Archer-Daniels-Midland (ADM) 10-Q 27 Jul 21 2021 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2021	Jul. 26, 2021
Class of Stock [Line Items]
Entity Central Index Key	0000007084
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	1-44
Entity Registrant Name	ARCHER-DANIELS-MIDLAND CO
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	41-0129150
Entity Address, Address Line One	77 West Wacker Drive, Suite 4600
Entity Address, City or Town	Chicago,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60601
City Area Code	312
Local Phone Number	634-8100
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		559,366,478
Debt Securities [Member]
Class of Stock [Line Items]
Title of 12(b) Security	1.000% Notes due 2025
Security Exchange Name	NYSE
No Trading Symbol Flag	true
Common Stock [Member]
Class of Stock [Line Items]
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	ADM
Security Exchange Name	NYSE

Consolidated Statements Of Earn

Consolidated Statements Of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Revenues	$ 22,926	$ 16,281	$ 41,819	$ 31,251
Cost of Products Sold	21,463	15,173	38,808	29,192
Gross Profit	1,463	1,108	3,011	2,059
Selling, general, and administrative expenses	739	638	1,488	1,302
Asset impairment, exit, and restructuring costs	23	16	82	57
Interest Expense	40	87	127	170
Equity in (earnings) losses of unconsolidated affiliates	(163)	(103)	(288)	(243)
Investment Income	(50)	(26)	(63)	(74)
Other (Income) Expense - Net	49	(56)	16	(80)
Earnings Before Income Taxes	825	552	1,649	927
Income taxes	113	80	244	64
Net earnings including noncontrolling interests	712	472	1,405	863
Net Income (Loss) Attributable to Noncontrolling Interest	0	3	4	3
Net Earnings Attributable to Controlling Interests	$ 712	$ 469	$ 1,401	$ 860
Average number of shares outstanding - basic	564	561	563	562
Average number of shares outstanding - diluted	566	562	565	563
Earnings Per Share, Basic	$ 1.26	$ 0.84	$ 2.49	$ 1.53
Earnings Per Share, Diluted	1.26	0.84	2.48	1.53
Dividends per common share	$ 0.37	$ 0.36	$ 0.74	$ 0.72

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net earnings including noncontrolling interests	$ 712	$ 472	$ 1,405	$ 863
Other Comprehensive Income (Loss), before Tax
Foreign currency translation adjustment, before tax	35	(34)	329	(275)
Pension and other postretirement benefit liabilities adjustment, before tax	71	1	89	5
Deferred gain (loss) on hedging activities, before tax	82	81	183	(1)
Unrealized gain (loss) on investments, before tax	(1)	(3)	(2)	3
Other Comprehensive Income (Loss), Tax
Foreign currency translation adjustment, tax effect	8	28	(48)	(14)
Pension and other postretirement benefit liabilities adjustment, tax effect	(22)	0	(27)	(12)
Deferred gain (loss) on hedging activities, tax effect	(15)	(15)	(40)	(1)
Unrealized gain (loss) on investments, tax effect	(1)	1	(1)	(1)
Other Comprehensive Income (Loss), Net of Tax
Foreign currency translation adjustment, net of tax	43	(6)	281	(289)
Pension and other postretirement benefit liabilities adjustment, net of tax	49	1	62	(7)
Deferred gain (loss) on hedging activities, net of tax	67	66	143	(2)
Unrealized gain (loss) on investments, net of tax	(2)	(2)	(3)	2
Other comprehensive income (loss)	157	59	483	(296)
Comprehensive income (loss) including noncontrolling interests	869	531	1,888	567
Less: Comprehensive income (loss) attributable to noncontrolling interests	0	3	4	7
Comprehensive income (loss) attributable to controlling interests	$ 869	$ 528	$ 1,884	$ 560

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Current Assets
Cash and cash equivalents	$ 869	$ 666
Segregated cash and investments	7,114	5,890
Trade receivables	3,478	2,793
Inventories	11,446	11,713
Other current assets	5,597	6,224
Total Current Assets	28,504	27,286
Investments and Other Assets
Investments in and advances to affiliates	5,113	4,913
Goodwill and other intangible assets	5,266	5,413
Operating Lease, Right-of-Use Asset	1,043	1,102
Other assets	1,159	1,054
Total Investments and Other Assets	12,581	12,482
Property, Plant, and Equipment
Land and Land Improvements	534	545
Buildings	5,563	5,522
Machinery and equipment	19,359	19,154
Construction in progress	1,091	1,118
Gross Property, Plant, and Equipment	26,547	26,339
Accumulated depreciation	(16,674)	(16,388)
Net Property, Plant, and Equipment	9,873	9,951
Total Assets	50,958	49,719
Current Liabilities
Short-term debt	1,289	2,042
Trade payables	3,441	4,474
Payables to Brokerage Customers	7,819	6,460
Accrued expenses and other payables	4,479	4,943
Operating Lease, Liability, Current	268	261
Current maturities of long-term debt	0	2
Total Current Liabilities	17,296	18,182
Long-Term Liabilities
Long-term debt	8,432	7,885
Deferred income taxes	1,371	1,302
Operating Lease, Liability, Noncurrent	800	863
Other	1,385	1,391
Total Long-Term Liabilities	11,988	11,441
Redeemable Noncontrolling Interest, Equity, Carrying Amount	71	74
Shareholders' Equity
Common stock	2,941	2,824
Reinvested earnings	20,762	19,780
Accumulated other comprehensive income (loss)	(2,121)	(2,604)
Noncontrolling interests	21	22
Total Shareholders' Equity	21,603	20,022
Total Liabilities and Shareholders' Equity	$ 50,958	$ 49,719

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Statement of Cash Flows [Abstract]
Gain (Loss) on Extinguishment of Debt	$ 0	$ 14
Operating Activities
Net earnings including noncontrolling interests	1,405	863
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities
Depreciation and amortization	492	489
Asset impairment charges	54	47
Deferred income taxes	(37)	49
Equity in earnings of affiliates, net of dividends	(23)	(93)
Stock compensation expense	114	75
Deferred cash flow hedges	183	(1)
Gain (Loss) on Disposition of Assets	(79)	(64)
Other - net	93	232
Changes in operating assets and liabilities, net of businesses acquired
Segregated cash and investments	610	570
Trade receivables	(710)	(364)
Inventories	223	1,439
Increase (Decrease) in Accounts Receivable from Securitization	0	(2,456)
Other current assets	780	(1,058)
Trade payables	(1,023)	(819)
Increase (Decrease) in Payables to Brokerage Customers	1,349	881
Accrued expenses and other payables	(424)	(240)
Total Operating Activities	3,007	(436)
Investing Activities
Purchases of property, plant, and equipment	(427)	(360)
Proceeds from sale of business and assets	58	91
Net assets of businesses acquired	(5)	(3)
Purchases of marketable securities	0	(3)
Payments to Acquire Interest in Subsidiaries and Affiliates	(8)	(5)
Distributions from affiliates	5	0
Payments to Acquire Retained Interest in Securitized Receivables	0	(2,121)
Proceeds from Collection of Retained Interest in Securitized Receivables	0	4,577
Other - net	(17)	(3)
Total Investing Activities	(394)	2,173
Financing Activities
Long-term debt borrowings	595	1,478
Long-term debt payments	(2)	(525)
Net borrowings (payments) under lines of credit agreements	(752)	(667)
Purchases of treasury stock	0	(112)
Cash dividends	(417)	(405)
Other - net	0	3
Total Financing Activities	(576)	(228)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	2,037	1,509
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning	4,646	2,990
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending	6,683	4,499
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents [Abstract]
Cash and cash equivalents	869	1,203
Restricted Cash and Cash Equivalents	5,814	3,296
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]
Noncash or Part Noncash Acquisition, Investments Acquired	$ 0	$ 3,383

Consolidated Statements Of Shar

Consolidated Statements Of Shareholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interests [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]Retained Earnings [Member]
Balance (shares) at Dec. 31, 2019		557
Balance at Dec. 31, 2019	$ 19,225	$ 2,655	$ 18,958	$ (2,405)	$ 17		$ (8)	$ 19,217	$ 18,950
Balance (Accounting Standards Update 2019-05) at Dec. 31, 2019						$ (8)	$ (8)
Comprehensive income
Net earnings including noncontrolling interests	863		860		3
Other comprehensive income (loss)	(296)			(300)	4
Total comprehensive income	$ 567
Common Stock, Dividends, Per Share, Cash Paid	$ 0.72
Cash dividends paid	$ (405)		(405)
Stock Repurchased During Period, Value	$ (112)		(112)
Stock Repurchased During Period, Shares		(3)
Stock compensation expense, shares	2
Stock compensation expense	$ 75	$ 75
Other, shares		0
Other	(31)	$ (25)	0	0	(6)
Balance (shares) at Jun. 30, 2020		556
Balance at Jun. 30, 2020	19,311	$ 2,705	19,293	(2,705)	18
Balance (shares) at Mar. 31, 2020		555
Balance at Mar. 31, 2020	18,976	$ 2,690	19,026	(2,764)	24
Comprehensive income
Net earnings including noncontrolling interests	472		469		3
Other comprehensive income (loss)	59			59	0
Total comprehensive income	$ 531
Common Stock, Dividends, Per Share, Cash Paid	$ 0.36
Cash dividends paid	$ (202)		(202)
Stock compensation expense, shares	1
Stock compensation expense	$ 24	$ 24
Other, shares		0
Other	(18)	$ (9)	0	0	(9)
Balance (shares) at Jun. 30, 2020		556
Balance at Jun. 30, 2020	19,311	$ 2,705	19,293	(2,705)	18
Balance (shares) at Dec. 31, 2020		556
Balance at Dec. 31, 2020	20,022	$ 2,824	19,780	(2,604)	22
Comprehensive income
Net earnings including noncontrolling interests	1,405		1,401		4
Other comprehensive income (loss)	483			483	0
Total comprehensive income	$ 1,888
Common Stock, Dividends, Per Share, Cash Paid	$ 0.74
Cash dividends paid	$ (417)		(417)
Stock compensation expense, shares		3
Stock compensation expense	114	$ 114
Other, shares		0
Other	(4)	$ 3	(2)		(5)
Balance (shares) at Jun. 30, 2021		559
Balance at Jun. 30, 2021	21,603	$ 2,941	20,762	(2,121)	21
Balance (shares) at Mar. 31, 2021		559
Balance at Mar. 31, 2021	20,861	$ 2,858	20,261	(2,278)	20
Comprehensive income
Net earnings including noncontrolling interests	712		712		0
Other comprehensive income (loss)	157			157	0
Total comprehensive income	$ 869
Common Stock, Dividends, Per Share, Cash Paid	$ 0.37
Cash dividends paid	$ (209)		(209)
Stock compensation expense, shares	0
Stock compensation expense	$ 38	$ 38
Other, shares		0
Other	44	$ 45	(2)	0	1
Balance (shares) at Jun. 30, 2021		559
Balance at Jun. 30, 2021	$ 21,603	$ 2,941	$ 20,762	$ (2,121)	$ 21

Consolidated Statements Of Sh_2

Consolidated Statements Of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Stockholders' Equity [Abstract]
Cash dividends paid, per share	$ 0.37	$ 0.36	$ 0.74	$ 0.72

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, these statements do not include all of the information and footnotes required by generally accepted accounting principles for audited financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the six months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. For further information, refer to the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated. The Company consolidates all entities, including variable interest entities (VIEs), in which it has a controlling financial interest. For VIEs, the Company assesses whether it is the primary beneficiary as defined under the applicable accounting standard. Investments in affiliates, including VIEs through which the Company exercises significant influence but does not control the investee and is not the primary beneficiary of the investee’s activities, are carried at cost plus equity in undistributed earnings since acquisition and are adjusted, where appropriate, for basis differences between the investment balance and the underlying net assets of the investee. The Company’s portion of the results of certain affiliates and results of certain VIEs are included using the most recent available financial statements. In each case, the financial statements are within 93 days of the Company’s year end and are consistent from period to period. Segregated Cash and Investments The Company segregates certain cash, cash equivalents, and investment balances in accordance with regulatory requirements, commodity exchange requirements, and insurance arrangements. These balances represent deposits received from customers of the Company’s registered futures commission merchant and commodity brokerage services, cash margins and securities pledged to commodity exchange clearinghouses, and cash pledged as security under certain insurance arrangements. Segregated cash and investments also include restricted cash collateral for the various insurance programs of the Company’s captive insurance business. To the degree these segregated balances are comprised of cash and cash equivalents, they are considered restricted cash and cash equivalents on the consolidated statements of cash flows. Receivables The Company records receivables at net realizable value in trade receivables, other current assets, and other assets. These amounts include allowances for estimated uncollectible accounts totaling $86 million and $100 million at June 30, 2021 and December 31, 2020, respectively, to reflect any loss anticipated on the accounts receivable balances including any accrued interest receivables thereon. Long-term receivables recorded in other assets were not material to the Company’s overall receivables portfolio. Effective January 1, 2020, the Company adopted Accounting Standards Codification (ASC) Topic 326, Financial Instruments - Credit Losses (Topic 326), and developed a new methodology for estimating uncollectible accounts. Under this methodology, receivables are pooled according to type, region, credit risk rating, and age. Each pool is assigned an expected loss co-efficient to arrive at a general reserve based on historical write-offs adjusted, as needed, for regional, economic, and other forward-looking factors. The Company minimizes credit risk due to the large and diversified nature of its worldwide customer base. ADM manages its exposure to counter-party credit risk through credit analysis and approvals, credit limits, and monitoring procedures. The Company recorded a cumulative effect adjustment to retained earnings at January 1, 2020 of $8 million as a result of the adoption of Topic 326. The Company recorded bad debt expense in selling, general, and administrative expenses of $4 million and $8 million in the three and six months ended June 30, 2021, respectively, and $14 million and $25 million in the three and six months ended June 30, 2020. Inventory Valuation Effective January 1, 2020, the Company changed the method of accounting for certain of its agricultural commodity inventories from the last-in, first-out (LIFO) method to market value in the Ag Services and Oilseeds segment. As of December 31, 2019, inventories accounted for using LIFO at the lower of cost or net realizable value represented approximately 10% of consolidated inventories. The Company believes market value is preferable because it: (i) conforms to the inventory valuation methodology used for the majority of ADM’s agricultural commodity inventories; (ii) enhances the matching of inventory costs with revenues and better reflects the current cost of inventory on the Company’s balance sheet; and (iii) provides better comparability with the Company’s peers. The Company concluded that the accounting change did not have a material effect on prior periods’ financial statements and elected not to apply the change on a retrospective basis. As a result, the Company recorded a reduction in cost of products sold of $91 million ($69 million after tax, equal to $0.12 per diluted share) for the cumulative effect of the change in the six months ended June 30, 2020 with no impact to the statement of cash flows. Reclassification During the quarter and six months ended June 30, 2021, the Company recorded a $40 million revaluation gain on a cost method investment in connection with an observable third-party transaction in investment income (previously interest income) in the consolidated statements of earnings. Revaluation gains previously recorded in other (income) expense - net of $11 million and $19 million in the quarter and six months ended June 30, 2020, respectively, were reclassified to conform to the current presentation.

New Accounting Standards

New Accounting Standards	6 Months Ended
	Jun. 30, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
Accounting Standards Update and Change in Accounting Principle [Text Block]	New Accounting Standards Effective January 1, 2021, the Company adopted the amended guidance of ASC Topic 740, Income Taxes (Topic 740), which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also simplify and improve consistent application of other areas of Topic 740. The adoption of the amended guidance did not have a significant impact on the Company’s consolidated financial statements.

Pending Accounting Standards

Pending Accounting Standards	6 Months Ended
	Jun. 30, 2021
Prospective Adoption of New Accounting Pronouncements [Abstract]
Pending Accounting Standards	Pending Accounting Standards Through December 31, 2022, the Company has the option to adopt the amended guidance of ASC Topic 848, Reference Rate Reform , which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amended guidance do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The Company plans to adopt the expedients and exceptions provided by the amended guidance before the December 31, 2022 expiry date but has not yet completed its assessment of the impact on the consolidated financial statements.

Revenues Revenues

Revenues Revenues	6 Months Ended
	Jun. 30, 2021
Revenues [Abstract]
Revenues [Text Block]	Revenues Revenue Recognition The Company principally generates revenue from merchandising and transporting agricultural commodities, and manufactured products for use in food, beverages, feed, energy, and industrial applications, and ingredients and solutions for human and animal nutrition. Revenue is measured based on the consideration specified in the contract with a customer, and excludes any sales incentives and amounts collected on behalf of third parties. The Company follows a policy of recognizing revenue at a single point in time when it satisfies its performance obligation by transferring control over a product or service to a customer. The majority of the Company’s contracts with customers have one performance obligation and a contract duration of one year or less. The Company applies the practical expedient in paragraph 10-50-14 of ASC 606, Revenue from Contracts with Customers (Topic 606) and does not disclose information about remaining performance obligations that have original expected durations of one year or less. For transportation service contracts, the Company recognizes revenue over time as the barge, ocean-going vessel, truck, rail, or container freight moves towards its destination in accordance with the transfer of control guidance of Topic 606. The Company recognized revenue from transportation service contracts of $151 million and $255 million for the three and six months ended June 30, 2021, respectively, and $106 million and $223 million for the three and six months ended June 30, 2020, respectively. For physically settled derivative sales contracts that are outside the scope of Topic 606, the Company recognizes revenue when control of the inventory is transferred within the meaning of Topic 606 as required by ASC 610-20, Gains and Losses from the Derecognition of Nonfinancial Assets (Topic 610-20). Shipping and Handling Costs Shipping and handling costs related to contracts with customers for the sale of goods are accounted for as a fulfillment activity and are included in cost of products sold. Accordingly, amounts billed to customers for such costs are included as a component of revenues. Taxes Collected from Customers and Remitted to Governmental Authorities The Company does not include taxes assessed by governmental authorities that are (i) imposed on and concurrent with a specific revenue-producing transaction and (ii) collected from customers, in the measurement of transactions prices or as a component of revenues and cost of products sold. Contract Liabilities Contract liabilities relate to advance payments from customers for goods and services that the Company has yet to provide. Contract liabilities of $357 million and $626 million as of June 30, 2021 and December 31, 2020, respectively, were recorded in accrued expenses and other payables in the consolidated balance sheets. Contract liabilities recognized as revenues were $287 million and $569 million for the three and six months ended June 30, 2021, respectively, and $339 million and $621 million for the three and six months ended June 30, 2020, respectively. Disaggregation of Revenues The following tables present revenue disaggregated by timing of recognition and major product lines for the three and six months ended June 30, 2021 and 2020. Three Months Ended June 30, 2021 Topic 606 Revenue Topic 815 (1) Total Point in Time Over Time Total Revenue Revenues (In millions) Ag Services and Oilseeds Ag Services $ 802 $ 151 $ 953 $ 11,862 $ 12,815 Crushing 92 — 92 2,735 2,827 Refined Products and Other 659 — 659 1,970 2,629 Total Ag Services and Oilseeds 1,553 151 1,704 16,567 18,271 Carbohydrate Solutions Starches and Sweeteners 1,449 — 1,449 397 1,846 Vantage Corn Processors 974 — 974 — 974 Total Carbohydrate Solutions 2,423 — 2,423 397 2,820 Nutrition Human Nutrition 848 — 848 — 848 Animal Nutrition 885 — 885 — 885 Total Nutrition 1,733 — 1,733 — 1,733 Other Business 102 — 102 — 102 Total Revenues $ 5,811 $ 151 $ 5,962 $ 16,964 $ 22,926 Six Months Ended June 30, 2021 Topic 606 Revenue Topic 815 (1) Total Point in Time Over Time Total Revenue Revenues (In millions) Ag Services and Oilseeds Ag Services $ 1,464 $ 255 $ 1,719 $ 21,242 $ 22,961 Crushing 216 — 216 5,353 5,569 Refined Products and Other 1,171 — 1,171 3,577 4,748 Total Ag Services and Oilseeds 2,851 255 3,106 30,172 33,278 Carbohydrate Solutions Starches and Sweeteners 2,810 — 2,810 781 3,591 Vantage Corn Processors 1,452 — 1,452 — 1,452 Total Carbohydrate Solutions 4,262 — 4,262 781 5,043 Nutrition Human Nutrition 1,602 — 1,602 — 1,602 Animal Nutrition 1,694 — 1,694 — 1,694 Total Nutrition 3,296 — 3,296 — 3,296 Other Business 202 — 202 — 202 Total Revenues $ 10,611 $ 255 $ 10,866 $ 30,953 $ 41,819 Three Months Ended June 30, 2020 Topic 606 Revenue Topic 815 (1) Total Point in Time Over Time Total Revenue Revenues (In millions) Ag Services and Oilseeds Ag Services $ 877 $ 106 $ 983 $ 7,669 $ 8,652 Crushing 200 — 200 2,205 2,405 Refined Products and Other 521 — 521 1,163 1,684 Total Ag Services and Oilseeds 1,598 106 1,704 11,037 12,741 Carbohydrate Solutions Starches and Sweeteners 1,137 — 1,137 408 1,545 Vantage Corn Processors 469 — 469 — 469 Total Carbohydrate Solutions 1,606 — 1,606 408 2,014 Nutrition Human Nutrition 723 — 723 — 723 Animal Nutrition 714 — 714 — 714 Total Nutrition 1,437 — 1,437 — 1,437 Other Business 89 — 89 — 89 Total Revenues $ 4,730 $ 106 $ 4,836 $ 11,445 $ 16,281 Six Months Ended June 30, 2020 Topic 606 Revenue Topic 815 (1) Total Point in Time Over Time Total Revenue Revenues (In millions) Ag Services and Oilseeds Ag Services $ 1,728 $ 223 $ 1,951 $ 13,627 $ 15,578 Crushing 380 — 380 4,338 4,718 Refined Products and Other 1,039 — 1,039 2,485 3,524 Total Ag Services and Oilseeds 3,147 223 3,370 20,450 23,820 Carbohydrate Solutions Starches and Sweeteners 2,377 — 2,377 818 3,195 Vantage Corn Processors 1,135 — 1,135 — 1,135 Total Carbohydrate Solutions 3,512 — 3,512 818 4,330 Nutrition Human Nutrition 1,442 — 1,442 — 1,442 Animal Nutrition 1,466 — 1,466 — 1,466 Total Nutrition 2,908 — 2,908 — 2,908 Other Business 193 — 193 — 193 Total Revenues $ 9,760 $ 223 $ 9,983 $ 21,268 $ 31,251 (1) Topic 815 revenue relates to the physical delivery or the settlement of the Company’s sales contracts that are accounted for as derivatives and are outside the scope of Topic 606. Ag Services and Oilseeds The Ag Services and Oilseeds segment generates revenue from the sale of commodities, from service fees for the transportation of goods, from the sale of products manufactured in its global processing facilities, and from its structured trade finance activities. Revenue is measured based on the consideration specified in the contract and excludes any sales incentives and amounts collected on behalf of third parties. Revenue is recognized when a performance obligation is satisfied by transferring control over a product or providing service to a customer. For transportation service contracts, the Company recognizes revenue over time as the barge, ocean-going vessel, truck, rail, or container freight moves towards its destination in accordance with the transfer of control guidance of Topic 606. The amount of revenue recognized follows the contractually specified price which may include freight or other contractually specified cost components. For physically settled derivative sales contracts that are outside the scope of Topic 606, the Company recognizes revenue when control of the inventory is transferred within the meaning of Topic 606 as required by Topic 610-20. Carbohydrate Solutions The Carbohydrate Solutions segment generates revenue from the sale of products manufactured at the Company’s global corn and wheat milling facilities around the world. Revenue is recognized when control over products is transferred to the customer. Products are shipped to customers from the Company’s various facilities and from its network of storage terminals. The amount of revenue recognized is based on the consideration specified in the contract which could include freight and other costs depending on the specific shipping terms of each contract. For physically settled derivative sales contracts that are outside the scope of Topic 606, the Company recognizes revenue when control of the inventory is transferred within the meaning of Topic 606 as required by Topic 610-20. Nutrition The Nutrition segment sells a wide array of ingredients and solutions including plant-based proteins, natural flavors, flavor systems, natural colors, emulsifiers, soluble fiber, polyols, hydrocolloids, probiotics, prebiotics, enzymes, botanical extracts, edible beans, formula feeds, animal health and nutrition products, and other specialty food and feed ingredients. Revenue is recognized when control over products is transferred to the customer. The amount of revenue recognized follows the contracted price or the mutually agreed price of the product. Freight and shipping are recognized as a component of revenue at the same time control transfers to the customer. Other Business Other Business includes the Company’s futures commission business whose primary sources of revenue are commissions and brokerage income generated from executing orders and clearing futures contracts and options on futures contracts on behalf of its customers. Commissions and brokerage revenue are recognized on the date the transaction is executed. Other Business also includes the Company’s captive insurance business which generates third party revenue through its proportionate share of premiums from third-party reinsurance pools. Reinsurance premiums are recognized on a straight-line basis over the period underlying the policy.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following tables set forth, by level, the Company’s assets and liabilities that were accounted for at fair value on a recurring basis as of June 30, 2021 and December 31, 2020. Fair Value Measurements at June 30, 2021 Quoted Prices in Significant Significant Total (In millions) Assets: Inventories carried at market $ — $ 4,698 $ 2,824 $ 7,522 Unrealized derivative gains: Commodity contracts — 1,317 551 1,868 Foreign currency contracts — 324 — 324 Interest rate contracts — 89 — 89 Cash equivalents 332 — — 332 Segregated investments 1,001 — — 1,001 Total Assets $ 1,333 $ 6,428 $ 3,375 $ 11,136 Liabilities: Unrealized derivative losses: Commodity contracts $ — $ 892 $ 1,037 $ 1,929 Foreign currency contracts — 252 — 252 Interest rate contracts — 1 — 1 Debt conversion option — — 24 24 Inventory-related payables — 568 38 606 Total Liabilities $ — $ 1,713 $ 1,099 $ 2,812 Fair Value Measurements at December 31, 2020 Significant Significant Total (In millions) Assets: Inventories carried at market $ — $ 5,758 $ 2,183 $ 7,941 Unrealized derivative gains: Commodity contracts — 1,905 859 2,764 Foreign currency contracts — 283 — 283 Interest rate contracts — 61 — 61 Cash equivalents 297 — — 297 Marketable securities 1 — — 1 Segregated investments 1,067 — — 1,067 Total Assets $ 1,365 $ 8,007 $ 3,042 $ 12,414 Liabilities: Unrealized derivative losses: Commodity contracts $ — $ 1,116 $ 918 $ 2,034 Foreign currency contracts — 535 — 535 Interest rate contracts — 15 — 15 Debt conversion option — — 34 34 Inventory-related payables — 498 11 509 Total Liabilities $ — $ 2,164 $ 963 $ 3,127 Estimated fair values for inventories carried at market are based on exchange-quoted prices, adjusted for differences in local markets and quality, referred to as basis. Market valuations for the Company’s inventories are adjusted for location and quality (basis) because the exchange-quoted prices represent contracts that have standardized terms for commodity, quantity, future delivery period, delivery location, and commodity quality or grade. The basis adjustments are generally determined using the inputs from broker or dealer quotations or market transactions in either the listed or over the counter (OTC) markets and are considered observable. In some cases, the basis adjustments are unobservable because they are supported by little to no market activity. When unobservable inputs have a significant impact on the measurement of fair value, the inventory is classified in Level 3. Changes in the fair value of inventories are recognized in the consolidated statements of earnings as a component of cost of products sold. Derivative contracts include exchange-traded commodity futures and options contracts, forward commodity purchase and sale contracts, and OTC instruments related primarily to agricultural commodities, energy, interest rates, and foreign currencies. Exchange-traded futures and options contracts are valued based on unadjusted quoted prices in active markets and are classified in Level 1. The majority of the Company’s exchange-traded futures and options contracts are cash-settled on a daily basis and, therefore, are not included in these tables. Fair value for forward commodity purchase and sale contracts is estimated based on exchange-quoted prices adjusted for differences in local markets. Market valuations for the Company’s forward commodity purchase and sale contracts are adjusted for location (basis) because the exchange-quoted prices represent contracts that have standardized terms for commodity, quantity, future delivery period, delivery location, and commodity quality or grade. The basis adjustments are generally determined using inputs from broker or dealer quotations or market transactions in either the listed or OTC markets and are considered observable. In some cases, the basis adjustments are unobservable because they are supported by little to no market activity. When observable inputs are available for substantially the full term of the contract, it is classified in Level 2. When unobservable inputs have a significant impact (more than 10%) on the measurement of fair value, the contract is classified in Level 3. Except for certain derivatives designated as cash flow hedges, changes in the fair value of commodity-related derivatives are recognized in the consolidated statements of earnings as a component of cost of products sold. Changes in the fair value of foreign currency-related derivatives are recognized in the consolidated statements of earnings as a component of revenues, cost of products sold, or other (income) expense - net, depending upon the purpose of the contract. The changes in the fair value of derivatives designated as effective cash flow hedges are recognized in the consolidated balance sheets as a component of accumulated other comprehensive income (loss) (AOCI) until the hedged items are recorded in earnings or it is probable the hedged transaction will no longer occur. The Company’s cash equivalents are comprised of money market funds valued using quoted market prices and are classified as Level 1. The Company’s segregated investments are comprised of U.S. Treasury securities. U.S. Treasury securities are valued using quoted market prices and are classified in Level 1. The debt conversion option is the equity linked embedded derivative related to the exchangeable bonds issued in August 2020. The fair value of the embedded derivative is included in long-term debt, with changes in fair value recognized as interest, and is valued with the assistance of a third-party pricing service (a level 3 measurement under applicable accounting standards). The following table presents a rollforward of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended June 30, 2021. Level 3 Fair Value Asset Measurements at June 30, 2021 Inventories Commodity Total Assets (In millions) Balance, March 31, 2021 $ 3,070 $ 684 $ 3,754 Total increase (decrease) in net realized/unrealized gains included in cost of products sold* 75 273 348 Purchases 7,163 — 7,163 Sales (7,356) — (7,356) Settlements — (395) (395) Transfers into Level 3 410 22 432 Transfers out of Level 3 (538) (33) (571) Ending balance, June 30, 2021 $ 2,824 $ 551 $ 3,375 * Includes increase in unrealized gains of $380 million relating to Level 3 assets still held at June 30, 2021. The following table presents a rollforward of liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended June 30, 2021. Level 3 Fair Value Liability Measurements at June 30, 2021 Inventory- Commodity Foreign Currency Derivative Contracts Losses Debt Conversion Option Total Liabilities (In millions) Balance, March 31, 2021 $ 21 $ 648 $ 11 $ 54 $ 734 Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense* — 681 — (30) 651 Purchases 17 — — — 17 Settlements — (447) — — (447) Transfers into Level 3 — 170 — — 170 Transfers out of Level 3 — (15) (11) — (26) Ending balance, June 30, 2021 $ 38 $ 1,037 $ — $ 24 $ 1,099 * Includes increase in unrealized losses of $683 million relating to Level 3 liabilities still held at June 30, 2021. The following table presents a rollforward of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended June 30, 2020. Level 3 Fair Value Asset Measurements at June 30, 2020 Inventories Commodity Total Assets (In millions) Balance, March 31, 2020 $ 1,938 $ 391 $ 2,329 Total increase (decrease) in net realized/unrealized gains included in cost of products sold* 279 229 508 Purchases 3,012 — 3,012 Sales (3,625) — (3,625) Settlements — (190) (190) Transfers into Level 3 306 23 329 Transfers out of Level 3 (511) (11) (522) Ending balance, June 30, 2020 $ 1,399 $ 442 $ 1,841 * Includes increase in unrealized gains of $422 million relating to Level 3 assets still held at June 30, 2020. The following table presents a rollforward of liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended June 30, 2020. Level 3 Fair Value Liability Measurements at June 30, 2020 Inventory- Commodity Total Liabilities (In millions) Balance, March 31, 2020 $ 20 $ 309 $ 329 Total increase (decrease) in net realized/unrealized losses included in cost of products sold* 1 247 248 Purchases 2 — 2 Sales (9) — (9) Settlements — (211) (211) Transfers into Level 3 — 19 19 Transfers out of Level 3 — (1) (1) Ending balance, June 30, 2020 $ 14 $ 363 $ 377 * Includes increase in unrealized losses of $253 million relating to Level 3 liabilities still held at June 30, 2020. The following table presents a rollforward of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the six months ended June 30, 2021. Level 3 Fair Value Asset Measurements at June 30, 2021 Inventories Commodity Total Assets (In millions) Balance, December 31, 2020 $ 2,183 $ 859 $ 3,042 Total increase (decrease) in net realized/unrealized gains included in cost of products sold* 805 516 1,321 Purchases 13,548 — 13,548 Sales (13,988) — (13,988) Settlements — (823) (823) Transfers into Level 3 926 45 971 Transfers out of Level 3 (650) (46) (696) Ending balance, June 30, 2021 $ 2,824 $ 551 $ 3,375 * Includes increase in unrealized gains of $1.2 billion relating to Level 3 assets still held at June 30, 2021. The following table presents a rollforward of liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the six months ended June 30, 2021. Level 3 Fair Value Liability Measurements at June 30, 2021 Inventory- Commodity Foreign Currency Derivative Contracts Losses Debt Conversion Option Total Liabilities (In millions) Balance, December 31, 2020 $ 11 $ 918 $ — $ 34 $ 963 Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense* — 1,062 — (10) 1,052 Purchase 29 — — — 29 Sales (2) — — — (2) Settlements — (1,013) — — (1,013) Transfers into Level 3 — 224 11 — 235 Transfers out of Level 3 — (154) (11) — (165) Ending balance, June 30, 2021 $ 38 $ 1,037 $ — $ 24 $ 1,099 * Includes increase in unrealized losses of $1.1 billion relating to Level 3 liabilities still held at June 30, 2021. The following table presents a rollforward of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the six months ended June 30, 2020. Level 3 Fair Value Asset Measurements at June 30, 2020 Inventories Commodity Total Assets (In millions) Balance, December 31, 2019 $ 1,477 $ 201 $ 1,678 Total increase (decrease) in net realized/unrealized gains included in cost of products sold* 396 446 842 Purchases 6,419 — 6,419 Sales (7,135) — (7,135) Settlements — (235) (235) Transfers into Level 3 306 44 350 Transfers out of Level 3 (64) (14) (78) Ending balance, June 30, 2020 $ 1,399 $ 442 $ 1,841 * Includes increase in unrealized gains of $804 million relating to Level 3 assets still held at June 30, 2020. The following table presents a rollforward of liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the six months ended June 30, 2020. Level 3 Fair Value Liability Measurements at June 30, 2020 Inventory- Commodity Total Liabilities (In millions) Balance, December 31, 2019 $ 27 $ 199 $ 226 Total increase (decrease) in net realized/unrealized losses included in cost of products sold* 4 452 456 Purchases 8 — 8 Sales (25) — (25) Settlements — (333) (333) Transfers into Level 3 — 55 55 Transfers out of Level 3 — (10) (10) Ending balance, June 30, 2020 $ 14 $ 363 $ 377 * Includes increase in unrealized losses of $463 million relating to Level 3 liabilities still held at June 30, 2020. Transfers into Level 3 of assets and liabilities previously classified in Level 2 were due to the relative value of unobservable inputs to the total fair value measurement of certain products and derivative contracts rising above the 10% threshold. In some cases, the price components that result in differences between exchange-traded prices and local prices for inventories and commodity purchase and sale contracts are observable based upon available quotations for these pricing components, and in some cases, the differences are unobservable. These price components primarily include transportation costs and other adjustments required due to location, quality, or other contract terms. In the table below, these other adjustments are referred to as basis. The changes in unobservable price components are determined by specific local supply and demand characteristics at each facility and the overall market. Factors such as substitute products, weather, fuel costs, contract terms, and futures prices also impact the movement of these unobservable price components. The following table sets forth the weighted average percentage of the unobservable price components included in the Company’s Level 3 valuations as of June 30, 2021 and December 31, 2020. The Company’s Level 3 measurements may include basis only, transportation cost only, or both price components. As an example, for Level 3 inventories with basis, the unobservable component as of June 30, 2021 is a weighted average 30.2% of the total price for assets and 16.2% of the total price for liabilities. Weighted Average % of Total Price June 30, 2021 December 31, 2020 Component Type Assets Liabilities Assets Liabilities Inventories and Related Payables Basis 30.2 % 16.2 % 4.3 % 13.7 % Transportation cost 12.5 % — % 10.6 % — % Commodity Derivative Contracts Basis 29.5 % 39.6 % 28.3 % 0.7 % Transportation cost 3.3 % 3.0 % 1.9 % 1.3 % In certain of the Company’s principal markets, the Company relies on price quotes from third parties to value its inventories and physical commodity purchase and sale contracts. These price quotes are generally not further adjusted by the Company in determining the applicable market price. In some cases, availability of third-party quotes is limited to only one or two independent sources. In these situations, absent other corroborating evidence, the Company considers these price quotes as 100% unobservable and, therefore, the fair value of these items is reported in Level 3.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities Derivatives Not Designated as Hedging Instruments The majority of the Company’s derivative instruments have not been designated as hedging instruments. The Company uses exchange-traded futures and exchange-traded and OTC options contracts to manage its net position of merchandisable agricultural product inventories and forward cash purchase and sales contracts to reduce price risk caused by market fluctuations in agricultural commodities and foreign currencies. The Company also uses exchange-traded futures and exchange-traded and OTC options contracts as components of merchandising strategies designed to enhance margins. The results of these strategies can be significantly impacted by factors such as the correlation between the value of exchange-traded commodities futures contracts and the value of the underlying commodities, counterparty contract defaults, and volatility of freight markets. Derivatives, including exchange-traded contracts and physical purchase or sale contracts, and inventories of certain merchandisable agricultural product inventories, which include amounts acquired under deferred pricing contracts, are stated at market value. Inventory is not a derivative and therefore fair values of and changes in fair values of inventories are not included in the tables below. The following table sets forth the fair value of derivatives not designated as hedging instruments as of June 30, 2021 and December 31, 2020. June 30, 2021 December 31, 2020 Assets Liabilities Assets Liabilities (In millions) Foreign Currency Contracts $ 324 $ 74 $ 283 $ 270 Commodity Contracts 1,868 1,929 2,764 2,034 Debt Conversion Option — 24 — 34 Total $ 2,192 $ 2,027 $ 3,047 $ 2,338 The following tables set forth the pre-tax gains (losses) on derivatives not designated as hedging instruments that have been included in the consolidated statements of earnings for the three and six months ended June 30, 2021 and 2020. Other expense (income) - net Cost of Interest (In millions) Revenues products sold expense Three Months Ended June 30, 2021 Consolidated Statement of Earnings $ 22,926 $ 21,463 $ 49 $ 40 Pre-tax gains (losses) on: Foreign Currency Contracts $ (43) $ 214 $ (45) $ — Commodity Contracts — (673) — — Debt Conversion Option — — — 30 Total gain (loss) recognized in earnings $ (43) $ (459) $ (45) $ 30 $ (517) Three Months Ended June 30, 2020 Consolidated Statement of Earnings $ 16,281 $ 15,173 $ (56) $ 87 Pre-tax gains (losses) on: Foreign Currency Contracts $ 11 $ (76) $ (52) $ — Commodity Contracts — (29) — — Total gain (loss) recognized in earnings $ 11 $ (105) $ (52) $ — $ (146) Other expense (income) - net Cost of Interest (In millions) Revenues products sold expense Six Months Ended June 30, 2021 Consolidated Statement of Earnings $ 41,819 $ 38,808 $ 16 $ 127 Pre-tax gains (losses) on: Foreign Currency Contracts $ (13) $ (48) $ 75 $ — Commodity Contracts — (1,455) — — Debt Conversion Option — — — 10 Total gain (loss) recognized in earnings $ (13) $ (1,503) $ 75 $ 10 $ (1,431) Six Months Ended June 30, 2020 Consolidated Statement of Earnings $ 31,251 $ 29,192 $ (80) $ 170 Pre-tax gains (losses) on: Foreign Currency Contracts $ 46 $ (661) $ 72 $ — Commodity Contracts — 593 55 — Total gain (loss) recognized in earnings $ 46 $ (68) $ 127 $ — $ 105 Changes in the market value of inventories of certain merchandisable agricultural product inventories, forward cash purchase and sales contracts, exchange-traded futures and exchange-traded and OTC options contracts are recognized in earnings immediately as a component of cost of products sold. Derivatives Designated as Cash Flow and Net Investment Hedging Strategies The Company had certain derivatives designated as cash flow and net investment hedges as of June 30, 2021 and December 31, 2020. For derivative instruments that are designated and qualify as net investment hedges, foreign exchange gains and losses related to changes in foreign currency exchange rates are deferred in AOCI until the underlying investment is divested. The Company uses cross-currency swaps and foreign exchange forwards designated as net investment hedges to protect the Company’s investment in a foreign subsidiary against changes in foreign currency exchange rates. The Company executed USD-fixed to Euro-fixed cross-currency swaps with an aggregate notional amount of $1.3 billion as of June 30, 2021 and December 31, 2020, and foreign exchange forwards with an aggregate notional amount of $1.8 billion as of June 30, 2021 and December 31, 2020. As of June 30, 2021 and December 31, 2020, the Company had after-tax losses of $136 million and $202 million in AOCI, respectively, related to foreign exchange gains and losses from these net investment hedge transactions. The amount is deferred in AOCI until the underlying investment is divested. For derivative instruments that are designated and qualify as highly-effective cash flow hedges (i.e., hedging the exposure to variability in expected future cash flow that is attributable to a particular risk), the gain or loss on the derivative instrument is reported as a component of AOCI and as an operating activity in the statement of cash flows and reclassified into earnings in the same line item affected by the hedged transaction and in the same period or periods during which the hedged transaction affects earnings. Hedge components excluded from the assessment of effectiveness and gains and losses related to discontinued hedges are recognized in the consolidated statement of earnings during the current period. The Company’s structured trade finance programs use interest rate swaps designated as cash flow hedges to hedge the forecasted interest payments on certain letters of credit from banks. The terms of the interest rate swaps match the terms of the forecasted interest payments. The deferred gains and losses are recognized in revenues over the period in which the related interest payments are paid to the banks. The amounts are recorded in revenues as the related results are also recorded in revenues. As of June 30, 2021 and December 31, 2020, the Company had interest rate swaps maturing on various dates with aggregate notional amounts of $0.8 billion and $3.3 billion, respectively. The Company also uses swap locks designated as cash flow hedges to hedge the changes in the forecasted interest payments due to changes in the benchmark rate leading up to future bond issuance dates. The terms of the swap locks match the terms of the forecasted interest payments. The deferred gains and losses will be recognized in interest expense over the period in which the related interest payments will be paid. As of June 30, 2021 and December 31, 2020, the Company executed swap locks maturing on various dates with an aggregate notional amount of $550 million. As of June 30, 2021 and December 31, 2020, the Company had after-tax gains of $67 million and $31 million in AOCI, respectively, related to the interest rate swaps and the swap locks. The Company expects to recognize this amount in its consolidated statements of earnings during the life of the instruments. For each of the hedge programs described below, the derivatives are designated as cash flow hedges. The changes in the market value of such derivative contracts have historically been, and are expected to continue to be, highly effective at offsetting changes in price movements of the hedged item. Once the hedged item is recognized in earnings, the gains and losses arising from the hedge are reclassified from AOCI to either revenues or cost of products sold, as applicable. As of June 30, 2021 and December 31, 2020, the Company had after-tax gains of $185 million and $119 million in AOCI, respectively, related to gains and losses from these programs. The Company expects to recognize $185 million of the June 30, 2021 after-tax gains in its consolidated statements of earnings during the next 12 months. The Company uses futures or options contracts to hedge the purchase price of anticipated volumes of corn to be purchased and processed in a future month. The objective of this hedging program is to reduce the variability of cash flows associated with the Company’s forecasted purchases of corn. The Company’s corn processing plants normally grind approximately 72 million bushels of corn per month. From April 2020 to March 2021, the Company temporarily idled dry mill assets and was grinding approximately 56 million bushels of corn per month. In April 2021, the Company resumed ethanol production at its two corn dry mill facilities. During the past 12 months, the Company hedged between 23% and 38% of its monthly grind. At June 30, 2021, the Company had designated hedges representing between 2% and 33% of its anticipated monthly grind of corn for the next 12 months. The Company, from time to time, also uses futures, options, and swaps to hedge the sales price of certain ethanol sales contracts. The Company has established hedging programs for ethanol sales contracts that are indexed to unleaded gasoline prices and to various exchange-traded ethanol contracts. The objective of these hedging programs is to reduce the variability of cash flows associated with the Company’s sales of ethanol. During the past 12 months, the Company hedged between 0 and 1 million gallons of ethanol sales per month under these programs. The Company had no hedges related to ethanol sales as of June 30, 2021. The Company uses futures and options contracts to hedge the purchase price of anticipated volumes of soybeans to be purchased and processed in a future month for certain of its U.S. soybean crush facilities. The Company also uses futures or options contracts to hedge the sales prices of anticipated soybean meal and soybean oil sales proportionate to the soybean crushing process at these facilities. During the past 12 months, the Company hedged between 27% and 100% of the anticipated monthly soybean crush for soybean purchases and soybean meal and oil sales at the designated facilities. At June 30, 2021, the Company had designated hedges representing between 0% and 100% of the anticipated monthly soybean crush for soybean purchases and soybean meal and oil sales at the designated facilities over the next 12 months. The following table sets forth the fair value of derivatives designated as hedging instruments as of June 30, 2021 and December 31, 2020. June 30, 2021 December 31, 2020 Assets Liabilities Assets Liabilities (In millions) Foreign Currency Contracts $ — $ 178 $ — $ 265 Interest Rate Contracts 89 1 61 15 Total $ 89 $ 179 $ 61 $ 280 The following table sets forth the pre-tax gains (losses) on derivatives designated as hedging instruments that have been included in the consolidated statements of earnings for the three and six months ended June 30, 2021 and 2020. Cost of products sold Interest expense (In millions) Revenues Three Months Ended June 30, 2021 Consolidated Statement of Earnings $ 22,926 $ 21,463 $ 40 Effective amounts recognized in earnings Pre-tax gains (losses) on: Commodity Contracts $ — $ 239 $ — Interest Contracts (1) — — Total gain (loss) recognized in earnings $ (1) $ 239 $ — $ 238 Three Months Ended June 30, 2020 Consolidated Statement of Earnings $ 16,281 $ 15,173 $ 87 Effective amounts recognized in earnings Pre-tax gains (losses) on: Commodity Contracts $ 3 $ (36) $ — Interest Contracts (16) — (8) Total gain (loss) recognized in earnings $ (13) $ (36) $ (8) $ (57) Cost of products sold Interest expense (In millions) Revenues Six Months Ended June 30, 2021 Consolidated Statement of Earnings $ 41,819 $ 38,808 $ 127 Effective amounts recognized in earnings Pre-tax gains (losses) on: Commodity Contracts $ — $ 328 $ — Interest Contracts (15) — — Total gain (loss) recognized in earnings $ (15) $ 328 $ — $ 313 Six Months Ended June 30, 2020 Consolidated Statement of Earnings $ 31,251 $ 29,192 $ 170 Effective amounts recognized in earnings Pre-tax gains (losses) on: Commodity Contracts $ 8 $ (60) $ — Interest Contracts (41) — (8) Total gain (loss) recognized in earnings $ (33) $ (60) $ (8) $ (101) Other Net Investment Hedging Strategies The Company has designated €2.3 billion and €1.5 billion of its outstanding long-term debt and commercial paper borrowings at June 30, 2021 and December 31, 2020, respectively, as hedges of its net investment in a foreign subsidiary. As of June 30, 2021 and December 31, 2020, the Company had after-tax losses of $30 million and $87 million in AOCI, respectively, related to foreign exchange gains and losses from these net investment hedge transactions. The amount is deferred in AOCI until the underlying investment is divested.

