Exhibit 99.3 INTERNATIONAL FLAVORS & FRAGRANCES INC. (Dollars in thousands) |
2003 | Quarter-to-date | Year-to-date | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1st Quarter | As reported | Germany and Switzerland Fruit Business | Pro-Forma | ||||||||||||
Net sales | $466,224 | 16,720 | $449,504 | ||||||||||||
Cost of goods sold | 270,447 | 12,615 | 257,832 | ||||||||||||
Gross margin on sales | 195,777 | 4,105 | 191,672 | ||||||||||||
Research & development | 38,962 | 377 | 38,585 | ||||||||||||
Selling and administrative | 76,115 | 1,102 | 75,013 | ||||||||||||
Amortization | 3,158 | -- | 3,158 | ||||||||||||
77,542 | 2,626 | 74,916 | |||||||||||||
Restructuring and other charges | (20,389 | ) | -- | (20,389 | ) | ||||||||||
Interest expense | (8,113 | ) | -- | (8,113 | ) | ||||||||||
Other income (expense), net | (2,526 | ) | -- | (2,526 | ) | ||||||||||
Pretax income | 46,514 | 2,626 | 43,888 | ||||||||||||
Income taxes | 14,497 | 818 | 13,679 | ||||||||||||
Net Income | $ 32,017 | 1,808 | $ 30,209 | ||||||||||||
2nd Quarter | As reported | Germany and Switzerland Fruit Business | Pro Forma | As reported | Germany and Switzerland Fruit Business | Pro Forma | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net sales | $482,611 | 18,051 | $464,560 | $948,835 | 34,771 | $914,064 | |||||||||
Cost of goods sold | 275,235 | 13,229 | 262,006 | 545,682 | 25,844 | 519,838 | |||||||||
Gross margin on sales | 207,376 | 4,822 | 202,554 | 403,153 | 8,927 | 394,226 | |||||||||
Research &development | 38,897 | 356 | 38,541 | 77,859 | 733 | 77,126 | |||||||||
Selling and administrative | 72,888 | 1,114 | 71,774 | 149,003 | 2,216 | 146,787 | |||||||||
Amortization | 3,158 | -- | 3,158 | 6,316 | -- | 6,316 | |||||||||
92,433 | 3,352 | 89,081 | 169,975 | 5,978 | 163,997 | ||||||||||
Restructuring and other charges | (6,715 | ) | -- | (6,715 | ) | (27,104 | ) | -- | (27,104 | ) | |||||
Interest expense | (7,957 | ) | -- | (7,957 | ) | (16,070 | ) | -- | (16,070 | ) | |||||
Other income (expense), net | (2,371 | ) | -- | (2,371 | ) | (4,897 | ) | -- | (4,897 | ) | |||||
Pretax income | 75,390 | 3,352 | 72,038 | 121,904 | 5,978 | 115,926 | |||||||||
Income taxes | 23,992 | 1,067 | 22,925 | 38,489 | 1,885 | 36,604 | |||||||||
Net Income | $ 51,398 | 2,285 | $ 49,113 | $ 83,415 | 4,093 | $ 79,322 | |||||||||
3rd Quarter | As reported | Germany and Switzerland Fruit Business | Pro Forma | As reported | Germany and Switzerland Fruit Business | Pro Forma | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net sales | $480,886 | 16,425 | $464,461 | $1,429,721 | 51,196 | $1,378,525 | |||||||||
Cost of goods sold | 278,191 | 11,917 | 266,274 | 823,873 | 37,761 | 786,112 | |||||||||
Gross margin on sales | 202,695 | 4,508 | 198,187 | 605,848 | 13,435 | 592,413 | |||||||||
Research & development | 39,184 | 370 | 38,814 | 117,043 | 1,103 | 115,940 | |||||||||
Selling and administrative | 75,638 | 1,095 | 74,543 | 224,641 | 3,311 | 221,330 | |||||||||
Amortization | 3,158 | -- | 3,158 | 9,474 | -- | 9,474 | |||||||||
84,715 | 3,043 | 81,672 | 254,690 | 9,021 | 245,669 | ||||||||||
Restructuring and other charges | (3,916 | ) | -- | (3,916 | ) | (31,020 | ) | -- | (31,020 | ) | |||||
Interest expense | (6,532 | ) | -- | (6,532 | ) | (22,602 | ) | -- | (22,602 | ) | |||||
Other income (expense), net | 446 | -- | 446 | (4,451 | ) | -- | (4,451 | ) | |||||||
Pretax income | 74,713 | 3,043 | 71,670 | 196,617 | 9,021 | 187,596 | |||||||||
Income taxes | 23,642 | 963 | 22,679 | 62,131 | 2,848 | 59,283 | |||||||||
Net Income | $ 51,071 | 2,080 | $ 48,991 | $ 134,486 | 6,173 | $ 128,313 | |||||||||
4th Quarter | As reported | Germany and Switzerland Fruit Business | Pro Forma | As reported | Germany and Switzerland Fruit Business | Pro Forma | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net sales | $471,799 | 14,088 | $457,711 | $1,901,520 | 65,284 | $1,836,236 | |||||||||
Cost of goods sold | 268,583 | 11,026 | 257,557 | 1,092,456 | 48,787 | 1,043,669 | |||||||||
Gross margin on sales | 203,216 | 3,062 | 200,154 | 809,064 | 16,497 | 792,567 | |||||||||
Research & development | 42,243 | 412 | 41,831 | 159,286 | 1,515 | 157,771 | |||||||||
Selling and administrative | 84,310 | 1,032 | 83,278 | 308,951 | 4,343 | 304,608 | |||||||||
Amortization | 3,158 | -- | 3,158 | 12,632 | -- | 12,632 | |||||||||
73,505 | 1,618 | 71,887 | 328,195 | 10,639 | 317,556 | ||||||||||
Restructuring and other charges | (11,401 | ) | -- | (11,401 | ) | (42,421 | ) | -- | (42,421 | ) | |||||
Interest expense | (5,875 | ) | -- | (5,875 | ) | (28,477 | ) | -- | (28,477 | ) | |||||
Other income (expense), net | (986 | ) | -- | (986 | ) | (5,437 | ) | -- | (5,437 | ) | |||||
Pretax income | 55,243 | 1,618 | 53,625 | 251,860 | 10,639 | 241,221 | |||||||||
Income taxes | 17,132 | 502 | 16,630 | 79,263 | 3,350 | 75,913 | |||||||||
Net Income | $ 38,111 | 1,116 | $ 36,995 | $ 172,597 | 7,289 | $ 165,308 | |||||||||