XML 27 R17.htm IDEA: XBRL DOCUMENT
v3.21.1

Stock Compensation Plans | 3 Months Ended
--- | ---
Mar. 31, 2021
Share-based Payment Arrangement [Abstract] |
Stock Compensation Plans | 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 PRSUs, RSUs, SSARs and Long-Term Incentive Plan awards. Liability-based awards outstanding under the plans are cash-settled RSUs. Stock-based compensation expense and related tax benefits were as follows:
| Three Months Ended March 31, |  |
(DOLLARS IN MILLIONS) | 2021 |  | 2020 |  |  |  |
Equity-based awards | $ | 11 |  |  | $ | 9 |  |  |  |  |
Liability-based awards | 3 |  |  | (1) |  |  |  |  |
Total stock-based compensation expense | 14 |  |  | 8 |  |  |  |  |
Less: Tax benefit | (3) |  |  | (1) |  |  |  |  |
Total stock-based compensation expense, after tax | $ | 11 |  |  | $ | 7 |  |  |  |  |
Transaction with Nutrition and Biosciences, Inc. In connection with the Merger, N&B employees’ unvested and vested equity awards were converted into equity awards denominated in shares of the Company’s common stock based on a defined exchange ratio. N&B employees’ equity awards were converted into 335,347 IFF stock options, 258,572 IFF RSU awards and 5,816 IFF SAR awards. For converted RSU awards, the fair value of the equity award is based on the Closing Date market price of IFF stock. For converted stock options and SAR awards, the exercise price per share of the converted award is equal to the exercise price per share of the N&B award immediately prior to the Merger divided by the exchange ratio. The fair value of the IFF stock options and SAR awards that the Company issued in connection with the Merger was estimated using the Black Scholes model. The awards were generally issued with the same terms and conditions as were applicable prior to the Transaction. At the Closing Date, approximately $25 million of the fair value of the replacement awards granted to N&B employees was attributable to pre-combination service and was included in the purchase price. As of March 31, 2021, post-combination expense of approximately $9 million is expected to be recognized related to the replacement awards over the remaining post-combination service period, approximately up to three years.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration