International Flavors & Fragrances Inc (IFF)

Debt-to-capital ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Long-term debt	US$ in thousands	9,186,000	9,159,000	9,208,000	9,220,000	10,373,000	10,260,000	10,363,000	10,738,000	10,768,000	10,818,000	11,354,000	11,330,000	3,779,000	3,890,760	4,181,700	3,946,900	3,997,440	4,008,130	4,428,680	4,421,430
Total stockholders’ equity	US$ in thousands	14,611,000	16,978,000	17,623,000	17,758,000	17,655,000	16,887,000	20,260,000	20,933,000	21,082,000	21,426,000	21,761,000	21,642,000	6,310,000	6,078,210	5,987,800	5,827,850	6,217,300	6,055,820	6,199,380	6,143,210
Debt-to-capital ratio		0.39	0.35	0.34	0.34	0.37	0.38	0.34	0.34	0.34	0.34	0.34	0.34	0.37	0.39	0.41	0.40	0.39	0.40	0.42	0.42

December 31, 2023 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $9,186,000K ÷ ($9,186,000K + $14,611,000K)
= 0.39

The debt-to-capital ratio for International Flavors & Fragrances Inc. has shown some fluctuations over the past eight quarters. It ranged from 0.36 to 0.41 during this period.

In Q4 2023, the ratio increased to 0.41 from 0.38 in Q3 2023, indicating a higher proportion of debt relative to total capital employed. This suggests that the company may have taken on more debt or experienced a decrease in its total capital structure during the quarter.

Overall, the company's debt-to-capital ratio has remained relatively stable around the 0.37 to 0.39 range over the past two years, indicating a balanced mix of debt and equity in its capital structure. However, stakeholders should continue to monitor any significant changes in this ratio to assess the company's leverage and financial risk going forward.