{"id":20643,"date":"2021-11-02T15:30:35","date_gmt":"2021-11-02T10:30:35","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=81754"},"modified":"2021-11-02T15:30:35","modified_gmt":"2021-11-02T10:30:35","slug":"ingredion-incorporated-reports-third-quarter-2021-results-and-raises-full-year-adjusted-earnings-expectation","status":"publish","type":"post","link":"https:\/\/myanmarnewsgazette.com\/ingredion-incorporated-reports-third-quarter-2021-results-and-raises-full-year-adjusted-earnings-expectation\/","title":{"rendered":"Ingredion Incorporated Reports Third Quarter 2021 Results and Raises Full Year Adjusted Earnings Expectation"},"content":{"rendered":"<div>\n<div>\n<ul type=\"disc\">\n<li>Third quarter 2021 reported and adjusted EPS* were $1.75 and $1.67, respectively, compared to third quarter 2020 reported and adjusted EPS of $1.36 and $1.77, respectively.<\/li>\n<li>The Company expects full year 2021 adjusted EPS to be in the range of $6.65-$7.00, up from the previously provided full year outlook of $6.45-$6.85.<\/li>\n<\/ul>\n<p>WESTCHESTER, Ill., Nov. 02, 2021 (GLOBE NEWSWIRE) &#8212; <a href=\"https:\/\/www.google.com\/url?q=http:\/\/www.ingredionincorporated.com\/news-events.html&amp;source=gmail-html&amp;ust=1635935304534000&amp;usg=AFQjCNGnDi0pykknyrFlJr65sF3oeCqyig\"  rel=\"nofollow noreferrer\">Ingredion Incorporated<\/a> (NYSE: INGR), a leading global provider of ingredient solutions to the food and beverage manufacturing industry, today reported results for the third quarter of 2021. The results, reported in accordance with U.S. generally accepted accounting principles (\u201cGAAP\u201d) for 2021 and 2020, include items that are excluded from the non-GAAP financial measures that the Company presents.<\/p>\n<p>\u201cWe delivered outstanding top-line performance of 17% net sales growth in the quarter resulting from well managed sales execution to fulfill strong customer demand. Every region achieved double-digit sales growth through a clear focus on managing price mix and partnering with customers to meet changing demand requirements as a result of global supply chain constraints. At the same time, we kept pace with higher input costs to deliver reported operating income up 12% and adjusted operating income down 9%, against previously anticipated high double-digit corn cost inflation,\u201d said <a href=\"https:\/\/www.google.com\/url?q=https:\/\/www.ingredion.com\/na\/en-us\/company\/meet-ingredion\/executive-leadership-team\/zallie.html&amp;source=gmail-html&amp;ust=1635935304534000&amp;usg=AFQjCNHhXTDmI14dq_TWidY2Fxpo9P6fpw\"  rel=\"nofollow noreferrer\">Jim Zallie<\/a>, Ingredion\u2019s president and chief executive officer.<\/p>\n<p>&#8220;Once again, our specialty ingredients growth platforms achieved double-digit increases in net sales, which outpaced the remainder of our portfolio. During the quarter, we generated the largest specialty sales growth from our sugar reduction and specialty sweeteners platform, driven by customer wins from PureCircle and strong demand recovery globally. In addition, consumers\u2019 heightened focus on nutrition and wellness is underpinning the robust demand we are seeing for our clean &amp; simple, texture and plant-based protein solutions,\u201d continued Zallie.<\/p>\n<p>\u201cMore broadly, we continue to execute on our <a href=\"https:\/\/www.google.com\/url?q=https:\/\/ir.ingredionincorporated.com\/&amp;source=gmail-html&amp;ust=1635935304534000&amp;usg=AFQjCNGqxNezpSOAbIdXP_DVK24cZrDmfQ\"  rel=\"nofollow noreferrer\">Driving Growth Roadmap<\/a>\u00a0to strategically shape our portfolio for the future. During the quarter, we completed the contribution of our Argentina business to the Arcor joint venture, reducing our exposure to currency volatility and high fructose corn syrup,\u201d added Zallie. \u201cOur teams are actively addressing the difficult challenges brought on by global supply chain constraints and rising inflation, to continue to serve customers, just as we have throughout the disruptions and uncertainty of the pandemic. I am incredibly proud of our employees as they engage each day to create lasting value for our stakeholders.\u201d<\/p>\n<p><sup>*Adjusted diluted earnings per share (\u201cadjusted EPS\u201d), adjusted operating income, adjusted effective income tax rate and adjusted diluted weighted average common shares outstanding are non-GAAP financial measures. See section II of the Supplemental Financial Information entitled \u201cNon-GAAP Information\u201d following the Condensed Consolidated Financial Statements included in this news release for a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures.<\/sup><\/p>\n<p><strong><u>Diluted Earnings Per Share (EPS)<\/u><\/strong><\/p>\n<div style=\"overflow-x: auto;\"><\/div>\n<table align=\"center\">\n<tbody>\n<tr>\n<td><\/td>\n<td><strong>3Q20<\/strong><\/td>\n<td><strong>3Q21<\/strong><\/td>\n<td><strong>YTD20<\/strong><\/td>\n<td><strong>YTD21<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong><em>Reported EPS<\/em><\/strong><\/td>\n<td><strong><em>$<\/em><\/strong><strong><em>1.36<\/em><\/strong><\/td>\n<td><strong><em>$<\/em><\/strong><strong><em>1.75<\/em><\/strong><\/td>\n<td><strong><em>$<\/em><\/strong><strong><em>3.45<\/em><\/strong><\/td>\n<td><strong><em>$<\/em><\/strong><strong><em>0.74<\/em><\/strong><\/td>\n<\/tr>\n<tr>\n<td>Impairment\/Restructuring costs<\/td>\n<td>0.22<\/td>\n<td>0.10<\/td>\n<td>0.51<\/td>\n<td>0.25<\/td>\n<\/tr>\n<tr>\n<td>Acquisition\/Integration costs<\/td>\n<td>0.06<\/td>\n<td>0.06<\/td>\n<td>0.10<\/td>\n<td>0.09<\/td>\n<\/tr>\n<tr>\n<td>Impairment (favorable adjustment)<sup>*<\/sup><sup>**<\/sup><\/td>\n<td>&#8211;<\/td>\n<td>(0.30)<\/td>\n<td>&#8211;<\/td>\n<td>5.02<\/td>\n<\/tr>\n<tr>\n<td>Tax items and other matters<\/td>\n<td>0.13<\/td>\n<td>0.06<\/td>\n<td>0.45<\/td>\n<td>(0.52)<\/td>\n<\/tr>\n<tr>\n<td><strong><em>Adjusted EPS<\/em><\/strong><sup><strong><em>**<\/em><\/strong><\/sup><\/td>\n<td><strong><em>$<\/em><\/strong><strong><em>1.77<\/em><\/strong><\/td>\n<td><strong><em>$<\/em><\/strong><strong><em>1.67<\/em><\/strong><\/td>\n<td><strong><em>$<\/em><\/strong><strong><em>4.50<\/em><\/strong><\/td>\n<td><strong><em>$<\/em><\/strong><strong><em>5.58<\/em><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong><u>Estimated factors affecting changes in Reported and Adjusted EPS<\/u><\/strong><\/p>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td><strong>3Q21<\/strong><\/td>\n<td><strong>YTD21<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Margin<\/td>\n<td>$(0.26)<\/td>\n<td>$0.47<\/td>\n<\/tr>\n<tr>\n<td>Volume<\/td>\n<td>0.07<\/td>\n<td>0.44<\/td>\n<\/tr>\n<tr>\n<td>Foreign exchange<\/td>\n<td>0.02<\/td>\n<td>0.10<\/td>\n<\/tr>\n<tr>\n<td>Other income<\/td>\n<td>(0.01)<\/td>\n<td>0.06<\/td>\n<\/tr>\n<tr>\n<td><strong><em>Total operating items<\/em><\/strong><\/td>\n<td><em>($0.18<\/em><em>)<\/em><\/td>\n<td><em>$<\/em><em>1.07<\/em><\/td>\n<\/tr>\n<tr>\n<td>Other non-operating income<\/td>\n<td>&#8211;<\/td>\n<td>0.01<\/td>\n<\/tr>\n<tr>\n<td>Financing costs<\/td>\n<td>(0.05)<\/td>\n<td>(0.05)<\/td>\n<\/tr>\n<tr>\n<td>Shares outstanding<\/td>\n<td>&#8211;<\/td>\n<td>(0.02)<\/td>\n<\/tr>\n<tr>\n<td>Non-controlling interests<\/td>\n<td>0.01<\/td>\n<td>(0.01)<\/td>\n<\/tr>\n<tr>\n<td>Tax rate<\/td>\n<td>0.12<\/td>\n<td>0.08<\/td>\n<\/tr>\n<tr>\n<td><strong><em>Total non-operating items<\/em><\/strong><\/td>\n<td><em>$<\/em><em>0.08<\/em><\/td>\n<td><em>$<\/em><em>0.01<\/em><\/td>\n<\/tr>\n<tr>\n<td><strong><em>Total items affecting EPS<\/em><\/strong><sup><strong><em>**<\/em><\/strong><\/sup><\/td>\n<td><strong><em>$<\/em><\/strong><strong><em>(0.10<\/em><\/strong><strong><em>)<\/em><\/strong><\/td>\n<td><strong><em>$<\/em><\/strong><strong><em>1.08<\/em><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><sup>**<strong>Totals may not foot due to rounding<br \/>\n<\/strong><\/sup><sup>*** Reported results reflect a finalized $340 million net asset impairment charge, net of a $20 million favorable adjustment in the third quarter of 2021, which reduced the $360 million asset impairment charge recorded in the first quarter, related to the contribution of the Company\u2019s Argentina operations to the Arcor joint venture.<\/sup><\/p>\n<p><strong><u>Financial Highlights<\/u><\/strong><\/p>\n<ul type=\"disc\">\n<li>At September 30, 2021, total debt and cash including short-term investments were $2.1 billion and $438 million, respectively, versus $2.2 billion and $665 million, respectively, at December 31, 2020.<\/li>\n<li>Net financing costs for the third quarter were $20 million, down compared to the year-ago reported financing costs driven by the early debt extinguishment charges that were excluded from prior year adjusted net income.<\/li>\n<li>Reported and adjusted effective tax rates for the third quarter were 22.2 percent and 21.5 percent, respectively, compared to 30.1 percent and 26.2 percent, respectively, in the year-ago period. The decrease in reported tax rate resulted primarily from U.S. foreign tax credits and other one-time adjustments. These items were partially offset by a change in value of the Mexican peso against the U.S. dollar.<\/li>\n<li>Year-to-date net capital expenditures were $186 million, down $64 million from the year-ago period.<\/li>\n<\/ul>\n<p><strong><u>Business Review <\/u><\/strong><\/p>\n<p><strong>Total Ingredion<\/strong><\/p>\n<table>\n<tbody>\n<tr>\n<td><strong>$ in millions<\/strong><\/td>\n<td><strong>2020<\/strong><br \/>\n<strong>Net Sales<\/strong><\/td>\n<td><strong>FX<br \/>\nImpact<\/strong><\/td>\n<td><strong>Volume<\/strong><\/td>\n<td><strong>Price\/mix<\/strong><\/td>\n<td><strong>2021<\/strong><br \/>\n<strong>Net Sales<\/strong><\/td>\n<td><strong>% change<\/strong><\/td>\n<td><strong>% change<\/strong><br \/>\n<strong>excl. FX<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Third quarter<\/strong><\/td>\n<td><strong>1,502<\/strong><\/td>\n<td><strong>10<\/strong><\/td>\n<td><strong>39<\/strong><\/td>\n<td><strong>212<\/strong><\/td>\n<td><strong>1,763<\/strong><\/td>\n<td><strong>17%<\/strong><\/td>\n<td><strong>17<\/strong><strong>%<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Year-to-Date<\/strong><\/td>\n<td><strong>4,394<\/strong><\/td>\n<td><strong>51<\/strong><\/td>\n<td><strong>261<\/strong><\/td>\n<td><strong>433<\/strong><\/td>\n<td><strong>5,139<\/strong><\/td>\n<td><strong>17%<\/strong><\/td>\n<td><strong>16<\/strong><strong>%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong><u><br \/>\nReported Operating Income<\/u><\/strong><\/p>\n<table>\n<tbody>\n<tr>\n<td><strong>$ in millions<\/strong><\/td>\n<td><strong>2020<\/strong><\/td>\n<td><strong>FX<br \/>\nImpact<\/strong><\/td>\n<td><strong>Business<br \/>\nDrivers<\/strong><\/td>\n<td><strong>Acquisition \/<br \/>\n<\/strong><strong>Integration<\/strong><\/td>\n<td><strong>Restructuring<br \/>\n\/ Impairment<\/strong><\/td>\n<td><strong>Other<\/strong><\/td>\n<td><strong>2021<\/strong><\/td>\n<td><strong>%<br \/>\nchange<\/strong><\/td>\n<td><strong>% change<\/strong><br \/>\n<strong>excl. FX<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Third quarter<\/strong><\/td>\n<td><strong>153<\/strong><\/td>\n<td><strong>2<\/strong><\/td>\n<td><strong>-18<\/strong><\/td>\n<td><strong>2<\/strong><\/td>\n<td><strong>28<\/strong><\/td>\n<td><strong>5<\/strong><\/td>\n<td><strong>172<\/strong><\/td>\n<td><strong>12<\/strong><strong>%<\/strong><\/td>\n<td><strong>11<\/strong><strong>%<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Year-to-Date<\/strong><\/td>\n<td><strong>419<\/strong><\/td>\n<td><strong>9<\/strong><\/td>\n<td><strong>90<\/strong><\/td>\n<td><strong>7<\/strong><\/td>\n<td><strong>-321<\/strong><\/td>\n<td><strong>20<\/strong><\/td>\n<td><strong>224<\/strong><\/td>\n<td><strong>-47%<\/strong><\/td>\n<td><strong>-49%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong><u><br \/>\nAdjusted Operating Income<\/u><\/strong><\/p>\n<table>\n<tbody>\n<tr>\n<td><strong>$ in millions<\/strong><\/td>\n<td><strong>2020<\/strong><\/td>\n<td><strong>FX<br \/>\nImpact<\/strong><\/td>\n<td><strong>Business<br \/>\nDrivers<\/strong><\/td>\n<td><strong>2021<\/strong><\/td>\n<td><strong>% change<\/strong><\/td>\n<td><strong>% change<\/strong><br \/>\n<strong>excl. FX<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Third quarter<\/strong><\/td>\n<td><strong>179<\/strong><\/td>\n<td><strong>2<\/strong><\/td>\n<td><strong>-18<\/strong><\/td>\n<td><strong>163<\/strong><\/td>\n<td><strong>-9%<\/strong><\/td>\n<td><strong>-10%<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Year-to-Date<\/strong><\/td>\n<td><strong>473<\/strong><\/td>\n<td><strong>9<\/strong><\/td>\n<td><strong>90<\/strong><\/td>\n<td><strong>572<\/strong><\/td>\n<td><strong>21%<\/strong><\/td>\n<td><strong>19%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong><br \/>\nNet Sales<\/strong><\/p>\n<ul type=\"disc\">\n<li>Third quarter and year-to-date net sales were up from the year-ago period, driven by strong price mix including the pass through of higher corn costs, and higher volumes, including PureCircle and KaTech results. Excluding foreign exchange impacts, net sales were up 17 percent and 16 percent for the quarter and year-to-date, respectively.<\/li>\n<\/ul>\n<p><strong>Operating Income<\/strong><\/p>\n<ul type=\"disc\">\n<li>Third quarter reported and adjusted operating income were $172 million and $163 million, respectively, an increase of 12 percent and a decrease of 9 percent, respectively, from the same period last year. The increase in reported operating income was driven by a favorable adjustment to the net asset impairment related to the contribution of Argentina assets to the Arcor joint venture, which was partially offset by higher corn and manufacturing costs, including costs associated with the ramp-up of plant-based protein operations in our South Sioux City and Vanscoy facilities. The decrease in adjusted operating income was driven by higher corn and manufacturing costs, including the costs associated with the ramp-up of plant-based protein operations. Excluding foreign exchange impacts, reported and adjusted operating income were up 11 percent and down 10 percent, respectively, from the same period last year.<\/li>\n<li>Year-to-date reported and adjusted operating income were $224 million and $572 million, respectively, a decrease of 47 percent and an increase of 21 percent, respectively, from the year-ago period. The decrease in reported operating income was attributable to the net asset impairment charge related to the contribution of the Company\u2019s Argentina assets to the Arcor joint venture and higher corn and manufacturing costs, which were partially offset by strong price mix and higher volumes. Excluding foreign exchange impacts, reported and adjusted operating income were down 49 percent and up 19 percent, respectively, from the same period last year.<\/li>\n<li>Third quarter reported operating income was higher than adjusted operating income by $9 million driven by a favorable adjustment to the net asset impairment related to the contribution of Argentina assets to the Arcor joint venture which was partially offset by Cost Smart-related restructuring costs.<\/li>\n<li>Year-to-date reported operating income was lower than adjusted operating income by $348 million primarily due to the net asset impairment charge related to the contribution of the Company\u2019s Argentina assets to the Arcor joint venture.<\/li>\n<\/ul>\n<p><strong>North America<\/strong><br \/>\n<strong><u>Net Sales<\/u><\/strong><\/p>\n<table>\n<tbody>\n<tr>\n<td><strong>$ in millions<\/strong><\/td>\n<td><strong>2020<\/strong><br \/>\n<strong>Net Sales<\/strong><\/td>\n<td><strong>FX<br \/>\nImpact<\/strong><\/td>\n<td><strong>Volume<\/strong><\/td>\n<td><strong>Price<\/strong><br \/>\n<strong>mix<\/strong><\/td>\n<td><strong>2021<\/strong><br \/>\n<strong>Net Sales<\/strong><\/td>\n<td><strong>% change<\/strong><\/td>\n<td><strong>% change<\/strong><br \/>\n<strong>excl. FX<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Third quarter<\/strong><\/td>\n<td><strong>928<\/strong><\/td>\n<td><strong>6<\/strong><\/td>\n<td><strong>32<\/strong><\/td>\n<td><strong>117<\/strong><\/td>\n<td><strong>1,083<\/strong><\/td>\n<td><strong>17%<\/strong><\/td>\n<td><strong>16%<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Year-to-Date<\/strong><\/td>\n<td><strong>2,739<\/strong><\/td>\n<td><strong>23<\/strong><\/td>\n<td><strong>107<\/strong><\/td>\n<td><strong>227<\/strong><\/td>\n<td><strong>3,096<\/strong><\/td>\n<td><strong>13%<\/strong><\/td>\n<td><strong>12%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong><u><br \/>\nSegment Operating Income<\/u><\/strong><\/p>\n<table>\n<tbody>\n<tr>\n<td><strong>$ in millions<\/strong><\/td>\n<td><strong>2020<\/strong><\/td>\n<td><strong>FX<br \/>\nImpact<\/strong><\/td>\n<td><strong>Business<br \/>\nDrivers<\/strong><\/td>\n<td><strong>2021<\/strong><\/td>\n<td><strong>% change<\/strong><\/td>\n<td><strong>% change<\/strong><br \/>\n<strong>excl. FX<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Third quarter<\/strong><\/td>\n<td><strong>132<\/strong><\/td>\n<td><strong>1<\/strong><\/td>\n<td><strong>-13<\/strong><\/td>\n<td><strong>120<\/strong><\/td>\n<td><strong>-9%<\/strong><\/td>\n<td><strong>-10%<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Year-to-Date<\/strong><\/td>\n<td><strong>358<\/strong><\/td>\n<td><strong>4<\/strong><\/td>\n<td><strong>41<\/strong><\/td>\n<td><strong>403<\/strong><\/td>\n<td><strong>13%<\/strong><\/td>\n<td><strong>11%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul type=\"disc\">\n<li>Third quarter operating income was $120 million, a decrease of $12 million from the year-ago period, and year-to-date operating income was $403 million, an increase of $45 million from the year-ago period. For the third quarter, the decrease was driven by higher corn and manufacturing costs, including costs associated with the ramp-up of plant-based protein operations in our South Sioux City and Vanscoy facilities. Year-to-date, the increase was driven by favorable price mix and higher volumes, which were partially offset by input cost inflation.<\/li>\n<\/ul>\n<p><strong>South America <\/strong><br \/>\n<strong><u>Net Sales<\/u><\/strong><\/p>\n<table>\n<tbody>\n<tr>\n<td><strong>$ in millions<\/strong><\/td>\n<td><strong>2020 <\/strong><br \/>\n<strong>Net Sales<\/strong><\/td>\n<td><strong>FX<br \/>\nImpact<\/strong><\/td>\n<td><strong>Volume<\/strong><\/td>\n<td><strong>Price<\/strong><br \/>\n<strong>mix<\/strong><\/td>\n<td><strong>2021 <\/strong><br \/>\n<strong>Net Sales<\/strong><\/td>\n<td><strong>% change<\/strong><\/td>\n<td><strong>% change<\/strong><br \/>\n<strong>excl. FX<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Third quarter<\/strong><\/td>\n<td><strong>224<\/strong><\/td>\n<td><strong>&#8211;<\/strong><\/td>\n<td><strong>-34<\/strong><\/td>\n<td><strong>70<\/strong><\/td>\n<td><strong>260<\/strong><\/td>\n<td><strong>16%<\/strong><\/td>\n<td><strong>16%<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Year-to-Date<\/strong><\/td>\n<td><strong>643<\/strong><\/td>\n<td><strong>-19<\/strong><\/td>\n<td><strong>-1<\/strong><\/td>\n<td><strong>178<\/strong><\/td>\n<td><strong>801<\/strong><\/td>\n<td><strong>25%<\/strong><\/td>\n<td><strong>27%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong><u><br \/>\nSegment Operating Income<\/u><\/strong><\/p>\n<table>\n<tbody>\n<tr>\n<td><strong>$ in millions<\/strong><\/td>\n<td><strong>2020<\/strong><\/td>\n<td><strong>FX<br \/>\nImpact<\/strong><\/td>\n<td><strong>Business<br \/>\nDrivers<\/strong><\/td>\n<td><strong>2021<\/strong><\/td>\n<td><strong>% change<\/strong><\/td>\n<td><strong>% change<\/strong><br \/>\n<strong>excl. FX<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Third quarter<\/strong><\/td>\n<td><strong>29<\/strong><\/td>\n<td><strong>&#8211;<\/strong><\/td>\n<td><strong>6<\/strong><\/td>\n<td><strong>35<\/strong><\/td>\n<td><strong>21%<\/strong><\/td>\n<td><strong>20%<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Year-to-Date<\/strong><\/td>\n<td><strong>68<\/strong><\/td>\n<td><strong>-2<\/strong><\/td>\n<td><strong>42<\/strong><\/td>\n<td><strong>108<\/strong><\/td>\n<td><strong>59%<\/strong><\/td>\n<td><strong>62%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul type=\"disc\">\n<li>Third quarter operating income was $35 million, an increase of $6 million from the year-ago period, and year-to-date operating income was $108 million, an increase of $40 million from the year-ago period. For both the quarter and year-to-date, the increases were driven by favorable price mix partially offset by higher corn costs. Excluding foreign exchange impacts, segment operating income was up 20 percent and 62 percent for the third quarter and year-to-date, respectively. Results for Argentina are accounted for in U.S. dollars under hyperinflationary accounting.<\/li>\n<\/ul>\n<p><strong>Asia-Pacific <\/strong><br \/>\n<strong><u>Net Sales<\/u><\/strong><\/p>\n<table>\n<tbody>\n<tr>\n<td><strong>$ in millions<\/strong><\/td>\n<td><strong>2020 <\/strong><br \/>\n<strong>Net Sales<\/strong><\/td>\n<td><strong>FX<br \/>\nImpact<\/strong><\/td>\n<td><strong>Volume<\/strong><\/td>\n<td><strong>Price<\/strong><br \/>\n<strong>mix<\/strong><\/td>\n<td><strong>2021 <\/strong><br \/>\n<strong>Net Sales<\/strong><\/td>\n<td><strong>% change<\/strong><\/td>\n<td><strong>% change<\/strong><br \/>\n<strong>excl. FX<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Third quarter<\/strong><\/td>\n<td><strong>207<\/strong><\/td>\n<td><strong>1<\/strong><\/td>\n<td><strong>18<\/strong><\/td>\n<td><strong>19<\/strong><\/td>\n<td><strong>245<\/strong><\/td>\n<td><strong>18%<\/strong><\/td>\n<td><strong>18%<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Year-to-Date<\/strong><\/td>\n<td><strong>583<\/strong><\/td>\n<td><strong>24<\/strong><\/td>\n<td><strong>108<\/strong><\/td>\n<td><strong>13<\/strong><\/td>\n<td><strong>728<\/strong><\/td>\n<td><strong>25%<\/strong><\/td>\n<td><strong>21%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong><u><br \/>\nSegment Operating Income<\/u><\/strong><\/p>\n<table>\n<tbody>\n<tr>\n<td><strong>$ in millions<\/strong><\/td>\n<td><strong>2020<\/strong><\/td>\n<td><strong>FX<br \/>\nImpact<\/strong><\/td>\n<td><strong>Business<br \/>\nDrivers<\/strong><\/td>\n<td><strong>2021<\/strong><\/td>\n<td><strong>% change<\/strong><\/td>\n<td><strong>% change<\/strong><br \/>\n<strong>excl. FX<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Third quarter<\/strong><\/td>\n<td><strong>18<\/strong><\/td>\n<td><strong>&#8211;<\/strong><\/td>\n<td><strong>3<\/strong><\/td>\n<td><strong>21<\/strong><\/td>\n<td><strong>17%<\/strong><\/td>\n<td><strong>16%<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Year-to-Date<\/strong><\/td>\n<td><strong>60<\/strong><\/td>\n<td><strong>3<\/strong><\/td>\n<td><strong>7<\/strong><\/td>\n<td><strong>70<\/strong><\/td>\n<td><strong>17%<\/strong><\/td>\n<td><strong>13%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul type=\"disc\">\n<li>Third quarter operating income was $21 million, up $3 million from the year-ago period, and year-to-date operating income was $70 million, an increase of $10 million from the year-ago period. For the third quarter, the increase was driven by higher volumes and favorable price mix, which were partially offset by higher freight and manufacturing costs. Year-to-date, the increase was driven by higher volumes and favorable foreign exchange impacts.<\/li>\n<\/ul>\n<p><strong>Europe, Middle East, and Africa (EMEA)<\/strong><br \/>\n<strong><u>Net Sales<\/u><\/strong><\/p>\n<table>\n<tbody>\n<tr>\n<td><strong>$ in millions<\/strong><\/td>\n<td><strong>2020<\/strong><br \/>\n<strong>Net Sales<\/strong><\/td>\n<td><strong>FX<br \/>\nImpact<\/strong><\/td>\n<td><strong>Volume<\/strong><\/td>\n<td><strong>Price<\/strong><br \/>\n<strong>mix<\/strong><\/td>\n<td><strong>2021<\/strong><br \/>\n<strong>Net Sales<\/strong><\/td>\n<td><strong>% change<\/strong><\/td>\n<td><strong>% change<\/strong><br \/>\n<strong>excl. FX<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Third quarter<\/strong><\/td>\n<td><strong>143<\/strong><\/td>\n<td><strong>4<\/strong><\/td>\n<td><strong>22<\/strong><\/td>\n<td><strong>6<\/strong><\/td>\n<td><strong>175<\/strong><\/td>\n<td><strong>22%<\/strong><\/td>\n<td><strong>20%<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Year-to-Date<\/strong><\/td>\n<td><strong>429<\/strong><\/td>\n<td><strong>23<\/strong><\/td>\n<td><strong>48<\/strong><\/td>\n<td><strong>14<\/strong><\/td>\n<td><strong>514<\/strong><\/td>\n<td><strong>20%<\/strong><\/td>\n<td><strong>14%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong><u><br \/>\nSegment Operating Income<\/u><\/strong><\/p>\n<table>\n<tbody>\n<tr>\n<td><strong>$ in millions<\/strong><\/td>\n<td><strong>2020<\/strong><\/td>\n<td><strong>FX<br \/>\nImpact<\/strong><\/td>\n<td><strong>Business<br \/>\nDrivers<\/strong><\/td>\n<td><strong>2021<\/strong><\/td>\n<td><strong>% change<\/strong><\/td>\n<td><strong>% change<\/strong><br \/>\n<strong>excl. FX<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Third quarter<\/strong><\/td>\n<td><strong>25<\/strong><\/td>\n<td><strong>1<\/strong><\/td>\n<td><strong>-3<\/strong><\/td>\n<td><strong>23<\/strong><\/td>\n<td><strong>-8%<\/strong><\/td>\n<td><strong>-11%<\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>Year-to-Date<\/strong><\/td>\n<td><strong>73<\/strong><\/td>\n<td><strong>4<\/strong><\/td>\n<td><strong>9<\/strong><\/td>\n<td><strong>86<\/strong><\/td>\n<td><strong>18%<\/strong><\/td>\n<td><strong>12%<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul type=\"disc\">\n<li>Third quarter operating income was $23 million, down $2 million from the year-ago period, and year-to-date operating income was $86 million, an increase of $13 million from a year ago. For the third quarter, the decrease was driven by higher corn and energy costs in Pakistan. Year-to-date, the increase was largely attributable to lower net corn costs and favorable price mix in Pakistan and favorable foreign exchange impacts in Europe.<\/li>\n<\/ul>\n<p><strong>Dividends and Share Repurchases<\/strong><br \/>\nIngredion continues to return cash to shareholders through cash dividends and share repurchases.<\/p>\n<p>In July 2021, a <a href=\"https:\/\/www.google.com\/url?q=https:\/\/ir.ingredionincorporated.com\/news-releases\/news-release-details\/ingredion-incorporated-declares-quarterly-dividend-064-share-2&amp;source=gmail-html&amp;ust=1635935304534000&amp;usg=AFQjCNH5DOSbPZ_wEEZllzByliOjd5kC3w\"  rel=\"nofollow noreferrer\">quarterly cash dividend<\/a> of $0.64 per share was paid to shareholders of record on July 1, 2021, totaling $43 million bringing total year-to-date dividend payments to $138 million. In September 2021, the Company increased the quarterly dividend by $0.01 to $0.65 per share, the seventh consecutive annual increase in the dividend.<\/p>\n<p>Ingredion repurchased $44 million of outstanding shares of common stock in the third quarter. This brings Ingredion\u2019s total year-to-date share repurchases in 2021 to $68 million.<\/p>\n<p><strong>2021 Full Year Outlook<\/strong><br \/>\nThe Company now expects full year 2021 adjusted EPS to be in the range of $6.65-$7.00 compared to adjusted EPS of $6.23 in 2020, and up from the previously provided full year outlook of $6.45-$6.85. This expectation excludes acquisition-related integration and restructuring costs, as well as any potential impairment costs.<\/p>\n<p>Compared with last year, the 2021 full year outlook is as follows: North America operating income is expected to be up low single-digits to mid-single-digits driven by higher volumes and lower operating expenses; South America operating income, including the impact of the Arcor joint venture in Argentina, is expected to be up 20 to 25 percent driven by favorable price mix; Asia-Pacific operating income is expected to be up high single-digits driven by higher volumes; EMEA operating income is expected to be up high single-digits driven by higher volumes partially offset by higher input costs; and Corporate costs are expected to be up low single-digits driven by investments in global capabilities and centers of excellence. The Company expects full year adjusted operating income to be up high single-digits.<\/p>\n<p>Cash from operations for the full year is expected to be in the range of $450 million to $550 million, which includes an increase in expected working capital due to higher expected net sales and the impact of higher corn costs on inventory. Capital expenditures for the full year are anticipated to be between $320 million and $350 million.<\/p>\n<p>For the full year, the Company expects a reported effective tax rate of 46.0 percent to 51.0 percent and an adjusted effective tax rate of 25.5 percent to 27.0 percent.<\/p>\n<p><strong>Conference Call and Webcast Details<\/strong><br \/>\nIngredion will host a conference call on Tuesday, November 2, 2021, at 8 a.m. Central Time \/ 9 a.m. Eastern Time, hosted by Jim Zallie, president and chief executive officer, and James Gray, executive vice president and chief financial officer. The call will be webcast in real time and can be accessed at <a href=\"https:\/\/www.google.com\/url?q=https:\/\/ir.ingredionincorporated.com\/events-and-presentations&amp;source=gmail-html&amp;ust=1635935304534000&amp;usg=AFQjCNFrWhPUKYnN8ebZCRafBAHqWYFJWA\"  rel=\"nofollow noreferrer\">https:\/\/ir.<wbr \/>ingredionincorporated.com\/<wbr \/>events-and-presentations<\/a>. The accompanying <a href=\"https:\/\/www.google.com\/url?q=https:\/\/ir.ingredionincorporated.com\/financial-information\/quarterly-results&amp;source=gmail-html&amp;ust=1635935304534000&amp;usg=AFQjCNF940PDYpjNeRRxD1jIsEFva_Urfw\"  rel=\"nofollow noreferrer\">presentation<\/a> will be accessible through the Company\u2019s website, and available to download a few hours prior to the start of the call. A replay will be available for a limited time at: <a href=\"https:\/\/www.google.com\/url?q=https:\/\/ir.ingredionincorporated.com\/financial-information\/quarterly-results&amp;source=gmail-html&amp;ust=1635935304534000&amp;usg=AFQjCNF940PDYpjNeRRxD1jIsEFva_Urfw\"  rel=\"nofollow noreferrer\">https:\/\/ir.<wbr \/>ingredionincorporated.com\/<wbr \/>financial-information\/<wbr \/>quarterly-results<\/a>.<\/p>\n<p><strong>About the Company<\/strong><br \/>\nIngredion Incorporated (NYSE: INGR), headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With 2020 annual net sales of $6 billion, the Company turns grains, fruits, vegetables and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. With Ingredion\u2019s Idea Labs<sup>\u00ae<\/sup> innovation centers around the world and approximately 12,000 employees, the Company co-creates with customers and fulfills its purpose of bringing the potential of people, nature and technology together to make life better. Visit <a href=\"https:\/\/www.google.com\/url?q=http:\/\/ingredion.com&amp;source=gmail-html&amp;ust=1635935304534000&amp;usg=AFQjCNFiHzs1hMjVZmQACrBvE_GI8tPyhw\"  rel=\"noreferrer\">ingredion.com<\/a> for more information and the latest Company news.<\/p>\n<p><strong>Forward-Looking Statements <\/strong><\/p>\n<p>This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends these forward-looking statements to be covered by the safe harbor provisions for such statements.<\/p>\n<p>Forward-looking statements include, among others, the Company\u2019s expectations for full-year 2021 adjusted EPS, adjusted operating income, cash from operations, capital expenditures, and reported and adjusted effective tax rates, as well as other statements regarding the Company\u2019s future prospects or financial condition, net sales, operating income, volumes, corporate costs, tax rates, capital expenditures, expenses or other financial items, any statements concerning the Company\u2019s prospects or future operations, including management\u2019s plans or strategies and objectives therefor, and any assumptions, expectations or beliefs underlying the foregoing.<\/p>\n<p>These statements can sometimes be identified by the use of forward-looking words such as \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201canticipate,\u201d \u201cassume,\u201d \u201cbelieve,\u201d \u201cplan,\u201d \u201cproject,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201ccontinue,\u201d \u201cpro forma,\u201d \u201cforecast,\u201d \u201coutlook,\u201d \u201cpropels,\u201d \u201copportunities,\u201d \u201cpotential,\u201d \u201cprovisional,\u201d or other similar expressions or the negative thereof. All statements other than statements of historical facts in this news release or referred to in or incorporated by reference into this news release are \u201cforward-looking statements.\u201d<\/p>\n<p>These statements are based on current circumstances or expectations, but are subject to certain inherent risks and uncertainties, many of which are difficult to predict and beyond our control. Although we believe our expectations reflected in these forward-looking statements are based on reasonable assumptions, investors are cautioned that no assurance can be given that our expectations will prove correct.<\/p>\n<p>Actual results and developments may differ materially from the expectations expressed in or implied by these statements, based on various factors, including the impact of COVID-19 on the demand for our products and our financial results; changing consumption preferences relating to high fructose corn syrup and other products we make; the effects of global economic conditions and the general political, economic, business, and market conditions that affect customers and consumers in the various geographic regions and countries in which we buy our raw materials or manufacture or sell our products, including, particularly, economic, currency, and political conditions in South America and economic and political conditions in Europe, and the impact these factors may have on our sales volumes, the pricing of our products and our ability to collect our receivables from customers; future financial performance of major industries which we serve and from which we derive a significant portion of our sales, including, without limitation, the food, beverage, animal nutrition, and brewing industries; the uncertainty of acceptance of products developed through genetic modification and biotechnology; our ability to develop or acquire new products and services at rates or of qualities sufficient to gain market acceptance; increased competitive and\/or customer pressure in the corn-refining industry and related industries, including with respect to the markets and prices for our primary products and our co-products, particularly corn oil; the availability of raw materials, including potato starch, tapioca, gum Arabic, and the specific varieties of corn upon which some of our products are based, and our ability to pass along potential increases in the cost of corn or other raw materials to customers; energy costs and availability, including energy issues in Pakistan; our ability to contain costs, achieve budgets, and realize expected synergies, including with respect to our ability to complete planned maintenance and investment projects on time and on budget and realize expected savings under our Cost Smart program as well as with respect to freight and shipping costs; the behavior of financial and capital markets, including with respect to foreign currency fluctuations, fluctuations in interest and exchange rates and market volatility and the associated risks of hedging against such fluctuations; our ability to successfully identify and complete acquisitions or strategic alliances on favorable terms as well as our ability to successfully integrate acquired businesses or implement and maintain strategic alliances and achieve anticipated synergies with respect to all of the foregoing; operating difficulties at our manufacturing facilities; the impact of impairment charges on our goodwill or long-lived assets; changes in our tax rates or exposure to additional income tax liability; our ability to maintain satisfactory labor relations; the impact on our business of natural disasters, war, or similar acts of hostility, threats or acts of terrorism, the outbreak or continuation of pandemics such as COVID-19, or the occurrence of other significant events beyond our control; changes in government policy, law, or regulation and costs of legal compliance, including compliance with environmental regulation; potential effects of climate change; security breaches with respect to information technology systems, processes, and sites; our ability to raise funds at reasonable rates and other factors affecting our access to sufficient funds for future growth and expansion; volatility in the stock market and other factors that could adversely affect our stock price; risks affecting the continuation of our dividend policy; and our ability to maintain effective internal control over financial reporting.<\/p>\n<p>Our forward-looking statements speak only as of the date on which they are made and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of the statement as a result of new information or future events or developments. If we do update or correct one or more of these statements, investors and others should not conclude that we will make additional updates or corrections. For a further description of these and other risks, see \u201cRisk Factors\u201d and other information included in our Annual Report on Form\u00a010-K for the year ended December 31, 2020 and in our subsequent reports on Forms 10-Q and 8-K filed with the Securities and Exchange Commission.<\/p>\n<p align=\"left\"><strong>CONTACTS:<\/strong><strong><br \/>\n<\/strong><strong>Investors:<\/strong> Jason Payant, 708-551-2584<br \/>\n<strong>Media:<\/strong> Becca Hary, 708-551-2602<\/p>\n<table>\n<tbody>\n<tr>\n<td colspan=\"21\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"21\"><strong>Ingredion Incorporated (&#8220;Ingredion&#8221;)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"21\"><strong>Condensed Consolidated Statements of Income<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"21\"><strong>(Unaudited)<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"6\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>(in millions, except per share amounts)<\/td>\n<td><\/td>\n<td colspan=\"6\"><strong>Three Months Ended<br \/>\nSeptember 30,<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>Change<br \/>\n%<\/strong><\/td>\n<td><\/td>\n<td colspan=\"6\"><strong>Nine Months Ended<br \/>\nSeptember 30,<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>Change<br \/>\n%<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>2021<\/td>\n<td><\/td>\n<td><\/td>\n<td>2020<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>2021<\/td>\n<td><\/td>\n<td><\/td>\n<td>2020<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Net sales<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>1,763<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>1,502<\/td>\n<td><\/td>\n<td><\/td>\n<td>17<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>5,139<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>4,394<\/td>\n<td><\/td>\n<td><\/td>\n<td>17<\/td>\n<td>%<\/td>\n<\/tr>\n<tr>\n<td>Cost of sales<\/td>\n<td><\/td>\n<td><\/td>\n<td>1,440<\/td>\n<td><\/td>\n<td><\/td>\n<td>1,176<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>4,098<\/td>\n<td><\/td>\n<td><\/td>\n<td>3,474<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Gross profit<\/td>\n<td><\/td>\n<td><\/td>\n<td>323<\/td>\n<td><\/td>\n<td><\/td>\n<td>326<\/td>\n<td><\/td>\n<td><\/td>\n<td>(1<\/td>\n<td>%)<\/td>\n<td><\/td>\n<td><\/td>\n<td>1,041<\/td>\n<td><\/td>\n<td><\/td>\n<td>920<\/td>\n<td><\/td>\n<td><\/td>\n<td>13<\/td>\n<td>%<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Operating expenses<\/td>\n<td><\/td>\n<td><\/td>\n<td>164<\/td>\n<td><\/td>\n<td><\/td>\n<td>155<\/td>\n<td><\/td>\n<td><\/td>\n<td>6<\/td>\n<td>%<\/td>\n<td><\/td>\n<td><\/td>\n<td>484<\/td>\n<td><\/td>\n<td><\/td>\n<td>456<\/td>\n<td><\/td>\n<td><\/td>\n<td>(6<\/td>\n<td>%)<\/td>\n<\/tr>\n<tr>\n<td>Other (income) expense, net<\/td>\n<td><\/td>\n<td><\/td>\n<td>(1<\/td>\n<td>)<\/td>\n<td><\/td>\n<td>2<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>(29<\/td>\n<td>)<\/td>\n<td><\/td>\n<td>4<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Restructuring\/impairment charges and related adjustments<\/td>\n<td><\/td>\n<td><\/td>\n<td>(12<\/td>\n<td>)<\/td>\n<td><\/td>\n<td>16<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>362<\/td>\n<td><\/td>\n<td><\/td>\n<td>41<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Operating income<\/td>\n<td><\/td>\n<td><\/td>\n<td>172<\/td>\n<td><\/td>\n<td><\/td>\n<td>153<\/td>\n<td><\/td>\n<td><\/td>\n<td>12<\/td>\n<td>%<\/td>\n<td><\/td>\n<td><\/td>\n<td>224<\/td>\n<td><\/td>\n<td><\/td>\n<td>419<\/td>\n<td><\/td>\n<td><\/td>\n<td>(47<\/td>\n<td>%)<\/td>\n<\/tr>\n<tr>\n<td>Financing costs, net<\/td>\n<td><\/td>\n<td><\/td>\n<td>20<\/td>\n<td><\/td>\n<td><\/td>\n<td>22<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>58<\/td>\n<td><\/td>\n<td><\/td>\n<td>59<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Other, non-operating (income), net<\/td>\n<td><\/td>\n<td><\/td>\n<td>(1<\/td>\n<td>)<\/td>\n<td><\/td>\n<td>(2<\/td>\n<td>)<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>(4<\/td>\n<td>)<\/td>\n<td><\/td>\n<td>(3<\/td>\n<td>)<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Income before income taxes<\/td>\n<td><\/td>\n<td><\/td>\n<td>153<\/td>\n<td><\/td>\n<td><\/td>\n<td>133<\/td>\n<td><\/td>\n<td><\/td>\n<td>15<\/td>\n<td>%<\/td>\n<td><\/td>\n<td><\/td>\n<td>170<\/td>\n<td><\/td>\n<td><\/td>\n<td>363<\/td>\n<td><\/td>\n<td><\/td>\n<td>(53<\/td>\n<td>%)<\/td>\n<\/tr>\n<tr>\n<td>Provision for income taxes<\/td>\n<td><\/td>\n<td><\/td>\n<td>34<\/td>\n<td><\/td>\n<td><\/td>\n<td>40<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>113<\/td>\n<td><\/td>\n<td><\/td>\n<td>125<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Net income<\/td>\n<td><\/td>\n<td><\/td>\n<td>119<\/td>\n<td><\/td>\n<td><\/td>\n<td>93<\/td>\n<td><\/td>\n<td><\/td>\n<td>28<\/td>\n<td>%<\/td>\n<td><\/td>\n<td><\/td>\n<td>57<\/td>\n<td><\/td>\n<td><\/td>\n<td>238<\/td>\n<td><\/td>\n<td><\/td>\n<td>(76<\/td>\n<td>%)<\/td>\n<\/tr>\n<tr>\n<td>Less: Net income attributable to non-controlling interests<\/td>\n<td><\/td>\n<td><\/td>\n<td>1<\/td>\n<td><\/td>\n<td><\/td>\n<td>1<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>7<\/td>\n<td><\/td>\n<td><\/td>\n<td>5<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Net income attributable to Ingredion<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>118<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>92<\/td>\n<td><\/td>\n<td><\/td>\n<td>28<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>50<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>233<\/td>\n<td><\/td>\n<td><\/td>\n<td>(79<\/td>\n<td>%)<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Earnings per common share attributable to Ingredion<\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>common shareholders:<\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Weighted average common shares outstanding:<\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Basic<\/td>\n<td><\/td>\n<td><\/td>\n<td>67.0<\/td>\n<td><\/td>\n<td><\/td>\n<td>67.2<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>67.2<\/td>\n<td><\/td>\n<td><\/td>\n<td>67.2<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Diluted<\/td>\n<td><\/td>\n<td><\/td>\n<td>67.6<\/td>\n<td><\/td>\n<td><\/td>\n<td>67.6<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>67.8<\/td>\n<td><\/td>\n<td><\/td>\n<td>67.6<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Earnings per common share of Ingredion:<\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Basic<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>1.76<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>1.37<\/td>\n<td><\/td>\n<td><\/td>\n<td>28<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>0.74<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>3.47<\/td>\n<td><\/td>\n<td><\/td>\n<td>(79<\/td>\n<td>%)<\/td>\n<\/tr>\n<tr>\n<td>Diluted<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>1.75<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>1.36<\/td>\n<td><\/td>\n<td><\/td>\n<td>29<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>0.74<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>3.45<\/td>\n<td><\/td>\n<td><\/td>\n<td>(79<\/td>\n<td>%)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table>\n<tbody>\n<tr>\n<td colspan=\"9\"><strong>Ingredion Incorporated (&#8220;Ingredion&#8221;)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\"><strong>Condensed Consolidated Balance Sheets<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>(in millions, except share and per share amounts)<\/td>\n<td><\/td>\n<td colspan=\"3\"><strong>September 30, 2021<\/strong><\/td>\n<td><\/td>\n<td colspan=\"3\"><strong>December 31, 2020<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><strong>(Unaudited)<\/strong><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Assets<\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Current assets<\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Cash and cash equivalents<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>434<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>665<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Short-term investments<\/td>\n<td><\/td>\n<td><\/td>\n<td>4<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Accounts receivable \u2013 net<\/td>\n<td><\/td>\n<td><\/td>\n<td>1,128<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>1,011<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Inventories<\/td>\n<td><\/td>\n<td><\/td>\n<td>1,093<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>917<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Prepaid expenses<\/td>\n<td><\/td>\n<td><\/td>\n<td>74<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>54<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Total current assets<\/td>\n<td><\/td>\n<td><\/td>\n<td>2,733<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>2,647<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Property, plant and equipment \u2013 net<\/td>\n<td><\/td>\n<td><\/td>\n<td>2,369<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>2,455<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Goodwill<\/td>\n<td><\/td>\n<td><\/td>\n<td>916<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>902<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Other intangible assets \u2013 net<\/td>\n<td><\/td>\n<td><\/td>\n<td>424<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>444<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Operating lease assets<\/td>\n<td><\/td>\n<td><\/td>\n<td>191<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>173<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Deferred income tax assets<\/td>\n<td><\/td>\n<td><\/td>\n<td>17<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>23<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Other assets<\/td>\n<td><\/td>\n<td><\/td>\n<td>336<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>214<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><strong>Total assets<\/strong><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>6,986<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>6,858<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td><strong>Liabilities and equity<\/strong><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Current liabilities<\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Short-term borrowings<\/td>\n<td><\/td>\n<td><\/td>\n<td>398<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>438<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Accounts payable and accrued liabilities<\/td>\n<td><\/td>\n<td><\/td>\n<td>1,059<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>1,020<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Total current liabilities<\/td>\n<td><\/td>\n<td><\/td>\n<td>1,457<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>1,458<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Other non-current liabilities<\/td>\n<td><\/td>\n<td><\/td>\n<td>226<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>227<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Long-term debt<\/td>\n<td><\/td>\n<td><\/td>\n<td>1,748<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>1,748<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Non-current operating lease liabilities<\/td>\n<td><\/td>\n<td><\/td>\n<td>152<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>136<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Deferred income tax liabilities<\/td>\n<td><\/td>\n<td><\/td>\n<td>200<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>217<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Total liabilities<\/td>\n<td><\/td>\n<td><\/td>\n<td>3,783<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>3,786<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Share-based payments subject to redemption<\/td>\n<td><\/td>\n<td><\/td>\n<td>32<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>30<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Redeemable non-controlling interests<\/td>\n<td><\/td>\n<td><\/td>\n<td>68<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>70<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Equity<\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Ingredion stockholders&#8217; equity:<\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Preferred stock \u2013 authorized 25,000,000 shares \u2013 $0.01 par value, none issued<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Common stock \u2013 authorized 200,000,000 shares \u2013 $0.01 par value, 77,810,875 shares issued at September 30, 2021 and December 31, 2020<\/td>\n<td><\/td>\n<td><\/td>\n<td>1<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>1<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Additional paid-in capital<\/td>\n<td><\/td>\n<td><\/td>\n<td>1,155<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>1,150<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Less: Treasury stock (common stock; 11,295,044 and 10,795,346 shares at September 30, 2021 and December 31, 2020, respectively) at cost<\/td>\n<td><\/td>\n<td><\/td>\n<td>(1,072<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(1,024<\/td>\n<td>)<\/td>\n<\/tr>\n<tr>\n<td>Accumulated other comprehensive loss<\/td>\n<td><\/td>\n<td><\/td>\n<td>(877<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(1,133<\/td>\n<td>)<\/td>\n<\/tr>\n<tr>\n<td>Retained earnings<\/td>\n<td><\/td>\n<td><\/td>\n<td>3,877<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>3,957<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Total Ingredion stockholders&#8217; equity<\/td>\n<td><\/td>\n<td><\/td>\n<td>3,084<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>2,951<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Non-redeemable non-controlling interests<\/td>\n<td><\/td>\n<td><\/td>\n<td>19<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>21<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Total equity<\/td>\n<td><\/td>\n<td><\/td>\n<td>3,103<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>2,972<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td><strong>Total liabilities and equity<\/strong><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>6,986<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>6,858<\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table>\n<tbody>\n<tr>\n<td colspan=\"9\"><strong>Ingredion Incorporated (&#8220;Ingredion&#8221;)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\"><strong>Condensed Consolidated Statements of Cash Flows<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\"><strong>(Unaudited)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"7\"><strong>For the Nine Months Ended September 30,<\/strong><\/td>\n<\/tr>\n<tr>\n<td>(in millions)<\/td>\n<td><\/td>\n<td><\/td>\n<td><strong>2021<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><strong>2020<\/strong><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td><strong>Cash provided by operating activities:<\/strong><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Net income<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>57<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>238<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Adjustments to reconcile net income to net cash provided by operating activities:<\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Depreciation and amortization<\/td>\n<td><\/td>\n<td><\/td>\n<td>155<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>158<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Mechanical stores expense<\/td>\n<td><\/td>\n<td><\/td>\n<td>40<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>39<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Deferred income taxes<\/td>\n<td><\/td>\n<td><\/td>\n<td>(25<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(1<\/td>\n<td>)<\/td>\n<\/tr>\n<tr>\n<td>Impairment on disposition of assets<\/td>\n<td><\/td>\n<td><\/td>\n<td>340<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Charge for fair value markup of acquired inventory<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>3<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Margin accounts<\/td>\n<td><\/td>\n<td><\/td>\n<td>(34<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>6<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Changes in other trade working capital<\/td>\n<td><\/td>\n<td><\/td>\n<td>(258<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>80<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Other<\/td>\n<td><\/td>\n<td><\/td>\n<td>(16<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>39<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Cash provided by operating activities<\/td>\n<td><\/td>\n<td><\/td>\n<td>259<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>562<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td><strong>Cash used for investing activities:<\/strong><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Capital expenditures and mechanical stores purchases, net proceeds on disposals<\/td>\n<td><\/td>\n<td><\/td>\n<td>(186<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(250<\/td>\n<td>)<\/td>\n<\/tr>\n<tr>\n<td>Payments for acquisitions, net of cash acquired<\/td>\n<td><\/td>\n<td><\/td>\n<td>(40<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(208<\/td>\n<td>)<\/td>\n<\/tr>\n<tr>\n<td>Investment in a non-consolidated affiliate<\/td>\n<td><\/td>\n<td><\/td>\n<td>(8<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(6<\/td>\n<td>)<\/td>\n<\/tr>\n<tr>\n<td>Short-term investments<\/td>\n<td><\/td>\n<td><\/td>\n<td>(4<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>4<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Cash used for investing activities<\/td>\n<td><\/td>\n<td><\/td>\n<td>(238<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(460<\/td>\n<td>)<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td><strong>Cash (used for) provided by financing activities:<\/strong><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>(Payments on) proceeds from borrowings, net<\/td>\n<td><\/td>\n<td><\/td>\n<td>(390<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>341<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Commercial paper borrowings, net<\/td>\n<td><\/td>\n<td><\/td>\n<td>350<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Debt issuance costs<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>(9<\/td>\n<td>)<\/td>\n<\/tr>\n<tr>\n<td>Repurchases of common stock, net<\/td>\n<td><\/td>\n<td><\/td>\n<td>(68<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Issuances of common stock for share-based compensation, net of settlements<\/td>\n<td><\/td>\n<td><\/td>\n<td>10<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>2<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Dividends paid, including to non-controlling interests<\/td>\n<td><\/td>\n<td><\/td>\n<td>(138<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(132<\/td>\n<td>)<\/td>\n<\/tr>\n<tr>\n<td>Cash (used for) provided by financing activities<\/td>\n<td><\/td>\n<td><\/td>\n<td>(236<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>202<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Effect of foreign exchange rate changes on cash<\/td>\n<td><\/td>\n<td><\/td>\n<td>(16<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(15<\/td>\n<td>)<\/td>\n<\/tr>\n<tr>\n<td>(Decrease) increase in cash and cash equivalents<\/td>\n<td><\/td>\n<td><\/td>\n<td>(231<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>289<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Cash and cash equivalents, beginning of period<\/td>\n<td><\/td>\n<td><\/td>\n<td>665<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>264<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td>Cash and cash equivalents, end of period<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>434<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>553<\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table>\n<tbody>\n<tr>\n<td colspan=\"28\"><strong>Ingredion Incorporated (&#8220;Ingredion&#8221;)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"28\"><strong>Supplemental Financial Information<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"28\"><strong>(Unaudited)<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"28\"><strong>I. Geographic Information of Net Sales and Operating Income<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>(in millions, except for percentages)<\/td>\n<td><\/td>\n<td colspan=\"7\"><strong>Three Months Ended September 30,<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>Change<\/strong><\/td>\n<td><\/td>\n<td colspan=\"7\"><strong>Nine Months Ended September 30,<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>Change<\/strong><\/td>\n<td colspan=\"2\"><strong>Change<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><strong>2021<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><strong>2020<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>Change<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>Excl. FX<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<td><strong>2021<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td><strong>2020<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>%<\/strong><\/td>\n<td colspan=\"2\"><strong>Excl. FX<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Net Sales<\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>North America<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>1,083<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>928<\/td>\n<td><\/td>\n<td><\/td>\n<td>17<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>16<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>3,096<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>2,739<\/td>\n<td><\/td>\n<td><\/td>\n<td>13<\/td>\n<td>%<\/td>\n<td>12<\/td>\n<td>%<\/td>\n<\/tr>\n<tr>\n<td>South America<\/td>\n<td><\/td>\n<td><\/td>\n<td>260<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>224<\/td>\n<td><\/td>\n<td><\/td>\n<td>16<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>16<\/td>\n<td>%<\/td>\n<td><\/td>\n<td><\/td>\n<td>801<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>643<\/td>\n<td><\/td>\n<td><\/td>\n<td>25<\/td>\n<td>%<\/td>\n<td>27<\/td>\n<td>%<\/td>\n<\/tr>\n<tr>\n<td>Asia-Pacific<\/td>\n<td><\/td>\n<td><\/td>\n<td>245<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>207<\/td>\n<td><\/td>\n<td><\/td>\n<td>18<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>18<\/td>\n<td>%<\/td>\n<td><\/td>\n<td><\/td>\n<td>728<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>583<\/td>\n<td><\/td>\n<td><\/td>\n<td>25<\/td>\n<td>%<\/td>\n<td>21<\/td>\n<td>%<\/td>\n<\/tr>\n<tr>\n<td>EMEA<\/td>\n<td><\/td>\n<td><\/td>\n<td>175<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>143<\/td>\n<td><\/td>\n<td><\/td>\n<td>22<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>20<\/td>\n<td>%<\/td>\n<td><\/td>\n<td><\/td>\n<td>514<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>429<\/td>\n<td><\/td>\n<td><\/td>\n<td>20<\/td>\n<td>%<\/td>\n<td>14<\/td>\n<td>%<\/td>\n<\/tr>\n<tr>\n<td>Total Net Sales<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>1,763<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>1,502<\/td>\n<td><\/td>\n<td><\/td>\n<td>17<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>17<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>5,139<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>4,394<\/td>\n<td><\/td>\n<td><\/td>\n<td>17<\/td>\n<td>%<\/td>\n<td>16<\/td>\n<td>%<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Operating Income<\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>North America<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>120<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>132<\/td>\n<td><\/td>\n<td><\/td>\n<td>(9<\/td>\n<td>%)<\/td>\n<td><\/td>\n<td>(10<\/td>\n<td>%)<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>403<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>358<\/td>\n<td><\/td>\n<td><\/td>\n<td>13<\/td>\n<td>%<\/td>\n<td>11<\/td>\n<td>%<\/td>\n<\/tr>\n<tr>\n<td>South America<\/td>\n<td><\/td>\n<td><\/td>\n<td>35<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>29<\/td>\n<td><\/td>\n<td><\/td>\n<td>21<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>20<\/td>\n<td>%<\/td>\n<td><\/td>\n<td><\/td>\n<td>108<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>68<\/td>\n<td><\/td>\n<td><\/td>\n<td>59<\/td>\n<td>%<\/td>\n<td>62<\/td>\n<td>%<\/td>\n<\/tr>\n<tr>\n<td>Asia-Pacific<\/td>\n<td><\/td>\n<td><\/td>\n<td>21<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>18<\/td>\n<td><\/td>\n<td><\/td>\n<td>17<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>16<\/td>\n<td>%<\/td>\n<td><\/td>\n<td><\/td>\n<td>70<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>60<\/td>\n<td><\/td>\n<td><\/td>\n<td>17<\/td>\n<td>%<\/td>\n<td>13<\/td>\n<td>%<\/td>\n<\/tr>\n<tr>\n<td>EMEA<\/td>\n<td><\/td>\n<td><\/td>\n<td>23<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>25<\/td>\n<td><\/td>\n<td><\/td>\n<td>(8<\/td>\n<td>%)<\/td>\n<td><\/td>\n<td>(11<\/td>\n<td>%)<\/td>\n<td><\/td>\n<td><\/td>\n<td>86<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>73<\/td>\n<td><\/td>\n<td><\/td>\n<td>18<\/td>\n<td>%<\/td>\n<td>12<\/td>\n<td>%<\/td>\n<\/tr>\n<tr>\n<td>Corporate<\/td>\n<td><\/td>\n<td><\/td>\n<td>(36<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(25<\/td>\n<td>)<\/td>\n<td><\/td>\n<td>(44<\/td>\n<td>%)<\/td>\n<td><\/td>\n<td>(44<\/td>\n<td>%)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(95<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(86<\/td>\n<td>)<\/td>\n<td><\/td>\n<td>(10<\/td>\n<td>%)<\/td>\n<td>(10<\/td>\n<td>%)<\/td>\n<\/tr>\n<tr>\n<td>Sub-total<\/td>\n<td><\/td>\n<td><\/td>\n<td>163<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>179<\/td>\n<td><\/td>\n<td><\/td>\n<td>(9<\/td>\n<td>%)<\/td>\n<td><\/td>\n<td>(10<\/td>\n<td>%)<\/td>\n<td><\/td>\n<td><\/td>\n<td>572<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>473<\/td>\n<td><\/td>\n<td><\/td>\n<td>21<\/td>\n<td>%<\/td>\n<td>19<\/td>\n<td>%<\/td>\n<\/tr>\n<tr>\n<td>Acquisition\/integration costs<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>(5<\/td>\n<td>)<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>(5<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(8<\/td>\n<td>)<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Equity method acquisition charges<\/td>\n<td><\/td>\n<td><\/td>\n<td>(3<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>4<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Restructuring\/impairment