XML 35 R21.htm IDEA: XBRL DOCUMENT
v3.20.2

Segment Information | 6 Months Ended
--- | ---
Jun. 30, 2020
Segment Reporting [Abstract] |
Segment Information | Segment Information As discussed in Note 1, prior period results have been reclassified to conform to the current period segment presentation. The Company’s operations are organized, managed, and classified into three reportable business segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition. 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 Business. The Ag Services and Oilseeds segment includes global activities related to the origination, merchandising, transportation, and storage of agricultural raw materials, and the 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 segment include ingredients for food, feed, energy, and industrial customers. 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 and glycols 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. The Ag Services and Oilseeds segment is also a major supplier of peanuts, tree nuts, and peanut-derived ingredients to both the U.S. and export markets. In North America, cotton cellulose pulp is manufactured and sold to the chemical, paper, and other industrial markets. The Ag Services and Oilseeds segment's grain sourcing, handling, and transportation network (including barge, ocean-going vessel, truck, rail, and container freight services) provides reliable and efficient services to the Company's customers and agricultural processing operations. The Ag Services and Oilseeds segment also includes agricultural commodity and feed product import, export, and global distribution, and structured trade finance activities. This segment also includes the Company's share of the results of its equity investment in Wilmar International Limited (Wilmar) and its share of the results of its Pacificor, Stratas Foods LLC, Edible Oils Limited, Olenex Sarl, and SoyVen joint ventures. The Carbohydrate Solutions segment is engaged in corn and wheat wet and dry milling and other activities. The Carbohydrate Solutions segment converts corn and wheat into products and ingredients used in the food and beverage industry including sweeteners, corn and wheat starches, syrup, glucose, wheat flour, and dextrose. Dextrose and starch are used by the Carbohydrate Solutions segment as feedstocks for its bioproducts operations. By fermentation of dextrose, the Carbohydrate Solutions segment produces alcohol 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. 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. Other Carbohydrate Solutions products include citric acids which are used in various food and industrial products. This segment also includes the Company’s share of the results of its equity investments in Hungrana Ltd., Almidones Mexicanos S.A., Red Star Yeast Company, LLC, and Aston Foods and Food Ingredients. The Nutrition segment serves customer needs for food, beverages, health and wellness, and more. The segment engages in the manufacturing, sale, and distribution of a wide array of products from nature including plant-based proteins, natural flavor ingredients, flavor systems, natural colors, emulsifiers, soluble fiber, polyols, hydrocolloids, natural health and nutrition products including probiotics, prebiotics, enzymes, and botanical extracts, and other specialty food and feed ingredients. The Nutrition segment includes the activities related to the procurement, processing, and distribution of edible beans. The Nutrition segment also includes activities related to the processing and distribution of formula feeds and animal health and nutrition products and the manufacture of contract and private label pet treats and foods. In January 2020, ADM acquired Yerbalatina, a natural plant-based extracts and ingredients manufacturer. Other Business includes the Company’s 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 operating profit for each segment is equity in earnings of affiliates based on the equity method of accounting. Specified items included in total segment operating profit and certain corporate items are not allocated to the Company’s individual business segments because operating performance of each business segment is evaluated by management exclusive of these items. Corporate results principally include the impact of LIFO-related adjustments, unallocated corporate expenses, interest cost net of investment income, and the Company’s share of the results of its equity investment in Compagnie Industrialle et Financiere des Produits Amylaces SA (Luxembourg) (CIP), which was sold in December 2019.
