8-K/A
filed February 27, 2023, 6:59 PM ET
ticker IFF
CIK 0000051253
earnings
confidence high
sentiment negative
materiality 0.70
IFF amends Q4/FY2022 results: $28M tax adjustment, $52M cash reclassification; net loss $1.87B
INTERNATIONAL FLAVORS & FRAGRANCES INC
2022-FY EPS reported
-$7.32
revenue$12,440,000,000
- Amendment adds $28M tax expense for Q4 and FY2022; no change to operating cash flow.
- Cash reclassification adds $52M to operating cash flow and year-end cash balance.
- FY2022 net loss attributable to IFF of $1,871M ($7.32 diluted EPS) vs. income $270M ($1.10) in 2021.
- FY2022 includes $2.25B goodwill impairment and $120M long-lived asset impairment.
- Adjusted (non-GAAP) EPS ex. amortization fell to $5.42 in FY2022 from $5.63 in FY2021.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
INTERNATIONAL FLAVORS & FRAGRANCES INC reported Year Ended December 31, 2022 results: revenue $ 12,440, net income $ (1,871), EPS $ (7.32).
- Period
- Year Ended December 31, 2022
- Revenue
- $ 12,440
- Net income
- $ (1,871)
- EPS
- $ (7.32)
- Result
- reported results
Exact text from the filing
Net sales $ 2,844 $ 3,031 (6) % $ 12,440 $ 11,656 7 % Cost of goods sold 1,975 2,050 (4) % 8,289 7,921 5 % Gross profit 869 981 (11) % 4,151 3,735 11 % Research and development expenses 143 166 (14) % 603 629 (4) % Selling and administrative expenses 440 450 (2) % 1,768 1,749 1 % Restructuring and other charges 7 7 — % 12 41 (71) % Amortization of acquisition-related intangibles 175 185 (5) % 727 732 (1) % Impairment of goodwill — — NMF 2,250 — NMF Impairment of long-lived assets — — NMF 120 — NMF Gains on sale of fixed assets (1) — NMF (3) (1) 200 % Operating profit (loss) 105 173 (39) % (1,326) 585 NMF Interest expense 104 73 42 % 336 289 16 % Other expense (income), net 6 (14) (143) % (37) (58) (36) % (Loss) income before taxes (5) 114 (104) % (1,625) 354 NMF Provision for income taxes 19 22 (14) % 239 75 219 % Net (loss) income (24) 92 (126) % (1,864) 279 NMF Net income attributable to non-controlling interest 1 2 (50) % 7 9 (22) % Net (loss) income attributable to IFF shareholders
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
INTERNATIONAL FLAVORS & FRAGRANCES INC reported Three Months Ended December 31, 2022 results: revenue $ 2,844, net income $ (25), EPS $ (0.10).
- Period
- Three Months Ended December 31, 2022
- Revenue
- $ 2,844
- Net income
- $ (25)
- EPS
- $ (0.10)
- Result
- reported results
Exact text from the filing
Net sales $ 2,844 $ 3,031 (6) % $ 12,440 $ 11,656 7 % Cost of goods sold 1,975 2,050 (4) % 8,289 7,921 5 % Gross profit 869 981 (11) % 4,151 3,735 11 % Research and development expenses 143 166 (14) % 603 629 (4) % Selling and administrative expenses 440 450 (2) % 1,768 1,749 1 % Restructuring and other charges 7 7 — % 12 41 (71) % Amortization of acquisition-related intangibles 175 185 (5) % 727 732 (1) % Impairment of goodwill — — NMF 2,250 — NMF Impairment of long-lived assets — — NMF 120 — NMF Gains on sale of fixed assets (1) — NMF (3) (1) 200 % Operating profit (loss) 105 173 (39) % (1,326) 585 NMF Interest expense 104 73 42 % 336 289 16 % Other expense (income), net 6 (14) (143) % (37) (58) (36) % (Loss) income before taxes (5) 114 (104) % (1,625) 354 NMF Provision for income taxes 19 22 (14) % 239 75 219 % Net (loss) income (24) 92 (126) % (1,864) 279 NMF Net income attributable to non-controlling interest 1 2 (50) % 7 9 (22) % Net (loss) income attributable to IFF shareholders
View on SEC.gov
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