Employee Benefits (Tables)

6 Months Ended

Jun. 30, 2025

Pension and Other Defined Contribution Retirement Plan Expenses

Pension and other defined contribution retirement plan expenses included the following components:


(DOLLARS IN MILLIONS)	U.S. Plans(1)
	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024

Interest cost on projected benefit obligation(3)	$	—	$	5	$	1	$	11
Expected return on plan assets(3)	—		(6)		—		(12)
Net amortization and deferrals(3)	1		1		1		2
Net periodic benefit (income) cost	$	1	$	—	$	2	$	1


(DOLLARS IN MILLIONS)	Non-U.S. Plans
	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Service cost for benefits earned(2)	$	5	$	6	$	10	$	12
Interest cost on projected benefit obligation(3)	9		9		18		18
Expected return on plan assets(3)	(12)		(12)		(23)		(25)
Net amortization and deferrals(3)	1		1		2		3

Net periodic benefit (income) cost	$	3	$	4	$	7	$	8

_______________________

(1)The International Flavors & Fragrances Inc. Pension Plan (the “Plan”) was formally terminated on April 1, 2024, and settlements of the terminated Plan occurred during November 2024. The Company continues to administer several smaller non-qualified U.S. pension plans.

(2)Included as a component of Operating profit (loss).

(3)Included as a component of Other expense, net.

Postretirement Benefits Other Than Pension Expenses

Expense recognized for post-retirement benefits other than pensions included the following components:


	Three Months Ended June 30,				Six Months Ended June 30,
(DOLLARS IN MILLIONS)	2025		2024		2025		2024

Interest cost on projected benefit obligation	$	—	$	—	$	1	$	1
Net amortization and deferrals	—		—		(1)		(1)
Total postretirement benefit expense	$	—	$	—	$	—	$	—

INTERNATIONAL FLAVORS & FRAGRANCES INC 10-Q