Ingredion Inc (INGR)
Ingredion Incorporated, along with its affiliated entities, specializes in the global production and sale of starches and sweeteners, catering to a diverse range of industries. The company's operations are strategically organized into four geographical segments: North America, South America, Asia-Pacific, and Europe, the Middle East, and Africa. Its extensive product portfolio includes a variety of sweetener solutions such as glucose, high maltose, and high fructose corn syrups, as well as caramel colors, dextrose, polyols, maltodextrins, and glucose syrup solids. Beyond sweeteners, Ingredion also provides food-grade and industrial starches, biomaterials, and key nutrition ingredients. The company further offers specific corn-derived products like edible corn oil, and refined corn oil supplied to manufacturers of cooking oils, margarine, salad dressings, shortening, and mayonnaise. It also produces corn gluten feed, a protein source for poultry, pet food, and aquaculture. Additionally, Ingredion processes fruit and vegetable products, delivering concentrates, purees, essences, pulse proteins, and hydrocolloid systems and blends. These ingredients are predominantly extracted from corn, alongside other starch-rich raw materials such as tapioca, potatoes, and rice. Ingredion's primary clientele hails from the food, beverage, brewing, and animal nutrition sectors. Established in 1906, the firm was initially known as Corn Products International, Inc., before officially rebranding to Ingredion Incorporated in June 2012. Its corporate headquarters are situated in Westchester, Illinois.
Sector: Grain Mill Products
Industry: Packaged Foods
Ingredion Incorporated
NYSE:INGRConsumer Defensive · Packaged Foods
-1.52%$95.70
AH Close$95.70+0.00%vs close
AH Close$95.70+0.00%vs close
Mkt Cap$6.04B
Float62.11M
O/S63.06M
Inst Own98.5%
SI7.7%
Div Yield3.44%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$7.22B
Net Income$729M
Total Assets$7.9B
Free Cash Flow$511M
Debt & Equity
Debt 29%
Equity 71%
Total Debt$1.79B
Total Equity$4.34B
Shares Outstanding
Short Interest
Split History1 split
- 2:1Forward splitJan 26, 20051 share → 2
Balance Sheet Details
Assets$7.9B
Liabilities$3.53B
Accounts Receivable$1.02B
Accounts Payable$1.27B
Inventory$1.23B
PP&E (Net)$2.53B
Goodwill$0
Intangible Assets$1.27B
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1999 | FY 1998 | FY 1997 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 | 2002-12-31 | 2001-12-31 | 2000-12-31 | 1999-12-31 | 1998-12-31 | 1997-12-31 |
| Revenue | $7.22B | $7.43B | $8.16B | $7.95B | $6.89B | $5.99B | $6.21B | $6.29B | $6.18B | $6.02B | $5.96B | $6B | $6.65B | $6.87B | $6.22B | $4.37B | $3.67B | $3.94B | $3.39B | $2.62B | $2.36B | $2.28B | $2.1B | $1.87B | $1.89B | $1.86B | $1.74B | $1.45B | $1.42B |
| YoY Growth | -2.8% | -8.9% | 2.7% | 15.3% | 15.1% | -3.6% | -1.3% | 1.8% | 2.6% | 1.1% | -0.7% | -9.8% | -3.1% | 10.4% | 42.4% | 18.9% | -6.9% | 16.3% | 29.4% | 11.1% | 3.4% | 8.6% | 12.3% | -0.8% | 1.2% | 7.5% | 19.8% | 2.1% | - |
| Cost of Revenue | $5.39B | $5.64B | $6.41B | $6.45B | $5.56B | $4.71B | $4.9B | $4.92B | $4.77B | $4.68B | $4.72B | $4.88B | $5.52B | $5.63B | $5.42B | $3.91B | $3.15B | $3.24B | $2.81B | $2.21B | $2.03B | $1.93B | $1.78B | $1.6B | $1.59B | $1.56B | $1.45B | $1.18B | $1.18B |
| Gross Profit | $1.83B | $1.79B | $1.75B | $1.49B | $1.33B | $1.27B | $1.31B | $1.37B | $1.47B | $1.4B | $1.24B | $1.11B | $1.13B | $1.24B | $1.13B | $724M | $520M | $705M | $586M | $416M | $332M | $354M | $324M | $267M | $299M | $306M | $285M | $266M | $241M |
| Gross Margin | 25.3% | 24.1% | 21.4% | 18.8% | 19.3% | 21.2% | 21.1% | 21.8% | 23.8% | 23.3% | 20.8% | 18.6% | 17.0% | 18.0% | 18.1% | 16.6% | 14.2% | 17.9% | 17.3% | 15.9% | 14.1% | 15.5% | 15.4% | 14.3% | 15.8% | 16.4% | 16.4% | 18.4% | 17.0% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $579M | $555M | $525M | $534M | $556M | $543M | $370M | $247M | $275M | $249M | $202M | $158M | $158M | $149M | $134M | $148M | $135M | $134M | $101M | $90M |
| Other | $791M | $908M | $792M | $732M | $1.02B | $690M | $648M | $665M | $636M | $16M | $27M | $9M | -$16M | $14M | -$88M | $15M | $120M | -$4M | -$10M | -$10M | -$9M | $17M | $1M | -$20M | -$15M | $15M | -$6M | $95M | $103M |
| Total Operating Expenses | $791M | $908M | $792M | $732M | $1.02B | $690M | $648M | $665M | $636M | $595M | $582M | $534M | $518M | $570M | $455M | $385M | $367M | $271M | $239M | $192M | $149M | $175M | $150M | $114M | $133M | $150M | $128M | $196M | $193M |
| Operating Income (EBIT) | $1.04B | $883M | $957M | $762M | $310M | $582M | $664M | $703M | $836M | $806M | $660M | $581M | $613M | $668M | $671M | $339M | $153M | $434M | $347M | $224M | $183M | $179M | $174M | $153M | $166M | $156M | $157M | $70M | $48M |
| Operating Margin | 14.4% | 11.9% | 11.7% | 9.6% | 4.5% | 9.7% | 10.7% | 11.2% | 13.5% | 13.4% | 11.1% | 9.7% | 9.2% | 9.7% | 10.8% | 7.8% | 4.2% | 11.0% | 10.2% | 8.5% | 7.8% | 7.8% | 8.3% | 8.2% | 8.8% | 8.4% | 9.0% | 4.8% | 3.4% |
| Interest Expense | $37M | $39M | $114M | $99M | $74M | $81M | $88M | $81M | $79M | $73M | $69M | $73M | $74M | $77M | $77.4M | $64M | $37.6M | $43M | $47M | $31M | $28M | $59M | $50M | $28M | $73M | $87M | $28M | $2M | $139M |
| Interest Income | $0 | $0 | $0 | $0 | $0 | $0 | $7M | $9M | $11M | $10M | $14M | $13M | $11M | $10M | $5M | $6M | $1M | $5M | $9M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | -$63M | $48M | -$118M | -$94M | -$62M | -$76M | -$82M | -$82M | -$67M | -$64M | -$61M | -$61M | -$66M | -$67M | -$78M | -$64M | -$38M | -$29M | -$42M | -$27M | -$35M | -$34M | -$39M | -$48M | -$64M | -$54M | -$30M | -$2M | -$139M |
| Income Before Tax (EBT) | $974M | $931M | $839M | $668M | $248M | $506M | $582M | $621M | $769M | $741.8M | $598.6M | $520.1M | $546.8M | $600.6M | $593.4M | $275.5M | $115.2M | $404.8M | $305M | $197M | $148M | $145M | $135M | $105M | $102M | $84M | $122M | $68M | -$91M |
