INTERNATIONAL FLAVORS & FRAGRANCES INC
For the period ended Sep 30, 2024. Filed Nov 5, 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.
Sep 30, 2024 · Filed Nov 5, 2024
IFF$82.62-4.3%Stored close · as of Nov 6, 2026
Contents
Item 1. Financial Statements
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS)
| Three Months Ended · Nine Months Ended | ||||
|---|---|---|---|---|
| September 30, | September 30, | |||
| (AMOUNTS IN MILLIONS EXCEPT PER SHARE AMOUNTS) | 2024 | 2023 | 2024 | 2023 |
| Net sales | $2,925 | $2,820 | $8,713 | $8,776 |
| Cost of Sales | 1,873 | 1,896 | 5,569 | 5,955 |
| Gross profit | 1,052 | 924 | 3,144 | 2,821 |
| Research and development expenses | 162 | 157 | 501 | 479 |
| Selling and administrative expenses | 495 | 444 | 1,478 | 1,343 |
| Amortization of acquisition-related intangibles | 146 | 170 | 467 | 513 |
| Impairment of goodwill | — | — | 64 | — |
| Restructuring and other charges | 1 | 2 | 6 | 61 |
| (Gains) losses on sale of assets | (1) | 1 | (11) | (1) |
| Operating profit | 249 | 150 | 639 | 426 |
| Interest expense | 74 | 90 | 236 | 291 |
| (Gains) losses on business disposals | 20 | 10 | (348) | 29 |
| Loss on assets classified as held for sale | 32 | — | 314 | — |
| Other expense (income), net | 28 | (9) | 44 | (17) |
| Income before income taxes | 95 | 59 | 393 | 123 |
| Provision for income taxes | 35 | 32 | 100 | 77 |
| Net income | 60 | 27 | 293 | 46 |
| Net income attributable to non-controlling interests | 1 | 2 | 4 | 3 |
| Net income attributable to IFF shareholders | $59 | $25 | $289 | $43 |
| Net income per share - basic and diluted | $0.23 | $0.10 | $1.13 | $0.16 |
| Average number of shares outstanding - basic | 256 | 255 | 255 | 255 |
| Average number of shares outstanding - diluted | 257 | 256 | 256 | 255 |
| Statements of Comprehensive Income (Loss) | ||||
| Net income | $60 | $27 | $293 | $46 |
| Other comprehensive income (loss), after tax: | ||||
| Foreign currency translation adjustments | 555 | (476) | 134 | (132) |
| Gains (losses) on derivatives qualifying as hedges | 1 | — | (5) | — |
| Pension and postretirement liability adjustment | (1) | (3) | 7 | (6) |
| Other comprehensive income (loss) | 555 | (479) | 136 | (138) |
| Comprehensive income (loss) | 615 | (452) | 429 | (92) |
| Comprehensive income attributable to non-controlling interests | 1 | 2 | 4 | 3 |
| Comprehensive income (loss) attributable to IFF shareholders | $614 | $(454) | $425 | $(95) |
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