Archer-Daniels-Midland (ADM) 10-Q 26 Apr 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	Apr. 25, 2022
Class of Stock [Line Items]
Entity Central Index Key	0000007084
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
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		562,707,786
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
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenues	$ 23,650	$ 18,893
Cost of Products Sold	21,753	17,345
Gross Profit	1,897	1,548
Selling, general, and administrative expenses	829	749
Asset impairment, exit, and restructuring costs	1	59
Interest Expense	92	87
Equity in (earnings) losses of unconsolidated affiliates	(204)	(125)
Investment Income	(59)	(13)
Other (Income) Expense - Net	(33)	(33)
Earnings Before Income Taxes	1,271	824
Income taxes	207	131
Net earnings including noncontrolling interests	1,064	693
Net Income (Loss) Attributable to Noncontrolling Interest	10	4
Net Earnings Attributable to Controlling Interests	$ 1,054	$ 689
Average number of shares outstanding - basic	566	563
Average number of shares outstanding - diluted	568	564
Earnings Per Share, Basic	$ 1.86	$ 1.22
Earnings Per Share, Diluted	1.86	1.22
Dividends per common share	$ 0.40	$ 0.37

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net earnings including noncontrolling interests	$ 1,064	$ 693
Other Comprehensive Income (Loss), before Tax
Foreign currency translation adjustment, before tax	149	294
Pension and other postretirement benefit liabilities adjustment, before tax	37	18
Unrealized gain (loss) on investments, before tax	(5)	(1)
Other Comprehensive Income (Loss), Tax
Foreign currency translation adjustment, tax effect	(31)	(56)
Pension and other postretirement benefit liabilities adjustment, tax effect	(7)	(5)
Unrealized gain (loss) on investments, tax effect	0	0
Other Comprehensive Income (Loss), Net of Tax
Foreign currency translation adjustment, net of tax	118	238
Pension and other postretirement benefit liabilities adjustment, net of tax	30	13
Other Comprehensive Income (Loss), Cash Flow Hedge And Net Investment Hedge, Gain (Loss), Before Reclassification, Before Tax	282	101
Other Comprehensive Income (Loss), Cash Flow Hedge And Net Investment Hedge, Gain (Loss), After Reclassification Adjustment, Tax	(47)	(25)
Other Comprehensive Income (Loss), Cash Flow Hedge And Net Investment Hedge, Gain (Loss), After Reclassification Adjustment, After Tax	235	76
Unrealized gain (loss) on investments, net of tax	(5)	(1)
Other comprehensive income (loss)	378	326
Comprehensive income (loss) including noncontrolling interests	1,442	1,019
Less: Comprehensive income (loss) attributable to noncontrolling interests	5	4
Comprehensive income (loss) attributable to controlling interests	$ 1,437	$ 1,015

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current Assets
Cash and cash equivalents	$ 1,079	$ 943
Segregated cash and investments	10,132	8,016
Trade receivables	4,235	3,311
Inventories	17,290	14,481
Other current assets	7,717	5,158
Total Current Assets	40,453	31,909
Investments and Other Assets
Investments in and advances to affiliates	5,404	5,285
Goodwill and other intangible assets	6,750	6,747
Operating Lease, Right-of-Use Asset	999	1,023
Other assets	1,466	1,369
Total Investments and Other Assets	14,619	14,424
Property, Plant, and Equipment
Land and Land Improvements	552	554
Buildings	5,614	5,597
Machinery and equipment	19,096	19,112
Construction in progress	1,086	960
Gross Property, Plant, and Equipment	26,348	26,223
Accumulated depreciation	(16,554)	(16,420)
Net Property, Plant, and Equipment	9,794	9,803
Total Assets	64,866	56,136
Current Liabilities
Short-term debt	3,777	958
Trade payables	6,135	6,388
Payables to Brokerage Customers	11,425	8,965
Accrued expenses and other payables	6,363	4,790
Operating Lease, Liability, Current	280	277
Current maturities of long-term debt	543	570
Total Current Liabilities	28,523	21,948
Long-Term Liabilities
Long-term debt	8,752	8,011
Deferred income taxes	1,604	1,412
Operating Lease, Liability, Noncurrent	739	765
Other	1,231	1,233
Total Long-Term Liabilities	12,326	11,421
Redeemable Noncontrolling Interest, Equity, Carrying Amount	262	259
Shareholders' Equity
Common stock	3,028	2,994
Reinvested earnings	22,483	21,655
Accumulated other comprehensive income (loss)	(1,789)	(2,172)
Noncontrolling interests	33	31
Total Shareholders' Equity	23,755	22,508
Total Liabilities and Shareholders' Equity	$ 64,866	$ 56,136

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Activities
Net earnings including noncontrolling interests	$ 1,064	$ 693
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities
Depreciation and amortization	257	249
Asset impairment charges	1	31
Deferred income taxes	144	(7)
Equity in earnings of affiliates, net of dividends	(159)	(81)
Stock compensation expense	69	76
Deferred cash flow hedges	283	102
Gain (Loss) on Disposition of Assets	(34)	(11)
Other - net	(9)	150
Increase (Decrease) of Restricted Investments	(482)	666
Changes in operating assets and liabilities, net of businesses acquired
Trade receivables	(937)	(515)
Inventories	(2,881)	(1,138)
Other current assets	(2,141)	413
Trade payables	(245)	(441)
Increase (Decrease) in Payables to Brokerage Customers	2,501	561
Accrued expenses and other payables	1,363	(450)
Total Operating Activities	(1,206)	298
Investing Activities
Purchases of property, plant, and equipment	(217)	(174)
Proceeds from sale of business and assets	5	14
Payments to Acquire Interest in Subsidiaries and Affiliates	(36)	(4)
Distributions from affiliates	0	5
Other - net	(94)	(10)
Total Investing Activities	(342)	(169)
Financing Activities
Long-term debt borrowings	750	593
Net borrowings (payments) under lines of credit agreements	2,824	729
Cash dividends	(226)	(208)
Other - net	(30)	(37)
Total Financing Activities	3,318	1,077
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	1,770	1,206
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning	7,454	4,646
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending	9,224	5,852
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents [Abstract]
Cash and cash equivalents	1,079	694
Restricted Cash and Cash Equivalents	$ 8,145	$ 5,158

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]
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	693		689		4
Other comprehensive income (loss)	326			326	0
Total comprehensive income	$ 1,019
Common Stock, Dividends, Per Share, Cash Paid	$ 0.37
Cash dividends paid	$ (208)		(208)
Stock compensation expense, shares	3
Stock compensation expense	$ 76	76
Stock option exercises net of taxes, value	(37)	$ (37)
Stock option exercises net of taxes, shares		0
Other, shares		0
Other	(11)	$ (5)	0	0	(6)
Balance (shares) at Mar. 31, 2021		559
Balance at Mar. 31, 2021	20,861	$ 2,858	20,261	(2,278)	20
Balance (shares) at Dec. 31, 2021		560
Balance at Dec. 31, 2021	22,508	$ 2,994	21,655	(2,172)	31
Comprehensive income
Net earnings including noncontrolling interests	1,064		1,054		10
Other comprehensive income (loss)	378			383	(5)
Total comprehensive income	$ 1,442
Common Stock, Dividends, Per Share, Cash Paid	$ 0.40
Cash dividends paid	$ (226)		(226)
Stock compensation expense, shares		3
Stock compensation expense	69	$ 69
Stock option exercises net of taxes, value	(36)	$ (36)
Stock option exercises net of taxes, shares		0
Other, shares		0
Other	(2)	$ 1	0		(3)
Balance (shares) at Mar. 31, 2022		563
Balance at Mar. 31, 2022	$ 23,755	$ 3,028	$ 22,483	$ (1,789)	$ 33

Consolidated Statements Of Sh_2

Consolidated Statements Of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends paid, per share	$ 0.40	$ 0.37

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2022
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 three months ended March 31, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. 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, 2021. 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 included allowances for estimated uncollectible accounts totaling $137 million and $122 million at March 31, 2022 and December 31, 2021, 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. The Company recorded bad debt expense in selling, general, and administrative expenses of $22 million and $4 million in the three months ended March 31, 2022 and 2021, respectively. Cost Method Investments Cost method investments of $434 million and $297 million as of March 31, 2022 and December 31, 2021, respectively, were included in Other Assets in the Company’s consolidated balance sheets. Revaluation gains of $34 million in the quarter ended March 31, 2022, in connection with observable third-party transactions, were recorded in investment income in the Company's consolidated statement of earnings. There were no revaluation gains in the quarter ended March 31, 2021. Operations in Ukraine and Russia ADM employs approximately 650 people in Ukraine and operates an oilseeds crushing plant, a grain port terminal, inland and river silos, and a trading office. Most of the facilities have been temporarily idled since February 24, 2022. The Company’s footprint in Russia is limited and operations have been recently scaled down to those related to the production and transport of essential food commodities and ingredients. As a result of the recent events in Ukraine, the Company reviewed the valuation of its assets and recorded immaterial charges in the quarter ended March 31, 2022 related to receivables and inventories. As of March 31, 2022, ADM concluded that 1) receivables, net of allowances, are deemed collectible; and 2) market inventories presented as level 3 in the fair value measurements table in Note 4 are valued appropriately at the February 24, 2022 market price due to the temporary lack of a more recent market price. The temporarily idled property, plant, and equipment, which was immaterial, was not considered impaired. As the conflict in Ukraine evolves, the Company will continue to review the valuation of these assets and make any required adjustments, which are not expected to be material to the Company’s consolidated financial statements.

Pending Accounting Standards

Pending Accounting Standards	3 Months Ended
	Mar. 31, 2022
Accounting Changes and Error Corrections [Abstract]
Accounting Standards Update and Change in Accounting Principle [Text Block]	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 and does not expect the adoption of the amended guidance to have an impact on its consolidated financial statements. Effective January 1, 2023, the Company will be required to adopt the amended guidance of ASC Topic 805, Business Combinations , which improves comparability for both the recognition and measurement of acquired revenue contracts with customers at the date of and after a business combination. The amended guidance requires an entity (acquirer) to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. Early adoption is permitted. The Company does not expect the adoption of this amended guidance to have a significant impact on its consolidated financial statements.

Revenues Revenues

Revenues Revenues	3 Months Ended
	Mar. 31, 2022
Revenues [Abstract]
Revenues [Text Block]	Revenues Revenue Recognition The Company principally generates revenue from merchandising and transporting agricultural commodities, and manufacturing 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 $175 million and $104 million for the three months ended March 31, 2022 and 2021, 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 transaction 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 $574 million and $581 million as of March 31, 2022 and December 31, 2021, respectively, were recorded in accrued expenses and other payables in the consolidated balance sheets. Contract liabilities recognized as revenues were $324 million and $282 million for the three months ended March 31, 2022 and 2021, respectively. Disaggregation of Revenues The following tables present revenue disaggregated by timing of recognition and major product lines for the three months ended March 31, 2022 and 2021. Three Months Ended March 31, 2022 Topic 606 Revenue Topic 815 (1) Total Point in Time Over Time Total Revenue Revenues (In millions) Ag Services and Oilseeds Ag Services $ 970 $ 175 $ 1,145 $ 10,702 $ 11,847 Crushing 125 — 125 3,097 3,222 Refined Products and Other 632 — 632 2,552 3,184 Total Ag Services and Oilseeds 1,727 175 1,902 16,351 18,253 Carbohydrate Solutions Starches and Sweeteners 1,930 — 1,930 568 2,498 Vantage Corn Processors 868 — 868 — 868 Total Carbohydrate Solutions 2,798 — 2,798 568 3,366 Nutrition Human Nutrition 958 — 958 — 958 Animal Nutrition 966 — 966 — 966 Total Nutrition 1,924 — 1,924 — 1,924 Other Business 107 — 107 — 107 Total Revenues $ 6,556 $ 175 $ 6,731 $ 16,919 $ 23,650 Three Months Ended March 31, 2021 Topic 606 Revenue Topic 815 (1) Total Point in Time Over Time Total Revenue Revenues (In millions) Ag Services and Oilseeds Ag Services $ 662 $ 104 $ 766 $ 9,380 $ 10,146 Crushing 124 — 124 2,618 2,742 Refined Products and Other 512 — 512 1,607 2,119 Total Ag Services and Oilseeds 1,298 104 1,402 13,605 15,007 Carbohydrate Solutions Starches and Sweeteners 1,361 — 1,361 384 1,745 Vantage Corn Processors 478 — 478 — 478 Total Carbohydrate Solutions 1,839 — 1,839 384 2,223 Nutrition Human Nutrition 754 — 754 — 754 Animal Nutrition 809 — 809 — 809 Total Nutrition 1,563 — 1,563 — 1,563 Other Business 100 — 100 — 100 Total Revenues $ 4,800 $ 104 $ 4,904 $ 13,989 $ 18,893 (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 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, pet food and treats, 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	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 and December 31, 2021. Fair Value Measurements at March 31, 2022 Quoted Prices in Significant Significant Total (In millions) Assets: Inventories carried at market $ — $ 8,033 $ 3,959 $ 11,992 Unrealized derivative gains: Commodity contracts — 1,578 828 2,406 Foreign currency contracts — 461 — 461 Interest rate contracts — 67 — 67 Cash equivalents 419 — — 419 Segregated investments 1,548 — — 1,548 Total Assets $ 1,967 $ 10,139 $ 4,787 $ 16,893 Liabilities: Unrealized derivative losses: Commodity contracts $ — $ 1,544 $ 1,856 $ 3,400 Foreign currency contracts — 238 — 238 Interest rate contracts — 1 — 1 Debt conversion option — — 30 30 Inventory-related payables — 1,860 53 1,913 Total Liabilities $ — $ 3,643 $ 1,939 $ 5,582 Fair Value Measurements at December 31, 2021 Significant Significant Total (In millions) Assets: Inventories carried at market $ — $ 6,765 $ 3,004 $ 9,769 Unrealized derivative gains: Commodity contracts — 902 460 1,362 Foreign currency contracts — 238 — 238 Interest rate contracts — 46 — 46 Cash equivalents 448 — — 448 Segregated investments 1,338 — — 1,338 Total Assets $ 1,786 $ 7,951 $ 3,464 $ 13,201 Liabilities: Unrealized derivative losses: Commodity contracts $ — $ 944 $ 815 $ 1,759 Foreign currency contracts — 191 — 191 Debt conversion option — — 15 15 Inventory-related payables — 859 106 965 Total Liabilities $ — $ 1,994 $ 936 $ 2,930 Estimated fair values for inventories and inventory-related payables 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 competitor and broker 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 (more than 10%) 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 competitor and broker 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 in 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). 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 March 31, 2022. Level 3 Fair Value Asset Measurements at March 31, 2022 Inventories Commodity Total Assets (In millions) Balance, December 31, 2021 $ 3,004 $ 460 $ 3,464 Total increase (decrease) in net realized/unrealized gains included in cost of products sold* 647 633 1,280 Purchases 9,552 — 9,552 Sales (9,315) — (9,315) Settlements — (276) (276) Transfers into Level 3** 327 23 350 Transfers out of Level 3 (256) (12) (268) Ending balance, March 31, 2022 $ 3,959 $ 828 $ 4,787 * Includes increase in unrealized gains of $1.4 billion relating to Level 3 assets still held at March 31, 2022. ** Inventories carried at market includes Ukraine inventory as discussed in Note 1. 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 March 31, 2022. Level 3 Fair Value Liability Measurements at March 31, 2022 Inventory- Commodity Debt Conversion Option Total Liabilities (In millions) Balance, December 31, 2021 $ 106 $ 815 $ 15 $ 936 Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense* (2) 1,376 15 1,389 Purchases 2 — — 2 Sales (53) — — (53) Settlements — (478) — (478) Transfers into Level 3 — 161 — 161 Transfers out of Level 3 — (18) — (18) Ending balance, March 31, 2022 $ 53 $ 1,856 $ 30 $ 1,939 * Includes increase in unrealized losses of $1.4 billion relating to Level 3 liabilities still held at March 31, 2022. 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 March 31, 2021. Level 3 Fair Value Asset Measurements at March 31, 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* 730 243 973 Purchases 6,385 — 6,385 Sales (6,632) — (6,632) Settlements — (428) (428) Transfers into Level 3 516 23 539 Transfers out of Level 3 (112) (13) (125) Ending balance, March 31, 2021 $ 3,070 $ 684 $ 3,754 * Includes increase in unrealized gains of $847 million relating to Level 3 assets still held at March 31, 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 March 31, 2021. Level 3 Fair Value Liability Measurements at March 31, 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* — 381 — 20 401 Purchases 12 — — — 12 Sales (2) — — — (2) Settlements — (566) — — (566) Transfers into Level 3 — 54 11 — 65 Transfers out of Level 3 — (139) — — (139) Ending balance, March 31, 2021 $ 21 $ 648 $ 11 $ 54 $ 734 * Includes increase in unrealized losses of $383 million relating to Level 3 liabilities still held at March 31, 2021. 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. Transfers out of Level 3 were primarily due to the relative value of unobservable inputs to the total fair value measurement of certain products and derivative contracts falling below the 10% threshold and thus permitting reclassification to Level 2. 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 March 31, 2022 and December 31, 2021. 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 March 31, 2022 is a weighted average 28.9% of the total price for assets and 13.9% of the total price for liabilities. Weighted Average % of Total Price March 31, 2022 December 31, 2021 Component Type Assets Liabilities Assets Liabilities Inventories and Related Payables Basis 28.9 % 13.9 % 28.7 % 13.1 % Transportation cost 11.4 % — % 13.0 % — % Commodity Derivative Contracts Basis 22.1 % 22.5 % 30.0 % 27.1 % Transportation cost 9.1 % 2.6 % 8.1 % 0.7 % 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	3 Months Ended
	Mar. 31, 2022
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 forward commodity purchase or sale contracts, and inventories of certain merchandisable agricultural products, which include amounts acquired under deferred pricing contracts, are stated at fair value or 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 March 31, 2022 and December 31, 2021. March 31, 2022 December 31, 2021 Assets Liabilities Assets Liabilities (In millions) Foreign Currency Contracts $ 437 $ 190 $ 217 $ 116 Interest Rate Contracts 2 1 — — Commodity Contracts 2,280 3,400 1,276 1,759 Debt Conversion Option — 30 — 15 Total $ 2,719 $ 3,621 $ 1,493 $ 1,890 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 months ended March 31, 2022 and 2021. Other expense (income) - net Cost of Interest (In millions) Revenues products sold expense Three Months Ended March 31, 2022 Consolidated Statement of Earnings $ 23,650 $ 21,753 $ (33) $ 92 Pre-tax gains (losses) on: Foreign Currency Contracts $ (38) $ 443 $ 23 $ — Commodity Contracts — (1,101) — — Debt Conversion Option — — — (15) Total gain (loss) recognized in earnings $ (38) $ (658) $ 23 $ (15) $ (688) Three Months Ended March 31, 2021 Consolidated Statement of Earnings $ 18,893 $ 17,345 $ (33) $ 87 Pre-tax gains (losses) on: Foreign Currency Contracts $ 30 $ (262) $ 120 $ — Commodity Contracts — (782) — — Debt Conversion Option — — — (20) Total gain (loss) recognized in earnings $ 30 $ (1,044) $ 120 $ (20) $ (914) Changes in the market value of inventories of certain merchandisable agricultural commodities, 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. 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, and other (income) expense - net depending on the purpose of the contract. 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 March 31, 2022 and December 31, 2021. 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 $0.8 billion and $1.2 billion as of March 31, 2022 and December 31, 2021, respectively, and foreign exchange forwards with an aggregate notional amount of $2.3 billion and $2.6 billion as of March 31, 2022 and December 31, 2021, respectively. As of March 31, 2022 and December 31, 2021, the Company had after-tax losses of $24 million and $44 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 is reclassified into earnings in the same line item affected by the hedged transaction 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 March 31, 2022 and December 31, 2021, the Company had interest rate swaps maturing on various dates with aggregate notional amounts of $1.0 billion. 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 March 31, 2022 and December 31, 2021, the Company executed swap locks maturing on various dates with an aggregate notional amount of $400 million. As of March 31, 2022 and December 31, 2021, the Company had after-tax gains of $49 million and $35 million in AOCI, respectively, related to the interest rate swaps and swap locks. The Company expects to recognize amounts deferred in AOCI in its consolidated statement of earnings during the life of the debt 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 March 31, 2022 and December 31, 2021, the Company had after-tax gains of $370 million and $161 million in AOCI, respectively, related to gains and losses from these programs. The Company expects to recognize $370 million of the March 31, 2022 after-tax gains in its consolidated statement 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 65 million bushels of corn per month. During the past 12 months, the Company hedged between 17% and 42% of its monthly grind. At March 31, 2022, the Company had designated hedges representing between 0% and 29% 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 and as of March 31, 2022, the Company had no hedges related to ethanol sales under these programs. The Company uses futures and options contracts to hedge the purchase price of the anticipated volumes of soybeans to be purchased and processed in a future month for certain of its U.S. soybean crush facilities, subject to certain program limits. 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, subject to certain program limits. During the past 12 months, the Company hedged between 57% and 100% of the anticipated monthly soybean crush for soybean purchases and soybean meal and oil sales at the designated facilities. At March 31, 2022, 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 Company uses futures and OTC swaps to hedge the purchase price of anticipated volumes of natural gas consumption in a future month for certain of its facilities in North America and Europe, subject to certain program limits. During the past 12 months, the Company hedged between 0% and 84% of the anticipated monthly natural gas consumption at the designated facilities. At March 31, 2022, the Company had designated hedges representing between 0% and 95% of the anticipated monthly natural gas consumption over the next 12 months. The following table sets forth the fair value of derivatives designated as hedging instruments as of March 31, 2022 and December 31, 2021. March 31, 2022 December 31, 2021 Assets Liabilities Assets Liabilities (In millions) Commodity Contracts $ 126 $ — $ 86 $ — Foreign Currency Contracts 24 48 21 $ 75 Interest Rate Contracts 65 — 46 — Total $ 215 $ 48 $ 153 $ 75 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 months ended March 31, 2022 and 2021. Cost of products sold (In millions) Revenues Three Months Ended March 31, 2022 Consolidated Statement of Earnings $ 23,650 $ 21,753 Effective amounts recognized in earnings Pre-tax gains (losses) on: Commodity Contracts $ — $ 98 Total gain (loss) recognized in earnings $ — $ 98 $ 98 Three Months Ended March 31, 2021 Consolidated Statement of Earnings $ 18,893 $ 17,345 Effective amounts recognized in earnings Pre-tax gains (losses) on: Commodity Contracts $ — $ 89 Interest Contracts (14) — Total gain (loss) recognized in earnings $ (14) $ 89 $ 75 Other Net Investment Hedging Strategies The Company has designated €2.6 billion and €1.8 billion of its outstanding long-term debt and commercial paper borrowings at March 31, 2022 and December 31, 2021, respectively, as hedges of its net investment in a foreign subsidiary. As of March 31, 2022 and December 31, 2021, the Company had after-tax gains of $113 million and $55 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	3 Months Ended
	Mar. 31, 2022
Other Assets [Abstract]
Other Current Assets	Other Current Assets The following table sets forth the items in other current assets: March 31, December 31, 2022 2021 (In millions) Unrealized gains on derivative contracts $ 2,934 $ 1,646 Margin deposits and grain accounts 1,112 600 Customer omnibus receivable 1,539 1,179 Financing receivables - net (1) 233 189 Insurance premiums receivable 26 20 Prepaid expenses 377 370 Biodiesel tax credit 70 79 Tax receivables 764 708 Non-trade receivables (2) 421 285 Other current assets 241 82 $ 7,717 $ 5,158 (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 $5 million and $4 million at March 31, 2022 and December 31, 2021, respectively. Interest earned on financing receivables of $4 million for the three months ended March 31, 2022 and 2021, respectively, is included in investment income in the consolidated statements of earnings. (2) Non-trade receivables included $27 million of reinsurance recoverables as of March 31, 2022 and December 31, 2021, respectively.

Accrued Expenses And Other Paya

Accrued Expenses And Other Payables	3 Months Ended
	Mar. 31, 2022
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: March 31, December 31, 2022 2021 (In millions) Unrealized losses on derivative contracts $ 3,639 $ 1,950 Accrued compensation 332 445 Income tax payable 211 132 Other taxes payable 178 168 Insurance claims payable 235 220 Contract liability 574 581 Other accruals and payables 1,194 1,294 $ 6,363 $ 4,790

Debt And Financing Arrangements

Debt And Financing Arrangements	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Debt And Financing Arrangements	Debt and Financing Arrangements On February 28, 2022, the Company issued its first sustainability bond of $750 million aggregate principal amount of 2.900% notes due March 1, 2032. Net proceeds before expenses were $748 million. The Company expects to apply an amount equal to the net proceeds to finance or refinance eligible green projects and/or eligible social projects. At March 31, 2022, the fair value of the Company’s long-term debt exceeded the carrying value by $1.0 billion, as estimated using quoted market prices (a Level 2 measurement under applicable accounting standards). At March 31, 2022, the Company had lines of credit, including the accounts receivable securitization programs described below, totaling $14.3 billion, of which $8.2 billion was unused. During the quarter ended March 31, 2022, the Company expanded its combined U.S. and European commercial paper borrowing programs from $5.0 billion to $6.5 billion under the same terms, against which there was $0.7 billion commercial paper outstanding at March 31, 2022. During the quarter ended March 31, 2022, the Company also added $1.5 billion of short-term borrowings at an average interest rate of 1.64% due in September 2022. The Company has accounts receivable securitization programs (the “Programs”). The Programs provide the Company with up to $2.3 billion in funding resulting from the sale of accounts receivable with $24 million unused capacity as of March 31, 2022 (see Note 14 for more information about the Programs).

