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CONSOLIDATED STATEMENT OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Income Statement [Abstract]        
Net sales $ 3,089 $ 1,199 $ 5,554 $ 2,546
Cost of goods sold 2,179 717 3,890 1,498
Gross profit 910 482 1,664 1,048
Research and development expenses 164 81 307 167
Selling and administrative expenses 412 230 863 460
Amortization of acquisition-related intangibles 200 49 352 97
Restructuring and other charges 24 2 28 7
Losses on sales of fixed assets 0 0 0 1
Operating profit 110 120 114 316
Interest expense 77 32 142 64
Other income, net (11) (16) (18) (5)
Income (loss) before taxes 44 104 (10) 257
Provision for income taxes 14 16 0 42
Net income (loss) 30 88 (10) 215
Net income attributable to noncontrolling interests 2 1 4 4
Net income (loss) attributable to IFF stockholders 28 87 (14) 211
Other comprehensive income (loss), net, after tax:        
Foreign currency translation adjustments 263 147 (154) (305)
Gains (losses) on derivatives qualifying as hedges 2 (3) 6 (2)
Pension and postretirement net liability 3 3 12 7
Net current period other comprehensive income (loss) 268 147 (136) (300)
Comprehensive income (loss) attributable to IFF stockholders $ 296 $ 234 $ (150) $ (89)
Net income per share - basic (in dollars per share) $ 0.11 $ 0.75 $ (0.06) $ 1.91
Net income per share - diluted (in dollars per share) $ 0.11 $ 0.74 $ (0.06) $ 1.89
Average number of shares outstanding - basic (in shares) 254 112 230 112
Average number of shares outstanding - diluted (in shares) 255 114 230 114