Other Current Assets

Other Current Assets	6 Months Ended
	Jun. 30, 2021
Other Assets [Abstract]
Other Current Assets	Other Current Assets The following table sets forth the items in other current assets: June 30, December 31, 2021 2020 (In millions) Unrealized gains on derivative contracts $ 2,281 $ 3,108 Margin deposits and grain accounts 609 500 Customer omnibus receivable 1,038 860 Financing receivables - net (1) 142 297 Insurance premiums receivable 64 35 Prepaid expenses 361 290 Biodiesel tax credit 99 101 Tax receivables 578 680 Non-trade receivables (2) 294 218 Other current assets 131 135 $ 5,597 $ 6,224 (1) The Company provides financing to certain suppliers, primarily Brazilian farmers, to finance a portion of the suppliers’ production costs. The amounts are reported net of allowances of $4 million at June 30, 2021 and December 31, 2020. Interest earned on financing receivables of $2 million and $6 million for the three and six months ended June 30, 2021, respectively and $3 million and $11 million for the three and six months ended June 30, 2020, respectively, is included in interest income in the consolidated statements of earnings. (2) Non-trade receivables included $66 million and $40 million of reinsurance recoverables as of June 30, 2021 and December 31, 2020, respectively.

Accrued Expenses And Other Paya

Accrued Expenses And Other Payables	6 Months Ended
	Jun. 30, 2021
Accrued Liabilities and Other Liabilities [Abstract]
Accrued Expenses And Other Payables	Accrued Expenses and Other Payables The following table sets forth the items in accrued expenses and other payables: June 30, December 31, 2021 2020 (In millions) Unrealized losses on derivative contracts $ 2,182 $ 2,584 Accrued compensation 397 396 Income tax payable 109 41 Other taxes payable 137 127 Biodiesel tax credit payable 3 5 Insurance claims payable 224 238 Contract liability 357 626 Other accruals and payables 1,070 926 $ 4,479 $ 4,943

Debt And Financing Arrangements

Debt And Financing Arrangements	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt And Financing Arrangements	Debt and Financing Arrangements On March 25, 2021, the Company issued, in a private placement transaction, €500 million aggregate principal amount of Fixed-to-Floating Rate Senior Notes due September 25, 2022. At June 30, 2021, the fair value of the Company’s long-term debt exceeded the carrying value by $1.5 billion, as estimated using quoted market prices (a Level 2 measurement under applicable accounting standards). At June 30, 2021, the Company had lines of credit, including the accounts receivable securitization programs described below, totaling $11.9 billion, of which $8.6 billion was unused. Of the Company’s total lines of credit, $6.5 billion supported the combined U.S. and European commercial paper borrowing programs, against which there was $0.6 billion commercial paper outstanding at June 30, 2021. The Company has accounts receivable securitization programs (the “Programs”). The Programs provide the Company with up to $2.0 billion in funding resulting from the sale of accounts receivable with no unused capacity as of June 30, 2021 (see Note 15 for more information about the Programs).

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rates for the three and six months ended June 30, 2021 were 13.7% and 14.8%, respectively, compared to 14.5% and 6.9% for the three and six months ended June 30, 2020, respectively. The change in the rate for the three months ended June 30, 2021 compared to the same period in the prior year was driven primarily by certain favorable discrete tax items. The change in the rate for the six months ended June 30, 2021 compared to the same prior period in the prior year was primarily due to the impact of U.S. tax credits signed into law in December 2019, including a $73 million discrete tax benefit related to 45G railroad maintenance expenses. The Company is subject to income taxation and routine examinations in many jurisdictions around the world and frequently faces challenges regarding the amount of taxes due. These challenges include positions taken by the Company related to the timing, nature, and amount of deductions and the allocation of income among various tax jurisdictions. In its routine evaluations of the exposure associated with various tax filing positions, the Company recognizes a liability, when necessary, for estimated potential tax owed by the Company in accordance with applicable accounting standards. Resolution of the related tax positions, through negotiations with relevant tax authorities or through litigation, may take years to complete. Therefore, it is difficult to predict the timing for resolution of tax positions and the Company cannot predict or provide assurance as to the ultimate outcome of these ongoing or future examinations. However, the Company does not anticipate that the total amount of unrecognized tax benefits will increase or decrease significantly in the next twelve months. Given the long periods of time involved in resolving tax positions, the Company does not expect that the recognition of unrecognized tax benefits will have a material impact on the Company’s effective income tax rate in any given period. The Company’s subsidiary in Argentina, ADM Agro SRL (formerly ADM Argentina SA and Alfred C. Toepfer Argentina SRL), received tax assessments challenging transfer prices used to price grain exports for the tax years 1999 through 2011. As of June 30, 2021, these assessments totaled $9 million in tax and $39 million in interest (adjusted for variation in currency exchange rates). The Argentine tax authorities conducted a review of income and other taxes paid by large exporters and processors of cereals and other agricultural commodities resulting in allegations of income tax evasion. The Company believes that it has complied with all Argentine tax laws. To date, the Company has not received assessments for closed years subsequent to 2011. While the statute of limitations has expired for tax years 2012 and 2013, the Company cannot rule out receiving additional assessments challenging transfer prices used to price grain exports for years subsequent to 2013, and estimates that these potential assessments could be approximately $64 million in tax and $30 million in interest (adjusted for variation in currency exchange rates as of June 30, 2021). In the second quarter of 2021, Argentine tax authorities initiated criminal tax proceedings related to the Argentine tax matters. The Company believes that it has appropriately evaluated the transactions underlying these assessments, and has concluded, based on Argentine tax law, that its tax position would be sustained, and accordingly, has not recorded a tax liability for these assessments. In accordance with the accounting requirements for uncertain tax positions, the Company has not recorded an uncertain tax liability for this assessment because it has concluded that it is more likely than not to prevail on the matter based upon its technical merits and because the taxing jurisdiction’s process does not provide a mechanism for settling at less than the full amount of the assessment. The Company intends to vigorously defend its position against the current assessments and any similar assessments that may be issued for years subsequent to 2013. In 2014, the Company’s wholly-owned subsidiary in the Netherlands, ADM Europe B.V., received a tax assessment from the Netherlands tax authority challenging the transfer pricing aspects of a 2009 business reorganization, which involved two of its subsidiary companies in the Netherlands. As of June 30, 2021, this assessment was $96 million in tax and $34 million in interest (adjusted for variation in currency exchange rates). In September 2019, the Company received an interim decision on its appeal which directed the parties to work toward a settlement. On April 23, 2020, the court issued an unfavorable ruling and in October 2020, assigned a third party expert to establish a valuation by early 2021. During the second quarter of 2021, the third party expert issued a final valuation. The Company expects the court to issue a ruling on this matter in the third quarter of 2021. Subsequent appeals may take an extended period of time and could result in additional financial impacts of up to the entire amount of the assessment. The Company has carefully reviewed the valuation and evaluated the underlying transactions and has concluded that the amount of gain recognized on the reorganization for tax purposes was appropriate. As of June 30, 2021, the Company has accrued its best estimate of what it believes will be the likely outcome of the litigation and will vigorously defend its position against the assessment.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (AOCI)	6 Months Ended
	Jun. 30, 2021
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Accumulated Other Comprehensive Income (AOCI)	Accumulated Other Comprehensive Income The following tables set forth the changes in AOCI by component for the three and six months ended June 30, 2021 and the reclassifications out of AOCI for the three and six months ended June 30, 2021 and 2020: Three months ended June 30, 2021 Foreign Currency Translation Adjustment Deferred Gain (Loss) on Hedging Activities Pension Liability Adjustment Unrealized Gain (Loss) on Investments Total (In millions) Balance at March 31, 2021 $ (2,186) $ 261 $ (352) $ (1) $ (2,278) Other comprehensive income (loss) before reclassifications 99 320 (1) (1) 417 Gain (loss) on net investment hedges (64) — — — (64) Amounts reclassified from AOCI — (238) 72 — (166) Tax effect 8 (15) (22) (1) (30) Net of tax amount 43 67 49 (2) 157 Balance at June 30, 2021 $ (2,143) $ 328 $ (303) $ (3) $ (2,121) Six months ended June 30, 2021 Foreign Currency Translation Adjustment Deferred Gain (Loss) on Hedging Activities Pension Liability Adjustment Unrealized Gain (Loss) on Investments Total (In millions) Balance at December 31, 2020 $ (2,424) $ 185 $ (365) $ — $ (2,604) Other comprehensive income (loss) before reclassifications 163 496 7 (2) 664 Gain (loss) on net investment hedges 166 — — — 166 Amounts reclassified from AOCI — (313) 82 — (231) Tax effect (48) (40) (27) (1) (116) Net of tax amount 281 143 62 (3) 483 Balance at June 30, 2021 $ (2,143) $ 328 $ (303) $ (3) $ (2,121) Amount reclassified from AOCI Three months ended June 30, Six months ended June 30, Affected line item in the consolidated statements of earnings Details about AOCI components 2021 2020 2021 2020 (In millions) Deferred loss (gain) on hedging activities $ 1 $ 13 $ 15 $ 33 Revenues (239) 36 (328) 60 Cost of products sold — 8 — 8 Interest expense (238) 57 (313) 101 Total before tax 57 (10) 79 (14) Tax $ (181) $ 47 $ (234) $ 87 Net of tax Pension liability adjustment Amortization of defined benefit pension items: Prior service credit $ (61) $ (8) $ (67) $ (16) Other (income) expense-net Actuarial losses 133 13 149 21 Other (income) expense-net 72 5 82 5 Total before tax (22) — (26) (11) Tax $ 50 $ 5 $ 56 $ (6) Net of tax The Company’s accounting policy is to release the income tax effects from AOCI when the individual units of account are sold, terminated, or extinguished.

Other (Income) Expense - Net

Other (Income) Expense - Net	6 Months Ended
	Jun. 30, 2021
Other Income and Expenses [Abstract]
Other (Income) Expense - Net	Other (Income) Expense - Net The following table sets forth the items in other (income) expense: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 (In millions) Gains on sales of assets $ (28) $ (53) $ (39) $ (45) Early debt retirement charges — 14 — 14 Pension settlement 82 — 82 — Other – net (5) (17) (27) (49) Other (Income) Expense - Net $ 49 $ (56) $ 16 $ (80) Gains on sales of assets in all periods presented consisted of gains on the sale of certain assets and disposals of individually insignificant assets in the ordinary course of business. Early debt retirement charges in the prior period were related to the make-whole call provision on a bond. Pension settlement in the three and six months ended June 30, 2021 was related to the purchase of group annuity contracts that irrevocably transferred the future benefit obligations and annuity administration for certain salaried and hourly retirees and terminated vested participants under the Company’s ADM Retirement Plan and ADM Pension Plan for Hourly-Wage Employees to independent third parties.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information The Company’s operations are organized, managed, and classified into three reportable business segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition. Each of these segments is organized based upon the nature of products and services offered. The Company’s remaining operations are not reportable segments, as defined by the applicable accounting standard , and are classified as Other Business. The Ag Services and Oilseeds segment includes global activities related to the origination, merchandising, transportation, and storage of agricultural raw materials, and the crushing and further processing of oilseeds such as soybeans and soft seeds (cottonseed, sunflower seed, canola, rapeseed, and flaxseed) into vegetable oils and protein meals. Oilseeds products produced and marketed by the segment include ingredients for food, feed, energy, and industrial customers. Crude vegetable oils produced by the segment’s crushing activities are sold “as is” to manufacturers of renewable green diesel and other customers or are further processed by refining, blending, bleaching, and deodorizing into salad oils. Salad oils are sold “as is” or are further processed by hydrogenating and/or interesterifying into margarine, shortening, and other food products. Partially refined oils are used to produce biodiesel and glycols or are sold to other manufacturers for use in chemicals, paints, and other industrial products. Oilseed protein meals are principally sold to third parties to be used as ingredients in commercial livestock and poultry feeds. The Ag Services and Oilseeds segment is also a major supplier of peanuts and peanut-derived ingredients to both the U.S. and export markets. In North America, cotton cellulose pulp is manufactured and sold to the chemical, paper, and other industrial markets. The Ag Services and Oilseeds segment’s grain sourcing, handling, and transportation network (including barge, ocean-going vessel, truck, rail, and container freight services) provides reliable and efficient services to the Company’s customers and agricultural processing operations. The Ag Services and Oilseeds segment also includes agricultural commodity and feed product import, export, and global distribution, and structured trade finance activities. Structured trade finance’s activities include programs under which ADM prepays financial institutions, on a discounted basis, U.S. dollar-denominated letters of credit based on underlying commodity trade flows. The segment also includes the Company’s share of the results of its equity investment in Wilmar International Limited (Wilmar) and its share of the results of its Pacificor, Stratas Foods LLC, Edible Oils Limited, Olenex Sarl, and SoyVen joint ventures. The Carbohydrate Solutions segment is engaged in corn and wheat wet and dry milling and other activities. The Carbohydrate Solutions segment converts corn and wheat into products and ingredients used in the food and beverage industry including sweeteners, corn and wheat starches, syrup, glucose, wheat flour, and dextrose. Dextrose and starch are used by the Carbohydrate Solutions segment as feedstocks in other downstream processes. By fermentation of dextrose, the Carbohydrate Solutions segment produces alcohol and other food and animal feed ingredients. Ethyl alcohol is produced by the Company for industrial use in products such as hand sanitizers, as ethanol, or as beverage grade. Ethanol, in gasoline, increases octane and is used as an extender and oxygenate. Corn gluten feed and meal, as well as distillers’ grains, are produced for use as animal feed ingredients. Corn germ, a by-product of the wet milling process, is further processed into vegetable oil and protein meal. Other Carbohydrate Solutions products include citric acids which are used in various food and industrial products. The Carbohydrate Solutions segment also includes the Illinois Basin Carbon Sequestration - Decatur project which takes carbon dioxide emissions from its Decatur, IL corn operations and sequesters it into the ground. The segment also includes the Company’s share of the results of its equity investments in Hungrana Ltd., Almidones Mexicanos S.A., Red Star Yeast Company, LLC, and Aston Foods and Food Ingredients. The Nutrition segment serves various end markets including food, beverages, nutritional supplements, and feed and premix for livestock, aquaculture, and pet food. The segment engages in the manufacturing, sale, and distribution of a wide array of ingredients and solutions including plant-based proteins, natural flavors, flavor systems, natural colors, emulsifiers, soluble fiber, polyols, hydrocolloids, probiotics, prebiotics, enzymes, botanical extracts, and other specialty food and feed ingredients. The Nutrition segment includes the activities related to the procurement, processing, and distribution of edible beans. The segment also includes activities related to the processing and distribution of formula feeds and animal health and nutrition products and the manufacture of contract and private label pet treats and foods. Other Business includes the Company’s financial business units related to futures commission and insurance activities. Intersegment sales have been recorded at amounts approximating market. Operating profit for each segment is based on net sales less identifiable operating expenses. Also included in operating profit for each segment is equity in earnings of affiliates based on the equity method of accounting. Specified items included in total segment operating profit and certain corporate items are not allocated to the Company’s individual business segments because operating performance of each business segment is evaluated by management exclusive of these items. Corporate results principally include the impact of LIFO-related adjustments, unallocated corporate expenses, and interest expense net of interest income. Corporate results also include revaluation gains and losses on cost method investments and the share of the results of equity investments in early-stage start-up companies that ADM Ventures has investments in. Three Months Ended Six Months Ended June 30, June 30, (In millions) 2021 2020 2021 2020 Gross revenues Ag Services and Oilseeds $ 18,799 $ 14,431 $ 34,738 $ 26,781 Carbohydrate Solutions 3,271 2,213 5,905 4,767 Nutrition 1,793 1,474 3,417 2,990 Other Business 102 89 202 193 Intersegment elimination (1,039) (1,926) (2,443) (3,480) Total gross revenues $ 22,926 $ 16,281 $ 41,819 $ 31,251 Intersegment sales Ag Services and Oilseeds $ 528 $ 1,690 $ 1,460 $ 2,961 Carbohydrate Solutions 451 199 862 437 Nutrition 60 37 121 82 Total intersegment sales $ 1,039 $ 1,926 $ 2,443 $ 3,480 Revenues from external customers Ag Services and Oilseeds Ag Services $ 12,815 $ 8,652 $ 22,961 $ 15,578 Crushing 2,827 2,405 5,569 4,718 Refined Products and Other 2,629 1,684 4,748 3,524 Total Ag Services and Oilseeds 18,271 12,741 33,278 23,820 Carbohydrate Solutions Starches and Sweeteners 1,846 1,545 3,591 3,195 Vantage Corn Processors 974 469 1,452 1,135 Total Carbohydrate Solutions 2,820 2,014 5,043 4,330 Nutrition Human Nutrition 848 723 1,602 1,442 Animal Nutrition 885 714 1,694 1,466 Total Nutrition 1,733 1,437 3,296 2,908 Other Business 102 89 202 193 Total revenues from external customers $ 22,926 $ 16,281 $ 41,819 $ 31,251 Three Months Ended Six Months Ended June 30, June 30, (In millions) 2021 2020 2021 2020 Segment operating profit Ag Services and Oilseeds $ 570 $ 413 $ 1,347 $ 835 Carbohydrate Solutions 383 195 642 263 Nutrition 201 158 355 300 Other Business 6 38 15 49 Specified Items: Gains (losses) on sales of assets and businesses (1) 22 23 22 23 Impairment, restructuring, and settlement charges (2) (37) (14) (131) (58) Total segment operating profit 1,145 813 2,250 1,412 Corporate (320) (261) (601) (485) Earnings before income taxes $ 825 $ 552 $ 1,649 $ 927 (1) Consists of gains on the sale of certain assets in all periods presented. (2) Current quarter charges related to the impairment of certain long-lived assets and restructuring. Current year-to-date charges also included a legal settlement. Prior quarter and year-to-date charges related to the impairment of certain long-lived assets and restructuring.

