Archer-Daniels-Midland (ADM) 10-Q 25 Apr 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2023	Apr. 24, 2023
Class of Stock [Line Items]
Entity Central Index Key	0000007084
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
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		544,634,817
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, 2023	Mar. 31, 2022
Income Statement [Abstract]
Revenues	$ 24,072	$ 23,650
Cost of Products Sold	21,992	21,753
Gross Profit	2,080	1,897
Selling, general, and administrative expenses	881	829
Asset impairment, exit, and restructuring costs	7	1
Interest Expense	147	92
Equity in (earnings) losses of unconsolidated affiliates	(174)	(204)
Interest and investment income	(134)	(59)
Other (Income) Expense - Net	(44)	(33)
Earnings Before Income Taxes	1,397	1,271
Income taxes	225	207
Net earnings including noncontrolling interests	1,172	1,064
Net Income (Loss) Attributable to Noncontrolling Interest	2	10
Net Earnings Attributable to Controlling Interests	$ 1,170	$ 1,054
Average number of shares outstanding - basic	550	566
Average number of shares outstanding - diluted	551	568
Earnings Per Share, Basic	$ 2.13	$ 1.86
Earnings Per Share, Diluted	2.12	1.86
Dividends per common share	$ 0.45	$ 0.40

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net earnings including noncontrolling interests	$ 1,172	$ 1,064
Other Comprehensive Income (Loss), before Tax
Foreign currency translation adjustment, before tax	153	149
Pension and other postretirement benefit liabilities adjustment, before tax	(26)	37
Unrealized gain (loss) on investments, before tax	4	(5)
Other Comprehensive Income (Loss), Tax
Foreign currency translation adjustment, tax effect	14	(31)
Pension and other postretirement benefit liabilities adjustment, tax effect	(13)	(7)
Unrealized gain (loss) on investments, tax effect	(1)	0
Other Comprehensive Income (Loss), Net of Tax
Foreign currency translation adjustment, net of tax	167	118
Pension and other postretirement benefit liabilities adjustment, net of tax	(39)	30
Other Comprehensive Income (Loss), Cash Flow Hedge And Net Investment Hedge, Gain (Loss), Before Reclassification, Before Tax	(104)	282
Other Comprehensive Income (Loss), Cash Flow Hedge And Net Investment Hedge, Gain (Loss), After Reclassification Adjustment, Tax	16	(47)
Other Comprehensive Income (Loss), Cash Flow Hedge And Net Investment Hedge, Gain (Loss), After Reclassification Adjustment, After Tax	(88)	235
Unrealized gain (loss) on investments, net of tax	3	(5)
Other comprehensive income (loss)	43	378
Comprehensive income (loss) including noncontrolling interests	1,215	1,442
Less: Comprehensive income (loss) attributable to noncontrolling interests	(1)	5
Comprehensive income (loss) attributable to controlling interests	$ 1,216	$ 1,437

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Current Assets
Cash and cash equivalents	$ 899	$ 1,037
Segregated cash and investments	8,736	9,010
Trade receivables	4,471	4,926
Inventories	14,771	14,771
Other current assets	5,448	5,666
Total Current Assets	34,325	35,410
Investments and Other Assets
Investments in and advances to affiliates	5,525	5,467
Goodwill and other intangible assets	6,583	6,544
Operating Lease, Right-of-Use Asset	1,025	1,088
Other assets	1,273	1,332
Total Investments and Other Assets	14,406	14,431
Property, Plant, and Equipment
Land and Land Improvements	546	502
Buildings	5,673	5,639
Machinery and equipment	19,390	19,194
Construction in progress	1,502	1,440
Gross Property, Plant, and Equipment	27,111	26,775
Accumulated depreciation	(17,040)	(16,842)
Net Property, Plant, and Equipment	10,071	9,933
Total Assets	58,802	59,774
Current Liabilities
Short-term debt	1,809	503
Trade payables	6,271	7,803
Payables to Brokerage Customers	9,430	9,856
Accrued expenses and other payables	3,981	4,795
Operating Lease, Liability, Current	287	292
Current maturities of long-term debt	952	942
Total Current Liabilities	22,730	24,191
Long-Term Liabilities
Long-term debt	7,745	7,735
Deferred income taxes	1,362	1,402
Operating Lease, Liability, Noncurrent	757	816
Other	1,011	1,014
Total Long-Term Liabilities	10,875	10,967
Redeemable Noncontrolling Interest, Equity, Carrying Amount	301	299
Shareholders' Equity
Common stock	3,106	3,147
Reinvested earnings	24,217	23,646
Accumulated other comprehensive income (loss)	(2,463)	(2,509)
Noncontrolling interests	36	33
Total Shareholders' Equity	24,896	24,317
Total Liabilities and Shareholders' Equity	$ 58,802	$ 59,774

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating Activities
Net earnings including noncontrolling interests	$ 1,172	$ 1,064
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities
Depreciation and amortization	259	257
Asset impairment charges	3	1
Deferred income taxes	47	144
Equity in earnings of affiliates, net of dividends	(113)	(159)
Stock compensation expense	65	69
Deferred cash flow hedges	(104)	283
Gain (Loss) on Disposition of Assets	(11)	(34)
Other - net	(8)	(9)
Increase (Decrease) of Restricted Investments	(935)	(482)
Changes in operating assets and liabilities, net of businesses acquired
Trade receivables	488	(937)
Inventories	52	(2,881)
Other current assets	328	(2,141)
Trade payables	(1,556)	(245)
Increase (Decrease) in Payables to Brokerage Customers	(460)	2,501
Accrued expenses and other payables	(837)	1,363
Total Operating Activities	(1,610)	(1,206)
Investing Activities
Purchases of property, plant, and equipment	(327)	(217)
Proceeds from sale of business and assets	13	5
Payments to Acquire Interest in Subsidiaries and Affiliates	(4)	(36)
Payments to Acquire Other Investments	0	(102)
Other - net	(10)	8
Total Investing Activities	(328)	(342)
Financing Activities
Long-term debt borrowings	0	750
Long-term debt payments	(2)	0
Net borrowings (payments) under lines of credit agreements	1,306	2,824
Purchases of treasury stock	(351)	0
Cash dividends	(248)	(226)
Other - net	(107)	(30)
Total Financing Activities	598	3,318
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(1,346)	1,770
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning	7,033	7,454
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending	5,687	9,224
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents [Abstract]
Cash and cash equivalents	899	1,079
Restricted Cash and Cash Equivalents	4,788	8,145
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations	$ (6)	$ 0

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, 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	0	(3)
Balance (shares) at Mar. 31, 2022		563
Balance at Mar. 31, 2022	23,755	$ 3,028	22,483	(1,789)	33
Balance (shares) at Dec. 31, 2022		547
Balance at Dec. 31, 2022	24,317	$ 3,147	23,646	(2,509)	33
Comprehensive income
Net earnings including noncontrolling interests	1,172		1,170		2
Other comprehensive income (loss)	43			46	(3)
Total comprehensive income	$ 1,215
Common Stock, Dividends, Per Share, Cash Paid	$ 0.45
Cash dividends paid	$ (248)		(248)
Stock Repurchased During Period, Value	(351)		(351)
Stock Repurchased During Period, Shares		(4)
Stock compensation expense, shares		3
Stock compensation expense	65	$ 65
Stock option exercises net of taxes, value	(108)	$ (108)
Stock option exercises net of taxes, shares		(1)
Other, shares		0
Other	6	$ 2	0	0	4
Balance (shares) at Mar. 31, 2023		545
Balance at Mar. 31, 2023	$ 24,896	$ 3,106	$ 24,217	$ (2,463)	$ 36

Consolidated Statements Of Sh_2

Consolidated Statements Of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Cash dividends paid, per share	$ 0.45	$ 0.40

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 U.S. 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 GAAP 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, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. For further information, refer to the consolidated financial statements and notes thereto included in the Annual Report on Form 10-K for the year ended December 31, 2022 for Archer-Daniels-Midland Company (the Company or ADM). 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 to reflect any loss anticipated on the accounts receivable balances including any accrued interest receivables thereon. The Company estimates uncollectible accounts by pooling receivables according to type, region, credit risk rating, and age. Each pool is assigned an expected loss co-efficient to arrive at a general reserve based on historical write-offs adjusted, as needed, for regional, economic, and other forward-looking factors. The Company minimizes credit risk due to the large and diversified nature of its worldwide customer base. ADM manages its exposure to counter-party credit risk through credit analysis and approvals, credit limits, and monitoring procedures. Long-term receivables recorded in other assets were not material to the Company’s overall receivables portfolio. Changes to the allowance for estimated uncollectible accounts are as follows: Three Months Ended March 31 2023 2022 Beginning, January 1 $ 199 $ 122 Current year provisions 4 22 Recoveries 1 1 Write-offs against allowance (24) (1) Foreign exchange translation adjustment 1 — Other 1 (7) Ending, March 31 $ 182 $ 137 Write-offs against allowance in the current quarter related primarily to allowance on receivables that were subsequently sold. Inventories Certain merchandisable agricultural commodity inventories, which include inventories acquired under deferred pricing contracts, are stated at market value. In addition, the Company values certain inventories using the first-in, first-out (FIFO) method at the lower of cost or net realizable value. The following table sets forth the Company’s inventories as of December 31, 2022 and 2021. March 31, 2023 December 31, 2022 (In millions) Raw materials and supplies $ 6,310 $ 6,975 Finished goods 8,461 7,796 Total inventories $ 14,771 $ 14,771 Included in raw materials and supplies are work in process inventories which were not material as of March 31, 2023 and December 31, 2022. Cost Method Investments Cost method investments of $489 million and $488 million as of March 31, 2023 and December 31, 2022, respectively, were included in Other Assets in the Company’s consolidated balance sheets. Revaluation gains of $34 million in the three months ended March 31, 2022 in connection with observable third-party transactions, were recorded in interest and investment income in the Company's consolidated statements of earnings. There were no revaluation gains in the three months ended March 31, 2023. Operations in Ukraine and Russia ADM employs approximately 640 people in Ukraine and operates an oilseeds crushing plant, a grain port terminal, inland and river silos, and a trading office. Facilities have been temporarily idled since February 24, 2022, most of which were brought back online by March 31, 2023, due in part to the opening of the Black Sea grain export corridor. The Company’s footprint in Russia is limited to operations related to the production and transport of essential food commodities and ingredients.

New Accounting Standards

New Accounting Standards	3 Months Ended
	Mar. 31, 2023
Accounting Changes and Error Corrections [Abstract]
Accounting Standards Update and Change in Accounting Principle [Text Block]	New Accounting Standards Effective January 1, 2023, the Company adopted the amended guidance of Accounting Standards Codification (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 ASC Topic 606, Revenue from Contracts with Customers , (Topic 606). The Company’s adoption of this amended guidance did not have an impact on its consolidated financial statements. Effective January 1, 2023, the Company adopted the amended guidance of ASC Subtopic 405-50, Liabilities - Supplier Finance Programs, which enhances the transparency of supplier finance programs. The amended guidance requires an entity (buyer) in a supplier finance program to disclose sufficient information about the program to allow a user of financial statements to understand the program’s nature, activity during the period, changes from period to period, and potential magnitude. ADM has Supplier Payable Programs (“SPP”) with financial institutions which act as its paying agents for payables due to certain of its suppliers. The Company has neither an economic interest in a supplier’s participation in the SPP nor a direct financial relationship with the financial institutions, and has concluded that its obligations to the suppliers, including amounts due and scheduled payment terms, are not impacted by their participation in the SPP. Accordingly, amounts associated with the SPP continue to be classified in current liabilities in the Company’s consolidated balance sheet and in operating activities in its consolidated statement of cash flows. The supplier invoices that have been confirmed as valid under the program require payment in full generally within 90 days of the invoice date. As of March 31, 2023 and December 31, 2022, the Company’s outstanding payment obligations that suppliers had elected to sell to the financial institutions were $247 million and $196 million, respectively. Through December 31, 2024, 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, 2024, except for hedging relationships existing as of December 31, 2024, 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, 2024 expiry date and does not expect the adoption of the amended guidance to have an impact on its consolidated financial statements.

