Redeemable Noncontrolling Interests

9 Months Ended

Sep. 30, 2020

REDEEMABLE NONCONTROLLING INTERESTSThrough certain subsidiaries of our Frutarom acquisition, there are certain noncontrolling interests that carry redemption features. The noncontrolling interest holders have the right, over a stipulated period of time, to sell their respective interests to Frutarom, and Frutarom has the option to purchase these interests (subject to the same timing). These options carry identical price and conditions of exercise, and will be settled based on the multiple of the average EBITDA of consecutive quarters to be achieved during the period ending prior to the exercise date.

The following table sets forth the details of the Company's redeemable noncontrolling interests:


(DOLLARS IN THOUSANDS)	Redeemable Noncontrolling Interests
Balance at December 31, 2018	$	81,806
Acquired through acquisitions during 2019	23,594
Impact of foreign exchange translation	923
Share of profit or loss attributable to redeemable noncontrolling interests	5,397
Redemption value adjustment for the current period	(1,593)
Measurement period adjustments	5,392
Dividends paid	(432)
Exercises of redeemable noncontrolling interests	(542)
Balance at September 30, 2019	$	114,545

Balance at December 31, 2019	$	99,043

Impact of foreign exchange translation	16,268
Share of profit or loss attributable to redeemable noncontrolling interests	3,480
Redemption value adjustment for the current period	(4,964)
Measurement period adjustments	(1,426)
Dividends paid	(1,626)
Exercises of redeemable noncontrolling interests	(10,770)
Balance at September 30, 2020	$	100,005

For 2019, the increase in redeemable noncontrolling interests was primarily due to the interests acquired through acquisitions during the first quarter of 2019, as discussed in Note 3.

During 2020, the Company paid $13.1 million related to the purchase of certain noncontrolling interests where the option related to the purchase had been exercised in the fourth quarter of 2019.