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Commitments and Contingencies | 12 Months Ended
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Dec. 31, 2021
Commitments and Contingencies |
Commitments and Contingencies | ​ NOTE 14 – Commitments and Contingencies ​ In January 2019, Ingredion’s Brazilian subsidiary received a favorable decision from the Federal Court of Appeals (“Lower Court”) in Sao Paulo, Brazil, related to certain indirect taxes collected in prior years (referred as “Brazil indirect tax matters” in these financial statements). Ingredion finalized its calculation of the amount of the credits and interest due from the favorable decision, concluding that Ingredion could be entitled to approximately $66 million of credits spanning a period from 2005 to 2018. The Department of Federal Revenue of Brazil, however, issued an Internal Ruling in which it charged that Ingredion was entitled to only $22 million of the calculated indirect tax credits and interest for the period from 2005 to 2014. As a result of the Internal Ruling, Ingredion recorded $22 million in pre-tax benefits in Other operating (income) in the Consolidated Statements of Income in 2019. ​ The Brazil National Treasury filed a motion for clarification with the Brazilian Supreme Court (“Court”), asking the Court, among other things, to modify the Lower Court’s decision to approve the Internal Ruling. In 2020, Ingredion received another favorable Lower Court judgment that clarified the calculation of Ingredion’s benefit, allowing Ingredion to claim gross treatment within the indirect tax claim calculation and a larger indirect tax claim against the government. As a result of the decision, Ingredion recorded an additional $35 million pre-tax benefit in the Consolidated Income Statements in Other operating (income) in 2020 related to the open period of 2005 to 2014. ​ In May 2021, the Court issued its ruling related to the calculation of certain indirect taxes, which affirmed the Lower Court rulings that Ingredion had received in previous years and affirmed that Ingredion is entitled to the previously recorded tax credits. The Court ruling ensures that Ingredion will be entitled to $15 million of additional credits from the period of 2015 to 2018 that was previously unrecorded pending a final Court ruling. Ingredion recorded the $15 million of additional credits in 2021 within Other operating (income) in the Consolidated Statements of Income. As of December 31, 2021, Ingredion has $41 million of remaining indirect tax credits recorded in Other assets and Prepaid expenses on the Consolidated Balance Sheets that result in deferred income taxes of $5 million. Ingredion will use the income tax offsets to eliminate its Brazilian federal tax payments in 2022 and future years, including the income tax payable for the indirect taxes recovered. ​ Ingredion is currently subject to claims and suits arising in the ordinary course of business, including labor matters, certain environmental proceedings and other commercial claims. Ingredion also routinely receives inquiries from regulators and other government authorities relating to various aspects of its business, including with respect to compliance with laws and regulations relating to the environment, and at any given time, Ingredion has matters at various stages of resolution with the applicable governmental authorities. The outcomes of these matters are not within Ingredion’s complete control and may not be known for prolonged periods of time. Ingredion does not believe that the results of currently known legal proceedings and inquires will be material to it. There can be no assurance, however, that such claims, suits or investigations or those arising in the future, whether taken individually or in the aggregate, will not have a material adverse effect on Ingredion’s financial condition or results of operations. ​

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