Ingredion (INGR) FY2012 results: revenue $6.9 billion, up 5.0% on the year
Ingredion Inc. (INGR) reported revenue of $6.9 billion for fiscal 2012, the year ended 31 December 2012, up 5.0% on the year before. Net income was $428 million, up 2.9%, and diluted earnings per share $5.47. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2013.
Revenue
$6.9 billion
+5.0% on the year
FY2008FY2012
Operating margin
9.7%
10.3% a year earlier
FY2008FY2012
Net income
$428 million
+2.9% on the year
FY2008FY2012
Diluted EPS
$5.47
+2.8% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
6,868
6,544
4,367
+5.0%
Cost of revenue
5,294
5,093
3,643
+3.9%
Gross profit
1,238
1,126
724
+9.9%
Gross margin
18.0%
17.2%
16.6%
Selling, general and administrative
556
543
370
+2.4%
Operating income
668
671
339
-0.4%
Operating margin
9.7%
10.3%
7.8%
Pre-tax income
601
593
275
+1.3%
Income tax
167
170
99.0
-1.8%
Effective tax rate
27.8%
28.7%
36.0%
Net income
428
416
169
+2.9%
Net margin
6.2%
6.4%
3.9%
Diluted EPS
$5.47
$5.32
$2.20
+2.8%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
732
300
394
+144.0%
Capital expenditure
313
263
159
+19.0%
Free cash flow
419
37.0
235
+1,032.4%
Free cash flow margin
6.1%
0.6%
5.4%
Cash from investing
n/a
n/a
-1,428
Cash from financing
n/a
n/a
1,155
Depreciation and amortisation
211
211
155
0.0%
Share-based compensation
18.0
11.0
8.0
+63.6%
Buybacks
18.0
48.0
5.0
-62.5%
Dividends paid
69.0
50.0
45.0
+38.0%
Diluted shares, weighted
78m
78m
77m
0.0%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
2,437
2,104
1,976
+15.8%
Non-controlling interest
22.0
29.0
26.0
-24.1%
Short-term borrowings
76.0
148
88.0
-48.6%
Debt
1,724
1,801
1,681
-4.3%
Other liabilities
1,333
1,235
1,269
+7.9%
Total liabilities and equity
5,592
5,317
5,040
+5.2%
Fixed assets
2,193
2,156
2,156
+1.7%
Goodwill
557
562
572
-0.9%
Intangible assets
329
347
364
-5.2%
Investments
10.0
10.0
12.0
0.0%
Cash and equivalents
609
401
302
+51.9%
Receivables
814
837
763
-2.7%
Inventory
834
769
645
+8.5%
Other assets
246
235
226
+4.7%
Total assets
5,592
5,317
5,040
+5.2%
10-K for the year ended 31 December 2012, filed 28 February 2013: the filing.