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10-Q Filing

INGREDION INC CIK: 1046257 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001558370-22-007571
Period End Date 20220331
Filing Date 20220506
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance ingr-20220331x10q_htm.xml
Balance Sheet 78 line items
Line Item Tag Value Unit Period
Property, plant and equipment, Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $3.23B USD Point-in-time
Property, plant and equipment, Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $3.30B USD Point-in-time
Intangible assets, Accumulated amortization FiniteLivedIntangibleAssetsAccumulatedAmortization $253.00M USD Point-in-time
Intangible assets, Accumulated amortization FiniteLivedIntangibleAssetsAccumulatedAmortization $259.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $324.00M USD Point-in-time
Preferred stock, authorized (in shares) PreferredStockSharesAuthorized 25.00M shares Point-in-time
Preferred stock, authorized (in shares) PreferredStockSharesAuthorized 25.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $328.00M USD Point-in-time
Short-term investments OtherShortTermInvestments $5.00M USD Point-in-time
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred stock, par value (in dollars per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Short-term investments OtherShortTermInvestments $4.00M USD Point-in-time
Accounts receivable, net ReceivablesNetCurrent $1.13B USD Point-in-time
Accounts receivable, net ReceivablesNetCurrent $1.43B USD Point-in-time
Preferred stock, issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred stock, issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Common stock, authorized (in shares) CommonStockSharesAuthorized 200.00M shares Point-in-time
Inventories InventoryNet $1.17B USD Point-in-time
Common stock, authorized (in shares) CommonStockSharesAuthorized 200.00M shares Point-in-time
Inventories InventoryNet $1.31B USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $63.00M USD Point-in-time
Common stock, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Prepaid expenses PrepaidExpenseCurrent $63.00M USD Point-in-time
Common stock, issued (in shares) CommonStockSharesIssued 77.81M shares Point-in-time
Total current assets AssetsCurrent $3.13B USD Point-in-time
Common stock, issued (in shares) CommonStockSharesIssued 77.81M shares Point-in-time
Total current assets AssetsCurrent $2.70B USD Point-in-time
Treasury stock (in shares) TreasuryStockCommonShares 11.46M shares Point-in-time
Property, plant and equipment, net of accumulated depreciation of $3,304 and $3,232, respectively PropertyPlantAndEquipmentNet $2.45B USD Point-in-time
Treasury stock (in shares) TreasuryStockCommonShares 11.15M shares Point-in-time
Property, plant and equipment, net of accumulated depreciation of $3,304 and $3,232, respectively PropertyPlantAndEquipmentNet $2.42B USD Point-in-time
Intangible assets, net of accumulated amortization of $259 and $253, respectively IntangibleAssetsNetIncludingGoodwill $1.34B USD Point-in-time
Intangible assets, net of accumulated amortization of $259 and $253, respectively IntangibleAssetsNetIncludingGoodwill $1.35B USD Point-in-time
Other assets OtherAssetsNoncurrent $531.00M USD Point-in-time
Other assets OtherAssetsNoncurrent $521.00M USD Point-in-time
Total assets Assets $7.00B USD Point-in-time
Total assets Assets $7.43B USD Point-in-time
Short-term borrowings DebtCurrent $308.00M USD Point-in-time
Short-term borrowings DebtCurrent $514.00M USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $1.20B USD Point-in-time
Accounts payable and accrued liabilities AccountsPayableAndAccruedLiabilitiesCurrent $1.21B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.72B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.51B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.74B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.74B USD Point-in-time
Other non-current liabilities LiabilitiesOtherThanLongtermDebtNoncurrent $524.00M USD Point-in-time
Other non-current liabilities LiabilitiesOtherThanLongtermDebtNoncurrent $561.00M USD Point-in-time
Total liabilities Liabilities $3.77B USD Point-in-time
Total liabilities Liabilities $4.02B USD Point-in-time
Share-based payments subject to redemption TemporaryEquityCarryingAmountAttributableToParent $30.00M USD Point-in-time
Share-based payments subject to redemption TemporaryEquityCarryingAmountAttributableToParent $21.00M USD Point-in-time
Share-based payments subject to redemption TemporaryEquityCarryingAmountAttributableToParent $36.00M USD Point-in-time
Share-based payments subject to redemption TemporaryEquityCarryingAmountAttributableToParent $31.00M USD Point-in-time
Redeemable non-controlling interests RedeemableNoncontrollingInterestEquityCarryingAmount $71.00M USD Point-in-time
Redeemable non-controlling interests RedeemableNoncontrollingInterestEquityCarryingAmount $70.00M USD Point-in-time
Redeemable non-controlling interests RedeemableNoncontrollingInterestEquityCarryingAmount $71.00M USD Point-in-time
Redeemable non-controlling interests RedeemableNoncontrollingInterestEquityCarryingAmount $70.00M USD Point-in-time
Preferred stock - authorized 25,000,000 shares - $0.01 par value, none issued PreferredStockValue - USD Point-in-time
Preferred stock - authorized 25,000,000 shares - $0.01 par value, none issued PreferredStockValue - USD Point-in-time
Common stock - authorized 200,000,000 shares - $0.01 par value, 77,810,875 issued at March 31, 2022 and December 31, 2021 CommonStockValue $1.00M USD Point-in-time
