Segment Information

12 Months Ended

Dec. 31, 2013

Segment Information

Segment Information

NOTE 12 - Segment Information

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

(in millions)	2013			2012			2011
Net sales to unaffiliated customers:
North America	$	3,647		$	3,741		$	3,356
South America	1,334			1,462			1,569
Asia Pacific	805			816			764
EMEA	542			513			530
Total	$	6,328		$	6,532		$	6,219
Operating income:
North America	$	401		$	408		$	322
South America	116			198			203
Asia Pacific	97			95			79
EMEA	74			78			84
Corporate	(75		)	(78		)	(64		)
Subtotal	613			701			624
Restructuring / impairment charges (a)	—			(36		)	(10		)
Gain from change in benefit plans	—			5			30
Integration / acquisition costs	—			(4		)	(31		)
Gain from land sale	—			2			—
NAFTA award	—			—			58
Total	$	613		$	668		$	671
Total assets:
North America	$	3,008		$	3,116		$	2,879
South America	1,088			1,230			1,218
Asia Pacific	711			730			757
EMEA	553			516			463
Total	$	5,360		$	5,592		$	5,317
Depreciation and amortization:
North America	$	112		$	130		$	128
South America	41			44			47
Asia Pacific	25			24			23
EMEA	16			13			13
Total	$	194		$	211		$	211
Capital expenditures:
North America	$	141		$	162		$	119
South America	76			75			84
Asia Pacific	28			33			24
EMEA	53			43			36
Total	$	298		$	313		$	263

(a). For 2012, includes $20 million of charges for impaired assets and restructuring costs in Kenya, $11 million of charges to write-down certain equipment as part of the Company’s North American manufacturing optimization plan and $5 million of charges for impaired assets in China and Colombia.  For 2011, includes $10 million of charges to write-down certain equipment as part of the Company’s North American manufacturing optimization plan.

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

	Net Sales
(in millions)	2013		2012		2011
United States	$	1,970	$	2,035	$	1,863
Mexico	1,130		1,143		957
Brazil	670		731		841
Canada	547		564		536
Argentina	305		356		344
Korea	301		306		284
Others	1,405		1,397		1,394
Total	$	6,328	$	6,532	$	6,219

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

	Long-lived Assets
(in millions)	2013		2012		2011
United States	$	822	$	824	$	830
Brazil	321		346		370
Mexico	296		290		277
Canada	181		199		189
Germany	151		114		90
Thailand	112		117		112
Argentina	92		111		107
Korea	91		90		83
Others	219		234		229
Total	$	2,285	$	2,325	$	2,287