Supplementary Information (Tables)

12 Months Ended

Dec. 31, 2020

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)	1^st QTR (a)		2^nd QTR (b)		3^rd QTR (c)		4^th 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)	1^st QTR (e)		2^nd QTR (f)		3^rd QTR (g)		4^th 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.