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Segment and Geographic Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Information | The following tables present data by segment (in millions).
|  | Year Ended December 31, 2024
|  | Ag Services and Oilseeds |  | Carbohydrate Solutions |  | Nutrition |  | Total
Revenue from external customers |  | $ | 66,516 |  |  | $ | 11,234 |  |  | $ | 7,349 |  |  | $ | 85,099 |
Other Business |  |  |  |  |  |  |  | 431 |
Total revenues |  |  |  |  |  |  |  | $ | 85,530 |
Less: |  |  |  |  |  |  |  |
Cost of materials |  | 60,378 |  |  | 7,170 |  |  | 4,651 |  |  |
Manufacturing costs |  | 3,436 |  |  | 2,592 |  |  | 1,249 |  |  |
Selling, general, and administrative expenses |  | 919 |  |  | 326 |  |  | 1,166 |  |  |
Other segment items (1) |  | (664) |  |  | (230) |  |  | (103) |  |  |
Segment operating profit |  | $ | 2,447 |  |  | $ | 1,376 |  |  | $ | 386 |  |  | $ | 4,209 |
Reconciliation of segment operating profit |  |  |  |  |  |  |  |
Other Business |  |  |  |  |  |  |  | 247 |
Corporate |  |  |  |  |  |  |  | (1,721) |
Specified items: |  |  |  |  |  |  |  |
Gains on sales of assets and businesses |  |  |  |  |  |  |  | 10 |
Asset impairment, restructuring, and net settlement contingencies (2) |  |  |  |  |  |  |  | (490) |
Earnings before income taxes |  |  |  |  |  |  |  | $ | 2,255 |
(1) Other segment items for each reportable segment include: Ag Services and Oilseeds: Equity in the earnings of affiliates; interest and investment income, interest expense; and other income/expense. Carbohydrate Solutions: Equity in the earnings of affiliates and other income/expense. Nutrition: Equity in the earnings of affiliates; asset impairment, exit, and restructuring charges; and other income/expense. (2) These charges primarily include a $461 million impairment charge related to the Company's investment in Wilmar, within the Ag Services and Oilseeds segment, and a $43 million impairment charge related to the discontinued animal nutrition trademarks, within the Nutrition segment, partially offset by reversals of certain contingency liabilities in the Ag Services and Oilseeds segment.
|  | Year Ended December 31, 2023
|  | Ag Services and Oilseeds |  | Carbohydrate Solutions |  | Nutrition |  | Total
Revenue from external customers |  | $ | 73,426 |  |  | $ | 12,874 |  |  | $ | 7,211 |  |  | $ | 93,511 |
Other Business |  |  |  |  |  |  |  | 424 |
Total revenues |  |  |  |  |  |  |  | $ | 93,935 |
Less: |  |  |  |  |  |  |  |
Cost of materials |  | 65,751 |  |  | 8,729 |  |  | 4,608 |  |  |
Manufacturing costs |  | 3,338 |  |  | 2,550 |  |  | 1,136 |  |  |
Selling, general, and administrative expenses |  | 880 |  |  | 323 |  |  | 1,034 |  |  |
Other segment items(1) |  | (610) |  |  | (103) |  |  | 6 |  |  |
Segment operating profit |  | $ | 4,067 |  |  | $ | 1,375 |  |  | $ | 427 |  |  | $ | 5,869 |
Reconciliation of segment operating profit |  |  |  |  |  |  |  |
Other Business |  |  |  |  |  |  |  | 375 |
Corporate |  |  |  |  |  |  |  | (1,606) |
Specified items: |  |  |  |  |  |  |  |
Gains on sales of assets and businesses |  |  |  |  |  |  |  | 17 |
Asset impairment, restructuring, and net settlement contingencies (2) |  |  |  |  |  |  |  | (361) |
Earnings before income taxes |  |  |  |  |  |  |  | $ | 4,294 |
(1) Other segment items for each reportable segment include: Ag Services and Oilseeds: Equity in the earnings of affiliates; interest and investment income; and other income/expense. Carbohydrate Solutions: Equity in the earnings of affiliates and other income/expense. Nutrition: Equity in the earnings of affiliates; interest and investment income; and other income/expense. (2) These charges were related to the impairment of certain long-lived assets, goodwill, intangibles, and an equity investment, restructuring, and a contingency related to import duties, partially offset by settlement/contingency adjustments.
|  | Year Ended December 31, 2022
|  | Ag Services and Oilseeds |  | Carbohydrate Solutions |  | Nutrition |  | Total
Revenue from external customers |  | $ | 79,563 |  |  | $ | 13,961 |  |  | $ | 7,636 |  |  | $ | 101,160 |
Other Business |  |  |  |  |  |  |  | 396 |
Total revenues |  |  |  |  |  |  |  | $ | 101,556 |
Less: |  |  |  |  |  |  |  |
Cost of materials |  | 72,464 |  |  | 9,867 |  |  | 4,900 |  |  |
Manufacturing costs |  | 3,135 |  |  | 2,522 |  |  | 1,075 |  |  |
Selling, general, and administrative expenses |  | 839 |  |  | 338 |  |  | 1,040 |  |  |
Other segment items(1) |  | (1,276) |  |  | (179) |  |  | (47) |  |  |
Segment operating profit |  | $ | 4,401 |  |  | $ | 1,413 |  |  | $ | 668 |  |  | $ | 6,482 |
Reconciliation of segment operating profit |  |  |  |  |  |  |  |
Other Business |  |  |  |  |  |  |  | 167 |
Corporate |  |  |  |  |  |  |  | (1,316) |
Specified items: |  |  |  |  |  |  |  |
Gains on sales of assets and businesses |  |  |  |  |  |  |  | 47 |
Asset impairment, restructuring, and net settlement contingencies |  |  |  |  |  |  |  | (147) |
Earnings before income taxes |  |  |  |  |  |  |  | $ | 5,233 |
(1) Other segment items for each reportable segment include: Ag Services and Oilseeds: Equity in the earnings of affiliates; interest and investment income; and other income/expense. Carbohydrate Solutions: Equity in the earnings of affiliates and other income/expense. Nutrition: Equity in the earnings of affiliates and other income/expense.
(In millions) | Year Ended December 31
| 2024 |  | 2023 |  | 2022
Intersegment revenue |  |  |  |  |
Ag Services and Oilseeds | $ | 1,716 |  |  | $ | 2,108 |  |  | $ | 2,045 |
Carbohydrate Solutions | 889 |  |  | 918 |  |  | 968 |
Nutrition | 68 |  |  | 48 |  |  | 62 |
Total intersegment revenue | $ | 2,673 |  |  | $ | 3,074 |  |  | $ | 3,075 |
Depreciation expense |  |  |  |  |
Ag Services and Oilseeds | $ | 376 |  |  | $ | 350 |  |  | $ | 334 |
Carbohydrate Solutions | 305 |  |  | 304 |  |  | 307 |
Nutrition | 151 |  |  | 132 |  |  | 120 |
Total segment depreciation expense | 832 |  |  | 786 |  |  | 761 |
Other Business | 9 |  |  | 10 |  |  | 9 |
Corporate | 34 |  |  | 29 |  |  | 24 |
Total depreciation expense | $ | 875 |  |  | $ | 825 |  |  | $ | 794 |
Amortization expense |  |  |  |  |
Ag Services and Oilseeds | $ | 14 |  |  | $ | 17 |  |  | $ | 17 |
Carbohydrate Solutions | 6 |  |  | 8 |  |  | 9 |
Nutrition | 158 |  |  | 136 |  |  | 139 |
Total segment amortization expense | 178 |  |  | 161 |  |  | 165 |
Corporate | 88 |  |  | 73 |  |  | 69 |
Total amortization expense | $ | 266 |  |  | $ | 234 |  |  | $ | 234 |
Interest and investment income |  |  |  |  |
Ag Services and Oilseeds | $ | 84 |  |  | $ | 54 |  |  | $ | 52 |
Nutrition | — |  |  | (18) |  |  | 2 |
Total segment interest and investment income | 84 |  |  | 36 |  |  | 54 |
Other Business | 463 |  |  | 499 |  |  | 185 |
Corporate | 15 |  |  | (36) |  |  | 54 |
Total interest and investment income | $ | 562 |  |  | $ | 499 |  |  | $ | 293 |
Equity in earnings of unconsolidated affiliates |  |  |  |  |
Ag Services and Oilseeds | $ | 474 |  |  | $ | 459 |  |  | $ | 714 |
Carbohydrate Solutions | 127 |  |  | 76 |  |  | 94 |
Nutrition | 29 |  |  | 21 |  |  | 23 |
Total segment equity in earnings of unconsolidated affiliates | 630 |  |  | 556 |  |  | 831 |
Corporate | (9) |  |  | (5) |  |  | 1 |
Total equity in earnings of affiliates | $ | 621 |  |  | $ | 551 |  |  | $ | 832 |
Geographic Information | The following geographic data include revenues from external customers attributed to the countries based on the location of the subsidiary making the sale (in millions).
| Year Ended
| December 31
| 2024 |  | 2023 |  | 2022
Revenues |  |  |  |  |
United States | $ | 33,550 |  |  | $ | 38,783 |  |  | $ | 43,272 |
Switzerland | 19,877 |  |  | 19,898 |  |  | 21,821 |
Cayman Islands | 5,603 |  |  | 7,646 |  |  | 5,883 |
Brazil | 3,353 |  |  | 3,361 |  |  | 4,004 |
Mexico | 3,209 |  |  | 3,185 |  |  | 3,709 |
Canada | 2,055 |  |  | 2,400 |  |  | 2,272 |
United Kingdom | 2,186 |  |  | 2,219 |  |  | 2,231 |
Other Foreign | 15,697 |  |  | 16,443 |  |  | 18,364 |
| $ | 85,530 |  |  | $ | 93,935 |  |  | $ | 101,556 |
Long-lived assets represent the net book value of property, plant, and equipment and right-of-use (ROU) assets based on physical location (in millions).
| December 31
| 2024 |  | 2023
Property, plant, and equipment, net |  |  |
United States | $ | 6,965 |  |  | $ | 6,660 |
Brazil | 872 |  |  | 874 |
Other Foreign | 3,000 |  |  | 2,974 |
Total property, plant, and equipment, net | $ | 10,837 |  |  | $ | 10,508 |
ROU assets |  |  |
United States | $ | 1,063 |  |  | $ | 913 |
Other Foreign | 295 |  |  | 298 |
Total ROU assets | $ | 1,358 |  |  | $ | 1,211 |
Total long-lived assets | $ | 12,195 |  |  | $ | 11,719 |

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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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