国际香料香精 2025年季度报告

Commission file number1-4858 INTERNATIONAL FLAVORS& FRAGRANCES INC.(Exact name of registrant as specified in its charter) New York13-1432060(State or other jurisdiction of(I.R.S. Employer 521 West 57th Street,New York,NY10019-2960200 Powder Mill Road,Wilmington,DE19803-2907 and “emerging growth company” in Rule 12b-2 of the Exchange Act.Large accelerated filer☑Acceleratedfiler If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Number of shares of common stock outstanding as of April29, 2025:255,790,345 Financial Statements (Unaudited)Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income - Three Months Ended March 31, Consolidated Balance Sheets - March 31, 2025and December 31, 2024 PART II - Other InformationLegal Proceedings Risk FactorsUnregistered Sales of Equity Securities and Use of Proceeds year-end balance sheet data included in this Form 10-Q was derived from the audited financial statements. In the opinion of management,all adjustments, which consist of normal recurring adjustments necessary for a fair statement of the interim Consolidated Financial Statements, have been made. Use of EstimatesThe preparation of financial statements requires management to makeestimatesand judgments that affect the amounts reported in theConsolidated Financial Statements and accompanying notes. The inputs into the Company’s judgments and estimates take into account theongoing global current events and adverse macroeconomic impacts on our critical and significant accounting estimates, including estimatesassociated with future cash flows that are used in assessing the risk of impairment of certain assets. Actual results could differ fromthoseestimates. Effective January 1, 2025, the Company voluntarily implemented a reorganization of its internal structure, which impacted the way theChief Operating Decision Maker (“CODM”), the Chief Executive Officer, allocates resources and assesses financial performance. As a result, the Company has updated its reportable segments beginning with the first quarter of 2025. The Company also adjusted its corporatecost allocations to align with the new organizational structure and updated operating model, consistent with how management assesses to reflect these changes in corporate allocations among the Company’s reportable segments on a comparable basis. Please see Note 6 formore information. March31, 2024 and December31, 2023 were as follows: (DOLLARS IN MILLIONS)March 31, 20252024March 31, 20242023Current assetsCash and cash equivalents$613$469$732$Cash and cash equivalents included in Assets held37232Restricted cash——7 receivables (“Company’s own factoring agreements”). In addition, the Company utilizes factoring agreements sponsored by certaincustomers. Under all of the arrangements, the Company sells the trade receivables on a non-recourse basis to unrelated financial institutions and accounts for the transactions as sales of receivables. The applicable receivables are removed from the Company’s Consolidated Balance Sheets when the cash proceeds are received by the Company.The Company sold a total of approximately $413million and $406million of receivables under the Company’s own factoringagreements and customer sponsored factoring agreements for the three months ended March31, 2025 and 2024, respectively. The cost of terms of the invoice. The following is a roll-forward of the Company’s allowances for bad debts for the three months ended March 31, 2025 and 2024:Three Months Ended March 31,(DOLLARS IN MILLIONS)20252024Balance at January 1$26$ Foreign exchange1Balance at March 31$28$InventoriesInventories are stated at the lower of cost (on a weighted-average basis) or net realizable value.The Company’s inventories consistedof the following: categories and income taxes paid by jurisdiction. This guidance is effective for fiscal years beginning after December 15, 2024, with earlyadoption permitted, and may be applied either prospectively or retrospectively. The Company expects that the adoption of the standard will impact certain income tax disclosures in the Notes to the Consolidated Financial Statements, but will otherwise not have an impact on theCompany’s results of operations. Weighted average common shares outstanding (basic)Adjustment for assumed dilution: Stock options and restricted stock awards Weighted average shares assuming dilution (diluted)256Net (Loss) Income per ShareNet (loss) income per share - basic and diluted$(3.98)$_______________________(1) three months ended March31, 2025 because there was a net loss attributable to IFF for the period and, as such, the inclusion of thesesecurities would have been anti-dilutive.For the three months ended March31, 2025, there were approximately0.3million share equivalents that had