Balchem (BCPC) 10-Q 28 Jul 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Jul. 20, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	1-13648
Entity Registrant Name	Balchem Corporation
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	13-2578432
Entity Address, Address Line One	5 Paragon Drive
Entity Address, City or Town	Montvale
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07645
City Area Code	845
Local Phone Number	326-5600
Title of 12(b) Security	Common Stock, par value $.06-2/3 per share
Trading Symbol	BCPC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		32,239,769
Entity Central Index Key	0000009326
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 66,856	$ 66,560
Accounts receivable, net of allowance for doubtful accounts of $1,354 and $1,226 at June 30, 2023 and December 31, 2022 respectively	125,109	131,578
Inventories, net	124,949	119,668
Prepaid expenses	8,829	4,903
Prepaid income taxes	3,550	0
Derivative assets	0	5,993
Other current assets	7,241	7,101
Total current assets	336,534	335,803
Property, plant and equipment, net	271,471	271,355
Goodwill	773,913	769,509
Intangible assets with finite lives, net	202,984	213,295
Right of use assets - operating leases	16,119	17,094
Right of use assets - finance lease	2,221	2,338
Other assets	15,989	15,118
Total assets	1,619,231	1,624,512
Current liabilities:
Trade accounts payable	56,323	57,322
Accrued expenses	41,159	36,745
Accrued compensation and other benefits	12,627	16,544
Dividends payable	186	23,129
Income taxes payable	0	2,280
Operating lease liabilities - current	3,859	3,796
Finance lease liabilities - current	232	226
Total current liabilities	114,386	140,042
Revolving loan	405,569	440,569
Deferred income taxes	61,849	62,784
Operating lease liabilities - non-current	13,088	13,806
Finance lease liabilities - non-current	2,097	2,213
Other long-term obligations	15,339	26,814
Total liabilities	612,328	686,228
Commitments and contingencies (Note 16)
Stockholders' equity:
Preferred stock, $25 par value. Authorized 2,000,000 shares; none issued and outstanding	0	0
Common stock, $0.0667 par value. Authorized 120,000,000 shares; 32,239,202 and 32,152,787 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively	2,151	2,145
Additional paid-in capital	137,254	128,806
Retained earnings	867,307	814,487
Accumulated other comprehensive income (loss)	191	(7,154)
Total stockholders' equity	1,006,903	938,284
Total liabilities and stockholders' equity	$ 1,619,231	$ 1,624,512

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Accounts receivable, allowance for doubtful accounts	$ 1,354	$ 1,226
Stockholders' equity:
Preferred stock, par value (in dollars per share)	$ 25	$ 25
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0667	$ 0.0667
Common stock, shares authorized (in shares)	120,000,000	120,000,000
Common stock, shares issued (in shares)	32,239,202	32,152,787
Common stock, shares outstanding (in shares)	32,239,202	32,152,787

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Net sales	$ 231,252	$ 236,693	$ 463,792	$ 465,560
Cost of sales	153,903	164,817	313,273	322,178
Gross margin	77,349	71,876	150,519	143,382
Operating expenses:
Selling expenses	18,684	15,991	36,867	32,976
Research and development expenses	3,795	2,922	7,245	6,153
General and administrative expenses	12,034	13,043	29,163	25,997
Total operating expenses	34,513	31,956	73,275	65,126
Earnings from operations	42,836	39,920	77,244	78,256
Other expenses, net:
Interest expense, net	5,163	960	10,728	1,505
Other income, net	(727)	(298)	(1,003)	(137)
Total other (income) expenses	4,436	662	9,725	1,368
Earnings before income tax expense	38,400	39,258	67,519	76,888
Income tax expense	8,290	9,476	14,699	18,176
Net earnings	$ 30,110	$ 29,782	$ 52,820	$ 58,712
Net earnings per common share - basic (in dollars per share)	$ 0.94	$ 0.93	$ 1.65	$ 1.83
Net earnings per common share - diluted (in dollars per share)	$ 0.93	$ 0.92	$ 1.63	$ 1.81

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net earnings	$ 30,110	$ 29,782	$ 52,820	$ 58,712
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	(1,116)	(6,951)	8,308	(9,793)
Unrealized (loss) gain on cash flow hedge	(554)	850	(1,065)	2,423
Change in postretirement benefit plans	2	(34)	102	(61)
Other comprehensive income (loss)	(1,668)	(6,135)	7,345	(7,431)
Comprehensive income	$ 28,442	$ 23,647	$ 60,165	$ 51,281

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Common Stock	Additional Paid-in Capital
Beginning balance at Dec. 31, 2021	$ 877,015	$ 732,138	$ (4,993)	$ 2,154	$ 147,716
Beginning balance, common stock (in shares) at Dec. 31, 2021				32,287,150
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	28,930	28,930
Other comprehensive income (loss)	(1,296)		(1,296)
Repurchases of common stock	(34,599)			$ (16)	(34,583)
Repurchases of common stock (in shares)				(245,685)
Dividends	(10)	(10)
Shares and options issued under stock plans	3,642			$ 4	3,638
Shares and options issued under stock plans (in shares)				74,604
Ending balance at Mar. 31, 2022	873,682	761,058	(6,289)	$ 2,142	116,771
Ending balance, common stock (in shares) at Mar. 31, 2022				32,116,069
Beginning balance at Dec. 31, 2021	877,015	732,138	(4,993)	$ 2,154	147,716
Beginning balance, common stock (in shares) at Dec. 31, 2021				32,287,150
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	58,712
Other comprehensive income (loss)	(7,431)
Ending balance at Jun. 30, 2022	901,370	790,840	(12,424)	$ 2,143	120,811
Ending balance, common stock (in shares) at Jun. 30, 2022				32,120,593
Beginning balance at Mar. 31, 2022	873,682	761,058	(6,289)	$ 2,142	116,771
Beginning balance, common stock (in shares) at Mar. 31, 2022				32,116,069
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	29,782	29,782
Other comprehensive income (loss)	(6,135)		(6,135)
Repurchases of common stock	(600)				(600)
Repurchases of common stock (in shares)				(4,976)
Shares and options issued under stock plans	4,641			$ 1	4,640
Shares and options issued under stock plans (in shares)				9,500
Ending balance at Jun. 30, 2022	901,370	790,840	(12,424)	$ 2,143	120,811
Ending balance, common stock (in shares) at Jun. 30, 2022				32,120,593
Beginning balance at Dec. 31, 2022	$ 938,284	814,487	(7,154)	$ 2,145	128,806
Beginning balance, common stock (in shares) at Dec. 31, 2022	32,152,787			32,152,787
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	$ 22,710	22,710
Other comprehensive income (loss)	9,013		9,013
Repurchases of common stock	(3,849)			$ (2)	(3,847)
Repurchases of common stock (in shares)				(28,109)
Shares and options issued under stock plans	7,258			$ 7	7,251
Shares and options issued under stock plans (in shares)				100,949
Ending balance at Mar. 31, 2023	973,416	837,197	1,859	$ 2,150	132,210
Ending balance, common stock (in shares) at Mar. 31, 2023				32,225,627
Beginning balance at Dec. 31, 2022	$ 938,284	814,487	(7,154)	$ 2,145	128,806
Beginning balance, common stock (in shares) at Dec. 31, 2022	32,152,787			32,152,787
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	$ 52,820
Other comprehensive income (loss)	7,345
Ending balance at Jun. 30, 2023	$ 1,006,903	867,307	191	$ 2,151	137,254
Ending balance, common stock (in shares) at Jun. 30, 2023	32,239,202			32,239,202
Beginning balance at Mar. 31, 2023	$ 973,416	837,197	1,859	$ 2,150	132,210
Beginning balance, common stock (in shares) at Mar. 31, 2023				32,225,627
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	30,110	30,110
Other comprehensive income (loss)	(1,668)		(1,668)
Repurchases of common stock	(75)				(75)
Repurchases of common stock (in shares)				(567)
Shares and options issued under stock plans	5,120			$ 1	5,119
Shares and options issued under stock plans (in shares)				14,142
Ending balance at Jun. 30, 2023	$ 1,006,903	$ 867,307	$ 191	$ 2,151	$ 137,254
Ending balance, common stock (in shares) at Jun. 30, 2023	32,239,202			32,239,202

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net earnings	$ 52,820	$ 58,712
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	27,074	23,861
Stock compensation expense	8,518	6,889
Deferred income taxes	(573)	1,778
Provision for doubtful accounts	133	380
Unrealized (gain) loss on foreign currency transactions and deferred compensation	(1,010)	188
Asset impairment and loss on disposal of assets	5,203	226
Change in fair value of contingent consideration liability	(6,400)	0
Changes in assets and liabilities
Accounts receivable	6,621	(15,506)
Inventories	(5,332)	(33,141)
Prepaid expenses and other current assets	(5,389)	(1,733)
Accounts payable and accrued expenses	(5,451)	15,075
Income taxes	(6,293)	(779)
Other	(92)	(689)
Net cash provided by operating activities	69,829	55,261
Cash flows from investing activities:
Cash paid for acquisitions, net of cash acquired	(341)	(295,660)
Capital expenditures and intangible assets acquired	(17,952)	(20,799)
Proceeds from sale of assets	1,881	197
Proceeds from settlement of net investment hedge	2,740	0
Investment in affiliates	0	(150)
Net cash used in investing activities	(13,672)	(316,412)
Cash flows from financing activities:
Proceeds from revolving loan	13,000	365,000
Principal payments on revolving loan	(48,000)	(40,000)
Principal payments on acquired debt	0	(30,648)
Principal payments on finance lease	(110)	(83)
Proceeds from stock options exercised	3,826	1,328
Dividends paid	(22,869)	(20,704)
Purchase of common stock	(3,924)	(35,199)
Net cash (used in) provided by financing activities	(58,077)	239,694
Effect of exchange rate changes on cash	2,216	(5,599)
Increase (decrease) in cash and cash equivalents	296	(27,056)
Cash and cash equivalents beginning of period	66,560	103,239
Cash and cash equivalents end of period	$ 66,856	$ 76,183

CONDENSED CONSOLIDATED FINANCIA

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The condensed consolidated financial statements presented herein have been prepared in accordance with the accounting policies described in the December 31, 2022 consolidated financial statements, and should be read in conjunction with the consolidated financial statements and notes, which appear in the Annual Report on Form 10-K for the year ended December 31, 2022. The condensed consolidated financial statements reflect the operations of Balchem Corporation and its subsidiaries (the "Company" or "Balchem"). All intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, the unaudited condensed consolidated financial statements furnished in this Form 10-Q include all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. All such adjustments are of a normal, recurring nature. The condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP” or “GAAP”) governing interim financial statements and the instructions to Form 10-Q and Article 10 of Regulation S-X under the Securities Exchange Act of 1934 (the "Exchange Act") and therefore do not include some information and notes necessary to conform to annual reporting requirements. The results of operations for the three and six months ended June 30, 2023 are not necessarily indicative of the operating results expected for the full year or any interim period. Recently Adopted Accounting Pronouncements In March 2020, the FASB issued Accounting Standards Update ("ASU") 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." This ASU provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. The guidance provides optional expedients and exceptions for applying GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. The ASU is intended to help stakeholders during the global market-wide reference rate transition period. Therefore, this Standard Update is in effect from March 12, 2020 through December 31, 2022. In January 2021, the FASB issued ASU 2021-01, "Reference Rate Reform (Topic 848): Scope." ASU 2021-01 clarifies that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. The ASU also amends the expedients and exceptions in Topic 848 to capture the incremental consequences of the scope clarification and to tailor the existing guidance to derivative instruments affected by the discounting transition. In December 2022, the FASB issued ASU 2022-06, "Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848." The amendments in this Update defer the sunset date of Topic 848 from December 31, 2022 to December 31, 2024 as the UK Financial Conduct Authority ("FCA") announced that the intended cessation date would be June 30, 2023, which is beyond the current sunset date of Topic 848. The Company adopted the Standard Update in 2021. Due to the discontinuation of LIBOR and under the relief provided by Topic 848, during the third quarter of 2022, the Company modified its existing interest rate swap and replaced LIBOR with 1-month CME Term SOFR (see Note 20, Derivative Instruments and Hedging Activities ). The modification of the agreement did not have a significant impact on the Company's consolidated financial statements and disclosures.

SIGNIFICANT ACQUISITIONS

SIGNIFICANT ACQUISITIONS	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
SIGNIFICANT ACQUISITIONS	SIGNIFICANT ACQUISITIONS Cardinal Associates Inc. ("Bergstrom") On August 30, 2022, the Company's wholly-owned subsidiary Albion Laboratories, Inc. ("Albion") entered into a Stock Purchase Agreement, and closed on such transaction with Cardinal Associates Inc. ("Cardinal"), a corporation organized under the laws of the State of Washington, pursuant to which Albion acquired 100% of the voting equity interests of Cardinal and its Bergstrom Nutrition business (collectively, "Bergstrom"). Bergstrom Nutrition is a leading science-based manufacturer of MSM, based in Vancouver, Washington. MSM is a widely used nutritional ingredient with strong scientific evidence supporting its benefits for joint health, sports nutrition, skin and beauty, healthy aging, and pet health. The addition of OptiMSM ® , Bergstrom Nutrition's MSM brand, to the Company's portfolio within the Human Nutrition and Health and Animal Nutrition and Health segments provides a synergistic scientific advantage in Balchem's key strategic therapeutic focus areas such as longevity and performance and is a strong fit with Balchem's specialty, science-backed mineral products. The Company made payments of $71,233 for the acquisition, amounting to $71,027 to the former shareholders or on behalf of the former shareholders and $206 to pay off Bergstrom's bank debt. Net of cash acquired of $773, total payments made to the former shareholders or on behalf of the former shareholders of Bergstrom were $70,254. The acquisition was primarily financed through the 2022 Credit Agreement (see Note 8, Revolving Loan ). In connection with this transaction, the former shareholders of Bergstrom have an opportunity to receive an additional payment in the second quarter of 2024 if certain financial performance targets and other metrics are met, and therefore, the Company recorded a contingent consideration liability, which was valued at $5,000 as of June 30, 2023. As a result, total payments related to the transaction are expected to be $76,233, comprised of the upfront cash consideration of $70,892, a working capital adjustment of $341, and the fair value of the earn-out payment of $5,000. The goodwill of $31,550 that arose on the acquisition date consists largely of expected synergies, including the combined entities' experience and technical problem-solving capabilities, and acquired workforce. 80% of the goodwill is assigned to the Human Nutrition and Health business segment and 20% of the goodwill is assigned to the Animal Nutrition and Health business segment. For tax purposes, a joint election under 338(h)(10) was made to treat the stock acquisition as a deemed asset acquisition, therefore generating tax amortizable goodwill. The following table summarizes the fair values of the assets acquired and liabilities assumed: Cash and cash equivalents $ 773 Accounts receivable 4,699 Inventories 3,972 Property, plant and equipment 2,243 Right of use assets 866 Customer relationships 29,900 Developed technology 4,600 Trademarks 2,300 Other assets 197 Accounts payable (699) Bank debt (206) Lease liabilities (871) Other liabilities (462) Goodwill 31,550 Total consideration on acquisition date and working capital adjustment 78,862 Net decrease to contingent consideration liability (2,835) Total expected consideration 76,027 To pay off bank debt 206 Total expected payments $ 76,233 The fair value of tangible and intangible assets acquired and liabilities assumed is based on management’s estimates and assumptions, which are subject to change. In preparing our preliminary fair value estimates of the intangible assets and certain tangible assets acquired, management, among other things, consulted an independent advisor. Valuation methods utilized include net realizable value for inventory, multi-period excess earnings method for customer relationships, the relief from royalty method for other intangible assets, and a scenario-based approach for the contingent consideration. Customer relationships are amortized over a 15-year period utilizing a percentage of excess earnings over economic life method. The corporate trademark and product trademarks are amortized over 2 years and 10 years, respectively, and developed technology is amortized over 12 years, utilizing the straight-line method as the consumption pattern of the related economic benefits cannot be reliably determined. Transaction and integration costs related to the Bergstrom acquisition are included in general and administrative expenses and were $(7,769) and $(5,880) for the three and six months ended June 30, 2023, respectively. These amounts included favorable adjustments to transaction costs of $8,000 and $6,400 for the three and six months ended June 30, 2023, respectively. Transaction and integration costs related to the Bergstrom acquisition were $75 for the three and six months ended June 30, 2022. Kechu BidCo AS and Its Subsidiary Companies ("Kappa") On June 21, 2022, Balchem Corporation and its wholly-owned subsidiary, Balchem B.V., completed the acquisition of Kechu BidCo AS and its subsidiary companies, including Kappa Bioscience AS, a leading science-based manufacturer of specialty vitamin K2 for the human nutrition industry, headquartered in Oslo, Norway (all acquired companies collectively referred to as “Kappa”). Kappa manufactures specialty vitamin K2, a fast-growing specialty vitamin that plays a crucial role in the human body for bone health, heart health and immunity. Primarily, vitamin K2 supports the transport and distribution of calcium in the body. Vitamin K2 is important at all life stages, from pregnancy and early life to healthy aging. The acquisition strengthens the Company's scientific and technical expertise, geographic reach, and marketplace leadership, which should ultimately lead to accelerated growth for the Company's portfolios within the Human Nutrition and Health segment. The Company made payments of approximately kr3,305,653 ("kr" indicates the Norwegian krone), amounting to approximately kr3,001,981 to the former shareholders and approximately kr303,672 to Kappa's lenders to pay off all Kappa bank debt. Net of cash acquired of kr63,064, total payments to the former shareholders were kr2,938,917. Net of gains on foreign currency forward contracts of $512, these payments translated to approximately $333,112, amounting to approximately $302,464 paid to the former shareholders and approximately $30,648 to Kappa's lenders. Net of cash acquired of $6,365, total payments made to the former shareholders of Kappa were approximately $296,099. The acquisition was primarily financed through the 2018 Credit Agreement (see Note 8, Revolving Loan). In connection with this transaction, the former shareholders of Kappa have an opportunity to receive an additional payment in the second quarter of 2024 if certain financial performance targets and other metrics are met. There was no contingent consideration liability recorded as of June 30, 2023. The goodwill of $216,383 that arose on the acquisition date consists largely of expected synergies, including the combined entities' experience and technical problem-solving capabilities, and acquired workforce. The goodwill is assigned to the Human Nutrition and Health business segment and is not deductible for income tax purposes. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed. The transactions were completed in Norwegian kroner ("NOK") and the amounts were translated to U.S. dollars ("USD") using the foreign currency exchange rate as of June 21, 2022. Cash and cash equivalents $ 6,365 Accounts receivable 8,036 Inventories 17,600 Property, plant and equipment 9,854 Right of use assets 3,349 Customer relationships 88,813 Developed technology 15,643 Trademarks 5,046 Other assets 2,399 Accounts payable (3,301) Bank debt (30,648) Lease liabilities (3,349) Other liabilities (4,461) Deferred income taxes, net (24,716) Goodwill 216,383 Total consideration on acquisition date 307,013 Decrease to contingent consideration liability (4,037) Net gain on foreign currency exchange forward contracts (512) Total expected consideration 302,464 Kappa bank debt paid on acquisition date 30,648 Total expected payments $ 333,112 The estimated fair value of tangible and intangible assets acquired and liabilities assumed is based on management’s estimates and assumptions. In preparing our fair value estimates of the intangible assets and certain tangible assets acquired, management, among other things, consulted an independent advisor. Valuation methods utilized include net realizable value for inventory, multi-period excess earnings method for customer relationships, the relief from royalty method for other intangible assets, and a scenario-based approach for the contingent consideration. Customer relationships are amortized over a 15-year period utilizing a percentage of excess earnings over economic life method. The corporate trademark and product trademarks are amortized over 2 years and 10 years, respectively, and developed technology is amortized over 12 years, utilizing the straight-line method as the consumption pattern of the related economic benefits cannot be reliably determined. Transaction and integration costs related to the Kappa acquisition are included in general and administrative expenses and were $204 and $479 for the three and six months ended June 30, 2023, respectively, and $451 for both the three and six months ended June 30, 2022. The following selected unaudited pro forma information presents the consolidated results of operations as if the business combinations in 2022 had occurred as of January 1, 2021. Three Months Ended June 30, Six Months Ended June 30, Net Sales Net Earnings Net Sales Net (Loss)/Earnings Kappa & Bergstrom actual results included in the Company's consolidated income statement in three and six months ended June 30, 2023 $ 13,615 $ 1,094 $ 27,745 $ (1,215) 2023 Supplemental pro forma combined financial $ 231,252 $ 31,890 $ 463,792 $ 57,218 2022 Supplemental pro forma combined financial $ 254,507 $ 30,005 $ 501,875 $ 59,444 The above selected unaudited pro forma information includes the following acquisition-related adjustments: (1) additional amortization of intangible assets and depreciation of fixed assets; (2) adjustments related to the fair value of the acquired inventory, (3) adjustments to interest expense on borrowings at rates in effect during the related period, factoring in estimated payments based on free cash flow, and (4) other one-time adjustments. The pro forma information presented does not purport to be indicative of the results that actually would have been attained if these acquisitions had occurred at the beginning of the periods presented and is not intended to be a projection of future results.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS' EQUITY Stock-Based Compensation The Company’s results for the three and six months ended June 30, 2023 and 2022 reflected the following stock-based compensation cost, and such compensation cost had the following effects on net earnings: Increase/(Decrease) for the Increase/(Decrease) for the Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Cost of sales $ 545 $ 277 $ 959 $ 676 Operating expenses 3,203 3,535 7,559 6,213 Net earnings (2,881) (2,933) (6,563) (5,312) As allowed by ASC 718, the Company has made an estimate of expected forfeitures based on its historical experience and is recognizing compensation cost only for those stock-based compensation awards expected to vest. The Company's omnibus incentive plan allows for the granting of stock awards and options to purchase common stock. Both incentive stock options and nonqualified stock options can be awarded under the plan. No option will be exercisable for longer than ten years after the date of grant. The Company has approved and reserved a number of shares to be issued upon exercise of the outstanding options that is adequate to cover all exercises. As of June 30, 2023, the plan had 1,034,630 shares available for future awards, which included an additional 800,000 shares approved by the Company's shareholders during its annual meeting of shareholders held on June 22, 2023. Compensation expense for stock options and stock awards is recognized on a straight-line basis over the vesting period, generally three Option activity for the six months ended June 30, 2023 and 2022 is summarized below: For the Six Months Ended June 30, 2023 Shares (000s) Weighted Aggregate Weighted Outstanding as of December 31, 2022 1,045 $ 99.82 $ 27,221 Granted 109 138.09 Exercised (46) 83.43 Forfeited (11) 131.79 Canceled (1) 138.07 Outstanding as of June 30, 2023 1,096 $ 103.96 $ 35,430 6.2 Exercisable as of June 30, 2023 728 $ 87.95 $ 34,170 4.8 For the Six Months Ended June 30, 2022 Shares (000s) Weighted Aggregate Weighted Outstanding as of December 31, 2021 867 $ 88.19 $ 69,711 Granted 109 138.07 Exercised (18) 72.74 Forfeited (6) 120.36 Canceled — — Outstanding as of June 30, 2022 952 $ 93.99 $ 34,907 6.4 Exercisable as of June 30, 2022 666 $ 81.11 $ 32,409 5.4 ASC 718 requires companies to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. The weighted average fair values of the stock options granted under the Plans were calculated using either the Black-Scholes model or the Binomial model, whichever was deemed to be most appropriate. For the six months ended June 30, 2023, the fair value of each option grant was estimated on the date of the grant using the following weighted average assumptions: dividend yields of 0.5%; expected volatilities of 28%; risk-free interest rates of 3.9%; and expected lives of 4.8 years. For the six months ended June 30, 2022, the fair value of each option grant was estimated on the date of the grant using the following weighted average assumptions: dividend yields of 0.5%; expected volatilities of 31%; risk-free interest rates of 2.0%; and expected lives of 4.9 years. The Company used a projected expected life for each award granted based on historical experience of employees’ exercise behavior. Expected volatility is based on the Company’s historical volatility levels. Dividend yields are based on the Company’s historical dividend yields. Risk-free interest rates are based on the implied yields currently available on U.S. Treasury zero-coupon issues with a remaining term equal to the expected life. Other information pertaining to option activity during the three and six months ended June 30, 2023 and 2022 is as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 Weighted-average fair value of options granted $ — $ — $ 40.91 $ 40.26 Total intrinsic value of stock options exercised ($000s) $ 597 $ 495 $ 2,181 $ 1,149 Non-vested restricted stock activity for the six months ended June 30, 2023 and 2022 is summarized below: Six Months Ended June 30, 2023 2022 Shares (000s) Weighted Shares (000s) Weighted Non-vested balance as of December 31 122 $ 124.42 166 $ 99.70 Granted 39 137.48 34 137.74 Vested (32) 110.95 (77) 80.84 Forfeited (4) 128.06 (3) 116.73 Non-vested balance as of June 30 125 $ 131.76 120 $ 122.03 Non-vested performance share activity for the six months ended June 30, 2023 and 2022 is summarized below: Six Months Ended June 30, 2023 2022 Shares (000s) Weighted Shares (000s) Weighted Non-vested balance as of December 31 70 $ 127.69 69 $ 110.72 Granted 42 139.66 39 114.22 Vested (36) 98.84 (35) 53.17 Forfeited — — (3) 84.09 Non-vested balance as of June 30 76 $ 135.25 70 $ 127.69 The performance share (“PS”) awards provide the recipients the right to receive a certain number of shares of the Company’s common stock in the future, subject to an EBITDA performance hurdle, where vesting is dependent upon the Company achieving a certain EBITDA percentage growth over the performance period, and relative total shareholder return (TSR) where vesting is dependent upon the Company’s TSR performance over the performance period relative to a comparator group consisting of the Russell 2000 index constituents. Expense is measured based on the fair value at the date of grant utilizing a Black-Scholes methodology to produce a Monte-Carlo simulation model which allows for the incorporation of the performance hurdles that must be met before the PS vests. The assumptions used in the fair value determination were risk free interest rates of 4.2% and 1.8%; dividend yields of 0.5% and 0.5%; volatilities of 32% and 32%; and initial TSR’s of 4.2% and -15.7%, in each case for the six months ended June 30, 2023 and 2022, respectively. Expense is estimated based on the number of shares expected to vest, assuming the requisite service period is rendered and the probable outcome of the performance condition is achieved. The estimate is revised if subsequent information indicates that the actual number of shares likely to vest differs from previous estimates. Expense is ultimately adjusted based on the actual achievement of service and performance targets. The PS will cliff vest 100% at the end of the third year following the grant in accordance with the performance metrics set forth. As of June 30, 2023 and 2022, there were $26,244 and $19,988, respectively, of total unrecognized compensation costs related to non-vested share-based compensation arrangements granted under the plans. As of June 30, 2023, the unrecognized compensation cost is expected to be recognized over a weighted-average period of approximately 2.1 years. The Company estimates that share-based compensation expense for the year ended December 31, 2023 will be approximately $16,000. Repurchase of Common Stock

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories, net of reserves at June 30, 2023 and December 31, 2022 consisted of the following: June 30, 2023 December 31, 2022 Raw materials $ 39,780 $ 44,477 Work in progress 9,604 3,143 Finished goods 75,565 72,048 Total inventories $ 124,949 $ 119,668

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment at June 30, 2023 and December 31, 2022 are summarized as follows: June 30, 2023 December 31, 2022 Land $ 11,901 $ 11,415 Building 94,638 90,644 Equipment 287,765 278,851 Construction in progress 77,681 79,928 471,985 460,838 Less: accumulated depreciation 200,514 189,483 Property, plant and equipment, net $ 271,471 $ 271,355 In accordance with Topic 360, the Company reviews long-lived assets for impairment on an annual basis and also whenever events indicate that the carrying amount of the assets may not be fully recoverable. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset, which is generally based on discounted cash flows. Included in “General and administrative expenses” were $6,146 of restructuring-related impairment and asset disposal charges for the three and six months ended June 30, 2023. There were no such charges for the three and six months ended June 30, 2022.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	INTANGIBLE ASSETS The Company had goodwill in the amount of $773,913 and $769,509 as of June 30, 2023 and December 31, 2022, respectively, subject to the provisions of ASC 350, “Intangibles-Goodwill and Other.” The increase in goodwill is primarily due to foreign currency translation adjustments and an insignificant amount of additional consideration paid related to finalization of the Bergstrom acquired working capital. Identifiable intangible assets with finite lives at June 30, 2023 and December 31, 2022 are summarized as follows: Amortization Gross Carrying Amount at June 30, 2023 Accumulated Amortization at June 30, 2023 Gross Carrying Amount at December 31, 2022 Accumulated Amortization at December 31, 2022 Customer relationships & lists 10-20 $ 360,156 $ 199,773 $ 357,131 $ 190,576 Trademarks & trade names 2-17 50,203 35,238 50,058 33,416 Developed technology 5-12 40,925 16,375 40,473 16,171 Other 2-18 25,446 22,360 25,041 19,245 $ 476,730 $ 273,746 $ 472,703 $ 259,408 Amortization of identifiable intangible assets was approximately $6,892 and $14,185 for the three and six months ended June 30, 2023, respectively, and $5,850 and $11,761 for the three and six months ended June 30, 2022, respectively. Assuming no change in the gross carrying value of identifiable intangible assets, estimated amortization expense is $13,876 for the remainder of 2023, $18,965 for 2024, $15,512 for 2025, $15,343 for 2026, $14,854 for 2027 and $14,457 for 2028. At June 30, 2023 and December 31, 2022, there were no identifiable intangible assets with indefinite useful lives as defined by ASC 350. Identifiable intangible assets are reflected in “Intangible assets with finite lives, net” in the Company’s condensed consolidated balance sheets. There were no changes to the useful lives of intangible assets subject to amortization during the six months ended June 30, 2023 and 2022.

EQUITY METHOD INVESTMENT

EQUITY METHOD INVESTMENT	6 Months Ended
	Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
EQUITY METHOD INVESTMENT	EQUITY METHOD INVESTMENTIn 2013, the Company and Eastman Chemical Company (formerly Taminco Corporation) formed a joint venture (66.66% / 33.34% ownership), St. Gabriel CC Company, LLC, to design, develop, and construct an expansion of the Company’s St. Gabriel aqueous choline chloride plant. The Company contributed the St. Gabriel plant, at cost, and all continued expansion and improvements are funded by the owners. The joint venture became operational as of July 1, 2016. St. Gabriel CC Company, LLC is a Variable Interest Entity (VIE) because the total equity at risk is not sufficient to permit the joint venture to finance its own activities without additional subordinated financial support. Additionally, voting rights (2 votes each) are not proportionate to the owners’ obligation to absorb expected losses or receive the expected residual returns of the joint venture. The Company receives up to 2/3 of the production offtake capacity and absorbs operating expenses approximately proportional to the actual percentage of offtake. The joint venture is accounted for under the equity method of accounting since the Company is not the primary beneficiary as the Company does not have the power to direct the activities of the joint venture that most significantly impact its economic performance. The Company recognized a loss of $139 and $278 for the three and six months ended June 30, 2023, respectively, and $140 and $280 for the three and six months ended June 30, 2022, respectively, relating to its portion of the joint venture's expenses in other expense. The Company made capital contributions to the investment totaling $16 and $72 for the three and six months ended June 30, 2023, respectively, and $75 and $133 for the three and six months ended June 30, 2022. The carrying value of the joint venture at June 30, 2023 and December 31, 2022 was $4,089 and $4,295, respectively, and is recorded in "Other assets".

REVOLVING LOAN

REVOLVING LOAN	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
REVOLVING LOAN	REVOLVING LOAN On June 27, 2018, the Company and a bank syndicate entered into a credit agreement (the "2018 Credit Agreement"), which provided for revolving loans up to $500,000, due on June 27, 2023. During the second quarter of 2022, the Company borrowed $345,000 under the 2018 Credit Agreement to fund the Kappa acquisition (see Note 2, Significant Acquisitions ). On July 27, 2022, the Company entered into an Amended and Restated Credit Agreement (the "2022 Credit Agreement") with certain lenders in the form of a senior secured revolving credit facility, due on July 27, 2027. The 2022 Credit Agreement allows for up to $550,000 of borrowing. The loans may be used for working capital, letters of credit, and other corporate purposes and may be drawn upon at the Company’s discretion. The Company used initial proceeds from the 2022 Credit Agreement to repay the outstanding balance of $433,569 due in June 2023 under the 2018 Credit Agreement. During the third quarter of 2022, the Company borrowed another $70,000 to fund the Bergstrom acquisition (see Note 2, Significant Acquisitions ). As of June 30, 2023 and December 31, 2022, the total balance outstanding on the 2022 Credit Agreement amounted to $405,569 and $440,569. There are no installment payments required on the revolving loans; they may be voluntarily prepaid in whole or in part without premium or penalty, and all outstanding amounts are due on the maturity date. In connection with the entering into the Amended and Restated Credit Agreement, the Company also modified its existing interest rate swap under the relief provided for in ASC 848, "Reference Rate Reform" (see Note 20, Derivative Instruments and Hedging Activities ). Amounts outstanding under the 2022 Credit Agreement are subject to an interest rate equal to a fluctuating rate as defined by the 2022 Credit Agreement plus an applicable rate. The applicable rate is based upon the Company’s consolidated net leverage ratio, as defined in the 2022 Credit Agreement, and the interest rate was 6.330% at June 30, 2023. The Company is also required to pay a commitment fee on the unused portion of the revolving loan, which is based on the Company’s consolidated net leverage ratio as defined in the 2022 Credit Agreement and ranges from 0.150% to 0.225% (0.175% at June 30, 2023). The unused portion of the revolving loan amounted to $144,431 at June 30, 2023. The Company is also required to pay, as applicable, letter of credit fees, administrative agent fees, and other fees to the arrangers and lenders. Costs associated with the issuance of the revolving loans are capitalized and amortized on a straight-line basis over the term of the 2022 Credit Agreement, which is not materially different than the effective interest method. Capitalized costs net of accumulated amortization were $1,174 and $1,317 at June 30, 2023 and December 31, 2022, respectively, and are included in "Other Assets" on the condensed consolidated balance sheets. Amortization expense pertaining to these costs totaled $73 and $144 for the three and six months ended June 30, 2023, respectively, and $70 and $141 for the three and six months ended June 30, 2022, respectively, and are included in "Interest expense, net" in the accompanying condensed consolidated statements of earnings. The 2022 Credit Agreement contains quarterly covenants requiring the consolidated leverage ratio to be less than a certain maximum ratio and the consolidated interest coverage ratio to exceed a certain minimum ratio. At June 30, 2023, the Company was in compliance with these covenants. Indebtedness under the Company’s loan agreements is secured by assets of the Company.

NET EARNINGS PER SHARE

NET EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
NET EARNINGS PER SHARE	NET EARNINGS PER SHARE The following presents a reconciliation of the net earnings and shares used in calculating basic and diluted net earnings per share: Three Months Ended Six Months Ended 2023 2022 2023 2022 Net Earnings - Basic and Diluted $ 30,110 $ 29,782 $ 52,820 $ 58,712 Shares (000s) Weighted Average Common Shares - Basic 32,110 31,999 32,094 32,020 Effect of Dilutive Securities – Stock Options, Restricted Stock, and Performance Shares 324 315 330 375 Weighted Average Common Shares - Diluted 32,434 32,314 32,424 32,395 Net Earnings Per Share - Basic $ 0.94 $ 0.93 $ 1.65 $ 1.83 Net Earnings Per Share - Diluted $ 0.93 $ 0.92 $ 1.63 $ 1.81 The number of anti-dilutive shares were 352,759 and 391,269 for the three and six months ended June 30, 2023, respectively, and 294,568 and 237,453 for the three and six months ended June 30, 2022, respectively . Anti-dilutive shares could potentially dilute basic earnings per share in future periods and therefore, were not included in diluted earnings per share.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s effective tax rate for the three months ended June 30, 2023 and 2022, was 21.6% and 24.1%, respectively, and 21.8% and 23.6% for the six months ended June 30, 2023 and 2022, respectively. The decrease was primarily due to certain lower state taxes and higher tax benefits from stock-based compensation. Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company regularly reviews its deferred tax assets for recoverability and would establish a valuation allowance if it believed that such assets may not be recovered, taking into consideration historical operating results, expectations of future earnings, changes in its operations and the expected timing of the reversals of existing temporary differences. The Company accounts for uncertainty in income taxes utilizing ASC 740-10, "Income Taxes". ASC 740-10 clarifies whether or not to recognize assets or liabilities for tax positions taken that may be challenged by a tax authority. It prescribes a recognition threshold and measurement attribute for financial statement disclosure of tax positions taken or expected to be taken. This interpretation also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, and disclosures. The application of ASC 740-10 requires judgment related to the uncertainty in income taxes and could impact our effective tax rate. The Company files income tax returns in the U.S. and in various states and foreign countries. As of June 30, 2023, in the major jurisdictions where the Company operates, it is generally no longer subject to income tax examinations by tax authorities for years before 2018. The Company had approxim ately $4,586 and $5,815 of unrecognized tax benefits, which are included in "Other long-term obligations" on the Company’s condensed consolidated balance sheets, as of June 30, 2023 and December 31, 2022, respectively. The Company includes interest expense or income as well as potential penalties on unrecognized tax positions as a component of "Income tax expense" in the condensed consolidated statements of earnings. Total accrued interest and penalties related to uncertain tax positions at June 30, 2023 and December 31, 2022 was approximately $1,636 and $1,735, respectively, and are included in "Other long-term obligations".

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Balchem Corporation reports three reportable segments: Human Nutrition and, Animal Nutrition and Health, and Specialty Products. Sales and production of products outside of our reportable segments and other minor business activities are included in "Other and Unallocated". Human Nutrition and Health The Human Nutrition and Health ("HNH") segment provides human grade choline nutrients and mineral amino acid chelated products through this segment for nutrition and health applications. Choline is recognized to play a key role in the development and structural integrity of brain cell membranes in infants, processing dietary fat, reproductive development and neural functions, such as memory and muscle function. The Company's mineral amino acid chelates, specialized mineral salts, and mineral complexes are used as raw materials for inclusion in premier human nutrition products; proprietary technologies have been combined to create an organic molecule in a form the body can readily assimilate. Sales growth for human nutrition applications is reliant on differentiation from lower-cost competitive products through scientific data, intellectual property and customers' appreciation of brand value. Consequently, the Company makes investments in such activities for long-term value differentiation. This segment also serves the food and beverage industry for beverage, bakery, dairy, confectionary, and savory manufacturers. The Company partners with its customers from ideation through commercialization to bring on-trend beverages, baked goods, confections, dairy and meat products to market. The Company has expertise in trends analysis and product development. With its strong manufacturing capabilities in customized spray dried and emulsified powders, extrusion and agglomeration, blended lipid systems, liquid flavor delivery systems, juice and dairy bases, chocolate systems, ice cream bases and variegates, the Company is a one-stop solutions provider for beverage and dairy product development needs. Additionally, this segment provides microencapsulation solutions to a variety of applications in food, pharmaceutical and nutritional ingredients to enhance performance of nutritional fortification, processing, mixing, and packaging applications and shelf-life. Major product applications are baked goods, refrigerated and frozen dough systems, processed meats, seasoning blends, confections, sports and protein bars, dietary plans, and nutritional supplements. The Company also creates cereal systems for ready-to-eat cereals, grain-based snacks, and cereal based ingredients. Through the Kappa and Bergstrom acquisitions, respectively, this segment recently began manufacturing specialty vitamin K2, which is a fast-growing specialty vitamin that plays a crucial role in the human body for bone health, heart health and immunity, and MSM, which is a widely used nutritional ingredient that helps provide benefits for joint health, sports nutrition, skin and beauty, and healthy aging. Animal Nutrition and Health The Company’s Animal Nutrition and Health ("ANH") segment provides nutritional products derived from its microencapsulation and chelation technologies in addition to the essential nutrient choline chloride. For ruminant animals, the Company’s microencapsulated products boost health and milk production by delivering nutrient supplements that are biologically available, providing required nutritional levels. The Company’s proprietary chelation technology provides enhanced nutrient absorption for various species of production and companion animals and is marketed for use in animal feed throughout the world. ANH also manufactures and supplies choline chloride, an essential nutrient for monogastric animal health, predominantly to the poultry, pet and swine industries. Choline, which is manufactured and sold in both dry and aqueous forms, plays a vital role in the metabolism of fat. In poultry, choline deficiency can result in reduced growth rates and perosis in young birds, while in swine production choline is a necessary and required component of gestating and lactating sow diets for both liver health and prevention of leg deformity. Through the Bergstrom acquisition, this segment recently began manufacturing MSM, which is a widely used nutritional ingredient that provides benefits for pet health. Sales of value-added encapsulated products are highly dependent on overall industry economics as well as the Company's ability to leverage the results of university and field research on the animal health and production benefits of our products. Management believes that success in the commodity-oriented choline chloride marketplace is highly dependent on the Company’s ability to maintain its strong reputation for excellent product quality and customer service. The Company continues to drive production efficiencies in order to maintain its competitive-cost position to effectively compete in a competitive global marketplace. Specialty Products The Company re-packages and distributes a number of performance gases and chemicals for various uses by its customers, notably ethylene oxide, propylene oxide, and ammonia. Ethylene oxide is sold as a sterilant gas, primarily for use in the health care industry. It is used to sterilize a wide range of medical devices because of its versatility and effectiveness in treating hard or soft surfaces, composites, metals, tubing and different types of plastics without negatively impacting the performance of the device being sterilized. Contract sterilizers and medical device manufacturers are principal customers for this product. Propylene oxide is marketed and sold as a fumigant to aid in the control of insects and microbiological spoilage; and to reduce bacterial and mold contamination in certain shelled and processed nut meats, processed spices, cacao beans, cocoa powder, raisins, figs and prunes, and for various chemical synthesis applications, such as increasing paint durability and manufacturing specialty starches and textile coatings Ammonia is used primarily as a refrigerant, and also for heat treatment of metals and various chemical synthesis applications, and is distributed in reusable and recyclable drum and cylinder packaging approved for use in the countries these products are shipped to. The Company’s performance gases and chemicals are distributed worldwide in specially designed, reusable and recyclable drum and cylinder packaging, to assure compliance with safety, quality and environmental standards as outlined by the applicable regulatory agencies in the countries our products are shipped to. The Company’s inventory of these specially built drums and cylinders, along with its five filling facilities, represents a significant capital investment. The Company also sells single use canisters for use in sterilizing re-usable devices typically processed in autoclave units in hospitals. The Company’s micronutrient agricultural nutrition business sells chelated minerals primarily to producers of high value crops. The Company has a unique and patented two-step approach to solving mineral deficiency in plants to optimize health, yield and shelf-life. First, the Company determines optimal mineral balance for plant health. The Company then has a foliar applied Metalosate ® product range, utilizing patented amino acid chelate technology. Its products quickly and efficiently deliver mineral nutrients. As a result, the farmer/grower gets healthier crops that are more resistant to disease and pests, larger yields and healthier food for the consumer with extended shelf life for produce being shipped long distances. The segment information is summarized as follows: Business Segment Assets June 30, December 31, Human Nutrition and Health $ 1,173,567 $ 1,170,238 Animal Nutrition and Health 176,015 175,972 Specialty Products 176,258 177,187 Other and Unallocated (1) 93,391 101,115 Total $ 1,619,231 $ 1,624,512 Business Segment Net Sales Three Months Ended Six Months Ended 2023 2022 2023 2022 Human Nutrition and Health $ 135,669 $ 131,628 $ 268,322 $ 254,073 Animal Nutrition and Health 61,329 62,600 126,218 131,942 Specialty Products 32,726 36,647 64,957 69,981 Other and Unallocated (2) 1,528 5,818 4,295 9,564 Total $ 231,252 $ 236,693 $ 463,792 $ 465,560 Business Segment Earnings Before Income Taxes Three Months Ended Six Months Ended 2023 2022 2023 2022 Human Nutrition and Health $ 27,499 $ 23,705 $ 45,934 $ 44,008 Animal Nutrition and Health 7,662 7,586 17,160 18,907 Specialty Products 9,298 9,919 17,244 17,680 Other and Unallocated (2) (1,623) (1,290) (3,094) (2,339) Interest and other expense (4,436) (662) (9,725) (1,368) Total $ 38,400 $ 39,258 $ 67,519 $ 76,888 Depreciation/Amortization Three Months Ended Six Months Ended 2023 2022 2023 2022 Human Nutrition and Health $ 9,265 $ 7,392 $ 18,927 $ 14,747 Animal Nutrition and Health 2,123 1,668 3,768 3,329 Specialty Products 1,811 1,899 3,609 3,831 Other and Unallocated (2) 229 974 770 1,954 Total $ 13,428 $ 11,933 $ 27,074 $ 23,861 Capital Expenditures Six Months Ended June 30, 2023 2022 Human Nutrition and Health $ 13,785 $ 11,006 Animal Nutrition and Health 2,130 6,559 Specialty Products 1,447 2,206 Other and Unallocated (2) 151 338 Total $ 17,513 $ 20,109 (1) Other and Unallocated assets consist of certain cash, capitalized loan issuance costs, other assets, investments, and income taxes, which the Company does not allocate to its individual business segments. It also includes assets associated with a few minor businesses which individually do not meet the quantitative thresholds for separate presentation. (2) Other and Unallocated consists of a few minor businesses which individually do not meet the quantitative thresholds for separate presentation and corporate expenses that have not been allocated to a segment. Unallocated corporate expenses consist of: (i) Transaction and integration costs and unallocated legal fee s totaling $651 and $1,216 for th e three and six months ended June 30, 2023, respectively, and $872 and $1,176 for the three and six months ended June 30, 2022, respectively, and (ii) Unallocated amortization expense of $0 and $312 for the three and six months ended June 30, 2023, and $741 and $1,479 for the three and six months ended June 30, 2022, respectively, related to an intangible asset in connection with a company-wide ERP system implementation.

REVENUE

REVENUE	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Revenue Recognition Revenues are recognized when control of the promised goods is transferred to customers, in an amount that reflects the consideration the Company expects to realize in exchange for those goods. The following table presents revenues disaggregated by revenue source. Sales and usage-based taxes are excluded from revenues. Three Months Ended Six Months Ended 2023 2022 2023 2022 Product Sales $ 219,567 $ 225,260 $ 442,740 $ 443,313 Co-manufacturing 7,475 9,819 14,520 18,126 Consignment 3,431 989 4,973 2,580 Product Sales Revenue 230,473 236,068 462,233 464,019 Royalty Revenue 779 625 1,559 1,541 Total Revenue $ 231,252 $ 236,693 $ 463,792 $ 465,560 The following table presents revenues disaggregated by geography, based on the shipping addresses of customers: Three Months Ended Six Months Ended 2023 2022 2023 2022 United States $ 171,450 $ 169,076 $ 338,334 $ 343,567 Foreign Countries 59,802 67,617 125,458 121,993 Total Revenue $ 231,252 $ 236,693 $ 463,792 $ 465,560 Product Sales Revenues The Company’s primary operation is the manufacturing and sale of health and nutrition ingredient products, in which the Company receives an order from a customer and fulfills that order. The Company’s product sales are considered point-in-time revenue and consist of three sub-streams: product sales, co-manufacturing, and consignment. Under the co-manufacturing agreements, the Company is responsible for the manufacture of a finished good where the customer provides the majority of the raw materials. The Company controls the manufacturing process and the ultimate end-product before it is shipped to the customer. Based on these factors, the Company has determined that it is the principal in these agreements and therefore revenue is recognized in the gross amount of consideration the Company expects to be entitled to for the goods provided. Royalty Revenues Royalty revenue consists of agreements with customers to use the Company’s intellectual property in exchange for a sales-based royalty. Royalties are considered over time revenue and are recorded in the HNH segment. Contract Liabilities The Company records contract liabilities when cash payments are received or due in advance of performance, including amounts which are refundable. The Company’s payment terms vary by the type and location of customers and the products offered. The term between invoicing and when payment is due is not significant. For certain products or services and customer types, the Company requires payment before the products are delivered to the customer. Practical Expedients and Exemptions The Company generally expenses sales commissions when incurred because the amortization period would have been one year or less. These costs are recorded within selling and marketing expenses. The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which the Company recognizes revenue at the amount to which it has the right to invoice for products shipped.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	6 Months Ended
	Jun. 30, 2023
Supplemental Cash Flow Information [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION Cash paid during the six months ended June 30, 2023 and 2022 for income taxes and interest is as follows: Six Months Ended June 30, 2023 2022 Income taxes $ 20,471 $ 18,598 Interest $ 13,454 $ 1,960

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	6 Months Ended
	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME The changes in accumulated other comprehensive (loss) income were as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 Net foreign currency translation adjustment $ (1,116) $ (6,951) $ 8,308 $ (9,793) Net change of cash flow hedge (see Note 20 for further information) Unrealized (loss) gain on cash flow hedge (730) 1,122 (1,406) 3,206 Tax 176 (272) 341 (783) Net of tax (554) 850 (1,065) 2,423 Net change in postretirement benefit plan (see Note 15 for further information) Amortization of prior service cost — 2 — 4 Amortization of loss 2 — 4 — Gain arising during the period and prior service credit — (9) 132 (41) Total before tax 2 (7) 136 (37) Tax — (27) (34) (24) Net of tax 2 (34) 102 (61) Total other comprehensive income (loss) $ (1,668) $ (6,135) $ 7,345 $ (7,431) Included in "Net foreign currency translation adjustment" were losses of $434 and $1,455 related to a net investment hedge, which were net of tax benefit of $782 and $1,114 for the three and six months ended June 30, 2023, respectively. Included in "Net foreign currency translation adjustment" were gains of $3,963 and $5,086 related to a net investment hedge, which were net of tax expense of $1,309 and $1,642 for the three and six months ended June 30, 2022, respectively. The Company settled its derivative instruments on their maturity date of June 27, 2023. See Note 20, Derivative Instruments and Hedging Activities . Accumulated other comprehensive (loss) income at June 30, 2023 and December 31, 2022 consisted of the following: Foreign currency Cash flow hedge Postretirement Total Balance December 31, 2022 $ (8,401) $ 1,065 $ 182 $ (7,154) Other comprehensive income (loss) 8,308 (1,065) 102 7,345 Balance June 30, 2023 $ (93) $ — $ 284 $ 191

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	6 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS Defined Contribution Plans The Company sponsored two 401(k) savings plans for eligible employees, which were merged into one plan on January 1, 2021. The remaining plan allows participants to make pretax contributions and the Company matches certain percentages of those pretax contributions. The remaining plan also has a discretionary profit sharing portion and matches 401(k) contributions with shares of the Company’s Common Stock. All amounts contributed to the plan are deposited into a trust fund administered by independent trustees. On June 21, 2022, the Company completed the acquisition of Kappa, which sponsors one defined contribution plan for its employees. In addition, on August 30, 2022, the Company completed the acquisition of Bergstrom, which sponsored one defined contribution plan for its employees. The Bergstrom plan was merged into the Company sponsored 401(k) savings plan on January 1, 2023. Postretirement Medical Plans The Company provides postretirement benefits in the form of two unfunded postretirement medical plans; one that is under a collective bargaining agreement and covers eligible retired employees of the Verona facility and one for officers of the Company pursuant to the Balchem Corporation Officer Retiree Program. Net periodic benefit costs for such retirement medical plans were as follows: Six Months Ended June 30, 2023 2022 Service cost $ 54 $ 39 Interest cost 31 13 Amortization of prior service cost — 4 Amortization of loss 4 — Net periodic benefit cost $ 85 $ 56 T he amounts recorded for these obligations on the Company’s condensed consolidated balance sheets as of June 30, 2023 and December 31, 2022 are $1,419 and $1,465, respectively, and are included in "Other long-term obligations." These plans are unfunded and approved claims are paid from Company funds. Historical cash payments made under such plans have typically been less than $200 per year. Defined Benefit Pension Plans On May 27, 2019, the Company acquired Chemogas, which has an unfunded defined benefit pension plan. The plan provides for the payment of a lump sum at retirement or payments in case of death of the covered employees. The amounts recorded for these obligations on the Company's condensed consolidated balance sheets as of June 30, 2023 and December 31, 2022 were $392 and $393, respectively, and were included in "Other long-term obligations". Net periodic benefit costs for such benefit pensions plans were as follows: Six Months Ended June 30, 2023 2022 Service cost with interest to end of year $ 32 $ 29 Interest cost 32 12 Expected return on plan assets (21) (25) Total net periodic benefit cost $ 43 $ 16 Deferred Compensation Plan The Company provides an unfunded, nonqualified deferred compensation plan maintained for the benefit of a select group of management or highly compensated employees. Assets of the plan are held in a rabbi trust, and are subject to additional risk of loss in the event of bankruptcy or insolvency of the Company. The deferred compensation liability was $9,634 as of June 30, 2023, of which $9,618 was included in "Other long-term obligations" and $16 was in cluded in "Accrued compensation and other benefits" on the Company's condensed consolidated balance sheets. The deferred compensation liability was $8,543 as of December 31, 2022, of which $8,527 was included in "Other long-term obligations" and $16 was included in "Accrued compensation and other benefits" on the Company’s condensed consolidated balance sheets. The related rabbi trust assets were $9,635

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company is obligated to make rental payments under non-cancelable operating and finance leases. Aggregate future minimum rental payments required under these leases at June 30, 2023 are disclosed in Note 19, Leases. The Company’s Verona, Missouri facility, while held by a prior owner, was designated by the U.S. Environmental Protection Agency (the "EPA") as a Superfund site and placed on the National Priorities List in 1983 because of dioxin contamination on portions of the site. Remediation was conducted by the prior owner under the oversight of the EPA and the Missouri Department of Natural Resources. While the Company must maintain the integrity of the capped areas in the remediation areas on the site, the prior owner is responsible for completion of any further Superfund remedy. The Company is indemnified by the sellers under its May 2001 asset purchase agreement covering its acquisition of the Verona, Missouri facility for potential liabilities associated with the Superfund site, and one of the sellers, in turn, has the benefit of certain contractual indemnification by the prior owner that executed the above-described Superfund remedy. In February 2022, BCP Ingredients, Inc. ("BCP"), the Company's subsidiary that operates the site, received a Special Notice Letter from the EPA for the performance of a focused remedial investigation/feasibility study ("RI/FS") at the site with regard to the presence of certain contaminants, including 1,4 dioxane. BCP, along with the prior owner of the Verona facility, submitted a joint response to the notice in November 2022. Separately, in June 2022, the EPA conducted an inspection of BCP’s Verona, Missouri facility which was followed by BCP entering into an Administrative Order for Compliance on Consent (“AOC”) with the EPA in relation to its risk management program at the Verona facility. Further, on January 18, 2023, BCP entered into an Amended AOC with the EPA whereby the parties agreed to the extension of certain timelines. BCP has timely completed all requirements under the Amended AOC as of June 30, 2023. In connection with the EPA’s inspection from June 2022, the Company believes that a loss in this matter is probable and reasonably estimable and has recorded a loss contingency in an amount that is not material to its financial performance or operations. From time to time, the Company is a party to various legal proceedings, litigation, claims and assessments. Management believes that the ultimate outcome of such matters will not have a material effect on the Company's consolidated financial position, results of operations, or liquidity.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS The Company has a number of financial instruments, none of which are held for trading purposes. The Company estimates that the fair value of all financial instruments at June 30, 2023 and December 31, 2022 does not differ materially from the aggregate carrying values of its financial instruments recorded in the accompanying condensed consolidated balance sheets. The estimated fair value amounts have been determined by the Company using available market information and appropriate valuation methodologies. Considerable judgment is necessarily required in interpreting market data to develop the estimates of fair value, and, accordingly, the estimates are not necessarily indicative of the amounts that the Company could realize in a current market exchange. The carrying value of debt approximates fair value as the interest rate is based on market and the Company’s consolidated leverage ratio. The Company’s financial instruments also include cash equivalents, accounts receivable, accounts payable, and accrued liabilities, which are carried at cost and approximate fair value due to the short-term maturity of these instruments. Cash and cash equivalents at June 30, 2023 and December 31, 2022 includes $31,421 and $934 in money market funds and other interest-bearing deposit accounts, respectively. Non-current assets at June 30, 2023 and December 31, 2022 includes $9,635 and $8,547, respectively, of rabbi trust funds related to the Company's deferred compensation plan. The money market and rabbi trust funds are valued using level one inputs, as defined by ASC 820, “Fair Value Measurement.” The contingent consideration liabilities included on the balance sheet as of June 30, 2023 and December 31, 2022 amount to $5,000 and $11,400, respectively, and were valued using level three inputs, as defined by ASC 820, "Fair Value Measurement". The Company also had derivative financial instruments, consisting of a cross-currency swap and an interest rate swap, which were included in "Derivative assets" or "Derivative liabilities" in the Company's condensed consolidated balance sheets (see Note 20, Derivative Instruments and Hedging Activities

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The Company provides services under a contractual agreement to St. Gabriel CC Company, LLC. These services include accounting, information technology, quality control, and purchasing services, as well as operation of the St. Gabriel CC Company, LLC plant. The Company also sells raw materials to St. Gabriel CC Company, LLC. These raw materials are used in the production of finished goods that are, in turn, sold by Saint Gabriel CC Company, LLC to the Company for resale to unrelated parties. As such, the sale of these raw materials to St. Gabriel CC Company, LLC in this scenario lacks economic substance and therefore the Company does not include them in net sales within the condensed consolidated statements of earnings. Payments for the services the Company provided amounted to $1,028 and $2,200 for the three and six months ended June 30, 2023, respectively and $1,022 and $1,997 for the three and six months ended June 30, 2022, respectively. The raw materials purchased and subsequently sold amounted to $9,782 and $19,795 for the three and six months ended June 30, 2023, respectively, and $10,910 and $20,221 for the three and six months ended June 30, 2022, respectively. These services and raw materials are primarily recorded in cost of goods sold, net of the finished goods received from St. Gabriel CC Company, LLC o f $8,223 and $16,295 during t he three and six months ended June 30, 2023, respectively, and $8,233 and $14,722 for the three and six months ended June 30, 2022, respectively. At June 30, 2023 and December 31, 2022, the Company had receivables of $6,615 and $8,820, respectively, recorded in accounts receivable from St. Gabriel CC Company, LLC for services rendered and raw materials sold. At June 30, 2023 and December 31, 2022, the Company had payables of $4,907 and $5,224, respectively, recorded in accounts payable for finished goods received from St. Gabriel CC Company, LLC. The Company had payables in the amount of $296 related to non-contractual monies owed to St. Gabriel CC Company, LLC, recorded in accounts payable at both June 30, 2023

LEASES

LEASES	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
LEASES	LEASES The Company has both real estate leases and equipment leases. The main types of equipment leases include forklifts, trailers, printers and copiers, railcars, and trucks. Leases are categorized as both operating leases and finance leases. As a result of electing the practical expedient within ASU 2016-02, variable lease payments are combined and recognized on the balance sheet in the event that those charges and any related increases are explicitly stated in the lease. Such payments include common area maintenance charges, property taxes, and insurance charges and are recorded in the right of use asset and corresponding liability when the payments are stated in the lease with (a) fixed or in-substance fixed amounts, or (b) a variable payment based on an index or rate. Due to the acquisitive nature of the Company and the potential for synergies upon integration of acquired entities, the Company determined that the reasonably certain criterion could not be met for any renewal periods beginning two years from June 30, 2023. In addition, the Company has historically not been exercising purchase options under the equipment leases as it does not make economic sense to buy the equipment. Instead, the Company has historically replaced the equipment with new leases. Therefore, the Company determined that the reasonably certain criterion could not be met as it relates to purchase options. The Company has no residual value guarantees in lease transactions. On June 22, 2022, the Company signed a ten-year real estate sublease for approximately 40,000 square feet of office space, which will serve as the Company's corporate headquarters and a laboratory facility. The sublease commenced in the fourth quarter of 2022 and the Company recognized a right of use asset and lease liability as of the commencement date in accordance with ASC 842, Lease Accounting. The Company has not identified any embedded leases. As indicated above, the Company elected the practical expedient to combine lease and non-lease components and recognizes the combined amount on the condensed consolidated balance sheet. Management determined that since the Company has a centralized treasury function, the parent company would either fund or guarantee a subsidiary's loan for borrowing over a similar term. As such, the Company's management determined it is appropriate to utilize a corporate based borrowing rate for all locations. The Company developed four tranches of leases based on lease terms and these tranches reflect the composition of the current lease portfolio. The Company's borrowing history shows that interest rates of a term loan or a line of credit depend on the duration of the loan rather than the nature of the assets purchased by those funds. Based on this understanding, the Company elected to use a portfolio approach to discount rates, applying corporate rates to the tranches of leases based on lease terms. Based on the Company's risk rating, the Company applied the following discount rates for new leases entered into during the second quarter of 2023: (1) 1-2 years, 6.24% (2) 3-4 years, 6.83% (3) 5-9 years, 7.17% and (4) 10+ years, 7.89%. At June 30, 2023 and December 31, 2022, the Company had finance lease liabilities of $2,329 and $2,439, respectively, which were recorded under "Lease liabilities" (current and non-current) on the condensed consolidated balance sheets. Right of use assets and lease liabilities at June 30, 2023 and December 31, 2022 are summarized as follows: Right of use assets June 30, 2023 December 31, 2022 Operating leases $ 16,119 $ 17,094 Finance leases 2,221 2,338 Total $ 18,340 $ 19,432 Lease liabilities - current June 30, 2023 December 31, 2022 Operating leases $ 3,859 $ 3,796 Finance leases 232 226 Total $ 4,091 $ 4,022 Lease liabilities - non-current June 30, 2023 December 31, 2022 Operating leases $ 13,088 $ 13,806 Finance leases 2,097 2,213 Total $ 15,185 $ 16,019 For the three and six months ended June 30, 2023 and 2022, the Company's total lease costs were as follows, which included amounts recognized in earnings, amounts capitalized on the balance sheets, and the cash flows arising from lease transactions: Three Months Ended Six Months Ended 2023 2022 2023 2022 Lease Cost Operating lease cost $ 1,376 $ 811 $ 2,646 $ 1,592 Finance lease cost Amortization of ROU asset 60 52 120 104 Interest on lease liabilities 29 30 58 61 Total finance lease 89 82 178 165 Total lease cost $ 1,465 $ 893 $ 2,824 $ 1,757 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 1,151 $ 807 $ 2,209 $ 1,608 Operating cash flows from finance leases 29 30 58 61 Financing cash flows from finance leases 55 42 110 83 $ 1,235 $ 879 $ 2,377 $ 1,752 Right-of-use assets obtained in exchange for new operating lease liabilities, net of right-of-use assets disposed $ 2,148 $ 4,615 $ 2,605 $ 5,277 Weighted-average remaining lease term - operating leases 5.41 years 4.10 years 5.41 years 4.10 years Weighted-average remaining lease term - finance leases 9.51 years 10.91 years 9.51 years 10.91 years Weighted-average discount rate - operating leases 4.1 % 3.2 % 4.1 % 3.2 % Weighted-average discount rate - finance leases 5.0 % 5.1 % 5.0 % 5.1 % Rent expense charged to operations under operating lease agreements for the three and six months ended June 30, 2023 aggregated to approximately $1,376 and $2,646, respectively, and $811 and $1,592 for the three and six months ended June 30, 2022, respectively. Aggregate future minimum rental payments required under all non-cancelable operating and finance leases at June 30, 2023 are as follows: Year July 1, 2023 to December 31, 2023 $ 3,016 2024 4,771 2025 3,739 2026 3,225 2027 2,758 2028 2,273 Thereafter 4,851 Total minimum lease payments $ 24,633
LEASES	LEASES The Company has both real estate leases and equipment leases. The main types of equipment leases include forklifts, trailers, printers and copiers, railcars, and trucks. Leases are categorized as both operating leases and finance leases. As a result of electing the practical expedient within ASU 2016-02, variable lease payments are combined and recognized on the balance sheet in the event that those charges and any related increases are explicitly stated in the lease. Such payments include common area maintenance charges, property taxes, and insurance charges and are recorded in the right of use asset and corresponding liability when the payments are stated in the lease with (a) fixed or in-substance fixed amounts, or (b) a variable payment based on an index or rate. Due to the acquisitive nature of the Company and the potential for synergies upon integration of acquired entities, the Company determined that the reasonably certain criterion could not be met for any renewal periods beginning two years from June 30, 2023. In addition, the Company has historically not been exercising purchase options under the equipment leases as it does not make economic sense to buy the equipment. Instead, the Company has historically replaced the equipment with new leases. Therefore, the Company determined that the reasonably certain criterion could not be met as it relates to purchase options. The Company has no residual value guarantees in lease transactions. On June 22, 2022, the Company signed a ten-year real estate sublease for approximately 40,000 square feet of office space, which will serve as the Company's corporate headquarters and a laboratory facility. The sublease commenced in the fourth quarter of 2022 and the Company recognized a right of use asset and lease liability as of the commencement date in accordance with ASC 842, Lease Accounting. The Company has not identified any embedded leases. As indicated above, the Company elected the practical expedient to combine lease and non-lease components and recognizes the combined amount on the condensed consolidated balance sheet. Management determined that since the Company has a centralized treasury function, the parent company would either fund or guarantee a subsidiary's loan for borrowing over a similar term. As such, the Company's management determined it is appropriate to utilize a corporate based borrowing rate for all locations. The Company developed four tranches of leases based on lease terms and these tranches reflect the composition of the current lease portfolio. The Company's borrowing history shows that interest rates of a term loan or a line of credit depend on the duration of the loan rather than the nature of the assets purchased by those funds. Based on this understanding, the Company elected to use a portfolio approach to discount rates, applying corporate rates to the tranches of leases based on lease terms. Based on the Company's risk rating, the Company applied the following discount rates for new leases entered into during the second quarter of 2023: (1) 1-2 years, 6.24% (2) 3-4 years, 6.83% (3) 5-9 years, 7.17% and (4) 10+ years, 7.89%. At June 30, 2023 and December 31, 2022, the Company had finance lease liabilities of $2,329 and $2,439, respectively, which were recorded under "Lease liabilities" (current and non-current) on the condensed consolidated balance sheets. Right of use assets and lease liabilities at June 30, 2023 and December 31, 2022 are summarized as follows: Right of use assets June 30, 2023 December 31, 2022 Operating leases $ 16,119 $ 17,094 Finance leases 2,221 2,338 Total $ 18,340 $ 19,432 Lease liabilities - current June 30, 2023 December 31, 2022 Operating leases $ 3,859 $ 3,796 Finance leases 232 226 Total $ 4,091 $ 4,022 Lease liabilities - non-current June 30, 2023 December 31, 2022 Operating leases $ 13,088 $ 13,806 Finance leases 2,097 2,213 Total $ 15,185 $ 16,019 For the three and six months ended June 30, 2023 and 2022, the Company's total lease costs were as follows, which included amounts recognized in earnings, amounts capitalized on the balance sheets, and the cash flows arising from lease transactions: Three Months Ended Six Months Ended 2023 2022 2023 2022 Lease Cost Operating lease cost $ 1,376 $ 811 $ 2,646 $ 1,592 Finance lease cost Amortization of ROU asset 60 52 120 104 Interest on lease liabilities 29 30 58 61 Total finance lease 89 82 178 165 Total lease cost $ 1,465 $ 893 $ 2,824 $ 1,757 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 1,151 $ 807 $ 2,209 $ 1,608 Operating cash flows from finance leases 29 30 58 61 Financing cash flows from finance leases 55 42 110 83 $ 1,235 $ 879 $ 2,377 $ 1,752 Right-of-use assets obtained in exchange for new operating lease liabilities, net of right-of-use assets disposed $ 2,148 $ 4,615 $ 2,605 $ 5,277 Weighted-average remaining lease term - operating leases 5.41 years 4.10 years 5.41 years 4.10 years Weighted-average remaining lease term - finance leases 9.51 years 10.91 years 9.51 years 10.91 years Weighted-average discount rate - operating leases 4.1 % 3.2 % 4.1 % 3.2 % Weighted-average discount rate - finance leases 5.0 % 5.1 % 5.0 % 5.1 % Rent expense charged to operations under operating lease agreements for the three and six months ended June 30, 2023 aggregated to approximately $1,376 and $2,646, respectively, and $811 and $1,592 for the three and six months ended June 30, 2022, respectively. Aggregate future minimum rental payments required under all non-cancelable operating and finance leases at June 30, 2023 are as follows: Year July 1, 2023 to December 31, 2023 $ 3,016 2024 4,771 2025 3,739 2026 3,225 2027 2,758 2028 2,273 Thereafter 4,851 Total minimum lease payments $ 24,633

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES The Company is exposed to market fluctuations in interest rates as well as variability in foreign exchange rates. In May 2019, the Company entered into an interest rate swap (cash flow hedge) with JP Morgan Chase, N.A. (the "Swap Counterparty") and a cross-currency swap (net investment hedge) with JP Morgan Chase, N.A. (the "Bank Counterparty"). The Company's primary objective for holding derivative financial instruments was to manage interest rate risk and foreign currency risk. On May 28, 2019, the Company entered into a pay-fixed (2.05%), receive-floating interest rate swap with a notional amount of $108,569 and a maturity date of June 27, 2023. The receive-floating interest rate was based on the London Interbank Offered Rate ("LIBOR") in the original trade agreement. Due to the discontinuation of LIBOR, the Company modified its existing interest rate swap to reference 1-month CME Term SOFR (CME Group Benchmark Administration Limited as administrator of the forward-looking term Secured Overnight Financing Rate) in the amended trade terms in the third quarter of 2022. This modification was made under the relief provided for in ASC 848, "Reference Rate Reform" and therefore the derivative continued to qualify for hedge accounting. The Company's risk management objective and strategy with respect to the interest rate swap was to protect the Company against adverse fluctuations in interest rates by reducing its exposure to variability in cash flows relating to interest payments on a portion of its outstanding debt. The Company met its objective since changes in the cash flows of the interest rate offset the changes in the cash flows attributable to fluctuations in the contractually specified interest rate on the interest payments associated with the 2022 Credit Agreement. The net interest income related to the interest rate swap contract was $834 and $1,518 for the three and six months ended June 30, 2023, respectively, and the net interest expense related to the interest rate swap contract was $364 and $877 for the three and six months ended June 30, 2022, respectively. The net interest income and expense were recorded in the condensed consolidated statements of earnings under "Interest expense, net." On May 28, 2019, the Company also entered into a pay-fixed (0.00%), receive-fixed (2.05%) cross-currency swap to manage foreign exchange risk related to the Company's net investment in Chemogas. The derivative had a notional amount of $108,569, an effective date of May 28, 2019, and a maturity date of June 27, 2023. The interest income related to the cross-currency swap contract was $569 and $1,119 for the three and six months ended June 30, 2023, respectively, and $563 and $1,113 for the three and six months ended June 30, 2022, respectively. The net interest income was recorded in the condensed consolidated statements of earnings under "Interest expense, net." The derivative instruments were with a single counterparty and were subject to a contractual agreement that provided for the net settlement of all contracts through a single payment in a single currency in the event of default on or termination of any one contract. As such, the derivative instruments were categorized as a master netting arrangement and presented as a net "Derivative asset" or "Derivative liability" on the condensed consolidated balance sheets. The Company settled its derivative instruments on their maturity date of June 27, 2023 and had no other derivatives outstanding as of June 30, 2023. The proceeds from the settlement of the cross-currency swap in the amount of $2,740 were classified as investing activities in the Consolidated Statements of Cash Flows. As of December 31, 2022, the fair value of the derivative instruments is presented as follows in the Company's condensed consolidated balance sheets: Derivative assets December 31, 2022 Interest rate swap $ 1,406 Cross-currency swap 4,587 Derivative assets $ 5,993 On a quarterly basis, the Company assessed whether the hedging relationship related to the interest rate swap was highly effective at achieving offsetting changes in cash flow attributable to the risk being hedged based on the following factors: (1) the key features and terms as enumerated above for the interest rate swap and hedged transactions matched during the period (2) it was probable that the Swap Counterparty would not default on its obligations under the swap, and (3) the Company performed a qualitative review each quarter to assess whether the relationship qualified for hedge accounting. In addition, on a quarterly basis the Company assessed whether the hedging relationship related to the cross-currency swap was highly effective based on the following evaluations: (1) the Company would always have a sufficient amount of non-functional currency (EUR) net investment balance to at least meet the cross-currency notional amount until the maturity date of the hedge (2) it was probable that the Swap Counterparty would not default on its obligations under the swap, and (3) the Company performed a qualitative review each quarter to assess whether the relationship qualified for hedge accounting. No mismatches arose for either the interest rate swap or cross-currency swap; the hedged transactions were determined to be highly effective; hedge accounting continued through the settlement date; and all changes in fair values of the derivative instruments were recorded in accumulated other comprehensive income through June 30, 2023. Losses and gains on our hedging instruments were recognized in accumulated other comprehensive income (loss) and categorized as follows for the three and six months ended June 30, 2023 and 2022: Location within Statements of Comprehensive Income Three Months Ended Six Months Ended 2023 2022 2023 2022 Cash flow hedge (interest rate swap), net of tax Unrealized (loss) gain on cash flow hedge, net $ (554) $ 850 $ (1,065) $ 2,423 Net investment hedge (cross-currency swap), net of tax Net foreign currency translation adjustment (434) 3,963 (1,455) 5,086 Total $ (988) $ 4,813 $ (2,520) $ 7,509 On June 21, 2022, the Company completed the acquisition of Kappa (as defined in Note 2, Significant Acquisitions ). In the process of acquiring Kappa, the Company entered into four short-term foreign currency exchange forward contracts with JP Morgan Chase, N.A. to manage fluctuations in foreign currency exchange rates related to the acquisition. The Company did not designate these contracts as hedged transactions under the applicable sections of ASC Topic 815, "Derivatives and Hedging". For the six months ended June 30, 2022, the net gains on these forward contracts of $512 were recorded in other income or loss in the condensed consolidated statements of earnings. As of June 30, 2023, the Company did not maintain any open foreign currency exchange forward contracts as all four contracts expired before June 30, 2022. The following table summarizes the key terms of the four forward exchange contracts: Date entered into Date expired on Balchem to sell Balchem to buy June 15, 2022 June 21, 2022 USD 294,555 NOK 2,924,553 June 15, 2022 June 17, 2022 USD 6,436 EUR 6,180 June 15, 2022 June 21, 2022 USD 16,640 EUR 15,972 June 15, 2022 June 21, 2022 EUR 15,972 NOK 165,210

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net earnings	$ 30,110	$ 22,710	$ 29,782	$ 28,930	$ 52,820	$ 58,712

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

CONDENSED CONSOLIDATED FINANC_2

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Policies)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recent Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In March 2020, the FASB issued Accounting Standards Update ("ASU") 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting." This ASU provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. The guidance provides optional expedients and exceptions for applying GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. The ASU is intended to help stakeholders during the global market-wide reference rate transition period. Therefore, this Standard Update is in effect from March 12, 2020 through December 31, 2022. In January 2021, the FASB issued ASU 2021-01, "Reference Rate Reform (Topic 848): Scope." ASU 2021-01 clarifies that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. The ASU also amends the expedients and exceptions in Topic 848 to capture the incremental consequences of the scope clarification and to tailor the existing guidance to derivative instruments affected by the discounting transition. In December 2022, the FASB issued ASU 2022-06, "Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848." The amendments in this Update defer the sunset date of Topic 848 from December 31, 2022 to December 31, 2024 as the UK Financial Conduct Authority ("FCA") announced that the intended cessation date would be June 30, 2023, which is beyond the current sunset date of Topic 848. The Company adopted the Standard Update in 2021. Due to the discontinuation of LIBOR and under the relief provided by Topic 848, during the third quarter of 2022, the Company modified its existing interest rate swap and replaced LIBOR with 1-month CME Term SOFR (see Note 20, Derivative Instruments and Hedging Activities ). The modification of the agreement did not have a significant impact on the Company's consolidated financial statements and disclosures.

SIGNIFICANT ACQUISITIONS (Table

SIGNIFICANT ACQUISITIONS (Tables)	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Estimated Fair Value of Assets Acquired and Liabilities Assumed	The following table summarizes the fair values of the assets acquired and liabilities assumed: Cash and cash equivalents $ 773 Accounts receivable 4,699 Inventories 3,972 Property, plant and equipment 2,243 Right of use assets 866 Customer relationships 29,900 Developed technology 4,600 Trademarks 2,300 Other assets 197 Accounts payable (699) Bank debt (206) Lease liabilities (871) Other liabilities (462) Goodwill 31,550 Total consideration on acquisition date and working capital adjustment 78,862 Net decrease to contingent consideration liability (2,835) Total expected consideration 76,027 To pay off bank debt 206 Total expected payments $ 76,233 The following table summarizes the estimated fair values of the assets acquired and liabilities assumed. The transactions were completed in Norwegian kroner ("NOK") and the amounts were translated to U.S. dollars ("USD") using the foreign currency exchange rate as of June 21, 2022. Cash and cash equivalents $ 6,365 Accounts receivable 8,036 Inventories 17,600 Property, plant and equipment 9,854 Right of use assets 3,349 Customer relationships 88,813 Developed technology 15,643 Trademarks 5,046 Other assets 2,399 Accounts payable (3,301) Bank debt (30,648) Lease liabilities (3,349) Other liabilities (4,461) Deferred income taxes, net (24,716) Goodwill 216,383 Total consideration on acquisition date 307,013 Decrease to contingent consideration liability (4,037) Net gain on foreign currency exchange forward contracts (512) Total expected consideration 302,464 Kappa bank debt paid on acquisition date 30,648 Total expected payments $ 333,112
Schedule of Unaudited Pro Forma Information	The following selected unaudited pro forma information presents the consolidated results of operations as if the business combinations in 2022 had occurred as of January 1, 2021. Three Months Ended June 30, Six Months Ended June 30, Net Sales Net Earnings Net Sales Net (Loss)/Earnings Kappa & Bergstrom actual results included in the Company's consolidated income statement in three and six months ended June 30, 2023 $ 13,615 $ 1,094 $ 27,745 $ (1,215) 2023 Supplemental pro forma combined financial $ 231,252 $ 31,890 $ 463,792 $ 57,218 2022 Supplemental pro forma combined financial $ 254,507 $ 30,005 $ 501,875 $ 59,444

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Schedule of Compensation Cost on Net Earnings	The Company’s results for the three and six months ended June 30, 2023 and 2022 reflected the following stock-based compensation cost, and such compensation cost had the following effects on net earnings: Increase/(Decrease) for the Increase/(Decrease) for the Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Cost of sales $ 545 $ 277 $ 959 $ 676 Operating expenses 3,203 3,535 7,559 6,213 Net earnings (2,881) (2,933) (6,563) (5,312)
Schedule of Stock Option Activity	Option activity for the six months ended June 30, 2023 and 2022 is summarized below: For the Six Months Ended June 30, 2023 Shares (000s) Weighted Aggregate Weighted Outstanding as of December 31, 2022 1,045 $ 99.82 $ 27,221 Granted 109 138.09 Exercised (46) 83.43 Forfeited (11) 131.79 Canceled (1) 138.07 Outstanding as of June 30, 2023 1,096 $ 103.96 $ 35,430 6.2 Exercisable as of June 30, 2023 728 $ 87.95 $ 34,170 4.8 For the Six Months Ended June 30, 2022 Shares (000s) Weighted Aggregate Weighted Outstanding as of December 31, 2021 867 $ 88.19 $ 69,711 Granted 109 138.07 Exercised (18) 72.74 Forfeited (6) 120.36 Canceled — — Outstanding as of June 30, 2022 952 $ 93.99 $ 34,907 6.4 Exercisable as of June 30, 2022 666 $ 81.11 $ 32,409 5.4
Schedule of Other Information Pertaining to Stock Option Activity	Other information pertaining to option activity during the three and six months ended June 30, 2023 and 2022 is as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 Weighted-average fair value of options granted $ — $ — $ 40.91 $ 40.26 Total intrinsic value of stock options exercised ($000s) $ 597 $ 495 $ 2,181 $ 1,149
Schedule of Non-vested Restricted Stock Activity	Non-vested restricted stock activity for the six months ended June 30, 2023 and 2022 is summarized below: Six Months Ended June 30, 2023 2022 Shares (000s) Weighted Shares (000s) Weighted Non-vested balance as of December 31 122 $ 124.42 166 $ 99.70 Granted 39 137.48 34 137.74 Vested (32) 110.95 (77) 80.84 Forfeited (4) 128.06 (3) 116.73 Non-vested balance as of June 30 125 $ 131.76 120 $ 122.03
Schedule of Non-vested Performance Share Activity	Non-vested performance share activity for the six months ended June 30, 2023 and 2022 is summarized below: Six Months Ended June 30, 2023 2022 Shares (000s) Weighted Shares (000s) Weighted Non-vested balance as of December 31 70 $ 127.69 69 $ 110.72 Granted 42 139.66 39 114.22 Vested (36) 98.84 (35) 53.17 Forfeited — — (3) 84.09 Non-vested balance as of June 30 76 $ 135.25 70 $ 127.69

