Redeemable Noncontrolling Interests

6 Months Ended

Jun. 30, 2022

Noncontrolling Interest [Abstract]

Redeemable Noncontrolling Interests

REDEEMABLE NONCONTROLLING INTERESTS

Through certain subsidiaries of the Company's 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, 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 noncontrolling interests:

(DOLLARS IN MILLIONS)	Redeemable Noncontrolling Interests
Balance at December 31, 2020	$	98
Impact of foreign exchange translation	(1)
Share of profit or loss attributable to redeemable noncontrolling interests	3
Balance at June 30, 2021	$	100
Balance at December 31, 2021	$	105
Impact of foreign exchange translation	(1)
Share of profit or loss attributable to redeemable noncontrolling interests	2
Redemption value adjustment for the current period	(2)
Exercises of redeemable noncontrolling interests	(18)
Balance at June 30, 2022	$	86