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate was 16.3% for the three months ended March 31, 2022 compared to 15.9% for the three months ended March 31, 2021. The change in the rate was primarily due to changes in the geographic mix of earnings. 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 and 2014. As of March 31, 2022, these assessments totaled $8 million in tax and up to $36 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 strongly believes that it has complied with all Argentine tax laws. To date, the Company has not received assessments for closed years subsequent to 2014. 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 2014, and estimates that these potential assessments could be approximately $104 million in tax and $42 million in interest (adjusted for variation in currency exchange rates as of March 31, 2022). 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 2014. 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 March 31, 2022, this assessment was $90 million in tax and $32 million in interest (adjusted for variation in currency exchange rates). 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 second quarter of 2022. 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 evaluated the underlying transactions and has concluded that the amount of gain recognized on the reorganization for tax purposes was appropriate. As of March 31, 2022, the Company has accrued its best estimate of what it believes will be the likely outcome of the litigation.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (AOCI)	3 Months Ended
	Mar. 31, 2022
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 months ended March 31, 2022 and the reclassifications out of AOCI for the three months ended March 31, 2022 and 2021: Three months ended March 31, 2022 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, 2021 $ (2,248) $ 225 $ (147) $ (2) $ (2,172) Other comprehensive income (loss) before reclassifications 31 380 6 (5) 412 Gain (loss) on net investment hedges 123 — — — 123 Amounts reclassified from AOCI — (98) 31 — (67) Tax effect (31) (47) (7) — (85) Net of tax amount 123 235 30 (5) 383 Balance at March 31, 2022 $ (2,125) $ 460 $ (117) $ (7) $ (1,789) Amount reclassified from AOCI Three months ended March 31, Affected line item in the consolidated statements of earnings Details about AOCI components 2022 2021 (In millions) Deferred loss (gain) on hedging activities $ — $ 14 Revenues (98) (89) Cost of products sold (98) (75) Total before tax 19 21 Tax $ (79) $ (54) Net of tax Pension liability adjustment Amortization of defined benefit pension items: Prior service loss (credit) $ 8 $ (6) Other (income) expense-net Actuarial losses 23 16 Other (income) expense-net 31 10 Total before tax (6) (4) Tax $ 25 $ 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	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 2021 (In millions) Gains on sales of assets $ — $ (11) Other – net (33) (22) Other (Income) Expense - Net $ (33) $ (33) Gains on sales of assets in the three months ended March 31, 2021 consisted of gains on disposals of individually insignificant assets in the ordinary course of business.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2022
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. 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 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. For more information about the Company’s business segments, refer to Note 17 of “Notes to Consolidated Financial Statements” included in Item 8, “Financial Statements and Supplementary Data” included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. Three Months Ended March 31, (In millions) 2022 2021 Gross revenues Ag Services and Oilseeds $ 19,132 $ 15,939 Carbohydrate Solutions 4,180 2,634 Nutrition 1,966 1,624 Other Business 107 100 Intersegment elimination (1,735) (1,404) Total gross revenues $ 23,650 $ 18,893 Intersegment sales Ag Services and Oilseeds $ 879 $ 932 Carbohydrate Solutions 814 411 Nutrition 42 61 Total intersegment sales $ 1,735 $ 1,404 Revenues from external customers Ag Services and Oilseeds Ag Services $ 11,847 $ 10,146 Crushing 3,222 2,742 Refined Products and Other 3,184 2,119 Total Ag Services and Oilseeds 18,253 15,007 Carbohydrate Solutions Starches and Sweeteners 2,498 1,745 Vantage Corn Processors 868 478 Total Carbohydrate Solutions 3,366 2,223 Nutrition Human Nutrition 958 754 Animal Nutrition 966 809 Total Nutrition 1,924 1,563 Other Business 107 100 Total revenues from external customers $ 23,650 $ 18,893 Three Months Ended March 31, (In millions) 2022 2021 Segment operating profit Ag Services and Oilseeds $ 1,008 $ 777 Carbohydrate Solutions 317 259 Nutrition 189 154 Other Business 42 9 Specified Items: Gains on sales of assets and businesses 1 — Impairment, restructuring, and settlement charges (1) (18) (94) Total segment operating profit 1,539 1,105 Corporate (268) (281) Earnings before income taxes $ 1,271 $ 824 (1) Current charges related to the impairment of certain Ukraine assets partially offset by an insurance settlement. Prior quarter charges were related to the impairment of certain long-lived assets, restructuring, and a legal settlement.

Asset Impairment, Exit, and Res

Asset Impairment, Exit, and Restructuring Costs	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 consisted of immaterial charges. Asset impairment, exit, and restructuring costs in the three months ended March 31, 2021 consisted of $31 million of impairments related to certain long-lived assets and $23 million of restructuring charges, presented as specified items within segment operating profit, and $5 million of restructuring charges in Corporate.

Sale of Accounts Receivable

Sale of Accounts Receivable	3 Months Ended
	Mar. 31, 2022
Transfers and Servicing [Abstract]
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”). 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 $1.6 billion 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). 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 $0.7 billion (€0.6 billion) for the accounts receivables transferred. The Second Program terminates on February 16, 2023, 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 acts as a servicer for the transferred receivables. At March 31, 2022 and December 31, 2021, 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 cost of servicing the receivables sold. As of March 31, 2022 and December 31, 2021, the fair value of trade receivables transferred to the Purchasers under the Programs and derecognized from the Company’s consolidated balance sheets was $2.3 billion and $2.2 billion, respectively. Total receivables sold were $14.3 billion and $12.1 billion for the three months ended March 31, 2022 and 2021, respectively. Cash collections from customers on receivables sold were $13.7 billion and $10.5 billion for the three months ended March 31, 2022 and 2021, respectively. As of March 31, 2022 and December 31, 2021, receivables pledged as collateral to the Purchasers were $0.8 billion and $0.5 billion, respectively. Transfers of receivables under the Programs resulted in an expense for the loss on sale of $5 million and $4 million for the three months ended March 31, 2022 and 2021, respectively, which is classified as selling, general, and administrative expenses in the consolidated statements of earnings. All cash flows under the Programs 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.

Revenues Revenues (Policies)

Revenues Revenues (Policies)	3 Months Ended
	Mar. 31, 2022
Revenues [Abstract]
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition The Company principally generates revenue from merchandising and transporting agricultural commodities, and manufacturing 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 $175 million and $104 million for the three months ended March 31, 2022 and 2021, 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 transaction prices or as a component of revenues and cost of products sold.

Revenues Revenues (Tables)

Revenues Revenues (Tables)	3 Months Ended
	Mar. 31, 2022
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 months ended March 31, 2022 and 2021. Three Months Ended March 31, 2022 Topic 606 Revenue Topic 815 (1) Total Point in Time Over Time Total Revenue Revenues (In millions) Ag Services and Oilseeds Ag Services $ 970 $ 175 $ 1,145 $ 10,702 $ 11,847 Crushing 125 — 125 3,097 3,222 Refined Products and Other 632 — 632 2,552 3,184 Total Ag Services and Oilseeds 1,727 175 1,902 16,351 18,253 Carbohydrate Solutions Starches and Sweeteners 1,930 — 1,930 568 2,498 Vantage Corn Processors 868 — 868 — 868 Total Carbohydrate Solutions 2,798 — 2,798 568 3,366 Nutrition Human Nutrition 958 — 958 — 958 Animal Nutrition 966 — 966 — 966 Total Nutrition 1,924 — 1,924 — 1,924 Other Business 107 — 107 — 107 Total Revenues $ 6,556 $ 175 $ 6,731 $ 16,919 $ 23,650 Three Months Ended March 31, 2021 Topic 606 Revenue Topic 815 (1) Total Point in Time Over Time Total Revenue Revenues (In millions) Ag Services and Oilseeds Ag Services $ 662 $ 104 $ 766 $ 9,380 $ 10,146 Crushing 124 — 124 2,618 2,742 Refined Products and Other 512 — 512 1,607 2,119 Total Ag Services and Oilseeds 1,298 104 1,402 13,605 15,007 Carbohydrate Solutions Starches and Sweeteners 1,361 — 1,361 384 1,745 Vantage Corn Processors 478 — 478 — 478 Total Carbohydrate Solutions 1,839 — 1,839 384 2,223 Nutrition Human Nutrition 754 — 754 — 754 Animal Nutrition 809 — 809 — 809 Total Nutrition 1,563 — 1,563 — 1,563 Other Business 100 — 100 — 100 Total Revenues $ 4,800 $ 104 $ 4,904 $ 13,989 $ 18,893

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 and December 31, 2021. Fair Value Measurements at March 31, 2022 Quoted Prices in Significant Significant Total (In millions) Assets: Inventories carried at market $ — $ 8,033 $ 3,959 $ 11,992 Unrealized derivative gains: Commodity contracts — 1,578 828 2,406 Foreign currency contracts — 461 — 461 Interest rate contracts — 67 — 67 Cash equivalents 419 — — 419 Segregated investments 1,548 — — 1,548 Total Assets $ 1,967 $ 10,139 $ 4,787 $ 16,893 Liabilities: Unrealized derivative losses: Commodity contracts $ — $ 1,544 $ 1,856 $ 3,400 Foreign currency contracts — 238 — 238 Interest rate contracts — 1 — 1 Debt conversion option — — 30 30 Inventory-related payables — 1,860 53 1,913 Total Liabilities $ — $ 3,643 $ 1,939 $ 5,582 Fair Value Measurements at December 31, 2021 Significant Significant Total (In millions) Assets: Inventories carried at market $ — $ 6,765 $ 3,004 $ 9,769 Unrealized derivative gains: Commodity contracts — 902 460 1,362 Foreign currency contracts — 238 — 238 Interest rate contracts — 46 — 46 Cash equivalents 448 — — 448 Segregated investments 1,338 — — 1,338 Total Assets $ 1,786 $ 7,951 $ 3,464 $ 13,201 Liabilities: Unrealized derivative losses: Commodity contracts $ — $ 944 $ 815 $ 1,759 Foreign currency contracts — 191 — 191 Debt conversion option — — 15 15 Inventory-related payables — 859 106 965 Total Liabilities $ — $ 1,994 $ 936 $ 2,930
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 March 31, 2022. Level 3 Fair Value Asset Measurements at March 31, 2022 Inventories Commodity Total Assets (In millions) Balance, December 31, 2021 $ 3,004 $ 460 $ 3,464 Total increase (decrease) in net realized/unrealized gains included in cost of products sold* 647 633 1,280 Purchases 9,552 — 9,552 Sales (9,315) — (9,315) Settlements — (276) (276) Transfers into Level 3** 327 23 350 Transfers out of Level 3 (256) (12) (268) Ending balance, March 31, 2022 $ 3,959 $ 828 $ 4,787 * Includes increase in unrealized gains of $1.4 billion relating to Level 3 assets still held at March 31, 2022. ** Inventories carried at market includes Ukraine inventory as discussed in Note 1. 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 March 31, 2021. Level 3 Fair Value Asset Measurements at March 31, 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* 730 243 973 Purchases 6,385 — 6,385 Sales (6,632) — (6,632) Settlements — (428) (428) Transfers into Level 3 516 23 539 Transfers out of Level 3 (112) (13) (125) Ending balance, March 31, 2021 $ 3,070 $ 684 $ 3,754 * Includes increase in unrealized gains of $847 million relating to Level 3 assets still held at March 31, 2021.
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 March 31, 2022. Level 3 Fair Value Liability Measurements at March 31, 2022 Inventory- Commodity Debt Conversion Option Total Liabilities (In millions) Balance, December 31, 2021 $ 106 $ 815 $ 15 $ 936 Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense* (2) 1,376 15 1,389 Purchases 2 — — 2 Sales (53) — — (53) Settlements — (478) — (478) Transfers into Level 3 — 161 — 161 Transfers out of Level 3 — (18) — (18) Ending balance, March 31, 2022 $ 53 $ 1,856 $ 30 $ 1,939 * Includes increase in unrealized losses of $1.4 billion relating to Level 3 liabilities still held at March 31, 2022. 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 March 31, 2021. Level 3 Fair Value Liability Measurements at March 31, 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* — 381 — 20 401 Purchases 12 — — — 12 Sales (2) — — — (2) Settlements — (566) — — (566) Transfers into Level 3 — 54 11 — 65 Transfers out of Level 3 — (139) — — (139) Ending balance, March 31, 2021 $ 21 $ 648 $ 11 $ 54 $ 734 * Includes increase in unrealized losses of $383 million relating to Level 3 liabilities still held at March 31, 2021.
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 March 31, 2022 and December 31, 2021. 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 March 31, 2022 is a weighted average 28.9% of the total price for assets and 13.9% of the total price for liabilities. Weighted Average % of Total Price March 31, 2022 December 31, 2021 Component Type Assets Liabilities Assets Liabilities Inventories and Related Payables Basis 28.9 % 13.9 % 28.7 % 13.1 % Transportation cost 11.4 % — % 13.0 % — % Commodity Derivative Contracts Basis 22.1 % 22.5 % 30.0 % 27.1 % Transportation cost 9.1 % 2.6 % 8.1 % 0.7 %

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 and December 31, 2021. March 31, 2022 December 31, 2021 Assets Liabilities Assets Liabilities (In millions) Foreign Currency Contracts $ 437 $ 190 $ 217 $ 116 Interest Rate Contracts 2 1 — — Commodity Contracts 2,280 3,400 1,276 1,759 Debt Conversion Option — 30 — 15 Total $ 2,719 $ 3,621 $ 1,493 $ 1,890 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 months ended March 31, 2022 and 2021. Other expense (income) - net Cost of Interest (In millions) Revenues products sold expense Three Months Ended March 31, 2022 Consolidated Statement of Earnings $ 23,650 $ 21,753 $ (33) $ 92 Pre-tax gains (losses) on: Foreign Currency Contracts $ (38) $ 443 $ 23 $ — Commodity Contracts — (1,101) — — Debt Conversion Option — — — (15) Total gain (loss) recognized in earnings $ (38) $ (658) $ 23 $ (15) $ (688) Three Months Ended March 31, 2021 Consolidated Statement of Earnings $ 18,893 $ 17,345 $ (33) $ 87 Pre-tax gains (losses) on: Foreign Currency Contracts $ 30 $ (262) $ 120 $ — Commodity Contracts — (782) — — Debt Conversion Option — — — (20) Total gain (loss) recognized in earnings $ 30 $ (1,044) $ 120 $ (20) $ (914) The following table sets forth the fair value of derivatives designated as hedging instruments as of March 31, 2022 and December 31, 2021. March 31, 2022 December 31, 2021 Assets Liabilities Assets Liabilities (In millions) Commodity Contracts $ 126 $ — $ 86 $ — Foreign Currency Contracts 24 48 21 $ 75 Interest Rate Contracts 65 — 46 — Total $ 215 $ 48 $ 153 $ 75 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 months ended March 31, 2022 and 2021. Cost of products sold (In millions) Revenues Three Months Ended March 31, 2022 Consolidated Statement of Earnings $ 23,650 $ 21,753 Effective amounts recognized in earnings Pre-tax gains (losses) on: Commodity Contracts $ — $ 98 Total gain (loss) recognized in earnings $ — $ 98 $ 98 Three Months Ended March 31, 2021 Consolidated Statement of Earnings $ 18,893 $ 17,345 Effective amounts recognized in earnings Pre-tax gains (losses) on: Commodity Contracts $ — $ 89 Interest Contracts (14) — Total gain (loss) recognized in earnings $ (14) $ 89 $ 75

Other Current Assets (Tables)

Other Current Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Other Assets [Abstract]
Other Current Assets	The following table sets forth the items in other current assets: March 31, December 31, 2022 2021 (In millions) Unrealized gains on derivative contracts $ 2,934 $ 1,646 Margin deposits and grain accounts 1,112 600 Customer omnibus receivable 1,539 1,179 Financing receivables - net (1) 233 189 Insurance premiums receivable 26 20 Prepaid expenses 377 370 Biodiesel tax credit 70 79 Tax receivables 764 708 Non-trade receivables (2) 421 285 Other current assets 241 82 $ 7,717 $ 5,158 (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 $5 million and $4 million at March 31, 2022 and December 31, 2021, respectively. Interest earned on financing receivables of $4 million for the three months ended March 31, 2022 and 2021, respectively, is included in investment income in the consolidated statements of earnings. (2) Non-trade receivables included $27 million of reinsurance recoverables as of March 31, 2022 and December 31, 2021, respectively.

Accrued Expenses And Other Pa_2

Accrued Expenses And Other Payables (Tables)	3 Months Ended
	Mar. 31, 2022
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: March 31, December 31, 2022 2021 (In millions) Unrealized losses on derivative contracts $ 3,639 $ 1,950 Accrued compensation 332 445 Income tax payable 211 132 Other taxes payable 178 168 Insurance claims payable 235 220 Contract liability 574 581 Other accruals and payables 1,194 1,294 $ 6,363 $ 4,790

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (AOCI) (Tables)	3 Months Ended
	Mar. 31, 2022
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 months ended March 31, 2022 and the reclassifications out of AOCI for the three months ended March 31, 2022 and 2021: Three months ended March 31, 2022 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, 2021 $ (2,248) $ 225 $ (147) $ (2) $ (2,172) Other comprehensive income (loss) before reclassifications 31 380 6 (5) 412 Gain (loss) on net investment hedges 123 — — — 123 Amounts reclassified from AOCI — (98) 31 — (67) Tax effect (31) (47) (7) — (85) Net of tax amount 123 235 30 (5) 383 Balance at March 31, 2022 $ (2,125) $ 460 $ (117) $ (7) $ (1,789)
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Amount reclassified from AOCI Three months ended March 31, Affected line item in the consolidated statements of earnings Details about AOCI components 2022 2021 (In millions) Deferred loss (gain) on hedging activities $ — $ 14 Revenues (98) (89) Cost of products sold (98) (75) Total before tax 19 21 Tax $ (79) $ (54) Net of tax Pension liability adjustment Amortization of defined benefit pension items: Prior service loss (credit) $ 8 $ (6) Other (income) expense-net Actuarial losses 23 16 Other (income) expense-net 31 10 Total before tax (6) (4) Tax $ 25 $ 6 Net of tax

Other (Income) Expense - Net (T

Other (Income) Expense - Net (Tables)	3 Months Ended
	Mar. 31, 2022
Other Income and Expenses [Abstract]
Other (Income) Expense - Net	The following table sets forth the items in other (income) expense: Three Months Ended March 31, 2022 2021 (In millions) Gains on sales of assets $ — $ (11) Other – net (33) (22) Other (Income) Expense - Net $ (33) $ (33)

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Information	Three Months Ended March 31, (In millions) 2022 2021 Gross revenues Ag Services and Oilseeds $ 19,132 $ 15,939 Carbohydrate Solutions 4,180 2,634 Nutrition 1,966 1,624 Other Business 107 100 Intersegment elimination (1,735) (1,404) Total gross revenues $ 23,650 $ 18,893 Intersegment sales Ag Services and Oilseeds $ 879 $ 932 Carbohydrate Solutions 814 411 Nutrition 42 61 Total intersegment sales $ 1,735 $ 1,404 Revenues from external customers Ag Services and Oilseeds Ag Services $ 11,847 $ 10,146 Crushing 3,222 2,742 Refined Products and Other 3,184 2,119 Total Ag Services and Oilseeds 18,253 15,007 Carbohydrate Solutions Starches and Sweeteners 2,498 1,745 Vantage Corn Processors 868 478 Total Carbohydrate Solutions 3,366 2,223 Nutrition Human Nutrition 958 754 Animal Nutrition 966 809 Total Nutrition 1,924 1,563 Other Business 107 100 Total revenues from external customers $ 23,650 $ 18,893 Three Months Ended March 31, (In millions) 2022 2021 Segment operating profit Ag Services and Oilseeds $ 1,008 $ 777 Carbohydrate Solutions 317 259 Nutrition 189 154 Other Business 42 9 Specified Items: Gains on sales of assets and businesses 1 — Impairment, restructuring, and settlement charges (1) (18) (94) Total segment operating profit 1,539 1,105 Corporate (268) (281) Earnings before income taxes $ 1,271 $ 824 (1) Current charges related to the impairment of certain Ukraine assets partially offset by an insurance settlement. Prior quarter charges were related to the impairment of certain long-lived assets, restructuring, and a legal settlement.

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Details)	3 Months Ended
	Mar. 31, 2022USD ($)employee$ / shares	Mar. 31, 2021USD ($)$ / shares	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount	$ 137,000,000		$ 122,000,000
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense	22,000,000	$ 4,000,000
Cost of Revenue	(21,753,000,000)	(17,345,000,000)
Net Income (Loss) Attributable to Parent	$ 1,054,000,000	$ 689,000,000
Earnings Per Share, Diluted | $ / shares	$ 1.86	$ 1.22
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ (23,755,000,000)	$ (20,861,000,000)	(22,508,000,000)	$ (20,022,000,000)
Gain (Loss) on Investments	34,000,000	0
Equity Securities, FV-NI and without Readily Determinable Fair Value	$ 434,000,000		297,000,000
UKRAINE
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Entity Number of Employees | employee	650
Retained Earnings [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ (22,483,000,000)	$ (20,261,000,000)	$ (21,655,000,000)	$ (19,780,000,000)

Revenues (Details)

Revenues (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 23,650	$ 18,893
Contract with Customer, Liability [Abstract]
Contract with Customer, Liability	574		$ 581
Change in Contract with Customer, Liability [Abstract]
Contract with Customer Liability Revenue Recognized with Opening Balance	324	282
Ag Services and Oilseeds [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	18,253	15,007
Ag Services [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	11,847	10,146
Crushing [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	3,222	2,742
Refined Products and Other [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	3,184	2,119
Carbohydrate Solutions [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	3,366	2,223
Starches and sweeteners [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	2,498	1,745
VCP [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	868	478
Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,924	1,563
Human Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	958	754
Animal Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	966	809
Other [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	107	100
Non MTM Products and Services [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	6,731	4,904
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	6,556	4,800
Non MTM Products and Services [Member] | Transferred over Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	175	104
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	1,902	1,402
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	1,727	1,298
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	175	104
Non MTM Products and Services [Member] | Ag Services [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,145	766
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	970	662
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	175	104
Non MTM Products and Services [Member] | Crushing [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	125	124
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	125	124
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	632	512
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	632	512
Non MTM Products and Services [Member] | Carbohydrate Solutions [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	2,798	1,839
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	2,798	1,839
Non MTM Products and Services [Member] | Starches and sweeteners [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,930	1,361
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	1,930	1,361
Non MTM Products and Services [Member] | VCP [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	868	478
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	868	478
Non MTM Products and Services [Member] | Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,924	1,563
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	1,924	1,563
Non MTM Products and Services [Member] | Human Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	958	754
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	958	754
Non MTM Products and Services [Member] | Animal Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	966	809
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	966	809
Non MTM Products and Services [Member] | Other [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	107	100
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	107	100
Mark-to-Market Products [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	16,919	13,989
Mark-to-Market Products [Member] | Ag Services and Oilseeds [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	16,351	13,605
Mark-to-Market Products [Member] | Ag Services [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	10,702	9,380
Mark-to-Market Products [Member] | Crushing [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	3,097	2,618
Mark-to-Market Products [Member] | Refined Products and Other [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	2,552	1,607
Mark-to-Market Products [Member] | Carbohydrate Solutions [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	568	384
Mark-to-Market Products [Member] | Starches and sweeteners [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 568	$ 384

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Fair Value Measurements [Line Items]
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss)	$ (1,400)	$ (383)
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)	$ 1,400	$ 847
Weighted Average [Member] | Fair Value, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Inventory Related Payables [Member]
Fair Value Measurements [Line Items]
Basis	13.90%		13.10%
Weighted Average [Member] | Fair Value, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Inventories Carried At Market [Member]
Fair Value Measurements [Line Items]
Basis	28.90%		28.70%

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Measurements At Reporting Date) (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Assets:
Derivative Asset	$ 2,934	$ 1,646
Liabilities:
Derivative Liability	3,639	1,950
Fair Value, Recurring [Member]
Assets:
Inventories carried at market	11,992	9,769
Cash Equivalents, at Carrying Value	419	448
Restricted Investments, at Fair Value	1,548	1,338
Total Assets	16,893	13,201
Liabilities:
Inventory-related payables	1,913	965
Total Liabilities	5,582	2,930
Fair Value, Recurring [Member] | Commodity Contracts [Member]
Assets:
Derivative Asset	2,406	1,362
Liabilities:
Derivative Liability	3,400	1,759
Fair Value, Recurring [Member] | Foreign Exchange Contracts [Member]
Assets:
Derivative Asset	461	238
Liabilities:
Derivative Liability	238	191
Fair Value, Recurring [Member] | Interest Rate Contracts [Member]
Assets:
Derivative Asset	67	46
Liabilities:
Derivative Liability	1
Fair Value, Recurring [Member] | Embedded Derivative Financial Instruments [Member]
Liabilities:
Derivative Liability	30	15
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	419	448
Restricted Investments, at Fair Value	1,548	1,338
Total Assets	1,967	1,786
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
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	8,033	6,765
Cash Equivalents, at Carrying Value	0	0
Restricted Investments, at Fair Value	0	0
Total Assets	10,139	7,951
Liabilities:
Inventory-related payables	1,860	859
Total Liabilities	3,643	1,994
Fair Value, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Commodity Contracts [Member]
Assets:
Derivative Asset	1,578	902
Liabilities:
Derivative Liability	1,544	944
Fair Value, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Foreign Exchange Contracts [Member]
Assets:
Derivative Asset	461	238
Liabilities:
Derivative Liability	238	191
Fair Value, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Interest Rate Contracts [Member]
Assets:
Derivative Asset	67	46
Liabilities:
Derivative Liability	1
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	3,959	3,004
Cash Equivalents, at Carrying Value	0	0
Restricted Investments, at Fair Value	0	0
Total Assets	4,787	3,464
Liabilities:
Inventory-related payables	53	106
Total Liabilities	1,939	936
Fair Value, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Commodity Contracts [Member]
Assets:
Derivative Asset	828	460
Liabilities:
Derivative Liability	1,856	815
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
Fair Value, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Embedded Derivative Financial Instruments [Member]
Liabilities:
Derivative Liability	$ 30	$ 15

