INTERNATIONAL FLAVORS & FRAGRANCES INC
For the period ended Mar 31, 2024. Filed May 6, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 6, 2024
IFF$82.62-4.3%Stored close · as of Nov 6, 2026
Contents
Consolidated Statements of Income (Loss) and Comprehensive - Three Months Ended March, 202 and
CONSOLIDATED STATEMENTS OF INCOME (LOSS) AND COMPREHENSIVE (LOSS) INCOME
| Three Months Ended | ||
|---|---|---|
| March 31, | ||
| (AMOUNTS IN MILLIONS EXCEPT PER SHARE AMOUNTS) | 2024 | 2023 |
| Net sales | $2,899 | $3,027 |
| Cost of goods sold | 1,875 | 2,063 |
| Gross profit | 1,024 | 964 |
| Research and development expenses | 166 | 161 |
| Selling and administrative expenses | 490 | 454 |
| Amortization of acquisition-related intangibles | 168 | 171 |
| Restructuring and other charges | 3 | 52 |
| Gains on sale of assets | (2) | (5) |
| Operating profit | 199 | 131 |
| Interest expense | 83 | 100 |
| Other expense, net | 1 | 17 |
| Income before taxes | 115 | 14 |
| Provision for income taxes | 54 | 22 |
| Net income (loss) | 61 | (8) |
| Net income attributable to non-controlling interests | 1 | 1 |
| Net income (loss) attributable to IFF shareholders | $60 | $(9) |
| Net income (loss) per share - basic | $0.23 | $(0.04) |
| Net income (loss) per share - diluted | $0.23 | $(0.04) |
| Average number of shares outstanding - basic | 255 | 255 |
| Average number of shares outstanding - diluted | 256 | 255 |
| Statements of Comprehensive (Loss) Income | ||
| Net income (loss) | $61 | $(8) |
| Other comprehensive (loss) income, after tax: | ||
| Foreign currency translation adjustments | (293) | 284 |
| Losses on derivatives qualifying as hedges | (7) | — |
| Pension and postretirement liability adjustment | 5 | (2) |
| Other comprehensive (loss) income | (295) | 282 |
| Comprehensive (loss) income | (234) | 274 |
| Comprehensive income attributable to non-controlling interests | 1 | 1 |
| Comprehensive (loss) income attributable to IFF shareholders | $(235) | $273 |
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