Industry Segments and Foreign Operations Our operations are managed through two operating segments: (i) Polymer segment; and (ii) Chemical segment. In accordance with the provisions of ASC 280, Segment Reporting , our chief operating decision maker has been identified as our President and Chief Executive Officer, who reviews operating results to make decisions about allocating resources and assessing performance for the entire company.  Polymer Segment is comprised of our SBCs and other engineered polymers business.  Chemical Segment is comprised of our pine-based specialty products business. Our chief operating decision maker uses operating income (loss) as the primary measure of each segment's operating results in order to allocate resources and in assessing the company's performance. In accordance with ASC 280, Segment Reporting , we have presented operating income for each segment. The following table summarizes our operating results by segment. We do not have sales between segments. Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Polymer Chemical Total Polymer Chemical Total (In thousands) Revenue $ 261,055 $ 195,356 $ 456,411 $ 289,071 $ 213,321 $ 502,392 Cost of goods sold 207,169 142,240 349,409 207,640 147,674 355,314 Gross profit 53,886 53,116 107,002 81,431 65,647 147,078 Operating expenses: Research and development 7,567 2,984 10,551 7,447 3,350 10,797 Selling, general, and administrative 23,098 17,796 40,894 23,520 15,203 38,723 Depreciation and amortization 13,971 17,551 31,522 17,762 17,614 35,376 Gain on insurance proceeds  (11,100 ) (11,100 )    (Gain) loss on disposal of fixed assets    (98 ) 125 27 Operating income $ 9,250 $ 25,885 35,135 $ 32,800 $ 29,355 62,155 Other expense (259 ) (1,113 ) Gain (loss) on extinguishment of debt 210 (7,591 ) Earnings of unconsolidated joint venture 121 137 Interest expense, net (18,941 ) (29,276 ) Income before income taxes $ 16,266 $ 24,312 The following table presents long-lived assets including goodwill and total assets. March 31, 2019 December 31, 2018 Polymer Chemical Total Polymer Chemical Total (In thousands) Property, plant, and equipment, net $ 541,194 $ 396,107 $ 937,301 $ 543,086 $ 398,390 $ 941,476 Investment in unconsolidated joint venture $ 11,500 $  $ 11,500 $ 12,070 $  $ 12,070 Goodwill $  $ 772,462 $ 772,462 $  $ 772,886 $ 772,886 Total assets $ 1,155,949 $ 1,800,989 $ 2,956,938 $ 1,160,029 $ 1,734,675 $ 2,894,704 For geographic reporting, revenue is attributed to the geographic location in which the customers facilities are located. Long-lived assets consist primarily of property, plant, and equipment, which are attributed to the geographic location in which they are located and are presented at historical cost. Following is a summary of revenue by geographic region: Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 Polymer Chemical Total Polymer Chemical Total (In thousands) (In thousands) Revenue: United States $ 87,968 $ 80,357 $ 168,325 $ 103,729 $ 81,324 $ 185,053 Germany 25,911 14,981 40,892 31,842 16,236 48,078 All other countries 147,176 100,018 247,194 153,500 115,761 269,261 $ 261,055 $ 195,356 $ 456,411 $ 289,071 $ 213,321 $ 502,392 Our capital expenditures for the Polymer segment, excluding capital expenditures by the KFPC joint venture, were $11.5 million and $9.7 million during the three months ended March 31, 2019 and 2018 , respectively, and capital expenditures for our Chemical segment were $10.9 million and $13.6 million during the three months ended March 31, 2019 and 2018 , respectively. Impact of Hurricane Michael In October 2018, our Panama City, Florida, facility was damaged by Hurricane Michael. During the three months ended March 31, 2019, we estimate the margin associated with lost sales due to Hurricane Michael to be $5.9 million , and we also incurred an incremental $5.9 million of direct costs as we continued to ramp production back to operating capacity. During the three months ended March 31, 2019, our insurance carrier notified us that they would provide an additional $10.0 million of advance reimbursement under our insurance policies (which we received in early April 2019). Based on this notification and subsequent receipt, we recorded a receivable for the $10.0 million as of March 31, 2019 and an associated gain on insurance. In addition, we recognized $1.1 million of proceeds received during the fourth quarter of 2018, but which was deferred at that time as unearned until realizable, as a gain on insurance during the first quarter of 2019. The $11.1 million gain on insurance fully offsets the lost margin in the first quarter of 2019, and reimburses us for a portion of the direct costs we have incurred to date. We currently estimate the replacement cost associated with damaged equipment to be in a range of $9.0 million to $11.0 million . We continue to work with our insurance carriers to resolve all claims under our business interruption and property coverage.