XML 14 R4.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED STATEMENT OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Income Statement [Abstract]        
Net sales $ 3,071 $ 1,268 $ 8,625 $ 3,814
Cost of goods sold 1,981 744 5,871 2,242
Gross profit 1,090 524 2,754 1,572
Research and development expenses 156 89 463 256
Selling and administrative expenses 436 235 1,299 695
Amortization of acquisition-related intangibles 195 48 547 145
Restructuring and other charges 6 1 34 8
(Gains) losses on sales of fixed assets (1) 1 (1) 2
Operating profit 298 150 412 466
Interest expense 74 35 216 99
Other (income) expense, net (26) 10 (44) 5
Income before taxes 250 105 240 362
Provision for income taxes 53 19 53 61
Net income 197 86 187 301
Net income attributable to noncontrolling interests 3 1 7 5
Net income attributable to IFF stockholders 194 85 180 296
Other comprehensive (loss) income, after tax:        
Foreign currency translation adjustments (339) 79 (493) (226)
Gains (losses) on derivatives qualifying as hedges 1 (4) 7 (6)
Pension and postretirement net liability (8) 3 4 10
Net current period other comprehensive income (loss) (346) 78 (482) (222)
Comprehensive (loss) income attributable to IFF stockholders $ (152) $ 163 $ (302) $ 74
Net income per share - basic (in dollars per share) $ 0.76 $ 0.76 $ 0.75 $ 2.68
Net income per share - diluted (in dollars per share) $ 0.76 $ 0.75 $ 0.75 $ 2.64
Average number of shares outstanding - basic (in shares) 254 112 239 112
Average number of shares outstanding - diluted (in shares) 255 114 239 114