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&HSF&II–LATAMF&II–U.S./CanadaAll OtherCorporateTotal
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 expenses82 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&HSF&II–LATAMF&II–U.S./CanadaAll OtherCorporateTotal
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 expenses77 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&HSF&II–LATAMF&II–U.S./CanadaAll OtherCorporateTotal
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 expenses240 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&HSF&II–LATAMF&II–U.S./CanadaAll OtherCorporateTotal
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 expenses224 115 66 54 123 
Adjusted operating income (loss)$256 $362 $291 $(18)$(123)$768 
Unallocated costs (i)
(47)
Operating income$721 
Three Months Ended September 30,Nine Months Ended September 30,
(i) Unallocated (costs) income:
2025202420252024
Restructuring and resegmentation costs(3)(6)(7)(12)
Impairment charges— (8)(6)(26)
Other matters(2)— 9 (9)
Total unallocated (costs) income$(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.