Sensient Technologies (SXT) 10-Q 6 Nov 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014	Oct. 31, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'SENSIENT TECHNOLOGIES CORP	'
Entity Central Index Key	'0000310142	'
Current Fiscal Year End Date	'--12-31	'
Entity Well-known Seasoned Issuer	'Yes	'
Entity Voluntary Filers	'No	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	48,156,931
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-14	'

CONSOLIDATED_CONDENSED_STATEME

CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS (Unaudited) [Abstract]	'	'	'	'
Revenue	$364,504	$370,457	$1,105,002	$1,112,006
Cost of products sold	243,003	250,645	729,597	752,891
Selling and administrative expenses	85,407	70,685	280,981	224,231
Operating income	36,094	49,127	94,424	134,884
Interest expense	4,016	4,048	11,866	12,317
Earnings before income taxes	32,078	45,079	82,558	122,567
Income taxes	9,414	13,315	27,116	36,558
Earnings from continuing operations	22,664	31,764	55,442	86,009
Loss from discontinued operations, net of tax	-1,359	-239	-7,151	-763
Net earnings	$21,305	$31,525	$48,291	$85,246
Weighted average number of shares outstanding:	'	'	'	'
Basic (in shares)	47,902	49,761	48,799	49,741
Diluted (in shares)	48,230	49,946	49,080	49,910
Basic:	'	'	'	'
Continuing operations (in dollars per share)	$0.47	$0.64	$1.14	$1.73
Discontinued operations (in dollars per share)	($0.03)	$0	($0.15)	($0.02)
Earnings per common share (in dollars per share)	$0.44	$0.63	$0.99	$1.71
Diluted:	'	'	'	'
Continuing operations (in dollars per share)	$0.47	$0.64	$1.13	$1.72
Discontinued operations (in dollars per share)	($0.03)	$0	($0.15)	($0.02)
Earnings per common share (in dollars per share)	$0.44	$0.63	$0.98	$1.71
Dividends declared per common share (in dollars per share)	$0.25	$0.23	$0.73	$0.68

CONSOLIDATED_CONDENSED_STATEME1

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) [Abstract]	'	'	'	'
Comprehensive Income	($35,509)	$58,773	($3,299)	$86,816

CONSOLIDATED_CONDENSED_BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
CURRENT ASSETS:	'	'
Cash and cash equivalents	$25,789	$19,836
Trade accounts receivable, net	243,894	233,751
Inventories	475,011	474,452
Prepaid expenses and other current assets	74,729	61,786
Assets held for sale	581	0
TOTAL CURRENT ASSETS	820,004	789,825
OTHER ASSETS	70,870	47,786
INTANGIBLE ASSETS, NET	9,122	10,546
GOODWILL	437,515	457,269
PROPERTY, PLANT AND EQUIPMENT:	'	'
Land	42,423	56,343
Buildings	292,333	374,388
Machinery and equipment	712,828	751,267
Construction in progress	67,532	55,236
Property, Plant and Equipment, Gross, Total	1,115,116	1,237,234
Less accumulated depreciation	-625,396	-671,926
Property, Plant and Equipment, Net, Total	489,720	565,308
TOTAL ASSETS	1,827,231	1,870,734
CURRENT LIABILITIES:	'	'
Trade accounts payable	97,128	99,117
Accrued salaries, wages and withholdings from employees	30,427	32,669
Other accrued expenses	79,380	78,579
Income taxes	3,471	5,478
Short-term borrowings	18,953	7,050
TOTAL CURRENT LIABILITIES	229,359	222,893
OTHER LIABILITIES	34,580	28,495
ACCRUED EMPLOYEE AND RETIREE BENEFITS	21,382	28,538
LONG-TERM DEBT	441,610	348,124
SHAREHOLDERS' EQUITY:	'	'
Common stock	5,396	5,396
Additional paid-in capital	109,269	105,119
Earnings reinvested in the business	1,230,304	1,217,874
Treasury stock, at cost	-199,081	-91,707
Accumulated other comprehensive (loss) income	-45,588	6,002
TOTAL SHAREHOLDERS' EQUITY	1,100,300	1,242,684
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$1,827,231	$1,870,734

CONSOLIDATED_CONDENSED_STATEME2

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities:	'	'
Net earnings	$48,291	$85,246
Adjustments to arrive at net cash provided by operating activities:	'	'
Depreciation and amortization	39,461	39,051
Share-based compensation	4,035	1,963
Loss on assets	66,553	357
Deferred income taxes	-8,562	-1,100
Changes in operating assets and liabilities	-22,669	-7,748
Net cash provided by operating activities	127,109	117,769
Cash flows from investing activities:	'	'
Acquisition of property, plant and equipment	-46,726	-77,247
Proceeds from sale of assets	926	5,931
Other investing activity	-685	-165
Net cash used in investing activities	-46,485	-71,481
Cash flows from financing activities:	'	'
Proceeds from additional borrowings	191,060	80,574
Debt payments	-115,636	-82,365
Purchase of treasury stock	-108,753	0
Dividends paid	-35,861	-34,016
Proceeds from options exercised and other equity transactions	576	513
Net cash used in financing activities	-68,614	-35,294
Effect of exchange rate changes on cash and cash equivalents	-6,057	-1,801
Net increase in cash and cash equivalents	5,953	9,193
Cash and cash equivalents at beginning of period	19,836	15,062
Cash and cash equivalents at end of period	$25,789	$24,255

Accounting_Policies

Accounting Policies	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract ]	'
Accounting Policies	'
	1	Accounting Policies
	In the opinion of Sensient Technologies Corporation (the “Company”), the accompanying unaudited consolidated condensed financial statements contain all adjustments (consisting of only normal recurring adjustments) which are necessary to present fairly the financial position of the Company as of September 30, 2014, and December 31, 2013, the results of operations and comprehensive income for the three and nine months ended September 30, 2014 and 2013, and cash flows for the nine months ended September 30, 2014 and 2013.  The results of operations for any interim period are not necessarily indicative of the results to be expected for the full year.
	The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes.  Actual results could differ from those estimates.
	Expenses are charged to operations in the period incurred.  However, for interim reporting purposes, certain expenses are charged to operations based on a proportionate share of estimated annual amounts rather than as they are actually incurred. In interim periods, depreciation expense is estimated using actual depreciation on fixed assets that have been placed in service at the beginning of the year, combined with an estimate of depreciation expense on expected current year additions.
	On January 1, 2014, the Company adopted Accounting Standards Update (ASU) No. 2013-11, Income Taxes (Topic 740), Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, which requires companies to change the balance sheet presentation of certain unrecognized tax benefits and deferred tax assets. The adoption of this ASU had no material impact on the Company’s balance sheet presentation, financial condition or results of operations.
	On April 10, 2014, the FASB issued ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, which amends the definition of a discontinued operation in Accounting Standards Codification (“ASC”) 205-20 and requires companies to provide additional disclosures for disposal transactions. Under the revised standard, a discontinued operation represents a strategic shift that has or will have a major impact on an entity’s operations or financial results. ASU 2014-08 is required to be applied prospectively to all disposals that occur in annual periods beginning on or after December 15, 2014, with early adoption permitted.  The Company will prospectively apply the guidance to applicable transactions beginning in 2015.
	On May 28, 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers.  The requirements of the new standard are effective for interim and annual periods beginning after December 15, 2016 with early adoption not permitted. We are currently evaluating the expected impact of this new standard.
	Refer to the notes in the Company’s annual consolidated financial statements for the year ended December 31, 2013, for additional details of the Company's financial condition and a description of the Company’s accounting policies, which have been continued without change.

Fair_Value

Fair Value	9 Months Ended
	Sep. 30, 2014
Fair Value [Abstract]	'
Fair Value	'
	2	Fair Value
	ASC 820, Fair Value Measurements and Disclosures, defines fair value for financial assets and liabilities, establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. As of September 30, 2014, and December 31, 2013, the Company’s assets and liabilities subject to this standard are forward exchange contracts and investments in a money market fund and municipal investments. The fair value of the forward exchange contracts based on current pricing obtained for comparable derivative products (Level 2 inputs) was negligible and an asset of $0.2 million as of September 30, 2014 and December 31, 2013, respectively. The fair value of the investments based on September 30, 2014, and December 31, 2013, market quotes (Level 1 inputs) was an asset of $2.0 million and $19.8 million, respectively, and is reported in Other Assets in the Consolidated Condensed Balance Sheets.
	The carrying values of the Company’s cash and cash equivalents, trade accounts receivable, accounts payable, accrued expenses and short-term borrowings approximated fair values as of September 30, 2014. The fair value of the Company’s long-term debt, including current maturities, is estimated using discounted cash flows based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements (Level 2 inputs). The carrying value of the long-term debt at September 30, 2014, was $441.6 million. The fair value of the long-term debt at September 30, 2014, was $452.3 million.

Debt

Debt	9 Months Ended
	Sep. 30, 2014
Debt [Abstract]	'
Debt	'
	3	Debt
	On October 24, 2014, the Company entered into a $450 million credit facility, consisting of a $350 million revolver and a $100 million term loan. The revolver will mature on October 24, 2019. Interest rates on borrowings under the revolver are at LIBOR plus a margin based on the Company’s leverage ratio. Currently, when fully drawn, the interest rate is at LIBOR plus 1.375% under the new agreement. The term loan bears interest at LIBOR plus 1.375% and matures on October 24, 2019. The credit facility will be used to repay maturing debt and for general corporate purposes.

Segment_Information

Segment Information	9 Months Ended
	Sep. 30, 2014
Segment Information [Abstract]	'
Segment Information	'
	4	Segment Information
	Operating results by segment for the periods and at the dates presented are as follows:
	(In thousands)		Flavors & Fragrances				Corporate
					Color		& Other			Consolidated
	Three months ended September 30, 2014:
	Revenue from external customers		$	206,474	$	121,856	$	36,174		$	364,504
	Intersegment revenue			9,028		5,986		27			15,041
	Total revenue		$	215,502	$	127,842	$	36,201		$	379,545
	Operating income (loss)		$	30,169	$	29,100	$	(23,175	)	$	36,094
	Interest expense			-		-		4,016			4,016
	Earnings (loss) before income taxes		$	30,169	$	29,100	$	(27,191	)	$	32,078
	Three months ended September 30, 2013:
	Revenue from external customers		$	216,076	$	118,209	$	36,172		$	370,457
	Intersegment revenue			8,926		5,848		20			14,794
	Total revenue		$	225,002	$	124,057	$	36,192		$	385,251
	Operating income (loss)		$	31,205	$	27,902	$	(9,980	)	$	49,127
	Interest expense			-		-		4,048			4,048
	Earnings (loss) before income taxes		$	31,205	$	27,902	$	(14,028	)	$	45,079
	(In thousands)		Flavors & Fragrances				Corporate
					Color		& Other			Consolidated
	Nine months ended September 30, 2014:
	Revenue from external customers		$	618,555	$	376,050	$	110,397		$	1,105,002
	Intersegment revenue			26,518		16,356		138			43,012
	Total revenue		$	645,073	$	392,406	$	110,535		$	1,148,014
	Operating income (loss)		$	93,662	$	89,960	$	(89,198	)	$	94,424
	Interest expense			-		-		11,866			11,866
	Earnings (loss) before income taxes		$	93,662	$	89,960	$	(101,064	)	$	82,558
	Nine months ended September 30, 2013:
	Revenue from external customers		$	641,387	$	361,966	$	108,653		$	1,112,006
	Intersegment revenue			26,082		16,904		68			43,054
	Total revenue		$	667,469	$	378,870	$	108,721		$	1,155,060
	Operating income (loss)		$	91,595	$	83,758	$	(40,469	)	$	134,884
	Interest expense			-		-		12,317			12,317
	Earnings (loss) before income taxes		$	91,595	$	83,758	$	(52,786	)	$	122,567
	Beginning in the first quarter of 2014, the results of operations for the Company’s fragrances businesses in Asia Pacific and China, previously reported in the Corporate & Other segment, are reported in the Flavors & Fragrances segment, and the results of operations for the Company’s pharmaceutical flavors business, previously reported in the Flavors & Fragrances segment, are reported in the Color segment with the pharmaceutical colors business. Results for 2013 have been restated to reflect these changes.
	During the quarter ended September 30, 2014, one of the business units in the Color segment met the criteria to be presented as a discontinued operation and is classified accordingly in the Company’s Consolidated Condensed Statement of Earnings for all reported periods. See Note 12 Discontinued Operations for additional information.  The Company evaluates performance based on operating income of the respective segments before restructuring and other costs, interest expense and income taxes. The 2014 and 2013 restructuring and other costs related to continuing operations are reported in the Corporate & Other segment.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2014
Inventories [Abstract]	'
Inventories	'
	5	Inventories
	At September 30, 2014, and December 31, 2013, inventories included finished and in-process products totaling $333.4 million and $317.1 million, respectively, and raw materials and supplies of $141.6 million and $157.4 million, respectively.

Retirement_Plans

Retirement Plans	9 Months Ended
	Sep. 30, 2014
Retirement Plans [Abstract]	'
Retirement Plans	'
	6	Retirement Plans
	The Company’s components of annual benefit cost for the defined benefit plans for the periods presented are as follows:
			Three Months Ended						Nine Months Ended
			September 30,						September 30,
	(In thousands)		2014			2013			2014			2013
	Service cost		$	610		$	752		$	1,877		$	2,265
	Interest cost			502			599			1,704			1,803
	Expected return on plan assets			(478	)		(362	)		(1,432	)		(1,089	)
	Amortization of prior service cost			43			43			129			129
	Amortization of actuarial (gain) loss			(14	)		798			(331	)		2,397
	Settlement expense			289			-			289			-
	Curtailment gain			-			-			(115	)		-
	Total defined benefit expense		$	952		$	1,830		$	2,121		$	5,505

Shareholders_Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2014
Shareholders' Equity [Abstract]	'
Shareholders' Equity	'
	7	Shareholders’ Equity
	During the nine months ended September 30, 2014, the Company repurchased 2 million shares of its common stock for an aggregate price of $108.8 million. The Company did not repurchase any shares during the three months ended September 30, 2014.

Derivative_Instruments_and_Hed

Derivative Instruments and Hedging Activity	9 Months Ended
	Sep. 30, 2014
Derivative Instruments and Hedging Activity [Abstract]	'
Derivative Instruments and Hedging Activity	'
	8	Derivative Instruments and Hedging Activity
	The Company may use forward exchange contracts and foreign currency denominated debt to manage its exposure to foreign exchange risk by reducing the effect of fluctuating foreign currencies on short-term foreign currency denominated intercompany transactions, non-functional currency raw material purchases, non-functional currency sales and other known foreign currency exposures. These forward exchange contracts have maturities of less than twelve months. The Company’s primary hedging activities and their accounting treatment are summarized below:
	Forward exchange contracts – The forward exchange contracts that have been designated as hedges are accounted for as cash flow hedges. The Company had $24.7 million and $29.6 million of forward exchange contracts, designated as hedges, outstanding as of September 30, 2014, and December 31, 2013, respectively. Due to the short-term nature of these contracts, the results of these transactions are not material to the financial statements. In addition, the Company utilizes forward exchange contracts that are not designated as cash flow hedges and the results of these transactions are not material to the financial statements.
	Net investment hedges – The Company has certain debt denominated in Euros and Swiss Francs. These debt instruments have been designated as partial hedges of the Company’s Euro and Swiss Franc net asset positions. Changes in the fair value of this debt attributable to changes in the spot foreign exchange rate are recorded in foreign currency translation in other comprehensive income (“OCI”). As of September 30, 2014, and December 31, 2013, the total value of the Company’s Euro and Swiss Franc debt was $101.5 million and $96.5 million, respectively.  For the three and nine months ended September 30, 2014, the impact of foreign exchange rates on these debt instruments decreased debt by $8.3 million and $8.5 million, respectively, and has been recorded as foreign currency translation in OCI.

Income_Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2014
Income Taxes [Abstract]	'
Income Taxes	'
	9	Income Taxes
	The effective income tax rates for the quarters ended September 30, 2014 and 2013, were 29.3% and 29.5%, respectively. For the nine-month periods ended September 30, 2014 and 2013, the effective income tax rates were 32.8% and 29.8%, respectively. The effective tax rates in both 2014 and 2013 were impacted by restructuring activities and changes in estimates associated with the finalization of prior year foreign and domestic tax items, including the reversal of valuation allowances related to the impact of restructuring activities on tax loss and credit carryovers.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 30, 2014
Accumulated Other Comprehensive Income [Abstract]	'
Accumulated Other Comprehensive Income	'
	10	Accumulated Other Comprehensive Income
	The following tables summarize the changes in Accumulated Other Comprehensive Income (OCI) during the three- and nine-month periods ended September 30, 2014:
	Three Months Ended September 30, 2014
	(In thousands)		Cash Flow Hedges (a)			Pension			Foreign Currency			Total
						Items (a)			Items
	Balance as of June 30, 2014		$	341		$	(6,890	)	$	17,775		$	11,226
	Other comprehensive income (loss) before reclassifications			207			-			(57,020	)		(56,813	)
	Amounts reclassified from OCI			(28	)		27			-			(1	)
	Balance as of September 30, 2014		$	520		$	(6,863	)	$	(39,245	)	$	(45,588	)
	Nine Months Ended September 30, 2014
	(In thousands)		Cash Flow Hedges (a)			Pension			Foreign Currency			Total
						Items (a)			Items
	Balance as of December 31, 2013		$	(99	)	$	(6,768	)	$	12,869		$	6,002
	Other comprehensive income (loss) before reclassifications			957			-			(52,114	)		(51,157	)
	Amounts reclassified from OCI			(338	)		(95	)		-			(433	)
	Balance as of September 30, 2014		$	520		$	(6,863	)	$	(39,245	)	$	(45,588	)
		(a)	Cash Flow Hedges and Pension Items are net of tax.
	The following tables summarize the pension items reclassified out of OCI and into the Statement of Earnings during the three- and nine-month periods ended September 30, 2014 and 2013:
			Three Months Ended September 30,
	(In thousands)		2014			2013
	Amortization of pension expense included in selling and administrative expense:
	Prior service cost		$	43		$	43
	Actuarial (gain) loss			(14	)		798
	Total before income taxes			29			841
	Income tax benefit			(2	)		(315	)
	Total net of tax		$	27		$	526
			Nine Months Ended September 30,
	(In thousands)		2014			2013
	Amortization of pension expense included in selling and administrative expense:
	Prior service cost		$	129		$	129
	Actuarial (gain) loss			(331	)		2,397
	Total before income taxes			(202	)		2,526
	Income tax expense (benefit)			107			(945	)
	Total net of tax		$	(95	)	$	1,581

Restructuring

Restructuring	9 Months Ended
	Sep. 30, 2014
Restructuring [Abstract]	'
Restructuring	'
	11	Restructuring
	The Company incurred restructuring costs in both continuing and discontinued operations.  The discussion in this note relates to the combination of both continuing and discontinued operations unless otherwise noted. Restructuring costs related to discontinued operations are recorded in discontinued operations within the Company’s Consolidated Condensed Statements of Earnings and are discussed in Note 12 Discontinued Operations in more detail.
	In March of this year, the Company announced the 2014 Restructuring Plan related to eliminating underperforming operations, consolidating manufacturing facilities and improving efficiencies within the Company. The Company anticipates that the 2014 Restructuring Plan will impact several facilities and will generate cost savings estimated to be approximately $30 million per year, with incremental savings expected to be achieved over the next few years and the full benefit expected to be achieved after 2016. The Company also anticipates that the 2014 Restructuring Plan will include a reduction in headcount by approximately 300 employees, primarily direct and indirect manufacturing labor, and pre-tax charges of approximately $120 million to $130 million. In connection with the 2014 Restructuring Plan, less than 50 employees were terminated as of September 30, 2014 and limited savings were recognized by September 30, 2014.
	The Company determined that certain long-lived assets, including land, buildings and certain pieces of equipment associated with the identified underperforming operations were impaired. As a result, the Company has reduced the carrying amounts of these assets to approximately $34.9 million, their aggregate respective fair values, which were determined based on independent market valuations for these assets.
	For the three and nine months ended September 30, 2014, the Company recorded restructuring and other costs of $23.1 million and $88.8 million, respectively. The Company determined that this was the appropriate amount of costs to record in each period in accordance with GAAP and based on an internal review of the affected facilities and consultation with legal and other advisors. Included within the restructuring and other costs, the Company incurred $3.2 million for the nine months ended September 30, 2014, related to the 2014 proxy contest.  The 2014 proxy contest costs recorded for the three months ended September 30, 2014, was not material.
	The Company evaluates performance based on operating income of each segment before restructuring costs. The restructuring and other costs related to continuing operations are recorded in the Corporate & Other segment. The following table summarizes the restructuring and other costs by segment and discontinued operations for the three-and nine-month periods ended September 30, 2014 and 2013:
			Three Months Ended September 30,
	(In thousands)		2014			2013
	Flavors & Fragrances		$	20,064		$	4,167
	Color			-			1,497
	Corporate & Other			968			922
	Total Continuing Operations		$	21,032		$	6,586
	Discontinued Operations			2,071			-
	Total Restructuring		$	23,103		$	6,586
			Nine Months Ended September 30,
	(In thousands)		2014			2013
	Flavors & Fragrances		$	74,115		$	18,657
	Color			-			5,807
	Corporate & Other			4,672			1,537
	Total Continuing Operations		$	78,787		$	26,001
	Discontinued Operations			10,017			-
	Total Restructuring		$	88,804		$	26,001
	Details of the restructuring and other costs recorded during the three and nine month periods ended September 30, 2014 are as follows:
	(In thousands)		Three Months Ended			Nine Months Ended
			30-Sep-14			30-Sep-14
	Employee separation		$	1,033		$	14,611
	Long-lived asset impairment			18,210			66,082
	Intangibles impairment			-			1,049
	Write-down of inventory			2,671			2,671
	Gain on asset sales			-			(602	)
	Other costs (1)			1,189			4,993
	Total		$	23,103		$	88,804
		-1	Other costs include decommissioning costs, professional services, personnel moving costs, other related costs and 2014 proxy contest costs.
	The Company expects to incur approximately $12 million to $17 million of additional restructuring costs by the end of December 2014 and $20 million to $25 million of additional restructuring costs by the end of 2016, consisting primarily of employee separations, asset impairments, and other restructuring related costs. These estimates relate to both continuing operations and discontinued operations.
	For the three- and nine-month periods ended September 30, 2013, the Company recorded restructuring costs of $6.6 million ($4.4 million after-tax) and $26.0 million ($18.5 million after-tax), respectively, related to the 2013 restructuring program to relocate the Flavors & Fragrances Group headquarters to Chicago, and to implement a profit improvement plan across all segments of the Company. Details of the restructuring expenses recorded in Corporate & Other segment are as follows:
	Three months ended September 30, 2013
			Selling &			Cost of
	(In thousands)		Administrative			Products Sold			Total
	Employee separation		$	5,002		$	-		$	5,002
	Long-lived asset impairment			220			-			220
	Gain on asset sales			(3,019	)		-			(3,019	)
	Write-down of inventory			-			545			545
	Other costs(1)			3,838			-			3,838
	Total		$	6,041		$	545		$	6,586
	Nine months ended September 30, 2013
			Selling &			Cost of
	(In thousands)		Administrative			Products Sold			Total
	Employee separation		$	16,342		$	-		$	16,342
	Long-lived asset impairment			3,626			-			3,626
	Gain on asset sales			(3,019	)		-			(3,019	)
	Write-down of inventory			-			1,417			1,417
	Other costs(1)			7,635			-			7,635
	Total		$	24,584		$	1,417		$	26,001
		-1	Other costs include decommissioning, professional services, personnel (other than employee separations) and moving related costs.
	The following table summarizes the accrual for the restructuring and other charges for the nine months ended September 30, 2014:
			Employee			Asset Related
	(In thousands)		Separations			and Other			Total
	Balance as of December 31, 2013		$	4,562		$	1,588		$	6,150
	Restructuring and other costs			14,611			74,193			88,804
	Gain on sale of assets			-			602			602
	Cash spent			(4,812	)		(4,613	)		(9,425	)
	Reduction of assets			-			(69,802	)		(69,802	)
	Translation adjustment			(1,034	)		-			(1,034	)
Balance as of September 30, 2014		$	13,327		$	1,968		$	15,295

Discontinued_Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2014
Discontinued Operations [Abstract]	'
Discontinued Operations	'
	12	Discontinued Operations
	In connection with the 2014 Restructuring Plan, the Company approved a plan to dispose of a business unit within the Color segment. As of September 30, 2014, production ceased and the business met the criteria to be presented as a discontinued operation as established in ASC Subtopic 205-20, Discontinued Operations. The results of this business have been reported as a discontinued operation in the Consolidated Condensed Statements of Earnings for all periods presented. The corresponding current assets, which include property, plant, and equipment, have met the held for sale criteria and have been properly presented on the Consolidated Condensed Balance Sheet.
	The following tables summarize the discontinued operation’s results for the three and nine months ended September 30, 2014:
			Three Months Ended September 30,
	(In thousands)		2014			2013
	Revenue		$	910		$	1,536
	Loss before income taxes			(2,351	)		(338	)
	Income taxes			(992	)		(99	)
	Loss from discontinued operations, net of tax		$	(1,359	)	$	(239	)
			Nine Months Ended September 30,
	(In thousands)		2014			2013
	Revenue		$	3,209		$	4,433
	Loss before income taxes			(10,893	)		(1,079	)
	Income taxes			(3,742	)		(316	)
	Loss from discontinued operations, net of tax		$	(7,151	)	$	(763	)
	Included in the loss before income taxes from discontinued operations are pre-tax restructuring costs of $2.1 million and $10.0 million for the three and nine months ended September 30, 2014, respectively. See Note 11 Restructuring for additional information.

