XML 14 R4.htm IDEA: XBRL DOCUMENT v3.21.1
CONSOLIDATED STATEMENT OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Income Statement [Abstract]    
Net sales $ 2,465.0 $ 1,347.0
Cost of goods sold 1,711.0 781.0
Gross profit 754.0 566.0
Research and development expenses 143.0 86.0
Selling and administrative expenses 451.0 230.0
Amortization of acquisition-related intangibles 152.0 48.0
Restructuring and other charges, net 4.0 5.0
Losses on sales of fixed assets 0.0 1.0
Operating profit 4.0 196.0
Interest expense 65.0 32.0
Other (income) expense, net (7.0) 11.0
(Loss) income before taxes (54.0) 153.0
Taxes on (loss) income (14.0) 26.0
Net (loss) income (40.0) 127.0
Net income attributable to noncontrolling interests 2.0 3.0
Net (loss) income attributable to IFF stockholders (42.0) 124.0
Other comprehensive loss, after tax:    
Foreign currency translation adjustments (417.0) (452.0)
Gains on derivatives qualifying as hedges 4.0 1.0
Pension and postretirement net liability 9.0 4.0
Net current period other comprehensive income (loss) (404.0) (447.0)
Comprehensive loss attributable to IFF stockholders $ (446.0) $ (323.0)
Net income per share - basic (in dollars per share) $ (0.21) $ 1.16
Net income per share - diluted (in dollars per share) $ (0.21) $ 1.15
Average number of shares outstanding - basic (in shares) 206 112
Average number of shares outstanding - diluted (in shares) 206 113