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December 31,

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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2018	Feb. 15, 2019	Jun. 30, 2018
Entity Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Trading Symbol	IFF
Entity Registrant Name	INTERNATIONAL FLAVORS & FRAGRANCES INC
Entity Central Index Key	0000051253
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		106,633,296
Entity Public Float			$ 9,798,569,059

CONSOLIDATED STATEMENT OF INCOME AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Net sales	$ 3,977,539	$ 3,398,719	$ 3,116,350
Cost of goods sold	2,294,832	1,926,256	1,720,787
Gross Profit	1,682,707	1,472,463	1,395,563
Research and development expenses	311,583	295,469	258,863
Selling and administrative expenses	707,461	570,144	572,518
Restructuring and other charges, net	5,079	19,711	(1,700)
Amortization of acquisition-related intangibles	75,879	34,693	23,763
Gains on sale of assets	(1,177)	(184)	(10,836)
Operating Profit	583,882	552,630	552,955
Interest expense	132,558	65,363	52,989
Loss on extinguishment of debt	38,810	0	0
Other income, net	(35,243)	(49,778)	(23,751)
Income before taxes	447,757	537,045	523,717
Taxes on income	107,976	241,380	118,686
Net income	339,781	295,665	405,031
Net income attributable to noncontrolling interests	2,479	0	0
Net income available to IFF common shareholders	337,302	295,665	405,031
Other comprehensive income (loss):
Foreign currency translation adjustments	(99,580)	54,609	(54,526)
Gains (losses) on derivatives qualifying as hedges	15,078	(17,936)	(1,797)
Pension and postretirement liability adjustment	19,757	5,940	(10,332)
Comprehensive income attributable to IFF stockholders	$ 272,557	$ 338,278	$ 338,376
Net income per share - basic (in dollars per share)	$ 3.81	$ 3.73	$ 5.07
Net income per share - diluted (in dollars per share)	$ 3.79	$ 3.72	$ 5.05
Average number of shares outstanding - basic (in shares)	87,551	79,070	79,648
Average number of shares outstanding - diluted (in shares)	88,121	79,370	79,981

CONSOLIDATED BALANCE SHEET - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Current Assets:
Cash and cash equivalents	$ 634,897,000	$ 368,046,000
Restricted cash	13,625,000	0
Receivables:
Trade	946,938,000	677,055,000
Allowance for doubtful accounts	(9,173,000)	(13,392,000)
Inventories	1,078,537,000	649,448,000
Prepaid expenses and other current assets	277,036,000	215,387,000
Total Current Assets	2,941,860,000	1,896,544,000
Property, plant and equipment, net	1,241,152,000	880,580,000
Goodwill	5,378,388,000	1,156,288,000
Other intangible assets, net	3,039,322,000	415,787,000
Other assets	288,673,000	249,727,000
Total Assets	12,889,395,000	4,598,926,000
Current Liabilities:
Bank borrowings, overdrafts and current portion of long-term debt	48,642,000	6,966,000
Accounts payable	471,382,000	338,188,000
Dividends payable	77,779,000	54,420,000
Other current liabilities	530,508,000	369,194,000
Total Current Liabilities	1,128,311,000	768,768,000
Other Liabilities:
Long-term debt	4,504,417,000	1,632,186,000
Deferred gains	31,366,000	37,344,000
Retirement liabilities	227,172,000	228,936,000
Deferred income taxes	655,879,000	51,104,000
Other liabilities	217,070,000	191,294,000
Total Other Liabilities	5,635,904,000	2,140,864,000
Commitments and Contingencies (Note 20)
Redeemable non-controlling interests	81,806,000	0
Shareholders’ Equity:
Common stock 12 1/2¢ par value; 500,000,000 shares authorized; 128,526,137 and 115,858,190 shares issued as of December 31, 2018 and December 31, 2017, respectively; and 106,619,202 and 78,947,381 shares outstanding as of December 31, 2018 and December 31, 2017, respectively	16,066,000	14,470,000
Capital in excess of par value	3,793,609,000	162,827,000
Retained earnings	3,956,221,000	3,870,621,000
Accumulated other comprehensive loss:
Cumulative translation adjustments	(396,996,000)	(297,416,000)
Accumulated gains (losses) on derivatives qualifying as hedges	4,746,000	(10,332,000)
Pension and postretirement liability adjustment	(309,977,000)	(329,734,000)
Treasury stock, at cost (21,906,935 and 36,910,809 shares as of December 31, 2018 and December 31, 2017, respectively)	(1,030,718,000)	(1,726,234,000)
Total Shareholders’ Equity	6,032,951,000	1,684,202,000
Noncontrolling interests	10,423,000	5,092,000
Total Shareholders’ Equity including noncontrolling interests	6,043,374,000	1,689,294,000
Total Liabilities and Shareholders’ Equity	$ 12,889,395,000	$ 4,598,926,000

CONSOLIDATED BALANCE SHEET (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.125	$ 0.125
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	128,526,137	115,858,190
Common stock, shares outstanding	106,619,202	78,947,381
Treasury stock, shares at cost	21,906,935	36,910,809

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net income	$ 339,781	$ 295,665	$ 405,031
Adjustments to reconcile to net cash provided by operating activities:
Depreciation and amortization	173,792	117,967	102,469
Deferred income taxes	19,402	58,889	14,350
Gains on sale of assets	(1,177)	(184)	(10,836)
Stock-based compensation	29,401	26,567	24,587
Loss on extinguishment of debt	38,810	0	0
Gain on deal contingent derivatives	(12,505)	0	0
Pension contributions	(22,433)	(39,298)	(46,347)
Litigation settlement	0	(56,000)	0
Product recall claim settlement, net of insurance proceeds received	235	0	0
Foreign currency gain on liquidation of entity	0	(12,217)	0
Changes in assets and liabilities, net of acquisitions:
Changes in assets and liabilities, net of acquisitions:	(49,958)	(68,851)	(21,544)
Trade receivables	(117,641)	(18,911)	15,452
Inventories	55,136	29,114	(7,642)
Accounts payable	(2,289)	19,144	12,133
Accruals for incentive compensation	(5,279)	22,679	49,103
Other assets	(19,219)	(3,866)	(1,067)
Other liabilities	11,519	20,058	14,450
Net cash provided by operating activities	437,575	390,756	550,139
Cash flows from investing activities:
Cash paid for acquisitions, net of cash received	(4,857,343)	(192,328)	(236,836)
Additions to property, plant and equipment	(170,094)	(128,973)	(126,412)
Additions to intangible assets	(3,326)	0	0
Proceeds from disposal of assets	8,176	16,139	6,856
Proceeds from disposal of subsidiaries, net of cash held	10,157	0	0
Maturity of net investment hedges	(2,642)	1,434	637
Proceeds from life insurance contracts	1,837	3,798	292
Net cash used in investing activities	(5,013,235)	(299,930)	(355,463)
Cash flows from financing activities:
Cash dividends paid to shareholders	(230,218)	(206,118)	(184,897)
Decrease in revolving credit facility and short term borrowing	(927)	(4,499)	(131,074)
Deferred financing costs	(33,668)	(5,373)	(5,788)
Repayments of debt	(376,625)	(250,000)	(125,000)
Proceeds from issuance of long-term debt	(3,256,742)	(498,250)	(555,559)
Proceeds from sales of equity securities, net of issuance costs	2,268,094	0	0
Gain (loss) on pre-issuance hedges	12,505	(5,310)	(3,244)
Proceeds from issuance of stock in connection with stock plans	0	329	813
Employee withholding taxes paid	(9,725)	(11,768)	(13,353)
Purchase of treasury stock	(15,475)	(58,069)	(127,443)
Net cash provided by (used in) financing activities	4,870,703	(42,558)	(34,427)
Effect of exchange rate changes on cash and cash equivalents	(14,567)	(4,214)	(18,245)
Net change in cash, cash equivalents and restricted cash	280,476	44,054	142,004
Cash, cash equivalents and restricted cash at beginning of year	368,046	323,992	181,988
Cash, cash equivalents and restricted cash at end of year	648,522	368,046	323,992
Cash paid for:
Interest, net of amounts capitalized	117,581	55,440	50,576
Income taxes	116,138	107,390	107,898
Noncash investing activities:
Accrued capital expenditures	$ 33,844	$ 37,556	$ 26,049

CONSOLIDATED STATEMENT OF SHAREHOLDERS EQUITY - USD ($) $ in Thousands	Total	Common stock [Member]	Capital in excess of par value [Member]	Retained earnings [Member]	Accumulated other comprehensive (loss) income [Member]	Treasury stock [Member]	Non-controlling interest [Member]
Beginning Balance at Dec. 31, 2015	$ 1,594,989	$ 14,470	$ 140,802	$ 3,604,254	$ (613,440)	$ (1,555,769)	$ 4,672
Beginning Balance, shares at Dec. 31, 2015						(35,835,899)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	405,249			405,031			218
Cumulative translation adjustment	(54,526)				(54,526)
Gains (losses) on derivatives qualifying as hedges; net of tax	(1,797)				(1,797)
Pension liability and postretirement adjustment; net of tax	(10,332)				(10,332)
Cash dividends declared	(190,750)			(190,750)
Stock options	10,287		8,952			$ 1,335
Stock options, shares						30,015
Treasury share repurchases, shares						(1,058,018)
Treasury share repurchases, value	(127,443)					$ (127,443)
Vested restricted stock units and awards, value	(19,130)		(21,860)			$ 2,730
Vested restricted stock units and awards, shares						218,749
Stock-based compensation, value	24,587		24,587
Ending Balance at Dec. 31, 2016	1,631,134	14,470	152,481	3,818,535	(680,095)	$ (1,679,147)	4,890
Ending Balance, shares at Dec. 31, 2016						(36,645,153)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative adjustment \| Accounting Standards Update 2016-16 [Member]	(33,719)			(33,719)
Net income	295,867			295,665			202
Cumulative translation adjustment	54,609				54,609
Gains (losses) on derivatives qualifying as hedges; net of tax	(17,936)				(17,936)
Pension liability and postretirement adjustment; net of tax	5,940				5,940
Cash dividends declared	(209,860)			(209,860)
Stock options	5,766		4,558			$ 1,208
Stock options, shares						24,423
Treasury share repurchases, shares						(459,264)
Treasury share repurchases, value	(58,069)					$ (58,069)
Vested restricted stock units and awards, value	(11,005)		(20,779)			$ 9,774
Vested restricted stock units and awards, shares						169,185
Stock-based compensation, value	26,567		26,567
Ending Balance at Dec. 31, 2017	$ 1,689,294	14,470	162,827	3,870,621	(637,482)	$ (1,726,234)	5,092
Ending Balance, shares at Dec. 31, 2017	(36,910,809)					(36,910,809)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative adjustment \| Accounting Standards Update 2014-09 [Member]	$ 2,068			2,068
Net income	338,933			337,302			1,631
Cumulative translation adjustment	(99,580)				(99,580)
Gains (losses) on derivatives qualifying as hedges; net of tax	15,078				15,078
Pension liability and postretirement adjustment; net of tax	19,757				19,757
Cash dividends declared	(253,577)			(253,577)
Stock options	4,340		2,152			$ 2,188
Stock options, shares						46,474
Impact of Frutarom acquisition	2,051,040		1,346,229			$ 701,111	3,700
Impact of Frutarom acquisition, shares						14,901,445
Treasury share repurchases, shares						(108,109)
Treasury share repurchases, value	(15,475)					$ (15,475)
Vested restricted stock units and awards, value	(2,958)		(10,650)			$ 7,692
Vested restricted stock units and awards, shares						164,064
Stock-based compensation, value	29,401		29,401
Issuance of equity	2,268,094	1,596	2,266,498
Redeemable NCI	(2,848)		(2,848)
Other	(193)			(193)
Ending Balance at Dec. 31, 2018	$ 6,043,374	$ 16,066	$ 3,793,609	$ 3,956,221	$ (702,227)	$ (1,030,718)	$ 10,423
Ending Balance, shares at Dec. 31, 2018	(21,906,935)					21,906,935

CONSOLIDATED STATEMENT OF SHAREHOLDERS EQUITY (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement of Stockholders' Equity [Abstract]
Tax effect of gain (losses) on derivatives qualifying as hedges	$ 2,017	$ (227)	$ 463
Tax effect of pension liability and postretirement adjustment	$ (1,583)	$ 3,049	$ (29,452)
Cash dividends declared, per share	$ 2.84	$ 2.66	$ 2.40

Nature of Operations and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Nature of Operations and Summary of Significant Accounting Policies

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Operations International Flavors & Fragrances Inc. and its subsidiaries (the “Registrant,” “IFF,” “the Company,” “we,” “us” and “our”) is a leading creator and manufacturer of tastes and scents (including cosmetic active ingredients) used to impart or improve taste and scent in a wide variety of consumer products. Our products are sold principally to manufacturers of perfumes and cosmetics, hair and other personal care products, soaps and detergents, cleaning products, dairy, meat and other processed foods, beverages, snacks and savory foods, sweet and baked goods, and pharmaceutical and oral care products.

Fiscal Year End The Company has historically operated on a 52/53 week fiscal year generally ending on the Friday closest to the last day of the year. For ease of presentation, December 31 is used consistently throughout the financial statements and notes to represent the period-end date. The 2018, 2017 and 2016 fiscal years were 52 week periods. For the 2018, 2017 and 2016 fiscal years, the actual closing dates were December 28, December 29, and December 30, respectively.

Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts and accompanying disclosures. These estimates are based on management’s best knowledge of current events and actions the Company may undertake in the future. Actual results may ultimately differ from estimates.

Principles of Consolidation The consolidated financial statements include the accounts of International Flavors & Fragrances Inc. and those of its subsidiaries. Significant intercompany balances and transactions have been eliminated. To the extent a subsidiary is not wholly owned, any related noncontrolling interests are included as a separate component of Shareholders’ Equity.

Revenue Recognition Revenue from contracts with customers is recognized when the contract or purchase order has received approval and commitment from both parties, has the rights of the parties and payment terms (which can vary by customer) identified, has commercial substance, and collectability of consideration is probable.

For the Company's Flavors, Fragrances Compounds and Frutarom products, revenue is recognized for the majority of contracts when the Company satisfies its performance obligation by transferring control of the goods to the customer. Revenue is recognized over time for a small number of contracts, and the amount of revenue recognized is based on the extent of progress towards completion of the promised goods, using the output method.

For the Company's Fragrances Ingredients products, revenue is recognized for the majority of contracts when the Company satisfies its performance obligation by transferring control of the goods to the customer.

Sales are reduced, at the time revenue is recognized, for applicable discounts, rebates and sales allowances based on historical experience. Related accruals are included in Other current liabilities in the accompanying Consolidated Balance Sheet.

The Company considers shipping and handling activities undertaken after the customer has obtained control of the related goods as a fulfillment activity. Net sales include shipping and handling charges billed to customers. Cost of goods sold includes all costs incurred in connection with shipping and handling.

Foreign Currency Translation The Company translates the assets and liabilities of non-U.S. subsidiaries into U.S. dollars at year-end exchange rates. Income and expense items are translated at average exchange rates during the year. Cumulative translation adjustments are shown as a separate component of Shareholders’ Equity.

Research and Development Research and development (“R&D”) expenses relate to the development of new and improved tastes or scents, technical product support and compliance with governmental regulation. All research and development costs are expensed as incurred.

Cash Equivalents Cash equivalents include highly liquid investments with maturities of three months or less at date of purchase.

Restricted Cash Restricted cash is comprised of cash or cash equivalents which has been placed into an account that is restricted for a specific use and from which the Company cannot withdraw the cash on demand.

Accounts Receivable The Company sells certain accounts receivable on a non-recourse basis to unrelated financial institutions under “factoring” agreements that are sponsored, solely and individually, by certain customers. The Company accounts for these transactions as sale of receivables, removes the receivables sold from its financial statements, and records cash proceeds when received by the Company. The beneficial impact on cash provided by operations from participating in these programs decreased approximately $16.9 million in 2018, compared to an increase of approximately $7.6 million and $34 million in 2017 and 2016, respectively. The cost of participating in these programs was immaterial to our results in all periods.

Inventories Inventories are stated at the lower of cost (on a weighted-average basis) or net realizable value. Our inventories consisted of the following:



	December 31,
(DOLLARS IN THOUSANDS)	2018		2017
Raw materials	$	568,916	$	326,140
Work in process	48,819		16,431
Finished goods	460,802		306,877
Total	$	1,078,537	$	649,448

Long-Lived Assets

Property, Plant and Equipment Property, plant and equipment are recorded at cost. Depreciation is calculated on a straight-line basis, principally over the following estimated useful lives: buildings and improvements, 10 to 40 years; machinery and equipment, 3 to 20 years; information technology hardware and software, 3 to 7 years; and leasehold improvements which are included in buildings and improvements, the estimated life of the improvements or the remaining term of the lease, whichever is shorter.

Finite-Lived Intangible Assets Finite-lived intangible assets include customer relationships, patents, trade names, technological know-how and other intellectual property valued at acquisition and amortized on a straight-line basis over the following estimated useful lives: customer relationships, 11 - 23 years; patents, 11 years; trade names, 14 - 28 years; and technological know-how, 5 - 28 years.

The Company reviews long-lived assets for impairment when events or changes in business conditions indicate that their full carrying value may not be recovered. An estimate of undiscounted future cash flows produced by an asset or group of assets is compared to the carrying value to determine whether impairment exists. If assets are determined to be impaired, the loss is measured based on an estimate of fair value using various valuation techniques, including a discounted estimate of future cash flows.

Goodwill Goodwill represents the difference between the total purchase price and the fair value of identifiable assets and liabilities acquired in business acquisitions.

In assessing the potential for impairment of goodwill, management uses the most current actual and forecasted operating data available and current market-based assumptions in accordance with the criteria in Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 350. The Company has identified five reporting units: (1) Flavor Compounds, (2) Fragrance Compounds, (3) Fragrance Ingredients, (4) Cosmetic Actives Ingredients and (5) Frutarom. These reporting units were determined based on the level at which the performance is measured and reviewed by segment management. In the case of Frutarom, the reporting unit determination is preliminary and is subject to change.

The Company performs an annual goodwill impairment test for its reporting units by assessing the fair value of the reporting units based on discounted cash flows. If a reporting unit’s carrying amount exceeds its fair value, the Company will record an impairment charge based on that difference, and the impairment charge will be limited to the amount of goodwill allocated to that reporting unit. The Company completed its annual goodwill impairment test as of November 30, 2018, which indicated no impairment of goodwill as the estimated fair values substantially exceeded the carrying values of each of these reporting units, except for the recently acquired Frutarom reporting unit for which the fair value is expected to approximate the carrying value.

Income Taxes The Company accounts for taxes under the asset and liability method. Under this method, deferred income taxes are recognized for temporary differences between the financial statement and tax return bases of assets and liabilities, based on enacted tax rates and other provisions of the tax law. The effect of a change in tax laws or rates on deferred tax assets and liabilities is recognized as income in the period in which such change is enacted. Future tax benefits are recognized to the extent that the realization of such benefits is more likely than not, and a valuation allowance is established for any portion of a deferred tax asset that management believes may not be realized.

The Company recognizes uncertain tax positions that it has taken or expects to take on a tax return. Pursuant to accounting requirements, the Company first determines whether it is “more likely than not” its tax position will be sustained if the relevant tax authority were to audit the position with full knowledge of all the relevant facts and other information. For those tax positions that meet this threshold, the Company measures the amount of tax benefit based on the largest amount of tax benefit that it has a greater than 50% chance of realizing in a final settlement with the relevant authority. Those tax positions failing to qualify for initial recognition are recognized in the first interim period in which they meet the more likely than not standard. The Company maintains a cumulative risk portfolio relating to all of its uncertainties in income taxes in order to perform this analysis, but the evaluation of its tax positions requires significant judgment and estimation in part because, in certain cases, tax law is subject to varied interpretation, and whether a tax position will ultimately be sustained may be uncertain.

Interest and penalties related to unrecognized tax benefits are recognized as a component of income tax expense.

U.S. Tax Reform

On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”) that significantly revised the U.S. tax code effective January 1, 2018 by, among other things, lowering the corporate income tax rate from a top marginal rate of 35% to a flat 21%, limiting deductibility of interest expense and performance based incentive compensation, transitioning to a territorial system and creating new taxes associated with global operations.

In the fourth quarter of 2017, the Company recorded approximately $139.2 million in charges related to the impact of the Tax Act. Given the significant complexity of the Tax Act, anticipated guidance from the U.S. Treasury about implementing the Tax Act and the potential for additional guidance from the SEC or the FASB, the amount recorded by the Company in the fourth quarter of 2017 was provisional and has been adjusted during 2018. The impact of the Tax Act was finalized in the fourth quarter of 2018.

During the first quarter of 2018, the Company recorded an additional charge of $0.6 million to adjust an accrual related to withholding taxes on planned repatriations. During the second quarter of 2018, the Company paid the first installment of the “toll charge”. During the third quarter of 2018, the Company recorded a benefit of $8.0 million to adjust the provisional “toll charge” required from the transition to the new territorial tax system, and a benefit of $0.2 million to adjust the remeasurement of net deferred tax assets as a result of U.S. tax reform. During the fourth quarter, the Company completed its final assessment under SAB 118, and recorded an additional charge of $32.8 million to adjust an accrual related to the U.S. state impact and foreign withholding taxes on planned repatriations. The charge in the fourth quarter of 2018 is consistent with the Company's need to repatriate funds for debt repayment purposes.

Retirement Benefits Current service costs of retirement plans and postretirement health care and life insurance benefits are accrued. Prior service costs resulting from plan improvements are amortized over periods ranging from 10 to 20 years.

Financial Instruments Derivative financial instruments are used to manage interest and foreign currency exposures. The gain or loss on the hedging instrument is recorded in earnings at the same time as the transaction being hedged is recorded in earnings. The associated asset or liability related to the open hedge instrument is recorded in Prepaid expenses and Other current assets or Other current liabilities, as applicable.

The Company records all derivative financial instruments on the balance sheet at fair value. Changes in a derivative’s fair value are recognized in earnings unless specific hedge criteria are met. If the derivative is designated as a fair value hedge, the changes in the fair value of the derivative and of the hedged item attributable to the hedged risk are recognized in Net income. If the derivative is designated as a cash flow hedge, the effective portions of changes in the fair value of the derivative are recorded in Accumulated other comprehensive income ("AOCI") in the accompanying Consolidated Balance Sheet and are subsequently recognized in Net income when the hedged item affects earnings. Ineffective portions of changes in the fair value of cash flow hedges, if any, are recognized as a charge or credit to earnings.

Software Costs The Company capitalizes direct internal and external development costs for certain significant projects associated with internal-use software and amortizes these costs over 7 years. Neither preliminary evaluation costs nor costs associated with the software after implementation are capitalized. Costs related to projects that are not significant are expensed as incurred.

Net Income Per Share Under the two-class method, earnings are adjusted by accretion amounts to redeemable noncontrolling interests recorded at redemption value. The adjustments represent in-substance dividend distributions to the noncontrolling interest holders as the holders have a contractual right to receive a specified amount upon redemption. As a result, earnings are adjusted to reflect this in-substance distribution that is different from other common shareholders. In addition, the Company has unvested share based payment awards with a right to receive nonforfeitable dividends and thus are considered participating securities which are required to be included in the computation of basic and diluted earnings per share.

Basic earnings (loss) per share represents the amount of earnings for the period available to each share of common stock outstanding during the period. Basic earnings (loss) per share includes the effect of issuing shares of common stock assuming (i) the prepaid stock purchase contracts (“SPC”) are converted into the minimum number of common stock under the if-converted method, and (ii) an adjustment to earnings (loss) to reflect adjustments made to record the redeemable value of redeemable non-controlling interests. Diluted earnings (loss) per share also includes the effect of issuing shares of common stock, assuming (i) stock options and warrants are exercised, (ii) restricted stock units are fully vested under the treasury stock method, and (iii) the incremental effect of the prepaid stock purchase contracts (“SPC”) converted into the maximum number of common stock under the if-converted method.

Stock-Based Compensation Compensation cost of all stock-based awards is measured at fair value on the date of grant and recognized over the service period for which awards are expected to vest. The cost of such stock-based awards is principally recognized on a straight-line attribution basis over their respective vesting periods, net of estimated forfeitures.

Financing Costs Costs incurred in the issuance of debt are deferred and amortized as part of interest expense over the stated life of the applicable debt instrument. Unamortized deferred financing costs relating to debt are presented as a reduction in the amount of debt outstanding on the Consolidated Balance Sheet. Unamortized deferred financing costs relating to the revolving credit facility are recorded in Other assets on the Consolidated Balance Sheet.

Redeemable Non-controlling Interests Non-controlling interests in subsidiaries that are redeemable for cash or other assets outside of the Company’s control are classified as mezzanine equity, outside of equity and liabilities, at the greater of the carrying value or the redemption value. The increases or decreases in the estimated redemption amount are recorded with corresponding adjustments against Capital in excess of par value and are reflected in the computation of earnings per share using the two-class method.

Adoption of Highly Inflationary Accounting in Argentina U.S. GAAP requires the use of highly inflationary accounting for countries whose cumulative three-year inflation rate exceeds 100 percent. In the second quarter of 2018, the Argentine peso rapidly devalued relative to the U.S. dollar, which along with increased inflation, indicated that the three-year cumulative inflation rate in that country exceeded 100 percent as of July 1, 2018. As a result, the Company adopted highly inflationary accounting as of the beginning of the third quarter of 2018 for its subsidiary in Argentina. Under highly inflationary accounting, the functional currency of the Company's subsidiary in Argentina became the U.S. dollar, and its results for the third and fourth quarter have been recorded on that basis. The net effect of the adoption of the U.S. dollar as the functional currency did not result in a material change to the Company's Consolidated Balance Sheet or the Consolidated Statement of Income and Comprehensive Income. For the year ended December 31, 2018, the Company's Argentina subsidiary represented less than 3% of the Company’s consolidated net sales and less than 1% of its consolidated total assets as of December 31, 2018.

Recent Accounting Pronouncements

In October 2018, the FASB issued Accounting Standards Update ("ASU") 2018-16, “Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate ("SOFR") Overnight Index Swap ("OIS") Rate as a Benchmark Interest Rate for Hedge Accounting Purposes." The ASU allows for the use of the OIS rate based on the SOFR as a U.S. benchmark interest rate for purposes of applying hedge accounting under ASC 815, Derivatives and Hedging. The ASU is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the impact this guidance will have on its Consolidated Financial Statements.

In August 2018, the FASB issued ASU 2018-15, “Intangibles - Goodwill and Other - Internal - Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force).” The ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). This guidance is effective for fiscal years beginning after December 15, 2019, and for interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact this guidance will have on its Consolidated Financial Statements.

In August 2018, the FASB issued ASU 2018-14, "Compensation - Retirement Benefits - Defined Benefit Plans (Subtopic 715-20)", which modifies the disclosure requirements on company-sponsored defined benefit plans. The ASU is effective for fiscal years beginning after December 15, 2020 on a retrospective basis to all periods presented. Early adoption is permitted. The Company is currently evaluating the impact this guidance will have on its Consolidated Financial Statements.

In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820)", which modifies, removes and adds certain disclosure requirements on fair value measurements. The ASU is effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. Early adoption is permitted. The Company is currently evaluating the impact this guidance will have on its Consolidated Financial Statements.

In June 2018, the FASB issued ASU 2018-07, "Compensation - Stock Compensation (Topic 718)" intended to reduce cost and complexity and to improve financial reporting for nonemployee share-based payments. This guidance expands the scope of Topic 718, Compensation-Stock Compensation which currently only includes share-based payments to employees to include share-based payments issued to nonemployees for goods or services. This guidance is effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The Company is currently evaluating the impact this guidance will have on its Consolidated Financial Statements.

In February 2018, FASB issued ASU 2018-02, "Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income" which allows for a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Act, in addition to requiring certain disclosures about stranded tax effects. This guidance is effective for periods beginning after December 15, 2018, with an election to adopt early. The Company is currently evaluating the impact this guidance may have on its Consolidated Financial Statements.

In August 2017, FASB issued ASU 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities" which eliminates the requirement to separately measure and present hedge ineffectiveness and aligns the presentation of hedge gains and losses with the underlying hedge item. This guidance is effective for fiscal years beginning after December 15, 2018. Early adoption is permitted. The amended presentation and disclosure requirements are to be applied prospectively while the amendments to cash flow and net investment hedge relationships are to be applied on a modified retrospective basis. The Company is currently evaluating the impact this guidance will have on its Consolidated Financial Statements.

In May 2017, the FASB issued ASU 2017-09, "Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting" which clarifies changes to the terms or conditions of a share-based payment award that require an entity to apply modification accounting. This guidance is effective for the current year. The Company has determined that this guidance does not have an impact on its Consolidated Financial Statements as it is not the Company's practice to modify the terms or conditions of a share-based payment award after it has been granted.

In March 2017, the FASB issued ASU 2017-07, "Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost" which requires employers who present a measure of operating income in their statement of income to include only the service cost component of net periodic pension cost and postretirement costs in operating expenses. This guidance is effective for 2018, and as required, has been applied on a full retrospective basis. The impact of the adoption of this standard on January 1, 2018 was a decrease in operating profit by approximately $28.8 million and $14.4 million for the fiscal year 2017 and 2016, respectively, and corresponding increases in Other (income) expense, net as presented in the Company's Consolidated Statement of Income and Comprehensive Income for the respective periods. There was no impact to Net income or Net Income per share in either period. See Note 16 of the Consolidated Financial Statements for further details.

The new guidance also limits the amount of net periodic benefit cost eligible for capitalization to assets. The new guidance permits only the service cost component of net periodic benefit cost to be eligible for capitalization. The Company applied the practical expedient that permits the use of amounts previously disclosed as the basis for retrospective application and, as provided under the practical expedient, has not presented the income statement impact based on the capitalization of the applicable costs.

In November 2015, the FASB issued ASU 2016-18, "Statement of Cash Flows (Topic 230): Restricted Cash" which requires the statement of cash flows to explain the change during the period in the total cash, cash equivalents and amounts generally described as restricted cash. Amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning and ending total amounts shown on the statement of cash flows. Retrospective presentation is required. The company retroactively applied this new guidance as of December 30, 2017, the first day of the Company’s 2018 fiscal year

In August 2016, the FASB issued ASU 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments" which requires changes to the classification of certain activities within the statement of cash flows. This guidance is effective for the current year, and the Company has determined that this adoption does not have an impact on its Consolidated Statement of Cash Flows.

In June 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments", with subsequent amendments, which requires issuers to measure expected credit losses for financial assets based on historical experience, current conditions and reasonable and supportable forecasts. As such, an entity will use forward-looking information to estimate credit losses. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact this guidance may have on its consolidated financial statements.

In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)", with subsequent amendments, which requires changes to the accounting for leases and supersedes existing lease guidance, including ASC 840 - Leases. Among other things, ASU 2016-02 requires recognition of a right-of-use asset and a liability for future lease payments for contracts that meet the definition of a lease and also requires disclosure of certain information about leasing arrangements. ASU 2016-02 is effective January 1, 2019. On July 30, 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements, which, among other things, allows companies to elect an optional transition method to apply the new lease standard through a cumulative-effect adjustment in the period of adoption. The Company adopted the standard on December 29, 2018, the first day of its 2019 year, using the optional transition method. The Company has made substantial progress in executing its implementation plan. It is in the process of revising its controls and processes to address the lease standard and has substantially completed the implementation and data input for the lease accounting software tool that it will use post adoption. The Company is electing certain practical expedients including the expedient that allows it to carry forward prior lease classifications under ASC 840. Adoption of the standard is expected to have a material impact on the Company's consolidated statement of financial position due to the addition of lease assets and liabilities related to operating leases. ASU 2016-02 also requires expanded disclosure regarding the amounts, timing and uncertainties of cash flows related to a company’s lease portfolio. The Company is evaluating these disclosure requirements and is incorporating the collection of relevant data into its existing financial reporting processes in preparation for disclosure in 2019. The Company does not expect ASU 2016-02 to have a material impact on its annual results of operations and/or cash flows.

Revenue Recognition - Adoption of ASC 606

In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers", with subsequent amendments, that provides for a comprehensive model to be used in accounting for revenue arising from contracts with customers (ASC Topic 606, Revenue from Contracts with Customers) (the “Revenue Standard”). Under the Revenue Standard, revenue is recognized to reflect the transfer of goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. Companies have the option to apply the new guidance under a retrospective approach to each prior reporting period presented or a modified retrospective approach with the cumulative effect of initially applying the new guidance recognized at the date of initial application within the Consolidated Balance Sheet. The new Revenue Standard became effective for annual reporting periods beginning after December 15, 2017, and the Company has adopted the new revenue standard using the modified retrospective approach on December 30, 2017, the first day of the Company’s 2018 fiscal year.

The Company creates and manufactures flavors and fragrances. Approximately 90% of its products, principally flavor compounds and fragrance compounds, are customized to customer specifications and have no alternative use other than the sale to the specific customer (“Compounds products”). The remaining revenue is derived largely from ingredients products that, generally, are commodity products with alternative uses and not customized (“Ingredients products”).

With respect to the vast majority of the Company’s contracts for Compounds products, the Company currently recognizes revenue on the transfer of control of the product at a point in time as the Company does not have an “enforceable right to payment for performance to date” (as set out in the Revenue Standard). With respect to a small number of contracts for the sale of Compounds, the Company has an “enforceable right to payment for performance to date” and as the products do not have an alternative use, the Company recognizes revenue for these contracts over time and records a contract asset using the output method. The output method recognizes revenue on the basis of direct measurements of the value to the customer of the goods or services transferred to date relative to the remaining goods or services promised under the contract.

With respect to the Company’s contracts related to Ingredients products, the Company currently recognizes revenue on the transfer of control of the product at a point in time as such products generally have alternative uses and the Company does not have an “enforceable right to payment for performance to date.”

As the Company adopted the Revenue Standard using the modified retrospective method effective the first day of its 2018 fiscal year, results for its 2018 fiscal year are presented under the Revenue Standard while prior period amounts are not adjusted and continue to be reported in accordance with our historic accounting under ASC Topic 605, which required that revenue was accounted for when the earnings process was complete.

The Company recorded a net increase to retained earnings of $2.1 million as of the first day of its 2018 fiscal year due to the cumulative impact of adopting the Revenue Standard. In connection with the adjustment to retained earnings, the Company also recorded an increase of $4.4 million in contract assets (which are included in Prepaid expenses and other assets), a decrease of $1.7 million in inventory, and an increase in taxes payable of $0.6 million.

The impact to revenues, gross profit and net income for the year ended December 31, 2018 were reductions of $4.0 million, $2.6 million and $1.9 million, respectively, as a result of applying the Revenue Standard as compared to the amounts that would have been recognized under ASC Topic 605.

Revenue Recognition

The Company recognizes revenue when control of the promised goods is transferred to its customers in an amount that reflects the consideration it expects to be entitled to in exchange for those goods. Sales, value add, and other taxes the Company collects are excluded from revenues. The Company receives payment in accordance with standard customer terms.

The following table presents the Company's revenues disaggregated by product categories:



	December 31,
(DOLLARS IN THOUSANDS)	2018		2017^(a)		2016(a)
Flavor Compounds	$	1,990,985	$	1,632,166	$	1,496,525
Fragrance Compounds	1,496,493		1,424,612		1,303,653
Ingredients	490,061		341,941		316,172
Total revenues	$	3,977,539	$	3,398,719	$	3,116,350

_______________________


(a)	Prior period amounts have not been adjusted based on the modified retrospective method.

The following table presents our revenues disaggregated by region, based on the region of our customers:



	December 31,
(DOLLARS IN THOUSANDS)	2018		2017^(a)		2016^(a)
Europe, Africa and Middle East	$	1,396,315	$	1,065,596	$	964,931
Greater Asia	991,015		903,546		880,040
North America	1,010,126		901,821		769,081
Latin America	580,083		527,756		502,298
Total revenues	$	3,977,539	$	3,398,719	$	3,116,350

_______________________


(a)	Prior period amounts have not been adjusted based on the modified retrospective method.

Flavor and Fragrance Compounds Revenues

The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties and payment terms (which vary by customer) are identified, the contract has commercial substance, and collectability of consideration is probable. Consistent with our past practice, the amount of revenue recognized is adjusted at the time of sale for expected discounts and rebates (“Variable Consideration”).

The Company generates revenues primarily by manufacturing customized taste and scent compounds for the exclusive use of our customers. The Company combines the shipment of goods with their manufacture to account for both shipment and manufacture as the sole performance obligation.

With respect to the vast majority of the Company’s contracts for Compounds products, the Company recognizes a sale at the point in time when it ships the product from its manufacturing facility to its customer, as this is the time when control of the goods has transferred to the customer. The amount of consideration received and revenue recognized is impacted by the Variable Consideration the Company has agreed with its customers. The Company estimates Variable Consideration amounts for each customer based on the specific agreement, an analysis of historical volumes and the current activity with that customer. The Company reassesses its estimates of Variable Consideration at each reporting date throughout the contract period and updates the estimate until the uncertainty is resolved. During the current period, changes to estimates of Variable Consideration have been immaterial.

With respect to a small number of contracts for the sale of Compounds products, the Company recognizes revenue over time as it manufactures customized compounds that do not have an alternative use and for which the contracts provide the Company with an enforceable right to payment, including a reasonable profit, at all times during the contract term commencing with the manufacturing of the goods. When revenue is recognized over time, the amount of revenue recognized is based on the extent of progress towards completion of the promised goods. The Company generally uses the output method to measure progress for its contracts as this method reflects the transfer of goods to the customer. Once customization begins, the manufacturing process is generally completed within a two week period. Due to the short time frame for production, there is little estimation uncertainty in the process. In addition, due to the customized nature of the Company's products, returns are not material.

Ingredients Revenues

The Company generates revenues primarily by manufacturing Ingredients products for the use of our customers. The Company combines the shipment of goods with their manufacture to account for both shipment and manufacture as the sole performance obligation.

Generally, the Company recognizes a sale at the time when it ships the product from their manufacturing facility to their customer, as this is the point when control of the goods or services has transferred to the customer. The amount of consideration received and revenue recognized is impacted by discounts offered to its customers. The Company estimates discounts based on an analysis of historical experience and current activity. The Company assesses its estimates of discounts at each reporting date throughout the contract period and updates its estimates until the uncertainty has been resolved. During the current period, changes to estimates of discounts have been immaterial.

Contract Asset and Accounts Receivable

The following table reflects the balances in our contract assets and accounts receivable for the twelve months ended December 31, 2018 and 2017:

Reclassifications

As discussed above, the Company has reclassified certain components of net periodic benefit expense (income) to Other income (expense), net.

Restructuring and Other Charges

12 Months Ended

Dec. 31, 2018

Restructuring and Related Activities [Abstract]

Restructuring and Other Charges

RESTRUCTURING AND OTHER CHARGES

Restructuring and other charges primarily consist of separation costs for employees including severance, outplacement and other benefit costs.

2017 Productivity Program

On February 15, 2017, the Company announced that it was adopting a multi-year productivity program designed to improve overall financial performance, provide flexibility to invest in growth opportunities and drive long-term value creation. In connection with this program, we expect to optimize our global footprint and simplify the Company's organizational structures globally. In connection with this initiative, the Company expects to incur cumulative, pre-tax cash charges of $27 million, consisting primarily of $25 million in personnel-related costs and an estimated $2 million in facility-related costs, such as lease termination, and integration-related costs.

The Company recorded $3.9 million and $20.6 million of charges related to personnel-related costs in 2018 and 2017, respectively, with no further anticipated personnel-related and other costs after the first quarter of 2019. The Company made payments of $7.3 million and $14.0 million related to severance in 2018 and 2017, respectively. The overall charges were split approximately evenly between Taste and Scent. No charges were allocated to the Frutarom segment. This initiative is expected to result in the reduction of approximately 370 members of the Company’s global workforce, including acquired entities, in various parts of the organization.

2015 Severance

During 2015, the Company established a series of initiatives intended to streamline its management structure, simplify decision-making and accountability, better leverage and align its capabilities across the organization and improve efficiency of its global manufacturing and operations network. As a result, the Company recorded charges for severance and related costs pertaining to approximately 150 positions that were affected. During 2016, the Company recorded a credit of $1.7 million related to the reversal of severance accruals that were determined to be no longer required. During 2017, the Company made payments of $0.2 million related to severance and recorded a credit of $2.3 million related to the reversal of severance accruals that were determined to be no longer required.

Roll Forward of Liability

Movements in severance-related accruals during 2016, 2017 and 2018 are as follows:



(DOLLARS IN THOUSANDS)	Employee-Related Costs			Other			Total
Balance at January 1, 2016	$	7,882		$	—		$	7,882
Additional charges (reversals), net	(1,700		)	658			(1,042		)
Non-cash charges	—			(658		)	(658		)
Payments	(2,905		)	—			(2,905		)
Balance at December 31, 2016	3,277			—			3,277
Additional charges (reversals), net	18,309			1,402			19,711
Non-cash charges	—			(528		)	(528		)
Payments	(14,047		)	(456		)	(14,503		)
Balance at December 31, 2017	7,539			418			7,957
Additional charges (reversals), net	3,884			1,195			5,079
Non-cash charges	—			(418		)	(418		)
Payments	(7,298		)	(120		)	(7,418		)
Balance at December 31, 2018	$	4,125		$	1,075		$	5,200

Acquisitions (Notes)

12 Months Ended

Dec. 31, 2018

Business Combinations [Abstract]

Acquisitions

ACQUISITIONS

Frutarom

On October 4, 2018 (the "Closing"), the Company completed its acquisition of Frutarom Industries Ltd. (“Frutarom”). The Company acquired 100% of the equity of Frutarom pursuant to a definitive agreement and plan of merger entered into on May 7, 2018 ("Merger Agreement"). Frutarom is an Israeli company that, through its subsidiaries, develops, produces and markets flavors and fine ingredients used in manufacturing food, beverages, flavors and fragrances, pharma/nutraceuticals, cosmetics and personal care products, including natural products. The acquisition was made in order to strengthen IFF's customer base, its capabilities and geographic reach, and is expected to result in more exposure to numerous end markets, including those with a focus on naturals and health and wellness.

The acquisition was accounted for using the purchase method of accounting in accordance with ASC Topic 805, Business Combinations, with IFF identified as the acquirer. As a result of the acquisition, Frutarom's assets, liabilities and results of operations were included in the Company’s financial statements from the acquisition date. Frutarom contributed net sales of $359.6 million for the year ended December 31, 2018 and a segment profit of $27.4 million for the year ended December 31, 2018.

Purchase Price

The following table summarizes the aggregate purchase price consideration paid to acquire Frutarom (in thousands, except share and per share data):



Frutarom’s shares outstanding as of the Closing	59,576,323
Cash consideration per share	71.19
Total cash paid to shareholders of Frutarom	$	4,241,238

Cash paid to vested stock option holders	19,229
Cash in escrow for unvested stock option holders	7,048
Cash paid for closing dividend	21,065
Cash in lieu of fractional shares	15
Cash portion of the purchase consideration	$	4,288,595

Frutarom’s shares outstanding as of the Closing	59,576,323
Exchange ratio	0.249
Total common shares of IFF issued	14,834,504
IFF’s share price as of the Closing	137.39
Total equity consideration paid to shareholders of Frutarom	2,038,113
Equity consideration paid to vested stock Frutarom option holders (representing 67,046 shares)	9,211
Equity portion of purchase consideration	$	2,047,324

Repayment of existing credit facilities of Frutarom	694,975

Total purchase consideration	$	7,030,894

At the Closing, each issued and outstanding Frutarom ordinary share was exchanged for $71.19 in cash and 0.2490 of a share of the Company's common stock (the "Merger Consideration").

As part of the acquisition, each Frutarom stock option and restricted share unit (“RSU”) that was vested at the Closing was canceled in exchange for the right to receive Merger Consideration, reduced by the exercise price per share for each vested option. Upon Closing, IFF paid $19.2 million in cash and issued 67,046 shares to the holders of vested options and RSUs.

Frutarom stock options and RSUs that were unvested at the Closing were canceled in exchange for the right to receive cash equivalent to the Merger Consideration reduced by the exercise price per share for each unvested option. These awards require the option holders to continue employment until the end of the original vesting period. If an employee is terminated and the right to such options has not been forfeited, the employee is entitled to a pro-rata portion based on the vesting period that has been completed at the termination date. The Company funded a separate escrow account for the amount related to the unvested awards in the amount of $13.6 million. This amount is designated as Restricted cash on the Consolidated Balance Sheet. The Company attributed the fair value of $7.0 million of the unvested awards to pre-acquisition services and the remainder will be recognized in the post-acquisition period over the required remaining service period.

Pursuant to the Merger Agreement, the Frutarom shareholders were entitled to a closing dividend. The per share dividend was equal to the product of (a) aggregate amount of per share cash dividends declared by IFF with a record date occurring on or after the date of the Merger Agreement and prior to closing of the Merger, multiplied by, (b) Frutarom’s shares outstanding as of the Closing multiplied by the exchange ratio of 0.2490. The closing dividend payment of $21.1 million has been included in the total purchase consideration amount.

A portion of Frutarom’s existing debt was repaid concurrent with the Closing. Frutarom's debt, which was not legally assumed by IFF but was paid at Closing, was approximately $695.0 million.

To finance the acquisition, the Company used cash on hand and borrowed approximately $3.3 billion of additional debt, consisting of $2.8 billion of senior unsecured notes, $350.0 million in term loans and $139.5 million of tangible equity units. See Note 10 for further details.

The Company issued 14.9 million shares as a portion of the purchase consideration resulting in former Frutarom shareholders holding approximately 14% of the Company's outstanding common stock as of the Closing. Additionally, the Company issued 16,500,000 TEUs in an underwritten public offering for net proceeds of approximately $665.1 million.

The Company acquired pre-existing contingent consideration arrangements that are subject to change based on future earnings. Amounts are payable in 2019, 2020, and 2021. The fair value of the contingent consideration has been recorded on the opening balance sheet in the amount of $43.6 million. The liability will be periodically re-assessed and any changes will be recorded in the consolidated statement of operations.

As part of several acquisitions made by Frutarom, noncontrolling interest holders of the acquired entities were granted options to sell their respective interests to Frutarom (“put option”) and Frutarom held a mirroring option to buy the interests on the same terms (“call option”). IFF determined that the put options cannot be separated from the noncontrolling interests and the combination of a noncontrolling interest and its redemption feature require each noncontrolling interest to be classified as a redeemable noncontrolling interest. The redeemable noncontrolling interests were initially measured at fair value as of the acquisition date using a discounted cash flow approach, inclusive of the put and call provisions.

Purchase Price Allocation

The Company allocated the purchase consideration to the tangible net assets and identifiable intangible assets acquired based on estimated fair values at the acquisition date, and recorded the excess of consideration over the fair values of net assets acquired as goodwill. The purchase price allocation is preliminary and is subject to change. The Company is currently finalizing the valuation of property, plant and equipment (including estimated useful lives), goodwill, intangible assets (trade names, product formulas, customer relationships and favorable/unfavorable leases, including estimated useful lives), and leases, in addition to ensuring all other liabilities and contingencies have been identified and recorded. Additionally, the Company is finalizing the projected combined future tax rate to be applied to the valuation of assets, which could impact the valuation of goodwill and intangible assets. The determination of the fair value of assets and liabilities will be finalized as soon as the valuation is completed which is expected to be during 2019.

The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed (in thousands).



Cash and cash equivalents	$	140,747
Other current assets	699,627
Identifiable intangible assets	2,690,000
Other assets	353,710
Equity method investments	25,791
Current liabilities	(311,325		)
Debt assumed	(77,037		)
Other liabilities	(632,488		)
Redeemable noncontrolling interest	(97,510		)
Noncontrolling interest	(3,700		)
Excess attributable to Goodwill	4,243,079
Total Purchase Consideration	$	7,030,894

Accounts receivable and other miscellaneous receivables were recorded at their approximate fair value based on Frutarom’s expected collections. Finished goods and work-in-process inventory was valued using a net realizable value approach, including profit allowance, which resulted in a step-up of $31.5 million. The preliminary fair value of property, plant and equipment will be determined using a combination of the income approach, the preliminary market approach and the cost approach. The cost approach is based on current replacement and/or reproduction cost of the asset as new, less depreciation attributable to physical, functional, and economic factors.

Other liabilities includes a deferred tax liability of $45.0 million on deemed repatriation as the Company plans to repatriate certain funds to the U.S. and will be required to pay foreign withholding and other taxes, including state taxes, during the period when such repatriation occurs. This balance is preliminary and will be refined through the purchase accounting measurement period.

The Company has recognized $4.2 billion of goodwill, which is attributable to expected synergies generated by the integration of Frutarom including cross-selling benefits as well as cost synergies. The goodwill has all been assigned to the Frutarom reporting unit. Approximately $87.3 million of the goodwill associated with the Frutarom acquisition is deductible for income tax purposes. Any changes in the estimated fair values of the assets acquired and liabilities assumed in the acquisition may change the amount of the purchase consideration allocated to goodwill.

The preliminary amounts of the components of intangible assets have been recorded as follows:



(IN THOUSANDS)	Estimated Amounts		Weighted-Average Useful Life
Intangible assets with finite lives:
Product formula	$	290,000	10 to 12 years
Customer relationships	2,260,000		18 to 23 years
Trade names	140,000		23 to 26 years
Total	$	2,690,000

Trade names and trademarks, product formulas, and customer relationships were valued using the relief from royalty method, or the multi-period excess earnings method, which are both variations of the income approach. Some of the more significant assumptions inherent in developing the valuations included the estimated net cash flows (including net sales, cost of goods sold, operating expenses, and contributory asset charges), royalty rates, attrition rates, and discount rates that appropriately reflect the risks inherent in each future cash flow stream, the assessment of each asset’s life cycle, competitive trends, as well as other factors. The assumptions used in the financial forecasts were determined by considering historical data as well as current and anticipated market conditions, industry growth rates, management plans, and market comparables. The intangible assets are being amortized on a straight-line basis over the respective useful lives.

Pro forma financial information

The following unaudited pro forma financial information presents the combined results of operations of IFF and Frutarom as if the acquisition had been completed as of the beginning of the prior fiscal year, or January 1, 2017. The unaudited pro forma financial information is presented for informational purposes and is not indicative of the results of operations that would have been achieved if the acquisition and related borrowings had taken place on January 1, 2017, nor are they indicative of future results. The unaudited pro forma financial information for the year ended December 31, 2018 includes IFF results, including the post-acquisition results of Frutarom, since October 4, 2018, and pre-acquisition results of Frutarom for the period January 1, 2018 through October 3, 2018.

The unaudited pro forma results for the years ended December 31, 2018 and December 31, 2017 is as follows:



	Year Ended December 31,
(IN THOUSANDS)	2018		2017
Unaudited pro forma net sales	$	5,135,906	$	4,761,115
Unaudited pro forma net income attributable to the Company	474,498		240,784

The unaudited pro forma results for all periods presented include adjustments made to account for certain costs and transactions that would have been incurred had the acquisition been completed as of January 1, 2017, including amortization charges for acquired intangibles assets, adjustments for acquisition transaction costs, adjustments for depreciation expense for property, plant, and equipment, and adjustments to interest expense. These adjustments are net of any applicable tax impact and were included to arrive at the pro forma results above.

Other

The Company incurred acquisition-related costs of $156.7 million for the year ended December 31, 2018. This amount primarily consists of the following: $39.4 million of bridge loan commitment fees included in Interest expense; $34.9 million make whole payment on the Senior Notes - 2007 and $3.9 million realized loss on a fair value hedge included in Loss on extinguishment of debt; $12.5 million realized gain on a foreign currency derivative included in Other income; and $66 million of transaction costs included in Selling and administrative expenses.

TAA

On December 7, 2018, the Company completed the acquisition of 100% of the outstanding shares of The Additive Advantage, LLC ("TAA"), a privately-held manufacturing and licensing company with facilities in North America. The acquisition was accounted for under the purchase method. TAA was acquired to strengthen IFF’s position in delivery capability and technologies, and to advance the R&D delivery platform with printable encapsulation solutions.

The Company paid $14.5 million for this acquisition, which was funded from cash on hand. Additionally, the Company recorded an accrual of $6.9 million representing the current estimate of additional contingent consideration payable to the former owners of TAA determined using the scenario-based method. In addition, as part of the acquisition, the Company assumed a loan of $0.5 million that had been due to the Company from TAA. This amount was included in the purchase consideration.

The purchase consideration was allocated principally to identifiable intangible assets including $11.4 million to In-process research and development ("IPR&D") and approximately $10.4 million to goodwill (which is deductible for tax purposes). IPR&D represents acquired printing technology that had not been completed as of the acquisition date. The fair value of IPR&D was determined using the income approach. IPR&D will be tested for impairment going forward, and will only be amortized once technological feasibility has been established. The rate utilized to discount the net cash flows to their present value reflects the risk associated with the intangible asset and is benchmarked to the cost of equity. Goodwill is the excess of the purchase price over the fair value of net assets acquired and represents the value the Company expects to achieve from applying the technology to the Company’s existing product portfolio.

The acquisition agreement contains a provision for the payment of certain milestone amounts, which will be expensed as incurred post-acquisition, with a maximum amount that will be paid out of $5.4 million, as they are contingent on continued employment, as well as achievement of milestones related to the IPR&D programs.

No pro forma financial information is presented as the acquisition was not material to the consolidated financial statements.

PowderPure

On April 7, 2017, the Company completed the acquisition of 100% of the outstanding shares of Columbia PhytoTechnology, LLC d/b/a PowderPure ("PowderPure"), a privately-held flavors company with facilities in North America. The acquisition was accounted for under the purchase method. PowderPure was acquired to expand expertise in, and product offerings of, clean label solutions within the Flavors business.

The Company paid approximately $54.6 million including $0.4 million of cash acquired for this acquisition, which was funded from existing resources including use of its revolving credit facility. Additionally, the Company recorded an accrual of approximately $1.4 million representing the current estimate of additional contingent consideration payable to the former owners of PowderPure. (The maximum earnout payable is $10 million upon satisfaction of certain performance metrics). The purchase price exceeded the preliminary fair value of existing net assets by approximately $48.0 million. The excess was allocated principally to identifiable intangible assets including approximately $27.5 million to proprietary technology, approximately $4.5 million to trade name and approximately $0.8 million to customer relationships, and approximately $15.2 million of goodwill (which is deductible for tax purposes). Goodwill is the excess of the purchase price over the fair value of net assets acquired and represents the value the Company expects to achieve from its increased exposure to clean label products within the Company's existing Flavors business. The intangible assets are being amortized over the following estimated useful lives: proprietary technology, 14 years; trade name, 14 years; and customer relationships, 2 years.

The purchase price allocation was completed in the first quarter of 2018. No material adjustments were made to the purchase price allocation since the preliminary valuation performed in the second quarter of 2017. The estimated amount of the contingent consideration payable was reduced to zero during 2018 and resulted in a decrease in administrative expense of approximately $1.3 million.

No pro forma financial information for 2017 or 2016 is presented as the acquisition was not material to the consolidated financial statements.

Fragrance Resources

On January 17, 2017, the Company completed the acquisition of 100% of the outstanding shares of Fragrance Resources, Inc., Fragrance Resources GmbH, and Fragrance Resources SAS (collectively "Fragrance Resources"), a privately-held fragrance company with facilities in Germany, North America, France, and China. The acquisition was accounted for under the purchase method. Fragrance Resources was acquired to strengthen the North American and German Fragrances business.

The Company paid approximately €143.4 million (approximately $151.9 million) including approximately €13.7 million (approximately $14.4 million) of cash acquired for this acquisition, which was funded from existing resources including use of its revolving credit facility. Of the total paid, approximately €142.0 million (approximately $150.5 million) was paid at closing and an additional €1.4 million (approximately $1.5 million) was paid in connection with the finalization of the working capital adjustment. The purchase price exceeded the fair value of existing net assets by approximately $122.0 million. The excess was allocated principally to identifiable intangible assets including approximately $51.7 million related to customer relationships, approximately $13.6 million related to proprietary technology and trade name, and approximately $72.0 million of goodwill (which is not deductible for tax purposes) and approximately $15.3 million of net deferred tax liability. Goodwill is the excess of the purchase price over the fair value of net assets acquired and represents synergies from the addition of Fragrance Resources to the Company's existing Fragrances business. The intangible assets are being amortized over the following estimated useful lives: trade name, 2 years; proprietary technology, 5 years; and customer relationships, 12 - 16 years.

The purchase price allocation was finalized in the fourth quarter of 2017. Certain measurement period adjustments were made subsequent to the initial purchase price allocation including adjustments related to the finalization of the purchase price, the allocation of certain intangibles and the calculation of applicable deferred taxes. The additional amortization of intangibles required as a result of the measurement period adjustments was not material.

No pro forma financial information for 2016 is presented as the acquisition was not material to the consolidated financial statements.

David Michael

On October 7, 2016, the Company completed the acquisition of 100% of the outstanding shares of David Michael & Company, Inc. ("David Michael"). The acquisition was accounted for under the purchase method. David Michael was acquired to strengthen the North American flavors business. The Company paid approximately $242.6 million (including $5.1 million of cash acquired) for this acquisition, which was funded from existing resources. The preliminary purchase price allocation was updated during the first quarter of 2017, resulting in a reduction in allocation of value to customer relationships. The related reduction in amortization expense was not material to the Consolidated Statement of Comprehensive Income. The purchase price allocation was finalized during the second quarter of 2017. Additionally, during the second quarter of 2017, the Company finalized the working capital adjustment and paid an additional $0.7 million. The purchase price exceeded the fair value of existing net assets by approximately $168.7 million. The excess was allocated principally to identifiable intangible assets including approximately $50.0 million related to customer relationships, approximately $8.4 million related to proprietary technology and trade name, and approximately $110.2 million of goodwill (which is deductible for tax purposes). Goodwill is the excess of the purchase price over the fair value of net assets acquired and represents synergies from the addition of David Michael to the Company's existing Flavors business. The intangible assets are being amortized over the following estimated useful lives: trade name, 2 years; proprietary technology, 5 years; and customer relationships, 18 - 20 years.

No pro forma financial information for 2016 is presented as the impact of the acquisition was immaterial to the Consolidated Statement of Comprehensive Income.

Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment, Net [Abstract]

Property, Plant and Equipment, Net

PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment consisted of the following amounts:



(DOLLARS IN THOUSANDS)	December 31,
(DOLLARS IN THOUSANDS)	2018			2017
Asset Type
Land	$	75,528		$	39,006
Buildings and improvements	760,783			560,939
Machinery and equipment	1,342,881			1,162,164
Information technology	179,876			186,891
Construction in process	133,870			141,755
Total Property, Plant and Equipment	2,492,938			2,090,755
Accumulated depreciation	(1,251,786		)	(1,210,175		)
Total Property, Plant and Equipment, Net	$	1,241,152		$	880,580

Depreciation expense was $89.1 million for the year ended December 31, 2018, and $83.4 million and $78.6 million for the years ended December 31, 2017 and 2016, respectively.

Goodwill and Other Intangible Assets, Net

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

Goodwill

Movements in goodwill during the years ended December 31, 2016, 2017 and 2018 were as follows:



(DOLLARS IN THOUSANDS)	Goodwill
Balance at January 1, 2016	$	941,389
Acquisitions	67,480
Foreign exchange	(8,746		)
Balance at December 31, 2016	1,000,123
Acquisitions	87,865
Foreign exchange	32,920
Other^(a)	35,380
Balance at December 31, 2017	1,156,288
Acquisitions^(b)	4,253,541
Disposals	(19,069		)
Foreign exchange	(12,372		)
Balance at December 31, 2018	$	5,378,388

_______________________


(a)	Other above principally represents the increase to Goodwill associated with the update of certain customer relationship assumptions in the final purchase price allocation of David Michael, as disclosed in Note 3.


(b)	In 2018, $4.2 billion primarily relates to our acquisition of Frutarom and is subject to change upon completion of the purchase price allocation.

Goodwill by segment was as follows:



	December 31,
(DOLLARS IN THOUSANDS)	2018		2017
Taste	$	525,060	$	525,038
Scent	618,878		631,250
Frutarom	4,224,010		—
Unallocated	10,440		—
Total	$	5,378,388	$	1,156,288

The increase reflected in Taste above represents the finalization of the PowderPure purchase price allocation in 2018. The decrease reflected in Scent above represents the foreign exchange impact on Goodwill consolidated from subsidiary balance sheets in a functional currency other than USD. The increase reflected in Frutarom above represents the preliminary purchase price allocation of Frutarom as disclosed in Note 3.

The unallocated Goodwill above represents the preliminary purchase price allocation of TAA as disclosed in Note 3. The amount is currently unallocated pending further analysis of the use of the technology acquired in the acquisition which is expected to have applications to both Taste and Scent.

Other Intangible Assets

Other intangible assets, net consisted of the following amounts:



	December 31,
(DOLLARS IN THOUSANDS)	2018			2017
Asset Type
Customer relationships	$	2,658,659		$	407,636
Technological know-how	451,016			161,856
Trade names & patents	177,770			38,771
Other	43,766			24,814
Total carrying value	3,331,211			633,077
Accumulated Amortization
Customer relationships	(156,906		)	(104,800		)
Technological know-how	(93,051		)	(76,766		)
Trade names & patents	(19,593		)	(15,241		)
Other	(22,339		)	(20,483		)
Total accumulated amortization	(291,889		)	(217,290		)
Other intangible assets, net	$	3,039,322		$	415,787

Amortization expense was $75.9 million for the year ended December 31, 2018, and $34.7 million and $23.8 million for the years ended December 31, 2017 and 2016, respectively. Amortization expense for the next five years and thereafter, based on preliminary valuations and determinations of useful lives, is expected to be as follows:



	December 31,
(DOLLARS IN THOUSANDS)	2019		2020		2021		2022		2023
Estimated future intangible amortization expense	$	191,175	$	187,034	$	182,203	$	178,250	$	178,137

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Other Assets

12 Months Ended

Dec. 31, 2018

Other Assets [Abstract]

Other Assets

OTHER ASSETS

Other assets consisted of the following amounts:



	December 31,
(DOLLARS IN THOUSANDS)	2018		2017
Deferred income taxes	$	89,000	$	99,777
Overfunded pension plans	$	75,158	$	70,792
Cash surrender value of life insurance contracts	43,179		45,216
Equity method investments	31,470		—
Other^(a)	49,866		33,942
Total	$	288,673	$	249,727

_______________________


(a)	Includes land usage rights in China and long term deposits.

Other Current Liabilities

12 Months Ended

Dec. 31, 2018

Other Liabilities, Current [Abstract]

Other Current Liabilities

OTHER CURRENT LIABILITIES

Other current liabilities consisted of the following amounts:



	December 31,
(DOLLARS IN THOUSANDS)	2018		2017
Accrued payrolls and bonuses	$	121,080	$	88,361
Rebates and incentives payable	44,175		37,218
Value-added tax payable	23,253		17,856
Interest payable	36,823		15,863
Current pension and other postretirement benefit obligation	11,528		12,866
Accrued insurance (including workers’ compensation)	9,447		10,771
Earn outs payable	29,974		—
Restructuring and other charges	5,200		7,957
Accrued income taxes	24,356		22,190
Other	224,672		156,112
Total	$	530,508	$	369,194

Sale and Leaseback Transactions	12 Months Ended
Sale and Leaseback Transactions	Dec. 31, 2018
Sale and Leaseback Transactions [Abstract]
Sale and Leaseback Transactions	SALE AND LEASEBACK TRANSACTIONS In connection with the disposition of certain real estate in prior years, the Company entered into long-term operating leases. The leases are classified as operating leases and the gains realized on these leases have been deferred and are being credited to income over the initial lease term. Such deferred gains totaled $29.9 million and $32.7 million at December 31, 2018 and 2017, respectively, of which $26.7 million and $29.5 million, respectively, are reflected in the accompanying Consolidated Balance Sheet under Deferred gains, with the remainder included as a component of Other current liabilities.

Debt

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Debt

DEBT

Debt consisted of the following at December 31:



(DOLLARS IN THOUSANDS)	Effective Interest Rate			2018			2017
Senior notes - 2007⁽¹⁾	6.40% - 6.82%			$	—		$	249,765
2020 Notes⁽¹⁾	3.69	%		298,499			—
2021 Euro Notes⁽¹⁾	0.82	%		337,704			—
2023 Notes⁽¹⁾	3.30	%		298,698			298,670
2024 Euro Notes⁽¹⁾	1.88	%		564,034			589,848
2026 Euro Notes⁽¹⁾	1.93	%		899,886			—
2028 Notes⁽¹⁾	4.57	%		396,377			—
2047 Notes⁽¹⁾	4.44	%		493,151			492,819
2048 Notes⁽¹⁾	5.12	%		785,788			—
Term Loan⁽¹⁾	3.65	%		349,163			—
Amortizing Notes⁽¹⁾	5.81	%		125,007			—
Amended Credit Facility	LIBOR + 1.125%		(2)	—			—
Bank overdrafts and other				4,695			7,993
Deferred realized gains on interest rate swaps				57			57
				$	4,553,059		$	1,639,152
Less: Short term borrowings⁽³⁾				(48,642		)	(6,966		)
				$	4,504,417		$	1,632,186

_______________________


(1)	Amount is net of unamortized discount and debt issuance costs.


(2)	Represents the rate on drawn down and outstanding balances. Deferred debt issuance costs are immaterial.


(3)	Includes bank borrowings, commercial paper, overdrafts and current portion of long-term debt.

Financing of the Acquisition of Frutarom

Bridge Loan Facility

In connection with entering into the merger agreement with Frutarom in May 2018, the Company entered into a debt commitment letter for up to a $5.45 billion 364-day unsecured bridge loan facility to the extent the Company had not received $5.45 billion of net cash proceeds (and/or qualified bank commitments) from a combination of (a) the issuance by the Company of a combination of equity securities, equity-linked securities and/or unsecured debt securities and/or (b) unsecured term loans, in each case, at or prior to completion of the acquisition. On May 21, 2018, the Company, Morgan Stanley Senior Funding, Inc. and certain other financial institutions entered into a bridge joinder agreement to the commitment letter to provide for additional bridge commitment parties. As a result of the Company's entering into the debt and equity financing as discussed in Note 3, the bridge loan facility was terminated on September 26, 2018. In connection with the bridge loan commitment, the Company incurred $39.4 million of fees which are included in Interest expense in the Consolidated Statement of Income and Comprehensive Income for the year ended December 31, 2018.

Term Loan

On June 6, 2018, the Company entered into a term loan credit agreement to replace a portion of the bridge loan facility, reducing the amount of the bridge loan commitments by $350 million. Under the term loan credit agreement, the lenders thereunder committed to provide, subject to certain conditions, a senior unsecured term loan facility (as amended, "Term Loan") in an original aggregate principal amount of up to $350.0 million, maturing three years after the funding date thereunder. The proceeds from the term loan were received on October 3, 2018.

The Term Loan bears interest, at the Company’s option, at a per annum rate equal to either (x) an adjusted LIBOR rate plus an applicable margin varying from 0.75% to 2.00% or (y) a base rate plus an applicable margin varying from 0.00% to 1.00%, in each case depending on the public debt ratings for non-credit enhanced long-term senior unsecured debt issued by the Company. Loans under the Term Loan will amortize quarterly at a per annum rate of 10.0% of the aggregate principal amount of the loans made under the Term Loan on the funding date, commencing December 31, 2018, with the balance payable on October 3, 2021. The Company may voluntarily prepay the term loans without premium or penalty. The term loan credit agreement contains various covenants, limitations and events of default customary for similar facilities for similarly rated borrowers, including a maximum ratio of net debt to EBITDA of 4.50x with step-downs over time.

Amended Credit Facility

On May 21, 2018, June 6, 2018 and July 13, 2018, the Company and certain of its subsidiaries amended and restated the Company’s existing amended and restated credit agreement with Citibank, N.A., as administrative agent (as amended, the “Amended Credit Facility”) in connection with the acquisition of Frutarom, to, among other things (i) extend the maturity date of the Amended Credit Facility until June 6, 2023, (ii) increase the maximum ratio of net debt to EBITDA on and after the closing date of the acquisition and (iii) increase the drawn down capacity to $1.0 billion, consisting of a $585 million tranche A revolving credit facility (which provides for borrowings available in U.S. dollars, euros, Swiss francs, Japanese yen and/or British pounds sterling, with a sublimit of $25 million for swing line borrowings) (“Tranche A”) and a $415 million tranche B revolving credit facility (which provides for borrowings available in U.S. dollars, euros, Swiss francs, Japanese yen and/or British pounds sterling, with sublimits of €50 million and $25 million for swing line borrowings) (“Tranche B” and, together with Tranche A, the “Revolving Facility”). The interest rate on the Revolving Facility will be, at the applicable borrower’s option, a per annum rate equal to either (x) an adjusted LIBOR rate plus an applicable margin varying from 0.75% to 1.75% or (y) a base rate plus an applicable margin varying from 0.00% to 0.750%, in each case depending on the public debt ratings for non-credit enhanced long-term senior unsecured debt issued by the Company. Other terms and covenants under the Amended Credit Facility remain substantially unchanged.

The Amended Credit Facility is available for general corporate purposes of each borrower and its subsidiaries. The obligations under the Amended Credit Facility are unsecured and the Company has guaranteed the obligations of each other borrower under the Amended Credit Facility. The Company pays a commitment fee on the aggregate unused commitments; such fee is not material.

In connection with the Amended Credit Facility, the Company incurred $0.7 million of debt issuance costs. As of December 31, 2018, the Company was in compliance with all covenants under this Amended Credit Facility. Total availability under the Amended Credit Facility was $1.0 billion, with no outstanding borrowings as of December 31, 2018. As the Amended Credit Facility is a multi-year revolving credit agreement, the Company classifies as long-term debt the portion that it has the intent and ability to maintain outstanding longer than 12 months.

Senior Unsecured Notes

On September 26, 2018, the Company issued $300 million aggregate principal amount of senior unsecured notes that mature on September 25, 2020 (the “2020 Notes”). The 2020 Notes bear interest at a rate of 3.4% per year, payable semi-annually on March 25 and September 25 of each year, beginning March 25, 2019. Total proceeds from the issuance of the 2020 Notes, net of underwriting discounts and offering costs, were $298.9 million.

On September 25, 2018 the Company issued €300 million aggregate principal amount of senior unsecured notes that mature on September 25, 2021 (the “2021 Euro Notes”). The 2021 Notes bear interest at a rate of 0.5% per year, payable annually on September 25 of each year, beginning September 25, 2019. Total proceeds from the issuance of the 2021 Notes, net of underwriting discounts and offering costs, were €297.7 million ($349.5 million in USD).

On September 25, 2018, the Company issued €800 million aggregate principal amount of senior unsecured notes that mature on September 25, 2026 (the “2026 Euro Notes”). The 2026 Notes bear interest at a rate of 1.8% per year, payable annually on September 25 of each year, beginning September 25, 2019. Total proceeds from the issuance of the 2026 Notes, net of underwriting discounts and offering costs, were €794.1 million ($932.2 million in USD).

On September 26, 2018, the Company issued $400 million aggregate principal amount of senior unsecured notes that mature on September 26, 2028 (the “2028 Notes”). The 2028 Notes bear interest at a rate of 4.45% per year, payable semi-annually on March 26 and September 26 of each year, beginning March 26, 2019. Total proceeds from the issuance of the 2028 Notes, net of underwriting discounts and offering costs, were $397.0 million.

On September 26, 2018, the Company issued $800 million aggregate principal amount of senior unsecured notes that mature on September 26, 2048 (the “2048 Notes” and collectively with the 2021 Euro Notes, 2026 Euro Notes, 2020 Notes, 2028 Notes, the "2018 Senior Unsecured Notes"). The 2048 Notes bear interest at a rate of 5.0% per year, payable semi-annually on March 26 and September 26 of each year, beginning March 26, 2019. Total proceeds from the issuance of the 2048 Notes, net of underwriting discounts and offering costs, were $787.2 million.

As discussed in Note 17, the 2021 Euro Notes and 2026 Euro Notes have been designated as a hedge of the Company's net investment in certain subsidiaries.

Tangible Equity Units - Senior Unsecured Amortizing Notes

On September 17, 2018, in connection with the issuance of the TEUs, the Company issued $139.5 million aggregate principal amount of Amortizing Notes. The Amortizing Notes mature on September 15, 2021. Each quarterly cash installment payment of $0.75 (or, in the case of the installment payment due on December 15, 2018, $0.73333) per Amortizing Note will constitute a partial repayment of principal and a payment of interest, computed at an annual rate of 3.79%. Interest will be calculated on the basis of a 360 day year consisting of twelve 30 day months. Payments will be applied first to the interest due and payable and then to the reduction of the unpaid principal amount, allocated as set forth in the amortization schedule in the indenture governing the Amortizing Notes. See Note 9 for further information on the TEUs.

There are no covenants or provisions in the indenture related to the TEUs that would afford the holders of the amortizing notes protection in the event of a highly leveraged transaction, reorganization, restructuring, merger or similar transaction involving the Company that may adversely affect such holders. If a fundamental change occurs, or if the Company elects to settle the SPCs early, then the holders of the Amortizing Notes will have the right to require the Company to repurchase the Amortizing Notes at a repurchase price equal to the principal amount of the Amortizing Notes as of the repurchase date plus accrued and unpaid interest. The indenture also contains customary events of default which would permit the holders of the Amortizing Notes to declare the notes to be immediately due and payable if not cured within applicable grace periods, including the failure to make timely installment payments on the notes or other material indebtedness, failure to give notice of a fundamental change and specified events of bankruptcy and insolvency.

2047 Notes

On May 18, 2017, the Company issued $500.0 million face amount of 4.375% Senior Notes ("2047 Notes") due 2047 at a discount of $1.8 million. The Company received proceeds related to the issuance of these 2047 Notes of $493.9 million which was net of the $1.8 million discount and $4.4 million in underwriting fees (recorded as deferred financing costs). In addition, the Company incurred $0.9 million in legal and professional costs associated with the issuance and such costs were recorded as deferred financing costs. In connection with the debt issuance, the Company entered into pre-issuance hedging transactions that were settled upon issuance of the debt and resulted in a loss of approximately $5.3 million. The discount, deferred financing costs and pre-issuance hedge loss are being amortized as interest expense over the 30 year term of the debt. The 2047 Notes bear interest at a rate of 4.375% per annum, with interest payable semi-annually on June 1 and December 1 of each year, commencing on December 1, 2017. The 2047 Notes will mature on June 1, 2047.

2024 Euro Notes

On March 14, 2016, the Company issued €500.0 million face amount of 1.75% Senior Notes ("2024 Euro Notes") due 2024 at a discount of €0.9 million. The Company received proceeds related to the issuance of these 2024 Euro Notes of €496.0 million which was net of the €0.9 million discount and €3.1 million underwriting discount (recorded as deferred financing costs). In addition, the Company incurred $1.3 million of other deferred financing costs in connection with the debt issuance. In connection with the debt issuance, the Company entered into pre-issuance hedging transactions that were settled upon issuance of the debt and resulted in a loss of approximately $3.2 million. The discount, deferred financing costs and pre-issuance hedge loss are being amortized as interest expense over the eight year term of the debt. The 2024 Euro Notes bear interest at a rate of 1.75% per annum, with interest payable on March 14 of each year, commencing on March 14, 2017. The 2024 Euro Notes will mature on March 14, 2024.

As discussed in Note 17, the 2024 Euro Notes have been designated as a hedge of the Company's net investment in certain subsidiaries.

2023 Notes

On April 4, 2013, the Company issued $300.0 million face amount of 3.20% Senior Notes (“2023 Notes”) due 2023 at a discount of $0.3 million. The Company received proceeds related to the issuance of these 2023 Notes of $297.8 million which was net of the $0.3 million discount and a $1.9 million underwriting discount (recorded as deferred financing costs). In addition, the Company incurred $0.9 million of other deferred financing costs in connection with the debt issuance. The discount and deferred financing costs are being amortized as interest expense over the term of the 2023 Notes. The 2023 Notes bear interest at a rate of 3.20% per year, with interest payable on May 1 and November 1 of each year, commencing on November 1, 2013. The 2023 Notes mature on May 1, 2023.

Senior Notes - 2007

On September 27, 2007, the Company issued $500.0 million of Senior Unsecured Notes (“Senior Notes - 2007”) in four series under the Note Purchase Agreement (“NPA”): (i) $250.0 million in aggregate principal amount of 6.25% Series A Senior Notes due September 27, 2017, (ii) $100.0 million in aggregate principal amount of 6.35% Series B Notes due September 27, 2019, (iii) $50.0 million in aggregate principal amount of 6.50% Series C Notes due September 27, 2022, and (iv) $100.0 million in aggregate principal amount of 6.79% Series D Notes with interest payable on March 27 and September 27 of each year, commending on March 27, 2008. The Senior Notes - 2007 mature on September 27, 2027.

During the third quarter of 2017, the Company made a payment of $250 million on the Senior Notes - 2007. In connection with the acquisition of Frutarom and associated financing, the Company repaid the remaining outstanding $250 million of its Senior Notes - 2007 on September 17, 2018, including accrued and unpaid interest of $7.7 million and the associated make whole payment of $34.9 million. Additionally, the Company incurred a loss of $3.9 million on the termination of a fair value hedge which was recognized in earnings during the third quarter of 2018.

Redemption Provisions

The 2018 Senior Unsecured Notes, 2023 Notes, 2024 Euro Notes and 2047 Notes (collectively, the "Notes") share the same redemption provisions. Upon 30 days’ notice to holders of the Notes, the Company may redeem the Notes for cash in whole, at any time, or in part, from time to time, prior to maturity, at redemption prices that include accrued and unpaid interest and a make-whole premium, as specified in the indenture governing the Notes. However, no make-whole premium will be paid for redemptions of each note on or after the following date:



Note		Redemption Date
2020 Notes		September 25, 2020
2021 Euro Notes		August 25, 2021
2023 Notes		February 1, 2023
2024 Euro Notes		December 14, 2023
2026 Euro Notes		June 25, 2026
2028 Notes		June 26, 2028
2047 Notes		December 1, 2046
2048 Notes		March 26, 2048

The indenture of each note provides for customary events of default and contains certain negative covenants that limit the ability of the Company and its subsidiaries to grant liens on assets, or to enter into sale-leaseback transactions. In addition, subject to certain limitations, in the event of the occurrence of both (1) a change of control of the Company and (2) a downgrade of the Notes below investment grade rating by both Moody’s Investors Services, Inc. and Standard & Poor’s Ratings Services within a specified time period, the Company will be required to make an offer to repurchase the Notes at a price equal to 101% of the principal amount of the Notes, plus accrued and unpaid interest to the date of repurchase.

Outstanding Borrowings

The following table shows the contractual maturities of our long-term debt as of December 31, 2018.



	Payments Due by Period
(DOLLARS IN THOUSANDS)	Total		Less than 1 Year		1-3 Years		3-5 Years		After 5 Years
2020 Notes	300,000		—		300,000		—		—
2021 Euro Notes	340,590		—		340,590		—		—
2023 Notes	300,000		—		—		300,000		—
2024 Euro Notes	567,650		—		—		—		567,650
2026 Euro Notes	908,240		—		—		—		908,240
2028 Notes	400,000		—		—		—		400,000
2047 Notes	500,000		—		—		—		500,000
2048 Notes	800,000		—		—		—		800,000
Term Loan	350,000		—		350,000		—		—
Amortizing Notes	$	128,694	$	45,261	$	83,433	$	—	$	—
Total	$	4,595,174	$	45,261	$	1,074,023	$	300,000	$	3,175,890

Commercial Paper

Commercial paper issued by the Company generally has terms of 90 days or less. As of December 31, 2018 and 2017, there was no commercial paper outstanding. The revolving credit facility is used as a backstop for the Company's commercial paper program. The maximum amount of commercial paper outstanding during 2018 and 2017 was $85 million and $107.5 million, respectively.

Tangible Equity Units

12 Months Ended

Dec. 31, 2018

Equity [Abstract]

Shareholders' Equity

TANGIBLE EQUITY UNITS

On September 17, 2018, the Company issued and sold 16,500,000, 6.00% TEUs at $50 per unit and received proceeds of $800.2 million, net of discounts and issuance costs of $24.8 million. Each TEU is comprised of: (i) a prepaid SPC to be settled by delivery of a specified number of shares of the Company's common stock, and (ii) a senior amortizing note (“Amortizing Note”), with an initial principal amount of $8.45 and a final installment payment date of September 15, 2021. The Company will pay equal quarterly cash installments of $0.75 per Amortizing Note on March 15, June 15, September 15, and December 15 of each year, with the exception of the first installment payment of $0.7333 per Amortizing Note which was due on December 15, 2018. In the aggregate, the annual quarterly cash installments will be equivalent to 6.00% per year. Each installment payment constitutes a payment of interest and a partial repayment of principal, computed at an annual rate of 3.79%. Each TEU may be separated by a holder into its constituent SPC and Amortizing Note after the initial issuance date of the TEUs, and the separate components may be combined to create a TEU after the initial issuance date, in accordance with the terms of the SPC. The TEUs are listed on the New York Stock Exchange under the symbol “IFFT”.

The proceeds from the issuance of the TEUs were allocated to equity and debt based on the relative fair value of the respective components of each TEU as follows:



(IN MILLIONS, EXCEPT FAIR VALUE PER TEU)	SPC		Amortizing Note		Total
Fair Value per TEU	$	41.5	$	8.5	$	50.0

Gross Proceeds	$	685.5	$	139.5	$	825.0
Less: Issuance costs	20.4		4.4		24.8
Net Proceeds	$	665.1	$	135.1	$	800.2

The net proceeds of the SPCs were recorded as additional paid in capital, net of issuance costs. The net proceeds of the Amortizing Notes were recorded as debt, with deferred financing costs recorded as a reduction of the carrying amount of the debt in our consolidated balance sheet. Deferred financing costs related to the Amortizing Notes will be amortized through the maturity date using the effective interest rate method.

Unless settled early at the holder’s or the Company's election, each SPC will automatically settle on September 15, 2021 for a number of shares of common stock per SPC based on the 20 day volume-weighted average price (“VWAP”) of our common stock as follows:



VWAP of IFF Common Stock		Common Stock Issued
Equal to or greater than $159.54		0.3134 shares (minimum settlement rate)
Less than $159.54, but greater than $130.25		$50 divided by VWAP
Less than or equal to $130.25		0.3839 shares (maximum settlement rate)

At any time prior to the second scheduled trading day immediately preceding September 15, 2021, any holder of an SPC may settle any or all of its SPCs early, and the Company will deliver 0.3134 shares of its common stock for each SPC, subject to adjustment. Additionally, the SPCs may be redeemed in the event of a fundamental change as defined in the SPC.

SHAREHOLDERS’ EQUITY

Dividends

Cash dividends declared per share were $2.84, $2.66 and $2.40 in for the years ended December 31, 2018, 2017 and 2016, respectively. The Consolidated Balance Sheet reflects $77.8 million of dividends payable at December 31, 2018. This amount relates to a cash dividend of $0.73 per share declared in December 2018 and paid in January 2019. Dividends declared, but not paid as of December 31, 2017 and December 31, 2016 were $54.4 million ($0.69 per share) and $50.7 million ($0.64 per share), respectively.

Share Repurchases

In December 2012, the Board of Directors authorized a $250.0 million share repurchase program, which commenced in the first quarter of 2013. In August 2015, the Board of Directors approved an additional $250 million share repurchase authorization and extension through December 31, 2017. Based on the total remaining amount of $56.1 million available under the amended repurchase program as of October 31, 2017, the Board of Directors re-approved on November 1, 2017 a $250.0 million share repurchase authorization and extension for a total value of $300.0 million available under the program, which expires on November 1, 2022.

A summary of the stock repurchase activity under the stock repurchase program, reported based on the trade date, is summarized as follows:



(DOLLARS IN THOUSANDS)	Shares Repurchased	Weighted- Average Price per Share		Dollar Amount Repurchased
Year Ended December 31, 2018	108,109	$	143.15	15,475
Year Ended December 31, 2017	459,264	126.44		58,069
Year Ended December 31, 2016	1,058,018	124.01		127,443

Based on the total remaining amount of $279.7 million available under the repurchase program, 2,114,998 shares, or 1.9% of shares outstanding (based on the market price and weighted average shares outstanding as of December 31, 2018) could be repurchased under the program as of December 31, 2018.

On May 7, 2018, we announced that we were suspending our share repurchases until our deleveraging target is met following our acquisition of Frutarom.

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following tables present changes in the accumulated balances for each component of other comprehensive income, including current period other comprehensive income and reclassifications out of accumulated other comprehensive income:



(DOLLARS IN THOUSANDS)	Foreign Currency Translation Adjustments			(Losses) Gains on Derivatives Qualifying as Hedges			Pension and Postretirement Liability Adjustment			Total
Accumulated other comprehensive loss, net of tax, as of December 31, 2017	$	(297,416	)	$	(10,332	)	$	(329,734	)	$	(637,482	)
OCI before reclassifications	(99,580		)	8,011			9,717			(81,852		)
Amounts reclassified from AOCI	—			7,067			10,040			17,107
Net current period other comprehensive income (loss)	(99,580		)	15,078			19,757			(64,745		)
Accumulated other comprehensive loss, net of tax, as of December 31, 2018	$	(396,996	)	$	4,746		$	(309,977	)	$	(702,227	)



(DOLLARS IN THOUSANDS)	Foreign Currency Translation Adjustments				(Losses) Gains on Derivatives Qualifying as Hedges			Pension and Postretirement Liability Adjustment			Total
Accumulated other comprehensive (loss) income, net of tax, as of December 31, 2016	$	(352,025	)		$	7,604		$	(335,674	)	$	(680,095	)
OCI before reclassifications	66,826				(14,782		)	(7,941		)	44,103
Amounts reclassified from AOCI	(12,217		)	(a)	(3,154		)	13,881			(1,490		)
Net current period other comprehensive income (loss)	54,609				(17,936		)	5,940			42,613
Accumulated other comprehensive loss, net of tax, as of December 31, 2017	$	(297,416	)		$	(10,332	)	$	(329,734	)	$	(637,482	)

(a) Represents a foreign currency exchange gain from the release of a currency translation adjustment upon the liquidation of a foreign entity in 2017.



(DOLLARS IN THOUSANDS)	Foreign Currency Translation Adjustments			(Losses) Gains on Derivatives Qualifying as Hedges			Pension and Postretirement Liability Adjustment			Total
Accumulated other comprehensive (loss) income, net of tax, as of December 31, 2015	$	(297,499	)	$	9,401		$	(325,342	)	$	(613,440	)
OCI before reclassifications	(54,526		)	2,334			(21,111		)	(73,303		)
Amounts reclassified from AOCI	—			(4,131		)	10,779			6,648
Net current period other comprehensive income (loss)	(54,526		)	(1,797		)	(10,332		)	(66,655		)
Accumulated other comprehensive (loss) income, net of tax, as of December 31, 2016	$	(352,025	)	$	7,604		$	(335,674	)	$	(680,095	)

The following table provides details about reclassifications out of AOCI to the Consolidated Statement of Comprehensive Income:



	Year Ended December 31,
(DOLLARS IN THOUSANDS)	2018			2017			2016			Affected Line Item in the Consolidated Statement of Comprehensive Income
(Losses) gains on derivatives qualifying as hedges
Foreign currency contracts	$	(7,089	)	$	4,506		$	5,401		Cost of goods sold
Interest rate swaps	(864		)	(789		)	(595		)	Interest expense
Tax	886			(563		)	(675		)	Provision for income taxes
Total	$	(7,067	)	$	3,154		$	4,131		Total, net of income taxes
(Losses) gains on pension and postretirement liability adjustments
Prior service cost	$	7,752		$	7,040		$	7,469		(a)
Actuarial losses	(20,645		)	(24,699		)	(21,103		)	(a)
Tax	2,853			3,778			2,855			Provision for income taxes
Total	$	(10,040	)	$	(13,881	)	$	(10,779	)	Total, net of income taxes

_______________________


(a)	The amortization of prior service cost and actuarial loss is included in the computation of net periodic benefit cost. Refer to Note 16 to the Consolidated Financial Statements for additional information regarding net periodic benefit cost.

Income Taxes

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

Earnings before income taxes consisted of the following:



	December 31,
(DOLLARS IN THOUSANDS)	2018			2017			2016
U.S. (loss) income before taxes	$	(99,125	)	$	(24	)	$	9,078
Foreign income before taxes	546,882			537,069			514,639
Total income before taxes	$	447,757		$	537,045		$	523,717

The income tax provision consisted of the following:



	December 31,
(DOLLARS IN THOUSANDS)	2018			2017			2016
Current tax provision
Federal	$	(11,568	)	$	68,886		$	(2,920	)
State and local	1,709			137			1,383
Foreign	98,433			113,468			105,873
	88,574			182,491			104,336
Deferred tax provision
Federal	(8,287		)	74,446			8,838
State and local	(7,092		)	(11,537		)	(631		)
Foreign	34,781			(4,020		)	6,143
	19,402			58,889			14,350
Total income taxes	$	107,976		$	241,380		$	118,686

Effective Tax Rate Reconciliation

Reconciliation between the U.S. federal statutory income tax rate to the actual effective tax rate was as follows:



	December 31,
	2018		2017		2016
Statutory tax rate	21.0	%	35.0	%	35.0	%
Difference in effective tax rate on foreign earnings and remittances	(6.1	)	(12.6	)	(12.6	)
Tax benefit from supply chain optimization	(3.0	)	(2.3	)	(0.7	)
Unrecognized tax benefit, net of reversals	2.9		2.3		0.6
U.S. tax reform	(1.8	)	26.5		—
Deferred taxes on deemed repatriation	10.1		0.3		1.1
Global intangible low-taxed income (GILTI)	1.8		—		—
Acquisition costs	1.3		—		—
Release of valuation allowance on state deferred	(1.5	)	(1.7	)	—
State and local taxes	0.6		0.1		0.1
Other, net	(1.2	)	(2.7	)	(0.8	)
Effective tax rate	24.1	%	44.9	%	22.7	%

The effective tax rate reflects the impact of deferred taxes on deemed repatriation and an unfavorable mix of earnings, partially offset by U.S. tax reform as discussed below and the reversal of a valuation allowance on certain state deferred tax assets. The 2018, 2017 and 2016 effective tax rates were also favorably impacted by the reversals of liabilities for uncertain tax positions of $3.9 million, $9.5 million and $7.5 million, respectively, principally due to statutory expiry and effective settlement.

U.S. Tax Reform

On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”) that significantly revised the U.S. tax code effective January 1, 2018 by, among other things, lowering the corporate income tax rate from a top marginal rate of 35% to a flat 21% and establishing a modified territorial system requiring a mandatory deemed repatriation tax on undistributed earnings of foreign subsidiaries. Beginning in 2018, the Act also requires a minimum tax on certain future earnings generated by foreign subsidiaries while providing for future tax-free repatriation of such earnings through a 100% dividends-received deduction.

The Tax Act impacted the Company's consolidated results of operations during the 2017 fourth quarter. In particular, the transition to the new territorial tax system required the Company to record a one-time tax or “toll charge” which resulted in a provisional incremental tax expense of $100.6 million principally related to previously unremitted earnings on non-U.S. subsidiaries. The cash portion of the "toll charge" is payable in installments over 8 years beginning in 2018. In addition, the reduction of the U.S. corporate tax rate resulted in a provisional net deferred tax expense of $38.6 million related to the remeasurement of net deferred tax assets as a result of the reduction in the corporate income tax rate.

The U.S. consolidated group has historically generated taxable income after the inclusion of foreign dividends which has allowed the Company to realize its federal deferred tax assets. In the future foreign dividends will be subject to a 100% dividends received deduction under the Tax Act and will not serve as a source of federal taxable income. However, as of December 31, 2018 the U.S. consolidated group is in a cumulative income position, and is expected to continue to be in a cumulative income position principally due to the inclusion of global intangible low-taxed income and expects to realize tax benefits for the reversal of temporary differences. The corresponding U.S. federal taxable income is sufficient to realize $52.9 million in deferred tax assets as of December 31, 2018.

Annually, the Company will generate foreign tax credits to utilize against federal tax due. As the Company does not expect sufficient foreign source income to utilize the entire amount of credits generated, it has recorded a valuation allowance on $3.8 million on the federal tax attributes and has not recorded a foreign tax credit on the expected foreign withholding taxes related to the Company’s change in indefinite reinvestment assertion as of December 31, 2018.

Further, as of December 31, 2018 the Company recorded a benefit for $6.7 million related to a valuation allowance release previously recorded against state deferred tax assets. This was principally due to certain state tax treatment of global intangible low-taxed income, along with other enactments under the Tax Act. The majority of the Company’s state deferred tax assets relate to net operating loss and tax credit carryforwards that have a specified carryforward period. Therefore, the Company has maintained a valuation allowance of $3.4 million on certain state tax attributes based on a state taxable income forecast. The main input into the forecast is the 2018 taxable income projection. Changes in the performance of the North American business, the Company’s transfer pricing policies and adjustments to the Company’s U.S. tax profile due to the Tax Act could impact the estimate.

Deferred Taxes

The deferred tax assets consisted of the following amounts:



	December 31,
(DOLLARS IN THOUSANDS)	2018			2017
Employee and retiree benefits	$	80,382		$	87,400
Credit and net operating loss carryforwards^(a)	225,152			218,933
Intangible assets	12,489			13,622
Gain on foreign currency translation	—			10,885
Interest limitation	19,380			1,120
Inventory	13,308			4,428
Other, net	18,009			7,103
Gross deferred tax assets	368,720			343,491

Property, plant and equipment, net	(22,511		)	(11,745		)
Intangible assets	(616,333		)	(73,979		)
Loss on foreign currency translation	(7,717		)	—
Deferred taxes on deemed repatriation	(88,759		)	(1,610		)
Gross deferred tax liabilities	(735,320		)	(87,334		)
Valuation allowance^(a)	(200,280		)	(207,483		)
Total net deferred tax (liabilities)/assets	$	(566,880	)	$	48,674

_______________________

(a)

During 2018 and 2017, the Company increased its deferred tax assets by $5.9 million and by $58.8 million, respectively, relating to an adjustment to the 2017 and 2016 foreign net operating loss carryforwards, respectively. The entire adjustments of $5.9 million and $58.8 million were offset by corresponding adjustments in valuation allowances. These adjustments are not considered material to the previously issued financial statements.

The Tax Act created significant international tax provisions, including a new category of income, global intangible low-taxed income (GILTI). The Company has elected to treat GILTI as a current period cost if and when incurred. This tax position resulted in an $8.2 million income tax expense for the year ended December 31, 2018.

Net operating loss carryforwards were $209.4 million and $212.5 million at December 31, 2018 and 2017, respectively. If unused, $8.5 million will expire between 2019 and 2038. The remainder, totaling $200.9 million, may be carried forward indefinitely. Tax credit carryforwards were $17.8 million and $12.5 million at December 31, 2018 and 2017, respectively. If unused, the $17.8 million will expire between 2019 and 2038.

Of the $227.2 million deferred tax asset for net operating loss carryforwards and credits at December 31, 2018, the Company considers it unlikely that a portion of the tax benefit will be realized. Accordingly, a valuation allowance of $195.5 million of net operating loss carryforwards and $3.8 million of tax credits has been established against these deferred tax assets. In addition, due to realizability concerns, the Company established a valuation allowance against certain other net deferred tax assets of $3 million.

Uncertain Tax Positions

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:



	December 31,
(DOLLARS IN THOUSANDS)	2018			2017			2016
Balance of unrecognized tax benefits at beginning of year	$	38,162		$	26,428		$	24,198
Gross amount of increases in unrecognized tax benefits as a result of positions taken during a prior year	9,751			1,169			1,254
Gross amount of decreases in unrecognized tax benefits as a result of positions taken during a prior year	(5,362		)	(268		)	(3		)
Gross amount of increases in unrecognized tax benefits as a result of positions taken during the current year	14,677			13,191			8,131
The amounts of decreases in unrecognized benefits relating to settlements with taxing authorities	(4,550		)	—			(6,075		)
Reduction in unrecognized tax benefits due to the lapse of applicable statute of limitation	(1,725		)	(2,358		)	(1,077		)
Balance of unrecognized tax benefits at end of year	$	50,953		$	38,162		$	26,428

At December 31, 2018, 2017 and 2016, there were $47.3 million, $28.5 million, and $19.1 million, respectively, of unrecognized tax benefits recorded to Other liabilities and $3.6 million and $9.7 million recorded to Other current liabilities for 2018 and 2017, respectively. If these unrecognized tax benefits were recognized, all the benefits and related interest would be recorded as a benefit to income tax expense.

For the year ended December 31, 2018, the Company reduced its liabilities for interest and penalties by $1.1 million, net, and increased its liabilities for interest and penalties by $3.0 million, net, and $0.3 million, net for the years ended 2017 and 2016, respectively. At December 31, 2018, 2017 and 2016, the Company had accrued $3.0 million, $2.8 million and $0.8 million, respectively, of interest and penalties classified as Other liabilities and $1.3 million and $0.3 million in 2017 and 2016, respectively, recorded to Other current liabilities. No such liabilities were accrued for the year ended December 31, 2018.

As of December 31, 2018, the Company’s aggregate provision for unrecognized tax benefits, including interest and penalties, was $53.9 million, associated with various tax positions asserted in foreign jurisdictions, none of which is individually material. Of this total, $13.5 million is associated with the Frutarom acquisition.

Other

Tax benefits credited to Shareholders’ equity were de minimis for the year ended December 31, 2018, and were $0.1 million and $0.2 million for the years ended December 31, 2017 and 2016, respectively, associated with stock option exercises and PRSU dividends.

The Tax Act requires a mandatory deemed repatriation tax on undistributed earnings of foreign subsidiaries, and as a result, all previously unremitted earnings for which no U.S. deferred tax liability had been accrued have now been subject to U.S. federal tax and will not be subject to additional U.S. federal tax when repatriated. U.S. state and foreign withholding taxes, however, may still apply in certain jurisdictions. As a result of the Tax Act, the $2.0 billion held by the Company’s non-U.S. subsidiaries was subject to current tax in the U.S. in 2017. Management has changed its assertion with regards to earnings generated in 2018 and prior as part of its final analysis under SAB 118, and consistent with the Company's need to repatriate funds for debt repayment purposes. As we repatriate these funds to the U.S. we will be required to pay income taxes in certain U.S. states and applicable foreign withholding taxes during the period when such repatriation occurs. Accordingly, we have accrued a deferred tax liability of $88.8 million for the effect of repatriating the funds to the U.S. This balance consists of $43.8 million attributable to IFF non-U.S. subsidiaries, and $45.0 million associated with the Frutarom structure which is still preliminary and will be refined through the purchase accounting measurement period.

The Company has ongoing income tax audits and legal proceedings which are at various stages of administrative or judicial review, of which the material items are discussed below. In addition, the Company has other ongoing tax audits and legal proceedings that relate to indirect taxes, such as value-added taxes, capital tax, sales and use and property taxes, which are discussed in Note 20.

The Company also has several other tax audits in process and has open tax years with various taxing jurisdictions that range primarily from 2008 to 2017. Based on currently available information, the Company does not believe the ultimate outcome of any of these tax audits and other tax positions related to open tax years, when finalized, will have a material impact on its financial position.

Net Income Per Share

12 Months Ended

Dec. 31, 2018

Earnings Per Share [Abstract]

Net Income Per Share

NET INCOME PER SHARE

Basic and diluted net income per share is based on the weighted average number of shares outstanding. A reconciliation of shares used in the computation of basic and diluted net income per share is as follows:



(DOLLARS IN THOUSANDS)	2018			2017		2016
Net Income
Net income attributable to IFF stockholders	$	337,302		$	295,665	$	405,031
Less: Increase in redemption value of redeemable noncontrolling interests in excess of earnings allocated	(2,848		)	—		—
Net income available to IFF stockholders	$	334,454		$	295,665	$	405,031
Shares
Weighted average common shares outstanding (basic)⁽¹⁾	87,551			79,070		79,648
Adjustment for assumed dilution⁽²⁾:
Stock options and restricted stock awards	303			300		333
SPC portion of the TEUs	267			—		—
Weighted average shares assuming dilution (diluted)	88,121			79,370		79,981
Net Income per Share
Net income per share - basic	$	3.81		$	3.73	$	5.07
Net income per share - dilutive	3.79			3.72		5.05

_______________________


(1)	For the twelve months ended December 31, 2018, the TEUs were assumed to be outstanding at the minimum settlement amount for weighted-average shares for basic earnings per share. See below for details.


(2)	Effect of dilutive securities includes dilution under stock plans and incremental impact of TEUs. See below for details.

On September 17, 2018, the Company issued and sold 12,667,947 shares of its common stock in an underwritten public offering for net proceeds of approximately $1.6 billion. Additionally, as part of the merger consideration for the acquisition of Frutarom, the Company issued 14,901,445 shares using an exchange ratio of 0.2490 of a share of the Company’s common stock for each ordinary share of Frutarom issued and outstanding at closing. This issuance resulted in former Frutarom shareholders holding approximately 14% of the Company's outstanding common stock as of the closing on October 4, 2018.

As discussed in Note 9, the Company issued 16,500,000 TEUs, consisting of a prepaid SPC and a senior amortizing note, for net proceeds of approximately $800.2 million on September 17, 2018. For the periods outstanding, the SPC portion of the TEUs were assumed to be settled at the minimum settlement amount of 0.3134 shares per SPC for weighted-average shares for basic earnings per share. For diluted earnings per share, the shares were assumed to be settled at a conversion factor based on the 20 day volume-weighted average price (“VWAP”) per share of the Company’s common stock not to exceed 0.3711 shares per SPC.

The Company has issued shares of Purchased Restricted Stock ("PRS") and Purchased Restricted Stock Units (“PRSUs”) which contain nonforfeitable rights to dividends and thus are considered participating securities which are required to be included in the computation of basic and diluted earnings per share pursuant to the two-class method. The two-class method was not presented since the difference between basic and diluted net income per share for both common shareholders, PRS and PRSU holders was less than $0.02 per share for each year and the number of PRS and PRSUs outstanding as of December 31, 2018, 2017 and 2016 was immaterial. Net income allocated to such PRS and PRSUs during 2018, 2017 and 2016 was approximately $1.0 million, $1.0 million and $1.0 million, respectively.

An immaterial amount of Stock-Settled Appreciation Rights (“SSARs”) were excluded from the computation of diluted net income per share at December 31, 2018, 2017 and 2016.

Shareholders' Equity

12 Months Ended

Dec. 31, 2018

Equity [Abstract]

Shareholders' Equity

TANGIBLE EQUITY UNITS

The proceeds from the issuance of the TEUs were allocated to equity and debt based on the relative fair value of the respective components of each TEU as follows:



(IN MILLIONS, EXCEPT FAIR VALUE PER TEU)	SPC		Amortizing Note		Total
Fair Value per TEU	$	41.5	$	8.5	$	50.0

Gross Proceeds	$	685.5	$	139.5	$	825.0
Less: Issuance costs	20.4		4.4		24.8
Net Proceeds	$	665.1	$	135.1	$	800.2



VWAP of IFF Common Stock		Common Stock Issued
Equal to or greater than $159.54		0.3134 shares (minimum settlement rate)
Less than $159.54, but greater than $130.25		$50 divided by VWAP
Less than or equal to $130.25		0.3839 shares (maximum settlement rate)

SHAREHOLDERS’ EQUITY

Dividends

Share Repurchases

A summary of the stock repurchase activity under the stock repurchase program, reported based on the trade date, is summarized as follows:



(DOLLARS IN THOUSANDS)	Shares Repurchased	Weighted- Average Price per Share		Dollar Amount Repurchased
Year Ended December 31, 2018	108,109	$	143.15	15,475
Year Ended December 31, 2017	459,264	126.44		58,069
Year Ended December 31, 2016	1,058,018	124.01		127,443

On May 7, 2018, we announced that we were suspending our share repurchases until our deleveraging target is met following our acquisition of Frutarom.

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)



(DOLLARS IN THOUSANDS)	Foreign Currency Translation Adjustments			(Losses) Gains on Derivatives Qualifying as Hedges			Pension and Postretirement Liability Adjustment			Total
Accumulated other comprehensive loss, net of tax, as of December 31, 2017	$	(297,416	)	$	(10,332	)	$	(329,734	)	$	(637,482	)
OCI before reclassifications	(99,580		)	8,011			9,717			(81,852		)
Amounts reclassified from AOCI	—			7,067			10,040			17,107
Net current period other comprehensive income (loss)	(99,580		)	15,078			19,757			(64,745		)
Accumulated other comprehensive loss, net of tax, as of December 31, 2018	$	(396,996	)	$	4,746		$	(309,977	)	$	(702,227	)



(DOLLARS IN THOUSANDS)	Foreign Currency Translation Adjustments				(Losses) Gains on Derivatives Qualifying as Hedges			Pension and Postretirement Liability Adjustment			Total
Accumulated other comprehensive (loss) income, net of tax, as of December 31, 2016	$	(352,025	)		$	7,604		$	(335,674	)	$	(680,095	)
OCI before reclassifications	66,826				(14,782		)	(7,941		)	44,103
Amounts reclassified from AOCI	(12,217		)	(a)	(3,154		)	13,881			(1,490		)
Net current period other comprehensive income (loss)	54,609				(17,936		)	5,940			42,613
Accumulated other comprehensive loss, net of tax, as of December 31, 2017	$	(297,416	)		$	(10,332	)	$	(329,734	)	$	(637,482	)

(a) Represents a foreign currency exchange gain from the release of a currency translation adjustment upon the liquidation of a foreign entity in 2017.



(DOLLARS IN THOUSANDS)	Foreign Currency Translation Adjustments			(Losses) Gains on Derivatives Qualifying as Hedges			Pension and Postretirement Liability Adjustment			Total
Accumulated other comprehensive (loss) income, net of tax, as of December 31, 2015	$	(297,499	)	$	9,401		$	(325,342	)	$	(613,440	)
OCI before reclassifications	(54,526		)	2,334			(21,111		)	(73,303		)
Amounts reclassified from AOCI	—			(4,131		)	10,779			6,648
Net current period other comprehensive income (loss)	(54,526		)	(1,797		)	(10,332		)	(66,655		)
Accumulated other comprehensive (loss) income, net of tax, as of December 31, 2016	$	(352,025	)	$	7,604		$	(335,674	)	$	(680,095	)

The following table provides details about reclassifications out of AOCI to the Consolidated Statement of Comprehensive Income:



	Year Ended December 31,
(DOLLARS IN THOUSANDS)	2018			2017			2016			Affected Line Item in the Consolidated Statement of Comprehensive Income
(Losses) gains on derivatives qualifying as hedges
Foreign currency contracts	$	(7,089	)	$	4,506		$	5,401		Cost of goods sold
Interest rate swaps	(864		)	(789		)	(595		)	Interest expense
Tax	886			(563		)	(675		)	Provision for income taxes
Total	$	(7,067	)	$	3,154		$	4,131		Total, net of income taxes
(Losses) gains on pension and postretirement liability adjustments
Prior service cost	$	7,752		$	7,040		$	7,469		(a)
Actuarial losses	(20,645		)	(24,699		)	(21,103		)	(a)
Tax	2,853			3,778			2,855			Provision for income taxes
Total	$	(10,040	)	$	(13,881	)	$	(10,779	)	Total, net of income taxes

_______________________


(a)	The amortization of prior service cost and actuarial loss is included in the computation of net periodic benefit cost. Refer to Note 16 to the Consolidated Financial Statements for additional information regarding net periodic benefit cost.

Stock Compensation Plans

12 Months Ended

Dec. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Compensation Plans

STOCK COMPENSATION PLANS

The Company has various equity plans under which its officers, senior management, other key employees and Board of Directors may be granted options to purchase IFF common stock or other forms of stock-based awards. Beginning in 2004, the Company granted Restricted Stock Units (“RSUs”) as the principal element of its equity compensation for all eligible U.S.-based employees and a majority of eligible overseas employees. Vesting of the RSUs is solely time based; the vesting period is primarily 3 years from date of grant. For a small group of employees, primarily overseas, the Company granted stock options prior to 2008.

The cost of all employee stock-based awards are principally recognized on a straight-line attribution basis over their respective vesting periods, net of estimated forfeitures. Total stock-based compensation expense included in the Consolidated Statement of Income and Comprehensive Income was as follows:



	December 31,
(DOLLARS IN THOUSANDS)	2018			2017			2016
Equity-based awards	$	29,401		$	26,567		$	24,587
Liability-based awards	2,517			6,014			3,884
Total stock-based compensation	31,918			32,581			28,471
Less tax benefit	(6,556		)	(5,659		)	(7,375		)
Total stock-based compensation, net of tax	$	25,362		$	26,922		$	21,096

The shareholders of the Company approved the Company’s 2015 Stock Award and Incentive Plan (the “2015 Plan”) on May 6, 2015. The 2015 Plan replaced the Company’s 2010 Stock Award and Incentive Plan (the “2010 Plan”) and provides the source for future deferrals of cash into deferred stock under the Company’s Deferred Compensation Plan (with the Deferred Compensation Plan being deemed a subplan under the 2015 Plan for the sole purpose of funding deferrals under the IFF Share Fund).

Under the 2015 Plan, a total of 1,500,000 shares are authorized for issuance in addition to 1,552,694 shares remaining available under the 2010 plan that were rolled into the 2015 Plan. At December 31, 2018, 837,196 shares were subject to outstanding awards and 1,927,617 shares remained available for future awards under all of the Company’s equity award plans, including the 2015 Plan (excluding shares not yet issued under open cycles of the Company’s Long-Term Incentive Plan).

The Company offers a Long-Term Incentive Plan (“LTIP”) for senior management. The targeted payout is 50% cash and 50% IFF common stock at the end of the three-year cycle and provides for segmentation in which one-fourth of the award vests during each twelve-month period, with the final one-fourth segment vesting over the full three-year period. Grants under the LTIP are currently earned upon achievement of defined Economic Profit ("EP") targets and the Company's performance ranking of Total Shareholder Return as a percentile of the S&P 500 ("Relative TSR"). EP measures operating profitability after considering (i) all operating costs, (ii) income taxes and (iii) a charge for the capital employed in the business. When the award is granted, 50% of the target dollar value of the award is converted to a number of “notional” shares based on the closing price at the beginning of the cycle. For those shares whose payout is based on Relative TSR, compensation expense is recognized using a graded-vesting attribution method, while compensation expense for the remainder of the performance shares (EP targets) is recognized on a straight-line basis over the vesting period based on the probable outcome of the performance condition.

The 2014-2016 cycle concluded at the end of 2016 and an aggregate 47,267 shares of common stock were issued in March 2016. The 2015-2017 cycle concluded at the end of 2017 and an aggregate 46,091 shares of common stock were issued in March 2018. The 2016-2018 cycle concluded at the end of 2018 and an aggregate 25,394 shares of common stock will be issued in March 2019.

In 2006, the Board of Directors approved the Equity Choice Program (the “Program”) for senior management. This program continues under the 2015 Plan. Eligible employees can choose from among three equity alternatives and will be granted such equity awards up to certain dollar awards depending on the participant’s employment grade level. A participant may choose among (1) SSARs, (2) RSUs or (3) PRSUs.

SSARs and Options

SSARs are a contractual right to receive the value, in shares of Company stock, of the appreciation in our stock price from the grant date to the date the SSARs are exercised by the participant. SSARs granted become exercisable on the third anniversary of the grant date and have a maximum term of 7 years. SSARs do not require a financial investment by the SSARs grantee. No SSARs were granted in 2017 or 2016. Stock options require the participant to pay the exercise price at the time they exercise their stock options. No stock options were granted in 2018, 2017 or 2016.

SSARs and options activity was as follows:



(SHARE AMOUNTS IN THOUSANDS)	Shares Subject to SSARs/Options		Weighted Average Exercise Price		SSARs/ Options Exercisable
December 31, 2017	4		$	64.25	4
Granted	9		$	140.10
Exercised	(1	)	60.39
Canceled	—		—
Balance at December 31, 2018	12		$	117.21	4

The weighted average exercise price of SSARs and options exercisable at December 31, 2018, 2017 and 2016 were $64.96, $60.39 and $58.24, respectively.

SSARs and options outstanding at December 31, 2018 was as follows:



Price Range	Number Outstanding (in thousands)	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Aggregate Intrinsic Value (in thousands)
$51 – $60	3	0.34	$	60.39
Over $65	9	6.25	139.36
Total	12		$	117.21	$	177

SSARs and options exercisable as of December 31, 2018 was as follows:



Price Range	Number Exercisable (in thousands)	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Aggregate Intrinsic Value (in thousands)
$51 – $60	3	0.34	$	60.39
Over $65	1	3.36	118.10
	4		$	64.96	$	242

The total intrinsic value of options/SSARs exercised during 2018, 2017 and 2016 totaled $0.1 million, $1.2 million and $1.3 million, respectively.

As of December 31, 2018, there was $0.2 million of total unrecognized compensation cost related to non-vested SSARs granted; such cost is expected to be recognized over a period of 2.3 years.

Restricted Stock Units

The Company has granted RSUs to eligible employees and members of the Board of Directors. Such RSUs are subject to forfeiture if certain conditions are not met. RSUs principally vest 100% at the end of 3 years and contain no performance criteria provisions. An RSU’s fair value is calculated based on the market price of the Company's stock at date of grant, with an adjustment to reflect the fact that such awards do not participate in dividend rights. The aggregate fair value is amortized to expense ratably over the vesting period.

RSU activity was as follows:



	Number of Shares (in thousands)		Weighted Average Grant Date Fair Value Per Share
December 31, 2017	441		$	119.45
Granted	169		132.70
Vested	(145	)	113.89
Forfeited	(17	)	125.30
Balance at December 31, 2018	448		$	125.99

The total fair value of RSUs that vested during the year ended December 31, 2018 was $18.7 million.

As of December 31, 2018, there was $24.7 million of total unrecognized compensation cost related to non-vested RSUs granted under the equity incentive plans; such cost is expected to be recognized over a weighted average period of 1.8 years.

Purchased Restricted Stock and Purchased Restricted Stock Units

In 2014, the grant of awards under the Equity Choice program provided for eligible employees to purchase restricted shares of IFF common stock and deposit them into an escrow account. For each share deposited in escrow by the eligible employee, the Company matched with a grant of a share of restricted stock or, for non-U.S. participants, a restricted stock unit. The shares of restricted stock and restricted stock units generally vest on the third anniversary of the grant date, are subject to continued employment and other specified conditions, and pay dividends if and when paid by the Company. Holders of restricted stock have, in most instances, all of the rights of stockholders, except that they may not sell, assign, pledge or otherwise encumber such shares. The PRSUs provide no such rights. During 2015, the Company modified the program so that all participants, including U.S. participants, began to receive a restricted stock unit instead of a share of restricted stock. Restricted stock units pay dividend equivalents and do not have voting rights.

The following table summarizes the Company's activity for the years ended December 31, 2018, 2017 and 2016:



(DOLLARS IN MILLIONS)	Issued Shares	Aggregate Purchase Price		Covered Shares
	PRSU	PRSU
2018	66,674	$	9.3	33,337
2017	41,801	5.8		20,901
2016	58,629	7.0		29,315

PRSU activity was as follows:



(SHARE AMOUNTS IN THOUSANDS)	Number of Shares		Weighted Average Grant Date Fair Value Per Share
December 31, 2017	159		$	124.15
Granted	67		140.10
Vested	(61	)	118.05
Forfeited	(3	)	129.77
Balance at December 31, 2018	162		$	132.96

The total fair value of PRS and PRSUs that vested during the year ended December 31, 2018 was $8.3 million.

As of December 31, 2018, there was $10.2 million of total unrecognized compensation cost related to non-vested PRS and PRSUs granted under the equity incentive plans; such cost is expected to be recognized over a weighted average period of 1.9 years.

Liability Awards

The Company has granted cash-settled RSUs ("Cash RSUs") to eligible employees that are paid out 100% in cash upon vesting. Such RSUs are subject to forfeiture if certain conditions are not met. Cash RSUs principally vest 100% at the end of three years and contain no performance criteria provisions. A Cash RSU's fair value is calculated based on the market price of the Company's stock at the date of the closing period and is accounted for as a liability award. The aggregate fair value is amortized to expense ratably over the vesting period.

Cash RSU activity was as follows:



(SHARE AMOUNTS IN THOUSANDS)	Cash RSUs		Weighted Average Fair Value Per Share
December 31, 2017	95		$	152.61
Granted	31		132.23
Vested	(30	)	125.38
Forfeited	(4	)	137.83
Balance at December 31, 2018	92		$	132.23

The total fair value of Cash RSUs that vested during the year ended December 31, 2018 was $3.8 million.

As of December 31, 2018, there was $5.3 million of total unrecognized compensation cost related to non-vested Cash RSUs granted under the equity incentive plans; such cost is expected to be recognized over a weighted average period of 1.8 years. The aggregate compensation cost will be adjusted based on changes in the Company’s stock price.

Segment Information

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

The Company is organized into three reportable operating segments, Taste (previously "Flavors"), Scent (previously "Fragrances") and Frutarom; these segments align with the internal structure used to manage these businesses. Frutarom became a separate segment upon the acquisition of the company on October 4, 2018.

Taste is comprised of Flavor Compounds which are sold to the food and beverage industries for use in consumer products such as prepared foods, beverages, dairy, food and sweet products.

Scent is comprised of (1) Fragrance Compounds, which are ultimately used by our customers in two broad categories: Fine Fragrances, including perfumes and colognes, and Consumer Fragrances, including fragrance compounds for personal care (e.g., soaps), household products (e.g., detergents and cleaning agents) and beauty care, including toiletries; (2) Fragrance Ingredients, consisting of synthetic and natural ingredients that can be combined with other materials to create unique fine fragrance and consumer compounds; and (3) Cosmetic Active Ingredients, consisting of active and functional ingredients, botanicals and delivery systems to support our customers’ cosmetic and personal care product lines. Major fragrance customers include the cosmetics industry, including perfume and toiletries manufacturers, and the household products industry, including manufacturers of soaps, detergents, fabric care, household cleaners and air fresheners.

Frutarom creates and manufactures a naturals-focused suite of flavor compounds, functional foods and specialty fine ingredients, largely targeting small, local and regional customers. Frutarom’s products are focused on three principal areas: (1) Savory Solutions, (2) Natural Product Solutions, which includes natural health ingredients, natural color and natural food protection, and (3) Taste Solutions.

The Company's Chief Operating Decision Maker evaluates the performance of these reportable operating segments based on segment profit which is defined as operating profit before restructuring, global expenses (as discussed below) and certain non-recurring items, Interest expense, Other income (expense), net and Taxes on income.

The Global expenses caption represents corporate and headquarter-related expenses which include legal, finance, human resources, certain incentive compensation expenses and other R&D and administrative expenses that are not allocated to individual reportable operating segments. Global assets are principally cash and cash equivalents and other corporate and headquarter-related assets.

Reportable segment information is as follows:



	December 31,
(DOLLARS IN THOUSANDS)	2018		2017		2016
Net sales
Taste	$	1,737,349	$	1,632,166	$	1,496,525
Scent	1,880,630		1,766,553		1,619,825
Frutarom	$	359,560	$	—	$	—
Consolidated	$	3,977,539	$	3,398,719	$	3,116,350



	December 31,
(DOLLARS IN THOUSANDS)	2018		2017
Segment assets
Taste	$	2,024,573	$	1,929,005
Scent	2,340,131		2,284,309
Frutarom	7,961,538		—
Global assets	563,153		385,612
Consolidated	$	12,889,395	$	4,598,926



	December 31,
(DOLLARS IN THOUSANDS)	2018			2017			2016
Segment profit:
Taste	$	395,190		$	360,483		$	330,221
Scent	329,548			318,954			326,705
Frutarom	27,358			—			—
Global expenses	(74,730		)	(60,810		)	(48,352		)
Operational Improvement Initiatives (a)	(2,169		)	(1,802		)	(2,402		)
Acquisition Related Costs (b)	1,289			(20,389		)	(12,195		)
Integration Related Costs (c)	(7,188		)	(4,179		)	—
Legal Charges/Credits, net (d)	—			(1,000		)	(48,518		)
Tax Assessment (e)	—			(5,331		)	—
Restructuring and Other Charges, net (f)	(4,086		)	(19,711		)	(322		)
Gain on Sale of Assets	1,177			184			7,818
FDA Mandated Product Recall (g)	7,125			(11,000		)	—
UK Pension Settlement Charges (h)	—			(2,769		)	—
Frutarom Acquisition Related Costs (i)	(89,632		)	—			—
Operating Profit	583,882			552,630			552,955
Interest expense	(132,558		)	(65,363		)	(52,989		)
Loss on extinguishment of debt	(38,810		)	—			—
Other income (expense), net	35,243			49,778			23,751
Income before taxes	$	447,757		$	537,045		$	523,717
Profit margin
Taste	22.7		%	22.1		%	22.1		%
Scent	17.5		%	18.1		%	20.2		%
Frutarom	7.6		%	—		%	—		%
Consolidated	14.7		%	16.3		%	17.7		%



(a)	For 2018, represents accelerated depreciation related to a plant relocation in India and Taiwan asset write off. For 2017, represents accelerated depreciation and idle labor costs in Hangzhou, China.



(b)	For 2018, represents adjustments to the contingent consideration payable for PowderPure, and transaction costs related to Fragrance Resources and PowderPure within Selling and administrative expenses. For 2017, represents the amortization of inventory "step-up" included in Cost of goods sold and transaction costs related to the acquisitions of Fragrance Resources and PowderPure within Selling and administrative expenses.
(c)	For 2018, represents costs related to the integration of the Frutarom acquisition. For 2017, represents costs related to the integration of the David Michael and Fragrance Resources acquisitions.
(d)	Represents additional charge related to litigation settlement.
(e)	Represents the reserve for payment of a tax assessment related to commercial rent for prior periods.
(f)	For 2018, represents severance costs related to the 2017 Productivity Program and costs associated with the termination of agent relationships in a subsidiary. For 2017, represents severance costs related to the 2017 Productivity Program.
(g)	For 2018, principally represents recoveries from the supplier for the third and fourth quarter, partially offset by final payments to the customer made for the effected product in the first quarter. For 2017, represents management's best estimate of losses related to the previously disclosed FDA mandated recall.
(h)	Represents pension settlement charges incurred in one of the Company's UK pension plans.
(i)	Represents transaction-related costs and expenses related to the acquisition of Frutarom. Amount primarily includes $23.5 million of amortization for inventory "step-up" costs, $39.4 million of bridge loan commitment fees included in Interest expense; $34.9 million make whole payment on the Senior Notes - 2007 and $3.9 million realized loss on a fair value hedge included in Loss on extinguishment of debt; $12.5 million realized gain on a foreign currency derivative included in Other income; and $66.0 million of transaction costs included in Selling and administrative expenses.

The Company has not disclosed revenues at a lower level than provided herein, such as revenues from external customers by product, as it is impracticable for it to do so.

The Company had no customers that accounted for greater than 10% of consolidated net sales in 2018. The Company had one customer that accounted for greater than 10% of consolidated net sales in each year for 2017 and 2016. The Company's largest customer had net sales of $356.8 million, $358.5 million and $364.8 million in 2018, 2017 and 2016, respectively. The majority of these sales were in the Scent reportable operating segment.

Total long-lived assets consist of net property, plant and equipment and amounted to $1,241.2 million and $880.6 million at December 31, 2018 and 2017, respectively. Of this total, $315.3 million and $219.1 million were located in the United States at December 31, 2018 and 2017, respectively, $104.0 million and $113.7 million were located in the Netherlands at December 31, 2018 and 2017, respectively, $74.0 million and $77.9 million were located in Singapore at December 31, 2018 and 2017, respectively, and $178.6 million and $135.8 million were located in China at December 31, 2018 and 2017, respectively.



	Capital Expenditures						Depreciation and Amortization
(DOLLARS IN THOUSANDS)	2018		2017		2016		2018		2017		2016
Taste	$	70,028	$	68,937	$	47,064	$	72,474	$	53,534	$	47,705
Scent	82,206		53,089		73,345		85,078		59,951		50,724
Frutarom	12,878		—		—		8,738		—		—
Unallocated assets	4,982		6,947		6,003		7,502		4,482		4,040
Consolidated	$	170,094	$	128,973	$	126,412	$	173,792	$	117,967	$	102,469



	Net Sales by Geographic Area
(DOLLARS IN THOUSANDS)	2018		2017		2016
Europe, Africa and Middle East	$	1,396,316	$	1,065,596	$	964,931
Greater Asia	991,015		903,546		880,040
North America	1,010,126		901,821		769,081
Latin America	580,082		527,756		502,298
Consolidated	$	3,977,539	$	3,398,719	$	3,116,350

Net sales are attributed to individual regions based upon the destination of product delivery. Net sales related to the U.S. for the years ended December 31, 2018, 2017 and 2016 were $952.6 million, $864.1 million and $735.3 million, respectively. Net sales attributed to all foreign countries in total for the years ended December 31, 2018, 2017 and 2016 were $3.0 billion, $2.5 billion and $2.4 billion, respectively. No non-U.S. country had net sales in any period presented greater than 6% of total consolidated net sales.

Employee Benefits

12 Months Ended

Dec. 31, 2018

Retirement Benefits [Abstract]

Employee Benefits

EMPLOYEE BENEFITS

The Company has pension and/or other retirement benefit plans covering approximately one-sixth of active employees. In 2007, the Company amended its U.S. qualified and non-qualified pension plans under which accrual of future benefits was suspended for all participants that did not meet the rule of 70 (age plus years of service equal to at least 70 as of December 31, 2007). Pension benefits are generally based on years of service and compensation during the final years of employment. Plan assets consist primarily of equity securities and corporate and government fixed income securities. Substantially all pension benefit costs are funded as accrued; such funding is limited, where applicable, to amounts deductible for income tax purposes. Certain other retirement benefits are provided by general corporate assets.

In connection with the acquisition of Frutarom, IFF acquired eight defined benefit pension plans. At December 31, 2018, US assets for these plans totaled $2.1 million and non-US assets for these plans totaled $19.5 million. IFF also assumed a number of defined contribution pension plans.

The Company sponsors a qualified defined contribution plan covering substantially all U.S. employees. Under this plan, the Company matches 100% of participants’ contributions up to 4% of compensation and 75% of participants’ contributions from over 4% to 8%. Employees that are still eligible to accrue benefits under the pension plans are limited to a 50% match of up to 6% of the participants’ compensation.

In addition to pension benefits, certain health care and life insurance benefits are provided to qualifying U.S. employees upon retirement from IFF. Such coverage is provided through insurance plans with premiums based on benefits paid. The Company does not generally provide health care or life insurance coverage for retired employees of foreign subsidiaries; such benefits are provided in most foreign countries by government-sponsored plans, and the cost of these programs is not material.

The Company offers a non-qualified Deferred Compensation Plan ("DCP") for certain key employees and non-employee directors. Eligible employees and non-employee directors may elect to defer receipt of salary, incentive payments and Board of Directors’ fees into participant-directed investments which are generally invested by the Company in individual variable life insurance contracts it owns that are designed to informally fund savings plans of this nature. The cash surrender value of life insurance is based on the net asset values of the underlying funds available to plan participants. At December 31, 2018 and December 31, 2017, the Consolidated Balance Sheet reflects liabilities of $43.6 million and $43.0 million, respectively, related to the DCP in Other liabilities and $22.2 million and $22.5 million, respectively, included in Capital in excess of par value related to the portion of the DCP that will be paid out in IFF shares.

The total cash surrender value of life insurance contracts the Company owns in relation to the DCP and post-retirement life insurance benefits amounted to $43.2 million and $45.2 million at December 31, 2018 and 2017, respectively, and are recorded in Other assets in the Consolidated Balance Sheet.

As of January 1, 2017, the Company changed its approach for calculating the discount rate which is applied to the Consolidated Balance Sheet and Consolidated Statement of Comprehensive Income from a single weighted-average discount rate approach to a multiple discount rate approach. The impact of this change for the full year 2017 was a reduction of approximately $8 million in pension expense.

During 2017, a pension settlement charge of $2.8 million was recorded related to one of the Company's U.K. plans. The settlement charge was triggered by the payment of large lump sum payments made to participants leaving the plan.

The plan assets and benefit obligations of the defined benefit pension plans are measured at December 31 of each year.



	U.S. Plans									Non-U.S. Plans
(DOLLARS IN THOUSANDS)	2018			2017			2016			2018			2017			2016
Components of net periodic benefit cost
Service cost for benefits earned	$	1,971		$	2,175		$	2,497		$	18,738		$	18,652		$	15,210
Interest cost on projected benefit obligation	19,393			20,075			24,096			17,704			17,116			24,413
Expected return on plan assets	(30,994		)	(35,577		)	(33,988		)	(50,546		)	(50,626		)	(45,865		)
Net amortization of deferrals	6,592			5,424			5,821			11,798			14,403			12,802
Settlements and curtailments	—			—			—			—			2,746			—
Net periodic benefit cost	(3,038		)	(7,903		)	(1,574		)	(2,306		)	2,291			6,560
Defined contribution and other retirement plans	10,527			8,604			8,404			6,859			5,681			6,304
Total expense	$	7,489		$	701		$	6,830		$	4,553		$	7,972		$	12,864
Changes in plan assets and benefit obligations recognized in OCI
Net actuarial (gain) loss	$	21,050		$	(12,145	)				$	11,937		$	(20,557	)
Recognized actuarial loss	(6,549		)	(5,383		)				(12,590		)	(17,895		)
Prior service cost	—			93						2,776			—
Recognized prior service (cost) credit	(43		)	(41		)				792			747
Currency translation adjustment	—			—						(16,978		)	36,722
Total recognized in OCI (before tax effects)	$	14,458		$	(17,476	)				$	(14,063	)	$	(983	)



	Postretirement Benefits
(DOLLARS IN THOUSANDS)	2018			2017			2016
Components of net periodic benefit cost
Service cost for benefits earned	$	755		$	718		$	852
Interest cost on projected benefit obligation	2,460			2,710			3,326
Net amortization and deferrals	(5,497		)	(4,913		)	(5,088		)
(Credit) Expense	$	(2,282	)	$	(1,485	)	$	(910	)
Changes in plan assets and benefit obligations recognized in OCI
Net actuarial loss	$	(6,677	)	$	2,895
Recognized actuarial loss	(1,506		)	(1,421		)
Prior service credit	(14,862		)	—
Recognized prior service credit	7,003			6,334
Total recognized in OCI (before tax effects)	$	(16,042	)	$	7,808

The amounts expected to be recognized in net periodic cost in 2019 are:



(DOLLARS IN THOUSANDS)	U.S. Plans		Non-U.S. Plans			Postretirement Benefits
Actuarial loss recognition	$	5,060	$	12,336		$	1,274
Prior service cost (credit) recognition	43		(647		)	(6,051		)

The weighted-average actuarial assumptions used to determine expense at December 31 of each year are:



	U.S. Plans						Non-U.S. Plans
	2018		2017		2016		2018		2017		2016
Discount rate	3.69	%	4.19	%	4.20	%	2.15	%	2.14	%	3.03	%
Expected return on plan assets	6.20	%	7.30	%	7.30	%	5.19	%	5.95	%	6.40	%
Rate of compensation increase	3.25	%	3.25	%	3.25	%	1.98	%	1.97	%	1.98	%

Changes in the postretirement benefit obligation and plan assets, as applicable, are detailed in the following table:



	U.S. Plans						Non-U.S. Plans						Postretirement Benefits
(DOLLARS IN THOUSANDS)	2018			2017			2018			2017			2018			2017
Benefit obligation at beginning of year	$	602,783		$	577,332		$	973,061		$	895,566		$	82,714		$	79,845
Service cost for benefits earned	1,971			2,175			18,738			18,652			755			718
Interest cost on projected benefit obligation	19,393			20,075			17,704			17,116			2,460			2,710
Actuarial (gain) loss	(33,284		)	33,808			(29,433		)	(28,552		)	(6,677		)	2,895
Plan amendments	—			93			2,776			—			(14,862		)	—
Adjustments for expense/tax contained in service cost	—			—			(1,290		)	(1,287		)	—			—
Plan participants’ contributions	—			—			2,047			1,700			435			457
Benefits paid	(32,093		)	(30,700		)	(33,862		)	(28,943		)	(5,200		)	(3,911		)
Curtailments / settlements	—			—			(2,751		)	(6,787		)	—			—
Translation adjustments	—			—			(49,027		)	105,596			—			—
Acquisitions/Transferred Liabilities	3,273			—			48,356			—			—			—
Other	—			—			11,616			—			—			—
Benefit obligation at end of year	$	562,043		$	602,783		$	957,935		$	973,061		$	59,625		$	82,714

Fair value of plan assets at beginning of year	$	581,917		$	525,964		$	929,810		$	792,138
Actual return on plan assets	(23,339		)	81,530			6,699			39,423
Employer contributions	3,524			5,123			18,238			36,645
Participants’ contributions	—			—			2,047			1,700
Benefits paid	(32,093		)	(30,700		)	(33,862		)	(28,943		)
Settlements	—			—			(1,564		)	(6,787		)
Translation adjustments	—			—			(47,247		)	95,634
Acquisitions/Transferred Assets	2,372			—			21,672			—
Other	—			—			989			—
Fair value of plan assets at end of year	$	532,381		$	581,917		$	896,782		$	929,810
Funded status at end of year	$	(29,662	)	$	(20,866	)	$	(61,153	)	$	(43,251	)

The amounts recognized in the balance sheet are detailed in the following table:



	U.S. Plans						Non-U.S. Plans
(DOLLARS IN THOUSANDS)	2018			2017			2018			2017
Other assets	$	20,949		$	33,164		$	54,434		$	38,095
Other current liabilities	(4,092		)	(4,049		)	(882		)	(652		)
Retirement liabilities	(46,519		)	(49,981		)	(114,705		)	(80,694		)
Net amount recognized	$	(29,662	)	$	(20,866	)	$	(61,153	)	$	(43,251	)

The amounts recognized in AOCI are detailed in the following table:



	U.S. Plans				Non-U.S. Plans						Postretirement Benefits
(DOLLARS IN THOUSANDS)	2018		2017		2018			2017			2018			2017
Net actuarial loss	$	151,389	$	136,888	$	321,144		$	338,916		$	12,627		$	20,810
Prior service cost (credit)	151		194		(3,926		)	(7,635		)	(33,189		)	(25,330		)
Total AOCI (before tax effects)	$	151,540	$	137,082	$	317,218		$	331,281		$	(20,562	)	$	(4,520	)



	U.S. Plans						Non-U.S. Plans
(DOLLARS IN THOUSANDS)	2018			2017			2018			2017
Accumulated Benefit Obligation — end of year	$	562,043		$	600,634		$	957,935		$	941,158
Information for Pension Plans with an ABO in excess of Plan Assets:
Projected benefit obligation	$	52,714		$	54,030		$	582,466		$	542,843
Accumulated benefit obligation	52,690			54,030			548,116			510,939
Fair value of plan assets	2,103			—			466,878			461,496
Weighted-average assumptions used to determine obligations at December 31
Discount rate	4.31		%	3.68		%	2.22		%	2.15		%
Rate of compensation increase	3.25		%	3.25		%	1.91		%	1.98		%



(DOLLARS IN THOUSANDS)	U.S. Plans		Non-U.S. Plans		Postretirement Benefits
Estimated Future Benefit Payments
2019	$	35,742	$	26,342	$	3,881
2020	36,918		25,991		3,940
2021	37,710		27,270		4,014
2022	38,823		27,589		4,081
2023	38,449		28,843		4,085
2024 - 2028	190,164		165,681		20,449
Contributions
Required Company Contributions in Following Year (2019)	$	4,207	$	19,258	$	3,882

The Company considers a number of factors in determining and selecting assumptions for the overall expected long-term rate of return on plan assets. The Company considers the historical long-term return experience of its assets, the current and expected allocation of its plan assets and expected long-term rates of return. The Company derives these expected long-term rates of return with the assistance of its investment advisors. The Company bases its expected allocation of plan assets on a diversified portfolio consisting of domestic and international equity securities, fixed income, real estate and alternative asset classes. The asset allocation is monitored on an ongoing basis.

The Company considers a variety of factors in determining and selecting its assumptions for the discount rate at December 31. For the U.S. plans, the discount rate was based on the internal rate of return for a portfolio of high quality bonds rated Aa or higher by either Moody’s or Standard & Poor's with maturities that are consistent with the projected future benefit payment obligations of the plan. For the Non-U.S. Plans, the discount rates were determined by region and are based on high quality long-term corporate bonds. Consideration has been given to the duration of the liabilities in each plan when selecting the bonds to be used in determining the discount rate. The rate of compensation increase for all plans and the medical cost trend rate for the applicable U.S. plans are based on plan experience.

The percentage of assets in the Company's pension plans, by type, is as follows:



	U.S. Plans				Non-U.S. Plans
	2018		2017		2018		2017
Cash and cash equivalents	1	%	1	%	3	%	4	%
Equities	25	%	28	%	12	%	27	%
Fixed income	74	%	71	%	36	%	40	%
Property	—	%	—	%	8	%	4	%
Alternative and other investments	—	%	—	%	41	%	25	%

With respect to the U.S. plans, the expected return on plan assets was determined based on an asset allocation model using the current target allocation, real rates of return by asset class and an anticipated inflation rate. The target investment allocation is 20% equity securities and 80% fixed income securities.

The expected annual rate of return for the non-U.S. plans employs a similar set of criteria adapted for local investments, inflation rates and in certain cases specific government requirements. The target asset allocation, for the non-U.S. plans, consists of approximately: 40% – 70% in fixed income securities; 15% – 40% in equity securities; 5% – 20% in real estate; and 5% – 10% in alternative investments.

The following tables present the Company's plan assets for the U.S. and non-U.S. plans using the fair value hierarchy as of December 31, 2018 and 2017. The plans’ assets were accounted for at fair value and are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company's assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of fair value assets and their placement within the fair value hierarchy levels. For more information on a description of the fair value hierarchy, see Note 17.



	U.S. Plans for the Year Ended
	December 31, 2018
(DOLLARS IN THOUSANDS)	Level 1		Level 2		Level 3		Total
Cash Equivalents	$	—	$	3,490	$	—	$	3,490
Fixed Income Securities
Government & Government Agency Bonds	—		17,827		—		17,827
Corporate Bonds	—		96,566		—		96,566
Municipal Bonds	—		8,138		—		8,138
Assets measured at net asset value⁽¹⁾	—		—		—		404,895
Total	$	—	$	126,021	$	—	$	530,916
Receivables							$	1,465
Total							$	532,381



	U.S. Plans for the Year Ended
	December 31, 2017
(DOLLARS IN THOUSANDS)	Level 1		Level 2		Level 3		Total
Cash Equivalents	$	—	$	7,138	$	—	$	7,138
Fixed Income Securities
Government & Government Agency Bonds	—		16,118		—		16,118
Corporate Bonds	—		100,478		—		100,478
Municipal Bonds	—		8,982		—		8,982
Assets measured at net asset value⁽¹⁾	—		—		—		447,847
Total	$	—	$	132,716	$	—	$	580,563
Receivables							$	1,354
Total							$	581,917

_______________________

(1)

Investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the table above are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Consolidated Balance Sheet. The total amount measured at net asset value includes approximately $133.1 million and $159.6 million in pooled equity funds and $271.8 million and $288.2 million in fixed income mutual funds for the years ended December 31, 2018 and 2017, respectively.



	Non-U.S. Plans for the Year Ended
	December 31, 2018
(DOLLARS IN THOUSANDS)	Level 1		Level 2		Level 3		Total
Cash	$	25,386	$	—	$	—	$	25,386
Equity Securities
U.S. Large Cap	35,929		11,340		—		47,269
U.S. Mid Cap	—		—		—		—
U.S. Small Cap	—		—		—		—
Non-U.S. Large Cap	30,841		8,381		—		39,222
Non-U.S. Mid Cap	905		—		—		905
Non-U.S. Small Cap	628		—		—		628
Emerging Markets	22,608		—		—		22,608
Fixed Income Securities
U.S. Treasuries/Government Bonds	131		—		—		131
U.S. Corporate Bonds	—		29,682		—		29,682
Non-U.S. Treasuries/Government Bonds	137,267		5,494		—		142,761
Non-U.S. Corporate Bonds	30,893		85,841		—		116,734
Non-U.S. Asset-Backed Securities	—		32,587		—		32,587
Non-U.S. Other Fixed Income	2,324		—		—		2,324
Alternative Types of Investments
Insurance Contracts	—		152,947		254		153,201
Other	—		123,786		25,913		149,699
Absolute Return Funds	3,584		61,211		—		64,795
Real Estate
Non-U.S. Real Estate	—		—		68,850		68,850
Total	$	290,496	$	511,269	$	95,017	$	896,782



	Non-U.S. Plans for the Year Ended
	December 31, 2017
(DOLLARS IN THOUSANDS)	Level 1		Level 2		Level 3		Total
Cash	$	33,146	$	—	$	—	$	33,146
Equity Securities
U.S. Large Cap	86,921		19,710		—		106,631
U.S. Mid Cap	623		—		—		623
U.S. Small Cap	474		—		—		474
Non-U.S. Large Cap	84,898		17,117		—		102,015
Non-U.S. Mid Cap	577		—		—		577
Non-U.S. Small Cap	422		—		—		422
Emerging Markets	43,706		1,296		—		45,002
Fixed Income Securities
U.S. Treasuries/Government Bonds	94		—		—		94
U.S. Corporate Bonds	—		39,647		—		39,647
Non-U.S. Treasuries/Government Bonds	129,494		7,492		—		136,986
Non-U.S. Corporate Bonds	26,212		128,121		—		154,333
Non-U.S. Asset-Backed Securities	—		34,350		—		34,350
Non-U.S. Other Fixed Income	2,116		—		—		2,116
Alternative Types of Investments
Insurance Contracts	—		146,998		270		147,268
Hedge Funds	—		—		33,593		33,593
Other	—		29,133		—		29,133
Absolute Return Funds	3,314		21,191		—		24,505
Real Estate
Non-U.S. Real Estate	—		—		38,895		38,895
Total	$	411,997	$	445,055	$	72,758	$	929,810

Cash and cash equivalents are primarily held in registered money market funds which are valued using a market approach based on the quoted market prices of identical instruments. Other cash and cash equivalents are valued daily by the fund using a market approach with inputs that include quoted market prices for similar instruments.

Equity securities are primarily valued using a market approach based on the quoted market prices of identical instruments. Pooled funds are typically common or collective trusts valued at their net asset values (NAVs).

Fixed income securities are primarily valued using a market approach with inputs that include broker quotes and benchmark yields.

Derivative instruments are valued by the custodian using closing market swap curves and market derived inputs.

Real estate values are primarily based on valuation of the underlying investments, which include inputs such as cost, discounted future cash flows, independent appraisals and market comparable data.

Hedge funds are valued based on valuation of the underlying securities and instruments within the funds. Quoted market prices are used when available and NAVs are used for unquoted securities within the funds.

Absolute return funds are actively managed funds mainly invested in debt and equity securities and are valued at their NAVs.

The following table presents a reconciliation of Level 3 non-U.S. plan assets held during the year ended December 31, 2018:



	Non-U.S. Plans
(DOLLARS IN THOUSANDS)	Real Estate			Hedge Funds			Total
Ending balance as of December 31, 2017	$	39,165		$	33,593		$	72,758
Actual return on plan assets	(2,155		)	(1,377		)	(3,532		)
Purchases, sales and settlements	32,094			(6,303		)	25,791
Ending balance as of December 31, 2018	$	69,104		$	25,913		$	95,017

The following weighted average assumptions were used to determine the postretirement benefit expense and obligation for the years ended December 31:



	Expense				Liability
	2018		2017		2018		2017
Discount rate	3.70	%	4.20	%	4.30	%	3.70	%
Current medical cost trend rate	7.75	%	8.00	%	7.50	%	7.75	%
Ultimate medical cost trend rate	4.75	%	4.75	%	4.75	%	4.75	%
Medical cost trend rate decreases to ultimate rate in year	2030		2030		2030		2030

The following table presents the sensitivity of disclosures to changes in selected assumptions for the year ended December 31, 2018:



(DOLLARS IN THOUSANDS)	U.S. Pension Plans		Non-U.S. Pension Plans	Postretirement Benefit Plan
25 Basis Point Decrease in Discount Rate
Change in PBO	14,603		46,475	N/A
Change in ABO	14,524		44,628	1,638
Change in pension expense	(102	)	2,710	44
25 Basis Point Decrease in Long-Term Rate of Return
Change in pension expense	1,248		1,911	N/A

The effect of a 1% increase in the medical cost trend rate would increase the accumulated postretirement benefit obligation and the annual postretirement expense by approximately $0.3 million and less than $0.1 million, respectively; a 1% decrease in the rate would decrease the obligation and expense by approximately $0.3 million and less than $0.1 million, respectively.

The Company contributed $18.2 million to its non-U.S. pension plans in 2018. No contributions were made to the Company's qualified U.S. pension plans in 2018. The Company made $3.5 million in benefit payments with respect to its non-qualified U.S. pension plan. In addition, $5.2 million of payments were made with respect to the Company's other postretirement plans.

Financial Instruments

12 Months Ended

Dec. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments

FINANCIAL INSTRUMENTS

Fair Value

Accounting guidance on fair value measurements specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company's market assumptions. These two types of inputs create the following fair value hierarchy:


•	Level 1 — Quoted prices for identical instruments in active markets.


•	Level 2 — Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets.


•	Level 3 — Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

This hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. The Company determines the fair value of structured liabilities (where performance is linked to structured interest rates, inflation or currency risks) using the London Interbank Offer Rate (“LIBOR”) swap curve and forward interest and exchange rates at period end. Such instruments are classified as Level 2 based on the observability of significant inputs to the model. The Company does not have any instruments classified as Level 3, other than those included in pension asset trusts included in Note 16. These valuations take into consideration the Company's credit risk and its counterparties’ credit risk.

The carrying value and the estimated fair values of financial instruments at December 31 consisted of the following:



	2018				2017
(DOLLARS IN THOUSANDS)	Carrying Value		Fair Value		Carrying Value		Fair Value
LEVEL 1
Cash and cash equivalents⁽¹⁾	$	634,897	$	634,897	$	368,046	$	368,046
LEVEL 2
Credit facilities and bank overdrafts⁽²⁾	4,695		4,695		7,993		7,993
Derivatives⁽³⁾
Derivative assets	—		7,229		—		5,137
Derivative liabilities	—		6,907		—		13,555
Long-term debt:⁽⁴⁾
Senior notes - 2007	—		—		249,765		293,232
2020 Notes	298,499		300,356		—		—
2021 Euro Notes	337,704		341,094		—		—
2023 Notes	298,698		293,017		298,670		304,219
2024 Euro Notes	564,034		584,129		589,848		627,782
2026 Euro Notes	899,886		909,439		—		—
2028 Notes	396,377		401,231		—		—
2047 Notes	493,151		446,725		492,819		525,906
2048 Notes	785,788		783,925		—		—
Term Loan⁽²⁾	349,163		350,000		—
Amortizing Notes⁽⁵⁾	125,007		127,879		—		—

_______________________


(1)	The carrying amount of cash and cash equivalents approximates fair value due to the short maturity of those instruments.


(2)	The carrying amount approximates fair value as the interest rate is reset frequently based on current market rates as well as the short maturity of those instruments.


(3)	Derivative instruments include foreign currency contracts and cross currency swaps for 2018, and foreign currency contracts and interest rate swaps for 2017.


(4)	The fair value of the Company's long-term debt was calculated using discounted cash flows applying current interest rates and current credit spreads based on its own credit risk.


(5)	The fair value of the Amortizing Notes of the TEUs is based on the most recently quoted price for the outstanding securities, adjusted for any known significant deviation in value. The estimated fair value of these long-term obligations is not necessarily indicative of the amount that would be realized in a current market exchange. See Note 9 for additional information on the TEUs.

Derivatives

The Company periodically enters into foreign currency forward contracts with the objective of reducing exposure to cash flow volatility associated with its intercompany loans, foreign currency receivables and payables and anticipated purchases of certain raw materials used in operations. These contracts generally involve the exchange of one currency for a second currency at a future date, have maturities not exceeding twelve months and are with counterparties which are major international financial institutions.

During the year ended December 31, 2017, the Company entered into several forward currency contracts which qualified as net investment hedges, in order to mitigate a portion of its net European investments from foreign currency risk. The effective portions of net investment hedges are recorded in other comprehensive income ("OCI") as a component of Foreign currency translation adjustments in the accompanying Consolidated Statement of Income and Comprehensive Income. Realized gains/(losses) are deferred in AOCI where they will remain until the net investments in the Company's European subsidiaries are divested. Four of these forward currency contracts matured during the year ended December 31, 2018 and as of December 31, 2018, there were no remaining contracts outstanding.

In the second quarter of 2018, the Company entered into a foreign currency contract and two interest rate swap agreements (collectively, the "Deal Contingent Swaps"), which were contingent upon the closing of the Frutarom acquisition, for a total notional amount of $1.9 billion. In the third quarter of 2018, the Company completed the offering and sale of the 2018 Senior Unsecured Notes (see Note 10 for additional information) and settled the Deal Contingent Swaps. The Company received $12.2 million for the foreign currency contract and $0.4 million for the two interest rate swap agreements which is included in Other income, net and Interest Expense, respectively, in the accompanying Consolidated Statement of Income and Comprehensive Income for the year ended December 31, 2018.

In the fourth quarter of 2018, the Company entered into certain cross currency swaps which qualified as net investment hedges in order to mitigate a portion of its net European investments from foreign currency risk. As of December 31, 2018, these swaps were in a net asset position with an aggregate fair value of $1.1 million which was classified as other current assets. Changes in fair value related to cross currency swaps are recorded in OCI.

Subsequent to the issuance of the 2021 Euro Notes and 2026 EUR Notes during the third quarter of 2018, the Company designated the debt as a hedge of a portion of its net European investments. Accordingly, the change in the value of the debt that is attributable to foreign exchange movements is recorded in OCI as a component of foreign currency translation adjustments in the accompanying Consolidated Statement of Income and Comprehensive Income.

Subsequent to the issuance of the 2024 Euro Notes during the first quarter of 2016, the Company designated the debt as a hedge of a portion of its net European investments. Accordingly, the change in the value of the debt that is attributable to foreign exchange movements is recorded in OCI as a component of foreign currency translation adjustments in the accompanying Consolidated Statement of Income and Comprehensive Income.

During the year ended December 31, 2017, the Company entered into several forward currency contracts which qualified as cash flow hedges. The objective of these hedges is to protect against the currency risk associated with forecasted U.S. dollar ("USD") denominated raw material purchases made by Euro ("EUR") functional currency entities which result from changes in the EUR/USD exchange rate. The effective portions of cash flow hedges are recorded in OCI as a component of Gains/(Losses) on derivatives qualifying as hedges in the accompanying Consolidated Statement of Income and Comprehensive Income. Realized gains/(losses) in AOCI related to cash flow hedges of raw material purchases are recognized as a component of Cost of goods sold in the accompanying Consolidated Statement of Income and Comprehensive Income in the same period as the related costs are recognized.

During the first quarter of 2016, the Company entered into and terminated two Euro interest rate swap agreements to hedge the anticipated issuance of fixed-rate debt. These swaps were designated as cash flow hedges. The effective portions of cash flow hedges are recorded in OCI as a component of Losses on derivatives qualifying as hedges in the accompanying Consolidated Statement of Comprehensive Income. The Company incurred a loss of €2.9 million ($3.2 million) due to the termination of these swaps. The loss is being amortized as interest expense over the life of the 2024 Euro Notes as discussed in Note 10.

During the fourth quarter of 2016 and the first quarter of 2017, the Company entered into interest rate swap agreements to hedge the anticipated issuance of fixed-rate debt, which are designated as cash flow hedges. The various hedge instruments were settled upon issuance of the debt on May 18, 2017 and resulted in a loss of approximately $5.3 million. As discussed in Note 10, the loss is being amortized as interest expense over the life of the 2047 Notes.

During the first quarter of 2013, the Company entered into three interest rate swap to hedge the anticipated issuance of fixed-rate debt, which are designated as cash flow hedges. The effective portions of cash flow hedges are recorded in OCI as a component of Losses/gains on derivatives qualifying as hedges in the accompanying Consolidated Statement of Income and Comprehensive Income. During the second quarter of 2013, the Company terminated these swaps and incurred a loss of $2.7 million, which it will amortize as Interest expense over the life of the 2023 Notes (discussed in Note 10).

The following table shows the notional amount of the Company’s derivative instruments outstanding as of December 31, 2018 and December 31, 2017:



	December 31,
(DOLLARS IN THOUSANDS)	2018		2017
Foreign currency contracts	$	585,581	$	896,947
Cross currency swaps	1,087		—
Interest rate swaps	—		150,000

The following tables show the Company’s derivative instruments measured at fair value (Level 2 of the fair value hierarchy) as reflected in the Consolidated Balance Sheet as of December 31, 2018 and December 31, 2017:



	December 31, 2018
(DOLLARS IN THOUSANDS)	Fair Value of Derivatives Designated as Hedging Instruments		Fair Value of Derivatives Not Designated as Hedging Instruments		Total Fair Value
Derivative assets^(a)
Foreign currency contracts	$	4,122	$	2,020	$	6,142
Cross currency swaps	$	1,087	$	—	$	1,087
Total derivative assets	$	5,209	$	2,020	$	7,229
Derivative liabilities^(b)
Foreign currency contracts	205		6,702		6,907



	December 31, 2017
(DOLLARS IN THOUSANDS)	Fair Value of Derivatives Designated as Hedging Instruments		Fair Value of Derivatives Not Designated as Hedging Instruments		Total Fair Value
Derivative assets^(a)
Foreign currency contracts	$	1,159	$	3,978	$	5,137
Derivative liabilities^(b)
Foreign currency contracts	7,842		4,344		12,186
Interest rate swaps	1,369		—		1,369
Total derivative liabilities	$	9,211	$	4,344	$	13,555

_______________________


(a)	Derivative assets are recorded to Prepaid expenses and other current assets in the Consolidated Balance Sheet.


(b)	Derivative liabilities are recorded as Other current liabilities in the Consolidated Balance Sheet.

The following table shows the effect of the Company’s derivative instruments which were not designated as hedging instruments in the Consolidated Statement of Income and Comprehensive Income for the years ended December 31, 2018 and December 31, 2017 (in thousands):



(DOLLARS IN THOUSANDS)	Amount of Gain (Loss) For the years ended December 31,					Location of Gain (Loss) Recognized in Income on Derivative
(DOLLARS IN THOUSANDS)	2018		2017			Location of Gain (Loss) Recognized in Income on Derivative
Foreign currency contracts	$	1,999	$	(10,057	)	Other (income) expense, net
Deal contingent swaps
Foreign currency contracts	12,154		—			Other income, net
Interest rate swaps	352		—			Interest expense
	$	14,505	$	(10,057	)

These net gains (losses) mostly offset any recognized gains (losses) arising from the revaluation of the related intercompany loans during the same respective periods.

The following table shows the effect of the Company’s derivative instruments designated as cash flow and net investment hedging instruments, net of tax, in the Consolidated Statement of Income and Comprehensive Income for the years ended December 31, 2018 and December 31, 2017 (in thousands):



	Amount of Gain(Loss) Recognized in OCI on Derivative (Effective Portion)						Location of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)	Amount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)
	For the years ended December 31,							For the years ended December 31,
	2018			2017				2018			2017
Derivatives in Cash Flow Hedging Relationships:
Foreign currency contracts	$	14,220		$	(14,121	)	Cost of goods sold	$	(6,203	)	$	3,943
Interest rate swaps ⁽¹⁾	864			(3,811		)	Interest expense	(864		)	(789		)
Derivatives or debt instruments in Net Investment Hedging Relationships:
Foreign currency contracts	(518		)	(4,239		)	N/A	—			—
2024 Euro Notes	20,539			(47,672		)	N/A	—			—
2021 Euro Notes & 2026 Euro Notes	30,390			—			N/A	—			—
Total	$	65,495		$	(69,843	)		$	(7,067	)	$	3,154

_______________________


(1)	Interest rate swaps were entered into as pre-issuance hedges for our bond offerings.

The ineffective portion of the above noted cash flow hedges and net investment hedges was not material for the years ended December 31, 2018 and 2017.

The Company expects approximately $7.5 million (net of tax), of derivative gains included in AOCI at December 31, 2018, based on current market rates, will be reclassified into earnings within the next twelve months. The majority of this amount will vary due to fluctuations in foreign currency exchange rates.

Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2018

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

TANGIBLE EQUITY UNITS

The proceeds from the issuance of the TEUs were allocated to equity and debt based on the relative fair value of the respective components of each TEU as follows:



(IN MILLIONS, EXCEPT FAIR VALUE PER TEU)	SPC		Amortizing Note		Total
Fair Value per TEU	$	41.5	$	8.5	$	50.0

Gross Proceeds	$	685.5	$	139.5	$	825.0
Less: Issuance costs	20.4		4.4		24.8
Net Proceeds	$	665.1	$	135.1	$	800.2



VWAP of IFF Common Stock		Common Stock Issued
Equal to or greater than $159.54		0.3134 shares (minimum settlement rate)
Less than $159.54, but greater than $130.25		$50 divided by VWAP
Less than or equal to $130.25		0.3839 shares (maximum settlement rate)

SHAREHOLDERS’ EQUITY

Dividends

Share Repurchases

A summary of the stock repurchase activity under the stock repurchase program, reported based on the trade date, is summarized as follows:



(DOLLARS IN THOUSANDS)	Shares Repurchased	Weighted- Average Price per Share		Dollar Amount Repurchased
Year Ended December 31, 2018	108,109	$	143.15	15,475
Year Ended December 31, 2017	459,264	126.44		58,069
Year Ended December 31, 2016	1,058,018	124.01		127,443

On May 7, 2018, we announced that we were suspending our share repurchases until our deleveraging target is met following our acquisition of Frutarom.

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)



(DOLLARS IN THOUSANDS)	Foreign Currency Translation Adjustments			(Losses) Gains on Derivatives Qualifying as Hedges			Pension and Postretirement Liability Adjustment			Total
Accumulated other comprehensive loss, net of tax, as of December 31, 2017	$	(297,416	)	$	(10,332	)	$	(329,734	)	$	(637,482	)
OCI before reclassifications	(99,580		)	8,011			9,717			(81,852		)
Amounts reclassified from AOCI	—			7,067			10,040			17,107
Net current period other comprehensive income (loss)	(99,580		)	15,078			19,757			(64,745		)
Accumulated other comprehensive loss, net of tax, as of December 31, 2018	$	(396,996	)	$	4,746		$	(309,977	)	$	(702,227	)



(DOLLARS IN THOUSANDS)	Foreign Currency Translation Adjustments				(Losses) Gains on Derivatives Qualifying as Hedges			Pension and Postretirement Liability Adjustment			Total
Accumulated other comprehensive (loss) income, net of tax, as of December 31, 2016	$	(352,025	)		$	7,604		$	(335,674	)	$	(680,095	)
OCI before reclassifications	66,826				(14,782		)	(7,941		)	44,103
Amounts reclassified from AOCI	(12,217		)	(a)	(3,154		)	13,881			(1,490		)
Net current period other comprehensive income (loss)	54,609				(17,936		)	5,940			42,613
Accumulated other comprehensive loss, net of tax, as of December 31, 2017	$	(297,416	)		$	(10,332	)	$	(329,734	)	$	(637,482	)

(a) Represents a foreign currency exchange gain from the release of a currency translation adjustment upon the liquidation of a foreign entity in 2017.



(DOLLARS IN THOUSANDS)	Foreign Currency Translation Adjustments			(Losses) Gains on Derivatives Qualifying as Hedges			Pension and Postretirement Liability Adjustment			Total
Accumulated other comprehensive (loss) income, net of tax, as of December 31, 2015	$	(297,499	)	$	9,401		$	(325,342	)	$	(613,440	)
OCI before reclassifications	(54,526		)	2,334			(21,111		)	(73,303		)
Amounts reclassified from AOCI	—			(4,131		)	10,779			6,648
Net current period other comprehensive income (loss)	(54,526		)	(1,797		)	(10,332		)	(66,655		)
Accumulated other comprehensive (loss) income, net of tax, as of December 31, 2016	$	(352,025	)	$	7,604		$	(335,674	)	$	(680,095	)

The following table provides details about reclassifications out of AOCI to the Consolidated Statement of Comprehensive Income:



	Year Ended December 31,
(DOLLARS IN THOUSANDS)	2018			2017			2016			Affected Line Item in the Consolidated Statement of Comprehensive Income
(Losses) gains on derivatives qualifying as hedges
Foreign currency contracts	$	(7,089	)	$	4,506		$	5,401		Cost of goods sold
Interest rate swaps	(864		)	(789		)	(595		)	Interest expense
Tax	886			(563		)	(675		)	Provision for income taxes
Total	$	(7,067	)	$	3,154		$	4,131		Total, net of income taxes
(Losses) gains on pension and postretirement liability adjustments
Prior service cost	$	7,752		$	7,040		$	7,469		(a)
Actuarial losses	(20,645		)	(24,699		)	(21,103		)	(a)
Tax	2,853			3,778			2,855			Provision for income taxes
Total	$	(10,040	)	$	(13,881	)	$	(10,779	)	Total, net of income taxes

_______________________


(a)	The amortization of prior service cost and actuarial loss is included in the computation of net periodic benefit cost. Refer to Note 16 to the Consolidated Financial Statements for additional information regarding net periodic benefit cost.

Concentrations of Credit Risk	12 Months Ended
Concentrations of Credit Risk	Dec. 31, 2018
Risks and Uncertainties [Abstract]
Concentrations of Credit Risk	CONCENTRATIONS OF CREDIT RISK The Company does not have significant concentrations of risk in financial instruments. Temporary investments are made in a well-diversified portfolio of high-quality, liquid obligations of government, corporate and financial institutions. There are also limited concentrations of credit risk with respect to trade receivables because the Company has a large number of customers who are spread across many industries and geographic regions. The Company’s larger customers are each spread across many sub-categories of its segments and geographical regions. The Company had one customer that accounted for more than 10% of its consolidated net sales for the years ended 2017 and 2016, but less than 10% for the year ended 2018.

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Lease Commitments Minimum rental payments under non-cancelable operating leases are $49.3 million in 2019, $42.2 million in 2020, $36.4 million in 2021, $32.2 million in 2022 and $229.6 million in 2023 and thereafter through 2059. The corresponding rental expense was $42.4 million, $37.8 million and $35.4 million for the years ended December 31, 2018, 2017 and 2016, respectively. None of our leases contain escalation clauses and they do not require capital improvement funding. Guarantees and Letters of Credit The Company has various bank guarantees and letters of credit which are available for use to support its ongoing business operations and to satisfy governmental requirements associated with pending litigation in various jurisdictions. At December 31, 2018, the Company had total bank guarantees and standby letters of credit of approximately $60.8 million with various financial institutions. Included in the above aggregate amount is a total of $17.5 million for other assessments in Brazil for various income tax and indirect tax disputes related to fiscal years 1998-2011. There were no material amounts utilized under the standby letters of credit as of December 31, 2018. In order to challenge the assessments in these cases in Brazil, the Company has been required to and has separately pledged assets, principally property, plant and equipment to cover assessments in the amount of approximately $10.5 million as of December 31, 2018. Lines of Credit The Company has various lines of credit which are available to support its ongoing business operations. As of December 31, 2018, the Company had available lines of credit (in addition to the $1.0 billion of capacity under the Credit Facility as discussed in Note 10) of approximately $104.3 million with various financial institutions. There were no material amounts drawn down pursuant to these lines of credit as of December 31, 2018. Litigation The Company assesses contingencies related to litigation and/or other matters to determine the degree of probability and range of possible loss. A loss contingency is accrued in the Company’s consolidated financial statements if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Because litigation is inherently unpredictable and unfavorable resolutions could occur, assessing contingencies is highly sensitive and requires judgments about future events. On at least a quarterly basis, the Company reviews contingencies related to litigation to determine the adequacy of accruals. The amount of ultimate loss may differ from these estimates and further events may require the Company to increase or decrease the amounts it has accrued on any matter. Periodically, the Company assesses its insurance coverage for all known claims, where applicable, taking into account aggregate coverage by occurrence, limits of coverage, self-insured retentions and deductibles, historical claims experience and claims experience with its insurance carriers. The liabilities are recorded at management’s best estimate of the probable outcome of the lawsuits and claims, taking into consideration the facts and circumstances of the individual matters as well as past experience on similar matters. At each balance sheet date, the key issues that management assesses are whether it is probable that a loss as to asserted or unasserted claims has been incurred and if so, whether the amount of loss can be reasonably estimated. The Company records the expected liability with respect to claims in Other liabilities and expected recoveries from its insurance carriers in Other assets. The Company recognizes a receivable when it believes that realization of the insurance receivable is probable under the terms of the insurance policies and its payment experience to date. Environmental Over the past 20 years, various federal and state authorities and private parties have claimed that we are a Potentially Responsible Party (“PRP”) as a generator of waste materials for alleged pollution at a number of waste sites operated by third parties located principally in New Jersey and have sought to recover costs incurred and to be incurred to clean up the sites. The Company has been identified as a PRP at seven facilities operated by third parties at which investigation and/or remediation activities may be ongoing. The Company analyzes its potential liability on at least a quarterly basis and accrues for environmental liabilities when they are probable and estimable. The Company estimates its share of the total future cost for these sites to be less than $3 million. While joint and several liability is authorized under federal and state environmental laws, the Company believes the amounts it has paid and anticipates paying in the future for clean-up costs and damages at all sites are not and will not have a material adverse effect on its financial condition, results of operations or liquidity. This assessment is based upon, among other things, the involvement of other PRPs at most of the sites, the status of the proceedings, including various settlement agreements and consent decrees and the extended time period over which payments will likely be made. There can be no assurance, however, that future events will not require the Company to materially increase the amounts it anticipates paying for clean-up costs and damages at these sites, and that such increased amounts will not have a material adverse effect on its financial condition, results of operations or cash flows. China Facilities Taste plants During 2015, the Company was notified by Chinese authorities of compliance issues pertaining to the emission of odors from several of its plants in China. As a result, the Company's Guangzhou Taste plant in China was temporarily idled in 2015. The Company has made additional capital improvements in odor-abatement equipment at these plants to address these issues and built a second Taste plant in China, which began operating in the first quarter of 2019. The second taste plant is located in Zhangjiagang. During the fourth quarter of 2016, the Company was notified that certain governmental authorities have begun to evaluate a change in the zoning of the Guangzhou plant. The zoning, if changed, would prevent the Company from continuing to manufacture product at the existing plant. The ultimate outcome of any change that the governmental authorities may propose, the timing of such a change and the nature of any compensation arrangements that might be provided to the Company are not reasonably estimable as of December 31, 2018. The net book value of the Company's Taste plants (including both Guangzhou and Zhangjiagang) was approximately $108 million as of December 31, 2018. Zhejiang Ingredients plant In the first quarter of 2016, the Company received a request from the Chinese government to relocate its Scent Ingredients plant in Zhejiang, China (the plant is located in Hangzhou City in the Zhejiang province). Since then, the Company has been in discussions with the government regarding the timing of the requested relocation and the amount and nature of government compensation to be provided to the Company. In the fourth quarter of 2017, the Company concluded discussions with the government and, based on the agreements reached, expects to receive total compensation payments up to approximately $50 million. The relocation compensation will be paid to the Company over the period of the relocation which is expected to be through the end of 2020. The Company received the first payment of $15 million in the fourth quarter of 2017. Remaining payments will be paid to the Company based on specified milestones. The net book value of the current plant was approximately $21 million as of December 31, 2018. The Company expects to relocate approximately half of production capacity of the facility by the middle of 2019 and the remainder of the production capacity of the facility by the end of 2019. Total China Operations The total net book value of all nine plants in China (one of which is currently under construction) was approximately $194 million as of December 31, 2018. If the Company is required to close a plant, or operate one at significantly reduced production levels on a permanent basis, the Company may be required to record charges that could have a material impact on its consolidated financial results of operations, financial position and cash flows in future periods. Other Contingencies The Company has contingencies involving third parties (such as labor, contract, technology or product-related claims or litigation) as well as government-related items in various jurisdictions in which it operates pertaining to such items as value-added taxes, other indirect taxes, customs and duties and sales and use taxes. It is possible that cash flows or results of operations, in any period, could be materially affected by the unfavorable resolution of one or more of these contingencies. The most significant government-related contingencies exist in Brazil. With regard to the Brazilian matters, the Company believes it has valid defenses for the underlying positions under dispute; however, in order to pursue these defenses, the Company is required to, and has provided, bank guarantees and pledged assets in the aggregate amount of $28.0 million. The Brazilian matters take an extended period of time to proceed through the judicial process and there are a limited number of rulings to date. ZoomEssence As previously disclosed, in March 2012, ZoomEssence, Inc. filed a complaint against the Company in the U.S. District Court for the District of New Jersey alleging trade secret misappropriation, breach of contract and unjust enrichment in connection with certain spray dry technology disclosed to the Company. ZoomEssence sought an injunction and monetary damages. In November 2014, the Company filed a counterclaim against ZoomEssence alleging trade secret misappropriation, breach of contract, breach of the implied covenant of good faith and fair dealing, unjust enrichment, misappropriation of confidential and proprietary information, common law unfair competition, tortious interference with contractual relations, and conversion. During the second quarter of 2017, the Company and ZoomEssence mutually agreed to settle all claims and counterclaims. The parties agreed to dismiss their claims against one another, with prejudice and without any admission of liability or wrongful conduct, to avoid any further expense and disruption from the litigation. The complaint was dismissed, with prejudice, on July 5, 2017. Under the settlement agreement, the Company made a one-time payment to ZoomEssence of $56 million during the second quarter of 2017 and the parties exchanged full mutual releases. Accordingly, the Company recorded an additional charge of $1.0 million during the second quarter of 2017. FDA-Mandated Product Recall The Company periodically incurs product liability claims based on product that is sold to customers that may be defective or otherwise not in accordance with the customer’s requirements. In the first quarter of 2017, the Company was made aware of a claim for product that was subject to an FDA-mandated product recall. As of December 31, 2018, the Company had recorded total charges of approximately $17.5 million with respect to this claim, of which $5.0 million was recorded in the three months ended March 31, 2018. The Company settled the claim with the customer in the first quarter of 2018 for a total of $16.0 million, of which $3.0 million was paid in the fourth quarter of 2017 and $13.0 million was paid during the three months ended March 31, 2018. For the year ended 2018, the Company received $13.1 million for the full and final settlement of its claim from the supplier and insurer for the affected product, which has been recorded as a reduction of cost of sales on the Consolidated Statement of Income and Comprehensive Income. Other The Company determines estimates of reasonably possible losses or ranges of reasonably possible losses in excess of related accrued liabilities, if any, when it has determined that either a loss is reasonably possible or a loss in excess of accrued amounts is reasonably possible and the amount of losses or range of losses is determinable. For all third party contingencies (including labor, contract, technology, tax, product-related claims and business litigation), the Company currently estimates that the aggregate range of reasonably possible losses in excess of any accrued liabilities is $0 to approximately $10 million. The estimates included in this amount are based on the Company’s analysis of currently available information and, as new information is obtained, these estimates may change. Due to the inherent subjectivity of the assessments and the unpredictability of outcomes of legal proceedings, any amounts accrued or included in this aggregate amount may not represent the ultimate loss to the Company from the matters in question. Thus, the Company’s exposure and ultimate losses may be higher or lower, and possibly significantly so, than the amounts accrued or the range disclosed above.

