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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Sensient Technologies Corp | NYSE:SXT | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.835 | 1.13% | 74.485 | 74.76 | 73.70 | 73.86 | 67,949 | 20:10:42 |
☒ |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
For the quarterly period ended:
|
March 31, 2020
|
☐ |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
For the transition period from
|
to
|
Wisconsin
|
39-0561070
|
|
(State or other jurisdiction of incorporation or organization)
|
(I.R.S. Employer Identification Number)
|
Registrant's telephone number, including area code:
|
(414) 271-6755
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
Common stock, par value $0.10 per share
|
SXT
|
New York Stock Exchange LLC
|
Large Accelerated Filer ☒
|
Accelerated Filer ☐
|
Non-Accelerated Filer ☐
|
Smaller Reporting Company ☐
|
Emerging Growth Company ☐
|
Class
|
Outstanding at April 30, 2020
|
|
Common Stock, par value $0.10 per share
|
42,357,694
|
|
Page No.
|
||
PART I. FINANCIAL INFORMATION:
|
|||
Item 1.
|
Financial Statements:
|
||
1
|
|||
2
|
|||
3
|
|||
4
|
|||
5
|
|||
6
|
|||
Item 2.
|
15
|
||
Item 3.
|
21
|
||
Item 4.
|
21
|
||
PART II. OTHER INFORMATION:
|
|||
Item 1.
|
21
|
||
Item 1A.
|
22
|
||
Item 2.
|
23
|
||
Item 6.
|
23
|
||
24
|
|||
25
|
PART I. |
FINANCIAL INFORMATION
|
ITEM 1. |
FINANCIAL STATEMENTS
|
|
Three Months
Ended March 31,
|
|||||||
2020
|
2019
|
|||||||
Revenue
|
$
|
350,677
|
$
|
347,513
|
||||
Cost of products sold
|
238,784
|
232,288
|
||||||
Selling and administrative expenses
|
77,332
|
65,805
|
||||||
Operating income
|
34,561
|
49,420
|
||||||
Interest expense
|
4,307
|
5,402
|
||||||
Earnings before income taxes
|
30,254
|
44,018
|
||||||
Income taxes
|
9,481
|
11,211
|
||||||
Net earnings
|
$
|
20,773
|
$
|
32,807
|
||||
Weighted average number of common shares outstanding:
|
||||||||
Basic
|
42,284
|
42,239
|
||||||
Diluted
|
42,307
|
42,275
|
||||||
Earnings per common share:
|
||||||||
Basic
|
$
|
0.49
|
$
|
0.78
|
||||
Diluted
|
$
|
0.49
|
$
|
0.78
|
||||
Dividends declared per common share
|
$
|
0.39
|
$
|
0.36
|
|
Three Months
Ended March 31,
|
|||||||
2020
|
2019
|
|||||||
Comprehensive (loss) income
|
$
|
(23,580
|
)
|
$
|
32,091
|
ASSETS
|
March 31, 2020
(Unaudited)
|
December 31, 2019
|
||||||
CURRENT ASSETS:
|
||||||||
Cash and cash equivalents
|
$
|
23,085
|
$
|
21,153
|
||||
Trade accounts receivable, net
|
240,123
|
213,201
|
||||||
Inventories
|
384,157
|
422,517
|
||||||
Prepaid expenses and other current assets
|
38,768
|
40,049
|
||||||
Assets held for sale
|
78,612
|
91,293
|
||||||
TOTAL CURRENT ASSETS
|
764,745
|
788,213
|
||||||
OTHER ASSETS
|
82,367
|
80,939
|
||||||
DEFERRED TAX ASSETS
|
10,741
|
14,976
|
||||||
INTANGIBLE ASSETS, NET
|
11,463
|
11,802
|
||||||
GOODWILL
|
400,515
|
407,042
|
||||||
PROPERTY, PLANT, AND EQUIPMENT:
