Segment Information

3 Months Ended

Mar. 31, 2015

Segment Information [Abstract]

Segment Information

3. Segment Information

Operating results by segment for the periods presented are as follows:

(In thousands)	Flavors & Fragrances		Color		Corporate & Other			Consolidated
Three months ended March 31, 2015:
Revenue from external customers	$	199,100	$	115,537	$	31,589		$	346,226
Intersegment revenue		6,878		4,978		32			11,888
Total revenue	$	205,978	$	120,515	$	31,621		$	358,114
Operating income (loss)	$	30,459	$	26,139	$	(10,152	)	$	46,446
Interest expense		-		-		3,915			3,915
Earnings (loss) before income taxes	$	30,459	$	26,139	$	(14,067	)	$	42,531
Three months ended March 31, 2014:
Revenue from external customers	$	206,862	$	128,022	$	32,241		$	367,125
Intersegment revenue		7,471		4,969		-			12,440
Total revenue	$	214,333	$	132,991	$	32,241		$	379,565
Operating income (loss)	$	30,244	$	29,774	$	(51,432	)	$	8,586
Interest expense		-		-		4,131			4,131
Earnings (loss) before income taxes	$	30,244	$	29,774	$	(55,563	)	$	4,455

Beginning in the first quarter of 2015, the results of operations for the Company’s businesses in Central and South America, previously reported in the Corporate & Other segment, are now reported in the Flavors & Fragrances segment. Results for 2014 have been restated to reflect these changes.

The Company evaluates performance based on operating income of the respective segments before restructuring and other costs, interest expense and income taxes. The 2015 and 2014 restructuring and other costs related to continuing operations are reported in the Corporate & Other segment.