| Income Tax Expense | $238M | $277M | $188M | $166M | $123M | $152M | $158M | $167M | $237M | $245.7M | $186.9M | $156.8M | $144M | $167.3M | $170.6M | $99.4M | $68.5M | $129.6M | $102M | $69M | $56M | $43M | $49M | $42M | $36M | $36M | $45M | $25M | -$19M |
| Net Income | $729M | $647M | $643M | $492M | $117M | $348M | $413M | $443M | $519M | $484.9M | $402.2M | $354.9M | $395.7M | $427.5M | $415.7M | $169.2M | $41.1M | $267.2M | $198M | $124M | $90M | $94M | $76M | $63M | $57M | $48M | $77M | $43M | -$75M |
| Net Income Margin | 10.1% | 8.7% | 7.9% | 6.2% | 1.7% | 5.8% | 6.7% | 7.0% | 8.4% | 8.1% | 6.8% | 5.9% | 5.9% | 6.2% | 6.7% | 3.9% | 1.1% | 6.8% | 5.8% | 4.7% | 3.8% | 4.1% | 3.6% | 3.4% | 3.0% | 2.6% | 4.4% | 3.0% | -5.3% |
| Supplementary Data | |||||||||||||||||||||||||||||
| EPS | 11.36 | 9.88 | 9.74 | 7.43 | 1.74 | 5.18 | 6.17 | 6.25 | 7.21 | 6.70 | 5.62 | 4.82 | 5.14 | 5.59 | 5.44 | 2.24 | 0.55 | 3.59 | 2.65 | 1.67 | 1.20 | 1.28 | 1.06 | 0.89 | 0.80 | 0.68 | 0.99 | 0.60 | -1.05 |
| Diluted EPS | 11.18 | 9.71 | 9.60 | 7.34 | 1.73 | 5.15 | 6.13 | 6.17 | 7.06 | 6.55 | 5.51 | 4.74 | 5.05 | 5.47 | 5.32 | 2.20 | 0.54 | 3.52 | 2.59 | 1.63 | 1.19 | 1.25 | 1.06 | 0.89 | 0.80 | 0.68 | 0.99 | 0.60 | -1.05 |
| Weighted Average OS | 64.20M | 65.50M | 66.00M | 66.20M | 67.10M | 67.20M | 66.90M | 70.90M | 72.00M | 72.30M | 71.60M | 73.60M | 77.00M | 76.50M | 76.40M | 75.60M | 74.90M | 74.50M | 74.70M | 74.10M | 74.70M | 73.40M | 72.00M | 71.20M | 70.60M | 70.60M | 74.60M | 72.00M | 71.43M |
| EBITDA | $1.23B | $1.18B | $1.17B | $982M | $542M | $800M | $883M | $949M | $1.06B | $1.01B | $862M | $788M | $815M | $889M | $885M | $498M | $278M | $576M | $480M | $338M | $289M | $281M | $275M | $256M | $293M | $291M | $279M | $165M | $151M |
| EBITDA Margin | 17.1% | 15.9% | 14.4% | 12.4% | 7.9% | 13.4% | 14.2% | 15.1% | 17.1% | 16.8% | 14.5% | 13.1% | 12.2% | 12.9% | 14.2% | 11.4% | 7.6% | 14.6% | 14.2% | 12.9% | 12.2% | 12.3% | 13.1% | 13.7% | 15.5% | 15.6% | 16.1% | 11.4% | 10.6% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1999 | FY 1998 | FY 1997 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 | 2002-12-31 | 2001-12-31 | 2000-12-31 | 1999-12-31 | 1998-12-31 | 1997-12-31 |
| Assets | |||||||||||||||||||||||||||||
| Current Assets | |||||||||||||||||||||||||||||
| Cash and Cash Equivalents | $1.03B | $997M | $401M | $236M | $328M | $665M | $264M | $327M | $595M | $512M | $434M | $580M | $574M | $609M | $401M | $302M | $175M | $107M | $175M | $131M | $116M | $101M | $70M | $36M | $65M | $41M | $41M | $36M | $85M |
| Short-Term Investments | $3M | $11M | $8M | $3M | $4M | $0 | $4M | $7M | $9M | $4M | $6M | $34M | $0 | $19M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $1.03B | $1.01B | $409M | $239M | $332M | $665M | $268M | $334M | $604M | $516M | $440M | $614M | $574M | $628M | $401M | $302M | $175M | $107M | $175M | $131M | $116M | $101M | $70M | $36M | $65M | $41M | $41M | $36M | $85M |
| Accounts Receivable | $1.02B | $1.09B | $1.28B | $1.41B | $1.13B | $1.01B | $977M | $951M | $961M | $923M | $775M | $762M | $832M | $814M | $837M | $735M | $440M | $627M | $460M | $357M | $287M | $291M | $252M | $244M | $279M | $274M | $261M | $224M | $175M |
