EX-99.5 6 ex995.htm Exhibit 99.5

Exhibit 99.5

INTERNATIONAL FLAVORS & FRAGRANCES INC.
UNAUDITED PRO-FORMA CONSOLIDATED INCOME STATEMENT

(Dollars in thousands)


2004 Quarter-to-date Year-to-date
1st Quarter As reported Germany and
Switzerland
Fruit Business		 Pro-Forma
Net sales   $535,015    17,452   $517,563          
Cost of goods sold   306,786   12,905   293,881          
Gross margin on sales   228,229   4,547   223,682          
Research & development   44,648   406   44,242          
Selling and administrative   89,726   1,272   88,454          
Amortization   3,699   --   3,699          
    90,156   2,869   87,287          
Restructuring and other charges   -- --   --    
Interest expense   (6,457 ) --   (6,457 )    
Other income (expense), net   (1,425 ) --   (1,425 )        
Pretax income   82,274   2,869   79,405          
Income taxes   25,916   904   25,012          
Net Income   $ 56,358    1,965   $ 54,393          

2nd Quarter As reported Germany and
Switzerland
Fruit Business		 Pro Forma As reported Germany and
Switzerland
Fruit Business		 Pro Forma
Net sales   $524,177    15,591   $508,586     $1,059,192   33,043   $1,026,149  
Cost of goods sold   295,716   11,450   284,266     602,502   24,355   578,147  
Gross margin on sales   228,461   4,141   224,320     456,690   8,688   448,002  
Research & development   44,342   397   43,945     88,990   803   88,187  
Selling and administrative   83,184   1,210   81,974     172,910   2,482   170,428  
Amortization   3,709   --   3,709     7,408   --   7,408  
    97,226   2,534   94,692     187,382   5,403   181,979  
Restructuring and other charges   (7,716 ) --   (7,716 )   (7,716 ) --   (7,716 )
Interest expense   (6,114 ) --   (6,114 )   (12,571 ) --   (12,571 )
Other income (expense), net   (1,305 ) --   (1,305 )   (2,730 ) --   (2,730 )
Pretax income   82,091   2,534   79,557     164,365   5,403   158,962  
Income taxes   25,589   790   24,799     51,505   1,694   49,811  
Net Income   $ 56,502   1,744   $ 54,758     $112,860   3,709   $109,151  

3rd Quarter Germany and
Switzerland
Fruit Business		 Germany and
Switzerland
Fruit Business
Net sales     $6,094         $39,137    
Cost of goods sold     4,843         29,198    
Gross margin on sales     1,251         9,939    
Research & development     202         1,005    
Selling and administrative     648         3,130    
Amortization     --         --    
      401         5,804    
Restructuring and other charges   --     --  
Interest expense   --     --  
Other income (expense), net   --     --  
Pretax income     401         5,804    
Income taxes     120         1,814    
Net Income     $  281         $ 3,990