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Employee Benefits | 3 Months Ended
--- | ---
Mar. 31, 2025
Retirement Benefits [Abstract] |
Employee Benefits | EMPLOYEE BENEFITS Pension and other defined contribution retirement plan expenses included the following components:
(DOLLARS IN MILLIONS) | U.S. Plans(1)
Three Months Ended March 31, |  |
2025 |  | 2024 |  |  |  |
Interest cost on projected benefit obligation(3) | $ | 1 |  |  | $ | 6 |  |  |  |  |
Expected return on plan assets(3) | — |  |  | (6) |  |  |  |  |
Net amortization and deferrals(3) | — |  |  | 1 |  |  |  |  |
Net periodic benefit cost | $ | 1 |  |  | $ | 1 |  |  |  |  |
(DOLLARS IN MILLIONS) | Non-U.S. Plans
Three Months Ended March 31, |  |
2025 |  | 2024 |  |  |  |
Service cost for benefits earned(2) | $ | 5 |  |  | $ | 6 |  |  |  |  |
Interest cost on projected benefit obligation(3) | 9 |  |  | 9 |  |  |  |  |
Expected return on plan assets(3) | (11) |  |  | (13) |  |  |  |  |
Net amortization and deferrals(3) | 1 |  |  | 2 |  |  |  |  |
Net periodic benefit cost | $ | 4 |  |  | $ | 4 |  |  |  |  |
_______________________ (1)The International Flavors & Fragrances Inc. Pension Plan (the “Plan”) was formally terminated on April 1, 2024, and settlements of the terminated Plan occurred during November 2024. The Company continues to administer several smaller non-qualified U.S. pension plans. (2)Included as a component of Operating (loss) profit. (3)Included as a component of Other expense, net. The Company expects to contribute a total of $5 million to its U.S. pension plans and a total of $17 million to its non-U.S. pension plans during 2025. During the three months ended March 31, 2025, $4 million of contributions were made to the non-U.S. pension plans and $1 million of contributions were made with respect to the Company’s non-qualified U.S. pension plan. (Income) expense recognized for post-retirement benefits other than pensions included the following components:
| Three Months Ended March 31, |  |
(DOLLARS IN MILLIONS) | 2025 |  | 2024 |  |  |  |
Interest cost on projected benefit obligation | $ | 1 |  |  | $ | 1 |  |  |  |  |
Net amortization and deferrals | (1) |  |  | (1) |  |  |  |  |
Total postretirement benefit (income) expense | $ | — |  |  | $ | — |  |  |  |  |
The Company expects to make $4 million of payments related to its postretirement benefits other than pension plans during 2025. In the three months ended March 31, 2025, $1 million of benefit payments were made.

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