Ingredion Inc. Files 2023 Annual Report on Form 10-K

Ticker: INGR · Form: 10-K · Filed: 2024-02-21T00:00:00.000Z

Sentiment: neutral

Topics: 10-K, Annual Report, Ingredion, Financials, SEC Filing

TL;DR

<b>Ingredion Inc. has submitted its 2023 annual report (10-K), detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

Ingredion Inc (INGR) filed a Annual Report (10-K) with the SEC on February 21, 2024. Ingredion Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 5 Westbrook Corporate Center, Westchester, IL 60154. Ingredion Inc. was formerly known as Corn Products International Inc. until September 17, 1997. The report is filed under the Securities Exchange Act of 1934.

Why It Matters

For investors and stakeholders tracking Ingredion Inc, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Ingredion's financial health, operational strategies, and risk factors for the fiscal year 2023, which is crucial for investors to assess the company's performance and future outlook. As a public document, this filing ensures transparency and allows stakeholders, including investors, analysts, and regulators, to review Ingredion's financial position and compliance with reporting standards.

Risk Assessment

Risk Level: low — Ingredion Inc shows low risk based on this filing. The risk level is low as this is a standard annual filing (10-K) providing historical financial data and business overview, without immediate indications of significant new risks or negative trends.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-K to understand Ingredion's performance drivers and strategic initiatives for 2023.

Key Numbers

Key Players & Entities

FAQ

When did Ingredion Inc file this 10-K?

Ingredion Inc filed this Annual Report (10-K) with the SEC on February 21, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Ingredion Inc (INGR).

Where can I read the original 10-K filing from Ingredion Inc?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Ingredion Inc.

What are the key takeaways from Ingredion Inc's 10-K?

Ingredion Inc filed this 10-K on February 21, 2024. Key takeaways: Ingredion Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023.. The filing covers the period from January 1, 2023, to December 31, 2023.. The company's principal executive offices are located at 5 Westbrook Corporate Center, Westchester, IL 60154..

Is Ingredion Inc a risky investment based on this filing?

Based on this 10-K, Ingredion Inc presents a relatively low-risk profile. The risk level is low as this is a standard annual filing (10-K) providing historical financial data and business overview, without immediate indications of significant new risks or negative trends.

What should investors do after reading Ingredion Inc's 10-K?

Review the detailed financial statements and management's discussion and analysis within the 10-K to understand Ingredion's performance drivers and strategic initiatives for 2023. The overall sentiment from this filing is neutral.

How does Ingredion Inc compare to its industry peers?

Ingredion Inc. operates in the grain mill products industry, processing grains into value-added ingredients for food, beverage, and industrial applications.

Are there regulatory concerns for Ingredion Inc?

The filing adheres to the reporting requirements of the Securities Exchange Act of 1934, ensuring transparency and compliance for publicly traded companies.

Industry Context

Ingredion Inc. operates in the grain mill products industry, processing grains into value-added ingredients for food, beverage, and industrial applications.

Regulatory Implications

The filing adheres to the reporting requirements of the Securities Exchange Act of 1934, ensuring transparency and compliance for publicly traded companies.

What Investors Should Do

  1. Analyze the financial statements (Income Statement, Balance Sheet, Cash Flow) for the fiscal year 2023.
  2. Review the Management's Discussion and Analysis of Financial Condition and Results of Operations for insights into performance drivers.
  3. Examine the Risk Factors section for any new or evolving risks impacting the company.

Key Dates

Year-Over-Year Comparison

This is the initial filing of the 2023 Form 10-K, providing the latest annual financial and operational data for Ingredion Inc.

Filing Stats: 4,436 words · 18 min read · ~15 pages · Grade level 15.4 · Accepted 2024-02-21 10:11:32

Key Financial Figures

Filing Documents

Business

Business 5 Item 1A.

Risk Factors

Risk Factors 13 Item 1B. Unresolved Staff Comments 22 Item 1C. Cybersecurity 22 Item 2.

Properties

Properties 24 Item 3.

Legal Proceedings

Legal Proceedings 25 Item 4. Mine Safety Disclosures 25 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 26 Item 6. [Reserved] 26 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 38 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 40 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 85 Item 9A.

Controls and Procedures

Controls and Procedures 85 Item 9B. Other Information 87 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 87 Part III Item 10. Directors, Executive Officers and Corporate Governance 88 Item 11.

Executive Compensation

Executive Compensation 88 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 88 Item 13. Certain Relationships and Related Transactions, and Director Independence 88 Item 14. Principal Accountant Fees and Services 88 Part IV Item 15. Exhibit and Financial Statement Schedules 89 Item 16. Form 10-K Summary 94

Signatures

Signatures 95 2

Forward-Looking Statements

Forward-Looking Statements This Form 10-K contains or may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Ingredion Incorporated intends these forward-looking statements to be covered by the safe harbor provisions for such statements. Forward-looking statements include, among others, any statements regarding our prospects, future operations, or future financial condition, earnings, net sales, tax rates, capital expenditures, cash flows, expenses or other financial items, including management's plans or strategies and objectives for any of the foregoing and any assumptions, expectations or beliefs underlying any of the foregoing. These statements can sometimes be identified by the use of forward-looking words such as "may," "will," "should," "anticipate," "assume," "believe," "plan," "project," "estimate," "expect," "intend," "continue," "pro forma," "forecast," "outlook," "propels," "opportunities," "potential," "provisional," or other similar expressions or the negative thereof. All statements other than statements of historical facts therein are "forward-looking statements." These statements are based on current circumstances or expectations, but are subject to certain inherent risks and uncertainties, many of which are difficult to predict and beyond our control. Although we believe our expectations reflected in these forward-looking statements are based on reasonable assumptions, investors are cautioned that no assurance can be given that our expectations will prove correct. Actual results and developments may differ materially from the expectations expressed in or implied by these statements, based on various risks and uncertainties, including geopolitical conflicts and actions arising from them, including the impacts on the availability and prices of raw materials and energy supplies, supply chain interruptions, and vola

BUSINESS

ITEM 1. BUSINESS Our Company Ingredion Incorporated (together with its consolidated subsidiaries, the "Company," "Ingredion," "we," "us," and "our") is a leading global ingredients solutions provider that transforms grains, fruits, vegetables and other plant-based materials into value-added ingredient solutions for the food, beverage, animal nutrition, brewing and industrial markets. Our innovative ingredient solutions help customers stay on trend with simple ingredients and other in-demand ingredients. Our Purpose is to bring the potential of people, nature and technology together to make life better. We develop, produce and sell a variety of food and beverage ingredients, primarily starches and sweeteners, for a wide range of industries. Currently, we manage our operations geographically on a regional basis, with our businesses and investments classified into the following reportable business segments: North America – U.S., Mexico and Canada South America – Brazil, Colombia, Peru, Ecuador and Argentina Asia-Pacific – Thailand, China, Japan, Australia, Indonesia, India, the Philippines, Malaysia, Singapore, New Zealand, Vietnam and previously South Korea, in which we sold our business on February 1, 2024 Europe, Middle East and Africa ("EMEA") – Germany, Pakistan, the United Kingdom, South Africa and Poland In November 2023, we announced plans to reorganize our business operations, which will result in a change to our reportable business segments. Once the reorganization is complete, which we expect will occur in 2024, we anticipate that our production assets and commercial efforts will align with a global focus on Texture and Healthful Solutions, a local focus on Food and Industrial Ingredients, and other businesses. We will continue to report our results using the existing reportable segment structure until the reorganization is complete, the new segments are operational and discrete financial information consistent with the new segments is being provided

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