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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2016	Feb. 17, 2017	Jun. 30, 2016
Document and Entity Information
Entity Registrant Name	Ingredion Inc
Entity Central Index Key	0001046257
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 9,305,000,000
Entity Common Stock, Shares Outstanding		71,790,000
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	FY

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Consolidated Statements of Income
Net sales before shipping and handling costs	$ 6,022	$ 5,958	$ 5,998
Less: shipping and handling costs	318	337	330
Net sales	5,704	5,621	5,668
Cost of sales	4,302	4,379	4,553
Gross profit	1,402	1,242	1,115
Selling, general and administrative expenses	579	555	525
Other (income) - net	(4)	(1)	(24)
Restructuring / impairment charges	19	28	33
Operating expenses	594	582	534
Operating income	808	660	581
Financing costs-net	66	61	61
Income before income taxes	742	599	520
Provision for income taxes	246	187	157
Net income	496	412	363
Less: Net income attributable to non-controlling interests	11	10	8
Net income attributable to Ingredion	$ 485	$ 402	$ 355
Weighted average common shares outstanding:
Basic (in shares)	72.3	71.6	73.6
Diluted (in shares)	74.1	73.0	74.9
Earnings per common share of Ingredion:
Basic (in dollars per share)	$ 6.70	$ 5.62	$ 4.82
Diluted (in dollars per share)	$ 6.55	$ 5.51	$ 4.74

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Consolidated Statements of Comprehensive Income
Net income	$ 496	$ 412	$ 363
Other comprehensive income (loss):
Losses on cash-flow hedges, net of income tax effect of $6, $19 and $12, respectively	(11)	(42)	(29)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $16, $14 and $23, respectively	33	32	50
Actuarial gain (loss) on pension and other postretirement obligations, settlements and plan amendments, net of income tax effect of $4, $5 and $5, respectively	(10)	13	(12)
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect of $-, $- and $1, respectively	1	1	4
Unrealized gain on investments, net of income tax effect	1
Currency translation adjustment	7	(324)	(212)
Comprehensive income	517	92	164
Less: Comprehensive income attributable to non-controlling interests	12	10	8
Comprehensive income attributable to Ingredion	$ 505	$ 82	$ 156

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Consolidated Statements of Comprehensive Income
Losses on cash-flow hedges, net of income tax effect	$ 6	$ 19	$ 12
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of	(16)	(14)	(23)
Actuarial gains on pension and postretirement obligations, settlements and plan amendments, income tax effect	$ 4	$ (5)	5
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect			$ (1)

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents	$ 512	$ 434
Short-term investments	4	6
Accounts receivable - net	923	775
Inventories	789	715
Prepaid expenses	24	20
Total current assets	2,252	1,950
Property, plant and equipment, at cost
Land	183	171
Buildings	704	643
Machinery and equipment	4,055	3,817
Property, Plant and Equipment - Gross	4,942	4,631
Less: accumulated depreciation	2,826	2,642
Property, plant and equipment - net	2,116	1,989
Goodwill	784	601
Other intangible assets - net of accumulated amortization of $106 and $82, respectively	502	410
Deferred income tax assets	7	7
Other assets	121	117
Total Assets	5,782	5,074
Current liabilities
Short-term borrowings	106	19
Accounts payable	440	423
Accrued liabilities	432	300
Total current liabilities	978	742
Non-current liabilities	158	170
Long-term debt	1,850	1,819
Deferred income tax liabilities	171	139
Share-based payments subject to redemption	30	24
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, 2016 and December 31, 2015, respectively	1	1
Additional paid-in capital	1,149	1,160
Less - Treasury stock (common stock: 5,396,526 and 6,194,510 shares at December 31, 2016 and December 31, 2015, respectively) at cost	(413)	(467)
Accumulated other comprehensive loss	(1,071)	(1,102)
Retained earnings	2,899	2,552
Total Ingredion stockholders' equity	2,565	2,144
Non-controlling interests	30	36
Total equity	2,595	2,180
Total liabilities and equity	$ 5,782	$ 5,074

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accumulated depreciation (in dollars)	$ 2,826	$ 2,642
Other intangible assets - accumulated amortization (in dollars)	$ 106	$ 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	5,396,526	6,194,510
Common Stock Issued
Common stock, shares issued	77,811,000	77,811,000	77,811,000	77,673,000
Treasury Stock
Common stock, shares issued	5,397,000	6,195,000	6,489,000	3,361,000
Common Stock Shares Outstanding
Common stock, shares issued	72,414,000	71,616,000	71,322,000	74,312,000

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, 2013	$ 1	$ 1,166	$ (225)	$ (583)	$ 2,045	$ 25
Balance Share-based Payments Subject to Redemption at Dec. 31, 2013							$ 24
Increase (Decrease) in Stockholders' Equity
Net income attributable to Ingredion					355			$ 355
Net income attributable to non-controlling interests						8		(8)
Dividends declared					(125)	(3)
Repurchases of common stock		(3)	(301)
Issuance of common stock on exercise of stock options		(17)	37
Stock option expense		7
Other share-based compensation		5	8				(2)
Excess tax benefit on share-based compensation		6
Other Comprehensive loss				(199)
Balance at Dec. 31, 2014	1	1,164	(481)	(782)	2,275	30
Balance Share-based Payments Subject to Redemption at Dec. 31, 2014							22
Increase (Decrease) in Stockholders' Equity
Net income attributable to Ingredion					402			402
Net income attributable to non-controlling interests						10		(10)
Dividends declared					(125)	(4)
Repurchases of common stock		(7)	(34)
Issuance of common stock on exercise of stock options		(14)	35
Stock option expense		7
Other share-based compensation		2	13				2
Excess tax benefit on share-based compensation		8
Other Comprehensive loss				(320)
Balance at Dec. 31, 2015	1	1,160	(467)	(1,102)	2,552	36		2,180
Balance Share-based Payments Subject to Redemption at Dec. 31, 2015							24	24
Increase (Decrease) in Stockholders' Equity
Net income attributable to Ingredion					485			485
Net income attributable to non-controlling interests						11		(11)
Dividends declared					(138)	(7)
Repurchases of common stock		(8)
Issuance of common stock on exercise of stock options		(14)	43
Stock option expense		9
Other share-based compensation		2	11				6
Other Comprehensive loss				31		(10)
Balance at Dec. 31, 2016	$ 1	$ 1,149	$ (413)	$ (1,071)	$ 2,899	$ 30		2,595
Balance Share-based Payments Subject to Redemption at Dec. 31, 2016							$ 30	$ 30

Consolidated Statements of Equity and Redeemable Equity (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Consolidated Statements of Equity and Redeemable Equity
Losses on cash-flow hedges, income tax effect	$ (6)	$ (19)	$ (12)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of	(16)	(14)	(23)
Actuarial gains on pension and postretirement obligations, settlements and plan amendments, income tax effect	$ (4)	$ 5	(5)
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect			$ (1)

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash provided by operating activities:
Net income	$ 496	$ 412	$ 363
Non-cash charges to net income:
Depreciation and amortization	196	194	195
Deferred income taxes	(5)	(6)	(11)
Write-off of impaired assets		10	33
Gain on sale of plant		(10)
Charge for fair value mark-up of acquired inventory		10
Other	101	96	68
Changes in working capital:
Accounts receivable and prepaid expenses	(131)	(29)	(15)
Inventories	(19)	9	(6)
Accounts payable and accrued liabilities	127	30	66
Margin accounts	15	(34)	39
Other	(9)	4	(1)
Cash provided by operating activities	771	686	731
Cash used for investing activities:
Payments for acquisitions, net of cash acquired of $4, $16 and $-, respectively	(407)	(434)
Capital expenditures	(284)	(280)	(276)
Investment in non-consolidated affiliate	(2)
Short-term investments	1	27	(34)
Proceeds from disposal of plants and properties	3	38	5
Proceeds from sale of investment			11
Cash used for investing activities	(689)	(649)	(294)
Cash provided by (used for) financing activities:
Proceeds from borrowings	1,000	1,388	231
Payments on debt	(874)	(1,366)	(213)
Debt issuance costs	(6)
Repurchase of common stock	(8)	(41)	(304)
Issuance of common stock	29	21	20
Dividends paid (including to non-controlling interests)	(141)	(126)	(128)
Excess tax benefit on share-based compensation		8	6
Cash used for financing activities		(116)	(388)
Effect of foreign exchange rate changes on cash	(4)	(67)	(43)
Increase (decrease) in cash and cash equivalents	78	(146)	6
Cash and cash equivalents, beginning of period	434	580	574
Cash and cash equivalents, end of period	$ 512	$ 434	$ 580

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Consolidated Statements of Cash Flows
Cash acquired from acquisition	$ 4	$ 16

Description of the Business	12 Months Ended
Description of the Business	Dec. 31, 2016
Description of the Business
Description of the Business	NOTE 1 – Description of the Business Ingredion Incorporated (“the Company”) was founded in 1906 and became an independent and public company as of December 31, 1997. The Company primarily manufactures and sells sweetener, starches, nutrition ingredients and biomaterial solutions derived from the wet milling and processing of corn and other starch-based materials to a wide range of industries, both domestically and internationally.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2016

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

NOTE 2 – Summary of Significant Accounting Policies

Basis of presentation -- The consolidated financial statements consist of the accounts of the Company, including all significant subsidiaries. Intercompany accounts and transactions are eliminated in consolidation.

The preparation of the accompanying consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenues and expenses. Such estimates include the value of purchase consideration, valuation of accounts receivable, inventories, goodwill, intangible assets and other long-lived assets, legal contingencies, guarantee obligations, and assumptions used in the calculation of income taxes, and pension and other postretirement benefits, among others. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. Management will adjust such estimates and assumptions when facts and circumstances dictate. Foreign currency devaluations, corn price volatility, access to difficult credit markets and adverse changes in the global economic environment have combined to increase the uncertainty inherent in such estimates and assumptions. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in these estimates will be reflected in the financial statements in future periods.

Assets and liabilities of foreign subsidiaries, other than those whose functional currency is the US dollar, are translated at current exchange rates with the related translation adjustments reported in equity as a component of accumulated other comprehensive income (loss). The US dollar is the functional currency for the Company’s Mexico subsidiary. Income statement accounts are translated at the average exchange rate during the period. However, significant nonrecurring items related to a specific event are recognized at the exchange rate on the date of the significant event. For foreign subsidiaries where the US dollar is the functional currency, monetary assets and liabilities are translated at current exchange rates with the related adjustment included in net income. Non-monetary assets and liabilities are translated at historical exchange rates. Although the Company hedges the predominance of its transactional foreign exchange risk (see Note 6), the Company incurs foreign currency transaction gains/losses relating to assets and liabilities that are denominated in a currency other than the functional currency. For 2016, 2015 and 2014, the Company incurred foreign currency transaction losses of $3 million, $6 million and $1 million, respectively. The Company’s accumulated other comprehensive loss included in equity on the Consolidated Balance Sheets includes cumulative translation losses of approximately $1 billion at both December 31, 2016 and 2015.

Cash and cash equivalents -- Cash equivalents consist of all instruments purchased with an original maturity of three months or less, and which have virtually no risk of loss in value.

Inventories -- Inventories are stated at the lower of cost or net realizable value. Costs are predominantly determined using the weighted average method.

Investments -- Investments in the common stock of affiliated companies over which the Company does not exercise significant influence are accounted for under the cost method. In 2016, the Company invested $2 million in SweeGen Inc. which it accounts for under the cost method. In 2014, the Company sold an investment that it had accounted for under the cost method. The Company received $11 million in cash and recorded a pre-tax gain of $5 million from the sale. Investments that enable the Company to exercise significant influence, but do not represent a controlling interest, are accounted for under the equity method; such investments are carried at cost, adjusted to reflect the Company’s proportionate share of income or loss, less dividends received. The Company did not have any investments accounted for under the equity method at December 31, 2016 or 2015. The Company has equity interests in the CME Group Inc. and CBOE Holdings, Inc., which are classified as available for sale securities. The investments are carried at fair value with unrealized gains and losses recorded to other comprehensive income. The Company would recognize a loss on its investments when there is a loss in value of an investment that is other than temporary. Investments are included in Other assets in the Consolidated Balance Sheets and are not significant.

Leases -- The Company leases rail cars, certain machinery and equipment, and office space. The Company classifies its leases as either capital or operating based on the terms of the related lease agreement and the criteria contained in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 840, Leases, and related interpretations.

Property, plant and equipment and depreciation -- Property, plant and equipment (“PP&E”) are stated at cost less accumulated depreciation. Depreciation is generally computed on the straight-line method over the estimated useful lives of depreciable assets, which range from 25 to 50 years for buildings and from 2 to 25 years for all other assets. Where permitted by law, accelerated depreciation methods are used for tax purposes. The Company reviews the recoverability of the net book value of PP&E for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable from estimated future cash flows expected to result from its use and eventual disposition. If this review indicates that the carrying values will not be recovered, the carrying values would be reduced to fair value and an impairment loss would be recognized. As required under accounting principles generally accepted in the United States, the impairment analysis for long-lived assets occurs before the goodwill impairment assessment described below.

Goodwill and other intangible assets -- Goodwill ($784 million and $601 million at December 31, 2016 and 2015, respectively) represents the excess of the cost of an acquired entity over the fair value assigned to identifiable assets acquired and liabilities assumed. The Company also has other intangible assets of $502 million and $410 million at December 31, 2016 and 2015, respectively. The carrying amount of goodwill by reportable business segment at December 31, 2016 and 2015 was as follows:


	North		South		Asia
(in millions)	America		America		Pacific		EMEA		Total

Balance at December 31, 2013	$	278	$	78	$	97	$	82	$	535
Impairment charges		—		(33)		—		—		(33)
Currency translation		—		(13)		(4)		(7)		(24)
Balance at December 31, 2014	$	278	$	32	$	93	$	75	$	478
Acquisitions		148		—		—		—		148
Disposal		(2)		—		—		—		(2)
Currency translation		—		(10)		(7)		(6)		(23)
Balance at December 31, 2015	$	424	$	22	$	86	$	69	$	601
Acquisitions		186		—		—		—		186
Currency translation		—		4		(1)		(6)		(3)
Balance at December 31, 2016	$	610	$	26	$	85	$	63	$	784

Goodwill before impairment charges	$	425	$	55	$	207	$	69	$	756
Accumulated impairment charges		(1)		(33)		(121)		—		(155)
Balance at December 31, 2015	$	424	$	22	$	86	$	69	$	601

Goodwill before impairment charges	$	611	$	59	$	206	$	63	$	939
Accumulated impairment charges		(1)		(33)		(121)		—		(155)
Balance at December 31, 2016	$	610	$	26	$	85	$	63	$	784

The following table summarizes the Company’s other intangible assets for the periods presented:


	As of December 31, 2016							As of December 31, 2015
							Weighted							Weighted
							Average							Average
							Useful							Useful
			Accumulated				Life			Accumulated				Life
(in millions)	Gross		Amortization		Net		(years)	Gross		Amortization		Net		(years)
Trademarks/tradenames	$	143	$	—	$	143	—	$	144	$	—	$	144	—
Customer relationships		227		(42)		185	20		235		(32)		203	25
Technology		100		(57)		43	10		99		(45)		54	10
TIC Gums intangible assets (preliminary)		117		—		117	Various		—		—		—	—
Other		21		(7)		14	16		14		(5)		9	8
Total other intangible assets	$	608	$	(106)	$	502	17	$	492	$	(82)	$	410	19

On December 29, 2016, the Company completed its acquisition of TIC Gums Incorporated (“TIC Gums”). A preliminary allocation of the purchase price to the assets acquired and liabilities assumed was made based on available information and incorporating management’s best estimates. The table above includes the preliminary allocation of both definite –lived and indefinite intangible assets. See Note 3 of the notes to the consolidated financial statements for additional information.

For definite-lived intangible assets, the Company recognizes the cost of such amortizable assets in operations over their estimated useful lives and evaluates the recoverability of the assets whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. Amortization expense related to intangible assets was $25 million in 2016, $22 million in 2015, and $14 million in 2014.

Based on acquisitions completed through December 31, 2016 including the preliminary purchase price allocations for TIC Gums and Shandong Huanong Specialty Corn Development Co., Ltd., intangible asset amortization expense for the next five years is shown below. The amortization is subject to change based on finalization of the purchase accounting for both acquisitions.


(in millions)
Year	Amortization Expense
2017	$	30
2018		29
2019		29
2020		27
2021		18

The Company assesses goodwill and other indefinite-lived intangible assets for impairment annually (or more frequently if impairment indicators arise). The Company has chosen to perform this annual impairment assessment as of October 1 of each year.

In testing goodwill for impairment, the Company first assesses qualitative factors in determining whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. After assessing the qualitative factors, if the Company determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount then the Company does not perform the two-step impairment test. If the Company concludes otherwise, then it performs the first step of the two-step impairment test as described in ASC Topic 350. In the first step, the fair value of the reporting unit is compared to its carrying value. If the fair value of the reporting unit exceeds the carrying value of its net assets, goodwill is not considered impaired and no further testing is required. If the carrying value of the net assets exceeds the fair value of the reporting unit, a second step of the impairment assessment is performed in order to determine the implied fair value of a reporting unit's goodwill. Determining the implied fair value of goodwill requires a valuation of the reporting unit's tangible and intangible assets and liabilities in a manner similar to the allocation of purchase price in a business combination. If the carrying value of the reporting unit's goodwill exceeds the implied fair value of its goodwill, goodwill is deemed impaired and is written down to the extent of the difference. Based on the results of the annual assessment, the Company concluded that as of October 1, 2016, it was more likely than not that the fair value of its reporting units was greater than their carrying value (although the $26 million of goodwill at the Company’s Brazil reporting unit continues to be closely monitored due to recent trends and increased volatility experienced in this reporting unit, such as continued slow economic growth, heightened competition and possible future negative economic growth).

The results of the Company’s impairment testing in the fourth quarter of 2014 indicated that the estimated fair value of the Company’s Southern Cone of South America reporting unit was less than its carrying amount. Therefore, the Company recorded a non-cash impairment charge of $33 million to write-off the remaining balance of goodwill for this reporting unit in 2014.

In testing indefinite-lived intangible assets for impairment, the Company first assesses qualitative factors to determine whether it is more likely than not that the fair value of an indefinite-lived intangible asset is impaired. After assessing the qualitative factors, if the Company determines that it is not more likely than not that the fair value of an indefinite-lived intangible asset is less than its carrying amount, then it would not be required to compute the fair value of the indefinite-lived intangible asset. In the event the qualitative assessment leads the Company to conclude otherwise, then it would be required to determine the fair value of the indefinite-lived intangible asset and perform the quantitative impairment test in accordance with ASC subtopic 350-30. In performing the qualitative analysis, the Company considers various factors including net sales derived from these intangibles and certain market and industry conditions. Based on the results of this qualitative assessment, the Company concluded that as of October 1, 2016, it was more likely than not that the fair value of the indefinite-lived intangible assets was greater than their carrying value.

Revenue recognition -- The Company recognizes operating revenues at the time title to the goods and all risks of ownership transfer to the customer. This transfer is considered complete when a sales agreement is in place, delivery has occurred, pricing is fixed or determinable and collection is reasonably assured. In the case of consigned inventories, the title passes and the transfer of ownership risk occurs when the goods are used by the customer. Taxes assessed by governmental authorities and collected from customers are accounted for on a net basis and excluded from revenues.

Hedging instruments -- The Company uses derivative financial instruments principally to offset exposure to market risks arising from changes in commodity prices, foreign currency exchange rates and interest rates. Derivative financial instruments used by the Company consist of commodity futures and option contracts, forward currency contracts and options, interest rate swap agreements and treasury lock agreements. The Company enters into futures and option contracts, which are designated as hedges of specific volumes of commodities (primarily corn and natural gas) that will be purchased in a future month. These derivative financial instruments are recognized in the Consolidated Balance Sheets at fair value. The Company has also entered into interest rate swap agreements that effectively convert the interest rate on certain fixed rate debt to a variable interest rate and, on certain variable rate debt, to a fixed interest rate. The Company periodically enters into treasury lock agreements to lock the benchmark rate for an anticipated fixed-rate borrowing. See also Note 6 and Note 7 of the notes to the consolidated financial statements for additional information.

On the date a derivative contract is entered into, the Company designates the derivative as either a hedge of variable cash flows to be paid related to interest on variable rate debt, as a hedge of market variation in the benchmark rate for a future fixed rate debt issue, as a hedge of foreign currency cash flows associated with certain forecasted commercial transactions or loans, as a hedge of certain forecasted purchases of corn, natural gas or ethanol used in the manufacturing process (“a cash-flow hedge”), or as a hedge of the fair value of certain debt obligations (“a fair-value hedge”). This process includes linking all derivatives that are designated as fair-value or cash-flow hedges to specific assets and liabilities on the Consolidated Balance Sheet, or to specific firm commitments or forecasted transactions. For all hedging relationships, the Company documents the hedging relationships and its risk-management objective and strategy for undertaking the hedge transactions, the hedging instrument, the hedged item, the nature of the risk being hedged, how the hedging instrument’s effectiveness in offsetting the hedged risk will be assessed and a description of the method of measuring ineffectiveness. The Company also formally assesses both, at the hedge’s inception and on an ongoing basis, whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in cash flows or fair values of hedged items. When it is determined that a derivative is not highly effective as a hedge or has ceased to be a highly effective hedge, the Company discontinues hedge accounting prospectively.

Changes in the fair value of floating-to-fixed interest rate swaps, treasury locks, commodity futures and option contracts or foreign currency forward contracts, swaps and options that are highly effective and that are designated and qualify as cash-flow hedges are recorded in other comprehensive income, net of applicable income taxes. Realized gains and losses associated with changes in the fair value of interest rate swaps and treasury locks are reclassified from accumulated other comprehensive income (“AOCI”) to the Consolidated Statement of Income over the life of the underlying debt. Gains and losses on hedges of foreign currency cash flows associated with certain forecasted commercial transactions or loans are reclassified from AOCI to the Consolidated Statement of Income when such transactions or obligations are settled. Gains and losses on commodity hedging contracts are reclassified from AOCI to the Consolidated Statement of Income when the finished goods produced using the hedged item are sold. The maximum term over which the Company hedges exposures to the variability of cash flows for commodity price risk is generally 24 months. Changes in the fair value of a fixed-to-floating interest rate swap agreement that is highly effective and that is designated and qualifies as a fair-value hedge, along with the loss or gain on the hedged debt obligation, are recorded in earnings. The ineffective portion of the change in fair value of a derivative instrument that qualifies as either a cash-flow hedge or a fair-value hedge is reported in earnings.

The Company discontinues hedge accounting prospectively when it is determined that the derivative is no longer effective in offsetting changes in the cash flows or fair value of the hedged item, the derivative is de-designated as a hedging instrument because it is unlikely that a forecasted transaction will occur, or management determines that designation of the derivative as a hedging instrument is no longer appropriate. When hedge accounting is discontinued, the Company continues to carry the derivative on the Consolidated Balance Sheet at its fair value, and gains and losses that were included in AOCI are recognized in 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 uses derivative financial instruments such as foreign currency forward contracts, swaps and options to manage the transactional foreign exchange risk that is created when transactions not denominated in the functional currency of the operating unit are revalued. The changes in fair value of these derivative instruments and the offsetting changes in the value of the underlying non-functional currency denominated transactions are recorded in earnings on a monthly basis.

Stock-based compensation -- The Company has a stock incentive plan that provides for stock-based employee compensation, including the granting of stock options, shares of restricted stock, restricted stock units and performance shares to certain key employees. Compensation expense is recognized in the Consolidated Statements of Income for the Company’s stock-based employee compensation plan. The plan is more fully described in Note 12 of the notes to the consolidated financial statements.

