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v3.25.2

Revenues | 6 Months Ended
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Jun. 30, 2025
Revenues [Abstract] |
Revenues | Revenues The following tables present revenue disaggregated by timing of recognition and major product lines for the three and six months ended June 30, 2025 and 2024 (in millions).
| Three Months Ended June 30, 2025
| Topic 606 Revenue | Topic 815 | Total
| Point in Time | Over Time | Total | Revenue (1) | Revenues
Ag Services and Oilseeds |  |  |  |  |
Ag Services | $ | 819 |  | $ | 205 |  | $ | 1,024 |  | $ | 9,872 |  | $ | 10,896 |
Crushing | 86 |  | — |  | 86 |  | 2,543 |  | 2,629 |
Refined Products and Other | 895 |  | — |  | 895 |  | 1,849 |  | 2,744 |
Total Ag Services and Oilseeds | 1,800 |  | 205 |  | 2,005 |  | 14,264 |  | 16,269 |
Carbohydrate Solutions |  |  |  |  |
Starches and Sweeteners | 1,539 |  | — |  | 1,539 |  | 561 |  | 2,100 |
Vantage Corn Processors | 692 |  | — |  | 692 |  | — |  | 692 |
Total Carbohydrate Solutions | 2,231 |  | — |  | 2,231 |  | 561 |  | 2,792 |
Nutrition |  |  |  |  |
Human Nutrition | 1,161 |  | — |  | 1,161 |  | — |  | 1,161 |
Animal Nutrition | 832 |  | — |  | 832 |  | — |  | 832 |
Total Nutrition | 1,993 |  | — |  | 1,993 |  | — |  | 1,993 |
Total Segment Revenues | 6,024 |  | 205 |  | 6,229 |  | 14,825 |  | 21,054 |
Other Business | 112 |  | — |  | 112 |  | — |  | 112 |
Total Revenues | $ | 6,136 |  | $ | 205 |  | $ | 6,341 |  | $ | 14,825 |  | $ | 21,166 |
| Six Months Ended June 30, 2025
| Topic 606 Revenue | Topic 815 | Total
| Point in Time | Over Time | Total | Revenue (1) | Revenues
Ag Services and Oilseeds |  |  |  |  |
Ag Services | $ | 1,860 |  | $ | 412 |  | $ | 2,272 |  | $ | 19,160 |  | $ | 21,432 |
Crushing | 185 |  | — |  | 185 |  | 5,082 |  | 5,267 |
Refined Products and Other | 1,747 |  | — |  | 1,747 |  | 3,498 |  | 5,245 |
Total Ag Services and Oilseeds | 3,792 |  | 412 |  | 4,204 |  | 27,740 |  | 31,944 |
Carbohydrate Solutions |  |  |  |  |
Starches and Sweeteners | 2,923 |  | — |  | 2,923 |  | 1,114 |  | 4,037 |
Vantage Corn Processors | 1,325 |  | — |  | 1,325 |  | — |  | 1,325 |
Total Carbohydrate Solutions | 4,248 |  | — |  | 4,248 |  | 1,114 |  | 5,362 |
Nutrition |  |  |  |  |
Human Nutrition | 2,159 |  | — |  | 2,159 |  | — |  | 2,159 |
Animal Nutrition | 1,651 |  | — |  | 1,651 |  | — |  | 1,651 |
Total Nutrition | 3,810 |  | — |  | 3,810 |  | — |  | 3,810 |
Total Segment Revenues | 11,850 |  | 412 |  | 12,262 |  | 28,854 |  | 41,116 |
Other Business | 225 |  | — |  | 225 |  | — |  | 225 |
Total Revenues | $ | 12,075 |  | $ | 412 |  | $ | 12,487 |  | $ | 28,854 |  | $ | 41,341 |
| Three Months Ended June 30, 2024
| Topic 606 Revenue | Topic 815 | Total
| Point in Time | Over Time | Total | Revenue (1) | Revenues
Ag Services and Oilseeds |  |  |  |  |
Ag Services | $ | 925 |  | $ | 252 |  | $ | 1,177 |  | $ | 10,569 |  | $ | 11,746 |
Crushing | 104 |  | — |  | 104 |  | 2,746 |  | 2,850 |
Refined Products and Other | 523 |  | — |  | 523 |  | 2,214 |  | 2,737 |
Total Ag Services and Oilseeds | 1,552 |  | 252 |  | 1,804 |  | 15,529 |  | 17,333 |
Carbohydrate Solutions |  |  |  |  |
Starches and Sweeteners | 1,654 |  | — |  | 1,654 |  | 557 |  | 2,211 |
Vantage Corn Processors | 683 |  | — |  | 683 |  | — |  | 683 |
Total Carbohydrate Solutions | 2,337 |  | — |  | 2,337 |  | 557 |  | 2,894 |
Nutrition |  |  |  |  |
Human Nutrition | 1,061 |  | — |  | 1,061 |  | — |  | 1,061 |
Animal Nutrition | 847 |  | — |  | 847 |  | — |  | 847 |
Total Nutrition | 1,908 |  | — |  | 1,908 |  | — |  | 1,908 |
Total Segment Revenues | 5,797 |  | 252 |  | 6,049 |  | 16,086 |  | 22,135 |
Other Business | 113 |  | — |  | 113 |  | — |  | 113 |
Total Revenues | $ | 5,910 |  | $ | 252 |  | $ | 6,162 |  | $ | 16,086 |  | $ | 22,248 |
| Six Months Ended June 30, 2024
| Topic 606 Revenue | Topic 815 | Total
| Point in Time | Over Time | Total | Revenue (1) | Revenues
Ag Services and Oilseeds |  |  |  |  |
Ag Services | $ | 1,947 |  | $ | 445 |  | $ | 2,392 |  | $ | 20,551 |  | $ | 22,943 |
Crushing | 220 |  | — |  | 220 |  | 5,957 |  | 6,177 |
Refined Products and Other | 1,070 |  | — |  | 1,070 |  | 4,362 |  | 5,432 |
Total Ag Services and Oilseeds | 3,237 |  | 445 |  | 3,682 |  | 30,870 |  | 34,552 |
Carbohydrate Solutions |  |  |  |  |
Starches and Sweeteners | 3,247 |  | — |  | 3,247 |  | 1,120 |  | 4,367 |
Vantage Corn Processors | 1,210 |  | — |  | 1,210 |  | — |  | 1,210 |
Total Carbohydrate Solutions | 4,457 |  | — |  | 4,457 |  | 1,120 |  | 5,577 |
Nutrition |  |  |  |  |
Human Nutrition | 2,025 |  | — |  | 2,025 |  | — |  | 2,025 |
Animal Nutrition | 1,719 |  | — |  | 1,719 |  | — |  | 1,719 |
Total Nutrition | 3,744 |  | — |  | 3,744 |  | — |  | 3,744 |
Total Segment Revenues | 11,438 |  | 445 |  | 11,883 |  | 31,990 |  | 43,873 |
Other Business | 222 |  | — |  | 222 |  | — |  | 222 |
Total Revenues | $ | 11,660 |  | $ | 445 |  | $ | 12,105 |  | $ | 31,990 |  | $ | 44,095 |
(1) Topic 815 revenue relates to the physical delivery or the settlement of the Company’s sales contracts that are accounted for as derivatives and are outside the scope of Topic 606. Ag Services and Oilseeds The Ag Services and Oilseeds segment generates revenue from the sale of commodities, from service fees for the transportation of goods, from the sale of products manufactured in its global processing facilities, and from its structured trade finance activities. The Company engages in various structured trade finance activities to leverage its global trade flows whereby the Company obtains letters of credit (LCs) to guarantee payments on both global purchases and sales of grain. LCs guaranteeing payment on grain sales are sold on a non-recourse basis with no continuing involvement. The Company earns returns from the difference in interest rates between the LCs that guarantee payment on the underlying purchases and sales of grain given the differing risk profiles of the underlying transactions. Carbohydrate Solutions The Carbohydrate Solutions segment generates revenue from the sale of products manufactured at the Company’s global corn and wheat milling facilities around the world. Revenue is recognized when control over products is transferred to the customer. Products are shipped to customers from the Company’s various facilities and from its network of storage terminals. The amount of revenue recognized is based on the consideration specified in the contract which could include freight and other costs depending on the specific shipping terms of each contract. Nutrition The Nutrition segment sells ingredients and solutions including plant-based proteins, natural flavors, flavor systems, natural colors, emulsifiers, soluble fiber, polyols, hydrocolloids, probiotics, prebiotics, postbiotics, enzymes, botanical extracts, edible beans, formula feeds, animal health and nutrition products, pet food and treats, and other specialty food and feed ingredients. Revenue is recognized when control over products is transferred to the customer. The amount of revenue recognized follows the contracted price or the mutually agreed price of the product. Other Business Other Business includes the Company’s futures commission business whose primary sources of revenue are commissions and brokerage income generated from executing orders and clearing futures contracts and options on futures contracts on behalf of its customers. Commissions and brokerage revenue are recognized on the date the transaction is executed. Other Business also includes the Company’s captive insurance business, which provides captive insurance services to the Company's reportable segments.

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