Fair Value Measurements (Reconc

Fair Value Measurements (Reconciliation Of Assets Measured At Fair Value On A Recurring Basis) (Details) - Significant Unobservable Inputs (Level 3) [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	$ 3,464	$ 3,042
Total increase (decrease) in unrealized gains included in cost of products sold	1,280	973
Purchases	9,552	6,385
Sales	(9,315)	(6,632)
Settlements	(276)	(428)
Transfers into Level 3	350	539
Transfers out of Level 3	(268)	(125)
Balance at end of period	4,787	3,754
Inventories Carried At Market [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	3,004	2,183
Total increase (decrease) in unrealized gains included in cost of products sold	647	730
Purchases	9,552	6,385
Sales	(9,315)	(6,632)
Settlements	0	0
Transfers into Level 3	327	516
Transfers out of Level 3	(256)	(112)
Balance at end of period	3,959	3,070
Commodity Derivative Contracts Gains [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	460	859
Total increase (decrease) in unrealized gains included in cost of products sold	633	243
Purchases	0	0
Sales	0	0
Settlements	(276)	(428)
Transfers into Level 3	23	23
Transfers out of Level 3	(12)	(13)
Balance at end of period	$ 828	$ 684

Fair Value Measurements (Reco_2

Fair Value Measurements (Reconciliation Of Liabilities Measured At Fair Value On A Recurring Basis) (Details) - Significant Unobservable Inputs (Level 3) [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	$ 936	$ 963
Total increase (decrease) in unrealized losses included in cost of products sold	1,389	401
Purchases	2	12
Sales	(53)	(2)
Settlements	(478)	(566)
Transfers into Level 3	161	65
Transfers out of Level 3	(18)	(139)
Balance at end of period	1,939	734
Long-term Debt [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	15	34
Total increase (decrease) in unrealized losses included in cost of products sold	15	20
Purchases	0	0
Balance at end of period	30	54
Inventory Related Payables [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	106	11
Total increase (decrease) in unrealized losses included in cost of products sold	(2)	0
Purchases	2	12
Sales	(53)	(2)
Settlements	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Balance at end of period	53	21
Commodity Derivative Contracts Losses [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	815	918
Total increase (decrease) in unrealized losses included in cost of products sold	1,376	381
Purchases	0	0
Sales	0	0
Settlements	(478)	(566)
Transfers into Level 3	161	54
Transfers out of Level 3	(18)	(139)
Balance at end of period	$ 1,856	648
Foreign Exchange Contracts [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period		0
Transfers into Level 3		11
Balance at end of period		$ 11

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]	Mar. 31, 2022	Dec. 31, 2021
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	13.90%	13.10%
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	22.50%	27.10%
Transportation cost	2.60%	0.70%
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	28.90%	28.70%
Transportation cost	11.40%	13.00%
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	22.10%	30.00%
Transportation cost	9.10%	8.10%

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities (Narrative) (Details) bu in Millions, $ in Millions, € in Billions	3 Months Ended
	Mar. 31, 2022EUR (€)	Mar. 31, 2021USD ($)	Mar. 31, 2021EUR (€)	Mar. 31, 2022USD ($)galbu	Dec. 31, 2021USD ($)
Derivative [Line Items]
Unrealized gain (loss) on interest rate cash flow hedges, after-tax, AOCI				$ 49	$ 35
Corn processed per month (in bushels) | bu				65
Notional Amount of Nonderivative Instruments | €	€ 2.6		€ 1.8
Foreign Debt used in Net Investment Hedge, Net of Tax				$ 113	55
Financing Receivable, Allowance for Credit Loss				5	4
Designated As Hedging Instrument [Member]
Derivative [Line Items]
Unrealized Gain (Loss) on Price Risk Cash Flow Hedges, after Tax, Accumulated Other Comprehensive Income				370	161
Interest Rate Derivative Assets, at Fair Value				65	46
After-tax gains (losses) in AOCI from commodity cash flow hedge transactions				$ 370
Designated As Hedging Instrument [Member] | Revenues [Member]
Derivative [Line Items]
Interest contracts effective amount recognized in earnings		$ (14)
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)				17.00%
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent)				0.00%
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)				42.00%
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent)				29.00%
Ethanol [Member] | Designated As Hedging Instrument [Member]
Derivative [Line Items]
Commodity hedged during historical hedging period, (in gallons) | gal				0
Commodity hedged over future hedging period, (in gallons) | gal				0
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)				57.00%
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent)				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%
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent)				100.00%
Natural Gas | Designated As Hedging Instrument [Member]
Derivative [Line Items]
Derivative Hedged Item Time Period	12 months
Natural Gas | 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)				0.00%
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent)				0.00%
Natural Gas | 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)				84.00%
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent)				95.00%
Net Investment Hedging [Member]
Derivative [Line Items]
Derivatives used in Net Investment Hedge, Net of Tax				$ 24	44
Net Investment Hedging [Member] | Currency Swap [Member]
Derivative [Line Items]
Derivative Liability, Notional Amount				800	1,200
Net Investment Hedging [Member] | Foreign Exchange Forward [Member]
Derivative [Line Items]
Derivative Liability, Notional Amount				2,300	2,600
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Revenues [Member]
Derivative [Line Items]
Derivative Asset, Notional Amount				1,000	1,000
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Interest Expense [Member]
Derivative [Line Items]
Derivative Asset, Notional Amount				$ 400	$ 400

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities (Fair Value Of Derivatives Not Designated As Hedging Instruments) (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Not Designated As Hedging Instrument [Member]
Derivative [Line Items]
FX Contracts Assets	$ 437	$ 217
Embedded Derivative, Fair Value of Embedded Derivative Asset	0	0
Commodity Contracts Assets	2,280	1,276
Total fair value of derivative assets not designated as hedging instruments	2,719	1,493
FX Contracts Liabilities	190	116
Interest Rate Derivative Liabilities, at Fair Value	1	0
Commodity Contracts Liabilities	3,400	1,759
Embedded Derivative, Fair Value of Embedded Derivative Liability	30	15
Total fair value of derivative liabilities not designated as hedging instruments.	3,621	1,890
Interest Rate Derivative Assets, at Fair Value	2	0
Designated As Hedging Instrument [Member]
Derivative [Line Items]
Interest Rate Derivative Liabilities, at Fair Value	0	0
Interest Rate Derivative Assets, at Fair Value	$ 65	$ 46

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
	Mar. 31, 2022	Mar. 31, 2021
Derivative [Line Items]
Revenues	$ 23,650	$ 18,893
Cost of Products Sold	21,753	17,345
Other (Income) Expense - Net	(33)	(33)
Interest Expense	92	87
Total gain (loss) recognized in earnings	(688)	(914)
Revenues [Member]
Derivative [Line Items]
FX Contracts	(38)	30
Total gain (loss) recognized in earnings	(38)	30
Cost of Products Sold [Member]
Derivative [Line Items]
FX Contracts	443	(262)
Commodity Contracts	(1,101)	(782)
Total gain (loss) recognized in earnings	(658)	(1,044)
Interest Expense [Member]
Derivative [Line Items]
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net	(15)	(20)
Total gain (loss) recognized in earnings	(15)	(20)
Other (Income) Expense - Net [Member]
Derivative [Line Items]
FX Contracts	23	120
Commodity Contracts	0	0
Total gain (loss) recognized in earnings	$ 23	$ 120

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	Mar. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Assets, Fair Value	$ 24	$ 21
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Liabilities, Fair Value	48	75
Interest Rate Derivative Assets, at Fair Value	65	46
Interest Rate Derivative Liabilities, at Fair Value	0	0
Derivative Instruments in Hedges, Assets, at Fair Value	215	153
Derivative Instruments in Hedges, Liabilities, at Fair Value	48	75
Price Risk Cash Flow Hedge Asset, at Fair Value	126	86
Price Risk Fair Value Hedge Liability, at Fair Value	$ 0	$ 0

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
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments, Gains (Loss) [Line Items]
Revenues	$ 23,650	$ 18,893
Cost of Products Sold	21,753	17,345
Interest Expense	92	87
Other (Income) Expense - Net	(33)	(33)
Designated As Hedging Instrument [Member]
Derivative Instruments, Gains (Loss) [Line Items]
Total amount recognized in earnings	98	75
Designated As Hedging Instrument [Member] | Revenues [Member]
Derivative Instruments, Gains (Loss) [Line Items]
Interest contracts effective amount recognized in earnings		(14)
Commodity Contracts effective amount recognized in earnings	0	0
Total amount recognized in earnings	0	(14)
Designated As Hedging Instrument [Member] | Cost of Products Sold [Member]
Derivative Instruments, Gains (Loss) [Line Items]
Commodity Contracts effective amount recognized in earnings	98	89
Total amount recognized in earnings	$ 98	$ 89

Other Current Assets (Details)