|
||||||||
Land
|
30,078
|
31,431
|
||||||
Buildings
|
293,331
|
298,733
|
||||||
Machinery and equipment
|
645,866
|
652,063
|
||||||
Construction in progress
|
25,328
|
24,613
|
||||||
994,603
|
1,006,840
|
|||||||
Less accumulated depreciation
|
(571,608
|
)
|
(569,661
|
)
|
||||
422,995
|
437,179
|
|||||||
TOTAL ASSETS
|
$
|
1,692,826
|
$
|
1,740,151
|
||||
LIABILITIES AND SHAREHOLDERS' EQUITY
|
||||||||
CURRENT LIABILITIES:
|
||||||||
Trade accounts payable
|
$
|
91,437
|
$
|
94,653
|
||||
Accrued salaries, wages, and withholdings from employees
|
19,724
|
18,655
|
||||||
Other accrued expenses
|
41,140
|
41,429
|
||||||
Income taxes
|
8,410
|
6,841
|
||||||
Short-term borrowings
|
20,105
|
20,612
|
||||||
Liabilities held for sale
|
19,821
|
19,185
|
||||||
TOTAL CURRENT LIABILITIES
|
200,637
|
201,375
|
||||||
DEFERRED TAX LIABILITIES
|
14,511
|
15,053
|
||||||
OTHER LIABILITIES
|
20,224
|
17,813
|
||||||
ACCRUED EMPLOYEE AND RETIREE BENEFITS
|
25,457
|
25,822
|
||||||
LONG-TERM DEBT
|
589,339
|
598,499
|
||||||
SHAREHOLDERS’ EQUITY:
|
||||||||
Common stock
|
5,396
|
5,396
|
||||||
Additional paid-in capital
|
99,080
|
98,425
|
||||||
Earnings reinvested in the business
|
1,539,520
|
1,536,100
|
||||||
Treasury stock, at cost
|
(593,977
|
)
|
(595,324
|
)
|
||||
Accumulated other comprehensive loss
|
(207,361
|
)
|
(163,008
|
)
|
||||
TOTAL SHAREHOLDERS’ EQUITY
|
842,658
|
881,589
|
||||||
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
|
$
|
1,692,826
|
$
|
1,740,151
|
|
Three Months Ended
March 31,
|
|||||||
2020
|
2019
|
|||||||
Cash flows from operating activities:
|
||||||||
Net earnings
|
$
|
20,773
|
$
|
32,807
|
||||
Adjustments to arrive at net cash provided by operating activities:
|
||||||||
Depreciation and amortization
|
12,404
|
13,672
|
||||||
Share-based compensation
|
1,177
|
687
|
||||||
Net loss (gain) on assets
|
14
|
(41
|
)
|
|||||
Loss on divestitures
|
10,558
|
-
|
||||||
Deferred income taxes
|
4,077
|
2,674
|
||||||
Changes in operating assets and liabilities:
|
||||||||
Trade accounts receivable
|
(41,684
|
)
|
(19,230
|
)
|
||||
Inventories
|
29,058
|
22,112
|
||||||
Prepaid expenses and other assets
|
(6,048
|
)
|
(7,573
|
)
|
||||
Accounts payable and other accrued expenses
|
2,773
|
(21,857
|
)
|
|||||
Accrued salaries, wages and withholdings from employees
|
1,611
|
(3,022
|
)
|
|||||
Income taxes
|
1,662
|
2,213
|
||||||
Other liabilities
|
553
|
982
|
||||||
Net cash provided by operating activities
|
36,928
|
23,424
|
||||||
Cash flows from investing activities:
|
||||||||
Acquisition of property, plant, and equipment
|
(9,411
|
)
|
(8,300
|
)
|
||||
Proceeds from sale of assets
|
6
|
45
|
||||||
Other investing activities
|
4,505
|
(301
|
)
|
|||||
Net cash used in investing activities
|
(4,900
|
)
|
(8,556
|
)
|
||||
Cash flows from financing activities:
|
||||||||
Proceeds from additional borrowings
|
9,669
|
16,689
|
||||||
Debt payments
|
(11,104
|
)
|
(12,577
|
)
|
||||
Dividends paid
|
(16,500
|
)
|
(15,218
|
)
|
||||
Other financing activities
|
(249
|
)
|
(803
|
)
|
||||
Net cash used in financing activities
|
(18,184
|
)
|
(11,909
|
)
|
||||
Effect of exchange rate changes on cash and cash equivalents
|
(11,912
|
)
|
(964
|
)
|
||||
Net increase in cash and cash equivalents
|
1,932
|
1,995
|
||||||
Cash and cash equivalents at beginning of period
|
21,153
|
31,901
|
||||||
Cash and cash equivalents at end of period
|
$
|
23,085
|
$
|
33,896
|
|
Additional
|
Earnings
Reinvested
|
Treasury Stock
|
Accumulated
Other
Comprehensive
|
||||||||||||||||||||||||
Three Months Ended March 31, 2019
|
Common
Stock
|
Paid-In
Capital
|
in the
Business
|
Shares
|
Amount
|
Income
(Loss)
|
Total
Equity
|
|||||||||||||||||||||
Balances at December 31, 2018
|
$
|
5,396
|
$
|
101,663
|
$
|
1,516,243
|
11,731,223
|
$
|
(597,800
|
)
|
$
|
(165,555
|
)
|
$
|
859,947
|
|||||||||||||
Net earnings
|
-
|
-
|
32,807
|
-
|
-
|
-
|
32,807
|
|||||||||||||||||||||
Other comprehensive loss
|
-
|
-
|
-
|
-
|
-
|
(716
|
)
|
(716
|
)
|
|||||||||||||||||||
Cash dividends paid - $0.36 per share
|
-
|
-
|
(15,218
|
)
|
-
|
-
|
-
|
(15,218
|
)
|
|||||||||||||||||||
Share-based compensation
|
-
|
687
|
-
|
-
|
-
|
-
|
687
|
|||||||||||||||||||||
Non-vested stock issued upon vesting
|
-
|
(1,784
|
)
|
-
|
(35,016
|
)
|
1,784
|
-
|
-
|
|||||||||||||||||||
Benefit plans
|
-
|
72
|
-
|
(18,597
|
)
|
948
|
-
|
1,020
|
||||||||||||||||||||
Other
|
-
|
(153
|
)
|
-
|
12,769
|
(650
|
)
|
-
|
(803
|
)
|
||||||||||||||||||
Balances at March 31, 2019
|
$
|
5,396
|
$
|
100,485
|
$
|
1,533,832
|
11,690,379
|
$
|
(595,718
|
)
|
$
|
(166,271
|
)
|
$
|
877,724
|
|
Additional
|
Earnings
Reinvested
|
Treasury Stock
|
Accumulated
Other
Comprehensive
|
||||||||||||||||||||||||
Three Months Ended March 31, 2020
|
Common
Stock
|
Paid-In
Capital
|
in the
Business
|
Shares
|
Amount
|
Income
(Loss)
|
Total
Equity
|
|||||||||||||||||||||
Balances at December 31, 2019
|
$
|
5,396
|
$
|
98,425
|
$
|
1,536,100
|
11,682,636
|
$
|
(595,324
|
)
|
$
|
(163,008
|
)
|
$
|
881,589
|
|||||||||||||
Net earnings
|
-
|
-
|
20,773
|
-
|
-
|
-
|
20,773
|
|||||||||||||||||||||
Other comprehensive loss
|
-
|
-
|
-
|
-
|
-
|
(44,353
|
)
|
(44,353
|
)
|
|||||||||||||||||||
Cash dividends paid - $0.39 per share
|
-
|
-
|
(16,500
|
)
|
-
|
-
|
-
|
(16,500
|
)
|
|||||||||||||||||||
Share-based compensation
|
-
|
1,177
|
-
|
-
|
-
|
-
|
1,177
|
|||||||||||||||||||||
Non-vested stock issued upon vesting
|
-
|
(724
|
)
|
-
|
(14,200
|
)
|
724
|
-
|
-
|
|||||||||||||||||||
Benefit plans
|
-
|
241
|
-
|
(16,344
|
)
|
833
|
-
|
1,074
|
||||||||||||||||||||
Adoption of ASU 2016-13
|
-
|
-
|
(853
|
)
|
-
|
-
|
-
|
(853
|
)
|
|||||||||||||||||||
Other
|
-
|
(39
|
)
|
-
|
4,114
|
(210
|
)
|
-
|
(249
|
)
|
||||||||||||||||||
Balances at March 31, 2020
|
$
|
5,396
|
$
|
99,080
|
$
|
1,539,520
|
11,656,206
|
$
|
(593,977
|
)
|
$
|
(207,361
|
)
|
$
|
842,658
|
1. |
Accounting Policies
|
2. |
Divestitures
|
(in thousands)
|
March 31,
2020
|
December 31,
2019
|
||||||
Assets held for sale:
|
||||||||
Trade accounts receivable, net
|
$
|
34,610
|
$
|
31,653
|
||||
Inventories
|
30,104
|
34,612
|
||||||
Prepaid expenses and other current assets
|
6,628
|
5,528
|
||||||
Property, Plant, and Equipment, net
|
4,643
|
14,496
|
||||||
Intangible assets, net
|
2,627
|
5,004
|
||||||
Assets held for sale
|
$
|
78,612
|
$
|
91,293
|
||||
Liabilities held for sale:
|
||||||||
Trade accounts payable
|
$
|
13,532
|
$
|
12,318
|
||||
Accrued salaries, wages and withholdings from employees
|
1,222
|
1,677
|
||||||
Other accrued expenses
|
5,067
|
5,190
|
||||||
Liabilities held for sale
|
$
|
19,821
|
$
|
19,185
|
3. |
Trade Accounts Receivable
|
(In thousands)
|
Allowance for
Doubtful Accounts
|
|||
Balance at December 31, 2019
|
$
|
6,913
|
||
Adoption of ASU 2016-13
|
853
|
|||
Provision for expected credit losses
|
240
|
|||
Accounts written off
|
(336
|
)
|
||
Translation and other activity
|
(643
|
)
|
||
Balance at March 31, 2020
|
$
|
7,027
|
4. |
Inventories
|
5. |
Fair Value
|
6. |
Segment Information
|
(In thousands)
|
Flavors &
Fragrances
|
Color
|
Asia
Pacific
|
Corporate
& Other
|
Consolidated
|
|||||||||||||||
Three months ended March 31, 2020:
|
||||||||||||||||||||
Revenue from external customers
|
$
|
181,187
|
$
|
139,193
|
$
|
30,297
|
$
|
-
|
$
|
350,677
|
||||||||||
Intersegment revenue
|
5,311
|
4,302
|
152
|
-
|
9,765
|
|||||||||||||||
Total revenue
|
$
|
186,498
|
$
|
143,495
|
$
|
30,449
|
$
|
-
|
$
|
360,442
|
||||||||||
Operating income (loss)
|
$
|
20,871
|
$
|
29,664
|
$
|
5,059
|
$
|
(21,033
|
)
|
$
|
34,561
|
|||||||||
Interest expense
|
-
|
-
|
-
|
4,307
|
4,307
|
|||||||||||||||
Earnings (loss) before income taxes
|
$
|
20,871
|
$
|
29,664
|
$
|
5,059
|
$
|
(25,340
|
)
|
$
|
30,254
|
|||||||||
Three months ended March 31, 2019:
|
||||||||||||||||||||
Revenue from external customers
|
$
|
178,744
|
$
|
140,250
|
$
|
28,519
|
$
|
-
|
$
|
347,513
|
||||||||||
Intersegment revenue
|
4,809
|
3,629
|
-
|
-
|
8,438
|
|||||||||||||||
Total revenue
|
$
|
183,553
|
$
|
143,879
|
$
|
28,519
|
$
|
-
|
$
|
355,951
|
||||||||||
Operating income (loss)
|
$
|
23,125
|
$
|
30,199
|
$
|
4,218
|
$
|
(8,122
|
)
|
$
|
49,420
|
|||||||||
Interest expense
|
-
|
-
|
-
|
5,402
|
5,402
|
|||||||||||||||
Earnings (loss) before income taxes
|
$
|
23,125
|
$
|
30,199
|
$
|
4,218
|
$
|
(13,524
|
)
|
$
|
44,018
|
(In thousands)
|
Flavors &
Fragrances
|
Color
|
Asia
Pacific
|
Consolidated
|
||||||||||||
Three months ended March 31, 2020:
|
||||||||||||||||
Flavors, Extracts & Flavor Ingredients
|
$
|
101,453
|
$
|
-
|
$
|
-
|
$
|
101,453
|
||||||||
Natural Ingredients
|
57,600
|
-
|
-
|
