v3.20.2

INVENTORIES | 6 Months Ended
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Jun. 30, 2020
Inventory Disclosure [Abstract] |
INVENTORIES | INVENTORIES Inventories by segment are presented below. Readily marketable inventories (“RMI”) are agricultural commodity inventories, such as soybeans, soybean meal, soybean oil, corn, and wheat carried at fair value because of their commodity characteristics, widely available markets, and international pricing mechanisms. The Company engages in trading and distribution, or merchandising activities, and part of RMI can be attributable to such activities and is not held for processing. All other inventories are carried at lower of cost or net realizable value.
(US$ in millions) |  | June 30, 2020 |  | December 31, 2019
Agribusiness (1) |  | $ | 4,903 |  |  | $ | 4,002 |
Edible Oil Products (2) |  | 777 |  |  | 770 |
Milling Products |  | 216 |  |  | 194 |
Sugar and Bioenergy (3) |  | 6 |  |  | 6 |
Fertilizer |  | 105 |  |  | 66 |
Total |  | $ | 6,007 |  |  | $ | 5,038 |
(1) Includes RMI of $4,712 million and $3,796 million at June 30, 2020 and December 31, 2019, respectively. Assets held for sale includes RMI of $99 million and zero at June 30, 2020 and December 31, 2019, respectively (see Note 3 - Portfolio Rationalization Initiatives). Of these amounts, $3,841 million and $2,589 million can be attributable to merchandising activities at June 30, 2020 and December 31, 2019, respectively. (2) Includes RMI of $89 million and $133 million at June 30, 2020 and December 31, 2019, respectively. (3) Includes RMI of $6 million and $5 million at June 30, 2020 and December 31, 2019, respectively.

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
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