Goodwill and Other Intangible Assets, Net (Tables)

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Movements in Goodwill

Movements in goodwill attributable to each reportable segment for the nine months ended September 30, 2025 were as follows:

(DOLLARS IN MILLIONS)	Nourish		Taste		Food Ingredients		Scent		Health & Biosciences		Pharma Solutions		Total
Balance at January 1, 2025	$	3,315	$	—	$	—	$	1,465	$	4,295	$	—	$	9,075
Reallocation of goodwill in segment reorganization	(3,315)		2,176		1,153		—		(14)		—		—
Transferred to assets held for sale	—		(6)		—		—		—		—		(6)
Impairment	—		—		(1,153)		—		—		—		(1,153)
Foreign exchange	—		125		—		44		179		—		348
Balance at September 30, 2025	$	—	$	2,295	$	—	$	1,509	$	4,460	$	—	$	8,264

Goodwill Impairment Test

Effective January 1, 2025, the Company reorganized its Nourish segment into two new reportable segments: Taste and Food Ingredients, to align with changes in the Company’s internal management reporting structure. As a result of this change, goodwill previously allocated to the Nourish reporting unit was reallocated between the new Taste and Food Ingredients reporting units. In accordance with ASC 350, the Company performed a quantitative goodwill impairment test on the former Nourish reporting unit immediately prior to the change, and separately tested goodwill for the new Taste and Food Ingredients reporting units following the reorganization. Based on the results of the impairment testing, the Company determined that the carrying amount of the Food Ingredients reporting unit exceeded its estimated fair value, and accordingly recognized a goodwill impairment charge of $1.153 billion. This charge is reflected in the Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) for the nine months ended September 30, 2025. As of September 30, 2025, there is no remaining goodwill attributable to the Food Ingredients reporting unit.

The Company assessed the fair value of the reporting units using an income approach. Under the income approach, the Company determined the fair value by using a discounted cash flow method at a rate of return that reflects the relative risk of the projected future cash flows of each reporting unit, as well as a terminal value. The Company used the most current actual and forecasted operating data available. Key estimates and assumptions used in these valuations include revenue growth rates, gross margins, adjusted operating EBITDA margins, terminal growth rates and discount rates.

Schedule of Other Intangible Assets, Net

Other intangible assets, net consisted of the following amounts:

	September 30,		December 31,
(DOLLARS IN MILLIONS)	2025		2024
Asset Type
Customer relationships	$	7,192	$	7,004
Technological know-how	1,996		1,937
Trade names & patents	284		268
Other	24		25
Total carrying value	9,496		9,234
Accumulated Amortization
Customer relationships	(2,102)		(1,765)
Technological know-how	(1,038)		(875)
Trade names & patents	(152)		(128)
Other	(21)		(21)
Total accumulated amortization	(3,313)		(2,789)
Other intangible assets, net	$	6,183	$	6,445

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Amortization expense for the next five years, based on valuations and determinations of useful lives, is expected to be as follows:

(DOLLARS IN MILLIONS)	Remainder of 2025		2026		2027		2028		2029
Estimated future intangible amortization expense	$	146	$	581	$	493	$	480	$	444