View Filing Data

Document and Entity Information - shares	6 Months Ended
Jun. 30, 2016	Jul. 28, 2016
Document and Entity Information
Entity Registrant Name	Ingredion Inc
Entity Central Index Key	0001046257
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		72,182,000
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q2

Condensed Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Condensed Consolidated Statements of Income
Net sales before shipping and handling costs	$ 1,533	$ 1,536	$ 2,966	$ 2,946
Less: shipping and handling costs	78	87	151	167
Net sales	1,455	1,449	2,815	2,779
Cost of sales	1,100	1,130	2,121	2,180
Gross profit	355	319	694	599
Operating expenses	144	144	282	276
Other (income) expense, net		2	1	1
Restructuring costs	13		13	10
Operating income	198	173	398	312
Financing costs-net	19	17	33	30
Income before income taxes	179	156	365	282
Provision for income taxes	59	47	111	87
Net income	120	109	254	195
Less: Net income attributable to non-controlling interests	3	2	6	5
Net income attributable to Ingredion	$ 117	$ 107	$ 248	$ 190
Weighted average common shares outstanding:
Basic (in shares)	72.2	71.6	72.1	71.6
Diluted weighted average common shares outstanding	74.0	72.7	73.8	72.8
Earnings per common share of Ingredion:
Basic (in dollars per share)	$ 1.62	$ 1.49	$ 3.44	$ 2.66
Diluted (in dollars per share)	$ 1.58	$ 1.47	$ 3.36	$ 2.62

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Condensed Consolidated Statements of Comprehensive Income
Net income	$ 120	$ 109	$ 254	$ 195
Other comprehensive income:
Gains (losses) on cash-flow hedges, net of income tax effect of $7, $6, $- and $-, respectively	13	11	2	(3)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $4, $3, $7 and $7, respectively	8	6	15	16
Actuarial gain (loss) on pension and other postretirement obligations, settlements and plan amendments, net of income tax effect of $1, $-, $1 and $2, respectively	(4)	0	(4)	7
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect	1	1	1	1
Currency translation adjustment	20	20	59	(126)
Comprehensive income (loss)	158	147	327	90
Less: Comprehensive income attributable to non-controlling interests	3	2	6	5
Comprehensive income (loss) attributable to Ingredion	$ 155	$ 145	$ 321	$ 85

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents	$ 487	$ 434
Short-term investments	20	6
Accounts receivable - net	842	775
Inventories	763	715
Prepaid expenses	26	20
Total current assets	2,138	1,950
Property, plant and equipment - net of accumulated depreciation of $2,784 and $2,642, respectively	2,037	1,989
Goodwill	605	601
Other intangible assets - net of accumulated amortization of $95 and $82, respectively	395	410
Deferred income tax assets	5	7
Other assets	133	117
Total Assets	5,313	5,074
Current liabilities
Short-term borrowings	29	19
Accounts payable and accrued liabilities	656	723
Total current liabilities	685	742
Non-current liabilities	180	170
Long-term debt	1,801	1,819
Deferred income tax liabilities	164	139
Share-based payments subject to redemption	22	24
Ingredion Stockholders' equity
Preferred stock - authorized 25,000,000 shares- $0.01 par value - none issued	0	0
Common stock — authorized 200,000,000 shares-$0.01 par value, 77,810,875 issued at June 30, 2016 and December 31, 2015, respectively	1	1
Additional paid-in capital	1,149	1,160
Less - Treasury stock (common stock: 5,674,419 and 6,194,510 shares at June 20, 2016 and December 31, 2015, respectively) at cost	(432)	(467)
Accumulated other comprehensive loss	(1,019)	(1,102)
Retained earnings	2,735	2,552
Total Ingredion stockholders' equity	2,434	2,144
Non-controlling interests	27	36
Total equity	2,461	2,180
Total liabilities and equity	$ 5,313	$ 5,074

Condensed Consolidated Statements of Equity and Redeemable Equity - USD ($) $ in Millions	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Non-controlling Interests	Share-based Payments Subject to Redemption	Total
Balance at Dec. 31, 2014	$ 1	$ 1,164	$ (481)	$ (782)	$ 2,275	$ 30	$ 22
Increase (Decrease) in Stockholders' Equity
Net income attributable to Ingredion					190			$ 190
Net income attributable to non-controlling interests						5		(5)
Dividends declared					(60)	(4)
Repurchases of common stock		(6)	(29)
Issuance of common stock on exercise of stock options		(5)	15
Share-based compensation		9	12				(4)
Other Comprehensive Income (Loss)				(105)
Balance at Jun. 30, 2015	1	1,162	(483)	(887)	2,405	31	18
Balance at Dec. 31, 2015	1	1,160	(467)	(1,102)	2,552	36	24	2,180
Increase (Decrease) in Stockholders' Equity
Net income attributable to Ingredion					248			248
Net income attributable to non-controlling interests						6		(6)
Dividends declared					(65)	(5)
Repurchases of common stock		(8)
Issuance of common stock on exercise of stock options		(9)	25
Share-based compensation		6	10				(2)
Other Comprehensive Income (Loss)				83		(10)
Balance at Jun. 30, 2016	$ 1	$ 1,149	$ (432)	$ (1,019)	$ 2,735	$ 27	$ 22	$ 2,461

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash provided by operating activities:
Net income	$ 254	$ 195
Non-cash charges to net income:
Depreciation and amortization	96	96
Charge for fair value mark-up of acquired inventory		6
Other	65	50
Changes in working capital:
Accounts receivable and prepaid expenses	(57)	(11)
Inventories	(36)	(10)
Accounts payable and accrued liabilities	(63)	(76)
Decrease (increase) in margin accounts	13	(7)
Other	(6)	5
Cash provided by operating activities	266	248
Cash used for investing activities:
Capital expenditures, net of proceeds on disposals	(125)	(128)
Payments for acquisitions, net of cash acquired of $16		(332)
Short-term investments	(14)	14
Other	(1)
Cash used for investing activities	(140)	(446)
Cash used for financing activities:
Proceeds from borrowings	173	489
Payments on debt	(196)	(104)
Issuance (repurchase) of common stock, net	8	(25)
Dividends paid (including to non-controlling interests)	(69)	(63)
Excess tax benefit on share-based compensation		4
Cash provided by financing activities	(84)	301
Effect of foreign exchange rate changes on cash	11	(26)
Increase (decrease) in cash and cash equivalents	53	77
Cash and cash equivalents, beginning of period	434	580
Cash and cash equivalents, end of period	$ 487	$ 657

Recently Adopted and New Accounting Standards

6 Months Ended

Jun. 30, 2016

New Accounting Standards

New Accounting Standards

2.Recently Adopted and New Accounting Standards

Recently Adopted Accounting Standard

In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") No. 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, a new standard that changes the accounting for certain aspects of share-based payments to employees. The new guidance requires excess tax benefits and tax deficiencies to be recorded in the income statement when the awards vest or are settled. In addition, cash flows related to excess tax benefits will no longer be separately classified as a financing activity apart from other income tax cash flows. The standard also allows us to repurchase more of an employee’s shares for tax withholding purposes without triggering liability accounting, clarifies that all cash payments made on an employee’s behalf for withheld shares should be presented as a financing activity on our cash flows statement, and provides an accounting policy election to account for forfeitures as they occur. The new standard is effective for us beginning January 1, 2017, with early adoption permitted.

We elected to early adopt the new guidance in the second quarter of fiscal year 2016. The primary impact of adoption was the recognition of excess tax benefits in our provision for income taxes rather than paid-in capital for all periods in fiscal year 2016. The change in tax withholding guidance had no impact to retained earnings as of January 1, 2016, and therefore no cumulative effect was required to be recorded. We have elected to continue to estimate forfeitures expected to occur to determine the amount of compensation cost to be recognized in each period.

We elected to apply the presentation requirements for cash flows related to excess tax benefits prospectively, which resulted in an increase in cash provided by operating activities and a decrease in cash provided by financing activities for the six months ended June 30, 2016. No changes in presentation will be made for prior years presented. The presentation requirements for cash flows related to employee taxes paid for withheld shares had no impact to any of the periods presented in our consolidated cash flows statements since such cash flows have historically been presented as a financing activity.

Adoption of the new standard resulted in the recognition of excess tax benefits in our provision for income taxes rather than paid-in-capital of $3 million and $6 million for the three and six months ended June 30, 2016, as well as an increase of 0.3 million diluted weighted average common shares outstanding for both periods. The adoption of the new standard impacted our previously reported results for the first quarter of 2016 as follows:


(in millions, except share and per share amounts)	Three Months Ended March 31, 2016
Consolidated Statement of Income:		As reported		As adjusted
Provision for income taxes	$	56	$	53
Net income	$	130	$	133
Net income attributable to Ingredion	$	127	$	130
Basic earnings per common share of Ingredion	$	1.77	$	1.81
Diluted earnings per common share of Ingredion	$	1.73	$	1.77
Diluted weighted average common shares outstanding		73.3		73.6

Consolidated Statement of Cash Flows:
Cash provided by operating activities	$	96	$	99
Cash provided by financing activities	$	9	$	6

Consolidated Balance sheet:
Additional paid-in capital	$	1,154	$	1,151
Retained earnings	$	2,647	$	2,650

New Accounting Standards

In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) that introduces a new five-step revenue recognition model in which an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This Update also requires disclosures sufficient to enable users to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. This standard is effective for fiscal years beginning after December 15, 2017, including interim periods within that reporting period. The standard will allow various transition approaches upon adoption. We are assessing the impacts of this new standard.

In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory. This Update requires an entity to measure inventory at the lower of cost and net realizable value, removing the consideration of current replacement cost. It is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016, with early adoption permitted. We do not expect that the adoption of the guidance in this Update will have a material impact on our Consolidated Financial Statements.

In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. This Update requires, among other things, that equity investments having readily determinable fair values be measured at fair value with changes recognized in net income rather than other comprehensive income. Equity investments that are accounted for under the equity method of accounting or result in consolidation of an investee are not included within the scope of this Update. The amendments in this Update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The amendments in this Update are to be applied using a cumulative-effect adjustment to the balance sheet as of the beginning of the year of adoption. We do not expect that the adoption of the guidance in this Update will have a material impact on our Consolidated Financial Statements.

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which supersedes Topic 840, Leases. This Update increases the transparency and comparability of organizations by recognizing lease assets and lease liabilities on the balance sheet for leases longer than 12 months and disclosing key information about leasing arrangements. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee have not significantly changed. This Update is effective for annual periods beginning after December 15, 2018, with early adoption permitted. Adoption will require a modified retrospective transition. We are currently assessing the impact of this Update on our Consolidated Financial Statements.

- Definition

The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6510796

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+ Details

Acquisitions

6 Months Ended

Jun. 30, 2016

Acquisitions

Acquisitions

3.Acquisitions

On August 3, 2015, the Company completed its acquisition of Kerr Concentrates, Inc. (“Kerr”), a privately held producer of natural fruit and vegetable concentrates for $102 million in cash. Kerr serves major food and beverage companies, flavor houses and ingredient producers from its manufacturing locations in Oregon and California. The acquisition of Kerr provides the Company with the opportunity to expand its product portfolio. The Company funded the acquisition with proceeds from borrowings under its revolving credit agreement. The results of Kerr are included in the Company’s consolidated results from August 3, 2015 forward within the North America business segment. The Company has finalized the purchase price allocation. The finalization of purchase accounting during the first quarter of 2016 did not have a significant impact on previously estimated amounts.

Goodwill represents the amount by which the purchase price exceeds the estimated fair value of the net assets acquired. The goodwill related to Kerr is tax deductible due to the structure of this acquisition. The goodwill of $27 million for Kerr results from synergies and other operational benefits expected to be derived from the acquisition.

The following table summarizes the final purchase price allocation for Kerr:


(in millions)
Working capital (excluding cash)	$	37
Property, plant and equipment		8
Other assets		1
Identifiable intangible assets		29
Goodwill		27
Total final purchase price	$	102

The identifiable intangible assets for the Kerr acquisition include items such as customer relationships, trade names, and noncompetition agreements. The fair values of these intangible assets were determined to be Level 3 under the fair value hierarchy. Level 3 inputs are unobservable inputs for an asset or liability. Unobservable inputs are used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for an asset or liability at the measurement date. The following table presents the fair values, valuation techniques, and estimated remaining useful life for these acquired intangible assets (dollars in millions):


				Estimated
	Fair Value		Valuation Technique	Useful Life
Customer Relationships	$	24	Multi-period excess earnings method	15 years
Trade Names	$	4	Relief-from-royalty method	11 years
Noncompetition Agreements	$	1	Income Approach	3 years

The fair value of customer relationships, trade names and noncompetition agreements were determined through the valuation techniques described above using various judgmental assumptions such as discount rates, royalty rates, and customer attrition rates, as applicable. The fair values of property, plant and equipment associated with the Kerr acquisition were determined to be Level 3 under the fair value hierarchy. Property, plant and equipment values were estimated using either the cost or market approach.

The Company incurred $1 million of pre-tax acquisition and integration costs for the six months ended June 30, 2016, associated with its recent acquisitions. In 2015, the Company incurred $4 million and $8 million of pre-tax acquisition and integration costs for the three and six months ended June 30, 2015, respectively, associated with the acquisition of Penford Corporation (“Penford”).

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

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+ Details

Segment Information

6 Months Ended

Jun. 30, 2016

Segment Information

Segment Information

5.Segment Information

The Company is principally engaged in the production and sale of starches and sweeteners for a wide range of industries, and is managed geographically on a regional basis. The Company’s operations are classified into four reportable business segments: North America, South America, Asia Pacific and Europe, Middle East and Africa (“EMEA”). Its North America segment includes businesses in the United States, Canada and Mexico. The Company’s South America segment includes businesses in Brazil, Colombia, Ecuador and the Southern Cone of South America, which includes Argentina, Chile, Peru and Uruguay. Its Asia Pacific segment includes businesses in South Korea, Thailand, Malaysia, China, Japan, Indonesia, the Philippines, Singapore, India, Australia and New Zealand. The Company’s EMEA segment includes businesses in the United Kingdom, Germany, South Africa, Pakistan and Kenya.


	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2016		2015		2016		2015
Net sales to unaffiliated customers:
North America	$	895	$	869	$	1,735	$	1,623
South America		240		250		455		508
Asia Pacific		180		192		349		379
EMEA		140		138		276		269
Total	$	1,455	$	1,449	$	2,815	$	2,779

Operating income:
North America	$	160	$	127	$	309	$	229
South America		14		20		32		45
Asia Pacific		30		28		58		54
EMEA		29		23		55		45
Corporate		(22)		(18)		(42)		(36)
Subtotal		211		180		412		337
Restructuring charges		(13)		—		(13)		(10)
Acquisition / integration costs		—		(4)		(1)		(8)
Charge for fair value markup of acquired inventory		—		(3)		—		(7)
Total	$	198	$	173	$	398	$	312


	At		At
(in millions)	Jun 30, 2016		Dec. 31, 2015
Total assets
North America	$	3,254	$	3,163
South America		793		714
Asia Pacific		760		716
EMEA		506		481
Total	$	5,313	$	5,074

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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-Publisher FASB
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+ Details

Financial Instruments, Derivatives and Hedging Activities

6 Months Ended

Jun. 30, 2016

Financial Instruments, Derivatives and Hedging Activities

Financial Instruments, Derivatives and Hedging Activities

6.Financial Instruments, Derivatives and Hedging Activities

The Company is exposed to market risk stemming from changes in commodity prices (primarily corn and natural gas), foreign currency exchange rates and interest rates. In the normal course of business, the Company actively manages its exposure to these market risks by entering into various hedging transactions, authorized under established policies that place clear controls on these activities. These transactions utilize exchange-traded derivatives or over-the-counter derivatives with investment grade counterparties. Derivative financial instruments currently used by the Company consist of commodity futures, options and swap contracts, foreign currency forward contracts, swaps and options, and interest rate swaps.

Commodity price hedging: The Company’s principal use of derivative financial instruments is to manage commodity price risk in North America relating to anticipated purchases of corn and natural gas to be used in the manufacturing process, generally over the next twelve to twenty-four months. To manage price risk related to corn purchases in North America, the Company uses corn futures and options contracts that trade on regulated commodity exchanges to lock-in its corn costs associated with firm-priced customer sales contracts. The Company uses over-the-counter natural gas swaps to hedge a portion of its natural gas usage in North America. These derivative financial instruments limit the impact that volatility resulting from fluctuations in market prices will have on corn and natural gas purchases and have been designated as cash-flow hedges. The Company also enters into futures contracts to hedge price risk associated with fluctuations in the market price of ethanol. Unrealized gains and losses associated with marking the commodity hedging contracts to market (fair value) are recorded as a component of other comprehensive income (“OCI”) and included in the equity section of the Condensed Consolidated Balance Sheets as part of accumulated other comprehensive income/loss (“AOCI”). These amounts are subsequently reclassified into earnings in the same line item affected by the hedged transaction and in the same period or periods during which the hedged transaction affects earnings, or in the month a hedge is determined to be ineffective. The Company assesses the effectiveness of a commodity hedge contract based on changes in the contract’s fair value. The changes in the market value of such contracts have historically been, and are expected to continue to be, highly effective at offsetting changes in the price of the hedged items. The amounts representing the ineffectiveness of these cash-flow hedges are not significant.

At June 30, 2016, AOCI included $6 million of losses, net of tax of $4 million, pertaining to commodities-related derivative instruments designated as cash-flow hedges. At December 31, 2015, AOCI included $21 million of losses, net of tax of $10 million, pertaining to commodities-related derivative instruments designated as cash-flow hedges.

Interest rate hedging: Derivative financial instruments that have been used by the Company to manage its interest rate risk consist of interest rate swaps and Treasury Lock agreements (“T-Locks”). The Company has interest rate swap agreements that effectively convert the interest rates on its 6.0 percent $200 million senior notes due April 15, 2017, its 1.8 percent $300 million senior notes due September 25, 2017 and on $200 million of its $400 million 4.625 percent senior notes due November 1, 2020, to variable rates. These swap agreements call for the Company to receive interest at the fixed coupon rate of the respective notes and to pay interest at a variable rate based on the six-month US dollar LIBOR rate plus a spread. The Company has designated these interest rate swap agreements as hedges of the changes in fair value of the underlying debt obligations attributable to changes in interest rates and accounts for them as fair-value hedges. Changes in the fair value of interest rate swaps designated as hedging instruments that effectively offset the variability in the fair value of outstanding debt obligations are reported in earnings. These amounts offset the gain or loss (that is, the change in fair value) of the hedged debt instrument that is attributable to changes in interest rates (that is, the hedged risk), which is also recognized in earnings. The fair value of these interest rate swap agreements at June 30, 2016 and December 31, 2015 was $16 million and $7 million, respectively, and is reflected in the Condensed Consolidated Balance Sheets within Other assets, with an offsetting amount recorded in Long-term debt to adjust the carrying amount of the hedged debt obligations. The Company did not have any T-locks outstanding at June 30, 2016 or December 31, 2015.

