Item 16. FORM 10-K SUMMARY.
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Item 16. FORM 10-K SUMMARY.
None.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| INTERNATIONAL FLAVORS & FRAGRANCES INC. | ||||||||
| By: | /s/ Glenn Richter | |||||||
| Name: | Glenn Richter | |||||||
| Title: | Executive Vice President and Chief Financial Officer |
Dated: February 28, 2022
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated:
| Signature | Title | Date | ||||||||||||
| /s/ Frank Clyburn | Chief Executive Officer and Director (Principal Executive Officer) | February 28, 2022 | ||||||||||||
| Frank Clyburn | ||||||||||||||
| /s/ Glenn Richter | Executive Vice President and Chief Financial Officer (Principal Financial Officer) | February 28, 2022 | ||||||||||||
| Glenn Richter | ||||||||||||||
| /s/ Robert Anderson | Senior Vice President, Corporate Controller and Chief Accounting Officer (Principal Accounting Officer) | February 28, 2022 | ||||||||||||
| Robert Anderson | ||||||||||||||
| /s/ Dale F. Morrison | Chairman of the Board, Director | February 28, 2022 | ||||||||||||
| Dale F. Morrison | ||||||||||||||
| /s/ Kathryn J. Boor | Director | February 28, 2022 | ||||||||||||
| Kathryn J. Boor | ||||||||||||||
| /s/ Edward D. Breen | Director | February 28, 2022 | ||||||||||||
| Edward D. Breen | ||||||||||||||
| /s/ Barry A. Bruno | Director | February 28, 2022 | ||||||||||||
| Barry A. Bruno | ||||||||||||||
| /s/ Carol Anthony (John) Davidson | Director | February 28, 2022 | ||||||||||||
| Carol Anthony (John) Davidson | ||||||||||||||
| /s/ Michael Ducker | Director | February 28, 2022 | ||||||||||||
| Michael Ducker | ||||||||||||||
| /s/ Roger W. Ferguson, Jr. | Director | February 28, 2022 | ||||||||||||
| Roger W. Ferguson, Jr. | ||||||||||||||
| /s/ John F. Ferraro | Director | February 28, 2022 | ||||||||||||
| John F. Ferraro | ||||||||||||||
| /s/ Christina Gold | Director | February 28, 2022 | ||||||||||||
| Christina Gold | ||||||||||||||
| /s/ Ilene Gordon | Director | February 28, 2022 | ||||||||||||
| Ilene Gordon | ||||||||||||||
| /s/ Matthias Heinzel | Director | February 28, 2022 | ||||||||||||
| Matthias Heinzel | ||||||||||||||
| /s/ Kåre Schultz | Director | February 28, 2022 | ||||||||||||
| Kåre Schultz | ||||||||||||||
| /s/ Stephen Williamson | Director | February 28, 2022 | ||||||||||||
| Stephen Williamson |
INTERNATIONAL FLAVORS & FRAGRANCES INC. AND SUBSIDIARIES
SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS AND RESERVES
(IN MILLIONS)
| For the Year Ended December 31, 2021 | |||||||||||||||||||||||||||||||||||||||||
| Balance at beginning of period | Additions (deductions) charged to costs and expenses | Acquisitions | Accounts written off | Translation adjustments | Other**(1)** | Balance at end of period | |||||||||||||||||||||||||||||||||||
| Allowance for doubtful accounts | $ | 21 | $ | 6 | $ | — | $ | (1) | $ | — | $ | 20 | $ | 46 | |||||||||||||||||||||||||||
| Valuation allowance on credit and operating loss carryforwards and other net deferred tax assets | 257 | (18) | 9 | — | (16) | — | 232 | ||||||||||||||||||||||||||||||||||
| For the Year Ended December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||
| Balance at beginning of period | Additions charged to costs and expenses | Acquisitions | Accounts written off | Translation adjustments | Other | Balance at end of period | |||||||||||||||||||||||||||||||||||
| Allowance for doubtful accounts | $ | 16 | $ | 6 | $ | — | $ | (1) | $ | — | $ | — | $ | 21 | |||||||||||||||||||||||||||
| Valuation allowance on credit and operating loss carryforwards and other net deferred tax assets | 204 | 35 | — | — | 18 | — | 257 | ||||||||||||||||||||||||||||||||||
| For the Year Ended December 31, 2019 | |||||||||||||||||||||||||||||||||||||||||
| Balance at beginning of period | Additions charged to costs and expenses | Acquisitions | Accounts written off | Translation adjustments | Other**(2)** | Balance at end of period | |||||||||||||||||||||||||||||||||||
| Allowance for doubtful accounts | $ | 9 | $ | 1 | $ | — | $ | (2) | $ | — | $ | 8 | $ | 16 | |||||||||||||||||||||||||||
| Valuation allowance on credit and operating loss carryforwards and other net deferred tax assets | 200 | 6 | — | — | (2) | — | 204 |
(1)The amount relates to adjustment to allowances for bad debts as a result of purchase price allocation related to the Merger with N&B.
(2)The amount relates to an adjustment to reflect the correct classification of amounts between the allowance for bad debts and Trade Receivables.
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Previous: Item 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES.