IFF FY 2014 Earnings Report — International Flavors & Fragrances Inc. Revenue & Financial Results | Market Cap Arena

International Flavors & Fragrances Inc.IFF

FY 2014 Earnings

Reported March 2, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$3.1B	—	$3.0B	—	4.6%
Op. Income	$592M	—	$516M	—	14.7%
Gross Margin	44.1%	—	43.5%	—	0.6pp
Net Margin	13.4%	—	12.0%	—	1.4pp
EPS (Diluted)	$5.06	—	$4.29	—	17.9%
Free Cash Flow	$375M	—	$273M	—	37.2%

Revenue Flow

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$1.7B
GROSS PROFIT	$1.4B
R&D Expenses	$254M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$508M
Other Expenses	$9M
Operating Expenses	$770M
Cost & Expenses	$2.5B
OPERATING INCOME	$592M
Interest Income	$0
Interest Expense	$46M
Other Income/Expenses	-$43M
INCOME BEFORE TAX	$549M
Income Tax Expense	$135M
Net Income from Continuing Ops	$415M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$415M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$415M
D&A	$89M
EBIT	$595M
EBITDA	$684M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$1.7B
GROSS PROFIT	$1.4B
R&D Expenses	$254M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$508M
Other Expenses	$9M
Operating Expenses	$770M
Cost & Expenses	$2.5B
OPERATING INCOME	$592M
Interest Income	$0
Interest Expense	$46M
Other Income/Expenses	-$43M
INCOME BEFORE TAX	$549M
Income Tax Expense	$135M
Net Income from Continuing Ops	$415M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$415M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$415M
D&A	$89M
EBIT	$595M
EBITDA	$684M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$415M
Depreciation & Amortization	$89M
Stock-Based Compensation	$23M
Deferred Income Tax	$23M
Other Non-Cash Items	-$4M
Change in Working Capital	-$28M
OPERATING CASH FLOW	$518M
Capital Expenditure	-$143M
Acquisitions (Net)	-$103M
Purchases of Investments	$0
Sales/Maturities of Investments	$3M
Other Investing Activities	$21M
NET CASH FROM INVESTING	-$221M
Net Debt Issuance	$11M
Common Stock Repurchased	-$88M
Common Dividends Paid	-$133M
Other Financing Activities	$7M
NET CASH FROM FINANCING	-$202M
FREE CASH FLOW	$375M
Net Change in Cash	$73M

Balance Sheet

Item	Amount
Cash & Equivalents	$479M
Short-Term Investments	$0
Net Receivables	$635M
Inventory	$569M
Other Current Assets	-$114M
TOTAL CURRENT ASSETS	$1.7B
PP&E (Net)	$720M
Goodwill	$675M
Intangible Assets	$77M
Long-Term Investments	$0
Tax Assets	$183M
Other Non-Current Assets	$129M
TOTAL NON-CURRENT ASSETS	$1.8B
TOTAL ASSETS	$3.5B
Account Payables	$216M
Short-Term Debt	$8M
Deferred Revenue	$0
Other Current Liabilities	$147M
TOTAL CURRENT LIABILITIES	$519M
Long-Term Debt	$934M
Deferred Revenue NC	$47M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$472M
TOTAL NON-CURRENT LIABILITIES	$1.5B
TOTAL LIABILITIES	$2.0B
Common Stock	$14M
Additional Paid-In Capital	$140M
Retained Earnings	$3.4B
Treasury Stock	-$1.4B
Accum. Other Comp. Income	-$540M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.5B
Minority Interest	$4M
TOTAL EQUITY	$1.5B
TOTAL LIABILITIES & EQUITY	$3.5B
Total Debt	$942M
Net Debt	$464M