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Segment and Geographic Information | 12 Months Ended
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Dec. 31, 2021
Segment Reporting [Abstract] |
Segment And Geographic Information | Segment and Geographic InformationThe 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” to manufacturers of renewable green diesel and other customers 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 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. Structured trade finance’s activities include programs under which ADM prepays financial institutions, on a discounted basis, U.S. dollar-denominated letters of credit based on underlying commodity trade flows. This segment also includes the Company’s share of the results of its equity investment in Wilmar and its share of the results of its Pacificor, Stratas Foods LLC, Edible Oils Limited, Olenex, and SoyVen joint ventures. In December 2021, the Company entered into a joint venture with Marathon Petroleum Corp. for the production of soybean oil to supply rapidly growing demand for renewable diesel fuel. 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 in other downstream processes. 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 in products such as hand sanitizers and ethanol for use in gasoline due to its ability to increase octane 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. The Carbohydrate Solutions segment has announced various memorandums of understanding with potential strategic partners leveraging our core production capabilities and carbon sequestration experience to facilitate the production of low carbon, bio-based products such as sustainable aviation fuel and innovative renewable chemicals. 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. In November 2021, the Company sold its ethanol production complex in Peoria, Illinois. The Nutrition segment serves various end markets including food, beverages, nutritional supplements, and feed and premix for livestock, aquaculture, and pet food. The segment engages in the manufacturing, sale, and distribution of a wide array of ingredients and solutions including plant-based proteins, natural flavors, flavor systems, natural colors, emulsifiers, soluble fiber, polyols, hydrocolloids, probiotics, prebiotics, enzymes, 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 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. ADM acquired Golden Farm Production & Commerce Company Limited in April 2021, a 75% majority stake in PetDine, Pedigree Ovens, The Pound Bakery, and NutraDine (collectively, “P4”), premier providers of private label pet treats and supplements, in September 2021, U.S.-based Deerland Probiotics & Enzymes, a leader in probiotic, prebiotic, and enzyme technology, in November 2021, Sojaprotein, a leading European provider of non-GMO soy ingredients, in November 2021, and Flavor Infusion International, S.A., a full-range provider of flavor and specialty ingredient solutions for customers across Latin America and the Caribbean, in December 2021. 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 interest income, revaluation gains and losses on cost method investments and the share of the results of equity investments in early-stage start-up companies that ADM Ventures has investments in, and the Company’s share of the results of its equity investment in CIP, which was sold in December 2019. Segment Information
| Year Ended
(In millions) | December 31
| 2021 |  | 2020 |  | 2019
Gross revenues |  |  |  |  |
Ag Services and Oilseeds | $ | 70,455 |  |  | $ | 55,667 |  |  | $ | 54,633 |
Carbohydrate Solutions | 12,672 |  |  | 9,423 |  |  | 11,154 |
Nutrition | 6,933 |  |  | 5,959 |  |  | 5,786 |
Other | 380 |  |  | 367 |  |  | 352 |
Intersegment elimination | (5,191) |  |  | (7,061) |  |  | (7,269) |
Total | $ | 85,249 |  |  | $ | 64,355 |  |  | $ | 64,656 |
Intersegment revenues |  |  |  |  |
Ag Services and Oilseeds | $ | 3,408 |  |  | $ | 5,951 |  |  | $ | 5,892 |
Carbohydrate Solutions | 1,562 |  |  | 951 |  |  | 1,268 |
Nutrition | 221 |  |  | 159 |  |  | 109 |
Total | $ | 5,191 |  |  | $ | 7,061 |  |  | $ | 7,269 |
Revenues from external customers |  |  |  |  |
Ag Services and Oilseeds |  |  |  |  |
Ag Services | $ | 45,017 |  |  | $ | 32,726 |  |  | $ | 31,705 |
Crushing | 11,368 |  |  | 9,593 |  |  | 9,479 |
Refined Products and Other | 10,662 |  |  | 7,397 |  |  | 7,557 |
Total Ag Services and Oilseeds | 67,047 |  |  | 49,716 |  |  | 48,741 |
Carbohydrate Solutions |  |  |  |  |
Starches and Sweeteners | 7,611 |  |  | 6,387 |  |  | 6,854 |
Vantage Corn Processors | 3,499 |  |  | 2,085 |  |  | 3,032 |
Total Carbohydrate Solutions | 11,110 |  |  | 8,472 |  |  | 9,886 |
Nutrition |  |  |  |  |
Human Nutrition | 3,189 |  |  | 2,812 |  |  | 2,745 |
Animal Nutrition | 3,523 |  |  | 2,988 |  |  | 2,932 |
Total Nutrition | 6,712 |  |  | 5,800 |  |  | 5,677 |
Other | 380 |  |  | 367 |  |  | 352 |
Total | $ | 85,249 |  |  | $ | 64,355 |  |  | $ | 64,656 |
| Year Ended
(In millions) | December 31
| 2021 |  | 2020 |  | 2019
Depreciation |  |  |  |  |
Ag Services and Oilseeds | $ | 349 |  |  | $ | 351 |  |  | $ | 361 |
Carbohydrate Solutions | 322 |  |  | 305 |  |  | 320 |
Nutrition | 101 |  |  | 114 |  |  | 113 |
Other | 8 |  |  | 6 |  |  | 6 |
Corporate | 27 |  |  | 24 |  |  | 23 |
Total | $ | 807 |  |  | $ | 800 |  |  | $ | 823 |
Long-lived asset abandonments and write-downs(1) |  |  |  |  |
Ag Services and Oilseeds | $ | 10 |  |  | $ | 8 |  |  | $ | 130 |
Carbohydrate Solutions | 13 |  |  | — |  |  | 1 |
Nutrition | 50 |  |  | 13 |  |  | — |
Corporate | — |  |  | 7 |  |  | — |
Total | $ | 73 |  |  | $ | 28 |  |  | $ | 131 |
Investment income |  |  |  |  |
Ag Services and Oilseeds | $ | 27 |  |  | $ | 39 |  |  | $ | 51 |
Nutrition | 1 |  |  | 2 |  |  | 1 |
Other | 16 |  |  | 40 |  |  | 125 |
Corporate | 52 |  |  | 30 |  |  | 19 |
Total | $ | 96 |  |  | $ | 111 |  |  | $ | 196 |
Equity in earnings of affiliates |  |  |  |  |
Ag Services and Oilseeds | $ | 500 |  |  | $ | 475 |  |  | $ | 378 |
Carbohydrate Solutions | 70 |  |  | 81 |  |  | 60 |
Nutrition | 24 |  |  | 22 |  |  | 17 |
Corporate | 1 |  |  | 1 |  |  | (1) |
Total | $ | 595 |  |  | $ | 579 |  |  | $ | 454 |
(1) See Note 18 for total asset impairment, exit, and restructuring costs. |  |  |  |  |
| Year Ended
(In millions) | December 31
| 2021 |  | 2020 |  | 2019
Segment Operating Profit |  |  |  |  |
Ag Services and Oilseeds | $ | 2,775 |  |  | $ | 2,105 |  |  | $ | 1,935 |
Carbohydrate Solutions | 1,283 |  |  | 717 |  |  | 644 |
Nutrition | 691 |  |  | 574 |  |  | 418 |
Other | 25 |  |  | 52 |  |  | 85 |
Specified Items: |  |  |  |  |
Gains on sales of assets and businesses(1) | 77 |  |  | 83 |  |  | 12 |
Impairment, restructuring, exit, and settlement charges(2) | (213) |  |  | (76) |  |  | (146) |
Total segment operating profit | 4,638 |  |  | 3,455 |  |  | 2,948 |
Corporate | (1,325) |  |  | (1,572) |  |  | (1,360) |
Earnings before income taxes | $ | 3,313 |  |  | $ | 1,883 |  |  | $ | 1,588 |
(1) The gains in 2021 were related to the sale of certain ethanol and other assets. The gains in 2020 were related to the sale of a portion of the Company’s shares in Wilmar and certain other assets. The gains in 2019 were related to the sale of certain assets and a step-up gain on an equity investment. (2) The charges in 2021 were related to the impairment of certain long-lived assets, goodwill, and other intangibles, restructuring, and a legal settlement. The charges in 2020 were related to the impairment of certain assets, restructuring, and settlement. The charges in 2019 were primarily related to the impairment of certain assets. .
(In millions) | December 31
| 2021 |  | 2020
Investments in and advances to affiliates |  |  |
Ag Services and Oilseeds | $ | 4,826 |  |  | $ | 4,402 |
Carbohydrate Solutions | 358 |  |  | 392 |
Nutrition | 56 |  |  | 102 |
Corporate | 45 |  |  | 17 |
Total | $ | 5,285 |  |  | $ | 4,913 |
Identifiable assets |  |  |
Ag Services and Oilseeds | $ | 25,976 |  |  | $ | 24,792 |
Carbohydrate Solutions | 6,238 |  |  | 5,963 |
Nutrition | 10,142 |  |  | 8,652 |
Other | 9,235 |  |  | 7,152 |
Corporate | 4,545 |  |  | 3,160 |
Total | $ | 56,136 |  |  | $ | 49,719 |
(In millions) | Year Ended December 31
| 2021 |  | 2020
Gross additions to property, plant, and equipment |  |  |
Ag Services and Oilseeds | $ | 451 |  |  | $ | 261 |
Carbohydrate Solutions | 260 |  |  | 251 |
Nutrition | 242 |  |  | 149 |
Other | 7 |  |  | 8 |
Corporate | 45 |  |  | 30 |
Total | $ | 1,005 |  |  | $ | 699 |
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
| 2021 |  | 2020 |  | 2019
Revenues |  |  |  |  |
United States | $ | 35,396 |  |  | $ | 25,986 |  |  | $ | 27,509 |
Switzerland | 18,453 |  |  | 13,819 |  |  | 13,016 |
Cayman Islands | 5,515 |  |  | 3,958 |  |  | 4,374 |
Brazil | 3,213 |  |  | 2,357 |  |  | 2,381 |
Mexico | 2,934 |  |  | 2,244 |  |  | 2,068 |
United Kingdom | 1,848 |  |  | 1,519 |  |  | 1,563 |
Other Foreign | 17,890 |  |  | 14,472 |  |  | 13,745 |
| $ | 85,249 |  |  | $ | 64,355 |  |  | $ | 64,656 |
(In millions) | December 31
| 2021 |  | 2020
Long-lived assets |  |  |
United States | $ | 6,098 |  |  | $ | 6,157 |
Brazil | 760 |  |  | 781 |
Other Foreign | 2,945 |  |  | 2,841 |
| $ | 9,803 |  |  | $ | 9,779 |

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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
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