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Equity (Tables) | 3 Months Ended
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Mar. 31, 2021
Equity |
Schedule of stock based compensation expense | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​
​ | ​ | March 31, | ​
(in millions) |  | 2021 |  | 2020 |
Stock options: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pre-tax compensation expense |  | $ | 1 | ​ | $ | 1 | ​
Income tax benefit | ​ |  | — | ​ |  | — | ​
Stock option expense, net of income taxes | ​ |  | 1 | ​ |  | 1 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Restricted stock units ("RSUs"): | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pre-tax compensation expense | ​ |  | 3 | ​ |  | 3 | ​
Income tax benefit | ​ |  | — | ​ |  | (1) | ​
RSUs, net of income taxes | ​ |  | 3 | ​ |  | 2 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Performance shares and other share-based awards: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pre-tax compensation expense | ​ |  | 1 | ​ |  | 2 | ​
Income tax benefit | ​ |  | — | ​ |  | — | ​
Performance shares and other share-based compensation expense, net of income taxes | ​ |  | 1 | ​ |  | 2 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total share-based compensation: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pre-tax compensation expense | ​ |  | 5 | ​ |  | 6 | ​
Income tax benefit | ​ |  | — | ​ |  | (1) | ​
Total share-based compensation expense, net of income taxes |  | $ | 5 | ​ | $ | 5 | ​
Schedule of valuation assumptions for stock options | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, | ​
​ |  | 2021 | ​ | 2020 | ​
Expected life (in years) | ​ | 5.5 | ​ | ​ | 5.5 | ​ | ​
Risk-free interest rate | ​ | 0.6 | % | ​ | 1.4 | % |
Expected volatility | ​ | 23.2 | % | ​ | 19.8 | % | ​
Expected dividend yield | ​ | 2.9 | % | ​ | 2.9 | % | ​
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, 2020 |  | 2,238 |  | $ | 86.55 | ​ | 5.15 | ​ | $ | 14 | ​
Granted |  | 358 | ​ | ​ | 87.12 | ​ | ​ | ​ | ​ | ​ | ​
Exercised |  | (154) | ​ | ​ | 56.35 | ​ | ​ | ​ | ​ | ​ | ​
Cancelled |  | (27) | ​ | ​ | 94.39 | ​ | ​ | ​ | ​ | ​ | ​
Outstanding as of March 31, 2021 |  | 2,415 | ​ | $ | 88.68 |  | 5.89 |  | $ | 20 | ​
Exercisable as of March 31, 2021 |  | 1,775 | ​ | $ | 88.90 |  | 4.66 |  | $ | 19 | ​
​
Schedule of additional information pertaining to stock option activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​
​ | ​ | March 31, | ​
(dollars in millions, except per share) |  | 2021 |  | 2020 |
Weighted average grant date fair value of stock options granted (per share) | ​ | $ | 12.31 | ​ | $ | 11.48 | ​
Total intrinsic value of stock options exercised | ​ | $ | 5 | ​ | $ | 4 | ​
Schedule of restricted unit activity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(RSUs in thousands) |  | Number of Restricted Shares |  | Weighted Average Fair Value per Share | ​
Non-vested as of December 31, 2020 | ​ | 418 | ​ | $ | 96.45 | ​
Granted | ​ | 214 | ​ | ​ | 87.25 | ​
Vested | ​ | (83) | ​ | ​ | 126.67 | ​
Cancelled | ​ | (12) | ​ | ​ | 91.19 | ​
Non-vested as of March 31, 2021 | ​ | 537 | ​ | $ | 88.28 | ​
Summary of net changes in accumulated other comprehensive loss | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions) |  | Cumulative Translation Adjustment |  | Hedging Activities |  | Pension and Postretirement Adjustment |  | Accumulated Other Comprehensive Loss |
Balance, December 31, 2020 | ​ | $ | (1,114) | ​ | $ | 42 | ​ | $ | (61) | ​ | $ | (1,133) | ​
Other comprehensive (loss) gain before reclassification adjustments | ​ | ​ | (52) | ​ | ​ | 29 | ​ | ​ | — | ​ | ​ | (23) | ​
(Gain) reclassified from accumulated OCL | ​ | ​ | — | ​ | ​ | (1) | ​ | ​ | — | ​ | ​ | (1) | ​
Tax (provision) | ​ | ​ | — | ​ | ​ | (7) | ​ | ​ | — | ​ | ​ | (7) | ​
Net other comprehensive (loss) income | ​ | ​ | (52) | ​ | ​ | 21 | ​ | ​ | — | ​ | ​ | (31) | ​
Balance, March 31, 2021 | ​ | $ | (1,166) | ​ | $ | 63 | ​ | $ | (61) | ​ | $ | (1,164) | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions) |  | Cumulative Translation Adjustment |  | Hedging Activities |  | Pension and Postretirement Adjustment |  | Accumulated Other Comprehensive Loss |
Balance, December 31, 2019 | ​ | $ | (1,089) | ​ | $ | (9) | ​ | $ | (60) | ​ | $ | (1,158) | ​
Other comprehensive (loss) before reclassification adjustments | ​ | ​ | (134) | ​ | ​ | (46) | ​ | ​ | — | ​ | ​ | (180) | ​
Loss reclassified from accumulated OCL | ​ | ​ | — | ​ | ​ | 6 | ​ | ​ | — | ​ | ​ | 6 | ​
Tax benefit | ​ | ​ | — | ​ | ​ | 10 | ​ | ​ | — | ​ | ​ | 10 | ​
Net other comprehensive loss | ​ | ​ | (134) | ​ | ​ | (30) | ​ | ​ | — | ​ | ​ | (164) | ​
Balance, March 31, 2020 | ​ | $ | (1,223) | ​ | $ | (39) | ​ | $ | (60) | ​ | $ | (1,322) | ​
Schedule of stockholders equity and redeemable equity | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Total Equity | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Non- | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Accumulated | ​ | ​ | ​ | ​ | Redeemable | Share-based | ​ | Redeemable | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Additional | ​ | ​ | ​ | ​ | Other | ​ | ​ | ​ | ​ | Non- | ​ | Payments | ​ | Non- | ​
​ | ​ | Preferred | ​ | Common | ​ | Paid-In | ​ | Treasury | ​ | Comprehensive | ​ | Retained | ​ | Controlling | ​ | Subject to | ​ | Controlling | ​
(in millions) |  | Stock |  | Stock |  | Capital |  | Stock |  | Loss |  | Earnings |  | Interests |  | Redemption |  | Interests |
Balance, December 31, 2020 | ​ | $ | — | ​ | $ | 1 | ​ | $ | 1,150 | ​ | $ | (1,024) | ​ | $ | (1,133) | ​ | $ | 3,957 | ​ | $ | 21 | ​ | $ | 30 | ​ | $ | 70 | ​
Net (loss) attributable to Ingredion | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (246) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income attributable to non-controlling interests | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 4 | ​ | ​ | ​ | ​ | ​ | (1) | ​
Dividends declared, common stock ($0.64/share) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (44) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Repurchases of common stock | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (14) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Share-based compensation, net of issuance | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 5 | ​ | ​ | 16 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (9) | ​ | ​ | ​ | ​
Other comprehensive loss | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (31) | ​ | ​ | ​ | ​ | ​ | 1 | ​ | ​ | ​ | ​ | ​ | 1 | ​
Balance, March 31, 2021 | ​ | $ | — | ​ | $ | 1 | ​ | $ | 1,155 | ​ | $ | (1,022) | ​ | $ | (1,164) | ​ | $ | 3,667 | ​ | $ | 26 | ​ | $ | 21 | ​ | $ | 70 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Total Equity | ​ | ​ | ​ | ​ | ​ | ​ |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Non- | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Accumulated | ​ | ​ | ​ | ​ | Redeemable | Share-based | ​ | Redeemable |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Additional | ​ | ​ | ​ | ​ | Other | ​ | ​ | ​ | ​ | Non- | ​ | Payments | ​ | Non- | ​
​ | ​ | Preferred | ​ | Common | ​ | Paid-In | ​ | Treasury | ​ | Comprehensive | ​ | Retained | ​ | Controlling | ​ | Subject to | ​ | Controlling |
(in millions) |  | Stock |  | Stock |  | Capital |  | Stock |  | Loss |  | Earnings |  | Interests |  | Redemption |  | Interests |
Balance, December 31, 2019 | ​ | $ | — | ​ | $ | 1 | ​ | $ | 1,137 | ​ | $ | (1,040) | ​ | $ | (1,158) | ​ | $ | 3,780 | ​ | $ | 21 | ​ | $ | 31 | ​ | $ | — | ​
Net income attributable to Ingredion | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 75 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income attributable to non-controlling interests | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 3 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dividends declared, common stock ($0.63/share) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (42) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Repurchases of common stock | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Share-based compensation, net of issuance | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 5 | ​ | ​ | 12 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (8) | ​ | ​ | ​ | ​
Other comprehensive loss | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (164) | ​ | ​ | ​ | ​ | ​ | (3) | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance, March 31, 2020 | ​ | $ | — | ​ | $ | 1 | ​ | $ | 1,142 | ​ | $ | (1,028) | ​ | $ | (1,322) | ​ | $ | 3,813 | ​ | $ | 21 | ​ | $ | 23 | ​ | $ | — | ​
Schedule of basic and diluted earnings per common share | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
| ​ | Three Months Ended March 31, 2021 |  | Three Months Ended March 31, 2020 |
(in millions, except per share amounts) |  | Net Income Available to Ingredion |  | Weighted Average Shares |  | Per Share Amount |  | Net Income Available to Ingredion |  | Weighted Average Shares |  | Per Share Amount |
Basic EPS | ​ | $ | (246) |  | 67.3 | ​ | $ | (3.66) | ​ | $ | 75 |  | 67.1 | ​ | $ | 1.12 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Effect of Dilutive Securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Incremental shares from assumed exercise of dilutive stock options and vesting of dilutive RSUs and other awards | ​ | ​ | ​ |  | — | ​ | ​ | ​ | ​ | ​ | ​ |  | 0.7 | ​ | ​ | ​ | ​
Diluted EPS | ​ | $ | (246) |  | 67.3 | ​ | $ | (3.66) | ​ | $ | 75 |  | 67.8 | ​ | $ | 1.11 | ​
​

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- Definition Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented. Also includes tabular disclosure of changes in temporary equity. + References No definition available. + Details
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