Revenues Revenues

Revenues Revenues	3 Months Ended
	Mar. 31, 2023
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. 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 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 mode of transportation moves towards its destination in accordance with the transfer of control guidance of Topic 606. The Company recognized revenue from transportation service contracts of $178 million and $175 million for the three months ended March 31, 2023 and 2022, 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 $473 million and $694 million as of March 31, 2023 and December 31, 2022, respectively, were recorded in accrued expenses and other payables in the consolidated balance sheets. Contract liabilities recognized as revenues were $362 million and $324 million for the three months ended March 31, 2023 and 2022, 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, 2023 and 2022. Three Months Ended March 31, 2023 Topic 606 Revenue Topic 815 (1) Total (In millions) Point in Time Over Time Total Revenue Revenues Ag Services and Oilseeds Ag Services $ 1,017 $ 178 $ 1,195 $ 10,500 $ 11,695 Crushing 191 — 191 3,492 3,683 Refined Products and Other 626 — 626 2,575 3,201 Total Ag Services and Oilseeds 1,834 178 2,012 16,567 18,579 Carbohydrate Solutions Starches and Sweeteners 2,084 — 2,084 653 2,737 Vantage Corn Processors 800 — 800 — 800 Total Carbohydrate Solutions 2,884 — 2,884 653 3,537 Nutrition Human Nutrition 936 — 936 — 936 Animal Nutrition 917 — 917 — 917 Total Nutrition 1,853 — 1,853 — 1,853 Other Business 103 — 103 — 103 Total Revenues $ 6,674 $ 178 $ 6,852 $ 17,220 $ 24,072 Three Months Ended March 31, 2022 Topic 606 Revenue Topic 815 (1) Total (In millions) Point in Time Over Time Total Revenue Revenues 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 (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. 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 mode of transportation 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. The Company engages in various structured trade finance activities to leverage its global trade flows whereby the Company obtains letters of credit (LCs) to guarantee payments on both global purchases and sales of grain. LCs guaranteeing payment on grain sales are sold on a non-recourse basis with no continuing involvement. The Company earns returns from the difference in interest rates between the LCs that guarantee payment on the underlying purchases and sales of grain given the differing risk profiles of the underlying transactions. The net return related to structured trade finance activities is included in revenue and is not significant for the quarters ended March 31, 2023 and 2022. 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, 2023
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, 2023 and December 31, 2022. Fair Value Measurements at March 31, 2023 Quoted Prices in Significant Significant Total (In millions) Assets: Inventories carried at market $ — $ 5,654 $ 3,503 $ 9,157 Unrealized derivative gains: Commodity contracts — 959 649 1,608 Foreign currency contracts — 238 — 238 Cash equivalents 397 — — 397 Segregated investments 1,916 — — 1,916 Total Assets $ 2,313 $ 6,851 $ 4,152 $ 13,316 Liabilities: Unrealized derivative losses: Commodity contracts $ — $ 656 $ 455 $ 1,111 Foreign currency contracts — 211 — 211 Debt conversion option — — 1 1 Inventory-related payables — 2,235 57 2,292 Total Liabilities $ — $ 3,102 $ 513 $ 3,615 Fair Value Measurements at December 31, 2022 Significant Significant Total (In millions) Assets: Inventories carried at market $ — $ 6,281 $ 2,760 $ 9,041 Unrealized derivative gains: Commodity contracts — 796 541 1,337 Foreign currency contracts — 258 — 258 Interest rate contracts — 109 — 109 Cash equivalents 405 — — 405 Segregated investments 1,453 — — 1,453 Total Assets $ 1,858 $ 7,444 $ 3,301 $ 12,603 Liabilities: Unrealized derivative losses: Commodity contracts $ — $ 665 $ 603 $ 1,268 Foreign currency contracts — 275 — 275 Debt conversion option — — 6 6 Inventory-related payables — 1,181 89 1,270 Total Liabilities $ — $ 2,121 $ 698 $ 2,819 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 and are considered observable. Basis adjustments are impacted 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 basis adjustments. 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 and are considered observable. Basis adjustments are impacted 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 basis adjustments. 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, and 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 AOCI until the hedged items are recorded in earnings or it is probable the hedged transaction will no longer occur. The Company’s cash equivalents are comprised of money market funds valued using quoted market prices and are classified as Level 1. The Company’s segregated investments are comprised of U.S. Treasury securities. U.S. Treasury securities are valued using quoted market prices and are classified in Level 1. The debt conversion option is the equity linked embedded derivative related to the exchangeable bonds. 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, 2023. Level 3 Fair Value Asset Measurements at March 31, 2023 Inventories Commodity Total Assets (In millions) Balance, December 31, 2022 $ 2,760 $ 541 $ 3,301 Total increase (decrease) in net realized/unrealized gains included in cost of products sold* 2 477 479 Purchases 8,665 — 8,665 Sales (8,254) — (8,254) Settlements — (382) (382) Transfers into Level 3 605 50 655 Transfers out of Level 3 (275) (37) (312) Ending balance, March 31, 2023 $ 3,503 $ 649 $ 4,152 * Includes increase in unrealized gains of $632 million relating to Level 3 assets still held at March 31, 2023. 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, 2023. Level 3 Fair Value Liability Measurements at March 31, 2023 Inventory- Commodity Debt Conversion Option Total Liabilities (In millions) Balance, December 31, 2022 $ 89 $ 603 $ 6 $ 698 Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense* (2) 243 (5) 236 Purchases 2 — — 2 Sales — — — — Settlements (31) (424) — (455) Transfers into Level 3 — 39 — 39 Transfers out of Level 3 (1) (6) — (7) Ending balance, March 31, 2023 $ 57 $ 455 $ 1 $ 513 * Includes increase in unrealized losses of $248 million relating to Level 3 liabilities still held at March 31, 2023. 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. 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. 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, 2023 and December 31, 2022. 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, 2023 is a weighted average 22.2% of the total price for assets and 20.9% of the total price for liabilities. Weighted Average % of Total Price March 31, 2023 December 31, 2022 Component Type Assets Liabilities Assets Liabilities Inventories and Related Payables Basis 22.2 % 20.9 % 19.4 % 15.2 % Transportation cost 12.4 % — % 10.5 % — % Commodity Derivative Contracts Basis 23.9 % 22.3 % 22.7 % 26.5 % Transportation cost 13.9 % 0.7 % 13.5 % 3.7 % 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, 2023
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, 2023 and December 31, 2022. March 31, 2023 December 31, 2022 Assets Liabilities Assets Liabilities (In millions) Foreign Currency Contracts $ 176 $ 79 $ 154 $ 275 Commodity Contracts 1,608 1,102 1,337 1,248 Debt Conversion Option — 1 — 6 Total $ 1,784 $ 1,182 $ 1,491 $ 1,529 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, 2023 and 2022. Other expense (income) - net Cost of Interest (In millions) Revenues products sold expense Three Months Ended March 31, 2023 Consolidated Statement of Earnings $ 24,072 $ 21,992 $ (44) $ 147 Pre-tax gains (losses) on: Foreign Currency Contracts $ (11) $ 95 $ (16) $ — Commodity Contracts — 440 — — Debt Conversion Option — — — 5 Total gain (loss) recognized in earnings $ (11) $ 535 $ (16) $ 5 $ 513 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) Changes in the market value of inventories of certain merchandisable agricultural commodities, inventory-related payables, 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, 2023 and December 31, 2022. 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. Commodity Contracts 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. 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 33% of its monthly grind. At March 31, 2023, the Company had designated hedges representing between 1% and 31% 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, 2023, 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 94% and 100% of the anticipated monthly soybean crush for soybean purchases and soybean meal and oil sales at the designated facilities. At March 31, 2023, 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 74% and 93% of the anticipated monthly natural gas consumption at the designated facilities. At March 31, 2023, the Company had designated hedges representing between 37% and 80% of the anticipated monthly natural gas consumption over the next 12 months. As of March 31, 2023 and December 31, 2022, the Company had after-tax losses of $65 million and $17 million in AOCI, respectively, related to gains and losses from these programs. The Company expects to recognize $63 million of the March 31, 2023 after-tax losses in its consolidated statement of earnings during the next 12 months. Interest Rate Contracts The Company used 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 matched 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. The Company executed swap locks maturing on various dates with an aggregate notional amount of $400 million as of December 31, 2022. During the quarter ended March 31, 2023, the Company unwound the swap locks in anticipation of the April 3, 2023 debt issuance. As of March 31, 2023 and December 31, 2022, the Company had after-tax gains of $79 million and $82 million in AOCI, respectively, related to the swap locks. The Company expects to recognize amounts deferred in AOCI in its consolidated statement of earnings during the life of the debt instruments. Foreign Currency Contracts 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 as of March 31, 2023 and December 31, 2022, and foreign exchange forwards with an aggregate notional amount of $2.8 billion and $2.5 billion as of March 31, 2023 and December 31, 2022, respectively. As of March 31, 2023 and December 31, 2022, the Company had after-tax gains of $54 million and $79 million in AOCI, respectively, related to foreign exchange gains and losses from net investment hedge transactions. The amount is deferred in AOCI until the underlying investment is divested. The following table sets forth the fair value of derivatives designated as hedging instruments as of March 31, 2023 and December 31, 2022. March 31, 2023 December 31, 2022 Assets Liabilities Assets Liabilities (In millions) Commodity Contracts $ — $ 9 $ — $ 20 Foreign Currency Contracts 62 132 104 $ — Interest Rate Contracts — — 109 — Total $ 62 $ 141 $ 213 $ 20 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, 2023 and 2022. Cost of products sold (In millions) Revenues Three Months Ended March 31, 2023 Consolidated Statement of Earnings $ 24,072 $ 21,992 Effective amounts recognized in earnings Pre-tax gains (losses) on: Commodity Contracts — (104) Total gain (loss) recognized in earnings $ — $ (104) $ (104) 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 Other Net Investment Hedging Strategies The Company has designated €1.3 billion of its outstanding long-term debt and commercial paper borrowings at March 31, 2023 and December 31, 2022 as hedges of its net investment in a foreign subsidiary. As of March 31, 2023 and December 31, 2022, the Company had after-tax gains of $208 million and $228 million in AOCI, respectively, related to foreign exchange gains and losses from the 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, 2023
Other Assets [Abstract]
Other Current Assets	Other Current Assets The following table sets forth the items in other current assets: March 31, December 31, 2023 2022 (In millions) Unrealized gains on derivative contracts $ 1,846 $ 1,704 Margin deposits and grain accounts 605 723 Customer omnibus receivable 1,174 1,309 Financing receivables - net (1) 170 235 Insurance premiums receivable 26 54 Prepaid expenses 444 443 Biodiesel tax credit 88 68 Tax receivables 407 616 Non-trade receivables (2) 544 361 Other current assets 144 153 $ 5,448 $ 5,666 (1) The Company provides financing to certain suppliers, primarily Brazilian farmers, to finance a portion of the suppliers’ production costs. The amounts are reported net of allowances of $4 million and $3 million at March 31, 2023 and December 31, 2022, respectively. Interest earned on financing receivables of $6 million and $4 million for the three months ended March 31, 2023 and 2022, respectively, is included in interest and investment income in the consolidated statements of earnings.

Accrued Expenses And Other Paya

Accrued Expenses And Other Payables	3 Months Ended
	Mar. 31, 2023
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, 2023 2022 (In millions) Unrealized losses on derivative contracts $ 1,322 $ 1,543 Accrued compensation 287 475 Income tax payable 144 248 Other taxes payable 141 136 Insurance claims payable 292 223 Contract liability 473 694 Other accruals and payables 1,322 1,476 $ 3,981 $ 4,795

Debt And Financing Arrangements

Debt And Financing Arrangements	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Debt And Financing Arrangements	Debt and Financing Arrangements During the quarter ended March 31, 2023, Archer Daniels Midland Singapore, Pte. Ltd., a wholly-owned subsidiary of the Company, increased its revolving credit facility from $500 million to $750 million. The facility is used to finance working capital requirements and for and general corporate purposes. At March 31, 2023, the fair value of the Company’s long-term debt was below the carrying value by $0.1 billion, as estimated using quoted market prices (a Level 2 measurement under applicable accounting standards). At March 31, 2023, the Company had lines of credit, including the accounts receivable securitization programs described below, totaling $13.3 billion, of which $8.9 billion was unused. Of the Company’s total lines of credit, $5.0 billion supported the combined U.S. and European commercial paper borrowing programs, against which there was $0.8 billion commercial paper outstanding at March 31, 2023. The Company has accounts receivable securitization programs (the “Programs”). The Programs provide the Company with up to $2.9 billion in funding resulting from the sale of accounts receivable with $0.3 billion unused capacity as of March 31, 2023.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate was 16.1% for the three months ended March 31, 2023 compared to 16.3% for the three months ended March 31, 2022. The decrease in the rate was primarily due to the impact of discrete tax items, partially offset by changes in the geographic mix of forecasted earnings. On August 16, 2022, the U.S. government enacted the Inflation Reduction Act of 2022 (“Inflation Act”), which includes, among other provisions, changes to the U.S. corporate income tax system, including a 15% minimum tax based on “adjusted financial statement income” and a one percent excise tax on net repurchases of stock for tax years beginning after December 31, 2022. The Company’s adoption of the Inflation Act did not have a significant impact on the Company’s consolidated financial statements. 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, 2014 and 2015. As of March 31, 2023, these assessments totaled $4 million in tax and up to $22 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. Currently the Company is under audit for fiscal years 2016 to 2017. 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 2015. 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 is more likely than not to be sustained based upon its technical merits, and accordingly, has not recorded a tax liability for these assessments. The Company intends to vigorously defend its position against any assessments. 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, 2023, this assessment was $88 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. During the second quarter of 2021, the third party expert issued a final valuation. On September 30, 2022, the court issued a ruling consistent with the valuation report, and the Dutch tax authorities have filed an appeal. During the quarter ended March 31, 2023, ADM filed a cross-appeal. As of March 31, 2023, 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, 2023
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, 2023 and the reclassifications out of AOCI for the three months ended March 31, 2023 and 2022: Three months ended March 31, 2023 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, 2022 $ (2,622) $ 148 $ (22) $ (13) $ (2,509) Other comprehensive income (loss) before reclassifications 234 (208) 5 4 35 Gain (loss) on net investment hedges (78) — — — (78) Amounts reclassified from AOCI — 104 (31) — 73 Tax effect 14 16 (13) (1) 16 Net of tax amount 170 (88) (39) 3 46 Balance at March 31, 2023 $ (2,452) $ 60 $ (61) $ (10) $ (2,463) Amount reclassified from AOCI Three months ended March 31, Affected line item in the consolidated statements of earnings Details about AOCI components 2023 2022 (In millions) Deferred loss (gain) on hedging activities $ 104 $ (98) Cost of products sold 104 (98) Total before tax (18) 19 Tax $ 86 $ (79) Net of tax Pension liability adjustment Amortization of defined benefit pension items: Prior service loss (credit) $ (11) $ 8 Other (income) expense-net Actuarial losses (20) 23 Other (income) expense-net (31) 31 Total before tax (12) (6) Tax $ (43) $ 25 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, 2023
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, 2023 2022 (In millions) Gains on sales of assets $ (11) $ — Other – net (33) (33) Other (Income) Expense - Net $ (44) $ (33) Gains on sales of assets in the three months ended March 31, 2023 consisted of gains on sales of certain assets and disposals of individually insignificant assets in the ordinary course of business.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2023
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, interest cost net of interest income, and 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, 2022. Three Months Ended March 31, (In millions) 2023 2022 Gross revenues Ag Services and Oilseeds $ 19,914 $ 19,132 Carbohydrate Solutions 4,266 4,180 Nutrition 1,944 1,966 Other Business 103 107 Intersegment elimination (2,155) (1,735) Total gross revenues $ 24,072 $ 23,650 Intersegment sales Ag Services and Oilseeds $ 1,335 $ 879 Carbohydrate Solutions 729 814 Nutrition 91 42 Total intersegment sales $ 2,155 $ 1,735 Revenues from external customers Ag Services and Oilseeds Ag Services $ 11,695 $ 11,847 Crushing 3,683 3,222 Refined Products and Other 3,201 3,184 Total Ag Services and Oilseeds 18,579 18,253 Carbohydrate Solutions Starches and Sweeteners 2,737 2,498 Vantage Corn Processors 800 868 Total Carbohydrate Solutions 3,537 3,366 Nutrition Human Nutrition 936 958 Animal Nutrition 917 966 Total Nutrition 1,853 1,924 Other Business 103 107 Total revenues from external customers $ 24,072 $ 23,650 Three Months Ended March 31, (In millions) 2023 2022 Segment operating profit Ag Services and Oilseeds $ 1,210 $ 1,008 Carbohydrate Solutions 273 317 Nutrition 145 189 Other Business 97 42 Specified Items: Gains on sales of assets (1) 1 1 Impairment, restructuring, and settlement charges (2) (7) (18) Total segment operating profit 1,719 1,539 Corporate (322) (268) Earnings before income taxes $ 1,397 $ 1,271 (1) Current and prior-year quarter gains were related to the sale of certain assets.

Asset Impairment, Exit, and Res

Asset Impairment, Exit, and Restructuring Costs	3 Months Ended
	Mar. 31, 2023
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, 2023 consisted of $3 million of impairments related to certain long-lived assets and $4 million of restructuring charges, presented as specified items within segment operating profit. Asset impairment, exit, and restructuring costs in the three months ended March 31, 2022 consisted of immaterial charges.

Sale of Accounts Receivable

Sale of Accounts Receivable	3 Months Ended
	Mar. 31, 2023
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 $1.8 billion for the accounts receivable transferred. The First Program terminates on May 18, 2023, 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 $1.1 billion (€1.0 billion), as amended, for the accounts receivables transferred. The Second Program terminates on February 20, 2024, 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, 2023 and December 31, 2022, 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, 2023 and December 31, 2022, the fair value of trade receivables transferred to the Purchasers under the Programs and derecognized from the Company’s consolidated balance sheets was $2.6 billion. Total receivables sold were $15.1 billion and $14.3 billion for the three months ended March 31, 2023 and 2022, respectively. Cash collections from customers on receivables sold were $14.8 billion and $13.7 billion for the three months ended March 31, 2023 and 2022, respectively. As of March 31, 2023 and December 31, 2022, receivables pledged as collateral to the Purchasers was $0.6 billion. Transfers of receivables under the Programs resulted in an expense for the loss on sale of $23 million and $5 million for the three months ended March 31, 2023 and 2022, 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.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Subsequent EventOn April 3, 2023, the Company issued $500 million aggregate principal amount of 4.500% Notes due August 15, 2033. Net proceeds before expenses were $493 million.

Revenues Revenues (Policies)

Revenues Revenues (Policies)	3 Months Ended
	Mar. 31, 2023
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. 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 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 mode of transportation moves towards its destination in accordance with the transfer of control guidance of Topic 606. The Company recognized revenue from transportation service contracts of $178 million and $175 million for the three months ended March 31, 2023 and 2022, 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.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Inventory, Current	The following table sets forth the Company’s inventories as of December 31, 2022 and 2021. March 31, 2023 December 31, 2022 (In millions) Raw materials and supplies $ 6,310 $ 6,975 Finished goods 8,461 7,796 Total inventories $ 14,771 $ 14,771
Accounts Receivable, Allowance for Credit Loss	Changes to the allowance for estimated uncollectible accounts are as follows: Three Months Ended March 31 2023 2022 Beginning, January 1 $ 199 $ 122 Current year provisions 4 22 Recoveries 1 1 Write-offs against allowance (24) (1) Foreign exchange translation adjustment 1 — Other 1 (7) Ending, March 31 $ 182 $ 137

Revenues Revenues (Tables)

