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Segment Information | 3 Months Ended
--- | ---
Mar. 31, 2024
Segment Reporting [Abstract] |
Segment Information | SEGMENT INFORMATION The Company is organized into four reportable operating segments: Nourish, Health & Biosciences, Scent and Pharma Solutions. Reportable segment information was as follows:
| Three Months Ended |  |
| March 31, |  |
(DOLLARS IN MILLIONS) | 2024 |  | 2023 |  |  |  |
Net sales: |  |  |  |  |  |  |
Nourish | $ | 1,496 |  |  | $ | 1,653 |  |  |  |  |
Health & Biosciences | 531 |  |  | 513 |  |  |  |  |
Scent | 645 |  |  | 608 |  |  |  |  |
Pharma Solutions | 227 |  |  | 253 |  |  |  |  |
Consolidated | $ | 2,899 |  |  | $ | 3,027 |  |  |  |  |
Segment Adjusted Operating EBITDA: |  |  |  |  |  |  |
Nourish | $ | 216 |  |  | $ | 208 |  |  |  |  |
Health & Biosciences | 159 |  |  | 131 |  |  |  |  |
Scent | 157 |  |  | 105 |  |  |  |  |
Pharma Solutions | 46 |  |  | 59 |  |  |  |  |
Total | 578 |  |  | 503 |  |  |  |  |
Depreciation & Amortization | (278) |  |  | (276) |  |  |  |  |
Interest Expense | (83) |  |  | (100) |  |  |  |  |
Other Expense, net | (1) |  |  | (17) |  |  |  |  |
Restructuring and Other Charges (a) | (3) |  |  | (52) |  |  |  |  |
Acquisition, Divestiture and Integration Related Costs (b) | (58) |  |  | (31) |  |  |  |  |
Entity Realignment Costs (c) | (1) |  |  | — |  |  |  |  |
Strategic Initiatives Costs (d) | (4) |  |  | (13) |  |  |  |  |
Regulatory Costs (e) | (35) |  |  | (5) |  |  |  |  |
Other (f) | — |  |  | 5 |  |  |  |  |
Income Before Taxes | $ | 115 |  |  | $ | 14 |  |  |  |  |
_______________________
(a) | For 2024, represents costs related to lease impairment and severance as part of the Company's restructuring efforts. For 2023, represents costs primarily related to severance as part of the Company's restructuring efforts. |
(b) | For 2024 and 2023, primarily represents costs related to the Company's actual and planned acquisitions and divestitures and integration related activities primarily for N&B. These costs primarily consisted of external consulting fees, professional and legal fees and salaries of individuals who are fully dedicated to such efforts. For 2024 and 2023, tax expenses for business divestiture costs included establishments of deferred tax liabilities related to planned sales of businesses. For the three months ended March 31, 2024, business divestiture and integration related costs were approximately $56 million and $2 million, respectively. For the three months ended March 31, 2023, business divestiture and integration related costs were approximately $21 million and $10 million, respectively. |
(c) | Represents costs related to the Company's entity realignment project to optimize the structure of holding companies, primarily consulting fees. |
(d) | Represents costs related to the Company's strategic assessment and business portfolio optimization efforts and reorganizing the Global Business Services Centers, primarily consulting fees. |
(e) | Represents costs primarily related to legal fees incurred and provisions recognized for the ongoing investigations of the fragrance businesses. |
(f) | For 2024, represents the net impact of costs related to severance, including accelerated stock compensation expense, for a certain executive who has separated from the Company and gains from sale of assets. For 2023, represents gains from sale of assets. |
Net sales, which are attributed to individual regions based upon the destination of product delivery, were as follows:
| Three Months Ended March 31, |  |
(DOLLARS IN MILLIONS) | 2024 |  | 2023 |  |  |  |
Europe, Africa and Middle East | $ | 977 |  |  | $ | 1,070 |  |  |  |  |
Greater Asia | 682 |  |  | 688 |  |  |  |  |
North America | 866 |  |  | 905 |  |  |  |  |
Latin America | 374 |  |  | 364 |  |  |  |  |
Consolidated | $ | 2,899 |  |  | $ | 3,027 |  |  |  |  |
| Three Months Ended March 31, |  |
(DOLLARS IN MILLIONS) | 2024 |  | 2023 |  |  |  |
Net sales related to the U.S. | $ | 811 |  |  | $ | 871 |  |  |  |  |
Net sales attributed to all foreign countries | 2,088 |  |  | 2,156 |  |  |  |  |
No non-U.S. country had net sales greater than 10% of total consolidated net sales for each of the three months ended March 31, 2024 and 2023.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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