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Document and Entity Information - shares	3 Months Ended
Mar. 31, 2017	May 03, 2017
Document and Entity Information
Entity Registrant Name	Ingredion Inc
Entity Central Index Key	0001046257
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		71,641,000
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q1

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Consolidated Statements of Income
Net sales before shipping and handling costs	$ 1,537	$ 1,434
Less - shipping and handling costs	84	74
Net sales	1,453	1,360
Cost of sales	1,101	1,021
Gross profit	352	339
Operating expenses	149	138
Other (income) expense - net	(2)	1
Restructuring / impairment charges	10
Operating income	195	200
Financing costs-net	21	14
Income before income taxes	174	186
Provision for income taxes	47	53
Net income	127	133
Less - Net income attributable to non-controlling interests	3	3
Net income attributable to Ingredion	$ 124	$ 130
Weighted average common shares outstanding:
Basic (in shares)	72.2	72.0
Diluted (in shares)	73.7	73.6
Earnings per common share of Ingredion:
Basic (in dollars per share)	$ 1.72	$ 1.81
Diluted (in dollars per share)	$ 1.68	$ 1.77

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Consolidated Statements of Comprehensive Income (Loss)
Net income	$ 127	$ 133
Other comprehensive income (loss):
Gains / (loss) on cash-flow hedges, net of income tax effect of $3 and $6, respectively	5	(11)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $1 and $3, respectively	3	7
Currency translation adjustment	40	39
Comprehensive income (loss)	175	168
Less: Comprehensive income attributable to non-controlling interests	(3)	(3)
Comprehensive income (loss) attributable to Ingredion	$ 172	$ 165

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 435	$ 512
Short-term investments	13	4
Accounts receivable - net	913	923
Inventories	835	789
Prepaid expenses	31	24
Total current assets	2,227	2,252
Property, plant and equipment, at cost
Property, plant and equipment - net of accumulated depreciation of $2,885 and $2,826, respectively	2,146	2,116
Goodwill	803	784
Other intangible assets - net of accumulated amortization of $114 and $106, respectively	496	502
Deferred income tax assets	7	7
Other assets	120	121
Total Assets	5,799	5,782
Current liabilities
Short-term borrowings	118	106
Accounts payable and accrued liabilities	815	872
Total current liabilities	933	978
Non-current liabilities	164	158
Long-term debt	1,895	1,850
Deferred income tax liabilities	174	171
Share-based payments subject to redemption	24	30
Ingredion Stockholders' equity
Preferred stock - authorized 25,000,000 shares- $0.01 par value - none issued	0	0
Common stock — authorized 200,000,000 shares-$0.01 par value, 77,810,875 issued at March 31, 2017 and December 31, 2016, respectively	1	1
Additional paid-in capital	1,139	1,149
Less - Treasury stock (common stock: 6,202,224 and 5,396,526 shares at March 31, 2017 and December 31, 2016, respectively) at cost	(520)	(413)
Accumulated other comprehensive loss	(1,023)	(1,071)
Retained earnings	2,987	2,899
Total Ingredion stockholders' equity	2,584	2,565
Non-controlling interests	25	30
Total equity	2,609	2,595
Total liabilities and equity	$ 5,799	$ 5,782

Consolidated Statements of Equity - USD ($) $ in Millions	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Non-controlling Interests	Total
Balance at Dec. 31, 2015	$ 1	$ 1,160	$ (467)	$ (1,102)	$ 2,552	$ 36
Increase (Decrease) in Stockholders' Equity
Net income attributable to Ingredion					130		$ 130
Net income attributable to non-controlling interests						3	(3)
Dividends declared					(32)	(3)
Share-based compensation, net of issuance		(9)	23				(7)
Other comprehensive income (loss)				35
Balance at Mar. 31, 2016	1	1,151	(444)	(1,067)	2,650	36
Balance at Dec. 31, 2016	1	1,149	(413)	(1,071)	2,899	30	2,595
Increase (Decrease) in Stockholders' Equity
Net income attributable to Ingredion					124		124
Net income attributable to non-controlling interests						3	(3)
Dividends declared					(36)	(8)
Repurchases of common stock			(123)
Share-based compensation, net of issuance		(10)	16				(6)
Other comprehensive income (loss)				48
Balance at Mar. 31, 2017	$ 1	$ 1,139	$ (520)	$ (1,023)	$ 2,987	$ 25	$ 2,609

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash provided by operating activities:
Net income	$ 127	$ 133
Non-cash charges to net income:
Depreciation and amortization	51	47
Charge for fair value mark-up of acquired inventory	5
Other	23	24
Changes in working capital:
Accounts receivable and prepaid expenses	12	(21)
Inventories	(40)	(32)
Accounts payable and accrued liabilities	(48)	(55)
Decrease in margin accounts	6	12
Other	(5)	(9)
Cash provided by operating activities	131	99
Cash used for investing activities:
Capital expenditures, net of proceeds on disposals	(72)	(59)
Short-term investments	(8)	(13)
Payments for acquisitions	(13)
Other		(1)
Cash used for investing activities	(93)	(73)
Cash (used for) provided by financing activities:
Proceeds from borrowings	108	84
Payments on debt	(55)	(44)
Issuance (repurchase) of common stock - net	(130)	1
Dividends paid (including to non-controlling interests)	(44)	(35)
Cash (used for) provided by financing activities	(121)	6
Effect of foreign exchange rate changes on cash	6	11
(Decrease) Increase in cash and cash equivalents	(77)	43
Cash and cash equivalents, beginning of period	512	434
Cash and cash equivalents, end of period	$ 435	$ 477

Recently Adopted and New Accounting Standards	3 Months Ended
Recently Adopted and New Accounting Standards	Mar. 31, 2017
New Accounting Standards
New Accounting Standards	2. Recently Adopted and New Accounting Standards New Accounting Standards In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) that introduces a new five-step revenue recognition model in which an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU also requires disclosures sufficient to enable users to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. The FASB has also issued additional ASUs to provide further updates and clarification to the Update, including ASU 2015-14, ASU 2016-08, ASU 2016-10, ASU 2016-12 and ASU 2016-20. This standard is effective for fiscal years beginning after December 15, 2017, including interim periods within that reporting period. We plan to adopt the standard as of the effective date. The standard will allow various transition approaches upon adoption. We plan to use the modified retrospective approach for the transition to the new standard. Based on the analysis performed by the Company to date, our preliminary assessment is that the adoption of this guidance in the Update will not have a material impact on the Company’s revenue recognition timing or amounts; however, that assessment could change as we complete our analysis. We anticipate that our assessment will be complete by the third quarter of 2017. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which supersedes Topic 840, Leases. This Update increases the transparency and comparability of organizations by recognizing lease assets and lease liabilities on the balance sheet for leases longer than 12 months and disclosing key information about leasing arrangements. The recognition, measurement and presentation of expenses and cash flows arising from a lease by a lessee have not significantly changed. This Update is effective for annual periods beginning after December 15, 2018, with early adoption permitted. We currently plan to adopt the standard as of the effective date. Adoption will require a modified retrospective transition. We expect the adoption of the guidance in this Update to have a material impact on our Condensed Consolidated Balance Sheet as operating leases will be recognized both as assets and liabilities on the balance sheet. We are in the process of quantifying the magnitude of these changes and assessing the implementation approach for accounting for these changes. In January 2017, the FASB issued ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This Update simplifies the subsequent measurement of Goodwill as the Update eliminates Step 2 from the goodwill impairment test. Instead, under the Update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should then recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, with the loss recognized not to exceed the total amount of goodwill allocated to that reporting unit. This Update is effective for annual periods beginning after December 15, 2019, with early adoption permitted. In March 2017, the FASB issued ASU No. 2017-07, Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. This Update requires an entity to change the classification of the net periodic benefit cost for pension and postretirement plans within the statement of income by eliminating the ability to net all of the components of the costs together within operating income. The Update will require the service cost component to continue to be presented within operating income, classified within either cost of sales or operating expenses depending on the employees covered within the plan. The remaining components of the net periodic benefit cost, however, must be presented in the statement of income as a non-operating income (loss) below operating income. The Update is effective for annual periods beginning after December 15, 2017, with early adoption permitted only within the first interim period for public entities. We will not early adopt this Update. When adopted, the new guidance must be applied retrospectively for all income statement periods presented. The Update will reduce the Company’s operating income and will require a new financial statement line item below operating income within the Consolidated Income Statements for the non-operating income (loss) components. Net income within the Consolidated Income Statements will not change upon adoption of the Update.

- Definition

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

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+ Details

Acquisitions

3 Months Ended

Mar. 31, 2017

Acquisitions

Acquisitions

3. Acquisitions

On March 9, 2017, the Company completed its acquisition of Sun Flour Industry Co., Ltd. (“Sun Flour”) in Thailand for $18 million. Upon closing, the Company paid $13 million in cash and recorded $5 million in accrued liabilities for deferred payments due to the previous owner. The Company funded the acquisition primarily with cash. The acquisition of Sun Flour adds a fourth manufacturing facility to our operations in Thailand. It produces rice-based ingredients used primarily in the food industry. The results of the acquired operation are included in the Company’s consolidated results from the acquisition date forward within the Asia Pacific business segment.

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. The acquisition adds a manufacturing facility in the US and in China. The Company funded the acquisition with proceeds from borrowings under its revolving credit agreement. The results of the acquired operations are included in the Company’s consolidated results from the respective acquisition dates forward within the North America and Asia Pacific business segments.

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 Company funded the acquisition primarily with 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 results of the acquired operation are included in the Company’s consolidated results from the acquisition date forward within the Asia Pacific business segment.

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.

Goodwill represents the amount by which the purchase price exceeds the estimated fair value of the net assets acquired. The goodwill results from synergies and other operational benefits expected to be derived from the acquisitions. The goodwill related to TIC Gums and Shandong Huanong are tax deductible due to the structure of the acquisition. The goodwill related to Sun Flour is not tax deductible.

The following table summarizes the preliminary purchase price allocation for the acquisition of TIC Gums as of December 29, 2016:



		Preliminary
(in millions)		TIC Gums
Working capital (excluding cash)	$	50
Property, plant and equipment		42
Identifiable intangible assets		117
Goodwill		186
Total purchase price	$	395

The acquisitions of Sun Flour and Shandong Huanong added $21 million to goodwill and identifiable intangible assets and $9 million to net tangible assets as of their respective acquisition dates.

All of the recorded assets and liabilities, including working capital, property, plant and equipment (“PP&E”), goodwill and intangibles, are open to change as the Company is still in process of performing purchase accounting for TIC Gums and Sun Flour. The purchase accounting for Shandong Huanong is still open to finalize the valuation of the intangibles.

Included in the results of the acquired businesses for the three months ended March 31, 2017 were increases in cost of sales of $5 million relating to the sale of inventory that was adjusted to fair value at the acquisition dates in accordance with business combination accounting rules.

Pro-forma results of operations for the acquisitions made in 2017 and 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 $2 million of pre-tax acquisition and integration costs for the three months ended March 31, 2017, associated with its recent acquisitions. In 2016, the Company incurred $1 million of pre-tax acquisition and integration costs for the three months ended March 31, 2016 associated with the acquisition of Kerr Concentrates, Inc.

- 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

Segment Information

3 Months Ended

Mar. 31, 2017

Segment Information

Segment Information

5. Segment Information

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


	Three Months Ended
	March 31,
(in millions)	2017		2016
Net sales to unaffiliated customers:
North America	$	881	$	841
South America		255		215
Asia Pacific		179		169
EMEA		138		135
Total	$	1,453	$	1,360

Operating income:
North America	$	160	$	149
South America		14		18
Asia Pacific		30		28
EMEA		28		26
Corporate		(20)		(20)
Subtotal		212		201
Restructuring charges		(10)		—
Acquisition / integration costs		(2)		(1)
Charge for fair value markup of acquired inventory		(5)		—
Total	$	195	$	200


	At		At
(in millions)	March 31, 2017		Dec. 31, 2016
Total assets
North America	$	3,727	$	3,796
South America		841		809
Asia Pacific		754		697
EMEA		477		480
Total	$	5,799	$	5,782

- 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.

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Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
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+ Details

Financial Instruments, Derivatives and Hedging Activities

3 Months Ended

Mar. 31, 2017

Financial Instruments, Derivatives and Hedging Activities

Financial Instruments, Derivatives and Hedging Activities

6. Financial Instruments, Derivatives and Hedging Activities

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

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

At March 31, 2017, AOCI included $6 million of gains (net of income taxes of $2 million), pertaining to commodities-related derivative instruments designated as cash-flow hedges. At December 31, 2016, the amount included in AOCI pertaining to these commodities-related derivative instruments designated as cash-flow hedges was not significant.

Interest rate hedging: Derivative financial instruments that have been used by the Company to manage its interest rate risk consist of interest rate swaps and Treasury Lock agreements (“T-Locks”). The Company has interest rate swap agreements that effectively convert the interest rates on its 6.0 percent $200 million senior notes due April 15, 2017, its 1.8 percent $300 million senior notes due September 25, 2017 and on $200 million of its $400 million 4.625 percent senior notes due November 1, 2020, to variable rates. These swap agreements call for the Company to receive interest at the fixed coupon rate of the respective notes and to pay interest at a variable rate based on the six-month US dollar LIBOR rate plus a spread. The Company has designated these interest rate swap agreements as hedges of the changes in fair value of the underlying debt obligations attributable to changes in interest rates and accounts for them as fair-value hedges. Changes in the fair value of interest rate swaps designated as hedging instruments that effectively offset the variability in the fair value of outstanding debt obligations are reported in earnings. These amounts offset the gain or loss (the change in fair value) of the hedged debt instrument that is attributable to changes in interest rates (the hedged risk), which is also recognized in earnings. The fair value of these interest rate swap agreements at March 31, 2017 and December 31, 2016 was $3 million and $3 million, respectively, and is reflected in the Condensed Consolidated Balance Sheets within Other assets, with an offsetting amount recorded in Long-term debt to adjust the carrying amount of the hedged debt obligations. The Company did not have any T-Locks outstanding at March 31, 2017 or December 31, 2016.

At March 31, 2017, AOCI included $3 million of losses, (net of income taxes of $2 million), related to settled T-Locks. At December 31, 2016, AOCI included $4 million of losses (net of income taxes of $2 million), related to settled T-Locks. These deferred losses are being amortized to financing costs over the terms of the senior notes with which they are associated.

Foreign currency hedging: Due to the Company’s global operations, including operations in many emerging markets, it is exposed to fluctuations in foreign currency exchange rates. As a result, the Company has exposure to translational foreign exchange risk when the results of its foreign operations are translated to US dollars and to transactional foreign exchange risk when transactions not denominated in the functional currency are revalued. The Company primarily uses derivative financial instruments such as foreign currency forward contracts, swaps and options to manage its transactional foreign exchange risk. At March 31, 2017, the Company had foreign currency forward sales contracts that are designated as fair value hedges with an aggregate notional amount of $430 million and foreign currency forward purchase contracts with an aggregate notional amount of $214 million that hedged transactional exposures. 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.

The Company also has foreign currency derivative instruments that hedge certain foreign currency transactional exposures and are designated as cash-flow hedges. At March 31, 2017, AOCI included $2 million of losses, net of tax, relating to these hedges. At December 31, 2016, AOCI included $3 million of losses, net of tax, relating to these hedges.

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	March 31,		December 31,		Balance Sheet	March 31,		December 31,
(in millions)	Location	2017		2016		Location	2017		2016

Commodity and foreign currency	Accounts receivable-net	$	29	$	31	Accounts payable and accrued liabilities	$	19	$	25

Commodity, foreign currency, and interest rate contracts	Other assets		4		8	Non-current liabilities		3		2

Total		$	33	$	39		$	22	$	27

At March 31, 2017, the Company had outstanding futures and option contracts that hedged the forecasted purchase of approximately 99 million bushels of corn and 43 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 23 million mmbtu’s of natural gas at March 31, 2017. Additionally at March 31, 2017, the Company had outstanding ethanol futures contracts that hedged the forecasted sale of approximately 15 million gallons of ethanol.

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


					Location of Gains
Derivatives in	Amount of Gains (Losses)				(Losses)	Amount of Gains (Losses)
Cash-Flow	Recognized in OCI				Reclassified from	Reclassified from AOCI into Income
Hedging	Three Months Ended		Three Months Ended		AOCI	Three Months Ended		Three Months Ended
Relationships	March 31, 2017		March 31, 2016		into Income	March 31, 2017		March 31, 2016
Commodity contracts	$	7	$	(18)	Cost of sales	$	(3)	$	(9)
Foreign currency contracts		1		1	Gross profit		—		(1)
Interest rate contracts		—		—	Financing costs, net		(1)		—
Total	$	8	$	(17)		$	(4)	$	(10)

At March 31, 2017, AOCI included $6 million of gains (net of income taxes of $3 million) on commodities-related derivative instruments designated as cash-flow hedges that are expected to be reclassified into earnings during the next twelve months. The Company expects the gains to be offset by changes in the underlying commodities costs. The Company also has $1 million of losses on settled T-Locks (net of income taxes of $1 million) recorded in AOCI at March 31, 2017, which are expected to be reclassified into earnings during the next twelve months. Additionally, at March 31, 2017, AOCI included an insignificant amount of losses related to foreign currency hedges that are expected to be reclassified into earnings during the next twelve months.

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


	As of March 31, 2017								As of December 31, 2016
(in millions)	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Available for sale securities	$	8	$	8	$	—	$	—	$	7	$	7	$	—	$	—
Derivative assets		33		11		22		—		39		6		33		—
Derivative liabilities		22		5		17		—		27		11		16		—
Long-term debt		1,998		—		1,998		—		1,929		—		1,929		—

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

The carrying values of cash equivalents, short-term investments, accounts receivable, accounts payable and short-term borrowings approximate fair values. Commodity futures, options and swap contracts are recognized at fair value. Foreign currency forward contracts, swaps and options are also recognized at fair value. The fair value of the Company’s long-term debt is estimated based on quotations of major securities dealers who are market makers in the securities. At March 31, 2017, the carrying value and fair value of the Company’s long-term debt were $1,895 million and $1,998 million, respectively.

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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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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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Share-Based Compensation

3 Months Ended

Mar. 31, 2017

Share-Based Compensation

Share-Based Compensation

7. Share-Based Compensation

Stock Options:

Under the Company’s stock incentive plan, stock options are granted at exercise prices that equal the market value of the underlying common stock on the date of grant. The options have a 10-year term and are exercisable upon vesting, which occurs over a three-year period at the anniversary dates of the date of grant. Compensation expense is 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 March 31, 2017, certain of these nonqualified options have been forfeited due to termination of employees.

The Company granted non-qualified options to purchase 268 thousand shares and 329 thousand shares during the three months ended March 31, 2017 and 2016, respectively. The fair value of each option grant was estimated using the Black-Scholes option-pricing model with the following assumptions:


	For the Three Months Ended
	March 31,
	2017		2016
Expected life (in years)	5.5		5.5
Risk-free interest rate	1.93	%	1.36	%
Expected volatility	22.50	%	23.40	%
Expected dividend yield	1.68	%	1.80	%

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

Stock option activity for the three months ended March 31, 2017 was as follows:


		Weighted
	Number of	Average		Average	Aggregate
	Options	Exercise		Remaining	Intrinsic
	(in	Price per		Contractual	Value
	thousands)	Share		Term (Years)	(in millions)
Outstanding at December 31, 2016	2,281	$	61.39	5.93	$	145
Granted	278		119.08
Exercised	(79)		37.38
Cancelled	(16)		80.47
Outstanding at March 31, 2017	2,464	$	68.53	6.26	$	128
Exercisable at March 31, 2017	1,880	$	56.86	6.20		120

For the three months ended March 31, 2017, cash received from the exercise of stock options was $3 million. At March 31, 2017, the total remaining unrecognized compensation cost related to stock options was $8 million, which will be amortized over a weighted-average period of approximately 1.6 years.

Additional information pertaining to stock option activity is as follows:


	Three Months Ended
	March 31,
(dollars in thousands, except per share)	2017		2016
Weighted average grant date fair value of stock options granted (per share)	$	23.90	$	18.73
Total intrinsic value of stock options exercised	$	6,849	$	12,665

Restricted Stock Units:

The Company has granted restricted stock units (“RSUs”) to certain key employees. The RSUs are subject to cliff vesting, generally after three years provided the employee remains in the service of the Company. 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 three months ended March 31, 2017:


		Weighted
		Average
	Number of	Fair Value
(RSUs in thousands)	RSUs	per Share
Non-vested at December 31, 2016	429	$	81.04
Granted	112		119.13
Vested	(124)		62.18
Cancelled	(5)		87.96
Non-vested at March 31, 2017	412	$	98.13

At March 31, 2017, the total remaining unrecognized compensation cost related to RSUs was $23 million, which will be amortized over a weighted-average period of approximately 2.1 years.

Performance Shares:

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

For the three months ended March 31, 2017, the Company awarded 38 thousand share units at a weighted average fair value of $114.08 per share unit. 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 2014 performance share award vested in the first quarter of 2017, achieving a 200 percent pay out of the grant, or 115 thousand total vested shares. There were no performance share cancellations during the first quarter of 2017.

At March 31, 2017, the unrecognized compensation cost related to these awards was $6 million, which will be amortized over the remaining requisite service periods of 2.1 years.

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


	Three Months Ended
	March 31,
(in millions)	2017		2016
Stock options:
Pre-tax compensation expense	$	2	$	2
Income tax (benefit)		(1)		(1)
Stock option expense, net of income taxes		1		1

RSUs:
Pre-tax compensation expense		3		3
Income tax (benefit)		(1)		(1)
RSUs, net of income taxes		2		2

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

Total share-based compensation:
Pre-tax compensation expense		7		7
Income tax (benefit)		(3)		(3)
Total share-based compensation expense, net of income taxes	$	4	$	4

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details

Net Periodic Pension and Postretirement Benefit Costs

3 Months Ended

Mar. 31, 2017

Net Periodic Pension and Postretirement Benefit Costs

Benefit plans

8. Net Periodic Pension and Postretirement Benefit Costs

For detailed information about the Company’s pension and postretirement benefit plans, please refer to Note 10 of the Notes to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016.

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


	Three Months Ended
	March 31,
	US Plans				Non-US Plans
(in millions)	2017		2016		2017		2016
Service cost	$	1	$	2	$	1	$	1
Interest cost		3		3		2		3
Expected return on plan assets		(5)		(5)		(3)		(3)
Amortization of actuarial loss		—		—		1		1
Amortization of prior service credit		—		—		—		—
Settlement loss		—		—		—		—
Net periodic benefit cost	$	(1)	$	—	$	1	$	2

The Company currently anticipates that it will make approximately $3 million in cash contributions to its pension plans in 2017, consisting of $2 million to its non-US pension plans and $1 million to its US pension plans. For the three months ended March 31, 2017, cash contributions of approximately $1 million were made to the non-US plans and less than $1 million to the US plans.

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


	Three Months Ended
	March 31,
(in millions)	2017		2016
Service cost	$	—	$	—
Interest cost		1		1
Amortization of actuarial loss		—		—
Amortization of prior service credit		(1)		(1)
Net periodic benefit cost	$	—	$	—

Earnings per Common Share

3 Months Ended

Mar. 31, 2017

Earnings per Common Share

Earnings per Common Share

9. Earnings per Common Share

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


	Three Months Ended March 31, 2017					Three Months Ended March 31, 2016
	Net Income					Net Income
	Available		Weighted			Available		Weighted
	to Ingredion		Average Shares	Per Share		to Ingredion		Average Shares	Per Share
(in millions, except per share amounts)	(Numerator)		(Denominator)	Amount		(Numerator)		(Denominator)	Amount

Basic EPS	$	124	72.2	$	1.72	$	130	72.0	$	1.81

Effect of Dilutive Securities:

Incremental shares from assumed exercise of dilutive stock options and vesting of dilutive RSUs and other awards			1.5					1.6

Diluted EPS	$	124	73.7	$	1.68	$	130	73.6	$	1.77

For both the first quarter 2017 and 2016, approximately 0.3 million share-based awards of common stock were excluded from the calculation of diluted EPS as the impact of their inclusion would have been anti-dilutive.

Debt

3 Months Ended

Mar. 31, 2017

Debt

Debt

11. Debt

At March 31, 2017 and December 31, 2016, the Company’s total debt consisted of the following:


	At		At
	March 31,		December 31,
(in millions)	2017		2016
3.2% senior notes due October 1, 2026	$	497	$	496
4.625% senior notes due November 1, 2020		398		398
1.8% senior notes due September 25, 2017		300		299
6.625% senior notes due April 15, 2037		253		254
6.0% senior notes due April 15, 2017		200		200
5.62% senior notes due March 25, 2020		200		200
Revolving credit facility		44		—
Fair value adjustment related to hedged fixed rate debt instruments		3		3
Long-term debt	$	1,895	$	1,850
Short-term borrowings		118		106
Total debt	$	2,013	$	1,956

The Company’s long-term debt at March 31, 2017 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 as the Company has the ability and intent to refinance them on a long-term basis prior to the respective maturity dates. In April 2017, the $200 million of Senior Notes that matured were refinanced through use of the revolving credit facility.

Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2017

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

12. Accumulated Other Comprehensive Loss

A summary of accumulated other comprehensive loss for the three months ended March 31, 2017 and 2016 is provided below:


			Deferred				Unrealized		Accumulated
	Cumulative		Gain/(Loss)		Pension/		Loss		Other
	Translation		on Hedging		Postretirement		on		Comprehensive
(in millions)	Adjustment		Activities		Adjustment		Investment		Loss
Balance, December 31, 2016	$	(1,008)	$	(7)	$	(56)	$	—	$	(1,071)
Gains on cash-flow hedges, net of income tax effect of $3				5						5
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $1				3						3
Currency translation adjustment		40								40
Balance, March 31, 2017	$	(968)	$	1	$	(56)	$	—	$	(1,023)


			Deferred				Unrealized		Accumulated
	Cumulative		Gain/(Loss)		Pension/		Loss		Other
	Translation		on Hedging		Postretirement		on		Comprehensive
(in millions)	Adjustment		Activities		Adjustment		Investment		Loss
Balance, December 31, 2015	$	(1,025)	$	(29)	$	(47)	$	(1)	$	(1,102)
Losses on cash-flow hedges, net of income tax effect $6				(11)						(11)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $3				7						7
Currency translation adjustment		39								39
Balance, March 31, 2016	$	(986)	$	(33)	$	(47)	$	(1)	$	(1,067)

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


	Amount
	Reclassified from
	AOCI
	Three Months Ended				Affected Line Item in
Details about AOCI Components	March 31,				Condensed Consolidated
(in millions)	2017		2016		Statements of Income
Losses on cash-flow hedges:
Commodity and foreign currency contracts	$	(3)	$	(10)	Gross profit
Interest rate contracts		(1)		—	Financing costs, net
Total before-tax reclassifications	$	(4)	$	(10)
Income tax benefit		1		3
Total after-tax reclassifications	$	(3)	$	(7)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e689-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=66004124&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e640-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e716-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e709-108580

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

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e637-108580

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=66004124&loc=d3e681-108580

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

+ Details

Segment Information (Tables)

3 Months Ended

Mar. 31, 2017

Segment Information

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


	Three Months Ended
	March 31,
(in millions)	2017		2016
Net sales to unaffiliated customers:
North America	$	881	$	841
South America		255		215
Asia Pacific		179		169
EMEA		138		135
Total	$	1,453	$	1,360

Operating income:
North America	$	160	$	149
South America		14		18
Asia Pacific		30		28
EMEA		28		26
Corporate		(20)		(20)
Subtotal		212		201
Restructuring charges		(10)		—
Acquisition / integration costs		(2)		(1)
Charge for fair value markup of acquired inventory		(5)		—
Total	$	195	$	200


	At		At
(in millions)	March 31, 2017		Dec. 31, 2016
Total assets
North America	$	3,727	$	3,796
South America		841		809
Asia Pacific		754		697
EMEA		477		480
Total	$	5,799	$	5,782

Financial Instruments, Derivatives and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2017

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	March 31,		December 31,		Balance Sheet	March 31,		December 31,
(in millions)	Location	2017		2016		Location	2017		2016

Commodity and foreign currency	Accounts receivable-net	$	29	$	31	Accounts payable and accrued liabilities	$	19	$	25

Commodity, foreign currency, and interest rate contracts	Other assets		4		8	Non-current liabilities		3		2

Total		$	33	$	39		$	22	$	27

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

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


					Location of Gains
Derivatives in	Amount of Gains (Losses)				(Losses)	Amount of Gains (Losses)
Cash-Flow	Recognized in OCI				Reclassified from	Reclassified from AOCI into Income
Hedging	Three Months Ended		Three Months Ended		AOCI	Three Months Ended		Three Months Ended
Relationships	March 31, 2017		March 31, 2016		into Income	March 31, 2017		March 31, 2016
Commodity contracts	$	7	$	(18)	Cost of sales	$	(3)	$	(9)
Foreign currency contracts		1		1	Gross profit		—		(1)
Interest rate contracts		—		—	Financing costs, net		(1)		—
Total	$	8	$	(17)		$	(4)	$	(10)

Schedule of fair value of financial instruments and derivatives


	As of March 31, 2017								As of December 31, 2016
(in millions)	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Available for sale securities	$	8	$	8	$	—	$	—	$	7	$	7	$	—	$	—
Derivative assets		33		11		22		—		39		6		33		—
Derivative liabilities		22		5		17		—		27		11		16		—
Long-term debt		1,998		—		1,998		—		1,929		—		1,929		—

Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2017

Share-Based Compensation

Schedule of valuation assumptions for stock options


	For the Three Months Ended
	March 31,
	2017		2016
Expected life (in years)	5.5		5.5
Risk-free interest rate	1.93	%	1.36	%
Expected volatility	22.50	%	23.40	%
Expected dividend yield	1.68	%	1.80	%

Schedule of stock option activity


		Weighted
	Number of	Average		Average	Aggregate
	Options	Exercise		Remaining	Intrinsic
	(in	Price per		Contractual	Value
	thousands)	Share		Term (Years)	(in millions)
Outstanding at December 31, 2016	2,281	$	61.39	5.93	$	145
Granted	278		119.08
Exercised	(79)		37.38
Cancelled	(16)		80.47
Outstanding at March 31, 2017	2,464	$	68.53	6.26	$	128
Exercisable at March 31, 2017	1,880	$	56.86	6.20		120

Schedule of additional information pertaining to stock option activity


	Three Months Ended
	March 31,
(dollars in thousands, except per share)	2017		2016
Weighted average grant date fair value of stock options granted (per share)	$	23.90	$	18.73
Total intrinsic value of stock options exercised	$	6,849	$	12,665

Schedule of restricted unit activity


		Weighted
		Average
	Number of	Fair Value
(RSUs in thousands)	RSUs	per Share
Non-vested at December 31, 2016	429	$	81.04
Granted	112		119.13
Vested	(124)		62.18
Cancelled	(5)		87.96
Non-vested at March 31, 2017	412	$	98.13

Schedule of components of share based compensation expense


	Three Months Ended
	March 31,
(in millions)	2017		2016
Stock options:
Pre-tax compensation expense	$	2	$	2
Income tax (benefit)		(1)		(1)
Stock option expense, net of income taxes		1		1

RSUs:
Pre-tax compensation expense		3		3
Income tax (benefit)		(1)		(1)
RSUs, net of income taxes		2		2

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

Total share-based compensation:
Pre-tax compensation expense		7		7
Income tax (benefit)		(3)		(3)
Total share-based compensation expense, net of income taxes	$	4	$	4

Net Periodic Pension and Postretirement Benefit Costs (Tables)

3 Months Ended

Mar. 31, 2017

Pension Plan, Defined Benefit

Pension and postretirement benefit plans

Components of net periodic benefit cost


	Three Months Ended
	March 31,
	US Plans				Non-US Plans
(in millions)	2017		2016		2017		2016
Service cost	$	1	$	2	$	1	$	1
Interest cost		3		3		2		3
Expected return on plan assets		(5)		(5)		(3)		(3)
Amortization of actuarial loss		—		—		1		1
Amortization of prior service credit		—		—		—		—
Settlement loss		—		—		—		—
Net periodic benefit cost	$	(1)	$	—	$	1	$	2

Other Postretirement Benefit Plan, Defined Benefit

Pension and postretirement benefit plans

Components of net periodic benefit cost


	Three Months Ended
	March 31,
(in millions)	2017		2016
Service cost	$	—	$	—
Interest cost		1		1
Amortization of actuarial loss		—		—
Amortization of prior service credit		(1)		(1)
Net periodic benefit cost	$	—	$	—

Earnings per Common Share (Tables)

3 Months Ended

Mar. 31, 2017

Earnings per Common Share

Schedule of basic and diluted earnings per common share


	Three Months Ended March 31, 2017					Three Months Ended March 31, 2016
	Net Income					Net Income
	Available		Weighted			Available		Weighted
	to Ingredion		Average Shares	Per Share		to Ingredion		Average Shares	Per Share
(in millions, except per share amounts)	(Numerator)		(Denominator)	Amount		(Numerator)		(Denominator)	Amount

Basic EPS	$	124	72.2	$	1.72	$	130	72.0	$	1.81

Effect of Dilutive Securities:

Incremental shares from assumed exercise of dilutive stock options and vesting of dilutive RSUs and other awards			1.5					1.6

Diluted EPS	$	124	73.7	$	1.68	$	130	73.6	$	1.77

Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Mar. 31, 2017

Accumulated Other Comprehensive Loss

Summary of accumulated other comprehensive loss


			Deferred				Unrealized		Accumulated
	Cumulative		Gain/(Loss)		Pension/		Loss		Other
	Translation		on Hedging		Postretirement		on		Comprehensive
(in millions)	Adjustment		Activities		Adjustment		Investment		Loss
Balance, December 31, 2016	$	(1,008)	$	(7)	$	(56)	$	—	$	(1,071)
Gains on cash-flow hedges, net of income tax effect of $3				5						5
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $1				3						3
Currency translation adjustment		40								40
Balance, March 31, 2017	$	(968)	$	1	$	(56)	$	—	$	(1,023)


			Deferred				Unrealized		Accumulated
	Cumulative		Gain/(Loss)		Pension/		Loss		Other
	Translation		on Hedging		Postretirement		on		Comprehensive
(in millions)	Adjustment		Activities		Adjustment		Investment		Loss
Balance, December 31, 2015	$	(1,025)	$	(29)	$	(47)	$	(1)	$	(1,102)
Losses on cash-flow hedges, net of income tax effect $6				(11)						(11)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $3				7						7
Currency translation adjustment		39								39
Balance, March 31, 2016	$	(986)	$	(33)	$	(47)	$	(1)	$	(1,067)

Impairment and Restructuring Charges (Details) $ in Millions	3 Months Ended
	Mar. 31, 2017 USD ($)
Restructuring and asset impairment charges
Restructuring Charges	$ 10
Employee Severance related costs
Restructuring and asset impairment charges
Restructuring Charges	11
Restructuring accrual
Balance in severance accrual at December 31, 2016	7
Payments made to terminated employees	(2)
Balance in severance accrual at March 31, 2017	15
Employee Severance related costs \| IT transformation
Restructuring and asset impairment charges
Expected restructuring charges in 2017	1
Restructuring accrual
Reduction in expected restructuring charges in 2017	(1)
Employee Severance related costs \| Argentina employee-related severance
Restructuring accrual
Restructuring charge for employee severance costs	$ 11

