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Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Reportable Segment Information

The following tables show the Company’s reportable segment information for the years ended December 31, 2024, 2023 and 2022:

			December 31, 2024
			Nourish						H&B						Scent						Pharma						Total
Net sales			$	5,871					$	2,212					$	2,440					$	961					$	11,484
Cost of sales			(4,147)						(1,182)						(1,359)						(654)
Research & development expenses			(220)						(188)						(218)						(24)
Selling & administrative expenses			(878)						(302)						(412)						(99)
Depreciation expense add-back (a)			198						114						67						25
Adjusted Operating EBITDA			$	824					$	654					$	518					$	209					$	2,205

Reconciliation of Adjusted Operating EBITDA:
Nourish			$	824
Health & Biosciences			654
Scent			518
Pharma Solutions			209
Total			$	2,205
Depreciation & Amortization			(1,015)
Interest Expense			(305)
Other (Expense) Income, net (b)			(182)
Restructuring and Other Charges (c)			(29)
Impairment of Goodwill (d)			(64)
Gains (Losses) on Business Disposals (f)			346
Loss on Assets Classified as Held for Sale (g)			(347)
Acquisition, Divestiture and Integration Costs (h)			(228)
Strategic Initiatives Costs (i)			(33)
Regulatory Costs (j)			(73)
Other (k)			3
Income (Loss) Before Taxes			$	278

			December 31, 2023
			Nourish						H&B						Scent						Pharma						Total
Net sales			$	6,060					$	2,081					$	2,393					$	945					$	11,479
Cost of sales			(4,517)						(1,170)						(1,400)						(698)
Research & development expenses			(216)						(170)						(202)						(24)
Selling & administrative expenses			(822)						(266)						(390)						(86)
Depreciation expense add-back (a)			227						113						60						62
Adjusted Operating EBITDA			$	732					$	588					$	461					$	199					$	1,980

Reconciliation of Adjusted Operating EBITDA:
Nourish			$	732
Health & Biosciences			588
Scent			461
Pharma Solutions			199
Total			$	1,980
Depreciation & Amortization			(1,142)
Interest Expense			(380)
Other (Expense) Income, net (b)			(5)
Restructuring and Other Charges (c)			(68)
Impairment of Goodwill (d)			(2,623)
Gains (Losses) on Business Disposals (f)			(23)
Acquisition, Divestiture and Integration Costs (h)			(174)
Strategic Initiatives Costs (i)			(31)
Regulatory Costs (j)			(50)
Other (k)			(2)
Income (Loss) Before Taxes			$	(2,518)

			December 31, 2022
			Nourish						H&B						Scent						Pharma						Total
Net sales			$	6,829					$	2,339					$	2,301					$	971					$	12,440
Cost of sales			(4,827)						(1,361)						(1,390)						(701)
Research & development expenses			(211)						(166)						(189)						(23)
Selling & administrative expenses			(853)						(282)						(353)						(81)
Depreciation expense add-back (a)			238						104						54						56
Adjusted Operating EBITDA			$	1,176					$	634					$	423					$	222					$	2,455

Reconciliation of Adjusted Operating EBITDA:
Nourish			$	1,176
Health & Biosciences			634
Scent			423
Pharma Solutions			222
Total			$	2,455
Depreciation & Amortization			(1,179)
Interest Expense			(336)
Other (Expense) Income, net (b)			26
Restructuring and Other Charges (c)			(12)
Impairment of Goodwill (d)			(2,250)
Impairment of Long-Lived Assets (e)			(120)
Gains (Losses) on Business Disposals (f)			11
Acquisition, Divestiture and Integration Costs (h)			(201)
Strategic Initiatives Costs (i)			(8)
Other (k)			(11)
Income (Loss) Before Taxes			$	(1,625)

 _______________________ 

a			There is depreciation recorded within Cost of sales and Research, selling & administrative expenses, so there is an add-back of depreciation to calculate segment Adjusted Operating EBITDA. This reflects how the CODM reviews Segment results.
b			For 2024, the amount includes a settlement loss of $130 million that was recognized upon termination of the International Flavors & Fragrances Inc. Pension Plan. See Note 8 for additional information on the settlement loss and Note 9 for additional information on Other (Expense) Income.
c			For 2024, represents costs primarily related to the IFF Productivity Program. For 2023 and 2022, represents costs primarily related to severance as part of the Company’s restructuring efforts.
d			For 2024, represents costs related to the impairment of goodwill related to the Pharma Solutions disposal group. For 2023, represents costs related to the impairment of goodwill in the Nourish reporting unit. For 2022, represents costs related to the impairment of goodwill in the Health & Biosciences reporting unit.
e			For 2022, represents costs related to the impairment of intangible and fixed assets of an asset group that operated primarily in Russia.
f			For 2024, primarily represents gains recognized as part of the sale of the Cosmetic Ingredients business and losses recognized as part of the sale of the F&E UK business. For 2023, primarily represents losses recognized as part of the sale of the Flavors Specialty Ingredients business, the sale of a portion of the Savory Solutions business, and liquidation of a business in Russia for the sale of the portion of the Savory Solutions business. For 2022, represents gains recognized as part of the sale of the Microbial Control business.
g			For 2024, represents the losses recognized on assets classified as held for sale of the Pharma Solutions disposal group and portion of the Savory Solutions business in Turkey.
h			For 2024, 2023 and 2022, primarily represents costs related to the Company's actual and planned acquisitions and divestitures and integration 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, business divestiture and integration costs were approximately $223 million and $5 million, respectively. For 2023, business divestiture, integration and acquisition related costs were approximately $108 million, $59 million and $7 million, respectively. For 2022, business divestiture, integration and acquisition related costs were approximately $110 million, $94 million and credit of $(3) million, respectively.

i			Represents costs related to the Company’s strategic assessment and business portfolio optimization efforts and reorganizing the Global Shared Services Centers, primarily consulting fees, and strategic initiatives related to the Company’s business unit re-organization efforts.
j			Represents costs primarily related to legal fees incurred for the ongoing investigations of the fragrance businesses.
k			For 2024, represents costs related to the Company’s entity realignment project to optimize the structure of holding companies, primarily consulting fees, and gains from sale of assets. For 2023, represents gains from sale of assets, costs related to severance, including accelerated stock compensation expense, for a certain executive who separated from the Company in 2024. For 2022, represents gains from sale of assets, costs related to severance, including accelerated stock compensation expense, for certain employees and executives who have been separated from the Company in 2022.

Segment capital expenditures consisted as follows:

			Capital Expenditures
(DOLLARS IN MILLIONS)			2024						2023						2022
Nourish			$	235					$	252					$	215
Health & Biosciences			73						85						160
Scent			70						62						56
Pharma Solutions			85						104						73
Consolidated			$	463					$	503					$	504

Long-lived Assets by Geographic Areas

Long-lived assets, net, by geographic area, consisted as follows:

			December 31,
(DOLLARS IN MILLIONS)			2024						2023
United States			$	1,326					$	1,742
Foreign Countries			2,413						2,498
Consolidated			$	3,739					$	4,240

Net Sales by Geographic Area

Net sales are attributed to individual regions based upon the destination of product delivery and are as follows:

			Net Sales by Geographic Area
(DOLLARS IN MILLIONS)			2024						2023						2022
Europe, Africa and Middle East			$	3,840					$	3,834					$	4,219
Greater Asia			2,731						2,677						2,876
North America			3,440						3,477						3,853
Latin America			1,473						1,491						1,492
Consolidated			$	11,484					$	11,479					$	12,440

			Net Sales by Geographic Area
(DOLLARS IN MILLIONS)			2024						2023						2022
Net sales related to the U.S.			$	3,219					$	3,185					$	3,611
Net sales attributed to all foreign countries			8,265						8,294						8,829

X

- Definition

Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets.

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