NewMarket (NEU) 10-Q 28 Oct 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information	9 Months Ended
	Sep. 30, 2015shares
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Entity Registrant Name	NEWMARKET CORP
Entity Central Index Key	1,282,637
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	11,986,215

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Net sales	$ 540,933	$ 589,667	$ 1,661,208	$ 1,786,527
Cost of goods sold	366,162	424,448	1,135,457	1,278,632
Gross profit	174,771	165,219	525,751	507,895
Selling, general, and administrative expenses	38,298	41,376	120,762	121,837
Research, development, and testing expenses	38,849	35,799	118,652	103,373
Operating profit	97,624	88,044	286,337	282,685
Interest and financing expenses, net	3,538	4,168	10,936	12,678
Other income (expense), net	(3,400)	385	(4,042)	(4,034)
Income before income tax expense	90,686	84,261	271,359	265,973
Income tax expense	28,677	27,348	86,670	84,773
Net income	$ 62,009	$ 56,913	$ 184,689	$ 181,200
Earnings per share - basic and diluted (in dollars per share)	$ 5.08	$ 4.53	$ 14.94	$ 14.20
Cash dividends declared per share (in dollars per share)	$ 1.40	$ 1.10	$ 4.20	$ 3.30

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 62,009	$ 56,913	$ 184,689	$ 181,200
Pension plans and other postretirement benefits:
Prior service credit (cost) arising during the period, net of income tax expense (benefit) of $14,013 in third quarter and nine months 2015	22,009	0	22,009	0
Amortization of prior service cost (credit) included in net periodic benefit cost, net of income tax expense (benefit) of $(93) in third quarter 2015, $5 in third quarter 2014, $(85) in nine months 2015 and $13 in nine months 2014	(157)	(3)	(163)	(9)
Actuarial net gain (loss) arising during the period, net of income tax expense (benefit) of $(1,141) in third quarter 2015, $(504) in third quarter 2014, $(1,141) in nine months 2015 and $(537) in nine months 2014	(1,816)	(501)	(1,816)	(591)
Amortization of actuarial net loss (gain) included in net periodic benefit cost, net of income tax expense (benefit) of $754 in third quarter 2015, $352 in third quarter 2014, $2,288 in nine months 2015 and $1,119 in nine months 2014	1,343	649	4,055	2,061
Settlements and curtailments, net of income tax expense (benefit) of $346 in third quarter 2014 and $608 in nine months 2014	0	727	0	1,126
Amortization of transition obligation (asset) included in net periodic benefit cost, net of income tax expense (benefit) of $1 in nine months 2014	0	0	0	4
Total pension plans and other postretirement benefits	21,379	872	24,085	2,591
Foreign currency translation adjustments, net of income tax expense (benefit) of $291 in third quarter 2015, $(1,261) in third quarter 2014, $(1,075) in nine months 2015 and $(955) in nine months 2014	(15,647)	(18,997)	(22,791)	(9,437)
Other comprehensive income (loss)	5,732	(18,125)	1,294	(6,846)
Comprehensive income	$ 67,741	$ 38,788	$ 185,983	$ 174,354

Consolidated Statements Of Com4

Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Prior service credit (cost) arising during the period, income tax expense (benefit)	$ 14,013		$ 14,013
Amortization of prior service cost (credit) included in net periodic benefit cost, income tax expense (benefit)	(93)	$ 5	(85)	$ 13
Actuarial net gain (loss) arising during the period, income tax expense (benefit)	(1,141)	(504)	(1,141)	(537)
Amortization of actuarial net loss (gain) included in net periodic benefit cost, income tax expense (benefit)	754	352	2,288	1,119
Settlements and curtailments, income tax expense (benefit)		346		608
Amortization of transition obligation (asset) included in net periodic benefit cost, income tax expense (benefit)				1
Foreign currency translation adjustments, income tax expense (benefit)	$ 291	$ (1,261)	$ (1,075)	$ (955)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 110,327	$ 103,003
Trade and other accounts receivable, less allowance for doubtful accounts	311,087	302,803
Inventories:
Finished goods and work-in-process	291,574	292,214
Raw materials	39,057	46,673
Stores, supplies, and other	9,863	9,533
Total inventories	340,494	348,420
Deferred income taxes	6,897	7,837
Prepaid expenses and other current assets	35,236	35,128
Total current assets	804,041	797,191
Property, plant, and equipment, at cost	1,090,986	1,016,868
Less accumulated depreciation and amortization	720,555	709,009
Net property, plant, and equipment	370,431	307,859
Prepaid pension cost	21,009	16,082
Deferred income taxes	37,394	48,499
Intangibles (net of amortization) and goodwill	12,411	16,859
Deferred charges and other assets	43,694	45,435
Total assets	1,288,980	1,231,925
Current liabilities:
Accounts payable	126,266	137,688
Accrued expenses	94,082	86,539
Dividends payable	15,396	15,721
Income taxes payable	11,553	6,462
Other current liabilities	10,460	13,264
Total current liabilities	257,757	259,674
Long-term debt	507,571	363,526
Other noncurrent liabilities	147,471	187,684
Total liabilities	$ 912,799	$ 810,884
Commitments and contingencies
Shareholders’ equity:
Common stock and paid-in capital (without par value; authorized shares - 80,000,000; issued and outstanding shares - 11,986,215 at September 30, 2015 and 12,446,365 at December 31, 2014)	$ 0	$ 0
Accumulated other comprehensive loss	(137,866)	(139,160)
Retained earnings	514,047	560,201
Total shareholders' equity	376,181	421,041
Total liabilities and shareholders’ equity	$ 1,288,980	$ 1,231,925

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common stock, no par value
Common stock, authorized shares	80,000,000	80,000,000
Common stock, issued shares	11,986,215	12,446,365
Common stock, outstanding shares	11,986,215	12,446,365

Consolidated Statements Of Shar

Consolidated Statements Of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock and Paid-in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings [Member]
Balance (in shares) at Dec. 31, 2013		13,099,356
Balance at Dec. 31, 2013	$ 572,448	$ 0	$ (60,086)	$ 632,534
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	181,200			181,200
Other comprehensive income (loss)	(6,846)		(6,846)
Cash dividends	(41,962)			(41,962)
Repurchases of common stock (in shares)		(568,610)
Repurchases of common stock	(212,033)	$ (1,702)		(210,331)
Stock-based compensation (in shares)		299
Stock-based compensation	1,710	$ 1,702		8
Balance (in shares) at Sep. 30, 2014		12,531,045
Balance at Sep. 30, 2014	$ 494,517	$ 0	(66,932)	561,449
Balance (in shares) at Dec. 31, 2014	12,446,365	12,446,365
Balance at Dec. 31, 2014	$ 421,041	$ 0	(139,160)	560,201
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	184,689			184,689
Other comprehensive income (loss)	1,294		1,294
Cash dividends	(51,605)			(51,605)
Repurchases of common stock (in shares)		(456,483)
Repurchases of common stock	(180,609)	$ (2,541)		(178,068)
Tax benefit from stock-based compensation	374	$ 374
Tax withholdings related to stock-based compensation (in shares)		(3,135)
Tax withholdings related to stock-based compensation	(1,199)	$ (3)		(1,196)
Stock-based compensation (in shares)		(532)
Stock-based compensation	$ 2,196	$ 2,170		26
Balance (in shares) at Sep. 30, 2015	11,986,215	11,986,215
Balance at Sep. 30, 2015	$ 376,181	$ 0	$ (137,866)	$ 514,047

Consolidated Statements Of Sha8

Consolidated Statements Of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 1.40	$ 1.10	$ 4.20	$ 3.30

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Statement of Cash Flows [Abstract]
Cash and cash equivalents at beginning of year	$ 103,003	$ 238,703
Cash flows from operating activities:
Net income	184,689	181,200
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation and amortization	31,378	31,244
Noncash pension and postretirement expense	16,946	12,607
Deferred income tax (benefit) expense	(1,472)	5,623
Unrealized gain on derivative instruments, net	(583)	(614)
Working capital changes	(27,858)	(58,699)
Cash pension and postretirement contributions	(20,007)	(17,449)
Proceeds from legal settlements	0	5,150
Other, net	5,255	2,616
Cash provided from (used in) operating activities	188,348	161,678
Cash flows from investing activities:
Capital expenditures	(84,206)	(38,949)
Deposits for interest rate swap	(15,136)	(5,867)
Return of deposits for interest rate swap	15,660	6,600
Other, net	(4,947)	(5,004)
Cash provided from (used in) investing activities	(88,629)	(43,220)
Cash flows from financing activities:
Net borrowings under revolving credit facility	144,000	35,000
Dividends paid	(51,605)	(41,962)
Repurchases of common stock	(180,609)	(209,336)
Other, net	804	4,432
Cash provided from (used in) financing activities	(87,410)	(211,866)
Effect of foreign exchange on cash and cash equivalents	(4,985)	(3,759)
Increase (decrease) in cash and cash equivalents	7,324	(97,167)
Cash and cash equivalents at end of period	110,327	141,536
Supplemental disclosure of non-cash transactions:
Additions to property, plant, and equipment included in current liabilities	$ 10,357	$ 3,754

Financial Statement Presentatio

Financial Statement Presentation	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Financial Statement Presentation	Financial Statement Presentation In the opinion of management, the accompanying consolidated financial statements of NewMarket Corporation and its subsidiaries contain all necessary adjustments for the fair statement of, in all material respects, our consolidated financial position as of September 30, 2015 and December 31, 2014 , our consolidated results of operations and comprehensive income for the third quarter and nine months ended September 30, 2015 and September 30, 2014 , and our changes in shareholders' equity and cash flows for the nine months ended September 30, 2015 and September 30, 2014 . All adjustments are of a normal, recurring nature, unless otherwise disclosed. These financial statements should be read in conjunction with the consolidated financial statements and related notes included in the NewMarket Corporation Annual Report on Form 10-K for the year ended December 31, 2014 ( 2014 Annual Report), as filed with the Securities and Exchange Commission. The results of operations for the three and nine month periods ended September 30, 2015 are not necessarily indicative of the results to be expected for the full year ending December 31, 2015 . The December 31, 2014 condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. Unless the context otherwise indicates, all references to “we,” “us,” “our,” the “company,” and “NewMarket” are to NewMarket Corporation and its consolidated subsidiaries. Certain reclassifications have been made to the accompanying consolidated financial statements to conform to the current presentation.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Segment Information	Segment Information The tables below show our consolidated segment results. The “All other” category includes the operations of the tetraethyl lead (TEL) business, as well as certain contract manufacturing performed by Ethyl Corporation (Ethyl). Consolidated Revenue by Segment Third Quarter Ended Nine Months Ended (in thousands) 2015 2014 2015 2014 Petroleum additives Lubricant additives $ 439,808 $ 483,574 $ 1,360,602 $ 1,470,344 Fuel additives 96,376 102,044 287,710 306,824 Total 536,184 585,618 1,648,312 1,777,168 All other 4,749 4,049 12,896 9,359 Consolidated revenue $ 540,933 $ 589,667 $ 1,661,208 $ 1,786,527 Segment Operating Profit Third Quarter Ended Nine Months Ended (in thousands) 2015 2014 2015 2014 Petroleum additives $ 100,515 $ 94,310 $ 299,592 $ 299,578 All other 1,207 399 3,522 1,792 Segment operating profit 101,722 94,709 303,114 301,370 Corporate, general, and administrative expenses (4,196 ) (6,320 ) (16,751 ) (18,448 ) Interest and financing expenses, net (3,538 ) (4,168 ) (10,936 ) (12,678 ) Gain (loss) on interest rate swap agreement (a) (3,479 ) 113 (4,365 ) (4,390 ) Other income (expense), net 177 (73 ) 297 119 Income before income tax expense $ 90,686 $ 84,261 $ 271,359 $ 265,973 (a) The gain (loss) on interest rate swap agreement represents the change, since the beginning of the reporting period, in the fair value of an interest rate swap which we entered into on June 25, 2009. We are not using hedge accounting to record the interest rate swap and, accordingly, any change in the fair value is immediately recognized in earnings.

Pension Plans and Other Postret

Pension Plans and Other Postretirement Benefits	9 Months Ended
	Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Pension Plans and Other Postretirement Benefits	Pension Plans and Other Postretirement Benefits The table below shows cash contributions made during the nine months ended September 30, 2015 , as well as the remaining cash contributions we expect to make during the year ending December 31, 2015 , for our domestic and foreign pension plans and domestic postretirement benefit plan. (in thousands) Actual Cash Contributions for Nine Months Ended September 30, 2015 Expected Remaining Cash Contributions for Year Ending December 31, 2015 Domestic plans Pension benefits $ 14,491 $ 4,830 Postretirement benefits 977 326 Foreign plans Pension benefits 4,539 1,486 The tables below present information on net periodic benefit cost (income) for our pension and postretirement benefit plans. Domestic Pension Benefits Postretirement Benefits Third Quarter Ended September 30, (in thousands) 2015 2014 2015 2014 Service cost $ 3,296 $ 2,430 $ 652 $ 577 Interest cost 2,987 2,727 626 672 Expected return on plan assets (5,167 ) (4,482 ) (320 ) (327 ) Amortization of prior service cost (credit) 25 25 (252 ) 1 Amortization of actuarial net loss (gain) 1,698 914 0 (181 ) Net periodic benefit cost (income) $ 2,839 $ 1,614 $ 706 $ 742 Domestic Pension Benefits Postretirement Benefits Nine Months Ended September 30, (in thousands) 2015 2014 2015 2014 Service cost $ 9,776 $ 7,205 $ 2,074 $ 1,387 Interest cost 8,952 8,202 2,139 2,054 Expected return on plan assets (15,350 ) (13,143 ) (965 ) (983 ) Amortization of prior service cost (credit) 75 75 (251 ) 6 Amortization of actuarial net loss (gain) 5,168 2,869 0 (534 ) Net periodic benefit cost (income) $ 8,621 $ 5,208 $ 2,997 $ 1,930 Foreign Pension Benefits Postretirement Benefits Third Quarter Ended September 30, (in thousands) 2015 2014 2015 2014 Service cost $ 1,807 $ 1,494 $ 0 $ 0 Interest cost 1,198 1,459 0 0 Expected return on plan assets (1,592 ) (1,950 ) 0 0 Amortization of prior service credit (24 ) (25 ) 0 0 Amortization of actuarial net loss 386 273 0 0 Settlements and curtailments 0 1,817 0 0 Net periodic benefit cost (income) $ 1,775 $ 3,068 $ 0 $ 0 Foreign Pension Benefits Postretirement Benefits Nine Months Ended September 30, (in thousands) 2015 2014 2015 2014 Service cost $ 5,657 $ 4,495 $ 0 $ 3 Interest cost 3,717 4,583 0 41 Expected return on plan assets (5,145 ) (6,127 ) 0 0 Amortization of prior service credit (72 ) (77 ) 0 0 Amortization of transition obligation 0 0 0 5 Amortization of actuarial net loss 1,171 843 0 8 Settlements and curtailments 0 1,817 0 (122 ) Net periodic benefit cost (income) $ 5,328 $ 5,534 $ 0 $ (65 ) The 2014 settlements and curtailments amounts in the tables above reflect the termination of the Canadian hourly pension plan and the Canadian postretirement benefit plan and the curtailment of the Canadian salaried pension plan. During the third quarter of 2015, we changed our domestic postretirement plan resulting in a negative plan amendment. As a result, the domestic postretirement plan liabilities were remeasured at September 1, 2015 resulting in a non-cash improvement in the funded position. The adjustment to accumulated other comprehensive loss is reflected in prior service cost and will be amortized into expense.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share We had 19,441 shares of nonvested restricted stock at September 30, 2015 and 19,430 shares of nonvested restricted stock at September 30, 2014 that were excluded from the calculation of diluted earnings per share, as their effect on earnings per share would be anti-dilutive. The nonvested restricted stock is considered a participating security since the restricted stock contains nonforfeitable rights to dividends. As such, we use the two-class method to compute basic and diluted earnings per share for all periods presented since this method yielded a more dilutive result than the treasury-stock method. The following table illustrates the earnings allocation method utilized in the calculation of basic and diluted earnings per share. Third Quarter Ended Nine Months Ended (in thousands, except per-share amounts) 2015 2014 2015 2014 Earnings per share numerator: Net income attributable to common shareholders before allocation of earnings to participating securities $ 62,009 $ 56,913 $ 184,689 $ 181,200 Earnings allocated to participating securities 126 81 395 273 Net income attributable to common shareholders after allocation of earnings to participating securities $ 61,883 $ 56,832 $ 184,294 $ 180,927 Earnings per share denominator: Weighted-average number of shares of common stock outstanding - basic and diluted 12,187 12,549 12,336 12,745 Earnings per share - basic and diluted $ 5.08 $ 4.53 $ 14.94 $ 14.20

Intangibles (Net of Amortizatio

Intangibles (Net of Amortization) and Goodwill	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangibles (Net of Amortization) and Goodwill	Intangibles (Net of Amortization) and Goodwill The net carrying amount of intangibles and goodwill was $12 million at September 30, 2015 and $17 million at December 31, 2014 . The gross carrying amount and accumulated amortization of each type of intangible asset and goodwill are presented in the table below. September 30, 2015 December 31, 2014 (in thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortizing intangible assets Formulas and technology $ 88,786 $ 85,658 $ 88,824 $ 82,050 Contracts 4,476 3,991 4,476 3,655 Customer bases 6,982 3,555 6,994 3,336 Trademarks and trade names 1,556 885 1,571 769 Goodwill 4,700 4,804 $ 106,500 $ 94,089 $ 106,669 $ 89,810 All of the intangibles relate to the petroleum additives segment. The change in the gross carrying amount between 2014 and 2015 is due to foreign currency fluctuations. There is no accumulated goodwill impairment. Amortization expense was (in thousands): Third quarter ended September 30, 2015 $ 1,428 Nine months ended September 30, 2015 4,279 Third quarter ended September 30, 2014 1,576 Nine months ended September 30, 2014 4,727 Estimated amortization expense for the remainder of 2015 , as well as annual amortization expense related to our intangible assets for the next five years, is expected to be (in thousands): 2015 $ 1,431 2016 1,891 2017 730 2018 700 2019 678 2020 319 We amortize contracts over 10 years; customer bases over 20 years; formulas and technology over 10 to 20 years; and trademarks and trade names over 10 years.

Long-term Debt

Long-term Debt	9 Months Ended
	Sep. 30, 2015
Long-term Debt and Capital Lease Obligations [Abstract]
Long-term Debt	Long-term Debt (in thousands) September 30, December 31, Senior notes - 4.10% due 2022 $ 349,571 $ 349,526 Revolving credit facility 158,000 14,000 $ 507,571 $ 363,526 The outstanding senior notes have an aggregate principal amount of $350 million and are registered under the Securities Act of 1933. The following table provides information related to the unused portion of our revolving credit facility: (in thousands) September 30, December 31, Maximum borrowing capacity under the revolving credit facility $ 650,000 $ 650,000 Outstanding borrowings under the revolving credit facility 158,000 14,000 Outstanding letters of credit 2,783 3,271 Unused portion of revolving credit facility $ 489,217 $ 632,729 The average interest rate for borrowings under our revolving credit facility was 2.1% during the first nine months of 2015 and 2.9% during 2014 . We were in compliance with all covenants under our debt agreements at September 30, 2015 and at December 31, 2014 .