Financial Instruments, Derivatives and Hedging Activities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2014
Financial instruments, derivatives and hedging activities
Accumulated gains (losses) from derivative instruments, net of tax effect	$ 1,023	$ 1,071
Carrying amount of fair value adjustment related to hedged fixed rate instrument debt instrument	$ 3	3
Senior Notes 4.625 Percent Due November 1, 2020
Financial instruments, derivatives and hedging activities
Debt, face amount			$ 400
Commodity Contracts \| Minimum
Financial instruments, derivatives and hedging activities
Maturity period of price risk derivative	12 months
Commodity Contracts \| 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 Contracts
Financial instruments, derivatives and hedging activities
Accumulated gains (losses) from derivative instruments, net of tax effect	(6)
Accumulated gains (losses) from derivative instruments, net income tax effect	2
Cash Flow Hedging \| Treasury Lock
Financial instruments, derivatives and hedging activities
Accumulated gains (losses) from derivative instruments, net of tax effect	3	4
Accumulated gains (losses) from derivative instruments, net income tax effect	(2)	(2)
Cash Flow Hedging \| Foreign Exchange Forward
Financial instruments, derivatives and hedging activities
Accumulated gains (losses) from derivative instruments, net of tax effect	2	3
Fair Value Hedging \| Interest Rate Swap
Financial instruments, derivatives and hedging activities
Fair value of interest rate derivatives	$ 3	3
Fair Value Hedging \| Interest Rate Swap \| Senior Notes 6.0 Percent Due April 15, 2017
Financial instruments, derivatives and hedging activities
Debt, fixed interest rate (as a percent)	6.00%
Debt, face amount	$ 200
Debt, floating rate of interest basis	six-month US dollar LIBOR
Fair Value Hedging \| Interest Rate Swap \| Senior Notes 1.8 Percent Due September 25, 2017
Financial instruments, derivatives and hedging activities
Debt, fixed interest rate (as a percent)	1.80%
Debt, face amount	$ 300
Debt, floating rate of interest basis	six-month US dollar LIBOR
Fair Value Hedging \| Interest Rate Swap \| Senior Notes 4.625 Percent Due November 1, 2020
Financial instruments, derivatives and hedging activities
Debt, fixed interest rate (as a percent)	4.625%
Debt, face amount	$ 200
Debt, floating rate of interest basis	six-month US dollar LIBOR
Fair Value Hedging \| Foreign Exchange Forward \| Short
Foreign currency hedging
Derivative notional amount	$ 430	432
Fair Value Hedging \| Foreign Exchange Forward \| Long
Foreign currency hedging
Derivative notional amount	$ 214	$ 227

Share-Based Compensation Stock Options (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Assumptions used to measure the fair value of awards
Expected life	5 years 6 months	5 years 6 months
Risk-free interest rate (as a percent)	1.93%	1.36%
Expected volatility (as a percent)	22.50%	23.40%
Expected dividend yield (as a percent)	1.68%	1.80%
Stock option activity
Outstanding at the beginning of the period (in shares)	2,281
Granted (in shares)	278
Exercised (in shares)	(79)
Cancelled (in shares)	(16)
Outstanding at the end of the period (in shares)	2,464		2,281
Exercisable at the end of the period (in shares)	1,880
Share options, weighted average exercise price per share
Outstanding at the beginning of the period (in dollars per share)	$ 61.39
Granted (in dollars per share)	119.08
Exercised (in dollars per share)	37.38
Cancelled (in dollars per share)	80.47
Outstanding at the end of the period (in dollars per share)	68.53		$ 61.39
Exercisable at the end of the period (in dollars per share)	$ 56.86
Share options, aggregate intrinsic value
Options outstanding average remaining contractual life	6 years 3 months 4 days		5 years 11 months 5 days
Options outstanding aggregate intrinsic value	$ 128,000		$ 145,000
Stock options exercisable average remaining contractual life	6 years 2 months 12 days
Stock options exercisable aggregate intrinsic value	$ 120,000
Additional information pertaining to stock options
Weighted average fair value of the shares granted	$ 23.90	$ 18.73
Total intrinsic value of stock options exercised	$ 6,849	$ 12,665
Employee Non-Qualified Stock Option
Stock option activity
Granted (in shares)	268	329
Employee Stock Option
Equity stock-based compensation
Term of options	10 years
Period of vesting	3 years
Required service period	1 year
Additional information pertaining to stock options
Cash received from exercise of stock options	$ 3,000
Unrecognized compensation cost	$ 8,000
Weighted-average period for amortization of unrecognized compensation cost	1 year 7 months 6 days

Share-Based Compensation Restricted Stock (Details) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2017 USD ($) $ / shares shares
Restricted Stock Units (RSUs)
Equity stock-based compensation
Vesting terms	3 years
Restricted unit activity
Non-vested at the beginning of the period (in shares)	429
Granted (in shares)	112
Vested (in shares)	(124)
Cancelled (in shares)	(5)
Non-vested at the end of the period (in shares)	412
Weighted-average fair value per share
Non-vested at the beginning of the period (in dollars per share) \| $ / shares	$ 81.04
Granted (in dollars per share) \| $ / shares	119.13
Vested (in dollars per share) \| $ / shares	62.18
Cancelled (in dollars per share) \| $ / shares	87.96
Non-vested at the end of the period (in dollars per share) \| $ / shares	$ 98.13
Unrecognized compensation cost \| $	$ 23.0
Weighted-average period for amortization of unrecognized compensation cost	2 years 1 month 6 days
Other disclosures
Service period over which compensation expense would be amortized	1 year
Performance Shares award
Equity stock-based compensation
Vesting terms	3 years
Restricted unit activity
Vested (in shares)	(115)
Cancelled (in shares)	0
Weighted-average fair value per share
Unrecognized compensation cost \| $	$ 6.0
Other disclosures
Service period over which compensation expense would be amortized	3 years
Performance Shares award \| Long Term Incentive Plan
Restricted unit activity
Granted (in shares)	38

Share-Based Compensation Expense (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based compensation expense
Weighted average fair value of the shares granted	$ 23.90	$ 18.73
Pre-tax compensation expense	$ 7.0	$ 7.0
Income tax (benefit)	(3.0)	(3.0)
Total share-based compensation expense, net of income taxes	4.0	4.0
Employee Stock Option
Share-based compensation expense
Unrecognized compensation cost	8.0
Pre-tax compensation expense	2.0	2.0
Income tax (benefit)	(1.0)	(1.0)
Total share-based compensation expense, net of income taxes	1.0	1.0
Restricted Stock Units (RSUs)
Share-based compensation expense
Unrecognized compensation cost	23.0
Pre-tax compensation expense	3.0	3.0
Income tax (benefit)	(1.0)	(1.0)
Total share-based compensation expense, net of income taxes	$ 2.0	2.0
Performance Shares award
Share-based compensation expense
Weighted average fair value of the shares granted	$ 114.08
Award payout achieved (as a percent)	200.00%
Unrecognized compensation cost	$ 6.0
Remaining requisite service period (in years)	2 years 1 month 6 days
Performance Shares award \| Minimum
Share-based compensation expense
Performance shares available for vesting (as a percent)	0.00%
Performance Shares award \| Maximum
Share-based compensation expense
Performance shares available for vesting (as a percent)	200.00%
Performance shares and other share-based awards
Share-based compensation expense
Pre-tax compensation expense	$ 2.0	2.0
Income tax (benefit)	(1.0)	(1.0)
Total share-based compensation expense, net of income taxes	$ 1.0	$ 1.0

