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IFF Reports Second Quarter 2012 Adjusted EPS Growth Of 11% To $1.08 Per Share

Stocks in this article: IFF

International Flavors & Fragrances Inc. Reconciliation of Income (Amounts in thousands) (Unaudited)

The following information and schedules provide reconciliation information between reported GAAP amounts and certain adjusted amounts. This information and schedules is not intended as, and should not be viewed as, a substitute for reported GAAP amounts or financial statements of the Company prepared and presented in accordance with GAAP.

  Second Quarter Year-to-Date 2012
Items Impacting Comparability

Reported (GAAP)


Restructuring & Other Costs


Adjusted (Non-GAAP)

Net Sales 1,431,933 -
Cost of Goods Sold 844,991 -
Gross Profit 586,942 -
Research and Development 113,809 -
Selling and Administrative 218,249 -
RSA Expense 332,058 -
Restructuring and other charges, net 1,668 (1,668) (a) -
Operating Profit 253,216 1,668 254,884
Interest Income 21,423 -
Other (income) expense, net (1,088) -
Income before taxes 232,881 1,668 234,549
Taxes on Income 63,230 (621) 63,851
Net Income 169,651   1,047     170,698
Earnings per share - diluted $2.06 $0.01 (b) $2.08
(a) Related to restructuring program announced in Q1 2012
(b) The sum of these items may not tie due to rounding

  Second Quarter Year-to-Date 2011
Items Impacting Comparability

Reported (GAAP)


Restructuring & Other Costs


Adjusted (Non-GAAP)

Net Sales 1,429,860 -
Cost of Goods Sold 847,977 -
Gross Profit 581,883 -
Research and Development 113,685 -
Selling and Administrative 212,843 -
RSA Expense 326,528 -
Restructuring and other charges, net 4,013 (4,013) (a) -
Operating Profit 251,342 4,013 255,355
Interest Income 23,689 -
Other (income) expense, net 7,111 -
Income before taxes 220,542 4,013 224,555
Taxes on Income 60,311 (993) 61,304
Net Income 160,231   3,020     163,251
Earnings per share - diluted $1.96 $0.04 $2.00
(a) Related to restructuring program announced in Q3 2009

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