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v3.22.2

Business Segments (Tables) | 6 Months Ended
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May 31, 2022
Segment Reporting [Abstract] |
Business segments |
| Consumer |  | Flavor Solutions |  | Total
|  |  | (in millions) |  |
Three months ended May 31, 2022 |  |  |  |  |
Net sales | $ | 866.1 |  |  | $ | 670.7 |  |  | $ | 1,536.8 |
Operating income excluding special charges and transaction and integration expenses | 124.8 |  |  | 49.0 |  |  | 173.8 |
Income from unconsolidated operations | 8.4 |  |  | 2.0 |  |  | 10.4 |
Three months ended May 31, 2021 |  |  |  |  |
Net sales | $ | 945.2 |  |  | $ | 611.5 |  |  | $ | 1,556.7 |
Operating income excluding special charges and transaction and integration expenses | 176.8 |  |  | 81.2 |  |  | 258.0 |
Income from unconsolidated operations | 22.2 |  |  | 1.2 |  |  | 23.4 |
Six months ended May 31, 2022 |  |  |  |  |
Net sales | $ | 1,792.2 |  |  | $ | 1,267.0 |  |  | $ | 3,059.2 |
Operating income excluding special charges and transaction and integration expenses | 291.8 |  |  | 109.1 |  |  | 400.9 |
Income from unconsolidated operations | 16.8 |  |  | 2.9 |  |  | 19.7 |
Six months ended May 31, 2021 |  |  |  |  |
Net sales | $ | 1,892.0 |  |  | $ | 1,146.2 |  |  | $ | 3,038.2 |
Operating income excluding special charges and transaction and integration expenses | 366.7 |  |  | 153.8 |  |  | 520.5 |
Income from unconsolidated operations | 33.0 |  |  | 3.7 |  |  | 36.7 |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated | A reconciliation of operating income excluding special charges and transaction and integration expenses, to operating income is as follows (in millions):
| Consumer |  | Flavor Solutions |  | Total
Three months ended May 31, 2022 |  |  |  |  |
Operating income excluding special charges and transaction and integration expenses | $ | 124.8 |  |  | $ | 49.0 |  |  | $ | 173.8 |
Less: Special charges | 10.7 |  |  | 4.4 |  |  | 15.1 |
Less: Transaction and integration expenses | — |  |  | 1.5 |  |  | 1.5 |
Operating income | $ | 114.1 |  |  | $ | 43.1 |  |  | $ | 157.2 |
Three months ended May 31, 2021 |  |  |  |  |
Operating income excluding special charges and transaction and integration expenses | $ | 176.8 |  |  | $ | 81.2 |  |  | $ | 258.0 |
Less: Special charges | 8.8 |  |  | 4.9 |  |  | 13.7 |
Less: Transaction and integration expenses | 3.1 |  |  | 3.8 |  |  | 6.9 |
Operating income | $ | 164.9 |  |  | $ | 72.5 |  |  | $ | 237.4 |
Six months ended May 31, 2022 |  |  |  |  |
Operating income excluding special charges and transaction and integration expenses | $ | 291.8 |  |  | $ | 109.1 |  |  | $ | 400.9 |
Less: Special charges | 14.3 |  |  | 20.3 |  |  | 34.6 |
Less: Transaction and integration expenses | — |  |  | 2.2 |  |  | 2.2 |
Operating income | $ | 277.5 |  |  | $ | 86.6 |  |  | $ | 364.1 |
Six months ended May 31, 2021
Operating income excluding special charges and transaction and integration expenses | $ | 366.7 |  |  | $ | 153.8 |  |  | $ | 520.5 |
Less: Special charges | 9.6 |  |  | 5.2 |  |  | 14.8 |
Less: Transaction-related expenses included in cost of goods sold | 4.0 |  |  | 2.3 |  |  | 6.3 |
Less: Other transaction and integration expenses | 7.3 |  |  | 18.4 |  |  | 25.7 |
Operating income | $ | 345.8 |  |  | $ | 127.9 |  |  | $ | 473.7 |
Schedule of Disclosure on Geographic Areas | The following table sets forth our net sales, by geographic area, for the three and six months ended May 31, 2022 and 2021 (in millions):
| Americas | EMEA | Asia/Pacific |  | Total
Three months ended May 31, 2022 | $ | 1,102.6 |  | $ | 287.8 |  | $ | 146.4 |  |  | $ | 1,536.8 |
Three months ended May 31, 2021 | 1,081.4 |  | 304.9 |  | 170.4 |  |  | 1,556.7 |
Six months ended May 31, 2022 | 2,125.0 |  | 578.3 |  | 355.9 |  |  | 3,059.2 |
Six months ended May 31, 2021 | 2,046.2 |  | 607.3 |  | 384.7 |  |  | 3,038.2 |

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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- Definition Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Subparagraph a -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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