XML 49 R37.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Retirement Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Retirement Plans [Abstract] |
Funded Status of Defined Benefit Plan | Although the Company intends for these defined contribution plans to be the primary retirement benefit for most employees, the Company also has several defined benefit plans. The funded status of the defined benefit plans was as follows at December 31:
(In thousands) |  | 2023 |  |  | 2022 |
Benefit obligation at beginning of year |  | $ | 32,367 |  |  | $ | 41,780 |
Service cost |  |  | 1,741 |  |  |  | 1,622 |
Interest cost |  |  | 1,886 |  |  |  | 953 |
Foreign currency exchange rate changes |  |  | 999 |  |  |  | (1,488 | )
Benefits and settlements paid |  |  | (2,737 | ) |  |  | (1,724 | )
Actuarial loss (gain) |  |  | 2,157 |  |  |  | (8,776 | )
Benefit obligation at end of year |  |  | 36,413 |  |  |  | 32,367 |
Plan assets at beginning of year |  |  | 19,929 |  |  |  | 32,982 |
Company contributions |  |  | 1,598 |  |  |  | 1,027 |
Foreign currency exchange rate changes |  |  | 920 |  |  |  | (2,430 | )
Benefits paid |  |  | (2,737 | ) |  |  | (1,724 | )
Actual gain (loss) on plan assets |  |  | 1,560 |  |  |  | (9,926 | )
Plan assets at end of year |  |  | 21,270 |  |  |  | 19,929 |
Funded status |  | $ | (15,143 | ) |  | $ | (12,438 | )
Accumulated benefit obligation |  | $ | 34,786 |  |  | $ | 31,472 |
Amounts Recognized in Consolidated Balance Sheets | Amounts recognized in the Consolidated Balance Sheets at December 31:
(In thousands) |  | 2023 |  |  | 2022 |
Accrued employee and retiree benefits |  | $ | (19,165 | ) |  | $ | (16,822 | )
Other accrued expenses |  |  | (726 | ) |  |  | (745 | )
Other assets |  |  | 4,748 |  |  |  | 5,129 |
Net liability |  | $ | (15,143 | ) |  | $ | (12,438 | )
Annual Benefit Cost | Components of annual benefit cost:
(In thousands) |  | 2023 |  |  | 2022 |  |  | 2021 |
Service cost |  | $ | 1,741 |  |  | $ | 1,622 |  |  | $ | 1,740 |
Interest cost |  |  | 1,886 |  |  |  | 953 |  |  |  | 851 |
Expected return on plan assets |  |  | (1,007 | ) |  |  | (785 | ) |  |  | (728 | )
Recognized actuarial (gain) loss |  |  | (656 | ) |  |  | 32 |  |  |  | 267 |
Settlement income |  |  | - |  |  |  | - |  |  |  | (151 | )
Defined benefit expense |  | $ | 1,964 |  |  | $ | 1,822 |  |  | $ | 1,979 |
Weighted Average Assumptions | Weighted average liability assumptions as of December 31:
|  | 2023 |  |  | 2022 |
Discount rate |  |  | 5.15 | % |  |  | 5.12 | %
Expected return on plan assets |  |  | 4.91 | % |  |  | 4.89 | %
Rate of compensation increase |  |  | 1.14 | % |  |  | 0.90 | %
Weighted average cost assumptions for the year ended December 31:
|  | 2023 |  |  | 2022 |  |  | 2021 |
Discount rate |  |  | 5.12 | % |  |  | 2.35 | % |  |  | 1.87 | %
Expected return on plan assets |  |  | 4.89 | % |  |  | 2.54 | % |  |  | 2.17 | %
Rate of compensation increase |  |  | 0.90 | % |  |  | 1.02 | % |  |  | 1.07 | %
Amounts Recognized in Accumulated Other Comprehensive Loss | Amounts in accumulated other comprehensive loss at December 31 were as follows:
(In thousands) |  | 2023 |  |  | 2022 |
Unrecognized net actuarial loss |  | $ | 2,936 |  |  | $ | 2,210 |
Prior service cost |  |  | 155 |  |  |  | 153 |
Total before tax effects |  | $ | 3,091 |  |  | $ | 2,363 |
Pension Adjustments Recognized in Accumulated Other Comprehensive Income | The pension adjustments, net of tax, recognized in OCI, were as follows:
(In thousands) |  | 2023 |  |  | 2022 |  |  | 2021 |
Net actuarial gain (loss) arising during the period |  | $ | 192 |  |  | $ | (1,466 | ) |  | $ | 1,528 |
Amortization of actuarial (gain) loss, included in defined benefit expense |  |  | (479 | ) |  |  | 27 |  |  |  | 84 |
Pension adjustment, net of tax |  | $ | (287 | ) |  | $ | (1,439 | ) |  | $ | 1,612 |
Pension Plan Assets by Asset Category | The following table presents the Company’s pension plan assets by asset category as of December 31, 2023 and 2022:
|  | Fair Value as of December 31, |  |  | Fair Value Measurements at December 31, 2023 Using Fair Value Hierarchy |  |  | Fair Value as of December 31, |  |  | Fair Value Measurements at December 31, 2022 Using Fair Value Hierarchy |
(In thousands) |  | 2023 |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | 2022 |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Equity Funds |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Domestic |  | $ | 5,623 |  |  | $ | 5,623 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,208 |  |  | $ | 5,208 |  |  | $ | — |  |  | $ | — |
International |  |  | 47 |  |  |  | — |  |  |  | 47 |  |  |  | — |  |  |  | 55 |  |  |  | — |  |  |  | 55 |  |  |  | — |
International Fixed Income Funds |  |  | 14,486 |  |  |  | 1,574 |  |  |  | 12,912 |  |  |  | — |  |  |  | 14,551 |  |  |  | 1,060 |  |  |  | 13,491 |  |  |  | — |
Other investments |  |  | 1,114 |  |  |  | 1,097 |  |  |  | 17 |  |  |  | — |  |  |  | 115 |  |  |  | 84 |  |  |  | 31 |  |  |  | — |
Total assets at fair value |  | $ | 21,270 |  |  | $ | 8,294 |  |  | $ | 12,976 |  |  | $ | — |  |  | $ | 19,929 |  |  | $ | 6,352 |  |  | $ | 13,577 |  |  | $ | — |

X
- Definition Tabular disclosure of pension adjustment amounts recognized in AOCI net of tax as of the report date. + References No definition available. + Details
Name: | sxt_ScheduleOfAmountsRecognizedInAccumulatedOtherComprehensiveIncomeLossNetOfTaxTableTextBlock
Namespace Prefix: | sxt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of benefit obligation and plan assets of defined benefit plan with accumulated benefit obligation in excess of plan assets. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 17 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480482/715-20-55-17 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-3 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-3 + Details
Name: | us-gaap_ScheduleOfAccumulatedBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (d)(5) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (k) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the costs related to the various types of retirement plans including defined benefit pension plan cost, defined contribution plan cost, other postretirement benefit plan cost, and net periodic benefit cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 20 -Topic 715 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfCostsOfRetirementPlansTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration