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Acquisitions
9 Months Ended
Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]  
Acquisitions 3. Acquisitions
PureCircle Non-Controlling Interests
During the quarter ended September 30, 2023, Ingredion purchased shares from minority shareholders in PureCircle Limited (“PureCircle”) for $2 million. These purchases increased our ownership percentage from 87 percent as of December 31, 2022 to 88 percent as of September 30, 2023.
During the three and nine months ended September 30, 2022, Ingredion purchased shares from minority shareholders in PureCircle for $13 million and $40 million, respectively. These purchases increased our ownership percentage in PureCircle from 75 percent as of December 31, 2021, to 85 percent as of September 30, 2022.
Other Acquisitions
On December 1, 2022, we acquired a 65 percent controlling interest in Mannitab Pharma Specialties Private Limited (“Mannitab”), an Indian manufacturer of spray dried and fine grade mannitol, for $22 million. We agreed to acquire the remaining 35 percent of Mannitab on or before March 2026. We recorded $19 million of goodwill and $9 million of definite-lived intangible assets on our Condensed Consolidated Financial Statements to reflect our controlling interest in Mannitab. Beginning at the acquisition date, our Condensed Consolidated Financial Statements reflect the effects of the acquisition and Mannitab’s financial results, which we report in our Asia-Pacific reportable business segment.
On August 1, 2022, we acquired Amishi Drugs and Chemicals Private Limited (“Amishi”) for $7 million, which added $3 million of goodwill and intangible assets to our Condensed Consolidated Financial Statements. Amishi is an Indian manufacturer of chemically modified starch-based pharmaceutical excipients. Beginning at the acquisition date, our Condensed Consolidated Financial Statements reflect the effects of the acquisition and Amishi’s financial results, which we report in our Asia-Pacific reportable business segment.