INTERNATIONAL FLAVORS & FRAGRANCES INC

Listed Company

IFFCIK 0000051253NYSELarge AcceleratedIndustrial Organic ChemicalsNew YorkFY ends Dec 31

Period

FY 2025

Revenue

$10.89B

Net Income

$-359.00M

Total Assets

$25.54B

Equity

$14.15B

Shares Out

255.48M

Op. Cash Flow

$850.00M

Business

INTERNATIONAL FLAVORS & FRAGRANCES INC is a leading creator and manufacturer of food, beverage, health & biosciences, scent and pharma solutions and complementary adjacent products, including natural health ingredients for a wide range of consumer goods. It offers flavors and food ingredients, enzymes, cultures, probiotics, specialty proteins, natural preservation solutions, fragrance compounds and ingredients, and pharmaceutical excipients and delivery systems. The company operates through the Taste (formerly Flavors), Food Ingredients, Health & Biosciences, Scent and Pharma Solutions segments. It sells globally to manufacturers in food and beverage, home and personal care, health and wellness, pharmaceuticals and animal nutrition through its worldwide manufacturing, creative centers and third‑party partners.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	10,890	11,484	11,479	12,440	11,656
Cost of Product and Service Sold	6,952	7,360	7,798	8,289	7,921
Gross profit	3,938	4,124	3,681	4,151	3,735
Research and development expenses	694	671	636	603	629
Selling and administrative expenses	1,834	1,995	1,787	1,768	1,749
Restructuring and other charges	70	29	68	12	—
Amortization of acquisition-related intangibles	568	610	680	727	732
Impairment of goodwill	1,153	64	2,623	2,250	0
Losses (Gains) on sale of assets	1	−11	−3	−3	−1
Operating (loss) profit	−382	766	−2,110	−1,326	585
Interest expense	229	305	380	336	—
Gain on extinguishment of debt	−488	0	0	—	—
Losses (Gains) on business disposals	109	−346	23	−11	—
Loss on assets classified as held for sale	115	317	0	0	—
Other expense, net	65	182	5	−26	−58
(Loss) income before taxes	−412	308	−2,518	−1,625	354
Income Tax Expense	−53	41	69	239	75
Net (loss) income	−359	267	−2,587	−1,864	279
Net income attributable to non-controlling interest	2	4	4	7	9
Net income available to IFF common shareholders	−361	263	−2,591	−1,871	270
Foreign currency translation adjustments	1,153	−774	414	−933	−848
Gains (losses) on derivatives qualifying as hedges	−2	−3	0	0	8
Pension and postretirement liability adjustment	−54	146	−112	158	115
Net current period other comprehensive income (loss)	1,097	−631	302	−775	−725
Comprehensive income (loss)	738	−364	−2,285	−2,639	−446
Comprehensive income (loss) attributable to IFF shareholders	736	−368	−2,289	−2,646	−455
Net income per share - basic (in dollars per share)	−1.41	1.04	−10.14	−7.32	1.11
Net income per share - diluted (in dollars per share)	−1.41	1.04	−10.14	−7.32	1.1
Average number of shares outstanding - basic (in shares)	256	256	255	255	243
Average number of shares outstanding - diluted (in shares)	256	256	255	255	243

