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CONSOLIDATED STATEMENT OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Income Statement [Abstract]        
Net sales $ 3,307 $ 3,089 $ 6,533 $ 5,554
Cost of goods sold 2,171 2,179 4,252 3,890
Gross profit 1,136 910 2,281 1,664
Research and development expenses 158 164 315 307
Selling and administrative expenses 456 412 915 863
Amortization of acquisition-related intangibles 184 200 370 352
Impairment of long-lived assets 120 0 120 0
Restructuring and other charges 7 24 9 28
Gains on sales of fixed assets (2) 0 (2) 0
Operating profit 213 110 554 114
Interest expense 77 77 149 142
Other expense (income), net 6 (11) (10) (18)
Income (loss) before taxes 130 44 415 (10)
Provision for income taxes 21 14 60 0
Net income (loss) 109 30 355 (10)
Net income attributable to noncontrolling interests 2 2 4 4
Net income (loss) attributable to IFF shareholders $ 107 $ 28 $ 351 $ (14)
Net income per share - basic (in dollars per share) $ 0.43 $ 0.11 $ 1.38 $ (0.06)
Net income per share - diluted (in dollars per share) $ 0.43 $ 0.11 $ 1.38 $ (0.06)
Average number of shares outstanding - basic (in shares) 255 254 255 230
Average number of shares outstanding - diluted (in shares) 255 255 255 230
Dividends declared per share, in dollars per share $ 0.79 $ 0.77 $ 1.58 $ 1.54
Other comprehensive (loss) income, after tax:        
Foreign currency translation adjustments $ (589) $ 263 $ (788) $ (154)
Gains on derivatives qualifying as hedges 0 2 0 6
Pension and postretirement liability adjustment 1 3 1 12
Net current period other comprehensive income (loss) (588) 268 (787) (136)
Comprehensive (loss) income (479) 298 (432) (146)
Comprehensive (loss) income attributable to IFF shareholders $ (481) $ 296 $ (436) $ (150)