IFF FY 2011 Earnings Report — International Flavors & Fragrances Inc. Revenue & Financial Results | Market Cap Arena

International Flavors & Fragrances Inc.IFF

FY 2011 Earnings

Reported February 28, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$2.8B	—	$2.6B	—	6.3%
Op. Income	$441M	—	$416M	—	5.9%
Gross Margin	39.6%	—	41.7%	—	-2.0pp
Net Margin	9.6%	—	10.0%	—	-0.5pp
EPS (Diluted)	$3.26	—	$3.26	—	0.0%
Free Cash Flow	$62M	—	$209M	—	-70.4%

Revenue Flow

Item	Amount
REVENUE	$2.8B
Cost of Revenue	$1.7B
GROSS PROFIT	$1.1B
R&D Expenses	$220M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$444M
Other Expenses	$441M
Operating Expenses	$1.1B
Cost & Expenses	$2.8B
OPERATING INCOME	$441M
Interest Income	$0
Interest Expense	$45M
Other Income/Expenses	-$67M
INCOME BEFORE TAX	$374M
Income Tax Expense	$107M
Net Income from Continuing Ops	$267M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$267M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$267M
D&A	$75M
EBIT	$418M
EBITDA	$494M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$2.8B
Cost of Revenue	$1.7B
GROSS PROFIT	$1.1B
R&D Expenses	$220M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$444M
Other Expenses	$441M
Operating Expenses	$1.1B
Cost & Expenses	$2.8B
OPERATING INCOME	$441M
Interest Income	$0
Interest Expense	$45M
Other Income/Expenses	-$67M
INCOME BEFORE TAX	$374M
Income Tax Expense	$107M
Net Income from Continuing Ops	$267M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$267M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$267M
D&A	$75M
EBIT	$418M
EBITDA	$494M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$267M
Depreciation & Amortization	$75M
Stock-Based Compensation	$21M
Deferred Income Tax	$25M
Other Non-Cash Items	$399.0K
Change in Working Capital	-$199M
OPERATING CASH FLOW	$189M
Capital Expenditure	-$127M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	-$2M
Other Investing Activities	-$1M
NET CASH FROM INVESTING	-$131M
Net Debt Issuance	-$31M
Common Stock Repurchased	$0
Common Dividends Paid	-$90M
Other Financing Activities	$21M
NET CASH FROM FINANCING	-$101M
FREE CASH FLOW	$62M
Net Change in Cash	-$43M

Balance Sheet

Item	Amount
Cash & Equivalents	$88M
Short-Term Investments	$0
Net Receivables	$630M
Inventory	$544M
Other Current Assets	-$104M
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$608M
Goodwill	$666M
Intangible Assets	$43M
Long-Term Investments	$0
Tax Assets	$152M
Other Non-Current Assets	$180M
TOTAL NON-CURRENT ASSETS	$1.6B
TOTAL ASSETS	$3.0B
Account Payables	$209M
Short-Term Debt	$117M
Deferred Revenue	$0
Other Current Liabilities	$127M
TOTAL CURRENT LIABILITIES	$565M
Long-Term Debt	$778M
Deferred Revenue NC	$48M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$468M
TOTAL NON-CURRENT LIABILITIES	$1.3B
TOTAL LIABILITIES	$1.9B
Common Stock	$14M
Additional Paid-In Capital	$129M
Retained Earnings	$2.7B
Treasury Stock	-$1.4B
Accum. Other Comp. Income	-$375M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$3M
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$3.0B
Total Debt	$884M
Net Debt	$796M