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Segment Information (Tables)
 6 Months Ended
Jun. 30, 2017
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)
2017
 
2016
 
2017
 
2016
Net sales:
 
 
 
 
 
 
 
Flavors
$
414,323

 
$
379,504

 
$
820,487

 
$
752,012

Fragrances
428,538

 
413,974

 
850,667

 
824,777

Consolidated
$
842,861

 
$
793,478

 
$
1,671,154

 
$
1,576,789

Segment profit:
 
 
 
 
 
 
 
Flavors
$
100,338

 
$
90,337

 
$
198,346

 
$
182,151

Fragrances
84,860

 
87,596

 
166,557

 
176,833

Global expenses
(13,398
)
 
(12,268
)
 
(29,594
)
 
(26,141
)
Restructuring and other charges, net (1)
(791
)
 
(182
)
 
(10,934
)
 
(283
)
Acquisition-related costs (2)
(6,278
)
 
(213
)
 
(15,066
)
 
(1,249
)
Operational improvement initiative costs (3)
(445
)
 
(831
)
 
(1,066
)
 
(1,099
)
Legal (charges) credits (4)
(1,000
)
 
36

 
(1,000
)
 
1,482

Gain on sales of assets (5)
68

 
197

 
89

 
2,910

Tax assessment (6)
19

 
—

 
(5,331
)
 
—

Integration-related costs (7)
(731
)
 
—

 
(1,923
)
 
—

FDA mandated product recall (8)
(3,500
)
 
—

 
(3,500
)
 
—

Operating profit
159,142

 
164,672

 
296,578

 
334,604

Interest expense
(17,556
)
 
(15,060
)
 
(30,363
)
 
(27,539
)
Other income (expense)
454

 
2,438

 
14,312

 
(118
)
Income before taxes
$
142,040

 
$
152,050

 
$
280,527

 
$
306,947


 
(1)
In 2017, charges represent severance costs related to the 2017 Productivity Program. In 2016, charges relate to accelerated depreciation which were recorded in Cost of goods sold.
(2)
Represents transaction costs related to the acquisitions of Fragrance Resources and PowderPure as well as the amortization of inventory "step-up" related to David Michael, Fragrance Resources and PowderPure in the 2017 period and expense related to the amortization of inventory "step-up" and additional transaction costs related to the acquisition of Lucas Meyer in the 2016 period.
(3)
Represents accelerated depreciation in Hangzhou, China in both the 2017 and 2016 periods.
(4)
Represents additional charges related to litigation settlement in 2017 and income receivable from the Spanish government related to the Spanish capital tax case in 2016.
(5)
Represents gains on sale of assets in Latin America in the 2017 period and in Europe in the 2016 period.
(6)
Represents the reserve for a tax assessment related to commercial rent for prior periods.
(7)
Represents costs related to the integration of the David Michael and Fragrance Resources acquisitions in the 2017 period.