XML 43 R33.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Segment Information (Tables)
6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Reportable Segment Information
Reportable segment information was as follows:
 Three Months EndedSix Months Ended
June 30,June 30,
(DOLLARS IN MILLIONS)2024202320242023
Net sales:
Nourish$1,478 $1,564 $2,974 $3,217 
Health & Biosciences558 522 1,089 1,035 
Scent603 592 1,248 1,200 
Pharma Solutions250 251 477 504 
Consolidated$2,889 $2,929 $5,788 $5,956 
Segment Adjusted Operating EBITDA:
Nourish$232 $181 $448 $389 
Health & Biosciences165 145 324 276 
Scent137 117 294 222 
Pharma Solutions54 67 100 126 
Total588 510 1,166 1,013 
Depreciation & Amortization(246)(287)(524)(563)
Interest Expense(79)(101)(162)(201)
Other (Expense) Income, net(15)11 (16)
Restructuring and Other Charges (a)(2)(7)(5)(59)
Impairment of Goodwill b)(64)— (64)— 
Gains (Losses) on Business Disposals c)368 (5)368 (19)
Loss on Assets Classified as Held for Sale d)(282)— (282)— 
Acquisition, Divestiture and Integration Costs e)(59)(45)(117)(76)
Strategic Initiatives Costs f)(12)(9)(16)(22)
Regulatory Costs g)(19)(14)(54)(19)
Other h)(3)
Income Before Taxes$183 $50 $298 $64 
_______________________
(a)For 2024, represents costs related to lease impairment and severance as part of the Company's restructuring efforts. For 2023, represents costs primarily related to severance as part of the Company's restructuring efforts.
b)Represents costs related to the impairment of goodwill related to the Pharma Solutions disposal group.
c)For 2024, primarily represents gains recognized as part of the sale of the Cosmetic Ingredients business. For 2023, primarily represents losses recognized as part of the sale of a portion of the Savory Solutions business.
d)Represents the loss recognized on assets classified as held for sale of the Pharma Solutions disposal group.
e)
For 2024 and 2023, primarily represents costs related to the Company's actual and planned acquisitions and divestitures and integration related activities primarily for N&B. These costs primarily consisted of external consulting fees, professional and legal fees and salaries of individuals who are fully dedicated to such efforts.

For the three months ended June 30, 2024, business divestiture and integration related costs were approximately $56 million and $3 million, respectively. For the three months ended June 30, 2023, business divestiture, integration and acquisition related costs were approximately $20 million, $20 million and $5 million, respectively. For the six months ended June 30, 2024, business divestiture and integration related costs were approximately $112 million and $5 million, respectively. For the six months ended June 30, 2023, business divestiture, integration and acquisition related costs were approximately $41 million, $30 million, and $5 million, respectively.
f)Represents costs related to the Company's strategic assessment and business portfolio optimization efforts and reorganizing the Global Business Services Centers, primarily consulting fees.
g)Represents costs primarily related to legal fees incurred and provisions recognized for the ongoing investigations of the fragrance businesses.
h)Represents gains (losses) from sale of assets, executive employee separation costs and costs related to the Company's entity realignment project to optimize the structure of holding companies, primarily consulting fees.
Net Sales by Destination of Product Delivery
Net sales, which are attributed to individual regions based upon the destination of product delivery, were as follows:
 Three Months Ended June 30,Six Months Ended June 30,
(DOLLARS IN MILLIONS)2024202320242023
Europe, Africa and Middle East$972 $970 $1,949 $2,040 
Greater Asia681 673 1,363 1,361 
North America876 910 1,742 1,815 
Latin America360 376 734 740 
Consolidated$2,889 $2,929 $5,788 $5,956 
 Three Months Ended June 30,Six Months Ended June 30,
(DOLLARS IN MILLIONS)2024202320242023
Net sales related to the U.S.$822 $777 $1,633 $1,648 
Net sales attributed to all foreign countries2,067 2,152 4,155 4,308