$INGR
Ingredion Inc

2012 Q4 Form 10-Q Financial Statement

#000110465912073662 Filed on November 02, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q4
Revenue $1.644B $1.679B $1.548B
YoY Change 6.2% 3.13% 10.01%
Cost Of Revenue $1.310B $1.366B $1.267B
YoY Change 3.39% 1.04% 9.09%
Gross Profit $333.0M $313.0M $280.0M
YoY Change 18.93% 13.41% 13.96%
Gross Profit Margin 20.26% 18.64% 18.09%
Selling, General & Admin $151.2M $137.1M $143.5M
YoY Change 5.37% 4.5% -1.31%
% of Gross Profit 45.41% 43.8% 51.25%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $50.00M $54.00M $55.00M
YoY Change -9.09% 1.89% 10.0%
% of Gross Profit 15.02% 17.25% 19.64%
Operating Expenses $139.4M $137.1M $110.0M
YoY Change 26.73% 4.5% -22.86%
Operating Profit $193.6M $168.8M $170.0M
YoY Change 13.88% 18.54% 64.89%
Interest Expense -$14.30M -$16.00M -$19.70M
YoY Change -27.41% 25.98% -11.66%
% of Operating Profit -7.39% -9.48% -11.59%
Other Income/Expense, Net
YoY Change
Pretax Income $171.0M $152.8M $146.6M
YoY Change 16.64% 17.81% 83.71%
Income Tax $57.30M $38.90M $49.60M
% Of Pretax Income 33.51% 25.46% 33.83%
Net Earnings $112.0M $113.9M $95.40M
YoY Change 17.4% 27.26% 84.17%
Net Earnings / Revenue 6.81% 6.78% 6.16%
Basic Earnings Per Share $1.45 $1.47 $1.25
Diluted Earnings Per Share $1.42 $1.45 $1.22
COMMON SHARES
Basic Shares Outstanding 76.56M shares 76.50M shares
Diluted Shares Outstanding 77.80M shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $628.0M $532.0M $401.0M
YoY Change 56.61% 90.68% 32.78%
Cash & Equivalents $609.0M $513.0M $401.0M
Short-Term Investments $19.00M $19.00M $0.00
Other Short-Term Assets $84.00M $51.00M $95.00M
YoY Change -11.58% -32.0% 115.91%
Inventory $834.0M $792.0M $769.0M
Prepaid Expenses $19.00M $25.00M $24.00M
Receivables $814.0M $846.0M $837.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.360B $2.221B $2.102B
YoY Change 12.27% 16.04% 19.84%
LONG-TERM ASSETS
Property, Plant & Equipment $2.193B $2.147B $2.156B
YoY Change 1.72% 2.14% 0.0%
Goodwill $557.0M $559.0M $562.0M
YoY Change -0.89% -1.75%
Intangibles $329.0M $336.0M $347.0M
YoY Change -5.19%
Long-Term Investments $10.00M $10.00M $10.00M
YoY Change 0.0% 11.11% -16.67%
Other Assets $122.0M $123.0M $121.0M
YoY Change 0.83% -34.22% -33.52%
Total Long-Term Assets $3.232B $3.194B $3.215B
YoY Change 0.53% -1.11% -2.16%
TOTAL ASSETS
Total Short-Term Assets $2.360B $2.221B $2.102B
Total Long-Term Assets $3.232B $3.194B $3.215B
Total Assets $5.592B $5.415B $5.317B
YoY Change 5.17% 5.27% 5.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $590.0M $736.0M $529.0M
YoY Change 11.53% 3.37% -32.18%
Accrued Expenses $265.0M $249.0M
YoY Change 6.43%
Deferred Revenue
YoY Change
Short-Term Debt $76.00M $45.00M $148.0M
YoY Change -48.65% -63.11% 68.18%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $933.0M $781.0M $926.0M
YoY Change 0.76% -6.35% 6.07%
LONG-TERM LIABILITIES
Long-Term Debt $1.724B $1.728B $1.801B
YoY Change -4.28% -1.31% 7.14%
Other Long-Term Liabilities $62.00M $232.0M $63.00M
YoY Change -1.59% 3.11% -74.7%
Total Long-Term Liabilities $297.0M $216.0M $243.0M
YoY Change 22.22% -89.07% -87.41%
TOTAL LIABILITIES
Total Short-Term Liabilities $933.0M $781.0M $926.0M
Total Long-Term Liabilities $297.0M $216.0M $243.0M
Total Liabilities $1.230B $997.0M $1.169B
YoY Change 5.22% -67.56% -61.86%
SHAREHOLDERS EQUITY
Retained Earnings $1.769B $1.677B $1.412B
YoY Change 25.28%
Common Stock $1.149B $1.138B $1.147B
YoY Change 0.17%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.000M $21.00M $42.00M
YoY Change -85.71%
Treasury Stock Shares 109.8K shares 429.1K shares 938.7K shares
Shareholders Equity $2.437B $2.441B $2.104B
YoY Change
Total Liabilities & Shareholders Equity $5.592B $5.415B $5.317B
YoY Change 5.17% 5.27% 5.5%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q4
OPERATING ACTIVITIES
Net Income $112.0M $113.9M $95.40M
YoY Change 17.4% 27.26% 84.17%
Depreciation, Depletion And Amortization $50.00M $54.00M $55.00M
YoY Change -9.09% 1.89% 10.0%
Cash From Operating Activities $169.0M $245.0M $153.0M
YoY Change 10.46% 444.44% 121.74%
INVESTING ACTIVITIES
Capital Expenditures -$111.0M -$74.00M -$105.0M
YoY Change 5.71% 7.25% 52.17%
Acquisitions
YoY Change
Other Investing Activities $9.000M -$18.00M $6.000M
YoY Change 50.0% 1700.0% -100.47%
Cash From Investing Activities -$102.0M -$92.00M -$99.00M
YoY Change 3.03% 31.43% -92.6%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 33.00M -84.00M 69.00M
YoY Change -52.17% -286.67% -463.16%
NET CHANGE
Cash From Operating Activities 169.0M 245.0M 153.0M
Cash From Investing Activities -102.0M -92.00M -99.00M
Cash From Financing Activities 33.00M -84.00M 69.00M
Net Change In Cash 100.0M 69.00M 123.0M
YoY Change -18.7% 245.0% -109.56%
FREE CASH FLOW
Cash From Operating Activities $169.0M $245.0M $153.0M
Capital Expenditures -$111.0M -$74.00M -$105.0M
Free Cash Flow $280.0M $319.0M $258.0M
YoY Change 8.53% 179.82% 86.96%

