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Segment and Geographical Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment and Geographical Information Segment and Geographical Information
Effective January 1, 2024, we changed our reportable segments to align them with changes in how our Chief Operating Decision Maker (“CODM”), James P. Zallie, our president and chief executive officer, evaluates performance, makes strategic decisions, and allocates resources.
We are principally engaged in the production and sale of starches and sweeteners for a wide range of industries, and our reportable segments are T&HS, F&II - LATAM and F&II - U.S./Canada. Businesses of multiple operating segments that are not individually or collectively classified as reportable segments are included in All Other. The T&HS segment has a global focus and primarily manufactures texturizing food ingredients. The 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. The 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. Revenues from All Other are generated primarily by sweetener and starch sales from 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. All Other also included the sale of our South Korea business, which we divested on February 1, 2024, as more fully described in Note 2.
Net sales by product are not presented because such presentation is not practicable. No customer or group of related customers accounted for 10 percent or more of our net sales in 2024, 2023 or 2022.
Adjusted Operating Income presented by segment includes an arms-length profit margin for sales of manufactured products sold to other segments. We exclude specified and certain corporate items from our reportable segments and All Other because the CODM evaluates each segment’s performance exclusive of these items.
The following tables present information about our net sales, significant segment costs and adjusted operating income by reportable segment and All Other for the periods presented:
December 31, 2024
T&HSF&II - LATAMF&II - U.S./CanadaAll OtherCorporateTotal
Segment net sales$2,417 $2,497 $2,244 $475 $— 
Inter-segment net sales(51)(47)(89)(16)— 
Net sales to unaffiliated customers$2,366 $2,450 $2,155 $459 $— $7,430 
Segment cost of sales$1,715 $1,820 $1,691 $407 — 
Other operating expenses301 147 91 74 168 
Adjusted operating income (loss)$350 $483 $373 $(22)$(168)$1,016 
Unallocated (costs) (i)
(133)
Operating income$883 
December 31, 2023
T&HSF&II - LATAMF&II - U.S./CanadaAll OtherCorporateTotal
Segment net sales$2,566 $2,668 $2,429 $743 $— 
Inter-segment net sales(106)(35)(94)(11)— 
Net sales to unaffiliated customers$2,460 $2,633 $2,335 $732 $— $8,160 
Segment cost of sales$1,759 $2,054 $1,951 $647 $— 
Other operating expenses307 127 86 87 173 
Adjusted operating income (loss)$394 $452 $298 $(2)$(173)$969 
Unallocated (costs) (i)
(12)
Operating income$957 
December 31, 2022
T&HSF&II - LATAMF&II - U.S./CanadaAll OtherCorporateTotal
Segment net sales$2,527 $2,628 $2,303 $893 $— 
Inter-segment net sales(185)(59)(101)(60)— 
Net sales to unaffiliated customers$2,342 $2,569 $2,202 $833 $— $7,946 
Segment cost of sales$1,771 $2,018 $1,916 $747 $— 
Other operating expenses274 114 77 92 150 
Adjusted operating income (loss)$297 $437 $209 $(6)$(150)$787 
Unallocated (costs) (i)
(25)
Operating income$762 
(i) Unallocated (costs):
202420232022
Acquisition/integration costs$— $— $(1)
Restructuring and resegmentation costs(18)(1)(4)
Impairment charges(109)(10)— 
Other matters(6)(1)(20)
Total unallocated (costs)$(133)$(12)$(25)
Property, plant and equipment, net, by reportable segment and All Other as of December 31, 2024 and 2023 were as follows:
As of December 31,
20242023
Texture & Healthful Solutions$884 $855 
Food & Industrial Ingredients - LATAM508 552 
Food & Industrial Ingredients - U.S./Canada556 548 
All Other (i)
316 415 
Total property, plant and equipment, net$2,264 $2,370 
_____________________
(i)For purposes of presentation, All Other includes Corporate assets.

Property, plant and equipment, net by country as of December 31, 2024 and 2023 were as follows:
20242023
U.S.$1,076 $1,043 
Mexico258 273 
Brazil164 189 
China153 162 
Thailand152 152 
Canada128 207 
Germany121 122 
Others212 222 
Total$2,264 $2,370 
Depreciation and amortization, mechanical stores expense, capital expenditures and mechanical stores purchases by reportable segment and All Other were as follows:
202420232022
Depreciation and amortization:
Texture & Healthful Solutions$82 $80 $75 
Food & Industrial Ingredients - LATAM48 47 46 
Food & Industrial Ingredients - U.S./Canada40 41 40 
All Other (i)
44 51 54 
Total$214 $219 $215 
Mechanical stores expense (ii):
Texture & Healthful Solutions$14 $16 $15 
Food & Industrial Ingredients - LATAM13 14 12 
Food & Industrial Ingredients - U.S./Canada31 28 25 
All Other (i)
4 4 3 
Total$62 $62 $55 
Capital expenditures and mechanical stores purchases:
Texture & Healthful Solutions$101 $113 $120 
Food & Industrial Ingredients - LATAM80 70 59 
Food & Industrial Ingredients - U.S./Canada84 75 71 
All Other (i)
36 58 50 
Total$301 $316 $300 
_____________________
(i)All Other includes Corporate activities.
(ii)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 third-party customers by country of origin were as follows:
202420232022
U.S.$2,870 $3,069 $2,978 
Mexico1,503 1,571 1,444 
Brazil584 669 720 
Canada527 548 512 
Germany385 413 342 
Colombia310 332 333 
Thailand265 259 257 
Others986 1,299 1,360 
Total$7,430 $8,160 $7,946