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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 257 $ 236
Short-term investments 6 3
Accounts receivable, net 1,366 1,411
Inventories 1,618 1,597
Prepaid expenses 64 62
Total current assets 3,311 3,309
Property, plant and equipment, net of accumulated depreciation of $3,434 and $3,326, respectively 2,414 2,407
Intangible assets, net of accumulated amortization of $287 and $275, respectively 1,311 1,301
Other assets 564 544
Total assets 7,600 7,561
Current liabilities:    
Short-term borrowings 522 543
Accounts payable and accrued liabilities 1,198 1,339
Total current liabilities 1,720 1,882
Long-term debt 1,939 1,940
Other non-current liabilities 466 477
Total liabilities 4,125 4,299
Share-based payments subject to redemption 43 48
Redeemable non-controlling interests 43 51
Ingredion stockholders’ equity:    
Preferred stock — authorized 25,000,000 shares — $0.01 par value, none issued 0 0
Common stock — authorized 200,000,000 shares — $0.01 par value, 77,810,875 issued at June 30, 2023 and December 31, 2022 1 1
Additional paid-in capital 1,142 1,132
Less: Treasury stock (common stock: 11,688,205 and 12,116,920 shares at June 30, 2023 and December 31, 2022, respectively) at cost (1,116) (1,148)
Accumulated other comprehensive loss (1,119) (1,048)
Retained earnings 4,469 4,210
Total Ingredion stockholders’ equity 3,377 3,147
Non-redeemable non-controlling interests 12 16
Total equity 3,389 3,163
Total liabilities and equity $ 7,600 $ 7,561