Schedule II - Valuation and Qualifying Accounts and Reserves

12 Months Ended

Dec. 31, 2018

Valuation and Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts and Reserves

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS AND RESERVES

(IN THOUSANDS)



	For the Year Ended December 31, 2018
	Balance at beginning of period		Additions charged to costs and expenses				Acquisitions		Accounts written off			Translation adjustments			Balance at end of period
Allowance for doubtful accounts	$	13,392	$	1,286			$	—	$	(4,642	)	$	(863	)	$	9,173
Valuation allowance on credit and operating loss carryforwards and other net deferred tax assets	207,483		(1,821		)	⁽¹⁾	3,887		—			(9,269		)	200,280

	For the Year Ended December 31, 2017
	Balance at beginning of period		Additions (deductions) charged to costs and expenses				Acquisitions		Accounts written off			Translation adjustments			Balance at end of period
Allowance for doubtful accounts	$	9,995	$	3,798			$	—	$	(1,496	)	$	1,095		$	13,392
Valuation allowance on credit and operating loss carryforwards and other net deferred tax assets	152,752		35,646			⁽²⁾	—		—			19,085			207,483

	For the Year Ended December 31, 2016
	Balance at beginning of period		Additions charged to costs and expenses				Acquisitions		Accounts written off			Translation adjustments			Balance at end of period
Allowance for doubtful accounts	$	8,229	$	2,452			$	—	$	(225	)	$	(461	)	$	9,995
Valuation allowance on credit and operating loss carryforwards and other net deferred tax assets	339,395		(171,408		)	⁽³⁾⁽⁴⁾	—		—			(15,235		)	152,752

_______________________


(1)	The 2018 amount includes an adjustment to the 2017 foreign net operating loss carryforwards in the amount of $5.9 million, as discussed in Note 11 of the Consolidated Financial Statements.


(2)	The 2017 amount includes an adjustment to the 2016 foreign net operating loss carryforwards in the amount of $58.8 million, as discussed in Note 11 of the Consolidated Financial Statements.


(3)	The 2016 amount includes an adjustment to the 2015 foreign net operating loss carryforwards in the amount of $7.6 million, as discussed in Note 11 of the Consolidated Financial Statements.


(4)	The Company executed a legal entity restructuring that resulted in a significant reduction of fully valued deferred tax assets.

Redeemable Noncontrolling Interests

12 Months Ended

Dec. 31, 2018

Noncontrolling Interest [Abstract]

Redeemable Noncontrolling Interests

REDEEMABLE NON-CONTROLLING INTERESTS

Through certain subsidiaries of Frutarom, there are certain non-controlling interests that carry redemption features. The non-controlling interest holders have the right, over a stipulated period of time, to sell their respective interests to Frutarom, and Frutarom has the option to purchase these interests (subject to the same timing). These options carry identical price and conditions of exercise, and will be settled in accordance with the multiple of the average EBITDA of consecutive quarters to be achieved during the period ending prior to the exercise date.

The following table sets forth the details of the Company's redeemable non-controlling interests:



(DOLLARS IN THOUSANDS)	Redeemable Noncontrolling Interests
Balance at December 31, 2017	$	—
Acquired through acquisitions during 2018	97,510
Share of profit or loss attributable to noncontrolling interests	2,196
Redemption value mark-up for the current period	2,848
Sale of a subsidiary with redeemable noncontrolling interests	(14,673		)
Exercises of redeemable noncontrolling interests	(6,075		)
Balance at December 31, 2018	81,806

The decrease in redeemable noncontrolling interests is primarily due to the exercise of options and the sale of a subsidiary during the fourth quarter of 2018.

Nature of Operations and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fiscal Year End	The Company has historically operated on a 52/53 week fiscal year generally ending on the Friday closest to the last day of the year. For ease of presentation, December 31 is used consistently throughout the financial statements and notes to represent the period-end date. The 2018, 2017 and 2016 fiscal years were 52 week periods. For the 2018, 2017 and 2016 fiscal years, the actual closing dates were December 28, December 29, and December 30, respectively.
Use of Estimates	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts and accompanying disclosures. These estimates are based on management’s best knowledge of current events and actions the Company may undertake in the future. Actual results may ultimately differ from estimates.
Principles of Consolidation	The consolidated financial statements include the accounts of International Flavors & Fragrances Inc. and those of its subsidiaries. Significant intercompany balances and transactions have been eliminated. To the extent a subsidiary is not wholly owned, any related noncontrolling interests are included as a separate component of Shareholders’ Equity.
Revenue Recognition	Revenue from contracts with customers is recognized when the contract or purchase order has received approval and commitment from both parties, has the rights of the parties and payment terms (which can vary by customer) identified, has commercial substance, and collectability of consideration is probable. For the Company's Flavors, Fragrances Compounds and Frutarom products, revenue is recognized for the majority of contracts when the Company satisfies its performance obligation by transferring control of the goods to the customer. Revenue is recognized over time for a small number of contracts, and the amount of revenue recognized is based on the extent of progress towards completion of the promised goods, using the output method. For the Company's Fragrances Ingredients products, revenue is recognized for the majority of contracts when the Company satisfies its performance obligation by transferring control of the goods to the customer. Sales are reduced, at the time revenue is recognized, for applicable discounts, rebates and sales allowances based on historical experience. Related accruals are included in Other current liabilities in the accompanying Consolidated Balance Sheet. The Company considers shipping and handling activities undertaken after the customer has obtained control of the related goods as a fulfillment activity. Net sales include shipping and handling charges billed to customers. Cost of goods sold includes all costs incurred in connection with shipping and handling.
Foreign Currency Translation	The Company translates the assets and liabilities of non-U.S. subsidiaries into U.S. dollars at year-end exchange rates. Income and expense items are translated at average exchange rates during the year. Cumulative translation adjustments are shown as a separate component of Shareholders’ Equity.
Research and Development	Research and development (“R&D”) expenses relate to the development of new and improved tastes or scents, technical product support and compliance with governmental regulation. All research and development costs are expensed as incurred.
Cash Equivalents	Cash equivalents include highly liquid investments with maturities of three months or less at date of purchase.
Restricted Cash	Restricted cash is comprised of cash or cash equivalents which has been placed into an account that is restricted for a specific use and from which the Company cannot withdraw the cash on demand.
Accounts Receivable	The Company sells certain accounts receivable on a non-recourse basis to unrelated financial institutions under “factoring” agreements that are sponsored, solely and individually, by certain customers. The Company accounts for these transactions as sale of receivables, removes the receivables sold from its financial statements, and records cash proceeds when received by the Company.
Inventories	Inventories are stated at the lower of cost (on a weighted-average basis) or net realizable value.
Property, Plant and Equipment	Property, plant and equipment are recorded at cost. Depreciation is calculated on a straight-line basis, principally over the following estimated useful lives: buildings and improvements, 10 to 40 years; machinery and equipment, 3 to 20 years; information technology hardware and software, 3 to 7 years; and leasehold improvements which are included in buildings and improvements, the estimated life of the improvements or the remaining term of the lease, whichever is shorter.
Finite-Lived Intangible Assets	Finite-lived intangible assets include customer relationships, patents, trade names, technological know-how and other intellectual property valued at acquisition and amortized on a straight-line basis over the following estimated useful lives: customer relationships, 11 - 23 years; patents, 11 years; trade names, 14 - 28 years; and technological know-how, 5 - 28 years. The Company reviews long-lived assets for impairment when events or changes in business conditions indicate that their full carrying value may not be recovered. An estimate of undiscounted future cash flows produced by an asset or group of assets is compared to the carrying value to determine whether impairment exists. If assets are determined to be impaired, the loss is measured based on an estimate of fair value using various valuation techniques, including a discounted estimate of future cash flows.
Goodwill	Goodwill represents the difference between the total purchase price and the fair value of identifiable assets and liabilities acquired in business acquisitions. In assessing the potential for impairment of goodwill, management uses the most current actual and forecasted operating data available and current market-based assumptions in accordance with the criteria in Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 350. The Company has identified five reporting units: (1) Flavor Compounds, (2) Fragrance Compounds, (3) Fragrance Ingredients, (4) Cosmetic Actives Ingredients and (5) Frutarom. These reporting units were determined based on the level at which the performance is measured and reviewed by segment management. In the case of Frutarom, the reporting unit determination is preliminary and is subject to change. The Company performs an annual goodwill impairment test for its reporting units by assessing the fair value of the reporting units based on discounted cash flows. If a reporting unit’s carrying amount exceeds its fair value, the Company will record an impairment charge based on that difference, and the impairment charge will be limited to the amount of goodwill allocated to that reporting unit. The Company completed its annual goodwill impairment test as of November 30, 2018, which indicated no impairment of goodwill as the estimated fair values substantially exceeded the carrying values of each of these reporting units, except for the recently acquired Frutarom reporting unit for which the fair value is expected to approximate the carrying value.
Income Taxes	The Company accounts for taxes under the asset and liability method. Under this method, deferred income taxes are recognized for temporary differences between the financial statement and tax return bases of assets and liabilities, based on enacted tax rates and other provisions of the tax law. The effect of a change in tax laws or rates on deferred tax assets and liabilities is recognized as income in the period in which such change is enacted. Future tax benefits are recognized to the extent that the realization of such benefits is more likely than not, and a valuation allowance is established for any portion of a deferred tax asset that management believes may not be realized. The Company recognizes uncertain tax positions that it has taken or expects to take on a tax return. Pursuant to accounting requirements, the Company first determines whether it is “more likely than not” its tax position will be sustained if the relevant tax authority were to audit the position with full knowledge of all the relevant facts and other information. For those tax positions that meet this threshold, the Company measures the amount of tax benefit based on the largest amount of tax benefit that it has a greater than 50% chance of realizing in a final settlement with the relevant authority. Those tax positions failing to qualify for initial recognition are recognized in the first interim period in which they meet the more likely than not standard. The Company maintains a cumulative risk portfolio relating to all of its uncertainties in income taxes in order to perform this analysis, but the evaluation of its tax positions requires significant judgment and estimation in part because, in certain cases, tax law is subject to varied interpretation, and whether a tax position will ultimately be sustained may be uncertain. Interest and penalties related to unrecognized tax benefits are recognized as a component of income tax expense.
Retirement Benefits	Current service costs of retirement plans and postretirement health care and life insurance benefits are accrued. Prior service costs resulting from plan improvements are amortized over periods ranging from 10 to 20 years.
Financial Instruments	Derivative financial instruments are used to manage interest and foreign currency exposures. The gain or loss on the hedging instrument is recorded in earnings at the same time as the transaction being hedged is recorded in earnings. The associated asset or liability related to the open hedge instrument is recorded in Prepaid expenses and Other current assets or Other current liabilities, as applicable. The Company records all derivative financial instruments on the balance sheet at fair value. Changes in a derivative’s fair value are recognized in earnings unless specific hedge criteria are met. If the derivative is designated as a fair value hedge, the changes in the fair value of the derivative and of the hedged item attributable to the hedged risk are recognized in Net income. If the derivative is designated as a cash flow hedge, the effective portions of changes in the fair value of the derivative are recorded in Accumulated other comprehensive income ("AOCI") in the accompanying Consolidated Balance Sheet and are subsequently recognized in Net income when the hedged item affects earnings. Ineffective portions of changes in the fair value of cash flow hedges, if any, are recognized as a charge or credit to earnings.
Software Costs	The Company capitalizes direct internal and external development costs for certain significant projects associated with internal-use software and amortizes these costs over 7 years. Neither preliminary evaluation costs nor costs associated with the software after implementation are capitalized. Costs related to projects that are not significant are expensed as incurred.
Net Income Per Share	Under the two-class method, earnings are adjusted by accretion amounts to redeemable noncontrolling interests recorded at redemption value. The adjustments represent in-substance dividend distributions to the noncontrolling interest holders as the holders have a contractual right to receive a specified amount upon redemption. As a result, earnings are adjusted to reflect this in-substance distribution that is different from other common shareholders. In addition, the Company has unvested share based payment awards with a right to receive nonforfeitable dividends and thus are considered participating securities which are required to be included in the computation of basic and diluted earnings per share. Basic earnings (loss) per share represents the amount of earnings for the period available to each share of common stock outstanding during the period. Basic earnings (loss) per share includes the effect of issuing shares of common stock assuming (i) the prepaid stock purchase contracts (“SPC”) are converted into the minimum number of common stock under the if-converted method, and (ii) an adjustment to earnings (loss) to reflect adjustments made to record the redeemable value of redeemable non-controlling interests. Diluted earnings (loss) per share also includes the effect of issuing shares of common stock, assuming (i) stock options and warrants are exercised, (ii) restricted stock units are fully vested under the treasury stock method, and (iii) the incremental effect of the prepaid stock purchase contracts (“SPC”) converted into the maximum number of common stock under the if-converted method.
Stock-Based Compensation	Compensation cost of all stock-based awards is measured at fair value on the date of grant and recognized over the service period for which awards are expected to vest. The cost of such stock-based awards is principally recognized on a straight-line attribution basis over their respective vesting periods, net of estimated forfeitures.
Financing Costs	Costs incurred in the issuance of debt are deferred and amortized as part of interest expense over the stated life of the applicable debt instrument. Unamortized deferred financing costs relating to debt are presented as a reduction in the amount of debt outstanding on the Consolidated Balance Sheet. Unamortized deferred financing costs relating to the revolving credit facility are recorded in Other assets on the Consolidated Balance Sheet.
Redeemable Non-controlling Interests	Non-controlling interests in subsidiaries that are redeemable for cash or other assets outside of the Company’s control are classified as mezzanine equity, outside of equity and liabilities, at the greater of the carrying value or the redemption value. The increases or decreases in the estimated redemption amount are recorded with corresponding adjustments against Capital in excess of par value and are reflected in the computation of earnings per share using the two-class method.
Adoption of Highly Inflationary Accounting in Argentina	U.S. GAAP requires the use of highly inflationary accounting for countries whose cumulative three-year inflation rate exceeds 100 percent. In the second quarter of 2018, the Argentine peso rapidly devalued relative to the U.S. dollar, which along with increased inflation, indicated that the three-year cumulative inflation rate in that country exceeded 100 percent as of July 1, 2018. As a result, the Company adopted highly inflationary accounting as of the beginning of the third quarter of 2018 for its subsidiary in Argentina. Under highly inflationary accounting, the functional currency of the Company's subsidiary in Argentina became the U.S. dollar, and its results for the third and fourth quarter have been recorded on that basis. The net effect of the adoption of the U.S. dollar as the functional currency did not result in a material change to the Company's Consolidated Balance Sheet or the Consolidated Statement of Income and Comprehensive Income.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In October 2018, the FASB issued Accounting Standards Update ("ASU") 2018-16, “Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate ("SOFR") Overnight Index Swap ("OIS") Rate as a Benchmark Interest Rate for Hedge Accounting Purposes." The ASU allows for the use of the OIS rate based on the SOFR as a U.S. benchmark interest rate for purposes of applying hedge accounting under ASC 815, Derivatives and Hedging. The ASU is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the impact this guidance will have on its Consolidated Financial Statements. In August 2018, the FASB issued ASU 2018-15, “Intangibles - Goodwill and Other - Internal - Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force).” The ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). This guidance is effective for fiscal years beginning after December 15, 2019, and for interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact this guidance will have on its Consolidated Financial Statements. In August 2018, the FASB issued ASU 2018-14, "Compensation - Retirement Benefits - Defined Benefit Plans (Subtopic 715-20)", which modifies the disclosure requirements on company-sponsored defined benefit plans. The ASU is effective for fiscal years beginning after December 15, 2020 on a retrospective basis to all periods presented. Early adoption is permitted. The Company is currently evaluating the impact this guidance will have on its Consolidated Financial Statements. In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820)", which modifies, removes and adds certain disclosure requirements on fair value measurements. The ASU is effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. Early adoption is permitted. The Company is currently evaluating the impact this guidance will have on its Consolidated Financial Statements. In June 2018, the FASB issued ASU 2018-07, "Compensation - Stock Compensation (Topic 718)" intended to reduce cost and complexity and to improve financial reporting for nonemployee share-based payments. This guidance expands the scope of Topic 718, Compensation-Stock Compensation which currently only includes share-based payments to employees to include share-based payments issued to nonemployees for goods or services. This guidance is effective for public companies for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. The Company is currently evaluating the impact this guidance will have on its Consolidated Financial Statements. In February 2018, FASB issued ASU 2018-02, "Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income" which allows for a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Act, in addition to requiring certain disclosures about stranded tax effects. This guidance is effective for periods beginning after December 15, 2018, with an election to adopt early. The Company is currently evaluating the impact this guidance may have on its Consolidated Financial Statements. In August 2017, FASB issued ASU 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities" which eliminates the requirement to separately measure and present hedge ineffectiveness and aligns the presentation of hedge gains and losses with the underlying hedge item. This guidance is effective for fiscal years beginning after December 15, 2018. Early adoption is permitted. The amended presentation and disclosure requirements are to be applied prospectively while the amendments to cash flow and net investment hedge relationships are to be applied on a modified retrospective basis. The Company is currently evaluating the impact this guidance will have on its Consolidated Financial Statements. In May 2017, the FASB issued ASU 2017-09, "Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting" which clarifies changes to the terms or conditions of a share-based payment award that require an entity to apply modification accounting. This guidance is effective for the current year. The Company has determined that this guidance does not have an impact on its Consolidated Financial Statements as it is not the Company's practice to modify the terms or conditions of a share-based payment award after it has been granted. In March 2017, the FASB issued ASU 2017-07, "Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost" which requires employers who present a measure of operating income in their statement of income to include only the service cost component of net periodic pension cost and postretirement costs in operating expenses. This guidance is effective for 2018, and as required, has been applied on a full retrospective basis. The impact of the adoption of this standard on January 1, 2018 was a decrease in operating profit by approximately $28.8 million and $14.4 million for the fiscal year 2017 and 2016, respectively, and corresponding increases in Other (income) expense, net as presented in the Company's Consolidated Statement of Income and Comprehensive Income for the respective periods. There was no impact to Net income or Net Income per share in either period. See Note 16 of the Consolidated Financial Statements for further details. The new guidance also limits the amount of net periodic benefit cost eligible for capitalization to assets. The new guidance permits only the service cost component of net periodic benefit cost to be eligible for capitalization. The Company applied the practical expedient that permits the use of amounts previously disclosed as the basis for retrospective application and, as provided under the practical expedient, has not presented the income statement impact based on the capitalization of the applicable costs. In November 2015, the FASB issued ASU 2016-18, "Statement of Cash Flows (Topic 230): Restricted Cash" which requires the statement of cash flows to explain the change during the period in the total cash, cash equivalents and amounts generally described as restricted cash. Amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning and ending total amounts shown on the statement of cash flows. Retrospective presentation is required. The company retroactively applied this new guidance as of December 30, 2017, the first day of the Company’s 2018 fiscal year In August 2016, the FASB issued ASU 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments" which requires changes to the classification of certain activities within the statement of cash flows. This guidance is effective for the current year, and the Company has determined that this adoption does not have an impact on its Consolidated Statement of Cash Flows. In June 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments", with subsequent amendments, which requires issuers to measure expected credit losses for financial assets based on historical experience, current conditions and reasonable and supportable forecasts. As such, an entity will use forward-looking information to estimate credit losses. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for the fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently evaluating the impact this guidance may have on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)", with subsequent amendments, which requires changes to the accounting for leases and supersedes existing lease guidance, including ASC 840 - Leases. Among other things, ASU 2016-02 requires recognition of a right-of-use asset and a liability for future lease payments for contracts that meet the definition of a lease and also requires disclosure of certain information about leasing arrangements. ASU 2016-02 is effective January 1, 2019. On July 30, 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements, which, among other things, allows companies to elect an optional transition method to apply the new lease standard through a cumulative-effect adjustment in the period of adoption. The Company adopted the standard on December 29, 2018, the first day of its 2019 year, using the optional transition method. The Company has made substantial progress in executing its implementation plan. It is in the process of revising its controls and processes to address the lease standard and has substantially completed the implementation and data input for the lease accounting software tool that it will use post adoption. The Company is electing certain practical expedients including the expedient that allows it to carry forward prior lease classifications under ASC 840. Adoption of the standard is expected to have a material impact on the Company's consolidated statement of financial position due to the addition of lease assets and liabilities related to operating leases. ASU 2016-02 also requires expanded disclosure regarding the amounts, timing and uncertainties of cash flows related to a company’s lease portfolio. The Company is evaluating these disclosure requirements and is incorporating the collection of relevant data into its existing financial reporting processes in preparation for disclosure in 2019. The Company does not expect ASU 2016-02 to have a material impact on its annual results of operations and/or cash flows. Revenue Recognition - Adoption of ASC 606 In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers", with subsequent amendments, that provides for a comprehensive model to be used in accounting for revenue arising from contracts with customers (ASC Topic 606, Revenue from Contracts with Customers) (the “Revenue Standard”). Under the Revenue Standard, revenue is recognized to reflect the transfer of goods or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. Companies have the option to apply the new guidance under a retrospective approach to each prior reporting period presented or a modified retrospective approach with the cumulative effect of initially applying the new guidance recognized at the date of initial application within the Consolidated Balance Sheet. The new Revenue Standard became effective for annual reporting periods beginning after December 15, 2017, and the Company has adopted the new revenue standard using the modified retrospective approach on December 30, 2017, the first day of the Company’s 2018 fiscal year. The Company creates and manufactures flavors and fragrances. Approximately 90% of its products, principally flavor compounds and fragrance compounds, are customized to customer specifications and have no alternative use other than the sale to the specific customer (“Compounds products”). The remaining revenue is derived largely from ingredients products that, generally, are commodity products with alternative uses and not customized (“Ingredients products”). With respect to the vast majority of the Company’s contracts for Compounds products, the Company currently recognizes revenue on the transfer of control of the product at a point in time as the Company does not have an “enforceable right to payment for performance to date” (as set out in the Revenue Standard). With respect to a small number of contracts for the sale of Compounds, the Company has an “enforceable right to payment for performance to date” and as the products do not have an alternative use, the Company recognizes revenue for these contracts over time and records a contract asset using the output method. The output method recognizes revenue on the basis of direct measurements of the value to the customer of the goods or services transferred to date relative to the remaining goods or services promised under the contract. With respect to the Company’s contracts related to Ingredients products, the Company currently recognizes revenue on the transfer of control of the product at a point in time as such products generally have alternative uses and the Company does not have an “enforceable right to payment for performance to date.” As the Company adopted the Revenue Standard using the modified retrospective method effective the first day of its 2018 fiscal year, results for its 2018 fiscal year are presented under the Revenue Standard while prior period amounts are not adjusted and continue to be reported in accordance with our historic accounting under ASC Topic 605, which required that revenue was accounted for when the earnings process was complete.
Reclassifications and Revisions	Reclassifications As discussed above, the Company has reclassified certain components of net periodic benefit expense (income) to Other income (expense), net.

Nature of Operations and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Inventory

Our inventories consisted of the following:



	December 31,
(DOLLARS IN THOUSANDS)	2018		2017
Raw materials	$	568,916	$	326,140
Work in process	48,819		16,431
Finished goods	460,802		306,877
Total	$	1,078,537	$	649,448

Reconciliation of Shares Used in Computations of Basic and Diluted Net Income Per Share



(DOLLARS IN THOUSANDS)	2018			2017		2016
Net Income
Net income attributable to IFF stockholders	$	337,302		$	295,665	$	405,031
Less: Increase in redemption value of redeemable noncontrolling interests in excess of earnings allocated	(2,848		)	—		—
Net income available to IFF stockholders	$	334,454		$	295,665	$	405,031
Shares
Weighted average common shares outstanding (basic)⁽¹⁾	87,551			79,070		79,648
Adjustment for assumed dilution⁽²⁾:
Stock options and restricted stock awards	303			300		333
SPC portion of the TEUs	267			—		—
Weighted average shares assuming dilution (diluted)	88,121			79,370		79,981
Net Income per Share
Net income per share - basic	$	3.81		$	3.73	$	5.07
Net income per share - dilutive	3.79			3.72		5.05

_______________________


(1)	For the twelve months ended December 31, 2018, the TEUs were assumed to be outstanding at the minimum settlement amount for weighted-average shares for basic earnings per share. See below for details.


(2)	Effect of dilutive securities includes dilution under stock plans and incremental impact of TEUs. See below for details.

Disaggregation of Revenue

The following table presents the Company's revenues disaggregated by product categories:



	December 31,
(DOLLARS IN THOUSANDS)	2018		2017^(a)		2016(a)
Flavor Compounds	$	1,990,985	$	1,632,166	$	1,496,525
Fragrance Compounds	1,496,493		1,424,612		1,303,653
Ingredients	490,061		341,941		316,172
Total revenues	$	3,977,539	$	3,398,719	$	3,116,350

_______________________


(a)	Prior period amounts have not been adjusted based on the modified retrospective method.

The following table presents our revenues disaggregated by region, based on the region of our customers:



	December 31,
(DOLLARS IN THOUSANDS)	2018		2017^(a)		2016^(a)
Europe, Africa and Middle East	$	1,396,315	$	1,065,596	$	964,931
Greater Asia	991,015		903,546		880,040
North America	1,010,126		901,821		769,081
Latin America	580,083		527,756		502,298
Total revenues	$	3,977,539	$	3,398,719	$	3,116,350

_______________________


(a)	Prior period amounts have not been adjusted based on the modified retrospective method.

Contract Assets and Accounts Receivable

The following table reflects the balances in our contract assets and accounts receivable for the twelve months ended December 31, 2018 and 2017:

Restructuring and Other Charges (Tables)

12 Months Ended

Dec. 31, 2018

Restructuring and Related Activities [Abstract]

Movements in Restructuring and Related Accruals

Movements in severance-related accruals during 2016, 2017 and 2018 are as follows:



(DOLLARS IN THOUSANDS)	Employee-Related Costs			Other			Total
Balance at January 1, 2016	$	7,882		$	—		$	7,882
Additional charges (reversals), net	(1,700		)	658			(1,042		)
Non-cash charges	—			(658		)	(658		)
Payments	(2,905		)	—			(2,905		)
Balance at December 31, 2016	3,277			—			3,277
Additional charges (reversals), net	18,309			1,402			19,711
Non-cash charges	—			(528		)	(528		)
Payments	(14,047		)	(456		)	(14,503		)
Balance at December 31, 2017	7,539			418			7,957
Additional charges (reversals), net	3,884			1,195			5,079
Non-cash charges	—			(418		)	(418		)
Payments	(7,298		)	(120		)	(7,418		)
Balance at December 31, 2018	$	4,125		$	1,075		$	5,200

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2018

Business Combinations [Abstract]

Schedule of purchase price, business acquisition

The following table summarizes the aggregate purchase price consideration paid to acquire Frutarom (in thousands, except share and per share data):



Frutarom’s shares outstanding as of the Closing	59,576,323
Cash consideration per share	71.19
Total cash paid to shareholders of Frutarom	$	4,241,238

Cash paid to vested stock option holders	19,229
Cash in escrow for unvested stock option holders	7,048
Cash paid for closing dividend	21,065
Cash in lieu of fractional shares	15
Cash portion of the purchase consideration	$	4,288,595

Frutarom’s shares outstanding as of the Closing	59,576,323
Exchange ratio	0.249
Total common shares of IFF issued	14,834,504
IFF’s share price as of the Closing	137.39
Total equity consideration paid to shareholders of Frutarom	2,038,113
Equity consideration paid to vested stock Frutarom option holders (representing 67,046 shares)	9,211
Equity portion of purchase consideration	$	2,047,324

Repayment of existing credit facilities of Frutarom	694,975

Total purchase consideration	$	7,030,894

Schedule of assets acquired and liabilities assumed

The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed (in thousands).



Cash and cash equivalents	$	140,747
Other current assets	699,627
Identifiable intangible assets	2,690,000
Other assets	353,710
Equity method investments	25,791
Current liabilities	(311,325		)
Debt assumed	(77,037		)
Other liabilities	(632,488		)
Redeemable noncontrolling interest	(97,510		)
Noncontrolling interest	(3,700		)
Excess attributable to Goodwill	4,243,079
Total Purchase Consideration	$	7,030,894

Schedule of intangible assets acquired

The preliminary amounts of the components of intangible assets have been recorded as follows:



(IN THOUSANDS)	Estimated Amounts		Weighted-Average Useful Life
Intangible assets with finite lives:
Product formula	$	290,000	10 to 12 years
Customer relationships	2,260,000		18 to 23 years
Trade names	140,000		23 to 26 years
Total	$	2,690,000

Unaudited pro forma information

The unaudited pro forma results for the years ended December 31, 2018 and December 31, 2017 is as follows:



	Year Ended December 31,
(IN THOUSANDS)	2018		2017
Unaudited pro forma net sales	$	5,135,906	$	4,761,115
Unaudited pro forma net income attributable to the Company	474,498		240,784

Property, Plant and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment, Net [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment consisted of the following amounts:



(DOLLARS IN THOUSANDS)	December 31,
(DOLLARS IN THOUSANDS)	2018			2017
Asset Type
Land	$	75,528		$	39,006
Buildings and improvements	760,783			560,939
Machinery and equipment	1,342,881			1,162,164
Information technology	179,876			186,891
Construction in process	133,870			141,755
Total Property, Plant and Equipment	2,492,938			2,090,755
Accumulated depreciation	(1,251,786		)	(1,210,175		)
Total Property, Plant and Equipment, Net	$	1,241,152		$	880,580

Goodwill and Other Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill by Operating Segment

Goodwill

Movements in goodwill during the years ended December 31, 2016, 2017 and 2018 were as follows:



(DOLLARS IN THOUSANDS)	Goodwill
Balance at January 1, 2016	$	941,389
Acquisitions	67,480
Foreign exchange	(8,746		)
Balance at December 31, 2016	1,000,123
Acquisitions	87,865
Foreign exchange	32,920
Other^(a)	35,380
Balance at December 31, 2017	1,156,288
Acquisitions^(b)	4,253,541
Disposals	(19,069		)
Foreign exchange	(12,372		)
Balance at December 31, 2018	$	5,378,388

_______________________


(a)	Other above principally represents the increase to Goodwill associated with the update of certain customer relationship assumptions in the final purchase price allocation of David Michael, as disclosed in Note 3.


(b)	In 2018, $4.2 billion primarily relates to our acquisition of Frutarom and is subject to change upon completion of the purchase price allocation.

Goodwill by segment was as follows:



	December 31,
(DOLLARS IN THOUSANDS)	2018		2017
Taste	$	525,060	$	525,038
Scent	618,878		631,250
Frutarom	4,224,010		—
Unallocated	10,440		—
Total	$	5,378,388	$	1,156,288

Schedule of Other Intangible Assets

Other intangible assets, net consisted of the following amounts:



	December 31,
(DOLLARS IN THOUSANDS)	2018			2017
Asset Type
Customer relationships	$	2,658,659		$	407,636
Technological know-how	451,016			161,856
Trade names & patents	177,770			38,771
Other	43,766			24,814
Total carrying value	3,331,211			633,077
Accumulated Amortization
Customer relationships	(156,906		)	(104,800		)
Technological know-how	(93,051		)	(76,766		)
Trade names & patents	(19,593		)	(15,241		)
Other	(22,339		)	(20,483		)
Total accumulated amortization	(291,889		)	(217,290		)
Other intangible assets, net	$	3,039,322		$	415,787

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Amortization expense for the next five years and thereafter, based on preliminary valuations and determinations of useful lives, is expected to be as follows:



	December 31,
(DOLLARS IN THOUSANDS)	2019		2020		2021		2022		2023
Estimated future intangible amortization expense	$	191,175	$	187,034	$	182,203	$	178,250	$	178,137

Other Assets (Tables)

12 Months Ended

Dec. 31, 2018

Other Assets [Abstract]

Schedule of Other Assets

Other assets consisted of the following amounts:



	December 31,
(DOLLARS IN THOUSANDS)	2018		2017
Deferred income taxes	$	89,000	$	99,777
Overfunded pension plans	$	75,158	$	70,792
Cash surrender value of life insurance contracts	43,179		45,216
Equity method investments	31,470		—
Other^(a)	49,866		33,942
Total	$	288,673	$	249,727

_______________________


(a)	Includes land usage rights in China and long term deposits.

Other Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Other Liabilities, Current [Abstract]

Schedule of Other Current Liabilities

Other current liabilities consisted of the following amounts:



	December 31,
(DOLLARS IN THOUSANDS)	2018		2017
Accrued payrolls and bonuses	$	121,080	$	88,361
Rebates and incentives payable	44,175		37,218
Value-added tax payable	23,253		17,856
Interest payable	36,823		15,863
Current pension and other postretirement benefit obligation	11,528		12,866
Accrued insurance (including workers’ compensation)	9,447		10,771
Earn outs payable	29,974		—
Restructuring and other charges	5,200		7,957
Accrued income taxes	24,356		22,190
Other	224,672		156,112
Total	$	530,508	$	369,194

Debt (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Components of Debt

Debt consisted of the following at December 31:



(DOLLARS IN THOUSANDS)	Effective Interest Rate			2018			2017
Senior notes - 2007⁽¹⁾	6.40% - 6.82%			$	—		$	249,765
2020 Notes⁽¹⁾	3.69	%		298,499			—
2021 Euro Notes⁽¹⁾	0.82	%		337,704			—
2023 Notes⁽¹⁾	3.30	%		298,698			298,670
2024 Euro Notes⁽¹⁾	1.88	%		564,034			589,848
2026 Euro Notes⁽¹⁾	1.93	%		899,886			—
2028 Notes⁽¹⁾	4.57	%		396,377			—
2047 Notes⁽¹⁾	4.44	%		493,151			492,819
2048 Notes⁽¹⁾	5.12	%		785,788			—
Term Loan⁽¹⁾	3.65	%		349,163			—
Amortizing Notes⁽¹⁾	5.81	%		125,007			—
Amended Credit Facility	LIBOR + 1.125%		(2)	—			—
Bank overdrafts and other				4,695			7,993
Deferred realized gains on interest rate swaps				57			57
				$	4,553,059		$	1,639,152
Less: Short term borrowings⁽³⁾				(48,642		)	(6,966		)
				$	4,504,417		$	1,632,186

_______________________


(1)	Amount is net of unamortized discount and debt issuance costs.


(2)	Represents the rate on drawn down and outstanding balances. Deferred debt issuance costs are immaterial.


(3)	Includes bank borrowings, commercial paper, overdrafts and current portion of long-term debt.

Debt Instrument Redemption

However, no make-whole premium will be paid for redemptions of each note on or after the following date:



Note		Redemption Date
2020 Notes		September 25, 2020
2021 Euro Notes		August 25, 2021
2023 Notes		February 1, 2023
2024 Euro Notes		December 14, 2023
2026 Euro Notes		June 25, 2026
2028 Notes		June 26, 2028
2047 Notes		December 1, 2046
2048 Notes		March 26, 2048

Schedule of Maturities of Long-term Debt

The following table shows the contractual maturities of our long-term debt as of December 31, 2018.



	Payments Due by Period
(DOLLARS IN THOUSANDS)	Total		Less than 1 Year		1-3 Years		3-5 Years		After 5 Years
2020 Notes	300,000		—		300,000		—		—
2021 Euro Notes	340,590		—		340,590		—		—
2023 Notes	300,000		—		—		300,000		—
2024 Euro Notes	567,650		—		—		—		567,650
2026 Euro Notes	908,240		—		—		—		908,240
2028 Notes	400,000		—		—		—		400,000
2047 Notes	500,000		—		—		—		500,000
2048 Notes	800,000		—		—		—		800,000
Term Loan	350,000		—		350,000		—		—
Amortizing Notes	$	128,694	$	45,261	$	83,433	$	—	$	—
Total	$	4,595,174	$	45,261	$	1,074,023	$	300,000	$	3,175,890

Tangible Equity Units (Tables)

12 Months Ended

Dec. 31, 2018

Equity [Abstract]

Schedule of Allocation of Tangible Equity Units

The proceeds from the issuance of the TEUs were allocated to equity and debt based on the relative fair value of the respective components of each TEU as follows:



(IN MILLIONS, EXCEPT FAIR VALUE PER TEU)	SPC		Amortizing Note		Total
Fair Value per TEU	$	41.5	$	8.5	$	50.0

Gross Proceeds	$	685.5	$	139.5	$	825.0
Less: Issuance costs	20.4		4.4		24.8
Net Proceeds	$	665.1	$	135.1	$	800.2

Schedule of Stock Purchase Contract



VWAP of IFF Common Stock		Common Stock Issued
Equal to or greater than $159.54		0.3134 shares (minimum settlement rate)
Less than $159.54, but greater than $130.25		$50 divided by VWAP
Less than or equal to $130.25		0.3839 shares (maximum settlement rate)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Earnings before Income Taxes

Earnings before income taxes consisted of the following:



	December 31,
(DOLLARS IN THOUSANDS)	2018			2017			2016
U.S. (loss) income before taxes	$	(99,125	)	$	(24	)	$	9,078
Foreign income before taxes	546,882			537,069			514,639
Total income before taxes	$	447,757		$	537,045		$	523,717

Schedule of Income Tax Provision

The income tax provision consisted of the following:



	December 31,
(DOLLARS IN THOUSANDS)	2018			2017			2016
Current tax provision
Federal	$	(11,568	)	$	68,886		$	(2,920	)
State and local	1,709			137			1,383
Foreign	98,433			113,468			105,873
	88,574			182,491			104,336
Deferred tax provision
Federal	(8,287		)	74,446			8,838
State and local	(7,092		)	(11,537		)	(631		)
Foreign	34,781			(4,020		)	6,143
	19,402			58,889			14,350
Total income taxes	$	107,976		$	241,380		$	118,686

Schedule of Reconciliation between U.S. Federal Statutory Income Tax Rate to Actual Effective Tax Rate

Reconciliation between the U.S. federal statutory income tax rate to the actual effective tax rate was as follows:



	December 31,
	2018		2017		2016
Statutory tax rate	21.0	%	35.0	%	35.0	%
Difference in effective tax rate on foreign earnings and remittances	(6.1	)	(12.6	)	(12.6	)
Tax benefit from supply chain optimization	(3.0	)	(2.3	)	(0.7	)
Unrecognized tax benefit, net of reversals	2.9		2.3		0.6
U.S. tax reform	(1.8	)	26.5		—
Deferred taxes on deemed repatriation	10.1		0.3		1.1
Global intangible low-taxed income (GILTI)	1.8		—		—
Acquisition costs	1.3		—		—
Release of valuation allowance on state deferred	(1.5	)	(1.7	)	—
State and local taxes	0.6		0.1		0.1
Other, net	(1.2	)	(2.7	)	(0.8	)
Effective tax rate	24.1	%	44.9	%	22.7	%

Schedule of Deferred Tax Assets and Liabilities

The deferred tax assets consisted of the following amounts:



	December 31,
(DOLLARS IN THOUSANDS)	2018			2017
Employee and retiree benefits	$	80,382		$	87,400
Credit and net operating loss carryforwards^(a)	225,152			218,933
Intangible assets	12,489			13,622
Gain on foreign currency translation	—			10,885
Interest limitation	19,380			1,120
Inventory	13,308			4,428
Other, net	18,009			7,103
Gross deferred tax assets	368,720			343,491

Property, plant and equipment, net	(22,511		)	(11,745		)
Intangible assets	(616,333		)	(73,979		)
Loss on foreign currency translation	(7,717		)	—
Deferred taxes on deemed repatriation	(88,759		)	(1,610		)
Gross deferred tax liabilities	(735,320		)	(87,334		)
Valuation allowance^(a)	(200,280		)	(207,483		)
Total net deferred tax (liabilities)/assets	$	(566,880	)	$	48,674

_______________________

(a)

Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:



	December 31,
(DOLLARS IN THOUSANDS)	2018			2017			2016
Balance of unrecognized tax benefits at beginning of year	$	38,162		$	26,428		$	24,198
Gross amount of increases in unrecognized tax benefits as a result of positions taken during a prior year	9,751			1,169			1,254
Gross amount of decreases in unrecognized tax benefits as a result of positions taken during a prior year	(5,362		)	(268		)	(3		)
Gross amount of increases in unrecognized tax benefits as a result of positions taken during the current year	14,677			13,191			8,131
The amounts of decreases in unrecognized benefits relating to settlements with taxing authorities	(4,550		)	—			(6,075		)
Reduction in unrecognized tax benefits due to the lapse of applicable statute of limitation	(1,725		)	(2,358		)	(1,077		)
Balance of unrecognized tax benefits at end of year	$	50,953		$	38,162		$	26,428

Net Income Per Share (Tables)

12 Months Ended

Dec. 31, 2018

Earnings Per Share [Abstract]

Reconciliation of Shares Used in Computations of Basic and Diluted Net Income Per Share



(DOLLARS IN THOUSANDS)	2018			2017		2016
Net Income
Net income attributable to IFF stockholders	$	337,302		$	295,665	$	405,031
Less: Increase in redemption value of redeemable noncontrolling interests in excess of earnings allocated	(2,848		)	—		—
Net income available to IFF stockholders	$	334,454		$	295,665	$	405,031
Shares
Weighted average common shares outstanding (basic)⁽¹⁾	87,551			79,070		79,648
Adjustment for assumed dilution⁽²⁾:
Stock options and restricted stock awards	303			300		333
SPC portion of the TEUs	267			—		—
Weighted average shares assuming dilution (diluted)	88,121			79,370		79,981
Net Income per Share
Net income per share - basic	$	3.81		$	3.73	$	5.07
Net income per share - dilutive	3.79			3.72		5.05

_______________________


(1)	For the twelve months ended December 31, 2018, the TEUs were assumed to be outstanding at the minimum settlement amount for weighted-average shares for basic earnings per share. See below for details.


