IFF · 8-K · 20260804PR000028

Liquidity and Debt Position

INTERNATIONAL FLAVORS & FRAGRANCES INC · 2026-08-04 · Importance 56 · Surprise 24 · No source text

At June 30, 2026, IFF had $569 million of cash and $5.735 billion of total debt, comprising $964 million of short-term borrowings and $4.735 billion of long-term debt. Net debt was $5.166 billion, and net debt to credit-adjusted EBITDA was 2.5x, including continuing and discontinued operations. Management intends to use more than $1 billion of Food Ingredients divestiture proceeds to reduce outstanding debt and targets leverage of 2.0x to 2.5x net debt to EBITDA. First-half net repayments of commercial paper totaled $264 million.

Key facts

• Total debt to trailing twelve months net income at the end of the second quarter was 22.6x. source
• Total current assets at June 30, 2026 were $9,088 million and total assets were $25,154 million. source
• Short-term borrowings at June 30, 2026 were $964 million and long-term debt was $4,735 million. source
• Total debt used in net debt calculation at June 30, 2026 was $5,735 million and net debt was $5,166 million (total debt less cash and cash equivalents $569 million). source
• Twelve months ended June 30, 2026 Credit Adjusted EBITDA was $2,056 million. source
• Gain on Debt Extinguishment for Q2 2025: $488 million. source
• Net debt to credit adjusted EBITDA at the end of the second quarter was 2.5x, and includes the effects of both continuing and discontinued operations. source
• Cash and cash equivalents at June 30, 2026 were $569 million and at December 31, 2025 were $590 million. source

Impact estimates