Current portion of plant closure provisions	6.6	6.6
Current portion of accrued income taxes	8.8	5.5
Current portion of operating lease liabilities	12.2	11.3
Total current liabilities	274.3	252.4
Long-term debt	0.0	0.0
Finance leases, net of current portion	0.0	0.1
Operating lease liabilities, net of current portion	24.6	28.9
Plant closure provisions, net of current portion	51.3	51.9
Accrued income taxes, net of current portion	32.4	32.4
Unrecognized tax benefits	16.0	16.0
Deferred tax liabilities	46.5	46.9
Pension liabilities and post-employment benefits	19.5	20.5
Other non-current liabilities	2.4	3.4
Equity:
Common stock, $0.01 par value, authorized 40,000,000 shares, issued 29,554,500 shares	0.3	0.3
Additional paid-in capital	337.8	336.1
Treasury stock (4,958,599 and 5,047,278 shares at cost, respectively)	(93.6)	(93.3)
Retained earnings	782.0	758.6
Accumulated other comprehensive loss	(67.9)	(57.3)
Total Innospec stockholders' equity	958.6	944.4
Non-controlling interest	0.5	0.5
Total equity	959.1	944.9
Total liabilities and equity	$ 1,426.1	$ 1,397.4

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Allowances for doubtful accounts	$ 4.1	$ 4.5
Inventory allowances	$ 19.4	$ 19.4
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	29,554,500	29,554,500
Treasury stock, shares	4,946,360	4,958,599

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash Flows from Operating Activities
Net income	$ 23.4	$ 33.1
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	10.3	12.0
Deferred tax expense	0.1	0.7
Non-cash movements on defined benefit pension plans	(0.8)	(1.2)
Stock option compensation	1.6	1.2
Changes in assets and liabilities, net of effects of acquired and divested companies:
Trade and other accounts receivable	(30.7)	(7.9)
Inventories	(5.5)	(5.0)
Prepaid expenses	2.4	2.1
Accounts payable and accrued liabilities	20.2	(36.0)
Accrued income taxes	3.7	1.6
Plant closure provisions	(0.2)	0.1
Other assets and liabilities	(1.8)	1.7
Net cash provided by operating activities	22.7	2.4
Cash Flows from Investing Activities
Capital expenditures	(10.3)	(7.8)
Net cash used in investing activities	(10.3)	(7.8)
Cash Flows from Financing Activities
Non-controlling interest	0.0	0.1
Repayments of finance leases	(0.2)	(0.3)
Issue of treasury stock	0.5	0.7
Repurchase of common stock	(0.6)	(2.1)
Net cash used in financing activities	(0.3)	(1.6)
Effect of foreign currency exchange rate changes on cash	(0.4)	(0.6)
Net change in cash and cash equivalents	11.7	(7.6)
Cash and cash equivalents at beginning of period	105.3	75.7
Cash and cash equivalents at end of period	$ 117.0	$ 68.1

Condensed Consolidated Statements of Equity - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Non-Controlling Interest [Member]
Beginning Balance at Dec. 31, 2019	$ 918.9	$ 0.3	$ 330.4	$ (93.3)	$ 755.5	$ (74.4)	$ 0.4
Net income	33.1				33.1
Changes in cumulative translation adjustment, net of tax	(7.9)					(7.9)
Share of net income	0.1						0.1
Treasury stock re-issued	1.0		(0.4)	1.4
Treasury stock repurchased	(2.1)			(2.1)
Stock option compensation	1.2		1.2
Amortization of prior service cost, net of tax	(0.2)					(0.2)
Amortization of actuarial net losses, net of tax	0.2					0.2
Ending Balance at Mar. 31, 2020	944.3	0.3	331.2	(94.0)	788.6	(82.3)	0.5
Beginning Balance at Dec. 31, 2020	944.9	0.3	336.1	(93.3)	758.6	(57.3)	0.5
Net income	23.4				23.4
Changes in cumulative translation adjustment, net of tax	(11.3)					(11.3)
Treasury stock re-issued	0.4		0.1	0.3
Treasury stock repurchased	(0.6)			(0.6)
Stock option compensation	1.6		1.6
Amortization of prior service cost, net of tax	0.1					0.1
Amortization of actuarial net losses, net of tax	0.6					0.6
Ending Balance at Mar. 31, 2021	$ 959.1	$ 0.3	$ 337.8	$ (93.6)	$ 782.0	$ (67.9)	$ 0.5

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	NOTE 1 – BASIS OF PRESENTATION The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X under the Securities Exchange Act of 1934. Accordingly, they do not include all the information and notes necessary for a comprehensive presentation of financial position, results of operations and cash flows. It is our opinion, however, that all adjustments (consisting of normal, recurring adjustments, unless otherwise disclosed) have been made which are necessary for the condensed consolidated financial statements to be fairly stated. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 filed on February 17, 2021 (the “2020 Form 10-K”). The results for the interim period covered by this report are not necessarily indicative of the results to be expected for the full year. When we use the terms “Innospec,” “the Corporation,” “the Company,” “Registrant,” “we,” “us” and “our,” we are referring to Innospec Inc. and its consolidated subsidiaries unless otherwise indicated or the context otherwise requires.

Segment Reporting

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Segment Reporting

NOTE 2 – SEGMENT REPORTING

The Company reports its financial performance based on the following three reportable segments: Fuel Specialties, Performance Chemicals and Oilfield Services.

The Fuel Specialties, Performance Chemicals and Oilfield Services segments operate in markets where we actively seek growth opportunities although their ultimate customers are different. Our previously reported Octane Additives segment ceased trading in the second quarter of 2020.

The Company evaluates the performance of its segments based on operating income. The following tables analyze sales and other financial information by the Company’s reportable segments:


	Three Months Ended March 31
(in millions)	2021			2020
Net Sales:
Refinery and Performance	$	99.3		$	108.6
Other		40.0			38.4

Fuel Specialties		139.3			147.0

Personal Care		68.2			63.0
Home Care		23.0			21.6
Other		34.7			28.5

Performance Chemicals		125.9			113.1


Oilfield Services		74.4			112.2

	$	339.6		$	372.3

Gross profit/(loss):
Fuel Specialties	$	44.9		$	51.2
Performance Chemicals		31.4			27.6
Oilfield Services		24.5			36.2
Octane Additives		0.0			(1.1	)

	$	100.8		$	113.9

Operating income/(loss):
Fuel Specialties	$	23.8		$	32.1
Performance Chemicals		18.3			15.6
Oilfield Services		1.2			7.2
Octane Additives		0.0			(1.2	)
Corporate costs		(15.1	)		(12.8	)

Total operating income	$	28.2		$	40.9

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Earnings per Share

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Earnings per Share

NOTE 3 – EARNINGS PER SHARE

Basic earnings per share is based on the weighted average number of common shares outstanding during the period. Diluted earnings per share includes the effect of options that are dilutive and outstanding during the period under the treasury stock method. Per share amounts are computed as follows:


	Three Months Ended March 31
	2021		2020
Numerator (in millions):
Net income available to common stockholders	$	23.4	$	33.1

Denominator (in thousands):
Weighted average common shares outstanding		24,601		24,529
Dilutive effect of stock options and awards		239		213

Denominator for diluted earnings per share		24,840		24,742

Net income per share, basic:	$	0.95	$	1.35

Net income per share, diluted:	$	0.94	$	1.34

In the three months ended March 31, 2021, the average number of anti-dilutive options excluded from the calculation of diluted earnings per share were 15,144 (three months ended March 31, 2020 – 17,636).

Goodwill

3 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

NOTE 4 – GOODWILL

The following table summarizes the goodwill movements:


(in millions)	Gross Cost
Opening balance at January 1	$	371.2
Exchange effect		(4.0	)

Closing balance at March 31	$	367.2

Other Intangible Assets

3 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Other Intangible Assets

NOTE 5 – OTHER INTANGIBLE ASSETS

The following table summarizes the other intangible assets movements:


(in millions)	2021
Gross cost at January 1	$	298.9
Exchange effec t		(2.0	)

Gross cost at March 31		296.9

Accumulated amortization at January 1		(223.6	)

Amortization expense		(4.0	)
Exchange effect		0.9

Accumulated amortization at March 31		(226.7	)

Net book amount at March 31	$	70.2

The amortization expense for the three months ended March 31, 2021 was $4.0 million (three months ended March 31, 2020 – $5.8 million).

The net book amount by category of other intangible assets is shown in the following table:


(in millions)	March 31 2021		December 31 2020
Product rights	$	5.3	$	6.3
Brand names		2.2		2.3
Technology		19.2		19.8
Customer relationships		41.2		44.2
Internally developed software		2.3		2.7

	$	70.2	$	75.3

Pension and Post-Employment Benefits

3 Months Ended

Mar. 31, 2021

Retirement Benefits [Abstract]

Pension and Post-Employment Benefits

NOTE 6 – PENSION AND POST EMPLOYMENT BENEFITS

The Company maintains a defined benefit pension plan (the “Plan”) covering a number of its current and former employees in the United Kingdom, although it does also have other much smaller pension arrangements in the U.S. and overseas. The Plan is closed to future service accrual but has a large number of deferred and current pensioners.

The net service cost for the three months ended March 31, 2021 was $0.4 million (three months ended March 31, 2020 – $0.3 million) and has been recognized in selling, general and administrative expenses within corporate costs. The following table shows the income statement effect recognized within other income, net:


	Three Months Ended March 31
(in millions)	2021			2020
Plan net pension credit/(charge):
Interest cost on projected benefit obligation	$	(1.9	)	$	(2.8	)
Expected return on plan assets		3.9			4.5
Amortization of prior service (cost)/credit		(0.1	)		0.2
Amortization of actuarial net losses		(0.4	)		(0.2	)

	$	1.5		$	1.7

The amortization of prior service credit and actuarial net losses is a reclassification out of accumulated other comprehensive loss into other income and expense.

The Company also maintains an unfunded defined benefit pension plan covering a number of its current and former employees in Germany (the “German plan”) within our Fuel Specialties segment. The German plan is closed to new entrants and has no assets. The net service cost for the German plan for the three months ended March 31, 2021 was $0.0 million (three months ended March 31, 2020 – $0.0 million) and has been recognized in selling, general and administrative expenses. The following table shows the income statement effect recognized within other income and expense:


		Three Months Ended March 31
(in millions)		2021				2020
Plan net pension charge:
Interest cost on projected benefit obligation		$	0.0			$	0.0
Amortization of actuarial net losses			(0.3	)			(0.2	)

	$	(0.3		)	$	(0.2		)

As at March 31, 2021, our Performance Chemicals segment has obligations for post-employment benefits in its European businesses with a liability of $5.1 million (December 31, 2020 – $5.3 million).

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=118257860&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Income Taxes

3 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 7 – INCOME TAXES

A roll-forward of unrecognized tax benefits and associated accrued interest and penalties is as follows:


(in millions)	Unrecognized Tax Benefits			Interest and Penalties		Total
Opening balance at January 1	$	13.6		$	2.4	$	16.0
Net change for tax positions of prior periods		(0.1	)		0.1		0.0

Closing balance at March 31		13.5			2.5		16.0
Current		0.0			0.0		0.0

Non-current	$	13.5		$	2.5	$	16.0

All of the $16.0 million of unrecognized tax benefits, interest and penalties would impact our effective tax rate if recognized.

As previously disclosed, a

non-U.S.

subsidiary, Innospec Performance Chemicals Italia Srl, is subject to an ongoing tax audit in relation to the period 2011 to 2014

inclusive. The C

ompany has determined additiona

l tax, interest and penalties totaling

$3.3 million may arise as a consequence of the tax audit. This includes a reduction for foreign exchange movements of $0.1 million recorded in the three months to March 31, 2021. As any additional tax arising as a consequence of the tax audit would be reimbursed by the previous owner under the terms of the sale and purchase agreement, an indemnification asset of the same amount is recorded in the financial statements to reflect this arrangement.

As previously disclosed, in 2018 the Company recorded an unrecognized tax benefit in relation to a potential adjustment that could arise as a consequence of the Tax Cuts and Jobs Act. The Company has determined that additional tax, interest and penalties totaling $12.5 million may arise in relation to this item. This includes an increase in interest accrued of $0.1 million in the three months to March 31, 2021.

Other non-significant items,

inclusive of interest and penalties, total $0.2 million.

The Company and its U.S. subsidiaries remain open to examination by the IRS for years 2017 onwards under the statute of limitations. The Company’s subsidiaries in foreign tax jurisdictions are open to examination including Germany (2016 onwards), Switzerland (2016 onwards), Spain (2016 onwards), France (2018 onwards) and the United Kingdom (2018 onwards).

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Long-Term Debt	3 Months Ended
Long-Term Debt	Mar. 31, 2021
Debt Disclosure [Abstract]
Long-Term Debt	NOTE 8 – LONG-TERM DEBT As at March 31, 2021, and December 31, 2020, the Company had repaid all of its borrowings under its revolving credit facility. The Company continues to have available a $250.0 million revolving credit facility until September 25, 2024. The facility contains an accordion feature whereby the Company may elect to increase the total available borrowings by an aggregate amount of up to $125.0 million. The deferred finance costs of $1.3 million related to the arrangement of the credit facility, are included within other current and non-current assets at the balance sheet dates.

Plant Closure Provisions

3 Months Ended

Mar. 31, 2021

Restructuring and Related Activities [Abstract]

Plant Closure Provisions

NOTE 9 – PLANT CLOSURE PROVISIONS

The Company has continuing plans to remediate some of its manufacturing facilities at sites around the world as and when those operations are expected to cease or we are required to decommission the sites according to local laws and regulations. The liability for estimated closure costs of Innospec’s manufacturing facilities includes costs for decontamination and environmental remediation activities (“remediation”).

As a result, the principal site giving rise to remediation liabilities is the manufacturing site at Ellesmere Port in the United Kingdom. There are also provisions on a much smaller scale in respect of some of our other manufacturing sites in the U.S. and Europe. We recognize environmental remediation liabilities when they are probable and costs can be reasonably estimated, and asset retirement obligations when there is a legal obligation and costs can be reasonably estimated.

Movements in the provisions are summarized as follows:


(in millions)	2021
Total at January 1	$	58.5
Charge for the period		1.0
Utilized in the period		(1.2	)
Exchange effect		(0.4	)

Total at March 31		57.9
Due within one year		(6.6	)

Due after one year	$	51.3

The charge for the three months ended March 31, 2021 was $1.0 million (three months ended March 31, 2020 – $1.1 million).

The current and prior year charge represents the accounting accretion only, with no changes for the expected cost and scope of future remediation activities.

Amounts due within one year refer to provisions where expenditure is expected to arise within one year of the balance sheet date.

Fair Value Measurements

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements

NOTE 10 – FAIR VALUE MEASUREMENTS

The following table presents the carrying amount and fair values of the Company’s financial assets and liabilities measured on a recurring basis:


	March 31, 2021				December 31, 2020
(in millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets
Non-derivatives:
Cash and cash equivalents	$	117.0	$	117.0	$	105.3	$	105.3
Derivatives (Level 1 measurement):
Other current and non-current assets:
Foreign currency forward exchange contracts		1.9		1.9		0.0		0.0

Liabilities
Non-derivatives:
Finance leases (including current portion)		0.4		0.4		0.6		0.6
Derivatives (Level 1 measurement):
Other current and non-current liabilities:
Foreign currency forward exchange contracts		0.0		0.0		0.5		0.5
Non-financial liabilities (Level 3 measurement):
Other current and non-current liabilities:
Stock equivalent units		20.8		20.8		17.2		17.2

The following methods and assumptions were used to estimate the fair values:

Cash and cash equivalents:

The carrying amount approximates fair value because of the short-term maturities of such instruments.

Derivatives:

The fair value of derivatives relating to foreign currency forward exchange contracts are derived from current settlement prices and comparable contracts using current assumptions. Foreign currency forward exchange contracts primarily relate to contracts entered into to hedge future known transactions or hedge balance sheet net cash positions. The movements in the carrying amounts and fair values of these contracts are largely due to changes in exchange rates against the U.S. dollar.

Finance leases:

Finance leases relate to certain fixed assets in our Fuel Specialties and Oilfield Services segments. The carrying amount of finance leases approximates to the fair value.

Stock equivalent units:

The fair values of stock equivalent units are calculated at each balance sheet date using either the Black-Scholes or Monte Carlo method depending on the terms of each grant.

Derivative Instruments and Risk Management	3 Months Ended
Derivative Instruments and Risk Management	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Risk Management	NOTE 11 – DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT The Company enters into various foreign currency forward exchange contracts to minimize currency exchange rate exposure from expected future cash flows. As at March 31, 2021 the contracts have maturity dates of up to twelve months at the date of inception. These foreign currency forward exchange contracts have not been designated as hedging instruments, and their impact on the income statement for the first three months of 2021 was a gain of $1.3 million (first three months of 2020 – a gain of $1.9 million).

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 12 – COMMITMENTS AND CONTINGENCIES Legal matters While we are involved from time to time in claims and legal proceedings that result from, and are incidental to, the conduct of our business including business and commercial litigation, employee and product liability claims, there are no material pending legal proceedings to which the Company or any of its subsidiaries is a party, or of which any of their property is subject. It is possible, however, that an adverse resolution of an unexpectedly large number of such individual claims or proceedings could in the aggregate have a material adverse effect on the results of operations for a particular year or quarter. Guarantees The Company and certain of the Company’s consolidated subsidiaries are contingently liable for certain obligations of affiliated companies primarily in the form of guarantees of debt and performance under contracts entered into as a normal business practice. This includes guarantees of non-U.S. excise taxes and customs duties. As at March 31, 2021, such guarantees which are not recognized as liabilities in the condensed consolidated financial statements amounted to $8.1 million (December 31, 2020 - $9.9 million). The remaining terms of the fixed maturity guarantees are up to 3 years, with some further guarantees having no fixed expiry date. Under the terms of the guarantee arrangements, generally the Company would be required to perform should the affiliated company fail to fulfil its obligations under the arrangements. In some cases, the guarantee arrangements have recourse provisions that would enable the Company to recover any payments made under the terms of the guarantees from securities held of the guaranteed parties’ assets. The Company and its affiliates have numerous long-term sales and purchase commitments in their various business activities, which are expected to be fulfilled with no adverse consequences material to the Company.

