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Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2019
Segment Reporting [Abstract] |
Reportable Segment Information |
| Capital Expenditures |  | Depreciation and Amortization
(DOLLARS IN THOUSANDS) | 2019 |  | 2018 |  | 2017 |  | 2019 |  | 2018 |  | 2017
Taste | $ | 80,267 |  |  | $ | 70,028 |  |  | $ | 68,937 |  |  | $ | 56,674 |  |  | $ | 54,534 |  |  | $ | 53,534 |
Scent | 92,077 |  |  | 82,206 |  |  | 53,089 |  |  | 65,386 |  |  | 64,018 |  |  | 59,951 |
Frutarom | 55,356 |  |  | 12,878 |  |  | N/A |  |  | 194,956 |  |  | 47,738 |  |  | N/A |
Global assets | 8,278 |  |  | 4,982 |  |  | 6,947 |  |  | 6,314 |  |  | 7,502 |  |  | 4,482 |
Consolidated | $ | 235,978 |  |  | $ | 170,094 |  |  | $ | 128,973 |  |  | $ | 323,330 |  |  | $ | 173,792 |  |  | $ | 117,967 |
eportable segment information is as follows:
| December 31,
(DOLLARS IN THOUSANDS) | 2019 |  | 2018 |  | 2017
Net sales |  |  |  |  |
Taste | $ | 1,731,919 |  |  | $ | 1,737,349 |  |  | $ | 1,632,166 |
Scent | 1,922,717 |  |  | 1,880,630 |  |  | 1,766,553 |
Frutarom | 1,485,448 |  |  | 359,560 |  |  | N/A |
Consolidated | $ | 5,140,084 |  |  | $ | 3,977,539 |  |  | $ | 3,398,719 |
| December 31,
(DOLLARS IN THOUSANDS) | 2019 |  | 2018
Segment assets |  |  |
Taste | $ | 2,222,154 |  |  | $ | 2,024,573 |
Scent | 2,549,113 |  |  | 2,340,131 |
Frutarom | 8,306,003 |  |  | 7,961,538 |
Global assets | 210,141 |  |  | 563,153 |
Consolidated | $ | 13,287,411 |  |  | $ | 12,889,395 |
| December 31,
(DOLLARS IN THOUSANDS) | 2019 |  | 2018 |  | 2017
Segment profit: |  |  |  |  |
Taste | $ | 382,590 |  |  | $ | 395,190 |  |  | $ | 360,483 |
Scent | 333,522 |  |  | 329,548 |  |  | 318,954 |
Frutarom | 126,804 |  |  | 27,358 |  |  | N/A |
Global expenses | (49,836 | ) |  | (74,730 | ) |  | (60,810 | )
Operational Improvement Initiatives (a) | (2,267 | ) |  | (2,169 | ) |  | (1,802 | )
Acquisition Related Costs (b) | — |  |  | 1,289 |  |  | (20,389 | )
Integration Related Costs (c) | (55,160 | ) |  | (7,188 | ) |  | (4,179 | )
Legal Charges/Credits, net (d) | — |  |  | — |  |  | (1,000 | )
Tax Assessment (e) | — |  |  | — |  |  | (5,331 | )
Restructuring and Other Charges, net (f) | (29,765 | ) |  | (4,086 | ) |  | (19,711 | )
(Losses) gains on Sale of Assets | (2,367 | ) |  | 1,177 |  |  | 184 |
FDA Mandated Product Recall (g) | (250 | ) |  | 7,125 |  |  | (11,000 | )
UK Pension Settlement Charges (h) | — |  |  | — |  |  | (2,769 | )
Frutarom Acquisition Related Costs (i) | (5,940 | ) |  | (89,632 | ) |  | — |
Compliance Review & Legal Defense Costs (j) | (11,314 | ) |  | — |  |  | — |
N&B Transaction Related Costs (k) | (20,747 | ) |  | — |  |  | — |
Operating Profit | 665,270 |  |  | 583,882 |  |  | 552,630 |
Interest expense | (138,221 | ) |  | (132,558 | ) |  | (65,363 | )
Loss on extinguishment of debt | — |  |  | (38,810 | ) |  | — |
Other income, net | 30,403 |  |  | 35,243 |  |  | 49,778 |
Income before taxes | $ | 557,452 |  |  | $ | 447,757 |  |  | $ | 537,045 |
Profit margin |  |  |  |  |
Taste | 22.1 | % |  | 22.7 | % |  | 22.1 | %
Scent | 17.3 | % |  | 17.5 | % |  | 18.1 | %
Frutarom | 8.5 | % |  | 7.6 | % |  | N/A |
Consolidated | 12.9 | % |  | 14.7 | % |  | 16.3 | %
(a) | For 2019, represents accelerated depreciation related to plant relocations in India and China. For 2018, represents accelerated depreciation in India and Taiwan asset write off. 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" included in Cost of goods sold and transaction costs related to the acquisition of Fragrance Resources and PowderPure within Selling and administrative expenses.
(c) | For 2019 and 2018, represents costs related to the integration of the Frutarom acquisition, principally advisory services. For 2017, represents costs related to the integration of the David Michael and Fragrance Resources acquisitions.
(d) | Represents an additional charge related to litigation settlement.
(e) | Represents the reserve for payment of a tax assessment related to commercial rent for prior periods.
(f) | For 2019, represents costs primarily related to the Frutarom Integration Initiative, the 2019 Severance Program, including severance related to outsourcing the IT function. For 2018, represents severance costs related to the 2017 Productivity Program and costs associated with the termination of agent relationships in a subsidiary. For 2017, represents severance costs related to the 2017 Productivity Program.
(g) | For 2019, represents additional claims that management will pay to co-packers. For 2018, principally represents recoveries from the supplier for the third and fourth quarter, partially offset by final payments to the customer made for the effected product in the first quarter. For 2017, represents management's best estimate of losses related to the previously disclosed FDA mandated recall.
(h) | Represents pension settlement charges incurred in one of the Company's UK pension plans.
(i) | Represents transaction-related costs and expenses related to the acquisition of Frutarom. For 2019, amount primarily includes amortization for inventory "step-up" costs and transaction costs. For 2018, amount primarily includes $23.5 million of amortization for inventory "step-up" costs and $66.0 million of transaction costs included in Selling and administrative expenses.
(j) | Costs related to reviewing the nature of inappropriate payments and review of compliance in certain other countries. In addition, includes legal costs for related shareholder lawsuits.
(k) | Represents costs and expenses related to the pending transaction with Nutrition & Biosciences Inc.
Net Sales by Geographic Area |
| Net Sales by Geographic Area
(DOLLARS IN THOUSANDS) | 2019 |  | 2018 |  | 2017
Europe, Africa and Middle East | $ | 2,081,758 |  |  | $ | 1,396,316 |  |  | $ | 1,065,596 |
Greater Asia | 1,162,992 |  |  | 991,015 |  |  | 903,546 |
North America | 1,170,497 |  |  | 1,010,126 |  |  | 901,821 |
Latin America | 724,837 |  |  | 580,082 |  |  | 527,756 |
Consolidated | $ | 5,140,084 |  |  | $ | 3,977,539 |  |  | $ | 3,398,719 |
| Net Sales by Geographic Area
(DOLLARS IN THOUSANDS) | 2019 |  | 2018 |  | 2017
Net sales related to the U.S. | $ | 1,052,654 |  |  | $ | 952,550 |  |  | $ | 864,050 |
Net sales attributed to all foreign countries | 4,087,430 |  |  | 3,024,989 |  |  | 2,534,669 |

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