Revenues Revenues (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023 and 2022. Three Months Ended March 31, 2023 Topic 606 Revenue Topic 815 (1) Total (In millions) Point in Time Over Time Total Revenue Revenues Ag Services and Oilseeds Ag Services $ 1,017 $ 178 $ 1,195 $ 10,500 $ 11,695 Crushing 191 — 191 3,492 3,683 Refined Products and Other 626 — 626 2,575 3,201 Total Ag Services and Oilseeds 1,834 178 2,012 16,567 18,579 Carbohydrate Solutions Starches and Sweeteners 2,084 — 2,084 653 2,737 Vantage Corn Processors 800 — 800 — 800 Total Carbohydrate Solutions 2,884 — 2,884 653 3,537 Nutrition Human Nutrition 936 — 936 — 936 Animal Nutrition 917 — 917 — 917 Total Nutrition 1,853 — 1,853 — 1,853 Other Business 103 — 103 — 103 Total Revenues $ 6,674 $ 178 $ 6,852 $ 17,220 $ 24,072 Three Months Ended March 31, 2022 Topic 606 Revenue Topic 815 (1) Total (In millions) Point in Time Over Time Total Revenue Revenues 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

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023 and December 31, 2022. Fair Value Measurements at March 31, 2023 Quoted Prices in Significant Significant Total (In millions) Assets: Inventories carried at market $ — $ 5,654 $ 3,503 $ 9,157 Unrealized derivative gains: Commodity contracts — 959 649 1,608 Foreign currency contracts — 238 — 238 Cash equivalents 397 — — 397 Segregated investments 1,916 — — 1,916 Total Assets $ 2,313 $ 6,851 $ 4,152 $ 13,316 Liabilities: Unrealized derivative losses: Commodity contracts $ — $ 656 $ 455 $ 1,111 Foreign currency contracts — 211 — 211 Debt conversion option — — 1 1 Inventory-related payables — 2,235 57 2,292 Total Liabilities $ — $ 3,102 $ 513 $ 3,615 Fair Value Measurements at December 31, 2022 Significant Significant Total (In millions) Assets: Inventories carried at market $ — $ 6,281 $ 2,760 $ 9,041 Unrealized derivative gains: Commodity contracts — 796 541 1,337 Foreign currency contracts — 258 — 258 Interest rate contracts — 109 — 109 Cash equivalents 405 — — 405 Segregated investments 1,453 — — 1,453 Total Assets $ 1,858 $ 7,444 $ 3,301 $ 12,603 Liabilities: Unrealized derivative losses: Commodity contracts $ — $ 665 $ 603 $ 1,268 Foreign currency contracts — 275 — 275 Debt conversion option — — 6 6 Inventory-related payables — 1,181 89 1,270 Total Liabilities $ — $ 2,121 $ 698 $ 2,819
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, 2023. Level 3 Fair Value Asset Measurements at March 31, 2023 Inventories Commodity Total Assets (In millions) Balance, December 31, 2022 $ 2,760 $ 541 $ 3,301 Total increase (decrease) in net realized/unrealized gains included in cost of products sold* 2 477 479 Purchases 8,665 — 8,665 Sales (8,254) — (8,254) Settlements — (382) (382) Transfers into Level 3 605 50 655 Transfers out of Level 3 (275) (37) (312) Ending balance, March 31, 2023 $ 3,503 $ 649 $ 4,152 * Includes increase in unrealized gains of $632 million relating to Level 3 assets still held at March 31, 2023. 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.
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, 2023. Level 3 Fair Value Liability Measurements at March 31, 2023 Inventory- Commodity Debt Conversion Option Total Liabilities (In millions) Balance, December 31, 2022 $ 89 $ 603 $ 6 $ 698 Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense* (2) 243 (5) 236 Purchases 2 — — 2 Sales — — — — Settlements (31) (424) — (455) Transfers into Level 3 — 39 — 39 Transfers out of Level 3 (1) (6) — (7) Ending balance, March 31, 2023 $ 57 $ 455 $ 1 $ 513 * Includes increase in unrealized losses of $248 million relating to Level 3 liabilities still held at March 31, 2023. 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. 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.
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, 2023 and December 31, 2022. 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, 2023 is a weighted average 22.2% of the total price for assets and 20.9% of the total price for liabilities. Weighted Average % of Total Price March 31, 2023 December 31, 2022 Component Type Assets Liabilities Assets Liabilities Inventories and Related Payables Basis 22.2 % 20.9 % 19.4 % 15.2 % Transportation cost 12.4 % — % 10.5 % — % Commodity Derivative Contracts Basis 23.9 % 22.3 % 22.7 % 26.5 % Transportation cost 13.9 % 0.7 % 13.5 % 3.7 %

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023 and December 31, 2022. March 31, 2023 December 31, 2022 Assets Liabilities Assets Liabilities (In millions) Foreign Currency Contracts $ 176 $ 79 $ 154 $ 275 Commodity Contracts 1,608 1,102 1,337 1,248 Debt Conversion Option — 1 — 6 Total $ 1,784 $ 1,182 $ 1,491 $ 1,529 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, 2023 and 2022. Other expense (income) - net Cost of Interest (In millions) Revenues products sold expense Three Months Ended March 31, 2023 Consolidated Statement of Earnings $ 24,072 $ 21,992 $ (44) $ 147 Pre-tax gains (losses) on: Foreign Currency Contracts $ (11) $ 95 $ (16) $ — Commodity Contracts — 440 — — Debt Conversion Option — — — 5 Total gain (loss) recognized in earnings $ (11) $ 535 $ (16) $ 5 $ 513 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) The following table sets forth the fair value of derivatives designated as hedging instruments as of March 31, 2023 and December 31, 2022. March 31, 2023 December 31, 2022 Assets Liabilities Assets Liabilities (In millions) Commodity Contracts $ — $ 9 $ — $ 20 Foreign Currency Contracts 62 132 104 $ — Interest Rate Contracts — — 109 — Total $ 62 $ 141 $ 213 $ 20 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, 2023 and 2022. Cost of products sold (In millions) Revenues Three Months Ended March 31, 2023 Consolidated Statement of Earnings $ 24,072 $ 21,992 Effective amounts recognized in earnings Pre-tax gains (losses) on: Commodity Contracts — (104) Total gain (loss) recognized in earnings $ — $ (104) $ (104) 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

Other Current Assets (Tables)

Other Current Assets (Tables)	3 Months Ended
	Mar. 31, 2023
Other Assets [Abstract]
Other Current Assets	The following table sets forth the items in other current assets: March 31, December 31, 2023 2022 (In millions) Unrealized gains on derivative contracts $ 1,846 $ 1,704 Margin deposits and grain accounts 605 723 Customer omnibus receivable 1,174 1,309 Financing receivables - net (1) 170 235 Insurance premiums receivable 26 54 Prepaid expenses 444 443 Biodiesel tax credit 88 68 Tax receivables 407 616 Non-trade receivables (2) 544 361 Other current assets 144 153 $ 5,448 $ 5,666 (1) The Company provides financing to certain suppliers, primarily Brazilian farmers, to finance a portion of the suppliers’ production costs. The amounts are reported net of allowances of $4 million and $3 million at March 31, 2023 and December 31, 2022, respectively. Interest earned on financing receivables of $6 million and $4 million for the three months ended March 31, 2023 and 2022, respectively, is included in interest and investment income in the consolidated statements of earnings.

Accrued Expenses And Other Pa_2

Accrued Expenses And Other Payables (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023 2022 (In millions) Unrealized losses on derivative contracts $ 1,322 $ 1,543 Accrued compensation 287 475 Income tax payable 144 248 Other taxes payable 141 136 Insurance claims payable 292 223 Contract liability 473 694 Other accruals and payables 1,322 1,476 $ 3,981 $ 4,795

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (AOCI) (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023 and the reclassifications out of AOCI for the three months ended March 31, 2023 and 2022: Three months ended March 31, 2023 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, 2022 $ (2,622) $ 148 $ (22) $ (13) $ (2,509) Other comprehensive income (loss) before reclassifications 234 (208) 5 4 35 Gain (loss) on net investment hedges (78) — — — (78) Amounts reclassified from AOCI — 104 (31) — 73 Tax effect 14 16 (13) (1) 16 Net of tax amount 170 (88) (39) 3 46 Balance at March 31, 2023 $ (2,452) $ 60 $ (61) $ (10) $ (2,463)
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 2023 2022 (In millions) Deferred loss (gain) on hedging activities $ 104 $ (98) Cost of products sold 104 (98) Total before tax (18) 19 Tax $ 86 $ (79) Net of tax Pension liability adjustment Amortization of defined benefit pension items: Prior service loss (credit) $ (11) $ 8 Other (income) expense-net Actuarial losses (20) 23 Other (income) expense-net (31) 31 Total before tax (12) (6) Tax $ (43) $ 25 Net of tax

Other (Income) Expense - Net (T

Other (Income) Expense - Net (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023 2022 (In millions) Gains on sales of assets $ (11) $ — Other – net (33) (33) Other (Income) Expense - Net $ (44) $ (33)

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Segment Information	Three Months Ended March 31, (In millions) 2023 2022 Gross revenues Ag Services and Oilseeds $ 19,914 $ 19,132 Carbohydrate Solutions 4,266 4,180 Nutrition 1,944 1,966 Other Business 103 107 Intersegment elimination (2,155) (1,735) Total gross revenues $ 24,072 $ 23,650 Intersegment sales Ag Services and Oilseeds $ 1,335 $ 879 Carbohydrate Solutions 729 814 Nutrition 91 42 Total intersegment sales $ 2,155 $ 1,735 Revenues from external customers Ag Services and Oilseeds Ag Services $ 11,695 $ 11,847 Crushing 3,683 3,222 Refined Products and Other 3,201 3,184 Total Ag Services and Oilseeds 18,579 18,253 Carbohydrate Solutions Starches and Sweeteners 2,737 2,498 Vantage Corn Processors 800 868 Total Carbohydrate Solutions 3,537 3,366 Nutrition Human Nutrition 936 958 Animal Nutrition 917 966 Total Nutrition 1,853 1,924 Other Business 103 107 Total revenues from external customers $ 24,072 $ 23,650 Three Months Ended March 31, (In millions) 2023 2022 Segment operating profit Ag Services and Oilseeds $ 1,210 $ 1,008 Carbohydrate Solutions 273 317 Nutrition 145 189 Other Business 97 42 Specified Items: Gains on sales of assets (1) 1 1 Impairment, restructuring, and settlement charges (2) (7) (18) Total segment operating profit 1,719 1,539 Corporate (322) (268) Earnings before income taxes $ 1,397 $ 1,271 (1) Current and prior-year quarter gains were related to the sale of certain assets.

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) employee	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity Securities, FV-NI and without Readily Determinable Fair Value	$ 489		$ 488
Gain (Loss) on Investments	0	$ 34
Inventory, Raw Materials and Supplies, Net of Reserves	6,310
Inventory, Finished Goods, Net of Reserves	8,461		7,796
Inventories	14,771		14,771
Accounts Receivable, Allowance for Credit Loss	182	137	$ 199	$ 122
Accounts Receivable, Credit Loss Expense (Reversal)	4	22
Accounts Receivable, Allowance for Credit Loss, Recovery	1	1
Accounts Receivable, Allowance for Credit Loss, Writeoff	(24)	(1)
Accounts Receivable, Allowance for Credit Loss, Foreign Currency	1	0
Accounts Receivable, Allowance for Credit Loss, Other Adjustments	$ 1	$ (7)
UKRAINE
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Entity Number of Employees | employee	640

New Accounting Standards (Detai

New Accounting Standards (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Accounting Changes and Error Corrections [Abstract]
Payables under Supplier Finance Program	$ 247	$ 196

Revenues (Details)

Revenues (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 24,072	$ 23,650
Contract with Customer, Liability [Abstract]
Contract with Customer, Liability	473		$ 694
Change in Contract with Customer, Liability [Abstract]
Contract with Customer, Liability, Revenue Recognized	362	324
Ag Services and Oilseeds [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	18,579	18,253
Ag Services [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	11,695	11,847
Crushing [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	3,683	3,222
Refined Products and Other [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	3,201	3,184
Carbohydrate Solutions [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	3,537	3,366
Starches and sweeteners [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	2,737	2,498
VCP [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	800	868
Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,853	1,924
Human Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	936	958
Animal Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	917	966
Other [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	103	107
Non MTM Products and Services [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	6,852	6,731
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	6,674	6,556
Non MTM Products and Services [Member] | Transferred over Time [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	178	175
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	2,012	1,902
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	1,834	1,727
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	178	175
Non MTM Products and Services [Member] | Ag Services [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,195	1,145
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	1,017	970
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	178	175
Non MTM Products and Services [Member] | Crushing [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	191	125
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	191	125
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	626	632
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	626	632
Non MTM Products and Services [Member] | Carbohydrate Solutions [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	2,884	2,798
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	2,884	2,798
Non MTM Products and Services [Member] | Starches and sweeteners [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	2,084	1,930
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	2,084	1,930
Non MTM Products and Services [Member] | VCP [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	800	868
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	800	868
Non MTM Products and Services [Member] | Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	1,853	1,924
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	1,853	1,924
Non MTM Products and Services [Member] | Human Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	936	958
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	936	958
Non MTM Products and Services [Member] | Animal Nutrition [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	917	966
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	917	966
Non MTM Products and Services [Member] | Other [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	103	107
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	103	107
Mark-to-Market Products [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	17,220	16,919
Mark-to-Market Products [Member] | Ag Services and Oilseeds [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	16,567	16,351
Mark-to-Market Products [Member] | Ag Services [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	10,500	10,702
Mark-to-Market Products [Member] | Crushing [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	3,492	3,097
Mark-to-Market Products [Member] | Refined Products and Other [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	2,575	2,552
Mark-to-Market Products [Member] | Carbohydrate Solutions [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	653	568
Mark-to-Market Products [Member] | Starches and sweeteners [Member]
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 653	$ 568

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Fair Value Measurements [Line Items]
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss)	$ (248)	$ (1,400)
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)	$ 632	$ 1,400
Weighted Average [Member] | Fair Value, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Inventory Related Payables [Member]
Fair Value Measurements [Line Items]
Basis	20.90%		15.20%
Weighted Average [Member] | Fair Value, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Inventories Carried At Market [Member]
Fair Value Measurements [Line Items]
Basis	22.20%		19.40%

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Measurements At Reporting Date) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Assets:
Derivative Asset	$ 1,846	$ 1,704
Liabilities:
Derivative Liability	1,322	1,543
Fair Value, Recurring [Member]
Assets:
Inventories carried at market	9,157	9,041
Cash Equivalents, at Carrying Value	397	405
Restricted Investments, at Fair Value	1,916	1,453
Total Assets	13,316	12,603
Liabilities:
Inventory-related payables	2,292	1,270
Total Liabilities	3,615	2,819
Fair Value, Recurring [Member] | Commodity Contracts [Member]
Assets:
Derivative Asset	1,608	1,337
Liabilities:
Derivative Liability	1,111	1,268
Fair Value, Recurring [Member] | Foreign Exchange Contracts [Member]
Assets:
Derivative Asset	238	258
Liabilities:
Derivative Liability	211	275
Fair Value, Recurring [Member] | Interest Rate Contracts [Member]
Assets:
Derivative Asset		109
Fair Value, Recurring [Member] | Embedded Derivative Financial Instruments [Member]
Liabilities:
Derivative Liability	1	6
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	397	405
Restricted Investments, at Fair Value	1,916	1,453
Total Assets	2,313	1,858
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
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	5,654	6,281
Cash Equivalents, at Carrying Value	0	0
Restricted Investments, at Fair Value	0	0
Total Assets	6,851	7,444
Liabilities:
Inventory-related payables	2,235	1,181
Total Liabilities	3,102	2,121
Fair Value, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Commodity Contracts [Member]
Assets:
Derivative Asset	959	796
Liabilities:
Derivative Liability	656	665
Fair Value, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Foreign Exchange Contracts [Member]
Assets:
Derivative Asset	238	258
Liabilities:
Derivative Liability	211	275
Fair Value, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Interest Rate Contracts [Member]
Assets:
Derivative Asset		109
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	3,503	2,760
Cash Equivalents, at Carrying Value	0	0
Restricted Investments, at Fair Value	0	0
Total Assets	4,152	3,301
Liabilities:
Inventory-related payables	57	89
Total Liabilities	513	698
Fair Value, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Commodity Contracts [Member]
Assets:
Derivative Asset	649	541
Liabilities:
Derivative Liability	455	603
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
Fair Value, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Embedded Derivative Financial Instruments [Member]
Liabilities:
Derivative Liability	$ 1	$ 6

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, 2023	Mar. 31, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	$ 3,301	$ 3,464
Total increase (decrease) in unrealized gains included in cost of products sold	479	1,280
Purchases	8,665	9,552
Sales	(8,254)	(9,315)
Settlements	(382)	(276)
Transfers into Level 3	655	350
Transfers out of Level 3	(312)	(268)
Balance at end of period	4,152	4,787
Inventories Carried At Market [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	2,760	3,004
Total increase (decrease) in unrealized gains included in cost of products sold	2	647
Purchases	8,665	9,552
Sales	(8,254)	(9,315)
Settlements	0	0
Transfers into Level 3	605	327
Transfers out of Level 3	(275)	(256)
Balance at end of period	3,503	3,959
Commodity Derivative Contracts Gains [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	541	460
Total increase (decrease) in unrealized gains included in cost of products sold	477	633
Purchases	0	0
Sales	0	0
Settlements	(382)	(276)
Transfers into Level 3	50	23
Transfers out of Level 3	(37)	(12)
Balance at end of period	$ 649	$ 828

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, 2023	Mar. 31, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	$ 698	$ 936
Total increase (decrease) in unrealized losses included in cost of products sold	236	1,389
Purchases	2	2
Sales	0	(53)
Settlements	(455)	(478)
Transfers into Level 3	39	161
Transfers out of Level 3	(7)	(18)
Balance at end of period	513	1,939
Long-term Debt [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	6	15
Total increase (decrease) in unrealized losses included in cost of products sold	(5)	15
Purchases	0	0
Balance at end of period	1	30
Inventory Related Payables [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	89	106
Total increase (decrease) in unrealized losses included in cost of products sold	(2)	(2)
Purchases	2	2
Sales	0	(53)
Settlements	(31)	0
Transfers into Level 3	0	0
Transfers out of Level 3	(1)	0
Balance at end of period	57	53
Commodity Derivative Contracts Losses [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	603	815
Total increase (decrease) in unrealized losses included in cost of products sold	243	1,376
Purchases	0	0
Sales	0	0
Settlements	(424)	(478)
Transfers into Level 3	39	161
Transfers out of Level 3	(6)	(18)
Balance at end of period	$ 455	$ 1,856

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, 2023	Dec. 31, 2022
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	20.90%	15.20%
Transportation cost	0%	0%
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	22.30%	26.50%
Transportation cost	0.70%	3.70%
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	22.20%	19.40%
Transportation cost	12.40%	10.50%
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	23.90%	22.70%
Transportation cost	13.90%	13.50%

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities (Narrative) (Details) bu in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) gal bu	Dec. 31, 2022 USD ($)
Derivative [Line Items]
Unrealized gain (loss) on interest rate cash flow hedges, after-tax, AOCI	$ 79	$ 82
Corn processed per month (in bushels) | bu	65
Notional Amount of Nonderivative Instruments	$ 1,300
Foreign Debt used in Net Investment Hedge, Net of Tax	208	228
Financing Receivable, Allowance for Credit Loss	4	3
Designated As Hedging Instrument [Member]
Derivative [Line Items]
Unrealized Gain (Loss) on Price Risk Cash Flow Hedges, after Tax, Accumulated Other Comprehensive Income	65	17
Interest Rate Derivative Assets, at Fair Value	0	109
After-tax gains (losses) in AOCI from commodity cash flow hedge transactions	$ 63
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%
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent)	1%
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)	33%
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent)	31%
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)	94%
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent)	0%
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%
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent)	100%
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)	74%
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent)	37%
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)	93%
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent)	80%
Net Investment Hedging [Member]
Derivative [Line Items]
Derivatives used in Net Investment Hedge, Net of Tax	$ 54	79
Net Investment Hedging [Member] | Currency Swap [Member]
Derivative [Line Items]
Derivative Liability, Notional Amount	800	800
Net Investment Hedging [Member] | Foreign Exchange Forward [Member]
Derivative [Line Items]
Derivative Liability, Notional Amount	$ 2,800	2,500
Cash Flow Hedging [Member] | Interest Rate Swap [Member] | Interest Expense [Member]
Derivative [Line Items]
Derivative Asset, Notional Amount		$ 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, 2023	Dec. 31, 2022
Not Designated As Hedging Instrument [Member]
Derivative [Line Items]
FX Contracts Assets	$ 176	$ 154
Embedded Derivative, Fair Value of Embedded Derivative Asset	0	0
Commodity Contracts Assets	1,608	1,337
Total fair value of derivative assets not designated as hedging instruments	1,784	1,491
FX Contracts Liabilities	79	275
Commodity Contracts Liabilities	1,102	1,248
Embedded Derivative, Fair Value of Embedded Derivative Liability	1	6
Total fair value of derivative liabilities not designated as hedging instruments.	1,182	1,529
Designated As Hedging Instrument [Member]
Derivative [Line Items]
Interest Rate Derivative Liabilities, at Fair Value	0	0
Interest Rate Derivative Assets, at Fair Value	$ 0	$ 109

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, 2023	Mar. 31, 2022
Derivative [Line Items]
Revenues	$ 24,072	$ 23,650
Cost of Products Sold	21,992	21,753
Other (Income) Expense - Net	(44)	(33)
Interest Expense	147	92
Total gain (loss) recognized in earnings	513	(688)
Revenues [Member]
Derivative [Line Items]
FX Contracts	(11)	(38)
Total gain (loss) recognized in earnings	(11)	(38)
Cost of Products Sold [Member]
Derivative [Line Items]
FX Contracts	95	443
Commodity Contracts	440	(1,101)
Total gain (loss) recognized in earnings	535	(658)
Interest Expense [Member]
Derivative [Line Items]
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net	5	(15)
Total gain (loss) recognized in earnings	5	(15)
Other (Income) Expense - Net [Member]
Derivative [Line Items]
FX Contracts	(16)	23
Commodity Contracts	0	0
Total gain (loss) recognized in earnings	$ (16)	$ 23

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, 2023	Dec. 31, 2022
Derivative [Line Items]
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Assets, Fair Value	$ 62	$ 104
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Liabilities, Fair Value	132	0
Interest Rate Derivative Assets, at Fair Value	0	109
Interest Rate Derivative Liabilities, at Fair Value	0	0
Derivative Instruments in Hedges, Assets, at Fair Value	62	213
Derivative Instruments in Hedges, Liabilities, at Fair Value	141	20
Price Risk Cash Flow Hedge Asset, at Fair Value	0	0
Price Risk Fair Value Hedge Liability, at Fair Value	$ 9	$ 20

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, 2023	Mar. 31, 2022
Derivative Instruments, Gains (Loss) [Line Items]
Revenues	$ 24,072	$ 23,650
Cost of Products Sold	21,992	21,753
Interest Expense	147	92
Other (Income) Expense - Net	(44)	(33)
Revenues [Member]
Derivative Instruments, Gains (Loss) [Line Items]
Commodity Contracts effective amount recognized in earnings	0	0
Total amount recognized in earnings	0	0
Cost of Products Sold [Member]
Derivative Instruments, Gains (Loss) [Line Items]
Commodity Contracts effective amount recognized in earnings	(104)	98
Total amount recognized in earnings	(104)	98
Designated As Hedging Instrument [Member]
Derivative Instruments, Gains (Loss) [Line Items]
Total amount recognized in earnings	$ (104)	$ 98

Other Current Assets (Details)

Other Current Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Other Assets [Abstract]
Derivative Asset	$ 1,846		$ 1,704
Margin Deposit Assets	605		723
Receivables from Customers	1,174		1,309
Financing Receivable, after Allowance for Credit Loss	170		235
Premiums Receivable, Net	26		54
Prepaid Expense, Current	444		443
Biodiesel tax credit	88		68
Tax receivables	407		616
Other Receivables	544		361
Other current assets	144		153
Total other current assets	5,448		5,666
Financing Receivable, Allowance for Credit Loss	4		$ 3
Interest on financing receivables	6	$ 4
Dividends Receivable	$ 116

Accrued Expenses And Other Pa_3

Accrued Expenses And Other Payables (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Accrued Liabilities and Other Liabilities [Abstract]
Derivative Liability	$ 1,322	$ 1,543
Employee-related Liabilities	287	475
Accrued Income Taxes, Current	144	248
Accrual for Taxes Other than Income Taxes, Current	141	136
Liability for Claims and Claims Adjustment Expense	292	223
Contract with Customer, Liability	473	694
Accrued expenses and other payables	1,322	1,476
Total accrued expenses and other payables	$ 3,981	$ 4,795

Debt And Financing Arrangemen_2

Debt And Financing Arrangements (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Notional Amount of Nonderivative Instruments	$ 1,300
Fair Value of Debt Below Carrying Value	100
Line of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	13,300
Unused lines of credit	8,900
Commercial Paper [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	5,000
Commercial Paper	800
Accounts Receivable Securitization Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	2,900
Unused lines of credit	300
Foreign Line of Credit
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 750	$ 500

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Contingency [Line Items]
Effective income tax rate	16.10%	16.30%
Minimum corporate income tax rate	15%
Argentine Tax Authorities [Member]
Income Tax Contingency [Line Items]
Income tax assessment	$ 4
Income tax assessment - Interest and Penalties	22
Tax and Customs Administration, Netherlands [Member]
Income Tax Contingency [Line Items]
Income tax assessment	88
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, 2023 USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance of Accumulated Other Comprehensive Income (Loss) at Beginning of Period	$ (2,509)
Other comprehensive income (loss) before reclassifications	35
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax	(78)
Amounts reclassified from AOCI	73
Other comprehensive income (loss), tax, portion attributable to parent	16
Other Comprehensive Income (Loss), Net of Tax	46
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	(2,463)
Foreign Currency Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance of Accumulated Other Comprehensive Income (Loss) at Beginning of Period	(2,622)
Other comprehensive income (loss) before reclassifications	234
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax	(78)
Amounts reclassified from AOCI	0
Other comprehensive income (loss), tax, portion attributable to parent	14
Other Comprehensive Income (Loss), Net of Tax	170
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	(2,452)
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	148
Other comprehensive income (loss) before reclassifications	(208)
Amounts reclassified from AOCI	104
Other comprehensive income (loss), tax, portion attributable to parent	16
Other Comprehensive Income (Loss), Net of Tax	(88)
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	60
Pension Liability Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance of Accumulated Other Comprehensive Income (Loss) at Beginning of Period	(22)
Other comprehensive income (loss) before reclassifications	5
Amounts reclassified from AOCI	(31)
Other comprehensive income (loss), tax, portion attributable to parent	(13)
Other Comprehensive Income (Loss), Net of Tax	(39)
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	(61)
Unrealized Gain (Loss) On Investments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance of Accumulated Other Comprehensive Income (Loss) at Beginning of Period	(13)
Other comprehensive income (loss) before reclassifications	4
Amounts reclassified from AOCI	0
Other comprehensive income (loss), tax, portion attributable to parent	(1)
Other Comprehensive Income (Loss), Net of Tax	3
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	$ (10)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (AOCI) Components (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Earnings Before Income Taxes	$ (1,397)	$ (1,271)
Income taxes	(225)	(207)
Net Earnings Including Noncontrolling Interests	(1,172)	(1,064)
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]
Earnings Before Income Taxes	104	(98)
Income taxes	18	(19)
Net Earnings Including Noncontrolling Interests	86	(79)
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)	31
Income taxes	12	6
Net Earnings Including Noncontrolling Interests	(43)	25
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]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(104)	(98)
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)	(11)	8
Actuarial Losses	$ (20)	$ 23

Other (Income) Expense (Details

Other (Income) Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Gain (Loss) on Sale and Revaluation of Assets	$ 11	$ 0
Other - net	33	33
Other (Income) Expense - Net	(44)	(33)
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component	$ (4)	$ (6)

Segment Information (Narrative)

Segment Information (Narrative) (Details)	3 Months Ended
	Mar. 31, 2023 segment
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, 2023	Mar. 31, 2022
Segment Information
Revenues	$ (24,072)	$ (23,650)
Earnings Before Income Taxes	1,397	1,271
Ag Services and Oilseeds [Member]
Segment Information
Revenues	(18,579)	(18,253)
Earnings Before Income Taxes	1,210	1,008
Ag Services [Member]
Segment Information
Revenues	(11,695)	(11,847)
Crushing [Member]
Segment Information
Revenues	(3,683)	(3,222)
Refined Products and Other [Member]
Segment Information
Revenues	(3,201)	(3,184)
Carbohydrate Solutions [Member]
Segment Information
Revenues	(3,537)	(3,366)
Earnings Before Income Taxes	273	317
Starches and sweeteners [Member]
Segment Information
Revenues	(2,737)	(2,498)
VCP [Member]
Segment Information
Revenues	(800)	(868)
Nutrition [Member]
Segment Information
Revenues	(1,853)	(1,924)
Earnings Before Income Taxes	145	189
Human Nutrition [Member]
Segment Information
Revenues	(936)	(958)
Animal Nutrition [Member]
Segment Information
Revenues	(917)	(966)
Other [Member]
Segment Information
Revenues	(103)	(107)
Earnings Before Income Taxes	97	42
Operating Segments [Member]
Segment Information
Earnings Before Income Taxes	1,719	1,539
Operating Segments [Member] | Ag Services and Oilseeds [Member]
Segment Information
Revenues	(19,914)	(19,132)
Operating Segments [Member] | Carbohydrate Solutions [Member]
Segment Information
Revenues	(4,266)	(4,180)
Operating Segments [Member] | Nutrition [Member]
Segment Information
Revenues	(1,944)	(1,966)
Operating Segments [Member] | Other [Member]
Segment Information
Revenues	(103)	(107)
Intersegment Elimination [Member]
Segment Information
Revenues	2,155	1,735
Intersegment Elimination [Member] | Ag Services and Oilseeds [Member]
Segment Information
Revenues	1,335	879
Intersegment Elimination [Member] | Carbohydrate Solutions [Member]
Segment Information
Revenues	729	814
Intersegment Elimination [Member] | Nutrition [Member]
Segment Information
Revenues	91	42
Corporate, Non-Segment [Member]
Segment Information
Earnings Before Income Taxes	(322)	(268)
Other (Income) Expense - Net [Member] | Segment Reconciling Items [Member]
Segment Information
Earnings Before Income Taxes	1	1
Asset impairment, restructuring, and settlement [Member] | Segment Reconciling Items [Member]
Segment Information
Earnings Before Income Taxes	$ (7)	$ (18)

Asset Impairment, Exit, and R_2

Asset Impairment, Exit, and Restructuring Costs (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Asset Impairment Charges And Exit Costs [Line Items]
Asset Impairment Charges	$ 3
Restructuring Charges	$ (4)

Sale of Accounts Receivable (Na

Sale of Accounts Receivable (Narrative) (Details) $ in Millions, € in Billions	3 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2023 EUR (€)	Dec. 31, 2022 USD ($)
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	$ 2,600			$ 2,600
Proceeds from Sale of Other Receivables	14,800	$ 13,700
Loss on transfer of accounts receivables to purchasers	23	5
Amount of receivables sold	15,100	$ 14,300
Accounts Receivable, after Allowance for Credit Loss, Current	4,471			4,926
Asset Pledged as Collateral without Right
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Accounts Receivable, after Allowance for Credit Loss, Current	600			$ 600
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	2,900
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	1,800
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	$ 1,100		€ 1

Subsequent Events Subsequent Ev

Subsequent Events Subsequent Events (Details) - Subsequent Event [Member] $ in Millions	Apr. 03, 2023 USD ($)
Subsequent Event [Line Items]
Debt Instrument, Issuance Date	Apr. 03, 2023
Debt Instrument, Face Amount	$ 500
Debt Instrument, Interest Rate, Stated Percentage	4.50%
Debt Instrument, Maturity Date	Aug. 15, 2033
Proceeds from Issuance of Unsecured Debt	$ 493