0001628280-26-054722 | 10-Q | XBRL Viewer

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Equity - Performance Shares (Details) $ / shares in Units, shares in Thousands, $ in Millions	1 Months Ended	6 Months Ended
	Feb. 28, 2026	Jun. 30, 2026 USD ($) metric $ / shares shares
Performance Shares
Share-based compensation
Number of tranches \| metric		2
Granted (in shares)		116
Granted (in dollars per share) \| $ / shares		$ 136.63
Unrecognized compensation cost \| $		$ 15
Weighted-average period for amortization of unrecognized compensation cost		2 years 1 month 24 days
Forfeited (in shares)		15
Performance Shares \| 2023 Awards
Share-based compensation
Award pay out achieved	181.00%
Performance Shares \| 2024 Awards
Share-based compensation
Estimated pay out		150.00%
Performance shares, vesting based on TSR
Share-based compensation
Percentage of share-based compensation award		50.00%
Performance shares calculation period		3 years
Period of vesting		3 years
Performance shares, vesting based on TSR \| Minimum
Share-based compensation
Vesting rights, percentage		0.00%
Performance shares, vesting based on TSR \| Maximum
Share-based compensation
Vesting rights, percentage		200.00%
Performance shares, vesting based on adjusted ROIC
Share-based compensation
Percentage of share-based compensation award		50.00%
Performance shares calculation period		3 years
Period of vesting		3 years
Performance shares, vesting based on adjusted ROIC \| Minimum
Share-based compensation
Vesting rights, percentage		0.00%
Performance shares, vesting based on adjusted ROIC \| Maximum
Share-based compensation
Vesting rights, percentage		200.00%

Basis of Presentation and New Accounting Standards	6 Months Ended
Basis of Presentation and New Accounting Standards	Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and New Accounting Standards	Basis of Presentation and New Accounting Standards Unless the context otherwise requires, all references herein to the “Company,” “Ingredion,” “we,” “us,” and “our” shall mean Ingredion Incorporated and its consolidated subsidiaries. These statements should be read in conjunction with the consolidated financial statements and the related notes to those statements contained in Ingredion’s Annual Report on Form 10-K for the year ended December 31, 2025. The significant accounting policies and estimates used in preparing these Condensed Consolidated Financial Statements were applied on the same basis and consistent with those reflected in Ingredion’s Annual Report on Form 10-K for the year ended December 31, 2025. The unaudited Condensed Consolidated Financial Statements as of June 30, 2026 and for the second quarter of 2026 and 2025 included herein were prepared by us on the same basis as our audited Consolidated Financial Statements for the year ended December 31, 2025 and reflect all adjustments (consisting solely of normal recurring items unless otherwise noted) that are, in our opinion, necessary for the fair presentation of the Condensed Consolidated Statements of Income, Condensed Consolidated Statements of Comprehensive Income, Condensed Consolidated Balance Sheets, Condensed Consolidated Statements of Equity and Redeemable Equity, and Condensed Consolidated Statements of Cash Flows. The results for the interim period are not necessarily indicative of the results expected for the full year or any other future period. Certain prior period amounts have been reclassified to conform with current presentation. New Accounting Standards Not Yet Adopted In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosure (Subtopic 220-40). The amendments in this update enhance disclosures about a public business entity’s expenses and provide more detailed information about the types of expenses included in certain footnotes to our financial statements. This ASU is effective for annual periods beginning after December 15, 2026, with early adoption permitted. We are currently assessing the impact of this ASU on our Condensed Consolidated Financial Statements. In November 2025, the FASB issued ASU No. 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements. The new standard aligns hedge accounting with the economics of an entity’s risk management activities and amends the existing requirement that hedges of groups of individual forecasted transactions that use a single derivative as the hedging instrument must share the same risk exposure to be accounted as a cash flow hedge. Under the ASU, hedges of groups of individual forecasted transactions that use a single derivative as the hedging instrument need only share similar risk exposure to be accounted as a cash flow hedge, with the quantitative threshold consistent with the high effective threshold used in the assessment of cash flow hedges. The ASU also clarifies risk assessment approaches for risk exposures in a group of forecasted transactions. This ASU is effective for annual periods beginning after December 15, 2026, with early adoption permitted. We are currently assessing the impact of this ASU on our Condensed Consolidated Financial Statements. In May 2026, the FASB issued ASU No. 2026-02, Environmental Credits and Environmental Credit Obligations (Topic 818). The new standard establishes recognition, measurement, presentation and disclosure of environmental credits and environmental credit obligations. Under the ASU, environmental credits will be recognized if an environmental credit is used to settle an environmental credit obligation, the environmental credit transfers to the company in an exchange transaction, or the environmental credit is used in a nonreciprocal transfer. This ASU is effective for annual periods beginning after December 15, 2027, with early adoption permitted. We are currently assessing the impact of this ASU on our Condensed Consolidated Financial Statements.

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash from operating activities
Net income	$ 260	$ 397
Non-cash charges to net income:
Depreciation and amortization	110	108
Mechanical stores expense	38	32
Net (gain) on sale of business	(44)	0
Impairment charges	33	6
Foreign exchange losses, net	47	4
Other non-cash charges	7	18
Changes in working capital:
Accounts receivable and prepaid expenses	(224)	(216)
Inventories	1	3
Accounts payable and accrued liabilities	(8)	(28)
Margin accounts	(19)	(9)
Other	(78)	(53)
Cash provided by operating activities	123	262
Cash from investing activities
Capital expenditures and mechanical stores purchases, net	(210)	(193)
Proceeds from sales of businesses, net	139	12
Purchases of equity securities, net	(26)	(19)
Other	(5)	(3)
Cash used for investing activities	(102)	(203)
Cash from financing activities
Proceeds from borrowings	266	231
Payments on debt	(231)	(277)
Repurchases of common stock, net	(14)	(55)
Common stock activity for share-based compensation, net	(10)	(9)
Purchases of non-controlling interests	(7)	0
Dividends paid, including to non-controlling interests	(105)	(106)
Cash used for financing activities	(101)	(216)
Effects of foreign exchange rate changes on cash and cash equivalents	(2)	21
(Decrease) in cash and cash equivalents	(82)	(136)
Cash and cash equivalents, beginning of period	1,030	997
Cash and cash equivalents, end of period	$ 948	$ 861

Equity - Stock Option - Narrative (Details) - USD ($) shares in Thousands, $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Share-based compensation
Options granted (in shares)	0	158
Cash received from exercise of stock options	$ 1
Stock options
Share-based compensation
Term of award	10 years
Period of vesting	3 years
Unrecognized compensation cost	$ 1
Weighted-average period for amortization of unrecognized compensation cost	1 year 4 months 24 days

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Financing Arrangements

6 Months Ended

Jun. 30, 2026

Debt Disclosure [Abstract]

Financing Arrangements

Debt carrying amounts, net of related discounts, premiums and debt issuance costs, were as follows:


	As of June 30, 2026		As of December 31, 2025
2.900% senior notes due June 1, 2030	$	597	$	597
3.200% senior notes due October 1, 2026 (i)	500		499
3.900% senior notes due June 1, 2050	392		392
6.625% senior notes due April 15, 2037	253		253
Revolving credit agreement	—		—
Other long-term borrowings	—		1
Total long-term debt	1,742		1,742

Other short-term borrowings	41		48
Delayed draw term loan facility	—		—
Bridge facility	—		—
Total short-term borrowings	41		48
Total debt	$	1,783	$	1,790

_________________

(i)The senior notes due October 1, 2026 are classified as long-term debt as we have the intent and ability to refinance them on a long-term basis.

On June 8, 2026, we entered into a 364-day bridge loan agreement (the “Bridge Loan Agreement”), under which lenders committed to provide us with a 364-day senior unsecured bridge term loan facility in the amount of $4,225 million (the “Bridge Facility”), subsequently reduced to $2,750 million by the term loan facility we entered into on June 24, 2026, described below, to support financing the pending acquisition of Tate & Lyle, described in Note 2, Acquisitions and Divestitures. Proceeds of borrowings under the Bridge Facility will be available to fund payment of the cash consideration for the pending acquisition, refinancing, repayment and discharge of certain outstanding indebtedness of Tate & Lyle and its subsidiaries, and payment of fees and other costs and expenses of the pending acquisition of Tate & Lyle. Commitments under the Bridge Loan Agreement will automatically terminate on February 2, 2028, subject to extension in specified circumstances no later than August 3, 2028. Loans will bear interest at variable rates based on a specified base rate or a specified Secured Overnight Financing Rate (“SOFR”) plus an applicable margin. The Bridge Loan Agreement contains customary representations, covenants and events of default substantially similar to those under our revolving credit facility agreement. No amounts were outstanding under the Bridge Facility as of June 30, 2026.

On June 24, 2026, we entered into a delayed draw term loan agreement (the “DDTL Agreement”), under which lenders have committed to provide us with a senior unsecured delayed draw term loan facility with an initial committed borrowing availability of $1,475 million (the “DDTL Facility”), which reduced commitments under the Bridge Facility by a corresponding amount. Proceeds of borrowings under the DDTL Facility will be available for the same uses related to the pending acquisition of Tate & Lyle as proceeds of borrowings under the Bridge Facility. Commitments under the DDTL Agreement will automatically terminate on February 2, 2028, subject to extension in specified circumstances no later than August 3, 2028. Loans will bear interest at variable rates based on a base rate or a specified SOFR plus an applicable margin. If borrowings are made under the DDTL Facility, up to $500 million of loans will mature three years following the funding date and up to $975 million of loans will mature five years following the funding date. The DDTL Agreement contains customary representations, covenants and events of default substantially similar to those under the Bridge Facility and our revolving credit facility agreement. No amounts were outstanding under the DDTL Facility as of June 30, 2026.

Other short-term borrowings as of June 30, 2026 and December 31, 2025 primarily include amounts outstanding under various unsecured local country operating lines of credit.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities measured at fair value on a recurring basis

Assets and liabilities measured at fair value on a recurring basis were as follows:


	As of June 30, 2026								As of December 31, 2025
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Marketable securities	$	28	$	—	$	—	$	28	$	6	$	—	$	—	$	6
Derivative assets	5		101		—		106		22		2		—		24
Derivative liabilities	21		107		—		128		18		10		—		28
Long-term debt	—		1,640		—		1,640		—		1,649		—		1,649

Supplementary Information (Tables)

6 Months Ended

Jun. 30, 2026

Supplementary Information

Schedule of accounts receivable, net

Accounts receivable, net was as follows:


	As of June 30, 2026		As of December 31, 2025
Accounts receivable – trade	$	1,228	$	1,031
Accounts receivable – other	172		164
Allowance for credit losses	(14)		(10)
Total accounts receivable, net	$	1,386	$	1,185

Schedule of inventories

Inventories were as follows:


	As of June 30, 2026		As of December 31, 2025
Finished and in process	$	738	$	753
Raw materials	286		389
Manufacturing supplies	85		85
Total inventories	$	1,109	$	1,227

Pension and Other Postretirement Benefits - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Postemployment Retirement Benefits
Benefit plans
Interest cost	$ 1	$ 1	$ 2	$ 2
Amortization of prior service cost	1	0	1	0
U.S. Plans \| Pension Plan
Benefit plans
Cash contribution expected during fiscal year	1		1
Cash contributions			1
Interest cost	4	4	7	7
Non-U.S. Plans \| Pension Plan
Benefit plans
Cash contribution expected during fiscal year	4		4
Cash contributions			2
Interest cost	$ 3	$ 2	$ 5	$ 4

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

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+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Derivative Instruments and Hedging Activities - Narrative (Details) £ in Millions, bu in Millions, MMBTU in Millions, $ in Millions		6 Months Ended
	Jun. 05, 2026 USD ($)	Jun. 30, 2026 USD ($) MMBTU bu	Jun. 05, 2026 GBP (£)	Dec. 31, 2025 USD ($) MMBTU bu
Hedging relationships
Loss expected to be reclassified into earnings during the next twelve months		$ (22)
Corn commodity
Hedging relationships
Futures contract (in bushels for corn) \| bu		77		84
Natural gas commodity
Hedging relationships
Natural gas swap contract (in mmbtu of natural gas) \| MMBTU		34		26
Foreign Currency \| Tate & Lyle PLC
Hedging relationships
Derivative notional amount \| £			£ 2,793
Payments of derivative contracts	$ 57
Foreign Currency \| Not designated as hedging Iinstrument \| Short
Hedging relationships
Derivative notional amount		$ 4,225		$ 395
Foreign Currency \| Not designated as hedging Iinstrument \| Long
Hedging relationships
Derivative notional amount		3,651		192
Foreign Currency \| Cash flow hedging
Hedging relationships
Tax effect of gains (losses) on cash flow hedges		1		3
Foreign Currency \| Cash flow hedging \| Designated as hedging instrument \| Short
Hedging relationships
Derivative notional amount		246		425
Foreign Currency \| Cash flow hedging \| Designated as hedging instrument \| Long
Hedging relationships
Derivative notional amount		213		358
Commodity \| Cash flow hedging
Hedging relationships
Tax effect of gains (losses) on cash flow hedges		$ 8		$ 3

