Segment Information

9 Months Ended

Sep. 30, 2015

Segment Information

Segment Information

6.Segment Information

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

	Three Months Ended September 30,						Nine Months Ended September 30,
(in millions)	2015			2014			2015			2014
Net Sales
North America	$	880.0		$	805.6		$	2,503.1		$	2,362.0
South America	256.4			307.6			764.5			906.2
Asia Pacific	174.4			205.8			553.1			594.3
EMEA	125.9			141.3			395.1			437.6
Total	$	1,436.7		$	1,460.3		$	4,215.8		$	4,300.1
Operating Income
North America	$	133.0		$	113.1		$	362.2		$	288.7
South America	28.4			27.4			73.0			73.8
Asia Pacific	27.6			27.0			81.3			80.1
EMEA	21.7			22.2			66.8			68.7
Corporate (a)	(18.3		)	(11.6		)	(54.4		)	(48.2		)
Sub-total	$	192.4		$	178.1		$	528.9		$	463.1
Impairment/restructuring charges	(13.8		)	—			(24.2		)	—
Acquisition/integration costs	(1.6		)	—			(9.3		)	—
Charge for fair value markup of acquired inventory	(2.0		)	—			(8.4		)	—
Total	$	175.0		$	178.1		$	487.0		$	463.1

(a) Includes $4 million of expense relating to a tax indemnification agreement with offsetting income of $4 million recorded in the provision for income taxes for the three and nine months ended September 30, 2015.  For the three and nine months ended September 30, 2014, includes $7 million of income relating to this tax indemnification agreement with an offsetting expense of $7 million recorded in the provision for income taxes. See Note 14 for additional information.

(in millions)	At Sept. 30, 2015		At Dec. 31, 2014
Total Assets
North America	$	3,474	$	2,907
South America	740		923
Asia Pacific	719		711
EMEA	511		550
Total	$	5,444	$	5,091