Item 6. SELECTED FINANCIAL DATA.

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Item 6. SELECTED FINANCIAL DATA.

INTERNATIONAL FLAVORS & FRAGRANCES INC.

QUARTERLY FINANCIAL DATA

(UNAUDITED)

This data should be read in conjunction with the Consolidated Financial Statements and Notes thereto, and with Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.


	Fiscal Year Ended December 31, 2020
(DOLLARS IN THOUSANDS EXCEPT PER SHARE AMOUNTS)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Total Year
Net Sales	$	1,347,317	$	1,198,773	$	1,268,076	$	1,270,073	$	5,084,239
Gross Profit*	565,867		481,842		524,427		513,730		2,085,866
Income before taxes	153,508		103,065		105,500		79,298		441,371
Net income	127,211		87,366		86,231		66,564		367,372
Net income attributable to IFF stockholders*	124,607		86,204		84,828		67,589		363,228
Net income per share — basic*	1.16		0.75		0.76		0.57		3.25
Net income per share — diluted*	1.15		0.74		0.75		0.57		3.21


	Fiscal Year Ended December 31, 2019
(DOLLARS IN THOUSANDS EXCEPT PER SHARE AMOUNTS)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Total Year
Net Sales	$	1,297,402	$	1,291,568	$	1,267,345	$	1,283,769	$	5,140,084
Gross Profit*	531,259		546,239		533,088		502,162		2,112,748
Income before taxes	134,576		169,481		156,866		96,529		557,452
Net income	111,214		138,869		129,807		80,378		460,268
Net income attributable to IFF stockholders*	108,829		136,377		127,124		83,543		455,873
Net income per share — basic*	0.97		1.21		1.15		0.71		4.05
Net income per share — diluted*	0.96		1.20		1.13		0.70		4.00

***The key variances quarter-over-quarter relate to the volume of restructuring, acquisition and integration related charges which are included in the total of Non-GAAP adjustments. Refer to the Non-GAAP reconciliation in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations for additional information.

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