(2)	Effect of dilutive securities includes dilution under stock plans and incremental impact of TEUs. See below for details.

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2018

Equity [Abstract]

Schedule of Stock Repurchase Activity

A summary of the stock repurchase activity under the stock repurchase program, reported based on the trade date, is summarized as follows:



(DOLLARS IN THOUSANDS)	Shares Repurchased	Weighted- Average Price per Share		Dollar Amount Repurchased
Year Ended December 31, 2018	108,109	$	143.15	15,475
Year Ended December 31, 2017	459,264	126.44		58,069
Year Ended December 31, 2016	1,058,018	124.01		127,443

Stock Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2018

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-Based Compensation Expense Included in Consolidated Statement of Income and Comprehensive Income

Total stock-based compensation expense included in the Consolidated Statement of Income and Comprehensive Income was as follows:



	December 31,
(DOLLARS IN THOUSANDS)	2018			2017			2016
Equity-based awards	$	29,401		$	26,567		$	24,587
Liability-based awards	2,517			6,014			3,884
Total stock-based compensation	31,918			32,581			28,471
Less tax benefit	(6,556		)	(5,659		)	(7,375		)
Total stock-based compensation, net of tax	$	25,362		$	26,922		$	21,096

SSAR's and Stock Option Activity

SSARs and options activity was as follows:



(SHARE AMOUNTS IN THOUSANDS)	Shares Subject to SSARs/Options		Weighted Average Exercise Price		SSARs/ Options Exercisable
December 31, 2017	4		$	64.25	4
Granted	9		$	140.10
Exercised	(1	)	60.39
Canceled	—		—
Balance at December 31, 2018	12		$	117.21	4

SSAR's and Stock Option Outstanding

SSARs and options outstanding at December 31, 2018 was as follows:



Price Range	Number Outstanding (in thousands)	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Aggregate Intrinsic Value (in thousands)
$51 – $60	3	0.34	$	60.39
Over $65	9	6.25	139.36
Total	12		$	117.21	$	177

SSAR's and Stock Option Exercisable

SSARs and options exercisable as of December 31, 2018 was as follows:



Price Range	Number Exercisable (in thousands)	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Aggregate Intrinsic Value (in thousands)
$51 – $60	3	0.34	$	60.39
Over $65	1	3.36	118.10
	4		$	64.96	$	242

RSU's [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

RSU, PRS and Cash RSU Activity

RSU activity was as follows:



	Number of Shares (in thousands)		Weighted Average Grant Date Fair Value Per Share
December 31, 2017	441		$	119.45
Granted	169		132.70
Vested	(145	)	113.89
Forfeited	(17	)	125.30
Balance at December 31, 2018	448		$	125.99

Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

RSU, PRS and Cash RSU Activity

The following table summarizes the Company's activity for the years ended December 31, 2018, 2017 and 2016:



(DOLLARS IN MILLIONS)	Issued Shares	Aggregate Purchase Price		Covered Shares
	PRSU	PRSU
2018	66,674	$	9.3	33,337
2017	41,801	5.8		20,901
2016	58,629	7.0		29,315

PRSU activity was as follows:



(SHARE AMOUNTS IN THOUSANDS)	Number of Shares		Weighted Average Grant Date Fair Value Per Share
December 31, 2017	159		$	124.15
Granted	67		140.10
Vested	(61	)	118.05
Forfeited	(3	)	129.77
Balance at December 31, 2018	162		$	132.96

Cash RSU's [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

RSU, PRS and Cash RSU Activity

Cash RSU activity was as follows:



(SHARE AMOUNTS IN THOUSANDS)	Cash RSUs		Weighted Average Fair Value Per Share
December 31, 2017	95		$	152.61
Granted	31		132.23
Vested	(30	)	125.38
Forfeited	(4	)	137.83
Balance at December 31, 2018	92		$	132.23

Segment Information (Tables)

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Reportable Segment Information



	Capital Expenditures						Depreciation and Amortization
(DOLLARS IN THOUSANDS)	2018		2017		2016		2018		2017		2016
Taste	$	70,028	$	68,937	$	47,064	$	72,474	$	53,534	$	47,705
Scent	82,206		53,089		73,345		85,078		59,951		50,724
Frutarom	12,878		—		—		8,738		—		—
Unallocated assets	4,982		6,947		6,003		7,502		4,482		4,040
Consolidated	$	170,094	$	128,973	$	126,412	$	173,792	$	117,967	$	102,469

eportable segment information is as follows:



	December 31,
(DOLLARS IN THOUSANDS)	2018		2017		2016
Net sales
Taste	$	1,737,349	$	1,632,166	$	1,496,525
Scent	1,880,630		1,766,553		1,619,825
Frutarom	$	359,560	$	—	$	—
Consolidated	$	3,977,539	$	3,398,719	$	3,116,350



	December 31,
(DOLLARS IN THOUSANDS)	2018		2017
Segment assets
Taste	$	2,024,573	$	1,929,005
Scent	2,340,131		2,284,309
Frutarom	7,961,538		—
Global assets	563,153		385,612
Consolidated	$	12,889,395	$	4,598,926



	December 31,
(DOLLARS IN THOUSANDS)	2018			2017			2016
Segment profit:
Taste	$	395,190		$	360,483		$	330,221
Scent	329,548			318,954			326,705
Frutarom	27,358			—			—
Global expenses	(74,730		)	(60,810		)	(48,352		)
Operational Improvement Initiatives (a)	(2,169		)	(1,802		)	(2,402		)
Acquisition Related Costs (b)	1,289			(20,389		)	(12,195		)
Integration Related Costs (c)	(7,188		)	(4,179		)	—
Legal Charges/Credits, net (d)	—			(1,000		)	(48,518		)
Tax Assessment (e)	—			(5,331		)	—
Restructuring and Other Charges, net (f)	(4,086		)	(19,711		)	(322		)
Gain on Sale of Assets	1,177			184			7,818
FDA Mandated Product Recall (g)	7,125			(11,000		)	—
UK Pension Settlement Charges (h)	—			(2,769		)	—
Frutarom Acquisition Related Costs (i)	(89,632		)	—			—
Operating Profit	583,882			552,630			552,955
Interest expense	(132,558		)	(65,363		)	(52,989		)
Loss on extinguishment of debt	(38,810		)	—			—
Other income (expense), net	35,243			49,778			23,751
Income before taxes	$	447,757		$	537,045		$	523,717
Profit margin
Taste	22.7		%	22.1		%	22.1		%
Scent	17.5		%	18.1		%	20.2		%
Frutarom	7.6		%	—		%	—		%
Consolidated	14.7		%	16.3		%	17.7		%



(a)	For 2018, represents accelerated depreciation related to a plant relocation in India and Taiwan asset write off. For 2017, represents accelerated depreciation and idle labor costs in Hangzhou, China.



(b)	For 2018, represents adjustments to the contingent consideration payable for PowderPure, and transaction costs related to Fragrance Resources and PowderPure within Selling and administrative expenses. For 2017, represents the amortization of inventory "step-up" included in Cost of goods sold and transaction costs related to the acquisitions of Fragrance Resources and PowderPure within Selling and administrative expenses.
(c)	For 2018, represents costs related to the integration of the Frutarom acquisition. For 2017, represents costs related to the integration of the David Michael and Fragrance Resources acquisitions.
(d)	Represents additional charge related to litigation settlement.
(e)	Represents the reserve for payment of a tax assessment related to commercial rent for prior periods.
(f)	For 2018, represents severance costs related to the 2017 Productivity Program and costs associated with the termination of agent relationships in a subsidiary. For 2017, represents severance costs related to the 2017 Productivity Program.
(g)	For 2018, principally represents recoveries from the supplier for the third and fourth quarter, partially offset by final payments to the customer made for the effected product in the first quarter. For 2017, represents management's best estimate of losses related to the previously disclosed FDA mandated recall.
(h)	Represents pension settlement charges incurred in one of the Company's UK pension plans.
(i)	Represents transaction-related costs and expenses related to the acquisition of Frutarom. Amount primarily includes $23.5 million of amortization for inventory "step-up" costs, $39.4 million of bridge loan commitment fees included in Interest expense; $34.9 million make whole payment on the Senior Notes - 2007 and $3.9 million realized loss on a fair value hedge included in Loss on extinguishment of debt; $12.5 million realized gain on a foreign currency derivative included in Other income; and $66.0 million of transaction costs included in Selling and administrative expenses.

Net Sales by Geographic Area



	Net Sales by Geographic Area
(DOLLARS IN THOUSANDS)	2018		2017		2016
Europe, Africa and Middle East	$	1,396,316	$	1,065,596	$	964,931
Greater Asia	991,015		903,546		880,040
North America	1,010,126		901,821		769,081
Latin America	580,082		527,756		502,298
Consolidated	$	3,977,539	$	3,398,719	$	3,116,350

Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2018

Retirement Benefits [Abstract]

Plan Assets and Benefit Obligations of Defined Benefit Pension Plans

The plan assets and benefit obligations of the defined benefit pension plans are measured at December 31 of each year.



	U.S. Plans									Non-U.S. Plans
(DOLLARS IN THOUSANDS)	2018			2017			2016			2018			2017			2016
Components of net periodic benefit cost
Service cost for benefits earned	$	1,971		$	2,175		$	2,497		$	18,738		$	18,652		$	15,210
Interest cost on projected benefit obligation	19,393			20,075			24,096			17,704			17,116			24,413
Expected return on plan assets	(30,994		)	(35,577		)	(33,988		)	(50,546		)	(50,626		)	(45,865		)
Net amortization of deferrals	6,592			5,424			5,821			11,798			14,403			12,802
Settlements and curtailments	—			—			—			—			2,746			—
Net periodic benefit cost	(3,038		)	(7,903		)	(1,574		)	(2,306		)	2,291			6,560
Defined contribution and other retirement plans	10,527			8,604			8,404			6,859			5,681			6,304
Total expense	$	7,489		$	701		$	6,830		$	4,553		$	7,972		$	12,864
Changes in plan assets and benefit obligations recognized in OCI
Net actuarial (gain) loss	$	21,050		$	(12,145	)				$	11,937		$	(20,557	)
Recognized actuarial loss	(6,549		)	(5,383		)				(12,590		)	(17,895		)
Prior service cost	—			93						2,776			—
Recognized prior service (cost) credit	(43		)	(41		)				792			747
Currency translation adjustment	—			—						(16,978		)	36,722
Total recognized in OCI (before tax effects)	$	14,458		$	(17,476	)				$	(14,063	)	$	(983	)

Components of Net Periodic Benefit Cost and Changes in Plan Assets and Benefit Obligations Recognized in OCI



	Postretirement Benefits
(DOLLARS IN THOUSANDS)	2018			2017			2016
Components of net periodic benefit cost
Service cost for benefits earned	$	755		$	718		$	852
Interest cost on projected benefit obligation	2,460			2,710			3,326
Net amortization and deferrals	(5,497		)	(4,913		)	(5,088		)
(Credit) Expense	$	(2,282	)	$	(1,485	)	$	(910	)
Changes in plan assets and benefit obligations recognized in OCI
Net actuarial loss	$	(6,677	)	$	2,895
Recognized actuarial loss	(1,506		)	(1,421		)
Prior service credit	(14,862		)	—
Recognized prior service credit	7,003			6,334
Total recognized in OCI (before tax effects)	$	(16,042	)	$	7,808

Amounts Expected to be Recognized in Net Periodic Cost

The amounts expected to be recognized in net periodic cost in 2019 are:



(DOLLARS IN THOUSANDS)	U.S. Plans		Non-U.S. Plans			Postretirement Benefits
Actuarial loss recognition	$	5,060	$	12,336		$	1,274
Prior service cost (credit) recognition	43		(647		)	(6,051		)

Weighted-Average Actuarial Assumption Used to Determine Expense



	U.S. Plans						Non-U.S. Plans
	2018		2017		2016		2018		2017		2016
Discount rate	3.69	%	4.19	%	4.20	%	2.15	%	2.14	%	3.03	%
Expected return on plan assets	6.20	%	7.30	%	7.30	%	5.19	%	5.95	%	6.40	%
Rate of compensation increase	3.25	%	3.25	%	3.25	%	1.98	%	1.97	%	1.98	%

Changes in Postretirement Benefit Obligation and Plan Assets

Changes in the postretirement benefit obligation and plan assets, as applicable, are detailed in the following table:



	U.S. Plans						Non-U.S. Plans						Postretirement Benefits
(DOLLARS IN THOUSANDS)	2018			2017			2018			2017			2018			2017
Benefit obligation at beginning of year	$	602,783		$	577,332		$	973,061		$	895,566		$	82,714		$	79,845
Service cost for benefits earned	1,971			2,175			18,738			18,652			755			718
Interest cost on projected benefit obligation	19,393			20,075			17,704			17,116			2,460			2,710
Actuarial (gain) loss	(33,284		)	33,808			(29,433		)	(28,552		)	(6,677		)	2,895
Plan amendments	—			93			2,776			—			(14,862		)	—
Adjustments for expense/tax contained in service cost	—			—			(1,290		)	(1,287		)	—			—
Plan participants’ contributions	—			—			2,047			1,700			435			457
Benefits paid	(32,093		)	(30,700		)	(33,862		)	(28,943		)	(5,200		)	(3,911		)
Curtailments / settlements	—			—			(2,751		)	(6,787		)	—			—
Translation adjustments	—			—			(49,027		)	105,596			—			—
Acquisitions/Transferred Liabilities	3,273			—			48,356			—			—			—
Other	—			—			11,616			—			—			—
Benefit obligation at end of year	$	562,043		$	602,783		$	957,935		$	973,061		$	59,625		$	82,714

Fair value of plan assets at beginning of year	$	581,917		$	525,964		$	929,810		$	792,138
Actual return on plan assets	(23,339		)	81,530			6,699			39,423
Employer contributions	3,524			5,123			18,238			36,645
Participants’ contributions	—			—			2,047			1,700
Benefits paid	(32,093		)	(30,700		)	(33,862		)	(28,943		)
Settlements	—			—			(1,564		)	(6,787		)
Translation adjustments	—			—			(47,247		)	95,634
Acquisitions/Transferred Assets	2,372			—			21,672			—
Other	—			—			989			—
Fair value of plan assets at end of year	$	532,381		$	581,917		$	896,782		$	929,810
Funded status at end of year	$	(29,662	)	$	(20,866	)	$	(61,153	)	$	(43,251	)

Amounts Recognized in Balance Sheet



	U.S. Plans						Non-U.S. Plans
(DOLLARS IN THOUSANDS)	2018			2017			2018			2017
Other assets	$	20,949		$	33,164		$	54,434		$	38,095
Other current liabilities	(4,092		)	(4,049		)	(882		)	(652		)
Retirement liabilities	(46,519		)	(49,981		)	(114,705		)	(80,694		)
Net amount recognized	$	(29,662	)	$	(20,866	)	$	(61,153	)	$	(43,251	)

Amounts Recognized in Accumulated Other Comprehensive Income



	U.S. Plans				Non-U.S. Plans						Postretirement Benefits
(DOLLARS IN THOUSANDS)	2018		2017		2018			2017			2018			2017
Net actuarial loss	$	151,389	$	136,888	$	321,144		$	338,916		$	12,627		$	20,810
Prior service cost (credit)	151		194		(3,926		)	(7,635		)	(33,189		)	(25,330		)
Total AOCI (before tax effects)	$	151,540	$	137,082	$	317,218		$	331,281		$	(20,562	)	$	(4,520	)

Accumulated Benefit Obligation



	U.S. Plans						Non-U.S. Plans
(DOLLARS IN THOUSANDS)	2018			2017			2018			2017
Accumulated Benefit Obligation — end of year	$	562,043		$	600,634		$	957,935		$	941,158
Information for Pension Plans with an ABO in excess of Plan Assets:
Projected benefit obligation	$	52,714		$	54,030		$	582,466		$	542,843
Accumulated benefit obligation	52,690			54,030			548,116			510,939
Fair value of plan assets	2,103			—			466,878			461,496
Weighted-average assumptions used to determine obligations at December 31
Discount rate	4.31		%	3.68		%	2.22		%	2.15		%
Rate of compensation increase	3.25		%	3.25		%	1.91		%	1.98		%

Estimated Future Benefit Payments



(DOLLARS IN THOUSANDS)	U.S. Plans		Non-U.S. Plans		Postretirement Benefits
Estimated Future Benefit Payments
2019	$	35,742	$	26,342	$	3,881
2020	36,918		25,991		3,940
2021	37,710		27,270		4,014
2022	38,823		27,589		4,081
2023	38,449		28,843		4,085
2024 - 2028	190,164		165,681		20,449
Contributions
Required Company Contributions in Following Year (2019)	$	4,207	$	19,258	$	3,882

Percentage of Assets Invested



	U.S. Plans				Non-U.S. Plans
	2018		2017		2018		2017
Cash and cash equivalents	1	%	1	%	3	%	4	%
Equities	25	%	28	%	12	%	27	%
Fixed income	74	%	71	%	36	%	40	%
Property	—	%	—	%	8	%	4	%
Alternative and other investments	—	%	—	%	41	%	25	%

Fair Value Hierarchy of Plan Assets



	U.S. Plans for the Year Ended
	December 31, 2018
(DOLLARS IN THOUSANDS)	Level 1		Level 2		Level 3		Total
Cash Equivalents	$	—	$	3,490	$	—	$	3,490
Fixed Income Securities
Government & Government Agency Bonds	—		17,827		—		17,827
Corporate Bonds	—		96,566		—		96,566
Municipal Bonds	—		8,138		—		8,138
Assets measured at net asset value⁽¹⁾	—		—		—		404,895
Total	$	—	$	126,021	$	—	$	530,916
Receivables							$	1,465
Total							$	532,381



	U.S. Plans for the Year Ended
	December 31, 2017
(DOLLARS IN THOUSANDS)	Level 1		Level 2		Level 3		Total
Cash Equivalents	$	—	$	7,138	$	—	$	7,138
Fixed Income Securities
Government & Government Agency Bonds	—		16,118		—		16,118
Corporate Bonds	—		100,478		—		100,478
Municipal Bonds	—		8,982		—		8,982
Assets measured at net asset value⁽¹⁾	—		—		—		447,847
Total	$	—	$	132,716	$	—	$	580,563
Receivables							$	1,354
Total							$	581,917

_______________________

(1)



	Non-U.S. Plans for the Year Ended
	December 31, 2018
(DOLLARS IN THOUSANDS)	Level 1		Level 2		Level 3		Total
Cash	$	25,386	$	—	$	—	$	25,386
Equity Securities
U.S. Large Cap	35,929		11,340		—		47,269
U.S. Mid Cap	—		—		—		—
U.S. Small Cap	—		—		—		—
Non-U.S. Large Cap	30,841		8,381		—		39,222
Non-U.S. Mid Cap	905		—		—		905
Non-U.S. Small Cap	628		—		—		628
Emerging Markets	22,608		—		—		22,608
Fixed Income Securities
U.S. Treasuries/Government Bonds	131		—		—		131
U.S. Corporate Bonds	—		29,682		—		29,682
Non-U.S. Treasuries/Government Bonds	137,267		5,494		—		142,761
Non-U.S. Corporate Bonds	30,893		85,841		—		116,734
Non-U.S. Asset-Backed Securities	—		32,587		—		32,587
Non-U.S. Other Fixed Income	2,324		—		—		2,324
Alternative Types of Investments
Insurance Contracts	—		152,947		254		153,201
Other	—		123,786		25,913		149,699
Absolute Return Funds	3,584		61,211		—		64,795
Real Estate
Non-U.S. Real Estate	—		—		68,850		68,850
Total	$	290,496	$	511,269	$	95,017	$	896,782



	Non-U.S. Plans for the Year Ended
	December 31, 2017
(DOLLARS IN THOUSANDS)	Level 1		Level 2		Level 3		Total
Cash	$	33,146	$	—	$	—	$	33,146
Equity Securities
U.S. Large Cap	86,921		19,710		—		106,631
U.S. Mid Cap	623		—		—		623
U.S. Small Cap	474		—		—		474
Non-U.S. Large Cap	84,898		17,117		—		102,015
Non-U.S. Mid Cap	577		—		—		577
Non-U.S. Small Cap	422		—		—		422
Emerging Markets	43,706		1,296		—		45,002
Fixed Income Securities
U.S. Treasuries/Government Bonds	94		—		—		94
U.S. Corporate Bonds	—		39,647		—		39,647
Non-U.S. Treasuries/Government Bonds	129,494		7,492		—		136,986
Non-U.S. Corporate Bonds	26,212		128,121		—		154,333
Non-U.S. Asset-Backed Securities	—		34,350		—		34,350
Non-U.S. Other Fixed Income	2,116		—		—		2,116
Alternative Types of Investments
Insurance Contracts	—		146,998		270		147,268
Hedge Funds	—		—		33,593		33,593
Other	—		29,133		—		29,133
Absolute Return Funds	3,314		21,191		—		24,505
Real Estate
Non-U.S. Real Estate	—		—		38,895		38,895
Total	$	411,997	$	445,055	$	72,758	$	929,810

Reconciliation of Level 3 Non-U.S. Plan Assets Held

The following table presents a reconciliation of Level 3 non-U.S. plan assets held during the year ended December 31, 2018:



	Non-U.S. Plans
(DOLLARS IN THOUSANDS)	Real Estate			Hedge Funds			Total
Ending balance as of December 31, 2017	$	39,165		$	33,593		$	72,758
Actual return on plan assets	(2,155		)	(1,377		)	(3,532		)
Purchases, sales and settlements	32,094			(6,303		)	25,791
Ending balance as of December 31, 2018	$	69,104		$	25,913		$	95,017

Weighted Average Assumptions Used to Determine Postretirement Benefit Expense and Obligation

The following weighted average assumptions were used to determine the postretirement benefit expense and obligation for the years ended December 31:



	Expense				Liability
	2018		2017		2018		2017
Discount rate	3.70	%	4.20	%	4.30	%	3.70	%
Current medical cost trend rate	7.75	%	8.00	%	7.50	%	7.75	%
Ultimate medical cost trend rate	4.75	%	4.75	%	4.75	%	4.75	%
Medical cost trend rate decreases to ultimate rate in year	2030		2030		2030		2030

Sensitivity of Disclosures to Changes in Selected Assumptions

The following table presents the sensitivity of disclosures to changes in selected assumptions for the year ended December 31, 2018:



(DOLLARS IN THOUSANDS)	U.S. Pension Plans		Non-U.S. Pension Plans	Postretirement Benefit Plan
25 Basis Point Decrease in Discount Rate
Change in PBO	14,603		46,475	N/A
Change in ABO	14,524		44,628	1,638
Change in pension expense	(102	)	2,710	44
25 Basis Point Decrease in Long-Term Rate of Return
Change in pension expense	1,248		1,911	N/A

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Carrying Amount and Estimated Fair Value of Financial Instruments

The carrying value and the estimated fair values of financial instruments at December 31 consisted of the following:



	2018				2017
(DOLLARS IN THOUSANDS)	Carrying Value		Fair Value		Carrying Value		Fair Value
LEVEL 1
Cash and cash equivalents⁽¹⁾	$	634,897	$	634,897	$	368,046	$	368,046
LEVEL 2
Credit facilities and bank overdrafts⁽²⁾	4,695		4,695		7,993		7,993
Derivatives⁽³⁾
Derivative assets	—		7,229		—		5,137
Derivative liabilities	—		6,907		—		13,555
Long-term debt:⁽⁴⁾
Senior notes - 2007	—		—		249,765		293,232
2020 Notes	298,499		300,356		—		—
2021 Euro Notes	337,704		341,094		—		—
2023 Notes	298,698		293,017		298,670		304,219
2024 Euro Notes	564,034		584,129		589,848		627,782
2026 Euro Notes	899,886		909,439		—		—
2028 Notes	396,377		401,231		—		—
2047 Notes	493,151		446,725		492,819		525,906
2048 Notes	785,788		783,925		—		—
Term Loan⁽²⁾	349,163		350,000		—
Amortizing Notes⁽⁵⁾	125,007		127,879		—		—

_______________________


(1)	The carrying amount of cash and cash equivalents approximates fair value due to the short maturity of those instruments.


(2)	The carrying amount approximates fair value as the interest rate is reset frequently based on current market rates as well as the short maturity of those instruments.

Derivative Instruments Notional Amount Outstanding

The following table shows the notional amount of the Company’s derivative instruments outstanding as of December 31, 2018 and December 31, 2017:



	December 31,
(DOLLARS IN THOUSANDS)	2018		2017
Foreign currency contracts	$	585,581	$	896,947
Cross currency swaps	1,087		—
Interest rate swaps	—		150,000

Derivative Instruments Measured at Fair Value



	December 31, 2018
(DOLLARS IN THOUSANDS)	Fair Value of Derivatives Designated as Hedging Instruments		Fair Value of Derivatives Not Designated as Hedging Instruments		Total Fair Value
Derivative assets^(a)
Foreign currency contracts	$	4,122	$	2,020	$	6,142
Cross currency swaps	$	1,087	$	—	$	1,087
Total derivative assets	$	5,209	$	2,020	$	7,229
Derivative liabilities^(b)
Foreign currency contracts	205		6,702		6,907



	December 31, 2017
(DOLLARS IN THOUSANDS)	Fair Value of Derivatives Designated as Hedging Instruments		Fair Value of Derivatives Not Designated as Hedging Instruments		Total Fair Value
Derivative assets^(a)
Foreign currency contracts	$	1,159	$	3,978	$	5,137
Derivative liabilities^(b)
Foreign currency contracts	7,842		4,344		12,186
Interest rate swaps	1,369		—		1,369
Total derivative liabilities	$	9,211	$	4,344	$	13,555

_______________________


(a)	Derivative assets are recorded to Prepaid expenses and other current assets in the Consolidated Balance Sheet.


(b)	Derivative liabilities are recorded as Other current liabilities in the Consolidated Balance Sheet.

Derivative Instruments Which Were Not Designated as Hedging Instruments



(DOLLARS IN THOUSANDS)	Amount of Gain (Loss) For the years ended December 31,					Location of Gain (Loss) Recognized in Income on Derivative
(DOLLARS IN THOUSANDS)	2018		2017			Location of Gain (Loss) Recognized in Income on Derivative
Foreign currency contracts	$	1,999	$	(10,057	)	Other (income) expense, net
Deal contingent swaps
Foreign currency contracts	12,154		—			Other income, net
Interest rate swaps	352		—			Interest expense
	$	14,505	$	(10,057	)

Derivative Instruments Designated as Cash Flow and Net Investment Hedging Instruments



	Amount of Gain(Loss) Recognized in OCI on Derivative (Effective Portion)						Location of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)	Amount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)
	For the years ended December 31,							For the years ended December 31,
	2018			2017				2018			2017
Derivatives in Cash Flow Hedging Relationships:
Foreign currency contracts	$	14,220		$	(14,121	)	Cost of goods sold	$	(6,203	)	$	3,943
Interest rate swaps ⁽¹⁾	864			(3,811		)	Interest expense	(864		)	(789		)
Derivatives or debt instruments in Net Investment Hedging Relationships:
Foreign currency contracts	(518		)	(4,239		)	N/A	—			—
2024 Euro Notes	20,539			(47,672		)	N/A	—			—
2021 Euro Notes & 2026 Euro Notes	30,390			—			N/A	—			—
Total	$	65,495		$	(69,843	)		$	(7,067	)	$	3,154

_______________________


(1)	Interest rate swaps were entered into as pre-issuance hedges

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2018

Equity [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Income (Loss)



(DOLLARS IN THOUSANDS)	Foreign Currency Translation Adjustments			(Losses) Gains on Derivatives Qualifying as Hedges			Pension and Postretirement Liability Adjustment			Total
Accumulated other comprehensive loss, net of tax, as of December 31, 2017	$	(297,416	)	$	(10,332	)	$	(329,734	)	$	(637,482	)
OCI before reclassifications	(99,580		)	8,011			9,717			(81,852		)
Amounts reclassified from AOCI	—			7,067			10,040			17,107
Net current period other comprehensive income (loss)	(99,580		)	15,078			19,757			(64,745		)
Accumulated other comprehensive loss, net of tax, as of December 31, 2018	$	(396,996	)	$	4,746		$	(309,977	)	$	(702,227	)



(DOLLARS IN THOUSANDS)	Foreign Currency Translation Adjustments				(Losses) Gains on Derivatives Qualifying as Hedges			Pension and Postretirement Liability Adjustment			Total
Accumulated other comprehensive (loss) income, net of tax, as of December 31, 2016	$	(352,025	)		$	7,604		$	(335,674	)	$	(680,095	)
OCI before reclassifications	66,826				(14,782		)	(7,941		)	44,103
Amounts reclassified from AOCI	(12,217		)	(a)	(3,154		)	13,881			(1,490		)
Net current period other comprehensive income (loss)	54,609				(17,936		)	5,940			42,613
Accumulated other comprehensive loss, net of tax, as of December 31, 2017	$	(297,416	)		$	(10,332	)	$	(329,734	)	$	(637,482	)

(a) Represents a foreign currency exchange gain from the release of a currency translation adjustment upon the liquidation of a foreign entity in 2017.



(DOLLARS IN THOUSANDS)	Foreign Currency Translation Adjustments			(Losses) Gains on Derivatives Qualifying as Hedges			Pension and Postretirement Liability Adjustment			Total
Accumulated other comprehensive (loss) income, net of tax, as of December 31, 2015	$	(297,499	)	$	9,401		$	(325,342	)	$	(613,440	)
OCI before reclassifications	(54,526		)	2,334			(21,111		)	(73,303		)
Amounts reclassified from AOCI	—			(4,131		)	10,779			6,648
Net current period other comprehensive income (loss)	(54,526		)	(1,797		)	(10,332		)	(66,655		)
Accumulated other comprehensive (loss) income, net of tax, as of December 31, 2016	$	(352,025	)	$	7,604		$	(335,674	)	$	(680,095	)

Reclassifications of Accumulated Other Comprehensive Income to Consolidated Statement of Comprehensive Income

The following table provides details about reclassifications out of AOCI to the Consolidated Statement of Comprehensive Income:



	Year Ended December 31,
(DOLLARS IN THOUSANDS)	2018			2017			2016			Affected Line Item in the Consolidated Statement of Comprehensive Income
(Losses) gains on derivatives qualifying as hedges
Foreign currency contracts	$	(7,089	)	$	4,506		$	5,401		Cost of goods sold
Interest rate swaps	(864		)	(789		)	(595		)	Interest expense
Tax	886			(563		)	(675		)	Provision for income taxes
Total	$	(7,067	)	$	3,154		$	4,131		Total, net of income taxes
(Losses) gains on pension and postretirement liability adjustments
Prior service cost	$	7,752		$	7,040		$	7,469		(a)
Actuarial losses	(20,645		)	(24,699		)	(21,103		)	(a)
Tax	2,853			3,778			2,855			Provision for income taxes
Total	$	(10,040	)	$	(13,881	)	$	(10,779	)	Total, net of income taxes

_______________________


(a)	The amortization of prior service cost and actuarial loss is included in the computation of net periodic benefit cost. Refer to Note 16 to the Consolidated Financial Statements for additional information regarding net periodic benefit cost.

Redeemable Noncontrolling Interests (Tables)

12 Months Ended

Dec. 31, 2018

Noncontrolling Interest [Abstract]

Schedule of Redeemable Noncontrolling Interest

The following table sets forth the details of the Company's redeemable non-controlling interests:



(DOLLARS IN THOUSANDS)	Redeemable Noncontrolling Interests
Balance at December 31, 2017	$	—
Acquired through acquisitions during 2018	97,510
Share of profit or loss attributable to noncontrolling interests	2,196
Redemption value mark-up for the current period	2,848
Sale of a subsidiary with redeemable noncontrolling interests	(14,673		)
Exercises of redeemable noncontrolling interests	(6,075		)
Balance at December 31, 2018	81,806

Nature of Operations and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2018
Organization And Summary Of Significant Accounting Policies [Line Items]
Length of time financial statements and notes presented					365 days	365 days	365 days
Proceeds from Sale of Finance Receivables					$ 16,900	$ 7,600	$ 34,000
Minimum percentage chance of tax benefit realization in final settlement	50.00%				50.00%
TCJA, income tax expense (benefit)				$ 139,200
TCJA, remeasurement, income tax expense (benefit)		$ 200
Repatriation amount	$ 32,800		$ 600
TCJA, provisional income tax expense (benefit), toll charge		$ 8,000				$ 2,000,000
Concentration risk threshold					10.00%
Tax reform, toll charge				100,600
Prior service costs from plan improvements amortization period, minimum, years					10 years
Prior service costs from plan improvements amortization period, maximum, years					20 years
Amortization period of internal and external development costs, years					7 years
Stock options and stock settled appreciation rights (SSARs) excluded from calculation of diluted shares					0	0	0
Difference amount between basic and diluted net income per share (in dollars per share)					$ 0.02	$ 0.01	$ 0.01
Net income					$ 339,781	$ 295,665	$ 405,031
Increase (decrease) in accrued liabilities and other operating liabilities						(28,800)	(14,400)
Net cash provided by operating activities					437,575	390,756	550,139
Net cash used in financing activities					$ 4,870,703	(42,558)	(34,427)
Percentage Of Products Customized To Customer Specifications Which Have No Alternative Use					90.00%
Inventories	$ 1,078,537			649,448	$ 1,078,537	649,448
Gross Profit					1,682,707	1,472,463	1,395,563
Restricted Stock [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Net income					$ 1,000	1,000	$ 1,000
Machinery and equipment [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Estimated useful life of property, plant and equipment, years					20 years
Minimum [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Length of time Company historically operated					365 days
Minimum [Member] \| Customer Relationships [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Other intangible assets amortized period, years					11 years
Minimum [Member] \| Trade Names [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Other intangible assets amortized period, years					14 years
Minimum [Member] \| Technological Know-how [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Other intangible assets amortized period, years					5 years
Minimum [Member] \| Buildings And Improvements [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Estimated useful life of property, plant and equipment, years					10 years
Minimum [Member] \| Machinery and equipment [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Estimated useful life of property, plant and equipment, years					3 years
Minimum [Member] \| Information Technology Hardware And Software [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Estimated useful life of property, plant and equipment, years					3 years
Maximum [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Length of time Company historically operated					372 days
Maximum [Member] \| Customer Relationships [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Other intangible assets amortized period, years					23 years
Maximum [Member] \| Patents [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Other intangible assets amortized period, years					11 years
Maximum [Member] \| Trade Names [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Other intangible assets amortized period, years					28 years
Maximum [Member] \| Technological Know-how [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Other intangible assets amortized period, years					28 years
Maximum [Member] \| Buildings And Improvements [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Estimated useful life of property, plant and equipment, years					40 years
Maximum [Member] \| Information Technology Hardware And Software [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Estimated useful life of property, plant and equipment, years					7 years
Accounting Standards Update 2014-09 [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Cumulative adjustment relating to the adoption of ASC 2016-16				2,068		2,068
Prepaid Expense and Other Assets								$ 4,400
Inventories								(1,700)
Taxes Payable								600
Sales Revenue, Net \| Geographic Concentration Risk
Organization And Summary Of Significant Accounting Policies [Line Items]
Concentration risk threshold					3.3685%
Assets, Total \| Geographic Concentration Risk
Organization And Summary Of Significant Accounting Policies [Line Items]
Concentration risk threshold					1.46803%
Retained earnings [Member] \| Accounting Standards Update 2014-09 [Member]
Organization And Summary Of Significant Accounting Policies [Line Items]
Cumulative adjustment relating to the adoption of ASC 2016-16				$ 2,068		$ 2,068		$ 2,100
Difference between Revenue Guidance in Effect before and after Topic 606
Organization And Summary Of Significant Accounting Policies [Line Items]
Net income					$ 1,900
Revenues					4,000
Gross Profit					$ 2,600

Nature of Operations and Summary of Significant Accounting Policies - Schedule of Inventory (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 568,916	$ 326,140
Work in process	48,819	16,431
Finished goods	460,802	306,877
Total	$ 1,078,537	$ 649,448

Nature of Operations and Summary of Significant Accounting Policies Nature of Operations and Summary of Significant Accounting Policies - Effect of Adoption of Accounting Pronouncement (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
New Accounting Pronouncement, Early Adoption [Line Items]
Net cash used in financing activities	$ 4,870,703	$ (42,558)	$ (34,427)
Net cash provided by operating activities	437,575	390,756	$ 550,139
Inventory	1,078,537	649,448
Accounts payable	$ 471,382	$ 338,188

Nature of Operations and Summary of Significant Accounting Policies - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disaggregation of Revenue [Line Items]
Revenue	$ 3,977,539	$ 3,398,719	$ 3,116,350
Flavors [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,990,985	1,632,166	1,496,525
Fragrances [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,496,493	1,424,612	1,303,653
Fragrance Ingredients [Member]
Disaggregation of Revenue [Line Items]
Revenue	490,061	341,941	316,172
Europe, Africa and Middle East [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,396,315	1,065,596	964,931
Greater Asia [Member]
Disaggregation of Revenue [Line Items]
Revenue	991,015	903,546	880,040
North America [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,010,126	901,821	769,081
Latin America [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 580,083	$ 527,756	$ 502,298

Nature of Operations and Summary of Significant Accounting Policies - Contract Asset and Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Receivables (included in Trade receivables)	$ 946,938	$ 677,055
Contract asset - Short term	$ 487	$ 4,499

Restructuring and Other Charges, Net - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($) employee	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($) Position
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 5,079	$ 19,711	$ (1,042)
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3,884	18,309	(1,700)
Facility-Related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring, expected charges	2,000
2017 Productivity Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 3,900	20,600
Expected number of positions eliminated \| employee	370
2017 Productivity Program [Member] \| Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Cash charges	$ 7,300	14,000
2017 Productivity Program [Member] \| Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring, expected charges	27,000
2017 Productivity Program [Member] \| Maximum [Member] \| Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring, expected charges	$ 25,000
2015 Severance Initiatives [Member]
Restructuring Cost and Reserve [Line Items]
Decrease in provision for severance costs or other employee-related liabilities		(2,300)	$ 1,700
2015 Severance Initiatives [Member] \| Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Cash charges		$ 200
Expected number of positions eliminated \| Position			150

Restructuring and Other Charges - Movements in Restructuring and Related Accruals (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Restructuring Reserve [Roll Forward]
Balance	$ 7,957	$ 3,277	$ 7,882
Additional charges (reversals), net	(5,079)	(19,711)	1,042
Non-cash charges	(418)	(528)	(658)
Payments	(7,418)	(14,503)	(2,905)
Balance	5,200	7,957	3,277
Employee-Related [Member]
Restructuring Reserve [Roll Forward]
Balance	7,539	3,277	7,882
Additional charges (reversals), net	(3,884)	(18,309)	1,700
Non-cash charges	0	0	0
Payments	(7,298)	(14,047)	(2,905)
Balance	4,125	7,539	3,277
Asset - Related/and Other [Member]
Restructuring Reserve [Roll Forward]
Balance	418	0	0
Additional charges (reversals), net	(1,195)	(1,402)	(658)
Non-cash charges	(418)	(528)	(658)
Payments	(120)	(456)	0
Balance	$ 1,075	$ 418	$ 0

Acquisitions - TAA Narrative (Details) - The Additive Advantage, LLC [Member] $ in Millions	Dec. 07, 2018 USD ($)
Business Acquisition [Line Items]
Percentage of voting interest acquired	100.00%
Cash paid to acquire business	$ 14.5
Business combination, consideration transferred	6.9
Contingent consideration, liability	0.5
Identifiable intangible assets	11.4
Goodwill, expected tax deductible amount	10.4
Maximum contingent payment	$ 5.4

Acquisitions - Frutarom Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands			12 Months Ended
	Oct. 04, 2018	Sep. 17, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Loss on extinguishment of debt			$ (38,810)	$ 0	$ 0
Revenue			3,977,539	3,398,719	3,116,350
Net income			339,781	295,665	405,031
Gross Proceeds		$ 825,000
Goodwill			5,378,388	1,156,288	$ 1,000,123	$ 941,389
Tangible equity units issued		16,500,000
Tangible equity units proceeds		$ 800,200
Frutarom Industries Ltd. [Member]
Business Acquisition [Line Items]
Acquisition Related Costs			156,700
Debt related commitment fees and debt issuance costs			39,400
Expected make-whole payments for early debt payoff			34,900
Loss on extinguishment of debt			3,900
Realized gain on foreign currency derivative			12,500
Transaction costs			66,000
Percentage of voting interest acquired	100.00%
Cash transferred per share of common stock (in dollars per share)	$ 71.19
Exchange ratio per share	0.2490
Repayments of debt	$ 695,000
Debt, face amount	3,300,000
Paid in cash vested stock	$ 19,200
Shares issued, vested awards (in shares)	67,046
Held in escrow	$ 13,600
Unvested awards, fair value	7,000
Cash paid to acquire business	$ 4,288,595
Business acquisition, equity interest (in shares)	14,900,000
Cumulative percentage ownership after transaction	14.00%
Finished goods and work in process	$ 31,500
Goodwill	4,243,079		$ 4,224,010	$ 0
Amortizing Note [Member]
Business Acquisition [Line Items]
Tangible equity units proceeds		$ 135,100
Amortizing Note [Member] \| Frutarom Industries Ltd. [Member]
Business Acquisition [Line Items]
Gross Proceeds	139,500
Senior Notes [Member] \| Frutarom Industries Ltd. [Member]
Business Acquisition [Line Items]
Debt, face amount	2,800,000
Line of Credit [Member] \| Frutarom Industries Ltd. [Member]
Business Acquisition [Line Items]
Debt, face amount	$ 350,000

Acquisitions - Schedule of purchase price (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 04, 2018	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Common stock, shares outstanding		106,619,202	78,947,381
Treasury stock, shares at cost		21,906,935	36,910,809
Common stock, shares issued		128,526,137	115,858,190
Frutarom Industries Ltd. [Member]
Business Acquisition [Line Items]
Cash transferred per share of common stock (in dollars per share)	$ 71.19
Total cash paid to shareholders of Frutarom	$ 4,241,238
Cash paid to vested stock option holders	19,229
Cash in escrow for unvested stock option holders	7,048
Cash paid for closing dividend	21,065
Cash in lieu of fractional shares	15
Cash portion of the purchase consideration	$ 4,288,595
Treasury stock, shares at cost	59,576,000
Exchange ratio per share	0.2490
Common stock, shares issued	14,835,000
Share price (usd per share)	$ 140
Total equity consideration paid to shareholders of Frutarom	$ 2,038,113
Equity consideration paid to vested stock Frutarom option holders (representing 67,046 shares)	9,211
Equity portion of purchase consideration	2,047,324
Repayment of existing credit facilities of Frutarom	694,975
Total purchase consideration	$ 7,030,894
Frutarom Industries Ltd. [Member] \| Frutarom Industries Ltd. [Member]
Business Acquisition [Line Items]
Common stock, shares outstanding	59,576,000

Acquisitions - Schedule of assets acquired and liabilities assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Oct. 04, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Excess attributable to Goodwill	$ 5,378,388		$ 1,156,288	$ 1,000,123	$ 941,389
Frutarom Industries Ltd. [Member]
Business Acquisition [Line Items]
Cash and cash equivalents		$ 140,747
Other current assets		699,627
Identifiable intangible assets		2,690,000
Other assets		353,710
Equity method investments		25,791
Current liabilities		(311,325)
Debt assumed		(77,037)
Other liabilities		(632,488)
Redeemable noncontrolling interest		(97,510)
Noncontrolling interest		(3,700)
Excess attributable to Goodwill	$ 4,224,010	4,243,079	$ 0
Total Purchase Consideration		$ 7,030,894

Acquisitions - Schedule of intangible assets acquired (Details) - Frutarom Industries Ltd. [Member] $ in Thousands	Oct. 04, 2018 USD ($)
Business Acquisition [Line Items]
Estimated Amounts	$ 2,690,000
Product Formula [Member]
Business Acquisition [Line Items]
Estimated Amounts	290,000
Customer Relationships [Member]
Business Acquisition [Line Items]
Estimated Amounts	2,260,000
Trademarks [Member]
Business Acquisition [Line Items]
Estimated Amounts	$ 140,000
Minimum [Member] \| Product Formula [Member]
Business Acquisition [Line Items]
Weighted-Average Useful Life	10 years
Minimum [Member] \| Customer Relationships [Member]
Business Acquisition [Line Items]
Weighted-Average Useful Life	18 years
Minimum [Member] \| Trademarks [Member]
Business Acquisition [Line Items]
Weighted-Average Useful Life	23 years
Maximum [Member] \| Product Formula [Member]
Business Acquisition [Line Items]
Weighted-Average Useful Life	12 years
Maximum [Member] \| Customer Relationships [Member]
Business Acquisition [Line Items]
Weighted-Average Useful Life	23 years
Maximum [Member] \| Trademarks [Member]
Business Acquisition [Line Items]
Weighted-Average Useful Life	26 years

Acquisitions - Unaudited pro forma information (Details) - Frutarom Industries Ltd. [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Unaudited pro forma net sales	$ 5,135,906	$ 4,761,115
Unaudited pro forma net income attributable to the Company	$ 474,498	$ 240,784

Acquisitions - PowderPure, Fragrance Resources, and David Michael (Details) $ in Thousands, € in Millions						3 Months Ended	12 Months Ended
	Sep. 17, 2018 USD ($)	Apr. 07, 2017 USD ($)	Jan. 17, 2017 EUR (€)	Jan. 17, 2017 USD ($)	Oct. 07, 2016 USD ($)	Jun. 30, 2017 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)
Business Acquisition [Line Items]
Gross Proceeds	$ 825,000
Selling and administrative expenses							$ 707,461	$ 570,144	$ 572,518
Cash paid for business acquisition							4,857,343	192,328	236,836
Goodwill							5,378,388	$ 1,156,288	$ 1,000,123	$ 941,389
PowderPure [Member]
Business Acquisition [Line Items]
Percentage of voting interest acquired		100.00%
Cash paid to acquire business		$ 54,600
Cash acquired from acquisition		400
Additional contingent consideration		1,400
Purchase price exceeds preliminary fair value of net assets		48,000
Goodwill, expected tax deductible amount		15,200
Selling and administrative expenses							$ 1,300
PowderPure [Member] \| Maximum [Member]
Business Acquisition [Line Items]
Earn out payable		10,000
PowderPure [Member] \| Proprietary Technology [Member]
Business Acquisition [Line Items]
Intangible assets acquired		$ 27,500
Weighted-Average Useful Life		14 years
PowderPure [Member] \| Trade Names [Member]
Business Acquisition [Line Items]
Intangible assets acquired		$ 4,500
Weighted-Average Useful Life		14 years
PowderPure [Member] \| Customer Relationships [Member]
Business Acquisition [Line Items]
Intangible assets acquired		$ 800
Weighted-Average Useful Life		2 years
Fragrance Resources [Member]
Business Acquisition [Line Items]
Percentage of voting interest acquired				100.00%
Cash paid to acquire business			€ 143.4	$ 151,900
Cash acquired from acquisition			13.7	14,400
Purchase price exceeds preliminary fair value of net assets				122,000
Business combination, consideration transferred			142.0	150,500
Additional payment for working capital adjustment			€ 1.4	1,500
Goodwill, not expected tax deductible amount				72,000
Accrued liabilities				$ 15,300
Fragrance Resources [Member] \| Proprietary Technology [Member]
Business Acquisition [Line Items]
Weighted-Average Useful Life			5 years	5 years
Fragrance Resources [Member] \| Trade Names [Member]
Business Acquisition [Line Items]
Weighted-Average Useful Life			2 years	2 years
Fragrance Resources [Member] \| Customer Relationships [Member]
Business Acquisition [Line Items]
Intangible assets acquired				$ 51,700
Fragrance Resources [Member] \| Customer Relationships [Member] \| Minimum [Member]
Business Acquisition [Line Items]
Weighted-Average Useful Life			12 years	12 years
Fragrance Resources [Member] \| Customer Relationships [Member] \| Maximum [Member]
Business Acquisition [Line Items]
Weighted-Average Useful Life			16 years	16 years
Fragrance Resources [Member] \| Trade Names and Proprietary Technology [Member]
Business Acquisition [Line Items]
Intangible assets acquired				$ 13,600
David Michael & Company, Inc. [Member]
Business Acquisition [Line Items]
Percentage of voting interest acquired					100.00%
Cash paid to acquire business					$ 242,600
Cash acquired from acquisition					$ 5,100
Purchase price exceeds preliminary fair value of net assets						$ 168,700
Goodwill, expected tax deductible amount						110,200
Additional payment for working capital adjustment						700
David Michael & Company, Inc. [Member] \| Proprietary Technology [Member]
Business Acquisition [Line Items]
Weighted-Average Useful Life					5 years
David Michael & Company, Inc. [Member] \| Trade Names [Member]
Business Acquisition [Line Items]
Weighted-Average Useful Life					2 years
David Michael & Company, Inc. [Member] \| Customer Relationships [Member]
Business Acquisition [Line Items]
Intangible assets acquired						50,000
David Michael & Company, Inc. [Member] \| Customer Relationships [Member] \| Minimum [Member]
Business Acquisition [Line Items]
Weighted-Average Useful Life					18 years
David Michael & Company, Inc. [Member] \| Customer Relationships [Member] \| Maximum [Member]
Business Acquisition [Line Items]
Weighted-Average Useful Life					20 years
David Michael & Company, Inc. [Member] \| Trade Names and Proprietary Technology [Member]
Business Acquisition [Line Items]
Intangible assets acquired						$ 8,400

Property, Plant and Equipment, Net - Schedule of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 2,492,938	$ 2,090,755
Accumulated depreciation	(1,251,786)	(1,210,175)
Property, plant and equipment, net	1,241,152	880,580
Depreciation expense	89,100	83,400	$ 78,600
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	75,528	39,006
Buildings and improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	760,783	560,939
Machinery and equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,342,881	1,162,164
Information technology [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	179,876	186,891
Construction in process [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 133,870	$ 141,755

Goodwill and Other Intangible Assets, Net Goodwill and Other Intangible Assets, Net - Goodwill Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill [Roll Forward]
Goodwill	$ 1,156,288	$ 1,000,123	$ 941,389
Acquisitions	4,253,541	87,865	67,480
Disposals	(19,069)
Foreign exchange	(12,372)	32,920	(8,746)
Other		35,380
Goodwill	5,378,388	1,156,288	$ 1,000,123
Frutarom Industries Ltd. [Member]
Goodwill [Roll Forward]
Goodwill	0
Goodwill	$ 4,224,010	$ 0

Goodwill and Other Intangible Assets, Net - Schedule of Goodwill by Operating Segment (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Oct. 04, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Goodwill [Line Items]
Goodwill	$ 5,378,388		$ 1,156,288	$ 1,000,123	$ 941,389
Flavors [Member]
Goodwill [Line Items]
Goodwill	525,060		525,038
Fragrances [Member]
Goodwill [Line Items]
Goodwill	618,878		631,250
Unallocated [Member]
Goodwill [Line Items]
Goodwill	10,440		0
Frutarom Industries Ltd. [Member]
Goodwill [Line Items]
Goodwill	$ 4,224,010	$ 4,243,079	$ 0

Goodwill and Other Intangible Assets, Net - Trademark and Other Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	$ 3,331,211	$ 633,077
Total accumulated amortization	(291,889)	(217,290)
Other intangible assets, net	3,039,322	415,787
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	2,658,659	407,636
Total accumulated amortization	(156,906)	(104,800)
Trade Names and Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	177,770	38,771
Total accumulated amortization	(19,593)	(15,241)
Technological Know-how [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	451,016	161,856
Total accumulated amortization	(93,051)	(76,766)
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	43,766	24,814
Total accumulated amortization	$ (22,339)	$ (20,483)

Goodwill and Other Intangible Assets, Net - Amortization Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of acquisition-related intangibles	$ 75,879	$ 34,693	$ 23,763
Estimated annual amortization, 2019	191,175
Estimated annual amortization, 2020	187,034
Estimated annual amortization, 2021	182,203
Estimated annual amortization, 2022	178,250
Estimated annual amortization, 2023	$ 178,137

Other Assets - Schedule of Other Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Other Assets [Abstract]
Deferred income taxes	$ 89,000	$ 99,777
Overfunded pension plans	75,158	70,792
Cash surrender value of life insurance contracts	43,179	45,216
Equity method investments	31,470	0
Other(a)	49,866	33,942
Total	$ 288,673	$ 249,727

Other Current Liabilities - Schedule of Other Current Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Other Liabilities, Current [Abstract]
Accrued payrolls and bonuses	$ 121,080	$ 88,361
Rebates and incentives payable	44,175	37,218
Value-added tax payable	23,253	17,856
Interest payable	36,823	15,863
Current pension and other postretirement benefit obligation	11,528	12,866
Accrued insurance (including workers’ compensation)	9,447	10,771
Earn outs payable	29,974	0
Restructuring and other charges	5,200	7,957	$ 3,277	$ 7,882
Accrued income taxes	24,356	22,190
Other	224,672	156,112
Total	$ 530,508	$ 369,194

Sale and Leaseback Transactions - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Sale Leaseback Transaction [Line Items]
Deferred gain on sale of property	$ 29.9	$ 32.7
Deferred Gains [Member]
Sale Leaseback Transaction [Line Items]
Deferred gain on sale of property	$ 26.7	$ 29.5

Debt - Components of Debt (Detail) $ in Thousands, € in Millions	Dec. 31, 2018 USD ($)	Sep. 25, 2018 EUR (€)	Sep. 25, 2018 USD ($)	Dec. 31, 2017 USD ($)
Debt Instrument [Line Items]
Total debt	$ 4,553,059			$ 1,639,152
Less: Short term borrowings	(48,642)			(6,966)
Long-term debt	4,504,417			1,632,186
Senior Notes - 2007 [Member]
Debt Instrument [Line Items]
Senior notes	$ 0			249,765
Senior Notes - 2007 [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Effective Interest Rate	6.40%
Senior Notes - 2007 [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Effective Interest Rate	6.82%
Senior Notes - 2020 [Member]
Debt Instrument [Line Items]
Effective Interest Rate	3.69%
Senior notes	$ 298,499			0
Senior Notes, Euro Notes, 2021 [Member]
Debt Instrument [Line Items]
Effective Interest Rate	0.82%	0.50%	0.50%
Senior notes	$ 337,704	€ 300.0		0
Total debt		€ 297.7	$ 349,500
Senior Notes - 2023 [Member]
Debt Instrument [Line Items]
Effective Interest Rate	3.30%
Senior notes	$ 298,698			298,670
Senior Notes, Euro Notes, 2024 [Member]
Debt Instrument [Line Items]
Effective Interest Rate	1.88%
Senior notes	$ 564,034			589,848
Senior Notes, Euro Notes, 2026 [Member]
Debt Instrument [Line Items]
Effective Interest Rate	1.93%	1.80%	1.80%
Senior notes	$ 899,886	€ 800.0		0
Total debt		€ 794.1	$ 932,200
Senior Notes - 2028 [Member]
Debt Instrument [Line Items]
Effective Interest Rate	4.57%
Senior notes	$ 396,377			0
Senior notes - 2047 [Member]
Debt Instrument [Line Items]
Effective Interest Rate	4.44%
Senior notes	$ 493,151			492,819
Senior Notes - 2048 [Member]
Debt Instrument [Line Items]
Effective Interest Rate	5.12%
Senior notes	$ 785,788			0
Amortizing Note [Member]
Debt Instrument [Line Items]
Effective Interest Rate	5.81%
Senior notes	$ 125,007			0
Revolver Borrowings [Member]
Debt Instrument [Line Items]
Senior notes	0			0
Bank overdrafts and other [Member]
Debt Instrument [Line Items]
Bank overdrafts and other	4,695			7,993
Deferred realized gains on interest rate swaps [Member]
Debt Instrument [Line Items]
Deferred realized gains on interest rate swaps	$ 57			57
Term Loan Credit Agreement [Member] \| Loans Payable [Member]
Debt Instrument [Line Items]
Effective Interest Rate	3.6485%
Senior notes	$ 349,163			$ 0
London Interbank Offered Rate (LIBOR) [Member] \| Revolver Borrowings [Member]
Debt Instrument [Line Items]
Effective Interest Rate	1.125%

Tangible Equity Units (Details) $ / shares in Units, $ in Millions	Sep. 17, 2018 USD ($) $ / shares shares
Equity [Abstract]
Tangible equity units issued \| shares	16,500,000
Stated rate	6.00%
Price per unit	$ 50
Tangible equity units proceeds \| $	$ 800.2
Less: Issuance costs \| $	24.8
Fair Value per TEU \| $	$ 0.0
Quarterly installments	$ 0.75
Initial installment	$ 0.73333
Interest and partial repayment of principal	3.79%
Price for basic share (in dollars per share)	$ 0.3134

Debt - Additional Information (Detail)									3 Months Ended	12 Months Ended
Debt - Additional Information (Detail)	Oct. 04, 2018 USD ($)	Sep. 17, 2018 USD ($) $ / shares	Jun. 06, 2018 USD ($)	May 18, 2017 USD ($)	Mar. 14, 2016 EUR (€)	Mar. 14, 2016 USD ($)	Apr. 04, 2013 USD ($)	Sep. 27, 2007 USD ($)	Sep. 30, 2017 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Sep. 26, 2018 USD ($)	Sep. 25, 2018 EUR (€)	Sep. 25, 2018 USD ($)	Jun. 06, 2018 EUR (€)	Jun. 06, 2018 USD ($)	May 31, 2018 USD ($)	May 07, 2018 USD ($)	Mar. 14, 2016 USD ($)
Schedule Of Borrowings [Line Items]
Amount still available for additional borrowings										$ 1,000,000,000
Debt										4,553,059,000	$ 1,639,152,000
Gross Proceeds		$ 825,000,000
Quarterly installments \| $ / shares		$ 0.75
Initial installment \| $ / shares		$ 0.73333
Interest and partial repayment of principal		3.79%
Gain (loss) on pre-issuance hedges						$ (3,200,000)				$ (12,505,000)	5,310,000	$ 3,244,000
Repurchase price of principal amount of Senior Notes in percentage										101.00%
Commercial Paper [Member]
Schedule Of Borrowings [Line Items]
Short term debt, term										90 days
Short-term debt										$ 0	0
Maximum amount outstanding										85,000,000	108,000,000
Loans Payable [Member] \| Term Loan Credit Agreement [Member]
Schedule Of Borrowings [Line Items]
Debt, face amount																	$ 350,000,000.0
Debt Instrument, Term			3 years
Amortization rate			10.00%
Maximum ratio of net debt to EBI TDA with step-downs over time			4.50
Senior notes										$ 349,163,000	0
Interest rate of debt										3.6485%
Senior notes - 2017 [Member]
Schedule Of Borrowings [Line Items]
Debt, face amount				$ 500,000,000
Debt Instrument, Term				30 years
Interest rate of debt				4.375%
Senior notes discount				$ 1,800,000
Proceeds related to the issuance of Senior Notes				493,900,000
Underwriting discount				4,400,000
Other deferred costs				900,000
Gain (loss) on pre-issuance hedges				$ (5,300,000)
Senior Notes - 2016 [Member]
Schedule Of Borrowings [Line Items]
Debt, face amount \| €					€ 500,000,000.0
Debt Instrument, Term					8 years	8 years
Interest rate of debt					1.75%															1.75%
Senior notes discount \| €					€ 900,000
Proceeds related to the issuance of Senior Notes \| €					496,000,000
Underwriting discount \| €					€ 3,100,000
Other deferred costs																				$ 1,300,000
Senior Notes - 2007 [Member]
Schedule Of Borrowings [Line Items]
Senior notes										$ 0	249,765,000
Senior notes								$ 500,000,000
Extinguishment of debt									$ 250,000,000
Senior Notes - 2007 [Member] \| Minimum [Member]
Schedule Of Borrowings [Line Items]
Interest rate of debt										6.40%
Senior Notes - 2007 [Member] \| Maximum [Member]
Schedule Of Borrowings [Line Items]
Interest rate of debt										6.82%
Senior Notes - 2007 [Member] \| Series A Senior Notes [Member]
Schedule Of Borrowings [Line Items]
Interest rate of debt								6.25%
Senior notes								$ 250,000,000
Maturity date								Sep. 27, 2017
Senior Notes - 2007 [Member] \| Series B Notes [Member]
Schedule Of Borrowings [Line Items]
Interest rate of debt								6.35%
Senior notes								$ 100,000,000
Maturity date								Sep. 27, 2019
Senior Notes - 2007 [Member] \| Series C Notes [Member]
Schedule Of Borrowings [Line Items]
Interest rate of debt								6.50%
Senior notes								$ 50,000,000
Maturity date								Sep. 27, 2022
Senior Notes - 2007 [Member] \| Series D Notes [Member]
Schedule Of Borrowings [Line Items]
Interest rate of debt								6.79%
Senior notes								$ 100,000,000
Maturity date								Sep. 27, 2027
Senior Notes - 2013 [Member]
Schedule Of Borrowings [Line Items]
Interest rate of debt							3.20%
Senior notes discount							$ 300,000
Proceeds related to the issuance of Senior Notes							297,800,000
Underwriting discount							1,900,000
Senior notes							300,000,000.0
Other deferred financing costs							$ 900,000
Senior notes interest payable description							interest payable on May 1 and November 1 of each year
Maturity date							May 01, 2023
Senior Notes, Euro Notes, 2021 [Member]
Schedule Of Borrowings [Line Items]
Senior notes										$ 337,704,000	0			€ 300,000,000
Interest rate of debt										0.82%				0.50%	0.50%
Debt														€ 297,700,000	$ 349,500,000
Senior Notes, Euro Notes, 2026 [Member]
Schedule Of Borrowings [Line Items]
Senior notes										$ 899,886,000	0			€ 800,000,000
Interest rate of debt										1.93%				1.80%	1.80%
Debt														€ 794,100,000	$ 932,200,000
London Interbank Offered Rate (LIBOR) [Member]
Schedule Of Borrowings [Line Items]
Margin on variable rate										1.125%
London Interbank Offered Rate (LIBOR) [Member] \| Loans Payable [Member] \| Term Loan Credit Agreement [Member] \| Minimum [Member]
Schedule Of Borrowings [Line Items]
Margin on variable rate			0.75%
London Interbank Offered Rate (LIBOR) [Member] \| Loans Payable [Member] \| Term Loan Credit Agreement [Member] \| Maximum [Member]
Schedule Of Borrowings [Line Items]
Margin on variable rate			2.00%
Base Rate [Member] \| Loans Payable [Member] \| Term Loan Credit Agreement [Member] \| Minimum [Member]
Schedule Of Borrowings [Line Items]
Margin on variable rate			0.00%
Base Rate [Member] \| Loans Payable [Member] \| Term Loan Credit Agreement [Member] \| Maximum [Member]
Schedule Of Borrowings [Line Items]
Margin on variable rate			1.00%
Frutarom Industries Ltd. [Member]
Schedule Of Borrowings [Line Items]
Debt related commitment fees and debt issuance costs										$ 39,400,000
Debt, face amount	$ 3,300,000,000
Expected make-whole payments for early debt payoff										34,900,000
Frutarom Industries Ltd. [Member] \| Bridge Loan [Member]
Schedule Of Borrowings [Line Items]
Revolving credit facility																		$ 5,450,000,000
Debt related commitment fees and debt issuance costs										39,400,000
Frutarom Industries Ltd. [Member] \| Senior Notes - 2007 [Member]
Schedule Of Borrowings [Line Items]
Repurchased face amount																			$ 250,000,000
Interest, net of amounts capitalized		$ 7,700,000
Expected make-whole payments for early debt payoff		34,900,000
Citibank, N.A [Member] \| Tranche A Revolving Credit Facility [Member]
Schedule Of Borrowings [Line Items]
Revolving credit facility																	585,000,000
Line of credit facility, maximum borrowing capacity, sublimit																	25,000,000
Citibank, N.A [Member] \| Tranche B Revolving Credit Facility [Member]
Schedule Of Borrowings [Line Items]
Revolving credit facility																	415,000,000
Line of credit facility, maximum borrowing capacity, sublimit																€ 50,000,000	$ 25,000,000
Citibank, N.A [Member] \| Revolving Loan Facility [Member]
Schedule Of Borrowings [Line Items]
Debt related commitment fees and debt issuance costs			$ 700,000
Line of credit										0
Citibank, N.A [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Revolving Loan Facility [Member] \| Minimum [Member]
Schedule Of Borrowings [Line Items]
Margin on variable rate			0.75%
Citibank, N.A [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Revolving Loan Facility [Member] \| Maximum [Member]
Schedule Of Borrowings [Line Items]
Margin on variable rate			1.75%
Citibank, N.A [Member] \| Base Rate [Member] \| Revolving Loan Facility [Member] \| Minimum [Member]
Schedule Of Borrowings [Line Items]
Margin on variable rate			0.00%
Citibank, N.A [Member] \| Base Rate [Member] \| Revolving Loan Facility [Member] \| Maximum [Member]
Schedule Of Borrowings [Line Items]
Margin on variable rate			0.75%
Carrying Amount [Member] \| Senior Notes - 2020 [Member]
Schedule Of Borrowings [Line Items]
Senior notes										298,499,000	0
Carrying Amount [Member] \| Senior Notes - 2020 [Member] \| Unsecured Debt [Member]
Schedule Of Borrowings [Line Items]
Senior notes													$ 300,000,000
Interest rate of debt													3.40%
Debt													$ 298,900,000
Carrying Amount [Member] \| Senior Notes - 2028 [Member]
Schedule Of Borrowings [Line Items]
Senior notes										396,377,000	0		$ 400,000,000
Interest rate of debt													4.45%
Debt													$ 397,000,000
Carrying Amount [Member] \| Senior Notes - 2048 [Member]
Schedule Of Borrowings [Line Items]
Senior notes										$ 785,788,000	$ 0		$ 800,000,000
Interest rate of debt													5.00%
Debt													$ 787,200,000
Amortizing Note [Member] \| Frutarom Industries Ltd. [Member]
Schedule Of Borrowings [Line Items]
Gross Proceeds	$ 139,500,000
Designated as Hedging Instrument [Member]
Schedule Of Borrowings [Line Items]
Amount of gain or (loss) on derivative		$ (3,900,000)

Tangible Equity Units (Allocation of TEU) (Details) $ in Millions	Sep. 17, 2018 USD ($)
Tangible Equity Units [Line Items]
Fair Value per TEU	$ 0.0
Gross Proceeds	825.0
Less: Issuance costs	24.8
Net Proceeds	800.2
SPC [Member]
Tangible Equity Units [Line Items]
Fair Value per TEU	0.0
Gross Proceeds	685.5
Less: Issuance costs	20.4
Net Proceeds	665.1
Amortizing Note [Member]
Tangible Equity Units [Line Items]
Less: Issuance costs	4.4
Net Proceeds	$ 135.1

Debt - Schedule of Debt Maturities (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Debt Instrument [Line Items]
Total	$ 4,595,174
Less than 1 Year	45,261
1-3 Years	3,175,890
3-5 Years	1,074,023
After 5 Years	300,000
Senior Notes - 2020 [Member]
Debt Instrument [Line Items]
Total	300,000
Less than 1 Year	0
1-3 Years	0
3-5 Years	300,000
After 5 Years	0
Senior Notes, Euro Notes, 2021 [Member]
Debt Instrument [Line Items]
Total	340,590
Less than 1 Year	0
1-3 Years	0
3-5 Years	340,590
After 5 Years	0
Senior Notes - 2023 [Member]
Debt Instrument [Line Items]
Total	300,000
Less than 1 Year	0
1-3 Years	0
3-5 Years	0
After 5 Years	300,000
Senior Notes, Euro Notes, 2024 [Member]
Debt Instrument [Line Items]
Total	567,650
Less than 1 Year	0
1-3 Years	567,650
3-5 Years	0
After 5 Years	0
Senior Notes, Euro Notes, 2026 [Member]
Debt Instrument [Line Items]
Total	908,240
Less than 1 Year	0
1-3 Years	908,240
3-5 Years	0
After 5 Years	0
Senior Notes - 2028 [Member]
Debt Instrument [Line Items]
Total	400,000
Less than 1 Year	0
1-3 Years	400,000
3-5 Years	0
After 5 Years	0
Senior notes - 2047 [Member]
Debt Instrument [Line Items]
Total	500,000
Less than 1 Year	0
1-3 Years	500,000
3-5 Years	0
After 5 Years	0
Senior Notes - 2048 [Member]
Debt Instrument [Line Items]
Total	800,000
Less than 1 Year	0
1-3 Years	800,000
3-5 Years	0
After 5 Years	0
Term Loan Credit Agreement [Member]
Debt Instrument [Line Items]
Total	350,000
Less than 1 Year	0
1-3 Years	0
3-5 Years	350,000
After 5 Years	0
Amortizing Note [Member]
Debt Instrument [Line Items]
Total	128,694
Less than 1 Year	45,261
1-3 Years	0
3-5 Years	83,433
After 5 Years	$ 0

Tangible Equity Units (Settlement conditions) (Details)	Dec. 31, 2018 $ / shares
Condition One
Tangible Equity Units [Line Items]
Share price (usd per share)	$ 159.54
Condition One \| Minimum [Member]
Tangible Equity Units [Line Items]
Tangible Equity Rate, Settlement Rate	0.3134
Condition Two
Tangible Equity Units [Line Items]
Tangible Equity Units, Conditional Value	50
Condition Two \| Minimum [Member]
Tangible Equity Units [Line Items]
Share price (usd per share)	130.25
Condition Two \| Maximum [Member]
Tangible Equity Units [Line Items]
Share price (usd per share)	159.54
Condition Three
Tangible Equity Units [Line Items]
Share price (usd per share)	130.25
Condition Three \| Maximum [Member]
Tangible Equity Units [Line Items]
Tangible Equity Rate, Settlement Rate	$ 0.3839

Income Taxes - Schedule of Earnings before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
U.S. (loss) income before taxes	$ (99,125)	$ (24)	$ 9,078
Foreign income before taxes	546,882	537,069	514,639
Income before taxes	$ 447,757	$ 537,045	$ 523,717

Income Taxes - Schedule of Income Tax Provision (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current tax provision
Federal	$ (11,568)	$ 68,886	$ (2,920)
State and local	1,709	137	1,383
Foreign	98,433	113,468	105,873
Total current income tax provision	88,574	182,491	104,336
Deferred tax provision
Federal	(8,287)	74,446	8,838
State and local	(7,092)	(11,537)	(631)
Foreign	34,781	(4,020)	6,143
Total deferred income tax provision	19,402	58,889	14,350
Total income taxes	$ 107,976	$ 241,380	$ 118,686

Income Taxes - Schedule of Reconciliation between U.S. Federal Statutory Income Tax Rate to Actual Effective Tax Rate (Detail)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Statutory tax rate	21.00%	35.00%	35.00%
Difference in effective tax rate on foreign earnings and remittances	(6.10%)	(12.60%)	(12.60%)
Tax benefit from supply chain optimization	(3.00%)	(2.30%)	(0.70%)
Unrecognized tax benefit, net of reversals	2.90%	2.30%	0.60%
U.S. tax reform	(1.80%)	26.50%	0.00%
Deferred taxes on deemed repatriation	10.10%	0.30%	1.10%
Global intangible low-taxed income (GILTI)	1.80%	0.00%	0.00%
Acquisition costs	1.30%	0.00%	0.00%
Release of valuation allowance on state deferred	(1.50%)	(1.70%)	0.00%
State and local taxes	0.60%	0.10%	0.10%
Other, net	(1.20%)	(2.70%)	(0.80%)
Effective tax rate	24.10%	44.90%	22.70%

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Taxes [Line Items]
U.S. federal tax rate					21.00%	35.00%	35.00%
Reversals of liabilities for uncertain tax positions	$ 3,900			$ 9,500	$ 3,900	$ 9,500	$ 7,500
Tax reform, toll charge				100,600
Tax reform, remeasurement	38,600
Repatriation amount	32,800		$ 600
Deferred tax assets realized	52,900				52,900
Valuation allowance	3,800				3,800
Tax reform, benefit recorded					6,700
Valuation allowance	200,280			207,483	200,280	207,483
Operating loss carryforwards	225,152			218,933	225,152	218,933
Deferred tax asset	227,200				227,200
Valuation allowance for net operating loss carryforwards	195,500				195,500
Valuation allowance established against certain other net deferred tax assets	3,000				3,000
Reduction in accrual for interest and penalties	1,100			3,000	1,100	3,000	300
Accrued interest and penalties	3,000			2,800	3,000	2,800	800
Unrecognized tax benefits, including interest	53,900				53,900
Tax benefits credited to Shareholders' equity						100	200
TCJA, provisional income tax expense (benefit), toll charge		$ 8,000				2,000,000
TCJA, remeasurement, income tax expense (benefit)		$ 200
Domestic earnings repatriated	88,800				88,800
Foreign earnings, deferred tax liability	43,800				43,800
Other liabilities [Member]
Income Taxes [Line Items]
Unrecognized tax benefits that would impact effective tax rate	47,300			28,500	47,300	28,500	19,100
Other Current Liabilities [Member]
Income Taxes [Line Items]
Unrecognized tax benefits that would impact effective tax rate	3,600				3,600		9,700
2018 to 2037 [Member]
Income Taxes [Line Items]
Operating loss carryforwards	209,400			212,500	209,400	212,500
Deferred tax assets, operating loss carryforwards, subject to expiration				8,500		8,500
Tax credit carryforwards	17,800			$ 12,500	17,800	$ 12,500
Tax credits established against deferred tax assets	17,800				17,800
Indefinite [Member]
Income Taxes [Line Items]
Operating loss carryforwards	200,900				200,900
Other Liabilities [Member]
Income Taxes [Line Items]
Accrued interest and penalties	1,300				1,300		$ 300
State and Local Jurisdiction [Member]
Income Taxes [Line Items]
Valuation allowance	3,000				3,000
Frutarom Industries Ltd. [Member]
Income Taxes [Line Items]
Foreign earnings, deferred tax liability	$ 45,000				$ 45,000

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Employee and retiree benefits	$ 80,382	$ 87,400
Credit and net operating loss carryforwards	225,152	218,933
Intangible assets	12,489	13,622
Gain on foreign currency translation	0	10,885
Interest limitation	19,380	1,120
Inventory	13,308	4,428
Other, net	18,009	7,103
Gross deferred tax assets	368,720	343,491
Property, plant and equipment, net	(22,511)	(11,745)
Intangible assets	(616,333)	(73,979)
Loss on foreign currency translation	(7,717)	0
Deferred taxes on deemed repatriation	(88,759)	(1,610)
Gross deferred tax liabilities	(735,320)	(87,334)
Valuation allowance	(200,280)	(207,483)
Deferred Tax Liabilities, Net	(566,880)
Total net deferred tax (liabilities)/assets		48,674
Adjustment to foreign net operating loss carryforwards	$ 5,900	$ 58,800

Income Taxes - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance of unrecognized tax benefits at beginning of year	$ 38,162	$ 26,428	$ 24,198
Gross amount of increases in unrecognized tax benefits as a result of positions taken during a prior year	9,751	1,169	1,254
Gross amount of decreases in unrecognized tax benefits as a result of positions taken during a prior year	(5,362)	(268)	(3)
Gross amount of increases in unrecognized tax benefits as a result of positions taken during the current year	14,677	13,191	8,131
The amounts of decreases in unrecognized benefits relating to settlements with taxing authorities	(4,550)	0	(6,075)
Reduction in unrecognized tax benefits due to the lapse of applicable statute of limitation	(1,725)	(2,358)	(1,077)
Balance of unrecognized tax benefits at end of year	$ 50,953	$ 38,162	$ 26,428

Net Income Per Share - Reconciliation of Shares Used in Computation of Basic and Diluted Net Income Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net Income
Net income available to IFF common shareholders	$ 337,302	$ 295,665	$ 405,031
Less: Increase in redemption value of redeemable noncontrolling interests in excess of earnings allocated	(2,848)	0	0
Net income available to IFF common shareholders	$ 334,454	$ 295,665	$ 405,031
Shares
Average number of shares outstanding - basic (in shares)	87,551	79,070	79,648
Average number of shares outstanding - diluted (in shares)	88,121	79,370	79,981
Net Income per Share
Net income per share - basic (in dollars per share)	$ 3.81	$ 3.73	$ 5.07
Net income per share - diluted (in dollars per share)	$ 3.79	$ 3.72	$ 5.05
Employee Stock Option And Restricted Stock [Member]
Shares
Adjustment for assumed dilution (in shares)	303	300	333
SPC [Member]
Shares
Adjustment for assumed dilution (in shares)	267	0	0

Net Income Per Share - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended	12 Months Ended
	Oct. 04, 2018	Sep. 17, 2018	Dec. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Difference amount between basic and diluted net income per share (in dollars per share)				$ 0.02	$ 0.01	$ 0.01
Net income				$ 339,781	$ 295,665	$ 405,031
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income				$ 1,000	$ 1,000	$ 1,000
Public Offering [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares issued in transaction (in shares)		12,667,947	14,901,445
Net proceeds from transaction		$ 1,600,000
Frutarom Industries Ltd. [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Business acquisition, equity interest (in shares)	14,900,000
Exchange ratio per share	0.2490
Cumulative percentage ownership after transaction	14.00%

Net Income Per Share - TEU (Details) $ / shares in Units, $ in Millions	Sep. 17, 2018 USD ($) $ / shares shares
Earnings Per Share [Abstract]
Tangible equity units issued \| shares	16,500,000
Tangible equity units proceeds \| $	$ 800.2
Price for basic share (in dollars per share)	$ 0.3134
Price for diluted share (usd per share)	$ 0.3711

Shareholders' Equity - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Nov. 01, 2017	Oct. 31, 2017	Aug. 31, 2015	Dec. 31, 2012
Equity [Abstract]
Dividends declared per share (in dollars per share)	$ 2.84	$ 2.66	$ 2.40
Dividends payable	$ 77,779,000	$ 54,420,000	$ 50,700,000
Dividend per share declared (in dollars per share)	$ 0.73	$ 0.69	$ 0.64
Shares authorized under repurchase program							$ 250,000,000
Stock repurchase program, value	$ 300,000,000.0
Additional authorized amount				$ 250,000,000		$ 250,000,000
Remaining authorized amended repurchase amount					$ 56,100,000
Remaining authorized repurchase amount	$ 279,700,000
Remaining number of shares authorized to be repurchase	2,114,998
Stock repurchased during period as percentage of shares outstanding	1.90%

Stock Compensation Plans - Additional Information (Detail) - shares	1 Months Ended			12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2016	Dec. 31, 2018
2010 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance (in shares)				1,500,000
Shares remaining available for issuance (in shares)				1,552,694
Shares subject to outstanding awards (in shares)				837,196
Shares remaining available for future awards (in shares)				1,927,617
Long-Term Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, in years				3 years
Target payout percentage, cash				50.00%
Target payout percentage, stock				50.00%
2008-2010 Cycle (Cycle VIII) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target dollar value of the award converted to a number of notional shares				50.00%
2010-2012 Cycle [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation, shares (in shares)		46,091	47,267
RSU's [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period, in years				3 years
Each twelve-month period [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage				25.00%
Full three-year period [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage				25.00%
Forecast [Member] \| 2014-2016 Cycle [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation, shares (in shares)	25,394

Shareholders' Equity - Stock Repurchase Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Equity [Abstract]
Shares Repurchased (in shares)	108,109	459,264	1,058,018
Weighted- Average Price per Share (in dollars per share)	$ 143.15	$ 126.44	$ 124.01
Dollar Amount Repurchased	$ 15,475	$ 58,069	$ 127,443

Stock Compensation Plans - Stock-Based Compensation Expense Included in Consolidated Statement of Income and Comprehensive Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	$ 31,918	$ 32,581	$ 28,471
Less tax benefit	(6,556)	(5,659)	(7,375)
Total stock-based compensation, net of tax	25,362	26,922	21,096
Equity-based awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	29,401	26,567	24,587
Liability-based awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	$ 2,517	$ 6,014	$ 3,884

Stock Compensation Plans - SSAR's and Stock Option - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of options/SSAR's exercised	$ 0.1	$ 1.2	$ 1.3
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, granted	0	0	0
SSAR's [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contractual term, in years	7 years
Shares granted (in shares)		0	0
Unrecognized compensation cost related to non-vested stock options and SSAR, RSU, PRS and Cash RSU awards granted	$ 0.2
Unrecognized compensation cost related to non-vested stock options and SSAR, RSU, PRS and Cash RSU awards granted, weighted average period, in years	2 years 3 months 18 days
SSAR's and Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average exercise price, exercisable (USD per share)	$ 64.96	$ 60.39	$ 58.24

Stock Compensation Plans - SSAR's and Stock Option Activity (Detail) - SSAR's and Stock Options [Member] - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Shares Subject to SSARs/Options
Beginning balance (in shares)	4
Granted (in shares)	9
Exercised (in shares)	(1)
Cancelled (in shares)	0
Ending balance (in shares)	12	4
Weighted Average Exercise Price
Beginning balance (in dollars per share)	$ 64.25
Granted (in dollars per share)	140.10
Exercised (in dollars per share)	60.39
Cancelled (in dollars per share)	0.00
Ending balance (in dollars per share)	$ 117.21	$ 64.25
SSARs/ Options Exercisable (in shares)	4	4

Stock Compensation Plans - SSAR's and Stock Option Outstanding (Detail) - SSAR's and Stock Options [Member] $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number Outstanding (in shares) \| shares	12
Weighted Average Exercise Price (in dollars per share)	$ 117.21
Aggregate Intrinsic Value \| $	$ 177
$51 - $60 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Price Range, lower limit	$ 51
Price Range, upper limit	$ 60
Number Outstanding (in shares) \| shares	3
Weighted Average Remaining Contractual Life (in years)	4 months 3 days
Weighted Average Exercise Price (in dollars per share)	$ 60.39
Over $65 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Price Range, upper limit	$ 65
Number Outstanding (in shares) \| shares	9
Weighted Average Remaining Contractual Life (in years)	6 years 3 months 1 day
Weighted Average Exercise Price (in dollars per share)	$ 139.36

Stock Compensation Plans - SSAR's and Stock Option Exercisable (Detail) - SSAR's and Stock Options [Member] $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number Exercisable (in shares) \| shares	4
Weighted Average Exercise Price (in dollars per share)	$ 64.96
Aggregate Intrinsic Value \| $	$ 242
$51 - $60 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercisable options, lower range limit	$ 51
Exercisable options, upper range limit	$ 60
Number Exercisable (in shares) \| shares	3
Weighted Average Remaining Contractual Life (in years)	4 months 3 days
Weighted Average Exercise Price (in dollars per share)	$ 60.39
Over $65 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercisable options, upper range limit	$ 65
Number Exercisable (in shares) \| shares	1
Weighted Average Remaining Contractual Life (in years)	3 years 4 months 8 days
Weighted Average Exercise Price (in dollars per share)	$ 118.10

