AdvanSix (ASIX) 10-Q 7 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]
Entity Registrant Name	AdvanSix Inc.
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		30,482,966
Amendment Flag	false
Entity Central Index Key	1,673,985
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED AND COMB

CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Sales	$ 366,660	$ 323,953	$ 1,104,805	$ 932,201
Costs, expenses and other:
Costs of goods sold	309,629	285,091	923,268	804,471
Selling, general and administrative expenses	19,086	11,695	54,022	33,949
Other non-operating expense (income), net	2,133	(635)	6,381	(1,792)
Costs, expenses and other	330,848	296,151	983,671	836,628
Income before taxes	35,812	27,802	121,134	95,573
Income taxes	14,538	11,342	46,803	36,712
Net income	$ 21,274	$ 16,460	$ 74,331	$ 58,861
Earnings per common share
Basic (in dollars per share)	$ 0.70	$ 0.54	$ 2.44	$ 1.93
Diluted (in dollars per share)	$ 0.68	$ 0.54	$ 2.40	$ 1.93
Weighted average common shares outstanding
Basic (in shares)	30,482,966	30,482,966	30,482,966	30,482,966
Diluted (in shares)	31,159,710	30,482,966	31,013,606	30,482,966

CONDENSED CONSOLIDATED AND COM3

CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 21,274	$ 16,460	$ 74,331	$ 58,861
Foreign exchange translation adjustment	(12)	(148)	(15)	284
Commodity hedges	0	(3,470)	0	(1,635)
Other comprehensive income (loss), net of tax	(12)	(3,618)	(15)	(1,351)
Comprehensive income	$ 21,262	$ 12,842	$ 74,316	$ 57,510

CONDENSED CONSOLIDATED AND COM4

CONDENSED CONSOLIDATED AND COMBINED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 39,986	$ 14,199
Accounts and other receivables – net	152,511	131,671
Inventories – net	100,474	128,978
Other current assets	8,684	7,690
Total current assets	301,655	282,538
Property, plant and equipment – net	597,877	575,375
Goodwill	15,005	15,005
Other assets	35,105	32,039
Total assets	949,642	904,957
Current liabilities:
Accounts payable	177,688	222,929
Accrued liabilities	27,630	25,396
Income taxes payable	18	86
Deferred income and customer advances	801	25,567
Current portion of long-term debt	10,125	0
Total current liabilities	216,262	273,978
Deferred income taxes	147,461	114,200
Long-term debt	254,995	264,838
Postretirement benefit obligations	25,372	33,544
Other liabilities	2,941	3,035
Total liabilities	647,031	689,595
COMMITMENTS AND CONTINGENCIES (Note 8)
EQUITY
Common stock, par value $0.01; 200,000,000 shares authorized and 30,482,966 shares issued and outstanding	305	305
Preferred stock, par value $0.01; 50,000,000 shares authorized and 0 shares issued and outstanding	0	0
Additional paid in capital	255,709	242,806
Retained earnings/(accumulated deficit)	49,617	(24,714)
Accumulated other comprehensive income (loss)	(3,020)	(3,035)
Total equity	302,611	215,362
Total liabilities and equity	$ 949,642	$ 904,957

CONDENSED CONSOLIDATED AND COM5

CONDENSED CONSOLIDATED AND COMBINED BALANCE SHEETS (Parentheticals) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	30,482,966	30,482,966
Common stock, shares outstanding	30,482,966	30,482,966
Preferred stock par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

CONDENSED CONSOLIDATED AND COM6

CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net income	$ 74,331	$ 58,861
Adjustments to reconcile net income to net cash (used for) provided by operating activities:
Depreciation and amortization	35,524	29,964
Loss on disposal of assets	1,236	1,246
Deferred income taxes	40,478	29,206
Stock based compensation	5,686	0
Accretion of deferred financing fees	444	0
Changes in assets and liabilities:
Accounts and other receivables	(20,825)	(20,117)
Inventories	28,504	13,581
Accounts payable	(33,893)	(161)
Income taxes payable	(68)	0
Accrued liabilities	2,234	(9,690)
Deferred income and customer advances	(24,766)	(23,501)
Other assets and liabilities	(10,414)	(12,922)
Net cash provided by operating activities	98,471	66,467
Cash flows from investing activities:
Expenditures for property, plant and equipment	(67,206)	(56,859)
Other investing activities	(5,387)	(461)
Net cash used for investing activities	(72,593)	(57,320)
Cash flows from financing activities:
Proceeds from long term debt	0	270,000
Borrowings from revolving credit facility	308,500	40,000
Payments to revolving credit facility	(308,500)	0
Distribution to Honeywell in connection with the Spin-Off	0	(269,347)
Principal payments of capital leases	(91)	0
Net decrease in invested equity	0	(9,050)
Net cash (used for) provided by financing activities	(91)	28,817
Net increase in cash and cash equivalents	25,787	37,964
Cash and cash equivalents at beginning of period	14,199	0
Cash and cash equivalents at the end of period	39,986	37,964
Non-Cash Investing Activities:
Capital expenditures included in accounts payable	17,228	19,935
Supplemental Disclosure of Cash Flow Information:
Interest paid	7,976	0
Income taxes paid	12,695	0
Line of Credit [Member]
Cash flows from financing activities:
Payment of debt issuance costs	0	(1,770)
Revolving Credit Facility [Member]
Cash flows from financing activities:
Payment of debt issuance costs	$ 0	$ (1,016)

Organization, Operations and Ba

Organization, Operations and Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Organization, Operations and Basis of Presentation	Organization, Operations and Basis of Presentation Description of Business AdvanSix Inc. (“AdvanSix” or the “Company”) is an integrated manufacturer of Nylon 6, a polymer resin which is a synthetic material used by our customers to produce engineered plastics, fibers, filaments and films that, in turn, are used in such end-products as automotive and electronic components, carpets, sports apparel, fishing nets and food and industrial packaging. As a result of our backward integration and the configuration of our manufacturing facilities, we also sell a variety of other products, all of which are produced as part of our Nylon 6 integrated manufacturing chain including caprolactam, ammonium sulfate fertilizers, acetone and other chemical intermediates. Each of our product lines represented the following approximate percentage of our sales: Three Months Ended Nine Months Ended 2017 2016 2017 2016 Nylon 28% 29% 29% 29% Caprolactam 19% 16% 19% 16% Ammonium Sulfate Fertilizers 20% 22% 20% 24% Chemical Intermediates 33% 33% 32% 31% Separation from Honeywell On October 1, 2016, Honeywell International Inc. (“Honeywell”) completed the separation of AdvanSix. The separation was completed by Honeywell distributing all of the then outstanding shares of common stock of AdvanSix on October 1, 2016 (the “Distribution Date”) through a dividend in kind of AdvanSix common stock, par value $0.01 , to holders of Honeywell common stock as of the close of business on the record date of September 16, 2016 who held their shares through the Distribution Date (the “Spin-Off”). Each Honeywell stockholder who held their shares through the Distribution Date received one share of AdvanSix common stock for every 25 shares of Honeywell common stock held at the close of business on the record date of September 16, 2016. The separation was completed pursuant to a Separation and Distribution Agreement and other agreements with Honeywell related to the separation, including an Employee Matters Agreement, a Tax Matters Agreement, and Transition Services Agreement as well as Site Sharing and Services Agreements for Chesterfield, Colonial Heights and Pottsville. These agreements govern the relationship between AdvanSix and Honeywell following the separation and provide for the allocation of various assets, liabilities, rights and obligations. These agreements also include arrangements for transition services to be provided by Honeywell to AdvanSix and by AdvanSix to Honeywell. On October 3, 2016, AdvanSix stock began “regular-way” trading on the New York Stock Exchange under the “ASIX” stock symbol. Basis of Presentation Unless the context otherwise requires, references in these Notes to Condensed Consolidated and Combined Financial Statements to “we,” “us,” “our,” “AdvanSix” and the “Company” refer to AdvanSix Inc. and its consolidated subsidiaries after giving effect to the Spin-Off. All significant intercompany balances and transactions have been eliminated. The Condensed Consolidated and Combined Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, the accompanying unaudited Condensed Consolidated and Combined Financial Statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of September 30, 2017, and its results of operations for the three and nine months ended September 30, 2017 and 2016, and cash flows for the nine months ended September 30, 2017 and 2016. The Condensed Consolidated and Combined Balance Sheet at December 31, 2016 was derived from audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements. The results of operations of any interim period are not necessarily indicative of the results of operations to be expected for the full fiscal year. These financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. In preparing these Condensed Consolidated and Combined Financial Statements, the Company has evaluated events and transactions for potential recognition or disclosure through the date that the Condensed Consolidated and Combined Financial Statements were issued. Certain prior period amounts have been reclassified for consistency with the current period presentation. We report our quarterly financial information using a calendar convention; prior to the Spin-Off, the first, second and third quarters were consistently reported as ending on March 31, June 30 and September 30 in the financial statements of Honeywell; subsequent to the Spin-Off we continued to follow that convention. It is our practice to establish actual quarterly closing dates using a predetermined fiscal calendar, which requires our businesses to close their books on a Saturday in order to minimize the potentially disruptive effects of quarterly closing on our business processes. Historically, the effects of this practice were generally not significant to reported results for any quarter and only existed within a reporting year. In the event that differences in actual closing dates are material to year-over-year comparisons of quarterly or year-to-date results, we will provide the appropriate disclosures. Our actual closing dates for the three and nine months ending September 30, 2017 and 2016 were September 30, 2017 and October 1, 2016, respectively. Liabilities to creditors to whom we have issued checks that remained outstanding at September 30, 2017 and December 31, 2016 aggregated $ 6.4 million and $12.5 million , respectively, and were included in Cash and cash equivalents and Accounts payable in the Condensed Consolidated and Combined Balance Sheets.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company considers the applicability and impact of all Accounting Standards Updates (“ASU”). ASUs not discussed below were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial position or results of operations. In March 2017, the Financial Accounting Standards Board (“FASB”) issued ASU 2017-07, Compensation – Retirement Benefits (Topic 715) , in order to improve the presentation of net periodic pension and postretirement costs. The amendment requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost as defined in paragraphs 715-30-35-4 and 715-60-35-9 are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. The amendments in this ASU also allow only the service cost component to be eligible for capitalization when applicable. The amendments in this update related to income statement activity should be applied retrospectively whereas balance sheet activity should be applied prospectively. For public business entities, the effective date for ASU 2017-07 is annual periods beginning after December 15, 2017, including interim periods within those annual periods. Early adoption is permitted within the first interim period. We expect to adopt this guidance effective January 1, 2018 and no impact, other than expense classification, on the Company’s consolidated financial position and results of operations is expected upon adoption. In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which simplifies the accounting for goodwill impairment for all entities by requiring impairment charges to be based on the first step in today’s two-step impairment test under ASC 350. Under the new guidance, if a reporting unit’s carrying amount exceeds its fair value, an entity will record an impairment charge based on that difference. The impairment charge will be limited to the amount of goodwill allocated to that reporting unit. The amendment eliminates the requirement to calculate a goodwill impairment charge by comparing the implied fair value of goodwill with its carrying amount (i.e., Step 2 of today’s goodwill impairment test). The standard will be applied prospectively and is effective for annual and interim impairment tests performed in periods beginning after December 15, 2019. Early adoption is permitted for annual and interim goodwill impairment testing dates after January 1, 2017. The Company elected to adopt ASU 2017-04 early beginning in January 2017 and there was no impact on the Company’s consolidated financial position and results of operations upon adoption. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business , which clarifies the definition of a business to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The new guidance requires an entity to first evaluate whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets. If this threshold is met, the set of transferred assets and activities is not a business. If the threshold is not met, the entity evaluates whether the set meets the requirement that a business include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create outputs. For public business entities, the effective date for ASU 2017-01 is annual periods beginning after December 15, 2017, including interim periods within those periods. The Company elected to adopt ASU 2017-01 early beginning in January 2017 and there was no impact on the Company’s consolidated financial position and results of operations upon adoption. In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718) , which simplifies certain aspects of share-based payment transactions including income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. The new guidance requires an entity to record all excess tax benefits / deficiencies as income tax expense / benefit in the income statement. The new guidance also allows an entity to make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. For public business entities, the effective date for ASU 2016-09 is annual periods beginning after December 15, 2016, including interim periods within those periods. The Company adopted this ASU effective January 1, 2017 and has elected to continue to accrue compensation cost for forfeitures based on the number of awards that are expected to vest. There was no impact on the Company’s consolidated financial position and results of operations upon adoption. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which requires lessees to recognize most leases on their balance sheets related to the rights and obligations created by those leases. The new standard also requires disclosures to help financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases and will be effective for interim and annual periods beginning after December 15, 2018 (early adoption is permitted). The new standard should be applied under a modified retrospective approach. We are evaluating the impact of the new standard on the Company’s consolidated financial position and results of operations and related disclosures. Although we have not yet completed our assessment, adoption of this standard will have a significant impact on our Consolidated Balance Sheets. However, we do not expect adoption of this standard to have a significant impact on the recognition, measurement or presentation of lease expenses within the Consolidated Statements of Operations or the Consolidated Statements of Cash Flows. Information about our undiscounted future lease payments and the timing of those payments is provided under “Contractual Obligations” in Management’s Discussion and Analysis of Financial Condition and Results of Operations in our 2016 Form 10-K. We will adopt this standard effective January 1, 2019. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which replaces the existing accounting standards for revenue recognition with a single comprehensive five-step model eliminating industry-specific accounting rules. The core principle is to recognize revenue upon the transfer of goods or services to customers at an amount that reflects the consideration expected to be received. Since its issuance, the FASB has amended several aspects of the new guidance, including provisions that address revenue recognition associated with the licensing of intellectual property. The provisions of ASU 2014-09 will be effective for public business entities for interim and annual periods beginning after December 15, 2017, with early adoption permitted for annual periods beginning after December 15, 2016. The guidance may be adopted either by restating all years presented in the Company’s financial statements or by recording the impact of adoption as an adjustment to retained earnings at the beginning of the year of adoption. During the three months ended September 30, 2017 , the Company continued its assessment of AdvanSix revenue streams by reviewing and documenting customer contracts and related transaction support to determine the impact on revenue recognition under the new standard. The Company has made progress on redrafting its revenue recognition policies, assessing the redesign of internal controls, as well as evaluating the expanded disclosure requirements. The Company plans to adopt the standard effective January 1, 2018 and the impact of adoption, if any, will be reflected as an adjustment to retained earnings at the beginning of the year of adoption. Based on the results of the assessment performed to date, the Company has preliminarily concluded that revenues from the Company's products are expected to remain substantially unchanged from the Company's current revenue recognition model. The Company will continue to assess the new standard and the potential impact on the Company’s consolidated financial position and results of operations and related disclosures upon adoption.

