Kraton (KRA) 10-Q 26 Jul 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Jul. 23, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	Kraton Corp
Entity Central Index Key	1,321,646
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Trading Symbol	KRA
Amendment Flag	false
Entity Common Stock, Shares Outstanding		31,885,521

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 55,304	$ 89,052
Receivables, net of allowances of $1,025 and $824	271,619	196,683
Inventories of products, net	394,033	367,796
Inventories of materials and supplies, net	27,675	25,643
Prepaid expenses	14,465	13,963
Other current assets	29,364	36,615
Total current assets	792,460	729,752
Property, plant, and equipment, less accumulated depreciation of $560,012 and $526,759	929,765	958,723
Goodwill	773,723	774,319
Intangible assets, less accumulated amortization of $222,126 and $197,318	383,296	406,863
Investment in unconsolidated joint venture	12,043	12,380
Debt issuance costs	1,755	2,340
Deferred income taxes	6,177	8,462
Other long-term assets	39,242	39,688
Total assets	2,938,461	2,932,527
Current liabilities:
Current portion of long-term debt	39,373	42,647
Accounts payable-trade	180,713	169,265
Other payables and accruals	93,748	119,624
Due to related party	16,626	19,176
Total current liabilities	330,460	350,712
Long-term debt, net of current portion	1,607,484	1,574,881
Deferred income taxes	143,086	148,148
Other long-term liabilities	189,844	192,267
Total liabilities	2,270,874	2,266,008
Commitments and contingencies (note 10)
Kraton stockholders' equity:
Preferred stock, $0.01 par value; 100,000 shares authorized; none issued	0	0
Common stock, $0.01 par value; 500,000 shares authorized; 31,886 shares issued and outstanding at June 30, 2018; 31,605 shares issued and outstanding at December 31, 2017	319	316
Additional paid in capital	381,569	377,957
Retained earnings	360,778	356,503
Accumulated other comprehensive loss	(105,042)	(98,295)
Total Kraton stockholders' equity	637,624	636,481
Noncontrolling interest	29,963	30,038
Total equity	667,587	666,519
Total liabilities and equity	$ 2,938,461	$ 2,932,527

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Receivables, allowances	$ 1,025	$ 824
Accumulated depreciation	560,012	526,759
Total accumulated amortization	$ 222,126	$ 197,318
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	31,886,000	31,605,000
Common stock, shares outstanding (in shares)	31,886,000	31,605,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Statement [Abstract]
Revenue	$ 538,395	$ 525,320	$ 1,040,787	$ 983,445
Cost of goods sold	368,019	377,483	723,360	691,683
Gross profit	170,376	147,837	317,427	291,762
Operating expenses:
Research and development	10,474	9,647	21,271	19,884
Selling, general, and administrative	41,975	41,132	80,698	81,546
Depreciation and amortization	35,140	34,590	70,516	67,733
Operating income	82,787	62,468	144,942	122,599
Other expense	(1,107)	(863)	(2,220)	(1,671)
Loss on extinguishment of debt	(72,330)	0	(79,921)	(19,738)
Earnings of unconsolidated joint venture	120	118	257	245
Interest expense, net	(25,416)	(34,444)	(54,692)	(68,749)
Income (loss) before income taxes	(15,946)	27,279	8,366	32,686
Income tax benefit (expense)	1,842	(3,854)	(409)	(5,072)
Consolidated net income (loss)	(14,104)	23,425	7,957	27,614
Net (income) loss attributable to noncontrolling interest	(826)	2,136	(815)	4,360
Net income (loss) attributable to Kraton	$ (14,930)	$ 25,561	$ 7,142	$ 31,974
Earnings (loss) per common share:
Basic (in dollars per share)	$ (0.47)	$ 0.82	$ 0.22	$ 1.03
Diluted (in dollars per share)	$ (0.47)	$ 0.81	$ 0.22	$ 1.01
Weighted average common shares outstanding:
Basic (in shares)	31,441	30,585	31,342	30,508
Diluted (in share)	31,441	31,066	31,797	30,952

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income (loss) attributable to Kraton	$ (14,930,000)	$ 25,561,000	$ 7,142,000	$ 31,974,000
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax of $0	(14,575,000)	29,646,000	(10,956,000)	41,781,000
Unrealized gain (loss) on cash flow hedges, net of tax expense of $210, benefit of $421, expense of $490 and $30, respectively	674,000	(749,000)	4,155,000	94,000
Reclassification of gain on cash flow hedge	0	0	(2,587,000)	(41,000)
Unrealized gain on net investment hedge, net of tax expense of $825 for both periods	2,641,000	0	2,641,000	0
Other comprehensive income (loss), net of tax	(11,260,000)	28,897,000	(6,747,000)	41,834,000
Comprehensive income (loss) attributable to Kraton	(26,190,000)	54,458,000	395,000	73,808,000
Comprehensive loss attributable to noncontrolling interest	(597,000)	(2,133,000)	(75,000)	(2,471,000)
Consolidated comprehensive income (loss)	$ (26,787,000)	$ 52,325,000	$ 320,000	$ 71,337,000

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax effect	$ 0	$ 0	$ 0	$ 0
Unrealized gain (loss) on cash flow hedges, tax effect	210	(421)	490	30
Unrealized gain on net investment hedge, tax effect	$ 825	$ 0	$ 825	$ 0

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Total Kraton Stockholders' Equity	Common Stock	Additional Paid in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Beginning balance at Dec. 31, 2016						$ (158,530)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 27,614
Ending balance at Jun. 30, 2017						(116,696)
Beginning balance at Dec. 31, 2017	666,519	$ 636,481	$ 316	$ 377,957	$ 356,503	(98,295)	$ 30,038
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	7,957	7,142			7,142		815
Other comprehensive loss	(7,637)	(6,747)				(6,747)	(890)
Retired treasury stock from employee tax withholdings	(6,009)	(6,009)	1	(3,143)	(2,867)
Exercise of stock options	1,632	1,632	1	1,631
Non-cash compensation related to equity awards	5,125	5,125	1	5,124
Ending balance at Jun. 30, 2018	$ 667,587	$ 637,624	$ 319	$ 381,569	$ 360,778	$ (105,042)	$ 29,963

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Consolidated net income	$ 7,957	$ 27,614
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation and amortization	70,516	67,733
Amortization of debt original issue discount	1,675	3,610
Amortization of debt issuance costs	3,325	4,371
(Gain) loss on disposal of property, plant, and equipment	360	(13)
Loss on extinguishment of debt	79,921	19,738
Earnings from unconsolidated joint venture, net of dividends received	288	193
Deferred income tax benefit	(2,656)	(317)
Share-based compensation	5,125	5,147
Decrease (increase) in:
Accounts receivable	(80,178)	(42,452)
Inventories of products, materials, and supplies	(35,134)	(55,562)
Other assets	5,608	(7,683)
Increase (decrease) in:
Accounts payable-trade	20,175	342
Other payables and accruals	(25,547)	(3,187)
Other long-term liabilities	(529)	2,512
Due to related party	(2,812)	4,123
Net cash provided by operating activities	48,094	26,169
CASH FLOWS FROM INVESTING ACTIVITIES
Kraton purchase of property, plant, and equipment	(42,223)	(50,791)
KFPC purchase of property, plant, and equipment	(653)	(11,205)
Purchase of software and other intangibles	(3,228)	(3,470)
Net cash used in investing activities	(46,104)	(65,466)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from debt	713,540	432,797
Repayments of debt	(718,370)	(424,797)
KFPC proceeds from debt	10,197	39,898
KFPC repayments of debt	(28,661)	0
Capital lease payments	(520)	(454)
Purchase of treasury stock	(6,009)	(1,511)
Proceeds from the exercise of stock options	1,632	1,601
Settlement of interest rate swap	2,587	0
Debt issuance costs	(10,345)	(9,971)
Net cash provided by (used in) financing activities	(35,949)	37,563
Effect of exchange rate differences on cash	211	8,697
Net increase (decrease) in cash and cash equivalents	(33,748)	6,963
Cash and cash equivalents, beginning of period	89,052	121,749
Cash and cash equivalents, end of period	55,304	128,712
Supplemental disclosures:
Cash paid during the period for income taxes, net of refunds received	1,470	8,167
Cash paid during the period for interest, net of capitalized interest	57,063	53,484
Capitalized interest	1,577	2,313
Supplemental non-cash disclosures:
Property, plant, and equipment accruals	$ 13,801	$ 17,534

General

General	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
General	General Description of our Business. We are a leading global specialty chemicals company that manufactures styrenic block copolymers (“SBCs”), specialty polymers, and high-value performance products primarily derived from pine wood pulping co-products. SBCs are highly-engineered synthetic elastomers, which we originally invented and commercialized. Our SBCs enhance the performance of numerous products by imparting greater flexibility, resilience, strength, durability, and processability, and are used in a wide range of applications, including adhesives, coatings, consumer and personal care products, sealants, lubricants, medical, packaging, automotive, and paving and roofing products. We manufacture and sell isoprene rubber and isoprene rubber latex, which are non-SBC products primarily used in applications such as medical products, personal care, adhesives, tackifiers, paints, and coatings. We refine and further upgrade crude tall oil and crude sulfate turpentine, into value-added specialty chemicals. These pine-based specialty products are sold into adhesive, road and construction, and tire markets, and we produce and sell a broad range of performance chemicals (which we formerly referred to as chemical intermediates) into markets that include fuel additives, oilfield chemicals, coatings, metalworking fluids and lubricants, inks, flavors and fragrances, and mining. Basis of Presentation. The accompanying unaudited Condensed Consolidated Financial Statements presented in this report are for us and our consolidated subsidiaries, each of which is a wholly-owned subsidiary, except our 50% investment in our joint venture, Kraton Formosa Polymers Corporation (“KFPC”), located in Mailiao, Taiwan. KFPC is a variable interest entity for which we have determined that we are the primary beneficiary and, therefore, have consolidated into our financial statements. Our 50% investment in our joint venture located in Kashima, Japan, is accounted for under the equity method of accounting. All significant intercompany transactions have been eliminated. These interim financial statements should be read in conjunction with the consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2017 and reflect all normal recurring adjustments that are, in the opinion of management, necessary to present fairly our results of operations and financial position. Amounts reported in our Condensed Consolidated Statements of Operations are not necessarily indicative of amounts expected for the respective annual periods or any other interim period, in particular due to the effect of seasonal changes and weather conditions that typically affect our sales into paving, roadmarking, roofing, and construction applications. In particular, sales volumes into these applications are generally higher in the second and third quarter of the calendar year as warm and dry weather is more conducive to paving and roofing activity. Reclassifications. Certain amounts reported in the condensed consolidated financial statements and notes to the consolidated financial statements for the prior periods have been reclassified to conform to the current reporting presentation. Significant Accounting Policies. Our significant accounting policies have been disclosed in Note 1 Description of Business, Basis of Presentation, and Significant Accounting Policies in our most recent Annual Report on Form 10-K. Except for the changes below, the Company has consistently applied the accounting policies presented in the Condensed Consolidated Financial Statements. Revenue Recognition. The Company adopted Topic 606 Revenue from Contracts with Customers with a date of initial adoption of January 1, 2018. As a result, the Company has changed its accounting policy for revenue recognition and applied Topic 606 using the modified retrospective basis. Typically, this approach would result in recognizing the cumulative effect of initially applying Topic 606 as an adjustment to the opening balance of equity at January 1, 2018. The Company did not have a material change in financial position, results of operations, or cash flows and therefore there is no cumulative impact recorded to opening equity. There have been no other changes to the accounting policies, which are disclosed in our most recent Annual Report on Form 10-K. The accompanying unaudited Condensed Consolidated Financial Statements we present in this report have been prepared in accordance with our policies. Use of Estimates. The preparation of these Condensed Consolidated Financial Statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include: • the useful lives of long-lived assets; • estimates of fair value for assets acquired and liabilities assumed in business combinations; • allowances for doubtful accounts and sales returns; • the valuation of derivatives, deferred tax assets, property, plant and equipment, intangible assets, inventory, investments, and share-based compensation; and • liabilities for employee benefit obligations, environmental matters, asset retirement obligations, income tax uncertainties, and other contingencies. Income Tax in Interim Periods. We conduct operations in separate legal entities in different jurisdictions. As a result, income tax amounts are reflected in these Condensed Consolidated Financial Statements for each of those jurisdictions. Tax laws and tax rates vary substantially in these jurisdictions and are subject to change based on the political and economic climate in those countries. We file our tax returns in accordance with our interpretations of each jurisdiction’s tax laws. We record our tax provision or benefit on an interim basis using the estimated annual effective tax rate. This rate is applied to the current period ordinary income or loss to determine the income tax provision or benefit allocated to the interim period. Losses from jurisdictions for which no benefit can be realized and the income tax effects of unusual and infrequent items are excluded from the estimated annual effective tax rate. Valuation allowances are provided against the future tax benefits that arise from the losses in jurisdictions for which there is uncertainty that they may be realized. The effects of unusual and infrequent items are recognized in the impacted interim period as discrete items. The estimated annual effective tax rate may be significantly affected by nondeductible expenses and by our projected earnings mix by tax jurisdiction. Adjustments to the estimated annual effective income tax rate are recognized in the period during which such estimates are revised. We have established valuation allowances against a variety of deferred tax assets, including net operating loss carryforwards, foreign tax credits and other income tax credits. Valuation allowances take into consideration our expected ability to realize these deferred tax assets and reduce the value of such assets to the amount that is deemed more likely than not to be recoverable. Our ability to realize these deferred tax assets is dependent on achieving our forecast of future taxable operating income over an extended period of time. We review our forecast in relation to actual results and expected trends on a quarterly basis. If we fail to achieve our operating income targets, we may change our assessment regarding the recoverability of our net deferred tax assets and such change could result in a valuation allowance being recorded against some or all of our net deferred tax assets. A change in our valuation allowance would impact our income tax benefit (expense) and our stockholders’ equity and could have a significant impact on our results of operations or financial condition in future periods.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2018
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Accounting Standards Adopted in the Current Period We have implemented all new accounting pronouncements that are in effect and that management believes would materially affect our financial statements. In May 2014, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers , updated by ASU No. 2015-14 Deferral of the Effective Date , which provides a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most current revenue recognition guidance. In August 2015, the effective date for the standard was deferred by one year and the standard is now effective for public entities for annual and interim periods beginning after December 15, 2017. Early adoption is permitted based on the original effective date. Our revenue is primarily generated from the sale of finished product to customers. Those sales predominantly contain a single delivery element and revenue is recognized at a single point in time, when ownership and risk of loss transfers. These are largely un-impacted by the new standard. We completed our analysis during 2017 and there is no material change to our financial position, results of operations, and cash flows. We adopted ASU No. 2014-09 and its amendment on a modified retrospective basis effective January 1, 2018. Although there is no material impact, we have expanded disclosures in our notes to our condensed consolidated financial statements related to revenue recognition under the new standard. We have implemented changes to our accounting policies and practices, business processes, systems, and controls to support the new revenue recognition and disclosure requirements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230) . The ASU addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, and early adoption is permitted. Our analysis of ASU 2016-15 was completed during 2017 and there is no material change to our financial position, results of operations, and cash flows. We adopted ASU 2016-15 effective January 1, 2018. In March 2017, the FASB issued ASU 2017-07, Compensation-Retirement Benefits (Topic 715)-Improving the Presentation of Net Periodic Pension Cost and Net Periodic Post-retirement Benefit Cost . The standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, and early adoption is permitted as of the beginning of a year for which financial statements (interim and annual) have not been issued. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component. Our service costs were $3.4 million and $3.2 million for the six months ended June 30, 2018 and 2017 , respectively. We adopted ASU 2017-07 effective January 1, 2018 and net periodic benefit costs other than the service cost component have been included in Other expense on our Condensed Consolidated Statements of Operations for all reported periods. New Accounting Standards to be Adopted in Future Periods In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). This standard requires that an entity must recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of twelve months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and liabilities. The standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018 and early adoption is permitted. We are still analyzing the quantitative impact of adoption; therefore, the effects of this standard on our financial position, results of operations, and cash flows are not yet known. As we complete our overall assessment, we are identifying and preparing to implement changes to our accounting policies and practices, business processes, systems and controls to support the new standard and disclosure requirements. Our assessment will be completed during fiscal year 2018 and we expect to adopt the ASU 2016-02 effective January 1, 2019. In January 2017, the FASB issued ASU 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment . This standard is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019, and early adoption is permitted for annual or interim goodwill impairment tests performed on testing dates after January 1, 2017. Our evaluation of this standard is currently ongoing. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . This standard is effective for fiscal years beginning after December 15, 2018, and early adoption is permitted for any interim period after issuance of the ASU. Our evaluation of this standard is currently ongoing and we expect to adopt ASU 2017-12 effective on January 1, 2019. In February 2018, the FASB issued ASU 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . This standard is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted for any interim period after issuance of the ASU. Our evaluation of this standard is currently ongoing and we expect to adopt ASU 2018-02 effective on January 1, 2019.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Revenue is recognized when obligations under the terms of a contract with our customer are satisfied; generally this occurs at a point in time when the transfer of risk and title to the product transfers to the customer. Our standard terms of delivery are included in our contracts of sale, order confirmation documents, and invoices. As such, all revenue is considered revenue recognized from contracts with customers and we do not have other sources of revenue. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or providing services. Revenue is recognized net of sales tax, value-added taxes, and other taxes. Shipping and other transportation costs charged to customers are recorded in both revenue and cost of goods sold. We do not have any material significant payment terms as payment is received at or shortly after the point of sale. Certain customers may receive cash-based incentives (including rebates, price supports, and sales commission), which are accounted for as variable consideration. We estimate rebates and price supports based on the expected amount to be provided to customers and reduce revenues recognized once the performance obligation has been met. Sales commissions are recorded as an increase in cost of goods sold once the performance obligation has been met. We do not expect to have significant changes in our estimates for variable considerations. We have deferred revenue of $14.9 million related to contractual commitments with customers that the performance obligation will be satisfied over time, which will range from one to ten years. The revenue associated with these performance obligations is recognized as the obligation is satisfied, which occurs as a volume based metric over time when the transfer of risk and title of finished products transfer to the customer. Occasionally, we enter into bill-and-hold contracts, where we invoice the customer for products even though we retain possession of the products until a point in time in the future when the products will be shipped to the customer. In these contracts, the primary performance obligation is satisfied at a point in time when the product is segregated from our general inventory, it's ready for shipment to customer, and we do not have the ability to use the product or direct it to another customer. Additionally, we have a secondary performance obligation related to custodial costs, including storage and freight, which is satisfied over time once the product has been delivered to the customer. During the three and six months ended June 30, 2018 , we recognized $0.7 million and $4.5 million of revenue related to these arrangements, respectively. Custodial costs of $0.1 million have been accrued as of June 30, 2018 and will be recognized as revenue once the remaining performance obligation is met. We disaggregate our revenue by segment product lines, which is how we market our products and review results of operations. The following tables disaggregate our segment revenue by major product lines: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Performance Products $ 180,738 $ 191,134 $ 326,468 $ 332,852 Specialty Polymers 108,289 100,479 212,307 191,399 Cariflex 48,976 43,354 88,501 81,402 Other 147 151 (55 ) 413 Polymer Product Line Revenue $ 338,150 $ 335,118 $ 627,221 $ 606,066 Effective January 1, 2018, results for our Roads and Construction target market have been consolidated into our Adhesives and Performance Chemicals product lines to better align customer portfolio and end usage. We have adjusted the three and six months ended June 30, 2017 to conform with the respective 2018 presentations. Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Adhesives $ 73,978 $ 77,111 $ 147,126 $ 150,990 Performance Chemicals 114,813 100,304 237,754 201,883 Tires 11,454 12,787 28,686 24,506 Chemical Product Line Revenue $ 200,245 $ 190,202 $ 413,566 $ 377,379 June 30, 2018 December 31, 2017 Contract receivables (1) $ 275,050 $ 196,951 Contract liabilities (2) $ 14,859 $ 16,257 ____________________________________________________ (1) Contract receivables are recorded within receivables, net of allowances on our Condensed Consolidated Balance Sheets. (2) Our contract liability decreased by $1.0 million , as a result of meeting the performance obligation, which was recognized in our Specialty Polymers product line revenue, and decreased approximately $0.4 million due to the change in currency exchange rates.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	Share-Based Compensation We account for share-based awards under the provisions of ASC 718, Compensation—Stock Compensation . Accordingly, share-based compensation cost is measured at the grant date based on the fair value of the award and we expense these costs using the straight-line method over the requisite service period. Share-based compensation expense was $2.2 million for both the three months ended June 30, 2018 and 2017 , and $5.1 million for both the six months ended June 30, 2018 and 2017 .

Detail of Certain Balance Sheet

Detail of Certain Balance Sheet Accounts	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Detail of Certain Balance Sheet Accounts	Detail of Certain Balance Sheet Accounts June 30, 2018 December 31, 2017 (In thousands) Inventories of products: Finished products $ 286,236 $ 270,562 Work in progress 6,602 6,925 Raw materials 108,987 100,594 Inventories of products, gross 401,825 378,081 Inventory reserves (7,792 ) (10,285 ) Total inventories of products, net $ 394,033 $ 367,796 Intangible assets: Contractual agreements $ 263,429 $ 264,581 Technology 146,007 146,449 Customer relationships 60,436 60,547 Tradenames/trademarks 80,363 80,138 Software 55,187 52,466 Intangible assets 605,422 604,181 Less accumulated amortization: Contractual agreements 55,201 44,435 Technology 57,553 53,086 Customer relationships 35,639 33,871 Tradenames/trademarks 39,284 35,770 Software 34,449 30,156 Total accumulated amortization 222,126 197,318 Intangible assets, net of accumulated amortization $ 383,296 $ 406,863 Other payables and accruals: Employee related $ 28,649 $ 41,250 Interest payable 15,922 23,615 Property, plant, and equipment accruals 10,391 10,404 Other 38,786 44,355 Total other payables and accruals $ 93,748 $ 119,624 Other long-term liabilities: Pension and other post-retirement benefits $ 143,397 $ 147,209 Other 46,447 45,058 Total other long-term liabilities $ 189,844 $ 192,267 Changes in accumulated other comprehensive income (loss) by component were as follows: Cumulative Foreign Currency Translation Net Unrealized Gain on Cash Flow Hedges Net Unrealized Gain (Loss) on Net Investment Hedges Benefit Plans Liability, Net of Tax Total (In thousands) December 31, 2016 $ (72,731 ) $ 515 $ (1,926 ) $ (84,388 ) $ (158,530 ) Other comprehensive income before reclassifications 41,781 94 — — 41,875 Amounts reclassified from accumulated other comprehensive loss — (41 ) — — (41 ) Net other comprehensive income for the year 41,781 53 — — 41,834 June 30, 2017 $ (30,950 ) $ 568 $ (1,926 ) $ (84,388 ) $ (116,696 ) December 31, 2017 $ (9,654 ) $ 4,550 $ (1,926 ) $ (91,265 ) $ (98,295 ) Other comprehensive income (loss) before reclassifications (10,956 ) 4,155 2,641 — (4,160 ) Amounts reclassified from accumulated other comprehensive loss — (2,587 ) — — (2,587 ) Net other comprehensive income (loss) for the year (10,956 ) 1,568 2,641 — (6,747 ) June 30, 2018 $ (20,610 ) $ 6,118 $ 715 $ (91,265 ) $ (105,042 )

Earnings Per Share ("EPS")

Earnings Per Share ("EPS")	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Share ("EPS")	Earnings Per Share (“EPS”) Basic EPS is computed by dividing net income attributable to Kraton by the weighted-average number of shares outstanding during the period. Diluted EPS is computed by dividing net income attributable to Kraton by the diluted weighted-average number of shares outstanding during the period and, accordingly, reflects the potential dilution that could occur if securities or other agreements to issue common stock, such as stock options, were exercised, settled or converted into common stock and were dilutive. The diluted weighted-average number of shares used in our diluted EPS calculation is determined using the treasury stock method. The calculations of basic and diluted EPS are as follows: Three Months Ended June 30, 2018 Three Months Ended June 30, 2017 Net Loss Attributable to Kraton Weighted Average Shares Outstanding Loss Per Share Net Income Attributable to Kraton Weighted Average Shares Outstanding Earnings Per Share (In thousands, except per share data) Basic: As reported $ (14,930 ) 31,890 $ 25,561 31,197 Amounts allocated to unvested restricted shares 210 (449 ) (501 ) (612 ) Amounts available to common stockholders (14,720 ) 31,441 $ (0.47 ) 25,060 30,585 $ 0.82 Diluted: Amounts allocated to unvested restricted shares (210 ) 449 501 612 Non participating share units — — — 181 Stock options added under the treasury stock method — — — 300 Amounts reallocated to unvested restricted shares 210 (449 ) (494 ) (612 ) Amounts available to stockholders and assumed conversions $ (14,720 ) 31,441 $ (0.47 ) $ 25,067 31,066 $ 0.81 Six Months Ended June 30, 2018 Six Months Ended June 30, 2017 Net Income Attributable to Kraton Weighted Average Shares Outstanding Earnings Per Share Net Income Attributable to Kraton Weighted Average Shares Outstanding Earnings Per Share (In thousands, except per share data) Basic: As reported $ 7,142 31,831 $ 31,974 31,115 Amounts allocated to unvested restricted shares (110 ) (489 ) (624 ) (607 ) Amounts available to common stockholders 7,032 31,342 $ 0.22 31,350 30,508 $ 1.03 Diluted: Amounts allocated to unvested restricted shares 110 489 624 607 Non participating share units — 201 — 184 Stock options added under the treasury stock method — 254 — 260 Amounts reallocated to unvested restricted shares (108 ) (489 ) (615 ) (607 ) Amounts available to stockholders and assumed conversions $ 7,034 31,797 $ 0.22 $ 31,359 30,952 $ 1.01

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consists of the following: June 30, 2018 December 31, 2017 Principal Discount Debt Issuance Costs Total Principal Discount Debt Issuance Costs Total (In thousands) USD Tranche $ 390,000 $ (7,922 ) $ (10,871 ) $ 371,207 $ 485,000 $ (13,373 ) $ (13,986 ) $ 457,641 Euro Tranche 367,638 — (5,163 ) 362,475 198,265 — (3,517 ) 194,748 10.5% Senior Notes — — — — 440,000 (13,267 ) (14,409 ) 412,324 7.0% Senior Notes 400,000 — (7,023 ) 392,977 400,000 — (7,424 ) 392,576 5.25% Senior Notes 338,461 — (5,665 ) 332,796 — — — — ABL Facility 50,000 — — 50,000 — — — — KFPC Loan Agreement 129,428 — (143 ) 129,285 149,919 — (196 ) 149,723 KFPC Revolving Facilities 6,550 — — 6,550 8,430 — — 8,430 Capital lease obligation 1,567 — — 1,567 2,086 — — 2,086 Total debt 1,683,644 (7,922 ) (28,865 ) 1,646,857 1,683,700 (26,640 ) (39,532 ) 1,617,528 Less current portion of total debt 39,373 — — 39,373 42,647 — — 42,647 Long-term debt $ 1,644,271 $ (7,922 ) $ (28,865 ) $ 1,607,484 $ 1,641,053 $ (26,640 ) $ (39,532 ) $ 1,574,881 Senior Secured Term Loan Facility. As of June 30, 2018 , we had outstanding borrowings under the U.S. dollar denominated tranche (the “USD Tranche”) of our senior secured term loan facility (the “Term Loan Facility”) of $390.0 million and outstanding borrowings under the Euro denominated tranche (the “Euro Tranche”) of the Term Loan Facility of €315.0 million , or approximately $367.6 million . On March 8, 2018 , we entered into a fifth amendment to the credit agreement governing the Term Loan Facility (the “Credit Agreement”) pursuant to which borrowings under the Euro Tranche were increased by €150.0 million , we reduced our USD Tranche interest rate applicable margin to 2.5% and alternative base rate applicable margin to 1.5% , we reduced our Euro Tranche interest rate applicable margin to 2.0% , and extended the maturity date of the Term Loan Facility by three years to March 8, 2025 . The proceeds from the additional borrowings under the Euro Tranche were used, together with available cash, to pay down $185.0 million of the then outstanding borrowings under the USD Tranche. On May 24, 2018, we entered into a sixth and seventh amendment to the Credit Agreement. The seventh amendment increased borrowings under the USD Tranche by $90.0 million , with the proceeds of such additional borrowing being used to fund a portion of the refinancing of the 10.5% Senior Notes discussed below. The sixth amendment provided for certain technical amendments to the Term Loan Facility to allow for greater flexibility in the repayment of unsecured indebtedness. For a summary of additional terms of the Term Loan Facility, see Note 8 Long-Term Debt to the consolidated financial statements set forth in our most recently filed Annual Report on Form 10-K. As of the date of this filing, the effective interest rate for the USD Tranche is LIBOR plus 2.5% and the effective interest rate for the Euro Tranche is 2.75% . The Term Loan Facility contains a number of customary affirmative and negative covenants and we were in compliance with the covenants as of the date of this filing. 10.5% Senior Notes due 2023. During the three months ended June 30, 2018 , approximately $157.6 million of the 10.5% Senior Notes due 2023 (the “ 10.5% Senior Notes”) were repurchased in a cash tender offer for any and all of the outstanding $440.0 million aggregate principal amount of 10.5% Senior Notes. The 10.5% Senior Notes that remained outstanding following the tender offer were redeemed on June 13, 2018. The consideration and redemption price plus, in each case, accrued and unpaid interest for the tender offer and redemption, respectively, and the fees and expenses of refinancing the 10.5% Senior Notes were paid with the net proceeds of the offering of the 5.25% Senior Notes (as defined below) and the additional $90.0 million borrowings under our USD Tranche, together with $60.0 million borrowings under the ABL Facility (as defined below), and cash on hand. 7.0% Senior Notes due 2025. Kraton Polymers LLC and its wholly-owned financing subsidiary Kraton Polymers Capital Corporation issued $400.0 million aggregate principal amount of 7.0% Senior Notes due 2025 (the “ 7.0% Senior Notes”) in March 2017, which mature on April 15, 2025. The 7.0% Senior Notes are general unsecured, senior obligations, and are unconditionally guaranteed on a senior unsecured basis by each of Kraton Corporation and certain of our wholly-owned domestic subsidiaries. We pay interest on the Senior Notes at 7.0% per annum, semi-annually in arrears on January 15 and July 15 of each year. 5.25% Senior Notes due 2026. Kraton Polymers LLC and its wholly-owned financing subsidiary Kraton Polymers Capital Corporation issued €290.0 million , or approximately $338.5 million as of June 30, 2018 , aggregate principal amount of 5.25% Senior Notes due 2026 (the “ 5.25% Senior Notes”) in May 2018, which mature on May 15, 2026. The 5.25% Senior Notes are general unsecured, senior obligations, and are unconditionally guaranteed on a senior unsecured basis by each of Kraton Corporation and certain of our wholly-owned domestic subsidiaries. We will pay interest on the Senior Notes at 5.25% per annum, semi-annually in arrears on May 15 and November 15 of each year, commencing November 15, 2018. The net proceeds of the offering of the 5.25% Senior Notes were used to fund a portion of the refinancing of the 10.5% Senior Notes discussed above. ABL Facility. Our asset-based revolving credit facility provides financing of up to $250.0 million (the “ABL Facility”). The ABL Facility also provides that we have the right at any time to request up to $100.0 million of additional commitments, provided that we satisfy certain additional conditions. During the three months ended June 30, 2018 , we borrowed $60.0 million to fund a portion of the refinancing of the 10.5% Senior Notes discussed above. Our outstanding borrowings under the ABL facility were $50.0 million as of June 30, 2018 . Borrowing availability under the ABL Facility is subject to borrowing base limitations based on the level of receivables and inventory available for security. Revolver commitments under the ABL Facility consist of U.S. and Dutch revolving credit facility commitments, and the terms of the ABL Facility require the U.S. revolver commitment comprises at least 60.0% of the commitments under the ABL Facility. The ABL Facility contains a number of customary affirmative and negative covenants and we were in compliance with the covenants as of the date of this filing. For a summary of additional terms of the ABL Facility, see Note 8 Long-Term Debt to the consolidated financial statements set forth in our most recently filed Annual Report on Form 10-K. KFPC Loan Agreement. As of June 30, 2018 , NTD 4.0 billion , or approximately $129.4 million , was drawn on KFPC's syndicated loan agreement (the “KFPC Loan Agreement”). For the three and six months ended June 30, 2018 , our effective interest rate for borrowings on the KFPC Loan Agreement was 1.8% . The KFPC Loan Agreement contains certain financial covenants that change during the term of the KFPC Loan Agreement and KFPC was in compliance with the covenants as of the date of this filing. For a summary of additional terms of the KFPC Loan Agreement, see Note 8 Long-Term Debt to the consolidated financial statements set forth in our most recently filed Annual Report on Form 10-K. KFPC Revolving Facilities. KFPC also has five revolving credit facilities (the “KFPC Revolving Facilities”) to provide funding for working capital requirements and/or general corporate purposes, which allow for total borrowings of up to NTD 2.2 billion , or approximately $70.4 million . All of the KFPC Revolving Facilities are subject to variable interest rates. As of June 30, 2018 , NTD 200.0 million , or approximately $6.6 million , was drawn on the KFPC Revolving Facilities. Debt Issuance Costs. We had net debt issuance cost of $31.8 million as of June 30, 2018 , of which $2.9 million related to the ABL Facility is recorded as an asset (of which $1.2 million was included in other current assets) and $28.9 million is recorded as a reduction to long-term debt. We amortized $1.4 million and $2.0 million for the three months ended June 30, 2018 and 2017 , respectively, and $3.3 million and $4.4 million during the six months ended June 30, 2018 and 2017 , respectively. We deferred $11.0 million of debt issuance costs, of which $2.2 million , $3.1 million , and $5.7 million related to the Euro Tranche, USD Tranche, and 5.25% Senior Notes, respectively. We recorded a $79.9 million loss on extinguishment of debt during the six months ended June 30, 2018 , which includes a write off of $18.7 million related to previously capitalized deferred financing costs, a write off of $17.4 million related to original issue discount on our Term Loan Facility, and a $46.4 million related to the cash tender offer and subsequent redemption of the outstanding 10.5% Senior Notes, all of which was partially offset by a $2.6 million gain on the settlement of the ineffective portion of interest rate swaps. Debt Maturities . The remaining principal payments on our outstanding total debt as of June 30, 2018 , are as follows: Principal Payments (In thousands) July 1, 2018 through June 30, 2019 $ 39,373 July 1, 2019 through June 30, 2020 97,245 July 1, 2020 through June 30, 2021 185 July 1, 2021 through June 30, 2022 50,196 July 1, 2022 through June 30, 2023 208 Thereafter 1,496,437 Total debt $ 1,683,644 See Note 8 Fair Value Measurements, Financial Instruments, and Credit Risk for fair value information related to our long-term debt.

Fair Value Measurements, Financ

Fair Value Measurements, Financial Instruments, and Credit Risk	6 Months Ended
	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value Measurements, Financial Instruments and Credit Risk	Fair Value Measurements, Financial Instruments, and Credit Risk ASC 820, Fair Value Measurements and Disclosures defines fair value, establishes a consistent framework for measuring fair value and expands disclosure requirements about fair value measurements. ASC 820 requires entities to, among other things, maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. In accordance with ASC 820, these two types of inputs have created the following fair value hierarchy: • Level 1—Inputs that are quoted prices (unadjusted) for identical assets or liabilities in active markets; • Level 2—Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability, including: • Quoted prices for similar assets or liabilities in active markets; • Quoted prices for identical or similar assets or liabilities in markets that are not active; • Inputs other than quoted prices that are observable for the asset or liability; and • Inputs that are derived principally from or corroborated by observable market data by correlation or other means; and • Level 3—Inputs that are unobservable and reflect our assumptions used in pricing the asset or liability based on the best information available under the circumstances (e.g., internally derived assumptions surrounding the timing and amount of expected cash flows). Recurring Fair Value Measurements . The following tables set forth by level within the fair value hierarchy our financial assets and liabilities that were accounted for at fair value on a recurring basis as of June 30, 2018 and December 31, 2017 . These financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment, which judgment may affect the valuation of their fair value and placement within the fair value hierarchy levels. Fair Value Measurements at Reporting Date Using Balance Sheet Location June 30, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Derivative asset – current Other current assets $ 2,246 $ — $ 2,246 $ — Derivative asset – noncurrent Other long-term assets 5,241 — 5,241 — Retirement plan asset – noncurrent Other long-term asset 2,504 2,504 — — Total $ 9,991 $ 2,504 $ 7,487 $ — Fair Value Measurements at Reporting Date Using Balance Sheet Location December 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Derivative asset – current Other current assets $ 1,629 $ — $ 1,629 $ — Derivative asset – noncurrent Other long-term assets 3,801 — 3,801 — Retirement plan asset – noncurrent Other long-term assets 2,435 2,435 — — Derivative liability – current Other payables and accruals $ 399 $ — $ 399 $ — Total $ 8,264 $ 2,435 $ 5,829 $ — The following table presents the carrying values and approximate fair values of our long-term debt. June 30, 2018 December 31, 2017 Carrying Value Fair Value Carrying Value Fair Value (In thousands) USD Tranche (significant other observable inputs – level 2) $ 390,000 $ 390,246 $ 485,000 $ 490,762 Euro Tranche (significant other observable inputs – level 2) $ 367,638 $ 366,031 $ 198,265 $ 200,495 10.5% Senior Notes (quoted prices in active market for identical assets – level 1) $ — $ — $ 440,000 $ 499,171 7.0% Senior Notes (quoted prices in active market for identical assets – level 1) $ 400,000 $ 414,340 $ 400,000 $ 432,028 5.25% Senior Notes (quoted prices in active market for identical assets – level 1) $ 338,461 $ 341,517 $ — $ — ABL Facility (significant other observable inputs – level 2) $ 50,000 $ 50,000 $ — $ — Capital lease obligation (significant other observable inputs – level 2) $ 1,567 $ 1,567 $ 2,086 $ 2,086 KFPC Loan Agreement (significant unobservable inputs – level 3) $ 129,428 $ 129,428 $ 149,919 $ 149,919 KFPC Revolving Facilities (significant unobservable inputs – level 3) $ 6,550 $ 6,550 $ 8,430 $ 8,430 The ABL Facility, Capital lease obligation, KFPC Loan Agreement, and KFPC Revolving Facilities are variable rate instruments, and as such, the fair value approximates the carrying value. Financial Instruments Interest Rate Swap Agreements. Periodically, we enter into interest rate swap agreements to hedge or otherwise protect against interest rate fluctuation on a portion of our variable rate debt. These interest rate swap agreements are designated as cash flow hedges on our exposure to the variability of future cash flows. In an effort to convert a substantial portion of our future interest payments pursuant to the USD Tranche to a fixed interest rate, in February and March 2016 we entered into several interest rate swap agreements with an aggregate notional value of $925.4 million , effective dates of January 3, 2017 and maturity dates of December 31, 2020. In May 2018 we entered into an interest rate swap agreement with a notional value of $90.0 million , effective date of June 4, 2018 and maturity date of December 31, 2018. We exited out of $625.4 million of our interest rate swaps as of June 30, 2018 . As a result, at June 30, 2018 the total notional value of our interest rate swaps was $390.0 million , which effectively hedges the outstanding USD Tranche, fixing LIBOR at 1.749% . We recorded an unrealized gain of $0.9 million and an unrealized loss of $1.2 million for the three months ended June 30, 2018 and 2017 , respectively, and an unrealized gain of $4.6 million and an unrealized gain of $0.1 million during the six months ended June 30, 2018 and 2017 , respectively, in accumulated other comprehensive income (loss) related to the effective portion of these interest rate swap agreements. In addition, we reclassified out of other comprehensive income (loss) the settlement of a portion of our interest rate swap that amounted to $2.6 million gain for the six months ended June 30, 2018 . Foreign Currency Hedges. Periodically, we enter into foreign currency agreements to hedge or otherwise protect against fluctuations in foreign currency exchange rates. These agreements do not qualify for hedge accounting and gains/losses resulting from both the up-front premiums and/or settlement of the hedges at expiration of the agreements are recognized in the period in which they are incurred. We settled these hedges and recorded a gain of $0.2 million and $3.2 million for the three months ended June 30, 2018 and 2017 , respectively, and a gain of $0.1 million and $3.1 million for the six months ended June 30, 2018 and 2017 , respectively, which are recorded in cost of goods sold in the Condensed Consolidated Statements of Operations. These contracts are structured such that these gains/losses from the mark-to-market impact of the hedging instruments materially offset the underlying foreign currency exchange gains/losses to reduce the overall impact of foreign currency exchange movements throughout the period. Net Investment Hedge. During the three months ended June 30, 2018 , we designated €290 million of euro-denominated borrowing as a hedge against a portion of our net investment in the Company's European operations. The mark to market of this instrument at June 30, 2018 was a gain of $3.5 million , which is recorded within accumulated other comprehensive loss in the Condensed Consolidated Balance Sheets. Credit Risk The use of derivatives creates exposure to credit risk in the event that the counterparties to these instruments fail to perform their obligations under the contracts, which we seek to minimize by limiting our counterparties to major financial institutions with acceptable credit ratings and by monitoring the total value of positions with individual counterparties. We analyze our counterparties’ financial condition prior to extending credit, and we establish credit limits and monitor the appropriateness of those limits on an ongoing basis. We also obtain cash, letters of credit, or other acceptable forms of security from customers to provide credit support, where appropriate, based on our financial analysis of the customer and the contractual terms and conditions applicable to each transaction.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax provision was a benefit of $1.8 million and an expense $3.9 million for the three months ended June 30, 2018 and 2017 , respectively, and an expense of $0.4 million and $5.1 million for the six months ended June 30, 2018 and 2017 , respectively. Our effective tax rate was 11.6% and 14.1% for the three months ended June 30, 2018 and 2017 , respectively, and 4.9% and 15.5% for the six months ended June 30, 2018 and 2017 , respectively. During the six months ended June 30, 2018 , our effective tax rate differed from the U.S. corporate statutory tax rate of 21.0% primarily due to the mix of our pretax income or loss generated in various foreign jurisdictions and our uncertain tax positions. During the six months ended June 30, 2017 , our pretax earnings in the Netherlands, Sweden, and Finland decreased our effective tax rate due to the statutory rates of 25.0% , 22.0% , and 20.0% , respectively. The provision for income taxes differs from the amount computed by applying the U.S. corporate statutory income tax rate to income (loss) before income taxes for the reasons set forth below. Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Income taxes at the statutory rate $ 3,349 $ (9,548 ) $ (1,757 ) $ (11,440 ) State taxes, net of federal benefit 207 231 (147 ) 92 Foreign tax rate differential 1,361 3,876 4,200 5,666 Permanent differences (1,879 ) 2,056 141 1,726 Uncertain tax positions (526 ) (580 ) (1,053 ) (1,155 ) Valuation allowance (645 ) 392 (443 ) 317 Return to provision adjustments (25 ) — (1,350 ) 3 Other — (281 ) — (281 ) Income tax benefit (expense) $ 1,842 $ (3,854 ) $ (409 ) $ (5,072 ) Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. We consider all available material evidence, both positive and negative, in assessing the appropriateness of a valuation allowance for our deferred tax assets. In determining whether a valuation allowance is required during the period, we evaluate primarily (a) cumulative earnings and losses in recent years, (b) historical taxable income or losses as it relates to our ability to utilize operating loss and tax credit carryforwards within the expiration period, (c) trends indicating earnings or losses expected in future years along with our ability in prior years to reasonably project these future trends or operating results, (d) length of the carryback and carryforward period, and (e) prudent and feasible tax-planning strategies, particularly related to operational changes and the impact on the timing or taxability of relative amounts. As of June 30, 2018 and December 31, 2017 , we recorded a valuation allowance of $51.7 million and $51.3 million , respectively, against our net operating loss carryforwards and other deferred tax assets. We increased our valuation allowances by $0.6 million and $0.4 million for the three and six months ended June 30, 2018 , respectively, primarily related to current period net operating losses in the U.S. We decreased our valuation allowances by $0.4 million and $0.3 million for the three and six months ended June 30, 2017 , respectively, which represents utilization of net operating losses. On December 22, 2017, the U.S. Tax Cuts and Jobs Act (“Tax Act”) introduced significant changes to U.S. income tax law, which included a reduction to the U.S. statutory tax rate from 35.0% to 21.0% and a limitation on net operating loss carryforwards generated in 2018 and beyond. Additionally, the Tax Act extends bonus depreciation provisions and limits the amount of interest expense deductible in future years. In 2017, we were subject to a one-time transition tax on accumulated foreign subsidiary earnings not previously subject to U.S. income tax. The Staff of the SEC issued Staff Accounting Bulletin No. 118, which provides registrants a measurement period to report the impact of the new U.S. tax law. Due to the timing of the enactment and the complexity involved in applying the provisions of the Tax Act, we have made reasonable estimates of the effects and recorded provisional amounts in our financial statements as of December 31, 2017. As we collect and prepare necessary data, and interpret the Tax Act and any additional guidance issued by the U.S. Treasury Department, the IRS, and other standard-setting bodies, we may make adjustments to the provisional amounts. Those adjustments may materially impact our provision for income taxes and effective tax rate in the period in which the adjustments are made. The accounting for the tax effects of the Tax Act will be completed in 2018. Certain items or estimates that result in impacts of the Tax Act being provisional include: the deemed repatriation tax on post-1986 accumulated earnings and profits, the deferred tax rate change effect of the new law, certain deferred taxes related to employee compensation, valuation allowances on certain deferred taxes, deferred taxes related to outside basis differences in certain foreign investments, detailed foreign earnings calculation for the most recent period, project foreign cash balances for certain foreign subsidiaries, and finalized computations of foreign tax credit availability. In addition, the companies 2017 U.S. income tax returns will not be finalized until later in 2018, and while historically this process has resulted in offsetting changes in estimates in current and deferred taxes for items which are timing related, the reduction of the U.S. tax rate will result in an adjustment to our income tax provision or benefit when recorded. Finally, we consider it likely that further technical guidance regarding the new Tax Act provisions, as well as clarity regarding state income tax conformity to current federal tax code, may be issued. In accordance with the Tax Act, our previously untaxed accumulated foreign earnings are subjected to U.S. income tax at a rate of 15.5% to the extent of foreign cash and certain other net current assets and 8.0% on the remaining earnings. We recorded a provisional amount for our one-time transitional tax liability and income tax expense of $46.3 million during the year ended December 31, 2017. We have recorded provisional amounts based on estimates of the effects of the Tax Act as the analysis requires significant data from our foreign subsidiaries that is not regularly collected or analyzed. The impact of the Tax Act to our deferred taxes was a benefit of $95.0 million , of which $68.9 million relates to the reduction of the U.S. statutory tax rate from 35.0% to 21.0% for years after 2017 and the remaining relates to changes in our investments in foreign subsidiaries. We remeasured our deferred taxes as of December 31, 2017 to reflect the reduced rate that will apply in future periods when these deferred taxes are settled or realized. Although the tax rate reduction is known, we have not collected the necessary data to complete our analysis of the effect of the Tax Act on the underlying deferred taxes and as such, the amounts recorded as of December 31, 2017 are provisional. As we complete our analysis of the Tax Act and incorporate additional guidance that may be issued by the U.S. Treasury Department, the IRS or other standard-setting bodies, we may identify additional effects not reflected as of December 31, 2017. For the period ending December 31, 2017, a portion of the unremitted foreign earnings are permanently reinvested in the corresponding country of origin. Accordingly, we have not provided deferred taxes for the differences between the book basis and underlying tax basis in those subsidiaries or on the foreign currency translation adjustment amounts related to such operations. We file income tax returns in the U.S. federal jurisdiction and in various state and foreign jurisdictions. For our U.S. federal income tax returns, the statute of limitations has expired through the tax year ended December 31, 2003. As a result of net operating loss carryforwards from 2004, the statute remains open for all years subsequent to 2003. In addition, open tax years for state and foreign jurisdictions remain subject to examination. We recognize the tax impact of certain tax positions only when it is more likely than not those such positions are sustainable. The taxes are recorded in accordance with ASC 740-10, Accounting for Uncertainty in Income Taxes , which prescribes the minimum recognition threshold. As of June 30, 2018 and December 31, 2017 , we had total unrecognized tax benefits of $25.3 million and $24.4 million , respectively, related to uncertain tax positions, all of which, if recognized, would impact our effective tax rate. During the three and six months ended June 30, 2018 , we had an increase of $0.1 million and $0.9 million , respectively, primarily related to our uncertain tax positions in the U.S. and Europe. During the three and six months ended June 30, 2017 , we had an increase of $1.0 million and $1.3 million , respectively, primarily related to our uncertain tax positions in the U.S. and Europe. We recorded interest and penalties related to unrecognized tax benefits within the provision for income taxes. As a result of the expiration of statute of limitations in various jurisdictions, we expect to release a $0.9 million reserve for the year ending December 31, 2018.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies (a) Legal Proceedings We received an initial notice from the tax authorities in Brazil during the fourth quarter of 2012 in connection with tax credits that were generated from the purchase of certain goods which were subsequently applied by us against taxes owed. We received an additional tax assessment of R $1.5 million , or approximately $0.4 million during the six months ended June 30, 2018 . The tax authorities are currently assessing R $9.2 million , or approximately $2.4 million . We have appealed the assertion by the tax authorities in Brazil that the goods purchased were not eligible to earn the credits. While the outcome of this proceeding cannot be predicted with certainty, we do not expect this matter to have a material adverse effect upon our financial position, results of operations or cash flows. We and certain of our subsidiaries, from time to time, are parties to various other legal proceedings, claims and disputes that have arisen in the ordinary course of business. These claims may involve significant amounts, some of which would not be covered by insurance. A substantial settlement payment or judgment in excess of our accruals could have a material adverse effect on our financial position, results of operations or cash flows. While the outcome of these proceedings cannot be predicted with certainty, we do not expect any of these existing matters, individually or in the aggregate, to have a material adverse effect upon our financial position, results of operations or cash flows. (b) Asset Retirement Obligations. The changes in the aggregate carrying amount of our asset retirement obligations are as follows: Six Months Ended June 30, 2018 2017 (In thousands) Beginning balance $ 5,712 $ 8,863 Additional accruals — 439 Accretion expense 168 156 Obligations settled (40 ) (877 ) Foreign currency translation (141 ) 332 Ending balance $ 5,699 $ 8,913 Pursuant to the indemnity included in the February 2001 separation agreement from Shell Chemical, we recorded a receivable of $0.2 million and $3.3 million as of June 30, 2018 and 2017 , respectively. There have been no material changes to our Commitments and Contingencies disclosed in our most recently filed Annual Report on Form 10-K.

