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Segment Information (Tables)
 6 Months Ended
Jun. 30, 2016
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)
2016
 
2015
 
2016
 
2015
Net sales:
 
 
 
 
 
 
 
Flavors
$
379,504

 
$
372,478

 
$
752,012

 
$
749,586

Fragrances
413,974

 
395,063

 
824,777

 
792,862

Consolidated
$
793,478

 
$
767,541

 
$
1,576,789

 
$
1,542,448

Segment profit:
 
 
 
 
 
 
 
Flavors
$
90,337

 
$
84,015

 
$
182,151

 
$
176,743

Fragrances
87,596

 
79,924

 
176,833

 
161,522

Global expenses
(12,232
)
 
(8,629
)
 
(26,141
)
 
(20,194
)
Restructuring and other charges, net (1)
(182
)
 
358

 
(283
)
 
170

Acquisition and related costs (2)
(213
)
 
(6,566
)
 
(1,249
)
 
(7,066
)
Operational improvement initiative costs (3)
(831
)
 
(281
)
 
(1,099
)
 
(562
)
Spanish capital tax settlement (4)
—

 
—

 
1,482

 
—

Operating profit
164,475

 
148,821

 
331,694

 
310,613

Interest expense
(15,060
)
 
(11,407
)
 
(27,539
)
 
(22,502
)
Other income (expense)
2,635

 
(436
)
 
2,792

 
5,275

Income before taxes
$
152,050

 
$
136,978

 
$
306,947

 
$
293,386


 
(1)
Restructuring and other charges, net relate to accelerated depreciation costs in Europe recorded in Cost of goods sold.
(2)
Acquisition and related costs are associated with the 2015 acquisition of Lucas Meyer as discussed in Note 3, including inventory step-up charges related to the inventory acquired.
(3)
Operational improvement initiative costs relate to accelerated depreciation and severance costs in Asia in the 2016 period and accelerated depreciation in the 2015 period.
(4)
The Spanish capital tax settlement represents interest received from the Spanish government related to the reversal of the unfavorable ruling the Spanish capital tax case from 2002, which was reversed during the year ended December 31, 2015.