XML 46 R37.htm IDEA: XBRL DOCUMENT v3.22.2
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Reportable Segment Information
Reportable segment information was as follows:
 Three Months EndedSix Months Ended
June 30,June 30,
(DOLLARS IN MILLIONS)2022202120222021
Net sales:
Nourish$1,818 $1,668 $3,549 $2,976 
Health & Biosciences665 639 1,326 1,065 
Scent580 550 1,165 1,119 
Pharma Solutions244 232 493 394 
Consolidated$3,307 $3,089 $6,533 $5,554 
Segment Adjusted Operating EBITDA:
Nourish$365 $324 $694 $594 
Health & Biosciences184 190 376 318 
Scent93 117 209 245 
Pharma Solutions58 48 123 91 
Total700 679 1,402 1,248 
Depreciation & Amortization(301)(322)(604)(564)
Interest Expense(77)(77)(149)(142)
Other (Expense) Income, net(6)11 10 18 
Acquisition Related Costs (a)(1)— (1)— 
Restructuring and Other Charges (7)(24)(9)(28)
Gains on sales of fixed assets 2 — 2 — 
Impairment of Long-Lived Assets (b)(120)— (120)— 
Shareholder Activism Related Costs (c)— — (3)(7)
Business Divestiture Costs (d)(30)(5)(60)(5)
Employee Separation Costs (e)— (3)(4)(6)
Frutarom Acquisition Related Costs (f)— — (1)— 
N&B Inventory Step-Up Costs — (195)— (377)
N&B Transaction Related Costs (g)— (2)— (91)
Integration Related Costs (h)(30)(18)(48)(56)
Income (Loss) Before Taxes$130 $44 $415 $(10)
_______________________
(a)Represents costs related to the acquisition of Health Wright Products, primarily consulting and legal fees.
(b)Represents costs related to the impairment of intangible and fixed assets of an asset group that operates primarily in Russia.
(c)Represents shareholder activist related costs, primarily professional fees.
(d)Represents costs related to the Company's planned sales of businesses, primarily legal and professional fees.
(e)Represents costs related to severance, including accelerated stock compensation expense, for certain employees and executives who have been separated or will separate from the Company.
(f)Represents transaction-related costs and expenses related to the acquisition of Frutarom.
(g)Represents transaction costs and expenses related to the transaction with N&B, primarily includes legal and professional fees.
(h)Represents costs related to integration activities since 2018, primarily for Frutarom and N&B. For 2022, represents costs primarily related to external consulting fees and internal integration costs, including salaries of individuals who are fully dedicated to integration efforts. For 2021, represents costs primarily related to performance stock awards and consulting fees for advisory services.
Net Sales by Destination of Product Delivery
Net sales, which are attributed to individual regions based upon the destination of product delivery, were as follows:
 Three Months Ended June 30,Six Months Ended June 30,
(DOLLARS IN MILLIONS)2022202120222021
Europe, Africa and Middle East$1,100 $1,084 $2,228 $1,957 
Greater Asia755 707 1,499 1,294 
North America1,065 961 2,067 1,683 
Latin America387 337 739 620 
Consolidated$3,307 $3,089 $6,533 $5,554 
 Three Months Ended June 30,Six Months Ended June 30,
(DOLLARS IN MILLIONS)2022202120222021
Net sales related to the U.S.$978 $876 $1,879 $1,530 
Net sales attributed to all foreign countries2,329 2,213 4,654 4,024