INVENTORIES (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Inventory Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Inventories by Segment | Inventories by segment are presented below. Readily marketable inventories (“RMI”) are agricultural commodity inventories, such as soybeans, soybean meal, soybean oil, palm 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.
(1) Includes RMI of $6,248 million and $5,735 million at September 30, 2021 and December 31, 2020, respectively. Of these amounts, $4,956 million and $4,369 million can be attributable to merchandising activities at September 30, 2021 and December 31, 2020, respectively. Assets held for sale includes RMI of zero and $365 million at September 30, 2021 and December 31, 2020, respectively. (2) Includes RMI of $231 million and $174 million at September 30, 2021 and December 31, 2020, respectively. (3) Includes RMI of $26 million and $52 million at September 30, 2021 and December 31, 2020, respectively.
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