Kraton (KRA) 10-Q 25 Jul 19 2019 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2019	Jul. 23, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	001-34581
Entity Registrant Name	Kraton Corp
Entity Central Index Key	0001321646
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-0411521
Entity Address, Address Line One	15710 John F. Kennedy Blvd.
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Houston,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77032
City Area Code	281
Local Phone Number	504-4700
Title of 12(b) Security	Common Stock, par value $0.01
Trading Symbol	KRA
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		31,706,512

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 63,854	$ 85,891
Receivables, net of allowances of $976 and $784	262,204	198,046
Inventories of products, net	431,380	410,640
Inventories of materials and supplies, net	31,691	30,843
Prepaid expenses	13,001	10,156
Other current assets	19,262	29,980
Total current assets	821,392	765,556
Property, plant, and equipment, less accumulated depreciation of $634,052 and $597,785	944,740	941,476
Goodwill	772,939	772,886
Intangible assets, less accumulated amortization of $268,874 and $246,648	345,486	362,038
Investment in unconsolidated joint venture	11,852	12,070
Debt issuance costs	585	1,170
Deferred income taxes	8,198	10,434
Long-term operating lease assets, net	72,520
Other long-term assets	30,993	29,074
Total assets	3,008,705	2,894,704
Current liabilities:
Current portion of long-term debt	110,105	45,321
Accounts payable-trade	195,001	182,153
Other payables and accruals	112,080	100,695
Due to related party	17,282	20,918
Total current liabilities	434,468	349,087
Long-term debt, net of current portion	1,424,323	1,487,298
Deferred income taxes	127,604	127,827
Long-term operating lease liabilities	55,888
Other long-term liabilities	166,992	182,893
Total liabilities	2,209,275	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; 31,868 shares issued and outstanding at June 30, 2019; 31,917 shares issued and outstanding at December 31, 2018	319	319
Additional paid in capital	389,680	385,921
Retained earnings	470,127	420,597
Accumulated other comprehensive loss	(95,959)	(91,699)
Total Kraton stockholders' equity	764,167	715,138
Noncontrolling interest	35,263	32,461
Total equity	799,430	747,599
Total liabilities and equity	$ 3,008,705	$ 2,894,704

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Receivables, allowances	$ 976	$ 784
Accumulated depreciation	634,052	597,785
Total accumulated amortization	$ 268,874	$ 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)	31,868,000	31,917,000
Common stock, shares outstanding (in shares)	31,868,000	31,917,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Revenue	$ 495,280	$ 538,395	$ 951,691	$ 1,040,787
Cost of goods sold	366,078	367,686	715,487	723,000
Gross profit	129,202	170,709	236,204	317,787
Operating expenses:
Research and development	10,173	10,474	20,724	21,271
Selling, general, and administrative	38,457	41,975	79,351	80,698
Depreciation and amortization	31,904	35,140	63,426	70,516
Gain on insurance proceeds	(7,500)	0	(18,600)	0
Loss on disposal of fixed assets	0	333	0	360
Operating income	56,168	82,787	91,303	144,942
Other expense	(417)	(1,107)	(676)	(2,220)
Gain (loss) on extinguishment of debt	0	(72,330)	210	(79,921)
Earnings of unconsolidated joint venture	140	120	261	257
Interest expense, net	(19,339)	(25,416)	(38,280)	(54,692)
Income (loss) before income taxes	36,552	(15,946)	52,818	8,366
Income tax benefit (expense)	6,846	1,842	4,192	(409)
Consolidated net income (loss)	43,398	(14,104)	57,010	7,957
Net income attributable to noncontrolling interest	(2,190)	(826)	(3,134)	(815)
Net income (loss) attributable to Kraton	$ 41,208	$ (14,930)	$ 53,876	$ 7,142
Earnings (loss) per common share:
Basic (in dollars per share)	$ 1.29	$ (0.47)	$ 1.69	$ 0.22
Diluted (in dollars per share)	$ 1.28	$ (0.47)	$ 1.67	$ 0.22
Weighted average common shares outstanding:
Basic (in shares)	31,692	31,441	31,663	31,342
Diluted (in share)	32,017	31,441	31,959	31,797

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income (loss) attributable to Kraton	$ 41,208	$ (14,930)	$ 53,876	$ 7,142
Other comprehensive loss:
Foreign currency translation adjustments, net of tax of $0	2,597	(14,575)	(1,899)	(10,956)
Unrealized gain (loss) on cash flow hedges, net of tax benefit of $598, expense of $210, benefit of $985, and expense of $1,077, respectively	(2,031)	674	(3,347)	3,567
Reclassification of gain on cash flow hedge, net of tax expense of $588	0	0	0	(1,999)
Unrealized gain (loss) on net investment hedge, net of tax benefit of $1,062, expense of $825, $290, and $825, respectively	(3,608)	2,641	986	2,641
Other comprehensive loss, net of tax	(3,042)	(11,260)	(4,260)	(6,747)
Comprehensive income (loss) attributable to Kraton	38,166	(26,190)	49,616	395
Comprehensive income (loss) attributable to noncontrolling interest	1,967	(597)	2,802	(75)
Consolidated comprehensive income (loss)	$ 40,133	$ (26,787)	$ 52,418	$ 320

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax effect	$ 0	$ 0	$ 0	$ 0
Unrealized gain (loss) on cash flow hedges, tax effect	(598)	210	(985)	1,077
Reclassification of (gain) loss on cash flow hedge, tax effect	0	0	0	588
Unrealized gain on net investment hedge, tax effect	$ 1,062	$ 825	$ 290	$ 825

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, 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)	7,957
Ending balance at Jun. 30, 2018	667,587	319	381,569	360,778	(105,042)	637,624	29,963
Beginning balance at Mar. 31, 2018	692,148	319	379,203	375,848	(93,782)	661,588	30,560
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Consolidated net income (loss)	(14,104)			(14,930)		(14,930)	826
Other comprehensive loss	(12,683)				(11,260)	(11,260)	(1,423)
Retired treasury stock from employee tax withholdings	(261)	2	(123)	(140)		(261)
Exercise of stock options	264		264			264
Non-cash compensation related to equity awards	2,223	(2)	2,225			2,223
Ending balance at Jun. 30, 2018	667,587	319	381,569	360,778	(105,042)	637,624	29,963
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
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)	57,010
Ending balance at Jun. 30, 2019	799,430	319	389,680	470,127	(95,959)	764,167	35,263
Beginning balance at Mar. 31, 2019	762,054	320	389,500	431,855	(92,917)	728,758	33,296
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Consolidated net income (loss)	43,398			41,208		41,208	2,190
Other comprehensive loss	(3,265)				(3,042)	(3,042)	(223)
Retired treasury stock from employee tax withholdings	(41)		(40)	(1)		(41)
Cancelled stock from share repurchases	(5,000)	(1)	(2,064)	(2,935)		(5,000)
Exercise of stock options	94		94			94
Non-cash compensation related to equity awards	2,190		2,190			2,190
Ending balance at Jun. 30, 2019	$ 799,430	$ 319	$ 389,680	$ 470,127	$ (95,959)	$ 764,167	$ 35,263

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Consolidated net income	$ 57,010	$ 7,957
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation and amortization	63,426	70,516
Lease amortization	11,315	0
Amortization of debt original issue discount	536	1,675
Amortization of debt issuance costs	2,310	3,325
Loss on disposal of property, plant, and equipment	0	360
(Gain) loss on extinguishment of debt	(210)	79,921
Earnings from unconsolidated joint venture, net of dividends received	183	288
Deferred income tax provision (benefit)	2,948	(2,656)
Release of uncertain tax positions	(13,457)	0
Share-based compensation	5,499	5,125
Decrease (increase) in:
Accounts receivable	(64,657)	(80,178)
Inventories of products, materials, and supplies	(22,048)	(35,134)
Other assets	3,794	5,608
Increase (decrease) in:
Accounts payable-trade	13,491	20,175
Other payables and accruals	(13,470)	(25,547)
Other long-term liabilities	(6,744)	(529)
Due to related party	(3,968)	(2,812)
Net cash provided by operating activities	35,958	48,094
CASH FLOWS FROM INVESTING ACTIVITIES
Kraton purchase of property, plant, and equipment	(49,985)	(42,223)
KFPC purchase of property, plant, and equipment	(425)	(653)
Purchase of software and other intangibles	(4,821)	(3,228)
Net cash used in investing activities	(55,231)	(46,104)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from debt	40,250	713,540
Repayments of debt	(22,560)	(718,370)
KFPC proceeds from debt	14,600	10,197
KFPC repayments of debt	(26,400)	(28,661)
Capital lease payments	(83)	(520)
Purchase of treasury stock	(7,725)	(6,009)
Proceeds from the exercise of stock options	1,639	1,632
Settlement of interest rate swap	0	2,587
Debt issuance costs	0	(10,345)
Net cash used in financing activities	(279)	(35,949)
Effect of exchange rate differences on cash	(2,485)	211
Net decrease in cash and cash equivalents	(22,037)	(33,748)
Cash and cash equivalents, beginning of period	85,891	89,052
Cash and cash equivalents, end of period	63,854	55,304
Supplemental disclosures during the period:
Cash paid for income taxes, net of refunds received	9,774	1,470
Cash paid for interest, net of capitalized interest	21,353	57,063
Capitalized interest	2,040	1,577
Supplemental non-cash disclosures: increase (decrease) during the period
Property, plant, and equipment accruals	(923)	(5,919)
Operating leases	$ 86,739	$ 0

General

General	6 Months Ended
	Jun. 30, 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 , adopted 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	6 Months Ended
	Jun. 30, 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 right-of-use model (“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	6 Months Ended
	Jun. 30, 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 $13.2 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 and six months ended June 30, 2019 , we recognized $0.3 million and $6.0 million of revenue related to these arrangements, respectively. During the three and six months ended June 30, 2018 , we recognized $0.7 million and $4.5 million of revenue related to these arrangements, respectively. We disaggregate our revenue by segment product lines, which is how we market our products and review results of operations. The following tables disaggregate our segment revenue by major product lines: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Polymer Segment (In thousands) Performance Products $ 143,181 $ 180,738 $ 281,273 $ 326,468 Specialty Polymers 103,487 108,289 185,497 212,307 Cariflex 51,009 48,976 91,876 88,501 Other 184 147 270 (55 ) Polymer Product Line Revenue $ 297,861 $ 338,150 $ 558,916 $ 627,221 Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Chemical Segment (In thousands) Adhesives $ 68,818 $ 73,978 $ 134,394 $ 147,126 Performance Chemicals 115,646 114,813 232,399 237,754 Tires 12,955 11,454 25,982 28,686 Chemical Product Line Revenue $ 197,419 $ 200,245 $ 392,775 $ 413,566 June 30, 2019 December 31, 2018 (In thousands) Contract receivables (1) $ 263,036 $ 197,739 Contract liabilities (2) $ 13,234 $ 13,906 ____________________________________________________ (1) Contract receivables are recorded within receivables, net of allowances on our Condensed Consolidated Balance Sheets. (2) Our contract liability decreased by $0.6 million , as a result of meeting the performance obligation, which was recognized in our Specialty Polymers product line revenue, and decreased approximately $0.1 million due to the change in currency exchange rates.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2019
Share-based Payment Arrangement [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, generally three years . Share-based compensation expense was $2.2 million for both the three months ended June 30, 2019 and 2018 , respectively, and $5.5 million and $5.1 million for the six months ended June 30, 2019 and 2018 , respectively.

Detail of Certain Balance Sheet

Detail of Certain Balance Sheet Accounts	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Detail of Certain Balance Sheet Accounts	Detail of Certain Balance Sheet Accounts June 30, 2019 December 31, 2018 (In thousands) Inventories of products: Finished products $ 330,034 $ 315,361 Work in progress 6,080 5,781 Raw materials 102,792 97,550 Inventories of products, gross 438,906 418,692 Inventory reserves (7,526 ) (8,052 ) Total inventories of products, net $ 431,380 $ 410,640 Intangible assets: Contractual agreements $ 262,477 $ 262,624 Technology 145,880 145,698 Customer relationships 60,344 60,359 Tradenames/trademarks 80,744 80,557 Software 64,915 59,448 Intangible assets 614,360 608,686 Less accumulated amortization: Contractual agreements 76,841 65,958 Technology 65,074 62,019 Customer relationships 38,087 37,409 Tradenames/trademarks 45,495 42,797 Software 43,377 38,465 Total accumulated amortization 268,874 246,648 Intangible assets, net of accumulated amortization $ 345,486 $ 362,038 Other payables and accruals: Employee related $ 27,976 $ 35,015 Interest payable 16,447 2,201 Property, plant, and equipment accruals 10,358 10,982 Short-term operating lease liabilities 19,570 — Other 37,729 52,497 Total other payables and accruals $ 112,080 $ 100,695 Other long-term liabilities: Pension and other post-retirement benefits $ 119,524 $ 122,194 Other 47,468 60,699 Total other long-term liabilities $ 166,992 $ 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 (loss) before reclassifications (10,956 ) 3,567 2,641 — (4,748 ) Amounts reclassified from accumulated other comprehensive loss — (1,999 ) — — (1,999 ) Net other comprehensive income (loss) for the year (10,956 ) 1,568 2,641 — (6,747 ) June 30, 2018 $ (20,610 ) $ 6,118 $ 715 $ (91,265 ) $ (105,042 ) December 31, 2018 $ (24,093 ) $ 3,922 $ 6,153 $ (77,681 ) $ (91,699 ) Other comprehensive income (loss) before reclassifications (1,899 ) (3,347 ) 986 — (4,260 ) Net other comprehensive income (loss) for the year (1,899 ) (3,347 ) 986 — (4,260 ) June 30, 2019 $ (25,992 ) $ 575 $ 7,139 $ (77,681 ) $ (95,959 )

Earnings Per Share ("EPS")

Earnings Per Share ("EPS")	6 Months Ended
	Jun. 30, 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 excluding non-vested restricted stock awards during the period. Diluted EPS is computed by dividing net income attributable to Kraton by the diluted weighted-average number of shares outstanding during the period and, accordingly, reflects the potential dilution that could occur if securities or other agreements to issue common stock, such as stock options, were exercised, settled, or converted into common stock and were dilutive. The diluted weighted-average number of shares used in our diluted EPS calculation is determined using the treasury stock method. The calculations of basic and diluted EPS are as follows: Three Months Ended June 30, 2019 Three Months Ended June 30, 2018 Net Income Attributable to Kraton Weighted Average Shares Outstanding Earnings Per Share Net Loss Attributable to Kraton Weighted Average Shares Outstanding Loss Per Share (In thousands, except per share data) Basic: As reported $ 41,208 31,920 $ (14,930 ) 31,890 Amounts allocated to unvested restricted shares (294 ) (228 ) 210 (449 ) Amounts available to common stockholders 40,914 31,692 $ 1.29 (14,720 ) 31,441 $ (0.47 ) Diluted: Amounts allocated to unvested restricted shares 294 228 (210 ) 449 Non participating share units — 266 — — Stock options added under the treasury stock method — 59 — — Amounts reallocated to unvested restricted shares (291 ) (228 ) 210 (449 ) Amounts available to stockholders and assumed conversions $ 40,917 32,017 $ 1.28 $ (14,720 ) 31,441 $ (0.47 ) Six Months Ended June 30, 2019 Six Months Ended June 30, 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 $ 53,876 31,938 $ 7,142 31,831 Amounts allocated to unvested restricted shares (464 ) (275 ) (110 ) (489 ) Amounts available to common stockholders 53,412 31,663 $ 1.69 7,032 31,342 $ 0.22 Diluted: Amounts allocated to unvested restricted shares 464 275 110 489 Non participating share units — 235 — 201 Stock options added under the treasury stock method — 61 — 254 Amounts reallocated to unvested restricted shares (460 ) (275 ) (108 ) (489 ) Amounts available to stockholders and assumed conversions $ 53,416 31,959 $ 1.67 $ 7,034 31,797 $ 0.22 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 six months ended June 30, 2019 , we repurchased 152,986 shares of our common stock at an average price of $32.68 per share and a total cost of $5.0 million . We are not obligated to acquire any specific number of shares of our common stock.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consists of the following: June 30, 2019 December 31, 2018 Principal Discount Debt Issuance Costs Total Principal Discount Debt Issuance Costs Total (In thousands) USD Tranche $ 362,000 $ (6,859 ) $ (9,453 ) $ 345,688 $ 362,000 $ (7,395 ) $ (10,171 ) $ 344,434 Euro Tranche 341,580 — (4,344 ) 337,236 342,900 — (4,711 ) 338,189 7.0% Senior Notes 394,750 — (6,234 ) 388,516 399,060 — (6,622 ) 392,438 5.25% Senior Notes 330,194 — (5,191 ) 325,003 331,470 — (5,503 ) 325,967 ABL Facility 27,000 — — 27,000 5,000 — — 5,000 KFPC Loan Agreement 95,441 — (47 ) 95,394 112,489 — (94 ) 112,395 KFPC Revolving Facilities 14,490 — — 14,490 13,012 — — 13,012 Capital lease obligation 1,101 — — 1,101 1,184 — — 1,184 Total debt 1,566,556 (6,859 ) (25,269 ) 1,534,428 1,567,115 (7,395 ) (27,101 ) 1,532,619 Less current portion of total debt 110,105 — — 110,105 45,321 — — 45,321 Long-term debt $ 1,456,451 $ (6,859 ) $ (25,269 ) $ 1,424,323 $ 1,521,794 $ (7,395 ) $ (27,101 ) $ 1,487,298 Senior Secured Term Loan Facility. As of June 30, 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 $341.6 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 4.29% 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 six months ended June 30, 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 six months ended June 30, 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 $330.2 million as of June 30, 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 pay interest on the senior notes at 5.25% per annum, semi-annually in arrears on May 15 and November 15 of each year. 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 $27.0 million as of June 30, 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 June 30, 2019 , NTD 3.0 billion (or approximately $95.4 million ) was drawn on KFPC's syndicated loan agreement (the “KFPC Loan Agreement”). For the three and six months ended June 30, 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. We anticipate approvals by the lender syndicate by end of the third quarter 2019. 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 $69.2 million ). All of the KFPC Revolving Facilities are subject to variable interest rates. As of June 30, 2019 , NTD 450.0 million (or approximately $14.5 million ) was drawn on the KFPC Revolving Facilities. Debt Issuance Costs. We had net debt issuance cost of $27.0 million as of June 30, 2019 , of which $1.8 million related to the ABL Facility which is recorded as an asset (of which $1.2 million was included in other current assets) and $25.3 million is recorded as a reduction to long-term debt. We amortized $1.2 million and $1.4 million for the three months ended June 30, 2019 , and 2018 , respectively, and $2.3 million and $3.3 million during the six months ended June 30, 2019 and 2018 , respectively. Debt Maturities . The remaining principal payments on our outstanding total debt as of June 30, 2019 , are as follows: Principal Payments (In thousands) July 1, 2019 through June 30, 2020 $ 110,105 July 1, 2020 through June 30, 2021 27,185 July 1, 2021 through June 30, 2022 196 July 1, 2022 through June 30, 2023 208 July 1, 2023 through June 30, 2024 221 Thereafter 1,428,641 Total debt $ 1,566,556 See Note 8 Fair Value Measurements, Financial Instruments, and Credit Risk for fair value information related to our long-term debt.

Fair Value Measurements, Financ

Fair Value Measurements, Financial Instruments, and Credit Risk	6 Months Ended
	Jun. 30, 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 June 30, 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. As of June 30, 2019 and December 31, 2018 , the Company has no assets or liabilities utilizing significant unobservable inputs (or Level 3) to derive its estimated fair values. Fair Value Measurements at Reporting Date Using Balance Sheet Location June 30, 2019 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) (In thousands) Derivative asset – current Other current assets $ 258 $ — $ 258 Derivative asset – noncurrent Other long-term assets 603 — 603 Retirement plan asset – noncurrent Other long-term asset 2,640 2,640 — Derivative liability – current Other payables and accruals 112 — 112 Total $ 3,613 $ 2,640 $ 973 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) (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. June 30, 2019 December 31, 2018 Carrying Value Fair Value Carrying Value Fair Value (In thousands) USD Tranche (significant other observable inputs – level 2) $ 362,000 $ 361,323 $ 362,000 $ 352,498 Euro Tranche (significant other observable inputs – level 2) $ 341,580 $ 342,434 $ 342,900 $ 338,830 7.0% Senior Notes (quoted prices in active market for identical assets – level 1) $ 394,750 $ 400,194 $ 399,060 $ 369,561 5.25% Senior Notes (quoted prices in active market for identical assets – level 1) $ 330,194 $ 341,790 $ 331,470 $ 299,125 ABL Facility $ 27,000 $ 27,000 $ 5,000 $ 5,000 Capital lease obligation $ 1,101 $ 1,101 $ 1,184 $ 1,184 KFPC Loan Agreement $ 95,441 $ 95,441 $ 112,489 $ 112,489 KFPC Revolving Facilities $ 14,490 $ 14,490 $ 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 June 30, 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 $2.6 million and an unrealized gain of $0.9 million for the three months ended June 30, 2019 and 2018 , respectively, and an unrealized loss of $4.3 million and an unrealized gain of $4.6 million during the six months ended June 30, 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 six months ended June 30, 2018 . Foreign Currency Hedges. Periodically, we enter into foreign currency agreements to hedge or otherwise protect against fluctuations in foreign currency exchange rates. These agreements do not qualify for hedge accounting, and gains/losses resulting from both the up-front premiums and/or settlement of the hedges at expiration of the agreements are recognized in the period in which they are incurred. We settled these hedges and recorded a gain of $0.3 million and a loss of $0.2 million for the three months ended June 30, 2019 and 2018 , respectively, and a loss of $1.9 million and $0.2 million for the six months ended June 30, 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 $1.3 million and $3.5 million for the six months ended June 30, 2019 and 2018 , 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	6 Months Ended
	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our income tax provision was a benefit of $6.8 million and $1.8 million for the three months ended June 30, 2019 and 2018 , respectively, and a benefit of $4.2 million and an expense of $0.4 million for the six months ended June 30, 2019 and 2018 , respectively. Our effective tax rate was 18.7% and 11.6% for the three months ended June 30, 2019 and 2018 , respectively, and 7.9% and 4.9% for the six months ended June 30, 2019 and 2018 , respectively. During the six months ended June 30, 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, particularly the release from the closing of the U.S tax audit. During the six months ended June 30, 2018 , our effective tax rate differed from the U.S. corporate statutory tax rate of 21.0% primarily due to the mix of our pretax income or loss generated in various foreign jurisdictions and our uncertain tax positions. The provision for income taxes differs from the amount computed by applying the U.S. corporate statutory income tax rate to income (loss) before income taxes for the reasons set forth below. Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Income taxes at the statutory rate 21.0 % 21.0 % 21.0 % 21.0 % State taxes, net of federal benefit 1.3 1.3 1.3 1.8 Foreign tax rate differential (9.2 ) 8.5 (6.3 ) (50.2 ) Permanent differences 7.3 (11.8 ) 2.1 (1.7 ) Uncertain tax positions (38.4 ) (3.3 ) (25.4 ) 12.6 Valuation allowance (0.8 ) (4.0 ) (0.8 ) 5.3 Return to provision adjustments 0.1 (0.1 ) 0.2 16.1 Other — — — — Effective tax rate (18.7 )% 11.6 % (7.9 )% 4.9 % Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. We consider all available material evidence, both positive and negative, in assessing the appropriateness of a valuation allowance for our deferred tax assets. In determining whether a valuation allowance is required during the period, we evaluate primarily (a) cumulative earnings and losses in recent years, (b) historical taxable income or losses as it relates to our ability to utilize operating loss and tax credit carryforwards within the expiration period, (c) trends indicating earnings or losses expected in future years along with our ability in prior years to reasonably project these future trends or operating results, (d) length of the carryback and carryforward period, and (e) prudent and feasible tax-planning strategies, particularly related to operational changes and the impact on the timing or taxability of relative amounts. As of June 30, 2019 and December 31, 2018 , we recorded a valuation allowance of $42.1 million and $42.5 million , respectively, against our net operating loss carryforwards and other deferred tax assets. We decreased our valuation allowances by $0.3 million and $0.4 million for the three and six months ended June 30, 2019 , respectively, primarily related to current period utilization of net operating loss carryforwards in certain jurisdictions. We increased our valuation allowances by $0.6 million and $0.4 million for the three and six months ended June 30, 2018 , respectively, primarily related to current period net operating losses in the U.S. For the period ending June 30, 2019, a portion of the unremitted foreign earnings are permanently reinvested in the corresponding country of origin. Accordingly, we have not provided deferred taxes for the differences between the book basis and underlying tax basis in those subsidiaries or on the foreign currency translation adjustment amounts related to such operations. We file income tax returns in the U.S. federal jurisdiction and in various state and foreign jurisdictions. For our U.S. federal income tax returns, the statute of limitations has expired through the tax year ended December 31, 2003. As a result of net operating loss carryforwards from 2004, the statute remains open for all years subsequent to 2003. In addition, open tax years for state and foreign jurisdictions remain subject to examination. We recognize the tax impact of certain tax positions only when it is more likely than not those such positions are sustainable. The taxes are recorded in accordance with ASC 740-10, Accounting for Uncertainty in Income Taxes , which prescribes the minimum recognition threshold. As of June 30, 2019 and December 31, 2018 , we had total unrecognized tax benefits of $16.1 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 and six months ended June 30, 2019 , we had a decrease of $13.9 million and $13.5 million , respectively, primarily related to the closing of the U.S. tax audit for the pre-acquisition tax return filing. During the three and six months ended June 30, 2018 , we had an increase of $0.1 million and $0.9 million , respectively, primarily related to our uncertain tax positions in the U.S. and Europe. We recorded interest and penalties related to unrecognized tax benefits within the provision for income taxes. For the year ending December 31, 2019, we expect to release $19.7 million in reserves, of which $14.0 million was released during the three months ended June 30, 2019 as a result of the closing of certain U.S. tax audits. The Tax Cuts and Jobs Act enacted on December 22, 2017 (the “Tax Act”) 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	6 Months Ended
	Jun. 30, 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: Six Months Ended June 30, 2019 (In thousands) Lease cost $ 11,315 Variable lease cost 115 Operating lease expense $ 11,430 The operating lease liabilities arising from obtaining ROU assets as of June 30, 2019 were comprised as follows: Leased Asset Class Polymer Chemical Percentage Average Months Remaining on the Lease Weighted Average in Months (in thousands) Railcars $ 1,703 $ 24,800 35.1 % 49 17.2 Buildings 13,986 9,263 30.8 % 37 11.4 Equipment 2,582 9,750 16.3 % 27 4.4 Land 7,083 43 9.4 % 468 44.2 Other 651 5,597 8.3 % 19 1.6 Total $ 26,005 $ 49,453 78.8 The following tables show the undiscounted cash flows for the operating lease liabilities. June 30, 2019 (In thousands) July 1, 2019 through December 31, 2019 $ 11,641 2020 20,180 2021 15,538 2022 10,301 2023 7,040 Thereafter 17,776 Total undiscounted operating lease liabilities 82,476 Present value discount (7,476 ) Foreign currency and other 458 Total discounted operating lease liabilities $ 75,458 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: Six Months Ended June 30, 2019 2018 (In thousands) Beginning balance $ 5,703 $ 5,712 Accretion expense 177 168 Obligations settled (206 ) (40 ) Foreign currency translation (15 ) (141 ) Ending balance $ 5,659 $ 5,699 Pursuant to the indemnity included in the February 2001 separation agreement from Shell Chemical, we recorded a receivable of $0.2 million as of June 30, 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	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, 2019 2018 2019 2018 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans (In thousands) Service cost $ 557 $ 389 $ 906 $ 632 $ 1,310 $ 778 $ 1,793 $ 1,283 Interest cost 1,946 516 1,795 527 3,884 1,049 3,590 1,068 Expected return on plan assets (2,513 ) (611 ) (2,453 ) (684 ) (5,030 ) (1,244 ) (4,905 ) (1,384 ) Amortization of prior service cost — 8 (1,235 ) 4 — 17 — 7 Amortization of net actuarial loss 990 104 2,452 163 1,835 210 2,452 331 Net periodic benefit cost $ 980 $ 406 $ 1,465 $ 642 $ 1,999 $ 810 $ 2,930 $ 1,305 The components of net periodic benefit costs other than the service cost component are included in Other expense on our Condensed Consolidated Statements of Operations. We made contributions of $6.5 million and $6.6 million to our pension plans in the six months ended June 30, 2019 and 2018 , respectively. The components of net periodic benefit cost related to other post-retirement benefits are as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 U.S. Plans U.S. Plans U.S. Plans U.S. Plans (In thousands) Service cost $ 90 $ 124 $ 180 $ 279 Interest cost 240 344 480 679 Amortization of prior service cost (438 ) 194 (875 ) 382 Amortization of net actuarial loss 175 — 350 — Net periodic benefit cost $ 67 $ 662 $ 135 $ 1,340 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.

Industry Segments and Foreign O

Industry Segments and Foreign Operations	6 Months Ended
	Jun. 30, 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 June 30, 2019 Three Months Ended June 30, 2018 Polymer Chemical Total Polymer Chemical Total (In thousands) Revenue $ 297,861 $ 197,419 $ 495,280 $ 338,150 $ 200,245 $ 538,395 Cost of goods sold 218,995 147,083 366,078 228,304 139,382 367,686 Gross profit 78,866 50,336 129,202 109,846 60,863 170,709 Operating expenses: Research and development 7,338 2,835 10,173 7,386 3,088 10,474 Selling, general, and administrative 22,206 16,251 38,457 24,461 17,514 41,975 Depreciation and amortization 14,343 17,561 31,904 17,598 17,542 35,140 Gain on insurance proceeds — (7,500 ) (7,500 ) — — — Loss on disposal of fixed assets — — — 170 163 333 Operating income $ 34,979 $ 21,189 56,168 $ 60,231 $ 22,556 82,787 Other expense (417 ) (1,107 ) Loss on extinguishment of debt — (72,330 ) Earnings of unconsolidated joint venture 140 120 Interest expense, net (19,339 ) (25,416 ) Income (loss) before income taxes $ 36,552 $ (15,946 ) Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 Polymer Chemical Total Polymer Chemical Total (In thousands) Revenue $ 558,916 $ 392,775 $ 951,691 $ 627,221 $ 413,566 $ 1,040,787 Cost of goods sold 426,164 289,323 715,487 435,944 287,056 723,000 Gross profit 132,752 103,452 236,204 191,277 126,510 317,787 Operating expenses: Research and development 14,905 5,819 20,724 14,833 6,438 21,271 Selling, general, and administrative 45,304 34,047 79,351 47,981 32,717 80,698 Depreciation and amortization 28,314 35,112 63,426 35,360 35,156 70,516 Gain on insurance proceeds — (18,600 ) (18,600 ) — — — Loss on disposal of fixed assets — — — 72 288 360 Operating income $ 44,229 $ 47,074 91,303 $ 93,031 $ 51,911 144,942 Other expense (676 ) (2,220 ) Gain (loss) on extinguishment of debt 210 (79,921 ) Earnings of unconsolidated joint venture 261 257 Interest expense, net (38,280 ) (54,692 ) Income before income taxes $ 52,818 $ 8,366 The following table presents long-lived assets including goodwill and total assets. June 30, 2019 December 31, 2018 Polymer Chemical Total Polymer Chemical Total (In thousands) Property, plant, and equipment, net $ 545,998 $ 398,742 $ 944,740 $ 543,086 $ 398,390 $ 941,476 Investment in unconsolidated joint venture $ 11,852 $ — $ 11,852 $ 12,070 $ — $ 12,070 Goodwill $ — $ 772,939 $ 772,939 $ — $ 772,886 $ 772,886 Total assets $ 1,215,208 $ 1,793,497 $ 3,008,705 $ 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 June 30, 2019 Three Months Ended June 30, 2018 Polymer Chemical Total Polymer Chemical Total (In thousands) (In thousands) Revenue: United States $ 104,178 $ 85,266 $ 189,444 $ 110,260 $ 81,231 $ 191,491 Germany 29,086 12,297 41,383 39,665 12,850 52,515 All other countries 164,597 99,856 264,453 188,225 106,164 294,389 $ 297,861 $ 197,419 $ 495,280 $ 338,150 $ 200,245 $ 538,395 Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 Polymer Chemical Total Polymer Chemical Total (In thousands) (In thousands) Revenue: United States $ 192,146 $ 165,623 $ 357,769 $ 213,989 $ 162,555 $ 376,544 Germany 54,997 27,278 82,275 71,507 29,086 100,593 All other countries 311,773 199,874 511,647 341,725 221,925 563,650 $ 558,916 $ 392,775 $ 951,691 $ 627,221 $ 413,566 $ 1,040,787 Our capital expenditures for the Polymer segment, excluding capital expenditures by the KFPC joint venture, were $29.9 million and $19.5 million during the six months ended June 30, 2019 and 2018 , respectively, and capital expenditures for our Chemical segment were $20.1 million and $22.7 million during the six months ended June 30, 2019 and 2018 , respectively. Impact of Hurricane Michael During the six months ended June 30, 2019, we incurred an incremental $12.8 million of direct costs as we continued to ramp production back to operating capacity. Our insurance carrier provided an additional $17.5 million of advance reimbursement under our insurance policies, recorded as a gain on insurance proceeds in the Condensed Consolidated Statement of Operations (including $1.1 million of proceeds received during the fourth quarter of 2018, but which was deferred at that time as unearned until realizable, during the first quarter of 2019). The $18.6 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 have spent $5.6 million as of June 30, 2019. 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	6 Months Ended
	Jun. 30, 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 $16.5 million and $20.1 million as of June 30, 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 $7.2 million for the three months ended June 30, 2019 and 2018 , respectively, and $16.4 million and $16.3 million for the six months ended June 30, 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 $0.7 million and $0.8 million as of June 30, 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 $13.6 million and $7.4 million for the three months ended June 30, 2019 and 2018 , respectively, and $25.4 million and $13.1 million for the six months ended June 30, 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	6 Months Ended
	Jun. 30, 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 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 June 30, 2019 and December 31, 2018 for KFPC before intercompany eliminations. June 30, 2019 December 31, 2018 (In thousands) Cash and cash equivalents $ 5,204 $ 6,640 Other current assets 18,035 18,363 Property, plant, and equipment, net 154,529 159,893 Intangible assets 8,178 8,590 Long-term operating lease assets, net 6,953 — Other long-term assets 8,939 11,838 Total assets $ 201,838 $ 205,324 Current portion of long-term debt $ 109,931 $ 45,152 Current liabilities 14,704 14,996 Long-term debt — 80,255 Long-term operating lease liabilities 6,677 — Total liabilities $ 131,312 $ 140,403

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 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 June 30, 2019 .

General (Policies)

General (Policies)	6 Months Ended
	Jun. 30, 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 right-of-use model (“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 $13.2 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 and six months ended June 30, 2019 , we recognized $0.3 million and $6.0 million

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, 2019 2018 2019 2018 Polymer Segment (In thousands) Performance Products $ 143,181 $ 180,738 $ 281,273 $ 326,468 Specialty Polymers 103,487 108,289 185,497 212,307 Cariflex 51,009 48,976 91,876 88,501 Other 184 147 270 (55 ) Polymer Product Line Revenue $ 297,861 $ 338,150 $ 558,916 $ 627,221 Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Chemical Segment (In thousands) Adhesives $ 68,818 $ 73,978 $ 134,394 $ 147,126 Performance Chemicals 115,646 114,813 232,399 237,754 Tires 12,955 11,454 25,982 28,686 Chemical Product Line Revenue $ 197,419 $ 200,245 $ 392,775 $ 413,566
Schedule of Contract with Customer, Asset and Liability	June 30, 2019 December 31, 2018 (In thousands) Contract receivables (1) $ 263,036 $ 197,739 Contract liabilities (2) $ 13,234 $ 13,906 ____________________________________________________ (1) Contract receivables are recorded within receivables, net of allowances on our Condensed Consolidated Balance Sheets. (2) Our contract liability decreased by $0.6 million , as a result of meeting the performance obligation, which was recognized in our Specialty Polymers product line revenue, and decreased approximately $0.1 million due to the change in currency exchange rates.

Detail of Certain Balance She_2

Detail of Certain Balance Sheet Accounts (Tables)	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Detail of certain balance sheet accounts	June 30, 2019 December 31, 2018 (In thousands) Inventories of products: Finished products $ 330,034 $ 315,361 Work in progress 6,080 5,781 Raw materials 102,792 97,550 Inventories of products, gross 438,906 418,692 Inventory reserves (7,526 ) (8,052 ) Total inventories of products, net $ 431,380 $ 410,640 Intangible assets: Contractual agreements $ 262,477 $ 262,624 Technology 145,880 145,698 Customer relationships 60,344 60,359 Tradenames/trademarks 80,744 80,557 Software 64,915 59,448 Intangible assets 614,360 608,686 Less accumulated amortization: Contractual agreements 76,841 65,958 Technology 65,074 62,019 Customer relationships 38,087 37,409 Tradenames/trademarks 45,495 42,797 Software 43,377 38,465 Total accumulated amortization 268,874 246,648 Intangible assets, net of accumulated amortization $ 345,486 $ 362,038 Other payables and accruals: Employee related $ 27,976 $ 35,015 Interest payable 16,447 2,201 Property, plant, and equipment accruals 10,358 10,982 Short-term operating lease liabilities 19,570 — Other 37,729 52,497 Total other payables and accruals $ 112,080 $ 100,695 Other long-term liabilities: Pension and other post-retirement benefits $ 119,524 $ 122,194 Other 47,468 60,699 Total other long-term liabilities $ 166,992 $ 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 (loss) before reclassifications (10,956 ) 3,567 2,641 — (4,748 ) Amounts reclassified from accumulated other comprehensive loss — (1,999 ) — — (1,999 ) Net other comprehensive income (loss) for the year (10,956 ) 1,568 2,641 — (6,747 ) June 30, 2018 $ (20,610 ) $ 6,118 $ 715 $ (91,265 ) $ (105,042 ) December 31, 2018 $ (24,093 ) $ 3,922 $ 6,153 $ (77,681 ) $ (91,699 ) Other comprehensive income (loss) before reclassifications (1,899 ) (3,347 ) 986 — (4,260 ) Net other comprehensive income (loss) for the year (1,899 ) (3,347 ) 986 — (4,260 ) June 30, 2019 $ (25,992 ) $ 575 $ 7,139 $ (77,681 ) $ (95,959 )

Earnings Per Share ("EPS") (Tab

Earnings Per Share ("EPS") (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2019 Three Months Ended June 30, 2018 Net Income Attributable to Kraton Weighted Average Shares Outstanding Earnings Per Share Net Loss Attributable to Kraton Weighted Average Shares Outstanding Loss Per Share (In thousands, except per share data) Basic: As reported $ 41,208 31,920 $ (14,930 ) 31,890 Amounts allocated to unvested restricted shares (294 ) (228 ) 210 (449 ) Amounts available to common stockholders 40,914 31,692 $ 1.29 (14,720 ) 31,441 $ (0.47 ) Diluted: Amounts allocated to unvested restricted shares 294 228 (210 ) 449 Non participating share units — 266 — — Stock options added under the treasury stock method — 59 — — Amounts reallocated to unvested restricted shares (291 ) (228 ) 210 (449 ) Amounts available to stockholders and assumed conversions $ 40,917 32,017 $ 1.28 $ (14,720 ) 31,441 $ (0.47 ) Six Months Ended June 30, 2019 Six Months Ended June 30, 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 $ 53,876 31,938 $ 7,142 31,831 Amounts allocated to unvested restricted shares (464 ) (275 ) (110 ) (489 ) Amounts available to common stockholders 53,412 31,663 $ 1.69 7,032 31,342 $ 0.22 Diluted: Amounts allocated to unvested restricted shares 464 275 110 489 Non participating share units — 235 — 201 Stock options added under the treasury stock method — 61 — 254 Amounts reallocated to unvested restricted shares (460 ) (275 ) (108 ) (489 ) Amounts available to stockholders and assumed conversions $ 53,416 31,959 $ 1.67 $ 7,034 31,797 $ 0.22

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Schedule of long-term debt	Long-term debt consists of the following: June 30, 2019 December 31, 2018 Principal Discount Debt Issuance Costs Total Principal Discount Debt Issuance Costs Total (In thousands) USD Tranche $ 362,000 $ (6,859 ) $ (9,453 ) $ 345,688 $ 362,000 $ (7,395 ) $ (10,171 ) $ 344,434 Euro Tranche 341,580 — (4,344 ) 337,236 342,900 — (4,711 ) 338,189 7.0% Senior Notes 394,750 — (6,234 ) 388,516 399,060 — (6,622 ) 392,438 5.25% Senior Notes 330,194 — (5,191 ) 325,003 331,470 — (5,503 ) 325,967 ABL Facility 27,000 — — 27,000 5,000 — — 5,000 KFPC Loan Agreement 95,441 — (47 ) 95,394 112,489 — (94 ) 112,395 KFPC Revolving Facilities 14,490 — — 14,490 13,012 — — 13,012 Capital lease obligation 1,101 — — 1,101 1,184 — — 1,184 Total debt 1,566,556 (6,859 ) (25,269 ) 1,534,428 1,567,115 (7,395 ) (27,101 ) 1,532,619 Less current portion of total debt 110,105 — — 110,105 45,321 — — 45,321 Long-term debt $ 1,456,451 $ (6,859 ) $ (25,269 ) $ 1,424,323 $ 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 June 30, 2019 , are as follows: Principal Payments (In thousands) July 1, 2019 through June 30, 2020 $ 110,105 July 1, 2020 through June 30, 2021 27,185 July 1, 2021 through June 30, 2022 196 July 1, 2022 through June 30, 2023 208 July 1, 2023 through June 30, 2024 221 Thereafter 1,428,641 Total debt $ 1,566,556

Fair Value Measurements, Fina_2

Fair Value Measurements, Financial Instruments, and Credit Risk (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 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. As of June 30, 2019 and December 31, 2018 , the Company has no assets or liabilities utilizing significant unobservable inputs (or Level 3) to derive its estimated fair values. Fair Value Measurements at Reporting Date Using Balance Sheet Location June 30, 2019 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) (In thousands) Derivative asset – current Other current assets $ 258 $ — $ 258 Derivative asset – noncurrent Other long-term assets 603 — 603 Retirement plan asset – noncurrent Other long-term asset 2,640 2,640 — Derivative liability – current Other payables and accruals 112 — 112 Total $ 3,613 $ 2,640 $ 973 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) (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. June 30, 2019 December 31, 2018 Carrying Value Fair Value Carrying Value Fair Value (In thousands) USD Tranche (significant other observable inputs – level 2) $ 362,000 $ 361,323 $ 362,000 $ 352,498 Euro Tranche (significant other observable inputs – level 2) $ 341,580 $ 342,434 $ 342,900 $ 338,830 7.0% Senior Notes (quoted prices in active market for identical assets – level 1) $ 394,750 $ 400,194 $ 399,060 $ 369,561 5.25% Senior Notes (quoted prices in active market for identical assets – level 1) $ 330,194 $ 341,790 $ 331,470 $ 299,125 ABL Facility $ 27,000 $ 27,000 $ 5,000 $ 5,000 Capital lease obligation $ 1,101 $ 1,101 $ 1,184 $ 1,184 KFPC Loan Agreement $ 95,441 $ 95,441 $ 112,489 $ 112,489 KFPC Revolving Facilities $ 14,490 $ 14,490 $ 13,012 $ 13,012

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, 2019 2018 2019 2018 Income taxes at the statutory rate 21.0 % 21.0 % 21.0 % 21.0 % State taxes, net of federal benefit 1.3 1.3 1.3 1.8 Foreign tax rate differential (9.2 ) 8.5 (6.3 ) (50.2 ) Permanent differences 7.3 (11.8 ) 2.1 (1.7 ) Uncertain tax positions (38.4 ) (3.3 ) (25.4 ) 12.6 Valuation allowance (0.8 ) (4.0 ) (0.8 ) 5.3 Return to provision adjustments 0.1 (0.1 ) 0.2 16.1 Other — — — — Effective tax rate (18.7 )% 11.6 % (7.9 )% 4.9 %

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Lease, Cost	The components of lease cost for operating leases are as follows: Six Months Ended June 30, 2019 (In thousands) Lease cost $ 11,315 Variable lease cost 115 Operating lease expense $ 11,430
Schedule Of Lease By Asset Type	The operating lease liabilities arising from obtaining ROU assets as of June 30, 2019 were comprised as follows: Leased Asset Class Polymer Chemical Percentage Average Months Remaining on the Lease Weighted Average in Months (in thousands) Railcars $ 1,703 $ 24,800 35.1 % 49 17.2 Buildings 13,986 9,263 30.8 % 37 11.4 Equipment 2,582 9,750 16.3 % 27 4.4 Land 7,083 43 9.4 % 468 44.2 Other 651 5,597 8.3 % 19 1.6 Total $ 26,005 $ 49,453 78.8
Lessee, Operating Lease, Liability, Maturity	The following tables show the undiscounted cash flows for the operating lease liabilities. June 30, 2019 (In thousands) July 1, 2019 through December 31, 2019 $ 11,641 2020 20,180 2021 15,538 2022 10,301 2023 7,040 Thereafter 17,776 Total undiscounted operating lease liabilities 82,476 Present value discount (7,476 ) Foreign currency and other 458 Total discounted operating lease liabilities $ 75,458
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: Six Months Ended June 30, 2019 2018 (In thousands) Beginning balance $ 5,703 $ 5,712 Accretion expense 177 168 Obligations settled (206 ) (40 ) Foreign currency translation (15 ) (141 ) Ending balance $ 5,659 $ 5,699

Employee Benefits (Tables)

Employee Benefits (Tables)	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, 2019 2018 2019 2018 U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans U.S. Plans Non-U.S. Plans (In thousands) Service cost $ 557 $ 389 $ 906 $ 632 $ 1,310 $ 778 $ 1,793 $ 1,283 Interest cost 1,946 516 1,795 527 3,884 1,049 3,590 1,068 Expected return on plan assets (2,513 ) (611 ) (2,453 ) (684 ) (5,030 ) (1,244 ) (4,905 ) (1,384 ) Amortization of prior service cost — 8 (1,235 ) 4 — 17 — 7 Amortization of net actuarial loss 990 104 2,452 163 1,835 210 2,452 331 Net periodic benefit cost $ 980 $ 406 $ 1,465 $ 642 $ 1,999 $ 810 $ 2,930 $ 1,305 The components of net periodic benefit cost related to other post-retirement benefits are as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 U.S. Plans U.S. Plans U.S. Plans U.S. Plans (In thousands) Service cost $ 90 $ 124 $ 180 $ 279 Interest cost 240 344 480 679 Amortization of prior service cost (438 ) 194 (875 ) 382 Amortization of net actuarial loss 175 — 350 — Net periodic benefit cost $ 67 $ 662 $ 135 $ 1,340

Industry Segments and Foreign_2

Industry Segments and Foreign Operations (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2019 Three Months Ended June 30, 2018 Polymer Chemical Total Polymer Chemical Total (In thousands) Revenue $ 297,861 $ 197,419 $ 495,280 $ 338,150 $ 200,245 $ 538,395 Cost of goods sold 218,995 147,083 366,078 228,304 139,382 367,686 Gross profit 78,866 50,336 129,202 109,846 60,863 170,709 Operating expenses: Research and development 7,338 2,835 10,173 7,386 3,088 10,474 Selling, general, and administrative 22,206 16,251 38,457 24,461 17,514 41,975 Depreciation and amortization 14,343 17,561 31,904 17,598 17,542 35,140 Gain on insurance proceeds — (7,500 ) (7,500 ) — — — Loss on disposal of fixed assets — — — 170 163 333 Operating income $ 34,979 $ 21,189 56,168 $ 60,231 $ 22,556 82,787 Other expense (417 ) (1,107 ) Loss on extinguishment of debt — (72,330 ) Earnings of unconsolidated joint venture 140 120 Interest expense, net (19,339 ) (25,416 ) Income (loss) before income taxes $ 36,552 $ (15,946 ) Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 Polymer Chemical Total Polymer Chemical Total (In thousands) Revenue $ 558,916 $ 392,775 $ 951,691 $ 627,221 $ 413,566 $ 1,040,787 Cost of goods sold 426,164 289,323 715,487 435,944 287,056 723,000 Gross profit 132,752 103,452 236,204 191,277 126,510 317,787 Operating expenses: Research and development 14,905 5,819 20,724 14,833 6,438 21,271 Selling, general, and administrative 45,304 34,047 79,351 47,981 32,717 80,698 Depreciation and amortization 28,314 35,112 63,426 35,360 35,156 70,516 Gain on insurance proceeds — (18,600 ) (18,600 ) — — — Loss on disposal of fixed assets — — — 72 288 360 Operating income $ 44,229 $ 47,074 91,303 $ 93,031 $ 51,911 144,942 Other expense (676 ) (2,220 ) Gain (loss) on extinguishment of debt 210 (79,921 ) Earnings of unconsolidated joint venture 261 257 Interest expense, net (38,280 ) (54,692 ) Income before income taxes $ 52,818 $ 8,366
Schedule of assets by segment	The following table presents long-lived assets including goodwill and total assets. June 30, 2019 December 31, 2018 Polymer Chemical Total Polymer Chemical Total (In thousands) Property, plant, and equipment, net $ 545,998 $ 398,742 $ 944,740 $ 543,086 $ 398,390 $ 941,476 Investment in unconsolidated joint venture $ 11,852 $ — $ 11,852 $ 12,070 $ — $ 12,070 Goodwill $ — $ 772,939 $ 772,939 $ — $ 772,886 $ 772,886 Total assets $ 1,215,208 $ 1,793,497 $ 3,008,705 $ 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 June 30, 2019 Three Months Ended June 30, 2018 Polymer Chemical Total Polymer Chemical Total (In thousands) (In thousands) Revenue: United States $ 104,178 $ 85,266 $ 189,444 $ 110,260 $ 81,231 $ 191,491 Germany 29,086 12,297 41,383 39,665 12,850 52,515 All other countries 164,597 99,856 264,453 188,225 106,164 294,389 $ 297,861 $ 197,419 $ 495,280 $ 338,150 $ 200,245 $ 538,395 Six Months Ended June 30, 2019 Six Months Ended June 30, 2018 Polymer Chemical Total Polymer Chemical Total (In thousands) (In thousands) Revenue: United States $ 192,146 $ 165,623 $ 357,769 $ 213,989 $ 162,555 $ 376,544 Germany 54,997 27,278 82,275 71,507 29,086 100,593 All other countries 311,773 199,874 511,647 341,725 221,925 563,650 $ 558,916 $ 392,775 $ 951,691 $ 627,221 $ 413,566 $ 1,040,787

Variable Interest Entity (Table

Variable Interest Entity (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2019 and December 31, 2018 for KFPC before intercompany eliminations. June 30, 2019 December 31, 2018 (In thousands) Cash and cash equivalents $ 5,204 $ 6,640 Other current assets 18,035 18,363 Property, plant, and equipment, net 154,529 159,893 Intangible assets 8,178 8,590 Long-term operating lease assets, net 6,953 — Other long-term assets 8,939 11,838 Total assets $ 201,838 $ 205,324 Current portion of long-term debt $ 109,931 $ 45,152 Current liabilities 14,704 14,996 Long-term debt — 80,255 Long-term operating lease liabilities 6,677 — Total liabilities $ 131,312 $ 140,403

General (Details)

General (Details)	Jun. 30, 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	Jun. 30, 2019	Jan. 01, 2019
Accounting Changes and Error Corrections [Abstract]
Operating lease, right-of-use asset	$ 72,520	$ 70,900
Total discounted operating lease liabilities	$ 75,458	$ 70,900

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Liability, revenue recognized	$ 300	$ 700	$ 6,000	$ 4,500
Contract receivables	263,036		263,036		$ 197,739
Contract liabilities	13,234		13,234		$ 13,906
Polymer
Disaggregation of Revenue [Line Items]
Revenue	297,861	338,150	558,916	627,221
Polymer | Performance Products
Disaggregation of Revenue [Line Items]
Revenue	143,181	180,738	281,273	326,468
Polymer | Specialty Polymers
Disaggregation of Revenue [Line Items]
Revenue	103,487	108,289	185,497	212,307
Liability, revenue recognized			600
Effect of exchange rate differences on cash			100
Polymer | Cariflex
Disaggregation of Revenue [Line Items]
Revenue	51,009	48,976	91,876	88,501
Polymer | Other
Disaggregation of Revenue [Line Items]
Revenue	184	147	270	(55)
Chemical
Disaggregation of Revenue [Line Items]
Revenue	197,419	200,245	392,775	413,566
Chemical | Adhesives
Disaggregation of Revenue [Line Items]
Revenue	68,818	73,978	134,394	147,126
Chemical | Performance Chemicals
Disaggregation of Revenue [Line Items]
Revenue	115,646	114,813	232,399	237,754
Chemical | Tires
Disaggregation of Revenue [Line Items]
Revenue	$ 12,955	$ 11,454	$ 25,982	$ 28,686

Revenue Recognition - Obligatio

Revenue Recognition - Obligation (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-07-01	Jun. 30, 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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share-based Payment Arrangement [Abstract]
Award requisite service period			3 years
Share-based compensation expense	$ 2.2	$ 2.2	$ 5.5	$ 5.1

Detail of Certain Balance She_3

Detail of Certain Balance Sheet Accounts - Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Inventories of products:
Finished products	$ 330,034	$ 315,361
Work in progress	6,080	5,781
Raw materials	102,792	97,550
Inventories of products, gross	438,906	418,692
Inventory reserves	(7,526)	(8,052)
Total inventories of products, net	431,380	410,640
Other payables and accruals:
Employee related	27,976	35,015
Interest payable	16,447	2,201
Property, plant, and equipment accruals	10,358	10,982
Short-term operating lease liabilities	19,570	0
Other	37,729	52,497
Total other payables and accruals	112,080	100,695
Other long-term liabilities:
Pension and other post-retirement benefits	119,524	122,194
Other	47,468	60,699
Total other long-term liabilities	166,992	182,893
Supplemental Balance Sheet Information [Line Items]
Intangible assets	614,360	608,686
Less accumulated amortization	268,874	246,648
Intangible assets, net of accumulated amortization	345,486	362,038
Contractual agreements
Supplemental Balance Sheet Information [Line Items]
Intangible assets	262,477	262,624
Less accumulated amortization	76,841	65,958
Technology
Supplemental Balance Sheet Information [Line Items]
Intangible assets	145,880	145,698
Less accumulated amortization	65,074	62,019
Customer relationships
Supplemental Balance Sheet Information [Line Items]
Intangible assets	60,344	60,359
Less accumulated amortization	38,087	37,409
Tradenames/trademarks
Supplemental Balance Sheet Information [Line Items]
Intangible assets	80,744	80,557
Less accumulated amortization	45,495	42,797
Software
Supplemental Balance Sheet Information [Line Items]
Intangible assets	64,915	59,448
Less accumulated amortization	$ 43,377	$ 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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 762,054	$ 692,148	$ 747,599	$ 666,519
Other comprehensive income (loss) before reclassifications			(4,260)	(4,748)
Amounts reclassified from accumulated other comprehensive loss				(1,999)
Other comprehensive loss, net of tax	(3,042)	(11,260)	(4,260)	(6,747)
Ending balance	799,430	667,587	799,430	667,587
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			(1,899)	(10,956)
Amounts reclassified from accumulated other comprehensive loss				0
Other comprehensive loss, net of tax			(1,899)	(10,956)
Ending balance	(25,992)	(20,610)	(25,992)	(20,610)
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			(3,347)	3,567
Amounts reclassified from accumulated other comprehensive loss				(1,999)
Other comprehensive loss, net of tax			(3,347)	1,568
Ending balance	575	6,118	575	6,118
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			986	2,641
Amounts reclassified from accumulated other comprehensive loss				0
Other comprehensive loss, net of tax			986	2,641
Ending balance	7,139	715	7,139	715
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 loss, net of tax			0	0
Ending balance	(77,681)	(91,265)	(77,681)	(91,265)
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(92,917)	(93,782)	(91,699)	(98,295)
Ending balance	$ (95,959)	$ (105,042)	$ (95,959)	$ (105,042)

Earnings Per Share ("EPS") (Det

Earnings Per Share ("EPS") (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Feb. 28, 2019
Net Income (Loss) Attributable to Kraton, Basic:
As reported	$ 41,208,000	$ (14,930,000)	$ 53,876,000	$ 7,142,000
Amounts allocated to unvested restricted shares	294,000	(210,000)	464,000	110,000
Amounts available to common stockholders	40,914,000	(14,720,000)	53,412,000	7,032,000
Net Income (Loss) Attributable to Kraton, Diluted:
Amounts allocated to unvested restricted shares	294,000	(210,000)	464,000	110,000
Amounts reallocated to unvested restricted shares	(291,000)	210,000	(460,000)	(108,000)
Amounts available to stockholders and assumed conversions	$ 40,917,000	$ (14,720,000)	$ 53,416,000	$ 7,034,000
Weighted Average Shares Outstanding, Basic:
As reported (in shares)	31,920,000	31,890,000	31,938,000	31,831,000
Amounts allocated to unvested restricted shares (in shares)	(228,000)	(449,000)	(275,000)	(489,000)
Amounts available to common stockholders (in shares)	31,692,000	31,441,000	31,663,000	31,342,000
Weighted Average Shares Outstanding, Diluted:
Amounts allocated to unvested restricted shares (in shares)	(228,000)	(449,000)	(275,000)	(489,000)
Non participating share units (in shares)	266,000	0	235,000	201,000
Stock options added under the treasury stock method (in shares)	59,000	0	61,000	254,000
Amounts available to stockholders and assumed conversions (in shares)	32,017,000	31,441,000	31,959,000	31,797,000
Earnings (loss) per share, basic (in dollars per share)	$ 1.29	$ (0.47)	$ 1.69	$ 0.22
Earnings (loss) per share, diluted (in dollars per share)	$ 1.28	$ (0.47)	$ 1.67	$ 0.22
Stock repurchase program, authorized amount					$ 50,000,000
Stock repurchased during period (in shares)			152,986
Stock repurchased during period (in dollars per share)			$ 32.68
Stock repurchased during period			$ 5,000,000

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) $ in Thousands, $ in Millions	Jun. 30, 2019USD ($)	Jun. 30, 2019TWD ($)	Dec. 31, 2018USD ($)	May 31, 2018	Mar. 31, 2017
Debt Instrument [Line Items]
Total debt	$ 1,566,556		$ 1,567,115
Discount	(6,859)		(7,395)
Debt Issuance Costs	(25,269)		(27,101)
Total	1,534,428		1,532,619
Capital lease obligation	1,101		1,184
Less current portion of total debt	110,105		45,321
Long-term debt, noncurrent maturities	1,456,451		1,521,794
Long-term debt	1,424,323		1,487,298
KFPC Loan Agreement
Debt Instrument [Line Items]
Total debt	95,441	$ 3,000	112,489
Discount	0		0
Debt Issuance Costs	(47)		(94)
Total	95,394		112,395
KFPC Revolving Facilities
Debt Instrument [Line Items]
Total debt	14,500	$ 450	13,012
Discount	0		0
Debt Issuance Costs	0		0
Total	14,490		13,012
5.25% Senior Notes
Debt Instrument [Line Items]
Debt instrument interest rate				5.25%
ABL Facility
Debt Instrument [Line Items]
Total debt	27,000		5,000
Discount	0		0
Debt Issuance Costs	0		0
Total	27,000		5,000
Term Loan | USD Tranche
Debt Instrument [Line Items]
Total debt	362,000		362,000
Discount	(6,859)		(7,395)
Debt Issuance Costs	(9,453)		(10,171)
Total	345,688		344,434
Term Loan | Euro Tranche
Debt Instrument [Line Items]
Total debt	341,580		342,900
Discount	0		0
Debt Issuance Costs	(4,344)		(4,711)
Total	337,236		338,189
Senior Notes | 7.0% Senior Notes
Debt Instrument [Line Items]
Total debt	394,750		399,060
Discount	0		0
Debt Issuance Costs	(6,234)		(6,622)
Total	388,516		392,438
Debt instrument interest rate					7.00%
Senior Notes | 5.25% Senior Notes
Debt Instrument [Line Items]
Total debt	330,194		331,470
Discount	0		0
Debt Issuance Costs	(5,191)		(5,503)
Total	$ 325,003		$ 325,967

Long-Term Debt - Senior Secured

Long-Term Debt - Senior Secured Term Loan Facility (Details) $ in Thousands, € in Millions	Mar. 08, 2018	Jun. 30, 2019USD ($)	Jun. 30, 2019EUR (€)	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Outstanding amount		$ 1,566,556		$ 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		341,580		$ 342,900
Term Loan | Secured Debt | USD Tranche
Debt Instrument [Line Items]
Outstanding amount		362,000
Line of credit facility, fixed interest rate	4.29%
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		$ 341,600	€ 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		6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2018EUR (€)	Dec. 06, 2018USD ($)	May 31, 2018	Mar. 31, 2017USD ($)
Debt Instrument [Line Items]
Loss on extinguishment of debt	$ 0	$ (72,330,000)	$ 210,000	$ (79,921,000)
5.25% Senior Notes
Debt Instrument [Line Items]
Debt instrument interest rate								5.25%
Face amount	$ 330,200,000		330,200,000
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 ($)	Jun. 30, 2019	Dec. 31, 2018	Jan. 31, 2016
Debt Instrument [Line Items]
Outstanding amount	$ 1,566,556,000	$ 1,567,115,000
ABL Facility
Debt Instrument [Line Items]
Outstanding amount	27,000,000	$ 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	$ 27,000,000
Minimum percent required of federal outstanding commitments			60.00%

Long-Term Debt - KFPC Debt (Det

Long-Term Debt - KFPC Debt (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)facility	Jun. 30, 2019TWD ($)facility	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Outstanding amount | $	$ 1,566,556		$ 1,567,115
KFPC Loan Agreement
Debt Instrument [Line Items]
Outstanding amount	$ 95,441	$ 3,000,000,000	112,489
Interest rate during period	1.80%
KFPC Revolving Facilities
Debt Instrument [Line Items]
Outstanding amount	$ 14,500	$ 450,000,000	$ 13,012
KFPC Loan Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Number of debt instruments | facility	5	5
Credit facility, borrowing capacity	$ 69,200	$ 2,200,000,000

Long-Term Debt - Debt Issuance

Long-Term Debt - Debt Issuance Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Debt Instrument [Line Items]
Debt issuance costs	$ 27,000		$ 27,000
Debt issuance costs	25,269		25,269		$ 27,101
Amortization of debt issuance costs	1,200	$ 1,400	2,310	$ 3,325
ABL Facility
Debt Instrument [Line Items]
Debt issuance costs	1,800		1,800
Debt issuance costs	0		0		$ 0
ABL Facility | Other current assets
Debt Instrument [Line Items]
Debt issuance costs	$ 1,200		$ 1,200

Long-Term Debt - Remaining Prin

Long-Term Debt - Remaining Principal Payments on Outstanding Total Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
July 1, 2019 through June 30, 2020	$ 110,105
July 1, 2020 through June 30, 2021	27,185
July 1, 2021 through June 30, 2022	196
July 1, 2022 through June 30, 2023	208
July 1, 2023 through June 30, 2024	221
Thereafter	1,428,641
Total debt	$ 1,566,556	$ 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	Jun. 30, 2019	Dec. 31, 2018
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total	$ 3,613	$ 7,691
Other current assets
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative asset – current	258	1,558
Other long-term assets
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative asset – noncurrent	603	3,635
Retirement plan asset – noncurrent	2,640	2,485
Other payables and accruals
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative liability – current	112	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	2,640	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	2,640	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	973	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	258	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	603	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	$ 112	$ 13

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	Jun. 30, 2019	Dec. 31, 2018
Carrying Value | KFPC Loan Agreement
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	$ 95,441	$ 112,489
Carrying Value | KFPC Revolving Facilities
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	14,490	13,012
Carrying Value | ABL Facility
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	27,000	5,000
Carrying Value | Capital lease obligation
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	1,101	1,184
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	341,580	342,900
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	330,194	331,470
Fair Value | KFPC Loan Agreement
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	95,441	112,489
Fair Value | KFPC Revolving Facilities
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	14,490	13,012
Fair Value | ABL Facility
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	27,000	5,000
Fair Value | Capital lease obligation
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term debt	1,101	1,184
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	361,323	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	342,434	338,830
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	400,194	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	$ 341,790	$ 299,125

Fair Value Measurements, Fina_5

Fair Value Measurements, Financial Instruments, and Credit Risk - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2018EUR (€)	Jun. 04, 2018USD ($)	May 31, 2018USD ($)	Jan. 03, 2017USD ($)
Derivative [Line Items]
Reclassification of loss on cash flow hedge	$ 0	$ 0	$ 0	$ (1,999,000)
Europe
Derivative [Line Items]
Face amount | €						€ 290,000,000
Mark to market gain recorded in accumulated other comprehensive loss			1,300,000	3,500,000
Interest Rate Swap
Derivative [Line Items]
Notional amount	300,000,000		300,000,000				$ 90,000,000		$ 925,400,000
Unrealized gain (loss) on derivatives	$ (2,600,000)	900,000	$ (4,300,000)	4,600,000
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%		1.608%
Interest Rate Swap | Short
Derivative [Line Items]
Notional amount					$ 715,400,000			$ 90,000,000
Foreign Currency Hedges
Derivative [Line Items]
Aggregate gain (loss) on settlement of hedges	$ 300,000	$ (200,000)	$ (1,900,000)	$ (200,000)

Income Taxes Income Taxes - Add

Income Taxes Income Taxes - Additional Information (Details) (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)	$ 6,846	$ 1,842	$ 4,192	$ (409)
Effective tax rate	(18.70%)	11.60%	(7.90%)	4.90%
Valuation allowance for deferred tax assets	$ 42,100		$ 42,100			$ 42,500
Increase (decrease) in valuation allowance	300	$ (600)	400	$ (400)
Unrecognized tax benefits	16,100		16,100			29,600
Increase (decrease) in uncertain tax positions	$ (13,900)	$ 100	(13,500)	900
Release of valuation allowance			$ 13,457	$ 0
Transition tax on accumulated foreign earnings, percent							0.155
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					$ 19,700
Scenario, Forecast | Closing of US Tax Audits
Operating Loss Carryforwards [Line Items]
Release of valuation allowance					$ 14,000

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Effective Tax Rate, Percent (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Income taxes at the statutory rate	21.00%	21.00%	21.00%	21.00%
State taxes, net of federal benefit	1.30%	1.30%	1.30%	1.80%
Foreign tax rate differential	(9.20%)	8.50%	(6.30%)	(50.20%)
Permanent differences	7.30%	(11.80%)	2.10%	(1.70%)
Uncertain tax positions	(38.40%)	(3.30%)	(25.40%)	12.60%
Valuation allowance	(0.80%)	(4.00%)	(0.80%)	5.30%
Return to provision adjustments	0.10%	(0.10%)	0.20%	16.10%
Other	0.00%	0.00%	0.00%	0.00%
Effective tax rate	(18.70%)	11.60%	(7.90%)	4.90%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) R$ in Millions, $ in Millions	Jun. 30, 2019USD ($)	Jun. 30, 2019BRL (R$)	Jun. 30, 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	1 year

Commitments and Contingencies_2

Commitments and Contingencies - Lease Cost (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
Lease cost	$ 11,315
Variable lease cost	115
Operating lease expense	$ 11,430

Commitments and Contingencies_3

Commitments and Contingencies - Leased Assets Class (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jan. 01, 2019
Lessee, Lease, Description [Line Items]
Operating Lease Liability	$ 75,458	$ 70,900
Weighted Average in Months	78 months 24 days
Railcars
Lessee, Lease, Description [Line Items]
Average Months Remaining on the Lease	49 months
Weighted Average in Months	17 months 6 days
Buildings
Lessee, Lease, Description [Line Items]
Average Months Remaining on the Lease	37 months
Weighted Average in Months	11 months 12 days
Equipment
Lessee, Lease, Description [Line Items]
Average Months Remaining on the Lease	27 months
Weighted Average in Months	4 months 12 days
Land
Lessee, Lease, Description [Line Items]
Average Months Remaining on the Lease	468 months
Weighted Average in Months	44 months 6 days
Other
Lessee, Lease, Description [Line Items]
Average Months Remaining on the Lease	19 months
Weighted Average in Months	1 month 18 days
Operating Lease, Concentration Risk | Operating Lease Liability | Railcars
Lessee, Lease, Description [Line Items]
Percentage	35.10%
Operating Lease, Concentration Risk | Operating Lease Liability | Buildings
Lessee, Lease, Description [Line Items]
Percentage	30.80%
Operating Lease, Concentration Risk | Operating Lease Liability | Equipment
Lessee, Lease, Description [Line Items]
Percentage	16.30%
Operating Lease, Concentration Risk | Operating Lease Liability | Land
Lessee, Lease, Description [Line Items]
Percentage	9.40%
Operating Lease, Concentration Risk | Operating Lease Liability | Other
Lessee, Lease, Description [Line Items]
Percentage	8.30%
Polymer
Lessee, Lease, Description [Line Items]
Operating Lease Liability	$ 26,005
Polymer | Railcars
Lessee, Lease, Description [Line Items]
Operating Lease Liability	1,703
Polymer | Buildings
Lessee, Lease, Description [Line Items]
Operating Lease Liability	13,986
Polymer | Equipment
Lessee, Lease, Description [Line Items]
Operating Lease Liability	2,582
Polymer | Land
Lessee, Lease, Description [Line Items]
Operating Lease Liability	7,083
Polymer | Other
Lessee, Lease, Description [Line Items]
Operating Lease Liability	651
Chemical
Lessee, Lease, Description [Line Items]
Operating Lease Liability	49,453
Chemical | Railcars
Lessee, Lease, Description [Line Items]
Operating Lease Liability	24,800
Chemical | Buildings
Lessee, Lease, Description [Line Items]
Operating Lease Liability	9,263
Chemical | Equipment
Lessee, Lease, Description [Line Items]
Operating Lease Liability	9,750
Chemical | Land
Lessee, Lease, Description [Line Items]
Operating Lease Liability	43
Chemical | Other
Lessee, Lease, Description [Line Items]
Operating Lease Liability	$ 5,597

Commitments and Contingencies_4

Commitments and Contingencies - Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019
Commitments and Contingencies Disclosure [Abstract]
July 1, 2019 through December 31, 2019	$ 11,641
2020	20,180
2021	15,538
2022	10,301
2023	7,040
Thereafter	17,776
Total undiscounted operating lease liabilities	82,476
Present value discount	(7,476)
Foreign currency and other	458
Total discounted operating lease liabilities	$ 75,458	$ 70,900

Commitments and Contingencies_5

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_6

Commitments and Contingencies - Changes in Aggregate Carrying Amount of Asset Retirement Obligation Liability (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning balance	$ 5,703	$ 5,712
Accretion expense	177	168
Obligations settled	(206)	(40)
Foreign currency translation	(15)	(141)
Ending balance	$ 5,659	$ 5,699

Employee Benefits - Components

Employee Benefits - Components of Net Periodic Benefit Cost Related to U.S Pension Benefits (Details) - Pension Plan - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 557	$ 906	$ 1,310	$ 1,793
Interest cost	1,946	1,795	3,884	3,590
Expected return on plan assets	(2,513)	(2,453)	(5,030)	(4,905)
Amortization of prior service cost	0	(1,235)	0	0
Amortization of net actuarial loss	990	2,452	1,835	2,452
Net periodic benefit cost	980	1,465	1,999	2,930
Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	389	632	778	1,283
Interest cost	516	527	1,049	1,068
Expected return on plan assets	(611)	(684)	(1,244)	(1,384)
Amortization of prior service cost	8	4	17	7
Amortization of net actuarial loss	104	163	210	331
Net periodic benefit cost	$ 406	$ 642	$ 810	$ 1,305

Employee Benefits - Additional

Employee Benefits - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Retirement Benefits [Abstract]
Employer contributions	$ 6.5	$ 6.6
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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 90	$ 124	$ 180	$ 279
Interest cost	240	344	480	679
Amortization of prior service cost	(438)	194	(875)	382
Amortization of net actuarial loss	175	0	350	0
Net periodic benefit cost	$ 67	$ 662	$ 135	$ 1,340

Industry Segments and Foreign_3

Industry Segments and Foreign Operations - Additional Information (Details) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)segment	Jun. 30, 2018USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment					2
Capital expenditures					$ 49,985	$ 42,223
Gain on insurance proceeds	$ 7,500			$ 0	18,600	0
Hurricane
Segment Reporting Information [Line Items]
Production downtime, costs incurred					12,800
Proceeds from insurance reimbursement					17,500
Gain on insurance proceeds		$ 18,600	$ 1,100
Insurance money spent	5,600				5,600
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					29,900	19,500
Gain on insurance proceeds	0			0	0	0
Chemical
Segment Reporting Information [Line Items]
Capital expenditures					20,100	22,700
Gain on insurance proceeds	$ 7,500			$ 0	$ 18,600	$ 0

Industry Segments and Foreign_4

Industry Segments and Foreign Operations - Sales Revenue by Product Groups (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Revenue	$ 495,280	$ 538,395	$ 951,691	$ 1,040,787
Cost of goods sold	366,078	367,686	715,487	723,000
Gross profit	129,202	170,709	236,204	317,787
Operating expenses:
Research and development	10,173	10,474	20,724	21,271
Selling, general, and administrative	38,457	41,975	79,351	80,698
Depreciation and amortization	31,904	35,140	63,426	70,516
Gain on insurance proceeds	(7,500)	0	(18,600)	0
Loss on disposal of fixed assets	0	333	0	360
Operating income	56,168	82,787	91,303	144,942
Other expense	(417)	(1,107)	(676)	(2,220)
Gain (loss) on extinguishment of debt	0	(72,330)	210	(79,921)
Earnings of unconsolidated joint venture	140	120	261	257
Interest expense, net	(19,339)	(25,416)	(38,280)	(54,692)
Income (loss) before income taxes	36,552	(15,946)	52,818	8,366
Polymer
Segment Reporting Information [Line Items]
Revenue	297,861	338,150	558,916	627,221
Cost of goods sold	218,995	228,304	426,164	435,944
Gross profit	78,866	109,846	132,752	191,277
Operating expenses:
Research and development	7,338	7,386	14,905	14,833
Selling, general, and administrative	22,206	24,461	45,304	47,981
Depreciation and amortization	14,343	17,598	28,314	35,360
Gain on insurance proceeds	0	0	0	0
Loss on disposal of fixed assets	0	170	0	72
Operating income	34,979	60,231	44,229	93,031
Chemical
Segment Reporting Information [Line Items]
Revenue	197,419	200,245	392,775	413,566
Cost of goods sold	147,083	139,382	289,323	287,056
Gross profit	50,336	60,863	103,452	126,510
Operating expenses:
Research and development	2,835	3,088	5,819	6,438
Selling, general, and administrative	16,251	17,514	34,047	32,717
Depreciation and amortization	17,561	17,542	35,112	35,156
Gain on insurance proceeds	(7,500)	0	(18,600)	0
Loss on disposal of fixed assets	0	163	0	288
Operating income	$ 21,189	$ 22,556	$ 47,074	$ 51,911

Industry Segments and Foreign_5

Industry Segments and Foreign Operations - Long-lived Assets Including Goodwill and Total Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Property, plant, and equipment, net	$ 944,740	$ 941,476
Investment in unconsolidated joint venture	11,852	12,070
Goodwill	772,939	772,886
Total assets	3,008,705	2,894,704
Polymer
Segment Reporting Information [Line Items]
Property, plant, and equipment, net	545,998	543,086
Investment in unconsolidated joint venture	11,852	12,070
Goodwill	0	0
Total assets	1,215,208	1,160,029
Chemical
Segment Reporting Information [Line Items]
Property, plant, and equipment, net	398,742	398,390
Investment in unconsolidated joint venture	0	0
Goodwill	772,939	772,886
Total assets	$ 1,793,497	$ 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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	$ 495,280	$ 538,395	$ 951,691	$ 1,040,787
United States
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	189,444	191,491	357,769	376,544
Germany
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	41,383	52,515	82,275	100,593
All other countries
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	264,453	294,389	511,647	563,650
Polymer
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	297,861	338,150	558,916	627,221
Polymer | United States
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	104,178	110,260	192,146	213,989
Polymer | Germany
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	29,086	39,665	54,997	71,507
Polymer | All other countries
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	164,597	188,225	311,773	341,725
Chemical
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	197,419	200,245	392,775	413,566
Chemical | United States
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	85,266	81,231	165,623	162,555
Chemical | Germany
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	12,297	12,850	27,278	29,086
Chemical | All other countries
Segment Reporting Revenue Reconciling Item [Line Items]
Revenue	$ 99,856	$ 106,164	$ 199,874	$ 221,925

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Variable Interest Entity, Primary Beneficiary | KFPC
Related Party Transaction [Line Items]
Outstanding payables	$ 0.7		$ 0.7		$ 0.8
Variable interest entity, ownership percentage			50.00%
Purchases from related party	$ 13.6	$ 7.4	$ 25.4	$ 13.1
Styrenic Block Copolymer Joint Venture
Related Party Transaction [Line Items]
Percentage of equity investment	50.00%		50.00%
Outstanding payables	$ 16.5		$ 16.5		$ 20.1
Related party liability	$ 8.2	$ 7.2	$ 16.4	$ 16.3

Variable Interest Entity - Addi

Variable Interest Entity - Additional Information (Details)	6 Months Ended
	Jun. 30, 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	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Noncontrolling Interest [Line Items]
Cash and cash equivalents	$ 63,854		$ 85,891
Other current assets	19,262		29,980
Property, plant, and equipment, net	944,740		941,476
Intangible assets	345,486		362,038
Long-term operating lease assets, net	72,520	$ 70,900
Other long-term assets	30,993		29,074
Total assets	3,008,705		2,894,704
Current portion of long-term debt	110,105		45,321
Current liabilities	434,468		349,087
Long-term debt	1,424,323		1,487,298
Long-term operating lease liabilities	55,888
Total liabilities	2,209,275		2,147,105
KFPC
Noncontrolling Interest [Line Items]
Cash and cash equivalents	5,204		6,640
Other current assets	18,035		18,363
Property, plant, and equipment, net	154,529		159,893
Intangible assets	8,178		8,590
Long-term operating lease assets, net	6,953
Other long-term assets	8,939		11,838
Total assets	201,838		205,324
Current portion of long-term debt	109,931		45,152
Current liabilities	14,704		14,996
Long-term debt	0		80,255
Long-term operating lease liabilities	6,677
Total liabilities	$ 131,312		$ 140,403