Financing Arrangements - Schedule of Debt (Details) - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Financing Arrangements
Total long-term debt	$ 1,742,000,000	$ 1,742,000,000
Short-term borrowings	41,000,000	48,000,000
Total debt	$ 1,783,000,000	1,790,000,000
2.900% senior notes due June 1, 2030
Financing Arrangements
Debt, interest rate	2.90%
Total long-term debt	$ 597,000,000	597,000,000
3.200% senior notes due October 1, 2026
Financing Arrangements
Debt, interest rate	3.20%
Total long-term debt	$ 500,000,000	499,000,000
3.900% senior notes due June 1, 2050
Financing Arrangements
Debt, interest rate	3.90%
Total long-term debt	$ 392,000,000	392,000,000
6.625% senior notes due April 15, 2037
Financing Arrangements
Debt, interest rate	6.625%
Total long-term debt	$ 253,000,000	253,000,000
Revolving credit agreement
Financing Arrangements
Total long-term debt	0	0
Other long-term borrowings
Financing Arrangements
Total long-term debt	0	1,000,000
Other short-term borrowings
Financing Arrangements
Short-term borrowings	41,000,000	48,000,000
Delayed Draw Term Loan Facility \| Unsecured Debt
Financing Arrangements
Short-term borrowings	0	0
Bridge facility \| Bridge Loan
Financing Arrangements
Short-term borrowings	$ 0	$ 0

Derivative Instruments and Hedging Activities - Balance sheet location (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Fair value of derivatives
Assets	$ 106	$ 24
Liabilities	128	28
Designated Hedging Instruments
Fair value of derivatives
Assets	11	17
Liabilities	46	24
Net Assets/(Liabilities)	(35)	(7)
Designated Hedging Instruments \| Balance Sheet Location [Axis]: us-gaap:AccountsPayableCurrent
Fair value of derivatives
Liabilities	41	24
Designated Hedging Instruments \| Balance Sheet Location [Axis]: us-gaap:AccountsReceivableNetCurrent
Fair value of derivatives
Assets	8	17
Designated Hedging Instruments \| Balance Sheet Location [Axis]: us-gaap:LiabilitiesOtherThanLongtermDebtNoncurrent
Fair value of derivatives
Liabilities	5	0
Designated Hedging Instruments \| Balance Sheet Location [Axis]: us-gaap:OtherAssetsNoncurrent
Fair value of derivatives
Assets	3	0
Designated Hedging Instruments \| Commodity
Fair value of derivatives
Assets	6	4
Liabilities	34	13
Net Assets/(Liabilities)	(28)	(9)
Designated Hedging Instruments \| Commodity \| Balance Sheet Location [Axis]: us-gaap:AccountsPayableCurrent
Fair value of derivatives
Liabilities	30	13
Designated Hedging Instruments \| Commodity \| Balance Sheet Location [Axis]: us-gaap:AccountsReceivableNetCurrent
Fair value of derivatives
Assets	4	4
Designated Hedging Instruments \| Commodity \| Balance Sheet Location [Axis]: us-gaap:LiabilitiesOtherThanLongtermDebtNoncurrent
Fair value of derivatives
Liabilities	4	0
Designated Hedging Instruments \| Commodity \| Balance Sheet Location [Axis]: us-gaap:OtherAssetsNoncurrent
Fair value of derivatives
Assets	2	0
Designated Hedging Instruments \| Foreign Currency
Fair value of derivatives
Assets	5	13
Liabilities	12	11
Net Assets/(Liabilities)	(7)	2
Designated Hedging Instruments \| Foreign Currency \| Balance Sheet Location [Axis]: us-gaap:AccountsPayableCurrent
Fair value of derivatives
Liabilities	11	11
Designated Hedging Instruments \| Foreign Currency \| Balance Sheet Location [Axis]: us-gaap:AccountsReceivableNetCurrent
Fair value of derivatives
Assets	4	13
Designated Hedging Instruments \| Foreign Currency \| Balance Sheet Location [Axis]: us-gaap:LiabilitiesOtherThanLongtermDebtNoncurrent
Fair value of derivatives
Liabilities	1	0
Designated Hedging Instruments \| Foreign Currency \| Balance Sheet Location [Axis]: us-gaap:OtherAssetsNoncurrent
Fair value of derivatives
Assets	1	0
Non-Designated Hedging Instruments
Fair value of derivatives
Assets	95	7
Liabilities	82	4
Net Assets/(Liabilities)	13	3
Non-Designated Hedging Instruments \| Balance Sheet Location [Axis]: us-gaap:AccountsPayableCurrent
Fair value of derivatives
Liabilities	9	4
Non-Designated Hedging Instruments \| Balance Sheet Location [Axis]: us-gaap:AccountsReceivableNetCurrent
Fair value of derivatives
Assets	13	6
Non-Designated Hedging Instruments \| Balance Sheet Location [Axis]: us-gaap:LiabilitiesOtherThanLongtermDebtNoncurrent
Fair value of derivatives
Liabilities	73	0
Non-Designated Hedging Instruments \| Balance Sheet Location [Axis]: us-gaap:OtherAssetsNoncurrent
Fair value of derivatives
Assets	82	1
Non-Designated Hedging Instruments \| Commodity
Fair value of derivatives
Assets	2	1
Liabilities	4	1
Net Assets/(Liabilities)	(2)	0
Non-Designated Hedging Instruments \| Commodity \| Balance Sheet Location [Axis]: us-gaap:AccountsPayableCurrent
Fair value of derivatives
Liabilities	4	1
Non-Designated Hedging Instruments \| Commodity \| Balance Sheet Location [Axis]: us-gaap:AccountsReceivableNetCurrent
Fair value of derivatives
Assets	2	1
Non-Designated Hedging Instruments \| Commodity \| Balance Sheet Location [Axis]: us-gaap:LiabilitiesOtherThanLongtermDebtNoncurrent
Fair value of derivatives
Liabilities	0	0
Non-Designated Hedging Instruments \| Commodity \| Balance Sheet Location [Axis]: us-gaap:OtherAssetsNoncurrent
Fair value of derivatives
Assets	0	0
Non-Designated Hedging Instruments \| Foreign Currency
Fair value of derivatives
Assets	93	6
Liabilities	78	3
Net Assets/(Liabilities)	15	3
Non-Designated Hedging Instruments \| Foreign Currency \| Balance Sheet Location [Axis]: us-gaap:AccountsPayableCurrent
Fair value of derivatives
Liabilities	5	3
Non-Designated Hedging Instruments \| Foreign Currency \| Balance Sheet Location [Axis]: us-gaap:AccountsReceivableNetCurrent
Fair value of derivatives
Assets	11	5
Non-Designated Hedging Instruments \| Foreign Currency \| Balance Sheet Location [Axis]: us-gaap:LiabilitiesOtherThanLongtermDebtNoncurrent
Fair value of derivatives
Liabilities	73	0
Non-Designated Hedging Instruments \| Foreign Currency \| Balance Sheet Location [Axis]: us-gaap:OtherAssetsNoncurrent
Fair value of derivatives
Assets	$ 82	$ 1

Derivative Instruments and Hedging Activities - Schedule of Cash Flow Hedges Included in AOCI (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
(Losses) Gains included in AOCL as of	$ (848)	$ (937)
Cash flow hedging
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
(Losses) Gains included in AOCL as of	(25)	(5)
Cash flow hedging \| Commodity contracts
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
(Losses) Gains included in AOCL as of	(22)	(7)
Tax effect of gains (losses) on cash flow hedges	8	3
Cash flow hedging \| Foreign currency contracts
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
(Losses) Gains included in AOCL as of	(2)	3
Tax effect of gains (losses) on cash flow hedges	1	3
Cash flow hedging \| Interest rate contracts
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
(Losses) Gains included in AOCL as of	(1)	(1)
Tax effect of gains (losses) on cash flow hedges	$ 1	$ 1

- Definition

Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-Publisher FASB
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+ Details

Acquisitions and Divestitures

6 Months Ended

Jun. 30, 2026

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Acquisitions and Divestitures

Pending Tate & Lyle Acquisition

On June 8, 2026, we reached an agreement with the board of directors of Tate & Lyle PLC (“Tate & Lyle”), a global specialty food and beverage solutions business incorporated in England and Wales, on terms of an all-cash recommended offer for us to acquire all of the issued and to be issued ordinary share capital of Tate & Lyle for approximately £2.7 billion, or approximately $3.5 billion based on the British pound sterling to U.S. dollar exchange rate as of June 30,

2026 (the “pending acquisition”). Completion of the pending acquisition is subject to customary closing conditions, including regulatory approvals and court approval in the United Kingdom, and is expected to be implemented through a court-sanctioned scheme of arrangement under Part 26 of the UK Companies Act 2006. Subject to the satisfaction or waiver of the closing conditions, we expect the pending acquisition to be completed in the second half of 2027. Immediately following completion of the pending acquisition, Tate & Lyle will be a subsidiary of ours.

In connection with the pending acquisition, to finance the cash consideration and specified expenses of the transaction, we entered into a 364-day bridge facility and loan agreement and a delayed draw term facility and loan agreement, as described in Note 6, Financing Arrangements. We also entered into derivative instruments to mitigate exposure to British pound sterling for the cash consideration payable in the pending acquisition, as described in Note 4, Derivative Instruments and Hedging Activities. We have incurred $53 million of acquisition-related costs, including $47 million of acquisition-related foreign exchange hedging losses, during the quarter and year-to-date ended June 30, 2026.

Pakistan Business Divestiture

On June 30, 2026, we completed the previously announced sale of 51 percent of Rafhan Maize Products Co. Ltd. (the “Pakistan business”) to Nishat Group, a diversified group of companies headquartered in Lahore, Pakistan. We received gross cash consideration of approximately $165 million, or $127 million of cash after deconsolidation, and recognized a $44 million net gain on sale of business on our Condensed Consolidated Statements of Income. In 2025, the Pakistan business, which was not a reportable segment and thus included in All Other, generated approximately $250 million of net sales and $35 million of operating income. The major classes of assets and liabilities sold consisted of the following:


	As of June 30, 2026
Cash and cash equivalents	$	38
Accounts receivable, net	21
Inventories	123

Property, plant and equipment, net	49
Other non-current assets	3
Total assets	$	234

Short-term borrowings	$	44
Accounts payable	15
Accrued liabilities	55
Other non-current liabilities	8
Total Liabilities	$	122

Net assets sold	$	112

As part of the sale, we retained a minority ownership interest of approximately 20 percent in the Pakistan business and will account for our retained interest under the equity method of accounting, as described in Note 3, Investments.

PureCircle Acquisition

In the first quarter of 2026, we purchased the remaining shares of PureCircle Limited (“PureCircle”) from minority shareholders for $7 million, which increased our ownership to 100 percent.

South Korea Business Divestiture

During the first quarter of 2025 and 2026, we received the first and second installment payments of 18 billion South Korean won, or $12 million, of consideration for the February 1, 2024 sale of our South Korea business. We expect to receive the final installment payment of 18 billion South Korean won, or $12 million, in February 2027, which we recorded in Accounts receivable, net on the Condensed Consolidated Balance Sheets as of June 30, 2026.

Acquisitions and Divestitures - Schedule of assets and liabilities held for sale (Details) - Disposal Group, Held-for-Sale, Not Discontinued Operations - Pakistan Business Divestiture $ in Millions	Jun. 30, 2026 USD ($)
Assets
Cash and cash equivalents	$ 38
Accounts receivable, net	21
Inventories	123
Property, plant and equipment, net	49
Other non-current assets	3
Total assets	234
Liabilities
Short-term borrowings	44
Accounts payable	15
Accrued liabilities	55
Other non-current liabilities	8
Total Liabilities	122
Net assets sold	$ 112

Financing Arrangements - Narrative (Details) - USD ($)	Jun. 24, 2026	Jun. 08, 2026	Jun. 30, 2026	Dec. 31, 2025
Long-term debt
Total debt			$ 1,783,000,000	$ 1,790,000,000
Short-term borrowings			41,000,000	48,000,000
Bridge facility \| Bridge Loan
Long-term debt
Debt instrument, term (in days)		364 days
Bridge loan agreement	$ 2,750,000,000	$ 4,225,000,000
Short-term borrowings			0	0
Delayed Draw Term Loan Facility \| Debt Instrument, Redemption, Period One
Long-term debt
Debt instrument, term (in days)	3 years
Delayed Draw Term Loan Facility \| Debt Instrument, Redemption, Period Two
Long-term debt
Debt instrument, term (in days)	5 years
Delayed Draw Term Loan Facility \| Unsecured Debt
Long-term debt
Bridge loan agreement	$ 1,475,000,000
Short-term borrowings			$ 0	$ 0
Delayed Draw Term Loan Facility \| Unsecured Debt \| Debt Instrument, Redemption, Period One
Long-term debt
Bridge loan agreement	500,000,000
Delayed Draw Term Loan Facility \| Unsecured Debt \| Debt Instrument, Redemption, Period Two
Long-term debt
Bridge loan agreement	$ 975,000,000

Equity - Restricted Stock Units (Details) - RSUs $ / shares in Units, shares in Thousands, $ in Millions	6 Months Ended
	Jun. 30, 2026 USD ($) $ / shares shares
Share-based compensation
Vesting terms	3 years
Vesting rights, percentage	33.33%
Number of Restricted Shares (in thousands)
Non-vested at the beginning of the period (in shares) \| shares	510
Granted (in shares) \| shares	215
Vested (in shares) \| shares	(167)
Cancelled (in shares) \| shares	(24)
Non-vested at the end of the period (in shares) \| shares	534
Weighted Average Fair Value per Share
Non-vested at the beginning of the period (in dollars per share) \| $ / shares	$ 112.44
Granted (in dollars per share) \| $ / shares	115.69
Vested (in dollars per share) \| $ / shares	99.11
Cancelled (in dollars per share) \| $ / shares	117.81
Non-vested at the end of the period (in dollars per share) \| $ / shares	$ 117.69
Other disclosures
Unrecognized compensation cost \| $	$ 26
Weighted-average period for amortization of unrecognized compensation cost	2 years

