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Income Statement
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INTERNATIONAL FLAVORS & FRAGRANCES INC (IFF)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsDec-31-22Dec-31-21Dec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16Dec-31-15
   10-K10-K10-K10-K10-K10-K10-K10-K
Net sales  12,440.011,656.05,084.05,140.03,977.53,398.73,116.43,023.2
            Net sales growth  6.7%129.3%-1.1%29.2%17.0%9.1%3.1%-2.1%
Cost of goods sold  8,289.07,921.02,998.03,027.02,294.81,926.3  
    Gross profit  4,151.03,735.02,086.02,113.01,682.71,472.51,395.61,351.6
            Gross margin  33.4%32.0%41.0%41.1%42.3%43.3%44.8%44.7%
Research and development expenses  603.0629.0357.0346.0311.6295.5258.9246.1
Selling and administrative expenses  1,768.01,749.0949.0876.0707.5570.1572.5494.5
Amortization of acquisition-related intangibles  727.0732.0193.0193.075.934.723.815.0
   
Impairment of goodwill          
Restructuring and other charges  12.041.017.030.05.119.7-1.77.6
Gain (Loss) on Disposition of Assets  -3.0-1.04.03.0-1.2-0.2-10.8 
    Operating profit  -1,326.0585.0566.0665.0583.9552.6553.0588.3
            Operating margin  -10.7%5.0%11.1%12.9%14.7%16.3%17.7%19.5%
Interest expense  -336.0-289.0-132.0-138.0-132.6-65.4-53.0-46.1
Other (income) expense, net  -37.0-58.0-7.0-30.0-35.2-49.8-23.83.2
Provision for income taxes  239.075.074.097.0108.0241.4118.7119.9
    Net income  -1,864.0279.0367.0460.0339.8295.7  
Net income attributable to non-controlling interests  -7.0-9.0-4.0-4.0-2.5   
    Net income attributable to IFF shareholders        405.0419.2
   
Net income per share - basic (in dollars per share)  ($7.32)$1.11$3.25$4.05$3.81$3.73$5.07$5.19
Net income per share - diluted (in dollars per share)  ($7.32)$1.10$3.21$4.00$3.79$3.72$5.05$5.16
   
Average number of shares outstanding - basic (in shares)  255.0243.0112.0112.087.679.179.680.4
Average number of shares outstanding - diluted (in shares)  255.0243.0114.0113.088.179.480.080.9
   
Dividends declared per share, in dollars per share  $3.20$3.12$3.04$2.96$2.84$2.66$2.40$2.06
   
Other comprehensive income (loss), after tax:          
Foreign currency translation adjustments  -904.0-848.088.024.0-99.654.6-54.5-124.2
   
Gains on derivatives qualifying as hedges          
Pension and postretirement liability adjustment          
    Net current period other comprehensive income (loss)          
    Comprehensive income (loss)          
    Comprehensive income (loss) attributable to IFF shareholders  -2,617.0-455.0382.0441.0272.6338.3338.4346.2

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