XML 31 R19.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Segment and Geographic Information | 12 Months Ended
--- | ---
Dec. 31, 2015
Segment and Geographic Information [Abstract] |
Segment and Geographic Information | 10. Segment and Geographic Information The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The Company evaluates performance based on operating income of the respective business units before restructuring and other charges, interest expense and income taxes (“segment operating income”). Total revenue and segment operating income by business segment and geographic region include both sales to customers, as reported in the Company’s Consolidated Statements of Earnings, and intersegment sales, which are accounted for at prices that approximate market prices and are eliminated in consolidation. Assets by business segment and geographic region are those assets used in the Company’s operations in each segment and geographic region. Segment assets reflect the allocation of goodwill to each segment. Corporate & Other assets consist primarily of fixed assets and investments. Segment Information The Company determines its operating segments based on information utilized by its chief operating decision maker to allocate resources and assess performance. Segment performance is evaluated on operating income of the respective business units before restructuring charges which are reported in the Corporate & Other segment. The Company’s reportable segments consist of the Flavors & Fragrances, Color, and Asia Pacific segments. The Asia Pacific segment, which was previously reported in the Corporate & Other segment, meets the quantitative thresholds outlined in ASC 280, Segment Reporting, to be reported separately as of December 31, 2015. The Company’s Flavors & Fragrances segment produces flavor and fragrance products that impart a desired taste, texture, aroma or other characteristic to a broad range of consumer and other products. The Color segment produces natural and synthetic color systems for pharmaceuticals, foods and beverages; colors and formulations for cosmetics; and technical colors for industrial applications. The Asia Pacific segment is managed on a geographic basis and produces color, flavor and fragrance products for the Asia Pacific countries. The results of operations for the Company’s businesses in Central and South America have been included in the Flavors & Fragrances segment, beginning in 2015. Previously, they had been reported in the Corporate & Other segment. All prior year results have been restated to reflect each of these changes. Restructuring and other costs related to continuing operations for the years ended December 31, 2015, 2014, and 2013, are further described in Note 12, Restructuring Charges, and are included in the operating income (loss) results in the Corporate & Other segment below. Consistent with presentation in the Consolidated Balance Sheets and Statements of Cash Flows, the below amounts for assets, capital expenditures, and depreciation and amortization include discontinued operations for all periods presented and are included in the Corporate & Other segment.
(In thousands) |  | Flavors & Fragrances |  |  | Color |  |  | Asia Pacific |  |  | Corporate & Other |  |  | Consolidated |
2015: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 793,386 |  |  | $ | 452,203 |  |  | $ | 130,375 |  |  | $ | — |  |  | $ | 1,375,964 |
Intersegment revenue |  |  | 25,623 |  |  |  | 18,736 |  |  |  | 180 |  |  |  | — |  |  |  | 44,539 |
Total revenue |  |  | 819,009 |  |  |  | 470,939 |  |  |  | 130,555 |  |  |  | — |  |  |  | 1,420,503 |
Operating income (loss) |  |  | 121,874 |  |  |  | 94,799 |  |  |  | 25,496 |  |  |  | (75,828 | ) |  |  | 166,341 |
Interest expense |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 16,945 |  |  |  | 16,945 |
Earnings (loss) before income taxes from continuing operations |  |  | 121,874 |  |  |  | 94,799 |  |  |  | 25,496 |  |  |  | (92,773 | ) |  |  | 149,396 |
Assets |  |  | 806,401 |  |  |  | 706,769 |  |  |  | 82,696 |  |  |  | 115,571 |  |  |  | 1,711,437 |
Capital expenditures |  |  | 56,233 |  |  |  | 18,933 |  |  |  | 2,643 |  |  |  | 2,132 |  |  |  | 79,941 |
Depreciation and amortization |  |  | 24,049 |  |  |  | 18,529 |  |  |  | 2,349 |  |  |  | 3,012 |  |  |  | 47,939 |
2014: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 825,976 |  |  | $ | 488,762 |  |  | $ | 133,083 |  |  | $ | — |  |  | $ | 1,447,821 |
Intersegment revenue |  |  | 25,570 |  |  |  | 20,574 |  |  |  | 229 |  |  |  | — |  |  |  | 46,373 |
Total revenue |  |  | 851,546 |  |  |  | 509,336 |  |  |  | 133,312 |  |  |  | — |  |  |  | 1,494,194 |
Operating income (loss) |  |  | 120,888 |  |  |  | 114,014 |  |  |  | 25,122 |  |  |  | (129,359 | ) |  |  | 130,665 |
Interest expense |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 16,067 |  |  |  | 16,067 |
Earnings (loss) before income taxes from continuing operations |  |  | 120,888 |  |  |  | 114,014 |  |  |  | 25,122 |  |  |  | (145,426 | ) |  |  | 114,598 |
Assets |  |  | 819,366 |  |  |  | 747,738 |  |  |  | 84,842 |  |  |  | 113,260 |  |  |  | 1,765,206 |
Capital expenditures |  |  | 41,244 |  |  |  | 31,883 |  |  |  | 2,010 |  |  |  | 4,261 |  |  |  | 79,398 |
Depreciation and amortization |  |  | 26,316 |  |  |  | 18,843 |  |  |  | 2,473 |  |  |  | 3,824 |  |  |  | 51,456 |
2013: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 854,515 |  |  | $ | 475,061 |  |  | $ | 132,550 |  |  | $ | — |  |  | $ | 1,462,126 |
Intersegment revenue |  |  | 26,071 |  |  |  | 21,246 |  |  |  | 97 |  |  |  | — |  |  |  | 47,414 |
Total revenue |  |  | 880,586 |  |  |  | 496,307 |  |  |  | 132,647 |  |  |  | — |  |  |  | 1,509,540 |
Operating income (loss) |  |  | 121,806 |  |  |  | 107,214 |  |  |  | 22,161 |  |  |  | (77,401 | ) |  |  | 173,780 |
Interest expense |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 16,147 |  |  |  | 16,147 |
Earnings (loss) before income taxes from continuing operations |  |  | 121,806 |  |  |  | 107,214 |  |  |  | 22,161 |  |  |  | (93,548 | ) |  |  | 157,633 |
Assets |  |  | 901,870 |  |  |  | 778,864 |  |  |  | 87,708 |  |  |  | 102,292 |  |  |  | 1,870,734 |
Capital expenditures |  |  | 59,086 |  |  |  | 38,639 |  |  |  | 1,670 |  |  |  | 4,851 |  |  |  | 104,246 |
Depreciation and amortization |  |  | 27,575 |  |  |  | 17,607 |  |  |  | 2,543 |  |  |  | 4,291 |  |  |  | 52,016 |
Geographic Information The Company has manufacturing facilities or sales offices in North America, Europe, Asia, Australia, South America and Africa. The Company’s annual revenue from continuing operations summarized by geographic location is as follows:
(In thousands) |  | 2015 |  |  | 2014 |  |  | 2013 |
Revenue from external customers: |  |  |  |  |  |  |  |  |
North America |  | $ | 744,481 |  |  | $ | 750,345 |  |  | $ | 782,088 |
Europe |  |  | 349,100 |  |  |  | 389,588 |  |  |  | 382,077 |
Asia Pacific |  |  | 177,559 |  |  |  | 193,163 |  |  |  | 188,917 |
Other |  |  | 104,824 |  |  |  | 114,725 |  |  |  | 109,044 |
Consolidated |  | $ | 1,375,964 |  |  | $ | 1,447,821 |  |  | $ | 1,462,126 |
Long-lived assets: |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 524,921 |  |  | $ | 537,668 |  |  | $ | 531,005 |
Europe |  |  | 397,244 |  |  |  | 423,972 |  |  |  | 506,352 |
Asia Pacific |  |  | 26,589 |  |  |  | 29,948 |  |  |  | 32,148 |
Other |  |  | 9,340 |  |  |  | 14,229 |  |  |  | 11,404 |
Consolidated |  | $ | 958,094 |  |  | $ | 1,005,817 |  |  | $ | 1,080,909 |
Sales in the United States, based on the final country of destination of the Company’s products, were $592.9 million, $573.6 million and $590.0 million in 2015, 2014 and 2013, respectively. No other country of destination exceeded 10% of consolidated sales. Total long-lived assets in the United States amounted to $469.4 million, $450.8 million and $389.7 million at December 31, 2015, 2014 and 2013, respectively. Product Information The Company’s revenue from continuing operations summarized by product portfolio is as follows:
(In thousands) |  | 2015 |  |  | 2014 |  |  | 2013 |
Traditional Flavors & Fragrances |  | $ | 667,941 |  |  | $ | 715,789 |  |  | $ | 727,659 |
Natural Ingredients |  |  | 240,793 |  |  |  | 227,538 |  |  |  | 244,155 |
Food & Beverage Colors |  |  | 328,200 |  |  |  | 335,771 |  |  |  | 308,371 |
Non-Food Colors |  |  | 183,569 |  |  |  | 215,096 |  |  |  | 229,355 |
Interdivision Revenue |  |  | (44,539 | ) |  |  | (46,373 | ) |  |  | (47,414 | )
Consolidated |  | $ | 1,375,964 |  |  | $ | 1,447,821 |  |  | $ | 1,462,126 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration