v3.26.1
Segment Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
We are principally engaged in the production and sale of starches and sweeteners for a wide range of industries. Our Texture & Healthful Solutions (“T&HS”) segment has a global focus and primarily manufactures texturizing food ingredients. Our Food & Industrial Ingredients–Latin America (“F&II–LATAM”) segment has a local focus and primarily manufactures food, ingredient, and industrial products, which we process from raw materials that we primarily source within South America and Mexico. Our Food & Industrial Ingredients–United States/Canada (“F&II–U.S./Canada”) segment has a local focus and primarily manufactures food, ingredient, and industrial products, which we process from raw materials sourced within the U.S. and Canada. All Other consists of the businesses of multiple operating segments that are
not individually or collectively classified as reportable segments. Net sales from All Other are generated primarily by sweetener and starch sales by our Pakistan business, sales of stevia and other ingredients from our PureCircle and Sugar Reduction businesses, and pea protein ingredients from our Protein Fortification business. Net sales by product are not presented because such presentation is not practicable.
Adjusted operating income presented by segment includes an arms-length profit margin for sales of manufactured products sold to other segments. We include specified and certain corporate costs in our reportable segments and All Other because the Chief Operating Decision Maker (“CODM”) evaluates each segment’s performance inclusive of these costs.
Net sales to affiliated and unaffiliated customers by reportable segment and All Other was as follows:
Three Months Ended March 31, 2026
T&HSF&II–LATAMF&II–U.S./CanadaAll OtherCorporateTotal
Segment net sales$626 $589 $502 $125 $— 
Inter-segment net sales(9)(10)(27)(4)— 
Net sales to unaffiliated customers$617 $579 $475 $121 $— $1,792 
Segment cost of sales$437 $433 $418 $103 $— 
Other operating expenses80 31 23 15 40 
Adjusted operating income (loss)$100 $115 $34 $3 $(40)$212 
Unallocated (costs) (i)
(9)
Operating income$203 
Three Months Ended March 31, 2025
T&HSF&II–LATAMF&II–U.S./CanadaAll OtherCorporateTotal
Segment net sales$611 $586 $553 $121 $— 
Inter-segment net sales(9)(13)(33)(3)— 
Net sales to unaffiliated customers$602 $573 $520 $118 $— $1,813 
Segment cost of sales$426 $420 $405 $101 $— 
Other operating expenses77 26 23 17 45 
Adjusted operating income (loss)$99 $127 $92 $— $(45)$273 
Unallocated income (i)
3 
Operating income$276 
Three Months Ended March 31,
(i) Unallocated (costs) income:
20262025
Restructuring costs$(11)$(1)
Other matters2 10 
Impairment charges— (6)
Total unallocated (costs) income$(9)$3 
The CODM evaluates performance, makes strategic decisions, and allocates resources based on Property, plant and equipment, net for internal and external reporting purposes. Property, plant and equipment, net by reportable segment and All Other was as follows:
As of
March 31, 2026		As of
December 31, 2025
Texture & Healthful Solutions$984 $979 
Food & Industrial Ingredients–LATAM
605 592 
Food & Industrial Ingredients–U.S./Canada
625 612 
All Other (i)
347 343 
Total property, plant and equipment, net$2,561 $2,526 
_____________________
(i)For purposes of presentation, All Other includes Corporate assets.