Divestitures (Tables)

12 Months Ended

Dec. 31, 2021

Divestitures [Abstract]

Assets and Liabilities Held for Sale

The assets and liabilities related to the inks and fragrances (excluding its essential oils product line) product lines are recorded in Assets Held for Sale and Liabilities Held for Sale as of December 31, 2020, as follows:

(In thousands)	December 31, 2020
Assets held for sale:
Trade accounts receivable, less allowance for losses of $456	$	20,722
Inventories		25,045
Prepaid expenses and other current assets		1,843
Property, Plant, and Equipment, net		3,434
Intangible assets		1,716
Assets held for sale	$	52,760
Liabilities held for sale:
Trade accounts payable	$	13,967
Accrued salaries, wages, and withholdings from employees		1,739
Other accrued expenses		1,633
Liabilities held for sale	$	17,339

Divestiture and Other Related Costs

The Company reports all costs associated with the divestitures in Corporate & Other. The following table summarizes the divestiture & other related costs for the year ended December 31, 2021:

(In thousands)	Yogurt Fruit Preparations			Fragrances		Inks			Corporate/ Other		Consolidated
Non-cash impairment charges – Selling and administrative expenses	$	(1,000	)	$	1,062	$	-		$	-	$	62
Non-cash charges – Cost of products sold		-			95		(9	)		-		86
Reclassification of foreign currency translation and related items – Selling and administrative expenses		-			10,201		2			-		10,203
Other costs - Selling and administrative expenses(1)		917			2,553		(281	)		598		3,787
Total	$	(83	)	$	13,911	$	(288	)	$	598	$	14,138

⁽¹⁾
Other costs – Selling and administrative expenses include employee separation costs, bad debt expense, professional services, accelerated depreciation, environmental remediation costs, and other related costs.

The Company reports all costs associated with the divestitures in Corporate & Other. The following table summarizes the divestiture & other related costs for the year ended December 31, 2020:

(In thousands)	Yogurt Fruit Preparations		Fragrances		Inks			Corporate/ Other			Consolidated
Non-cash impairment charges – Selling and administrative expenses	$	2,597	$	2,055	$	8,928		$	(861	)	$	12,719
Non-cash charges – Cost of products sold		1,679		77		(203	)		242			1,795
Reclassification of foreign currency translation and related items – Selling and administrative expenses		-		-		(8,625	)		-			(8,625	)
Other costs - Selling and administrative expenses(1)		337		3,029		892			2,008			6,266
Total	$	4,613	$	5,161	$	992		$	1,389		$	12,155

⁽¹⁾
Other costs – Selling and administrative expenses include employee separation costs, environmental remediation costs, professional services, accelerated depreciation, and other related costs.

The Company reports all costs associated with the divestitures in Corporate & Other. The following table summarizes the divestiture & other related costs for the year ended December 31, 2019:

(In thousands)	Yogurt Fruit Preparations		Fragrances		Inks		Corporate/ Other		Consolidated
Non-cash impairment charges – Selling and administrative expenses	$	-	$	18,204	$	15,849	$	555	$	34,608
Non-cash charges – Cost of products sold		9,767		-		-		-		9,767
Other costs - Selling and administrative expenses(1)		-		305		26		374		705
Other costs – Cost of products sold(2)		800		-		-		-		800
Total	$	10,567	$	18,509	$	15,875	$	929	$	45,880

⁽¹⁾
Other costs – Selling and administrative expenses include employee separation costs, professional services, and other related costs.

⁽²⁾
Other costs – Cost of product sold include inventory disposal costs and other related costs.