At June 30, 2016, AOCI included $4 million of losses (net of income taxes of $2 million), related to settled T-Locks. At December 31, 2015, AOCI included $5 million of losses (net of income taxes of $2 million), related to settled T-Locks. These deferred losses are being amortized to financing costs over the terms of the senior notes with which they are associated.

Foreign currency hedging: Due to the Company’s global operations, including operations in many emerging markets, it is exposed to fluctuations in foreign currency exchange rates. As a result, the Company has exposure to translational foreign exchange risk when the results of its foreign operations are translated to US dollars and to transactional foreign exchange risk when transactions not denominated in the functional currency are revalued. The Company primarily uses derivative financial instruments such as foreign currency forward contracts, swaps and options to manage its transactional foreign exchange risk. At June 30, 2016, the Company had foreign currency forward sales contracts with an aggregate notional amount of $379 million and foreign currency forward purchase contracts with an aggregate notional amount of $56 million that hedged transactional exposures. At December 31, 2015, the Company had foreign currency forward sales contracts with an aggregate notional amount of $606 million and foreign currency forward purchase contracts with an aggregate notional amount of $287 million that hedged transactional exposures.

The Company also has foreign currency derivative instruments that hedge certain foreign currency transactional exposures and are designated as cash-flow hedges. The amount included in AOCI relating to these hedges at both June 30, 2016 and December 31, 2015 was not significant.

The fair value and balance sheet location of the Company’s derivative instruments, presented gross in the Condensed Consolidated Balance Sheets, are reflected below:


	Fair Value of Derivative Instruments
		Fair Value					Fair Value
Derivatives designated as		At		At			At		At
hedging instruments:	Balance Sheet	June 30,		December 31,		Balance Sheet	June 30,		December 31,
(in millions)	Location	2016		2015		Location	2016		2015

Commodity and foreign currency contracts	Accounts receivable-net	$	9	$	18	Accounts payable and accrued liabilities	$	44	$	38

Commodity, foreign currency, and interest rate contracts	Other assets		23		14	Non-current liabilities		6		4

Total		$	32	$	32		$	50	$	42

At June 30, 2016, the Company had outstanding futures and option contracts that hedged the forecasted purchase of approximately 83 million bushels of corn and 48 million pounds of soybean oil. The Company is unable to directly hedge price risk related to co-product sales; however, it occasionally enters into hedges of soybean oil (a competing product to corn oil) in order to mitigate the price risk of corn oil sales. The Company also had outstanding swap and option contracts that hedged the forecasted purchase of approximately 12 million mmbtu’s of natural gas at June 30, 2016. Additionally at June 30, 2016, the Company had outstanding ethanol futures contracts that hedged the forecasted sale of approximately 11 million gallons of ethanol.

Additional information relating to the Company’s derivative instruments is presented below (in millions, pre-tax):


					Location of Gains
Derivatives in	Amount of Gains (Losses)				(Losses)	Amount of Gains (Losses)
Cash-Flow	Recognized in OCI				Reclassified from	Reclassified from AOCI into Income
Hedging	Three Months Ended		Three Months Ended		AOCI	Three Months Ended		Three Months Ended
Relationships	June 30, 2016		June 30, 2015		into Income	June 30, 2016		June 30, 2015
Commodity and foreign currency contracts	$	20	$	17	Gross profit	$	(11)	$	(8)

Interest rate contracts		—		—	Financing costs, net		(1)		(1)
Total	$	20	$	17		$	(12)	$	(9)


					Location of Gains
Derivatives in	Amount of Gains (Losses)				(Losses)	Amount of Gains (Losses)
Cash-Flow	Recognized in OCI				Reclassified from	Reclassified from AOCI into Income
Hedging	Six Months Ended		Six Months Ended		AOCI	Six Months Ended		Six Months Ended
Relationships	June 30, 2016		June 30, 2015		into Income	June 30, 2016		June 30, 2015
Commodity and foreign currency contracts	$	2	$	(3)	Gross profit	$	(21)	$	(21)

Interest rate contracts		—		—	Financing costs, net		(1)		(2)
Total	$	2	$	(3)		$	(22)	$	(23)

At June 30, 2016, AOCI included $6 million of losses (net of income taxes of $4 million) on commodities-related derivative instruments designated as cash-flow hedges that are expected to be reclassified into earnings during the next twelve months. The Company expects the losses to be offset by changes in the underlying commodities costs. The Company also has $1 million of losses on settled T-Locks (net of income taxes of $1 million) recorded in AOCI at June 30, 2016, which are expected to be reclassified into earnings during the next twelve months. Additionally, at June 30, 2016, AOCI included an insignificant amount of losses related to foreign currency hedges that are expected to be reclassified into earnings during the next twelve months.

Presented below are the fair values of the Company’s financial instruments and derivatives for the periods presented:


	As of June 30, 2016								As of December 31, 2015
(in millions)	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Available for sale securities	$	6	$	6	$	—	$	—	$	6	$	6	$	—	$	—
Derivative assets		32		1		31		—		32		2		30		—
Derivative liabilities		50		19		31		—		42		21		21		—
Long-term debt		1,925		—		1,925		—		1,912		—		1,912		—

Level 1 inputs consist of quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 2 inputs are based on quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability or can be derived principally from or corroborated by observable market data. Level 3 inputs are unobservable inputs for the asset or liability. Unobservable inputs shall be used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date.

The carrying values of cash equivalents, short-term investments, accounts receivable, accounts payable and short-term borrowings approximate fair values. Commodity futures, options and swap contracts are recognized at fair value. Foreign currency forward contracts, swaps and options are also recognized at fair value. The fair value of the Company’s long-term debt is estimated based on quotations of major securities dealers who are market makers in the securities. At June 30, 2016, the carrying value and fair value of the Company’s long-term debt were $1.80 billion and $1.93 billion, respectively.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

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+ Details

Share-Based Compensation

6 Months Ended

Jun. 30, 2016

Share-Based Compensation

Share-Based Compensation

7.Share-Based Compensation

Stock Options:

Under the Company’s stock incentive plan, stock options are granted at exercise prices that equal the market value of the underlying common stock on the date of grant. The options have a 10-year term and are exercisable upon vesting, which occurs over a three-year period at the anniversary dates of the date of grant. Compensation expense is recognized on a straight-line basis for all awards.

The Company granted non-qualified options to purchase 329 thousand shares and 336 thousand shares of the Company’s common stock during the six months ended June 30, 2016 and 2015, respectively. The fair value of each option grant was estimated using the Black-Scholes option-pricing model with the following assumptions:


	For the Six Months Ended
	June 30,
	2016		2015
Expected life (in years)	5.5		5.5
Risk-free interest rate	1.36	%	1.36	%
Expected volatility	23.40	%	25.19	%
Expected dividend yield	1.80	%	2.04	%

The expected life of options represents the weighted-average period of time that options granted are expected to be outstanding giving consideration to vesting schedules and the Company’s historical exercise patterns. The risk-free interest rate is based on the US Treasury yield curve in effect at the grant date for the period corresponding to the expected life of the options. Expected volatility is based on historical volatilities of the Company’s common stock. Dividend yields are based on current dividend payments.

Stock option activity for the six months ended June 30, 2016 was as follows:


		Weighted
		Average		Average	Aggregate
		Exercise		Remaining	Intrinsic
(dollars and options in thousands,	Number of	Price per		Contractual	Value
except per share amounts)	Options	Share		Term (Years)	(in millions)
Outstanding at December 31, 2015	2,651	$	52.93
Granted	329		99.96
Exercised	(374)		43.04
Cancelled	(35)		50.81
Outstanding at June 30, 2016	2,571	$	60.42	6.28	$	177
Exercisable at June 30, 2016	1,811	$	50.68	5.27		143

For the six months ended June 30, 2016, cash received from the exercise of stock options was $16 million. At June 30, 2016, the total remaining unrecognized compensation cost related to stock options approximated $9 million, which will be amortized over a weighted-average period of approximately 1.4 years.

Additional information pertaining to stock option activity is as follows:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
(dollars in thousands, except per share)	2016		2015		2016		2015
Weighted average grant date fair value of stock options granted (per share)	$	—	$	—	$	18.73	$	16.04
Total intrinsic value of stock options exercised	$	11,469	$	7,464	$	24,134	$	11,204

Restricted Stock Units:

The Company has granted shares of restricted stock units (“RSUs”) to certain key employees. The RSUs are subject to cliff vesting, generally after three years provided the employee remains in the service of the Company. The fair value of the RSUs is determined based upon the number of shares granted and the quoted market price of the Company’s common stock at the date of the grant.

The following table summarizes RSU activity for the six months ended June 30, 2016:


		Weighted
		Average
	Number of	Fair Value
(shares in thousands)	RSUs	per Share
Non-vested at December 31, 2015	439	$	69.96
Granted	145		99.99
Vested	(124)		65.63
Cancelled	(12)		77.33
Non-vested at June 30, 2016	448	$	80.69

At June 30, 2016, the total remaining unrecognized compensation cost related to RSUs was $21 million, which will be amortized over a weighted-average period of approximately 1.9 years.

Performance Shares:

The Company has a long-term incentive plan for senior management in the form of performance shares. The ultimate payments for performance shares awarded and eventually paid will be based solely on the Company’s stock performance as compared to the stock performance of a peer group. The final payments will be calculated at the end of the three year period and are subject to approval by management and the Compensation Committee. Compensation expense is based on the fair value of the performance shares at the grant date, established using a Monte Carlo simulation model. The total compensation expense for these awards is amortized over a three-year graded vesting schedule.

The Company awarded 47 thousand, 58 thousand, and 45 thousand share units in 2015, 2014 and 2013, respectively. The number of shares that ultimately vest can range from zero to 200 percent of the awarded grant depending on the Company’s stock performance as compared to the stock performance of the peer group. The weighted average fair value of the shares granted during 2015, 2014 and 2013 was $77.54, $52.03 and $67.19, respectively. In the first half of 2016, the Company awarded 44 thousand share units at a weighted average fair value of $131.34.

The 2013 performance share award vested in the first half of 2016, achieving a 200 percent pay out of the grant, or 90 thousand total vested shares. There were no share cancellations during the first half of 2016.

At June 30, 2016, the unrecognized compensation cost related to these awards was $5 million, which will be amortized over the remaining requisite service periods of 2.1 years.

The following table summarizes the components of the Company’s share-based compensation expense:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2016		2015		2016		2015
Stock options:
Pre-tax compensation expense	$	2.2	$	1.6	$	4.3	$	3.4
Income tax (benefit)		(0.8)		(0.6)		(1.6)		(1.3)
Stock option expense, net of income taxes		1.4		1.0		2.7		2.1

RSUs:
Pre-tax compensation expense		3.2		2.3		6.1		4.3
Income tax (benefit)		(1.2)		(0.9)		(2.2)		(1.6)
RSUs, net of income taxes		2.0		1.4		3.9		2.7

Performance shares and other share-based awards:
Pre-tax compensation expense		1.7		1.3		3.4		2.6
Income tax (benefit)		(0.6)		(0.4)		(1.3)		(0.9)
Performance shares and other share-based compensation expense, net of income taxes		1.1		0.9		2.1		1.7

Total share-based compensation:
Pre-tax compensation expense		7.1		5.2		13.8		10.3
Income tax (benefit)		(2.6)		(1.9)		(5.1)		(3.8)
Total share-based compensation expense, net of income taxes	$	4.5	$	3.3	$	8.7	$	6.5

Net Periodic Pension and Postretirement Benefit Costs

6 Months Ended

Jun. 30, 2016

Net Periodic Pension and Postretirement Benefit Costs

Net Periodic Pension and Postretirement Benefit Costs

8.Net Periodic Pension and Postretirement Benefit Costs

For detailed information about the Company’s pension and postretirement benefit plans, please refer to Note 10 of the Notes to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.

The following table sets forth the components of net periodic benefit cost of the US and non-US defined benefit pension plans for the periods presented:


	Three Months Ended								Six Months Ended
	June 30,								June 30,
	US Plans				Non-US Plans				US Plans				Non-US Plans
(in millions)	2016		2015		2016		2015		2016		2015		2016		2015
Service cost	$	1.6	$	2.0	$	0.8	$	1.1	$	3.1	$	3.8	$	1.6	$	2.3
Interest cost		3.4		3.7		2.7		3.0		6.8		6.9		5.3		6.0
Expected return on plan assets		(5.0)		(6.3)		(2.7)		(3.4)		(10.0)		(11.9)		(5.4)		(6.8)
Amortization of initial net obligation		—		—		0.1		—		—		—		0.2		—
Amortization of actuarial loss		0.2		0.2		0.4		0.5		0.4		0.4		0.8		1.1
Amortization of transition obligation		—		—		—		0.1		—		—		—		0.1
Amortization of prior service credit		(0.1)		—		—		—		(0.1)		—		—		(0.1)
Settlement loss		—		—		1.1		—		—		—		1.5		—
Net periodic benefit cost	$	0.1	$	(0.4)	$	2.4	$	1.3	$	0.2	$	(0.8)	$	4.0	$	2.6

The Company currently anticipates that it will make approximately $5 million in cash contributions to its pension plans in 2016, consisting of $4 million to its non-US pension plans and $1 million to its US pension plans. For the six months ended June 30, 2016, cash contributions of approximately $2 million were made to the non-US plans and less than $1 million to the US plans.

In April 2016, the Company performed a pension remeasurement for one of its pension plans in Canada as a result of lump sum settlement payments made related to the Port Colborne plant sale. This plan settlement resulted in a reduction in the funded status of the Plan by $5 million. The Company recorded a pension charge of $1 million as a result of the settlement.

During the first quarter of 2015, the Company amended one of its pension plans in Canada to eliminate future benefit accruals for the plan effective April 30, 2015. This plan curtailment resulted in an improvement in the funded status of the plan by approximately $9 million. The impact of this plan curtailment on net periodic benefit cost for the first half of 2015 was not significant.

The following table sets forth the components of net postretirement benefit cost for the periods presented:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2016		2015		2016		2015
Service cost	$	0.2	$	0.2	$	0.4	$	0.4
Interest cost		0.7		0.8		1.4		1.5
Amortization of actuarial loss		—		0.1		—		0.3
Amortization of prior service credit		(0.8)		(0.5)		(1.6)		(1.1)
Net periodic benefit cost	$	0.1	$	0.6	$	0.2	$	1.1

Earnings per Common Share

6 Months Ended

Jun. 30, 2016

Earnings per Common Share

Earnings per Common Share

9.Earnings per Common Share

The following table provides the computation of basic and diluted earnings per common share ("EPS") for the periods presented.


	Three Months Ended June 30, 2016					Three Months Ended June 30, 2015
	Net Income					Net Income
	Available		Weighted			Available		Weighted
	to Ingredion		Average Shares	Per Share		to Ingredion		Average Shares	Per Share
(in millions, except per share amounts)	(Numerator)		(Denominator)	Amount		(Numerator)		(Denominator)	Amount

Basic EPS	$	117.2	72.2	$	1.62	$	106.7	71.6	$	1.49

Effect of Dilutive Securities:

Incremental shares from assumed exercise of dilutive stock options and vesting of dilutive
RSUs and other awards			1.8					1.1

Diluted EPS	$	117.2	74.0	$	1.58	$	106.7	72.7	$	1.47


	Six Months Ended June 30, 2016					Six Months Ended June 30, 2015
	Net Income					Net Income
	Available		Weighted			Available		Weighted
	to Ingredion		Average Shares	Per Share		to Ingredion		Average Shares	Per Share
(in millions, except per share amounts)	(Numerator)		(Denominator)	Amount		(Numerator)		(Denominator)	Amount

Basic EPS	$	247.7	72.1	$	3.44	$	190.3	71.6	$	2.66

Effect of Dilutive Securities:

Incremental shares from assumed exercise of dilutive stock options and vesting of dilutive RSUs and other awards			1.7					1.2

Diluted EPS	$	247.7	73.8	$	3.36	$	190.3	72.8	$	2.62

For the second quarter and first half of 2016, approximately 0.1 million and 0.3 million share based awards of common stock were excluded from the calculation of diluted EPS as the impact of their inclusion would have been anti-dilutive. For both the second quarter and first half of 2015, approximately 0.3 million share based awards of common stock were excluded from the calculation of diluted EPS as the impact of their inclusion would have been anti-dilutive.

Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2016

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

12.Accumulated Other Comprehensive Loss

A summary of accumulated other comprehensive loss for the six months ended June 30, 2016 and 2015 is provided below:



			Deferred				Unrealized		Accumulated
	Cumulative		Gain/(Loss)		Pension/		Loss		Other
	Translation		on Hedging		Postretirement		on		Comprehensive
(in millions)	Adjustment		Activities		Adjustment		Investment		Loss
Balance, December 31, 2015	$	(1,025)	$	(29)	$	(47)	$	(1)	$	(1,102)
Gains on cash-flow hedges, net of income tax effect				2						2
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $7				15						15
Actuarial losses on pension and other postretirement obligations, settlements and plan amendments, net of income tax effect of $1						(4)				(4)
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect						1				1
Currency translation adjustment		69								69
Balance, June 30, 2016	$	(956)	$	(12)	$	(50)	$	(1)	$	(1,019)



			Deferred				Unrealized		Accumulated
	Cumulative		Gain/(Loss)		Pension/		Loss		Other
	Translation		on Hedging		Postretirement		on		Comprehensive
(in millions)	Adjustment		Activities		Adjustment		Investment		Loss
Balance, December 31, 2014	$	(701)	$	(19)	$	(61)	$	(1)	$	(782)
Losses on cash-flow hedges, net of income tax effect				(3)						(3)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $7				16						16
Actuarial gains on pension and postretirement obligations, settlements and plan amendments, net of income tax effect of $2						7				7
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect						1				1
Currency translation adjustment		(126)								(126)
Balance, June 30, 2015	$	(827)	$	(6)	$	(53)	$	(1)	$	(887)

The following table provides detail pertaining to reclassifications from AOCI into net income for the periods presented:



	Amount				Amount
	Reclassified from				Reclassified from
	AOCI				AOCI
	Three Months Ended				Six Months Ended				Affected Line Item in
Details about AOCI Components	June 30,				June 30,				Condensed Consolidated
(in millions)	2016		2015		2016		2015		Statements of Income
Losses on cash-flow hedges:
Commodity and foreign currency contracts	$	(11)	$	(8)	$	(21)	$	(21)	Gross profit
Interest rate contracts		(1)		(1)		(1)		(2)	Financing costs, net
Losses related to pension and other postretirement obligations		(1)		(1)		(1)		(1)	(a)
Total before-tax reclassifications	$	(13)	$	(10)	$	(23)	$	(24)
Income tax benefit		4		3		7		7
Total after-tax reclassifications	$	(9)	$	(7)	$	(16)	$	(17)

(a)

This component is included in the computation of net periodic benefit cost and affects both cost of sales and operating expenses on the Condensed Consolidated Statements of Income.

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e689-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=36458714&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e640-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e716-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e709-108580

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e637-108580

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e681-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

+ Details

Segment Information (Tables)

6 Months Ended

Jun. 30, 2016

Segment Information

Schedule of segment reporting of net sales, operating income and total assets


	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2016		2015		2016		2015
Net sales to unaffiliated customers:
North America	$	895	$	869	$	1,735	$	1,623
South America		240		250		455		508
Asia Pacific		180		192		349		379
EMEA		140		138		276		269
Total	$	1,455	$	1,449	$	2,815	$	2,779

Operating income:
North America	$	160	$	127	$	309	$	229
South America		14		20		32		45
Asia Pacific		30		28		58		54
EMEA		29		23		55		45
Corporate		(22)		(18)		(42)		(36)
Subtotal		211		180		412		337
Restructuring charges		(13)		—		(13)		(10)
Acquisition / integration costs		—		(4)		(1)		(8)
Charge for fair value markup of acquired inventory		—		(3)		—		(7)
Total	$	198	$	173	$	398	$	312


	At		At
(in millions)	Jun 30, 2016		Dec. 31, 2015
Total assets
North America	$	3,254	$	3,163
South America		793		714
Asia Pacific		760		716
EMEA		506		481
Total	$	5,313	$	5,074

Financial Instruments, Derivatives and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2016

Financial Instruments, Derivatives and Hedging Activities

Schedule of location and amount of assets and liabilities reported in balance sheet


	Fair Value of Derivative Instruments
		Fair Value					Fair Value
Derivatives designated as		At		At			At		At
hedging instruments:	Balance Sheet	June 30,		December 31,		Balance Sheet	June 30,		December 31,
(in millions)	Location	2016		2015		Location	2016		2015

Commodity and foreign currency contracts	Accounts receivable-net	$	9	$	18	Accounts payable and accrued liabilities	$	44	$	38

Commodity, foreign currency, and interest rate contracts	Other assets		23		14	Non-current liabilities		6		4

Total		$	32	$	32		$	50	$	42

Schedule of amount of gains and losses recognized in OCI and location and amount of gains and losses reported in income statement

Additional information relating to the Company’s derivative instruments is presented below (in millions, pre-tax):


					Location of Gains
Derivatives in	Amount of Gains (Losses)				(Losses)	Amount of Gains (Losses)
Cash-Flow	Recognized in OCI				Reclassified from	Reclassified from AOCI into Income
Hedging	Three Months Ended		Three Months Ended		AOCI	Three Months Ended		Three Months Ended
Relationships	June 30, 2016		June 30, 2015		into Income	June 30, 2016		June 30, 2015
Commodity and foreign currency contracts	$	20	$	17	Gross profit	$	(11)	$	(8)

Interest rate contracts		—		—	Financing costs, net		(1)		(1)
Total	$	20	$	17		$	(12)	$	(9)


					Location of Gains
Derivatives in	Amount of Gains (Losses)				(Losses)	Amount of Gains (Losses)
Cash-Flow	Recognized in OCI				Reclassified from	Reclassified from AOCI into Income
Hedging	Six Months Ended		Six Months Ended		AOCI	Six Months Ended		Six Months Ended
Relationships	June 30, 2016		June 30, 2015		into Income	June 30, 2016		June 30, 2015
Commodity and foreign currency contracts	$	2	$	(3)	Gross profit	$	(21)	$	(21)

Interest rate contracts		—		—	Financing costs, net		(1)		(2)
Total	$	2	$	(3)		$	(22)	$	(23)

Schedule of fair value of financial instruments and derivatives


	As of June 30, 2016								As of December 31, 2015
(in millions)	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Available for sale securities	$	6	$	6	$	—	$	—	$	6	$	6	$	—	$	—
Derivative assets		32		1		31		—		32		2		30		—
Derivative liabilities		50		19		31		—		42		21		21		—
Long-term debt		1,925		—		1,925		—		1,912		—		1,912		—

Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2016

Share-Based Compensation

Schedule of valuation assumptions for stock options


	For the Six Months Ended
	June 30,
	2016		2015
Expected life (in years)	5.5		5.5
Risk-free interest rate	1.36	%	1.36	%
Expected volatility	23.40	%	25.19	%
Expected dividend yield	1.80	%	2.04	%

Schedule of stock option activity


		Weighted
		Average		Average	Aggregate
		Exercise		Remaining	Intrinsic
(dollars and options in thousands,	Number of	Price per		Contractual	Value
except per share amounts)	Options	Share		Term (Years)	(in millions)
Outstanding at December 31, 2015	2,651	$	52.93
Granted	329		99.96
Exercised	(374)		43.04
Cancelled	(35)		50.81
Outstanding at June 30, 2016	2,571	$	60.42	6.28	$	177
Exercisable at June 30, 2016	1,811	$	50.68	5.27		143

Schedule of additional information pertaining to stock option activity


	Three Months Ended				Six Months Ended
	June 30,				June 30,
(dollars in thousands, except per share)	2016		2015		2016		2015
Weighted average grant date fair value of stock options granted (per share)	$	—	$	—	$	18.73	$	16.04
Total intrinsic value of stock options exercised	$	11,469	$	7,464	$	24,134	$	11,204

Schedule of restricted unit activity


		Weighted
		Average
	Number of	Fair Value
(shares in thousands)	RSUs	per Share
Non-vested at December 31, 2015	439	$	69.96
Granted	145		99.99
Vested	(124)		65.63
Cancelled	(12)		77.33
Non-vested at June 30, 2016	448	$	80.69

Schedule of components of share based compensation expense


	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2016		2015		2016		2015
Stock options:
Pre-tax compensation expense	$	2.2	$	1.6	$	4.3	$	3.4
Income tax (benefit)		(0.8)		(0.6)		(1.6)		(1.3)
Stock option expense, net of income taxes		1.4		1.0		2.7		2.1

RSUs:
Pre-tax compensation expense		3.2		2.3		6.1		4.3
Income tax (benefit)		(1.2)		(0.9)		(2.2)		(1.6)
RSUs, net of income taxes		2.0		1.4		3.9		2.7

Performance shares and other share-based awards:
Pre-tax compensation expense		1.7		1.3		3.4		2.6
Income tax (benefit)		(0.6)		(0.4)		(1.3)		(0.9)
Performance shares and other share-based compensation expense, net of income taxes		1.1		0.9		2.1		1.7

Total share-based compensation:
Pre-tax compensation expense		7.1		5.2		13.8		10.3
Income tax (benefit)		(2.6)		(1.9)		(5.1)		(3.8)
Total share-based compensation expense, net of income taxes	$	4.5	$	3.3	$	8.7	$	6.5

Net Periodic Pension and Postretirement Benefit Costs (Tables)

6 Months Ended

Jun. 30, 2016

Defined benefit pension plans

Pension and postretirement benefit plans

Components of net periodic benefit cost


	Three Months Ended								Six Months Ended
	June 30,								June 30,
	US Plans				Non-US Plans				US Plans				Non-US Plans
(in millions)	2016		2015		2016		2015		2016		2015		2016		2015
Service cost	$	1.6	$	2.0	$	0.8	$	1.1	$	3.1	$	3.8	$	1.6	$	2.3
Interest cost		3.4		3.7		2.7		3.0		6.8		6.9		5.3		6.0
Expected return on plan assets		(5.0)		(6.3)		(2.7)		(3.4)		(10.0)		(11.9)		(5.4)		(6.8)
Amortization of initial net obligation		—		—		0.1		—		—		—		0.2		—
Amortization of actuarial loss		0.2		0.2		0.4		0.5		0.4		0.4		0.8		1.1
Amortization of transition obligation		—		—		—		0.1		—		—		—		0.1
Amortization of prior service credit		(0.1)		—		—		—		(0.1)		—		—		(0.1)
Settlement loss		—		—		1.1		—		—		—		1.5		—
Net periodic benefit cost	$	0.1	$	(0.4)	$	2.4	$	1.3	$	0.2	$	(0.8)	$	4.0	$	2.6

Net postretirement benefit cost

Pension and postretirement benefit plans

Components of net periodic benefit cost


	Three Months Ended				Six Months Ended
	June 30,				June 30,
(in millions)	2016		2015		2016		2015
Service cost	$	0.2	$	0.2	$	0.4	$	0.4
Interest cost		0.7		0.8		1.4		1.5
Amortization of actuarial loss		—		0.1		—		0.3
Amortization of prior service credit		(0.8)		(0.5)		(1.6)		(1.1)
Net periodic benefit cost	$	0.1	$	0.6	$	0.2	$	1.1

Earnings per Common Share (Tables)

