Net Income Per Share (Tables)

12 Months Ended

Dec. 31, 2022

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

Basic and diluted net (loss) income per share is based on the weighted average number of shares outstanding. A reconciliation of shares used in the computation of basic and diluted net (loss) income per share is as follows:


	December 31,
(AMOUNTS IN MILLIONS EXCEPT PER SHARE AMOUNTS)	2022		2021		2020
Net (Loss) Income
Net (loss) income attributable to IFF shareholders	$	(1,871)	$	270	$	363
Adjustment related to (increase) decrease in redemption value of redeemable non-controlling interests in excess of earnings allocated	3		(2)		2
Net (loss) income attributable to IFF shareholders	$	(1,868)	$	268	$	365
Shares
Weighted average common shares outstanding (basic)(1)	255		243		112
Adjustment for assumed dilution(2):
Stock options and restricted stock awards	—		—		1
SPC portion of the TEUs	—		—		1
Weighted average shares assuming dilution (diluted)	255		243		114
Net (Loss) Income per Share
Net (loss) income per share - basic(3)	$	(7.32)	$	1.11	$	3.25
Net (loss) income per share - diluted(4)	(7.32)		1.10		3.21

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(1)On September 15, 2021, additional shares of IFF's common stock were issued in settlement of the SPC portion of the TEUs. For the year ended December 31, 2020, the TEUs were assumed to be outstanding at the minimum settlement amount for basic earnings per share (“EPS”). See below for additional information.

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

(3)For the years ended December 31, 2022, 2021 and 2020, the basic net (loss) income per share cannot be recalculated based on the information presented in the table above due to the effects of rounding.

(4)For the years ended December 31, 2022 and 2020, the diluted net (loss) income per share cannot be recalculated based on the information presented in the table above due to the effects of rounding.