Stock-Based Compensation Plans

3 Months Ended

Mar. 31, 2021

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation Plans

NOTE 13 – STOCK-BASED COMPENSATION PLANS

The Company grants stock options and stock equivalent units (“SEUs”) from time to time as a long-term performance incentive. In certain cases the grants are subject to performance conditions such as the Company’s stock price. Where performance conditions apply the Monte Carlo simulation model is used to determine the fair values. Otherwise the Black-Scholes model is used to determine the fair values.

Stock option plans

The following table summarizes the transactions of the Company’s stock option plans for the three months ended March 31, 2021.


	Number of Options			Weighted Average Exercise Price		Weighted Average Grant-Date Fair Value
Outstanding at December 31, 2020		442,893		$	32.49	$	45.31
Granted - at discount		69,996		$	0.00	$	92.32
- at market value		10,388		$	99.85	$	32.71
Exercised		(18,493	)	$	27.24	$	37.03
Forfeited		(1,307	)	$	50.54	$	32.61

Outstanding at March 31, 2021		503,477		$	29.42	$	51.97

At March 31, 2021, there were 115,847 stock options that were exercisable, of which 77,979 had performance conditions attached.

The stock option compensation cost for the first three months of 2021 was $1.6 million (first three months of 2020 – $1.2 million). The total intrinsic value of options exercised in the first three months of 2021 was $0.6 million (first three months of 2020 – $4.2 million).

The total compensation cost related to

non-vested

stock options not yet recognized at March 31, 2021 was $12.1 million and this cost is expected to be recognized over the weighted-average period of 2.22 years.

Stock equivalent units

The following table summarizes the transactions of the Company’s SEUs for the three months ended March 31, 2021:


	Number of SEUs			Weighted Average Exercise Price		Weighted Average Grant-Date Fair Value
Outstanding at December 31, 2020		390,164		$	4.35	$	63.96
Granted - at discount		87,451		$	0.00	$	88.94
- at market value		3,803		$	99.85	$	32.71
Exercised		(6,275	)	$	1.36	$	42.82
Forfeited		(12,400	)	$	0.00	$	67.33

Outstanding at March 31, 2021		462,743		$	4.47	$	68.62

At March 31, 2021 there were 52,279 SEUs that are exercisable, of which 40,464 had performance conditions attached.

The charges for SEUs are spread over the life of the award subject to a revaluation to fair value each quarter. The revaluation may result in a charge or a credit to the income statement in the quarter dependent upon our share price and other performance criteria.

The SEU compensation for the first three months of 2021 was a $4.4 million

charge

(first three months of 2020 – $6.0 million credit). The total intrinsic value of SEUs exercised in the first three months of 2021 was $0.3 million (first three months of 2020 – $5.6 million).

The weighted-average remaining vesting period of

non-vested

SEUs is 2.26 years.

Reclassifications out of Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2021

Equity [Abstract]

Reclassifications out of Accumulated Other Comprehensive Loss

NOTE 14 – RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE LOSS

Reclassifications out of accumulated other comprehensive loss for the first three months of 2021 were:


(in millions) Details about AOCL Components	Amount Reclassified from AOCL			Affected Line Item in the Statement where Net Income is Presented
Defined benefit pension plan items:
Amortization of prior service credit	$	0.1		See (1) below
Amortization of actuarial net losses		0.7		See (1) below

		0.8		Total before tax
		(0.1	)	Income tax expense

Total reclassifications	$	0.7		Net of tax

Reclassifications out of accumulated other comprehensive loss for the first quarter of 2020 were:


(in millions) Details about AOCL Components	Amount Reclassified from AOCL			Affected Line Item in the Statement where Net Income is Presented
Defined benefit pension plan items:
Amortization of prior service credit	$	(0.2	)	See (¹) below
Amortization of actuarial net losses		0.2		See (¹) below

		0.0		Total before tax
		0.0		Income tax expense

Total reclassifications	$	0.0		Net of tax

(1)

These items are included in other income and expense. See Note 6 of the Notes to the Condensed Consolidated Financial Statements for additional information.

Changes in accumulated other comprehensive loss for the first three months of 2021, net of tax, were:


(in millions)	Defined Benefit Pension Plan Items			Cumulative Translation Adjustments			Total
Balance at December 31, 202 0	$	(15.9	)	$	(41.4	)	$	(57.3	)

Other comprehensive income before reclassifications		0.0			(11.3	)		(11.3	)
Amounts reclassified from AOCL		0.7			0.0			0.7

Total other comprehensive income		0.7			(11.3	)		(10.6	)

Balance at March 31, 2021	$	(15.2	)	$	(52.7	)	$	(67.9	)

Changes in accumulated other comprehensive loss for the first three months of 2020, net of tax, were:


(in millions)	Defined Benefit Pension Plan Items			Cumulative Translation Adjustments			Total
Balance at December 31, 2019	$	(9.3	)	$	(65.1	)	$	(74.4	)

Other comprehensive income before reclassification s		0.0			(7.9	)		(7.9	)
Amounts reclassified from AOCL		0.0			0.0			0.0

Total other comprehensive income		0.0			(7.9	)		(7.9	)

Balance at March 31, 2020	$	(9.3	)	$	(73.0	)	$	(82.3	)

Recently Issued Accounting Pronouncements	3 Months Ended
Recently Issued Accounting Pronouncements	Mar. 31, 2021
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Pronouncements	NOTE 15 – RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS As previously reported, in December 2019 the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2019-12, Simplifying the Accounting for Income Taxes (Topic 740). This removes certain exceptions to the general principles in Topic 740 and improves consistent application of and simplifies GAAP for other areas of Topic 740 by clarifying and amending existing guidance. This ASU is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Adopting the new standard on January 1, 2021 has not impacted the Company’s prior period comparatives and will not have a material impact on the Company’s consolidated financial statements, including its accounting policies, processes and systems.

Related Party Transactions	3 Months Ended
Related Party Transactions	Mar. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 16 – RELATED PARTY TRANSACTIONS Mr. Patrick S. Williams has been an executive director of the Company since April 2009 and has been a non-executive director of AdvanSix, a chemicals manufacturer, since February 2020. In the first three months of 2021 the Company purchased product from AdvanSix for $0.0 million (first three months of 2020 – $0.1 million). As at March 31, 2021, the Company owed $0.0 million to AdvanSix (December 31, 2020 – $0.0 million). Mr. Robert I. Paller has been a non-executive director of the Company since November 1, 2009. The Company has retained and continues to retain Smith, Gambrell & Russell, LLP (“SGR”), a law firm with which Mr. Paller holds a position. In the first three months of 2021 the Company incurred fees from SGR of $0.1 million (first three months of 2020 – $0.1 million). As at March 31, 2021, the Company owed $0.0 million to SGR (December 31, 2020 – $0.1 million). Mr. David F. Landless has been a non-executive director of the Company since January 1, 2016 and is a non-executive director of Ausurus Group Limited which owns European Metal Recycling Limited (“EMR”). The Company has sold scrap metal to EMR in the first three months of 2021 for a value of $0.1 million (first three months of 2020 – $0.1 million). A tendering process is operated periodically to select the best buyer for the sale of scrap metal by the Company. As at March 31, 2021 EMR owed $0.0 million for scrap metal purchased from the Company (December 31, 2020 – $0.0 million).

Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Segment Reporting

The Company evaluates the performance of its segments based on operating income. The following tables analyze sales and other financial information by the Company’s reportable segments:


	Three Months Ended March 31
(in millions)	2021			2020
Net Sales:
Refinery and Performance	$	99.3		$	108.6
Other		40.0			38.4

Fuel Specialties		139.3			147.0

Personal Care		68.2			63.0
Home Care		23.0			21.6
Other		34.7			28.5

Performance Chemicals		125.9			113.1


Oilfield Services		74.4			112.2

	$	339.6		$	372.3

Gross profit/(loss):
Fuel Specialties	$	44.9		$	51.2
Performance Chemicals		31.4			27.6
Oilfield Services		24.5			36.2
Octane Additives		0.0			(1.1	)

	$	100.8		$	113.9

Operating income/(loss):
Fuel Specialties	$	23.8		$	32.1
Performance Chemicals		18.3			15.6
Oilfield Services		1.2			7.2
Octane Additives		0.0			(1.2	)
Corporate costs		(15.1	)		(12.8	)

Total operating income	$	28.2		$	40.9

Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Summary of Earnings Per Share

Per share amounts are computed as follows:


	Three Months Ended March 31
	2021		2020
Numerator (in millions):
Net income available to common stockholders	$	23.4	$	33.1

Denominator (in thousands):
Weighted average common shares outstanding		24,601		24,529
Dilutive effect of stock options and awards		239		213

Denominator for diluted earnings per share		24,840		24,742

Net income per share, basic:	$	0.95	$	1.35

Net income per share, diluted:	$	0.94	$	1.34

Goodwill (Tables)

3 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Goodwill

The following table summarizes the goodwill movements:


(in millions)	Gross Cost
Opening balance at January 1	$	371.2
Exchange effect		(4.0	)

Closing balance at March 31	$	367.2

Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Other Intangible Assets

The following table summarizes the other intangible assets movements:


(in millions)	2021
Gross cost at January 1	$	298.9
Exchange effec t		(2.0	)

Gross cost at March 31		296.9

Accumulated amortization at January 1		(223.6	)

Amortization expense		(4.0	)
Exchange effect		0.9

Accumulated amortization at March 31		(226.7	)

Net book amount at March 31	$	70.2

Schedule of Amortization Expense

The net book amount by category of other intangible assets is shown in the following table:


(in millions)	March 31 2021		December 31 2020
Product rights	$	5.3	$	6.3
Brand names		2.2		2.3
Technology		19.2		19.8
Customer relationships		41.2		44.2
Internally developed software		2.3		2.7

	$	70.2	$	75.3

Pension and Post-Employment Benefits (Tables)

3 Months Ended

Mar. 31, 2021

United Kingdom Plan [Member]

Plan Net Pension Credit

The following table shows the income statement effect recognized within other income, net:


	Three Months Ended March 31
(in millions)	2021			2020
Plan net pension credit/(charge):
Interest cost on projected benefit obligation	$	(1.9	)	$	(2.8	)
Expected return on plan assets		3.9			4.5
Amortization of prior service (cost)/credit		(0.1	)		0.2
Amortization of actuarial net losses		(0.4	)		(0.2	)

	$	1.5		$	1.7

German Plan [Member]

Plan Net Pension Credit

The following table shows the income statement effect recognized within other income and expense:


		Three Months Ended March 31
(in millions)		2021				2020
Plan net pension charge:
Interest cost on projected benefit obligation		$	0.0			$	0.0
Amortization of actuarial net losses			(0.3	)			(0.2	)

	$	(0.3		)	$	(0.2		)

Income Taxes (Tables)

3 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

Roll-forward of Unrecognized Tax Benefits and Associated Accrued Interest and Penalties

A roll-forward of unrecognized tax benefits and associated accrued interest and penalties is as follows:


(in millions)	Unrecognized Tax Benefits			Interest and Penalties		Total
Opening balance at January 1	$	13.6		$	2.4	$	16.0
Net change for tax positions of prior periods		(0.1	)		0.1		0.0

Closing balance at March 31		13.5			2.5		16.0
Current		0.0			0.0		0.0

Non-current	$	13.5		$	2.5	$	16.0

Plant Closure Provisions (Tables)

3 Months Ended

Mar. 31, 2021

Restructuring and Related Activities [Abstract]

Movements in Plant Closure and Restructuring Provisions

Movements in the provisions are summarized as follows:


(in millions)	2021
Total at January 1	$	58.5
Charge for the period		1.0
Utilized in the period		(1.2	)
Exchange effect		(0.4	)

Total at March 31		57.9
Due within one year		(6.6	)

Due after one year	$	51.3

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Carrying Amount and Fair Values of the Company's Assets and Liabilities Measured on a Recurring Basis

The following table presents the carrying amount and fair values of the Company’s financial assets and liabilities measured on a recurring basis:


	March 31, 2021				December 31, 2020
(in millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets
Non-derivatives:
Cash and cash equivalents	$	117.0	$	117.0	$	105.3	$	105.3
Derivatives (Level 1 measurement):
Other current and non-current assets:
Foreign currency forward exchange contracts		1.9		1.9		0.0		0.0

Liabilities
Non-derivatives:
Finance leases (including current portion)		0.4		0.4		0.6		0.6
Derivatives (Level 1 measurement):
Other current and non-current liabilities:
Foreign currency forward exchange contracts		0.0		0.0		0.5		0.5
Non-financial liabilities (Level 3 measurement):
Other current and non-current liabilities:
Stock equivalent units		20.8		20.8		17.2		17.2

Stock-Based Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2021

Summarizes Transactions of SEUs

The following table summarizes the transactions of the Company’s SEUs for the three months ended March 31, 2021:


	Number of SEUs			Weighted Average Exercise Price		Weighted Average Grant-Date Fair Value
Outstanding at December 31, 2020		390,164		$	4.35	$	63.96
Granted - at discount		87,451		$	0.00	$	88.94
- at market value		3,803		$	99.85	$	32.71
Exercised		(6,275	)	$	1.36	$	42.82
Forfeited		(12,400	)	$	0.00	$	67.33

Outstanding at March 31, 2021		462,743		$	4.47	$	68.62

Stock Options Plan [Member]

Summary of Transactions of Company's Stock Option Plans

The following table summarizes the transactions of the Company’s stock option plans for the three months ended March 31, 2021.


	Number of Options			Weighted Average Exercise Price		Weighted Average Grant-Date Fair Value
Outstanding at December 31, 2020		442,893		$	32.49	$	45.31
Granted - at discount		69,996		$	0.00	$	92.32
- at market value		10,388		$	99.85	$	32.71
Exercised		(18,493	)	$	27.24	$	37.03
Forfeited		(1,307	)	$	50.54	$	32.61

Outstanding at March 31, 2021		503,477		$	29.42	$	51.97

Reclassifications out of Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Mar. 31, 2021

Equity [Abstract]

Summary of Reclassifications Out of Accumulated Other Comprehensive Loss

Reclassifications out of accumulated other comprehensive loss for the first three months of 2021 were:


(in millions) Details about AOCL Components	Amount Reclassified from AOCL			Affected Line Item in the Statement where Net Income is Presented
Defined benefit pension plan items:
Amortization of prior service credit	$	0.1		See (1) below
Amortization of actuarial net losses		0.7		See (1) below

		0.8		Total before tax
		(0.1	)	Income tax expense

Total reclassifications	$	0.7		Net of tax

Reclassifications out of accumulated other comprehensive loss for the first quarter of 2020 were:


(in millions) Details about AOCL Components	Amount Reclassified from AOCL			Affected Line Item in the Statement where Net Income is Presented
Defined benefit pension plan items:
Amortization of prior service credit	$	(0.2	)	See (¹) below
Amortization of actuarial net losses		0.2		See (¹) below

		0.0		Total before tax
		0.0		Income tax expense

Total reclassifications	$	0.0		Net of tax

(1)

These items are included in other income and expense. See Note 6 of the Notes to the Condensed Consolidated Financial Statements for additional information.

Changes in Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss for the first three months of 2021, net of tax, were:


(in millions)	Defined Benefit Pension Plan Items			Cumulative Translation Adjustments			Total
Balance at December 31, 202 0	$	(15.9	)	$	(41.4	)	$	(57.3	)

Other comprehensive income before reclassifications		0.0			(11.3	)		(11.3	)
Amounts reclassified from AOCL		0.7			0.0			0.7

Total other comprehensive income		0.7			(11.3	)		(10.6	)

Balance at March 31, 2021	$	(15.2	)	$	(52.7	)	$	(67.9	)

Changes in accumulated other comprehensive loss for the first three months of 2020, net of tax, were:


(in millions)	Defined Benefit Pension Plan Items			Cumulative Translation Adjustments			Total
Balance at December 31, 2019	$	(9.3	)	$	(65.1	)	$	(74.4	)

Other comprehensive income before reclassification s		0.0			(7.9	)		(7.9	)
Amounts reclassified from AOCL		0.0			0.0			0.0

Total other comprehensive income		0.0			(7.9	)		(7.9	)

Balance at March 31, 2020	$	(9.3	)	$	(73.0	)	$	(82.3	)

Segment Reporting - Segment Reporting (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Net sales	$ 339.6	$ 372.3
Gross profit/(loss)	100.8	113.9
Operating income/(loss)	28.2	40.9
Operating Segments [Member] \| Fuel Specialties [Member]
Segment Reporting Information [Line Items]
Net sales	139.3	147.0
Gross profit/(loss)	44.9	51.2
Operating income/(loss)	23.8	32.1
Operating Segments [Member] \| Fuel Specialties [Member] \| Refinery and Performance [Member]
Segment Reporting Information [Line Items]
Net sales	99.3	108.6
Operating Segments [Member] \| Fuel Specialties [Member] \| Other [Member]
Segment Reporting Information [Line Items]
Net sales	40.0	38.4
Operating Segments [Member] \| Performance Chemicals [Member]
Segment Reporting Information [Line Items]
Net sales	125.9	113.1
Gross profit/(loss)	31.4	27.6
Operating income/(loss)	18.3	15.6
Operating Segments [Member] \| Performance Chemicals [Member] \| Personal Care [Member]
Segment Reporting Information [Line Items]
Net sales	68.2	63.0
Operating Segments [Member] \| Performance Chemicals [Member] \| Home Care [Member]
Segment Reporting Information [Line Items]
Net sales	23.0	21.6
Operating Segments [Member] \| Performance Chemicals [Member] \| Other [Member]
Segment Reporting Information [Line Items]
Net sales	34.7	28.5
Operating Segments [Member] \| Oilfield Services [Member]
Segment Reporting Information [Line Items]
Net sales	74.4	112.2
Gross profit/(loss)	24.5	36.2
Operating income/(loss)	1.2	7.2
Operating Segments [Member] \| Octane Additives [Member]
Segment Reporting Information [Line Items]
Gross profit/(loss)	0.0	(1.1)
Operating income/(loss)	0.0	(1.2)
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Corporate costs	$ (15.1)	$ (12.8)

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Average number of anti-dilutive options excluded from the calculation of diluted earnings per share	15,144	17,636

Earnings Per Share - Summary of Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator (in millions):
Net income available to common stockholders	$ 23.4	$ 33.1
Denominator (in thousands):
Weighted average common shares outstanding	24,601	24,529
Dilutive effect of stock options and awards	239	213
Denominator for diluted earnings per share	24,840	24,742
Net income per share, basic:	$ 0.95	$ 1.35
Net income per share, diluted:	$ 0.94	$ 1.34