Employee Benefits

Employee Benefits	6 Months Ended
	Jun. 30, 2018
Retirement Benefits [Abstract]
Employee Benefits	Employee Benefits The components of net periodic benefit costs related to pension benefits are as follows: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 U.S Plans Non-U.S. Plans U.S Plans Non-U.S. Plans U.S Plans Non-U.S. Plans U.S Plans Non-U.S. Plans (In thousands) Service cost $ 906 $ 632 $ 770 $ 657 $ 1,793 $ 1,283 $ 1,600 $ 1,303 Interest cost 1,795 527 1,848 654 3,590 1,068 3,662 1,375 Expected return on plan assets (2,453 ) (684 ) (2,348 ) (733 ) (4,905 ) (1,384 ) (4,701 ) (1,560 ) Amortization of prior service cost (1,235 ) 4 903 49 — 7 1,810 105 Amortization of net actuarial loss 2,452 163 — — 2,452 331 — — Net periodic benefit cost $ 1,465 $ 642 $ 1,173 $ 627 $ 2,930 $ 1,305 $ 2,371 $ 1,223 The components of net periodic benefit costs other than the service cost component are included in Other expense on our Condensed Consolidated Statements of Operations. We made contributions of $6.6 million and $4.0 million to our pension plans in the six months ended June 30, 2018 and 2017 , respectively. The components of net periodic benefit cost related to other post-retirement benefits are as follows: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 U.S Plans U.S Plans U.S Plans U.S Plans (In thousands) Service cost $ 124 $ 145 $ 279 $ 290 Interest cost 344 340 679 680 Amortization of prior service cost 194 150 382 300 Net periodic benefit cost $ 662 $ 635 $ 1,340 $ 1,270 The components of net periodic benefit costs other than the service cost component are included in Other expense on our Condensed Consolidated Statements of Operations.

Industry Segments and Foreign O

Industry Segments and Foreign Operations	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Industry Segment and Foreign Operations	12. Industry Segments and Foreign Operations Our operations are managed through two operating segments: (i) Polymer segment; and (ii) Chemical segment. In accordance with the provisions of ASC 280, Segment Reporting , our chief operating decision maker has been identified as the President and Chief Executive Officer, who reviews operating results to make decisions about allocating resources and assessing performance for the entire company. • Polymer Segment is comprised of our SBCs and other engineered polymers business. • Chemical Segment is comprised of our pine-based specialty products business. Our chief operating decision maker uses operating income (loss) as the primary measure of each segment's operating results in order to allocate resources and in assessing the company's performance. In accordance with ASC 280, Segment Reporting , we have presented operating income (loss) for each segment. The following table summarizes our operating results by segment. We do not have sales between segments. Three Months Ended June 30, 2018 Three Months Ended June 30, 2017 Polymer Chemical Total Polymer Chemical Total (In thousands) Revenue $ 338,150 $ 200,245 $ 538,395 $ 335,118 $ 190,202 $ 525,320 Cost of goods sold 228,474 139,545 368,019 249,215 128,268 377,483 Gross profit 109,676 60,700 170,376 85,903 61,934 147,837 Operating expenses: Research and development 7,386 3,088 10,474 6,718 2,929 9,647 Selling, general, and administrative 24,461 17,514 41,975 25,334 15,798 41,132 Depreciation and amortization 17,598 17,542 35,140 16,773 17,817 34,590 Operating income $ 60,231 $ 22,556 82,787 $ 37,078 $ 25,390 62,468 Other expense (1,107 ) (863 ) Loss on extinguishment of debt (72,330 ) — Earnings of unconsolidated joint venture 120 118 Interest expense, net (25,416 ) (34,444 ) Income (loss) before income taxes $ (15,946 ) $ 27,279 Six Months Ended June 30, 2018 Six Months Ended June 30, 2017 Polymer Chemical Total Polymer Chemical Total (In thousands) Revenue $ 627,221 $ 413,566 $ 1,040,787 $ 606,066 $ 377,379 $ 983,445 Cost of goods sold 436,016 287,344 723,360 430,567 261,116 691,683 Gross profit 191,205 126,222 317,427 175,499 116,263 291,762 Operating expenses: Research and development 14,833 6,438 21,271 14,123 5,761 19,884 Selling, general, and administrative 47,981 32,717 80,698 48,671 32,875 81,546 Depreciation and amortization 35,360 35,156 70,516 33,097 34,636 67,733 Operating income $ 93,031 $ 51,911 144,942 $ 79,608 $ 42,991 122,599 Other expense (2,220 ) (1,671 ) Loss on extinguishment of debt (79,921 ) (19,738 ) Earnings of unconsolidated joint venture 257 245 Interest expense, net (54,692 ) (68,749 ) Income before income taxes $ 8,366 $ 32,686 The following table presents long-lived assets including goodwill and total assets. June 30, 2018 December 31, 2017 Polymer Chemical Total Polymer Chemical Total (In thousands) Property, plant, and equipment, net $ 540,823 $ 388,942 $ 929,765 $ 561,109 $ 397,614 $ 958,723 Investment in unconsolidated joint venture $ 12,043 $ — $ 12,043 $ 12,380 $ — $ 12,380 Goodwill $ — $ 773,723 $ 773,723 $ — $ 774,319 $ 774,319 Total assets $ 1,167,122 $ 1,771,339 $ 2,938,461 $ 1,125,626 $ 1,806,901 $ 2,932,527 For geographic reporting, revenue is attributed to the geographic location in which the customers’ facilities are located. Long-lived assets consist primarily of property, plant, and equipment, which are attributed to the geographic location in which they are located and are presented at historical cost. Following is a summary of revenue by geographic region: Three Months Ended June 30, 2018 Three Months Ended June 30, 2017 Polymer Chemical Total Polymer Chemical Total (In thousands) (In thousands) Revenue: United States $ 110,260 $ 81,231 $ 191,491 $ 101,039 $ 80,919 $ 181,958 Germany 39,665 12,850 52,515 40,861 14,611 55,472 All other countries 188,225 106,164 294,389 193,218 94,672 287,890 $ 338,150 $ 200,245 $ 538,395 $ 335,118 $ 190,202 $ 525,320 Six Months Ended June 30, 2018 Six Months Ended June 30, 2017 Polymer Chemical Total Polymer Chemical Total (In thousands) (In thousands) Revenue: United States $ 213,989 $ 162,555 $ 376,544 $ 191,383 $ 157,911 $ 349,294 Germany 71,507 29,086 100,593 72,034 30,909 102,943 All other countries 341,725 221,925 563,650 342,649 188,559 531,208 $ 627,221 $ 413,566 $ 1,040,787 $ 606,066 $ 377,379 $ 983,445 Our capital expenditures for the Polymer segment, excluding capital expenditures by the KFPC joint venture, were $19.5 million and $28.0 million during the six months ended June 30, 2018 and 2017 , respectively, and capital expenditures for our Chemical segment were $22.7 million and $22.8 million during the six months ended June 30, 2018 and 2017 , respectively.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions We own a 50% equity investment in an SBC manufacturing joint venture in Kashima, Japan. Our outstanding payables were $16.3 million and $17.7 million as of June 30, 2018 and December 31, 2017 , respectively, which were recorded in “Due to related party” liability on the Condensed Consolidated Balance Sheets. Our total purchases from the joint venture were $7.2 million and $7.8 million for the three months ended June 30, 2018 and 2017 , respectively, and $16.3 million and $20.5 million for the six months ended June 30, 2018 and 2017 , respectively. We own a 50% variable interest in KFPC, an HSBC manufacturing joint venture in Mailiao, Taiwan. The KFPC joint venture is fully consolidated in our financial statements, and our joint venture partner, Formosa Petrochemical Corporation (“FPCC”), is a related party affiliate. Under the terms of the joint venture agreement, FPCC is to provide certain site services and raw materials to KFPC. Our outstanding payables were $0.3 million and $1.5 million as of June 30, 2018 and December 31, 2017 , respectively, which were recorded in “Due to related party” liability on the Condensed Consolidated Balance Sheets. Our total purchases from this joint venture were $7.4 million and $2.9 million for the three months ended June 30, 2018 and 2017 , respectively, and $13.1 million and $4.2 million for the six months ended June 30, 2018 and 2017 , respectively. See Note 14 Variable Interest Entity, for further discussion related to the KFPC joint venture.

Variable Interest Entity

Variable Interest Entity	6 Months Ended
	Jun. 30, 2018
Noncontrolling Interest [Abstract]
Variable Interest Entity	Variable Interest Entity We hold a variable interest in a joint venture with FPCC to build, own and operate a 30 kiloton HSBC plant at FPCC’s petrochemical site in Mailiao, Taiwan. Kraton and FPCC are each 50% owners of the joint venture company, KFPC. Under the provisions of an offtake agreement with KFPC, we have exclusive rights to purchase all production from KFPC. Additionally, the agreement requires us to purchase a minimum of 80% of the plant production capacity each year at a defined fixed margin. This offtake agreement represents a variable interest that provides us the power to direct the most significant activities of KFPC and exposes us to the economic variability of the joint venture. As such, we have determined that we are the primary beneficiary of this variable interest entity. As a result, we have consolidated KFPC in our financial statements and reflected FPCC’s 50% ownership as a noncontrolling interest. The following table summarizes the carrying amounts of assets and liabilities as of June 30, 2018 and December 31, 2017 for KFPC before intercompany eliminations. June 30, 2018 December 31, 2017 (In thousands) Cash and cash equivalents $ 8,678 $ 13,848 Other current assets 17,421 21,399 Property, plant, and equipment, net 164,626 173,363 Intangible assets 8,979 9,585 Other long-term assets 16,234 13,972 Total assets $ 215,938 $ 232,167 Current portion of long-term debt $ 38,907 $ 41,745 Current liabilities 20,177 13,938 Long-term debt 96,928 116,408 Total liabilities $ 156,012 $ 172,091

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events We have evaluated events and transactions that occurred after the balance sheet date and determined that there were no significant events or transactions that would require recognition or disclosure in our condensed consolidated financial statements for the period ended June 30, 2018 .

General (Policies)

General (Policies)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation. The accompanying unaudited Condensed Consolidated Financial Statements presented in this report are for us and our consolidated subsidiaries, each of which is a wholly-owned subsidiary, except our 50% investment in our joint venture, Kraton Formosa Polymers Corporation (“KFPC”), located in Mailiao, Taiwan. KFPC is a variable interest entity for which we have determined that we are the primary beneficiary and, therefore, have consolidated into our financial statements. Our 50% investment in our joint venture located in Kashima, Japan, is accounted for under the equity method of accounting. All significant intercompany transactions have been eliminated. These interim financial statements should be read in conjunction with the consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2017 and reflect all normal recurring adjustments that are, in the opinion of management, necessary to present fairly our results of operations and financial position. Amounts reported in our Condensed Consolidated Statements of Operations are not necessarily indicative of amounts expected for the respective annual periods or any other interim period, in particular due to the effect of seasonal changes and weather conditions that typically affect our sales into paving, roadmarking, roofing, and construction applications. In particular, sales volumes into these applications are generally higher in the second and third quarter of the calendar year as warm and dry weather is more conducive to paving and roofing activity.
Reclassifications	Reclassifications. Certain amounts reported in the condensed consolidated financial statements and notes to the consolidated financial statements for the prior periods have been reclassified to conform to the current reporting presentation.
Revenue Recognition	Revenue Recognition. The Company adopted Topic 606 Revenue from Contracts with Customers with a date of initial adoption of January 1, 2018. As a result, the Company has changed its accounting policy for revenue recognition and applied Topic 606 using the modified retrospective basis. Typically, this approach would result in recognizing the cumulative effect of initially applying Topic 606 as an adjustment to the opening balance of equity at January 1, 2018. The Company did not have a material change in financial position, results of operations, or cash flows and therefore there is no cumulative impact recorded to opening equity.
Use of Estimates	Use of Estimates. The preparation of these Condensed Consolidated Financial Statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant items subject to such estimates and assumptions include: • the useful lives of long-lived assets; • estimates of fair value for assets acquired and liabilities assumed in business combinations; • allowances for doubtful accounts and sales returns; • the valuation of derivatives, deferred tax assets, property, plant and equipment, intangible assets, inventory, investments, and share-based compensation; and • liabilities for employee benefit obligations, environmental matters, asset retirement obligations, income tax uncertainties, and other contingencies.
Income Tax in Interim Periods	Income Tax in Interim Periods. We conduct operations in separate legal entities in different jurisdictions. As a result, income tax amounts are reflected in these Condensed Consolidated Financial Statements for each of those jurisdictions. Tax laws and tax rates vary substantially in these jurisdictions and are subject to change based on the political and economic climate in those countries. We file our tax returns in accordance with our interpretations of each jurisdiction’s tax laws. We record our tax provision or benefit on an interim basis using the estimated annual effective tax rate. This rate is applied to the current period ordinary income or loss to determine the income tax provision or benefit allocated to the interim period. Losses from jurisdictions for which no benefit can be realized and the income tax effects of unusual and infrequent items are excluded from the estimated annual effective tax rate. Valuation allowances are provided against the future tax benefits that arise from the losses in jurisdictions for which there is uncertainty that they may be realized. The effects of unusual and infrequent items are recognized in the impacted interim period as discrete items. The estimated annual effective tax rate may be significantly affected by nondeductible expenses and by our projected earnings mix by tax jurisdiction. Adjustments to the estimated annual effective income tax rate are recognized in the period during which such estimates are revised. We have established valuation allowances against a variety of deferred tax assets, including net operating loss carryforwards, foreign tax credits and other income tax credits. Valuation allowances take into consideration our expected ability to realize these deferred tax assets and reduce the value of such assets to the amount that is deemed more likely than not to be recoverable. Our ability to realize these deferred tax assets is dependent on achieving our forecast of future taxable operating income over an extended period of time. We review our forecast in relation to actual results and expected trends on a quarterly basis. If we fail to achieve our operating income targets, we may change our assessment regarding the recoverability of our net deferred tax assets and such change could result in a valuation allowance being recorded against some or all of our net deferred tax assets. A change in our valuation allowance would impact our income tax benefit (expense) and our stockholders’ equity and could have a significant impact on our results of operations or financial condition in future periods.
New Accounting Pronouncements	Accounting Standards Adopted in the Current Period We have implemented all new accounting pronouncements that are in effect and that management believes would materially affect our financial statements. In May 2014, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers , updated by ASU No. 2015-14 Deferral of the Effective Date , which provides a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most current revenue recognition guidance. In August 2015, the effective date for the standard was deferred by one year and the standard is now effective for public entities for annual and interim periods beginning after December 15, 2017. Early adoption is permitted based on the original effective date. Our revenue is primarily generated from the sale of finished product to customers. Those sales predominantly contain a single delivery element and revenue is recognized at a single point in time, when ownership and risk of loss transfers. These are largely un-impacted by the new standard. We completed our analysis during 2017 and there is no material change to our financial position, results of operations, and cash flows. We adopted ASU No. 2014-09 and its amendment on a modified retrospective basis effective January 1, 2018. Although there is no material impact, we have expanded disclosures in our notes to our condensed consolidated financial statements related to revenue recognition under the new standard. We have implemented changes to our accounting policies and practices, business processes, systems, and controls to support the new revenue recognition and disclosure requirements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230) . The ASU addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, and early adoption is permitted. Our analysis of ASU 2016-15 was completed during 2017 and there is no material change to our financial position, results of operations, and cash flows. We adopted ASU 2016-15 effective January 1, 2018. In March 2017, the FASB issued ASU 2017-07, Compensation-Retirement Benefits (Topic 715)-Improving the Presentation of Net Periodic Pension Cost and Net Periodic Post-retirement Benefit Cost . The standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, and early adoption is permitted as of the beginning of a year for which financial statements (interim and annual) have not been issued. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component. Our service costs were $3.4 million and $3.2 million for the six months ended June 30, 2018 and 2017 , respectively. We adopted ASU 2017-07 effective January 1, 2018 and net periodic benefit costs other than the service cost component have been included in Other expense on our Condensed Consolidated Statements of Operations for all reported periods. New Accounting Standards to be Adopted in Future Periods In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). This standard requires that an entity must recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of twelve months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and liabilities. The standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018 and early adoption is permitted. We are still analyzing the quantitative impact of adoption; therefore, the effects of this standard on our financial position, results of operations, and cash flows are not yet known. As we complete our overall assessment, we are identifying and preparing to implement changes to our accounting policies and practices, business processes, systems and controls to support the new standard and disclosure requirements. Our assessment will be completed during fiscal year 2018 and we expect to adopt the ASU 2016-02 effective January 1, 2019. In January 2017, the FASB issued ASU 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment . This standard is effective for annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019, and early adoption is permitted for annual or interim goodwill impairment tests performed on testing dates after January 1, 2017. Our evaluation of this standard is currently ongoing. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . This standard is effective for fiscal years beginning after December 15, 2018, and early adoption is permitted for any interim period after issuance of the ASU. Our evaluation of this standard is currently ongoing and we expect to adopt ASU 2017-12 effective on January 1, 2019. In February 2018, the FASB issued ASU 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . This standard is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted for any interim period after issuance of the ASU. Our evaluation of this standard is currently ongoing and we expect to adopt ASU 2018-02 effective on January 1, 2019.
Revenue from Contract with Customers	Revenue is recognized when obligations under the terms of a contract with our customer are satisfied; generally this occurs at a point in time when the transfer of risk and title to the product transfers to the customer. Our standard terms of delivery are included in our contracts of sale, order confirmation documents, and invoices. As such, all revenue is considered revenue recognized from contracts with customers and we do not have other sources of revenue. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or providing services. Revenue is recognized net of sales tax, value-added taxes, and other taxes. Shipping and other transportation costs charged to customers are recorded in both revenue and cost of goods sold. We do not have any material significant payment terms as payment is received at or shortly after the point of sale. Certain customers may receive cash-based incentives (including rebates, price supports, and sales commission), which are accounted for as variable consideration. We estimate rebates and price supports based on the expected amount to be provided to customers and reduce revenues recognized once the performance obligation has been met. Sales commissions are recorded as an increase in cost of goods sold once the performance obligation has been met. We do not expect to have significant changes in our estimates for variable considerations. We have deferred revenue of $14.9 million related to contractual commitments with customers that the performance obligation will be satisfied over time, which will range from one to ten years. The revenue associated with these performance obligations is recognized as the obligation is satisfied, which occurs as a volume based metric over time when the transfer of risk and title of finished products transfer to the customer. Occasionally, we enter into bill-and-hold contracts, where we invoice the customer for products even though we retain possession of the products until a point in time in the future when the products will be shipped to the customer. In these contracts, the primary performance obligation is satisfied at a point in time when the product is segregated from our general inventory, it's ready for shipment to customer, and we do not have the ability to use the product or direct it to another customer. Additionally, we have a secondary performance obligation related to custodial costs, including storage and freight, which is satisfied over time once the product has been delivered to the customer. During the three and six months ended June 30, 2018 , we recognized $0.7 million and $4.5 million of revenue related to these arrangements, respectively. Custodial costs of $0.1 million have been accrued as of June 30, 2018 and will be recognized as revenue once the remaining performance obligation is met.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	We disaggregate our revenue by segment product lines, which is how we market our products and review results of operations. The following tables disaggregate our segment revenue by major product lines: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Performance Products $ 180,738 $ 191,134 $ 326,468 $ 332,852 Specialty Polymers 108,289 100,479 212,307 191,399 Cariflex 48,976 43,354 88,501 81,402 Other 147 151 (55 ) 413 Polymer Product Line Revenue $ 338,150 $ 335,118 $ 627,221 $ 606,066 Effective January 1, 2018, results for our Roads and Construction target market have been consolidated into our Adhesives and Performance Chemicals product lines to better align customer portfolio and end usage. We have adjusted the three and six months ended June 30, 2017 to conform with the respective 2018 presentations. Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Adhesives $ 73,978 $ 77,111 $ 147,126 $ 150,990 Performance Chemicals 114,813 100,304 237,754 201,883 Tires 11,454 12,787 28,686 24,506 Chemical Product Line Revenue $ 200,245 $ 190,202 $ 413,566 $ 377,379
Schedule of Contract with Customer, Asset and Liability	June 30, 2018 December 31, 2017 Contract receivables (1) $ 275,050 $ 196,951 Contract liabilities (2) $ 14,859 $ 16,257 ____________________________________________________ (1) Contract receivables are recorded within receivables, net of allowances on our Condensed Consolidated Balance Sheets. (2) Our contract liability decreased by $1.0 million , as a result of meeting the performance obligation, which was recognized in our Specialty Polymers product line revenue, and decreased approximately $0.4 million due to the change in currency exchange rates.

Detail of Certain Balance She26

Detail of Certain Balance Sheet Accounts (Tables)	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Detail of certain balance sheet accounts	June 30, 2018 December 31, 2017 (In thousands) Inventories of products: Finished products $ 286,236 $ 270,562 Work in progress 6,602 6,925 Raw materials 108,987 100,594 Inventories of products, gross 401,825 378,081 Inventory reserves (7,792 ) (10,285 ) Total inventories of products, net $ 394,033 $ 367,796 Intangible assets: Contractual agreements $ 263,429 $ 264,581 Technology 146,007 146,449 Customer relationships 60,436 60,547 Tradenames/trademarks 80,363 80,138 Software 55,187 52,466 Intangible assets 605,422 604,181 Less accumulated amortization: Contractual agreements 55,201 44,435 Technology 57,553 53,086 Customer relationships 35,639 33,871 Tradenames/trademarks 39,284 35,770 Software 34,449 30,156 Total accumulated amortization 222,126 197,318 Intangible assets, net of accumulated amortization $ 383,296 $ 406,863 Other payables and accruals: Employee related $ 28,649 $ 41,250 Interest payable 15,922 23,615 Property, plant, and equipment accruals 10,391 10,404 Other 38,786 44,355 Total other payables and accruals $ 93,748 $ 119,624 Other long-term liabilities: Pension and other post-retirement benefits $ 143,397 $ 147,209 Other 46,447 45,058 Total other long-term liabilities $ 189,844 $ 192,267
Schedule of accumulated other comprehensive income (loss)	Changes in accumulated other comprehensive income (loss) by component were as follows: Cumulative Foreign Currency Translation Net Unrealized Gain on Cash Flow Hedges Net Unrealized Gain (Loss) on Net Investment Hedges Benefit Plans Liability, Net of Tax Total (In thousands) December 31, 2016 $ (72,731 ) $ 515 $ (1,926 ) $ (84,388 ) $ (158,530 ) Other comprehensive income before reclassifications 41,781 94 — — 41,875 Amounts reclassified from accumulated other comprehensive loss — (41 ) — — (41 ) Net other comprehensive income for the year 41,781 53 — — 41,834 June 30, 2017 $ (30,950 ) $ 568 $ (1,926 ) $ (84,388 ) $ (116,696 ) December 31, 2017 $ (9,654 ) $ 4,550 $ (1,926 ) $ (91,265 ) $ (98,295 ) Other comprehensive income (loss) before reclassifications (10,956 ) 4,155 2,641 — (4,160 ) Amounts reclassified from accumulated other comprehensive loss — (2,587 ) — — (2,587 ) Net other comprehensive income (loss) for the year (10,956 ) 1,568 2,641 — (6,747 ) June 30, 2018 $ (20,610 ) $ 6,118 $ 715 $ (91,265 ) $ (105,042 )

Earnings Per Share ("EPS") (Tab

Earnings Per Share ("EPS") (Tables)	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Calculations of basic and diluted earnings per share	The calculations of basic and diluted EPS are as follows: Three Months Ended June 30, 2018 Three Months Ended June 30, 2017 Net Loss Attributable to Kraton Weighted Average Shares Outstanding Loss Per Share Net Income Attributable to Kraton Weighted Average Shares Outstanding Earnings Per Share (In thousands, except per share data) Basic: As reported $ (14,930 ) 31,890 $ 25,561 31,197 Amounts allocated to unvested restricted shares 210 (449 ) (501 ) (612 ) Amounts available to common stockholders (14,720 ) 31,441 $ (0.47 ) 25,060 30,585 $ 0.82 Diluted: Amounts allocated to unvested restricted shares (210 ) 449 501 612 Non participating share units — — — 181 Stock options added under the treasury stock method — — — 300 Amounts reallocated to unvested restricted shares 210 (449 ) (494 ) (612 ) Amounts available to stockholders and assumed conversions $ (14,720 ) 31,441 $ (0.47 ) $ 25,067 31,066 $ 0.81 Six Months Ended June 30, 2018 Six Months Ended June 30, 2017 Net Income Attributable to Kraton Weighted Average Shares Outstanding Earnings Per Share Net Income Attributable to Kraton Weighted Average Shares Outstanding Earnings Per Share (In thousands, except per share data) Basic: As reported $ 7,142 31,831 $ 31,974 31,115 Amounts allocated to unvested restricted shares (110 ) (489 ) (624 ) (607 ) Amounts available to common stockholders 7,032 31,342 $ 0.22 31,350 30,508 $ 1.03 Diluted: Amounts allocated to unvested restricted shares 110 489 624 607 Non participating share units — 201 — 184 Stock options added under the treasury stock method — 254 — 260 Amounts reallocated to unvested restricted shares (108 ) (489 ) (615 ) (607 ) Amounts available to stockholders and assumed conversions $ 7,034 31,797 $ 0.22 $ 31,359 30,952 $ 1.01

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Schedule of long-term debt	Long-term debt consists of the following: June 30, 2018 December 31, 2017 Principal Discount Debt Issuance Costs Total Principal Discount Debt Issuance Costs Total (In thousands) USD Tranche $ 390,000 $ (7,922 ) $ (10,871 ) $ 371,207 $ 485,000 $ (13,373 ) $ (13,986 ) $ 457,641 Euro Tranche 367,638 — (5,163 ) 362,475 198,265 — (3,517 ) 194,748 10.5% Senior Notes — — — — 440,000 (13,267 ) (14,409 ) 412,324 7.0% Senior Notes 400,000 — (7,023 ) 392,977 400,000 — (7,424 ) 392,576 5.25% Senior Notes 338,461 — (5,665 ) 332,796 — — — — ABL Facility 50,000 — — 50,000 — — — — KFPC Loan Agreement 129,428 — (143 ) 129,285 149,919 — (196 ) 149,723 KFPC Revolving Facilities 6,550 — — 6,550 8,430 — — 8,430 Capital lease obligation 1,567 — — 1,567 2,086 — — 2,086 Total debt 1,683,644 (7,922 ) (28,865 ) 1,646,857 1,683,700 (26,640 ) (39,532 ) 1,617,528 Less current portion of total debt 39,373 — — 39,373 42,647 — — 42,647 Long-term debt $ 1,644,271 $ (7,922 ) $ (28,865 ) $ 1,607,484 $ 1,641,053 $ (26,640 ) $ (39,532 ) $ 1,574,881
Remaining principal payments on outstanding total debt	The remaining principal payments on our outstanding total debt as of June 30, 2018 , are as follows: Principal Payments (In thousands) July 1, 2018 through June 30, 2019 $ 39,373 July 1, 2019 through June 30, 2020 97,245 July 1, 2020 through June 30, 2021 185 July 1, 2021 through June 30, 2022 50,196 July 1, 2022 through June 30, 2023 208 Thereafter 1,496,437 Total debt $ 1,683,644

Fair Value Measurements, Fina29

Fair Value Measurements, Financial Instruments, and Credit Risk (Tables)	6 Months Ended
	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of financial assets and liabilities accounted for at fair value on a recurring basis	The following tables set forth by level within the fair value hierarchy our financial assets and liabilities that were accounted for at fair value on a recurring basis as of June 30, 2018 and December 31, 2017 . These financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input to the fair value measurement requires judgment, which judgment may affect the valuation of their fair value and placement within the fair value hierarchy levels. Fair Value Measurements at Reporting Date Using Balance Sheet Location June 30, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Derivative asset – current Other current assets $ 2,246 $ — $ 2,246 $ — Derivative asset – noncurrent Other long-term assets 5,241 — 5,241 — Retirement plan asset – noncurrent Other long-term asset 2,504 2,504 — — Total $ 9,991 $ 2,504 $ 7,487 $ — Fair Value Measurements at Reporting Date Using Balance Sheet Location December 31, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Derivative asset – current Other current assets $ 1,629 $ — $ 1,629 $ — Derivative asset – noncurrent Other long-term assets 3,801 — 3,801 — Retirement plan asset – noncurrent Other long-term assets 2,435 2,435 — — Derivative liability – current Other payables and accruals $ 399 $ — $ 399 $ — Total $ 8,264 $ 2,435 $ 5,829 $ —
Schedule of carrying values and approximate fair values of long-term debt	The following table presents the carrying values and approximate fair values of our long-term debt. June 30, 2018 December 31, 2017 Carrying Value Fair Value Carrying Value Fair Value (In thousands) USD Tranche (significant other observable inputs – level 2) $ 390,000 $ 390,246 $ 485,000 $ 490,762 Euro Tranche (significant other observable inputs – level 2) $ 367,638 $ 366,031 $ 198,265 $ 200,495 10.5% Senior Notes (quoted prices in active market for identical assets – level 1) $ — $ — $ 440,000 $ 499,171 7.0% Senior Notes (quoted prices in active market for identical assets – level 1) $ 400,000 $ 414,340 $ 400,000 $ 432,028 5.25% Senior Notes (quoted prices in active market for identical assets – level 1) $ 338,461 $ 341,517 $ — $ — ABL Facility (significant other observable inputs – level 2) $ 50,000 $ 50,000 $ — $ — Capital lease obligation (significant other observable inputs – level 2) $ 1,567 $ 1,567 $ 2,086 $ 2,086 KFPC Loan Agreement (significant unobservable inputs – level 3) $ 129,428 $ 129,428 $ 149,919 $ 149,919 KFPC Revolving Facilities (significant unobservable inputs – level 3) $ 6,550 $ 6,550 $ 8,430 $ 8,430

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Reconciliation of effective tax rates	The provision for income taxes differs from the amount computed by applying the U.S. corporate statutory income tax rate to income (loss) before income taxes for the reasons set forth below. Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 (In thousands) Income taxes at the statutory rate $ 3,349 $ (9,548 ) $ (1,757 ) $ (11,440 ) State taxes, net of federal benefit 207 231 (147 ) 92 Foreign tax rate differential 1,361 3,876 4,200 5,666 Permanent differences (1,879 ) 2,056 141 1,726 Uncertain tax positions (526 ) (580 ) (1,053 ) (1,155 ) Valuation allowance (645 ) 392 (443 ) 317 Return to provision adjustments (25 ) — (1,350 ) 3 Other — (281 ) — (281 ) Income tax benefit (expense) $ 1,842 $ (3,854 ) $ (409 ) $ (5,072 )

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Changes in the aggregate carrying amount of ARO liability	The changes in the aggregate carrying amount of our asset retirement obligations are as follows: Six Months Ended June 30, 2018 2017 (In thousands) Beginning balance $ 5,712 $ 8,863 Additional accruals — 439 Accretion expense 168 156 Obligations settled (40 ) (877 ) Foreign currency translation (141 ) 332 Ending balance $ 5,699 $ 8,913

Employee Benefits (Tables)

Employee Benefits (Tables)	6 Months Ended
	Jun. 30, 2018
Retirement Benefits [Abstract]
Components of net periodic benefit cost	The components of net periodic benefit costs related to pension benefits are as follows: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 U.S Plans Non-U.S. Plans U.S Plans Non-U.S. Plans U.S Plans Non-U.S. Plans U.S Plans Non-U.S. Plans (In thousands) Service cost $ 906 $ 632 $ 770 $ 657 $ 1,793 $ 1,283 $ 1,600 $ 1,303 Interest cost 1,795 527 1,848 654 3,590 1,068 3,662 1,375 Expected return on plan assets (2,453 ) (684 ) (2,348 ) (733 ) (4,905 ) (1,384 ) (4,701 ) (1,560 ) Amortization of prior service cost (1,235 ) 4 903 49 — 7 1,810 105 Amortization of net actuarial loss 2,452 163 — — 2,452 331 — — Net periodic benefit cost $ 1,465 $ 642 $ 1,173 $ 627 $ 2,930 $ 1,305 $ 2,371 $ 1,223 The components of net periodic benefit cost related to other post-retirement benefits are as follows: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 U.S Plans U.S Plans U.S Plans U.S Plans (In thousands) Service cost $ 124 $ 145 $ 279 $ 290 Interest cost 344 340 679 680 Amortization of prior service cost 194 150 382 300 Net periodic benefit cost $ 662 $ 635 $ 1,340 $ 1,270

Industry Segments and Foreign33

Industry Segments and Foreign Operations (Tables)	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Sales revenue for primary product lines	The following table summarizes our operating results by segment. We do not have sales between segments. Three Months Ended June 30, 2018 Three Months Ended June 30, 2017 Polymer Chemical Total Polymer Chemical Total (In thousands) Revenue $ 338,150 $ 200,245 $ 538,395 $ 335,118 $ 190,202 $ 525,320 Cost of goods sold 228,474 139,545 368,019 249,215 128,268 377,483 Gross profit 109,676 60,700 170,376 85,903 61,934 147,837 Operating expenses: Research and development 7,386 3,088 10,474 6,718 2,929 9,647 Selling, general, and administrative 24,461 17,514 41,975 25,334 15,798 41,132 Depreciation and amortization 17,598 17,542 35,140 16,773 17,817 34,590 Operating income $ 60,231 $ 22,556 82,787 $ 37,078 $ 25,390 62,468 Other expense (1,107 ) (863 ) Loss on extinguishment of debt (72,330 ) — Earnings of unconsolidated joint venture 120 118 Interest expense, net (25,416 ) (34,444 ) Income (loss) before income taxes $ (15,946 ) $ 27,279 Six Months Ended June 30, 2018 Six Months Ended June 30, 2017 Polymer Chemical Total Polymer Chemical Total (In thousands) Revenue $ 627,221 $ 413,566 $ 1,040,787 $ 606,066 $ 377,379 $ 983,445 Cost of goods sold 436,016 287,344 723,360 430,567 261,116 691,683 Gross profit 191,205 126,222 317,427 175,499 116,263 291,762 Operating expenses: Research and development 14,833 6,438 21,271 14,123 5,761 19,884 Selling, general, and administrative 47,981 32,717 80,698 48,671 32,875 81,546 Depreciation and amortization 35,360 35,156 70,516 33,097 34,636 67,733 Operating income $ 93,031 $ 51,911 144,942 $ 79,608 $ 42,991 122,599 Other expense (2,220 ) (1,671 ) Loss on extinguishment of debt (79,921 ) (19,738 ) Earnings of unconsolidated joint venture 257 245 Interest expense, net (54,692 ) (68,749 ) Income before income taxes $ 8,366 $ 32,686
Schedule of assets by segment	The following table presents long-lived assets including goodwill and total assets. June 30, 2018 December 31, 2017 Polymer Chemical Total Polymer Chemical Total (In thousands) Property, plant, and equipment, net $ 540,823 $ 388,942 $ 929,765 $ 561,109 $ 397,614 $ 958,723 Investment in unconsolidated joint venture $ 12,043 $ — $ 12,043 $ 12,380 $ — $ 12,380 Goodwill $ — $ 773,723 $ 773,723 $ — $ 774,319 $ 774,319 Total assets $ 1,167,122 $ 1,771,339 $ 2,938,461 $ 1,125,626 $ 1,806,901 $ 2,932,527
Summary of revenue by geographic region	Following is a summary of revenue by geographic region: Three Months Ended June 30, 2018 Three Months Ended June 30, 2017 Polymer Chemical Total Polymer Chemical Total (In thousands) (In thousands) Revenue: United States $ 110,260 $ 81,231 $ 191,491 $ 101,039 $ 80,919 $ 181,958 Germany 39,665 12,850 52,515 40,861 14,611 55,472 All other countries 188,225 106,164 294,389 193,218 94,672 287,890 $ 338,150 $ 200,245 $ 538,395 $ 335,118 $ 190,202 $ 525,320 Six Months Ended June 30, 2018 Six Months Ended June 30, 2017 Polymer Chemical Total Polymer Chemical Total (In thousands) (In thousands) Revenue: United States $ 213,989 $ 162,555 $ 376,544 $ 191,383 $ 157,911 $ 349,294 Germany 71,507 29,086 100,593 72,034 30,909 102,943 All other countries 341,725 221,925 563,650 342,649 188,559 531,208 $ 627,221 $ 413,566 $ 1,040,787 $ 606,066 $ 377,379 $ 983,445

Variable Interest Entity (Table

Variable Interest Entity (Tables)	6 Months Ended
	Jun. 30, 2018
Noncontrolling Interest [Abstract]
Summary of carrying amounts of assets and liabilities	The following table summarizes the carrying amounts of assets and liabilities as of June 30, 2018 and December 31, 2017 for KFPC before intercompany eliminations. June 30, 2018 December 31, 2017 (In thousands) Cash and cash equivalents $ 8,678 $ 13,848 Other current assets 17,421 21,399 Property, plant, and equipment, net 164,626 173,363 Intangible assets 8,979 9,585 Other long-term assets 16,234 13,972 Total assets $ 215,938 $ 232,167 Current portion of long-term debt $ 38,907 $ 41,745 Current liabilities 20,177 13,938 Long-term debt 96,928 116,408 Total liabilities $ 156,012 $ 172,091

General (Details)

General (Details)	Jun. 30, 2018
KFPC
Schedule of Equity Method Investments [Line Items]
Percentage of investment in joint venture	50.00%
Styrenic Block Copolymer Joint Venture
Schedule of Equity Method Investments [Line Items]
Percentage of investment in joint venture	50.00%

New Accounting Pronouncements (

New Accounting Pronouncements (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Accounting Standards Update 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of services	$ 3.4	$ 3.2

