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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Condensed Consolidated Statements of Income        
Net sales before shipping and handling costs $ 1,574 $ 1,563 $ 4,660 $ 4,752
Less: shipping and handling costs 117 113 349 337
Net sales 1,457 1,450 4,311 4,415
Cost of sales 1,113 1,116 3,322 3,367
Gross profit 344 334 989 1,048
Operating expenses 153 148 457 465
Other income, net (2) (3) (3) (7)
Restructuring/impairment charges 28 34 41 45
Operating income 165 155 494 545
Financing costs, net 24 24 62 65
Other, non-operating expense (income), net 1 (1) 1 (3)
Income before income taxes 140 132 431 483
Provision for income taxes 38 34 120 126
Net income 102 98 311 357
Less: Net income attributable to non-controlling interests 3 3 7 8
Net income attributable to Ingredion $ 99 $ 95 $ 304 $ 349
Weighted average common shares outstanding:        
Basic (in shares) 66.9 71.2 66.9 71.8
Diluted (in shares) 67.4 71.9 67.4 72.7
Earnings per common share of Ingredion:        
Basic (in dollars per share) $ 1.48 $ 1.33 $ 4.54 $ 4.86
Diluted (in dollars per share) $ 1.47 $ 1.32 $ 4.51 $ 4.80