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Segment and Geographic Information | 12 Months Ended
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Dec. 31, 2016
Segment Reporting [Abstract] |
Segment And Geographic Information | Segment and Geographic Information The Company is principally engaged in procuring, transporting, storing, processing, and merchandising agricultural commodities and products. The Company’s operations are organized, managed and classified into four reportable business segments: Agricultural Services, Corn Processing, Oilseeds Processing, and Wild Flavors and Specialty Ingredients. Each of these segments is organized based upon the nature of products and services offered. The Company’s remaining operations are not reportable segments, as defined by the applicable accounting standard, and are classified as Other. The Agricultural Services segment utilizes its extensive global grain elevator and transportation networks, and port operations to buy, store, clean, and transport agricultural commodities, such as oilseeds, corn, wheat, milo, oats, rice, and barley, and resells these commodities primarily as food and feed ingredients and as raw materials for the agricultural processing industry. The Agricultural Services segment includes international agricultural commodities merchandising and handling activities managed through a global trade desk based in Rolle, Switzerland. Agricultural Services’ grain sourcing, handling, and transportation network provides reliable and efficient services to the Company’s customers and agricultural processing operations. Agricultural Services’ transportation network capabilities include barge, ocean-going vessel, truck, rail, and container freight services. The Agricultural Services segment also includes the activities related to structured trade finance, the processing of wheat into wheat flour, and the Company’s 32.2% share of the results of its Pacificor (formerly Kalama Export Company LLC) joint venture. The Agricultural Services segment also included returns associated with the Company’s 19.8% investment in GrainCorp until its sale in December 2016. In April 2016, the Company acquired a 50% interest in Cairo, Egypt-based Medsofts Group, a consolidated joint venture that owns and manages merchandising and supply chain operations. The Company’s Corn Processing segment is engaged in corn wet milling and dry milling activities, utilizing its asset base primarily located in the central part of the United States with additional facilities in China, Bulgaria, Morocco, and Turkey. The Corn Processing segment converts corn into sweeteners, starches, and bioproducts. Its products include ingredients used in the food and beverage industry including sweeteners, starch, syrup, glucose, and dextrose. Dextrose and starch are used by the Corn Processing segment as feedstocks for its bioproducts operations. By fermentation of dextrose, the Corn Processing segment produces alcohol, amino acids, and other food and animal feed ingredients. Ethyl alcohol is produced by the Company for industrial use as ethanol or as beverage grade. Ethanol, in gasoline, increases octane and is used as an extender and oxygenate. Bioproducts also include essential amino acids such as lysine and threonine used in swine and poultry diets to optimize performance. Corn gluten feed and meal, as well as distillers’ grains, are produced for use as animal feed ingredients. Corn germ, a by-product of the wet milling process, is further processed into vegetable oil and protein meal. The Corn Processing segment also includes activities related to the processing and distribution of formula feeds and animal health and nutrition products. Other Corn Processing products include citric acids and glycols, all of which are used in