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v3.22.4

Segment and Geographic Information (Tables) | 12 Months Ended
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Dec. 31, 2022
Segment Reporting [Abstract] |
Segment Information | Segment Information
| Year Ended
(In millions) | December 31
| 2022 |  | 2021 |  | 2020
Gross revenues |  |  |  |  |
Ag Services and Oilseeds | $ | 83,686 |  |  | $ | 70,455 |  |  | $ | 55,667 |
Carbohydrate Solutions | 16,336 |  |  | 12,672 |  |  | 9,423 |
Nutrition | 7,836 |  |  | 6,933 |  |  | 5,959 |
Other | 396 |  |  | 380 |  |  | 367 |
Intersegment elimination | (6,698) |  |  | (5,191) |  |  | (7,061) |
Total | $ | 101,556 |  |  | $ | 85,249 |  |  | $ | 64,355 |
Intersegment revenues |  |  |  |  |
Ag Services and Oilseeds | $ | 4,123 |  |  | $ | 3,408 |  |  | $ | 5,951 |
Carbohydrate Solutions | 2,375 |  |  | 1,562 |  |  | 951 |
Nutrition | 200 |  |  | 221 |  |  | 159 |
Total | $ | 6,698 |  |  | $ | 5,191 |  |  | $ | 7,061 |
Revenues from external customers |  |  |  |  |
Ag Services and Oilseeds |  |  |  |  |
Ag Services | $ | 53,181 |  |  | $ | 45,017 |  |  | $ | 32,726 |
Crushing | 13,139 |  |  | 11,368 |  |  | 9,593 |
Refined Products and Other | 13,243 |  |  | 10,662 |  |  | 7,397 |
Total Ag Services and Oilseeds | 79,563 |  |  | 67,047 |  |  | 49,716 |
Carbohydrate Solutions |  |  |  |  |
Starches and Sweeteners | 10,251 |  |  | 7,611 |  |  | 6,387 |
Vantage Corn Processors | 3,710 |  |  | 3,499 |  |  | 2,085 |
Total Carbohydrate Solutions | 13,961 |  |  | 11,110 |  |  | 8,472 |
Nutrition |  |  |  |  |
Human Nutrition | 3,769 |  |  | 3,189 |  |  | 2,812 |
Animal Nutrition | 3,867 |  |  | 3,523 |  |  | 2,988 |
Total Nutrition | 7,636 |  |  | 6,712 |  |  | 5,800 |
Other | 396 |  |  | 380 |  |  | 367 |
Total | $ | 101,556 |  |  | $ | 85,249 |  |  | $ | 64,355 |
| Year Ended
(In millions) | December 31
| 2022 |  | 2021 |  | 2020
Depreciation |  |  |  |  |
Ag Services and Oilseeds | $ | 334 |  |  | $ | 349 |  |  | $ | 351 |
Carbohydrate Solutions | 307 |  |  | 322 |  |  | 305 |
Nutrition | 120 |  |  | 101 |  |  | 114 |
Other | 9 |  |  | 8 |  |  | 6 |
Corporate | 24 |  |  | 27 |  |  | 24 |
Total | $ | 794 |  |  | $ | 807 |  |  | $ | 800 |
Long-lived asset impairments(1) |  |  |  |  |
Ag Services and Oilseeds | $ | — |  |  | $ | 10 |  |  | $ | 8 |
Carbohydrate Solutions | 14 |  |  | 13 |  |  | — |
Nutrition | 21 |  |  | 50 |  |  | 13 |
Corporate | — |  |  | — |  |  | 7 |
Total | $ | 35 |  |  | $ | 73 |  |  | $ | 28 |
Interest and investment income |  |  |  |  |
Ag Services and Oilseeds | $ | 52 |  |  | $ | 27 |  |  | $ | 39 |
Nutrition | 2 |  |  | 1 |  |  | 2 |
Other | 185 |  |  | 16 |  |  | 40 |
Corporate | 54 |  |  | 52 |  |  | 30 |
Total | $ | 293 |  |  | $ | 96 |  |  | $ | 111 |
Equity in earnings of affiliates |  |  |  |  |
Ag Services and Oilseeds | $ | 714 |  |  | $ | 500 |  |  | $ | 475 |
Carbohydrate Solutions | 94 |  |  | 70 |  |  | 81 |
Nutrition | 23 |  |  | 24 |  |  | 22 |
Corporate | 1 |  |  | 1 |  |  | 1 |
Total | $ | 832 |  |  | $ | 595 |  |  | $ | 579 |
(1) See Note 18 for total asset impairment, exit, and restructuring costs. |  |  |  |  |
| Year Ended
(In millions) | December 31
| 2022 |  | 2021 |  | 2020
Segment Operating Profit |  |  |  |  |
Ag Services and Oilseeds | $ | 4,386 |  |  | $ | 2,775 |  |  | $ | 2,105 |
Carbohydrate Solutions | 1,360 |  |  | 1,283 |  |  | 717 |
Nutrition | 736 |  |  | 691 |  |  | 574 |
Other | 167 |  |  | 25 |  |  | 52 |
Specified Items: |  |  |  |  |
Gains on sales of assets and businesses(1) | 47 |  |  | 77 |  |  | 83 |
Impairment, restructuring, and settlement charges(2) | (147) |  |  | (213) |  |  | (76) |
Total segment operating profit | 6,549 |  |  | 4,638 |  |  | 3,455 |
Corporate | (1,316) |  |  | (1,325) |  |  | (1,572) |
Earnings before income taxes | $ | 5,233 |  |  | $ | 3,313 |  |  | $ | 1,883 |
(1) The gains in 2022 were related to the sale of certain assets. The gains in 2021 were related to the sale of ethanol and certain 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. (2) The charges in 2022 were related to the impairment of certain assets, restructuring, and settlement contingencies. 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.
(In millions) | December 31
| 2022 |  | 2021
Investments in and advances to affiliates |  |  |
Ag Services and Oilseeds | $ | 4,863 |  |  | $ | 4,826 |
Carbohydrate Solutions | 365 |  |  | 358 |
Nutrition | 111 |  |  | 56 |
Corporate | 128 |  |  | 45 |
Total | $ | 5,467 |  |  | $ | 5,285 |
Identifiable assets |  |  |
Ag Services and Oilseeds | $ | 28,657 |  |  | $ | 25,976 |
Carbohydrate Solutions | 6,801 |  |  | 6,238 |
Nutrition | 10,615 |  |  | 10,142 |
Other | 10,569 |  |  | 9,235 |
Corporate | 3,132 |  |  | 4,545 |
Total | $ | 59,774 |  |  | $ | 56,136 |
(In millions) | Year Ended December 31
| 2022 |  | 2021
Gross additions to property, plant, and equipment |  |  |
Ag Services and Oilseeds | $ | 568 |  |  | $ | 451 |
Carbohydrate Solutions | 261 |  |  | 260 |
Nutrition | 314 |  |  | 242 |
Other | 15 |  |  | 7 |
Corporate | 53 |  |  | 45 |
Total | $ | 1,211 |  |  | $ | 1,005 |
Geographic Information | 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
| 2022 |  | 2021 |  | 2020
Revenues |  |  |  |  |
United States | $ | 43,272 |  |  | $ | 35,396 |  |  | $ | 25,986 |
Switzerland | 21,821 |  |  | 18,453 |  |  | 13,819 |
Cayman Islands | 5,883 |  |  | 5,515 |  |  | 3,958 |
Brazil | 4,004 |  |  | 3,213 |  |  | 2,357 |
Mexico | 3,709 |  |  | 2,934 |  |  | 2,244 |
Canada | 2,272 |  |  | 1,818 |  |  | 1,280 |
United Kingdom | 2,231 |  |  | 1,848 |  |  | 1,519 |
Other Foreign | 18,364 |  |  | 16,072 |  |  | 13,192 |
| $ | 101,556 |  |  | $ | 85,249 |  |  | $ | 64,355 |
(In millions) | December 31
| 2022 |  | 2021
Long-lived assets |  |  |
United States | $ | 6,322 |  |  | $ | 6,098 |
Brazil | 801 |  |  | 760 |
Other Foreign | 2,810 |  |  | 2,945 |
| $ | 9,933 |  |  | $ | 9,803 |

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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