charges<\/td>\n<td><\/td>\n<td><\/td>\n<td>(8<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(16<\/td>\n<td>)<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>(22<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(41<\/td>\n<td>)<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Impairment on disposition of assets<\/td>\n<td><\/td>\n<td><\/td>\n<td>20<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>(340<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Other matters<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>15<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Charge for fair value markup of acquired inventory<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>(3<\/td>\n<td>)<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>(3<\/td>\n<td>)<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>North America storm damage<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>(2<\/td>\n<td>)<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>(2<\/td>\n<td>)<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Total Operating Income<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>172<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>153<\/td>\n<td><\/td>\n<td><\/td>\n<td>12<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>11<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>224<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>419<\/td>\n<td><\/td>\n<td><\/td>\n<td>(47<\/td>\n<td>%)<\/td>\n<td>(49<\/td>\n<td>%)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>II. Non-GAAP Information<\/strong><\/p>\n<p>To supplement the consolidated financial results prepared in accordance with U.S. generally accepted accounting principles (\u201cGAAP\u201d), we use non-GAAP historical financial measures, which exclude certain GAAP items such as acquisition and integration costs, restructuring and impairment costs, Mexico tax provision (benefit), and certain other special items. We generally use the term \u201cadjusted\u201d when referring to these non-GAAP amounts.<\/p>\n<p>Management uses non-GAAP financial measures internally for strategic decision making, forecasting future results and evaluating current performance. By disclosing non-GAAP financial measures, management intends to provide investors with a more meaningful, consistent comparison of our operating results and trends for the periods presented. These non-GAAP financial measures are used in addition to and in conjunction with results presented in accordance with GAAP and reflect an additional way of viewing aspects of our operations that, when viewed with our GAAP results, provide a more complete understanding of factors and trends affecting our business. These non-GAAP measures should be considered as a supplement to, and not as a substitute for, or superior to, the corresponding measures calculated in accordance with GAAP.<\/p>\n<p>Non-GAAP financial measures are not prepared in accordance with GAAP; therefore, the information is not necessarily comparable to similarly titled measures presented by other companies. A reconciliation of each non-GAAP financial measure to the most comparable GAAP measure is provided in the tables below.<\/p>\n<table>\n<tbody>\n<tr>\n<td colspan=\"29\"><strong>Ingredion Incorporated (&#8220;Ingredion&#8221;)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"29\"><strong>Reconciliation of GAAP Net Income attributable to Ingredion and Diluted Earnings Per Share (&#8220;EPS&#8221;) to <\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"29\"><strong>Non-GAAP Adjusted Net Income attributable to Ingredion and Adjusted Diluted EPS<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"29\"><strong>(Unaudited)<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"6\">Three Months Ended<\/td>\n<td><\/td>\n<td colspan=\"6\">Three Months Ended<\/td>\n<td><\/td>\n<td colspan=\"6\">Nine Months Ended<\/td>\n<td><\/td>\n<td colspan=\"6\">Nine Months Ended<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"6\">September 30, 2021<\/td>\n<td><\/td>\n<td colspan=\"6\">September 30, 2020<\/td>\n<td><\/td>\n<td colspan=\"6\">September 30, 2021<\/td>\n<td><\/td>\n<td colspan=\"6\">September 30, 2020<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\">(in millions)<\/td>\n<td colspan=\"3\">Diluted EPS<\/td>\n<td><\/td>\n<td colspan=\"3\">(in millions)<\/td>\n<td colspan=\"3\">Diluted EPS<\/td>\n<td><\/td>\n<td colspan=\"3\">(in millions)<\/td>\n<td colspan=\"3\">Diluted EPS<\/td>\n<td><\/td>\n<td colspan=\"3\">(in millions)<\/td>\n<td colspan=\"3\">Diluted EPS<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Net income attributable to Ingredion<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>118<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>1.75<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>92<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>1.36<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>50<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>0.74<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>233<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>3.45<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Add back:<\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Acquisition\/integration costs, net of an insignificant amount of income tax expense for the three and nine months ended September 30, 2021, and net of income tax benefit of $1 million and $2 million for the three and nine months ended September 30, 2020 (i)<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>4<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.06<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>5<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.08<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>6<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.10<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Equity method acquisition charges, net of income tax expense of $ &#8211; million and $4 million for the three and nine months ended September 30, 2021, respectively (ii)<\/td>\n<td><\/td>\n<td><\/td>\n<td>4<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.06<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>1<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.01<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Restructuring\/impairment charges, net of income tax benefit of $1 million and $5 million for the three and nine months ended September 30, 2021, respectively, and $1 million and $7 million for the three and nine months ended September 30, 2020, respectively (iii)<\/td>\n<td><\/td>\n<td><\/td>\n<td>7<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.10<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>15<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.22<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>17<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.25<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>34<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.51<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Impairment on disposition of assets, net of $ &#8211; million of income tax benefit for the three and nine months ended September 30, 2021 (iv)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(20<\/td>\n<td>)<\/td>\n<td><\/td>\n<td>(0.30<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>340<\/td>\n<td><\/td>\n<td><\/td>\n<td>5.02<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Other matters, net of income tax expense of $ &#8211; and $5 million for the three and nine months ended September 30, 2021, respectively (v)<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>(10<\/td>\n<td>)<\/td>\n<td><\/td>\n<td>(0.15<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Charge for fair value markup of acquired inventory, net of income tax benefit of $ &#8211; for the three and nine months ending September 30, 2020, respectively (vi)<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>3<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.04<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>3<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.04<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Charge for early extinguishment of debt, net of income tax benefit of $1 million for the three and nine months ended September 30, 2020, respectively (vii)<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>4<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.06<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>4<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.06<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>North America storm damage, net of income tax benefit of $ &#8211; for the three and nine months ended September 30, 2020, respectively (viii)<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>2<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.03<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>2<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.03<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Tax provision (benefit) &#8211; Mexico (ix)<\/td>\n<td><\/td>\n<td><\/td>\n<td>5<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.07<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>(6<\/td>\n<td>)<\/td>\n<td><\/td>\n<td>(0.08<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>4<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.06<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>16<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.24<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Other tax matters (x)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(1<\/td>\n<td>)<\/td>\n<td><\/td>\n<td>(0.01<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>6<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.09<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>(29<\/td>\n<td>)<\/td>\n<td><\/td>\n<td>(0.43<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>6<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.09<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Non-GAAP adjusted net income attributable to Ingredion<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>113<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>1.67<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>120<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>1.77<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>378<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>5.58<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>304<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>4.50<\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><u><br \/>\nNotes<\/u><\/p>\n<p>(i) During the three and nine months ended September 30, 2021, the Company recorded pre-tax charges of $ &#8211; million and $5 million, respectively of acquisition and integration costs, primarily related to the acquisition and integration of the business acquired from PureCircle Limited, KaTech, and Verdient Foods, Inc. During the three and nine months ended September 30, 2020, the Company recorded $5 million and $8 million of pre-tax charges primarily related to the acquisition and integration of the business acquired from PureCircle Limited. Acquisition and integration costs presented in the &#8220;reconciliation of adjusted net income attributable to Ingredion&#8221; table are net of costs attributable to non-controlling interest.<\/p>\n<p>(ii) During the three and nine months ended September 30, 2021, the Company recorded pre-tax charges of $3 million and pre-tax benefits of $4 million, respectively related to its equity method investments in Amyris, Inc (&#8220;Amyris&#8221;) and Ingrear Holdings, S.A, the Arcor joint venture.<\/p>\n<p>As part of the Amyris equity method investment, the Company has exclusive commercialization rights to Amyris\u2019 rebaudioside M by fermentation sweetener (\u201cReb M\u201d), the exclusive licensing of Amyris&#8217; Reb M manufacturing technology, and a 31 percent ownership stake in a Reb M joint venture. In exchange for the ownership in the joint venture, Ingredion contributed $28 million of total consideration including $10 million of cash, and non-exclusive intellectual property licenses and other consideration valued at $18 million. The transaction resulted in $8 million in Other (income) expense, net recorded in the Condensed Consolidated Statements of Income (Loss) during the nine months ended September 30, 2021. The gain on the transaction is partly offset by $1 million of acquisition charges for the nine months ended September 2021. Additionally, the equity method acquisition charges presented in the &#8220;reconciliation of adjusted net income attributable to Ingredion&#8221; table are shown net of acquisition gains attributable to non-controlling interest of $1 million.