Water, Soybean Oil, and Less than 2% of Micellar Casein (a Milk Derivative), Maltodextrin** Dipotassium Phosphate, Mono- and Diglycerides, DATEM, Carrageenan, Sucralose, Acesulfame Potassium (Non-Nutritive Sweetener), Natural and Artificial Flavor. ** Adds a Trivial Amount of Sugar.