| Inventory | $1.23B | $1.19B | $1.45B | $1.6B | $1.17B | $917M | $861M | $824M | $823M | $789M | $715M | $699M | $723M | $834M | $769M | $678M | $394M | $454M | $427M | $321M | $258M | $258M | $215M | $194M | $201M | $232M | $212M | $175M | $123M |
| Other Current Assets | $164M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $48M | $68M | $65M | $71M | $18M | $23M | $99M | $13M | $16M | $13M | $0 | $0 | $0 | $0 | $0 | $23M | $30M | $40M |
| Total Current Assets | $3.5B | $3.35B | $3.4B | $3.31B | $2.7B | $2.65B | $2.16B | $2.14B | $2.42B | $2.25B | $1.95B | $2.14B | $2.21B | $2.36B | $2.1B | $1.75B | $1.04B | $1.3B | $1.09B | $837M | $685M | $661M | $547M | $485M | $555M | $555M | $537M | $465M | $423M |
| Long-Term Assets | |||||||||||||||||||||||||||||
| Property, Plant & Equipment Net | $2.53B | $2.26B | $2.37B | $2.41B | $2.42B | $2.46B | $2.46B | $2.2B | $2.22B | $2.12B | $1.99B | $2.07B | $2.16B | $2.19B | $2.16B | $2.12B | $1.56B | $1.45B | $1.5B | $1.36B | $1.27B | $1.21B | $1.19B | $1.15B | $1.29B | $1.41B | $1.35B | $1.3B | $1.06B |
| Goodwill | $0 | $906M | $918M | $900M | $914M | $902M | $801M | $791M | $803M | $784M | $601M | $478M | $535M | $557M | $562M | $635M | $238M | $351M | $426M | $381M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $1.27B | $358M | $385M | $401M | $434M | $444M | $437M | $460M | $493M | $502M | $410M | $290M | $311M | $329M | $347M | $364M | $7M | $8M | $0 | $0 | $359M | $353M | $319M | $280M | $283M | $313M | $270M | $129M | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $5M | $11M | $10M | $10M | $12M | $10M | $7M | $13M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $23M | $13M | $10M | $9M | $7M | $7M | $4M | $15M | $21M | $19M | $71M | $3M | $4M | $1M | $1M | $3M | $42M | $61M | $59M | $20M | $2M | $0 | $0 | $0 |
| Other Long-Term Assets | $597M | $561M | $570M | $544M | $531M | $387M | $172M | $131M | $143M | $121M | $117M | $91M | $118M | $122M | $121M | $113M | $85M | $93M | $74M | $70M | $68M | $77M | $96M | $90M | $76M | $62M | $73M | $54M | $186M |
| Total Long-Term Assets | $4.39B | $4.09B | $4.24B | $4.25B | $4.3B | $4.21B | $3.88B | $3.59B | $3.67B | $3.53B | $3.12B | $2.95B | $3.15B | $3.23B | $3.21B | $3.32B | $1.91B | $1.91B | $2.01B | $1.82B | $1.7B | $1.71B | $1.66B | $1.53B | $1.67B | $1.78B | $1.68B | $1.48B | $1.24B |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $7.9B | $7.44B | $7.64B | $7.56B | $7B | $6.86B | $6.04B | $5.73B | $6.08B | $5.78B | $5.07B | $5.09B | $5.36B | $5.59B | $5.32B | $5.07B | $2.95B | $3.21B | $3.1B | $2.66B | $2.39B | $2.37B | $2.21B | $2.02B | $2.23B | $2.34B | $2.21B | $1.95B | $1.67B |
| Liabilities | |||||||||||||||||||||||||||||
| Current Liabilities | |||||||||||||||||||||||||||||
| Accounts Payable | $1.27B | $604M | $778M | $873M | $774M | $599M | $504M | $452M | $493M | $440M | $423M | $430M | $458M | $590M | $529M | $535M | $319M | $528M | $382M | $429M | $263M | $374M | $200M | $164M | $143M | $136M | $109M | $96M | $90M |
| Short-Term Debt | $48M | $44M | $448M | $543M | $308M | $438M | $82M | $169M | $120M | $106M | $19M | $23M | $93M | $76M | $148M | $88M | $136M | $206M | $130M | $74M | $57M | $88M | $98M | $84M | $444M | $267M | $222M | $250M | $337M |
| Current Income Tax Payable | $0 | $156M | $97M | $45M | $44M | $44M | $52M | $60M | $59M | $148M | $81M | $72M | $46M | $58M | $67M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $0 | $124M | $172M | $112M | $105M | $96M | $93M | $81M | $101M | $107M | $84M | $74M | $75M | $92M | $85M | $12M | $9M | $0 | $28M | -$104M | $1M | -$113M | $0 | $0 | $0 | $0 | $90M | $59M | $69M |
| Total Current Liabilities | $1.32B | $1.28B | $1.77B | $1.88B | $1.51B | $1.46B | $967M | $946M | $957M | $978M | $742M | $721M | $820M | $933M | $926M | $891M | $565M | $859M | $674M | $517M | $424M | $462M | $394M | $347M | $675M | $486M | $421M | $405M | $496M |
| Long-Term Liabilities | |||||||||||||||||||||||||||||
| Long-Term Debt | $1.74B | $1.79B | $1.74B | $1.94B | $1.74B | $1.75B | $1.76B | $1.93B | $1.74B | $1.85B | $1.81B | $1.78B | $1.7B | $1.7B | $1.78B | $1.68B | $408M | $660M | $519M | $480M | $471M | $480M | $452M | $516M | $312M | $453M | $322M | $154M | $13M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $136M | $116M | $145M | $165M | $217M | $195M | $189M | $199M | $171M | $135M | $180M | $207M | $160M | $199M | $249M | $111M | $105M | $133M | $121M | $128M | $177M | $210M | $163M | $186M | $185M | $180M | $180M | $128M |
| Other Long-Term Liabilities | $473M | $205M | $207M | $186M | $205M | $227M | $221M | $253M | $264M | $191M | $201M | $192M | $200M | $336M | $277M | $248M | $164M | $177M | $151M | $178M | $139M | $149M | $185M | $153M | $50M | $47M | $63M | $63M | $37M |
| Total Long-Term Liabilities | $2.21B | $2.27B | $2.22B | $2.42B | $2.26B | $2.33B | $2.3B | $2.37B | $2.21B | $2.21B | $2.15B | $2.16B | $2.11B | $2.2B | $2.26B | $2.18B | $683M | $942M | $803M | $779M | $738M | $806M | $833M | $858M | $548M | $685M | $567M | $397M | $178M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $3.53B | $3.55B | $3.99B | $4.3B | $3.77B | $3.79B | $3.27B | $3.32B | $3.16B | $3.19B | $2.89B | $2.88B | $2.93B | $3.13B | $3.18B | $3.07B | $1.25B | $1.8B | $1.48B | $1.3B | $1.16B | $1.27B | $1.23B | $1.21B | $1.22B | $1.17B | $988M | $802M | $674M |
| Stockholders' Equity | |||||||||||||||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $0 | $0 |
| Retained Earnings | $5.61B | $5.09B | $4.65B | $4.21B | $3.9B | $3.96B | $3.78B | $3.54B | $3.26B | $2.9B | $2.55B | $2.27B | $2.04B | $1.77B | $1.41B | $1.05B | $919M | $921M | $694M | $528M | $429M | $360M | $285M | $224M | $175M | $132M | $101M | $37M | $0 |
| Comprehensive Income & Other | -$937M | -$1.09B | -$1.06B | -$1.05B | -$897M | -$1.13B | -$1.16B | -$1.15B | -$1.01B | -$1.07B | -$1.1B | -$782M | -$583M | -$475M | -$413M | -$190M | -$308M | -$595M | -$115M | -$223M | -$252M | -$323M | -$346M | -$422M | -$336M | -$186M | -$122M | -$1.35B | -$1.14B |
| Other Stockholders' Equity | -$1.27B | -$1.23B | -$1.06B | -$1.02B | -$764M | -$977M | -$1.03B | -$1.15B | -$369M | -$335M | -$409M | -$99M | $358M | $667M | $691M | $929M | $761M | $462M | $910M | $801M | $780M | $720M | $625M | $545M | $681M | $827M | $928M | $1.02B | $986M |
| Total Equity | $4.34B | $3.86B | $3.59B | $3.19B | $3.14B | $2.98B | $2.75B | $2.39B | $2.89B | $2.56B | $2.14B | $2.18B | $2.4B | $2.44B | $2.1B | $1.98B | $1.68B | $1.38B | $1.6B | $1.33B | $1.21B | $1.08B | $911M | $770M | $857M | $960M | $1.03B | $1.05B | $986M |
| Minority Interest | $28M | $26M | $57M | $67M | $89M | $91M | $21M | $20M | $26M | $30M | $36M | $30M | $25M | $22M | $29M | $26M | $23M | $22M | $21M | $19M | $17M | $18M | $78M | $93M | $147M | $208M | $199M | $91M | $6M |
| Total Liabilities and Equity | $7.87B | $7.42B | $7.58B | $7.49B | $6.91B | $6.77B | $6.02B | $5.71B | $6.05B | $5.75B | $5.04B | $5.05B | $5.33B | $5.57B | $5.29B | $5.04B | $2.93B | $3.19B | $3.08B | $2.63B | $2.37B | $2.35B | $2.14B | $1.98B | $2.08B | $2.13B | $2.02B | $1.85B | $1.66B |
| Supplementary Data | |||||||||||||||||||||||||||||
| Total Debt | $1.79B | $2.04B | $2.4B | $2.68B | $2.25B | $2.37B | $2.01B | $2.1B | $1.86B | $1.95B | $1.83B | $1.81B | $1.8B | $1.78B | $1.93B | $1.77B | $544M | $866M | $649M | $554M | $528M | $568M | $550M | $600M | $756M | $720M | $544M | $404M | $350M |
| Net Debt | $760M | $1.04B | $2B | $2.44B | $1.92B | $1.7B | $1.74B | $1.77B | $1.27B | $1.44B | $1.4B | $1.23B | $1.22B | $1.17B | $1.53B | $1.47B | $369M | $759M | $474M | $423M | $412M | $467M | $480M | $564M | $691M | $679M | $503M | $368M | $265M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 | FY 2002 | FY 2001 | FY 2000 | FY 1999 | FY 1998 | FY 1997 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 | 2002-12-31 | 2001-12-31 | 2000-12-31 | 1999-12-31 | 1998-12-31 | 1997-12-31 |
| Operating Activities | |||||||||||||||||||||||||||||
| Net Income | $729M | $647M | $643M | $502M | $117M | $348M | $413M | $454M | $532M | $496M | $412M | $363M | $403M | $433M | $423M | $176M | $47M | $267M | $198M | $124M | $90M | $94M | $76M | $63M | $57M | $48M | $77M | $43M | -$72M |
| Depreciation & Amortization | $222M | $214M | $219M | $215M | $220M | $213M | $220M | $247M | $209M | $196M | $194M | $195M | $194M | $211M | $211M | $155M | $130M | $128M | $125M | $114M | $106M | $102M | $101M | $103M | $127M | $135M | $122M | $95M | $103M |
| Deferred Income Tax | $6M | -$15M | -$6M | -$3M | $0 | $0 | $0 | -$23M | $67M | -$5M | -$6M | -$11M | $30M | -$3M | $18M | -$30M | -$5M | $12M | $7M | -$6M | -$16M | -$9M | $4M | -$6M | $2M | $15M | $7M | $10M | $10M |
| Stock-Based Compensation | $0 | $46M | $20M | $29M | $23M | $23M | $18M | $21M | $26M | $28M | $21M | $19M | $17M | $18M | $0 | $6M | $5M | $5M | $0 | $0 | $0 | $0 | $0 | $0 | $9M | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | |||||||||||||||||||||||||||||
