Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | International Flavors & Fragrances Inc. |
Entity Central Index Key | 0000051253 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Pay versus Performance ("PvP") As required by Item 402(v) of Regulation S-K, Year Summary Summary Compensation Compensation Average Non-CEO Average Non-CEO Value of Initial Net Income (Loss) ($ in Currency Total Peer Group (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) 2022 19,271,654 11,800,037 15,327,178 8,911,848 5,369,203 3,743,462 88 110 (1,871) 9.3% 2021 9,767,380 12,525,503 3,148,004 3,170,578 123 151 270 7.8% 2020 7,731,147 4,403,472 2,060,046 1,286,913 87 117 363 0.0% (1) Mr. Clyburn joined as our CEO and as a director and Chair of the Board on February 14, 2022. Mr. Fibig ceased serving as our CEO and as a director and Chair of the Board as of February 14, 2022 and departed the company on March 14, 2022. (2) Non-CEO (3) Non-CEO (4) Non-CEO (5) The Peer Group used for this calculation was the S&P 500 Specialty Chemicals Index which is also reported on Form 10-K (6) Net Income (Loss) reflected represents GAAP Net (Loss) Income as reported on Form 10-K 1.871 2.250 one-time 828 (7) Currency Neutral Sales Growth is the company-selected performance measure, per the requirements of Item 402(v) of Regulation S-K Mr. Clyburn Compensation To determine the amounts in column (d) in the PvP table, the following amounts were deducted from and added to (as applicable) Mr. Clyburn's total compensation as reported in the Summary Compensation Table ("SCT"), in accordance with Item 402(v) of Regulation S-K. Year SCT Total SCT Reported Equity Award SCT Reported Pension Benefit Compensation 2022 19,271,654 (16,511,105) 12,566,629 — — 15,327,178 (1) Represents the year-over-year change in the fair value of equity awards to Mr. Clyburn as summarized below: Year Year End Fair Year over Year Fair Value as of Year over Year Fair Value at the Value of Total Equity 2022 12,566,629 — — — — — 12,566,629 In the table above, the unvested equity values are computed in accordance with the methodology used for financial reporting purposes, and for unvested awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the year. Mr. Fibig Compensation To determine the amounts in column (e) in the PvP table, the following amounts were deducted from and added to (as applicable) Mr. Fibig's total compensation as reported in the Summary Compensation Table ("SCT"), in accordance with Item 402(v) of Regulation S-K. Year SCT Total for SCT Reported Equity Award SCT Reported Pension Benefit Compensation 2022 11,800,037 — (2,888,189) — — 8,911,848 2021 9,767,380 (5,723,445) 8,481,568 — — 12,525,503 2020 7,731,147 (5,031,869) 1,704,194 — — 4,403,472 (1) Represents t h Year Year End Fair Year over Year Fair Value as of Year over Year Fair Value at the Value of Total Equity 2022 — — — (2,888,189) — — (2,888,189) 2021 5,856,147 2,598,655 320,729 642,604 (1,132,404) 195,837 8,481,568 2020 3,862,811 (1,093,545) — (471,361) (771,141) 177,430 1,704,194 In the table above, the unvested equity values are computed in accordance with the methodology used for financial reporting p based Average Non-CEO To determine the amounts in column (g) in the PvP table, the following amounts were deducted from and added to (as applicable) our Non-CEO S-K. Year Average SCT Non-CEO Average SCT Non-CEO NEOs($) Average Equity Non-CEO SCT Reported Non-CEO($) Average Pension Non-CEO Average Non-CEO NEOs($) 2022 5,369,203 (3,085,500) 1,459,759 — — 3,743,462 2021 3,148,004 (1,514,851) 1,539,657 (2,232) — 3,170,578 2020 2,060,046 (1,056,088) 349,261 (66,306) — 1,286,913 (1) Represents the average of the year-over-year change in the fair value of equity awards to our Non-CEO (2) There is no service cost or prior service cost adjustment for pension benefits as the pension plan benefits applicable to NEOs were frozen for additional accruals as of December 31, 2007. Year Year End Fair Year over Year Fair Value as of Year over Year Fair Value at the Value of ($) Total Equity 2022 2,192,872 (220,228) 91,429 (337,314) (282,833) 15,833 1,459,759 2021 1,199,240 198,103 64,492 199,759 (137,688) 15,752 1,539,657 2020 733,010 (154,763) — (150,632) (110,451) 32,097 349,261 | ||
Company Selected Measure Name | Currency Neutral Sales Growth | ||
Named Executive Officers, Footnote [Text Block] | (1) Mr. Clyburn joined as our CEO and as a director and Chair of the Board on February 14, 2022. Mr. Fibig ceased serving as our CEO and as a director and Chair of the Board as of February 14, 2022 and departed the company on March 14, 2022. (2) Non-CEO (3) Non-CEO (4) Non-CEO | ||
Peer Group Issuers, Footnote [Text Block] | The Peer Group used for this calculation was the S&P 500 Specialty Chemicals Index which is also reported on Form 10-K | ||
Adjustment To PEO Compensation, Footnote [Text Block] | Mr. Clyburn Compensation To determine the amounts in column (d) in the PvP table, the following amounts were deducted from and added to (as applicable) Mr. Clyburn's total compensation as reported in the Summary Compensation Table ("SCT"), in accordance with Item 402(v) of Regulation S-K. Year SCT Total SCT Reported Equity Award SCT Reported Pension Benefit Compensation 2022 19,271,654 (16,511,105) 12,566,629 — — 15,327,178 (1) Represents the year-over-year change in the fair value of equity awards to Mr. Clyburn as summarized below: Year Year End Fair Year over Year Fair Value as of Year over Year Fair Value at the Value of Total Equity 2022 12,566,629 — — — — — 12,566,629 In the table above, the unvested equity values are computed in accordance with the methodology used for financial reporting purposes, and for unvested awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the year. Mr. Fibig Compensation To determine the amounts in column (e) in the PvP table, the following amounts were deducted from and added to (as applicable) Mr. Fibig's total compensation as reported in the Summary Compensation Table ("SCT"), in accordance with Item 402(v) of Regulation S-K. Year SCT Total for SCT Reported Equity Award SCT Reported Pension Benefit Compensation 2022 11,800,037 — (2,888,189) — — 8,911,848 2021 9,767,380 (5,723,445) 8,481,568 — — 12,525,503 2020 7,731,147 (5,031,869) 1,704,194 — — 4,403,472 (1) Represents t h Year Year End Fair Year over Year Fair Value as of Year over Year Fair Value at the Value of Total Equity 2022 — — — (2,888,189) — — (2,888,189) 2021 5,856,147 2,598,655 320,729 642,604 (1,132,404) 195,837 8,481,568 2020 3,862,811 (1,093,545) — (471,361) (771,141) 177,430 1,704,194 In the table above, the unvested equity values are computed in accordance with the methodology used for financial reporting p based | ||
Non-PEO NEO Average Total Compensation Amount | $ 5,369,203 | $ 3,148,004 | $ 2,060,046 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 3,743,462 | 3,170,578 | 1,286,913 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | Average Non-CEO To determine the amounts in column (g) in the PvP table, the following amounts were deducted from and added to (as applicable) our Non-CEO S-K. Year Average SCT Non-CEO Average SCT Non-CEO NEOs($) Average Equity Non-CEO SCT Reported Non-CEO($) Average Pension Non-CEO Average Non-CEO NEOs($) 2022 5,369,203 (3,085,500) 1,459,759 — — 3,743,462 2021 3,148,004 (1,514,851) 1,539,657 (2,232) — 3,170,578 2020 2,060,046 (1,056,088) 349,261 (66,306) — 1,286,913 (1) Represents the average of the year-over-year change in the fair value of equity awards to our Non-CEO (2) There is no service cost or prior service cost adjustment for pension benefits as the pension plan benefits applicable to NEOs were frozen for additional accruals as of December 31, 2007. Year Year End Fair Year over Year Fair Value as of Year over Year Fair Value at the Value of ($) Total Equity 2022 2,192,872 (220,228) 91,429 (337,314) (282,833) 15,833 1,459,759 2021 1,199,240 198,103 64,492 199,759 (137,688) 15,752 1,539,657 2020 733,010 (154,763) — (150,632) (110,451) 32,097 349,261 outcome vesting | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | Compensation Actually Paid ("CAP") vs. IFF 3-year 3-year As shown in the chart above, the compensation actually paid has increased while the TSR and peer TSR have varied. This is driven largely driven by the non-equity sign-on | ||
Compensation Actually Paid vs. Net Income [Text Block] | Compensation Actually Paid ("CAP") vs. Net-Income Net-Income Adjusted Net Income is included in the chart above as supplemental information as it excludes one-time 1.871 2.250 | ||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | Compensation Actually Paid ("CAP") vs. Company Selected Measure ("CSM"): Currency Neutral Sales Growth | ||
Total Shareholder Return Vs Peer Group [Text Block] | Compensation Actually Paid ("CAP") vs. IFF 3-year 3-year As shown in the chart above, the compensation actually paid has increased while the TSR and peer TSR have varied. This is driven largely driven by the non-equity sign-on | ||
Tabular List [Table Text Block] | Company-Selected Measure and Other Financial Performance Measures The following financial performance measures are used to link compensation actually paid to NEOs for the most recently completed fiscal years to company performance. Measure Description Company-Selected Measure Currency Neutral Sales Growth Measure 2 EBITDA Measure 3 Relative TSR Measure 4 ROIC | ||
Total Shareholder Return Amount | $ 88 | 123 | 87 |
Peer Group Total Shareholder Return Amount | 110 | 151 | 117 |
Net Income (Loss) | $ (1,871,000,000) | $ 270,000,000 | $ 363,000,000 |
Company Selected Measure Amount | 9.3 | 7.8 | 0 |
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Currency Neutral Sales Growth | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | EBITDA | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Relative TSR | ||
Measure [Axis]: 4 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | ROIC | ||
Mr Clyburn [Member] | |||
Pay vs Performance Disclosure [Table] | |||
PEO Total Compensation Amount | $ 19,271,654 | ||
PEO Actually Paid Compensation Amount | $ 15,327,178 | ||
PEO Name | Mr. Clyburn | ||
Mr Fibig [Member] | |||
Pay vs Performance Disclosure [Table] | |||
PEO Total Compensation Amount | $ 11,800,037 | $ 9,767,380 | $ 7,731,147 |
PEO Actually Paid Compensation Amount | $ 8,911,848 | 12,525,503 | 4,403,472 |
PEO Name | Mr. Fibig | ||
PEO [Member] | Mr Clyburn [Member] | Reported Equity Award Value [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (16,511,105) | ||
PEO [Member] | Mr Clyburn [Member] | Equity Award Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 12,566,629 | ||
PEO [Member] | Mr Clyburn [Member] | Reported Change in the Actuarial Present Value of Pension Benefits [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | ||
PEO [Member] | Mr Clyburn [Member] | Pension Benefit Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | ||
PEO [Member] | Mr Clyburn [Member] | Year End Fair Value of Unvested Equity Awards Granted in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 12,566,629 | ||
PEO [Member] | Mr Clyburn [Member] | Year over Year Change in Fair Value of Outstanding Unvested Equity Awards Granted in Prior Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | ||
PEO [Member] | Mr Clyburn [Member] | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | ||
PEO [Member] | Mr Clyburn [Member] | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | ||
PEO [Member] | Mr Clyburn [Member] | Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | ||
PEO [Member] | Mr Clyburn [Member] | Value of Dividends [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | ||
PEO [Member] | Mr Clyburn [Member] | Total Equity Award Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 12,566,629 | ||
PEO [Member] | Mr Fibig [Member] | Reported Equity Award Value [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | (5,723,445) | (5,031,869) |
PEO [Member] | Mr Fibig [Member] | Equity Award Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (2,888,189) | 8,481,568 | 1,704,194 |
PEO [Member] | Mr Fibig [Member] | Reported Change in the Actuarial Present Value of Pension Benefits [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
PEO [Member] | Mr Fibig [Member] | Pension Benefit Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
PEO [Member] | Mr Fibig [Member] | Year End Fair Value of Unvested Equity Awards Granted in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 5,856,147 | 3,862,811 |
PEO [Member] | Mr Fibig [Member] | Year over Year Change in Fair Value of Outstanding Unvested Equity Awards Granted in Prior Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 2,598,655 | (1,093,545) |
PEO [Member] | Mr Fibig [Member] | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 320,729 | 0 |
PEO [Member] | Mr Fibig [Member] | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (2,888,189) | 642,604 | (471,361) |
PEO [Member] | Mr Fibig [Member] | Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | (1,132,404) | (771,141) |
PEO [Member] | Mr Fibig [Member] | Value of Dividends [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 195,837 | 177,430 |
PEO [Member] | Mr Fibig [Member] | Total Equity Award Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (2,888,189) | 8,481,568 | 1,704,194 |
Non-PEO NEO [Member] | Reported Equity Award Value [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (3,085,500) | (1,514,851) | (1,056,088) |
Non-PEO NEO [Member] | Equity Award Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 1,459,759 | 1,539,657 | 349,261 |
Non-PEO NEO [Member] | Reported Change in the Actuarial Present Value of Pension Benefits [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | (2,232) | (66,306) |
Non-PEO NEO [Member] | Pension Benefit Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
Non-PEO NEO [Member] | Year End Fair Value of Unvested Equity Awards Granted in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 2,192,872 | 1,199,240 | 733,010 |
Non-PEO NEO [Member] | Year over Year Change in Fair Value of Outstanding Unvested Equity Awards Granted in Prior Years [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (220,228) | 198,103 | (154,763) |
Non-PEO NEO [Member] | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 91,429 | 64,492 | 0 |
Non-PEO NEO [Member] | Year over Year Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (337,314) | 199,759 | (150,632) |
Non-PEO NEO [Member] | Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (282,833) | (137,688) | (110,451) |
Non-PEO NEO [Member] | Value of Dividends [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 15,833 | 15,752 | 32,097 |
Non-PEO NEO [Member] | Total Equity Award Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 1,459,759 | $ 1,539,657 | $ 349,261 |