Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Millions, $ in Millions |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
Jun. 30, 2024 |
Jun. 30, 2023 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|||
| Income Statement [Abstract] | ||||||
| Net sales | $ 1,878 | $ 2,069 | $ 3,760 | $ 4,206 | ||
| Cost of sales | 1,432 | 1,628 | 2,897 | 3,278 | ||
| Gross profit | 446 | 441 | 863 | 928 | | |
| Operating expenses | 191 | 188 | 380 | 375 | | |
| Other operating (income) expense | (8) | 2 | 4 | 11 | | |
| Restructuring/impairment charges | 23 | 0 | 26 | 0 | | |
| Total Operating Expenses | 206.0 | 190.0 | 410.0 | 386.0 | 0 | |
| Operating income | 240 | 251 | 453 | 542 | | |
| Financing costs | 10 | 30 | 29 | 62 | | |
| Net gain on sale of business | 0 | 0 | (82) | 0 | | |
| Total Other Income Expenses | 10.0 | 32.0 | -53.0 | 64.0 | 0 | |
| Other non-operating expense | 0 | 2 | 0 | 2 | | |
| Income before income taxes | 230 | 219 | 506 | 478 | | |
| Provision for income taxes | 80 | 55 | 138 | 120 | | |
| Net income | 150 | 164 | 368 | 358 | | |
| Less: Net income attributable to non-controlling interests | 2 | 1 | 4 | 4 | ||
| Net income attributable to Ingredion | $ 148 | $ 163 | $ 364 | $ 354 | ||
| Weighted average common shares outstanding: | ||||||
| Basic (in shares) | 65.7 | 66.3 | 65.7 | 66.2 | ||
| Diluted (in shares) | 66.8 | 67.3 | 66.7 | 67.2 | ||
| Earnings per common share of Ingredion: | ||||||
| Basic (in dollars per share) | $ 2.25 | $ 2.46 | $ 5.54 | $ 5.35 | ||
| Diluted (in dollars per share) | $ 2.22 | $ 2.42 | $ 5.46 | $ 5.27 | ||
| X | ||||||||||
- Definition The net amount of expense (income) derived from financing activities, including: the aggregate cost of borrowed funds accounted for as interest that was charged against earnings during the period; the noncash expenses charged against earnings in the period to allocate debt discount and premium, and the costs to issue debt and obtain financing over the related debt instruments; income derived from investments in cash and cash equivalents; and foreign currency transaction gains and losses. No definition available.
|
| X | ||||||||||
- Definition Represent the amount of operating expenses excluding restructuring charges. No definition available.
|
| X | ||||||||||
- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of gain (loss) from sale and disposal of integrated set of activities and assets capable of being conducted and managed for purpose of providing return in form of dividend, lower cost, or other economic benefit to investor, owner, member and participant. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of restructuring charges, remediation cost, and asset impairment loss. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|