57,600
|
||||||||||||
Fragrances
|
22,284
|
-
|
-
|
22,284
|
||||||||||||
Yogurt Fruit Preparations
|
5,161
|
-
|
-
|
5,161
|
||||||||||||
Food & Beverage Colors
|
-
|
90,793
|
-
|
90,793
|
||||||||||||
Personal Care
|
-
|
43,743
|
-
|
43,743
|
||||||||||||
Inks
|
-
|
8,959
|
-
|
8,959
|
||||||||||||
Asia Pacific
|
-
|
-
|
30,449
|
30,449
|
||||||||||||
Intersegment Revenue
|
(5,311
|
)
|
(4,302
|
)
|
(152
|
)
|
(9,765
|
)
|
||||||||
Total revenue from external customers
|
$
|
181,187
|
$
|
139,193
|
$
|
30,297
|
$
|
350,677
|
(In thousands)
|
Flavors &
Fragrances
|
Color
|
Asia
Pacific
|
Consolidated
|
||||||||||||
Three months ended March 31, 2020:
|
||||||||||||||||
North America
|
$
|
116,701
|
$
|
66,265
|
$
|
-
|
$
|
182,966
|
||||||||
Europe
|
43,877
|
38,738
|
22
|
82,637
|
||||||||||||
Asia Pacific
|
9,355
|
15,975
|
29,122
|
54,452
|
||||||||||||
Other
|
11,254
|
18,215
|
1,153
|
30,622
|
||||||||||||
Total revenue from external customers
|
$
|
181,187
|
$
|
139,193
|
$
|
30,297
|
$
|
350,677
|
||||||||
Three months ended March 31, 2019:
|
||||||||||||||||
North America
|
$
|
112,747
|
$
|
66,007
|
$
|
25
|
$
|
178,779
|
||||||||
Europe
|
48,001
|
42,135
|
41
|
90,177
|
||||||||||||
Asia Pacific
|
7,609
|
16,425
|
28,266
|
52,300
|
||||||||||||
Other
|
10,387
|
15,683
|
187
|
26,257
|
||||||||||||
Total revenue from external customers
|
$
|
178,744
|
$
|
140,250
|
$
|
28,519
|
$
|
347,513
|
7. |
Retirement Plans
|
|
Three Months Ended
March 31,
|
|||||||
(In thousands)
|
2020
|
2019
|
||||||
Service cost
|
$
|
400
|
$
|
359
|
||||
Interest cost
|
256
|
320
|
||||||
Expected return on plan assets
|
(209
|
)
|
(231
|
)
|
||||
Recognized actuarial loss (gain)
|
16
|
(39
|
)
|
|||||
Total defined benefit expense
|
$
|
463
|
$
|
409
|
8. |
Derivative Instruments and Hedging Activity
|
9. |
Income Taxes
|
10. |
Accumulated Other Comprehensive Income
|
(In thousands)
|
Cash Flow
Hedges (a)
|
Pension
Items (a)
|
Foreign
Currency
Items
|
Total
|
||||||||||||
Balances at December 31, 2019
|
$
|
(199
|
)
|
$
|
(672
|
)
|
$
|
(162,137
|
)
|
$
|
(163,008
|
)
|
||||
Other comprehensive loss before reclassifications
|
(1,865
|
)
|
-
|
(42,925
|
)
|
(44,790
|
)
|
|||||||||
Amounts reclassified from OCI
|
429
|
8
|
-
|
437
|
||||||||||||
Balances at March 31, 2020
|
$
|
(1,635
|
)
|
$
|
(664
|
)
|
$
|
(205,062
|
)
|
$
|
(207,361
|
)
|
(In thousands)
|
Cash Flow
Hedges (a)
|
Pension
Items (a)
|
Foreign
Currency
Items
|
Total
|
||||||||||||
Balances at December 31, 2018
|
$
|
147
|
$
|
549
|
$
|
(166,251
|
)
|
$
|
(165,555
|
)
|
||||||
Other comprehensive income (loss) before reclassifications
|
597
|
-
|
(1,164
|
)
|
(567
|
)
|
||||||||||
Amounts reclassified from OCI
|
(112
|
)
|
(37
|
)
|
-
|
(149
|
)
|
|||||||||
Balances at March 31, 2019
|
$
|
632
|
$
|
512
|
$
|
(167,415
|
)
|
$
|
(166,271
|
)
|
(a) |
Cash Flow Hedges and Pension Items are net of tax.
|
11. |
Commitments and Contingencies
|
12. |
Subsequent Events
|
ITEM 2. |
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
|
Three Months Ended March 31,
|
||||||||||||
(In thousands except per share amounts)
|
2020
|
2019
|
% Change
|
|||||||||
Revenue (GAAP)
|
$
|
350,677
|
$
|
347,513
|
0.9
|
%
|
||||||
Revenue of the product lines to be divested
|
(36,585
|
)
|
(39,021
|
)
|
||||||||
Adjusted revenue
|
$
|
314,092
|
$
|
308,492
|
1.8
|
%
|
||||||
Operating Income (GAAP)
|
$
|
34,561
|
$
|
49,420
|
(30.1
|
%)
|
||||||
Divestiture & other related costs – Cost of products sold
|
190
|
-
|
||||||||||
Divestiture & other related costs – Selling and administrative expenses
|
11,653
|
-
|
||||||||||
Operating income of the product lines to be divested
|
(1,385
|
)
|
(32
|
)
|
||||||||
Adjusted operating income
|
$
|
45,019
|
$
|
49,388
|
(8.8
|
%)
|
||||||
Net Earnings (GAAP)
|
$
|
20,773
|
$
|
32,807
|
(36.7
|
%)
|
||||||
Divestiture & other related costs, before tax
|
11,843
|
-
|
||||||||||
Tax impact of divestiture & other related costs
|
(934
|
)
|
-
|
|||||||||
Net earnings of the product lines to be divested, before tax
|
(1,385
|
)
|
(32
|
)
|
||||||||
Tax impact of the product lines to be divested
|
297
|
11
|
||||||||||
Adjusted net earnings
|
$
|
30,594
|
$
|
32,786
|
(6.7
|
%)
|
||||||
Diluted EPS (GAAP)
|
$
|
0.49
|
$
|
0.78
|
(37.2
|
%)
|
||||||
Divestiture & other related costs, net of tax
|
0.26
|
-
|
||||||||||
Results of operations of the product lines to be divested, net of tax
|
(0.03
|
)
|
-
|
|||||||||
Adjusted diluted EPS
|
$
|
0.72
|
$
|
0.78
|
(7.7
|
%)
|
|
Three Months Ended March 31, 2020
|
|||||||||||||||
Revenue
|
Total
|
Foreign
Exchange
Rates
|
Product
Lines to
be
Divested
|
Adjusted
Local
Currency
|
||||||||||||
Flavors & Fragrances
|
1.6
|
%
|
(1.1
|
%)
|
(0.9
|
%)
|
3.6
|
%
|
||||||||
Color
|
(0.3
|
%)
|
(2.2
|
%)
|
(0.9
|
%)
|
2.8
|
%
|
||||||||
Asia Pacific
|
6.8
|
%
|
(1.7
|
%)
|
0.0
|
%
|
8.5
|
%
|
||||||||
Total Revenue
|
0.9
|
%
|
(1.6
|
%)
|
(0.6
|
%)
|
3.1
|
%
|
||||||||
Operating Income
|
||||||||||||||||
Flavors & Fragrances
|
(9.7
|
%)
|
(0.9
|
%)
|
5.7
|
%
|
(14.5
|
%)
|
||||||||
Color
|
(1.8
|
%)
|
(2.3
|
%)
|
0.2
|
%
|
0.3
|
%
|
||||||||
Asia Pacific
|
19.9
|
%
|
0.7
|
%
|
0.0
|
%
|
19.2
|
%
|
||||||||
Corporate & Other
|
159.0
|
%
|
0.0
|
%
|
145.8
|
%
|
13.2
|
%
|
||||||||
Total Operating Income
|
(30.1
|
%)
|
(1.8
|
