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Segment Information
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Information SEGMENT INFORMATION
Effective January 1, 2025, the Company implemented a reorganization of its internal structure, which impacted the way the CODM, the Chief Executive Officer, allocates resources and assesses financial performance. As a result, the Company updated its reportable segments beginning with the first quarter of 2025.
Specifically, the former Nourish segment has been separated into two new reportable segments: Taste and Food Ingredients. The Taste segment (formerly the Flavors business within Nourish) includes flavor compounds and natural taste solutions used in food and beverage applications. The Food Ingredients segment (formerly the Ingredients business within Nourish) includes a broad portfolio of natural and plant-based specialty ingredients that provide texturizing and food protection capabilities, as well as soy and pea protein solutions, emulsifiers, and sweeteners.
In addition, immaterial business transfers occurred between Food Ingredients and Pharma Solutions, and between Health & Biosciences and Taste. Accordingly, the Company’s reportable segments as of January 1, 2025 are: Taste, Food Ingredients, Health & Biosciences, Scent, and Pharma Solutions.
The Company also adjusted its corporate cost allocations to align with the new organizational structure and updated operating model, consistent with how management assesses performance effective January 1, 2025.
Segment information for the three months and nine months ended September 30, 2024 has been recast to reflect the updated segment structure and changes in corporate allocations among the Company’s reportable segments on a comparable basis.
The Company’s CODM does not use assets by segment to evaluate segment performance or allocate resources and thus, total assets by segment are not disclosed.
Reportable segment information was as follows:
As a result of the divestitures of the Pharma Solutions disposal group and Nitrocellulose business that were completed during May 2025, the Pharma Solutions reportable segment information for the nine months ended September 30, 2025 includes four months of results.
Three Months Ended September 30, 2025
TasteFood IngredientsHealth & BiosciencesScentTotal
Net sales $635 $830 $577 $652 $2,694 
Cost of sales (379)(642)(315)(374)
Research & development expenses (41)(13)(57)(63)
Selling & administrative expenses (103)(104)(87)(97)
Depreciation expense add-back (a) 16 35 32 17 
Adjusted Operating EBITDA$128 $106 $150 $135 $519 
Reconciliation of Adjusted Operating EBITDA:
Total Adjusted Operating EBITDA$519 
Depreciation & Amortization(247)
Interest Expense(48)
Other Expense, net (b)(14)
Restructuring and Other Charges (c)(16)
Loss on Assets Classified as Held for Sale (f)(108)
Divestiture and Integration Costs (g)(13)
Strategic Initiative Costs (h)(10)
Regulatory Costs (i)(7)
Entity Realignment Costs (k)(1)
Other (l)1 
Income (Loss) Before Taxes$56 

Nine Months Ended September 30, 2025
TasteFood IngredientsHealth & BiosciencesScentPharma SolutionsTotal
Net sales $1,893 $2,476 $1,694 $1,869 $369 $8,301 
Cost of sales (1,133)(1,893)(924)(1,054)(248)
Research & development expenses (128)(39)(164)(180)(8)
Selling & administrative expenses (295)(300)(259)(275)(42)
Depreciation expense add-back (a) 47 97 92 49 5 
Adjusted Operating EBITDA$384 $341 $439 $409 $76 $1,649 
Reconciliation of Adjusted Operating EBITDA:
Total Adjusted Operating EBITDA$1,649 
Depreciation & Amortization(725)
Interest Expense(180)
Other Expense, net (b)(44)
Restructuring and Other Charges (c)(54)
Impairment of Goodwill (d)(1,153)
(Losses) Gains on Business Disposals (e)(111)
Loss on Assets Classified as Held for Sale (f)(108)
Divestiture and Integration Costs (g)(90)
Strategic Initiative Costs (h)(24)
Regulatory Costs (i)(71)
Gain on Debt Extinguishment (j)488 
Entity Realignment Costs (k)(5)
Other (l)(6)
Income (Loss) Before Taxes$(434)

