NewMarket (NEU) 10-Q 28 Jul 16 2016 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information	6 Months Ended
	Jun. 30, 2016shares
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
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	11,848,384

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Net sales	$ 521,807	$ 560,709	$ 1,031,734	$ 1,120,275
Cost of goods sold	343,407	391,001	677,784	769,295
Gross profit	178,400	169,708	353,950	350,980
Selling, general, and administrative expenses	40,388	40,655	81,328	82,464
Research, development, and testing expenses	40,720	40,118	79,936	79,803
Operating profit	97,292	88,935	192,686	188,713
Interest and financing expenses, net	3,954	3,582	8,142	7,398
Other income (expense), net	(1,266)	1,683	(3,526)	(642)
Income before income tax expense	92,072	87,036	181,018	180,673
Income tax expense	27,683	28,303	54,698	57,993
Net income	$ 64,389	$ 58,733	$ 126,320	$ 122,680
Earnings per share - basic and diluted (in dollars per share)	$ 5.43	$ 4.72	$ 10.65	$ 9.86
Cash dividends declared per share (in dollars per share)	$ 1.60	$ 1.40	$ 3.20	$ 2.80

Consolidated Statements Of Comp

Consolidated Statements Of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 64,389	$ 58,733	$ 126,320	$ 122,680
Pension plans and other postretirement benefits:
Amortization of prior service cost (credit) included in net periodic benefit cost, net of income tax expense (benefit) of $(305) in second quarter 2016, $4 in second quarter 2015, $(610) in six months 2016 and $8 in six months 2015	(490)	(3)	(979)	(6)
Amortization of actuarial net loss (gain) included in net periodic benefit cost, net of income tax expense (benefit) of $571 in second quarter 2016, $766 in second quarter 2015, $1,141 in six months 2016 and $1,534 in six months 2015	999	1,352	1,990	2,712
Total pension plans and other postretirement benefits	509	1,349	1,011	2,706
Foreign currency translation adjustments, net of income tax expense (benefit) of $(65) in second quarter 2016, ($268) in second quarter 2015, $1,600 in six months 2016 and ($1,366) in six months 2015	(5,560)	18,520	(10,323)	(7,144)
Other comprehensive income (loss)	(5,051)	19,869	(9,312)	(4,438)
Comprehensive income	$ 59,338	$ 78,602	$ 117,008	$ 118,242

Consolidated Statements Of Com4

Consolidated Statements Of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Amortization of prior service cost (credit) included in net periodic benefit cost, income tax expense (benefit)	$ (305)	$ 4	$ (610)	$ 8
Amortization of actuarial net loss (gain) included in net periodic benefit cost, income tax expense (benefit)	571	766	1,141	1,534
Foreign currency translation adjustments, income tax expense (benefit)	$ (65)	$ (268)	$ 1,600	$ (1,366)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 158,136	$ 93,424
Trade and other accounts receivable, less allowance for doubtful accounts	303,899	287,967
Inventories:
Finished goods and work-in-process	249,237	292,978
Raw materials	44,378	48,728
Stores, supplies, and other	9,860	9,925
Total inventories	303,475	351,631
Prepaid expenses and other current assets	31,142	35,370
Total current assets	796,652	768,392
Property, plant, and equipment, at cost	1,192,321	1,128,989
Less accumulated depreciation and amortization	746,660	726,543
Net property, plant, and equipment	445,661	402,446
Prepaid pension cost	26,538	20,430
Deferred income taxes	40,741	44,729
Intangibles (net of amortization) and goodwill	9,242	10,907
Deferred charges and other assets	39,448	39,345
Total assets	1,358,282	1,286,249
Current liabilities:
Accounts payable	135,639	128,745
Accrued expenses	80,303	99,511
Dividends payable	17,449	17,594
Income taxes payable	17,596	12,773
Other current liabilities	7,024	5,057
Total current liabilities	258,011	263,680
Long-term debt	521,264	490,920
Other noncurrent liabilities	146,793	144,085
Total liabilities	926,068	898,685
Commitments and contingencies
Shareholders’ equity:
Common stock and paid-in capital (without par value; authorized shares - 80,000,000; issued and outstanding shares - 11,848,384 at June 30, 2016 and 11,948,446 at December 31, 2015)	1,109	0
Accumulated other comprehensive loss	(153,838)	(144,526)
Retained earnings	584,943	532,090
Total shareholders' equity	432,214	387,564
Total liabilities and shareholders’ equity	$ 1,358,282	$ 1,286,249

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, no par value
Common stock, authorized shares	80,000,000	80,000,000
Common stock, issued shares	11,848,384	11,948,446
Common stock, outstanding shares	11,848,384	11,948,446

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, 2014		12,446,365
Balance at Dec. 31, 2014	$ 421,041	$ 0	$ (139,160)	$ 560,201
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	122,680			122,680
Other comprehensive income (loss)	(4,438)		(4,438)
Cash dividends	(34,824)			(34,824)
Repurchases of common stock (in shares)		(21,083)
Repurchases of common stock	(9,400)	$ (1,304)		(8,096)
Stock-based compensation (in shares)		(980)
Stock-based compensation	1,330	$ 1,304		26
Balance (in shares) at Jun. 30, 2015		12,424,302
Balance at Jun. 30, 2015	$ 496,389	$ 0	(143,598)	639,987
Balance (in shares) at Dec. 31, 2015	11,948,446	11,948,446
Balance at Dec. 31, 2015	$ 387,564	$ 0	(144,526)	532,090
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	126,320			126,320
Other comprehensive income (loss)	(9,312)		(9,312)
Cash dividends	(37,917)			(37,917)
Repurchases of common stock (in shares)		(98,867)
Repurchases of common stock	(35,815)	$ (252)		(35,563)
Stock-based compensation (in shares)		(1,195)
Stock-based compensation	$ 1,374	$ 1,361		13
Balance (in shares) at Jun. 30, 2016	11,848,384	11,848,384
Balance at Jun. 30, 2016	$ 432,214	$ 1,109	$ (153,838)	$ 584,943

Consolidated Statements Of Sha8

Consolidated Statements Of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 1.60	$ 1.40	$ 3.20	$ 2.80

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Statement of Cash Flows [Abstract]
Cash and cash equivalents at beginning of year	$ 93,424	$ 103,003
Cash flows from operating activities:
Net income	126,320	122,680
Adjustments to reconcile net income to cash flows from operating activities:
Depreciation and amortization	21,082	20,566
Noncash pension and postretirement expense	6,111	11,626
Deferred income tax expense	4,596	305
Unrealized loss (gain) on derivative instruments, net	3,051	(1,554)
Working capital changes	24,942	(18,365)
Cash pension and postretirement contributions	(13,058)	(13,354)
Other, net	14,937	1,277
Cash provided from (used in) operating activities	187,981	123,181
Cash flows from investing activities:
Capital expenditures	(64,289)	(50,047)
Deposits for interest rate swap	(7,211)	(8,527)
Return of deposits for interest rate swap	3,760	10,430
Other, net	(2,330)	(2,441)
Cash provided from (used in) investing activities	(70,070)	(50,585)
Cash flows from financing activities:
Net borrowings (repayments) under revolving credit facility	25,000	(2,000)
Dividends paid	(37,917)	(34,824)
Repurchases of common stock	(35,815)	(8,000)
Other, net	(3,073)	(3,022)
Cash provided from (used in) financing activities	(51,805)	(47,846)
Effect of foreign exchange on cash and cash equivalents	(1,394)	(1,581)
Increase in cash and cash equivalents	64,712	23,169
Cash and cash equivalents at end of period	158,136	126,172
Supplemental disclosure of non-cash transactions:
Non-cash additions to property, plant, and equipment	794	11,070
Non-cash obligation under capital lease	$ 5,068	$ 0

Financial Statement Presentatio

Financial Statement Presentation	6 Months Ended
	Jun. 30, 2016
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 June 30, 2016 and December 31, 2015 , our consolidated results of operations and comprehensive income for the second quarter and six months ended June 30, 2016 and June 30, 2015 , and our changes in shareholders' equity and cash flows for the six months ended June 30, 2016 and June 30, 2015 . 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, 2015 ( 2015 Annual Report), as filed with the Securities and Exchange Commission. The results of operations for the six month period ended June 30, 2016 are not necessarily indicative of the results to be expected for the full year ending December 31, 2016 . The December 31, 2015 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	6 Months Ended
	Jun. 30, 2016
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 contracted manufacturing and services associated with Ethyl Corporation (Ethyl). Consolidated Revenue by Segment Second Quarter Ended Six Months Ended (in thousands) 2016 2015 2016 2015 Petroleum additives Lubricant additives $ 432,183 $ 467,072 $ 851,035 $ 920,794 Fuel additives 83,929 90,291 171,220 191,334 Total 516,112 557,363 1,022,255 1,112,128 All other 5,695 3,346 9,479 8,147 Consolidated revenue $ 521,807 $ 560,709 $ 1,031,734 $ 1,120,275 Segment Operating Profit Second Quarter Ended Six Months Ended (in thousands) 2016 2015 2016 2015 Petroleum additives $ 102,531 $ 94,052 $ 202,920 $ 199,077 All other 1,355 216 1,591 2,315 Segment operating profit 103,886 94,268 204,511 201,392 Corporate, general, and administrative expenses (6,136 ) (5,540 ) (11,406 ) (12,555 ) Interest and financing expenses, net (3,954 ) (3,582 ) (8,142 ) (7,398 ) Gain (loss) on interest rate swap agreement (a) (1,527 ) 1,522 (5,381 ) (886 ) Other income (expense), net (197 ) 368 1,436 120 Income before income tax expense $ 92,072 $ 87,036 $ 181,018 $ 180,673 (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	6 Months Ended
	Jun. 30, 2016
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 six months ended June 30, 2016 , as well as the remaining cash contributions we expect to make during the year ending December 31, 2016 , for our domestic and foreign pension plans and domestic postretirement benefit plan. (in thousands) Actual Cash Contributions for Six Months Ended June 30, 2016 Expected Remaining Cash Contributions for Year Ending December 31, 2016 Domestic plans Pension benefits $ 9,633 $ 9,633 Postretirement benefits 533 533 Foreign plans Pension benefits 2,892 2,768 The tables below present information on net periodic benefit cost (income) for our domestic and foreign pension plans and domestic postretirement benefit plan. An amendment to the domestic postretirement plan was made in 2015 with an effective date of January 1, 2016 providing post-65 medical and prescription drug benefits to retirees through a private healthcare exchange with fixed subsidies to eligible retirees through a health reimbursement account. 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 (credit) and is being amortized into expense. Domestic Pension Benefits Postretirement Benefits Second Quarter Ended June 30, (in thousands) 2016 2015 2016 2015 Service cost $ 3,107 $ 3,240 $ 160 $ 711 Interest cost 3,268 2,982 421 756 Expected return on plan assets (5,753 ) (5,091 ) (319 ) (323 ) Amortization of prior service cost (credit) (16 ) 25 (757 ) 1 Amortization of actuarial net (gain) loss 1,304 1,735 0 0 Net periodic benefit cost (income) $ 1,910 $ 2,891 $ (495 ) $ 1,145 Domestic Pension Benefits Postretirement Benefits Six Months Ended June 30, (in thousands) 2016 2015 2016 2015 Service cost $ 6,214 $ 6,480 $ 321 $ 1,422 Interest cost 6,534 5,965 841 1,513 Expected return on plan assets (11,506 ) (10,183 ) (637 ) (645 ) Amortization of prior service cost (credit) (32 ) 50 (1,514 ) 1 Amortization of actuarial net (gain) loss 2,607 3,470 0 0 Net periodic benefit cost (income) $ 3,817 $ 5,782 $ (989 ) $ 2,291 Foreign Pension Benefits Second Quarter Ended June 30, Six Months Ended June 30, (in thousands) 2016 2015 2016 2015 Service cost $ 1,877 $ 1,905 $ 3,720 $ 3,850 Interest cost 1,294 1,250 2,568 2,519 Expected return on plan assets (1,760 ) (1,765 ) (3,491 ) (3,553 ) Amortization of prior service cost (credit) (22 ) (24 ) (44 ) (48 ) Amortization of actuarial net (gain) loss 268 387 530 785 Net periodic benefit cost (income) $ 1,657 $ 1,753 $ 3,283 $ 3,553

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share We had 25,255 shares of nonvested restricted stock and restricted stock units at June 30, 2016 and 29,541 shares of nonvested restricted stock at June 30, 2015 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. Second Quarter Ended Six Months Ended (in thousands, except per-share amounts) 2016 2015 2016 2015 Earnings per share numerator: Net income attributable to common shareholders before allocation of earnings to participating securities $ 64,389 $ 58,733 $ 126,320 $ 122,680 Earnings allocated to participating securities 134 127 265 269 Net income attributable to common shareholders after allocation of earnings to participating securities $ 64,255 $ 58,606 $ 126,055 $ 122,411 Earnings per share denominator: Weighted-average number of shares of common stock outstanding - basic and diluted 11,823 12,407 11,831 12,410 Earnings per share - basic and diluted $ 5.43 $ 4.72 $ 10.65 $ 9.86

Intangibles (Net of Amortizatio

Intangibles (Net of Amortization) and Goodwill	6 Months Ended
	Jun. 30, 2016
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 $9 million at June 30, 2016 and $11 million at December 31, 2015 . The gross carrying amount and accumulated amortization of each type of intangible asset and goodwill are presented in the table below. June 30, 2016 December 31, 2015 (in thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortizing intangible assets Formulas and technology $ 2,760 $ 1,838 $ 88,763 $ 86,861 Contracts 4,476 4,327 4,476 4,103 Customer bases 6,957 3,795 6,977 3,627 Trademarks and trade names 1,531 998 1,549 923 Goodwill 4,476 4,656 $ 20,200 $ 10,958 $ 106,421 $ 95,514 All of the intangibles relate to the petroleum additives segment. The change in the gross carrying amount between 2015 and 2016 is due to certain intangible assets related to formulas and technology becoming fully amortized during 2016, which resulted in a decrease of the gross carrying amount and accumulated amortization, as well as foreign currency fluctuations. There is no accumulated goodwill impairment. Amortization expense was (in thousands): Second quarter ended June 30, 2016 $ 301 Six months ended June 30, 2016 1,354 Second quarter ended June 30, 2015 1,424 Six months ended June 30, 2015 2,851 Estimated amortization expense for the remainder of 2016 , as well as annual amortization expense related to our intangible assets for the next five years, is expected to be (in thousands): 2016 $ 534 2017 728 2018 698 2019 676 2020 315 2021 243 We amortize contracts over 10 years; customer bases over 20 years; formulas and technology over 10 years; and trademarks and trade names over 10 years.

Long-term Debt

Long-term Debt	6 Months Ended
	Jun. 30, 2016
Long-term Debt and Capital Lease Obligations [Abstract]
Long-term Debt	Long-term Debt (in thousands) June 30, December 31, Senior notes - 4.10% due 2022 (net of related deferred financing costs) $ 346,213 $ 345,920 Revolving credit facility 170,000 145,000 Capital lease obligation 5,051 0 $ 521,264 $ 490,920 The outstanding senior notes have an aggregate principal amount of $350 million and are registered under the Securities Act of 1933. The capital lease obligation in the table above is related to the Singapore manufacturing facility. We record our capital lease obligation at the lower of fair market value of the related asset at the inception of the lease or the present value of the total minimum lease payments. The following table provides information related to the unused portion of our revolving credit facility: (in thousands) June 30, December 31, Maximum borrowing capacity under the revolving credit facility $ 650,000 $ 650,000 Outstanding borrowings under the revolving credit facility 170,000 145,000 Outstanding letters of credit 3,666 2,895 Unused portion of revolving credit facility $ 476,334 $ 502,105 The average interest rate for borrowings under our revolving credit facility was 1.9% during the first six months of 2016 and 1.9% during the full year of 2015 . We were in compliance with all covenants under our debt agreements at June 30, 2016 and at December 31, 2015 . On July 15, 2016, we entered into Amendment No. 1 to the revolving credit facility. The amendment allows certain of our foreign subsidiaries to borrow under the original credit agreement dated as of October 28, 2014. We did not incur additional financing fees with the amendment.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
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 (DOJ) advised us in early 2012 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 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. We have no indication at this time that the DOJ intends to take any action against the Company, and have made no provision with respect to these matters in our consolidated financial statements. 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 $16 million at June 30, 2016 and $17 million at December 31, 2015 . 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 $10 million of the total accrual at both June 30, 2016 and December 31, 2015 , using discount rates ranging from 3% to 9% . The aggregate undiscounted amount for these sites was $13 million at June 30, 2016 and $14 million at December 31, 2015 . Of the total accrued for these two sites, the amount related to remediation of groundwater and soil was $4 million for the Louisiana site and $6 million for the Texas site at both June 30, 2016 and December 31, 2015 . 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 June 30, 2016 . The amount accrued for this site is not material.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	6 Months Ended
	Jun. 30, 2016
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 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, and in the future may 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 June 30, 2016 or December 31, 2015 . 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). 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 $30 million at June 30, 2016 and $26 million at December 31, 2015 . 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 June 30, 2016 December 31, 2015 (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 $ 24,785 Accrued expenses and Other noncurrent liabilities $ 21,734 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 Second Quarter Ended Six Months Ended 2016 2015 2016 2015 Goldman Sachs interest rate swap Other income (expense), net $ (1,527 ) $ 1,522 $ (5,381 ) $ (886 ) Credit-risk Related Contingent Features The agreement we have with our current derivative counterparty contains a provision under which 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 June 30, 2016 , 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 $25 million . We have minimum collateral posting thresholds with the counterparty and have posted cash collateral of $30 million as of June 30, 2016 . If required, we could have settled our obligations under the agreement at the termination value of $25 million at June 30, 2016 .

