Trinseo (TSE) 10-Q 3 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 01, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Entity Registrant Name	Trinseo S.A.
Entity Central Index Key	1,519,061
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		43,772,953

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 399,928	$ 465,114
Accounts receivable, net of allowance for doubtful accounts (June 30, 2017 -- $3,670; December 31, 2016 -- $3,138)	723,264	564,428
Inventories	473,936	385,345
Other current assets	14,366	17,999
Total current assets	1,611,494	1,432,886
Investments in unconsolidated affiliates	153,077	191,418
Property, plant and equipment, net of accumulated depreciation (June 30, 2017 -- $479,983; December 31, 2016 -- $420,343)	556,481	513,757
Other assets
Goodwill	31,990	29,485
Other intangible assets, net	178,270	177,345
Deferred income tax assets-noncurrent	37,095	40,187
Deferred charges and other assets	32,847	24,412
Total other assets	280,202	271,429
Total assets	2,601,254	2,409,490
Current liabilities
Short-term borrowings and current portion of long-term debt	5,000	5,000
Accounts payable	394,033	378,029
Income taxes payable	34,066	23,784
Accrued expenses and other current liabilities	127,322	135,357
Total current liabilities	560,421	542,170
Noncurrent liabilities
Long-term debt, net of unamortized deferred financing fees	1,192,844	1,160,369
Deferred income tax liabilities - noncurrent	30,325	24,844
Other noncurrent obligations	257,391	237,054
Total noncurrent liabilities	1,480,560	1,422,267
Commitments and contingencies (Note 8)
Shareholders' equity
Ordinary shares, $0.01 nominal value, 50,000,000 shares authorized (June 30, 2017: 48,778 shares issued and 43,733 shares outstanding; December 31, 2016, 48,778 shares issued and 44,301 shares outstanding)	488	488
Additional paid-in-capital	575,011	573,662
Treasury shares, at cost (June 30, 2017: 5,045 shares; December 31, 2016: 4,477 shares)	(258,913)	(217,483)
Retained earnings	406,270	258,540
Accumulated other comprehensive loss	(162,583)	(170,154)
Total shareholders' equity	560,273	445,053
Total liabilities and shareholders' equity	$ 2,601,254	$ 2,409,490

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Consolidated Balance Sheets
Allowance for doubtful accounts	$ 3,670	$ 3,138
Accumulated depreciation	$ 479,983	$ 420,343
Ordinary shares, nominal value	$ 0.01	$ 0.01
Ordinary shares, shares authorized	50,000,000,000	50,000,000,000
Ordinary shares, shares issued	48,778,000	48,778,000
Ordinary shares, shares outstanding	43,733,000	44,301,000
Treasury stock, shares	5,045,000	4,477,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Consolidated Statements of Operations
Net sales	$ 1,145,199	$ 969,694	$ 2,249,689	$ 1,863,778
Cost of sales	1,019,992	799,954	1,926,680	1,554,366
Gross profit	125,207	169,740	323,009	309,412
Selling, general and administrative expenses	55,384	52,249	115,820	106,735
Equity in earnings of unconsolidated affiliates	29,927	38,602	49,222	73,628
Operating income	99,750	156,093	256,411	276,305
Interest expense, net	18,719	18,814	36,919	37,710
Other expense (income), net	2,072	12,875	(6,061)	15,544
Income before income taxes	78,959	124,404	225,553	223,051
Provision for income taxes	18,800	28,600	48,100	50,500
Net income (loss)	$ 60,159	$ 95,804	$ 177,453	$ 172,551
Weighted average shares- basic	43,902	46,952	43,979	47,803
Net income per share- basic	$ 1.37	$ 2.04	$ 4.03	$ 3.61
Weighted average shares- diluted	44,995	47,857	45,165	48,554
Net income per share- diluted	$ 1.34	$ 2	$ 3.93	$ 3.55
Dividends per share	$ 0.36	$ 0.30	$ 0.66	$ 0.30

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Consolidated Statements of Comprehensive Income (Loss)
Net income	$ 60,159	$ 95,804	$ 177,453	$ 172,551
Other comprehensive income (loss), net of tax (tax amounts shown in millions below for the three and six months ended June 30, 2017 and 2016, respectively):
Cumulative translation adjustments	18,974	(11,005)	23,175	2,418
Net gain (loss) on foreign exchange cash flow hedges	(12,966)	6,029	(17,776)	(1,396)
Pension and other postretirement benefit plans:
Net loss arising during period (net of tax of: 2017 -- $0 and $0; 2016 -- $0 and ($0.5))				(800)
Amounts reclassified from accumulated other comprehensive income (loss)	796	539	2,172	1,079
Total other comprehensive income, net of tax	6,804	(4,437)	7,571	1,301
Comprehensive income	$ 66,963	$ 91,367	$ 185,024	$ 173,852

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Consolidated Statements of Comprehensive Income (Loss)
Net loss arising during period, tax (benefit) expense	$ 0	$ 0	$ 0	$ (0.5)

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Ordinary Shares	Additional Paid-In Capital [Member]	Treasury Shares	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings (Accumulated Deficit).	Total
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of new accounting standard		$ 915			$ (915)
Balance at Dec. 31, 2015	$ 488	556,532		$ (149,717)	(18,289)	$ 389,014
Balance, shares at Dec. 31, 2015	48,778
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income					172,551	172,551
Other comprehensive income				1,301		1,301
Stock-based compensation		8,143	$ 686			8,829
Stock-based compensation, shares from treasury stock	16		(16)
Purchase of treasury shares			$ (94,362)			(94,362)
Purchase of treasury shares, shares	(2,391)		2,391
Dividends on ordinary shares					(13,920)	(13,920)
Balance at Jun. 30, 2016	$ 488	565,590	$ (93,676)	(148,416)	139,427	463,413
Balance, shares at Jun. 30, 2016	46,403		2,375
Balance at Mar. 31, 2016				(143,979)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income						95,804
Other comprehensive income						(4,437)
Balance at Jun. 30, 2016	$ 488	565,590	$ (93,676)	(148,416)	139,427	463,413
Balance, shares at Jun. 30, 2016	46,403		2,375
Balance at Dec. 31, 2016	$ 488	573,662	$ (217,483)	(170,154)	258,540	$ 445,053
Balance, shares at Dec. 31, 2016	44,301		4,477			44,301
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income					177,453	$ 177,453
Other comprehensive income				7,571		7,571
Stock-based compensation		1,349	$ 11,624			12,973
Stock-based compensation, shares from treasury stock	327		(327)
Purchase of treasury shares			$ (53,054)			(53,054)
Purchase of treasury shares, shares	(895)		895
Dividends on ordinary shares					(29,723)	(29,723)
Balance at Jun. 30, 2017	$ 488	575,011	$ (258,913)	(162,583)	406,270	$ 560,273
Balance, shares at Jun. 30, 2017	43,733		5,045			43,733
Balance at Mar. 31, 2017				(169,387)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income						$ 60,159
Other comprehensive income						6,804
Balance at Jun. 30, 2017	$ 488	$ 575,011	$ (258,913)	$ (162,583)	$ 406,270	$ 560,273
Balance, shares at Jun. 30, 2017	43,733		5,045			43,733

Consolidate Statements of Share

Consolidate Statements of Shareholders' Equity (Parenthetical)) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Consolidated Statement of Stockholders' Equity
Dividends per share	$ 0.36	$ 0.30	$ 0.66	$ 0.30

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities
Net income	$ 177,453	$ 172,551
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	51,044	47,973
Amortization of deferred financing fees and issuance discount	2,719	3,134
Deferred income tax	8,862	10,684
Stock-based compensation expense	7,687	8,816
Earnings of unconsolidated affiliates, net of dividends	4,709	(12,287)
Unrealized net losses on foreign exchange forward contracts	5,011	3,965
Loss (gain) on sale of businesses and other assets	(10,275)	12,915
Changes in assets and liabilities
Accounts receivable	(137,696)	(52,954)
Inventories	(66,802)	(16,685)
Accounts payable and other current liabilities	(9,779)	(1,098)
Income taxes payable	9,089	(1,005)
Other assets, net	(6,215)	(7,060)
Other liabilities, net	781	10,758
Cash provided by (used in) operating activities	36,588	179,707
Cash flows from investing activities
Capital expenditures	(74,286)	(53,153)
Proceeds from the sale of businesses and other assets	43,680	129
Distributions from unconsolidated affiliates	857	4,809
Cash provided by (used in) investing activities	(29,749)	(48,215)
Cash flows from financing activities
Short term borrowings, net	(126)	(126)
Repayments of term loans	(2,500)	(2,500)
Purchase of treasury shares	(56,415)	(94,362)
Dividends paid	(26,473)
Proceeds from exercise of option awards	5,984	87
Withholding taxes paid on restricted share units	(288)	(74)
Cash used in financing activities	(79,818)	(96,975)
Effect of exchange rates on cash	7,793	(565)
Net change in cash and cash equivalents	(65,186)	33,952
Cash and cash equivalents-beginning of period	465,114	431,261
Cash and cash equivalents-end of period	$ 399,928	$ 465,213

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2017
Basis of Presentation.
Basis of Presentation	NOTE 1—BASIS OF PRESENTATION The unaudited interim condensed consolidated financial statements of Trinseo S.A. and its subsidiaries (the “Company”) as of and for the periods ended June 30, 2017 and 2016 were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and reflect all adjustments, consisting only of normal recurring adjustments, which, in the opinion of management, are considered necessary for the fair statement of the results for the periods presented. Because they cover interim periods, the statements and related notes to the financial statements do not include all disclosures normally provided in annual financial statements and, therefore, these statements should be read in conjunction with the 2016 audited consolidated financial statements included within the Company’s Annual Report on Form 10-K (“Annual Report”) filed with the Securities and Exchange Commission (“SEC”) on March 1, 2017. The December 31, 2016 condensed consolidated balance sheet data presented herein was derived from the Company’s December 31, 2016 audited consolidated financial statements, but does not include all disclosures required by GAAP for annual periods. Certain prior year amounts have been reclassified to conform to the current period presentation. These reclassifications did not have a material impact on the Company’s financial position or results. Refer to Note 12 for further information.

Recent Accounting Guidance

Recent Accounting Guidance	6 Months Ended
	Jun. 30, 2017
Recent Accounting Guidance
Recent Accounting Guidance	NOTE 2—RECENT ACCOUNTING GUIDANCE In May 2014, the Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board (“IASB”) jointly issued guidance which clarifies the principles for recognizing revenue and develops a common revenue standard for GAAP and International Financial Reporting Standards (“IFRS”). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additionally, the FASB has issued certain clarifying updates to this guidance, which the Company will consider as part of our adoption, which will be effective as of January 1, 2018. The Company has completed its scoping assessment for the adoption of this guidance by conducting surveys with relevant stakeholders in the business, including commercial and finance leadership, reviewing a representative sample of revenue arrangements across all businesses, and identifying a set of applicable qualitative revenue recognition changes related to the new standard update. In completing this phase, the Company has concluded that it will adopt this new guidance applying the modified retrospective approach. The Company remains in the process of establishing and documenting key accounting policies, assessing new disclosure requirements, and evaluating impacts on business process, information technology, and controls, and determining the quantitative impact resulting from the adoption of this new standard. In July 2015, the FASB issued guidance which simplifies the subsequent measurement of inventory by replacing the lower of cost or market test with a lower of cost or net realizable value (“NRV”) test. NRV is calculated as the estimated selling price less reasonably predictable costs of completion, disposal and transportation. The Company adopted this guidance effective January 1, 2017, and the adoption did not have a material impact to the Company’s financial position or results of operations. In February 2016, the FASB issued guidance related to leases that outlines a comprehensive lease accounting model and supersedes the current lease guidance. The new guidance requires lessees to recognize on the consolidated balance sheets lease liabilities and corresponding right-of-use assets for all leases with terms of greater than 12 months. It also changes the definition of a lease and expands the disclosure requirements of lease arrangements. This new guidance is effective for public companies for annual and interim periods beginning after December 15, 2018, with early adoption permitted. The new guidance must be adopted using a modified retrospective transition, and provides for certain practical expedients. The Company is in the process of assessing the impact on its consolidated financial statements from the adoption of the new guidance. However, as we are the lessee under various real estate, railcar, and other equipment leases, which we currently account for as operating leases, we anticipate an increase in the recognition of right-of-use assets and lease liabilities as a result of this adoption . In August 2016, the FASB issued guidance that aims to eliminate diversity in practice for how certain cash receipts and payments are presented and classified in the consolidated statements of cash flows. This guidance is effective for public companies for annual and interim periods beginning after December 15, 2017, with early adoption permitted. This guidance must be adopted using a retrospective approach, and provides for certain practical expedients. Additionally, the FASB has issued further guidance related to the presentation of restricted cash on the consolidated statements of cash flows. While the Company continues to assess the timing and related impact of adopting this guidance on its consolidated statement of cash flows, the most significant expected impact on the Company’s financial statements will be the requirement to classify debt prepayment or extinguishment costs as financing cash outflows, as opposed to the Company’s prior classification of these types of costs within operating activities. In January 2017, the FASB issued guidance that revises the definition of a business in order to assist in determining whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. Under the new guidance, fewer transactions are expected to be accounted for as business combinations. The Company adopted this guidance effective January 1, 2017. We expect this adoption could affect conclusions reached for future transactions in several areas, including acquisitions and disposals. In January 2017, the FASB issued guidance to simplify the accounting for goodwill impairment by removing Step 2 of the test, which requires a hypothetical purchase price allocation. As a result, a goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. The Company adopted this guidance effective January 1, 2017, which did not have a material impact to the Company’s financial position or results of operations. In March 2017, the FASB issued guidance that requires employers to present the service cost component of net periodic benefit cost in the same statement of operations line item as other employee compensation costs arising from services rendered during the period. The other components of net benefit cost are to be presented outside of any subtotal of operating income. This presentation amendment is relevant to the Company and will be applied on a retrospective basis. This guidance is effective for fiscal years and interim periods beginning after December 15, 2017, and early adoption is permitted. The Company is currently assessing the impact of adopting this guidance on its results of operations.

Investments in Unconsolidated A

Investments in Unconsolidated Affiliates	6 Months Ended
	Jun. 30, 2017
Investments in Unconsolidated Affiliates
Investments in Unconsolidated Affiliates	NOTE 3—INVESTMENTS IN UNCONSOLIDATED AFFILIATES During the six months ended June 30, 2017, the Company had two joint ventures : Americas Styrenics LLC (“Americas Styrenics”, a styrene and polystyrene joint venture with Chevron Phillips Chemical Company LP) and Sumika Styron Polycarbonate Limited (“Sumika Styron Polycarbonate”, a polycarbonate joint venture with Sumitomo Chemical Company Limited). Investments held in the unconsolidated affiliates are accounted for by the equity method. The results of Americas Styrenics are included within its own reporting segment, and the results of Sumika Styron Polycarbonate were included within the Basic Plastics reporting segment until the Company sold its 50% share of the entity in January 2017. Refer to the discussion below for further information about the sale of the Company’s share in Sumika Styron Polycarbonate during the first quarter of 2017. Both of the unconsolidated affiliates are privately held companies; therefore, quoted market prices for their stock are not available. The summarized financial information of the Company’s unconsolidated affiliates is shown below. This table includes summarized financial information for Sumika Styron Polycarbonate through the date of sale in January 2017. Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Sales $ 476,882 $ 405,351 $ 910,828 $ 781,603 Gross profit $ 65,170 $ 87,867 $ 85,758 $ 156,271 Net income $ 54,121 $ 71,015 $ 60,449 $ 123,812 Americas Styrenics As of June 30, 2017 and December 31, 2016, respectively, the Company’s investment in Americas Styrenics was $153.1 million and $149.7 million, which was $52.3 million and $71.2 million less than the Company’s 50% share of the underlying net assets of Americas Styrenics . This amount represents the difference between the book value of assets contributed to the joint venture at the time of formation (May 1, 2008) and the Company’s 50% share of the total recorded value of the joint venture’s assets and certain adjustments to conform with the Company’s accounting policies. This difference is being amortized over a weighted average remaining useful life of the contributed assets of approximately 3.3 years as of June 30, 2017. The Company received dividends from Americas Styrenics of $37.5 million and $45.0 million during the three and six months ended June 30, 2017, respectively, compared to $30.0 million and $60.0 million during the three and six months ended June 30, 2016, respectively. Sumika Styron Polycarbonate On January 31, 2017, the Company completed the sale of its 50% share in Sumika Styron Polycarbonate to Sumitomo Chemical Company Limited for total sales proceeds of approximately $42.1 million. As a result, the Company recorded a gain on sale of $9.3 million during the six months ended June 30, 2017, which was included within “Other expense (income), net” in the condensed consolidated statement of operations and was allocated entirely to the Basic Plastics segment. In addition, the parties have entered into a long-term agreement to continue sourcing polycarbonate resin from Sumika Styron Polycarbonate to the Company’s Performance Plastics segment. As of December 31, 2016, the Company’s investment in Sumika Styron Polycarbonate was $41.8 million. Due to the sale in January 2017, the Company no longer has an investment in Sumika Styron Polycarbonate as of June 30, 2017. The Company received dividends from Sumika Styron Polycarbonate of zero and $9.8 million during the three and six months ended June 30, 2017, respectively, compared to zero and $6.2 million during the three and six months ended June 30, 2016, respectively. The dividend received during the six months ended June 30, 2017 from Sumika Styron Polycarbonate related to the Company’s proportionate share of earnings for the year ended December 31, 2016.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2017
Inventories
Inventories	NOTE 4—INVENTORIES Inventories consisted of the following: June 30, December 31, 2017 2016 Finished goods $ 242,824 $ 187,577 Raw materials and semi-finished goods 199,324 168,804 Supplies 31,788 28,964 Total $ 473,936 $ 385,345

Debt

Debt	6 Months Ended
	Jun. 30, 2017
Debt
Debt	NOTE 5—DEBT Refer to the Annual Report for definitions of capitalized terms not included herein and further background on the Company’s debt structure discussed below. The Company was in compliance with all debt related covenants as of June 30, 2017 and December 31, 2016. As of June 30, 2017 and December 31, 2016, debt consisted of the following: June 30, 2017 December 31, 2016 Interest Rate as of June 30, 2017 Maturity Carrying Unamortized (1) Total Debt, Carrying Unamortized (1) Total Debt, Senior Credit Facility 2020 Revolving Facility (2) Various May 2020 $ — $ — $ — $ — $ — $ — 2021 Term Loan B (3) 4.476% November 2021 489,136 (8,292) 480,844 491,545 (9,159) 482,386 2022 Senior Notes USD Notes 6.750% May 2022 300,000 (5,277) 294,723 300,000 (5,726) 294,274 Euro Notes 6.375% May 2022 427,301 (6,590) 420,711 394,275 (7,157) 387,118 Accounts Receivable Securitization Facility (4) Various May 2019 — — — — — — Other indebtedness Various Various 1,566 — 1,566 1,591 — 1,591 Total debt $ 1,218,003 $ (20,159) $ 1,197,844 $ 1,187,411 $ (22,042) $ 1,165,369 Less: current portion (5,000) (5,000) Total long-term debt, net of unamortized deferred financing fees $ 1,192,844 $ 1,160,369 (1) This caption does not include deferred financing fees related to the Company’s revolving facilities, which are included within “Deferred charges and other assets” on the condensed consolidated balance sheets. (2) The Company had $308.1 million (net of $16.9 million outstanding letters of credit) of funds available for borrowing under this facility as of June 30, 2017. Additionally, the Borrowers were required to pay a quarterly commitment fee in respect of any unused commitments under this facility equal to 0.375% per annum. (3) Carrying amounts presented above are net of an original issue discount, which was 0.25% of the original $500.0 million facility. This facility bears an interest rate of LIBOR plus 3.25%, subject to a 1.00% LIBOR floor. As of June 30, 2017, $5.0 million of the scheduled future payments related to this facility were classified as current debt on the Company’s condensed consolidated balance sheet. (4) This facility has a borrowing capacity of $200.0 million. As of June 30, 2017, the Company had approximately $151.3 million of accounts receivable available to support this facility, based on the pool of eligible accounts receivable. In regards to outstanding borrowings, fixed interest charges are 2.6% plus variable commercial paper rates, while for available, but undrawn commitments, fixed interest charges are 1.4%.

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2017
Derivative Instruments [Abstract]
Derivative Instruments	NOTE 6—DERIVATIVE INSTRUMENTS The Company’s ongoing business operations expose it to various risks, including fluctuating foreign exchange rates. To manage these risks, the Company periodically enters into derivative financial instruments such as foreign exchange forward contracts. The Company does not hold or enter into financial instruments for trading or speculative purposes. All derivatives are recorded on the condensed consolidated balance sheets at fair value. Foreign Exchange Forward Contracts Certain subsidiaries have assets and liabilities denominated in currencies other than their respective functional currencies, which creates foreign exchange risk. The Company’s principal strategy in managing its exposure to changes in foreign currency exchange rates is to naturally hedge the foreign currency-denominated liabilities on our balance sheet against corresponding assets of the same currency such that any changes in liabilities due to fluctuations in exchange rates are offset by changes in their corresponding foreign currency assets. In order to further reduce its exposure, the Company also uses foreign exchange forward contracts to economically hedge the impact of the variability in exchange rates on our assets and liabilities denominated in certain foreign currencies. These derivative contracts are not designated for hedge accounting treatment. As of June 30, 2017, the Company had open foreign exchange forward contracts with a notional U.S. dollar equivalent absolute value of $302.1 million. The following table displays the notional amounts of the most significant net foreign exchange hedge positions outstanding as of June 30, 2017. June 30, Buy / (Sell) 2017 Euro $ (146,217) Chinese Yuan $ (74,647) Indonesian Rupiah $ (33,617) Swiss Franc $ 18,686 Japanese Yen $ (7,706) Foreign Exchange Cash Flow Hedges The Company also enters into forward contracts with the objective of managing the currency risk associated with forecasted U.S. dollar-denominated raw materials purchases by one of its subsidiaries whose functional currency is the euro. By entering into these forward contracts, which are designated as cash flow hedges, the Company buys a designated amount of U.S. dollars and sells euros at the prevailing market rate to mitigate the risk associated with the fluctuations in the euro-to-U.S. dollar foreign currency exchange rates. The qualifying hedge contracts are marked-to-market at each reporting date and any unrealized gains or losses are included in accumulated other comprehensive income/loss (“AOCI”) to the extent effective, and reclassified to cost of sales in the period during which the transaction affects earnings or it becomes probable that the forecasted transaction will not occur. Open foreign exchange cash flow hedges as of June 30, 2017 have maturities occurring over a period of 18 months, and have a net notional U.S. dollar equivalent of $255.0 million. Net Investment Hedge The Company’s outstanding debt includes €375.0 million of Euro Notes (refer to Note 5 for details) . As of June 30, 2017, the Company has designated a portion ( €280 million) of the principal amount of these Euro Notes as a hedge of the foreign currency exposure of the Issuers’ net investment in certain European subsidiaries. As this debt was deemed to be a highly effective hedge, changes in the Euro Notes’ carrying value resulting from fluctuations in the euro exchange rate were recorded as cumulative foreign currency translation loss of $10.2 million within AOCI as of June 30, 2017. Summary of Derivative Instruments Information regarding changes in the fair value of the Company’s derivative instruments, net of tax, including those not designated for hedge accounting treatment, is as follows: Gain (Loss) Recognized in Gain (Loss) Recognized in AOCI on Balance Sheet Statement of Operations Three Months Ended June 30, Statement of Operations 2017 2016 2017 2016 Classification Designated as Cash Flow Hedges Foreign exchange cash flow hedges $ (12,966) $ 6,029 $ 1,009 $ (735) Cost of sales Total $ (12,966) $ 6,029 $ 1,009 $ (735) Net Investment Hedges Euro Notes $ (19,670) $ 3,798 $ — $ — Other expense (income), net Total $ (19,670) $ 3,798 $ — $ — Not Designated as Cash Flow Hedges Foreign exchange forward contracts $ — $ — $ (8,835) $ (2,138) Other expense (income), net Total $ — $ — $ (8,835) $ (2,138) Gain (Loss) Recognized in Gain (Loss) Recognized in AOCI on Balance Sheet Statement of Operations Six Months Ended June 30, Statement of Operations 2017 2016 2017 2016 Classification Designated as Cash Flow Hedges Foreign exchange cash flow hedges $ (17,776) $ (1,396) $ 3,460 $ 370 Cost of sales Total $ (17,776) $ (1,396) $ 3,460 $ 370 Net Investment Hedges Euro Notes $ (24,660) $ (2,487) $ — $ — Other expense (income), net Total $ (24,660) $ (2,487) $ — $ — Not Designated as Cash Flow Hedges Foreign exchange forward contracts $ — $ — $ (10,510) $ 995 Other expense (income), net Total $ — $ — $ (10,510) $ 995 The Company recorded losses of $8.8 million and $10.5 million during the three and six months ended June 30, 2017, respectively, and losses of $2.1 million and gains of $1.0 million during the three and six months ended June 30, 2016, respectively, from settlements and changes in the fair value of outstanding forward contracts (not designated as hedges) . The gains and losses from these forward contracts offset net foreign exchange transaction gains of $7.3 million and $7.9 million during the three and six months ended June 30, 2017, respectively, and gains of $2.3 million and losses of $2.6 million during the three and six months ended June 30, 2016, respectively, which resulted from the remeasurement of the Company’s foreign currency denominated assets and liabilities. The cash settlements of these foreign exchange forward contracts are included within operating activities in the condensed consolidated statement of cash flows. As of June 30, 2017, the Company has no ineffectiveness related to its foreign exchange cash flow hedges. Further, the Company expects to reclassify in the next twelve months an approximate $4.7 million net loss from AOCI into earnings related to the Company’s outstanding cash flow hedges as of June 30, 2017 based on current foreign exchange rates. The following table summarizes the net unrealized gains and losses and balance sheet classification of outstanding derivatives recorded in the condensed consolidated balance sheets: June 30, 2017 December 31, 2016 Foreign Foreign Foreign Foreign Forward Cash Flow Forward Cash Flow Balance Sheet Classification Contracts Hedges Total Contracts Hedges Total Asset Derivatives: Accounts receivable, net of allowance $ 514 $ — $ 514 $ 1,664 $ 11,018 $ 12,682 Deferred charges and other assets — — — — — — Total asset derivatives $ 514 $ — $ 514 $ 1,664 $ 11,018 $ 12,682 Liability Derivatives: Accounts payable $ 4,830 $ 4,745 $ 9,575 $ 511 $ — $ 511 Other noncurrent obligations — 2,069 2,069 — — — Total liability derivatives $ 4,830 $ 6,814 $ 11,644 $ 511 $ — $ 511 Forward contracts are entered into with a limited number of counterparties, each of which allows for net settlement of all contracts through a single payment in a single currency in the event of a default on or termination of any one contract. As such, in accordance with the Company’s accounting policy, we record these foreign exchange forward contracts on a net basis by counterparty within the condensed consolidated balance sheet. Information regarding the gross amounts of the Company’s derivative instruments and the amounts offset in the condensed consolidated balance sheets is as follows: Gross Amounts Gross Amounts Net Amounts Recognized in the Offset in the Presented in the Balance Sheet Balance Sheet Balance Sheet Balance at June 30, 2017 Derivative assets $ 1,289 $ (775) $ 514 Derivative liabilities 12,419 (775) 11,644 Balance at December 31, 2016 Derivative assets $ 23,401 $ (10,719) $ 12,682 Derivative liabilities 11,230 (10,719) 511 Refer to Notes 7 and 14 of the condensed consolidated financial statements for further information regarding the fair value of the Company’s derivative instruments and the related changes in AOCI .

