Segment Information

3 Months Ended

Mar. 31, 2021

Segment Information

Segment Information

13. 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 EMEA. Its North America segment includes businesses in the U.S., Mexico, and Canada. The Company’s South America segment includes businesses in Brazil, Colombia, Ecuador, and the Southern Cone of South America, which includes Argentina, Peru, Chile, and Uruguay. Its Asia-Pacific segment includes businesses in South Korea, Thailand, China, Australia, Japan, Indonesia, Singapore, the Philippines, India, Malaysia, New Zealand, and Vietnam. The Company’s EMEA segment includes businesses in Pakistan, Germany, the United Kingdom, South Africa, and Kenya. The Company has aggregated the PureCircle operating segment into the Asia-Pacific reportable segment. Net sales by product are not presented because to do so would be impracticable.

Presented below are the Company’s net sales to unaffiliated customers by reportable segment for the three months ended March 31, 2021 and 2020.

	Three Months Ended
	March 31,
(in millions)	2021		2020
Net sales to unaffiliated customers:
North America	$	945	$	963
South America		273		237
Asia-Pacific		235		189
EMEA		161		154
Total net sales	$	1,614	$	1,543

Presented below is the Company’s operating income by reportable segment for the three months ended March 31, 2021, and 2020.

	Three Months Ended
	March 31,
(in millions)	2021		2020
Operating income:
North America	$	134	$	125
South America		40		26
Asia-Pacific		25		20
EMEA		31		27
Corporate		(29)		(31)
Subtotal		201		167
Acquisition/integration costs		(1)		—
Restructuring/impairment charges		(10)		(14)
Impairment charges related to assets classified as held for sale		(360)		—
Total operating income	$	(170)	$	153

Presented below are the Company’s total assets by reportable segment as of March 31, 2021, and December 31, 2020.

	As of		As of
(in millions)	March 31, 2021		December 31, 2020
Assets:
North America (a)	$	4,240	$	4,231
South America		751		818
Asia-Pacific		1,257		1,255
EMEA		555		554
Total assets	$	6,803	$	6,858

(a) For purposes of presentation, North America includes Corporate assets.