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Quarterly Financial Data | 12 Months Ended
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Dec. 31, 2018
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, 2018 |  |  |  |  |  |  |  |  |
Revenues | $ | 15,526 |  |  | $ | 17,068 |  |  | $ | 15,800 |  |  | $ | 15,947 |  |  | $ | 64,341 |
Gross Profit | 889 |  |  | 1,181 |  |  | 1,058 |  |  | 1,053 |  |  | 4,181 |
Net Earnings Attributable to Controlling Interests | 393 |  |  | 566 |  |  | 536 |  |  | 315 |  |  | 1,810 |
Basic Earnings Per Common Share | 0.70 |  |  | 1.00 |  |  | 0.95 |  |  | 0.56 |  |  | 3.21 |
Diluted Earnings Per Common Share | 0.70 |  |  | 1.00 |  |  | 0.94 |  |  | 0.55 |  |  | 3.19 |
| 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 | 872 |  |  | 892 |  |  | 812 |  |  | 942 |  |  | 3,518 |
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 |
Net earnings attributable to controlling interests for the first quarter of the year ended December 31, 2018 included after-tax charges of $12 million (equal to $0.02 per share), primarily related to the impairment of an equity investment and several individually insignificant asset impairments and restructuring charges and a $14 million (equal to $0.03 per share) provisional tax benefit adjustment related to the enactment of the Tax Cuts and Jobs Act. Net earnings attributable to controlling interests for the second quarter of the year ended December 31, 2018 included after-tax charges of $16 million (equal to $0.03 per share), primarily related to the impairment of a long-term financing receivable and several individually insignificant restructuring charges and a $7 million (equal to $0.01 per share) provisional tax expense adjustment related to the enactment of the Tax Cuts and Jobs Act and certain discrete items. Net earnings attributable to controlling interests for the third quarter of the year ended December 31, 2018 included after-tax gains of $20 million (equal to $0.04 per share) related to the sale of a business and an equity investment and a $3 million (equal to $0.01 per share) provisional tax expense adjustment related to the enactment of the Tax Cuts and Jobs Acts. Net earnings attributable to controlling interests for the fourth quarter of the year ended December 31, 2018 included after-tax losses $7 million (equal to $0.02 per share), primarily related to the sale of an asset and a business; after-tax charges of $196 million (equal to 0.35 per share), consisting of a non-cash pension settlement charge related to the transfer of future benefit obligations and annuity administration for certain retirees under the Company's ADM Retirement Plan, a charge related to a discontinued software project in Corporate, asset impairments related to certain long-lived assets, restructuring charges primarily related to the reorganization of IT services in Corporate, and other settlement charges; after-tax charges of $9 million (equal to $0.01 per share) related to acquisition expenses and net losses on foreign currency derivative contracts to economically hedge certain acquisitions; and a $29 million (equal to $0.05 per share) provisional tax benefit adjustment related to the enactment of the Tax Cuts and Jobs Act and certain discrete items. Net earnings attributable to controlling interests for the first quarter of the year ended December 31, 2017 included 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 year ended December 31, 2017 included 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 year ended December 31, 2017 included 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 year ended December 31, 2017 included 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 and certain discrete items.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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