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Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Information [Abstract]  
Segment Information
8.
Segment Information

The Company evaluates performance based on operating income before share-based compensation (except for share-based compensation expense associated with stock grants to certain business unit leaders); restructuring and other charges, including Portfolio Optimization Plan costs; 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 accounts receivables from the securitization program, investments, deferred tax assets, and fixed assets.

The Company determines its operating segments based on information utilized by its chief operating decision maker (CODM) to allocate resources and assess performance. The Company’s CODM is the President and Chief Executive Officer. The CODM uses segment operating income or loss to allocate resources, which includes employees, financial, or capital resources, predominantly in the annual budget and forecasting process. The CODM considers budget-to-actual and year-over-year variances on a monthly basis for segment operating income or loss when allocating capital and personnel resources to the segments. Segment performance is evaluated based on operating income of the respective business units before share-based compensation (except for share-based compensation expense associated with stock grants to certain business unit leaders), restructuring and other charges, including the Portfolio Optimization Plan costs, and other costs (which are reported in Corporate & Other), interest expense, and income taxes.

The Company’s three reportable segments are the Flavors & Extracts 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 & Extracts segment produces flavor, extracts, and essential oils products that impart a desired taste, texture, aroma, or other characteristics to a broad range of consumer and other products. The Color segment produces natural and synthetic color systems for foods, beverages, pharmaceuticals, and nutraceuticals; colors, ingredients, and systems for personal care; and technical colors for industrial applications. The Asia Pacific segment is managed on a geographic basis and produces and distributes color, flavor, and essential oils products for the Asia Pacific countries. The Company’s corporate expenses, share-based compensation (except for share-based compensation expense associated with stock grants to certain business unit leaders), restructuring and other charges, including Portfolio Optimization Plan costs as further described in Note 3, Portfolio Optimization Plan, and certain other costs are included in the “Corporate & Other” category.

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, 2026:
                              
Total segment revenue
   $
213,179
     $
216,137
     $
47,589
     $
-
     $
476,905
  
Intersegment revenue
    
(8,521
)
    
(6,145
)
    
(158
)
    
-
      
(14,824
)
Consolidated revenue from external customers
    
204,658
      
209,992
      
47,431
      
-
      
462,081
  
Cost of products sold
    
147,173
      
115,404
      
26,705
      
-
      
289,282
  
Selling and administrative expense
    
27,054
      
40,074
      
9,766
      
19,205
      
96,099
  
Operating income (loss)
    
30,431
      
54,514
      
10,960
      
(19,205
)
    
76,700
  
Interest expense
                                    
8,174
  
Earnings before income taxes
                                   $
68,526
  
                                         
Assets
    
925,512
      
969,338
      
133,983
      
342,270
      
2,371,103
  
Capital expenditures
    
13,761
      
22,249
      
684
      
2,082
      
38,776
  
Depreciation and amortization
    
7,911
      
6,367
      
578
      
1,034
      
15,890
  
                                         
Three months ended June 30, 2025:
                                        
Total segment revenue
   $
203,251
     $
179,282
     $
42,744
     $
-
     $
425,277
  
Intersegment revenue
    
(5,770
)
    
(5,210
)
    
(67
)
    
-
      
(11,047
)
Consolidated revenue from external customers
    
197,481
      
174,072
      
42,677
      
-
      
414,230
  
Cost of products sold
    
142,625
      
101,762
      
25,222
      
1,789
      
271,398
  
Selling and administrative expense
    
26,350
      
33,388
      
8,512
      
16,876
      
85,126
  
Operating income (loss)
    
28,506
      
38,922
      
8,943
      
(18,665
)
    
57,706
  
Interest expense
                                    
7,391
  
Earnings before income taxes
                                   $
50,315
  
                                         
Assets
    
843,445
      
887,924
      
130,214
      
342,978
      
2,204,561
  
Capital expenditures
    
14,472
      
4,959
      
429
      
1,321
      
21,181
  
Depreciation and amortization
    
7,676
      
6,062
      
570
      
952
      
15,260
  

 
(In thousands)
  
Flavors &
Extracts
    
Color
    
Asia Pacific
    
Corporate
& Other
    
Consolidated
  
Six months ended June 30, 2026:
                              
Total segment revenue
  
$
415,004
    
$
414,313
    
$
92,844
    
$
-
    
$
922,161
  
Intersegment revenue
    
(14,240
)
    
(9,799
)
    
(207
)
    
-
      
(24,246
)
Consolidated revenue from external customers
    
400,764
      
404,514
      
92,637
      
-
      
897,915
  
Cost of products sold
    
289,108
      
231,307
      
52,013
      
-
      
572,428
  
Selling and administrative expense
    
54,475
      
76,628
      
18,484
      
32,472
      
182,059
  
Operating income (loss)
    
57,181
      
96,579
      
22,140
      
(32,472
)
    
143,428
  
Interest expense
                                    
16,076
  
Earnings before income taxes
                                  
$
127,352
  
                                         
Assets
    
925,512
      
969,338
      
133,983
      
342,270
      
2,371,103
  
Capital expenditures
    
24,213
      
39,013
      
993
      
3,294
      
67,513
  
Depreciation and amortization
    
15,671
      
12,524
      
1,163
      
2,070
      
31,428
  
                                         
Six months ended June 30, 2025:
                                        
Total segment revenue
  
$
396,932
    
$
347,032
    
$
84,645
    
$
-
    
$
828,609
  
Intersegment revenue
    
(11,653
)
    
(10,324
)
    
(77
)
    
-
      
(22,054
)
Consolidated revenue from external customers
    
385,279
      
336,708
      
84,568
      
-
      
806,555
  
Cost of products sold
    
280,559
      
198,199
      
49,585
      
3,603
      
531,946
  
Selling and administrative expense
    
51,225
      
64,735
      
16,598
      
30,815
      
163,373
  
Operating income (loss)
    
53,495
      
73,774
      
18,385
      
(34,418
)
    
111,236
  
Interest expense
                                    
14,732
  
Earnings before income taxes
                                  
$
96,504
  
                                         
Assets
    
843,445
      
887,924
      
130,214
      
342,978
      
2,204,561
  
Capital expenditures
    
27,008
      
8,481
      
604
      
1,942
      
38,035
  
Depreciation and amortization
    
15,316
      
11,998
      
1,118
      
1,902
      
30,334
  

Product Lines
(In thousands)
  
Flavors &
Extracts
    
Color
    
Asia Pacific
    
Consolidated
  
Three months ended June 30, 2026:
                        
Flavors, Extracts & Flavor Ingredients
  
$
146,613
    
$
-
    
$
-
    
$
146,613
  
Agricultural Ingredients
    
66,566
      
-
      
-
      
66,566
  
Food & Pharmaceutical Colors
    
-
      
167,741
      
-
      
167,741
  
Personal Care
    
-
      
48,396
      
-
      
48,396
  
Asia Pacific
    
-
      
-
      
47,589
      
47,589
  
Intersegment Revenue
    
(8,521
)
    
(6,145
)
    
(158
)
    
(14,824
)
Total revenue from external customers
  
$
204,658
    
$
209,992
    
$
47,431
    
$
462,081
  
                                 
Three months ended June 30, 2025:
                                
Flavors, Extracts & Flavor Ingredients
  
$
141,736
    
$
-
    
$
-
    
$
141,736
  
Agricultural Ingredients
    
61,515
      
-
      
-
      
61,515
  
Food & Pharmaceutical Colors
    
-
      
136,377
      
-
      
136,377
  
Personal Care
    
-
      
42,905
      
-
      
42,905
  
Asia Pacific
    
-
      
-
      
42,744
      
42,744
  
Intersegment Revenue
    
(5,770
)
    
(5,210
)
    
(67
)
    
(11,047
)
Total revenue from external customers
  
$
197,481
    
$
174,072
    
$
42,677
    
$
414,230
  

(In thousands)
  
Flavors &
Extracts
    
Color
    
Asia Pacific
    
Consolidated
  
Six months ended June 30, 2026:
                        
Flavors, Extracts & Flavor Ingredients
  
$
285,177
    
$
-
    
$
-
    
$
285,177
  
Agricultural Ingredients
    
129,827
      
-
      
-
      
129,827
  
Food & Pharmaceutical Colors
    
-
      
319,021
      
-
      
319,021
  
Personal Care
    
-
      
95,292
      
-
      
95,292
  
Asia Pacific
    
-
      
-
      
92,844
      
92,844
  
Intersegment Revenue
    
(14,240
)
    
(9,799
)
    
(207
)
    
(24,246
)
Total revenue from external customers
  
$
400,764
    
$
404,514
    
$
92,637
    
$
897,915
  
                                 
Six months ended June 30, 2025:
                                
Flavors, Extracts & Flavor Ingredients
  
$
271,917
    
$
-
    
$
-
    
$
271,917
  
Agricultural Ingredients
    
125,015
      
-
      
-
      
125,015
  
Food & Pharmaceutical Colors
    
-
      
260,977
      
-
      
260,977
  
Personal Care
    
-
      
86,055
      
-
      
86,055
  
Asia Pacific
    
-
      
-
      
84,645
      
84,645
  
Intersegment Revenue
    
(11,653
)
    
(10,324
)
    
(77
)
    
(22,054
)
Total revenue from external customers
  
$
385,279
    
$
336,708
    
$
84,568
    
$
806,555
  

Geographic Markets
(In thousands)
  
Flavors &
Extracts
    
Color
    
Asia Pacific
    
Consolidated
  
Three months ended June 30, 2026:
                        
North America
  
$
160,251
    
$
110,968
    
$
51
    
$
271,270
  
Europe
    
33,014
      
56,784
      
10
      
89,808
  
Asia Pacific
    
4,558
      
18,690
      
46,510
      
69,758
  
Other
    
6,835
      
23,550
      
860
      
31,245
  
Total revenue from external customers
  
$
204,658
    
$
209,992
    
$
47,431
    
$
462,081
  
                                 
Three months ended June 30, 2025:
                                
North America
  
$
152,292
    
$
84,402
    
$
14
    
$
236,708
  
Europe
    
33,284
      
50,686
      
16
      
83,986
  
Asia Pacific
    
4,722
      
17,048
      
41,078
      
62,848
  
Other
    
7,183
      
21,936
      
1,569
      
30,688
  
Total revenue from external customers
  
$
197,481
    
$
174,072
    
$
42,677
    
$
414,230
  

(In thousands)
  
Flavors &
Extracts
    
Color
    
Asia Pacific
    
Consolidated
  
Six months ended June 30, 2026:
                        
North America
  
$
319,194
    
$
208,736
    
$
92
    
$
528,022
  
Europe
    
62,414
      
113,802
      
17
      
176,233
  
Asia Pacific
    
7,377
      
39,641
      
89,688
      
136,706
  
Other
    
11,779
      
42,335
      
2,840
      
56,954
  
Total revenue from external customers
  
$
400,764
    
$
404,514
    
$
92,637
    
$
897,915
  
                                 
Six months ended June 30, 2025:
                                
North America
  
$
301,919
    
$
163,071
    
$
15
    
$
465,005
  
Europe
    
61,441
      
98,409
      
38
      
159,888
  
Asia Pacific
    
9,244
      
33,674
      
81,842
      
124,760
  
Other
    
12,675
      
41,554
      
2,673
      
56,902
  
Total revenue from external customers
  
$
385,279
    
$
336,708
    
$
84,568
    
$
806,555