Asset Impairment, Exit, and Res

Asset Impairment, Exit, and Restructuring Costs	6 Months Ended
	Jun. 30, 2021
Restructuring, Settlement and Impairment Provisions [Abstract]
Asset Impairment, Exit, and Restructuring Costs	Asset Impairment, Exit, and Restructuring Costs Asset impairment, exit, and restructuring costs in the three months ended June 30, 2021 consisted of $23 million of impairments related to certain long-lived assets and $1 million of restructuring charges, presented as specified items within segment operating profit, and a restructuring adjustment of $1 million in Corporate. Asset impairment, exit, and restructuring costs in the six months ended June 30, 2021 consisted of $54 million of impairments related to certain long-lived assets and $24 million of restructuring charges, presented as specified items within segment operating profit, and $4 million of restructuring charges in Corporate. Asset impairment, exit, and restructuring costs in the three months ended June 30, 2020 consisted of individually insignificant long-lived asset impairments of $3 million and restructuring charges of $13 million. Asset impairment, exit, and restructuring costs in the six months ended June 30, 2020 consisted of $47 million of impairments related to certain intangible and other long-lived assets and $10 million of restructuring charges.

Sale of Accounts Receivable

Sale of Accounts Receivable	6 Months Ended
	Jun. 30, 2021
Transfers and Servicing [Abstract]
Sale of Accounts Receivable	Sale of Accounts Receivable The Company has an accounts receivable securitization program (the “First Program”) with certain commercial paper conduit purchasers and committed purchasers (collectively, the “First Purchasers”). Under the First Program, certain U.S.-originated trade accounts receivable are sold to a wholly-owned bankruptcy-remote entity, ADM Receivables, LLC (“ADM Receivables”). Prior to October 1, 2020, ADM Receivables transferred such purchased accounts receivable in their entirety to the First Purchasers pursuant to a receivables purchase agreement. In exchange for the transfer of the accounts receivable, ADM Receivables received a cash payment up to a certain amount and an additional amount upon the collection of the accounts receivable (deferred consideration). On October 1, 2020, the Company restructured the First Program from a deferred purchase price to a pledge structure. Under the new structure, ADM Receivables transfers certain of the purchased accounts receivable to each of the First Purchasers together with a security interest in all of its right, title, and interest in the remaining purchased accounts receivable. In exchange, ADM Receivables receives a cash payment of up to $1.4 billion, an increase from $1.2 billion as of December 31, 2020, for the accounts receivable transferred. The First Program terminates on May 18, 2022, unless extended. The Company also has an accounts receivable securitization program (the “Second Program”) with certain commercial paper conduit purchasers and committed purchasers (collectively, the “Second Purchasers”). Under the Second Program, certain non-U.S.-originated trade accounts receivable are sold to a wholly-owned bankruptcy-remote entity, ADM Ireland Receivables Company (ADM Ireland Receivables). Prior to April 1, 2020, ADM Ireland Receivables transferred such purchased accounts receivable in their entirety to the Second Purchasers pursuant to a receivables purchase agreement. In exchange for the transfer of the accounts receivable, ADM Ireland Receivables received a cash payment up to a certain amount and an additional amount upon the collection of the accounts receivable (deferred consideration). On April 1, 2020, the Company restructured the Second Program from a deferred purchase price to a pledge structure. Under the new structure, ADM Ireland Receivables transfers certain of the purchased accounts receivable to each of the Second Purchasers together with a security interest in all of its right, title, and interest in the remaining purchased accounts receivable. In exchange, ADM Ireland Receivables receives a cash payment of up to $0.6 billion (€0.5 billion) for the accounts receivables transferred. The Second Program terminates on February 14, 2022, unless extended. Under the First and Second Programs (collectively, the “Programs”), ADM Receivables and ADM Ireland Receivables use the cash proceeds from the transfer of receivables to the First Purchasers and Second Purchasers (collectively, the “Purchasers”) and other consideration, as applicable, to finance the purchase of receivables from the Company and the ADM subsidiaries originating the receivables. The Company accounts for these transfers as sales. The Company has no retained interests in the transferred receivables, other than collection and administrative responsibilities. At June 30, 2021 and December 31, 2020, the Company did not record a servicing asset or liability related to its retained responsibility, based on its assessment of the servicing fee, market values for similar transactions, and its insignificant cost of servicing the receivables sold. As of June 30, 2021 and December 31, 2020, the fair value of trade receivables transferred to the Purchasers under the Programs and derecognized from the Company’s consolidated balance sheets was $2.0 billion and $1.6 billion, respectively. Total receivables sold were $24.8 billion and $16.8 billion for the six months ended June 30, 2021 and 2020, respectively. Cash collections from customers on receivables sold were $22.5 billion and $16.4 billion for the six months ended June 30, 2021 and 2020, respectively. Of the amount in the six months ended June 30, 2020, $4.6 billion were cash collections on the deferred receivables consideration reflected as cash inflows from investing activities for the six months ended June 30, 2020. As of June 30, 2021 and December 31, 2020, receivables pledged as collateral to the Purchasers were $0.6 billion and $0.4 billion, respectively. Under the Programs’ previous structure, the Company’s risk of loss following the transfer of accounts receivable was limited to the deferred receivables consideration outstanding. The Company carried the deferred receivables consideration at fair value determined by calculating the expected amount of cash to be received and was principally based on observable inputs (a Level 2 measurement under the applicable accounting standards) consisting mainly of the face amount of the receivables adjusted for anticipated credit losses and discounted at the appropriate market rate. Payment of deferred receivables consideration was not subject to significant risks other than delinquencies and credit losses on accounts receivable transferred under the Programs which had historically been insignificant. Transfers of receivables under the Programs resulted in an expense for the loss on sale of $2 million and $6 million for the three and six months ended June 30, 2021, respectively, and $3 million and $5 million for the three and six months ended June 30, 2020, respectively, which is classified as selling, general, and administrative expenses in the consolidated statements of earnings. In accordance with the amended guidance of Topic 230, the Company reflected cash flows related to the deferred receivables consideration as investing activities in its consolidated statements of cash flows. All other cash flows are classified as operating activities because the cash received from the Purchasers upon both the sale and collection of the receivables is not subject to significant interest rate risk given the short-term nature of the Company’s trade receivables.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Subsequent Event On July 26, 2021, the Company announced that it has reached an agreement to acquire Sojaprotein, a leading European provider of non-GMO soy ingredients. The acquisition is subject to regulatory approvals.

Revenues Revenues (Policies)

Revenues Revenues (Policies)	6 Months Ended
	Jun. 30, 2021
Revenues [Abstract]
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition The Company principally generates revenue from merchandising and transporting agricultural commodities, and manufactured products for use in food, beverages, feed, energy, and industrial applications, and ingredients and solutions for human and animal nutrition. Revenue is measured based on the consideration specified in the contract with a customer, and excludes any sales incentives and amounts collected on behalf of third parties. The Company follows a policy of recognizing revenue at a single point in time when it satisfies its performance obligation by transferring control over a product or service to a customer. The majority of the Company’s contracts with customers have one performance obligation and a contract duration of one year or less. The Company applies the practical expedient in paragraph 10-50-14 of ASC 606, Revenue from Contracts with Customers (Topic 606) and does not disclose information about remaining performance obligations that have original expected durations of one year or less. For transportation service contracts, the Company recognizes revenue over time as the barge, ocean-going vessel, truck, rail, or container freight moves towards its destination in accordance with the transfer of control guidance of Topic 606. The Company recognized revenue from transportation service contracts of $151 million and $255 million for the three and six months ended June 30, 2021, respectively, and $106 million and $223 million for the three and six months ended June 30, 2020, respectively. For physically settled derivative sales contracts that are outside the scope of Topic 606, the Company recognizes revenue when control of the inventory is transferred within the meaning of Topic 606 as required by ASC 610-20, Gains and Losses from the Derecognition of Nonfinancial Assets (Topic 610-20). Shipping and Handling Costs Shipping and handling costs related to contracts with customers for the sale of goods are accounted for as a fulfillment activity and are included in cost of products sold. Accordingly, amounts billed to customers for such costs are included as a component of revenues. Taxes Collected from Customers and Remitted to Governmental Authorities The Company does not include taxes assessed by governmental authorities that are (i) imposed on and concurrent with a specific revenue-producing transaction and (ii) collected from customers, in the measurement of transactions prices or as a component of revenues and cost of products sold.

Revenues Revenues (Tables)

Revenues Revenues (Tables)	6 Months Ended
	Jun. 30, 2021
Revenues [Abstract]
Disaggregation of Revenue [Table Text Block]	Disaggregation of Revenues The following tables present revenue disaggregated by timing of recognition and major product lines for the three and six months ended June 30, 2021 and 2020. Three Months Ended June 30, 2021 Topic 606 Revenue Topic 815 (1) Total Point in Time Over Time Total Revenue Revenues (In millions) Ag Services and Oilseeds Ag Services $ 802 $ 151 $ 953 $ 11,862 $ 12,815 Crushing 92 — 92 2,735 2,827 Refined Products and Other 659 — 659 1,970 2,629 Total Ag Services and Oilseeds 1,553 151 1,704 16,567 18,271 Carbohydrate Solutions Starches and Sweeteners 1,449 — 1,449 397 1,846 Vantage Corn Processors 974 — 974 — 974 Total Carbohydrate Solutions 2,423 — 2,423 397 2,820 Nutrition Human Nutrition 848 — 848 — 848 Animal Nutrition 885 — 885 — 885 Total Nutrition 1,733 — 1,733 — 1,733 Other Business 102 — 102 — 102 Total Revenues $ 5,811 $ 151 $ 5,962 $ 16,964 $ 22,926 Six Months Ended June 30, 2021 Topic 606 Revenue Topic 815 (1) Total Point in Time Over Time Total Revenue Revenues (In millions) Ag Services and Oilseeds Ag Services $ 1,464 $ 255 $ 1,719 $ 21,242 $ 22,961 Crushing 216 — 216 5,353 5,569 Refined Products and Other 1,171 — 1,171 3,577 4,748 Total Ag Services and Oilseeds 2,851 255 3,106 30,172 33,278 Carbohydrate Solutions Starches and Sweeteners 2,810 — 2,810 781 3,591 Vantage Corn Processors 1,452 — 1,452 — 1,452 Total Carbohydrate Solutions 4,262 — 4,262 781 5,043 Nutrition Human Nutrition 1,602 — 1,602 — 1,602 Animal Nutrition 1,694 — 1,694 — 1,694 Total Nutrition 3,296 — 3,296 — 3,296 Other Business 202 — 202 — 202 Total Revenues $ 10,611 $ 255 $ 10,866 $ 30,953 $ 41,819 Three Months Ended June 30, 2020 Topic 606 Revenue Topic 815 (1) Total Point in Time Over Time Total Revenue Revenues (In millions) Ag Services and Oilseeds Ag Services $ 877 $ 106 $ 983 $ 7,669 $ 8,652 Crushing 200 — 200 2,205 2,405 Refined Products and Other 521 — 521 1,163 1,684 Total Ag Services and Oilseeds 1,598 106 1,704 11,037 12,741 Carbohydrate Solutions Starches and Sweeteners 1,137 — 1,137 408 1,545 Vantage Corn Processors 469 — 469 — 469 Total Carbohydrate Solutions 1,606 — 1,606 408 2,014 Nutrition Human Nutrition 723 — 723 — 723 Animal Nutrition 714 — 714 — 714 Total Nutrition 1,437 — 1,437 — 1,437 Other Business 89 — 89 — 89 Total Revenues $ 4,730 $ 106 $ 4,836 $ 11,445 $ 16,281 Six Months Ended June 30, 2020 Topic 606 Revenue Topic 815 (1) Total Point in Time Over Time Total Revenue Revenues (In millions) Ag Services and Oilseeds Ag Services $ 1,728 $ 223 $ 1,951 $ 13,627 $ 15,578 Crushing 380 — 380 4,338 4,718 Refined Products and Other 1,039 — 1,039 2,485 3,524 Total Ag Services and Oilseeds 3,147 223 3,370 20,450 23,820 Carbohydrate Solutions Starches and Sweeteners 2,377 — 2,377 818 3,195 Vantage Corn Processors 1,135 — 1,135 — 1,135 Total Carbohydrate Solutions 3,512 — 3,512 818 4,330 Nutrition Human Nutrition 1,442 — 1,442 — 1,442 Animal Nutrition 1,466 — 1,466 — 1,466 Total Nutrition 2,908 — 2,908 — 2,908 Other Business 193 — 193 — 193 Total Revenues $ 9,760 $ 223 $ 9,983 $ 21,268 $ 31,251

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The following tables set forth, by level, the Company’s assets and liabilities that were accounted for at fair value on a recurring basis as of June 30, 2021 and December 31, 2020. Fair Value Measurements at June 30, 2021 Quoted Prices in Significant Significant Total (In millions) Assets: Inventories carried at market $ — $ 4,698 $ 2,824 $ 7,522 Unrealized derivative gains: Commodity contracts — 1,317 551 1,868 Foreign currency contracts — 324 — 324 Interest rate contracts — 89 — 89 Cash equivalents 332 — — 332 Segregated investments 1,001 — — 1,001 Total Assets $ 1,333 $ 6,428 $ 3,375 $ 11,136 Liabilities: Unrealized derivative losses: Commodity contracts $ — $ 892 $ 1,037 $ 1,929 Foreign currency contracts — 252 — 252 Interest rate contracts — 1 — 1 Debt conversion option — — 24 24 Inventory-related payables — 568 38 606 Total Liabilities $ — $ 1,713 $ 1,099 $ 2,812 Fair Value Measurements at December 31, 2020 Significant Significant Total (In millions) Assets: Inventories carried at market $ — $ 5,758 $ 2,183 $ 7,941 Unrealized derivative gains: Commodity contracts — 1,905 859 2,764 Foreign currency contracts — 283 — 283 Interest rate contracts — 61 — 61 Cash equivalents 297 — — 297 Marketable securities 1 — — 1 Segregated investments 1,067 — — 1,067 Total Assets $ 1,365 $ 8,007 $ 3,042 $ 12,414 Liabilities: Unrealized derivative losses: Commodity contracts $ — $ 1,116 $ 918 $ 2,034 Foreign currency contracts — 535 — 535 Interest rate contracts — 15 — 15 Debt conversion option — — 34 34 Inventory-related payables — 498 11 509 Total Liabilities $ — $ 2,164 $ 963 $ 3,127
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	The following table presents a rollforward of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended June 30, 2021. Level 3 Fair Value Asset Measurements at June 30, 2021 Inventories Commodity Total Assets (In millions) Balance, March 31, 2021 $ 3,070 $ 684 $ 3,754 Total increase (decrease) in net realized/unrealized gains included in cost of products sold* 75 273 348 Purchases 7,163 — 7,163 Sales (7,356) — (7,356) Settlements — (395) (395) Transfers into Level 3 410 22 432 Transfers out of Level 3 (538) (33) (571) Ending balance, June 30, 2021 $ 2,824 $ 551 $ 3,375 * Includes increase in unrealized gains of $380 million relating to Level 3 assets still held at June 30, 2021. The following table presents a rollforward of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended June 30, 2020. Level 3 Fair Value Asset Measurements at June 30, 2020 Inventories Commodity Total Assets (In millions) Balance, March 31, 2020 $ 1,938 $ 391 $ 2,329 Total increase (decrease) in net realized/unrealized gains included in cost of products sold* 279 229 508 Purchases 3,012 — 3,012 Sales (3,625) — (3,625) Settlements — (190) (190) Transfers into Level 3 306 23 329 Transfers out of Level 3 (511) (11) (522) Ending balance, June 30, 2020 $ 1,399 $ 442 $ 1,841 * Includes increase in unrealized gains of $422 million relating to Level 3 assets still held at June 30, 2020. The following table presents a rollforward of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the six months ended June 30, 2021. Level 3 Fair Value Asset Measurements at June 30, 2021 Inventories Commodity Total Assets (In millions) Balance, December 31, 2020 $ 2,183 $ 859 $ 3,042 Total increase (decrease) in net realized/unrealized gains included in cost of products sold* 805 516 1,321 Purchases 13,548 — 13,548 Sales (13,988) — (13,988) Settlements — (823) (823) Transfers into Level 3 926 45 971 Transfers out of Level 3 (650) (46) (696) Ending balance, June 30, 2021 $ 2,824 $ 551 $ 3,375 * Includes increase in unrealized gains of $1.2 billion relating to Level 3 assets still held at June 30, 2021. The following table presents a rollforward of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the six months ended June 30, 2020. Level 3 Fair Value Asset Measurements at June 30, 2020 Inventories Commodity Total Assets (In millions) Balance, December 31, 2019 $ 1,477 $ 201 $ 1,678 Total increase (decrease) in net realized/unrealized gains included in cost of products sold* 396 446 842 Purchases 6,419 — 6,419 Sales (7,135) — (7,135) Settlements — (235) (235) Transfers into Level 3 306 44 350 Transfers out of Level 3 (64) (14) (78) Ending balance, June 30, 2020 $ 1,399 $ 442 $ 1,841 * Includes increase in unrealized gains of $804 million relating to Level 3 assets still held at June 30, 2020.
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	The following table presents a rollforward of liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended June 30, 2021. Level 3 Fair Value Liability Measurements at June 30, 2021 Inventory- Commodity Foreign Currency Derivative Contracts Losses Debt Conversion Option Total Liabilities (In millions) Balance, March 31, 2021 $ 21 $ 648 $ 11 $ 54 $ 734 Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense* — 681 — (30) 651 Purchases 17 — — — 17 Settlements — (447) — — (447) Transfers into Level 3 — 170 — — 170 Transfers out of Level 3 — (15) (11) — (26) Ending balance, June 30, 2021 $ 38 $ 1,037 $ — $ 24 $ 1,099 * Includes increase in unrealized losses of $683 million relating to Level 3 liabilities still held at June 30, 2021. The following table presents a rollforward of liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended June 30, 2020. Level 3 Fair Value Liability Measurements at June 30, 2020 Inventory- Commodity Total Liabilities (In millions) Balance, March 31, 2020 $ 20 $ 309 $ 329 Total increase (decrease) in net realized/unrealized losses included in cost of products sold* 1 247 248 Purchases 2 — 2 Sales (9) — (9) Settlements — (211) (211) Transfers into Level 3 — 19 19 Transfers out of Level 3 — (1) (1) Ending balance, June 30, 2020 $ 14 $ 363 $ 377 * Includes increase in unrealized losses of $253 million relating to Level 3 liabilities still held at June 30, 2020. The following table presents a rollforward of liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the six months ended June 30, 2021. Level 3 Fair Value Liability Measurements at June 30, 2021 Inventory- Commodity Foreign Currency Derivative Contracts Losses Debt Conversion Option Total Liabilities (In millions) Balance, December 31, 2020 $ 11 $ 918 $ — $ 34 $ 963 Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense* — 1,062 — (10) 1,052 Purchase 29 — — — 29 Sales (2) — — — (2) Settlements — (1,013) — — (1,013) Transfers into Level 3 — 224 11 — 235 Transfers out of Level 3 — (154) (11) — (165) Ending balance, June 30, 2021 $ 38 $ 1,037 $ — $ 24 $ 1,099 * Includes increase in unrealized losses of $1.1 billion relating to Level 3 liabilities still held at June 30, 2021. The following table presents a rollforward of liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the six months ended June 30, 2020. Level 3 Fair Value Liability Measurements at June 30, 2020 Inventory- Commodity Total Liabilities (In millions) Balance, December 31, 2019 $ 27 $ 199 $ 226 Total increase (decrease) in net realized/unrealized losses included in cost of products sold* 4 452 456 Purchases 8 — 8 Sales (25) — (25) Settlements — (333) (333) Transfers into Level 3 — 55 55 Transfers out of Level 3 — (10) (10) Ending balance, June 30, 2020 $ 14 $ 363 $ 377 * Includes increase in unrealized losses of $463 million relating to Level 3 liabilities still held at June 30, 2020.
Unobservable Price Components Present in the Level 3 Valuations of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following table sets forth the weighted average percentage of the unobservable price components included in the Company’s Level 3 valuations as of June 30, 2021 and December 31, 2020. The Company’s Level 3 measurements may include basis only, transportation cost only, or both price components. As an example, for Level 3 inventories with basis, the unobservable component as of June 30, 2021 is a weighted average 30.2% of the total price for assets and 16.2% of the total price for liabilities. Weighted Average % of Total Price June 30, 2021 December 31, 2020 Component Type Assets Liabilities Assets Liabilities Inventories and Related Payables Basis 30.2 % 16.2 % 4.3 % 13.7 % Transportation cost 12.5 % — % 10.6 % — % Commodity Derivative Contracts Basis 29.5 % 39.6 % 28.3 % 0.7 % Transportation cost 3.3 % 3.0 % 1.9 % 1.3 %

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]	The following table sets forth the fair value of derivatives not designated as hedging instruments as of June 30, 2021 and December 31, 2020. June 30, 2021 December 31, 2020 Assets Liabilities Assets Liabilities (In millions) Foreign Currency Contracts $ 324 $ 74 $ 283 $ 270 Commodity Contracts 1,868 1,929 2,764 2,034 Debt Conversion Option — 24 — 34 Total $ 2,192 $ 2,027 $ 3,047 $ 2,338 The following tables set forth the pre-tax gains (losses) on derivatives not designated as hedging instruments that have been included in the consolidated statements of earnings for the three and six months ended June 30, 2021 and 2020. Other expense (income) - net Cost of Interest (In millions) Revenues products sold expense Three Months Ended June 30, 2021 Consolidated Statement of Earnings $ 22,926 $ 21,463 $ 49 $ 40 Pre-tax gains (losses) on: Foreign Currency Contracts $ (43) $ 214 $ (45) $ — Commodity Contracts — (673) — — Debt Conversion Option — — — 30 Total gain (loss) recognized in earnings $ (43) $ (459) $ (45) $ 30 $ (517) Three Months Ended June 30, 2020 Consolidated Statement of Earnings $ 16,281 $ 15,173 $ (56) $ 87 Pre-tax gains (losses) on: Foreign Currency Contracts $ 11 $ (76) $ (52) $ — Commodity Contracts — (29) — — Total gain (loss) recognized in earnings $ 11 $ (105) $ (52) $ — $ (146) Other expense (income) - net Cost of Interest (In millions) Revenues products sold expense Six Months Ended June 30, 2021 Consolidated Statement of Earnings $ 41,819 $ 38,808 $ 16 $ 127 Pre-tax gains (losses) on: Foreign Currency Contracts $ (13) $ (48) $ 75 $ — Commodity Contracts — (1,455) — — Debt Conversion Option — — — 10 Total gain (loss) recognized in earnings $ (13) $ (1,503) $ 75 $ 10 $ (1,431) Six Months Ended June 30, 2020 Consolidated Statement of Earnings $ 31,251 $ 29,192 $ (80) $ 170 Pre-tax gains (losses) on: Foreign Currency Contracts $ 46 $ (661) $ 72 $ — Commodity Contracts — 593 55 — Total gain (loss) recognized in earnings $ 46 $ (68) $ 127 $ — $ 105 The following table sets forth the fair value of derivatives designated as hedging instruments as of June 30, 2021 and December 31, 2020. June 30, 2021 December 31, 2020 Assets Liabilities Assets Liabilities (In millions) Foreign Currency Contracts $ — $ 178 $ — $ 265 Interest Rate Contracts 89 1 61 15 Total $ 89 $ 179 $ 61 $ 280 The following table sets forth the pre-tax gains (losses) on derivatives designated as hedging instruments that have been included in the consolidated statements of earnings for the three and six months ended June 30, 2021 and 2020. Cost of products sold Interest expense (In millions) Revenues Three Months Ended June 30, 2021 Consolidated Statement of Earnings $ 22,926 $ 21,463 $ 40 Effective amounts recognized in earnings Pre-tax gains (losses) on: Commodity Contracts $ — $ 239 $ — Interest Contracts (1) — — Total gain (loss) recognized in earnings $ (1) $ 239 $ — $ 238 Three Months Ended June 30, 2020 Consolidated Statement of Earnings $ 16,281 $ 15,173 $ 87 Effective amounts recognized in earnings Pre-tax gains (losses) on: Commodity Contracts $ 3 $ (36) $ — Interest Contracts (16) — (8) Total gain (loss) recognized in earnings $ (13) $ (36) $ (8) $ (57) Cost of products sold Interest expense (In millions) Revenues Six Months Ended June 30, 2021 Consolidated Statement of Earnings $ 41,819 $ 38,808 $ 127 Effective amounts recognized in earnings Pre-tax gains (losses) on: Commodity Contracts $ — $ 328 $ — Interest Contracts (15) — — Total gain (loss) recognized in earnings $ (15) $ 328 $ — $ 313 Six Months Ended June 30, 2020 Consolidated Statement of Earnings $ 31,251 $ 29,192 $ 170 Effective amounts recognized in earnings Pre-tax gains (losses) on: Commodity Contracts $ 8 $ (60) $ — Interest Contracts (41) — (8) Total gain (loss) recognized in earnings $ (33) $ (60) $ (8) $ (101)

Other Current Assets (Tables)

Other Current Assets (Tables)	6 Months Ended
	Jun. 30, 2021
Other Assets [Abstract]
Other Current Assets	The following table sets forth the items in other current assets: June 30, December 31, 2021 2020 (In millions) Unrealized gains on derivative contracts $ 2,281 $ 3,108 Margin deposits and grain accounts 609 500 Customer omnibus receivable 1,038 860 Financing receivables - net (1) 142 297 Insurance premiums receivable 64 35 Prepaid expenses 361 290 Biodiesel tax credit 99 101 Tax receivables 578 680 Non-trade receivables (2) 294 218 Other current assets 131 135 $ 5,597 $ 6,224 (1) The Company provides financing to certain suppliers, primarily Brazilian farmers, to finance a portion of the suppliers’ production costs. The amounts are reported net of allowances of $4 million at June 30, 2021 and December 31, 2020. Interest earned on financing receivables of $2 million and $6 million for the three and six months ended June 30, 2021, respectively and $3 million and $11 million for the three and six months ended June 30, 2020, respectively, is included in interest income in the consolidated statements of earnings. (2) Non-trade receivables included $66 million and $40 million of reinsurance recoverables as of June 30, 2021 and December 31, 2020, respectively.

Accrued Expenses And Other Pa_2

Accrued Expenses And Other Payables (Tables)	6 Months Ended
	Jun. 30, 2021
Accrued Liabilities and Other Liabilities [Abstract]
Accrued Expenses And Other Payables	Accrued Expenses and Other Payables The following table sets forth the items in accrued expenses and other payables: June 30, December 31, 2021 2020 (In millions) Unrealized losses on derivative contracts $ 2,182 $ 2,584 Accrued compensation 397 396 Income tax payable 109 41 Other taxes payable 137 127 Biodiesel tax credit payable 3 5 Insurance claims payable 224 238 Contract liability 357 626 Other accruals and payables 1,070 926 $ 4,479 $ 4,943

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (AOCI) (Tables)	6 Months Ended
	Jun. 30, 2021
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The following tables set forth the changes in AOCI by component for the three and six months ended June 30, 2021 and the reclassifications out of AOCI for the three and six months ended June 30, 2021 and 2020: Three months ended June 30, 2021 Foreign Currency Translation Adjustment Deferred Gain (Loss) on Hedging Activities Pension Liability Adjustment Unrealized Gain (Loss) on Investments Total (In millions) Balance at March 31, 2021 $ (2,186) $ 261 $ (352) $ (1) $ (2,278) Other comprehensive income (loss) before reclassifications 99 320 (1) (1) 417 Gain (loss) on net investment hedges (64) — — — (64) Amounts reclassified from AOCI — (238) 72 — (166) Tax effect 8 (15) (22) (1) (30) Net of tax amount 43 67 49 (2) 157 Balance at June 30, 2021 $ (2,143) $ 328 $ (303) $ (3) $ (2,121) Six months ended June 30, 2021 Foreign Currency Translation Adjustment Deferred Gain (Loss) on Hedging Activities Pension Liability Adjustment Unrealized Gain (Loss) on Investments Total (In millions) Balance at December 31, 2020 $ (2,424) $ 185 $ (365) $ — $ (2,604) Other comprehensive income (loss) before reclassifications 163 496 7 (2) 664 Gain (loss) on net investment hedges 166 — — — 166 Amounts reclassified from AOCI — (313) 82 — (231) Tax effect (48) (40) (27) (1) (116) Net of tax amount 281 143 62 (3) 483 Balance at June 30, 2021 $ (2,143) $ 328 $ (303) $ (3) $ (2,121)
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Amount reclassified from AOCI Three months ended June 30, Six months ended June 30, Affected line item in the consolidated statements of earnings Details about AOCI components 2021 2020 2021 2020 (In millions) Deferred loss (gain) on hedging activities $ 1 $ 13 $ 15 $ 33 Revenues (239) 36 (328) 60 Cost of products sold — 8 — 8 Interest expense (238) 57 (313) 101 Total before tax 57 (10) 79 (14) Tax $ (181) $ 47 $ (234) $ 87 Net of tax Pension liability adjustment Amortization of defined benefit pension items: Prior service credit $ (61) $ (8) $ (67) $ (16) Other (income) expense-net Actuarial losses 133 13 149 21 Other (income) expense-net 72 5 82 5 Total before tax (22) — (26) (11) Tax $ 50 $ 5 $ 56 $ (6) Net of tax

Other (Income) Expense - Net (T

Other (Income) Expense - Net (Tables)	6 Months Ended
	Jun. 30, 2021
Other Income and Expenses [Abstract]
Other (Income) Expense - Net	The following table sets forth the items in other (income) expense: Three Months Ended Six Months Ended June 30, June 30, 2021 2020 2021 2020 (In millions) Gains on sales of assets $ (28) $ (53) $ (39) $ (45) Early debt retirement charges — 14 — 14 Pension settlement 82 — 82 — Other – net (5) (17) (27) (49) Other (Income) Expense - Net $ 49 $ (56) $ 16 $ (80)

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Segment Information	Three Months Ended Six Months Ended June 30, June 30, (In millions) 2021 2020 2021 2020 Gross revenues Ag Services and Oilseeds $ 18,799 $ 14,431 $ 34,738 $ 26,781 Carbohydrate Solutions 3,271 2,213 5,905 4,767 Nutrition 1,793 1,474 3,417 2,990 Other Business 102 89 202 193 Intersegment elimination (1,039) (1,926) (2,443) (3,480) Total gross revenues $ 22,926 $ 16,281 $ 41,819 $ 31,251 Intersegment sales Ag Services and Oilseeds $ 528 $ 1,690 $ 1,460 $ 2,961 Carbohydrate Solutions 451 199 862 437 Nutrition 60 37 121 82 Total intersegment sales $ 1,039 $ 1,926 $ 2,443 $ 3,480 Revenues from external customers Ag Services and Oilseeds Ag Services $ 12,815 $ 8,652 $ 22,961 $ 15,578 Crushing 2,827 2,405 5,569 4,718 Refined Products and Other 2,629 1,684 4,748 3,524 Total Ag Services and Oilseeds 18,271 12,741 33,278 23,820 Carbohydrate Solutions Starches and Sweeteners 1,846 1,545 3,591 3,195 Vantage Corn Processors 974 469 1,452 1,135 Total Carbohydrate Solutions 2,820 2,014 5,043 4,330 Nutrition Human Nutrition 848 723 1,602 1,442 Animal Nutrition 885 714 1,694 1,466 Total Nutrition 1,733 1,437 3,296 2,908 Other Business 102 89 202 193 Total revenues from external customers $ 22,926 $ 16,281 $ 41,819 $ 31,251 Three Months Ended Six Months Ended June 30, June 30, (In millions) 2021 2020 2021 2020 Segment operating profit Ag Services and Oilseeds $ 570 $ 413 $ 1,347 $ 835 Carbohydrate Solutions 383 195 642 263 Nutrition 201 158 355 300 Other Business 6 38 15 49 Specified Items: Gains (losses) on sales of assets and businesses (1) 22 23 22 23 Impairment, restructuring, and settlement charges (2) (37) (14) (131) (58) Total segment operating profit 1,145 813 2,250 1,412 Corporate (320) (261) (601) (485) Earnings before income taxes $ 825 $ 552 $ 1,649 $ 927 (1) Consists of gains on the sale of certain assets in all periods presented. (2) Current quarter charges related to the impairment of certain long-lived assets and restructuring. Current year-to-date charges also included a legal settlement. Prior quarter and year-to-date charges related to the impairment of certain long-lived assets and restructuring.

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount	$ 86		$ 86			$ 100
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense	4	$ 14	8	$ 25
Percentage of LIFO Inventory								10.00%
Cost of Revenue	(21,463)	(15,173)	(38,808)	(29,192)
Net Income (Loss) Attributable to Parent	$ 712	$ 469	$ 1,401	$ 860
Earnings Per Share, Diluted	$ 1.26	$ 0.84	$ 2.48	$ 1.53
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ (21,603)	$ (19,311)	$ (21,603)	$ (19,311)	$ (20,861)	(20,022)	$ (18,976)	$ (19,225)
Unrealized Gain (Loss) on Marketable Securities, Cost Method Investments, and Other Investments	40	11	40	19
Retained Earnings [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ (20,762)	$ (19,293)	$ (20,762)	(19,293)	$ (20,261)	$ (19,780)	$ (19,026)	(18,958)
Cumulative Effect, Period of Adoption, Adjustment [Member] | Retained Earnings [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest								$ 8
Change in Accounting Principle, Other [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of Revenue				91
Net Income (Loss) Attributable to Parent				$ 69
Earnings Per Share, Diluted				$ 0.12

New Accounting Standards New Ac

New Accounting Standards New Accounting Standards (Details) - USD ($) $ in Millions	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ (21,603)	$ (20,861)	$ (20,022)	$ (19,311)	$ (18,976)	$ (19,225)
Retained Earnings [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ (20,762)	$ (20,261)	$ (19,780)	$ (19,293)	$ (19,026)	(18,958)
Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest						$ 8

Revenues (Details)

Revenues (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 22,926	$ 16,281	$ 41,819	$ 31,251
Contract with Customer, Liability [Abstract]
Contract with Customer, Liability	357		357		$ 626
Change in Contract with Customer, Liability [Abstract]
Contract with Customer, Liability, Revenue Recognized	287	339	569	621
Ag Services and Oilseeds [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	18,271	12,741	33,278	23,820
Ag Services [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	12,815	8,652	22,961	15,578
Crushing [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	2,827	2,405	5,569	4,718
Refined Products and Other [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	2,629	1,684	4,748	3,524
Carbohydrate Solutions [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	2,820	2,014	5,043	4,330
Starches and sweeteners [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,846	1,545	3,591	3,195
VCP [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	974	469	1,452	1,135
Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,733	1,437	3,296	2,908
Human Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	848	723	1,602	1,442
Animal Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	885	714	1,694	1,466
Other [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	102	89	202	193
Non MTM Products and Services [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	5,962	4,836	10,866	9,983
Non MTM Products and Services [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	5,811	4,730	10,611	9,760
Non MTM Products and Services [Member] | Transferred over Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	151	106	255	223
Non MTM Products and Services [Member] | Ag Services and Oilseeds [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,704	1,704	3,106	3,370
Non MTM Products and Services [Member] | Ag Services and Oilseeds [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,553	1,598	2,851	3,147
Non MTM Products and Services [Member] | Ag Services and Oilseeds [Member] | Transferred over Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	151	106	255	223
Non MTM Products and Services [Member] | Ag Services [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	953	983	1,719	1,951
Non MTM Products and Services [Member] | Ag Services [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	802	877	1,464	1,728
Non MTM Products and Services [Member] | Ag Services [Member] | Transferred over Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	151	106	255	223
Non MTM Products and Services [Member] | Crushing [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	92	200	216	380
Non MTM Products and Services [Member] | Crushing [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	92	200	216	380
Non MTM Products and Services [Member] | Refined Products and Other [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	659	521	1,171	1,039
Non MTM Products and Services [Member] | Refined Products and Other [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	659	521	1,171	1,039
Non MTM Products and Services [Member] | Carbohydrate Solutions [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	2,423	1,606	4,262	3,512
Non MTM Products and Services [Member] | Carbohydrate Solutions [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	2,423	1,606	4,262	3,512
Non MTM Products and Services [Member] | Starches and sweeteners [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,449	1,137	2,810	2,377
Non MTM Products and Services [Member] | Starches and sweeteners [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,449	1,137	2,810	2,377
Non MTM Products and Services [Member] | VCP [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	974	469	1,452	1,135
Non MTM Products and Services [Member] | VCP [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	974	469	1,452	1,135
Non MTM Products and Services [Member] | Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,733	1,437	3,296	2,908
Non MTM Products and Services [Member] | Nutrition [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,733	1,437	3,296	2,908
Non MTM Products and Services [Member] | Human Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	848	723	1,602	1,442
Non MTM Products and Services [Member] | Human Nutrition [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	848	723	1,602	1,442
Non MTM Products and Services [Member] | Animal Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	885	714	1,694	1,466
Non MTM Products and Services [Member] | Animal Nutrition [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	885	714	1,694	1,466
Non MTM Products and Services [Member] | Other [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	102	89	202	193
Non MTM Products and Services [Member] | Other [Member] | Transferred at Point in Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	102	89	202	193
Mark-to-Market Products [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	16,964	11,445	30,953	21,268
Mark-to-Market Products [Member] | Ag Services and Oilseeds [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	16,567	11,037	30,172	20,450
Mark-to-Market Products [Member] | Ag Services [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	11,862	7,669	21,242	13,627
Mark-to-Market Products [Member] | Crushing [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	2,735	2,205	5,353	4,338
Mark-to-Market Products [Member] | Refined Products and Other [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,970	1,163	3,577	2,485
Mark-to-Market Products [Member] | Carbohydrate Solutions [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	397	408	781	818
Mark-to-Market Products [Member] | Starches and sweeteners [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 397	$ 408	$ 781	$ 818

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Fair Value Measurements [Line Items]
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss)	$ (683)	$ (253)	$ (1,100)	$ (463)
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)	$ 380	$ 422	$ 1,200	$ 804
Weighted Average [Member] | Fair Value, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Inventory Related Payables [Member]
Fair Value Measurements [Line Items]
Basis	16.20%		16.20%		13.70%
Weighted Average [Member] | Fair Value, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Inventories Carried At Market [Member]
Fair Value Measurements [Line Items]
Basis	30.20%		30.20%		4.30%

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Measurements At Reporting Date) (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Assets:
Derivative Asset	$ 2,281	$ 3,108
Liabilities:
Derivative Liability	2,182	2,584
Fair Value, Recurring [Member]
Assets:
Inventories carried at market	7,522	7,941
Cash Equivalents, at Carrying Value	332	297
Available-for-sale Securities, Fair Value Disclosure		1
Restricted Investments, at Fair Value	1,001	1,067
Total Assets	11,136	12,414
Liabilities:
Inventory-related payables	606	509
Total Liabilities	2,812	3,127
Fair Value, Recurring [Member] | Commodity Contracts [Member]
Assets:
Derivative Asset	1,868	2,764
Liabilities:
Derivative Liability	1,929	2,034
Fair Value, Recurring [Member] | Foreign Exchange Contracts [Member]
Assets:
Derivative Asset	324	283
Liabilities:
Derivative Liability	252	535
Fair Value, Recurring [Member] | Interest Rate Contracts [Member]
Assets:
Derivative Asset	89	61
Liabilities:
Derivative Liability	1	15
Fair Value, Recurring [Member] | Embedded Derivative Financial Instruments [Member]
Liabilities:
Derivative Liability	24	34
Fair Value, Recurring [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
Assets:
Inventories carried at market	0	0
Cash Equivalents, at Carrying Value	332	297
Available-for-sale Securities, Fair Value Disclosure		1
Restricted Investments, at Fair Value	1,001	1,067
Total Assets	1,333	1,365
Liabilities:
Inventory-related payables	0	0
Total Liabilities	0	0
Fair Value, Recurring [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | Commodity Contracts [Member]
Assets:
Derivative Asset	0	0
Liabilities:
Derivative Liability	0	0
Fair Value, Recurring [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | Foreign Exchange Contracts [Member]
Assets:
Derivative Asset	0	0
Liabilities:
Derivative Liability	0	0
Fair Value, Recurring [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | Interest Rate Contracts [Member]
Assets:
Derivative Asset	0	0
Liabilities:
Derivative Liability	0	0
Fair Value, Recurring [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | Embedded Derivative Financial Instruments [Member]
Liabilities:
Derivative Liability	0	0
Fair Value, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]
Assets:
Inventories carried at market	4,698	5,758
Cash Equivalents, at Carrying Value	0	0
Available-for-sale Securities, Fair Value Disclosure		0
Restricted Investments, at Fair Value	0	0
Total Assets	6,428	8,007
Liabilities:
Inventory-related payables	568	498
Total Liabilities	1,713	2,164
Fair Value, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Commodity Contracts [Member]
Assets:
Derivative Asset	1,317	1,905
Liabilities:
Derivative Liability	892	1,116
Fair Value, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Foreign Exchange Contracts [Member]
Assets:
Derivative Asset	324	283
Liabilities:
Derivative Liability	252	535
Fair Value, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Interest Rate Contracts [Member]
Assets:
Derivative Asset	89	61
Liabilities:
Derivative Liability	1	15
Fair Value, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Embedded Derivative Financial Instruments [Member]
Liabilities:
Derivative Liability	0	0
Fair Value, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
Assets:
Inventories carried at market	2,824	2,183
Cash Equivalents, at Carrying Value	0	0
Available-for-sale Securities, Fair Value Disclosure		0
Restricted Investments, at Fair Value	0	0
Total Assets	3,375	3,042
Liabilities:
Inventory-related payables	38	11
Total Liabilities	1,099	963
Fair Value, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Commodity Contracts [Member]
Assets:
Derivative Asset	551	859
Liabilities:
Derivative Liability	1,037	918
Fair Value, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Foreign Exchange Contracts [Member]
Assets:
Derivative Asset	0	0
Liabilities:
Derivative Liability	0	0
Fair Value, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Interest Rate Contracts [Member]
Assets:
Derivative Asset	0	0
Liabilities:
Derivative Liability	0	0
Fair Value, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Embedded Derivative Financial Instruments [Member]
Liabilities:
Derivative Liability	$ 24	$ 34

Fair Value Measurements (Reconc

Fair Value Measurements (Reconciliation Of Assets Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)	$ 380	$ 422	$ 1,200	$ 804
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	3,754	2,329	3,042	1,678
Total increase (decrease) in unrealized gains included in cost of products sold	348	508	1,321	842
Purchases	7,163	3,012	13,548	6,419
Sales	(7,356)	(3,625)	(13,988)	(7,135)
Settlements	(395)	(190)	(823)	(235)
Transfers into Level 3	432	329	971	350
Transfers out of Level 3	(571)	(522)	(696)	(78)
Balance at end of period	3,375	1,841	3,375	1,841
Significant Unobservable Inputs (Level 3) [Member] | Inventories Carried At Market [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	3,070	1,938	2,183	1,477
Total increase (decrease) in unrealized gains included in cost of products sold	75	279	805	396
Purchases	7,163	3,012	13,548	6,419
Sales	(7,356)	(3,625)	(13,988)	(7,135)
Settlements	0	0	0	0
Transfers into Level 3	410	306	926	306
Transfers out of Level 3	(538)	(511)	(650)	(64)
Balance at end of period	2,824	1,399	2,824	1,399
Significant Unobservable Inputs (Level 3) [Member] | Commodity Derivative Contracts Gains [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	684	391	859	201
Total increase (decrease) in unrealized gains included in cost of products sold	273	229	516	446
Purchases	0	0	0	0
Sales	0	0	0	0
Settlements	(395)	(190)	(823)	(235)
Transfers into Level 3	22	23	45	44
Transfers out of Level 3	(33)	(11)	(46)	(14)
Balance at end of period	$ 551	$ 442	$ 551	$ 442

Fair Value Measurements (Reco_2

Fair Value Measurements (Reconciliation Of Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss)	$ (683)	$ (253)	$ (1,100)	$ (463)
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	734	329	963	226
Total increase (decrease) in unrealized losses included in cost of products sold	651	248	1,052	456
Purchases	17	2	29	8
Sales		(9)	(2)	(25)
Settlements	(447)	(211)	(1,013)	(333)
Transfers into Level 3	170	19	235	55
Transfers out of Level 3	(26)	(1)	(165)	(10)
Balance at end of period	1,099	377	1,099	377
Significant Unobservable Inputs (Level 3) [Member] | Long-term Debt [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	54		34
Total increase (decrease) in unrealized losses included in cost of products sold	(30)		(10)
Purchases	0		0
Balance at end of period	24		24
Significant Unobservable Inputs (Level 3) [Member] | Inventory Related Payables [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	21	20	11	27
Total increase (decrease) in unrealized losses included in cost of products sold	0	1	0	4
Purchases	17	2	29	8
Sales		(9)	(2)	(25)
Settlements	0	0	0	0
Transfers into Level 3	0	0	0	0
Transfers out of Level 3	0	0	0	0
Balance at end of period	38	14	38	14
Significant Unobservable Inputs (Level 3) [Member] | Commodity Derivative Contracts Losses [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	648	309	918	199
Total increase (decrease) in unrealized losses included in cost of products sold	681	247	1,062	452
Purchases	0	0	0	0
Sales		0	0	0
Settlements	(447)	(211)	(1,013)	(333)
Transfers into Level 3	170	19	224	55
Transfers out of Level 3	(15)	(1)	(154)	(10)
Balance at end of period	1,037	$ 363	1,037	$ 363
Significant Unobservable Inputs (Level 3) [Member] | Foreign Exchange Contracts [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	11		0
Total increase (decrease) in unrealized losses included in cost of products sold	0		0
Purchases	0		0
Sales			0
Settlements	0		0
Transfers into Level 3	0		11
Transfers out of Level 3	(11)		(11)
Balance at end of period	$ 0		$ 0

Fair Value Measurements (Unobse

Fair Value Measurements (Unobservable Inputs In Level 3 Valuations Of Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - Weighted Average [Member] - Significant Unobservable Inputs (Level 3) [Member] - Fair Value, Recurring [Member]	Jun. 30, 2021	Dec. 31, 2020
Inventory Related Payables [Member]
Unobservable inputs in Level 3 Valuations of Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items]
Basis	16.20%	13.70%
Transportation cost	0.00%	0.00%
Commodity Derivative Contracts Losses [Member]
Unobservable inputs in Level 3 Valuations of Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items]
Basis	39.60%	0.70%
Transportation cost	3.00%	1.30%
Inventories Carried At Market [Member]
Unobservable inputs in Level 3 Valuations of Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items]
Basis	30.20%	4.30%
Transportation cost	12.50%	10.60%
Commodity Derivative Contracts Gains [Member]
Unobservable inputs in Level 3 Valuations of Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items]
Basis	29.50%	28.30%
Transportation cost	3.30%	1.90%

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities (Narrative) (Details) bu in Millions, $ in Millions, € in Billions	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)galbu	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)galbu	Jun. 30, 2021EUR (€)	Jun. 30, 2020USD ($)	Jun. 30, 2020EUR (€)	Mar. 31, 2021bu	Dec. 31, 2020USD ($)
Derivative [Line Items]
Unrealized gain (loss) on interest rate cash flow hedges, after-tax, AOCI	$ 67		$ 67					$ 31
Corn processed per month (in bushels) | bu	72		72				56
Notional Amount of Nonderivative Instruments | €				€ 2.3		€ 1.5
Foreign Debt used in Net Investment Hedge, Net of Tax	$ 30		$ 30					87
Designated As Hedging Instrument [Member]
Derivative [Line Items]
Unrealized Gain (Loss) on Price Risk Cash Flow Hedges, after Tax, Accumulated Other Comprehensive Income	185		185					119
Interest Rate Derivative Assets, at Fair Value	89		89					61
After-tax gains (losses) in AOCI from commodity cash flow hedge transactions	185		185
Designated As Hedging Instrument [Member] | Revenues [Member]
Derivative [Line Items]
Interest contracts effective amount recognized in earnings	(1)	$ (16)	(15)		$ (41)
Designated As Hedging Instrument [Member] | Interest Expense [Member]
Derivative [Line Items]
Interest contracts effective amount recognized in earnings	$ 0	$ (8)	$ 0		$ (8)
Corn [Member] | Designated As Hedging Instrument [Member]
Derivative [Line Items]
Derivative Hedged Item Time Period	12 months
Corn [Member] | Minimum [Member] | Designated As Hedging Instrument [Member]
Derivative [Line Items]
Percentage of anticipated commodity purchases or production hedged during historical hedging period (as a percent)	23.00%		23.00%
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent)	2.00%		2.00%
Corn [Member] | Maximum [Member] | Designated As Hedging Instrument [Member]
Derivative [Line Items]
Percentage of anticipated commodity purchases or production hedged during historical hedging period (as a percent)	38.00%		38.00%
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent)	33.00%		33.00%
Ethanol [Member] | Designated As Hedging Instrument [Member]
Derivative [Line Items]
Commodity hedged over future hedging period, (in gallons) | gal	0		0
Ethanol [Member] | Minimum [Member] | Designated As Hedging Instrument [Member]
Derivative [Line Items]
Commodity hedged during historical hedging period, (in gallons) | gal	0		0
Ethanol [Member] | Maximum [Member] | Designated As Hedging Instrument [Member]
Derivative [Line Items]
Commodity hedged during historical hedging period, (in gallons) | gal	1,000,000		1,000,000
Soybean [Member] | Designated As Hedging Instrument [Member]
Derivative [Line Items]
Derivative Hedged Item Time Period	12 months
Soybean [Member] | Minimum [Member] | Designated As Hedging Instrument [Member]
Derivative [Line Items]
Percentage of anticipated commodity purchases or production hedged during historical hedging period (as a percent)	27.00%		27.00%
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent)	0.00%		0.00%
Soybean [Member] | Maximum [Member] | Designated As Hedging Instrument [Member]
Derivative [Line Items]
Percentage of anticipated commodity purchases or production hedged during historical hedging period (as a percent)	100.00%		100.00%
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent)	100.00%		100.00%
Net Investment Hedging [Member]
Derivative [Line Items]
Derivatives used in Net Investment Hedge, Net of Tax	$ 136		$ 136					202
Net Investment Hedging [Member] | Currency Swap [Member]
Derivative [Line Items]
Derivative Liability, Notional Amount	1,300		1,300					1,300
Net Investment Hedging [Member] | Foreign Exchange Forward [Member]
Derivative [Line Items]
Derivative Liability, Notional Amount	1,800		1,800					1,800
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Revenues [Member]
Derivative [Line Items]
Derivative Asset, Notional Amount	800		800					3,300
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Interest Expense [Member]
Derivative [Line Items]
Derivative Asset, Notional Amount	$ 550		$ 550					$ 550

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities (Fair Value Of Derivatives Not Designated As Hedging Instruments) (Details) - Not Designated As Hedging Instrument [Member] - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Derivative [Line Items]
FX Contracts Assets	$ 324	$ 283
Embedded Derivative, Fair Value of Embedded Derivative Asset	0	0
Commodity Contracts Assets	1,868	2,764
Total fair value of derivative assets not designated as hedging instruments	2,192	3,047
FX Contracts Liabilities	74	270
Commodity Contracts Liabilities	1,929	2,034
Embedded Derivative, Fair Value of Embedded Derivative Liability	24	34
Total fair value of derivative liabilities not designated as hedging instruments.	$ 2,027	$ 2,338

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities (Pre-Tax Gains (Losses) On Derivatives Not Designated As Hedging Instruments) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Derivative [Line Items]
Revenues	$ 22,926	$ 16,281	$ 41,819	$ 31,251
Cost of Products Sold	21,463	15,173	38,808	29,192
Other (Income) Expense - Net	49	(56)	16	(80)
Interest Expense	40	87	127	170
Total gain (loss) recognized in earnings	(517)	(146)	(1,431)	105
Revenues [Member]
Derivative [Line Items]
FX Contracts	(43)	11	(13)	46
Total gain (loss) recognized in earnings	(43)	11	(13)	46
Cost of Products Sold [Member]
Derivative [Line Items]
FX Contracts	214	(76)	(48)	(661)
Commodity Contracts	(673)	(29)	(1,455)	593
Total gain (loss) recognized in earnings	(459)	(105)	(1,503)	(68)
Interest Expense [Member]
Derivative [Line Items]
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net	30		10
Total gain (loss) recognized in earnings	30		10
Other (Income) Expense - Net [Member]
Derivative [Line Items]
FX Contracts	(45)	(52)	75	72
Commodity Contracts	0	0	0	55
Total gain (loss) recognized in earnings	$ (45)	$ (52)	$ 75	$ 127

Derivative Instruments and He_6

Derivative Instruments and Hedging Activities (Fair Value Of Derivatives Designated As Hedging Instruments) (Details) - Designated As Hedging Instrument [Member] - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Derivative [Line Items]
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Assets, Fair Value	$ 0	$ 0
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Liabilities, Fair Value	178	265
Interest Rate Derivative Assets, at Fair Value	89	61
Interest Rate Derivative Liabilities, at Fair Value	1	15
Derivative Instruments in Hedges, Assets, at Fair Value	89	61
Derivative Instruments in Hedges, Liabilities, at Fair Value	$ 179	$ 280

Derivative Instruments and He_7

Derivative Instruments and Hedging Activities (Pre-Tax Gains (Losses) On Derivatives Designated As Hedging Instruments) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Derivative Instruments, Gains (Loss) [Line Items]
Revenues	$ 22,926	$ 16,281	$ 41,819	$ 31,251
Cost of Products Sold	21,463	15,173	38,808	29,192
Interest Expense	40	87	127	170
Other (Income) Expense - Net	49	(56)	16	(80)
Designated As Hedging Instrument [Member]
Derivative Instruments, Gains (Loss) [Line Items]
Total amount recognized in earnings	238	(57)	313	(101)
Designated As Hedging Instrument [Member] | Revenues [Member]
Derivative Instruments, Gains (Loss) [Line Items]
Interest contracts effective amount recognized in earnings	(1)	(16)	(15)	(41)
Commodity Contracts effective amount recognized in earnings	0	3	0	8
Total amount recognized in earnings	(1)	(13)	(15)	(33)
Designated As Hedging Instrument [Member] | Cost of Products Sold [Member]
Derivative Instruments, Gains (Loss) [Line Items]
Commodity Contracts effective amount recognized in earnings	239	(36)	328	(60)
Total amount recognized in earnings	239	(36)	328	(60)
Designated As Hedging Instrument [Member] | Interest Expense [Member]
Derivative Instruments, Gains (Loss) [Line Items]
Interest contracts effective amount recognized in earnings	0	(8)	0	(8)
Total amount recognized in earnings	$ 0	$ (8)	$ 0	$ (8)

Other Current Assets (Details)

Other Current Assets (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Other Assets [Abstract]
Derivative Asset	$ 2,281		$ 2,281		$ 3,108
Margin Deposit Assets	609		609		500
Receivables from Customers	1,038		1,038		860
Financing Receivable, after Allowance for Credit Loss	142		142		297
Premiums Receivable, Net	64		64		35
Prepaid Expense, Current	361		361		290
Biodiesel tax credit	99		99		101
Tax receivables	578		578		680
Other Receivables	294		294		218
Other current assets	131		131		135
Total other current assets	5,597		5,597		6,224
Financing Receivable, Allowance for Credit Loss	4		4		4
Interest on financing receivables	2	$ 3	6	$ 11
Reinsurance Recoverables	$ 66		$ 66		$ 40

Accrued Expenses And Other Pa_3

Accrued Expenses And Other Payables (Details) - USD ($) $ in Millions	Jun. 30, 2021	Dec. 31, 2020
Accrued Liabilities and Other Liabilities [Abstract]
Derivative Liability	$ 2,182	$ 2,584
Employee-related Liabilities	397	396
Accrued Income Taxes, Current	109	41
Accrual for Taxes Other than Income Taxes, Current	137	127
Biodiesel tax credit payable	3	5
Liability for Claims and Claims Adjustment Expense	224	238
Contract with Customer, Liability	357	626
Accrued expenses and other payables	1,070	926
Total accrued expenses and other payables	$ 4,479	$ 4,943

Debt And Financing Arrangemen_2

Debt And Financing Arrangements (Narrative) (Details) € in Millions	Mar. 25, 2021	Jun. 30, 2021EUR (€)	Jun. 30, 2021USD ($)
Debt Instrument [Line Items]
Debt Instrument, Issuance Date	Mar. 25, 2021
Debt Instrument, Face Amount | €		€ 500
Excess of fair value over carrying value of long-term debt			$ 1,500,000,000
Debt Instrument, Maturity Date		Sep. 25, 2022
Line of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			11,900,000,000
Unused lines of credit			8,600,000,000
Commercial Paper [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			6,500,000,000
Commercial Paper			600,000,000
Accounts Receivable Securitization Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			2,000,000,000
Unused lines of credit			$ 0

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Contingency [Line Items]
Effective income tax rate	13.70%	14.50%	14.80%	6.90%
Effective Income Tax Rate Reconciliation, Tax Credit, Amount				$ 73
Argentine Tax Authorities [Member]
Income Tax Contingency [Line Items]
Income tax assessment	$ 9		$ 9
Income tax assessment - Interest and Penalties	39		39
Estimated Additional Tax Assessment	64		64
Additional income tax assessment - Interest and Penalties	30		30
Tax and Customs Administration, Netherlands [Member]
Income Tax Contingency [Line Items]
Income tax assessment	96		96
Additional income tax assessment - Interest and Penalties	$ 34		$ 34

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (AOCI) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance of Accumulated Other Comprehensive Income (Loss) at Beginning of Period	$ (2,278)	$ (2,604)
Other comprehensive income (loss) before reclassifications	417	664
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax	(64)	166
Amounts reclassified from AOCI	(166)	(231)
Other comprehensive income (loss), tax, portion attributable to parent	(30)	(116)
Other Comprehensive Income (Loss), Net of Tax	157	483
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	(2,121)	(2,121)
Foreign Currency Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance of Accumulated Other Comprehensive Income (Loss) at Beginning of Period	(2,186)	(2,424)
Other comprehensive income (loss) before reclassifications	99	163
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax	(64)	166
Amounts reclassified from AOCI	0	0
Other comprehensive income (loss), tax, portion attributable to parent	8	(48)
Other Comprehensive Income (Loss), Net of Tax	43	281
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	(2,143)	(2,143)
Deferred Gain (Loss) On Hedging Activities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance of Accumulated Other Comprehensive Income (Loss) at Beginning of Period	261	185
Other comprehensive income (loss) before reclassifications	320	496
Amounts reclassified from AOCI	(238)	(313)
Other comprehensive income (loss), tax, portion attributable to parent	(15)	(40)
Other Comprehensive Income (Loss), Net of Tax	67	143
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	328	328
Pension Liability Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance of Accumulated Other Comprehensive Income (Loss) at Beginning of Period	(352)	(365)
Other comprehensive income (loss) before reclassifications	(1)	7
Amounts reclassified from AOCI	72	82
Other comprehensive income (loss), tax, portion attributable to parent	(22)	(27)
Other Comprehensive Income (Loss), Net of Tax	49	62
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	(303)	(303)
Unrealized Gain (Loss) On Investments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance of Accumulated Other Comprehensive Income (Loss) at Beginning of Period	(1)	0
Other comprehensive income (loss) before reclassifications	(1)	(2)
Amounts reclassified from AOCI	0	0
Other comprehensive income (loss), tax, portion attributable to parent	(1)	(1)
Other Comprehensive Income (Loss), Net of Tax	(2)	(3)
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	$ (3)	$ (3)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (AOCI) Components (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Earnings Before Income Taxes	$ (825)	$ (552)	$ (1,649)	$ (927)
Income taxes	(113)	(80)	(244)	(64)
Net Earnings Including Noncontrolling Interests	(712)	(472)	(1,405)	(863)
Reclassification out of Accumulated Other Comprehensive Income [Member] | Deferred (Gain) Loss On Hedging Activities [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Derivative, Gain (Loss) on Derivative, Net	(238)	57	(313)	101
Income taxes	(57)	10	(79)	14
Net Earnings Including Noncontrolling Interests	(181)	47	(234)	87
Reclassification out of Accumulated Other Comprehensive Income [Member] | Pension Liability Adjustment [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Earnings Before Income Taxes	72	5	82	5
Income taxes	22	0	26	11
Net Earnings Including Noncontrolling Interests	50	5	56	(6)
Revenues [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Deferred (Gain) Loss On Hedging Activities [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Derivative, Gain (Loss) on Derivative, Net	1	13	15	33
Cost of Products Sold [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Deferred (Gain) Loss On Hedging Activities [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Derivative, Gain (Loss) on Derivative, Net	(239)	36	(328)	60
Other (Income) Expense - Net [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Pension Liability Adjustment [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Prior Service Cost (Credit)	(61)	(8)	(67)	(16)
Actuarial Losses	133	13	149	21
Interest Expense [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | Deferred (Gain) Loss On Hedging Activities [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 0	$ 8	$ 0	$ 8

Other (Income) Expense (Details

Other (Income) Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component	$ (5)	$ (8)	$ (11)	$ (21)
Other - net	(5)	(17)	(27)	(49)
Gain (Loss) on Extinguishment of Debt	0	(14)	0	(14)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement	82		82
Gain (Loss) on Sale and Revaluation of Assets	28	53	39	45
Other (Income) Expense - Net	49	(56)	16	(80)
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component	$ (5)	$ (8)	$ (11)	$ (21)

Segment Information (Narrative)

Segment Information (Narrative) (Details)	6 Months Ended
	Jun. 30, 2021segment
Segment Reporting Information [Line Items]
Number of reportable segments	3

Segment Information (Segment In

Segment Information (Segment Information) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Information
Revenues	$ (22,926)	$ (16,281)	$ (41,819)	$ (31,251)
Earnings Before Income Taxes	825	552	1,649	927
Ag Services and Oilseeds [Member]
Segment Information
Revenues	(18,271)	(12,741)	(33,278)	(23,820)
Earnings Before Income Taxes	570	413	1,347	835
Ag Services [Member]
Segment Information
Revenues	(12,815)	(8,652)	(22,961)	(15,578)
Crushing [Member]
Segment Information
Revenues	(2,827)	(2,405)	(5,569)	(4,718)
Refined Products and Other [Member]
Segment Information
Revenues	(2,629)	(1,684)	(4,748)	(3,524)
Carbohydrate Solutions [Member]
Segment Information
Revenues	(2,820)	(2,014)	(5,043)	(4,330)
Earnings Before Income Taxes	383	195	642	263
Starches and sweeteners [Member]
Segment Information
Revenues	(1,846)	(1,545)	(3,591)	(3,195)
VCP [Member]
Segment Information
Revenues	(974)	(469)	(1,452)	(1,135)
Nutrition [Member]
Segment Information
Revenues	(1,733)	(1,437)	(3,296)	(2,908)
Earnings Before Income Taxes	201	158	355	300
Human Nutrition [Member]
Segment Information
Revenues	(848)	(723)	(1,602)	(1,442)
Animal Nutrition [Member]
Segment Information
Revenues	(885)	(714)	(1,694)	(1,466)
Other [Member]
Segment Information
Revenues	(102)	(89)	(202)	(193)
Earnings Before Income Taxes	6	38	15	49
Operating Segments [Member]
Segment Information
Earnings Before Income Taxes	1,145	813	2,250	1,412
Operating Segments [Member] | Ag Services and Oilseeds [Member]
Segment Information
Revenues	(18,799)	(14,431)	(34,738)	(26,781)
Operating Segments [Member] | Carbohydrate Solutions [Member]
Segment Information
Revenues	(3,271)	(2,213)	(5,905)	(4,767)
Operating Segments [Member] | Nutrition [Member]
Segment Information
Revenues	(1,793)	(1,474)	(3,417)	(2,990)
Operating Segments [Member] | Other [Member]
Segment Information
Revenues	(102)	(89)	(202)	(193)
Intersegment Elimination [Member]
Segment Information
Revenues	1,039	1,926	2,443	3,480
Intersegment Elimination [Member] | Ag Services and Oilseeds [Member]
Segment Information
Revenues	528	1,690	1,460	2,961
Intersegment Elimination [Member] | Carbohydrate Solutions [Member]
Segment Information
Revenues	451	199	862	437
Intersegment Elimination [Member] | Nutrition [Member]
Segment Information
Revenues	60	37	121	82
Corporate, Non-Segment [Member]
Segment Information
Earnings Before Income Taxes	(320)	(261)	(601)	(485)
Other (Income) Expense - Net [Member] | Segment Reconciling Items [Member]
Segment Information
Earnings Before Income Taxes	22	23	22	23
Asset impairment, restructuring, and settlement [Member] | Segment Reconciling Items [Member]
Segment Information
Earnings Before Income Taxes	$ (37)	$ (14)	$ (131)	$ (58)

Asset Impairment, Exit, and R_2

Asset Impairment, Exit, and Restructuring Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Asset Impairment Charges And Exit Costs [Line Items]
Asset Impairment Charges	$ 23	$ 3	$ 54	$ 47
Restructuring Charges	1	$ 13	24	$ 10
Corporate Segment
Asset Impairment Charges And Exit Costs [Line Items]
Restructuring Charges	$ 1		$ 4

Sale of Accounts Receivable (Na

Sale of Accounts Receivable (Narrative) (Details) $ in Millions, € in Billions	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021EUR (€)	Dec. 31, 2020USD ($)
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Transfer of Financial Assets Accounted for as Sales, Fair Value of Derecognized Assets	$ 2,000		$ 2,000			$ 1,600
Proceeds from Sale of Other Receivables			22,500	$ 16,400
Proceeds from Collection of Retained Interest in Securitized Receivables			0	4,577
Loss on transfer of accounts receivables to purchasers	2	$ 3	6	5
Amount of receivables sold			24,800	$ 16,800
Pledged Assets, Not Separately Reported, Finance Receivables	600		600			400
Accounts Receivable Securitization Facility [Member]
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	2,000		2,000
First Purchasers [Member] | Accounts Receivable Securitization Facility [Member]
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	1,400		1,400			$ 1,200
Second Purchasers [Member] | Accounts Receivable Securitization Facility [Member]
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 600		$ 600		€ 0.5