Segment Information (Tables)

6 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Reportable Segment Information

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.