XML 23 R13.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Segment Information | 6 Months Ended
--- | ---
Jun. 30, 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 |  | Six Months Ended
| June 30, |  | June 30,
(DOLLARS IN MILLIONS) | 2024 |  | 2023 |  | 2024 |  | 2023
Net sales: |  |  |  |  |  |  |
Nourish | $ | 1,478 |  |  | $ | 1,564 |  |  | $ | 2,974 |  |  | $ | 3,217 |
Health & Biosciences | 558 |  |  | 522 |  |  | 1,089 |  |  | 1,035 |
Scent | 603 |  |  | 592 |  |  | 1,248 |  |  | 1,200 |
Pharma Solutions | 250 |  |  | 251 |  |  | 477 |  |  | 504 |
Consolidated | $ | 2,889 |  |  | $ | 2,929 |  |  | $ | 5,788 |  |  | $ | 5,956 |
Segment Adjusted Operating EBITDA: |  |  |  |  |  |  |
Nourish | $ | 232 |  |  | $ | 181 |  |  | $ | 448 |  |  | $ | 389 |
Health & Biosciences | 165 |  |  | 145 |  |  | 324 |  |  | 276 |
Scent | 137 |  |  | 117 |  |  | 294 |  |  | 222 |
Pharma Solutions | 54 |  |  | 67 |  |  | 100 |  |  | 126 |
Total | 588 |  |  | 510 |  |  | 1,166 |  |  | 1,013 |
Depreciation & Amortization | (246) |  |  | (287) |  |  | (524) |  |  | (563) |
Interest Expense | (79) |  |  | (101) |  |  | (162) |  |  | (201) |
Other (Expense) Income, net | (15) |  |  | 11 |  |  | (16) |  |  | 8 |
Restructuring and Other Charges (a) | (2) |  |  | (7) |  |  | (5) |  |  | (59) |
Impairment of Goodwill b) | (64) |  |  | — |  |  | (64) |  |  | — |
Gains (Losses) on Business Disposals c) | 368 |  |  | (5) |  |  | 368 |  |  | (19) |
Loss on Assets Classified as Held for Sale d) | (282) |  |  | — |  |  | (282) |  |  | — |
Acquisition, Divestiture and Integration Costs e) | (59) |  |  | (45) |  |  | (117) |  |  | (76) |
Strategic Initiatives Costs f) | (12) |  |  | (9) |  |  | (16) |  |  | (22) |
Regulatory Costs g) | (19) |  |  | (14) |  |  | (54) |  |  | (19) |
Other h) | 5 |  |  | (3) |  |  | 4 |  |  | 2 |
Income Before Taxes | $ | 183 |  |  | $ | 50 |  |  | $ | 298 |  |  | $ | 64 |
_______________________
(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) | Represents costs related to the impairment of goodwill related to the Pharma Solutions disposal group. |
c) | For 2024, primarily represents gains recognized as part of the sale of the Cosmetic Ingredients business. For 2023, primarily represents losses recognized as part of the sale of a portion of the Savory Solutions business. |
d) | Represents the loss recognized on assets classified as held for sale of the Pharma Solutions disposal group. |
e) | 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 the three months ended June 30, 2024, business divestiture and integration related costs were approximately $56 million and $3 million, respectively. For the three months ended June 30, 2023, business divestiture, integration and acquisition related costs were approximately $20 million, $20 million and $5 million, respectively. For the six months ended June 30, 2024, business divestiture and integration related costs were approximately $112 million and $5 million, respectively. For the six months ended June 30, 2023, business divestiture, integration and acquisition related costs were approximately $41 million, $30 million, and $5 million, respectively. |
f) | Represents costs related to the Company's strategic assessment and business portfolio optimization efforts and reorganizing the Global Business Services Centers, primarily consulting fees. |
g) | Represents costs primarily related to legal fees incurred and provisions recognized for the ongoing investigations of the fragrance businesses. |
h) | Represents gains (losses) from sale of assets, executive employee separation costs and costs related to the Company's entity realignment project to optimize the structure of holding companies, primarily consulting fees. |
Net sales, which are attributed to individual regions based upon the destination of product delivery, were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(DOLLARS IN MILLIONS) | 2024 |  | 2023 |  | 2024 |  | 2023
Europe, Africa and Middle East | $ | 972 |  |  | $ | 970 |  |  | $ | 1,949 |  |  | $ | 2,040 |
Greater Asia | 681 |  |  | 673 |  |  | 1,363 |  |  | 1,361 |
North America | 876 |  |  | 910 |  |  | 1,742 |  |  | 1,815 |
Latin America | 360 |  |  | 376 |  |  | 734 |  |  | 740 |
Consolidated | $ | 2,889 |  |  | $ | 2,929 |  |  | $ | 5,788 |  |  | $ | 5,956 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
(DOLLARS IN MILLIONS) | 2024 |  | 2023 |  | 2024 |  | 2023
Net sales related to the U.S. | $ | 822 |  |  | $ | 777 |  |  | $ | 1,633 |  |  | $ | 1,648 |
Net sales attributed to all foreign countries | 2,067 |  |  | 2,152 |  |  | 4,155 |  |  | 4,308 |
No non-U.S. country had net sales greater than 10% of total consolidated net sales for each of the three and six months ended June 30, 2024 and 2023.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: 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 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -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 6: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 9: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 10: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 12: 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 13: 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 14: 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 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 17: 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 18: 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 19: 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 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 21: 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 22: 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 23: 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 24: 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 25: 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
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration