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Segment and Geographic Information | 12 Months Ended
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Dec. 31, 2017
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 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 and other charges which are reported in Corporate & Other. The Company’s three reportable segments are Flavors & Fragrances and Color segments, which are both managed on a product line basis, and the Asia Pacific segment, which is managed on a geographic basis. 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 consumers and other products. The Color segment produces natural and synthetic color systems for foods, beverages, pharmaceuticals and nutraceuticals; colors, ingredients and systems for cosmetics; specialty inks and technical colors for industrial applications. The Asia Pacific segment is managed on a geographic basis and produces and distributes color, flavor, and fragrance products for the Asia Pacific countries. The Company’s corporate expenses and restructuring and other costs are included in the “Corporate & Other” category. The results of operations for certain of the Company’s cosmetic and fragrance businesses in the Asia Pacific segment are now reported in the Color segment and Flavors & Fragrances segment, respectively. The results for all prior years have been restated to reflect these changes. Restructuring and other costs related to continuing operations for the years ended December 31, 2017, 2016, and 2015, are further described in Note 12, Restructuring Charges, and Note 14, Divestiture, and are included in the operating income (loss) results in Corporate & Other below. Consistent with presentation in the Company’s 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 Corporate & Other. In addition, the Company’s corporate expenses are included in Corporate & Other.
(In thousands) |  | Flavors & Fragrances |  |  | Color |  |  | Asia Pacific |  |  | Corporate & Other |  |  | Consolidated |
2017: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 727,026 |  |  | $ | 512,811 |  |  | $ | 122,428 |  |  | $ | — |  |  | $ | 1,362,265 |
Intersegment revenue |  |  | 19,917 |  |  |  | 13,552 |  |  |  | 765 |  |  |  | — |  |  |  | 34,234 |
Total revenue |  |  | 746,943 |  |  |  | 526,363 |  |  |  | 123,193 |  |  |  | — |  |  |  | 1,396,499 |
Operating income (loss) |  |  | 114,343 |  |  |  | 113,381 |  |  |  | 20,772 |  |  |  | (80,690 | ) |  |  | 167,806 |
Interest expense |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 19,383 |  |  |  | 19,383 |
Earnings (loss) before income taxes from continuing operations |  |  | 114,343 |  |  |  | 113,381 |  |  |  | 20,772 |  |  |  | (100,073 | ) |  |  | 148,423 |
Assets |  |  | 773,173 |  |  |  | 720,328 |  |  |  | 99,770 |  |  |  | 131,069 |  |  |  | 1,724,340 |
Capital expenditures |  |  | 31,989 |  |  |  | 18,797 |  |  |  | 3,557 |  |  |  | 2,001 |  |  |  | 56,344 |
Depreciation and amortization |  |  | 23,611 |  |  |  | 19,902 |  |  |  | 2,303 |  |  |  | 2,702 |  |  |  | 48,518 |
2016: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 771,434 |  |  | $ | 490,862 |  |  | $ | 120,914 |  |  | $ | — |  |  | $ | 1,383,210 |
Intersegment revenue |  |  | 24,377 |  |  |  | 13,269 |  |  |  | 282 |  |  |  | — |  |  |  | 37,928 |
Total revenue |  |  | 795,811 |  |  |  | 504,131 |  |  |  | 121,196 |  |  |  | — |  |  |  | 1,421,138 |
Operating income (loss) |  |  | 124,059 |  |  |  | 105,814 |  |  |  | 23,603 |  |  |  | (67,867 | ) |  |  | 185,609 |
Interest expense |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 18,324 |  |  |  | 18,324 |
Earnings (loss) before income taxes from continuing operations |  |  | 124,059 |  |  |  | 105,814 |  |  |  | 23,603 |  |  |  | (86,191 | ) |  |  | 167,285 |
Assets |  |  | 785,449 |  |  |  | 673,754 |  |  |  | 92,203 |  |  |  | 116,454 |  |  |  | 1,667,860 |
Capital expenditures |  |  | 57,622 |  |  |  | 15,422 |  |  |  | 5,199 |  |  |  | 2,973 |  |  |  | 81,216 |
Depreciation and amortization |  |  | 22,897 |  |  |  | 19,421 |  |  |  | 2,042 |  |  |  | 2,659 |  |  |  | 47,019 |
2015: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 795,239 |  |  | $ | 469,718 |  |  | $ | 111,007 |  |  | $ | — |  |  | $ | 1,375,964 |
Intersegment revenue |  |  | 24,211 |  |  |  | 12,174 |  |  |  | 180 |  |  |  | — |  |  |  | 36,565 |
Total revenue |  |  | 819,450 |  |  |  | 481,892 |  |  |  | 111,187 |  |  |  | — |  |  |  | 1,412,529 |
Operating income (loss) |  |  | 122,285 |  |  |  | 97,657 |  |  |  | 22,227 |  |  |  | (75,828 | ) |  |  | 166,341 |
Interest expense |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 16,945 |  |  |  | 16,945 |
Earnings (loss) before income taxes from continuing operations |  |  | 122,285 |  |  |  | 97,657 |  |  |  | 22,227 |  |  |  | (92,773 | ) |  |  | 149,396 |
Assets |  |  | 806,755 |  |  |  | 714,138 |  |  |  | 74,972 |  |  |  | 107,867 |  |  |  | 1,703,732 |
Capital expenditures |  |  | 56,233 |  |  |  | 18,933 |  |  |  | 2,643 |  |  |  | 2,132 |  |  |  | 79,941 |
Depreciation and amortization |  |  | 24,049 |  |  |  | 19,025 |  |  |  | 1,853 |  |  |  | 3,012 |  |  |  | 47,939 |
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) |  | 2017 |  |  | 2016 |  |  | 2015 |
Revenue from external customers: |  |  |  |  |  |  |  |  |
North America |  | $ | 718,708 |  |  | $ | 745,660 |  |  | $ | 744,481 |
Europe |  |  | 324,597 |  |  |  | 342,818 |  |  |  | 349,100 |
Asia Pacific |  |  | 208,935 |  |  |  | 196,884 |  |  |  | 177,559 |
Other |  |  | 110,025 |  |  |  | 97,848 |  |  |  | 104,824 |
Consolidated |  | $ | 1,362,265 |  |  | $ | 1,383,210 |  |  | $ | 1,375,964 |
Long-lived assets: |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 546,661 |  |  | $ | 548,674 |  |  | $ | 541,654 |
Europe |  |  | 405,238 |  |  |  | 361,029 |  |  |  | 397,244 |
Asia Pacific |  |  | 31,390 |  |  |  | 30,006 |  |  |  | 26,589 |
Other |  |  | 7,576 |  |  |  | 11,090 |  |  |  | 9,340 |
Consolidated |  | $ | 990,865 |  |  | $ | 950,799 |  |  | $ | 974,827 |
Sales in the United States, based on the final country of destination of the Company’s products, were $574.5 million, $595.0 million, and $592.9 million in 2017, 2016, and 2015, respectively. No other country of destination exceeded 10% of consolidated sales. Total long-lived assets in the United States amounted to $491.8 million, $495.3 million, and $486.1 million at December 31, 2017, 2016, and 2015, respectively. Product Information The Company’s revenue from continuing operations summarized by product portfolio is as follows:
(In thousands) |  | 2017 |  |  | 2016 |  |  | 2015 |
Traditional Flavors & Fragrances |  | $ | 618,798 |  |  | $ | 651,870 |  |  | $ | 666,528 |
Natural Ingredients |  |  | 224,983 |  |  |  | 240,710 |  |  |  | 240,793 |
Food & Beverage Colors |  |  | 303,796 |  |  |  | 301,751 |  |  |  | 300,637 |
Non-Food Colors |  |  | 248,922 |  |  |  | 226,807 |  |  |  | 204,571 |
Interdivision Revenue |  |  | (34,234 | ) |  |  | (37,928 | ) |  |  | (36,565 | )
Consolidated |  | $ | 1,362,265 |  |  | $ | 1,383,210 |  |  | $ | 1,375,964 |

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- 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 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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