%)
|
(21.1
|
%)
|
(7.2
|
%)
|
||||||||
Diluted EPS
|
(37.2
|
%)
|
(2.6
|
%)
|
(29.5
|
%)
|
(5.1
|
%)
|
ITEM 3. |
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
|
ITEM 4. |
CONTROLS AND PROCEDURES
|
PART II. |
OTHER INFORMATION
|
ITEM 1. |
LEGAL PROCEEDINGS
|
ITEM 1A. |
RISK FACTORS
|
ITEM 2. |
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
|
ITEM 6. |
EXHIBITS
|
Exhibit
|
Description
|
Incorporated by Reference From
|
|
Filed Herewith
|
||
|
|
|
|
|
|
|
|
Sensient Technologies Corporation Amended and Restated By-Laws
|
|
Exhibit 3.2 to Current Report on Form 8-K filed March 27, 2020 (Commission File No. 1-7626)
|
|
|
|
|
|
|
|
|
|
|
|
Executive Employment Contract, dated as of February 13, 2020, by and between Sensient Technologies Corporation and Paul Manning
|
|
Exhibit 10.1 to Current Report on Form 8-K filed February 14, 2020 (Commission File No. 1-7626)
|
|
|
|
|
|
|
|
|
|
|
|
Certifications of the Company’s Chairman, President & Chief Executive Officer and Senior Vice President & Chief Financial Officer pursuant to Rule 13a-14(a) of the Exchange Act
|
|
|
|
X
|
|
|
|
|
|
|
|
|
|
Certifications of the Company’s Chairman, President & Chief Executive Officer and Senior Vice President & Chief Financial Officer pursuant to 18 United States Code § 1350
|
|
|
|
X
|
|
|
|
|
|
|
|
|
101.INS
|
|
Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document)
|
|
|
|
X
|
|
|
|
|
|
|
|
101.SCH
|
|
Inline XBRL Taxonomy Extension Schema Document
|
|
|
|
X
|
|
|
|
|
|
|
|
101.CAL
|
|
Inline XBRL Taxonomy Extension Calculation Linkbase Document
|
|
|
|
X
|
|
|
|
|
|
|
|
101.DEF
|
|
Inline XBRL Taxonomy Extension Definition Linkbase Document
|
|
|
|
X
|
|
|
|
|
|
|
|
101.LAB
|
|
Inline XBRL Taxonomy Extension Label Linkbase Document
|
|
X
|
||
|
|
|
|
|
|
|
101.PRE
|
|
Inline XBRL Taxonomy Extension Presentation Linkbase Document
|
|
|
|
X
|
|
|
|
|
|
|
|
104
|
|
Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)
|
|
|
|
X
|
|
|
SENSIENT TECHNOLOGIES CORPORATION
|
||
|
|
|
|
|
Date:
|
May 4, 2020
|
By:
|
/s/ John J. Manning
|
|
|
|
|
John J. Manning, Senior Vice
President, General Counsel &
Secretary
|
|
|
|
|
|
|
Date:
|
May 4, 2020
|
By:
|
/s/ Stephen J. Rolfs
|
|
|
|
|
Stephen J. Rolfs, Senior Vice
President & Chief Financial
Officer
|
|
1 Year Sensient Technologies Chart |
1 Month Sensient Technologies Chart |
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