Supplementary Information (Tables)

12 Months Ended

Dec. 31, 2021


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