Net Income Per Share (Tables)

6 Months Ended

Jun. 30, 2021

Reconciliation of Shares Used in Computation of Basic and Diluted Net Income Per Share

A reconciliation of the shares used in the computation of basic and diluted net income (loss) per share is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(AMOUNTS IN MILLIONS EXCEPT PER SHARE AMOUNTS)	2021		2020		2021		2020
Net Income (Loss)
Net income (loss) attributable to IFF stockholders	$	28	$	87	$	(14)	$	211
Adjustment related to (increase) decrease in redemption value of redeemable noncontrolling interests in excess of earnings allocated	1		(2)		—		4
Net income (loss) available to IFF stockholders	$	29	$	85	$	(14)	$	215
Shares
Weighted average common shares outstanding (basic)(1)	254		112		230		112
Adjustment for assumed dilution(2):
Stock options and restricted stock awards	—		1		—		1
SPC portion of TEUs	1		1		—		1
Weighted average shares assuming dilution (diluted)	255		114		230		114

Net Income (Loss) per Share(3)
Net income (loss) per share - basic(4)	$	0.11	$	0.75	$	(0.06)	$	1.91
Net income (loss) per share - diluted(5)	0.11		0.74		(0.06)		1.89

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(1)For the three and six months ended June 30, 2021 and 2020, the tangible equity units (“TEUs”) were assumed to be outstanding at the minimum settlement amount for basic earnings per share. See below for details.

(2)Effect of dilutive securities includes dilution under stock plans and incremental impact of TEUs. See below for details.

(3)Diluted net income (loss) per share attributable to IFF for the six months ended June 30, 2021 excluded approximately one million potentially dilutive securities because there was a net loss attributable to IFF for the period and, as such, the inclusion of these securities would have been anti-dilutive.

(4)For the three and six months ended June 30, 2020, the basic net income per share cannot be recalculated based on the information presented in the table above due to the effects of rounding and change in presentation from thousands to millions between 2020 and 2021, respectively.

(5)For the three months ended June 30, 2020, the diluted net income per share cannot be recalculated based on the information presented in the table above due to the effects of rounding and change in presentation from thousands to millions between 2020 and 2021, respectively.