UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Registrant's telephone number, including area code (708) 551-2600 For the fiscal year ended December 31, 2022 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-13397 INGREDION INCORPORATED (Exact name of registrant as specified i ...

Ingredion, Inc. (NYSE:INGR) Q4 2022 Earnings Conference Call February 8, 2023 9:00 AM ET Company Participants Noah Weiss - VP, IR James Zallie - President, CEO & Director James Gray - EVP & CFO Conference Call Participants Benjamin Theurer - Barclays Bank Adam Samuelson - Goldman Sachs Group Cody Ross - UBS Robert Moskow - Crédit Suisse Benjamin Bienvenu - Stephens Inc. Operator Good day, and thank you for standing by. Welcome to the Ingredion Incorporated Fourth Quarter and Full Year 2022 Earnings Conferen ...

Financial Performance - Net sales for the three months ended September 30, 2022, were $1,763 million, compared to $1,763 million for the same period in 2021, indicating no growth year-over-year [12]. - Gross profit for the nine months ended September 30, 2022, was $1,143 million, a decrease from $1,440 million in 2021, reflecting a decline of approximately 20.7% [12]. - Net income attributable to Ingredion for the three months ended September 30, 2022, was $109 million, down from $119 million in 2021, representing an 8.4% decrease [15]. - Net income for the nine months ended September 30, 2022, was $387 million, compared to $57 million for the same period in 2021, representing a significant increase [23]. - Net income attributable to Ingredion was $130 million for the nine months ended September 30, 2022, compared to $142 million for the same period in 2021, indicating a decrease of approximately 8.5% [95]. - Net income for the three months ended September 30, 2022, was $106 million, resulting in a basic EPS of $1.61, compared to $118 million and $1.76 for the same period in 2021 [98]. - For the nine months ended September 30, 2022, net income was $378 million, with a basic EPS of $5.69, significantly higher than $50 million and $0.74 for the same period in 2021 [99]. Assets and Liabilities - Total assets as of September 30, 2022, increased to $7,403 million from $6,999 million as of December 31, 2021, marking a growth of approximately 5.8% [17]. - Current liabilities rose to $1,949 million as of September 30, 2022, compared to $1,512 million at the end of 2021, an increase of about 28.9% [17]. - Total liabilities as of September 30, 2022, were $4,224 million, up from $3,774 million as of December 31, 2021, representing an increase of approximately 12% [17]. - Total equity as of September 30, 2022, was $4,143 million, compared to $3,899 million as of December 31, 2021, showing growth in equity [20]. - Total debt outstanding was approximately $2.4 billion as of September 30, 2022, with $1.7 billion consisting of senior notes that do not require principal repayment until 2026 through 2050 [151]. Cash Flow and Investments - Cash and cash equivalents decreased to $294 million as of September 30, 2022, from $328 million at the end of 2021, a decline of approximately 10.4% [17]. - Cash provided by operating activities decreased to $80 million in 2022 from $259 million in 2021, indicating a decline in operational cash flow [23]. - Ingredion's capital expenditures for the nine months ended September 30, 2022, were $203 million, consistent with the previous year [23]. - The company repurchased $112 million of common stock in 2022, compared to $68 million in 2021, reflecting an increase in share buybacks [23]. - Total investments increased to $136 million as of September 30, 2022, compared to $132 million at December 31, 2021, with equity investments rising from $16 million to $23 million [37]. Segment Performance - North America segment reported net sales of $1,262 million for the three months ended September 30, 2022, up from $1,083 million in 2021, reflecting a growth of 16.6% [101]. - South America segment net sales increased to $293 million in the three months ended September 30, 2022, compared to $260 million in 2021, marking an increase of 12.7% [101]. - Asia-Pacific segment net sales rose to $278 million for the three months ended September 30, 2022, from $245 million in 2021, representing a growth of 13.5% [101]. - EMEA segment net sales were $190 million for the three months ended September 30, 2022, compared to $175 million in 2021, indicating an increase of 8.6% [101]. - North America's net sales increased by 20% to $3,720 million for the nine months ended September 30, 2022, driven by a 19% improvement in price mix [141]. - South America's net sales increased by 4% to $835 million for the nine months ended September 30, 2022, with a 28% increase when excluding revenues from the Argentina joint venture [143]. - Asia-Pacific's net sales increased by 13% to $825 million for the nine months ended September 30, 2022, driven by a 13% higher price mix [145]. - EMEA's net sales increased by 13% to $579 million for the nine months ended September 30, 2022, with a 23% increase in price mix [147]. Comprehensive Income and Loss - The company reported a comprehensive loss of $3 million for the three months ended September 30, 2022, compared to a comprehensive income of $348 million in the same period of 2021 [15]. - The company reported a comprehensive loss of $155 million for the nine months ended September 30, 2022 [21]. - Net other comprehensive loss for the nine months ended September 30, 2022, was $(155) million, a significant change from a net income of $256 million for the same period in 2021 [94]. - Accumulated Other Comprehensive Loss increased to $(1,052) million as of September 30, 2022, compared to $(897) million at the end of 2021, reflecting a decline of approximately 17.3% [94]. Shareholder Activities - The company declared dividends of $0.65 per share, totaling $(43) million for common stock during the reporting period [95]. - The stock repurchase program authorized on September 26, 2022, allows for the purchase of up to 6 million shares through December 31, 2025 [80]. - During the three months ended September 30, 2022, the company repurchased 325 thousand shares of common stock at a net cost of $29 million, compared to 500 thousand shares for $44 million in the same period of 2021 [81]. Acquisitions and Joint Ventures - Ingredion acquired shares from minority shareholders in PureCircle for $40 million, increasing ownership from 75% to 85% [30]. - The acquisition of Amishi Drugs and Chemicals for $7 million added $2 million of goodwill and intangible assets to the financial statements [31]. - Ingredion acquired KaTech for a total cash payment of $40 million, adding $26 million of goodwill and intangible assets, and $14 million of tangible assets to its financial statements [34]. - Ingredion entered a joint venture with Amyris, contributing $28 million, which included $10 million in cash and $18 million in intellectual property licenses [38]. - The Argentina joint venture was established with Grupo Arcor, involving a transaction valued at $71 million, resulting in a 49% ownership stake [41]. Derivatives and Hedging - As of September 30, 2022, Ingredion had outstanding futures and options contracts hedging approximately 76 million bushels of corn and swap contracts for 30 million mmbtus of natural gas [57]. - Foreign currency derivatives not designated as hedging instruments had a notional value of $441 million for assets and $282 million for liabilities as of September 30, 2022 [59]. - Ingredion's cash flow hedging instruments for foreign currency had a notional value of $782 million for assets and $914 million for liabilities as of September 30, 2022 [60]. - The company recorded net gains of $86 million on commodities-related derivatives instruments, foreign currency hedges, and T-Locks designated as cash flow hedges expected to be reclassified into earnings within the next 12 months [67]. - For the nine months ended September 30, 2022, Ingredion recognized $254 million in gains on derivatives in cash flow hedging relationships, compared to $211 million for the same period in 2021 [66].

Ingredion Incorporated (NYSE:INGR) Q3 2022 Earnings Conference Call November 3, 2022 9:00 AM ET Company Participants Noah Weiss - Vice President-Investor Relations & Corporate Communications Jim Zallie - President & Chief Executive Officer Jim Gray - Executive Vice President & Chief Financial Officer Conference Call Participants Ken Zaslow - BMO Adam Samuelson - Goldman Sachs Rob Moskow - Credit Suisse Benjamin Theurer - Barclays Ben Bienvenu - Stephens Operator Good day, and thank you for standing by. Welc ...

Third Quarter 2022 Earnings Call Jim Zallie President and CEO James Gray Executive Vice President and CFO Opening ceremony for the Company's new state-of-the-art specialty starch facility in Shandong, China Non-GAAP Financial Measures This presentation provides information about adjusted diluted earnings per share ("adjusted EPS"), adjusted operating income, adjusted effective income tax rate, and other financial measures (collectively, the "nonGAAP financial measures") which are not measurements of financi ...

Ingredion Incorporated (NYSE:INGR) Q2 2022 Results Conference Call August 9, 2022 9:00 AM ET Company Participants Jason Payant - Head, IR Jim Zallie - CEO James Gray - CFO Conference Call Participants Adam Samuelson - Goldman Sachs Robert Moskow - Credit Suisse Ken Zaslow - BMO Seth Goldstein - Morningstar Ben Theurer - Barclays Ben Bienvenu - Stephens Operator Thank you for standing by, and welcome to the Ingredion Incorporated Second Quarter 2022 Earnings Conference Call. [Operator Instructions] As a remi ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-13397 Ingredion Incorporated (Exact name of registrant as specified in its charter) (708) 551-2600 (Registrant's ...

Financial Performance - Q1 2022 - Net sales increased by 17% to $1.892 billion, driven by strong price/mix management[9, 24, 25] - Adjusted operating income increased by 6% to $213 million[9, 24] - Adjusted diluted EPS increased to $1.95 per share, a $0.10 increase[24] Regional Performance - Q1 2022 - North America net sales increased by 24% to $1.2 billion, driven by strong price mix[12] - South America net sales decreased by 8% to $0.2 billion, but increased by 23% excluding Arcor JV impact[12] - Asia-Pacific net sales increased by 16% to $0.3 billion, or 21% excluding foreign currency impacts[12, 22] - EMEA net sales increased by 20% to $0.2 billion, or 28% excluding foreign currency impacts[12, 22] Strategic Growth Initiatives - Global Specialties net sales grew by 20%[14] - Plant-based protein sales increased by over 250%[14, 16] - Texturizing net sales grew by 13%[14] - Sugar reduction net sales grew by 28%[14] Full Year 2022 Outlook - The company anticipates adjusted EPS between $6.85 and $7.45[36] - Net sales are expected to be up low double-digits[36] - Adjusted operating income is expected to be up low double-digits[36]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-13397 Ingredion Incorporated (Exact name of registrant as specified in its charter) Delaware (State or other jur ...

Ingredion Incorporated (NYSE:INGR) Q1 2022 Earnings Conference Call May 5, 2022 11:00 AM ET Company Participants Jason Payant - Vice President of Corporate Finance and Interim Vice President of Investor Relations Jim Zallie - President and CEO James Gray - Executive Vice President and CFO Conference Call Participants Ben Theurer - Barclays Ben Bienvenu - Stephens Ken Zaslow - BMO Robert Moskow - Credit Suisse Adam Samuelson - Goldman Sachs Seth Goldstein - Morningstar Disclaimer*: This transcript is designe ...