Common stock - authorized 200,000,000 shares - $0.01 par value, 77,810,875 issued at March 31, 2022 and December 31, 2021 CommonStockValue $1.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.16B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.16B USD Point-in-time
Less: Treasury stock (common stock: 11,464,034 and 11,154,203 shares at March 31, 2022 and December 31, 2021, respectively) at cost TreasuryStockCommonValue $1.09B USD Point-in-time
Less: Treasury stock (common stock: 11,464,034 and 11,154,203 shares at March 31, 2022 and December 31, 2021, respectively) at cost TreasuryStockCommonValue $1.06B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-763.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-897.00M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $3.99B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $3.90B USD Point-in-time
Total Ingredion stockholders' equity StockholdersEquity $3.10B USD Point-in-time
Total Ingredion stockholders' equity StockholdersEquity $3.29B USD Point-in-time
Non-redeemable non-controlling interests NonredeemableNoncontrollingInterest $18.00M USD Point-in-time
Non-redeemable non-controlling interests NonredeemableNoncontrollingInterest $19.00M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.31B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.12B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $7.43B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $7.00B USD Point-in-time
Income Statement 36 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $1.61B USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $1.89B USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $1.26B USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $1.51B USD 1 Quarter
Gross profit GrossProfit $379.00M USD 1 Quarter
Gross profit GrossProfit $351.00M USD 1 Quarter
Operating expenses OperatingExpensesExcludingRestructuringCharges $169.00M USD 1 Quarter
Operating expenses OperatingExpensesExcludingRestructuringCharges $153.00M USD 1 Quarter
Other operating (income) OtherOperatingIncomeExpenseNet $2.00M USD 1 Quarter
Other operating (income) OtherOperatingIncomeExpenseNet $2.00M USD 1 Quarter
Restructuring/impairment charges RestructuringSettlementAndImpairmentProvisions $2.00M USD 1 Quarter
Restructuring/impairment charges RestructuringSettlementAndImpairmentProvisions $370.00M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $210.00M USD 1 Quarter
Operating income (loss) OperatingIncomeLoss $-170.00M USD 1 Quarter
Financing costs FinancingCostsNet $19.00M USD 1 Quarter
Financing costs FinancingCostsNet $24.00M USD 1 Quarter
Other non-operating (income) OtherNonoperatingIncomeExpense $1.00M USD 1 Quarter
Other non-operating (income) OtherNonoperatingIncomeExpense $1.00M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $187.00M USD 1 Quarter
Income (loss) before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-188.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $54.00M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $55.00M USD 1 Quarter
Net income (loss) ProfitLoss $-243.00M USD 1 Quarter
Net income (loss) ProfitLoss $133.00M USD 1 Quarter
Less: Net income attributable to non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $3.00M USD 1 Quarter
Less: Net income attributable to non-controlling interests NetIncomeLossAttributableToNoncontrollingInterest $3.00M USD 1 Quarter
Net income (loss) attributable to Ingredion NetIncomeLoss $-246.00M USD 1 Quarter
Net income (loss) attributable to Ingredion NetIncomeLoss $130.00M USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 66.90M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 67.30M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 67.60M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 67.30M shares 1 Quarter
Basic EarningsPerShareBasic $-3.66 USD 1 Quarter
Basic EarningsPerShareBasic $1.94 USD 1 Quarter
Diluted EarningsPerShareDiluted $1.92 USD 1 Quarter
Diluted EarningsPerShareDiluted $-3.66 USD 1 Quarter
Cash Flow Statement 56 line items
Line Item Tag Value Unit Period
Net income (loss) ProfitLoss $-243.00M USD 1 Quarter
Net income (loss) ProfitLoss $133.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $53.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $52.00M USD 1 Quarter
Mechanical stores expense MechanicalStoresExpense $14.00M USD 1 Quarter
Mechanical stores expense MechanicalStoresExpense $13.00M USD 1 Quarter
Impairment charge for assets held for sale ImpairmentOfLongLivedAssetsToBeDisposedOf $360.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-4.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $3.00M USD 1 Quarter
Other non-cash charges OtherNonCashChargesCreditsToNetIncome $15.00M USD 1 Quarter
Other non-cash charges OtherNonCashChargesCreditsToNetIncome $7.00M USD 1 Quarter
Accounts receivable and prepaid expenses IncreaseDecreaseInAccountsReceivableAndPrepaidExpense $56.00M USD 1 Quarter
Accounts receivable and prepaid expenses IncreaseDecreaseInAccountsReceivableAndPrepaidExpense $126.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $119.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $69.00M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-45.00M USD 1 Quarter
Accounts payable and accrued liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities $-5.00M USD 1 Quarter
Margin accounts IncreaseDecreaseInMarginDepositsOutstanding $-28.00M USD 1 Quarter
Margin accounts IncreaseDecreaseInMarginDepositsOutstanding $16.00M USD 1 Quarter
Other OtherOperatingActivitiesCashFlowStatement $-18.00M USD 1 Quarter
Other OtherOperatingActivitiesCashFlowStatement $-7.00M USD 1 Quarter
Cash (used for) provided by operating activities NetCashProvidedByUsedInOperatingActivities $22.00M USD 1 Quarter
Cash (used for) provided by operating activities NetCashProvidedByUsedInOperatingActivities $-52.00M USD 1 Quarter
Capital expenditures and mechanical stores purchases PaymentsToAcquirePropertyPlantAndEquipment $85.00M USD 1 Quarter
Capital expenditures and mechanical stores purchases PaymentsToAcquirePropertyPlantAndEquipment $65.00M USD 1 Quarter
Proceeds from disposal of manufacturing facilities and properties ProceedsFromSaleOfPropertyPlantAndEquipment $2.00M USD 1 Quarter
Proceeds from disposal of manufacturing facilities and properties ProceedsFromSaleOfPropertyPlantAndEquipment $5.00M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $1.00M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-4.00M USD 1 Quarter
Cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-76.00M USD 1 Quarter
Cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-64.00M USD 1 Quarter
Proceeds from borrowings ProceedsFromBorrowings $46.00M USD 1 Quarter
Proceeds from borrowings ProceedsFromBorrowings $147.00M USD 1 Quarter
Payments on debt PaymentsOnDebt $123.00M USD 1 Quarter
Payments on debt PaymentsOnDebt $36.00M USD 1 Quarter
Commercial paper borrowings, net ProceedsFromRepaymentsOfCommercialPaper $178.00M USD 1 Quarter
Repurchases of common stock, net ProceedsFromRepurchaseOfEquity $-14.00M USD 1 Quarter
Repurchases of common stock, net ProceedsFromRepurchaseOfEquity $-39.00M USD 1 Quarter
(Settlements) issuances of common stock for share-based compensation, net ProceedsFromPaymentsOfIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansNetOfSettlements $7.00M USD 1 Quarter
(Settlements) issuances of common stock for share-based compensation, net ProceedsFromPaymentsOfIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansNetOfSettlements $-1.00M USD 1 Quarter
Dividends paid, including to non-controlling interests PaymentsOfDividends $43.00M USD 1 Quarter
Dividends paid, including to non-controlling interests PaymentsOfDividends $43.00M USD 1 Quarter
Cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $119.00M USD 1 Quarter
Cash provided by (used for) financing activities NetCashProvidedByUsedInFinancingActivities $-40.00M USD 1 Quarter
Effects of foreign exchange rate changes on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $5.00M USD 1 Quarter
Effects of foreign exchange rate changes on cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-7.00M USD 1 Quarter
(Decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-4.00M USD 1 Quarter
(Decrease) in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-89.00M USD 1 Quarter
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $665.00M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $328.00M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $324.00M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $576.00M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $665.00M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $328.00M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $324.00M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $576.00M USD Point-in-time
Stockholders Equity 4 line items
Line Item Tag Value Unit Period
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.31B USD Point-in-time
Balance at beginning of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.12B USD Point-in-time
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.31B USD Point-in-time
Balance at end of period StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $3.12B USD Point-in-time
Comprehensive Income 17 line items
Line Item Tag Value Unit Period
Gains (losses) on cash flow hedges, income tax effect OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax $7.00M USD 1 Quarter
Net income (loss) ProfitLoss $-243.00M USD 1 Quarter
Gains (losses) on cash flow hedges, income tax effect OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax $46.00M USD 1 Quarter
Net income (loss) ProfitLoss $133.00M USD 1 Quarter
(Gains) losses on cash flow hedges reclassified to earnings, net of income tax effect OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationTax $12.00M USD 1 Quarter
Gains on cash flow hedges, net of income tax effect of $46 and $7, respectively OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax $130.00M USD 1 Quarter
Gains on cash flow hedges, net of income tax effect of $46 and $7, respectively OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax $22.00M USD 1 Quarter
(Gains) on cash flow hedges reclassified to earnings, net of income tax effect of $12 and $ - , respectively OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax $34.00M USD 1 Quarter
(Gains) on cash flow hedges reclassified to earnings, net of income tax effect of $12 and $ - , respectively OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax $1.00M USD 1 Quarter
Currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-52.00M USD 1 Quarter
Currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $38.00M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $-274.00M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $267.00M USD 1 Quarter
Less: Comprehensive income attributable to non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $2.00M USD 1 Quarter
Less: Comprehensive income attributable to non-controlling interests ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest $5.00M USD 1 Quarter
Comprehensive income (loss) attributable to Ingredion ComprehensiveIncomeNetOfTax $-279.00M USD 1 Quarter
Comprehensive income (loss) attributable to Ingredion ComprehensiveIncomeNetOfTax $265.00M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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