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GOODWILL AND INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2014
GOODWILL AND INTANGIBLE ASSETS [Abstract]  
Schedule of intangible assets
The following table summarizes intangible assets with determinable useful lives by major category as of December 31, 2014 and 2013:

  
  
2014
  
2013
 
(in thousands except weighted average amortization years)
 
Weighted Average Amortization Years
  
Cost
  
Accumulated Amortization
  
Cost
  
Accumulated Amortization
 
Technological know-how
  
20.0
  
$
6,459
  
$
(4,352
)
 
$
8,606
  
$
(5,328
)
Customer relationships
  
20.0
   
6,938
   
(4,170
)
  
7,944
   
(4,359
)
Patents, trademarks, non-compete agreements and other
  
19.2
   
9,753
   
(5,868
)
  
9,630
   
(5,947
)
Total finite-lived intangibles
  
19.7
  
$
23,150
  
$
(14,390
)
 
$
26,180
  
$
(15,634
)
Changes in goodwill by business segment
The changes in goodwill for the years ended December 31, 2014 and 2013, by reportable business segment, were as follows:

(in thousands)
 
Flavors & Fragrances
  
Color
  
Corporate & Other
  
Consolidated
 
Balance as of December 31, 2012
 
$
135,784
  
$
311,650
  
$
3,884
  
$
451,318
 
Currency translation impact
  
853
   
5,673
   
(575
)
  
5,951
 
Balance as of December 31, 2013
 
$
136,637
  
$
317,323
  
$
3,309
  
$
457,269
 
Currency translation impact
  
(10,614
)
  
(22,050
)
  
(333
)
  
(32,997
)
Impairment
  
—
   
(158
)
  
—
   
(158
)
Balance as of December 31, 2014
 
$
126,023
  
$
295,115
  
$
2,976
  
$
424,114