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CONSOLIDATED STATEMENT OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement [Abstract]        
Net sales $ 2,889 $ 2,929 $ 5,788 $ 5,956
Cost of goods sold 1,821 1,996 3,696 4,059
Gross profit 1,068 933 2,092 1,897
Research and development expenses 173 161 339 322
Selling and administrative expenses 493 445 983 899
Amortization of acquisition-related intangibles 153 172 321 343
Impairment of goodwill 64 0 64 0
Restructuring and other charges 2 7 5 59
(Gains) losses on sale of assets 8 (3) 10 2
Operating profit 191 145 390 276
Interest expense 79 101 162 201
(Gains) Losses on business disposals (368) 5 (368) 19
Impairment of assets to be disposed of   0 282 0
Other expense (income), net 15 (11) 16 (8)
Income before income taxes 183 50 298 64
Provision for income taxes 11 23 65 45
Net income 172 27 233 19
Net income attributable to non-controlling interests 2 0 3 1
Net income attributable to IFF shareholders $ 170 $ 27 $ 230 $ 18
Net income per share - basic (in dollars per share) $ 0.67 $ 0.11 $ 0.90 $ 0.07
Net income per share - diluted (in dollars per share) $ 0.66 $ 0.11 $ 0.90 $ 0.07
Average number of shares outstanding - basic (in shares) 255 255 255 255
Average number of shares outstanding - diluted (in shares) 256 255 256 255
Other comprehensive (loss) income, after tax:        
Foreign currency translation adjustments $ (128) $ 60 $ (421) $ 344
Gains (losses) on derivatives qualifying as hedges; net of tax 1 0 (6) 0
Pension and postretirement liability adjustment 3 (1) 8 (3)
Net current period other comprehensive income (loss) (124) 59 (419) 341
Comprehensive income (loss) 48 86 (186) 360
Comprehensive income attributable to non-controlling interests 2 0 3 1
Comprehensive income (loss) attributable to IFF shareholders $ 46 $ 86 $ (189) $ 359