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2014
Commitments and Contingencies [Abstract]	'
Commitments and Contingencies	'
	13	Commitments and Contingencies
	The Company is involved in various claims and litigation arising in the normal course of business. In the judgment of management, which relies in part on information from Company counsel, the ultimate resolution of these actions will not materially affect the consolidated financial statements of the Company.

Segment_Information_Tables

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2014
Segment Information [Abstract]	'
Segment information	'
	Operating results by segment for the periods and at the dates presented are as follows:
	(In thousands)	Flavors & Fragrances				Corporate
				Color		& Other			Consolidated
	Three months ended September 30, 2014:
	Revenue from external customers	$	206,474	$	121,856	$	36,174		$	364,504
	Intersegment revenue		9,028		5,986		27			15,041
	Total revenue	$	215,502	$	127,842	$	36,201		$	379,545
	Operating income (loss)	$	30,169	$	29,100	$	(23,175	)	$	36,094
	Interest expense		-		-		4,016			4,016
	Earnings (loss) before income taxes	$	30,169	$	29,100	$	(27,191	)	$	32,078
	Three months ended September 30, 2013:
	Revenue from external customers	$	216,076	$	118,209	$	36,172		$	370,457
	Intersegment revenue		8,926		5,848		20			14,794
	Total revenue	$	225,002	$	124,057	$	36,192		$	385,251
	Operating income (loss)	$	31,205	$	27,902	$	(9,980	)	$	49,127
	Interest expense		-		-		4,048			4,048
	Earnings (loss) before income taxes	$	31,205	$	27,902	$	(14,028	)	$	45,079
	(In thousands)	Flavors & Fragrances				Corporate
				Color		& Other			Consolidated
	Nine months ended September 30, 2014:
	Revenue from external customers	$	618,555	$	376,050	$	110,397		$	1,105,002
	Intersegment revenue		26,518		16,356		138			43,012
	Total revenue	$	645,073	$	392,406	$	110,535		$	1,148,014
	Operating income (loss)	$	93,662	$	89,960	$	(89,198	)	$	94,424
	Interest expense		-		-		11,866			11,866
	Earnings (loss) before income taxes	$	93,662	$	89,960	$	(101,064	)	$	82,558
	Nine months ended September 30, 2013:
	Revenue from external customers	$	641,387	$	361,966	$	108,653		$	1,112,006
	Intersegment revenue		26,082		16,904		68			43,054
	Total revenue	$	667,469	$	378,870	$	108,721		$	1,155,060
	Operating income (loss)	$	91,595	$	83,758	$	(40,469	)	$	134,884
	Interest expense		-		-		12,317			12,317
	Earnings (loss) before income taxes	$	91,595	$	83,758	$	(52,786	)	$	122,567

Retirement_Plans_Tables

Retirement Plans (Tables)	9 Months Ended
	Sep. 30, 2014
Retirement Plans [Abstract]	'
Components of annual benefit cost	'
	The Company’s components of annual benefit cost for the defined benefit plans for the periods presented are as follows:
		Three Months Ended						Nine Months Ended
		September 30,						September 30,
	(In thousands)	2014			2013			2014			2013
	Service cost	$	610		$	752		$	1,877		$	2,265
	Interest cost		502			599			1,704			1,803
	Expected return on plan assets		(478	)		(362	)		(1,432	)		(1,089	)
	Amortization of prior service cost		43			43			129			129
	Amortization of actuarial (gain) loss		(14	)		798			(331	)		2,397
	Settlement expense		289			-			289			-
	Curtailment gain		-			-			(115	)		-
	Total defined benefit expense	$	952		$	1,830		$	2,121		$	5,505

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2014
Accumulated Other Comprehensive Income [Abstract]	'
Changes in accumulated other comprehensive income (AOCI)	'
	The following tables summarize the changes in Accumulated Other Comprehensive Income (OCI) during the three- and nine-month periods ended September 30, 2014:
	Three Months Ended September 30, 2014
	(In thousands)		Cash Flow Hedges (a)			Pension			Foreign Currency			Total
						Items (a)			Items
	Balance as of June 30, 2014		$	341		$	(6,890	)	$	17,775		$	11,226
	Other comprehensive income (loss) before reclassifications			207			-			(57,020	)		(56,813	)
	Amounts reclassified from OCI			(28	)		27			-			(1	)
	Balance as of September 30, 2014		$	520		$	(6,863	)	$	(39,245	)	$	(45,588	)
	Nine Months Ended September 30, 2014
	(In thousands)		Cash Flow Hedges (a)			Pension			Foreign Currency			Total
						Items (a)			Items
	Balance as of December 31, 2013		$	(99	)	$	(6,768	)	$	12,869		$	6,002
	Other comprehensive income (loss) before reclassifications			957			-			(52,114	)		(51,157	)
	Amounts reclassified from OCI			(338	)		(95	)		-			(433	)
	Balance as of September 30, 2014		$	520		$	(6,863	)	$	(39,245	)	$	(45,588	)
		(a)	Cash Flow Hedges and Pension Items are net of tax.
Pension items reclassified out of accumulated other comprehensive income	'
	The following tables summarize the pension items reclassified out of OCI and into the Statement of Earnings during the three- and nine-month periods ended September 30, 2014 and 2013:
			Three Months Ended September 30,
	(In thousands)		2014			2013
	Amortization of pension expense included in selling and administrative expense:
	Prior service cost		$	43		$	43
	Actuarial (gain) loss			(14	)		798
	Total before income taxes			29			841
	Income tax benefit			(2	)		(315	)
	Total net of tax		$	27		$	526
			Nine Months Ended September 30,
	(In thousands)		2014			2013
	Amortization of pension expense included in selling and administrative expense:
	Prior service cost		$	129		$	129
	Actuarial (gain) loss			(331	)		2,397
	Total before income taxes			(202	)		2,526
	Income tax expense (benefit)			107			(945	)
	Total net of tax		$	(95	)	$	1,581

Restructuring_Tables

Restructuring (Tables)	9 Months Ended
	Sep. 30, 2014
Restructuring [Abstract]	'
Restructuring cost by segment	'
	The following table summarizes the restructuring and other costs by segment and discontinued operations for the three-and nine-month periods ended September 30, 2014 and 2013:
			Three Months Ended September 30,
	(In thousands)		2014			2013
	Flavors & Fragrances		$	20,064		$	4,167
	Color			-			1,497
	Corporate & Other			968			922
	Total Continuing Operations		$	21,032		$	6,586
	Discontinued Operations			2,071			-
	Total Restructuring		$	23,103		$	6,586
			Nine Months Ended September 30,
	(In thousands)		2014			2013
	Flavors & Fragrances		$	74,115		$	18,657
	Color			-			5,807
	Corporate & Other			4,672			1,537
	Total Continuing Operations		$	78,787		$	26,001
	Discontinued Operations			10,017			-
	Total Restructuring		$	88,804		$	26,001
Summary of restructuring costs	'
	Details of the restructuring and other costs recorded during the three and nine month periods ended September 30, 2014 are as follows:
	(In thousands)		Three Months Ended			Nine Months Ended
			30-Sep-14			30-Sep-14
	Employee separation		$	1,033		$	14,611
	Long-lived asset impairment			18,210			66,082
	Intangibles impairment			-			1,049
	Write-down of inventory			2,671			2,671
	Gain on asset sales			-			(602	)
	Other costs (1)			1,189			4,993
	Total		$	23,103		$	88,804
		-1	Other costs include decommissioning costs, professional services, personnel moving costs, other related costs and 2014 proxy contest costs.
Summary of accrual for restructuring and other charges	'
	Details of the restructuring expenses recorded in Corporate & Other segment are as follows:
	Three months ended September 30, 2013
			Selling &			Cost of
	(In thousands)		Administrative			Products Sold			Total
	Employee separation		$	5,002		$	-		$	5,002
	Long-lived asset impairment			220			-			220
	Gain on asset sales			(3,019	)		-			(3,019	)
	Write-down of inventory			-			545			545
	Other costs(1)			3,838			-			3,838
	Total		$	6,041		$	545		$	6,586
	Nine months ended September 30, 2013
			Selling &			Cost of
	(In thousands)		Administrative			Products Sold			Total
	Employee separation		$	16,342		$	-		$	16,342
	Long-lived asset impairment			3,626			-			3,626
	Gain on asset sales			(3,019	)		-			(3,019	)
	Write-down of inventory			-			1,417			1,417
	Other costs(1)			7,635			-			7,635
	Total		$	24,584		$	1,417		$	26,001
		-1	Other costs include decommissioning, professional services, personnel (other than employee separations) and moving related costs.
	The following table summarizes the accrual for the restructuring and other charges for the nine months ended September 30, 2014:
			Employee			Asset Related
	(In thousands)		Separations			and Other			Total
	Balance as of December 31, 2013		$	4,562		$	1,588		$	6,150
	Restructuring and other costs			14,611			74,193			88,804
	Gain on sale of assets			-			602			602
	Cash spent			(4,812	)		(4,613	)		(9,425	)
	Reduction of assets			-			(69,802	)		(69,802	)
	Translation adjustment			(1,034	)		-			(1,034	)
	Balance as of September 30, 2014		$	13,327		$	1,968		$	15,295

Discontinued_Operations_Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2014
Discontinued Operations [Abstract]	'
Schedule of certain Consolidated Condensed Statements of Earnings information for discontinued operations	'
	The following tables summarize the discontinued operation’s results for the three and nine months ended September 30, 2014:
		Three Months Ended September 30,
	(In thousands)	2014			2013
	Revenue	$	910		$	1,536
	Loss before income taxes		(2,351	)		(338	)
	Income taxes		(992	)		(99	)
	Loss from discontinued operations, net of tax	$	(1,359	)	$	(239	)
		Nine Months Ended September 30,
	(In thousands)	2014			2013
	Revenue	$	3,209		$	4,433
	Loss before income taxes		(10,893	)		(1,079	)
	Income taxes		(3,742	)		(316	)
	Loss from discontinued operations, net of tax	$	(7,151	)	$	(763	)

Fair_Value_Details

Fair Value (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Level 1 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mutual fund investments	$2	$19.80
Level 2 [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Forward exchange contracts, asset	0.2	0.2
Level 2 [Member] | Carrying Value [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Long term debt	441.6	'
Level 2 [Member] | Fair Value [Member]	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Long term debt	$452.30	'

Debt_Details

Debt (Details) (Subsequent Event [Member], USD $)	0 Months Ended
In Millions, unless otherwise specified	Oct. 24, 2014	Oct. 24, 2014
Debt Instrument [Line Items]	'	'
Credit facility, amount	$450	$450
Revolver [Member]	'	'
Debt Instrument [Line Items]	'	'
Credit facility, amount	'	350
Maturity date	24-Oct-19	'
Revolver [Member] | LIBOR [Member]	'	'
Debt Instrument [Line Items]	'	'
Interest rate, description	'LIBOR Plus 1.375%	'
Interest rate (in hundredths)	1.38%	'
Term Loan [Member]	'	'
Debt Instrument [Line Items]	'	'
Term loan, face amount	'	$100
Term loan, maturity date	24-Oct-19	'
Term Loan [Member] | LIBOR [Member]	'	'
Debt Instrument [Line Items]	'	'
Interest rate, description	'LIBOR Plus 1.375%	'
Interest rate (in hundredths)	1.38%	'

Segment_Information_Details

Segment Information (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Segment Reporting Information [Line Items]	'	'	'	'
Revenue from external customers	$364,504	$370,457	$1,105,002	$1,112,006
Operating income (loss)	36,094	49,127	94,424	134,884
Interest expense	4,016	4,048	11,866	12,317
Earnings before income taxes	32,078	45,079	82,558	122,567
Flavors & Fragrances [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenue from external customers	206,474	216,076	618,555	641,387
Color [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenue from external customers	121,856	118,209	376,050	361,966
Corporate and Other [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Revenue from external customers	36,174	36,172	110,397	108,653
Operating Segments [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Total Revenue	379,545	385,251	1,148,014	1,155,060
Operating Segments [Member] | Flavors & Fragrances [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Total Revenue	215,502	225,002	645,073	667,469
Operating income (loss)	30,169	31,205	93,662	91,595
Interest expense	0	0	0	0
Earnings before income taxes	30,169	31,205	93,662	91,595
Operating Segments [Member] | Color [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Total Revenue	127,842	124,057	392,406	378,870
Operating income (loss)	29,100	27,902	89,960	83,758
Interest expense	0	0	0	0
Earnings before income taxes	29,100	27,902	89,960	83,758
Operating Segments [Member] | Corporate and Other [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Total Revenue	36,201	36,192	110,535	108,721
Operating income (loss)	-23,175	-9,980	-89,198	-40,469
Interest expense	4,016	4,048	11,866	12,317
Earnings before income taxes	-27,191	-14,028	-101,064	-52,786
Intersegment Revenue [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Total Revenue	15,041	14,794	43,012	43,054
Intersegment Revenue [Member] | Flavors & Fragrances [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Total Revenue	9,028	8,926	26,518	26,082
Intersegment Revenue [Member] | Color [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Total Revenue	5,986	5,848	16,356	16,904
Intersegment Revenue [Member] | Corporate and Other [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Total Revenue	$27	$20	$138	$68

Inventories_Details

Inventories (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Inventories [Abstract]	'	'
Inventories, including finished and in-process products	$333.40	$317.10
Raw materials and supplies	$141.60	$157.40

Retirement_Plans_Details

Retirement Plans (Details) (Pension Plans, Defined Benefit [Member], USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Pension Plans, Defined Benefit [Member]	'	'	'	'
Defined Benefit Plan Disclosure [Line Items]	'	'	'	'
Service cost	$610	$752	$1,877	$2,265
Interest cost	502	599	1,704	1,803
Expected return on plan assets	-478	-362	-1,432	-1,089
Amortization of prior service cost	43	43	129	129
Amortization of actuarial (gain) loss	-14	798	-331	2,397
Settlement expense	289	0	289	0
Curtailment gain	0	0	-115	0
Total defined benefit expense	$952	$1,830	$2,121	$5,505

Shareholders_Equity_Details

Shareholders' Equity (Details) (USD $)	3 Months Ended	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2014
Shareholders' Equity [Abstract]	'	'
Common stock repurchased during the period (in shares)	0	2
Common stock repurchased during the period, value	'	$108.80

Derivative_Instruments_and_Hed1

Derivative Instruments and Hedging Activity (Details) (USD $)	3 Months Ended	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014	Dec. 31, 2013
			Foreign Exchange Forward [Member]	Foreign Exchange Forward [Member]	Foreign Currency Denominated Debt, Net Investment Hedging [Member]	Foreign Currency Denominated Debt, Net Investment Hedging [Member]
			Cash Flow Hedging [Member]	Cash Flow Hedging [Member]
Derivative instruments and hedging activity for the period [Abstract]	'	'	'	'	'	'
Derivative, fair value	'	'	$24.70	$29.60	'	'
Carrying value of foreign denominated debt	'	'	'	'	101.5	96.5
Impact of foreign exchange rates on debt instruments recorded in Other Comprehensive Income	($8.30)	($8.50)	'	'	'	'

Income_Taxes_Details

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Taxes [Abstract]	'	'	'	'
Effective income tax rates (in hundredths)	29.30%	29.50%	32.80%	29.80%

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]	'		'
Accumulated Other Comprehensive Income, beginning balance	$11,226		$6,002
Other comprehensive income (loss) before reclassifications	-56,813		-51,157
Amounts reclassified from OCI	-1		-433
Accumulated Other Comprehensive Income, ending balance	-45,588		-45,588
Cash Flow Hedges [Member]	'		'
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]	'		'
Accumulated Other Comprehensive Income, beginning balance	341	[1]	-99	[1]
Other comprehensive income (loss) before reclassifications	207	[1]	957	[1]
Amounts reclassified from OCI	-28	[1]	-338	[1]
Accumulated Other Comprehensive Income, ending balance	520	[1]	520	[1]
Pension Items [Member]	'		'
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]	'		'
Accumulated Other Comprehensive Income, beginning balance	-6,890	[1]	-6,768	[1]
Amounts reclassified from OCI	27	[1]	-95	[1]
Accumulated Other Comprehensive Income, ending balance	-6,863	[1]	-6,863	[1]
Foreign Currency Items [Member]	'		'
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]	'		'
Accumulated Other Comprehensive Income, beginning balance	17,775		12,869
Other comprehensive income (loss) before reclassifications	-57,020		-52,114
Accumulated Other Comprehensive Income, ending balance	($39,245)		($39,245)
[1]	Cash Flow Hedges and Pension Items are net of tax.

Accumulated_Other_Comprehensiv3

Accumulated Other Comprehensive Income, Reclassification out of Accumulated Other Comprehensive Income (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Pension items reclassified out of other comprehensive income [Abstract]	'	'	'	'
Selling and administrative expense	$85,407	$70,685	$280,981	$224,231
Reclassification out of Accumulated Other Comprehensive Income [Member]	'	'	'	'
Pension items reclassified out of other comprehensive income [Abstract]	'	'	'	'
Total before income taxes	29	841	-202	2,526
Income tax expense (benefit)	-2	-315	107	-945
Total net of tax	27	526	-95	1,581
Prior Service Cost [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]	'	'	'	'
Pension items reclassified out of other comprehensive income [Abstract]	'	'	'	'
Selling and administrative expense	43	43	129	129
Actuarial (Gain) Loss [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]	'	'	'	'
Pension items reclassified out of other comprehensive income [Abstract]	'	'	'	'
Selling and administrative expense	($14)	$798	($331)	$2,397

Restructuring_Details

Restructuring (Details) (USD $)	3 Months Ended				9 Months Ended
	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013
					Employee
Restructuring Cost and Reserve [Line Items]	'		'		'		'
Expected annual savings from restructuring	'		'		$30,000,000		'
Headcount reduction due to restructuring	'		'		300		'
Carrying amount reduction due to asset impairment	34,900,000		'		34,900,000		'
Restructuring charge, after tax	23,100,000		4,400,000		88,800,000		18,500,000
Restructuring cost by segment [Abstract]	'		'		'		'
Total Continuing Operations	21,032,000		6,586,000		78,787,000		26,001,000
Discontinued Operations	2,071,000		0		10,017,000		0
Total Restructuring	23,103,000		6,586,000		88,804,000		26,001,000
Detail of the restructuring costs [Abstract]	'		'		'		'
Employee separation	1,033,000		5,002,000		14,611,000		16,342,000
Long-lived asset impairment	18,210,000		220,000		66,082,000		3,626,000
Intangibles impairment	0		'		1,049,000		'
Write-down of inventory	2,671,000		545,000		2,671,000		1,417,000
Gain on asset sales	0		-3,019,000		-602,000		-3,019,000
Other costs	1,189,000	[1]	3,838,000	[2]	4,993,000	[1]	7,635,000	[2]
Total Restructuring	23,103,000		6,586,000		88,804,000		26,001,000
Summary of accrual for restructuring and other charges [Abstract]	'		'		'		'
Balance as of December 31, 2013	'		'		6,150,000		'
Restructuring and other costs	23,103,000		6,586,000		88,804,000		26,001,000
Gain on sale of assets	0		3,019,000		602,000		3,019,000
Cash spent	'		'		-9,425,000		'
Reduction of assets	'		'		-69,802,000		'
Translation adjustment	'		'		-1,034,000		'
Balance as of September 30, 2014	15,295,000		'		15,295,000		'
Minimum [Member]	'		'		'		'
Restructuring Cost and Reserve [Line Items]	'		'		'		'
Reduction in manufacturing labor and pre-tax charges	'		'		120,000,000		'
Detail of the restructuring costs [Abstract]	'		'		'		'
Future restructuring costs, current year	'		'		12,000,000		'
Future restructuring costs, 2016	20,000,000		'		20,000,000		'
Maximum [Member]	'		'		'		'
Restructuring Cost and Reserve [Line Items]	'		'		'		'
Reduction in manufacturing labor and pre-tax charges	'		'		130,000,000		'
Number of employees terminated due to restructuring	'		'		50		'
Detail of the restructuring costs [Abstract]	'		'		'		'
Future restructuring costs, current year	'		'		17,000,000		'
Future restructuring costs, 2016	25,000,000		'		25,000,000		'
Employee Separations [Member]	'		'		'		'
Restructuring cost by segment [Abstract]	'		'		'		'
Total Restructuring	'		'		14,611,000		'
Detail of the restructuring costs [Abstract]	'		'		'		'
Gain on asset sales	'		'		0		'
Total Restructuring	'		'		14,611,000		'
Summary of accrual for restructuring and other charges [Abstract]	'		'		'		'
Balance as of December 31, 2013	'		'		4,562,000		'
Restructuring and other costs	'		'		14,611,000		'
Gain on sale of assets	'		'		0		'
Cash spent	'		'		-4,812,000		'
Reduction of assets	'		'		0		'
Translation adjustment	'		'		-1,034,000		'
Balance as of September 30, 2014	13,327,000		'		13,327,000		'
Asset Related and Other [Member]	'		'		'		'
Restructuring cost by segment [Abstract]	'		'		'		'
Total Restructuring	'		'		74,193,000		'
Detail of the restructuring costs [Abstract]	'		'		'		'
Gain on asset sales	'		'		-602,000		'
Total Restructuring	'		'		74,193,000		'
Summary of accrual for restructuring and other charges [Abstract]	'		'		'		'
Balance as of December 31, 2013	'		'		1,588,000		'
Restructuring and other costs	'		'		74,193,000		'
Gain on sale of assets	'		'		602,000		'
Cash spent	'		'		-4,613,000		'
Reduction of assets	'		'		-69,802,000		'
Translation adjustment	'		'		0		'
Balance as of September 30, 2014	1,968,000		'		1,968,000		'
Selling & Administrative [Member]	'		'		'		'
Restructuring cost by segment [Abstract]	'		'		'		'
Total Restructuring	'		6,041,000		'		24,584,000
Detail of the restructuring costs [Abstract]	'		'		'		'
Employee separation	'		5,002,000		'		16,342,000
Long-lived asset impairment	'		220,000		'		3,626,000
Write-down of inventory	'		0		'		0
Gain on asset sales	'		-3,019,000		'		-3,019,000
Other costs	'		3,838,000	[2]	'		7,635,000	[2]
Total Restructuring	'		6,041,000		'		24,584,000
Summary of accrual for restructuring and other charges [Abstract]	'		'		'		'
Restructuring and other costs	'		6,041,000		'		24,584,000
Gain on sale of assets	'		3,019,000		'		3,019,000
Cost of Products Sold [Member]	'		'		'		'
Restructuring cost by segment [Abstract]	'		'		'		'
Total Restructuring	'		545,000		'		1,417,000
Detail of the restructuring costs [Abstract]	'		'		'		'
Employee separation	'		0		'		0
Long-lived asset impairment	'		0		'		0
Write-down of inventory	'		545,000		'		1,417,000
Gain on asset sales	'		0		'		0
Other costs	'		0	[2]	'		0	[2]
Total Restructuring	'		545,000		'		1,417,000
Summary of accrual for restructuring and other charges [Abstract]	'		'		'		'
Restructuring and other costs	'		545,000		'		1,417,000
Gain on sale of assets	'		0		'		0
Flavors & Fragrances [Member]	'		'		'		'
Restructuring cost by segment [Abstract]	'		'		'		'
Total Continuing Operations	20,064,000		4,167,000		74,115,000		18,657,000
Color [Member]	'		'		'		'
Restructuring cost by segment [Abstract]	'		'		'		'
Total Continuing Operations	0		1,497,000		0		5,807,000
Corporate & Other [Member]	'		'		'		'
Restructuring cost by segment [Abstract]	'		'		'		'
Total Continuing Operations	968,000		922,000		4,672,000		1,537,000
2014 Proxy Contest [Member]	'		'		'		'
Detail of the restructuring costs [Abstract]	'		'		'		'
Other costs	'		'		$3,200,000		'
[1]	Other costs include decommissioning costs, professional services, personnel moving costs, other related costs and 2014 proxy contest costs.
[2]	Other costs include decommissioning, professional services, personnel (other than employee separations) and moving related costs.

Discontinued_Operations_Detail

Discontinued Operations (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Certain Consolidated Condensed Statements of Earnings information for discontinued operations [Abstract]	'	'	'	'
Revenue	$910	$1,536	$3,209	$4,433
Loss before income taxes	-2,351	-338	-10,893	-1,079
Income taxes	-992	-99	-3,742	-316
Loss from discontinued operations, net of tax	-1,359	-239	-7,151	-763
Pre-tax restructuring costs from discontinued operations	$2,071	$0	$10,017	$0