XML 30 R18.htm IDEA: XBRL DOCUMENT
v3.25.3

Segment Information | 9 Months Ended
--- | ---
Sep. 30, 2025
Segment Reporting [Abstract] |
Segment Information | Segment Information We are principally engaged in the production and sale of starches and sweeteners for a wide range of industries. Our Texture & Healthful Solutions (“T&HS”) segment has a global focus and primarily manufactures texturizing food ingredients. Our Food & Industrial Ingredients–Latin America (“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 Food & Industrial Ingredients–United States/Canada (“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. Net sales 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 on our condensed 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. Adjusted operating income presented by segment includes an arms-length profit margin for sales of manufactured products sold to other segments. We include specified and certain corporate costs in our reportable segments and All Other because the Chief Operating Decision Maker (“CODM”) evaluates each segment’s performance inclusive of these costs. Net sales to affiliated and unaffiliated customers by reportable segment and All Other was as follows:
|  | Three Months Ended September 30, 2025
|  | T&HS |  | F&II–LATAM |  | F&II–U.S./Canada |  | All Other |  | Corporate |  | Total
Segment net sales |  | $ | 612 |  |  | $ | 597 |  |  | $ | 532 |  |  | $ | 122 |  |  | $ | — |  |  |
Inter-segment net sales |  | (7) |  |  | (12) |  |  | (25) |  |  | (3) |  |  | — |  |  |
Net sales to unaffiliated customers |  | $ | 605 |  |  | $ | 585 |  |  | $ | 507 |  |  | $ | 119 |  |  | $ | — |  |  | $ | 1,816 |
Segment cost of sales |  | $ | 418 |  |  | $ | 431 |  |  | $ | 403 |  |  | $ | 105 |  |  | $ | — |  |  |
Other operating expenses |  | 82 |  |  | 38 |  |  | 23 |  |  | 18 |  |  | 44 |  |  |
Adjusted operating income (loss) |  | $ | 105 |  |  | $ | 116 |  |  | $ | 81 |  |  | $ | (4) |  |  | $ | (44) |  |  | $ | 254 |
Unallocated costs (i) |  |  |  |  |  |  |  |  |  |  |  | (5) |
Operating income |  |  |  |  |  |  |  |  |  |  |  | $ | 249 |
|  | Three Months Ended September 30, 2024
|  | T&HS |  | F&II–LATAM |  | F&II–U.S./Canada |  | All Other |  | Corporate |  | Total
Segment net sales |  | $ | 611 |  |  | $ | 633 |  |  | $ | 567 |  |  | $ | 106 |  |  | $ | — |  |  |
Inter-segment net sales |  | (11) |  |  | (13) |  |  | (19) |  |  | (4) |  |  | — |  |  |
Net sales to unaffiliated customers |  | $ | 600 |  |  | $ | 620 |  |  | $ | 548 |  |  | $ | 102 |  |  | $ | — |  |  | $ | 1,870 |
Segment cost of sales |  | $ | 427 |  |  | $ | 450 |  |  | $ | 425 |  |  | $ | 89 |  |  | $ | — |  |  |
Other operating expenses |  | 77 |  |  | 39 |  |  | 24 |  |  | 17 |  |  | 40 |  |  |
Adjusted operating income (loss) |  | $ | 96 |  |  | $ | 131 |  |  | $ | 99 |  |  | $ | (4) |  |  | $ | (40) |  |  | $ | 282 |
Unallocated costs (i) |  |  |  |  |  |  |  |  |  |  |  | (14) |
Operating income |  |  |  |  |  |  |  |  |  |  |  | $ | 268 |
|  | Nine Months Ended September 30, 2025
|  | T&HS |  | F&II–LATAM |  | F&II–U.S./Canada |  | All Other |  | Corporate |  | Total
Segment net sales |  | $ | 1,831 |  |  | $ | 1,793 |  |  | $ | 1,635 |  |  | $ | 362 |  |  | $ | — |  |  |
Inter-segment net sales |  | (25) |  |  | (39) |  |  | (85) |  |  | (10) |  |  | — |  |  |
Net sales to unaffiliated customers |  | $ | 1,806 |  |  | $ | 1,754 |  |  | $ | 1,550 |  |  | $ | 352 |  |  | $ | — |  |  | $ | 5,462 |
Segment cost of sales |  | $ | 1,251 |  |  | $ | 1,285 |  |  | $ | 1,225 |  |  | $ | 304 |  |  | $ | — |  |  |
Other operating expenses |  | 240 |  |  | 99 |  |  | 66 |  |  | 53 |  |  | 139 |  |  |
Adjusted operating income (loss) |  | $ | 315 |  |  | $ | 370 |  |  | $ | 259 |  |  | $ | (5) |  |  | $ | (139) |  |  | $ | 800 |
Unallocated costs (i) |  |  |  |  |  |  |  |  |  |  |  | (4) |
Operating income |  |  |  |  |  |  |  |  |  |  |  | $ | 796 |
|  | Nine Months Ended September 30, 2024
|  | T&HS |  | F&II–LATAM |  | F&II–U.S./Canada |  | All Other |  | Corporate |  | Total
Segment net sales |  | $ | 1,827 |  |  | $ | 1,899 |  |  | $ | 1,714 |  |  | $ | 346 |  |  | $ | — |  |  |
Inter-segment net sales |  | (42) |  |  | (33) |  |  | (70) |  |  | (11) |  |  | — |  |  |
Net sales to unaffiliated customers |  | $ | 1,785 |  |  | $ | 1,866 |  |  | $ | 1,644 |  |  | $ | 335 |  |  | $ | — |  |  | $ | 5,630 |
Segment cost of sales |  | $ | 1,305 |  |  | $ | 1,389 |  |  | $ | 1,287 |  |  | $ | 299 |  |  | $ | — |  |  |
Other operating expenses |  | 224 |  |  | 115 |  |  | 66 |  |  | 54 |  |  | 123 |  |  |
Adjusted operating income (loss) |  | $ | 256 |  |  | $ | 362 |  |  | $ | 291 |  |  | $ | (18) |  |  | $ | (123) |  |  | $ | 768 |
Unallocated costs (i) |  |  |  |  |  |  |  |  |  |  |  | (47) |
Operating income |  |  |  |  |  |  |  |  |  |  |  | $ | 721 |
|  |  |  |  |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(i) Unallocated (costs) income: |  |  |  |  |  |  |  |  |  | 2025 |  | 2024 |  | 2025 |  | 2024
Restructuring and resegmentation costs |  |  |  |  |  |  |  |  |  | (3) |  |  | (6) |  |  | (7) |  |  | (12) |
Impairment charges |  |  |  |  |  |  |  |  |  | — |  |  | (8) |  |  | (6) |  |  | (26) |
Other matters |  |  |  |  |  |  |  |  |  | (2) |  |  | — |  |  | 9 |  |  | (9) |
Total unallocated (costs) income |  |  |  |  |  |  |  |  |  | $ | (5) |  |  | $ | (14) |  |  | $ | (4) |  |  | $ | (47) |
The CODM evaluates performance, makes strategic decisions, and allocates resources based on Property, plant and equipment, net for internal and external reporting purposes. Property, plant and equipment, net by reportable segment and All Other was as follows:
|  | As of September 30, 2025 |  | As of December 31, 2024
Texture & Healthful Solutions |  | $ | 941 |  |  | $ | 884 |
Food & Industrial Ingredients–LATAM |  | 577 |  |  | 508 |
Food & Industrial Ingredients–U.S./Canada |  | 584 |  |  | 556 |
All Other (i) |  | 333 |  |  | 316 |
Total property, plant and equipment, net |  | $ | 2,435 |  |  | $ | 2,264 |
_____________________ (i)For purposes of presentation, All Other includes Corporate assets.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: 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 3: 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 Reference 4: 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 5: 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 6: 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 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 8: 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 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef -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 12: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 14: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 18: 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 19: 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 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 22: 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 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 24: 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 25: 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 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration