Segment Information

6 Months Ended

Jun. 30, 2012

Segment Information

Note 8. Segment Information:

The Company is organized into two operating segments: Flavors and Fragrances. These segments align with the internal structure of the Company used to manage these businesses. Performance of these operating segments is evaluated based on profit before Restructuring and other charges, net, Interest expense, Other (income) expense, net and Taxes on income.

The Global caption represents corporate and headquarters-related expenses which include legal, finance, human resources, certain incentive compensation expenses and other R&D and administrative expenses that are not allocated to individual operating segments.

Reportable segment information is as follows:

	Three months Ended June 30,						Six months Ended June 30,
(DOLLARS IN THOUSANDS)	2012			2011			2012			2011
Net sales:
Flavors	$	361,371		$	345,407		$	711,258		$	683,994
Fragrances		359,946			370,182			720,675			745,866
Consolidated	$	721,317		$	715,589		$	1,431,933		$	1,429,860
Segment profit:
Flavors	$	80,633		$	71,003		$	160,313		$	149,957
Fragrances		63,635			62,260			119,716			130,964
Global		(11,960	)		(11,293	)		(25,145	)		(25,566	)
Restructuring and other charges, net		—			(3,985	)		(1,668	)		(4,013	)
Operating profit		132,308			117,985			253,216			251,342
Interest expense		(10,613	)		(12,009	)		(21,423	)		(23,689	)
Other income (expense), net		845			(1,055	)		1,088			(7,111	)
Income before taxes	$	122,540		$	104,921		$	232,881		$	220,542

The 2011 amounts have been conformed to the 2012 presentation.

Net sales are attributed to individual regions based upon the destination of product delivery. Net sales related to the U.S. for the three months ended June 30, 2012 and 2011 were $167 million and $166 million, respectively, and for the six months ended June 30, 2012 and 2011 were $335 million and $329 million, respectively. Net sales attributed to all foreign countries in total for the three months ended June 30, 2012 and 2011 were $554 million and $550 million, respectively and for the six months ended June 30, 2012 and 2011 were $1,097 million and $1,101 million, respectively. No non-U.S. country had net sales in any period presented greater than 6% of total consolidated net sales.