Segment Information (Tables)

3 Months Ended

Mar. 31, 2014

Reportable segment information is as follows:



	Three Months Ended March 31,
(DOLLARS IN THOUSANDS)	2014			2013
Net sales:
Flavors	$	366,505		$	356,361
Fragrances	403,719			371,475
Consolidated	$	770,224		$	727,836
Segment profit:
Flavors	$	88,063		$	83,039
Fragrances	87,166			68,354
Global expenses	(16,435		)	(12,589		)
Restructuring and other charges, net	(122		)	—
Operational improvement initiative costs ⁽¹⁾	(2,619		)	(1,198		)
Operating profit	156,053			137,606
Interest expense	(11,677		)	(11,152		)
Other (income) expense, net	(1,443		)	1,069
Income before taxes	$	142,933		$	127,523


(1)	Operational improvement initiative costs relate to the closing of a smaller facility in Europe and certain manufacturing activities in Asia, while transferring production to larger facilities in each respective region.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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