Ingredion Inc
For the period ended Dec 31, 2023. Filed Feb 21, 2024.
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FY2023 · Filed Feb 21, 2024
INGR$91.95-0.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Income
(dollars and shares in millions, except per share amounts)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Net sales | $8,160 | $7,946 | $6,894 |
| Cost of sales | 6,411 | 6,452 | 5,563 |
| Gross profit | 1,749 | 1,494 | 1,331 |
| Operating expenses | 789 | 715 | 668 |
| Other operating (income) expense | (8) | 13 | (34) |
| Restructuring/impairment charges | 11 | 4 | 387 |
| Operating income | 957 | 762 | 310 |
| Financing costs | 114 | 99 | 74 |
| Other non-operating expense (income) | 4 | (5) | (12) |
| Income before income taxes | 839 | 668 | 248 |
| Provision for income taxes | 188 | 166 | 123 |
| Net income | 651 | 502 | 125 |
| Less: Net income attributable to non-controlling interests | 8 | 10 | 8 |
| Net income attributable to Ingredion | $643 | $492 | $117 |
| Weighted average common shares outstanding: | |||
| Basic | 66.0 | 66.2 | 67.1 |
| Diluted | 67.0 | 67.0 | 67.8 |
| Earnings per common share of Ingredion: | |||
| Basic | $9.74 | $7.43 | $1.74 |
| Diluted | $9.60 | $7.34 | $1.73 |
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