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v3.23.2

Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2023
Segment Information [Abstract] |
Operating Results by Segment | Operating results by segment for the periods presented are as follows:
(In thousands) |  | Flavors & Extracts |  |  | Color |  |  | Asia Pacific |  |  | Corporate & Other |  |  | Consolidated |
Three months ended June 30, 2023: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 181,752 |  |  | $ | 156,532 |  |  | $ | 36,029 |  |  | $ | - |  |  | $ | 374,313 |
Intersegment revenue |  |  | 6,532 |  |  |  | 3,931 |  |  |  | - |  |  |  | - |  |  |  | 10,463 |
Total revenue |  | $ | 188,284 |  |  | $ | 160,463 |  |  | $ | 36,029 |  |  | $ | - |  |  | $ | 384,776 |
Operating income (loss) |  | $ | 24,456 |  |  | $ | 29,217 |  |  | $ | 7,575 |  |  | $ | (9,657 | ) |  | $ | 51,591 |
Interest expense |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 6,352 |  |  |  | 6,352 |
Earnings (loss) before income taxes |  | $ | 24,456 |  |  | $ | 29,217 |  |  | $ | 7,575 |  |  | $ | (16,009 | ) |  | $ | 45,239 |
Three months ended June 30, 2022: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 182,415 |  |  | $ | 152,070 |  |  | $ | 37,221 |  |  | $ | - |  |  | $ | 371,706 |
Intersegment revenue |  |  | 6,922 |  |  |  | 4,198 |  |  |  | 107 |  |  |  | - |  |  |  | 11,227 |
Total revenue |  | $ | 189,337 |  |  | $ | 156,268 |  |  | $ | 37,328 |  |  | $ | - |  |  | $ | 382,933 |
Operating income (loss) |  | $ | 30,013 |  |  | $ | 31,178 |  |  | $ | 7,721 |  |  | $ | (13,668 | ) |  | $ | 55,244 |
Interest expense |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 3,083 |  |  |  | 3,083 |
Earnings (loss) before income taxes |  | $ | 30,013 |  |  | $ | 31,178 |  |  | $ | 7,721 |  |  | $ | (16,751 | ) |  | $ | 52,161 |
(In thousands) |  | Flavors & Extracts |  |  | Color |  |  | Asia Pacific |  |  | Corporate & Other |  |  | Consolidated |
Six months ended June 30, 2023: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 353,724 |  |  | $ | 313,481 |  |  | $ | 76,114 |  |  | $ | - |  |  | $ | 743,319 |
Intersegment revenue |  |  | 13,412 |  |  |  | 8,143 |  |  |  | - |  |  |  | - |  |  |  | 21,555 |
Total revenue |  | $ | 367,136 |  |  | $ | 321,624 |  |  | $ | 76,114 |  |  | $ | - |  |  | $ | 764,874 |
Operating income (loss) |  | $ | 46,636 |  |  | $ | 61,102 |  |  | $ | 16,816 |  |  | $ | (22,125 | ) |  | $ | 102,429 |
Interest expense |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 12,354 |  |  |  | 12,354 |
Earnings (loss) before income taxes |  | $ | 46,636 |  |  | $ | 61,102 |  |  | $ | 16,816 |  |  | $ | (34,479 | ) |  | $ | 90,075 |
Six months ended June 30, 2022: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 357,617 |  |  | $ | 295,998 |  |  | $ | 73,612 |  |  | $ | - |  |  | $ | 727,227 |
Intersegment revenue |  |  | 14,447 |  |  |  | 8,708 |  |  |  | 181 |  |  |  | - |  |  |  | 23,336 |
