v3.26.3
CONSOLIDATED STATEMENT OF INCOME (LOSS) AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Net sales $ 1,942 $ 1,869 $ 5,802 $ 5,838
Cost of sales 1,117 1,070 3,295 3,363
Gross profit 825 799 2,507 2,475
Research and development expenses 170 162 494 487
Selling and administrative expenses 387 348 1,158 1,147
Amortization of acquisition-related intangibles 78 84 244 246
Impairment of goodwill 23 0 23 34
Restructuring and other charges 5 14 15 49
Gain (Loss) on Disposition of Assets 2 0 2 1
Operating profit (loss) 160 191 571 511
Interest expense 46 48 136 180
Gain on extinguishment of debt 0 0 0 (488)
Losses on business disposals (2) 0 (1) 111
Losses on assets classified as held for sale 236 0 263 0
Other expense, net 14 13 47 52
(Loss) Income from continuing operations before taxes (134) 130 126 656
(Benefit) Provision for income taxes (7) 31 65 (61)
Net (loss) income from continuing operations (127) 99 61 717
Income (loss) from discontinued operations before tax 99 (74) 143 (1,090)
Provision (benefit) for income taxes from discontinued operations 27 (16) 38 4
Net income (loss) from discontinued operations, net of tax 72 (58) 105 (1,094)
Net (loss) income (55) 41 166 (377)
Net income attributable to non-controlling interests from continuing operations 0 0 1 1
Net income attributable to non-controlling interests from discontinued operations 0 1 1 1
Net (loss) income attributable to IFF shareholders $ (55) $ 40 $ 164 $ (379)
(Loss) Income per share - basic        
Continuing operations (in dollars per share) $ (0.50) $ 0.39 $ 0.24 $ 2.81
Discontinued operations (in dollars per share) 0.28 (0.23) 0.41 (4.29)
Net income (loss) per share - basic (in dollars per share) (0.22) 0.16 0.65 (1.48)
(Loss) Income per share - diluted        
Continuing operations (in dollars per share) (0.50) 0.39 0.23 2.80
Discontinued operations (in dollars per share) 0.28 (0.23) 0.41 (4.28)
Net income (loss) per share - diluted (in dollars per share) $ (0.22) $ 0.16 $ 0.64 $ (1.48)
Average number of shares outstanding        
Average number of shares outstanding - basic (in shares) 253,000 256,000 254,000 255,000
Average number of shares outstanding - diluted (in shares) 253,000 257,000 255,000 256,000
Other comprehensive (loss) income, after tax:        
Foreign currency translation adjustments $ (69) $ (47) $ (236) $ 1,115
Gains (losses) on derivatives qualifying as hedges 3 0 6 (1)
Pension and postretirement liability adjustment 1 (1) 7 (50)
Other comprehensive (loss) income (65) (48) (223) 1,064
Comprehensive (loss) income (120) (7) (57) 687
Comprehensive income attributable to non-controlling interests 0 0 1 1
Comprehensive (loss) income attributable to IFF shareholders $ (120) $ (7) $ (58) $ 686
Continuing Operations        
Average number of shares outstanding        
Average number of shares outstanding - basic (in shares) 253,000 256,000 254,000 255,000
Average number of shares outstanding - diluted (in shares) 253,000 257,000 255,000 256,000