Net Income Per Share (Tables)

3 Months Ended

Mar. 31, 2021

Reconciliation of Shares Used in Computation of Basic and Diluted Net Income Per Share

A reconciliation of the shares used in the computation of basic and diluted net (loss) income per share is as follows:


	Three Months Ended March 31,
(AMOUNTS IN MILLIONS EXCEPT PER SHARE AMOUNTS)	2021		2020
Net (Loss) Income
Net (loss) income attributable to IFF stockholders	$	(42)	$	124
Adjustment related to (increase) decrease in redemption value of redeemable noncontrolling interests in excess of earnings allocated	(1)		6
Net (loss) income available to IFF stockholders	$	(43)	$	130
Shares
Weighted average common shares outstanding (basic)(1)	206		112
Adjustment for assumed dilution(2):

SPC portion of TEUs	—		1
Weighted average shares assuming dilution (diluted)	206		113

Net (Loss) Income per Share (3)
Net (loss) income per share - basic	$	(0.21)	$	1.16
Net (loss) income per share - diluted	(0.21)		1.15

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(1)For the three months ended March 31, 2021 and 2020, the tangible equity units (“TEUs”) were assumed to be outstanding at the minimum settlement amount for basic earnings per share. See below for details.

(2)Effect of dilutive securities includes dilution under stock plans and incremental impact of TEUs. See below for details.

(3)Diluted net (loss) income per share attributable to IFF for the three months ended March 31, 2021 excluded one million potentially dilutive securities because there was a net loss attributable to IFF for the period and, as such, the inclusion of these securities would have been anti-dilutive.