Sensient Technologies (SXT) 10-Q 5 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Jul. 31, 2019
Cover [Abstract]
Entity Registrant Name	SENSIENT TECHNOLOGIES CORP
Entity Central Index Key	0000310142
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		42,319,163
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-07626
Entity Tax Identification Number	39-0561070
Entity Incorporation, State or Country Code	WI
Entity Address, Address Line One	777 EAST WISCONSIN AVENUE
Entity Address, City or Town	MILWAUKEE
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53202-5304
City Area Code	414
Local Phone Number	271-6755
Title of 12(b) Security	Common Stock, par value $0.10 per share
Trading Symbol	SXT
Security Exchange Name	NYSE

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS (Unaudited) [Abstract]
Revenue	$ 339,186	$ 363,041	$ 686,699	$ 719,518
Cost of products sold	227,418	241,571	459,706	474,977
Selling and administrative expenses	64,400	69,289	130,205	136,679
Operating income	47,368	52,181	96,788	107,862
Interest expense	5,200	5,555	10,602	11,110
Earnings before income taxes	42,168	46,626	86,186	96,752
Income taxes	7,837	7,503	19,048	19,435
Net earnings	$ 34,331	$ 39,123	$ 67,138	$ 77,317
Weighted average number of shares outstanding:
Basic (in shares)	42,270	42,281	42,255	42,578
Diluted (in shares)	42,300	42,371	42,287	42,701
Earnings per common share:
Basic (in dollars per share)	$ 0.81	$ 0.93	$ 1.59	$ 1.82
Diluted (in dollars per share)	0.81	0.92	1.59	1.81
Dividends declared per common share (in dollars per share)	$ 0.36	$ 0.33	$ 0.72	$ 0.66

CONSOLIDATED CONDENSED STATEM_2

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) [Abstract]
Comprehensive Income	$ 37,059	$ 2,477	$ 69,150	$ 64,535

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
CURRENT ASSETS:
Cash and cash equivalents	$ 29,882	$ 31,901
Trade accounts receivable, net	273,109	255,350
Inventories	462,108	490,757
Prepaid expenses and other current assets	46,988	44,857
TOTAL CURRENT ASSETS	812,087	822,865
OTHER ASSETS	88,263	66,788
DEFERRED TAX ASSETS	11,103	9,189
INTANGIBLE ASSETS, NET	17,715	18,867
GOODWILL	415,164	416,175
PROPERTY, PLANT, AND EQUIPMENT:
Land	37,367	36,787
Buildings	322,587	318,463
Machinery and equipment	705,468	688,003
Construction in progress	27,789	34,772
Property, plant, and equipment, gross	1,093,211	1,078,025
Less accumulated depreciation	(612,048)	(586,969)
Property, plant, and equipment, net	481,163	491,056
TOTAL ASSETS	1,825,495	1,824,940
CURRENT LIABILITIES:
Trade accounts payable	108,095	131,812
Accrued salaries, wages, and withholdings from employees	20,832	23,410
Other accrued expenses	40,297	31,198
Income taxes	5,108	8,234
Short-term borrowings	20,337	20,046
TOTAL CURRENT LIABILITIES	194,669	214,700
DEFERRED TAX LIABILITIES	29,984	28,976
OTHER LIABILITIES	22,310	8,554
ACCRUED EMPLOYEE AND RETIREE BENEFITS	24,313	23,210
LONG-TERM DEBT	656,737	689,553
SHAREHOLDERS' EQUITY:
Common stock	5,396	5,396
Additional paid-in capital	98,037	101,663
Earnings reinvested in the business	1,552,928	1,516,243
Treasury stock, at cost	(595,336)	(597,800)
Accumulated other comprehensive loss	(163,543)	(165,555)
TOTAL SHAREHOLDERS' EQUITY	897,482	859,947
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 1,825,495	$ 1,824,940

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net earnings	$ 67,138	$ 77,317
Adjustments to arrive at net cash provided by (used in) operating activities:
Depreciation and amortization	27,741	26,022
Share-based compensation	(1,155)	1,783
Net (gain) loss on assets	(75)	259
Deferred income taxes	(909)	9,933
Changes in operating assets and liabilities:
Accounts receivable	(17,131)	(117,520)
Inventories	29,201	(2,306)
Prepaid expenses and other assets	(3,395)	(12,178)
Accounts payable and accrued expenses	(21,401)	(7,759)
Salaries, wages and withholdings from employees	(2,598)	(591)
Income taxes	(2,631)	(6,043)
Other deferred liabilities	1,428	2,889
Net cash provided by (used in) operating activities	76,213	(28,194)
Cash flows from investing activities:
Acquisition of property, plant, and equipment	(16,606)	(24,000)
Cash receipts on sold receivables	0	91,142
Proceeds from sale of assets	91	283
Acquisition of new businesses	0	(11,313)
Other investing activity	(454)	751
Net cash (used in) provided by investing activities	(16,969)	56,863
Cash flows from financing activities:
Proceeds from additional borrowings	25,003	107,857
Debt payments	(55,182)	(33,009)
Purchase of treasury stock	0	(72,704)
Dividends paid	(30,453)	(28,244)
Other financing activity	(1,028)	(2,779)
Net cash used in financing activities	(61,660)	(28,879)
Effect of exchange rate changes on cash and cash equivalents	397	1,754
Net (decrease) increase in cash and cash equivalents	(2,019)	1,544
Cash and cash equivalents at beginning of period	31,901	29,344
Cash and cash equivalents at end of period	$ 29,882	$ 30,888

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-In Capital [Member]	Earnings Reinvested in the Business [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Beginning balance at Dec. 31, 2017	$ 5,396	$ 107,176	$ 1,414,485	$ (525,422)	$ (149,334)	$ 852,301
Beginning balance (in shares) at Dec. 31, 2017				10,759,291
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	0	0	77,317	$ 0	0	77,317
Other comprehensive income (loss)	0	0	0	0	(12,782)	(12,782)
Cash dividends paid	0	0	(28,244)	0	0	(28,244)
Share-based compensation	0	1,783	0	0	0	1,783
Stock options exercised	0	(80)	0	$ 200	0	120
Stock options exercised (in shares)				(4,000)
Non-vested stock issued upon vesting	0	(5,454)	0	$ 5,454	0	0
Non-vested stock issued upon vesting (in shares)				(111,185)
Benefit plans	0	350	0	$ 769	0	1,119
Benefit plans (in shares)				(15,126)
Purchase of treasury stock	0	0	0	$ (72,704)	0	(72,704)
Purchase of treasury stock (in shares)				1,000,000
Other	0	(832)	418	$ (2,067)	0	(2,481)
Other (in shares)				42,243
Ending balance at Jun. 30, 2018	5,396	102,943	1,463,976	$ (593,770)	(162,116)	816,429
Ending balance (in shares) at Jun. 30, 2018				11,671,223
Beginning balance at Mar. 31, 2018	5,396	103,099	1,438,823	$ (594,392)	(125,470)	827,456
Beginning balance (in shares) at Mar. 31, 2018				11,683,443
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	0	0	39,123	$ 0	0	39,123
Other comprehensive income (loss)	0	0	0	0	(36,646)	(36,646)
Cash dividends paid	0	0	(13,970)	0	0	(13,970)
Share-based compensation	0	529	0	0	0	529
Stock options exercised	0	(42)	0	$ 102	0	60
Stock options exercised (in shares)				(2,000)
Non-vested stock issued upon vesting	0	(612)	0	$ 612	0	0
Non-vested stock issued upon vesting (in shares)				(12,033)
Other	0	(31)	0	$ (92)	0	(123)
Other (in shares)				1,813
Ending balance at Jun. 30, 2018	5,396	102,943	1,463,976	$ (593,770)	(162,116)	816,429
Ending balance (in shares) at Jun. 30, 2018				11,671,223
Beginning balance at Dec. 31, 2018	5,396	101,663	1,516,243	$ (597,800)	(165,555)	859,947
Beginning balance (in shares) at Dec. 31, 2018				11,731,223
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	0	0	67,138	$ 0	0	67,138
Other comprehensive income (loss)	0	0	0	0	2,012	2,012
Cash dividends paid	0	0	(30,453)	0	0	(30,453)
Share-based compensation	0	(1,155)	0	0	0	(1,155)
Non-vested stock issued upon vesting	0	(2,331)	0	$ 2,331	0	0
Non-vested stock issued upon vesting (in shares)				(45,741)
Benefit plans	0	72	0	$ 948	0	1,020
Benefit plans (in shares)				(18,597)
Other	0	(212)	0	$ (815)	0	(1,027)
Other (in shares)				15,991
Ending balance at Jun. 30, 2019	5,396	98,037	1,552,928	$ (595,336)	(163,543)	897,482
Ending balance (in shares) at Jun. 30, 2019				11,682,876
Beginning balance at Mar. 31, 2019	5,396	100,485	1,533,832	$ (595,718)	(166,271)	877,724
Beginning balance (in shares) at Mar. 31, 2019				11,690,379
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	0	0	34,331	$ 0	0	34,331
Other comprehensive income (loss)	0	0	0	0	2,728	2,728
Cash dividends paid	0	0	(15,235)	0	0	(15,235)
Share-based compensation	0	(1,842)	0	0	0	(1,842)
Non-vested stock issued upon vesting	0	(547)	0	$ 547	0	0
Non-vested stock issued upon vesting (in shares)				(10,725)
Other	0	(59)	0	$ (165)	0	(224)
Other (in shares)				3,222
Ending balance at Jun. 30, 2019	$ 5,396	$ 98,037	$ 1,552,928	$ (595,336)	$ (163,543)	$ 897,482
Ending balance (in shares) at Jun. 30, 2019				11,682,876

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) [Abstract]
Cash dividends per share (in dollars per share)	$ 0.36	$ 0.33	$ 0.72	$ 0.66

Accounting Policies

Accounting Policies	6 Months Ended
	Jun. 30, 2019
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) that are necessary to present fairly the financial position of the Company as of June 30, 2019, and the results of operations, comprehensive income, and shareholders’ equity for the three and six months ended June 30, 2019 and 2018, and cash flows for the six months ended June 30, 2019 and 2018. 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. Please refer to the notes in the Company’s annual consolidated financial statements for the year ended December 31, 2018, for additional details of the Company’s financial condition and a description of the Company’s accounting policies, which have been continued without change, except for the Company’s Lease and Derivative Financial Instruments accounting policies. These policies were updated as a result of the Company’s adoption of Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842) Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities, Leases The Company enters into lease agreements for certain office space, warehouses, land, and equipment in the ordinary course of business. The Company determines if an arrangement is a lease at inception and evaluates the lease classification (i.e., operating lease or financing lease) at that time. Lease arrangements with an initial term of 12 months or less are considered short-term leases and are not recorded on the balance sheet. The Company recognizes lease expense for these leases on a straight-line basis over the term of the lease. Operating leases are included in Other Assets Other Accrued Expenses Other Liabilities The Company uses its incremental borrowing rate on the commencement date for determining the present value of lease payments. The Company considers the likelihood of exercising options to extend or terminate the lease when determining the lease term. The Company has lease agreements with lease and non-lease components. The Company has elected the practical expedient to account for the lease and non-lease components as a single lease component for all leases. Derivative Financial Instruments The Company selectively uses derivative financial instruments to reduce market risk associated with changes in foreign currency and interest rate exposures that exist as part of ongoing business operations. All derivative transactions are authorized and executed pursuant to the Company’s risk management policies and procedures, which strictly prohibit the use of financial instruments for speculative trading purposes. The primary objectives of the foreign exchange risk management activities are to understand and mitigate the impact of potential foreign exchange fluctuations on the Company’s financial results and its economic well-being. Changes in the fair value of derivatives that are designated as fair value hedges, along with the gain or loss on the hedged item, are recorded in current period earnings. Generally, these risk management transactions may involve the use of foreign currency derivatives to protect against exposure resulting from recorded accounts receivable and payable. The Company may utilize forward exchange contracts, generally with maturities of less than 18 months, that qualify as cash flow hedges. Generally, these foreign exchange contracts are intended to offset the effect of exchange rate fluctuations on non-functional currency denominated sales and purchases. For derivative instruments that are designated as cash flow hedges, gains and losses, including any hedge ineffectiveness, are deferred in accumulated other comprehensive income (OCI) until the underlying transaction is recognized in earnings. Hedge effectiveness is determined by how closely the changes in the fair value of the hedging instrument offset the changes in the fair value or cash flows of the hedged item. Hedge accounting is permitted only if the hedging relationship is expected to be highly effective at the inception of the transaction and on an ongoing basis. Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (FASB) issued ASU No. 2016-02, Leases (Topic 842) Leases (Topic 842) Targeted Improvements 1. The Company will not re-assess an expired or existing contract to determine if it is a lease or contains a lease. 2. The Company will not re-assess the lease classification for an existing lease based on the new standard’s lease classification criteria. 3. The Company will not re-assess the accounting treatment for initial direct costs on existing leases based on the new standard’s guidance. 4. The Company will account for the lease and non-lease components as a single lease component for all leases. The adoption of this standard resulted in the recognition of $20.7 million in right-of-use assets and lease liabilities for operating leases as of January 1, 2019. The adoption of this standard did not have an impact on the Company’s Consolidated Statements of Earnings, or to cash provided by or used in operating, financing, or investing activities on the Company’s Consolidated Statements of Cash Flows. In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment In August 2018, the FASB issued ASU No. 2018-13 , Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement Please refer to the notes in the Company’s annual consolidated financial statements for the year ended December 31, 2018, for additional details of the Company’s financial condition and a description of the Company’s accounting policies, which have been continued without change, except as discussed above.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2019
Acquisitions [Abstract]
Acquisitions	2. Acquisitions On March 9, 2018, the Company completed the acquisition of certain net assets and the natural color business of GlobeNatural, On July 10, 2018, the Company completed the acquisition of Mazza Innovation Limited

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2019
Fair Value [Abstract]
Fair Value	3. Fair Value Accounting Standards Codification (ASC) 820, Fair Value Measurement

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2019
Segment Information [Abstract]
Segment Information	4. Segment Information Operating results by segment for the periods presented are as follows: (In thousands) Flavors & Fragrances Color Asia Pacific Corporate & Other Consolidated Three months ended June 30, 2019: Revenue from external customers $ 174,534 $ 135,650 $ 29,002 $ - $ 339,186 Intersegment revenue 5,600 3,262 - - 8,862 Total revenue $ 180,134 $ 138,912 $ 29,002 $ - $ 348,048 Operating income (loss) $ 20,050 $ 27,877 $ 4,201 $ (4,760 ) $ 47,368 Interest expense - - - 5,200 5,200 Earnings (loss) before income taxes $ 20,050 $ 27,877 $ 4,201 $ (9,960 ) $ 42,168 Three months ended June 30, 2018: Revenue from external customers $ 191,818 $ 140,702 $ 30,521 $ - $ 363,041 Intersegment revenue 6,840 3,589 - - 10,429 Total revenue $ 198,658 $ 144,291 $ 30,521 $ - $ 373,470 Operating income (loss) $ 24,001 $ 31,133 $ 4,634 $ (7,587 ) $ 52,181 Interest expense - - - 5,555 5,555 Earnings (loss) before income taxes $ 24,001 $ 31,133 $ 4,634 $ (13,142 ) $ 46,626 (In thousands) Flavors & Fragrances Color Asia Pacific Corporate & Other Consolidated Six months ended June 30, 2019: Revenue from external customers $ 353,278 $ 275,900 $ 57,521 $ - $ 686,699 Intersegment revenue 10,409 6,891 - - 17,300 Total revenue $ 363,687 $ 282,791 $ 57,521 $ - $ 703,999 Operating income (loss) $ 43,175 $ 58,076 $ 8,419 $ (12,882 ) $ 96,788 Interest expense - - - 10,602 10,602 Earnings (loss) before income taxes $ 43,175 $ 58,076 $ 8,419 $ (23,484 ) $ 86,186 Six months ended June 30, 2018: Revenue from external customers $ 374,300 $ 284,430 $ 60,788 $ - $ 719,518 Intersegment revenue 12,704 7,021 - - 19,725 Total revenue $ 387,004 $ 291,451 $ 60,788 $ - $ 739,243 Operating income (loss) $ 49,328 $ 64,805 $ 9,506 $ (15,777 ) $ 107,862 Interest expense - - - 11,110 11,110 Earnings (loss) before income taxes $ 49,328 $ 64,805 $ 9,506 $ (26,887 ) $ 96,752 The Company evaluates performance based on operating income of the respective segments before restructuring and other costs, interest expense, and income taxes. There were no restructuring and other costs incurred in either the first six months of 2019 or 2018. In July 2018, the Company completed the acquisition of Mazza Innovation Limited Acquisitions In addition to evaluating the Company’s performance based on the segments above, revenue is also disaggregated and analyzed by product line and geographic market. The following tables display the Company’s revenue by these major sources. Product Lines (In thousands) Flavors & Fragrances Color Asia Pacific Consolidated Three months ended June 30, 2019: Flavors $ 101,495 $ - $ - $ 101,495 Natural Ingredients 52,425 - - 52,425 Fragrances 26,214 - - 26,214 Food & Beverage Colors - 79,374 - 79,374 Cosmetics - 35,855 - 35,855 Other Colors - 23,683 - 23,683 Asia Pacific - - 29,002 29,002 Intersegment Revenue (5,600 ) (3,262 ) - (8,862 ) Total revenue from external customers $ 174,534 $ 135,650 $ 29,002 $ 339,186 Three months ended June 30, 2018: Flavors $ 115,222 $ - $ - $ 115,222 Natural Ingredients 56,197 - - 56,197 Fragrances 27,239 - - 27,239 Food & Beverage Colors - 77,467 - 77,467 Cosmetics - 40,727 - 40,727 Other Colors - 26,097 - 26,097 Asia Pacific - - 30,521 30,521 Intersegment Revenue (6,840 ) (3,589 ) - (10,429 ) Total revenue from external customers $ 191,818 $ 140,702 $ 30,521 $ 363,041 Product Lines (In thousands) Flavors & Fragrances Color Asia Pacific Consolidated Six months ended June 30, 2019: Flavors $ 205,771 $ - $ - $ 205,771 Natural Ingredients 103,644 - - 103,644 Fragrances 54,272 - - 54,272 Food & Beverage Colors - 159,738 - 159,738 Cosmetics - 74,138 - 74,138 Other Colors - 48,915 - 48,915 Asia Pacific - - 57,521 57,521 Intersegment Revenue (10,409 ) (6,891 ) - (17,300 ) Total revenue from external customers $ 353,278 $ 275,900 $ 57,521 $ 686,699 Six months ended June 30, 2018: Flavors $ 224,273 $ - $ - $ 224,273 Natural Ingredients 109,398 - - 109,398 Fragrances 53,333 - - 53,333 Food & Beverage Colors - 154,283 - 154,283 Cosmetics - 86,231 - 86,231 Other Colors - 50,937 - 50,937 Asia Pacific - - 60,788 60,788 Intersegment Revenue (12,704 ) (7,021 ) - (19,725 ) Total revenue from external customers $ 374,300 $ 284,430 $ 60,788 $ 719,518 Geographic Markets (In thousands) Flavors & Fragrances Color Asia Pacific Consolidated Three months ended June 30, 2019: North America $ 113,115 $ 65,301 $ 37 $ 178,453 Europe 41,323 38,682 107 80,112 Asia Pacific 9,430 15,112 28,722 53,264 Other 10,666 16,555 136 27,357 Total revenue from external customers $ 174,534 $ 135,650 $ 29,002 $ 339,186 Three months ended June 30, 2018: North America $ 127,196 $ 63,738 $ - $ 190,934 Europe 44,964 41,127 24 86,115 Asia Pacific 9,069 17,641 30,284 56,994 Other 10,589 18,196 213 28,998 Total revenue from external customers $ 191,818 $ 140,702 $ 30,521 $ 363,041 Geographic Markets (In thousands) Flavors & Fragrances Color Asia Pacific Consolidated Six months ended June 30, 2019: North America $ 225,862 $ 131,308 $ 62 $ 357,232 Europe 89,324 80,817 148 170,289 Asia Pacific 17,039 31,537 56,988 105,564 Other 21,053 32,238 323 53,614 Total revenue from external customers $ 353,278 $ 275,900 $ 57,521 $ 686,699 Six months ended June 30, 2018: North America $ 246,251 $ 127,320 $ - $ 373,571 Europe 90,391 84,758 30 175,179 Asia Pacific 16,091 34,551 60,295 110,937 Other 21,567 37,801 463 59,831 Total revenue from external customers $ 374,300 $ 284,430 $ 60,788 $ 719,518

Inventories

Inventories	6 Months Ended
	Jun. 30, 2019
Inventories [Abstract]
Inventories	5. Inventories At June 30, 2019, and December 31, 2018, inventories included finished and in-process products totaling $312.6 million and $320.4 million, respectively, and raw materials and supplies of $149.5 million and $170.4 million, respectively.

Retirement Plans

Retirement Plans	6 Months Ended
	Jun. 30, 2019
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 June 30, Six Months Ended June 30, (In thousands) 2019 2018 2019 2018 Service cost $ 359 $ 366 $ 718 $ 734 Interest cost 319 286 639 575 Expected return on plan assets (229 ) (241 ) (460 ) (486 ) Recognized actuarial gain (39 ) (27 ) (78 ) (54 ) Total defined benefit expense $ 410 $ 384 $ 819 $ 769 The Company’s non-service cost portion of defined benefit expense is recorded in Interest Expense Selling and Administrative Expenses

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	7. Leases The Company leases certain office space, warehouses, land, and equipment under operating lease arrangements. Some of the Company’s leases include options to extend the leases for up to an additional five years. Some of the Company’s lease agreements also include rental payments that are adjusted periodically for inflation (i.e., CPI index). The Company recorded operating lease expense, which includes short-term lease expense and variable lease costs, of $2.8 million and $5.8 million for the three and six months ended June 30, 2019, respectively. For the six months ended June 30, 2019, the Company paid $5.0 million in cash for operating leases, not including short-term lease expense or variable lease costs. The Company entered into operating leases that resulted in $5.0 million of right-of-use assets in exchange for operating lease obligations for the six months ended June 30, 2019. The Company included $21.2 million of right-of-use assets in Other Assets Other Accrued Expenses Other Liabilities The Company’s weighted average remaining operating lease term was 3.7 years as of June 30, 2019. The Company’s weighted average discount rate for operating leases was 4.4% as of June 30, 2019. As of June 30, 2019, maturities of operating lease liabilities for future annual periods are as follows: (in thousands) Year ending December 31, 2019 $ 4,655 2020 7,789 2021 4,303 2022 2,224 2023 1,422 Thereafter 2,699 Total lease payments 23,092 Less imputed interest (1,911 ) Present value of lease liabilities $ 21,181

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activity	6 Months Ended
	Jun. 30, 2019
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 in order to reduce 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 generally have maturities of less than 18 months. The Company’s primary hedging activities and their accounting treatment are summarized below. Forward exchange contracts Net investment hedges

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2019
Income Taxes [Abstract]
Income Taxes	9. Income Taxes The effective income tax rates for the three months ended June 30, 2019 and 2018, were and , respectively. For the six months ended June 30, 2019 and 2018, the effective income tax rates were and , respectively. The effective tax rates in both 2019 and 2018 were impacted by changes in estimates associated with the finalization of prior year foreign and domestic tax items, audit settlements, and the mix of foreign earnings. In addition, the 2019 effective tax rate was impacted by an adjustment to a valuation allowance, and the 2018 effective tax rate was impacted by the U.S. tax accounting method changes that were filed with the IRS.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2019
Accumulated Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income	10. Accumulated Other Comprehensive Income The following table summarizes the changes in OCI during the three and six month periods ended June 30, 2019 and 2018: (In thousands) Cash Flow Hedges (a) Pension Items (a) Foreign Currency Items Total Balances at December 31, 2018 $ 147 $ 549 $ (166,251 ) $ (165,555 ) Other comprehensive income before reclassifications 66 - 2,291 2,357 Amounts reclassified from OCI (271 ) (74 ) - (345 ) Balances at June 30, 2019 $ (58 ) $ 475 $ (163,960 ) $ (163,543 ) (In thousands) Cash Flow Hedges (a) Pension Items (a) Foreign Currency Items Total Balances at March 31, 2019 $ 632 $ 512 $ (167,415 ) $ (166,271 ) Other comprehensive income (loss) before reclassifications (531 ) - 3,455 2,924 Amounts reclassified from OCI (159 ) (37 ) - (196 ) Balances at June 30, 2019 $ (58 ) $ 475 $ (163,960 ) $ (163,543 ) (In thousands) Cash Flow Hedges (a) Pension Items (a) Foreign Currency Items Total Balances at December 31, 2017 $ (669 ) $ (309 ) $ (148,356 ) $ (149,334 ) Other comprehensive income (loss) before reclassifications 525 - (13,357 ) (12,832 ) Amounts reclassified from OCI 110 (60 ) - 50 Balances at June 30, 2018 $ (34 ) $ (369 ) $ (161,713 ) $ (162,116 ) (In thousands) Cash Flow Hedges (a) Pension Items (a) Foreign Currency Items Total Balances at March 31, 2018 $ 39 $ (339 ) $ (125,170 ) $ (125,470 ) Other comprehensive loss before reclassifications (145 ) - (36,543 ) (36,688 ) Amounts reclassified from OCI 72 (30 ) - 42 Balances at June 30, 2018 $ (34 ) $ (369 ) $ (161,713 ) $ (162,116 ) (a) Cash Flow Hedges and Pension Items are net of tax.

Accounts Receivable Securitizat

Accounts Receivable Securitization	6 Months Ended
	Jun. 30, 2019
Accounts Receivable Securitization [Abstract]
Accounts Receivable Securitization	11. Accounts Receivable Securitization The Company is engaged in an accounts receivable securitization program with Wells Fargo Bank N.A. (Wells Fargo). The commitment size under the program is $70 million. Between October 2016 and June 2018, the Company accounted for sales of trade receivables under the program as a reduction in accounts receivable on the Company’s Consolidated Condensed Balance Sheets in accordance with ASC 860, Transfers and Servicing In June 2018, the Company amended the program. Following the amendment, the Company no longer accounts for sales of trade receivables in accordance with ASC 860, and instead now maintains the trade receivables and related debt on its Consolidated Condensed Balance Sheets. Under the amended program, Wells Fargo has extended a secured loan of up to $70 million to the Company secured by Wells Fargo’s undivided interests in certain of the Company’s trade accounts receivables. The program expires in October 2019; however, the Company has the intent and ability to refinance or extend the program prior to maturity. As of June 30, 2019, $70 million was borrowed under the program.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies The Company is subject to various claims and litigation arising in the normal course of business. The Company establishes reserves for claims and proceedings when it is probable that liabilities exist and reasonable estimates of loss can be made. While it is not possible to predict the outcome of these matters, based on our assessment of the facts and circumstances now known, we do not believe that these matters, individually or in the aggregate, will have a material adverse effect on our financial position. However, actual outcomes may be different from those expected and could have a material effect on our results of operations or cash flows in a particular period. Agar v. Sensient Natural Ingredients LLC On March 29, 2019, Calvin Agar (Agar), a former employee, filed a Class Action Complaint in Stanislaus County Superior Court against Sensient Natural Ingredients LLC (SNI). On May 22, 2019, Agar filed a First Amended Class Action Complaint against SNI (the Complaint). Agar alleges that SNI improperly reported overtime pay on employees’ wage statements, in violation of the California Labor Code. The Complaint alleges two causes of action, and both concern the wage statements. The Complaint does not allege that SNI failed to pay any overtime due to Agar or any of the putative class or group members. The Complaint merely challenges the manner in which SNI has reported overtime pay on its wage statements. SNI maintains that it has accurately paid Agar and the putative class members for all overtime worked, and that they have not experienced any harm. SNI further maintains that the format of its wage statements does not violate the requirements of state law or any specific guidance from California decisional law, the California Division of Labor Standards Enforcement, or the California Labor Commissioner's Office. Finally, SNI contends that certain of the state law claims are subject to mandatory individual arbitration. SNI filed its Answer and Affirmative Defenses to the Complaint on July 10, 2019. SNI continues to evaluate the developing legal authority on this issue. SNI intends to vigorously defend its interests, absent a reasonable resolution. The parties have agreed to submit this case to mediation, which is currently scheduled for December 11, 2019.

Accounting Policies (Policies)

Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Leases	Leases The Company enters into lease agreements for certain office space, warehouses, land, and equipment in the ordinary course of business. The Company determines if an arrangement is a lease at inception and evaluates the lease classification (i.e., operating lease or financing lease) at that time. Lease arrangements with an initial term of 12 months or less are considered short-term leases and are not recorded on the balance sheet. The Company recognizes lease expense for these leases on a straight-line basis over the term of the lease. Operating leases are included in Other Assets Other Accrued Expenses Other Liabilities The Company uses its incremental borrowing rate on the commencement date for determining the present value of lease payments. The Company considers the likelihood of exercising options to extend or terminate the lease when determining the lease term. The Company has lease agreements with lease and non-lease components. The Company has elected the practical expedient to account for the lease and non-lease components as a single lease component for all leases.
Derivative Financial Instruments	Derivative Financial Instruments The Company selectively uses derivative financial instruments to reduce market risk associated with changes in foreign currency and interest rate exposures that exist as part of ongoing business operations. All derivative transactions are authorized and executed pursuant to the Company’s risk management policies and procedures, which strictly prohibit the use of financial instruments for speculative trading purposes. The primary objectives of the foreign exchange risk management activities are to understand and mitigate the impact of potential foreign exchange fluctuations on the Company’s financial results and its economic well-being. Changes in the fair value of derivatives that are designated as fair value hedges, along with the gain or loss on the hedged item, are recorded in current period earnings. Generally, these risk management transactions may involve the use of foreign currency derivatives to protect against exposure resulting from recorded accounts receivable and payable. The Company may utilize forward exchange contracts, generally with maturities of less than 18 months, that qualify as cash flow hedges. Generally, these foreign exchange contracts are intended to offset the effect of exchange rate fluctuations on non-functional currency denominated sales and purchases. For derivative instruments that are designated as cash flow hedges, gains and losses, including any hedge ineffectiveness, are deferred in accumulated other comprehensive income (OCI) until the underlying transaction is recognized in earnings. Hedge effectiveness is determined by how closely the changes in the fair value of the hedging instrument offset the changes in the fair value or cash flows of the hedged item. Hedge accounting is permitted only if the hedging relationship is expected to be highly effective at the inception of the transaction and on an ongoing basis.
Recently Adopted/Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (FASB) issued ASU No. 2016-02, Leases (Topic 842) Leases (Topic 842) Targeted Improvements 1. The Company will not re-assess an expired or existing contract to determine if it is a lease or contains a lease. 2. The Company will not re-assess the lease classification for an existing lease based on the new standard’s lease classification criteria. 3. The Company will not re-assess the accounting treatment for initial direct costs on existing leases based on the new standard’s guidance. 4. The Company will account for the lease and non-lease components as a single lease component for all leases. The adoption of this standard resulted in the recognition of $20.7 million in right-of-use assets and lease liabilities for operating leases as of January 1, 2019. The adoption of this standard did not have an impact on the Company’s Consolidated Statements of Earnings, or to cash provided by or used in operating, financing, or investing activities on the Company’s Consolidated Statements of Cash Flows. In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment In August 2018, the FASB issued ASU No. 2018-13 , Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement Please refer to the notes in the Company’s annual consolidated financial statements for the year ended December 31, 2018, for additional details of the Company’s financial condition and a description of the Company’s accounting policies, which have been continued without change, except as discussed above.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Information [Abstract]
Segment Information	Operating results by segment for the periods presented are as follows: (In thousands) Flavors & Fragrances Color Asia Pacific Corporate & Other Consolidated Three months ended June 30, 2019: Revenue from external customers $ 174,534 $ 135,650 $ 29,002 $ - $ 339,186 Intersegment revenue 5,600 3,262 - - 8,862 Total revenue $ 180,134 $ 138,912 $ 29,002 $ - $ 348,048 Operating income (loss) $ 20,050 $ 27,877 $ 4,201 $ (4,760 ) $ 47,368 Interest expense - - - 5,200 5,200 Earnings (loss) before income taxes $ 20,050 $ 27,877 $ 4,201 $ (9,960 ) $ 42,168 Three months ended June 30, 2018: Revenue from external customers $ 191,818 $ 140,702 $ 30,521 $ - $ 363,041 Intersegment revenue 6,840 3,589 - - 10,429 Total revenue $ 198,658 $ 144,291 $ 30,521 $ - $ 373,470 Operating income (loss) $ 24,001 $ 31,133 $ 4,634 $ (7,587 ) $ 52,181 Interest expense - - - 5,555 5,555 Earnings (loss) before income taxes $ 24,001 $ 31,133 $ 4,634 $ (13,142 ) $ 46,626 (In thousands) Flavors & Fragrances Color Asia Pacific Corporate & Other Consolidated Six months ended June 30, 2019: Revenue from external customers $ 353,278 $ 275,900 $ 57,521 $ - $ 686,699 Intersegment revenue 10,409 6,891 - - 17,300 Total revenue $ 363,687 $ 282,791 $ 57,521 $ - $ 703,999 Operating income (loss) $ 43,175 $ 58,076 $ 8,419 $ (12,882 ) $ 96,788 Interest expense - - - 10,602 10,602 Earnings (loss) before income taxes $ 43,175 $ 58,076 $ 8,419 $ (23,484 ) $ 86,186 Six months ended June 30, 2018: Revenue from external customers $ 374,300 $ 284,430 $ 60,788 $ - $ 719,518 Intersegment revenue 12,704 7,021 - - 19,725 Total revenue $ 387,004 $ 291,451 $ 60,788 $ - $ 739,243 Operating income (loss) $ 49,328 $ 64,805 $ 9,506 $ (15,777 ) $ 107,862 Interest expense - - - 11,110 11,110 Earnings (loss) before income taxes $ 49,328 $ 64,805 $ 9,506 $ (26,887 ) $ 96,752
Product Information	Product Lines (In thousands) Flavors & Fragrances Color Asia Pacific Consolidated Three months ended June 30, 2019: Flavors $ 101,495 $ - $ - $ 101,495 Natural Ingredients 52,425 - - 52,425 Fragrances 26,214 - - 26,214 Food & Beverage Colors - 79,374 - 79,374 Cosmetics - 35,855 - 35,855 Other Colors - 23,683 - 23,683 Asia Pacific - - 29,002 29,002 Intersegment Revenue (5,600 ) (3,262 ) - (8,862 ) Total revenue from external customers $ 174,534 $ 135,650 $ 29,002 $ 339,186 Three months ended June 30, 2018: Flavors $ 115,222 $ - $ - $ 115,222 Natural Ingredients 56,197 - - 56,197 Fragrances 27,239 - - 27,239 Food & Beverage Colors - 77,467 - 77,467 Cosmetics - 40,727 - 40,727 Other Colors - 26,097 - 26,097 Asia Pacific - - 30,521 30,521 Intersegment Revenue (6,840 ) (3,589 ) - (10,429 ) Total revenue from external customers $ 191,818 $ 140,702 $ 30,521 $ 363,041 Product Lines (In thousands) Flavors & Fragrances Color Asia Pacific Consolidated Six months ended June 30, 2019: Flavors $ 205,771 $ - $ - $ 205,771 Natural Ingredients 103,644 - - 103,644 Fragrances 54,272 - - 54,272 Food & Beverage Colors - 159,738 - 159,738 Cosmetics - 74,138 - 74,138 Other Colors - 48,915 - 48,915 Asia Pacific - - 57,521 57,521 Intersegment Revenue (10,409 ) (6,891 ) - (17,300 ) Total revenue from external customers $ 353,278 $ 275,900 $ 57,521 $ 686,699 Six months ended June 30, 2018: Flavors $ 224,273 $ - $ - $ 224,273 Natural Ingredients 109,398 - - 109,398 Fragrances 53,333 - - 53,333 Food & Beverage Colors - 154,283 - 154,283 Cosmetics - 86,231 - 86,231 Other Colors - 50,937 - 50,937 Asia Pacific - - 60,788 60,788 Intersegment Revenue (12,704 ) (7,021 ) - (19,725 ) Total revenue from external customers $ 374,300 $ 284,430 $ 60,788 $ 719,518
Geographical Information	Geographic Markets (In thousands) Flavors & Fragrances Color Asia Pacific Consolidated Three months ended June 30, 2019: North America $ 113,115 $ 65,301 $ 37 $ 178,453 Europe 41,323 38,682 107 80,112 Asia Pacific 9,430 15,112 28,722 53,264 Other 10,666 16,555 136 27,357 Total revenue from external customers $ 174,534 $ 135,650 $ 29,002 $ 339,186 Three months ended June 30, 2018: North America $ 127,196 $ 63,738 $ - $ 190,934 Europe 44,964 41,127 24 86,115 Asia Pacific 9,069 17,641 30,284 56,994 Other 10,589 18,196 213 28,998 Total revenue from external customers $ 191,818 $ 140,702 $ 30,521 $ 363,041 Geographic Markets (In thousands) Flavors & Fragrances Color Asia Pacific Consolidated Six months ended June 30, 2019: North America $ 225,862 $ 131,308 $ 62 $ 357,232 Europe 89,324 80,817 148 170,289 Asia Pacific 17,039 31,537 56,988 105,564 Other 21,053 32,238 323 53,614 Total revenue from external customers $ 353,278 $ 275,900 $ 57,521 $ 686,699 Six months ended June 30, 2018: North America $ 246,251 $ 127,320 $ - $ 373,571 Europe 90,391 84,758 30 175,179 Asia Pacific 16,091 34,551 60,295 110,937 Other 21,567 37,801 463 59,831 Total revenue from external customers $ 374,300 $ 284,430 $ 60,788 $ 719,518

Retirement Plans (Tables)

Retirement Plans (Tables)	6 Months Ended
	Jun. 30, 2019
Retirement Plans [Abstract]
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 June 30, Six Months Ended June 30, (In thousands) 2019 2018 2019 2018 Service cost $ 359 $ 366 $ 718 $ 734 Interest cost 319 286 639 575 Expected return on plan assets (229 ) (241 ) (460 ) (486 ) Recognized actuarial gain (39 ) (27 ) (78 ) (54 ) Total defined benefit expense $ 410 $ 384 $ 819 $ 769

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Maturities of Operating Lease Liabilities	As of June 30, 2019, maturities of operating lease liabilities for future annual periods are as follows: (in thousands) Year ending December 31, 2019 $ 4,655 2020 7,789 2021 4,303 2022 2,224 2023 1,422 Thereafter 2,699 Total lease payments 23,092 Less imputed interest (1,911 ) Present value of lease liabilities $ 21,181

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2019
Accumulated Other Comprehensive Income [Abstract]
Changes in OCI	The following table summarizes the changes in OCI during the three and six month periods ended June 30, 2019 and 2018: (In thousands) Cash Flow Hedges (a) Pension Items (a) Foreign Currency Items Total Balances at December 31, 2018 $ 147 $ 549 $ (166,251 ) $ (165,555 ) Other comprehensive income before reclassifications 66 - 2,291 2,357 Amounts reclassified from OCI (271 ) (74 ) - (345 ) Balances at June 30, 2019 $ (58 ) $ 475 $ (163,960 ) $ (163,543 ) (In thousands) Cash Flow Hedges (a) Pension Items (a) Foreign Currency Items Total Balances at March 31, 2019 $ 632 $ 512 $ (167,415 ) $ (166,271 ) Other comprehensive income (loss) before reclassifications (531 ) - 3,455 2,924 Amounts reclassified from OCI (159 ) (37 ) - (196 ) Balances at June 30, 2019 $ (58 ) $ 475 $ (163,960 ) $ (163,543 ) (In thousands) Cash Flow Hedges (a) Pension Items (a) Foreign Currency Items Total Balances at December 31, 2017 $ (669 ) $ (309 ) $ (148,356 ) $ (149,334 ) Other comprehensive income (loss) before reclassifications 525 - (13,357 ) (12,832 ) Amounts reclassified from OCI 110 (60 ) - 50 Balances at June 30, 2018 $ (34 ) $ (369 ) $ (161,713 ) $ (162,116 ) (In thousands) Cash Flow Hedges (a) Pension Items (a) Foreign Currency Items Total Balances at March 31, 2018 $ 39 $ (339 ) $ (125,170 ) $ (125,470 ) Other comprehensive loss before reclassifications (145 ) - (36,543 ) (36,688 ) Amounts reclassified from OCI 72 (30 ) - 42 Balances at June 30, 2018 $ (34 ) $ (369 ) $ (161,713 ) $ (162,116 ) (a) Cash Flow Hedges and Pension Items are net of tax.

Accounting Policies (Details)

Accounting Policies (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Right of use assets	$ 21,200
Lease liabilities	$ 21,181
ASU 2016-02 [Member]
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Right of use assets		$ 20,700
Lease liabilities		$ 20,700

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Thousands	Jul. 10, 2018	Mar. 09, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Acquisition [Abstract]
Acquisition of new businesses			$ 0	$ (11,313)
Goodwill			$ 415,164		$ 416,175
Globe Natural [Member]
Acquisition [Abstract]
Acquisition of new businesses		$ (10,800)
Net assets acquired		1,400
Goodwill		7,400
Globe Natural [Member] | Customer Relationships [Member]
Acquisition [Abstract]
Intangibles assets acquired		$ 2,000
Mazza Innovation Limited [Member]
Acquisition [Abstract]
Acquisition of new businesses	$ (19,800)
Net assets acquired	4,000
Goodwill	8,900
Mazza Innovation Limited [Member] | Technological Know-how [Member]
Acquisition [Abstract]
Intangibles assets acquired	$ 6,900

Fair Value (Details)

Fair Value (Details) - Level 2 [Member] $ in Millions	Jun. 30, 2019USD ($)
Carrying Value [Member]
Investments, Fair Value Disclosure [Abstract]
Long term debt	$ 656.7
Fair Value [Member]
Investments, Fair Value Disclosure [Abstract]
Long term debt	$ 674.7

Segment Information, Operating

Segment Information, Operating Results by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue [Abstract]
Revenue	$ 339,186	$ 363,041	$ 686,699	$ 719,518
Operating income (loss)	47,368	52,181	96,788	107,862
Interest expense	5,200	5,555	10,602	11,110
Earnings before income taxes	42,168	46,626	86,186	96,752
Flavors & Fragrances [Member]
Revenue [Abstract]
Revenue	174,534	191,818	353,278	374,300
Operating income (loss)	20,050	24,001	43,175	49,328
Interest expense	0	0	0	0
Earnings before income taxes	20,050	24,001	43,175	49,328
Color [Member]
Revenue [Abstract]
Revenue	135,650	140,702	275,900	284,430
Operating income (loss)	27,877	31,133	58,076	64,805
Interest expense	0	0	0	0
Earnings before income taxes	27,877	31,133	58,076	64,805
Asia Pacific [Member]
Revenue [Abstract]
Revenue	29,002	30,521	57,521	60,788
Operating income (loss)	4,201	4,634	8,419	9,506
Interest expense	0	0	0	0
Earnings before income taxes	4,201	4,634	8,419	9,506
Reportable Segments [Member]
Revenue [Abstract]
Revenue	348,048	373,470	703,999	739,243
Reportable Segments [Member] | Flavors & Fragrances [Member]
Revenue [Abstract]
Revenue	180,134	198,658	363,687	387,004
Reportable Segments [Member] | Color [Member]
Revenue [Abstract]
Revenue	138,912	144,291	282,791	291,451
Reportable Segments [Member] | Asia Pacific [Member]
Revenue [Abstract]
Revenue	29,002	30,521	57,521	60,788
Intersegment Revenue [Member]
Revenue [Abstract]
Revenue	(8,862)	(10,429)	(17,300)	(19,725)
Intersegment Revenue [Member] | Flavors & Fragrances [Member]
Revenue [Abstract]
Revenue	(5,600)	(6,840)	(10,409)	(12,704)
Intersegment Revenue [Member] | Color [Member]
Revenue [Abstract]
Revenue	(3,262)	(3,589)	(6,891)	(7,021)
Intersegment Revenue [Member] | Asia Pacific [Member]
Revenue [Abstract]
Revenue	0	0	0	0
Corporate & Other [Member]
Revenue [Abstract]
Revenue	0	0	0	0
Operating income (loss)	(4,760)	(7,587)	(12,882)	(15,777)
Interest expense	5,200	5,555	10,602	11,110
Earnings before income taxes	$ (9,960)	$ (13,142)	$ (23,484)	$ (26,887)

Segment Information, Revenue fr

Segment Information, Revenue from External Customers by Product Line (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue [Abstract]
Revenue	$ 339,186	$ 363,041	$ 686,699	$ 719,518
Flavors & Fragrances [Member]
Revenue [Abstract]
Revenue	174,534	191,818	353,278	374,300
Flavors [Member]
Revenue [Abstract]
Revenue	101,495	115,222	205,771	224,273
Natural Ingredients [Member]
Revenue [Abstract]
Revenue	52,425	56,197	103,644	109,398
Fragrances [Member]
Revenue [Abstract]
Revenue	26,214	27,239	54,272	53,333
Color [Member]
Revenue [Abstract]
Revenue	135,650	140,702	275,900	284,430
Food & Beverage Colors [Member]
Revenue [Abstract]
Revenue	79,374	77,467	159,738	154,283
Cosmetics [Member]
Revenue [Abstract]
Revenue	35,855	40,727	74,138	86,231
Other Colors [Member]
Revenue [Abstract]
Revenue	23,683	26,097	48,915	50,937
Asia Pacific [Member]
Revenue [Abstract]
Revenue	29,002	30,521	57,521	60,788
Intersegment Revenue [Member]
Revenue [Abstract]
Revenue	(8,862)	(10,429)	(17,300)	(19,725)
Intersegment Revenue [Member] | Flavors & Fragrances [Member]
Revenue [Abstract]
Revenue	(5,600)	(6,840)	(10,409)	(12,704)
Intersegment Revenue [Member] | Color [Member]
Revenue [Abstract]
Revenue	(3,262)	(3,589)	(6,891)	(7,021)
Intersegment Revenue [Member] | Asia Pacific [Member]
Revenue [Abstract]
Revenue	$ 0	$ 0	$ 0	$ 0

Segment Information, Revenue _2

Segment Information, Revenue from External Customers by Geographic Markets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue [Abstract]
Revenue	$ 339,186	$ 363,041	$ 686,699	$ 719,518
North America [Member]
Revenue [Abstract]
Revenue	178,453	190,934	357,232	373,571
Europe [Member]
Revenue [Abstract]
Revenue	80,112	86,115	170,289	175,179
Asia Pacific [Member]
Revenue [Abstract]
Revenue	53,264	56,994	105,564	110,937
Other [Member]
Revenue [Abstract]
Revenue	27,357	28,998	53,614	59,831
Flavors & Fragrances [Member]
Revenue [Abstract]
Revenue	174,534	191,818	353,278	374,300
Color [Member]
Revenue [Abstract]
Revenue	135,650	140,702	275,900	284,430
Asia Pacific [Member]
Revenue [Abstract]
Revenue	29,002	30,521	57,521	60,788
Reportable Geographical Components [Member] | Flavors & Fragrances [Member] | North America [Member]
Revenue [Abstract]
Revenue	113,115	127,196	225,862	246,251
Reportable Geographical Components [Member] | Flavors & Fragrances [Member] | Europe [Member]
Revenue [Abstract]
Revenue	41,323	44,964	89,324	90,391
Reportable Geographical Components [Member] | Flavors & Fragrances [Member] | Asia Pacific [Member]
Revenue [Abstract]
Revenue	9,430	9,069	17,039	16,091
Reportable Geographical Components [Member] | Flavors & Fragrances [Member] | Other [Member]
Revenue [Abstract]
Revenue	10,666	10,589	21,053	21,567
Reportable Geographical Components [Member] | Color [Member] | North America [Member]
Revenue [Abstract]
Revenue	65,301	63,738	131,308	127,320
Reportable Geographical Components [Member] | Color [Member] | Europe [Member]
Revenue [Abstract]
Revenue	38,682	41,127	80,817	84,758
Reportable Geographical Components [Member] | Color [Member] | Asia Pacific [Member]
Revenue [Abstract]
Revenue	15,112	17,641	31,537	34,551
Reportable Geographical Components [Member] | Color [Member] | Other [Member]
Revenue [Abstract]
Revenue	16,555	18,196	32,238	37,801
Reportable Geographical Components [Member] | Asia Pacific [Member] | North America [Member]
Revenue [Abstract]
Revenue	37	0	62	0
Reportable Geographical Components [Member] | Asia Pacific [Member] | Europe [Member]
Revenue [Abstract]
Revenue	107	24	148	30
Reportable Geographical Components [Member] | Asia Pacific [Member] | Asia Pacific [Member]
Revenue [Abstract]
Revenue	28,722	30,284	56,988	60,295
Reportable Geographical Components [Member] | Asia Pacific [Member] | Other [Member]
Revenue [Abstract]
Revenue	$ 136	$ 213	$ 323	$ 463

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Inventories [Abstract]
Inventories, including finished and in-process products	$ 312.6	$ 320.4
Raw materials and supplies	$ 149.5	$ 170.4

Retirement Plans (Details)

Retirement Plans (Details) - Defined Benefit Plan [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 359	$ 366	$ 718	$ 734
Interest cost	319	286	639	575
Expected return on plan assets	(229)	(241)	(460)	(486)
Recognized actuarial gain	(39)	(27)	(78)	(54)
Total defined benefit expense	$ 410	$ 384	$ 819	$ 769

Leases (Details)

Leases (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2019USD ($)
Leases [Abstract]
Extended lease term	5 years	5 years
Operating lease expense	$ 2,800	$ 5,800
Cash paid for operating leases		5,000
Right-of-use assets in exchange for operating lease obligations		5,000
Right of use assets	21,200	21,200
Operating lease, other accrued expenses	8,100	8,100
Operating lease, other liabilities	$ 13,100	$ 13,100
Weighted average remaining operating lease term	3 years 8 months 12 days	3 years 8 months 12 days
Weighted average discount rate for operating leases	4.40%	4.40%
Maturities of Operating Lease Liabilities [Abstract]
2019	$ 4,655	$ 4,655
2020	7,789	7,789
2021	4,303	4,303
2022	2,224	2,224
2023	1,422	1,422
Thereafter	2,699	2,699
Total lease payments	23,092	23,092
Less imputed interest	(1,911)	(1,911)
Present value of lease liabilities	$ 21,181	$ 21,181

Derivative Instruments and He_2

Derivative Instruments and Hedging Activity (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Maximum [Member]
Derivative instruments and hedging activity for the period [Abstract]
Number of months for contracts to mature		18 months
Forward Exchange Contracts [Member] | Cash Flow Hedges [Member]
Derivative instruments and hedging activity for the period [Abstract]
Derivative, fair value	$ 38.1	$ 38.1	$ 76
Foreign Currency Denominated Debt, Net Investment Hedging [Member]
Derivative instruments and hedging activity for the period [Abstract]
Carrying value of foreign denominated debt	364.2	364.2	$ 366.5
Impact of foreign exchange rates on debt instruments recorded in Other Comprehensive Income	$ 2.5	$ (2.3)

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Taxes [Abstract]
Effective income tax rates for continuing operations	18.60%	16.10%	22.10%	20.10%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		$ 877,724	$ 827,456	$ 859,947	$ 852,301
Other comprehensive income (loss) before reclassifications		2,924	(36,688)	2,357	(12,832)
Amounts reclassified from OCI		(196)	42	(345)	50
Ending balance		897,482	816,429	897,482	816,429
Accumulated Other Comprehensive (Loss) Income [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		(166,271)	(125,470)	(165,555)	(149,334)
Ending balance		(163,543)	(162,116)	(163,543)	(162,116)
Cash Flow Hedges [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	[1]	632	39	147	(669)
Other comprehensive income (loss) before reclassifications	[1]	(531)	(145)	66	525
Amounts reclassified from OCI	[1]	(159)	72	(271)	110
Ending balance	[1]	(58)	(34)	(58)	(34)
Pension Items [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	[1]	512	(339)	549	(309)
Other comprehensive income (loss) before reclassifications	[1]	0	0	0	0
Amounts reclassified from OCI	[1]	(37)	(30)	(74)	(60)
Ending balance	[1]	475	(369)	475	(369)
Foreign Currency Items [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		(167,415)	(125,170)	(166,251)	(148,356)
Other comprehensive income (loss) before reclassifications		3,455	(36,543)	2,291	(13,357)
Amounts reclassified from OCI		0	0	0	0
Ending balance		$ (163,960)	$ (161,713)	$ (163,960)	$ (161,713)
[1]	Cash Flow Hedges and Pension Items are net of tax.

Accounts Receivable Securitiz_2

Accounts Receivable Securitization (Details) $ in Millions	Jun. 30, 2019USD ($)
Accounts Receivable Securitization [Abstract]
Accounts receivable securitization program commitment amount	$ 70
Maximum borrowing capacity, secured loan	70
Credit facility, borrowings outstanding	$ 70