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Quarterly Financial Data | 12 Months Ended
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Dec. 31, 2017
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, 2017 |  |  |  |  |  |  |  |  |
Revenues | $ | 14,988 |  |  | $ | 14,943 |  |  | $ | 14,827 |  |  | $ | 16,070 |  |  | $ | 60,828 |
Gross Profit | 868 |  |  | 887 |  |  | 812 |  |  | 939 |  |  | 3,506 |
Net Earnings Attributable to Controlling Interests | 339 |  |  | 276 |  |  | 192 |  |  | 788 |  |  | 1,595 |
Basic Earnings Per Common Share | 0.59 |  |  | 0.48 |  |  | 0.34 |  |  | 1.40 |  |  | 2.80 |
Diluted Earnings Per Common Share | 0.59 |  |  | 0.48 |  |  | 0.34 |  |  | 1.39 |  |  | 2.79 |
| 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 | 781 |  |  | 737 |  |  | 1,090 |  |  | 1,011 |  |  | 3,619 |
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 |
Net earnings attributable to controlling interests for the first quarter of the fiscal year ended December 31, 2017 include after-tax charges of $8 million (equal to $0.01 per share), related to several individually insignificant asset impairments and restructuring charges and certain discrete tax adjustments of $4 million (equal to $0.01 per share), related to valuation allowances. Net earnings attributable to controlling interests for the second quarter of the fiscal year ended December 31, 2017 include after-tax charges of $21 million (equal to $0.04 per share), related to impairment of certain long-lived assets, restructuring, and a settlement, and after-tax losses of $22 million (equal to $0.04 per share), related to an adjustment of the proceeds of the 2015 sale of the cocoa business partially offset by the gain on sale of the crop risk business. Net earnings attributable to controlling interests for the third quarter of the fiscal year ended December 31, 2017 include after-tax charges of $69 million (equal to $0.12 per share), for asset impairments related to the reconfiguration of the Company’s Peoria, Illinois ethanol complex and restructuring related to the reduction of certain positions within the Company’s global workforce; after-tax gains of $10 million (equal to $0.02 per share), related to an adjustment of the proceeds of the 2015 sale of the cocoa business and a gain on sale of asset; and an after-tax debt extinguishment charge of $7 million (equal to $0.01 per share), related to the early redemption of the $559 million notes due on March 15, 2018. Net earnings attributable to controlling interests for the fourth quarter of the fiscal year ended December 31, 2017 include after-tax charges of $46 million (equal to $0.08 per share), related to a legal settlement, asset impairments primarily related to the closure of a facility and several individually insignificant asset impairments and restructuring charges, and a net tax adjustment of $370 million (equal to $0.65 per share) related to the estimated impact of the Tax Cuts and Jobs Act U.S. tax reform and certain discrete items. 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; and 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 totaling $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.

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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 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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