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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, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Net sales $ 2,820 $ 3,063 $ 8,776 $ 9,596
Cost of goods sold 1,896 2,062 5,955 6,314
Gross profit 924 1,001 2,821 3,282
Research and development expenses 157 145 479 460
Selling and administrative expenses 444 413 1,343 1,328
Amortization of acquisition-related intangibles 170 182 513 552
Impairment of goodwill 0 2,250 0 2,250
Impairment of long-lived assets 0 0 0 120
Restructuring and other charges 2 (4) 61 5
Gain (Loss) on Disposition of Assets (1) 0 1 2
Operating profit (loss) 150 (1,985) 426 (1,431)
Interest expense 110 83 337 232
Other income, net (19) (33) (34) (43)
Income (loss) before taxes 59 (2,035) 123 (1,620)
Provision for income taxes 32 160 77 220
Net income (loss) 27 (2,195) 46 (1,840)
Net income attributable to non-controlling interests 2 2 3 6
Net income (loss) attributable to IFF shareholders $ 25 $ (2,197) $ 43 $ (1,846)
Net income per share - basic (in dollars per share) $ 0.10 $ (8.60) $ 0.16 $ (7.22)
Net income per share - diluted (in dollars per share) $ 0.10 $ (8.60) $ 0.16 $ (7.22)
Average number of shares outstanding - basic (in shares) 255 255 255 255
Average number of shares outstanding - diluted (in shares) 256 255 255 255
Other comprehensive loss, after tax:        
Foreign currency translation adjustments $ (476) $ (982) $ (132) $ (1,770)
Pension and postretirement liability adjustment (3) 5 (6) 6
Net current period other comprehensive income (loss) (479) (977) (138) (1,764)
Comprehensive loss (452) (3,172) (92) (3,604)
Comprehensive loss attributable to IFF shareholders $ (454) $ (3,174) $ (95) $ (3,610)