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories, net of reserves at June 30, 2023 and December 31, 2022 consisted of the following: June 30, 2023 December 31, 2022 Raw materials $ 39,780 $ 44,477 Work in progress 9,604 3,143 Finished goods 75,565 72,048 Total inventories $ 124,949 $ 119,668

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment at June 30, 2023 and December 31, 2022 are summarized as follows: June 30, 2023 December 31, 2022 Land $ 11,901 $ 11,415 Building 94,638 90,644 Equipment 287,765 278,851 Construction in progress 77,681 79,928 471,985 460,838 Less: accumulated depreciation 200,514 189,483 Property, plant and equipment, net $ 271,471 $ 271,355

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Identifiable Intangible Assets	Identifiable intangible assets with finite lives at June 30, 2023 and December 31, 2022 are summarized as follows: Amortization Gross Carrying Amount at June 30, 2023 Accumulated Amortization at June 30, 2023 Gross Carrying Amount at December 31, 2022 Accumulated Amortization at December 31, 2022 Customer relationships & lists 10-20 $ 360,156 $ 199,773 $ 357,131 $ 190,576 Trademarks & trade names 2-17 50,203 35,238 50,058 33,416 Developed technology 5-12 40,925 16,375 40,473 16,171 Other 2-18 25,446 22,360 25,041 19,245 $ 476,730 $ 273,746 $ 472,703 $ 259,408

NET EARNINGS PER SHARE (Tables)

NET EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Reconciliation of the Net Earnings and Shares Used in Calculating Basic and Diluted Net Earnings Per Share	The following presents a reconciliation of the net earnings and shares used in calculating basic and diluted net earnings per share: Three Months Ended Six Months Ended 2023 2022 2023 2022 Net Earnings - Basic and Diluted $ 30,110 $ 29,782 $ 52,820 $ 58,712 Shares (000s) Weighted Average Common Shares - Basic 32,110 31,999 32,094 32,020 Effect of Dilutive Securities – Stock Options, Restricted Stock, and Performance Shares 324 315 330 375 Weighted Average Common Shares - Diluted 32,434 32,314 32,424 32,395 Net Earnings Per Share - Basic $ 0.94 $ 0.93 $ 1.65 $ 1.83 Net Earnings Per Share - Diluted $ 0.93 $ 0.92 $ 1.63 $ 1.81

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	The segment information is summarized as follows: Business Segment Assets June 30, December 31, Human Nutrition and Health $ 1,173,567 $ 1,170,238 Animal Nutrition and Health 176,015 175,972 Specialty Products 176,258 177,187 Other and Unallocated (1) 93,391 101,115 Total $ 1,619,231 $ 1,624,512 Business Segment Net Sales Three Months Ended Six Months Ended 2023 2022 2023 2022 Human Nutrition and Health $ 135,669 $ 131,628 $ 268,322 $ 254,073 Animal Nutrition and Health 61,329 62,600 126,218 131,942 Specialty Products 32,726 36,647 64,957 69,981 Other and Unallocated (2) 1,528 5,818 4,295 9,564 Total $ 231,252 $ 236,693 $ 463,792 $ 465,560 Business Segment Earnings Before Income Taxes Three Months Ended Six Months Ended 2023 2022 2023 2022 Human Nutrition and Health $ 27,499 $ 23,705 $ 45,934 $ 44,008 Animal Nutrition and Health 7,662 7,586 17,160 18,907 Specialty Products 9,298 9,919 17,244 17,680 Other and Unallocated (2) (1,623) (1,290) (3,094) (2,339) Interest and other expense (4,436) (662) (9,725) (1,368) Total $ 38,400 $ 39,258 $ 67,519 $ 76,888 Depreciation/Amortization Three Months Ended Six Months Ended 2023 2022 2023 2022 Human Nutrition and Health $ 9,265 $ 7,392 $ 18,927 $ 14,747 Animal Nutrition and Health 2,123 1,668 3,768 3,329 Specialty Products 1,811 1,899 3,609 3,831 Other and Unallocated (2) 229 974 770 1,954 Total $ 13,428 $ 11,933 $ 27,074 $ 23,861 Capital Expenditures Six Months Ended June 30, 2023 2022 Human Nutrition and Health $ 13,785 $ 11,006 Animal Nutrition and Health 2,130 6,559 Specialty Products 1,447 2,206 Other and Unallocated (2) 151 338 Total $ 17,513 $ 20,109 (1) Other and Unallocated assets consist of certain cash, capitalized loan issuance costs, other assets, investments, and income taxes, which the Company does not allocate to its individual business segments. It also includes assets associated with a few minor businesses which individually do not meet the quantitative thresholds for separate presentation. (2) Other and Unallocated consists of a few minor businesses which individually do not meet the quantitative thresholds for separate presentation and corporate expenses that have not been allocated to a segment. Unallocated corporate expenses consist of: (i) Transaction and integration costs and unallocated legal fee s totaling $651 and $1,216 for th e three and six months ended June 30, 2023, respectively, and $872 and $1,176 for the three and six months ended June 30, 2022, respectively, and (ii) Unallocated amortization expense of $0 and $312 for the three and six months ended June 30, 2023, and $741 and $1,479 for the three and six months ended June 30, 2022, respectively, related to an intangible asset in connection with a company-wide ERP system implementation.

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenues	The following table presents revenues disaggregated by revenue source. Sales and usage-based taxes are excluded from revenues. Three Months Ended Six Months Ended 2023 2022 2023 2022 Product Sales $ 219,567 $ 225,260 $ 442,740 $ 443,313 Co-manufacturing 7,475 9,819 14,520 18,126 Consignment 3,431 989 4,973 2,580 Product Sales Revenue 230,473 236,068 462,233 464,019 Royalty Revenue 779 625 1,559 1,541 Total Revenue $ 231,252 $ 236,693 $ 463,792 $ 465,560 The following table presents revenues disaggregated by geography, based on the shipping addresses of customers: Three Months Ended Six Months Ended 2023 2022 2023 2022 United States $ 171,450 $ 169,076 $ 338,334 $ 343,567 Foreign Countries 59,802 67,617 125,458 121,993 Total Revenue $ 231,252 $ 236,693 $ 463,792 $ 465,560

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2023
Supplemental Cash Flow Information [Abstract]
Schedule of Supplemental Cash Flow Information	Cash paid during the six months ended June 30, 2023 and 2022 for income taxes and interest is as follows: Six Months Ended June 30, 2023 2022 Income taxes $ 20,471 $ 18,598 Interest $ 13,454 $ 1,960

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables)	6 Months Ended
	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Changes in Accumulated Other Comprehensive (Loss) Income	The changes in accumulated other comprehensive (loss) income were as follows: Three Months Ended Six Months Ended 2023 2022 2023 2022 Net foreign currency translation adjustment $ (1,116) $ (6,951) $ 8,308 $ (9,793) Net change of cash flow hedge (see Note 20 for further information) Unrealized (loss) gain on cash flow hedge (730) 1,122 (1,406) 3,206 Tax 176 (272) 341 (783) Net of tax (554) 850 (1,065) 2,423 Net change in postretirement benefit plan (see Note 15 for further information) Amortization of prior service cost — 2 — 4 Amortization of loss 2 — 4 — Gain arising during the period and prior service credit — (9) 132 (41) Total before tax 2 (7) 136 (37) Tax — (27) (34) (24) Net of tax 2 (34) 102 (61) Total other comprehensive income (loss) $ (1,668) $ (6,135) $ 7,345 $ (7,431)
Schedule of Accumulated Other Comprehensive (Loss) Income	Accumulated other comprehensive (loss) income at June 30, 2023 and December 31, 2022 consisted of the following: Foreign currency Cash flow hedge Postretirement Total Balance December 31, 2022 $ (8,401) $ 1,065 $ 182 $ (7,154) Other comprehensive income (loss) 8,308 (1,065) 102 7,345 Balance June 30, 2023 $ (93) $ — $ 284 $ 191

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	6 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
Schedule of Net Periodic Benefit Cost	Net periodic benefit costs for such retirement medical plans were as follows: Six Months Ended June 30, 2023 2022 Service cost $ 54 $ 39 Interest cost 31 13 Amortization of prior service cost — 4 Amortization of loss 4 — Net periodic benefit cost $ 85 $ 56 Net periodic benefit costs for such benefit pensions plans were as follows: Six Months Ended June 30, 2023 2022 Service cost with interest to end of year $ 32 $ 29 Interest cost 32 12 Expected return on plan assets (21) (25) Total net periodic benefit cost $ 43 $ 16

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Schedule of Lease Cost	Right of use assets and lease liabilities at June 30, 2023 and December 31, 2022 are summarized as follows: Right of use assets June 30, 2023 December 31, 2022 Operating leases $ 16,119 $ 17,094 Finance leases 2,221 2,338 Total $ 18,340 $ 19,432 Lease liabilities - current June 30, 2023 December 31, 2022 Operating leases $ 3,859 $ 3,796 Finance leases 232 226 Total $ 4,091 $ 4,022 Lease liabilities - non-current June 30, 2023 December 31, 2022 Operating leases $ 13,088 $ 13,806 Finance leases 2,097 2,213 Total $ 15,185 $ 16,019 For the three and six months ended June 30, 2023 and 2022, the Company's total lease costs were as follows, which included amounts recognized in earnings, amounts capitalized on the balance sheets, and the cash flows arising from lease transactions: Three Months Ended Six Months Ended 2023 2022 2023 2022 Lease Cost Operating lease cost $ 1,376 $ 811 $ 2,646 $ 1,592 Finance lease cost Amortization of ROU asset 60 52 120 104 Interest on lease liabilities 29 30 58 61 Total finance lease 89 82 178 165 Total lease cost $ 1,465 $ 893 $ 2,824 $ 1,757 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 1,151 $ 807 $ 2,209 $ 1,608 Operating cash flows from finance leases 29 30 58 61 Financing cash flows from finance leases 55 42 110 83 $ 1,235 $ 879 $ 2,377 $ 1,752 Right-of-use assets obtained in exchange for new operating lease liabilities, net of right-of-use assets disposed $ 2,148 $ 4,615 $ 2,605 $ 5,277 Weighted-average remaining lease term - operating leases 5.41 years 4.10 years 5.41 years 4.10 years Weighted-average remaining lease term - finance leases 9.51 years 10.91 years 9.51 years 10.91 years Weighted-average discount rate - operating leases 4.1 % 3.2 % 4.1 % 3.2 % Weighted-average discount rate - finance leases 5.0 % 5.1 % 5.0 % 5.1 %
Schedule of Aggregate Future Minimum Rental Payments Required under Non-Cancelable Finance Leases	Aggregate future minimum rental payments required under all non-cancelable operating and finance leases at June 30, 2023 are as follows: Year July 1, 2023 to December 31, 2023 $ 3,016 2024 4,771 2025 3,739 2026 3,225 2027 2,758 2028 2,273 Thereafter 4,851 Total minimum lease payments $ 24,633
Schedule of Aggregate Future Minimum Rental Payments Required under Non-Cancelable Operating Leases	Aggregate future minimum rental payments required under all non-cancelable operating and finance leases at June 30, 2023 are as follows: Year July 1, 2023 to December 31, 2023 $ 3,016 2024 4,771 2025 3,739 2026 3,225 2027 2,758 2028 2,273 Thereafter 4,851 Total minimum lease payments $ 24,633

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Derivative Instruments	As of December 31, 2022, the fair value of the derivative instruments is presented as follows in the Company's condensed consolidated balance sheets: Derivative assets December 31, 2022 Interest rate swap $ 1,406 Cross-currency swap 4,587 Derivative assets $ 5,993
Schedule of Gains (Losses) on Hedging Instruments	Losses and gains on our hedging instruments were recognized in accumulated other comprehensive income (loss) and categorized as follows for the three and six months ended June 30, 2023 and 2022: Location within Statements of Comprehensive Income Three Months Ended Six Months Ended 2023 2022 2023 2022 Cash flow hedge (interest rate swap), net of tax Unrealized (loss) gain on cash flow hedge, net $ (554) $ 850 $ (1,065) $ 2,423 Net investment hedge (cross-currency swap), net of tax Net foreign currency translation adjustment (434) 3,963 (1,455) 5,086 Total $ (988) $ 4,813 $ (2,520) $ 7,509
Schedule of Key Terms of Forward Exchange Contracts	The following table summarizes the key terms of the four forward exchange contracts: Date entered into Date expired on Balchem to sell Balchem to buy June 15, 2022 June 21, 2022 USD 294,555 NOK 2,924,553 June 15, 2022 June 17, 2022 USD 6,436 EUR 6,180 June 15, 2022 June 21, 2022 USD 16,640 EUR 15,972 June 15, 2022 June 21, 2022 EUR 15,972 NOK 165,210

SIGNIFICANT ACQUISITIONS - Narr

SIGNIFICANT ACQUISITIONS - Narrative (Details) kr in Thousands				3 Months Ended		6 Months Ended
	Aug. 30, 2022 USD ($)	Jun. 21, 2022 USD ($)	Jun. 21, 2022 NOK (kr)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Business Acquisition [Line Items]
Cash paid for acquisitions, net of cash acquired						$ 341,000	$ 295,660,000
Goodwill				$ 773,913,000		773,913,000		$ 769,509,000
Human Nutrition and Health
Business Acquisition [Line Items]
Goodwill percent	80%
Animal Nutrition and Health
Business Acquisition [Line Items]
Goodwill percent	20%
Bergstrom
Business Acquisition [Line Items]
Percentage of outstanding common shares acquired	100%
Payments	$ 71,233,000					70,892,000
Total expected payments	76,233,000
Cash acquired from acquisition	773,000
Cash paid for acquisitions, net of cash acquired	70,254,000
Contingent consideration liability				5,000,000		5,000,000
Expected payments						76,233,000
Working capital adjustment						341,000
Goodwill	$ 31,550,000
Acquisition-related costs					$ 75,000		75,000
Transaction and integration costs				(7,769,000)		(5,880,000)
Acquisition of transaction costs				8,000,000		6,400,000
Bergstrom | Customer relationships
Business Acquisition [Line Items]
Useful life of intangible assets acquired	15 years
Bergstrom | Corporate trademark
Business Acquisition [Line Items]
Useful life of intangible assets acquired	2 years
Bergstrom | Product trademarks
Business Acquisition [Line Items]
Useful life of intangible assets acquired	10 years
Bergstrom | Developed technology
Business Acquisition [Line Items]
Useful life of intangible assets acquired	12 years
Bergstrom | Former Shareholders
Business Acquisition [Line Items]
Payments	$ 71,027,000
Total expected payments	76,027,000
Bergstrom | Former Bank
Business Acquisition [Line Items]
Total expected payments	$ 206,000
Kechu BidCo AS and Its Subsidiary Companies (Kappa)
Business Acquisition [Line Items]
Payments | kr			kr 3,305,653
Total expected payments		$ 333,112,000
Cash acquired from acquisition		6,365,000	63,064
Cash paid for acquisitions, net of cash acquired | kr			kr 2,938,917
Contingent consideration liability				0		0
Goodwill		216,383,000
Acquisition-related costs				$ 204,000	$ 451,000	$ 479,000	$ 451,000
Net gain on foreign currency exchange forward contracts		(512,000)
Kappa bank debt paid on acquisition date		$ 333,112,000
Kechu BidCo AS and Its Subsidiary Companies (Kappa) | Customer relationships
Business Acquisition [Line Items]
Useful life of intangible assets acquired		15 years	15 years
Kechu BidCo AS and Its Subsidiary Companies (Kappa) | Corporate trademark
Business Acquisition [Line Items]
Useful life of intangible assets acquired		2 years	2 years
Kechu BidCo AS and Its Subsidiary Companies (Kappa) | Product trademarks
Business Acquisition [Line Items]
Useful life of intangible assets acquired		10 years	10 years
Kechu BidCo AS and Its Subsidiary Companies (Kappa) | Developed technology
Business Acquisition [Line Items]
Useful life of intangible assets acquired		12 years	12 years
Kechu BidCo AS and Its Subsidiary Companies (Kappa) | Former Shareholders
Business Acquisition [Line Items]
Payments | kr			kr 3,001,981
Total expected payments		$ 302,464,000
Cash paid for acquisitions, net of cash acquired		296,099,000
Kappa bank debt paid on acquisition date		302,464,000
Kechu BidCo AS and Its Subsidiary Companies (Kappa) | Lenders
Business Acquisition [Line Items]
Payments | kr			kr 303,672
Total expected payments		$ 30,648,000

SIGNIFICANT ACQUISITIONS - Esti

SIGNIFICANT ACQUISITIONS - Estimated Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands			6 Months Ended
	Aug. 30, 2022	Jun. 21, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Goodwill			$ 773,913		$ 769,509
Net decrease to contingent consideration liability			$ (6,400)	$ 0
Bergstrom
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash and cash equivalents	$ 773
Accounts receivable	4,699
Inventories	3,972
Property, plant and equipment	2,243
Right of use assets	866
Other assets	197
Accounts payable	(699)
Bank debt	(206)
Lease liabilities	(871)
Other liabilities	(462)
Goodwill	31,550
Total consideration on acquisition date and working capital adjustment	78,862
Net decrease to contingent consideration liability	(2,835)
Total expected payments	76,233
Bergstrom | Former Shareholders
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Total expected payments	76,027
Bergstrom | Former Bank
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Total expected payments	206
Bergstrom | Customer relationships
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets	29,900
Bergstrom | Developed technology
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets	4,600
Bergstrom | Trademarks
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets	$ 2,300
Kechu BidCo AS and Its Subsidiary Companies (Kappa)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Cash and cash equivalents		$ 6,365
Accounts receivable		8,036
Inventories		17,600
Property, plant and equipment		9,854
Right of use assets		3,349
Other assets		2,399
Accounts payable		(3,301)
Bank debt		(30,648)
Lease liabilities		(3,349)
Other liabilities		(4,461)
Deferred income taxes, net		(24,716)
Goodwill		216,383
Total consideration on acquisition date and working capital adjustment		307,013
Net decrease to contingent consideration liability		(4,037)
Net gain on foreign currency exchange forward contracts		(512)
Total expected payments		333,112
Kechu BidCo AS and Its Subsidiary Companies (Kappa) | Former Shareholders
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Total expected payments		302,464
Kechu BidCo AS and Its Subsidiary Companies (Kappa) | Lenders
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Total expected payments		30,648
Kechu BidCo AS and Its Subsidiary Companies (Kappa) | Customer relationships
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets		88,813
Kechu BidCo AS and Its Subsidiary Companies (Kappa) | Developed technology
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets		15,643
Kechu BidCo AS and Its Subsidiary Companies (Kappa) | Trademarks
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets [Abstract]
Intangible assets		$ 5,046

SIGNIFICANT ACQUISITIONS - Sche

SIGNIFICANT ACQUISITIONS - Schedule of Pro Forma Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net Sales
Kappa & Bergstrom actual results included in the Company's consolidated income statement in three and six months ended June 30, 2023	$ 13,615		$ 27,745
Supplemental pro forma combined financial information	231,252	$ 254,507	463,792	$ 501,875
Net Earnings
Kappa & Bergstrom actual results included in the Company's consolidated income statement in three and six months ended June 30, 2023	1,094		(1,215)
Supplemental pro forma combined financial information	$ 31,890	$ 30,005	$ 57,218	$ 59,444

STOCKHOLDERS' EQUITY - Stock-Ba

STOCKHOLDERS' EQUITY - Stock-Based Compensation (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Jun. 22, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Net earnings		$ (2,881)	$ (2,933)	$ (6,563)	$ (5,312)
Expiration period of options granted				10 years
Shares available for future awards (in shares)		1,034,630		1,034,630
Additional shares approved (in shares)	800,000
Stock options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Vesting period				3 years
Stock options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Vesting period				5 years
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Vesting period				3 years
Restricted stock | Non-employee director
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Vesting period				3 years
Performance shares
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Vesting period				3 years
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation cost		$ 545	277	$ 959	676
Operating expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation cost		$ 3,203	$ 3,535	$ 7,559	$ 6,213

STOCKHOLDERS' EQUITY - Stock Op

STOCKHOLDERS' EQUITY - Stock Options (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning of period (in shares)			1,045	867
Granted (in shares)			109	109
Exercised (in shares)			(46)	(18)
Forfeited (in shares)			(11)	(6)
Canceled (in shares)			(1)	0
Outstanding at end of period (in shares)	1,096	952	1,096	952
Exercisable at end of period (in shares)	728	666	728	666
Weighted Average Exercise Price
Outstanding at beginning of period (in dollars per share)			$ 99.82	$ 88.19
Granted (in dollars per share)			138.09	138.07
Exercised (in dollars per share)			83.43	72.74
Forfeited (in dollars per share)			131.79	120.36
Canceled (in dollars per share)			138.07	0
Outstanding at end of period (in dollars per share)	$ 103.96	$ 93.99	103.96	93.99
Exercisable at end of period (in dollars per share)	$ 87.95	$ 81.11	$ 87.95	$ 81.11
Aggregate intrinsic value, outstanding, beginning of period			$ 27,221	$ 69,711
Aggregate intrinsic value, outstanding, end of period	$ 35,430	$ 34,907	35,430	34,907
Aggregate intrinsic value, exercisable, end of period	$ 34,170	$ 32,409	$ 34,170	$ 32,409
Weighted average remaining contractual term, outstanding			6 years 2 months 12 days	6 years 4 months 24 days
Weighted average remaining contractual term, exercisable			4 years 9 months 18 days	5 years 4 months 24 days
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Weighted-average fair value of options granted (in dollars per share)	$ 0	$ 0	$ 40.91	$ 40.26
Total intrinsic value of stock options exercised	$ 597	$ 495	$ 2,181	$ 1,149
Stock options
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Dividend yield rate			0.50%	0.50%
Expected volatility rate			28%	31%
Risk-free interest rate			3.90%	2%
Expected term			4 years 9 months 18 days	4 years 10 months 24 days

STOCKHOLDERS' EQUITY - Restrict

STOCKHOLDERS' EQUITY - Restricted Stock and Performance Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Unrecognized compensation cost	$ 26,244	$ 19,988
Period for unrecognized compensation cost to be recognized over	2 years 1 month 6 days
Estimated share-based compensation expense	$ 16,000
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-vested balance as of beginning of period (in shares)	122	166
Granted (in shares)	39	34
Vested (in shares)	(32)	(77)
Forfeited (in shares)	(4)	(3)
Non-vested balance as of end of period (in shares)	125	120
Weighted Average Grant Date Fair Value
Non-vested balance as of beginning of period (in dollars per share)	$ 124.42	$ 99.70
Granted (in dollars per share)	137.48	137.74
Vested (in dollars per share)	110.95	80.84
Forfeited (in dollars per share)	128.06	116.73
Non-vested balance as of end of period (in dollars per share)	$ 131.76	$ 122.03
Performance shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-vested balance as of beginning of period (in shares)	70	69
Granted (in shares)	42	39
Vested (in shares)	(36)	(35)
Forfeited (in shares)	0	(3)
Non-vested balance as of end of period (in shares)	76	70
Weighted Average Grant Date Fair Value
Non-vested balance as of beginning of period (in dollars per share)	$ 127.69	$ 110.72
Granted (in dollars per share)	139.66	114.22
Vested (in dollars per share)	98.84	53.17
Forfeited (in dollars per share)	0	84.09
Non-vested balance as of end of period (in dollars per share)	$ 135.25	$ 127.69
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Risk-free interest rate	4.20%	1.80%
Dividend yield rate	0.50%	0.50%
Expected volatility rate	32%	32%
Initial TSR	4.20%	(15.70%)
Cliff vest	100%

STOCKHOLDERS' EQUITY - Repurcha

STOCKHOLDERS' EQUITY - Repurchase of Common Stock (Details) - $ / shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Number of shares authorized to be repurchased (in shares)	3,763,038
Aggregate number of shares repurchased since inception (in shares)	3,099,224
Number of shares acquired under stock repurchase plan and subsequently reissued (in shares)	28,676	250,661
Treasury stock acquired, average cost (in dollars per share)	$ 136.85	$ 140.42

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 39,780	$ 44,477
Work in progress	9,604	3,143
Finished goods	75,565	72,048
Total inventories	$ 124,949	$ 119,668

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Gross property, plant and equipment	$ 471,985,000		$ 471,985,000		$ 460,838,000
Less: accumulated depreciation	200,514,000		200,514,000		189,483,000
Property, plant and equipment, net	271,471,000		271,471,000		271,355,000
Impairment charges	6,146,000	$ 0	6,146,000	$ 0
Land
Property, Plant and Equipment [Abstract]
Gross property, plant and equipment	11,901,000		11,901,000		11,415,000
Building
Property, Plant and Equipment [Abstract]
Gross property, plant and equipment	94,638,000		94,638,000		90,644,000
Equipment
Property, Plant and Equipment [Abstract]
Gross property, plant and equipment	287,765,000		287,765,000		278,851,000
Construction in progress
Property, Plant and Equipment [Abstract]
Gross property, plant and equipment	$ 77,681,000		$ 77,681,000		$ 79,928,000

INTANGIBLE ASSETS - Narrative (

INTANGIBLE ASSETS - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 773,913,000		$ 773,913,000		$ 769,509,000
Amortization of identifiable intangible assets	6,892,000	$ 5,850,000	14,185,000	$ 11,761,000
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2023	13,876,000		13,876,000
2024	18,965,000		18,965,000
2025	15,512,000		15,512,000
2026	15,343,000		15,343,000
2027	14,854,000		14,854,000
2028	14,457,000		14,457,000
Identifiable intangible assets with indefinite useful lives	$ 0	$ 0	$ 0	$ 0

INTANGIBLE ASSETS - Schedule of

INTANGIBLE ASSETS - Schedule of Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Identifiable intangible assets [Abstract]
Gross Carrying Amount	$ 476,730	$ 472,703
Accumulated Amortization	273,746	259,408
Customer relationships & lists
Identifiable intangible assets [Abstract]
Gross Carrying Amount	360,156	357,131
Accumulated Amortization	$ 199,773	190,576
Customer relationships & lists | Minimum
Identifiable intangible assets [Abstract]
Amortization Period (in years)	10 years
Customer relationships & lists | Maximum
Identifiable intangible assets [Abstract]
Amortization Period (in years)	20 years
Trademarks & trade names
Identifiable intangible assets [Abstract]
Gross Carrying Amount	$ 50,203	50,058
Accumulated Amortization	$ 35,238	33,416
Trademarks & trade names | Minimum
Identifiable intangible assets [Abstract]
Amortization Period (in years)	2 years
Trademarks & trade names | Maximum
Identifiable intangible assets [Abstract]
Amortization Period (in years)	17 years
Developed technology
Identifiable intangible assets [Abstract]
Gross Carrying Amount	$ 40,925	40,473
Accumulated Amortization	$ 16,375	16,171
Developed technology | Minimum
Identifiable intangible assets [Abstract]
Amortization Period (in years)	5 years
Developed technology | Maximum
Identifiable intangible assets [Abstract]
Amortization Period (in years)	12 years
Other
Identifiable intangible assets [Abstract]
Gross Carrying Amount	$ 25,446	25,041
Accumulated Amortization	$ 22,360	$ 19,245
Other | Minimum
Identifiable intangible assets [Abstract]
Amortization Period (in years)	2 years
Other | Maximum
Identifiable intangible assets [Abstract]
Amortization Period (in years)	18 years

EQUITY METHOD INVESTMENT (Detai

EQUITY METHOD INVESTMENT (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) vote	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Equity Method Investment, Summarized Financial Information [Abstract]
Number of votes | vote			2
Percentage of operating expenses to be absorbed			66.66%
Percentage of production offtake			66.66%
St. Gabriel CC Company, LLC
Equity Method Investment, Summarized Financial Information [Abstract]
Ownership percentage in joint venture	66.66%		66.66%
Loss relating to joint venture's expenses	$ 139	$ 140	$ 278	$ 280
Capital contributions	16	$ 75	72	$ 133
Carrying value of joint venture	$ 4,089		$ 4,089		$ 4,295
St. Gabriel CC Company, LLC | Eastman Chemical Company
Equity Method Investment, Summarized Financial Information [Abstract]
Ownership percentage in joint venture	33.34%		33.34%

REVOLVING LOAN (Details)

REVOLVING LOAN (Details) - USD ($)		3 Months Ended			6 Months Ended
	Jul. 27, 2022	Jun. 30, 2023	Sep. 30, 2022	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Jun. 27, 2018
Debt Instrument [Line Items]
Proceeds from revolving loan					$ 13,000,000	$ 365,000,000
Repayments of outstanding balance					48,000,000	40,000,000
Capitalized costs net of accumulated amortization		$ 1,174,000			1,174,000		$ 1,317,000
Amortization expense pertaining to capitalized costs		73,000		$ 70,000	144,000	$ 141,000
Revolving loan | Revolving
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 550,000,000							$ 500,000,000
Proceeds from revolving loan			$ 70,000,000	$ 345,000,000
Repayments of outstanding balance	$ 433,569,000
Outstanding balance		$ 405,569,000			405,569,000		$ 440,569,000
Installment payments required					$ 0
Credit agreement
Debt Instrument [Line Items]
Interest rate		6.33%			6.33%
Commitment fee percentage					0.175%
Unused portion of revolving loan		$ 144,431,000			$ 144,431,000
Credit agreement | Minimum
Debt Instrument [Line Items]
Commitment fee percentage					0.15%
Credit agreement | Maximum
Debt Instrument [Line Items]
Commitment fee percentage					0.225%

NET EARNINGS PER SHARE (Details

NET EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net Earnings - Basic and Diluted	$ 30,110	$ 22,710	$ 29,782	$ 28,930	$ 52,820	$ 58,712
Weighted Average Common Shares - Basic (in shares)	32,110,000		31,999,000		32,094,000	32,020,000
Effect of Dilutive Securities - Stock Options, Restricted Stock, and Performance Shares (in shares)	324,000		315,000		330,000	375,000
Weighted Average Common Shares - Diluted (in shares)	32,434,000		32,314,000		32,424,000	32,395,000
Net Earnings Per Share - Basic (in dollars per share)	$ 0.94		$ 0.93		$ 1.65	$ 1.83
Net Earnings Per Share - Diluted (in dollars per share)	$ 0.93		$ 0.92		$ 1.63	$ 1.81
Anti-dilutive shares (in shares)	352,759		294,568		391,269	237,453

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Effective tax rate	21.60%	24.10%	21.80%	23.60%
Unrecognized tax benefits	$ 4,586		$ 4,586		$ 5,815
Accrued interest and penalties related to unrecognized tax benefits	$ 1,636		$ 1,636		$ 1,735

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (Details)	6 Months Ended
	Jun. 30, 2023 segment
Segment Reporting [Abstract]
Reportable segments	3

SEGMENT INFORMATION - Business

SEGMENT INFORMATION - Business Segment Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Segment information [Abstract]
Assets	$ 1,619,231	$ 1,624,512
Operating Segments | Human Nutrition and Health
Segment information [Abstract]
Assets	1,173,567	1,170,238
Operating Segments | Animal Nutrition and Health
Segment information [Abstract]
Assets	176,015	175,972
Operating Segments | Specialty Products
Segment information [Abstract]
Assets	176,258	177,187
Other and Unallocated
Segment information [Abstract]
Assets	$ 93,391	$ 101,115

SEGMENT INFORMATION - Busines_2

SEGMENT INFORMATION - Business Segment Net Sales (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment information [Abstract]
Net sales	$ 231,252	$ 236,693	$ 463,792	$ 465,560
Operating Segments | Human Nutrition and Health
Segment information [Abstract]
Net sales	135,669	131,628	268,322	254,073
Operating Segments | Animal Nutrition and Health
Segment information [Abstract]
Net sales	61,329	62,600	126,218	131,942
Operating Segments | Specialty Products
Segment information [Abstract]
Net sales	32,726	36,647	64,957	69,981
Other and Unallocated
Segment information [Abstract]
Net sales	$ 1,528	$ 5,818	$ 4,295	$ 9,564

SEGMENT INFORMATION - Busines_3

SEGMENT INFORMATION - Business Segment Earnings Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment information [Abstract]
Interest and other expense	$ (4,436)	$ (662)	$ (9,725)	$ (1,368)
Earnings before income tax expense	38,400	39,258	67,519	76,888
Operating Segments | Human Nutrition and Health
Segment information [Abstract]
Earnings before income tax expense	27,499	23,705	45,934	44,008
Operating Segments | Animal Nutrition and Health
Segment information [Abstract]
Earnings before income tax expense	7,662	7,586	17,160	18,907
Operating Segments | Specialty Products
Segment information [Abstract]
Earnings before income tax expense	9,298	9,919	17,244	17,680
Other and Unallocated
Segment information [Abstract]
Earnings before income tax expense	(1,623)	(1,290)	(3,094)	(2,339)
Interest and other expense
Segment information [Abstract]
Interest and other expense	$ (4,436)	$ (662)	$ (9,725)	$ (1,368)

SEGMENT INFORMATION - Depreciat

SEGMENT INFORMATION - Depreciation and Amortization (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment information [Abstract]
Depreciation and amortization	$ 13,428	$ 11,933	$ 27,074	$ 23,861
Operating Segments | Human Nutrition and Health
Segment information [Abstract]
Depreciation and amortization	9,265	7,392	18,927	14,747
Operating Segments | Animal Nutrition and Health
Segment information [Abstract]
Depreciation and amortization	2,123	1,668	3,768	3,329
Operating Segments | Specialty Products
Segment information [Abstract]
Depreciation and amortization	1,811	1,899	3,609	3,831
Other and Unallocated
Segment information [Abstract]
Depreciation and amortization	$ 229	$ 974	$ 770	$ 1,954

SEGMENT INFORMATION - Capital E

SEGMENT INFORMATION - Capital Expenditures (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment information [Abstract]
Capital expenditures			$ 17,513	$ 20,109
Amortization of identifiable intangible assets	$ 6,892	$ 5,850	14,185	11,761
Other and Unallocated
Segment information [Abstract]
Capital expenditures			151	338
Transaction and integration related costs	(651)	(872)	(1,216)	(1,176)
Amortization of identifiable intangible assets	$ 0	$ 741	312	1,479
Human Nutrition and Health | Operating Segments
Segment information [Abstract]
Capital expenditures			13,785	11,006
Animal Nutrition and Health | Operating Segments
Segment information [Abstract]
Capital expenditures			2,130	6,559
Specialty Products | Operating Segments
Segment information [Abstract]
Capital expenditures			$ 1,447	$ 2,206

REVENUE (Details)

REVENUE (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) revenue_substream	Jun. 30, 2022 USD ($)
Disaggregation of Revenue [Line Items]
Net sales	$ 231,252	$ 236,693	$ 463,792	$ 465,560
United States
Disaggregation of Revenue [Line Items]
Net sales	171,450	169,076	338,334	343,567
Foreign Countries
Disaggregation of Revenue [Line Items]
Net sales	59,802	67,617	125,458	121,993
Product Sales
Disaggregation of Revenue [Line Items]
Net sales	219,567	225,260	442,740	443,313
Co-manufacturing
Disaggregation of Revenue [Line Items]
Net sales	7,475	9,819	14,520	18,126
Consignment
Disaggregation of Revenue [Line Items]
Net sales	3,431	989	4,973	2,580
Product Sales Revenue
Disaggregation of Revenue [Line Items]
Net sales	230,473	236,068	$ 462,233	464,019
Number of sub-streams of revenue | revenue_substream			3
Royalty Revenue
Disaggregation of Revenue [Line Items]
Net sales	$ 779	$ 625	$ 1,559	$ 1,541

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Supplemental Cash Flow Information [Abstract]
Income taxes	$ 20,471	$ 18,598
Interest	$ 13,454	$ 1,960

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME - Changes in Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss)	$ (1,668)	$ 9,013	$ (6,135)	$ (1,296)	$ 7,345	$ (7,431)
Cross-currency swap
Accumulated Other Comprehensive Income (Loss) [Line Items]
Gain (loss) on net foreign currency translation adjustment	(434)		3,963		(1,455)	5,086
Net foreign currency translation adjustment tax benefit (expense)	782		(1,309)		1,114	(1,642)
Net foreign currency translation adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss)	(1,116)		(6,951)		8,308	(9,793)
Net change of cash flow hedge
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss)	(554)		850		(1,065)	2,423
Total before tax	(730)		1,122		(1,406)	3,206
Tax	176		(272)		341	(783)
Amortization of prior service cost
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total before tax	0		2		0	4
Amortization of loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total before tax	2		0		4	0
Gain arising during the period and prior service credit
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total before tax	0		(9)		132	(41)
Postretirement benefit plan
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss)	2		(34)		102	(61)
Total before tax	2		(7)		136	(37)
Tax	$ 0		$ (27)		$ (34)	$ (24)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME - Components of Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 973,416	$ 938,284	$ 873,682	$ 877,015	$ 938,284	$ 877,015
Other comprehensive income (loss)	(1,668)	9,013	(6,135)	(1,296)	7,345	(7,431)
Ending balance	1,006,903	973,416	901,370	873,682	1,006,903	901,370
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	1,859	(7,154)	(6,289)	(4,993)	(7,154)	(4,993)
Other comprehensive income (loss)	(1,668)	9,013	(6,135)	(1,296)
Ending balance	191	1,859	(12,424)	$ (6,289)	191	(12,424)
Foreign currency translation adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		(8,401)			(8,401)
Other comprehensive income (loss)	(1,116)		(6,951)		8,308	(9,793)
Ending balance	(93)				(93)
Cash flow hedge
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		1,065			1,065
Other comprehensive income (loss)	(554)		850		(1,065)	2,423
Ending balance	0				0
Postretirement benefit plan
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		$ 182			182
Other comprehensive income (loss)	2		$ (34)		102	$ (61)
Ending balance	$ 284				$ 284

EMPLOYEE BENEFIT PLANS - Narrat

EMPLOYEE BENEFIT PLANS - Narrative (Details) $ in Thousands				6 Months Ended	12 Months Ended
	Aug. 30, 2022 plan	Jun. 21, 2022 plan	Jan. 01, 2021 plan	Jun. 30, 2023 USD ($) plan	Dec. 31, 2020 plan	Dec. 31, 2022 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Number of savings plans | plan			1		2
Number of defined benefit plans | plan				2
Deferred compensation liability				$ 9,634		$ 8,543
Noncurrent deferred compensation liability				9,618		8,527
Current deferred compensation liability				16		16
Level 1
Defined Benefit Plan Disclosure [Line Items]
Related rabbi trust assets				9,635		8,547
Postretirement Medical Plans
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation				1,419		1,465
Historical cash payments for retirement medical plan claims per year (less than)				200
Defined Benefit Pension Plans | Chemogas Defined Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation				$ 392		$ 393
Kechu BidCo AS and Its Subsidiary Companies (Kappa)
Defined Benefit Plan Disclosure [Line Items]
Number of defined contribution plans | plan		1
Bergstrom
Defined Benefit Plan Disclosure [Line Items]
Number of defined contribution plans | plan	1

EMPLOYEE BENEFIT PLANS - Schedu

EMPLOYEE BENEFIT PLANS - Schedule of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Amortization of loss	$ 4	$ 0
Postretirement Medical Plans
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	54	39
Interest cost	31	13
Amortization of prior service cost	0	4
Net periodic benefit cost	85	56
Defined Benefit Pension Plans | Chemogas Defined Pension Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	32	29
Interest cost	32	12
Expected return on plan assets	(21)	(25)
Net periodic benefit cost	$ 43	$ 16

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) financial_instrument	Dec. 31, 2022 USD ($)
Fair value of financial instruments [Abstract]
Number of financial instruments held for trading purposes | financial_instrument	0
Derivative assets		$ 5,993
Cross-currency swap
Fair value of financial instruments [Abstract]
Derivative assets		4,587
Interest rate swap
Fair value of financial instruments [Abstract]
Derivative assets		1,406
Level 1
Fair value of financial instruments [Abstract]
Related rabbi trust assets	$ 9,635	8,547
Level 3
Fair value of financial instruments [Abstract]
Contingent consideration liabilities	5,000	11,400
Money market funds
Fair value of financial instruments [Abstract]
Cash and cash equivalents	$ 31,421	$ 934

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Cost of sales	$ 153,903	$ 164,817	$ 313,273	$ 322,178
Receivables	125,109		125,109		$ 131,578
Related party payable related to non-contractual monies	56,323		56,323		57,322
St. Gabriel CC Company, LLC
Related Party Transaction [Line Items]
Cost of sales	8,223	8,233	16,295	14,722
Receivables	6,615		6,615		8,820
Payables to related parties	4,907		4,907		5,224
Related party payable related to non-contractual monies	296		296		$ 296
St. Gabriel CC Company, LLC | Services provided
Related Party Transaction [Line Items]
Cost of sales	1,028	1,022	2,200	1,997
St. Gabriel CC Company, LLC | Raw materials sold
Related Party Transaction [Line Items]
Cost of sales	$ 9,782	$ 10,910	$ 19,795	$ 20,221

LEASES- Narrative (Details)

LEASES- Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) tranche	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Jun. 22, 2022 ft²
Lessee, Lease, Description [Line Items]
Reasonably certain criterion renewal period	2 years		2 years
Number of tranches | tranche			4
Finance lease liability	$ 2,329		$ 2,329		$ 2,439
Rent expense charged to operations under lease agreements	$ 1,376	$ 811	$ 2,646	$ 1,592
Years 1 and 2
Lessee, Lease, Description [Line Items]
Discount rate	6.24%		6.24%
Years 1 and 2 | Minimum
Lessee, Lease, Description [Line Items]
Term of contract for operating leases	1 year		1 year
Years 1 and 2 | Maximum
Lessee, Lease, Description [Line Items]
Term of contract for operating leases	2 years		2 years
Years 3 and 4
Lessee, Lease, Description [Line Items]
Discount rate	6.83%		6.83%
Years 3 and 4 | Minimum
Lessee, Lease, Description [Line Items]
Term of contract for operating leases	3 years		3 years
Years 3 and 4 | Maximum
Lessee, Lease, Description [Line Items]
Term of contract for operating leases	4 years		4 years
Years 5 and 9
Lessee, Lease, Description [Line Items]
Discount rate	7.17%		7.17%
Years 5 and 9 | Minimum
Lessee, Lease, Description [Line Items]
Term of contract for operating leases	5 years		5 years
Years 5 and 9 | Maximum
Lessee, Lease, Description [Line Items]
Term of contract for operating leases	9 years		9 years
Years more than 10
Lessee, Lease, Description [Line Items]
Term of contract for operating leases	10 years		10 years
Discount rate	7.89%		7.89%
Corporate Headquarters And Laboratory Facility
Lessee, Lease, Description [Line Items]
Term of contract for operating leases						10 years
Office space | ft²						40,000

LEASES - Right-of-Use Assets an

LEASES - Right-of-Use Assets and Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Right of use assets
Operating leases	$ 16,119	$ 17,094
Finance leases	2,221	2,338
Total	18,340	19,432
Operating leases liabilities - current	3,859	3,796
Finance lease liabilities - current	232	226
Total lease liabilities, current	4,091	4,022
Operating leases liabilities - non-current	13,088	13,806
Finance lease liabilities - non-current	2,097	2,213
Total lease liabilities, non-current	$ 15,185	$ 16,019

LEASES - Schedule of Lease Cost

LEASES - Schedule of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Lease Cost
Operating lease cost	$ 1,376	$ 811	$ 2,646	$ 1,592
Amortization of ROU asset	60	52	120	104
Interest on lease liabilities	29	30	58	61
Total finance lease	89	82	178	165
Total lease cost	1,465	893	2,824	1,757
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	1,151	807	2,209	1,608
Operating cash flows from finance leases	29	30	58	61
Financing cash flows from finance leases	55	42	110	83
Cash flows from operating and finance leases	1,235	879	2,377	1,752
Right-of-use assets obtained in exchange for new operating lease liabilities, net of right-of-use assets disposed	$ 2,148	$ 4,615	$ 2,605	$ 5,277
Weighted-average remaining lease term - operating leases	5 years 4 months 28 days	4 years 1 month 6 days	5 years 4 months 28 days	4 years 1 month 6 days
Weighted-average remaining lease term - finance leases	9 years 6 months 3 days	10 years 10 months 28 days	9 years 6 months 3 days	10 years 10 months 28 days
Weighted-average discount rate - operating leases	4.10%	3.20%	4.10%	3.20%
Weighted-average discount rate - finance leases	5%	5.10%	5%	5.10%

LEASES - Schedule of Aggregate

LEASES - Schedule of Aggregate Future Minimum Rental Payments Required under Non-Cancelable Operating Leases (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Operating And Finance Lease, Liability, To Be Paid [Abstract]
July 1, 2023 to December 31, 2023	$ 3,016
2024	4,771
2025	3,739
2026	3,225
2027	2,758
2028	2,273
Thereafter	4,851
Total minimum lease payments	$ 24,633

DERIVATIVE INSTRUMENTS AND HE_3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($) derivative	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($) derivative	Jun. 21, 2022 derivative	May 28, 2019 USD ($)
Derivative [Line Items]
Settlement on net investment hedge			$ (2,740)	$ 0
Interest rate swap | Interest expense
Derivative [Line Items]
Net interest income (expense)	$ 834	$ (364)	1,518	$ (877)
Forward Contracts
Derivative [Line Items]
Contracts | derivative		4		4	4
Net gains on forward contracts				$ 512
Designated as hedging instrument | Interest rate swap
Derivative [Line Items]
Notional amount of derivatives						$ 108,569
Designated as hedging instrument | Interest rate swap | Pay-fixed interest rate
Derivative [Line Items]
Fixed interest rate						2.05%
Designated as hedging instrument | Cross-currency swap
Derivative [Line Items]
Notional amount of derivatives						$ 108,569
Designated as hedging instrument | Cross-currency swap | Interest expense
Derivative [Line Items]
Net interest income (expense)	$ 569	$ 563	$ 1,119	$ 1,113
Designated as hedging instrument | Cross-currency swap | Pay-fixed interest rate
Derivative [Line Items]
Fixed interest rate						0%
Designated as hedging instrument | Cross-currency swap | Receive-fixed interest rate
Derivative [Line Items]
Fixed interest rate						2.05%

DERIVATIVE INSTRUMENTS AND HE_4

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Fair Value of Derivative Instruments (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Derivative Liability [Abstract]
Derivative assets	$ 5,993
Interest rate swap
Derivative Liability [Abstract]
Derivative assets	1,406
Cross-currency swap
Derivative Liability [Abstract]
Derivative assets	$ 4,587

DERIVATIVE INSTRUMENTS AND HE_5

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Gains (Losses) on Hedging Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Total	$ (988)	$ 4,813	$ (2,520)	$ 7,509
Interest rate swap
Derivative Instruments, Gain (Loss) [Line Items]
Cash flow hedge (interest rate swap), net of tax	(554)	850	(1,065)	2,423
Cross-currency swap
Derivative Instruments, Gain (Loss) [Line Items]
Net investment hedge (cross-currency swap), net of tax	$ (434)	$ 3,963	$ (1,455)	$ 5,086

DERIVATIVE INSTRUMENTS AND HE_6

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Key Terms of Forward Exchange Contracts (Details) € in Thousands, kr in Thousands, $ in Thousands	Jun. 30, 2022 derivative	Jun. 21, 2022 USD ($) derivative	Jun. 21, 2022 NOK (kr) derivative	Jun. 21, 2022 EUR (€) derivative	Jun. 17, 2022 USD ($)	Jun. 17, 2022 EUR (€)
Forward Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Contracts	4	4	4	4
USD NOK Exchange | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Notional value		$ 294,555	kr 2,924,553
USD EURO Exchange | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Notional value		$ 16,640		€ 15,972	$ 6,436	€ 6,180
EURO NOK Exchange | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Notional value			kr 165,210	€ 15,972