SENSIENT TECHNOLOGIES CORP, 10-K filed on 2/13/2026
Annual Report
v3.25.4
Document and Entity Information - USD ($)
 12 Months Ended
Dec. 31, 2025
Feb. 03, 2026
Jun. 30, 2025
Cover [Abstract]      
Document Type 10-K    
Amendment Flag false    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
Current Fiscal Year End Date --12-31    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Document Transition Report false    
Entity File Number 001-07626    
Entity Registrant Name Sensient Technologies Corp    
Entity Central Index Key 0000310142    
Entity Incorporation, State or Country Code WI    
Entity Tax Identification Number 39-0561070    
Entity Address, Address Line One 777 EAST WISCONSIN AVENUE    
Entity Address, City or Town MILWAUKEE    
Entity Address, State or Province WI    
Entity Address, Postal Zip Code 53202-5304    
City Area Code 414    
Local Phone Number 271-6755    
Title of 12(b) Security Common Stock, $0.10 par value    
Trading Symbol SXT    
Security Exchange Name NYSE    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
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    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 4,117,864,471
Entity Common Stock, Shares Outstanding   42,506,700  
Auditor Firm ID 42    
Auditor Name Ernst & Young LLP    
Auditor Location Milwaukee, Wisconsin    
v3.25.4
CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CONSOLIDATED STATEMENTS OF EARNINGS [Abstract]      
Revenue $ 1,612,111 $ 1,557,228 $ 1,456,450
Cost of products sold 1,072,811 1,050,135 996,153
Selling and administrative expenses 332,172 315,514 305,274
Operating income 207,128 191,579 155,023
Interest expense 29,581 28,781 25,172
Earnings before income taxes 177,547 162,798 129,851
Income taxes 43,058 38,132 36,457
Net earnings $ 134,489 $ 124,666 $ 93,394
Earnings per common share:      
Basic (in dollars per share) $ 3.18 $ 2.96 $ 2.22
Diluted (in dollars per share) $ 3.16 $ 2.94 $ 2.21
Weighted average number of common shares outstanding:      
Basic (in shares) 42,236 42,145 42,027
Diluted (in shares) 42,595 42,396 42,242
v3.25.4
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]      
Net earnings $ 134,489 $ 124,666 $ 93,394
Cash flow hedges adjustment, net of tax expense (benefit) of $751, $(256), and $984, respectively 340 (1,307) 1,596
Pension adjustment, net of tax benefit of $(318), $(88), and $(72), respectively (1,044) (269) (287)
Foreign currency translation on net investment hedges (37,220) 17,996 (11,378)
Tax effect of current year activity on net investment hedges 9,245 (4,470) 2,826
Foreign currency translation on long-term intercompany loans (34,202) 12,026 (1,813)
Tax effect of current year activity on long-term intercompany loans 9,535 (4,430) 1,820
Other foreign currency translation 109,932 (74,268) 35,807
Total comprehensive income $ 191,075 $ 69,944 $ 121,965
v3.25.4
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]      
Cash flow hedges adjustment, net of tax expense (benefit) $ 751 $ (256) $ 984
Pension adjustment, net of tax benefit $ (318) $ (88) $ (72)
v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 36,533 $ 26,626
Trade accounts receivable 305,380 290,087
Inventories 678,220 600,302
Prepaid expenses and other current assets 59,717 44,871
Fixed assets held for sale 1,598 0
Total current assets 1,081,448 961,886
Other assets 102,362 96,276
Deferred tax assets 71,204 50,387
Intangible assets, net 10,121 11,883
Goodwill 439,706 411,775
Property, Plant, and Equipment:    
Land 34,898 32,369
Buildings 366,797 351,171
Machinery and equipment 858,762 804,385
Construction in progress 78,492 43,929
Property, plant, and equipment, gross 1,338,949 1,231,854
Less accumulated depreciation (799,653) (740,267)
Property, plant, and equipment, net 539,296 491,587
Total assets 2,244,137 2,023,794
Current Liabilities:    
Trade accounts payable 138,344 139,052
Accrued salaries, wages, and withholdings from employees 43,988 47,470
Other accrued expenses 65,652 52,026
Income taxes 15,247 12,243
Short-term borrowings 352 19,848
Total current liabilities 263,583 270,639
Deferred tax liabilities 13,651 14,607
Other liabilities 40,112 39,540
Accrued employee and retiree benefits 24,045 24,499
Long-term debt 709,232 613,523
Shareholders' Equity:    
Common stock, par value $0.10 a share, authorized 100,000,000 shares; issued 53,954,874 shares 5,396 5,396
Additional paid-in capital 123,668 117,500
Earnings reinvested in the business 1,847,014 1,782,139
Treasury stock, 11,685,819 and 11,779,321 shares, respectively, at cost (612,311) (617,210)
Accumulated other comprehensive loss (170,253) (226,839)
Total shareholders' equity 1,193,514 1,060,986
Total liabilities and shareholders' equity $ 2,244,137 $ 2,023,794
v3.25.4
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
Dec. 31, 2025
Dec. 31, 2024
Shareholders' Equity:    
Common stock, par value (in dollars per share) $ 0.1 $ 0.1
Common stock, shares authorized (in shares) 100,000,000 100,000,000
Common stock, shares issued (in shares) 53,954,874 53,954,874
Treasury stock, shares (in shares) 11,685,819 11,779,321
v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash Flows from Operating Activities      
Net earnings $ 134,489 $ 124,666 $ 93,394
Adjustments to arrive at net cash provided by operating activities:      
Depreciation and amortization 61,098 60,329 57,820
Share-based compensation expense 13,946 10,084 8,933
Net loss (gain) on assets 289 (140) 541
Portfolio Optimization Plan costs 5,273 1,415 24,089
Deferred income taxes (2,705) (18,598) (5,100)
Changes in operating assets and liabilities:      
Trade accounts receivable (1,106) (29,638) 35,801
Inventories (62,226) (18,295) (28,193)
Prepaid expenses and other assets (19,036) (5,407) 5,767
Trade accounts payable and other accrued expenses (1,445) 8,995 (5,978)
Accrued salaries, wages, and withholdings from employees (5,093) 22,518 (17,830)
Income taxes 1,839 (810) (1,175)
Other liabilities 2,503 2,032 1,628
Net cash provided by operating activities 127,826 157,151 169,697
Cash Flows from Investing Activities      
Acquisition of property, plant, and equipment (89,409) (59,212) (87,868)
Proceeds from sale of assets 496 339 156
Acquisition of new businesses (4,867) 0 (1,650)
Other investing activities 1,098 (336) 1,741
Net cash used in investing activities (92,682) (59,209) (87,621)
Cash Flows from Financing Activities      
Proceeds from additional borrowings 216,485 159,321 351,662
Debt payments (177,592) (167,073) (355,161)
Dividends paid (69,614) (69,399) (69,222)
Other financing activities (4,314) (4,395) (9,278)
Net cash used in financing activities (35,035) (81,546) (81,999)
Effect of exchange rate changes on cash and cash equivalents 9,798 (18,704) 7,936
Net increase (decrease) in cash and cash equivalents 9,907 (2,308) 8,013
Cash and cash equivalents at beginning of year 26,626 28,934 20,921
Cash and cash equivalents at end of year 36,533 26,626 28,934
Cash paid during the year for:      
Interest 29,356 29,107 24,443
Income taxes 48,806 56,744 39,681
Capitalized interest $ 1,551 $ 1,274 $ 1,984
v3.25.4
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($)
$ in Thousands
Common Stock [Member]
Additional Paid-In Capital [Member]
Earnings Reinvested in the Business [Member]
Treasury Stock [Member]
Accumulated Other Comprehensive (Loss) Income [Member]
Total
Beginning balance at Dec. 31, 2022 $ 5,396 $ 124,043 $ 1,702,700 $ (631,853) $ (200,688)  
Beginning balance (in shares) at Dec. 31, 2022       12,058,773    
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net earnings     93,394     $ 93,394
Other comprehensive income (loss)         28,571  
Cash dividends paid     (69,222)      
Share-based compensation   8,933        
Non-vested stock issued upon vesting   (14,987)   $ 14,987    
Non-vested stock issued upon vesting (in shares)       (286,019)    
Benefit plans   375   $ 952    
Benefit plans (in shares)       (18,172)    
Other   (2,423)   $ (6,854)    
Other (in shares)       130,816    
Ending balance at Dec. 31, 2023 5,396 115,941 1,726,872 $ (622,768) (172,117)  
Ending balance (in shares) at Dec. 31, 2023       11,885,398    
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net earnings     124,666     124,666
Other comprehensive income (loss)         (54,722)  
Cash dividends paid     (69,399)      
Share-based compensation   10,084        
Non-vested stock issued upon vesting   (7,838)   $ 7,838    
Non-vested stock issued upon vesting (in shares)       (149,579)    
Benefit plans   299   $ 1,122    
Benefit plans (in shares)       (21,405)    
Other   (986)   $ (3,402)    
Other (in shares)       64,907    
Ending balance at Dec. 31, 2024 5,396 117,500 1,782,139 $ (617,210) (226,839) $ 1,060,986
Ending balance (in shares) at Dec. 31, 2024       11,779,321   11,779,321
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net earnings     134,489     $ 134,489
Other comprehensive income (loss)         56,586  
Cash dividends paid     (69,614)      
Share-based compensation   13,946        
Non-vested stock issued upon vesting   (6,662)   $ 6,662    
Non-vested stock issued upon vesting (in shares)       (127,163)    
Benefit plans   394   $ 1,043    
Benefit plans (in shares)       (19,899)    
Other   (1,510)   $ (2,806)    
Other (in shares)       53,560    
Ending balance at Dec. 31, 2025 $ 5,396 $ 123,668 $ 1,847,014 $ (612,311) $ (170,253) $ 1,193,514
Ending balance (in shares) at Dec. 31, 2025       11,685,819   11,685,819
v3.25.4
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY [Abstract]      
Cash dividends per share (in dollars per share) $ 1.64 $ 1.64 $ 1.64
v3.25.4
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2025
Summary of Significant Accounting Policies [Abstract]  
Summary of Significant Accounting Policies
1. Summary of Significant Accounting Policies

Nature of Operations
Sensient Technologies Corporation, together with its subsidiaries (the Company or Sensient), is a leading global manufacturer and marketer of colors, flavors, and other specialty ingredients. The Company uses advanced technologies at facilities around the world to develop specialty food and beverage systems; personal care, essential oils, pharmaceutical, and nutraceutical systems; specialty colors; and other specialty and fine chemicals. The Company’s three reportable segments are the Flavors & Extracts Group and the Color Group, which are managed on a product line basis, and the Asia Pacific Group, which is managed on a geographic basis. The Company’s corporate expenses, share-based compensation (except for share-based compensation expense associated with stock grants to certain business unit leaders), restructuring and other charges, including the Portfolio Optimization Plan costs, and other costs are included in the “Corporate & Other” category.

Principles of Consolidation and Basis of Presentation
The consolidated financial statements include the accounts of the Company and have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). All significant intercompany accounts and transactions have been eliminated in consolidation.

Use of Estimates
The preparation of the consolidated financial statements requires the use of management’s estimates and assumptions that affect reported amounts of assets, liabilities, revenue, and expenses during the reporting period and the disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates.

Revenue Recognition
The Company recognizes revenue at the transfer of control of its products to the Company’s customers in an amount reflecting the consideration to which the Company expects to be entitled. In order to achieve this core principle, the Company applies the following five-step approach:

•
Identification of the contract, or contracts, with a customer
•
Identification of the performance obligations in the contract
•
Determination of the transaction price
•
Allocation of the transaction price to the performance obligations in the contract
•
Recognition of revenue when, or as, the Company satisfies the performance obligations

The Company considers customer purchase orders, which in some cases are governed by master sales or supply agreements, coupled with the Company’s purchase order acceptances, to be the contracts with the customer. For each contract, the Company considers the identified performance obligation to be the promise to transfer products. In determining the transaction price, the Company evaluates whether the price is subject to refund or adjustment and then determines the net consideration to which the Company expects to be entitled. In addition, the Company assesses the customer’s ability to pay as part of its evaluation of the contract. As the Company’s standard payment terms are less than one year, the Company elected the practical expedient under Accounting Standards Codification (ASC) 606-10-32-18, and determined that its contracts do not have a significant financing component. The Company allocates the transaction price to each distinct product based on the relative standalone selling price. Revenue is recognized when control of the product is transferred to the customer, the customer is obligated to pay the Company, and the Company has no remaining obligations, which is typically at shipment. In certain locations, primarily outside the United States, product delivery terms may vary. Thus, in such locations, the point at which control of the product transfers to the customer and revenue recognition occurs will vary accordingly.

Customer returns of non-conforming products are estimated at the time revenue is recognized. In certain customer relationships, volume rebates exist, which are recognized according to the terms and conditions of the contractual relationship. Customer returns, rebates, and discounts are not material to the Company’s consolidated financial statements. The Company has elected to recognize the revenue and cost for freight and shipping when control over the products has been transferred to the customer. The Company has elected to immediately expense contract costs related to obtaining a contract as the amortization period of the asset the Company otherwise would have recognized would have been less than a year.

In addition to evaluating the Company’s performance based on the segments above, revenue is also disaggregated and analyzed by product line and geographic market (See Note 12 Segment and Geographic Information, for further information).

Cost of Products Sold
Cost of products sold includes materials, labor, and overhead expenses incurred in the manufacture of our products. Cost of products sold also includes charges for obsolete and slow-moving inventories as well as costs for quality control, purchasing and receiving costs, inspection costs, warehousing costs, internal transfer costs, other costs of our internal distribution network, and costs incurred for shipping and handling. The Company records fees billed to customers for shipping and handling as revenue.

Selling and Administrative Expenses
Selling and administrative expenses primarily include the salaries and related costs for executive, finance, accounting, human resources, information technology, research and development, and legal personnel as well as salaries and related costs of salespersons and commissions paid to external sales agents.

Cash Equivalents
The Company considers all highly liquid investments with original maturities of three months or less at the date of acquisition as cash equivalents.

Accounts Receivable
Receivables are recorded at their face amount, less an allowance for losses on doubtful accounts. The allowance for doubtful accounts is based on customer-specific analysis and general matters such as current assessments of past due balances and economic conditions. Specific accounts are written off against the allowance for doubtful accounts when it is deemed that the receivable is no longer collectible.

Inventories
Inventories are stated at the lower of cost or net realizable value. Net realizable value is determined on the basis of estimated realizable values. Cost is determined using the first-in, first-out (FIFO) method. Inventories include finished and in-process products totaling $491.4 million and $426.8 million at December 31, 2025 and 2024, respectively, and raw materials and supplies of $186.8 million and $173.5 million at December 31, 2025 and 2024, respectively.

The Company recorded non-cash charges of $4.3 million and $0.7 million in Cost of Products Sold related to the Portfolio Optimization Plan in 2025 and 2024, respectively. The non-cash charges in 2025 reduced the carrying value of certain inventories, as they were determined to be excess, and the charges in 2024 were primarily related to trial production runs that did not meet quality specifications and thus were disposed of. See Note 14, Portfolio Optimization Plan, for additional information.

Property, Plant, and Equipment
Property, plant, and equipment are recorded at cost reduced by accumulated depreciation. Depreciation is provided over the estimated useful life of the related asset using the straight-line method for financial reporting. The estimated useful lives for buildings and leasehold improvements range from 5 to 40 years. Machinery and equipment have estimated useful lives ranging from 3 to 20 years. Interest costs on significant projects constructed or developed for the Company’s own use are capitalized as part of the asset.

Goodwill and Other Intangible Assets
The carrying value of goodwill is evaluated for impairment on an annual basis or more frequently when an indicator of impairment occurs. The impairment assessment includes comparing the carrying amount of net assets, including goodwill, of each reporting unit to its respective fair value as of the date of the assessment. Fair value was estimated based upon an evaluation of the reporting unit’s estimated future discounted cash flows as well as the public trading and private transaction valuation multiples for comparable companies. The Company performed such a quantitative analysis in 2025, which indicated a substantial premium compared to the carrying value of net assets, including goodwill, at the reporting unit level. In 2024 and 2023, the Company completed a qualitative assessment noting no indicators of impairment. The Company did not record impairment charges for any of its reporting units in 2025, 2024, or 2023.

The cost of intangible assets with determinable useful lives is amortized on a straight-line basis to reflect the pattern of economic benefits consumed, ranging from 5 to 25 years. These assets include technological know-how, customer relationships, patents, trademarks, trade secrets, and non-compete agreements, among others.

Impairment of Long-lived Assets
The Company reviews long-lived assets for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. The Company performs undiscounted cash flow analyses to determine if potential impairment exists. If impairment is determined to exist, any related impairment loss is calculated based on the difference between fair value and carrying value. Impairment losses were recorded as a result of the Company’s Portfolio Optimization Plan in 2023. See Note 14, Portfolio Optimization Plan, for additional information.

Leases
The Company enters into lease agreements for certain office space, warehouses, land, and equipment in the ordinary course of business. The Company determines if an arrangement is a lease at inception and evaluates the lease classification (i.e., operating lease or financing lease) at that time. Lease arrangements with an initial term of 12 months or less are considered short-term leases and are not recorded on the balance sheet. The Company recognizes lease expense for these leases on a straight-line basis over the term of the lease.

Operating leases are included in Other Assets, Other Accrued Expenses, and Other Liabilities on the Company’s Consolidated Balance Sheet. Operating lease right-of-use assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term.

The Company uses its incremental borrowing rate on the commencement date for determining the present value of lease payments. The Company considers the likelihood of exercising options to extend or terminate the lease when determining the lease term.

The Company has lease agreements with lease and non-lease components. The Company has elected the practical expedient of accounting for the lease and non-lease components of each lease as a single lease component.

Derivative Financial Instruments
The Company selectively uses derivative financial instruments to reduce market risk associated with changes in foreign currency and interest rate exposures, which exist as part of ongoing business operations. All derivative transactions are authorized and executed pursuant to the Company’s risk management policies and procedures, which strictly prohibit the use of financial instruments for speculative trading purposes.

The primary objectives of the foreign exchange risk management activities are to understand and mitigate the impact of potential foreign exchange fluctuations on the Company’s financial results and its economic well-being. Changes in the fair value of derivatives that are designated as fair value hedges, along with the gain or loss on the hedged item, are recorded in current period earnings. These risk management transactions may involve the use of foreign currency derivatives to protect against exposure resulting from recorded accounts receivable and payable. The Company may utilize forward exchange contracts, generally with maturities of less than 18 months, which qualify as cash flow hedges. Generally, these foreign exchange contracts are intended to offset the effect of exchange rate fluctuations on non-functional currency denominated sales and purchases. For derivative instruments that are designated as cash flow hedges, gains and losses are deferred in Accumulated Other Comprehensive Loss (OCL) until the underlying transaction is recognized in earnings.

For hedges designated as cash flow hedges, the Company elects critical terms that match at the onset of the hedge transaction. Hedge accounting is permitted only if the hedge meets the critical terms match requirements. The Company reviews the critical terms at each effectiveness testing date to ensure the respective terms match; therefore, achieving a highly effective hedge.

Interest Rate Hedging
The Company is exposed to interest rate risk through its corporate borrowing activities. The objective of the Company’s interest rate risk management activities is to manage the levels of the Company’s fixed and floating interest rate exposure to be consistent with the Company’s preferred mix. The interest rate risk management program may include entering into interest rate swaps, which qualify as fair value hedges, when there is a desire to modify the Company’s exposure to interest rates. Gains or losses on fair value hedges are recognized in earnings, net of gains and losses on the fair value of the hedged instruments.

Net Investments Hedging
The Company is exposed to risk related to its net investments in foreign subsidiaries. As part of its risk management activities, the Company may enter into foreign-denominated debt to be used as a non-derivative instrument to hedge the Company’s net investment in foreign subsidiaries. The change in the fair value of debt designated as a net investment hedge is recorded in foreign currency translation in OCL.

Commodity Purchases
The Company purchases certain commodities in the normal course of business that result in physical delivery of the goods and, hence, are excluded from ASC 815, Derivatives and Hedging.

Translation of Foreign Currencies
For all significant foreign operations, the functional currency is the local currency. Assets and liabilities of foreign operations are translated into U.S. dollars at current exchange rates. Revenue and expense accounts are translated into U.S. dollars at average exchange rates prevailing during the year. Adjustments resulting from the translation of foreign accounts into U.S. dollars are recorded in foreign currency translation in OCL. Transaction gains and losses that occur as a result of transactions denominated in non-functional currencies are included in earnings and were not significant during the years ended December 31, 2025, 2024, and 2023.

Share-Based Compensation
Share-based compensation expense is recognized over the vesting period of each award based on the fair value of the instrument at the time of grant as summarized in Note 8, Share-Based Compensation.

Income Taxes
The Company recognizes a current tax liability or asset for the estimated taxes payable or refundable on tax returns for the current year and a deferred tax liability or asset for the estimated future tax effects attributable to temporary differences and carryforwards. The measurement of current and deferred tax liabilities and assets is based on provisions of enacted tax law. Deferred tax assets are reduced, if necessary, by the amount of any tax benefits for which the utilization of the asset is not considered likely.

Earnings Per Share
The difference between basic and diluted earnings per share (EPS) is the dilutive effect of non-vested stock. Diluted EPS assumes that non-vested stock has vested.

The following table sets forth the computation of basic and diluted EPS for the years ended December 31:

 
  
Years Ended December 31,
  
(In thousands except per share amounts)
  
2025
    
2024
    
2023
  
Numerator:
                  
Net earnings
  
$
134,489
    
$
124,666
    
$
93,394
  
Denominator:
                        
Denominator for basic EPS - weighted average common shares
    
42,236
      
42,145
      
42,027
  
Effect of dilutive securities
    
359
      
251
      
215
  
Denominator for diluted EPS - diluted weighted average shares outstanding
    
42,595
      
42,396
      
42,242
  
 
                        
Earnings per Common Share:
                        
Basic
  
$
3.18
    
$
2.96
    
$
2.22
  
Diluted
  
$
3.16
    
$
2.94
    
$
2.21
  

The Company has a share-based compensation plan under which employees may be granted share-based awards, in which non-forfeitable dividends are paid on non-vested shares for certain awards. As such, these shares are considered participating securities under the two-class method of calculating EPS as described in ASC 260, Earnings per Share. The two-class method of calculating EPS did not have a material impact on the Company’s EPS calculations as of December 31, 2025, 2024, and 2023.

All EPS amounts are presented on a diluted basis unless otherwise noted.

Accumulated Other Comprehensive Income (Loss)
OCL is composed primarily of foreign currency translation, pension liability, and unrealized gains or losses on cash flow hedges. See Note 10, Accumulated Other Comprehensive Loss, for additional information.

Research and Development
Research and development costs are recorded in Selling and Administrative Expenses in the year they are incurred. Research and development costs were $52.9 million, $49.1 million, and $48.1 million, during the years ended December 31, 2025, 2024, and 2023, respectively.

Advertising
Advertising costs are recorded in Selling and Administrative Expenses as they are incurred. Advertising costs were $3.2 million, $2.6 million, and $2.5 million, during the years ended December 31, 2025, 2024, and 2023, respectively.

Environmental Liabilities
The Company records liabilities related to environmental remediation obligations when estimated future expenditures are probable and reasonably estimable. Such accruals are adjusted as further information becomes available or as circumstances change. Estimated future expenditures are discounted to their present value when the timing and amount of future cash flows are fixed and readily determinable. Recoveries of remediation costs from other parties, if any, are recognized as assets when their receipt is realizable.

Subsequent Events
The Company performed an evaluation of subsequent events through the date these financial statements were issued. See Note 16, Subsequent Event, for additional information.

Recently Adopted Accounting Pronouncements
In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires the Company to disclose specified additional information in its income tax rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. This ASU also requires the Company to disaggregate its income taxes paid disclosure by federal, state, and foreign taxes, with further disaggregation required for significant individual jurisdictions. This ASU is effective for fiscal years beginning after December 15, 2024. The Company adopted this ASU in the fourth quarter of 2025 using a prospective transition method. The Company updated the disclosures included in Note 11, Income Taxes, as a result of adopting this ASU, and the adoption did not have a material impact on the Company’s consolidated financial statements.

Recently Issued Accounting Pronouncements
In November 2024, the FASB issued ASU No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40) – Disaggregation of Income Statement Expenses, which will require the Company to disclose disaggregated information about certain income statement expense line items. This ASU is effective for fiscal years beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027. The Company is currently evaluating the potential impact of this standard on its consolidated financial statements and its related disclosures.

Other recently issued accounting pronouncements are not expected to have a material impact on the Company’s consolidated financial statements.
v3.25.4
Acquisition
 12 Months Ended
Dec. 31, 2025
Acquisition [Abstract]  
Acquisition
2. Acquisition

On February 14, 2025, the Company acquired Biolie SAS, a natural color extraction business located in France. The Company paid $4.9 million in cash for this acquisition, which is net of $0.2 million in debt assumed. The assets acquired and liabilities assumed were recorded at their estimated fair value as of the acquisition date. The Company acquired net assets of $0.3 million, with the remaining $4.6 million allocated to goodwill. This business is part of the Color segment.
v3.25.4
Trade Accounts Receivable
 12 Months Ended
Dec. 31, 2025
Trade Accounts Receivable [Abstract]  
Trade Accounts Receivable
3. Trade Accounts Receivable

Trade accounts receivables are recorded at their face amount, less an allowance for expected losses on doubtful accounts. The allowance for doubtful accounts is calculated based on customer-specific analysis and an aging methodology using historical loss information. The Company believes historical loss information is a reasonable basis for expected credit losses as the Company’s historical credit loss experience correlates with its customer delinquency status. This information is also adjusted for any known current economic conditions. Forecasted economic conditions have not had a significant impact on the current credit loss estimate due to the short-term nature of the Company’s customer receivables; however, the Company will continue to monitor and evaluate the rapidly changing economic conditions. Additionally, as the Company only has one portfolio segment, there are not different risks between portfolios. Specific accounts are written off against the allowance for doubtful accounts when the receivable is deemed no longer collectible.

The following table summarizes the changes in the allowance for doubtful accounts for the years ended December 31, 2025 and 2024:

(In thousands)
  
Allowance for
Doubtful Accounts
  
Balance at December 31, 2023
  
$
4,373
  
Provision for expected credit losses
    
1,527
  
Accounts written off
    
(596
)
Translation and other activity
    
(281
)
Balance at December 31, 2024
  
$
5,023
  
Provision for expected credit losses
     288  
Accounts written off
     (488 )
Translation and other activity
     305
Balance at December 31, 2025   $ 5,128  
v3.25.4
Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets [Abstract]  
Goodwill and Intangible Assets
4. Goodwill and Intangible Assets

At December 31, 2025 and 2024, goodwill is the only intangible asset that is not subject to amortization. The following table summarizes intangible assets with determinable useful lives by major category as of December 31, 2025 and 2024:

 
        
2025
    
2024
  
(In thousands except weighted average amortization years)
  
Weighted
Average
Amortization
Years
    
Cost
    
Accumulated
Amortization
    
Cost
    
Accumulated
Amortization
  
 
                              
Technological know-how
    
11.7
    
$
6,672
    
$
(4,351
)
  
$
6,643
    
$
(3,119
)
Customer relationships
    
19.0
      
9,637
      
(4,206
)
    
9,611
      
(3,672
)
Patents, trademarks, non-compete agreements, and other
    
15.4
      
12,749
      
(10,380
)
    
12,121
      
(9,701
)
Total finite-lived intangibles
    
15.8
    
$
29,058
    
$
(18,937
)
  
$
28,375
    
$
(16,492
)

Amortization of intangible assets was $2.1 million in 2025, $1.7 million in 2024, and $2.3 million in 2023. Estimated amortization expense, for the five years subsequent to December 31, 2025, is $1.6 million in 2026; $1.2 million in 2027; $1.0 million in 2028; $0.9 million in 2029; and $0.9 million in 2030.

The changes in goodwill for the years ended December 31, 2025 and 2024, by reportable business segment, were as follows:

(In thousands)
  
Flavors &
Extracts
    
Color
    
Asia Pacific
    
Consolidated
  
Balance as of December 31, 2023
  
$
103,313
    
$
316,181
    
$
4,571
    
$
424,065
  
Currency translation impact
    
(3,070
)
    
(9,001
)
    
(219
)
    
(12,290
)
Balance as of December 31, 2024
  
$
100,243
    
$
307,180
    
$
4,352
    
$
411,775
  
Currency translation impact
    
5,060
      
18,254
      
60
      
23,374
  
Acquisitions(1)
     -       4,557       -       4,557  
Balance as of December 31, 2025
  
$
105,303
    
$
329,991
    
$
4,412
    
$
439,706
  

(1)
 In 2025, the Company acquired Biolie SAS. See Note 2, Acquisitions, for additional information.

v3.25.4
Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases
5. Leases

The Company leases certain office space, warehouses, land, and equipment under operating lease arrangements. Some of the Company’s leases include options to extend the leases for up to an additional five years. Some of the Company’s lease agreements also include rental payments that are adjusted periodically for inflation (i.e., Consumer Price Index).

The Company recorded operating lease expense, which includes short-term lease expense and variable lease costs, of $14.0 million, $13.4 million, and $11.9 million during the years ended December 31, 2025, 2024, and 2023, respectively.

For the years ended December 31, 2025, 2024, and 2023, the Company paid $13.3 million, $11.5 million, and $10.3 million, respectively, in cash for operating leases, not including short-term lease expense or variable lease costs. The Company entered into operating leases that resulted in $12.0 million, for the year ended December 31, 2025, and $9.0 million, for each of the years ended December 31, 2024 and 2023, of right-of-use assets in exchange for operating lease obligations.

The Company included $39.9 million and $36.4 million of right-of-use assets in Other Assets on the Company’s Consolidated Balance Sheets as of December 31, 2025 and 2024, respectively. The Company included $29.2 million and $28.7 million of operating lease liabilities in Other Liabilities on the Company’s Consolidated Balance Sheets as of December 31, 2025 and 2024, respectively. The Company included $10.6 million and $7.7 million of operating lease liabilities in Other Accrued Expenses on the Company’s Consolidated Balance Sheets as of December 31, 2025 and 2024, respectively.

The Company’s weighted average remaining operating lease term was 5.6 years and 6.9 years as of December 31, 2025 and 2024, respectively. The Company’s weighted average discount rate for operating leases was 4.57% and 4.20% as of December 31, 2025 and 2024, respectively.

As of December 31, 2025, maturities of operating lease liabilities for future annual periods are as follows:

(In thousands)
      
Year ending December 31,
      
2026
  
$
12,296
  
2027
    
10,531
  
2028
    
5,755
  
2029
    
4,767
  
2030
    
3,662
  
Thereafter
    
8,619
  
Total lease payments
    
45,630
  
Less imputed interest
    
(5,805
)
Present value of lease liabilities
  
$
39,825
  
v3.25.4
Debt
 12 Months Ended
Dec. 31, 2025
Debt [Abstract]  
Debt
6. Debt

Long-term Debt
Long-term debt consisted of the following obligations at December 31:

(In thousands)
  
2025
    
2024
  
4.19% senior notes due November 2025
   $
-
     $
25,000
  
6.08% senior notes due November 2026     35,000       35,000  
6.14% senior notes due November 2027     35,000       35,000  
4.94% senior notes due May 2028     75,000       75,000  
4.83% senior notes due November 2029     60,000       -  
6.34% senior notes due November 2029     35,000       35,000  
1.71% Euro-denominated senior notes due May 2027
    
46,981
      
41,416
  
4.15% Euro-denominated senior notes due May 2028     46,981       41,416  
4.62% Euro-denominated senior notes due November 2029     46,981       41,416  
2.76% British Pound-denominated notes due November 2025
    
-
      
31,289
  
Euro-denominated term loan
    
88,090
      
77,657
  
Revolving Credit Facilities
    
240,488
      
175,125
  
Various other notes
    
369
      
536
  
Total debt
    
709,890
      
613,855
  
Less debt fees
    
(429
)
    
(133
)
Less current portion
    
(229
)
    
(199
)
Total long-term debt
  
$
709,232
    
$
613,523
  

In June 2025, the Company entered into a Fourth Amended and Restated Credit Agreement (Credit Agreement). The Credit Agreement provides for a $400 million senior unsecured revolving credit facility, with up to $20 million of the facility being available as a sub-facility for standby and commercial letters of credit and sub-limits of up to $50 million on swing line loans. The Credit Agreement amended and restated the Company’s Third Amended and Restated Credit Agreement to, among other things, (i) increase the aggregate revolving commitment amount from $350 million to $400 million, (ii) increase the incremental revolving commitment from $100 million to $150 million, (iii) extend the maturity of the Company’s revolving credit facility from May 2026 to June 2030, and (iv) modify certain other provisions. Funds are available in U.S. dollars, Euros, English pounds, and other major currencies. Proceeds from the facility have been and will be used to refinance existing indebtedness of the Company, for working capital, and other general corporate purpose needs, including capital expenditures, of the Company.

In June 2025, the Company also amended its term loan agreement (Term Loan) with PNC Bank, N.A (PNC Bank) to extend the maturity date from November 2025 to June 2027. The term loan acts as a partial hedge of the Company’s net asset position in Euros. See Note 7, Derivative Instruments and Hedging Activity, for additional information. Borrowings on the Term Loan bear interest at a variable rate, based upon the Eurocurrency Rate and including a margin percentage of 1.125%. The average interest rate on the Term Loan was 3.30% for the year ended December 31, 2025.

In June 2025, the Company also amended its accounts receivable securitization program with Wells Fargo Bank N.A. (Wells Fargo) to, among other things, (i) increase the facility limit from $85 million to $105 million and (ii) extend the termination date from August 2025 to August 2026. Under the amended program, Wells Fargo has extended a secured loan (Secured Loan) of up to $105 million to the Company secured by Wells Fargo’s undivided interests in certain of the Company’s trade accounts receivables. The interest rate on the Secured Loan is the Daily One Month Term SOFR as administered by CME Group Benchmark Administration Limited plus an Applicable Margin of 77.5 basis points. The Company has the intent and ability either to refinance the Secured Loan with available funds from the Company’s existing long-term revolving credit facility or to extend its accounts receivable program with Wells Fargo when it matures. Accordingly, the Secured Loan has been classified as long-term debt on the Company’s Consolidated Balance Sheet and is included with the Revolving Credit Facilities above. As of December 31, 2025, the amount was fully drawn.

In November 2025, the Company entered into an Amended and Restated Consolidated Note Purchase and Master Note Agreement (Master Note Agreement) with the purchasers named therein. The Master Note Agreement consolidates all existing senior note purchase agreements of the Company into a single senior note purchase agreement and concurrently amends and restates the note purchase agreement to be in the form of the Master Note Agreement. The Master Note Agreement provides a framework for the issuance of up to an aggregate of $825 million of notes, including the existing outstanding senior notes, with a three-year draw period, but does not include commitments by any purchaser to purchase additional notes beyond those already outstanding. The notes drawn during this period can have maturity dates up to 12 years from the date of issuance.

In November 2025, the Company issued $60 million of U.S. dollar-denominated senior notes under the Master Note Agreement, maturing in November 2029 and bearing an interest rate of 4.83%. The proceeds were used to repay the Company’s existing $25 million 4.19% senior notes due November 1, 2025 and £25 million 2.76% senior notes due November 1, 2025.

The borrowings under the revolving credit facility, excluding borrowings on the accounts receivable securitization program, had an average interest rate of 4.44% and 5.46% for the years ended December 31, 2025 and 2024, respectively.

The aggregate amounts of contractual maturities on long-term debt subsequent to December 31, 2025, are as follows:

(In thousands)
      
Year ending December 31,
      
2026
   $
139,845
  
2027
    
170,103
  
2028
    
121,889
  
2029
    
141,907
  
2030
     135,488
  
Total long-term debt maturities
  
$
709,232
  

The Company had $261.2 million available under the revolving credit facility and $6.0 million available under other lines of credit from several banks at December 31, 2025.

Substantially all of the senior financing obligations contain restrictions concerning interest coverage, borrowings, and investments. The most restrictive loan covenants require a Leverage Ratio less than 3.5 and an Interest Coverage Ratio greater than 3.0, in each case, as defined in the Company’s Credit Agreement. The Company is in compliance with all of these restrictions at December 31, 2025.

The Company had stand-by and trade letters of credit outstanding of $3.3 million and $3.4 million as of December 31, 2025 and 2024, respectively.

Short-term Borrowings
The Company’s short-term borrowings consisted of the following items at December 31:

(In thousands)
  
2025
    
2024
  
U.S. credit facilities
  
$
-
    
$
18,382
  
Current maturities of long-term debt
    
229
      
199
  
Loans of foreign subsidiaries
     123
       1,267
  
Total
  
$
352
    
$
19,848
  

The weighted average interest rates on short-term borrowings were 5.03% and 5.67% at December 31, 2025 and 2024, respectively.
v3.25.4
Derivative Instruments and Hedging Activity
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activity [Abstract]  
Derivative Instruments and Hedging Activity
7. Derivative Instruments and Hedging Activity

The Company may use derivative instruments for the purpose of hedging currency, commodity, and interest rate exposures, which exist as part of ongoing business operations. As a policy, the Company does not engage in speculative or leveraged transactions, nor does the Company hold or issue financial instruments for trading purposes. Hedge effectiveness is determined by how closely the changes in the fair value of the hedging instrument offset the changes in the fair value or cash flows of the hedged transaction. Hedge accounting, which generally results in the deferral of derivative gains and losses until such time as the underlying transaction is recognized in net earnings, is permitted only if the hedging relationship is expected to be highly effective at the inception of the transaction and on an ongoing basis.

The Company manages its exposure to foreign exchange risk by the use of forward exchange contracts to reduce the effect of fluctuating foreign currencies on non-functional currency sales, purchases, and other known foreign currency exposures. These forward exchange contracts generally have maturities of less than 18 months. The Company also uses certain debt denominated in foreign currencies to manage the net asset positions of the Company’s foreign subsidiaries. The Company’s primary hedging activities and their accounting treatment are summarized below.

Forward Exchange Contracts
Certain forward exchange contracts have been designated as cash flow hedges. The Company had $49.9 million and $70.3 million of forward exchange contracts, designated as cash flow hedges, outstanding as of December 31, 2025 and 2024, respectively, and are recorded in Other Accrued Expenses on the Company’s Consolidated Balance Sheets as of December 31, 2025 and 2024, respectively. For the year ended December 31, 2025, a gain of $1.7 million was reclassified into net earnings in the Company’s Consolidated Statement of Earnings that offset the earnings impact of the related non-functional asset or liability hedged in the same period. For the year ended December 31, 2024, the amount reclassified into net earnings in the Company’s Consolidated Statements of Earnings that offset the earnings impact of the related non-functional asset or liability hedged in the same period was not material. For the year ended December 31, 2023, a gain of $2.2 million was reclassified into net earnings in the Company’s Consolidated Statement of Earnings that offset the earnings impact of the related non-functional asset or liability hedged in the same period. In addition, the Company utilizes forward exchange contracts that are not designated as cash flow hedges and the results of these transactions are not material to the financial statements.

Net Investment Hedges
The Company has designated certain foreign currency denominated long-term borrowings as partial hedges of the Company’s foreign currency net asset positions. As of December 31, 2025, the total value of the Company’s net investment hedges, which included Euro denominated long-term debt, was $309.5 million. As of December 31, 2024, the total value of the Company’s net investment hedges, which included Euro and British Pound denominated long-term debt, was $295.3 million. Changes in the fair value of this debt attributable to changes in the spot foreign exchange rate are recorded in foreign currency translation in OCL. The impact of foreign exchange rates on these debt instruments increased debt by $37.2 million and decreased debt by $18.0 million for the years ended December 31, 2025, and 2024, respectively, and are recorded as foreign currency translation in OCL.

Concentrations of Credit Risk
Counterparties to forward exchange contracts consist of large international financial institutions. While these counterparties may expose the Company to potential losses due to the credit risk of non-performance, losses are not anticipated. Concentrations of credit risk with respect to trade accounts receivable are limited by the large number of customers, generally short payment terms, and their dispersion across geographic areas.
v3.25.4
Share-Based Compensation
 12 Months Ended
Dec. 31, 2025
Share-Based Compensation [Abstract]  
Share-Based Compensation
8. Share-Based Compensation

In April 2022, the shareholders of the Company approved the Amended and Restated 2017 Stock Plan authorizing 2.15 million shares for issuance as non-vested stock in the form of restricted stock, restricted stock units, performance stock units, non-qualified stock options, incentive stock options, and stock appreciation rights. As of December 31, 2025, there were 0.5 million shares available to issue as non-vested stock under the Company’s Amended and Restated 2017 Stock Plan. The Company may also issue up to 0.2 million shares of stock pursuant to its 1999 Amended and Restated Directors Deferred Compensation Plan.

The Company recognizes expense for shares of non-vested stock over a three-year vesting period with a pro-rata vesting upon retirement. During the period of restriction, the holder of non-vested stock has voting rights and is entitled to receive all dividends and other distributions paid with respect to the stock. The holders of performance stock units are not entitled to vote or receive dividends and other distributions paid with respect to the stock, until the units have vested and shares of stock issued.

Grants issued to elected officers consist of 60% performance stock unit awards and 40% non-vested restricted stock awards. The performance stock unit awards are based on a three-year performance period and a three-year vesting period with a pro-rata vesting upon retirement. Starting with the December 2024 grant, grants issued to certain business unit leaders also consist of 60% performance stock unit awards and 40% non-vested restricted stock awards, in each case as described above. Three-year performance that exceeds the stated performance metrics, would result in an award up to 150% of the original grant for business unit leaders and up to 200% for elected officers. For the December 2025 performance stock grant to elected officers, enhanced payout levels were included to allow for additional payouts up to 2.5 times the 200% payout level, if the stated enhanced performance criteria are met.

The Company expenses awards for non-vested stock, including time-vesting stock and performance stock units, based on the fair value of the Company’s common stock at the date of the grant. The Company recognizes the impact from forfeitures as they occur.

The December 2019, December 2020, and December 2021 performance stock unit awards, which were based on the three-year performance period of January 1, 2020 to December 31, 2022, January 1, 2021 to December 31, 2023, and January 1, 2022 to December 31, 2024, respectively, exceeded the stated performance metrics, which resulted in an award payout of 200%, 124%, and 102%, respectively, of the original grant upon vesting in February 2023, February 2024, and February 2025, respectively.

The following table summarizes the non-vested stock and performance stock unit activity:

 
(In thousands except fair value)
  
Shares
    
Grant Date
Weighted Average
Fair Value
    
Aggregate Intrinsic
Value
  
Outstanding at December 31, 2022
    
519
    
$
73.19
    
$
37,883
  
Granted
    
201
      
61.61
          
Vested, net
    
(179
)
    
63.02
          
Cancelled
    
(5
)
    
72.45
          
Outstanding at December 31, 2023
    
536
      
72.26
      
35,383
  
Granted
    
190
      
71.79
          
Vested, net
    
(115
)
    
79.47
          
Cancelled
    
(70
)
    
70.87
          
Outstanding at December 31, 2024
    
541
      
70.74
      
38,517
  
Granted
    
178
      
90.41
          
Vested, net
    
(112
)
    
81.48
          
Cancelled
    
(27
)
    
81.89
          
Outstanding at December 31, 2025
    
580
    
$
74.18
    
$
54,453
  

The total intrinsic values of shares vested during 2025, 2024, and 2023, were $10.2 million, $10.1 million, and $20.3 million, respectively.

As of December 31, 2025, total remaining unearned compensation, net of expected forfeitures, related to non-vested stock and performance stock units was $28.2 million, which will be amortized over the weighted average remaining service period of 2.3 years.

Total pre-tax share-based compensation expense recognized in the Consolidated Statements of Earnings was $13.9 million, $10.1 million, and $8.9 million in 2025, 2024, and 2023, respectively. The Company also recognized tax related benefits of $1.5 million, $1.0 million, and $1.1 million in 2025, 2024, and 2023, respectively.
v3.25.4
Retirement Plans
 12 Months Ended
Dec. 31, 2025
Retirement Plans [Abstract]  
Retirement Plans
9. Retirement Plans

The Company provides benefits under defined contribution plans including a savings plan and an employee stock ownership plan (ESOP). The savings plan covers substantially all domestic salaried and certain non-union hourly employees and provides for matching contributions up to 4% of each employee’s salary. The ESOP covers substantially all domestic employees and provides for contributions based on a percentage of each employee’s compensation as determined by the Company’s Board of Directors. Total expense for the Company’s defined contribution plans was $9.1 million in 2025, $8.0 million in 2024, and $8.2 million in 2023.

Although the Company intends for these defined contribution plans to be the primary retirement benefit for most employees, the Company also has several defined benefit plans. The funded status of the defined benefit plans was as follows at December 31:

(In thousands)
  
2025
    
2024
  
Benefit obligation at beginning of year
  
$
30,887
    
$
36,413
  
Service cost
    
1,506
      
1,736
  
Interest cost
    
1,817
      
1,839
  
Foreign currency exchange rate changes
    
1,284
      
(979
)
Benefits paid
    
(1,854
)
    
(5,266
)
Actuarial loss (gain)
    
678
      
(2,856
)
Benefit obligation at end of year
    
34,318
      
30,887
  
Plan assets at beginning of year
    
18,972
      
21,270
  
Company contributions
    
801
      
4,192
  
Foreign currency exchange rate changes
    
1,137
      
(544
)
Benefits paid
    
(1,854
)
    
(5,266
)
Actual gain (loss) on plan assets
    
714
      
(680
)
Plan assets at end of year
    
19,770
      
18,972
  
Funded status
  
$
(14,548
)
  
$
(11,915
)
Accumulated benefit obligation
  
$
32,315
    
$
29,480
  

Amounts recognized in the Consolidated Balance Sheets at December 31:

(In thousands)
  
2025
    
2024
  
Accrued employee and retiree benefits
   $ (14,226 )  
$
(15,882
)
Other accrued expenses
    
(4,991
)
    
(693
)
Other assets
    
4,669
      
4,660
  
Net liability
  
$
(14,548
)
  
$
(11,915
)

Components of annual benefit cost:

(In thousands)
  
2025
    
2024
    
2023
  
Service cost
  
$
1,506
    
$
1,736
    
$
1,741
  
Interest cost
    
1,817
      
1,839
      
1,886
  
Expected return on plan assets
    
(1,093
)
    
(1,237
)
    
(1,007
)
Recognized actuarial gain
    
(305
)
    
(359
)
    
(656
)
Settlement income
    
-
      
(610
)
    
-
  
Defined benefit expense
  
$
1,925
    
$
1,369
    
$
1,964
  

The Company’s non-service cost portion of defined benefit expense is recorded in Interest Expense on the Company’s Consolidated Statements of Earnings. The Company’s service cost portion of defined benefit expense is recorded in Selling and Administrative Expenses on the Company’s Consolidated Statements of Earnings. The Company has elected to use the actual fair value of plan assets as the market-related value of plan assets in the determination of the expected return on plan assets. Actuarial gains and losses are amortized using a corridor approach. The gain/loss corridor is equal to 10% of the greater of the benefit obligation and the market-related value of assets. Gains and losses in excess of the corridor are generally amortized over the average future working lifetime of the plan participants.

Weighted average liability assumptions as of December 31:

 
  
2025
    
2024
  
Discount rate
    
5.51
%
    
5.83
%
Expected return on plan assets
    
5.83
%
    
5.71
%
Rate of compensation increase
    
1.28
%
    
1.17
%

Weighted average cost assumptions for the year ended December 31:

 
  
2025
    
2024
    
2023
  
Discount rate
    
5.83
%
    
5.15
%
    
5.12
%
Expected return on plan assets
    
5.71
%
    
4.91
%
    
4.89
%
Rate of compensation increase
    
1.17
%
    
1.14
%
    
0.90
%
 
The aggregate amounts of benefits expected to be paid from defined benefit plans in each of the next five years subsequent to December 31, 2025, which include employees’ expected future service, are as follows: 2026, $6.6 million; 2027, $2.3 million; 2028, $2.3 million; 2029, $2.6 million; 2030, $2.5 million; and $26.3 million in total for the years 2031 through 2035.

The Company expects to contribute $5.1 million to defined benefit plans in 2026.

Amounts in Accumulated other comprehensive loss at December 31 were as follows:

(In thousands)
  
2025
    
2024
  
Unrecognized net actuarial loss
  
$
4,627
    
$
2,996
  
Prior service cost
    
151
      
146
  
Total before tax effects
  
$
4,778
    
$
3,142
  

The pension adjustments, net of tax, recognized in OCL, were as follows:

(In thousands)
  
2025
    
2024
    
2023
  
Net actuarial (loss) gain arising during the period
  
$
(818
)
  
$
665
    
$
192
  
Amortization of actuarial gain, included in defined benefit expense
    
(226
)
    
(934
)
    
(479
)
Pension adjustment, net of tax
  
$
(1,044
)
  
$
(269
)
  
$
(287
)

The investment objectives and target allocations for the Company’s pension plans related to the assets of the plans are reviewed on a regular basis. The investment objectives for the pension assets are to maximize the return on assets while maintaining an overall level of risk appropriate for a retirement fund and ensuring the availability of funds for the payment of retirement benefits. The levels of risk assumed by the pension plans are determined by market conditions, the rate of return expectations, and the liquidity requirements of each pension plan. The actual asset allocations of each pension plan are reviewed on a regular basis to ensure that they are in line with the target allocations.

The following table presents the Company’s pension plan assets by asset category as of December 31, 2025 and 2024:

 
  
Fair Value
as of
December 31,
    
Fair Value Measurements at
December 31, 2025
Using Fair Value Hierarchy
    
Fair Value
as of
December 31,
    
Fair Value Measurements at
December 31, 2024
Using Fair Value Hierarchy
  
(In thousands)
  
2025
    
Level 1
    
Level 2
    
Level 3
    
2024
    
Level 1
    
Level 2
    
Level 3
  
Equity Funds
                                                
Domestic
  
$
5,637
    
$
5,637
    
$
—
    
$
—
    
$
5,496
    
$
5,496
    
$
—
    
$
—
  
International
    
20
      
—
      
20
      
—
      
28
      
—
      
28
      
—
  
International Fixed Income Funds
    
13,868
      
2,137
      
11,731
      
—
      
13,116
      
1,655
      
11,461
      
—
  
Other investments
    
245
      
228
      
17
      
—
      
332
      
321
      
11
      
—
  
Total assets at fair value
  
$
19,770
    
$
8,002
    
$
11,768
    
$
—
    
$
18,972
    
$
7,472
    
$
11,500
    
$
—
  

The Company is required to categorize pension plan assets based on the following fair value hierarchy:


 Level 1:
Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2:
Inputs other than quoted prices included in Level 1 that are observable for the asset or liability through corroboration with observable market data.

Level 3:
Unobservable inputs that reflect the reporting entity’s own assumptions.
v3.25.4
Accumulated Other Comprehensive Loss
 12 Months Ended
Dec. 31, 2025
Accumulated Other Comprehensive Loss [Abstract]  
Accumulated Other Comprehensive Loss
10. Accumulated Other Comprehensive Loss

The following table summarizes the changes in OCL for 2025, 2024, and 2023:

(In thousands)
  
Cash Flow
Hedges (1)
    
Pension
Items (1)
    
Foreign Currency
Items
    
Total
  
Balance as of December 31, 2022
  
$
(599
)
  
$
(1,792
)
  
$
(198,297
)
  
$
(200,688
)
Other comprehensive income before reclassifications
    
3,833
      
192
      
27,262
      
31,287
  
Amounts reclassified from OCL
    
(2,237
)
    
(479
)
    
-
      
(2,716
)
Balance as of December 31, 2023
  
$
997
    
$
(2,079
)
  
$
(171,035
)
  
$
(172,117
)
Other comprehensive (loss) income before reclassifications
    
(1,723
)
    
665
      
(53,146
)
    
(54,204
)
Amounts reclassified from OCL
    
416
      
(934
)
    
-
      
(518
)
Balance as of December 31, 2024
  
$
(310
)
  
$
(2,348
)
  
$
(224,181
)
  
$
(226,839
)
Other comprehensive income (loss) before reclassifications
    
1,994
      
(818
)
    
57,290
      
58,466
  
Amounts reclassified from OCL
    
(1,654
)
    
(226
)
    
-
      
(1,880
)
Balance as of December 31, 2025
  
$
30
    
$
(3,392
)
  
$
(166,891
)
  
$
(170,253
)
(1)
Cash Flow Hedges and Pension Items are net of tax.
v3.25.4
Income Taxes
 12 Months Ended
Dec. 31, 2025
Income Taxes [Abstract]  
Income Taxes
11. Income Taxes

Earnings before income taxes were as follows:

(In thousands)
  
2025
    
2024
    
2023
  
United States
  
$
66,358
    
$
57,318
    
$
45,900
  
Foreign
    
111,189
      
105,480
      
83,951
  
Total
  
$
177,547
    
$
162,798
    
$
129,851
  

The provision for income taxes was as follows:

(In thousands)
  
2025
    
2024
    
2023
  
Current income tax expense:
                  
Federal
  
$
13,395
    
$
20,307
    
$
11,153
  
State
    
1,936
      
3,375
      
2,814
  
Foreign
    
30,432
      
33,048
      
27,590
  
 
    
45,763
      
56,730
      
41,557
  
Deferred expense (benefit):
                        
Federal
    
46
   
(12,743
)
    
(4,656
)
State
    
(1,338
)
    
(581
)
    
(813
)
Foreign
    
(1,413
)
    
(5,274
)
    
369
 
    
(2,705
)
    
(18,598
)
    
(5,100
)
Income taxes
  
$
43,058
    
$
38,132
    
$
36,457
  

Payments of income taxes were as follows:

(In thousands)
  
2025
  
Federal
   $ 13,686  
State
     3,211  
Germany
     7,389  
Thailand     4,904  
Mexico     3,846  
China
     3,141  
France
     2,408  
Foreign - Other
     10,221  
Total
   $ 48,806  

The company adopted ASU 2023-09 prospectively in 2025. The 2025 reconciliation between the U.S. Federal tax rate and the actual effective tax rate under ASU 2023-09 is below. The reconciliation for 2024 and 2023 under the prior guidance follows.


  
2025
  

  Amount     Percent  
Taxes at statutory rate
   $ 37,285       21.0 %
State income taxes, net of federal income tax benefit
                
Wisconsin1
     (1,053 )     (0.6 )
Other state income taxes1
    
1,140
       0.6  
Tax credits
                
Research and Development tax credits
     (3,674 )     (2.1 )
Foreign tax effects
                
Germany
                
Foreign statutory tax rate difference
     (1,622 )     (0.9 )
Enacted change in tax rate impact on deferred items
     (1,726 )     (1.0 )
Local taxes
     4,039       2.3  
Other foreign jurisdictions
     6,823       3.9  
Effect of cross-border taxes
                
Global intangible low-taxed income
     474       0.3  
Foreign derived intangible income
     (2,175 )     (1.2 )
Other effects of cross-border taxes
     733       0.4  
Nontaxable or nondeductible items
                
Nondeductible compensation
     2,452       1.4  
Other nontaxable or nondeductible items
     (155 )     (0.1 )
Changes in unrecognized benefits
     198       0.1  
Other reconciling items
     319       0.2  
Effective taxes and tax rate
   $ 43,058       24.3 %

1 Wisconsin had a release of a valuation allowance related to its net operating loss. The states that make up the majority of the Other state income taxes category are California and Illinois.

 
  
2024
    
2023
  
Taxes at statutory rate
    
21.0
%
    
21.0
%
State income taxes, net of federal income tax benefit
    
1.0
      
1.1
  
Tax credits
    
(1.6
)
    
(1.9
)
Taxes on foreign earnings
    
4.1
      
4.8
  
Global Intangible Low-Taxed Income
    
0.5
      
0.6
  
Foreign Derived Intangible Income
    
(1.2
)
    
(1.3
)
Resolution of prior years’ tax matters
    
0.6
      
0.3
  
Valuation allowance adjustments
    
(1.4
)
    
2.8
  
Nondeductible compensation
     0.9       1.2  
Other, net
    
(0.5
)
    
(0.5
)
Effective tax rate
    
23.4
%
    
28.1
%

For 2024 and 2023, taxes on foreign tax effects include the difference between the tax rates applied to foreign earnings relative to the U.S. statutory tax rate, accruals for foreign unrecognized tax benefits, and the impact of the U.S. foreign tax credit, not including the impact from Global Intangible Low-Taxed Income (GILTI). The impact on the Company’s effective tax rate varies from year to year based on the finalization of prior year foreign and domestic tax items, audit settlements, and mix of foreign earnings. The effective tax rates in 2025, 2024, and 2023 were all impacted by the release of valuation allowances related to net operating losses (NOLs) and the limited deductibility of costs related to the Portfolio Optimization Plan. See Note 14, Portfolio Optimization Plan. The effective tax rate in 2025 was also impacted by the change in the German tax rate. The effective tax rate in 2023 was also impacted by the release of valuation allowances related to the foreign tax credit carryover.

The Company’s valuation allowance at December 31, 2025 and 2024 was $29.1 million and $29.7 million, respectively. In 2025, the valuation allowance related to foreign NOLs was increased, and the valuation allowance related to state NOLs was reduced. In 2024, the valuation allowance related to foreign NOLs was reduced, and the valuation allowance related to state NOLs was increased.

The tax effects of temporary differences that give rise to significant portions of deferred tax assets and liabilities consisted of the following:

(In thousands)
  
2025
    
2024
  
Deferred tax assets:
            
Benefit plans
  
$
10,859
    
$
8,123
  
Liabilities and reserves
    
20,886
      
20,322
  
Operating loss and credit carryovers
    
58,598
      
59,834
  
Capitalized research and development costs
     22,745       18,666  
Other
    
20,788
      
5,355
  
Gross deferred tax assets
    
133,876
      
112,300
  
Valuation allowance
    
(29,053
)
    
(29,743
)
Deferred tax assets
    
104,823
      
82,557
  
Deferred tax liabilities:
                
Property, plant, and equipment
    
(28,265
)
    
(26,092
)
Goodwill
    
(19,005
)
    
(20,685
)
Deferred tax liabilities
    
(47,270
)
    
(46,777
)
Net deferred tax assets
  
$
57,553
    
$
35,780
  

At December 31, 2025, foreign tax credit carryovers were $27.3 million, all of which expire before 2040. At December 31, 2025, foreign operating loss carryovers were $90.5 million. Included in the foreign operating loss carryovers are losses of $16.5 million that expire through 2040 and $74.0 million that expire after 2040 or do not have an expiration date. At December 31, 2025, state operating loss carryovers were $110.0 million, which expire prior to 2040.

The Company is electing to recognize GILTI as a period expense in the period the tax is incurred.

The Organisation for Economic Co-operation and Development has issued Pillar Two model rules imposing a global minimum corporate tax rate of 15%. The Pillar Two model rules have not had a material impact on the Company, and we will continue to monitor U.S. and global legislative action related to Pillar Two for potential impacts.

Federal and state income taxes are provided on international subsidiary income distributed to or taxable in the U.S. during the year. At December 31, 2025, no additional income or withholding taxes have been provided for the $920.0 million of undistributed earnings or any additional outside basis differences inherent in these entities, as these amounts are considered to be invested indefinitely. If the undistributed earnings were repatriated, the Company estimates it would have a withholding tax liability of $45.8 million. The determination of the tax liability for any outside basis differences is not practicable.

A reconciliation of the change in the liability for unrecognized tax benefits for 2025 and 2024 is as follows:

(In thousands)
  
2025
    
2024
  
Balance at beginning of year
  
$
4,391
    
$
4,251
  
Increases for tax positions taken in the current year
    
840
      
865
  
Increases for tax positions taken in prior years     130       422  
Decreases related to settlements with tax authorities
    
(736
)
    
-
  
Decreases as a result of lapse of the applicable statutes of limitations
    
(952
)
    
(765
)
Foreign currency exchange rate changes
    
457
      
(382
)
Balance at the end of year
  
$
4,130
    
$
4,391
  

The amount of the unrecognized tax benefits that would affect the effective tax rate, if recognized, was approximately $4.1 million. The Company recognizes interest and penalties related to the unrecognized tax benefits in income tax expense. $0.5 million of accrued interest and penalties were reported as an income tax liability as of both December 31, 2025 and 2024. The liability for unrecognized tax benefits relates to multiple jurisdictions and is reported in Other Liabilities on the Company’s Consolidated Balance Sheet at December 31, 2025.

With limited exceptions, the Company is no longer subject to federal, state, and local, or non-U.S. income tax examinations by tax authorities for years before 2021.
v3.25.4
Segment and Geographic Information
 12 Months Ended
Dec. 31, 2025
Segment and Geographic Information [Abstract]  
Segment and Geographic Information
12. Segment and Geographic Information

The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The Company evaluates performance based on operating income before share-based compensation (except for share-based compensation expense associated with stock grants to certain business unit leaders), restructuring and other charges, including the Portfolio Optimization Plan costs, interest expense, and income taxes (segment operating income). Total revenue and segment operating income by business segment and geographic region include both sales to customers, as reported in the Company’s Consolidated Statements of Earnings, and intersegment sales, which are accounted for at prices that approximate market prices and are eliminated in consolidation.

Assets by business segment and geographic region are those assets used in the Company’s operations in each segment and geographic region. Segment assets reflect the allocation of goodwill to each segment. Corporate & Other assets consist primarily of accounts receivables from the securitization program, investments, deferred tax assets, and fixed assets.

During 2025, the Company changed the name of its Natural Ingredients product line to Agricultural Ingredients within the Flavors & Extracts segment to clearly distinguish it from the natural color activities within the Food & Pharmaceutical Colors product line within the Color segment.

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

The Company’s three reportable segments are Flavors & Extracts and Color segments, which are both managed on a product line basis, and the Asia Pacific segment, which is managed on a geographic basis. The Company’s Flavors & Extracts segment produces flavor, extracts, and essential oils products that impart a desired taste, texture, aroma, or other characteristic to a broad range of consumer and other products. The Color segment produces natural and synthetic color systems for foods, beverages, pharmaceuticals, and nutraceuticals; colors, ingredients, and systems for personal care; and technical colors for industrial applications. The Asia Pacific segment is managed on a geographic basis and produces and distributes color, flavor, and essential oils products for the Asia Pacific countries. The Company’s corporate expenses, share-based compensation (except for share-based compensation expense associated with stock grants to certain business unit leaders), restructuring and other charges, including the Portfolio Optimization Plan costs as further described in Note 14, Portfolio Optimization Plan, and certain other costs are included in the “Corporate & Other” category.

(In thousands)
  
Flavors &
Extracts
    
Color
    
Asia Pacific
    
Corporate
& Other
    
Total
  
2025:
                              
Total segment revenue  
$
786,943
    
$
700,595
    
$
168,156
    
$
—
    
$
1,655,694
  
Intersegment revenue
    
(23,059
)
    
(20,226
)
    
(298
)
    
—
      
(43,583
)
Consolidated revenue from external customers
    
763,884
      
680,369
      
167,858
      
—
      
1,612,111
  
Cost of products sold
    560,639       406,632       98,009       7,531       1,072,811  
Selling and administrative expenses
     102,504       132,458       33,227       63,983       332,172  
Segment operating income (loss)
    
100,741
      
141,279
      
36,622
      
(71,514
)
    
207,128
  
Interest expense
                                    
29,581
  
Earnings before income taxes
                                  
$
177,547
  
 
                                        
Assets
    
907,127
      
894,806
      
128,102
      
314,102
      
2,244,137
  
Capital expenditures
    
48,057
      
32,552
      
2,674
      
6,126
      
89,409
  
Depreciation and amortization
    
30,347
      
24,598
      
2,302
      
3,851
      
61,098
  
 
                                        
2024:
                                        
Total segment revenue
  
$
793,698
    
$
647,939
    
$
162,525
    
$
—
    
$
1,604,162
  
Intersegment revenue
    
(28,175
)
    
(18,648
)
    
(111
)
    
—
      
(46,934
)
Consolidated revenue from external customers
    
765,523
      
629,291
      
162,414
      
—
      
1,557,228
  
Cost of products sold
    565,486       387,364       95,923       1,362       1,050,135  
Selling and administrative expenses
     102,943       122,398       32,033       58,140       315,514  
Segment operating income (loss)
    
97,094
      
119,529
      
34,458
      
(59,502
)
    
191,579
  
Interest expense
                                    
28,781
  
Earnings before income taxes
                                  
$
162,798
  
 
                                        
Assets
    
802,177
      
819,380
      
116,817
      
285,420
      
2,023,794
  
Capital expenditures
    
29,237
      
21,722
      
2,375
      
5,878
      
59,212
  
Depreciation and amortization
    
30,437
      
23,417
      
2,472
      
4,003
      
60,329
  
 
                                        
2023:
                                        
Total segment revenue
  
$
741,072
    
$
607,959
    
$
146,090
    
$
—
    
$
1,495,121
  
Intersegment revenue
    
(25,023
)
    
(13,643
)
    
(5
)
    
—
      
(38,671
)
Consolidated revenue from external customers
    
716,049
      
594,316
      
146,085
      
—
      
1,456,450
  
Cost of products sold
    530,769       376,512       85,737       3,135       996,153  
Selling and administrative expenses
     97,507       112,434       29,548       65,785       305,274  
Segment operating income (loss)
    
87,773
      
105,370
      
30,800
      
(68,920
)
    
155,023
  
Interest expense
                                    
25,172
  
Earnings before income taxes
                                  
$
129,851
  

                                       
Assets
    
792,674
      
846,559
      
112,335
      
262,939
      
2,014,507
  
Capital expenditures
    
40,489
      
37,720
      
2,923
      
6,736
      
87,868
  
Depreciation and amortization
    
29,400
      
22,294
      
2,548
      
3,578
      
57,820
  

Geographic Information
The Company has manufacturing facilities or sales offices in North America, Europe, Asia, Australia, South America, and Africa.

The Company’s annual revenue summarized by geographic location is as follows:

 
(In thousands)
  
Flavors &
Extracts
    
Color
    
Asia Pacific
    
Corporate
& Other
    
Consolidated
  
2025:
                              
Revenue from external customers:
                              
North America
  
$
602,252
    
$
332,975
    
$
56
    
$
—
    
$
935,283
  
Europe
    
118,566
      
196,189
      
53
      
—
      
314,808
  
Asia Pacific
    
17,806
      
66,343
      
163,386
      
—
      
247,535
  
Other
    
25,260
      
84,862
      
4,363
      
—
      
114,485
  
Total revenue from external customers
  
$
763,884
    
$
680,369
    
$
167,858
    
$
—
    
$
1,612,111
  
Long-lived assets:
                                        
North America
  
$
323,284
    
$
286,871
    
$
—
    
$
145,996
    
$
756,151
  
Europe
    
80,200
      
262,984
      
—
      
26
      
343,210
  
Asia Pacific
    
—
      
3,924
      
31,056
      
—
      
34,980
  
Other
    
584
      
27,764
      
—
      
—
      
28,348
  
Total long-lived assets
  
$
404,068
    
$
581,543
    
$
31,056
    
$
146,022
    
$
1,162,689
  
 
                                        
2024:
                                        
Revenue from external customers:
                                        
North America
  
$
597,046
    
$
313,180
    
$
100
    
$
—
    
$
910,326
  
Europe
    
124,257
      
169,185
      
149
      
—
      
293,591
  
Asia Pacific
    
17,878
      
64,600
      
156,243
      
—
      
238,721
  
Other
    
26,342
      
82,326
      
5,922
      
—
      
114,590
  
Total revenue from external customers
  
$
765,523
    
$
629,291
    
$
162,414
    
$
—
    
$
1,557,228
  
Long-lived assets:
                                        
North America
  
$
296,479
    
$
272,418
    
$
—
    
$
124,917
    
$
693,814
  
Europe
    
78,041
      
231,961
      
—
      
23
      
310,025
  
Asia Pacific
    
—
      
3,655
      
29,317
      
—
      
32,972
  
Other
    
764
      
24,333
      
—
      
—
      
25,097
  
Total long-lived assets
  
$
375,284
    
$
532,367
    
$
29,317
    
$
124,940
    
$
1,061,908
  
 
                                        
2023:
                                        
Revenue from external customers:
                                        
North America
  
$
553,790
    
$
304,995
    
$
125
    
$
—
    
$
858,910
  
Europe
    
113,757
      
162,644
      
236
      
—
      
276,637
  
Asia Pacific
    
21,382
      
58,003
      
142,281
      
—
      
221,666
  
Other
    
27,120
      
68,674
      
3,443
      
—
      
99,237
  
Total revenue from external customers
  
$
716,049
    
$
594,316
    
$
146,085
    
$
—
    
$
1,456,450
  
Long-lived assets:
                                        
North America
  
$
297,615
    
$
277,730
    
$
—
    
$
114,995
    
$
690,340
  
Europe
    
82,938
      
244,587
      
—
      
24
      
327,549
  
Asia Pacific
    
8
      
4,199
      
30,473
      
—
      
34,680
  
Other
    
241
      
25,081
      
—
      
—
      
25,322
  
Total long-lived assets
  
$
380,802
    
$
551,597
    
$
30,473
    
$
115,019
    
$
1,077,891
  

Sales in the United States, based on the final country of destination of the Company’s products, were $781.9 million, $761.2 million, and $707.1 million, in 2025, 2024, and 2023, respectively. No other country of destination exceeded 10% of consolidated sales. Total long-lived assets in the United States amounted to $660.7 million, $612.7 million, and $603.2 million, at December 31, 2025, 2024, and 2023, respectively.

Product Information
The Company’s revenue summarized by product portfolio is as follows:

 
(In thousands)
  
Flavors &
Extracts
    
Color
    
Asia Pacific
    
Consolidated
  
2025:
                        
Flavors, Extracts & Flavor Ingredients
  
$
528,770
    
$
—
    
$
—
    
$
528,770
  
Agricultural Ingredients
    
258,173
      
—
      
—
      
258,173
  
Food & Pharmaceutical Colors
    
—
      
529,471
      
—
      
529,471
  
Personal Care
    
—
      
171,124
      
—
      
171,124
  
Asia Pacific
    
—
      
—
      
168,156
      
168,156
  
Intersegment Revenue
    
(23,059
)
    
(20,226
)
    
(298
)
    
(43,583
)
Total revenue from external customers
  
$
763,884
    
$
680,369
    
$
167,858
    
$
1,612,111
  
                                 
2024:
                                
Flavors, Extracts & Flavor Ingredients
  
$
508,052
    
$
—
    
$
—
    
$
508,052
  
Agricultural Ingredients
    
285,646
      
—
      
—
      
285,646
  
Food & Pharmaceutical Colors
    
—
      
481,141
      
—
      
481,141
  
Personal Care
    
—
      
166,798
      
—
      
166,798
  
Asia Pacific
    
—
      
—
      
162,525
      
162,525
  
Intersegment Revenue
    
(28,175
)
    
(18,648
)
    
(111
)
    
(46,934
)
Total revenue from external customers
  
$
765,523
    
$
629,291
    
$
162,414
    
$
1,557,228
  
                                 
2023:
                                
Flavors, Extracts & Flavor Ingredients
  
$
496,036
    
$
—
    
$
—
    
$
496,036
  
Agricultural Ingredients
    
245,036
      
—
      
—
      
245,036
  
Food & Pharmaceutical Colors
    
—
      
452,204
      
—
      
452,204
  
Personal Care
    
—
      
155,755
      
—
      
155,755
  
Asia Pacific
    
—
      
—
      
146,090
      
146,090
  
Intersegment Revenue
    
(25,023
)
    
(13,643
)
    
(5
)
    
(38,671
)
Total revenue from external customers
  
$
716,049
    
$
594,316
    
$
146,085
    
$
1,456,450
  
v3.25.4
Fair Value Measurements
 12 Months Ended
Dec. 31, 2025
Fair Value Measurements [Abstract]  
Fair Value Measurements
13. Fair Value Measurements

ASC 820, Fair Value Measurement, defines fair value for financial assets and liabilities, establishes a framework for measuring fair value in GAAP, and expands disclosures about fair value measurements. As of December 31, 2025 and 2024, the Company’s assets and liabilities subject to this standard are forward exchange contracts. The net fair value of the forward exchange contracts based on current pricing obtained for comparable derivative products (Level 2 inputs) was an asset of $0.3 million and a liability of $0.8 million as of December 31, 2025 and 2024, respectively. The carrying values of the Company’s cash and cash equivalents, trade accounts receivable, trade accounts payable, accrued expenses, and short-term borrowings were approximately the same as the fair values as of December 31, 2025. The fair value of the Company’s long-term debt, including current maturities, is estimated using discounted cash flows based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements (Level 2 inputs). The carrying value of the long-term debt at December 31, 2025 and 2024, was $709.5 million and $613.7 million, respectively. The fair value of the long-term debt at December 31, 2025 and 2024, was $720.9 million and $622.0 million, respectively.
v3.25.4
Portfolio Optimization Plan
 12 Months Ended
Dec. 31, 2025
Portfolio Optimization Plan [Abstract]  
Portfolio Optimization Plan

14. Portfolio Optimization Plan

During the fourth quarter of 2023, the Board of Directors of the Company approved a plan to undertake an effort to optimize certain production facilities and improve efficiencies within the Company (Portfolio Optimization Plan). As part of the Portfolio Optimization Plan, in the Flavors & Extracts segment, the Company evaluated the closure of its manufacturing facility in Felinfach, Wales, United Kingdom, the closure of its sales office in Granada, Spain, and the centralization and elimination of certain selling and administrative positions. In addition, in the Color segment, the Company evaluated the closure of a manufacturing facility in Delta, British Columbia, Canada, the closure of a sales office in Argentina, and centralizing and eliminating certain production positions and selling and administrative positions. The Company reports all costs associated with the Portfolio Optimization Plan in the Corporate & Other segment.

The Company’s Felinfach site was shut down in May 2025, and all production activities have been transferred to other locations. The Company began marketing the Felinfach site for sale in June 2025. As a result, the Company met all of the assets held for sale criteria for the Felinfach land and building assets in June 2025, which have been recorded as the only balance in Fixed assets held for sale on the Company’s Consolidated Balance Sheets. The Company has substantially completed all other actions contemplated under the Portfolio Optimization Plan in accordance with local laws.

The Company recorded $2.5 million of accrued liabilities in Other Accrued Expenses on the Company’s Consolidated Balance Sheet related to the Portfolio Optimization Plan as of December 31, 2024. The amount of accrued liabilities recorded in Other Accrued Expenses on the Company’s Consolidated Balance Sheet related to the Portfolio Optimization Plan was immaterial as of December 31, 2025. The total cost of the Portfolio Optimization Plan was $50 million, primarily related to non-cash impairment charges and proposed employee separation costs. We anticipate that the Portfolio Optimization Plan will reduce annual operating costs by approximately $8 million, with the full benefit expected to be achieved after 2025. The Company reduced headcount by approximately 100 positions, primarily in the Flavors & Extracts and Color segments, related to certain production and selling and administrative positions.



The following table summarizes the Portfolio Optimization Plan expenses by segment for the year ended December 31, 2025:




(In thousands)
  
Flavors &
Extracts
    

Color
    
Corporate
& Other
    

Consolidated
  
Non-cash impairment charges – Selling and administrative expenses
  
$
953
    
$
-
    
$
-
    
$
953
  
Non-cash charges – Cost of products sold
    
4,344
      
-
      
-
      
4,344
  
Employee separation – Selling and administrative expenses
    
758
      
8
      
-
      
766
  
Other production costs – Cost of products sold
    
3,187
      
-
      
-
      
3,187
  
Other costs – Selling and administrative expenses(1)
    
5,986
      
403
      
167
      
6,556
  
Total
  
$
15,228
    
$
411
    
$
167
    
$
15,806
  




(1)
Other costs include professional services, decommissioning costs, and other related costs.



The following table summarizes the Portfolio Optimization Plan expenses by segment for the year ended December 31, 2024:

 
(In thousands)
  
Flavors &
Extracts
    
Color
    
Corporate
& Other
    
Consolidated
  
Non-cash impairment charges – Selling and administrative expenses
  
$
-
    
$
1,129
    
$
-
    
$
1,129
  
Non-cash charges – Cost of products sold
    
934
      
(194
)
    
-
      
740
  
Employee separation – Selling and administrative expenses
    
1,450
      
583
      
26
      
2,059
  
Other production costs – Cost of products sold
    
622
      
-
      
-
      
622
  
Other costs – Selling and administrative expenses(1)
    
1,813
      
382
      
(114
)
    
2,081
  
Total
  
$
4,819
    
$
1,900
    
$
(88
)
  
$
6,631
  



(1)
Other costs include professional services, decommissioning costs, and other related costs.


The following table summarizes the Portfolio Optimization Plan expenses by segment for the year ended December 31, 2023:


 
(In thousands)
  
Flavors &
Extracts
    

Color
    
Corporate
& Other
    
Consolidated
  
Non-cash impairment charges – Selling and administrative expenses
  
$
11,599
    
$
9,355
    
$
-
    
$
20,954
  
Non-cash charges – Cost of products sold
    
2,040
      
1,095
      
-
      
3,135
  
Employee separation – Selling and administrative expenses
    
2,820
      
288
      
108
      
3,216
  
Other costs – Selling and administrative expenses(1)
    
39
      
497
      
-
      
536
  
Total
  
$
16,498
    
$
11,235
    
$
108
    
$
27,841
  


(1)
Other costs include legal settlements, professional services, and other related costs.
v3.25.4
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies [Abstract]  
Commitments and Contingencies
15. Commitments and Contingencies

The Company is subject to various claims and litigation arising in the normal course of business. The Company establishes reserves for claims and proceedings when it is probable that liabilities exist and reasonable estimates of loss can be made. While it is not possible to predict the outcome of these matters, based on our assessment of the facts and circumstances now known, we do not believe that these matters, individually or in the aggregate, will have a material adverse effect on our financial position. However, actual outcomes may be different from those expected and could have a material effect on our results of operations or cash flows in a particular period.
v3.25.4
Subsequent Event
 12 Months Ended
Dec. 31, 2025
Subsequent Event [Abstract]  
Subsequent Event
16. Subsequent Event

On January 16, 2026, the Company announced its quarterly dividend of 41 cents per share would be payable on March 2, 2026.
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Abstract]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
The Company recognizes the importance of assessing, identifying, and managing material risks associated with cybersecurity threats in order to safeguard our information systems and protect the confidentiality, integrity, and availability of our information systems and the information residing therein. We have implemented several cybersecurity processes to aid in our efforts to assess, identify, and manage such material risks.
Our risk management program considers cybersecurity threat risks alongside other risks as part of our overall risk assessment process. We believe that integrating our cybersecurity risk management into our broader risk management framework promotes a company-wide culture of cybersecurity risk management and ensures that cybersecurity considerations are an integral part of decision-making at every level.

We employ a wide range of tools, policies, and services, including but not limited to penetration testing, network and endpoint monitoring, vulnerability assessments, information segregation, and tabletop exercises to inform our risk identification and assessment. We routinely review and upgrade our information technology and cybersecurity systems in order to better manage, report, and protect the information related to our formulas and processes, research and development, trade secrets, products, customers and suppliers, employees, and other sensitive information. We also have a cybersecurity specific risk assessment process that helps us identify our cybersecurity threat risks and maturity level by comparing our processes to standards set by the International Organization for Standardization.
To provide for the availability of critical data and systems, maintain regulatory compliance, manage our material risks from cybersecurity threats, and protect against, detect, and respond to cybersecurity incidents, we:


 •
Run tabletop exercises with our executive team to simulate a response to a cybersecurity incident and use the findings to improve our processes and technologies;

•
Conduct regular third-party assessments of our cybersecurity program;

•
Undertake regular reviews of our incident response plan and other policies related to cybersecurity;

•
Run regular cyber penetration testing;

•
Through policy and practice, classify information, restrict access, and require employees to treat sensitive data with care; and

•
Conduct an annual employee training program, including regular phishing email simulations for all employees with access to corporate email systems to enhance awareness and responsiveness to such possible threats.
 
Our incident response plan coordinates the activities we take to prepare for, detect, respond to, and recover from cybersecurity incidents, which include processes to triage, assess severity of, escalate, contain, investigate, and remediate the incident, as well as comply with potentially applicable legal obligations.
Recognizing the complexity and evolving nature of cybersecurity threats, the Company engages third-party experts, including assessors, auditors, and consultants, in evaluating and testing our risk management systems. Such engagements include managed security services, regular audits, penetration testing, threat assessments, and consultation on security enhancements. The Company has processes in place to oversee and manage its use of third-party vendors. We conduct security assessments of third-party vendors engaged, limit the information systems of the Company available to the third party, and maintain monitoring to ensure compliance with our cybersecurity standards.
From time to time, we experience cybersecurity incidents and threats to our systems and information. Through the date hereof, no risks from identified cybersecurity threats, including as a result of any previous cybersecurity incidents, have materially affected, and we do not believe are reasonably likely to materially affect, the Company, including our business strategy, results of operations, or financial condition. However, we cannot guarantee that we will not be materially affected in the future. Cybersecurity threats rapidly evolve and are complex, so we must continually adapt and enhance our processes. As we do this, we must make judgments about where and how to invest resources to most effectively protect ourselves from threats. These are inherently challenging processes, and we can provide no assurance that the processes that we implement will be effective. For more information regarding cybersecurity risks that could impact the Company, see our risk factor disclosures at Item 1A of this Annual Report on Form 10-K, which such disclosures are incorporated by reference herein.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
We employ a wide range of tools, policies, and services, including but not limited to penetration testing, network and endpoint monitoring, vulnerability assessments, information segregation, and tabletop exercises to inform our risk identification and assessment. We routinely review and upgrade our information technology and cybersecurity systems in order to better manage, report, and protect the information related to our formulas and processes, research and development, trade secrets, products, customers and suppliers, employees, and other sensitive information. We also have a cybersecurity specific risk assessment process that helps us identify our cybersecurity threat risks and maturity level by comparing our processes to standards set by the International Organization for Standardization.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block] Through the date hereof, no risks from identified cybersecurity threats, including as a result of any previous cybersecurity incidents, have materially affected, and we do not believe are reasonably likely to materially affect, the Company, including our business strategy, results of operations, or financial condition. However, we cannot guarantee that we will not be materially affected in the future.
Cybersecurity Risk Board of Directors Oversight [Text Block]
Governance
Cybersecurity is an important part of our risk management processes and an area of focus for our Board and management. Our entire Board is responsible for the oversight of risks from cybersecurity threats. At least twice annually, the entire Board receives an overview from management of our cybersecurity progress and effectiveness, covering topics such as current cybersecurity landscape and emerging threats, data security posture, results from third-party assessments, status of ongoing initiatives and strategies, and material cybersecurity threat risks or, if any, incidents and developments. In these sessions, the Board receives materials and discusses such matters with our Chief Information Officer. The Board also receives annual training on cybersecurity. In addition, we have formed an executive level steering committee (including the CEO, CFO, Group Presidents, General Counsel, VP, Human Resources, Controller/Chief Accounting Officer, and Chief Information Officer) that provides oversight and routinely discusses cybersecurity matters.
Our cybersecurity risk management and strategy processes, which are discussed in greater detail above, are led by our Chief Information Officer, our Director of Information Security, and our Director of Infrastructure. These individuals collectively have over 90 years of prior work experience in various roles in the information security field, including managing and implementing effective information technology and cybersecurity programs, as well as relevant degrees and certifications, including a Certified Information Systems Security Professional certification. These members of management are informed about and monitor the prevention, mitigation, detection, and remediation of cybersecurity incidents through their management of, and participation in, the cybersecurity risk management and strategy processes described above, including the operation of our incident response plan. As discussed above, our Chief Information Officer reports to the entire Board about cybersecurity threat risks, among other cybersecurity matters, at least twice annually or more frequently as circumstances may require.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]
Cybersecurity is an important part of our risk management processes and an area of focus for our Board and management. Our entire Board is responsible for the oversight of risks from cybersecurity threats.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] At least twice annually, the entire Board receives an overview from management of our cybersecurity progress and effectiveness, covering topics such as current cybersecurity landscape and emerging threats, data security posture, results from third-party assessments, status of ongoing initiatives and strategies, and material cybersecurity threat risks or, if any, incidents and developments. In these sessions, the Board receives materials and discusses such matters with our Chief Information Officer. The Board also receives annual training on cybersecurity. In addition, we have formed an executive level steering committee (including the CEO, CFO, Group Presidents, General Counsel, VP, Human Resources, Controller/Chief Accounting Officer, and Chief Information Officer) that provides oversight and routinely discusses cybersecurity matters.
Cybersecurity Risk Role of Management [Text Block]
Our cybersecurity risk management and strategy processes, which are discussed in greater detail above, are led by our Chief Information Officer, our Director of Information Security, and our Director of Infrastructure. These individuals collectively have over 90 years of prior work experience in various roles in the information security field, including managing and implementing effective information technology and cybersecurity programs, as well as relevant degrees and certifications, including a Certified Information Systems Security Professional certification. These members of management are informed about and monitor the prevention, mitigation, detection, and remediation of cybersecurity incidents through their management of, and participation in, the cybersecurity risk management and strategy processes described above, including the operation of our incident response plan. As discussed above, our Chief Information Officer reports to the entire Board about cybersecurity threat risks, among other cybersecurity matters, at least twice annually or more frequently as circumstances may require.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Our cybersecurity risk management and strategy processes, which are discussed in greater detail above, are led by our Chief Information Officer, our Director of Information Security, and our Director of Infrastructure.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our cybersecurity risk management and strategy processes, which are discussed in greater detail above, are led by our Chief Information Officer, our Director of Information Security, and our Director of Infrastructure. These individuals collectively have over 90 years of prior work experience in various roles in the information security field, including managing and implementing effective information technology and cybersecurity programs, as well as relevant degrees and certifications, including a Certified Information Systems Security Professional certification.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] These members of management are informed about and monitor the prevention, mitigation, detection, and remediation of cybersecurity incidents through their management of, and participation in, the cybersecurity risk management and strategy processes described above, including the operation of our incident response plan. As discussed above, our Chief Information Officer reports to the entire Board about cybersecurity threat risks, among other cybersecurity matters, at least twice annually or more frequently as circumstances may require.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
Insider Trading Arrangements [Line Items]  
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
v3.25.4
Schedule II Valuation and Qualifying Accounts
 12 Months Ended
Dec. 31, 2025
Schedule II - Valuation and Qualifying Accounts [Abstract]  
Schedule II - Valuation and Qualifying Accounts
Financial Statement Schedule

Schedule II
Valuation and Qualifying Accounts (in thousands); Years Ended December 31, 2025, 2024, and 2023
Valuation Accounts Deducted in the
Balance Sheet From the Assets to
Which They Apply
  
Balance
at Beginning
of Period
    
Additions
Charged to
Costs and
Expenses
    
Additions
Recorded
During
Acquisitions
    
Deductions
    
Balance at
End of
Period
  
                               
2023
Allowance for losses:
Trade accounts receivable
  
$
4,436
    
$
1,020
    
$
0
    
$
1,083
    
$
4,373
  
 
                                        
2024
Allowance for losses:
Trade accounts receivable
  
$
4,373
    
$
1,527
    
$
0
    
$
877
    
$
5,023
  
 
                                        
2025
Allowance for losses:
Trade accounts receivable
  
$
5,023
    
$
288
    
$
0
    
$
183
    
$
5,128
  

 

All other schedules are omitted because they are inapplicable, not required by the instructions, or the information is included in the consolidated financial statements or notes thereto.
v3.25.4
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2025
Summary of Significant Accounting Policies [Abstract]  
Principles of Consolidation and Basis of Presentation
Principles of Consolidation and Basis of Presentation
The consolidated financial statements include the accounts of the Company and have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). All significant intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates
Use of Estimates
The preparation of the consolidated financial statements requires the use of management’s estimates and assumptions that affect reported amounts of assets, liabilities, revenue, and expenses during the reporting period and the disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates.
Revenue Recognition
Revenue Recognition
The Company recognizes revenue at the transfer of control of its products to the Company’s customers in an amount reflecting the consideration to which the Company expects to be entitled. In order to achieve this core principle, the Company applies the following five-step approach:

•
Identification of the contract, or contracts, with a customer
•
Identification of the performance obligations in the contract
•
Determination of the transaction price
•
Allocation of the transaction price to the performance obligations in the contract
•
Recognition of revenue when, or as, the Company satisfies the performance obligations

The Company considers customer purchase orders, which in some cases are governed by master sales or supply agreements, coupled with the Company’s purchase order acceptances, to be the contracts with the customer. For each contract, the Company considers the identified performance obligation to be the promise to transfer products. In determining the transaction price, the Company evaluates whether the price is subject to refund or adjustment and then determines the net consideration to which the Company expects to be entitled. In addition, the Company assesses the customer’s ability to pay as part of its evaluation of the contract. As the Company’s standard payment terms are less than one year, the Company elected the practical expedient under Accounting Standards Codification (ASC) 606-10-32-18, and determined that its contracts do not have a significant financing component. The Company allocates the transaction price to each distinct product based on the relative standalone selling price. Revenue is recognized when control of the product is transferred to the customer, the customer is obligated to pay the Company, and the Company has no remaining obligations, which is typically at shipment. In certain locations, primarily outside the United States, product delivery terms may vary. Thus, in such locations, the point at which control of the product transfers to the customer and revenue recognition occurs will vary accordingly.

Customer returns of non-conforming products are estimated at the time revenue is recognized. In certain customer relationships, volume rebates exist, which are recognized according to the terms and conditions of the contractual relationship. Customer returns, rebates, and discounts are not material to the Company’s consolidated financial statements. The Company has elected to recognize the revenue and cost for freight and shipping when control over the products has been transferred to the customer. The Company has elected to immediately expense contract costs related to obtaining a contract as the amortization period of the asset the Company otherwise would have recognized would have been less than a year.

In addition to evaluating the Company’s performance based on the segments above, revenue is also disaggregated and analyzed by product line and geographic market (See Note 12 Segment and Geographic Information, for further information).
Cost of Products Sold
Cost of Products Sold
Cost of products sold includes materials, labor, and overhead expenses incurred in the manufacture of our products. Cost of products sold also includes charges for obsolete and slow-moving inventories as well as costs for quality control, purchasing and receiving costs, inspection costs, warehousing costs, internal transfer costs, other costs of our internal distribution network, and costs incurred for shipping and handling. The Company records fees billed to customers for shipping and handling as revenue.
Selling and Administrative Expenses
Selling and Administrative Expenses
Selling and administrative expenses primarily include the salaries and related costs for executive, finance, accounting, human resources, information technology, research and development, and legal personnel as well as salaries and related costs of salespersons and commissions paid to external sales agents.
Cash Equivalents
Cash Equivalents
The Company considers all highly liquid investments with original maturities of three months or less at the date of acquisition as cash equivalents.
Accounts Receivable
Accounts Receivable
Receivables are recorded at their face amount, less an allowance for losses on doubtful accounts. The allowance for doubtful accounts is based on customer-specific analysis and general matters such as current assessments of past due balances and economic conditions. Specific accounts are written off against the allowance for doubtful accounts when it is deemed that the receivable is no longer collectible.
Inventories
Inventories
Inventories are stated at the lower of cost or net realizable value. Net realizable value is determined on the basis of estimated realizable values. Cost is determined using the first-in, first-out (FIFO) method. Inventories include finished and in-process products totaling $491.4 million and $426.8 million at December 31, 2025 and 2024, respectively, and raw materials and supplies of $186.8 million and $173.5 million at December 31, 2025 and 2024, respectively.

The Company recorded non-cash charges of $4.3 million and $0.7 million in Cost of Products Sold related to the Portfolio Optimization Plan in 2025 and 2024, respectively. The non-cash charges in 2025 reduced the carrying value of certain inventories, as they were determined to be excess, and the charges in 2024 were primarily related to trial production runs that did not meet quality specifications and thus were disposed of. See Note 14, Portfolio Optimization Plan, for additional information.
Property, Plant, and Equipment
Property, Plant, and Equipment
Property, plant, and equipment are recorded at cost reduced by accumulated depreciation. Depreciation is provided over the estimated useful life of the related asset using the straight-line method for financial reporting. The estimated useful lives for buildings and leasehold improvements range from 5 to 40 years. Machinery and equipment have estimated useful lives ranging from 3 to 20 years. Interest costs on significant projects constructed or developed for the Company’s own use are capitalized as part of the asset.
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets
The carrying value of goodwill is evaluated for impairment on an annual basis or more frequently when an indicator of impairment occurs. The impairment assessment includes comparing the carrying amount of net assets, including goodwill, of each reporting unit to its respective fair value as of the date of the assessment. Fair value was estimated based upon an evaluation of the reporting unit’s estimated future discounted cash flows as well as the public trading and private transaction valuation multiples for comparable companies. The Company performed such a quantitative analysis in 2025, which indicated a substantial premium compared to the carrying value of net assets, including goodwill, at the reporting unit level. In 2024 and 2023, the Company completed a qualitative assessment noting no indicators of impairment. The Company did not record impairment charges for any of its reporting units in 2025, 2024, or 2023.

The cost of intangible assets with determinable useful lives is amortized on a straight-line basis to reflect the pattern of economic benefits consumed, ranging from 5 to 25 years. These assets include technological know-how, customer relationships, patents, trademarks, trade secrets, and non-compete agreements, among others.
Impairment of Long-lived Assets
Impairment of Long-lived Assets
The Company reviews long-lived assets for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. The Company performs undiscounted cash flow analyses to determine if potential impairment exists. If impairment is determined to exist, any related impairment loss is calculated based on the difference between fair value and carrying value. Impairment losses were recorded as a result of the Company’s Portfolio Optimization Plan in 2023. See Note 14, Portfolio Optimization Plan, for additional information.
Leases
Leases
The Company enters into lease agreements for certain office space, warehouses, land, and equipment in the ordinary course of business. The Company determines if an arrangement is a lease at inception and evaluates the lease classification (i.e., operating lease or financing lease) at that time. Lease arrangements with an initial term of 12 months or less are considered short-term leases and are not recorded on the balance sheet. The Company recognizes lease expense for these leases on a straight-line basis over the term of the lease.

Operating leases are included in Other Assets, Other Accrued Expenses, and Other Liabilities on the Company’s Consolidated Balance Sheet. Operating lease right-of-use assets represent our right to use an underlying asset for the lease term, and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term.

The Company uses its incremental borrowing rate on the commencement date for determining the present value of lease payments. The Company considers the likelihood of exercising options to extend or terminate the lease when determining the lease term.

The Company has lease agreements with lease and non-lease components. The Company has elected the practical expedient of accounting for the lease and non-lease components of each lease as a single lease component.
Derivative Financial Instruments
Derivative Financial Instruments
The Company selectively uses derivative financial instruments to reduce market risk associated with changes in foreign currency and interest rate exposures, which exist as part of ongoing business operations. All derivative transactions are authorized and executed pursuant to the Company’s risk management policies and procedures, which strictly prohibit the use of financial instruments for speculative trading purposes.

The primary objectives of the foreign exchange risk management activities are to understand and mitigate the impact of potential foreign exchange fluctuations on the Company’s financial results and its economic well-being. Changes in the fair value of derivatives that are designated as fair value hedges, along with the gain or loss on the hedged item, are recorded in current period earnings. These risk management transactions may involve the use of foreign currency derivatives to protect against exposure resulting from recorded accounts receivable and payable. The Company may utilize forward exchange contracts, generally with maturities of less than 18 months, which qualify as cash flow hedges. Generally, these foreign exchange contracts are intended to offset the effect of exchange rate fluctuations on non-functional currency denominated sales and purchases. For derivative instruments that are designated as cash flow hedges, gains and losses are deferred in Accumulated Other Comprehensive Loss (OCL) until the underlying transaction is recognized in earnings.

For hedges designated as cash flow hedges, the Company elects critical terms that match at the onset of the hedge transaction. Hedge accounting is permitted only if the hedge meets the critical terms match requirements. The Company reviews the critical terms at each effectiveness testing date to ensure the respective terms match; therefore, achieving a highly effective hedge.
Interest Rate Hedging
Interest Rate Hedging
The Company is exposed to interest rate risk through its corporate borrowing activities. The objective of the Company’s interest rate risk management activities is to manage the levels of the Company’s fixed and floating interest rate exposure to be consistent with the Company’s preferred mix. The interest rate risk management program may include entering into interest rate swaps, which qualify as fair value hedges, when there is a desire to modify the Company’s exposure to interest rates. Gains or losses on fair value hedges are recognized in earnings, net of gains and losses on the fair value of the hedged instruments.
Net Investments Hedging
Net Investments Hedging
The Company is exposed to risk related to its net investments in foreign subsidiaries. As part of its risk management activities, the Company may enter into foreign-denominated debt to be used as a non-derivative instrument to hedge the Company’s net investment in foreign subsidiaries. The change in the fair value of debt designated as a net investment hedge is recorded in foreign currency translation in OCL.
Commodity Purchases
Commodity Purchases
The Company purchases certain commodities in the normal course of business that result in physical delivery of the goods and, hence, are excluded from ASC 815, Derivatives and Hedging.
Translation of Foreign Currencies
Translation of Foreign Currencies
For all significant foreign operations, the functional currency is the local currency. Assets and liabilities of foreign operations are translated into U.S. dollars at current exchange rates. Revenue and expense accounts are translated into U.S. dollars at average exchange rates prevailing during the year. Adjustments resulting from the translation of foreign accounts into U.S. dollars are recorded in foreign currency translation in OCL. Transaction gains and losses that occur as a result of transactions denominated in non-functional currencies are included in earnings and were not significant during the years ended December 31, 2025, 2024, and 2023.
Share-Based Compensation
Share-Based Compensation
Share-based compensation expense is recognized over the vesting period of each award based on the fair value of the instrument at the time of grant as summarized in Note 8, Share-Based Compensation.
Income Taxes
Income Taxes
The Company recognizes a current tax liability or asset for the estimated taxes payable or refundable on tax returns for the current year and a deferred tax liability or asset for the estimated future tax effects attributable to temporary differences and carryforwards. The measurement of current and deferred tax liabilities and assets is based on provisions of enacted tax law. Deferred tax assets are reduced, if necessary, by the amount of any tax benefits for which the utilization of the asset is not considered likely.
Earnings Per Share
Earnings Per Share
The difference between basic and diluted earnings per share (EPS) is the dilutive effect of non-vested stock. Diluted EPS assumes that non-vested stock has vested.

The following table sets forth the computation of basic and diluted EPS for the years ended December 31:

 
  
Years Ended December 31,
  
(In thousands except per share amounts)
  
2025
    
2024
    
2023
  
Numerator:
                  
Net earnings
  
$
134,489
    
$
124,666
    
$
93,394
  
Denominator:
                        
Denominator for basic EPS - weighted average common shares
    
42,236
      
42,145
      
42,027
  
Effect of dilutive securities
    
359
      
251
      
215
  
Denominator for diluted EPS - diluted weighted average shares outstanding
    
42,595
      
42,396
      
42,242
  
 
                        
Earnings per Common Share:
                        
Basic
  
$
3.18
    
$
2.96
    
$
2.22
  
Diluted
  
$
3.16
    
$
2.94
    
$
2.21
  

The Company has a share-based compensation plan under which employees may be granted share-based awards, in which non-forfeitable dividends are paid on non-vested shares for certain awards. As such, these shares are considered participating securities under the two-class method of calculating EPS as described in ASC 260, Earnings per Share. The two-class method of calculating EPS did not have a material impact on the Company’s EPS calculations as of December 31, 2025, 2024, and 2023.

All EPS amounts are presented on a diluted basis unless otherwise noted.
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)
OCL is composed primarily of foreign currency translation, pension liability, and unrealized gains or losses on cash flow hedges. See Note 10, Accumulated Other Comprehensive Loss, for additional information.
Research and Development
Research and Development
Research and development costs are recorded in Selling and Administrative Expenses in the year they are incurred. Research and development costs were $52.9 million, $49.1 million, and $48.1 million, during the years ended December 31, 2025, 2024, and 2023, respectively.
Advertising
Advertising
Advertising costs are recorded in Selling and Administrative Expenses as they are incurred. Advertising costs were $3.2 million, $2.6 million, and $2.5 million, during the years ended December 31, 2025, 2024, and 2023, respectively.
Environmental Liabilities
Environmental Liabilities
The Company records liabilities related to environmental remediation obligations when estimated future expenditures are probable and reasonably estimable. Such accruals are adjusted as further information becomes available or as circumstances change. Estimated future expenditures are discounted to their present value when the timing and amount of future cash flows are fixed and readily determinable. Recoveries of remediation costs from other parties, if any, are recognized as assets when their receipt is realizable.
Subsequent Events
Subsequent Events
The Company performed an evaluation of subsequent events through the date these financial statements were issued. See Note 16, Subsequent Event, for additional information.
Recently Adopted and Issued Accounting Pronouncements
Recently Adopted Accounting Pronouncements
In December 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires the Company to disclose specified additional information in its income tax rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold. This ASU also requires the Company to disaggregate its income taxes paid disclosure by federal, state, and foreign taxes, with further disaggregation required for significant individual jurisdictions. This ASU is effective for fiscal years beginning after December 15, 2024. The Company adopted this ASU in the fourth quarter of 2025 using a prospective transition method. The Company updated the disclosures included in Note 11, Income Taxes, as a result of adopting this ASU, and the adoption did not have a material impact on the Company’s consolidated financial statements.

Recently Issued Accounting Pronouncements
In November 2024, the FASB issued ASU No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40) – Disaggregation of Income Statement Expenses, which will require the Company to disclose disaggregated information about certain income statement expense line items. This ASU is effective for fiscal years beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027. The Company is currently evaluating the potential impact of this standard on its consolidated financial statements and its related disclosures.

Other recently issued accounting pronouncements are not expected to have a material impact on the Company’s consolidated financial statements.
v3.25.4
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2025
Summary of Significant Accounting Policies [Abstract]  
Weighted-Average Common Shares for the Computation of EPS
The following table sets forth the computation of basic and diluted EPS for the years ended December 31:

 
  
Years Ended December 31,
  
(In thousands except per share amounts)
  
2025
    
2024
    
2023
  
Numerator:
                  
Net earnings
  
$
134,489
    
$
124,666
    
$
93,394
  
Denominator:
                        
Denominator for basic EPS - weighted average common shares
    
42,236
      
42,145
      
42,027
  
Effect of dilutive securities
    
359
      
251
      
215
  
Denominator for diluted EPS - diluted weighted average shares outstanding
    
42,595
      
42,396
      
42,242
  
 
                        
Earnings per Common Share:
                        
Basic
  
$
3.18
    
$
2.96
    
$
2.22
  
Diluted
  
$
3.16
    
$
2.94
    
$
2.21
  
v3.25.4
Trade Accounts Receivable (Tables)
 12 Months Ended
Dec. 31, 2025
Trade Accounts Receivable [Abstract]  
Changes in Allowance for Doubtful Accounts
The following table summarizes the changes in the allowance for doubtful accounts for the years ended December 31, 2025 and 2024:

(In thousands)
  
Allowance for
Doubtful Accounts
  
Balance at December 31, 2023
  
$
4,373
  
Provision for expected credit losses
    
1,527
  
Accounts written off
    
(596
)
Translation and other activity
    
(281
)
Balance at December 31, 2024
  
$
5,023
  
Provision for expected credit losses
     288  
Accounts written off
     (488 )
Translation and other activity
     305
Balance at December 31, 2025   $ 5,128  
v3.25.4
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets [Abstract]  
Intangible Assets
At December 31, 2025 and 2024, goodwill is the only intangible asset that is not subject to amortization. The following table summarizes intangible assets with determinable useful lives by major category as of December 31, 2025 and 2024:

 
        
2025
    
2024
  
(In thousands except weighted average amortization years)
  
Weighted
Average
Amortization
Years
    
Cost
    
Accumulated
Amortization
    
Cost
    
Accumulated
Amortization
  
 
                              
Technological know-how
    
11.7
    
$
6,672
    
$
(4,351
)
  
$
6,643
    
$
(3,119
)
Customer relationships
    
19.0
      
9,637
      
(4,206
)
    
9,611
      
(3,672
)
Patents, trademarks, non-compete agreements, and other
    
15.4
      
12,749
      
(10,380
)
    
12,121
      
(9,701
)
Total finite-lived intangibles
    
15.8
    
$
29,058
    
$
(18,937
)
  
$
28,375
    
$
(16,492
)
Changes in Goodwill by Business Segment
The changes in goodwill for the years ended December 31, 2025 and 2024, by reportable business segment, were as follows:

(In thousands)
  
Flavors &
Extracts
    
Color
    
Asia Pacific
    
Consolidated
  
Balance as of December 31, 2023
  
$
103,313
    
$
316,181
    
$
4,571
    
$
424,065
  
Currency translation impact
    
(3,070
)
    
(9,001
)
    
(219
)
    
(12,290
)
Balance as of December 31, 2024
  
$
100,243
    
$
307,180
    
$
4,352
    
$
411,775
  
Currency translation impact
    
5,060
      
18,254
      
60
      
23,374
  
Acquisitions(1)
     -       4,557       -       4,557  
Balance as of December 31, 2025
  
$
105,303
    
$
329,991
    
$
4,412
    
$
439,706
  

(1)
 In 2025, the Company acquired Biolie SAS. See Note 2, Acquisitions, for additional information.

v3.25.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Maturities of Operating Lease Liabilities
As of December 31, 2025, maturities of operating lease liabilities for future annual periods are as follows:

(In thousands)
      
Year ending December 31,
      
2026
  
$
12,296
  
2027
    
10,531
  
2028
    
5,755
  
2029
    
4,767
  
2030
    
3,662
  
Thereafter
    
8,619
  
Total lease payments
    
45,630
  
Less imputed interest
    
(5,805
)
Present value of lease liabilities
  
$
39,825
  
v3.25.4
Debt (Tables)
 12 Months Ended
Dec. 31, 2025
Debt [Abstract]  
Long-Term Debt
Long-term debt consisted of the following obligations at December 31:

(In thousands)
  
2025
    
2024
  
4.19% senior notes due November 2025
   $
-
     $
25,000
  
6.08% senior notes due November 2026     35,000       35,000  
6.14% senior notes due November 2027     35,000       35,000  
4.94% senior notes due May 2028     75,000       75,000  
4.83% senior notes due November 2029     60,000       -  
6.34% senior notes due November 2029     35,000       35,000  
1.71% Euro-denominated senior notes due May 2027
    
46,981
      
41,416
  
4.15% Euro-denominated senior notes due May 2028     46,981       41,416  
4.62% Euro-denominated senior notes due November 2029     46,981       41,416  
2.76% British Pound-denominated notes due November 2025
    
-
      
31,289
  
Euro-denominated term loan
    
88,090
      
77,657
  
Revolving Credit Facilities
    
240,488
      
175,125
  
Various other notes
    
369
      
536
  
Total debt
    
709,890
      
613,855
  
Less debt fees
    
(429
)
    
(133
)
Less current portion
    
(229
)
    
(199
)
Total long-term debt
  
$
709,232
    
$
613,523
  
Contractual Maturities on Long-Term Debt
The aggregate amounts of contractual maturities on long-term debt subsequent to December 31, 2025, are as follows:

(In thousands)
      
Year ending December 31,
      
2026
   $
139,845
  
2027
    
170,103
  
2028
    
121,889
  
2029
    
141,907
  
2030
     135,488
  
Total long-term debt maturities
  
$
709,232
  
Short-Term Borrowings
The Company’s short-term borrowings consisted of the following items at December 31:

(In thousands)
  
2025
    
2024
  
U.S. credit facilities
  
$
-
    
$
18,382
  
Current maturities of long-term debt
    
229
      
199
  
Loans of foreign subsidiaries
     123
       1,267
  
Total
  
$
352
    
$
19,848
  
v3.25.4
Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Compensation [Abstract]  
Non-vested Stock and Performance Unit Activity
The following table summarizes the non-vested stock and performance stock unit activity:

 
(In thousands except fair value)
  
Shares
    
Grant Date
Weighted Average
Fair Value
    
Aggregate Intrinsic
Value
  
Outstanding at December 31, 2022
    
519
    
$
73.19
    
$
37,883
  
Granted
    
201
      
61.61
          
Vested, net
    
(179
)
    
63.02
          
Cancelled
    
(5
)
    
72.45
          
Outstanding at December 31, 2023
    
536
      
72.26
      
35,383
  
Granted
    
190
      
71.79
          
Vested, net
    
(115
)
    
79.47
          
Cancelled
    
(70
)
    
70.87
          
Outstanding at December 31, 2024
    
541
      
70.74
      
38,517
  
Granted
    
178
      
90.41
          
Vested, net
    
(112
)
    
81.48
          
Cancelled
    
(27
)
    
81.89
          
Outstanding at December 31, 2025
    
580
    
$
74.18
    
$
54,453
  
v3.25.4
Retirement Plans (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Plans [Abstract]  
Funded Status of Defined Benefit Plan
Although the Company intends for these defined contribution plans to be the primary retirement benefit for most employees, the Company also has several defined benefit plans. The funded status of the defined benefit plans was as follows at December 31:

(In thousands)
  
2025
    
2024
  
Benefit obligation at beginning of year
  
$
30,887
    
$
36,413
  
Service cost
    
1,506
      
1,736
  
Interest cost
    
1,817
      
1,839
  
Foreign currency exchange rate changes
    
1,284
      
(979
)
Benefits paid
    
(1,854
)
    
(5,266
)
Actuarial loss (gain)
    
678
      
(2,856
)
Benefit obligation at end of year
    
34,318
      
30,887
  
Plan assets at beginning of year
    
18,972
      
21,270
  
Company contributions
    
801
      
4,192
  
Foreign currency exchange rate changes
    
1,137
      
(544
)
Benefits paid
    
(1,854
)
    
(5,266
)
Actual gain (loss) on plan assets
    
714
      
(680
)
Plan assets at end of year
    
19,770
      
18,972
  
Funded status
  
$
(14,548
)
  
$
(11,915
)
Accumulated benefit obligation
  
$
32,315
    
$
29,480
  
Amounts Recognized in Consolidated Balance Sheets
Amounts recognized in the Consolidated Balance Sheets at December 31:

(In thousands)
  
2025
    
2024
  
Accrued employee and retiree benefits
   $ (14,226 )  
$
(15,882
)
Other accrued expenses
    
(4,991
)
    
(693
)
Other assets
    
4,669
      
4,660
  
Net liability
  
$
(14,548
)
  
$
(11,915
)
Annual Benefit Cost
Components of annual benefit cost:

(In thousands)
  
2025
    
2024
    
2023
  
Service cost
  
$
1,506
    
$
1,736
    
$
1,741
  
Interest cost
    
1,817
      
1,839
      
1,886
  
Expected return on plan assets
    
(1,093
)
    
(1,237
)
    
(1,007
)
Recognized actuarial gain
    
(305
)
    
(359
)
    
(656
)
Settlement income
    
-
      
(610
)
    
-
  
Defined benefit expense
  
$
1,925
    
$
1,369
    
$
1,964
  
Weighted Average Assumptions
Weighted average liability assumptions as of December 31:

 
  
2025
    
2024
  
Discount rate
    
5.51
%
    
5.83
%
Expected return on plan assets
    
5.83
%
    
5.71
%
Rate of compensation increase
    
1.28
%
    
1.17
%

Weighted average cost assumptions for the year ended December 31:

 
  
2025
    
2024
    
2023
  
Discount rate
    
5.83
%
    
5.15
%
    
5.12
%
Expected return on plan assets
    
5.71
%
    
4.91
%
    
4.89
%
Rate of compensation increase
    
1.17
%
    
1.14
%
    
0.90
%
Amounts Recognized in Accumulated Other Comprehensive Loss
Amounts in Accumulated other comprehensive loss at December 31 were as follows:

(In thousands)
  
2025
    
2024
  
Unrecognized net actuarial loss
  
$
4,627
    
$
2,996
  
Prior service cost
    
151
      
146
  
Total before tax effects
  
$
4,778
    
$
3,142
  
Pension Adjustments Recognized in Accumulated Other Comprehensive Loss
The pension adjustments, net of tax, recognized in OCL, were as follows:

(In thousands)
  
2025
    
2024
    
2023
  
Net actuarial (loss) gain arising during the period
  
$
(818
)
  
$
665
    
$
192
  
Amortization of actuarial gain, included in defined benefit expense
    
(226
)
    
(934
)
    
(479
)
Pension adjustment, net of tax
  
$
(1,044
)
  
$
(269
)
  
$
(287
)
Pension Plan Assets by Asset Category
The following table presents the Company’s pension plan assets by asset category as of December 31, 2025 and 2024:

 
  
Fair Value
as of
December 31,
    
Fair Value Measurements at
December 31, 2025
Using Fair Value Hierarchy
    
Fair Value
as of
December 31,
    
Fair Value Measurements at
December 31, 2024
Using Fair Value Hierarchy
  
(In thousands)
  
2025
    
Level 1
    
Level 2
    
Level 3
    
2024
    
Level 1
    
Level 2
    
Level 3
  
Equity Funds
                                                
Domestic
  
$
5,637
    
$
5,637
    
$
—
    
$
—
    
$
5,496
    
$
5,496
    
$
—
    
$
—
  
International
    
20
      
—
      
20
      
—
      
28
      
—
      
28
      
—
  
International Fixed Income Funds
    
13,868
      
2,137
      
11,731
      
—
      
13,116
      
1,655
      
11,461
      
—
  
Other investments
    
245
      
228
      
17
      
—
      
332
      
321
      
11
      
—
  
Total assets at fair value
  
$
19,770
    
$
8,002
    
$
11,768
    
$
—
    
$
18,972
    
$
7,472
    
$
11,500
    
$
—
  
v3.25.4
Accumulated Other Comprehensive Loss (Tables)
 12 Months Ended
Dec. 31, 2025
Accumulated Other Comprehensive Loss [Abstract]  
Changes in OCL
The following table summarizes the changes in OCL for 2025, 2024, and 2023:

(In thousands)
  
Cash Flow
Hedges (1)
    
Pension
Items (1)
    
Foreign Currency
Items
    
Total
  
Balance as of December 31, 2022
  
$
(599
)
  
$
(1,792
)
  
$
(198,297
)
  
$
(200,688
)
Other comprehensive income before reclassifications
    
3,833
      
192
      
27,262
      
31,287
  
Amounts reclassified from OCL
    
(2,237
)
    
(479
)
    
-
      
(2,716
)
Balance as of December 31, 2023
  
$
997
    
$
(2,079
)
  
$
(171,035
)
  
$
(172,117
)
Other comprehensive (loss) income before reclassifications
    
(1,723
)
    
665
      
(53,146
)
    
(54,204
)
Amounts reclassified from OCL
    
416
      
(934
)
    
-
      
(518
)
Balance as of December 31, 2024
  
$
(310
)
  
$
(2,348
)
  
$
(224,181
)
  
$
(226,839
)
Other comprehensive income (loss) before reclassifications
    
1,994
      
(818
)
    
57,290
      
58,466
  
Amounts reclassified from OCL
    
(1,654
)
    
(226
)
    
-
      
(1,880
)
Balance as of December 31, 2025
  
$
30
    
$
(3,392
)
  
$
(166,891
)
  
$
(170,253
)
(1)
Cash Flow Hedges and Pension Items are net of tax.
v3.25.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Taxes [Abstract]  
Earnings Before Income Taxes
Earnings before income taxes were as follows:

(In thousands)
  
2025
    
2024
    
2023
  
United States
  
$
66,358
    
$
57,318
    
$
45,900
  
Foreign
    
111,189
      
105,480
      
83,951
  
Total
  
$
177,547
    
$
162,798
    
$
129,851
  
Provision for Income Taxes
The provision for income taxes was as follows:

(In thousands)
  
2025
    
2024
    
2023
  
Current income tax expense:
                  
Federal
  
$
13,395
    
$
20,307
    
$
11,153
  
State
    
1,936
      
3,375
      
2,814
  
Foreign
    
30,432
      
33,048
      
27,590
  
 
    
45,763
      
56,730
      
41,557
  
Deferred expense (benefit):
                        
Federal
    
46
   
(12,743
)
    
(4,656
)
State
    
(1,338
)
    
(581
)
    
(813
)
Foreign
    
(1,413
)
    
(5,274
)
    
369
 
    
(2,705
)
    
(18,598
)
    
(5,100
)
Income taxes
  
$
43,058
    
$
38,132
    
$
36,457
  
Income Taxes Payments
Payments of income taxes were as follows:

(In thousands)
  
2025
  
Federal
   $ 13,686  
State
     3,211  
Germany
     7,389  
Thailand     4,904  
Mexico     3,846  
China
     3,141  
France
     2,408  
Foreign - Other
     10,221  
Total
   $ 48,806  
Effective Income Tax Rate Reconciliation
The company adopted ASU 2023-09 prospectively in 2025. The 2025 reconciliation between the U.S. Federal tax rate and the actual effective tax rate under ASU 2023-09 is below. The reconciliation for 2024 and 2023 under the prior guidance follows.


  
2025
  

  Amount     Percent  
Taxes at statutory rate
   $ 37,285       21.0 %
State income taxes, net of federal income tax benefit
                
Wisconsin1
     (1,053 )     (0.6 )
Other state income taxes1
    
1,140
       0.6  
Tax credits
                
Research and Development tax credits
     (3,674 )     (2.1 )
Foreign tax effects
                
Germany
                
Foreign statutory tax rate difference
     (1,622 )     (0.9 )
Enacted change in tax rate impact on deferred items
     (1,726 )     (1.0 )
Local taxes
     4,039       2.3  
Other foreign jurisdictions
     6,823       3.9  
Effect of cross-border taxes
                
Global intangible low-taxed income
     474       0.3  
Foreign derived intangible income
     (2,175 )     (1.2 )
Other effects of cross-border taxes
     733       0.4  
Nontaxable or nondeductible items
                
Nondeductible compensation
     2,452       1.4  
Other nontaxable or nondeductible items
     (155 )     (0.1 )
Changes in unrecognized benefits
     198       0.1  
Other reconciling items
     319       0.2  
Effective taxes and tax rate
   $ 43,058       24.3 %

1 Wisconsin had a release of a valuation allowance related to its net operating loss. The states that make up the majority of the Other state income taxes category are California and Illinois.

 
  
2024
    
2023
  
Taxes at statutory rate
    
21.0
%
    
21.0
%
State income taxes, net of federal income tax benefit
    
1.0
      
1.1
  
Tax credits
    
(1.6
)
    
(1.9
)
Taxes on foreign earnings
    
4.1
      
4.8
  
Global Intangible Low-Taxed Income
    
0.5
      
0.6
  
Foreign Derived Intangible Income
    
(1.2
)
    
(1.3
)
Resolution of prior years’ tax matters
    
0.6
      
0.3
  
Valuation allowance adjustments
    
(1.4
)
    
2.8
  
Nondeductible compensation
     0.9       1.2  
Other, net
    
(0.5
)
    
(0.5
)
Effective tax rate
    
23.4
%
    
28.1
%
Tax Effects of Temporary Differences - Deferred Tax Assets and Liabilities
The tax effects of temporary differences that give rise to significant portions of deferred tax assets and liabilities consisted of the following:

(In thousands)
  
2025
    
2024
  
Deferred tax assets:
            
Benefit plans
  
$
10,859
    
$
8,123
  
Liabilities and reserves
    
20,886
      
20,322
  
Operating loss and credit carryovers
    
58,598
      
59,834
  
Capitalized research and development costs
     22,745       18,666  
Other
    
20,788
      
5,355
  
Gross deferred tax assets
    
133,876
      
112,300
  
Valuation allowance
    
(29,053
)
    
(29,743
)
Deferred tax assets
    
104,823
      
82,557
  
Deferred tax liabilities:
                
Property, plant, and equipment
    
(28,265
)
    
(26,092
)
Goodwill
    
(19,005
)
    
(20,685
)
Deferred tax liabilities
    
(47,270
)
    
(46,777
)
Net deferred tax assets
  
$
57,553
    
$
35,780
  
Reconciliation of Change in Liability for Unrecognized Tax Benefits
A reconciliation of the change in the liability for unrecognized tax benefits for 2025 and 2024 is as follows:

(In thousands)
  
2025
    
2024
  
Balance at beginning of year
  
$
4,391
    
$
4,251
  
Increases for tax positions taken in the current year
    
840
      
865
  
Increases for tax positions taken in prior years     130       422  
Decreases related to settlements with tax authorities
    
(736
)
    
-
  
Decreases as a result of lapse of the applicable statutes of limitations
    
(952
)
    
(765
)
Foreign currency exchange rate changes
    
457
      
(382
)
Balance at the end of year
  
$
4,130
    
$
4,391
  
v3.25.4
Segment and Geographic Information (Tables)
 12 Months Ended
Dec. 31, 2025
Segment and Geographic Information [Abstract]  
Segment Information
(In thousands)
  
Flavors &
Extracts
    
Color
    
Asia Pacific
    
Corporate
& Other
    
Total
  
2025:
                              
Total segment revenue  
$
786,943
    
$
700,595
    
$
168,156
    
$
—
    
$
1,655,694
  
Intersegment revenue
    
(23,059
)
    
(20,226
)
    
(298
)
    
—
      
(43,583
)
Consolidated revenue from external customers
    
763,884
      
680,369
      
167,858
      
—
      
1,612,111
  
Cost of products sold
    560,639       406,632       98,009       7,531       1,072,811  
Selling and administrative expenses
     102,504       132,458       33,227       63,983       332,172  
Segment operating income (loss)
    
100,741
      
141,279
      
36,622
      
(71,514
)
    
207,128
  
Interest expense
                                    
29,581
  
Earnings before income taxes
                                  
$
177,547
  
 
                                        
Assets
    
907,127
      
894,806
      
128,102
      
314,102
      
2,244,137
  
Capital expenditures
    
48,057
      
32,552
      
2,674
      
6,126
      
89,409
  
Depreciation and amortization
    
30,347
      
24,598
      
2,302
      
3,851
      
61,098
  
 
                                        
2024:
                                        
Total segment revenue
  
$
793,698
    
$
647,939
    
$
162,525
    
$
—
    
$
1,604,162
  
Intersegment revenue
    
(28,175
)
    
(18,648
)
    
(111
)
    
—
      
(46,934
)
Consolidated revenue from external customers
    
765,523
      
629,291
      
162,414
      
—
      
1,557,228
  
Cost of products sold
    565,486       387,364       95,923       1,362       1,050,135  
Selling and administrative expenses
     102,943       122,398       32,033       58,140       315,514  
Segment operating income (loss)
    
97,094
      
119,529
      
34,458
      
(59,502
)
    
191,579
  
Interest expense
                                    
28,781
  
Earnings before income taxes
                                  
$
162,798
  
 
                                        
Assets
    
802,177
      
819,380
      
116,817
      
285,420
      
2,023,794
  
Capital expenditures
    
29,237
      
21,722
      
2,375
      
5,878
      
59,212
  
Depreciation and amortization
    
30,437
      
23,417
      
2,472
      
4,003
      
60,329
  
 
                                        
2023:
                                        
Total segment revenue
  
$
741,072
    
$
607,959
    
$
146,090
    
$
—
    
$
1,495,121
  
Intersegment revenue
    
(25,023
)
    
(13,643
)
    
(5
)
    
—
      
(38,671
)
Consolidated revenue from external customers
    
716,049
      
594,316
      
146,085
      
—
      
1,456,450
  
Cost of products sold
    530,769       376,512       85,737       3,135       996,153  
Selling and administrative expenses
     97,507       112,434       29,548       65,785       305,274  
Segment operating income (loss)
    
87,773
      
105,370
      
30,800
      
(68,920
)
    
155,023
  
Interest expense
                                    
25,172
  
Earnings before income taxes
                                  
$
129,851
  

                                       
Assets
    
792,674
      
846,559
      
112,335
      
262,939
      
2,014,507
  
Capital expenditures
    
40,489
      
37,720
      
2,923
      
6,736
      
87,868
  
Depreciation and amortization
    
29,400
      
22,294
      
2,548
      
3,578
      
57,820
  
Geographical Information
The Company’s annual revenue summarized by geographic location is as follows:

 
(In thousands)
  
Flavors &
Extracts
    
Color
    
Asia Pacific
    
Corporate
& Other
    
Consolidated
  
2025:
                              
Revenue from external customers:
                              
North America
  
$
602,252
    
$
332,975
    
$
56
    
$
—
    
$
935,283
  
Europe
    
118,566
      
196,189
      
53
      
—
      
314,808
  
Asia Pacific
    
17,806
      
66,343
      
163,386
      
—
      
247,535
  
Other
    
25,260
      
84,862
      
4,363
      
—
      
114,485
  
Total revenue from external customers
  
$
763,884
    
$
680,369
    
$
167,858
    
$
—
    
$
1,612,111
  
Long-lived assets:
                                        
North America
  
$
323,284
    
$
286,871
    
$
—
    
$
145,996
    
$
756,151
  
Europe
    
80,200
      
262,984
      
—
      
26
      
343,210
  
Asia Pacific
    
—
      
3,924
      
31,056
      
—
      
34,980
  
Other
    
584
      
27,764
      
—
      
—
      
28,348
  
Total long-lived assets
  
$
404,068
    
$
581,543
    
$
31,056
    
$
146,022
    
$
1,162,689
  
 
                                        
2024:
                                        
Revenue from external customers:
                                        
North America
  
$
597,046
    
$
313,180
    
$
100
    
$
—
    
$
910,326
  
Europe
    
124,257
      
169,185
      
149
      
—
      
293,591
  
Asia Pacific
    
17,878
      
64,600
      
156,243
      
—
      
238,721
  
Other
    
26,342
      
82,326
      
5,922
      
—
      
114,590
  
Total revenue from external customers
  
$
765,523
    
$
629,291
    
$
162,414
    
$
—
    
$
1,557,228
  
Long-lived assets:
                                        
North America
  
$
296,479
    
$
272,418
    
$
—
    
$
124,917
    
$
693,814
  
Europe
    
78,041
      
231,961
      
—
      
23
      
310,025
  
Asia Pacific
    
—
      
3,655
      
29,317
      
—
      
32,972
  
Other
    
764
      
24,333
      
—
      
—
      
25,097
  
Total long-lived assets
  
$
375,284
    
$
532,367
    
$
29,317
    
$
124,940
    
$
1,061,908
  
 
                                        
2023:
                                        
Revenue from external customers:
                                        
North America
  
$
553,790
    
$
304,995
    
$
125
    
$
—
    
$
858,910
  
Europe
    
113,757
      
162,644
      
236
      
—
      
276,637
  
Asia Pacific
    
21,382
      
58,003
      
142,281
      
—
      
221,666
  
Other
    
27,120
      
68,674
      
3,443
      
—
      
99,237
  
Total revenue from external customers
  
$
716,049
    
$
594,316
    
$
146,085
    
$
—
    
$
1,456,450
  
Long-lived assets:
                                        
North America
  
$
297,615
    
$
277,730
    
$
—
    
$
114,995
    
$
690,340
  
Europe
    
82,938
      
244,587
      
—
      
24
      
327,549
  
Asia Pacific
    
8
      
4,199
      
30,473
      
—
      
34,680
  
Other
    
241
      
25,081
      
—
      
—
      
25,322
  
Total long-lived assets
  
$
380,802
    
$
551,597
    
$
30,473
    
$
115,019
    
$
1,077,891
  
Product Lines
The Company’s revenue summarized by product portfolio is as follows:

 
(In thousands)
  
Flavors &
Extracts
    
Color
    
Asia Pacific
    
Consolidated
  
2025:
                        
Flavors, Extracts & Flavor Ingredients
  
$
528,770
    
$
—
    
$
—
    
$
528,770
  
Agricultural Ingredients
    
258,173
      
—
      
—
      
258,173
  
Food & Pharmaceutical Colors
    
—
      
529,471
      
—
      
529,471
  
Personal Care
    
—
      
171,124
      
—
      
171,124
  
Asia Pacific
    
—
      
—
      
168,156
      
168,156
  
Intersegment Revenue
    
(23,059
)
    
(20,226
)
    
(298
)
    
(43,583
)
Total revenue from external customers
  
$
763,884
    
$
680,369
    
$
167,858
    
$
1,612,111
  
                                 
2024:
                                
Flavors, Extracts & Flavor Ingredients
  
$
508,052
    
$
—
    
$
—
    
$
508,052
  
Agricultural Ingredients
    
285,646
      
—
      
—
      
285,646
  
Food & Pharmaceutical Colors
    
—
      
481,141
      
—
      
481,141
  
Personal Care
    
—
      
166,798
      
—
      
166,798
  
Asia Pacific
    
—
      
—
      
162,525
      
162,525
  
Intersegment Revenue
    
(28,175
)
    
(18,648
)
    
(111
)
    
(46,934
)
Total revenue from external customers
  
$
765,523
    
$
629,291
    
$
162,414
    
$
1,557,228
  
                                 
2023:
                                
Flavors, Extracts & Flavor Ingredients
  
$
496,036
    
$
—
    
$
—
    
$
496,036
  
Agricultural Ingredients
    
245,036
      
—
      
—
      
245,036
  
Food & Pharmaceutical Colors
    
—
      
452,204
      
—
      
452,204
  
Personal Care
    
—
      
155,755
      
—
      
155,755
  
Asia Pacific
    
—
      
—
      
146,090
      
146,090
  
Intersegment Revenue
    
(25,023
)
    
(13,643
)
    
(5
)
    
(38,671
)
Total revenue from external customers
  
$
716,049
    
$
594,316
    
$
146,085
    
$
1,456,450
  
v3.25.4
Portfolio Optimization Plan (Tables)
 12 Months Ended
Dec. 31, 2025
Portfolio Optimization Plan [Abstract]  
Portfolio Optimization Plan Expenses by Segment

The following table summarizes the Portfolio Optimization Plan expenses by segment for the year ended December 31, 2025:




(In thousands)
  
Flavors &
Extracts
    

Color
    
Corporate
& Other
    

Consolidated
  
Non-cash impairment charges – Selling and administrative expenses
  
$
953
    
$
-
    
$
-
    
$
953
  
Non-cash charges – Cost of products sold
    
4,344
      
-
      
-
      
4,344
  
Employee separation – Selling and administrative expenses
    
758
      
8
      
-
      
766
  
Other production costs – Cost of products sold
    
3,187
      
-
      
-
      
3,187
  
Other costs – Selling and administrative expenses(1)
    
5,986
      
403
      
167
      
6,556
  
Total
  
$
15,228
    
$
411
    
$
167
    
$
15,806
  




(1)
Other costs include professional services, decommissioning costs, and other related costs.



The following table summarizes the Portfolio Optimization Plan expenses by segment for the year ended December 31, 2024:

 
(In thousands)
  
Flavors &
Extracts
    
Color
    
Corporate
& Other
    
Consolidated
  
Non-cash impairment charges – Selling and administrative expenses
  
$
-
    
$
1,129
    
$
-
    
$
1,129
  
Non-cash charges – Cost of products sold
    
934
      
(194
)
    
-
      
740
  
Employee separation – Selling and administrative expenses
    
1,450
      
583
      
26
      
2,059
  
Other production costs – Cost of products sold
    
622
      
-
      
-
      
622
  
Other costs – Selling and administrative expenses(1)
    
1,813
      
382
      
(114
)
    
2,081
  
Total
  
$
4,819
    
$
1,900
    
$
(88
)
  
$
6,631
  



(1)
Other costs include professional services, decommissioning costs, and other related costs.


The following table summarizes the Portfolio Optimization Plan expenses by segment for the year ended December 31, 2023:


 
(In thousands)
  
Flavors &
Extracts
    

Color
    
Corporate
& Other
    
Consolidated
  
Non-cash impairment charges – Selling and administrative expenses
  
$
11,599
    
$
9,355
    
$
-
    
$
20,954
  
Non-cash charges – Cost of products sold
    
2,040
      
1,095
      
-
      
3,135
  
Employee separation – Selling and administrative expenses
    
2,820
      
288
      
108
      
3,216
  
Other costs – Selling and administrative expenses(1)
    
39
      
497
      
-
      
536
  
Total
  
$
16,498
    
$
11,235
    
$
108
    
$
27,841
  


(1)
Other costs include legal settlements, professional services, and other related costs.
v3.25.4
Summary of Significant Accounting Policies, Nature of Operations (Details)
 12 Months Ended
Dec. 31, 2025
Segment
Nature of Operations [Abstract]  
Number of reportable segments 3
v3.25.4
Summary of Significant Accounting Policies, Inventories (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Inventories [Abstract]    
Inventories include finished and in-process products $ 491.4 $ 426.8
Raw materials and supplies 186.8 173.5
Non-cash impairment charges $ 4.3 $ 0.7
v3.25.4
Summary of Significant Accounting Policies, Property Plant and Equipment (Details)
Dec. 31, 2025
Building and Leasehold Improvements [Member] | Minimum [Member]  
Property, Plant, and Equipment [Abstract]  
Estimated useful lives 5 years
Building and Leasehold Improvements [Member] | Maximum [Member]  
Property, Plant, and Equipment [Abstract]  
Estimated useful lives 40 years
Machinery and Equipment [Member] | Minimum [Member]  
Property, Plant, and Equipment [Abstract]  
Estimated useful lives 3 years
Machinery and Equipment [Member] | Maximum [Member]  
Property, Plant, and Equipment [Abstract]  
Estimated useful lives 20 years
v3.25.4
Summary of Significant Accounting Policies, Intangible Assets (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Intangible assets [Abstract]      
Impairment charge $ 0 $ 0 $ 0
Minimum [Member]      
Intangible assets [Abstract]      
Useful lives of intangible assets 5 years    
Maximum [Member]      
Intangible assets [Abstract]      
Useful lives of intangible assets 25 years    
v3.25.4
Summary of Significant Accounting Policies, Derivative Financial Instruments (Details) - Maximum [Member]
 12 Months Ended
Dec. 31, 2025
Derivative Financial Instruments [Abstract]  
Number of months for contracts to mature 18 months
Forward Exchange Contracts [Member]  
Derivative Financial Instruments [Abstract]  
Number of months for contracts to mature 18 months
v3.25.4
Summary of Significant Accounting Policies, Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Numerator [Abstract]      
Net earnings $ 134,489 $ 124,666 $ 93,394
Denominator [Abstract]      
Denominator for basic EPS - weighted average common shares (in shares) 42,236 42,145 42,027
Effect of dilutive securities (in shares) 359 251 215
Denominator for diluted EPS - diluted weighted average shares outstanding (in shares) 42,595 42,396 42,242
Earnings per Common Share [Abstract]      
Basic (in dollars per share) $ 3.18 $ 2.96 $ 2.22
Diluted (in dollars per share) $ 3.16 $ 2.94 $ 2.21
v3.25.4
Summary of Significant Accounting Policies, Research and Development (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Research and Development [Abstract]      
Research and development costs $ 52.9 $ 49.1 $ 48.1
v3.25.4
Summary of Significant Accounting Policies, Advertising (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Advertising [Abstract]      
Advertising costs $ 3.2 $ 2.6 $ 2.5
v3.25.4
Acquisition (Details) - USD ($)
$ in Thousands
 12 Months Ended
Feb. 14, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Acquisition [Abstract]        
Acquisition of new businesses   $ 4,867 $ 0 $ 1,650
Goodwill   $ 439,706 $ 411,775 $ 424,065
Biolie SAS [Member]        
Acquisition [Abstract]        
Acquisition of new businesses $ 4,900      
Debt assumed 200      
Net assets acquired 300      
Goodwill $ 4,600      
v3.25.4
Trade Accounts Receivable (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Segment
Dec. 31, 2024
USD ($)
Trade Accounts Receivable [Abstract]    
Number of portfolio segments | Segment 1  
Accounts Receivable, Allowance for Credit Loss [Roll Forward]    
Beginning balance $ 5,023 $ 4,373
Provision for expected credit losses 288 1,527
Accounts written off (488) (596)
Translation and other activity 305 (281)
Ending balance $ 5,128 $ 5,023
v3.25.4
Goodwill and Intangible Assets, Intangible Assets (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Intangible assets [Abstract]      
Cost $ 29,058 $ 28,375  
Accumulated Amortization (18,937) (16,492)  
Intangible assets expense [Abstract]      
Amortization expense of intangible assets 2,100 1,700 $ 2,300
Estimated Amortization Expense [Abstract]      
2026 1,600    
2027 1,200    
2028 1,000    
2029 900    
2030 $ 900    
Weighted Average [Member]      
Intangible assets [Abstract]      
Weighted Average Amortization Years 15 years 9 months 18 days    
Technological Know-how [Member]      
Intangible assets [Abstract]      
Cost $ 6,672 6,643  
Accumulated Amortization $ (4,351) (3,119)  
Technological Know-how [Member] | Weighted Average [Member]      
Intangible assets [Abstract]      
Weighted Average Amortization Years 11 years 8 months 12 days    
Customer Relationships [Member]      
Intangible assets [Abstract]      
Cost $ 9,637 9,611  
Accumulated Amortization $ (4,206) (3,672)  
Customer Relationships [Member] | Weighted Average [Member]      
Intangible assets [Abstract]      
Weighted Average Amortization Years 19 years    
Patents, Trademarks, Non-compete Agreements and Other [Member]      
Intangible assets [Abstract]      
Cost $ 12,749 12,121  
Accumulated Amortization $ (10,380) $ (9,701)  
Patents, Trademarks, Non-compete Agreements and Other [Member] | Weighted Average [Member]      
Intangible assets [Abstract]      
Weighted Average Amortization Years 15 years 4 months 24 days    
v3.25.4
Goodwill and Intangible Assets, Goodwill (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Goodwill activity [Roll Forward]    
Balance as of beginning of period $ 411,775 $ 424,065
Currency translation impact 23,374 (12,290)
Acquisitions [1] 4,557  
Balance as of end of period 439,706 411,775
Flavors & Extracts [Member]    
Goodwill activity [Roll Forward]    
Balance as of beginning of period 100,243 103,313
Currency translation impact 5,060 (3,070)
Acquisitions [1] 0  
Balance as of end of period 105,303 100,243
Color [Member]    
Goodwill activity [Roll Forward]    
Balance as of beginning of period 307,180 316,181
Currency translation impact 18,254 (9,001)
Acquisitions [1] 4,557  
Balance as of end of period 329,991 307,180
Asia Pacific [Member]    
Goodwill activity [Roll Forward]    
Balance as of beginning of period 4,352 4,571
Currency translation impact 60 (219)
Acquisitions [1] 0  
Balance as of end of period $ 4,412 $ 4,352
[1] In 2025, the Company acquired Biolie SAS. See Note 2, Acquisitions, for additional information.
v3.25.4
Leases (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]      
Extended lease term 5 years    
Operating lease expense $ 14,000 $ 13,400 $ 11,900
Cash paid for operating leases 13,300 11,500 10,300
Right-of-use assets in exchange for operating lease obligations 12,000 9,000 $ 9,000
Right-of-use assets $ 39,900 $ 36,400  
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Other Assets, Noncurrent Other Assets, Noncurrent  
Operating lease, liability, Current $ 10,600 $ 7,700  
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] Other Accrued Liabilities, Current Other Accrued Liabilities, Current  
Operating lease, liability, Noncurrent $ 29,200 $ 28,700  
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] Other Liabilities, Noncurrent Other Liabilities, Noncurrent  
Weighted average remaining operating lease term 5 years 7 months 6 days 6 years 10 months 24 days  
Weighted average discount rate for operating leases 4.57% 4.20%  
Maturities of Operating Lease Liabilities [Abstract]      
2026 $ 12,296    
2027 10,531    
2028 5,755    
2029 4,767    
2030 3,662    
Thereafter 8,619    
Total lease payments 45,630    
Less imputed interest (5,805)    
Present value of lease liabilities $ 39,825    
Operating Lease, Liability, Statement of Financial Position [Extensible List] Other Liabilities, Noncurrent    
v3.25.4
Debt (Details)
$ in Thousands, £ in Millions
 1 Months Ended 12 Months Ended
Nov. 30, 2025
USD ($)
Jun. 30, 2025
USD ($)
Dec. 31, 2025
USD ($)
Interest / Debt
Nov. 30, 2025
GBP (£)
Dec. 31, 2024
USD ($)
Long term debt [Abstract]          
Long term debt     $ 709,890   $ 613,855
Less debt fees     (429)   (133)
Less current portion     (229)   (199)
Long-term debt     709,232   613,523
Maximum borrowing capacity     105,000    
Aggregate amounts of contractual maturities of long-term debt [Abstract]          
2026     139,845    
2027     170,103    
2028     121,889    
2029     141,907    
2030     135,488    
Total long-term debt maturities     709,232    
Stand-by letters of credit outstanding     3,300   3,400
Short-term borrowings [Abstract]          
Short-term borrowings     352   19,848
Current maturities of long-term debt     $ 229   $ 199
Weighted-average interest rates on short-term borrowings     5.03%   5.67%
Minimum [Member]          
Long term debt [Abstract]          
Interest coverage, required | Interest / Debt     3    
Minimum [Member] | Fourth Amended and Restated Credit Agreement [Member]          
Long term debt [Abstract]          
Revolving credit facility extended maturity term   May 01, 2026      
Minimum [Member] | Loan Agreement with PNC Bank [Member]          
Long term debt [Abstract]          
Revolving credit facility extended maturity term   Nov. 01, 2025      
Minimum [Member] | Receivables Purchase Agreement [Member]          
Long term debt [Abstract]          
Increase in line of credit facility   $ 85,000      
Termination date extended   Aug. 01, 2025      
Maximum [Member]          
Long term debt [Abstract]          
Debt to EBITDA, required | Interest / Debt     3.5    
Maximum [Member] | Fourth Amended and Restated Credit Agreement [Member]          
Long term debt [Abstract]          
Revolving credit facility extended maturity term   Jun. 01, 2030      
Maximum [Member] | Loan Agreement with PNC Bank [Member]          
Long term debt [Abstract]          
Revolving credit facility extended maturity term   Jun. 01, 2027      
Maximum [Member] | Receivables Purchase Agreement [Member]          
Long term debt [Abstract]          
Increase in line of credit facility   $ 105,000      
Termination date extended   Aug. 01, 2026      
SOFR [Member]          
Long term debt [Abstract]          
Debt term     1 month    
Applicable Margin [Member]          
Long term debt [Abstract]          
Interest rate on secured loan   0.775%      
Revolving Credit Facility [Member]          
Long term debt [Abstract]          
Long term debt     $ 240,488   $ 175,125
Average interest rate     4.44%   5.46%
Long term debt additional disclosures [Abstract]          
Remaining borrowing capacity     $ 261,200    
Revolving Credit Facility [Member] | Fourth Amended and Restated Credit Agreement [Member]          
Long term debt [Abstract]          
Maximum borrowing capacity   $ 400,000      
Revolving Credit Facility [Member] | Minimum [Member] | Fourth Amended and Restated Credit Agreement [Member]          
Long term debt [Abstract]          
Increase in line of credit facility   350,000      
Revolving Credit Facility [Member] | Maximum [Member] | Fourth Amended and Restated Credit Agreement [Member]          
Long term debt [Abstract]          
Increase in line of credit facility   400,000      
Other Line of Credit Facility [Member]          
Long term debt additional disclosures [Abstract]          
Remaining borrowing capacity     6,000    
Sublimit on Swing Line Loans [Member] | Maximum [Member] | Fourth Amended and Restated Credit Agreement [Member]          
Long term debt [Abstract]          
Maximum borrowing capacity   50,000      
Incremental Revolving Commitment [Member] | Minimum [Member] | Fourth Amended and Restated Credit Agreement [Member]          
Long term debt [Abstract]          
Increase in line of credit facility   100,000      
Incremental Revolving Commitment [Member] | Maximum [Member] | Fourth Amended and Restated Credit Agreement [Member]          
Long term debt [Abstract]          
Increase in line of credit facility   150,000      
Letter of Credit [Member] | Maximum [Member] | Fourth Amended and Restated Credit Agreement [Member]          
Long term debt [Abstract]          
Maximum borrowing capacity   $ 20,000      
4.19% Senior Notes due November 2025 [Member]          
Long term debt [Abstract]          
Long term debt     $ 0   $ 25,000
Senior notes $ 25,000        
Maturity date Nov. 01, 2025   Nov. 30, 2025    
Interest rate on secured loan 4.19%   4.19% 4.19%  
6.08% Senior Notes Due November 2026 [Member]          
Long term debt [Abstract]          
Long term debt     $ 35,000   35,000
Maturity date     Nov. 30, 2026    
Interest rate on secured loan     6.08%    
6.14% Senior Notes due November 2027 [Member]          
Long term debt [Abstract]          
Long term debt     $ 35,000   35,000
Maturity date     Nov. 30, 2027    
Interest rate on secured loan     6.14%    
4.94% Senior Notes due May 2028 [Member]          
Long term debt [Abstract]          
Long term debt     $ 75,000   75,000
Maturity date     May 31, 2028    
Interest rate on secured loan     4.94%    
4.83% Senior Notes due November 2029 [Member]          
Long term debt [Abstract]          
Long term debt     $ 60,000   0
Maturity date Nov. 01, 2029   Nov. 30, 2029    
Interest rate on secured loan 4.83%   4.83% 4.83%  
6.34% Senior Notes due November 2029 [Member]          
Long term debt [Abstract]          
Long term debt     $ 35,000   35,000
Maturity date     Nov. 30, 2029    
Interest rate on secured loan     6.34%    
1.71% Euro-denominated Senior Notes due May 2027 [Member]          
Long term debt [Abstract]          
Long term debt     $ 46,981   41,416
Maturity date     May 31, 2027    
Interest rate on secured loan     1.71%    
4.15% Euro-denominated Senior Notes due May 2028 [Member]          
Long term debt [Abstract]          
Long term debt     $ 46,981   41,416
Maturity date     May 31, 2028    
Interest rate on secured loan     4.15%    
4.62% Euro-denominated Senior Notes due November 2029 [Member]          
Long term debt [Abstract]          
Long term debt     $ 46,981   41,416
Maturity date     Nov. 30, 2029    
Interest rate on secured loan     4.62%    
2.76% British Pound-denominated Notes due November 2025 [Member]          
Long term debt [Abstract]          
Long term debt     $ 0   31,289
Senior notes | £       £ 25  
Maturity date Nov. 01, 2025   Nov. 30, 2025    
Interest rate on secured loan 2.76%   2.76% 2.76%  
Euro Denominated Term Loan [Member]          
Long term debt [Abstract]          
Long term debt     $ 88,090   77,657
Various Other Notes [Member]          
Long term debt [Abstract]          
Long term debt     $ 369   536
Term Loan [Member]          
Long term debt [Abstract]          
Interest rate on secured loan     3.30%    
Margin percentage     1.125%    
Dollar [Member] | Master Note Agreement [Member]          
Long term debt [Abstract]          
Senior notes $ 60,000        
U.S. Credit Facilities [Member]          
Short-term borrowings [Abstract]          
Short-term borrowings     $ 0   18,382
Loans of Foreign Subsidiaries [Member]          
Short-term borrowings [Abstract]          
Short-term borrowings     $ 123   $ 1,267
Senior Notes [Member] | Master Note Agreement [Member]          
Long term debt [Abstract]          
Senior notes $ 825,000        
Notes draw period 3 years        
Senior Notes [Member] | Maximum [Member] | Master Note Agreement [Member]          
Long term debt [Abstract]          
Debt term 12 years        
v3.25.4
Derivative Instruments and Hedging Activity (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Derivative instruments and hedging activity for the period [Abstract]      
Impact of foreign exchange rates on debt instruments recorded in other comprehensive income $ (37,220) $ 17,996 $ (11,378)
Maximum [Member]      
Derivative instruments and hedging activity for the period [Abstract]      
Number of months for contracts to mature 18 months    
Forward Exchange Contracts [Member] | Maximum [Member]      
Derivative instruments and hedging activity for the period [Abstract]      
Number of months for contracts to mature 18 months    
Forward Exchange Contracts [Member] | Cash Flow Hedging [Member]      
Derivative instruments and hedging activity for the period [Abstract]      
Derivative, fair value $ 49,900 70,300  
Amount of gains (losses) reclassified into net earnings 1,700 0 $ 2,200
Foreign Currency Denominated Debt, Net Investment Hedging [Member]      
Derivative instruments and hedging activity for the period [Abstract]      
Carrying value of foreign denominated debt 309,500 295,300  
Impact of foreign exchange rates on debt instruments recorded in other comprehensive income $ 37,200 $ (18,000)  
v3.25.4
Share-Based Compensation (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Apr. 30, 2017
Additional Disclosures [Abstract]          
Total pre-tax share-based compensation expense (income) recognized in the Consolidated Statements of Earnings $ 13,900 $ 10,100 $ 8,900    
Tax related benefits (expense) $ 1,500 $ 1,000 $ 1,100    
Non-vested Stock [Member]          
Stock Unit Activity [Roll Forward]          
Outstanding, beginning of period (in shares) 541 536 519    
Granted (in shares) 178 190 201    
Vested, net (in shares) (112) (115) (179)    
Cancelled (in shares) (27) (70) (5)    
Outstanding, end of period (in shares) 580 541 536 519  
Grant Date Weighted Average Fair Value [Abstract]          
Outstanding, beginning of period (in dollars per share) $ 70.74 $ 72.26 $ 73.19    
Granted (in dollars per share) 90.41 71.79 61.61    
Vested, net (in dollars per share) 81.48 79.47 63.02    
Cancelled (in dollars per share) 81.89 70.87 72.45    
Outstanding, end of period (in dollars per share) $ 74.18 $ 70.74 $ 72.26 $ 73.19  
Aggregate Intrinsic Value [Abstract]          
Outstanding, aggregate intrinsic value $ 54,453 $ 38,517 $ 35,383 $ 37,883  
Additional Disclosures [Abstract]          
Total intrinsic values of shares vested 10,200 $ 10,100 $ 20,300    
Non-vested Stock and Performance Stock Units [Member]          
Additional Disclosures [Abstract]          
Compensation cost not yet recognized $ 28,200        
Compensation cost not yet recognized, period for recognition 2 years 3 months 18 days        
Performance Stock Units [Member]          
Share-based Compensation Arrangement [Abstract]          
Number of years to measure performance metrics   3 years 3 years 3 years  
Amended and Restated 2017 Stock Plan [Member] | Non-vested Stock [Member]          
Share-based Compensation Arrangement [Abstract]          
Number of shares authorized for issuance (in shares)         2,150
Number of shares available for issuance (in shares) 500        
Award vesting period 3 years        
Number of years to measure performance metrics 3 years        
Amended and Restated 2017 Stock Plan [Member] | Non-vested Stock [Member] | Elected Officers [Member]          
Share-based Compensation Arrangement [Abstract]          
Percentage of grants to elected officers that will be performance stock unit awards 60.00%        
Percentage of grants to elected officers, non-vested restricted stock awards 40.00%        
Amended and Restated 2017 Stock Plan [Member] | Non-vested Stock [Member] | Business Unit Leaders [Member]          
Share-based Compensation Arrangement [Abstract]          
Percentage of grants to elected officers that will be performance stock unit awards 60.00%        
Percentage of grants to elected officers, non-vested restricted stock awards 40.00%        
Number of years to measure performance metrics 3 years        
Amended and Restated 2017 Stock Plan [Member] | Non-vested Stock [Member] | Maximum [Member]          
Share-based Compensation Arrangement [Abstract]          
Percentage of stated performance metrics award of grant 102.00% 124.00% 200.00%    
Amended and Restated 2017 Stock Plan [Member] | Non-vested Stock [Member] | Maximum [Member] | Elected Officers [Member]          
Share-based Compensation Arrangement [Abstract]          
Percentage of stated performance metrics award of grant 200.00%        
Amended and Restated 2017 Stock Plan [Member] | Non-vested Stock [Member] | Maximum [Member] | Business Unit Leaders [Member]          
Share-based Compensation Arrangement [Abstract]          
Percentage of stated performance metrics award of grant 150.00%        
Amended and Restated Directors Deferred Compensation Plan [Member] | Maximum [Member]          
Share-based Compensation Arrangement [Abstract]          
Number of shares available for issuance (in shares) 200        
v3.25.4
Retirement Plans, Defined Contribution Plans (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Components of annual benefit cost [Abstract]      
Gain loss corridor percentage 10.00%    
Defined Contribution Plan [Member]      
Defined Contribution Pension and Other Postretirement Benefit Expense [Abstract]      
Percentage of matching contributions under defined contribution plan 4.00%    
Total expense for defined contribution plans $ 9,100 $ 8,000 $ 8,200
Pension Plan [Member]      
Benefit obligation [Roll Forward]      
Benefit obligation at beginning of year 30,887 36,413  
Service cost 1,506 1,736 1,741
Interest cost 1,817 1,839 1,886
Foreign currency exchange rate changes 1,284 (979)  
Benefits paid (1,854) (5,266)  
Actuarial loss (gain) 678 (2,856)  
Benefit obligation at end of year 34,318 30,887 36,413
Change in fair value of plan assets [Roll Forward]      
Plan assets at beginning of year 18,972 21,270  
Company contributions 801 4,192  
Foreign currency exchange rate changes 1,137 (544)  
Benefits paid (1,854) (5,266)  
Actual gain (loss) on plan assets 714 (680)  
Plan assets at end of year 19,770 18,972 21,270
Funded status (14,548) (11,915)  
Accumulated benefit obligation 32,315 29,480  
Amounts recognized in Consolidated Balance Sheets [Abstract]      
Accrued employee and retiree benefits (14,226) (15,882)  
Other accrued expenses (4,991) (693)  
Other assets 4,669 4,660  
Net liability (14,548) (11,915)  
Components of annual benefit cost [Abstract]      
Service cost 1,506 1,736 1,741
Interest cost 1,817 1,839 1,886
Expected return on plan assets (1,093) (1,237) (1,007)
Recognized actuarial gain (305) (359) (656)
Settlement income 0 (610) 0
Defined benefit expense $ 1,925 $ 1,369 $ 1,964
Weighted average liability assumptions [Abstract]      
Discount rate 5.51% 5.83%  
Expected return on plan assets 5.83% 5.71%  
Rate of compensation increase 1.28% 1.17%  
Weighted average cost assumption [Abstract]      
Discount rate 5.83% 5.15% 5.12%
Expected return on plan assets 5.71% 4.91% 4.89%
Rate of compensation increase 1.17% 1.14% 0.90%
Estimated Future Benefit Payments [Abstract]      
2026 $ 6,600    
2027 2,300    
2028 2,300    
2029 2,600    
2030 2,500    
2031 through 2035 26,300    
Estimated future employer contributions for next fiscal year 5,100    
Amounts recognized in Accumulated Other Comprehensive Loss [Abstract]      
Unrecognized net actuarial loss 4,627 $ 2,996  
Prior service cost 151 146  
Total before tax effects 4,778 3,142  
Other Comprehensive Income (Loss), Pension Adjustment, Net of Tax [Abstract]      
Net actuarial (loss) gain arising during the period (818) 665 $ 192
Amortization of actuarial gain, included in defined benefit expense (226) (934) (479)
Pension adjustment, net of tax $ (1,044) $ (269) $ (287)
v3.25.4
Retirement Plans, Pension Plan Assets (Details) - Pension Plan [Member] - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pension Plan Assets by Asset Category [Abstract]      
Total assets at fair value $ 19,770 $ 18,972 $ 21,270
Level 1 [Member]      
Pension Plan Assets by Asset Category [Abstract]      
Total assets at fair value 8,002 7,472  
Level 2 [Member]      
Pension Plan Assets by Asset Category [Abstract]      
Total assets at fair value 11,768 11,500  
Level 3 [Member]      
Pension Plan Assets by Asset Category [Abstract]      
Total assets at fair value 0 0  
Domestic [Member]      
Pension Plan Assets by Asset Category [Abstract]      
Total assets at fair value 5,637 5,496  
Domestic [Member] | Level 1 [Member]      
Pension Plan Assets by Asset Category [Abstract]      
Total assets at fair value 5,637 5,496  
Domestic [Member] | Level 2 [Member]      
Pension Plan Assets by Asset Category [Abstract]      
Total assets at fair value 0 0  
Domestic [Member] | Level 3 [Member]      
Pension Plan Assets by Asset Category [Abstract]      
Total assets at fair value 0 0  
International [Member]      
Pension Plan Assets by Asset Category [Abstract]      
Total assets at fair value 20 28  
International [Member] | Level 1 [Member]      
Pension Plan Assets by Asset Category [Abstract]      
Total assets at fair value 0 0  
International [Member] | Level 2 [Member]      
Pension Plan Assets by Asset Category [Abstract]      
Total assets at fair value 20 28  
International [Member] | Level 3 [Member]      
Pension Plan Assets by Asset Category [Abstract]      
Total assets at fair value 0 0  
International Fixed Income Funds [Member]      
Pension Plan Assets by Asset Category [Abstract]      
Total assets at fair value 13,868 13,116  
International Fixed Income Funds [Member] | Level 1 [Member]      
Pension Plan Assets by Asset Category [Abstract]      
Total assets at fair value 2,137 1,655  
International Fixed Income Funds [Member] | Level 2 [Member]      
Pension Plan Assets by Asset Category [Abstract]      
Total assets at fair value 11,731 11,461  
International Fixed Income Funds [Member] | Level 3 [Member]      
Pension Plan Assets by Asset Category [Abstract]      
Total assets at fair value 0 0  
Other Investments [Member]      
Pension Plan Assets by Asset Category [Abstract]      
Total assets at fair value 245 332  
Other Investments [Member] | Level 1 [Member]      
Pension Plan Assets by Asset Category [Abstract]      
Total assets at fair value 228 321  
Other Investments [Member] | Level 2 [Member]      
Pension Plan Assets by Asset Category [Abstract]      
Total assets at fair value 17 11  
Other Investments [Member] | Level 3 [Member]      
Pension Plan Assets by Asset Category [Abstract]      
Total assets at fair value $ 0 $ 0  
v3.25.4
Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance $ 1,060,986    
Other comprehensive income (loss) before reclassifications 58,466 $ (54,204) $ 31,287
Amounts reclassified from OCL (1,880) (518) (2,716)
Ending balance 1,193,514 1,060,986  
Accumulated Other Comprehensive (Loss) Income [Member]      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance (226,839) (172,117) (200,688)
Ending balance (170,253) (226,839) (172,117)
Cash Flow Hedges [Member]      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance [1] (310) 997 (599)
Other comprehensive income (loss) before reclassifications [1] 1,994 (1,723) 3,833
Amounts reclassified from OCL [1] (1,654) 416 (2,237)
Ending balance [1] 30 (310) 997
Pension Items [Member]      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance [1] (2,348) (2,079) (1,792)
Other comprehensive income (loss) before reclassifications [1] (818) 665 192
Amounts reclassified from OCL [1] (226) (934) (479)
Ending balance [1] (3,392) (2,348) (2,079)
Foreign Currency Items [Member]      
AOCI Attributable to Parent, Net of Tax [Roll Forward]      
Beginning balance (224,181) (171,035) (198,297)
Other comprehensive income (loss) before reclassifications 57,290 (53,146) 27,262
Amounts reclassified from OCL 0 0 0
Ending balance $ (166,891) $ (224,181) $ (171,035)
[1] Cash Flow Hedges and Pension Items are net of tax.
v3.25.4
Income Taxes, Earnings Before Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Earnings before income taxes [Abstract]      
United States $ 66,358 $ 57,318 $ 45,900
Foreign 111,189 105,480 83,951
Earnings before income taxes $ 177,547 $ 162,798 $ 129,851
v3.25.4
Income Taxes, Provision for Income Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current income tax expense [Abstract]      
Federal $ 13,395 $ 20,307 $ 11,153
State 1,936 3,375 2,814
Foreign 30,432 33,048 27,590
Current income tax expense 45,763 56,730 41,557
Deferred expense (benefit) [Abstract]      
Federal 46 (12,743) (4,656)
State (1,338) (581) (813)
Foreign (1,413) (5,274) 369
Deferred income tax benefit (2,705) (18,598) (5,100)
Income taxes $ 43,058 $ 38,132 $ 36,457
v3.25.4
Income Taxes, Payments (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Taxes Paid, Net [Abstract]      
Payments of income taxes $ 48,806 $ 56,744 $ 39,681
Federal [Member]      
Income Taxes Paid, Net [Abstract]      
Payments of income taxes 13,686    
State [Member]      
Income Taxes Paid, Net [Abstract]      
Payments of income taxes 3,211    
Germany [Member]      
Income Taxes Paid, Net [Abstract]      
Payments of income taxes 7,389    
Thailand [Member]      
Income Taxes Paid, Net [Abstract]      
Payments of income taxes 4,904    
Mexico [Member]      
Income Taxes Paid, Net [Abstract]      
Payments of income taxes 3,846    
China [Member]      
Income Taxes Paid, Net [Abstract]      
Payments of income taxes 3,141    
France [Member]      
Income Taxes Paid, Net [Abstract]      
Payments of income taxes 2,408    
Foreign - Other [Member]      
Income Taxes Paid, Net [Abstract]      
Payments of income taxes $ 10,221    
v3.25.4
Income Taxes, Tax Reconciliation and Tax Cuts and Jobs Act (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Effective tax rate reconciliation, Amount [Abstract]      
Taxes at statutory rate $ 37,285    
Tax credits [Abstract]      
Research and Development tax credits (3,674)    
Effect of cross-border taxes [Abstract]      
Global intangible low-taxed income 474    
Foreign derived intangible income (2,175)    
Other effects of cross-border taxes 733    
Nontaxable or nondeductible items [Abstract]      
Nondeductible compensation 2,452    
Other nontaxable or nondeductible items (155)    
Other reconciling items [Abstract]      
Changes in unrecognized benefits 198    
Other reconciling items 319    
Income taxes $ 43,058 $ 38,132 $ 36,457
Effective tax rate reconciliation, Percent [Abstract]      
Taxes at statutory rate 21.00% 21.00% 21.00%
State income taxes, net of federal income tax benefit [Abstract]      
State income taxes, net of federal income tax benefit   1.00% 1.10%
Tax credits [Abstract]      
Research and Development tax credits (2.10%)    
Tax credits   (1.60%) (1.90%)
Foreign tax effects [Abstract]      
Foreign tax effects earnings   4.10% 4.80%
Effect of cross-border taxes [Abstract]      
Global Intangible Low-Taxed Income 0.30% 0.50% 0.60%
Foreign Derived Intangible Income (1.20%) (1.20%) (1.30%)
Other effects of cross-border taxes 0.40%    
Nontaxable or nondeductible items [Abstract]      
Nondeductible compensation 1.40% 0.90% 1.20%
Other nontaxable or nondeductible items (0.10%)    
Other reconciling items [Abstract]      
Changes in unrecognized benefits 0.10%    
Other reconciling items 0.20%    
Resolution of prior years' tax matters   0.60% 0.30%
Valuation allowance adjustments   (1.40%) 2.80%
Other, net   (0.50%) (0.50%)
Effective taxes and tax rate 24.30% 23.40% 28.10%
Valuation Allowance [Abstract]      
Valuation allowance $ (29,053) $ (29,743)  
Wisconsin [Member]      
State income taxes, net of federal income tax benefit [Abstract]      
State income taxes, net of federal income tax benefit [1] $ (1,053)    
State income taxes, net of federal income tax benefit [Abstract]      
State income taxes, net of federal income tax benefit [1] (0.60%)    
Other State Income Taxes [Member]      
State income taxes, net of federal income tax benefit [Abstract]      
State income taxes, net of federal income tax benefit [1] $ 1,140    
State income taxes, net of federal income tax benefit [Abstract]      
State income taxes, net of federal income tax benefit [1] 0.60%    
Germany [Member]      
Foreign tax effects [Abstract]      
Foreign statutory tax rate difference $ (1,622)    
Enacted change in tax rate impact on deferred items (1,726)    
Local taxes $ 4,039    
Foreign tax effects [Abstract]      
Foreign tax effects earnings (0.90%)    
Enacted change in tax rate impact on deferred items (1.00%)    
Local taxes 2.30%    
Other Foreign Jurisdictions [Member]      
Foreign tax effects [Abstract]      
Foreign statutory tax rate difference $ 6,823    
Foreign tax effects [Abstract]      
Foreign tax effects earnings 3.90%    
[1] Wisconsin had a release of a valuation allowance related to its net operating loss. The states that make up the majority of the Other state income taxes category are California and Illinois.
v3.25.4
Income Taxes, Deferred Tax Assets and Liabilities, Operating Loss Carryovers (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets [Abstract]    
Benefit plans $ 10,859 $ 8,123
Liabilities and reserves 20,886 20,322
Operating loss and credit carryovers 58,598 59,834
Capitalized research and development costs 22,745 18,666
Other 20,788 5,355
Gross deferred tax assets 133,876 112,300
Valuation allowance (29,053) (29,743)
Deferred tax assets 104,823 82,557
Deferred tax liabilities [Abstract]    
Property, plant, and equipment (28,265) (26,092)
Goodwill (19,005) (20,685)
Deferred tax liabilities (47,270) (46,777)
Net deferred tax assets 57,553 $ 35,780
Operating Loss Carryforwards [Abstract]    
Operating loss carryovers, tax credit 27,300  
Undistributed earnings 920,000  
Withholding of tax liability $ 45,800  
Minimum [Member]    
Operating Loss Carryforwards [Abstract]    
Minimum corporate tax rate 15.00%  
Foreign [Member]    
Operating Loss Carryforwards [Abstract]    
Operating loss carryovers $ 90,500  
Operating loss carryovers, subject to expiration 16,500  
Operating loss carryovers, not subject to expiration 74,000  
State [Member]    
Operating Loss Carryforwards [Abstract]    
Operating loss carryovers 110,000  
Operating loss carryovers, subject to expiration $ 110,000  
v3.25.4
Income Taxes, Unrecognized Tax Benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Reconciliation of change in liability for unrecognized tax benefits [Roll Forward]    
Balance at beginning of year $ 4,391 $ 4,251
Increases for tax positions taken in the current year 840 865
Increases for tax positions taken in prior years 130 422
Decreases related to settlements with tax authorities (736) 0
Decreases as a result of lapse of the applicable statutes of limitations (952) (765)
Foreign currency exchange rate changes 457 (382)
Balance at the end of year 4,130 4,391
Income tax uncertainties [Abstract]    
Unrecognized tax benefits that would impact the effective tax rate, if recognized 4,100  
Income tax interest and penalties accrued $ 500 $ 500
v3.25.4
Segment and Geographic Information, Reportable Segments (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Segment
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Segment and Geographic Information [Abstract]      
Number of reportable segment | Segment 3    
Revenue [Abstract]      
Revenue $ 1,612,111 $ 1,557,228 $ 1,456,450
Cost of products sold 1,072,811 1,050,135 996,153
Selling and administrative expenses 332,172 315,514 305,274
Segment operating income (loss) 207,128 191,579 155,023
Interest expense 29,581 28,781 25,172
Earnings before income taxes 177,547 162,798 129,851
Assets 2,244,137 2,023,794 2,014,507
Capital expenditures 89,409 59,212 87,868
Depreciation and amortization 61,098 60,329 57,820
Flavors & Extracts [Member]      
Revenue [Abstract]      
Revenue 763,884 765,523 716,049
Cost of products sold 560,639 565,486 530,769
Selling and administrative expenses 102,504 102,943 97,507
Segment operating income (loss) 100,741 97,094 87,773
Assets 907,127 802,177 792,674
Capital expenditures 48,057 29,237 40,489
Depreciation and amortization 30,347 30,437 29,400
Color [Member]      
Revenue [Abstract]      
Revenue 680,369 629,291 594,316
Cost of products sold 406,632 387,364 376,512
Selling and administrative expenses 132,458 122,398 112,434
Segment operating income (loss) 141,279 119,529 105,370
Assets 894,806 819,380 846,559
Capital expenditures 32,552 21,722 37,720
Depreciation and amortization 24,598 23,417 22,294
Asia Pacific [Member]      
Revenue [Abstract]      
Revenue 167,858 162,414 146,085
Cost of products sold 98,009 95,923 85,737
Selling and administrative expenses 33,227 32,033 29,548
Segment operating income (loss) 36,622 34,458 30,800
Assets 128,102 116,817 112,335
Capital expenditures 2,674 2,375 2,923
Depreciation and amortization 2,302 2,472 2,548
Reportable Segments [Member]      
Revenue [Abstract]      
Revenue 1,655,694 1,604,162 1,495,121
Reportable Segments [Member] | Flavors & Extracts [Member]      
Revenue [Abstract]      
Revenue 786,943 793,698 741,072
Reportable Segments [Member] | Color [Member]      
Revenue [Abstract]      
Revenue 700,595 647,939 607,959
Reportable Segments [Member] | Asia Pacific [Member]      
Revenue [Abstract]      
Revenue 168,156 162,525 146,090
Reportable Segments [Member] | Corporate and Other [Member]      
Revenue [Abstract]      
Revenue 0 0 0
Intersegment Revenue [Member]      
Revenue [Abstract]      
Revenue (43,583) (46,934) (38,671)
Intersegment Revenue [Member] | Flavors & Extracts [Member]      
Revenue [Abstract]      
Revenue (23,059) (28,175) (25,023)
Intersegment Revenue [Member] | Color [Member]      
Revenue [Abstract]      
Revenue (20,226) (18,648) (13,643)
Intersegment Revenue [Member] | Asia Pacific [Member]      
Revenue [Abstract]      
Revenue (298) (111) (5)
Intersegment Revenue [Member] | Corporate and Other [Member]      
Revenue [Abstract]      
Revenue 0 0 0
Corporate & Other [Member] | Corporate and Other [Member]      
Revenue [Abstract]      
Revenue 0 0 0
Cost of products sold 7,531 1,362 3,135
Selling and administrative expenses 63,983 58,140 65,785
Segment operating income (loss) (71,514) (59,502) (68,920)
Assets 314,102 285,420 262,939
Capital expenditures 6,126 5,878 6,736
Depreciation and amortization $ 3,851 $ 4,003 $ 3,578
v3.25.4
Segment and Geographic Information, Segment and Geographic Info (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue [Abstract]      
Revenue from external customers $ 1,612,111 $ 1,557,228 $ 1,456,450
Long-lived assets 1,162,689 1,061,908 1,077,891
North America [Member]      
Revenue [Abstract]      
Revenue from external customers 935,283 910,326 858,910
Long-lived assets 756,151 693,814 690,340
Europe [Member]      
Revenue [Abstract]      
Revenue from external customers 314,808 293,591 276,637
Long-lived assets 343,210 310,025 327,549
Asia Pacific [Member]      
Revenue [Abstract]      
Revenue from external customers 247,535 238,721 221,666
Long-lived assets 34,980 32,972 34,680
Other [Member]      
Revenue [Abstract]      
Revenue from external customers 114,485 114,590 99,237
Long-lived assets 28,348 25,097 25,322
United States [Member]      
Revenue [Abstract]      
Revenue from external customers 781,900 761,200 707,100
Long-lived assets 660,700 612,700 603,200
Flavors & Extracts [Member]      
Revenue [Abstract]      
Revenue from external customers 763,884 765,523 716,049
Long-lived assets 404,068 375,284 380,802
Color [Member]      
Revenue [Abstract]      
Revenue from external customers 680,369 629,291 594,316
Long-lived assets 581,543 532,367 551,597
Asia Pacific [Member]      
Revenue [Abstract]      
Revenue from external customers 167,858 162,414 146,085
Long-lived assets 31,056 29,317 30,473
Reportable Geographical Components [Member] | Flavors & Extracts [Member] | North America [Member]      
Revenue [Abstract]      
Revenue from external customers 602,252 597,046 553,790
Long-lived assets 323,284 296,479 297,615
Reportable Geographical Components [Member] | Flavors & Extracts [Member] | Europe [Member]      
Revenue [Abstract]      
Revenue from external customers 118,566 124,257 113,757
Long-lived assets 80,200 78,041 82,938
Reportable Geographical Components [Member] | Flavors & Extracts [Member] | Asia Pacific [Member]      
Revenue [Abstract]      
Revenue from external customers 17,806 17,878 21,382
Long-lived assets 0 0 8
Reportable Geographical Components [Member] | Flavors & Extracts [Member] | Other [Member]      
Revenue [Abstract]      
Revenue from external customers 25,260 26,342 27,120
Long-lived assets 584 764 241
Reportable Geographical Components [Member] | Color [Member] | North America [Member]      
Revenue [Abstract]      
Revenue from external customers 332,975 313,180 304,995
Long-lived assets 286,871 272,418 277,730
Reportable Geographical Components [Member] | Color [Member] | Europe [Member]      
Revenue [Abstract]      
Revenue from external customers 196,189 169,185 162,644
Long-lived assets 262,984 231,961 244,587
Reportable Geographical Components [Member] | Color [Member] | Asia Pacific [Member]      
Revenue [Abstract]      
Revenue from external customers 66,343 64,600 58,003
Long-lived assets 3,924 3,655 4,199
Reportable Geographical Components [Member] | Color [Member] | Other [Member]      
Revenue [Abstract]      
Revenue from external customers 84,862 82,326 68,674
Long-lived assets 27,764 24,333 25,081
Reportable Geographical Components [Member] | Asia Pacific [Member] | North America [Member]      
Revenue [Abstract]      
Revenue from external customers 56 100 125
Long-lived assets 0 0 0
Reportable Geographical Components [Member] | Asia Pacific [Member] | Europe [Member]      
Revenue [Abstract]      
Revenue from external customers 53 149 236
Long-lived assets 0 0 0
Reportable Geographical Components [Member] | Asia Pacific [Member] | Asia Pacific [Member]      
Revenue [Abstract]      
Revenue from external customers 163,386 156,243 142,281
Long-lived assets 31,056 29,317 30,473
Reportable Geographical Components [Member] | Asia Pacific [Member] | Other [Member]      
Revenue [Abstract]      
Revenue from external customers 4,363 5,922 3,443
Long-lived assets 0 0 0
Corporate & Other [Member] | Corporate and Other [Member]      
Revenue [Abstract]      
Revenue from external customers 0 0 0
Long-lived assets 146,022 124,940 115,019
Corporate & Other [Member] | Corporate and Other [Member] | North America [Member]      
Revenue [Abstract]      
Revenue from external customers 0 0 0
Long-lived assets 145,996 124,917 114,995
Corporate & Other [Member] | Corporate and Other [Member] | Europe [Member]      
Revenue [Abstract]      
Revenue from external customers 0 0 0
Long-lived assets 26 23 24
Corporate & Other [Member] | Corporate and Other [Member] | Asia Pacific [Member]      
Revenue [Abstract]      
Revenue from external customers 0 0 0
Long-lived assets 0 0 0
Corporate & Other [Member] | Corporate and Other [Member] | Other [Member]      
Revenue [Abstract]      
Revenue from external customers 0 0 0
Long-lived assets $ 0 $ 0 $ 0
v3.25.4
Segment and Geographic Information, Revenue from External Customers by Products Line (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue [Abstract]      
Revenue $ 1,612,111 $ 1,557,228 $ 1,456,450
Flavors, Extracts & Flavor Ingredients [Member]      
Revenue [Abstract]      
Revenue 528,770 508,052 496,036
Agricultural Ingredients [Member]      
Revenue [Abstract]      
Revenue 258,173 285,646 245,036
Food & Pharmaceutical Colors [Member]      
Revenue [Abstract]      
Revenue 529,471 481,141 452,204
Personal Care [Member]      
Revenue [Abstract]      
Revenue 171,124 166,798 155,755
Flavors & Extracts [Member]      
Revenue [Abstract]      
Revenue 763,884 765,523 716,049
Flavors & Extracts [Member] | Flavors, Extracts & Flavor Ingredients [Member]      
Revenue [Abstract]      
Revenue 528,770 508,052 496,036
Flavors & Extracts [Member] | Agricultural Ingredients [Member]      
Revenue [Abstract]      
Revenue 258,173 285,646 245,036
Flavors & Extracts [Member] | Food & Pharmaceutical Colors [Member]      
Revenue [Abstract]      
Revenue 0 0 0
Flavors & Extracts [Member] | Personal Care [Member]      
Revenue [Abstract]      
Revenue 0 0 0
Color [Member]      
Revenue [Abstract]      
Revenue 680,369 629,291 594,316
Color [Member] | Flavors, Extracts & Flavor Ingredients [Member]      
Revenue [Abstract]      
Revenue 0 0 0
Color [Member] | Agricultural Ingredients [Member]      
Revenue [Abstract]      
Revenue 0 0 0
Color [Member] | Food & Pharmaceutical Colors [Member]      
Revenue [Abstract]      
Revenue 529,471 481,141 452,204
Color [Member] | Personal Care [Member]      
Revenue [Abstract]      
Revenue 171,124 166,798 155,755
Asia Pacific [Member]      
Revenue [Abstract]      
Revenue 167,858 162,414 146,085
Asia Pacific [Member] | Flavors, Extracts & Flavor Ingredients [Member]      
Revenue [Abstract]      
Revenue 0 0 0
Asia Pacific [Member] | Agricultural Ingredients [Member]      
Revenue [Abstract]      
Revenue 0 0 0
Asia Pacific [Member] | Food & Pharmaceutical Colors [Member]      
Revenue [Abstract]      
Revenue 0 0 0
Asia Pacific [Member] | Personal Care [Member]      
Revenue [Abstract]      
Revenue 0 0 0
Reportable Segments [Member]      
Revenue [Abstract]      
Revenue 1,655,694 1,604,162 1,495,121
Reportable Segments [Member] | Flavors & Extracts [Member]      
Revenue [Abstract]      
Revenue 786,943 793,698 741,072
Reportable Segments [Member] | Color [Member]      
Revenue [Abstract]      
Revenue 700,595 647,939 607,959
Reportable Segments [Member] | Asia Pacific [Member]      
Revenue [Abstract]      
Revenue 168,156 162,525 146,090
Intersegment Revenue [Member]      
Revenue [Abstract]      
Revenue (43,583) (46,934) (38,671)
Intersegment Revenue [Member] | Flavors & Extracts [Member]      
Revenue [Abstract]      
Revenue (23,059) (28,175) (25,023)
Intersegment Revenue [Member] | Color [Member]      
Revenue [Abstract]      
Revenue (20,226) (18,648) (13,643)
Intersegment Revenue [Member] | Asia Pacific [Member]      
Revenue [Abstract]      
Revenue $ (298) $ (111) $ (5)
v3.25.4
Fair Value Measurements (Details) - Level 2 [Member] - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Investments, Fair Value Disclosure [Abstract]    
Forward exchange contract, assets $ 0.3  
Forward exchange contract, liability   $ 0.8
Carrying Value [Member]    
Investments, Fair Value Disclosure [Abstract]    
Long term debt 709.5 613.7
Fair Value [Member]    
Investments, Fair Value Disclosure [Abstract]    
Long term debt $ 720.9 $ 622.0
v3.25.4
Portfolio Optimization Plan (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Positions
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Portfolio Optimization Plan [Abstract]      
Accrued liabilities related to portfolio optimization plan   $ 2,500  
Portfolio optimization plan costs $ 50,000    
Reduction of annual operating costs $ 8,000    
Number of reduced positions | Positions 100    
Portfolio Optimization Plan Expenses [Abstract]      
Portfolio optimization plan expenses $ 15,806 6,631 $ 27,841
Selling and Administrative Expenses [Member]      
Portfolio Optimization Plan Expenses [Abstract]      
Non-cash impairment charges 953 1,129 20,954
Employee separation 766 2,059 3,216
Other costs 6,556 [1] 2,081 [1] 536 [2]
Cost of Products Sold [Member]      
Portfolio Optimization Plan Expenses [Abstract]      
Non-cash impairment charges 4,344 740 3,135
Other production costs 3,187 622  
Flavors & Extracts [Member]      
Portfolio Optimization Plan Expenses [Abstract]      
Portfolio optimization plan expenses 15,228 4,819 16,498
Flavors & Extracts [Member] | Selling and Administrative Expenses [Member]      
Portfolio Optimization Plan Expenses [Abstract]      
Non-cash impairment charges 953 0 11,599
Employee separation 758 1,450 2,820
Other costs 5,986 [1] 1,813 [1] 39 [2]
Flavors & Extracts [Member] | Cost of Products Sold [Member]      
Portfolio Optimization Plan Expenses [Abstract]      
Non-cash impairment charges 4,344 934 2,040
Other production costs 3,187 622  
Color [Member]      
Portfolio Optimization Plan Expenses [Abstract]      
Portfolio optimization plan expenses 411 1,900 11,235
Color [Member] | Selling and Administrative Expenses [Member]      
Portfolio Optimization Plan Expenses [Abstract]      
Non-cash impairment charges 0 1,129 9,355
Employee separation 8 583 288
Other costs 403 [1] 382 [1] 497 [2]
Color [Member] | Cost of Products Sold [Member]      
Portfolio Optimization Plan Expenses [Abstract]      
Non-cash impairment charges 0 (194) 1,095
Other production costs 0 0  
Corporate & Other [Member]      
Portfolio Optimization Plan Expenses [Abstract]      
Portfolio optimization plan expenses 167 (88) 108
Corporate & Other [Member] | Selling and Administrative Expenses [Member]      
Portfolio Optimization Plan Expenses [Abstract]      
Non-cash impairment charges 0 0 0
Employee separation 0 26 108
Other costs 167 [1] (114) [1] 0 [2]
Corporate & Other [Member] | Cost of Products Sold [Member]      
Portfolio Optimization Plan Expenses [Abstract]      
Non-cash impairment charges 0 0 $ 0
Other production costs $ 0 $ 0  
[1] Other costs include professional services, decommissioning costs, and other related costs.
[2] Other costs include legal settlements, professional services, and other related costs.
v3.25.4
Subsequent Event (Details) - Subsequent Event [Member] - Dividends Declared 2025-Q4 [Member]
Jan. 16, 2026
$ / shares
Subsequent Event [Abstract]  
Dividend declared date Jan. 16, 2026
Dividend payable (in dollars per share) $ 0.41
Dividend payable date Mar. 02, 2026
v3.25.4
Schedule II Valuation and Qualifying Accounts (Details) - Allowance for Trade Receivables [Member] - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Movement in Valuation Allowances and Reserves [Roll Forward]      
Balance at Beginning of Period $ 5,023 $ 4,373 $ 4,436
Additions Charged to Costs and Expenses 288 1,527 1,020
Additions Recorded During Acquisitions 0 0 0
Deductions 183 877 1,083
Balance at End of Period $ 5,128 $ 5,023 $ 4,373