$INGR

Ingredion Inc

CIK:0001046257|SEC Filings

Condensed Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 1,850	$ 1,833	$ 3,642	$ 3,646
Cost of sales	1,424	1,356	2,815	2,703
Gross profit	426	477	827	943
Operating expenses	207	208	407	401
Other operating (income), net	(14)	(5)	(27)	(15)
Restructuring/impairment charges	45	3	56	10
Operating income	188	271	391	547
Financing costs	55	12	64	21
Net (gain) on sale of business	(44)	0	(44)	0
Other non-operating expense, net	2	0	2	0
Income before income taxes	175	259	369	526
Provision for income taxes	59	61	109	129
Net income	116	198	260	397
Less: Net income attributable to non-controlling interests	2	2	4	4
Net income attributable to Ingredion	$ 114	$ 196	$ 256	$ 393
Weighted average common shares outstanding:
Basic (in shares)	63.3	64.5	63.2	64.5
Diluted (in shares)	63.9	65.6	63.9	65.6
Earnings per common share of Ingredion:
Basic (in dollars per share)	$ 1.80	$ 3.04	$ 4.05	$ 6.09
Diluted (in dollars per share)	$ 1.78	$ 2.99	$ 4.01	$ 5.99

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash from operating activities
Net income	$ 260	$ 397
Non-cash charges to net income:
Depreciation and amortization	110	108
Mechanical stores expense	38	32
Net (gain) on sale of business	(44)	0
Impairment charges	33	6
Foreign exchange losses, net	47	4
Other non-cash charges	7	18
Changes in working capital:
Accounts receivable and prepaid expenses	(224)	(216)
Inventories	1	3
Accounts payable and accrued liabilities	(8)	(28)
Margin accounts	(19)	(9)
Other	(78)	(53)
Cash provided by operating activities	123	262
Cash from investing activities
Capital expenditures and mechanical stores purchases, net	(210)	(193)
Proceeds from sales of businesses, net	139	12
Purchases of equity securities, net	(26)	(19)
Other	(5)	(3)
Cash used for investing activities	(102)	(203)
Cash from financing activities
Proceeds from borrowings	266	231
Payments on debt	(231)	(277)
Repurchases of common stock, net	(14)	(55)
Common stock activity for share-based compensation, net	(10)	(9)
Purchases of non-controlling interests	(7)	0
Dividends paid, including to non-controlling interests	(105)	(106)
Cash used for financing activities	(101)	(216)
Effects of foreign exchange rate changes on cash and cash equivalents	(2)	21
(Decrease) in cash and cash equivalents	(82)	(136)
Cash and cash equivalents, beginning of period	1,030	997
Cash and cash equivalents, end of period	$ 948	$ 861

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 948	$ 1,030
Short-term investments	4	3
Accounts receivable, net	1,386	1,185
Inventories	1,109	1,227
Prepaid expenses and assets held for sale	76	60
Total current assets	3,523	3,505
Property, plant and equipment, net of accumulated depreciation of $3,764 and $3,727	2,521	2,526
Goodwill	917	922
Intangible assets, net of accumulated amortization of $367 and $354	337	347
Other non-current assets	772	597
Total assets	8,070	7,897
Current liabilities:
Short-term borrowings	41	48
Accounts payable	651	693
Accrued liabilities and liabilities held for sale	567	575
Total current liabilities	1,259	1,316
Long-term debt	1,742	1,742
Other non-current liabilities	496	473
Total liabilities	3,497	3,531
Share-based payments subject to redemption	49	64
Redeemable non-controlling interests	0	7
Ingredion stockholders’ equity:
Preferred stock — authorized 25.0 shares — $0.01 par value, none issued	0	0
Common stock — authorized 200.0 shares — $0.01 par value, 77.8 shares issued at June 30, 2026 and December 31, 2025	1	1
Additional paid-in capital	1,163	1,155
Less: Treasury stock (common stock: 14.7 and 14.8 shares at June 30, 2026 and December 31, 2025) at cost	(1,553)	(1,555)
Accumulated other comprehensive loss	(848)	(937)
Retained earnings	5,761	5,610
Total Ingredion stockholders’ equity	4,524	4,274
Non-redeemable non-controlling interests	0	21
Total stockholders’ equity	4,524	4,295
Total liabilities and stockholders’ equity	$ 8,070	$ 7,897