Related Party Transactions with

Related Party Transactions with Honeywell	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions with Honeywell	Related Party Transactions with Honeywell Prior to consummation of the Spin-Off, the Condensed Consolidated and Combined Financial Statements have been prepared on a stand-alone basis and are derived from the consolidated financial statements and accounting records of Honeywell. During the three and nine months ended September 30, 2016, AdvanSix was allocated $10,470 and $31,877 , respectively, of general corporate expenses incurred by Honeywell for certain services, such as legal, accounting, information technology, human resources, other infrastructure support and shared facilities, on behalf of AdvanSix. These expenses were reflected within Costs of goods sold and Selling, general and administrative expenses in the Condensed Consolidated and Combined Statements of Operations. Sales to Honeywell during the three and nine months ended September 30, 2016 were $3,274 and $5,955 , respectively. Of these sales, $3,080 and $5,682 , respectively, were sold to Honeywell at zero margin. Costs of goods sold to Honeywell during the three and nine months ended September 30, 2016 were $3,157 and $5,842 , respectively. Purchases from Honeywell during the three and nine months ended September 30, 2016 were $1,041 and $3,299 , respectively. The total net effect of the settlement of these inter-company transactions was reflected in the Condensed Consolidated and Combined Statements of Cash Flows as a financing activity identified as Invested equity. When the Company was owned by Honeywell, a centralized approach was used for cash management and financing of operations. Prior to consummation of the Spin-Off, the Company’s cash was transferred to Honeywell daily and Honeywell funded the Company’s operating and investing activities as needed. Subsequent to the Spin-Off on October 1, 2016, transactions with Honeywell were not considered related party transactions. Accordingly, no related party transactions with Honeywell were recorded for the three and nine months ended September 30, 2017.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share On October 1, 2016, the date of consummation of the Spin-Off, 30,482,966 shares of the Company’s Common Stock were distributed to Honeywell shareholders of record as of September 16, 2016. This share amount is being utilized for the calculation of basic earnings per share for all periods presented as no Common Stock was outstanding prior to the date of the Spin-Off. In October 2016, the Company issued 908,540 time-based restricted stock units in connection with the Spin-Off with vesting periods ranging from 18 to 42 months. These restricted stock units were not included in the computation of diluted earnings per share for the three and nine months ended September 30, 2016 . The details of the earnings per share calculations for the three and nine months ended September 30, 2017 and 2016 are as follows: Three Months Ended Nine Months Ended 2017 2016 2017 2016 Basic Net Income $ 21,274 $ 16,460 $ 74,331 $ 58,861 Weighted average common shares outstanding 30,482,966 30,482,966 30,482,966 30,482,966 EPS – Basic $ 0.70 $ 0.54 $ 2.44 $ 1.93 Diluted Dilutive effect of unvested equity awards 676,744 — 530,640 — Weighted average common shares outstanding 31,159,710 30,482,966 31,013,606 30,482,966 EPS – Diluted $ 0.68 $ 0.54 $ 2.40 $ 1.93 On March 8, 2017, the Company granted equity awards representing 333,719 shares of common stock under the 2016 Stock Incentive Plan of AdvanSix Inc. and its Affiliates to Company employees consisting of 175,026 stock options, 89,896 performance stock units (at target) and 68,797 restricted stock units. These equity awards have a per share strike price or grant date fair value per share of $26.66 with vesting periods ranging from 12 to 36 months. On June 1, 2017, the Company granted equity awards representing 28,856 shares of common stock under the 2016 Stock Incentive Plan of AdvanSix Inc. and its Affiliates to Company employees and the Company's Board of Directors consisting of restricted stock units. These equity awards have a grant date fair value per share of $29.25 with vesting periods ranging from 12 to 36 months . Stock compensation expense related to all outstanding equity awards is being ratably recognized over the vesting period of each type of equity award with vesting periods ranging from 12 to 42 months based on grant date fair value. Stock compensation expense aggregated $2,067 and $5,686 for the three and nine months ended September 30, 2017 .

Accounts and Other Receivables

Accounts and Other Receivables Net	9 Months Ended
	Sep. 30, 2017
Receivables [Abstract]
Accounts and Other Receivables Net	Accounts and Other Receivables – Net September 30, 2017 December 31, 2016 Accounts receivables $ 151,318 $ 119,475 Other 1,816 15,407 Total accounts and other receivables 153,134 134,882 Less – allowance for doubtful accounts (623 ) (3,211 ) Total accounts and other receivables – net $ 152,511 $ 131,671 The increase in Accounts receivable at September 30, 2017 versus December 31, 2016 was due to significantly higher sales during the third quarter of 2017 versus the fourth quarter of 2016 which was impacted by the Company's plant turnaround activities. The increase in accounts receivable at September 30, 2017 was partially offset by higher accounts receivable collections related to a trade receivables discount arrangement with a third party financial institution which enhances liquidity and enables the Company to efficiently manage its working capital needs.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories September 30, 2017 December 31, 2016 Raw materials $ 39,313 $ 68,900 Work in progress 36,801 47,759 Finished goods 32,946 19,069 Spares and other 24,118 23,129 133,178 158,857 Reduction to LIFO cost basis (32,704 ) (29,879 ) Total inventories $ 100,474 $ 128,978 The decrease in total inventories as of September 30, 2017 compared to December 31, 2016 is due primarily to lower levels of raw materials driven primarily by cumene delivery delays resulting from hurricane impacts on logistics as well as higher than normal levels of cumene inventory at December 31, 2016. The decrease was partially offset by a buildup of finished goods inventory compared to December 31, 2016 following fourth quarter 2016 plant outages. The overall lower levels of inventories at September 30, 2017 resulted in a change in the LIFO cost basis reserve of $4.4 million (unfavorable pretax income impact) during the three months ended September 30, 2017 .