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Custodial costs accrued			$ 100
Disaggregation of Revenue [Line Items]
Liability, revenue recognized	$ 700		4,500
Contract receivables	275,050		275,050		$ 196,951
Contract liabilities	14,859		14,859		$ 16,257
Polymer
Disaggregation of Revenue [Line Items]
Revenue	338,150	$ 335,118	627,221	$ 606,066
Polymer | Performance Products
Disaggregation of Revenue [Line Items]
Revenue	180,738	191,134	326,468	332,852
Polymer | Specialty Polymers
Disaggregation of Revenue [Line Items]
Liability, revenue recognized			1,000
Revenue	108,289	100,479	212,307	191,399
Effect of exchange rate differences on cash			(400)
Polymer | Cariflex
Disaggregation of Revenue [Line Items]
Revenue	48,976	43,354	88,501	81,402
Polymer | Other
Disaggregation of Revenue [Line Items]
Revenue	147	151	(55)	413
Chemical
Disaggregation of Revenue [Line Items]
Revenue	200,245	190,202	413,566	377,379
Chemical | Adhesives
Disaggregation of Revenue [Line Items]
Revenue	73,978	77,111	147,126	150,990
Chemical | Performance Chemicals
Disaggregation of Revenue [Line Items]
Revenue	114,813	100,304	237,754	201,883
Chemical | Tires
Disaggregation of Revenue [Line Items]
Revenue	$ 11,454	$ 12,787	$ 28,686	$ 24,506
Minimum
Disaggregation of Revenue [Line Items]
Performance obligation			1 year
Maximum
Disaggregation of Revenue [Line Items]
Performance obligation			10 years

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based compensation expense	$ 2.2	$ 2.2	$ 5.1	$ 5.1

Detail of Certain Balance She39

Detail of Certain Balance Sheet Accounts - Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Inventories of products:
Finished products	$ 286,236	$ 270,562
Work in progress	6,602	6,925
Raw materials	108,987	100,594
Inventories of products, gross	401,825	378,081
Inventory reserves	(7,792)	(10,285)
Total inventories of products, net	394,033	367,796
Other payables and accruals:
Employee related	28,649	41,250
Interest payable	15,922	23,615
Property, plant, and equipment accruals	10,391	10,404
Other	38,786	44,355
Total other payables and accruals	93,748	119,624
Other long-term liabilities:
Pension and other post-retirement benefits	143,397	147,209
Other	46,447	45,058
Total other long-term liabilities	189,844	192,267
Supplemental Balance Sheet Information [Line Items]
Intangible assets	605,422	604,181
Less accumulated amortization	222,126	197,318
Intangible assets, net of accumulated amortization	383,296	406,863
Contractual agreements
Supplemental Balance Sheet Information [Line Items]
Intangible assets	263,429	264,581
Less accumulated amortization	55,201	44,435
Technology
Supplemental Balance Sheet Information [Line Items]
Intangible assets	146,007	146,449
Less accumulated amortization	57,553	53,086
Customer relationships
Supplemental Balance Sheet Information [Line Items]
Intangible assets	60,436	60,547
Less accumulated amortization	35,639	33,871
Tradenames/trademarks
Supplemental Balance Sheet Information [Line Items]
Intangible assets	80,363	80,138
Less accumulated amortization	39,284	35,770
Software
Supplemental Balance Sheet Information [Line Items]
Intangible assets	55,187	52,466
Less accumulated amortization	$ 34,449	$ 30,156

Detail of Certain Balance She40

Detail of Certain Balance Sheet Accounts - Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ 666,519
Other comprehensive income (loss) before reclassifications			(4,160)	$ 41,875
Amounts reclassified from accumulated other comprehensive loss			(2,587)	(41)
Other comprehensive income (loss), net of tax	$ (11,260)	$ 28,897	(6,747)	41,834
Ending balance	667,587		667,587
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(98,295)	(158,530)
Ending balance	(105,042)	(116,696)	(105,042)	(116,696)
Cumulative Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(9,654)	(72,731)
Other comprehensive income (loss) before reclassifications			(10,956)	41,781
Amounts reclassified from accumulated other comprehensive loss			0	0
Other comprehensive income (loss), net of tax			(10,956)	41,781
Ending balance	(20,610)	(30,950)	(20,610)	(30,950)
Net Unrealized Gain on Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			4,550	515
Other comprehensive income (loss) before reclassifications			4,155	94
Amounts reclassified from accumulated other comprehensive loss			(2,587)	(41)
Other comprehensive income (loss), net of tax			1,568	53
Ending balance	6,118	568	6,118	568
Net Unrealized Gain (Loss) on Net Investment Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(1,926)	(1,926)
Other comprehensive income (loss) before reclassifications			2,641	0
Amounts reclassified from accumulated other comprehensive loss			0	0
Other comprehensive income (loss), net of tax			2,641	0
Ending balance	715	(1,926)	715	(1,926)
Benefit Plans Liability, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(91,265)	(84,388)
Other comprehensive income (loss) before reclassifications			0	0
Amounts reclassified from accumulated other comprehensive loss			0	0
Other comprehensive income (loss), net of tax			0	0
Ending balance	$ (91,265)	$ (84,388)	$ (91,265)	$ (84,388)

Earnings Per Share ("EPS") (Det

Earnings Per Share ("EPS") (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net Income (Loss) Attributable to Kraton, Basic:
As reported	$ (14,930)	$ 25,561	$ 7,142	$ 31,974
Amounts allocated to unvested restricted shares	(210)	501	110	624
Amounts available to common stockholders	(14,720)	25,060	7,032	31,350
Net Income (Loss) Attributable to Kraton, Diluted:
Amounts allocated to unvested restricted shares	(210)	501	110	624
Amounts reallocated to unvested restricted shares	210	(494)	(108)	(615)
Amounts available to stockholders and assumed conversions	$ (14,720)	$ 25,067	$ 7,034	$ 31,359
Weighted Average Shares Outstanding, Basic:
As reported (in shares)	31,890	31,197	31,831	31,115
Amounts allocated to unvested restricted shares (in shares)	(449)	(612)	(489)	(607)
Amounts available to common stockholders (in shares)	31,441	30,585	31,342	30,508
Weighted Average Shares Outstanding, Diluted:
Amounts allocated to unvested restricted shares (in shares)	(449)	(612)	(489)	(607)
Non participating share units (in shares)	0	181	201	184
Stock options added under the treasury stock method (in shares)	0	300	254	260
Amounts available to stockholders and assumed conversions (in shares)	31,441	31,066	31,797	30,952
Earnings (loss) per share, basic (in dollars per share)	$ (0.47)	$ 0.82	$ 0.22	$ 1.03
Earnings (loss) per share, diluted (in dollars per share)	$ (0.47)	$ 0.81	$ 0.22	$ 1.01

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) $ in Thousands, $ in Millions	Jun. 30, 2018USD ($)	Jun. 30, 2018TWD ($)	Jun. 29, 2018USD ($)	May 31, 2018	Dec. 31, 2017USD ($)	Mar. 31, 2017	Jan. 06, 2016
Debt Instrument [Line Items]
Total debt	$ 1,683,644				$ 1,683,700
Discount	(7,922)				(26,640)
Debt Issuance Costs	(28,865)				(39,532)
Total	1,646,857				1,617,528
Capital lease obligation	1,567				2,086
Less current portion of total debt	39,373				42,647
Long-term debt, noncurrent maturities	1,644,271				1,641,053
Long-term debt	1,607,484				1,574,881
KFPC Loan Agreement
Debt Instrument [Line Items]
Total debt	129,428	$ 4,000			149,919
Discount	0				0
Debt Issuance Costs	(143)				(196)
Total	129,285				149,723
KFPC Revolving Facilities
Debt Instrument [Line Items]
Total debt	6,550	$ 200			8,430
Discount	0				0
Debt Issuance Costs	0				0
Total	6,550				8,430
5.25% Senior Notes
Debt Instrument [Line Items]
Debt Issuance Costs	(5,700)
Debt instrument interest rate				5.25%
ABL Facility
Debt Instrument [Line Items]
Total debt	50,000				0
Discount	0				0
Debt Issuance Costs	0				0
Total	50,000				0
Term Loan
Debt Instrument [Line Items]
Debt Issuance Costs	(11,000)
Term Loan | USD Tranche
Debt Instrument [Line Items]
Total debt	390,000				485,000
Discount	(7,922)				(13,373)
Debt Issuance Costs	(10,871)				(13,986)
Total	371,207				457,641
Term Loan | Euro Tranche
Debt Instrument [Line Items]
Total debt	367,638				198,265
Discount	0				0
Debt Issuance Costs	(5,163)				(3,517)
Total	362,475				194,748
Senior Notes | USD Tranche
Debt Instrument [Line Items]
Debt Issuance Costs	(3,100)
Senior Notes | Euro Tranche
Debt Instrument [Line Items]
Debt Issuance Costs	(2,200)
Senior Notes | 10.5% Senior Notes
Debt Instrument [Line Items]
Total debt	0		$ 440,000		440,000
Discount	0				(13,267)
Debt Issuance Costs	0				(14,409)
Total	0				412,324
Debt instrument interest rate							10.50%
Senior Notes | 7.0% Senior Notes
Debt Instrument [Line Items]
Total debt	400,000				400,000
Discount	0				0
Debt Issuance Costs	(7,023)				(7,424)
Total	392,977				392,576
Debt instrument interest rate						7.00%
Senior Notes | 5.25% Senior Notes
Debt Instrument [Line Items]
Total debt	338,461				0
Discount	0				0
Debt Issuance Costs	(5,665)				0
Total	$ 332,796				$ 0

Long-Term Debt - Senior Secured

Long-Term Debt - Senior Secured Term Loan Facility (Details)	Mar. 08, 2018USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2018EUR (€)	May 24, 2018USD ($)	Mar. 08, 2018EUR (€)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Outstanding amount		$ 1,683,644,000				$ 1,683,700,000
Term Loan | USD Tranche
Debt Instrument [Line Items]
Outstanding amount		390,000,000				485,000,000
Increase in borrowing capacity				$ 90,000,000
Term Loan | Euro Tranche
Debt Instrument [Line Items]
Outstanding amount		367,638,000				$ 198,265,000
Term Loan | Secured Debt | USD Tranche
Debt Instrument [Line Items]
Outstanding amount		390,000,000
Extinguishment of debt, amount	$ 185,000,000
Term Loan | Secured Debt | USD Tranche | LIBOR Rate Plus
Debt Instrument [Line Items]
Percentage added to basis	2.50%
Term Loan | Secured Debt | USD Tranche | Base Rate
Debt Instrument [Line Items]
Variable rate floor	1.50%
Term Loan | Secured Debt | Euro Tranche
Debt Instrument [Line Items]
Outstanding amount		$ 367,600,000	€ 315,000,000
Increase in borrowing capacity | €					€ 150,000,000
Line of credit facility, fixed interest rate					2.75%
Term Loan | Secured Debt | Euro Tranche | EURIBOR
Debt Instrument [Line Items]
Percentage added to basis	2.00%

Long-Term Debt - Senior Notes (

Long-Term Debt - Senior Notes (Details) - USD ($)	Jun. 30, 2018	Jun. 29, 2018	May 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Jan. 06, 2016
Debt Instrument [Line Items]
Outstanding amount	$ 1,683,644,000			$ 1,683,700,000
5.25% Senior Notes
Debt Instrument [Line Items]
Debt instrument interest rate			5.25%
Face amount	338,500,000
ABL Facility
Debt Instrument [Line Items]
Outstanding amount	50,000,000			0
Revolving Credit Facility | ABL Facility
Debt Instrument [Line Items]
Outstanding amount	60,000,000
Senior Notes | 10.5% Senior Notes
Debt Instrument [Line Items]
Debt instrument interest rate						10.50%
Repurchase amount	157,600,000
Outstanding amount	0	$ 440,000,000		440,000,000
Senior Notes | 5.25% Senior Notes
Debt Instrument [Line Items]
Outstanding amount	338,461,000			0
Senior Notes | 7.0% Senior Notes
Debt Instrument [Line Items]
Debt instrument interest rate					7.00%
Outstanding amount	400,000,000			400,000,000
Face amount					$ 400,000,000
Term Loan | USD Tranche
Debt Instrument [Line Items]
Outstanding amount	390,000,000			$ 485,000,000
Term Loan | Secured Debt | USD Tranche
Debt Instrument [Line Items]
Outstanding amount	$ 390,000,000

Long-Term Debt - ABL Facility (

Long-Term Debt - ABL Facility (Details) - USD ($)	Jun. 30, 2018	Jun. 29, 2018	Dec. 31, 2017	Jan. 31, 2016	Jan. 06, 2016
Debt Instrument [Line Items]
Outstanding amount	$ 1,683,644,000		$ 1,683,700,000
ABL Facility
Debt Instrument [Line Items]
Outstanding amount	50,000,000		0
ABL Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, borrowing capacity				$ 250,000,000
Right of maximum additional commitments				$ 100,000,000
Outstanding amount	60,000,000
Unused borrowing capacity	50,000,000
Minimum percent required of federal outstanding commitments				60.00%
10.5% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Outstanding amount	$ 0	$ 440,000,000	$ 440,000,000
Debt instrument interest rate					10.50%

Long-Term Debt - KFPC Debt (Det

Long-Term Debt - KFPC Debt (Details) $ in Thousands, $ in Millions	3 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2018TWD ($)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Outstanding amount	$ 1,683,644		$ 1,683,700
KFPC Loan Agreement
Debt Instrument [Line Items]
Outstanding amount	$ 129,428	$ 4,000	149,919
Interest rate during period	1.80%
KFPC Revolving Facilities
Debt Instrument [Line Items]
Outstanding amount	$ 6,550	200	$ 8,430
Expires September 29, 2018 | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, borrowing capacity	$ 70,400	$ 2,200

Long-Term Debt - Debt Issuance

Long-Term Debt - Debt Issuance Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	May 31, 2018	Dec. 31, 2017	Jan. 06, 2016
Debt Instrument [Line Items]
Debt issuance costs	$ 31,800		$ 31,800
Debt issuance costs	28,865		28,865			$ 39,532
Amortization of debt issuance costs	1,400	$ 2,000	3,325	$ 4,371
Gain (loss) on extinguishment of debt	(72,330)	$ 0	(79,921)	(19,738)
Write off of previously capitalized deferred financing costs			18,700
Gain (loss) due to repurchase of debt			(46,400)
Interest Rate Swap
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt				$ 2,600
Term Loan
Debt Instrument [Line Items]
Debt issuance costs	11,000		11,000
Term Loan | Secured Debt
Debt Instrument [Line Items]
Write off of original issue discount			17,400
ABL Facility
Debt Instrument [Line Items]
Debt issuance costs	2,900		2,900
Debt issuance costs	0		0			0
ABL Facility | Other current assets
Debt Instrument [Line Items]
Debt issuance costs	1,200		1,200
USD Tranche | Term Loan
Debt Instrument [Line Items]
Debt issuance costs	10,871		10,871			13,986
USD Tranche | Senior Notes
Debt Instrument [Line Items]
Debt issuance costs	3,100		3,100
Euro Tranche | Term Loan
Debt Instrument [Line Items]
Debt issuance costs	5,163		5,163			3,517
Euro Tranche | Senior Notes
Debt Instrument [Line Items]
Debt issuance costs	2,200		2,200
5.25% Senior Notes
Debt Instrument [Line Items]
Debt issuance costs	5,700		5,700
Debt instrument interest rate					5.25%
5.25% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Debt issuance costs	5,665		5,665			0
10.5% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Debt issuance costs	$ 0		$ 0			$ 14,409
Debt instrument interest rate							10.50%

