XML 172 R32.htm IDEA: XBRL DOCUMENT
v3.26.1

Segment Information (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2026
Segment Reporting [Abstract] |
Reportable Segment Information | Reportable segment information was as follows:
| Three Months Ended March 31, 2026
| Taste |  | Food Ingredients |  | Health & Biosciences |  | Scent |  |  |  | Total
Net sales | $ | 656 |  |  | $ | 839 |  |  | $ | 595 |  |  | $ | 651 |  |  |  |  | $ | 2,741 |
Cost of sales | (375) |  |  | (646) |  |  | (327) |  |  | (375) |  |  |  |  |
Research & development expenses | (43) |  |  | (14) |  |  | (55) |  |  | (54) |  |  |  |  |
Selling & administrative expenses | (101) |  |  | (99) |  |  | (92) |  |  | (92) |  |  |  |  |
Depreciation expense add-back (a) | 16 |  |  | 34 |  |  | 32 |  |  | 18 |  |  |  |  |
Adjusted Operating EBITDA | $ | 153 |  |  | $ | 114 |  |  | $ | 153 |  |  | $ | 148 |  |  |  |  | $ | 568 |
Reconciliation of Adjusted Operating EBITDA: |
Total Adjusted Operating EBITDA | $ | 568 |
Depreciation & Amortization | (246) |
Interest Expense | (44) |
Other Expense, net (b) | (13) |
Restructuring and Other Charges (c) | (6) |
Losses on Business Disposals (e) | (7) |
Divestiture Costs (f) | (24) |
Strategic Initiative Costs (g) | (9) |
Regulatory Costs (h) | (10) |
Income Before Taxes | $ | 209 |
| Three Months Ended March 31, 2025
| Taste |  | Food Ingredients |  | Health & Biosciences |  | Scent |  | Pharma Solutions |  | Total
Net sales | $ | 627 |  |  | $ | 796 |  |  | $ | 540 |  |  | $ | 614 |  |  | $ | 266 |  |  | $ | 2,843 |
Cost of sales | (377) |  |  | (609) |  |  | (298) |  |  | (344) |  |  | (180) |  |  |
Research & development expenses | (40) |  |  | (12) |  |  | (52) |  |  | (55) |  |  | (5) |  |  |
Selling & administrative expenses | (94) |  |  | (92) |  |  | (81) |  |  | (86) |  |  | (32) |  |  |
Depreciation expense add-back (a) | 15 |  |  | 28 |  |  | 29 |  |  | 15 |  |  | 5 |  |  |
Adjusted Operating EBITDA | $ | 131 |  |  | $ | 111 |  |  | $ | 138 |  |  | $ | 144 |  |  | $ | 54 |  |  | $ | 578 |
Reconciliation of Adjusted Operating EBITDA: |
Total Adjusted Operating EBITDA | $ | 578 |
Depreciation & Amortization | (236) |
Interest Expense | (71) |
Other Expense, net (b) | (20) |
Restructuring and Other Charges (c) | (17) |
Impairment of Goodwill (d) | (1,153) |
Divestiture Costs (f) | (51) |
Strategic Initiatives Costs (g) | (8) |
Regulatory Costs (h) | (11) |
Other (i) | (5) |
Loss Before Taxes | $ | (994) |
_______________________
(a) | There is depreciation recorded within cost of sales, research & development expenses, and selling & administrative expenses, which is then added back to calculate segment Adjusted Operating EBITDA. This reflects how the CODM reviews Segment results. |  |  |  |  |  |  |  |
(b) | Please refer to Note 8 for additional information. |  |  |  |  |  |  |  |
(c) | Represents costs related to severance as part of the IFF Productivity Program. |  |  |  |  |  |  |  |
(d) | For 2025, represents the impairment of goodwill related to the Food Ingredients reporting unit. |  |  |  |  |  |  |  |
(e) | For 2026, primarily represents losses recognized as part of the divestiture of the Soy, Concentrates and Lecithin disposal group. |  |  |  |  |  |  |  |
(f) | For 2026 and 2025, primarily represents costs related to the Company’s completed and anticipated divestitures. These costs primarily consisted of external consulting fees, professional and legal fees and salaries of individuals who are fully dedicated to such efforts. |  |  |  |  |  |  |  |
(g) | Represents costs related to the Company’s strategic assessment and business portfolio optimization efforts and reorganizing the Global Business Services (GBS) Centers. In 2026, the GBS reorganization has been expanded to include additional functions such as customer service, supply chain and logistics in addition to human resources, accounting and finance, as well as additional efforts to automate processes and expand the use of artificial intelligence (AI) for these functions. These costs primarily consisted of external consulting fees and salaries of individuals who are fully dedicated to such efforts. Costs to develop software and AI are only included to the extent that they do not qualify for capitalization. |  |  |  |  |  |  |  |
(h) | Represents costs primarily related to legal fees incurred and provisions recognized for the ongoing investigations of the fragrance businesses. |  |  |  |  |  |  |  |
(i) | For 2025, represents the net impact of costs related to severance, including accelerated stock compensation expense, for certain executives who have separated from the Company, in addition to consulting costs related to the Company’s implementation of a phased restructuring initiative aimed at optimizing its legal entity framework. |  |  |  |  |  |  |  |
Segment capital expenditures consisted as follows:
| Three Months Ended March 31,
(DOLLARS IN MILLIONS) | 2026 |  | 2025
Taste | $ | 24 |  |  | $ | 27 |
Food Ingredients | 50 |  |  | 60 |
Health & Biosciences | 55 |  |  | 40 |
Scent | 36 |  |  | 24 |
Pharma Solutions | — |  |  | 28 |
Consolidated | $ | 165 |  |  | $ | 179 |
Net Sales by Destination of Product Delivery | Net sales, which are attributed to individual regions based upon the destination of product delivery, were as follows:
| Three Months Ended March 31, |  |
(DOLLARS IN MILLIONS) | 2026 |  | 2025 |  |  |  |
Europe, Africa and Middle East | $ | 949 |  |  | $ | 952 |  |  |  |  |
Greater Asia | 656 |  |  | 670 |  |  |  |  |
North America | 788 |  |  | 868 |  |  |  |  |
Latin America | 348 |  |  | 353 |  |  |  |  |
Consolidated | $ | 2,741 |  |  | $ | 2,843 |  |  |  |  |
| Three Months Ended March 31, |  |
(DOLLARS IN MILLIONS) | 2026 |  | 2025 |  |  |  |
Net sales related to the U.S. | $ | 741 |  |  | $ | 801 |  |  |  |  |
Net sales attributed to all foreign countries | 2,000 |  |  | 2,042 |  |  |  |  |

X
- Definition Tabular disclosure of revenue attributed to and long-lived asset located in country of domicile and foreign country from which revenue is derived and in which asset is held, if it is not provided as part of reportable segment information. Long-lived asset excludes financial instrument, long-term customer relationship of financial institution, mortgage and other servicing rights, deferred policy acquisition cost, and deferred tax asset. Includes, but is not limited to, subtotal of geographical information about group of countries. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26A Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration