Segment Information

6 Months Ended

Jun. 30, 2022

Segment Information

Segment Information

13. Segment Information

Ingredion 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 nature, amount, timing and uncertainty of Ingredion’s Net sales are managed by Ingredion primarily based on our geographic segments, which we classify and report as North America, South America, Asia-Pacific and EMEA. Our North America segment includes businesses in the U.S., Mexico and Canada. Our South America segment includes businesses and our share of earnings from investments in joint ventures in Brazil, Argentina, Chile, Colombia, Ecuador, Peru and Uruguay. Our Asia-Pacific segment includes the PureCircle operating segment as well as businesses in South Korea, Thailand, China, Australia, Japan, New Zealand, Indonesia, Singapore, the Philippines, Malaysia, India and Vietnam. Our EMEA segment includes businesses in Pakistan, Germany, Poland, the United Kingdom and South Africa. Net sales by product are not presented because to do so would be impracticable.

Presented below are Ingredion’s net sales to unaffiliated customers by reportable segment for the periods indicated:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2022		2021		2022		2021
Net sales to unaffiliated customers:
North America	$	1,284	$	1,068	$	2,458	$	2,013
South America		290		268		542		541
Asia-Pacific		275		248		547		483
EMEA		195		178		389		339
Total net sales	$	2,044	$	1,762	$	3,936	$	3,376

Presented below are Ingredion’s operating income by reportable segment for the periods indicated:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2022		2021		2022		2021
Operating income:
North America	$	161	$	149	$	317	$	283
South America		39		33		77		73
Asia-Pacific		21		24		43		49
EMEA		29		32		60		63
Corporate		(35)		(30)		(69)		(59)
Subtotal		215		208		428		409
Acquisition/integration costs		—		3		(1)		2
Restructuring/impairment charges		(2)		(4)		(4)		(14)
Impairment on assets held for sale		—		—		—		(360)
Other matters		—		15		—		15
Total operating income	$	213	$	222	$	423	$	52

Presented below are Ingredion’s total assets by reportable segment as of June 30, 2022 and December 31, 2021:

	As of		As of
(in millions)	June 30, 2022		December 31, 2021
Assets:
North America (a)	$	4,527	$	4,203
South America		876		799
Asia-Pacific		1,374		1,403
EMEA		612		594
Total assets	$	7,389	$	6,999

For purposes of presentation, North America includes Corporate assets.