various food and industrial products. The Corn Processing segment also included the activities of the Company’s Brazilian sugarcane ethanol plant and related operations until the Company completed the sale of these operations in May 2016. This segment also includes the Company’s share of the results of its equity investments in Almidones Mexicanos S.A., and Red Star Yeast Company LLC. In June 2016, the Company acquired from Tate & Lyle a Casablanca, Morocco-based corn wet mill that produces glucose and native starch. The Oilseeds Processing segment includes global activities related to the origination, merchandising, crushing, and further processing of oilseeds such as soybeans and soft seeds (cottonseed, sunflower seed, canola, rapeseed, and flaxseed) into vegetable oils and protein meals. Oilseeds products produced and marketed by the Company include ingredients for the food, feed, energy, and industrial products industries. Crude vegetable oils produced by the segment’s crushing activities are sold “as is” or are further processed by refining, blending, bleaching, and deodorizing into salad oils. Salad oils are sold “as is” or are further processed by hydrogenating and/or interesterifying into margarine, shortening, and other food products. Partially refined oils are used to produce biodiesel or are sold to other manufacturers for use in chemicals, paints, and other industrial products. Oilseed protein meals are principally sold to third parties to be used as ingredients in commercial livestock and poultry feeds. In Europe and South America, the Oilseeds Processing segment includes origination and merchandising activities as adjuncts to its oilseeds processing assets. These activities include a network of grain elevators, port facilities, and transportation assets used to buy, store, clean, and transport grains and oilseeds. The Oilseeds Processing segment is a major supplier of peanuts, tree nuts, and peanut-derived ingredients to both the U.S. and export markets. In North America, cottonseed flour is produced and sold primarily to the pharmaceutical industry and cotton cellulose pulp is manufactured and sold to the chemical, paper, and filter markets. The Oilseeds Processing segment also included activities related to its global chocolate and cocoa businesses until the sale of these businesses in July 2015 and October 2015, respectively. The Oilseeds Processing segment also includes the Company’s share of the results of its equity investment in Wilmar International Limited (Wilmar) and its share of results for its Stratas Foods LLC and Edible Oils Limited joint ventures. The Company acquired additional shares in Wilmar increasing its ownership interest from 19% to 20% in March 2016, 22% in June 2016, and 23.2% in September 2016. In November 2016, the Company completed the expansion of Olenex, a 37.5% joint venture with Wilmar. Olenex owns and operates specialty oils and fats, palm refining, and tropical oils processing plants in Europe. The Wild Flavors and Specialty Ingredients (WFSI) segment engages in the manufacturing, sales, and distribution of specialty products including natural flavor ingredients, flavor systems, natural colors, proteins, emulsifiers, soluble fiber, polyols, hydrocolloids, natural health and nutrition products, and other specialty food and feed ingredients. The WFSI segment also includes the activities related to the procurement, processing, and distribution of edible beans. The Company acquired a 90% controlling stake in Harvest Innovations, an industry leader in minimally processed, expeller-pressed soy proteins, oils, and gluten-free ingredients in February 2016; the remaining 60% interest in Amazon Flavors, a leading Brazilian manufacturer of natural extracts, emulsions and compounds, in May 2016; and Caterina Foods, a leading toll manufacturer of specialty gluten-free and high-protein pastas, in September 2016. Other includes the Company’s remaining operations, primarily its financial business units, related to futures commission and insurance activities. Intersegment sales have been recorded at amounts approximating market. Operating profit for each segment is based on net sales less identifiable operating expenses. Also included in segment operating profit is equity in earnings of affiliates based on the equity method of accounting. Certain Corporate items are not allocated to the Company’s reportable business segments. Corporate results principally include the impact of LIFO-related adjustments, unallocated corporate expenses, other charges including legal settlements, costs, and legal fees, interest cost net of investment income, and the Company’s share of the results of an equity investment. Following the sale of the cocoa business in October 2015, the remaining results of Cocoa and Other were combined with the results of Refining, Packaging, Biodiesel, and Other within the Oilseeds Processing segment effective January 1, 2016. Prior period results have been reclassified to conform to the current presentation. Segment Information
| Year Ended
(In millions) | December 31
| 2016 |  | 2015 |  | 2014
Gross revenues |  |  |  |  |
Agricultural Services | $ | 30,241 |  |  | $ | 33,658 |  |  | $ | 40,120 |
Corn Processing | 9,512 |  |  | 10,051 |  |  | 12,377 |
Oilseeds Processing | 27,305 |  |  | 29,393 |  |  | 33,591 |
Wild Flavors and Specialty Ingredients | 2,447 |  |  | 2,423 |  |  | 1,380 |
Other | 585 |  |  | 634 |  |  | 573 |
Intersegment elimination | (7,744 | ) |  | (8,457 | ) |  | (6,840 | )
Total | $ | 62,346 |  |  | $ | 67,702 |  |  | $ | 81,201 |
Intersegment revenues |  |  |  |  |  |
Agricultural Services | $ | 2,348 |  |  | $ | 3,976 |  |  | $ | 3,832 |
Corn Processing | 46 |  |  | 56 |  |  | 95 |
Oilseeds Processing | 5,153 |  |  | 4,176 |  |  | 2,658 |
Wild Flavors and Specialty Ingredients | 20 |  |  | 16 |  |  | 12 |
Other | 177 |  |  | 233 |  |  | 243 |
Total | $ | 7,744 |  |  | $ | 8,457 |  |  | $ | 6,840 |
Revenues from external customers |  |  |  |  |
Agricultural Services |  |  |  |  |
Merchandising and Handling | $ | 24,609 |  |  | $ | 25,957 |  |  | $ | 32,208 |
Milling and Other | 3,060 |  |  | 3,479 |  |  | 3,815 |
Transportation | 224 |  |  | 246 |  |  | 265 |
Total Agricultural Services | 27,893 |  |  | 29,682 |  |  | 36,288 |
Corn Processing |  |  |  |  |
Sweeteners and Starches | 4,028 |  |  | 3,713 |  |  | 3,767 |
Bioproducts | 5,438 |  |  | 6,282 |  |  | 8,515 |
Total Corn Processing | 9,466 |  |  | 9,995 |  |  | 12,282 |
Oilseeds Processing |  |  |  |  |
Crushing and Origination | 13,976 |  |  | 15,597 |  |  | 18,542 |
Refining, Packaging, Biodiesel, and Other | 7,880 |  |  | 9,364 |  |  | 11,937 |
Asia | 296 |  |  | 256 |  |  | 454 |
Total Oilseeds Processing | 22,152 |  |  | 25,217 |  |  | 30,933 |
Wild Flavors and Specialty Ingredients | 2,427 |  |  | 2,407 |  |  | 1,368 |
Total Wild Flavors and Specialty Ingredients | 2,427 |  |  | 2,407 |  |  | 1,368 |
Other |  |  |  |  |
Financial | 408 |  |  | 401 |  |  | 330 |
Total Other | 408 |  |  | 401 |  |  | 330 |
Total | $ | 62,346 |  |  | $ | 67,702 |  |  | $ | 81,201 |
| Year Ended
(In millions) | December 31
| 2016 |  | 2015 |  | 2014
Depreciation |  |  |  |  |  |
Agricultural Services | $ | 191 |  |  | $ | 188 |  |  | $ | 189 |
Corn Processing | 342 |  |  | 335 |  |  | 332 |
Oilseeds Processing | 185 |  |  | 187 |  |  | 235 |
Wild Flavors and Specialty Ingredients | 37 |  |  | 36 |  |  | 37 |
Other | 5 |  |  | 5 |  |  | 3 |
Corporate | 27 |  |  | 48 |  |  | 54 |
Total | $ | 787 |  |  | $ | 799 |  |  | $ | 850 |
Long-lived asset abandonments and write-downs(1) |  |  |  |  |