Earnings per common share -- Basic earnings per common share is computed by dividing net income attributable to Ingredion by the weighted average number of shares outstanding, which totaled 72.3 million for 2016, 71.6 million for 2015 and 73.6 million for 2014. Diluted earnings per share (EPS) is computed by dividing net income attributable to Ingredion by the weighted average number of shares outstanding, including the dilutive effect of outstanding stock options and other instruments associated with long-term incentive compensation plans. The weighted average number of shares outstanding for diluted EPS calculations was 74.1 million, 73.0 million and 74.9 million for 2016, 2015 and 2014, respectively. In 2016, the number of share-based awards of common stock excluded from the calculation of weighted average number of shares outstanding for the diluted EPS because their effects were not dilutive was not material. In 2015 and 2014, approximately 0.3 million and 0.1 million share-based awards of common stock, respectively, were excluded from the calculation of the weighted average number of shares outstanding for diluted EPS because their effects were anti-dilutive.

Risks and uncertainties -- The Company operates domestically and internationally. In each country, the business and assets are subject to varying degrees of risk and uncertainty. The Company insures its business and assets in each country against insurable risks in a manner that it deems appropriate. Because of this geographic dispersion, the Company believes that a loss from non-insurable events in any one country would not have a material adverse effect on the Company’s operations as a whole. Additionally, the Company believes there is no significant concentration of risk with any single customer or supplier whose failure or non-performance would materially affect the Company’s results.

Recently adopted accounting standards -- 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.

The Company 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 the Company’s 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. The Company has elected to continue to estimate forfeitures expected to occur to determine the amount of compensation cost to be recognized in each period.

The Company 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 year ended December 31, 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 the Company’s 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 the Company’s provision for income taxes rather than additional paid-in-capital of $12 million for the year ended December 31, 2016, as well as an increase of 0.4 million diluted weighted average common shares outstanding for this period. The adoption of the new standard impacted the Company’s 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

Acquisitions

12 Months Ended

Dec. 31, 2016

Acquisitions

Acquisitions

NOTE 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 provided the Company with the opportunity to expand its product portfolio. The Company finalized the purchase price allocation during the first quarter of 2016, which did not have a significant impact on previously estimated amounts.

On December 29, 2016, the Company completed its acquisition of TIC Gums Incorporated (“TIC Gums”), a privately held, U.S.-based company that provides advanced texture systems to the food and beverage industry for $395 million, net of cash acquired. A preliminary allocation of the purchase price to the assets acquired and liabilities assumed was made based on available information and incorporating management’s best estimates. The assets acquired and liabilities assumed in the transactions are generally recorded at their estimated acquisition date fair values, while transaction costs associated with the acquisition were expensed as incurred. All of the recorded assets and liabilities, including working capital, PP&E, goodwill and intangibles, are open to change as the Company is still in process of performing purchase accounting. The Company funded the acquisition with proceeds from borrowings under its revolving credit agreement. The results of the acquired operations will be included in the Company’s consolidated results from the respective acquisition dates forward within the North America and Asia Pacific business segments.

Goodwill represents the amount by which the purchase price exceeds the estimated fair value of the net assets acquired. The goodwill of $186 million and $27 million for TIC Gums and Kerr, respectively, result from synergies and other operational benefits expected to be derived from the acquisitions. The goodwill related to each acquisition is tax deductible due to the structure of the acquisitions.

The following table summarizes the finalized purchase price allocation for the acquisition of Kerr and preliminary purchase price allocation for the acquisition of TIC Gums as of August 3, 2015 and December 29, 2016, respectively:


		Final		Preliminary
(in millions)		Kerr		TIC Gums
Working capital (excluding cash)	$	37	$	50
Property, plant and equipment		8		42
Other assets		1		—
Identifiable intangible assets		29		117
Goodwill		27		186
Total purchase price	$	102	$	395

The identifiable intangible assets for the acquisition of Kerr included items such as customer relationships, proprietary technology, 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 fair value estimates to be made in 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 at the acquisition date for these Level 3 measurements (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 acquisitions 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.

On November 29, 2016, the Company completed its acquisition of Shandong Huanong Specialty Corn Development Co., Ltd. (“Shandong Huanong”) in China for $12 million in cash. The acquisition of Shandong Huanong, located in Shandong Province, adds a second manufacturing facility to our operations in China. It produces starch raw material for our plant in Shanghai, which makes value-added ingredients for the food industry. The acquisition added $7 million to intangible assets, with $5 million allocated to net tangible assets. The purchase accounting is still open to finalize the valuation of the intangibles.

Pro-forma results of operations for the acquisitions made in 2016 have not been presented as the effect of each acquisition individually and in aggregate would not be material to the Company’s results of operations for any periods presented.

The Company incurred $3 million of pre-tax acquisition and integration costs for 2016 associated with its recent acquisitions. In 2015, the Company incurred $10 million of pre-tax acquisition and integration costs associated with the 2015 acquisitions.

- 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).

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+ Details

Sale of Canadian Plant	12 Months Ended
Sale of Canadian Plant	Dec. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Sale of Canadian Plant	NOTE 4 – Sale of Canadian Plant On December 15, 2015, the Company sold its manufacturing assets in Port Colborne, Ontario, Canada for $35 million in cash. The Company recorded a pre-tax gain of $10 million on the sale, net of the write-off of goodwill of $2 million associated with the business. The Company also recorded pre-tax restructuring charges of $4 million in 2015 associated with the sale of the plant as described below. Additionally, in 2016 the Company recorded pre-tax restructuring charges of $2 million related to the Port Colborne plant sale.

- Definition

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Restructuring and Impairment Charges

12 Months Ended

Dec. 31, 2016

Restructuring Charges [Abstract]

Restructuring and Impairment Charges

NOTE 5 – Restructuring and Impairment Charges

In 2016, the Company recorded $19 million of restructuring charges consisting of $11 million of employee-related severance and other costs due to the execution of global information technology (“IT”) outsourcing contracts, $6 million of employee-related severance costs associated with the Company’s optimization initiatives in North America and South America, and $2 million of costs attributable to the 2015 Port Colborne plant sale. The Company expects to incur approximately $1 million of costs associated with the IT outsourcing project in 2017.

On September 8, 2015, the Company announced that it planned to consolidate its manufacturing network in Brazil. Production at plants in Trombudo Central and Conchal has ceased and has been moved to plants in Balsa Nova and Mogi Guaçu, respectively. The Company recorded total pre-tax restructuring-related charges of $12 million related to these plant closures in 2015, consisting of a $10 million charge for impaired assets and $2 million of employee severance-related costs.

The Company also recorded pre-tax restructuring charges of $4 million in 2015, of which $2 million was for estimated employee severance-related costs, associated with the Port Colborne plant sale.

Additionally in 2015, the Company recorded a pre-tax restructuring charge of $12 million for employee severance-related costs associated with the Penford acquisition.

A summary of the Company’s severance accrual at December 31, 2016 is as follows (in millions):


Balance in severance accrual at December 31, 2015	$	10
Restructuring charge for employee severance costs:
IT transformation		6
North America and South America employee-related severance		6
Payments made to terminated employees		(15)
Balance in severance accrual at December 31, 2016	$	7

The severance accrual at December 31, 2016 is expected to be paid within the next twelve months.

The Company assesses goodwill and other indefinite-lived intangible assets for impairment annually (or more frequently if impairment indicators arise) as of October 1 of each year. No goodwill impairment was recognized in either the fourth quarter of 2016 or 2015 related to the Company’s annual impairment testing. The results of the Company’s impairment testing in the fourth quarter of 2014 indicated that the estimated fair value of the Company’s Southern Cone of South America reporting unit was less than its carrying amount. Therefore, the Company recorded a non-cash impairment charge of $33 million in the fourth quarter of 2014 to write-off the remaining balance of goodwill for this reporting unit.

Financial Instruments, Derivatives and Hedging Activities

12 Months Ended

Dec. 31, 2016

Financial Instruments, Derivatives and Hedging Activities

Financial Instruments, Derivatives and Hedging Activities

NOTE 6 – Financial Instruments, Derivatives and Hedging Activities

The Company is exposed to market risk stemming from changes in commodity prices (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. The Company maintains a commodity-price risk management strategy that uses derivative instruments to minimize significant, unanticipated earnings fluctuations caused by commodity-price volatility. For example, the manufacturing of the Company’s products requires a significant volume of corn and natural gas. Price fluctuations in corn and natural gas cause the actual purchase price of corn and natural gas to differ from anticipated prices.

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 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. Effective with the acquisition of Penford, the Company now produces and sells ethanol. The Company now enters into futures contracts to hedge price risk associated with fluctuations in market prices 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 Consolidated Balance Sheets as part of 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 December 31, 2016, the amount included in AOCI relating to these commodities-related derivative instruments designated as cash-flow hedges was not significant. 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: The Company assesses its exposure to variability in interest rates by identifying and monitoring changes in interest rates that may adversely impact future cash flows and the fair value of existing debt instruments, and by evaluating hedging opportunities. The Company maintains risk management control systems to monitor interest rate risk attributable to both the Company’s outstanding and forecasted debt obligations as well as the Company’s offsetting hedge positions. The risk management control systems involve the use of analytical techniques, including sensitivity analysis, to estimate the expected impact of changes in interest rates on future cash flows and the fair value of the Company’s outstanding and forecasted debt instruments.

Derivative financial instruments that have been used by the Company to manage its interest rate risk consist of Treasury Lock agreements (“T-Locks”) and interest rate swaps. The Company periodically enters into T-Locks to fix the benchmark component of the interest rate to be established for certain planned fixed-rate debt issuances. The T-Locks are designated as hedges of the variability in cash flows associated with future interest payments caused by market fluctuations in the benchmark interest rate until the fixed interest rate is established, and are accounted for as cash-flow hedges. Accordingly, changes in the fair value of the T-Locks are recorded to AOCI until the consummation of the underlying debt offering, at which time any realized gain (loss) is amortized to earnings over the life of the debt. The net gain or loss recognized in earnings during 2016, 2015 and 2014 was not significant. The Company also, from time to time, enters into interest rate swap agreements that effectively convert the interest rate on certain fixed-rate debt to a variable rate. These swaps call for the Company to receive interest at a fixed rate and to pay interest at a variable rate, thereby creating the equivalent of variable-rate debt. The Company designates these interest rate swap agreements as hedges of the changes in fair value of the underlying debt obligation 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 Company did not have any T-Locks outstanding at December 31, 2016 or 2015. At December 31, 2016 and 2015, AOCI included $4 million of losses (net of income taxes of $2 million) and $5 million of losses (net of income taxes of $2 million), respectively, 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.

In September 2014, the Company entered into 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. The fair value of these interest rate swap agreements was $3 million and $7 million at December 31, 2016 and 2015, respectively, and is reflected in the 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.

Foreign currency hedging: Due to the Company’s global operations, including 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 December 31, 2016, the Company had foreign currency forward sales contracts with an aggregate notional amount of $432 million and foreign currency forward purchase contracts with an aggregate notional amount of $227 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 fair values of these derivative instruments were assets of $5 million and $10 million at December 31, 2016 and 2015, respectively.

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

By using derivative financial instruments to hedge exposures, the Company exposes itself to credit risk and market risk. Credit risk is the risk that the counterparty will fail to perform under the terms of the derivative contract. When the fair value of a derivative contract is positive, the counterparty owes the Company, which creates credit risk for the Company. When the fair value of a derivative contract is negative, the Company owes the counterparty and, therefore, it does not possess credit risk. The Company minimizes the credit risk in derivative instruments by entering into over-the-counter transactions only with investment grade counterparties or by utilizing exchange-traded derivatives. Market risk is the adverse effect on the value of a financial instrument that results from a change in commodity prices, interest rates or foreign exchange rates. The market risk associated with commodity-price, interest rate or foreign exchange contracts is managed by establishing and monitoring parameters that limit the types and degree of market risk that may be undertaken.

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	December 31,		December 31,		Balance Sheet	December 31,		December 31,
(in millions)	Location	2016		2015		Location	2016		2015

Commodity and foreign currency	Accounts receivable-net	$	31	$	18	Accounts payable and accrued liabilities	$	25	$	38

Commodity, foreign currency, and interest rate contracts	Other assets		8		14	Non-current liabilities		2		4

Total		$	39	$	32		$	27	$	42

At December 31, 2016, the Company had outstanding futures and option contracts that hedged the forecasted purchase of approximately 122 million bushels of corn and 41 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 20 million mmbtu’s of natural gas at December 31, 2016. Additionally at December 31, 2016, the Company had outstanding ethanol futures contracts that hedged the forecasted sale of approximately 10 million gallons of ethanol.

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


Derivatives in	Amount of Losses						Location of Losses	Amount of Losses
Cash-Flow	Recognized in OCI						Reclassified from	Reclassified from AOCI into Income
Hedging	Year Ended		Year Ended		Year Ended		AOCI	Year Ended		Year Ended		Year Ended
Relationships	December 31, 2016		December 31, 2015		December 31, 2014		into Income	December 31, 2016		December 31, 2015		December 31, 2014
Commodity and foreign currency contracts	$	(17)	$	(61)	$	(41)	Gross profit	$	(47)	$	(43)	$	(70)

Interest rate contracts				—		—	Financing costs, net		(2)		(3)		(3)
Total	$	(17)	$	(61)	$	(41)		$	(49)	$	(46)	$	(73)

At December 31, 2016, AOCI included approximately $1 million of losses (net of tax), on commodities-related derivative instruments designated as cash-flow hedges that are expected to be reclassified into earnings during the next twelve months. Transactions and events expected to occur over the next twelve months that will necessitate reclassifying these derivative losses to earnings include the sale of finished goods inventory that includes previously hedged purchases of corn, natural gas and ethanol. The Company expects the losses to be offset by changes in the underlying commodities cost. Additionally at December 31, 2016, AOCI included $1 million of losses (net of tax) on settled T-Locks and $1 million of losses (net of tax) related to foreign currency hedges, which are expected to be reclassified into earnings during the next twelve months. Cash-flow hedges discontinued during 2016 or 2015 were not significant.

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


	As of December 31, 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	$	7	$	7	$	—	$	—	$	6	$	6	$	—	$	—
Derivative assets		39		6		33		—		32		2		30		—
Derivative liabilities		27		11		16		—		42		21		21		—
Long-term debt		1,929		—		1,929		—		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 fair value estimates to be made in 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. Presented below are the carrying amounts and the fair values of the Company’s long-term debt at December 31, 2016 and 2015.


	2016				2015
	Carrying		Fair		Carrying		Fair
(in millions)	amount		value		amount		value

3.2% senior notes due October 1, 2026	$	496	$	482	$	—	$	—
4.625% senior notes due November 1, 2020		398		428		398		420
1.8% senior notes due September 25, 2017		299		301		299		300
6.625% senior notes due April 15, 2037		254		299		254		302
6.0% senior notes due April 15, 2017		200		202		200		211
5.62% senior notes due March 25, 2020		200		217		200		218
U.S. revolving credit facility replaced October 2016		—		—		111		111
Term loan repaid September 2016		—		—		350		350
Fair value adjustment related to hedged fixed rate debt instruments		3		—		7		—
Total long-term debt	$	1,850	$	1,929	$	1,819	$	1,912

- 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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Financing Arrangements

12 Months Ended

Dec. 31, 2016

Debt

Financing Arrangements

NOTE 7 – Financing Arrangements

The Company had total debt outstanding of $1.96 billion and $1.84 billion at December 31, 2016 and 2015, respectively. Short-term borrowings at December 31, 2016 and 2015 consist primarily of amounts outstanding under various unsecured local country operating lines of credit.

Short-term borrowings consist of the following at December 31:


(in millions)	2016		2015
Short-term borrowings in various currencies (at rates ranging from 1% to 7% for 2016 and 2% to 6% for 2015)	$	106	$	19

On September 22, 2016, the Company issued 3.2 percent Senior Notes due October 1, 2026 in an aggregate principal amount of $500 million. These notes are unsecured obligations of the Company and rank equally with all of the Company’s other existing and future unsecured, senior indebtedness. Interest on the notes is required to be paid semi-annually in arrears on April 1 and October 1 of each year, commencing April 1, 2017. The Company may redeem these notes at its option, at any time in whole or from time to time in part, at the redemption prices set forth in the supplemental indenture pursuant to which these notes were issued. The net proceeds from the sale of the notes of approximately $497 million were used to repay the $350 million due under the Company’s Term Loan Credit Agreement, plus accrued interest, to repay $52 million of borrowings under the Company’s previously existing $1 billion revolving credit facility and for general corporate purposes.

On October 11, 2016, the Company entered into a new five-year, senior, unsecured $1 billion revolving credit agreement (the “Revolving Credit Agreement”) that replaced our previously existing $1 billion senior unsecured revolving credit facility that would have matured on October 22, 2017.

Subject to certain terms and conditions, the Company may increase the amount of the revolving facility under the Revolving Credit Agreement by up to $500 million in the aggregate. The Company may also obtain up to two one-year extensions of the maturity date of the Revolving Credit Agreement at its requests and subject to the agreement of the lenders. All committed pro rata borrowings under the revolving facility will bear interest at a variable annual rate based on the LIBOR or base rate, at the Company’s election, subject to the terms and conditions thereof, plus, in each case, an applicable margin based on the Company’s leverage ratio (as reported in the financial statements delivered pursuant to the Revolving Credit Agreement) or the Company’s credit rating. Subject to specified conditions, the Company may designate one or more of its subsidiaries as additional borrowers under the Revolving Credit Agreement provided that the Company guarantees all borrowings and other obligations of any such subsidiaries thereunder.

The Revolving Credit Agreement contains customary representations, warranties, covenants, events of default, terms and conditions, including limitations on liens, incurrence of subsidiary debt and mergers. The Company must also comply with a leverage ratio covenant and an interest coverage ratio covenant. The occurrence of an event of default under the Revolving Credit Agreement could result in all loans and other obligations under the agreement being declared due and payable and the revolving credit facility being terminated.

At December 31, 2016, there were no borrowings outstanding under the Revolving Credit Agreement. In addition to borrowing availability under its Revolving Credit Agreement, the Company has approximately $443 million of unused operating lines of credit in the various foreign countries in which it operates.

Long-term debt, net of related discounts, premiums and debt issuance costs consists of the following at December 31:


(in millions)	2016		2015
3.2% senior notes due October 1, 2026	$	496	$	—
4.625% senior notes due November 1, 2020		398		398
1.8% senior notes due September 25, 2017		299		299
6.625% senior notes due April 15, 2037		254		254
6.0% senior notes due April 15, 2017		200		200
5.62% senior notes due March 25, 2020		200		200
U.S. revolving credit facility replaced October 2016		—		111
Term loan repaid September 2016		—		350
Fair value adjustment related to hedged fixed rate debt instrument		3		7
Total	$	1,850	$	1,819
Less: current maturities		—		—
Long-term debt	$	1,850	$	1,819

In the fourth quarter of 2015, the Company early adopted the provisions of ASU No. 2015-03, Interest-Imputation of Interest (Subtopic 835-30), which requires that debt issuance costs associated with a recognized debt liability be presented in the balance sheet as a direct reduction from the carrying amount of that debt in the balance sheet. Accordingly, at December 31, 2016 and 2015, debt issuance costs of $8 million and $5 million, respectively, that otherwise would have been reported as Other assets are classified as reductions of the carrying values of the related debt obligations. Deferred costs associated with the Company’s Revolving Credit Agreement remain in Other assets.

The Company’s long-term debt matures as follows: $500 million in 2017, $600 million in 2020, $500 million in 2026, and $250 million in 2037. The Company’s long-term debt at December 31, 2016 includes $200 million of 6.0 percent Senior Notes that mature on April 15, 2017 and $300 million of 1.8 percent Senior Notes that mature on September 25, 2017. These borrowings are included in long-term debt at December 31, 2016 as the Company had the ability and intent to refinance the notes on a long-term basis prior to the respective maturity dates.

Ingredion Incorporated guarantees certain obligations of its consolidated subsidiaries. The amount of the obligations guaranteed aggregated $121 million and $204 million at December 31, 2016 and 2015, respectively.

Leases

12 Months Ended

Dec. 31, 2016

Leases

Leases

NOTE 8 – Leases

The Company leases rail cars, certain machinery and equipment, and office space under various operating leases. Rental expense under operating leases was $53 million, $52 million and $47 million in 2016, 2015 and 2014, respectively. Minimum lease payments due on non-cancellable leases existing at December 31, 2016 are shown below:


(in millions)
Year	Minimum Lease Payments
2017	$	45
2018		41
2019		36
2020		28
2021		23
Balance thereafter		50

Income Taxes

12 Months Ended

Dec. 31, 2016

Income Taxes

Income Taxes

NOTE 9 – Income Taxes

The components of income before income taxes and the provision for income taxes are shown below:


(in millions)	2016		2015		2014
Income before income taxes:
United States	$	176	$	109	$	83
Foreign		566		490		437
Total	$	742	$	599	$	520
Provision for income taxes:
Current tax expense
US federal	$	95	$	26	$	8
State and local		8		3		1
Foreign		148		164		159
Total current	$	251	$	193	$	168
Deferred tax expense (benefit)
US federal	$	13	$	(8)	$	(16)
State and local		1		(1)		(2)
Foreign		(19)		3		7
Total deferred	$	(5)	$	(6)	$	(11)
Total provision for income taxes	$	246	$	187	$	157

Deferred income taxes are provided for the tax effects of temporary differences between the financial reporting basis and tax basis of assets and liabilities. Significant temporary differences at December 31, 2016, and 2015 are summarized as follows:


(in millions)	2016		2015
Deferred tax assets attributable to:
Employee benefit accruals	$	39	$	34
Pensions and postretirement plans		30		30
Derivative contracts		3		14
Net operating loss carryforwards		18		13
Foreign tax credit carryforwards		4		3
Other		24		38
Gross deferred tax assets	$	118	$	132
Valuation allowance		(21)		(12)
Net deferred tax assets	$	97	$	120
Deferred tax liabilities attributable to:
Property, plant and equipment	$	206	$	193
Identified intangibles		55		59
Gross deferred tax liabilities	$	261	$	252
Net deferred tax liabilities	$	164	$	132

Of the $18 million of tax-effected net operating loss carryforwards at December 31, 2016, approximately $8 million are for state loss carryforwards. Income tax accounting requires that a valuation allowance be established when it is more likely than not that all or a portion of a deferred tax asset will not be realized. In making this assessment, management considers the level of historical taxable income, scheduled reversal of deferred tax liabilities, tax planning strategies, tax carryovers and projected future taxable income. At December 31, 2016, the Company maintains valuation allowances of $8 million for state loss carryforwards, $2 million for state credits and $9 million for foreign loss carryforwards that management has determined will more likely than not expire prior to realization. In addition, the company maintains valuation allowances on foreign subsidiaries net deferred tax assets of $2 million.

A reconciliation of the US federal statutory tax rate to the Company’s effective tax rate follows:


	2016		2015		2014
Provision for tax at US statutory rate	35.00	%	35.00	%	35.00	%
Tax rate difference on foreign income	(5.51)		(5.75)		(6.26)
State and local taxes — net	0.33		0.28		0.13
Nondeductible goodwill impairment — Southern Cone	—		—		2.18
Tax impact of fluctuations in Mexican Pesos to US Dollar	2.40		2.87		1.30
Net tax impact of US foreign tax credits	(2.33)		0.93		(0.31)
Net tax impact of US / Canada settlement	3.17		—		—
Other items — net	0.06		(2.11)		(1.85)
Provision at effective tax rate	33.12	%	31.22	%	30.19	%

The Company has significant operations in Canada, Mexico and Pakistan where the statutory tax rates are 25 percent, 30 percent and 31 percent in 2016, respectively. In addition, the Company's subsidiary in Brazil has a statutory tax rate of 34 percent, before local incentives that vary each year.

The Company uses the US dollar as the functional currency for its subsidiaries in Mexico. Because of the decline in the value of the Mexican peso versus the US dollar in 2016 and 2015, the Mexican tax provision includes increased tax expense of approximately $18 million or 2.4 percentage points on the effective tax rate in 2016, and $17 million or 2.87 percentage points on the effective tax rate in 2015. These impacts are largely associated with foreign currency translation gains for local tax purposes on net US dollar monetary assets held in Mexico for which there is no corresponding gain in pre-tax income.

The Company has been pursuing relief from double taxation under the US and Canadian tax treaty for the years 2004 through 2013. During the fourth quarter of 2016, a tentative agreement was reached between the US and Canada for the specific issues being contested. The Company has established a net reserve of $24 million, or 3.17 percentage points on the effective tax rate in 2016. In addition, as a result of the settlement, for the years 2014-2016, the Company has established a net reserve for $7 million, or 0.97 percentage points, on the effective tax rate in 2016. Of this amount, $4 million pertains to 2016.

During 2015, an audit was settled at a National Starch subsidiary related to a pre-acquisition period for which we are indemnified by Akzo Nobel N.V. (“Akzo”). In the third quarter of 2014, the Company recognized increased tax expense to reserve approximately $7 million ($5 million of tax and $2 million of interest) or 1.3 percentage points in the effective tax rate for the audit. In the third quarter of 2015 the reserve was reduced by approximately $4 million ($3 million of tax and $1 million of interest) which resulted in a decrease of 0.7 percentage points in the 2015 effective tax rate. These impacts are included in the rate reconciliation as “Other”. The $7 million of tax expense and $4 million of reduced tax expense were recorded in the tax provision of the subsidiary, while the reimbursement from Akzo under the indemnity is recorded as other income, which results in no impact in net income for all periods.

Provisions are made for estimated US and foreign income taxes, less credits that may be available, on distributions from foreign subsidiaries to the extent dividends are anticipated. No provision has been made for income taxes on approximately $2.7 billion of undistributed earnings of foreign subsidiaries at December 31, 2016, as such amounts are considered permanently reinvested. It is not practicable to estimate the additional income taxes, including applicable withholding taxes and credits that would be due upon the repatriation of these earnings.

A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties, for 2016 and 2015 is as follows:


(in millions)	2016		2015
Balance at January 1	$	12	$	23
Additions for tax positions related to prior years		72		—
Reductions for tax positions related to prior years		(9)		(10)
Additions based on tax positions related to the current year		12		1
Reductions related to a lapse in the statute of limitations		(1)		(2)
Balance at December 31	$	86	$	12

Of the $86 million of unrecognized tax benefits at December 31, 2016, $29 million represents the amount that, if recognized, could affect the effective tax rate in future periods. The remaining $57 million includes an offset of $52 million for an income tax receivable and $4 million of federal benefit that would be created as part of the Canada and US process described previously.

The Company accounts for interest and penalties related to income tax matters within the provision for income taxes. The Company has accrued $9 million of interest expense related to the unrecognized tax benefits as of December 31, 2016. The accrued interest expense was $4 million as of December 31, 2015.

The Company is subject to US federal income tax as well as income tax in multiple state and non-US jurisdictions. The US federal tax returns are subject to audit for the years 2013 to 2016. In general, the Company’s foreign subsidiaries remain subject to audit for years 2010 and later.

It is also reasonably possible that the total amount of unrecognized tax benefits including interest and penalties will increase or decrease within twelve months of December 31, 2016. The Company has classified $72 million of the unrecognized tax benefits as current because they are expected to be resolved within the next twelve months. Of the $72 million, $26 million represents the amount that if recognized, could affect the effective tax rate in future periods.

Benefit Plans

12 Months Ended

Dec. 31, 2016

Net Periodic Pension and Postretirement Benefit Costs

Benefit plans

NOTE 10 – Benefit Plans

The Company and its subsidiaries sponsor noncontributory defined benefit pension plans (qualified and non-qualified) covering a substantial portion of employees in the United States and Canada, and certain employees in other foreign countries. Plans for most salaried employees provide pay-related benefits based on years of service. Plans for hourly employees generally provide benefits based on flat dollar amounts and years of service. The Company’s general funding policy is to make contributions to the plans in amounts that comply with minimum funding requirements and are within the limits of deductibility under current tax regulations. Certain foreign countries allow income tax deductions without regard to contribution levels, and the Company’s policy in those countries is to make contributions required by the terms of the applicable plan.

Included in the Company’s pension obligation are nonqualified supplemental retirement plans for certain key employees. Benefits provided under these plans are only partially funded, and payments to plan participants are made by the Company.

The Company also provides healthcare and/or life insurance benefits for retired employees in the United States, Canada and Brazil. Healthcare benefits for retirees outside of the United States, Canada, and Brazil are generally covered through local government plans.

On December 31, 2016, the Company merged its existing US qualified pension plans into the Ingredion Incorporated Cash Balance Plan for Salaried Employees. The Ingredion Incorporated Cash Balance Plan for Salaried Employees was renamed the Ingredion Pension Plan (“Combined Plan”). Certain US salaried employees are covered by a component of the Combined Plan which provides benefits based on service credits to the participating employees’ accounts of between 3 percent and 10 percent of base salary, bonus and overtime. On January 1, 2017, the Company amended this component of the Combined Plan to eliminate the service credit percentage increases and freeze them at the January 1, 2017 rate for eligible salaried employees. The amendment also impacted the nonqualified supplemental retirement plans. The plan amendment resulted in a reduction of the benefit obligation of $5 million as of December 31, 2016. The benefit will be recognized over the remaining life of the plan as a prior service cost benefit.

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 in the first quarter. The impact of this plan curtailment on net periodic benefit cost for the year ended December 31, 2015 was not significant. Also during the first quarter of 2015, the Company acquired certain pension and postretirement obligations and related assets as part of the Penford acquisition.

In the fourth quarter of 2014, the Company amended its retiree medical plan in the US for salaried employees. This amendment provided that employees were required to meet certain age and years of service requirements through December 31, 2014 in order to continue to participate in the plan. As such, the number of eligible employees was significantly reduced. Eligible US salaried employees are provided with access to postretirement medical insurance through retirement healthcare spending accounts. US salaried employees accrue an account during employment, which can be used after employment to purchase postretirement medical insurance from the Company prior to age 65 and Medigap or Medicare HMO policies after age 65. The accounts are credited with a flat dollar amount and indexed for inflation annually during employment. These credits ceased after December 31, 2014. The accounts also accrue interest credits using a rate equal to a specified amount above the yield on five-year US Treasury notes. Employees can use the amounts accumulated in these accounts, including credited interest, to purchase postretirement medical insurance. Employees became eligible for benefits when they met minimum age and service requirements. The Company recognizes the cost of these postretirement benefits by accruing a flat dollar amount on an annual basis for each eligible US salaried employee.

Pension Obligation and Funded Status -- The changes in pension benefit obligations and plan assets during 2016 and 2015, as well as the funded status and the amounts recognized in the Company’s Consolidated Balance Sheets related to the Company’s pension plans at December 31, 2016 and 2015, were as follows:


	US Plans				Non-US Plans
(in millions)	2016		2015		2016		2015
Benefit obligation
At January 1	$	359	$	314	$	219	$	267
Service cost		6		8		3		4
Interest cost		14		14		10		12
Benefits paid		(16)		(15)		(15)		(11)
Actuarial loss (gain)		10		(26)		6		(4)
Business combinations / transfers		—		73		—		—
Curtailment / settlement / amendments		(6)		(9)		(5)		(11)
Foreign currency translation		—		—		5		(38)
Benefit obligation at December 31	$	367	$	359	$	223	$	219
Fair value of plan assets
At January 1	$	354	$	313	$	206	$	232
Actual return on plan assets		20		(2)		11		16
Employer contributions		10		11		7		5
Benefits paid		(16)		(15)		(15)		(11)
Plan settlements		—		(9)		(5)		—
Business combinations		—		56		—		—
Foreign currency translation		—		—		7		(36)
Fair value of plan assets at December 31	$	368	$	354	$	211	$	206
Funded status	$	1	$	(5)	$	(12)	$	(13)

Amounts recognized in the Consolidated Balance Sheets as of December 31, 2016 and 2015 were as follows:


	US Plans				Non-US Plans
(in millions)	2016		2015		2016		2015
Non-current asset	$	12	$	18	$	29	$	32
Current liabilities		(1)		(1)		(1)		(3)
Non-current liabilities		(10)		(22)		(40)		(42)
Net asset (liability) recognized	$	1	$	(5)	$	(12)	$	(13)

Amounts recognized in accumulated other comprehensive loss, excluding tax effects, that have not yet been recognized as components of net periodic benefit cost at December 31, 2016 and 2015 were as follows:


	US Plans				Non-US Plans
(in millions)	2016		2015		2016		2015
Net actuarial loss	$	28	$	19	$	52	$	48
Transition obligation		—		—		1		2
Prior service credit		(6)		(2)		(1)		(1)
Net amount recognized	$	22	$	17	$	52	$	49

The increase in the net amount recognized in accumulated comprehensive loss at December 31, 2016 for the US plans and Non-US plans, as compared to December 31, 2015, is largely due to the effect of the decrease in discount rates used to measure the Company’s obligations under its pension plan, with an offset in the US plans for the effect of the service cost amendment to the Combined Plan described above.

The accumulated benefit obligation for all defined benefit pension plans was $555 million and $541 million at December 31, 2016 and 2015, respectively.

Information about plan obligations and assets for plans with an accumulated benefit obligation in excess of plan assets is as follows:


	US Plans				Non-US Plans
(in millions)	2016		2015		2016		2015
Projected benefit obligation	$	11	$	164	$	43	$	47
Accumulated benefit obligation		10		158		36		38
Fair value of plan assets		—		141		2		2

Components of net periodic benefit cost consist of the following for the years ended December 31, 2016, 2015 and 2014:




	US Plans						Non-US Plans
(in millions)	2016		2015		2014		2016		2015		2014
Service cost	$	6	$	8	$	7	$	3	$	4	$	6
Interest cost		14		14		13		10		12		14
Expected return on plan assets		(20)		(24)		(21)		(10)		(13)		(14)
Amortization of actuarial loss		1		1		1		2		3		3
Settlement loss (gain)		—		(1)		—		1		—		—
Net periodic benefit cost	$	1	$	(2)	$	—	$	6	$	6	$	9

For the US plans, the Company estimates that net periodic benefit cost for 2017 will include approximately $1 million relating to the amortization of its accumulated actuarial gain included in accumulated other comprehensive loss at December 31, 2016.

For the non-US plans, the Company estimates that net periodic benefit cost for 2017 will include approximately $2 million relating to the amortization of its accumulated actuarial loss.

Actuarial gains and losses in excess of 10 percent of the greater of the projected benefit obligation or the market-related value of plan assets are recognized as a component of net periodic benefit cost over the average remaining service period of a plan’s active employees for active defined benefit pension plans and over the average remaining life of a plan’s active employees for frozen defined benefit pension plans.

Total amounts recorded in other comprehensive income and net periodic benefit cost during 2016 was as follows:


(in millions, pre-tax)	US Plans		Non-US Plans
Net actuarial loss	$	10	$	6
New prior service cost		(6)		(1)
Amortization of actuarial loss		(1)		(2)
Total recorded in other comprehensive income		3		3
Net periodic benefit cost		1		6
Total recorded in other comprehensive income and net periodic benefit cost	$	4	$	9

The following weighted average assumptions were used to determine the Company’s obligations under the pension plans:


	US Plans				Non-US Plans
	2016		2015		2016		2015
Discount rate	4.30	%	4.54	%	4.34	%	4.57	%
Rate of compensation increase	4.54	%	4.71	%	3.62	%	3.73	%

The following weighted average assumptions were used to determine the Company’s net periodic benefit cost for the pension plans:


	US Plans						Non-US Plans
	2016		2015		2014		2016		2015		2014
Discount rate	4.30	%	4.00	%	4.60	%	4.57	%	4.47	%	5.60	%
Expected long-term return on plan assets	5.75	%	7.00	%	7.25	%	5.41	%	6.48	%	6.82	%
Rate of compensation increase	4.71	%	4.31	%	4.22	%	3.73	%	3.76	%	4.39	%

For 2017 and 2016, the Company has assumed an expected long-term rate of return on assets of 5.75 percent in both years for US plans and approximately 4.76 percent and 5.00 percent for Canadian plans, respectively. In developing the expected long-term rate of return assumption on plan assets, which consist mainly of US and Canadian equity and debt securities, management evaluated historical rates of return achieved on plan assets and the asset allocation of the plans, input from the Company’s independent actuaries and investment consultants, and historical trends in long-term inflation rates. Projected return estimates made by such consultants are based upon broad equity and bond indices. The decrease in expected US and Non-US plan long-term rates of return on assets compared to 2015 is due to the change in our investment approach and related asset allocation in the US and Canada that occurred during 2016 to a liability-driven investment approach. As a result, a higher proportion of investments are in interest-sensitive investments (fixed income) as compared to the prior investment strategy for the US and Canada pension plans.

The discount rate reflects a rate of return on high-quality fixed income investments that match the duration of the expected benefit payments. The Company has typically used returns on long-term, high-quality corporate AA bonds as a benchmark in establishing this assumption. In 2016, we changed the method used to estimate the service and interest cost components of net periodic benefit cost for certain of our defined benefit pension and postretirement benefit plans. Historically, we estimated the service and interest cost components using a single weighted-average discount rate derived from the yield curve used to measure the benefit obligation at the beginning of the period. Beginning in 2016, we have elected to use a full yield curve approach in the estimation of these components of benefit cost by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows.

Plan Assets -- The Company’s investment policy for its pension plans is to balance risk and return through diversified portfolios of fixed income securities, equity instruments, and short-term investments. Maturities for fixed income securities are managed such that sufficient liquidity exists to meet near-term benefit payment obligations. In 2016, the Company changed our investment approach for the US and Canada plans due to the funded nature of the plans to a liability-driven investment approach. As a result, a higher proportion of investments are in interest rate-sensitive investments (fixed income) as compared to the prior investment strategy. For US pension plans, the weighted average target range allocation of assets was 20-40 percent in equities, 57-79 percent in fixed income and 1-3 percent in cash and other short-term investments. The asset allocation is reviewed regularly and portfolio investments are rebalanced to the targeted allocation when considered appropriate.

The Company’s weighted average asset allocation as of December 31, 2016 and 2015 for US and non-US pension plan assets is as follows:


	US Plans				Non-US Plans
Asset Category	2016		2015		2016		2015
Equity securities	38	%	62	%	41	%	49	%
Debt securities	61	%	37	%	44	%	38	%
Cash and other	1	%	1	%	15	%	13	%
Total	100	%	100	%	100	%	100	%

The fair values of the Company’s plan assets at December 31, 2016, by asset category and level in the fair value hierarchy are as follows:


	Fair Value Measurements at December 31, 2016
	Quoted Prices
	in Active
	Markets for		Significant		Significant
	Identical		Observable		Unobservable
Asset Category	Assets		Inputs		Inputs
(in millions)	(Level 1)		(Level 2)		(Level 3)	Total
US Plans:
Equity index:
US (a)			$	70		$	70
International (b)				68			68
Fixed income index:
Long bond (c)				227			227
Cash (d)				3			3
Total US Plans			$	368		$	368
Non-US Plans:
Equity index:
US (a)			$	11		$	11
Canada (e)				21			21
International (b)				49			49
Real estate (f)				5			5
Fixed income index:
Intermediate bond (g)				21			21
Long bond (h)				72			72
Other (i)				23			23
Cash (d)		1		8			9
Total Non-US Plans	$	1	$	210		$	211

(a)

This category consists of both passively and actively managed equity index funds that track the return of large capitalization US equities.

(b)

This category consists of both passively and actively managed equity index funds that track an index of returns on international developed market equities as well as infrastructure assets.

(c)

This category consists of an actively managed fixed income index fund that invests in a diversified portfolio of fixed-income securities with maturities generally exceeding 10 years.

(d)

This category represents cash or cash equivalents.

(e)

This category consists of an actively managed equity index fund that tracks against an index of large capitalization Canadian equities.

(f)

This category consists of an actively managed equity index fund that tracks against real estate investment trusts and real estate operating companies.

(g)

This category consists of both passively and actively managed fixed income index funds that track the return of intermediate duration government and investment grade corporate bonds.

(h)

This category consists of both passively and actively managed fixed income index funds that track the return of Canada government bonds, investment grade corporate bonds and hedge funds.

(i)

This category mainly consists of investment products provided by an insurance company that offers returns that are subject to a minimum guarantee and mutual funds.

All significant pension plan assets are held in collective trusts by the Company’s US and non-US plans. The fair values of shares of collective trusts are based upon the net asset values of the funds reported by the fund managers based on quoted market prices of the underlying securities as of the balance sheet date and are considered to be Level 2 fair value measurements. This may produce a fair value measurement that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Company believes its valuation methods are appropriate and consistent with those of other market participants, the use of different methodologies could result in different fair value measurements at the reporting date.

In 2016, the Company made cash contributions of $10 million and $7 million to its US and non-US pension plans, respectively. The Company anticipates that in 2017 it will make cash contributions of $1 million and $2 million to its US and non-US pension plans, respectively. Cash contributions in subsequent years will depend on a number of factors including the performance of plan assets. The following benefit payments, which reflect anticipated future service, as appropriate, are expected to be made:


(in millions)	US Plans		Non-US Plans
2017	$	19	$	9
2018		19		10
2019		20		10
2020		22		11
2021		23		11
Years 2022 - 2026		123		64

The Company and certain subsidiaries also maintain defined contribution plans. The Company makes matching contributions to these plans that are subject to certain vesting requirements and are based on a percentage of employee contributions. Amounts charged to expense for defined contribution plans totaled $20 million, $17 million and $17 million in 2016, 2015 and 2014, respectively.

Postretirement Benefit Plans -- The Company’s postretirement benefit plans currently are not funded. The information presented below includes plans in the United States, Brazil, and Canada. The changes in the benefit obligations of the plans during 2016 and 2015, and the amounts recognized in the Company’s Consolidated Balance Sheets at December 31, 2016 and 2015, are as follows:


(in millions)	2016		2015
Accumulated postretirement benefit obligation
At January 1	$	64	$	47
Service cost		1		1
Interest cost		2		3
Plan amendment		—		1
Actuarial loss (gain)		2		(1)
Business combinations/ transfers		—		21
Benefits paid		(4)		(3)
Foreign currency translation		2		(5)
At December 31	$	67	$	64
Fair value of plan assets		—		—
Funded status	$	(67)	$	(64)

Amounts recognized in the Consolidated Balance Sheet consist of:


(in millions)	2016		2015
Current liabilities	$	(4)	$	(4)
Non-current liabilities		(63)		(60)
Net liability recognized	$	(67)	$	(64)

Amounts recognized in accumulated other comprehensive (income) loss, excluding tax effects, that have not yet been recognized as components of net periodic benefit cost at December 31, 2016 and 2015 were as follows:


(in millions)	2016		2015
Net actuarial loss	$	7	$	7
Prior service credit		(8)		(11)
Net amount recognized	$	(1)	$	(4)

Components of net periodic benefit cost consisted of the following for the years ended December 31, 2016, 2015 and 2014:




(in millions)	2016		2015		2014
Service cost	$	1	$	1	$	3
Interest cost		2		3		4
Amortization of prior service credit		(2)		(2)		—
Net periodic benefit cost	$	1	$	2	$	7

The Company estimates that postretirement benefit expense for these plans for 2017 will include approximately $3 million relating to the amortization of the prior service credit included in accumulated other comprehensive income at December 31, 2016.

Total amounts recorded in other comprehensive income and net periodic benefit cost during 2016 was as follows:


(in millions, pre-tax)	2016		2015
Net actuarial loss (gain)	$	2	$	(2)
Amortization of prior service credit		2		2
New prior service cost		—		2
Total recorded in other comprehensive income		4		2
Net periodic benefit cost		1		2
Total recorded in other comprehensive income and net periodic benefit cost	$	5	$	4

The following weighted average assumptions were used to determine the Company’s obligations under the postretirement plans:


	2016		2015
Discount rate	5.42	%	5.30	%

The following weighted average assumptions were used to determine the Company’s net postretirement benefit cost:


	2016		2015		2014
Discount rate	5.30	%	5.70	%	6.47	%

The discount rate reflects a rate of return on high-quality fixed-income investments that match the duration of expected benefit payments. The Company has typically used returns on long-term, high-quality corporate AA bonds as a benchmark in establishing this assumption.

The healthcare cost trend rates used in valuing the Company’s postretirement benefit obligations are established based upon actual healthcare trends and consultation with actuaries and benefit providers. The following assumptions were used as of December 31, 2016:


	US		Canada		Brazil
2016 increase in per capita cost	6.90	%	6.90	%	8.66	%
Ultimate trend	4.50	%	4.50	%	8.66	%
Year ultimate trend reached	2037		2031		2016

The sensitivities of service cost and interest cost and year-end benefit obligations to changes in healthcare cost trend rates for the postretirement benefit plans as of December 31, 2016 are as follows:


	2016
One-percentage point increase in trend rates:
- Increase in service cost and interest cost components	$	0.6	million
- Increase in year-end benefit obligations	$	7.0	million

One-percentage point decrease in trend rates:
- Decrease in service cost and interest cost components	$	0.5	million
- Decrease in year-end benefit obligations	$	6.0	million

The following benefit payments, which reflect anticipated future service, as appropriate, are expected to be made under the Company’s postretirement benefit plans:


(in millions)
2017	$	4
2018		4
2019		4
2020		4
2021		4
Years 2022 - 2026	$	24

Multiemployer Plans -- The Company participates in and contributes to one multiemployer benefit plan under the terms of a collective bargaining agreement that covers certain union-represented employees and retirees in the US. The plan covers medical and dental benefits for active hourly employees and retirees represented by the United States Steel Workers Union for certain US locations.

The risks of participating in this multiemployer plan are different from single-employer plans. This plan receives contributions from two or more unrelated employers pursuant to one or more collective bargaining agreements and the assets contributed by one employer may be used to fund the benefits of all employees covered within the plan.

The Company is required to make contributions to this plan as determined by the terms and conditions of the collective bargaining agreements and plan terms. For the years ended December 31, 2016, 2015 and 2014, the Company made regular contributions of $14 million, $12 million and $12 million, respectively, to this multi-employer plan. The Company cannot currently estimate the amount of multiemployer plan contributions that will be required in 2017 and future years, but these contributions could increase due to healthcare cost trends.

Supplementary Information

12 Months Ended

Dec. 31, 2016

Supplementary Information

Supplementary Information

NOTE 11 – Supplementary Information

Balance Sheets


(in millions)	2016		2015
Accounts receivable — net:
Accounts receivable — trade	$	751	$	672
Accounts receivable — other		178		108
Allowance for doubtful accounts		(6)		(5)
Total accounts receivable — net	$	923	$	775
Inventories:
Finished and in process	$	478	$	438
Raw materials		260		229
Manufacturing supplies		51		48
Total inventories	$	789	$	715
Accrued liabilities:
Compensation-related costs	$	107	$	84
Income taxes payable		40		46
Unrecognized tax benefits		72		1
Dividends payable		36		33
Accrued interest		19		14
Taxes payable other than income taxes		36		34
Other		122		88
Total accrued liabilities	$	432	$	300
Non-current liabilities:
Employees’ pension, indemnity and postretirement	$	109	$	142
Other		49		28
Total non-current liabilities	$	158	$	170

Statements of Income


(in millions)	2016		2015		2014
Other income - net:
Gain from sale of plant	$	—	$	10	$	—
Legal settlement		—		(7)		—
Income tax indemnification (expense) income (a)		—		(4)		7
Gain from sale of investment		—		—		5
Gain from sale of idled plant		—		—		3
Other		4		2		9
Other income - net	$	4	$	1	$	24

(a)

Amount fully offset by $4 million of benefit and $7 million of expense recorded in the income tax provision for 2015 and 2014, respectively.


Financing costs-net:
Interest expense, net of amounts capitalized (a)	$	73	$	69	$	73
Interest income		(10)		(14)		(13)
Foreign currency transaction losses		3		6		1
Financing costs-net	$	66	$	61	$	61

(a)

Interest capitalized amounted to $4 million, $2 million and $2 million in 2016, 2015 and 2014, respectively.

Statements of Cash Flow:


(in millions)	2016		2015		2014
Other non-cash charges to net income:
Mechanical stores expense (a)	$	57	$	57	$	56
Share-based compensation expense		28		21		19
Other		16		18		(7)
Total other non-cash charges to net income	$	101	$	96	$	68

(a)

Represents spare parts used in the production process. Such spare parts are recorded in PP&E as part of machinery and equipment until they are utilized in the manufacturing process and expensed as a period cost.


(in millions)	2016		2015		2014
Interest paid	$	59	$	52	$	59
Income taxes paid		254		158		94

Equity

12 Months Ended

Dec. 31, 2016

Equity

Equity

NOTE 12 – Equity

Preferred stock:

The Company has authorized 25 million shares of $0.01 par value preferred stock, none of which were issued or outstanding at December 31, 2016 and 2015.

Treasury stock:

On December 12, 2014, the Board of Directors authorized a new stock repurchase program permitting the Company to purchase up to 5 million of its outstanding common shares from January 1, 2015 through December 12, 2019. The Company’s previously authorized stock repurchase program permitting the purchase of up to 4 million shares has been fully utilized. The parameters of the Company’s stock repurchase program are not established solely with reference to the dilutive impact of shares issued under the Company’s stock incentive plan. However, the Company expects that, over time, share repurchases will offset the dilutive impact of shares issued under the stock incentive plan.

In 2016, the Company had no share repurchases of common shares in open market transactions. In 2015, the Company repurchased 435 thousand common shares in open market transactions at a cost of approximately $34 million.

As part of the previous stock repurchase program, the Company entered into an accelerated share repurchase agreement ("ASR") on July 30, 2014 with an investment bank under which the Company repurchased $300 million of its common stock. The Company paid the $300 million on August 1, 2014 and received an initial delivery of shares from the investment bank of 3,152,502 shares, representing approximately 80 percent of the shares anticipated to be repurchased based on current market prices at that time. The ASR was initially accounted for as an initial stock purchase transaction and a forward stock purchase contract. The initial delivery of shares resulted in an immediate reduction in the number of shares used to calculate the weighted average common shares outstanding for basic and diluted net earnings per share from the effective date of the ASR. On December 29, 2014, the ASR was completed and the Company received 671,823 additional shares of its common stock bringing the total amount of repurchases to 3,824,325 shares, based upon the volume-weighted average price of $78.45 per share over the term of the share repurchase agreement. The ASR was funded through a combination of cash on hand and utilization of the Company’s revolving credit agreement.

Set forth below is a reconciliation of common stock share activity for the years ended December 31, 2016, 2015 and 2014:


(Shares of common stock, in thousands)	Issued	Held in Treasury	Outstanding
Balance at December 31, 2013	77,673	3,361	74,312
Issuance of restricted stock units as compensation	89	(24)	113
Performance shares and other share-based awards	49	(63)	112
Stock options exercised	—	(618)	618
Purchase/acquisition of common stock shares	—	3,833	(3,833)
Balance at December 31, 2014	77,811	6,489	71,322
Issuance of restricted stock units as compensation	—	(102)	102
Performance shares and other share-based awards	—	(75)	75
Stock options exercised	—	(556)	556
Purchase/acquisition of common stock shares	—	439	(439)
Balance at December 31, 2015	77,811	6,195	71,616
Issuance of restricted stock units as compensation	—	(94)	94
Performance shares and other share-based awards	—	(70)	70
Stock options exercised	—	(636)	636
Purchase/acquisition of common stock shares	—	2	(2)
Balance at December 31, 2016	77,811	5,397	72,414

Share-based payments:

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


(in millions)	2016		2015		2014
Stock options:
Pre-tax compensation expense	$	9	$	7	$	7
Income tax (benefit)		(3)		(3)		(3)
Stock option expense, net of income taxes		6		4		4

RSUs:
Pre-tax compensation expense		12		9		8
Income tax (benefit)		(5)		(3)		(3)
RSUs, net of income taxes		7		6		5

Performance shares and other share-based awards:
Pre-tax compensation expense		7		5		4
Income tax (benefit)		(3)		(2)		(1)
Performance shares and other share-based compensation expense, net of income taxes		4		3		3

Total share-based compensation:
Pre-tax compensation expense		28		21		19
Income tax (benefit)		(11)		(8)		(7)
Total share-based compensation expense, net of income taxes	$	17	$	13	$	12

The Company has a stock incentive plan (“SIP”) administered by the compensation committee of its Board of Directors that provides for the granting of stock options, restricted stock, restricted stock units and other share-based awards to certain key employees. A maximum of 8 million shares were originally authorized for awards under the SIP. As of December 31, 2016, 4.5 million shares were available for future grants under the SIP. Shares covered by awards that expire, terminate or lapse will again be available for the grant of awards under the SIP.

Stock Options:

The Company grants nonqualified options to purchase shares of the Company’s common stock. The stock options have a ten-year life and are exercisable upon vesting, which occurs evenly over a three-year period at the anniversary dates of the date of grant. Compensation expense is generally recognized on a straight-line basis for all awards over the employee’s vesting period or over a one-year required service period for certain retirement eligible executive level employees. The Company estimates a forfeiture rate at the time of grant and updates the estimate within the amount of compensation costs recognized in each period. As of December 31, 2016, certain of these nonqualified options have been forfeited due to the termination of employees.

The fair value of stock option awards was estimated at the grant dates using the Black-Scholes option-pricing model with the following assumptions:


	2016		2015		2014
Expected life (in years)	5.5		5.5		5.5
Risk-free interest rate	1.4	%	1.4	%	1.6	%
Expected volatility	23.4	%	25.2	%	30.3	%
Expected dividend yield	1.8	%	2.0	%	2.8	%

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 time of the grant for periods corresponding with the expected life of the options. Expected volatility is based on historical volatilities of the Company’s common stock. Dividend yields are based on historical dividend payments. The weighted average fair value of options granted during 2016, 2015 and 2014 was estimated to be $18.73, $16.04 and $12.99, respectively.

A summary of stock option transactions for the year 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	5.96	$	114
Granted	329		99.96
Exercised	(638)		45.90
Cancelled	(61)		63.96
Outstanding at December 31, 2016	2,281	$	61.39	5.93	$	145
Exercisable at December 31, 2016	1,547	$	50.80	5.70		115

The intrinsic values of stock options exercised during 2016, 2015 and 2014 were approximately $46 million, $27 million and $26 million, respectively. For the years ended December 31, 2016, 2015 and 2014, cash received from the exercise of stock options was $29 million, $21 million and $20 million, respectively. The excess income tax benefit realized from share-based compensation was $12 million, $8 million and $6 million in 2016, 2015 and 2014, respectively. As of December 31, 2016, the unrecognized compensation cost related to non-vested stock options totaled $4 million, which is expected to be amortized over the weighted-average period of approximately 1.3 years.

Restricted Stock Units:

In addition to stock options, the Company awards shares of restricted stock units (“RSUs”) to certain key employees. The RSUs issued under the plan are subject to cliff vesting, generally after three years provided the employee remains in the service of the Company. Compensation expense is generally recognized on a straight-line basis for all awards over the employee’s vesting period or over a one-year required service period for certain retirement eligible executive level employees. The Company estimates a forfeiture rate at the time of grant and updates the estimate within the amount of compensation costs recognized in each period. 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 year:


		Weighted
	Number of	Average
	Restricted	Fair Value
(shares in thousands)	Shares	per Share
Non-vested at December 31, 2015	439	$	69.96
Granted	152		101.21
Vested	(134)		65.83
Cancelled	(28)		79.66
Non-vested at December 31, 2016	429	$	81.04

The total fair value of RSUs that vested in 2016, 2015 and 2014 was $15 million, $13 million and $11 million, respectively.

At December 31, 2016, the total remaining unrecognized compensation cost related to RSUs was $14 million which will be amortized on a weighted-average basis over approximately 1.7 years. Recognized compensation cost related to unvested RSUs is included in share-based payments subject to redemption in the Consolidated Balance Sheets and totaled $21 million and $17 million at December 31, 2016 and 2015, respectively.

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 total shareholder return on the Company’s stock as compared to the total shareholder return on the stock 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.

For the year ended December 31, 2016, the Company awarded 44 thousand performance shares at a weighted average fair value of $131.34. The Company awarded 47 thousand, 58 thousand, and 45 thousand performance shares 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.

The 2013 performance share award vested in February 2016, achieving a 200 percent pay out of the grant, or 90 thousand total vested shares. As of December 31, 2016, the performance awards granted in 2014 and 2015 are estimated to pay out at 200 percent. The 2016 granted performance award is estimated to pay out at 160 percent. There were no share cancellations during the year ended December 31, 2016.

As of December 31, 2016, the unrecognized compensation cost relating to these plans was $3 million, which will be amortized over the remaining requisite service periods of 1.8 years. Recognized compensation cost related to these unvested awards is included in share-based payments subject to redemption in the Consolidated Balance Sheets and totaled $9 million and $7 million at December 31, 2016 and 2015, respectively.

Other share-based awards under the SIP:

Under the compensation agreement with the Board of Directors, $110,000 of a director’s annual retainer and 50 percent of the additional retainers paid to the Lead Director and the Chairmen of committees of the Board of Directors are awarded in shares of common stock or restricted units based on each director’s elections to receive his or her compensation or a portion thereof in the form of restricted units. These restricted units vest immediately, but cannot be transferred until a date not less than six months after the director’s termination of service from the board at which time the restricted units will be settled by delivering shares of common stock. The compensation expense relating to this plan included in the Consolidated Statements of Income was approximately $1 million in 2016, 2015 and 2014. At December 31, 2016, there were approximately 175,000 restricted units outstanding under this plan at a carrying value of approximately $9 million.

Accumulated Other Comprehensive Loss:

A summary of accumulated other comprehensive income (loss) for the years ended December 31, 2014, 2015 and 2016 is presented below:


			Deferred				Unrealized		Accumulated
	Cumulative		Gain/(Loss)		Pension/		Gain (Loss)		Other
	Translation		on Hedging		Postretirement		on		Comprehensive
(in millions)	Adjustment		Activities		Adjustment		Investments		Loss
Balance, December 31, 2013	$	(489)	$	(40)	$	(53)	$	(1)	$	(583)
Losses on cash-flow hedges, net of income tax effect of $12				(29)						(29)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $23				50						50
Actuarial losses on pension and other postretirement obligations, settlements and plan amendments, net of income tax effect of $5						(12)				(12)
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect of $1						4				4
Currency translation adjustment		(212)								(212)
Balance, December 31, 2014	$	(701)	$	(19)	$	(61)	$	(1)	$	(782)
Losses on cash-flow hedges, net of income tax effect of $19				(42)						(42)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $14				32						32
Actuarial gains on pension and other postretirement obligations, settlements and plan amendments, net of income tax effect of $5						13				13
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect						1				1
Currency translation adjustment		(324)								(324)
Balance, December 31, 2015	$	(1,025)	$	(29)	$	(47)	$	(1)	$	(1,102)
Losses on cash-flow hedges, net of income tax effect of $6				(11)						(11)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $16				33						33
Actuarial losses on pension and other postretirement obligations, settlements and plan amendments, net of income tax effect of $4						(10)				(10)
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect						1				1
Unrealized gain on investments, net of income tax effect								1		1
Currency translation adjustment		17								17
Balance, December 31, 2016	$	(1,008)	$	(7)	$	(56)	$	—	$	(1,071)

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


							Affected Line Item in
Details about AOCI Components	Amount Reclassified from AOCI						Consolidated Statements
(in millions)	2016		2015		2014		of Income
Losses on cash-flow hedges:
Commodity and foreign currency contracts	$	(47)	$	(43)	$	(70)	Gross profit
Interest rate contracts		(2)		(3)		(3)	Financing costs, net
Losses related to pension and other postretirement obligations		(1)		(1)		(5)	(a)
Total before-tax reclassifications	$	(50)	$	(47)	$	(78)
Income tax benefit		16		14		24
Total after-tax reclassifications	$	(34)	$	(33)	$	(54)

(a)

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

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


	2016					2015					2014
	Net Income					Net Income					Net Income
	Available		Weighted			Available		Weighted			Available		Weighted
	to Ingredion		Average Shares	Per Share		to Ingredion		Average Shares	Per Share		to Ingredion		Average Shares	Per Share
(in millions, except per share amounts)	(Numerator)		(Denominator)	Amount		(Numerator)		(Denominator)	Amount		(Numerator)		(Denominator)	Amount

Basic EPS	$	484.9	72.3	$	6.70	$	402.2	71.6	$	5.62	$	354.9	73.6	$	4.82

Effect of Dilutive Securities:

Incremental shares from assumed exercise of dilutive stock options and vesting of dilutive RSUs and other awards			1.8					1.4					1.3

Diluted EPS	$	484.9	74.1	$	6.55	$	402.2	73.0	$	5.51	$	354.9	74.9	$	4.74

Segment Information

12 Months Ended

Dec. 31, 2016

Segment Information

Segment Information

NOTE 13 – Segment Information

The Company is principally engaged in the production and sale of starches and sweeteners for a wide range of industries, and is managed geographically on a regional basis. The Company’s operations are classified into four reportable business segments: North America, South America, Asia Pacific and 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.




(in millions)	2016		2015		2014
Net sales to unaffiliated customers:
North America	$	3,447	$	3,345	$	3,093
South America		1,010		1,013		1,203
Asia Pacific		709		733		794
EMEA		538		530		578
Total	$	5,704	$	5,621	$	5,668

Operating income:
North America	$	610	$	479	$	375
South America		89		101		108
Asia Pacific		111		107		103
EMEA (a)		106		93		95
Corporate (b)		(86)		(75)		(65)
Subtotal		830		705		616
Restructuring / impairment charges (c)		(19)		(28)		(33)
Acquisition / integration costs		(3)		(10)		(2)
Charge for fair value markup of acquired inventory		—		(10)		—
Litigation settlement		—		(7)		—
Gain from sale of Canadian plant		—		10		—
Total	$	808	$	660	$	581
Total assets:
North America	$	3,796	$	3,163	$	2,901
South America		809		714		923
Asia Pacific		697		716		711
EMEA		480		481		550
Total	$	5,782	$	5,074	$	5,085
Depreciation and amortization:
North America	$	130	$	123	$	111
South America		26		30		38
Asia Pacific		23		23		26
EMEA		17		18		20
Total	$	196	$	194	$	195
Capital expenditures:
North America	$	167	$	158	$	130
South America		56		61		90
Asia Pacific		41		36		30
EMEA		20		25		26
Total	$	284	$	280	$	276

For 2014, includes a $3 million gain from the sale of an idled plant in Kenya.

For 2015, includes $4 million of expense relating to a tax indemnification agreement with offsetting income of $4 million recorded in the provision for income taxes. For 2014, includes $7 million of income relating to this tax indemnification agreement with an offsetting expense of $7 million recorded in the provision for income taxes (see Note 9).

For 2016, includes $11 million of employee severance-related and other costs associated with the execution of IT outsourcing contracts, $6 million of employee severance-related costs associated with the Company’s optimization initiatives in North America and South America and $2 million of costs attributable to the Port Colborne plant sale. For 2015, includes $12 million of charges for impaired assets and restructuring costs in Brazil, $12 million of restructuring costs associated with the Penford acquisition and $4 million of restructuring costs in Canada. For 2014, includes a $33 million write-off of impaired goodwill in the Southern Cone of South America.

The following table presents net sales to unaffiliated customers by country of origin for the last three years:


	Net Sales
(in millions)	2016		2015		2014
United States	$	2,117	$	1,983	$	1,681
Mexico		955		945		955
Brazil		522		452		591
Canada		375		417		457
Korea		266		276		295
Argentina		201		252		262
Others		1,268		1,296		1,427
Total	$	5,704	$	5,621	$	5,668

The following table presents long-lived assets (excluding intangible assets and deferred income taxes) by country at December 31:


	Long-lived Assets
(in millions)	2016		2015		2014
United States	$	955	$	920	$	803
Mexico		303		292		296
Brazil		245		196		294
Canada		147		126		154
Germany		106		114		133
Thailand		119		111		105
Korea		84		83		88
Argentina		60		64		82
Others		218		200		214
Total	$	2,237	$	2,106	$	2,169

- 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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599

+ Details

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2016
Commitments and Contingencies
Commitments and Contingencies	NOTE 14 – Commitments and Contingencies The Company is a party to a large number of labor claims relating to our Brazilian operations. The Company has reserved an aggregate of approximately $5 million as of December 31, 2016 in respect of these claims. These labor claims primarily relate to dismissals, severance, health and safety, work schedules and salary adjustments. The Company is currently subject to various other claims and suits arising in the ordinary course of business, including certain environmental proceedings and other commercial claims. The Company also routinely receives inquiries from regulators and other government authorities relating to various aspects of its business, including with respect to compliance with laws and regulations relating to the environment, and at any given time, the Company has matters at various stages of resolution with the applicable governmental authorities. The outcomes of these matters are not within the Company’s complete control and may not be known for prolonged periods of time. The Company does not believe that the results of currently known legal proceedings and inquires, even if unfavorable to the Company, will be material to the Company. There can be no assurance, however, that such claims, suits or investigations or those arising in the future, whether taken individually or in the aggregate, will not have a material adverse effect on the Company’s financial condition or results of operations.

Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Data (Unaudited)

Quarterly Financial Data (Unaudited)

Summarized quarterly financial data is as follows:


(in millions, except per share amounts)	1st QTR		2nd QTR		3rd QTR		4th QTR*
2016
Net sales before shipping and handling costs	$	1,434	$	1,533	$	1,569	$	1,484
Less: shipping and handling costs		74		78		80		85
Net sales	$	1,360	$	1,455	$	1,489	$	1,399
Gross profit		339		355		369		339
Net income attributable to Ingredion		130		117		143		94
Basic earnings per common share of Ingredion	$	1.81	$	1.62	$	1.98	$	1.29
Diluted earnings per common share of Ingredion	$	1.77	$	1.58	$	1.93	$	1.26


(in millions, except per share amounts)	1st QTR		2nd QTR		3rd QTR		4th QTR*
2015
Net sales before shipping and handling costs	$	1,410	$	1,536	$	1,524	$	1,489
Less: shipping and handling costs		80		87		87		84
Net sales	$	1,330	$	1,449	$	1,437	$	1,405
Gross profit		281		319		330		313
Net income attributable to Ingredion		84		107		108		104
Basic earnings per common share of Ingredion	$	1.17	$	1.49	$	1.51	$	1.45
Diluted earnings per common share of Ingredion	$	1.15	$	1.47	$	1.48	$	1.42

* Fourth quarter 2016 includes a charge of $27 million ($0.36 per diluted common share) associated with an income tax settlement, acquisition and integration costs of $1.4 million ($0.9 million after-tax, or $0.01 per diluted common share) and restructuring costs of $4.0 million ($2.5 million after-tax, or $0.03 per diluted common share) consisting of employee severance-related costs in North America and employee severance-related and other costs associated with the execution of global IT outsourcing contracts. Fourth quarter 2015 includes a charge of $3.8 million ($2.6 million after-tax, or $0.04 per diluted common share) for restructuring costs in Canada, the United States and Brazil, costs of $0.7 million ($0.6 million after-tax, or $0.01 per diluted common share) associated with the acquisition and integration of Penford and Kerr, costs of $1.8 million ($1.1 million after-tax, or $0.02 per diluted common share) relating to the sale of Kerr inventory that was adjusted to fair value at the acquisition date in accordance with business combination accounting rules, costs of $6.8 million ($4.3 million after-tax, or $0.06 per diluted common share) relating to a litigation settlement and a gain of $9.8 million ($8.9 million after-tax, or $0.12 per diluted common share) from the sale of our Port Colborne, Canada plant.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2016

Summary of Significant Accounting Policies

Basis of presentation

Cash and cash equivalents

Cash and cash equivalents -- Cash equivalents consist of all instruments purchased with an original maturity of three months or less, and which have virtually no risk of loss in value.

Inventories

Inventories -- Inventories are stated at the lower of cost or net realizable value. Costs are predominantly determined using the weighted average method.

Investments

Leases

Property, plant and equipment and depreciation

Goodwill and other intangible assets


	North		South		Asia
(in millions)	America		America		Pacific		EMEA		Total

Balance at December 31, 2013	$	278	$	78	$	97	$	82	$	535
Impairment charges		—		(33)		—		—		(33)
Currency translation		—		(13)		(4)		(7)		(24)
Balance at December 31, 2014	$	278	$	32	$	93	$	75	$	478
Acquisitions		148		—		—		—		148
Disposal		(2)		—		—		—		(2)
Currency translation		—		(10)		(7)		(6)		(23)
Balance at December 31, 2015	$	424	$	22	$	86	$	69	$	601
Acquisitions		186		—		—		—		186
Currency translation		—		4		(1)		(6)		(3)
Balance at December 31, 2016	$	610	$	26	$	85	$	63	$	784

Goodwill before impairment charges	$	425	$	55	$	207	$	69	$	756
Accumulated impairment charges		(1)		(33)		(121)		—		(155)
Balance at December 31, 2015	$	424	$	22	$	86	$	69	$	601

Goodwill before impairment charges	$	611	$	59	$	206	$	63	$	939
Accumulated impairment charges		(1)		(33)		(121)		—		(155)
Balance at December 31, 2016	$	610	$	26	$	85	$	63	$	784

The following table summarizes the Company’s other intangible assets for the periods presented:


	As of December 31, 2016							As of December 31, 2015
							Weighted							Weighted
							Average							Average
							Useful							Useful
			Accumulated				Life			Accumulated				Life
(in millions)	Gross		Amortization		Net		(years)	Gross		Amortization		Net		(years)
Trademarks/tradenames	$	143	$	—	$	143	—	$	144	$	—	$	144	—
Customer relationships		227		(42)		185	20		235		(32)		203	25
Technology		100		(57)		43	10		99		(45)		54	10
TIC Gums intangible assets (preliminary)		117		—		117	Various		—		—		—	—
Other		21		(7)		14	16		14		(5)		9	8
Total other intangible assets	$	608	$	(106)	$	502	17	$	492	$	(82)	$	410	19


(in millions)
Year	Amortization Expense
2017	$	30
2018		29
2019		29
2020		27
2021		18

Revenue recognition

Hedging instruments

Stock-based compensation

Earnings per common share

Risks and uncertainties

Recently adopted accounting standards


(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

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2016

Summary of Significant Accounting Policies

Schedule of carrying amount of goodwill by geographic segment


	North		South		Asia
(in millions)	America		America		Pacific		EMEA		Total

Balance at December 31, 2013	$	278	$	78	$	97	$	82	$	535
Impairment charges		—		(33)		—		—		(33)
Currency translation		—		(13)		(4)		(7)		(24)
Balance at December 31, 2014	$	278	$	32	$	93	$	75	$	478
Acquisitions		148		—		—		—		148
Disposal		(2)		—		—		—		(2)
Currency translation		—		(10)		(7)		(6)		(23)
Balance at December 31, 2015	$	424	$	22	$	86	$	69	$	601
Acquisitions		186		—		—		—		186
Currency translation		—		4		(1)		(6)		(3)
Balance at December 31, 2016	$	610	$	26	$	85	$	63	$	784

Goodwill before impairment charges	$	425	$	55	$	207	$	69	$	756
Accumulated impairment charges		(1)		(33)		(121)		—		(155)
Balance at December 31, 2015	$	424	$	22	$	86	$	69	$	601

Goodwill before impairment charges	$	611	$	59	$	206	$	63	$	939
Accumulated impairment charges		(1)		(33)		(121)		—		(155)
Balance at December 31, 2016	$	610	$	26	$	85	$	63	$	784

Schedule of intangible assets


	As of December 31, 2016							As of December 31, 2015
							Weighted							Weighted
							Average							Average
							Useful							Useful
			Accumulated				Life			Accumulated				Life
(in millions)	Gross		Amortization		Net		(years)	Gross		Amortization		Net		(years)
Trademarks/tradenames	$	143	$	—	$	143	—	$	144	$	—	$	144	—
Customer relationships		227		(42)		185	20		235		(32)		203	25
Technology		100		(57)		43	10		99		(45)		54	10
TIC Gums intangible assets (preliminary)		117		—		117	Various		—		—		—	—
Other		21		(7)		14	16		14		(5)		9	8
Total other intangible assets	$	608	$	(106)	$	502	17	$	492	$	(82)	$	410	19

Schedule of amortization expense related to intangible assets


(in millions)
Year	Amortization Expense
2017	$	30
2018		29
2019		29
2020		27
2021		18

Schedule of new accounting standards


(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

- Definition

Tabular 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
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22580-107794

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Direct Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=66092750

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Indirect Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6515603

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e765-108305

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Accounting Change
-URI http://asc.fasb.org/extlink&oid=6503790

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22499-107794

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22583-107794

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6507316

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
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-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e725-108305

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Retrospective Application
-URI http://asc.fasb.org/extlink&oid=6523989

+ Details

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2016

Acquisitions

Summary of final purchase price allocations for Kerr


		Final		Preliminary
(in millions)		Kerr		TIC Gums
Working capital (excluding cash)	$	37	$	50
Property, plant and equipment		8		42
Other assets		1		—
Identifiable intangible assets		29		117
Goodwill		27		186
Total purchase price	$	102	$	395

Schedule of fair values, valuation techniques and estimated remaining useful life of acquired intangible assets


				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

Restructuring and Impairment Charges (Tables)

12 Months Ended

Dec. 31, 2016

Restructuring Charges [Abstract]

Summary of restructuring reserve

A summary of the Company’s severance accrual at December 31, 2016 is as follows (in millions):


Balance in severance accrual at December 31, 2015	$	10
Restructuring charge for employee severance costs:
IT transformation		6
North America and South America employee-related severance		6
Payments made to terminated employees		(15)
Balance in severance accrual at December 31, 2016	$	7

Financial Instruments, Derivatives and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 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	December 31,		December 31,		Balance Sheet	December 31,		December 31,
(in millions)	Location	2016		2015		Location	2016		2015

Commodity and foreign currency	Accounts receivable-net	$	31	$	18	Accounts payable and accrued liabilities	$	25	$	38

Commodity, foreign currency, and interest rate contracts	Other assets		8		14	Non-current liabilities		2		4

Total		$	39	$	32		$	27	$	42

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


Derivatives in	Amount of Losses						Location of Losses	Amount of Losses
Cash-Flow	Recognized in OCI						Reclassified from	Reclassified from AOCI into Income
Hedging	Year Ended		Year Ended		Year Ended		AOCI	Year Ended		Year Ended		Year Ended
Relationships	December 31, 2016		December 31, 2015		December 31, 2014		into Income	December 31, 2016		December 31, 2015		December 31, 2014
Commodity and foreign currency contracts	$	(17)	$	(61)	$	(41)	Gross profit	$	(47)	$	(43)	$	(70)

Interest rate contracts				—		—	Financing costs, net		(2)		(3)		(3)
Total	$	(17)	$	(61)	$	(41)		$	(49)	$	(46)	$	(73)

Schedule of fair value of financial instruments and derivatives


	As of December 31, 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	$	7	$	7	$	—	$	—	$	6	$	6	$	—	$	—
Derivative assets		39		6		33		—		32		2		30		—
Derivative liabilities		27		11		16		—		42		21		21		—
Long-term debt		1,929		—		1,929		—		1,912		—		1,912		—

Schedule of carrying amounts and fair values of long-term debt


	2016				2015
	Carrying		Fair		Carrying		Fair
(in millions)	amount		value		amount		value

3.2% senior notes due October 1, 2026	$	496	$	482	$	—	$	—
4.625% senior notes due November 1, 2020		398		428		398		420
1.8% senior notes due September 25, 2017		299		301		299		300
6.625% senior notes due April 15, 2037		254		299		254		302
6.0% senior notes due April 15, 2017		200		202		200		211
5.62% senior notes due March 25, 2020		200		217		200		218
U.S. revolving credit facility replaced October 2016		—		—		111		111
Term loan repaid September 2016		—		—		350		350
Fair value adjustment related to hedged fixed rate debt instruments		3		—		7		—
Total long-term debt	$	1,850	$	1,929	$	1,819	$	1,912

Financing Arrangements (Tables)

12 Months Ended

Dec. 31, 2016

Debt

Schedule of short-term borrowings


(in millions)	2016		2015
Short-term borrowings in various currencies (at rates ranging from 1% to 7% for 2016 and 2% to 6% for 2015)	$	106	$	19

Schedule of components of long-term debt


(in millions)	2016		2015
3.2% senior notes due October 1, 2026	$	496	$	—
4.625% senior notes due November 1, 2020		398		398
1.8% senior notes due September 25, 2017		299		299
6.625% senior notes due April 15, 2037		254		254
6.0% senior notes due April 15, 2017		200		200
5.62% senior notes due March 25, 2020		200		200
U.S. revolving credit facility replaced October 2016		—		111
Term loan repaid September 2016		—		350
Fair value adjustment related to hedged fixed rate debt instrument		3		7
Total	$	1,850	$	1,819
Less: current maturities		—		—
Long-term debt	$	1,850	$	1,819

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
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-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
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-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

+ Details

Leases (Tables)

12 Months Ended

Dec. 31, 2016

Leases

Schedule of minimum lease payments due on leases


(in millions)
Year	Minimum Lease Payments
2017	$	45
2018		41
2019		36
2020		28
2021		23
Balance thereafter		50

- Definition

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

+ References + Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Taxes

Schedule of income before income taxes and provision for income taxes


(in millions)	2016		2015		2014
Income before income taxes:
United States	$	176	$	109	$	83
Foreign		566		490		437
Total	$	742	$	599	$	520
Provision for income taxes:
Current tax expense
US federal	$	95	$	26	$	8
State and local		8		3		1
Foreign		148		164		159
Total current	$	251	$	193	$	168
Deferred tax expense (benefit)
US federal	$	13	$	(8)	$	(16)
State and local		1		(1)		(2)
Foreign		(19)		3		7
Total deferred	$	(5)	$	(6)	$	(11)
Total provision for income taxes	$	246	$	187	$	157

Schedule of tax effects of temporary differences between financial reporting basis and tax basis of assets and liabilities


(in millions)	2016		2015
Deferred tax assets attributable to:
Employee benefit accruals	$	39	$	34
Pensions and postretirement plans		30		30
Derivative contracts		3		14
Net operating loss carryforwards		18		13
Foreign tax credit carryforwards		4		3
Other		24		38
Gross deferred tax assets	$	118	$	132
Valuation allowance		(21)		(12)
Net deferred tax assets	$	97	$	120
Deferred tax liabilities attributable to:
Property, plant and equipment	$	206	$	193
Identified intangibles		55		59
Gross deferred tax liabilities	$	261	$	252
Net deferred tax liabilities	$	164	$	132

Schedule of reconciliation of US federal statutory tax rate to effective tax rate


	2016		2015		2014
Provision for tax at US statutory rate	35.00	%	35.00	%	35.00	%
Tax rate difference on foreign income	(5.51)		(5.75)		(6.26)
State and local taxes — net	0.33		0.28		0.13
Nondeductible goodwill impairment — Southern Cone	—		—		2.18
Tax impact of fluctuations in Mexican Pesos to US Dollar	2.40		2.87		1.30
Net tax impact of US foreign tax credits	(2.33)		0.93		(0.31)
Net tax impact of US / Canada settlement	3.17		—		—
Other items — net	0.06		(2.11)		(1.85)
Provision at effective tax rate	33.12	%	31.22	%	30.19	%

Schedule of reconciliation of beginning and ending amount of unrecognized tax benefits, excluding interest and penalties


(in millions)	2016		2015
Balance at January 1	$	12	$	23
Additions for tax positions related to prior years		72		—
Reductions for tax positions related to prior years		(9)		(10)
Additions based on tax positions related to the current year		12		1
Reductions related to a lapse in the statute of limitations		(1)		(2)
Balance at December 31	$	86	$	12

Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2016

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule of funded status


	US Plans				Non-US Plans
(in millions)	2016		2015		2016		2015
Benefit obligation
At January 1	$	359	$	314	$	219	$	267
Service cost		6		8		3		4
Interest cost		14		14		10		12
Benefits paid		(16)		(15)		(15)		(11)
Actuarial loss (gain)		10		(26)		6		(4)
Business combinations / transfers		—		73		—		—
Curtailment / settlement / amendments		(6)		(9)		(5)		(11)
Foreign currency translation		—		—		5		(38)
Benefit obligation at December 31	$	367	$	359	$	223	$	219
Fair value of plan assets
At January 1	$	354	$	313	$	206	$	232
Actual return on plan assets		20		(2)		11		16
Employer contributions		10		11		7		5
Benefits paid		(16)		(15)		(15)		(11)
Plan settlements		—		(9)		(5)		—
Business combinations		—		56		—		—
Foreign currency translation		—		—		7		(36)
Fair value of plan assets at December 31	$	368	$	354	$	211	$	206
Funded status	$	1	$	(5)	$	(12)	$	(13)

Schedule of amounts recognized in the consolidated balance sheets


	US Plans				Non-US Plans
(in millions)	2016		2015		2016		2015
Non-current asset	$	12	$	18	$	29	$	32
Current liabilities		(1)		(1)		(1)		(3)
Non-current liabilities		(10)		(22)		(40)		(42)
Net asset (liability) recognized	$	1	$	(5)	$	(12)	$	(13)

Schedule of amounts recognized in accumulated other comprehensive loss


	US Plans				Non-US Plans
(in millions)	2016		2015		2016		2015
Net actuarial loss	$	28	$	19	$	52	$	48
Transition obligation		—		—		1		2
Prior service credit		(6)		(2)		(1)		(1)
Net amount recognized	$	22	$	17	$	52	$	49

Schedule of plan obligations and assets for plans with an accumulated benefit obligation in excess of plan assets


	US Plans				Non-US Plans
(in millions)	2016		2015		2016		2015
Projected benefit obligation	$	11	$	164	$	43	$	47
Accumulated benefit obligation		10		158		36		38
Fair value of plan assets		—		141		2		2

Components of net periodic benefit cost




	US Plans						Non-US Plans
(in millions)	2016		2015		2014		2016		2015		2014
Service cost	$	6	$	8	$	7	$	3	$	4	$	6
Interest cost		14		14		13		10		12		14
Expected return on plan assets		(20)		(24)		(21)		(10)		(13)		(14)
Amortization of actuarial loss		1		1		1		2		3		3
Settlement loss (gain)		—		(1)		—		1		—		—
Net periodic benefit cost	$	1	$	(2)	$	—	$	6	$	6	$	9

Schedule of amounts recorded in other comprehensive income and net periodic benefit cost


(in millions, pre-tax)	US Plans		Non-US Plans
Net actuarial loss	$	10	$	6
New prior service cost		(6)		(1)
Amortization of actuarial loss		(1)		(2)
Total recorded in other comprehensive income		3		3
Net periodic benefit cost		1		6
Total recorded in other comprehensive income and net periodic benefit cost	$	4	$	9

Schedule of weighted average assumptions used to determine the company's obligations


	US Plans				Non-US Plans
	2016		2015		2016		2015
Discount rate	4.30	%	4.54	%	4.34	%	4.57	%
Rate of compensation increase	4.54	%	4.71	%	3.62	%	3.73	%

Schedule of weighted average assumptions used to determine the company's net periodic benefit cost


	US Plans						Non-US Plans
	2016		2015		2014		2016		2015		2014
Discount rate	4.30	%	4.00	%	4.60	%	4.57	%	4.47	%	5.60	%
Expected long-term return on plan assets	5.75	%	7.00	%	7.25	%	5.41	%	6.48	%	6.82	%
Rate of compensation increase	4.71	%	4.31	%	4.22	%	3.73	%	3.76	%	4.39	%

Schedule of weighted average asset allocation


	US Plans				Non-US Plans
Asset Category	2016		2015		2016		2015
Equity securities	38	%	62	%	41	%	49	%
Debt securities	61	%	37	%	44	%	38	%
Cash and other	1	%	1	%	15	%	13	%
Total	100	%	100	%	100	%	100	%

Schedule of fair values of the company's plan assets, by asset category and level

The fair values of the Company’s plan assets at December 31, 2016, by asset category and level in the fair value hierarchy are as follows:


	Fair Value Measurements at December 31, 2016
	Quoted Prices
	in Active
	Markets for		Significant		Significant
	Identical		Observable		Unobservable
Asset Category	Assets		Inputs		Inputs
(in millions)	(Level 1)		(Level 2)		(Level 3)	Total
US Plans:
Equity index:
US (a)			$	70		$	70
International (b)				68			68
Fixed income index:
Long bond (c)				227			227
Cash (d)				3			3
Total US Plans			$	368		$	368
Non-US Plans:
Equity index:
US (a)			$	11		$	11
Canada (e)				21			21
International (b)				49			49
Real estate (f)				5			5
Fixed income index:
Intermediate bond (g)				21			21
Long bond (h)				72			72
Other (i)				23			23
Cash (d)		1		8			9
Total Non-US Plans	$	1	$	210		$	211

(a)

This category consists of both passively and actively managed equity index funds that track the return of large capitalization US equities.

(b)

This category consists of both passively and actively managed equity index funds that track an index of returns on international developed market equities as well as infrastructure assets.

(c)

This category consists of an actively managed fixed income index fund that invests in a diversified portfolio of fixed-income securities with maturities generally exceeding 10 years.

(d)

This category represents cash or cash equivalents.

(e)

This category consists of an actively managed equity index fund that tracks against an index of large capitalization Canadian equities.

(f)

This category consists of an actively managed equity index fund that tracks against real estate investment trusts and real estate operating companies.

(g)

This category consists of both passively and actively managed fixed income index funds that track the return of intermediate duration government and investment grade corporate bonds.

(h)

This category consists of both passively and actively managed fixed income index funds that track the return of Canada government bonds, investment grade corporate bonds and hedge funds.

This category mainly consists of investment products provided by an insurance company that offers returns that are subject to a minimum guarantee and

Schedule of benefit payments, which reflect anticipated future service, as appropriate and are expected to be made


(in millions)	US Plans		Non-US Plans
2017	$	19	$	9
2018		19		10
2019		20		10
2020		22		11
2021		23		11
Years 2022 - 2026		123		64

Other Postretirement Benefit Plan, Defined Benefit

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule of funded status


(in millions)	2016		2015
Accumulated postretirement benefit obligation
At January 1	$	64	$	47
Service cost		1		1
Interest cost		2		3
Plan amendment		—		1
Actuarial loss (gain)		2		(1)
Business combinations/ transfers		—		21
Benefits paid		(4)		(3)
Foreign currency translation		2		(5)
At December 31	$	67	$	64
Fair value of plan assets		—		—
Funded status	$	(67)	$	(64)

Schedule of amounts recognized in the consolidated balance sheets


(in millions)	2016		2015
Current liabilities	$	(4)	$	(4)
Non-current liabilities		(63)		(60)
Net liability recognized	$	(67)	$	(64)

Schedule of amounts recognized in accumulated other comprehensive loss


(in millions)	2016		2015
Net actuarial loss	$	7	$	7
Prior service credit		(8)		(11)
Net amount recognized	$	(1)	$	(4)

Components of net periodic benefit cost




(in millions)	2016		2015		2014
Service cost	$	1	$	1	$	3
Interest cost		2		3		4
Amortization of prior service credit		(2)		(2)		—
Net periodic benefit cost	$	1	$	2	$	7

Schedule of amounts recorded in other comprehensive income and net periodic benefit cost


(in millions, pre-tax)	2016		2015
Net actuarial loss (gain)	$	2	$	(2)
Amortization of prior service credit		2		2
New prior service cost		—		2
Total recorded in other comprehensive income		4		2
Net periodic benefit cost		1		2
Total recorded in other comprehensive income and net periodic benefit cost	$	5	$	4

Schedule of weighted average assumptions used to determine the company's obligations


	2016		2015
Discount rate	5.42	%	5.30	%

Schedule of weighted average assumptions used to determine the company's net periodic benefit cost


	2016		2015		2014
Discount rate	5.30	%	5.70	%	6.47	%

Schedule of assumptions made in measuring the company's postretirement benefit obligation


	US		Canada		Brazil
2016 increase in per capita cost	6.90	%	6.90	%	8.66	%
Ultimate trend	4.50	%	4.50	%	8.66	%
Year ultimate trend reached	2037		2031		2016

Sensitivity to Trend Assumptions


	2016
One-percentage point increase in trend rates:
- Increase in service cost and interest cost components	$	0.6	million
- Increase in year-end benefit obligations	$	7.0	million

One-percentage point decrease in trend rates:
- Decrease in service cost and interest cost components	$	0.5	million
- Decrease in year-end benefit obligations	$	6.0	million

Schedule of benefit payments, which reflect anticipated future service, as appropriate and are expected to be made


(in millions)
2017	$	4
2018		4
2019		4
2020		4
2021		4
Years 2022 - 2026	$	24

Supplementary Information (Tables)

12 Months Ended

Dec. 31, 2016

Supplementary Information

Balance Sheets - supplementary information


(in millions)	2016		2015
Accounts receivable — net:
Accounts receivable — trade	$	751	$	672
Accounts receivable — other		178		108
Allowance for doubtful accounts		(6)		(5)
Total accounts receivable — net	$	923	$	775
Inventories:
Finished and in process	$	478	$	438
Raw materials		260		229
Manufacturing supplies		51		48
Total inventories	$	789	$	715
Accrued liabilities:
Compensation-related costs	$	107	$	84
Income taxes payable		40		46
Unrecognized tax benefits		72		1
Dividends payable		36		33
Accrued interest		19		14
Taxes payable other than income taxes		36		34
Other		122		88
Total accrued liabilities	$	432	$	300
Non-current liabilities:
Employees’ pension, indemnity and postretirement	$	109	$	142
Other		49		28
Total non-current liabilities	$	158	$	170

Statements of Income - supplementary information


(in millions)	2016		2015		2014
Other income - net:
Gain from sale of plant	$	—	$	10	$	—
Legal settlement		—		(7)		—
Income tax indemnification (expense) income (a)		—		(4)		7
Gain from sale of investment		—		—		5
Gain from sale of idled plant		—		—		3
Other		4		2		9
Other income - net	$	4	$	1	$	24

(a)

Amount fully offset by $4 million of benefit and $7 million of expense recorded in the income tax provision for 2015 and 2014, respectively.


Financing costs-net:
Interest expense, net of amounts capitalized (a)	$	73	$	69	$	73
Interest income		(10)		(14)		(13)
Foreign currency transaction losses		3		6		1
Financing costs-net	$	66	$	61	$	61

(a)

Interest capitalized amounted to $4 million, $2 million and $2 million in 2016, 2015 and 2014, respectively.

Statements of Cash Flow - supplementary information


(in millions)	2016		2015		2014
Other non-cash charges to net income:
Mechanical stores expense (a)	$	57	$	57	$	56
Share-based compensation expense		28		21		19
Other		16		18		(7)
Total other non-cash charges to net income	$	101	$	96	$	68

(a)


(in millions)	2016		2015		2014
Interest paid	$	59	$	52	$	59
Income taxes paid		254		158		94

Equity (Tables)

12 Months Ended

Dec. 31, 2016

Equity

Schedule of reconciliation of common stock share activity


(Shares of common stock, in thousands)	Issued	Held in Treasury	Outstanding
Balance at December 31, 2013	77,673	3,361	74,312
Issuance of restricted stock units as compensation	89	(24)	113
Performance shares and other share-based awards	49	(63)	112
Stock options exercised	—	(618)	618
Purchase/acquisition of common stock shares	—	3,833	(3,833)
Balance at December 31, 2014	77,811	6,489	71,322
Issuance of restricted stock units as compensation	—	(102)	102
Performance shares and other share-based awards	—	(75)	75
Stock options exercised	—	(556)	556
Purchase/acquisition of common stock shares	—	439	(439)
Balance at December 31, 2015	77,811	6,195	71,616
Issuance of restricted stock units as compensation	—	(94)	94
Performance shares and other share-based awards	—	(70)	70
Stock options exercised	—	(636)	636
Purchase/acquisition of common stock shares	—	2	(2)
Balance at December 31, 2016	77,811	5,397	72,414

Schedule of stock based compensation expense


(in millions)	2016		2015		2014
Stock options:
Pre-tax compensation expense	$	9	$	7	$	7
Income tax (benefit)		(3)		(3)		(3)
Stock option expense, net of income taxes		6		4		4

RSUs:
Pre-tax compensation expense		12		9		8
Income tax (benefit)		(5)		(3)		(3)
RSUs, net of income taxes		7		6		5

Performance shares and other share-based awards:
Pre-tax compensation expense		7		5		4
Income tax (benefit)		(3)		(2)		(1)
Performance shares and other share-based compensation expense, net of income taxes		4		3		3

Total share-based compensation:
Pre-tax compensation expense		28		21		19
Income tax (benefit)		(11)		(8)		(7)
Total share-based compensation expense, net of income taxes	$	17	$	13	$	12

Schedule of valuation assumptions for stock options


	2016		2015		2014
Expected life (in years)	5.5		5.5		5.5
Risk-free interest rate	1.4	%	1.4	%	1.6	%
Expected volatility	23.4	%	25.2	%	30.3	%
Expected dividend yield	1.8	%	2.0	%	2.8	%

Schedule of summary of information about outstanding and exercisable stock options, by range of exercise prices


		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	5.96	$	114
Granted	329		99.96
Exercised	(638)		45.90
Cancelled	(61)		63.96
Outstanding at December 31, 2016	2,281	$	61.39	5.93	$	145
Exercisable at December 31, 2016	1,547	$	50.80	5.70		115

Schedule of restricted unit activity


		Weighted
	Number of	Average
	Restricted	Fair Value
(shares in thousands)	Shares	per Share
Non-vested at December 31, 2015	439	$	69.96
Granted	152		101.21
Vested	(134)		65.83
Cancelled	(28)		79.66
Non-vested at December 31, 2016	429	$	81.04

Summary of accumulated other comprehensive loss


			Deferred				Unrealized		Accumulated
	Cumulative		Gain/(Loss)		Pension/		Gain (Loss)		Other
	Translation		on Hedging		Postretirement		on		Comprehensive
(in millions)	Adjustment		Activities		Adjustment		Investments		Loss
Balance, December 31, 2013	$	(489)	$	(40)	$	(53)	$	(1)	$	(583)
Losses on cash-flow hedges, net of income tax effect of $12				(29)						(29)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $23				50						50
Actuarial losses on pension and other postretirement obligations, settlements and plan amendments, net of income tax effect of $5						(12)				(12)
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect of $1						4				4
Currency translation adjustment		(212)								(212)
Balance, December 31, 2014	$	(701)	$	(19)	$	(61)	$	(1)	$	(782)
Losses on cash-flow hedges, net of income tax effect of $19				(42)						(42)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $14				32						32
Actuarial gains on pension and other postretirement obligations, settlements and plan amendments, net of income tax effect of $5						13				13
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect						1				1
Currency translation adjustment		(324)								(324)
Balance, December 31, 2015	$	(1,025)	$	(29)	$	(47)	$	(1)	$	(1,102)
Losses on cash-flow hedges, net of income tax effect of $6				(11)						(11)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $16				33						33
Actuarial losses on pension and other postretirement obligations, settlements and plan amendments, net of income tax effect of $4						(10)				(10)
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect						1				1
Unrealized gain on investments, net of income tax effect								1		1
Currency translation adjustment		17								17
Balance, December 31, 2016	$	(1,008)	$	(7)	$	(56)	$	—	$	(1,071)

Schedule of reclassifications from AOCI into net income


							Affected Line Item in
Details about AOCI Components	Amount Reclassified from AOCI						Consolidated Statements
(in millions)	2016		2015		2014		of Income
Losses on cash-flow hedges:
Commodity and foreign currency contracts	$	(47)	$	(43)	$	(70)	Gross profit
Interest rate contracts		(2)		(3)		(3)	Financing costs, net
Losses related to pension and other postretirement obligations		(1)		(1)		(5)	(a)
Total before-tax reclassifications	$	(50)	$	(47)	$	(78)
Income tax benefit		16		14		24
Total after-tax reclassifications	$	(34)	$	(33)	$	(54)

Schedule of basic and diluted earnings per common share


	2016					2015					2014
	Net Income					Net Income					Net Income
	Available		Weighted			Available		Weighted			Available		Weighted
	to Ingredion		Average Shares	Per Share		to Ingredion		Average Shares	Per Share		to Ingredion		Average Shares	Per Share
(in millions, except per share amounts)	(Numerator)		(Denominator)	Amount		(Numerator)		(Denominator)	Amount		(Numerator)		(Denominator)	Amount

Basic EPS	$	484.9	72.3	$	6.70	$	402.2	71.6	$	5.62	$	354.9	73.6	$	4.82

Effect of Dilutive Securities:

Incremental shares from assumed exercise of dilutive stock options and vesting of dilutive RSUs and other awards			1.8					1.4					1.3

Diluted EPS	$	484.9	74.1	$	6.55	$	402.2	73.0	$	5.51	$	354.9	74.9	$	4.74

Segment Information (Tables)

12 Months Ended

Dec. 31, 2016

Segment Information

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




(in millions)	2016		2015		2014
Net sales to unaffiliated customers:
North America	$	3,447	$	3,345	$	3,093
South America		1,010		1,013		1,203
Asia Pacific		709		733		794
EMEA		538		530		578
Total	$	5,704	$	5,621	$	5,668

Operating income:
North America	$	610	$	479	$	375
South America		89		101		108
Asia Pacific		111		107		103
EMEA (a)		106		93		95
Corporate (b)		(86)		(75)		(65)
Subtotal		830		705		616
Restructuring / impairment charges (c)		(19)		(28)		(33)
Acquisition / integration costs		(3)		(10)		(2)
Charge for fair value markup of acquired inventory		—		(10)		—
Litigation settlement		—		(7)		—
Gain from sale of Canadian plant		—		10		—
Total	$	808	$	660	$	581
Total assets:
North America	$	3,796	$	3,163	$	2,901
South America		809		714		923
Asia Pacific		697		716		711
EMEA		480		481		550
Total	$	5,782	$	5,074	$	5,085
Depreciation and amortization:
North America	$	130	$	123	$	111
South America		26		30		38
Asia Pacific		23		23		26
EMEA		17		18		20
Total	$	196	$	194	$	195
Capital expenditures:
North America	$	167	$	158	$	130
South America		56		61		90
Asia Pacific		41		36		30
EMEA		20		25		26
Total	$	284	$	280	$	276

For 2014, includes a $3 million gain from the sale of an idled plant in Kenya.

Schedule of net sales to unaffiliated customers by country of origin


	Net Sales
(in millions)	2016		2015		2014
United States	$	2,117	$	1,983	$	1,681
Mexico		955		945		955
Brazil		522		452		591
Canada		375		417		457
Korea		266		276		295
Argentina		201		252		262
Others		1,268		1,296		1,427
Total	$	5,704	$	5,621	$	5,668

Schedule of long-lived assets (excluding intangible assets) by country


	Long-lived Assets
(in millions)	2016		2015		2014
United States	$	955	$	920	$	803
Mexico		303		292		296
Brazil		245		196		294
Canada		147		126		154
Germany		106		114		133
Thailand		119		111		105
Korea		84		83		88
Argentina		60		64		82
Others		218		200		214
Total	$	2,237	$	2,106	$	2,169

Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Data (Unaudited)

Schedule of quarterly financial data

Summarized quarterly financial data is as follows:


(in millions, except per share amounts)	1st QTR		2nd QTR		3rd QTR		4th QTR*
2016
Net sales before shipping and handling costs	$	1,434	$	1,533	$	1,569	$	1,484
Less: shipping and handling costs		74		78		80		85
Net sales	$	1,360	$	1,455	$	1,489	$	1,399
Gross profit		339		355		369		339
Net income attributable to Ingredion		130		117		143		94
Basic earnings per common share of Ingredion	$	1.81	$	1.62	$	1.98	$	1.29
Diluted earnings per common share of Ingredion	$	1.77	$	1.58	$	1.93	$	1.26


(in millions, except per share amounts)	1st QTR		2nd QTR		3rd QTR		4th QTR*
2015
Net sales before shipping and handling costs	$	1,410	$	1,536	$	1,524	$	1,489
Less: shipping and handling costs		80		87		87		84
Net sales	$	1,330	$	1,449	$	1,437	$	1,405
Gross profit		281		319		330		313
Net income attributable to Ingredion		84		107		108		104
Basic earnings per common share of Ingredion	$	1.17	$	1.49	$	1.51	$	1.45
Diluted earnings per common share of Ingredion	$	1.15	$	1.47	$	1.48	$	1.42

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Investments
Cost Method Investments	$ 2.0
Proceeds from sale of investment			$ 11.0
Pre-tax gain on sale of investment			5.0
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	784.0	$ 601.0	478.0	$ 535.0
Intangible Assets, Net (Excluding Goodwill)	502.0	410.0
Foreign currency transaction and translation
Cumulative translation loss adjustments	1,000.0	1,000.0
Foreign currency transaction losses	3.0	$ 6.0	$ 1.0
BRAZIL
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 26.0
Building \| Minimum
Property, Plant and Equipment [Line Items]
Useful life	25 years
Building \| Maximum
Property, Plant and Equipment [Line Items]
Useful life	50 years
Other Capitalized Property Plant and Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful life	2 years
Other Capitalized Property Plant and Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful life	25 years

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Carrying amount of goodwill
Balance at the beginning of the period			$ 601	$ 478	$ 535
Impairment charges	$ 0	$ 0			(33)
Currency translation			(3)	(23)	(24)
Acquisitions			186	148
Disposal				(2)
Goodwill before impairment charges	939	756	939	756
Accumulated impairment charges	(155)	(155)	(155)	(155)
Balance at the end of the period	784	601	784	601	478
North America
Carrying amount of goodwill
Balance at the beginning of the period			424	278	278
Acquisitions			186	148
Disposal				(2)
Goodwill before impairment charges	611	425	611	425
Accumulated impairment charges	(1)	(1)	(1)	(1)
Balance at the end of the period	610	424	610	424	278
South America
Carrying amount of goodwill
Balance at the beginning of the period			22	32	78
Impairment charges					(33)
Currency translation			4	(10)	(13)
Goodwill before impairment charges	59	55	59	55
Accumulated impairment charges	(33)	(33)	(33)	(33)
Balance at the end of the period	26	22	26	22	32
Asia Pacific
Carrying amount of goodwill
Balance at the beginning of the period			86	93	97
Currency translation			(1)	(7)	(4)
Goodwill before impairment charges	206	207	206	207
Accumulated impairment charges	(121)	(121)	(121)	(121)
Balance at the end of the period	85	86	85	86	93
EMEA
Carrying amount of goodwill
Balance at the beginning of the period			69	75	82
Currency translation			(6)	(6)	(7)
Goodwill before impairment charges	63	69	63	69
Balance at the end of the period	$ 63	$ 69	$ 63	$ 69	$ 75

Summary of Significant Accounting Policies (Details) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Identifiable intangible assets
Gross	$ 608	$ 492
Accumulated Amortization	(106)	(82)
Net	$ 502	$ 410
Weighted Average Useful Life (years)	17 years	19 years
Amortization expense	$ 25	$ 22	$ 14
Hedging instruments
Maximum term over which the company hedges exposures to the variability of cash flows for commodity price risk	24 months
Earnings per common share
Antidilutive securities excluded from computation of earnings per share amount		0.3	0.1
Expected intangible amortization expense for subsequent years
2017	$ 30
2018	29
2019	29
2020	27
2021	18
Trademarks/tradenames
Identifiable intangible assets
Gross	143	$ 144
Net	143	144
Customer relationships
Identifiable intangible assets
Gross	227	235
Accumulated Amortization	(42)	(32)
Net	$ 185	$ 203
Weighted Average Useful Life (years)	20 years	25 years
Technology
Identifiable intangible assets
Gross	$ 100	$ 99
Accumulated Amortization	(57)	(45)
Net	$ 43	$ 54
Weighted Average Useful Life (years)	10 years	10 years
TIC Gums intangible assets (preliminary)
Identifiable intangible assets
Gross	$ 117
Net	117
Other
Identifiable intangible assets
Gross	21	$ 14
Accumulated Amortization	(7)	(5)
Net	$ 14	$ 9
Weighted Average Useful Life (years)	16 years	8 years

Summary of Significant Accounting Policies (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Consolidated Statements of Income
Provision for income taxes				$ 53					$ 246	$ 187	$ 157
Net income				133					496	412	363
Net income attributable to Ingredion	$ 94	$ 143	$ 117	$ 130	$ 104	$ 108	$ 107	$ 84	$ 485	$ 402	$ 355
Basic earnings per common share of Ingredion (in dollars per share)	$ 1.29	$ 1.98	$ 1.62	$ 1.81	$ 1.45	$ 1.51	$ 1.49	$ 1.17	$ 6.70	$ 5.62	$ 4.82
Diluted earnings per common share of Ingredion (in dollars per share)	$ 1.26	$ 1.93	$ 1.58	$ 1.77	$ 1.42	$ 1.48	$ 1.47	$ 1.15	$ 6.55	$ 5.51	$ 4.74
Basic (in shares)									72.3	71.6	73.6
Diluted (in shares)				73.6					74.1	73.0	74.9
Consolidated Statements of Cash Flows
Cash provided by operating activities				$ 99					$ 771	$ 686	$ 731
Cash provided by financing activities				6						(116)	$ (388)
Consolidated Balance Sheets
Additional paid-in capital				1,151
Retained earnings	$ 2,899			2,650	$ 2,552				2,899	$ 2,552
Accounting Standards Update 2016.09 Excess Tax Benefit
Consolidated Statements of Income
Provision for income taxes									$ (12)
Increase in diluted weighted average common shares outstanding									0.4
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 (in shares)				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

Acquisitions By Acquisition (Details) - USD ($) $ in Millions			3 Months Ended								12 Months Ended
	Dec. 29, 2016	Aug. 03, 2015	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Net sales			$ 1,399	$ 1,489	$ 1,455	$ 1,360	$ 1,405	$ 1,437	$ 1,449	$ 1,330	$ 5,704	$ 5,621	$ 5,668
Final purchase price allocation
Goodwill			$ 784				$ 601				784	601	$ 478	$ 535
Consideration net of cash											$ 407	$ 434
TIC Gums
Final purchase price allocation
Working capital (excluding cash)	$ 50
Property, plant and equipment	42
Identifiable intangible assets	117
Goodwill	186
Total purchase price	395
Consideration net of cash	$ 395
Kerr
Final purchase price allocation
Working capital (excluding cash)		$ 37
Property, plant and equipment		8
Other assets		1
Identifiable intangible assets		29
Goodwill		27
Total purchase price		102
Consideration net of cash		$ 102

Acquisitions By Major Class (Details) - USD ($) $ in Millions			3 Months Ended	12 Months Ended
	Nov. 29, 2016	Aug. 03, 2015	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Other disclosures
Pre-tax acquisition and integration costs			$ 1.4	$ 3.0	$ 10.0	$ 2.0
Kerr
Other disclosures
Tangible assets		$ 8.0
Shandong Huanong
Other disclosures
Cash consideration	$ 12.0
Intangible assets	7.0
Tangible assets	$ 5.0
2016 Acquisition
Other disclosures
Pre-tax acquisition and integration costs				$ 3.0
2015 Acquisition
Other disclosures
Pre-tax acquisition and integration costs					$ 10.0
Fair Value, Inputs, Level 3 \| Kerr \| Customer relationships \| Multi-period excess earnings method
Identifiable intangible assets
Fair Value		$ 24.0
Estimated Remaining Useful Life		15 years
Fair Value, Inputs, Level 3 \| Kerr \| Trade names \| Relief-from-royalty method
Identifiable intangible assets
Fair Value		$ 4.0
Estimated Remaining Useful Life		11 years
Fair Value, Inputs, Level 3 \| Kerr \| Noncompetition Agreements \| Income Approach
Identifiable intangible assets
Fair Value		$ 1.0
Estimated Remaining Useful Life		3 years

Sale of Canadian Plant (Details) - USD ($) $ in Millions		12 Months Ended
Sale of Canadian Plant (Details) - USD ($) $ in Millions	Dec. 15, 2015	Dec. 31, 2016	Dec. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain from sale of Canadian plant			$ 10
Goodwill written-off			2
Restructuring charges		$ 19
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] \| Manufacturing assets in Port Colborne, Ontario, Canada
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration for the sale of assets	$ 35
Gain from sale of Canadian plant	10
Goodwill written-off	$ 2
Restructuring charges		$ 2	$ 4

Restructuring and Impairment Charges (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2016	Dec. 31, 2015
Restructuring and asset impairment charges
Restructuring charges		$ 19
Penford
Restructuring and asset impairment charges
Restructuring charges			$ 12
Restructuring accrual
Restructuring charge for employee severance costs			12
Employee Severance related costs
Restructuring accrual
Balance in severance accrual at December 31, 2015		10
Payments made to terminated employees		(15)
Balance in severance accrual at December 31, 2016		7	10
Employee Severance related costs \| IT transformation
Restructuring accrual
Restructuring charge for employee severance costs		6
Employee Severance related costs \| IT transformation \| Minimum
Restructuring and asset impairment charges
Expected restructuring charges in 2017		1
Employee Severance related costs \| Optimization Initiative Of North And South America
Restructuring accrual
Restructuring charge for employee severance costs		6
Employee Severance related costs \| Port Colborne Ontario Canada Plant
Restructuring accrual
Restructuring charge for employee severance costs			2
Employee Severance And Other Costs \| IT transformation
Restructuring and asset impairment charges
Restructuring charges		11
Facility Closing \| Port Colborne Ontario Canada Plant
Restructuring and asset impairment charges
Restructuring charges			4
Facility Closing \| Plant Closing In Trombudo Central And Conchal
Restructuring and asset impairment charges
Restructuring charges			12
Charges for impaired assets			10
Restructuring accrual
Restructuring charge for employee severance costs			$ 2
Facility Closing \| Port Colborne Ontario Canada Plant
Restructuring and asset impairment charges
Restructuring charges		$ 2
Southern Cone of South America
Restructuring and asset impairment charges
Charges for impaired assets	$ 33

Financial Instruments, Derivatives and Hedging Activities (Details) - USD ($) $ in Millions		12 Months Ended
	Sep. 30, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Financial instruments, derivatives and hedging activities
Accumulated gains (losses) from derivative instruments, net of tax effect		$ 1,071	$ 1,102	$ 782	$ 583
Carrying amount of fair value adjustment related to hedged fixed rate instrument debt instrument		$ 3	7
Senior Notes 4.625 Percent Due November 1, 2020
Financial instruments, derivatives and hedging activities
Debt, face amount	$ 400
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
Treasury Lock
Foreign currency hedging
Derivative notional amount		$ 0	0
Cash Flow Hedging \| Commodity Contract
Financial instruments, derivatives and hedging activities
Accumulated gains (losses) from derivative instruments, net of tax effect			21
Accumulated gains (losses) from derivative instruments, net income tax effect			10
Cash Flow Hedging \| Treasury Lock
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 Hedging \| Interest Rate Swap
Financial instruments, derivatives and hedging activities
Debt, floating rate of interest basis	six-month US dollar LIBOR
Fair Value Hedging \| Interest Rate Swap \| Other Assets
Financial instruments, derivatives and hedging activities
Interest rate swap fair value hedge asset		3	7
Fair Value Hedging \| Interest Rate Swap \| Long Term Debt Balance Sheet Location
Financial instruments, derivatives and hedging activities
Interest rate swap fair value hedge liabilities		3	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
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
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
Fair Value Hedging \| Foreign Exchange Forward
Financial instruments, derivatives and hedging activities
Fair value of assets		5	10
Fair Value Hedging \| Foreign Exchange Forward \| Short
Foreign currency hedging
Derivative notional amount		432	606
Fair Value Hedging \| Foreign Exchange Forward \| Long
Foreign currency hedging
Derivative notional amount		$ 227	$ 287

Financial Instruments, Derivatives and Hedging Activities Balance Sheet Location (Details) lb in Millions, gal in Millions, bu in Millions, MMBTU in Millions, $ in Millions	Dec. 31, 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	122
Soy Bean Oil
Fair value of commodity contracts
Soybean oil futures contract (in pounds) \| lb	41
Natural Gas Commodity
Fair value of commodity contracts
Natural gas futures contract (in mmbtu) \| MMBTU	20
Ethanol Commodity
Fair value of commodity contracts
Futures contract (in bushels for corn and gallons for ethanol) \| gal	10
Designated as Hedging Instrument
Fair value of commodity contracts
Fair value of assets	$ 39	$ 32
Fair value of liabilities	27	42
Designated as Hedging Instrument \| Commodity and Foreign Currency Contracts \| Accounts Receivable, Net
Fair value of commodity contracts
Fair value of assets	31	18
Designated as Hedging Instrument \| Commodity and Foreign Currency Contracts \| Accounts Payable [Member]
Fair value of commodity contracts
Fair value of liabilities	25	38
Designated as Hedging Instrument \| Commodity, foreign currency, and interest rate contracts \| Other Assets
Fair value of commodity contracts
Fair value of assets	8	14
Designated as Hedging Instrument \| Commodity, foreign currency, and interest rate contracts \| Non Current Liabilities
Fair value of commodity contracts
Fair value of liabilities	$ 2	$ 4

Financial Instruments, Derivatives and Hedging Activities Contracts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Gains or losses on derivatives
Amount of Gains (Losses) Recognized in OCI on Derivatives	$ (17)	$ (61)	$ (41)
Amount of Gains (Losses) Reclassified from AOCI into Income	(49)	(46)	(73)
Gross Profit
Gains or losses on derivatives
Amount of Gains (Losses) Reclassified from AOCI into Income	(47)	(43)	(70)
Financing Costs [Member]
Gains or losses on derivatives
Amount of Gains (Losses) Reclassified from AOCI into Income	(2)	(3)	(3)
Commodity and Foreign Currency Contracts
Gains or losses on derivatives
Amount of Gains (Losses) Recognized in OCI on Derivatives	(17)	$ (61)	$ (41)
Cash Flow Hedging \| Commodity Contract
Gains or losses on derivatives
Losses expected to be reclassified into earnings during the next 12 months on commodity hedging contracts, net of tax	1
Cash Flow Hedging \| Treasury Lock
Gains or losses on derivatives
Losses expected to be reclassified into earnings during next twelve months on settled Treasury Lock Agreements, net of tax	1
Cash Flow Hedging \| Foreign Exchange Forward
Gains or losses on derivatives
Losses related to foreign currency hedges expected to be reclassified into earnings during the next twelve months, net of tax	$ 1

Financial Instruments, Derivatives and Hedging Activities Recurring And Nonrecurring (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Fair value of assets and liabilities
Long-term debt	$ 1,929	$ 1,912
Estimate of Fair Value Measurement
Fair value of assets and liabilities
Available for sale securities	7	6
Derivative assets	39	32
Derivative liabilities	27	42
Long-term debt	1,929	1,912
Estimate of Fair Value Measurement \| Fair Value, Inputs, Level 1
Fair value of assets and liabilities
Available for sale securities	7	6
Derivative assets	6	2
Derivative liabilities	11	21
Estimate of Fair Value Measurement \| Fair Value, Inputs, Level 2
Fair value of assets and liabilities
Derivative assets	33	30
Derivative liabilities	16	21
Long-term debt	$ 1,929	$ 1,912

Financial Instruments, Derivatives and Hedging Activities Debt Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2016	Sep. 22, 2016	Dec. 31, 2015
Long-term debt
Carrying amount	$ 1,850		$ 1,819
Long-term debt	1,929		1,912
Carrying amount of fair value adjustment related to hedged fixed rate instrument debt instrument	$ 3		7
Senior Notes 3.20 Percent Due October 1, 2026
Long-term debt
Debt, interest rate (as a percent)	3.20%	3.20%
Carrying amount	$ 496
Long-term debt	$ 482
Senior Notes 4.625 Percent Due November 1, 2020
Long-term debt
Debt, interest rate (as a percent)	4.625%
Carrying amount	$ 398		398
Long-term debt	$ 428		420
Senior Notes 1.8 Percent Due September 25, 2017
Long-term debt
Debt, interest rate (as a percent)	1.80%
Carrying amount	$ 299		299
Long-term debt	$ 301		300
Senior Notes 6.625 Percent Due 2037
Long-term debt
Debt, interest rate (as a percent)	6.625%
Carrying amount	$ 254		254
Long-term debt	$ 299		302
Senior Notes 6.0 Percent Due April 15, 2017
Long-term debt
Debt, interest rate (as a percent)	6.00%
Carrying amount	$ 200		200
Long-term debt	$ 202		211
Senior Notes 5.62 Percent Due March 25, 2020
Long-term debt
Debt, interest rate (as a percent)	5.62%
Carrying amount	$ 200		200
Long-term debt	$ 217		218
US Revolving Credit Facility Replaced October 2016
Long-term debt
Carrying amount			111
Long-term debt			111
Term loan repaid September 2016
Long-term debt
Carrying amount			350
Long-term debt			$ 350

Financing Arrangements (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Short-term borrowings
Short-term borrowings in various currencies (at rates ranging from 1% to 7% for 2016 and 2% to 6% for 2015)	$ 106	$ 19
Debt outstanding	$ 1,960	$ 1,840
Maximum
Short-term borrowings
Short-term borrowings in various currencies, interest rate (as a percent)	7.00%	6.00%
Minimum
Short-term borrowings
Short-term borrowings in various currencies, interest rate (as a percent)	1.00%	2.00%

Financing Arrangements (Details) $ in Millions	12 Months Ended
Financing Arrangements (Details) $ in Millions	Dec. 31, 2016 USD ($)
Domestic Line of Credit
Long-term debt
Additional increase in borrowing capacity of the line of credit available at the entity's option	$ 500
Debt, floating rate of interest basis	LIBOR
Foreign Line of Credit
Long-term debt
Unused operating lines of credit	$ 443

Financing Arrangements (Details) - USD ($)	Oct. 11, 2016	Sep. 22, 2016	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2014
Debt Instrument [Line Items]
Long-term Debt, Total			$ 1,850,000,000	$ 1,819,000,000
Long-term debt			1,850,000,000	1,819,000,000
Line of credit facility, maximum borrowing capacity		$ 1,000,000,000
Debt issuance costs			$ 8,000,000	5,000,000
Senior Notes 3.20 Percent Due October 1, 2026
Debt Instrument [Line Items]
Debt, interest rate (as a percent)		3.20%	3.20%
Aggregate principal Amount		$ 500,000,000
Long-term Debt, Total			$ 496,000,000
Net proceeds from sale of the notes		497,000,000
Term loan repaid September 2016
Debt Instrument [Line Items]
Long-term Debt, Total				350,000,000
Repayments of Long-term Debt		350,000,000
Senior Notes 5.62 Percent Due March 25, 2020
Debt Instrument [Line Items]
Debt, interest rate (as a percent)			5.62%
Long-term Debt, Total			$ 200,000,000	200,000,000
Senior Notes 4.625 Percent Due November 1, 2020
Debt Instrument [Line Items]
Debt, interest rate (as a percent)			4.625%
Aggregate principal Amount					$ 400,000,000
Long-term Debt, Total			$ 398,000,000	398,000,000
Senior Notes 6.625 Percent Due 2037
Debt Instrument [Line Items]
Debt, interest rate (as a percent)			6.625%
Long-term Debt, Total			$ 254,000,000	254,000,000
Senior Notes 1.8 Percent Due September 25, 2017
Debt Instrument [Line Items]
Debt, interest rate (as a percent)			1.80%
Aggregate principal Amount			$ 300,000,000
Long-term Debt, Total			$ 299,000,000	299,000,000
Senior Notes 6.0 Percent Due April 15, 2017
Debt Instrument [Line Items]
Debt, interest rate (as a percent)			6.00%
Aggregate principal Amount			$ 200,000,000
Long-term Debt, Total			200,000,000	200,000,000
Revolving Credit Agreement
Debt Instrument [Line Items]
Payment of borrowings under revolving credit facility		$ 52,000,000
Borrowings outstanding			$ 0
Line of credit facility, maximum borrowing capacity	$ 1,000,000,000
Debt Instrument, Term	5 years
U.S. revolving credit facility replaced October 2016
Debt Instrument [Line Items]
Long-term Debt, Total				$ 111,000,000

Financing Arrangements (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Long-term debt
Fair value adjustment related to hedged fixed rate debt	$ 3	$ 7
Long-term debt	1,850	1,819
Long-term debt maturities
2017	500
2020	600
2026	500
2037	250
Guaranteed obligations of consolidated subsidiaries	$ 121	$ 204

Leases (Details) - USD ($) $ in Millions	12 Months Ended
Leases (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Leases
Rental expense	$ 53	$ 52	$ 47
Minimum lease payments due on leases
2017	45
2018	41
2019	36
2020	28
2021	23
Balance thereafter	$ 50

Income Taxes - Provision for income taxes (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income before income taxes:
United States		$ 176	$ 109	$ 83
Foreign		566	490	437
Income before income taxes		742	599	520
Current tax expense
US federal		95	26	8
State and local		8	3	1
Foreign		148	164	159
Total current		251	193	168
Deferred tax expense (benefit)
US federal		13	(8)	(16)
State and local		1	(1)	(2)
Foreign		(19)	3	7
Total deferred		(5)	(6)	(11)
Total provision for income taxes	$ 53	246	187	$ 157
Deferred tax assets attributable to:
Employee benefit accruals		39	34
Pension and postretirement plans		30	30
Derivative contracts		3	14
Net operating loss carryforwards		18	13
Foreign tax credit carryforwards		4	3
Other		24	38
Gross deferred tax assets		118	132
Valuation allowance		(21)	(12)
Net deferred tax assets		97	120
Deferred tax liabilities attributable to:
Property, plant and equipment		206	193
Identified intangibles		55	59
Gross deferred tax liabilities		261	252
Net deferred tax liabilities		164	$ 132
Valuation allowance on foreign subsidiaries net deferred tax assets		2
State and Local Jurisdiction
Deferred tax assets attributable to:
Net operating loss carryforwards		8
Deferred tax liabilities attributable to:
Loss carryforwards, valuation allowance		8
Credit carryforwards, valuation allowance		2
Foreign Tax Authority
Deferred tax liabilities attributable to:
Loss carryforwards, valuation allowance		$ 9

Income Taxes - Effective tax rate (Details) - USD ($)	3 Months Ended			12 Months Ended
Income Taxes - Effective tax rate (Details) - USD ($)	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of the US federal statutory tax rate to the Company's effective tax rate
Provision for tax at statutory rate (as a percent)				35.00%	35.00%	35.00%
Tax rate difference on foreign income (as a percent)				(5.51%)	(5.75%)	(6.26%)
State and local taxes - net (as a percent)				0.33%	0.28%	0.13%
Nondeductible goodwill impairment - Southern Cone						2.18%
Tax impact of fluctuations in Mexican Pesos to US Dollar				2.40%	2.87%	1.30%
Net tax impact of US foreign tax credits				(2.33%)	0.93%	(0.31%)
Net tax impact of US / Canada settlement				3.17%
Other items - net (as a percent)				0.06%	(2.11%)	(1.85%)
Provision at effective tax rate (as a percent)				33.12%	31.22%	30.19%
Tax impact of change in Mexican Pesos to US Dollars				$ 18,000,000	$ 17,000,000
Pre-tax gain on foreign currency exchange amounts				0	0
Net tax impact of US / Canada settlement				24,000,000
Provision for (reversal of) income taxes	$ 53,000,000			246,000,000	187,000,000	$ 157,000,000
Income tax provision (benefit) that offset income tax indemnification income					4,000,000	7,000,000
Undistributed earnings on foreign subsidiaries tax provision				0
Undistributed earnings of foreign subsidiaries				2,700,000,000
Reconciliation of beginning and ending amount of unrecognized tax benefits excluding interest and penalties
Balance at January 1	$ 12,000,000			12,000,000	23,000,000
Additions for tax positions related to prior years				72,000,000
Reductions for tax positions related to prior years				(9,000,000)	(10,000,000)
Additions based on tax positions related to the current year				12,000,000	1,000,000
Reductions related to a lapse in the statute of limitations				(1,000,000)	(2,000,000)
Balance at December 31				86,000,000	12,000,000	$ 23,000,000
Unrecognized tax benefit that, if recognized, could affect the effective tax rate in future periods				29,000,000
Remaining unrecognized tax benefits				57,000,000
Unrecognized tax benefit, income tax receivable				52,000,000
Unrecognized tax foreign benefit that would be created as part of Canada and US process				4,000,000
Interest expense accrued, net of interest income				9,000,000	$ 4,000,000
Unrecognized tax benefits, current				72,000,000
Unrecognized tax benefit current that, if recognized could affect the effective tax rate in future periods				$ 26,000,000
MEXICO
Reconciliation of the US federal statutory tax rate to the Company's effective tax rate
Provision for tax at statutory rate (as a percent)				30.00%
CANADA
Reconciliation of the US federal statutory tax rate to the Company's effective tax rate
Provision for tax at statutory rate (as a percent)				25.00%
PAKISTAN
Reconciliation of the US federal statutory tax rate to the Company's effective tax rate
Provision for tax at statutory rate (as a percent)				31.00%
BRAZIL
Reconciliation of the US federal statutory tax rate to the Company's effective tax rate
Provision for tax at statutory rate (as a percent)				34.00%
2014-2016
Reconciliation of the US federal statutory tax rate to the Company's effective tax rate
Net tax impact of US / Canada settlement				0.97%
Net tax impact of US / Canada settlement				$ 7,000,000
2016
Reconciliation of the US federal statutory tax rate to the Company's effective tax rate
Net tax impact of US / Canada settlement				$ 4,000,000
Akzo Nobel NV
Reconciliation of the US federal statutory tax rate to the Company's effective tax rate
Income tax provision (benefit) that offset income tax indemnification income		$ (4,000,000)	$ 7,000,000
Pre-acquisition audit result adjustment, tax		(3,000,000)	5,000,000
Pre-acquisition audit result adjustment, interest		$ (1,000,000)	$ 2,000,000
Pre-acquisition audit result adjustment (as a percent)		0.70%	1.30%

Benefit Plans - Detail (Details) $ in Millions	1 Months Ended	2 Months Ended	3 Months Ended	12 Months Ended
Benefit Plans - Detail (Details) $ in Millions	Apr. 30, 2016 USD ($) item	Feb. 22, 2017 USD ($)	Mar. 31, 2015 USD ($) item	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)
Pension Plan, Defined Benefit
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Balance at the beginning of the period		$ 555		$ 541
Balance at the end of the period				555	$ 541
United States Pension Plan of US Entity, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Reduction of benefit obligation				(5)
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Balance at the beginning of the period		367	$ 314	359	314
Service cost				6	8	$ 7
Interest cost				14	14	13
Benefits paid				(16)	(15)
Actuarial loss (gain)				10	(26)
Business Combinations/Transfers					73
Curtailment / settlement / amendments				(6)	(9)
Defined Benefit Plan, Benefit Obligation, Ending Balance				367	359	314
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance at the beginning of the period		$ 368	313	354	313
Actual return on plan assets				20	(2)
Cash contributions to defined benefit pension plan				10	11
Benefits paid				(16)	(15)
Plan settlements					(9)
Business Combinations/Transfers					56
Balance at the end of the period				368	354	313
Funded status				1	(5)
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract]
Non-current asset				12	18
Current liabilities				(1)	(1)
Non-current liabilities				(10)	(22)
Net asset (liability) recognized				1	(5)
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract]
Net actuarial loss				28	19
Prior service cost				(6)	(2)
Net amount recognized				22	17
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets [Abstract]
Projected benefit obligation				11	164
Accumulated benefit obligation				10	158
Fair value of plan assets					141
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost				6	8	7
Interest cost				14	14	13
Expected return on plan assets				(20)	(24)	(21)
Amortization of actuarial loss				1	1	$ 1
Settlement loss (gain)					(1)
Net postretirement benefit cost / Net pension cost (credit)				1	(2)
Amount related to the amortization of the entity's accumulated actuarial loss included in accumulated other comprehensive loss that will be recognized in net pension expense in next fiscal year				1
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract]
Net actuarial loss (gain)				10
Amortization of prior service credit				(6)
Amortization of actuarial loss				(1)
Total recorded in other comprehensive income				3
Net postretirement benefit cost / Net pension cost (credit)				1	$ (2)
Total recorded in other comprehensive income and net periodic benefit cost				$ 4
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate (as a percent)				4.30%	4.54%
Rate of compensation increase (as a percent)				4.54%	4.71%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate (as a percent)				4.30%	4.00%	4.60%
Expected long-term return on plan assets (as a percent)		5.75%		5.75%	7.00%	7.25%
Rate of compensation increase (as a percent)				4.71%	4.31%	4.22%
United States Pension Plan of US Entity, Defined Benefit \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Percent of base salary, bonus and overtime credited to participating employees' accounts by the Company				3.00%
United States Pension Plan of US Entity, Defined Benefit \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Percent of base salary, bonus and overtime credited to participating employees' accounts by the Company				10.00%
Foreign Pension Plan, Defined Benefit
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Balance at the beginning of the period		$ 223	267	$ 219	$ 267
Service cost				3	4	$ 6
Interest cost				10	12	14
Benefits paid				(15)	(11)
Actuarial loss (gain)				6	(4)
Curtailment / settlement / amendments				(5)	(11)
Foreign currency translation				5	(38)
Defined Benefit Plan, Benefit Obligation, Ending Balance				223	219	267
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Balance at the beginning of the period		$ 211	$ 232	206	232
Actual return on plan assets				11	16
Cash contributions to defined benefit pension plan				7	5
Benefits paid				(15)	(11)
Plan settlements				(5)
Foreign currency translation				7	(36)
Balance at the end of the period				211	206	232
Funded status				(12)	(13)
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract]
Non-current asset				29	32
Current liabilities				(1)	(3)
Non-current liabilities				(40)	(42)
Net asset (liability) recognized				(12)	(13)
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract]
Net actuarial loss				52	48
Transition obligation				1	2
Prior service cost				(1)	(1)
Net amount recognized				52	49
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets [Abstract]
Projected benefit obligation				43	47
Accumulated benefit obligation				36	38
Fair value of plan assets				2	2
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service cost				3	4	6
Interest cost				10	12	14
Expected return on plan assets				(10)	(13)	(14)
Amortization of actuarial loss				2	3	3
Settlement loss (gain)				1
Net postretirement benefit cost / Net pension cost (credit)				6	6	9
Amount related to the amortization of the entity's accumulated actuarial loss included in accumulated other comprehensive loss that will be recognized in net pension expense in next fiscal year				(2)
Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) [Abstract]
Net actuarial loss (gain)				6
Amortization of prior service credit				(1)
Amortization of actuarial loss				(2)
Total recorded in other comprehensive income				3
Net postretirement benefit cost / Net pension cost (credit)				6	$ 6	$ 9
Total recorded in other comprehensive income and net periodic benefit cost				$ 9
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate (as a percent)				4.34%	4.57%
Rate of compensation increase (as a percent)				3.62%	3.73%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate (as a percent)				4.57%	4.47%	5.60%
Expected long-term return on plan assets (as a percent)				5.41%	6.48%	6.82%
Rate of compensation increase (as a percent)				3.73%	3.76%	4.39%
Canadian Plans
Defined Benefit Plan Disclosure [Line Items]
Number of plans amended \| item	1		1
Curtailment gain			$ (9)
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Settlement loss (gain)	$ 1
Settlement/curtailment	$ 5
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Expected long-term return on plan assets (as a percent)		4.76%		5.00%
United States Postretirement Benefit Plan of US Entity, Defined Benefit
Defined Benefit Plan Disclosure [Line Items]
Age of employees upon attaining which they can avail benefits accrued during their employment						65 years
Term of treasury notes used to calculate interest on accrued benefits						5 years

Benefit Plans - Future Benefit Payments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Amounts charged to expense
Amounts charged to expense for defined contribution plans	$ 20	$ 17	$ 17
United States Pension Plan of US Entity, Defined Benefit
Plan assets
Weighted average asset allocation (as a percent)	100.00%	100.00%
Fair value of plan assets	$ 368	$ 354	313
Expected contribution in next fiscal year	1
Expected future benefit payments
2017	19
2018	19
2019	20
2020	22
2021	23
Years 2022 - 2026	123
United States Pension Plan of US Entity, Defined Benefit \| US Equity Index Funds
Plan assets
Fair value of plan assets	70
United States Pension Plan of US Entity, Defined Benefit \| International Equity Index Funds
Plan assets
Fair value of plan assets	68
United States Pension Plan of US Entity, Defined Benefit \| Long Duration Fixed Income Index Bonds
Plan assets
Fair value of plan assets	$ 227
United States Pension Plan of US Entity, Defined Benefit \| Cash, Cash Equivalents and Other [Member]
Plan assets
Plan assets minimum allocation percentage	1.00%
Plan assets maximum allocation percentage	3.00%
Weighted average asset allocation (as a percent)	1.00%	1.00%
Fair value of plan assets	$ 3
United States Pension Plan of US Entity, Defined Benefit \| Equity Securities
Plan assets
Plan assets minimum allocation percentage	20.00%
Plan assets maximum allocation percentage	40.00%
Weighted average asset allocation (as a percent)	38.00%	62.00%
United States Pension Plan of US Entity, Defined Benefit \| Debt Securities
Plan assets
Weighted average asset allocation (as a percent)	61.00%	37.00%
United States Pension Plan of US Entity, Defined Benefit \| Fixed Income Securities
Plan assets
Plan assets minimum allocation percentage	57.00%
Plan assets maximum allocation percentage	79.00%
United States Pension Plan of US Entity, Defined Benefit \| Fair Value, Inputs, Level 2
Plan assets
Fair value of plan assets	$ 368
United States Pension Plan of US Entity, Defined Benefit \| Fair Value, Inputs, Level 2 \| US Equity Index Funds
Plan assets
Fair value of plan assets	70
United States Pension Plan of US Entity, Defined Benefit \| Fair Value, Inputs, Level 2 \| International Equity Index Funds
Plan assets
Fair value of plan assets	68
United States Pension Plan of US Entity, Defined Benefit \| Fair Value, Inputs, Level 2 \| Long Duration Fixed Income Index Bonds
Plan assets
Fair value of plan assets	227
United States Pension Plan of US Entity, Defined Benefit \| Fair Value, Inputs, Level 2 \| Cash, Cash Equivalents and Other [Member]
Plan assets
Fair value of plan assets	$ 3
Foreign Pension Plan, Defined Benefit
Plan assets
Weighted average asset allocation (as a percent)	100.00%	100.00%
Fair value of plan assets	$ 211	$ 206	$ 232
Expected contribution in next fiscal year	2
Expected future benefit payments
2017	9
2018	10
2019	10
2020	11
2021	11
Years 2022 - 2026	64
Foreign Pension Plan, Defined Benefit \| US Equity Index Funds
Plan assets
Fair value of plan assets	11
Foreign Pension Plan, Defined Benefit \| Canada Equity Index Funds
Plan assets
Fair value of plan assets	21
Foreign Pension Plan, Defined Benefit \| International Equity Index Funds
Plan assets
Fair value of plan assets	49
Foreign Pension Plan, Defined Benefit \| Real Estate Equity Index Funds
Plan assets
Fair value of plan assets	5
Foreign Pension Plan, Defined Benefit \| Intermediate Fixed Income Index Funds
Plan assets
Fair value of plan assets	21
Foreign Pension Plan, Defined Benefit \| Long Duration Canada Fixed Income Index Bonds
Plan assets
Fair value of plan assets	$ 72
Foreign Pension Plan, Defined Benefit \| Cash, Cash Equivalents and Other [Member]
Plan assets
Weighted average asset allocation (as a percent)	15.00%	13.00%
Amounts charged to expense
Fixed income securities maturity (in years)	10 years
Foreign Pension Plan, Defined Benefit \| Cash and Cash Equivalents
Plan assets
Fair value of plan assets	$ 9
Foreign Pension Plan, Defined Benefit \| Equity Securities
Plan assets
Weighted average asset allocation (as a percent)	41.00%	49.00%
Foreign Pension Plan, Defined Benefit \| Debt Securities
Plan assets
Weighted average asset allocation (as a percent)	44.00%	38.00%
Foreign Pension Plan, Defined Benefit \| Other Plan Assets
Plan assets
Fair value of plan assets	$ 23
Foreign Pension Plan, Defined Benefit \| Fair Value, Inputs, Level 1
Plan assets
Fair value of plan assets	1
Foreign Pension Plan, Defined Benefit \| Fair Value, Inputs, Level 1 \| Cash and Cash Equivalents
Plan assets
Fair value of plan assets	1
Foreign Pension Plan, Defined Benefit \| Fair Value, Inputs, Level 2
Plan assets
Fair value of plan assets	210
Foreign Pension Plan, Defined Benefit \| Fair Value, Inputs, Level 2 \| US Equity Index Funds
Plan assets
Fair value of plan assets	11
Foreign Pension Plan, Defined Benefit \| Fair Value, Inputs, Level 2 \| Canada Equity Index Funds
Plan assets
Fair value of plan assets	21
Foreign Pension Plan, Defined Benefit \| Fair Value, Inputs, Level 2 \| International Equity Index Funds
Plan assets
Fair value of plan assets	49
Foreign Pension Plan, Defined Benefit \| Fair Value, Inputs, Level 2 \| Real Estate Equity Index Funds
Plan assets
Fair value of plan assets	5
Foreign Pension Plan, Defined Benefit \| Fair Value, Inputs, Level 2 \| Intermediate Fixed Income Index Funds
Plan assets
Fair value of plan assets	21
Foreign Pension Plan, Defined Benefit \| Fair Value, Inputs, Level 2 \| Long Duration Canada Fixed Income Index Bonds
Plan assets
Fair value of plan assets	72
Foreign Pension Plan, Defined Benefit \| Fair Value, Inputs, Level 2 \| Cash and Cash Equivalents
Plan assets
Fair value of plan assets	8
Foreign Pension Plan, Defined Benefit \| Fair Value, Inputs, Level 2 \| Other Plan Assets
Plan assets
Fair value of plan assets	$ 23

Benefit Plans (Details) $ in Millions	12 Months Ended
Benefit Plans (Details) $ in Millions	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2016 USD ($) item	Dec. 31, 2015 USD ($)
Multiemployer Plans
Multiemployer benefit plan that company contributes to \| item				1
Multiemployer Plan contributions	$ 14.0	$ 12.0	$ 12.0
Other Postretirement Benefit Plan, Defined Benefit
Benefit obligation
Balance at the beginning of the period	64.0	47.0
Service cost	1.0	1.0	3.0
Interest cost	2.0	3.0	4.0
Plan amendment					$ 1.0
Actuarial loss (gain)	2.0	(1.0)
Business Combinations/Transfers		21.0
Benefits paid	(4.0)	(3.0)
Foreign currency translation	2.0	(5.0)
Defined Benefit Plan, Benefit Obligation	64.0	47.0	47.0	$ 67.0	64.0
Funded status				(67.0)	(64.0)
Amounts recognized in the Consolidated Balance Sheets
Current liabilities				(4.0)	(4.0)
Non-current liabilities				(63.0)	(60.0)
Net asset (liability) recognized				(67.0)	(64.0)
Amounts recognized in Accumulated Other Comprehensive Loss, excluding tax effects, that have not yet been recognized as components of net periodic benefit cost
Net actuarial loss				7.0	7.0
Prior service cost				(8.0)	(11.0)
Net amount recognized				$ (1.0)	$ (4.0)
Components of Net Periodic Benefit Cost
Service cost	1.0	1.0	3.0
Interest cost	2.0	3.0	4.0
Amortization of prior service credit	2.0	2.0
Net postretirement benefit cost / Net pension cost (credit)	1.0	2.0	7.0
Total recorded in other comprehensive income and net periodic benefit cost	5.0	4.0
Amount related to the amortization of prior service cost included in accumulated other comprehensive loss that will be recognized in net pension expense in next fiscal year	(3.0)
Amounts recorded in other comprehensive income and net periodic benefit cost
Net actuarial loss (gain)	2.0	(2.0)
Amortization of prior service credit	2.0	2.0
New prior service cost		2.0
Total recorded in other comprehensive income	4.0	2.0
Net periodic benefit cost	$ 1.0	2.0	$ 7.0
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost (Credit) Arising During Period, before Tax		$ (2.0)
Weighted average assumptions used to determine the company's obligations
Discount rate (as a percent)				5.42%	5.30%
Weighted average assumptions used to determine the company's net periodic benefit cost
Discount rate (as a percent)	5.30%	5.70%	6.47%
Sensitivity to Trend Assumptions
One-percentage point increase, effect on service cost and interest cost components	$ 0.6
One-percentage point increase, effect on year-end benefit obligations	7.0
One-percentage point decrease, effect on service cost and interest cost components	(0.5)
One-percentage point decrease, effect on year-end benefit obligations	$ (6.0)
Expected future benefit payments
2017				$ 4.0
2018				4.0
2019				4.0
2020				4.0
2021				4.0
Years 2022 - 2026				$ 24.0
United States Postretirement Benefit Plan of US Entity, Defined Benefit
Assumptions used in measuring benefit obligation
2015 increase in per capita cost (as a percent)				6.90%
Ultimate trend (as a percent)	4.50%
Canada Postretirement Benefit Plans of US Entity, Defined Benefit
Assumptions used in measuring benefit obligation
2015 increase in per capita cost (as a percent)				6.90%
Ultimate trend (as a percent)	4.50%
Brazil Postretirement Benefit Plans of US Entity, Defined Benefit
Assumptions used in measuring benefit obligation
2015 increase in per capita cost (as a percent)				8.66%
Ultimate trend (as a percent)	8.66%

Supplementary Information - Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Accounts receivable net:
Accounts receivable trade	$ 751	$ 672
Accounts receivable other	178	108
Allowance for doubtful accounts	(6)	(5)
Total accounts receivable — net	923	775
Inventories:
Finished and in process	478	438
Raw materials	260	229
Manufacturing supplies and other	51	48
Total inventories	789	715
Accrued liabilities:
Compensation-related costs	107	84
Income taxes payable	40	46
Unrecognized tax benefits	72	1
Dividends payable	36	33
Accrued interest	19	14
Taxes payable other than income taxes	36	34
Other	122	88
Total accrued liabilities	432	300
Non-current liabilities:
Employees pension, indemnity and postretirement	109	142
Other	49	28
Total non-current liabilities	$ 158	$ 170

Supplementary Information - Statements of Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Other income -net:
Gain on sale of plant		$ 10
Litigation settlement		(7)
Income tax indemnification (expense) income		(4)	$ 7
Gain from sale of investment			5
Gain from sale of idled plant			3
Other	$ 4	2	9
Other income - net	4	1	24
Financing costs-net:
Interest expense, net of amounts capitalized	73	69	73
Interest income	(10)	(14)	(13)
Foreign currency transaction losses	3	6	1
Financing Costs, Net	66	61	61
Interest capitalized	$ 4	$ 2	$ 2

Supplementary Information - Statements of Cash Flow (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Supplementary Cash Flow Information
Mechanical stores expense	$ 57	$ 57	$ 56
Share-based compensation expense	28	21	19
Other	16	18	(7)
Total other non-cash charges to net income	101	96	68
Interest paid	59	52	59
Income taxes paid	$ 254	$ 158	$ 94

Equity (Details) - USD ($) $ / shares in Units, $ in Millions				12 Months Ended
	Dec. 29, 2014	Aug. 01, 2014	Jul. 30, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 12, 2014
Preferred stock:
Preferred stock, authorized shares				25,000,000	25,000,000
Preferred stock, par value (in dollars per share)				$ 0.01	$ 0.01
Preferred Stock, Shares Issued				0	0
Preferred stock, outstanding shares				0	0
Treasury stock:
Delivery of shares				0	435,000
Cost to repurchase common shares					$ 34
Payment made for repurchase of shares				$ 8	$ 41	$ 304
Stock Repurchase 2014 Program
Treasury stock:
Shares authorized to be repurchased							5,000,000
Stock Repurchase 2013 Program
Treasury stock:
Shares authorized to be repurchased				4,000,000
July 30 2014 Accelerated Share Repurchase Agreement \| Share Repurchase Program
Treasury stock:
Delivery of shares	671,823	3,152,502				3,824,325
Average purchase prices of treasury stock (in dollars per share) repurchased from employees under the stock incentive plan and the cancellation of restricted stock						$ 78.45
Treasury Stock, Value, Acquired, Cost Method			$ 300
Payment made for repurchase of shares		$ 300
Percentage of repurchase shares received		80.00%

Equity (Details) - USD ($) $ in Millions	12 Months Ended
Equity (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Increase (decrease) in common stock, number of shares
Purchase/acquisition of common stock shares	0	435,000
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]
Pre-tax compensation expense	$ 28	$ 21	$ 19
Income tax (benefit)	(11)	(8)	(7)
Total share-based compensation expense, net of income taxes	$ 17	$ 13	$ 12
Common Stock Issued
Increase (decrease) in common stock, number of shares
Issuance of restricted stock units as compensation			89,000
Performance shares and other share-based awards			49,000
Treasury Stock
Increase (decrease) in common stock, number of shares
Issuance of restricted stock units as compensation	(94,000)	(102,000)	(24,000)
Performance shares and other share-based awards	(70,000)	(75,000)	(63,000)
Stock options exercised	(636,000)	(556,000)	(618,000)
Purchase/acquisition of common stock shares	2,000	439,000	3,833,000
Common Stock Shares Outstanding
Increase (decrease) in common stock, number of shares
Issuance of restricted stock units as compensation	94,000	102,000	113,000
Performance shares and other share-based awards	70,000	75,000	112,000
Stock options exercised	636,000	556,000	618,000
Purchase/acquisition of common stock shares	2,000	439,000	3,833,000
Employee Stock Option
Increase (decrease) in common stock, number of shares
Stock options exercised	638,000
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]
Pre-tax compensation expense	$ 9	$ 7	$ 7
Income tax (benefit)	(3)	(3)	(3)
Total share-based compensation expense, net of income taxes	6	4	4
Restricted Stock Units (RSUs)
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]
Pre-tax compensation expense	12	9	8
Income tax (benefit)	(5)	(3)	(3)
Total share-based compensation expense, net of income taxes	7	6	5
Performance shares and other share-based awards
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]
Pre-tax compensation expense	7	5	4
Income tax (benefit)	(3)	(2)	(1)
Total share-based compensation expense, net of income taxes	$ 4	$ 3	$ 3

Equity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions			3 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares Authorized Under Stock Incentive Plan	8,000			8,000
Shares available for future grants under Stock Incentive Plan	4,500			4,500
Total share-based compensation expense included in net income				$ 28	$ 21	$ 19
Income tax (benefit)				11	8	7
Share Based Compensation Arrangement by Share Based Payment Award, Stock Options, Additional Disclosures [Abstract]
Excess tax benefit on share-based compensation					8	6
Adjustments for new accounting pronouncements
Provision for income taxes			$ (53)	(246)	(187)	(157)
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense included in net income				9	7	7
Income tax (benefit)				$ 3	$ 3	$ 3
Term of options				10 years
Required service period				1 year
Period of vesting				3 years
Weighted average fair value of the shares granted				$ 18.73	$ 16.04	$ 12.99
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected life				5 years 6 months	5 years 6 months	5 years 6 months
Risk-free interest rate (as a percent)				1.40%	1.40%	1.60%
Expected volatility (as a percent)				23.40%	25.20%	30.30%
Expected dividend yield (as a percent)				1.80%	2.00%	2.80%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at the beginning of the period (in shares)			2,651	2,651
Granted (in shares)				329
Exercised (in shares)				(638)
Cancelled (in shares)				(61)
Outstanding at the end of the period (in shares)	2,281	2,651		2,281	2,651
Exercisable at the end of the period (in shares)	1,547			1,547
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Outstanding at the beginning of the period (in dollars per share)			$ 52.93	$ 52.93
Granted (in dollars per share)				99.96
Exercised (in dollars per share)				45.90
Cancelled (in dollars per share)				63.96
Outstanding at the end of the period (in dollars per share)	$ 61.39	$ 52.93		61.39	$ 52.93
Exercisable at the end of the period (in dollars per share)	$ 50.80			$ 50.80
Share Based Compensation Arrangement by Share Based Payment Award, Stock Options, Additional Disclosures [Abstract]
Options outstanding average remaining contractual life	5 years 11 months 5 days	5 years 11 months 16 days
Total intrinsic value of stock options exercised				$ 46	$ 27	$ 26
Stock options exercisable average remaining contractual life	5 years 8 months 12 days
Options outstanding aggregate intrinsic value	$ 145	$ 114		145	114
Stock options exercisable aggregate intrinsic value	115			115
Cash received from exercise of stock options				29	$ 21	$ 20
Unrecognized compensation cost	$ 4			$ 4
Weighted-average period for amortization of unrecognized compensation cost				1 year 3 months 18 days
Accounting Standards Update 2016.09 Excess Tax Benefit
Adjustments for new accounting pronouncements
Provision for income taxes				$ 12

Equity (Details) - USD ($) $ / shares in Units, $ in Millions		6 Months Ended	12 Months Ended
	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other disclosures
Total share-based compensation expense included in net income			$ 28	$ 21	$ 19
Share-based payments subject to redemption	$ 30		$ 30	$ 24
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-vested at the beginning of the period (in shares)		439,000	439,000
Granted (in shares)			152,000
Vested (in shares)			(134,000)
Cancelled (in shares)			(28,000)
Non-vested at the end of the period (in shares)	429,000		429,000	439,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Non-vested at the beginning of the period (in dollars per share)		$ 69.96	$ 69.96
Granted (in dollars per share)			101.21
Vested (in dollars per share)			65.83
Cancelled (in dollars per share)			79.66
Non-vested at the end of the period (in dollars per share)	$ 81.04		$ 81.04	$ 69.96
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting terms			3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Fair value of awards vested during the year			$ 15	$ 13	11
Unrecognized compensation cost	$ 14		$ 14
Weighted-average period for amortization of unrecognized compensation cost			1 year 8 months 12 days
Other disclosures
Total share-based compensation expense included in net income			$ 12	9	8
Compensation cost related to unvested restricted share and restricted stock units and performance shares included in share-based payments subject to redemption on the Balance Sheet	$ 21		$ 21	17
Restricted Stock Units (RSUs) \| Compensation Arrangement \| Director
Other disclosures
Awards outstanding (in shares)	175,000		175,000
Carrying value of share units outstanding	$ 9		$ 9
Total share-based compensation expense included in net income			$ 1	$ 1	$ 1
Performance Shares award \| Long Term Incentive Plan \| Senior Management
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting terms			3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted (in shares)			44,000	47,000	58,000	45,000
Vested (in shares)		(90,000)
Cancelled (in shares)			0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Granted (in dollars per share)			$ 131.34	$ 77.54	$ 52.03	$ 67.19
Unrecognized compensation cost	$ 3		$ 3
Award payout achieved (as a percent)		200.00%
Remaining requisite service period (in years)	1 year 9 months 18 days
Other disclosures
Performance shares calculation period (in years)			3 years
Compensation cost related to unvested restricted share and restricted stock units and performance shares included in share-based payments subject to redemption on the Balance Sheet	$ 9		$ 9	$ 7
Performance Shares award \| Long Term Incentive Plan \| Senior Management \| Minimum
Other disclosures
Performance shares available for vesting (as a percent)			0.00%
Performance Shares award \| Long Term Incentive Plan \| Senior Management \| Maximum
Other disclosures
Performance shares available for vesting (as a percent)			200.00%
Performance Shares Award Granted In 2016 \| Long Term Incentive Plan \| Senior Management
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Award payout achieved (as a percent)			160.00%
Performance shares award granted in 2014 and 2015 \| Long Term Incentive Plan \| Senior Management
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures [Abstract]
Award payout achieved (as a percent)	200.00%

Equity (Details) - USD ($) $ in Millions	12 Months Ended
Equity (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at the beginning of the period	$ (1,102)	$ (782)	$ (583)
Losses on cash-flow hedges, net of income tax effect of $6, $19, and $12	(11)	(42)	(29)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $16, $14 and $23	33	32	50
Actuarial gain (loss) on pension and other postretirement obligations, settlements and plan amendments, net of income tax effect of $4, $5 and $5, respectively	(10)	13	(12)
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect of $-, $- and $1, respectively	1	1	4
Unrealized gain on investments, net of income tax effect	1
Currency translation adjustment	7	(324)	(212)
Currency translation adjustment	17
Balance at end of the period	(1,071)	(1,102)	(782)
Other Comprehensive Income (Loss), Tax [Abstract]
Losses on cash-flow hedges, income tax effect	(6)	(19)	(12)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of	(16)	(14)	(23)
Actuarial gains on pension and postretirement obligations, settlements and plan amendments, income tax effect	(4)	5	(5)
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect			(1)
Accumulated Translation Adjustment [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at the beginning of the period	(1,025)	(701)	(489)
Currency translation adjustment		(324)	(212)
Currency translation adjustment	17
Balance at end of the period	(1,008)	(1,025)	(701)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at the beginning of the period	(29)	(19)	(40)
Losses on cash-flow hedges, net of income tax effect of $6, $19, and $12	(11)	(42)	(29)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $16, $14 and $23	33	32	50
Balance at end of the period	(7)	(29)	(19)
Other Comprehensive Income (Loss), Tax [Abstract]
Losses on cash-flow hedges, income tax effect	(6)	(19)	(12)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of	(16)	(14)	(23)
Accumulated Defined Benefit Plans Adjustment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at the beginning of the period	(47)	(61)	(53)
Actuarial gain (loss) on pension and other postretirement obligations, settlements and plan amendments, net of income tax effect of $4, $5 and $5, respectively	(10)	13	(12)
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect of $-, $- and $1, respectively	1	1	4
Balance at end of the period	(56)	(47)	(61)
Other Comprehensive Income (Loss), Tax [Abstract]
Actuarial gains on pension and postretirement obligations, settlements and plan amendments, income tax effect	(4)	5	(5)
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect			(1)
Accumulated Net Unrealized Investment Gain (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Balance at the beginning of the period	(1)	(1)	(1)
Unrealized gain on investments, net of income tax effect	$ 1
Balance at end of the period		$ (1)	$ (1)

Equity (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
Equity (Details) - USD ($) $ in Millions	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Gross Profit	$ 339	$ 369	$ 355	$ 339	$ 313	$ 330	$ 319	$ 281	$ 1,402	$ 1,242	$ 1,115
Financing costs-net									66	61	61
Before tax reclassifications									(50)	(47)	(78)
Income tax benefit									16	14	24
Total after-tax reclassifications									(34)	(33)	(54)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges \| Reclassification out of Accumulated Other Comprehensive Income \| Commodity and Foreign Currency Contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Gross Profit									(47)	(43)	(70)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges \| Reclassification out of Accumulated Other Comprehensive Income \| Interest Rate Contract
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Financing costs-net									2	3	3
Accumulated Defined Benefit Plans Adjustment \| Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Losses related to pension and other postretirement obligations									$ 1	$ 1	$ 5

Equity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Basic EPS:
Net Income Available to Ingredion - basic									$ 484.9	$ 402.2	$ 354.9
Weighted average number of shares outstanding, basic									72.3	71.6	73.6
Basic earnings per common share of Ingredion (in dollars per share)	$ 1.29	$ 1.98	$ 1.62	$ 1.81	$ 1.45	$ 1.51	$ 1.49	$ 1.17	$ 6.70	$ 5.62	$ 4.82
Effect of Dilutive Securities:
Incremental shares from assumed exercise of dilutive stock options and vesting of dilutive RSUs and other awards									1.8	1.4	1.3
Diluted EPS:
Net Income Available to Ingredion - diluted									$ 484.9	$ 402.2	$ 354.9
Weighted Average Number of Shares Outstanding, Diluted, Total				73.6					74.1	73.0	74.9
Earnings Per Share, Diluted	$ 1.26	$ 1.93	$ 1.58	$ 1.77	$ 1.42	$ 1.48	$ 1.47	$ 1.15	$ 6.55	$ 5.51	$ 4.74
Antidilutive securities excluded in calculation of diluted EPS:
Antidilutive securities excluded from computation of earnings per share amount										0.3	0.1

Segment Information (Details) $ in Millions	3 Months Ended								12 Months Ended
Segment Information (Details) $ in Millions	Dec. 31, 2016 USD ($)	Sep. 30, 2016 USD ($)	Jun. 30, 2016 USD ($)	Mar. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Sep. 30, 2015 USD ($)	Jun. 30, 2015 USD ($)	Mar. 31, 2015 USD ($)	Dec. 31, 2016 USD ($) item	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)
Segment information
Number of reportable business segments \| item									4
Net sales	$ 1,399.0	$ 1,489.0	$ 1,455.0	$ 1,360.0	$ 1,405.0	$ 1,437.0	$ 1,449.0	$ 1,330.0	$ 5,704.0	$ 5,621.0	$ 5,668.0
Operating income									808.0	660.0	581.0
Impairment / restructuring charges									(19.0)	(28.0)	(33.0)
Restructuring charges									(19.0)
Acquisition / integration costs	(1.4)								(3.0)	(10.0)	(2.0)
Charge for fair value markup of acquired inventory										(10.0)
Litigation settlement										7.0
Total Assets	5,782.0				5,074.0				5,782.0	5,074.0	5,085.0
Depreciation and amortization									196.0	194.0	195.0
Capital expenditures									284.0	280.0	276.0
Gain from sale of plant										10.0
Income Tax Expense (Benefit)				$ 53.0					246.0	187.0	157.0
Write-off of impaired goodwill	0.0				0.0						33.0
Long-lived assets	2,237.0				2,106.0				2,237.0	2,106.0	2,169.0
KENYA
Segment information
Gain from sale of plant											3.0
North America
Segment information
Restructuring charges	(4.0)
Southern Cone of South America
Segment information
Write-off of impaired goodwill											33.0
UNITED STATES
Segment information
Net sales									2,117.0	1,983.0	1,681.0
Long-lived assets	955.0				920.0				955.0	920.0	803.0
BRAZIL
Segment information
Net sales									522.0	452.0	591.0
Impairment / restructuring charges										(12.0)
Long-lived assets	245.0				196.0				245.0	196.0	294.0
MEXICO
Segment information
Net sales									955.0	945.0	955.0
Long-lived assets	303.0				292.0				303.0	292.0	296.0
CANADA
Segment information
Net sales									375.0	417.0	457.0
Impairment / restructuring charges										(4.0)
Long-lived assets	147.0				126.0				147.0	126.0	154.0
GERMANY
Segment information
Long-lived assets	106.0				114.0				106.0	114.0	133.0
THAILAND
Segment information
Long-lived assets	119.0				111.0				119.0	111.0	105.0
ARGENTINA
Segment information
Net sales									201.0	252.0	262.0
Long-lived assets	60.0				64.0				60.0	64.0	82.0
KOREA, REPUBLIC OF
Segment information
Net sales									266.0	276.0	295.0
Long-lived assets	84.0				83.0				84.0	83.0	88.0
Other Countries
Segment information
Net sales									1,268.0	1,296.0	1,427.0
Long-lived assets	218.0				200.0				218.0	200.0	214.0
North America
Segment information
Net sales									3,447.0	3,345.0	3,093.0
Total Assets	3,796.0				3,163.0				3,796.0	3,163.0	2,901.0
Depreciation and amortization									130.0	123.0	111.0
Capital expenditures									167.0	158.0	130.0
South America
Segment information
Net sales									1,010.0	1,013.0	1,203.0
Total Assets	809.0				714.0				809.0	714.0	923.0
Depreciation and amortization									26.0	30.0	38.0
Capital expenditures									56.0	61.0	90.0
Write-off of impaired goodwill											33.0
Asia Pacific
Segment information
Net sales									709.0	733.0	794.0
Total Assets	697.0				716.0				697.0	716.0	711.0
Depreciation and amortization									23.0	23.0	26.0
Capital expenditures									41.0	36.0	30.0
EMEA
Segment information
Net sales									538.0	530.0	578.0
Total Assets	$ 480.0				$ 481.0				480.0	481.0	550.0
Depreciation and amortization									17.0	18.0	20.0
Capital expenditures									20.0	25.0	26.0
Penford
Segment information
Restructuring charges										(12.0)
Employee severance costs										12.0
Operating Segments
Segment information
Operating income									830.0	705.0	616.0
Operating Segments \| North America
Segment information
Operating income									610.0	479.0	375.0
Operating Segments \| South America
Segment information
Operating income									89.0	101.0	108.0
Operating Segments \| Asia Pacific
Segment information
Operating income									111.0	107.0	103.0
Operating Segments \| EMEA
Segment information
Operating income									106.0	93.0	95.0
Corporate, Non -Segment
Segment information
Operating income									(86.0)	(75.0)	(65.0)
Expense relating to tax indemnification agreement										4.0
Income relating to tax indemnification agreement											7.0
Income Tax Expense (Benefit)										$ (4.0)	$ 7.0
Employee Severance related costs \| IT transformation
Segment information
Employee severance costs									6.0
Employee Severance And Other Costs \| IT transformation
Segment information
Restructuring charges									(11.0)
Port Colborne Ontario Canada Plant \| Facility Closing
Segment information
Restructuring charges									(2.0)
North America And South America Employee Related Severance \| Employee Severance related costs
Segment information
Employee severance costs									$ 6.0

Commitments and Contingencies (Details) $ in Millions	12 Months Ended
Commitments and Contingencies (Details) $ in Millions	Dec. 31, 2016 USD ($)
BRAZIL
Commitments and Contingencies
Reserve maintained for labor claims	$ 5

Quarterly Financial Data (Unaudited) (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly financial data, restructuring activity
Net sales before shipping and handling costs	$ 1,484,000,000	$ 1,569,000,000	$ 1,533,000,000	$ 1,434,000,000	$ 1,489,000,000	$ 1,524,000,000	$ 1,536,000,000	$ 1,410,000,000	$ 6,022,000,000	$ 5,958,000,000	$ 5,998,000,000
Less: shipping and handling costs	85,000,000	80,000,000	78,000,000	74,000,000	84,000,000	87,000,000	87,000,000	80,000,000	318,000,000	337,000,000	330,000,000
Net sales	1,399,000,000	1,489,000,000	1,455,000,000	1,360,000,000	1,405,000,000	1,437,000,000	1,449,000,000	1,330,000,000	5,704,000,000	5,621,000,000	5,668,000,000
Gross profit	339,000,000	369,000,000	355,000,000	339,000,000	313,000,000	330,000,000	319,000,000	281,000,000	1,402,000,000	1,242,000,000	1,115,000,000
Net income attributable to Ingredion	$ 94,000,000	$ 143,000,000	$ 117,000,000	$ 130,000,000	$ 104,000,000	$ 108,000,000	$ 107,000,000	$ 84,000,000	$ 485,000,000	$ 402,000,000	$ 355,000,000
Basic earnings per common share of Ingredion (in dollars per share)	$ 1.29	$ 1.98	$ 1.62	$ 1.81	$ 1.45	$ 1.51	$ 1.49	$ 1.17	$ 6.70	$ 5.62	$ 4.82
Diluted earnings per common share of Ingredion (in dollars per share)	$ 1.26	$ 1.93	$ 1.58	$ 1.77	$ 1.42	$ 1.48	$ 1.47	$ 1.15	$ 6.55	$ 5.51	$ 4.74
Acquisition / integration costs	$ 1,400,000								$ 3,000,000	$ 10,000,000	$ 2,000,000
Acquisition and integration costs after-tax	900,000
Tax Settlement Expense Adjustment	$ 27,000,000
Income tax settlement (in dollars per share)	$ 0.36
Restructuring/impairment charges									$ 19,000,000
Litigation settlement cost					$ 6,800,000
Cost of litigation settlement, after tax					$ 4,300,000
Litigation settlement, (in dollars per share)					$ 0.06
Acquisition and integration costs per diluted common share	$ 0.01
North America
Quarterly financial data, restructuring activity
Restructuring/impairment charges	4,000,000
Restructuring charges, after-tax	$ 2,500,000
Restructuring charges, per diluted share (in dollars per share)	$ 0.03
Canada, the US and Brazil
Quarterly financial data, restructuring activity
Restructuring/impairment charges					$ 3,800,000
Restructuring charges, after-tax					$ 2,600,000
Restructuring charges, per diluted share (in dollars per share)					$ 0.04
Manufacturing assets in Port Colborne, Ontario, Canada
Quarterly financial data, restructuring activity
Gain on disposal					$ 9,800,000
Gain on disposal, after tax					$ 8,900,000
Gain on disposal (in dollars per share)					$ 0.12
Penford
Quarterly financial data, restructuring activity
Restructuring/impairment charges										$ 12,000,000
Kerr
Quarterly financial data, restructuring activity
Cost of acquired inventory sold that was adjusted to fair value					$ 1,800,000
After tax cost of acquired inventory sold that is adjusted to fair value					$ 1,100,000
Fair value of acquired inventory (in dollars per share)					$ 0.02
Penford and Kerr
Quarterly financial data, restructuring activity
Acquisition and integration costs after-tax					$ 600,000
Acquisition and integration costs					700,000
Acquisition and integration costs per diluted common share					$ 0.01