Segment Information

3 Months Ended

Mar. 31, 2017

Segment Information [Abstract]

Segment Information

3. Segment Information

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

(In thousands)	Flavors & Fragrances		Color		Asia Pacific		Corporate & Other			Consolidated
Three months ended March 31, 2017:
Revenue from external customers	$	181,075	$	130,840	$	29,482	$	-		$	341,397
Intersegment revenue		5,800		3,226		154		-			9,180
Total revenue	$	186,875	$	134,066	$	29,636	$	-		$	350,577
Operating income (loss)	$	28,770	$	30,217	$	5,150	$	(40,100	)	$	24,037
Interest expense		-		-		-		4,811			4,811
Earnings (loss) before income taxes	$	28,770	$	30,217	$	5,150	$	(44,911	)	$	19,226
Three months ended March 31, 2016:
Revenue from external customers	$	191,137	$	123,164	$	28,167	$	-		$	342,468
Intersegment revenue		7,347		3,318		40		-			10,705
Total revenue	$	198,484	$	126,482	$	28,207	$	-		$	353,173
Operating income (loss)	$	27,647	$	28,116	$	5,596	$	(13,840	)	$	47,519
Interest expense		-		-		-		4,800			4,800
Earnings (loss) before income taxes	$	27,647	$	28,116	$	5,596	$	(18,640	)	$	42,719

Beginning in the first quarter of 2017, the results of operations for certain of the Company’s cosmetic and fragrance businesses in the Asia Pacific segment are now reported in the Color segment and Flavors & Fragrances segment, respectively. The results for 2016 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 2017 and 2016 restructuring and other costs related to continuing operations are reported in Corporate & Other. See Note 11, Restructuring, for more information on the Company’s restructuring activities. The 2017 other costs pertain to the costs associated with the Company’s divestiture of a facility and certain related business lines within the Flavors & Fragrances business in Strasbourg, France; see Note 13, Divestiture.