INVENTORIES |
3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mar. 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Inventory Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INVENTORIES | INVENTORIESInventories 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 $8,478 million and $6,490 million at March 31, 2022 and December 31, 2021, respectively. Of these amounts, $6,651 million and $4,857 million can be attributable to merchandising activities at March 31, 2022 and December 31, 2021, respectively. (2) Includes RMI of $297 million and $257 million at March 31, 2022 and December 31, 2021, respectively. (3) Includes RMI of $100 million and $122 million at March 31, 2022 and December 31, 2021, respectively.
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||