Industry Segment and Foreign Operations Commensurate with the acquisition on January 6, 2016, Arizona Chemical became a separate operating segment with our operations 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 the President and Chief Executive Officer, who reviews operating results to make decisions about allocating resources and assessing performance for the entire company.  Polymer Segment . Our Polymer segment is comprised of our SBCs and other engineered polymers business.  Chemical Segment . Our 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 (loss) for each segment. We currently do not have sales between segments. Operating Results by Segment Year Ended December 31, 2019 Year Ended December 31, 2018 Polymer Chemical Total Polymer Chemical Total (In thousands) Revenue $ 1,052,968 $ 751,468 $ 1,804,436 $ 1,221,586 $ 790,089 $ 2,011,675 Cost of goods sold 820,410 569,597 1,390,007 872,506 558,563 1,431,069 Gross profit 232,558 181,871 414,429 349,080 231,526 580,606 Operating expenses: Research and development 29,392 11,681 41,073 28,957 12,339 41,296 Selling, general, and administrative 86,025 63,775 149,800 89,753 64,144 153,897 Depreciation and amortization 59,151 77,020 136,171 71,006 70,404 141,410 Gain on insurance proceeds  (32,850 ) (32,850 )  (8,900 ) (8,900 ) Loss on disposal of fixed assets 647 126 773 202 1,967 2,169 Operating income $ 57,343 $ 62,119 119,462 $ 159,162 $ 91,572 250,734 Other income (expense) 3,339 (3,472 ) Loss on extinguishment of debt (3,521 ) (79,866 ) Earnings of unconsolidated joint venture 506 471 Interest expense, net (75,782 ) (93,772 ) Income before income taxes $ 44,004 $ 74,095 Year Ended December 31, 2017 Polymer Chemical Total (In thousands) Revenue $ 1,199,676 $ 760,686 $ 1,960,362 Cost of goods sold 887,096 528,563 1,415,659 Gross profit 312,580 232,123 544,703 Operating expenses: Research and development 28,387 11,896 40,283 Selling, general, and administrative 94,592 66,668 161,260 Depreciation and amortization 67,998 69,164 137,162 Loss on disposal of fixed assets 514  514 Operating income $ 121,089 $ 84,395 205,484 Other expense (3,360 ) Loss on extinguishment of debt (35,389 ) Earnings of unconsolidated joint venture 486 Interest expense, net (132,459 ) Income before income taxes $ 34,762 Long-Lived Assets Including Goodwill and Total Assets December 31, 2019 December 31, 2018 Polymer Chemical Total Polymer Chemical Total (In thousands) Property, plant, and equipment, net $ 526,692 $ 399,248 $ 925,940 $ 543,086 $ 398,390 $ 941,476 Investment in unconsolidated joint venture $ 11,971 $  $ 11,971 $ 12,070 $  $ 12,070 Goodwill (1) $  $ 772,418 $ 772,418 $  $ 772,886 $ 772,886 Total assets $ 1,097,691 $ 1,734,694 $ 2,832,385 $ 1,160,029 $ 1,734,675 $ 2,894,704 ________________________________________________ (1) Changes in goodwill are due to the change in currency exchange rates. During the years ended December 31, 2019 , 2018 , and 2017 , no single customer accounted for 10.0% or more of our total revenue. 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 presented at historical cost. Revenue by Geographic Region December 31, 2019 December 31, 2018 Polymer Chemical Total Polymer Chemical Total (In thousands) Revenue: United States $ 352,735 $ 317,347 $ 670,082 $ 412,308 $ 325,193 $ 737,501 Germany 107,661 51,598 159,259 141,451 53,908 195,359 All other countries 592,572 382,523 975,095 667,827 410,988 1,078,815 $ 1,052,968 $ 751,468 $ 1,804,436 $ 1,221,586 $ 790,089 $ 2,011,675 December 31, 2017 Polymer Chemical Total (In thousands) Revenue: United States $ 373,103 $ 317,144 $ 690,247 Germany 139,256 59,820 199,076 All other countries 687,317 383,722 1,071,039 $ 1,199,676 $ 760,686 $ 1,960,362 Long-Lived Assets by Geographic Region December 31, 2019 December 31, 2018 Polymer Chemical Total Polymer Chemical Total (In thousands) Long-lived assets, at cost: United States $ 568,710 $ 385,235 $ 953,945 $ 541,017 $ 357,126 $ 898,143 Taiwan 183,963  183,963 178,363  178,363 France 144,785 13,153 157,938 138,659 11,751 150,410 Brazil 24,351  24,351 76,454  76,454 Germany 70,617 5,170 75,787 68,231 4,911 73,142 All other countries 44,969 124,184 169,153 45,671 117,078 162,749 $ 1,037,395 $ 527,742 $ 1,565,137 $ 1,048,395 $ 490,866 $ 1,539,261 Our capital expenditures, excluding software and other intangibles, for the Polymer segment, excluding capital expenditures by the KFPC joint venture, were $58.7 million and $51.8 million during the year ended December 31, 2019 and 2018 , respectively, and capital expenditures, excluding software and other intangibles, for our Chemical segment were $45.0 million and $48.4 million during the year ended December 31, 2019 and 2018 , respectively. Impact of Hurricane Michael During the year ended December 31, 2019, we finalized our insurance claims with our carrier related to Hurricane Michael. As result, we received payments from our carrier of $32.9 million , of which $1.1 million was received in 2018 and deferred into 2019 when realized, which has been recorded as a gain on insurance proceeds within the Consolidated Statement of Operations. This brings our total insurance proceeds to $41.8 million to date, which offsets the lost margin and reimburses us for the direct costs and capital expenditures known to date.