Kraton (KRA) 10-Q 25 Apr 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 23, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	Kraton Corp
Entity Central Index Key	0001321646
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Trading Symbol	KRA
Amendment Flag	false
Entity Common Stock, Shares Outstanding		32,015,635

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 37,161	$ 85,891
Receivables, net of allowances of $873 and $784	258,211	198,046
Inventories of products, net	413,700	410,640
Inventories of materials and supplies, net	31,002	30,843
Prepaid expenses	11,124	10,156
Other current assets	27,691	29,980
Total current assets	778,889	765,556
Property, plant, and equipment, less accumulated depreciation of $614,451 and $597,785	937,301	941,476
Goodwill	772,462	772,886
Intangible assets, less accumulated amortization of $257,331 and $246,648	353,749	362,038
Investment in unconsolidated joint venture	11,500	12,070
Debt issuance costs	878	1,170
Deferred income taxes	9,906	10,434
Long-term operating lease assets, net	64,309
Other long-term assets	27,944	29,074
Total assets	2,956,938	2,894,704
Current liabilities:
Current portion of long-term debt	120,255	45,321
Accounts payable-trade	180,374	182,153
Other payables and accruals	108,489	100,695
Due to related party	17,238	20,918
Total current liabilities	426,356	349,087
Long-term debt, net of current portion	1,411,252	1,487,298
Deferred income taxes	126,851	127,827
Long-term operating lease liabilities	49,907
Other long-term liabilities	180,518	182,893
Total liabilities	2,194,884	2,147,105
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; 32,019 shares issued and outstanding at March 31, 2019; 31,917 shares issued and outstanding at December 31, 2018	320	319
Additional paid in capital	389,500	385,921
Retained earnings	431,855	420,597
Accumulated other comprehensive loss	(92,917)	(91,699)
Total Kraton stockholders' equity	728,758	715,138
Noncontrolling interest	33,296	32,461
Total equity	762,054	747,599
Total liabilities and equity	$ 2,956,938	$ 2,894,704

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Receivables, allowances	$ 873	$ 784
Accumulated depreciation	614,451	597,785
Total accumulated amortization	$ 257,331	$ 246,648
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)	32,019,000	31,917,000
Common stock, shares outstanding (in shares)	32,019,000	31,917,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Revenue	$ 456,411	$ 502,392
Cost of goods sold	349,409	355,314
Gross profit	107,002	147,078
Operating expenses:
Research and development	10,551	10,797
Selling, general, and administrative	40,894	38,723
Depreciation and amortization	31,522	35,376
Gain on insurance proceeds	(11,100)	0
Loss on disposal of fixed assets	0	27
Operating income	35,135	62,155
Other expense	(259)	(1,113)
Gain (loss) on extinguishment of debt	210	(7,591)
Earnings of unconsolidated joint venture	121	137
Interest expense, net	(18,941)	(29,276)
Income before income taxes	16,266	24,312
Income tax expense	(2,654)	(2,251)
Consolidated net income	13,612	22,061
Net (income) loss attributable to noncontrolling interest	(944)	11
Net income attributable to Kraton	$ 12,668	$ 22,072
Earnings per common share:
Basic (in dollars per share)	$ 0.40	$ 0.69
Diluted (in dollars per share)	$ 0.39	$ 0.68
Weighted average common shares outstanding:
Basic (in shares)	31,633	31,241
Diluted (in share)	31,901	31,851

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income attributable to Kraton	$ 12,668	$ 22,072
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax of $0	(4,496)	3,619
Unrealized gain (loss) on cash flow hedges, net of tax benefit of $387 and expense of $867, respectively	(1,316)	2,893
Reclassification of gain on cash flow hedge, net of tax expense of $588	0	(1,999)
Unrealized gain on net investment hedge, net of tax expense of $1,352	4,594	0
Other comprehensive income (loss), net of tax	(1,218)	4,513
Comprehensive income attributable to Kraton	11,450	26,585
Comprehensive income attributable to noncontrolling interest	835	522
Consolidated comprehensive income	$ 12,285	$ 27,107

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax effect	$ 0	$ 0
Unrealized gain (loss) on cash flow hedges, tax effect	(387)	867
Reclassification of (gain) loss on cash flow hedge, tax effect	0	588
Unrealized gain on net investment hedge, tax effect	$ 1,352	$ 0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total Kraton Stockholders' Equity	Noncontrolling Interest
Beginning balance at Dec. 31, 2017	$ 666,519	$ 316	$ 377,957	$ 356,503	$ (98,295)	$ 636,481	$ 30,038
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Consolidated net income (loss)	22,061			22,072		22,072	(11)
Other comprehensive loss	5,046				4,513	4,513	533
Retired treasury stock from employee tax withholdings	(5,748)	(1)	(3,020)	(2,727)		(5,748)
Exercise of stock options	1,368	1	1,367			1,368
Non-cash compensation related to equity awards	2,902	3	2,899			2,902
Ending balance at Mar. 31, 2018	692,148	319	379,203	375,848	(93,782)	661,588	30,560
Beginning balance at Dec. 31, 2018	747,599	319	385,921	420,597	(91,699)	715,138	32,461
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Consolidated net income (loss)	13,612			12,668		12,668	944
Other comprehensive loss	(1,327)				(1,218)	(1,218)	(109)
Retired treasury stock from employee tax withholdings	(2,684)		(1,274)	(1,410)		(2,684)
Exercise of stock options	1,545	1	1,544			1,545
Non-cash compensation related to equity awards	3,309		3,309			3,309
Ending balance at Mar. 31, 2019	$ 762,054	$ 320	$ 389,500	$ 431,855	$ (92,917)	$ 728,758	$ 33,296

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Consolidated net income	$ 13,612	$ 22,061
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation and amortization	31,522	35,376
Lease amortization	4,767	0
Amortization of debt original issue discount	267	1,090
Amortization of debt issuance costs	1,110	1,945
Loss on disposal of property, plant, and equipment	0	27
(Gain) loss on extinguishment of debt	(210)	7,591
Earnings from unconsolidated joint venture, net of dividends received	410	408
Deferred income tax provision (benefit)	(595)	(91)
Share-based compensation	3,309	2,902
Decrease (increase) in:
Accounts receivable	(63,164)	(43,428)
Inventories of products, materials, and supplies	(5,877)	1,932
Other assets	861	10,813
Increase (decrease) in:
Accounts payable-trade	(1,134)	(1,684)
Other payables and accruals	(9,397)	(19,235)
Other long-term liabilities	(2,177)	(1,958)
Due to related party	(3,508)	2,403
Net cash provided by (used in) operating activities	(30,204)	20,152
CASH FLOWS FROM INVESTING ACTIVITIES
Kraton purchase of property, plant, and equipment	(22,327)	(23,373)
KFPC purchase of property, plant, and equipment	(783)	(201)
Purchase of software and other intangibles	(3,287)	(437)
Net cash used in investing activities	(26,397)	(24,011)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from debt	19,500	211,614
Repayments of debt	(4,310)	(212,000)
KFPC proceeds from debt	14,600	10,197
KFPC repayments of debt	(19,594)	(25,337)
Capital lease payments	(41)	(258)
Purchase of treasury stock	(2,684)	(5,748)
Proceeds from the exercise of stock options	1,545	1,368
Settlement of interest rate swap	0	2,587
Debt issuance costs	0	(3,110)
Net cash provided by (used in) financing activities	9,016	(20,687)
Effect of exchange rate differences on cash	(1,145)	347
Net decrease in cash and cash equivalents	(48,730)	(24,199)
Cash and cash equivalents, beginning of period	85,891	89,052
Cash and cash equivalents, end of period	37,161	64,853
Supplemental disclosures during the period:
Cash paid for income taxes, net of refunds received	4,137	719
Cash paid for interest, net of capitalized interest	6,009	21,332
Capitalized interest	1,205	712
Supplemental non-cash disclosures: increase (decrease) during the period
Property, plant, and equipment accruals	(7,197)	(6,369)
Operating leases	$ 70,878	$ 0

General

General	3 Months Ended
	Mar. 31, 2019
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 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, 2018 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. Leases. See Note 2 New Accounting Pronouncements , for the impact of ASC 842 Leases , a dopted in the current period . 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 (“GAAP”) 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	3 Months Ended
	Mar. 31, 2019
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 February 2016, the FASB established Topic 842, Leases , by issuing ASU 2016-02, which requires lessees to recognize leases on-balance sheet and disclose key information about leasing arrangements. Topic 842 was subsequently amended by ASU 2018-01, Land Easement Practical Expedient for Transition to Topic 842 ; ASU 2018-10, Codification Improvements to Topic 842, Leases ; and ASU 2018-11, Targeted Improvements . The new standard establishes a ROU model that requires a lessee to recognize a ROU asset and lease liability on the balance sheet for all leases with a term longer than twelve months. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the income statement. We adopted the new standard on January 1, 2019 and used the effective date as our date of initial application. The new standard provides a number of optional practical expedients in transition. We elected the following practical expedients: (1) ‘package of practical expedients’, which permits us not to reassess under the new standard our prior conclusions about lease identification, lease classification, and initial direct costs; (2) the short-term lease recognition exemption for all leases that qualify; and (3) the practical expedient to not separate lease and non-lease components for all of our leases. This standard had a material effect on our financial statements. The most significant effects relate to: (1) the recognition of new ROU assets and lease liabilities on our balance sheet for our equipment, building, and vehicle operating leases; (2) the derecognition of existing assets and liabilities for straight line lease accounting under ASC 840 Leases ; and (3) providing significant new disclosures about our leasing activities. On adoption, we recognized additional operating liabilities of $70.9 million , with corresponding ROU assets of the same amount based on the present value of the remaining minimum rental payments under current leasing standards for existing operating leases. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . The objective of this ASU is to improve the financial reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its financial statements and make certain targeted improvements to simplify the application of the hedge accounting guidance in current GAAP. 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 analysis of ASU 2017-12 was completed during 2018 and there is no material change to our financial position, results of operations, and cash flows. We adopted ASU 2017-12 effective January 1, 2019. In October 2018, the FASB issued ASU 2018-16, Derivatives and Hedging (Topic 815)-Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes. 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 analysis of ASU 2018-16 was completed during 2018 and there is no material change to our financial position, results of operations, and cash flows. We adopted ASU 2018-16 effective 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 analysis of ASU 2018-02 was completed during 2018 and there is no material change to our financial position, results of operations, and cash flows. We adopted ASU 2018-02 effective January 1, 2019. New Accounting Standards to be Adopted in Future Periods 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, and we expect to adopt ASU 2017-04 effective on January 1, 2020. In November 2018, the FASB issued ASU 2018-18, Collaborative Arrangements (Topic 808): Clarifying the Interaction between Topic 808 and Topic 606. This standard is effective for fiscal years beginning after December 15, 2019, 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 2018-18 effective on January 1, 2020.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2019
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 $13.3 million related to contractual commitments with customers for which 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 is 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 months ended March 31, 2019 , we recognized $5.8 million of revenue related to these arrangements. 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 March 31, 2019 2018 (In thousands) Performance Products $ 138,092 $ 145,730 Specialty Polymers 82,010 104,018 Cariflex 40,867 39,525 Other 86 (202 ) Polymer Product Line Revenue $ 261,055 $ 289,071 Three Months Ended March 31, 2019 2018 (In thousands) Adhesives $ 65,576 $ 73,148 Performance Chemicals 116,753 122,941 Tires 13,027 17,232 Chemical Product Line Revenue $ 195,356 $ 213,321 March 31, 2019 December 31, 2018 (In thousands) Contract receivables (1) $ 259,015 $ 197,739 Contract liabilities (2) $ 13,343 $ 13,906 ____________________________________________________ (1) Contract receivables are recorded within receivables, net of allowances on our Condensed Consolidated Balance Sheets. (2) Our contract liability decreased by $0.3 million , as a result of meeting the performance obligation, which was recognized in our Specialty Polymers product line revenue, and decreased approximately $0.2 million due to the change in currency exchange rates.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2019
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 $3.3 million and $2.9 million for the three months ended March 31, 2019 and 2018 , respectively.

