XML 13 R4.htm IDEA: XBRL DOCUMENT v3.23.2
CONSOLIDATED STATEMENT OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Income Statement [Abstract]        
Net sales $ 2,929 $ 3,307 $ 5,956 $ 6,533
Cost of goods sold 1,996 2,171 4,059 4,252
Gross profit 933 1,136 1,897 2,281
Research and development expenses 161 158 322 315
Selling and administrative expenses 445 456 899 915
Amortization of acquisition-related intangibles 172 184 343 370
Impairment of long-lived assets 0 120 0 120
Restructuring and other charges 7 7 59 9
Gain (Loss) on Disposition of Assets (3) 2 2 2
Operating profit 145 213 276 554
Interest expense 116 77 227 149
Other (income) expense, net (21) 6 (15) (10)
Income before taxes 50 130 64 415
Provision for income taxes 23 21 45 60
Net income 27 109 19 355
Net income attributable to non-controlling interests 0 2 1 4
Net income attributable to IFF shareholders $ 27 $ 107 $ 18 $ 351
Net income per share - basic (in dollars per share) $ 0.11 $ 0.43 $ 0.07 $ 1.38
Net income per share - diluted (in dollars per share) $ 0.11 $ 0.43 $ 0.07 $ 1.38
Average number of shares outstanding - basic (in shares) 255 255 255 255
Average number of shares outstanding - diluted (in shares) 255 255 255 255
Dividends declared per share, in dollars per share $ 0.81 $ 0.79 $ 1.62 $ 1.58
Other comprehensive income (loss), after tax:        
Foreign currency translation adjustments $ 60 $ (589) $ 344 $ (788)
Pension and postretirement liability adjustment (1) 1 (3) 1
Net current period other comprehensive income (loss) 59 (588) 341 (787)
Comprehensive income (loss) 86 (479) 360 (432)
Comprehensive income (loss) attributable to IFF shareholders $ 86 $ (481) $ 359 $ (436)