Trinseo (TSE) 10-Q 3 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 01, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
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		43,704,689

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 318,703	$ 465,114
Accounts receivable, net of allowance for doubtful accounts (September 30, 2017 -- $6,045; December 31, 2016 -- $3,138)	719,094	564,428
Inventories	483,158	385,345
Other current assets	24,591	17,999
Total current assets	1,545,546	1,432,886
Investments in unconsolidated affiliates	161,883	191,418
Property, plant and equipment, net of accumulated depreciation (September 30, 2017 -- $505,100; December 31, 2016 -- $420,343)	600,067	513,757
Other assets
Goodwill	62,774	29,485
Other intangible assets, net	207,819	177,345
Deferred income tax assets-noncurrent	46,942	40,187
Deferred charges and other assets	31,521	24,412
Total other assets	349,056	271,429
Total assets	2,656,552	2,409,490
Current liabilities
Short-term borrowings and current portion of long-term debt	7,000	5,000
Accounts payable	415,709	378,029
Income taxes payable	32,006	23,784
Accrued expenses and other current liabilities	140,988	135,357
Total current liabilities	595,703	542,170
Noncurrent liabilities
Long-term debt, net of unamortized deferred financing fees	1,165,924	1,160,369
Deferred income tax liabilities - noncurrent	40,332	24,844
Other noncurrent obligations	284,551	237,054
Total noncurrent liabilities	1,490,807	1,422,267
Commitments and contingencies (Note 9)
Shareholders' equity
Ordinary shares, $0.01 nominal value, 50,000,000 shares authorized (September 30, 2017: 48,778 shares issued and 43,703 shares outstanding; December 31, 2016, 48,778 shares issued and 44,301 shares outstanding)	488	488
Additional paid-in-capital	576,790	573,662
Treasury shares, at cost (September 30, 2017: 5,075 shares; December 31, 2016: 4,477 shares)	(263,673)	(217,483)
Retained earnings	423,456	258,540
Accumulated other comprehensive loss	(167,019)	(170,154)
Total shareholders' equity	570,042	445,053
Total liabilities and shareholders' equity	$ 2,656,552	$ 2,409,490

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Consolidated Balance Sheets
Allowance for doubtful accounts	$ 6,045	$ 3,138
Accumulated depreciation	$ 505,100	$ 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	43,703,000	44,301,000
Treasury stock, shares	5,075,000	4,477,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Consolidated Statements of Operations
Net sales	$ 1,096,582	$ 935,410	$ 3,346,271	$ 2,799,188
Cost of sales	949,457	795,026	2,876,137	2,349,392
Gross profit	147,125	140,384	470,134	449,796
Selling, general and administrative expenses	65,732	73,900	181,552	180,635
Equity in earnings of unconsolidated affiliates	43,807	36,686	93,029	110,314
Operating income	125,200	103,170	381,611	379,475
Interest expense, net	18,436	18,832	55,355	56,542
Loss on extinguishment of long-term debt	65,260		65,260
Other expense (income), net	(11)	1,084	(6,072)	16,628
Income before income taxes	41,515	83,254	267,068	306,305
Provision for income taxes	8,300	16,000	56,400	66,500
Net income	$ 33,215	$ 67,254	$ 210,668	$ 239,805
Weighted average shares- basic	43,745	45,865	43,900	47,152
Net income per share- basic	$ 0.76	$ 1.47	$ 4.80	$ 5.09
Weighted average shares- diluted	44,782	46,961	45,046	48,041
Net income per share- diluted	$ 0.74	$ 1.43	$ 4.68	$ 4.99
Dividends per share	$ 0.36	$ 0.30	$ 1.02	$ 0.60

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Consolidated Statements of Comprehensive Income (Loss)
Net income	$ 33,215	$ 67,254	$ 210,668	$ 239,805
Other comprehensive income (loss), net of tax (tax amounts shown in millions below for the three and six months ended September 30, 2017 and 2016, respectively):
Cumulative translation adjustments	(1,561)	1,488	21,614	3,906
Net loss on cash flow hedges	(3,715)	(2,280)	(21,491)	(3,676)
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)	840	533	3,012	1,612
Total other comprehensive income (loss), net of tax	(4,436)	(259)	3,135	1,042
Comprehensive income	$ 28,779	$ 66,995	$ 213,803	$ 240,847

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 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	Treasury Shares	Accumulated Other Comprehensive Income (Loss)	Retained Earnings (Accumulated Deficit).	Total
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of new accounting standard		$ 915			$ (915)
Balance at beginning of period at Dec. 31, 2015	$ 488	556,532		$ (149,717)	(18,289)	$ 389,014
Balance at beginning of period, shares at Dec. 31, 2015	48,778
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income					239,805	239,805
Other comprehensive income				1,042		1,042
Stock-based compensation		14,057	$ 914			14,971
Stock-based compensation, shares from treasury stock	25		(25)
Purchase of treasury shares			$ (194,079)			(194,079)
Purchase of treasury shares, shares	(4,150)		4,150
Dividends on ordinary shares					(27,316)	(27,316)
Balance at end of period at Sep. 30, 2016	$ 488	571,504	$ (193,165)	(148,675)	193,285	423,437
Balance at end of period, shares at Sep. 30, 2016	44,653		4,125
Balance at beginning of period at Jun. 30, 2016				(148,416)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income						67,254
Other comprehensive income						(259)
Balance at end of period at Sep. 30, 2016	$ 488	571,504	$ (193,165)	(148,675)	193,285	423,437
Balance at end of period, shares at Sep. 30, 2016	44,653		4,125
Balance at beginning of period at Dec. 31, 2016	$ 488	573,662	$ (217,483)	(170,154)	258,540	$ 445,053
Balance at beginning of period, shares at Dec. 31, 2016	44,301		4,477			44,301
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income					210,668	$ 210,668
Other comprehensive income				3,135		3,135
Stock-based compensation		3,128	$ 15,674			18,802
Stock-based compensation, shares from treasury stock	440		(440)
Purchase of treasury shares			$ (61,864)			(61,864)
Purchase of treasury shares, shares	(1,038)		1,038
Dividends on ordinary shares					(45,752)	(45,752)
Balance at end of period at Sep. 30, 2017	$ 488	576,790	$ (263,673)	(167,019)	423,456	$ 570,042
Balance at end of period, shares at Sep. 30, 2017	43,703		5,075			43,703
Balance at beginning of period at Jun. 30, 2017				(162,583)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income						$ 33,215
Other comprehensive income						(4,436)
Balance at end of period at Sep. 30, 2017	$ 488	$ 576,790	$ (263,673)	$ (167,019)	$ 423,456	$ 570,042
Balance at end of period, shares at Sep. 30, 2017	43,703		5,075			43,703

Consolidate Statements of Share

Consolidate Statements of Shareholders' Equity (Parenthetical)) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Consolidated Statement of Stockholders' Equity
Dividends per share	$ 0.36	$ 0.30	$ 1.02	$ 0.60

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities
Net income	$ 210,668	$ 239,805
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	80,220	71,744
Amortization of deferred financing fees and issuance discount	3,968	4,469
Deferred income tax	(2,636)	9,895
Stock-based compensation expense	10,752	14,842
Earnings of unconsolidated affiliates, net of dividends	(4,097)	(8,972)
Unrealized net losses (gains) on foreign exchange forward contracts	(2,804)	3,533
Loss on extinguishment of long-term debt	65,260
Loss (gain) on sale of businesses and other assets	(10,473)	13,091
Impairment charges	4,293	14,310
Changes in assets and liabilities
Accounts receivable	(92,776)	(30,229)
Inventories	(57,315)	(27,605)
Accounts payable and other current liabilities	(989)	23,138
Income taxes payable	6,297	3,973
Other assets, net	(14,407)	(18,426)
Other liabilities, net	(1,116)	11,130
Cash provided by operating activities	194,845	324,698
Cash flows from investing activities
Capital expenditures	(108,875)	(82,678)
Cash paid to acquire a business, net of cash acquired	(79,650)
Proceeds from the sale of businesses and other assets	46,166	174
Distributions from unconsolidated affiliates	857	4,809
Cash used in investing activities	(141,502)	(77,695)
Cash flows from financing activities
Deferred financing fees	(19,175)
Short term borrowings, net	(191)	(126)
Purchase of treasury shares	(65,225)	(194,079)
Dividends paid	(42,231)	(13,920)
Proceeds from exercise of option awards	8,349	203
Withholding taxes paid on restricted share units	(302)	(74)
Net proceeds from issuance of 2024 Term Loan B	700,000
Repayments of 2021 Term Loan B	(492,500)	(3,750)
Net proceeds from issuance of 2025 Senior Notes	500,000
Repayments of 2022 Senior Notes	(745,950)
Prepayment penalty on long-term debt	(52,978)
Cash used in financing activities	(210,203)	(211,746)
Effect of exchange rates on cash	10,449	(231)
Net change in cash and cash equivalents	(146,411)	35,026
Cash and cash equivalents, beginning of period	465,114	431,261
Cash and cash equivalents, end of period	$ 318,703	$ 466,287

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 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 September 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 14 for further information.

Recent Accounting Guidance

Recent Accounting Guidance	9 Months Ended
	Sep. 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 identified its major revenue streams, which are concentrated within individual product sales within each of our reportable segments. As a result of this work, 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 processes, information technology, and controls resulting from the adoption of this new standard. Additionally, while our final assessment has not been completed, we continue to progress in the quantification of the impacts that this standard will have on our consolidated financial statements and are refining certain estimates that will be used in order to calculate such impacts. 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. Additionally, the FASB has issued further guidance related to the presentation of restricted cash on the consolidated statements of cash flows. The Company adopted this guidance effective September 30, 2017. The most significant impact of this adoption to the Company was the requirement to classify debt prepayment or extinguishment costs, which the Company had historically classified within cash flows from operating activities, as financing cash outflows. This change is reflected in the Company’s condensed consolidated statement of cash flows for the nine months ended September 30, 2017, including the impacts of the Company’s debt refinancing during the third quarter of 2017 (refer to Note 5 for further information). While this adoption was applied using the retrospective approach, there were no transactions during the nine months ended September 30, 2016 that required the condensed consolidated statement of cash flows for that period to be recast. 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 periodic 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. In August 2017, the FASB issued significant amendments to existing hedge accounting guidance. Among other things, this guidance will make more financial and nonfinancial hedging strategies eligible for hedge accounting, amend presentation and disclosure requirements, and change how companies assess effectiveness. This guidance is required for public companies for annual and interim periods beginning after December 15, 2018, with early adoption permitted. The Company is currently assessing the timing and related impact of adopting this guidance on its financial position and results of operations.

Investments in Unconsolidated A

Investments in Unconsolidated Affiliates	9 Months Ended
	Sep. 30, 2017
Investments in Unconsolidated Affiliates
Investments in Unconsolidated Affiliates	NOTE 3—INVESTMENTS IN UNCONSOLIDATED AFFILIATES During the nine months ended September 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 Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Sales $ 458,744 $ 460,305 $ 1,369,572 $ 1,241,908 Gross profit $ 90,594 $ 84,095 $ 176,352 $ 240,366 Net income $ 81,059 $ 65,041 $ 141,508 $ 188,853 Americas Styrenics As of September 30, 2017 and December 31, 2016, respectively, the Company’s investment in Americas Styrenics was $161.9 million and $149.7 million, which was $49.1 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 3.1 years as of September 30, 2017. The Company received dividends from Americas Styrenics of $35.0 million and $80.0 million during the three and nine months ended September 30, 2017, respectively, compared to $40.0 million and $100.0 million during the three and nine months ended September 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 nine months ended September 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 September 30, 2017. The Company received dividends from Sumika Styron Polycarbonate of zero and $9.8 million during the three and nine months ended September 30, 2017, respectively, compared to zero and $6.2 million during the three and nine months ended September 30, 2016, respectively. The dividend received during the nine months ended September 30, 2017 from Sumika Styron Polycarbonate related to the Company’s proportionate share of earnings for the year ended December 31, 2016.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2017
Inventories
Inventories	NOTE 4—INVENTORIES Inventories consisted of the following: September 30, December 31, 2017 2016 Finished goods $ 239,663 $ 187,577 Raw materials and semi-finished goods 211,186 168,804 Supplies 32,309 28,964 Total $ 483,158 $ 385,345

Debt

Debt	9 Months Ended
	Sep. 30, 2017
Debt
Debt	NOTE 5—DEBT Refer to discussion below for details of the Company’s debt refinancing that occurred during the third quarter of 2017. For definitions of capitalized terms not included herein, refer to the Annual Report. The Company was in compliance with all debt related covenants as of September 30, 2017 and December 31, 2016. As of September 30, 2017 and December 31, 2016, debt consisted of the following: September 30, 2017 Interest Rate as of September 30, 2017 Maturity Carrying Unamortized (1) Total Debt, Senior Credit Facility 2022 Revolving Facility (2) Various September 2022 $ — $ — $ — 2024 Term Loan B (3) 3.735% September 2024 700,000 (18,957) 681,043 2025 Senior Notes 5.375% September 2025 500,000 (9,600) 490,400 Accounts Receivable Securitization Facility (4) Various May 2019 — — — Other indebtedness Various Various 1,481 — 1,481 Total debt $ 1,201,481 $ (28,557) $ 1,172,924 Less: current portion (7,000) Total long-term debt, net of unamortized deferred financing fees $ 1,165,924 December 31, 2016 Interest Rate as of December 31, 2016 Maturity Carrying Unamortized (1) Total Debt, 2020 Senior Credit Facility 2020 Revolving Facility Various May 2020 $ — $ — $ — 2021 Term Loan B 4.250% November 2021 491,545 (9,159) 482,386 2022 Senior Notes USD Notes 6.750% May 2022 300,000 (5,726) 294,274 Euro Notes 6.375% May 2022 394,275 (7,157) 387,118 Accounts Receivable Securitization Facility Various May 2019 — — — Other indebtedness Various Various 1,591 — 1,591 Total debt $ 1,187,411 $ (22,042) $ 1,165,369 Less: current portion (5,000) Total long-term debt, net of unamortized deferred financing fees $ 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 $357.2 million (net of $17.8 million outstanding letters of credit) of funds available for borrowing under this facility as of September 30, 2017. Additionally, the Company is required to pay a quarterly commitment fee in respect of any unused commitments under this facility equal to 0.375% per annum. (3) The 2024 Term Loan B bears an interest rate of LIBOR plus 2.50%, subject to a 0.00% LIBOR floor. As of September 30, 2017, $7.0 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 September 30, 2017, the Company had approximately $148.8 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%. 2020 Senior Credit Facility On May 5, 2015, the Company entered into a credit agreement which included $825.0 million of senior secured financing (the “2020 Senior Credit Facility”), inclusive of a $325.0 million revolving credit facility maturing in May 2020 (the “2020 Revolving Facility”) and a $500.0 million senior secured term loan B facility maturing in November 2021 (the “2021 Term Loan B”). In September 2017, upon completion of the refinancing transactions discussed below, the Company terminated the 2020 Senior Credit Facility. Prior to this termination, the Company had no outstanding borrowings under the 2020 Revolving Facility and had $490.0 million outstanding under the 2021 Term Loan B, excluding unamortized original issue discount. As a result of this termination, the Company recognized a $0.8 million loss on extinguishment of long-term debt, comprised entirely of the write-off of a portion of the existing unamortized deferred financing fees and unamortized original issue discount related to the 2021 Term Loan B. The remaining unamortized deferred financing fees and unamortized original issue discount for both the 2020 Revolving Facility and 2021 Term Loan B remain capitalized and will be amortized along with new deferred financing fees over the life of the new facilities, discussed in further detail below. Senior Credit Facility On September 6, 2017, Trinseo Materials Operating S.C.A. and Trinseo Materials Finance, Inc. (together, the “Borrowers” or “Issuers”), both wholly-owned subsidiaries of the Company, entered into a senior secured credit agreement (the “Credit Agreement”), which provides senior secured financing of up to $1,075.0 million (the “Senior Credit Facility”). The Senior Credit Facility provides for senior secured financing consisting of a (i) $375.0 million revolving credit facility, with a $25.0 million swingline subfacility and a $35.0 million letter of credit subfacility maturing in September 2022 (the “2022 Revolving Facility”) and a (ii) $700.0 million senior secured term loan B facility maturing in September 2024 (the “2024 Term Loan B”). Amounts under the 2022 Revolving Facility are available in U.S. dollars and euros. The 2024 Term Loan B bears an interest rate of LIBOR plus 2.50%, subject to a 0.00% LIBOR floor. Further, the 2024 Term Loan B requires scheduled quarterly payments in amounts equal to 0.25% of the original principal amount of the 2024 Term Loan B, with the balance to be paid at maturity. Loans under the 2022 Revolving Facility, at the Borrowers’ option, may be maintained as (a) LIBO rate loans, which bear interest at a rate per annum equal to the LIBO rate plus the applicable margin (as defined in the Credit Agreement), if applicable, or (b) base rate loans which shall bear interest at a rate per annum equal to the base rate plus the applicable margin (as defined in the Credit Agreement). The Senior Credit Facility is collateralized by a security interest in substantially all of the assets of the Borrowers, and the guarantors thereunder, including Trinseo Materials S.à r.l., certain Luxembourg subsidiaries and certain foreign subsidiaries organized in the United States, The Netherlands, Hong Kong, Singapore, Ireland, Germany and Switzerland. The Senior Credit Facility requires the Borrowers and their restricted subsidiaries to comply with customary affirmative, negative and financial covenants, including limitations on their abilities to incur liens; make certain loans and investments; incur additional debt (including guarantees or other contingent obligations); merge, consolidate liquidate or dissolve; transfer or sell assets; pay dividends and other distributions to shareholders or make certain other restricted payments; enter into transactions with affiliates; restrict any restricted subsidiary from paying dividends or making other distributions or agree to certain negative pledge clauses; materially alter the business we conduct; prepay certain other indebtedness; amend certain material documents; and change our fiscal year. The 2022 Revolving Facility contains a financial covenant that requires compliance with a springing first lien net leverage ratio test. If the outstanding balance under the 2022 Revolving Facility exceeds 30% of the $375.0 million borrowing capacity (excluding undrawn letters of credit up to $10.0 million and cash collateralized letters of credit) at a quarter end, then the Borrowers’ first lien net leverage ratio may not exceed 2.00 to 1.00. As of September 30, 2017, the Company was in compliance with all debt covenant requirements under the Senior Credit Facility. Fees incurred in connection with the issuance of the 2024 Term Loan B were $12.3 million. Due to a portion of the 2024 Term Loan B meeting the criteria for modification accounting, $1.2 million of these fees were expensed and included within “Other expense (income), net” in the condensed consolidated statement of operations for the three and nine months ended September 30, 2017. The remaining $11.1 million of fees were capitalized and recorded within “Long-term debt, net of unamortized deferred financing fees” on the condensed consolidated balance sheet, to be amortized along with the remaining $8.1 million of unamortized deferred financing fees from the 2021 Term Loan B. Capitalized fees related to the 2024 Term Loan B are being amortized over the 7.0 year term of the facility using the effective interest method. Fees incurred in connection with the issuance of the 2022 Revolving Facility were $0.8 million and were capitalized and recorded within “Deferred charges and other assets” in the condensed consolidated balance sheets. The new capitalized fees related to the 2022 Revolving Facility (along with $4.0 million of unamortized deferred financing fees from the 2020 Revolving Facility) are being amortized over the 5.0 year term of the facility using the straight-line method. Amortization of deferred financing fees are recorded within “Interest expense, net” in the condensed consolidated statements of operations. 2022 Senior Notes In May 2015, the Company issued $300.0 million aggregate principal amount of 6.750% senior notes due May 1, 2022 (the “USD Notes”) and €375.0 million aggregate principal amount of 6.375% senior notes due May 1, 2022 (the “Euro Notes”, and together with the USD Notes, the “2022 Senior Notes”). On September 7, 2017, using the net proceeds from the issuance of the 2024 Term Loan B, together with the net proceeds from the issuance of the 2025 Senior Notes (defined and discussed below), and available cash, the Company redeemed all outstanding borrowings under the 2022 Senior Notes, totaling $746.0 million in USD-equivalent principal, together with a total combined call premium of $53.0 million (with a redemption price of approximately 106.572% on the USD Notes and a redemption price of approximately 107.459% on the Euro Notes), and accrued and unpaid interest thereon of $17.0 million, using applicable foreign exchange rates. As a result of this redemption, during the three months ended September 30, 2017, the Company recorded a loss on extinguishment of long-term debt of $64.5 million, which includes the above $53.0 million call premium and an $11.5 million write-off of unamortized deferred financing fees related to the 2022 Senior Notes. 2025 Senior Notes On August 29, 2017, the Issuers executed an indenture pursuant to which they issued $500.0 million aggregate principal amount of 5.375% senior notes due 2025 (the “2025 Senior Notes”) in a 144A private transaction exempt from the registration requirements of the Securities Act of 1933, as amended. Interest on the 2025 Senior Notes is payable semi-annually on May 3 and November 3 of each year, commencing on May 3, 2018. The 2025 Senior Notes mature on September 1, 2025. At any time prior to September 1, 2020, the Issuers may redeem the 2025 Senior Notes in whole or in part, at their option, at a redemption price equal to 100% of the principal amount of such notes plus the relevant applicable premium as of, and accrued and unpaid interest to, but not including, the redemption date. At any time and from time to time after September 1, 2020, the Issuers may redeem the 2025 Senior Notes, in whole or in part, at a redemption price equal to the percentage of principal amount set forth below plus accrued and unpaid interest, if any, on the notes redeemed to, but not including, the redemption date: 12-month period commencing September 1 in Year Percentage 2020 102.688 % 2021 101.792 % 2022 100.896 % 2023 and thereafter 100.000 % At any time prior to September 1, 2020, the Issuers may redeem up to 40% of the aggregate principal amount of the 2025 Senior Notes at a redemption price equal to 105.375%, plus accrued and unpaid interest to, but not including, the redemption date, with the aggregate gross proceeds from certain equity offerings. The 2025 Senior Notes are the Issuers’ senior unsecured obligations and rank equally in right of payment with all of the Issuers’ existing and future indebtedness that is not expressly subordinated in right of payment thereto. The 2025 Senior Notes will be senior in right of payment to any future indebtedness that is expressly subordinated in right of payment thereto and effectively junior to (a) the Issuers’ existing and future secured indebtedness, including the Company’s accounts receivable facility and the Issuers’ Senior Credit Facility (discussed above), to the extent of the value of the collateral securing such indebtedness and (b) all existing and future liabilities of the Issuers’ non-guarantor subsidiaries. The Indenture contains customary covenants that, among other things, limit the Issuers’ and certain of their subsidiaries’ ability to incur additional indebtedness and guarantee indebtedness; pay dividends on, redeem or repurchase capital stock; make investments; prepay certain indebtedness; create liens; enter into transactions with the Issuers’ affiliates; designate the Issuers’ subsidiaries as Unrestricted Subsidiaries (as defined in the Indenture); and consolidate, merge, or transfer all or substantially all of the Issuers’ assets. The covenants are subject to a number of exceptions and qualifications. Certain of these covenants will be suspended during any period of time that (1) the 2025 Senior Notes have investment grade ratings (as defined in the Indenture) and (2) no default has occurred and is continuing under the Indenture. In the event that the 2025 Senior Notes are downgraded to below an investment grade rating, the Issuers and certain subsidiaries will again be subject to the suspended covenants with respect to future events. As of September 30, 2017, the Company was in compliance with all debt covenant requirements under the Indenture. Fees and expenses incurred in connection with the issuance of the 2025 Senior Notes were $9.7 million, which were capitalized and recorded within “Long-term debt, net of unamortized deferred financing fees” on the condensed consolidated balance sheet, and are being amortized into “Interest expense, net” in the condensed consolidated statements of operations over their 8.0 year term using the effective interest method.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets.
Goodwill and Intangible Assets	NOTE 6—GOODWILL AND INTANGIBLE ASSETS Goodwill The following table shows changes in the carrying amount of goodwill by segment from December 31, 2016 to September 30, 2017: Performance Materials Basic Plastics & Feedstocks Latex Synthetic Performance Basic Americas Binders Rubber Plastics Plastics Feedstocks Styrenics Total Balance at December 31, 2016 $ 11,544 $ 8,177 $ 4,210 $ 5,554 $ — $ — $ 29,485 Acquisition (Note 13) — — 28,598 — — — 28,598 Foreign currency impact 1,415 1,002 1,592 682 — — 4,691 Balance at September 30, 2017 $ 12,959 $ 9,179 $ 34,400 $ 6,236 $ — $ — $ 62,774 Other Intangible Assets The following table provides information regarding the Company’s other intangible assets as of September 30, 2017 and December 31, 2016, respectively: September 30, 2017 December 31, 2016 Estimated Gross Gross Useful Life Carrying Accumulated Carrying Accumulated (Years) Amount Amortization Net Amount Amortization Net Developed technology (1) 9 - 15 $ 198,535 $ (91,078) $ 107,457 $ 166,230 $ (72,159) $ 94,071 Customer Relationships (1) 19 14,520 (171) 14,349 — — — Manufacturing Capacity Rights 6 22,426 (12,728) 9,698 19,977 (8,908) 11,069 Software 5 - 10 87,412 (22,617) 64,795 82,275 (15,095) 67,180 Software in development N/A 8,617 — 8,617 4,751 — 4,751 Other (1) 3 3,056 (153) 2,903 274 — 274 Total $ 334,566 $ (126,747) $ 207,819 $ 273,507 $ (96,162) $ 177,345 (1) Balances as of September 30, 2017 include assets acquired related to the acquisition of API Applicazioni Plastiche Industriali S.p.A (“API Plastics”). Refer to Note 13 for further information. Amortization expense on other intangible assets totaled $7.2 million and $19.6 million for the three and nine months ended September 30, 2017, respectively, and $5.0 million and $15.2 million for the three and nine months ended September 30, 2016. In addition to the significant accounting policies disclosed in Note 2 in our Annual Report, Basis of Presentation and Summary of Significant Accounting Policies, the Company notes the following significant accounting policies related to certain definite-lived intangible assets, for which we had substantial activity during the quarter ended September 30, 2017 as a result of the API Plastics acquisition. Developed Technology Acquired developed technology is recorded at fair value upon acquisition and is amortized using the straight-line method over the estimated useful life ranging from 9 years to 15 years. We determine amortization periods for developed technology based on our assessment of various factors impacting estimated useful lives and timing and extent of estimated cash flows of the acquired assets. This includes estimates of expected period of future economic benefit and competitive advantage related to existing processes and procedures at the date of acquisition. Significant changes to any of these factors may result in a reduction in the useful life of these assets. Customer Relationships Customer relationships are recorded at fair value upon acquisition and are amortized using the straight-line method over the estimated useful life of 19 years. We determine amortization periods for customer relationships based on our assessment of various factors impacting estimated useful lives and timing and extent of estimated cash flows of the acquired assets. This includes estimates of expected period of future economic benefit and customer retention rates. Significant changes to any of these factors may result in a reduction in the useful life of these assets.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2017
Derivative Instruments [Abstract]
Derivative Instruments	NOTE 7—DERIVATIVE INSTRUMENTS The Company’s ongoing business operations expose it to various risks, including fluctuating foreign exchange rates and interest rate risk. To manage these risks, the Company periodically enters into derivative financial instruments, such as foreign exchange forward contracts and interest rate swap agreements. 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 September 30, 2017, the Company had open foreign exchange forward contracts with a notional U.S. dollar equivalent absolute value of $327.9 million. The following table displays the notional amounts of the most significant net foreign exchange hedge positions outstanding as of September 30, 2017. September 30, Buy / (Sell) 2017 Euro $ (161,885) Chinese Yuan $ (58,335) Indonesian Rupiah $ (29,493) Swiss Franc $ 16,762 Korean Won $ (10,983) 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 September 30, 2017 have maturities occurring over a period of 15 months, and have a net notional U.S. dollar equivalent of $196.5 million. Interest Rate Swaps As discussed in Note 5, on September 6, 2017, the Company issued the 2024 Term Loan B, which bears an interest rate of LIBOR plus 2.50%, subject to a 0.00% LIBOR floor. In order to reduce the variability in interest payments associated with the Company’s variable rate debt, during the third quarter of 2017, the Company entered into certain interest rate swap agreements to convert a portion of these variable rate borrowings into a fixed rate obligation. These interest rate swap agreements are designated as cash flow hedges, and as such, the contracts are marked-to-market at each reporting date and any unrealized gains or losses are included in AOCI to the extent effective, and reclassified to interest expense in the period during which the transaction affects earnings or it becomes probable that the forecasted transaction will not occur. As of September 30, 2017, the Company had open interest rate swap agreements with a net notional U.S. dollar equivalent of $200.0 million which had an effective date of September 29, 2017 and mature over a period of five years. Net Investment Hedge Through August 31, 2017, the Company had designated a portion ( €280 million) of the original principal amount of the Company’s previous €375.0 million Euro Notes as a hedge of the foreign currency exposure of the Issuers’ net investment in certain European subsidiaries. Effective September 1, 2017, the Company de-designated the Euro Notes as a net investment hedge of the Issuers’ net investment in certain European subsidiaries, as the Euro Notes were redeemed on September 7, 2017 (refer to Note 5 for further information). Through the date of de-designation, this hedge was deemed to be highly effective, and changes in the Euro Notes’ carrying value resulting from fluctuations in the euro exchange rate were recorded as cumulative foreign currency translation loss of $24.1 million within AOCI as of September 30, 2017. On August 29, 2017, the Issuers executed an indenture pursuant to which they issued the $500.0 million 5.375% 2025 Senior Notes (refer to Note 5 for further information). Subsequently, on September 1, 2017, the Company entered into certain fixed-for-fixed cross currency swaps (“CCS”), swapping USD principal and interest payments on the newly issued 2025 Senior Notes for euro-denominated payments . Under the terms of the CCS, the Company has notionally exchanged $500.0 million at an interest rate of 5.375% for €420 million at a weighted-average interest rate of 3.45% for approximately five years. Effective September 1, 2017, the Company designated the full notional amount of the CCS (€420 million) as a hedge of the Issuers’ net investment in certain European subsidiaries. As the CCS were deemed to be highly effective hedges, changes in the fair value of the CCS were recorded as cumulative foreign currency translation loss of $7.1 million within AOCI as of September 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 September 30, Statement of Operations 2017 2016 2017 2016 Classification Designated as Cash Flow Hedges Foreign exchange cash flow hedges $ (4,458) $ (2,280) $ (2,666) $ 245 Cost of sales Interest rate swaps 743 — (6) — Interest expense, net Total $ (3,715) $ (2,280) $ (2,672) $ 245 Net Investment Hedges Euro Notes $ (13,924) $ (2,128) $ — $ — Cross-currency swaps (CCS) (7,112) — — — Total $ (21,036) $ (2,128) $ — $ — Not Designated as Cash Flow Hedges Foreign exchange forward contracts $ — $ — $ (6,526) $ 1,060 Other expense (income), net Total $ — $ — $ (6,526) $ 1,060 Gain (Loss) Recognized in Gain (Loss) Recognized in AOCI on Balance Sheet Statement of Operations Nine Months Ended September 30, Statement of Operations 2017 2016 2017 2016 Classification Designated as Cash Flow Hedges Foreign exchange cash flow hedges $ (22,234) $ (3,676) $ 794 $ 616 Cost of sales Interest rate swaps 743 — (6) — Interest expense, net Total $ (21,491) $ (3,676) $ 788 $ 616 Net Investment Hedges Euro Notes $ (38,584) $ (4,615) $ — $ — Cross-currency swaps (CCS) (7,112) — — — Total $ (45,696) $ (4,615) $ — $ — Not Designated as Cash Flow Hedges Foreign exchange forward contracts $ — $ — $ (17,036) $ 2,054 Other expense (income), net Total $ — $ — $ (17,036) $ 2,054 The Company recorded losses of $6.5 million and $17.0 million during the three and nine months ended September 30, 2017, respectively, and gains of $1.1 million and $2.1 million during the three and nine months ended September 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 $8.2 million and $16.1 million during the three and nine months ended September 30, 2017, respectively, and losses of $1.5 million and $4.1 million during the three and nine months ended September 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 September 30, 2017, the Company had no ineffectiveness related to its derivatives designated as hedging instruments. Further, the Company expects to reclassify in the next twelve months an approximate $10.3 million net loss from AOCI into earnings related to the Company’s outstanding foreign exchange cash flow hedges and interest rate swaps as of September 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: September 30, 2017 December 31, 2016 Foreign Foreign Interest Cross- Foreign Foreign Forward Cash Flow Rate Currency Forward Cash Flow Balance Sheet Classification Contracts Hedges Swaps Swaps Total Contracts Hedges Total Asset Derivatives: Accounts receivable, net of allowance $ 3,368 $ — $ — $ 6,420 $ 9,788 $ 1,664 $ 11,018 $ 12,682 Deferred charges and other assets — — 1,432 — 1,432 — — — Total asset derivatives $ 3,368 $ — $ 1,432 $ 6,420 $ 11,220 $ 1,664 $ 11,018 $ 12,682 Liability Derivatives: Accounts payable $ 117 $ 9,612 $ 688 $ — $ 10,417 $ 511 $ — $ 511 Other noncurrent obligations — 2,148 — 13,531 15,679 — — — Total liability derivatives $ 117 $ 11,760 $ 688 $ 13,531 $ 26,096 $ 511 $ — $ 511 Forward contracts, interest rate swaps, and cross currency swaps 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 derivative instruments 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 September 30, 2017 Derivative assets $ 12,793 $ (1,573) $ 11,220 Derivative liabilities 27,669 (1,573) 26,096 Balance at December 31, 2016 Derivative assets $ 23,401 $ (10,719) $ 12,682 Derivative liabilities 11,230 (10,719) 511 Refer to Notes 8 and 16 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	9 Months Ended
	Sep. 30, 2017
Fair Value Measurements
Fair Value Measurements	NOTE 8—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 September 30, 2017 and December 31, 2016. September 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 $ — $ 3,368 $ — $ 3,368 Foreign exchange forward contracts—(Liabilities) — (117) — (117) Foreign exchange cash flow hedges—(Liabilities) — (11,760) — (11,760) Interest rate swaps—Assets — 1,432 — 1,432 Interest rate swaps—(Liabilities) — (688) — (688) Cross-currency swaps—Assets — 6,420 — 6,420 Cross-currency swaps—(Liabilities) — (13,531) — (13,531) Total fair value $ — $ (14,876) $ — $ (14,876) 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, such as interest rate yield curves and currency spot and forward rates. Significant inputs to the valuation for these derivative instruments 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 September 30, 2017 and December 31, 2016, respectively: As of As of September 30, 2017 December 31, 2016 2025 Senior Notes $ 515,625 $ — 2022 Senior Notes USD Notes — 315,000 Euro Notes — 424,437 2024 Term Loan B 707,441 — 2021 Term Loan B — 498,041 Total fair value $ 1,223,066 $ 1,237,478 The fair value of the Company’s debt facilities above (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 September 30, 2017 and December 31, 2016.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Provision for Income Taxes
Income Taxes	NOTE 9—PROVISION FOR INCOME TAXES Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Effective income tax rate % % % % Provision for income taxes for the three and nine months ended September 30, 2017 were $8.3 million, resulting in an effective tax rate of 20.0%, and $56.4 million, resulting in an effective tax rate of 21.1%, respectively. Provision for income taxes for the three and nine months ended September 30, 2016 were $16.0 million, resulting in an effective tax rate of 19.2%, and $66.5 million, resulting in an effective tax rate of 21.7%, respectively. While the effective tax rate for the three and nine months ended September 30, 2017 and 2016 remained relatively consistent, the rate was impacted by non-recurring items in both periods. The effective tax rate for the three and nine months ended September 30, 2017 was impacted by payments made of $10.9 million related to a portion of the fees associated with the call premium paid to retire the Company’s 2022 Senior Notes, which are not anticipated to provide a tax benefit to the Company in the future (refer to Note 5 for further information). The effective tax rate for the three and nine months ended September 30, 2016 was impacted by an impairment charge of $0.3 million and $13.2 million, respectively, for the estimated loss on sale of Trinseo Brazil. Refer to Note 13 for further information.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure
Commitments and Contingencies	NOTE 10—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 September 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	9 Months Ended
	Sep. 30, 2017
Pension Plans and Other Postretirement Benefits
Pension Plans and Other Postretirement Benefits	NOTE 11—PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS The components of net periodic benefit costs for all significant plans were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Defined Benefit Pension Plans Service cost $ 5,000 $ 4,156 $ 14,291 $ 12,438 Interest cost 1,184 1,391 3,376 4,160 Expected return on plan assets (450) (492) (1,285) (1,474) Amortization of prior service credit (503) (488) (1,456) (1,459) Amortization of net loss 1,479 1,058 4,232 3,169 Net settlement and curtailment loss (1) — — 129 — Net periodic benefit cost $ 6,710 $ 5,625 $ 19,287 $ 16,834 (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 Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Other Postretirement Plans Service cost $ 53 $ 67 $ 161 $ 196 Interest cost 63 135 189 385 Amortization of prior service cost 26 25 77 77 Amortization of net gain (11) (43) (32) (128) Net periodic benefit cost $ 131 $ 184 $ 395 $ 530 As of September 30, 2017 and December 31, 2016, the Company’s benefit obligations included primarily in “Other noncurrent obligations” in the condensed consolidated balance sheets were $221.6 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 $1.7 million and $11.9 million during the three and nine months ended September 30, 2017, respectively. The Company expects to make additional cash contributions, including benefit payments to unfunded plans, of approximately $4.0 million to its defined benefit plans for the remainder of 2017.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2017
Stock-Based Compensation
Stock-Based Compensation	NOTE 12—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 nine months ended September 30, 2017 and 2016, as well as unrecognized compensation cost as of September 30, 2017: As of Three Months Ended Nine Months Ended September 30, 2017 September 30, September 30, Unrecognized Weighted 2017 2016 2017 2016 Compensation Cost Average Years RSUs $ 2,287 $ 1,476 $ 6,295 $ 3,826 $ 11,682 1.8 Options 454 733 3,661 4,867 1,659 1.4 PSUs 324 — 796 — 3,062 2.4 Restricted Stock Awards issued by Former Parent — 3,817 — 6,149 — — Total Stock-based Compensation Expense $ 3,065 $ 6,026 $ 10,752 $ 14,842 The following table summarizes awards granted and the respective weighted-average grant date fair value for the nine months ended September 30, 2017: Nine Months Ended September 30, 2017 Awards Granted Weighted Average Grant Date Fair Value per Award RSUs 110,767 $ 70.85 Options 192,546 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 nine months ended September 30, 2017: Nine Months Ended September 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 nine months ended September 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 nine months ended September 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.

Acquisitions and Divestitures

Acquisitions and Divestitures	9 Months Ended
	Sep. 30, 2017
Acquisitions and Divestitures
Acquisitions and Divestitures	NOTE 13—ACQUISITIONS AND DIVESTITURES Acquisition of API Plastics On July 10, 2017, the Company acquired 100% of the equity interests of API Applicazioni Plastiche Industriali S.p.A, or API Plastics, a privately held company. The gross purchase price for the acquisition was $90.5 million, inclusive of $8.4 million of cash acquired, yielding a net purchase price of $82.1 million. These amounts are subject to certain customary post-closing adjustments. During the nine months ended September 30, 2017, the Company paid $79.7 million for this acquisition, leaving an additional $2.4 million of unpaid purchase price accrued, which is expected to be paid during the fourth quarter of 2017. API Plastics, based in Mussolente, Italy, is a manufacturer of soft-touch polymers and bioplastics, such as thermoplastic elastomers (“TPEs”). TPEs can be 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. The Company allocated the purchase price of the acquisition to identifiable assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date. The excess of the purchase price over the aggregate fair values was recorded as goodwill. The Company calculated the fair value of the assets acquired using the income and cost approaches (or a combination thereof). Fair values were determined based on Level 3 inputs including estimated future cash flows, discount rates, royalty rates, growth rates, sales projections, retention rates and terminal values, all of which require significant management judgment. The purchase price allocation is based upon preliminary information and is subject to change if additional information about the facts and circumstances that existed at the acquisition date becomes available. Additional information is being gathered to finalize these preliminary measurements, particularly with respect to property, plant and equipment, intangible assets, inventory, deferred income taxes and income taxes payable. Further adjustments may be necessary as a result of the Company’s on-going assessment of additional information related to the fair value of assets acquired and liabilities assumed, including goodwill, during the measurement period. The following table summarizes the preliminary fair value measurement of the assets acquired and liabilities assumed as of the date of acquisition: July 10, 2017 Cash and cash equivalents $ 8,431 Accounts receivable 16,484 Inventories 10,282 Other current assets 728 Property, plant, and equipment 24,146 Other intangible assets (1) Customer relationships 14,000 Developed technology 11,500 Other amortizable intangible assets 2,700 Total fair value of assets acquired $ 88,271 Accounts payable $ 12,219 Income taxes payable 202 Accrued expenses and other current liabilities 1,416 Deferred income tax liabilities—noncurrent 11,262 Other noncurrent obligations 1,277 Total fair value of liabilities assumed $ 26,376 Net identifiable assets acquired $ 61,895 Goodwill (2) 28,598 Net assets acquired $ 90,493 (1) The expected lives of the acquired intangible assets are 19 years for customer relationships, 9 years for developed technology, and 3 years for other amortizable intangible assets. (2) Goodwill consists of expected operating synergies resulting from combining API Plastics with our existing businesses, and is allocated entirely to the Performance Plastics segment. None of the goodwill related to this acquisition will be deductible for income tax purposes. During the three and nine months ended September 30, 2017, transaction and integration costs related to advisory and professional fees incurred in conjunction with the API Plastics acquisition were $2.4 million and $3.5 million, respectively, and were included within “Selling, general and administrative expenses” in the condensed consolidated statement of operations. Additionally, during the three and nine months ended September 30, 2017, the Company recorded a $1.3 million non-cash fair value inventory adjustment related to the API Plastics acquisition which was included within “Cost of sales” in the condensed consolidated statement of operations. Pro forma results of operations information has not been presented, as the effect of the API Plastics acquisition is not material. The operating results of API Plastics are included within the Company's condensed consolidated statement of operations since the acquisition date of July 10, 2017 and were not material to the Company's results for the three and nine months ended September 30, 2017. Divestiture of Brazil Business 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 nine months ended September 30, 2016, the Company recorded impairment charges for the estimated loss on sale of approximately $0.3 million, and $13.2 million, respectively, within “Other expense (income), net” in the condensed consolidated statement of operations. The $13.2 million charge was allocated as $8.4 million, $4.2 million, and $0.6 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 $1.7 million received during the nine months ended September 30, 2017.

Segments

Segments	9 Months Ended
	Sep. 30, 2017
Segments
Segments	NOTE 14—SEGMENTS Effective October 1, 2016, the Company realigned its reporting segments to reflect the new model under which the business is 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 September 30, 2017 Sales to external customers $ 266,260 $ 118,684 $ 206,999 $ 393,622 $ 111,017 $ — $ — $ 1,096,582 Equity in earnings of unconsolidated affiliates — — — — — 43,807 — 43,807 Adjusted EBITDA (1) 32,343 (5,579) 29,436 42,062 45,597 43,807 Investment in unconsolidated affiliates — — — — — 161,883 — 161,883 Depreciation and amortization 6,046 8,960 4,102 4,274 3,603 — 2,191 29,176 September 30, 2016 Sales to external customers $ 242,600 $ 112,690 $ 175,355 $ 323,729 $ 81,036 $ — $ — $ 935,410 Equity in earnings of unconsolidated affiliates — — — 2,356 — 34,330 — 36,686 Adjusted EBITDA (1) 29,815 28,491 30,187 34,134 12,729 34,330 Investment in unconsolidated affiliates — — — 38,197 — 148,802 — 186,999 Depreciation and amortization 5,742 9,138 1,372 4,057 2,446 — 1,016 23,771 Performance Materials Basic Plastics & Feedstocks Latex Synthetic Performance Basic Americas Corporate Nine Months Ended Binders Rubber Plastics Plastics Feedstocks Styrenics Unallocated Total September 30, 2017 Sales to external customers $ 846,721 $ 456,055 $ 581,724 $ 1,156,831 $ 304,940 $ — $ — $ 3,346,271 Equity in earnings (losses) of unconsolidated affiliates — — — 810 — 92,219 — 93,029 Adjusted EBITDA (1) 105,228 68,381 79,799 112,691 86,342 92,219 Investment in unconsolidated affiliates — — — — — 161,883 — 161,883 Depreciation and amortization 17,469 26,027 8,947 12,094 9,172 — 6,511 80,220 September 30, 2016 Sales to external customers $ 684,552 $ 326,278 $ 527,875 $ 1,029,683 $ 230,800 $ — $ — $ 2,799,188 Equity in earnings (losses) of unconsolidated affiliates — — — 5,375 — 104,939 — 110,314 Adjusted EBITDA (1) 70,042 81,787 103,745 115,050 66,087 104,939 Investment in unconsolidated affiliates — — — 38,197 — 148,802 — 186,999 Depreciation and amortization 17,904 26,073 4,505 11,581 8,071 — 3,610 71,744 (1) The reconciliation of income before income taxes to Segment Adjusted EBITDA is as follows: Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Income before income taxes $ 41,515 $ 83,254 $ 267,068 $ 306,305 Interest expense, net 18,436 18,832 55,355 56,542 Depreciation and amortization 29,176 23,771 80,220 71,744 Corporate Unallocated (2) 21,864 26,397 70,888 72,766 Adjusted EBITDA Addbacks (3) 76,675 17,432 71,129 34,293 Segment Adjusted EBITDA $ 187,666 $ 169,686 $ 544,660 $ 541,650 (2) (3) Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2017 2016 2017 2016 Loss on extinguishment of long-term debt (Note 5) $ 65.3 $ — $ 65.3 $ — Net loss (gain) on disposition of businesses and assets (Notes 3 and 13) 0.2 0.3 (9.7) 13.2 Restructuring and other charges (Note 15) 1.5 16.8 4.8 18.6 Acquisition transaction and integration costs (Note 13) 3.8 — 4.9 — Asset impairment charges or write-offs (a) 4.3 — 4.3 — Other items (b) 1.6 0.3 1.6 2.5 Total Adjusted EBITDA Addbacks $ 76.7 $ 17.4 $ 71.2 $ 34.3 (a) Asset impairment charges for the three and nine months ended September 30, 2017 primarily relate to the impairment of certain long-lived assets in the Company’s Performance Plastics segment. (b) Other items for the three and nine months ended September 30, 2017 primarily relate to fees incurred in conjunction with the Company’s debt refinancing which was completed during the third quarter of 2017 (refer to Note 5 for further information). Other items for the three and nine months ended September 30, 2016 primarily relate to fees incurred in conjunction with the Company’s secondary offerings completed during these periods.

Restructuring

Restructuring	9 Months Ended
	Sep. 30, 2017
Restructuring
Restructuring	NOTE 15—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 nine months ended September 30, 2017 and 2016: Three Months Ended Nine Months Ended Cumulative September 30, September 30, Life-to-date 2017 2016 2017 2016 Charges Segment Terneuzen Compounding Restructuring (1) Asset impairment/accelerated depreciation $ 614 $ — $ 1,745 $ — $ 1,745 Employee termination benefits 170 — 326 — 326 Contract terminations — — 590 — 590 Decommissioning and other 192 — 192 — 818 Terneuzen Subtotal $ 976 $ — $ 2,853 $ — $ 3,479 Performance Plastics Livorno Plant Restructuring (2) Asset impairment/accelerated depreciation $ — $ 14,345 $ — $ 14,345 $ 14,345 Employee termination benefits 220 1,405 579 1,405 5,211 Contract terminations — 269 — 269 269 Decommissioning and other 633 64 1,695 64 2,372 Livorno Subtotal $ 853 $ 16,083 $ 2,274 $ 16,083 $ 22,197 Latex Binders Other Restructurings 288 759 1,453 2,989 Various Total Restructuring Charges $ 2,117 $ 16,842 $ 6,580 $ 19,072 (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 new facility is expected to start up by the end of 2018, with substantive production at the existing facility expected to cease by December 2018, followed by decommissioning activities in 2019. The Company expects to incur incremental accelerated depreciation charges of approximately $1.9 million through the end of 2018, as well as estimated decommissioning and other charges of approximately $1.2 million throughout 2019, the majority of which are expected to be paid in late 2018 and throughout 2019. (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 $0.2 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 September 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) September 30, 2017 Employee termination benefits $ 5,021 $ 2,492 $ (5,674) $ 1,839 Contract terminations 269 590 (122) 737 Decommissioning and other — 2,474 (2,474) — Total $ 5,290 $ 5,556 $ (8,270) $ 2,576 (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)	9 Months Ended
	Sep. 30, 2017
Shareholders' Equity.
Accumulated Other Comprehensive Income (Loss)	NOTE 16—ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The components of AOCI, net of income taxes, consisted of: Cumulative Pension & Other Translation Postretirement Benefit Cash Flow Three Months Ended September 30, 2017 and 2016 Adjustments Plans, Net Hedges, Net Total Balance as of June 30, 2017 $ (95,747) $ (61,332) $ (5,504) $ (162,583) Other comprehensive income (loss) (1,561) — (6,387) (7,948) Amounts reclassified from AOCI to net income (1) — 840 2,672 3,512 Balance as of September 30, 2017 $ (97,308) $ (60,492) $ (9,219) $ (167,019) Balance as of June 30, 2016 $ (106,702) $ (45,887) $ 4,173 $ (148,416) Other comprehensive income (loss) 1,488 — (2,035) (547) Amounts reclassified from AOCI to net income (1) — 533 (245) 288 Balance as of September 30, 2016 $ (105,214) $ (45,354) $ 1,893 $ (148,675) Cumulative Pension & Other Translation Postretirement Benefit Cash Flow Nine Months Ended September 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) 21,614 — (20,703) 911 Amounts reclassified from AOCI to net income (1) — 3,012 (788) 2,224 Balance as of September 30, 2017 $ (97,308) $ (60,492) $ (9,219) $ (167,019) Balance as of December 31, 2015 $ (109,120) $ (46,166) $ 5,569 $ (149,717) Other comprehensive income (loss) 3,906 (800) (3,060) 46 Amounts reclassified from AOCI to net income (1) — 1,612 (616) 996 Balance as of September 30, 2016 $ (105,214) $ (45,354) $ 1,893 $ (148,675) (1) The following is a summary of amounts reclassified from AOCI to net income for the three and nine months ended September 30, 2017 and 2016, respectively: Amount Reclassified from AOCI Amount Reclassified from AOCI AOCI Components Three Months Ended September 30, Nine Months Ended September 30, Statement of Operations 2017 2016 2017 2016 Classification Cash flow hedging items Foreign exchange cash flow hedges $ 2,666 $ (245) $ (794) $ (616) Cost of sales Interest rate swaps 6 — 6 — Interest expense, net Total before tax 2,672 (245) (788) (616) Tax effect — — — — Provision for income taxes Total, net of tax $ 2,672 $ (245) $ (788) $ (616) Amortization of pension and other postretirement benefit plan items Prior service credit $ (477) $ (461) $ (1,379) $ (1,382) (a) Net actuarial loss 1,697 1,250 4,886 3,770 (a) Net settlement and curtailment loss — — 648 — (a) Total before tax 1,220 789 4,155 2,388 Tax effect (380) (256) (1,143) (776) Provision for income taxes Total, net of tax $ 840 $ 533 $ 3,012 $ 1,612 (a) These AOCI components are included in the computation of net periodic benefit costs (see Note 11).

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share
Earnings Per Share	NOTE 17—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 nine months ended September 30, 2017 and 2016, respectively. Three Months Ended Nine Months Ended September 30, September 30, (in thousands, except per share data) 2017 2016 2017 2016 Earnings: Net income $ 33,215 $ 67,254 $ 210,668 $ 239,805 Shares: Weighted-average ordinary shares outstanding 43,745 45,865 43,900 47,152 Dilutive effect of RSUs, option awards, and PSUs 1,037 1,096 1,146 889 Diluted weighted-average ordinary shares outstanding 44,782 46,961 45,046 48,041 Income per share: Income per share—basic $ 0.76 $ 1.47 $ 4.80 $ 5.09 Income per share—diluted $ 0.74 $ 1.43 $ 4.68 $ 4.99 * Refer to Note 12 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 0.2 million for the both the three and nine months ended September 30, 2017, respectively, and zero for both the three and nine months ended September 30, 2016, respectively.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 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 September 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 14 for further information.

Investments in Unconsolidated28

Investments in Unconsolidated Affiliates (Tables)	9 Months Ended
	Sep. 30, 2017
Investments in Unconsolidated Affiliates
Summarized Financial Information of Unconsolidated Affiliates	Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Sales $ 458,744 $ 460,305 $ 1,369,572 $ 1,241,908 Gross profit $ 90,594 $ 84,095 $ 176,352 $ 240,366 Net income $ 81,059 $ 65,041 $ 141,508 $ 188,853

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2017
Inventories
Schedule of Inventories	September 30, December 31, 2017 2016 Finished goods $ 239,663 $ 187,577 Raw materials and semi-finished goods 211,186 168,804 Supplies 32,309 28,964 Total $ 483,158 $ 385,345

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Debt
Schedule of Debt	September 30, 2017 Interest Rate as of September 30, 2017 Maturity Carrying Unamortized (1) Total Debt, Senior Credit Facility 2022 Revolving Facility (2) Various September 2022 $ — $ — $ — 2024 Term Loan B (3) 3.735% September 2024 700,000 (18,957) 681,043 2025 Senior Notes 5.375% September 2025 500,000 (9,600) 490,400 Accounts Receivable Securitization Facility (4) Various May 2019 — — — Other indebtedness Various Various 1,481 — 1,481 Total debt $ 1,201,481 $ (28,557) $ 1,172,924 Less: current portion (7,000) Total long-term debt, net of unamortized deferred financing fees $ 1,165,924 December 31, 2016 Interest Rate as of December 31, 2016 Maturity Carrying Unamortized (1) Total Debt, 2020 Senior Credit Facility 2020 Revolving Facility Various May 2020 $ — $ — $ — 2021 Term Loan B 4.250% November 2021 491,545 (9,159) 482,386 2022 Senior Notes USD Notes 6.750% May 2022 300,000 (5,726) 294,274 Euro Notes 6.375% May 2022 394,275 (7,157) 387,118 Accounts Receivable Securitization Facility Various May 2019 — — — Other indebtedness Various Various 1,591 — 1,591 Total debt $ 1,187,411 $ (22,042) $ 1,165,369 Less: current portion (5,000) Total long-term debt, net of unamortized deferred financing fees $ 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 $357.2 million (net of $17.8 million outstanding letters of credit) of funds available for borrowing under this facility as of September 30, 2017. Additionally, the Company is required to pay a quarterly commitment fee in respect of any unused commitments under this facility equal to 0.375% per annum. (3) The 2024 Term Loan B bears an interest rate of LIBOR plus 2.50%, subject to a 0.00% LIBOR floor. As of September 30, 2017, $7.0 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 September 30, 2017, the Company had approximately $148.8 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%.
Redemption Price as Percentage of Principal Amount to Applicable Date of Redemption	12-month period commencing September 1 in Year Percentage 2020 102.688 % 2021 101.792 % 2022 100.896 % 2023 and thereafter 100.000 %