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2017
Fair Value Measurements
Fair Value Measurements	NOTE 7—FAIR VALUE MEASUREMENTS Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities measured at fair value are classified using the following hierarchy, which is based upon the transparency of inputs to the valuation as of the measurement date. Level 1—Valuation is based upon quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2—Valuation is based upon quoted prices for similar assets and liabilities in active markets, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3—Valuation is based upon other unobservable inputs that are significant to the fair value measurement. The following table summarizes the basis used to measure certain assets and liabilities at fair value on a recurring basis in the condensed consolidated balance sheets as of June 30, 2017 and December 31, 2016. June 30, 2017 Quoted Prices in Active Markets for Identical Items Significant Other Observable Inputs Significant Unobservable Inputs Assets (Liabilities) at Fair Value (Level 1) (Level 2) (Level 3) Total Foreign exchange forward contracts—Assets $ — $ 514 $ — $ 514 Foreign exchange forward contracts—(Liabilities) — (4,830) — (4,830) Foreign exchange cash flow hedges—(Liabilities) — (6,814) — (6,814) Total fair value $ — $ (11,130) $ — $ (11,130) December 31, 2016 Quoted Prices in Active Markets for Identical Items Significant Other Observable Inputs Significant Unobservable Inputs Assets (Liabilities) at Fair Value (Level 1) (Level 2) (Level 3) Total Foreign exchange forward contracts—Assets $ — $ 1,664 $ — $ 1,664 Foreign exchange forward contracts—(Liabilities) — (511) — (511) Foreign exchange cash flow hedges—Assets — 11,018 — 11,018 Total fair value $ — $ 12,171 $ — $ 12,171 The Company uses an income approach to value its derivative instruments, utilizing discounted cash flow techniques, considering the terms of the contract and observable market information available as of the reporting date. Significant inputs to the valuation for foreign exchange forward contracts and foreign exchange cash flow hedges are obtained from broker quotations or from listed or over-the-counter market data, and are classified as Level 2 in the fair value hierarchy. Fair Value of Debt Instruments The following table presents the estimated fair value of the Company’s outstanding debt not carried at fair value as of June 30, 2017 and December 31, 2016, respectively: As of As of June 30, 2017 December 31, 2016 2022 Senior Notes USD Notes $ 318,750 $ 315,000 Euro Notes 456,187 424,437 2021 Term Loan B 494,596 498,041 Total fair value $ 1,269,533 $ 1,237,478 The fair value of the Company’s Term Loan B, USD Notes, and Euro Notes (each Level 2 securities) is determined using over-the-counter market quotes and benchmark yields received from independent vendors. There were no other significant financial instruments outstanding as of June 30, 2017 and December 31, 2016.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure
Commitments and Contingencies	NOTE 8—COMMITMENTS AND CONTINGENCIES Environmental Matters Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated, based on current law, existing technologies and other information. Pursuant to the terms of the agreement associated with the Company’s formation, the pre-closing environmental conditions were retained by Dow and Dow has agreed to indemnify the Company from and against all environmental liabilities incurred or relating to the predecessor periods. No environmental claims have been asserted or threatened against the Company, and the Company is not a potentially responsible party at any Superfund Sites. As of June 30, 2017 and December 31, 2016, the Company had no accrued obligations for environmental remediation and restoration costs. Inherent uncertainties exist in the Company’s potential environmental liabilities primarily due to unknown conditions, whether future claims may fall outside the scope of the indemnity, changing governmental regulations and legal standards regarding liability, and evolving technologies for handling site remediation and restoration. In connection with the Company’s existing indemnification, the possibility is considered remote that environmental remediation costs will have a material adverse impact on the condensed consolidated financial statements. Purchase Commitments In the normal course of business, the Company has certain raw material purchase contracts where it is required to purchase certain minimum volumes at current market prices. These commitments range from 1 to 5 years. In certain raw material purchase contracts, the Company has the right to purchase less than the required minimums and pay a liquidated damages fee, or, in case of a permanent plant shutdown, to terminate the contracts. In such cases, these obligations would be less than the annual commitment as disclosed in the consolidated financial statements included in the Annual Report. Litigation Matters From time to time, the Company may be subject to various legal claims and proceedings incidental to the normal conduct of business, relating to such matters as product liability, antitrust/competition, past waste disposal practices and release of chemicals into the environment. While it is impossible at this time to determine with certainty the ultimate outcome of these routine claims, the Company does not believe that the ultimate resolution of these claims will have a material adverse effect on the Company’s results of operations, financial condition or cash flow. Legal costs, including those legal costs expected to be incurred in connection with a loss contingency, are expensed as incurred.

Pension Plans and Other Postret

Pension Plans and Other Postretirement Benefits	6 Months Ended
	Jun. 30, 2017
Pension Plans and Other Postretirement Benefits
Pension Plans and Other Postretirement Benefits	NOTE 9—PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS The components of net periodic benefit costs for all significant plans were as follows: Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Defined Benefit Pension Plans Service cost $ 4,707 $ 4,211 $ 9,291 $ 8,282 Interest cost 1,111 1,408 2,192 2,768 Expected return on plan assets (423) (499) (835) (982) Amortization of prior service credit (482) (493) (953) (971) Amortization of net loss 1,395 1,073 2,753 2,111 Net settlement and curtailment loss (1) — — 129 — Net periodic benefit cost $ 6,308 $ 5,700 $ 12,577 $ 11,208 (1) Represents a settlement loss of approximately $0.5 million triggered by benefit payments exceeding the sum of service and interest cost for one of the Company’s pension plans in Switzerland, partially offset by a curtailment gain of approximately $0.4 million related to a reduction in the number of participants in the Company’s pension plan in Japan. Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Other Postretirement Plans Service cost $ 54 $ 65 $ 108 $ 128 Interest cost 63 129 126 250 Amortization of prior service cost 25 26 51 52 Amortization of net gain (10) (43) (21) (86) Net periodic benefit cost $ 132 $ 177 $ 264 $ 344 As of June 30, 2017 and December 31, 2016, the Company’s benefit obligations included primarily in “Other noncurrent obligations” in the condensed consolidated balance sheets were $211.7 million and $195.8 million, respectively. The net periodic benefit costs are recognized in the condensed consolidated statement of operations as “Cost of sales” and “Selling, general and administrative expenses.” The Company made cash contributions and benefit payments to unfunded plans of approximately $5.0 million and $10.2 million during the three and six months ended June 30, 2017, respectively. The Company expects to make additional cash contributions, including benefit payments to unfunded plans, of approximately $5.5 million to its defined benefit plans for the remainder of 2017.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2017
Stock-Based Compensation
Stock-Based Compensation	NOTE 10—STOCK-BASED COMPENSATION Refer to the Annual Report for definitions of capitalized terms not included herein and further background on the Company’s stock-based compensation programs included in the tables below. The following table summarizes the Company’s stock-based compensation expense for the three and six months ended June 30, 2017 and 2016 as well as unrecognized compensation cost as of June 30, 2017: As of Three Months Ended Six Months Ended June 30, 2017 June 30, June 30, Unrecognized Weighted 2017 2016 2017 2016 Compensation Cost Average Years RSUs $ 2,135 $ 1,355 $ 4,008 $ 2,349 $ 12,854 2.0 Options 502 763 3,207 4,135 2,094 1.5 PSUs 321 — 472 — 3,386 2.6 Restricted Stock Awards issued by Former Parent — 1,104 — 2,332 — — Total Stock-based Compensation Expense $ 2,958 $ 3,222 $ 7,687 $ 8,816 The following table summarizes awards granted and the respective weighted-average grant date fair value for the six months ended June 30, 2017: Six Months Ended June 30, 2017 Awards Granted Weighted Average Grant Date Fair Value per Award RSUs 110,117 $ 70.87 Options 191,565 20.61 PSUs 50,937 75.74 Option Awards The following are the weighted-average assumptions used within the Black-Scholes pricing model for the Company’s option awards granted during the six months ended June 30, 2017: Six Months Ended June 30, 2017 Expected term (in years) 5.50 Expected volatility 35.00 % Risk-free interest rate 2.19 % Dividend yield 2.00 % Since the Company’s equity interests were privately held prior to its initial public offering (“IPO”) in June 2014, there is limited publicly available trading history of the Company’s ordinary shares. Until such time that the Company can determine expected volatility based solely on the publicly traded history of its ordinary shares, expected volatility used in the Black-Scholes model for option awards granted is based on a combination of the Company’s historical volatility and similar companies’ stock that are publicly traded. The expected term of option awards represents the period of time that option awards granted are expected to be outstanding. For the option awards granted during the six months ended June 30, 2017, the simplified method was used to calculate the expected term, given the Company’s limited historical exercise data. The risk-free interest rate for the periods within the expected term of option awards is based on the U.S. Treasury yield curve in effect at the time of grant. The dividend yield is estimated based on historical and expected dividend activity. Performance Share Units (PSUs) The Company granted PSUs for the first time during the six months ended June 30, 2017. The PSUs, which are granted to executives, cliff vest on the third anniversary of the date of grant, generally subject to the executive remaining continuously employed by the Company through the vesting date and achieving certain performance conditions. The number of the PSUs that vest upon completion of the service period can range from 0 to 200 percent of the original grant, subject to certain limitations, contingent upon the Company’s total shareholder return (“TSR”) during the performance period relative to a pre-defined set of industry peer companies. Upon a termination of employment due to the executive’s death or retirement, or termination in connection with a change in control or other factors prior to the vesting date, the PSUs will vest in full or in part, depending on the type of termination and the achievement of the performance conditions. Dividend equivalents will accumulate on PSUs during the vesting period, will be paid in cash upon vesting, and do not accrue interest. When PSUs vest, shares will be issued from the existing pool of treasury shares. The fair value for PSU awards is computed using a Monte Carlo valuation model.

Divestitures

Divestitures	6 Months Ended
	Jun. 30, 2017
Divestitures
Divestitures	NOTE 11—DIVESTITURES During the second quarter of 2016, the Company signed a definitive agreement to sell Trinseo do Brasil Comercio de Produtos Quimicos Ltda. (“Trinseo Brazil”), its primary operating entity in Brazil, including both a latex binders and automotive business. The sale closed on October 1, 2016. As a result of this agreement, during the three and six months ended June 30, 2016, the Company recorded impairment charges for the estimated loss on sale of approximately $12.9 million within “Other expense (income), net” in the condensed consolidated statement of operations. These charges, which are subject to certain post-closing settlement activities, were allocated as $8.6 million, $4.0 million, and $0.3 million to the Performance Plastics segment, Latex Binders segment, and Corporate, respectively. During the year ended December 31, 2016, the Company received $1.8 million in proceeds from the sale of these businesses, with an additional $1.5 million received during the six months ended June 30, 2017.

Segments

Segments	6 Months Ended
	Jun. 30, 2017
Segments
Segments	NOTE 12—SEGMENTS Effective October 1, 2016, the Company realigned its reporting segments to reflect the new model under which the business is now managed and results are reviewed by the chief executive officer, who is the Company’s chief operating decision maker. This change in segments was made to provide increased clarity and understanding around the indicators of profitability and cash flow of the Company. The previous Basic Plastics & Feedstocks segment was split into three new segments: Basic Plastics, which includes polystyrene, copolymers, and polycarbonate; Feedstocks, which represents the Company’s styrene monomer business; and Americas Styrenics, which reflects the equity earnings from its 50%-owned styrenics joint venture. In addition, certain highly differentiated acrylonitrile-butadiene-styrene, or ABS, supplied into Performance Plastics markets, which was previously included in the results of Basic Plastics & Feedstocks, is now included in Performance Plastics. Finally, the Latex segment was renamed to Latex Binders. In conjunction with the segment realignment, the Company also changed its primary measure of segment operating performance from EBITDA to Adjusted EBITDA. Refer to the discussion below for further information about Adjusted EBITDA. The information in the tables below has been retroactively adjusted to reflect the changes in reporting segments and segment operating performance. The Latex Binders segment produces styrene-butadiene latex, or SB latex, and other latex polymers and binders, primarily for coated paper and packaging board, carpet and artificial turf backings, as well as a number of performance latex binders applications, such as adhesive, building and construction and the technical textile paper market. The Synthetic Rubber segment produces synthetic rubber products used predominantly in high-performance tires, impact modifiers and technical rubber products, such as conveyer belts, hoses, seals and gaskets. The Performance Plastics segment produces highly engineered compounds and blends and some specialized ABS grades for automotive end markets, as well as consumer electronics, medical, electrical and lighting, collectively consumer essential markets, or CEM. The Basic Plastics segment produces styrenic polymers, including polystyrene, basic ABS, and styrene-acrylonitrile, or SAN, products, as well as polycarbonate, or PC, all of which are used as inputs in a variety of end use markets. The Basic Plastics segment also included the results of our previously 50%-owned joint venture, Sumika Styron Polycarbonate, until the Company sold its share in the entity in January 2017 (refer to Note 3 for further information). The Feedstocks segment includes the Company’s production and procurement of styrene monomer outside of North America, which is used as a key raw material in many of the Company’s products, including polystyrene, SB latex, ABS resins, solution styrene-butadiene rubber, or SSBR, etc. Lastly, the Americas Styrenics segment consists solely of the operations of our 50%-owned joint venture, Americas Styrenics, a producer of both styrene monomer and polystyrene in North America. Asset, capital expenditure, and intersegment sales information is not reviewed or included with the Company’s reporting to the chief operating decision maker. Therefore, the Company has not disclosed this information for each reportable segment. Performance Materials Basic Plastics & Feedstocks Latex Synthetic Performance Basic Americas Corporate Three Months Ended Binders Rubber Plastics Plastics Feedstocks Styrenics Unallocated Total June 30, 2017 Sales to external customers $ 291,530 $ 174,009 $ 190,173 $ 382,460 $ 107,027 $ — $ — $ 1,145,199 Equity in earnings of unconsolidated affiliates — — — — — 29,927 — 29,927 Adjusted EBITDA (1) 36,070 27,689 23,489 31,768 (1,151) 29,927 Investment in unconsolidated affiliates — — — — — 153,077 — 153,077 Depreciation and amortization 5,761 8,688 2,466 4,130 3,092 — 2,187 26,324 June 30, 2016 Sales to external customers $ 232,471 $ 111,391 $ 183,891 $ 363,325 $ 78,616 $ — $ — $ 969,694 Equity in earnings of unconsolidated affiliates — — — 926 — 37,676 — 38,602 Adjusted EBITDA (1) 21,461 30,216 38,472 43,150 32,548 37,676 Investment in unconsolidated affiliates — — — 35,842 — 154,472 — 190,314 Depreciation and amortization 5,881 8,892 1,589 3,941 2,760 — 1,790 24,853 Performance Materials Basic Plastics & Feedstocks Latex Synthetic Performance Basic Americas Corporate Six Months Ended Binders Rubber Plastics Plastics Feedstocks Styrenics Unallocated Total June 30, 2017 Sales to external customers $ 580,461 $ 337,371 $ 374,724 $ 763,210 $ 193,923 $ — $ — $ 2,249,689 Equity in earnings (losses) of unconsolidated affiliates — — — 810 — 48,412 — 49,222 Adjusted EBITDA (1) 72,885 73,959 50,364 70,629 40,745 48,412 Investment in unconsolidated affiliates — — — — — 153,077 — 153,077 Depreciation and amortization 11,424 17,067 4,844 7,820 5,568 — 4,321 51,044 June 30, 2016 Sales to external customers $ 441,952 $ 213,588 $ 352,520 $ 705,954 $ 149,764 $ — $ — $ 1,863,778 Equity in earnings (losses) of unconsolidated affiliates — — — 3,019 — 70,609 — 73,628 Adjusted EBITDA (1) 40,228 53,295 73,558 80,917 53,358 70,609 Investment in unconsolidated affiliates — — — 35,842 — 154,472 — 190,314 Depreciation and amortization 12,161 16,935 3,133 7,525 5,626 — 2,593 47,973 (1) The reconciliation of income before income taxes to Segment Adjusted EBITDA is as follows: Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Income before income taxes $ 78,959 $ 124,404 $ 225,553 $ 223,051 Interest expense, net 18,719 18,814 36,919 37,710 Depreciation and amortization 26,324 24,853 51,044 47,973 Corporate Unallocated (2) 21,559 21,153 49,024 46,370 Adjusted EBITDA Addbacks (3) 2,231 14,299 (5,546) 16,861 Segment Adjusted EBITDA $ 147,792 $ 203,523 $ 356,994 $ 371,965 (2) (3) Three Months Ended Six Months Ended June 30, June 30, (in millions) 2017 2016 2017 2016 Net (gain) loss on disposition of businesses and assets (Notes 3 and 11) $ — $ 12.9 $ (9.9) $ 12.9 Restructuring and other charges (Note 13) 1.1 1.1 3.3 1.8 Acquisition transaction and integration costs (a) 1.1 — 1.1 — Other items (b) — 0.3 — 2.2 Total Adjusted EBITDA Addbacks $ 2.2 $ 14.3 $ (5.5) $ 16.9 (a) Acquisition transaction and integration costs for the three and six months ended June 30, 2017 relate to advisory and professional fees incurred in conjunction with the Company’s acquisition of API Applicazioni Plastiche Industriali S.p.A (“API Plastics”), which closed on July 10, 2017. Refer to Note 16 for further information. (b) Other items for the three and six months ended June 30, 2016 relate to fees incurred in conjunction with the Company’s secondary offerings completed during these periods.

Restructuring

Restructuring	6 Months Ended
	Jun. 30, 2017
Restructuring
Restructuring	NOTE 13—RESTRUCTURING Refer to the Annual Report for details regarding the Company’s previously announced restructuring activities included in the tables below. New restructuring activities are discussed in greater detail below. Restructuring charges are included within “Selling, general and administrative expenses” in the condensed consolidated statement of operations. The following table provides detail of the Company’s restructuring charges for the three and six months ended June 30, 2017 and 2016: Three Months Ended Six Months Ended Cumulative June 30, June 30, Life-to-date 2017 2016 2017 2016 Charges Segment Terneuzen Compounding Restructuring (1) Asset impairment/accelerated depreciation $ 574 $ — $ 1,131 $ — $ 1,131 Employee termination benefits 156 — 156 — 156 Contract terminations — — 590 — 590 Decommissioning and other — — — — 626 Terneuzen Subtotal $ 730 $ — $ 1,877 $ — $ 2,503 Performance Plastics Livorno Plant Restructuring (2) Asset impairment/accelerated depreciation $ — $ — $ — $ — $ 14,345 Employee termination benefits 206 — 358 — 4,990 Contract terminations — — — — 269 Decommissioning and other 479 — 1,063 — 1,740 Livorno Subtotal $ 685 $ — $ 1,421 $ — $ 21,344 Latex Binders Other Restructurings 349 1,101 1,164 2,233 Various Total Restructuring Charges $ 1,764 $ 1,101 $ 4,462 $ 2,233 (1) In March 2017, the Company announced plans to upgrade its production capability for compounded resins with the construction of a new state-of-the art compounding facility to replace its existing compounding facility in Terneuzen, The Netherlands. The Company expects to incur incremental accelerated depreciation charges of $2.4 million and estimated decommissioning and other charges of approximately $1.3 million throughout 2017 and 2018, the majority of which are expected to be paid in 2018. (2) In August 2016, the Company announced its plan to cease manufacturing activities at its latex binders manufacturing facility in Livorno, Italy. The Company expects to incur incremental employee termination benefit charges of $0.4 million throughout 2017, which are expected to be paid in early 2018. The Company also expects to incur additional decommissioning costs associated with this plant shutdown in 2017, the cost of which will be expensed as incurred. The following table provides a rollforward of the liability balances associated with the Company’s restructuring activities as of June 30, 2017. Employee termination benefit and contract termination charges are recorded within “Accrued expenses and other current liabilities” in the condensed consolidated balance sheet. Balance at Balance at December 31, 2016 Expenses Deductions (1) June 30, 2017 Employee termination benefits $ 5,021 $ 2,102 $ (5,563) $ 1,560 Contract terminations 269 590 (127) 732 Decommissioning and other — 1,360 (1,360) — Total $ 5,290 $ 4,052 $ (7,050) $ 2,292 (1) Includes primarily payments made against the existing accrual, as well as immaterial impacts of foreign currency remeasurement.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2017
Shareholders' Equity.
Accumulated Other Comprehensive Income (Loss)	NOTE 14—ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The components of AOCI, net of income taxes, consisted of: Cumulative Pension & Other Foreign Exchange Translation Postretirement Benefit Cash Flow Three Months Ended June 30, 2017 and 2016 Adjustments Plans, Net Hedges, Net Total Balance as of March 31, 2017 $ (114,721) $ (62,128) $ 7,462 $ (169,387) Other comprehensive income (loss) 18,974 — (11,957) 7,017 Amounts reclassified from AOCI to net income (1) — 796 (1,009) (213) Balance as of June 30, 2017 $ (95,747) $ (61,332) $ (5,504) $ (162,583) Balance as of March 31, 2016 $ (95,697) $ (46,426) $ (1,856) $ (143,979) Other comprehensive income (loss) (11,005) — 5,294 (5,711) Amounts reclassified from AOCI to net income (1) — 539 735 1,274 Balance as of June 30, 2016 $ (106,702) $ (45,887) $ 4,173 $ (148,416) Cumulative Pension & Other Foreign Exchange Translation Postretirement Benefit Cash Flow Six Months Ended June 30, 2017 and 2016 Adjustments Plans, Net Hedges, Net Total Balance as of December 31, 2016 $ (118,922) $ (63,504) $ 12,272 $ (170,154) Other comprehensive income (loss) 23,175 — (14,316) 8,859 Amounts reclassified from AOCI to net income (1) — 2,172 (3,460) (1,288) Balance as of June 30, 2017 $ (95,747) $ (61,332) $ (5,504) $ (162,583) Balance as of December 31, 2015 $ (109,120) $ (46,166) $ 5,569 $ (149,717) Other comprehensive income (loss) 2,418 (800) (1,026) 592 Amounts reclassified from AOCI to net income (1) — 1,079 (370) 709 Balance as of June 30, 2016 $ (106,702) $ (45,887) $ 4,173 $ (148,416) (1) The following is a summary of amounts reclassified from AOCI to net income for the three and six months ended June 30, 2017 and 2016, respectively: Amount Reclassified from AOCI Amount Reclassified from AOCI AOCI Components Three Months Ended June 30, Six Months Ended June 30, Statement of Operations 2017 2016 2017 2016 Classification Cash flow hedging items Foreign exchange cash flow hedges $ (1,009) $ 735 $ (3,460) $ (370) Cost of sales Total before tax (1,009) 735 (3,460) (370) Tax effect — — — — Provision for income taxes Total, net of tax $ (1,009) $ 735 $ (3,460) $ (370) Amortization of pension and other postretirement benefit plan items Prior service credit $ (456) $ (467) $ (902) $ (920) (a) Net actuarial loss 1,613 1,265 3,189 2,519 (a) Net settlement and curtailment loss — — 648 — (a) Total before tax 1,157 798 2,935 1,599 Tax effect (361) (259) (763) (520) Provision for income taxes Total, net of tax $ 796 $ 539 $ 2,172 $ 1,079 (a) These AOCI components are included in the computation of net periodic benefit costs (see Note 9).

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2017
Earnings Per Share
Earnings Per Share	NOTE 15—EARNINGS PER SHARE Basic earnings per ordinary share (“basic EPS”) is computed by dividing net income available to ordinary shareholders by the weighted average number of the Company’s ordinary shares outstanding for the applicable period. Diluted earnings per ordinary share (“diluted EPS”) is calculated using net income available to ordinary shareholders divided by diluted weighted-average ordinary shares outstanding during each period, which includes unvested RSUs, option awards, and PSUs. Diluted EPS considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential ordinary shares would have an anti-dilutive effect. The following table presents basic EPS and diluted EPS for the three and six months ended June 30, 2017 and 2016, respectively. Three Months Ended Six Months Ended June 30, June 30, (in thousands, except per share data) 2017 2016 2017 2016 Earnings: Net income $ 60,159 $ 95,804 $ 177,453 $ 172,551 Shares: Weighted-average ordinary shares outstanding 43,902 46,952 43,979 47,803 Dilutive effect of RSUs, option awards, and PSUs 1,093 905 1,186 751 Diluted weighted-average ordinary shares outstanding 44,995 47,857 45,165 48,554 Income per share: Income per share—basic $ 1.37 $ 2.04 $ 4.03 $ 3.61 Income per share—diluted $ 1.34 $ 2.00 $ 3.93 $ 3.55 * Refer to Note 10 for discussion of RSUs, option awards, and PSUs granted to certain Company directors and employees. The number of anti-dilutive shares that have been excluded in the computation of diluted earnings per share were 0.3 million and 0.2 million for the three and six months ended June 30, 2017, respectively, and zero million and zero million for the three and six months ended June 30, 2016, respectively.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2017
Subsequent Events
Subsequent Events	NOTE 16—SUBSEQUENT EVENTS On July 10, 2017, the Company completed the acquisition of API Applicazioni Plastiche Industriali S.p.A, or API Plastics, for a purchase price of $83.8 million, net of cash acquired, subject to certain customary post-closing adjustments. API Plastics, based in Mussolente, Italy, is a manufacturer of soft-touch polymers and bioplastics, such as thermoplastic elastomers (“TPEs”). TPEs are often molded over rigid plastics such as ABS and PC/ABS, which presents opportunities for complementary technology product offerings within our Performance Plastics segment. The acquisition was funded through existing cash on hand.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2017
Basis of Presentation.
Basis of Presentation	The unaudited interim condensed consolidated financial statements of Trinseo S.A. and its subsidiaries (the “Company”) as of and for the periods ended June 30, 2017 and 2016 were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and reflect all adjustments, consisting only of normal recurring adjustments, which, in the opinion of management, are considered necessary for the fair statement of the results for the periods presented. Because they cover interim periods, the statements and related notes to the financial statements do not include all disclosures normally provided in annual financial statements and, therefore, these statements should be read in conjunction with the 2016 audited consolidated financial statements included within the Company’s Annual Report on Form 10-K (“Annual Report”) filed with the Securities and Exchange Commission (“SEC”) on March 1, 2017. The December 31, 2016 condensed consolidated balance sheet data presented herein was derived from the Company’s December 31, 2016 audited consolidated financial statements, but does not include all disclosures required by GAAP for annual periods. Certain prior year amounts have been reclassified to conform to the current period presentation. These reclassifications did not have a material impact on the Company’s financial position or results. Refer to Note 12 for further information.

Investments in Unconsolidated27

Investments in Unconsolidated Affiliates (Tables)	6 Months Ended
	Jun. 30, 2017
Investments in Unconsolidated Affiliates
Summarized Financial Information of Unconsolidated Affiliates	Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Sales $ 476,882 $ 405,351 $ 910,828 $ 781,603 Gross profit $ 65,170 $ 87,867 $ 85,758 $ 156,271 Net income $ 54,121 $ 71,015 $ 60,449 $ 123,812

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2017
Inventories
Schedule of Inventories	June 30, December 31, 2017 2016 Finished goods $ 242,824 $ 187,577 Raw materials and semi-finished goods 199,324 168,804 Supplies 31,788 28,964 Total $ 473,936 $ 385,345

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2017
Debt
Schedule of Debt	June 30, 2017 December 31, 2016 Interest Rate as of June 30, 2017 Maturity Carrying Unamortized (1) Total Debt, Carrying Unamortized (1) Total Debt, Senior Credit Facility 2020 Revolving Facility (2) Various May 2020 $ — $ — $ — $ — $ — $ — 2021 Term Loan B (3) 4.476% November 2021 489,136 (8,292) 480,844 491,545 (9,159) 482,386 2022 Senior Notes USD Notes 6.750% May 2022 300,000 (5,277) 294,723 300,000 (5,726) 294,274 Euro Notes 6.375% May 2022 427,301 (6,590) 420,711 394,275 (7,157) 387,118 Accounts Receivable Securitization Facility (4) Various May 2019 — — — — — — Other indebtedness Various Various 1,566 — 1,566 1,591 — 1,591 Total debt $ 1,218,003 $ (20,159) $ 1,197,844 $ 1,187,411 $ (22,042) $ 1,165,369 Less: current portion (5,000) (5,000) Total long-term debt, net of unamortized deferred financing fees $ 1,192,844 $ 1,160,369 (1) This caption does not include deferred financing fees related to the Company’s revolving facilities, which are included within “Deferred charges and other assets” on the condensed consolidated balance sheets. (2) The Company had $308.1 million (net of $16.9 million outstanding letters of credit) of funds available for borrowing under this facility as of June 30, 2017. Additionally, the Borrowers were required to pay a quarterly commitment fee in respect of any unused commitments under this facility equal to 0.375% per annum. (3) Carrying amounts presented above are net of an original issue discount, which was 0.25% of the original $500.0 million facility. This facility bears an interest rate of LIBOR plus 3.25%, subject to a 1.00% LIBOR floor. As of June 30, 2017, $5.0 million of the scheduled future payments related to this facility were classified as current debt on the Company’s condensed consolidated balance sheet. (4) This facility has a borrowing capacity of $200.0 million. As of June 30, 2017, the Company had approximately $151.3 million of accounts receivable available to support this facility, based on the pool of eligible accounts receivable. In regards to outstanding borrowings, fixed interest charges are 2.6% plus variable commercial paper rates, while for available, but undrawn commitments, fixed interest charges are 1.4%.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2017
Derivative Instruments [Abstract]
Notional Amounts of Most Significant Net Foreign Exchange Hedge Positions Outstanding	June 30, Buy / (Sell) 2017 Euro $ (146,217) Chinese Yuan $ (74,647) Indonesian Rupiah $ (33,617) Swiss Franc $ 18,686 Japanese Yen $ (7,706)
Schedule of Changes in Fair Value of Company's Derivatives Instruments	Gain (Loss) Recognized in Gain (Loss) Recognized in AOCI on Balance Sheet Statement of Operations Three Months Ended June 30, Statement of Operations 2017 2016 2017 2016 Classification Designated as Cash Flow Hedges Foreign exchange cash flow hedges $ (12,966) $ 6,029 $ 1,009 $ (735) Cost of sales Total $ (12,966) $ 6,029 $ 1,009 $ (735) Net Investment Hedges Euro Notes $ (19,670) $ 3,798 $ — $ — Other expense (income), net Total $ (19,670) $ 3,798 $ — $ — Not Designated as Cash Flow Hedges Foreign exchange forward contracts $ — $ — $ (8,835) $ (2,138) Other expense (income), net Total $ — $ — $ (8,835) $ (2,138) Gain (Loss) Recognized in Gain (Loss) Recognized in AOCI on Balance Sheet Statement of Operations Six Months Ended June 30, Statement of Operations 2017 2016 2017 2016 Classification Designated as Cash Flow Hedges Foreign exchange cash flow hedges $ (17,776) $ (1,396) $ 3,460 $ 370 Cost of sales Total $ (17,776) $ (1,396) $ 3,460 $ 370 Net Investment Hedges Euro Notes $ (24,660) $ (2,487) $ — $ — Other expense (income), net Total $ (24,660) $ (2,487) $ — $ — Not Designated as Cash Flow Hedges Foreign exchange forward contracts $ — $ — $ (10,510) $ 995 Other expense (income), net Total $ — $ — $ (10,510) $ 995
Net Unrealized Gains and Losses Recorded in Consolidated Balance Sheets	June 30, 2017 December 31, 2016 Foreign Foreign Foreign Foreign Forward Cash Flow Forward Cash Flow Balance Sheet Classification Contracts Hedges Total Contracts Hedges Total Asset Derivatives: Accounts receivable, net of allowance $ 514 $ — $ 514 $ 1,664 $ 11,018 $ 12,682 Deferred charges and other assets — — — — — — Total asset derivatives $ 514 $ — $ 514 $ 1,664 $ 11,018 $ 12,682 Liability Derivatives: Accounts payable $ 4,830 $ 4,745 $ 9,575 $ 511 $ — $ 511 Other noncurrent obligations — 2,069 2,069 — — — Total liability derivatives $ 4,830 $ 6,814 $ 11,644 $ 511 $ — $ 511
Gross Amounts of Derivative Instruments and Amounts Offset	Gross Amounts Gross Amounts Net Amounts Recognized in the Offset in the Presented in the Balance Sheet Balance Sheet Balance Sheet Balance at June 30, 2017 Derivative assets $ 1,289 $ (775) $ 514 Derivative liabilities 12,419 (775) 11,644 Balance at December 31, 2016 Derivative assets $ 23,401 $ (10,719) $ 12,682 Derivative liabilities 11,230 (10,719) 511

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value Measurements
Schedule of Assets and Liabilities at Fair Value on Recurring Basis	June 30, 2017 Quoted Prices in Active Markets for Identical Items Significant Other Observable Inputs Significant Unobservable Inputs Assets (Liabilities) at Fair Value (Level 1) (Level 2) (Level 3) Total Foreign exchange forward contracts—Assets $ — $ 514 $ — $ 514 Foreign exchange forward contracts—(Liabilities) — (4,830) — (4,830) Foreign exchange cash flow hedges—(Liabilities) — (6,814) — (6,814) Total fair value $ — $ (11,130) $ — $ (11,130) December 31, 2016 Quoted Prices in Active Markets for Identical Items Significant Other Observable Inputs Significant Unobservable Inputs Assets (Liabilities) at Fair Value (Level 1) (Level 2) (Level 3) Total Foreign exchange forward contracts—Assets $ — $ 1,664 $ — $ 1,664 Foreign exchange forward contracts—(Liabilities) — (511) — (511) Foreign exchange cash flow hedges—Assets — 11,018 — 11,018 Total fair value $ — $ 12,171 $ — $ 12,171
Estimated Fair Value of Outstanding Debt Not Carried at Fair Value	As of As of June 30, 2017 December 31, 2016 2022 Senior Notes USD Notes $ 318,750 $ 315,000 Euro Notes 456,187 424,437 2021 Term Loan B 494,596 498,041 Total fair value $ 1,269,533 $ 1,237,478

Pension Plans and Other Postr32

Pension Plans and Other Postretirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2017
Defined Benefit Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Net Periodic Benefit Costs	Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Defined Benefit Pension Plans Service cost $ 4,707 $ 4,211 $ 9,291 $ 8,282 Interest cost 1,111 1,408 2,192 2,768 Expected return on plan assets (423) (499) (835) (982) Amortization of prior service credit (482) (493) (953) (971) Amortization of net loss 1,395 1,073 2,753 2,111 Net settlement and curtailment loss (1) — — 129 — Net periodic benefit cost $ 6,308 $ 5,700 $ 12,577 $ 11,208 (1) Represents a settlement loss of approximately $0.5 million triggered by benefit payments exceeding the sum of service and interest cost for one of the Company’s pension plans in Switzerland, partially offset by a curtailment gain of approximately $0.4 million related to a reduction in the number of participants in the Company’s pension plan in Japan.
Other Postretirement Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Schedule of Net Periodic Benefit Costs	Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Other Postretirement Plans Service cost $ 54 $ 65 $ 108 $ 128 Interest cost 63 129 126 250 Amortization of prior service cost 25 26 51 52 Amortization of net gain (10) (43) (21) (86) Net periodic benefit cost $ 132 $ 177 $ 264 $ 344

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2017
Stock-Based Compensation
Summary of Stock-Based Compensation Expense and Unrecognized Compensation Cost	As of Three Months Ended Six Months Ended June 30, 2017 June 30, June 30, Unrecognized Weighted 2017 2016 2017 2016 Compensation Cost Average Years RSUs $ 2,135 $ 1,355 $ 4,008 $ 2,349 $ 12,854 2.0 Options 502 763 3,207 4,135 2,094 1.5 PSUs 321 — 472 — 3,386 2.6 Restricted Stock Awards issued by Former Parent — 1,104 — 2,332 — — Total Stock-based Compensation Expense $ 2,958 $ 3,222 $ 7,687 $ 8,816
Summary of Awards Granted and Weighted Average Grant-Date Fair Value	Six Months Ended June 30, 2017 Awards Granted Weighted Average Grant Date Fair Value per Award RSUs 110,117 $ 70.87 Options 191,565 20.61 PSUs 50,937 75.74
Summary of Weighted-average Assumptions	Six Months Ended June 30, 2017 Expected term (in years) 5.50 Expected volatility 35.00 % Risk-free interest rate 2.19 % Dividend yield 2.00 %

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jun. 30, 2017
Segments
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Performance Materials Basic Plastics & Feedstocks Latex Synthetic Performance Basic Americas Corporate Three Months Ended Binders Rubber Plastics Plastics Feedstocks Styrenics Unallocated Total June 30, 2017 Sales to external customers $ 291,530 $ 174,009 $ 190,173 $ 382,460 $ 107,027 $ — $ — $ 1,145,199 Equity in earnings of unconsolidated affiliates — — — — — 29,927 — 29,927 Adjusted EBITDA (1) 36,070 27,689 23,489 31,768 (1,151) 29,927 Investment in unconsolidated affiliates — — — — — 153,077 — 153,077 Depreciation and amortization 5,761 8,688 2,466 4,130 3,092 — 2,187 26,324 June 30, 2016 Sales to external customers $ 232,471 $ 111,391 $ 183,891 $ 363,325 $ 78,616 $ — $ — $ 969,694 Equity in earnings of unconsolidated affiliates — — — 926 — 37,676 — 38,602 Adjusted EBITDA (1) 21,461 30,216 38,472 43,150 32,548 37,676 Investment in unconsolidated affiliates — — — 35,842 — 154,472 — 190,314 Depreciation and amortization 5,881 8,892 1,589 3,941 2,760 — 1,790 24,853 Performance Materials Basic Plastics & Feedstocks Latex Synthetic Performance Basic Americas Corporate Six Months Ended Binders Rubber Plastics Plastics Feedstocks Styrenics Unallocated Total June 30, 2017 Sales to external customers $ 580,461 $ 337,371 $ 374,724 $ 763,210 $ 193,923 $ — $ — $ 2,249,689 Equity in earnings (losses) of unconsolidated affiliates — — — 810 — 48,412 — 49,222 Adjusted EBITDA (1) 72,885 73,959 50,364 70,629 40,745 48,412 Investment in unconsolidated affiliates — — — — — 153,077 — 153,077 Depreciation and amortization 11,424 17,067 4,844 7,820 5,568 — 4,321 51,044 June 30, 2016 Sales to external customers $ 441,952 $ 213,588 $ 352,520 $ 705,954 $ 149,764 $ — $ — $ 1,863,778 Equity in earnings (losses) of unconsolidated affiliates — — — 3,019 — 70,609 — 73,628 Adjusted EBITDA (1) 40,228 53,295 73,558 80,917 53,358 70,609 Investment in unconsolidated affiliates — — — 35,842 — 154,472 — 190,314 Depreciation and amortization 12,161 16,935 3,133 7,525 5,626 — 2,593 47,973 (1)
Reconciliation of IBT to Adjusted EBITDA	Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Income before income taxes $ 78,959 $ 124,404 $ 225,553 $ 223,051 Interest expense, net 18,719 18,814 36,919 37,710 Depreciation and amortization 26,324 24,853 51,044 47,973 Corporate Unallocated (2) 21,559 21,153 49,024 46,370 Adjusted EBITDA Addbacks (3) 2,231 14,299 (5,546) 16,861 Segment Adjusted EBITDA $ 147,792 $ 203,523 $ 356,994 $ 371,965 (2) (3) Three Months Ended Six Months Ended June 30, June 30, (in millions) 2017 2016 2017 2016 Net (gain) loss on disposition of businesses and assets (Notes 3 and 11) $ — $ 12.9 $ (9.9) $ 12.9 Restructuring and other charges (Note 13) 1.1 1.1 3.3 1.8 Acquisition transaction and integration costs (a) 1.1 — 1.1 — Other items (b) — 0.3 — 2.2 Total Adjusted EBITDA Addbacks $ 2.2 $ 14.3 $ (5.5) $ 16.9 (a) Acquisition transaction and integration costs for the three and six months ended June 30, 2017 relate to advisory and professional fees incurred in conjunction with the Company’s acquisition of API Applicazioni Plastiche Industriali S.p.A (“API Plastics”), which closed on July 10, 2017. Refer to Note 16 for further information. (b) Other items for the three and six months ended June 30, 2016 relate to fees incurred in conjunction with the Company’s secondary offerings completed during these periods.

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Jun. 30, 2017
Restructuring
Detail of Restructuring Charges	Three Months Ended Six Months Ended Cumulative June 30, June 30, Life-to-date 2017 2016 2017 2016 Charges Segment Terneuzen Compounding Restructuring (1) Asset impairment/accelerated depreciation $ 574 $ — $ 1,131 $ — $ 1,131 Employee termination benefits 156 — 156 — 156 Contract terminations — — 590 — 590 Decommissioning and other — — — — 626 Terneuzen Subtotal $ 730 $ — $ 1,877 $ — $ 2,503 Performance Plastics Livorno Plant Restructuring (2) Asset impairment/accelerated depreciation $ — $ — $ — $ — $ 14,345 Employee termination benefits 206 — 358 — 4,990 Contract terminations — — — — 269 Decommissioning and other 479 — 1,063 — 1,740 Livorno Subtotal $ 685 $ — $ 1,421 $ — $ 21,344 Latex Binders Other Restructurings 349 1,101 1,164 2,233 Various Total Restructuring Charges $ 1,764 $ 1,101 $ 4,462 $ 2,233 (1) In March 2017, the Company announced plans to upgrade its production capability for compounded resins with the construction of a new state-of-the art compounding facility to replace its existing compounding facility in Terneuzen, The Netherlands. The Company expects to incur incremental accelerated depreciation charges of $2.4 million and estimated decommissioning and other charges of approximately $1.3 million throughout 2017 and 2018, the majority of which are expected to be paid in 2018. (2) In August 2016, the Company announced its plan to cease manufacturing activities at its latex binders manufacturing facility in Livorno, Italy. The Company expects to incur incremental employee termination benefit charges of $0.4 million throughout 2017, which are expected to be paid in early 2018. The Company also expects to incur additional decommissioning costs associated with this plant shutdown in 2017, the cost of which will be expensed as incurred.
Rollforward of Liability Balances	Balance at Balance at December 31, 2016 Expenses Deductions (1) June 30, 2017 Employee termination benefits $ 5,021 $ 2,102 $ (5,563) $ 1,560 Contract terminations 269 590 (127) 732 Decommissioning and other — 1,360 (1,360) — Total $ 5,290 $ 4,052 $ (7,050) $ 2,292 (1) Includes primarily payments made against the existing accrual, as well as immaterial impacts of foreign currency remeasurement.

Accumulated Other Comprehensi36

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2017
Shareholders' Equity.
Components of AOCI, Net of Income Taxes	Cumulative Pension & Other Foreign Exchange Translation Postretirement Benefit Cash Flow Three Months Ended June 30, 2017 and 2016 Adjustments Plans, Net Hedges, Net Total Balance as of March 31, 2017 $ (114,721) $ (62,128) $ 7,462 $ (169,387) Other comprehensive income (loss) 18,974 — (11,957) 7,017 Amounts reclassified from AOCI to net income (1) — 796 (1,009) (213) Balance as of June 30, 2017 $ (95,747) $ (61,332) $ (5,504) $ (162,583) Balance as of March 31, 2016 $ (95,697) $ (46,426) $ (1,856) $ (143,979) Other comprehensive income (loss) (11,005) — 5,294 (5,711) Amounts reclassified from AOCI to net income (1) — 539 735 1,274 Balance as of June 30, 2016 $ (106,702) $ (45,887) $ 4,173 $ (148,416) Cumulative Pension & Other Foreign Exchange Translation Postretirement Benefit Cash Flow Six Months Ended June 30, 2017 and 2016 Adjustments Plans, Net Hedges, Net Total Balance as of December 31, 2016 $ (118,922) $ (63,504) $ 12,272 $ (170,154) Other comprehensive income (loss) 23,175 — (14,316) 8,859 Amounts reclassified from AOCI to net income (1) — 2,172 (3,460) (1,288) Balance as of June 30, 2017 $ (95,747) $ (61,332) $ (5,504) $ (162,583) Balance as of December 31, 2015 $ (109,120) $ (46,166) $ 5,569 $ (149,717) Other comprehensive income (loss) 2,418 (800) (1,026) 592 Amounts reclassified from AOCI to net income (1) — 1,079 (370) 709 Balance as of June 30, 2016 $ (106,702) $ (45,887) $ 4,173 $ (148,416)
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Amount Reclassified from AOCI Amount Reclassified from AOCI AOCI Components Three Months Ended June 30, Six Months Ended June 30, Statement of Operations 2017 2016 2017 2016 Classification Cash flow hedging items Foreign exchange cash flow hedges $ (1,009) $ 735 $ (3,460) $ (370) Cost of sales Total before tax (1,009) 735 (3,460) (370) Tax effect — — — — Provision for income taxes Total, net of tax $ (1,009) $ 735 $ (3,460) $ (370) Amortization of pension and other postretirement benefit plan items Prior service credit $ (456) $ (467) $ (902) $ (920) (a) Net actuarial loss 1,613 1,265 3,189 2,519 (a) Net settlement and curtailment loss — — 648 — (a) Total before tax 1,157 798 2,935 1,599 Tax effect (361) (259) (763) (520) Provision for income taxes Total, net of tax $ 796 $ 539 $ 2,172 $ 1,079 (a) These AOCI components are included in the computation of net periodic benefit costs (see Note 9).

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share
Schedule of Earnings per Share Basic and Diluted	Three Months Ended Six Months Ended June 30, June 30, (in thousands, except per share data) 2017 2016 2017 2016 Earnings: Net income $ 60,159 $ 95,804 $ 177,453 $ 172,551 Shares: Weighted-average ordinary shares outstanding 43,902 46,952 43,979 47,803 Dilutive effect of RSUs, option awards, and PSUs 1,093 905 1,186 751 Diluted weighted-average ordinary shares outstanding 44,995 47,857 45,165 48,554 Income per share: Income per share—basic $ 1.37 $ 2.04 $ 4.03 $ 3.61 Income per share—diluted $ 1.34 $ 2.00 $ 3.93 $ 3.55 * Refer to Note 10 for discussion of RSUs, option awards, and PSUs granted to certain Company directors and employees. The number of anti-dilutive shares that have been excluded in the computation of diluted earnings per share were 0.3 million and 0.2 million for the three and six months ended June 30, 2017, respectively, and zero million and zero million for the three and six months ended June 30, 2016, respectively.

Investments in Unconsolidated38

Investments in Unconsolidated Affiliates (Details) $ in Thousands	Jan. 31, 2017USD ($)	Jun. 30, 2017USD ($)item	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)item	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Investments in Unconsolidated Affiliates
Number of joint ventures | item		2		2
Investments in unconsolidated affiliates		$ 153,077	$ 190,314	$ 153,077	$ 190,314	$ 191,418
Basic Plastics Segment [Member]
Investments in Unconsolidated Affiliates
Investments in unconsolidated affiliates			35,842		35,842
Americas Styrenics
Investments in Unconsolidated Affiliates
Investments in unconsolidated affiliates		153,100		153,100		149,700
Investment in unconsolidated affiliates-difference between carrying amount and underlying equity		$ 52,300		$ 52,300		$ 71,200
Percentage of ownership underlying net assets		50.00%		50.00%		50.00%
Amortized weighted average remaining useful life				P3Y3M18D
Dividends received from operating activities		$ 37,500	30,000	$ 45,000	60,000
Sumika Styron Polycarbonate
Investments in Unconsolidated Affiliates
Investments in unconsolidated affiliates		0		0		$ 41,800
Percentage of ownership underlying net assets	50.00%
Sales proceeds	$ 42,100
Dividends received from operating and investing activities		$ 0	$ 0	9,800	$ 6,200
Sumika Styron Polycarbonate | Basic Plastics Segment [Member]
Investments in Unconsolidated Affiliates
Percentage of ownership underlying net assets	50.00%
Sumika Styron Polycarbonate | Other Expense (Income), Net | Basic Plastics Segment [Member]
Investments in Unconsolidated Affiliates
Gain on sale				$ 9,300

Investments in Unconsolidated39

Investments in Unconsolidated Affiliates - Summarized Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Summarized Financial Information, Net Income
Sales	$ 476,882	$ 405,351	$ 910,828	$ 781,603
Gross profit	65,170	87,867	85,758	156,271
Net income	$ 54,121	$ 71,015	$ 60,449	$ 123,812

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Inventories
Finished goods	$ 242,824	$ 187,577
Raw materials and semi-finished goods	199,324	168,804
Supplies	31,788	28,964
Total	$ 473,936	$ 385,345

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) $ in Thousands, € in Millions	Jun. 30, 2017EUR (€)	Jun. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Debt Instruments
Carrying amount		$ 1,218,003	$ 1,187,411
Unamortized deferred financing fees		(20,159)	(22,042)
Total Debt, Less Unamortized Deferred Financing Fees, Current and Noncurrent		1,197,844	1,165,369
Less: current portion		(5,000)	(5,000)
Total long-term debt, net of unamortized deferred financing fees		1,192,844	1,160,369
2021 Term Loan B [Member]
Debt Instruments
Carrying amount		489,136	491,545
Unamortized deferred financing fees		(8,292)	(9,159)
Total Debt, Less Unamortized Deferred Financing Fees, Current and Noncurrent		480,844	482,386
Less: current portion		$ (5,000)
Interest and Debt Expense [Abstract]
Interest rate	4.476%	4.476%
USD Notes
Debt Instruments
Carrying amount		$ 300,000	300,000
Unamortized deferred financing fees		(5,277)	(5,726)
Total Debt, Less Unamortized Deferred Financing Fees, Current and Noncurrent		$ 294,723	294,274
Interest and Debt Expense [Abstract]
Interest rate	6.75%	6.75%
Euro Notes
Debt Instruments
Carrying amount		$ 427,301	394,275
Unamortized deferred financing fees		(6,590)	(7,157)
Total Debt, Less Unamortized Deferred Financing Fees, Current and Noncurrent	€ 375	$ 420,711	387,118
Interest and Debt Expense [Abstract]
Interest rate	6.375%	6.375%
Accounts Receivable Securitization Facility [Member]
Debt Instruments
Carrying amount		$ 0	0
Unamortized deferred financing fees		0	0
Total Debt, Less Unamortized Deferred Financing Fees, Current and Noncurrent		0	0
Other Indebtedness [Member]
Debt Instruments
Carrying amount		1,566	1,591
Total Debt, Less Unamortized Deferred Financing Fees, Current and Noncurrent		$ 1,566	$ 1,591

