v3.26.3
Other Current Assets and Liabilities, and Other Assets
 9 Months Ended
Sep. 30, 2026
Other Assets [Abstract]  
Other Current Assets and Liabilities, and Other Assets OTHER CURRENT ASSETS AND LIABILITIES, AND OTHER ASSETS
Prepaid expenses and other current assets consisted of the following amounts:
(DOLLARS IN MILLIONS)September 30, 2026December 31, 2025
Value-added tax receivable$119 $108 
Prepaid income taxes and receivables368 192 
Packaging materials and supplies44 43 
Prepaid expenses140 161 
Earnout and other post-closing adjustments receivable46 139 
Other120 99 
Total$837 $742 
Other assets consisted of the following amounts:
(DOLLARS IN MILLIONS)September 30, 2026December 31, 2025
Deferred income taxes$285 $261 
Overfunded pension plans186 177 
Cash surrender value of life insurance contracts57 57 
Finance lease right-of-use assets25 25 
Equity method investments10 10 
Long-term income tax receivables(1)
93 215 
Other(2)
213 209 
Total$869 $954 
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(1)Primarily relates to long-term tax receivables due to an operating loss carryback and long-term uncertain tax benefits.
(2)Primarily relates to land usage rights in China, long-term value-added tax receivables, and receivables from certain government authorities which the Company has corresponding payables to DuPont in relation to the 2021 merger of IFF and the nutrition and biosciences (“N&B”) business of Dupont.

Other current liabilities consisted of the following amounts:
(DOLLARS IN MILLIONS)September 30, 2026December 31, 2025
Rebates and incentives payable$101 $98 
Value-added tax payable37 29 
Interest payable32 27 
Current pension and other postretirement benefit obligation13 13 
Accrued restructuring13 34 
Current operating lease obligation78 78 
Accrued income taxes110 145 
Accrued expenses payable328 266 
Other154 145 
Total$866 $835