Divestitures (Tables)

9 Months Ended

Sep. 30, 2021

The assets and liabilities related to the inks and fragrances (excluding its essential oils product line) product lines are recorded in Assets Held for Sale and Liabilities Held for Sale as of December 31, 2020, as follows:

(In thousands)	December 31, 2020
Assets held for sale:
Trade accounts receivable	$	20,722
Inventories		25,045
Prepaid expenses and other current assets		1,843
Property, plant, and equipment, net		3,434
Intangible assets		1,716
Assets held for sale	$	52,760

Liabilities held for sale:
Trade accounts payable	$	13,967
Accrued salaries, wages, and withholdings from employees		1,739
Other accrued expenses		1,633
Liabilities held for sale	$	17,339

Divestiture and Other Related Costs

The Company reports all costs associated with the divestitures in Corporate & Other. The following table summarizes the divestiture & other related costs for the three months ended September 30, 2021:

(In thousands)		Yogurt Fruit Preparations				Fragrances				Inks				Corporate/ Other				Total
Other costs - Selling and administrative expenses⁽¹⁾		$	102			$	149			$	(157	)		$	147			$	241

(1)

Other costs – Selling and administrative expenses include employee separation costs, professional services, accelerated depreciation, and other related costs and income.

(In thousands)	Yogurt Fruit Preparations			Fragrances		Inks			Corporate/ Other		Total
Other costs - Selling and administrative expenses⁽¹⁾	$	(446	)	$	247	$	158		$	353	$	312
Other costs – Cost of Products Sold		-			7		(207	)		52		(148	)
Total	$	(446	)	$	254	$	(49	)	$	405	$	164

(1)

Other costs – Selling and administrative expenses include employee separation costs, professional services, accelerated depreciation, and other related costs and income.

The Company reports all costs associated with the divestitures in Corporate & Other. The following table summarizes the divestiture & other related costs for the nine months ended September 30, 2021:

(In thousands)	Yogurt Fruit Preparations		Fragrances		Inks			Corporate/ Other		Total
Non-cash impairment charges – Selling and administrative expenses	$	-	$	1,062	$	-		$	-	$	1,062
Non-cash charges – Cost of products sold		-		37		(9	)		-		28
Reclassification of foreign currency translation and related items – Selling and administrative expenses		-		10,193		-			-		10,193
Other costs - Selling and administrative expenses⁽¹⁾		631		1,365		(362	)		584		2,218
Total	$	631	$	12,657	$	(371	)	$	584	$	13,501

(1)

Other costs – Selling and administrative expenses include employee separation costs, professional services, accelerated depreciation, and other related costs.

The Company reports all costs associated with the divestitures in Corporate & Other. The following table summarizes the divestiture & other related costs for the nine months ended September 30, 2020:

(In thousands)	Yogurt Fruit Preparations			Fragrances		Inks			Corporate/ Other			Total
Non-cash impairment charges – Selling and administrative expenses	$	2,597		$	339	$	9,295		$	(6	)	$	12,225
Non-cash charges – Cost of products sold		1,679			77		(207	)		242			1,791
Reclassification of foreign currency translation and related items – Selling and administrative expenses		-			-		(8,639	)		-			(8,639	)
Other costs - Selling and administrative expenses⁽¹⁾		(71	)		2,353		931			1,890			5,103
Total	$	4,205		$	2,769	$	1,380		$	2,126		$	10,480

(1)

Other costs – Selling and administrative expenses include environmental remediation, employee separation costs, professional services, and other related costs.