Stock Compensation Plans

3 Months Ended

Mar. 31, 2012

Stock Compensation Plans [Abstract]

Stock Compensation Plans

Note 7. Stock Compensation Plans:

The Company has various plans under which its officers, senior management, other key employees and directors may be granted equity-based awards. Equity awards outstanding under the plans include PRS, restricted stock units ("RSU's"), stock options and SSAR's; liability-based awards outstanding under the plans are Cash RSUs.

In addition, the Company offers a Long-Term Incentive Plan ("LTIP") for senior management. LTIP plan award payouts are based on meeting certain targeted financial and/or strategic goals established by the Compensation Committee of the Board of Directors early in each three-year LTIP cycle. The targeted payout of each active LTIP cycle is 50% cash and 50% IFF stock. The number of shares for the 50% stock portion is determined by the closing share price on the first trading day at the beginning of the cycle. Generally, an executive may receive a pro-rated payout for each LTIP cycle based on active service during such cycle. An aggregate 128,293 shares of the Company's common stock were issued during March 2012 related to the 2009-2011 cycle.

Stock-based compensation expense and related tax benefits were as follows:

	Three Months Ended March 31,
(DOLLARS IN THOUSANDS)	2012			2011
Equity-based awards	$	2,990		$	4,817
Liability-based awards		931			1,512
Total stock-based compensation expense		3,921			6,329
Less: tax benefit		(1,263	)		(2,302	)
Total stock-based compensation expense, after tax	$	2,658		$	4,027