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets.
Changes in Carrying Amount of Goodwill, by Segment	Performance Materials Basic Plastics & Feedstocks Latex Synthetic Performance Basic Americas Binders Rubber Plastics Plastics Feedstocks Styrenics Total Balance at December 31, 2016 $ 11,544 $ 8,177 $ 4,210 $ 5,554 $ — $ — $ 29,485 Acquisition (Note 13) — — 28,598 — — — 28,598 Foreign currency impact 1,415 1,002 1,592 682 — — 4,691 Balance at September 30, 2017 $ 12,959 $ 9,179 $ 34,400 $ 6,236 $ — $ — $ 62,774
Schedule of Other Intangible Assets	September 30, 2017 December 31, 2016 Estimated Gross Gross Useful Life Carrying Accumulated Carrying Accumulated (Years) Amount Amortization Net Amount Amortization Net Developed technology (1) 9 - 15 $ 198,535 $ (91,078) $ 107,457 $ 166,230 $ (72,159) $ 94,071 Customer Relationships (1) 19 14,520 (171) 14,349 — — — Manufacturing Capacity Rights 6 22,426 (12,728) 9,698 19,977 (8,908) 11,069 Software 5 - 10 87,412 (22,617) 64,795 82,275 (15,095) 67,180 Software in development N/A 8,617 — 8,617 4,751 — 4,751 Other (1) 3 3,056 (153) 2,903 274 — 274 Total $ 334,566 $ (126,747) $ 207,819 $ 273,507 $ (96,162) $ 177,345 (1) Balances as of September 30, 2017 include assets acquired related to the acquisition of API Applicazioni Plastiche Industriali S.p.A (“API Plastics”). Refer to Note 13 for further information.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2017
Derivative Instruments [Abstract]
Notional Amounts of Most Significant Net Foreign Exchange Hedge Positions Outstanding	September 30, Buy / (Sell) 2017 Euro $ (161,885) Chinese Yuan $ (58,335) Indonesian Rupiah $ (29,493) Swiss Franc $ 16,762 Korean Won $ (10,983)
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 September 30, Statement of Operations 2017 2016 2017 2016 Classification Designated as Cash Flow Hedges Foreign exchange cash flow hedges $ (4,458) $ (2,280) $ (2,666) $ 245 Cost of sales Interest rate swaps 743 — (6) — Interest expense, net Total $ (3,715) $ (2,280) $ (2,672) $ 245 Net Investment Hedges Euro Notes $ (13,924) $ (2,128) $ — $ — Cross-currency swaps (CCS) (7,112) — — — Total $ (21,036) $ (2,128) $ — $ — Not Designated as Cash Flow Hedges Foreign exchange forward contracts $ — $ — $ (6,526) $ 1,060 Other expense (income), net Total $ — $ — $ (6,526) $ 1,060 Gain (Loss) Recognized in Gain (Loss) Recognized in AOCI on Balance Sheet Statement of Operations Nine Months Ended September 30, Statement of Operations 2017 2016 2017 2016 Classification Designated as Cash Flow Hedges Foreign exchange cash flow hedges $ (22,234) $ (3,676) $ 794 $ 616 Cost of sales Interest rate swaps 743 — (6) — Interest expense, net Total $ (21,491) $ (3,676) $ 788 $ 616 Net Investment Hedges Euro Notes $ (38,584) $ (4,615) $ — $ — Cross-currency swaps (CCS) (7,112) — — — Total $ (45,696) $ (4,615) $ — $ — Not Designated as Cash Flow Hedges Foreign exchange forward contracts $ — $ — $ (17,036) $ 2,054 Other expense (income), net Total $ — $ — $ (17,036) $ 2,054
Net Unrealized Gains and Losses Recorded in Consolidated Balance Sheets	September 30, 2017 December 31, 2016 Foreign Foreign Interest Cross- Foreign Foreign Forward Cash Flow Rate Currency Forward Cash Flow Balance Sheet Classification Contracts Hedges Swaps Swaps Total Contracts Hedges Total Asset Derivatives: Accounts receivable, net of allowance $ 3,368 $ — $ — $ 6,420 $ 9,788 $ 1,664 $ 11,018 $ 12,682 Deferred charges and other assets — — 1,432 — 1,432 — — — Total asset derivatives $ 3,368 $ — $ 1,432 $ 6,420 $ 11,220 $ 1,664 $ 11,018 $ 12,682 Liability Derivatives: Accounts payable $ 117 $ 9,612 $ 688 $ — $ 10,417 $ 511 $ — $ 511 Other noncurrent obligations — 2,148 — 13,531 15,679 — — — Total liability derivatives $ 117 $ 11,760 $ 688 $ 13,531 $ 26,096 $ 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 September 30, 2017 Derivative assets $ 12,793 $ (1,573) $ 11,220 Derivative liabilities 27,669 (1,573) 26,096 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)	9 Months Ended
	Sep. 30, 2017
Fair Value Measurements
Schedule of Assets and Liabilities at Fair Value on Recurring Basis	September 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 $ — $ 3,368 $ — $ 3,368 Foreign exchange forward contracts—(Liabilities) — (117) — (117) Foreign exchange cash flow hedges—(Liabilities) — (11,760) — (11,760) Interest rate swaps—Assets — 1,432 — 1,432 Interest rate swaps—(Liabilities) — (688) — (688) Cross-currency swaps—Assets — 6,420 — 6,420 Cross-currency swaps—(Liabilities) — (13,531) — (13,531) Total fair value $ — $ (14,876) $ — $ (14,876) 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 September 30, 2017 December 31, 2016 2025 Senior Notes $ 515,625 $ — 2022 Senior Notes USD Notes — 315,000 Euro Notes — 424,437 2024 Term Loan B 707,441 — 2021 Term Loan B — 498,041 Total fair value $ 1,223,066 $ 1,237,478

Provision for Income Taxes (Tab

Provision for Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2017
Provision for Income Taxes
Schedule of Effective Tax Rate	Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Effective income tax rate % % % %

Pension Plans and Other Postr35

Pension Plans and Other Postretirement Benefits (Tables)	9 Months Ended
	Sep. 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 Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Defined Benefit Pension Plans Service cost $ 5,000 $ 4,156 $ 14,291 $ 12,438 Interest cost 1,184 1,391 3,376 4,160 Expected return on plan assets (450) (492) (1,285) (1,474) Amortization of prior service credit (503) (488) (1,456) (1,459) Amortization of net loss 1,479 1,058 4,232 3,169 Net settlement and curtailment loss (1) — — 129 — Net periodic benefit cost $ 6,710 $ 5,625 $ 19,287 $ 16,834 (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 Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Other Postretirement Plans Service cost $ 53 $ 67 $ 161 $ 196 Interest cost 63 135 189 385 Amortization of prior service cost 26 25 77 77 Amortization of net gain (11) (43) (32) (128) Net periodic benefit cost $ 131 $ 184 $ 395 $ 530

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2017
Stock-Based Compensation
Summary of Stock-Based Compensation Expense and Unrecognized Compensation Cost	As of Three Months Ended Nine Months Ended September 30, 2017 September 30, September 30, Unrecognized Weighted 2017 2016 2017 2016 Compensation Cost Average Years RSUs $ 2,287 $ 1,476 $ 6,295 $ 3,826 $ 11,682 1.8 Options 454 733 3,661 4,867 1,659 1.4 PSUs 324 — 796 — 3,062 2.4 Restricted Stock Awards issued by Former Parent — 3,817 — 6,149 — — Total Stock-based Compensation Expense $ 3,065 $ 6,026 $ 10,752 $ 14,842
Summary of Awards Granted and Weighted Average Grant-Date Fair Value	Nine Months Ended September 30, 2017 Awards Granted Weighted Average Grant Date Fair Value per Award RSUs 110,767 $ 70.85 Options 192,546 20.61 PSUs 50,937 75.74
Summary of Weighted-average Assumptions	Nine Months Ended September 30, 2017 Expected term (in years) 5.50 Expected volatility 35.00 % Risk-free interest rate 2.19 % Dividend yield 2.00 %

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	9 Months Ended
	Sep. 30, 2017
API Applicazioni Plastiche Industriali S.p.A. [Member]
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	July 10, 2017 Cash and cash equivalents $ 8,431 Accounts receivable 16,484 Inventories 10,282 Other current assets 728 Property, plant, and equipment 24,146 Other intangible assets (1) Customer relationships 14,000 Developed technology 11,500 Other amortizable intangible assets 2,700 Total fair value of assets acquired $ 88,271 Accounts payable $ 12,219 Income taxes payable 202 Accrued expenses and other current liabilities 1,416 Deferred income tax liabilities—noncurrent 11,262 Other noncurrent obligations 1,277 Total fair value of liabilities assumed $ 26,376 Net identifiable assets acquired $ 61,895 Goodwill (2) 28,598 Net assets acquired $ 90,493 (1) The expected lives of the acquired intangible assets are 19 years for customer relationships, 9 years for developed technology, and 3 years for other amortizable intangible assets. (2) Goodwill consists of expected operating synergies resulting from combining API Plastics with our existing businesses, and is allocated entirely to the Performance Plastics segment. None of the goodwill related to this acquisition will be deductible for income tax purposes.

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 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 September 30, 2017 Sales to external customers $ 266,260 $ 118,684 $ 206,999 $ 393,622 $ 111,017 $ — $ — $ 1,096,582 Equity in earnings of unconsolidated affiliates — — — — — 43,807 — 43,807 Adjusted EBITDA (1) 32,343 (5,579) 29,436 42,062 45,597 43,807 Investment in unconsolidated affiliates — — — — — 161,883 — 161,883 Depreciation and amortization 6,046 8,960 4,102 4,274 3,603 — 2,191 29,176 September 30, 2016 Sales to external customers $ 242,600 $ 112,690 $ 175,355 $ 323,729 $ 81,036 $ — $ — $ 935,410 Equity in earnings of unconsolidated affiliates — — — 2,356 — 34,330 — 36,686 Adjusted EBITDA (1) 29,815 28,491 30,187 34,134 12,729 34,330 Investment in unconsolidated affiliates — — — 38,197 — 148,802 — 186,999 Depreciation and amortization 5,742 9,138 1,372 4,057 2,446 — 1,016 23,771 Performance Materials Basic Plastics & Feedstocks Latex Synthetic Performance Basic Americas Corporate Nine Months Ended Binders Rubber Plastics Plastics Feedstocks Styrenics Unallocated Total September 30, 2017 Sales to external customers $ 846,721 $ 456,055 $ 581,724 $ 1,156,831 $ 304,940 $ — $ — $ 3,346,271 Equity in earnings (losses) of unconsolidated affiliates — — — 810 — 92,219 — 93,029 Adjusted EBITDA (1) 105,228 68,381 79,799 112,691 86,342 92,219 Investment in unconsolidated affiliates — — — — — 161,883 — 161,883 Depreciation and amortization 17,469 26,027 8,947 12,094 9,172 — 6,511 80,220 September 30, 2016 Sales to external customers $ 684,552 $ 326,278 $ 527,875 $ 1,029,683 $ 230,800 $ — $ — $ 2,799,188 Equity in earnings (losses) of unconsolidated affiliates — — — 5,375 — 104,939 — 110,314 Adjusted EBITDA (1) 70,042 81,787 103,745 115,050 66,087 104,939 Investment in unconsolidated affiliates — — — 38,197 — 148,802 — 186,999 Depreciation and amortization 17,904 26,073 4,505 11,581 8,071 — 3,610 71,744 (1)
Reconciliation of IBT to Adjusted EBITDA	Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Income before income taxes $ 41,515 $ 83,254 $ 267,068 $ 306,305 Interest expense, net 18,436 18,832 55,355 56,542 Depreciation and amortization 29,176 23,771 80,220 71,744 Corporate Unallocated (2) 21,864 26,397 70,888 72,766 Adjusted EBITDA Addbacks (3) 76,675 17,432 71,129 34,293 Segment Adjusted EBITDA $ 187,666 $ 169,686 $ 544,660 $ 541,650 (2) (3) Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2017 2016 2017 2016 Loss on extinguishment of long-term debt (Note 5) $ 65.3 $ — $ 65.3 $ — Net loss (gain) on disposition of businesses and assets (Notes 3 and 13) 0.2 0.3 (9.7) 13.2 Restructuring and other charges (Note 15) 1.5 16.8 4.8 18.6 Acquisition transaction and integration costs (Note 13) 3.8 — 4.9 — Asset impairment charges or write-offs (a) 4.3 — 4.3 — Other items (b) 1.6 0.3 1.6 2.5 Total Adjusted EBITDA Addbacks $ 76.7 $ 17.4 $ 71.2 $ 34.3 (a) Asset impairment charges for the three and nine months ended September 30, 2017 primarily relate to the impairment of certain long-lived assets in the Company’s Performance Plastics segment. (b) Other items for the three and nine months ended September 30, 2017 primarily relate to fees incurred in conjunction with the Company’s debt refinancing which was completed during the third quarter of 2017 (refer to Note 5 for further information). Other items for the three and nine months ended September 30, 2016 primarily relate to fees incurred in conjunction with the Company’s secondary offerings completed during these periods.

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Sep. 30, 2017
Restructuring
Detail of Restructuring Charges	Three Months Ended Nine Months Ended Cumulative September 30, September 30, Life-to-date 2017 2016 2017 2016 Charges Segment Terneuzen Compounding Restructuring (1) Asset impairment/accelerated depreciation $ 614 $ — $ 1,745 $ — $ 1,745 Employee termination benefits 170 — 326 — 326 Contract terminations — — 590 — 590 Decommissioning and other 192 — 192 — 818 Terneuzen Subtotal $ 976 $ — $ 2,853 $ — $ 3,479 Performance Plastics Livorno Plant Restructuring (2) Asset impairment/accelerated depreciation $ — $ 14,345 $ — $ 14,345 $ 14,345 Employee termination benefits 220 1,405 579 1,405 5,211 Contract terminations — 269 — 269 269 Decommissioning and other 633 64 1,695 64 2,372 Livorno Subtotal $ 853 $ 16,083 $ 2,274 $ 16,083 $ 22,197 Latex Binders Other Restructurings 288 759 1,453 2,989 Various Total Restructuring Charges $ 2,117 $ 16,842 $ 6,580 $ 19,072 (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 new facility is expected to start up by the end of 2018, with substantive production at the existing facility expected to cease by December 2018, followed by decommissioning activities in 2019. The Company expects to incur incremental accelerated depreciation charges of approximately $1.9 million through the end of 2018, as well as estimated decommissioning and other charges of approximately $1.2 million throughout 2019, the majority of which are expected to be paid in late 2018 and throughout 2019. (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 $0.2 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) September 30, 2017 Employee termination benefits $ 5,021 $ 2,492 $ (5,674) $ 1,839 Contract terminations 269 590 (122) 737 Decommissioning and other — 2,474 (2,474) — Total $ 5,290 $ 5,556 $ (8,270) $ 2,576 (1) Includes primarily payments made against the existing accrual, as well as immaterial impacts of foreign currency remeasurement.

Accumulated Other Comprehensi40

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2017
Shareholders' Equity.
Components of AOCI, Net of Income Taxes	Cumulative Pension & Other Translation Postretirement Benefit Cash Flow Three Months Ended September 30, 2017 and 2016 Adjustments Plans, Net Hedges, Net Total Balance as of June 30, 2017 $ (95,747) $ (61,332) $ (5,504) $ (162,583) Other comprehensive income (loss) (1,561) — (6,387) (7,948) Amounts reclassified from AOCI to net income (1) — 840 2,672 3,512 Balance as of September 30, 2017 $ (97,308) $ (60,492) $ (9,219) $ (167,019) Balance as of June 30, 2016 $ (106,702) $ (45,887) $ 4,173 $ (148,416) Other comprehensive income (loss) 1,488 — (2,035) (547) Amounts reclassified from AOCI to net income (1) — 533 (245) 288 Balance as of September 30, 2016 $ (105,214) $ (45,354) $ 1,893 $ (148,675) Cumulative Pension & Other Translation Postretirement Benefit Cash Flow Nine Months Ended September 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) 21,614 — (20,703) 911 Amounts reclassified from AOCI to net income (1) — 3,012 (788) 2,224 Balance as of September 30, 2017 $ (97,308) $ (60,492) $ (9,219) $ (167,019) Balance as of December 31, 2015 $ (109,120) $ (46,166) $ 5,569 $ (149,717) Other comprehensive income (loss) 3,906 (800) (3,060) 46 Amounts reclassified from AOCI to net income (1) — 1,612 (616) 996 Balance as of September 30, 2016 $ (105,214) $ (45,354) $ 1,893 $ (148,675)
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Amount Reclassified from AOCI Amount Reclassified from AOCI AOCI Components Three Months Ended September 30, Nine Months Ended September 30, Statement of Operations 2017 2016 2017 2016 Classification Cash flow hedging items Foreign exchange cash flow hedges $ 2,666 $ (245) $ (794) $ (616) Cost of sales Interest rate swaps 6 — 6 — Interest expense, net Total before tax 2,672 (245) (788) (616) Tax effect — — — — Provision for income taxes Total, net of tax $ 2,672 $ (245) $ (788) $ (616) Amortization of pension and other postretirement benefit plan items Prior service credit $ (477) $ (461) $ (1,379) $ (1,382) (a) Net actuarial loss 1,697 1,250 4,886 3,770 (a) Net settlement and curtailment loss — — 648 — (a) Total before tax 1,220 789 4,155 2,388 Tax effect (380) (256) (1,143) (776) Provision for income taxes Total, net of tax $ 840 $ 533 $ 3,012 $ 1,612 (a) These AOCI components are included in the computation of net periodic benefit costs (see Note 11).

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share
Schedule of Earnings per Share Basic and Diluted	Three Months Ended Nine Months Ended September 30, September 30, (in thousands, except per share data) 2017 2016 2017 2016 Earnings: Net income $ 33,215 $ 67,254 $ 210,668 $ 239,805 Shares: Weighted-average ordinary shares outstanding 43,745 45,865 43,900 47,152 Dilutive effect of RSUs, option awards, and PSUs 1,037 1,096 1,146 889 Diluted weighted-average ordinary shares outstanding 44,782 46,961 45,046 48,041 Income per share: Income per share—basic $ 0.76 $ 1.47 $ 4.80 $ 5.09 Income per share—diluted $ 0.74 $ 1.43 $ 4.68 $ 4.99 * Refer to Note 12 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 0.2 million for the both the three and nine months ended September 30, 2017, respectively, and zero for both the three and nine months ended September 30, 2016, respectively.

Investments in Unconsolidated42

Investments in Unconsolidated Affiliates (Details) $ in Thousands	Jan. 31, 2017USD ($)	Sep. 30, 2017USD ($)item	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)item	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Investments in Unconsolidated Affiliates
Number of joint ventures | item		2		2
Investments in unconsolidated affiliates		$ 161,883	$ 186,999	$ 161,883	$ 186,999	$ 191,418
Americas Styrenics
Investments in Unconsolidated Affiliates
Investments in unconsolidated affiliates		161,900		161,900		149,700
Investment in unconsolidated affiliates-difference between carrying amount and underlying equity		$ 49,100		$ 49,100		$ 71,200
Percentage of ownership underlying net assets		50.00%		50.00%		50.00%
Amortized weighted average remaining useful life				P3Y1M6D
Dividends received from operating activities		$ 35,000	40,000	$ 80,000	100,000
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
Gain on sale				9,300
Dividends received from operating and investing activities		$ 0	$ 0	$ 9,800	$ 6,200

Investments in Unconsolidated43

Investments in Unconsolidated Affiliates - Summarized Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Summarized Financial Information, Net Income
Sales	$ 458,744	$ 460,305	$ 1,369,572	$ 1,241,908
Gross profit	90,594	84,095	176,352	240,366
Net income	$ 81,059	$ 65,041	$ 141,508	$ 188,853

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Inventories
Finished goods	$ 239,663	$ 187,577
Raw materials and semi-finished goods	211,186	168,804
Supplies	32,309	28,964
Total	$ 483,158	$ 385,345

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) $ in Thousands, € in Millions	Sep. 06, 2017USD ($)	Sep. 30, 2017USD ($)	Aug. 31, 2017USD ($)	Aug. 31, 2017EUR (€)	Aug. 29, 2017USD ($)	Dec. 31, 2016USD ($)	May 31, 2015	May 05, 2015USD ($)
Debt Instruments
Carrying amount		$ 1,201,481				$ 1,187,411
Unamortized deferred financing fees		(28,557)				(22,042)
Total Debt, Less Unamortized Deferred Financing Fees, Current and Noncurrent		1,172,924				1,165,369
Less: current portion		(7,000)				(5,000)
Total long-term debt, net of unamortized deferred financing fees		1,165,924				$ 1,160,369
Senior Credit Facility [Member]
Debt Instruments
Maximum borrowing capacity	$ 1,075,000							$ 825,000
2022 Revolving Facility
Debt Instruments
Funds available for borrowings		357,200
Letters of credit, amount outstanding		$ 17,800
Commitment fee (as a percent)		0.375%
Maximum borrowing capacity	375,000
2020 Revolving Facility
Debt Instruments
Carrying amount			$ 0
Maximum borrowing capacity								325,000
2024 Term Loan B
Debt Instruments
Interest rate		3.735%
Carrying amount		$ 700,000
Unamortized deferred financing fees		(18,957)
Total Debt, Less Unamortized Deferred Financing Fees, Current and Noncurrent		681,043
Less: current portion		$ (7,000)
Maximum borrowing capacity	$ 700,000
Debt instrument, margin rate	2.50%
Variable rate floor (as a percent)	0.00%
2024 Term Loan B | LIBOR [Member]
Debt Instruments
Debt instrument, margin rate	2.50%	2.50%
Variable rate floor (as a percent)	0.00%	0.00%
2021 Term Loan B
Debt Instruments
Interest rate						4.25%
Carrying amount						$ 491,545
Unamortized deferred financing fees						(9,159)
Total Debt, Less Unamortized Deferred Financing Fees, Current and Noncurrent			$ 490,000			$ 482,386
Maximum borrowing capacity								$ 500,000
2025 Senior Notes
Debt Instruments
Interest rate		5.375%			5.375%
Carrying amount		$ 500,000
Unamortized deferred financing fees		(9,600)
Total Debt, Less Unamortized Deferred Financing Fees, Current and Noncurrent		$ 490,400			$ 500,000
USD Notes
Debt Instruments
Interest rate						6.75%	6.75%
Carrying amount						$ 300,000
Unamortized deferred financing fees						(5,726)
Total Debt, Less Unamortized Deferred Financing Fees, Current and Noncurrent						$ 294,274
Euro Notes
Debt Instruments
Interest rate						6.375%	6.375%
Carrying amount						$ 394,275
Unamortized deferred financing fees						(7,157)
Total Debt, Less Unamortized Deferred Financing Fees, Current and Noncurrent				€ 375		387,118
Accounts Receivable Securitization Facility [Member]
Debt Instruments
Interest rate		0.00%
Carrying amount		$ 0
Unamortized deferred financing fees		0
Total Debt, Less Unamortized Deferred Financing Fees, Current and Noncurrent		$ 0
Commitment fee (as a percent)		1.40%
Maximum borrowing capacity		$ 200,000
Accounts receivable available to support facility		$ 148,800
Accounts Receivable Securitization Facility [Member] | Base Rate [Member]
Debt Instruments
Interest rate		2.60%
Other Indebtedness [Member]
Debt Instruments
Carrying amount		$ 1,481				1,591
Total Debt, Less Unamortized Deferred Financing Fees, Current and Noncurrent		$ 1,481				$ 1,591

Debt - Senior Credit Facility (

Debt - Senior Credit Facility (Details) $ in Thousands	Sep. 06, 2017USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2017USD ($)	Aug. 31, 2017USD ($)	Dec. 31, 2016USD ($)	May 05, 2015USD ($)
Debt Instruments
Long-term Debt		$ 1,172,924	$ 1,172,924		$ 1,165,369
Carrying amount		1,201,481	1,201,481		1,187,411
Loss on extinguishment of debt		65,260	65,260
Current portion		7,000	7,000		5,000
Senior Credit Facility [Member]
Debt Instruments
Maximum borrowing capacity	$ 1,075,000					$ 825,000
Loss on extinguishment of debt			800
2022 Revolving Facility
Debt Instruments
Maximum borrowing capacity	$ 375,000
Percentage of Revolving Facility borrowing capacity covenant trigger	30.00%
Undrawn letters of credit	$ 10,000
Capitalization of issuance costs	$ 800
Amortization period	5 years
Funds available for borrowings		357,200	357,200
Letters of credit, amount outstanding		17,800	$ 17,800
Commitment fee (as a percent)			0.375%
2022 Revolving Facility | Maximum
Debt Instruments
Net leverage ratio	2
Swingline Subfacility [Member]
Debt Instruments
Maximum borrowing capacity	$ 25,000
Letter of Credit [Member]
Debt Instruments
Maximum borrowing capacity	35,000
2020 Revolving Facility
Debt Instruments
Maximum borrowing capacity						325,000
Unamortized deferred financing fees	4,000
Carrying amount				$ 0
2024 Term Loan B
Debt Instruments
Maximum borrowing capacity	$ 700,000
Debt instrument, margin rate	2.50%
Variable rate floor (as a percent)	0.00%
Principal payable per quarter, as a percent	0.25%
Debt issuance fees incurred	$ 12,300
Debt issuance fees expensed		1,200	$ 1,200
Capitalization of issuance costs	$ 11,100
Amortization period	7 years
Long-term Debt		681,043	681,043
Carrying amount		700,000	700,000
Current portion		$ 7,000	$ 7,000
2021 Term Loan B
Debt Instruments
Maximum borrowing capacity						$ 500,000
Unamortized deferred financing fees	$ 8,100
Long-term Debt				$ 490,000	482,386
Carrying amount					$ 491,545
LIBOR [Member] | 2024 Term Loan B
Debt Instruments
Debt instrument, margin rate	2.50%		2.50%
Variable rate floor (as a percent)	0.00%		0.00%

Debt - Senior Notes (Details)

Debt - Senior Notes (Details) $ in Thousands, € in Millions	Sep. 07, 2017USD ($)	Aug. 29, 2017USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2017USD ($)	Dec. 31, 2016USD ($)	May 31, 2015USD ($)	May 31, 2015EUR (€)
Debt Instruments
Redemption of Senior Notes				$ 745,950
Call premium				52,978
Loss on extinguishment of debt			$ 65,260	65,260
Unamortized deferred financing fees			28,557	$ 28,557	$ 22,042
2022 Senior Notes
Debt Instruments
Redemption of Senior Notes	$ 746,000
Call premium	53,000
Accrued and unpaid interest	$ 17,000
Loss on extinguishment of debt			64,500
Write-off of unamortized deferred financing fees			$ 11,500
Euro Notes
Debt Instruments
Debt instrument issued | €							€ 375
Debt instrument, stated interest rate					6.375%	6.375%	6.375%
Debt instrument, redemption price percentage	107.459%
Unamortized deferred financing fees					$ 7,157
USD Notes
Debt Instruments
Debt instrument issued						$ 300,000
Debt instrument, stated interest rate					6.75%	6.75%	6.75%
Debt instrument, redemption price percentage	106.572%
Unamortized deferred financing fees					$ 5,726
2025 Senior Notes
Debt Instruments
Debt instrument issued		$ 500,000
Debt instrument, stated interest rate		5.375%	5.375%	5.375%
Unamortized deferred financing fees			$ 9,600	$ 9,600
Capitalization of issuance costs		$ 9,700
Amortization period		8 years
2025 Senior Notes | Period prior to September 1, 2020
Debt Instruments
Debt instrument, redemption price percentage		100.00%
Aggregate principal amount that may be redeemed, as a percent		40.00%
Redemption price, as percentage of principal		105.375%
2025 Senior Notes | 12-month period commencing September 1, 2020
Debt Instruments
Debt instrument, redemption price percentage		102.688%
2025 Senior Notes | 12-month period commencing September 1, 2021
Debt Instruments
Debt instrument, redemption price percentage		101.792%
2025 Senior Notes | 12-month period commencing September 1, 2022
Debt Instruments
Debt instrument, redemption price percentage		100.896%
2025 Senior Notes | 12-Month period commencing September 1, 2023 and thereafter
Debt Instruments
Debt instrument, redemption price percentage		100.00%

Goodwill and Intangible Asset48

Goodwill and Intangible Assets (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Goodwill [Roll Forward]
Beginning Balance	$ 29,485
Acquisition	28,598
Foreign currency impact	4,691
Ending Balance	62,774
Latex Binders Segment
Goodwill [Roll Forward]
Beginning Balance	11,544
Foreign currency impact	1,415
Ending Balance	12,959
Synthetic Rubber Segment
Goodwill [Roll Forward]
Beginning Balance	8,177
Foreign currency impact	1,002
Ending Balance	9,179
Performance Plastics Segment [Member]
Goodwill [Roll Forward]
Beginning Balance	4,210
Acquisition	28,598
Foreign currency impact	1,592
Ending Balance	34,400
Basic Plastics Segment [Member]
Goodwill [Roll Forward]
Beginning Balance	5,554
Foreign currency impact	682
Ending Balance	$ 6,236

Goodwill and Intangible Asset49

Goodwill and Intangible Assets - Other Intangible Assets Table (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended	21 Months Ended
	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2017
Other Intangible Assets
Net	$ 207,819	$ 177,345	$ 207,819
Developed Technology [Member]
Other Intangible Assets
Gross Carrying Amount	198,535	166,230	198,535
Accumulated Amortization	(91,078)	(72,159)	(91,078)
Net	$ 107,457	$ 94,071	107,457
Developed Technology [Member] | Maximum
Other Intangible Assets
Estimated Useful Life (Years)	15 years	15 years
Developed Technology [Member] | Minimum
Other Intangible Assets
Estimated Useful Life (Years)	9 years	9 years
Customer Relationships [Member]
Other Intangible Assets
Estimated Useful Life (Years)	19 years
Gross Carrying Amount	$ 14,520		14,520
Accumulated Amortization	(171)		(171)
Net	$ 14,349		14,349
Manufacturing Capacity Rights [Member]
Other Intangible Assets
Estimated Useful Life (Years)	6 years
Gross Carrying Amount	$ 22,426	$ 19,977	22,426
Accumulated Amortization	(12,728)	(8,908)	(12,728)
Net	9,698	11,069	9,698
Software [Member]
Other Intangible Assets
Gross Carrying Amount	87,412	82,275	87,412
Accumulated Amortization	(22,617)	(15,095)	(22,617)
Net	$ 64,795	$ 67,180	$ 64,795
Software [Member] | Maximum
Other Intangible Assets
Estimated Useful Life (Years)	10 years	10 years
Software [Member] | Minimum
Other Intangible Assets
Estimated Useful Life (Years)			5 years
Software in Development [Member]
Other Intangible Assets
Gross Carrying Amount	$ 8,617	$ 4,751	$ 8,617
Net	$ 8,617	4,751	8,617
Other [Member]
Other Intangible Assets
Estimated Useful Life (Years)	3 years
Gross Carrying Amount	$ 3,056	274	3,056
Accumulated Amortization	(153)		(153)
Net	$ 2,903	$ 274	$ 2,903

Goodwill and Intangible Asset50

Goodwill and Intangible Assets - Amortization Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Goodwill and Intangible Assets.
Amortization expense related to finite-lived intangible assets	$ 7.2	$ 5	$ 19.6	$ 15.2

Derivative Instruments (Details

Derivative Instruments (Details) $ in Thousands, € in Millions	Sep. 06, 2017	Sep. 01, 2017USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)item	Sep. 30, 2016USD ($)	Sep. 01, 2017EUR (€)	Aug. 31, 2017EUR (€)	Aug. 29, 2017USD ($)	Dec. 31, 2016USD ($)	May 31, 2015
Derivative Instruments
Total debt			$ 1,172,924		$ 1,172,924					$ 1,165,369
Information regarding changes in fair value of derivatives
Foreign exchange transaction gains (losses)			8,200	$ 1,500	16,100	$ (4,100)
Ineffectiveness related to derivatives designated as hedges					0
Reclassification expected during next 12 months					(10,300)
Net Investment Hedges
Information regarding changes in fair value of derivatives
Gain (Loss) Recognized in AOCI on Balance Sheet			(21,036)	(2,128)	(45,696)	(4,615)
Not Designated as Hedging Instruments - Economic
Information regarding changes in fair value of derivatives
Gain (Loss) Recognized in Statement of Operations			(6,526)	1,060	(17,036)	2,054
Designated as Hedging Instrument | Cash Flow Hedges
Information regarding changes in fair value of derivatives
Gain (Loss) Recognized in AOCI on Balance Sheet			(3,715)	(2,280)	(21,491)	(3,676)
Gain (Loss) Recognized in Statement of Operations			(2,672)	245	788	616
Foreign Exchange Forward Contracts | Not Designated as Hedging Instruments - Economic
Derivative Instruments
Derivative contracts, notional amount			327,900		327,900
Foreign Exchange Forward Contracts | Designated as Hedging Instrument
Derivative Instruments
Derivative contracts, notional amount			196,500		$ 196,500
Number of subsidiaries participating | item					1
Derivative term					15 months
Cross Currency Swap | Net Investment Hedges
Derivative Instruments
Derivative contracts, notional amount | €							€ 420
Derivative term		5 years
Cross currency swap weighted average interest rate (as a percent)		3.45%
Amount hedged		$ 500,000
Cumulative translation adjustment, net of tax			7,100		$ 7,100
Information regarding changes in fair value of derivatives
Gain (Loss) Recognized in AOCI on Balance Sheet			(7,112)		(7,112)
Debt Instrument Hedge | Net Investment Hedges
Derivative Instruments
Total debt | €								€ 280
Cumulative translation adjustment, net of tax			24,100		24,100
Information regarding changes in fair value of derivatives
Gain (Loss) Recognized in AOCI on Balance Sheet			(13,924)	(2,128)	(38,584)	(4,615)
Interest Rate Swap
Derivative Instruments
Derivative contracts, notional amount			200,000		$ 200,000
Derivative term					5 years
Cost of Sales | Foreign Exchange Forward Contracts | Designated as Hedging Instrument | Cash Flow Hedges
Information regarding changes in fair value of derivatives
Gain (Loss) Recognized in AOCI on Balance Sheet			(4,458)	(2,280)	$ (22,234)	(3,676)
Gain (Loss) Recognized in Statement of Operations			(2,666)	245	794	616
Interest Expense, Net | Interest Rate Swap | Designated as Hedging Instrument | Cash Flow Hedges
Information regarding changes in fair value of derivatives
Gain (Loss) Recognized in AOCI on Balance Sheet			743		743
Gain (Loss) Recognized in Statement of Operations			(6)		(6)
Other Expense (Income), Net | Foreign Exchange Forward Contracts | Not Designated as Hedging Instruments - Economic
Information regarding changes in fair value of derivatives
Gain (Loss) Recognized in Statement of Operations			(6,526)	$ 1,060	(17,036)	$ 2,054
Euro Notes
Derivative Instruments
Total debt								€ 375		$ 387,118
Interest rate										6.375%	6.375%
2025 Senior Notes
Derivative Instruments
Total debt			$ 490,400		$ 490,400				$ 500,000
Interest rate			5.375%		5.375%				5.375%
2024 Term Loan B
Derivative Instruments
Total debt			$ 681,043		$ 681,043
Debt instrument, margin rate	2.50%
Variable rate floor (as a percent)	0.00%
Interest rate			3.735%		3.735%
2024 Term Loan B | LIBOR [Member]
Derivative Instruments
Debt instrument, margin rate	2.50%				2.50%
Variable rate floor (as a percent)	0.00%				0.00%
Euro [Member] | Foreign Exchange Forward Contracts | Sell | Not Designated as Hedging Instruments - Economic
Derivative Instruments
Derivative contracts, notional amount			$ 161,885		$ 161,885
Chinese Yuan [Member] | Foreign Exchange Forward Contracts | Sell | Not Designated as Hedging Instruments - Economic
Derivative Instruments
Derivative contracts, notional amount			58,335		58,335
Indonesian Rupiah [Member] | Foreign Exchange Forward Contracts | Sell | Not Designated as Hedging Instruments - Economic
Derivative Instruments
Derivative contracts, notional amount			29,493		29,493
Swiss Franc [Member] | Foreign Exchange Forward Contracts | Buy | Not Designated as Hedging Instruments - Economic
Derivative Instruments
Derivative contracts, notional amount			16,762		16,762
Korea (South), Won | Foreign Exchange Forward Contracts | Sell | Not Designated as Hedging Instruments - Economic
Derivative Instruments
Derivative contracts, notional amount			$ 10,983		$ 10,983

Derivative Instruments - Financ

Derivative Instruments - Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Derivatives, Financial Assets and Liabilities
Net Amounts of Assets Presented in the Consolidated Balance Sheet	$ 11,220	$ 12,682
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	26,096	511
Accounts Receivable
Derivatives, Financial Assets and Liabilities
Net Amounts of Assets Presented in the Consolidated Balance Sheet	9,788	12,682
Deferred Charges and Other Assets
Derivatives, Financial Assets and Liabilities
Net Amounts of Assets Presented in the Consolidated Balance Sheet	1,432
Accounts Payable
Derivatives, Financial Assets and Liabilities
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	10,417	511
Other Noncurrent Obligations
Derivatives, Financial Assets and Liabilities
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	15,679
Foreign Exchange Forward Contracts
Derivatives, Financial Assets and Liabilities
Gross Amounts of Recognized Assets	12,793	23,401
Gross Amounts of Offset in the Consolidated Balance Sheet	(1,573)	(10,719)
Net Amounts of Assets Presented in the Consolidated Balance Sheet	11,220	12,682
Gross Amounts of Recognized Liabilities	27,669	11,230
Gross Amounts of Offset in the Consolidated Balance Sheet	(1,573)	(10,719)
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	26,096	511
Foreign Exchange Forward Contracts | Not Designated as Hedging Instruments - Economic
Derivatives, Financial Assets and Liabilities
Net Amounts of Assets Presented in the Consolidated Balance Sheet	3,368	1,664
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	117	511
Foreign Exchange Forward Contracts | Not Designated as Hedging Instruments - Economic | Accounts Receivable
Derivatives, Financial Assets and Liabilities
Net Amounts of Assets Presented in the Consolidated Balance Sheet	3,368	1,664
Foreign Exchange Forward Contracts | Not Designated as Hedging Instruments - Economic | Accounts Payable
Derivatives, Financial Assets and Liabilities
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	117	511
Foreign Exchange Forward Contracts | Designated as Hedging Instrument
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	11,760
Foreign Exchange Forward Contracts | Designated as Hedging Instrument | Accounts Receivable
Derivatives, Financial Assets and Liabilities
Net Amounts of Assets Presented in the Consolidated Balance Sheet		$ 11,018
Foreign Exchange Forward Contracts | Designated as Hedging Instrument | Accounts Payable
Derivatives, Financial Assets and Liabilities
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	9,612
Foreign Exchange Forward Contracts | Designated as Hedging Instrument | Other Noncurrent Obligations
Derivatives, Financial Assets and Liabilities
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	2,148
Interest Rate Swap
Derivatives, Financial Assets and Liabilities
Net Amounts of Assets Presented in the Consolidated Balance Sheet	1,432
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	688
Interest Rate Swap | Deferred Charges and Other Assets
Derivatives, Financial Assets and Liabilities
Net Amounts of Assets Presented in the Consolidated Balance Sheet	1,432
Interest Rate Swap | Accounts Payable
Derivatives, Financial Assets and Liabilities
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	688
Cross Currency Swap
Derivatives, Financial Assets and Liabilities
Net Amounts of Assets Presented in the Consolidated Balance Sheet	6,420
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	13,531
Cross Currency Swap | Accounts Receivable
Derivatives, Financial Assets and Liabilities
Net Amounts of Assets Presented in the Consolidated Balance Sheet	6,420
Cross Currency Swap | Other Noncurrent Obligations
Derivatives, Financial Assets and Liabilities
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	$ 13,531

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities at Fair Value, Recurring (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value Measurements
Assets at fair value	$ 11,220	$ 12,682
Liabilities at fair value	(26,096)	(511)
Foreign Exchange Forward Contracts
Fair Value Measurements
Assets at fair value	11,220	12,682
Liabilities at fair value	(26,096)	(511)
Interest Rate Swap
Fair Value Measurements
Assets at fair value	1,432
Liabilities at fair value	(688)
Cross Currency Swap
Fair Value Measurements
Assets at fair value	6,420
Liabilities at fair value	(13,531)
Designated as Hedging Instrument | Foreign Exchange Forward Contracts
Fair Value Measurements
Assets at fair value		11,018
Liabilities at fair value	(11,760)
Not Designated as Hedging Instruments - Economic | Foreign Exchange Forward Contracts
Fair Value Measurements
Assets at fair value	3,368	1,664
Liabilities at fair value	(117)	(511)
Recurring
Fair Value Measurements
Total fair value	(14,876)	12,171
Recurring | Interest Rate Swap
Fair Value Measurements
Assets at fair value	1,432
Liabilities at fair value	(688)
Recurring | Cross Currency Swap
Fair Value Measurements
Assets at fair value	6,420
Liabilities at fair value	(13,531)
Recurring | Significant Other Observable Inputs (Level 2)
Fair Value Measurements
Total fair value	(14,876)	12,171
Recurring | Significant Other Observable Inputs (Level 2) | Interest Rate Swap
Fair Value Measurements
Assets at fair value	1,432
Liabilities at fair value	(688)
Recurring | Significant Other Observable Inputs (Level 2) | Cross Currency Swap
Fair Value Measurements
Assets at fair value	6,420
Liabilities at fair value	(13,531)
Recurring | Designated as Hedging Instrument | Foreign Exchange Forward Contracts
Fair Value Measurements
Assets at fair value		11,018
Liabilities at fair value	(11,760)
Recurring | Designated as Hedging Instrument | Significant Other Observable Inputs (Level 2) | Foreign Exchange Forward Contracts
Fair Value Measurements
Assets at fair value		11,018
Liabilities at fair value	(11,760)
Recurring | Not Designated as Hedging Instruments - Economic | Foreign Exchange Forward Contracts
Fair Value Measurements
Assets at fair value	3,368	1,664
Liabilities at fair value	(117)	(511)
Recurring | Not Designated as Hedging Instruments - Economic | Significant Other Observable Inputs (Level 2) | Foreign Exchange Forward Contracts
Fair Value Measurements
Assets at fair value	3,368	1,664
Liabilities at fair value	$ (117)	$ (511)

Fair Value Measurements - Items

Fair Value Measurements - Items not at Fair Value (Details) - Significant Other Observable Inputs (Level 2) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value of Debt Instruments
Total fair value of long term debt	$ 1,223,066	$ 1,237,478
2025 Senior Notes
Fair Value of Debt Instruments
Total fair value of long term debt	515,625
USD Notes
Fair Value of Debt Instruments
Total fair value of long term debt		315,000
Euro Notes
Fair Value of Debt Instruments
Total fair value of long term debt		424,437
2024 Term Loan B
Fair Value of Debt Instruments
Total fair value of long term debt	$ 707,441
2021 Term Loan B
Fair Value of Debt Instruments
Total fair value of long term debt		$ 498,041

Income Taxes - Effective Tax Ra

Income Taxes - Effective Tax Rate (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Taxes [Line Items]
Effective tax rate	20.00%	19.20%	21.10%	21.70%
Provision for income taxes	$ 8,300	$ 16,000	$ 56,400	$ 66,500
Impairment charge related to loss on sale of business		$ 300		$ 13,200
2022 Senior Notes
Income Taxes [Line Items]
Non-deductible fees for retirement of debt	10,900
Write-off of unamortized deferred financing fees	$ 11,500

Commitments and Contingencies (

Commitments and Contingencies (Details)	Sep. 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 Contingencies -

Commitments and Contingencies - Purchase Commitments (Details)	9 Months Ended
	Sep. 30, 2017
Maximum
Loss Contingencies [Line Items]
Purchase commitment period	5 years
Minimum
Loss Contingencies [Line Items]
Purchase commitment period	1 year

Pension Plans and Other Postr58

Pension Plans and Other Postretirement Benefits - Net Periodic Benefit Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Defined Benefit Pension Plans
Net periodic benefit cost
Service cost	$ 5,000	$ 4,156	$ 14,291	$ 12,438
Interest cost	1,184	1,391	3,376	4,160
Expected return on plan assets	(450)	(492)	(1,285)	(1,474)
Amortization of prior service cost (credit)	(503)	(488)	(1,456)	(1,459)
Amortization of net (gain) loss	1,479	1,058	4,232	3,169
Net settlement and curtailment loss			129
Net periodic benefit cost	6,710	5,625	19,287	16,834
Settlement loss			500
Defined benefit curtailment gain			400
Amounts recognized in other comprehensive income (loss)
Net periodic benefit cost	6,710	5,625	19,287	16,834
Other Postretirement Plans
Net periodic benefit cost
Service cost	53	67	161	196
Interest cost	63	135	189	385
Amortization of prior service cost (credit)	26	25	77	77
Amortization of net (gain) loss	(11)	(43)	(32)	(128)
Net periodic benefit cost	131	184	395	530
Amounts recognized in other comprehensive income (loss)
Net periodic benefit cost	$ 131	$ 184	$ 395	$ 530

Pension Plans and Other Postr59

Pension Plans and Other Postretirement Benefits - Net Amounts Recognized (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Dec. 31, 2016
Net amounts recognized in the balance sheets at December 31
Benefit obligations	$ 221.6	$ 221.6	$ 195.8
Employer contributions	1.7	11.9
Expected contributions, remainder of current year	$ 4	$ 4

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Stock-based Compensation
Compensation expense	$ 3,065	$ 6,026	$ 10,752	$ 14,842
Incentive Plan Under Former Parent [Member]
Stock-based Compensation
Compensation expense		3,817		6,149
Restricted Stock Units
Stock-based Compensation
Compensation expense	2,287	1,476	6,295	3,826
Unrecognized compensation cost	11,682		$ 11,682
Weighted-average period of recognition			1 year 9 months 18 days
Other-than-Options, Shares Activity
Granted, Shares			110,767
Other-than-Options, FV Activity
Granted, Weighted-Average Grant Date Fair Value per Share			$ 70.85
Option Awards
Stock-based Compensation
Compensation expense	454	$ 733	$ 3,661	$ 4,867
Unrecognized compensation cost	1,659		$ 1,659
Weighted-average period of recognition			1 year 4 months 24 days
Options Outstanding Roll Forward
Granted, Options			192,546
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
Stock-based Compensation
Compensation expense	324		$ 796
Unrecognized compensation cost	$ 3,062		$ 3,062
Weighted-average period of recognition			2 years 4 months 24 days
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
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%

Acquisitions and Divestitures -

Acquisitions and Divestitures - Acquisition (Details) - USD ($) $ in Thousands	Jul. 10, 2017	Sep. 30, 2017	Sep. 30, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Purchase price, net of cash acquired			$ 79,650
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Goodwill		$ 62,774	62,774	$ 29,485
API Applicazioni Plastiche Industriali S.p.A. [Member]
Business Acquisition [Line Items]
Equity interest acquired	100.00%
Purchase price, net of cash acquired	$ 82,100		79,700
Purchase price payable		2,400	2,400
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Cash and cash equivalents	8,431
Accounts receivable	16,484
Inventories	10,282
Other current assets	728
Property, plant, and equipment	24,146
Total fair value of assets acquired	88,271
Accounts payable	12,219
Income taxes payable	202
Accrued expenses and other current liabilities	1,416
Deferred income tax liabilities—noncurrent	11,262
Other noncurrent obligations	1,277
Total fair value of liabilities assumed	26,376
Net identifiable assets acquired	61,895
Goodwill	28,598
Net assets acquired	90,493
Expected deduction for goodwill	0
Transaction costs		2,400	3,500
Inventory adjustment		$ 1,300	$ 1,300
API Applicazioni Plastiche Industriali S.p.A. [Member] | Customer Relationships [Member]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Other intangible assets	$ 14,000
Expected life	19 years
API Applicazioni Plastiche Industriali S.p.A. [Member] | Developed Technology [Member]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Other intangible assets	$ 11,500
Expected life	9 years
API Applicazioni Plastiche Industriali S.p.A. [Member] | Other [Member]
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Other intangible assets	$ 2,700
Expected life	3 years

Acquisitions and Divestitures62

Acquisitions and Divestitures - Divestitures (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Disclosures by disposal group
Impairment charge related to loss on sale of business	$ 0.3		$ 13.2
Brazil Latex and Automotive Businesses [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Disclosures by disposal group
Impairment charge related to loss on sale of business	$ 0.3		13.2
Sales proceeds		$ 1.7		$ 1.8
Latex Binders Segment | Brazil Latex and Automotive Businesses [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Disclosures by disposal group
Impairment charge related to loss on sale of business			4.2
Performance Plastics Segment [Member] | Brazil Latex and Automotive Businesses [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Disclosures by disposal group
Impairment charge related to loss on sale of business			8.4
Corporate Unallocated [Member] | Brazil Latex and Automotive Businesses [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Disclosures by disposal group
Impairment charge related to loss on sale of business			$ 0.6

Segments - Reconciliation of Se

Segments - Reconciliation of Segment Reporting to Consolidated (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Jan. 31, 2017	Dec. 31, 2016USD ($)	Oct. 01, 2016segment
Segment Reporting Information [Line Items]
Number of new segments from split | segment							3
Sales to external customers	$ 1,096,582	$ 935,410	$ 3,346,271	$ 2,799,188
Equity in earnings (losses) of unconsolidated affiliates	43,807	36,686	93,029	110,314
Adjusted EBITDA	187,666	169,686	544,660	541,650
Investment in unconsolidated affiliates	161,883	186,999	161,883	186,999		$ 191,418
Depreciation and amortization	$ 29,176	23,771	$ 80,220	71,744
Americas Styrenics
Segment Reporting Information [Line Items]
Percentage of ownership underlying net assets	50.00%		50.00%			50.00%
Investment in unconsolidated affiliates	$ 161,900		$ 161,900			$ 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	2,191	1,016	6,511	3,610
Latex Binders Segment
Segment Reporting Information [Line Items]
Sales to external customers	266,260	242,600	846,721	684,552
Adjusted EBITDA	32,343	29,815	105,228	70,042
Depreciation and amortization	6,046	5,742	17,469	17,904
Synthetic Rubber Segment
Segment Reporting Information [Line Items]
Sales to external customers	118,684	112,690	456,055	326,278
Adjusted EBITDA	(5,579)	28,491	68,381	81,787
Depreciation and amortization	8,960	9,138	26,027	26,073
Performance Plastics Segment [Member]
Segment Reporting Information [Line Items]
Sales to external customers	206,999	175,355	581,724	527,875
Adjusted EBITDA	29,436	30,187	79,799	103,745
Depreciation and amortization	4,102	1,372	8,947	4,505
Basic Plastics Segment [Member]
Segment Reporting Information [Line Items]
Sales to external customers	393,622	323,729	1,156,831	1,029,683
Equity in earnings (losses) of unconsolidated affiliates		2,356	810	5,375
Adjusted EBITDA	42,062	34,134	112,691	115,050
Investment in unconsolidated affiliates		38,197		38,197
Depreciation and amortization	4,274	4,057	12,094	11,581
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	111,017	81,036	304,940	230,800
Adjusted EBITDA	45,597	12,729	86,342	66,087
Depreciation and amortization	3,603	2,446	9,172	8,071
Americas Styrenics [Member]
Segment Reporting Information [Line Items]
Equity in earnings (losses) of unconsolidated affiliates	43,807	34,330	92,219	104,939
Adjusted EBITDA	43,807	34,330	92,219	104,939
Investment in unconsolidated affiliates	$ 161,883	$ 148,802	$ 161,883	$ 148,802
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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Income before income taxes	$ 41,515	$ 83,254	$ 267,068	$ 306,305
Interest expense, net	(18,436)	(18,832)	(55,355)	(56,542)
Depreciation and amortization	29,176	23,771	80,220	71,744
Corporate Unallocated	21,864	26,397	70,888	72,766
Adjusted EBITDA addbacks	76,675	17,432	71,129	34,293
Adjusted EBITDA	187,666	169,686	544,660	541,650
Loss on extinguishment of long-term debt	65,260		65,260
Net loss (gain) on disposition of businesses and assets	200	300	(9,700)	13,200
Restructuring and other charges	1,500	16,800	4,800	18,600
Acquisition transactions and integration costs	3,800		4,900
Asset impairment charges or write-offs	4,300		4,300
Other items	1,600	300	1,600	2,500
Operating Segments [Member]
Segment Reporting Information [Line Items]
Income before income taxes	41,515	83,254	267,068	306,305
Corporate Unallocated [Member]
Segment Reporting Information [Line Items]
Interest expense, net	(18,436)	(18,832)	(55,355)	(56,542)
Depreciation and amortization	$ 2,191	$ 1,016	$ 6,511	$ 3,610

Restructuring (Details)

Restructuring (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 2,117	$ 16,842	$ 6,580	$ 19,072
Restructuring Reserve [Roll Forward]
Accrued charges/Balance at beginning of period			5,290
Expenses			5,556
Payments/Deductions			(8,270)
Accrued charges/Balance at end of period	2,576		2,576
Terneuzen Plant Modernization
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	976		2,853
Cumulative life-to-date charges	3,479		3,479
Livorno Plant Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	853	16,083	2,274	16,083
Cumulative life-to-date charges	22,197		22,197
Other Restructurings
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	288	759	1,453	2,989
Asset Impairment And Accelerated Depreciation [Member] | Terneuzen Plant Modernization
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	614		1,745
Cumulative life-to-date charges	1,745		1,745
Asset Impairment And Accelerated Depreciation [Member] | Livorno Plant Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		14,345		14,345
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	1,900		1,900
Employee Termination Benefit Charges
Restructuring Reserve [Roll Forward]
Accrued charges/Balance at beginning of period			5,021
Expenses			2,492
Payments/Deductions			(5,674)
Accrued charges/Balance at end of period	1,839		1,839
Employee Termination Benefit Charges | Terneuzen Plant Modernization
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	170		326
Cumulative life-to-date charges	326		326
Employee Termination Benefit Charges | Livorno Plant Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	220	1,405	579	1,405
Cumulative life-to-date charges	5,211		5,211
Restructuring Reserve [Roll Forward]
Expected restructuring charges	200		200
Contract Termination
Restructuring Reserve [Roll Forward]
Accrued charges/Balance at beginning of period			269
Expenses			590
Payments/Deductions			(122)
Accrued charges/Balance at end of period	737		737
Contract Termination | Terneuzen Plant Modernization
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			590
Cumulative life-to-date charges	590		590
Contract Termination | Livorno Plant Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		269		269
Cumulative life-to-date charges	269		269
Decommissioning and Other Charges
Restructuring Reserve [Roll Forward]
Expenses			2,474
Payments/Deductions			(2,474)
Decommissioning and Other Charges | Terneuzen Plant Modernization
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	192		192
Cumulative life-to-date charges	818		818
Restructuring Reserve [Roll Forward]
Expected restructuring charges	1,200		1,200
Decommissioning and Other Charges | Livorno Plant Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	633	$ 64	1,695	$ 64
Cumulative life-to-date charges	$ 2,372		$ 2,372

Accumulated Other Comprehensi66

Accumulated Other Comprehensive Income (Loss) - Components (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period			$ 445,053	$ 389,014
Balance at end of period	$ 570,042	$ 423,437	570,042	423,437
Cumulative Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period	(95,747)	(106,702)	(118,922)	(109,120)
Other comprehensive income (loss)	(1,561)	1,488	21,614	3,906
Balance at end of period	(97,308)	(105,214)	(97,308)	(105,214)
Pension and Other Postretirement Benefit Plans, Net
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period	(61,332)	(45,887)	(63,504)	(46,166)
Other comprehensive income (loss)				(800)
Amounts reclassified from AOCI to net income	840	533	3,012	1,612
Balance at end of period	(60,492)	(45,354)	(60,492)	(45,354)
Accumulated Gain Loss from Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period	(5,504)	4,173	12,272	5,569
Other comprehensive income (loss)	(6,387)	(2,035)	(20,703)	(3,060)
Amounts reclassified from AOCI to net income	2,672	(245)	(788)	(616)
Balance at end of period	(9,219)	1,893	(9,219)	1,893
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at beginning of period	(162,583)	(148,416)	(170,154)	(149,717)
Other comprehensive income (loss)	(7,948)	(547)	911	46
Amounts reclassified from AOCI to net income	3,512	288	2,224	996
Balance at end of period	$ (167,019)	$ (148,675)	$ (167,019)	$ (148,675)

Accumulated Other Comprehensi67

Accumulated Other Comprehensive Income (Loss) - Reclassification (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest Income (Expense), Nonoperating, Net	$ (18,436)	$ (18,832)	$ (55,355)	$ (56,542)
Other Nonoperating Income (Expense)	11	(1,084)	6,072	(16,628)
Income before income taxes	41,515	83,254	267,068	306,305
Tax effect	(8,300)	(16,000)	(56,400)	(66,500)
Net income	33,215	67,254	210,668	239,805
Pension and Other Postretirement Benefit Plans, Net
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	1,220	789
Tax effect	(380)	(256)
Net income	840	533
Pension and 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			4,155	2,388
Tax effect			(1,143)	(776)
Net income			3,012	1,612
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	(477)	(461)
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			(1,379)	(1,382)
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	1,697	1,250
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			4,886	3,770
Accumulated Gain Loss from Cash Flow Hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of Sales	2,666	(245)
Interest Income (Expense), Nonoperating, Net	6
Income before income taxes	2,672	(245)
Net income	$ 2,672	$ (245)
Accumulated Gain Loss from Cash Flow Hedges | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of Sales			(794)	(616)
Interest Income (Expense), Nonoperating, Net			6
Income before income taxes			(788)	(616)
Net income			$ (788)	$ (616)

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings:
Net income (loss)	$ 33,215	$ 67,254	$ 210,668	$ 239,805
Shares:
Weighted average ordinary shares outstanding	43,745	45,865	43,900	47,152
Dilutive effect of RSUs and option awards	1,037	1,096	1,146	889
Diluted weighted average ordinary shares outstanding	44,782	46,961	45,046	48,041
Income (loss) per share:
Income per share- basic	$ 0.76	$ 1.47	$ 4.80	$ 5.09
Income per share- diluted	$ 0.74	$ 1.43	$ 4.68	$ 4.99
Anti-dilutive shares excluded	200	0	200	0