| Accounts Receivable | -$51M | $148M | $77M | -$310M | -$162M | -$3M | -$61M | -$70M | -$44M | -$131M | -$29M | -$15M | -$69M | $22M | -$134M | -$45M | -$3M | -$43M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $3M | $228M | $69M | -$468M | -$312M | -$14M | -$43M | -$50M | -$34M | -$19M | $9M | -$6M | $76M | -$69M | -$149M | -$51M | $82M | -$91M | -$86M | -$57M | $5M | -$34M | -$11M | -$6M | $20M | -$12M | -$28M | -$32M | $34M |
| Accounts Payable | -$27M | $20M | -$79M | $158M | $0 | $0 | $0 | -$3M | -$49M | $150M | $20M | $21M | -$7M | $47M | $283M | $96M | -$79M | -$29M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | -$65M | $74M | -$5M | -$44M | -$32M | $43M | -$1M | $5M | $6M | -$8M | -$24M | $84M | -$57M | $33M | -$304M | $45M | $257M | -$295M | $27M | $28M | $55M | -$14M | $57M | $59M | -$38M | $8M | $20M | -$26M | $20M |
| Total Working Capital Change | -$140M | $470M | $62M | -$664M | -$506M | $26M | -$105M | -$118M | -$121M | -$8M | -$24M | $84M | -$57M | $33M | -$304M | $45M | $257M | -$458M | -$59M | -$29M | $60M | -$48M | $46M | $53M | -$18M | -$4M | -$8M | -$58M | $54M |
| Other Non-Cash Items | $127M | $74M | $119M | $73M | $538M | $219M | $134M | $142M | $73M | $87M | $104M | $56M | $79M | $31M | $12M | $42M | $152M | -$33M | $1M | $4M | $5M | $27M | $9M | -$7M | $3M | $18M | $0 | $0 | $120M |
| Net Cash from Operating | $944M | $1.44B | $1.06B | $152M | $392M | $829M | $680M | $703M | $769M | $771M | $686M | $731M | $619M | $732M | $300M | $394M | $586M | -$79M | $258M | $230M | $245M | $166M | $236M | $206M | $171M | $212M | $198M | $90M | $215M |
| Investing Activities | |||||||||||||||||||||||||||||
| Capital Expenditures | -$433M | -$301M | -$316M | -$300M | -$300M | -$340M | -$328M | -$349M | -$306M | -$283M | -$277M | -$271M | -$295M | -$304M | -$260M | -$156M | -$141M | -$219M | -$177M | -$171M | -$143M | -$104M | -$83M | -$78M | -$94M | -$143M | -$280M | -$122M | -$116M |
| Acquisitions | $12M | $0 | $0 | -$29M | -$40M | -$236M | -$42M | -$15M | -$17M | -$409M | -$434M | -$5M | $0 | $0 | -$15M | -$1.27B | -$4M | $0 | -$59M | -$42M | -$5M | -$68M | -$48M | -$42M | -$79M | -$120M | $0 | $0 | $0 |
| Purchases of Investments | -$20M | $0 | $0 | $0 | $0 | $0 | $0 | $1M | -$3M | -$1M | -$3M | -$34M | $0 | -$18M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1M | -$8M | $1M | $27M | $11M | $19M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $21M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$3M | $254M | -$13M | $9M | $5M | $5M | -$4M | $1M | $8M | $3M | $38M | $5M | $2M | -$9M | $2M | $0 | -$4M | $0 | $4M | $3M | $7M | $1M | $1M | $47M | $2M | $1M | $9M | $62M | -$17M |
| Net Cash from Investing | -$444M | -$47M | -$329M | -$320M | -$335M | -$571M | -$374M | -$361M | -$326M | -$689M | -$649M | -$294M | -$274M | -$322M | -$273M | -$1.43B | -$145M | -$219M | -$232M | -$210M | -$141M | -$149M | -$130M | -$73M | -$171M | -$262M | -$271M | -$60M | -$133M |
| Financing Activities | |||||||||||||||||||||||||||||