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Information on certain commitments and contingencies follows. Legal Matters We are involved in legal proceedings that are incidental to our business and include administrative or judicial actions seeking remediation under environmental laws, such as the federal Comprehensive Environmental Response, Compensation and Liability Act, commonly known as CERCLA or Superfund. Some of these legal proceedings relate to environmental matters and involve governmental authorities. For further information, see “Environmental” below. While it is not possible to predict or determine with certainty the outcome of any legal proceeding, we believe the outcome of any of these proceedings, or all of them combined, will not result in a material adverse effect on our consolidated results of operations, financial condition, or cash flows. In late 2013, Afton Chemical Corporation (Afton) initiated a voluntary self-audit of its compliance with certain sections of the Toxic Substances Control Act (TSCA) under the Environmental Protection Agency's (EPA) audit policy (Audit Policy). If any potential TSCA violations are discovered during the audit, we would voluntarily disclose them to the EPA under the Audit Policy. In August 2014, the EPA TSCA staff began its own TSCA inspection of both Afton and Ethyl. While it is not possible to predict or determine with certainty the outcome, we do not believe that any findings identified as a result of our audit or the EPA’s TSCA inspection will have a material adverse effect on our consolidated results of operations, financial condition, or cash flows. As we previously disclosed, the United States Department of Justice advised us that it was conducting a review of certain of our foreign business activities in relation to compliance with relevant U.S. economic sanctions programs and anti-corruption laws, as well as certain historical conduct in the domestic U.S. market, and has requested certain information in connection with such review. We have cooperated with the investigation. In connection with such cooperation, we voluntarily provided certain information and have conducted an internal review for that purpose. Environmental We are involved in environmental proceedings and potential proceedings relating to soil and groundwater contamination, disposal of hazardous waste, and other environmental matters at several of our current or former facilities, or at third-party sites where we have been designated as a potentially responsible party (PRP). While we believe we are currently adequately accrued for known environmental issues, it is possible that unexpected future costs could have a significant impact on our financial position, results of operations, and cash flows. Our total accruals for environmental remediation, dismantling, and decontamination were approximately $18 million at both September 30, 2015 and December 31, 2014 . Our more significant environmental sites include a former TEL plant site in Louisiana (the Louisiana site) and a former Houston, Texas plant site (the Texas site). Together, the amounts accrued on a discounted basis related to these sites represented approximately $11 million of the total accrual at both September 30, 2015 and December 31, 2014 , using discount rates ranging from 3% to 9% . Of the total accrued for these two sites, the amount related to remediation of groundwater and soil was $5 million for the Louisiana site at both September 30, 2015 and December 31, 2014 . The amount related to remediation of groundwater and soil for the Texas site was $5 million at September 30, 2015 and $6 million at December 31, 2014 . The aggregate undiscounted amount for these sites was $15 million at both September 30, 2015 and December 31, 2014 . In 2000, the EPA named us as a PRP under Superfund law for the clean-up of soil and groundwater contamination at the five grouped disposal sites known as "Sauget Area 2 Sites" in Sauget, Illinois. Without admitting any fact, responsibility, fault, or liability in connection with this site, we are participating with other PRPs in site investigations and feasibility studies. In December 2013, the EPA issued its Record of Decision confirming its remedies for the selected Sauget Area 2 sites. We have accrued our estimated proportional share of the remedial costs and expenses addressed in the Record of Decision. We do not believe there is any additional information available as a basis for revision of the liability that we have established at September 30, 2015 . The amount accrued for this site is not material.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities We are exposed to certain risks arising from both our business operations and economic conditions. We primarily manage our exposures to a wide variety of business and operational risks through management of our core business activities. We manage certain economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of our debt funding, as well as through the use of derivative financial instruments. Specifically, we have entered into, and may in the future enter into, interest rate swaps to manage our exposure to interest rate movements. Our foreign operations expose us to fluctuations of foreign exchange rates. These fluctuations may impact our results of operations, financial position, and cash flows. To manage this exposure, we sometimes enter into foreign currency forward contracts to minimize currency exposure due to cash flows from foreign operations. There were no such contracts outstanding at September 30, 2015 or December 31, 2014 . Non-designated Hedges On June 25, 2009, we entered into an interest rate swap with Goldman Sachs in the notional amount of $97 million and with a maturity date of January 19, 2022 (Goldman Sachs interest rate swap). NewMarket entered into the Goldman Sachs interest rate swap in connection with the termination of a loan application and related rate lock agreement between Foundry Park I (a subsidiary of the company) and Principal Commercial Funding II, LLC (Principal). When the rate lock agreement was originally executed in 2007, Principal simultaneously entered into an interest rate swap with a third party to hedge Principal’s exposure to fluctuation in the ten-year United States Treasury Bond rate. Upon the termination of the rate lock agreement on June 25, 2009, Goldman Sachs assumed Principal’s position with the third party and entered into an offsetting interest rate swap with NewMarket. Under the terms of this interest rate swap, NewMarket is making fixed rate payments at 5.3075% and Goldman Sachs makes variable rate payments based on three-month LIBOR. We have collateralized this exposure through cash deposits posted with Goldman Sachs amounting to $27 million at September 30, 2015 and $28 million at December 31, 2014 . We have made an accounting policy election to not offset derivative fair value amounts with the fair value amounts for the right to reclaim cash collateral under our master netting arrangement. We do not use hedge accounting for the Goldman Sachs interest rate swap, and therefore, immediately recognize any change in the fair value of this derivative financial instrument directly in earnings. The table below presents the fair value of our derivative financial instruments, as well as their classification on the Condensed Consolidated Balance Sheets. Liability Derivatives September 30, 2015 December 31, 2014 (in thousands) Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives Not Designated as Hedging Instruments Goldman Sachs interest rate swap Accrued expenses and Other noncurrent liabilities $ 22,807 Accrued expenses and Other noncurrent liabilities $ 23,389 The following table presents the effect of our derivative financial instruments on the Consolidated Statements of Income. Effect of Derivative Instruments on the Consolidated Statements of Income Non-Designated Derivatives (in thousands) Derivatives Not Designated as Hedging Instruments Location of Gain (Loss) Recognized in Income on Derivatives Amount of Gain (Loss) Recognized in Income on Derivatives Third Quarter Ended Nine Months Ended 2015 2014 2015 2014 Goldman Sachs interest rate swap Other income (expense), net $ (3,479 ) $ 113 $ (4,365 ) $ (4,390 ) Credit-risk Related Contingent Features The agreement we have with our current derivative counterparty contains a provision where we could be declared in default on our derivative obligation if repayment of indebtedness is accelerated by our lender(s) due to our default on the indebtedness. As of September 30, 2015 , the fair value of the derivative in a net liability position related to this agreement, which includes accrued interest but excludes any adjustment for nonperformance risk, was $23 million . We have minimum collateral posting thresholds with the counterparty and have posted cash collateral of $27 million as of September 30, 2015 . If required, we could have settled our obligations under the agreement at the termination value of $23 million at September 30, 2015 .

Other Comprehensive Income (Los

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss	Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss The balances of, and changes in, the components of accumulated other comprehensive loss, net of tax, consist of the following: (in thousands) Pension Plans and Other Postretirement Benefits Foreign Currency Translation Adjustments Accumulated Other Comprehensive (Loss) Income Balance at December 31, 2013 $ (44,493 ) $ (15,593 ) $ (60,086 ) Other comprehensive income (loss) before reclassifications (591 ) (9,437 ) (10,028 ) Amounts reclassified from accumulated other comprehensive loss (a) 3,182 0 3,182 Other comprehensive income (loss) 2,591 (9,437 ) (6,846 ) Balance at September 30, 2014 $ (41,902 ) $ (25,030 ) $ (66,932 ) Balance at December 31, 2014 $ (95,119 ) $ (44,041 ) $ (139,160 ) Other comprehensive income (loss) before reclassifications 20,193 (22,791 ) (2,598 ) Amounts reclassified from accumulated other comprehensive loss (a) 3,892 0 3,892 Other comprehensive income (loss) 24,085 (22,791 ) 1,294 Balance at September 30, 2015 $ (71,034 ) $ (66,832 ) $ (137,866 ) (a) The pension plan and other postretirement benefit components of accumulated other comprehensive loss are included in the computation of net periodic benefit cost (income). See Note 3 in this Form 10-Q and Note 18 in our 2014 Annual Report for further information. The amount in the table above for other comprehensive income (loss) before reclassifications for Pension Plans and Other Postretirement Benefits at September 30, 2015 primarily includes the non-cash impact of a negative plan amendment to our domestic postretirement plan. The postretirement plan liabilities were remeasured at September 1, 2015 resulting in an improved funded position. The after-tax adjustment to accumulated other comprehensive loss of $22.0 million is reflected in prior service cost and will be amortized into expense.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following table provides information on assets and liabilities measured at fair value on a recurring basis. No material events occurred during the nine months ended September 30, 2015 requiring adjustment to the recognized balances of assets or liabilities which are recorded at fair value on a nonrecurring basis. Carrying Amount in Condensed Consolidated Balance Sheets Fair Value Measurements Using Fair Value Level 1 Level 2 Level 3 (in thousands) September 30, 2015 Cash and cash equivalents $ 110,327 $ 110,327 $ 110,327 $ 0 $ 0 Cash deposit for collateralized interest rate swap 27,259 27,259 27,259 0 0 Interest rate swap liability 22,807 22,807 0 22,807 0 December 31, 2014 Cash and cash equivalents $ 103,003 $ 103,003 $ 103,003 $ 0 $ 0 Cash deposit for collateralized interest rate swap 27,783 27,783 27,783 0 0 Interest rate swap liability 23,389 23,389 0 23,389 0 We determine the fair value of the derivative instrument shown in the table above by using widely-accepted valuation techniques, including a discounted cash flow analysis on the expected cash flows of the instrument. The analysis reflects the contractual term of the derivative, including the period to maturity, and uses observable market-based inputs. The fair value of the interest rate swap is determined using the market standard methodology of netting the discounted future fixed cash receipts and the discounted expected variable cash payments. The variable cash payments are based on an expectation of future interest rates derived from observable market interest rate curves. In determining the fair value measurements, we incorporate credit valuation adjustments to appropriately reflect both our nonperformance risk and the counterparties’ nonperformance risk. Although we have determined that the majority of the inputs used to value our derivative fall within Level 2 of the fair value hierarchy, the credit valuation adjustment associated with the derivative utilizes Level 3 inputs. These Level 3 inputs include estimates of current credit spreads to evaluate the likelihood of default by both us and the counterparties to the derivative. As of September 30, 2015 and December 31, 2014 , we have assessed the significance of the impact of the credit valuation adjustment on the overall valuation of our derivative and have determined that the credit valuation adjustment is not significant to the overall valuation of the derivative. Accordingly, we have determined that our derivative valuation should be classified in Level 2 of the fair value hierarchy. We have made an accounting policy election to measure credit risk of any derivative financial instruments subject to master netting agreements on a net basis by counterparty portfolio. Long-term debt – We record the value of our long-term debt at historical cost. The estimated fair value of our long-term debt is shown in the table below and is based primarily on estimated current rates available to us for debt of the same remaining duration and adjusted for nonperformance risk and credit risk. The estimated fair value is determined by the market standard practice of modeling the contractual cash flows required under the debt instrument and discounting the cash flows back to present value at the appropriate credit-risk adjusted market interest rates. For floating rate debt obligations, we use forward rates, derived from observable market yield curves, to project the expected cash flows we will be required to make under the debt instrument. We then discount those cash flows back to present value at the appropriate credit-risk adjusted market interest rates. The fair value is categorized as Level 2. September 30, 2015 December 31, 2014 (in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt $ 507,571 $ 530,071 $ 363,526 $ 388,581

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	9 Months Ended
	Sep. 30, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (ASU 2014-09). ASU 2014-09 replaces the previous guidance and clarifies the principles for revenue recognition. It requires a five-step process for revenue recognition that represents the transfer of goods or services to customers in an amount that reflects the consideration expected to be received by a company. ASU 2014-09 also requires enhanced disclosures regarding the nature, amount, timing, and uncertainty of revenues and cash flows from contracts with customers. ASU 2014-09 is effective for our reporting period beginning January 1, 2018. Entities are permitted to adopt one year early. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. We are currently assessing the impact that the adoption of ASU 2014-09 will have on our consolidated financial statements.

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Fair Value Measurements	We determine the fair value of the derivative instrument shown in the table above by using widely-accepted valuation techniques, including a discounted cash flow analysis on the expected cash flows of the instrument. The analysis reflects the contractual term of the derivative, including the period to maturity, and uses observable market-based inputs. The fair value of the interest rate swap is determined using the market standard methodology of netting the discounted future fixed cash receipts and the discounted expected variable cash payments. The variable cash payments are based on an expectation of future interest rates derived from observable market interest rate curves. In determining the fair value measurements, we incorporate credit valuation adjustments to appropriately reflect both our nonperformance risk and the counterparties’ nonperformance risk. Although we have determined that the majority of the inputs used to value our derivative fall within Level 2 of the fair value hierarchy, the credit valuation adjustment associated with the derivative utilizes Level 3 inputs. These Level 3 inputs include estimates of current credit spreads to evaluate the likelihood of default by both us and the counterparties to the derivative. As of September 30, 2015 and December 31, 2014 , we have assessed the significance of the impact of the credit valuation adjustment on the overall valuation of our derivative and have determined that the credit valuation adjustment is not significant to the overall valuation of the derivative. Accordingly, we have determined that our derivative valuation should be classified in Level 2 of the fair value hierarchy. We have made an accounting policy election to measure credit risk of any derivative financial instruments subject to master netting agreements on a net basis by counterparty portfolio.
Derivatives Offsetting Fair Value Amounts Policy	We have made an accounting policy election to not offset derivative fair value amounts with the fair value amounts for the right to reclaim cash collateral under our master netting arrangement.
Long-Term Debt	We record the value of our long-term debt at historical cost.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Consolidated Revenue by Segment	Consolidated Revenue by Segment Third Quarter Ended Nine Months Ended (in thousands) 2015 2014 2015 2014 Petroleum additives Lubricant additives $ 439,808 $ 483,574 $ 1,360,602 $ 1,470,344 Fuel additives 96,376 102,044 287,710 306,824 Total 536,184 585,618 1,648,312 1,777,168 All other 4,749 4,049 12,896 9,359 Consolidated revenue $ 540,933 $ 589,667 $ 1,661,208 $ 1,786,527
Segment Operating Profit	Segment Operating Profit Third Quarter Ended Nine Months Ended (in thousands) 2015 2014 2015 2014 Petroleum additives $ 100,515 $ 94,310 $ 299,592 $ 299,578 All other 1,207 399 3,522 1,792 Segment operating profit 101,722 94,709 303,114 301,370 Corporate, general, and administrative expenses (4,196 ) (6,320 ) (16,751 ) (18,448 ) Interest and financing expenses, net (3,538 ) (4,168 ) (10,936 ) (12,678 ) Gain (loss) on interest rate swap agreement (a) (3,479 ) 113 (4,365 ) (4,390 ) Other income (expense), net 177 (73 ) 297 119 Income before income tax expense $ 90,686 $ 84,261 $ 271,359 $ 265,973 (a) The gain (loss) on interest rate swap agreement represents the change, since the beginning of the reporting period, in the fair value of an interest rate swap which we entered into on June 25, 2009. We are not using hedge accounting to record the interest rate swap and, accordingly, any change in the fair value is immediately recognized in earnings.

Pension Plans and Other Postr23

Pension Plans and Other Postretirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2015
Defined Benefit Plan Disclosure [Line Items]
Cash Contributions Made And Expected Remaining Contributions For Domestic And Foreign Pension And Postretirement Benefit Plans	The table below shows cash contributions made during the nine months ended September 30, 2015 , as well as the remaining cash contributions we expect to make during the year ending December 31, 2015 , for our domestic and foreign pension plans and domestic postretirement benefit plan. (in thousands) Actual Cash Contributions for Nine Months Ended September 30, 2015 Expected Remaining Cash Contributions for Year Ending December 31, 2015 Domestic plans Pension benefits $ 14,491 $ 4,830 Postretirement benefits 977 326 Foreign plans Pension benefits 4,539 1,486
Domestic [Member]
Defined Benefit Plan Disclosure [Line Items]
Net Periodic Benefit Cost (Income) For Pension And Postretirement Benefit Plans	The tables below present information on net periodic benefit cost (income) for our pension and postretirement benefit plans. Domestic Pension Benefits Postretirement Benefits Third Quarter Ended September 30, (in thousands) 2015 2014 2015 2014 Service cost $ 3,296 $ 2,430 $ 652 $ 577 Interest cost 2,987 2,727 626 672 Expected return on plan assets (5,167 ) (4,482 ) (320 ) (327 ) Amortization of prior service cost (credit) 25 25 (252 ) 1 Amortization of actuarial net loss (gain) 1,698 914 0 (181 ) Net periodic benefit cost (income) $ 2,839 $ 1,614 $ 706 $ 742 Domestic Pension Benefits Postretirement Benefits Nine Months Ended September 30, (in thousands) 2015 2014 2015 2014 Service cost $ 9,776 $ 7,205 $ 2,074 $ 1,387 Interest cost 8,952 8,202 2,139 2,054 Expected return on plan assets (15,350 ) (13,143 ) (965 ) (983 ) Amortization of prior service cost (credit) 75 75 (251 ) 6 Amortization of actuarial net loss (gain) 5,168 2,869 0 (534 ) Net periodic benefit cost (income) $ 8,621 $ 5,208 $ 2,997 $ 1,930
Foreign [Member]
Defined Benefit Plan Disclosure [Line Items]
Net Periodic Benefit Cost (Income) For Pension And Postretirement Benefit Plans	Foreign Pension Benefits Postretirement Benefits Third Quarter Ended September 30, (in thousands) 2015 2014 2015 2014 Service cost $ 1,807 $ 1,494 $ 0 $ 0 Interest cost 1,198 1,459 0 0 Expected return on plan assets (1,592 ) (1,950 ) 0 0 Amortization of prior service credit (24 ) (25 ) 0 0 Amortization of actuarial net loss 386 273 0 0 Settlements and curtailments 0 1,817 0 0 Net periodic benefit cost (income) $ 1,775 $ 3,068 $ 0 $ 0 Foreign Pension Benefits Postretirement Benefits Nine Months Ended September 30, (in thousands) 2015 2014 2015 2014 Service cost $ 5,657 $ 4,495 $ 0 $ 3 Interest cost 3,717 4,583 0 41 Expected return on plan assets (5,145 ) (6,127 ) 0 0 Amortization of prior service credit (72 ) (77 ) 0 0 Amortization of transition obligation 0 0 0 5 Amortization of actuarial net loss 1,171 843 0 8 Settlements and curtailments 0 1,817 0 (122 ) Net periodic benefit cost (income) $ 5,328 $ 5,534 $ 0 $ (65 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings Per Share	The following table illustrates the earnings allocation method utilized in the calculation of basic and diluted earnings per share. Third Quarter Ended Nine Months Ended (in thousands, except per-share amounts) 2015 2014 2015 2014 Earnings per share numerator: Net income attributable to common shareholders before allocation of earnings to participating securities $ 62,009 $ 56,913 $ 184,689 $ 181,200 Earnings allocated to participating securities 126 81 395 273 Net income attributable to common shareholders after allocation of earnings to participating securities $ 61,883 $ 56,832 $ 184,294 $ 180,927 Earnings per share denominator: Weighted-average number of shares of common stock outstanding - basic and diluted 12,187 12,549 12,336 12,745 Earnings per share - basic and diluted $ 5.08 $ 4.53 $ 14.94 $ 14.20

