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Segment Information (Tables)
 3 Months Ended
Mar. 31, 2018
Segment Reporting [Abstract]  
Reportable Segment Information
Reportable segment information is as follows:
 
Three Months Ended March 31,
(DOLLARS IN THOUSANDS)
2018
 
2017
Net sales:
 
 
 
Flavors
$
449,019

 
$
406,164

Fragrances
481,909

 
422,129

Consolidated
$
930,928

 
$
828,293

Segment profit:
 
 
 
Flavors
$
111,564

 
$
94,556

Fragrances
93,277

 
77,875

Global expenses
(23,825
)
 
(16,293
)
Operational Improvement Initiatives (a)
(1,026
)
 
(621
)
Acquisition Related Costs (b)
514

 
(8,788
)
Integration Related Costs (c)
—

 
(1,192
)
Tax Assessment (d)
—

 
(5,350
)
Restructuring and Other Charges, net (e)
(717
)
 
(10,143
)
Gain on Sale of Assets
69

 
21

FDA Mandated Product Recall (f)
(5,000
)
 
—

Operating profit
174,856

 
130,065

Interest expense
(16,595
)
 
(12,807
)
Other income (expense)
576

 
21,229

Income before taxes
$
158,837

 
$
138,487


(a)
For 2018, represents accelerated depreciation related to a plant relocation in India and a lab closure in Taiwan. For 2017, represents accelerated depreciation and idle labor costs in Hangzhou, China.
(b)
For 2018, represents adjustments to the contingent consideration payable for PowderPure, and transaction costs related to Fragrance Resources and PowderPure within Selling and administrative expenses. For 2017, represents the amortization of inventory "step-up" related to the acquisitions of David Michael and Fragrance Resources, included in cost of goods sold and transaction costs related to the acquisitions of David Michael, Fragrance Resources and PowderPure, included in Selling and administrative expenses.
(c)
Represents costs related to the integration of the David Michael and Fragrance Resources acquisitions.
(d)
Represents the reserve for payment of a tax assessment related to commercial rent for prior periods.
(e)
Represents severance costs related to the 2017 Productivity Program and Taiwan lab closure.
(f)
Represents management's best estimate of losses related to the previously disclosed FDA mandated recall.