Scribd Logo
Upload

Welcome to Scribd!

  • 10 views

    Etat Fi Ingredion 2022

    Uploaded by

    Dieu Donné RANDRIAMANANA
    - Net sales increased to $7.9 billion in 2022 from $6.9 billion in 2021, while net income increased to $502 million from $125 million. - Cost of sales increased to $6.5 billion in 2022 from $5.6 billion in 2021, while gross profit increased to $1.5 billion from $1.3 billion. - The company reported basic earnings per share of $7.43 in 2022 compared to $1.74 in 2021.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Etat Fi Ingredion 2022

    Uploaded by

    Dieu Donné RANDRIAMANANA
    10 views9 pages
    - Net sales increased to $7.9 billion in 2022 from $6.9 billion in 2021, while net income increased to $502 million from $125 million. - Cost of sales increased to $6.5 billion in 2022 from $5.6 billion in 2021, while gross profit increased to $1.5 billion from $1.3 billion. - The company reported basic earnings per share of $7.43 in 2022 compared to $1.74 in 2021.

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    - Net sales increased to $7.9 billion in 2022 from $6.9 billion in 2021, while net income increased to $502 million from $125 million. - Cost of sales increased to $6.5 billion in 2022 from $5.6 billion in 2021, while gross profit increased to $1.5 billion from $1.3 billion. - The company reported basic earnings per share of $7.43 in 2022 compared to $1.74 in 2021.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    10 views9 pages

    Etat Fi Ingredion 2022

    Uploaded by

    Dieu Donné RANDRIAMANANA
    - Net sales increased to $7.9 billion in 2022 from $6.9 billion in 2021, while net income increased to $502 million from $125 million. - Cost of sales increased to $6.5 billion in 2022 from $5.6 billion in 2021, while gross profit increased to $1.5 billion from $1.3 billion. - The company reported basic earnings per share of $7.43 in 2022 compared to $1.74 in 2021.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 9

    CONSOLIDATED STATEMENTS OF INCOME

    YEAR ENDED DECEMBER 31,


    (in millions, except per share amounts) 2022 2021 2020

    Net sales $7,946 $6,894 $5,987


    Cost of sales 6,452 5,563 4,715
    Gross profit 1,494 1,331 1,272
    Operating expenses 715 668 628
    Other operating expense (income) 13 (34) (31)
    Restructuring/impairment charges and related adjustments 4 387 93
    Operating income 762 310 582
    Financing costs 99 74 81
    Other non-operating (income) (5) (12) (5)
    Income before income taxes 668 248 506
    Provision for income taxes 166 123 152
    Net income 502 125 354
    Less: Net income attributable to non-controlling interests 10 8 6
    Net income attributable to Ingredion $492 $117 $348
    Weighted average common shares outstanding:
    Basic 66.2 67.1 67.2
    Diluted 67.0 67.8 67.6
    Earnings per common share of Ingredion:
    Basic $7.43 $1.74 $5.18
    Diluted 7.34 1.73 5.15
    See the Notes to the Consolidated Financial Statements.
    CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
    (in millions)

    Net income

    Other comprehensive income:


    Gains on cash flow hedges, net of income tax effect of $53, $58 and $2,

    (Gains) losses on cash flow hedges reclassified to earnings, net of income tax effect of $69, $55 and $17,
    respectively
    Actuarial (losses) gains on pension and other postretirement obligations, settlements and plan amendments, net
    of income tax effect of $1, $9 and $1, respectively
    Currency translation adjustment

    Comprehensive income

    Less: Comprehensive income attributable to non-controlling interests

    Comprehensive income attributable to Ingredion


    See the Notes to the Consolidated Financial Statements.
    2022 2021 2020

    $502 $125 $354

    157 160 3

    (199) (154) 48

    (4) 19 (1)

    (105) 211 (25)

    351 361 379

    — 9 5

    $351 $352 $374


    CONSOLIDATED BALANCE SHEETS

    (in millions, except share and per share amounts)


    Assets
    Current assets:
    Cash and cash equivalents
    Short-term investments
    Accounts receivable, net
    Inventories
    Prepaid expenses
    Total current assets
    Property, plant and equipment, net of accumulated depreciation of $3,326 and $3,232, respectively
    Intangible assets
    Other assets
    Total assets
    Liabilities and equity
    Current liabilities:
    Short-term borrowings
    Accounts payable
    Accrued liabilities
    Total current liabilities
    Long-term debt
    Other non-current liabilities
    Total liabilities
    Share-based payments subject to redemption
    Redeemable non-controlling interests
    Ingredion stockholders’ equity:
    Preferred stock—authorized 25,000,000 shares—$0.01 par value, none issued
    Common stock—authorized 200,000,000 shares—$0.01 par value, 77,810,875 issued at December 31, 2022 and December 31, 2021
    Additional paid-in capital
    Less: Treasury stock (common stock: 12,116,920 and 11,154,203 shares at December 31, 2022 and December 31, 2021, respectively) at cost

