Ingredion Inc

Listed Company

INGRCIK 0001046257NYSELarge AcceleratedGrain Mill ProductsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$7.22B

Net Income

$729.00M

Total Assets

$7.90B

Equity

$4.27B

Shares Out

62.95M

Op. Cash Flow

$944.00M

Business

Ingredion Inc is a leading global ingredient solutions provider that transforms grains, fruits, vegetables and other plant‑based materials into value‑added ingredient solutions for food, beverage, animal nutrition, brewing and industrial markets. It develops, produces and sells starches and sweeteners, pulse‑based protein ingredients, refined corn oil, animal feed products, biomaterials, hydrocolloids, clean‑label texturizers, high‑intensity and reduced‑sugar sweeteners and multi‑ingredient systems. The company operates three reportable segments — Texture & Healthful Solutions (global), Food & Industrial Ingredients – Latin America and Food & Industrial Ingredients – U.S./Canada — plus an All Other group. Ingredion sells directly to manufacturers and distributors, supports customers with technical services, and distributes products via a global manufacturing and tolling network using truck, rail and tanker to serve markets worldwide.

Summary from filing dated 2025-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	7,219	7,430	8,160	7,946	6,894
Cost of sales	5,391	5,639	6,411	6,452	5,563
Gross profit	1,828	1,791	1,749	1,494	1,331
Operating expenses	815	782	789	715	668
Other operating (income), net	−24	−1	−8	13	−34
Restructuring/impairment charges	21	127	11	4	387
Operating income	1,016	883	957	762	310
Financing costs	37	39	114	99	74
Net (gain) on sale of business	0	−90	0	0	—
Other non-operating expense	5	3	4	−5	−12
Income before income taxes	974	931	839	668	248
Provision for income taxes	238	277	188	166	123
Net income	736	654	651	502	125
Less: Net income attributable to non-controlling interests	7	7	8	10	8
Net income attributable to Ingredion	729	647	643	492	117
Basic (in shares)	64	66	66	66	67
Diluted (in shares)	65	67	67	67	68
Basic (in dollars per share)	11.36	9.88	9.74	7.43	1.74
Diluted (in dollars per share)	11.18	9.71	9.6	7.34	1.73

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	1,030	997	401	236	328
Short-term investments	3	11	8	3	4
Accounts receivable, net	1,185	1,093	—	—	—
Inventories	1,227	1,187	1,450	1,597	1,172
Prepaid expenses and assets held for sale	60	67	261	62	—
Total current assets	3,505	3,355	3,399	3,309	2,697
Property, plant and equipment, net	2,526	2,264	2,370	2,407	2,423
Intangible assets, net	1,269	1,264	1,303	1,301	1,348
Other non-current assets	597	561	570	544	531
Total assets	7,897	7,444	7,642	7,561	6,999
Short-term borrowings	48	44	448	543	308
Accounts payable	693	604	778	873	774
Accrued liabilities and liabilities held for sale	575	633	546	466	—
Total current liabilities	1,316	1,281	1,772	1,882	1,512
Long-term debt	1,742	1,787	1,740	1,940	1,738
Other non-current liabilities	473	486	480	477	524
Total liabilities	3,531	3,554	3,992	4,299	3,774
Share-based payments subject to redemption	64	60	55	48	36
Redeemable non-controlling interests	7	7	43	51	71
Preferred stock authorized 25.0 shares $0.01 par value, none issued	0	0	0	0	0
Common stock authorized 200.0 shares $0.01 par value, 77.8 issued at December 31, 2025 and 2024	1	1	1	1	1
Additional paid-in capital	1,155	1,152	1,146	1,132	1,158
Less: Treasury stock (common stock: 14.8 and 13.3 shares at December 31, 2025 and 2024) at cost	−1,555	−1,355	−1,207	−1,148	−1,061
Accumulated other comprehensive loss	−937	−1,086	−1,056	−1,048	−897
Retained earnings	5,610	5,092	4,654	4,210	3,899
Total Ingredion stockholders equity	4,274	3,804	3,538	3,147	3,100
Non-redeemable non-controlling interests	21	19	14	16	18
Total stockholders equity	4,295	3,823	3,552	3,163	3,118
Total liabilities and stockholders equity	7,897	7,444	7,642	7,561	6,999

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	222	214	219	215	220
Mechanical stores expense	67	62	62	55	55
Deferred income taxes	6	−15	−6	−3	−61
Impairment charges	10	109	10	—	—
Other non-cash charges	43	32	59	57	8
Accounts receivable and prepaid expenses	−51	148	77	−310	−162
Inventories	3	228	69	−468	−312
Accounts payable and accrued liabilities	−27	20	−79	158	226
Margin accounts	2	21	10	−44	−32
Other	−67	53	−15	−10	−15
Cash provided by operating activities	944	1,436	1,057	152	392
Capital expenditures and mechanical stores purchases, net	−433	−295	−314	−300	−300
Proceeds from sale of business	12	255	0	0	—
Purchases of equity securities, net	−20	−4	−9	—	—
Other	−3	−3	−6	2	−13
Cash used for investing activities	−444	−47	−329	−320	−335
Proceeds from borrowings	405	773	720	825	1,300
Payments on debt	−449	−791	−949	−532	−1,690
Commercial paper repayments, net	0	−327	−63	140	250
Repurchases of common stock, net	−224	−216	−101	−112	−68
Common stock activity for share-based compensation, net	−12	46	20	—	—
Purchases of non-controlling interests	0	−40	−2	−46	0
Dividends paid, including to non-controlling interests	−211	−210	−194	−181	−184
Cash used for financing activities	−491	−765	−569	103	−373
Effects of foreign exchange rate changes on cash and cash equivalents	24	−28	6	−27	−21
Increase in cash and cash equivalents	33	596	165	−92	−337

Filings

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