Other Current Assets and Liabilities, and Other Assets (Tables)

9 Months Ended

Sep. 30, 2025

Other assets consisted of the following amounts:


(DOLLARS IN MILLIONS)	September 30, 2025		December 31, 2024
Deferred income taxes	$	233	$	240
Overfunded pension plans	179		144
Cash surrender value of life insurance contracts	55		52
Finance lease right-of-use assets	32		27
Equity method investments	15		10
Long-term receivables(1)	257		153
Other(2)	211		281
Total	$	982	$	907

_______________________

(1)Primarily relates to long-term tax receivables due to an operating loss carryback, long-term uncertain tax benefits, and receivables from certain government authorities, which the Company has corresponding payables to DuPont in relation to the N&B Transaction in 2021.

(2)Includes land usage rights in China.

Schedule of Other Current Assets

Prepaid expenses and other current assets consisted of the following amounts:


(DOLLARS IN MILLIONS)	September 30, 2025		December 31, 2024
Value-added tax receivable	$	136	$	118
Prepaid income taxes	267		177
Deferred charges	34		44
Packaging materials and supplies	126		123
Prepaid expenses	180		159

Earnout receivable	100		—
Other	68		65
Total	$	911	$	686

Other Current Liabilities

Other current liabilities consisted of the following amounts:


(DOLLARS IN MILLIONS)	September 30, 2025		December 31, 2024
Rebates and incentives payable	$	104	$	111
Value-added tax payable	36		24
Interest payable	35		42
Current pension and other postretirement benefit obligation	14		12


Accrued restructuring	33		3
Current operating lease obligation	93		82




Accrued income taxes	226		129

Accrued expenses payable	304		203
Other	199		196
Total	$	1,044	$	802

INTERNATIONAL FLAVORS & FRAGRANCES INC 10-Q