XML 50 R38.htm IDEA: XBRL DOCUMENT
v3.24.3

Segment Information (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Segment Reporting [Abstract] |
Segment Information | Impact of the Restatement on the Ag Services and Oilseeds Segment
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
(In millions) | 2024 (Restated) | 2023 (Restated) |  | 2024 (Restated) | 2023 (Restated)
Intersegment revenues, as originally reported | $ | 546 |  | $ | 1,020 |  |  | $ | 1,155 |  | $ | 2,355 |
Intersegment pricing adjustments | — |  | 1 |  |  | — |  | 2 |
Intersegment classification adjustments | — |  | (320) |  |  | — |  | (915) |
Intersegment revenues, as previously reported | 546 |  | 701 |  |  | 1,155 |  | 1,442 |
Additional intersegment classification adjustments | (114) |  | (139) |  |  | (297) |  | (350) |
Intersegment revenues, as restated | $ | 432 |  | $ | 562 |  |  | $ | 858 |  | $ | 1,092 |
Segment operating profit, as originally reported | $ | 459 |  | $ | 1,054 |  |  | $ | 1,323 |  | $ | 2,264 |
Intersegment pricing adjustments | — |  | — |  |  | — |  | 1 |
Segment operating profit, as restated | $ | 459 |  | $ | 1,054 |  |  | $ | 1,323 |  | $ | 2,265 |
Impact of the Restatement on the Carbohydrate Solutions Segment
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
(In millions) | 2024 (Restated) | 2023 (Restated) |  | 2024 (Restated) | 2023 (Restated)
Intersegment revenues, as originally reported | $ | 239 |  | $ | 448 |  |  | $ | 518 |  | $ | 1,177 |
Intersegment pricing adjustments | — |  | 16 |  |  | — |  | 22 |
Intersegment classification adjustments | — |  | (60) |  |  | — |  | (290) |
Intersegment revenues, as previously reported | 239 |  | 404 |  |  | 518 |  | 909 |
Additional intersegment classification adjustments | (14) |  | (180) |  |  | (84) |  | (415) |
Intersegment revenues, as restated | $ | 225 |  | $ | 224 |  |  | $ | 434 |  | $ | 494 |
Segment operating profit, as originally reported | $ | 357 |  | $ | 303 |  |  | $ | 605 |  | $ | 576 |
Intersegment pricing adjustments | — |  | 16 |  |  | — |  | 22 |
Segment operating profit, as restated | $ | 357 |  | $ | 319 |  |  | $ | 605 |  | $ | 598 |
Impact of the Restatement on the Nutrition Segment
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
(In millions) | 2024 (Restated) | 2023 (Restated) |  | 2024 (Restated) | 2023 (Restated)
Intersegment revenues, as originally reported | $ | 13 |  | $ | 73 |  |  | $ | 19 |  | $ | 164 |
Intersegment pricing adjustments | — |  | — |  |  | — |  | — |
Intersegment classification adjustments | — |  | (39) |  |  | — |  | (94) |
Intersegment revenues, as previously reported | 13 |  | 34 |  |  | 19 |  | 70 |
Additional intersegment classification adjustments | 5 |  | (22) |  |  | 12 |  | (46) |
Intersegment revenues, as restated | $ | 18 |  | $ | 12 |  |  | $ | 31 |  | $ | 24 |
Segment operating profit, as originally reported | $ | 109 |  | $ | 185 |  |  | $ | 193 |  | $ | 330 |
Intersegment pricing adjustments | — |  | (16) |  |  | — |  | (23) |
Segment operating profit, as restated | $ | 109 |  | $ | 169 |  |  | $ | 193 |  | $ | 307 |
For more information about the Company’s business 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 Six Months ended June 30, 2024 and 2023
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
(In millions) | 2024 |  | 2023 |  | 2024 |  | 2023
Revenues from external customers |  |  |  |  |  |  |
Ag Services and Oilseeds |  |  |  |  |  |  |
Ag Services | $ | 11,746 |  |  | $ | 13,366 |  |  | $ | 22,943 |  |  | $ | 25,061 |
Crushing | 2,850 |  |  | 3,480 |  |  | 6,177 |  |  | 7,163 |
Refined Products and Other | 2,737 |  |  | 2,998 |  |  | 5,432 |  |  | 6,199 |
Total Ag Services and Oilseeds | 17,333 |  |  | 19,844 |  |  | 34,552 |  |  | 38,423 |
Carbohydrate Solutions |  |  |  |  |  |  |
Starches and Sweeteners | 2,211 |  |  | 2,475 |  |  | 4,367 |  |  | 5,212 |
Vantage Corn Processors | 683 |  |  | 906 |  |  | 1,210 |  |  | 1,706 |
Total Carbohydrate Solutions | 2,894 |  |  | 3,381 |  |  | 5,577 |  |  | 6,918 |
Nutrition |  |  |  |  |  |  |
Human Nutrition | 1,061 |  |  | 966 |  |  | 2,025 |  |  | 1,902 |
Animal Nutrition | 847 |  |  | 887 |  |  | 1,719 |  |  | 1,804 |
Total Nutrition | 1,908 |  |  | 1,853 |  |  | 3,744 |  |  | 3,706 |
Total segment revenues from external customers | 22,135 |  |  | 25,078 |  |  | 43,873 |  |  | 49,047 |
Other Business | 113 |  |  | 112 |  |  | 222 |  |  | 215 |
Total revenues from external customers | $ | 22,248 |  |  | $ | 25,190 |  |  | $ | 44,095 |  |  | $ | 49,262 |
Intersegment revenues, as restated |  |  |  |  |  |  |
Ag Services and Oilseeds | $ | 432 |  |  | $ | 562 |  |  | $ | 858 |  |  | $ | 1,092 |
Carbohydrate Solutions | 225 |  |  | 224 |  |  | 434 |  |  | 494 |
Nutrition | 18 |  |  | 12 |  |  | 31 |  |  | 24 |
Total intersegment revenues, as restated | $ | 675 |  |  | $ | 798 |  |  | $ | 1,323 |  |  | $ | 1,610 |
Segment operating profit, as restated |  |  |  |  |  |  |
Ag Services and Oilseeds | $ | 459 |  |  | $ | 1,054 |  |  | $ | 1,323 |  |  | $ | 2,265 |
Carbohydrate Solutions | 357 |  |  | 319 |  |  | 605 |  |  | 598 |
Nutrition | 109 |  |  | 169 |  |  | 193 |  |  | 307 |
Total segment operating profit, as restated | 925 |  |  | 1,542 |  |  | 2,121 |  |  | 3,170 |
Other Business earnings (loss) | 96 |  |  | 86 |  |  | 217 |  |  | 183 |
Corporate | (418) |  |  | (393) |  |  | (844) |  |  | (715) |
Specified items: |  |  |  |  |  |  |
Gains on sale of assets(1) | — |  |  | 11 |  |  | — |  |  | 12 |
Impairment and restructuring charges(2) | (7) |  |  | (114) |  |  | (13) |  |  | (121) |
Earnings before income taxes | $ | 596 |  |  | $ | 1,132 |  |  | $ | 1,481 |  |  | $ | 2,529 |
(1) Prior year period gains were related to the sale of certain assets. (2) Current and prior year period charges were related to the impairment of certain long-lived assets and restructuring.

X
- 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
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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