Long-Term Debt - Remaining Prin

Long-Term Debt - Remaining Principal Payments on Outstanding Total Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
July 1, 2018 through June 30, 2019	$ 39,373
July 1, 2019 through June 30, 2020	97,245
July 1, 2020 through June 30, 2021	185
July 1, 2021 through June 30, 2022	50,196
July 1, 2022 through June 30, 2023	208
Thereafter	1,496,437
Total debt	$ 1,683,644	$ 1,683,700

Fair Value Measurements, Fina49

Fair Value Measurements, Financial Instruments, and Credit Risk - Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value Measurements at Reporting Date Using - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total	$ 9,991	$ 8,264
Other current assets
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative asset – current	2,246	1,629
Other long-term assets
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative asset – noncurrent	5,241	3,801
Retirement plan asset – noncurrent	2,504	2,435
Other payables and accruals
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative liability – current		399
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total	2,504	2,435
Quoted Prices in Active Markets for Identical Assets (Level 1) | Other current assets
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative asset – current	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Other long-term assets
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative asset – noncurrent	0	0
Retirement plan asset – noncurrent	2,504	2,435
Quoted Prices in Active Markets for Identical Assets (Level 1) | Other payables and accruals
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative liability – current		0
Significant Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total	7,487	5,829
Significant Other Observable Inputs (Level 2) | Other current assets
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative asset – current	2,246	1,629
Significant Other Observable Inputs (Level 2) | Other long-term assets
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative asset – noncurrent	5,241	3,801
Retirement plan asset – noncurrent	0	0
Significant Other Observable Inputs (Level 2) | Other payables and accruals
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative liability – current		399
Significant Unobservable Inputs (Level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total	0	0
Significant Unobservable Inputs (Level 3) | Other current assets
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative asset – current	0	0
Significant Unobservable Inputs (Level 3) | Other long-term assets
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative asset – noncurrent	0	0
Retirement plan asset – noncurrent	$ 0	0
Significant Unobservable Inputs (Level 3) | Other payables and accruals
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative liability – current		$ 0

Fair Value Measurements, Fina50

Fair Value Measurements, Financial Instruments, and Credit Risk - Carrying Values and Approximate Fair Values of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Carrying Value | Significant Other Observable Inputs (Level 2) | ABL Facility
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	$ 50,000	$ 0
Carrying Value | Significant Other Observable Inputs (Level 2) | Term Loan | USD Tranche
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	390,000	485,000
Carrying Value | Significant Other Observable Inputs (Level 2) | Term Loan | Euro Tranche
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	367,638	198,265
Carrying Value | Significant Other Observable Inputs (Level 2) | Capital lease obligation
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	1,567	2,086
Carrying Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Senior Notes | 10.5% Senior Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	0	440,000
Carrying Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Senior Notes | 7.0% Senior Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	400,000	400,000
Carrying Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Senior Notes | 5.25% Senior Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	338,461	0
Carrying Value | Significant Unobservable Inputs (Level 3) | KFPC Loan Agreement
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	129,428	149,919
Carrying Value | Significant Unobservable Inputs (Level 3) | KFPC Revolving Facilities
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	6,550	8,430
Fair Value | Significant Other Observable Inputs (Level 2) | ABL Facility
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	50,000	0
Fair Value | Significant Other Observable Inputs (Level 2) | Term Loan | USD Tranche
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	390,246	490,762
Fair Value | Significant Other Observable Inputs (Level 2) | Term Loan | Euro Tranche
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	366,031	200,495
Fair Value | Significant Other Observable Inputs (Level 2) | Capital lease obligation
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	1,567	2,086
Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Senior Notes | 10.5% Senior Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	0	499,171
Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Senior Notes | 7.0% Senior Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	414,340	432,028
Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | Senior Notes | 5.25% Senior Notes
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	341,517	0
Fair Value | Significant Unobservable Inputs (Level 3) | KFPC Loan Agreement
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	129,428	149,919
Fair Value | Significant Unobservable Inputs (Level 3) | KFPC Revolving Facilities
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	$ 6,550	$ 8,430

Fair Value Measurements, Fina51

Fair Value Measurements, Financial Instruments, and Credit Risk - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Jun. 04, 2018USD ($)	May 31, 2018EUR (€)	Jan. 03, 2017USD ($)
Derivative [Line Items]
Reclassification of gain on cash flow hedge	$ 0	$ 0	$ 2,587,000	$ 41,000
Europe
Derivative [Line Items]
Face amount | €						€ 290,000,000
Mark to market gain recorded in accumulated other comprehensive loss			3,500,000
Interest Rate Swap
Derivative [Line Items]
Notional amount	390,000,000		390,000,000		$ 90,000,000		$ 925,400,000
Unrealized gain (loss) on derivatives	$ 900,000	(1,200,000)	4,600,000	100,000
Reclassification of gain on cash flow hedge			$ 2,600,000
Interest Rate Swap | LIBOR Rate Plus
Derivative [Line Items]
Derivative, variable interest rate	1.749%		1.749%
Interest Rate Swap | Short
Derivative [Line Items]
Notional amount	$ 625,400,000		$ 625,400,000
Foreign Currency Hedges
Derivative [Line Items]
Aggregate gain on settlement of hedges	$ 200,000	$ 3,200,000	$ 100,000	$ 3,100,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2018	Dec. 31, 2017
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)	$ (1,842)	$ 3,854	$ 409	$ 5,072
Effective tax rate	11.60%	14.10%	4.90%	15.50%
Valuation allowance for deferred tax assets	$ 51,700		$ 51,700			$ 51,300
Increase (decrease) in valuation allowance	600	$ (400)	$ 400	$ (300)
Transition tax on accumulated foreign earnings, percent			15.50%
Transition tax on accumulated foreign earnings, remaining earnings, percent			8.00%
Transition tax for accumulated foreign earnings, provisional liability	46,300		$ 46,300
Change in tax rate, deferred tax asset, income tax expense (benefit)			95,000
Unrecognized tax benefits	25,300		25,300			$ 24,400
Increase (decrease) in uncertain tax positions	$ 100	$ 1,000	900	$ 1,300
Scenario, Forecast
Operating Loss Carryforwards [Line Items]
Release of Valuation Allowance					$ 900
Federal Tax Administration (FTA)
Operating Loss Carryforwards [Line Items]
Change in tax rate, deferred tax asset, income tax expense (benefit)			$ 68,900
Netherlands
Operating Loss Carryforwards [Line Items]
Income taxes at the statutory rate				25.00%
Sweden
Operating Loss Carryforwards [Line Items]
Income taxes at the statutory rate				22.00%
Finland
Operating Loss Carryforwards [Line Items]
Income taxes at the statutory rate				20.00%

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Effective Tax Rate, Amount (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Income taxes at the statutory rate	$ 3,349	$ (9,548)	$ (1,757)	$ (11,440)
State taxes, net of federal benefit	207	231	(147)	92
Foreign tax rate differential	1,361	3,876	4,200	5,666
Permanent differences	(1,879)	2,056	141	1,726
Uncertain tax positions	(526)	(580)	(1,053)	(1,155)
Valuation allowance	(645)	392	(443)	317
Return to provision adjustments	(25)	0	(1,350)	3
Other	0	(281)	0	(281)
Income tax benefit (expense)	$ 1,842	$ (3,854)	$ (409)	$ (5,072)

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) R$ in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2018BRL (R$)	Jun. 30, 2018BRL (R$)	Dec. 31, 2017USD ($)
Loss Contingencies [Line Items]
Additional tax assessment	$ 0.4	R$ 1.5
Tax credits generated from purchase of certain goods	2.4		R$ 9.2
Shell Chemicals
Loss Contingencies [Line Items]
Receivables	$ 0.2			$ 3.3

Commitments and Contingencies55

Commitments and Contingencies - Changes in Aggregate Carrying Amount of Asset Retirement Obligation Liability (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning balance	$ 5,712	$ 8,863
Additional accruals	0	439
Accretion expense	168	156
Obligations settled	(40)	(877)
Foreign currency translation	(141)	332
Ending balance	$ 5,699	$ 8,913

Employee Benefits - Components

Employee Benefits - Components of Net Periodic Benefit Cost Related to U.S Pension Benefits (Details) - Pension Plan - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
U.S Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 906	$ 770	$ 1,793	$ 1,600
Interest cost	1,795	1,848	3,590	3,662
Expected return on plan assets	(2,453)	(2,348)	(4,905)	(4,701)
Amortization of prior service cost	(1,235)	903	0	1,810
Amortization of net actuarial loss	2,452	0	2,452	0
Net periodic benefit cost	1,465	1,173	2,930	2,371
Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	632	657	1,283	1,303
Interest cost	527	654	1,068	1,375
Expected return on plan assets	(684)	(733)	(1,384)	(1,560)
Amortization of prior service cost	4	49	7	105
Amortization of net actuarial loss	163	0	331	0
Net periodic benefit cost	$ 642	$ 627	$ 1,305	$ 1,223

Employee Benefits - Additional

Employee Benefits - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Retirement Benefits [Abstract]
Employer contributions	$ 6.6	$ 4

Employee Benefits - Component58

Employee Benefits - Components of Net Periodic Cost Related to Other Post-Retirement Benefits (Details) - Other Postretirement Benefits Plan - U.S Plans - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 124	$ 145	$ 279	$ 290
Interest cost	344	340	679	680
Amortization of prior service cost	194	150	382	300
Net periodic benefit cost	$ 662	$ 635	$ 1,340	$ 1,270

Industry Segments and Foreign59

Industry Segments and Foreign Operations - Additional Information (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)segment	Jun. 30, 2017USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment	2
Capital expenditures	$ 42,223	$ 50,791
Polymer
Segment Reporting Information [Line Items]
Capital expenditures	19,500	28,000
Chemical
Segment Reporting Information [Line Items]
Capital expenditures	$ 22,700	$ 22,800

Industry Segments and Foreign60

Industry Segments and Foreign Operations - Sales Revenue by Product Groups (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Revenue	$ 538,395	$ 525,320	$ 1,040,787	$ 983,445
Cost of goods sold	368,019	377,483	723,360	691,683
Gross profit	170,376	147,837	317,427	291,762
Operating expenses:
Research and development	10,474	9,647	21,271	19,884
Selling, general, and administrative	41,975	41,132	80,698	81,546
Depreciation and amortization	35,140	34,590	70,516	67,733
Operating income	82,787	62,468	144,942	122,599
Other expense	(1,107)	(863)	(2,220)	(1,671)
Loss on extinguishment of debt	(72,330)	0	(79,921)	(19,738)
Earnings of unconsolidated joint venture	120	118	257	245
Interest expense, net	(25,416)	(34,444)	(54,692)	(68,749)
Income (loss) before income taxes	(15,946)	27,279	8,366	32,686
Polymer
Segment Reporting Information [Line Items]
Revenue	338,150	335,118	627,221	606,066
Operating expenses:
Selling, general, and administrative				48,671
Chemical
Segment Reporting Information [Line Items]
Revenue	200,245	190,202	$ 413,566	$ 377,379
Cost of goods sold	$ 139,545
Operating expenses:
Selling, general, and administrative		$ 15,798

Industry Segments and Foreign61

Industry Segments and Foreign Operations - Long-lived Assets Including Goodwill and Total Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Property, plant, and equipment, net	$ 929,765	$ 958,723
Investment in unconsolidated joint venture	12,043	12,380
Goodwill	773,723	774,319
Total assets	2,938,461	2,932,527
Polymer
Segment Reporting Information [Line Items]
Investment in unconsolidated joint venture		12,380
Total assets	1,167,122
Chemical
Segment Reporting Information [Line Items]
Investment in unconsolidated joint venture	$ 0
Total assets		$ 1,806,901

Industry Segments and Foreign62

Industry Segments and Foreign Operations - Sales Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	$ 538,395	$ 525,320	$ 1,040,787	$ 983,445
U.S Plans
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	191,491		376,544	349,294
Germany
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	52,515	55,472	100,593	102,943
All other countries
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	294,389	287,890	563,650	531,208
Polymer
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	338,150	335,118	627,221	606,066
Polymer | Reportable Geographic Regions | U.S Plans
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	110,260		213,989	191,383
Polymer | Reportable Geographic Regions | Germany
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	39,665		71,507	72,034
Polymer | Reportable Geographic Regions | All other countries
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	188,225	193,218	341,725	342,649
Chemical
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	200,245	190,202	413,566	377,379
Chemical | Reportable Geographic Regions | U.S Plans
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	81,231	80,919	162,555	157,911
Chemical | Reportable Geographic Regions | Germany
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	12,850		29,086	30,909
Chemical | Reportable Geographic Regions | All other countries
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	$ 106,164	$ 94,672	$ 221,925	$ 188,559

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Variable Interest Entity, Primary Beneficiary | KFPC
Related Party Transaction [Line Items]
Outstanding payables	$ 0.3		$ 0.3		$ 1.5
Variable interest entity, ownership percentage			50.00%
Purchases from related party	$ 7.4	$ 2.9	$ 13.1	$ 4.2
Styrenic Block Copolymer Joint Venture
Related Party Transaction [Line Items]
Percentage of equity investment	50.00%		50.00%
Outstanding payables	$ 16.3		$ 16.3		$ 17.7
Related party liability	$ 7.2	$ 7.8	$ 16.3	$ 20.5

Variable Interest Entity - Addi

Variable Interest Entity - Additional Information (Details)	6 Months Ended
	Jun. 30, 2018kt
KFPC | Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Variable interest entity, ownership percentage	50.00%
Minimum purchase commitment of plant production (as a percent)	80.00%
Joint venture | Taiwan | Formosa Petrochemical Corporation
Variable Interest Entity [Line Items]
Capacity of HSBC plant	30

Variable Interest Entity - Summ

Variable Interest Entity - Summary of Carrying Amounts of Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Noncontrolling Interest [Line Items]
Cash and cash equivalents	$ 55,304	$ 89,052	$ 128,712	$ 121,749
Other current assets	29,364	36,615
Property, plant, and equipment, net	929,765	958,723
Intangible assets	383,296	406,863
Other long-term assets	39,242	39,688
Total assets	2,938,461	2,932,527
Current portion of long-term debt	39,373	42,647
Current liabilities	330,460	350,712
Long-term debt	1,607,484	1,574,881
Total liabilities	2,270,874	2,266,008
KFPC
Noncontrolling Interest [Line Items]
Cash and cash equivalents	8,678	13,848
Other current assets	17,421	21,399
Property, plant, and equipment, net	164,626	173,363
Intangible assets	8,979	9,585
Other long-term assets	16,234	13,972
Total assets	215,938	232,167
Current portion of long-term debt	38,907	41,745
Current liabilities	20,177	13,938
Long-term debt	96,928	116,408
Total liabilities	$ 156,012	$ 172,091