Total revenue |  | $ | 372,064 |  |  | $ | 304,706 |  |  | $ | 73,793 |  |  | $ | - |  |  | $ | 750,563 |
Operating income (loss) |  | $ | 57,592 |  |  | $ | 61,835 |  |  | $ | 15,925 |  |  | $ | (27,319 | ) |  | $ | 108,033 |
Interest expense |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 6,076 |  |  |  | 6,076 |
Earnings (loss) before income taxes |  | $ | 57,592 |  |  | $ | 61,835 |  |  | $ | 15,925 |  |  | $ | (33,395 | ) |  | $ | 101,957 |
Product Lines | Product Lines
(In thousands) |  | Flavors & Extracts |  |  | Color |  |  | Asia Pacific |  |  | Consolidated |
Three months ended June 30, 2023: |  |  |  |  |  |  |  |  |  |  |  |
Flavors, Extracts & Flavor Ingredients |  | $ | 133,688 |  |  | $ | - |  |  | $ | - |  |  | $ | 133,688 |
Natural Ingredients |  |  | 54,596 |  |  |  | - |  |  |  | - |  |  |  | 54,596 |
Food & Pharmaceutical Colors |  |  | - |  |  |  | 120,165 |  |  |  | - |  |  |  | 120,165 |
Personal Care |  |  | - |  |  |  | 40,298 |  |  |  | - |  |  |  | 40,298 |
Asia Pacific |  |  | - |  |  |  | - |  |  |  | 36,029 |  |  |  | 36,029 |
Intersegment Revenue |  |  | (6,532 | ) |  |  | (3,931 | ) |  |  | - |  |  |  | (10,463 | )
Total revenue from external customers |  | $ | 181,752 |  |  | $ | 156,532 |  |  | $ | 36,029 |  |  | $ | 374,313 |
Three months ended June 30, 2022: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Flavors, Extracts & Flavor Ingredients |  | $ | 130,578 |  |  | $ | - |  |  | $ | - |  |  | $ | 130,578 |
Natural Ingredients |  |  | 58,759 |  |  |  | - |  |  |  | - |  |  |  | 58,759 |
Food & Pharmaceutical Colors |  |  | - |  |  |  | 113,784 |  |  |  | - |  |  |  | 113,784 |
Personal Care |  |  | - |  |  |  | 42,116 |  |  |  | - |  |  |  | 42,116 |
Inks |  |  | - |  |  |  | 368 |  |  |  | - |  |  |  | 368 |
Asia Pacific |  |  | - |  |  |  | - |  |  |  | 37,328 |  |  |  | 37,328 |
Intersegment Revenue |  |  | (6,922 | ) |  |  | (4,198 | ) |  |  | (107 | ) |  |  | (11,227 | )
Total revenue from external customers |  | $ | 182,415 |  |  | $ | 152,070 |  |  | $ | 37,221 |  |  | $ | 371,706 |
(In thousands) |  | Flavors & Extracts |  |  | Color |  |  | Asia Pacific |  |  | Consolidated |
Six months ended June 30, 2023: |  |  |  |  |  |  |  |  |  |  |  |
Flavors, Extracts & Flavor Ingredients |  | $ | 258,513 |  |  | $ | - |  |  | $ | - |  |  | $ | 258,513 |
Natural Ingredients |  |  | 108,623 |  |  |  | - |  |  |  | - |  |  |  | 108,623 |
Food & Pharmaceutical Colors |  |  | - |  |  |  | 238,912 |  |  |  | - |  |  |  | 238,912 |
Personal Care |  |  | - |  |  |  | 82,712 |  |  |  | - |  |  |  | 82,712 |
Asia Pacific |  |  | - |  |  |  | - |  |  |  | 76,114 |  |  |  | 76,114 |
Intersegment Revenue |  |  | (13,412 | ) |  |  | (8,143 | ) |  |  | - |  |  |  | (21,555 | )
Total revenue from external customers |  | $ | 353,724 |  |  | $ | 313,481 |  |  | $ | 76,114 |  |  | $ | 743,319 |
Six months ended June 30, 2022: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Flavors, Extracts & Flavor Ingredients |  | $ | 257,096 |  |  | $ | - |  |  | $ | - |  |  | $ | 257,096 |
Natural Ingredients |  |  | 114,968 |  |  |  | - |  |  |  | - |  |  |  | 114,968 |
Food & Pharmaceutical Colors |  |  | - |  |  |  | 216,893 |  |  |  | - |  |  |  | 216,893 |
Personal Care |  |  | - |  |  |  | 86,962 |  |  |  | - |  |  |  | 86,962 |
Inks |  |  | - |  |  |  | 851 |  |  |  | - |  |  |  | 851 |
Asia Pacific |  |  | - |  |  |  | - |  |  |  | 73,793 |  |  |  | 73,793 |
Intersegment Revenue |  |  | (14,447 | ) |  |  | (8,708 | ) |  |  | (181 | ) |  |  | (23,336 | )
Total revenue from external customers |  | $ | 357,617 |  |  | $ | 295,998 |  |  | $ | 73,612 |  |  | $ | 727,227 |
Geographical Markets | Geographic Markets
(In thousands) |  | Flavors & Extracts |  |  | Color |  |  | Asia Pacific |  |  | Consolidated |
Three months ended June 30, 2023: |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 137,135 |  |  | $ | 77,554 |  |  | $ | 62 |  |  | $ | 214,751 |
Europe |  |  | 31,867 |  |  |  | 44,397 |  |  |  | 24 |  |  |  | 76,288 |
Asia Pacific |  |  | 6,290 |  |  |  | 16,308 |  |  |  | 35,394 |  |  |  | 57,992 |
Other |  |  | 6,460 |  |  |  | 18,273 |  |  |  | 549 |  |  |  | 25,282 |
Total revenue from external customers |  | $ | 181,752 |  |  | $ | 156,532 |  |  | $ | 36,029 |  |  | $ | 374,313 |
Three months ended June 30, 2022: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 138,885 |  |  | $ | 79,360 |  |  | $ | 2 |  |  | $ | 218,247 |
Europe |  |  | 31,165 |  |  |  | 39,615 |  |  |  | 50 |  |  |  | 70,830 |
Asia Pacific |  |  | 6,800 |  |  |  | 16,413 |  |  |  | 36,807 |  |  |  | 60,020 |
Other |  |  | 5,565 |  |  |  | 16,682 |  |  |  | 362 |  |  |  | 22,609 |
Total revenue from external customers |  | $ | 182,415 |  |  | $ | 152,070 |  |  | $ | 37,221 |  |  | $ | 371,706 |
(In thousands) |  | Flavors & Extracts |  |  | Color |  |  | Asia Pacific |  |  | Consolidated |
Six months ended June 30, 2023: |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 269,103 |  |  | $ | 155,931 |  |  | $ | 124 |  |  | $ | 425,158 |
Europe |  |  | 60,794 |  |  |  | 87,649 |  |  |  | 127 |  |  |  | 148,570 |
Asia Pacific |  |  | 11,491 |  |  |  | 34,457 |  |  |  | 74,589 |  |  |  | 120,537 |
Other |  |  | 12,336 |  |  |  | 35,444 |  |  |  | 1,274 |  |  |  | 49,054 |
Total revenue from external customers |  | $ | 353,724 |  |  | $ | 313,481 |  |  | $ | 76,114 |  |  | $ | 743,319 |
Six months ended June 30, 2022: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 265,587 |  |  | $ | 149,288 |  |  | $ | 60 |  |  | $ | 414,935 |
Europe |  |  | 63,770 |  |  |  | 81,593 |  |  |  | 131 |  |  |  | 145,494 |
Asia Pacific |  |  | 16,537 |  |  |  | 32,429 |  |  |  | 70,789 |  |  |  | 119,755 |
Other |  |  | 11,723 |  |  |  | 32,688 |  |  |  | 2,632 |  |  |  | 47,043 |
Total revenue from external customers |  | $ | 357,617 |  |  | $ | 295,998 |  |  | $ | 73,612 |  |  | $ | 727,227 |

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