XML 56 R38.htm IDEA: XBRL DOCUMENT
v3.20.4

Supplementary Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Supplementary Information |
Balance Sheets - supplementary information | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions) |  | 2020 |  | 2019 |
Accounts receivable, net: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Accounts receivable — trade | ​ | $ | 855 | ​ | $ | 830 | ​
Accounts receivable — other | ​ | ​ | 170 | ​ | ​ | 157 | ​
Allowance for doubtful accounts | ​ | ​ | (14) | ​ | ​ | (10) | ​
Total accounts receivable, net | ​ | $ | 1,011 | ​ | $ | 977 | ​
Inventories: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Finished and in process | ​ | $ | 584 | ​ | $ | 565 | ​
Raw materials | ​ | ​ | 236 | ​ | ​ | 237 | ​
Manufacturing supplies | ​ | ​ | 97 | ​ | ​ | 59 | ​
Total inventories | ​ | $ | 917 | ​ | $ | 861 | ​
Accrued liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Compensation-related costs | ​ | $ | 96 | ​ | $ | 93 | ​
Income taxes payable | ​ | ​ | 26 | ​ | ​ | 16 | ​
Current lease liabilities | ​ | ​ | 46 | ​ | ​ | 41 | ​
Dividends payable | ​ | ​ | 43 | ​ | ​ | 42 | ​
Accrued interest | ​ | ​ | 11 | ​ | ​ | 15 | ​
Taxes payable other than income taxes | ​ | ​ | 44 | ​ | ​ | 36 | ​
Other | ​ | ​ | 155 | ​ | ​ | 138 | ​
Total accrued liabilities | ​ | $ | 421 | ​ | $ | 381 | ​
Non-current liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Employees’ pension, indemnity, and postretirement | ​ | ​ | 139 | ​ | ​ | 132 | ​
Other | ​ | ​ | 88 | ​ | ​ | 88 | ​
Total non-current liabilities | ​ | $ | 227 | ​ | $ | 220 | ​
Statements of Income - supplementary information | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions) |  | 2020 |  | 2019 |  | 2018 |
Other income, net: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Brazil tax matter | ​ | $ | 36 | ​ | $ | 22 | ​ | $ | — | ​
Value-added tax recovery | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 5 | ​
Other | ​ | ​ | (5) | ​ | ​ | (3) | ​ | ​ | 5 | ​
Other income, net | ​ | $ | 31 | ​ | $ | 19 | ​ | $ | 10 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions) |  | 2020 |  | 2019 |  | 2018
Financing costs, net: |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
Interest expense, net of amounts capitalized (a) | ​ | $ | 68 | ​ | $ | 84 | ​ | $ | 81
Debt extinguishment costs | ​ | ​ | 5 | ​ | ​ | — | ​ | ​ | —
Interest income | ​ | ​ | (6) | ​ | ​ | (7) | ​ | ​ | (9)
Foreign currency transaction losses | ​ | ​ | 14 | ​ | ​ | 4 | ​ | ​ | 14
Financing costs, net | ​ | $ | 81 | ​ | $ | 81 | ​ | $ | 86
| (a) | Interest capitalized amounted to $7 million, $5 million, and $3 million for the years ended December 31, 2020, 2019 and 2018, respectively.
Statements of Cash Flow - supplementary information | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions) |  | 2020 |  | 2019 |  | 2018 |
Other non-cash charges to net income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Share-based compensation expense | ​ | $ | 22 | ​ | $ | 18 | ​ | $ | 21 | ​
Indefinite-lived asset impairment | ​ | ​ | 35 | ​ | ​ | — | ​ | ​ | — | ​
Other | ​ |  | 42 | ​ |  | 15 | ​ |  | 18 | ​
Total other non-cash charges to net income | ​ | $ | 99 | ​ | $ | 33 | ​ | $ | 39 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions) |  | 2020 |  | 2019 |  | 2018 |
Interest paid | ​ | $ | 78 | ​ | $ | 80 | ​ | $ | 73 | ​
Income taxes paid | ​ | ​ | 120 | ​ | ​ | 145 | ​ | ​ | 231 | ​
Schedule of quarterly financial data | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions, except per share amounts) |  | 1st QTR (a) |  | 2nd QTR (b) |  | 3rd QTR (c) |  | 4th QTR (d) |
2020 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net sales | ​ | $ | 1,543 | ​ | $ | 1,349 | ​ | $ | 1,502 | ​ | $ | 1,593 | ​
Gross profit | ​ | ​ | 323 | ​ | ​ | 271 | ​ | ​ | 326 | ​ | ​ | 352 | ​
Net income attributable to Ingredion | ​ | ​ | 75 | ​ | ​ | 66 | ​ | ​ | 92 | ​ | ​ | 115 | ​
Basic earnings per common share of Ingredion | ​ | ​ | 1.12 | ​ | ​ | 0.98 | ​ | ​ | 1.37 | ​ | ​ | 1.71 | ​
Diluted earnings per common share of Ingredion | ​ | ​ | 1.11 | ​ | ​ | 0.98 | ​ | ​ | 1.36 | ​ | ​ | 1.70 | ​
Per share dividends declared | ​ | $ | 0.63 | ​ | $ | 0.63 | ​ | $ | 0.64 | ​ | $ | 0.64 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions, except per share amounts) |  | 1st QTR (e) |  | 2nd QTR (f) |  | 3rd QTR (g) |  | 4th QTR (h) |
2019 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net sales | ​ | $ | 1,536 | ​ | $ | 1,550 | ​ | $ | 1,574 | ​ | $ | 1,549 | ​
Gross profit | ​ | ​ | 316 | ​ | ​ | 329 | ​ | ​ | 344 | ​ | ​ | 323 | ​
Net income attributable to Ingredion | ​ | ​ | 100 | ​ | ​ | 105 | ​ | ​ | 99 | ​ | ​ | 109 | ​
Basic earnings per common share of Ingredion | ​ | ​ | 1.50 | ​ | ​ | 1.57 | ​ | ​ | 1.48 | ​ | ​ | 1.63 | ​
Diluted earnings per common share of Ingredion | ​ | ​ | 1.48 | ​ | ​ | 1.56 | ​ | ​ | 1.47 | ​ | ​ | 1.61 | ​
Per share dividends declared | ​ | $ | 0.625 | ​ | $ | 0.625 | ​ | $ | 0.63 | ​ | $ | 0.63 | ​
| (a) | In the first quarter of the year ended December 31, 2020, the Company recorded $11 million in after-tax, net restructuring costs.
| (b) | In the second quarter of the year ended December 31, 2020, the Company recorded $8 million in after-tax, net restructuring costs and $2 million in after-tax, acquisition/integration costs.
| (c) | In the third quarter of the year ended December 31, 2020, the Company recorded $15 million in after-tax, net restructuring cost, $6 million in after-tax, charges for other tax matters, $4 million in after-tax, acquisition/integration cost, $4 million in after-tax, charge for early extinguishment of debt, $3 million in after-tax, charge for fair value markup of acquired inventory, and $2 million in after-tax, North America storm damage cost.
| (d) | In the fourth quarter of the year ended December 31, 2020, the Company recorded $40 million in after-tax, net restructuring and impairment cost, $27 million in after-tax, income for other matters, $4 million in after-tax, acquisition/integration cost, $3 million in after-tax, income for other tax matters, $1 million in after-tax, charge for fair value markup of acquired inventory, and $1 million in after-tax, North America storm damage cost.
| (e) | In the first quarter of the year ended December 31, 2019, the Company recorded $3 million in after-tax, net restructuring costs and $1 million in after-tax, net acquisition/integration costs.
| (f) | In the second quarter of the year ended December 31, 2019, the Company recorded $7 million in after-tax, net restructuring costs.
| (g) | In the third quarter of the year ended December 31, 2019, the Company recorded $22 million in after-tax, net restructuring cost and $2 million in after-tax charges for other tax matters.
| (h) | In the fourth quarter of the year ended December 31, 2019, the Company recorded $13 million in after-tax, other income related to other matters, $12 million in after-tax, net restructuring costs, and $1 million in after-tax, acquisition/integration costs.

X
- Definition Tabular disclosure of supplemental balance sheet information for the periods presented. + References No definition available. + Details
Name: | ingr_ScheduleOfBalanceSheetSupplementalDisclosuresTableTextBlock
Namespace Prefix: | ingr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of supplemental income statement information for the periods presented. + References No definition available. + Details
Name: | ingr_ScheduleOfIncomeStatementSupplementalDisclosuresTableTextBlock
Namespace Prefix: | ingr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | ingr_SupplementaryInformationDisclosureAbstract
Namespace Prefix: | ingr_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of supplemental cash flow information for the periods presented. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCashFlowSupplementalDisclosuresTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121640914&loc=d3e1280-108306 + Details
Name: | us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration