Segment Information

6 Months Ended

Jun. 30, 2020

Segment Information

Segment Information

13. Segment Information

The Company is principally engaged in the production and sale of starches and sweeteners for a wide range of industries, and is managed geographically on a regional basis. The Company’s operations are classified into four reportable business segments: North America, South America, Asia-Pacific, and EMEA.  Its North America segment includes businesses in the U.S., Mexico, and Canada. The Company’s South America segment includes businesses in Brazil, Colombia, Ecuador, and the Southern Cone of South America, which includes Argentina, Peru, Chile, and Uruguay. Its Asia-Pacific segment includes businesses in South Korea, Thailand, China, Australia, Japan, Indonesia, Singapore, the Philippines, India, Malaysia, New Zealand, and Vietnam. The Company’s EMEA segment includes businesses in Pakistan, Germany, the United Kingdom, South Africa, and Kenya. The Company does not aggregate its operating segments when determining its reportable segments. Net sales by product are not presented because to do so would be impracticable.

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2020		2019		2020		2019
Net sales to unaffiliated customers:
North America	$	848	$	977	$	1,811	$	1,928
South America		182		226		419		454
Asia-Pacific		187		203		376		406
EMEA		132		144		286		298
Total net sales	$	1,349	$	1,550	$	2,892	$	3,086

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2020		2019		2020		2019
Operating income:
North America	$	101	$	139	$	226	$	264
South America		13		16		39		34
Asia-Pacific		22		23		42		43
EMEA		21		23		48		47
Corporate		(30)		(23)		(61)		(44)
Subtotal		127		178		294		344
Restructuring/impairment charges		(11)		(9)		(25)		(13)
Acquisition/integration costs		(3)		(1)		(3)		(2)
Total operating income	$	113	$	168	$	266	$	329

	As of		As of
(in millions)	June 30, 2020		December 31, 2019
Assets:
North America (a)	$	4,611	$	3,924
South America		647		774
Asia-Pacific		838		843
EMEA		515		499
Total assets	$	6,611	$	6,040

(a) For purposes of presentation, North America includes Corporate assets.