INTERNATIONAL FLAVORS & FRAGRANCES INC IFF Cash Flow

International flavors & fragrances inc (IFF)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Cash flows from operating activities:
Net income
127,211	80,378	129,807	138,869	111,214	15,500	95,717	99,148	129,416	-40,155	110,261	109,795	115,764	79,917	89,777	116,734	118,603	79,167	106,448	105,374	128,258	90,135	107,416	110,285	106,707	61,479	99,045	102,323	90,697	68,118	16,365	88,595	81,056	24,394	82,241	76,188	84,043	55,577	77,039	67,152	63,789
Adjustments to reconcile to net cash provided by operating activities
Depreciation and amortization
80,595	87,901	80,615	73,039	81,775	77,798	31,026	31,584	33,384	32,521	29,641	29,003	26,802	27,360	25,366	23,046	26,697	24,498	24,058	21,056	19,985	20,676	19,547	26,301	22,830	22,143	21,277	20,402	19,405	20,335	19,238	18,055	19,039	19,082	18,889	19,394	17,962	19,105	19,916	20,189	20,032
Deferred income taxes
2,221	-24,145	-7,920	-14,825	-12,389	-1,221	6,281	-4,062	18,404	62,328	-4,944	5,271	-3,766	6,027	-8,220	12,350	4,193	-91	-4,757	3,959	13,932	15,854	-2,732	1,982	8,246	4,683	-10,138	-7,261	12,232	-2,048	-44	2,527	-16,313	-315	-1,543	9,300	17,915	27,419	-25,983	-9,568	-5,169
Losses (gains) on sale of assets
-754	-1,231	-372	-952	188	742	1,630	-1,264	69	64	31	68	21	7,838	88	197	2,713	281	355	20	-34	1,417	782	758	811	-1,018	838	16,936	1,085	2,218	718	719	806	819	785	773	807	721	1,115	1,222	623
Stock-based compensation
8,624	8,056	8,126	10,696	7,604	7,360	6,868	7,553	7,620	6,418	7,256	7,074	5,819	5,116	5,697	7,844	5,930	4,805	5,495	7,473	5,387	3,021	5,593	9,339	4,695	4,817	4,869	9,527	4,523	4,353	4,091	8,282	2,990	3,880	3,578	8,272	4,817	1,674	5,928	5,319	5,461
Pension contributions
5,397	7,324	5,709	6,725	3,956	6,450	6,020	5,576	4,387	2,428	5,313	6,294	25,263	1,991	4,846	32,100	7,410	6,772	3,632	3,445	54,048	9,489	24,681	4,496	5,316	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) Related to Litigation Settlement
-	-	-	-	-	-	-	-	12,969	0	0	56,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Foreign currency gain on liquidation of entity
-	-	-	-	-	-	-	-	-	3	0	0	12,214	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in assets and liabilities, net of acquisitions:
Trade receivables
133,291	-82,433	-64,233	31,176	55,935	-43,240	-6,765	38,662	61,301	-26,094	17,365	16,722	60,858	-14,526	-34,291	9,706	60,655	-16,851	16,234	29,438	62,891	-45,294	-2,307	8,667	41,569	-18,895	11,298	26,305	34,448	-33,308	8,329	16,815	41,220	-36,231	-1,244	17,608	55,564	-48,783	7,160	24,474	29,292
Inventories
568	-22,011	12,595	46,826	24,719	24,936	24,765	37,755	30,185	25,122	-10,439	4,119	109	-15,612	-7,111	10,527	-3,256	5,973	21,821	23,006	-13,172	18,433	23,459	-2,441	591	5,857	4,015	3,514	-18,208	-8,322	-1,892	4,842	801	18,250	-7,149	2,165	11,933	33,095	22,771	24,328	6,056
Accounts payable
-31,635	94,796	-31,687	-16,633	8,988	72,334	-10,059	1,296	-8,435	49,674	2,919	-21,501	-1,978	21,881	-356	208	-29,375	34,791	27,148	22,716	4,618	21,862	28,372	-18,842	-11,989	32,894	-1,383	19,141	-29,339	32,912	-12,438	-10,561	-10,653	13,128	20,741	-20,456	-19,272	-52,868	34,261	72,287	-13,707
Accruals for incentive compensation
-19,340	-1,631	8,612	7,631	-36,969	8,464	14,405	11,425	-36,583	16,237	15,223	11,169	-23,485	9,121	5,013	9,597	-11,598	-3,618	7,410	6,484	-27,675	14,535	9,488	7,312	-62,282	25,816	21,778	20,102	-43,178	19,705	12,908	8,775	-6,756	-1,445	2,538	4,540	-55,597	-	-	-	-
Other current payables and accrued expenses
-65,158	17,649	-227	-613	-11,321	-5,665	-10,642	29,568	-18,540	13,256	12,522	4,487	-7,586	18,440	17,263	2,944	10,456	-5,461	13,280	8,720	12,585	-30,005	11,405	-13,478	1,096	-28,660	13,497	20,685	-6,766	108	2,572	14,736	11,787	12,033	-10,764	-28,526	-18,234	-	-	-	-
Other assets
-42,462	8,634	28,027	20,011	9,978	-42,378	-4,023	39,585	26,035	7,690	14,183	12,277	-30,284	-9,637	14,758	-1,876	-2,178	-	-	-	-	-	-	-	-	-	2,078	25,258	-3,531	-	4,166	30,102	-8,854	-12,924	21,811	22,663	-9,122	35,677	-1,945	11,793	4,261
Other liabilities
10,467	-36,791	-7,481	43,306	-6,894	4,467	-1,364	10,366	-1,715	60,201	-4,857	-10,392	-24,894	10,494	13,291	10,284	-19,619	-	-	-	-	-	-	-	-	-	8,557	-13,582	-15,061	-	3,982	3,925	5,459	-28,379	13,104	8,003	-7,396	-230	-1,375	1,686	2,218
Other assets/liabilities, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	21,881	-	-30,999	-7,618	-13,977	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by operating activities
16,945	315,930	198,119	137,684	47,232	235,617	146,789	66,564	-11,395	191,267	141,568	39,426	18,495	208,302	169,541	132,353	39,943	172,620	128,377	134,842	31,476	200,887	163,473	119,037	34,993	150,246	139,273	99,324	18,719	186,218	2,212	82,730	52,636	72,464	114,581	37,089	-34,944	106,811	80,685	95,248	32,392
Cash flows from investing activities:
Cash paid for acquisitions, net of cash received
0	0	1	15,169	33,895	4,857,321	0	0	22	1,024	0	53,211	138,093	236,836	0	0	0	-	-	-	-	0	0	100	102,400	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Additions to property, plant and equipment
48,294	75,529	41,355	61,485	57,609	67,673	35,000	34,316	33,105	51,655	31,165	19,491	26,662	56,233	26,943	20,724	22,512	34,398	28,695	18,556	19,381	45,362	37,576	26,408	33,836	47,709	25,759	30,828	29,861	41,964	30,343	25,075	28,758	52,714	29,044	26,324	19,375	52,704	16,584	24,063	12,950
Maturity of net investment hedges
-	-	-	-	-	0	0	237	2,405	792	790	-1,068	-1,948	-649	-629	641	0	-	-	-	-	-3,776	0	0	472	-20	0	-96	-530	0	0	0	-1,960	-	-	-	-	-	-	-	-
Purchase of life insurance contracts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	92	399	636	203	362	1,154	217	266	1,148	588	1,856
Proceeds from life insurance contracts
1,739	0	0	0	1,890	0	1,837	0	0	-	-	-	-	-	-	-	-	-	-	-	-	0	0	5,442	12,308	0	0	0	793	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from disposal of assets
3,806	7,505	9,922	20,715	3,970	7,215	343	325	293	14,864	802	-146	619	3,192	34	2,264	1,366	871	1,916	65	1,450	789	432	32	2,042	10,530	315	16,263	204	1,540	99	56	68	236	70	255	144	116	103	1,374	64
Contingent consideration paid
0	0	0	0	4,655	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-42,749	-68,024	-11,604	-55,939	-90,299	-4,910,948	-32,820	-34,228	-35,239	-36,750	-31,153	-69,839	-162,188	-289,228	-25,988	-19,101	-21,146	-31,089	-331,093	-197,043	-17,931	-40,797	-37,144	-21,034	-122,358	-37,159	-25,444	-14,469	-28,334	-36,468	-25,009	-25,418	-27,366	-52,936	-32,532	-26,247	-19,448	-52,803	-17,629	-21,609	-14,742
Cash flows from financing activities:
Cash dividends paid to shareholders
80,038	80,033	77,899	77,799	77,779	66,900	54,494	54,404	54,420	54,440	50,494	50,507	50,677	50,846	44,588	44,637	44,826	44,995	37,948	37,956	37,971	38,126	31,696	31,674	31,743	31,822	27,792	27,733	0	55,485	25,252	25,120	25,086	25,076	21,825	21,692	21,657	21,576	19,974	19,845	19,786
Increase in revolving credit facility and short term borrowings
169	-1,032	3	-2,887	2,895	-113,410	2,224	56,571	53,688	-40,497	14,403	-78,886	100,481	-2,750	9,818	-13,540	-124,602	-111,962	280,281	-30,548	265	-594	6,820	797	1,309	-310	1,146	-283,709	-352	130,380	34,410	-9,840	-16,194	9,370	24,209	7,511	51,572	-27,104	-42,449	-38,988	5,351
Increase in commercial paper
-	-	-	-	-	-	-	-	-	-	-	-	107,441	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	1,008	-16	0	4,796	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayments on debt
11,584	54,476	53,368	11,261	36,156	87,815	288,810	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of long-term debt
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	555,559	0	-86,162	86,162	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contingent consideration paid
327	2,687	0	21,791	0	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of redeemable noncontrolling interest
14,173	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (loss) on pre-issuance hedges
-	-	-	-	-	-	-	-	-	-10,620	0	5,610	-300	0	0	0	3,244	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of stock in connection with stock options
0	-200	0	0	200	0	0	0	0	-	-	-	-	219	100	331	163	598	2	59	227	503	337	111	913	186	47	1,596	1,970	1,547	2,264	4,296	1,104	337	1,164	9,676	3,479	9,119	2,431	7,302	7,372
Employee withholding taxes paid
-1,275	-821	-111	-8,516	-1,339	0	-629	-5,830	-3,266	-259	-24	-8,485	-3,000	-38	0	-6,019	-7,296	-34,596	96	3,011	8,597	250	292	5,473	315	529	411	4,428	744	1,460	407	5,201	1,312	710	148	4,259	816	-	-	-	-
Purchase of treasury stock
-	-	-	-	-	0	0	4,858	10,617	4,858	0	15,599	37,612	33,295	22,434	31,707	40,007	40,956	42,424	28,153	10,660	35,750	18,350	13,981	20,122	19,440	12,749	4,932	14,242	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in financing activities
-107,228	-139,249	-131,375	-122,254	-112,179	49,608	4,845,632	-9,922	-14,615	-100,054	-286,115	226,678	116,933	-87,718	-182,088	-95,572	330,951	-231,911	113,845	-7,425	-39,542	-74,208	-38,497	-40,297	-49,328	-50,857	-138,951	-15,350	-11,880	77,902	11,829	-25,463	-38,864	-38,367	-96,304	-246	34,210	-38,158	-59,992	-51,531	-7,063
Effect of exchange rate changes on cash, cash equivalents and restricted cash
-42,529	11,234	-5,906	-1,800	3,853	-214	-7,565	-5,267	-1,521	-2,419	316	-4,946	2,835	-6,094	-2,727	-6,565	-2,859	92	-16,107	3,191	-8,887	-12,145	-9,849	563	-228	126	2,374	-3,654	-2,881	-411	3,512	-3,738	1,841	-165	-1,893	865	820	597	1,269	-1,374	-904
Net change in cash, cash equivalents and restricted cash
-175,561	119,891	49,234	-42,309	-151,393	-4,625,937	4,952,036	17,147	-62,770	52,044	-175,384	191,319	-23,925	-174,738	-41,262	11,115	346,889	-90,288	-104,978	-66,435	-34,884	73,737	77,983	58,269	-136,921	62,356	-22,748	65,851	-24,376	227,241	-7,456	28,111	-11,753	-19,004	-16,148	11,461	-19,362	16,447	4,333	20,734	9,683
Supplemental Disclosures:
Interest paid, net of amounts capitalized
41,755	11,618	51,642	21,973	48,506	25,707	17,452	54,186	20,236	6,955	16,446	6,449	25,590	5,568	20,037	4,242	20,729	3,889	19,044	4,130	19,697	19,699	2,698	3,676	20,033	411	26,799	-1,212	22,167	-489	21,738	-2,129	22,195	-4,110	26,297	834	26,344	1,001	26,472	172	26,442
Income taxes paid
32,636	27,353	24,908	40,585	33,326	29,466	28,863	32,870	24,939	30,034	26,394	30,919	20,043	27,848	27,331	28,835	23,884	31,567	25,096	25,437	20,634	29,080	17,523	26,803	18,681	33,304	33,977	50,342	21,317	20,825	134,038	22,368	7,361	27,614	22,034	17,800	20,337	24,925	15,167	18,551	12,164
Noncash investing activities:
Accrued capital expenditures
19,013	23,640	-2,954	4,539	14,241	15,597	-913	292	18,868	24,502	-535	8,156	5,433	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-