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Segment Information
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment Information Segment Information
We are principally engaged in the production and sale of starches and sweeteners for a wide range of industries and we are managed geographically on a regional basis. The nature, amount, timing and uncertainty of our Net sales are managed by us primarily based on our geographic segments, which we classify and report as North America, South America, Asia-Pacific and EMEA. Our North America segment includes businesses in the U.S., Mexico and Canada. Our South America segment includes businesses and our share of earnings from investments in joint ventures in Brazil, Colombia, Peru, Ecuador and Argentina. Our Asia-Pacific segment includes businesses in Thailand, China, Japan, Australia, Indonesia, India, the Philippines, Malaysia, Singapore, New Zealand, Vietnam and previously South Korea, in which we sold our business on February 1, 2024, as more fully described in Note 2. Our EMEA segment includes businesses in Germany, Pakistan, the United Kingdom, South Africa and Poland.
In November 2023, we announced plans to reorganize our business operations, which will result in a change to our reportable business segments. Once the reorganization is complete, which we expect to occur in 2024, we anticipate that our production assets and commercial efforts will align with a global focus on Texture and Healthful Solutions, a local focus on Food and Industrial Ingredients, and other businesses. We will continue to report our results using the existing reportable segment structure until the new segments are operational and discrete financial information consistent with the new segments is being provided to our Chief Operating Decision Maker.
Net sales to unaffiliated customers by reportable segment are as follows:
202320222021
Net sales to unaffiliated customers:
North America$5,188 $4,934 $4,137 
South America1,062 1,124 1,057 
Asia-Pacific1,089 1,107 997 
EMEA821 781 703 
Total net sales$8,160 $7,946 $6,894 
No customer accounted for 10 percent or more of our net sales in 2023, 2022 or 2021.
Operating income by reportable segment is as follows:
202320222021
Operating income:
North America$718 $565 $487 
South America142 169 138 
Asia-Pacific126 93 87 
EMEA 156 110 106 
Corporate(173)(150)(133)
Subtotal969 787 685 
Acquisition/integration costs— (1)(3)
Restructuring/impairment charges(11)(4)(47)
Impairment on disposition of assets— — (340)
Other matters(1)(20)15 
Total operating income$957 $762 $310 
Total assets by reportable segment as of December 31, 2023 and 2022 are as follows:
As of December 31,
20232022
Assets:
North America (a)
$4,485 $4,499 
South America980 949 
Asia-Pacific1,479 1,467 
EMEA698 646 
Total assets$7,642 $7,561 
_____________________
(a)For purposes of presentation, North America includes Corporate assets.
Depreciation and amortization, mechanical stores expense and capital expenditures and mechanical stores purchases by reportable segment are as follows:
202320222021
Depreciation and amortization:
North America (a)
$146 $145 $146 
South America19 18 18 
Asia-Pacific39 37 40 
EMEA15 15 16 
Total$219 $215 $220 
Mechanical stores expense (b):
North America (a)
$47 $43 $43 
South America6 4 6 
Asia-Pacific5 4 3 
EMEA4 4 3 
Total$62 $55 $55 
Capital expenditures and mechanical stores purchases:
North America (a)
$183 $178 $166 
South America42 31 38 
Asia-Pacific68 72 81 
EMEA23 19 15 
Total$316 $300 $300 
_____________________
(a)North America includes Corporate activities.
(b)Represents costs for spare parts used in the production process that are recorded in PP&E as part of machinery and equipment until they are utilized in the manufacturing process and expensed as a period cost.
Net sales to unaffiliated customers by country of origin are as follows:
202320222021
U.S.$3,069 $2,978 $2,509 
Mexico1,571 1,444 1,170 
Brazil669 720 586 
Canada548 512 459 
Germany413 342 309 
Colombia332 333 260 
South Korea325 356 323 
Others1,233 1,261 1,278 
Total$8,160 $7,946 $6,894 
Long-lived assets (excluding intangible assets and deferred tax assets) by country as of December 31, 2023 and 2022 are as follows:
20232022
U.S.$1,312 $1,289 
Mexico294 309 
Canada288 273 
Brazil235 209 
China164 144 
Thailand 162 153 
Germany133 126 
Others338 435 
Total$2,926 $2,938