Segment Information (Tables)

6 Months Ended

Jun. 30, 2013

Reportable segment information is as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
(DOLLARS IN THOUSANDS)	2013			2012			2013			2012
Net sales:
Flavors	$	374,041		$	361,371		$	730,401		$	711,258
Fragrances		383,594			359,946			755,070			720,675

Consolidated	$	757,635		$	721,317		$	1,485,471		$	1,431,933


Segment profit:
Flavors	$	89,919		$	80,633		$	172,955		$	160,313
Fragrances		71,913			63,635			140,270			119,716
Global expenses		(17,169	)		(11,960	)		(29,761	)		(25,145	)
Restructuring and other charges, net		(2,105	)		—			(2,105	)		(1,668	)
Operational improvement initiative costs ⁽¹⁾		(162	)		—			(1,360	)		—

Operating profit		142,396			132,308			279,999			253,216
Interest expense		(12,860	)		(10,613	)		(24,013	)		(21,423	)
Other income, net ⁽²⁾		11,209			845			12,282			1,088

Income before taxes	$	140,745		$	122,540		$	268,268		$	232,881

⁽¹⁾	Operational improvement initiative costs relate to the closing of a smaller facility in Europe and certain manufacturing activities in Asia, while transferring production to larger facilities in each respective region.

⁽²⁾	Other income, net includes a $16.1 million gain on the sale of a non-operating asset for the three and six months ended June 30, 2013.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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