    Accumulated other comprehensive loss


    Retained earnings
    Total Ingredion stockholders’ equity
    Non-redeemable non-controlling interests
    Total equity
    Total liabilities and equity
    See the Notes to the Consolidated Financial Statements.
    2022 2021

    $236 $328
    3 4
    1,411 1,130
    1,597 1,172
    62 63
    3,309 2,697
    2,407 2,423
    1,301 1,348
    544 531
    $7,561 $6,999

    $543 $308
    873 774
    466 430
    1,882 1,512
    1,940 1,738
    477 524
    4,299 3,774
    48 36
    51 71

    — —
    1 1
    1,132 1,158
    (1,148) (1,061)

    (1,048) (897)
    4,210 3,899
    3,147 3,100
    16 18
    3,163 3,118
    $7,561 $6,999
    CONSOLIDATED STATEMENTS
    OF EQUITY AND REDEEMABLE
    EQUITY
    (in millions) PREFERREDST COMMON STOCK ADDITIONAL TREASURY
    OCK PAID-IN CAPITAL STOCK

    Balance, December 31, 2019 $— $1 $1,137 ($1,040)


    Net income attributable to Ingredion
    Net income (loss) attributable to non-controlling interests
    Dividends declared
    Acquisition of redeemable non-controlling interests
    Share-based compensation, net of issuance 13 16
    Other comprehensive income (loss)
    Other
    Balance, December 31, 2020 — 1 1,150 (1,024)
    Net income attributable to Ingredion
    Net income (loss) attributable to non-controlling interests
    Dividends declared
    Repurchases of common stock, net (68)
    Share-based compensation, net of issuance 8 31
    Other comprehensive income (loss)
    Balance, December 31, 2021 — 1 1,158 (1,061)
    Net income attributable to Ingredion
    Net income attributable to non-controlling interests
    Dividends declared
    Repurchases of common stock, net (112)
    Share-based compensation, net of issuance 3 25
    Fair market value adjustment to non-controlling interests (29)
    Non-controlling interest purchases
    Other comprehensive (loss)
    Balance, December 31, 2022 $— $1 $1,132 ($1,148)
    See the Notes to the Consolidated Financial Statements.
    TOTAL EQUITY
    ACCUMULATED OTHER RETAINED NON-REDEEMABLE NON- SHARE-BASED REDEEMABLE
    COMPREHENSIVE LOSS EARNINGS CONTROLLING INTERESTS PAYMENTS NON-
    SUBJECT TO CONTROLLING
    REDEMPTION INTERESTS

    ($1,158) $3,780 $21 $31 $—


    348
    10 (4)
    (171) (8)
    74
    (1)
    25 (1)
    (1)
    (1,133) 3,957 21 30 70
    117
    11 (3)
    (175) (11)

    6
    236 (3) 4
    (897) 3,899 18 36 71
    492
    9 1
    (181) (5)

    12
    29
    (46)
    (151) (6) (4)
    ($1,048) $4,210 $16 $48 $51
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    YEAR ENDED DECEMBER 31,
    (in millions)

    Cash provided by operating activities


    Net income

    Non-cash charges to net income:


    Depreciation and amortization
    Mechanical stores expense
    Impairment on disposition of assets
    Deferred income taxes
    Other non-cash charges
    Changes in working capital:
    Accounts receivable and prepaid expenses
    Inventories
    Accounts payable and accrued liabilities
    Margin accounts
    Other
    Cash provided by operating activities
    Cash used for investing activities
    Capital expenditures and mechanical stores purchases

    Proceeds from disposal of manufacturing facilities and properties


    Payments for acquisitions, net of cash acquired
    Other
    Cash used for investing activities
    Cash provided by (used for) financing activities
    Proceeds from borrowings

    Payments on debt
    Debt issuance cost
    Commercial paper borrowings, net
    (Repurchases) issuances of common stock, net
    Purchases of non-controlling interests
    Dividends paid, including to non-controlling interests
    Cash provided by (used for) financing activities
    Effects of foreign exchange rate changes on cash
    (Decrease) increase in cash and cash equivalents
    Cash and cash equivalents, beginning of period
    Cash and cash equivalents, end of period
    See the Notes to the Consolidated Financial Statements.
    2022 2021 2020

    $502 $125 $354

    215 220 213


    55 55 54
    — 340 —
    (3) (61) (7)
    57 8 105

    (310) (162) (3)


    (468) (312) (14)
    158 226 124
    (44) (32) 43
    (10) (15) (40)
    152 392 829

    (300) (300) (340)

    7 18 7
    (29) (40) (236)
    2 (13) (2)
    (320) (335) (571)

    825 1,300 1,550

    (532) (1,690) (1,224)


    — — (9)
    140 250 —
    (103) (49) 4
    (46) — —
    (181) (184) (178)
    103 (373) 143
    (27) (21) —
    (92) (337) 401
    328 665 264
    $236 $328 $665

    You might also like