Postretirement Benefit Obligati

Postretirement Benefit Obligations	9 Months Ended
	Sep. 30, 2017
Retirement Benefits [Abstract]
Postretirement Benefit Cost	Postretirement Benefit Cost The components of net periodic benefit cost of the Company’s pension plan are as follows: Three Months Ended Nine Months Ended September 30, 2017 2016 2017 2016 Service costs $ 1,908 $ — $ 5,724 $ — Interest costs 333 — 999 — Expected return on plan assets (76 ) — (228 ) — Other (1) — 1,717 — 5,151 Net periodic benefit cost $ 2,165 $ 1,717 $ 6,495 $ 5,151 (1) Prior to the Spin-Off, certain of our employees participated in a defined benefit pension plan (“Shared Plan”) sponsored by Honeywell which included participants of other Honeywell subsidiaries and operations. Net periodic benefit cost related to participation in the Shared Plan was $1.7 million and $5.2 million for the three and nine months ended September 30, 2016 , respectively. The Company made contributions during 2017 sufficient to satisfy pension funding requirements under the AdvanSix Retirement Earnings Plan in an aggregate amount of approximately $17.0 million and will make additional contributions in future years sufficient to satisfy pension funding requirements in those periods. The Company made contributions of $2.2 million in the first quarter of 2017, $1.6 million in the second quarter of 2017, $11.1 million in the third quarter of 2017 and $2.0 million in October 2017. The pension plan assets are invested through a master trust fund. The strategic asset allocation for the trust fund is selected by the Company's Investment Committee reflecting the results of comprehensive asset and liability modeling. The Investment Committee establishes strategic asset allocation percentage targets and appropriate benchmarks for significant asset classes with the aim of achieving a prudent balance between return and risk. The approximate target asset allocation for the Company's pension plan assets is summarized as follows: September 30, 2017 Cash and cash equivalents 2% US and non-US equity securities 65% Fixed income / other securities 33% Total Pension Assets 100% Fixed income and other securities include investment grade securities covering the Treasury, agency, asset-backed, mortgage-backed and credit sectors of the U.S. Bond Market, as well as listed real estate companies and real estate investment trusts located in both developed and emerging markets.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is subject to a number of lawsuits, investigations and disputes (some of which involve substantial amounts claimed) arising out of the conduct of the Company or other third parties in the normal and ordinary course of business, including matters relating to commercial transactions. A liability is recognized for any contingency that is probable of occurrence and reasonably estimable. The Company continually assesses the likelihood of adverse judgments or outcomes in these matters, as well as potential ranges of possible losses (taking into consideration any insurance recoveries), based on an analysis of each matter with the assistance of legal counsel and, if applicable, other experts. Given the uncertainty inherent in such lawsuits, investigations and disputes, the Company does not believe it is possible to develop estimates of reasonably possible loss in excess of current accruals for these matters. Considering the Company’s past experience and existing accruals, the Company does not expect the outcome of these matters, either individually or in the aggregate, to have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows. Potential liabilities are subject to change due to new developments, changes in settlement strategy or the impact of evidentiary requirements, which could cause the Company to pay damage awards or settlements (or become subject to equitable remedies) that could have a material adverse effect on the Company’s consolidated results of operations, balance sheet and/or operating cash flows in the periods recognized or paid. We assumed from Honeywell all health, safety and environmental (“HSE”) liabilities and compliance obligations related to the past and future operations of our current business, as well as all HSE liabilities associated with our three current manufacturing locations and the other locations used in our current operations, including any cleanup or other liabilities related to any contamination that may have occurred at such locations in the past. Honeywell retained all HSE liabilities related to former business locations or the operation of our former businesses. Although we have ongoing environmental remedial obligations at certain of our facilities, in the past three years, the associated remediation costs have not been material, and we do not expect our known remediation costs to be material for 2017 .

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s provision for income taxes in interim periods is computed by applying an estimated annual effective tax rate against Income before taxes for the period. The provision for income taxes was $14.5 million and $11.3 million for the three months ended September 30, 2017 and 2016, respectively. The provision for income taxes was $46.8 million and $36.7 million for the nine months ended September 30, 2017 and 2016 , respectively. During the three months ended September 30, 2017, the Company adjusted its deferred tax assets and liabilities to account for changes to the September 30, 2016 deferred tax balances related to the separation from Honeywell. The changes were attributable to the completion of Honeywell’s 2016 income tax return and related return to provision adjustment. The current period adjustment resulted in a $7.2 million decrease in Deferred income taxes and an increase in Additional paid in capital.

