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Segment Information
 9 Months Ended
Sep. 30, 2019
Segment Information [Abstract]  
Segment Information
4.
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 September 30, 2019:
                              
Revenue from external customers
  
$
163,870
    
$
123,710
    
$
30,070
    
$
-
    
$
317,650
  
Intersegment revenue
    
3,707
      
3,295
      
55
      
-
      
7,057
  
Total revenue
  
$
167,577
    
$
127,005
    
$
30,125
    
$
-
    
$
324,707
  
                                         
Operating income (loss)
  
$
17,600
    
$
23,436
    
$
5,406
    
$
(7,654
)
  
$
38,788
  
Interest expense
    
-
      
-
      
-
      
4,936
      
4,936
  
Earnings (loss) before income taxes
  
$
17,600
    
$
23,436
    
$
5,406
    
$
(12,590
)
  
$
33,852
  
                                         
Three months ended September 30, 2018:
                                        
Revenue from external customers
  
$
179,103
    
$
132,356
    
$
31,275
    
$
-
    
$
342,734
  
Intersegment revenue
    
5,294
      
2,774
      
-
      
-
      
8,068
  
Total revenue
  
$
184,397
    
$
135,130
    
$
31,275
    
$
-
    
$
350,802
  
                                         
Operating income (loss)
  
$
24,814
    
$
26,565
    
$
5,750
    
$
(6,865
)
  
$
50,264
  
Interest expense
    
-
      
-
      
-
      
5,407
      
5,407
  
Earnings (loss) before income taxes
  
$
24,814
    
$
26,565
    
$
5,750
    
$
(12,272
)
  
$
44,857
  


(In thousands)
  
Flavors &
Fragrances
    
Color
    
Asia
Pacific
    
Corporate
& Other
    
Consolidated
  
Nine months ended September 30, 2019:
                              
Revenue from external customers
  
$
517,148
    
$
399,610
    
$
87,591
    
$
-
    
$
1,004,349
  
Intersegment revenue
    
14,116
      
10,186
      
55
      
-
      
24,357
  
Total revenue
  
$
531,264
    
$
409,796
    
$
87,646
    
$
-
    
$
1,028,706
  
                                         
Operating income (loss)
  
$
60,775
    
$
81,512
    
$
13,825
    
$
(20,536
)
  
$
135,576
  
Interest expense
    
-
      
-
      
-
      
15,538
      
15,538
  
Earnings (loss) before income taxes
  
$
60,775
    
$
81,512
    
$
13,825
    
$
(36,074
)
  
$
120,038
  
                                       
Nine months ended September 30, 2018:
                                        
Revenue from external customers
  
$
553,403
    
$
416,786
    
$
92,063
    
$
-
    
$
1,062,252
  
Intersegment revenue
    
17,998
      
9,795
      
-
      
-
      
27,793
  
Total revenue
  
$
571,401
    
$
426,581
    
$
92,063
    
$
-
    
$
1,090,045
  
                                         
Operating income (loss)
  
$
74,142
    
$
91,370
    
$
15,256
    
$
(22,642
)
  
$
158,126
  
Interest expense
    
-
      
-
      
-
      
16,517
      
16,517
  
Earnings (loss) before income taxes
  
$
74,142
    
$
91,370
    
$
15,256
    
$
(39,159
)
  
$
141,609
  

The Company evaluates performance based on operating income of the respective segments before restructuring and other costs, interest expense, and income taxes. There were no restructuring and other costs incurred in either the first nine months of 2019 or 2018.

In July 2018, the Company completed the acquisition of Mazza Innovation Limited (See Note 2, Acquisitions, for further information). This business was included in Corporate & Other in 2018. Beginning in the first quarter of 2019, the results of operations of this business are now reported in the Color segment. The results for 2018 have been restated to reflect this change.


In addition to evaluating the Company’s performance based on the segments above, revenue is also disaggregated and analyzed by product line and geographic market. The following tables display the Company’s revenue by these major sources.

Product Lines


(In thousands)
  
Flavors &
Fragrances
    
Color
    
Asia
Pacific
    
Consolidated
  
Three months ended September 30, 2019:
                        
Flavors
  
$
89,604
    
$
-
    
$
-
    
$
89,604
  
Natural Ingredients
    
53,220
      
-
      
-
      
53,220
  
Fragrances
    
24,753
      
-
      
-
      
24,753
  
Food & Beverage Colors
    
-
      
73,383
      
-
      
73,383
  
Cosmetics
    
-
      
32,080
      
-
      
32,080
  
Other Colors
    
-
      
21,542
      
-
      
21,542
  
Asia Pacific
    
-
      
-
      
30,125
      
30,125
  
Intersegment Revenue
    
(3,707
)
    
(3,295
)
    
(55
)
    
