SEC Filing | International Flavors & Fragrances Inc.

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Form 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): March 26, 2014

INTERNATIONAL FLAVORS & FRAGRANCES INC.

(Exact Name of Registrant as Specified in its Charter)

New York

1-4858

13-1432060

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

521 West 57th Street

New York, New York

10019

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including area code: (212) 765-5500

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01.

Other Events.

The Fragrances business unit of International Flavors & Fragrances Inc. (“IFF”) will undergo an organization change, effective April 1, 2014, to realign its creative and commercial teams within its Fragrance Compounds activities along newly-defined end-use product categories, Consumer Fragrances and Fine Fragrances. Consumer Fragrances will consist of Fabric Care, Home Care, Personal Wash, Hair Care and Toiletries. IFF is filing this Current Report on Form 8-K to provide investors with supplemental, pro forma historical sales and sales growth information by end-use product category presented on a basis consistent with the revised product categories.

Item 9.01.

Financial Statements and Exhibits.

(d)

Exhibits.


99.1		Pro Forma Sales by End-Use Product Category for Fiscal Years 2013, 2012 and 2011

99.2		Pro Forma Quarterly and Twelve Months Reported and Local Currency Sales Growth by End-Use Product Category for Fiscal Years 2013, 2012 and 2011

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


INTERNATIONAL FLAVORS & FRAGRANCES INC.

By:		/s/ Richard O’Leary
Name:		Richard O’Leary
Title:		Vice President and Controller

Date: March 26, 2014

EXHIBIT INDEX


Exhibit Number		Description

99.1		Pro Forma Sales by End-Use Product Category for Fiscal Years 2013, 2012 and 2011

99.2		Pro Forma Quarterly and Twelve Months Reported and Local Currency Sales Growth by End-Use Product Category for Fiscal Years 2013, 2012 and 2011

EX-99.1

Exhibit 99.1

Pro Forma Sales by End-Use Product Category


	2013			2012			2011
Flavor Compounds		48	%		49	%		48	%
Consumer Fragrances*		32	%		31	%		30	%
Fine Fragrances		11	%		11	%		11	%
Fragrance Ingredients		9	%		9	%		11	%
Total Net Sales		100	%		100	%		100	%

*	Former Beauty Care and Functional Fragrances

EX-99.2

Exhibit 99.2


		% Change in Sales - First Quarter 2011 vs. First Quarter 2010
		Fine			Consumer Fragrances(*)			Ingredients			Total Frag.			Flavors			Total
North America	Reported		-13	%		3	%		7	%		1	%		17	%		9	%
EAME	Reported		21	%		1	%		-2	%		5	%		13	%		8	%
*Local Currency*			24	%		3	%		1	%		8	%		15	%		11	%
Latin America	Reported		35	%		4	%		-1	%		9	%		6	%		8	%
*Local Currency*			32	%		3	%		-1	%		9	%		4	%		7	%
Greater Asia	Reported		28	%		13	%		2	%		11	%		12	%		12	%
*Local Currency*			25	%		11	%		0	%		9	%		7	%		8	%
Total	Reported		14	%		5	%		2	%		6	%		13	%		9	%
*Local Currency*			15	%		5	%		3	%		7	%		12	%		9	%

		% Change in Sales - Second Quarter 2011 vs. Second Quarter 2010
		Fine			Consumer Fragrances(*)			Ingredients			Total Frag.			Flavors			Total
North America	Reported		-2	%		6	%		-3	%		1	%		9	%		5	%
EAME	Reported		5	%		7	%		0	%		5	%		19	%		10	%
*Local Currency*			-5	%		-3	%		-7	%		-4	%		9	%		0	%
Latin America	Reported		-7	%		-3	%		-13	%		-5	%		7	%		-1	%
*Local Currency*			*-11*	%		-4	%		*-15*	%		-7	%		4	%		-3	%
Greater Asia	Reported		4	%		6	%		17	%		7	%		15	%		12	%
*Local Currency*			0	%		4	%		11	%		5	%		8	%		7	%
Total	Reported		1	%		4	%		0	%		2	%		14	%		7	%
*Local Currency*			-5	%		0	%		-5	%		-2	%		8	%		3	%

		% Change in Sales - Third Quarter 2011 vs. Third Quarter 2010
		Fine			Consumer Fragrances(*)			Ingredients			Total Frag.			Flavors			Total
North America	Reported		-5	%		4	%		-10	%		-3	%		9	%		3	%
EAME	Reported		2	%		12	%		-8	%		4	%		15	%		8	%
*Local Currency*			-9	%		1	%		*-16*	%		-6	%		5	%		-2	%
Latin America	Reported		6	%		-3	%		-15	%		-2	%		9	%		2	%
*Local Currency*			3	%		-4	%		*-16*	%		-3	%		6	%		0	%
Greater Asia	Reported		-21	%		1	%		-12	%		-2	%		17	%		10	%
*Local Currency*			*-24*	%		-2	%		*-15*	%		-4	%		10	%		4	%
Total	Reported		0	%		4	%		-10	%		0	%		13	%		6	%
*Local Currency*			-6	%		0	%		*-15*	%		-5	%		8	%		1	%

		% Change in Sales - Fourth Quarter 2011 vs. Fourth Quarter 2010
		Fine			Consumer Fragrances(*)			Ingredients			Total Frag.			Flavors			Total
North America	Reported		-11	%		6	%		-9	%		-3	%		4	%		1	%
EAME	Reported		-12	%		10	%		-30	%		-7	%		11	%		0	%
*Local Currency*			*-12*	%		11	%		*-30*	%		-6	%		12	%		1	%
Latin America	Reported		-25	%		13	%		-2	%		2	%		0	%		1	%
*Local Currency*			*-24*	%		13	%		-2	%		2	%		1	%		2	%
Greater Asia	Reported		-3	%		0	%		-1	%		0	%		11	%		7	%
*Local Currency*			-4	%		0	%		-4	%		-1	%		10	%		6	%
Total	Reported		-14	%		7	%		-17	%		-3	%		8	%		2	%
*Local Currency*			*-14*	%		7	%		*-17*	%		-3	%		8	%		2	%

		% Change in Sales - Twelve Months 2011 vs. Twelve Months 2010
		Fine			Consumer Fragrances(*)			Ingredients			Total Frag.			Flavors			Total
North America	Reported		-8	%		5	%		-4	%		-1	%		10	%		4	%
EAME	Reported		4	%		7	%		-10	%		2	%		15	%		7	%
*Local Currency*			-1	%		3	%		*-13*	%		-2	%		10	%		2	%
Latin America	Reported		3	%		2	%		-8	%		1	%		5	%		2	%
*Local Currency*			0	%		1	%		-9	%		0	%		4	%		1	%
Greater Asia	Reported		2	%		5	%		1	%		4	%		14	%		10	%
*Local Currency*			-2	%		3	%		-2	%		2	%		9	%		6	%
Total	Reported		1	%		5	%		-6	%		1	%		12	%		6	%
*Local Currency*			-2	%		3	%		-9	%		-1	%		9	%		4	%

(*)

Former Beauty Care and Functional Fragrances.


		% Change in Sales - First Quarter 2012 vs. First Quarter 2011
		Fine			Consumer Fragrances(*)			Ingredients			Total Frag.			Flavors			Total
North America	Reported		5	%		1	%		-1	%		1	%		3	%		2	%
EAME	Reported		-8	%		-1	%		-17	%		-7	%		0	%		-4	%
*Local Currency*			-6	%		1	%		*-16*	%		-5	%		3	%		-2	%
Latin America	Reported		1	%		6	%		-10	%		3	%		3	%		3	%
*Local Currency*			2	%		7	%		*-10*	%		4	%		4	%		4	%
Greater Asia	Reported		-17	%		-7	%		-25	%		-10	%		7	%		0	%
*Local Currency*			*-19*	%		-7	%		*-26*	%		*-10*	%		8	%		1	%
Total	Reported		-4	%		-1	%		-12	%		-4	%		3	%		-1	%
*Local Currency*			-2	%		0	%		*-12*	%		-3	%		5	%		1	%

		% Change in Sales - Second Quarter 2012 vs. Second Quarter 2011
		Fine			Consumer Fragrances(*)			Ingredients			Total Frag.			Flavors			Total
North America	Reported		-8	%		0	%		-13	%		-5	%		8	%		2	%
EAME	Reported		-15	%		1	%		-29	%		-11	%		-1	%		-7	%
*Local Currency*			-8	%		9	%		*-24*	%		-5	%		7	%		0	%
Latin America	Reported		19	%		18	%		-14	%		15	%		3	%		10	%
*Local Currency*			22	%		18	%		*-13*	%		16	%		6	%		12	%
Greater Asia	Reported		-8	%		7	%		-20	%		2	%		7	%		5	%
*Local Currency*			-9	%		8	%		*-19*	%		3	%		9	%		7	%
Total	Reported		-7	%		6	%		-21	%		-3	%		5	%		1	%
*Local Currency*			-3	%		9	%		*-19*	%		0	%		8	%		4	%

		% Change in Sales - Third Quarter 2012 vs. Third Quarter 2011
		Fine			Consumer Fragrances(*)			Ingredients			Total Frag.			Flavors			Total
North America	Reported		13	%		4	%		-14	%		1	%		-3	%		-1	%
EAME	Reported		-5	%		-7	%		-22	%		-10	%		-1	%		-6	%
*Local Currency*			8	%		6	%		*-15*	%		2	%		12	%		6	%
Latin America	Reported		4	%		15	%		-3	%		10	%		-4	%		5	%
*Local Currency*			14	%		18	%		-1	%		15	%		3	%		11	%
Greater Asia	Reported		32	%		3	%		-12	%		1	%		4	%		3	%
*Local Currency*			33	%		4	%		*-11*	%		3	%		8	%		6	%
Total	Reported		3	%		2	%		-16	%		-1	%		0	%		-1	%
*Local Currency*			12	%		8	%		*-12*	%		5	%		6	%		5	%

		% Change in Sales - Fourth Quarter 2012 vs. Fourth Quarter 2011
		Fine			Consumer Fragrances(*)			Ingredients			Total Frag.			Flavors			Total
North America	Reported		26	%		5	%		9	%		10	%		3	%		7	%
EAME	Reported		-2	%		2	%		5	%		1	%		-2	%		0	%
*Local Currency*			3	%		7	%		10	%		7	%		3	%		5	%
Latin America	Reported		69	%		20	%		-10	%		26	%		0	%		16	%
*Local Currency*			78	%		22	%		-9	%		29	%		4	%		20	%
Greater Asia	Reported		30	%		15	%		-5	%		12	%		3	%		6	%
*Local Currency*			30	%		16	%		-4	%		13	%		4	%		7	%
Total	Reported		19	%		10	%		3	%		10	%		1	%		6	%
*Local Currency*			24	%		12	%		6	%		13	%		3	%		8	%

		% Change in Sales - Twelve Months 2012 vs. Twelve Months 2011
		Fine			Consumer Fragrances(*)			Ingredients			Total Frag.			Flavors			Total
North America	Reported		8	%		3	%		-5	%		2	%		3	%		2	%
EAME	Reported		-8	%		-1	%		-17	%		-7	%		-1	%		-5	%
*Local Currency*			-1	%		6	%		*-13*	%		-1	%		6	%		2	%
Latin America	Reported		19	%		15	%		-9	%		13	%		0	%		9	%
*Local Currency*			24	%		16	%		-8	%		15	%		4	%		12	%
Greater Asia	Reported		6	%		4	%		-16	%		1	%		5	%		4	%
*Local Currency*			6	%		5	%		*-16*	%		1	%		7	%		5	%
Total	Reported		1	%		4	%		-12	%		0	%		2	%		1	%
*Local Currency*			6	%		7	%		*-10*	%		3	%		5	%		4	%

(*)

Former Beauty Care and Functional Fragrances.


		% Change in Sales - First Quarter 2013 vs. First Quarter 2012
		Fine			Consumer Fragrances(*)			Ingredients			Total Frag.			Flavors			Total
North America	Reported		-19	%		4	%		-11	%		-6	%		-5	%		-5	%
EAME	Reported		-5	%		8	%		-12	%		0	%		6	%		2	%
*Local Currency*			-6	%		6	%		*-13*	%		-2	%		5	%		1	%
Latin America	Reported		31	%		11	%		-12	%		14	%		0	%		9	%
*Local Currency*			37	%		11	%		*-12*	%		15	%		3	%		11	%
Greater Asia	Reported		6	%		12	%		-6	%		9	%		5	%		6	%
*Local Currency*			6	%		13	%		-3	%		10	%		6	%		8	%
Total	Reported		1	%		9	%		-11	%		3	%		2	%		2	%
*Local Currency*			1	%		9	%		*-11*	%		3	%		2	%		3	%

		% Change in Sales - Second Quarter 2013 vs. Second Quarter 2012
		Fine			Consumer Fragrances(*)			Ingredients			Total Frag.			Flavors			Total
North America	Reported		12	%		-1	%		2	%		3	%		2	%		2	%
EAME	Reported		14	%		4	%		-1	%		6	%		3	%		5	%
*Local Currency*			15	%		5	%		0	%		7	%		5	%		6	%
Latin America	Reported		15	%		11	%		0	%		11	%		1	%		7	%
*Local Currency*			20	%		13	%		1	%		14	%		3	%		10	%
Greater Asia	Reported		-1	%		11	%		-16	%		7	%		6	%		7	%
*Local Currency*			-1	%		12	%		*-11*	%		8	%		8	%		8	%
Total	Reported		13	%		7	%		-2	%		7	%		4	%		5	%
*Local Currency*			15	%		8	%		-1	%		8	%		5	%		6	%

		% Change in Sales - Third Quarter 2013 vs. Third Quarter 2012
		Fine			Consumer Fragrances(*)			Ingredients			Total Frag.			Flavors			Total
North America	Reported		-14	%		6	%		-2	%		-2	%		1	%		0	%
EAME	Reported		16	%		6	%		-1	%		8	%		5	%		7	%
*Local Currency*			10	%		2	%		-5	%		3	%		3	%		3	%
Latin America	Reported		7	%		9	%		-8	%		7	%		4	%		6	%
*Local Currency*			10	%		11	%		-9	%		9	%		7	%		8	%
Greater Asia	Reported		-5	%		14	%		25	%		15	%		1	%		6	%
*Local Currency*			-5	%		15	%		31	%		16	%		4	%		8	%
Total	Reported		4	%		9	%		1	%		7	%		2	%		5	%
*Local Currency*			3	%		8	%		0	%		5	%		3	%		4	%

		% Change in Sales - Fourth Quarter 2013 vs. Fourth Quarter 2012
		Fine			Consumer Fragrances(*)			Ingredients			Total Frag.			Flavors			Total
North America	Reported		-6	%		5	%		-10	%		-2	%		-8	%		-5	%
EAME	Reported		37	%		6	%		0	%		12	%		14	%		13	%
*Local Currency*			32	%		2	%		-3	%		8	%		13	%		10	%
Latin America	Reported		1	%		8	%		0	%		6	%		15	%		9	%
*Local Currency*			2	%		9	%		0	%		6	%		19	%		10	%
Greater Asia	Reported		-6	%		15	%		12	%		14	%		4	%		8	%
*Local Currency*			-6	%		17	%		19	%		17	%		9	%		12	%
Total	Reported		15	%		9	%		-2	%		8	%		5	%		7	%
*Local Currency*			13	%		8	%		-3	%		7	%		7	%		7	%

		% Change in Sales - Twelve Months 2013 vs. Twelve Months 2012
		Fine			Consumer Fragrances(*)			Ingredients			Total Frag.			Flavors			Total
North America	Reported		-6	%		4	%		-6	%		-2	%		-2	%		-2	%
EAME	Reported		14	%		6	%		-4	%		6	%		7	%		6	%
*Local Currency*			11	%		4	%		-6	%		4	%		6	%		5	%
Latin America	Reported		14	%		10	%		-5	%		9	%		5	%		8	%
*Local Currency*			17	%		11	%		-5	%		11	%		8	%		10	%
Greater Asia	Reported		-2	%		13	%		3	%		11	%		4	%		7	%
*Local Currency*			-2	%		14	%		8	%		13	%		7	%		9	%
Total	Reported		8	%		8	%		-4	%		6	%		3	%		5	%
*Local Currency*			8	%		8	%		-4	%		6	%		4	%		5	%

(*)

Former Beauty Care and Functional Fragrances.