Segment Information (Tables)

3 Months Ended

Mar. 31, 2015

Reportable segment information is as follows:



	Three Months Ended March 31,
(DOLLARS IN THOUSANDS)	2015			2014
Net sales:
Flavors	$	377,108		$	366,505
Fragrances	397,799			403,719
Consolidated	$	774,907		$	770,224
Segment profit:
Flavors	$	92,727		$	88,063
Fragrances	81,598			87,166
Global expenses	(11,564		)	(16,435		)
Restructuring and other charges, net	(187		)	(122		)
Acquisition and related costs ⁽¹⁾	(500		)	—
Operational improvement initiative costs ⁽²⁾	(281		)	(2,619		)
Operating profit	161,793			156,053
Interest expense	(11,095		)	(11,677		)
Other income (expense), net	5,710			(1,443		)
Income before taxes	$	156,408		$	142,933


(1)	Acquisition and related costs are associated with the acquisition of Henry H. Ottens Manufacturing Co., Inc., as discussed in Note 13.


(2)	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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