Facts In Submission

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dei Entity Registrant Name
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dei Entity Central Index Key
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dei Document Type
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dei Document Period End Date
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dei Amendment Flag
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PaymentsToAcquireBusinessesNetOfCashAcquired
15000000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
1000000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-174000000 USD
ingr Proceeds From Borrowings
ProceedsFromBorrowings
98000000 USD
ingr Payments On Debt
PaymentsOnDebt
13000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
48000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
15000000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
37000000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
2000000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
17000000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
-13000000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
EffectOfExchangeRateOnCashAndCashEquivalentsContinuingOperations
-1000000 USD
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-230000000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
1000000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
18000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
16000000 USD
ingr Payments On Debt
PaymentsOnDebt
499000000 USD
ingr Proceeds From Borrowings
ProceedsFromBorrowings
317000000 USD
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-220000000 USD
ingr Payments To Acquire Property Plant And Equipment Net
PaymentsToAcquirePropertyPlantAndEquipmentNet
202000000 USD
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
563000000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-43000000 USD
us-gaap Asset Impairment Charges
AssetImpairmentCharges
11000000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
161000000 USD
ingr Increase Decrease In Accounts Receivable And Prepaid Expense
IncreaseDecreaseInAccountsReceivableAndPrepaidExpense
-24000000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
27000000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-13000000 USD
us-gaap Increase Decrease In Margin Deposits Outstanding
IncreaseDecreaseInMarginDepositsOutstanding
-44000000 USD
CY2010Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
302000000 USD
CY2011Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
279000000 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76500000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77900000 shares
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.47
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.45
CY2011Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.15
CY2011Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.12
CY2012Q3 us-gaap Preferred Stock Value
PreferredStockValue
USD
CY2011Q4 us-gaap Preferred Stock Value
PreferredStockValue
USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
112000000 USD
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
-23000000 USD
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
64700000 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
6300000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
504700000 USD
ingr Financing Costs Net
FinancingCostsNet
58300000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
446400000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
120400000 USD
us-gaap Profit Loss
ProfitLoss
326000000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
5300000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
320700000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
5141900000 USD
us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
253700000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
4888200000 USD
us-gaap Cost Of Goods Sold
CostOfGoodsSold
3983900000 USD
us-gaap Gross Profit
GrossProfit
904300000 USD
us-gaap Operating Expenses
OperatingExpenses
404900000 USD
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
10200000 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
27000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
482600000 USD
ingr Financing Costs Net
FinancingCostsNet
52600000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
430000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
109700000 USD
us-gaap Profit Loss
ProfitLoss
320300000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
4300000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
316000000 USD
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76500000 shares
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77800000 shares
CY2011Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76500000 shares
CY2011Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78100000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76500000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78300000 shares
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2011Q3 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-32000000 USD
ingr Operating Segment Number
OperatingSegmentNumber
4 segment
CY2012Q3 ingr Segments Reporting Information Operating Income Loss
SegmentsReportingInformationOperatingIncomeLoss
179000000 USD
CY2011Q3 ingr Segments Reporting Information Operating Income Loss
SegmentsReportingInformationOperatingIncomeLoss
151400000 USD
ingr Segments Reporting Information Operating Income Loss
SegmentsReportingInformationOperatingIncomeLoss
513900000 USD
ingr Segments Reporting Information Operating Income Loss
SegmentsReportingInformationOperatingIncomeLoss
472800000 USD
CY2012Q3 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
600000 USD
CY2011Q3 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
5300000 USD
us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
20200000 USD
us-gaap Litigation Settlement Gross
LitigationSettlementGross
58400000 USD
CY2012Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1920000000 USD
CY2011Q4 us-gaap Inventory Finished Goods And Work In Process
InventoryFinishedGoodsAndWorkInProcess
436000000 USD
CY2012Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
285000000 USD
CY2011Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
294000000 USD
CY2012Q3 us-gaap Other Inventory Supplies
OtherInventorySupplies
54000000 USD
CY2011Q4 us-gaap Other Inventory Supplies
OtherInventorySupplies
39000000 USD
CY2012Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.255 pure
CY2011Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.310 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.255 pure
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.270 pure
CY2012Q3 ingr Effective Income Tax Rate Continuing Operations Excluding Significant Adjustments
EffectiveIncomeTaxRateContinuingOperationsExcludingSignificantAdjustments
0.29 pure
ingr Effective Income Tax Rate Continuing Operations Excluding Significant Adjustments
EffectiveIncomeTaxRateContinuingOperationsExcludingSignificantAdjustments
0.31 pure
CY2012Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4500000 USD
CY2011Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5000000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13000000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12400000 USD
CY2012Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1400000 USD
CY2011Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1400000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
4000000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3900000 USD
CY2012Q3 us-gaap Defined Benefit Plan Estimated Future Employer Contributions In Current Fiscal Year
DefinedBenefitPlanEstimatedFutureEmployerContributionsInCurrentFiscalYear
38000000 USD
CY2012Q3 us-gaap Inventory Finished Goods And Work In Process
InventoryFinishedGoodsAndWorkInProcess
453000000 USD
ingr Effective Income Tax Rate Continuing Operations Excluding Significant Adjustments
EffectiveIncomeTaxRateContinuingOperationsExcludingSignificantAdjustments
0.31 pure
us-gaap Other Comprehensive Income Reclassification Of Defined Benefit Plans Net Gain Loss Recognized In Net Periodic Benefit Cost Net Of Tax
OtherComprehensiveIncomeReclassificationOfDefinedBenefitPlansNetGainLossRecognizedInNetPeriodicBenefitCostNetOfTax
4000000 USD
CY2012Q3 us-gaap Other Short Term Investments
OtherShortTermInvestments
19000000 USD
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
18000000 USD
CY2012Q3 us-gaap Common Stock Value
CommonStockValue
1000000 USD
us-gaap Income Tax Reconciliation Nondeductible Expense Impairment Losses
IncomeTaxReconciliationNondeductibleExpenseImpairmentLosses
4000000 USD

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