Intangibles (Net of Amortizat25

Intangibles (Net of Amortization) and Goodwill (Tables)	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Information Related to Intangible Assets and Goodwill	The gross carrying amount and accumulated amortization of each type of intangible asset and goodwill are presented in the table below. September 30, 2015 December 31, 2014 (in thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortizing intangible assets Formulas and technology $ 88,786 $ 85,658 $ 88,824 $ 82,050 Contracts 4,476 3,991 4,476 3,655 Customer bases 6,982 3,555 6,994 3,336 Trademarks and trade names 1,556 885 1,571 769 Goodwill 4,700 4,804 $ 106,500 $ 94,089 $ 106,669 $ 89,810
Schedule Of Amortization Expense	Amortization expense was (in thousands): Third quarter ended September 30, 2015 $ 1,428 Nine months ended September 30, 2015 4,279 Third quarter ended September 30, 2014 1,576 Nine months ended September 30, 2014 4,727
Schedule Of Estimated Annual Amortization Expense Related To Intangible Assets	Estimated amortization expense for the remainder of 2015 , as well as annual amortization expense related to our intangible assets for the next five years, is expected to be (in thousands): 2015 $ 1,431 2016 1,891 2017 730 2018 700 2019 678 2020 319

Long-term Debt (Tables)

Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Long-term Debt and Capital Lease Obligations [Abstract]
Schedule Of Long-Term Debt	(in thousands) September 30, December 31, Senior notes - 4.10% due 2022 $ 349,571 $ 349,526 Revolving credit facility 158,000 14,000 $ 507,571 $ 363,526
Schedule Of Unused Portion Of Revolving Credit Facility	The following table provides information related to the unused portion of our revolving credit facility: (in thousands) September 30, December 31, Maximum borrowing capacity under the revolving credit facility $ 650,000 $ 650,000 Outstanding borrowings under the revolving credit facility 158,000 14,000 Outstanding letters of credit 2,783 3,271 Unused portion of revolving credit facility $ 489,217 $ 632,729

Derivatives and Hedging Activ27

Derivatives and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Derivative Instruments	The table below presents the fair value of our derivative financial instruments, as well as their classification on the Condensed Consolidated Balance Sheets. Liability Derivatives September 30, 2015 December 31, 2014 (in thousands) Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives Not Designated as Hedging Instruments Goldman Sachs interest rate swap Accrued expenses and Other noncurrent liabilities $ 22,807 Accrued expenses and Other noncurrent liabilities $ 23,389
Effect of Derivative Instruments on the Consolidated Statements of Income Non-Designated Derivatives	The following table presents the effect of our derivative financial instruments on the Consolidated Statements of Income. Effect of Derivative Instruments on the Consolidated Statements of Income Non-Designated Derivatives (in thousands) Derivatives Not Designated as Hedging Instruments Location of Gain (Loss) Recognized in Income on Derivatives Amount of Gain (Loss) Recognized in Income on Derivatives Third Quarter Ended Nine Months Ended 2015 2014 2015 2014 Goldman Sachs interest rate swap Other income (expense), net $ (3,479 ) $ 113 $ (4,365 ) $ (4,390 )

Other Comprehensive Income (L28

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Components of Accumulated Other Comprehensive Loss, Net of Tax	The balances of, and changes in, the components of accumulated other comprehensive loss, net of tax, consist of the following: (in thousands) Pension Plans and Other Postretirement Benefits Foreign Currency Translation Adjustments Accumulated Other Comprehensive (Loss) Income Balance at December 31, 2013 $ (44,493 ) $ (15,593 ) $ (60,086 ) Other comprehensive income (loss) before reclassifications (591 ) (9,437 ) (10,028 ) Amounts reclassified from accumulated other comprehensive loss (a) 3,182 0 3,182 Other comprehensive income (loss) 2,591 (9,437 ) (6,846 ) Balance at September 30, 2014 $ (41,902 ) $ (25,030 ) $ (66,932 ) Balance at December 31, 2014 $ (95,119 ) $ (44,041 ) $ (139,160 ) Other comprehensive income (loss) before reclassifications 20,193 (22,791 ) (2,598 ) Amounts reclassified from accumulated other comprehensive loss (a) 3,892 0 3,892 Other comprehensive income (loss) 24,085 (22,791 ) 1,294 Balance at September 30, 2015 $ (71,034 ) $ (66,832 ) $ (137,866 ) (a) The pension plan and other postretirement benefit components of accumulated other comprehensive loss are included in the computation of net periodic benefit cost (income). See Note 3 in this Form 10-Q and Note 18 in our 2014 Annual Report for further information.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Assets And Liabilities Measured At Fair Value On A Recurring Basis	Carrying Amount in Condensed Consolidated Balance Sheets Fair Value Measurements Using Fair Value Level 1 Level 2 Level 3 (in thousands) September 30, 2015 Cash and cash equivalents $ 110,327 $ 110,327 $ 110,327 $ 0 $ 0 Cash deposit for collateralized interest rate swap 27,259 27,259 27,259 0 0 Interest rate swap liability 22,807 22,807 0 22,807 0 December 31, 2014 Cash and cash equivalents $ 103,003 $ 103,003 $ 103,003 $ 0 $ 0 Cash deposit for collateralized interest rate swap 27,783 27,783 27,783 0 0 Interest rate swap liability 23,389 23,389 0 23,389 0
Estimated Fair Value Of Long-Term Debt	September 30, 2015 December 31, 2014 (in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt $ 507,571 $ 530,071 $ 363,526 $ 388,581

Segment Information (Consolidat

Segment Information (Consolidated Revenue By Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Information [Line Items]
Consolidated revenue	$ 540,933	$ 589,667	$ 1,661,208	$ 1,786,527
Operating Segments [Member] | Petroleum Additives [Member]
Segment Information [Line Items]
Consolidated revenue	536,184	585,618	1,648,312	1,777,168
Operating Segments [Member] | All Other [Member]
Segment Information [Line Items]
Consolidated revenue	4,749	4,049	12,896	9,359
Operating Segments [Member] | Lubricant Additives [Member] | Petroleum Additives [Member]
Segment Information [Line Items]
Consolidated revenue	439,808	483,574	1,360,602	1,470,344
Operating Segments [Member] | Fuel Additives [Member] | Petroleum Additives [Member]
Segment Information [Line Items]
Consolidated revenue	$ 96,376	$ 102,044	$ 287,710	$ 306,824

Segment Information (Segment Op

Segment Information (Segment Operating Profit) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Information [Line Items]
Segment operating profit		$ 97,624	$ 88,044	$ 286,337	$ 282,685
Corporate, general, and administrative expenses		(38,298)	(41,376)	(120,762)	(121,837)
Interest and financing expenses, net		(3,538)	(4,168)	(10,936)	(12,678)
Gain (loss) on interest rate swap agreement	[1]	(3,479)	113	(4,365)	(4,390)
Other income (expense), net		177	(73)	297	119
Income before income tax expense		90,686	84,261	271,359	265,973
Operating Segments [Member]
Segment Information [Line Items]
Segment operating profit		101,722	94,709	303,114	301,370
Operating Segments [Member] | Petroleum Additives [Member]
Segment Information [Line Items]
Segment operating profit		100,515	94,310	299,592	299,578
Operating Segments [Member] | All Other [Member]
Segment Information [Line Items]
Segment operating profit		1,207	399	3,522	1,792
Corporate, Non-Segment [Member]
Segment Information [Line Items]
Corporate, general, and administrative expenses		$ (4,196)	$ (6,320)	$ (16,751)	$ (18,448)
[1]	The gain (loss) on interest rate swap agreement represents the change, since the beginning of the reporting period, in the fair value of an interest rate swap which we entered into on June 25, 2009. We are not using hedge accounting to record the interest rate swap and, accordingly, any change in the fair value is immediately recognized in earnings.

Pension Plans and Other Postr32

Pension Plans and Other Postretirement Benefits (Cash Contributions Made And Expected Remaining Contributions For Domestic And Foreign Pension And Postretirement Benefit Plans) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Domestic Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Actual Cash Contributions, Pension benefits	$ 14,491
Expected Remaining Cash Contributions	4,830
Domestic Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Actual Cash Contributions, Postretirement benefits	977
Expected Remaining Cash Contributions	326
Foreign Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Actual Cash Contributions, Pension benefits	4,539
Expected Remaining Cash Contributions	$ 1,486

Pension Plans and Other Postr33

Pension Plans and Other Postretirement Benefits (Net Periodic Benefit Cost For Pension And Postretirement Benefit Plans) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Domestic Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 3,296	$ 2,430	$ 9,776	$ 7,205
Interest cost	2,987	2,727	8,952	8,202
Expected return on plan assets	(5,167)	(4,482)	(15,350)	(13,143)
Amortization of prior service (credit) cost	25	25	75	75
Amortization of actuarial net loss (gain)	1,698	914	5,168	2,869
Net periodic benefit cost (income)	2,839	1,614	8,621	5,208
Domestic Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	652	577	2,074	1,387
Interest cost	626	672	2,139	2,054
Expected return on plan assets	(320)	(327)	(965)	(983)
Amortization of prior service (credit) cost	(252)	1	(251)	6
Amortization of actuarial net loss (gain)	0	(181)	0	(534)
Net periodic benefit cost (income)	706	742	2,997	1,930
Foreign Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	1,807	1,494	5,657	4,495
Interest cost	1,198	1,459	3,717	4,583
Expected return on plan assets	(1,592)	(1,950)	(5,145)	(6,127)
Amortization of prior service (credit) cost	(24)	(25)	(72)	(77)
Amortization of transition obligation			0	0
Amortization of actuarial net loss (gain)	386	273	1,171	843
Settlements and curtailments	0	1,817	0	1,817
Net periodic benefit cost (income)	1,775	3,068	5,328	5,534
Foreign Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	0	3
Interest cost	0	0	0	41
Expected return on plan assets	0	0	0	0
Amortization of prior service (credit) cost	0	0	0	0
Amortization of transition obligation			0	5
Amortization of actuarial net loss (gain)	0	0	0	8
Settlements and curtailments	0	0	0	(122)
Net periodic benefit cost (income)	$ 0	$ 0	$ 0	$ (65)

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Anti-dilutive shares of nonvested restricted stock that were excluded from the calculation of earnings per share (in shares)			19,441	19,430
Earnings per share numerator:
Net income attributable to common shareholders before allocation of earnings to participating securities	$ 62,009	$ 56,913	$ 184,689	$ 181,200
Earnings allocated to participating securities	126	81	395	273
Net income attributable to common shareholders after allocation of earnings to participating securities	$ 61,883	$ 56,832	$ 184,294	$ 180,927
Earnings per share denominator:
Weighted-average number of shares of common stock outstanding - basic and diluted (in shares)	12,187,000	12,549,000	12,336,000	12,745,000
Earnings per share - basic and diluted (in dollars per share)	$ 5.08	$ 4.53	$ 14.94	$ 14.20

Intangibles (Net of Amortizat35

Intangibles (Net of Amortization) and Goodwill (Narrative) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Net carrying amount of intangibles and goodwill	$ 12,411,000	$ 16,859,000
Accumulated goodwill impairment	$ 0	$ 0
Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated economic life, in years	10 years
Customer Bases [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated economic life, in years	20 years
Trademarks And Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated economic life, in years	10 years
Minimum [Member] | Formulas And Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated economic life, in years	10 years
Maximum [Member] | Formulas And Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated economic life, in years	20 years

Intangibles (Net of Amortizat36

Intangibles (Net of Amortization) and Goodwill (Schedule Of Information Related To Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Amortizing intangible assets, Accumulated Amortization	$ 94,089	$ 89,810
Goodwill, Gross Carrying Amount	4,700	4,804
Amortizing intangible assets and Goodwill, Gross Carrying Amount	106,500	106,669
Formulas And Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizing intangible assets, Gross Carrying Amount	88,786	88,824
Amortizing intangible assets, Accumulated Amortization	85,658	82,050
Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizing intangible assets, Gross Carrying Amount	4,476	4,476
Amortizing intangible assets, Accumulated Amortization	3,991	3,655
Customer Bases [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizing intangible assets, Gross Carrying Amount	6,982	6,994
Amortizing intangible assets, Accumulated Amortization	3,555	3,336
Trademarks And Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizing intangible assets, Gross Carrying Amount	1,556	1,571
Amortizing intangible assets, Accumulated Amortization	$ 885	$ 769

Intangibles (Net of Amortizat37

Intangibles (Net of Amortization) and Goodwill (Schedule Of Amortization Expense And Estimated Annual Amortization Expense Related To Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 1,428	$ 1,576	$ 4,279	$ 4,727
2,015	1,431		1,431
2,016	1,891		1,891
2,017	730		730
2,018	700		700
2,019	678		678
2,020	$ 319		$ 319

Long-term Debt (Narrative) (Det

Long-term Debt (Narrative) (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Senior Notes [Member]
Debt Instrument [Line Items]
Principal amount of debt	$ 350,000,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Average interest rate during the period	2.10%	2.90%

Long-term Debt (Schedule Of Lon

Long-term Debt (Schedule Of Long-Term Debt) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Outstanding borrowings	$ 507,571	$ 363,526
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Outstanding borrowings	158,000	14,000
Senior Notes [Member]
Debt Instrument [Line Items]
Outstanding borrowings	$ 349,571	$ 349,526
Senior notes, interest rate	4.10%
Senior notes, maturity date	2,022

Long-term Debt (Schedule Of Unu

Long-term Debt (Schedule Of Unused Portion Of Revolving Credit Facility) (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Outstanding borrowings	$ 507,571,000	$ 363,526,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity under the revolving credit facility	650,000,000	650,000,000
Outstanding borrowings	158,000,000	14,000,000
Outstanding letters of credit	2,783,000	3,271,000
Unused portion of revolving credit facility	$ 489,217,000	$ 632,729,000

Commitments and Contingencies (

Commitments and Contingencies (Environmental) (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Site Contingency [Line Items]
Accruals for environmental remediation, dismantling, and decontamination	$ 18	$ 18
Former TEL Plant Site Louisiana And Houston Texas Plant Site [Member]
Site Contingency [Line Items]
Accruals for environmental remediation, dismantling, and decontamination	11	11
Accruals for environmental remediation, dismantling, and decontamination, undiscounted	15	15
Former TEL Plant Site, Louisiana [Member]
Site Contingency [Line Items]
Accrual for remediation of groundwater and soil	5	5
Houston, Texas Plant Site [Member]
Site Contingency [Line Items]
Accrual for remediation of groundwater and soil	$ 5	$ 6
Minimum [Member] | Former TEL Plant Site Louisiana And Houston Texas Plant Site [Member]
Site Contingency [Line Items]
Discount rate	3.00%	3.00%
Maximum [Member] | Former TEL Plant Site Louisiana And Houston Texas Plant Site [Member]
Site Contingency [Line Items]
Discount rate	9.00%	9.00%

Derivatives and Hedging Activ42

Derivatives and Hedging Activities (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Termination value of obligations	$ 23,000
Goldman Sachs [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Cash collateral deposit	27,259	$ 27,783
Interest Rate Swap [Member] | Goldman Sachs [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Notional amount	$ 97,000
Rate of fixed-rate payments for interest rate swap	5.3075%
Cash collateral deposit	$ 27,259	$ 27,783

Derivatives and Hedging Activ43

Derivatives and Hedging Activities (Fair Value Of Derivative Instruments) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Goldman Sachs [Member] | Interest Rate Swap [Member] | Accrued Expenses And Other Noncurrent Liabilities [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Fair value of liability derivatives, not designated as hedging instruments	$ 22,807	$ 23,389

Derivatives and Hedging Activ44

Derivatives and Hedging Activities (Effect Of Derivative Instruments On The Consolidated Statements Of Income Non-Designated Derivatives)(Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	[1]	$ (3,479)	$ 113	$ (4,365)	$ (4,390)
Goldman Sachs [Member] | Interest Rate Swap [Member] | Other Income (Expense), Net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives		$ (3,479)	$ 113	$ (4,365)	$ (4,390)
[1]	The gain (loss) on interest rate swap agreement represents the change, since the beginning of the reporting period, in the fair value of an interest rate swap which we entered into on June 25, 2009. We are not using hedge accounting to record the interest rate swap and, accordingly, any change in the fair value is immediately recognized in earnings.

Other Comprehensive Income (L45

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss (Schedule of Components of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
After Tax Adjustment to Accumulated Other Comprehensive Loss Due to Negative Plan Amendment		$ 22,009	$ 0	$ 22,009	$ 0
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Pension Plans and Other Postretirement Benefits, Beginning Balance				(95,119)	(44,493)
Foreign Currency Translation Adjustments, Beginning Balance				(44,041)	(15,593)
Accumulated Other Comprehensive (Loss) Income, Beginning Balance				(139,160)	(60,086)
Other comprehensive income (loss) before reclassifications, Pension Plans and Other Postretirement Benefits				20,193	(591)
Other comprehensive income (loss) before reclassifications, Foreign Currency Translation Adjustments		(15,647)	(18,997)	(22,791)	(9,437)
Other comprehensive income (loss) before reclassifications, Accumulated Other Comprehensive (Loss) Income				(2,598)	(10,028)
Amounts reclassified from accumulated other comprehensive loss, Pension Plans and Other Postretirement Benefits	[1]			3,892	3,182
Amounts reclassified from accumulated other comprehensive loss, Foreign Currency Translation Adjustments				0	0
Amounts reclassified from accumulated other comprehensive loss, Accumulated Other Comprehensive (Loss) Income				3,892	3,182
Total pension plans and other postretirement benefits		21,379	872	24,085	2,591
Other comprehensive income (loss), Foreign Currency Translation Adjustments				(22,791)	(9,437)
Other comprehensive income (loss)		5,732	(18,125)	1,294	(6,846)
Pension Plans and Other Postretirement Benefits, Ending Balance		(71,034)	(41,902)	(71,034)	(41,902)
Foreign Currency Translation Adjustments, Ending Balance		(66,832)	(25,030)	(66,832)	(25,030)
Accumulated Other Comprehensive (Loss) Income, Ending Balance		$ (137,866)	$ (66,932)	$ (137,866)	$ (66,932)
[1]	The pension plan and other postretirement benefit components of accumulated other comprehensive loss are included in the computation of net periodic benefit cost (income). See Note 3 in this Form 10-Q and Note 18 in our 2014 Annual Report for further information.

Fair Value Measurements (Assets

Fair Value Measurements (Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Fair Value Measurements [Line Items]
Cash and cash equivalents, Carrying Amount in Consolidated Balance Sheets	$ 110,327	$ 103,003	$ 141,536	$ 238,703
Goldman Sachs [Member]
Fair Value Measurements [Line Items]
Cash deposit for collateralized interest rate swap, Carrying Amount in Consolidated Balance Sheets	27,259	27,783
Carrying Amount in Consolidated Balance Sheets [Member]
Fair Value Measurements [Line Items]
Cash and cash equivalents, Carrying Amount in Consolidated Balance Sheets	110,327	103,003
Interest rate swap liability, Carrying Amount in Consolidated Balance Sheets	22,807	23,389
Fair Value [Member]
Fair Value Measurements [Line Items]
Cash and cash equivalents, Fair Value	110,327	103,003
Interest rate swap liability, Fair Value	22,807	23,389
Fair Value [Member] | Goldman Sachs [Member]
Fair Value Measurements [Line Items]
Cash deposit for collateralized interest rate swap, Fair Value	27,259	27,783
Fair Value, Level 1 [Member]
Fair Value Measurements [Line Items]
Cash and cash equivalents, Fair Value	110,327	103,003
Interest rate swap liability, Fair Value	0	0
Fair Value, Level 1 [Member] | Goldman Sachs [Member]
Fair Value Measurements [Line Items]
Cash deposit for collateralized interest rate swap, Fair Value	27,259	27,783
Fair Value, Level 2 [Member]
Fair Value Measurements [Line Items]
Cash and cash equivalents, Fair Value	0	0
Interest rate swap liability, Fair Value	22,807	23,389
Fair Value, Level 2 [Member] | Goldman Sachs [Member]
Fair Value Measurements [Line Items]
Cash deposit for collateralized interest rate swap, Fair Value	0	0
Fair Value, Level 3 [Member]
Fair Value Measurements [Line Items]
Cash and cash equivalents, Fair Value	0	0
Interest rate swap liability, Fair Value	0	0
Fair Value, Level 3 [Member] | Goldman Sachs [Member]
Fair Value Measurements [Line Items]
Cash deposit for collateralized interest rate swap, Fair Value	$ 0	$ 0

Fair Value Measurements (Estima

Fair Value Measurements (Estimated Fair Value Of Long-Term Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Long-term debt, Carrying Amount	$ 507,571	$ 363,526
Long-term debt, Fair Value	$ 530,071	$ 388,581