Agricultural Services | $ | 3 |  |  | $ | — |  |  | $ | 17 |
Corn Processing | 6 |  |  | 66 |  |  | 15 |
Oilseeds Processing | 6 |  |  | 40 |  |  | 3 |
Wild Flavors and Specialty Ingredients | — |  |  | 1 |  |  | — |
Corporate | 2 |  |  | 1 |  |  | — |
Total | $ | 17 |  |  | $ | 108 |  |  | $ | 35 |
Interest income |  |  |  |  |
Agricultural Services | $ | 21 |  |  | $ | 16 |  |  | $ | 31 |
Corn Processing | 3 |  |  | 2 |  |  | 10 |
Oilseeds Processing | 27 |  |  | 29 |  |  | 30 |
Wild Flavors and Specialty Ingredients | 2 |  |  | 1 |  |  | 1 |
Other | 35 |  |  | 19 |  |  | 13 |
Corporate | 4 |  |  | 4 |  |  | 7 |
Total | $ | 92 |  |  | $ | 71 |  |  | $ | 92 |
Equity in earnings of affiliates |  |  |  |  |
Agricultural Services | $ | 16 |  |  | $ | 24 |  |  | $ | 41 |
Corn Processing | 91 |  |  | 85 |  |  | 113 |
Oilseeds Processing | 211 |  |  | 251 |  |  | 236 |
Wild Flavors and Specialty Ingredients | 4 |  |  | — |  |  | — |
Other | 10 |  |  | (3 | ) |  | 10 |
Corporate | (40 | ) |  | 33 |  |  | (28 | )
Total | $ | 292 |  |  | $ | 390 |  |  | $ | 372 |
(1) See Note 18 for total asset impairment, exit, and restructuring costs. |  |  |  |  |
| Year Ended
(In millions) | December 31
| 2016 |  | 2015 |  | 2014
Operating Profit |  |  |  |  |
Agricultural Services | $ | 602 |  |  | $ | 714 |  |  | $ | 1,043 |
Corn Processing | 811 |  |  | 648 |  |  | 1,148 |
Oilseeds Processing | 871 |  |  | 1,574 |  |  | 1,440 |
Wild Flavors and Specialty Ingredients | 286 |  |  | 280 |  |  | 205 |
Other | 134 |  |  | 56 |  |  | 79 |
Total operating profit | 2,704 |  |  | 3,272 |  |  | 3,915 |
Corporate | (882 | ) |  | (988 | ) |  | (785 | )
Earnings before income taxes | $ | 1,822 |  |  | $ | 2,284 |  |  | $ | 3,130 |
(In millions) | December 31
| 2016 |  | 2015
Investments in and advances to affiliates |  |  |
Agricultural Services | $ | 367 |  |  | $ | 384 |
Corn Processing | 395 |  |  | 368 |
Oilseeds Processing | 3,413 |  |  | 2,743 |
Wild Flavors and Specialty Ingredients | 3 |  |  | — |
Other | 4 |  |  | 39 |
Corporate | 315 |  |  | 367 |
Total | $ | 4,497 |  |  | $ | 3,901 |
Identifiable assets |  |  |
Agricultural Services | $ | 8,380 |  |  | $ | 8,715 |
Corn Processing | 6,418 |  |  | 6,450 |
Oilseeds Processing | 11,228 |  |  | 10,794 |
Wild Flavors and Specialty Ingredients | 4,610 |  |  | 4,570 |
Other | 7,211 |  |  | 7,902 |
Corporate | 1,922 |  |  | 1,726 |
Total | $ | 39,769 |  |  | $ | 40,157 |
(In millions) | December 31
| 2016 |  | 2015
Gross additions to property, plant, and equipment |  |  |
Agricultural Services | $ | 156 |  |  | $ | 229 |
Corn Processing | 240 |  |  | 427 |
Oilseeds Processing | 266 |  |  | 404 |
Wild Flavors and Specialty Ingredients | 139 |  |  | 167 |
Other | 20 |  |  | 15 |
Corporate | 61 |  |  | 108 |
Total | $ | 882 |  |  | $ | 1,350 |
Geographic information: The following geographic data include revenues attributed to the countries based on the location of the subsidiary making the sale and long-lived assets based on physical location. Long-lived assets represent the net book value of property, plant, and equipment.
| Year Ended
(In millions) | December 31
| 2016 |  | 2015 |  | 2014
Revenues |  |  |  |  |
United States | $ | 29,419 |  |  | $ | 31,828 |  |  | $ | 39,609 |
Switzerland | 13,413 |  |  | 11,681 |  |  | 10,118 |
Cayman Islands | 3,617 |  |  | 4,456 |  |  | 5,213 |
Germany | 2,341 |  |  | 3,436 |  |  | 7,174 |
Other Foreign | 13,556 |  |  | 16,301 |  |  | 19,087 |
| $ | 62,346 |  |  | $ | 67,702 |  |  | $ | 81,201 |
(In millions) | December 31
| 2016 |  | 2015
Long-lived assets |  |  |
United States | $ | 6,763 |  |  | $ | 6,877 |
Foreign | 2,995 |  |  | 2,976 |
| $ | 9,758 |  |  | $ | 9,853 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
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