Net Periodic Pension and Postretirement Benefit Costs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Anticipated cash contributions
Anticipated cash contributions to pension plans in 2017	$ 3.0
United States Pension Plan of US Entity, Defined Benefit
Components of Net Periodic Benefit Costs
Service cost	1.0	$ 2.0
Interest cost	3.0	3.0
Expected return on plan assets	(5.0)	(5.0)
Net postretirement benefit cost / Net pension cost (credit)	(1.0)
Employer Contributions
Cash contributions to defined benefit pension plan	1.0
Anticipated cash contributions
Anticipated cash contributions to pension plans in 2017	1.0
Foreign Pension Plan, Defined Benefit
Components of Net Periodic Benefit Costs
Service cost	1.0	1.0
Interest cost	2.0	3.0
Expected return on plan assets	(3.0)	(3.0)
Amortization of actuarial loss	1.0	1.0
Net postretirement benefit cost / Net pension cost (credit)	1.0	2.0
Employer Contributions
Cash contributions to defined benefit pension plan	1.0
Anticipated cash contributions
Anticipated cash contributions to pension plans in 2017	2.0
Other Postretirement Benefit Plan, Defined Benefit
Components of Net Periodic Benefit Costs
Interest cost	1.0	1.0
Amortization of prior service credit	$ (1.0)	$ (1.0)

Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Basic EPS:
Net Income Available to Ingredion - basic	$ 124.0	$ 130.0
Weighted average number of shares outstanding, basic	72.2	72.0
Basic earnings per common share of Ingredion (in dollars per share)	$ 1.72	$ 1.81
Effect of Dilutive Securities:
Incremental shares from assumed exercise of dilutive stock options and vesting of dilutive RSUs and other awards	1.5	1.6
Diluted EPS:
Net Income Available to Ingredion - diluted	$ 124.0	$ 130.0
Weighted Average Number of Shares Outstanding, Diluted, Total	73.7	73.6
Diluted earnings per common share of Ingredion (in dollars per share)	$ 1.68	$ 1.77
Antidilutive securities excluded in calculation of diluted EPS:
Antidilutive securities excluded from computation of earnings per share amount	0.3	0.3

Accumulated Other Comprehensive Loss By Equity Component (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Accumulated Other Comprehensive Loss
Balance at the beginning of the period	$ (1,071)
Gains / (loss) on cash-flow hedges, net of income tax effect of $3 and $6, respectively	5	$ (11)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $1 and $3, respectively	3	7
Currency translation adjustment	40	39
Balance at end of the period	(1,023)
Income tax effect of accumulated other comprehensive gain (loss)
Gains / (loss) on cash-flow hedges, net of income tax effect	(3)	6
Amount of losses on cash flow hedges reclassified to earnings, income tax effect	(1)	(3)
Cumulative Translation Adjustment
Accumulated Other Comprehensive Loss
Balance at the beginning of the period	(1,008)	(1,025)
Currency translation adjustment	40	39
Balance at end of the period	(968)	(986)
Deferred Gain/(Loss) on Hedging Activities
Accumulated Other Comprehensive Loss
Balance at the beginning of the period	(7)	(29)
Gains / (loss) on cash-flow hedges, net of income tax effect of $3 and $6, respectively	5	(11)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $1 and $3, respectively	3	7
Balance at end of the period	1	(33)
Income tax effect of accumulated other comprehensive gain (loss)
Gains / (loss) on cash-flow hedges, net of income tax effect	(3)	6
Amount of losses on cash flow hedges reclassified to earnings, income tax effect	1
Pension Postretirement Adjustment
Accumulated Other Comprehensive Loss
Balance at the beginning of the period	(56)	(47)
Balance at end of the period	(56)	(47)
Unrealized Loss on Investment
Accumulated Other Comprehensive Loss
Balance at the beginning of the period		(1)
Balance at end of the period		(1)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Loss
Balance at the beginning of the period	(1,071)	(1,102)
Gains / (loss) on cash-flow hedges, net of income tax effect of $3 and $6, respectively	5	(11)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $1 and $3, respectively	3	7
Currency translation adjustment	40	39
Balance at end of the period	$ (1,023)	$ (1,067)

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Consolidated Balance Sheets
Property, plant and equipment - accumulated depreciation (in dollars)	$ 2,885	$ 2,826
Other intangible assets - accumulated amortization (in dollars)	$ 114	$ 106
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	6,202,224	5,396,526

Consolidated Statement of Redeemable Equity $ in Millions	USD ($)
Beginning Balance at Dec. 31, 2015	$ 24
Consolidated Statements of Equity and Redeemable Equity
Share-based compensation, net of issuance	(7)
Ending Balance at Mar. 31, 2016	17
Beginning Balance at Dec. 31, 2016	30
Consolidated Statements of Equity and Redeemable Equity
Share-based compensation, net of issuance	(6)
Ending Balance at Mar. 31, 2017	$ 24

Financial Instruments, Derivatives and Hedging Activities Balance Sheet Location (Details) lb in Millions, gal in Millions, bu in Millions, MMBTU in Millions, $ in Millions	Mar. 31, 2017 USD ($) MMBTU lb gal bu	Dec. 31, 2016 USD ($)
Corn Commodity
Fair value of commodity contracts
Futures contract (in bushels for corn and gallons for ethanol) \| bu	99
Soy Bean Oil
Fair value of commodity contracts
Soybean oil futures contract (in pounds) \| lb	43
Natural Gas Commodity
Fair value of commodity contracts
Natural gas futures contract (in mmbtu) \| MMBTU	23
Ethanol Commodity
Fair value of commodity contracts
Futures contract (in bushels for corn and gallons for ethanol) \| gal	15
Designated as Hedging Instrument \| Commodity and Foreign Currency Contracts \| Accounts Receivable, Net
Fair value of commodity contracts
Fair value of assets	$ 29	$ 31
Designated as Hedging Instrument \| Commodity and Foreign Currency Contracts \| Accounts Payable and Accrued Liabilities
Fair value of commodity contracts
Fair value of liabilities	19	25
Designated as Hedging Instrument \| Commodity, foreign currency, and interest rate contracts \| Cash Flow Hedging
Fair value of commodity contracts
Fair value of assets	33	39
Fair value of liabilities	22	27
Designated as Hedging Instrument \| Commodity, foreign currency, and interest rate contracts \| Other Assets
Fair value of commodity contracts
Fair value of assets	4	8
Designated as Hedging Instrument \| Commodity, foreign currency, and interest rate contracts \| Non Current Liabilities
Fair value of commodity contracts
Fair value of liabilities	$ 3	$ 2

Financial Instruments, Derivatives and Hedging Activities Contracts (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Gains or losses on derivatives
Amount of Gains (Losses) Recognized in OCI on Derivatives	$ 8	$ (17)
Amount of Gains (Losses) Reclassified from AOCI into Income	(4)	(10)
Cost of Sales
Gains or losses on derivatives
Amount of Gains (Losses) Reclassified from AOCI into Income	(3)	(9)
Gross Profit
Gains or losses on derivatives
Amount of Gains (Losses) Reclassified from AOCI into Income		(1)
Financing Costs, Net
Gains or losses on derivatives
Amount of Gains (Losses) Reclassified from AOCI into Income	(1)
Commodity Contracts
Gains or losses on derivatives
Amount of Gains (Losses) Recognized in OCI on Derivatives	7	(18)
Foreign Currency Contracts
Gains or losses on derivatives
Amount of Gains (Losses) Recognized in OCI on Derivatives	1	$ 1
Cash Flow Hedging \| Commodity Contracts
Gains or losses on derivatives
Gains expected to be reclassified into earnings during the next 12 months on commodity hedging contracts, net of tax	6
Gains expected to be reclassified into earnings during the next twelve months on commodity hedging contracts, income tax effect	3
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
Losses expected to be reclassified into earnings during the next twelve months on settled Treasury Lock Agreements, income tax effect	$ (1)

Inventory (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Inventories
Finished and in process	$ 477	$ 478
Raw materials	304	260
Manufacturing supplies and other	54	51
Total inventories	$ 835	$ 789

Acquisitions By Acquisition (Details) - USD ($) $ in Millions		3 Months Ended
	Dec. 29, 2016	Mar. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Consideration net of cash		$ 13
Final purchase price allocation
Goodwill		$ 803	$ 784
TIC Gums
Business Acquisition [Line Items]
Consideration net of cash	$ 395
Final purchase price allocation
Working capital (excluding cash)	50
Property, plant and equipment	42
Identifiable intangible assets	117
Goodwill	186
Total final purchase price	$ 395

Acquisitions By Major Class (Details) - USD ($) $ in Millions			3 Months Ended
	Mar. 09, 2017	Nov. 29, 2016	Mar. 31, 2017	Mar. 31, 2016	Dec. 29, 2016
Other disclosures
Increase in cost of sales for fair value mark-up of acquired inventory			$ 5
TIC Gums
Other disclosures
Tangible assets					$ 42
Pre-tax acquisition and integration costs			$ 2
Kerr
Other disclosures
Pre-tax acquisition and integration costs				$ 1
Shandong Huanong
Other disclosures
Cash consideration		$ 12
Tangible assets		$ 9
Sun Flour
Other disclosures
Cash consideration	$ 13
Total purchase consideration	18
Accrued expenses	5
Intangible Assets, Net (Including Goodwill)	$ 21

Segment Information (Details) $ in Millions	3 Months Ended
Segment Information (Details) $ in Millions	Mar. 31, 2017 USD ($) segment	Mar. 31, 2016 USD ($)	Dec. 31, 2016 USD ($)
Segment information
Number of reportable business segments \| segment	4
Net sales	$ 1,453	$ 1,360
Operating income	195	200
Restructuring / impairment charges	(10)
Charge for fair value markup of acquired inventory	(5)
Total Assets	5,799		$ 5,782
Operating Segments
Segment information
Operating income	212	201
Total Assets	5,799		5,782
Operating Segments \| North America
Segment information
Net sales	881	841
Operating income	160	149
Total Assets	3,727		3,796
Operating Segments \| South America
Segment information
Net sales	255	215
Operating income	14	18
Total Assets	841		809
Operating Segments \| Asia Pacific
Segment information
Net sales	179	169
Operating income	30	28
Total Assets	754		697
Operating Segments \| EMEA
Segment information
Net sales	138	135
Operating income	28	26
Total Assets	477		$ 480
Corporate, Non -Segment
Segment information
Operating income	(20)	(20)
Restructuring / impairment charges	(10)
Acquisition / integration costs	(2)	$ (1)
Charge for fair value markup of acquired inventory	(5)
Employee Severance related costs
Segment information
Restructuring / impairment charges	$ (11)

Financial Instruments, Derivatives and Hedging Activities Recurring And Nonrecurring (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Fair value of assets and liabilities
Long-term debt	$ 1,998
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 1
Fair value of assets and liabilities
Available for sale securities	8	$ 7
Derivative assets	11	6
Derivative liabilities	5	11
Fair Value, Measurements, Recurring [Member] \| Fair Value, Inputs, Level 2
Fair value of assets and liabilities
Derivative assets	22	33
Derivative liabilities	17	16
Long-term debt	1,998	1,929
Fair Value, Measurements, Recurring [Member] \| Estimate of Fair Value Measurement
Fair value of assets and liabilities
Available for sale securities	8	7
Derivative assets	33	39
Derivative liabilities	22	27
Long-term debt	$ 1,998	$ 1,929

Financial Instruments, Derivatives and Hedging Activities Debt Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Financial Instruments, Derivatives and Hedging Activities
Carrying amount	$ 1,895	$ 1,850
Long-term debt	$ 1,998

Debt (Details) - USD ($)	Apr. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2014
Debt Instrument [Line Items]
Fair value adjustment related to hedged fixed rate debt		$ 3,000,000	$ 3,000,000
Long-term debt		1,895,000,000	1,850,000,000
Short-term borrowings		118,000,000	106,000,000
Total debt		$ 2,013,000,000	$ 1,956,000,000
Senior Notes 3.2 Percent Due October 1, 2026
Debt Instrument [Line Items]
Debt, interest rate (as a percent)		3.20%	3.20%
Long-term debt		$ 497,000,000	$ 496,000,000
Senior Notes 4.625 Percent Due November 1, 2020
Debt Instrument [Line Items]
Debt, interest rate (as a percent)		4.625%	4.625%
Aggregate principal Amount				$ 400,000,000
Long-term debt		$ 398,000,000	$ 398,000,000
Senior Notes 1.8 Percent Due September 25, 2017
Debt Instrument [Line Items]
Debt, interest rate (as a percent)		1.80%	1.80%
Aggregate principal Amount		$ 300,000,000
Long-term debt		$ 300,000,000	$ 299,000,000
Senior Notes 6.625 Percent Due April 15, 2037
Debt Instrument [Line Items]
Debt, interest rate (as a percent)		6.625%	6.625%
Long-term debt		$ 253,000,000	$ 254,000,000
Senior Notes 6.0 Percent Due April 15, 2017
Debt Instrument [Line Items]
Debt, interest rate (as a percent)		6.00%	6.00%
Long-term debt		$ 200,000,000	$ 200,000,000
Senior Notes 5.62 Percent Due March 25, 2020
Debt Instrument [Line Items]
Debt, interest rate (as a percent)		5.62%	5.62%
Long-term debt		$ 200,000,000	$ 200,000,000
Revolving Credit Agreement
Debt Instrument [Line Items]
Aggregate principal Amount	$ 200,000,000
Long-term debt		$ 44,000,000

Accumulated Other Comprehensive Loss Reclassifications (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Amount Reclassified from Accumulated Other Comprehensive Income
Gross profit	$ (352)	$ (339)
Financing costs, net	(21)	(14)
Reclassification out of Accumulated Other Comprehensive Income
Amount Reclassified from Accumulated Other Comprehensive Income
Total before tax reclassifications	(4)	(10)
Income tax benefit	1	3
Total after-tax reclassifications	(3)	(7)
Reclassification out of Accumulated Other Comprehensive Income \| Commodity and Foreign Currency Contracts
Amount Reclassified from Accumulated Other Comprehensive Income
Gross profit	(3)	$ (10)
Deferred Gain/(Loss) on Hedging Activities \| Reclassification out of Accumulated Other Comprehensive Income \| Interest Rate Contract
Amount Reclassified from Accumulated Other Comprehensive Income
Financing costs, net	$ (1)