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Equity (Tables) | 3 Months Ended
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Mar. 31, 2025
Stockholders' Equity Note [Abstract] |
Schedule of stock based compensation expense | Share-based compensation expense was as follows:
|  | Three Months Ended March 31, |  |  |  |  |  |
|  | 2025 |  | 2024 |  |  |  |  |  |  |  |  |  |  |  |
Stock options: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pre-tax compensation expense |  | $ | 1 |  |  | $ | 2 |  |  |  |  |  |  |  |  |  |  |  |  |
Income tax benefit |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Stock option expense, net of income taxes |  | 1 |  |  | 2 |  |  |  |  |  |  |  |  |  |  |  |  |
Restricted stock units (“RSUs”): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pre-tax compensation expense |  | 7 |  |  | 7 |  |  |  |  |  |  |  |  |  |  |  |  |
Income tax benefit |  | (1) |  |  | (1) |  |  |  |  |  |  |  |  |  |  |  |  |
RSUs, net of income taxes |  | 6 |  |  | 6 |  |  |  |  |  |  |  |  |  |  |  |  |
Performance shares and other share-based awards: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pre-tax compensation expense |  | 5 |  |  | 4 |  |  |  |  |  |  |  |  |  |  |  |  |
Income tax benefit |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Performance shares and other share-based compensation expense, net of income taxes |  | 5 |  |  | 4 |  |  |  |  |  |  |  |  |  |  |  |  |
Total share-based compensation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pre-tax compensation expense |  | 13 |  |  | 13 |  |  |  |  |  |  |  |  |  |  |  |  |
Income tax benefit |  | (1) |  |  | (1) |  |  |  |  |  |  |  |  |  |  |  |  |
Total share-based compensation expense, net of income taxes |  | $ | 12 |  |  | $ | 12 |  |  |  |  |  |  |  |  |  |  |  |  |
Schedule of valuation assumptions for stock options | We estimated the fair value of each option grant by using the Black-Scholes option-pricing model with the following assumptions:
|  | Three Months Ended March 31,
|  | 2025 |  | 2024
Expected life (in years) |  | 5.5 |  | 5.5
Risk-free interest rate |  | 4.1% |  | 4.2%
Expected volatility |  | 28.2% |  | 28.1%
Expected dividend yield |  | 2.5% |  | 2.9%
Schedule of stock option transactions | Stock option activity for 2025 was as follows:
|  | Number of Options (in thousands) |  | Weighted Average Exercise Price per Share |  | Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in millions)
Outstanding as of December 31, 2024 |  | 1,453 |  | $ | 100.04 |  |  | 5.6 |  | $ | 55 |
Granted |  | 158 |  | 130.57 |  |  |  |  |
Exercised |  | (16) |  | 94.22 |  |  |  |  |
Cancelled |  | — |  | — |  |  |  |  |
Outstanding as of March 31, 2025 |  | 1,595 |  | $ | 103.12 |  |  | 5.8 |  | $ | 52 |
Exercisable as of March 31, 2025 |  | 1,271 |  | $ | 99.43 |  |  | 5.0 |  | $ | 46 |
Schedule of additional information pertaining to stock option activity | Additional information pertaining to stock option activity was as follows:
|  | Three Months Ended March 31, |  |  |  |  |  |
|  | 2025 |  | 2024 |  |  |  |  |  |  |  |  |  |  |  |
Weighted average grant date fair value of stock options granted (per share) |  | $ | 33.53 |  |  | $ | 26.33 |  |  |  |  |  |  |  |  |  |  |  |  |
Total intrinsic value of stock options exercised |  | 1 |  |  | 5 |  |  |  |  |  |  |  |  |  |  |  |  |
Schedule of restricted unit activity | RSU activity for 2025 was as follows:
|  | Number of Restricted Shares (in thousands) |  | Weighted Average Fair Value per Share
Non-vested as of December 31, 2024 |  | 538 |  | $ | 99.58 |
Granted |  | 163 |  | 130.57 |
Vested |  | (157) |  | 88.94 |
Cancelled |  | (3) |  | 101.52 |
Non-vested as of March 31, 2025 |  | 541 |  | $ | 111.81 |
Summary of net changes in accumulated other comprehensive loss | A summary of accumulated other comprehensive loss for 2025 and 2024 was as follows:
|  | Cumulative Translation Adjustment |  | Hedging Activities |  | Pension and Postretirement Adjustment |  | AOCL
Balance as of December 31, 2024 |  | $ | (1,061) |  |  | $ | 4 |  |  | $ | (29) |  |  | $ | (1,086) |
Other comprehensive income before reclassification adjustments |  | 50 |  |  | 17 |  |  | — |  |  | 67 |
(Income) reclassified from AOCL |  | — |  |  | (2) |  |  | — |  |  | (2) |
Tax (provision) |  | — |  |  | (4) |  |  | — |  |  | (4) |
Net other comprehensive income |  | 50 |  |  | 11 |  |  | — |  |  | 61 |
Balance as of March 31, 2025 |  | $ | (1,011) |  |  | $ | 15 |  |  | $ | (29) |  |  | $ | (1,025) |
|  | Cumulative Translation Adjustment |  | Hedging Activities |  | Pension and Postretirement Adjustment |  | AOCL
Balance as of December 31, 2023 |  | $ | (961) |  |  | $ | (48) |  |  | $ | (47) |  |  | $ | (1,056) |
Other comprehensive (loss) before reclassification adjustments |  | — |  |  | (41) |  |  | — |  |  | (41) |
Loss reclassified from AOCL |  | — |  |  | 33 |  |  | 1 |  |  | 34 |
Tax benefit |  | — |  |  | 1 |  |  | — |  |  | 1 |
Net other comprehensive (loss) income |  | — |  |  | (7) |  |  | 1 |  |  | (6) |
Balance as of March 31, 2024 |  | $ | (961) |  |  | $ | (55) |  |  | $ | (46) |  |  | $ | (1,062) |
Schedule of basic and diluted earnings per common share | The following table presents information about the computation of basic and diluted earnings per common share (“EPS”):
|  | Three Months Ended March 31, 2025 |  | Three Months Ended March 31, 2024
|  | Net Income Attributable to Ingredion |  | Weighted Average Shares |  | Per Share Amount |  | Net Income Attributable to Ingredion |  | Weighted Average Shares |  | Per Share Amount
Basic EPS |  | $ | 197 |  |  | 64.5 |  | $ | 3.05 |  |  | $ | 216 |  |  | 65.7 |  | $ | 3.29 |
Effect of Dilutive Securities (i) |  |  |  | 1.1 |  |  |  |  |  | 1.1 |  |
Diluted EPS |  | $ | 197 |  |  | 65.6 |  | $ | 3.00 |  |  | $ | 216 |  |  | 66.8 |  | $ | 3.23 |
_____________________ (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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