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Segment Information
 6 Months Ended
Jun. 30, 2015
Segment Reporting [Abstract]  
Segment Information
Segment Information:
The Company is organized into two operating segments: Flavors and Fragrances. These segments align with the internal structure of the Company used to manage these businesses. Performance of these operating segments is evaluated based on segment profit which is defined as operating profit before Restructuring and other charges, net, Global expenses (as discussed below) and certain non-recurring items, Interest expense, Other income (expense), net and Taxes on income.
The Global expenses caption below represents corporate and headquarters-related expenses which include legal, finance, human resources, certain incentive compensation expenses and other R&D and administrative expenses that are not allocated to individual operating segments.
Reportable segment information is as follows:  
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(DOLLARS IN THOUSANDS)
2015
 
2014
 
2015
 
2014
Net sales:
 
 
 
 
 
 
 
Flavors
$
372,478

 
$
375,513

 
$
749,586

 
$
742,018

Fragrances
395,063

 
412,901

 
792,862

 
816,620

Consolidated
$
767,541

 
$
788,414

 
$
1,542,448

 
$
1,558,638

Segment profit:
 
 
 
 
 
 
 
Flavors
$
84,015

 
$
90,805

 
$
176,743

 
$
178,869

Fragrances
79,924

 
85,474

 
161,522

 
172,638

Global expenses
(8,629
)
 
(19,869
)
 
(20,194
)
 
(36,303
)
Restructuring and other charges, net
358

 
(182
)
 
170

 
(304
)
Acquisition and related costs (1)
(6,566
)
 
—

 
(7,066
)
 
—

Operational improvement initiative costs (2)
(281
)
 
(3,113
)
 
(562
)
 
(5,732
)
Operating profit
148,821

 
153,115

 
310,613

 
309,168

Interest expense
(11,407
)
 
(11,403
)
 
(22,502
)
 
(23,080
)
Other (expense) income, net
(436
)
 
4,641

 
5,275

 
3,198

Income before taxes
$
136,978

 
$
146,353

 
$
293,386

 
$
289,286


 
(1)
Acquisition and related costs are associated with the acquisitions of Ottens Flavors and Lucas Meyer as discussed in Note 3, including inventory step-up charges related to Ottens Flavors.
(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.
Net sales are attributed to individual regions based upon the destination of product delivery. Net sales related to the U.S. for the three months ended June 30, 2015 and 2014 were $167 million and $175 million, respectively and for the six months ended June 30, 2015 and 2014 were $330 million and $336 million, respectively. Net sales attributed to all foreign countries in total for the three months ended June 30, 2015 and 2014 were $601 million and $613 million, respectively and for the six months ended June 30, 2015 and 2014 were $1,212 million and $1,223 million, respectively. No country other than the U.S. had net sales in any period presented greater than 7.0% of total consolidated net sales.