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Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended
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Dec. 31, 2018
Quarterly Financial Data (Unaudited) |
Schedule of quarterly financial data |
(in millions, except per share amounts) |  | 1 st QTR (a) |  | 2 nd QTR (b) |  | 3 rd QTR (c) |  | 4 th QTR (d) |
2018 |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales before shipping and handling costs |  | $ | 1,581 |  | $ | 1,608 |  | $ | 1,563 |  | $ | 1,537 |
Less: shipping and handling costs |  |  | 112 |  |  | 112 |  |  | 113 |  |  | 111 |
Net sales |  |  | 1,469 |  |  | 1,496 |  |  | 1,450 |  |  | 1,426 |
Gross profit |  |  | 354 |  |  | 360 |  |  | 334 |  |  | 320 |
Net income attributable to Ingredion |  |  | 140 |  |  | 114 |  |  | 95 |  |  | 94 |
Basic earnings per common share of Ingredion |  |  | 1.94 |  |  | 1.59 |  |  | 1.33 |  |  | 1.38 |
Diluted earnings per common share of Ingredion |  |  | 1.90 |  |  | 1.57 |  |  | 1.32 |  |  | 1.36 |
Per share dividends declared |  | $ | 0.60 |  | $ | 0.60 |  | $ | 0.625 |  | $ | 0.625 |
(in millions, except per share amounts) |  | 1 st QTR (e) |  | 2 nd QTR (f) |  | 3 rd QTR (g) |  | 4 th QTR (h) |
2017 |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales before shipping and handling costs |  | $ | 1,552 |  | $ | 1,558 |  | $ | 1,591 |  | $ | 1,543 |
Less: shipping and handling costs |  |  | 99 |  |  | 101 |  |  | 106 |  |  | 106 |
Net sales |  |  | 1,453 |  |  | 1,457 |  |  | 1,485 |  |  | 1,437 |
Gross profit |  |  | 351 |  |  | 373 |  |  | 388 |  |  | 360 |
Net income attributable to Ingredion |  |  | 124 |  |  | 130 |  |  | 166 |  |  | 99 |
Basic earnings per common share of Ingredion |  |  | 1.72 |  |  | 1.81 |  |  | 2.31 |  |  | 1.37 |
Diluted earnings per common share of Ingredion |  |  | 1.68 |  |  | 1.78 |  |  | 2.26 |  |  | 1.35 |
Per share dividends declared |  | $ | 0.50 |  | $ | 0.50 |  | $ | 0.60 |  | $ | 0.60 |
| (a) |  | In the first quarter of 2018, the Company recorded $3 million in after-tax, net restructuring costs.
| (b) |  | In the second quarter of 2018, the Company recorded $5 million in after-tax, net restructuring costs and $2 million in after-tax, interest penalty related to an income tax settlement.
| (c) |  | In the third quarter of 2018, the Company recorded a $27 million in after-tax, net restructuring costs, $2 million in after-tax charges for the refinement of provisional charges related to the enactment of the TCJA, and $2 million after-tax gain related to a refinement of reserve for an income tax settlement.
| (d) |  | In the fourth quarter of 2018, the Company recorded a $16 million in after-tax, net restructuring costs and $1 million in after-tax charges for the refinement of provisional charges related to the enactment of the TCJA.
| (e) |  | In the first quarter of 2017, the Company recorded $11 million in after-tax, net restructuring costs, $3 million in after-tax non-cash inventory charges related to the TIC acquisition, and $1 million in after-tax acquisition and integration costs.
| (f) |  | In the second quarter of 2017, the Company recorded $5 million in after-tax, net restructuring costs and $3 million in after-tax, non-cash inventory charges.
| (g) |  | In the third quarter of 2017, the Company recorded a $10 million gain related to an income tax settlement, $5 million in after-tax, net restructuring costs, and $1 million in after-tax acquisition and integration costs.
| (h) |  | In the fourth quarter of 2017, the Company recorded a $23 million after-tax charge related to the enactment of the TCJA, $10 million in after-tax, net restructuring costs, a $6 million after-tax gain related to insurance settlement, and $1 million in after-tax acquisition and integration costs.

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