XML 56 R44.htm IDEA: XBRL DOCUMENT v3.22.4

Segment Information (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Reportable Segment Information

Reportable segment information is as follows:

			December 31,
(DOLLARS IN MILLIONS)			2022						2021						2020
Net sales
Nourish			$	6,829					$	6,264					$	2,886
Health & Biosciences			2,339						2,329						134
Scent			2,301						2,254						2,064
Pharma Solutions			971						809						—
Consolidated			$	12,440					$	11,656					$	5,084

			December 31,
(DOLLARS IN MILLIONS)			2022						2021
Segment assets
Nourish			$	17,008					$	17,449
Health & Biosciences			10,877						14,774
Scent			4,310						4,078
Pharma Solutions			3,212						3,357
Consolidated			$	35,407					$	39,658

			December 31,
(DOLLARS IN MILLIONS)			2022						2021						2020
Segment Adjusted Operating EBITDA:
Nourish			$	1,176					$	1,172					$	599
Health & Biosciences			634						625						40
Scent			423						463						416
Pharma Solutions			222						165						—
Total			2,455						2,425						1,055
Depreciation & Amortization			(1,179)						(1,156)						(325)
Interest Expense			(336)						(289)						(132)
Other Income, net			37						58						7
Acquisition Related Costs (a)			4						—						—
Restructuring and Other Charges			(12)						(41)						(17)
Gains (Losses) on Sale of Fixed Assets			3						1						(4)
Impairment of Goodwill (b)			(2,250)						—						—
Impairment of Long-Lived Assets (c)			(120)						—						—
Shareholder Activism Related Costs (d)			(3)						(7)						—
Business Divestiture Costs (e)			(110)						(42)						—
Employee Separation Costs (f)			(11)						(29)						(3)
Strategic Initiative Costs (g)			(3)						—						—
Global Shared Services Implementation Costs (h)			(5)						—						—
Frutarom Acquisition Related Costs (i)			(1)						(2)						(1)
Compliance Review & Legal Defense Costs (j)			—						—						(3)
N&B Inventory Step-Up Costs			—						(368)						—
N&B Transaction Related Costs (k)			—						(91)						(29)
Integration Related Costs (l)			(94)						(105)						(107)
(Loss) Income Before Taxes			$	(1,625)					$	354					$	441

 _______________________ 

(a)			Represents costs related to the acquisition of Health Wright Products, primarily consulting and legal fees, offset in part by earn out adjustments.
(b)			Represents costs related to the impairment of goodwill in the Health & Biosciences reporting unit.
(c)			Represents costs related to the impairment of intangible and fixed assets of an asset group that operates primarily in Russia.
(d)			Represents shareholder activist related costs, primarily professional fees.
(e)			Represents costs, including establishment of deferred tax liabilities, related to the Company's sales and planned sales of businesses, primarily legal and professional fees.
(f)			Represents costs related to severance, including accelerated stock compensation expense, for certain employees and executives who have been separated or will separate from the Company.
(g)			Represents costs related to the Company's strategic assessment and business portfolio optimization efforts, primarily consulting fees.
(h)			Represents costs related to the Company's efforts of restructuring the Global Shared Services Centers, primarily consulting fees.

(i)			Represents transaction-related costs and expenses related to the acquisition of Frutarom, primarily includes earn-out payments, net of adjustments.
(j)			Costs related to reviewing the nature of inappropriate payments and review of compliance in certain other countries. In addition, includes legal costs for related shareholder lawsuits.
(k)			Represents transaction costs and expenses related to the transaction with N&B, primarily legal and professional fees.
(l)			Represents costs related to integration activities since 2018, primarily for Frutarom and N&B. For 2022, represents costs primarily related to external consulting fees and internal integration costs, including salaries of individuals who are fully dedicated to integration efforts. For 2021 and 2020, represents costs primarily related to performance stock awards and consulting fees for advisory services.

Segment capital expenditures and depreciation and amortization consisted as follows:

			Capital Expenditures																		Depreciation and Amortization
(DOLLARS IN MILLIONS)			2022						2021						2020						2022						2021						2020
Nourish			$	215					$	183					$	98					$	596					$	594					$	211
Health & Biosciences			160						139						7						363						353						36
Scent			56						41						87						81						84						78
Pharma Solutions			73						30						—						139						125						—
Consolidated			$	504					$	393					$	192					$	1,179					$	1,156					$	325

Long-lived Assets by Geographic Areas

Long-lived assets, net, by country, consisted as follows:

			December 31,
(DOLLARS IN MILLIONS)			2022						2021
United States			$	1,771					$	2,041
China			258						259
Denmark			250						251
Finland			212						196
France			187						188
Germany			181						156
Other			1,344						1,277
Consolidated			$	4,203					$	4,368

Net Sales by Geographic Area

Net sales are attributed to individual regions based upon the destination of product delivery and are as follows:

			Net Sales by Geographic Area
(DOLLARS IN MILLIONS)			2022						2021						2020
Europe, Africa and Middle East			$	4,219					$	4,093					$	1,987
Greater Asia			2,876						2,728						1,162
North America			3,853						3,499						1,228
Latin America			1,492						1,336						707
Consolidated			$	12,440					$	11,656					$	5,084

			Net Sales by Geographic Area
(DOLLARS IN MILLIONS)			2022						2021						2020
Net sales related to the U.S.			$	3,611					$	3,211					$	1,093
Net sales attributed to all foreign countries			8,829						8,445						3,991

X

- Definition

Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets.

+ 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 b
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

+ Details

Name:	us-gaap_LongLivedAssetsByGeographicAreasTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

+ Details

Name:	us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration