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CONSOLIDATED STATEMENT OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]        
Net sales $ 3,063 $ 3,071 $ 9,596 $ 8,625
Cost of goods sold 2,062 1,981 6,314 5,871
Gross profit 1,001 1,090 3,282 2,754
Research and development expenses 145 156 460 463
Selling and administrative expenses 413 436 1,328 1,299
Amortization of acquisition-related intangibles 182 195 552 547
Impairment of goodwill 2,250 0 2,250 0
Impairment of long-lived assets 0 0 120 0
Restructuring and other charges (4) 6 5 34
Gains on sales of fixed assets 0 (1) (2) (1)
Operating (loss) profit (1,985) 298 (1,431) 412
Interest expense 83 74 232 216
Other income, net (33) (26) (43) (44)
(Loss) Income before taxes (2,035) 250 (1,620) 240
Provision for income taxes 160 53 220 53
Net (loss) income (2,195) 197 (1,840) 187
Net income attributable to noncontrolling interests 2 3 6 7
Net (loss) income attributable to IFF shareholders $ (2,197) $ 194 $ (1,846) $ 180
Net income per share - basic (in dollars per share) $ (8.60) $ 0.76 $ (7.22) $ 0.75
Net income per share - diluted (in dollars per share) $ (8.60) $ 0.76 $ (7.22) $ 0.75
Average number of shares outstanding - basic (in shares) 255 254 255 239
Average number of shares outstanding - diluted (in shares) 255 255 255 239
Dividends declared per share, in dollars per share $ 0.81 $ 0.79 $ 2.39 $ 2.33
Other comprehensive loss, after tax:        
Foreign currency translation adjustments $ (982) $ (339) $ (1,770) $ (493)
Gains on derivatives qualifying as hedges 0 1 0 7
Pension and postretirement liability adjustment 5 (8) 6 4
Net current period other comprehensive income (loss) (977) (346) (1,764) (482)
Comprehensive loss (3,172) (149) (3,604) (295)
Comprehensive loss attributable to IFF shareholders $ (3,174) $ (152) $ (3,610) $ (302)