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash, cash equivalents, and restricted cash	590	469	709	—	—
Receivables, net, current	1,731	1,624	1,726	1,818	—
Inventories	2,245	2,133	2,477	3,151	2,516
Assets held for sale	151	3,056	506	1,200	1,122
Prepaid expenses and other current assets	877	686	875	770	728
Total Current Assets	5,594	7,968	6,293	7,432	6,987
Property, plant and equipment, net	4,029	3,739	4,240	4,203	4,368
Goodwill	8,269	9,075	10,635	13,373	16,432
Other intangible assets, net	6,043	6,445	8,357	9,082	10,506
Operating lease right-of-use assets	579	589	689	743	767
Other assets	1,025	907	764	689	616
Total Assets	25,539	28,723	30,978	35,522	39,658
Short-term debt and current portion of long-term debt	1,254	1,413	885	410	308
Accounts payable	1,287	1,283	1,378	1,418	1,532
Accrued payroll and bonus	327	420	265	267	335
Dividends payable	102	102	207	206	201
Liabilities held for sale	44	332	46	212	101
Other current liabilities	919	802	977	1,028	832
Total Current Liabilities	3,933	4,352	3,758	3,728	3,633
Long-term debt	4,740	7,564	9,186	10,373	10,768
Retirement liabilities	186	167	253	231	385
Deferred income taxes	1,379	1,594	1,937	2,283	2,518
Operating lease liabilities	533	550	642	672	670
Other liabilities	582	627	560	491	462
Total Other Liabilities	7,420	10,502	12,578	14,050	14,803
Commitments and Contingencies (Note 21)	—	—	—	—	—
Common stock, value, issued	35	35	35	35	35
Capital in excess of par value	19,918	19,917	19,874	19,841	19,826
Accumulated deficit	−3,417	−2,647	−2,439	955	3,641
Accumulated other comprehensive loss	−1,430	−2,527	−1,896	−2,198	−1,423
Treasury stock, value	−952	−944	−963	−978	−997
Total Shareholders Equity	14,154	13,834	14,611	17,655	21,082
Non-controlling interest	32	35	31	30	35
Total Shareholders Equity including non-controlling interest	14,186	13,869	14,580	17,647	21,117
Total Liabilities and Shareholders Equity	25,539	28,723	30,978	35,522	39,658

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	962	1,015	1,142	1,179	1,156
Deferred income taxes	−270	−323	−371	−237	−236
Loss on assets classified as held for sale	115	317	0	0	—
Gains on sale of assets	1	−11	−3	−3	−1
Stock-based compensation	88	77	65	49	54
Pension contributions	−29	−29	−36	−36	−37
Pension-related (benefit) expense	−11	125	−28	−19	—
Inventory Write-down	0	0	72	0	0
Trade receivables	−68	−217	51	−117	−169
Inventories	−41	−34	605	−893	−363
Accounts payable	−57	40	−39	−57	419
Accruals for incentive compensation	−106	190	−2	−34	96
Other assets/liabilities, net	−149	−65	−60	70	−120
Net cash provided by operating activities	850	1,070	1,455	397	1,437
Additions to property, plant and equipment	−594	−463	−503	−504	−393
Additions to intangible assets	−2	−5	0	−2	−4
Proceeds from disposal of assets	21	21	27	8	18
Net proceeds received from business disposals	2,743	875	1,050	1,169	—
Cash received (paid) on foreign currency forward contracts	105	—	—	—	—
Cash received (paid) on foreign currency forward contracts	—	102	16	0	—
Joint venture capital contributions	−4	0	0	—	—
Net cash provided by investing activities	2,269	326	558	745	−18
Cash dividends paid to shareholders	−409	−514	−826	−810	−667
Dividends paid to redeemable non-controlling interests	0	0	−13	0	−2
Decrease in revolving credit facility and short term borrowings	0	0	−99	104	−105
Net borrowings (repayments) of commercial paper (maturities less than three months)	314	0	−187	48	324
Principal payments of debt	−2,913	−1,030	−655	−300	−828
Purchases of redeemable non-controlling interests	0	0	−39	−47	0
Deferred and contingent consideration paid	0	−36	−6	0	−14
Withholding tax paid on stock-based compensation	−24	−16	−13	−21	−21
Other, net	−21	−10	−13	−7	9
Purchase of treasury stock	−38	0	0	—	—
Net cash used in financing activities	−3,091	−1,606	−1,851	−1,229	−1,304
Effect of exchange rate changes on cash, cash equivalents and restricted cash	91	−54	21	−77	−59
Net change in cash, cash equivalents and restricted cash	119	−264	183	−164	56
Interest paid, net of amounts capitalized	229	308	370	310	310
Income taxes paid	329	370	578	329	289
Accrued capital expenditures	176	158	109	150	117

Filings

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