INTERNATIONAL FLAVORS & FRAGRANCES INC

For the period ended Dec 31, 2023. Filed Feb 28, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 28, 2024

IFF$83.17-1.5%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Balance Sheets as of December 31, 202 and

CONSOLIDATED BALANCE SHEETS

	December 31,
(DOLLARS IN MILLIONS)	2023	2022
ASSETS
Current Assets:
Cash and cash equivalents	$703	$483
Restricted cash	6	10
Trade receivables (net of allowances of $52 and $53, respectively)	1,726	1,818
Inventories	2,477	3,151
Assets held for sale	506	1,200
Prepaid expenses and other current assets	875	770
Total Current Assets	6,293	7,432
Property, plant and equipment, net	4,240	4,203
Goodwill	10,635	13,373
Other intangible assets, net	8,357	9,082
Operating lease right-of-use assets	689	743
Other assets	764	689
Total Assets	$30,978	$35,522
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Bank borrowings, overdrafts and current portion of long-term debt	$885	$410
Commercial paper	—	187
Accounts payable	1,378	1,418
Accrued payroll and bonus	265	267
Dividends payable	207	206
Liabilities held for sale	46	212
Other current liabilities	977	1,028
Total Current Liabilities	3,758	3,728
Other Liabilities:
Long-term debt	9,186	10,373
Retirement liabilities	253	231
Deferred income taxes	1,937	2,283
Operating lease liabilities	642	672
Other liabilities	560	491
Total Other Liabilities	12,578	14,050
Commitments and Contingencies (Note 19)
Redeemable non-controlling interests	—	59
Shareholders’ Equity:
Common stock $0.125 par value; 500,000,000 shares authorized; 275,726,629 and 275,726,629 shares issued as of December 31, 2023 and December 31, 2022, respectively; and 255,288,535 and 254,968,463 shares outstanding as of December 31, 2023 and December 31, 2022, respectively	35	35
Capital in excess of par value	19,874	19,841
(Accumulated deficit) retained earnings	(2,439)	955
Accumulated other comprehensive loss	(1,896)	(2,198)
Treasury stock, at cost (20,438,094 and 20,758,166 shares as of December 31, 2023 and December 31, 2022, respectively)	(963)	(978)
Total Shareholders’ Equity	14,611	17,655
Non-controlling interest	31	30
Total Shareholders’ Equity including non-controlling interest	14,642	17,685
Total Liabilities and Shareholders’ Equity	$30,978	$35,522

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.