Detail of Certain Balance Sheet

Detail of Certain Balance Sheet Accounts	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Detail of Certain Balance Sheet Accounts	Detail of Certain Balance Sheet Accounts March 31, 2019 December 31, 2018 (In thousands) Inventories of products: Finished products $ 323,524 $ 315,361 Work in progress 5,870 5,781 Raw materials 91,123 97,550 Inventories of products, gross 420,517 418,692 Inventory reserves (6,817 ) (8,052 ) Total inventories of products, net $ 413,700 $ 410,640 Intangible assets: Contractual agreements $ 261,939 $ 262,624 Technology 145,435 145,698 Customer relationships 60,293 60,359 Tradenames/trademarks 80,994 80,557 Software 62,419 59,448 Intangible assets 611,080 608,686 Less accumulated amortization: Contractual agreements 71,235 65,958 Technology 63,509 62,019 Customer relationships 37,740 37,409 Tradenames/trademarks 44,117 42,797 Software 40,730 38,465 Total accumulated amortization 257,331 246,648 Intangible assets, net of accumulated amortization $ 353,749 $ 362,038 Other payables and accruals: Employee related $ 23,794 $ 35,015 Interest payable 13,839 2,201 Property, plant, and equipment accruals 9,758 10,982 Short-term operating lease liabilities 17,529 — Other 43,569 52,497 Total other payables and accruals $ 108,489 $ 100,695 Other long-term liabilities: Pension and other post-retirement benefits $ 121,348 $ 122,194 Other 59,170 60,699 Total other long-term liabilities $ 180,518 $ 182,893 Changes in accumulated other comprehensive income (loss) by component were as follows: Cumulative Foreign Currency Translation Cash Flow Hedges, Net of Tax Net Investment Hedges, Net of Tax Benefit Plans Liability, Net of Tax Total (In thousands) December 31, 2017 $ (9,654 ) $ 4,550 $ (1,926 ) $ (91,265 ) $ (98,295 ) Other comprehensive income before reclassifications 3,619 2,893 — — 6,512 Amounts reclassified from accumulated other comprehensive loss — (1,999 ) — — (1,999 ) Net other comprehensive income for the year 3,619 894 — — 4,513 March 31, 2018 $ (6,035 ) $ 5,444 $ (1,926 ) $ (91,265 ) $ (93,782 ) December 31, 2018 $ (24,093 ) $ 3,922 $ 6,153 $ (77,681 ) $ (91,699 ) Other comprehensive income (loss) before reclassifications (4,496 ) (1,316 ) 4,594 — (1,218 ) Net other comprehensive income (loss) for the year (4,496 ) (1,316 ) 4,594 — (1,218 ) March 31, 2019 $ (28,589 ) $ 2,606 $ 10,747 $ (77,681 ) $ (92,917 )

Earnings Per Share ("EPS")

Earnings Per Share ("EPS")	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 Three Months Ended March 31, 2018 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 $ 12,668 31,956 $ 22,072 31,771 Amounts allocated to unvested restricted shares (128 ) (323 ) (368 ) (530 ) Amounts available to common stockholders 12,540 31,633 $ 0.40 21,704 31,241 $ 0.69 Diluted: Amounts allocated to unvested restricted shares 128 323 368 530 Non participating share units — 205 — 280 Stock options added under the treasury stock method — 63 — 330 Amounts reallocated to unvested restricted shares (127 ) (323 ) (361 ) (530 ) Amounts available to stockholders and assumed conversions $ 12,541 31,901 $ 0.39 $ 21,711 31,851 $ 0.68 Share Repurchase Program. In February 2019, we announced a repurchase program for up to $50.0 million of the Company's common stock by March 2021. Repurchases may be made at management's discretion from time to time through privately-negotiated transactions, in the open market, or through broker-negotiated purchases in compliance with applicable securities law, including through a 10b5-1 Plan. The repurchase program may be suspended for periods or discontinued at any time, and the amount and timing of the repurchases are subject to a number of factors, including Kraton's stock price. During the three months ended March 31, 2019, we did not repurchase any shares of our common stock. We are not obligated to acquire any specific number of shares of our common stock.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consists of the following: March 31, 2019 December 31, 2018 Principal Discount Debt Issuance Costs Total Principal Discount Debt Issuance Costs Total (In thousands) USD Tranche $ 362,000 $ (7,129 ) $ (9,814 ) $ 345,057 $ 362,000 $ (7,395 ) $ (10,171 ) $ 344,434 Euro Tranche 336,750 — (4,455 ) 332,295 342,900 — (4,711 ) 338,189 7.0% Senior Notes 394,750 — (6,428 ) 388,322 399,060 — (6,622 ) 392,438 5.25% Senior Notes 325,524 — (5,347 ) 320,177 331,470 — (5,503 ) 325,967 ABL Facility 24,500 — — 24,500 5,000 — — 5,000 KFPC Loan Agreement 96,093 — (71 ) 96,022 112,489 — (94 ) 112,395 KFPC Revolving Facilities 23,991 — — 23,991 13,012 — — 13,012 Capital lease obligation 1,143 — — 1,143 1,184 — — 1,184 Total debt 1,564,751 (7,129 ) (26,115 ) 1,531,507 1,567,115 (7,395 ) (27,101 ) 1,532,619 Less current portion of total debt 120,255 — — 120,255 45,321 — — 45,321 Long-term debt $ 1,444,496 $ (7,129 ) $ (26,115 ) $ 1,411,252 $ 1,521,794 $ (7,395 ) $ (27,101 ) $ 1,487,298 Senior Secured Term Loan Facility. As of March 31, 2019 , 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 $362.0 million and outstanding borrowings under the Euro denominated tranche (the “Euro Tranche”) of the Term Loan Facility of €300.0 million , or approximately $336.8 million . Our USD Tranche interest rate applicable margin is 2.5% and our alternative base rate applicable margin is 1.5% . The Euro Tranche interest rate applicable margin is 2.0% . Our Term Loan Facility will mature on March 8, 2025. For a summary of additional terms of the Term Loan Facility, see Note 9 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 4.28% 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 those covenants as of the date of this filing. 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. On December 6, 2018 we commenced a repurchase program for up to $20.0 million of our 7.0% Senior Notes. Purchases under the program took place from time to time in the open market and through privately negotiated transactions, including pursuant to a 10b5-1 Plan. During the three months ended March 31, 2019 , we repurchased $4.3 million of our 7.0% Senior Notes. We recorded a $0.2 million gain on extinguishment of debt during the three months ended March 31, 2019 , which includes a write off of $0.1 million related to previously capitalized deferred financing costs. The repurchase program ended March 4, 2019. 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 $325.5 million as of March 31, 2019 , 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. 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. Our outstanding borrowings under the ABL facility were $24.5 million as of March 31, 2019 . The ABL Facility matures on January 6, 2021. 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 those covenants as of the date of this filing. For a summary of additional terms of the ABL Facility, see Note 9 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 March 31, 2019 , NTD 3.0 billion , or approximately $96.1 million , was drawn on KFPC's syndicated loan agreement (the “KFPC Loan Agreement”). For the three months ended March 31, 2019 , 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. KFPC was in compliance with certain covenants as of the date of this filing. Additionally, due to a waiver received from the majority of lenders, we are no longer subject to the remaining 2019 financial covenants. In each case, these covenants are calculated and tested on an annual basis at December 31 st each year. The KFPC Loan Agreement matures January 17, 2020. Subject to the terms within the KFPC Loan Agreement, we expect to elect the extension provision whereby we have the option, up to six months prior to the final maturity date, to apply to the facility agent in writing for an extension of the facility period for another two years, or January 17, 2022. For a summary of additional terms of the KFPC Loan Agreement, see Note 9 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 $69.7 million . All of the KFPC Revolving Facilities are subject to variable interest rates. As of March 31, 2019 , NTD 740.0 million , or approximately $24.0 million , was drawn on the KFPC Revolving Facilities. Debt Issuance Costs. We had net debt issuance cost of $28.2 million as of March 31, 2019 , of which $2.0 million related to the ABL Facility is recorded as an asset (of which $1.2 million was included in other current assets) and $26.1 million is recorded as a reduction to long-term debt. We amortized $1.1 million and $1.9 million during the three months ended March 31, 2019 and 2018 , respectively. Debt Maturities . The remaining principal payments on our outstanding total debt as of March 31, 2019 , are as follows: Principal Payments (In thousands) April 1, 2019 through March 31, 2020 $ 120,255 April 1, 2020 through March 31, 2021 24,682 April 1, 2021 through March 31, 2022 193 April 1, 2022 through March 31, 2023 205 April 1, 2023 through March 31, 2024 218 Thereafter 1,419,198 Total debt $ 1,564,751 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	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 and December 31, 2018 . 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 March 31, 2019 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 $ 1,047 $ — $ 1,047 $ — Derivative asset – noncurrent Other long-term assets 2,442 — 2,442 — Retirement plan asset – noncurrent Other long-term asset 2,613 2,613 — — Derivative liability – current Other payables and accruals 203 — 203 — Total $ 6,305 $ 2,613 $ 3,692 $ — Fair Value Measurements at Reporting Date Using Balance Sheet Location December 31, 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 $ 1,558 $ — $ 1,558 $ — Derivative asset – noncurrent Other long-term assets 3,635 — 3,635 — Retirement plan asset – noncurrent Other long-term assets 2,485 2,485 — — Derivative liability – current Other payables and accruals 13 — 13 — Total $ 7,691 $ 2,485 $ 5,206 $ — The following table presents the carrying values and approximate fair values of our long-term debt. March 31, 2019 December 31, 2018 Carrying Value Fair Value Carrying Value Fair Value (In thousands) USD Tranche (significant other observable inputs – level 2) $ 362,000 $ 359,285 $ 362,000 $ 352,498 Euro Tranche (significant other observable inputs – level 2) $ 336,750 $ 336,541 $ 342,900 $ 338,830 7.0% Senior Notes (quoted prices in active market for identical assets – level 1) $ 394,750 $ 399,594 $ 399,060 $ 369,561 5.25% Senior Notes (quoted prices in active market for identical assets – level 1) $ 325,524 $ 331,553 $ 331,470 $ 299,125 ABL Facility (significant other observable inputs – level 2) $ 24,500 $ 24,500 $ 5,000 $ 5,000 Capital lease obligation (significant other observable inputs – level 2) $ 1,143 $ 1,143 $ 1,184 $ 1,184 KFPC Loan Agreement (significant unobservable inputs – level 3) $ 96,093 $ 96,093 $ 112,489 $ 112,489 KFPC Revolving Facilities (significant unobservable inputs – level 3) $ 23,991 $ 23,991 $ 13,012 $ 13,012 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 $715.4 million of our interest rate swaps as of December 31, 2018, including the expiration of the notional value of $90.0 million interest rate swap agreement entered into in May 2018. As a result, at March 31, 2019 , the total notional value of our interest rate swaps was $300.0 million , which effectively hedges the outstanding USD Tranche, fixing LIBOR at 1.608% . We recorded an unrealized loss of $1.7 million and an unrealized gain of $3.8 million during the three months ended March 31, 2019 and 2018 , respectively, in 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 a $2.6 million gain for the three months ended 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 loss of $2.2 million and $0.1 million for the three months ended March 31, 2019 and 2018 , 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 year ended December 31, 2018, we designated €290.0 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 was a gain of $5.9 million for the three months ended March 31, 2019 , respectively, which is recorded within accumulated other comprehensive income (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	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our income tax provision was an expense of $2.7 million and $2.3 million for the three months ended March 31, 2019 and 2018 , respectively. Our effective tax rate was 16.3% and 9.3% for the three months ended March 31, 2019 and 2018 , respectively. During the three months ended March 31, 2019 , 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, the tax impact of certain permanent items, and our uncertain tax positions. During the three months ended March 31, 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 a $3.1 million benefit related to share-based compensation tax deductions. 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 March 31, 2019 2018 Income taxes at the statutory rate (21.0 )% (21.0 )% State taxes, net of federal benefit (1.4 ) (1.5 ) Foreign tax rate differential (0.4 ) 11.7 Permanent differences 9.4 8.3 Uncertain tax positions (3.8 ) (2.2 ) Valuation allowance 0.8 0.8 Return to provision adjustments 0.1 (5.4 ) Other — — Effective tax rate (16.3 )% (9.3 )% 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 March 31, 2019 and December 31, 2018 , we recorded a valuation allowance of $42.4 million and $42.5 million , respectively, against our net operating loss carryforwards and other deferred tax assets. We decreased our valuation allowances by $0.1 million for the three months ended March 31, 2019 , primarily related to current period utilization of net operating loss carryforwards in certain jurisdictions. We decreased our valuation allowances by $0.2 million for the three months ended March 31, 2018 . For the period ending December 31, 2018, 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 March 31, 2019 and December 31, 2018 , we had total unrecognized tax benefits of $30.1 million and $29.6 million , respectively, related to uncertain tax positions, all of which, if recognized, would impact our effective tax rate. During the three months ended March 31, 2019 and 2018 , we had an increase of $0.5 million and $0.8 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 $22.3 million reserve for the year ending December 31, 2019. The Tax Act enacted on December 22, 2017 introduced significant changes to U.S. income tax law. Effective 2018, the Tax Act reduced the U.S. statutory tax rate from 35.0% to 21.0% and created new taxes on certain foreign-sourced earnings and certain related-party payments. One-time transition tax The Tax Act required us to pay U.S. income taxes on accumulated foreign subsidiary earnings not previously subject 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. Related to the 2017 tax year, we recorded a $15.7 million one-time transitional tax liability. Any legislative changes, including the final Section 965 transition tax regulations issued on January 15, 2019, whose impact is currently being assessed due to the complexity and interdependency of the legislative provisions, as well as any other new or proposed Treasury regulations, which have yet to be issued, may result in additional income tax impacts which could be material in the period any such changes are enacted. Deferred tax effects Due to the change in the statutory tax rate from the Tax Act, 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. We recognized a deferred tax 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. For the period ending December 31, 2018, we completed our analysis based on legislative updates relating to the Tax Act and made no adjustments to the provisional amounts previously recorded.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies (a) Lease Commitments - accounted for under ASC 842 Leases Substantially all our operating lease ROU assets and operating lease liability represents leases, with a term greater than one year, for railcars, office space and equipment used to conduct our operations. We currently have no finance leases. These leases were discounted using a rate of 3.125% , which is based on a weighted average borrowing rate of specific debt. Non-variable lease costs include the amortization of the asset recorded on a straight-line basis. Variable lease components are non-index based payments based on performance or usage of the underlying asset. We have no material lessor or sublease income. The components of lease cost for operating leases are as follows: Three Months Ended March 31, 2019 (In thousands) Lease cost $ 4,576 Variable lease cost 191 Operating lease expense $ 4,767 The ROU assets for operating lease liabilities as of March 31, 2019 were comprised as follows: Leased Asset Class Polymer Chemical Percentage Average Months Remaining on the Lease Weighted Average in Months (in thousands) Railcars $ 697 $ 24,066 36.7 % 51 18.7 Buildings 13,439 9,820 34.5 % 34 11.7 Equipment 1,251 10,461 17.4 % 30 5.2 Land 6,509 42 9.7 % 475 46.1 Other 568 583 1.7 % 25 0.4 Total $ 22,464 $ 44,972 82.2 The following tables show the undiscounted cash flows for the operating lease liabilities. March 31, 2019 (In thousands) April 1, 2019 through March 31, 2020 $ 20,059 April 1, 2020 through March 31, 2021 17,315 April 1, 2021 through March 31, 2022 11,688 April 1, 2022 through March 31, 2023 7,490 April 1, 2023 through March 31, 2024 4,779 Thereafter 12,991 Total undiscounted operating lease liabilities $ 74,322 Present value discount (6,407 ) Foreign currency and other (479 ) Total discounted operating lease liabilities $ 67,436 December 31, 2018 (In thousands) 2019 $ 19,065 2020 16,891 2021 12,385 2022 8,284 2023 5,137 Thereafter 8,498 Total undiscounted operating lease liabilities $ 70,260 (b) 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. The tax authorities are currently assessing R $9.6 million , or approximately $2.5 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. (c) Asset Retirement Obligations. The changes in the aggregate carrying amount of our asset retirement obligations are as follows: Three Months Ended March 31, 2019 2018 (In thousands) Beginning balance $ 5,703 $ 5,712 Accretion expense 91 85 Obligations settled (206 ) (23 ) Foreign currency translation (82 ) 136 Ending balance $ 5,506 $ 5,910 Pursuant to the indemnity included in the February 2001 separation agreement from Shell Chemical, we recorded a receivable of $0.2 million as of March 31, 2018 . Except for the presentation on the Condensed Consolidated Balance Sheets for the impact of ASU 842, there have been no other material changes to our Commitments and Contingencies disclosed in our most recently filed Annual Report on Form 10-K.

Employee Benefits

Employee Benefits	3 Months Ended
	Mar. 31, 2019
Retirement Benefits [Abstract]
Employee Benefits	Employee Benefits The components of net periodic benefit costs related to pension benefits are as follows: Three Months Ended March 31, 2019 2018 U.S Plans Non-U.S. Plans U.S Plans Non-U.S. Plans (In thousands) Service cost $ 753 $ 389 $ 887 $ 651 Interest cost 1,938 533 1,795 541 Expected return on plan assets (2,517 ) (633 ) (2,452 ) (700 ) Amortization of prior service cost — 9 1,235 3 Amortization of net actuarial loss 845 106 — 168 Net periodic benefit cost $ 1,019 $ 404 $ 1,465 $ 663 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 $3.4 million and $4.6 million to our pension plans in the three months ended March 31, 2019 and 2018 , respectively. The components of net periodic benefit cost related to other post-retirement benefits are as follows: Three Months Ended March 31, 2019 2018 U.S Plans U.S Plans (In thousands) Service cost $ 90 $ 155 Interest cost 240 335 Amortization of prior service cost (437 ) 188 Amortization of net actuarial loss 175 — Net periodic benefit cost $ 68 $ 678 During the year ended December 31, 2018, we amended the post-retirement benefits plan for post- 65 retirees to provide an annual subsidy based on years of service. The annual subsidy replaces a company-sponsored medical plan. This plan modification resulted in a $13.1 million reduction in pension and other post-retirement liabilities during the year ended December 31, 2018. 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	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Industry Segment and Foreign Operations	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 our 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 for each segment. The following table summarizes our operating results by segment. We do not have sales between segments. Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Polymer Chemical Total Polymer Chemical Total (In thousands) Revenue $ 261,055 $ 195,356 $ 456,411 $ 289,071 $ 213,321 $ 502,392 Cost of goods sold 207,169 142,240 349,409 207,640 147,674 355,314 Gross profit 53,886 53,116 107,002 81,431 65,647 147,078 Operating expenses: Research and development 7,567 2,984 10,551 7,447 3,350 10,797 Selling, general, and administrative 23,098 17,796 40,894 23,520 15,203 38,723 Depreciation and amortization 13,971 17,551 31,522 17,762 17,614 35,376 Gain on insurance proceeds — (11,100 ) (11,100 ) — — — (Gain) loss on disposal of fixed assets — — — (98 ) 125 27 Operating income $ 9,250 $ 25,885 35,135 $ 32,800 $ 29,355 62,155 Other expense (259 ) (1,113 ) Gain (loss) on extinguishment of debt 210 (7,591 ) Earnings of unconsolidated joint venture 121 137 Interest expense, net (18,941 ) (29,276 ) Income before income taxes $ 16,266 $ 24,312 The following table presents long-lived assets including goodwill and total assets. March 31, 2019 December 31, 2018 Polymer Chemical Total Polymer Chemical Total (In thousands) Property, plant, and equipment, net $ 541,194 $ 396,107 $ 937,301 $ 543,086 $ 398,390 $ 941,476 Investment in unconsolidated joint venture $ 11,500 $ — $ 11,500 $ 12,070 $ — $ 12,070 Goodwill $ — $ 772,462 $ 772,462 $ — $ 772,886 $ 772,886 Total assets $ 1,155,949 $ 1,800,989 $ 2,956,938 $ 1,160,029 $ 1,734,675 $ 2,894,704 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 March 31, 2019 Three Months Ended March 31, 2018 Polymer Chemical Total Polymer Chemical Total (In thousands) (In thousands) Revenue: United States $ 87,968 $ 80,357 $ 168,325 $ 103,729 $ 81,324 $ 185,053 Germany 25,911 14,981 40,892 31,842 16,236 48,078 All other countries 147,176 100,018 247,194 153,500 115,761 269,261 $ 261,055 $ 195,356 $ 456,411 $ 289,071 $ 213,321 $ 502,392 Our capital expenditures for the Polymer segment, excluding capital expenditures by the KFPC joint venture, were $11.5 million and $9.7 million during the three months ended March 31, 2019 and 2018 , respectively, and capital expenditures for our Chemical segment were $10.9 million and $13.6 million during the three months ended March 31, 2019 and 2018 , respectively. Impact of Hurricane Michael In October 2018, our Panama City, Florida, facility was damaged by Hurricane Michael. During the three months ended March 31, 2019, we estimate the margin associated with lost sales due to Hurricane Michael to be $5.9 million , and we also incurred an incremental $5.9 million of direct costs as we continued to ramp production back to operating capacity. During the three months ended March 31, 2019, our insurance carrier notified us that they would provide an additional $10.0 million of advance reimbursement under our insurance policies (which we received in early April 2019). Based on this notification and subsequent receipt, we recorded a receivable for the $10.0 million as of March 31, 2019 and an associated gain on insurance. In addition, we recognized $1.1 million of proceeds received during the fourth quarter of 2018, but which was deferred at that time as unearned until realizable, as a gain on insurance during the first quarter of 2019. The $11.1 million gain on insurance fully offsets the lost margin in the first quarter of 2019, and reimburses us for a portion of the direct costs we have incurred to date. We currently estimate the replacement cost associated with damaged equipment to be in a range of $9.0 million to $11.0 million . We continue to work with our insurance carriers to resolve all claims under our business interruption and property coverage.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2019
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 $15.9 million and $20.1 million as of March 31, 2019 and December 31, 2018 , respectively, which were recorded in “Due to related party” liability on the Condensed Consolidated Balance Sheets. Our total purchases from the joint venture were $8.2 million and $9.1 million for the three months ended March 31, 2019 and 2018 , 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. Additionally, we purchase certain raw materials from FPCC for our other manufacturing locations. Our outstanding payables were $1.3 million and $0.8 million as of March 31, 2019 and December 31, 2018 , respectively, which were recorded in “Due to related party” liability on the Condensed Consolidated Balance Sheets. Our total purchases from this joint venture were $11.8 million and $5.9 million for the three months ended March 31, 2019 and 2018 , respectively. See Note 14 Variable Interest Entity, for further discussion related to the KFPC joint venture.

Variable Interest Entity

Variable Interest Entity	3 Months Ended
	Mar. 31, 2019
Noncontrolling Interest [Abstract]
Variable Interest Entity	Variable Interest Entity We hold a variable interest in a joint venture with FPCC to own and operate a 30 kiloton HSBC plant at FPCC’s petrochemical site in Mailiao, Taiwan. Included in the below lease assets and liabilities is a land lease with FPCC to support our operations at the HSBC plant. 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, following a ramp-up period, 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 March 31, 2019 and December 31, 2018 for KFPC before intercompany eliminations. March 31, 2019 December 31, 2018 (In thousands) Cash and cash equivalents $ 5,007 $ 6,640 Other current assets 19,896 18,363 Property, plant, and equipment, net 157,697 159,893 Intangible assets 8,397 8,590 Long-term operating lease assets, net 6,509 — Other long-term assets 10,096 11,838 Total assets $ 207,602 $ 205,324 Current portion of long-term debt $ 120,013 $ 45,152 Current liabilities 14,488 14,996 Long-term debt — 80,255 Long-term operating lease liabilities $ 6,509 $ — Total liabilities $ 141,010 $ 140,403

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2019
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, other than described above, that would require recognition or disclosure in our condensed consolidated financial statements for the period ended March 31, 2019 .

General (Policies)

General (Policies)	3 Months Ended
	Mar. 31, 2019
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, 2018 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.
Use of Estimates	Use of Estimates. The preparation of these Condensed Consolidated Financial Statements in conformity with U.S. generally accepted accounting principles (“GAAP”) 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 February 2016, the FASB established Topic 842, Leases , by issuing ASU 2016-02, which requires lessees to recognize leases on-balance sheet and disclose key information about leasing arrangements. Topic 842 was subsequently amended by ASU 2018-01, Land Easement Practical Expedient for Transition to Topic 842 ; ASU 2018-10, Codification Improvements to Topic 842, Leases ; and ASU 2018-11, Targeted Improvements . The new standard establishes a ROU model that requires a lessee to recognize a ROU asset and lease liability on the balance sheet for all leases with a term longer than twelve months. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the income statement. We adopted the new standard on January 1, 2019 and used the effective date as our date of initial application. The new standard provides a number of optional practical expedients in transition. We elected the following practical expedients: (1) ‘package of practical expedients’, which permits us not to reassess under the new standard our prior conclusions about lease identification, lease classification, and initial direct costs; (2) the short-term lease recognition exemption for all leases that qualify; and (3) the practical expedient to not separate lease and non-lease components for all of our leases. This standard had a material effect on our financial statements. The most significant effects relate to: (1) the recognition of new ROU assets and lease liabilities on our balance sheet for our equipment, building, and vehicle operating leases; (2) the derecognition of existing assets and liabilities for straight line lease accounting under ASC 840 Leases ; and (3) providing significant new disclosures about our leasing activities. On adoption, we recognized additional operating liabilities of $70.9 million , with corresponding ROU assets of the same amount based on the present value of the remaining minimum rental payments under current leasing standards for existing operating leases. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities . The objective of this ASU is to improve the financial reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its financial statements and make certain targeted improvements to simplify the application of the hedge accounting guidance in current GAAP. 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 analysis of ASU 2017-12 was completed during 2018 and there is no material change to our financial position, results of operations, and cash flows. We adopted ASU 2017-12 effective January 1, 2019. In October 2018, the FASB issued ASU 2018-16, Derivatives and Hedging (Topic 815)-Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes. 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 analysis of ASU 2018-16 was completed during 2018 and there is no material change to our financial position, results of operations, and cash flows. We adopted ASU 2018-16 effective 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 analysis of ASU 2018-02 was completed during 2018 and there is no material change to our financial position, results of operations, and cash flows. We adopted ASU 2018-02 effective January 1, 2019. New Accounting Standards to be Adopted in Future Periods 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, and we expect to adopt ASU 2017-04 effective on January 1, 2020. In November 2018, the FASB issued ASU 2018-18, Collaborative Arrangements (Topic 808): Clarifying the Interaction between Topic 808 and Topic 606. This standard is effective for fiscal years beginning after December 15, 2019, 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 2018-18 effective on January 1, 2020.
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 $13.3 million related to contractual commitments with customers for which 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 is 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 months ended March 31, 2019 , we recognized $5.8 million of revenue related to these arrangements.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 2018 (In thousands) Performance Products $ 138,092 $ 145,730 Specialty Polymers 82,010 104,018 Cariflex 40,867 39,525 Other 86 (202 ) Polymer Product Line Revenue $ 261,055 $ 289,071 Three Months Ended March 31, 2019 2018 (In thousands) Adhesives $ 65,576 $ 73,148 Performance Chemicals 116,753 122,941 Tires 13,027 17,232 Chemical Product Line Revenue $ 195,356 $ 213,321
Schedule of Contract with Customer, Asset and Liability	March 31, 2019 December 31, 2018 (In thousands) Contract receivables (1) $ 259,015 $ 197,739 Contract liabilities (2) $ 13,343 $ 13,906 ____________________________________________________ (1) Contract receivables are recorded within receivables, net of allowances on our Condensed Consolidated Balance Sheets. (2) Our contract liability decreased by $0.3 million , as a result of meeting the performance obligation, which was recognized in our Specialty Polymers product line revenue, and decreased approximately $0.2 million due to the change in currency exchange rates.

Detail of Certain Balance She_2

Detail of Certain Balance Sheet Accounts (Tables)	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Detail of certain balance sheet accounts	March 31, 2019 December 31, 2018 (In thousands) Inventories of products: Finished products $ 323,524 $ 315,361 Work in progress 5,870 5,781 Raw materials 91,123 97,550 Inventories of products, gross 420,517 418,692 Inventory reserves (6,817 ) (8,052 ) Total inventories of products, net $ 413,700 $ 410,640 Intangible assets: Contractual agreements $ 261,939 $ 262,624 Technology 145,435 145,698 Customer relationships 60,293 60,359 Tradenames/trademarks 80,994 80,557 Software 62,419 59,448 Intangible assets 611,080 608,686 Less accumulated amortization: Contractual agreements 71,235 65,958 Technology 63,509 62,019 Customer relationships 37,740 37,409 Tradenames/trademarks 44,117 42,797 Software 40,730 38,465 Total accumulated amortization 257,331 246,648 Intangible assets, net of accumulated amortization $ 353,749 $ 362,038 Other payables and accruals: Employee related $ 23,794 $ 35,015 Interest payable 13,839 2,201 Property, plant, and equipment accruals 9,758 10,982 Short-term operating lease liabilities 17,529 — Other 43,569 52,497 Total other payables and accruals $ 108,489 $ 100,695 Other long-term liabilities: Pension and other post-retirement benefits $ 121,348 $ 122,194 Other 59,170 60,699 Total other long-term liabilities $ 180,518 $ 182,893
Schedule of accumulated other comprehensive income (loss)	Changes in accumulated other comprehensive income (loss) by component were as follows: Cumulative Foreign Currency Translation Cash Flow Hedges, Net of Tax Net Investment Hedges, Net of Tax Benefit Plans Liability, Net of Tax Total (In thousands) December 31, 2017 $ (9,654 ) $ 4,550 $ (1,926 ) $ (91,265 ) $ (98,295 ) Other comprehensive income before reclassifications 3,619 2,893 — — 6,512 Amounts reclassified from accumulated other comprehensive loss — (1,999 ) — — (1,999 ) Net other comprehensive income for the year 3,619 894 — — 4,513 March 31, 2018 $ (6,035 ) $ 5,444 $ (1,926 ) $ (91,265 ) $ (93,782 ) December 31, 2018 $ (24,093 ) $ 3,922 $ 6,153 $ (77,681 ) $ (91,699 ) Other comprehensive income (loss) before reclassifications (4,496 ) (1,316 ) 4,594 — (1,218 ) Net other comprehensive income (loss) for the year (4,496 ) (1,316 ) 4,594 — (1,218 ) March 31, 2019 $ (28,589 ) $ 2,606 $ 10,747 $ (77,681 ) $ (92,917 )

Earnings Per Share ("EPS") (Tab

Earnings Per Share ("EPS") (Tables)	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 Three Months Ended March 31, 2018 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 $ 12,668 31,956 $ 22,072 31,771 Amounts allocated to unvested restricted shares (128 ) (323 ) (368 ) (530 ) Amounts available to common stockholders 12,540 31,633 $ 0.40 21,704 31,241 $ 0.69 Diluted: Amounts allocated to unvested restricted shares 128 323 368 530 Non participating share units — 205 — 280 Stock options added under the treasury stock method — 63 — 330 Amounts reallocated to unvested restricted shares (127 ) (323 ) (361 ) (530 ) Amounts available to stockholders and assumed conversions $ 12,541 31,901 $ 0.39 $ 21,711 31,851 $ 0.68

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Schedule of long-term debt	Long-term debt consists of the following: March 31, 2019 December 31, 2018 Principal Discount Debt Issuance Costs Total Principal Discount Debt Issuance Costs Total (In thousands) USD Tranche $ 362,000 $ (7,129 ) $ (9,814 ) $ 345,057 $ 362,000 $ (7,395 ) $ (10,171 ) $ 344,434 Euro Tranche 336,750 — (4,455 ) 332,295 342,900 — (4,711 ) 338,189 7.0% Senior Notes 394,750 — (6,428 ) 388,322 399,060 — (6,622 ) 392,438 5.25% Senior Notes 325,524 — (5,347 ) 320,177 331,470 — (5,503 ) 325,967 ABL Facility 24,500 — — 24,500 5,000 — — 5,000 KFPC Loan Agreement 96,093 — (71 ) 96,022 112,489 — (94 ) 112,395 KFPC Revolving Facilities 23,991 — — 23,991 13,012 — — 13,012 Capital lease obligation 1,143 — — 1,143 1,184 — — 1,184 Total debt 1,564,751 (7,129 ) (26,115 ) 1,531,507 1,567,115 (7,395 ) (27,101 ) 1,532,619 Less current portion of total debt 120,255 — — 120,255 45,321 — — 45,321 Long-term debt $ 1,444,496 $ (7,129 ) $ (26,115 ) $ 1,411,252 $ 1,521,794 $ (7,395 ) $ (27,101 ) $ 1,487,298
Remaining principal payments on outstanding total debt	The remaining principal payments on our outstanding total debt as of March 31, 2019 , are as follows: Principal Payments (In thousands) April 1, 2019 through March 31, 2020 $ 120,255 April 1, 2020 through March 31, 2021 24,682 April 1, 2021 through March 31, 2022 193 April 1, 2022 through March 31, 2023 205 April 1, 2023 through March 31, 2024 218 Thereafter 1,419,198 Total debt $ 1,564,751

Fair Value Measurements, Fina_2

Fair Value Measurements, Financial Instruments, and Credit Risk (Tables)	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 and December 31, 2018 . 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 March 31, 2019 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 $ 1,047 $ — $ 1,047 $ — Derivative asset – noncurrent Other long-term assets 2,442 — 2,442 — Retirement plan asset – noncurrent Other long-term asset 2,613 2,613 — — Derivative liability – current Other payables and accruals 203 — 203 — Total $ 6,305 $ 2,613 $ 3,692 $ — Fair Value Measurements at Reporting Date Using Balance Sheet Location December 31, 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 $ 1,558 $ — $ 1,558 $ — Derivative asset – noncurrent Other long-term assets 3,635 — 3,635 — Retirement plan asset – noncurrent Other long-term assets 2,485 2,485 — — Derivative liability – current Other payables and accruals 13 — 13 — Total $ 7,691 $ 2,485 $ 5,206 $ —
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. March 31, 2019 December 31, 2018 Carrying Value Fair Value Carrying Value Fair Value (In thousands) USD Tranche (significant other observable inputs – level 2) $ 362,000 $ 359,285 $ 362,000 $ 352,498 Euro Tranche (significant other observable inputs – level 2) $ 336,750 $ 336,541 $ 342,900 $ 338,830 7.0% Senior Notes (quoted prices in active market for identical assets – level 1) $ 394,750 $ 399,594 $ 399,060 $ 369,561 5.25% Senior Notes (quoted prices in active market for identical assets – level 1) $ 325,524 $ 331,553 $ 331,470 $ 299,125 ABL Facility (significant other observable inputs – level 2) $ 24,500 $ 24,500 $ 5,000 $ 5,000 Capital lease obligation (significant other observable inputs – level 2) $ 1,143 $ 1,143 $ 1,184 $ 1,184 KFPC Loan Agreement (significant unobservable inputs – level 3) $ 96,093 $ 96,093 $ 112,489 $ 112,489 KFPC Revolving Facilities (significant unobservable inputs – level 3) $ 23,991 $ 23,991 $ 13,012 $ 13,012

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 2018 Income taxes at the statutory rate (21.0 )% (21.0 )% State taxes, net of federal benefit (1.4 ) (1.5 ) Foreign tax rate differential (0.4 ) 11.7 Permanent differences 9.4 8.3 Uncertain tax positions (3.8 ) (2.2 ) Valuation allowance 0.8 0.8 Return to provision adjustments 0.1 (5.4 ) Other — — Effective tax rate (16.3 )% (9.3 )%

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Lease, Cost	The components of lease cost for operating leases are as follows: Three Months Ended March 31, 2019 (In thousands) Lease cost $ 4,576 Variable lease cost 191 Operating lease expense $ 4,767
Schedule Of Lease By Asset Type	The ROU assets for operating lease liabilities as of March 31, 2019 were comprised as follows: Leased Asset Class Polymer Chemical Percentage Average Months Remaining on the Lease Weighted Average in Months (in thousands) Railcars $ 697 $ 24,066 36.7 % 51 18.7 Buildings 13,439 9,820 34.5 % 34 11.7 Equipment 1,251 10,461 17.4 % 30 5.2 Land 6,509 42 9.7 % 475 46.1 Other 568 583 1.7 % 25 0.4 Total $ 22,464 $ 44,972 82.2
Lessee, Operating Lease, Liability, Maturity	The following tables show the undiscounted cash flows for the operating lease liabilities. March 31, 2019 (In thousands) April 1, 2019 through March 31, 2020 $ 20,059 April 1, 2020 through March 31, 2021 17,315 April 1, 2021 through March 31, 2022 11,688 April 1, 2022 through March 31, 2023 7,490 April 1, 2023 through March 31, 2024 4,779 Thereafter 12,991 Total undiscounted operating lease liabilities $ 74,322 Present value discount (6,407 ) Foreign currency and other (479 ) Total discounted operating lease liabilities $ 67,436
Schedule of Future Minimum Rental Payments for Operating Leases	December 31, 2018 (In thousands) 2019 $ 19,065 2020 16,891 2021 12,385 2022 8,284 2023 5,137 Thereafter 8,498 Total undiscounted operating lease liabilities $ 70,260
Changes in the aggregate carrying amount of ARO liability	The changes in the aggregate carrying amount of our asset retirement obligations are as follows: Three Months Ended March 31, 2019 2018 (In thousands) Beginning balance $ 5,703 $ 5,712 Accretion expense 91 85 Obligations settled (206 ) (23 ) Foreign currency translation (82 ) 136 Ending balance $ 5,506 $ 5,910

Employee Benefits (Tables)

Employee Benefits (Tables)	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 2018 U.S Plans Non-U.S. Plans U.S Plans Non-U.S. Plans (In thousands) Service cost $ 753 $ 389 $ 887 $ 651 Interest cost 1,938 533 1,795 541 Expected return on plan assets (2,517 ) (633 ) (2,452 ) (700 ) Amortization of prior service cost — 9 1,235 3 Amortization of net actuarial loss 845 106 — 168 Net periodic benefit cost $ 1,019 $ 404 $ 1,465 $ 663 The components of net periodic benefit cost related to other post-retirement benefits are as follows: Three Months Ended March 31, 2019 2018 U.S Plans U.S Plans (In thousands) Service cost $ 90 $ 155 Interest cost 240 335 Amortization of prior service cost (437 ) 188 Amortization of net actuarial loss 175 — Net periodic benefit cost $ 68 $ 678

Industry Segments and Foreign_2

Industry Segments and Foreign Operations (Tables)	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019 Three Months Ended March 31, 2018 Polymer Chemical Total Polymer Chemical Total (In thousands) Revenue $ 261,055 $ 195,356 $ 456,411 $ 289,071 $ 213,321 $ 502,392 Cost of goods sold 207,169 142,240 349,409 207,640 147,674 355,314 Gross profit 53,886 53,116 107,002 81,431 65,647 147,078 Operating expenses: Research and development 7,567 2,984 10,551 7,447 3,350 10,797 Selling, general, and administrative 23,098 17,796 40,894 23,520 15,203 38,723 Depreciation and amortization 13,971 17,551 31,522 17,762 17,614 35,376 Gain on insurance proceeds — (11,100 ) (11,100 ) — — — (Gain) loss on disposal of fixed assets — — — (98 ) 125 27 Operating income $ 9,250 $ 25,885 35,135 $ 32,800 $ 29,355 62,155 Other expense (259 ) (1,113 ) Gain (loss) on extinguishment of debt 210 (7,591 ) Earnings of unconsolidated joint venture 121 137 Interest expense, net (18,941 ) (29,276 ) Income before income taxes $ 16,266 $ 24,312
Schedule of assets by segment	The following table presents long-lived assets including goodwill and total assets. March 31, 2019 December 31, 2018 Polymer Chemical Total Polymer Chemical Total (In thousands) Property, plant, and equipment, net $ 541,194 $ 396,107 $ 937,301 $ 543,086 $ 398,390 $ 941,476 Investment in unconsolidated joint venture $ 11,500 $ — $ 11,500 $ 12,070 $ — $ 12,070 Goodwill $ — $ 772,462 $ 772,462 $ — $ 772,886 $ 772,886 Total assets $ 1,155,949 $ 1,800,989 $ 2,956,938 $ 1,160,029 $ 1,734,675 $ 2,894,704
Summary of revenue by geographic region	Following is a summary of revenue by geographic region: Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Polymer Chemical Total Polymer Chemical Total (In thousands) (In thousands) Revenue: United States $ 87,968 $ 80,357 $ 168,325 $ 103,729 $ 81,324 $ 185,053 Germany 25,911 14,981 40,892 31,842 16,236 48,078 All other countries 147,176 100,018 247,194 153,500 115,761 269,261 $ 261,055 $ 195,356 $ 456,411 $ 289,071 $ 213,321 $ 502,392

Variable Interest Entity (Table

Variable Interest Entity (Tables)	3 Months Ended
	Mar. 31, 2019
Noncontrolling Interest [Abstract]
Summary of carrying amounts of assets and liabilities	The following table summarizes the carrying amounts of assets and liabilities as of March 31, 2019 and December 31, 2018 for KFPC before intercompany eliminations. March 31, 2019 December 31, 2018 (In thousands) Cash and cash equivalents $ 5,007 $ 6,640 Other current assets 19,896 18,363 Property, plant, and equipment, net 157,697 159,893 Intangible assets 8,397 8,590 Long-term operating lease assets, net 6,509 — Other long-term assets 10,096 11,838 Total assets $ 207,602 $ 205,324 Current portion of long-term debt $ 120,013 $ 45,152 Current liabilities 14,488 14,996 Long-term debt — 80,255 Long-term operating lease liabilities $ 6,509 $ — Total liabilities $ 141,010 $ 140,403

General (Details)

General (Details)	Mar. 31, 2019
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 Thousands	Mar. 31, 2019	Jan. 01, 2019
Accounting Changes and Error Corrections [Abstract]
Operating lease, right-of-use asset	$ 64,309	$ 70,900
Total discounted operating lease liabilities	$ 67,436	$ 70,900

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Liability, revenue recognized	$ 5,800
Contract receivables	259,015		$ 197,739
Contract liabilities	13,343		$ 13,906
Polymer
Disaggregation of Revenue [Line Items]
Revenue	261,055	$ 289,071
Polymer | Performance Products
Disaggregation of Revenue [Line Items]
Revenue	138,092	145,730
Polymer | Specialty Polymers
Disaggregation of Revenue [Line Items]
Revenue	82,010	104,018
Liability, revenue recognized	300
Effect of exchange rate differences on cash	200
Polymer | Cariflex
Disaggregation of Revenue [Line Items]
Revenue	40,867	39,525
Polymer | Other
Disaggregation of Revenue [Line Items]
Revenue	86	(202)
Chemical
Disaggregation of Revenue [Line Items]
Revenue	195,356	213,321
Chemical | Adhesives
Disaggregation of Revenue [Line Items]
Revenue	65,576	73,148
Chemical | Performance Chemicals
Disaggregation of Revenue [Line Items]
Revenue	116,753	122,941
Chemical | Tires
Disaggregation of Revenue [Line Items]
Revenue	$ 13,027	$ 17,232

Revenue Recognition - Obligatio

Revenue Recognition - Obligation (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01	3 Months Ended
	Mar. 31, 2019
Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation	1 year
Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation	10 years

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based compensation expense	$ 3.3	$ 2.9

Detail of Certain Balance She_3

Detail of Certain Balance Sheet Accounts - Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Inventories of products:
Finished products	$ 323,524	$ 315,361
Work in progress	5,870	5,781
Raw materials	91,123	97,550
Inventories of products, gross	420,517	418,692
Inventory reserves	(6,817)	(8,052)
Total inventories of products, net	413,700	410,640
Other payables and accruals:
Employee related	23,794	35,015
Interest payable	13,839	2,201
Property, plant, and equipment accruals	9,758	10,982
Short-term operating lease liabilities	17,529	0
Other	43,569	52,497
Total other payables and accruals	108,489	100,695
Other long-term liabilities:
Pension and other post-retirement benefits	121,348	122,194
Other	59,170	60,699
Total other long-term liabilities	180,518	182,893
Supplemental Balance Sheet Information [Line Items]
Intangible assets	611,080	608,686
Less accumulated amortization	257,331	246,648
Intangible assets, net of accumulated amortization	353,749	362,038
Contractual agreements
Supplemental Balance Sheet Information [Line Items]
Intangible assets	261,939	262,624
Less accumulated amortization	71,235	65,958
Technology
Supplemental Balance Sheet Information [Line Items]
Intangible assets	145,435	145,698
Less accumulated amortization	63,509	62,019
Customer relationships
Supplemental Balance Sheet Information [Line Items]
Intangible assets	60,293	60,359
Less accumulated amortization	37,740	37,409
Tradenames/trademarks
Supplemental Balance Sheet Information [Line Items]
Intangible assets	80,994	80,557
Less accumulated amortization	44,117	42,797
Software
Supplemental Balance Sheet Information [Line Items]
Intangible assets	62,419	59,448
Less accumulated amortization	$ 40,730	$ 38,465

Detail of Certain Balance She_4

Detail of Certain Balance Sheet Accounts - Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 747,599	$ 666,519
Other comprehensive income (loss) before reclassifications	(1,218)	6,512
Amounts reclassified from accumulated other comprehensive loss		(1,999)
Other comprehensive income (loss), net of tax	(1,218)	4,513
Ending balance	762,054	692,148
Cumulative Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(24,093)	(9,654)
Other comprehensive income (loss) before reclassifications	(4,496)	3,619
Amounts reclassified from accumulated other comprehensive loss		0
Other comprehensive income (loss), net of tax	(4,496)	3,619
Ending balance	(28,589)	(6,035)
Cash Flow Hedges, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	3,922	4,550
Other comprehensive income (loss) before reclassifications	(1,316)	2,893
Amounts reclassified from accumulated other comprehensive loss		(1,999)
Other comprehensive income (loss), net of tax	(1,316)	894
Ending balance	2,606	5,444
Net Investment Hedges, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	6,153	(1,926)
Other comprehensive income (loss) before reclassifications	4,594	0
Amounts reclassified from accumulated other comprehensive loss		0
Other comprehensive income (loss), net of tax	4,594	0
Ending balance	10,747	(1,926)
Benefit Plans Liability, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(77,681)	(91,265)
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive loss		0
Other comprehensive income (loss), net of tax	0	0
Ending balance	(77,681)	(91,265)
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(91,699)	(98,295)
Ending balance	$ (92,917)	$ (93,782)

Earnings Per Share ("EPS") (Det

Earnings Per Share ("EPS") (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Feb. 28, 2019
Net Income (Loss) Attributable to Kraton, Basic:
As reported	$ 12,668	$ 22,072
Amounts allocated to unvested restricted shares	128	368
Amounts available to common stockholders	12,540	21,704
Net Income (Loss) Attributable to Kraton, Diluted:
Amounts allocated to unvested restricted shares	128	368
Amounts reallocated to unvested restricted shares	(127)	(361)
Amounts available to stockholders and assumed conversions	$ 12,541	$ 21,711
Weighted Average Shares Outstanding, Basic:
As reported (in shares)	31,956	31,771
Amounts allocated to unvested restricted shares (in shares)	(323)	(530)
Amounts available to common stockholders (in shares)	31,633	31,241
Weighted Average Shares Outstanding, Diluted:
Amounts allocated to unvested restricted shares (in shares)	(323)	(530)
Non participating share units (in shares)	205	280
Stock options added under the treasury stock method (in shares)	63	330
Amounts available to stockholders and assumed conversions (in shares)	31,901	31,851
Earnings (loss) per share, basic (in dollars per share)	$ 0.40	$ 0.69
Earnings (loss) per share, diluted (in dollars per share)	$ 0.39	$ 0.68
Stock repurchase program, authorized amount			$ 50,000

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) $ in Thousands, $ in Millions	Mar. 31, 2019USD ($)	Mar. 31, 2019TWD ($)	Dec. 31, 2018USD ($)	May 31, 2018	Mar. 31, 2017
Debt Instrument [Line Items]
Total debt	$ 1,564,751		$ 1,567,115
Discount	(7,129)		(7,395)
Debt Issuance Costs	(26,115)		(27,101)
Total	1,531,507		1,532,619
Capital lease obligation	1,143		1,184
Less current portion of total debt	120,255		45,321
Long-term debt, noncurrent maturities	1,444,496		1,521,794
Long-term debt	1,411,252		1,487,298
KFPC Loan Agreement
Debt Instrument [Line Items]
Total debt	96,093	$ 3,000	112,489
Discount	0		0
Debt Issuance Costs	(71)		(94)
Total	96,022		112,395
KFPC Revolving Facilities
Debt Instrument [Line Items]
Total debt	23,991	$ 740	13,012
Discount	0		0
Debt Issuance Costs	0		0
Total	23,991		13,012
5.25% Senior Notes
Debt Instrument [Line Items]
Debt instrument interest rate				5.25%
ABL Facility
Debt Instrument [Line Items]
Total debt	24,500		5,000
Discount	0		0
Debt Issuance Costs	0		0
Total	24,500		5,000
Term Loan | USD Tranche
Debt Instrument [Line Items]
Total debt	362,000		362,000
Discount	(7,129)		(7,395)
Debt Issuance Costs	(9,814)		(10,171)
Total	345,057		344,434
Term Loan | Euro Tranche
Debt Instrument [Line Items]
Total debt	336,750		342,900
Discount	0		0
Debt Issuance Costs	(4,455)		(4,711)
Total	332,295		338,189
Senior Notes | 7.0% Senior Notes
Debt Instrument [Line Items]
Total debt	394,750		399,060
Discount	0		0
Debt Issuance Costs	(6,428)		(6,622)
Total	388,322		392,438
Debt instrument interest rate					7.00%
Senior Notes | 5.25% Senior Notes
Debt Instrument [Line Items]
Total debt	325,524		331,470
Discount	0		0
Debt Issuance Costs	(5,347)		(5,503)
Total	$ 320,177		$ 325,967

Long-Term Debt - Senior Secured

Long-Term Debt - Senior Secured Term Loan Facility (Details) $ in Thousands, € in Millions	Mar. 08, 2018	Mar. 31, 2019USD ($)	Mar. 31, 2019EUR (€)	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Outstanding amount		$ 1,564,751		$ 1,567,115
Term Loan | USD Tranche
Debt Instrument [Line Items]
Outstanding amount		362,000		362,000
Term Loan | Euro Tranche
Debt Instrument [Line Items]
Outstanding amount		336,750		$ 342,900
Term Loan | Secured Debt | USD Tranche
Debt Instrument [Line Items]
Outstanding amount		362,000
Line of credit facility, fixed interest rate	4.28%
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		$ 336,800	€ 300
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)	3 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 06, 2018USD ($)	May 31, 2018EUR (€)	Mar. 31, 2017USD ($)
Debt Instrument [Line Items]
Loss on extinguishment of debt	$ 210,000	$ (7,591,000)
5.25% Senior Notes
Debt Instrument [Line Items]
Debt instrument interest rate					5.25%
Face amount	325,500,000
Senior Notes | 7.0% Senior Notes
Debt Instrument [Line Items]
Debt instrument interest rate						7.00%
Face amount						$ 400,000,000
Authorized amount to be repurchased				$ 20,000,000
Repurchase amount			$ 4,300,000
Loss on extinguishment of debt	(200,000)
Write off of previously capitalized deferred financing costs	$ 100,000
Europe
Debt Instrument [Line Items]
Face amount | €					€ 290,000,000

Long-Term Debt - ABL Facility (

Long-Term Debt - ABL Facility (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018	Jan. 31, 2016
Debt Instrument [Line Items]
Outstanding amount	$ 1,564,751,000	$ 1,567,115,000
ABL Facility
Debt Instrument [Line Items]
Outstanding amount	24,500,000	$ 5,000,000
ABL Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, borrowing capacity			$ 250,000,000
Right of maximum additional commitments			$ 100,000,000
Unused borrowing capacity	$ 24,500,000
Minimum percent required of federal outstanding commitments			60.00%

Long-Term Debt - KFPC Debt (Det

Long-Term Debt - KFPC Debt (Details) $ in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)facility	Mar. 31, 2019TWD ($)facility	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Outstanding amount | $	$ 1,564,751		$ 1,567,115
KFPC Loan Agreement
Debt Instrument [Line Items]
Outstanding amount	$ 96,093	$ 3,000	112,489
Interest rate during period	1.80%
KFPC Revolving Facilities
Debt Instrument [Line Items]
Outstanding amount	$ 23,991	$ 740	$ 13,012
KFPC Loan Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Number of debt instruments | facility	5	5
Credit facility, borrowing capacity	$ 69,700	$ 2,200

Long-Term Debt - Debt Issuance

Long-Term Debt - Debt Issuance Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Debt Instrument [Line Items]
Debt issuance costs	$ 28,200
Debt issuance costs	26,115		$ 27,101
Amortization of debt issuance costs	1,110	$ 1,945
ABL Facility
Debt Instrument [Line Items]
Debt issuance costs	2,000
Debt issuance costs	0		$ 0
ABL Facility | Other current assets
Debt Instrument [Line Items]
Debt issuance costs	$ 1,200

Long-Term Debt - Remaining Prin

Long-Term Debt - Remaining Principal Payments on Outstanding Total Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
April 1, 2019 through March 31, 2020	$ 120,255
April 1, 2020 through March 31, 2021	24,682
April 1, 2021 through March 31, 2022	193
April 1, 2022 through March 31, 2023	205
April 1, 2023 through March 31, 2024	218
Thereafter	1,419,198
Total debt	$ 1,564,751	$ 1,567,115

Fair Value Measurements, Fina_3

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	Mar. 31, 2019	Dec. 31, 2018
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total	$ 6,305	$ 7,691
Other current assets
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative asset – current	1,047	1,558
Other long-term assets
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative asset – noncurrent	2,442	3,635
Retirement plan asset – noncurrent	2,613	2,485
Other payables and accruals
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative liability – current	203	13
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total	2,613	2,485
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	2,613	2,485
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	0
Significant Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total	3,692	5,206
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	1,047	1,558
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	2,442	3,635
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	203	13
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	$ 0

Fair Value Measurements, Fina_4

Fair Value Measurements, Financial Instruments, and Credit Risk - Carrying Values and Approximate Fair Values of Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Carrying Value | Significant Other Observable Inputs (Level 2) | ABL Facility
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	$ 24,500	$ 5,000
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	362,000	362,000
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	336,750	342,900
Carrying Value | Significant Other Observable Inputs (Level 2) | Capital lease obligation
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	1,143	1,184
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	394,750	399,060
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	325,524	331,470
Carrying Value | Significant Unobservable Inputs (Level 3) | KFPC Loan Agreement
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	96,093	112,489
Carrying Value | Significant Unobservable Inputs (Level 3) | KFPC Revolving Facilities
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	23,991	13,012
Fair Value | Significant Other Observable Inputs (Level 2) | ABL Facility
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	24,500	5,000
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	359,285	352,498
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	336,541	338,830
Fair Value | Significant Other Observable Inputs (Level 2) | Capital lease obligation
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	1,143	1,184
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	399,594	369,561
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	331,553	299,125
Fair Value | Significant Unobservable Inputs (Level 3) | KFPC Loan Agreement
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	96,093	112,489
Fair Value | Significant Unobservable Inputs (Level 3) | KFPC Revolving Facilities
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	$ 23,991	$ 13,012

Fair Value Measurements, Fina_5

Fair Value Measurements, Financial Instruments, and Credit Risk - Additional Information (Details)	3 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)	Jun. 04, 2018USD ($)	May 31, 2018USD ($)	May 31, 2018EUR (€)	Jan. 03, 2017USD ($)
Derivative [Line Items]
Reclassification of loss on cash flow hedge	$ 0	$ (1,999,000)
Europe
Derivative [Line Items]
Face amount | €						€ 290,000,000
Mark to market gain recorded in accumulated other comprehensive loss	5,900,000
Interest Rate Swap
Derivative [Line Items]
Notional amount	300,000,000			$ 90,000,000			$ 925,400,000
Unrealized gain on derivatives	$ (1,700,000)	3,800,000
Reclassification of loss on cash flow hedge		(2,600,000)
Interest Rate Swap | LIBOR Rate Plus
Derivative [Line Items]
Derivative, variable interest rate	1.608%
Interest Rate Swap | Short
Derivative [Line Items]
Notional amount			$ 715,400,000		$ 90,000,000
Foreign Currency Hedges
Derivative [Line Items]
Aggregate loss on settlement of hedges	$ (2,200,000)	$ (100,000)

Income Taxes Income Taxes - Add

Income Taxes Income Taxes - Additional Information (Details) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Loss Carryforwards [Line Items]
Income tax expense	$ (2,654)	$ (2,251)
Effective tax rate	16.30%	9.30%
Benefit related to share-based compensation tax deductions		$ 3,100
Valuation allowance for deferred tax assets	$ 42,400			$ 42,500
Increase (decrease) in valuation allowance	(100)	(200)
Unrecognized tax benefits	30,100			29,600
Increase (decrease) in uncertain tax positions	$ 500	$ 800
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					$ 15,700
Change in tax rate, deferred tax asset, income tax expense (benefit)				95,000
Federal Tax Administration (FTA)
Operating Loss Carryforwards [Line Items]
Change in tax rate, deferred tax asset, income tax expense (benefit)				$ 68,900
Scenario, Forecast
Operating Loss Carryforwards [Line Items]
Release of valuation allowance			$ 22,300

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Effective Tax Rate, Percent (Details)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Income taxes at the statutory rate	(21.00%)	(21.00%)
State taxes, net of federal benefit	(1.40%)	(1.50%)
Foreign tax rate differential	(0.40%)	11.70%
Permanent differences	9.40%	8.30%
Uncertain tax positions	(3.80%)	(2.20%)
Valuation allowance	0.80%	0.80%
Return to provision adjustments	0.10%	(5.40%)
Other	(0.00%)	(0.00%)
Effective tax rate	(16.30%)	(9.30%)

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) R$ in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2019BRL (R$)	Mar. 31, 2018USD ($)
Loss Contingencies [Line Items]
Discount rate, percent	3.125%	3.125%
Tax credits generated from purchase of certain goods	$ 2.5	R$ 9.6
Shell Chemicals
Loss Contingencies [Line Items]
Receivables			$ 0.2
Minimum
Loss Contingencies [Line Items]
Term of contract	1 year

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies - Lease Cost (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
Lease cost	$ 4,576
Variable lease cost	191
Operating lease expense	$ 4,767

Commitments and Contingencies_2

Commitments and Contingencies - Leased Assets Class (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Jan. 01, 2019
Lessee, Lease, Description [Line Items]
Operating Lease Liability	$ 67,436	$ 70,900
Weighted Average in Months	82 months 6 days
Railcars
Lessee, Lease, Description [Line Items]
Average Months Remaining on the Lease	51 months
Weighted Average in Months	18 months 21 days
Buildings
Lessee, Lease, Description [Line Items]
Average Months Remaining on the Lease	34 months
Weighted Average in Months	11 months 21 days
Equipment
Lessee, Lease, Description [Line Items]
Average Months Remaining on the Lease	30 months
Weighted Average in Months	5 months 6 days
Land
Lessee, Lease, Description [Line Items]
Average Months Remaining on the Lease	475 months
Weighted Average in Months	46 months 3 days
Other
Lessee, Lease, Description [Line Items]
Average Months Remaining on the Lease	25 months
Weighted Average in Months	12 days
Operating Lease, Concentration Risk | Operating Lease Liability | Railcars
Lessee, Lease, Description [Line Items]
Percentage	36.70%
Operating Lease, Concentration Risk | Operating Lease Liability | Buildings
Lessee, Lease, Description [Line Items]
Percentage	34.50%
Operating Lease, Concentration Risk | Operating Lease Liability | Equipment
Lessee, Lease, Description [Line Items]
Percentage	17.40%
Operating Lease, Concentration Risk | Operating Lease Liability | Land
Lessee, Lease, Description [Line Items]
Percentage	9.70%
Operating Lease, Concentration Risk | Operating Lease Liability | Other
Lessee, Lease, Description [Line Items]
Percentage	1.70%
Polymer
Lessee, Lease, Description [Line Items]
Operating Lease Liability	$ 22,464
Polymer | Railcars
Lessee, Lease, Description [Line Items]
Operating Lease Liability	697
Polymer | Buildings
Lessee, Lease, Description [Line Items]
Operating Lease Liability	13,439
Polymer | Equipment
Lessee, Lease, Description [Line Items]
Operating Lease Liability	1,251
Polymer | Land
Lessee, Lease, Description [Line Items]
Operating Lease Liability	6,509
Polymer | Other
Lessee, Lease, Description [Line Items]
Operating Lease Liability	568
Chemical
Lessee, Lease, Description [Line Items]
Operating Lease Liability	44,972
Chemical | Railcars
Lessee, Lease, Description [Line Items]
Operating Lease Liability	24,066
Chemical | Buildings
Lessee, Lease, Description [Line Items]
Operating Lease Liability	9,820
Chemical | Equipment
Lessee, Lease, Description [Line Items]
Operating Lease Liability	10,461
Chemical | Land
Lessee, Lease, Description [Line Items]
Operating Lease Liability	42
Chemical | Other
Lessee, Lease, Description [Line Items]
Operating Lease Liability	$ 583

Commitments and Contingencies_3

Commitments and Contingencies - Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019
Commitments and Contingencies Disclosure [Abstract]
April 1, 2019 through March 31, 2020	$ 20,059
April 1, 2020 through March 31, 2021	17,315
April 1, 2021 through March 31, 2022	11,688
April 1, 2022 through March 31, 2023	7,490
April 1, 2023 through March 31, 2024	4,779
Thereafter	12,991
Total undiscounted operating lease liabilities	74,322
Present value discount	(6,407)
Foreign currency and other	(479)
Total discounted operating lease liabilities	$ 67,436	$ 70,900

Commitments and Contingencies_4

Commitments and Contingencies - Undiscounted operating Lease Liabilities (Details) $ in Thousands	Dec. 31, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
2019	$ 19,065
2020	16,891
2021	12,385
2022	8,284
2023	5,137
Thereafter	8,498
Total undiscounted operating lease liabilities	$ 70,260

Commitments and Contingencies_5

Commitments and Contingencies - Changes in Aggregate Carrying Amount of Asset Retirement Obligation Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning balance	$ 5,703	$ 5,712
Accretion expense	91	85
Obligations settled	(206)	(23)
Foreign currency translation	(82)	136
Ending balance	$ 5,506	$ 5,910

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
	Mar. 31, 2019	Mar. 31, 2018
U.S Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 753	$ 887
Interest cost	1,938	1,795
Expected return on plan assets	(2,517)	(2,452)
Amortization of prior service cost	0	1,235
Amortization of net actuarial loss	845	0
Net periodic benefit cost	1,019	1,465
Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	389	651
Interest cost	533	541
Expected return on plan assets	(633)	(700)
Amortization of prior service cost	9	3
Amortization of net actuarial loss	106	168
Net periodic benefit cost	$ 404	$ 663

Employee Benefits - Additional

Employee Benefits - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Retirement Benefits [Abstract]
Employer contributions	$ 3.4	$ 4.6
Employees retirement age	65 years
Reduction in pension and other post-retirement liabilities			$ 13.1

Employee Benefits - Component_2

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
	Mar. 31, 2019	Mar. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 90	$ 155
Interest cost	240	335
Amortization of prior service cost	(437)	188
Amortization of net actuarial loss	175	0
Net periodic benefit cost	$ 68	$ 678

Industry Segments and Foreign_3

Industry Segments and Foreign Operations - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)segment	Dec. 31, 2018USD ($)	Mar. 31, 2018USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment	2
Capital expenditures	$ 22,327		$ 23,373
Gain on insurance proceeds	11,100		0
Hurricane
Segment Reporting Information [Line Items]
Estimated associated margin with lost sales	5,900
Production downtime, costs incurred	5,900
Proceeds from insurance reimbursement	10,000
Insurance receivable	10,000
Proceeds from insurance		$ 1,100
Gain on insurance proceeds	11,100
Hurricane | Minimum
Segment Reporting Information [Line Items]
Replacement cost associated with damaged equipment	9,000
Hurricane | Maximum
Segment Reporting Information [Line Items]
Replacement cost associated with damaged equipment	11,000
Polymer
Segment Reporting Information [Line Items]
Capital expenditures	11,500		9,700
Gain on insurance proceeds	0		0
Chemical
Segment Reporting Information [Line Items]
Capital expenditures	10,900		13,600
Gain on insurance proceeds	$ 11,100		$ 0

Industry Segments and Foreign_4

Industry Segments and Foreign Operations - Sales Revenue by Product Groups (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Revenue	$ 456,411	$ 502,392
Cost of goods sold	349,409	355,314
Gross profit	107,002	147,078
Operating expenses:
Research and development	10,551	10,797
Selling, general, and administrative	40,894	38,723
Depreciation and amortization	31,522	35,376
Gain on insurance proceeds	(11,100)	0
(Gain) loss on disposal of fixed assets	0	27
Operating income	35,135	62,155
Other expense	(259)	(1,113)
Gain (loss) on extinguishment of debt	210	(7,591)
Earnings of unconsolidated joint venture	121	137
Interest expense, net	(18,941)	(29,276)
Income before income taxes	16,266	24,312
Polymer
Segment Reporting Information [Line Items]
Revenue	261,055	289,071
Cost of goods sold	207,169	207,640
Gross profit	53,886	81,431
Operating expenses:
Research and development	7,567	7,447
Selling, general, and administrative	23,098	23,520
Depreciation and amortization	13,971	17,762
Gain on insurance proceeds	0	0
(Gain) loss on disposal of fixed assets	0	(98)
Operating income	9,250	32,800
Chemical
Segment Reporting Information [Line Items]
Revenue	195,356	213,321
Cost of goods sold	142,240	147,674
Gross profit	53,116	65,647
Operating expenses:
Research and development	2,984	3,350
Selling, general, and administrative	17,796	15,203
Depreciation and amortization	17,551	17,614
Gain on insurance proceeds	(11,100)	0
(Gain) loss on disposal of fixed assets	0	125
Operating income	$ 25,885	$ 29,355

Industry Segments and Foreign_5

Industry Segments and Foreign Operations - Long-lived Assets Including Goodwill and Total Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Property, plant, and equipment, net	$ 937,301	$ 941,476
Investment in unconsolidated joint venture	11,500	12,070
Goodwill	772,462	772,886
Total assets	2,956,938	2,894,704
Polymer
Segment Reporting Information [Line Items]
Property, plant, and equipment, net	541,194	543,086
Investment in unconsolidated joint venture	11,500	12,070
Goodwill	0	0
Total assets	1,155,949	1,160,029
Chemical
Segment Reporting Information [Line Items]
Property, plant, and equipment, net	396,107	398,390
Investment in unconsolidated joint venture	0	0
Goodwill	772,462	772,886
Total assets	$ 1,800,989	$ 1,734,675

Industry Segments and Foreign_6

Industry Segments and Foreign Operations - Sales Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	$ 456,411	$ 502,392
United States
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	168,325	185,053
Germany
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	40,892	48,078
All other countries
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	247,194	269,261
Polymer
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	261,055	289,071
Polymer | United States
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	87,968	103,729
Polymer | Germany
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	25,911	31,842
Polymer | All other countries
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	147,176	153,500
Chemical
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	195,356	213,321
Chemical | United States
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	80,357	81,324
Chemical | Germany
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	14,981	16,236
Chemical | All other countries
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	$ 100,018	$ 115,761

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Variable Interest Entity, Primary Beneficiary | KFPC
Related Party Transaction [Line Items]
Outstanding payables	$ 1.3		$ 0.8
Variable interest entity, ownership percentage	50.00%
Purchases from related party	$ 11.8	$ 5.9
Styrenic Block Copolymer Joint Venture
Related Party Transaction [Line Items]
Percentage of equity investment	50.00%
Outstanding payables	$ 15.9		$ 20.1
Related party liability	$ 8.2	$ 9.1

Variable Interest Entity - Addi

Variable Interest Entity - Additional Information (Details)	3 Months Ended
	Mar. 31, 2019kt
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	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Noncontrolling Interest [Line Items]
Cash and cash equivalents	$ 37,161		$ 85,891
Other current assets	27,691		29,980
Property, plant, and equipment, net	937,301		941,476
Intangible assets	353,749		362,038
Long-term operating lease assets, net	64,309	$ 70,900
Other long-term assets	27,944		29,074
Total assets	2,956,938		2,894,704
Current portion of long-term debt	120,255		45,321
Current liabilities	426,356		349,087
Long-term debt	1,411,252		1,487,298
Long-term operating lease liabilities	49,907
Total liabilities	2,194,884		2,147,105
KFPC
Noncontrolling Interest [Line Items]
Cash and cash equivalents	5,007		6,640
Other current assets	19,896		18,363
Property, plant, and equipment, net	157,697		159,893
Intangible assets	8,397		8,590
Long-term operating lease assets, net	6,509
Other long-term assets	10,096		11,838
Total assets	207,602		205,324
Current portion of long-term debt	120,013		45,152
Current liabilities	14,488		14,996
Long-term debt	0		80,255
Long-term operating lease liabilities	6,509
Total liabilities	$ 141,010		$ 140,403