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Leases (Tables)

12 Months Ended

Dec. 31, 2021

Summary of components of lease expense


(in millions)		2021			2020			2019
Operating lease cost		$	58		$	58		$	55
Variable operating lease cost			26			29			24
Short term lease cost			4			4			3
Lease expense		$	88		$	91		$	82

Reconciliation of future undiscounted cash flows to the operating lease liabilities and the related ROU assets

The following is a reconciliation of future undiscounted cash flows to the operating lease liabilities and the related operating lease assets as presented within Other non-current liabilities and Other assets, respectively, on Ingredion’s Consolidated Balance Sheets as of December 31, 2021 ($ in millions):


2022		$	52
2023			43
2024			33
2025			24
2026			19
Thereafter			52
Total future lease payments			223
Less imputed interest			22
Present value of future lease payments			201
Less current lease liabilities			47
Non-current operating lease liabilities		$	154
Operating lease assets		$	193

Summary of other lease information


		Year Ended
Other Information		December 31,
($ in millions)		2021			2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$	58		$	60
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases		$	77		$	76
		As of				As of
		December 31, 2021				December 31, 2020
Weighted average remaining lease term:
Operating leases			6.5 years			5.5 years
Weighted average discount rate:
Operating leases			4.0	%		4.9	%