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Segment Information | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Segment Information | 10. Segment Information Effective January 1, 2024, we changed our reportable segments to align them with changes in how our Chief Executive Officer, as the Chief Operating Decision Maker (“CODM”), manages the business, evaluates performance, and allocates resources. Our revised reportable segments consist of (1) Texture & Healthful Solutions (“T&HS”), (2) F&II - LATAM, and (3) F&II - U.S./Canada. In All Other, we include the business in Pakistan, PureCircle, Sugar Reduction, Protein Fortification, and South Korea until its sale on February 1, 2024. We are principally engaged in the production and sale of starches and sweeteners for a wide range of industries. Our T&HS segment has a global focus and primarily manufactures texturizing food ingredients. Our F&II - LATAM segment has a local focus and primarily manufactures food, ingredient, and industrial products, which we process from raw materials that we primarily source within South America and Mexico. Our F&II - U.S./Canada segment has a local focus and primarily manufactures food, ingredient, and industrial products, which we process from raw materials sourced within the U.S. and Canada. All Other consists of the businesses of multiple operating segments that are not individually or collectively classified as reportable segments. Revenues from All Other are generated primarily by sweetener and starches sales by our Pakistan business, sales of stevia and other ingredients from our PureCircle and Sugar Reduction businesses, and pea protein ingredients from our Protein Fortification business. Net sales by product are not presented because such presentation is not practicable. Presented below are our net sales to affiliated and unaffiliated customers by reportable segment and All Other for the periods presented:
Three months ended |  | T&HS |  | F&II - LATAM |  | F&II - U.S./Canada |  | All Other |  |  |  | Consolidated Totals
March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Net sales including intersegment sales |  | $ | 612 |  |  | $ | 626 |  |  | $ | 567 |  |  | $ | 131 |  |  |  |  | $ | 1,936 |
Less: Intersegment sales |  | $ | (15) |  |  | $ | (10) |  |  | $ | (26) |  |  | $ | (3) |  |  |  |  | $ | (54) |
Net sales |  | $ | 597 |  |  | $ | 616 |  |  | $ | 541 |  |  | $ | 128 |  |  |  |  | $ | 1,882 |
March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Net sales including intersegment sales |  | $ | 698 |  |  | $ | 677 |  |  | $ | 635 |  |  | $ | 201 |  |  |  |  | $ | 2,211 |
Less: Intersegment sales |  | $ | (33) |  |  | $ | (10) |  |  | $ | (27) |  |  | $ | (4) |  |  |  |  | $ | (74) |
Net sales |  | $ | 665 |  |  | $ | 667 |  |  | $ | 608 |  |  | $ | 197 |  |  |  |  | $ | 2,137 |
Presented below is our operating income by reportable segment and All Other for the periods presented:
|  | Three Months Ended March 31,
|  | 2024 |  | 2023
Operating income (loss): |  |  |  |
Texture & Healthful Solutions |  | $ | 74 |  |  | $ | 127 |
Food & Industrial Ingredients - LATAM |  | 101 |  |  | 122 |
Food & Industrial Ingredients - U.S./Canada |  | 87 |  |  | 92 |
All Other |  | (4) |  |  | (8) |
Corporate |  | (42) |  |  | (37) |
Subtotal |  | 216 |  |  | 296 |
Resegmentation costs |  | (3) |  |  | — |
Other matters |  | — |  |  | (5) |
Total operating income |  | $ | 213 |  |  | $ | 291 |
The CODM evaluates performance, makes strategic decisions, and allocates resources based on Property, plant and equipment, net for internal and external reporting purposes. Presented below is Property, plant and equipment, net by reportable segment and All Other as of March 31, 2024 and December 31, 2023:
|  | As of March 31, 2024 |  | As of December 31, 2023
Property, plant and equipment, net: |  |  |  |
Texture & Healthful Solutions |  | $ | 838 |  |  | $ | 855 |
Food & Industrial Ingredients - LATAM |  | 543 |  |  | 552 |
Food & Industrial Ingredients - U.S./Canada |  | 542 |  |  | 548 |
All Other (a) |  | 411 |  |  | 415 |
Total Property, plant and equipment, net |  | $ | 2,334 |  |  | $ | 2,370 |
_____________________ (a)For purposes of presentation, All Other includes Corporate assets.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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