BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2016

BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Property, plant and equipment, estimated useful lives

Depreciation of plant and equipment is calculated using the straight-line method over the estimated useful lives of the assets as follows:

Buildings	15-25years
Equipment	2-28 years

Summary of goodwill

The Company had goodwill in the amount of $439,811 and $383,906 as of December 31, 2016 and December 31, 2015, respectively, subject to the provisions of ASC 350, “Intangibles-Goodwill and Other.”

Goodwill at January 1, 2016	$	383,906
Goodwill as a result of the Acquisition of Albion International, Inc. – see Note 2		55,905
Goodwill at December 31, 2016	$	439,811

There was a $4,272 reduction in the carrying amount of goodwill during the three months ended December 31, 2016, as a result of changes to the fair value of assets acquired and liabilities assumed (See Note 2).

	December 31, 2016		December 31, 2015
Human Nutrition & Health	$	404,187	$	363,784
Animal Nutrition & Health		11,734		11,734
Specialty Products		22,662		7,160
Industrial Products		1,228		1,228
Total	$	439,811	$	383,906

Intangible assets, estimated useful lives

The following intangible assets with finite lives are stated at cost and are amortized either on an accelerated basis or on a straight-line basis over the following estimated useful lives:

	Amortization Period (in years)
Customer relationships and lists		10
Trademarks & trade names		17
Developed technology		5
Regulatory registration costs		5 - 10
Patents & trade secrets		15 - 17
Other		5 - 10