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CONSOLIDATED STATEMENT OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Net sales $ 2,925 $ 2,820 $ 8,713 $ 8,776
Cost of Sales 1,873 1,896 5,569 5,955
Gross profit 1,052 924 3,144 2,821
Research and development expenses 162 157 501 479
Selling and administrative expenses 495 444 1,478 1,343
Amortization of acquisition-related intangibles 146 170 467 513
Impairment of goodwill 0 0 64 0
Restructuring and other charges 1 2 6 61
(Gains) losses on sale of assets 1 (1) 11 1
Operating profit 249 150 639 426
Interest expense 74 90 236 291
(Gains) Losses on business disposals 20 10 (348) 29
Impairment of assets to be disposed of 32 0 314 0
Other expense (income), net 28 (9) 44 (17)
Income before income taxes 95 59 393 123
Provision for income taxes 35 32 100 77
Net income 60 27 293 46
Net income attributable to non-controlling interests 1 2 4 3
Net income attributable to IFF shareholders $ 59 $ 25 $ 289 $ 43
Net income per share - basic (in dollars per share) $ 0.23 $ 0.10 $ 1.13 $ 0.16
Net income per share - diluted (in dollars per share) $ 0.23 $ 0.10 $ 1.13 $ 0.16
Average number of shares outstanding - basic (in shares) 256 255 255 255
Average number of shares outstanding - diluted (in shares) 257 256 256 255
Other comprehensive income (loss), after tax:        
Foreign currency translation adjustments $ 555 $ (476) $ 134 $ (132)
Gains (losses) on derivatives qualifying as hedges; net of tax 1 0 (5) 0
Pension and postretirement liability adjustment (1) (3) 7 (6)
Net current period other comprehensive income (loss) 555 (479) 136 (138)
Comprehensive income (loss) 615 (452) 429 (92)
Comprehensive income attributable to non-controlling interests 1 2 4 3
Comprehensive income (loss) attributable to IFF shareholders $ 614 $ (454) $ 425 $ (95)