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Equity (Tables) | 12 Months Ended
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Dec. 31, 2024
Stockholders' Equity Note [Abstract] |
Schedule of reconciliation of common stock share activity | Common stock share activity for 2024, 2023 and 2022 was as follows:
(Shares of common stock, in thousands) |  | Issued |  | Held in Treasury |  | Outstanding
Balance at December 31, 2021 |  | 77,811 |  | 11,154 |  | 66,657
Issuance of restricted stock units as compensation |  | — |  | (95) |  | 95
Performance shares and other share-based awards |  | — |  | (43) |  | 43
Stock options exercised |  | — |  | (182) |  | 182
Purchase/acquisition of treasury stock |  | — |  | 1,283 |  | (1,283)
Balance at December 31, 2022 |  | 77,811 |  | 12,117 |  | 65,694
Issuance of restricted stock units as compensation |  | — |  | (108) |  | 108
Performance shares and other share-based awards |  | — |  | (51) |  | 51
Stock options exercised |  | — |  | (386) |  | 386
Purchase/acquisition of treasury stock |  | — |  | 1,000 |  | (1,000)
Balance at December 31, 2023 |  | 77,811 |  | 12,572 |  | 65,239
Issuance of restricted stock units as compensation |  | — |  | (127) |  | 127
Performance shares and other share-based awards |  | — |  | (145) |  | 145
Stock options exercised |  | — |  | (635) |  | 635
Purchase/acquisition of treasury stock |  | — |  | 1,652 |  | (1,652)
Balance at December 31, 2024 |  | 77,811 |  | 13,317 |  | 64,494
Schedule of stock based compensation expense | Share-based payments: Share-based compensation expense for 2024, 2023 and 2022 was as follows:
|  | 2024 |  | 2023 |  | 2022
Stock options: |  |  |  |  |  |
Pre-tax compensation expense |  | $ | 5 |  |  | $ | 4 |  |  | $ | 4 |
Income tax benefit |  | — |  |  | — |  |  | — |
Stock option expense, net of income taxes |  | 5 |  |  | 4 |  |  | 4 |
Restricted stock units (“RSUs”): |  |  |  |  |  |
Pre-tax compensation expense |  | 18 |  |  | 15 |  |  | 13 |
Income tax benefit |  | (2) |  |  | (2) |  |  | (1) |
RSUs, net of income taxes |  | 16 |  |  | 13 |  |  | 12 |
Performance shares and other share-based awards: |  |  |  |  |  |
Pre-tax compensation expense |  | 14 |  |  | 14 |  |  | 12 |
Income tax benefit |  | (1) |  |  | (1) |  |  | (1) |
Performance shares and other share-based compensation expense, net of income taxes |  | 13 |  |  | 13 |  |  | 11 |
Total share-based compensation: |  |  |  |  |  |
Pre-tax compensation expense |  | 37 |  |  | 33 |  |  | 29 |
Income tax benefit |  | (3) |  |  | (3) |  |  | (2) |
Total share-based compensation expense, net of income taxes |  | $ | 34 |  |  | $ | 30 |  |  | $ | 27 |
Schedule of valuation assumptions for stock options | The fair value of each option grant was estimated using the Black-Scholes option-pricing model with the following assumptions:
|  | For the Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Expected life (in years) |  | 5.5 |  | 5.5 |  | 5.5
Risk-free interest rate |  | 4.2 | % |  | 4.0 | % |  | 2.0 | %
Expected volatility |  | 28.1 | % |  | 28.3 | % |  | 23.8 | %
Expected dividend yield |  | 2.9 | % |  | 2.9 | % |  | 2.9 | %
Schedule of stock option transactions | Stock option activity in 2024 was as follows:
|  | Number of Options (in thousands) |  | Weighted Average Exercise Price per Share |  | Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value (in millions)
Outstanding as of December 31, 2023 |  | 1,953 |  | $ | 96.61 |  |  | 5.0 |  | $ | 29 |
Granted |  | 178 |  | 108.38 |  |  |  |  |
Exercised |  | (635) |  | 91.71 |  |  |  |  |
Cancelled |  | (43) |  | 101.45 |  |  |  |  |
Outstanding as of December 31, 2024 |  | 1,453 |  | $ | 100.04 |  |  | 5.6 |  | $ | 55 |
Exercisable as of December 31, 2024 |  | 1,103 |  | $ | 99.67 |  |  | 5.7 |  | $ | 42 |
Schedule of additional information pertaining to stock option activity | Additional information pertaining to stock option activity is as follows:
|  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Weighted average grant date fair value of stock options granted (per share) |  | $ | 26.33 |  |  | $ | 23.80 |  |  | $ | 15.04 |
Total intrinsic value of stock options exercised |  | 24 |  |  | 13 |  |  | 6 |
Schedule of restricted unit activity | RSU activity in 2024 was as follows:
|  | Number of Restricted Shares (in thousands) |  | Weighted Average Fair Value per Share
Non-vested as of December 31, 2023 |  | 552 |  | $ | 92.05 |
Granted |  | 213 |  | 109.04 |
Vested |  | (180) |  | 87.75 |
Cancelled |  | (47) |  | 95.84 |
Non-vested as of December 31, 2024 |  | 538 |  | $ | 99.58 |
Summary of net changes in accumulated other comprehensive loss | A summary of Accumulated other comprehensive loss (“AOCL”) for 2024, 2023 and 2022 is presented below:
|  | Cumulative Translation Adjustment |  | Hedging Activities |  | Pension and Postretirement Adjustment |  | AOCL
Balance as of December 31, 2021 |  | $ | (903) |  |  | $ | 48 |  |  | $ | (42) |  |  | $ | (897) |
Other comprehensive (loss) income before reclassification adjustments |  | (105) |  |  | 210 |  |  | (5) |  |  | 100 |
(Income) reclassified from AOCL |  | — |  |  | (268) |  |  | — |  |  | (268) |
Tax benefit |  | — |  |  | 16 |  |  | 1 |  |  | 17 |
Net other comprehensive (loss) |  | (105) |  |  | (42) |  |  | (4) |  |  | (151) |
Balance as of December 31, 2022 |  | (1,008) |  |  | 6 |  |  | (46) |  |  | (1,048) |
Other comprehensive income (loss) before reclassification adjustments |  | 47 |  |  | (151) |  |  | (2) |  |  | (106) |
Loss reclassified from AOCL |  | — |  |  | 78 |  |  | 1 |  |  | 79 |
Tax benefit |  | — |  |  | 19 |  |  | — |  |  | 19 |
Net other comprehensive income (loss) |  | 47 |  |  | (54) |  |  | (1) |  |  | (8) |
Balance as of December 31, 2023 |  | (961) |  |  | (48) |  |  | (47) |  |  | (1,056) |
Other comprehensive (loss) income before reclassification adjustments |  | (100) |  |  | (48) |  |  | 23 |  |  | (125) |
Loss reclassified from AOCL |  | — |  |  | 120 |  |  | 1 |  |  | 121 |
Tax (provision) |  | — |  |  | (20) |  |  | (6) |  |  | (26) |
Net other comprehensive (loss) income |  | (100) |  |  | 52 |  |  | 18 |  |  | (30) |
Balance as of December 31, 2024 |  | $ | (1,061) |  |  | $ | 4 |  |  | $ | (29) |  |  | $ | (1,086) |
Schedule of basic and diluted earnings per common share | The following table provides the computation of basic and diluted earnings per common share (“EPS”).
| 2024 |  | 2023 |  | 2022
| Net Income Attributable to Ingredion |  | Weighted Average Shares |  | Per Share Amount |  | Net Income Attributable to Ingredion |  | Weighted Average Shares |  | Per Share Amount |  | Net Income Attributable to Ingredion |  | Weighted Average Shares |  | Per Share Amount
Basic EPS | $ | 647 |  |  | 65.5 |  | $ | 9.88 |  |  | $ | 643 |  |  | 66.0 |  | $ | 9.74 |  |  | $ | 492 |  |  | 66.2 |  | $ | 7.43 |
Effect of Dilutive Securities (i) |  |  | 1.1 |  |  |  |  |  | 1.0 |  |  |  |  |  | 0.8 |  |
Diluted EPS | $ | 647 |  |  | 66.6 |  | $ | 9.71 |  |  | $ | 643 |  |  | 67.0 |  | $ | 9.60 |  |  | $ | 492 |  |  | 67.0 |  | $ | 7.34 |
_____________________ (i)Incremental shares from assumed exercise of dilutive stock options, vesting of dilutive stock options, vesting of dilutive RSUs and other awards.

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