Stock Compensation Plans - Restricted Stock Units Plan - Additional Information (Detail) - RSU's [Member] $ in Millions	12 Months Ended
	Dec. 31, 2018 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	100.00%
Vesting period, in years	3 years
Total fair value of vested	$ 18.7
Unrecognized compensation cost related to non-vested stock options and SSAR, RSU, PRS and Cash RSU awards granted	$ 24.7
Unrecognized compensation cost related to non-vested stock options and SSAR, RSU, PRS and Cash RSU awards granted, weighted average period, in years	1 year 9 months 18 days

Stock Compensation Plans - RSU, PRS and Cash RSU Activity (Detail) shares in Thousands	12 Months Ended
	Dec. 31, 2018 $ / shares shares
RSU's [Member]
Number of Shares
Beginning balance (in shares) \| shares	441
Granted (in shares) \| shares	169
Vested (in shares) \| shares	(145)
Forfeited (in shares) \| shares	(17)
Ending balance (in shares) \| shares	448
Weighted Average Grant Date Fair Value Per Share
Beginning balance (in dollars per share) \| $ / shares	$ 119.45
Granted (in dollars per share) \| $ / shares	132.70
Vested (in dollars per share) \| $ / shares	113.89
Forfeited (in dollars per share) \| $ / shares	125.30
Ending balance (in dollars per share) \| $ / shares	$ 125.99
Restricted Stock [Member]
Number of Shares
Beginning balance (in shares) \| shares	159
Granted (in shares) \| shares	67
Vested (in shares) \| shares	(61)
Forfeited (in shares) \| shares	(3)
Ending balance (in shares) \| shares	162
Weighted Average Grant Date Fair Value Per Share
Beginning balance (in dollars per share) \| $ / shares	$ 124.15
Granted (in dollars per share) \| $ / shares	140.10
Vested (in dollars per share) \| $ / shares	118.05
Forfeited (in dollars per share) \| $ / shares	129.77
Ending balance (in dollars per share) \| $ / shares	$ 132.96
Cash RSU's [Member]
Number of Shares
Beginning balance (in shares) \| shares	95
Granted (in shares) \| shares	31
Vested (in shares) \| shares	(30)
Forfeited (in shares) \| shares	(4)
Ending balance (in shares) \| shares	92
Weighted Average Grant Date Fair Value Per Share
Beginning balance (in dollars per share) \| $ / shares	$ 152.61
Granted (in dollars per share) \| $ / shares	132.23
Vested (in dollars per share) \| $ / shares	125.38
Forfeited (in dollars per share) \| $ / shares	137.83
Ending balance (in dollars per share) \| $ / shares	$ 132.23

Stock Compensation Plans - Purchased Restricted Stock Plan - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
PRSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issued Shares (in shares)	66,674	41,801	58,629
Aggregate Purchase Price	$ 9.3	$ 5.8	$ 7.0
Total fair value of vested	$ 18.7
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Covered Shares (in shares)	33,337	20,901	29,315
Total fair value of vested	$ 8.3
Unrecognized compensation cost related to non-vested stock options and SSAR, RSU, PRS and Cash RSU awards granted	$ 10.2
Unrecognized compensation cost related to non-vested stock options and SSAR, RSU, PRS and Cash RSU awards granted, weighted average period, in years	1 year 10 months 10 days

Stock Compensation Plans - Liability Awards - Additional Information (Detail) - Cash RSU's [Member] $ in Millions	12 Months Ended
	Dec. 31, 2018 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage granted in cash to eligible employees	100.00%
Vesting percentage	100.00%
Vesting period, in years	3 years
Total fair value of vested	$ 3.8
Unrecognized compensation cost related to non-vested stock options and SSAR, RSU, PRS and Cash RSU awards granted	$ 5.3
Unrecognized compensation cost related to non-vested stock options and SSAR, RSU, PRS and Cash RSU awards granted, weighted average period, in years	1 year 9 months 18 days

Segment Information - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($) segment category Customer	Dec. 31, 2017 USD ($) Customer	Dec. 31, 2016 USD ($) Customer
Segment Reporting Information [Line Items]
Number of segments \| segment	3
Number of fragrance categories \| category	2
Number of customers that accounted for more than 10% of consolidated net sales \| Customer	0	1	1
Property, plant and equipment	$ 1,241,152	$ 880,580
Concentration risk threshold	10.00%
U.S Plans [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment	$ 315,300	219,100
Netherlands [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment	104,000	113,700
Singapore [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment	74,000	77,900
China [Member]
Segment Reporting Information [Line Items]
Property, plant and equipment	$ 178,600	135,800
Non-US [Member]
Segment Reporting Information [Line Items]
Concentration risk threshold	6.00%
Customer Concentration Risk [Member]
Segment Reporting Information [Line Items]
Net sales	$ 356,800	358,500	$ 364,800
Geographic Concentration Risk \| U.S Plans [Member]
Segment Reporting Information [Line Items]
Net sales	952,600	864,100	735,300
Geographic Concentration Risk \| All foreign countries [Member]
Segment Reporting Information [Line Items]
Net sales	$ 3,000,000	$ 2,500,000	$ 2,400,000

Segment Information - Reportable Segment Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Net sales	$ 3,977,539	$ 3,398,719	$ 3,116,350
Segment assets	12,889,395	4,598,926
Operating profit	583,882	552,630	552,955
Legal Charges/Credits, net	0	56,000	0
Restructuring and Other Charges, net	(5,079)	(19,711)	1,042
Gain on Sale of Assets	1,177	184	10,836
UK Pension Settlement Charges	8,000
Interest expense	(132,558)	(65,363)	(52,989)
Loss on extinguishment of debt	(38,810)	0	0
Other income (expense), net	35,243	49,778	23,751
Income before taxes	447,757	537,045	523,717
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Operational Improvement Initiatives	(2,169)	(1,802)	(2,402)
Acquisition Related Costs	1,289	(20,389)	(12,195)
Integration Related Costs	(7,188)	(4,179)	0
Legal Charges/Credits, net	0	(1,000)	(48,518)
Tax assessment	0	(5,331)	0
Restructuring and Other Charges, net	(4,086)	(19,711)	(322)
Gain on Sale of Assets	1,177	184	7,818
FDA Mandated Product Recall	0	(2,769)	0
UK Pension Settlement Charges	$ (89,632)	$ 0	$ 0
Operating Segments [Member]
Segment Reporting Information [Line Items]
Profit margin	14.70%	16.30%	17.70%
Operating Segments [Member] \| Flavors [Member]
Segment Reporting Information [Line Items]
Net sales	$ 1,737,349	$ 1,632,166	$ 1,496,525
Segment assets	2,024,573	1,929,005
Operating profit	$ 395,190	$ 360,483	$ 330,221
Profit margin	22.70%	22.10%	22.10%
Operating Segments [Member] \| Fragrances [Member]
Segment Reporting Information [Line Items]
Net sales	$ 1,880,630	$ 1,766,553	$ 1,619,825
Segment assets	2,340,131	2,284,309
Operating profit	$ 329,548	$ 318,954	$ 326,705
Profit margin	17.50%	18.10%	20.20%
Operating Segments [Member] \| Frutarom Industries Ltd. [Member]
Segment Reporting Information [Line Items]
Net sales	$ 359,560	$ 0	$ 0
Segment assets	7,961,538	0
Operating profit	$ 27,358	$ 0	$ 0
Profit margin	7.60%	0.00%	0.00%
Global [Member]
Segment Reporting Information [Line Items]
Segment assets	$ 563,153	$ 385,612
Operating profit	(74,730)	(60,810)	$ (48,352)
Frutarom Industries Ltd. [Member]
Segment Reporting Information [Line Items]
Acquisition Related Costs	(156,700)
Loss on extinguishment of debt	3,900
Amortization	23,500
Debt related commitment fees and debt issuance costs	39,400
Expected make-whole payments for early debt payoff	34,900
Realized gain on foreign currency derivative	12,500
Transaction costs	66,000
Acquisition-related Costs [Member]
Segment Reporting Information [Line Items]
Operating profit	$ 7,125	$ (11,000)	$ 0

Segment Information - Capital Expenditure and Depreciation and Amortization by Segment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Capital Expenditures	$ 170,094	$ 128,973	$ 126,412
Depreciation and amortization	173,792	117,967	102,469
Operating Segments [Member] \| Flavors [Member]
Segment Reporting Information [Line Items]
Capital Expenditures	70,028	68,937	47,064
Depreciation and amortization	72,474	53,534	47,705
Operating Segments [Member] \| Fragrances [Member]
Segment Reporting Information [Line Items]
Capital Expenditures	82,206	53,089	73,345
Depreciation and amortization	85,078	59,951	50,724
Operating Segments [Member] \| Frutarom Industries Ltd. [Member]
Segment Reporting Information [Line Items]
Capital Expenditures	12,878	0	0
Depreciation and amortization	8,738	0	0
Unallocated assets [Member]
Segment Reporting Information [Line Items]
Capital Expenditures	4,982	6,947	6,003
Depreciation and amortization	$ 7,502	$ 4,482	$ 4,040

Segment Information - Net Sales by Geographic Area (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Net sales	$ 3,977,539	$ 3,398,719	$ 3,116,350
Europe, Africa and Middle East [Member]
Segment Reporting Information [Line Items]
Net sales	1,396,316	1,065,596	964,931
Greater Asia [Member]
Segment Reporting Information [Line Items]
Net sales	991,015	903,546	880,040
North America [Member]
Segment Reporting Information [Line Items]
Net sales	1,010,126	901,821	769,081
Latin America [Member]
Segment Reporting Information [Line Items]
Net sales	$ 580,082	$ 527,756	$ 502,298

Employee Benefits - Additional Information (Detail)	12 Months Ended
Employee Benefits - Additional Information (Detail)	Dec. 31, 2018 USD ($) retirement_plan	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Percentage of matching contribution if compensation percentage below low range	100.00%
Matching participant's contribution, percentage on compensation	4.00%
Percentage of matching contribution if compensation percentage between high range and low range	75.00%
Matching participant's contribution, percentage on compensation, range low	4.00%
Matching participant's contribution, percentage on compensation, range high	8.00%
Percentage of employees eligible to accrue benefits under the defined plan	50.00%
Matching participant's contribution, average percentage on compensation	6.00%
Retirement liabilities	$ 227,172,000	$ 228,936,000
Capital in excess of par value related to Deferred Compensation Plan	22,200,000	22,500,000
Total cash surrender value of life insurance contracts	43,179,000	45,216,000
Pension cost (reversal of cost)	(8,000,000)
1% increase in accumulated postretirement benefit obligation	300,000
1% increase in postretirement expense	100,000
1% decrease in accumulated postretirement benefit obligation	300,000
1% decrease in postretirement expense	100,000
Deferred Compensation Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Retirement liabilities	43,600,000	43,000,000
U.K. Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension cost (reversal of cost)	2,800,000
Pension Plan [Member] \| U.S Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation	562,043,000	602,783,000	$ 577,332,000
Retirement liabilities	46,519,000	49,981,000
Contribution to the plans	3,524,000	$ 5,123,000
Pension Plan [Member] \| U.S Plans [Member] \| Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target percentage of investment in equity securities		20.00%
Pension Plan [Member] \| U.S Plans [Member] \| Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target percentage of investment in equity securities		80.00%
Pension Plan [Member] \| U.S Plans [Member] \| Qualified Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Contribution to the plans	0
Pension Plan [Member] \| U.S Plans [Member] \| Nonqualified Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Contribution to the plans	3,500,000
Pension Plan [Member] \| Non-U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation	957,935,000	$ 973,061,000	895,566,000
Retirement liabilities	114,705,000	80,694,000
Contribution to the plans	$ 18,238,000	36,645,000
Pension Plan [Member] \| Non-U.S. Plans [Member] \| Alternative and other investments [Member] \| Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target percentage of investment in equity securities	5.00%
Pension Plan [Member] \| Non-U.S. Plans [Member] \| Alternative and other investments [Member] \| Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target percentage of investment in equity securities	10.00%
Pension Plan [Member] \| Non-U.S. Plans [Member] \| Real Estate [Member] \| Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target percentage of investment in equity securities	5.00%
Pension Plan [Member] \| Non-U.S. Plans [Member] \| Real Estate [Member] \| Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target percentage of investment in equity securities	20.00%
Pension Plan [Member] \| Non-U.S. Plans [Member] \| Equity Securities [Member] \| Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target percentage of investment in equity securities	15.00%
Pension Plan [Member] \| Non-U.S. Plans [Member] \| Equity Securities [Member] \| Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target percentage of investment in equity securities	40.00%
Pension Plan [Member] \| Non-U.S. Plans [Member] \| Fixed Income Securities [Member] \| Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target percentage of investment in equity securities	40.00%
Pension Plan [Member] \| Non-U.S. Plans [Member] \| Fixed Income Securities [Member] \| Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target percentage of investment in equity securities	70.00%
Postretirement Benefit Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation	$ 59,625,000	$ 82,714,000	$ 79,845,000
Contribution to the plans	$ 5,200,000
Frutarom Industries Ltd. [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of retirement plans acquired \| retirement_plan	8
Frutarom Industries Ltd. [Member] \| Pension Plan [Member] \| U.S Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation	$ 2,100,000
Frutarom Industries Ltd. [Member] \| Pension Plan [Member] \| Non-U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation	$ 19,500,000

Employee Benefits - Plan Assets and Benefit Obligations of Defined Benefit Pension Plans (Detail) - Pension Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
U.S Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost for benefits earned	$ 1,971	$ 2,175	$ 2,497
Interest cost on projected benefit obligation	19,393	20,075	24,096
Expected return on plan assets	(30,994)	(35,577)	(33,988)
Net amortization of deferrals	6,592	5,424	5,821
Settlements and curtailments	0	0	0
Net periodic benefit cost	(3,038)	(7,903)	(1,574)
Defined contribution and other retirement plans	10,527	8,604	8,404
Total expense	7,489	701	6,830
Net actuarial loss (gain)	21,050	(12,145)
Recognized actuarial loss	(6,549)	(5,383)
Prior service cost	0	93
Recognized prior service (cost) credit	(43)	(41)
Currency translation adjustment	0	0
Total recognized in OCI (before tax effects)	14,458	(17,476)
Non-U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost for benefits earned	18,738	18,652	15,210
Interest cost on projected benefit obligation	17,704	17,116	24,413
Expected return on plan assets	(50,546)	(50,626)	(45,865)
Net amortization of deferrals	11,798	14,403	12,802
Settlements and curtailments	0	2,746	0
Net periodic benefit cost	(2,306)	2,291	6,560
Defined contribution and other retirement plans	6,859	5,681	6,304
Total expense	4,553	7,972	$ 12,864
Net actuarial loss (gain)	11,937	(20,557)
Recognized actuarial loss	(12,590)	(17,895)
Prior service cost	2,776	0
Recognized prior service (cost) credit	792	747
Currency translation adjustment	(16,978)	36,722
Total recognized in OCI (before tax effects)	$ (14,063)	$ (983)

Employee Benefits - Components of Net Periodic Benefit Cost and Changes in Plan Assets and Benefit Obligations Recognized in OCI (Detail) - Postretirement Benefit Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Service cost for benefits earned	$ 755	$ 718	$ 852
Interest cost on projected benefit obligation	2,460	2,710	3,326
Net amortization of deferrals	(5,497)	(4,913)	(5,088)
Net periodic benefit cost	(2,282)	(1,485)	$ (910)
Net actuarial loss (gain)	(6,677)	2,895
Recognized actuarial loss	(1,506)	(1,421)
Prior service credit	14,862	0
Recognized prior service credit	7,003	6,334
Total recognized in OCI (before tax effects)	$ (16,042)	$ 7,808

Employee Benefits - Amounts Expected to be Recognized in Net Periodic Cost (Detail) $ in Thousands	Dec. 31, 2018 USD ($)
Postretirement Benefit Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Actuarial loss recognition	$ 1,274
Prior service cost (credit) recognition	(6,051)
U.S Plans [Member] \| Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Actuarial loss recognition	5,060
Prior service cost (credit) recognition	43
Non-U.S. Plans [Member] \| Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Actuarial loss recognition	12,336
Prior service cost (credit) recognition	$ (647)

Employee Benefits - Weighted-Average Actuarial Assumption Used to Determine Expense (Detail) - Pension Plan [Member]	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
U.S Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.69%	4.19%	4.20%
Expected return on plan assets	6.20%	7.30%	7.30%
Rate of compensation increase	3.25%	3.25%	3.25%
Non-U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.15%	2.14%	3.03%
Expected return on plan assets	5.19%	5.95%	6.40%
Rate of compensation increase	1.98%	1.97%	1.98%

Employee Benefits - Changes in Postretirement Benefit Obligation and Plan Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Postretirement Benefit Plan [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year	$ 82,714	$ 79,845
Service cost for benefits earned	755	718	$ 852
Interest cost on projected benefit obligation	2,460	2,710	3,326
Actuarial (gain) loss	(6,677)	2,895
Plan amendments	(14,862)	0
Adjustments for expense/tax contained in service cost	0	0
Plan participants’ contributions	435	457
Benefits paid	(5,200)	(3,911)
Curtailments / settlements	0	0
Translation adjustments	0	0
Acquisitions/Transferred Liabilities	0	0
Other	0	0
Benefit obligation at end of year	59,625	82,714	79,845
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Employer contributions	5,200
U.S Plans [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at end of year	532,381
U.S Plans [Member] \| Pension Plan [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year	602,783	577,332
Service cost for benefits earned	1,971	2,175	2,497
Interest cost on projected benefit obligation	19,393	20,075	24,096
Actuarial (gain) loss	(33,284)	33,808
Plan amendments	0	93
Adjustments for expense/tax contained in service cost	0	0
Plan participants’ contributions	0	0
Benefits paid	(32,093)	(30,700)
Curtailments / settlements	0	0
Translation adjustments	0	0
Acquisitions/Transferred Liabilities	3,273	0
Other	0	0
Benefit obligation at end of year	562,043	602,783	577,332
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	581,917	525,964
Actual return on plan assets	(23,339)	81,530
Employer contributions	3,524	5,123
Plan participants’ contributions	0	0
Benefits paid	(32,093)	(30,700)
Settlements	0	0
Translation adjustments	0	0
Acquisitions/Transferred Assets	2,372	0
Other	0	0
Fair value of plan assets at end of year	532,381	581,917	525,964
Funded status at end of year	(29,662)	(20,866)
Non-U.S. Plans [Member] \| Pension Plan [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year	973,061	895,566
Service cost for benefits earned	18,738	18,652	15,210
Interest cost on projected benefit obligation	17,704	17,116	24,413
Actuarial (gain) loss	(29,433)	(28,552)
Plan amendments	2,776	0
Adjustments for expense/tax contained in service cost	(1,290)	(1,287)
Plan participants’ contributions	2,047	1,700
Benefits paid	(33,862)	(28,943)
Curtailments / settlements	(2,751)	(6,787)
Translation adjustments	(49,027)	105,596
Acquisitions/Transferred Liabilities	48,356	0
Other	11,616	0
Benefit obligation at end of year	957,935	973,061	895,566
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	929,810	792,138
Actual return on plan assets	6,699	39,423
Employer contributions	18,238	36,645
Plan participants’ contributions	2,047	1,700
Benefits paid	(33,862)	(28,943)
Settlements	(1,564)	(6,787)
Translation adjustments	(47,247)	95,634
Acquisitions/Transferred Assets	21,672	0
Other	989	0
Fair value of plan assets at end of year	896,782	929,810	$ 792,138
Funded status at end of year	$ (61,153)	$ (43,251)

Employee Benefits - Amounts Recognized in Balance Sheet (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Other assets	$ 75,158	$ 70,792
Retirement liabilities	(227,172)	(228,936)
U.S Plans [Member] \| Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Other assets	20,949	33,164
Other current liabilities	(4,092)	(4,049)
Retirement liabilities	(46,519)	(49,981)
Net amount recognized	(29,662)	(20,866)
Non-U.S. Plans [Member] \| Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Other assets	54,434	38,095
Other current liabilities	(882)	(652)
Retirement liabilities	(114,705)	(80,694)
Net amount recognized	$ (61,153)	$ (43,251)

Employee Benefits - Amounts Recognized in Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Postretirement Benefit Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	$ 12,627	$ 20,810
Prior service cost (credit)	(33,189)	(25,330)
Total AOCI (before tax effects)	(20,562)	(4,520)
U.S Plans [Member] \| Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	151,389	136,888
Prior service cost (credit)	151	194
Total AOCI (before tax effects)	151,540	137,082
Non-U.S. Plans [Member] \| Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	321,144	338,916
Prior service cost (credit)	(3,926)	(7,635)
Total AOCI (before tax effects)	$ 317,218	$ 331,281

Employee Benefits - Accumulated Benefit Obligation (Detail) - Pension Plan [Member] - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
U.S Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Accumulated Benefit Obligation — end of year	$ 562,043	$ 600,634
Projected benefit obligation	52,714	54,030
Accumulated benefit obligation	52,690	54,030
Fair value of plan assets	$ 2,103	$ 0
Discount rate	4.31%	3.68%
Rate of compensation increase	3.25%	3.25%
Non-U.S. Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Accumulated Benefit Obligation — end of year	$ 957,935	$ 941,158
Projected benefit obligation	582,466	542,843
Accumulated benefit obligation	548,116	510,939
Fair value of plan assets	$ 466,878	$ 461,496
Discount rate	2.22%	2.15%
Rate of compensation increase	1.91%	1.98%

Employee Benefits - Estimated Future Benefit Payments (Detail) $ in Thousands	Dec. 31, 2018 USD ($)
Postretirement Benefit Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
2018	$ 3,881
2019	3,940
2020	4,014
2021	4,081
2022	4,085
2024 - 2028	20,449
Required Company Contributions in Following Year (2019)	3,882
U.S Plans [Member] \| Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
2018	35,742
2019	36,918
2020	37,710
2021	38,823
2022	38,449
2024 - 2028	190,164
Required Company Contributions in Following Year (2019)	4,207
Non-U.S. Plans [Member] \| Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
2018	26,342
2019	25,991
2020	27,270
2021	27,589
2022	28,843
2024 - 2028	165,681
Required Company Contributions in Following Year (2019)	$ 19,258

Employee Benefits - Percentage of Assets Invested (Detail) - Pension Plan [Member]	Dec. 31, 2018	Dec. 31, 2017
U.S Plans [Member] \| Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of assets invested	1.00%	1.00%
U.S Plans [Member] \| Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of assets invested	25.00%	28.00%
U.S Plans [Member] \| Fixed income [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of assets invested	74.00%	71.00%
U.S Plans [Member] \| Real Estate [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of assets invested	0.00%	0.00%
U.S Plans [Member] \| Alternative and other investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of assets invested	0.00%	0.00%
Non-U.S. Plans [Member] \| Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of assets invested	3.00%	4.00%
Non-U.S. Plans [Member] \| Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of assets invested	12.00%	27.00%
Non-U.S. Plans [Member] \| Fixed income [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of assets invested	36.00%	40.00%
Non-U.S. Plans [Member] \| Real Estate [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of assets invested	8.00%	4.00%
Non-U.S. Plans [Member] \| Alternative and other investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of assets invested	41.00%	25.00%

Employee Benefits - Reconciliation of Level 3 Non-U.S. Plan Assets Held (Detail) - Pension Plan [Member] - Non-U.S. Plans [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	$ 929,810	$ 792,138
Actual return on plan assets	6,699	39,423
Fair value of plan assets at end of year	896,782	929,810
Level 3 [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	72,758
Actual return on plan assets	(3,532)
Purchases, sales and settlements	25,791
Fair value of plan assets at end of year	95,017	72,758
Real Estate [Member] \| Level 3 [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	39,165
Actual return on plan assets	(2,155)
Purchases, sales and settlements	32,094
Fair value of plan assets at end of year	69,104	39,165
Hedge Funds [Member] \| Level 3 [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	33,593
Actual return on plan assets	(1,377)
Purchases, sales and settlements	(6,303)
Fair value of plan assets at end of year	$ 25,913	$ 33,593

Employee Benefits - Weighted Average Assumptions Used to Determine Postretirement Benefit Expense and Obligation (Detail)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Liability [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.30%	3.70%
Current medical cost trend rate	7.50%	7.75%
Ultimate medical cost trend rate	4.75%	4.75%
Medical cost trend rate decreases to ultimate rate in year	2030	2030
Expense [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.70%	4.20%
Current medical cost trend rate	7.75%	8.00%
Ultimate medical cost trend rate	4.75%	4.75%
Medical cost trend rate decreases to ultimate rate in year	2030	2030

Employee Benefits - Sensitivity of Disclosures to Changes in Selected Assumptions (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($)
Postretirement Benefit Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
25 BP Decrease in Discount Rate, Change in ABO	$ 1,638
25 BP Decrease in Discount Rate, Change in pension expense	44
U.S. Pension Plans [Member] \| Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
25 BP Decrease in Discount Rate, Change in PBO	14,603
25 BP Decrease in Discount Rate, Change in ABO	14,524
25 BP Decrease in Discount Rate, Change in pension expense	(102)
25 BP Decrease in Long-Term Rate of Return, Change in pension expense	1,248
Non-U.S. Plans [Member] \| Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
25 BP Decrease in Discount Rate, Change in PBO	46,475
25 BP Decrease in Discount Rate, Change in ABO	44,628
25 BP Decrease in Discount Rate, Change in pension expense	2,710
25 BP Decrease in Long-Term Rate of Return, Change in pension expense	$ 1,911

Financial Instruments - Carrying Amount and Estimated Fair Value of Financial Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 26, 2018	Dec. 31, 2017
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 634,897		$ 368,046
Credit facilities and bank overdrafts	4,695		7,993
Derivative assets	0		0
Derivative liabilities	0		0
Carrying Amount [Member] \| Senior Notes - 2007 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	0		249,765
Carrying Amount [Member] \| Senior Notes - 2020 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	298,499		0
Carrying Amount [Member] \| Senior Notes, Euro Notes, 2021 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	337,704		0
Carrying Amount [Member] \| Senior Notes - 2023 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	298,698		298,670
Carrying Amount [Member] \| Senior Notes, Euro Notes, 2024 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	564,034		589,848
Carrying Amount [Member] \| Senior Notes, Euro Notes, 2026 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	899,886		0
Carrying Amount [Member] \| Senior Notes - 2028 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	396,377	$ 400,000	0
Carrying Amount [Member] \| Senior notes - 2047 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	493,151		492,819
Carrying Amount [Member] \| Senior Notes - 2048 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	785,788	$ 800,000	0
Carrying Amount [Member] \| Term Loan Credit Agreement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	349,163		0
Carrying Amount [Member] \| Amortizing Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	125,007		0
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	634,897		368,046
Credit facilities and bank overdrafts	4,695		7,993
Derivative assets	7,229		5,137
Derivative liabilities	6,907		13,555
Fair Value [Member] \| Senior Notes - 2007 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	0		293,232
Fair Value [Member] \| Senior Notes - 2020 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	300,356		0
Fair Value [Member] \| Senior Notes, Euro Notes, 2021 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	341,094		0
Fair Value [Member] \| Senior Notes - 2023 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	293,017		304,219
Fair Value [Member] \| Senior Notes, Euro Notes, 2024 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	584,129		627,782
Fair Value [Member] \| Senior Notes, Euro Notes, 2026 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	909,439		0
Fair Value [Member] \| Senior Notes - 2028 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	401,231		0
Fair Value [Member] \| Senior notes - 2047 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	446,725		525,906
Fair Value [Member] \| Senior Notes - 2048 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	783,925		0
Fair Value [Member] \| Term Loan Credit Agreement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	350,000
Fair Value [Member] \| Amortizing Note [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	$ 127,879		$ 0

Financial Instruments - Derivative Instruments Notional Amount Outstanding (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Forward Currency Contracts [Member]
Schedule Of Information By Major Category Of Credit Derivatives Contracts [Line Items]
Derivative instruments outstanding	$ 585,581	$ 896,947
Currency Swap [Member]
Schedule Of Information By Major Category Of Credit Derivatives Contracts [Line Items]
Derivative instruments outstanding	1,087	0
Interest Rate Swap [Member]
Schedule Of Information By Major Category Of Credit Derivatives Contracts [Line Items]
Derivative instruments outstanding	$ 0	$ 150,000

Financial Instruments - Derivative Instruments Measured at Fair Value (Detail) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Total Fair Value, Derivative Assets	$ 7,229
Total Fair Value, Derivative Liabilities		$ 13,555
Interest Rate Swap [Member]
Derivatives, Fair Value [Line Items]
Total Fair Value, Derivative Liabilities		1,369
Foreign Currency Contracts [Member]
Derivatives, Fair Value [Line Items]
Total Fair Value, Derivative Assets	6,142	5,137
Total Fair Value, Derivative Liabilities	6,907	12,186
Currency Swap [Member]
Derivatives, Fair Value [Line Items]
Total Fair Value, Derivative Assets	1,087
Fair Value of Derivatives Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total Fair Value, Derivative Assets	5,209
Total Fair Value, Derivative Liabilities		9,211
Fair Value of Derivatives Designated as Hedging Instrument [Member] \| Interest Rate Swap [Member]
Derivatives, Fair Value [Line Items]
Total Fair Value, Derivative Liabilities		1,369
Fair Value of Derivatives Designated as Hedging Instrument [Member] \| Foreign Currency Contracts [Member]
Derivatives, Fair Value [Line Items]
Total Fair Value, Derivative Assets	4,122	1,159
Total Fair Value, Derivative Liabilities	205	7,842
Fair Value of Derivatives Designated as Hedging Instrument [Member] \| Currency Swap [Member]
Derivatives, Fair Value [Line Items]
Total Fair Value, Derivative Assets	1,087
Fair Value of Derivatives Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total Fair Value, Derivative Assets	2,020
Total Fair Value, Derivative Liabilities		4,344
Fair Value of Derivatives Not Designated as Hedging Instrument [Member] \| Interest Rate Swap [Member]
Derivatives, Fair Value [Line Items]
Total Fair Value, Derivative Liabilities		0
Fair Value of Derivatives Not Designated as Hedging Instrument [Member] \| Foreign Currency Contracts [Member]
Derivatives, Fair Value [Line Items]
Total Fair Value, Derivative Assets	2,020	3,978
Total Fair Value, Derivative Liabilities	6,702	$ 4,344
Fair Value of Derivatives Not Designated as Hedging Instrument [Member] \| Currency Swap [Member]
Derivatives, Fair Value [Line Items]
Total Fair Value, Derivative Assets	$ 0

Financial Instruments - Derivative Instruments Which Were Not Designated as Hedging Instruments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Foreign Currency Contracts [Member] \| Other (income) expense, net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) on derivative	$ 1,999	$ (10,057)
Fair Value of Derivatives Not Designated as Hedging Instrument [Member] \| Foreign Currency Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) on derivative	14,505	(10,057)
Deal Contingent Swaps [Member] \| Fair Value of Derivatives Not Designated as Hedging Instrument [Member] \| Foreign Currency Contracts [Member] \| Other Income Expense Net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) on derivative	12,154	0
Deal Contingent Swaps [Member] \| Fair Value of Derivatives Not Designated as Hedging Instrument [Member] \| Interest Rate Swap [Member] \| Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) on derivative	$ 352	$ 0

Financial Instruments - Derivative Instruments Designated as Cash Flow and Net Investment Hedging Instruments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion)	$ 65,495	$ (69,843)
Interest expense	132,558	65,363	$ 52,989
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	(7,067)	3,154
Forward Currency Contracts [Member] \| Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion)	14,220	(14,121)
Forward Currency Contracts [Member] \| Net Investment Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion)	(518)	(4,239)
Forward Currency Contracts [Member] \| Cost of goods sold [Member] \| Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	(6,203)	3,943
Interest Rate Swap [Member] \| Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion)	864	(3,811)
Interest Rate Swap [Member] \| Interest Expense [Member] \| Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)		(789)
Euro Senior Notes 2016 [Member] \| Net Investment Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion)	20,539	(47,672)
Senior Notes Maturing 2021 through 2026 [Member] \| Net Investment Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion)	30,390	0
(Losses) Gains on Derivatives Qualifying as Hedges \| Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Interest expense	$ 864	$ 789	$ 595

Financial Instruments - Additional Information (Detail) $ in Thousands, € in Millions		3 Months Ended				12 Months Ended
	May 18, 2017 EUR (€)	Mar. 31, 2017 EUR (€) Agreement	Mar. 31, 2017 USD ($) Agreement	Jun. 30, 2013 USD ($)	Mar. 31, 2013 Agreement	Dec. 31, 2018 USD ($) contract	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Derivatives, Fair Value [Line Items]
Number of interest rate swap agreements \| Agreement					3
Loss incurred on termination of interest rate swaps				$ 2,700
Gain on deal contingent derivatives						$ 12,505	$ 0	$ 0
Derivative gains included in AOCI						7,500
Total fair value, derivative assets						$ 7,229
Forward Currency Contracts [Member]
Derivatives, Fair Value [Line Items]
Number of multiple forward currency contracts matured \| contract						4
Derivative instruments outstanding						$ 585,581	896,947
Currency Swap [Member]
Derivatives, Fair Value [Line Items]
Derivative instruments outstanding						1,087	0
Total fair value, derivative assets						1,087
Interest Rate Swap [Member]
Derivatives, Fair Value [Line Items]
Loss incurred on termination of interest rate swaps		€ 2.9	$ 3,200
Gain on deal contingent derivatives \| €	€ 5.3
Number of interest rate derivatives held \| Agreement		2	2
Derivative instruments outstanding						0	150,000
Foreign Currency Contract And Interest Rate Swap [Member]
Derivatives, Fair Value [Line Items]
Derivative instruments outstanding						1,900,000
Fair Value of Derivatives Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Total fair value, derivative assets						2,020
Fair Value of Derivatives Not Designated as Hedging Instrument [Member] \| Currency Swap [Member]
Derivatives, Fair Value [Line Items]
Total fair value, derivative assets						0
Fair Value of Derivatives Not Designated as Hedging Instrument [Member] \| Foreign Currency Contracts [Member]
Derivatives, Fair Value [Line Items]
Amount of gain or (loss) on derivative						14,505	(10,057)
Other Income Expense Net [Member] \| Deal Contingent Swaps [Member] \| Fair Value of Derivatives Not Designated as Hedging Instrument [Member] \| Foreign Currency Contracts [Member]
Derivatives, Fair Value [Line Items]
Amount of gain or (loss) on derivative						12,154	0
Interest Expense [Member] \| Deal Contingent Swaps [Member] \| Fair Value of Derivatives Not Designated as Hedging Instrument [Member] \| Interest Rate Swap [Member]
Derivatives, Fair Value [Line Items]
Amount of gain or (loss) on derivative						$ 352	$ 0

- Schedule of Changes in Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive loss, net of tax	$ 1,684,202
Accumulated other comprehensive loss, net of tax	6,032,951	$ 1,684,202
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive loss, net of tax	(297,416)	(352,025)	$ (297,499)
OCI before reclassifications	(99,580)	66,826	(54,526)
Amounts reclassified from AOCI	0	(12,217)	0
Net current period other comprehensive income (loss)	(99,580)	54,609	(54,526)
Accumulated other comprehensive loss, net of tax	(396,996)	(297,416)	(352,025)
(Losses) Gains on Derivatives Qualifying as Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive loss, net of tax	(10,332)	7,604	9,401
OCI before reclassifications	8,011	(14,782)	2,334
Amounts reclassified from AOCI	7,067	(3,154)	(4,131)
Net current period other comprehensive income (loss)	15,078	(17,936)	(1,797)
Accumulated other comprehensive loss, net of tax	4,746	(10,332)	7,604
Pension and Postretirement Liability Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive loss, net of tax	(329,734)	(335,674)	(325,342)
OCI before reclassifications	9,717	(7,941)	(21,111)
Amounts reclassified from AOCI	10,040	13,881	10,779
Net current period other comprehensive income (loss)	19,757	5,940	(10,332)
Accumulated other comprehensive loss, net of tax	(309,977)	(329,734)	(335,674)
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive loss, net of tax	(637,482)	(680,095)	(613,440)
OCI before reclassifications	(81,852)	44,103	(73,303)
Amounts reclassified from AOCI	17,107	(1,490)	6,648
Net current period other comprehensive income (loss)	(64,745)	42,613	(66,655)
Accumulated other comprehensive loss, net of tax	$ (702,227)	$ (637,482)	$ (680,095)

Accumulated Other Comprehensive Income (Loss) - Reclassifications of Accumulated Other Comprehensive Income to Consolidated Statement of Comprehensive Income (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of goods sold	$ 2,294,832	$ 1,926,256	$ 1,720,787
Interest expense	(132,558)	(65,363)	(52,989)
Tax	(107,976)	(241,380)	(118,686)
(Losses) Gains on Derivatives Qualifying as Hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Tax	886	(563)	(675)
(Losses) Gains on Derivatives Qualifying as Hedges \| Foreign Currency Contracts [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of goods sold	(7,089)	4,506	5,401
(Losses) Gains on Derivatives Qualifying as Hedges \| Interest Rate Swap [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	(864)	(789)	(595)
(Losses) Gains on Derivatives Qualifying as Hedges \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total	(7,067)	3,154	4,131
(Losses) gains on pension and postretirement liability adjustments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Tax	(2,853)	(3,778)	(2,855)
(Losses) gains on pension and postretirement liability adjustments \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total	(10,040)	(13,881)	(10,779)
Prior service cost
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
(Losses) gains on pension and postretirement liability adjustments	7,752	7,040	7,469
Actuarial losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
(Losses) gains on pension and postretirement liability adjustments	$ (20,645)	$ (24,699)	$ (21,103)

Concentrations Of Credit Risk - Additional Information (Detail) - Customer	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Risks and Uncertainties [Abstract]
Number of customers that accounted for more than 10% of consolidated net sales	0	1	1

Commitments and Contingencies - Additional Information (Detail)	3 Months Ended				12 Months Ended
	Dec. 31, 2018 USD ($) Facility	Jun. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2018 USD ($) Facility	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Commitments And Contingencies [Line Items]
Minimum rental payments under non-cancelable operating leases, 2019	$ 49,300,000				$ 49,300,000
Minimum rental payments under non-cancelable operating leases, 2020	42,200,000				42,200,000
Minimum rental payments under non-cancelable operating leases, 2021	36,400,000				36,400,000
Minimum rental payments under non-cancelable operating leases, 2022	32,200,000				32,200,000
Minimum rental payments under non-cancelable operating leases, from 2023 and thereafter	229,600,000				229,600,000
Rental expense					42,400,000	$ 37,800,000	$ 35,400,000
Amount still available for additional borrowings	1,000,000,000				1,000,000,000
Available lines of credit	104,300,000				$ 104,300,000
Duration as potentially responsible party, years					20 years
Number of facilities under Potentially Responsible Party investigation \| Facility					7
Estimated maximum future costs of environmental liabilities for identified sites (less than $5 million)	3,000,000				$ 3,000,000
Property, plant and equipment, gross	2,492,938,000			$ 2,090,755,000	2,492,938,000	2,090,755,000
Bank guarantees and pledged assets to pursue defenses related to other contingencies					28,000,000
Reversal of previously recorded provision		$ (1,000,000)
Product liability accrual period expense					5,000,000
Recovery of litigation charges					0	$ 56,000,000	$ 0
Aggregate amount paid				$ 3,000,000	16,000,000
Amount paid			$ 13,000,000
Reimbursement to supplier for product recall					13,100,000
Minimum [Member]
Commitments And Contingencies [Line Items]
Estimated maximum future costs of environmental liabilities for identified sites (less than $5 million)	0				0
Maximum [Member]
Commitments And Contingencies [Line Items]
Estimated maximum future costs of environmental liabilities for identified sites (less than $5 million)	10,000,000				10,000,000
China [Member]
Commitments And Contingencies [Line Items]
Property, plant and equipment, gross	$ 194,000,000				$ 194,000,000
Number of plants \| Facility	9				9
Number of plants under construction \| Facility	1				1
Guangzhou Flavors Plant [Member] \| Guangzhou, China [Member]
Commitments And Contingencies [Line Items]
Property, plant and equipment, gross	$ 108,000,000				$ 108,000,000
Zhejiang Ingredients Plant [Member] \| Zhejiang, China [Member]
Commitments And Contingencies [Line Items]
Possible compensation payments for relocation	50,000,000				50,000,000
Proceeds from compensation for relocation	15,000,000
Property, plant and equipment, gross	21,000,000				21,000,000
Pledged assets [Member]
Commitments And Contingencies [Line Items]
The amount of pledged assets, principally PP&E to cover income tax and indirect tax assessments					10,500,000
Bank guarantees and standby letters of credit [Member]
Commitments And Contingencies [Line Items]
Bank guarantees and letters of credit outstanding					60,800,000
Bank guarantees [Member]
Commitments And Contingencies [Line Items]
Bank guarantees related to appeals on income tax and indirect tax cases					17,500,000
Damages from Product Defects [Member]
Commitments And Contingencies [Line Items]
Reversal of previously recorded provision	$ (17,500,000)				$ (17,500,000)
ZoomEssence [Member]
Commitments And Contingencies [Line Items]
Payments for legal settlements		$ 56,000,000

Schedule II - Valuation and Qualifying Accounts and Reserves (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Movement in Valuation Allowances and Reserves [Roll Forward]
Adjustment to foreign net operating loss carryforwards	$ 5,900	$ 58,800
Allowance for doubtful accounts [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	13,392	9,995	$ 8,229
Additions charged to costs and expenses	1,286	3,798	2,452
Accounts written off	(4,642)	(1,496)	(225)
Translation adjustments	(863)	1,095	(461)
Balance at end of period	9,173	13,392	9,995
Valuation Allowance of Deferred Tax Assets [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	207,483	152,752	339,395
Additions charged to costs and expenses	(1,821)	35,646	(171,408)
Accounts written off	(3,887)	0	0
Translation adjustments	(9,269)	19,085	(15,235)
Balance at end of period	$ 200,280	207,483	152,752
Scenario, Adjustment [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Adjustment to foreign net operating loss carryforwards		$ (58,800)	$ (7,600)

Redeemable Noncontrolling Interests (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance at December 31, 2017	$ 5,092
Net income attributable to noncontrolling interests	2,479	$ 0	$ 0
Balance at December 31, 2018	10,423	5,092
Redeemable Noncontrolling Interest [Member]
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance at December 31, 2017	0
Acquired through acquisitions during 2018	97,510
Net income attributable to noncontrolling interests	2,196
Redemption value mark-up for the current period	2,848
Sale of a subsidiary with redeemable noncontrolling interests	(14,673)
Exercises of redeemable noncontrolling interests	(6,075)
Balance at December 31, 2018	$ 81,806	$ 0