v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 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 the Pakistan business, which is included in the below results through June 30, 2026, when we sold the majority ownership, 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.
The following tables present information about our Net sales, significant segment costs and adjusted operating income by reportable segment and All Other:
Three Months Ended June 30, 2026
T&HSF&II–LATAMF&II–U.S./CanadaAll OtherCorporateTotal
Segment net sales$662 $622 $536 $132 $— 
Inter-segment net sales(35)(11)(48)(8)— 
Net sales to unaffiliated customers$627 $611 $488 $124 $— $1,850 
Segment cost of sales$434 $462 $408 $99 $— 
Other operating expenses76 31 22 19 41 
Adjusted operating income (loss)$117 $118 $58 $6 $(41)$258 
Unallocated (costs) (i)
(70)
Operating income$188 
Three Months Ended June 30, 2025
T&HSF&II–LATAMF&II–U.S./CanadaAll OtherCorporateTotal
Segment net sales$608 $610 $550 $119 $— 
Inter-segment net sales(9)(14)(27)(4)— 
Net sales to unaffiliated customers$599 $596 $523 $115 $— $1,833 
Segment cost of sales$407 $434 $417 $98 $— 
Other operating expenses81 35 20 18 50 
Adjusted operating income (loss)$111 $127 $86 $(1)$(50)$273 
Unallocated (costs) (i)
(2)
Operating income$271 
Six Months Ended June 30, 2026
T&HSF&II–LATAMF&II–U.S./CanadaAll OtherCorporateTotal
Segment net sales$1,288 $1,211 $1,038 $257 $— 
Inter-segment net sales(44)(21)(75)(12)— 
Net sales to unaffiliated customers$1,244 $1,190 $963 $245 $— $3,642 
Segment cost of sales$871 $895 $826 $202 $— 
Other operating expenses156 62 45 34 81 
Adjusted operating income (loss)$217 $233 $92 $9 $(81)$470 
Unallocated (costs) (i)
(79)
Operating income$391 
Six Months Ended June 30, 2025
T&HSF&II–LATAMF&II–U.S./CanadaAll OtherCorporateTotal
Segment net sales$1,219 $1,196 $1,103 $240 $— 
Inter-segment net sales(18)(27)(60)(7)— 
Net sales to unaffiliated customers$1,201 $1,169 $1,043 $233 $— $3,646 
Segment cost of sales$833 $854 $822 $199 $— 
Other operating expenses158 61 43 35 95 
Adjusted operating income (loss)$210 $254 $178 $(1)$(95)$546 
Unallocated income (i)
1 
Operating income$547 
Three Months Ended June 30,Six Months Ended June 30,
(i) Unallocated (costs) income:
2026202520262025
Acquisition/integration costs$(6)$— $(6)$— 
Impairment charges(31)— (31)(6)
Restructuring costs(14)(3)(25)(4)
Other matters(19)1 (17)11 
Total unallocated (costs) income$(70)$(2)$(79)$1 
Property, plant and equipment, net by reportable segment and All Other was as follows:
As of
June 30, 2026		As of
December 31, 2025
Texture & Healthful Solutions$994 $979 
Food & Industrial Ingredients–LATAM
583 592 
Food & Industrial Ingredients–U.S./Canada
644 612 
All Other (i)
300 343 
Total property, plant and equipment, net$2,521 $2,526 
_____________________
(i)For purposes of presentation, All Other includes Corporate assets.