Other Current Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Other Assets [Abstract]
Derivative Asset	$ 2,934	$ 1,646
Margin Deposit Assets	1,112	600
Receivables from Customers	1,539	1,179
Financing Receivable, after Allowance for Credit Loss	233	189
Premiums Receivable, Net	26	20
Prepaid Expense, Current	377	370
Biodiesel tax credit	70	79
Tax receivables	764	708
Other Receivables	421	285
Other current assets	241	82
Total other current assets	7,717	5,158
Financing Receivable, Allowance for Credit Loss	5	4
Interest on financing receivables	4
Reinsurance Recoverables	$ 27	$ 27

Accrued Expenses And Other Pa_3

Accrued Expenses And Other Payables (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Accrued Liabilities and Other Liabilities [Abstract]
Derivative Liability	$ 3,639	$ 1,950
Employee-related Liabilities	332	445
Accrued Income Taxes, Current	211	132
Accrual for Taxes Other than Income Taxes, Current	178	168
Liability for Claims and Claims Adjustment Expense	235	220
Contract with Customer, Liability	574	581
Accrued expenses and other payables	1,194	1,294
Total accrued expenses and other payables	$ 6,363	$ 4,790

Debt And Financing Arrangemen_2

Debt And Financing Arrangements (Narrative) (Details) - USD ($)	Feb. 28, 2022	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Excess of fair value over carrying value of long-term debt		$ 1,000,000,000
Short-term Debt
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 1,500,000,000
Debt Instrument, Interest Rate, Stated Percentage		1.64%
Line of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 14,300,000,000
Unused lines of credit		8,200,000,000
Commercial Paper [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		6,500,000,000	$ 5,000,000,000
Commercial Paper		700,000,000
Accounts Receivable Securitization Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		2,300,000,000
Unused lines of credit		24,000,000
Two Point Nine Percent due 2032
Debt Instrument [Line Items]
Debt Instrument, Issuance Date	Feb. 28, 2022
Debt Instrument, Face Amount		$ 750,000,000
Debt Instrument, Interest Rate, Stated Percentage		2.90%
Proceeds from Issuance of Unsecured Debt	$ 748,000,000
Debt Instrument, Maturity Date	Mar. 1, 2032
Not Designated as Hedging Instrument [Member]
Debt Instrument [Line Items]
Interest Rate Derivative Liabilities, at Fair Value		$ 1,000,000	$ 0

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Contingency [Line Items]
Effective income tax rate	16.30%	15.90%
Argentine Tax Authorities [Member]
Income Tax Contingency [Line Items]
Income tax assessment	$ 8
Income tax assessment - Interest and Penalties	36
Estimated Additional Tax Assessment	104
Additional income tax assessment - Interest and Penalties	42
Tax and Customs Administration, Netherlands [Member]
Income Tax Contingency [Line Items]
Income tax assessment	90
Additional income tax assessment - Interest and Penalties	$ 32

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (AOCI) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance of Accumulated Other Comprehensive Income (Loss) at Beginning of Period	$ (2,172)
Other comprehensive income (loss) before reclassifications	412
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax	123
Amounts reclassified from AOCI	(67)
Other comprehensive income (loss), tax, portion attributable to parent	(85)
Other Comprehensive Income (Loss), Net of Tax	383
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	(1,789)
Foreign Currency Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance of Accumulated Other Comprehensive Income (Loss) at Beginning of Period	(2,248)
Other comprehensive income (loss) before reclassifications	31
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax	123
Amounts reclassified from AOCI	0
Other comprehensive income (loss), tax, portion attributable to parent	(31)
Other Comprehensive Income (Loss), Net of Tax	123
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	(2,125)
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	225
Other comprehensive income (loss) before reclassifications	380
Amounts reclassified from AOCI	(98)
Other comprehensive income (loss), tax, portion attributable to parent	(47)
Other Comprehensive Income (Loss), Net of Tax	235
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	460
Pension Liability Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance of Accumulated Other Comprehensive Income (Loss) at Beginning of Period	(147)
Other comprehensive income (loss) before reclassifications	6
Amounts reclassified from AOCI	31
Other comprehensive income (loss), tax, portion attributable to parent	(7)
Other Comprehensive Income (Loss), Net of Tax	30
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	(117)
Unrealized Gain (Loss) On Investments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance of Accumulated Other Comprehensive Income (Loss) at Beginning of Period	(2)
Other comprehensive income (loss) before reclassifications	(5)
Amounts reclassified from AOCI	0
Other comprehensive income (loss), tax, portion attributable to parent	0
Other Comprehensive Income (Loss), Net of Tax	(5)
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	$ (7)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (AOCI) Components (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Earnings Before Income Taxes	$ (1,271)	$ (824)
Income taxes	(207)	(131)
Net Earnings Including Noncontrolling Interests	(1,064)	(693)
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	(98)	(75)
Income taxes	(19)	(21)
Net Earnings Including Noncontrolling Interests	(79)	(54)
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	31	10
Income taxes	6	4
Net Earnings Including Noncontrolling Interests	25	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	0	14
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	(98)	(89)
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)	8	(6)
Actuarial Losses	$ 23	$ 16

Other (Income) Expense (Details

Other (Income) Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Gain (Loss) on Sale and Revaluation of Assets	$ 0	$ 11
Other - net	(33)	(22)
Other (Income) Expense - Net	(33)	(33)
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component	$ (6)	$ (6)

Segment Information (Narrative)

Segment Information (Narrative) (Details)	3 Months Ended
	Mar. 31, 2022segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segment Information (Segment In

Segment Information (Segment Information) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Information
Revenues	$ (23,650)	$ (18,893)
Earnings Before Income Taxes	1,271	824
Ag Services and Oilseeds [Member]
Segment Information
Revenues	(18,253)	(15,007)
Earnings Before Income Taxes	1,008	777
Ag Services [Member]
Segment Information
Revenues	(11,847)	(10,146)
Crushing [Member]
Segment Information
Revenues	(3,222)	(2,742)
Refined Products and Other [Member]
Segment Information
Revenues	(3,184)	(2,119)
Carbohydrate Solutions [Member]
Segment Information
Revenues	(3,366)	(2,223)
Earnings Before Income Taxes	317	259
Starches and sweeteners [Member]
Segment Information
Revenues	(2,498)	(1,745)
VCP [Member]
Segment Information
Revenues	(868)	(478)
Nutrition [Member]
Segment Information
Revenues	(1,924)	(1,563)
Earnings Before Income Taxes	189	154
Human Nutrition [Member]
Segment Information
Revenues	(958)	(754)
Animal Nutrition [Member]
Segment Information
Revenues	(966)	(809)
Other [Member]
Segment Information
Revenues	(107)	(100)
Earnings Before Income Taxes	42	9
Operating Segments [Member]
Segment Information
Earnings Before Income Taxes	1,539	1,105
Operating Segments [Member] | Ag Services and Oilseeds [Member]
Segment Information
Revenues	(19,132)	(15,939)
Operating Segments [Member] | Carbohydrate Solutions [Member]
Segment Information
Revenues	(4,180)	(2,634)
Operating Segments [Member] | Nutrition [Member]
Segment Information
Revenues	(1,966)	(1,624)
Operating Segments [Member] | Other [Member]
Segment Information
Revenues	(107)	(100)
Intersegment Elimination [Member]
Segment Information
Revenues	1,735	1,404
Intersegment Elimination [Member] | Ag Services and Oilseeds [Member]
Segment Information
Revenues	879	932
Intersegment Elimination [Member] | Carbohydrate Solutions [Member]
Segment Information
Revenues	814	411
Intersegment Elimination [Member] | Nutrition [Member]
Segment Information
Revenues	42	61
Corporate, Non-Segment [Member]
Segment Information
Earnings Before Income Taxes	(268)	(281)
Other (Income) Expense - Net [Member] | Segment Reconciling Items [Member]
Segment Information
Earnings Before Income Taxes	1	0
Asset impairment, restructuring, and settlement [Member] | Segment Reconciling Items [Member]
Segment Information
Earnings Before Income Taxes	$ (18)	$ (94)

Asset Impairment, Exit, and R_2

Asset Impairment, Exit, and Restructuring Costs (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Asset Impairment Charges And Exit Costs [Line Items]
Asset Impairment Charges	$ 31
Restructuring Charges	(23)
Corporate Segment
Asset Impairment Charges And Exit Costs [Line Items]
Asset Impairment Charges	$ 5

Sale of Accounts Receivable (Na

Sale of Accounts Receivable (Narrative) (Details) € in Billions	3 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2022EUR (€)	Dec. 31, 2021USD ($)
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	$ 2,300,000,000			$ 2,200,000,000
Proceeds from Sale of Other Receivables	13,700,000,000	$ 10,500,000,000
Loss on transfer of accounts receivables to purchasers	5,000,000	4,000,000
Amount of receivables sold	14,300,000,000	$ 12,100,000,000
Pledged Assets, Not Separately Reported, Finance Receivables	800,000,000			$ 500,000,000
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	2,300,000,000
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	1,600,000,000
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	$ 700,000,000		€ 0.6