Debt - Senior Credit Facility (

Debt - Senior Credit Facility (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Debt Instruments
Current portion	$ 5,000	$ 5,000
2020 Revolving Facility [Member]
Debt Instruments
Funds available for borrowings	308,100
Letters of credit, amount outstanding	$ 16,900
Commitment fee (as a percent)	0.375%
2021 Term Loan B [Member]
Debt Instruments
Discount rate, as a percent	0.25%
Maximum borrowing capacity	$ 500,000
Current portion	$ 5,000
LIBOR [Member] | 2021 Term Loan B [Member]
Debt Instruments
Debt instrument, margin rate	3.25%
Variable rate floor (as a percent)	1.00%

Debt - Accounts Receivable Secu

Debt - Accounts Receivable Securitization Facility and Other (Details) - Accounts Receivable Securitization Facility [Member] $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Debt Instruments
Maximum borrowing capacity	$ 200
Accounts receivable available to support facility	$ 151.3
Fixed interest charges on available, but undrawn borrowings	1.40%
Base Rate [Member]
Debt Instruments
Interest rate	2.60%

Derivative Instruments (Details

Derivative Instruments (Details) $ in Thousands, € in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017EUR (€)	Jun. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Derivative Instruments
Total debt						$ 1,197,844	$ 1,165,369
Information regarding changes in fair value of derivatives
Foreign exchange transaction gains (losses)	$ 7,300	$ 2,300	$ 7,900	$ (2,600)
Ineffectiveness on cash flow hedges			$ 0
Foreign Exchange Cash Flow Hedges
Derivative Instruments
Original maturity period			18 months
Information regarding changes in fair value of derivatives
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months						(4,700)
Net Investment Hedge
Derivative Instruments
Cumulative translation adjustment, net of tax						10,200
Information regarding changes in fair value of derivatives
Gain (Loss) Recognized in AOCI on Balance Sheet	(19,670)	3,798	$ (24,660)	(2,487)
Not Designated as Hedging Instruments [Member]
Information regarding changes in fair value of derivatives
Gain (Loss) Recognized in Statement of Operations	(8,835)	(2,138)	(10,510)	995
Designated as Hedging Instrument [Member]
Information regarding changes in fair value of derivatives
Gain (Loss) Recognized in AOCI on Balance Sheet	(12,966)	6,029	(17,776)	(1,396)
Gain (Loss) Recognized in Statement of Operations	1,009	(735)	3,460	370
Designated as Hedging Instrument [Member] | Foreign Exchange Cash Flow Hedges
Derivative Instruments
Derivative contracts, notional amount						255,000
Foreign Exchange Forward Contracts | Not Designated as Hedging Instruments [Member]
Derivative Instruments
Derivative contracts, notional amount						302,100
Cost of Sales | Designated as Hedging Instrument [Member] | Foreign Exchange Cash Flow Hedges
Information regarding changes in fair value of derivatives
Gain (Loss) Recognized in AOCI on Balance Sheet	(12,966)	6,029	(17,776)	(1,396)
Gain (Loss) Recognized in Statement of Operations	1,009	(735)	3,460	370
Other Expense (Income), Net | Foreign Exchange Forward Contracts | Not Designated as Hedging Instruments [Member]
Information regarding changes in fair value of derivatives
Gain (Loss) Recognized in Statement of Operations	(8,835)	(2,138)	(10,510)	995
Other Expense (Income), Net | Euro Notes | Net Investment Hedge
Information regarding changes in fair value of derivatives
Gain (Loss) Recognized in AOCI on Balance Sheet	$ (19,670)	$ 3,798	$ (24,660)	$ (2,487)
Euro Notes
Derivative Instruments
Total debt					€ 375	420,711	$ 387,118
Euro Notes | Net Investment Hedge
Derivative Instruments
Total debt | €					€ 280
Euro [Member] | Foreign Exchange Forward Contracts | Sell | Not Designated as Hedging Instruments [Member]
Derivative Instruments
Derivative contracts, notional amount						146,217
Chinese Yuan [Member] | Foreign Exchange Forward Contracts | Sell | Not Designated as Hedging Instruments [Member]
Derivative Instruments
Derivative contracts, notional amount						74,647
Indonesian Rupiah [Member] | Foreign Exchange Forward Contracts | Sell | Not Designated as Hedging Instruments [Member]
Derivative Instruments
Derivative contracts, notional amount						33,617
Swiss Franc [Member] | Foreign Exchange Forward Contracts | Buy | Not Designated as Hedging Instruments [Member]
Derivative Instruments
Derivative contracts, notional amount						18,686
Japanese Yen [Member] | Foreign Exchange Forward Contracts | Sell | Not Designated as Hedging Instruments [Member]
Derivative Instruments
Derivative contracts, notional amount						$ 7,706

Derivative Instruments - Financ

Derivative Instruments - Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Derivatives, Financial Assets and Liabilities
Net Amounts of Assets Presented in the Consolidated Balance Sheet	$ 514	$ 12,682
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	11,644	511
Accounts Receivable
Derivatives, Financial Assets and Liabilities
Net Amounts of Assets Presented in the Consolidated Balance Sheet	514	12,682
Accounts Payable
Derivatives, Financial Assets and Liabilities
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	9,575	511
Other Noncurrent Obligations
Derivatives, Financial Assets and Liabilities
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	2,069
Designated as Hedging Instrument [Member] | Foreign Exchange Cash Flow Hedges
Derivatives, Financial Assets and Liabilities
Net Amounts of Assets Presented in the Consolidated Balance Sheet		11,018
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	6,814
Designated as Hedging Instrument [Member] | Foreign Exchange Cash Flow Hedges | Accounts Receivable
Derivatives, Financial Assets and Liabilities
Net Amounts of Assets Presented in the Consolidated Balance Sheet		11,018
Designated as Hedging Instrument [Member] | Foreign Exchange Cash Flow Hedges | Accounts Payable
Derivatives, Financial Assets and Liabilities
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	4,745
Designated as Hedging Instrument [Member] | Foreign Exchange Cash Flow Hedges | Other Noncurrent Obligations
Derivatives, Financial Assets and Liabilities
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	2,069
Foreign Exchange Forward Contracts
Derivatives, Financial Assets and Liabilities
Gross Amounts of Recognized Assets	1,289	23,401
Gross Amounts of Offset in the Consolidated Balance Sheet	(775)	(10,719)
Net Amounts of Assets Presented in the Consolidated Balance Sheet	514	12,682
Gross Amounts of Recognized Liabilities	12,419	11,230
Gross Amounts of Offset in the Consolidated Balance Sheet	(775)	(10,719)
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	11,644	511
Foreign Exchange Forward Contracts | Not Designated as Hedging Instruments [Member]
Derivatives, Financial Assets and Liabilities
Net Amounts of Assets Presented in the Consolidated Balance Sheet	514	1,664
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	4,830	511
Foreign Exchange Forward Contracts | Not Designated as Hedging Instruments [Member] | Accounts Receivable
Derivatives, Financial Assets and Liabilities
Net Amounts of Assets Presented in the Consolidated Balance Sheet	514	1,664
Foreign Exchange Forward Contracts | Not Designated as Hedging Instruments [Member] | Accounts Payable
Derivatives, Financial Assets and Liabilities
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	$ 4,830	$ 511

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities at Fair Value, Recurring (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Fair Value Measurements
Assets at fair value	$ 514	$ 12,682
Liabilities at fair value	(11,644)	(511)
Recurring
Fair Value Measurements
Total fair value	(11,130)	12,171
Recurring | Foreign Exchange Forward Contracts
Fair Value Measurements
Assets at fair value	514	1,664
Liabilities at fair value	(4,830)	(511)
Recurring | Significant Other Observable Inputs (Level 2)
Fair Value Measurements
Total fair value	(11,130)	12,171
Recurring | Significant Other Observable Inputs (Level 2) | Foreign Exchange Forward Contracts
Fair Value Measurements
Assets at fair value	514	1,664
Liabilities at fair value	(4,830)	(511)
Recurring | Foreign Exchange Cash Flow Hedges
Fair Value Measurements
Assets at fair value		11,018
Liabilities at fair value	(6,814)
Recurring | Foreign Exchange Cash Flow Hedges | Significant Other Observable Inputs (Level 2)
Fair Value Measurements
Assets at fair value		$ 11,018
Liabilities at fair value	$ (6,814)

Fair Value Measurements - Items

Fair Value Measurements - Items not at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Fair Value of Debt Instruments
Total fair value of long term debt	$ 1,269,533	$ 1,237,478
USD Notes | Significant Other Observable Inputs (Level 2)
Fair Value of Debt Instruments
Total fair value of long term debt	318,750	315,000
Euro Notes | Significant Other Observable Inputs (Level 2)
Fair Value of Debt Instruments
Total fair value of long term debt	456,187	424,437
2021 Term Loan B [Member] | Significant Other Observable Inputs (Level 2)
Fair Value of Debt Instruments
Total fair value of long term debt	$ 494,596	$ 498,041

Commitments and Contingencies -

Commitments and Contingencies - Operating Leases, Environmental Matters (Details)	Jun. 30, 2017USD ($)item	Dec. 31, 2016USD ($)
Commitments and Contingencies Disclosure
Environmental claims asserted | item	0
Accrued obligations for environmental remediation and restoration costs | $	$ 0	$ 0

Commitments and Contingencies49

Commitments and Contingencies - Purchase Commitments (Details)	6 Months Ended
	Jun. 30, 2017
Maximum
Purchase commitment period	5 years
Minimum
Purchase commitment period	1 year

Pension Plans and Other Postr50

Pension Plans and Other Postretirement Benefits - Net Periodic Benefit Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Net periodic benefit cost
Net settlement and curtailment loss			$ 129
Defined Benefit Pension Plans
Net periodic benefit cost
Service cost	$ 4,707	$ 4,211	9,291	$ 8,282
Interest cost	1,111	1,408	2,192	2,768
Expected return on plan assets	(423)	(499)	(835)	(982)
Amortization of prior service cost (credit)	(482)	(493)	(953)	(971)
Amortization of net (gain) loss	1,395	1,073	2,753	2,111
Settlement loss			500
Defined benefit curtailment gain			400
Defined Benefit Pension Plans | Cost of Sales and Selling, General and Administrative Expenses
Net periodic benefit cost
Net periodic benefit cost (income)	6,308	5,700	12,577	11,208
Amounts recognized in other comprehensive income (loss)
Net periodic benefit cost (income)	6,308	5,700	12,577	11,208
Other Postretirement Plans
Net periodic benefit cost
Service cost	54	65	108	128
Interest cost	63	129	126	250
Amortization of prior service cost (credit)	25	26	51	52
Amortization of net (gain) loss	(10)	(43)	(21)	(86)
Other Postretirement Plans | Cost of Sales and Selling, General and Administrative Expenses
Net periodic benefit cost
Net periodic benefit cost (income)	132	177	264	344
Amounts recognized in other comprehensive income (loss)
Net periodic benefit cost (income)	$ 132	$ 177	$ 264	$ 344

Pension Plans and Other Postr51

Pension Plans and Other Postretirement Benefits - Net Amounts Recognized (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017	Dec. 31, 2016
Net amounts recognized in the balance sheets at December 31
Employer contributions	$ 5	$ 10.2
Additional cash contributions, including benefit payments to unfunded plans		5.5
Other Noncurrent Obligations
Net amounts recognized in the balance sheets at December 31
Benefit obligations	$ 211.7	$ 211.7	$ 195.8

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2015
Other-than-Options, FV Activity
Compensation expense	$ 2,958	$ 3,222	$ 7,687	$ 8,816
Options, Additional Disclosures
Proceeds from exercise of option awards			$ 5,984	87
Additional Paid-In Capital [Member]
Adoption of Accounting Standards Update
Adoption of new accounting standard					$ 915
Retained Earnings (Accumulated Deficit).
Adoption of Accounting Standards Update
Adoption of new accounting standard					$ (915)
Incentive Plan Under Former Parent [Member]
Other-than-Options, FV Activity
Compensation expense		1,104		2,332
Restricted Stock Units
Other-than-Options, Shares Activity
Granted, Shares			110,117
Other-than-Options, FV Activity
Granted, Weighted-Average Grant Date Fair Value per Share			$ 70.87
Compensation expense	2,135	1,355	$ 4,008	2,349
Unrecognized compensation cost	12,854		$ 12,854
Weighted-average period of recognition			2 years
Option Awards
Other-than-Options, FV Activity
Compensation expense	502	$ 763	$ 3,207	$ 4,135
Unrecognized compensation cost	2,094		$ 2,094
Weighted-average period of recognition			1 year 6 months
Options Outstanding Roll Forward
Granted, Options			191,565
Options, Additional Disclosures
Options granted, Weighted average grant date fair value			$ 20.61
Fair Value Assumptions
Expected term (in years)			5 years 6 months
Expected volatility			35.00%
Risk-free interest rate			2.19%
Dividend yield			2.00%
Performance Share Units
Other-than-Options, Shares Activity
Granted, Shares			50,937
Other-than-Options, FV Activity
Granted, Weighted-Average Grant Date Fair Value per Share			$ 75.74
Compensation expense	321		$ 472
Unrecognized compensation cost	$ 3,386		$ 3,386
Weighted-average period of recognition			2 years 7 months 6 days
Performance Share Units | Minimum
Other-than-Options, FV Activity
Vesting percentage			0.00%
Performance Share Units | Maximum
Other-than-Options, FV Activity
Vesting percentage			200.00%

Divestitures (Details)

Divestitures (Details) - Brazil Latex and Automotive Businesses [Member] - Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] - USD ($) $ in Millions	3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Disclosures by disposal group
Sales proceeds		$ 1.5		$ 1.8
Other Expense (Income), Net
Disclosures by disposal group
Loss related to impairment	$ 12.9		$ 12.9
Latex Binders Segment | Other Expense (Income), Net
Disclosures by disposal group
Loss related to impairment	4		4
Performance Plastics Segment [Member] | Other Expense (Income), Net
Disclosures by disposal group
Loss related to impairment	8.6		8.6
Corporate Unallocated [Member] | Other Expense (Income), Net
Disclosures by disposal group
Loss related to impairment	$ 0.3		$ 0.3

Segments - Reconciliation of Se

Segments - Reconciliation of Segment Reporting to Consolidated (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)item	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)item	Jun. 30, 2016USD ($)	Jan. 31, 2017	Dec. 31, 2016USD ($)	Oct. 01, 2016segment
Segment Reporting Information [Line Items]
Number of new segments from split | segment							3
Number of joint ventures | item	2		2
Sales to external customers	$ 1,145,199	$ 969,694	$ 2,249,689	$ 1,863,778
Equity in earnings (losses) of unconsolidated affiliates	29,927	38,602	49,222	73,628
Adjusted EBITDA	147,792	203,523	356,994	371,965
Investment in unconsolidated affiliates	153,077	190,314	153,077	190,314		$ 191,418
Depreciation and amortization	$ 26,324	24,853	$ 51,044	47,973
Americas Styrenics
Segment Reporting Information [Line Items]
Percentage of ownership underlying net assets	50.00%		50.00%			50.00%
Investment in unconsolidated affiliates	$ 153,100		$ 153,100			$ 149,700
Sumika Styron Polycarbonate
Segment Reporting Information [Line Items]
Percentage of ownership underlying net assets					50.00%
Investment in unconsolidated affiliates	0		0			$ 41,800
Corporate Unallocated [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	2,187	1,790	4,321	2,593
Latex Binders Segment
Segment Reporting Information [Line Items]
Sales to external customers	291,530	232,471	580,461	441,952
Adjusted EBITDA	36,070	21,461	72,885	40,228
Depreciation and amortization	5,761	5,881	11,424	12,161
Synthetic Rubber Segment
Segment Reporting Information [Line Items]
Sales to external customers	174,009	111,391	337,371	213,588
Adjusted EBITDA	27,689	30,216	73,959	53,295
Depreciation and amortization	8,688	8,892	17,067	16,935
Performance Plastics Segment [Member]
Segment Reporting Information [Line Items]
Sales to external customers	190,173	183,891	374,724	352,520
Adjusted EBITDA	23,489	38,472	50,364	73,558
Depreciation and amortization	2,466	1,589	4,844	3,133
Basic Plastics Segment [Member]
Segment Reporting Information [Line Items]
Sales to external customers	382,460	363,325	763,210	705,954
Equity in earnings (losses) of unconsolidated affiliates		926	810	3,019
Adjusted EBITDA	31,768	43,150	70,629	80,917
Investment in unconsolidated affiliates		35,842		35,842
Depreciation and amortization	4,130	3,941	7,820	7,525
Basic Plastics Segment [Member] | Sumika Styron Polycarbonate
Segment Reporting Information [Line Items]
Percentage of ownership underlying net assets					50.00%
Feedstocks [Member]
Segment Reporting Information [Line Items]
Sales to external customers	107,027	78,616	193,923	149,764
Adjusted EBITDA	(1,151)	32,548	40,745	53,358
Depreciation and amortization	3,092	2,760	5,568	5,626
Americas Styrenics [Member]
Segment Reporting Information [Line Items]
Equity in earnings (losses) of unconsolidated affiliates	29,927	37,676	48,412	70,609
Adjusted EBITDA	29,927	37,676	48,412	70,609
Investment in unconsolidated affiliates	$ 153,077	$ 154,472	$ 153,077	$ 154,472
Americas Styrenics [Member] | Americas Styrenics
Segment Reporting Information [Line Items]
Percentage of ownership underlying net assets	50.00%		50.00%

Segments - Recon. of Net Income

Segments - Recon. of Net Income to Segment Adjusted EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income before income taxes	$ 78,959	$ 124,404	$ 225,553	$ 223,051
Interest expense, net	(18,719)	(18,814)	(36,919)	(37,710)
Depreciation and amortization	26,324	24,853	51,044	47,973
Corporate Unallocated	21,559	21,153	49,024	46,370
Adjusted EBITDA addbacks	2,231	14,299	(5,546)	16,861
Adjusted EBITDA	147,792	203,523	356,994	371,965
Net (gain) loss on disposition of businesses and assets		12,900	(9,900)	12,900
Restructuring and other charges	1,100	1,100	3,300	1,800
Acquisition transactions and integration costs	1,100		1,100
Other items		300		2,200
Operating Segments [Member]
Income before income taxes	78,959	124,404	225,553	223,051
Corporate Unallocated [Member]
Interest expense, net	(18,719)	(18,814)	(36,919)	(37,710)
Depreciation and amortization	$ 2,187	$ 1,790	$ 4,321	$ 2,593

Restructuring (Details)

Restructuring (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Restructuring Reserve [Roll Forward]
Payments/Deductions			$ (7,050)
Terneuzen Plant Modernization
Restructuring Cost and Reserve [Line Items]
Cumulative life-to-date charges	$ 2,503		2,503
Livorno Plant Restructuring
Restructuring Cost and Reserve [Line Items]
Cumulative life-to-date charges	21,344		21,344
Asset Impairment And Accelerated Depreciation [Member] | Terneuzen Plant Modernization
Restructuring Cost and Reserve [Line Items]
Cumulative life-to-date charges	1,131		1,131
Asset Impairment And Accelerated Depreciation [Member] | Livorno Plant Restructuring
Restructuring Cost and Reserve [Line Items]
Cumulative life-to-date charges	14,345		14,345
Accelerated Depreciation On Related Assets [Member] | Terneuzen Plant Modernization
Restructuring Reserve [Roll Forward]
Expected restructuring charges	2,400		2,400
Employee Termination Benefit Charges
Restructuring Reserve [Roll Forward]
Payments/Deductions			(5,563)
Employee Termination Benefit Charges | Terneuzen Plant Modernization
Restructuring Cost and Reserve [Line Items]
Cumulative life-to-date charges	156		156
Employee Termination Benefit Charges | Livorno Plant Restructuring
Restructuring Cost and Reserve [Line Items]
Cumulative life-to-date charges	4,990		4,990
Restructuring Reserve [Roll Forward]
Expected restructuring charges	400		400
Contract Termination
Restructuring Reserve [Roll Forward]
Payments/Deductions			(127)
Contract Termination | Terneuzen Plant Modernization
Restructuring Cost and Reserve [Line Items]
Cumulative life-to-date charges	590		590
Contract Termination | Livorno Plant Restructuring
Restructuring Cost and Reserve [Line Items]
Cumulative life-to-date charges	269		269
Decomissioning and Other Charges
Restructuring Reserve [Roll Forward]
Payments/Deductions			(1,360)
Decomissioning and Other Charges | Terneuzen Plant Modernization
Restructuring Cost and Reserve [Line Items]
Cumulative life-to-date charges	626		626
Restructuring Reserve [Roll Forward]
Expected restructuring charges	1,300		1,300
Decomissioning and Other Charges | Livorno Plant Restructuring
Restructuring Cost and Reserve [Line Items]
Cumulative life-to-date charges	1,740		1,740
Accrued Expenses And Other Current Liabilities
Restructuring Reserve [Roll Forward]
Accrued charges/Balance at beginning of period			5,290
Accrued charges/Balance at end of period	2,292		2,292
Accrued Expenses And Other Current Liabilities | Employee Termination Benefit Charges
Restructuring Reserve [Roll Forward]
Accrued charges/Balance at beginning of period			5,021
Accrued charges/Balance at end of period	1,560		1,560
Accrued Expenses And Other Current Liabilities | Contract Termination
Restructuring Reserve [Roll Forward]
Accrued charges/Balance at beginning of period			269
Accrued charges/Balance at end of period	732		732
Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	1,764	$ 1,101	4,462	$ 2,233
Restructuring Reserve [Roll Forward]
Expenses			4,052
Selling, General and Administrative Expenses | Terneuzen Plant Modernization
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	730		1,877
Selling, General and Administrative Expenses | Livorno Plant Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	685		1,421
Selling, General and Administrative Expenses | Other Restructurings
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	349	$ 1,101	1,164	$ 2,233
Selling, General and Administrative Expenses | Asset Impairment And Accelerated Depreciation [Member] | Terneuzen Plant Modernization
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	574		1,131
Selling, General and Administrative Expenses | Employee Termination Benefit Charges
Restructuring Reserve [Roll Forward]
Expenses			2,102
Selling, General and Administrative Expenses | Employee Termination Benefit Charges | Terneuzen Plant Modernization
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	156		156
Selling, General and Administrative Expenses | Employee Termination Benefit Charges | Livorno Plant Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	206		358
Selling, General and Administrative Expenses | Contract Termination
Restructuring Reserve [Roll Forward]
Expenses			590
Selling, General and Administrative Expenses | Contract Termination | Terneuzen Plant Modernization
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			590
Selling, General and Administrative Expenses | Decomissioning and Other Charges
Restructuring Reserve [Roll Forward]
Expenses			1,360
Selling, General and Administrative Expenses | Decomissioning and Other Charges | Livorno Plant Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 479		$ 1,063

Accumulated Other Comprehensi57

Accumulated Other Comprehensive Income (Loss) - Components (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance			$ 445,053	$ 389,014
Balance	$ 560,273	$ 463,413	560,273	463,413
Cumulative Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance	(114,721)	(95,697)	(118,922)	(109,120)
Other comprehensive income (loss)	18,974	(11,005)	23,175	2,418
Balance	(95,747)	(106,702)	(95,747)	(106,702)
Pension & Other Postretirement Benefit Plans, Net
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance	(62,128)	(46,426)	(63,504)	(46,166)
Other comprehensive income (loss)				(800)
Amounts reclassified from AOCI to net income	796	539	2,172	1,079
Balance	(61,332)	(45,887)	(61,332)	(45,887)
Foreign Exchange Cash Flow Hedges, Net
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance	7,462	(1,856)	12,272	5,569
Other comprehensive income (loss)	(11,957)	5,294	(14,316)	(1,026)
Amounts reclassified from AOCI to net income	(1,009)	735	(3,460)	(370)
Balance	(5,504)	4,173	(5,504)	4,173
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance	(169,387)	(143,979)	(170,154)	(149,717)
Other comprehensive income (loss)	7,017	(5,711)	8,859	592
Amounts reclassified from AOCI to net income	(213)	1,274	(1,288)	709
Balance	$ (162,583)	$ (148,416)	$ (162,583)	$ (148,416)

Accumulated Other Comprehensi58

Accumulated Other Comprehensive Income (Loss) - Reclassification (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net settlement and curtailment loss			$ 129
Income before income taxes	$ 78,959	$ 124,404	225,553	$ 223,051
Tax effect	(18,800)	(28,600)	(48,100)	(50,500)
Net income (loss)	60,159	95,804	177,453	172,551
Cumulative Translation Adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of Sales	(1,009)	735
Cumulative Translation Adjustment | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of Sales			(3,460)	(370)
Pension & Other Postretirement Benefit Plans, Net
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	1,157	798
Tax effect	(361)	(259)
Net income (loss)	796	539
Pension & Other Postretirement Benefit Plans, Net | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net settlement and curtailment loss			648
Income before income taxes			2,935	1,599
Tax effect			(763)	(520)
Net income (loss)			2,172	1,079
Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Prior service credit	(456)	(467)
Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Prior service credit			(902)	(920)
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net actuarial loss	1,613	1,265
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net actuarial loss			3,189	2,519
Foreign Exchange Cash Flow Hedges, Net
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	(1,009)	735
Net income (loss)	$ (1,009)	$ 735
Foreign Exchange Cash Flow Hedges, Net | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes			(3,460)	(370)
Net income (loss)			$ (3,460)	$ (370)

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Earnings:
Net income (loss)	$ 60,159	$ 95,804	$ 177,453	$ 172,551
Shares:
Weighted average ordinary shares outstanding	43,902	46,952	43,979	47,803
Dilutive effect of RSUs and option awards	1,093	905	1,186	751
Diluted weighted average ordinary shares outstanding	44,995	47,857	45,165	48,554
Income (loss) per share:
Income per share- basic	$ 1.37	$ 2.04	$ 4.03	$ 3.61
Income per share- diluted	$ 1.34	$ 2	$ 3.93	$ 3.55
Anti-dilutive shares excluded	300	0	200	0

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	Jul. 10, 2017USD ($)
Subsequent Event [Member] | API Applicazioni Plastiche Industriali S.p.A. [Member]
Subsequent Event
Purchase price, net of cash acquired	$ 83.8