v3.23.2

INVENTORIES | 6 Months Ended
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Jun. 30, 2023
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.
(US$ in millions) | June 30, 2023 | December 31, 2022
Agribusiness (1) | $ | 7,468 |  | $ | 6,756 |
Refined and Specialty Oils (2) | 1,072 |  | 1,316 |
Milling (3) | 261 |  | 332 |
Corporate and Other | 5 |  | 4 |
Total | $ | 8,806 |  | $ | 8,408 |
(1) Includes RMI of $6,956 million and $6,286 million at June 30, 2023, and December 31, 2022, respectively. Assets held for sale includes RMI of zero and $26 million at June 30, 2023, and December 31, 2022, respectively. Of these amounts, $5,898 million and $4,789 million can be attributable to merchandising activities at June 30, 2023, and December 31, 2022, respectively. (2) Includes RMI of $217 million and $271 million at June 30, 2023, and December 31, 2022, respectively. (3) Includes RMI of $23 million and $97 million at June 30, 2023, and December 31, 2022, 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 -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//330/tableOfContent + Details
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