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CONSOLIDATED STATEMENT OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Statement [Abstract]      
Net sales $ 11,479 $ 12,440 $ 11,656
Cost of goods sold 7,798 8,289 7,921
Gross profit 3,681 4,151 3,735
Research and development expenses 636 603 629
Selling and administrative expenses 1,787 1,768 1,749
Restructuring and other charges 68 12 41
Amortization of acquisition-related intangibles 680 727 732
Impairment of goodwill 2,623 2,250 0
Impairment of long-lived assets 0 120 0
Gains on sale of assets (3) (3) (1)
Operating (loss) profit (2,110) (1,326) 585
Interest expense 380 336 289
Other expense (income), net 28 (37) (58)
(Loss) income before taxes (2,518) (1,625) 354
Provision for income taxes 45 239 75
Net (loss) income (2,563) (1,864) 279
Net income attributable to non-controlling interest 4 7 9
Net income available to IFF common shareholders (2,567) (1,871) 270
Other comprehensive income (loss), after tax:      
Foreign currency translation adjustments 414 (933) (848)
Gains on derivatives qualifying as hedges 0 0 8
Pension and postretirement liability adjustment (112) 158 115
Other comprehensive income (loss) 302 (775) (725)
Comprehensive loss (2,261) (2,639) (446)
Comprehensive loss attributable to IFF shareholders $ (2,265) $ (2,646) $ (455)
Net income per share - basic (in dollars per share) $ (10.05) $ (7.32) $ 1.11
Net income per share - diluted (in dollars per share) $ (10.05) $ (7.32) $ 1.10
Average number of shares outstanding - basic (in shares) 255 255 243
Average number of shares outstanding - diluted (in shares) 255 255 243