Other Comprehensive Income (Los

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2016
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, 2014 $ (95,119 ) $ (44,041 ) $ (139,160 ) Other comprehensive income (loss) before reclassifications 0 (7,144 ) (7,144 ) Amounts reclassified from accumulated other comprehensive loss (a) 2,706 0 2,706 Other comprehensive income (loss) 2,706 (7,144 ) (4,438 ) Balance at June 30, 2015 $ (92,413 ) $ (51,185 ) $ (143,598 ) Balance at December 31, 2015 $ (69,798 ) $ (74,728 ) $ (144,526 ) Other comprehensive income (loss) before reclassifications 0 (10,323 ) (10,323 ) Amounts reclassified from accumulated other comprehensive loss (a) 1,011 0 1,011 Other comprehensive income (loss) 1,011 (10,323 ) (9,312 ) Balance at June 30, 2016 $ (68,787 ) $ (85,051 ) $ (153,838 ) (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 2015 Annual Report for further information.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
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 six months ended June 30, 2016 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) June 30, 2016 Cash and cash equivalents $ 158,136 $ 158,136 $ 158,136 $ 0 $ 0 Cash deposit for collateralized interest rate swap 29,581 29,581 29,581 0 0 Interest rate swap liability 24,785 24,785 0 24,785 0 December 31, 2015 Cash and cash equivalents $ 93,424 $ 93,424 $ 93,424 $ 0 $ 0 Cash deposit for collateralized interest rate swap 26,130 26,130 26,130 0 0 Interest rate swap liability 21,734 21,734 0 21,734 0 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 analysis reflects the contractual term of the derivative, including the period to maturity. 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 June 30, 2016 and December 31, 2015 , 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 carrying amount of our long-term debt at historical cost, less deferred financing costs related to the senior notes. 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 of our publicly-traded senior notes included in long-term debt in the table below is based on quoted prices as of June 30, 2016 . The fair value is categorized as Level 2. June 30, 2016 December 31, 2015 (in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt (excluding capital lease obligation) $ 516,213 $ 536,625 $ 490,920 $ 515,302

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements On January 1, 2016, we retrospectively adopted Accounting Standards Update (ASU) No. 2015-03, “Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs” (ASU 2015-03), which requires an entity to present debt issuance costs related to recognized debt liability in the balance sheet as a direct deduction from the carrying amount of the debt liability. The adoption of ASU 2015-03 resulted in a $3.6 million reduction of both “Deferred charges and other assets” and “Long-term debt” on the condensed consolidated balance sheet at December 31, 2015 . Also on January 1, 2016, we adopted ASU No. 2015-15, “Interest - Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements” (ASU 2015-15), which allows a company to defer debt issuance costs associated with line-of-credit arrangements, including arrangements with no outstanding borrowings, classify them as an asset, and amortize them over the term of the arrangements. We adopted ASU 2015-15 concurrent with the adoption of ASU 2015-03, as required. Also on January 1, 2016, we early adopted ASU No. 2015-17, “Income Taxes (Topic 740) - Balance Sheet Classification of Deferred Taxes” (ASU 2015-17), which requires the reporting of deferred tax liabilities and deferred tax assets as noncurrent items on the classified balance sheet. We retrospectively adopted the provisions of ASU 2015-17 resulting in $6.4 million of current deferred income taxes being reclassified to non-current on the condensed consolidated balance sheet at December 31, 2015 . On April 1, 2016, we early adopted ASU No. 2016-09, "Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting" (ASU 2016-09). The update involves several aspects of the accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. As required by the ASU, we adopted all of the amendments in the same period. The adoption of ASU 2016-09 did not have a material impact on our consolidated financial statements. Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued ASU 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 this standard 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, as well as those subsequently issued updates that clarify the provisions of ASU 2014-09, will have on our consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)" (ASU 2016-02). The FASB issued ASU 2016-02 to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and requiring disclosures related to certain information about leasing arrangements. Under the new guidance, operating leases are, in most cases, required to be recognized on the balance sheet as a lease asset and liability. A modified retrospective approach is required for the adoption of ASU 2016-02, which is effective for our reporting period beginning January 1, 2019. Early adoption is permitted. We are currently assessing the impact that the adoption of ASU 2016-02 will have on our consolidated financial statements.

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Fair Value Measurements	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 analysis reflects the contractual term of the derivative, including the period to maturity. 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 June 30, 2016 and December 31, 2015 , 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 carrying amount of our long-term debt at historical cost, less deferred financing costs related to the senior notes.
Capital Leases	We record our capital lease obligation at the lower of fair market value of the related asset at the inception of the lease or the present value of the total minimum lease payments.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Consolidated Revenue by Segment	Consolidated Revenue by Segment Second Quarter Ended Six Months Ended (in thousands) 2016 2015 2016 2015 Petroleum additives Lubricant additives $ 432,183 $ 467,072 $ 851,035 $ 920,794 Fuel additives 83,929 90,291 171,220 191,334 Total 516,112 557,363 1,022,255 1,112,128 All other 5,695 3,346 9,479 8,147 Consolidated revenue $ 521,807 $ 560,709 $ 1,031,734 $ 1,120,275
Segment Operating Profit	Segment Operating Profit Second Quarter Ended Six Months Ended (in thousands) 2016 2015 2016 2015 Petroleum additives $ 102,531 $ 94,052 $ 202,920 $ 199,077 All other 1,355 216 1,591 2,315 Segment operating profit 103,886 94,268 204,511 201,392 Corporate, general, and administrative expenses (6,136 ) (5,540 ) (11,406 ) (12,555 ) Interest and financing expenses, net (3,954 ) (3,582 ) (8,142 ) (7,398 ) Gain (loss) on interest rate swap agreement (a) (1,527 ) 1,522 (5,381 ) (886 ) Other income (expense), net (197 ) 368 1,436 120 Income before income tax expense $ 92,072 $ 87,036 $ 181,018 $ 180,673 (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)	6 Months Ended
	Jun. 30, 2016
Defined Benefit Plan Disclosure [Line Items]
Cash Contributions Made And Expected Remaining Contributions For Pension And Postretirement Benefit Plans	The table below shows cash contributions made during the six months ended June 30, 2016 , as well as the remaining cash contributions we expect to make during the year ending December 31, 2016 , for our domestic and foreign pension plans and domestic postretirement benefit plan. (in thousands) Actual Cash Contributions for Six Months Ended June 30, 2016 Expected Remaining Cash Contributions for Year Ending December 31, 2016 Domestic plans Pension benefits $ 9,633 $ 9,633 Postretirement benefits 533 533 Foreign plans Pension benefits 2,892 2,768
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 domestic and foreign pension plans and domestic postretirement benefit plan. An amendment to the domestic postretirement plan was made in 2015 with an effective date of January 1, 2016 providing post-65 medical and prescription drug benefits to retirees through a private healthcare exchange with fixed subsidies to eligible retirees through a health reimbursement account. 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 (credit) and is being amortized into expense. Domestic Pension Benefits Postretirement Benefits Second Quarter Ended June 30, (in thousands) 2016 2015 2016 2015 Service cost $ 3,107 $ 3,240 $ 160 $ 711 Interest cost 3,268 2,982 421 756 Expected return on plan assets (5,753 ) (5,091 ) (319 ) (323 ) Amortization of prior service cost (credit) (16 ) 25 (757 ) 1 Amortization of actuarial net (gain) loss 1,304 1,735 0 0 Net periodic benefit cost (income) $ 1,910 $ 2,891 $ (495 ) $ 1,145 Domestic Pension Benefits Postretirement Benefits Six Months Ended June 30, (in thousands) 2016 2015 2016 2015 Service cost $ 6,214 $ 6,480 $ 321 $ 1,422 Interest cost 6,534 5,965 841 1,513 Expected return on plan assets (11,506 ) (10,183 ) (637 ) (645 ) Amortization of prior service cost (credit) (32 ) 50 (1,514 ) 1 Amortization of actuarial net (gain) loss 2,607 3,470 0 0 Net periodic benefit cost (income) $ 3,817 $ 5,782 $ (989 ) $ 2,291
Foreign [Member]
Defined Benefit Plan Disclosure [Line Items]
Net Periodic Benefit Cost (Income) For Pension And Postretirement Benefit Plans	Foreign Pension Benefits Second Quarter Ended June 30, Six Months Ended June 30, (in thousands) 2016 2015 2016 2015 Service cost $ 1,877 $ 1,905 $ 3,720 $ 3,850 Interest cost 1,294 1,250 2,568 2,519 Expected return on plan assets (1,760 ) (1,765 ) (3,491 ) (3,553 ) Amortization of prior service cost (credit) (22 ) (24 ) (44 ) (48 ) Amortization of actuarial net (gain) loss 268 387 530 785 Net periodic benefit cost (income) $ 1,657 $ 1,753 $ 3,283 $ 3,553

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
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. Second Quarter Ended Six Months Ended (in thousands, except per-share amounts) 2016 2015 2016 2015 Earnings per share numerator: Net income attributable to common shareholders before allocation of earnings to participating securities $ 64,389 $ 58,733 $ 126,320 $ 122,680 Earnings allocated to participating securities 134 127 265 269 Net income attributable to common shareholders after allocation of earnings to participating securities $ 64,255 $ 58,606 $ 126,055 $ 122,411 Earnings per share denominator: Weighted-average number of shares of common stock outstanding - basic and diluted 11,823 12,407 11,831 12,410 Earnings per share - basic and diluted $ 5.43 $ 4.72 $ 10.65 $ 9.86

Intangibles (Net of Amortizat25

Intangibles (Net of Amortization) and Goodwill (Tables)	6 Months Ended
	Jun. 30, 2016
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. June 30, 2016 December 31, 2015 (in thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Amortizing intangible assets Formulas and technology $ 2,760 $ 1,838 $ 88,763 $ 86,861 Contracts 4,476 4,327 4,476 4,103 Customer bases 6,957 3,795 6,977 3,627 Trademarks and trade names 1,531 998 1,549 923 Goodwill 4,476 4,656 $ 20,200 $ 10,958 $ 106,421 $ 95,514
Schedule Of Amortization Expense	Amortization expense was (in thousands): Second quarter ended June 30, 2016 $ 301 Six months ended June 30, 2016 1,354 Second quarter ended June 30, 2015 1,424 Six months ended June 30, 2015 2,851
Schedule Of Estimated Annual Amortization Expense Related To Intangible Assets	Estimated amortization expense for the remainder of 2016 , as well as annual amortization expense related to our intangible assets for the next five years, is expected to be (in thousands): 2016 $ 534 2017 728 2018 698 2019 676 2020 315 2021 243

Long-term Debt (Tables)

Long-term Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Long-term Debt and Capital Lease Obligations [Abstract]
Schedule Of Long-Term Debt	(in thousands) June 30, December 31, Senior notes - 4.10% due 2022 (net of related deferred financing costs) $ 346,213 $ 345,920 Revolving credit facility 170,000 145,000 Capital lease obligation 5,051 0 $ 521,264 $ 490,920
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) June 30, December 31, Maximum borrowing capacity under the revolving credit facility $ 650,000 $ 650,000 Outstanding borrowings under the revolving credit facility 170,000 145,000 Outstanding letters of credit 3,666 2,895 Unused portion of revolving credit facility $ 476,334 $ 502,105

Derivatives and Hedging Activ27

Derivatives and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2016
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 June 30, 2016 December 31, 2015 (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 $ 24,785 Accrued expenses and Other noncurrent liabilities $ 21,734
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 Second Quarter Ended Six Months Ended 2016 2015 2016 2015 Goldman Sachs interest rate swap Other income (expense), net $ (1,527 ) $ 1,522 $ (5,381 ) $ (886 )

Other Comprehensive Income (L28

Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2016
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, 2014 $ (95,119 ) $ (44,041 ) $ (139,160 ) Other comprehensive income (loss) before reclassifications 0 (7,144 ) (7,144 ) Amounts reclassified from accumulated other comprehensive loss (a) 2,706 0 2,706 Other comprehensive income (loss) 2,706 (7,144 ) (4,438 ) Balance at June 30, 2015 $ (92,413 ) $ (51,185 ) $ (143,598 ) Balance at December 31, 2015 $ (69,798 ) $ (74,728 ) $ (144,526 ) Other comprehensive income (loss) before reclassifications 0 (10,323 ) (10,323 ) Amounts reclassified from accumulated other comprehensive loss (a) 1,011 0 1,011 Other comprehensive income (loss) 1,011 (10,323 ) (9,312 ) Balance at June 30, 2016 $ (68,787 ) $ (85,051 ) $ (153,838 ) (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 2015 Annual Report for further information.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2016
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) June 30, 2016 Cash and cash equivalents $ 158,136 $ 158,136 $ 158,136 $ 0 $ 0 Cash deposit for collateralized interest rate swap 29,581 29,581 29,581 0 0 Interest rate swap liability 24,785 24,785 0 24,785 0 December 31, 2015 Cash and cash equivalents $ 93,424 $ 93,424 $ 93,424 $ 0 $ 0 Cash deposit for collateralized interest rate swap 26,130 26,130 26,130 0 0 Interest rate swap liability 21,734 21,734 0 21,734 0
Estimated Fair Value Of Long-Term Debt	June 30, 2016 December 31, 2015 (in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Long-term debt (excluding capital lease obligation) $ 516,213 $ 536,625 $ 490,920 $ 515,302

Segment Information (Consolidat

Segment Information (Consolidated Revenue By Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Information [Line Items]
Consolidated revenue	$ 521,807	$ 560,709	$ 1,031,734	$ 1,120,275
Operating Segments [Member] | Petroleum Additives [Member]
Segment Information [Line Items]
Consolidated revenue	516,112	557,363	1,022,255	1,112,128
Operating Segments [Member] | All Other [Member]
Segment Information [Line Items]
Consolidated revenue	5,695	3,346	9,479	8,147
Operating Segments [Member] | Lubricant Additives [Member] | Petroleum Additives [Member]
Segment Information [Line Items]
Consolidated revenue	432,183	467,072	851,035	920,794
Operating Segments [Member] | Fuel Additives [Member] | Petroleum Additives [Member]
Segment Information [Line Items]
Consolidated revenue	$ 83,929	$ 90,291	$ 171,220	$ 191,334

Segment Information (Segment Op

Segment Information (Segment Operating Profit) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Information [Line Items]
Segment operating profit		$ 97,292	$ 88,935	$ 192,686	$ 188,713
Corporate, general, and administrative expenses		(40,388)	(40,655)	(81,328)	(82,464)
Interest and financing expenses, net		(3,954)	(3,582)	(8,142)	(7,398)
Gain (loss) on interest rate swap agreement	[1]	(1,527)	1,522	(5,381)	(886)
Other income (expense), net		(197)	368	1,436	120
Income before income tax expense		92,072	87,036	181,018	180,673
Operating Segments [Member]
Segment Information [Line Items]
Segment operating profit		103,886	94,268	204,511	201,392
Operating Segments [Member] | Petroleum Additives [Member]
Segment Information [Line Items]
Segment operating profit		102,531	94,052	202,920	199,077
Operating Segments [Member] | All Other [Member]
Segment Information [Line Items]
Segment operating profit		1,355	216	1,591	2,315
Corporate, Non-Segment [Member]
Segment Information [Line Items]
Corporate, general, and administrative expenses		$ (6,136)	$ (5,540)	$ (11,406)	$ (12,555)
[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 Pension And Postretirement Benefit Plans) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)
Domestic Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Actual Cash Contributions, Pension benefits	$ 9,633
Expected Remaining Cash Contributions	9,633
Domestic Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Actual Cash Contributions, Postretirement benefits	533
Expected Remaining Cash Contributions	533
Foreign Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Actual Cash Contributions, Pension benefits	2,892
Expected Remaining Cash Contributions	$ 2,768

Pension Plans and Other Postr33

Pension Plans and Other Postretirement Benefits (Net Periodic Benefit Cost (Income) For Pension And Postretirement Benefit Plans) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Domestic Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 3,107	$ 3,240	$ 6,214	$ 6,480
Interest cost	3,268	2,982	6,534	5,965
Expected return on plan assets	(5,753)	(5,091)	(11,506)	(10,183)
Amortization of prior service cost (credit)	(16)	25	(32)	50
Amortization of actuarial net (gain) loss	1,304	1,735	2,607	3,470
Net periodic benefit cost (income)	1,910	2,891	3,817	5,782
Domestic Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	160	711	321	1,422
Interest cost	421	756	841	1,513
Expected return on plan assets	(319)	(323)	(637)	(645)
Amortization of prior service cost (credit)	(757)	1	(1,514)	1
Amortization of actuarial net (gain) loss	0	0	0	0
Net periodic benefit cost (income)	(495)	1,145	(989)	2,291
Foreign Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	1,877	1,905	3,720	3,850
Interest cost	1,294	1,250	2,568	2,519
Expected return on plan assets	(1,760)	(1,765)	(3,491)	(3,553)
Amortization of prior service cost (credit)	(22)	(24)	(44)	(48)
Amortization of actuarial net (gain) loss	268	387	530	785
Net periodic benefit cost (income)	$ 1,657	$ 1,753	$ 3,283	$ 3,553

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share [Abstract]
Anti-dilutive shares of nonvested restricted stock and restricted stock units that were excluded from the calculation of earnings per share (in shares)			25,255	29,541
Earnings per share numerator:
Net income attributable to common shareholders before allocation of earnings to participating securities	$ 64,389	$ 58,733	$ 126,320	$ 122,680
Earnings allocated to participating securities	134	127	265	269
Net income attributable to common shareholders after allocation of earnings to participating securities	$ 64,255	$ 58,606	$ 126,055	$ 122,411
Earnings per share denominator:
Weighted-average number of shares of common stock outstanding - basic and diluted (in shares)	11,823,000	12,407,000	11,831,000	12,410,000
Earnings per share - basic and diluted (in dollars per share)	$ 5.43	$ 4.72	$ 10.65	$ 9.86

Intangibles (Net of Amortizat35

Intangibles (Net of Amortization) and Goodwill (Narrative) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Net carrying amount of intangibles and goodwill	$ 9,242,000	$ 10,907,000
Accumulated goodwill impairment	$ 0	$ 0
Formulas And Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated economic life, in years	10 years
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

Intangibles (Net of Amortizat36

Intangibles (Net of Amortization) and Goodwill (Schedule Of Information Related To Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Amortizing intangible assets, Accumulated Amortization	$ 10,958	$ 95,514
Goodwill, Gross Carrying Amount	4,476	4,656
Amortizing intangible assets and Goodwill, Gross Carrying Amount	20,200	106,421
Formulas And Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizing intangible assets, Gross Carrying Amount	2,760	88,763
Amortizing intangible assets, Accumulated Amortization	1,838	86,861
Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizing intangible assets, Gross Carrying Amount	4,476	4,476
Amortizing intangible assets, Accumulated Amortization	4,327	4,103
Customer Bases [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizing intangible assets, Gross Carrying Amount	6,957	6,977
Amortizing intangible assets, Accumulated Amortization	3,795	3,627
Trademarks And Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizing intangible assets, Gross Carrying Amount	1,531	1,549
Amortizing intangible assets, Accumulated Amortization	$ 998	$ 923

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		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 301	$ 1,424	$ 1,354	$ 2,851
2,016	534		534
2,017	728		728
2,018	698		698
2,019	676		676
2,020	315		315
2,021	$ 243		$ 243

Long-term Debt (Narrative) (Det

Long-term Debt (Narrative) (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
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	1.90%	1.90%

Long-term Debt (Schedule Of Lon

Long-term Debt (Schedule Of Long-Term Debt) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Long-term debt and capital lease obligation	$ 521,264	$ 490,920
Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt and capital lease obligation	$ 346,213	345,920
Senior notes, interest rate	4.10%
Senior notes, maturity date	2,022
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Long-term debt and capital lease obligation	$ 170,000	145,000
Capital Lease Obligation [Member]
Debt Instrument [Line Items]
Long-term debt and capital lease obligation	$ 5,051	$ 0

Long-term Debt (Schedule Of Unu

Long-term Debt (Schedule Of Unused Portion Of Revolving Credit Facility) (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Long-term debt	$ 521,264,000	$ 490,920,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity under the revolving credit facility	650,000,000	650,000,000
Long-term debt	170,000,000	145,000,000
Outstanding letters of credit	3,666,000	2,895,000
Unused portion of revolving credit facility	$ 476,334,000	$ 502,105,000

Commitments and Contingencies (

Commitments and Contingencies (Environmental) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Site Contingency [Line Items]
Accruals for environmental remediation, dismantling, and decontamination	$ 16	$ 17
Former TEL Plant Site Louisiana And Houston Texas Plant Site [Member]
Site Contingency [Line Items]
Accruals for environmental remediation, dismantling, and decontamination	10	10
Accruals for environmental remediation, dismantling, and decontamination, undiscounted	13	14
Former TEL Plant Site, Louisiana [Member]
Site Contingency [Line Items]
Accrual for remediation of groundwater and soil	4	4
Houston, Texas Plant Site [Member]
Site Contingency [Line Items]
Accrual for remediation of groundwater and soil	$ 6	$ 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	Jun. 30, 2016	Dec. 31, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Termination value of obligations	$ 25,000
Interest Rate Swap [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	$ 29,581	$ 26,130

Derivatives and Hedging Activ43

Derivatives and Hedging Activities (Fair Value Of Derivative Instruments) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
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	$ 24,785	$ 21,734

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		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives	[1]	$ (1,527)	$ 1,522	$ (5,381)	$ (886)
Interest Rate Swap [Member] | Other Income (Expense), Net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Income on Derivatives		$ (1,527)	$ 1,522	$ (5,381)	$ (886)
[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		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Pension Plans and Other Postretirement Benefits, Beginning Balance				$ (69,798)	$ (95,119)
Foreign Currency Translation Adjustments, Beginning Balance				(74,728)	(44,041)
Accumulated Other Comprehensive (Loss) Income, Beginning Balance				(144,526)	(139,160)
Other comprehensive income (loss) before reclassifications, Pension Plans and Other Postretirement Benefits				0	0
Other comprehensive income (loss) before reclassifications, Foreign Currency Translation Adjustments		$ (5,560)	$ 18,520	(10,323)	(7,144)
Other comprehensive income (loss) before reclassifications, Accumulated Other Comprehensive (Loss) Income				(10,323)	(7,144)
Amounts reclassified from accumulated other comprehensive loss, Pension Plans and Other Postretirement Benefits	[1]			1,011	2,706
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				1,011	2,706
Total pension plans and other postretirement benefits		509	1,349	1,011	2,706
Other comprehensive income (loss), Foreign Currency Translation Adjustments				(10,323)	(7,144)
Other comprehensive income (loss)		(5,051)	19,869	(9,312)	(4,438)
Pension Plans and Other Postretirement Benefits, Ending Balance		(68,787)	(92,413)	(68,787)	(92,413)
Foreign Currency Translation Adjustments, Ending Balance		(85,051)	(51,185)	(85,051)	(51,185)
Accumulated Other Comprehensive (Loss) Income, Ending Balance		$ (153,838)	$ (143,598)	$ (153,838)	$ (143,598)
[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 2015 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	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Fair Value Measurements [Line Items]
Cash and cash equivalents, Carrying Amount in Condensed Consolidated Balance Sheets	$ 158,136	$ 93,424	$ 126,172	$ 103,003
Carrying Amount in Condensed Consolidated Balance Sheets [Member]
Fair Value Measurements [Line Items]
Cash and cash equivalents, Carrying Amount in Condensed Consolidated Balance Sheets	158,136	93,424
Interest rate swap liability, Carrying Amount in Condensed Consolidated Balance Sheets	24,785	21,734
Fair Value [Member]
Fair Value Measurements [Line Items]
Cash and cash equivalents, Fair Value	158,136	93,424
Cash deposit for collateralized interest rate swap, Fair Value	29,581	26,130
Interest rate swap liability, Fair Value	24,785	21,734
Fair Value, Level 1 [Member]
Fair Value Measurements [Line Items]
Cash and cash equivalents, Fair Value	158,136	93,424
Cash deposit for collateralized interest rate swap, Fair Value	29,581	26,130
Interest rate swap liability, Fair Value	0	0
Fair Value, Level 2 [Member]
Fair Value Measurements [Line Items]
Cash and cash equivalents, Fair Value	0	0
Cash deposit for collateralized interest rate swap, Fair Value	0	0
Interest rate swap liability, Fair Value	24,785	21,734
Fair Value, Level 3 [Member]
Fair Value Measurements [Line Items]
Cash and cash equivalents, Fair Value	0	0
Cash deposit for collateralized interest rate swap, Fair Value	0	0
Interest rate swap liability, Fair Value	0	0
Interest Rate Swap [Member]
Fair Value Measurements [Line Items]
Cash deposit for collateralized interest rate swap, Carrying Amount in Condensed Consolidated Balance Sheets	$ 29,581	$ 26,130

Fair Value Measurements (Estima

Fair Value Measurements (Estimated Fair Value Of Long-Term Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Long-term debt (excluding capital lease obligation)	$ 516,213	$ 490,920
Long-term debt (excluding capital lease obligation), Fair Value	$ 536,625	$ 515,302

Recent Accounting Pronounceme48

Recent Accounting Pronouncements (Narrative) (Details) $ in Millions	Dec. 31, 2015USD ($)
ASU 2015-03 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of ASU 2015-03 reduction of Deferred charges and other assets and Long-term debt	$ (3.6)
ASU 2015-17 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of ASU 2015-17 current deferred income taxes reclassified to non-current	$ 6.4