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Supplementary Information (Tables) | 12 Months Ended
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Dec. 31, 2021
Supplementary Information |
Schedule of accounts receivable, net | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions) |  | 2021 |  | 2020 |
Accounts receivable — trade | ​ | $ | 950 | ​ | $ | 855 | ​
Accounts receivable — other | ​ | ​ | 193 | ​ | ​ | 170 | ​
Allowance for credit losses | ​ | ​ | (13) | ​ | ​ | (14) | ​
Total accounts receivable | ​ | $ | 1,130 | ​ | $ | 1,011 | ​
Schedule of inventories | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions) |  | 2021 |  | 2020
Finished and in process | ​ | $ | 688 | ​ | $ | 584
Raw materials | ​ |  | 380 | ​ |  | 236
Manufacturing supplies | ​ |  | 104 | ​ |  | 97
Total inventories | ​ | $ | 1,172 | ​ | $ | 917
Schedule of PP&E | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions) |  | 2021 |  | 2020
Land |  | $ | 206 |  | $ | 207
Buildings |  | ​ | 812 |  | ​ | 802
Machinery and equipment |  | ​ | 4,637 |  | ​ | 4,621
Property, plant and equipment, at cost |  | ​ | 5,655 |  | ​ | 5,630
Accumulated depreciation |  | ​ | (3,232) |  | ​ | (3,175)
Property, plant and equipment, net |  | $ | 2,423 |  | $ | 2,455
Schedule of accrued liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions) |  | 2021 |  | 2020
Compensation-related costs | ​ | $ | 105 | ​ | $ | 96
Current lease liabilities | ​ | ​ | 47 | ​ | ​ | 46
Dividends payable | ​ | ​ | 44 | ​ | ​ | 43
Taxes payable other than income taxes | ​ | ​ | 44 | ​ | ​ | 44
Other accrued liabilities | ​ |  | 190 | ​ |  | 192
Total accrued liabilities | ​ | $ | 430 | ​ | $ | 421
Schedule of other non-current liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions) |  | 2021 |  | 2020 | ​
Deferred tax liabilities | ​ | $ | 165 | ​ | $ | 217 | ​
Non-current operating lease liabilities | ​ | ​ | 154 | ​ | ​ | 136 | ​
Pension and postretirement liabilities | ​ | ​ | 123 | ​ | ​ | 139 | ​
Other | ​ | ​ | 82 | ​ | ​ | 88 | ​
Total other non-current liabilities | ​ | $ | 524 | ​ | $ | 580 | ​
Schedule of supplemental cash flow information | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions) |  | 2021 |  | 2020 |  | 2019 |
Interest paid | ​ | $ | 72 | ​ | $ | 78 | ​ | $ | 80 | ​
Income taxes paid | ​ | ​ | 168 | ​ | ​ | 120 | ​ | ​ | 145 | ​
Schedule of quarterly financial data |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions, except per share amounts) |  | 1st QTR (b) |  | 2nd QTR (c) |  | 3rd QTR (d) |  | 4th QTR (e) |
2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net sales | ​ | $ | 1,614 | ​ | $ | 1,762 | ​ | $ | 1,763 | ​ | $ | 1,755 | ​
Gross profit | ​ | ​ | 351 | ​ | ​ | 367 | ​ | ​ | 323 | ​ | ​ | 290 | ​
Net income attributable to Ingredion | ​ | ​ | (246) | ​ | ​ | 178 | ​ | ​ | 118 | ​ | ​ | 67 | ​
Basic earnings per common share of Ingredion | ​ | ​ | (3.66) | ​ | ​ | 2.65 | ​ | ​ | 1.76 | ​ | ​ | 1.00 | ​
Diluted earnings per common share of Ingredion | ​ | ​ | (3.66) | ​ | ​ | 2.62 | ​ | ​ | 1.75 | ​ | ​ | 0.99 | ​
Per share dividends declared | ​ | $ | 0.64 | ​ | $ | 0.64 | ​ | $ | 0.65 | ​ | $ | 0.65 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in millions, except per share amounts) |  | 1st QTR (e) |  | 2nd QTR (f) |  | 3rd QTR (g) |  | 4th QTR (h) |
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 | ​
| (a) | All items in the footnotes below are presented after-tax unless otherwise noted.
| (b) | In the first quarter of 2021, Ingredion recorded $360 million in held for sale impairment charges related to the Arcor joint venture with no income tax benefit, $8 million in net restructuring costs, $3 million in charges for tax matters and $1 million in acquisition/integration costs.
| (c) | In the second quarter of 2021, Ingredion recorded $32 million in income for tax matters, $10 million in other matters income, $4 million in acquisition/integration costs, $3 million in equity method acquisition benefits and $2 million in net restructuring costs.
| (d) | In the third quarter of 2021, Ingredion recorded a $20 million favorable adjustment to the impairment charges related to the Arcor joint venture with no income tax expense, $7 million in net restructuring costs, $4 million in acquisition/integration costs and $4 million in charges for tax matters.
| (e) | In the fourth quarter of 2021, Ingredion recorded $19 million in net restructuring and impairment costs, $12 million in benefits for other matters, $5 million in benefits for fair value adjustments to equity investments, $4 million in charges for tax matters and $1 million in net acquisition/integration costs.
| (f) | In the first quarter of 2020, Ingredion recorded $11 million in net restructuring costs.
| (g) | In the second quarter of 2020, Ingredion recorded $8 million in net restructuring costs and $2 million in acquisition/integration costs.
| (h) | In the third quarter of 2020, Ingredion recorded $15 million in net restructuring costs, $6 million in charges for other tax matters, $4 million in acquisition/integration costs, $4 million in charges for early extinguishment of debt, $3 million in charges for fair value markup of acquired inventory and $2 million in North America storm damage costs.
| (i) | In the fourth quarter of 2020, Ingredion recorded $40 million in net restructuring and impairment costs, $27 million in income for other matters, $4 million in acquisition/integration costs, $3 million in income for other tax matters, $1 million in charges for fair value markup of acquired inventory and $1 million in North America storm damage costs.

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