Segment Information (Tables)

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Schedule of segment reporting information by segment

The following tables present information about our Net sales, significant segment costs and adjusted operating income by reportable segment and All Other:























	Three Months Ended June 30, 2026
	T&HS		F&II–LATAM		F&II–U.S./Canada		All Other		Corporate		Total
Segment net sales	$	662	$	622	$	536	$	132	$	—
Inter-segment net sales	(35)		(11)		(48)		(8)		—
Net sales to unaffiliated customers	$	627	$	611	$	488	$	124	$	—	$	1,850
Segment cost of sales	$	434	$	462	$	408	$	99	$	—
Other operating expenses	76		31		22		19		41
Adjusted operating income (loss)	$	117	$	118	$	58	$	6	$	(41)	$	258
Unallocated (costs) (i)											(70)
Operating income											$	188

	Three Months Ended June 30, 2025
	T&HS		F&II–LATAM		F&II–U.S./Canada		All Other		Corporate		Total
Segment net sales	$	608	$	610	$	550	$	119	$	—
Inter-segment net sales	(9)		(14)		(27)		(4)		—
Net sales to unaffiliated customers	$	599	$	596	$	523	$	115	$	—	$	1,833
Segment cost of sales	$	407	$	434	$	417	$	98	$	—
Other operating expenses	81		35		20		18		50
Adjusted operating income (loss)	$	111	$	127	$	86	$	(1)	$	(50)	$	273
Unallocated (costs) (i)											(2)
Operating income											$	271






















	Six Months Ended June 30, 2026
	T&HS		F&II–LATAM		F&II–U.S./Canada		All Other		Corporate		Total
Segment net sales	$	1,288	$	1,211	$	1,038	$	257	$	—
Inter-segment net sales	(44)		(21)		(75)		(12)		—
Net sales to unaffiliated customers	$	1,244	$	1,190	$	963	$	245	$	—	$	3,642
Segment cost of sales	$	871	$	895	$	826	$	202	$	—
Other operating expenses	156		62		45		34		81
Adjusted operating income (loss)	$	217	$	233	$	92	$	9	$	(81)	$	470
Unallocated (costs) (i)											(79)
Operating income											$	391

	Six Months Ended June 30, 2025
	T&HS		F&II–LATAM		F&II–U.S./Canada		All Other		Corporate		Total
Segment net sales	$	1,219	$	1,196	$	1,103	$	240	$	—
Inter-segment net sales	(18)		(27)		(60)		(7)		—
Net sales to unaffiliated customers	$	1,201	$	1,169	$	1,043	$	233	$	—	$	3,646
Segment cost of sales	$	833	$	854	$	822	$	199	$	—
Other operating expenses	158		61		43		35		95
Adjusted operating income (loss)	$	210	$	254	$	178	$	(1)	$	(95)	$	546
Unallocated income (i)											1
Operating income											$	547


	Three Months Ended June 30,					Six Months Ended June 30,
(i) Unallocated (costs) income:		2026		2025			2026		2025
Acquisition/integration costs		$	(6)	$	—		$	(6)	$	—
Impairment charges		(31)		—			(31)		(6)
Restructuring costs		(14)		(3)			(25)		(4)
Other matters		(19)		1			(17)		11

Total unallocated (costs) income		$	(70)	$	(2)		$	(79)	$	1

Property, plant and equipment, net by reportable segment and All Other was as follows:


	As of June 30, 2026		As of December 31, 2025
Texture & Healthful Solutions	$	994	$	979
Food & Industrial Ingredients–LATAM	583		592
Food & Industrial Ingredients–U.S./Canada	644		612
All Other (i)	300		343
Total property, plant and equipment, net	$	2,521	$	2,526

_____________________

(i)For purposes of presentation, All Other includes Corporate assets.

- Definition

Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

+ Details

Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of cash flow hedges included in AOCI

The derivative instruments designated as cash flow hedges included in accumulated other comprehensive loss (“AOCL”) were as follows:


	(Losses) Gains included in AOCL as of
	June 30, 2026		December 31, 2025
Commodity, net of income tax effect of $8 and $3	$	(22)	$	(7)
Foreign currency, net of income tax effect of $1 and $3	(2)		3
Interest rate, net of income tax effect of $1	(1)		(1)
Total	$	(25)	$	(5)

Schedule of fair value and balance sheet location of derivative instruments

The fair value and balance sheet location of our derivative instruments presented gross on the Condensed Consolidated Balance Sheets, were as follows:


	Fair Value of Hedging Instruments as of June 30, 2026
	Designated Hedging Instruments						Non-Designated Hedging Instruments
Balance Sheet Location	Commodity		Foreign Currency		Total		Commodity		Foreign Currency		Total
Accounts receivable, net	$	4	$	4	$	8	$	2	$	11	$	13
Other non-current assets	2		1		3		—		82		82
Assets	6		5		11		2		93		95
Accounts payable	30		11		41		4		5		9
Other non-current liabilities	4		1		5		—		73		73
Liabilities	34		12		46		4		78		82
Net Assets/(Liabilities)	$	(28)	$	(7)	$	(35)	$	(2)	$	15	$	13


	Fair Value of Hedging Instruments as of December 31, 2025
	Designated Hedging Instruments						Non-Designated Hedging Instruments
Balance Sheet Location	Commodity		Foreign Currency		Total		Commodity		Foreign Currency		Total
Accounts receivable, net	$	4	$	13	$	17	$	1	$	5	$	6
Other non-current assets	—		—		—		—		1		1
Assets	4		13		17		1		6		7
Accounts payable	13		11		24		1		3		4
Other non-current liabilities	—		—		—		—		—		—
Liabilities	13		11		24		1		3		4
Net Assets/(Liabilities)	$	(9)	$	2	$	(7)	$	—	$	3	$	3

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

Additional information relating to our derivative instruments in cash flow hedging relationships were as follows:


	(Losses) Gains Recognized in OCL on Derivatives					(Losses) Gains Reclassified from AOCL into Income
Derivatives in Cash Flow Hedging Relationships	Three Months Ended June 30,				Income Statement Location	Three Months Ended June 30,
	2026		2025			2026		2025




Commodity	$	(35)	$	(24)	Cost of sales	$	(8)	$	4
Foreign currency	(4)		11		Net sales/Cost of sales	1		5
Total	$	(39)	$	(13)		$	(7)	$	9


	(Losses) Gains Recognized in OCL on Derivatives					(Losses) Gains Reclassified from AOCL into Income
Derivatives in Cash Flow Hedging Relationships	Six Months Ended June 30,				Income Statement Location	Six Months Ended June 30,
	2026		2025			2026		2025
Commodity	$	(25)	$	(11)	Cost of sales	$	(5)	$	1
Foreign currency	(9)		15		Net sales/Cost of sales	(2)		10

Total	$	(34)	$	4		$	(7)	$	11

Fair Value Measurements (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Fair value of assets and liabilities
Marketable securities	$ 28	$ 6
Derivative assets	106	24
Derivative liabilities	128	28
Long-term debt	1,640	1,649
Level 1
Fair value of assets and liabilities
Marketable securities	28	6
Derivative assets	5	22
Derivative liabilities	21	18
Long-term debt	0	0
Level 2
Fair value of assets and liabilities
Marketable securities	0	0
Derivative assets	101	2
Derivative liabilities	107	10
Long-term debt	1,640	1,649
Level 3
Fair value of assets and liabilities
Marketable securities	0	0
Derivative assets	0	0
Derivative liabilities	0	0
Long-term debt	$ 0	$ 0

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 942
-SubTopic 320
-Name Accounting Standards Codification
-Section 50
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- Definition

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+ Details

Equity - Schedule of Additional Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Equity [Abstract]
Weighted average grant date fair value of stock options granted (in dollars per share)	$ 0	$ 0	$ 0	$ 33.53
Total intrinsic value of stock options exercised	$ 0	$ 1	$ 0	$ 2

Segment Information

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Segment Information

We are principally engaged in the production and sale of starches and sweeteners for a wide range of industries. Our Texture & Healthful Solutions (“T&HS”) segment has a global focus and primarily manufactures texturizing food ingredients. Our Food & Industrial Ingredients–Latin America (“F&II–LATAM”) segment has a local focus and primarily manufactures food, ingredient, and industrial products, which we process from raw materials that we primarily source within South America and Mexico. Our Food & Industrial Ingredients–United States/Canada (“F&II–U.S./Canada”) segment has a local focus and primarily manufactures food, ingredient, and industrial products, which we process from raw materials sourced within the U.S. and Canada. All Other consists of the businesses of multiple operating segments that are not individually or collectively classified as reportable segments. Net sales from All Other are generated primarily by sweetener and starch sales by the Pakistan business, which is included in the below results through June 30, 2026, when we sold the majority ownership, sales of stevia and other ingredients from our PureCircle and Sugar Reduction businesses, and pea protein ingredients from our Protein Fortification business. Net sales by product are not presented because such presentation is not practicable.

Adjusted operating income presented by segment includes an arms-length profit margin for sales of manufactured products sold to other segments. We include specified and certain corporate costs in our reportable segments and All Other because the Chief Operating Decision Maker (“CODM”) evaluates each segment’s performance inclusive of these costs.

The following tables present information about our Net sales, significant segment costs and adjusted operating income by reportable segment and All Other:























	Three Months Ended June 30, 2026
	T&HS		F&II–LATAM		F&II–U.S./Canada		All Other		Corporate		Total
Segment net sales	$	662	$	622	$	536	$	132	$	—
Inter-segment net sales	(35)		(11)		(48)		(8)		—
Net sales to unaffiliated customers	$	627	$	611	$	488	$	124	$	—	$	1,850
Segment cost of sales	$	434	$	462	$	408	$	99	$	—
Other operating expenses	76		31		22		19		41
Adjusted operating income (loss)	$	117	$	118	$	58	$	6	$	(41)	$	258
Unallocated (costs) (i)											(70)
Operating income											$	188

	Three Months Ended June 30, 2025
	T&HS		F&II–LATAM		F&II–U.S./Canada		All Other		Corporate		Total
Segment net sales	$	608	$	610	$	550	$	119	$	—
Inter-segment net sales	(9)		(14)		(27)		(4)		—
Net sales to unaffiliated customers	$	599	$	596	$	523	$	115	$	—	$	1,833
Segment cost of sales	$	407	$	434	$	417	$	98	$	—
Other operating expenses	81		35		20		18		50
Adjusted operating income (loss)	$	111	$	127	$	86	$	(1)	$	(50)	$	273
Unallocated (costs) (i)											(2)
Operating income											$	271






















	Six Months Ended June 30, 2026
	T&HS		F&II–LATAM		F&II–U.S./Canada		All Other		Corporate		Total
Segment net sales	$	1,288	$	1,211	$	1,038	$	257	$	—
Inter-segment net sales	(44)		(21)		(75)		(12)		—
Net sales to unaffiliated customers	$	1,244	$	1,190	$	963	$	245	$	—	$	3,642
Segment cost of sales	$	871	$	895	$	826	$	202	$	—
Other operating expenses	156		62		45		34		81
Adjusted operating income (loss)	$	217	$	233	$	92	$	9	$	(81)	$	470
Unallocated (costs) (i)											(79)
Operating income											$	391

	Six Months Ended June 30, 2025
	T&HS		F&II–LATAM		F&II–U.S./Canada		All Other		Corporate		Total
Segment net sales	$	1,219	$	1,196	$	1,103	$	240	$	—
Inter-segment net sales	(18)		(27)		(60)		(7)		—
Net sales to unaffiliated customers	$	1,201	$	1,169	$	1,043	$	233	$	—	$	3,646
Segment cost of sales	$	833	$	854	$	822	$	199	$	—
Other operating expenses	158		61		43		35		95
Adjusted operating income (loss)	$	210	$	254	$	178	$	(1)	$	(95)	$	546
Unallocated income (i)											1
Operating income											$	547


	Three Months Ended June 30,					Six Months Ended June 30,
(i) Unallocated (costs) income:		2026		2025			2026		2025
Acquisition/integration costs		$	(6)	$	—		$	(6)	$	—
Impairment charges		(31)		—			(31)		(6)
Restructuring costs		(14)		(3)			(25)		(4)
Other matters		(19)		1			(17)		11

Total unallocated (costs) income		$	(70)	$	(2)		$	(79)	$	1

Property, plant and equipment, net by reportable segment and All Other was as follows:


	As of June 30, 2026		As of December 31, 2025
Texture & Healthful Solutions	$	994	$	979
Food & Industrial Ingredients–LATAM	583		592
Food & Industrial Ingredients–U.S./Canada	644		612
All Other (i)	300		343
Total property, plant and equipment, net	$	2,521	$	2,526

_____________________

(i)For purposes of presentation, All Other includes Corporate assets.

- Definition

The entire disclosure for segment reporting.

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Equity - Treasury Stock (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025	Nov. 03, 2025
Treasury stock:
Stock repurchase program, number of remaining shares available	7,300				7,300
Treasury Stock
Treasury stock:
Purchase of treasury stock (in shares)					120	409
Repurchases of common stock	$ 0	$ 14	$ 0	$ 55	$ 14	$ 55
2025 Repurchase Program
Treasury stock:
Stock repurchase program, number of shares authorized							8,000

- Definition

Number of shares that have been repurchased during the period and are being held in treasury.

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Equity impact of the cost of common and preferred stock that were repurchased during the period. Recorded using the cost method.

+ References + Details

Supplementary Information - Schedule of Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Supplementary Information
Finished and in process	$ 738	$ 753
Raw materials	286	389
Manufacturing supplies	85	85
Total inventories	$ 1,109	$ 1,227

Segment Information - Narrative (Details)	6 Months Ended
Segment Information - Narrative (Details)	Jun. 30, 2026 segment
Segment Reporting [Abstract]
Number of reportable segments	3

Commitment and Contingencies (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025	Nov. 17, 2025
Commitments and Contingencies
Operating lease not yet commenced, term of contract			25 years
Lease not yet commenced, amount			$ 145
Brazil \| Reduction in taxes \| Foreign Tax Authority
Commitments and Contingencies
Brazilian deferred tax credits	$ 13	$ 21
Brazil \| Reduction in taxes \| Foreign Tax Authority \| Balance Sheet Location [Axis]: us-gaap:AccountsReceivableNetCurrent
Commitments and Contingencies
Brazilian deferred tax credits	7
Brazil \| Reduction in taxes \| Foreign Tax Authority \| Balance Sheet Location [Axis]: us-gaap:OtherAssetsNoncurrent
Commitments and Contingencies
Brazilian deferred tax credits	$ 6

Equity - Stockholders Equity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025
Increase (Decrease) in Stockholders' Equity
Balance at beginning of period		$ 4,295			$ 4,295
Net income attributable to Ingredion	$ 114		$ 196		256	$ 393
Less: Net income attributable to non-controlling interests	(2)		(2)		(4)	(4)
Balance at end of period	4,524				4,524
Increase (Decrease) in Temporary Equity
Share-based payments subject to redemption, beginning balance	41	64	42	$ 60	64	60
Share-based compensation, net of issuance	8	(23)	9	(18)	(15)	(9)
Share-based payments subject to redemption, ending balance	49	41	51	42	49	51
Redeemable non-controlling interests, beginning balance	0	7	8	7	7	7
Purchases of non-controlling interests		(7)			(7)
Other comprehensive income			(1)	1
Redeemable non-controlling interests, ending balance	$ 0	$ 0	$ 7	$ 8	0	7
Dividends declared (in dollars per share)	$ 0.82	$ 0.82	$ 0.80	$ 0.80
Common Stock
Increase (Decrease) in Stockholders' Equity
Balance at beginning of period	$ 1	$ 1	$ 1	$ 1	1	1
Balance at end of period	1	1	1	1	1	1
Additional Paid-In Capital
Increase (Decrease) in Stockholders' Equity
Balance at beginning of period	1,162	1,155	1,158	1,152	1,155	1,152
Share-based compensation, net of issuance	1	7	2	6	8	8
Balance at end of period	1,163	1,162	1,160	1,158	1,163	1,160
Treasury Stock
Increase (Decrease) in Stockholders' Equity
Balance at beginning of period	(1,553)	(1,555)	(1,393)	(1,355)	(1,555)	(1,355)
Repurchases of common stock, net	0	(14)	0	(55)	(14)	(55)
Share-based compensation, net of issuance	0	16	2	17	16	19
Balance at end of period	(1,553)	(1,553)	(1,391)	(1,393)	(1,553)	(1,391)
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity
Balance at beginning of period	(927)	(937)	(1,025)	(1,086)	(937)	(1,086)
Other comprehensive income	79	10	72	61	89	133
Balance at end of period	(848)	(927)	(953)	(1,025)	(848)	(953)
Retained Earnings
Increase (Decrease) in Stockholders' Equity
Balance at beginning of period	5,700	5,610	5,236	5,092	5,610	5,092
Net income attributable to Ingredion	114	142	196	197	256	393
Dividends declared, common stock	(53)	(52)	(52)	(53)	(105)	(105)
Balance at end of period	5,761	5,700	5,380	5,236	5,761	5,380
Non- Redeemable Non- Controlling Interests
Increase (Decrease) in Stockholders' Equity
Balance at beginning of period	22	21	21	19	21	19
Less: Net income attributable to non-controlling interests	2	2	2	2	4	4
Dividends declared, common stock	(2)		(2)		(2)	(2)
Sale of business					(23)
Other comprehensive income	1	(1)
Balance at end of period	$ 0	$ 22	$ 21	$ 21	$ 0	$ 21

Equity

6 Months Ended

Jun. 30, 2026

Equity [Abstract]

Equity

Treasury Stock: On November 3, 2025, the Board of Directors approved a stock repurchase program authorizing us to purchase up to 8.0 million shares of our outstanding common stock until December 31, 2028. We are not obligated to repurchase any shares under the authorization, and the repurchase program may be suspended, discontinued or modified at any time, for any reason and without notice. The parameters of the repurchase program are not established solely with reference to the dilutive impact of shares issued under our stock incentive plan, but we expect that, over time, share repurchases will offset the dilutive impact of shares issued under the plan.

For year-to-date 2026, we repurchased 120 thousand outstanding shares of common stock in open market transactions at a net cost of $14 million. During the second quarter of 2026, there were no repurchases of outstanding shares of common stock in open market transactions. For year-to-date 2025, we repurchased 409 thousand outstanding shares of common stock in open market transactions at a net cost of $55 million. During the second quarter of 2025, there were no repurchases of outstanding shares of common stock in open market transactions. As of June 30, 2026, we had 7.3 million shares available for repurchase under the stock repurchase program.

Share-based Payments: Share-based compensation expense was as follows:


	Three Months Ended June 30,					Six Months Ended June 30,
		2026		2025			2026		2025
Restricted stock units (“RSUs”):
Pre-tax compensation expense		$	6	$	5		$	12	$	12
Income tax effect		—		(1)			(1)		(2)
RSUs, net of income taxes		6		4			11		10

Performance shares and other share-based awards:
Pre-tax compensation expense		2		4			6		9
Income tax effect		1		—			—		—
Performance shares and other share-based awards, net of income taxes		3		4			6		9

Stock options:
Pre-tax compensation expense		—		2			—		3
Income tax effect		—		—			—		—
Stock options, net of income taxes		—		2			—		3

Total share-based compensation:
Pre-tax compensation expense		8		11			18		24
Income tax effect		1		(1)			(1)		(2)
Total share-based compensation expense, net of income taxes		$	9	$	10		$	17	$	22

Restricted Stock Units: We have granted restricted stock units (“RSUs”) to certain key employees. The RSUs are primarily subject to either cliff vesting (generally after three years) or three-year graded vesting (vesting one-third each year), provided the employee remains in our service. The fair value of the RSUs is determined based upon the number of shares granted and the quoted market price of our common stock at the grant date.

RSU activity for year-to-date 2026 was as follows:


	Number of Restricted Shares (in thousands)	Weighted Average Fair Value per Share
Non-vested as of December 31, 2025	510	$	112.44
Granted	215	115.69
Vested	(167)	99.11
Cancelled	(24)	117.81
Non-vested as of June 30, 2026	534	$	117.69

As of June 30, 2026, the total remaining unrecognized compensation cost related to RSUs was $26 million, which will be amortized on a weighted-average basis over approximately 2.0 years.

Performance Shares: We have a long-term incentive plan for senior management in the form of performance share awards. The vesting of the performance shares is generally based on two performance metrics. Fifty percent of the performance shares awarded vest based on our total shareholder return as compared to the total shareholder return of our performance peer group, and the remaining fifty percent vest based on the calculation of our three-year average Adjusted Return on Invested Capital (“Adjusted ROIC”) against an established Adjusted ROIC target.

For the 2026 performance shares awarded based on our total shareholder return, the number of shares that ultimately vest can range from zero to 200 percent of the grant depending on our total shareholder return as compared to the total shareholder return of our performance peer group. The share award vesting will be calculated at the end of the three-year period and is subject to approval by management and the People, Culture and Compensation Committee (“Compensation Committee”) of the Board of Directors. Compensation expense is based on the fair value of the performance shares at the grant date, established using a Monte Carlo simulation model. We amortize the total compensation expense for these awards over a three-year graded vesting schedule.

For the 2026 performance shares awarded based on Adjusted ROIC, the number of shares that ultimately vest can range from zero to 200 percent of the grant depending on our Adjusted ROIC performance against the target. The share award vesting will be calculated at the end of the three-year period and is subject to approval by management and the Compensation Committee. We base compensation expense on the market price of our common stock on the grant date and the final number of shares that ultimately vest. We estimate the potential share vesting at least annually to adjust the compensation expense for these awards over the vesting period to reflect our estimated Adjusted ROIC performance against the target. We amortize the total compensation expense for these awards over a three-year graded vesting schedule.

For year-to-date 2026, we awarded 116 thousand performance shares at a weighted average fair value of $136.63 per share. As of June 30, 2026, the unrecognized compensation cost related to these awards was $15 million, which we will amortize over the remaining service period of 2.15 years. The 2023 performance share awards that vested in February 2026 achieved a 181 percent payout of the granted performance shares. As of June 30, 2026, we estimate the 2024 performance share awards will pay out at 150 percent. For year-to-date 2026, fifteen thousand shares were forfeited.

Stock Options: Under our 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. We generally recognize compensation expense on a straight-line basis for all awards over the employee’s vesting period. We estimate a forfeiture rate at the time of grant and update the estimate throughout the vesting period of the stock options within the amount of compensation costs recognized in each period.

We granted 158 thousand shares of stock options to purchase for year-to-date 2025 and did not grant any stock options for year-to-date 2026. We estimated the fair value of each option grant by using the Black-Scholes option-pricing model with the following assumptions for 2025:


			Six Months Ended June 30, 2025

Expected life (in years)			5.5
Risk-free interest rate			4.1%
Expected volatility			28.2%
Expected dividend yield			2.5%

The expected life of options represents the weighted average period that we expect options granted to be outstanding in view of vesting schedules and our historical exercise patterns. The risk-free interest rate is based on the U.S. 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 our common stock, and dividend yields are based on our dividend yield at the date of issuance.

Stock option activity for year-to-date 2026 was as follows:


	Number of Options (in thousands)	Weighted Average Exercise Price per Share		Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in millions)
Outstanding as of December 31, 2025	1,269	$	105.75	5.3	$	13
Granted	—	—
Exercised	(12)	99.75
Cancelled	(15)	121.85
Outstanding as of June 30, 2026	1,242	$	105.61	4.8	$	3
Exercisable as of June 30, 2026	1,106	$	103.47	4.4	$	3

For year-to-date 2026, cash received from the exercise of stock options was $1 million. As of June 30, 2026, the unrecognized compensation cost related to non-vested stock options totaled $1 million, which we expect to amortize over the weighted-average period of approximately 1.4 years.

Additional information pertaining to stock option activity was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Weighted average grant date fair value of stock options granted (per share)	$	—	$	—	$	—	$	33.53
Total intrinsic value of stock options exercised	—		1		—		2

Accumulated Other Comprehensive Loss: A summary of accumulated other comprehensive loss for year-to-date 2026 and 2025 was as follows:


	Cumulative Translation Adjustment		Hedging Activities		Pension and Postretirement Adjustment		AOCL
Balance as of December 31, 2025	$	(899)	$	(5)	$	(33)	$	(937)
Other comprehensive income before reclassification adjustments	109		(34)		—		75
Loss reclassified from AOCL	—		7		—		7
Tax effect	—		7		—		7
Net other comprehensive income (loss)	109		(20)		—		89
Balance as of June 30, 2026	$	(790)	$	(25)	$	(33)	$	(848)


	Cumulative Translation Adjustment		Hedging Activities		Pension and Postretirement Adjustment		AOCL
Balance as of December 31, 2024	$	(1,061)	$	4	$	(29)	$	(1,086)
Other comprehensive income before reclassification adjustments	138		4		—		142
(Income) reclassified from AOCL	—		(11)		—		(11)
Tax effect	—		(2)		—		(2)
Net other comprehensive income (loss)	138		(5)		—		133
Balance as of June 30, 2025	$	(923)	$	(1)	$	(29)	$	(953)

Supplemental Information: The following Condensed Consolidated Statements of Equity and Redeemable Equity present information about the dividends per share for common stock for the periods indicated:


	Total Equity														Share-based Payments Subject to Redemption		Redeemable Non- Controlling Interests
	Preferred Stock		Common Stock		Additional Paid-In Capital		Treasury Stock		Accumulated Other Comprehensive Loss		Retained Earnings		Non- Redeemable Non- Controlling Interests
Balance as of December 31, 2025	$	—	$	1	$	1,155	$	(1,555)	$	(937)	$	5,610	$	21	$	64	$	7
Net income attributable to Ingredion	—		—		—		—		—		142		—		—		—
Net income attributable to non-controlling interests	—		—		—		—		—		—		2		—		—
Dividends declared, common stock ($0.82/share)	—		—		—		—		—		(52)		—		—		—

Repurchases of common stock, net	—		—		—		(14)		—		—		—		—		—

Share-based compensation, net of issuance	—		—		7		16		—		—		—		(23)		—
Purchases of non-controlling interests	—		—		—		—		—		—		—		—		(7)
Other comprehensive income (loss)	—		—		—		—		10		—		(1)		—		—
Balance as of March 31, 2026	$	—	$	1	$	1,162	$	(1,553)	$	(927)	$	5,700	$	22	$	41	$	—
Net income attributable to Ingredion	—		—		—		—		—		114		—		—		—
Net income attributable to non-controlling interests	—		—		—		—		—		—		2		—		—
Dividends declared, common stock ($0.82/share)	—		—		—		—		—		(53)		—		—		—
Dividends declared, non-controlling interests	—		—		—		—		—		—		(2)		—		—

Share-based compensation, net of issuance	—		—		1		—		—		—		—		8		—
Sale of business	—		—		—		—		—		—		(23)		—		—

Other comprehensive income	—		—		—		—		79		—		1		—		—
Balance as of June 30, 2026	$	—	$	1	$	1,163	$	(1,553)	$	(848)	$	5,761	$	—	$	49	$	—


	Total Equity														Share-based Payments Subject to Redemption		Redeemable Non- Controlling Interests
	Preferred Stock		Common Stock		Additional Paid-In Capital		Treasury Stock		Accumulated Other Comprehensive Loss		Retained Earnings		Non- Redeemable Non- Controlling Interests
Balance as of December 31, 2024	$	—	$	1	$	1,152	$	(1,355)	$	(1,086)	$	5,092	$	19	$	60	$	7
Net income attributable to Ingredion	—		—		—		—		—		197		—		—		—
Net income attributable to non-controlling interests	—		—		—		—		—		—		2		—		—
Dividends declared, common stock ($0.80/share)	—		—		—		—		—		(53)		—		—		—

Repurchases of common stock, net	—		—		—		(55)		—		—		—		—		—


Share-based compensation, net of issuance	—		—		6		17		—		—		—		(18)		—
Other comprehensive income	—		—		—		—		61		—		—		—		1
Balance as of March 31, 2025	$	—	$	1	$	1,158	$	(1,393)	$	(1,025)	$	5,236	$	21	$	42	$	8
Net income attributable to Ingredion	—		—		—		—		—		196		—		—		—
Net income attributable to non-controlling interests	—		—		—		—		—		—		2		—		—
Dividends declared, common stock ($0.80/share)	—		—		—		—		—		(52)		—		—		—
Dividends declared, non-controlling interests	—		—		—		—		—		—		(2)		—		—

Share-based compensation, net of issuance	—		—		2		2		—		—		—		9		—


Other comprehensive income (loss)	—		—		—		—		72		—		—		—		(1)
Balance as of June 30, 2025	$	—	$	1	$	1,160	$	(1,391)	$	(953)	$	5,380	$	21	$	51	$	7

Supplemental Information: The following table presents information about the computation of basic and diluted earnings per common share (“EPS”):


	Three Months Ended June 30, 2026	Three Months Ended June 30, 2025
			Net Income Attributable to Ingredion		Weighted Average Shares	Per Share Amount		Net Income Attributable to Ingredion		Weighted Average Shares	Per Share Amount
Basic EPS			$	114	63.3	$	1.80	$	196	64.5	$	3.04
Effect of Dilutive Securities (i)					0.6					1.1
Diluted EPS			$	114	63.9	$	1.78	$	196	65.6	$	2.99


	Six Months Ended June 30, 2026					Six Months Ended June 30, 2025
	Net Income Attributable to Ingredion		Weighted Average Shares	Per Share Amount		Net Income Attributable to Ingredion		Weighted Average Shares	Per Share Amount
Basic EPS	$	256	63.2	$	4.05	$	393	64.5	$	6.09
Effect of Dilutive Securities (i)			0.7					1.1
Diluted EPS	$	256	63.9	$	4.01	$	393	65.6	$	5.99

_________________

(i)Incremental shares from assumed exercise of dilutive stock options, vesting of dilutive stock options, and vesting of dilutive RSUs and other awards.

For the second quarter and year-to-date of 2026, approximately 0.8 million and 0.6 million share-based awards of common stock were excluded from the calculation of the weighted average number of shares outstanding for diluted EPS because their effects were anti-dilutive. For the second quarter and year-to-date of 2025, approximately 0.2 million share-based awards of common stock were excluded from the calculation of the weighted average number of shares outstanding for diluted EPS because their effects were anti-dilutive.

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2026	Aug. 05, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2026
Document Transition Report	false
Entity File Number	1-13397
Entity Registrant Name	INGREDION INCORPORATED
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	22-3514823
Entity Address, Address Line One	5 Westbrook Corporate Center
Entity Address, City or Town	Westchester
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60154
City Area Code	708
Local Phone Number	551-2600
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	INGR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		63,063,979
Entity Central Index Key	0001046257
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Amendment Flag	false

Equity - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Assumptions used to measure the fair value of awards
Expected life (in years)		5 years 6 months
Risk-free interest rate		4.10%
Expected volatility		28.20%
Expected dividend yield		2.50%
Stock options, Number of Options
Outstanding at the beginning of the period (in shares)	1,269
Granted (in shares)	0	158
Exercised (in shares)	(12)
Cancelled (in shares)	(15)
Outstanding at the end of the period (in shares)	1,242		1,269
Exercisable at the end of the period (in shares)	1,106
Stock options, Weighted Average Exercise Price per Share
Outstanding at the beginning of the period (in dollars per share)	$ 105.75
Granted (in dollars per share)	0
Exercised (in dollars per share)	99.75
Cancelled (in dollars per share)	121.85
Outstanding at the end of the period (in dollars per share)	105.61		$ 105.75
Exercisable at the end of the period (in dollars per share)	$ 103.47
Additional information pertaining to stock options
Average remaining contractual term, outstanding	4 years 9 months 18 days		5 years 3 months 18 days
Average remaining contractual term, exercisable	4 years 4 months 24 days
Aggregate intrinsic value, outstanding	$ 3		$ 13
Aggregate intrinsic value, exercisable	$ 3

Supplementary Information

6 Months Ended

Jun. 30, 2026

Supplementary Information

Supplementary Information

Accounts receivable, net

Accounts receivable, net was as follows:


	As of June 30, 2026		As of December 31, 2025
Accounts receivable – trade	$	1,228	$	1,031
Accounts receivable – other	172		164
Allowance for credit losses	(14)		(10)
Total accounts receivable, net	$	1,386	$	1,185

There were no significant contract assets or contract liabilities associated with our customers as of June 30, 2026 or December 31, 2025. Liabilities for volume discounts and incentives were also not significant as of June 30, 2026 or December 31, 2025.

Inventories

Inventories were as follows:


	As of June 30, 2026		As of December 31, 2025
Finished and in process	$	738	$	753
Raw materials	286		389
Manufacturing supplies	85		85
Total inventories	$	1,109	$	1,227

Property, Plant and Equipment, Net

On May 1, 2026, we committed to a plan to cease operations at our Cabo, Brazil facility as of June 30, 2026. In the quarter ended June 30, 2026, we incurred pre-tax charges of $43 million for the closure, of which $31 million was for impairment charges relating to fixed assets and $12 million was for inventory write-downs, severance payments, and other termination-related costs. For the six months ended June 30, 2026, we recorded pre-tax charges of $56 million for Restructuring/impairment charges, which included the previously mentioned $43 million for the closure of the Cabo, Brazil facility with the balance of costs related to the sale of the majority ownership of the Pakistan business and other non-recurring restructuring costs.

Supply Chain Finance Programs

Under supply chain finance programs administered by third-party banks, our suppliers have the opportunity to sell receivables due from us to participating financing institutions and receive earlier payment at a discount. Our responsibility is limited to making payment on the terms originally negotiated with our supplier, regardless of whether such supplier sells its receivable to a financial institution. The payment terms we negotiate with a supplier are independent of whether such supplier participates in a supply chain finance program, and participation in any such program by a supplier has no effect on our income or cash flows.

As of June 30, 2026 and December 31, 2025, participating financial institutions held $134 million and $148 million of our liabilities recorded in Accounts payable and Accrued liabilities and liabilities held for sale on our Condensed Consolidated Balance Sheets. As of June 30, 2026, supply chain finance programs existed primarily for operations in Brazil, the U.S., Thailand, Mexico, China, Colombia, and Peru, and for operations of certain PureCircle entities.

Equity - AOCL (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
Equity - AOCL (Details) - USD ($) $ in Millions	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025
Accumulated Other Comprehensive Loss
Balance at beginning of period		$ 4,295			$ 4,295
Balance at end of period	$ 4,524				4,524
AOCL
Accumulated Other Comprehensive Loss
Balance at beginning of period	(927)	(937)	$ (1,025)	$ (1,086)	(937)	$ (1,086)
Other comprehensive income before reclassification adjustments					75	142
Loss reclassified from AOCL					7	(11)
Tax effect					7	(2)
Net other comprehensive income (loss)	79	10	72	61	89	133
Balance at end of period	(848)	(927)	(953)	(1,025)	(848)	(953)
Cumulative Translation Adjustment
Accumulated Other Comprehensive Loss
Balance at beginning of period		(899)		(1,061)	(899)	(1,061)
Other comprehensive income before reclassification adjustments					109	138
Loss reclassified from AOCL					0	0
Tax effect					0	0
Net other comprehensive income (loss)					109	138
Balance at end of period	(790)		(923)		(790)	(923)
Hedging Activities
Accumulated Other Comprehensive Loss
Balance at beginning of period		(5)		4	(5)	4
Other comprehensive income before reclassification adjustments					(34)	4
Loss reclassified from AOCL					7	(11)
Tax effect					7	(2)
Net other comprehensive income (loss)					(20)	(5)
Balance at end of period	(25)		(1)		(25)	(1)
Pension and Postretirement Adjustment
Accumulated Other Comprehensive Loss
Balance at beginning of period		$ (33)		$ (29)	(33)	(29)
Other comprehensive income before reclassification adjustments					0	0
Loss reclassified from AOCL					0	0
Tax effect					0	0
Net other comprehensive income (loss)					0	0
Balance at end of period	$ (33)		$ (29)		$ (33)	$ (29)

Investments (Tables)

6 Months Ended

Jun. 30, 2026

Investments [Abstract]

Schedule of investments

Investments were as follows:


	As of June 30, 2026		As of December 31, 2025
Equity method investments	$	201	$	117
Equity investments	26		27
Marketable securities	28		6
Total investments	$	255	$	150

Pension and Other Postretirement Benefits - Schedule of components of net periodic benefit (cost) (Details) - Pension Plan - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
U.S. Plans
Benefit plans
Service cost	$ 0	$ 0	$ 1	$ 1
Interest cost	4	4	7	7
Expected return on plan assets	(5)	(4)	(9)	(8)
Net periodic cost	(1)	0	(1)	0
Non-U.S. Plans
Benefit plans
Service cost	1	0	2	1
Interest cost	3	2	5	4
Expected return on plan assets	(3)	(2)	(5)	(4)
Net periodic cost	$ 1	$ 0	$ 2	$ 1

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Equity - Schedule of Stock Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Share-based compensation expense
Pre-tax compensation expense	$ 8	$ 11	$ 18	$ 24
Income tax effect	1	(1)	(1)	(2)
Total share-based compensation expense, net of income taxes	9	10	17	22
RSUs
Share-based compensation expense
Pre-tax compensation expense	6	5	12	12
Income tax effect	0	(1)	(1)	(2)
Total share-based compensation expense, net of income taxes	6	4	11	10
Performance shares and other share-based awards
Share-based compensation expense
Pre-tax compensation expense	2	4	6	9
Income tax effect	1	0	0	0
Total share-based compensation expense, net of income taxes	3	4	6	9
Stock options
Share-based compensation expense
Pre-tax compensation expense	0	2	0	3
Income tax effect	0	0	0	0
Total share-based compensation expense, net of income taxes	$ 0	$ 2	$ 0	$ 3

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Acquisitions and Divestitures (Details) $ in Millions, ₩ in Billions, £ in Billions				1 Months Ended		3 Months Ended						6 Months Ended		12 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 08, 2026 USD ($)	Jun. 08, 2026 GBP (£)	Feb. 28, 2027 USD ($)	Feb. 28, 2027 KRW (₩)	Jun. 30, 2026 USD ($)	Mar. 31, 2026 USD ($)	Mar. 31, 2026 KRW (₩)	Jun. 30, 2025 USD ($)	Mar. 31, 2025 USD ($)	Mar. 31, 2025 KRW (₩)	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Dec. 31, 2025 USD ($)
Disposal Group, Including Discontinued Operations [Line Items]
Net (gain) on sale of business						$ (44)			$ 0			$ (44)	$ 0
Purchases of non-controlling interests							$ 7					7
Proceeds from sales of businesses, net												$ 139	$ 12
Rafhan Maize Products Co. Ltd.
Disposal Group, Including Discontinued Operations [Line Items]
Ownership percentage	20.00%					20.00%						20.00%
PureCircle Limited
Disposal Group, Including Discontinued Operations [Line Items]
Ownership percentage, parent	100.00%					100.00%						100.00%
Disposed of by Sale \| Pakistan Business Divestiture
Disposal Group, Including Discontinued Operations [Line Items]
Disposal, ownership interest disposed	51.00%					51.00%						51.00%
Consideration received on disposal	$ 165					$ 165						$ 165
Consideration after deconsolidation	127					127						$ 127
Net (gain) on sale of business	$ (44)
Revenue														$ 250
Operating income														$ 35
Disposed of by Sale \| South Korea divestiture
Disposal Group, Including Discontinued Operations [Line Items]
Proceeds from sales of businesses, net							$ 12	₩ 18		$ 12	₩ 18
Disposed of by Sale \| South Korea divestiture \| Forecast
Disposal Group, Including Discontinued Operations [Line Items]
Proceeds from sales of businesses, net				$ 12	₩ 18
Tate & Lyle PLC
Disposal Group, Including Discontinued Operations [Line Items]
Acquisition value of the equity		$ 3,500	£ 2.7
Acquisition/integration costs						53
Foreign exchange hedging losses						$ (47)
Bridge facility \| Bridge Loan
Disposal Group, Including Discontinued Operations [Line Items]
Debt instrument, term (in days)		364 days	364 days

Derivative Instruments and Hedging Activities

6 Months Ended

Jun. 30, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

Commodity price hedging: We had outstanding futures and option contracts that hedged the forecasted purchase of approximately 77 million and 84 million bushels of corn as of June 30, 2026 and December 31, 2025. We also had outstanding swap contracts that hedged the forecasted purchase of approximately 34 million and 26 million mmbtus of natural gas as of June 30, 2026 and December 31, 2025.

Foreign currency hedging: We hedge certain assets and certain liabilities using foreign currency derivatives not designated as hedging instruments.

We hedge certain assets using foreign currency cash flow hedging instruments, which had a notional value of $246 million and $425 million as of June 30, 2026 and December 31, 2025. We also hedge certain liability positions and forecasted expenditures using foreign currency cash flow hedging instruments, which had a notional value of $213 million and $358 million as of June 30, 2026 and December 31, 2025.

Our foreign currency derivatives not designated as cash flow hedging instruments that we use to hedge certain assets had a notional value of $4,225 million and $395 million as of June 30, 2026 and December 31, 2025, and our foreign currency derivatives not designated as hedging instruments that we use to hedge certain liabilities had a notional value of $3,651 million and $192 million as of June 30, 2026 and December 31, 2025. On June 5, 2026, we paid $57 million for derivative instruments to mitigate foreign currency exposure to £2,793 million for the cash consideration payable for the pending acquisition of Tate & Lyle that we expect to close during the second half of 2027, as described in Note 2,

Acquisitions and Divestitures. The contracts are over-the-counter instruments transacted with a financial institution counterparty who does not require us to post collateral. The derivative instruments expire on February 8, 2028, and are recorded in Other non-current assets and Other non-current liabilities.

The derivative instruments designated as cash flow hedges included in accumulated other comprehensive loss (“AOCL”) were as follows:


	(Losses) Gains included in AOCL as of
	June 30, 2026		December 31, 2025
Commodity, net of income tax effect of $8 and $3	$	(22)	$	(7)
Foreign currency, net of income tax effect of $1 and $3	(2)		3
Interest rate, net of income tax effect of $1	(1)		(1)
Total	$	(25)	$	(5)

As of June 30, 2026, AOCL included $22 million of net losses (net of income taxes of $8 million) on commodities-related derivative instruments, T-Locks and foreign currency hedges designated as cash flow hedges that we expect to reclassify into earnings during the next twelve months.

The fair value and balance sheet location of our derivative instruments presented gross on the Condensed Consolidated Balance Sheets, were as follows:


	Fair Value of Hedging Instruments as of June 30, 2026
	Designated Hedging Instruments						Non-Designated Hedging Instruments
Balance Sheet Location	Commodity		Foreign Currency		Total		Commodity		Foreign Currency		Total
Accounts receivable, net	$	4	$	4	$	8	$	2	$	11	$	13
Other non-current assets	2		1		3		—		82		82
Assets	6		5		11		2		93		95
Accounts payable	30		11		41		4		5		9
Other non-current liabilities	4		1		5		—		73		73
Liabilities	34		12		46		4		78		82
Net Assets/(Liabilities)	$	(28)	$	(7)	$	(35)	$	(2)	$	15	$	13


	Fair Value of Hedging Instruments as of December 31, 2025
	Designated Hedging Instruments						Non-Designated Hedging Instruments
Balance Sheet Location	Commodity		Foreign Currency		Total		Commodity		Foreign Currency		Total
Accounts receivable, net	$	4	$	13	$	17	$	1	$	5	$	6
Other non-current assets	—		—		—		—		1		1
Assets	4		13		17		1		6		7
Accounts payable	13		11		24		1		3		4
Other non-current liabilities	—		—		—		—		—		—
Liabilities	13		11		24		1		3		4
Net Assets/(Liabilities)	$	(9)	$	2	$	(7)	$	—	$	3	$	3

Additional information relating to our derivative instruments in cash flow hedging relationships were as follows:


	(Losses) Gains Recognized in OCL on Derivatives					(Losses) Gains Reclassified from AOCL into Income
Derivatives in Cash Flow Hedging Relationships	Three Months Ended June 30,				Income Statement Location	Three Months Ended June 30,
	2026		2025			2026		2025




Commodity	$	(35)	$	(24)	Cost of sales	$	(8)	$	4
Foreign currency	(4)		11		Net sales/Cost of sales	1		5
Total	$	(39)	$	(13)		$	(7)	$	9


	(Losses) Gains Recognized in OCL on Derivatives					(Losses) Gains Reclassified from AOCL into Income
Derivatives in Cash Flow Hedging Relationships	Six Months Ended June 30,				Income Statement Location	Six Months Ended June 30,
	2026		2025			2026		2025
Commodity	$	(25)	$	(11)	Cost of sales	$	(5)	$	1
Foreign currency	(9)		15		Net sales/Cost of sales	(2)		10

Total	$	(34)	$	4		$	(7)	$	11

- Definition

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

+ References

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+ Details

Equity - EPS (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Basic EPS
Net Income Attributable to Ingredion			$ 256	$ 393
Weighted average number of shares outstanding, basic (in shares)	63.3	64.5	63.2	64.5
Basic earnings per common share of Ingredion (in dollars per share)	$ 1.80	$ 3.04	$ 4.05	$ 6.09
Effect of Dilutive Securities
Effect of Dilutive Securities (in shares)	0.6	1.1	0.7	1.1
Diluted EPS
Diluted EPS	$ 114	$ 196	$ 256	$ 393
Weighted average number of shares outstanding - diluted (in shares), Total	63.9	65.6	63.9	65.6
Diluted earnings per common share of Ingredion (in dollars per share)	$ 1.78	$ 2.99	$ 4.01	$ 5.99
Antidilutive securities excluded in calculation of diluted EPS:
Antidilutive securities excluded from computation of earnings per share amount (in shares)	0.8	0.2	0.6	0.2

Segment Information - Schedule of Net Sales and Operating Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Segment information
Net sales to unaffiliated customers	$ 1,850	$ 1,833	$ 3,642	$ 3,646
Adjusted operating income (loss)	258	273	470	546
Unallocated income (costs)	(70)	(2)	(79)	1
Operating income	188	271	391	547
T&HS
Segment information
Net sales to unaffiliated customers	627	599	1,244	1,201
F&II–LATAM
Segment information
Net sales to unaffiliated customers	611	596	1,190	1,169
F&II–U.S./Canada
Segment information
Net sales to unaffiliated customers	488	523	963	1,043
Operating Segments \| T&HS
Segment information
Net sales to unaffiliated customers	662	608	1,288	1,219
Segment cost of sales	434	407	871	833
Other operating expenses	76	81	156	158
Adjusted operating income (loss)	117	111	217	210
Operating Segments \| F&II–LATAM
Segment information
Net sales to unaffiliated customers	622	610	1,211	1,196
Segment cost of sales	462	434	895	854
Other operating expenses	31	35	62	61
Adjusted operating income (loss)	118	127	233	254
Operating Segments \| F&II–U.S./Canada
Segment information
Net sales to unaffiliated customers	536	550	1,038	1,103
Segment cost of sales	408	417	826	822
Other operating expenses	22	20	45	43
Adjusted operating income (loss)	58	86	92	178
All Other and Inter-segment sales
Segment information
Net sales to unaffiliated customers	124	115	245	233
All Other
Segment information
Net sales to unaffiliated customers	132	119	257	240
Segment cost of sales	99	98	202	199
Other operating expenses	19	18	34	35
Adjusted operating income (loss)	6	(1)	9	(1)
Inter-segment sales
Segment information
Net sales to unaffiliated customers	(8)	(4)	(12)	(7)
Inter-segment sales \| T&HS
Segment information
Net sales to unaffiliated customers	(35)	(9)	(44)	(18)
Inter-segment sales \| F&II–LATAM
Segment information
Net sales to unaffiliated customers	(11)	(14)	(21)	(27)
Inter-segment sales \| F&II–U.S./Canada
Segment information
Net sales to unaffiliated customers	(48)	(27)	(75)	(60)
Corporate
Segment information
Segment cost of sales	0	0	0	0
Other operating expenses	41	50	81	95
Adjusted operating income (loss)	$ (41)	$ (50)	$ (81)	$ (95)

Segment Information - Schedule of Unallocated Income (Costs) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Segment Reporting [Abstract]
Acquisition/integration costs	$ (6)	$ 0	$ (6)	$ 0
Impairment charges	(31)	0	(31)	(6)
Restructuring costs	(14)	(3)	(25)	(4)
Other matters	(19)	1	(17)	11
Total unallocated (costs) income	$ (70)	$ (2)	$ (79)	$ 1

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References + Details

Condensed Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 1,850	$ 1,833	$ 3,642	$ 3,646
Cost of sales	1,424	1,356	2,815	2,703
Gross profit	426	477	827	943
Operating expenses	207	208	407	401
Other operating (income), net	(14)	(5)	(27)	(15)
Restructuring/impairment charges	45	3	56	10
Operating income	188	271	391	547
Financing costs	55	12	64	21
Net (gain) on sale of business	(44)	0	(44)	0
Other non-operating expense, net	2	0	2	0
Income before income taxes	175	259	369	526
Provision for income taxes	59	61	109	129
Net income	116	198	260	397
Less: Net income attributable to non-controlling interests	2	2	4	4
Net income attributable to Ingredion	$ 114	$ 196	$ 256	$ 393
Weighted average common shares outstanding:
Basic (in shares)	63.3	64.5	63.2	64.5
Diluted (in shares)	63.9	65.6	63.9	65.6
Earnings per common share of Ingredion:
Basic (in dollars per share)	$ 1.80	$ 3.04	$ 4.05	$ 6.09
Diluted (in dollars per share)	$ 1.78	$ 2.99	$ 4.01	$ 5.99

Supplementary Information - Schedule of Accounts Receivable, Net (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Supplementary Information
Accounts receivable – trade	$ 1,228	$ 1,031
Accounts receivable – other	172	164
Allowance for credit losses	(14)	(10)
Total accounts receivable, net	$ 1,386	$ 1,185

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Statement of Comprehensive Income [Abstract]
(Losses) gains on cash flow hedges, tax effect	$ 10	$ 4	$ 9	$ 0
Losses on cash flow hedges reclassified to earnings, net of income tax effect	$ 2	$ 2	$ 2	$ 2

Pension and Other Postretirement Benefits

6 Months Ended

Jun. 30, 2026

Retirement Benefits [Abstract]

Pension and Other Postretirement Benefits

Components of net periodic (benefit) cost consist of the following for the periods presented:


	Three Months Ended June 30,						Six Months Ended June 30,
		U.S. Plans	Non-U.S. Plans								U.S. Plans	Non-U.S. Plans
			2026		2025		2026		2025				2026		2025		2026		2025
Service cost			$	—	$	—	$	1	$	—			$	1	$	1	$	2	$	1
Interest cost			4		4		3		2				7		7		5		4
Expected return on plan assets			(5)		(4)		(3)		(2)				(9)		(8)		(5)		(4)


Net periodic (benefit) cost			$	(1)	$	—	$	1	$	—			$	(1)	$	—	$	2	$	1

We anticipate that we will make cash contributions of $1 million and $4 million to the U.S. and non-U.S. pension plans in 2026. For year-to-date 2026, we made cash contributions of $1 million to the U.S. pension plans and $2 million to the non-U.S. pension plans.

For year-to-date 2026 and 2025, the net periodic (benefit) cost for the postretirement OPEB plans consisted of $2 million of interest costs and $1 million of amortization of prior service costs and $2 million of interest costs and no amortization of prior service costs. During the second quarter of 2026 and 2025, the net periodic benefit cost for the postretirement plans consisted of $1 million of interest costs and $1 million of amortization of prior service costs and $1 million of interest costs and no amortization of prior service costs

- Definition

The entire disclosure for retirement benefits.

+ References

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-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
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+ Details

Fair Value Measurements

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Fair Value Measurements

We measure certain assets and liabilities at fair value, which is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, we use various valuation approaches. The hierarchy of those valuation approaches is in three levels based on the reliability of inputs. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Below is a summary of the hierarchy levels:

•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 are used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date.

Assets and liabilities measured at fair value on a recurring basis were as follows:


	As of June 30, 2026								As of December 31, 2025
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Marketable securities	$	28	$	—	$	—	$	28	$	6	$	—	$	—	$	6
Derivative assets	5		101		—		106		22		2		—		24
Derivative liabilities	21		107		—		128		18		10		—		28
Long-term debt	—		1,640		—		1,640		—		1,649		—		1,649

The carrying values of cash equivalents, short-term investments, accounts receivable, short-term borrowings and accounts payable approximate fair values. Marketable securities, commodity and foreign currency forwards, futures, options and swap contracts are recognized at fair value. The fair value of our long-term debt is estimated based on quotations of major securities dealers who are market makers in the securities.

Acquisitions and Divestitures (Tables)

6 Months Ended

Jun. 30, 2026

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of assets and liabilities held for sale

The major classes of assets and liabilities sold consisted of the following:


	As of June 30, 2026
Cash and cash equivalents	$	38
Accounts receivable, net	21
Inventories	123

Property, plant and equipment, net	49
Other non-current assets	3
Total assets	$	234

Short-term borrowings	$	44
Accounts payable	15
Accrued liabilities	55
Other non-current liabilities	8
Total Liabilities	$	122

Net assets sold	$	112

- Definition

Tabular disclosure of information 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

Derivative Instruments and Hedging Activities - Cash flow hedges (Details) - Cash flow hedging - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Hedging relationships
(Losses) Gains Recognized in OCL on Derivatives	$ (39)	$ (13)	$ (34)	$ 4
(Losses) Gains Reclassified from AOCL into Income	(7)	9	(7)	11
Commodity contracts
Hedging relationships
(Losses) Gains Recognized in OCL on Derivatives	(35)	(24)	(25)	(11)
(Losses) Gains Reclassified from AOCL into Income	(8)	4	(5)	1
Foreign currency contracts
Hedging relationships
(Losses) Gains Recognized in OCL on Derivatives	(4)	11	(9)	15
(Losses) Gains Reclassified from AOCL into Income	$ 1	$ 5	$ (2)	$ 10

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Investments - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
Investments - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2026	Jun. 30, 2025	May 28, 2026	Dec. 31, 2025
Equity Method Investments
Equity method investments	$ 201			$ 117
Impairment of equity method investments	2	$ 4
Sanstar Limited
Equity Method Investments
Equity method investments			$ 21
Ownership percentage			9.00%
Agrana Starke GmbH
Equity Method Investments
Equity method investments	3	$ 19
Ownership percentage		49.00%
Rafhan Maize Products Co. Ltd.
Equity Method Investments
Equity method investments	$ 65
Ownership percentage	20.00%

- Definition

This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.

+ References + Details

- Definition

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+ Details

Supplementary Information - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	May 01, 2026	Dec. 31, 2025
Restructuring and impairment charges
Restructuring/impairment charges	$ 45	$ 3	$ 56	$ 10
Supplier finance program obligation	$ 134		$ 134			$ 148
Ceasing Operations, Cabo, Brazil Manufacturing Facility
Restructuring and impairment charges
Restructuring, expected cost					$ 43
Ceasing Operations, Cabo, Brazil Manufacturing Facility \| Fixed Asset and Inventory Write-Down
Restructuring and impairment charges
Restructuring, expected cost					31
Ceasing Operations, Cabo, Brazil Manufacturing Facility \| Other Restructuring Costs
Restructuring and impairment charges
Restructuring, expected cost					$ 12

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Investments

6 Months Ended

Jun. 30, 2026

Investments [Abstract]

Investments

Investments were as follows:


	As of June 30, 2026		As of December 31, 2025
Equity method investments	$	201	$	117
Equity investments	26		27
Marketable securities	28		6
Total investments	$	255	$	150

On May 28, 2026, we entered into a joint venture arrangement with Sanstar Limited (“Sanstar”), a manufacturer of plant-based specialty products and ingredient solutions in India, to manufacture pharmaceutical-grade specialty ingredients once a new, joint venture manufacturing facility is built and commissioned. As part of the arrangement, we invested $21 million and acquired a 9 percent equity interest in Sanstar’s publicly-traded common stock. We have classified this investment as a marketable security and recognize changes in fair value in Other operating (income), net within our Texture & Healthful Solutions segment.

In connection with the sale of our majority ownership of the Pakistan business as described in Note 2, Acquisitions and Divestitures, we retained approximately a 20 percent equity interest in the business, and entered into certain ongoing commercial arrangements with the entity. Upon deconsolidation, we recorded our retained equity interest at its estimated fair value of $65 million and classified it as an equity method investment. Beginning July 1, 2026, we will recognize our share of net income in Other operating (income), net within our Texture & Healthful Solutions segment.

In June 2025, we entered into a joint venture agreement with Agrana Stärke GmbH (“Agrana joint venture”), which provided us with a 49 percent equity interest in the joint venture for the development of starch production in Romania in exchange for $19 million of consideration. During the second quarter of 2026, we increased our investment by $3 million. We classify our investment in the Agrana joint venture as an equity method investment and recognize our share of net income from this joint venture one month in arrears in our Texture & Healthful Solutions segment.

During year-to-date 2026 and 2025, we recorded other-than-temporary impairment charges of $2 million and $4 million on certain equity investments.

Condensed Consolidated Statements of Equity and Redeemable Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-In Capital	Treasury Stock	Accumulated Other Comprehensive Loss	Retained Earnings	Non- Redeemable Non- Controlling Interests
Balance at beginning of period at Dec. 31, 2024		$ 1	$ 1,152	$ (1,355)	$ (1,086)	$ 5,092	$ 19
Increase (Decrease) in Stockholders' Equity
Net income attributable to Ingredion						197
Net income attributable to non-controlling interests							2
Dividends declared, common stock						(53)
Repurchases of common stock, net				(55)
Share-based compensation, net of issuance			6	17
Other comprehensive income					61
Balance at end of period at Mar. 31, 2025		1	1,158	(1,393)	(1,025)	5,236	21
Share-based payments subject to redemption, beginning balance at Dec. 31, 2024	$ 60
Increase (Decrease) in Temporary Equity
Share-based compensation, net of issuance	(18)
Share-based payments subject to redemption, ending balance at Mar. 31, 2025	42
Redeemable non-controlling interests, beginning balance at Dec. 31, 2024	7
Increase (Decrease) in Temporary Equity
Other comprehensive income	1
Redeemable non-controlling interests, ending balance at Mar. 31, 2025	8
Balance at beginning of period at Dec. 31, 2024		1	1,152	(1,355)	(1,086)	5,092	19
Increase (Decrease) in Stockholders' Equity
Net income attributable to Ingredion	393					393
Net income attributable to non-controlling interests	(4)						4
Dividends declared, common stock						(105)	(2)
Repurchases of common stock, net				(55)
Share-based compensation, net of issuance			8	19
Other comprehensive income					133
Balance at end of period at Jun. 30, 2025		1	1,160	(1,391)	(953)	5,380	21
Share-based payments subject to redemption, beginning balance at Dec. 31, 2024	60
Increase (Decrease) in Temporary Equity
Share-based compensation, net of issuance	(9)
Share-based payments subject to redemption, ending balance at Jun. 30, 2025	51
Redeemable non-controlling interests, beginning balance at Dec. 31, 2024	7
Redeemable non-controlling interests, ending balance at Jun. 30, 2025	7
Balance at beginning of period at Mar. 31, 2025		1	1,158	(1,393)	(1,025)	5,236	21
Increase (Decrease) in Stockholders' Equity
Net income attributable to Ingredion	196					196
Net income attributable to non-controlling interests	(2)						2
Dividends declared, common stock						(52)	(2)
Repurchases of common stock, net				0
Share-based compensation, net of issuance			2	2
Other comprehensive income					72
Balance at end of period at Jun. 30, 2025		1	1,160	(1,391)	(953)	5,380	21
Share-based payments subject to redemption, beginning balance at Mar. 31, 2025	42
Increase (Decrease) in Temporary Equity
Share-based compensation, net of issuance	9
Share-based payments subject to redemption, ending balance at Jun. 30, 2025	51
Redeemable non-controlling interests, beginning balance at Mar. 31, 2025	8
Increase (Decrease) in Temporary Equity
Other comprehensive income	(1)
Redeemable non-controlling interests, ending balance at Jun. 30, 2025	7
Balance at beginning of period at Dec. 31, 2025	4,295	1	1,155	(1,555)	(937)	5,610	21
Increase (Decrease) in Stockholders' Equity
Net income attributable to Ingredion						142
Net income attributable to non-controlling interests							2
Dividends declared, common stock						(52)
Repurchases of common stock, net				(14)
Share-based compensation, net of issuance			7	16
Other comprehensive income					10		(1)
Balance at end of period at Mar. 31, 2026		1	1,162	(1,553)	(927)	5,700	22
Share-based payments subject to redemption, beginning balance at Dec. 31, 2025	64
Increase (Decrease) in Temporary Equity
Share-based compensation, net of issuance	(23)
Share-based payments subject to redemption, ending balance at Mar. 31, 2026	41
Redeemable non-controlling interests, beginning balance at Dec. 31, 2025	7
Increase (Decrease) in Temporary Equity
Purchases of non-controlling interests	(7)
Redeemable non-controlling interests, ending balance at Mar. 31, 2026	0
Balance at beginning of period at Dec. 31, 2025	4,295	1	1,155	(1,555)	(937)	5,610	21
Increase (Decrease) in Stockholders' Equity
Net income attributable to Ingredion	256					256
Net income attributable to non-controlling interests	(4)						4
Dividends declared, common stock						(105)	(2)
Repurchases of common stock, net				(14)
Share-based compensation, net of issuance			8	16
Sale of business							(23)
Other comprehensive income					89
Balance at end of period at Jun. 30, 2026	4,524	1	1,163	(1,553)	(848)	5,761	0
Share-based payments subject to redemption, beginning balance at Dec. 31, 2025	64
Increase (Decrease) in Temporary Equity
Share-based compensation, net of issuance	(15)
Share-based payments subject to redemption, ending balance at Jun. 30, 2026	49
Redeemable non-controlling interests, beginning balance at Dec. 31, 2025	7
Increase (Decrease) in Temporary Equity
Purchases of non-controlling interests	(7)
Redeemable non-controlling interests, ending balance at Jun. 30, 2026	0
Balance at beginning of period at Mar. 31, 2026		1	1,162	(1,553)	(927)	5,700	22
Increase (Decrease) in Stockholders' Equity
Net income attributable to Ingredion	114					114
Net income attributable to non-controlling interests	(2)						2
Dividends declared, common stock						(53)	(2)
Repurchases of common stock, net				0
Share-based compensation, net of issuance			1	0
Other comprehensive income					79		1
Balance at end of period at Jun. 30, 2026	4,524	$ 1	$ 1,163	$ (1,553)	$ (848)	$ 5,761	$ 0
Share-based payments subject to redemption, beginning balance at Mar. 31, 2026	41
Increase (Decrease) in Temporary Equity
Share-based compensation, net of issuance	8
Share-based payments subject to redemption, ending balance at Jun. 30, 2026	49
Redeemable non-controlling interests, beginning balance at Mar. 31, 2026	0
Redeemable non-controlling interests, ending balance at Jun. 30, 2026	$ 0

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Statement of Financial Position [Abstract]
Property, plant and equipment, accumulated depreciation	$ 3,764	$ 3,727
Intangible assets, accumulated amortization	$ 367	$ 354
Preferred stock, authorized (in shares)	25,000,000.0	25,000,000.0
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, issued (in shares)	0	0
Common stock, authorized (in shares)	200,000,000.0	200,000,000.0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, issued (in shares)	77,800,000	77,800,000
Treasury stock (in shares)	14,700,000	14,800,000

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Statement of Comprehensive Income [Abstract]
Net income	$ 116	$ 198	$ 260	$ 397
Other comprehensive income:
(Losses) gains on cash flow hedges, net of income tax effect of $10, $4, $9 and $—	(29)	(9)	(25)	4
Losses (gains) on cash flow hedges reclassified to earnings, net of income tax effect of $2 for all periods	5	(7)	5	(9)
Currency translation adjustment	103	88	109	138
Comprehensive income	195	270	349	530
Less: Comprehensive income attributable to non-controlling interests	3	1	4	4
Comprehensive income attributable to Ingredion	$ 192	$ 269	$ 345	$ 526

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Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

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Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

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The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

Equity (Tables)

6 Months Ended

Jun. 30, 2026

Equity [Abstract]

Schedule of stock based compensation expense

Share-based compensation expense was as follows:


	Three Months Ended June 30,					Six Months Ended June 30,
		2026		2025			2026		2025
Restricted stock units (“RSUs”):
Pre-tax compensation expense		$	6	$	5		$	12	$	12
Income tax effect		—		(1)			(1)		(2)
RSUs, net of income taxes		6		4			11		10

Performance shares and other share-based awards:
Pre-tax compensation expense		2		4			6		9
Income tax effect		1		—			—		—
Performance shares and other share-based awards, net of income taxes		3		4			6		9

Stock options:
Pre-tax compensation expense		—		2			—		3
Income tax effect		—		—			—		—
Stock options, net of income taxes		—		2			—		3

Total share-based compensation:
Pre-tax compensation expense		8		11			18		24
Income tax effect		1		(1)			(1)		(2)
Total share-based compensation expense, net of income taxes		$	9	$	10		$	17	$	22

Schedule of restricted unit activity

RSU activity for year-to-date 2026 was as follows:


	Number of Restricted Shares (in thousands)	Weighted Average Fair Value per Share
Non-vested as of December 31, 2025	510	$	112.44
Granted	215	115.69
Vested	(167)	99.11
Cancelled	(24)	117.81
Non-vested as of June 30, 2026	534	$	117.69

Schedule of valuation assumptions for stock options

We estimated the fair value of each option grant by using the Black-Scholes option-pricing model with the following assumptions for 2025:


			Six Months Ended June 30, 2025

Expected life (in years)			5.5
Risk-free interest rate			4.1%
Expected volatility			28.2%
Expected dividend yield			2.5%

Schedule of stock option transactions

Stock option activity for year-to-date 2026 was as follows:


	Number of Options (in thousands)	Weighted Average Exercise Price per Share		Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in millions)
Outstanding as of December 31, 2025	1,269	$	105.75	5.3	$	13
Granted	—	—
Exercised	(12)	99.75
Cancelled	(15)	121.85
Outstanding as of June 30, 2026	1,242	$	105.61	4.8	$	3
Exercisable as of June 30, 2026	1,106	$	103.47	4.4	$	3

Schedule of additional information pertaining to stock option activity

Additional information pertaining to stock option activity was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Weighted average grant date fair value of stock options granted (per share)	$	—	$	—	$	—	$	33.53
Total intrinsic value of stock options exercised	—		1		—		2

Summary of net changes in accumulated other comprehensive loss

A summary of accumulated other comprehensive loss for year-to-date 2026 and 2025 was as follows:


	Cumulative Translation Adjustment		Hedging Activities		Pension and Postretirement Adjustment		AOCL
Balance as of December 31, 2025	$	(899)	$	(5)	$	(33)	$	(937)
Other comprehensive income before reclassification adjustments	109		(34)		—		75
Loss reclassified from AOCL	—		7		—		7
Tax effect	—		7		—		7
Net other comprehensive income (loss)	109		(20)		—		89
Balance as of June 30, 2026	$	(790)	$	(25)	$	(33)	$	(848)


	Cumulative Translation Adjustment		Hedging Activities		Pension and Postretirement Adjustment		AOCL
Balance as of December 31, 2024	$	(1,061)	$	4	$	(29)	$	(1,086)
Other comprehensive income before reclassification adjustments	138		4		—		142
(Income) reclassified from AOCL	—		(11)		—		(11)
Tax effect	—		(2)		—		(2)
Net other comprehensive income (loss)	138		(5)		—		133
Balance as of June 30, 2025	$	(923)	$	(1)	$	(29)	$	(953)

Schedule of stockholders equity

The following Condensed Consolidated Statements of Equity and Redeemable Equity present information about the dividends per share for common stock for the periods indicated:


	Total Equity														Share-based Payments Subject to Redemption		Redeemable Non- Controlling Interests
	Preferred Stock		Common Stock		Additional Paid-In Capital		Treasury Stock		Accumulated Other Comprehensive Loss		Retained Earnings		Non- Redeemable Non- Controlling Interests
Balance as of December 31, 2025	$	—	$	1	$	1,155	$	(1,555)	$	(937)	$	5,610	$	21	$	64	$	7
Net income attributable to Ingredion	—		—		—		—		—		142		—		—		—
Net income attributable to non-controlling interests	—		—		—		—		—		—		2		—		—
Dividends declared, common stock ($0.82/share)	—		—		—		—		—		(52)		—		—		—

Repurchases of common stock, net	—		—		—		(14)		—		—		—		—		—

Share-based compensation, net of issuance	—		—		7		16		—		—		—		(23)		—
Purchases of non-controlling interests	—		—		—		—		—		—		—		—		(7)
Other comprehensive income (loss)	—		—		—		—		10		—		(1)		—		—
Balance as of March 31, 2026	$	—	$	1	$	1,162	$	(1,553)	$	(927)	$	5,700	$	22	$	41	$	—
Net income attributable to Ingredion	—		—		—		—		—		114		—		—		—
Net income attributable to non-controlling interests	—		—		—		—		—		—		2		—		—
Dividends declared, common stock ($0.82/share)	—		—		—		—		—		(53)		—		—		—
Dividends declared, non-controlling interests	—		—		—		—		—		—		(2)		—		—

Share-based compensation, net of issuance	—		—		1		—		—		—		—		8		—
Sale of business	—		—		—		—		—		—		(23)		—		—

Other comprehensive income	—		—		—		—		79		—		1		—		—
Balance as of June 30, 2026	$	—	$	1	$	1,163	$	(1,553)	$	(848)	$	5,761	$	—	$	49	$	—


	Total Equity														Share-based Payments Subject to Redemption		Redeemable Non- Controlling Interests
	Preferred Stock		Common Stock		Additional Paid-In Capital		Treasury Stock		Accumulated Other Comprehensive Loss		Retained Earnings		Non- Redeemable Non- Controlling Interests
Balance as of December 31, 2024	$	—	$	1	$	1,152	$	(1,355)	$	(1,086)	$	5,092	$	19	$	60	$	7
Net income attributable to Ingredion	—		—		—		—		—		197		—		—		—
Net income attributable to non-controlling interests	—		—		—		—		—		—		2		—		—
Dividends declared, common stock ($0.80/share)	—		—		—		—		—		(53)		—		—		—

Repurchases of common stock, net	—		—		—		(55)		—		—		—		—		—


Share-based compensation, net of issuance	—		—		6		17		—		—		—		(18)		—
Other comprehensive income	—		—		—		—		61		—		—		—		1
Balance as of March 31, 2025	$	—	$	1	$	1,158	$	(1,393)	$	(1,025)	$	5,236	$	21	$	42	$	8
Net income attributable to Ingredion	—		—		—		—		—		196		—		—		—
Net income attributable to non-controlling interests	—		—		—		—		—		—		2		—		—
Dividends declared, common stock ($0.80/share)	—		—		—		—		—		(52)		—		—		—
Dividends declared, non-controlling interests	—		—		—		—		—		—		(2)		—		—

Share-based compensation, net of issuance	—		—		2		2		—		—		—		9		—


Other comprehensive income (loss)	—		—		—		—		72		—		—		—		(1)
Balance as of June 30, 2025	$	—	$	1	$	1,160	$	(1,391)	$	(953)	$	5,380	$	21	$	51	$	7

Schedule of basic and diluted earnings per common share

The following table presents information about the computation of basic and diluted earnings per common share (“EPS”):


	Three Months Ended June 30, 2026	Three Months Ended June 30, 2025
			Net Income Attributable to Ingredion		Weighted Average Shares	Per Share Amount		Net Income Attributable to Ingredion		Weighted Average Shares	Per Share Amount
Basic EPS			$	114	63.3	$	1.80	$	196	64.5	$	3.04
Effect of Dilutive Securities (i)					0.6					1.1
Diluted EPS			$	114	63.9	$	1.78	$	196	65.6	$	2.99


	Six Months Ended June 30, 2026					Six Months Ended June 30, 2025
	Net Income Attributable to Ingredion		Weighted Average Shares	Per Share Amount		Net Income Attributable to Ingredion		Weighted Average Shares	Per Share Amount
Basic EPS	$	256	63.2	$	4.05	$	393	64.5	$	6.09
Effect of Dilutive Securities (i)			0.7					1.1
Diluted EPS	$	256	63.9	$	4.01	$	393	65.6	$	5.99

_________________

(i)Incremental shares from assumed exercise of dilutive stock options, vesting of dilutive stock options, and vesting of dilutive RSUs and other awards.

Financing Arrangements (Tables)

6 Months Ended

Jun. 30, 2026

Debt Disclosure [Abstract]

Schedule of debt

Debt carrying amounts, net of related discounts, premiums and debt issuance costs, were as follows:


	As of June 30, 2026		As of December 31, 2025
2.900% senior notes due June 1, 2030	$	597	$	597
3.200% senior notes due October 1, 2026 (i)	500		499
3.900% senior notes due June 1, 2050	392		392
6.625% senior notes due April 15, 2037	253		253
Revolving credit agreement	—		—
Other long-term borrowings	—		1
Total long-term debt	1,742		1,742

Other short-term borrowings	41		48
Delayed draw term loan facility	—		—
Bridge facility	—		—
Total short-term borrowings	41		48
Total debt	$	1,783	$	1,790

_________________

(i)The senior notes due October 1, 2026 are classified as long-term debt as we have the intent and ability to refinance them on a long-term basis.

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies On November 17, 2025, we entered into a lease for a new Global Innovation headquarters facility that will be built in Bridgewater, New Jersey, where we currently lease another facility for research and operations. When the Global Innovation headquarters construction is substantially complete and ready for our use, which we estimate will be in the first half of 2028, subject to environmental conditions, structural dependencies and regulatory approvals, we will begin lease payments for a term of 25 years. Lease payments will be primarily based on the cost to construct the facility, which we estimate will be approximately $145 million. We will file to recover previously taxable local government tax incentives in Brazil when we believe that the recovery will be probable. As of June 30, 2026 and December 31, 2025, we had $13 million and $21 million of remaining tax incentives, which have decreased due to use of the tax credits. We expect to use a portion of these credits within one year. As of June 30, 2026, we recorded $7 million in Accounts receivable, net and $6 million in Other non-current assets on the Condensed Consolidated Balance Sheets. We are currently subject to claims and suits arising in the ordinary course of business, including workplace and labor matters, asbestos related claims, environmental proceedings and other commercial claims. We also routinely receive inquiries from regulators and other government authorities relating to various aspects of our business, including with respect to compliance with laws and regulations relating to the environment, and at any given time we have matters at various stages of resolution with the applicable government authorities. The outcomes of these matters are not within our complete control and may not be known for prolonged periods. We do not believe that the results of currently known legal proceedings and inquiries will be material to us. There can be no assurance, however, that such proceedings, matters, 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 our financial condition or results of operations.

Pension and Other Postretirement Benefits (Tables)

6 Months Ended

Jun. 30, 2026

Retirement Benefits [Abstract]

Schedule of components of net periodic benefit (cost)

Components of net periodic (benefit) cost consist of the following for the periods presented:


	Three Months Ended June 30,						Six Months Ended June 30,
		U.S. Plans	Non-U.S. Plans								U.S. Plans	Non-U.S. Plans
			2026		2025		2026		2025				2026		2025		2026		2025
Service cost			$	—	$	—	$	1	$	—			$	1	$	1	$	2	$	1
Interest cost			4		4		3		2				7		7		5		4
Expected return on plan assets			(5)		(4)		(3)		(2)				(9)		(8)		(5)		(4)


Net periodic (benefit) cost			$	(1)	$	—	$	1	$	—			$	(1)	$	—	$	2	$	1

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 948	$ 1,030
Short-term investments	4	3
Accounts receivable, net	1,386	1,185
Inventories	1,109	1,227
Prepaid expenses and assets held for sale	76	60
Total current assets	3,523	3,505
Property, plant and equipment, net of accumulated depreciation of $3,764 and $3,727	2,521	2,526
Goodwill	917	922
Intangible assets, net of accumulated amortization of $367 and $354	337	347
Other non-current assets	772	597
Total assets	8,070	7,897
Current liabilities:
Short-term borrowings	41	48
Accounts payable	651	693
Accrued liabilities and liabilities held for sale	567	575
Total current liabilities	1,259	1,316
Long-term debt	1,742	1,742
Other non-current liabilities	496	473
Total liabilities	3,497	3,531
Share-based payments subject to redemption	49	64
Redeemable non-controlling interests	0	7
Ingredion stockholders’ equity:
Preferred stock — authorized 25.0 shares — $0.01 par value, none issued	0	0
Common stock — authorized 200.0 shares — $0.01 par value, 77.8 shares issued at June 30, 2026 and December 31, 2025	1	1
Additional paid-in capital	1,163	1,155
Less: Treasury stock (common stock: 14.7 and 14.8 shares at June 30, 2026 and December 31, 2025) at cost	(1,553)	(1,555)
Accumulated other comprehensive loss	(848)	(937)
Retained earnings	5,761	5,610
Total Ingredion stockholders’ equity	4,524	4,274
Non-redeemable non-controlling interests	0	21
Total stockholders’ equity	4,524	4,295
Total liabilities and stockholders’ equity	$ 8,070	$ 7,897

Investments - Schedule of Investments (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Investments [Abstract]
Equity method investments	$ 201	$ 117
Equity investments	26	27
Marketable securities	28	6
Total investments	$ 255	$ 150

- Definition

+ References + Details

Segment Information - Property, Plant and Equipment (Details) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Segment information
Total property, plant and equipment, net	$ 2,521	$ 2,526
All Other
Segment information
Total property, plant and equipment, net	300	343
T&HS \| Operating Segments
Segment information
Total property, plant and equipment, net	994	979
F&II–LATAM \| Operating Segments
Segment information
Total property, plant and equipment, net	583	592
F&II–U.S./Canada \| Operating Segments
Segment information
Total property, plant and equipment, net	$ 644	$ 612

- Definition

Amount, after accumulated depreciation, depletion, and amortization, of property, plant, and equipment. Includes, but is not limited to, land and land improvement; building; machinery and equipment; furniture and fixture; and work of art, historical treasure, or similar asset classified as collection.

+ References

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+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Basis of Presentation and New Accounting Standards (Policies)	6 Months Ended
	Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
New Accounting Standards Not Yet Adopted	New Accounting Standards Not Yet Adopted In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosure (Subtopic 220-40). The amendments in this update enhance disclosures about a public business entity’s expenses and provide more detailed information about the types of expenses included in certain footnotes to our financial statements. This ASU is effective for annual periods beginning after December 15, 2026, with early adoption permitted. We are currently assessing the impact of this ASU on our Condensed Consolidated Financial Statements. In November 2025, the FASB issued ASU No. 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements. The new standard aligns hedge accounting with the economics of an entity’s risk management activities and amends the existing requirement that hedges of groups of individual forecasted transactions that use a single derivative as the hedging instrument must share the same risk exposure to be accounted as a cash flow hedge. Under the ASU, hedges of groups of individual forecasted transactions that use a single derivative as the hedging instrument need only share similar risk exposure to be accounted as a cash flow hedge, with the quantitative threshold consistent with the high effective threshold used in the assessment of cash flow hedges. The ASU also clarifies risk assessment approaches for risk exposures in a group of forecasted transactions. This ASU is effective for annual periods beginning after December 15, 2026, with early adoption permitted. We are currently assessing the impact of this ASU on our Condensed Consolidated Financial Statements. In May 2026, the FASB issued ASU No. 2026-02, Environmental Credits and Environmental Credit Obligations (Topic 818). The new standard establishes recognition, measurement, presentation and disclosure of environmental credits and environmental credit obligations. Under the ASU, environmental credits will be recognized if an environmental credit is used to settle an environmental credit obligation, the environmental credit transfers to the company in an exchange transaction, or the environmental credit is used in a nonreciprocal transfer. This ASU is effective for annual periods beginning after December 15, 2027, with early adoption permitted. We are currently assessing the impact of this ASU on our Condensed Consolidated Financial Statements.