SEGMENT INFORMATION The Company is organized into three reportable operating segments, Taste, Scent and Frutarom; these segments align with the internal structure used to manage these businesses. Taste is comprised of Flavor Compounds which are sold to the food and beverage industries for use in consumer products such as prepared foods, beverages, dairy, food and sweet products. Scent is comprised of (1) Fragrance Compounds, which are ultimately used by our customers in two broad categories: Fine Fragrances, including perfumes and colognes, and Consumer Fragrances, including fragrance compounds for personal care (e.g., soaps), household products (e.g., detergents and cleaning agents) and beauty care, including toiletries; (2) Fragrance Ingredients, consisting of synthetic and natural ingredients that can be combined with other materials to create unique fine fragrance and consumer compounds; and (3) Cosmetic Active Ingredients, consisting of active and functional ingredients, botanicals and delivery systems to support our customers cosmetic and personal care product lines. Major fragrance customers include the cosmetics industry, including perfume and toiletries manufacturers, and the household products industry, including manufacturers of soaps, detergents, fabric care, household cleaners and air fresheners. Frutarom creates and manufactures a naturals-focused suite of flavor compounds, functional foods and specialty fine ingredients, largely targeting small, local and regional customers. Frutaroms products are focused on the following principal areas: Taste, Savory Solutions, Inclusions, Fine Ingredients, and Natural Product Solutions. The Company's Chief Operating Decision Maker evaluates the performance of these reportable operating segments based on segment profit which is defined as operating profit before restructuring, global expenses (as discussed below) and certain non-recurring items, Interest expense, Other income (expense), net and Taxes on income. The Global expenses caption represents corporate and headquarter-related expenses which include legal, finance, human resources, certain incentive compensation expenses and other R&amp;D and administrative expenses that are not allocated to individual reportable operating segments. Reportable segment information is as follows: December 31, (DOLLARS IN THOUSANDS) 2019 2018 2017 Net sales Taste $ 1,731,919 $ 1,737,349 $ 1,632,166 Scent 1,922,717 1,880,630 1,766,553 Frutarom 1,485,448 359,560 N/A Consolidated $ 5,140,084 $ 3,977,539 $ 3,398,719 December 31, (DOLLARS IN THOUSANDS) 2019 2018 Segment assets Taste $ 2,222,154 $ 2,024,573 Scent 2,549,113 2,340,131 Frutarom 8,306,003 7,961,538 Global assets 210,141 563,153 Consolidated $ 13,287,411 $ 12,889,395 December 31, (DOLLARS IN THOUSANDS) 2019 2018 2017 Segment profit: Taste $ 382,590 $ 395,190 $ 360,483 Scent 333,522 329,548 318,954 Frutarom 126,804 27,358 N/A Global expenses (49,836 ) (74,730 ) (60,810 ) Operational Improvement Initiatives (a) (2,267 ) (2,169 ) (1,802 ) Acquisition Related Costs (b)  1,289 (20,389 ) Integration Related Costs (c) (55,160 ) (7,188 ) (4,179 ) Legal Charges/Credits, net (d)   (1,000 ) Tax Assessment (e)   (5,331 ) Restructuring and Other Charges, net (f) (29,765 ) (4,086 ) (19,711 ) (Losses) gains on Sale of Assets (2,367 ) 1,177 184 FDA Mandated Product Recall (g) (250 ) 7,125 (11,000 ) UK Pension Settlement Charges (h)   (2,769 ) Frutarom Acquisition Related Costs (i) (5,940 ) (89,632 )  Compliance Review &amp; Legal Defense Costs (j) (11,314 )   N&amp;B Transaction Related Costs (k) (20,747 )   Operating Profit 665,270 583,882 552,630 Interest expense (138,221 ) (132,558 ) (65,363 ) Loss on extinguishment of debt  (38,810 )  Other income, net 30,403 35,243 49,778 Income before taxes $ 557,452 $ 447,757 $ 537,045 Profit margin Taste 22.1 % 22.7 % 22.1 % Scent 17.3 % 17.5 % 18.1 % Frutarom 8.5 % 7.6 % N/A Consolidated 12.9 % 14.7 % 16.3 % (a) For 2019, represents accelerated depreciation related to plant relocations in India and China. For 2018, represents accelerated depreciation in India and Taiwan asset write off. For 2017, represents accelerated depreciation and idle labor costs in Hangzhou, China. (b) For 2018, represents adjustments to the contingent consideration payable for PowderPure, and transaction costs related to Fragrance Resources and PowderPure within Selling and administrative expenses. For 2017, represents the amortization of inventory "step-up" included in Cost of goods sold and transaction costs related to the acquisition of Fragrance Resources and PowderPure within Selling and administrative expenses. (c) For 2019 and 2018, represents costs related to the integration of the Frutarom acquisition, principally advisory services. For 2017, represents costs related to the integration of the David Michael and Fragrance Resources acquisitions. (d) Represents an additional charge related to litigation settlement. (e) Represents the reserve for payment of a tax assessment related to commercial rent for prior periods. (f) For 2019, represents costs primarily related to the Frutarom Integration Initiative, the 2019 Severance Program, including severance related to outsourcing the IT function. For 2018, represents severance costs related to the 2017 Productivity Program and costs associated with the termination of agent relationships in a subsidiary. For 2017, represents severance costs related to the 2017 Productivity Program. (g) For 2019, represents additional claims that management will pay to co-packers. For 2018, principally represents recoveries from the supplier for the third and fourth quarter, partially offset by final payments to the customer made for the effected product in the first quarter. For 2017, represents management's best estimate of losses related to the previously disclosed FDA mandated recall. (h) Represents pension settlement charges incurred in one of the Company's UK pension plans. (i) Represents transaction-related costs and expenses related to the acquisition of Frutarom. For 2019, amount primarily includes amortization for inventory "step-up" costs and transaction costs. For 2018, amount primarily includes $23.5 million of amortization for inventory "step-up" costs and $66.0 million of transaction costs included in Selling and administrative expenses. (j) Costs related to reviewing the nature of inappropriate payments and review of compliance in certain other countries. In addition, includes legal costs for related shareholder lawsuits. (k) Represents costs and expenses related to the pending transaction with Nutrition &amp; Biosciences Inc. The Company has not disclosed revenues at a lower level than provided herein, such as revenues from external customers by product, as it is impracticable for it to do so. The Company had no customers that accounted for greater than 10% of consolidated net sales in 2019 and 2018 . The Company had one customer that accounted for greater than 10% of consolidated net sales in 2017 . The Company's largest customer had net sales of $336.1 million , $356.8 million and $358.5 million in 2019 , 2018 and 2017 , respectively. The majority of these sales were in the Scent reportable operating segment. Long-lived assets, net, by country, consisted as follows: December 31, (DOLLARS IN THOUSANDS) 2019 2018 United States $ 382,659 $ 315,320 Netherlands 91,313 103,997 Singapore 68,751 73,544 China 188,194 178,502 Other 656,003 569,789 Consolidated $ 1,386,920 $ 1,241,152 Segment capital expenditures and depreciation and amortization consisted as follows: Capital Expenditures Depreciation and Amortization (DOLLARS IN THOUSANDS) 2019 2018 2017 2019 2018 2017 Taste $ 80,267 $ 70,028 $ 68,937 $ 56,674 $ 54,534 $ 53,534 Scent 92,077 82,206 53,089 65,386 64,018 59,951 Frutarom 55,356 12,878 N/A 194,956 47,738 N/A Global assets 8,278 4,982 6,947 6,314 7,502 4,482 Consolidated $ 235,978 $ 170,094 $ 128,973 $ 323,330 $ 173,792 $ 117,967 Net sales are attributed to individual regions based upon the destination of product delivery and are as follows: Net Sales by Geographic Area (DOLLARS IN THOUSANDS) 2019 2018 2017 Europe, Africa and Middle East $ 2,081,758 $ 1,396,316 $ 1,065,596 Greater Asia 1,162,992 991,015 903,546 North America 1,170,497 1,010,126 901,821 Latin America 724,837 580,082 527,756 Consolidated $ 5,140,084 $ 3,977,539 $ 3,398,719 Net Sales by Geographic Area (DOLLARS IN THOUSANDS) 2019 2018 2017 Net sales related to the U.S. $ 1,052,654 $ 952,550 $ 864,050 Net sales attributed to all foreign countries 4,087,430 3,024,989 2,534,669 No non-U.S. country had net sales in any period presented greater than 6% of total consolidated net sales. Pending change in Reportable Operating Segments As part of the Company's Frutarom Integration Initiative, the reportable operating segments have been realigned such that beginning in fiscal year 2020 there will be two reportable operating segments: Scent and Taste. The financial results presented in this Form 10-K reflect the Scent, Taste and Frutarom business segments prior to the realignment.