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Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Segment Information | The following tables present adjustments to intersegment sales and segment operating profit amounts for the three and nine months ended September 30, 2023 for each reportable segment. Impact of the Restatement on the Ag Services and Oilseeds Segment
|  |  | Three Months Ended |  |  | Nine Months Ended
(In millions) |  |  | September 30, 2023 (Restated) |  |  | September 30, 2023 (Restated)
Intersegment revenues, as originally reported |  |  | $ | 1,164 |  |  |  | $ | 3,519 |
Intersegment pricing adjustments |  |  | — |  |  |  | 2 |
Intersegment classification adjustments |  |  | (532) |  |  |  | (1,447) |
Additional intersegment classification adjustments |  |  | (38) |  |  |  | (388) |
Intersegment revenues, as restated |  |  | $ | 594 |  |  |  | $ | 1,686 |
Segment operating profit, as originally reported |  |  | $ | 848 |  |  |  | $ | 3,112 |
Intersegment pricing adjustments |  |  | — |  |  |  | 1 |
Segment operating profit, as restated |  |  | $ | 848 |  |  |  | $ | 3,113 |
Impact of the Restatement on the Carbohydrate Solutions Segment
|  |  | Three Months Ended |  |  | Nine Months Ended
(In millions) |  |  | September 30, 2023 (Restated) |  |  | September 30, 2023 (Restated)
Intersegment revenues, as originally reported |  |  | $ | 159 |  |  |  | $ | 1,336 |
Intersegment pricing adjustments |  |  | 8 |  |  |  | 30 |
Intersegment classification adjustments |  |  | 278 |  |  |  | (12) |
Additional intersegment revenue classifications |  |  | (213) |  |  |  | (628) |
Intersegment revenues, as restated |  |  | $ | 232 |  |  |  | $ | 726 |
Segment operating profit, as originally reported |  |  | $ | 460 |  |  |  | $ | 1,036 |
Intersegment pricing adjustments |  |  | 8 |  |  |  | 30 |
Segment operating profit, as restated |  |  | $ | 468 |  |  |  | $ | 1,066 |
Impact of the Restatement on the Nutrition Segment
|  |  | Three Months Ended |  |  | Nine Months Ended
(In millions) |  |  | September 30, 2023 (Restated) |  |  | September 30, 2023 (Restated)
Intersegment revenues, as originally reported |  |  | $ | 67 |  |  |  | $ | 231 |
Intersegment pricing adjustments |  |  | — |  |  |  | — |
Intersegment classification adjustments |  |  | (47) |  |  |  | (141) |
Additional intersegment classification adjustments |  |  | (9) |  |  |  | (55) |
Intersegment revenues, as restated |  |  | $ | 11 |  |  |  | $ | 35 |
Segment operating profit, as originally reported |  |  | $ | 138 |  |  |  | $ | 468 |
Intersegment pricing adjustments |  |  | (8) |  |  |  | (31) |
Segment operating profit, as restated |  |  | $ | 130 |  |  |  | $ | 437 |
For more information about the Company’s reportable segments, refer to Note 17 of “Notes to Consolidated Financial Statements” included in Item 8, “Financial Statements and Supplementary Data” included in the Company’s Annual Report on Form 10-K/A for the year ended December 31, 2023. Segment Information for the Three and Nine Months ended September 30, 2024 and 2023 The following table reflects results of operations of the Company’s reportable segments (in millions).
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
(In millions) | 2024 |  | 2023 |  | 2024 |  | 2023
Revenues from external customers |  |  |  |  |  |  |
Ag Services and Oilseeds |  |  |  |  |  |  |
Ag Services | $ | 9,653 |  |  | $ | 10,198 |  |  | $ | 32,597 |  |  | $ | 35,259 |
Crushing | 2,869 |  |  | 3,352 |  |  | 9,046 |  |  | 10,515 |
Refined Products and Other | 2,567 |  |  | 2,929 |  |  | 7,999 |  |  | 9,128 |
Total Ag Services and Oilseeds | 15,089 |  |  | 16,479 |  |  | 49,642 |  |  | 54,902 |
Carbohydrate Solutions |  |  |  |  |  |  |
Starches and Sweeteners | 2,192 |  |  | 2,448 |  |  | 6,559 |  |  | 7,660 |
Vantage Corn Processors | 716 |  |  | 877 |  |  | 1,925 |  |  | 2,583 |
Total Carbohydrate Solutions | 2,908 |  |  | 3,325 |  |  | 8,484 |  |  | 10,243 |
Nutrition |  |  |  |  |  |  |
Human Nutrition | 1,004 |  |  | 900 |  |  | 3,029 |  |  | 2,802 |
Animal Nutrition | 827 |  |  | 884 |  |  | 2,546 |  |  | 2,688 |
Total Nutrition | 1,831 |  |  | 1,784 |  |  | 5,575 |  |  | 5,490 |
Total segment revenues from external customers | 19,828 |  |  | 21,588 |  |  | 63,701 |  |  | 70,635 |
Other Business | 109 |  |  | 107 |  |  | 331 |  |  | 322 |
Total revenues from external customers | $ | 19,937 |  |  | $ | 21,695 |  |  | $ | 64,032 |  |  | $ | 70,957 |
Intersegment revenues(1) |  |  |  |  |  |  |
Ag Services and Oilseeds | $ | 463 |  |  | $ | 594 |  |  | $ | 1,320 |  |  | $ | 1,686 |
Carbohydrate Solutions | 247 |  |  | 232 |  |  | 680 |  |  | 726 |
Nutrition | 23 |  |  | 11 |  |  | 55 |  |  | 35 |
Total intersegment revenues | $ | 733 |  |  | $ | 837 |  |  | $ | 2,055 |  |  | $ | 2,447 |
Segment operating profit(1) |  |  |  |  |  |  |
Ag Services and Oilseeds | $ | 480 |  |  | $ | 848 |  |  | $ | 1,803 |  |  | $ | 3,113 |
Carbohydrate Solutions | 452 |  |  | 468 |  |  | 1,057 |  |  | 1,066 |
Nutrition | 105 |  |  | 130 |  |  | 298 |  |  | 437 |
Total segment operating profit | 1,037 |  |  | 1,446 |  |  | 3,158 |  |  | 4,616 |
Other Business (loss) earnings | (17) |  |  | 46 |  |  | 200 |  |  | 229 |
Corporate(2) | (409) |  |  | (390) |  |  | (1,254) |  |  | (1,105) |
Specified items: |  |  |  |  |  |  |
(Gain) loss on sales of assets | 1 |  |  | (2) |  |  | 1 |  |  | 10 |
Impairment and restructuring charges | (504) |  |  | (69) |  |  | (517) |  |  | (190) |
Earnings before income taxes | $ | 108 |  |  | $ | 1,031 |  |  | $ | 1,588 |  |  | $ | 3,560 |
(1)Amounts presented for Intersegment revenues and Segment operating profit for the three and nine months ended September 30, 2023 reflect the restatements described above. (2)Includes restructuring costs of $12 million and $5 million for the nine months ended September 30, 2024 and 2023, respectively. Includes restructuring costs of $2 million for the three months ended September 30, 2023.

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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 -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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