<\/p>\n<p>During the three and nine months ended September 30, 2021, the Company finalized all closing conditions and agreements necessary to finalize the contribution of the Company&#8217;s Argentina operations to the Arcor joint venture in exchange its equity method investment in Ingrear. The Company recorded pre-tax acquisition charges of $3 million related to this equity method investment.<\/p>\n<p>(iii) During the three months ended September 30, 2021, the Company recorded $8 million of pre-tax restructuring-related charges, consisting of $4 million of employee-related and other costs, including professional services, associated with its Cost Smart SG&amp;A program, $3 million of restructuring-related charges primarily in North America as a part of its Cost Smart Cost of sales program, and $1 million of employee-related and other restructuring costs associated with the contribution of Argentina to the Arcor joint venture. During the nine months ended September 30, 2021, the Company recorded $22 million of pre-tax restructuring-related charges, consisting of $13 million of employee-related and other costs, including professional services, associated with its Cost Smart SG&amp;A program, $11 million of restructuring-related charges as part of its Cost Smart Cost of sales program, primarily in North America, and $3 million of employee-related and other restructuring costs associated with the contribution of Argentina to the Arcor joint venture. The Cost Smart Cost of sales program charges were partly offset by a $5 million gain on the sale of Stockton, California land and building during the year.<\/p>\n<p>During the three months ended September 30, 2020, the Company recorded $6 million of pre-tax restructuring\/impairment charges, consisting of $4 million of employee-related and other costs, including professional services, associated with its Cost Smart SG&amp;A program and $2 million of restructuring-related charges primarily in North America and APAC as part of its Cost Smart Cost of sales program. During the nine months ended September 30, 2020, the Company recorded $41 million of pre-tax restructuring\/impairment charges, consisting of $17 million of restructuring-related charges primarily in North America and APAC as part of its Cost Smart Cost of sales program and $14 million of employee-related and other costs, including professional services, associated with its Cost Smart SG&amp;A program. In addition, the Company recorded a $10 million impairment of an equity method investment during the three months ended September 30, 2020, triggered by the decrease in fair value of its investment resulting from the agreed upon purchase price of the remaining 80% interest in Verdient Foods, Inc.<\/p>\n<p>(iv) During the nine months ended September 30, 2021, the Company recorded a $340 million net asset impairment charge related to the contribution of the Company&#8217;s Argentina operations to the Arcor joint venture. The impairment charge reflects a $29 million write-down to the agreed upon fair value of certain Argentina, Chile and Uruguay assets and liabilities contributed and a $311 million write-off of the cumulative translation losses related to the contributed net assets. During the three months ended September 30, 2021, the Company recorded a $20 million favorable adjustment to the impairment upon finalization of the transaction, which reduced the $360 million asset impairment charge recorded in the first quarter.<\/p>\n<p>(v) In May 2021, the Brazilian Supreme Court issued their ruling related to the calculation of certain indirect taxes, and the ruling affirmed the lower court rulings that the Company had received in previous years and ensured that the Company is entitled to the previously recorded tax credits. The Supreme Court ruling also ensures that the Company will be entitled to $15 million of additional credits from the period of 2015 to 2018 that was previously awaiting final court ruling. The Company recorded the $15 million of additional credits during the nine months ended September 30, 2021 within Other income (expense), net in the Condensed Consolidated Income statement.<\/p>\n<p>(vi) The three and nine months ended September 30, 2020 includes the flow-through costs associated with the purchase of PureCircle Limited inventory that was adjusted to fair value at the acquisition date in accordance with business combination accounting rules.<\/p>\n<p>(vii) During the three and nine months ended September 30, 2020, the Company incurred $5 million of charges directly related to the early debt extinguishment of the $400 million 4.625% senior notes due November 1, 2020. The Company recorded the debt extinguishment charges within Financing costs, net on the Condensed Consolidated Statements of Income.<\/p>\n<p>(viii) During the three and nine months ended September 30, 2020, the Company incurred storm damage to the Cedar Rapids, IA manufacturing facility. The facility was shut down for 10 days, and the storm-related damage resulted in $2 million of charges during the three months ended September 30, 2020. The Company recorded the storm damage costs within Other (income) expense, net on the Condensed Consolidated Statements of Income.<\/p>\n<p>(ix) The tax item represents the impact of the Company\u2019s use of the U.S. dollar as the functional currency for its subsidiaries in Mexico. Mexico\u2019s effective tax rate is strongly influenced by the remeasurement of the Mexican peso financial statements into U.S. dollars. The company recorded a tax provision of $5 million and a tax benefit of $6 million for the three months ended September 30, 2021 and 2020, respectively, and a tax provision of $4 million and $16 million for the nine months ended September 30, 2021 and 2020, respectively as a result of the movement of the Mexican peso against the U.S. dollar during the periods.<\/p>\n<p>(x) This item relates to the reversal of tax liabilities related to certain unremitted earnings from foreign subsidiaries, tax adjustments for an intercompany reorganization, and tax results of the above non-GAAP addbacks.<\/p>\n<table>\n<tbody>\n<tr>\n<td colspan=\"15\"><strong>Ingredion Incorporated (&#8220;Ingredion&#8221;)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"15\"><strong>Reconciliation of GAAP Operating Income to Non-GAAP Adjusted Operating Income<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"15\"><strong>(Unaudited)<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"6\">Three Months Ended<\/td>\n<td><\/td>\n<td colspan=\"6\">Nine Months Ended<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"6\">September 30,<\/td>\n<td><\/td>\n<td colspan=\"6\">September 30,<\/td>\n<\/tr>\n<tr>\n<td>(in millions, pre-tax)<\/td>\n<td><\/td>\n<td><\/td>\n<td>2021<\/td>\n<td><\/td>\n<td><\/td>\n<td>2020<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>2021<\/td>\n<td><\/td>\n<td><\/td>\n<td>2020<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Operating income<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>172<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>153<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>224<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>419<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Add back:<\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Acquisition\/integration costs (i)<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td>5<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>5<\/td>\n<td><\/td>\n<td><\/td>\n<td>8<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Equity method acquisition charges (ii)<\/td>\n<td><\/td>\n<td><\/td>\n<td>3<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>(4<\/td>\n<td>)<\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Restructuring\/impairment charges (iii)<\/td>\n<td><\/td>\n<td><\/td>\n<td>8<\/td>\n<td><\/td>\n<td><\/td>\n<td>16<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>22<\/td>\n<td><\/td>\n<td><\/td>\n<td>41<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Impairment on disposition of assets (iv)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(20<\/td>\n<td>)<\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>340<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Other matters (v)<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>(15<\/td>\n<td>)<\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Charge for fair value markup of acquired inventory (vi)<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td>3<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td>3<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>North America storm damage (viii)<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td>2<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td>2<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Non-GAAP adjusted operating income<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>163<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>179<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>572<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>473<\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>For notes (i) through (viii), see notes (i) through (viii) included in the Reconciliation of GAAP Net Income attributable to Ingredion and Diluted EPS to Non-GAAP Adjusted Net Income attributable to Ingredion and Adjusted Diluted EPS.<\/p>\n<table>\n<tbody>\n<tr>\n<td colspan=\"23\"><strong>Ingredion Incorporated (&#8220;Ingredion&#8221;)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"23\"><strong>Reconciliation of GAAP Effective Income Tax Rate to Non-GAAP Adjusted Effective Income Tax Rate<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"23\"><strong>(Unaudited)<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"10\">Three Months Ended September 30, 2021<\/td>\n<td><\/td>\n<td colspan=\"10\">Nine Months Ended September 30, 2021<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\">Income before<\/td>\n<td><\/td>\n<td colspan=\"3\">Provision for<\/td>\n<td><\/td>\n<td colspan=\"2\">Effective Income<\/td>\n<td><\/td>\n<td colspan=\"3\">Income before<\/td>\n<td><\/td>\n<td colspan=\"3\">Provision for<\/td>\n<td><\/td>\n<td colspan=\"2\">Effective Income<\/td>\n<\/tr>\n<tr>\n<td>(in millions)<\/td>\n<td><\/td>\n<td colspan=\"3\">Income Taxes (a)<\/td>\n<td><\/td>\n<td colspan=\"3\">Income Taxes (b)<\/td>\n<td><\/td>\n<td colspan=\"2\">Tax Rate (b \/ a)<\/td>\n<td><\/td>\n<td colspan=\"3\">Income Taxes (a)<\/td>\n<td><\/td>\n<td colspan=\"3\">Income Taxes (b)<\/td>\n<td><\/td>\n<td colspan=\"2\">Tax Rate (b \/ a)<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>As Reported<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>153<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>34<\/td>\n<td><\/td>\n<td><\/td>\n<td>22.2<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>170<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>113<\/td>\n<td><\/td>\n<td><\/td>\n<td>66.5<\/td>\n<td>%<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Add back:<\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Acquisition\/integration costs (i)<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>5<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Equity method acquisition charges (ii)<\/td>\n<td><\/td>\n<td><\/td>\n<td>3<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>(4<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(4<\/td>\n<td>)<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Restructuring\/impairment charges (iii)<\/td>\n<td><\/td>\n<td><\/td>\n<td>8<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>1<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>22<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>5<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Impairment on disposition of assets (iv)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(20<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>340<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Other matters (v)<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>(15<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(5<\/td>\n<td>)<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Tax item &#8211; Mexico (ix)<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>(5<\/td>\n<td>)<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>(4<\/td>\n<td>)<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Other tax matters (x)<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>1<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>29<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Adjusted Non-GAAP<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>144<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>31<\/td>\n<td><\/td>\n<td><\/td>\n<td>21.5<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>518<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>134<\/td>\n<td><\/td>\n<td><\/td>\n<td>25.9<\/td>\n<td>%<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"10\">Three Months Ended September 30, 2020<\/td>\n<td><\/td>\n<td colspan=\"10\">Nine Months Ended September 30, 2020<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\">Income before<\/td>\n<td><\/td>\n<td colspan=\"3\">Provision for<\/td>\n<td><\/td>\n<td colspan=\"2\">Effective Income<\/td>\n<td><\/td>\n<td colspan=\"3\">Income before<\/td>\n<td><\/td>\n<td colspan=\"3\">Provision for<\/td>\n<td><\/td>\n<td colspan=\"2\">Effective Income<\/td>\n<\/tr>\n<tr>\n<td>(in millions)<\/td>\n<td><\/td>\n<td colspan=\"3\">Income Taxes (a)<\/td>\n<td><\/td>\n<td colspan=\"3\">Income Taxes (b)<\/td>\n<td><\/td>\n<td colspan=\"2\">Tax Rate (b \/ a)<\/td>\n<td><\/td>\n<td colspan=\"3\">Income Taxes (a)<\/td>\n<td><\/td>\n<td colspan=\"3\">Income Taxes (b)<\/td>\n<td><\/td>\n<td colspan=\"2\">Tax Rate (b \/ a)<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>As Reported<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>133<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>40<\/td>\n<td><\/td>\n<td><\/td>\n<td>30.1<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>363<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>125<\/td>\n<td><\/td>\n<td><\/td>\n<td>34.4<\/td>\n<td>%<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Add back:<\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Acquisition\/integration costs (i)<\/td>\n<td><\/td>\n<td><\/td>\n<td>5<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>1<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>8<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>2<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Restructuring\/impairment charges (iii)<\/td>\n<td><\/td>\n<td><\/td>\n<td>16<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>1<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>41<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>7<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Charge for fair value markup of acquired inventory (vi)<\/td>\n<td><\/td>\n<td><\/td>\n<td>3<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>3<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Charge for early extinguishment of debt (vii)<\/td>\n<td><\/td>\n<td><\/td>\n<td>5<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>1<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>5<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>1<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>North America storm damage (viii)<\/td>\n<td><\/td>\n<td><\/td>\n<td>2<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>2<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Tax item &#8211; Mexico (ix)<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>6<\/td>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>(16<\/td>\n<td>)<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Other tax matters (x)<\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>(6<\/td>\n<td>)<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td><\/td>\n<td>&#8211;<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>(6<\/td>\n<td>)<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Adjusted Non-GAAP<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>164<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>43<\/td>\n<td><\/td>\n<td><\/td>\n<td>26.2<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>422<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>113<\/td>\n<td><\/td>\n<td><\/td>\n<td>26.8<\/td>\n<td>%<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"23\">For notes (i) through (vii), see notes (i) through (vii) included in the Reconciliation of GAAP Net Income attributable to Ingredion and Diluted EPS to Non-GAAP Adjusted Net Income attributable to Ingredion and Adjusted Diluted EPS.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table>\n<tbody>\n<tr>\n<td colspan=\"9\"><strong>Ingredion Incorporated (&#8220;Ingredion&#8221;)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\"><strong>Reconciliation of Anticipated GAAP Diluted Earnings per Share (&#8220;GAAP EPS&#8221;)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\"><strong>to Anticipated Adjusted Diluted Earnings per Share (&#8220;Adjusted EPS&#8221;)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\"><strong>(Unaudited)<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"7\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"7\"><strong>Anticipated EPS Range<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"7\"><strong>for Full Year 2021<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><strong>Low End<\/strong><\/td>\n<td><\/td>\n<td colspan=\"3\"><strong>High End<\/strong><\/td>\n<\/tr>\n<tr>\n<td>GAAP EPS<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>1.81<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>2.16<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Add:<\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Acquisition\/integration costs (i)<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.08<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>0.08<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Equity method acquisition charges (ii)<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.01<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>0.01<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Restructuring\/impairment charges (iii)<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.25<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>0.25<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Impairment on disposition of assets (iv)<\/td>\n<td><\/td>\n<td><\/td>\n<td>5.02<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>5.02<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Other matters (v)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(0.15<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(0.15<\/td>\n<td>)<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Tax provision &#8211; Mexico (ix)<\/td>\n<td><\/td>\n<td><\/td>\n<td>0.06<\/td>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<td>0.06<\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Other tax matters (x)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(0.43<\/td>\n<td>)<\/td>\n<td><\/td>\n<td><\/td>\n<td>(0.43<\/td>\n<td>)<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<td><\/td>\n<td colspan=\"3\"><\/td>\n<\/tr>\n<tr>\n<td>Adjusted EPS<\/td>\n<td><\/td>\n<td>$<\/td>\n<td>6.65<\/td>\n<td><\/td>\n<td><\/td>\n<td>$<\/td>\n<td>7.00<\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Above is a reconciliation of our anticipated full year 2021 diluted EPS to our anticipated full year 2021 adjusted diluted EPS. The amounts above may not reflect certain future charges, costs and\/or gains that are inherently difficult to predict and estimate due to their unknown timing, effect and\/or significance. These amounts include, but are not limited to, acquisition and integration costs, impairment and restructuring costs, and certain other special items. We generally exclude these items from our adjusted EPS guidance. For these reasons, we are more confident in our ability to predict adjusted EPS than we are in our ability to predict GAAP EPS.<\/p>\n<p>For items (i) through (x), see footnotes included in the Reconciliation of GAAP Net Income attributable to Ingredion and Diluted EPS to Non-GAAP Adjusted Net Income attributable to Ingredion and Adjusted Diluted EPS.<\/p>\n<table>\n<tbody>\n<tr>\n<td colspan=\"7\"><strong>Ingredion Incorporated (&#8220;Ingredion&#8221;)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\"><strong>Reconciliation of Reported U.S. GAAP Effective Tax Rate (&#8220;GAAP ETR&#8221;)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\"><strong>to Anticipated Adjusted Effective Tax Rate (&#8220;Adjusted ETR&#8221;)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\"><strong>(Unaudited)<\/strong><\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"5\"><strong>Anticipated Effective Tax Rate Range<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"5\"><strong>for Full Year 2021<\/strong><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>Low End<\/strong><\/td>\n<td><\/td>\n<td colspan=\"2\"><strong>High End<\/strong><\/td>\n<\/tr>\n<tr>\n<td>GAAP ETR<\/td>\n<td><\/td>\n<td>46.0<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>51.0<\/td>\n<td>%<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Add:<\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Acquisition\/integration costs (i)<\/td>\n<td><\/td>\n<td>0.1<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>0.1<\/td>\n<td>%<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Equity method acquisition charges (ii)<\/td>\n<td><\/td>\n<td>(0.6<\/td>\n<td>)%<\/td>\n<td><\/td>\n<td>(0.6<\/td>\n<td>)%<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Restructuring\/impairment charges (iii)<\/td>\n<td><\/td>\n<td>0.9<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>0.9<\/td>\n<td>%<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Impairment on disposition of assets (iv)<\/td>\n<td><\/td>\n<td>0.0<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>0.0<\/td>\n<td>%<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Other matters (v)<\/td>\n<td><\/td>\n<td>(0.8<\/td>\n<td>)%<\/td>\n<td><\/td>\n<td>(0.8<\/td>\n<td>)%<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Tax item &#8211; Mexico (ix)<\/td>\n<td><\/td>\n<td>0.2<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>(1.3<\/td>\n<td>)%<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Other tax matters (x)<\/td>\n<td><\/td>\n<td>4.1<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>4.1<\/td>\n<td>%<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Impact of adjustment on Effective Tax Rate (xi)<\/td>\n<td><\/td>\n<td>(24.4<\/td>\n<td>)%<\/td>\n<td><\/td>\n<td>(26.4<\/td>\n<td>)%<\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<td><\/td>\n<td colspan=\"2\"><\/td>\n<\/tr>\n<tr>\n<td>Adjusted ETR<\/td>\n<td><\/td>\n<td>25.5<\/td>\n<td>%<\/td>\n<td><\/td>\n<td>27.0<\/td>\n<td>%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Above is a reconciliation of our anticipated full year 2021 GAAP ETR to our anticipated full year 2021 adjusted ETR. The amounts above may not reflect certain future charges, costs and\/or gains that are inherently difficult to predict and estimate due to their unknown timing, effect and\/or significance. These amounts include, but are not limited to, acquisition and integration costs, impairment and restructuring costs, and certain other special items. We generally exclude these items from our adjusted ETR guidance. For these reasons, we are more confident in our ability to predict adjusted ETR than we are in our ability to predict GAAP ETR.<\/p>\n<p>For items (i) through (x), see footnotes included in the Reconciliation of GAAP Net Income attributable to Ingredion and Diluted EPS to Non-GAAP Adjusted Net Income attributable to Ingredion and Adjusted Diluted EPS.<\/p>\n<p>(xi) Indirect impact of tax rate after items (i) through (x).<img decoding=\"async\" class=\"m___GNW8366DE3E__IMG\" src=\"https:\/\/ci3.googleusercontent.com\/proxy\/pxU7qT_9ZyF9VRP7A0VJ0Ik-Vb-_NeEY1OoxAoJCaEtMPA00amFO9XoQN9oH-_GAxGvkxJZd4eYO5wg7K6oCMfkEFOG6GFSLLewzXld87Bq8XQwIXW2TKr05GehYSsJ-=s0-d-e1-ft#https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODM4NDU1MSM0NTI2NDk4IzIwMDY4NDE=\" alt=\"\" \/><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Third quarter 2021 reported and adjusted EPS* were $1.75 and $1.67, respectively, compared to third quarter 2020 reported and adjusted EPS of $1.36 and $1.77, respectively. The Company expects full year 2021 adjusted EPS to be in the range of $6.65-$7.00, up from the previously provided full year outlook of $6.45-$6.85. WESTCHESTER, Ill., Nov. 02, [\u2026]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ingredion Incorporated Reports Third Quarter 2021 Results and Raises Full Year Adjusted Earnings Expectation - Myanmar News Gazette<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/myanmarnewsgazette.com\/ingredion-incorporated-reports-third-quarter-2021-results-and-raises-full-year-adjusted-earnings-expectation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ingredion Incorporated Reports Third Quarter 2021 Results and Raises Full Year Adjusted Earnings Expectation - Myanmar News Gazette\" \/>\n<meta property=\"og:description\" content=\"Third quarter 2021 reported and adjusted EPS* were $1.75 and $1.67, respectively, compared to third quarter 2020 reported and adjusted EPS of $1.36 and $1.77, respectively. 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