| Debt Repaid | $449M | $18M | $229M | -$293M | $390M | -$326M | $256M | -$249M | $1.24B | -$126M | -$22M | -$18M | $32M | $155M | -$160M | -$1.21B | $332M | -$257M | -$83M | -$16M | $44M | -$6M | $58M | $144M | -$46M | -$132M | -$100M | $96M | - |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1M | $9M | $29M | $21M | $20M | $14M | $34M | $18M | $22M | $4M | $11M | $16M | $21M | $0 | $30M | $5M | $4M | $4M | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | -$224M | -$216M | -$101M | -$112M | -$68M | $0 | $0 | -$657M | -$123M | -$8M | -$41M | -$304M | -$228M | -$18M | -$48M | -$5M | -$3M | -$1M | -$55M | -$23M | -$25M | $0 | $0 | $0 | $0 | -$44M | -$19M | -$1M | $0 |
| Dividends Paid | -$211M | -$210M | -$194M | -$181M | -$184M | -$170M | -$174M | -$182M | -$165M | -$141M | -$126M | -$128M | -$112M | -$69M | -$50M | -$45M | -$42M | -$38M | -$29M | -$26M | -$22M | -$23M | -$20M | -$19M | -$23M | -$14M | -$13M | -$3M | $0 |
| Other Financing Activities | -$12M | $6M | $18M | -$37M | $269M | -$13M | $66M | $1M | $9M | -$6M | $8M | $6M | $5M | $6M | $6M | -$32M | -$2M | $1M | $0 | $6M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $21M | -$29M |
| Net Cash from Financing | -$491M | -$765M | -$569M | $103M | -$373M | $143M | -$364M | -$589M | -$375M | $0 | -$116M | -$388M | -$353M | -$197M | $86M | $1.16B | -$375M | $230M | $15M | -$6M | -$91M | $13M | -$73M | -$159M | $27M | $50M | $75M | -$79M | -$29M |
| Forex Effect | $24M | -$28M | $6M | -$27M | -$21M | $0 | -$5M | -$21M | $15M | -$4M | -$67M | -$43M | -$27M | -$5M | -$14M | $6M | $2M | $0 | $3M | $1M | $2M | $1M | $1M | -$3M | -$3M | $0 | $3M | $0 | $0 |
| Net Change in Cash | $33M | $596M | $165M | -$92M | -$337M | $401M | -$63M | -$268M | $83M | $78M | -$146M | $6M | -$35M | $208M | $99M | $127M | $68M | -$68M | $44M | $15M | $15M | $31M | $34M | -$29M | $24M | $0 | $5M | -$49M | $53M |
| Supplementary Data | |||||||||||||||||||||||||||||
| Operating Cash Flow | $944M | $1.44B | $1.06B | $152M | $392M | $829M | $680M | $703M | $769M | $771M | $686M | $731M | $619M | $732M | $300M | $394M | $586M | -$79M | $258M | $230M | $245M | $166M | $236M | $206M | $171M | $212M | $198M | $90M | $215M |
| Capital Expenditure | -$433M | -$301M | -$316M | -$300M | -$300M | -$340M | -$328M | -$349M | -$306M | -$283M | -$277M | -$271M | -$295M | -$304M | -$260M | -$156M | -$141M | -$219M | -$177M | -$171M | -$143M | -$104M | -$83M | -$78M | -$94M | -$143M | -$280M | -$122M | -$116M |
| Free Cash Flow | $511M | $1.14B | $741M | -$148M | $92M | $489M | $352M | $354M | $463M | $488M | $409M | $460M | $324M | $428M | $40M | $238M | $445M | -$298M | $81M | $59M | $102M | $62M | $153M | $128M | $77M | $69M | -$82M | -$32M | $99M |
| Cash at Beginning | $997M | $401M | $236M | $328M | $665M | $264M | $327M | $595M | $512M | $434M | $580M | $574M | $609M | $401M | $302M | $175M | $107M | $175M | $131M | $116M | $101M | $70M | $36M | $65M | $41M | $41M | $36M | $85M | $32M |
| Cash at End | $1.03B | $997M | $401M | $236M | $328M | $665M | $264M | $327M | $595M | $512M | $434M | $580M | $574M | $609M | $401M | $302M | $175M | $107M | $175M | $131M | $116M | $101M | $70M | $36M | $65M | $41M | $41M | $36M | $85M |