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Segment Information | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Segment Information | 10. Segment Information 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 starch 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. We divested our South Korea business on February 1, 2024 and its results are included in our consolidated financial results through the date of sale, which affects the comparability of results between years within All Other. Net sales by product are not presented because such presentation is not practicable. The following tables present information about 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
September 30, 2024 |  |  |  |  |  |  |  |  |  |
Net sales including intersegment sales |  | $ | 611 |  |  | $ | 633 |  |  | $ | 567 |  |  | $ | 106 |  |  | $ | 1,917 |
Less: Intersegment sales |  | (11) |  |  | (13) |  |  | (19) |  |  | (4) |  |  | (47) |
Net sales |  | $ | 600 |  |  | $ | 620 |  |  | $ | 548 |  |  | $ | 102 |  |  | $ | 1,870 |
September 30, 2023 |  |  |  |  |  |  |  |  |  |
Net sales including intersegment sales |  | $ | 625 |  |  | $ | 665 |  |  | $ | 621 |  |  | $ | 178 |  |  | $ | 2,089 |
Less: Intersegment sales |  | (26) |  |  | (7) |  |  | (22) |  |  | (1) |  |  | (56) |
Net sales |  | $ | 599 |  |  | $ | 658 |  |  | $ | 599 |  |  | $ | 177 |  |  | $ | 2,033 |
Nine Months Ended |  | T&HS |  | F&II - LATAM |  | F&II - U.S./Canada |  | All Other |  | Consolidated Totals
September 30, 2024 |  |  |  |  |  |  |  |  |  |
Net sales including intersegment sales |  | $ | 1,827 |  |  | $ | 1,899 |  |  | $ | 1,714 |  |  | $ | 346 |  |  | $ | 5,786 |
Less: Intersegment sales |  | (42) |  |  | (33) |  |  | (70) |  |  | (11) |  |  | (156) |
Net sales |  | $ | 1,785 |  |  | $ | 1,866 |  |  | $ | 1,644 |  |  | $ | 335 |  |  | $ | 5,630 |
September 30, 2023 |  |  |  |  |  |  |  |  |  |
Net sales including intersegment sales |  | $ | 1,966 |  |  | $ | 2,017 |  |  | $ | 1,883 |  |  | $ | 563 |  |  | $ | 6,429 |
Less: Intersegment sales |  | (84) |  |  | (26) |  |  | (72) |  |  | (8) |  |  | (190) |
Net sales |  | $ | 1,882 |  |  | $ | 1,991 |  |  | $ | 1,811 |  |  | $ | 555 |  |  | $ | 6,239 |
The following table presents information about our operating income (loss) by reportable segment and All Other for the periods presented:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Operating income (loss): |  |  |  |  |  |  |  |
Texture & Healthful Solutions |  | $ | 96 |  |  | $ | 86 |  |  | $ | 256 |  |  | $ | 318 |
Food & Industrial Ingredients - LATAM |  | 131 |  |  | 104 |  |  | 362 |  |  | 327 |
Food & Industrial Ingredients - U.S./Canada |  | 99 |  |  | 79 |  |  | 291 |  |  | 251 |
All Other |  | (4) |  |  | (1) |  |  | (18) |  |  | (6) |
Corporate |  | (40) |  |  | (49) |  |  | (123) |  |  | (124) |
Subtotal |  | 282 |  |  | 219 |  |  | 768 |  |  | 766 |
Restructuring and resegmentation costs |  | (6) |  |  | — |  |  | (12) |  |  | — |
Other matters |  | — |  |  | 4 |  |  | (9) |  |  | (1) |
Impairment charges |  | (8) |  |  | (10) |  |  | (26) |  |  | (10) |
Total operating income |  | $ | 268 |  |  | $ | 213 |  |  | $ | 721 |  |  | $ | 755 |
The Chief Operating Decision Maker 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 September 30, 2024 and December 31, 2023:
|  | As of September 30, 2024 |  | As of December 31, 2023
Property, plant and equipment, net: |  |  |  |
Texture & Healthful Solutions |  | $ | 867 |  |  | $ | 855 |
Food & Industrial Ingredients - LATAM |  | 520 |  |  | 552 |
Food & Industrial Ingredients - U.S./Canada |  | 543 |  |  | 548 |
All Other (a) |  | 402 |  |  | 415 |
Total Property, plant and equipment, net |  | $ | 2,332 |  |  | $ | 2,370 |
_____________________ (a)For purposes of presentation, All Other includes Corporate assets.

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