Redeemable Noncontrolling Interests

12 Months Ended

Dec. 31, 2021

REDEEMABLE NON-CONTROLLING INTERESTSThrough certain subsidiaries of the Company's Frutarom acquisition, there are certain non-controlling interests that carry redemption features. The non-controlling 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, in most cases, similar price and conditions of exercise, and will be settled on a pre-agreed formula based on a 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 non-controlling interests:


(DOLLARS IN MILLIONS)	Redeemable Noncontrolling Interests
Balance at December 31, 2018	$	82
Acquired through acquisitions during 2019	24

Share of profit or loss attributable to redeemable noncontrolling interests	1
Redemption value adjustment for the current period	2
Measurement period adjustments	5

Dividends paid	(1)
Exercises of redeemable noncontrolling interests	(14)
Balance at December 31, 2019	$	99

Impact of foreign exchange translation	13
Share of profit or loss attributable to redeemable noncontrolling interests	3
Redemption value adjustment for the current period	(2)
Measurement period adjustments	(1)

Dividends paid	(2)
Exercises of redeemable noncontrolling interests	(12)
Balance at December 31, 2020	$	98

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

Dividends paid	(2)

Balance at December 31, 2021	$	105

For 2019, the increase in redeemable non-controlling interests was primarily due to the interests acquired through acquisitions during the first quarter of 2019.

For 2020, the increase in redeemable non-controlling interests was primarily due to the impact of foreign exchange translation offset by the exercise of options. In addition, during 2020, the Company paid $14 million related to the purchase of certain non-controlling interests where the option related to the purchase had been exercised in the fourth quarter of 2019.

For 2021, the increase in redeemable non-controlling interests was primarily due to profits attributable to redeemable non-controlling interests.