Three Months Ended September 30, 2024
TasteFood IngredientsHealth & BiosciencesScentPharma SolutionsTotal
Net sales $623 $843 $568 $613 $278 $2,925 
Cost of sales (369)(668)(305)(353)(178)
Research & development expenses (38)(17)(44)(57)(6)
Selling & administrative expenses (103)(99)(96)(94)(30)
Depreciation expense add-back (a) 16 32 29 19 4 
Adjusted Operating EBITDA$129 $91 $152 $128 $68 $568 
Reconciliation of Adjusted Operating EBITDA:
Total Adjusted Operating EBITDA$568 
Depreciation & Amortization(248)
Interest Expense(74)
Other Expense, net (b)(28)
Restructuring and Other Charges (c)(1)
(Losses) Gains on Business Disposals (e)(20)
Loss on Assets Classified as Held for Sale (f)(32)
Divestiture and Integration Costs (g)(55)
Strategic Initiative Costs (h)(6)
Regulatory Costs (i)(10)
Other (l)1 
Income (Loss) Before Taxes$95 
Nine Months Ended September 30, 2024
TasteFood IngredientsHealth & BiosciencesScentPharma SolutionsTotal
Net sales $1,852 $2,546 $1,653 $1,861 $801 $8,713 
Cost of sales (1,110)(1,996)(885)(1,031)(546)
Research & development expenses (117)(58)(140)(167)(19)
Selling & administrative expenses (299)(283)(273)(275)(84)
Depreciation expense add-back (a) 47 99 86 51 21 
Adjusted Operating EBITDA$373 $308 $441 $439 $173 $1,734 
Reconciliation of Adjusted Operating EBITDA:
Total Adjusted Operating EBITDA$1,734 
Depreciation & Amortization(772)
Interest Expense(236)
Other Expense, net (b)(44)
Restructuring and Other Charges (c)(6)
Impairment of Goodwill (d)(64)
(Losses) Gains on Business Disposals (e)348 
Loss on Assets Classified as Held for Sale (f)(284)
Divestiture and Integration Costs (g)(172)
Strategic Initiative Costs (h)(22)
Regulatory Costs (i)(64)
Entity Realignment Costs (k)(3)
Other (l)8 
Income (Loss) Before Taxes$423 
_______________________
a)There is depreciation recorded within cost of sales, research & development expenses, and selling & administrative expenses, which is then added back to calculate segment Adjusted Operating EBITDA. This reflects how the CODM reviews Segment results.
b)
Please refer to Note 8 for additional information.
c)
For 2025, represents costs related to severance as part of the IFF Productivity Program. For 2024, represents costs related to lease impairment and severance as part of the Company’s restructuring efforts. Please refer to Note 4 for additional information.
d)For 2025, represents the impairment of goodwill related to the Food Ingredients reporting unit. For 2024, represents the impairment of goodwill related to the Pharma Solutions disposal group.
e)
For 2025, primarily represents losses recognized as part of the sale of the Pharma Solutions disposal group, offset in part by gains recognized as part of the sale of the Nitrocellulose business. For 2024, primarily represents gains recognized as part of the sale of the Cosmetic Ingredients business and losses recognized as part of the sale of the Flavors & Essences UK business. Please refer to Note 3 for additional information.
f)For 2025, represents the loss recognized on assets classified as held for sale of the Soy Crush, Concentrates & Lecithin business. For 2024, represents the losses recognized on assets classified as held for sale of the Pharma Solutions disposal group and portion of the Savory Solutions business in Turkey.
g)
For 2025 and 2024, primarily represents costs related to the Company’s completed and anticipated divestitures. These costs primarily consisted of external consulting fees, professional and legal fees and salaries of individuals who are fully dedicated to such efforts.

For the three months ended September 30, 2025, there were approximately $13 million of divestiture costs. For the three months ended September 30, 2024, business divestiture costs were approximately $55 million.

For the nine months ended September 30, 2025, there were approximately $90 million of divestiture costs. For the nine months ended September 30, 2024, business divestiture and integration costs were approximately $167 million and $5 million, respectively.
h)Represents costs related to the Company’s strategic assessment and business portfolio optimization efforts and reorganizing the Global Business Services Centers, primarily consulting fees.
i)Represents costs primarily related to legal fees and provisions incurred related to the ongoing investigations of the fragrance businesses including a provision for the anticipated settlement of the related US class action lawsuits.
j)
For 2025, represents the gain recognized on the extinguishment of debt in connection with the completion of tender offers. Please refer to Note 13 for additional information.
k)
Represents primarily consulting costs related to the Company’s implementation of a phased restructuring initiative aimed at optimizing its legal entity framework. See Note 9 for additional information.
l)For 2025, primarily represents the net impact of costs related to severance, including accelerated stock compensation expense, for certain executives who have separated from the Company. For 2024, represents gains (losses) from sale of assets and executive employee separation costs.

Segment capital expenditures consisted as follows:
Three Months Ended September 30,
(DOLLARS IN MILLIONS)20252024
Taste$15 $18 
Food Ingredients59 34 
Health and Biosciences37 17 
Scent 21 18 
Pharma Solutions— 16 
Consolidated $132 $103 

Nine Months Ended September 30,
(DOLLARS IN MILLIONS)20252024
Taste$57 $41 
Food Ingredients159 104 
Health and Biosciences99 52 
Scent 53 43 
Pharma Solutions38 63 
Consolidated $406 $303 
Net sales, which are attributed to individual regions based upon the destination of product delivery, were as follows:
 Three Months Ended September 30,Nine Months Ended September 30,
(DOLLARS IN MILLIONS)2025202420252024
Europe, Africa and Middle East$933 $964 $2,838 $2,913 
North America779 886 2,450 2,628 
Greater Asia617 694 1,934 2,057 
Latin America365 381 1,079 1,115 
Consolidated$2,694 $2,925 $8,301 $8,713 
 Three Months Ended September 30,Nine Months Ended September 30,
(DOLLARS IN MILLIONS)2025202420252024
Net sales related to the U.S.$737 $834 $2,302 $2,467 
Net sales attributed to all foreign countries1,957 2,091 5,999 6,246 
No country other than the U.S. had net sales greater than 10% of total consolidated net sales for each of the three and nine months ended September 30, 2025 and 2024.