Recent Accounting Pronounceme16

Recent Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies, by Policy (Policies) [Line Items]
Basis of Accounting	Basis of Presentation Unless the context otherwise requires, references in these Notes to Condensed Consolidated and Combined Financial Statements to “we,” “us,” “our,” “AdvanSix” and the “Company” refer to AdvanSix Inc. and its consolidated subsidiaries after giving effect to the Spin-Off. All significant intercompany balances and transactions have been eliminated. The Condensed Consolidated and Combined Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, the accompanying unaudited Condensed Consolidated and Combined Financial Statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of September 30, 2017, and its results of operations for the three and nine months ended September 30, 2017 and 2016, and cash flows for the nine months ended September 30, 2017 and 2016. The Condensed Consolidated and Combined Balance Sheet at December 31, 2016 was derived from audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements. The results of operations of any interim period are not necessarily indicative of the results of operations to be expected for the full fiscal year. These financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2016. In preparing these Condensed Consolidated and Combined Financial Statements, the Company has evaluated events and transactions for potential recognition or disclosure through the date that the Condensed Consolidated and Combined Financial Statements were issued. Certain prior period amounts have been reclassified for consistency with the current period presentation. We report our quarterly financial information using a calendar convention; prior to the Spin-Off, the first, second and third quarters were consistently reported as ending on March 31, June 30 and September 30 in the financial statements of Honeywell; subsequent to the Spin-Off we continued to follow that convention. It is our practice to establish actual quarterly closing dates using a predetermined fiscal calendar, which requires our businesses to close their books on a Saturday in order to minimize the potentially disruptive effects of quarterly closing on our business processes. Historically, the effects of this practice were generally not significant to reported results for any quarter and only existed within a reporting year. In the event that differences in actual closing dates are material to year-over-year comparisons of quarterly or year-to-date results, we will provide the appropriate disclosures. Our actual closing dates for the three and nine months ending September 30, 2017 and 2016 were September 30, 2017 and October 1, 2016, respectively. Liabilities to creditors to whom we have issued checks that remained outstanding at September 30, 2017 and December 31, 2016 aggregated $ 6.4 million and $12.5 million , respectively, and were included in Cash and cash equivalents and Accounts payable in the Condensed Consolidated and Combined Balance Sheets.
Accounting Standard Update 2017-07 [Member]
Accounting Policies, by Policy (Policies) [Line Items]
New Accounting Pronouncements	In March 2017, the Financial Accounting Standards Board (“FASB”) issued ASU 2017-07, Compensation – Retirement Benefits (Topic 715) , in order to improve the presentation of net periodic pension and postretirement costs. The amendment requires that an employer report the service cost component in the same line item or items as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost as defined in paragraphs 715-30-35-4 and 715-60-35-9 are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations, if one is presented. The amendments in this ASU also allow only the service cost component to be eligible for capitalization when applicable. The amendments in this update related to income statement activity should be applied retrospectively whereas balance sheet activity should be applied prospectively. For public business entities, the effective date for ASU 2017-07 is annual periods beginning after December 15, 2017, including interim periods within those annual periods. Early adoption is permitted within the first interim period. We expect to adopt this guidance effective January 1, 2018 and no impact, other than expense classification, on the Company’s consolidated financial position and results of operations is expected upon adoption.
Accounting Standard Update 2017-04 [Member]
Accounting Policies, by Policy (Policies) [Line Items]
New Accounting Pronouncements	In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which simplifies the accounting for goodwill impairment for all entities by requiring impairment charges to be based on the first step in today’s two-step impairment test under ASC 350. Under the new guidance, if a reporting unit’s carrying amount exceeds its fair value, an entity will record an impairment charge based on that difference. The impairment charge will be limited to the amount of goodwill allocated to that reporting unit. The amendment eliminates the requirement to calculate a goodwill impairment charge by comparing the implied fair value of goodwill with its carrying amount (i.e., Step 2 of today’s goodwill impairment test). The standard will be applied prospectively and is effective for annual and interim impairment tests performed in periods beginning after December 15, 2019. Early adoption is permitted for annual and interim goodwill impairment testing dates after January 1, 2017. The Company elected to adopt ASU 2017-04 early beginning in January 2017 and there was no impact on the Company’s consolidated financial position and results of operations upon adoption.
Accounting Standard Update 2017-01 [Member]
Accounting Policies, by Policy (Policies) [Line Items]
New Accounting Pronouncements	In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business , which clarifies the definition of a business to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The new guidance requires an entity to first evaluate whether substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets. If this threshold is met, the set of transferred assets and activities is not a business. If the threshold is not met, the entity evaluates whether the set meets the requirement that a business include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create outputs. For public business entities, the effective date for ASU 2017-01 is annual periods beginning after December 15, 2017, including interim periods within those periods. The Company elected to adopt ASU 2017-01 early beginning in January 2017 and there was no impact on the Company’s consolidated financial position and results of operations upon adoption.
Accounting Standards Update 2016-09 [Member]
Accounting Policies, by Policy (Policies) [Line Items]
New Accounting Pronouncements	In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718) , which simplifies certain aspects of share-based payment transactions including income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. The new guidance requires an entity to record all excess tax benefits / deficiencies as income tax expense / benefit in the income statement. The new guidance also allows an entity to make an entity-wide accounting policy election to either estimate the number of awards that are expected to vest or account for forfeitures when they occur. For public business entities, the effective date for ASU 2016-09 is annual periods beginning after December 15, 2016, including interim periods within those periods. The Company adopted this ASU effective January 1, 2017 and has elected to continue to accrue compensation cost for forfeitures based on the number of awards that are expected to vest. There was no impact on the Company’s consolidated financial position and results of operations upon adoption.
Accounting Standards Update 2016-02 [Member]
Accounting Policies, by Policy (Policies) [Line Items]
New Accounting Pronouncements	In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) , which requires lessees to recognize most leases on their balance sheets related to the rights and obligations created by those leases. The new standard also requires disclosures to help financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases and will be effective for interim and annual periods beginning after December 15, 2018 (early adoption is permitted). The new standard should be applied under a modified retrospective approach. We are evaluating the impact of the new standard on the Company’s consolidated financial position and results of operations and related disclosures.
Accounting Standards Update 2014-09 [Member]
Accounting Policies, by Policy (Policies) [Line Items]
New Accounting Pronouncements	In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which replaces the existing accounting standards for revenue recognition with a single comprehensive five-step model eliminating industry-specific accounting rules. The core principle is to recognize revenue upon the transfer of goods or services to customers at an amount that reflects the consideration expected to be received. Since its issuance, the FASB has amended several aspects of the new guidance, including provisions that address revenue recognition associated with the licensing of intellectual property. The provisions of ASU 2014-09 will be effective for public business entities for interim and annual periods beginning after December 15, 2017, with early adoption permitted for annual periods beginning after December 15, 2016. The guidance may be adopted either by restating all years presented in the Company’s financial statements or by recording the impact of adoption as an adjustment to retained earnings at the beginning of the year of adoption. During the three months ended September 30, 2017 , the Company continued its assessment of AdvanSix revenue streams by reviewing and documenting customer contracts and related transaction support to determine the impact on revenue recognition under the new standard. The Company has made progress on redrafting its revenue recognition policies, assessing the redesign of internal controls, as well as evaluating the expanded disclosure requirements. The Company plans to adopt the standard effective January 1, 2018 and the impact of adoption, if any, will be reflected as an adjustment to retained earnings at the beginning of the year of adoption. Based on the results of the assessment performed to date, the Company has preliminarily concluded that revenues from the Company's products are expected to remain substantially unchanged from the Company's current revenue recognition model. The Company will continue to assess the new standard and the potential impact on the Company’s consolidated financial position and results of operations and related disclosures upon adoption.

Organization, Operations and 17

Organization, Operations and Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Schedule of Sales by Product Line	Each of our product lines represented the following approximate percentage of our sales: Three Months Ended Nine Months Ended 2017 2016 2017 2016 Nylon 28% 29% 29% 29% Caprolactam 19% 16% 19% 16% Ammonium Sulfate Fertilizers 20% 22% 20% 24% Chemical Intermediates 33% 33% 32% 31%

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	The details of the earnings per share calculations for the three and nine months ended September 30, 2017 and 2016 are as follows: Three Months Ended Nine Months Ended 2017 2016 2017 2016 Basic Net Income $ 21,274 $ 16,460 $ 74,331 $ 58,861 Weighted average common shares outstanding 30,482,966 30,482,966 30,482,966 30,482,966 EPS – Basic $ 0.70 $ 0.54 $ 2.44 $ 1.93 Diluted Dilutive effect of unvested equity awards 676,744 — 530,640 — Weighted average common shares outstanding 31,159,710 30,482,966 31,013,606 30,482,966 EPS – Diluted $ 0.68 $ 0.54 $ 2.40 $ 1.93

Accounts and Other Receivable19

Accounts and Other Receivables Net (Tables)	9 Months Ended
	Sep. 30, 2017
Receivables [Abstract]
Schedule of Accounts and Other Receivables Net	September 30, 2017 December 31, 2016 Accounts receivables $ 151,318 $ 119,475 Other 1,816 15,407 Total accounts and other receivables 153,134 134,882 Less – allowance for doubtful accounts (623 ) (3,211 ) Total accounts and other receivables – net $ 152,511 $ 131,671

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	September 30, 2017 December 31, 2016 Raw materials $ 39,313 $ 68,900 Work in progress 36,801 47,759 Finished goods 32,946 19,069 Spares and other 24,118 23,129 133,178 158,857 Reduction to LIFO cost basis (32,704 ) (29,879 ) Total inventories $ 100,474 $ 128,978

Postretirement Benefit Obliga21

Postretirement Benefit Obligations (Tables)	9 Months Ended
	Sep. 30, 2017
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	The components of net periodic benefit cost of the Company’s pension plan are as follows: Three Months Ended Nine Months Ended September 30, 2017 2016 2017 2016 Service costs $ 1,908 $ — $ 5,724 $ — Interest costs 333 — 999 — Expected return on plan assets (76 ) — (228 ) — Other (1) — 1,717 — 5,151 Net periodic benefit cost $ 2,165 $ 1,717 $ 6,495 $ 5,151 (1) Prior to the Spin-Off, certain of our employees participated in a defined benefit pension plan (“Shared Plan”) sponsored by Honeywell which included participants of other Honeywell subsidiaries and operations. Net periodic benefit cost related to participation in the Shared Plan was $1.7 million and $5.2 million for the three and nine months ended September 30, 2016 , respectively.
Schedule of Allocation of Plan Assets	The approximate target asset allocation for the Company's pension plan assets is summarized as follows: September 30, 2017 Cash and cash equivalents 2% US and non-US equity securities 65% Fixed income / other securities 33% Total Pension Assets 100%

Organization, Operations and 22

Organization, Operations and Basis of Presentation - Narrative (Details) $ / shares in Units, $ in Millions	Sep. 16, 2016	Sep. 30, 2017USD ($)$ / shares	Dec. 31, 2016USD ($)$ / shares	Oct. 01, 2016$ / shares
Accounting Policies [Abstract]
Common stock par value (in dollars per share) | $ / shares		$ 0.01	$ 0.01	$ 0.01
Shares received, conversion ratio	0.04
Liabilities to creditors, payments issued but outstanding | $		$ 6.4	$ 12.5

Organization, Operations and 23

Organization, Operations and Basis of Presentation - Schedule of Intermediate Material Sales Percentages (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Nylon [Member]
Organization, Operations and Basis of Presentation (Details) - Schedule of Intermediate Material Sales Percentages [Line Items]
Percentage of sales	28.00%	29.00%	29.00%	29.00%
Caprolactam [Member]
Organization, Operations and Basis of Presentation (Details) - Schedule of Intermediate Material Sales Percentages [Line Items]
Percentage of sales	19.00%	16.00%	19.00%	16.00%
Ammonium Sulfate Fertilizers [Member]
Organization, Operations and Basis of Presentation (Details) - Schedule of Intermediate Material Sales Percentages [Line Items]
Percentage of sales	20.00%	22.00%	20.00%	24.00%
Chemical Intermediates [Member]
Organization, Operations and Basis of Presentation (Details) - Schedule of Intermediate Material Sales Percentages [Line Items]
Percentage of sales	33.00%	33.00%	32.00%	31.00%

Related Party Transactions wi24

Related Party Transactions with Honeywell (Details) - Honeywell [Member] - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016
Related Party Transactions with Honeywell (Details) [Line Items]
General corporate expenses	$ 10,470	$ 31,877
Sales to Honeywell	3,274	5,955
Costs of goods sold to related party	3,157	5,842
Purchases from Honeywell	1,041	3,299
Sold At Zero Margin [Member]
Related Party Transactions with Honeywell (Details) [Line Items]
Sales to Honeywell	$ 3,080	$ 5,682

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 01, 2017	Mar. 08, 2017	Oct. 31, 2016	Sep. 30, 2017	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016
Earnings Per Share [Line Items]
Common stock, shares issued		333,719		30,482,966	30,482,966	30,482,966	30,482,966
Exercise price (in dollars per share)	$ 29.25	$ 26.66
Stock compensation expense				$ 2,067	$ 5,686
Minimum [Member]
Earnings Per Share [Line Items]
Vesting period (in months)	12 months	12 months	18 months		12 months
Maximum [Member]
Earnings Per Share [Line Items]
Vesting period (in months)	36 months	36 months	42 months		42 months
Restricted Stock Time Based [Member]
Earnings Per Share [Line Items]
Common stock, shares issued			908,540
Employee Stock Option [Member]
Earnings Per Share [Line Items]
Common stock, shares issued		175,026
Performance Shares [Member]
Earnings Per Share [Line Items]
Common stock, shares issued		89,896
Restricted Stock [Member]
Earnings Per Share [Line Items]
Common stock, shares issued	28,856	68,797

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share (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
Basic
Net Income	$ 21,274	$ 16,460	$ 74,331	$ 58,861
Weighted average common shares outstanding	30,482,966	30,482,966	30,482,966	30,482,966
EPS – Basic (in dollars per share)	$ 0.70	$ 0.54	$ 2.44	$ 1.93
Diluted
Dilutive effect of unvested equity awards	676,744	0	530,640	0
Weighted average common shares outstanding – Diluted	31,159,710	30,482,966	31,013,606	30,482,966
EPS – Diluted (in dollars per share)	$ 0.68	$ 0.54	$ 2.40	$ 1.93

Accounts and Other Receivable27

Accounts and Other Receivables Net - Schedule of Accounts and Other Receivables (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Receivables [Abstract]
Accounts receivables	$ 151,318	$ 119,475
Other	1,816	15,407
Total accounts and other receivables	153,134	134,882
Less – allowance for doubtful accounts	(623)	(3,211)
Total accounts and other receivables – net	$ 152,511	$ 131,671

Inventories - Schedule of Inven

Inventories - Schedule of Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Raw materials	$ 39,313	$ 68,900
Work in progress	36,801	47,759
Finished goods	32,946	19,069
Spares and other	24,118	23,129
Inventory gross	133,178	158,857
Reduction to LIFO cost basis	(32,704)	(29,879)
Total inventories	$ 100,474	$ 128,978

Inventories - Narrative (Detail

Inventories - Narrative (Details) $ in Millions	3 Months Ended
	Sep. 30, 2017USD ($)
Inventory Disclosure [Abstract]
Reduction to LIFO cost basis reserve	$ 4.4

Postretirement Benefit Obliga30

Postretirement Benefit Obligations - Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Retirement Benefits [Abstract]
Service costs	$ 1,908		$ 5,724
Interest costs	333		999
Expected return on plan assets	(76)		(228)
Other		$ 1,717		$ 5,151
Net periodic benefit cost	$ 2,165	1,717	$ 6,495	5,151
Net periodic benefit cost related to participation in Shared Plan		$ 1,700		$ 5,200

Postretirement Benefit Obliga31

Postretirement Benefit Obligations - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended			9 Months Ended
	Oct. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pension contributions		$ 11.1	$ 1.6	$ 2.2	$ 17
Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pension contributions	$ 2

Postretirement Benefit Obliga32

Postretirement Benefit Obligations - Target Pension Plan Asset Allocation (Details)	Sep. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Total Pension Assets	100.00%
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Total Pension Assets	2.00%
US and non-US equity securities
Defined Benefit Plan Disclosure [Line Items]
Total Pension Assets	65.00%
Fixed income / other securities
Defined Benefit Plan Disclosure [Line Items]
Total Pension Assets	33.00%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income taxes	$ 14,538	$ 11,342	$ 46,803	$ 36,712
Decrease in deferred income taxes payable	$ 7,200