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Supplementary Information (Tables)
 12 Months Ended
Dec. 31, 2022
Supplementary Information  
Schedule of accounts receivable, net
Accounts receivable, net as of December 31, 2022 and 2021, consist of:
(in millions)20222021
Accounts receivable — trade$1,200 $950 
Accounts receivable — other228 193 
Allowance for credit losses(17)(13)
Total accounts receivable$1,411 $1,130 
Schedule of inventories
Inventories as of December 31, 2022 and 2021, consist of:
(in millions)20222021
Finished and in process$962 $688 
Raw materials539 380 
Manufacturing supplies96 104 
Total inventories$1,597 $1,172 
Schedule of PP&E
PP&E as of December 31, 2022 and 2021, consists of:
(in millions)20222021
Land$199 $206 
Buildings854 812 
Machinery and equipment4,680 4,637 
Property, plant and equipment, at cost5,733 5,655 
Accumulated depreciation(3,326)(3,232)
Property, plant and equipment, net$2,407 $2,423 
Schedule of accrued liabilities
Accrued liabilities as of December 31, 2022 and 2021, consist of:
(in millions)20222021
Compensation-related costs$112 $105 
Current lease liabilities48 47 
Dividends payable47 44 
Taxes payable other than income taxes45 44 
Other accrued liabilities214 190 
Total accrued liabilities$466 $430 
Schedule of other non-current liabilities
Other non-current liabilities as of December 31, 2022 and 2021, consist of:
(in millions)20222021
Deferred tax liabilities$145 $165 
Non-current operating lease liabilities146 154 
Pension and postretirement liabilities101 123 
Other85 82 
Total other non-current liabilities$477 $524 
Schedule of supplemental cash flow information
The following represents additional cash flow information for 2022, 2021 and 2020:
(in millions)202220212020
Interest paid$82 $72 $78 
Income taxes paid187 168 120 
Schedule of quarterly financial data
Earnings per share for each quarter and the year are calculated individually and may not sum to the total for the respective year. Summarized quarterly financial data is as follows:
(in millions, except per share amounts)
1st QTR (b)
2nd QTR (c)
3rd QTR (d)
4th QTR (e)
2022
Net sales$1,892 $2,044 $2,023 $1,987 
Gross profit379 390 374 351 
Net income attributable to Ingredion130 142 106 114 
Basic earnings per common share of Ingredion1.94 2.14 1.61 1.73 
Diluted earnings per common share of Ingredion1.92 2.12 1.59 1.71 
Per share dividends declared$0.65 $0.65 $0.71 $0.71 
(in millions, except per share amounts)
1st QTR (f)
2nd QTR (g)
3rd QTR (h)
4th QTR (i)
2021
Net sales$1,614 $1,762 $1,763 $1,755 
Gross profit351 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 
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(a)
All items in the footnotes below are presented after-tax unless otherwise noted.
(b)
In the first quarter of 2022, Ingredion recorded $2 million in net restructuring costs, $1 million in acquisition/integration costs and $1 million benefit for tax matters.
(c)
In the second quarter of 2022, Ingredion recorded $1 million in net restructuring costs and $1 million benefit for tax matters.
(d)
In the third quarter of 2022, Ingredion recorded $7 million in charges for other matters and $2 million in charges for tax matters.
(e)
In the fourth quarter of 2022, Ingredion recorded $16 million in benefit for tax matters, $8 million in charges for other matters and $4 million in net acquisition/integration costs.
(f)
In the first quarter of 2021, Ingredion recorded $360 million in held for sale impairment charges related to the Argentina 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.
(g)
In the second quarter of 2021, Ingredion recorded $32 million in benefit 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.
(h)
In the third quarter of 2021, Ingredion recorded a $20 million favorable adjustment to the impairment charges related to the Argentina 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.
(i)
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.