INVENTORIES |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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, 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 $8,015 million and $6,490 million at June 30, 2022 and December 31, 2021, respectively. Of these amounts, $6,616 million and $4,857 million can be attributable to merchandising activities at June 30, 2022 and December 31, 2021, respectively. (2) Includes RMI of $320 million and $257 million at June 30, 2022 and December 31, 2021, respectively. (3) Includes RMI of $43 million and $122 million at June 30, 2022 and December 31, 2021, respectively.
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