v3.23.1

INVENTORIES (Tables) | 3 Months Ended
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Mar. 31, 2023
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.
(US$ in millions) | March 31, 2023 | December 31, 2022
Agribusiness (1) | $ | 7,458 |  | $ | 6,756 |
Refined and Specialty Oils (2) | 1,148 |  | 1,316 |
Milling (3) | 341 |  | 332 |
Corporate and Other | 5 |  | 4 |
Total | $ | 8,952 |  | $ | 8,408 |
(1) Includes RMI of $6,954 million and $6,286 million at March 31, 2023, and December 31, 2022, respectively. Assets held for sale includes RMI of zero and $26 million at March 31, 2023, and December 31, 2022, respectively. Of these amounts, $5,731 million and $4,789 million can be attributable to merchandising activities at March 31, 2023, and December 31, 2022, respectively. (2) Includes RMI of $227 million and $271 million at March 31, 2023, and December 31, 2022, respectively. (3) Includes RMI of $50 million and $97 million at March 31, 2023, and December 31, 2022, respectively.

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- Definition Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(c)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(b)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(a)) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766 + Details
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