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
(In millions) | 2020 |  | 2019 |  | 2020 |  | 2019
Gross revenues |  |  |  |  |  |  |
Ag Services and Oilseeds | $ | 14,431 |  |  | $ | 13,728 |  |  | $ | 26,781 |  |  | $ | 26,601 |
Carbohydrate Solutions | 2,213 |  |  | 2,878 |  |  | 4,767 |  |  | 5,454 |
Nutrition | 1,474 |  |  | 1,541 |  |  | 2,990 |  |  | 2,841 |
Other Business | 89 |  |  | 104 |  |  | 193 |  |  | 185 |
Intersegment elimination | (1,926 | ) |  | (1,954 | ) |  | (3,480 | ) |  | (3,480 | )
Total gross revenues | $ | 16,281 |  |  | $ | 16,297 |  |  | $ | 31,251 |  |  | $ | 31,601 |
Intersegment sales |  |  |  |  |  |  |  |  |  |  |
Ag Services and Oilseeds | $ | 1,690 |  |  | $ | 1,500 |  |  | $ | 2,961 |  |  | $ | 2,835 |
Carbohydrate Solutions | 199 |  |  | 437 |  |  | 437 |  |  | 610 |
Nutrition | 37 |  |  | 17 |  |  | 82 |  |  | 35 |
Total intersegment sales | $ | 1,926 |  |  | $ | 1,954 |  |  | $ | 3,480 |  |  | $ | 3,480 |
Revenues from external customers |  |  |  |  |  |  |  |  |  |  |
Ag Services and Oilseeds |  |  |  |  |  |  |
Ag Services | $ | 8,652 |  |  | $ | 8,030 |  |  | $ | 15,578 |  |  | $ | 15,407 |
Crushing | 2,405 |  |  | 2,316 |  |  | 4,718 |  |  | 4,665 |
Refined Products and Other | 1,684 |  |  | 1,882 |  |  | 3,524 |  |  | 3,694 |
Total Ag Services and Oilseeds | 12,741 |  |  | 12,228 |  |  | 23,820 |  |  | 23,766 |
Carbohydrate Solutions |  |  |  |  |  |  |
Starches and Sweeteners | 1,545 |  |  | 1,684 |  |  | 3,195 |  |  | 3,306 |
Vantage Corn Processors | 469 |  |  | 757 |  |  | 1,135 |  |  | 1,538 |
Total Carbohydrate Solutions | 2,014 |  |  | 2,441 |  |  | 4,330 |  |  | 4,844 |
Nutrition |  |  |  |  |  |  |
Human Nutrition | 723 |  |  | 728 |  |  | 1,442 |  |  | 1,402 |
Animal Nutrition | 714 |  |  | 796 |  |  | 1,466 |  |  | 1,404 |
Total Nutrition | 1,437 |  |  | 1,524 |  |  | 2,908 |  |  | 2,806 |
Other Business | 89 |  |  | 104 |  |  | 193 |  |  | 185 |
Total revenues from external customers | $ | 16,281 |  |  | $ | 16,297 |  |  | $ | 31,251 |  |  | $ | 31,601 |
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
(In millions) | 2020 |  | 2019 |  | 2020 |  | 2019
Segment operating profit |  |  |  |  |  |  |
Ag Services and Oilseeds | $ | 413 |  |  | $ | 362 |  |  | $ | 835 |  |  | $ | 779 |
Carbohydrate Solutions | 195 |  |  | 192 |  |  | 263 |  |  | 288 |
Nutrition | 158 |  |  | 117 |  |  | 300 |  |  | 198 |
Other Business | 38 |  |  | 11 |  |  | 49 |  |  | 25 |
Specified Items: |  |  |  |  |  |  |
Gains (losses) on sales of assets and businesses(1) | 23 |  |  | — |  |  | 23 |  |  | 12 |
Impairment, restructuring, and settlement charges(2) | (14 | ) |  | (37 | ) |  | (58 | ) |  | (46 | )
Total segment operating profit | 813 |  |  | 645 |  |  | 1,412 |  |  | 1,256 |
Corporate | (261 | ) |  | (371 | ) |  | (485 | ) |  | (667 | )
Earnings before income taxes | $ | 552 |  |  | $ | 274 |  |  | $ | 927 |  |  | $ | 589 |
(1) Current quarter and year-to-date gain consisted of a gain on the sale of certain assets. Prior year-to-date gains consisted of a gain on the sale of certain assets and a step up gain on an equity investment. (2) Current quarter and year-to-date charges related to the impairment of certain long-lived assets and restructuring. Prior quarter and year-to-date charges related to the impairment of certain long-lived assets and a settlement.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration