Net Income Per Share (Tables)

6 Months Ended

Jun. 30, 2022

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 income (loss) per share is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(AMOUNTS IN MILLIONS EXCEPT PER SHARE AMOUNTS)	2022		2021		2022		2021
Net Income (Loss)
Net income (loss) attributable to IFF shareholders	$	107	$	28	$	351	$	(14)
Adjustment related to (increase) decrease in redemption value of redeemable noncontrolling interests in excess of earnings allocated	2		1		2		—
Net income (loss) available to IFF shareholders	$	109	$	29	$	353	$	(14)
Shares
Weighted average common shares outstanding (basic)(1)	255		254		255		230
Adjustment for assumed dilution(2):

SPC portion of TEUs	—		1		—		—
Weighted average shares assuming dilution (diluted)	255		255		255		230

Net Income (Loss) per Share
Net income (loss) per share - basic	$	0.43	$	0.11	$	1.38	$	(0.06)
Net income (loss) per share - diluted	0.43		0.11		1.38		(0.06)

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(1)On September 15, 2021, additional shares of IFF's common stock were issued in settlement of the stock purchase contract (“SPC”) portion of the tangible equity units (“TEUs”). For the three and six months ended June 30, 2021, the TEUs were assumed to be outstanding at the minimum settlement amount for basic earnings per share (“EPS”). See below for additional information.

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