INGR FY 2008 Earnings Report — Ingredion Incorporated Revenue & Financial Results | Market Cap Arena

Ingredion IncorporatedINGR

FY 2008 Earnings

Reported February 27, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2008	Prior Q	FY 2007	QoQ Change	YoY Change
Revenue	$3.9B	—	$3.4B	—	16.3%
Op. Income	$434M	—	$347M	—	25.1%
Gross Margin	17.9%	—	17.3%	—	0.6pp
Net Margin	6.8%	—	5.8%	—	0.9pp
EPS (Diluted)	$3.52	—	$2.59	—	35.9%
Free Cash Flow	-$298M	—	$81M	—	-467.9%

Revenue Flow

Item	Amount
REVENUE	$3.9B
Cost of Revenue	$3.2B
GROSS PROFIT	$705M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$275M
SG&A Expenses	$275M
Other Expenses	-$4M
Operating Expenses	$271M
Cost & Expenses	$3.5B
OPERATING INCOME	$434M
Interest Income	$5M
Interest Expense	$43M
Other Income/Expenses	-$29M
INCOME BEFORE TAX	$405M
Income Tax Expense	$130M
Net Income from Continuing Ops	$275M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$267M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$267M
D&A	$128M
EBIT	$448M
EBITDA	$576M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$3.9B
Cost of Revenue	$3.2B
GROSS PROFIT	$705M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$275M
SG&A Expenses	$275M
Other Expenses	-$4M
Operating Expenses	$271M
Cost & Expenses	$3.5B
OPERATING INCOME	$434M
Interest Income	$5M
Interest Expense	$43M
Other Income/Expenses	-$29M
INCOME BEFORE TAX	$405M
Income Tax Expense	$130M
Net Income from Continuing Ops	$275M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$267M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$267M
D&A	$128M
EBIT	$448M
EBITDA	$576M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$267M
Depreciation & Amortization	$128M
Stock-Based Compensation	$5M
Deferred Income Tax	$12M
Other Non-Cash Items	-$33M
Change in Working Capital	-$458M
OPERATING CASH FLOW	-$79M
Capital Expenditure	-$219M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$219M
Net Debt Issuance	$257M
Common Stock Repurchased	-$1M
Common Dividends Paid	-$38M
Other Financing Activities	$1M
NET CASH FROM FINANCING	$230M
FREE CASH FLOW	-$298M
Net Change in Cash	-$68M

Balance Sheet

Item	Amount
Cash & Equivalents	$107M
Short-Term Investments	$0
Net Receivables	$627M
Inventory	$454M
Other Current Assets	$99M
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$1.4B
Goodwill	$351M
Intangible Assets	$8M
Long-Term Investments	$7M
Tax Assets	$4M
Other Non-Current Assets	$93M
TOTAL NON-CURRENT ASSETS	$1.9B
TOTAL ASSETS	$3.2B
Account Payables	$528M
Short-Term Debt	$206M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$859M
Long-Term Debt	$660M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$105M
Other Non-Current Liabilities	$177M
TOTAL NON-CURRENT LIABILITIES	$942M
TOTAL LIABILITIES	$1.8B
Common Stock	$1M
Additional Paid-In Capital	$1.1B
Retained Earnings	$921M
Treasury Stock	-$29M
Accum. Other Comp. Income	-$595M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$22M
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$3.2B
Total Debt	$866M
Net Debt	$759M