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Quarterly Financial Data | 12 Months Ended
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Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Data | Quarterly Financial Data (Unaudited)
| Quarter Ended |  |
| March 31 |  | June 30 |  | September 30 |  | December 31 |  | Year
| (In millions, except per share amounts)
Fiscal Year Ended December 31, 2016 |  |  |  |  |  |  |  |  |
Revenues | $ | 14,384 |  |  | $ | 15,629 |  |  | $ | 15,832 |  |  | $ | 16,501 |  |  | $ | 62,346 |
Gross Profit | 796 |  |  | 757 |  |  | 1,105 |  |  | 1,026 |  |  | 3,684 |
Net Earnings Attributable to Controlling Interests | 230 |  |  | 284 |  |  | 341 |  |  | 424 |  |  | 1,279 |
Basic Earnings Per Common Share | 0.39 |  |  | 0.48 |  |  | 0.58 |  |  | 0.73 |  |  | 2.18 |
Diluted Earnings Per Common Share | 0.39 |  |  | 0.48 |  |  | 0.58 |  |  | 0.73 |  |  | 2.16 |
| Quarter Ended |  |
| March 31 |  | June 30 |  | September 30 |  | December 31 |  | Year
| (In millions, except per share amounts)
Fiscal Year Ended December 31, 2015 |  |  |  |  |  |  |  |  |
Revenues | $ | 17,506 |  |  | $ | 17,186 |  |  | $ | 16,565 |  |  | $ | 16,445 |  |  | $ | 67,702 |
Gross Profit | 1,102 |  |  | 964 |  |  | 1,089 |  |  | 865 |  |  | 4,020 |
Net Earnings Attributable to Controlling Interests | 493 |  |  | 386 |  |  | 252 |  |  | 718 |  |  | 1,849 |
Basic Earnings Per Common Share | 0.78 |  |  | 0.62 |  |  | 0.41 |  |  | 1.20 |  |  | 2.99 |
Diluted Earnings Per Common Share | 0.77 |  |  | 0.62 |  |  | 0.41 |  |  | 1.19 |  |  | 2.98 |
Net earnings attributable to controlling interests for the first quarter of the fiscal year ended December 31, 2016 include after-tax charges of $8 million (equal to $0.01 per share), primarily related to software impairment and restructuring charges. Net earnings attributable to controlling interests for the second quarter of the fiscal year ended December 31, 2016 include after-tax gains of $101 million (equal to $0.17 per share), primarily related to a gain, including the recovery of loss provisions, on the sale of the Company’s Brazilian sugar ethanol facilities, realized contingent consideration on the sale of the Company’s equity investment in Gruma S.A. de C.V. in December 2012, and revaluation of the remaining interest to settlement value in conjunction with the acquisition of Amazon Flavors, partially offset by a loss on sale of asset; after-tax charges of $8 million (equal to $0.01 per share) primarily related to impairment of certain long-lived assets and restructuring charges; certain discrete tax adjustments of $6 million (equal to $0.01 per share) related to valuation allowances. Net earnings attributable to controlling interests for the third quarter of the fiscal year ended December 31, 2016 include after-tax losses totalling $9 million (equal to $0.02 per share), primarily related to a loss on sale of an equity investment; and after-tax charges of $48 million (equal to $0.08 per share) primarily related to legal fees and settlement, impairment of certain long-lived assets and investments, and restructuring charges. Net earnings attributable to controlling interests for the fourth quarter of the fiscal year ended December 31, 2016 include after-tax charges of $13 million (equal to $0.03 per share) related to impairment of certain long-lived assets and restructuring charges; an after-tax gain of $24 million (equal to $0.04 per share) related to a U.S. retiree medical benefit plan curtailment; and certain discrete tax adjustments totaling $21 million (equal to $0.03 per share) related to valuation allowances, deferred tax re-rates, and changes in assertion. Net earnings attributable to controlling interests for the second quarter of the fiscal year ended December 31, 2015 include after-tax gains totaling $71 million (equal to $0.11 per share) related to the revaluation of the Company’s previously held investments in North Star Shipping and Minmetal in conjunction with the acquisition of the remaining interests, the sale of a 50% interest in the Barcarena export terminal facility in Brazil to Glencore plc, and sale of the lactic business as discussed in Note 12; after-tax charges of $28 million (equal to $0.04 per share) primarily related to impairment of certain long-lived assets as discussed in Note 18; and certain discrete tax adjustments of $13 million (equal to $0.02 per share) related to valuation allowances. Net earnings attributable to controlling interests for the third quarter of the fiscal year ended December 31, 2015 include a gain on the sale of the global chocolate business of $23 million after tax (equal to $0.04 per share) as discussed in Note 12; fixed asset impairment charges related primarily to sugar ethanol facilities in Brazil in the Corn Processing segment of $35 million after tax (equal to $0.06 per share) as discussed in Note 18; restructuring charges related to an international pension plan settlement of $26 million after tax (equal to $0.04 per share) as discussed on Note 18; and an after-tax loss on debt extinguishment of $118 million (equal to $0.19 per share) related to the cash tender offers and redemption of certain of the Company’s outstanding debentures as discussed in Note 12. Net earnings attributable to controlling interests for the fourth quarter of the fiscal year ended December 31, 2015 include after-tax gains totaling $421 million (equal to $0.70 per share) related primarily to the sale of the chocolate and cocoa businesses, and the revaluation of the Company’s previously held investment in Eaststarch C.V. in conjunction with the acquisition of the remaining interest as discussed in Note 12; after-tax restructuring and exit costs totaling $33 million (equal to $0.06 per share) related to sugar ethanol facilities in Brazil, and other restructuring charges as discussed in Note 18; after-tax loss provisions, settlement charges, and inventory writedown totaling $58 million (equal to $0.10 per share); after-tax goodwill, intangible and property, plant, and equipment asset impairments totaling $50 million (equal to $0.08 per share) as discussed in Note 18; and certain discrete tax adjustments totaling $73 million (equal to $0.12 per share) related to valuation allowances and deferred tax re-rates.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=68076893&loc=d3e1570-108306 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e765-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68064558&loc=d3e725-108305 + Details
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