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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Condensed Consolidated Statements of Income        
Net sales $ 1,349 $ 1,550 $ 2,892 $ 3,086
Cost of sales 1,078 1,221 2,298 2,441
Gross profit 271 329 594 645
Operating expenses 147 154 301 304
Other income, net   (2) 2 (1)
Restructuring/impairment charges 11 9 25 13
Operating income 113 168 266 329
Financing costs, net 19 16 37 38
Other, non-operating income, net     (1)  
Income before income taxes 94 152 230 291
Provision for income taxes 27 45 85 82
Net income 67 107 145 209
Less: Net income attributable to non-controlling interests 1 2 4 4
Net income attributable to Ingredion $ 66 $ 105 $ 141 $ 205
Weighted average common shares outstanding:        
Basic (in shares) 67.2 66.9 67.2 66.9
Diluted (in shares) 67.6 67.4 67.7 67.4
Earnings per common share of Ingredion:        
Basic (in dollars per share) $ 0.98 $ 1.57 $ 2.10 $ 3.06
Diluted (in dollars per share) $ 0.98 $ 1.56 $ 2.08 $ 3.04