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

+ Details

Goodwill - Summary of Goodwill (Detail) $ in Millions	3 Months Ended
Goodwill - Summary of Goodwill (Detail) $ in Millions	Mar. 31, 2021 USD ($)
Goodwill [Line Items]
Gross cost, beginning balance	$ 371.2
Exchange effect	(4.0)
Gross cost, ending balance	$ 367.2

Other Intangible Assets - Summary of Other Intangible Assets (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Gross cost at January 1	$ 298.9
Exchange effect	(2.0)
Gross cost at March 31	296.9
Accumulated amortization at January 1	(223.6)
Amortization expense	(4.0)	$ (5.8)
Exchange effect	0.9
Accumulated amortization at March 31	(226.7)
Net book amount at March 31	$ 70.2		$ 75.3

Other Intangible Assets - Schedule of Amortization Expense (Detail) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross cost at January 1	$ 296.9	$ 298.9
Other Intangible Assets, Net	70.2	75.3
Product Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Gross cost at January 1	5.3	6.3
Brand Names [Member]
Finite-Lived Intangible Assets [Line Items]
Gross cost at January 1	2.2	2.3
Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross cost at January 1	19.2	19.8
Customer and Distributor Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross cost at January 1	41.2	44.2
Internally Developed Software [Member]
Finite-Lived Intangible Assets [Line Items]
Gross cost at January 1	$ 2.3	$ 2.7

Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 4.0	$ 5.8

Pension and Post-Employment Benefits - Additional Information (Detail) - Selling, General and Administrative Expenses [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
United Kingdom Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Net service cost, total	$ 0.4	$ 0.3
Germany [Member]
Defined Benefit Plan Disclosure [Line Items]
Net service cost, total	0.0	$ 0.0
Europe [Member]
Defined Benefit Plan Disclosure [Line Items]
Post-employment obligations European businesses	$ 5.1		$ 5.3

Pension and Post-Employment Benefits - Plan Net Pension Credit (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
United Kingdom Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost on projected benefit obligation	$ (1.9)	$ (2.8)
Expected return on plan assets	3.9	4.5
Amortization of prior service (cost)/credit	(0.1)	0.2
Amortization of actuarial net losses	(0.4)	(0.2)
Net pension credit total	1.5	1.7
Germany [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost on projected benefit obligation	(0.0)	(0.0)
Amortization of actuarial net losses	(0.3)	(0.2)
Net pension credit total	$ (0.3)	$ (0.2)

Income Taxes - Roll-forward of Unrecognized Tax Benefits and Associated Accrued Interest and Penalties (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Income Tax Contingency [Line Items]
Opening balance at January 1	$ 16.0
Net change for tax positions of prior periods	0.0
Closing balance at 31 December	16.0
Current	0.0
Non-current	16.0	$ 16.0
Interest and Penalties [Member]
Income Tax Contingency [Line Items]
Opening balance at January 1	2.4
Net change for tax positions of prior periods	0.1
Closing balance at 31 December	2.5
Current	0.0
Non-current	2.5
Unrecognized Tax Benefits [Member]
Income Tax Contingency [Line Items]
Opening balance at January 1	13.6
Net change for tax positions of prior periods	(0.1)
Closing balance at 31 December	13.5
Current	0.0
Non-current	$ 13.5

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Income Tax Contingency [Line Items]
Unrecognized tax benefits would impact effective tax rate if recognized	$ 16.0
Unrecognized tax benefit	$ 16.0	$ 16.0
Income tax examination, description	The Company and its U.S. subsidiaries remain open to examination by the IRS for years 2017 onwards under the statute of limitations. The Company’s subsidiaries in foreign tax jurisdictions are open to examination including Germany (2016 onwards), Switzerland (2016 onwards), Spain (2016 onwards), France (2018 onwards) and the United Kingdom (2018 onwards).
Increase to income tax expense	$ 0.1
Foreign exchange movements	0.1
Italian Tax Authorities [Member]
Income Tax Contingency [Line Items]
Unrecognized tax benefit	3.3
United States [Member]
Income Tax Contingency [Line Items]
Unrecognized tax benefit	$ 12.5
Non-US [Member] \| Earliest Tax Year [Member]
Income Tax Contingency [Line Items]
Open tax year	2011
Non-US [Member] \| Latest Tax Year [Member]
Income Tax Contingency [Line Items]
Open tax year	2014
Non-US [Member] \| Historical Impairment Of Subsidiaries [Member]
Income Tax Contingency [Line Items]
Other Non Significant Items Inclusive Of Interest And Penalties	$ 0.2

Long-Term Debt - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Sep. 26, 2019
Debt Instrument [Line Items]
Deferred finance costs, net	$ 1.3
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Due date of revolving credit	Sep. 25, 2024
Line of Credit Facility, Maximum Borrowing Capacity		$ 250.0
Revolving Credit Facility [Member] \| Accordion Feature [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 125.0

Plant Closure Provisions - Movements in Plant Closure and Restructuring Provisions (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Beginning Balance	$ 58.5
Charge for the period	1.0
Utilized in the period	(1.2)
Exchange effect	(0.4)
Ending Balance	57.9
Due within one year	(6.6)	$ (6.6)
Due after one year	$ 51.3	$ 51.9

Plant Closure Provisions - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Remediation [Member]
Restructuring Cost and Reserve [Line Items]
Accretion expense recognized	$ 1.0	$ 1.1

Fair Value Measurements - Carrying Amount and Fair Values of the Company's Assets and Liabilities Measured on a Recurring Basis (Detail) - Recurring [Member] - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Carrying Amount [Member]
Non-derivatives:
Cash and cash equivalents	$ 117.0	$ 105.3
Non-derivatives:
Finance leases (including current portion)	0.4	0.6
Carrying Amount [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Foreign Currency Forward Exchange Contracts [Member]
Derivatives (Level 1 measurement):
Foreign currency forward exchange contracts	1.9	0.0
Derivatives (Level 1 measurement):
Foreign currency forward exchange contracts	0.0	0.5
Carrying Amount [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Non-financial liabilities (Level 3 measurement):
Stock equivalent units	20.8	17.2
Fair Value [Member]
Non-derivatives:
Cash and cash equivalents	117.0	105.3
Non-derivatives:
Finance leases (including current portion)	0.4	0.6
Fair Value [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] \| Foreign Currency Forward Exchange Contracts [Member]
Derivatives (Level 1 measurement):
Foreign currency forward exchange contracts	1.9	0.0
Derivatives (Level 1 measurement):
Foreign currency forward exchange contracts	0.0	0.5
Fair Value [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Non-financial liabilities (Level 3 measurement):
Stock equivalent units	$ 20.8	$ 17.2

Derivative Instruments and Risk Management - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Not Designated as Hedging Instrument [Member] \| Foreign Currency Forward Exchange Contracts [Member] \| Other net income/(expense) [Member]
Derivative [Line Items]
Amount of gain/(loss) recognized in income	$ 1.3	$ 1.9

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Other Commitments [Line Items]
Guarantees	$ 8.1	$ 9.9
Maximum [Member]
Other Commitments [Line Items]
Fixed maturity guarantee remaining term	3 years

Stock-Based Compensation Plans - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option compensation	$ 1.6	$ 1.2
Stock Options Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number exercisable and fully vested	115,847
Fully vested stock options with performance conditions attached	77,979
Stock option compensation	$ 1.6	1.2
Total intrinsic value exercised	0.6	4.2
Total compensation cost related to non-vested stock options not yet recognized	$ 12.1
Expected compensation cost recognized over the weighted-average period	2 years 2 months 19 days
Stock Equivalent Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fully vested stock options with performance conditions attached	40,464
Total intrinsic value exercised	$ 0.3	5.6
Expected compensation cost recognized over the weighted-average period	2 years 3 months 3 days
Number of exercisable SEUs	52,279
Compensation cost	$ 4.4	$ 6.0

Stock-Based Compensation Plans - Summary of Transactions of the Company's Stock Option Plans (Detail) - Stock Options Plan [Member]	3 Months Ended
	Mar. 31, 2021 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Number of Options, Beginning balance \| shares	442,893
Exercised, Number of Options \| shares	(18,493)
Forfeited, Number of Options \| shares	(1,307)
Outstanding, Number of Options, Ending balance \| shares	503,477
Outstanding, Weighted Average Exercise Price, Beginning balance	$ 32.49
Exercised, Weighted Average Exercise Price	27.24
Forfeited, Weighted Average Exercise Price	50.54
Outstanding, Weighted Average Exercise Price, Ending balance	29.42
Outstanding, Weighted Average Grant-Date Fair Value	45.31
Exercised, Weighted Average Grant-Date Fair Value	37.03
Forfeited, Weighted Average Grant-Date Fair Value	32.61
Outstanding, Weighted Average Grant-Date Fair Value	$ 51.97
Discount [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Number of Options \| shares	69,996
Granted, Weighted Average Exercise Price	$ 0.00
Granted, Weighted Average Grant-Date Fair Value	$ 92.32
Market Value [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, Number of Options \| shares	10,388
Granted, Weighted Average Exercise Price	$ 99.85
Granted, Weighted Average Grant-Date Fair Value	$ 32.71

Stock-Based Compensation Plans - Summarizes Transactions of SEUs (Detail) - Stock Equivalent Units [Member]	3 Months Ended
	Mar. 31, 2021 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding, Number of SEUs, Beginning balance \| shares	390,164
Granted at discount, Number of SEUs \| shares	87,451
Granted at market value, Number of SEUs \| shares	3,803
Exercised, Number of SEUs \| shares	(6,275)
Forfeited, Number of SEUs \| shares	(12,400)
Outstanding, Number of SEUs, Ending balance \| shares	462,743
Outstanding, Weighted Average Exercise Price, Beginning balance	$ 4.35
Granted at discount, Weighted Average Exercise Price	0.00
Granted at market value, Weighted Average Exercise Price	99.85
Exercised, Weighted Average Exercise Price	1.36
Forfeited, Weighted Average Exercise Price	0.00
Outstanding, Weighted Average Exercise Price, Ending balance	4.47
Outstanding, Weighted Average Grant-Date Fair Value	63.96
Granted at discount, Weighted Average Grant-Date Fair Value	88.94
Granted at market value, Weighted Average Grant-Date Fair Value	32.71
Exercised, Weighted Average Grant-Date Fair Value	42.82
Forfeited, Weighted Average Grant-Date Fair Value	67.33
Outstanding, Weighted Average Grant-Date Fair Value	$ 68.62

Reclassifications out of Accumulated Other Comprehensive Loss - Summary of Reclassifications out of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications	$ (0.7)	$ 0.0
Defined Benefit Pension Plan Items [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications	(0.7)	0.0
Reclassification Out of Accumulated Other Comprehensive Income/(Loss) [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	0.8	0.0
Income tax expense	(0.1)	(0.0)
Total reclassifications	0.7	0.0
Reclassification Out of Accumulated Other Comprehensive Income/(Loss) [Member] \| Defined Benefit Pension Plan Items [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of prior service credit	0.1	(0.2)
Amortization of actuarial net losses	$ 0.7	$ 0.2

Reclassifications out of Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ 944.4
Other comprehensive income before reclassifications	(11.3)	$ (7.9)
Amounts reclassified from AOCL	0.7	(0.0)
Total other comprehensive loss	(10.6)	(7.9)
Ending Balance	958.6
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(57.3)	(74.4)
Ending Balance	(67.9)	(82.3)
Defined Benefit Pension Plan Items [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(15.9)	(9.3)
Other comprehensive income before reclassifications	0.0	0.0
Amounts reclassified from AOCL	0.7	(0.0)
Total other comprehensive loss	0.7	0.0
Ending Balance	(15.2)	(9.3)
Foreign Currency Translation Items [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(41.4)	(65.1)
Other comprehensive income before reclassifications	(11.3)	(7.9)
Amounts reclassified from AOCL	(0.0)	(0.0)
Total other comprehensive loss	(11.3)	(7.9)
Ending Balance	$ (52.7)	$ (73.0)

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Smith, Gambrell & Russell, LLP [Member]
Related Party Transaction [Line Items]
Fees payable to Smith, Gambrell & Russell	$ 0.1	$ 0.1
Amount due to related party	0.0		$ 0.1
European Metal Recycling Limited [Member]
Related Party Transaction [Line Items]
Amount due to related party	0.0		0.0
Tendering process to select best buyer of scrap metal	0.1	0.1
Advan Six [Member]
Related Party Transaction [Line Items]
Amount due to related party	0.0		$ 0.0
Tendering process to select best buyer of scrap metal	$ 0.0	$ 0.1