IFF FY 2017 Earnings Report — International Flavors & Fragrances Inc. Revenue & Financial Results | Market Cap Arena

International Flavors & Fragrances Inc.IFF

FY 2017 Earnings

Reported February 27, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$3.4B	—	$3.1B	—	9.1%
Op. Income	$553M	—	$553M	—	-0.1%
Gross Margin	43.3%	—	44.8%	—	-1.5pp
Net Margin	8.7%	—	13.0%	—	-4.3pp
EPS (Diluted)	$3.72	—	$5.05	—	-26.3%
Free Cash Flow	$262M	—	$424M	—	-38.2%

Revenue Flow

Item	Amount
REVENUE	$3.4B
Cost of Revenue	$1.9B
GROSS PROFIT	$1.5B
R&D Expenses	$295M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$570M
Other Expenses	$54M
Operating Expenses	$920M
Cost & Expenses	$2.8B
OPERATING INCOME	$553M
Interest Income	$0
Interest Expense	$65M
Other Income/Expenses	-$16M
INCOME BEFORE TAX	$537M
Income Tax Expense	$241M
Net Income from Continuing Ops	$296M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$296M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$296M
D&A	$118M
EBIT	$602M
EBITDA	$720M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$3.4B
Cost of Revenue	$1.9B
GROSS PROFIT	$1.5B
R&D Expenses	$295M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$570M
Other Expenses	$54M
Operating Expenses	$920M
Cost & Expenses	$2.8B
OPERATING INCOME	$553M
Interest Income	$0
Interest Expense	$65M
Other Income/Expenses	-$16M
INCOME BEFORE TAX	$537M
Income Tax Expense	$241M
Net Income from Continuing Ops	$296M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$296M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$296M
D&A	$118M
EBIT	$602M
EBITDA	$720M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$296M
Depreciation & Amortization	$118M
Stock-Based Compensation	$27M
Deferred Income Tax	$59M
Other Non-Cash Items	-$108M
Change in Working Capital	-$633.0K
OPERATING CASH FLOW	$391M
Capital Expenditure	-$129M
Acquisitions (Net)	-$192M
Purchases of Investments	$0
Sales/Maturities of Investments	$1M
Other Investing Activities	$20M
NET CASH FROM INVESTING	-$300M
Net Debt Issuance	$238M
Common Stock Repurchased	-$58M
Common Dividends Paid	-$206M
Other Financing Activities	-$22M
NET CASH FROM FINANCING	-$43M
FREE CASH FLOW	$262M
Net Change in Cash	$44M

Balance Sheet

Item	Amount
Cash & Equivalents	$368M
Short-Term Investments	$0
Net Receivables	$879M
Inventory	$649M
Other Current Assets	-$215M
TOTAL CURRENT ASSETS	$1.9B
PP&E (Net)	$881M
Goodwill	$1.2B
Intangible Assets	$416M
Long-Term Investments	$0
Tax Assets	$100M
Other Non-Current Assets	$150M
TOTAL NON-CURRENT ASSETS	$2.7B
TOTAL ASSETS	$4.6B
Account Payables	$338M
Short-Term Debt	$7M
Deferred Revenue	$0
Other Current Liabilities	$177M
TOTAL CURRENT LIABILITIES	$769M
Long-Term Debt	$1.6B
Deferred Revenue NC	$37M
Deferred Tax Liabilities	$51M
Other Non-Current Liabilities	$420M
TOTAL NON-CURRENT LIABILITIES	$2.1B
TOTAL LIABILITIES	$2.9B
Common Stock	$14M
Additional Paid-In Capital	$163M
Retained Earnings	$3.9B
Treasury Stock	-$1.7B
Accum. Other Comp. Income	-$637M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$5M
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$4.6B
Total Debt	$1.6B
Net Debt	$1.3B