Redeemable Noncontrolling Interests

3 Months Ended

Mar. 31, 2021

REDEEMABLE NONCONTROLLING INTERESTS

Through certain subsidiaries of our Frutarom acquisition, there are certain noncontrolling interests that carry redemption features. The noncontrolling interest holders have the right, over a stipulated period of time, to sell their respective interests to Frutarom, and Frutarom has the option to purchase these interests (subject to the same timing). These options carry identical price and conditions of exercise, and will be settled based on the multiple of the average EBITDA of consecutive quarters to be achieved during the period ending prior to the exercise date.

The following table sets forth the details of the Company's redeemable noncontrolling interests:


(DOLLARS IN MILLIONS)	Redeemable Noncontrolling Interests
Balance at December 31, 2019	$	99

Impact of foreign exchange translation	19
Share of profit or loss attributable to redeemable noncontrolling interests	2
Redemption value adjustment for the current period	(6)
Measurement period adjustments	(1)

Exercises of redeemable noncontrolling interests	(10)
Balance at March 31, 2020	$	103

Balance at December 31, 2020	$	98

Impact of foreign exchange translation	2
Share of profit or loss attributable to redeemable noncontrolling interests	1
Redemption value adjustment for the current period	1



Balance at March 31, 2021	$	102

For 2020, the increase in redeemable noncontrolling interests was primarily due to the impact of foreign exchange translation offset by the exercise of options.

During 2020, the Company paid approximately $14 million related to the purchase of certain noncontrolling interests where the option related to the purchase had been exercised in the fourth quarter of 2019.

For 2021, the increase in redeemable noncontrolling interests was primarily due to foreign exchange translation.