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Accounts and Notes Receivable, Net (Tables) | 12 Months Ended
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Dec. 31, 2020
Receivables [Abstract] |
Schedule of Accounts and Notes Receivable |
(In millions) | December 31, 2020 | December 31, 2019
Accounts receivable – trade 1 | $ | 3,754 |  | $ | 4,225 |
Notes receivable – trade 1,2 | 163 |  | 171 |
Other 3 | 1,009 |  | 1,132 |
Total accounts and notes receivable - net | $ | 4,926 |  | $ | 5,528 |
1.Accounts receivable – trade and notes receivable - trade are net of allowances of $208 million at December 31, 2020 and $174 million at December 31, 2019. Allowances are equal to the estimated uncollectible amounts. The allowance at December 31, 2020 is equal to the expected credit losses and was developed using a loss-rate method. The allowance at December 31, 2019 is equal to the estimated uncollectible amounts and is based on historical collection experience, current economic and market conditions, and review of the current status of customers' accounts. 2.Notes receivable – trade primarily consists of receivables for deferred payment loan programs for the sale of seed products to customers. These loans have terms of one year or less and are primarily concentrated in North America. The company maintains a rigid pre-approval process for extending credit to customers in order to manage overall risk and exposure associated with credit losses. As of December 31, 2020 and 2019, there were no significant impairments related to current loan agreements. 3.Other includes receivables in relation to indemnification assets, value added tax, general sales tax and other taxes. No individual group represents more than 10 percent of total receivables. In addition, Other includes amounts due from nonconsolidated affiliates of $106 million and $119 million as of December 31, 2020 and 2019, respectively.
Accounts Receivable, Allowance for Credit Loss |
(In millions)
Balance at December 31, 2019 | $ | 174 |
Additions charged to expense | 154 |
Write-offs charged against allowance | (8) |
Recoveries collected | (101) |
Other | (11) |
Balance at December 31, 2020 | $ | 208 |

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- Definition Tabular disclosure of allowance for credit loss on accounts receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919249-210447 + Details
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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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