(7,057
)
Total revenue from external customers
  
$
163,870
    
$
123,710
    
$
30,070
    
$
317,650
  
                                 
Three months ended September 30, 2018:
                                
Flavors
  
$
98,060
    
$
-
    
$
-
    
$
98,060
  
Natural Ingredients
    
58,140
      
-
      
-
      
58,140
  
Fragrances
    
28,197
      
-
      
-
      
28,197
  
Food & Beverage Colors
    
-
      
76,524
      
-
      
76,524
  
Cosmetics
    
-
      
35,466
      
-
      
35,466
  
Other Colors
    
-
      
23,140
      
-
      
23,140
  
Asia Pacific
    
-
      
-
      
31,275
      
31,275
  
Intersegment Revenue
    
(5,294
)
    
(2,774
)
    
-
      
(8,068
)
Total revenue from external customers
  
$
179,103
    
$
132,356
    
$
31,275
    
$
342,734
  


Product Lines


(In thousands)
  
Flavors &
Fragrances
    
Color
    
Asia
Pacific
    
Consolidated
  
Nine months ended September 30, 2019:
                        
Flavors
  
$
295,375
    
$
-
    
$
-
    
$
295,375
  
Natural Ingredients
    
156,864
      
-
      
-
      
156,864
  
Fragrances
    
79,025
      
-
      
-
      
79,025
  
Food & Beverage Colors
    
-
      
233,121
      
-
      
233,121
  
Cosmetics
    
-
      
106,218
      
-
      
106,218
  
Other Colors
    
-
      
70,457
      
-
      
70,457
  
Asia Pacific
    
-
      
-
      
87,646
      
87,646
  
Intersegment Revenue
    
(14,116
)
    
(10,186
)
    
(55
)
    
(24,357
)
Total revenue from external customers
  
$
517,148
    
$
399,610
    
$
87,591
    
$
1,004,349
  
                                 
Nine months ended September 30, 2018:
                                
Flavors
  
$
322,333
    
$
-
    
$
-
    
$
322,333
  
Natural Ingredients
    
167,538
      
-
      
-
      
167,538
  
Fragrances
    
81,530
      
-
      
-
      
81,530
  
Food & Beverage Colors
    
-
      
230,807
      
-
      
230,807
  
Cosmetics
    
-
      
121,697
      
-
      
121,697
  
Other Colors
    
-
      
74,077
      
-
      
74,077
  
Asia Pacific
    
-
      
-
      
92,063
      
92,063
  
Intersegment Revenue
    
(17,998
)
    
(9,795
)
    
-
      
(27,793
)
Total revenue from external customers
  
$
553,403
    
$
416,786
    
$
92,063
    
$
1,062,252
  


Geographic Markets


(In thousands)
  
Flavors &
Fragrances
    
Color
    
Asia
Pacific
    
Consolidated
  
Three months ended September 30, 2019:
                        
North America
  
$
109,659
    
$
60,801
    
$
25
    
$
170,485
  
Europe
    
35,964
      
33,027
      
132
      
69,123
  
Asia Pacific
    
7,002
      
12,903
      
29,731
      
49,636
  
Other
    
11,245
      
16,979
      
182
      
28,406
  
Total revenue from external customers
  
$
163,870
    
$
123,710
    
$
30,070
    
$
317,650
  
                                 
Three months ended September 30, 2018:
                                
North America
  
$
118,690
    
$
63,945
    
$
-
    
$
182,635
  
Europe
    
42,866
      
34,929
      
81
      
77,876
  
Asia Pacific
    
7,053
      
15,910
      
31,032
      
53,995
  
Other
    
10,494
      
17,572
      
162
      
28,228
  
Total revenue from external customers
  
$
179,103
    
$
132,356
    
$
31,275
    
$
342,734
  


Geographic Markets


(In thousands)
  
Flavors &
Fragrances
    
Color
    
Asia
Pacific
    
Consolidated
  
Nine months ended September 30, 2019:
                        
North America
  
$
335,521
    
$
192,109
    
$
87
    
$
527,717
  
Europe
    
125,288
      
113,844
      
280
      
239,412
  
Asia Pacific
    
24,041
      
44,440
      
86,719
      
155,200
  
Other
    
32,298
      
49,217
      
505
      
82,020
  
Total revenue from external customers
  
$
517,148
    
$
399,610
    
$
87,591
    
$
1,004,349
  
                                 
Nine months ended September 30, 2018:
                                
North America
  
$
364,941
    
$
191,265
    
$
-
    
$
556,206
  
Europe
    
133,257
      
119,687
      
111
      
253,055
  
Asia Pacific
    
23,144
      
50,461
      
91,327
      
164,932
  
Other
    
32,061
      
55,373
      
625
      
88,059
  
Total revenue from external customers
  
$
553,403
    
$
416,786
    
$
92,063
    
$
1,062,252