6 Months Ended

Jun. 30, 2016

Earnings per Common Share

Schedule of basic and diluted net income per share


	Three Months Ended June 30, 2016					Three Months Ended June 30, 2015
	Net Income					Net Income
	Available		Weighted			Available		Weighted
	to Ingredion		Average Shares	Per Share		to Ingredion		Average Shares	Per Share
(in millions, except per share amounts)	(Numerator)		(Denominator)	Amount		(Numerator)		(Denominator)	Amount

Basic EPS	$	117.2	72.2	$	1.62	$	106.7	71.6	$	1.49

Effect of Dilutive Securities:

Incremental shares from assumed exercise of dilutive stock options and vesting of dilutive
RSUs and other awards			1.8					1.1

Diluted EPS	$	117.2	74.0	$	1.58	$	106.7	72.7	$	1.47


	Six Months Ended June 30, 2016					Six Months Ended June 30, 2015
	Net Income					Net Income
	Available		Weighted			Available		Weighted
	to Ingredion		Average Shares	Per Share		to Ingredion		Average Shares	Per Share
(in millions, except per share amounts)	(Numerator)		(Denominator)	Amount		(Numerator)		(Denominator)	Amount

Basic EPS	$	247.7	72.1	$	3.44	$	190.3	71.6	$	2.66

Effect of Dilutive Securities:

Incremental shares from assumed exercise of dilutive stock options and vesting of dilutive RSUs and other awards			1.7					1.2

Diluted EPS	$	247.7	73.8	$	3.36	$	190.3	72.8	$	2.62

Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2016

Accumulated Other Comprehensive Loss

Summary of accumulated other comprehensive loss



			Deferred				Unrealized		Accumulated
	Cumulative		Gain/(Loss)		Pension/		Loss		Other
	Translation		on Hedging		Postretirement		on		Comprehensive
(in millions)	Adjustment		Activities		Adjustment		Investment		Loss
Balance, December 31, 2015	$	(1,025)	$	(29)	$	(47)	$	(1)	$	(1,102)
Gains on cash-flow hedges, net of income tax effect				2						2
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $7				15						15
Actuarial losses on pension and other postretirement obligations, settlements and plan amendments, net of income tax effect of $1						(4)				(4)
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect						1				1
Currency translation adjustment		69								69
Balance, June 30, 2016	$	(956)	$	(12)	$	(50)	$	(1)	$	(1,019)



			Deferred				Unrealized		Accumulated
	Cumulative		Gain/(Loss)		Pension/		Loss		Other
	Translation		on Hedging		Postretirement		on		Comprehensive
(in millions)	Adjustment		Activities		Adjustment		Investment		Loss
Balance, December 31, 2014	$	(701)	$	(19)	$	(61)	$	(1)	$	(782)
Losses on cash-flow hedges, net of income tax effect				(3)						(3)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $7				16						16
Actuarial gains on pension and postretirement obligations, settlements and plan amendments, net of income tax effect of $2						7				7
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect						1				1
Currency translation adjustment		(126)								(126)
Balance, June 30, 2015	$	(827)	$	(6)	$	(53)	$	(1)	$	(887)

Schedule of reclassifications from AOCI into net income



	Amount				Amount
	Reclassified from				Reclassified from
	AOCI				AOCI
	Three Months Ended				Six Months Ended				Affected Line Item in
Details about AOCI Components	June 30,				June 30,				Condensed Consolidated
(in millions)	2016		2015		2016		2015		Statements of Income
Losses on cash-flow hedges:
Commodity and foreign currency contracts	$	(11)	$	(8)	$	(21)	$	(21)	Gross profit
Interest rate contracts		(1)		(1)		(1)		(2)	Financing costs, net
Losses related to pension and other postretirement obligations		(1)		(1)		(1)		(1)	(a)
Total before-tax reclassifications	$	(13)	$	(10)	$	(23)	$	(24)
Income tax benefit		4		3		7		7
Total after-tax reclassifications	$	(9)	$	(7)	$	(16)	$	(17)

Recently Adopted and New Accounting Standards (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Consolidated Statements of Income
Provision for income taxes	$ 59		$ 47	$ 111	$ 87
Net income	120		109	254	195
Net income attributable to Ingredion	$ 117		$ 107	$ 248	$ 190
Basic earnings per common share of Ingredion (in dollars per share)	$ 1.62		$ 1.49	$ 3.44	$ 2.66
Diluted earnings per common share of Ingredion (in dollars per share)	$ 1.58		$ 1.47	$ 3.36	$ 2.62
Diluted weighted average common shares outstanding	74.0		72.7	73.8	72.8
Consolidated Statements of Cash Flows
Cash provided by operating activities				$ 266	$ 248
Cash provided by financing activities				(84)	$ 301
Consolidated Balance Sheets
Retained earnings	$ 2,735			2,735		$ 2,552
Accounting Standards Update 2016-09
Consolidated Statements of Income
Provision for income taxes	$ (3)			$ (6)
Increase in diluted weighted average common shares outstanding	0.3			0.3
Scenario, Previously Reported
Consolidated Statements of Income
Provision for income taxes		$ 56
Net income		130
Net income attributable to Ingredion		$ 127
Basic earnings per common share of Ingredion (in dollars per share)		$ 1.77
Diluted earnings per common share of Ingredion (in dollars per share)		$ 1.73
Diluted weighted average common shares outstanding		73.3
Consolidated Statements of Cash Flows
Cash provided by operating activities		$ 96
Cash provided by financing activities		9
Consolidated Balance Sheets
Additional paid-in capital		1,154
Retained earnings		2,647
Scenerio, As Adjusted
Consolidated Statements of Income
Provision for income taxes		53
Net income		133
Net income attributable to Ingredion		$ 130
Basic earnings per common share of Ingredion (in dollars per share)		$ 1.81
Diluted earnings per common share of Ingredion (in dollars per share)		$ 1.77
Diluted weighted average common shares outstanding		73.6
Consolidated Statements of Cash Flows
Cash provided by operating activities		$ 99
Cash provided by financing activities		6
Consolidated Balance Sheets
Additional paid-in capital		1,151
Retained earnings		$ 2,650

Financial Instruments, Derivatives and Hedging Activities (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Financial instruments, derivatives and hedging activities
Accumulated gains (losses) from derivative instruments, net of tax effect	$ (1,019)	$ (1,102)
Commodity contract \| Minimum
Financial instruments, derivatives and hedging activities
Maturity period of price risk derivative	12 months
Commodity contract \| Maximum
Financial instruments, derivatives and hedging activities
Maturity period of price risk derivative	24 months
Cash-flow hedging \| Commodity contract
Financial instruments, derivatives and hedging activities
Accumulated gains (losses) from derivative instruments, net of tax effect	$ (6)	(21)
Accumulated gains (losses) from derivative instruments, net income tax effect	4	10
Cash-flow hedging \| T-Locks
Financial instruments, derivatives and hedging activities
Accumulated gains (losses) from derivative instruments, net of tax effect	(4)	(5)
Accumulated gains (losses) from derivative instruments, net income tax effect	2	2
Fair value of interest rate derivatives	0	0
Fair-value hedging \| Interest Rate Swap
Financial instruments, derivatives and hedging activities
Carrying amount of fair value adjustment related to hedged fixed rate instrument debt instrument	16	7
Fair value of interest rate derivatives	$ 16	7
Fair-value hedging \| Interest Rate Swap \| Senior Notes 6.0 Percent Due April 15, 2017
Financial instruments, derivatives and hedging activities
Debt, fixed interest rate (as a percent)	6.00%
Debt, face amount	$ 200
Debt, floating rate of interest basis	six-month US dollar LIBOR
Fair-value hedging \| Interest Rate Swap \| Senior Notes 1.8 Percent Due September 25, 2017
Financial instruments, derivatives and hedging activities
Debt, fixed interest rate (as a percent)	1.80%
Debt, face amount	$ 300
Debt, floating rate of interest basis	six-month US dollar LIBOR
Fair-value hedging \| Interest Rate Swap \| Senior Notes 4.625 Percent Due November 1, 2020
Financial instruments, derivatives and hedging activities
Debt, fixed interest rate (as a percent)	4.625%
Debt, face amount	$ 200
Debt, floating rate of interest basis	six-month US dollar LIBOR
Fair-value hedging \| Interest Rate Swap \| Maximum \| Senior Notes 4.625 Percent Due November 1, 2020
Financial instruments, derivatives and hedging activities
Debt, face amount	$ 400
Fair-value hedging \| Foreign currency forward \| Short
Foreign currency hedging
Derivative notional amount	379	606
Fair-value hedging \| Foreign currency forward \| Long
Foreign currency hedging
Derivative notional amount	$ 56	$ 287

Share-Based Compensation Stock Options (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Assumptions used to measure the fair value of awards
Expected life			5 years 6 months	5 years 6 months
Risk-free interest rate (as a percent)			1.36%	1.36%
Expected volatility (as a percent)			23.40%	25.19%
Expected dividend yield (as a percent)			1.80%	2.04%
Stock option activity
Outstanding at the beginning of the period (in shares)			2,651
Granted (in shares)			329
Exercised (in shares)			(374)
Cancelled (in shares)			(35)
Outstanding at the end of the period (in shares)	2,571		2,571
Exercisable at the end of the period (in shares)	1,811		1,811
Share options, weighted average exercise price per share
Outstanding at the beginning of the period (in dollars per share)			$ 52.93
Granted (in dollars per share)			99.96
Exercised (in dollars per share)			43.04
Cancelled (in dollars per share)			50.81
Outstanding at the end of the period (in dollars per share)	$ 60.42		60.42
Exercisable at the end of the period (in dollars per share)	$ 50.68		$ 50.68
Share options, aggregate intrinsic value
Options outstanding average remaining contractual life			6 years 3 months 11 days
Options outstanding aggregate intrinsic value	$ 177,000		$ 177,000
Stock options exercisable average remaining contractual life			5 years 3 months 7 days
Stock options exercisable aggregate intrinsic value	$ 143,000		$ 143,000
Additional information pertaining to stock options
Weighted average fair value of the shares granted	$ 0.00	$ 0.00	$ 18.73	$ 16.04
Total intrinsic value of stock options exercised	$ 11,469	$ 7,464	$ 24,134	$ 11,204
Stock options
Equity stock-based compensation
Term of options			10 years
Period of vesting			3 years
Stock option activity
Granted (in shares)			329	336
Additional information pertaining to stock options
Cash received from exercise of stock options			$ 16,000
Unrecognized compensation cost	$ 9,000		$ 9,000
Weighted-average period for amortization of unrecognized compensation cost			1 year 4 months 24 days

Share-Based Compensation Restricted Stock (Details) $ / shares in Units, shares in Thousands, $ in Millions	6 Months Ended
	Jun. 30, 2016 USD ($) $ / shares shares
Restricted stock units (RSUs)
Equity stock-based compensation
Vesting terms	3 years
Restricted unit activity
Non-vested at the beginning of the period (in shares)	439
Granted (in shares)	145
Vested (in shares)	(124)
Cancelled (in shares)	(12)
Non-vested at the end of the period (in shares)	448
Weighted-average fair value per share
Non-vested at the beginning of the period (in dollars per share) \| $ / shares	$ 69.96
Granted (in dollars per share) \| $ / shares	99.99
Vested (in dollars per share) \| $ / shares	65.63
Cancelled (in dollars per share) \| $ / shares	77.33
Non-vested at the end of the period (in dollars per share) \| $ / shares	$ 80.69
Unrecognized compensation cost \| $	$ 21
Weighted-average period for amortization of unrecognized compensation cost	1 year 10 months 24 days
Performance Shares
Restricted unit activity
Vested (in shares)	(90)
Cancelled (in shares)	0
Other disclosures
Service period over which compensation expense would be amortized	3 years

Share-Based Compensation Expense (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based compensation expense
Weighted average fair value of the shares granted	$ 0.00		$ 0.00	$ 18.73	$ 16.04
Pre-tax compensation expense	$ 7.1		$ 5.2	$ 13.8	$ 10.3
Income tax (benefit)	(2.6)		(1.9)	(5.1)	(3.8)
Total share-based compensation expense, net of income taxes	4.5		3.3	8.7	6.5
Stock options
Share-based compensation expense
Pre-tax compensation expense	2.2		1.6	4.3	3.4
Income tax (benefit)	(0.8)		(0.6)	(1.6)	(1.3)
Total share-based compensation expense, net of income taxes	1.4		1.0	2.7	2.1
Restricted stock units (RSUs)
Share-based compensation expense
Pre-tax compensation expense	3.2		2.3	6.1	4.3
Income tax (benefit)	(1.2)		(0.9)	(2.2)	(1.6)
Total share-based compensation expense, net of income taxes	2.0		1.4	$ 3.9	2.7
Performance Shares
Share-based compensation expense
Performance share units awarded		44				47	58	45
Weighted average fair value of the shares granted		$ 131.34				$ 77.54	$ 52.03	$ 67.19
Award payout achieved (as a percent)				200.00%
Unrecognized compensation costs				$ 5.0
Remaining requisite service period (in years)				2 years 1 month 6 days
Performance Shares \| Minimum
Share-based compensation expense
Performance shares available for vesting (as a percent)				0.00%
Performance Shares \| Maximum
Share-based compensation expense
Performance shares available for vesting (as a percent)				200.00%
Performance shares and other share-based awards
Share-based compensation expense
Pre-tax compensation expense	1.7		1.3	$ 3.4	2.6
Income tax (benefit)	(0.6)		(0.4)	(1.3)	(0.9)
Total share-based compensation expense, net of income taxes	$ 1.1		$ 0.9	$ 2.1	$ 1.7

Net Periodic Pension and Postretirement Benefit Costs (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2016	Jun. 30, 2015
Anticipated cash contributions
Anticipated cash contributions to pension plans in 2016				$ 5.0
US Plans
Components of Net Periodic Benefit Costs
Service cost	$ 1.6	$ 2.0		3.1	$ 3.8
Interest cost	3.4	3.7		6.8	6.9
Expected return on plan assets	(5.0)	(6.3)		(10.0)	(11.9)
Amortization of actuarial loss	0.2	0.2		0.4	0.4
Amortization of prior service credit	(0.1)			(0.1)
Net postretirement benefit cost / Net pension cost (credit)	0.1	(0.4)		0.2	(0.8)
Anticipated cash contributions
Anticipated cash contributions to pension plans in 2016				1.0
US Plans \| Maximum
Employer Contributions
Cash contributions to defined benefit pension plan				1.0
Non US Plans
Components of Net Periodic Benefit Costs
Service cost	0.8	1.1		1.6	2.3
Interest cost	2.7	3.0		5.3	6.0
Expected return on plan assets	(2.7)	(3.4)		(5.4)	(6.8)
Amortization of initial net obligation	0.1			0.2
Amortization of actuarial loss	0.4	0.5		0.8	1.1
Amortization of transition obligation		0.1			0.1
Amortization of prior service credit					(0.1)
Settlement loss	1.1			1.5
Net postretirement benefit cost / Net pension cost (credit)	2.4	1.3		4.0	2.6
Anticipated cash contributions
Anticipated cash contributions to pension plans in 2016				4.0
Non US Plans \| Maximum
Employer Contributions
Cash contributions to defined benefit pension plan				2.0
Canadian Plans
Components of Net Periodic Benefit Costs
Settlement loss	1.0
Change in the funded status	(5.0)		$ 9.0
Net postretirement benefit cost
Components of Net Periodic Benefit Costs
Service cost	0.2	0.2		0.4	0.4
Interest cost	0.7	0.8		1.4	1.5
Amortization of actuarial loss		0.1			0.3
Amortization of prior service credit	(0.8)	(0.5)		(1.6)	(1.1)
Net postretirement benefit cost / Net pension cost (credit)	$ 0.1	$ 0.6		$ 0.2	$ 1.1

Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Basic EPS:
Net Income Available to Ingredion - basic	$ 117.2	$ 106.7	$ 247.7	$ 190.3
Weighted average number of shares outstanding, basic	72.2	71.6	72.1	71.6
Basic earnings per common share of Ingredion (in dollars per share)	$ 1.62	$ 1.49	$ 3.44	$ 2.66
Incremental shares from assumed exercise of dilutive stock options and vesting of dilutive RSUs and other awards	1.8	1.1	1.7	1.2
Diluted EPS:
Net Income Available to Ingredion - diluted	$ 117.2	$ 106.7	$ 247.7	$ 190.3
Weighted average number of shares outstanding, diluted	74.0	72.7	73.8	72.8
Diluted earnings per common share of Ingredion (in dollars per share)	$ 1.58	$ 1.47	$ 3.36	$ 2.62
Antidilutive securities excluded in calculation of diluted EPS:
Antidilutive securities excluded from computation of earnings per share amount	0.1	0.3	0.3	0.3

Accumulated Other Comprehensive Loss By Equity Component (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Accumulated Other Comprehensive Loss
Balance at the beginning of the period			$ (1,102)
Gains on cash-flow hedges, net of income tax effect	$ 13	$ 11	2	$ (3)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $7 and $7	8	6	15	16
Actuarial gains (losses) on postretirement obligations, settlements and plan amendments, net of tax effect of $1	(4)	0	(4)	7
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect	(1)	(1)	(1)	(1)
Currency translation adjustment	20	20	59	(126)
Balance at end of the period	(1,019)		(1,019)
Income tax effect of accumulated other comprehensive gain (loss)
Losses on cash-flow hedges, income tax effect	7	6
Amount of losses on cash flow hedges reclassified to earnings, income tax effect	(4)	(3)	(7)	(7)
Actuarial gains on pension and postretirement obligations, settlements and plan amendments, income tax effect	(1)		(1)	2
Cumulated Translation Adjustment
Accumulated Other Comprehensive Loss
Balance at the beginning of the period			(1,025)	(701)
Currency translation adjustment			69	(126)
Balance at end of the period	(956)	(827)	(956)	(827)
Deferred Gain/(Loss) on Hedging Activities
Accumulated Other Comprehensive Loss
Balance at the beginning of the period			(29)	(19)
Gains on cash-flow hedges, net of income tax effect			2	(3)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $7 and $7			15	16
Balance at end of the period	(12)	(6)	(12)	(6)
Income tax effect of accumulated other comprehensive gain (loss)
Amount of losses on cash flow hedges reclassified to earnings, income tax effect			(7)	(7)
Pension/Postretirement Adjustment
Accumulated Other Comprehensive Loss
Balance at the beginning of the period			(47)	(61)
Actuarial gains (losses) on postretirement obligations, settlements and plan amendments, net of tax effect of $1			(4)	7
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect			1	1
Balance at end of the period	(50)	(53)	(50)	(53)
Income tax effect of accumulated other comprehensive gain (loss)
Actuarial gains on pension and postretirement obligations, settlements and plan amendments, income tax effect			1	(2)
Unrealized Loss On Investment
Accumulated Other Comprehensive Loss
Balance at the beginning of the period			(1)	(1)
Balance at end of the period	(1)	(1)	(1)	(1)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Loss
Balance at the beginning of the period			(1,102)	(782)
Gains on cash-flow hedges, net of income tax effect			2	(3)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $7 and $7			15	16
Actuarial gains (losses) on postretirement obligations, settlements and plan amendments, net of tax effect of $1			(4)	7
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect			1	1
Currency translation adjustment			69	(126)
Balance at end of the period	$ (1,019)	$ (887)	$ (1,019)	$ (887)

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Condensed Consolidated Balance Sheets
Property, plant and equipment - accumulated depreciation (in dollars)	$ 2,784	$ 2,642
Other intangible assets - accumulated amortization (in dollars)	$ 95	$ 82
Preferred stock, authorized shares	25,000,000	25,000,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, issued shares	0	0
Common stock, authorized shares	200,000,000	200,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued	77,810,875	77,810,875
Treasury stock, shares	5,674,419	6,194,510

Condensed Consolidated Statements of Cash Flows (Parenthetical) $ in Millions	6 Months Ended
	Jun. 30, 2015 USD ($)
Condensed Consolidated Statements of Cash Flows
Cash acquired from acquisition	$ 16

Interim Financial Statements	6 Months Ended
Interim Financial Statements	Jun. 30, 2016
Interim Financial Statements
Interim Financial Statements	1.Interim Financial Statements References to the “Company” are to Ingredion Incorporated (“Ingredion”) and its consolidated subsidiaries. These statements should be read in conjunction with the consolidated financial statements and the related notes to those statements contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. The unaudited condensed consolidated interim financial statements included herein were prepared by management on the same basis as the Company’s audited consolidated financial statements for the year ended December 31, 2015 and reflect all adjustments (consisting solely of normal recurring items unless otherwise noted) which are, in the opinion of management, necessary for the fair presentation of results of operations and cash flows for the interim periods ended June 30, 2016 and 2015, and the financial position of the Company as of June 30, 2016. The results for the interim periods are not necessarily indicative of the results expected for the full years.

Debt	6 Months Ended
Debt	Jun. 30, 2016
Debt
Debt	11.Debt The Company’s long-term debt at June 30, 2016 includes $350 million of borrowings under a Term Loan Credit Agreement that expires January 10, 2017 and $200 million of 6 percent Senior Notes that mature on April 15, 2017. These borrowings are included in long-term debt as the Company has the ability and intent to refinance them on a long-term basis prior to the maturity date.

Financial Instruments, Derivatives and Hedging Activities Balance Sheet Location (Details) lb in Millions, gal in Millions, bu in Millions, MMBTU in Millions, $ in Millions	Jun. 30, 2016 USD ($) MMBTU lb gal bu	Dec. 31, 2015 USD ($)
Corn commodity
Fair value of commodity contracts
Futures contract (in bushels for corn and gallons for ethanol) \| bu	83
Soybean Oil
Fair value of commodity contracts
Soybean oil futures contract (in pounds) \| lb	48
Natural Gas Commodity
Fair value of commodity contracts
Natural gas futures contract (in mmbtu) \| MMBTU	12
Ethanol Commodity
Fair value of commodity contracts
Futures contract (in bushels for corn and gallons for ethanol) \| gal	11
Designated as Hedging Instrument \| Commodity, foreign currency, and interest rate contracts \| Cash-flow hedging
Fair value of commodity contracts
Fair value of assets	$ 32	$ 32
Fair value of liabilities	50	42
Designated as Hedging Instrument \| Commodity, foreign currency, and interest rate contracts \| Other assets
Fair value of commodity contracts
Fair value of assets	23	14
Designated as Hedging Instrument \| Commodity, foreign currency, and interest rate contracts \| Non-current liabilities
Fair value of commodity contracts
Fair value of liabilities	6	4
Designated as Hedging Instrument \| Commodity and foreign currency contracts \| Accounts receivable net
Fair value of commodity contracts
Fair value of assets	9	18
Designated as Hedging Instrument \| Commodity and foreign currency contracts \| Accounts payable and accrued liabilities
Fair value of commodity contracts
Fair value of liabilities	$ 44	$ 38

Acquisitions By Acquisition (Details) - USD ($) $ in Millions	Aug. 03, 2015	Jun. 30, 2016	Dec. 31, 2015
Final purchase price allocation
Working capital (excluding cash)	$ 37
Property, plant and equipment	8
Other assets	1
Identifiable intangible assets	29
Goodwill	27	$ 605	$ 601
Total final purchase price	102
Kerr
Business Acquisition [Line Items]
Total purchase consideration	102
Final purchase price allocation
Goodwill	$ 27

Restructuring Charges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Restructuring Charges (Details) - USD ($) $ in Millions	Jun. 30, 2016	Mar. 31, 2015	Dec. 31, 2016	Jun. 30, 2016	Jun. 30, 2015
Restructuring and asset impairment charges
Restructuring costs	$ 13			$ 13	$ 10
Restructuring accrual
Restructuring costs	13			13	$ 10
Balance in severance accrual at December 31, 2015			$ 15	10
Balance in severance accrual at June 30, 2016	15			15
South America employee-related severance
Restructuring and asset impairment charges
Restructuring costs	3
Restructuring accrual
Restructuring costs	3
IT transformation
Restructuring and asset impairment charges
Restructuring costs	8
Restructuring accrual
Restructuring costs	$ 8
IT transformation \| Forecast
Restructuring and asset impairment charges
Restructuring costs			6
Restructuring accrual
Restructuring costs			$ 6
Penford, Kerr and recent acquisitions
Restructuring and asset impairment charges
Restructuring costs		$ 10
Restructuring accrual
Restructuring costs		$ 10
Employee Severance related costs
Restructuring accrual
Restructuring charge for employee severance costs				20
Payments made to terminated employees				(5)
Employee Severance related costs \| South America employee-related severance
Restructuring accrual
Restructuring charge for employee severance costs				3
Employee Severance related costs \| IT transformation
Restructuring accrual
Restructuring charge for employee severance costs				7
Employee Severance related costs \| Manufacturing assets in Port Colborne, Ontario, Canada
Restructuring and asset impairment charges
Restructuring costs				2
Restructuring accrual
Restructuring costs				$ 2

Segment Information (Details) $ in Millions	3 Months Ended		6 Months Ended
Segment Information (Details) $ in Millions	Jun. 30, 2016 USD ($)	Jun. 30, 2015 USD ($)	Jun. 30, 2016 USD ($) segment	Jun. 30, 2015 USD ($)	Dec. 31, 2015 USD ($)
Segment information
Number of reportable business segments \| segment			4
Net sales	$ 1,455	$ 1,449	$ 2,815	$ 2,779
Operating income	198	173	398	312
Restructuring charges	(13)		(13)	(10)
Charge for fair value markup of acquired inventory				(6)
Total Assets	5,313		5,313		$ 5,074
Operating Segments
Segment information
Operating income	211	180	412	337
Total Assets	5,313		5,313		5,074
Operating Segments \| North America
Segment information
Net sales	895	869	1,735	1,623
Operating income	160	127	309	229
Total Assets	3,254		3,254		3,163
Operating Segments \| South America
Segment information
Net sales	240	250	455	508
Operating income	14	20	32	45
Total Assets	793		793		714
Operating Segments \| Asia Pacific
Segment information
Net sales	180	192	349	379
Operating income	30	28	58	54
Total Assets	760		760		716
Operating Segments \| EMEA
Segment information
Net sales	140	138	276	269
Operating income	29	23	55	45
Total Assets	506		506		$ 481
Corporate, Non-Segment
Segment information
Operating income	(22)	(18)	(42)	(36)
Restructuring charges	$ (13)		(13)	(10)
Acquisition / integration costs		(4)	$ (1)	(8)
Charge for fair value markup of acquired inventory		$ (3)		$ (7)

Financial Instruments, Derivatives and Hedging Activities Recurring And Nonrecurring (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Fair value of assets and liabilities
Long-term debt	$ 1,930
Fair Value, Measurements, Recurring \| Level 1
Fair value of assets and liabilities
Available for sale securities	6	$ 6
Derivative assets	1	2
Derivative liabilities	19	21
Fair Value, Measurements, Recurring \| Level 2
Fair value of assets and liabilities
Derivative assets	31	30
Derivative liabilities	31	21
Long-term debt	1,925	1,912
Fair Value, Measurements, Recurring \| Total
Fair value of assets and liabilities
Available for sale securities	6	6
Derivative assets	32	32
Derivative liabilities	50	42
Long-term debt	$ 1,925	$ 1,912

Financial Instruments, Derivatives and Hedging Activities Debt Instruments (Details) $ in Millions	Jun. 30, 2016 USD ($)
Financial Instruments, Derivatives and Hedging Activities
Carrying amount	$ 1,800
Long-term debt	$ 1,930

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Inventories
Finished and in process	$ 447	$ 434
Raw materials	266	229
Manufacturing supplies and other	50	52
Total inventories	$ 763	$ 715

Debt (Details) $ in Millions	Jun. 30, 2016 USD ($)
Term Loan Credit Agreement due January 10, 2017
Debt
Debt, face amount	$ 350
Senior Notes 6.00 Percent Due April 15, 2017
Debt
Debt, face amount	$ 200
Debt, interest rate (as a percent)	6.00%