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BUSINESS DIVESTITURES AND ASSETS AND LIABILITIES HELD FOR SALE | 3 Months Ended
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Mar. 31, 2026
Discontinued Operations and Disposal Groups [Abstract] |
BUSINESS DIVESTITURES AND ASSETS AND LIABILITIES HELD FOR SALE | BUSINESS DIVESTITURES AND ASSETS AND LIABILITIES HELD FOR SALE Divestiture of Soy Crush, Concentrates & Lecithin Business On August 5, 2025, the Company announced it had entered into a definitive agreement to divest its Soy Crush, Concentrates, and Lecithin business (the “SCL disposal group”), which was included in the Food Ingredients segment. This sale aligned with IFF’s strategy to strengthen its portfolio and supports the ongoing evaluation of strategic alternatives for the Food Ingredients segment. The Company completed the divestiture on March 2, 2026, and received cash proceeds of approximately $105 million and recognized a pre-tax loss of approximately $7 million, presented in Losses on business disposals on the Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) for the three months ended March 31, 2026. This is in addition to the life-to-date loss on assets classified as held for sale of $115 million recognized through December 31, 2025. The sale consideration is subject to certain post-closing adjustments in accordance with the transaction agreement. The income tax benefit recognized was approximately $1 million for the three months ended March 31, 2026. This is in addition to approximately $27 million of income tax benefit that was recognized for the year ended December 31, 2025 for a total income tax benefit of $28 million.
(DOLLARS IN MILLIONS) |
Cash proceeds from the buyer | $ | 105 |
Direct costs to sell | (2) |
Fair value of sale consideration | $ | 103 |
The carrying value of net assets associated with the SCL disposal group as of the disposal date was approximately $110 million. The major classes of assets and liabilities sold consisted of the following:
(DOLLARS IN MILLIONS) |  |  | March 2, 2026
Assets |  |  |
Trade receivables, net |  |  | $ | 22 |
Inventories |  |  | 48 |
Property, plant and equipment, net |  |  | 99 |
Other intangible assets, net |  |  | 89 |
Operating lease right-of-use assets |  |  | 7 |
Other assets |  |  | 9 |
Less: Loss recognized on assets held-for-sale |  |  | (115) |
Total assets |  |  | 159 |
Liabilities |  |  |
Accounts payable |  |  | $ | 41 |
Other liabilities |  |  | 8 |
Total liabilities |  |  | 49 |
Carrying value of net assets |  |  | $ | 110 |
Carrying Amount of Assets and Liabilities Held for Sale The Company’s Consolidated Balance Sheet as of December 31, 2025 included the carrying amounts of the assets and liabilities of the SCL disposal group as held for sale. There were no assets or liabilities held for sale as of March 31, 2026.
(DOLLARS IN MILLIONS) |  |  | December 31, 2025
Assets |  |  |
Trade receivables, net |  |  | $ | 25 |
Inventories |  |  | 37 |
Property, plant and equipment, net |  |  | 98 |
Other intangible assets, net |  |  | 89 |
Operating lease right-of-use assets |  |  | 7 |
Other assets |  |  | 10 |
Less: Loss recognized on assets held-for-sale |  |  | (115) |
Total assets held-for-sale |  |  | $ | 151 |
Liabilities |  |  |
Accounts payable |  |  | $ | 34 |
Other liabilities |  |  | 10 |
Total liabilities held-for-sale |  |  | $ | 44 |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-3A Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-4B Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147483499/205-20-50-4A Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/205-20/tableOfContent + Details
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