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v3.25.3

Revision of Previously Issued Financial Statements (Tables) | 9 Months Ended
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Sep. 30, 2025
Accounting Changes and Error Corrections [Abstract] |
Schedule of Error Corrections and Prior Period Adjustments | The following tables reflect the impact of the revision to the specific line items presented in our previously reported financial information for the periods impacted by the revision. The Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) and the Consolidated Statements of Cash Flows for the three months ended March 31, 2025 are not presented as the period was not impacted by the revision. Impacts to Consolidated Statements of Income (Loss) and Comprehensive Income (Loss)
| Year Ended December 31, 2024 |  | Year Ended December 31, 2023
(DOLLARS IN MILLIONS EXCEPT PER SHARE AMOUNTS) | As Reported | Adjustments | As Revised |  | As Reported | Adjustments | As Revised
Loss on assets classified as held for sale | $ | 347 |  | $ | (30) |  | $ | 317 |  |  | $ | — |  | $ | — |  | $ | — |
Income (loss) before income taxes | 278 |  | 30 |  | 308 |  |  | (2,518) |  | — |  | (2,518) |
Provision for income taxes | 31 |  | 10 |  | 41 |  |  | 45 |  | 24 |  | 69 |
Net income (loss) | 247 |  | 20 |  | 267 |  |  | (2,563) |  | (24) |  | (2,587) |
Net income (loss) attributable to IFF shareholders | 243 |  | 20 |  | 263 |  |  | (2,567) |  | (24) |  | (2,591) |
Net income (loss) per share - basic | $ | 0.95 |  | $ | 0.09 |  | $ | 1.04 |  |  | $ | (10.05) |  | $ | (0.09) |  | $ | (10.14) |
Net income (loss) per share - diluted | $ | 0.95 |  | $ | 0.09 |  | $ | 1.04 |  |  | $ | (10.05) |  | $ | (0.09) |  | $ | (10.14) |
Comprehensive income (loss) | (384) |  | 20 |  | (364) |  |  | (2,261) |  | (24) |  | (2,285) |
Comprehensive income (loss) attributable to IFF shareholders | $ | (388) |  | $ | 20 |  | $ | (368) |  |  | $ | (2,265) |  | $ | (24) |  | $ | (2,289) |
| Six Months Ended June 30, 2025 |  | Three Months Ended June 30, 2025
(DOLLARS IN MILLIONS EXCEPT PER SHARE AMOUNTS) | As Reported | Adjustments | As Revised |  | As Reported | Adjustments | As Revised
Loss on Business Disposals | $ | 81 |  | $ | 30 |  | $ | 111 |  |  | $ | 81 |  | $ | 30 |  | $ | 111 |
Income (loss) before income taxes | (460) |  | (30) |  | (490) |  |  | 534 |  | (30) |  | 504 |
(Benefit) for income taxes | (55) |  | (4) |  | (59) |  |  | (78) |  | (4) |  | (82) |
Net income (loss) | (405) |  | (26) |  | (431) |  |  | 612 |  | (26) |  | 586 |
Net income (loss) attributable to IFF shareholders | (406) |  | (26) |  | (432) |  |  | 612 |  | (26) |  | 586 |
Net income (loss) per share - basic | $ | (1.59) |  | $ | (0.10) |  | $ | (1.69) |  |  | $ | 2.39 |  | $ | (0.10) |  | $ | 2.29 |
Net income (loss) per share - diluted | $ | (1.59) |  | $ | (0.10) |  | $ | (1.69) |  |  | $ | 2.38 |  | $ | (0.10) |  | $ | 2.28 |
Comprehensive income (loss) | 707 |  | (26) |  | 681 |  |  | 1,320 |  | (26) |  | 1,294 |
Comprehensive income (loss) attributable to IFF shareholders | $ | 706 |  | $ | (26) |  | $ | 680 |  |  | $ | 1,320 |  | $ | (26) |  | $ | 1,294 |
| Three Months Ended December 31, 2024 |  | Nine Months Ended September 30, 2024
