International Flavors & Fragrances, Inc. (IFF) financial statements (2021 and earlier)
Company profile
| Business Address |
521 W 57TH ST NEW YORK, NY 10019 |
| State of Incorp. | NY |
| Fiscal Year End | December 31 |
| SIC | 286 - Industrial Organic Chemicals (benchmarking) |
| More info | Complete financial analysis Financial benchmarking |
Balance sheet (Statement of financial position) ($ in millions)
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 650 | 607 | 635 | 368 | 324 | 182 | 479 | ||
| Cash and cash equivalents | 650 | 607 | 635 | 368 | 324 | 182 | 479 | ||
| Restricted cash and investments | 7 | 17 | 14 | ||||||
| Receivables | 929 | 61 | 938 | 664 | 551 | 538 | 494 | ||
| Inventory, net of allowances, customer advances and progress billings | 1,132 | 1,123 | 1,079 | 649 | 592 | 589 | 569 | ||
| Inventory | 1,132 | 1,123 | 1,079 | 649 | 592 | 589 | 569 | ||
| Contract with customer, asset | 3 | ✕ | ✕ | ✕ | ✕ | ||||
| Other current assets | 342 | 319 | 277 | 215 | 142 | 147 | 141 | ||
| Other undisclosed current assets | 0 | 813 | 28 | ||||||
| Total current assets: | 3,060 | 2,943 | 2,942 | 1,897 | 1,609 | 1,456 | 1,710 | ||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 1,458 | 1,387 | 1,241 | 881 | 776 | 733 | 720 | ||
| Intangible assets, net (including goodwill) | 8,320 | 8,350 | 8,418 | 1,572 | 1,366 | 1,247 | 752 | ||
| Goodwill | 5,593 | 5,498 | 5,378 | 1,156 | 1,000 | 941 | 675 | ||
| Intangible assets, net (excluding goodwill) | 2,727 | 2,852 | 3,039 | 416 | 366 | 306 | 77 | ||
| Other noncurrent assets | 717 | 608 | 289 | 150 | 128 | 119 | 129 | ||
| Defined benefit plan, assets for plan benefits | ✕ | ✕ | ✕ | ✕ | 1 | ||||
| Other undisclosed noncurrent assets | 100 | 139 | 166 | 182 | |||||
| Total noncurrent assets: | 10,496 | 10,345 | 9,948 | 2,702 | 2,408 | 2,266 | 1,785 | ||
| TOTAL ASSETS: | 13,556 | 13,287 | 12,889 | 4,599 | 4,017 | 3,721 | 3,495 | ||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 638 | 590 | 549 | 393 | 325 | 347 | 316 | ||
| Accounts payable | 556 | 510 | 471 | 338 | 275 | 302 | 230 | ||
| Employee-related liabilities | 71 | ||||||||
| Taxes payable | 15 | ||||||||
| Interest and dividends payable | 82 | 80 | 78 | 54 | 51 | 45 | |||
| Debt | 634 | 385 | 49 | 7 | 259 | 132 | 8 | ||
| Liability for uncertainty in income taxes | 2 | ||||||||
| Other liabilities | 632 | 577 | 531 | 369 | 314 | 262 | 243 | ||
| Other undisclosed current liabilities | (50) | ||||||||
| Total current liabilities: | 1,904 | 1,552 | 1,128 | 769 | 898 | 742 | 519 | ||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 3,779 | 3,997 | 4,504 | 1,632 | 1,067 | 938 | 934 | ||
| Long-term debt, excluding current maturities | 3,779 | 3,997 | 4,504 | 1,632 | 1,067 | 938 | 934 | ||
| Liabilities, other than long-term debt | 1,452 | 1,409 | 474 | 471 | 381 | 403 | 498 | ||
| Deferred revenue and credits | ✕ | ✕ | 30 | ||||||
| Pension and other postretirement defined benefit plans, liabilities | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 354 | ||
| Deferred income tax liabilities | 593 | 641 | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Liability for uncertainty in income taxes | 25 | ||||||||
| Liability, pension and other postretirement and postemployment benefits | 326 | 265 | 227 | 229 | 243 | 242 | |||
| Other liabilities | 532 | 502 | 217 | 242 | 137 | 161 | 118 | ||
| Other undisclosed noncurrent liabilities | 657 | 37 | 40 | 43 | 21 | ||||
| Total noncurrent liabilities: | 5,231 | 5,407 | 5,636 | 2,141 | 1,488 | 1,384 | 1,453 | ||
| Total liabilities: | 7,135 | 6,959 | 6,764 | 2,910 | 2,386 | 2,126 | 1,972 | ||
| Temporary equity, carrying amount | 98 | 99 | 82 | ||||||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent, including: | 6,311 | 6,217 | 6,033 | 1,684 | 1,626 | 1,590 | 1,519 | ||
| Common stock | 16 | 16 | 16 | 14 | 14 | 14 | 14 | ||
| Treasury stock, value | (1,017) | (1,023) | (1,031) | (1,726) | (1,679) | (1,556) | (1,446) | ||
| Additional paid in capital | 3,853 | 3,823 | 3,794 | 163 | 152 | 141 | 140 | ||
| Accumulated other comprehensive loss | (691) | (719) | (702) | (637) | (680) | (613) | (540) | ||
| Retained earnings | 4,156 | 4,118 | 3,956 | 3,871 | 3,819 | 3,604 | 3,351 | ||
| Other undisclosed stockholders' equity attributable to parent | (7) | 2 | |||||||
| Stockholders' equity attributable to noncontrolling interest | 12 | 12 | 10 | 5 | 5 | 5 | 4 | ||
| Total stockholders' equity: | 6,323 | 6,230 | 6,043 | 1,689 | 1,631 | 1,595 | 1,523 | ||
| TOTAL LIABILITIES AND EQUITY: | 13,556 | 13,287 | 12,889 | 4,599 | 4,017 | 3,721 | 3,495 | ||
Income statement (P&L) ($ in millions)
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 5,084 | 5,140 | 3,978 | 3,399 | 3,116 | 3,023 | 3,089 | |
| Revenue, net | ✕ | ✕ | 3,978 | 3,399 | 3,116 | 3,023 | 3,089 | |
| Cost of revenue (Cost of Goods and Services Sold) | (2,998) | (3,027) | (2,295) | (1,920) | (1,717) | (1,672) | (1,726) | |
| Gross profit: | 2,086 | 2,113 | 1,683 | 1,479 | 1,399 | 1,352 | 1,362 | |
| Operating expenses | (1,502) | (1,447) | (1,099) | (878) | (833) | (756) | (778) | |
| Other undisclosed operating income (loss) | (17) | (20) | 2 | (8) | 9 | |||
| Operating income: | 566 | 665 | 584 | 581 | 567 | 588 | 592 | |
| Nonoperating income (expense) (Other Nonoperating Income (Expense)) | 7 | 30 | 35 | 21 | 9 | (3) | 3 | |
| Interest and debt expense | (132) | (138) | (171) | (65) | (53) | (46) | (46) | |
| Income from continuing operations before income taxes: | 441 | 557 | 448 | 537 | 524 | 539 | 549 | |
| Income tax expense | (74) | (97) | (108) | (241) | (119) | (120) | (135) | |
| Net income: | 367 | 460 | 340 | 296 | 405 | 419 | 415 | |
| Net loss attributable to noncontrolling interest | (4) | (4) | (2) | |||||
| Other undisclosed net income attributable to parent | 2 | |||||||
| Net income attributable to parent: | 363 | 456 | 340 | 296 | 405 | 419 | 415 | |
| Other undisclosed net loss available to common stockholders, basic | (2) | |||||||
| Net income available to common stockholders, diluted: | 363 | 456 | 337 | 296 | 405 | 419 | 415 | |
Comprehensive Income ($ in millions)
| 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | 12/31/2015 | 12/31/2014 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 367 | 460 | 340 | 296 | 405 | 419 | 415 | |
| Other comprehensive loss | (2) | (4) | (10) | (2) | ||||
| Comprehensive income: | 367 | 460 | 338 | 292 | 395 | 418 | 415 | |
| Comprehensive loss, net of tax, attributable to noncontrolling interest | (4) | (4) | (2) | |||||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 19 | (15) | (63) | 46 | (56) | (71) | (148) | |
| Comprehensive income, net of tax, attributable to parent: | 383 | 441 | 273 | 338 | 338 | 346 | 267 | |
Statements sources
The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.