Segment and Geographic Information

12 Months Ended

Dec. 31, 2011

Segment and Geographic Information [Abstract]

Segment Information

9. Segment and Geographic Information

The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The Company evaluates performance based on operating income of the respective business units before restructuring charges, interest expense and income taxes. Total revenue and operating income by business segment and geographic region include both sales to customers, as reported in the Company's Consolidated Statements of Earnings, and intersegment sales, which are accounted for at prices that approximate market prices and are eliminated in consolidation. Corporate and Other revenue consists primarily of flavor, fragrances and color products sold by the Asia Pacific and China Groups.

Assets by business segment and geographic region are those assets used in the Company's operations in each segment and geographic region. Segment assets reflect the allocation of goodwill to each segment. Corporate and Other assets consist primarily of property and investments.

Segment Information The Company's operations, except for the Asia Pacific Group and China Group, are managed on a products and services basis. The Company determines its operating segments based on information utilized by the chief operating decision maker to allocate resources and assess performance. The Company's reportable segments consist of Flavors & Fragrances and Color. The Company's Flavors & Fragrances segment produces flavor and fragrance products that impart a desired taste, texture, aroma or other characteristic to a broad range of consumer and other products. The Color segment produces natural and synthetic color systems for pharmaceuticals, foods and beverages; colors and formulations for cosmetics; and technical colors for industrial applications and digital imaging. Two additional segments, the Asia Pacific Group and the China Group, are included in the Corporate & Other column on the next page.

	Flavors &				Corporate
(in thousands)	Fragrances		Color		& Other			Consolidated
2011
Revenue from external customers	$	833,663	$	467,691	$	129,435		$	1,430,789
Intersegment revenue		27,017		24,190		2,400			53,607
Total revenue		860,680		491,881		131,835			1,484,396
Operating income (loss)		130,849		90,217		(30,243	)		190,823
Interest expense		-		-		19,439			19,439
Earnings (loss) before income taxes		130,849		90,217		(49,682	)		171,384
Assets		804,983		695,251		153,930			1,654,164
Capital expenditures		35,034		30,121		7,045			72,200
Depreciation and amortization		26,860		14,086		5,153			46,099
2010
Revenue from external customers	$	786,532	$	430,782	$	110,866		$	1,328,180
Intersegment revenue		22,521		16,679		2,313			41,513
Total revenue		809,053		447,461		113,179			1,369,693
Operating income (loss)		121,997		77,404		(24,824	)		174,577
Interest expense		-		-		20,384			20,384
Earnings (loss) before income taxes		121,997		77,404		(45,208	)		154,193
Assets		785,205		676,656		137,407			1,599,268
Capital expenditures		27,214		22,306		6,303			55,823
Depreciation and amortization		24,896		13,473		5,054			43,423
2009
Revenue from external customers	$	755,525	$	358,761	$	87,126		$	1,201,412
Intersegment revenue		17,347		16,046		1,280			34,673
Total revenue		772,872		374,807		88,406			1,236,085
Operating income (loss)		124,482		58,685		(36,204	)		146,963
Interest expense		-		-		23,788			23,788
Earnings (loss) before income taxes		124,482		58,685		(59,992	)		123,175
Assets		800,156		651,446		140,089			1,591,691
Capital expenditures		28,696		11,865		7,155			47,716
Depreciation and amortization		24,155		13,098		4,930			42,183

Geographic Information The Company has manufacturing facilities or sales offices in North America, South America, Europe, Asia, Australia and Africa.

(in thousands)	2011		2010		2009
Revenue from external customers:
North America	$	737,154	$	699,429	$	650,847
Europe		405,312		374,616		334,755
Asia Pacific		190,404		166,809		137,804
Other		97,919		87,326		78,006
Consolidated	$	1,430,789	$	1,328,180	$	1,201,412
Long-lived assets:
North America	$	444,656	$	420,084	$	407,758
Europe		456,248		470,811		493,263
Asia Pacific		35,151		34,993		31,605
Other		11,239		1,075		956
Consolidated	$	947,294	$	926,963	$	933,582

Sales in the United States, based on the final country of destination of the Company's products, were $561.9 million, $529.6 million and $495.6 million in 2011, 2010 and 2009, respectively. No other country of destination exceeded 10% of consolidated sales. Total long-lived assets in the United States amounted to $345.1 million, $317.5 million and $311.9 million at December 31, 2011, 2010 and 2009, respectively.