(DOLLARS IN MILLIONS EXCEPT PER SHARE AMOUNTS) | As Reported | Adjustments | As Revised |  | As Reported | Adjustments | As Revised
Loss on assets classified as held for sale | $ | 33 |  | $ | — |  | $ | 33 |  |  | $ | 314 |  | $ | (30) |  | $ | 284 |
Income (loss) before income taxes | (115) |  | — |  | (115) |  |  | 393 |  | 30 |  | 423 |
Provision (benefit) for income taxes | (69) |  | 14 |  | (55) |  |  | 100 |  | (4) |  | 96 |
Net income (loss) | (46) |  | (14) |  | (60) |  |  | 293 |  | 34 |  | 327 |
Net income (loss) attributable to IFF shareholders | (46) |  | (14) |  | (60) |  |  | 289 |  | 34 |  | 323 |
Net income (loss) per share - basic | $ | (0.18) |  | $ | (0.05) |  | $ | (0.23) |  |  | $ | 1.13 |  | $ | 0.14 |  | $ | 1.27 |
Net income (loss) per share - diluted | $ | (0.18) |  | $ | (0.05) |  | $ | (0.23) |  |  | $ | 1.13 |  | $ | 0.14 |  | $ | 1.27 |
Comprehensive income (loss) | (813) |  | (14) |  | (827) |  |  | 429 |  | 34 |  | 463 |
Comprehensive income (loss) attributable to IFF shareholders | $ | (813) |  | $ | (14) |  | $ | (827) |  |  | $ | 425 |  | $ | 34 |  | $ | 459 |
| Three Months Ended September 30, 2024 |  | Six Months Ended June 30, 2024
(DOLLARS IN MILLIONS EXCEPT PER SHARE AMOUNTS) | As Reported | Adjustments | As Revised |  | As Reported | Adjustments | As Revised
Loss on assets classified as held for sale | $ | 32 |  | $ | — |  | $ | 32 |  |  | $ | 282 |  | $ | (30) |  | $ | 252 |
Income (loss) before income taxes | 95 |  | — |  | 95 |  |  | 298 |  | 30 |  | 328 |
Provision (benefit) for income taxes | 35 |  | 1 |  | 36 |  |  | 65 |  | (5) |  | 60 |
Net income (loss) | 60 |  | (1) |  | 59 |  |  | 233 |  | 35 |  | 268 |
Net income (loss) attributable to IFF shareholders | 59 |  | (1) |  | 58 |  |  | 230 |  | 35 |  | 265 |
Net income (loss) per share - basic | $ | 0.23 |  | $ | — |  | $ | 0.23 |  |  | $ | 0.90 |  | $ | 0.14 |  | $ | 1.04 |
Net income (loss) per share - diluted | $ | 0.23 |  | $ | — |  | $ | 0.23 |  |  | $ | 0.90 |  | $ | 0.14 |  | $ | 1.04 |
Comprehensive income (loss) | 615 |  | (1) |  | 614 |  |  | (186) |  | 35 |  | (151) |
Comprehensive income (loss) attributable to IFF shareholders | $ | 614 |  | $ | (1) |  | $ | 613 |  |  | $ | (189) |  | $ | 35 |  | $ | (154) |
| Three Months Ended June 30, 2024 |  | Three Months Ended March 31, 2024
(DOLLARS IN MILLIONS EXCEPT PER SHARE AMOUNTS) | As Reported | Adjustments | As Revised |  | As Reported | Adjustments | As Revised
Loss on assets classified as held for sale | $ | 282 |  | $ | (30) |  | $ | 252 |  |  | $ | — |  | $ | — |  | $ | — |
Income (loss) before income taxes | 183 |  | 30 |  | 213 |  |  | 115 |  | — |  | 115 |
Provision (benefit) for income taxes | 11 |  | 6 |  | 17 |  |  | 54 |  | (11) |  | 43 |
Net income (loss) | 172 |  | 24 |  | 196 |  |  | 61 |  | 11 |  | 72 |
Net income (loss) attributable to IFF shareholders | 170 |  | 24 |  | 194 |  |  | 60 |  | 11 |  | 71 |
Net income (loss) per share - basic | $ | 0.67 |  | $ | 0.09 |  | $ | 0.76 |  |  | $ | 0.23 |  | $ | 0.05 |  | $ | 0.28 |
Net income (loss) per share - diluted | $ | 0.66 |  | $ | 0.10 |  | $ | 0.76 |  |  | $ | 0.23 |  | $ | 0.05 |  | $ | 0.28 |
Comprehensive income (loss) | 48 |  | 24 |  | 72 |  |  | (234) |  | 11 |  | (223) |
Comprehensive income (loss) attributable to IFF shareholders | $ | 46 |  | $ | 24 |  | $ | 70 |  |  | $ | (235) |  | $ | 11 |  | $ | (224) |
Impacts to Consolidated Balance Sheets
| December 31, 2024 |  | December 31, 2023
(DOLLARS IN MILLIONS) | As Reported | Adjustments | As Revised |  | As Reported | Adjustments | As Revised
Assets held for sale | $ | 3,030 |  | $ | 26 |  | $ | 3,056 |  |  | $ | 506 |  | $ | — |  | $ | 506 |
Prepaid expenses and other current assets | 737 |  | (51) |  | 686 |  |  | 875 |  | (8) |  | 867 |
Total Current Assets | 7,993 |  | (25) |  | 7,968 |  |  | 6,293 |  | (8) |  | 6,285 |
Goodwill | 9,080 |  | (5) |  | 9,075 |  |  | 10,635 |  | (9) |  | 10,626 |
Operating lease right-of-use assets | 573 |  | 16 |  | 589 |  |  | 689 |  | — |  | 689 |
Other Assets | 837 |  | 70 |  | 907 |  |  | 764 |  | 50 |  | 814 |
Total Assets | 28,667 |  | 56 |  | 28,723 |  |  | 30,978 |  | 33 |  | 31,011 |
Other current liabilities | 783 |  | 19 |  | 802 |  |  | 977 |  | 11 |  | 988 |
Total Current Liabilities | 4,333 |  | 19 |  | 4,352 |  |  | 3,758 |  | 11 |  | 3,769 |
Deferred income taxes | 1,592 |  | 2 |  | 1,594 |  |  | 1,937 |  | (7) |  | 1,930 |
Operating lease liabilities | 534 |  | 16 |  | 550 |  |  | 642 |  | — |  | 642 |
Other Liabilities | 566 |  | 61 |  | 627 |  |  | 560 |  | 91 |  | 651 |
Total Other Liabilities | 10,423 |  | 79 |  | 10,502 |  |  | 12,578 |  | 84 |  | 12,662 |
Accumulated deficit | (2,605) |  | (42) |  | (2,647) |  |  | (2,439) |  | (62) |  | (2,501) |
Total Shareholders’ Equity | 13,876 |  | (42) |  | 13,834 |  |  | 14,611 |  | (62) |  | 14,549 |
Total Shareholders’ Equity including Non-controlling interests | 13,911 |  | (42) |  | 13,869 |  |  | 14,642 |  | (62) |  | 14,580 |
Total Liabilities and Shareholders’ Equity | $ | 28,667 |  | $ | 56 |  | $ | 28,723 |  |  | $ | 30,978 |  | $ | 33 |  | $ | 31,011 |
Impacts to Consolidated Statements of Shareholders’ Equity
| As Reported |  | Adjustments |  | As Revised
(DOLLARS IN MILLIONS) | Retained Earnings (Accumulated Deficit) | Total |  | Retained Earnings (Accumulated Deficit) |  | Retained Earnings (Accumulated Deficit) | Total
Balance at January 1, 2023 | $ | 955 |  | $ | 17,685 |  |  | $ | (38) |  |  | $ | 917 |  | $ | 17,647 |
Net income (loss) | (2,567) |  | (2,563) |  |  | (24) |  |  | (2,591) |  | (2,587) |
Balance at December 31, 2023 | (2,439) |  | 14,642 |  |  | (62) |  |  | (2,501) |  | 14,580 |
Balance at January 1, 2024 | (2,439) |  | 14,642 |  |  | (62) |  |  | (2,501) |  | 14,580 |
Net income (loss) | 243 |  | 247 |  |  | 20 |  |  | 263 |  | 267 |
Balance at December 31, 2024 | $ | (2,605) |  | $ | 13,911 |  |  | $ | (42) |  |  | $ | (2,647) |  | $ | 13,869 |
The Company’s Consolidated Statements of Shareholders’ Equity for the interim periods were also affected by the revised retained earnings (accumulated deficit) amounts for the periods presented above. Impacts to Consolidated Statements of Cash Flows

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- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-7 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-8 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-9 + Details
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