Net Income Per Share

12 Months Ended

Dec. 31, 2024

NET INCOME (LOSS) PER SHARE

Basic and diluted net (loss) income per share is based on the weighted average number of shares outstanding. A reconciliation of shares used in the computation of basic and diluted net (loss) income per share is as follows:


	December 31,
(AMOUNTS IN MILLIONS EXCEPT PER SHARE AMOUNTS)	2024		2023		2022
Net Income (Loss)
Net income (loss) attributable to IFF shareholders	$	243	$	(2,567)	$	(1,871)
Adjustment related to decrease (increase) in redemption value of redeemable non-controlling interests in excess of earnings allocated	—		2		3
Net income (loss) available to IFF shareholders	$	243	$	(2,565)	$	(1,868)
Shares
Weighted average common shares outstanding (basic and diluted)	256		255		255




Net Income (Loss) per Share
Net income (loss) per share - basic and diluted(1)	$	0.95	$	(10.05)	$	(7.32)

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(1)For the years ended December 31, 2023 and 2022, the basic and diluted net income (loss) per share cannot be recalculated based on the information presented in the table above due to the effects of rounding.

The Company has issued shares of Purchased Restricted Stock Units (“PRSUs”) which contain non-forfeitable rights to dividends and thus are considered participating securities which are required to be included in the computation of basic and diluted earnings per share pursuant to the two-class method.

The Company did not present the two-class method since the difference between basic net income per share for both unrestricted common shareholders and PRSU shareholders for the years ended December 31, 2024, 2023 and 2022 was less than $0.01 per share.

There were approximately 0.2 million and 0.3 million potentially dilutive securities excluded from the computation of diluted net loss per share for the years ended December 31, 2023 and 2022, respectively, because there was a net loss attributable to IFF for the periods and, as such, the inclusion of these securities would have been anti-dilutive.

For the years ended December 31, 2024, 2023 and 2022, there were approximately 0.3 million, 0.4 million and 0.3 million of share equivalents, respectively, that had an anti-dilutive effect and therefore were excluded from the computation of diluted net income (loss) per share.