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Equity (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of reconciliation of common stock share activity

​

​	​	​	​	​	​	​	​
(Shares of common stock, in thousands)	​	Issued	​	Held in Treasury	​	Outstanding
Balance at December 31, 2017	​	77,811	​	5,815	​	71,996	​
Issuance of restricted stock units as compensation	​	—	​	(100)	​	100	​
Performance shares and other share-based awards	​	—	​	(68)	​	68	​
Stock options exercised	​	—	​	(209)	​	209	​
Purchase/acquisition of treasury stock	​	—	​	5,847	​	(5,847)	​
Balance at December 31, 2018	​	77,811	​	11,285	​	66,526	​
Issuance of restricted stock units as compensation	​	—	​	(105)	​	105	​
Performance shares and other share-based awards	​	—	​	(5)	​	5	​
Stock options exercised	​	—	​	(182)	​	182	​
Purchase/acquisition of treasury stock	​	—	​	—	​	—	​
Balance at December 31, 2019	​	77,811	​	10,993	​	66,818	​
Issuance of restricted stock units as compensation	​	—	​	(69)	​	69	​
Performance shares and other share-based awards	​	—	​	(5)	​	5	​
Stock options exercised	​	—	​	(124)	​	124	​
Purchase/acquisition of treasury stock	​	—	​	—	​	—	​
Balance at December 31, 2020	​	77,811	​	10,795	​	67,016	​

Schedule of stock based compensation expense

​

​	​	​	​	​	​	​	​	​	​	​
(in millions)		2020			2019			2018
Stock options:	​	​	​	​	​	​	​	​	​	​
Pre-tax compensation expense	​	$	4		$	3		$	5	​
Income tax benefit	​		—	​		—	​		(1)	​
Stock option expense, net of income taxes	​		4	​		3	​		4	​
​	​	​	​	​	​	​	​	​	​	​
Restricted stock units ("RSUs"):	​	​	​	​	​	​	​	​	​	​
Pre-tax compensation expense	​		12	​		10	​		12	​
Income tax benefit	​		(1)	​		(2)	​		(2)	​
RSUs, net of income taxes	​		11	​		8	​		10	​
​	​	​	​	​	​	​	​	​	​	​
Performance shares and other share-based awards:	​	​	​	​	​	​	​	​	​	​
Pre-tax compensation expense	​		7	​		5	​		4	​
Income tax benefit	​		(1)	​		—	​		—	​
Performance shares and other share-based compensation expense, net of income taxes	​		6	​		5	​		4	​
​	​	​	​	​	​	​	​	​	​	​
Total share-based compensation:	​	​	​	​	​	​	​	​	​	​
Pre-tax compensation expense	​		23	​		18	​		21	​
Income tax benefit	​		(2)	​		(2)	​		(3)	​
Total share-based compensation expense, net of income taxes	​	$	21		$	16		$	18	​

Schedule of valuation assumptions for stock options

​

​	​	​	​	​	​	​	​	​	​
​	​	For the Year Ended December 31,
​	​	2020		​	2019		​	2018
Expected life (in years)	​	5.5	​	​	5.5	​	​	5.5	​
Risk-free interest rate	​	1.4	%	​	2.5	%	​	2.5	%
Expected volatility	​	19.8	%	​	19.7	%	​	19.8	%
Expected dividend yield	​	2.9	%	​	2.7	%	​	1.8	%

Schedule of stock option transactions

​

​	​	​	​	​	​	​	​	​	​	​	​
​		Number of Options (in thousands)		Weighted Average Exercise Price per Share			Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value (in millions)
Outstanding as of December 31, 2019		2,055		$	84.36	​	5.30	​	$	34	​
Granted		336	​	​	88.35	​	​	​	​	​	​
Exercised		(124)	​	​	47.12	​	​	​	​	​	​
Cancelled		(29)	​	​	103.57	​	​	​	​	​	​
Outstanding as of December 31, 2020		2,238	​	$	86.55		5.15		$	14	​
Exercisable as of December 31, 2020		1,709	​	$	84.38		4.11		$	14	​

Schedule of additional information pertaining to stock option activity

​

​	​	​	​	​	​	​	​	​	​
​	​	​					​	​	​
​	​	Year Ended December 31,
(dollars in millions, except per share)		2020			2019		​	2018
Weighted average grant date fair value of stock options granted (per share)	​	$	11.48	​	$	14.02	​	$	24.01
Total intrinsic value of stock options exercised	​	​	5	​	​	10	​	​	15

Summary of net changes in accumulated other comprehensive loss

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(in millions)

Cumulative Translation Adjustment

Deferred (Loss) Gain on Hedging Activities

Pension and Postretirement Adjustment

Unrealized (Loss) Gain on Investment

Accumulated Other Comprehensive Loss

Balance, December 31, 2017

​

$

(951)

​

$

(13)

​

$

(51)

​

$

2

​

$

(1,013)

​

Other comprehensive income (loss) before reclassification adjustments

​

​

(129)

​

​

8

​

​

(20)

​

​

—

​

​

(141)

​

Amount reclassified from accumulated OCI

​

​

—

​

​

6

​

​

—

​

​

—

​

​

6

​

Tax benefit (provision)

​

​

—

​

​

(4)

​

​

5

​

​

—

​

​

1

​

Net other comprehensive income (loss)

​

​

(129)

​

​

10

​

​

(15)

​

​

—

​

​

(134)

​

Adoption of ASU 2016-01

​

​

—

​

​

—

​

​

—

​

​

(2)

​

​

(2)

​

Adoption of ASU 2018-02

​

​

—

​

​

(2)

​

​

(3)

​

​

—

​

​

(5)

​

Other

​

​

—

​

​

(2)

​

​

(3)

​

​

(2)

​

​

(7)

​

Balance, December 31, 2018

​

​

(1,080)

​

​

(5)

​

​

(69)

​

​

—

​

​

(1,154)

​

Other comprehensive (loss) income before reclassification adjustments

​

​

(9)

​

​

(19)

​

​

11

​

​

—

​

​

(17)

​

Amount reclassified from accumulated OCI

​

​

—

​

​

14

​

​

—

​

​

—

​

​

14

​

Tax benefit (provision)

​

​

—

​

​

1

​

​

(2)

​

​

—

​

​

(1)

​

Net other comprehensive (loss) income

​

​

(9)

​

​

(4)

​

​

9

​

​

—

​

​

(4)

​

Balance, December 31, 2019

​

$

(1,089)

​

$

(9)

​

$

(60)

​

$

—

​

$

(1,158)

​

Other comprehensive loss before reclassification adjustments

​

​

(25)

​

​

5

​

​

(2)

​

​

—

​

​

(22)

​

Amount reclassified from accumulated OCI

​

​

—

​

​

65

​

​

—

​

​

—

​

​

65

​

Tax benefit (provision)

​

​

—

​

​

(19)

​

​

1

​

​

—

​

​

(18)

​

Net other comprehensive loss

​

​

(25)

​

​

51

​

​

(1)

​

​

—

​

​

25

​

Balance, December 31, 2020

​

$

(1,114)

​

$

42

​

$

(61)

​

$

—

​

$

(1,133)

​

Schedule of basic and diluted earnings per common share

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2020

​

​

2019

​

​

2018

​

​

​

​

Net Income

​

​

Weighted

​

​

Per

​

​

Net Income

​

​

Weighted

​

​

Per

​

​

Net Income

​

​

Weighted

​

​

Per

​

​

​

​

Available

​

​

Average

​

​

Share

​

​

Available

​

​

Average

​

​

Share

​

​

Available

​

​

Average

​

​

Share

​

(in millions, except per share amounts)

​

to Ingredion

​

Shares

​

Amount

​

to Ingredion

​

Shares

​

Amount

​

to Ingredion

​

Shares

​

Amount

​

Basic EPS

​

$

348

​

67.2

​

$

5.18

​

$

413

​

66.9

​

$

6.17

​

$

443

​

70.9

​

$

6.25

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Effect of Dilutive Securities:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Incremental shares from assumed exercise of dilutive stock options and vesting of dilutive RSUs and other awards

​

​

​

​

0.4

​

​

​

​

​

​

​

0.5

​

​

​

​

​

​

​

0.9

​

​

​

​

Diluted EPS

​

$

348

​

67.6

​

$

5.15

​

$

413

​

67.4

​

$

6.13

​

$

443

​

71.8

​

$

6.17

​

Restricted stock units (RSUs) | Employee

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of restricted unit activity

​

​	​	​	​	​	​
​	​	​	​	Weighted
​	​	Number of	​	Average
​	​	Restricted	​	Fair Value
(shares in thousands)	​	Shares	​	per Share
Non-vested at December 31, 2019	​	339	​	$	108.02
Granted	​	196	​	​	87.01
Vested	​	(94)	​	​	117.33
Cancelled	​	(23)	​	​	101.72
Non-vested at December 31, 2020	​	418	​	$	96.45

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