Cover Page - USD ($) $ in Billions	12 Months Ended
Cover Page - USD ($) $ in Billions	Dec. 31, 2020	Feb. 17, 2021	Jun. 30, 2020
Class of Stock [Line Items]
Document Period End Date	Dec. 31, 2020
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Entity File Number	1-44
Entity Registrant Name	ARCHER-DANIELS-MIDLAND CO
City Area Code	312
Local Phone Number	634-8100
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	41-0129150
Entity Address, Address Line One	77 West Wacker Drive, Suite 4600
Entity Address, City or Town	Chicago,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60601
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 22.0
Entity Common Stock, Shares Outstanding		558,414,074
Documents Incorporated by Reference	Portions of the Registrant’s definitive proxy statement relating to its 2021 annual meeting of stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. Such proxy statement will be filed with the U.S. Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates.
Entity Central Index Key	0000007084
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Common Stock [Member]
Class of Stock [Line Items]
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	ADM
Security Exchange Name	NYSE
Debt Securities [Member]
Class of Stock [Line Items]
Title of 12(b) Security	1.000% Notes due 2025
No Trading Symbol Flag	true
Security Exchange Name	NYSE

Consolidated Statements Of Earnings - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Revenues	$ 64,355	$ 64,656	$ 64,341
Cost of products sold	59,902	60,509	60,160
Gross Profit	4,453	4,147	4,181
Selling, general and administrative expenses	2,687	2,493	2,165
Asset impairment, exit, and restructuring costs	80	303	171
Interest expense	339	402	364
Equity in earnings of unconsolidated affiliates	(579)	(454)	(518)
(Gain) Loss on Extinguishment of Debt	409	0	0
Interest income	(88)	(192)	(162)
Other Nonoperating Income (Expense)	(278)	7	101
Earnings Before Income Taxes	1,883	1,588	2,060
Income tax expense	101	209	245
Net Earnings Including Noncontrolling Interests	1,782	1,379	1,815
Less: Net earnings (losses) attributable to noncontrolling interests	10	0	5
Net Earnings Attributable to Controlling Interests	$ 1,772	$ 1,379	$ 1,810
Average number of shares outstanding - basic	561	563	564
Average number of shares outstanding - diluted	563	565	567
Basic earnings per common share (dollars per share)	$ 3.16	$ 2.45	$ 3.21
Diluted earnings per common share (dollars per share)	$ 3.15	$ 2.44	$ 3.19

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net earnings including noncontrolling interests	$ 1,782	$ 1,379	$ 1,815
Other Comprehensive Income (Loss), Before tax
Foreign currency translation adjustment, before tax	(362)	(176)	(581)
Pension and other postretirement benefit liabilities adjustment, before tax	(113)	(98)	156
Deferred gain (loss) on hedging avtivities, before tax	254	(91)	57
Unrealized gain (loss) on investments, before tax	(27)	13	(4)
Other Comprehensive Income (Loss), Tax
Foreign currency translation adjustment, tax effect	97	(12)	(28)
Pension and other postretirement benefit liabilities adjustment, tax effect	16	50	(55)
Deferred gain (loss) on hedging activities, tax effect	(57)	18	(13)
Unrealized gain (loss) on investments, tax effect	0	(1)	(1)
Other Comprehensive Income (Loss), Net of Tax
Foreign currency translation adjustment, net of tax	(265)	(188)	(609)
Pension and other postretirement benefit liabilities adjustment, net of tax	(97)	(48)	101
Deferred gain (loss) on hedging activities, net of tax	197	(73)	44
Unrealized gain (loss) on investments, net of tax	(27)	12	(5)
Other comprehensive income (loss)	(192)	(297)	(469)
Comprehensive income (loss)	1,590	1,082	1,346
Less: Comprehensive income (loss) attributable to noncontrolling interests	17	2	5
Comprehensive income (loss) attributable to controlling interests	$ 1,573	$ 1,080	$ 1,341

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Current Assets
Cash and cash equivalents	$ 666	$ 852
Cash and Securities Segregated under Federal and Other Regulations	5,890	4,458
Trade receivables - net	2,793	2,267
Inventories	11,713	9,170
Other current assets	6,224	4,600
Total Current Assets	27,286	21,347
Investments and Other Assets
Investments in and advances to affiliates	4,913	5,132
Goodwill and other intangible assets	5,413	5,476
Operating Lease, Right-of-Use Asset	1,102	971
Other assets	1,054	965
Total Investments and Other Assets	12,482	12,544
Property, Plant, and Equipment
Land and Land Improvements	545	592
Buildings	5,522	5,381
Machinery and equipment	19,154	19,005
Construction in progress	1,118	1,021
Gross Property, Plant, and Equipment	26,339	25,999
Accumulated depreciation	(16,388)	(15,893)
Net Property, Plant, and Equipment	9,951	10,106
Total Assets	49,719	43,997
Current Liabilities
Short-term debt	2,042	1,202
Trade payables	4,474	3,746
Payables to brokerage customers	6,460	5,022
Operating Lease, Liability, Current	261	215
Accrued expenses and other payables	4,943	3,542
Current maturities of long-term debt	2	7
Total Current Liabilities	18,182	13,734
Long-Term Liabilities
Long-term debt	7,885	7,672
Deferred income taxes	1,302	1,194
Operating Lease, Liability, Noncurrent	863	781
Other	1,391	1,333
Total Long-Term Liabilities	11,441	10,980
Redeemable Noncontrolling Interest, Equity, Carrying Amount	74	58
Shareholders’ Equity
Common stock	2,824	2,655
Reinvested earnings	19,780	18,958
Accumulated other comprehensive income (loss)	(2,604)	(2,405)
Noncontrolling interests	22	17
Total Shareholders’ Equity	20,022	19,225
Total Liabilities, Temporary Equity, and Shareholders’ Equity	$ 49,719	$ 43,997

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Cash Flows [Abstract]
Interest Paid, Excluding Capitalized Interest, Operating Activities	$ 345	$ 388	$ 351
Operating Activities
Net earnings including noncontrolling interests	1,782	1,379	1,815
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities
Depreciation and amortization	976	993	941
Asset impairment charges	54	142	142
Deferred income taxes	75	21	(47)
Equity in earnings of affiliates, net of dividends	(298)	(213)	(247)
Stock compensation expense	151	89	109
Deferred Cash Flow Hedges	254	(91)	57
(Gain) Loss on Extinguishment of Debt	409	0	0
(Gain) loss on sale and revaluation of assets	(161)	39	(43)
Other – net	(113)	(73)	(55)
Changes in operating assets and liabilities, net of acquisitions and dispositions
Segregated investments	(408)	(278)	(1,176)
Trade receivables	(149)	287	(376)
Inventories	(2,426)	(21)	226
Increase (Decrease) in Accounts Receivable from Securitization	(4,603)	(7,681)	(7,838)
Other current assets	(2,126)	(1,449)	(70)
Trade payables	694	(64)	(300)
Payables to brokerage customers	1,400	347	(309)
Accrued expenses and other payables	1,287	565	35
Total Operating Activities	(2,386)	(5,452)	(4,784)
Investing Activities
Purchases of property, plant, and equipment	(823)	(828)	(842)
Net assets of businesses acquired	(15)	(1,946)	(464)
Proceeds from sales of assets and businesses	728	293	191
Payments to Acquire Equity Method Investments	(5)	(13)	(157)
Payments to Acquire Retained Interest in Securitized Receivables	(2,121)	(5,398)	(6,957)
Proceeds from Collection of Retained Interest in Securitized Receivables	6,724	13,079	14,795
Purchases of marketable securities	2	27	0
Proceeds from sales of marketable securities	6	104	13
Other – net	(27)	(5)	3
Total Investing Activities	4,465	5,259	6,582
Financing Activities
Long-term debt borrowings	1,791	8	1,762
Long-term debt payments	(2,136)	(626)	(30)
Net borrowings (payments) under lines of credit agreements	837	919	(743)
Share repurchases	(133)	(150)	(77)
Cash dividends	(809)	(789)	(758)
Other – net	27	(22)	33
Total Financing Activities	(423)	(660)	187
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	1,656	(853)	1,985
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Start	2,990	3,843	1,858
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period End	4,646	2,990	3,843
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents to consolidated balance sheets [Abstract]
Cash and cash equivalents	666	852	1,997
Restricted cash and cash equivalents included in segregated cash and investments	3,980	2,138	1,846
Cash paid for interest and income taxes were as follows:
Income taxes	195	268	376
Noncash or Part Noncash Acquisition, Investments Acquired	$ 4,656	$ 7,751	$ 7,897

Consolidated Statements Of Shareholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjusted Balance	Previously Reported	Common Stock [Member]	Reinvested Earnings [Member]	Reinvested Earnings [Member] Cumulative Effect, Period of Adoption, Adjusted Balance	Reinvested Earnings [Member] Previously Reported	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interest [Member]
Balance at Dec. 31, 2017	$ 18,322			$ 2,398	$ 17,552			$ (1,637)	$ 9
Balance, shares at Dec. 31, 2017				557
Comprehensive income
Net earnings	1,815				1,810				5
Other comprehensive income (loss)	(469)							(469)
Total comprehensive income	$ 1,346
Common Stock, Dividends, Per Share, Cash Paid	$ 1.34
Cash dividends paid	$ (758)				(758)
Treasury stock purchases, shares				(2)
Treasury stock purchases	(77)				(77)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture				2
Stock compensation expense	109			$ 109
Other	54			$ 53					1
Other, shares				2
Balance at Dec. 31, 2018	18,996			$ 2,560	18,527			(2,106)	15
Balance, shares at Dec. 31, 2018				559
Comprehensive income
Net earnings	1,379				1,379
Other comprehensive income (loss)	(297)							(299)	2
Total comprehensive income	$ 1,082
Common Stock, Dividends, Per Share, Cash Paid	$ 1.40
Cash dividends paid	$ (789)				(789)
Stock Repurchased During Period, Shares				(4)
Stock Repurchased During Period, Value	(150)				(150)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture				2
Stock compensation expense	89			$ 89
Other	(3)			$ 6	(9)
Other, shares
Balance at Dec. 31, 2019	19,225	$ 19,217	$ 19,225	$ 2,655		$ 18,950	$ 18,958	(2,405)	17
Balance (Accounting Standards Update 2019-05) at Dec. 31, 2019	(8)				(8)
Balance, shares at Dec. 31, 2019				557
Comprehensive income
Net earnings	1,782				1,772				10
Other comprehensive income (loss)	(192)							(199)	7
Total comprehensive income	$ 1,590
Common Stock, Dividends, Per Share, Cash Paid	$ 1.44
Cash dividends paid	$ (809)				(809)
Stock Repurchased During Period, Shares				(4)
Stock Repurchased During Period, Value	(133)				(133)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture				2
Stock compensation expense	151			$ 151
Other	6			$ 18					(12)
Other, shares				1
Balance at Dec. 31, 2020	$ 20,022			$ 2,824	$ 19,780			$ (2,604)	$ 22
Balance, shares at Dec. 31, 2020				556

Consolidated Statements Of Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Stockholders' Equity [Abstract]
Cash dividends paid (dollars per share)	$ 1.44	$ 1.40	$ 1.34

Summary Of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Summary Of Significant Accounting Policies

Summary of Significant Accounting Policies

Nature of Business

ADM unlocks the power of nature to provide access to nutrition worldwide. The Company is a global leader in human and animal nutrition and the world’s premier agricultural origination and processing company. ADM’s breadth, depth, insights, facilities and logistical expertise give the Company unparalleled capabilities to meet needs for food, beverages, health and wellness, and more. From the seed of the idea to the outcome of the solution, ADM enriches the quality of life the world over.

The Company transforms natural products into staple foods, sustainable, renewable industrial products, and an expansive pantry of food and beverage ingredients and solutions for foods and beverages, supplements, nutrition for pets and livestock and more. And with an array of unparalleled capabilities across every part of the global food chain, ADM gives its customers an edge in solving global challenges of today and tomorrow. At ADM, sustainable practices and a focus on environmental responsibility are not separate from its primary business: they are integral to the work the Company does every day to serve customers and create value for shareholders. The Company is one of the world’s leading producers of ingredients for human and animal nutrition, and other products made from nature.

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated. The Company consolidates all entities, including variable interest entities (VIEs), in which it has a controlling financial interest. For VIEs, the Company assesses whether it is the primary beneficiary as defined under the applicable accounting standard. Investments in affiliates, including VIEs through which the Company exercises significant influence but does not control the investee and is not the primary beneficiary of the investee’s activities, are carried at cost plus equity in undistributed earnings since acquisition and are adjusted, where appropriate, for basis differences between the investment balance and the underlying net assets of the investee. The Company’s portion of the results of certain affiliates and results of certain VIEs are included using the most recent available financial statements. In each case, the financial statements are within 93 days of the Company’s year-end and are consistent from period to period.

Use of Estimates

The preparation of consolidated financial statements in conformity with generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect amounts reported in its consolidated financial statements and accompanying notes. Actual results could differ from those estimates.

Reclassifications

Effective January 1, 2020, the Company started reporting its newly created dry mill ethanol subsidiary, Vantage Corn Processors (VCP), as a sub-segment within the Carbohydrate Solutions segment. VCP replaces the Bioproducts sub-segment which included the combined results of the Company’s corn dry and wet mill ethanol operations. The wet mill ethanol operations that were previously reported in Bioproducts are now included in the Starches and Sweeteners sub-segment. In addition to dry mill ethanol production, VCP sells/brokers ADM’s wet mill ethanol production as the sole marketer of ethanol produced at the Company’s facilities. The change does not have an impact on the total results of the Carbohydrate Solutions segment.

Prior period information in Notes 2 and 17 has been reclassified to conform to the current period segment presentation.

Cash Equivalents

The Company considers all non-segregated, highly-liquid investments with a maturity of three months or less at the time of purchase to be cash equivalents.

Segregated Cash and Investments

The Company segregates certain cash, cash equivalents, and investment balances in accordance with regulatory requirements, commodity exchange requirements, and insurance arrangements. These balances represent deposits received from customers of the Company’s registered futures commission merchant and commodity brokerage services, cash margins and securities pledged to commodity exchange clearinghouses, and cash pledged as security under certain insurance arrangements. Segregated cash and investments also include restricted cash collateral for the various insurance programs of the Company’s captive insurance business. To the degree these segregated balances are comprised of cash and cash equivalents, they are considered restricted cash and cash equivalents on the statement of cash flows.

Receivables

The Company records accounts receivable at net realizable value. This value includes an allowance for estimated uncollectible accounts of $100 million and $110 million at December 31, 2020 and 2019, respectively, to reflect any loss anticipated on the accounts receivable balances including any accrued interest receivables thereon. Long-term receivables recorded in other assets were not material to the Company’s overall receivables portfolio.

Effective January 1, 2020, the Company adopted Accounting Standards Codification (ASC) Topic 326, Financial Instruments - Credit Losses (Topic 326), and developed a new methodology for estimating uncollectible accounts. Under this methodology, receivables are pooled according to type, region, credit risk rating, and age. Each pool is assigned an expected loss co-efficient to arrive at a general reserve based on historical write-offs adjusted, as needed, for regional, economic, and other forward-looking factors. The Company minimizes credit risk due to the large and diversified nature of its worldwide customer base. ADM manages its exposure to counter-party credit risk through credit analysis and approvals, credit limits, and monitoring procedures.

The Company recorded bad debt expense in selling, general, and administrative expenses of $47 million, $23 million, and $26 million in the years ended December 31, 2020, 2019, and 2018, respectively.

Inventories

Inventories of certain merchandisable agricultural commodities, which include inventories acquired under deferred pricing contracts, are stated at market value. In addition, the Company values certain inventories using the first-in, first-out (FIFO) method at the lower of cost or net realizable value. Prior to January 1, 2020, the Company also valued certain of its agricultural commodity inventories using the last-in, first-out (LIFO) method at the lower of cost or net realizable value.

Effective January 1, 2020, the Company changed the method of accounting for certain of its agricultural commodity inventories from the LIFO method to market value in the Ag Services and Oilseeds segment. As of December 31, 2019, inventories accounted for using LIFO at the lower of cost or net realizable value represented approximately 10% of consolidated inventories. The Company believes market value is preferable because it: (i) conforms to the inventory valuation methodology used for the majority of ADM’s agricultural commodity inventories; (ii) enhances the matching of inventory costs with revenues and better reflects the current cost of inventory on the Company’s balance sheet; and (iii) provides better comparability with the Company’s peers.

The Company concluded that the accounting change does not have a material effect on prior periods’ financial statements and elected not to apply the change on a retrospective basis. As a result, the Company recorded a reduction in cost of products sold of $91 million ($69 million after tax, equal to $0.12 per diluted share) for the cumulative effect of the change in the three months ended March 31, 2020 with no impact to the statement of cash flows. The change did not have a material impact on the Company’s results for the year ended December 31, 2020.

If the Company had not made the accounting change, the effect of LIFO valuation on ADM’s operating results would have been an increase in cost of goods sold of $147 million ($113 million after tax, equal to $0.20 per diluted share) in the year ended December 31, 2020, with no impact to the consolidated statement of cash flows.

The following table sets forth the Company’s inventories as of December 31, 2020 and 2019.


	December 31, 2020		December 31, 2019
	(In millions)
LIFO inventories
FIFO value	$	—	$	1,022
LIFO valuation reserve	—		(91)
LIFO inventories carrying value	—		931
FIFO inventories	3,310		3,106
Market inventories	7,941		4,704
Supplies and other inventories	462		429
Total inventories	$	11,713	$	9,170

Fair Value Measurements

The Company determines fair value based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company uses the market approach valuation technique to measure the majority of its assets and liabilities carried at fair value. Three levels are established within the fair value hierarchy that may be used to report fair value: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Observable inputs, including Level 1 prices that have been adjusted; quoted prices for similar assets or liabilities; quoted prices in markets that are less active than traded exchanges; and other inputs that are observable or can be substantially corroborated by observable market data. Level 3: Unobservable inputs that are supported by little or no market activity and that are a significant component of the fair value of the assets or liabilities. In evaluating the significance of fair value inputs, the Company generally classifies assets or liabilities as Level 3 when their fair value is determined using unobservable inputs that individually or when aggregated with other unobservable inputs, represent more than 10% of the fair value of the assets or liabilities. Judgment is required in evaluating both quantitative and qualitative factors in the determination of significance for purposes of fair value level classification. Level 3 amounts can include assets and liabilities whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as assets and liabilities for which the determination of fair value requires significant management judgment or estimation.

Based on historical experience with the Company’s suppliers and customers, the Company’s own credit risk and knowledge of current market conditions, the Company does not view nonperformance risk to be a significant input to fair value for the majority of its forward commodity purchase and sale contracts. However, in certain cases, if the Company believes the nonperformance risk to be a significant input, the Company records estimated fair value adjustments, and classifies the measurement in Level 3.

In many cases, a valuation technique used to measure fair value includes inputs from multiple levels of the fair value hierarchy. The lowest level of input that is a significant component of the fair value measurement determines the placement of the entire fair value measurement in the hierarchy. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the classification of fair value assets and liabilities within the fair value hierarchy levels.

The Company’s policy regarding the timing of transfers between levels, including both transfers into and transfers out of Level 3, is to measure and record the transfers at the end of the reporting period.

Derivatives

The Company recognizes all of its derivative instruments as either assets or liabilities at fair value in its consolidated balance sheet. Unrealized gains are reported as other current assets and unrealized losses are reported as accrued expenses and other payables. The accounting for changes in the fair value (i.e., gains or losses) of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and on the type of hedging relationship. The majority of the Company’s derivatives have not been designated as hedging instruments, and as such, changes in fair value of these derivatives are recognized in earnings immediately. For those derivative instruments that are designated and qualify as hedging instruments, the Company designates the hedging instrument, based upon the exposure being hedged, as a fair value hedge, a cash flow hedge, or a net investment hedge.

For derivative instruments that are designated and qualify as highly-effective cash flow hedges (i.e., hedging the exposure to variability in expected future cash flows that is attributable to a particular risk), the gain or loss on the derivative instrument is reported as a component of accumulated other comprehensive income (loss) (AOCI) and as an operating activity in the statement of cash flows and reclassified into earnings in the same line item affected by the hedged transaction and in the same period or periods during which the hedged transaction affects earnings. Hedge components excluded from the assessment of effectiveness and gains and losses related to discontinued hedges are recognized in the consolidated statement of earnings during the current period.

For derivative instruments that are designated and qualify as fair value hedges, changes in the fair value of the hedging instrument and changes in the fair value of the hedged item are recognized in the consolidated statement of earnings during the current period.

For derivative instruments that are designated and qualify as net investment hedges, foreign exchange gains and losses related to changes in foreign currency exchange rates are deferred in AOCI until the underlying investment is divested.

Property, Plant, and Equipment

Property, plant, and equipment is recorded at cost. Repair and maintenance costs are expensed as incurred. The Company generally uses the straight-line method in computing depreciation for financial reporting purposes and generally uses accelerated methods for income tax purposes. The annual provisions for depreciation have been computed principally in accordance with the following ranges of asset lives: buildings - 15 to 40 years; machinery and equipment - 3 to 40 years. The Company capitalized interest on major construction projects in progress of $14 million, $15 million, and $21 million for the years ended December 31, 2020, 2019, and 2018, respectively.

Income Taxes

The Company accounts for income taxes in accordance with the liability method. Deferred tax assets and liabilities are recorded for temporary differences between the tax basis of assets and liabilities and reported amounts in the consolidated financial statements using statutory rates in effect for the year in which the differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recorded in the results of operations in the period that includes the enactment date under the law. Applicable accounting standards prescribe a minimum threshold a tax position is required to meet before being recognized in the consolidated financial statements. The Company recognizes in its consolidated financial statements tax positions determined more likely than not to be sustained upon examination, based on the technical merits of the position.

The Company classifies interest on income tax-related balances as interest expense and classifies tax-related penalties as selling, general, and administrative expenses.

Goodwill and other intangible assets

Goodwill and other intangible assets deemed to have indefinite lives are not amortized but are subject to annual impairment tests. Definite-lived intangible assets, including capitalized expenses related to the Company’s 1ADM program, are amortized over their estimated useful lives of 1 to 50 years and are reviewed for impairment whenever there are indicators that the carrying value of the assets may not be fully recoverable. The Company’s accounting policy is to evaluate goodwill and other intangible assets with indefinite lives for impairment on October 1 of each fiscal year or whenever there are indicators that the carrying value of the assets may not be fully recoverable. The Company recorded impairment charges totaling $26 million related to customer lists, $11 million related to goodwill and intangibles, and $9 million related customer lists during the years ended December 31, 2020, 2019, and 2018, respectively (see Note 9 for additional information).

Asset Abandonments and Write-Downs

The Company evaluates long-lived assets for impairment whenever indicators of impairment exist. In addition, assets are written down to fair value after consideration of the Company’s ability to utilize the assets for their intended purpose, employ the assets in alternative uses, or sell the assets to recover the carrying value. Fair value is generally based on discounted cash flow analysis which relies on management’s estimate of market participant assumptions or estimated selling price for assets considered held for sale (a Level 3 measurement under applicable accounting standards). During 2020, the Company temporarily idled certain of its corn processing assets where ethanol is produced and performed a quantitative impairment assessment of those assets, resulting in no impairment charges. The total carrying value of the temporarily idled assets as of December 31, 2020 was immaterial. During the years ended December 31, 2020, 2019, and 2018, asset abandonment and impairment charges were $28 million, $131 million, and $100 million, respectively.

Payables to Brokerage Customers

Payables to brokerage customers represent the total of customer accounts at the Company’s futures commission merchant with credit or positive balances. Customer accounts are used primarily in connection with commodity transactions and include gains and losses on open commodity trades as well as securities and other deposits made for margins or other purposes as required by the Company or the exchange-clearing organizations or counterparties. Payables to brokerage customers have a corresponding balance in segregated cash and investments and customer omnibus receivable in other current assets.

Revenues

The Company follows a policy of recognizing revenue at a single point in time when it satisfies its performance obligation by transferring control over a product or service to a customer. For transportation service contracts, the Company recognizes revenue over time as the barge, ocean-going vessel, truck, rail, or container freight moves towards its destination in accordance with the transfer of control guidance of ASC Topic 606, Revenue from Contracts with Customers (“Topic 606”). For physically settled derivative sales contracts that are outside the scope of Topic 606, the Company recognizes revenue when control of the inventory is transferred within the meaning of Topic 606 as required by ASC 610-20, Gains and Losses from the Derecognition of Nonfinancial Assets (“Topic 610-20”).

Stock Compensation

The Company recognizes expense for its stock compensation based on the fair value of the awards that are granted. The Company’s stock compensation plans provide for the granting of restricted stock, restricted stock units, performance stock units, and stock options. The fair values of stock options and performance stock units are estimated at the date of grant using the Black-Scholes option valuation model and a lattice valuation model, respectively. These valuation models require the input of subjective assumptions. Measured compensation cost, net of forfeitures, is recognized ratably over the vesting period of the related stock compensation award.

Research and Development

Costs associated with research and development are expensed as incurred. Such costs incurred, net of expenditures subsequently reimbursed by government grants, were $160 million, $154 million, and $141 million for the years ended December 31, 2020, 2019, and 2018, respectively.

Per Share Data

Basic earnings per common share are determined by dividing net earnings attributable to controlling interests by the weighted average number of common shares outstanding. In computing diluted earnings per share, average number of common shares outstanding is increased by common stock options outstanding with exercise prices lower than the average market price of common shares using the treasury share method.

Business Combinations

The Company’s acquisitions are accounted for in accordance with ASC Topic 805, Business Combinations, as amended. The consideration transferred is allocated to various assets acquired and liabilities assumed at their estimated fair values as of the acquisition date with the residual allocated to goodwill. Fair values allocated to assets acquired and liabilities assumed in business combinations require management to make significant judgments, estimates, and assumptions, especially with respect to intangible assets. Management makes estimates of fair values based upon assumptions it believes to be reasonable. These estimates are based upon historical experience and information obtained from the management of the acquired companies and are inherently uncertain. The estimated fair values related to intangible assets primarily consist of customer relationships, trademarks, and developed technology which are determined primarily using discounted cash flow models. Estimates in the discounted cash flow models include, but are not limited to, certain assumptions that form the basis of the forecasted results (e.g. revenue growth rates, customer attrition rates, and royalty rates). These significant assumptions are forward looking and could be affected by future economic and market conditions. During the measurement period, which may take up to one year from the acquisition date, adjustments due to changes in the estimated fair value of assets acquired and liabilities assumed may be recorded as adjustments to the consideration transferred and the related allocations. Upon the conclusion of the measurement period or the final determination of the values of assets acquired and liabilities assumed, whichever comes first, any such adjustments are charged to the consolidated statements of earnings.

Adoption of New Accounting Standards

Effective January 1, 2020, the Company adopted the amended guidance of Topic 326, which is intended to improve financial reporting by requiring more timely recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The amended guidance replaces the prior “incurred loss” approach with an “expected loss” model and requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The Company was required to adopt the amended guidance on a modified retrospective basis through a cumulative effect adjustment to retained earnings as of the beginning of the period of adoption. The Company evaluated its current methodology of estimating allowance for doubtful accounts and the risk profile of its receivable portfolio and developed a model that includes the qualitative and forecasting aspects of the “expected loss” model under the amended guidance. The Company finalized its assessment of the impact of the amended guidance and recorded a $8 million cumulative effect adjustment to retained earnings at January 1, 2020.

Effective January 1, 2020, the Company adopted the amended guidance of ASC Topic 820, Fair Value Measurement, which modifies the disclosure requirements on fair value measurements. The adoption of this amended guidance did not impact the Company’s financial results.

Effective December 31, 2020, the Company adopted the amended guidance of ASC Subtopic 715-20, Compensation - Retirement Benefits - Defined Benefit Plans - General, which modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The adoption of this amended guidance did not impact the Company’s financial results.

Pending Accounting Standards

Effective January 1, 2021, the Company will be required to adopt the amended guidance of ASC Topic 740, Income Taxes (Topic 740), which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify other areas of Topic 740. Early adoption is permitted. The Company does not expect the adoption of the amendments to have a significant impact on its financial results.

Through December 31, 2022, the Company has the option to adopt the amended guidance of ASC Topic 848, Reference Rate Reform, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amended guidance do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The Company plans to adopt the expedients and exceptions provided by the amended guidance before the December 31, 2022 expiry date but has not yet completed its assessment of the impact on the consolidated financial statements.

Revenues Revenues

12 Months Ended

Dec. 31, 2020

Revenues [Abstract]

Revenue from Contract with Customer [Text Block]

Revenues

Revenue Recognition

The Company principally generates revenue from merchandising and transporting agricultural commodities and manufactured products used as ingredients in food, feed, energy, and industrial products. Revenue is measured based on the consideration specified in the contract with a customer, and excludes any sales incentives and amounts collected on behalf of third parties. The Company follows a policy of recognizing revenue at a single point in time when it satisfies its performance obligation by transferring control over a product or service to a customer. The majority of the Company’s contracts with customers have one performance obligation and a contract duration of one year or less. The Company applies the practical expedient in paragraph 10-50-14 of Topic 606 and does not disclose information about remaining performance obligations that have original expected durations of one year or less. For transportation service contracts, the Company recognizes revenue over time as the barge, ocean-going vessel, truck, rail, or container freight moves towards its destination in accordance with the transfer of control guidance of Topic 606. The Company recognized revenue from transportation service contracts of $423 million, $515 million, and $481 million for the years ended December 31, 2020, 2019, and 2018, respectively. For physically settled derivative sales contracts that are outside the scope of Topic 606, the Company recognizes revenue when control of the inventory is transferred within the meaning of Topic 606 as required by ASC 610-20.

Shipping and Handling Costs

Shipping and handling costs related to contracts with customers for the sale of goods are accounted for as a fulfillment activity and are included in cost of products sold. Accordingly, amounts billed to customers for such costs are included as a component of revenues.

Taxes Collected from Customers and Remitted to Governmental Authorities

The Company does not include taxes assessed by governmental authorities that are (i) imposed on and concurrent with a specific revenue-producing transaction and (ii) collected from customers, in the measurement of transactions prices or as a component of revenues and cost of products sold.

Contract Liabilities

Contract liabilities relate to advance payments from customers for goods and services that the Company has yet to provide. Contract liabilities of $626 million and $604 million as of December 31, 2020 and 2019, respectively, were recorded in accrued expenses and other payables in the consolidated balance sheet. Contract liabilities recognized as revenues for the years ended December 31, 2020 and 2019 were $604 million and $575 million, respectively.

Disaggregation of Revenues

The following tables present revenue disaggregated by timing of recognition and major product lines for the years ended December 31, 2020, 2019, and 2018.


	Year Ended December 31, 2020
	Topic 606 Revenue						Topic 815(1)		Total
	Point in Time		Over Time		Total		Revenue		Revenues
	(In millions)
Ag Services and Oilseeds
Ag Services	$	3,108	$	423	$	3,531	$	29,195	$	32,726
Crushing	467		—		467		9,126		9,593
Refined Products and Other	2,095		—		2,095		5,302		7,397
Total Ag Services and Oilseeds	5,670		423		6,093		43,623		49,716
Carbohydrate Solutions
Starches and Sweeteners	4,756		—		4,756		1,631		6,387
Vantage Corn Processors	2,085		—		2,085		—		2,085
Total Carbohydrate Solutions	6,841		—		6,841		1,631		8,472
Nutrition
Human Nutrition	2,812		—		2,812		—		2,812
Animal Nutrition	2,988		—		2,988		—		2,988
Total Nutrition	5,800		—		5,800		—		5,800

Other Business	367		—		367		—		367
Total Revenues	$	18,678	$	423	$	19,101	$	45,254	$	64,355


	Year Ended December 31, 2019
	Topic 606 Revenue						Topic 815(1)		Total
	Point in Time		Over Time		Total		Revenue		Revenues
	(In millions)
Ag Services and Oilseeds
Ag Services	$	4,693	$	515	$	5,208	$	26,497	$	31,705
Crushing	736		—		736		8,743		9,479
Refined Products and Other	2,230		—		2,230		5,327		7,557
Total Ag Services and Oilseeds	7,659		515		8,174		40,567		48,741
Carbohydrate Solutions
Starches and Sweeteners	5,154		—		5,154		1,700		6,854
Vantage Corn Processors	3,032		—		3,032		—		3,032
Total Carbohydrate Solutions	8,186		—		8,186		1,700		9,886
Nutrition
Human Nutrition	2,745		—		2,745		—		2,745
Animal Nutrition	2,932		—		2,932		—		2,932
Total Nutrition	5,677		—		5,677		—		5,677

Other Business	352		—		352		—		352
Total Revenues	$	21,874	$	515	$	22,389	$	42,267	$	64,656


	Year Ended December 31, 2018
	Topic 606 Revenue						Topic 815(1)		Total
	Point in Time		Over Time		Total		Revenue		Revenues
	(In millions)
Ag Services and Oilseeds
Ag Services	$	2,182	$	481	$	2,663	$	29,103	$	31,766
Crushing	664		—		664		9,655		10,319
Refined Products and Other	1,792		—		1,792		6,014		7,806
Total Ag Services and Oilseeds	4,638		481		5,119		44,772		49,891
Carbohydrate Solutions
Starches and Sweeteners	5,127		—		5,127		1,795		6,922
Vantage Corn Processors	3,357		—		3,357		—		3,357
Total Carbohydrate Solutions	8,484		—		8,484		1,795		10,279
Nutrition
Human Nutrition	2,571		—		2,571		—		2,571
Animal Nutrition	1,219		—		1,219		—		1,219
Total Nutrition	3,790		—		3,790		—		3,790

Other Business	381		—		381		—		381
Total Revenues	$	17,293	$	481	$	17,774	$	46,567	$	64,341

(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. Revenue is measured based on the consideration specified in the contract and excludes any sales incentives and amounts collected on behalf of third parties. Revenue is recognized when a performance obligation is satisfied by transferring control over a product or providing service to a customer. For transportation service contracts, the Company recognizes revenue over time as the barge, ocean-going vessel, truck, rail, or container freight moves towards its destination in accordance with the transfer of control guidance of Topic 606. The amount of revenue recognized follows the contractually specified price which may include freight or other contractually specified cost components. For physically settled derivative sales contracts that are outside the scope of Topic 606, the Company recognizes revenue when control of the inventory is transferred within the meaning of Topic 606 as required by Topic 610-20.

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. For physically settled derivative sales contracts that are outside the scope of Topic 606, the Company recognizes revenue when control of the inventory is transferred within the meaning of Topic 606 as required by Topic 610-20.

Nutrition

The Nutrition segment sells specialty products including natural flavor ingredients, flavor systems, natural colors, animal nutrition products, 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. Freight and shipping are recognized as a component of revenue at the same time control transfers to the customer.

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 also includes the Company’s captive insurance business which generates third party revenue through its proportionate share of premiums from third-party reinsurance pools. Reinsurance premiums are recognized on a straight-line basis over the period underlying the policy.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Acquisitions

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Acquisitions

AcquisitionsOperating results of acquisitions are included in the Company’s financial statements from the date of acquisition and were not significant for the year ended December 31, 2020. Goodwill allocated in connection with the acquisitions is primarily attributable to synergies expected to arise after the Company’s acquisition of the businesses.

Fiscal year 2020 acquisitions

During the year ended December 31, 2020, the Company acquired Yerbalatina and the remaining 70% interest in Anco Animal Nutrition Competence GmbH (“Anco”) for an aggregate cash consideration of $15 million. The aggregate cash consideration of these acquisitions plus the $3 million acquisition-date value of the Company’s previously held equity interest in Anco, were allocated as follows:


	(In millions)
Working capital	$	16
Property, plant, and equipment	1
Goodwill	2
Long-term liabilities	(1)
Aggregate cash consideration plus acquisition-date fair value of previously held equity interest	$	18

The Company recognized a pre-tax gain of $2 million on the Anco transaction, representing the difference between the carrying value and acquisition-date fair value of the Company’s previously held equity interest. The acquisition-date fair value was determined based on a discounted cash flow analysis using market participant assumptions (a Level 3 measurement under applicable accounting standards).

Fiscal year 2019 acquisitions

During the year ended December 31, 2019, the Company acquired Neovia SAS (“Neovia”), Florida Chemical Company (“FCC”), The Ziegler Group (“Ziegler”), and the remaining 50% interest in Gleadell Agriculture Ltd (“Gleadell”), for an aggregate cash consideration of $2.0 billion. The aggregate cash consideration of these acquisitions, net of $95 million in cash acquired, plus the $15 million acquisition-date value of the Company’s previously held equity interest in Gleadell, was allocated as follows:


(In millions)	Neovia		FCC		Ziegler		Gleadell		Total
Working capital	$	108	$	31	$	18	$	(6)	$	151
Property, plant, and equipment	384		17		3		13		417
Goodwill	773		94		23		10		900
Other intangible assets	669		29		35		—		733
Other long-term assets	83		—		—		9		92
Long-term liabilities	(325)		(1)		(10)		(11)		(347)
Aggregate cash consideration, net of cash acquired, plus acquisition-date fair value of previously held equity interest	$	1,692	$	170	$	69	$	15	$	1,946

Of the $900 million allocated to goodwill, $94 million is expected to be deductible for tax purposes.

The Company recognized a pre-tax gain of $4 million on the Gleadell transaction, representing the difference between the carrying value and acquisition-date fair value of the Company’s previously held equity interest. The acquisition-date fair value was determined based on a discounted cash flow analysis using market participant assumptions (a Level 3 measurement under applicable accounting standards).

The following table sets forth the fair values and the useful lives of the other intangible assets acquired.


	Useful Lives			Neovia		FCC		Ziegler		Total
	(In years)			(In millions)
Intangible assets with indefinite lives:
Trademarks/brands				$	194	$	—	$	—	$	194

Intangible assets with finite lives:
Trademarks/brands	5	to	15	12		—		4		16
Customer lists	10	to	20	304		15		5		324
Other intellectual property	6	to	10	159		14		26		199
Total other intangible assets acquired				$	669	$	29	$	35	$	733

The Neovia, FCC, and Ziegler acquisitions are in line with the Company’s strategy to become one of the world’s leading nutrition companies. The post-acquisition financial results of these acquisitions are reported in the Nutrition segment.

Fiscal year 2018 acquisitions

During the year ended December 31, 2018, the Company acquired Probiotics International Limited (also known as Protexin), a British-based provider of probiotic supplements for human, pet, and production-animal uses, Rodelle Inc., a premium originator, processor and supplier of vanilla products, and certain soybean origination, crushing, refining, and bottling assets of Brazil-based Algar Agro, for an aggregate cash consideration of $506 million. The aggregate cash consideration of these acquisitions, net of $42 million in cash acquired, was allocated as follows:


	(In millions)
Working capital	$	30
Property, plant, and equipment	133
Goodwill	187
Other intangible assets	132
Other long-term assets	6
Deferred tax liabilities	(15)
Noncontrolling interest	(9)
Aggregate cash consideration, net of cash acquired	$	464

The acquisitions of Protexin and Rodelle Inc. expand the Company’s wide portfolio of health and wellness offerings for both human and animal nutrition consumers.

Fair Value Measurements

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

The following tables set forth, by level, the Company’s assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2020 and 2019.


	Fair Value Measurements at December 31, 2020
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
			(In millions)
Assets:
Inventories carried at market	$	—	$	5,758	$	2,183	$	7,941
Unrealized derivative gains:
Commodity contracts	—		1,905		859		2,764
Foreign exchange contracts	—		283		—		283
Interest rate contracts	—		61		—		61
Cash equivalents	297		—		—		297
Marketable securities	1		—		—		1
Segregated investments	1,067		—		—		1,067

Total Assets	$	1,365	$	8,007	$	3,042	$	12,414
Liabilities:
Unrealized derivative losses:
Commodity contracts	$	—	$	1,116	$	918	$	2,034
Foreign exchange contracts	—		535		—		535
Interest rate contracts	—		15		—		15
Debt conversion option	—		—		34		34
Inventory-related payables	—		498		11		509
Total Liabilities	$	—	$	2,164	$	963	$	3,127


	Fair Value Measurements at December 31, 2019
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
			(In millions)
Assets:
Inventories carried at market	$	—	$	3,227	$	1,477	$	4,704
Unrealized derivative gains:
Commodity contracts	—		277		201		478
Foreign currency contracts	—		138		—		138
Interest rate contracts	—		3		—		3
Cash equivalents	505		—		—		505
Marketable securities	5		—		—		5
Segregated investments	628		—		—		628
Deferred consideration	—		446		—		446
Total Assets	$	1,138	$	4,091	$	1,678	$	6,907
Liabilities:
Unrealized derivative losses:
Commodity contracts	$	—	$	375	$	199	$	574
Foreign currency contracts	—		125		—		125
Interest rate contracts	—		43		—		43
Inventory-related payables	—		702		27		729
Total Liabilities	$	—	$	1,245	$	226	$	1,471

Estimated fair values for inventories carried at market are based on exchange-quoted prices, adjusted for differences in local markets and quality, referred to as basis. Market valuations for the Company’s inventories are adjusted for location and quality (basis) because the exchange-quoted prices represent contracts that have standardized terms for commodity, quantity, future delivery period, delivery location, and commodity quality or grade. The basis adjustments are generally determined using inputs from broker or dealer quotations or market transactions in either the listed or over the counter (OTC) markets and are considered observable. In some cases, the basis adjustments are unobservable because they are supported by little to no market activity. When unobservable inputs have a significant impact on the measurement of fair value, the inventory is classified in Level 3. Changes in the fair value of inventories are recognized in the consolidated statements of earnings as a component of cost of products sold.

Derivative contracts include exchange-traded commodity futures and options contracts, forward commodity purchase and sale contracts, and OTC instruments related primarily to agricultural commodities, energy, interest rates, and foreign currencies. Exchange-traded futures and options contracts are valued based on unadjusted quoted prices in active markets and are classified in Level 1. The majority of the Company’s exchange-traded futures and options contracts are cash-settled on a daily basis and, therefore, are not included in these tables. Fair value for forward commodity purchase and sale contracts is estimated based on exchange-quoted prices adjusted for differences in local markets. Market valuations for the Company’s forward commodity purchase and sale contracts are adjusted for location (basis) because the exchange-quoted prices represent contracts that have standardized terms for commodity, quantity, future delivery period, delivery location, and commodity quality or grade. The basis adjustments are generally determined using inputs from broker or dealer quotations or market transactions in either the listed or OTC markets and are considered observable. In some cases, the basis adjustments are unobservable because they are supported by little to no market activity. When observable inputs are available for substantially the full term of the contract, it is classified in Level 2. When unobservable inputs have a significant impact (more than 10%) on the measurement of fair value, the contract is classified in Level 3. Except for certain derivatives designated as cash flow hedges, changes in the fair value of commodity-related derivatives are recognized in the consolidated statements of earnings as a component of cost of products sold. Changes in the fair value of foreign currency-related derivatives are recognized in the consolidated statements of earnings as a component of revenues, cost of products sold, and other (income) expense - net, depending upon the purpose of the contract. The changes in the fair value of derivatives designated as effective cash flow hedges are recognized in the consolidated balance sheets as a component of accumulated other comprehensive income (loss) (AOCI) until the hedged items are recorded in earnings or it is probable the hedged transaction will no longer occur.

The Company’s cash equivalents are comprised of money market funds valued using quoted market prices and are classified as Level 1.

The Company’s marketable securities are comprised of U.S. Treasury securities and corporate debt securities. U.S. Treasury securities are valued using quoted market prices and are classified in Level 1. Corporate debt securities are valued using third-party pricing services and substantially all are classified in Level 2. Unrealized changes in the fair value of available-for-sale marketable debt securities are recognized in the consolidated balance sheets as a component of AOCI unless a decline in value is deemed to be other-than-temporary at which point the decline is recorded in earnings.

The Company’s segregated investments are comprised of U.S. Treasury securities. U.S. Treasury securities are valued using quoted market prices and are classified in Level 1.

The Company had deferred consideration under its accounts receivable securitization programs (the “Programs”) which represented notes receivable from the purchasers under the Programs (see Note 19). This amount was reflected in other current assets on the consolidated balance sheet (see Note 6). The Company carried the deferred consideration at fair value determined by calculating the expected amount of cash to be received. The fair value was principally based on observable inputs (a Level 2 measurement) consisting mainly of the face amount of the receivables adjusted for anticipated credit losses and discounted at the appropriate market rate. Receipt of deferred consideration was not subject to significant risks other than delinquencies and credit losses on accounts receivable transferred under the Programs which have historically been insignificant.

The debt conversion option is the equity linked embedded derivative related to the exchangeable bonds described in Note 10. The fair value of the embedded derivative is included in long-term debt, with changes in fair value recognized as interest, and is valued with the assistance of a third-party pricing service (a level 3 measurement under applicable accounting standards).

The following tables present a rollforward of the activity of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the years ended December 31, 2020 and 2019.


	Level 3 Fair Value Assets Measurements at December 31, 2020
	Inventories Carried at Market		Commodity Derivative Contracts Gains		Total
	(In millions)
Balance, December 31, 2019	$	1,477	$	201	$	1,678
Total increase (decrease) in net realized/unrealized gains included in cost of products sold	146		938		1,084
Purchases	14,185		—		14,185
Sales	(13,852)		—		(13,852)
Settlements	—		(257)		(257)
Transfers into Level 3	290		70		360
Transfers out of Level 3	(63)		(93)		(156)
Ending balance, December 31, 2020 (1)	$	2,183	$	859	$	3,042

(1) Includes increase in unrealized gains of $1.7 billion relating to Level 3 assets still held at December 31, 2020.


	Level 3 Fair Value Liabilities Measurements at December 31, 2020
	Inventory- related Payables		Commodity Derivative Contracts Losses		Debt Conversion Option		Total
	(In millions)
Balance, December 31, 2019	$	27	$	199	$	—	$	226
Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense	—		1,729		17		1,746
Purchases/Issuance of debt conversion option	20		—		17		37
Sales	(36)		—		—		(36)
Settlements	—		(1,059)		—		(1,059)
Transfers into Level 3	—		112		—		112
Transfers out of Level 3	—		(63)		—		(63)
Ending balance, December 31, 2020 (1)	$	11	$	918	$	34	$	963

(1) Includes increase in unrealized losses of $1.8 billion relating to Level 3 liabilities still held at December 31, 2020.


	Level 3 Fair Value Assets Measurements at December 31, 2019
	Inventories Carried at Market		Commodity Derivative Contracts Gains		Total
	(In millions)
Balance, December 31, 2018	$	1,515	$	155	$	1,670
Total increase (decrease) in net realized/unrealized gains included in cost of products sold	327		417		744
Purchases	10,833		—		10,833
Sales	(11,167)		—		(11,167)
Settlements	—		(421)		(421)
Transfers into Level 3	108		74		182
Transfers out of Level 3	(139)		(24)		(163)
Ending balance, December 31, 2019 (1)	$	1,477	$	201	$	1,678

(1) Includes increase in unrealized gains of $900 million relating to Level 3 assets still held at December 31, 2019.


	Level 3 Fair Value Liabilities Measurements at December 31, 2019
	Inventory- related Payables		Commodity Derivative Contracts Losses		Total
	(In millions)
Balance, December 31, 2018	$	18	$	245	$	263
Total increase (decrease) in net realized/unrealized losses included in cost of products sold	(1)		398		397
Purchases	48		—		48
Sales	(38)		—		(38)
Settlements	—		(451)		(451)
Transfers into Level 3	—		51		51
Transfers out of Level 3	—		(44)		(44)
Ending balance, December 31, 2019 (1)	$	27	$	199	$	226

(1) Includes increase in unrealized losses of $7 million relating to Level 3 liabilities still held at December 31, 2019.

Transfers into Level 3 of assets and liabilities previously classified in Level 2 were due to the relative value of unobservable inputs to the total fair value measurement of certain products and derivative contracts rising above the 10% threshold. Transfers out of Level 3 were primarily due to the relative value of unobservable inputs to the total fair value measurement of certain products and derivative contracts falling below the 10% threshold and thus permitting reclassification to Level 2.

In some cases, the price components that result in differences between exchange-traded prices and local prices for inventories and commodity purchase and sale contracts are observable based upon available quotations for these pricing components, and in some cases, the differences are unobservable. These price components primarily include transportation costs and other adjustments required due to location, quality, or other contract terms. In the table below, these other adjustments are referred to as basis. The changes in unobservable price components are impacted by specific local supply and demand characteristics at each facility and the overall market. Factors such as substitute products, weather, fuel costs, contract terms, and futures prices also impact the movement of these unobservable price components.

The following table sets forth the weighted average percentage of the unobservable price components included in the Company’s Level 3 valuations as of December 31, 2020 and 2019. The Company’s Level 3 measurements may include basis only, transportation cost only, or both price components. As an example, for Level 3 inventories with basis, the unobservable component as of December 31, 2020 is a weighted average 4.3% of the total price for assets and 13.7% of the total price for liabilities.


	Weighted Average % of Total Price
	December 31, 2020		December 31, 2019
Component Type	Assets	Liabilities	Assets	Liabilities
Inventories and Related Payables
Basis	4.3%	13.7%	28.2%	14.7%
Transportation cost	10.6%	—%	24.7%	—%
Commodity Derivative Contracts
Basis	28.3%	0.7%	16.0%	20.2%
Transportation cost	1.9%	1.3%	9.7%	3.1%

In certain of the Company’s principal markets, the Company relies on price quotes from third parties to value its inventories and physical commodity purchase and sale contracts. These price quotes are generally not further adjusted by the Company in determining the applicable market price. In some cases, availability of third-party quotes is limited to only one or two independent sources. In these situations, absent other corroborating evidence, the Company considers these price quotes as 100% unobservable and, therefore, the fair value of these items is reported in Level 3.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Derivative Instruments and Hedging Activities

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments & Hedging Activities

Derivatives Not Designated as Hedging Instruments

The majority of the Company’s derivative instruments have not been designated as hedging instruments. The Company uses exchange-traded futures and exchange-traded and OTC options contracts to manage its net position of merchandisable agricultural product inventories and forward cash purchase and sales contracts to reduce price risk caused by market fluctuations in agricultural commodities and foreign currencies. The Company also uses exchange-traded futures and exchange-traded and OTC options contracts as components of merchandising strategies designed to enhance margins. The results of these strategies can be significantly impacted by factors such as the correlation between the value of exchange-traded commodities futures contracts and the value of the underlying commodities, counterparty contract defaults, and volatility of freight markets. Derivatives, including exchange traded contracts and physical purchase or sale contracts, and inventories of certain merchandisable agricultural products, which include amounts acquired under deferred pricing contracts, are stated at market value. Inventory is not a derivative and therefore fair values of and changes in fair values of inventories are not included in the tables below.

The following table sets forth the fair value of derivatives not designated as hedging instruments as of December 31, 2020 and 2019.


	December 31, 2020				December 31, 2019
	Assets		Liabilities		Assets		Liabilities
	(In millions)
Foreign Currency Contracts	$	283	$	270	$	125	$	120

Commodity Contracts	2,764		2,034		478		574
Debt Conversion Option	—		34		—		—
Total	$	3,047	$	2,338	$	603	$	694

The following table sets forth the pre-tax gains (losses) on derivatives not designated as hedging instruments that have been included in the consolidated statements of earnings for the years ended December 31, 2020, 2019, and 2018.


			Cost of		Other expense (income) - net
			products				Interest
(In millions)	Revenues		sold				Expense
For the Year Ended December 31, 2020
Consolidated Statement of Earnings	$	64,355	$	59,902	$	(278)	$	339

Pre-tax gains (losses) on:
Foreign Currency Contracts	$	28	$	(496)	$	(153)	$	—
Commodity Contracts	—		(68)		—
Debt Conversion Option	—		—		—		(17)
Total gain (loss) recognized in earnings	$	28	$	(564)	$	(153)	$	(17)	$	(706)

For the Year Ended December 31, 2019
Consolidated Statement of Earnings	$	64,656	$	60,509	$	7	$	402

Pre-tax gains (losses) on:
Foreign Currency Contracts	$	9	$	32	$	(21)	$	—
Commodity Contracts	—		24		—		—
Total gain (loss) recognized in earnings	$	9	$	56	$	(21)	$	—	$	44

For the Year Ended December 31, 2018
Consolidated Statement of Earnings	$	64,341	$	60,160	$	101	$	364

Pre-tax gains (losses) on:
Foreign Currency Contracts	$	5	$	(139)	$	(177)	$	—
Commodity Contracts	—		258		—		—
Total gain (loss) recognized in earnings	$	5	$	119	$	(177)	$	—	$	(53)

Changes in the market value of inventories of certain merchandisable agricultural commodities, forward cash purchase and sales contracts, exchange-traded futures, and exchange-traded and OTC options contracts are recognized in earnings immediately as a component of cost of products sold.

Derivatives Designated as Cash Flow, Fair Value or Net Investment Hedging Strategies

The Company had certain derivatives designated as cash flow and net investment hedges as of December 31, 2020 and certain derivatives designated as cash flow, fair value, and net investment hedges as of December 31, 2019.

For derivative instruments that were designated and qualify as fair value hedges, changes in the fair value of the hedging instrument and changes in the fair value of the hedged item were recognized in the consolidated statement of earnings during the period.

The Company used interest rate swaps designated as fair value hedges to protect the fair value of $496 million in fixed-rate debt due to changes in interest rates. The terms of the interest rate swaps matched the terms of the underlying debt. At December 31, 2019, the Company had $3 million other current assets representing the fair value of the interest rate swaps and a corresponding increase in the underlying debt for the same amount with no net impact to earnings. In June 2020, the Company redeemed the debt and recorded a gain of $8 million from the termination of the swaps.

For derivative instruments that are designated and qualify as net investment hedges, foreign exchange gains and losses related to changes in foreign currency exchange rates are deferred in AOCI until the underlying investment is divested.

The Company uses cross-currency swaps and foreign exchange forwards designated as net investment hedges to protect the Company’s investment in a foreign subsidiary against changes in foreign currency exchange rates. The Company executed USD-fixed to Euro-fixed cross-currency swaps with an aggregate notional amount of $1.3 billion and $1.2 billion as of December 31, 2020 and 2019, respectively, and foreign exchange forwards with an aggregate notional amount of $1.8 billion as of December 31, 2020.

As of December 31, 2020 and 2019, the Company had after-tax losses of $202 million and after-tax gains of $6 million in AOCI, respectively, related to foreign exchange gains and losses from the net investment hedge transactions. The amount is deferred in AOCI until the underlying investment is divested.

For derivative instruments that are designated and qualify as highly-effective cash flow hedges (i.e., hedging the exposure to variability in expected future cash flow that is attributable to a particular risk), the gain or loss on the derivative instrument is reported as a component of AOCI and as an operating activity in the statement of cash flows and reclassified into earnings in the same line item affected by the hedged transaction and in the same period or periods during which the hedged transaction affects earnings. Hedge components excluded from the assessment of effectiveness and gains and losses related to discontinued hedges are recognized in the consolidated statement of earnings during the current period.

The Company’s structured trade finance programs use interest rate swaps designated as cash flow hedges to hedge the forecasted interest payments on certain letters of credit from banks. The terms of the interest rate swaps match the terms of the forecasted interest payments. The deferred gains and losses are recognized in revenues over the period in which the related interest payments are paid to the banks. The amounts are recorded in revenues as the related results are also recorded in revenues. As of December 31, 2020 and 2019, the Company had interest rate swaps maturing on various dates with aggregate notional amounts of $3.3 billion and $4.7 billion, respectively.

The Company also uses swap locks designated as cash flow hedges to hedge the changes in the forecasted interest payments due to changes in the benchmark rate leading up to future bond issuance dates. The terms of the swap locks match the terms of the forecasted interest payments. The deferred gains and losses will be recognized in interest expense over the period in which the related interest payments will be paid. During the year ended December 31, 2020, the Company executed swap locks maturing on various dates with an aggregate notional amount of $550 million.

At December 31, 2020 and 2019, the Company had after-tax gains of $31 million and after-tax losses of $43 million in AOCI, respectively, related to the interest rate swaps and swap locks. The Company expects to recognize amounts deferred in AOCI in its consolidated statement of earnings during the life of the instruments.

For each of the hedge programs described below, the derivatives are designated as cash flow hedges. The changes in the market value of such derivative contracts have historically been, and are expected to continue to be, highly effective at offsetting changes in price movements of the hedged item. Once the hedged item is recognized in earnings, the gains and losses arising from the hedge are reclassified from AOCI to either revenues or cost of products sold, as applicable. As of December 31, 2020 and 2019, the Company had $119 million of after-tax gains and $5 million of after-tax losses in AOCI, respectively, related to gains and losses from these programs. The Company expects to recognize $119 million of the 2020 after-tax gains in its consolidated statement of earnings during the next 12 months.

The Company uses futures or options contracts to hedge the purchase price of anticipated volumes of corn to be purchased and processed in a future month. The objective of this hedging program is to reduce the variability of cash flows associated with the Company’s forecasted purchases of corn. The Company’s corn processing plants normally grind approximately 72 million bushels of corn per month. Due to the temporarily idled dry mill assets, the Company is currently grinding approximately 56 million bushels of corn per month. During the past 12 months, the Company hedged between 20% and 38% of its monthly grind. At December 31, 2020, the Company had designated hedges representing between 20% to 33% of its anticipated monthly grind of corn for the next 12 months.

The Company, from time to time, also uses futures, options, and swaps to hedge the sales price of certain ethanol sales contracts. The Company has established hedging programs for ethanol sales contracts that are indexed to unleaded gasoline prices and to various exchange-traded ethanol contracts. The objective of these hedging programs is to reduce the variability of cash flows associated with the Company’s sales of ethanol. During the past 12 months, the Company hedged between 0 and 28 million gallons of ethanol sales per month under these programs. At December 31, 2020, the Company had no hedges related to ethanol sales.

The Company uses futures and options contracts to hedge the purchase price of anticipated volumes of soybeans to be purchased and processed in a future month for certain of its U.S. soybean crush facilities. The Company also uses futures or options contracts to hedge the sales prices of anticipated soybean meal and soybean oil sales proportionate to the soybean crushing process at these facilities. During the past 12 months, the Company hedged between 27% and 100% of the anticipated monthly soybean crush for soybean purchases and soybean meal and oil sales at the designated facilities. The Company has designated hedges representing between 0% and 100% of the anticipated monthly soybean crush for soybean purchases and soybean meal and oil sales at the designated facilities over the next 12 months.

The following table sets forth the fair value of derivatives designated as hedging instruments as of December 31, 2020 and 2019.


	December 31, 2020				December 31, 2019
	Assets		Liabilities		Assets		Liabilities
	(In millions)
Foreign Currency Contracts	$	—	$	265	$	13	$	5
Interest Rate Contracts	61		15		3		43
Total	$	61	$	280	$	16	$	48

The following table sets forth the pre-tax gains (losses) on derivatives designated as hedging instruments that have been included in the consolidated statement of earnings for the years ended December 31, 2020, 2019, and 2018.


			Cost of products sold		Interest expense		Other expense (income) - net
(In millions)	Revenues

For the Year Ended December 31, 2020
Consolidated Statement of Earnings	$	64,355	$	59,902	$	339	$	(278)

Effective amounts recognized in earnings
Pre-tax gains (losses) on:

Interest Contracts	(75)		$	—	$	(2)	$	—
Commodity Contracts	7		27		—		(2)
Total gain (loss) recognized in earnings	$	(68)	$	27	$	(2)	$	(2)	$	(45)

For the Year Ended December 31, 2019
Consolidated Statement of Earnings	$	64,656	$	60,509	402		$	7

Effective amounts recognized in earnings
Pre-tax gains (losses) on:

Interest Rate Contracts	$	—	$	—	$	1	$	(46)
Commodity Contracts	(44)		(11)		—		—



Total gain (loss) recognized in earnings	$	(44)	$	(11)	$	1	$	(46)	$	(100)

For the Year Ended December 31, 2018
Consolidated Statement of Earnings	$	64,341	$	60,160	$	364	$	101

Effective amounts recognized in earnings
Pre-tax gains (losses) on:

Interest Rate Contracts	$	—	$	—	$	1	$	—
Commodity Contracts	36		(113)		—		—




Total gain (loss) recognized in earnings	$	36	$	(113)	$	1	$	—	$	(76)

Other Net Investment Hedging Strategies

The Company has designated €1.5 billion and €1.7 billion of its outstanding long-term debt and commercial paper borrowings at December 31, 2020 and 2019, respectively, as hedges of its net investment in a foreign subsidiary. As of December 31, 2020 and 2019, the Company had after-tax losses of $87 million and after-tax gains of $7 million in AOCI, respectively, related to foreign exchange gains and losses from these net investment hedge transactions. The amount is deferred in AOCI until the underlying investment is divested.

Other Current Assets

12 Months Ended

Dec. 31, 2020

Other Assets [Abstract]

Other Current Assets

The following table sets forth the items in other current assets:


	December 31, 2020		December 31, 2019
	(In millions)
Unrealized gains on derivative contracts	$	3,108	$	619
Deferred receivables consideration	—		446
Margin deposits and grain accounts	500		111
Customer omnibus receivable	860		1,014
Financing receivables - net (1)	297		395
Insurance premiums receivable	35		41
Prepaid expenses	290		318
Biodiesel tax credit	101		541
Tax receivables	680		579
Non-trade receivables (2)	218		369
Other current assets	135		167
	$	6,224	$	4,600

(1) The Company provides financing to suppliers, primarily Brazilian farmers, to finance a portion of the suppliers’ production costs. The amounts are reported net of allowances of $4 million and $3 million at December 31, 2020 and 2019, respectively. Interest earned on financing receivables of $20 million, $27 million, and $26 million for the years ended December 31, 2020, 2019, and 2018, respectively, is included in interest income in the consolidated statements of earnings.

(2) Non-trade receivables included $40 million and $81 million of reinsurance recoverables as of December 31, 2020 and 2019, respectively.

Accrued Expenses And Other Payables

12 Months Ended

Dec. 31, 2020

Payables and Accruals [Abstract]

Accrued Expenses And Other Payables

Accrued Expenses and Other Payables

The following table sets forth the items in accrued expenses and other payables:


	December 31, 2020		December 31, 2019
	(In millions)
Unrealized losses on derivative contracts	$	2,584	$	742

Accrued compensation	396		300
Income tax payable	41		72
Other taxes payable	127		120
Biodiesel tax credit payable	5		332
Insurance claims payable	238		284
Contract liability	626		604

Other accruals and payables	926		1,088
	$	4,943	$	3,542

Investments In And Advances To Affiliates

12 Months Ended

Dec. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Investments In And Advances To Affiliates

Investments in and Advances to Affiliates

The Company applies the equity method of accounting for investments in investees over which ADM has the ability to exercise significant influence, including the Company’s 22.2% and 24.8% share ownership in Wilmar as of December 31, 2020 and 2019, respectively. The Company had 60 and 63 unconsolidated domestic and foreign affiliates as of December 31, 2020 and 2019, respectively. The following table summarizes the combined balance sheets as of December 31, 2020 and 2019, and the combined statements of earnings of the Company’s unconsolidated affiliates for the years ended December 31, 2020, 2019, and 2018.


	December 31
(In millions)	2020		2019
Current assets	$	29,508	$	26,695
Non-current assets	23,853		22,627
Current liabilities	(25,969)		(23,580)
Non-current liabilities	(7,191)		(5,913)
Noncontrolling interests	(1,075)		(1,066)
Net assets	$	19,126	$	18,763


	Year Ended December 31
(In millions)	2020		2019		2018
Revenues	$	59,195	$	50,596	$	53,143
Gross profit	5,070		5,334		5,118
Net income	2,093		1,455		1,881

The Company’s share of the undistributed earnings of its unconsolidated affiliates as of December 31, 2020 is $2.6 billion. The Company’s investment in Wilmar has a carrying value of $3.6 billion as of December 31, 2020, and a market value of $5.0 billion based on quoted market price converted to U.S. dollars at the applicable exchange rate at December 31, 2020.

The Company provides credit facilities totaling $106 million to five unconsolidated affiliates. Two facilities that bear interest between 0.00% and 2.46% have a total outstanding balance of $36 million. The other three facilities have no outstanding balance as of December 31, 2020. The outstanding balance is included in other current assets in the accompanying consolidated balance sheet.

Net sales to unconsolidated affiliates during the years ended December 31, 2020, 2019, and 2018 were $4.7 billion, $4.9 billion, and $5.6 billion, respectively.

Accounts receivable due from unconsolidated affiliates as of December 31, 2020 and 2019 was $197 million and $156 million, respectively.

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill balances attributable to consolidated businesses, by segment, are set forth in the following table.


	December 31, 2020		December 31, 2019
	(In millions)
Ag Services and Oilseeds	$	212	$	206

Carbohydrate Solutions	263		261
Nutrition	2,972		2,914
Other Business	4		4
Total	$	3,451	$	3,385

The changes in goodwill during the year ended December 31, 2020 related to foreign currency translation.

The following table sets forth the other intangible assets:


				December 31, 2020						December 31, 2019
	Useful			Gross		Accumulated				Gross		Accumulated
	Life			Amount		Amortization		Net		Amount		Amortization		Net
	(In years)			(In millions)
Intangible assets with indefinite lives:
Trademarks/brands				$	429	$	—	$	429	$	440	$	—	$	440

Other				1		—		1		1		—		1

Intangible assets with definite lives:
Trademarks/brands	5	to	20	39		(16)		23		35		(13)		22
Customer lists	5	to	30	1,196		(390)		806		1,194		(310)		884

Computer software	1	to	8	464		(354)		110		425		(305)		120
Land rights	2	to	50	177		(35)		142		168		(30)		138
Other intellectual property	6	to	20	241		(79)		162		238		(56)		182
Recipes and other	3	to	35	489		(200)		289		538		(234)		304


Total				$	3,036	$	(1,074)	$	1,962	$	3,039	$	(948)	$	2,091

Aggregate amortization expense was $173 million, $165 million, and $129 million for the years ended December 31, 2020, 2019, and 2018, respectively. The estimated future aggregate amortization expense for the next five years is $188 million, $178 million, $164 million, $153 million, and $132 million, respectively.

Debt Financing Arrangements

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Debt Financing Arrangements

The Company’s long-term debt consisted of the following:


Debt Instrument
Interest Rate	Face Amount		Due Date	December 31, 2020		December 31, 2019
				(In millions)
2.5% Notes	$1 billion		2026	$	995	$	994

3.25% Notes	$1 billion		2030	987		—

1% Notes	€650 million		2025	789		723

1.75% Notes	€600 million		2023	731		669

4.5% Notes	$600 million		2049	588		587

2.75% Notes	$500 million		2025	493		—

5.375% Debentures	$432 million	(4)	2035	424		461

3.75% Notes	$408 million	(1)	2047	402		493

5.935% Debentures	$336 million	(6)	2032	333		379

0% Bonds	$300 million		2023	330		—

5.765% Debentures	$297 million	(5)	2041	297		378

4.535% Debentures	$383 million	(3)	2042	281		384

4.016% Debentures	$371 million	(2)	2043	255		389

7% Debentures	$160 million	(11)	2031	159		163

6.95% Debentures	$157 million	(10)	2097	154		155

7.5% Debentures	$147 million	(12)	2027	146		150

6.625% Debentures	$144 million	(8)	2029	144		159

6.75% Debentures	$103 million	(9)	2027	103		117

6.45% Debentures	$103 million	(7)	2038	102		126

4.479% Debentures	$516 million		2021	—		500

3.375% Notes	$400 million		2022	—		398







Other				174		454
Total long-term debt including current maturities				7,887		7,679
Current maturities				(2)		(7)
Total long-term debt				$	7,885	$	7,672

(1) $500 million face amount in 2019 (10) $159 million face amount in 2019

(2) $570 million face amount in 2019 (11) $164 million face amount in 2019

(3) $528 million face amount in 2019 (12) $150 million face amount in 2019

(4) $470 million face amount in 2019

(5) $378 million face amount in 2019

(6) $383 million face amount in 2019

(7) $127 million face amount in 2019

(8) $160 million face amount in 2019

(9) $118 million face amount in 2019

On March 27, 2020, the Company issued $0.5 billion and $1.0 billion aggregate principal amounts of 2.75% Notes due in 2025 and 3.25% Notes due in 2030, respectively. Net proceeds before expenses for the 2.75% and 3.25% Notes were $492 million and $988 million, respectively.

During the second half of 2020, the global credit market stabilized with corporate credit spreads below pre-pandemic levels. Continued actions by central banks provided additional support in both the short-term and long-term funding markets further stabilizing corporate credit markets. Low benchmark yields and favorable credit spreads coupled with continued strong cash flow generation during the second half of the year presented opportunities for ADM to re-balance the Company’s liability portfolio to pre-pandemic levels. Starting in June 2020, ADM began a series of liability management transactions including multiple early debt redemptions and the $665 million debt tender in September 2020 to capitalize on all-time low interest rates:

In June 2020, the Company redeemed $495 million aggregate principal amount of 4.479% debentures due in 2021 and recognized a debt extinguishment charge of $14 million in the year ended December 31, 2020.

In September 2020, the Company redeemed $400 million aggregate principal amount of 3.375% notes due in 2022 and recognized a debt extinguishment charge of $19 million in the year ended December 31, 2020.

In September 2020, the Company repurchased $665 million aggregate principal amount of certain of its outstanding notes and debentures (the “Debentures”) validly tendered and not withdrawn. Pursuant to the terms of its cash tender offers, the Company paid aggregate total consideration of $933 million for the Debentures accepted for repurchase. The cash tender offers were partially financed by the proceeds of the exchangeable bonds issued by the Company's wholly-owned subsidiary, ADM Ag Holding Limited (“ADM Ag”), on August 26, 2020 as discussed below. The Company recognized a debt extinguishment charge of $370 million in the year ended December 31, 2020 which consisted of make-whole premiums and the write-off of debt issuance costs.

In September 2020 and November 2020, the Company’s wholly-owned subsidiary, ADM Germany GmbH, redeemed private placement notes due in 2021 and 2024 totaling $200 million aggregate principal amount and recognized a debt extinguishment charge of $6 million in the year ended December 31, 2020.

On August 26, 2020, ADM Ag issued $300 million aggregate principal amount of zero coupon exchangeable bonds (the “Bonds”) due in 2023 to non-U.S. persons outside of the U.S. Subject to and upon compliance with the terms and conditions of the Bonds and any conditions, procedures, and certifications prescribed thereunder, the Bonds will be exchangeable for ordinary shares of Wilmar International Limited (“Wilmar”) currently held by the Company’s consolidated subsidiaries. Effective October 6, 2020, holders of the Bonds will be entitled to receive 50,597.0453 Wilmar shares (the “Exchange Property per Bond”) for each $200,000 principal amount of the Bonds, on the exercise of their exchange rights, subject to dividend adjustments. Effective February 26, 2022, ADM Ag has the option to call the outstanding Bonds at their principal amount if the value of the Exchange Property per Bond exceeds 120% of the principal amount for 20 consecutive trading days. The Company accounts for the Bond’s exchange feature as an equity-linked embedded derivative that is not clearly and closely related to the host debt instrument since it is indexed to Wilmar’s stock. The Company unconditionally and irrevocably guarantees the payment of all sums payable and the performance of all of ADM Ag’s other obligations under the Bonds. In contemplation of the issuance of the Bonds, Archer Daniels Midland Asia-Pacific Limited, the Company’s wholly-owned subsidiary that holds shares in Wilmar, entered into a stock borrowing and lending agreement with a financial institution.

Discount amortization expense, net of premium amortization, of $13 million, $12 million, and $10 million for the years ended December 31, 2020, 2019, and 2018, respectively, are included in interest expense related to the Company’s long-term debt.

At December 31, 2020, the fair value of the Company’s long-term debt exceeded the carrying value by $1.6 billion, as estimated using quoted market prices (a Level 2 measurement under applicable accounting standards).

The aggregate maturities of long-term debt for the five years after December 31, 2020, are $2 million, $0 million, $1.1 billion, $1 million, and $1.3 billion, respectively.

At December 31, 2020, the Company had lines of credit, including the accounts receivable securitization programs described below, totaling $10.2 billion, of which $6.6 billion was unused. The weighted average interest rates on short-term borrowings outstanding at December 31, 2020 and 2019, were 0.45% and 1.23%, respectively. Of the Company’s total lines of credit, $5.0 billion supported the commercial paper borrowing programs, against which there was $1.7 billion of commercial paper outstanding at December 31, 2020.

The Company’s credit facilities and certain debentures require the Company to comply with specified financial and non-financial covenants including maintenance of minimum tangible net worth as well as limitations related to incurring liens, secured debt, and certain other financing arrangements. The Company is in compliance with these covenants as of December 31, 2020.

The Company had outstanding standby letters of credit and surety bonds at December 31, 2020 and 2019, totaling $1.2 billion and $1.4 billion, respectively.

The Company has accounts receivable securitization programs (the “Programs”). The Programs provide the Company with up to $1.8 billion in funding resulting from the sale of accounts receivable. As of December 31, 2020, the Company utilized $1.6 billion of its facility under the Programs (see Note 19 for more information on the Programs).

Stock Compensation

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Stock Compensation

The Company’s employee stock compensation plans provide for the granting of options to employees to purchase common stock of the Company pursuant to the Company’s 2020 Incentive Compensation Plan. These options are issued at market value on the date of grant, vest incrementally over one year to five years, and expire ten years after the date of grant.

The fair value of each option grant is estimated as of the date of grant using the Black-Scholes single option pricing model. The volatility assumption used in the Black-Scholes single option pricing model is based on the historical volatility of the Company’s stock. The volatility of the Company’s stock was calculated based upon the monthly closing price of the Company’s stock for the period immediately prior to the date of grant corresponding to the average expected life of the grant. The average expected life represents the period of time that option grants are expected to be outstanding. The risk-free rate is based on the rate of U.S. Treasury zero-coupon issues with a remaining term equal to the expected life of option grants. The assumptions used in the Black-Scholes single option pricing model for 2019 and 2018 were as follows. No options were granted in 2020.


	Year Ended December 31
	2020	2019	2018
Dividend yield	—%	3%	3%
Risk-free interest rate	—%	2%	2%
Stock volatility	—%	22%	23%
Average expected life (years)	—	6	6

A summary of option activity during 2020 is presented below:


	Shares	Weighted-Average Exercise Price
	(In thousands, except per share amounts)
Shares under option at December 31, 2019	8,048	$35.20
Granted	—	0.00
Exercised	(1,778)	27.41
Forfeited or expired	(1)	34.52
Shares under option at December 31, 2020	6,269	$37.40

Exercisable at December 31, 2020	5,801	$37.74

The weighted-average remaining contractual term of options outstanding and exercisable at December 31, 2020, is 4 years and 4 years, respectively. The aggregate intrinsic value of options outstanding and exercisable at December 31, 2020, is $77 million and $69 million, respectively. The weighted-average grant-date fair values of options granted during the years ended December 31, 2019, and 2018 were $7.88, and $6.95, respectively. The total intrinsic values of options exercised during the years ended December 31, 2020, 2019, and 2018, were $32 million, $15 million, and $36 million, respectively. Cash proceeds received from options exercised during the years ended December 31, 2020, 2019, and 2018, were $49 million, $27 million, and $55 million, respectively.

At December 31, 2020, unrecognized compensation expense related to option grants to be recognized as compensation expense during the next year was immaterial.

The Company’s 2020 Incentive Compensation Plan provides for the granting of restricted stock and restricted stock units (Restricted Stock Awards) at no cost to certain officers and key employees. In addition, the Company’s 2020 Incentive Compensation Plan also provides for the granting of performance stock units (PSUs) at no cost to certain officers and key employees. Restricted Stock Awards are made in common stock or stock units with equivalent rights and vest at the end of a restriction period of three years. The awards for PSUs are made in common stock units and vest at the end of a vesting period of three years subject to the attainment of certain future service and performance criteria based on the Company’s adjusted return on invested capital (ROIC), adjusted earnings before taxes, interest, and depreciation and amortization (EBITDA), and total shareholder return (TSR). During the years ended December 31, 2020, 2019, and 2018, 2.7 million, 2.6 million, and 2.5 million common stock or stock units, respectively, were granted as Restricted Stock Awards and PSUs. At December 31, 2020, there were 19.4 million shares available for future grants pursuant to the 2020 plan.

The fair value of Restricted Stock Awards is determined based on the market value of the Company’s shares on the grant date. The fair value of PSUs is based on the weighted-average values of adjusted ROIC, adjusted EBITDA, and TSR. The adjusted ROIC and adjusted EBITDA fair value is determined based on the market value of the Company’s shares on the grant date while the TSR fair value is determined using the Monte Carlo simulation. The weighted-average grant-date fair values of awards granted during the years ended December 31, 2020, 2019, and 2018 were $45.59, $42.11, and $42.72, respectively.

A summary of Restricted Stock Awards and PSUs activity during 2020 is presented below:


	Restricted Stock Awards and PSUs	Weighted Average Grant-Date Fair Value
	(In thousands, except per share amounts)
Non-vested at December 31, 2019	6,722	$42.97
Granted	2,732	45.59
Vested	(1,417)	44.49
Forfeited	(665)	43.95
Non-vested at December 31, 2020	7,372	$43.56

At December 31, 2020, there was $107 million of total unrecognized compensation expense related to Restricted Stock Awards and PSUs. Amounts to be recognized as compensation expense during the next three years are $67 million, $34 million, and $6 million, respectively. The total grant-date fair value of Restricted Stock Awards that vested during the year ended December 31, 2020 was $63 million.

Compensation expense for option grants, Restricted Stock Awards, and PSUs granted to employees is generally recognized on a straight-line basis during the service period of the respective grant. Certain of the Company’s option grants, Restricted Stock Awards, and PSUs continue to vest upon the recipient’s retirement from the Company and compensation expense related to option grants and Restricted Stock Awards granted to retirement-eligible employees is recognized in earnings on the date of grant. Compensation expense for PSUs is based on the probability of meeting the performance criteria. The Company recognizes forfeitures as they occur.

Total compensation expense for option grants, Restricted Stock Awards, and PSUs recognized during the years ended December 31, 2020, 2019, and 2018 was $151 million, $89 million, and $109 million, respectively. Changes in incentive compensation expense are primarily caused by the level of attainment of the PSU performance criteria described above.

Other (Income) Expense - Net

12 Months Ended

Dec. 31, 2020

Other Income and Expenses [Abstract]

Other (Income) Expense - Net

Other (Income) Expense – Net

The following table sets forth the items in other (income) expense:


(In millions)	Year Ended December 31
	2020		2019		2018


(Gain) loss on sales of assets and businesses	$	(161)	$	39	$	(43)
Pension settlement	—		—		117




Other – net	(117)		(32)		27
	$	(278)	$	7	$	101

Individually significant items included in the table above are:

Gain on sales of assets for the year ended December 31, 2020 included a gain on the sale of a portion of the Company’s shares in Wilmar, an investment revaluation gain, and net gains on the sale of certain other assets and disposals of individually insignificant assets in the ordinary course of business. Gain (loss) on sales of assets for the year ended December 31, 2019 included a loss on the sale of the Company’s equity investment in CIP, partially offset by gains on the sale of certain other assets, and step-up gains on equity investments. Gain on sales of assets and businesses for the year ended December 31, 2018 included gains on the sale of the Company’s oilseeds operations in Bolivia and an equity investment.

Pension settlement for the year ended December 31, 2018 related to the purchase of a group annuity contract that irrevocably transferred the future benefit obligations and annuity administration for certain retirees under the Company’s ADM Retirement Plan.

Realized gains and losses on sales of available-for-sale marketable securities were immaterial for all periods presented.

Other - net for the year ended December 31, 2020 included the non-service components of net pension benefit income of $33 million, foreign exchange gains, and other income. Other - net for the year ended December 31, 2019 included other income and the non-service components of net pension benefit income of $15 million, partially offset by foreign exchange losses. Other - net for the year ended December 31, 2018 included foreign exchange losses partially offset by other income and the non-service components of net benefit income of $10 million.

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

The following table sets forth the geographic split of earnings before income taxes:


	Year Ended
(In millions)	December 31
	2020		2019		2018

United States	$	442	$	756	$	972
Foreign	1,441		832		1,088
	$	1,883	$	1,588	$	2,060

Significant components of income taxes are as follows:


(In millions)	Year Ended December 31
	2020		2019		2018
Current
Federal	$	(164)	$	37	$	96
State	4		11		25
Foreign	186		181		171
Deferred
Federal	41		47		(55)
State	(10)		1		(16)
Foreign	44		(68)		24
	$	101	$	209	$	245

Significant components of deferred tax liabilities and assets are as follows:


	December 31, 2020		December 31, 2019
	(In millions)
Deferred tax liabilities
Property, plant, and equipment	$	903	$	1,012
Intangibles	334		286
Right of use assets	223		220
Equity in earnings of affiliates	64		72
Inventory reserves	25		32
Debt exchange	53		80
Reserves and other accruals	195		20
Other	173		109
	$	1,970	$	1,831
Deferred tax assets
Pension and postretirement benefits	$	163	$	155

Lease liabilities	227		225
Stock compensation	80		62

Foreign tax loss carryforwards	470		411
Capital loss carryforwards	70		62
State tax attributes	79		74

Reserves and other accruals	42		—
Other	136		147
Gross deferred tax assets	1,267		1,136
Valuation allowances	(339)		(325)
Net deferred tax assets	$	928	$	811

Net deferred tax liabilities	$	1,042	$	1,020

The net deferred tax liabilities are classified as follows:




Noncurrent assets (foreign)	$	260	$	174
Noncurrent liabilities	(957)		(969)
Noncurrent liabilities (foreign)	(345)		(225)
	$	(1,042)	$	(1,020)

Reconciliation of the statutory federal income tax rate to the Company’s effective income tax rate on earnings is as follows:


	Year Ended
	December 31
	2020		2019		2018

Statutory rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal tax benefit	(0.3)		0.6		0.3
Foreign earnings taxed at rates other than the U.S. statutory rate	(4.5)		(0.9)		(1.5)
Foreign currency effects/remeasurement	(1.1)		0.7		(1.9)
Income tax adjustment to filed returns	(0.4)		0.2		(1.9)
Tax benefit on U.S. biodiesel credits	(3.3)		(7.5)		(2.3)
Tax benefit on U.S. railroad credits	(8.0)		(3.6)		—

Tax on Global Intangible Low Taxed Income (GILTI)	2.9		1.4		1.0
Tax benefit on Foreign Derived Intangible Income Deduction (FDII)	(0.1)		—		(1.0)


U.S. tax reform impacts	(0.3)		0.4		(1.1)
Other	(0.5)		0.9		(0.7)
Effective income tax rate	5.4	%	13.2	%	11.9	%

The effective tax rate for 2020 was impacted by changes in the geographic mix of earnings and U.S. tax credits, mainly the railroad maintenance tax credit, and GILTI. The effective tax rate for 2019 was impacted by U.S. tax credits, including the 2018 and 2019 biodiesel tax credit and the railroad maintenance tax credit, signed into law in December 2019. The effective tax rate for 2018 included the 2017 biodiesel tax credit recorded in the first quarter of 2018 and the additional true-up adjustments related to the 2017 U.S. tax reform, along with certain favorable discrete tax items.

The foreign rate differential was primarily due to lower tax rates from the Company’s operations in Switzerland, Asia, and the Caribbean. The Company’s foreign earnings, which were taxed at rates lower than the U.S. rate and generated from these jurisdictions, were 59%, 61%, and 56% of its foreign earnings before taxes in fiscal years 2020, 2019, and 2018, respectively.

Undistributed earnings of the Company’s foreign subsidiaries and corporate joint ventures were approximately $12.5 billion at December 31, 2020. Because these undistributed earnings continue to be indefinitely reinvested in foreign operations, no income taxes, other than the transition tax, the U.S. tax on undistributed Subpart F, and the minimum tax on GILTI, have been provided after the Tax Cuts and Jobs Act (the “Act”) was enacted on December 22, 2017. It is not practicable to determine the amount of unrecognized deferred tax liability related to any remaining undistributed earnings of foreign subsidiaries and corporate joint ventures not subject to the transition tax.

The Company has elected to pay the one-time transition tax on accumulated foreign earnings over eight years. As of December 31, 2020, the Company’s remaining transition tax liability was $164 million, which will be paid in installments through 2025

The Company incurred U.S. taxable income of $259 million, $105 million, and $101 million related to GILTI and deducted $12 million, $1 million, and $101 million related to FDII in fiscal years 2020, 2019, and 2018 respectively. The Company made an accounting policy election to treat GILTI as a period cost. The Company has recorded and will continue to record the impact of tax reform items as U.S. tax authorities issue Treasury Regulations and other guidance addressing tax reform-related changes. It is also reasonable to expect that global taxing authorities will be reviewing their current legislation for potential modifications in reaction to the implementation of the Act. The additional guidance, along with the potential for additional global tax legislation changes, may affect significant deductions and income inclusions and could have a material adverse effect on the Company’s net income or cash flow.

The Company had $470 million and $411 million of tax assets related to net operating loss carry-forwards of certain international subsidiaries at December 31, 2020 and 2019, respectively. As of December 31, 2020, approximately $357 million of these assets have no expiration date, and the remaining $113 million expire at various times through fiscal 2029. The annual usage of certain of these assets is limited to a percentage of taxable income of the respective foreign subsidiary for the year. The Company has recorded a valuation allowance of $197 million and $193 million against these tax assets at December 31, 2020 and 2019, respectively, due to the uncertainty of their realization.

The Company had $70 million and $62 million of tax assets related to foreign capital loss carryforwards at December 31, 2020 and 2019, respectively. The Company has recorded a valuation allowance of $70 million and $62 million against these tax assets at December 31, 2020 and 2019, respectively.

The Company had $79 million and $74 million of tax assets related to state income tax attributes (incentive credits and net operating loss carryforwards), net of federal tax benefit, at December 31, 2020 and 2019, the majority of which will expire between 2021 and 2025. Due to the uncertainty of realization, the Company recorded a valuation allowance of $72 million and $70 million related to state income tax assets net of federal tax benefit as of December 31, 2020 and 2019, respectively.

The Company remains subject to federal examination in the U.S. for the calendar tax years 2016, 2017, 2018, 2019, and 2020.

The following table sets forth a rollforward of activity of unrecognized tax benefits for the year ended December 31, 2020 and 2019 as follows:


	Unrecognized Tax Benefits
	December 31, 2020		December 31, 2019
	(In millions)
Beginning balance	$	130	$	107
Additions related to current year’s tax positions	2		8
Additions related to prior years’ tax positions	37		—
Additions (adjustments) related to acquisitions	(1)		32
Reductions related to prior years’ tax positions	(3)		(14)
Reductions related to lapse of statute of limitations	(9)		(2)
Settlements with tax authorities	(5)		(1)
Ending balance	$	151	$	130

The additions and reductions in unrecognized tax benefits shown in the table included effects related to net income and shareholders’ equity. The changes in unrecognized tax benefits did not have a material effect on the Company’s net income or cash flow. At December 31, 2020 and 2019, the Company had accrued interest and penalties on unrecognized tax benefits of $33 million and $26 million, respectively.

The Company is subject to income taxation and routine examinations in many jurisdictions around the world and frequently faces challenges regarding the amount of taxes due. These challenges include positions taken by the Company related to the timing, nature, and amount of deductions and the allocation of income among various jurisdictions. In its routine evaluations of the exposure associated with various tax filing positions, the Company recognizes a liability, when necessary, for estimated potential tax owed by the Company in accordance with applicable accounting standards. Resolution of the related tax positions, through negotiations with relevant tax authorities or through litigation, may take years to complete. Therefore, it is difficult to predict the timing for resolution of tax positions and the Company cannot predict or provide assurance as to the ultimate outcome of these ongoing or future examinations. However, the Company does not anticipate that the total amount of unrecognized tax benefits will increase or decrease significantly in the next twelve months. Given the long periods of time involved in resolving tax positions, the Company does not expect that the recognition of unrecognized tax benefits will have a material impact on the Company’s effective income tax rate in any given period. If the total amount of unrecognized tax benefits were recognized by the Company at one time, there would be a reduction of $151 million on the tax expense for that period.

Between 2011 and 2019, the Company’s subsidiary in Argentina, ADM Agro SRL (formerly ADM Argentina SA and Alfred C. Toepfer Argentina SRL), received tax assessments challenging transfer prices used to price grain exports for the tax years 1999 through 2011. As of December 31, 2020, these assessments totaled $10 million in tax and up to $42 million in interest (adjusted for variation in currency exchange rates). The Argentine tax authorities conducted a review of income and other taxes paid by large exporters and processors of cereals and other agricultural commodities resulting in allegations of income tax evasion. The Company strongly believes that it has complied with all Argentine tax laws. To date, the Company has not received assessments for closed years subsequent to 2011. While the statute of limitations has expired for tax years 2012 and 2013, the Company cannot rule out receiving additional assessments challenging transfer prices used to price grain exports for years subsequent to 2013, and estimates that these potential assessments could be approximately $31 million in tax and $27 million in interest (adjusted for variation in currency exchange rates as of December 31, 2020). The Company believes that it has appropriately evaluated the transactions underlying these assessments, and has concluded, based on Argentine tax law, that its tax position would be sustained, and accordingly, has not recorded a tax liability for these assessments. In accordance with the accounting requirements for uncertain tax positions, the Company has not recorded an uncertain tax liability for this assessment because it has concluded that it is more likely than not to prevail on the matter based upon its technical merits and because the taxing jurisdiction’s process does not provide a mechanism for settling at less than the full amount of the assessment. The Company intends to vigorously defend its position against the current assessments and any similar assessments that may be issued for years subsequent to 2013.

In 2014, the Company’s wholly-owned subsidiary in the Netherlands, ADM Europe B.V., received a tax assessment from the Netherlands tax authority challenging the transfer pricing aspects of a 2009 business reorganization, which involved two of its subsidiary companies in the Netherlands. As of December 31, 2020, this assessment was $99 million in tax and $38 million in interest (adjusted for variation in currency exchange rates). In September 2019, the Company received an interim decision on its appeal which directed the parties to work toward a settlement. In April 2020, the court issued a ruling unfavorable to the Company and in October 2020, assigned a third party expert to establish a valuation by early 2021. Subsequent appeals may take an extended period of time and could result in additional financial impacts of up to the entire amount of the assessment. The Company has carefully evaluated the underlying transactions and has concluded that the amount of gain recognized on the reorganization for tax purposes was appropriate. As of December 31, 2020, the Company has accrued its best estimate of what it believes will be the likely outcome of the litigation and will vigorously defend its position against the assessment.

During the quarter ended June 30, 2020, the ongoing litigation between the Company’s wholly-owned subsidiary, ADM do Brasil Ltda., and the Brazilian Federal Revenue Service was favorably resolved without any tax due. The litigation related to assessments received with respect to the tax deductibility of commodity hedging losses and related expenses. The Company does not expect to receive any additional tax assessments with respect to this issue.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases of Lessee Disclosure [Text Block]

Leases

Lessee Accounting

The Company leases certain transportation equipment, plant equipment, office equipment, land, buildings, and storage facilities. Most leases include options to renew, with renewal terms that can extend the lease term from 10 months to 49 years. The renewal options are not included in the measurement of the right of use assets and lease liabilities unless the Company is reasonably certain to exercise the optional renewal periods. Certain leases also include index and non-index escalation clauses and options to purchase the leased property. Leases accounted for as finance leases were immaterial at December 31, 2020.

As an accounting policy election, the Company does not apply the recognition requirements of Topic 842 to short-term leases in all of its underlying asset categories. The Company recognizes short-term lease payments in earnings on a straight-line basis over the lease term, and variable lease payments in the period in which the obligation for those payments is incurred. The Company also combines lease and non-lease contract components in all of its underlying asset categories as an accounting policy election.

The following table sets forth the amounts relating to the Company’s total lease cost and other information.


	Year Ended
	December 31, 2020			December 31, 2019
	(In millions)
Lease cost:
Operating lease cost	$	315		$	275
Short-term lease cost	101			99
Total lease cost	$	416		$	374

Other information:
Operating lease liability principal payments	$	302		$	209
Right-of-use assets obtained in exchange for new operating lease liabilities	$	314		$	302

	December 31, 2020			December 31, 2019
Weighted-average remaining lease term - operating leases (in years)	7			7
Weighted average discount rate - operating leases	4.2		%	4.6		%

Below is a tabular disclosure of the future annual undiscounted cash flows for operating lease liabilities as of December 31, 2020.


	Undiscounted
	Cash Flows
	(In millions)
2021	$	302
2022	268
2023	218
2024	156
2025	95
Thereafter	260
Total	1,299

Less interest (1)	(175)
Lease liability	$	1,124

(1) Calculated using the implicit rate of the lease, if available, or the incremental borrowing rate that is appropriate for the tenor and geography of the lease.

Employee Benefit Plans

12 Months Ended

Dec. 31, 2020

Retirement Benefits [Abstract]

Employee Benefit Plans

The Company provides substantially all U.S. employees and employees at certain foreign subsidiaries with retirement benefits including defined benefit pension plans and defined contribution plans. The Company provides certain eligible U.S. employees who retire under qualifying conditions with subsidized postretirement health care coverage or Health Care Reimbursement Accounts.

In April 2019, the Company announced an enhanced early retirement program for some eligible employees in the U.S. and Canada. As a result, the Company recognized a pension remeasurement charge of $48 million in the second quarter of 2019. Employees electing to retire early were also given the option to receive their benefit in the form of a lump sum payment which resulted in a pension settlement charge of $51 million during the second half of 2019.

In October 2018, the Company amended the ADM Retirement Plan (the “Plan”) and entered into a binding agreement to purchase a group annuity contract from The Prudential Insurance Company of America (“Prudential”), irrevocably transferring the future benefit obligations and annuity administration for approximately 3,800 retirees from the Plan to Prudential. The purchase of the group annuity contract, which was funded directed by the Plan’s assets, was completed on November 2, 2018 and reduced the Company’s pension obligations by approximately $528 million. As a result of the transaction, the Company recognized a non-cash pension settlement charge of approximately $117 million in the fourth quarter of 2018.

On July 31, 2017, the Company announced that all participants in the Company’s U.S. salaried pension plan and the Supplemental Executive Retirement Plan (SERP) will begin accruing benefits under the cash balance formula effective January 1, 2022. Benefits for participants who were accruing under the final average pay formula will be frozen as of December 31, 2021, including pay and service through that date.

The Company maintains 401(k) plans covering substantially all U.S. employees. The Company contributes cash to the plans to match qualifying employee contributions, and also provides a non-matching employer contribution of 1% of pay to eligible participants. Under an employee stock ownership component of the 401(k) plans, employees may choose to invest in the Company’s stock as part of their own investment elections. The employer contributions are expensed when paid. Assets of the Company’s 401(k) plans consist primarily of listed common stocks and pooled funds. The Company’s 401(k) plans held 7 million shares of Company common stock at December 31, 2020, with a market value of $371 million. Cash dividends received on shares of Company common stock by these plans during the year ended December 31, 2020 were $11 million.

The following table sets forth the components of retirement plan expense for the years ended December 31, 2020, 2019, and 2018:


	Pension Benefits						Postretirement Benefits
(In millions)	Year Ended December 31						Year Ended December 31
	2020		2019		2018		2020		2019		2018
Retirement plan expense
Defined benefit plans:
Service cost (benefits earned during the period)	$	61	$	58	$	66	$	1	$	2	$	2
Interest cost	70		82		93		4		5		5
Expected return on plan assets	(126)		(115)		(146)		—		—		—
Settlement charges	—		96		117		—		3		—

Curtailments	—		—		(1)		—		—		—
Amortization of actuarial loss	38		26		55		6		4		3
Amortization of prior service cost (credit)	(19)		(19)		(19)		(13)		(15)		(15)
Net periodic defined benefit plan expense	24		128		165		(2)		(1)		(5)
Defined contribution plans	54		58		50		—		—		—
Total retirement plan expense	$	78	$	186	$	215	$	(2)	$	(1)	$	(5)

The following tables set forth changes in the defined benefit obligation and the fair value of defined benefit plan assets for the years ended December 31, 2020 and 2019:


	Pension Benefits				Postretirement Benefits
	December 31 2020		December 31 2019		December 31 2020		December 31 2019
	(In millions)				(In millions)
Benefit obligation, beginning	$	2,650	$	2,323	$	167	$	144
Service cost	61		58		1		2
Interest cost	70		82		4		5
Actuarial loss (gain)	285		363		17		24
Employee contributions	2		2		—		—

Business combinations	—		26		—		3
Settlements	(17)		35		—		3


Benefits paid	(84)		(249)		(14)		(14)
Plan amendments	—		(2)		—		—

Foreign currency effects	47		12		(2)		—
Benefit obligation, ending	$	3,014	$	2,650	$	173	$	167

Fair value of plan assets, beginning	$	2,018	$	1,736	$	—	$	—
Actual return on plan assets	317		348		—		—
Employer contributions	85		166		14		14
Employee contributions	2		2		—		—
Settlements	(18)		(10)		—		—
Business combinations	—		7		—		—

Benefits paid	(84)		(249)		(14)		(14)

Foreign currency effects	17		18		—		—
Fair value of plan assets, ending	$	2,337	$	2,018	$	—	$	—

Funded status	$	(677)	$	(632)	$	(173)	$	(167)

Prepaid benefit cost	$	29	$	38	$	—	$	—
Accrued benefit liability – current	(19)		(18)		(16)		(16)
Accrued benefit liability – long-term	(687)		(652)		(157)		(151)
Net amount recognized in the balance sheet	$	(677)	$	(632)	$	(173)	$	(167)

The actuarial loss in the pension plans in 2020 and 2019 is primarily due to declines in the global bond yield.

Included in AOCI for pension benefits at December 31, 2020, are the following amounts that have not yet been recognized in net periodic pension cost: unrecognized prior service credit of $113 million and unrecognized actuarial loss of $639 million.

Included in AOCI for postretirement benefits at December 31, 2020, are the following amounts that have not yet been recognized in net periodic postretirement benefit cost: unrecognized prior service credit of $2 million and unrecognized actuarial loss of $57 million.

The following table sets forth the principal assumptions used in developing net periodic benefit cost:

Pension Benefits

Postretirement Benefits

December 31
2020

December 31
2019

December 31
2020

December 31
2019

Discount rate

2.9%

3.9%

3.2%

4.3%

Expected return on plan assets

6.6%

6.5%

N/A

Rate of compensation increase

4.9%

N/A

Interest crediting rate

2.2%

3.3%

N/A

The following table sets forth the principal assumptions used in developing the year-end actuarial present value of the projected benefit obligations:


	Pension Benefits				Postretirement Benefits
	December 31 2020		December 31 2019		December 31 2020	December 31 2019
Discount rate	2.3	%	2.9	%	2.3%	3.2%
Rate of compensation increase	4.8	%	4.9	%	N/A	N/A
Interest crediting rate	2.0	%	2.2	%	N/A	N/A

The projected benefit obligation, accumulated benefit obligation, and fair value of plan assets for the pension plans with projected benefit obligations in excess of plan assets were $2.6 billion, $2.5 billion, and $1.9 billion, respectively as of December 31, 2020, and $2.3 billion, $2.2 billion, and $1.6 billion, respectively, as of December 31, 2019. The projected benefit obligation, accumulated benefit obligation, and fair value of plan assets for the pension plans with accumulated benefit obligations in excess of plan assets were $2.6 billion, $2.5 billion, and $1.9 billion, respectively, as of December 31, 2020 and $2.2 billion, $2.1 billion, and $1.5 billion, respectively, as of December 31, 2019. The accumulated benefit obligation for all pension plans as of December 31, 2020 and 2019, was $2.9 billion and $2.6 billion, respectively.

For postretirement benefit measurement purposes, a 6.1% annual rate of increase in the per capita cost of covered health care benefits was assumed for the year ended December 31, 2020. The rate was assumed to decrease gradually to 4.5% by 2029 and remain at that level thereafter.

Plan Assets

The Company’s employee benefit plan assets are principally comprised of the following types of investments:

Common stock:

Equity securities are valued based on quoted exchange prices and are classified within Level 1 of the valuation hierarchy.

Mutual funds:

Mutual funds are valued at the closing price reported on the active market on which they are traded and are classified within Level 1 of the valuation hierarchy.

Common collective trust (CCT) funds:

The fair values of the CCTs are valued using net asset value (NAV). The investments in CCTs are comprised of international equity and short-term investments. The investments are valued at NAV provided by administrators of the funds.

Corporate debt instruments:

Corporate debt instruments are valued using third-party pricing services and are classified within Level 2 of the valuation hierarchy.

U.S. Treasury instruments:

U.S. Treasury instruments are valued at the closing price reported on the active market on which they are traded and are classified within Level 1 of the valuation hierarchy.

U.S. government agency, state, and local government bonds:

U.S. government agency obligations and state and municipal debt securities are valued using third-party pricing services and are classified within Level 2 of the valuation hierarchy.

The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Company believes its valuation methods are appropriate and consistent with other market participants’ methods, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

The following tables set forth, by level within the fair value hierarchy, the fair value of plan assets as of December 31, 2020 and 2019.


	Fair Value Measurements at December 31, 2020
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
	(In millions)
Common stock	$	251	$	—	$	—	$	251


Mutual funds	666		—		—		666









Corporate bonds	—		328		—		328
U.S. Treasury instruments	345		—		—		345
U.S. government agency, state and local government bonds	—		4		—		4
Other	—		9		—		9
Total assets	$	1,262	$	341	$	—	$	1,603

Common collective trust funds at NAV
U.S. equity							418
International equity							316
Total assets at fair value							$	2,337


	Fair Value Measurements at December 31, 2019
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
	(In millions)
Common stock	$	187	$	—	$	—	$	187


Mutual funds	575		—		—		575










Corporate bonds	—		249		—		249
U.S. Treasury instruments	322		—		—		322
U.S. government agency, state and local government bonds	—		4		—		4
Other	—		9		—		9
Total assets	$	1,084	$	262	$	—	$	1,346

Common collective trust funds at NAV
U.S. equity							391
International equity							281
Total assets at fair value							$	2,018

Level 3 Gains and Losses:

There are no Plan assets classified as Level 3 in the fair value hierarchy; therefore there are no gains or losses associated with Level 3 assets.

The following table sets forth the actual asset allocation for the Company’s global pension plan assets as of the measurement date:


	December 31 2020(1)(2)	December 31 2019(2)
Equity securities	54%	53%
Debt securities	35%	36%
Other	11%	11%
Total	100%	100%

(1)The Company’s U.S. pension plans contain approximately 75% of the Company’s global pension plan assets. The actual asset allocation for the Company’s U.S. pension plans as of the measurement date consists of 60% equity securities and 40% debt. The target asset allocation for the Company’s U.S. pension plans is approximately the same as the actual asset allocation. The actual asset allocation for the Company’s foreign pension plans as of the measurement date consists of 36% equity securities, 20% debt securities, and 44% in other investments. The target asset allocation for the Company’s foreign pension plans is approximately the same as the actual asset allocation.

(2)The Company’s pension plans did not directly hold any shares of Company common stock as of the December 31, 2020 and 2019 measurement dates.

Investment objectives for the Company’s plan assets are to:

•Optimize the long-term return on plan assets at an acceptable level of risk.

•Maintain a broad diversification across asset classes and among investment managers.

•Maintain careful control of the risk level within each asset class.

Asset allocation targets promote optimal expected return and volatility characteristics given the long-term time horizon for fulfilling the obligations of the pension plans. Selection of the targeted asset allocation for plan assets was based upon a review of the expected return and risk characteristics of each asset class, as well as the correlation of returns among asset classes. The U.S. pension plans target asset allocation is also based on an asset and liability study that is updated periodically.

Investment guidelines are established with each investment manager. These guidelines provide the parameters within which the investment managers agree to operate, including criteria that determine eligible and ineligible securities, diversification requirements, and credit quality standards, where applicable. In some countries, derivatives may be used to gain market exposure in an efficient and timely manner; however, derivatives may not be used to leverage the portfolio beyond the market value of underlying investments.

The Company uses external consultants to assist in monitoring the investment strategy and asset mix for the Company’s plan assets. To develop the Company’s expected long-term rate of return assumption on plan assets, the Company generally uses long-term historical return information for the targeted asset mix identified in asset and liability studies. Adjustments are made to the expected long-term rate of return assumption when deemed necessary based upon revised expectations of future investment performance of the overall investment markets.

Contributions and Expected Future Benefit Payments

Based on actuarial calculations, the Company expects to contribute $29 million to the pension plans and $16 million to the postretirement benefit plan during 2021. The Company may elect to make additional discretionary contributions during this period.

The following benefit payments, which reflect expected future service, are expected to be paid by the benefit plans:


	Pension Benefits		Postretirement Benefits
	(In millions)
2021	$	84	$	16
2022	90		15
2023	96		14
2024	101		14
2025	108		13
2026-2030	620		50

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Shareholders' Equity

12 Months Ended

Dec. 31, 2020

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Shareholders' Equity

Shareholders’ EquityThe Company has authorized one billion shares of common stock and 500,000 shares of preferred stock, each with zero par value. No preferred stock has been issued. At December 31, 2020 and 2019, the Company had approximately 160.0 million shares and 158.8 million shares, respectively, of its common shares in treasury. Treasury stock of $5.2 billion and $5.3 billion at December 31, 2020 and 2019, respectively, is recorded at cost as a reduction of common stock, and treasury stock of $0.3 billion and $0.1 billion at December 31, 2020 and 2019, respectively, is recorded at cost as a reduction of retained earnings.

The following tables set forth the changes in AOCI by component and the reclassifications out of AOCI for the years ended December 31, 2020 and 2019:


	Foreign Currency Translation Adjustment		Deferred Gain (Loss) on Hedging Activities		Pension and Other Postretirement Benefit Liabilities Adjustment		Unrealized Gain (Loss) on Investments		Accumulated Other Comprehensive Income (Loss)
					(In millions)
Balance at December 31, 2018	$	(1,962)	$	61	$	(220)	$	15	$	(2,106)
Other comprehensive income before reclassifications	(220)		(191)		(89)		14		(486)
Gain (loss) on net investment hedges	35		—		—		—		35
Amounts reclassified from AOCI	7		100		(9)		(1)		97
Tax effect	(12)		18		50		(1)		55
Net of tax amount	(190)		(73)		(48)		12		(299)
Balance at December 31, 2019	$	(2,152)	$	(12)	$	(268)	$	27	$	(2,405)
Other comprehensive income before reclassifications	29		209		(120)		(27)		91
Gain (loss) on net investment hedges	(398)		—		—		—		(398)
Amounts reclassified from AOCI	—		45		7		—		52
Tax effect	97		(57)		16		—		56
Net of tax amount	(272)		197		(97)		(27)		(199)
Balance at December 31, 2020	$	(2,424)	$	185	$	(365)	$	—	$	(2,604)

The change in foreign currency translation adjustment in 2020 is primarily due to net investment hedges as discussed in Note 5 while the change in foreign currency translation adjustment in 2019 is primarily due to the U.S. dollar appreciation, impacting the Euro-denominated equities of the Company’s foreign subsidiaries.


	Amounts reclassified from AOCI Year Ended December 31						Affected line item in the consolidated statement of
Details about AOCI components	2020		2019		2018		earnings
	(In millions)
Foreign currency translation adjustment
	$	—	$	7	$	(1)	Other income/expense
	—		—		—		Tax
	$	—	$	7	$	(1)	Net of tax

Deferred loss (gain) on hedging activities
	$	(27)	$	11	$	113	Cost of products sold
	2		46		(36)		Other income/expense
	2		(1)		(1)		Interest expense
	68		44		—		Revenues
	45		100		76		Total before tax
	7		(13)		(18)		Tax on reclassifications
	$	52	$	87	$	58	Net of tax
Pension liability adjustment
Amortization of defined benefit pension items:
Prior service losses (credit)	$	(32)	$	(26)	$	(33)	Other (income) expense - net
Actuarial losses	39		17		65		Other (income) expense - net
	7		(9)		32		Total before tax
	(11)		18		(8)		Tax on reclassifications
	$	(4)	$	9	$	24	Net of tax
Unrealized loss (gain) on investments
	$	—	$	(1)	$	(2)	Other income/expense

	—		—		—		Tax on reclassifications
	$	—	$	(1)	$	(2)	Net of tax

Segment and Geographic Information

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment And Geographic Information

Segment and Geographic Information

As discussed in Note 1, prior period results have been reclassified to conform to the current period segment presentation.

The Company’s operations are organized, managed, and classified into three reportable business segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition. Each of these segments is organized based upon the nature of products and services offered. The Company’s remaining operations are not reportable segments, as defined by the applicable accounting standard, and are classified as Other Business.

The Ag Services and Oilseeds segment includes global activities related to the origination, merchandising, transportation, and storage of agricultural raw materials, and the crushing and further processing of oilseeds such as soybeans and soft seeds (cottonseed, sunflower seed, canola, rapeseed, and flaxseed) into vegetable oils and protein meals. Oilseeds products produced and marketed by the segment include ingredients for food, feed, energy, and industrial customers. Crude vegetable oils produced by the segment’s crushing activities are sold “as is” to manufacturers of renewable green diesel and other customers or are further processed by refining, blending, bleaching, and deodorizing into salad oils. Salad oils are sold “as is” or are further processed by hydrogenating and/or interesterifying into margarine, shortening, and other food products. Partially refined oils are used to produce biodiesel and glycols or are sold to other manufacturers for use in chemicals, paints, and other industrial products. Oilseed protein meals are principally sold to third parties to be used as ingredients in commercial livestock and poultry feeds. The Ag Services and Oilseeds segment is also a major supplier of peanuts and peanut-derived ingredients to both the U.S. and export markets. In North America, cotton cellulose pulp is manufactured and sold to the chemical, paper, and other industrial markets. The Ag Services and Oilseeds segment’s grain sourcing, handling, and transportation network (including barge, ocean-going vessel, truck, rail, and container freight services) provides reliable and efficient services to the Company’s customers and agricultural processing operations. The Ag Services and Oilseeds segment also includes agricultural commodity and feed product import, export, and global distribution, and structured trade finance activities. Structured trade finance’s activities include programs under which ADM prepays financial institutions, on a discounted basis, U.S. dollar-denominated letters of credit based on underlying commodity trade flows. This segment also includes the Company’s share of the results of its equity investment in Wilmar and its share of the results of its Pacificor, Stratas Foods LLC, Edible Oils Limited, Olenex Sarl, and SoyVen joint ventures. In August 2020, the Company sold a portion of its shares in Wilmar, decreasing its ownership interest from 24.8% as of December 31, 2019 to 22.2% as of December 31, 2020.

The Carbohydrate Solutions segment is engaged in corn and wheat wet and dry milling and other activities. The Carbohydrate Solutions segment converts corn and wheat into products and ingredients used in the food and beverage industry including sweeteners, corn and wheat starches, syrup, glucose, wheat flour, and dextrose. Dextrose and starch are used by the Carbohydrate Solutions segment as feedstocks in other downstream processes. By fermentation of dextrose, the Carbohydrate Solutions segment produces alcohol and other food and animal feed ingredients. Ethyl alcohol is produced by the Company for industrial use in products such as hand sanitizers, as ethanol, or as beverage grade. Ethanol, in gasoline, increases octane and is used as an extender and oxygenate. Corn gluten feed and meal, as well as distillers’ grains, are produced for use as animal feed ingredients. Corn germ, a by-product of the wet milling process, is further processed into vegetable oil and protein meal. Other Carbohydrate Solutions products include citric acids which are used in various food and industrial products. This segment also includes the Company’s share of the results of its equity investments in Hungrana Ltd., Almidones Mexicanos S.A., Red Star Yeast Company, LLC, and Aston Foods and Food Ingredients.

The Nutrition segment serves various end markets including food, beverages, nutritional supplements, and feed and premix for livestock, aquaculture, and pet food. The segment engages in the manufacturing, sale, and distribution of a wide array of ingredients and solutions including plant-based proteins, natural flavors, flavor systems, natural colors, emulsifiers, soluble fiber, polyols, hydrocolloids, probiotics, prebiotics, enzymes, botanical extracts, and other specialty food and feed ingredients. The Nutrition segment includes the activities related to the procurement, processing, and distribution of edible beans. The segment also includes activities related to the processing and distribution of formula feeds and animal health and nutrition products and the manufacture of contract and private label pet treats and foods. In January 2020, ADM acquired Yerbalatina, a natural plant-based extracts and ingredients manufacturer. In October 2020, the Company formally launched PlantPlus Foods, a 30% joint venture with Marfrig, one of the world’s leading beef producers and the world’s largest beef patty producer, that will offer a wide range of finished plant-based food products across North and South America, and entered into an agreement with Spiber Inc. (Spiber) to expand the production of Spiber’s innovative Brewed Protein™ polymers for use in apparel and other consumer products..

Other Business includes the Company’s financial business units related to futures commission and insurance activities.

Intersegment sales have been recorded at amounts approximating market. Operating profit for each segment is based on net sales less identifiable operating expenses. Also included in operating profit for each segment is equity in earnings of affiliates based on the equity method of accounting. Specified items included in total segment operating profit and certain corporate items are not allocated to the Company’s individual business segments because operating performance of each business segment is evaluated by management exclusive of these items. Corporate results principally include the impact of LIFO-related adjustments, unallocated corporate expenses, interest cost net of investment income, the results of early-stage start-up companies that ADM Ventures has investments in, and the Company’s share of the results of its equity investment in CIP, which was sold in December 2019.

Segment Information


	Year Ended
(In millions)	December 31
	2020		2019		2018
Gross revenues

Ag Services and Oilseeds	$	55,667	$	54,633	$	56,591
Carbohydrate Solutions	9,423		11,154		11,421
Nutrition	5,959		5,786		3,836
Other	367		352		381
Intersegment elimination	(7,061)		(7,269)		(7,888)
Total	$	64,355	$	64,656	$	64,341

Intersegment revenues

Ag Services and Oilseeds	$	5,951	$	5,892	$	6,700
Carbohydrate Solutions	951		1,268		1,142
Nutrition	159		109		46

Total	$	7,061	$	7,269	$	7,888

Revenues from external customers






Ag Services and Oilseeds
Ag Services	$	32,726	$	31,705	$	31,766
Crushing	9,593		9,479		10,319
Refined Products and Other	7,397		7,557		7,806
Total Ag Services and Oilseeds	49,716		48,741		49,891

Carbohydrate Solutions
Starches and Sweeteners	6,387		6,854		6,922
Vantage Corn Processors	2,085		3,032		3,357
Total Carbohydrate Solutions	8,472		9,886		10,279

Nutrition
Human Nutrition	2,812		2,745		2,571
Animal Nutrition	2,988		2,932		1,219
Total Nutrition	5,800		5,677		3,790


Other	367		352		381

Total	$	64,355	$	64,656	$	64,341


	Year Ended
(In millions)	December 31
	2020		2019		2018
Depreciation

Ag Services and Oilseeds	$	351	$	361	$	372
Carbohydrate Solutions	305		320		328
Nutrition	114		113		80
Other	6		6		6
Corporate	27		27		26
Total	$	803	$	827	$	812

Long-lived asset abandonments and write-downs(1)

Ag Services and Oilseeds	$	8	$	130	$	40
Carbohydrate Solutions	—		1		—
Nutrition	13		—		11
Corporate	7		—		49
Total	$	28	$	131	$	100

Interest income

Ag Services and Oilseeds	$	39	$	51	$	45
Carbohydrate Solutions	—		—		1
Nutrition	2		1		2
Other	40		125		100
Corporate	7		15		14
Total	$	88	$	192	$	162

Equity in earnings of affiliates

Ag Services and Oilseeds	$	475	$	378	$	421
Carbohydrate Solutions	81		60		62
Nutrition	22		17		17

Corporate	1		(1)		18
Total	$	579	$	454	$	518

(1) See Note 18 for total asset impairment, exit, and restructuring costs.


	Year Ended
(In millions)	December 31
	2020		2019		2018
Segment Operating Profit

Ag Services and Oilseeds	$	2,105	$	1,935	$	2,020
Carbohydrate Solutions	717		644		945
Nutrition	574		418		339
Other	52		85		58
Specified Items:
Gain on sales of assets and businesses(1)	83		12		13
Impairment, restructuring, exit, and settlement charges(2)	(76)		(146)		(102)

Total segment operating profit	3,455		2,948		3,273
Corporate	(1,572)		(1,360)		(1,213)
Earnings before income taxes	$	1,883	$	1,588	$	2,060

(1) The gain in 2020 consisted of a gain on the sale of a portion of the Company’s shares in Wilmar and certain other assets. The gain in 2019 consisted of a gain on the sale of certain assets and a step-up gain on an equity investment. The gain in 2018 related to the sale of the Company’s oilseeds operations in Bolivia and certain other assets.

(2) The charges in 2020 related to the impairment of certain assets, restructuring, and settlement. The charges in 2019 primarily related to the impairment of certain assets. The charges in 2018 related to the impairment of certain assets, restructuring, and settlement.

.


(In millions)	December 31
	2020		2019
Investments in and advances to affiliates

Ag Services and Oilseeds	$	4,402	$	4,662
Carbohydrate Solutions	392		363
Nutrition	102		98

Corporate	17		9
Total	$	4,913	$	5,132

Identifiable assets

Ag Services and Oilseeds	$	24,792	$	21,397
Carbohydrate Solutions	5,963		6,032
Nutrition	8,652		8,622
Other	7,152		5,661
Corporate	3,160		2,285
Total	$	49,719	$	43,997

(In millions)	Year Ended December 31
	2020		2019
Gross additions to property, plant, and equipment

Ag Services and Oilseeds	$	261	$	271
Carbohydrate Solutions	251		275
Nutrition	149		166
Other	8		2
Corporate	148		103
Total	$	817	$	817

Geographic information: The following geographic data include revenues attributed to the countries based on the location of the subsidiary making the sale and long-lived assets based on physical location. Long-lived assets represent the net book value of property, plant, and equipment.


	Year Ended
(In millions)	December 31
	2020		2019		2018
Revenues
United States	$	25,986	$	27,509	$	28,726
Switzerland	13,819		13,016		12,911
Cayman Islands	3,958		4,374		5,724
Brazil	2,357		2,381		1,702
Mexico	2,244		2,068		1,627
Germany	1,979		2,026		2,179
Other Foreign	14,012		13,282		11,472
	$	64,355	$	64,656	$	64,341


(In millions)	December 31
	2020		2019
Long-lived assets
United States	$	6,329	$	6,488
Brazil	781		869
Other Foreign	2,841		2,749
	$	9,951	$	10,106

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Asset Impairment, Exit, and Restructuring Costs

12 Months Ended

Dec. 31, 2018

Restructuring, Settlement and Impairment Provisions [Abstract]

Asset Impairment, Exit, and Restructuring Costs

The following table sets forth the charges included in asset impairment, exit, and restructuring costs.


(In millions)	Year Ended December 31
	2020		2019		2018

Restructuring and exit costs (1)	$	26	$	161	$	29
Impairment charge - equity method investment(2)	—		—		12

Impairment charge - goodwill and other intangible assets (3)	26		11		9
Impairment charge - other long-lived assets (4)	28		131		121
Total asset impairment, exit, and restructuring costs	$	80	$	303	$	171

(1)Restructuring and exit costs for the year ended December 31, 2020 consisted of several individually insignificant restructuring charges totaling $17 million presented as specified items within segment operating profit and $9 million in Corporate. Restructuring and exit costs for the year ended December 31, 2019 consisted of restructuring and pension settlement and remeasurement charges of $159 million in Corporate primarily related to early retirement and reorganization initiatives and several individually insignificant restructuring charges presented as specified items within segment operating profit. Restructuring and exit costs for the year ended December 31, 2018 consisted of restructuring charges of $24 million in Corporate primarily related to the reorganization of IT services in Corporate and several individually insignificant restructuring charges presented as specified items within segment operating profit.

(2)Impairment charge - equity method investment consisted of an impairment charge on an equity investment presented as a specified item within segment operating profit.

(3)Impairment charge - goodwill and other intangible assets for the year ended December 31, 2020 consisted of $26 million of an intangible asset impairment in Ag Services and Oilseeds presented as specified items within segment operating profit. Impairment charge - goodwill and other intangible assets for the year ended December 31, 2019 consisted of goodwill and other intangible asset impairments in Ag Services and Oilseeds presented as specified items within segment operating profit. Impairment charge - goodwill and other intangible assets for the year ended December 31, 2018 consisted of an intangible asset impairment in Ag Services and Oilseeds presented as specified items within segment operating profit.

(4)Impairment charge - other long-lived assets for the year ended December 31, 2020 consisted of impairments related to certain long-lived assets in Ag Services and Oilseeds and Nutrition of $8 million and $13 million, respectively, presented as specified items within segment operating profit, and $7 million of impairments related to certain assets in Corporate. Impairment charge - other long-lived assets for the year ended December 31, 2019 consisted of $130 million of asset impairments related to certain facilities, vessels and other long-lived assets in Ag Services and Oilseeds and $1 million of asset impairments related to certain long-lived assets in Carbohydrate Solutions presented as specified items within segment operating profit. Impairment charge - other long-lived assets for the year ended December 31, 2018 consisted of $61 million of asset impairments related to a long-term receivable and certain long-lived assets in Ag Services and Oilseeds and $11 million of asset impairments related to certain long-lived assets in Nutrition presented as specified items within segment operating profit and a $49 million charge related to a discontinued software project in Corporate.

Sale of Accounts Receivable	12 Months Ended
Sale of Accounts Receivable	Dec. 31, 2019
Transfers and Servicing [Abstract]
Sale of Accounts Receivable	Sale of Accounts ReceivableThe Company has an accounts receivable securitization program (the “Program”) with certain commercial paper conduit purchasers and committed purchasers (collectively, the “First Purchasers”). Under the Program, certain U.S.-originated trade accounts receivable are sold to a wholly-owned bankruptcy-remote entity, ADM Receivables, LLC (“ADM Receivables”). Prior to October 1, 2020, ADM Receivables transferred such purchased accounts receivable in their entirety to the Purchasers pursuant to a receivables purchase agreement. In exchange for the transfer of the accounts receivable, ADM Receivables received a cash payment up to a certain amount and an additional amount upon the collection of the accounts receivable (deferred consideration). On October 1, 2020, the Company restructured the Program from a deferred purchase price to a pledge structure. Under the new structure, ADM Receivables transfers certain of the purchased accounts receivable to each of the First Purchasers together with a security interest in all of its right, title, and interest in the remaining purchased accounts receivable. In exchange, ADM Receivables receives a cash payment of up to $1.2 billion for the accounts receivables transferred. The Program terminates on May 18, 2021, unless extended. The Company also has an accounts receivable securitization program (the “Second Program”) with certain commercial paper conduit purchasers and committed purchasers (collectively, the “Second Purchasers”). Under the Second Program, certain non-U.S.-originated trade accounts receivable are sold to a wholly-owned bankruptcy-remote entity, ADM Ireland Receivables Company (ADM Ireland Receivables). Prior to April 1, 2020, ADM Ireland Receivables transferred such purchased accounts receivable in their entirety to the Second Purchasers pursuant to a receivables purchase agreement. In exchange for the transfer of the accounts receivable, ADM Ireland Receivables received a cash payment up to a certain amount and an additional amount upon the collection of the accounts receivable (deferred consideration). On April 1, 2020, the Company restructured the Second Program from a deferred purchase price to a pledge structure. Under the new structure, ADM Ireland Receivables transfers certain of the purchased accounts receivable to each of the Second Purchasers together with a security interest in all of its right, title, and interest in the remaining purchased accounts receivable. In exchange, ADM Ireland Receivables receives a cash payment of up to $0.6 billion (€0.5 billion) for the accounts receivables transferred. The Second Program terminates on March 12, 2021, unless extended. Under the First and Second Programs (collectively, the “Programs”), ADM Receivables and ADM Ireland Receivables use the cash proceeds from the transfer of receivables to the First Purchasers and Second Purchasers (collectively, the “Purchasers”) and other consideration, as applicable, to finance the purchase of receivables from the Company and the ADM subsidiaries originating the receivables. The Company accounts for these transfers as sales. The Company acts as a servicer for the transferred receivables. At December 31, 2020 and 2019, the Company did not record a servicing asset or liability related to its retained responsibility, based on its assessment of the servicing fee, market values for similar transactions, and its cost of servicing the receivables sold. As of December 31, 2020 and 2019, the fair value of trade receivables transferred to the Purchasers under the Programs and derecognized from the Company’s consolidated balance sheet was $1.6 billion and $1.9 billion, respectively. In exchange for the transfer as of December 31, 2020 and 2019, the Company received cash of $1.6 billion and $1.4 billion, respectively. The Company recorded a receivable for deferred consideration included in other current assets of $446 million as of December 31, 2019. Total receivables sold were $35.0 billion, $34.5 billion, and $35.7 billion for the years ended December 31, 2020, 2019, and 2018, respectively. Cash collections from customers on receivables sold were $34.2 billion, $33.8 billion, and $34.8 billion for the years ended December 31, 2020, 2019, and 2018, respectively. Of this amount, $6.7 billion, $13.1 billion, and $14.8 billion were cash collections on the deferred consideration reflected as cash inflows from investing activities for the years ended December 31, 2020, 2019, and 2018, respectively. As of December 31, 2020, $0.4 billion of receivables were pledged as collateral to the Purchasers. Under the Programs’ previous structure, the Company’s risk of loss following the transfer of accounts receivable was limited to the deferred receivables consideration outstanding. The Company carried the deferred receivables consideration at fair value determined by calculating the expected amount of cash to be received and was principally based on observable inputs (a Level 2 measurement under the applicable accounting standards) consisting mainly of the face amount of the receivables adjusted for anticipated credit losses and discounted at the appropriate market rate. Payment of deferred receivables consideration was not subject to significant risks other than delinquencies and credit losses on accounts receivable transferred under the Programs which had historically been insignificant. Transfers of receivables under the Programs during the years ended December 31, 2020, 2019, and 2018 resulted in an expense for the loss on sale of $9 million, $18 million, and $18 million, respectively, which is classified as selling, general, and administrative expenses in the consolidated statements of earnings. In accordance with the amended guidance of Topic 230, the Company reflects cash flows related to the deferred receivables consideration as investing activities in its consolidated statements of cash flows. All other cash flows are classified as operating activities because the cash received from the Purchasers upon both the sale and collection of the receivables is not subject to significant interest rate risk given the short-term nature of the Company’s trade receivables.

- Definition

The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows.

+ References

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+ Details

Legal Proceedings, Guarantees, and Commitments	12 Months Ended
Legal Proceedings, Guarantees, and Commitments	Dec. 31, 2020
Guarantees [Abstract]
Legal Proceedings, Guarantees, and Commitments	Legal Proceedings The Company is routinely involved in a number of actual or threatened legal actions, including those involving alleged personal injuries, employment law, product liability, intellectual property, environmental issues, alleged tax liability (see Note 13 for information on income tax matters), and class actions. The Company also routinely receives inquiries from regulators and other government authorities relating to various aspects of our business, and at any given time, the Company has matters at various stages of resolution. The outcomes of these matters are not within our complete control and may not be known for prolonged periods of time. In some actions, claimants seek damages, as well as other relief including injunctive relief, that could require significant expenditures or result in lost revenues. In accordance with applicable accounting standards, the Company records a liability in its consolidated financial statements for material loss contingencies when a loss is known or considered probable and the amount can be reasonably estimated. If the reasonable estimate of a known or probable loss is a range, and no amount within the range is a better estimate than any other, the minimum amount of the range is accrued. If a material loss contingency is reasonably possible but not known or probable, and can be reasonably estimated, the estimated loss or range of loss is disclosed in the notes to the consolidated financial statements. When determining the estimated loss or range of loss, significant judgment is required to estimate the amount and timing of a loss to be recorded. Estimates of probable losses resulting from litigation and governmental proceedings involving the Company are inherently difficult to predict, particularly when the matters are in early procedural stages, with incomplete facts or legal discovery; involve unsubstantiated or indeterminate claims for damages; potentially involve penalties, fines, disgorgement, or punitive damages; or could result in a change in business practice. On September 4, 2019, AOT Holding AG (AOT) filed a putative class action under the U.S. Commodities Exchange Act in federal district court in Urbana, Illinois, alleging that the Company sought to manipulate the benchmark price used to price and settle ethanol derivatives traded on futures exchanges. AOT alleges that members of the putative class suffered “hundreds of millions of dollars in damages” as a result of the Company’s alleged actions. On July 14, 2020, Green Plains Inc. and its related entities filed a putative class action lawsuit, alleging substantially the same operative facts, in federal court in Nebraska, seeking to represent all sellers of ethanol. On July 23, 2020, Midwest Renewable Energy, LLC filed a putative class action in federal court in Illinois alleging substantially the same operative facts and asserting claims under the Sherman Act. On November 11, 2020, six ethanol producers filed a lawsuit in federal court in Illinois alleging substantially the same facts and asserting claims under the Sherman Act and Illinois and Wisconsin law. The Company denies liability, and is vigorously defending itself in these actions. As these actions are in pretrial proceedings, the Company is unable at this time to predict the final outcome with any reasonable degree of certainty, but believes the outcome will not have a material adverse effect on its financial condition, results of operations, or cash flows. On September 5, 2019, D&M Farms, Mark Hasty, and Dustin Land filed a putative class action on behalf of a purported class of peanut farmers under the U.S. federal antitrust laws in federal court in Norfolk, Virginia, alleging that the Company’s subsidiary, Golden Peanut, and another peanut shelling company, conspired to fix the price they paid to farmers for raw peanuts. Plaintiffs subsequently added a third peanut shelling company to the case. Two defendants have reached preliminary settlements with the plaintiffs. On December 2, 2020, the district court certified the class. The Company denies liability and is vigorously defending itself, in this action. As this action is in pretrial proceedings, the Company is unable at this time to predict the final outcome with any reasonable degree of certainty, but believes the outcome will not have a material adverse effect on its financial condition, results of operations, or cash flows.

Quarterly Financial Data

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data

Quarterly Financial Data (Unaudited)


	Quarter Ended
	March 31		June 30		September 30		December 31		Year
	(In millions, except per share amounts)
Fiscal Year Ended December 31, 2020
Revenues	$	14,970	$	16,281	$	15,126	$	17,978	$	64,355
Gross Profit	951		1,108		1,042		1,352		4,453
Net Earnings Attributable to Controlling Interests	391		469		225		687		1,772
Basic Earnings Per Common Share	0.69		0.84		0.40		1.22		3.16
Diluted Earnings Per Common Share	0.69		0.84		0.40		1.22		3.15

Fiscal Year Ended December 31, 2019
Revenues	$	15,304	$	16,297	$	16,726	$	16,329	$	64,656
Gross Profit	928		972		1,078		1,169		4,147
Net Earnings Attributable to Controlling Interests	233		235		407		504		1,379
Basic Earnings Per Common Share	0.41		0.42		0.72		0.90		2.45
Diluted Earnings Per Common Share	0.41		0.42		0.72		0.90		2.44

Net earnings attributable to controlling interest for the first quarter of the year ended December 31, 2020 included after-tax charges of $32 million (equal to $0.06 per share) related to the impairment of certain assets and a tax expense adjustment of $7 million (equal to $0.01 per share) related to the U.S. tax reform and certain discrete items.

Net earnings attributable to controlling interest for the second quarter of the year ended December 31, 2020 included after-tax gains of $18 million (equal to $0.03 per share) related to the sale of certain assets, after-tax charges of $12 million (equal to $0.02 per share) related to the impairment of certain assets and restructuring, after-tax charges of $11 million (equal to $0.02 per share) related to the early repayment of debt, and a tax expense adjustment of $1 million (equal to $0.00 per share) related to the U.S. tax reform and certain discrete items.

Net earnings attributable to controlling interest for the third quarter of the year ended December 31, 2020 included after-tax gains of $54 million (equal to $0.10 per share) the sale of a portion of the Company’s shares in Wilmar shares and certain other assets, after-tax charges of $5 million (equal to $0.01 per share) related to the impairment of certain assets, restructuring, and a settlement, after-tax charges of $300 million (equal to $0.53 per share) related to the early repurchase of certain of the Company’s notes and debentures, after-tax charges of $15 million (equal to $0.03 per share) related to the mark-to-market adjustment of the conversion option of the exchangeable bonds issued in August 2020, and a tax expense adjustment of $8 million (equal to $0.02 per share) related to certain discrete items.

Net earnings attributable to controlling interest for the fourth quarter of the year ended December 31, 2020 included after-tax charges of $20 million (equal to $0.03 per share) related to the impairment of certain assets, restructuring, and a settlement, after-tax charges of $3 million (equal to $0.01 per share) related to a target acquisition, after-tax charges of $2 million (equal to $0.00 per share) related to the mark-to-market adjustment of the conversion option of the exchangeable bonds issued in August 2020, after-tax gains of $8 million (equal to $0.01 per share) related to the sale of certain assets, an after-tax gain of $1 million (equal to $0.00 per share) related to the early repayment of certain debt, and a tax benefit adjustment of $19 million (equal to $0.04 per share) related to certain discrete items.

Net earnings attributable to controlling interests for the first quarter of the year ended December 31, 2019 included after-tax gains of $9 million (equal to $0.02 per share) related to the sale of certain assets and a step-up gain on an equity investment; after-tax charges of $10 million (equal to $0.02 per share) related to the impairment of certain assets and restructuring; after-tax charges of $9 million (equal to $0.02 per share) related to the Neovia acquisition; and a tax expense adjustment of $17 million (equal to $0.03 per share) related to the U.S. tax reform and certain discrete items.

Net earnings attributable to controlling interests for the second quarter of the year ended December 31, 2019 included after-tax charges of $105 million (equal to $0.18 per share), related to the impairment of certain assets, restructuring, and pension remeasurement, and a tax benefit adjustment of $19 million (equal to $0.03 per share) related to the U.S. tax reform and certain discrete items.

Net earnings attributable to controlling interest for the third quarter of the year ended December 31, 2019 included after-tax charges of $41 million (equal to $0.08 per share) related to the impairment of certain assets, restructuring, and pension settlement, and a tax benefit adjustment of $5 million (equal to $0.01 per share) related to the U.S. tax reform and certain discrete items.

Net earnings attributable to controlling interest for the fourth quarter of the year ended December 31, 2019 included an after-tax loss of $133 million (equal to $0.24 per share), related to the sale of an equity investment; after-tax charges of $93 million (equal to $0.16 per share) related to impairment of certain assets, restructuring, and pension settlement; after-tax charges of $2 million (equal to $0.00 per share) related to certain acquisitions; and a tax expense adjustment of $46 million (equal to $0.08 per share) related to the U.S. tax reform and certain discrete items.

Valuation And Qualifying Accounts And Reserves

12 Months Ended

Dec. 31, 2020

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Valuation And Qualifying Accounts And Reserves


SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS AND RESERVES

	Beginning of					End of
(In millions)	Year Balance		Additions	Deductions (1)	Other (2)	Year Balance
Allowance for doubtful accounts
December 31, 2018	$	73	44	(26)	(7)	$	84
December 31, 2019	$	84	26	(19)	19	$	110
December 31, 2020	$	110	47	(66)	9	$	100

(1) Uncollectible accounts written off
(2) Impact of reclassifications, foreign exchange translation, and other adjustments

Summary Of Significant Accounting Policies (Policies)	12 Months Ended
Summary Of Significant Accounting Policies (Policies)	Dec. 31, 2020
Accounting Policies [Abstract]
Nature of Business	Nature of Business ADM unlocks the power of nature to provide access to nutrition worldwide. The Company is a global leader in human and animal nutrition and the world’s premier agricultural origination and processing company. ADM’s breadth, depth, insights, facilities and logistical expertise give the Company unparalleled capabilities to meet needs for food, beverages, health and wellness, and more. From the seed of the idea to the outcome of the solution, ADM enriches the quality of life the world over. The Company transforms natural products into staple foods, sustainable, renewable industrial products, and an expansive pantry of food and beverage ingredients and solutions for foods and beverages, supplements, nutrition for pets and livestock and more. And with an array of unparalleled capabilities across every part of the global food chain, ADM gives its customers an edge in solving global challenges of today and tomorrow. At ADM, sustainable practices and a focus on environmental responsibility are not separate from its primary business: they are integral to the work the Company does every day to serve customers and create value for shareholders. The Company is one of the world’s leading producers of ingredients for human and animal nutrition, and other products made from nature.
Principles Of Consolidation	Principles of ConsolidationThe consolidated financial statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated. The Company consolidates all entities, including variable interest entities (VIEs), in which it has a controlling financial interest. For VIEs, the Company assesses whether it is the primary beneficiary as defined under the applicable accounting standard. Investments in affiliates, including VIEs through which the Company exercises significant influence but does not control the investee and is not the primary beneficiary of the investee’s activities, are carried at cost plus equity in undistributed earnings since acquisition and are adjusted, where appropriate, for basis differences between the investment balance and the underlying net assets of the investee. The Company’s portion of the results of certain affiliates and results of certain VIEs are included using the most recent available financial statements. In each case, the financial statements are within 93 days of the Company’s year-end and are consistent from period to period.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect amounts reported in its consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
Reclassifications	Reclassifications Effective January 1, 2020, the Company started reporting its newly created dry mill ethanol subsidiary, Vantage Corn Processors (VCP), as a sub-segment within the Carbohydrate Solutions segment. VCP replaces the Bioproducts sub-segment which included the combined results of the Company’s corn dry and wet mill ethanol operations. The wet mill ethanol operations that were previously reported in Bioproducts are now included in the Starches and Sweeteners sub-segment. In addition to dry mill ethanol production, VCP sells/brokers ADM’s wet mill ethanol production as the sole marketer of ethanol produced at the Company’s facilities. The change does not have an impact on the total results of the Carbohydrate Solutions segment. Prior period information in Notes 2 and 17 has been reclassified to conform to the current period segment presentation.
Cash Equivalents	Cash Equivalents The Company considers all non-segregated, highly-liquid investments with a maturity of three months or less at the time of purchase to be cash equivalents.
Segregated Cash and Investments	Segregated Cash and Investments The Company segregates certain cash, cash equivalents, and investment balances in accordance with regulatory requirements, commodity exchange requirements, and insurance arrangements. These balances represent deposits received from customers of the Company’s registered futures commission merchant and commodity brokerage services, cash margins and securities pledged to commodity exchange clearinghouses, and cash pledged as security under certain insurance arrangements. Segregated cash and investments also include restricted cash collateral for the various insurance programs of the Company’s captive insurance business. To the degree these segregated balances are comprised of cash and cash equivalents, they are considered restricted cash and cash equivalents on the statement of cash flows.
Receivables	Receivables The Company records accounts receivable at net realizable value. This value includes an allowance for estimated uncollectible accounts of $100 million and $110 million at December 31, 2020 and 2019, respectively, to reflect any loss anticipated on the accounts receivable balances including any accrued interest receivables thereon. Long-term receivables recorded in other assets were not material to the Company’s overall receivables portfolio. Effective January 1, 2020, the Company adopted Accounting Standards Codification (ASC) Topic 326, Financial Instruments - Credit Losses (Topic 326), and developed a new methodology for estimating uncollectible accounts. Under this methodology, receivables are pooled according to type, region, credit risk rating, and age. Each pool is assigned an expected loss co-efficient to arrive at a general reserve based on historical write-offs adjusted, as needed, for regional, economic, and other forward-looking factors. The Company minimizes credit risk due to the large and diversified nature of its worldwide customer base. ADM manages its exposure to counter-party credit risk through credit analysis and approvals, credit limits, and monitoring procedures. The Company recorded bad debt expense in selling, general, and administrative expenses of $47 million, $23 million, and $26 million in the years ended December 31, 2020, 2019, and 2018, respectively.
Inventories	Inventories Inventories of certain merchandisable agricultural commodities, which include inventories acquired under deferred pricing contracts, are stated at market value. In addition, the Company values certain inventories using the first-in, first-out (FIFO) method at the lower of cost or net realizable value. Prior to January 1, 2020, the Company also valued certain of its agricultural commodity inventories using the last-in, first-out (LIFO) method at the lower of cost or net realizable value. Effective January 1, 2020, the Company changed the method of accounting for certain of its agricultural commodity inventories from the LIFO method to market value in the Ag Services and Oilseeds segment. As of December 31, 2019, inventories accounted for using LIFO at the lower of cost or net realizable value represented approximately 10% of consolidated inventories. The Company believes market value is preferable because it: (i) conforms to the inventory valuation methodology used for the majority of ADM’s agricultural commodity inventories; (ii) enhances the matching of inventory costs with revenues and better reflects the current cost of inventory on the Company’s balance sheet; and (iii) provides better comparability with the Company’s peers. The Company concluded that the accounting change does not have a material effect on prior periods’ financial statements and elected not to apply the change on a retrospective basis. As a result, the Company recorded a reduction in cost of products sold of $91 million ($69 million after tax, equal to $0.12 per diluted share) for the cumulative effect of the change in the three months ended March 31, 2020 with no impact to the statement of cash flows. The change did not have a material impact on the Company’s results for the year ended December 31, 2020. If the Company had not made the accounting change, the effect of LIFO valuation on ADM’s operating results would have been an increase in cost of goods sold of $147 million ($113 million after tax, equal to $0.20 per diluted share) in the year ended December 31, 2020, with no impact to the consolidated statement of cash flows.
Fair Value Measurements	Fair Value Measurements The Company determines fair value based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company uses the market approach valuation technique to measure the majority of its assets and liabilities carried at fair value. Three levels are established within the fair value hierarchy that may be used to report fair value: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Observable inputs, including Level 1 prices that have been adjusted; quoted prices for similar assets or liabilities; quoted prices in markets that are less active than traded exchanges; and other inputs that are observable or can be substantially corroborated by observable market data. Level 3: Unobservable inputs that are supported by little or no market activity and that are a significant component of the fair value of the assets or liabilities. In evaluating the significance of fair value inputs, the Company generally classifies assets or liabilities as Level 3 when their fair value is determined using unobservable inputs that individually or when aggregated with other unobservable inputs, represent more than 10% of the fair value of the assets or liabilities. Judgment is required in evaluating both quantitative and qualitative factors in the determination of significance for purposes of fair value level classification. Level 3 amounts can include assets and liabilities whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as assets and liabilities for which the determination of fair value requires significant management judgment or estimation. Based on historical experience with the Company’s suppliers and customers, the Company’s own credit risk and knowledge of current market conditions, the Company does not view nonperformance risk to be a significant input to fair value for the majority of its forward commodity purchase and sale contracts. However, in certain cases, if the Company believes the nonperformance risk to be a significant input, the Company records estimated fair value adjustments, and classifies the measurement in Level 3. In many cases, a valuation technique used to measure fair value includes inputs from multiple levels of the fair value hierarchy. The lowest level of input that is a significant component of the fair value measurement determines the placement of the entire fair value measurement in the hierarchy. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the classification of fair value assets and liabilities within the fair value hierarchy levels. The Company’s policy regarding the timing of transfers between levels, including both transfers into and transfers out of Level 3, is to measure and record the transfers at the end of the reporting period.
Derivatives	Derivatives The Company recognizes all of its derivative instruments as either assets or liabilities at fair value in its consolidated balance sheet. Unrealized gains are reported as other current assets and unrealized losses are reported as accrued expenses and other payables. The accounting for changes in the fair value (i.e., gains or losses) of a derivative instrument depends on whether it has been designated and qualifies as part of a hedging relationship and on the type of hedging relationship. The majority of the Company’s derivatives have not been designated as hedging instruments, and as such, changes in fair value of these derivatives are recognized in earnings immediately. For those derivative instruments that are designated and qualify as hedging instruments, the Company designates the hedging instrument, based upon the exposure being hedged, as a fair value hedge, a cash flow hedge, or a net investment hedge. For derivative instruments that are designated and qualify as highly-effective cash flow hedges (i.e., hedging the exposure to variability in expected future cash flows that is attributable to a particular risk), the gain or loss on the derivative instrument is reported as a component of accumulated other comprehensive income (loss) (AOCI) and as an operating activity in the statement of cash flows and reclassified into earnings in the same line item affected by the hedged transaction and in the same period or periods during which the hedged transaction affects earnings. Hedge components excluded from the assessment of effectiveness and gains and losses related to discontinued hedges are recognized in the consolidated statement of earnings during the current period. For derivative instruments that are designated and qualify as fair value hedges, changes in the fair value of the hedging instrument and changes in the fair value of the hedged item are recognized in the consolidated statement of earnings during the current period. For derivative instruments that are designated and qualify as net investment hedges, foreign exchange gains and losses related to changes in foreign currency exchange rates are deferred in AOCI until the underlying investment is divested.
Property, Plant, and Equipment	Property, Plant, and Equipment Property, plant, and equipment is recorded at cost. Repair and maintenance costs are expensed as incurred. The Company generally uses the straight-line method in computing depreciation for financial reporting purposes and generally uses accelerated methods for income tax purposes. The annual provisions for depreciation have been computed principally in accordance with the following ranges of asset lives: buildings - 15 to 40 years; machinery and equipment - 3 to 40 years. The Company capitalized interest on major construction projects in progress of $14 million, $15 million, and $21 million for the years ended December 31, 2020, 2019, and 2018, respectively.
Income Taxes	Income Taxes The Company accounts for income taxes in accordance with the liability method. Deferred tax assets and liabilities are recorded for temporary differences between the tax basis of assets and liabilities and reported amounts in the consolidated financial statements using statutory rates in effect for the year in which the differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recorded in the results of operations in the period that includes the enactment date under the law. Applicable accounting standards prescribe a minimum threshold a tax position is required to meet before being recognized in the consolidated financial statements. The Company recognizes in its consolidated financial statements tax positions determined more likely than not to be sustained upon examination, based on the technical merits of the position. The Company classifies interest on income tax-related balances as interest expense and classifies tax-related penalties as selling, general, and administrative expenses.
Goodwill and other intangible assets	Goodwill and other intangible assets Goodwill and other intangible assets deemed to have indefinite lives are not amortized but are subject to annual impairment tests. Definite-lived intangible assets, including capitalized expenses related to the Company’s 1ADM program, are amortized over their estimated useful lives of 1 to 50 years and are reviewed for impairment whenever there are indicators that the carrying value of the assets may not be fully recoverable. The Company’s accounting policy is to evaluate goodwill and other intangible assets with indefinite lives for impairment on October 1 of each fiscal year or whenever there are indicators that the carrying value of the assets may not be fully recoverable. The Company recorded impairment charges totaling $26 million related to customer lists, $11 million related to goodwill and intangibles, and $9 million related customer lists during the years ended December 31, 2020, 2019, and 2018, respectively (see Note 9 for additional information).
Asset Abandonments and Write-Downs	Asset Abandonments and Write-DownsThe Company evaluates long-lived assets for impairment whenever indicators of impairment exist. In addition, assets are written down to fair value after consideration of the Company’s ability to utilize the assets for their intended purpose, employ the assets in alternative uses, or sell the assets to recover the carrying value. Fair value is generally based on discounted cash flow analysis which relies on management’s estimate of market participant assumptions or estimated selling price for assets considered held for sale (a Level 3 measurement under applicable accounting standards). During 2020, the Company temporarily idled certain of its corn processing assets where ethanol is produced and performed a quantitative impairment assessment of those assets, resulting in no impairment charges. The total carrying value of the temporarily idled assets as of December 31, 2020 was immaterial. During the years ended December 31, 2020, 2019, and 2018, asset abandonment and impairment charges were $28 million, $131 million, and $100 million, respectively.
Payables to Brokerage Customers	Payables to Brokerage CustomersPayables to brokerage customers represent the total of customer accounts at the Company’s futures commission merchant with credit or positive balances. Customer accounts are used primarily in connection with commodity transactions and include gains and losses on open commodity trades as well as securities and other deposits made for margins or other purposes as required by the Company or the exchange-clearing organizations or counterparties. Payables to brokerage customers have a corresponding balance in segregated cash and investments and customer omnibus receivable in other current assets.
Revenues	Revenues The Company follows a policy of recognizing revenue at a single point in time when it satisfies its performance obligation by transferring control over a product or service to a customer. For transportation service contracts, the Company recognizes revenue over time as the barge, ocean-going vessel, truck, rail, or container freight moves towards its destination in accordance with the transfer of control guidance of ASC Topic 606, Revenue from Contracts with Customers (“Topic 606”). For physically settled derivative sales contracts that are outside the scope of Topic 606, the Company recognizes revenue when control of the inventory is transferred within the meaning of Topic 606 as required by ASC 610-20, Gains and Losses from the Derecognition of Nonfinancial Assets (“Topic 610-20”). Revenue Recognition The Company principally generates revenue from merchandising and transporting agricultural commodities and manufactured products used as ingredients in food, feed, energy, and industrial products. Revenue is measured based on the consideration specified in the contract with a customer, and excludes any sales incentives and amounts collected on behalf of third parties. The Company follows a policy of recognizing revenue at a single point in time when it satisfies its performance obligation by transferring control over a product or service to a customer. The majority of the Company’s contracts with customers have one performance obligation and a contract duration of one year or less. The Company applies the practical expedient in paragraph 10-50-14 of Topic 606 and does not disclose information about remaining performance obligations that have original expected durations of one year or less. For transportation service contracts, the Company recognizes revenue over time as the barge, ocean-going vessel, truck, rail, or container freight moves towards its destination in accordance with the transfer of control guidance of Topic 606. The Company recognized revenue from transportation service contracts of $423 million, $515 million, and $481 million for the years ended December 31, 2020, 2019, and 2018, respectively. For physically settled derivative sales contracts that are outside the scope of Topic 606, the Company recognizes revenue when control of the inventory is transferred within the meaning of Topic 606 as required by ASC 610-20. Shipping and Handling Costs Shipping and handling costs related to contracts with customers for the sale of goods are accounted for as a fulfillment activity and are included in cost of products sold. Accordingly, amounts billed to customers for such costs are included as a component of revenues. Taxes Collected from Customers and Remitted to Governmental Authorities The Company does not include taxes assessed by governmental authorities that are (i) imposed on and concurrent with a specific revenue-producing transaction and (ii) collected from customers, in the measurement of transactions prices or as a component of revenues and cost of products sold.
Stock Compensation	Stock Compensation The Company recognizes expense for its stock compensation based on the fair value of the awards that are granted. The Company’s stock compensation plans provide for the granting of restricted stock, restricted stock units, performance stock units, and stock options. The fair values of stock options and performance stock units are estimated at the date of grant using the Black-Scholes option valuation model and a lattice valuation model, respectively. These valuation models require the input of subjective assumptions. Measured compensation cost, net of forfeitures, is recognized ratably over the vesting period of the related stock compensation award.
Research and Development	Research and Development Costs associated with research and development are expensed as incurred. Such costs incurred, net of expenditures subsequently reimbursed by government grants, were $160 million, $154 million, and $141 million for the years ended December 31, 2020, 2019, and 2018, respectively.
Per Share Data	Per Share Data Basic earnings per common share are determined by dividing net earnings attributable to controlling interests by the weighted average number of common shares outstanding. In computing diluted earnings per share, average number of common shares outstanding is increased by common stock options outstanding with exercise prices lower than the average market price of common shares using the treasury share method.
Business Combinations	Business Combinations The Company’s acquisitions are accounted for in accordance with ASC Topic 805, Business Combinations, as amended. The consideration transferred is allocated to various assets acquired and liabilities assumed at their estimated fair values as of the acquisition date with the residual allocated to goodwill. Fair values allocated to assets acquired and liabilities assumed in business combinations require management to make significant judgments, estimates, and assumptions, especially with respect to intangible assets. Management makes estimates of fair values based upon assumptions it believes to be reasonable. These estimates are based upon historical experience and information obtained from the management of the acquired companies and are inherently uncertain. The estimated fair values related to intangible assets primarily consist of customer relationships, trademarks, and developed technology which are determined primarily using discounted cash flow models. Estimates in the discounted cash flow models include, but are not limited to, certain assumptions that form the basis of the forecasted results (e.g. revenue growth rates, customer attrition rates, and royalty rates). These significant assumptions are forward looking and could be affected by future economic and market conditions. During the measurement period, which may take up to one year from the acquisition date, adjustments due to changes in the estimated fair value of assets acquired and liabilities assumed may be recorded as adjustments to the consideration transferred and the related allocations. Upon the conclusion of the measurement period or the final determination of the values of assets acquired and liabilities assumed, whichever comes first, any such adjustments are charged to the consolidated statements of earnings.
Adoption of New Accounting Standards	Adoption of New Accounting Standards Effective January 1, 2020, the Company adopted the amended guidance of Topic 326, which is intended to improve financial reporting by requiring more timely recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The amended guidance replaces the prior “incurred loss” approach with an “expected loss” model and requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The Company was required to adopt the amended guidance on a modified retrospective basis through a cumulative effect adjustment to retained earnings as of the beginning of the period of adoption. The Company evaluated its current methodology of estimating allowance for doubtful accounts and the risk profile of its receivable portfolio and developed a model that includes the qualitative and forecasting aspects of the “expected loss” model under the amended guidance. The Company finalized its assessment of the impact of the amended guidance and recorded a $8 million cumulative effect adjustment to retained earnings at January 1, 2020. Effective January 1, 2020, the Company adopted the amended guidance of ASC Topic 820, Fair Value Measurement, which modifies the disclosure requirements on fair value measurements. The adoption of this amended guidance did not impact the Company’s financial results. Effective December 31, 2020, the Company adopted the amended guidance of ASC Subtopic 715-20, Compensation - Retirement Benefits - Defined Benefit Plans - General, which modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The adoption of this amended guidance did not impact the Company’s financial results. Pending Accounting Standards Effective January 1, 2021, the Company will be required to adopt the amended guidance of ASC Topic 740, Income Taxes (Topic 740), which simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify other areas of Topic 740. Early adoption is permitted. The Company does not expect the adoption of the amendments to have a significant impact on its financial results. Through December 31, 2022, the Company has the option to adopt the amended guidance of ASC Topic 848, Reference Rate Reform, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amended guidance do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The Company plans to adopt the expedients and exceptions provided by the amended guidance before the December 31, 2022 expiry date but has not yet completed its assessment of the impact on the consolidated financial statements.

Revenues Revenues (Policies)	12 Months Ended
Revenues Revenues (Policies)	Dec. 31, 2020
Revenues [Abstract]
Revenues	Revenues The Company follows a policy of recognizing revenue at a single point in time when it satisfies its performance obligation by transferring control over a product or service to a customer. For transportation service contracts, the Company recognizes revenue over time as the barge, ocean-going vessel, truck, rail, or container freight moves towards its destination in accordance with the transfer of control guidance of ASC Topic 606, Revenue from Contracts with Customers (“Topic 606”). For physically settled derivative sales contracts that are outside the scope of Topic 606, the Company recognizes revenue when control of the inventory is transferred within the meaning of Topic 606 as required by ASC 610-20, Gains and Losses from the Derecognition of Nonfinancial Assets (“Topic 610-20”). Revenue Recognition The Company principally generates revenue from merchandising and transporting agricultural commodities and manufactured products used as ingredients in food, feed, energy, and industrial products. Revenue is measured based on the consideration specified in the contract with a customer, and excludes any sales incentives and amounts collected on behalf of third parties. The Company follows a policy of recognizing revenue at a single point in time when it satisfies its performance obligation by transferring control over a product or service to a customer. The majority of the Company’s contracts with customers have one performance obligation and a contract duration of one year or less. The Company applies the practical expedient in paragraph 10-50-14 of Topic 606 and does not disclose information about remaining performance obligations that have original expected durations of one year or less. For transportation service contracts, the Company recognizes revenue over time as the barge, ocean-going vessel, truck, rail, or container freight moves towards its destination in accordance with the transfer of control guidance of Topic 606. The Company recognized revenue from transportation service contracts of $423 million, $515 million, and $481 million for the years ended December 31, 2020, 2019, and 2018, respectively. For physically settled derivative sales contracts that are outside the scope of Topic 606, the Company recognizes revenue when control of the inventory is transferred within the meaning of Topic 606 as required by ASC 610-20. Shipping and Handling Costs Shipping and handling costs related to contracts with customers for the sale of goods are accounted for as a fulfillment activity and are included in cost of products sold. Accordingly, amounts billed to customers for such costs are included as a component of revenues. Taxes Collected from Customers and Remitted to Governmental Authorities The Company does not include taxes assessed by governmental authorities that are (i) imposed on and concurrent with a specific revenue-producing transaction and (ii) collected from customers, in the measurement of transactions prices or as a component of revenues and cost of products sold.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

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+ Details

Leases Leases (Policies)	12 Months Ended
Leases Leases (Policies)	Dec. 31, 2020
Leases [Abstract]
Short-term Leases [Policy Text Block]	As an accounting policy election, the Company does not apply the recognition requirements of Topic 842 to short-term leases in all of its underlying asset categories. The Company recognizes short-term lease payments in earnings on a straight-line basis over the lease term, and variable lease payments in the period in which the obligation for those payments is incurred. The Company also combines lease and non-lease contract components in all of its underlying asset categories as an accounting policy election.

Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Schedule of inventory by costing method [Table Text Block]

The following table sets forth the Company’s inventories as of December 31, 2020 and 2019.


	December 31, 2020		December 31, 2019
	(In millions)
LIFO inventories
FIFO value	$	—	$	1,022
LIFO valuation reserve	—		(91)
LIFO inventories carrying value	—		931
FIFO inventories	3,310		3,106
Market inventories	7,941		4,704
Supplies and other inventories	462		429
Total inventories	$	11,713	$	9,170

Revenues Revenues (Tables)

12 Months Ended

Dec. 31, 2020

Revenues [Abstract]

Disaggregation of Revenue [Table Text Block]

Disaggregation of Revenues

The following tables present revenue disaggregated by timing of recognition and major product lines for the years ended December 31, 2020, 2019, and 2018.


	Year Ended December 31, 2020
	Topic 606 Revenue						Topic 815(1)		Total
	Point in Time		Over Time		Total		Revenue		Revenues
	(In millions)
Ag Services and Oilseeds
Ag Services	$	3,108	$	423	$	3,531	$	29,195	$	32,726
Crushing	467		—		467		9,126		9,593
Refined Products and Other	2,095		—		2,095		5,302		7,397
Total Ag Services and Oilseeds	5,670		423		6,093		43,623		49,716
Carbohydrate Solutions
Starches and Sweeteners	4,756		—		4,756		1,631		6,387
Vantage Corn Processors	2,085		—		2,085		—		2,085
Total Carbohydrate Solutions	6,841		—		6,841		1,631		8,472
Nutrition
Human Nutrition	2,812		—		2,812		—		2,812
Animal Nutrition	2,988		—		2,988		—		2,988
Total Nutrition	5,800		—		5,800		—		5,800

Other Business	367		—		367		—		367
Total Revenues	$	18,678	$	423	$	19,101	$	45,254	$	64,355


	Year Ended December 31, 2019
	Topic 606 Revenue						Topic 815(1)		Total
	Point in Time		Over Time		Total		Revenue		Revenues
	(In millions)
Ag Services and Oilseeds
Ag Services	$	4,693	$	515	$	5,208	$	26,497	$	31,705
Crushing	736		—		736		8,743		9,479
Refined Products and Other	2,230		—		2,230		5,327		7,557
Total Ag Services and Oilseeds	7,659		515		8,174		40,567		48,741
Carbohydrate Solutions
Starches and Sweeteners	5,154		—		5,154		1,700		6,854
Vantage Corn Processors	3,032		—		3,032		—		3,032
Total Carbohydrate Solutions	8,186		—		8,186		1,700		9,886
Nutrition
Human Nutrition	2,745		—		2,745		—		2,745
Animal Nutrition	2,932		—		2,932		—		2,932
Total Nutrition	5,677		—		5,677		—		5,677

Other Business	352		—		352		—		352
Total Revenues	$	21,874	$	515	$	22,389	$	42,267	$	64,656


	Year Ended December 31, 2018
	Topic 606 Revenue						Topic 815(1)		Total
	Point in Time		Over Time		Total		Revenue		Revenues
	(In millions)
Ag Services and Oilseeds
Ag Services	$	2,182	$	481	$	2,663	$	29,103	$	31,766
Crushing	664		—		664		9,655		10,319
Refined Products and Other	1,792		—		1,792		6,014		7,806
Total Ag Services and Oilseeds	4,638		481		5,119		44,772		49,891
Carbohydrate Solutions
Starches and Sweeteners	5,127		—		5,127		1,795		6,922
Vantage Corn Processors	3,357		—		3,357		—		3,357
Total Carbohydrate Solutions	8,484		—		8,484		1,795		10,279
Nutrition
Human Nutrition	2,571		—		2,571		—		2,571
Animal Nutrition	1,219		—		1,219		—		1,219
Total Nutrition	3,790		—		3,790		—		3,790

Other Business	381		—		381		—		381
Total Revenues	$	17,293	$	481	$	17,774	$	46,567	$	64,341

(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.

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Business Combinations [Abstract]

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

The following table sets forth the fair values and the useful lives of the other intangible assets acquired.


	Useful Lives			Neovia		FCC		Ziegler		Total
	(In years)			(In millions)
Intangible assets with indefinite lives:
Trademarks/brands				$	194	$	—	$	—	$	194

Intangible assets with finite lives:
Trademarks/brands	5	to	15	12		—		4		16
Customer lists	10	to	20	304		15		5		324
Other intellectual property	6	to	10	159		14		26		199
Total other intangible assets acquired				$	669	$	29	$	35	$	733

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

During the year ended December 31, 2020, the Company acquired Yerbalatina and the remaining 70% interest in Anco Animal Nutrition Competence GmbH (“Anco”) for an aggregate cash consideration of $15 million. The aggregate cash consideration of these acquisitions plus the $3 million acquisition-date value of the Company’s previously held equity interest in Anco, were allocated as follows:


	(In millions)
Working capital	$	16
Property, plant, and equipment	1
Goodwill	2
Long-term liabilities	(1)
Aggregate cash consideration plus acquisition-date fair value of previously held equity interest	$	18

During the year ended December 31, 2019, the Company acquired Neovia SAS (“Neovia”), Florida Chemical Company (“FCC”), The Ziegler Group (“Ziegler”), and the remaining 50% interest in Gleadell Agriculture Ltd (“Gleadell”), for an aggregate cash consideration of $2.0 billion. The aggregate cash consideration of these acquisitions, net of $95 million in cash acquired, plus the $15 million acquisition-date value of the Company’s previously held equity interest in Gleadell, was allocated as follows:


(In millions)	Neovia		FCC		Ziegler		Gleadell		Total
Working capital	$	108	$	31	$	18	$	(6)	$	151
Property, plant, and equipment	384		17		3		13		417
Goodwill	773		94		23		10		900
Other intangible assets	669		29		35		—		733
Other long-term assets	83		—		—		9		92
Long-term liabilities	(325)		(1)		(10)		(11)		(347)
Aggregate cash consideration, net of cash acquired, plus acquisition-date fair value of previously held equity interest	$	1,692	$	170	$	69	$	15	$	1,946

During the year ended December 31, 2018, the Company acquired Probiotics International Limited (also known as Protexin), a British-based provider of probiotic supplements for human, pet, and production-animal uses, Rodelle Inc., a premium originator, processor and supplier of vanilla products, and certain soybean origination, crushing, refining, and bottling assets of Brazil-based Algar Agro, for an aggregate cash consideration of $506 million. The aggregate cash consideration of these acquisitions, net of $42 million in cash acquired, was allocated as follows:


	(In millions)
Working capital	$	30
Property, plant, and equipment	133
Goodwill	187
Other intangible assets	132
Other long-term assets	6
Deferred tax liabilities	(15)
Noncontrolling interest	(9)
Aggregate cash consideration, net of cash acquired	$	464

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The following tables set forth, by level, the Company’s assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2020 and 2019.


	Fair Value Measurements at December 31, 2020
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
			(In millions)
Assets:
Inventories carried at market	$	—	$	5,758	$	2,183	$	7,941
Unrealized derivative gains:
Commodity contracts	—		1,905		859		2,764
Foreign exchange contracts	—		283		—		283
Interest rate contracts	—		61		—		61
Cash equivalents	297		—		—		297
Marketable securities	1		—		—		1
Segregated investments	1,067		—		—		1,067

Total Assets	$	1,365	$	8,007	$	3,042	$	12,414
Liabilities:
Unrealized derivative losses:
Commodity contracts	$	—	$	1,116	$	918	$	2,034
Foreign exchange contracts	—		535		—		535
Interest rate contracts	—		15		—		15
Debt conversion option	—		—		34		34
Inventory-related payables	—		498		11		509
Total Liabilities	$	—	$	2,164	$	963	$	3,127


	Fair Value Measurements at December 31, 2019
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
			(In millions)
Assets:
Inventories carried at market	$	—	$	3,227	$	1,477	$	4,704
Unrealized derivative gains:
Commodity contracts	—		277		201		478
Foreign currency contracts	—		138		—		138
Interest rate contracts	—		3		—		3
Cash equivalents	505		—		—		505
Marketable securities	5		—		—		5
Segregated investments	628		—		—		628
Deferred consideration	—		446		—		446
Total Assets	$	1,138	$	4,091	$	1,678	$	6,907
Liabilities:
Unrealized derivative losses:
Commodity contracts	$	—	$	375	$	199	$	574
Foreign currency contracts	—		125		—		125
Interest rate contracts	—		43		—		43
Inventory-related payables	—		702		27		729
Total Liabilities	$	—	$	1,245	$	226	$	1,471

Reconciliation Of Assets Measured At Fair Value On A Recurring Basis


	Level 3 Fair Value Assets Measurements at December 31, 2020
	Inventories Carried at Market		Commodity Derivative Contracts Gains		Total
	(In millions)
Balance, December 31, 2019	$	1,477	$	201	$	1,678
Total increase (decrease) in net realized/unrealized gains included in cost of products sold	146		938		1,084
Purchases	14,185		—		14,185
Sales	(13,852)		—		(13,852)
Settlements	—		(257)		(257)
Transfers into Level 3	290		70		360
Transfers out of Level 3	(63)		(93)		(156)
Ending balance, December 31, 2020 (1)	$	2,183	$	859	$	3,042

(1) Includes increase in unrealized gains of $1.7 billion relating to Level 3 assets still held at December 31, 2020.


	Level 3 Fair Value Assets Measurements at December 31, 2019
	Inventories Carried at Market		Commodity Derivative Contracts Gains		Total
	(In millions)
Balance, December 31, 2018	$	1,515	$	155	$	1,670
Total increase (decrease) in net realized/unrealized gains included in cost of products sold	327		417		744
Purchases	10,833		—		10,833
Sales	(11,167)		—		(11,167)
Settlements	—		(421)		(421)
Transfers into Level 3	108		74		182
Transfers out of Level 3	(139)		(24)		(163)
Ending balance, December 31, 2019 (1)	$	1,477	$	201	$	1,678

(1) Includes increase in unrealized gains of $900 million relating to Level 3 assets still held at December 31, 2019.

Reconciliation Of Liabilities Measured At Fair Value On A Recurring Basis


	Level 3 Fair Value Liabilities Measurements at December 31, 2020
	Inventory- related Payables		Commodity Derivative Contracts Losses		Debt Conversion Option		Total
	(In millions)
Balance, December 31, 2019	$	27	$	199	$	—	$	226
Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense	—		1,729		17		1,746
Purchases/Issuance of debt conversion option	20		—		17		37
Sales	(36)		—		—		(36)
Settlements	—		(1,059)		—		(1,059)
Transfers into Level 3	—		112		—		112
Transfers out of Level 3	—		(63)		—		(63)
Ending balance, December 31, 2020 (1)	$	11	$	918	$	34	$	963

(1) Includes increase in unrealized losses of $1.8 billion relating to Level 3 liabilities still held at December 31, 2020.


	Level 3 Fair Value Liabilities Measurements at December 31, 2019
	Inventory- related Payables		Commodity Derivative Contracts Losses		Total
	(In millions)
Balance, December 31, 2018	$	18	$	245	$	263
Total increase (decrease) in net realized/unrealized losses included in cost of products sold	(1)		398		397
Purchases	48		—		48
Sales	(38)		—		(38)
Settlements	—		(451)		(451)
Transfers into Level 3	—		51		51
Transfers out of Level 3	—		(44)		(44)
Ending balance, December 31, 2019 (1)	$	27	$	199	$	226

(1) Includes increase in unrealized losses of $7 million relating to Level 3 liabilities still held at December 31, 2019.

Unobservable Price Components Present in the Level 3 Valuations of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table sets forth the weighted average percentage of the unobservable price components included in the Company’s Level 3 valuations as of December 31, 2020 and 2019. The Company’s Level 3 measurements may include basis only, transportation cost only, or both price components. As an example, for Level 3 inventories with basis, the unobservable component as of December 31, 2020 is a weighted average 4.3% of the total price for assets and 13.7% of the total price for liabilities.


	Weighted Average % of Total Price
	December 31, 2020		December 31, 2019
Component Type	Assets	Liabilities	Assets	Liabilities
Inventories and Related Payables
Basis	4.3%	13.7%	28.2%	14.7%
Transportation cost	10.6%	—%	24.7%	—%
Commodity Derivative Contracts
Basis	28.3%	0.7%	16.0%	20.2%
Transportation cost	1.9%	1.3%	9.7%	3.1%

Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Other Derivatives Not Designated as Hedging Instruments

The following table sets forth the fair value of derivatives not designated as hedging instruments as of December 31, 2020 and 2019.


	December 31, 2020				December 31, 2019
	Assets		Liabilities		Assets		Liabilities
	(In millions)
Foreign Currency Contracts	$	283	$	270	$	125	$	120

Commodity Contracts	2,764		2,034		478		574
Debt Conversion Option	—		34		—		—
Total	$	3,047	$	2,338	$	603	$	694

The following table sets forth the pre-tax gains (losses) on derivatives not designated as hedging instruments that have been included in the consolidated statements of earnings for the years ended December 31, 2020, 2019, and 2018.


			Cost of		Other expense (income) - net
			products				Interest
(In millions)	Revenues		sold				Expense
For the Year Ended December 31, 2020
Consolidated Statement of Earnings	$	64,355	$	59,902	$	(278)	$	339

Pre-tax gains (losses) on:
Foreign Currency Contracts	$	28	$	(496)	$	(153)	$	—
Commodity Contracts	—		(68)		—
Debt Conversion Option	—		—		—		(17)
Total gain (loss) recognized in earnings	$	28	$	(564)	$	(153)	$	(17)	$	(706)

For the Year Ended December 31, 2019
Consolidated Statement of Earnings	$	64,656	$	60,509	$	7	$	402

Pre-tax gains (losses) on:
Foreign Currency Contracts	$	9	$	32	$	(21)	$	—
Commodity Contracts	—		24		—		—
Total gain (loss) recognized in earnings	$	9	$	56	$	(21)	$	—	$	44

For the Year Ended December 31, 2018
Consolidated Statement of Earnings	$	64,341	$	60,160	$	101	$	364

Pre-tax gains (losses) on:
Foreign Currency Contracts	$	5	$	(139)	$	(177)	$	—
Commodity Contracts	—		258		—		—
Total gain (loss) recognized in earnings	$	5	$	119	$	(177)	$	—	$	(53)

Schedule Of Derivatives Designated As Hedging Instruments

The following table sets forth the fair value of derivatives designated as hedging instruments as of December 31, 2020 and 2019.


	December 31, 2020				December 31, 2019
	Assets		Liabilities		Assets		Liabilities
	(In millions)
Foreign Currency Contracts	$	—	$	265	$	13	$	5
Interest Rate Contracts	61		15		3		43
Total	$	61	$	280	$	16	$	48

The following table sets forth the pre-tax gains (losses) on derivatives designated as hedging instruments that have been included in the consolidated statement of earnings for the years ended December 31, 2020, 2019, and 2018.


			Cost of products sold		Interest expense		Other expense (income) - net
(In millions)	Revenues

For the Year Ended December 31, 2020
Consolidated Statement of Earnings	$	64,355	$	59,902	$	339	$	(278)

Effective amounts recognized in earnings
Pre-tax gains (losses) on:

Interest Contracts	(75)		$	—	$	(2)	$	—
Commodity Contracts	7		27		—		(2)
Total gain (loss) recognized in earnings	$	(68)	$	27	$	(2)	$	(2)	$	(45)

For the Year Ended December 31, 2019
Consolidated Statement of Earnings	$	64,656	$	60,509	402		$	7

Effective amounts recognized in earnings
Pre-tax gains (losses) on:

Interest Rate Contracts	$	—	$	—	$	1	$	(46)
Commodity Contracts	(44)		(11)		—		—



Total gain (loss) recognized in earnings	$	(44)	$	(11)	$	1	$	(46)	$	(100)

For the Year Ended December 31, 2018
Consolidated Statement of Earnings	$	64,341	$	60,160	$	364	$	101

Effective amounts recognized in earnings
Pre-tax gains (losses) on:

Interest Rate Contracts	$	—	$	—	$	1	$	—
Commodity Contracts	36		(113)		—		—




Total gain (loss) recognized in earnings	$	36	$	(113)	$	1	$	—	$	(76)

Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2020

Other Assets [Abstract]

Other Current Assets

The following table sets forth the items in other current assets:


	December 31, 2020		December 31, 2019
	(In millions)
Unrealized gains on derivative contracts	$	3,108	$	619
Deferred receivables consideration	—		446
Margin deposits and grain accounts	500		111
Customer omnibus receivable	860		1,014
Financing receivables - net (1)	297		395
Insurance premiums receivable	35		41
Prepaid expenses	290		318
Biodiesel tax credit	101		541
Tax receivables	680		579
Non-trade receivables (2)	218		369
Other current assets	135		167
	$	6,224	$	4,600

Accrued Expenses And Other Payables (Tables)

12 Months Ended

Dec. 31, 2020

Payables and Accruals [Abstract]

Accrued Expenses And Other Payables

The following table sets forth the items in accrued expenses and other payables:


	December 31, 2020		December 31, 2019
	(In millions)
Unrealized losses on derivative contracts	$	2,584	$	742

Accrued compensation	396		300
Income tax payable	41		72
Other taxes payable	127		120
Biodiesel tax credit payable	5		332
Insurance claims payable	238		284
Contract liability	626		604

Other accruals and payables	926		1,088
	$	4,943	$	3,542

Investments In And Advances To Affiliates (Tables)

12 Months Ended

Dec. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Combined Balance Sheets And Statements Of Earnings Of The Company's Unconsolidated Affiliates

The following table summarizes the combined balance sheets as of December 31, 2020 and 2019, and the combined statements of earnings of the Company’s unconsolidated affiliates for the years ended December 31, 2020, 2019, and 2018.


	December 31
(In millions)	2020		2019
Current assets	$	29,508	$	26,695
Non-current assets	23,853		22,627
Current liabilities	(25,969)		(23,580)
Non-current liabilities	(7,191)		(5,913)
Noncontrolling interests	(1,075)		(1,066)
Net assets	$	19,126	$	18,763


	Year Ended December 31
(In millions)	2020		2019		2018
Revenues	$	59,195	$	50,596	$	53,143
Gross profit	5,070		5,334		5,118
Net income	2,093		1,455		1,881

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill Balances Attributable To Consolidated Businesses And Investments In Affiliates, By Segment

Goodwill balances attributable to consolidated businesses, by segment, are set forth in the following table.


	December 31, 2020		December 31, 2019
	(In millions)
Ag Services and Oilseeds	$	212	$	206

Carbohydrate Solutions	263		261
Nutrition	2,972		2,914
Other Business	4		4
Total	$	3,451	$	3,385

Schedule of other intangible assets

The following table sets forth the other intangible assets:


				December 31, 2020						December 31, 2019
	Useful			Gross		Accumulated				Gross		Accumulated
	Life			Amount		Amortization		Net		Amount		Amortization		Net
	(In years)			(In millions)
Intangible assets with indefinite lives:
Trademarks/brands				$	429	$	—	$	429	$	440	$	—	$	440

Other				1		—		1		1		—		1

Intangible assets with definite lives:
Trademarks/brands	5	to	20	39		(16)		23		35		(13)		22
Customer lists	5	to	30	1,196		(390)		806		1,194		(310)		884

Computer software	1	to	8	464		(354)		110		425		(305)		120
Land rights	2	to	50	177		(35)		142		168		(30)		138
Other intellectual property	6	to	20	241		(79)		162		238		(56)		182
Recipes and other	3	to	35	489		(200)		289		538		(234)		304


Total				$	3,036	$	(1,074)	$	1,962	$	3,039	$	(948)	$	2,091

Debt Financing Arrangements (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Long-Term Debt

The Company’s long-term debt consisted of the following:


Debt Instrument
Interest Rate	Face Amount		Due Date	December 31, 2020		December 31, 2019
				(In millions)
2.5% Notes	$1 billion		2026	$	995	$	994

3.25% Notes	$1 billion		2030	987		—

1% Notes	€650 million		2025	789		723

1.75% Notes	€600 million		2023	731		669

4.5% Notes	$600 million		2049	588		587

2.75% Notes	$500 million		2025	493		—

5.375% Debentures	$432 million	(4)	2035	424		461

3.75% Notes	$408 million	(1)	2047	402		493

5.935% Debentures	$336 million	(6)	2032	333		379

0% Bonds	$300 million		2023	330		—

5.765% Debentures	$297 million	(5)	2041	297		378

4.535% Debentures	$383 million	(3)	2042	281		384

4.016% Debentures	$371 million	(2)	2043	255		389

7% Debentures	$160 million	(11)	2031	159		163

6.95% Debentures	$157 million	(10)	2097	154		155

7.5% Debentures	$147 million	(12)	2027	146		150

6.625% Debentures	$144 million	(8)	2029	144		159

6.75% Debentures	$103 million	(9)	2027	103		117

6.45% Debentures	$103 million	(7)	2038	102		126

4.479% Debentures	$516 million		2021	—		500

3.375% Notes	$400 million		2022	—		398







Other				174		454
Total long-term debt including current maturities				7,887		7,679
Current maturities				(2)		(7)
Total long-term debt				$	7,885	$	7,672

(1) $500 million face amount in 2019 (10) $159 million face amount in 2019

(2) $570 million face amount in 2019 (11) $164 million face amount in 2019

(3) $528 million face amount in 2019 (12) $150 million face amount in 2019

(4) $470 million face amount in 2019

(5) $378 million face amount in 2019

(6) $383 million face amount in 2019

(7) $127 million face amount in 2019

(8) $160 million face amount in 2019

(9) $118 million face amount in 2019

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ 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 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
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-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Stock Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Assumptions Used To Value Share-Based Compensation

The assumptions used in the Black-Scholes single option pricing model for 2019 and 2018 were as follows. No options were granted in 2020.


	Year Ended December 31
	2020	2019	2018
Dividend yield	—%	3%	3%
Risk-free interest rate	—%	2%	2%
Stock volatility	—%	22%	23%
Average expected life (years)	—	6	6

Summary Of Option Activity During The Period

A summary of option activity during 2020 is presented below:


	Shares	Weighted-Average Exercise Price
	(In thousands, except per share amounts)
Shares under option at December 31, 2019	8,048	$35.20
Granted	—	0.00
Exercised	(1,778)	27.41
Forfeited or expired	(1)	34.52
Shares under option at December 31, 2020	6,269	$37.40

Exercisable at December 31, 2020	5,801	$37.74

Summary Of Restricted Stock Awards And PSUs Activity During The Period

A summary of Restricted Stock Awards and PSUs activity during 2020 is presented below:


	Restricted Stock Awards and PSUs	Weighted Average Grant-Date Fair Value
	(In thousands, except per share amounts)
Non-vested at December 31, 2019	6,722	$42.97
Granted	2,732	45.59
Vested	(1,417)	44.49
Forfeited	(665)	43.95
Non-vested at December 31, 2020	7,372	$43.56

Other (Income) Expense - Net (Tables)

12 Months Ended

Dec. 31, 2020

Other Income and Expenses [Abstract]

Other (Income) Expense - Net

The following table sets forth the items in other (income) expense:


(In millions)	Year Ended December 31
	2020		2019		2018


(Gain) loss on sales of assets and businesses	$	(161)	$	39	$	(43)
Pension settlement	—		—		117




Other – net	(117)		(32)		27
	$	(278)	$	7	$	101

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Components Of Earnings Before Income Taxes by Geographic Region

The following table sets forth the geographic split of earnings before income taxes:


	Year Ended
(In millions)	December 31
	2020		2019		2018

United States	$	442	$	756	$	972
Foreign	1,441		832		1,088
	$	1,883	$	1,588	$	2,060

Significant Components Of Income Taxes

Significant components of income taxes are as follows:


(In millions)	Year Ended December 31
	2020		2019		2018
Current
Federal	$	(164)	$	37	$	96
State	4		11		25
Foreign	186		181		171
Deferred
Federal	41		47		(55)
State	(10)		1		(16)
Foreign	44		(68)		24
	$	101	$	209	$	245

Significant Components Of Deferred Tax Liabilities And Assets

Significant components of deferred tax liabilities and assets are as follows:


	December 31, 2020		December 31, 2019
	(In millions)
Deferred tax liabilities
Property, plant, and equipment	$	903	$	1,012
Intangibles	334		286
Right of use assets	223		220
Equity in earnings of affiliates	64		72
Inventory reserves	25		32
Debt exchange	53		80
Reserves and other accruals	195		20
Other	173		109
	$	1,970	$	1,831
Deferred tax assets
Pension and postretirement benefits	$	163	$	155

Lease liabilities	227		225
Stock compensation	80		62

Foreign tax loss carryforwards	470		411
Capital loss carryforwards	70		62
State tax attributes	79		74

Reserves and other accruals	42		—
Other	136		147
Gross deferred tax assets	1,267		1,136
Valuation allowances	(339)		(325)
Net deferred tax assets	$	928	$	811

Net deferred tax liabilities	$	1,042	$	1,020

The net deferred tax liabilities are classified as follows:




Noncurrent assets (foreign)	$	260	$	174
Noncurrent liabilities	(957)		(969)
Noncurrent liabilities (foreign)	(345)		(225)
	$	(1,042)	$	(1,020)

Reconciliation Of The Statutory Federal Income Tax Rate To The Company's Effective Tax Rate On Earnings

Reconciliation of the statutory federal income tax rate to the Company’s effective income tax rate on earnings is as follows:


	Year Ended
	December 31
	2020		2019		2018

Statutory rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal tax benefit	(0.3)		0.6		0.3
Foreign earnings taxed at rates other than the U.S. statutory rate	(4.5)		(0.9)		(1.5)
Foreign currency effects/remeasurement	(1.1)		0.7		(1.9)
Income tax adjustment to filed returns	(0.4)		0.2		(1.9)
Tax benefit on U.S. biodiesel credits	(3.3)		(7.5)		(2.3)
Tax benefit on U.S. railroad credits	(8.0)		(3.6)		—

Tax on Global Intangible Low Taxed Income (GILTI)	2.9		1.4		1.0
Tax benefit on Foreign Derived Intangible Income Deduction (FDII)	(0.1)		—		(1.0)


U.S. tax reform impacts	(0.3)		0.4		(1.1)
Other	(0.5)		0.9		(0.7)
Effective income tax rate	5.4	%	13.2	%	11.9	%

Unrecognized Tax Benefits

The following table sets forth a rollforward of activity of unrecognized tax benefits for the year ended December 31, 2020 and 2019 as follows:


	Unrecognized Tax Benefits
	December 31, 2020		December 31, 2019
	(In millions)
Beginning balance	$	130	$	107
Additions related to current year’s tax positions	2		8
Additions related to prior years’ tax positions	37		—
Additions (adjustments) related to acquisitions	(1)		32
Reductions related to prior years’ tax positions	(3)		(14)
Reductions related to lapse of statute of limitations	(9)		(2)
Settlements with tax authorities	(5)		(1)
Ending balance	$	151	$	130

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Lease, Cost [Table Text Block]

The following table sets forth the amounts relating to the Company’s total lease cost and other information.


	Year Ended
	December 31, 2020			December 31, 2019
	(In millions)
Lease cost:
Operating lease cost	$	315		$	275
Short-term lease cost	101			99
Total lease cost	$	416		$	374

Other information:
Operating lease liability principal payments	$	302		$	209
Right-of-use assets obtained in exchange for new operating lease liabilities	$	314		$	302

	December 31, 2020			December 31, 2019
Weighted-average remaining lease term - operating leases (in years)	7			7
Weighted average discount rate - operating leases	4.2		%	4.6		%

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Below is a tabular disclosure of the future annual undiscounted cash flows for operating lease liabilities as of December 31, 2020.


	Undiscounted
	Cash Flows
	(In millions)
2021	$	302
2022	268
2023	218
2024	156
2025	95
Thereafter	260
Total	1,299

Less interest (1)	(175)
Lease liability	$	1,124

(1) Calculated using the implicit rate of the lease, if available, or the incremental borrowing rate that is appropriate for the tenor and geography of the lease.

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2020

Retirement Benefits [Abstract]

Retirement Plan Expense

The following table sets forth the components of retirement plan expense for the years ended December 31, 2020, 2019, and 2018:


	Pension Benefits						Postretirement Benefits
(In millions)	Year Ended December 31						Year Ended December 31
	2020		2019		2018		2020		2019		2018
Retirement plan expense
Defined benefit plans:
Service cost (benefits earned during the period)	$	61	$	58	$	66	$	1	$	2	$	2
Interest cost	70		82		93		4		5		5
Expected return on plan assets	(126)		(115)		(146)		—		—		—
Settlement charges	—		96		117		—		3		—

Curtailments	—		—		(1)		—		—		—
Amortization of actuarial loss	38		26		55		6		4		3
Amortization of prior service cost (credit)	(19)		(19)		(19)		(13)		(15)		(15)
Net periodic defined benefit plan expense	24		128		165		(2)		(1)		(5)
Defined contribution plans	54		58		50		—		—		—
Total retirement plan expense	$	78	$	186	$	215	$	(2)	$	(1)	$	(5)

Changes In Defined Benefit Obligation And Fair Value Of Defined Benefit Plan Assets

The following tables set forth changes in the defined benefit obligation and the fair value of defined benefit plan assets for the years ended December 31, 2020 and 2019:


	Pension Benefits				Postretirement Benefits
	December 31 2020		December 31 2019		December 31 2020		December 31 2019
	(In millions)				(In millions)
Benefit obligation, beginning	$	2,650	$	2,323	$	167	$	144
Service cost	61		58		1		2
Interest cost	70		82		4		5
Actuarial loss (gain)	285		363		17		24
Employee contributions	2		2		—		—

Business combinations	—		26		—		3
Settlements	(17)		35		—		3


Benefits paid	(84)		(249)		(14)		(14)
Plan amendments	—		(2)		—		—

Foreign currency effects	47		12		(2)		—
Benefit obligation, ending	$	3,014	$	2,650	$	173	$	167

Fair value of plan assets, beginning	$	2,018	$	1,736	$	—	$	—
Actual return on plan assets	317		348		—		—
Employer contributions	85		166		14		14
Employee contributions	2		2		—		—
Settlements	(18)		(10)		—		—
Business combinations	—		7		—		—

Benefits paid	(84)		(249)		(14)		(14)

Foreign currency effects	17		18		—		—
Fair value of plan assets, ending	$	2,337	$	2,018	$	—	$	—

Funded status	$	(677)	$	(632)	$	(173)	$	(167)

Prepaid benefit cost	$	29	$	38	$	—	$	—
Accrued benefit liability – current	(19)		(18)		(16)		(16)
Accrued benefit liability – long-term	(687)		(652)		(157)		(151)
Net amount recognized in the balance sheet	$	(677)	$	(632)	$	(173)	$	(167)

Principal Assumptions In Developing Net Periodic Pension Cost

The following table sets forth the principal assumptions used in developing net periodic benefit cost:

Pension Benefits

Postretirement Benefits

December 31
2020

December 31
2019

December 31
2020

December 31
2019

Discount rate

2.9%

3.9%

3.2%

4.3%

Expected return on plan assets

6.6%

6.5%

N/A

Rate of compensation increase

4.9%

N/A

Interest crediting rate

2.2%

3.3%

N/A

The following table sets forth the principal assumptions used in developing the year-end actuarial present value of the projected benefit obligations:


	Pension Benefits				Postretirement Benefits
	December 31 2020		December 31 2019		December 31 2020	December 31 2019
Discount rate	2.3	%	2.9	%	2.3%	3.2%
Rate of compensation increase	4.8	%	4.9	%	N/A	N/A
Interest crediting rate	2.0	%	2.2	%	N/A	N/A

Schedule Of Fair Value Of Plan Assets

The following tables set forth, by level within the fair value hierarchy, the fair value of plan assets as of December 31, 2020 and 2019.


	Fair Value Measurements at December 31, 2020
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
	(In millions)
Common stock	$	251	$	—	$	—	$	251


Mutual funds	666		—		—		666









Corporate bonds	—		328		—		328
U.S. Treasury instruments	345		—		—		345
U.S. government agency, state and local government bonds	—		4		—		4
Other	—		9		—		9
Total assets	$	1,262	$	341	$	—	$	1,603

Common collective trust funds at NAV
U.S. equity							418
International equity							316
Total assets at fair value							$	2,337


	Fair Value Measurements at December 31, 2019
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
	(In millions)
Common stock	$	187	$	—	$	—	$	187


Mutual funds	575		—		—		575










Corporate bonds	—		249		—		249
U.S. Treasury instruments	322		—		—		322
U.S. government agency, state and local government bonds	—		4		—		4
Other	—		9		—		9
Total assets	$	1,084	$	262	$	—	$	1,346

Common collective trust funds at NAV
U.S. equity							391
International equity							281
Total assets at fair value							$	2,018

Actual Asset Allocation For Global Pension Plan Assets

The following table sets forth the actual asset allocation for the Company’s global pension plan assets as of the measurement date:


	December 31 2020(1)(2)	December 31 2019(2)
Equity securities	54%	53%
Debt securities	35%	36%
Other	11%	11%
Total	100%	100%

(1)The Company’s U.S. pension plans contain approximately 75% of the Company’s global pension plan assets. The actual asset allocation for the Company’s U.S. pension plans as of the measurement date consists of 60% equity securities and 40% debt. The target asset allocation for the Company’s U.S. pension plans is approximately the same as the actual asset allocation. The actual asset allocation for the Company’s foreign pension plans as of the measurement date consists of 36% equity securities, 20% debt securities, and 44% in other investments. The target asset allocation for the Company’s foreign pension plans is approximately the same as the actual asset allocation.

(2)The Company’s pension plans did not directly hold any shares of Company common stock as of the December 31, 2020 and 2019 measurement dates.

Expected Future Benefit Payments To Be Paid

The following benefit payments, which reflect expected future service, are expected to be paid by the benefit plans:


	Pension Benefits		Postretirement Benefits
	(In millions)
2021	$	84	$	16
2022	90		15
2023	96		14
2024	101		14
2025	108		13
2026-2030	620		50

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2020

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Accumulated Other Comprehensive Income (Loss)

The following tables set forth the changes in AOCI by component and the reclassifications out of AOCI for the years ended December 31, 2020 and 2019:


	Foreign Currency Translation Adjustment		Deferred Gain (Loss) on Hedging Activities		Pension and Other Postretirement Benefit Liabilities Adjustment		Unrealized Gain (Loss) on Investments		Accumulated Other Comprehensive Income (Loss)
					(In millions)
Balance at December 31, 2018	$	(1,962)	$	61	$	(220)	$	15	$	(2,106)
Other comprehensive income before reclassifications	(220)		(191)		(89)		14		(486)
Gain (loss) on net investment hedges	35		—		—		—		35
Amounts reclassified from AOCI	7		100		(9)		(1)		97
Tax effect	(12)		18		50		(1)		55
Net of tax amount	(190)		(73)		(48)		12		(299)
Balance at December 31, 2019	$	(2,152)	$	(12)	$	(268)	$	27	$	(2,405)
Other comprehensive income before reclassifications	29		209		(120)		(27)		91
Gain (loss) on net investment hedges	(398)		—		—		—		(398)
Amounts reclassified from AOCI	—		45		7		—		52
Tax effect	97		(57)		16		—		56
Net of tax amount	(272)		197		(97)		(27)		(199)
Balance at December 31, 2020	$	(2,424)	$	185	$	(365)	$	—	$	(2,604)

Reclassification Out of Accumulated Other Comprehensive Income [Table Text Block]


	Amounts reclassified from AOCI Year Ended December 31						Affected line item in the consolidated statement of
Details about AOCI components	2020		2019		2018		earnings
	(In millions)
Foreign currency translation adjustment
	$	—	$	7	$	(1)	Other income/expense
	—		—		—		Tax
	$	—	$	7	$	(1)	Net of tax

Deferred loss (gain) on hedging activities
	$	(27)	$	11	$	113	Cost of products sold
	2		46		(36)		Other income/expense
	2		(1)		(1)		Interest expense
	68		44		—		Revenues
	45		100		76		Total before tax
	7		(13)		(18)		Tax on reclassifications
	$	52	$	87	$	58	Net of tax
Pension liability adjustment
Amortization of defined benefit pension items:
Prior service losses (credit)	$	(32)	$	(26)	$	(33)	Other (income) expense - net
Actuarial losses	39		17		65		Other (income) expense - net
	7		(9)		32		Total before tax
	(11)		18		(8)		Tax on reclassifications
	$	(4)	$	9	$	24	Net of tax
Unrealized loss (gain) on investments
	$	—	$	(1)	$	(2)	Other income/expense

	—		—		—		Tax on reclassifications
	$	—	$	(1)	$	(2)	Net of tax

Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment Information


	Year Ended
(In millions)	December 31
	2020		2019		2018
Gross revenues

Ag Services and Oilseeds	$	55,667	$	54,633	$	56,591
Carbohydrate Solutions	9,423		11,154		11,421
Nutrition	5,959		5,786		3,836
Other	367		352		381
Intersegment elimination	(7,061)		(7,269)		(7,888)
Total	$	64,355	$	64,656	$	64,341

Intersegment revenues

Ag Services and Oilseeds	$	5,951	$	5,892	$	6,700
Carbohydrate Solutions	951		1,268		1,142
Nutrition	159		109		46

Total	$	7,061	$	7,269	$	7,888

Revenues from external customers






Ag Services and Oilseeds
Ag Services	$	32,726	$	31,705	$	31,766
Crushing	9,593		9,479		10,319
Refined Products and Other	7,397		7,557		7,806
Total Ag Services and Oilseeds	49,716		48,741		49,891

Carbohydrate Solutions
Starches and Sweeteners	6,387		6,854		6,922
Vantage Corn Processors	2,085		3,032		3,357
Total Carbohydrate Solutions	8,472		9,886		10,279

Nutrition
Human Nutrition	2,812		2,745		2,571
Animal Nutrition	2,988		2,932		1,219
Total Nutrition	5,800		5,677		3,790


Other	367		352		381

Total	$	64,355	$	64,656	$	64,341


	Year Ended
(In millions)	December 31
	2020		2019		2018
Depreciation

Ag Services and Oilseeds	$	351	$	361	$	372
Carbohydrate Solutions	305		320		328
Nutrition	114		113		80
Other	6		6		6
Corporate	27		27		26
Total	$	803	$	827	$	812

Long-lived asset abandonments and write-downs(1)

Ag Services and Oilseeds	$	8	$	130	$	40
Carbohydrate Solutions	—		1		—
Nutrition	13		—		11
Corporate	7		—		49
Total	$	28	$	131	$	100

Interest income

Ag Services and Oilseeds	$	39	$	51	$	45
Carbohydrate Solutions	—		—		1
Nutrition	2		1		2
Other	40		125		100
Corporate	7		15		14
Total	$	88	$	192	$	162

Equity in earnings of affiliates

Ag Services and Oilseeds	$	475	$	378	$	421
Carbohydrate Solutions	81		60		62
Nutrition	22		17		17

Corporate	1		(1)		18
Total	$	579	$	454	$	518

(1) See Note 18 for total asset impairment, exit, and restructuring costs.


	Year Ended
(In millions)	December 31
	2020		2019		2018
Segment Operating Profit

Ag Services and Oilseeds	$	2,105	$	1,935	$	2,020
Carbohydrate Solutions	717		644		945
Nutrition	574		418		339
Other	52		85		58
Specified Items:
Gain on sales of assets and businesses(1)	83		12		13
Impairment, restructuring, exit, and settlement charges(2)	(76)		(146)		(102)

Total segment operating profit	3,455		2,948		3,273
Corporate	(1,572)		(1,360)		(1,213)
Earnings before income taxes	$	1,883	$	1,588	$	2,060

(1) The gain in 2020 consisted of a gain on the sale of a portion of the Company’s shares in Wilmar and certain other assets. The gain in 2019 consisted of a gain on the sale of certain assets and a step-up gain on an equity investment. The gain in 2018 related to the sale of the Company’s oilseeds operations in Bolivia and certain other assets.

(2) The charges in 2020 related to the impairment of certain assets, restructuring, and settlement. The charges in 2019 primarily related to the impairment of certain assets. The charges in 2018 related to the impairment of certain assets, restructuring, and settlement.

.


(In millions)	December 31
	2020		2019
Investments in and advances to affiliates

Ag Services and Oilseeds	$	4,402	$	4,662
Carbohydrate Solutions	392		363
Nutrition	102		98

Corporate	17		9
Total	$	4,913	$	5,132

Identifiable assets

Ag Services and Oilseeds	$	24,792	$	21,397
Carbohydrate Solutions	5,963		6,032
Nutrition	8,652		8,622
Other	7,152		5,661
Corporate	3,160		2,285
Total	$	49,719	$	43,997

(In millions)	Year Ended December 31
	2020		2019
Gross additions to property, plant, and equipment

Ag Services and Oilseeds	$	261	$	271
Carbohydrate Solutions	251		275
Nutrition	149		166
Other	8		2
Corporate	148		103
Total	$	817	$	817

Geographic Information

Geographic information: The following geographic data include revenues attributed to the countries based on the location of the subsidiary making the sale and long-lived assets based on physical location. Long-lived assets represent the net book value of property, plant, and equipment.


	Year Ended
(In millions)	December 31
	2020		2019		2018
Revenues
United States	$	25,986	$	27,509	$	28,726
Switzerland	13,819		13,016		12,911
Cayman Islands	3,958		4,374		5,724
Brazil	2,357		2,381		1,702
Mexico	2,244		2,068		1,627
Germany	1,979		2,026		2,179
Other Foreign	14,012		13,282		11,472
	$	64,355	$	64,656	$	64,341


(In millions)	December 31
	2020		2019
Long-lived assets
United States	$	6,329	$	6,488
Brazil	781		869
Other Foreign	2,841		2,749
	$	9,951	$	10,106

Asset Impairment, Exit, And Restructuring Costs (Tables)

12 Months Ended

Dec. 31, 2020

Restructuring, Settlement and Impairment Provisions [Abstract]

Asset Impairment, Exit, and Restructuring Costs

The following table sets forth the charges included in asset impairment, exit, and restructuring costs.


(In millions)	Year Ended December 31
	2020		2019		2018

Restructuring and exit costs (1)	$	26	$	161	$	29
Impairment charge - equity method investment(2)	—		—		12

Impairment charge - goodwill and other intangible assets (3)	26		11		9
Impairment charge - other long-lived assets (4)	28		131		121
Total asset impairment, exit, and restructuring costs	$	80	$	303	$	171

Quarterly Financial Data (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data


	Quarter Ended
	March 31		June 30		September 30		December 31		Year
	(In millions, except per share amounts)
Fiscal Year Ended December 31, 2020
Revenues	$	14,970	$	16,281	$	15,126	$	17,978	$	64,355
Gross Profit	951		1,108		1,042		1,352		4,453
Net Earnings Attributable to Controlling Interests	391		469		225		687		1,772
Basic Earnings Per Common Share	0.69		0.84		0.40		1.22		3.16
Diluted Earnings Per Common Share	0.69		0.84		0.40		1.22		3.15

Fiscal Year Ended December 31, 2019
Revenues	$	15,304	$	16,297	$	16,726	$	16,329	$	64,656
Gross Profit	928		972		1,078		1,169		4,147
Net Earnings Attributable to Controlling Interests	233		235		407		504		1,379
Basic Earnings Per Common Share	0.41		0.42		0.72		0.90		2.45
Diluted Earnings Per Common Share	0.41		0.42		0.72		0.90		2.44

Summary of Significant Accounting Policies (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Receivables
Accounts Receivable, Allowance for Credit Loss	$ 100				$ 110				$ 100	$ 110
SEC Schedule, 12-09, Valuation Allowances and Reserves, Additions, Charge to Cost and Expense									47	$ 23	$ 26
Inventory Disclosure [Abstract]
Percentage of LIFO Inventory					10.00%					10.00%
Cost of products sold									(59,902)	$ (60,509)	(60,160)
Net Income (Loss) Attributable to Parent	$ 687	$ 225	$ 469	$ 391	$ 504	$ 407	$ 235	$ 233	$ 1,772	$ 1,379	$ 1,810
Diluted earnings per common share (dollars per share)	$ 1.22	$ 0.40	$ 0.84	$ 0.69	$ 0.90	$ 0.72	$ 0.42	$ 0.41	$ 3.15	$ 2.44	$ 3.19
Inventory, LIFO Reserve, Period Charge									$ 147
Inventory, LIFO Reserve, Period Charge, After-tax									$ 113
Inventory, LIFO Reserve, Period Charge, Per Share									$ 0.20
Property, Plant, and Equipment
Capitalized interest on major construction projects									$ 14	$ 15	$ 21
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Asset Impairment									26	11	9
Asset Abandonments and Write-Downs
Asset Abandonments and Impairments									28	131	100
Research and Development
Research and development expenses, net of expenditures subsequently reimbursed by government grants									160	154	141
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ (20,022)				$ (19,225)				(20,022)	(19,225)	(18,996)	$ (18,322)
Change in Accounting Principle, Other [Member]
Inventory Disclosure [Abstract]
Cost of products sold				$ 91
Net Income (Loss) Attributable to Parent				$ 69
Diluted earnings per common share (dollars per share)				$ 0.12
Reinvested Earnings [Member]
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ (19,780)								$ (19,780)		$ (18,527)	$ (17,552)
Accounting Standards Update 2019-05
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest					8					8
Accounting Standards Update 2019-05 \| Reinvested Earnings [Member]
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest					$ 8					$ 8
Minimum [Member]
Goodwill and Intangible Assets Disclosure [Abstract]
Finite-Lived Intangible Asset, Useful Life									1 year
Minimum [Member] \| Building [Member]
Property, Plant, and Equipment
Property, Plant and Equipment, Useful Life									15 years
Minimum [Member] \| Machinery And Equipment [Member]
Property, Plant, and Equipment
Property, Plant and Equipment, Useful Life									3 years
Maximum [Member]
Goodwill and Intangible Assets Disclosure [Abstract]
Finite-Lived Intangible Asset, Useful Life									50 years
Maximum [Member] \| Building [Member]
Property, Plant, and Equipment
Property, Plant and Equipment, Useful Life									40 years
Maximum [Member] \| Machinery And Equipment [Member]
Property, Plant, and Equipment
Property, Plant and Equipment, Useful Life									40 years

Summary Of Significant Accounting Policies (Schedule Of Inventories) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
LIFO inventories
FIFO value	$ 0	$ 1,022
LIFO valuation reserve	0	(91)
LIFO inventories carrying value	0	931
FIFO inventories	3,310	3,106
Market inventories	7,941	4,704
Supplies and other inventories	462	429
Total inventories	$ 11,713	$ 9,170

Revenues Revenues (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
Revenues Revenues (Details) - USD ($) $ in Millions	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 17,978	$ 15,126	$ 16,281	$ 14,970	$ 16,329	$ 16,726	$ 16,297	$ 15,304	$ 64,355	$ 64,656	$ 64,341
Contract with Customer, Liability, Current	$ 626				$ 604				626	604
Contract with Customer, Liability, Revenue Recognized									604	575
Ag Services and Oilseeds [Member]
Disaggregation of Revenue [Line Items]
Revenues									49,716	48,741	49,891
Ag Services [Member]
Disaggregation of Revenue [Line Items]
Revenues										31,705	31,766
Crushing [Member]
Disaggregation of Revenue [Line Items]
Revenues										9,479	10,319
Refined Products and Other [Member]
Disaggregation of Revenue [Line Items]
Revenues										7,557	7,806
Carbohydrate Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues									8,472	9,886	10,279
Starches and sweeteners [Member]
Disaggregation of Revenue [Line Items]
Revenues										6,854	6,922
Vantage Corn Processors
Disaggregation of Revenue [Line Items]
Revenues										3,032	3,357
Nutrition [Member]
Disaggregation of Revenue [Line Items]
Revenues									5,800	5,677	3,790
Human Nutrition
Disaggregation of Revenue [Line Items]
Revenues										2,745	2,571
Animal Nutrition [Member]
Disaggregation of Revenue [Line Items]
Revenues										2,932	1,219
Other Segments [Member]
Disaggregation of Revenue [Line Items]
Revenues									367	352	381
Non MTM Products and Services [Member]
Disaggregation of Revenue [Line Items]
Revenues									19,101	22,389	17,774
Non MTM Products and Services [Member] \| Ag Services and Oilseeds [Member]
Disaggregation of Revenue [Line Items]
Revenues									6,093	8,174	5,119
Non MTM Products and Services [Member] \| Ag Services [Member]
Disaggregation of Revenue [Line Items]
Revenues									3,531	5,208	2,663
Non MTM Products and Services [Member] \| Crushing [Member]
Disaggregation of Revenue [Line Items]
Revenues									467	736	664
Non MTM Products and Services [Member] \| Refined Products and Other [Member]
Disaggregation of Revenue [Line Items]
Revenues									2,095	2,230	1,792
Non MTM Products and Services [Member] \| Carbohydrate Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues									6,841	8,186	8,484
Non MTM Products and Services [Member] \| Starches and sweeteners [Member]
Disaggregation of Revenue [Line Items]
Revenues									4,756	5,154	5,127
Non MTM Products and Services [Member] \| Vantage Corn Processors
Disaggregation of Revenue [Line Items]
Revenues									2,085	3,032	3,357
Non MTM Products and Services [Member] \| Nutrition [Member]
Disaggregation of Revenue [Line Items]
Revenues									5,800	5,677	3,790
Non MTM Products and Services [Member] \| Human Nutrition
Disaggregation of Revenue [Line Items]
Revenues									2,812	2,745	2,571
Non MTM Products and Services [Member] \| Animal Nutrition [Member]
Disaggregation of Revenue [Line Items]
Revenues									2,988	2,932	1,219
Non MTM Products and Services [Member] \| Other Segments [Member]
Disaggregation of Revenue [Line Items]
Revenues									367	352	381
Non MTM Products and Services [Member] \| Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenues									18,678	21,874	17,293
Non MTM Products and Services [Member] \| Transferred at Point in Time [Member] \| Ag Services and Oilseeds [Member]
Disaggregation of Revenue [Line Items]
Revenues									5,670	7,659	4,638
Non MTM Products and Services [Member] \| Transferred at Point in Time [Member] \| Ag Services [Member]
Disaggregation of Revenue [Line Items]
Revenues									3,108	4,693	2,182
Non MTM Products and Services [Member] \| Transferred at Point in Time [Member] \| Crushing [Member]
Disaggregation of Revenue [Line Items]
Revenues									467	736	664
Non MTM Products and Services [Member] \| Transferred at Point in Time [Member] \| Refined Products and Other [Member]
Disaggregation of Revenue [Line Items]
Revenues									2,095	2,230	1,792
Non MTM Products and Services [Member] \| Transferred at Point in Time [Member] \| Carbohydrate Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues									6,841	8,186	8,484
Non MTM Products and Services [Member] \| Transferred at Point in Time [Member] \| Starches and sweeteners [Member]
Disaggregation of Revenue [Line Items]
Revenues									4,756	5,154	5,127
Non MTM Products and Services [Member] \| Transferred at Point in Time [Member] \| Vantage Corn Processors
Disaggregation of Revenue [Line Items]
Revenues									2,085	3,032	3,357
Non MTM Products and Services [Member] \| Transferred at Point in Time [Member] \| Nutrition [Member]
Disaggregation of Revenue [Line Items]
Revenues									5,800	5,677	3,790
Non MTM Products and Services [Member] \| Transferred at Point in Time [Member] \| Human Nutrition
Disaggregation of Revenue [Line Items]
Revenues									2,812	2,745	2,571
Non MTM Products and Services [Member] \| Transferred at Point in Time [Member] \| Animal Nutrition [Member]
Disaggregation of Revenue [Line Items]
Revenues									2,988	2,932	1,219
Non MTM Products and Services [Member] \| Transferred at Point in Time [Member] \| Other Segments [Member]
Disaggregation of Revenue [Line Items]
Revenues									367	352	381
Non MTM Products and Services [Member] \| Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenues									423	515	481
Non MTM Products and Services [Member] \| Transferred over Time [Member] \| Ag Services and Oilseeds [Member]
Disaggregation of Revenue [Line Items]
Revenues									423	515	481
Non MTM Products and Services [Member] \| Transferred over Time [Member] \| Ag Services [Member]
Disaggregation of Revenue [Line Items]
Revenues									423	515	481
Mark-to-Market Products [Member]
Disaggregation of Revenue [Line Items]
Revenues									45,254	42,267	46,567
Mark-to-Market Products [Member] \| Ag Services and Oilseeds [Member]
Disaggregation of Revenue [Line Items]
Revenues									43,623	40,567	44,772
Mark-to-Market Products [Member] \| Ag Services [Member]
Disaggregation of Revenue [Line Items]
Revenues									29,195	26,497	29,103
Mark-to-Market Products [Member] \| Crushing [Member]
Disaggregation of Revenue [Line Items]
Revenues									9,126	8,743	9,655
Mark-to-Market Products [Member] \| Refined Products and Other [Member]
Disaggregation of Revenue [Line Items]
Revenues									5,302	5,327	6,014
Mark-to-Market Products [Member] \| Carbohydrate Solutions [Member]
Disaggregation of Revenue [Line Items]
Revenues									1,631	1,700	1,795
Mark-to-Market Products [Member] \| Starches and sweeteners [Member]
Disaggregation of Revenue [Line Items]
Revenues									$ 1,631	$ 1,700	$ 1,795

Acquisitions (Details) - USD ($) $ in Millions	12 Months Ended
Acquisitions (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Feb. 28, 2019
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross		$ 2,000
Cash Acquired from Acquisition		95
Purchase price, net of cash acquired	$ 15	1,946	$ 464
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value		15
Purchase price allocated to working capital		151
Purchase price allocated to property, plant and equipment		417
Goodwill	3,451	3,385
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		733
Purchase price allocated to other non-current assets		92
Purchase price allocated to long-term liabilities		(347)
Business Acquisition, Goodwill, Expected Tax Deductible Amount		94
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain		4
Gleadell [Member]
Business Acquisition [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners				50.00%
Anco [Member]
Business Acquisition [Line Items]
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value	3
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain	$ 2
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	70.00%
Neovia [Member]
Business Acquisition [Line Items]
Purchase price, net of cash acquired		1,692
Purchase price allocated to working capital		108
Purchase price allocated to property, plant and equipment		384
Goodwill		773
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		669
Purchase price allocated to other non-current assets		83
Purchase price allocated to long-term liabilities		(325)
FCC [Member]
Business Acquisition [Line Items]
Purchase price, net of cash acquired		170
Purchase price allocated to working capital		31
Purchase price allocated to property, plant and equipment		17
Goodwill		94
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		29
Purchase price allocated to other non-current assets		0
Purchase price allocated to long-term liabilities		(1)
Ziegler [Member]
Business Acquisition [Line Items]
Purchase price, net of cash acquired		69
Purchase price allocated to working capital		18
Purchase price allocated to property, plant and equipment		3
Goodwill		23
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		35
Purchase price allocated to other non-current assets		0
Purchase price allocated to long-term liabilities		(10)
Gleadell [Member]
Business Acquisition [Line Items]
Purchase price, net of cash acquired		15
Purchase price allocated to working capital		(6)
Purchase price allocated to property, plant and equipment		13
Goodwill		10
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		0
Purchase price allocated to other non-current assets		9
Purchase price allocated to long-term liabilities		(11)
2019 Acquisitions [Member]
Business Acquisition [Line Items]
Goodwill		900
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	$ 15		506
Cash Acquired from Acquisition			42
Purchase price, net of cash acquired	18		464
Purchase price allocated to working capital	16		30
Purchase price allocated to property, plant and equipment	1		133
Goodwill	2		187
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill			132
Purchase price allocated to other non-current assets			6
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent			(15)
Purchase price allocated to long-term liabilities	$ (1)
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value			$ (9)
Trademarks and Brands [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		16
Trademarks and Brands [Member] \| Neovia [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		12
Trademarks and Brands [Member] \| FCC [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		0
Trademarks and Brands [Member] \| Ziegler [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		4
Customer Lists [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		324
Customer Lists [Member] \| Neovia [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		304
Customer Lists [Member] \| FCC [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		15
Customer Lists [Member] \| Ziegler [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		5
Technology-Based Intangible Assets [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		199
Technology-Based Intangible Assets [Member] \| Neovia [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		159
Technology-Based Intangible Assets [Member] \| FCC [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		14
Technology-Based Intangible Assets [Member] \| Ziegler [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		$ 26
Minimum [Member] \| Trademarks and Brands [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		5 years
Minimum [Member] \| Customer Lists [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		10 years
Minimum [Member] \| Technology-Based Intangible Assets [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		6 years
Maximum [Member] \| Trademarks and Brands [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		15 years
Maximum [Member] \| Customer Lists [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		20 years
Maximum [Member] \| Technology-Based Intangible Assets [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life		10 years
Trademarks and Brands [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		$ 194
Trademarks and Brands [Member] \| Neovia [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		$ 194

Fair Value Measurements (Narrative) (Details) - Significant Unobservable Inputs (Level 3) [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value Measurements [Line Items]
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)	$ 1,700	$ 900
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss)	$ 1,800	$ 7
Assets [Member] \| Weighted Average [Member] \| Fair Value, Recurring [Member] \| Inventories Component [Member]
Fair Value Measurements [Line Items]
Basis	4.30%	28.20%
Liabilities [Member] \| Weighted Average [Member] \| Fair Value, Recurring [Member] \| Inventories Component [Member]
Fair Value Measurements [Line Items]
Basis	13.70%	14.70%

Fair Value Measurements (Fair Value Measurements At Reporting Date) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Assets:
Deferred receivables consideration	$ 0	$ 446
Fair Value, Recurring [Member]
Assets:
Inventories carried at market	7,941	4,704
Cash Equivalents	297	505
Debt Securities, Available-for-sale	1	5
Segregated investments	1,067	628
Deferred receivables consideration		446
Total Assets	12,414	6,907
Liabilities:
Inventory-related payables	509	729
Total Liabilities	3,127	1,471
Fair Value, Recurring [Member] \| Commodity Contracts [Member]
Assets:
Derivative Asset	2,764	478
Liabilities:
Derivative Liability	2,034	574
Fair Value, Recurring [Member] \| Foreign Exchange Contract [Member]
Assets:
Derivative Asset	283	138
Liabilities:
Derivative Liability	535	125
Fair Value, Recurring [Member] \| Interest Rate Contracts [Member]
Assets:
Derivative Asset	61	3
Liabilities:
Derivative Liability	15	43
Fair Value, Recurring [Member] \| Embedded Derivative Financial Instruments
Liabilities:
Derivative Liability	34
Fair Value, Recurring [Member] \| Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
Assets:
Inventories carried at market	0	0
Cash Equivalents	297	505
Debt Securities, Available-for-sale	1	5
Segregated investments	1,067	628
Deferred receivables consideration		0
Total Assets	1,365	1,138
Liabilities:
Inventory-related payables	0	0
Total Liabilities	0	0
Fair Value, Recurring [Member] \| Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] \| Commodity Contracts [Member]
Assets:
Derivative Asset	0	0
Liabilities:
Derivative Liability	0	0
Fair Value, Recurring [Member] \| Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] \| Foreign Exchange Contract [Member]
Assets:
Derivative Asset	0	0
Liabilities:
Derivative Liability	0	0
Fair Value, Recurring [Member] \| Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] \| Interest Rate Contracts [Member]
Assets:
Derivative Asset	0
Liabilities:
Derivative Liability	0	0
Fair Value, Recurring [Member] \| Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] \| Embedded Derivative Financial Instruments
Liabilities:
Derivative Liability	0
Fair Value, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Assets:
Inventories carried at market	5,758	3,227
Debt Securities, Available-for-sale	0	0
Segregated investments	0
Deferred receivables consideration		446
Total Assets	8,007	4,091
Liabilities:
Inventory-related payables	498	702
Total Liabilities	2,164	1,245
Fair Value, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Commodity Contracts [Member]
Assets:
Derivative Asset	1,905	277
Liabilities:
Derivative Liability	1,116	375
Fair Value, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Foreign Exchange Contract [Member]
Assets:
Derivative Asset	283	138
Liabilities:
Derivative Liability	535	125
Fair Value, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Interest Rate Contracts [Member]
Assets:
Derivative Asset	61	3
Liabilities:
Derivative Liability	15	43
Fair Value, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member] \| Embedded Derivative Financial Instruments
Liabilities:
Derivative Liability	0
Fair Value, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Assets:
Inventories carried at market	2,183	1,477
Debt Securities, Available-for-sale	0	0
Deferred receivables consideration		0
Total Assets	3,042	1,678
Liabilities:
Inventory-related payables	11	27
Total Liabilities	963	226
Fair Value, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Commodity Contracts [Member]
Assets:
Derivative Asset	859	201
Liabilities:
Derivative Liability	918	199
Fair Value, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Foreign Exchange Contract [Member]
Assets:
Derivative Asset	0	0
Liabilities:
Derivative Liability	0	0
Fair Value, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Interest Rate Contracts [Member]
Assets:
Derivative Asset	0
Liabilities:
Derivative Liability	0	$ 0
Fair Value, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member] \| Embedded Derivative Financial Instruments
Liabilities:
Derivative Liability	$ 34

Fair Value Measurements (Reconciliation Of Assets Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	$ 1,678	$ 1,670
Total increase (decrease) in unrealized gains included in cost of products sold	1,084	744
Purchases	14,185	10,833
Sales	(13,852)	(11,167)
Settlements	(257)	(421)
Transfers into Level 3	360	182
Transfers out of Level 3	(156)	(163)
Balance at end of period	3,042	1,678
Inventories Carried At Market [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	1,477	1,515
Total increase (decrease) in unrealized gains included in cost of products sold	146	327
Purchases	14,185	10,833
Sales	(13,852)	(11,167)
Transfers into Level 3	290	108
Transfers out of Level 3	(63)	(139)
Balance at end of period	2,183	1,477
Commodity Derivative Contracts Gains [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	201	155
Total increase (decrease) in unrealized gains included in cost of products sold	938	417
Settlements	(257)	(421)
Transfers into Level 3	70	74
Transfers out of Level 3	(93)	(24)
Balance at end of period	$ 859	$ 201

Fair Value Measurements (Reconciliation Of Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	$ 226	$ 263
Total increase (decrease) in unrealized gains included in cost of products sold	1,746	397
Purchases	37	48
Sales	(36)	(38)
Settlements	(1,059)	(451)
Transfers into Level 3	112	51
Transfers out of Level 3	(63)	(44)
Balance at end of period	963	226
Commodity Derivative Contracts Losses [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	199	245
Total increase (decrease) in unrealized gains included in cost of products sold	1,729	398
Purchases	0	0
Sales	0	0
Settlements	(1,059)	(451)
Transfers into Level 3	112	51
Transfers out of Level 3	(63)	(44)
Balance at end of period	918	199
Inventory Related Payables [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	27	18
Total increase (decrease) in unrealized gains included in cost of products sold	0	(1)
Purchases	20	48
Sales	(36)	(38)
Settlements	0	0
Transfers into Level 3	0	0
Transfers out of Level 3	0	0
Balance at end of period	11	27
Long-term Debt
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	0
Sales	0
Settlements	0
Transfers into Level 3	0
Transfers out of Level 3	$ 0
Balance at end of period		$ 0

Fair Value Measurements (Unobservable Inputs In Level 3 Valuations Of Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - Weighted Average [Member] - Significant Unobservable Inputs (Level 3) [Member] - Fair Value, Recurring [Member]	Dec. 31, 2020	Dec. 31, 2019
Assets [Member] \| Inventories Component [Member]
Unobservable inputs in Level 3 Valuations of Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items]
Basis	4.30%	28.20%
Transportation cost	10.60%	24.70%
Assets [Member] \| Commodity Derivative Contracts [Member]
Unobservable inputs in Level 3 Valuations of Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items]
Basis	28.30%	16.00%
Transportation cost	1.90%	9.70%
Liabilities [Member] \| Inventories Component [Member]
Unobservable inputs in Level 3 Valuations of Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items]
Basis	13.70%	14.70%
Transportation cost	0.00%	0.00%
Liabilities [Member] \| Commodity Derivative Contracts [Member]
Unobservable inputs in Level 3 Valuations of Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items]
Basis	0.70%	20.20%
Transportation cost	1.30%	3.10%

Derivative Instruments and Hedging Activities (Narrative) (Details) gal in Millions, bu in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($) gal bu	Dec. 31, 2019 USD ($)	Mar. 31, 2020 bu
Derivative [Line Items]
Derivatives used in Net Investment Hedge, Net of Tax	$ (202)	$ 6
Unrealized gain (loss) on interest rate cash flow hedges, after-tax, AOCI	31	(43)
Notional Amount of Nonderivative Instruments	1,500	1,700
Foreign Debt used in Net Investment Hedge, Net of Tax	87	(7)
Gain (Loss) on Foreign Currency Fair Value Hedge Derivatives	8
Designated As Hedging Instrument [Member]
Derivative [Line Items]
Interest Rate Derivative Assets, at Fair Value	61	3
Interest Rate Derivative Liabilities, at Fair Value	15	43
After-tax gain (losses) in AOCI from commodity cash flow hedge transactions	119	(5)
After-tax gain (losses) in AOCI from commodity cash flow hedge transactions expected to be recognized in earnings.	$ 119
Corn processed per month (in bushels) \| bu	56		72
Soybean [Member] \| Minimum [Member] \| Designated As Hedging Instrument [Member]
Derivative [Line Items]
Percentage of Anticipated Commodity Hedged During Historical Hedging Period	27.00%
Percentage of Anticipated Commodity Hedged over Future Hedging Period	0.00%
Soybean [Member] \| Maximum [Member] \| Designated As Hedging Instrument [Member]
Derivative [Line Items]
Percentage of Anticipated Commodity Hedged During Historical Hedging Period	100.00%
Percentage of Anticipated Commodity Hedged over Future Hedging Period	100.00%
Fair Value Hedging [Member]
Derivative [Line Items]
Derivative Liability, Notional Amount		496
Fair Value Hedging [Member] \| Designated As Hedging Instrument [Member]
Derivative [Line Items]
Interest Rate Derivative Assets, at Fair Value		3
Currency Swap [Member] \| Net Investment Hedging [Member]
Derivative [Line Items]
Derivative Liability, Notional Amount	$ 1,300	1,200
Corn [Member] \| Designated As Hedging Instrument [Member]
Derivative [Line Items]
Maximum Length of Time Hedged in Price Risk Cash Flow Hedge	12 months
Corn [Member] \| Minimum [Member] \| Designated As Hedging Instrument [Member]
Derivative [Line Items]
Percentage of Anticipated Commodity Hedged During Historical Hedging Period	20.00%
Percentage of Anticipated Commodity Hedged over Future Hedging Period	20.00%
Corn [Member] \| Maximum [Member] \| Designated As Hedging Instrument [Member]
Derivative [Line Items]
Percentage of Anticipated Commodity Hedged During Historical Hedging Period	38.00%
Percentage of Anticipated Commodity Hedged over Future Hedging Period	33.00%
Foreign Exchange Forward [Member] \| Net Investment Hedging [Member]
Derivative [Line Items]
Derivative Liability, Notional Amount	$ 1,800
Interest Rate Swap [Member] \| Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative Liability, Notional Amount	3,300	$ 4,700
Derivative Asset, Notional Amount	$ 550
Ethanol [Member] \| Designated As Hedging Instrument [Member]
Derivative [Line Items]
Contracted commodity sales volume hedged over future hedging period (in gallons) \| gal	0
Ethanol [Member] \| Minimum [Member] \| Designated As Hedging Instrument [Member]
Derivative [Line Items]
Commodity sales volume hedged during historical hedging period (in gallons) \| gal	0
Ethanol [Member] \| Maximum [Member] \| Designated As Hedging Instrument [Member]
Derivative [Line Items]
Commodity sales volume hedged during historical hedging period (in gallons) \| gal	28

Derivative Instruments and Hedging Activities (Pre-Tax Gains (Losses) On Derivatives Not Designated As Hedging Instruments) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Revenues	$ 17,978	$ 15,126	$ 16,281	$ 14,970	$ 16,329	$ 16,726	$ 16,297	$ 15,304	$ 64,355	$ 64,656	$ 64,341
Cost of products sold									59,902	60,509	60,160
Total gain (loss) recognized in earnings									(706)	44	(53)
Other Nonoperating Income (Expense)									(278)	7	101
Interest expense									339	402	364
Interest Expense [Member]
Derivative [Line Items]
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net									(17)
Total gain (loss) recognized in earnings									(17)
Cost Of Products Sold [Member]
Derivative [Line Items]
FX Contracts									(496)	32	(139)
Commodity Contracts									(68)	24	258
Total gain (loss) recognized in earnings									(564)	56	119
Sales [Member]
Derivative [Line Items]
FX Contracts									28	9	5
Total gain (loss) recognized in earnings									28	9	5
Other Nonoperating Income (Expense)
Derivative [Line Items]
FX Contracts									(153)	(21)	(177)
Total gain (loss) recognized in earnings									$ (153)	$ (21)	$ (177)

Derivative Instruments and Hedging Activities (Fair Value Of Derivatives Not Designated As Hedging Instruments) (Details) - Not Designated As Hedging Instrument [Member] - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
FX Contracts Assets	$ 283	$ 125
Commodity Contracts Assets	2,764	478
Total fair value of derivative assets not designated as hedging instruments	3,047	603
FX Contracts Liabilities	270	120
Commodity Contracts Liabilities	2,034	574
Embedded Derivative, Fair Value of Embedded Derivative Liability	34	0
Embedded Derivative, Fair Value of Embedded Derivative Asset	0	0
Total fair value of derivative liabilities not designated as hedging instruments.	$ 2,338	$ 694

Derivative Instruments and Hedging Activities (Pre-Tax Gains (Losses) On Derivatives Designated As Hedging Instruments) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Interest expense									$ 339	$ 402	$ 364
Revenues	$ 17,978	$ 15,126	$ 16,281	$ 14,970	$ 16,329	$ 16,726	$ 16,297	$ 15,304	64,355	64,656	64,341
Cost of products sold									59,902	60,509	60,160
Sales [Member]
Derivative [Line Items]
Total amount recognized in earnings										(44)	36
Designated As Hedging Instrument [Member]
Derivative [Line Items]
Total amount recognized in earnings									(45)	(100)	(76)
Designated As Hedging Instrument [Member] \| Interest Expense [Member]
Derivative [Line Items]
Interest contracts effective amount recognized in earnings									(2)	1	1
Total amount recognized in earnings									(2)	1	1
Designated As Hedging Instrument [Member] \| Cost Of Products Sold [Member]
Derivative [Line Items]
Commodity Contracts effective amount recognized in earnings									27	(11)	(113)
Total amount recognized in earnings									27	(11)	(113)
Designated As Hedging Instrument [Member] \| Sales [Member]
Derivative [Line Items]
Interest contracts effective amount recognized in earnings									(75)
Commodity Contracts effective amount recognized in earnings									7	(44)	36
Total amount recognized in earnings									(68)
Designated As Hedging Instrument [Member] \| Other Nonoperating Income (Expense)
Derivative [Line Items]
Interest contracts effective amount recognized in earnings									0	(46)
Commodity Contracts effective amount recognized in earnings									(2)
Total amount recognized in earnings									$ (2)	$ (46)	$ 0

Derivative Instruments and Hedging Activities (Fair Value Of Derivatives Designated As Hedging Instruments) (Details) - Designated As Hedging Instrument [Member] - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Assets, Fair Value	$ 0	$ 13
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Liabilities, Fair Value	265	5
Interest Rate Derivative Assets, at Fair Value	61	3
Interest Rate Derivative Liabilities, at Fair Value	15	43
Derivative Instruments in Hedges, Assets, at Fair Value	61	16
Derivative Instruments in Hedges, Liabilities, at Fair Value	$ 280	$ 48

Other Current Assets (Details) - USD ($) $ in Millions	12 Months Ended
Other Current Assets (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Assets [Abstract]
Unrealized gains on derivative contracts	$ 3,108	$ 619
Deferred receivables consideration	0	446
Margin Deposit Assets	500	111
Customer Omnibus Receivable	860	1,014
Financing Receivable, after Allowance for Credit Loss	297	395
Premiums Receivable, Net	35	41
Prepaid Expense, Current	290	318
Biodiesel tax credit	101	541
Tax receivables	680	579
Other Receivables	218	369
Other current assets	135	167
Total other current assets	6,224	4,600
Financing Receivable, Allowance for Credit Loss	4	3
Interest on financing receivables	20	27	$ 26
Reinsurance Recoverables	$ 40	$ 81

Accrued Expenses And Other Payables (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Unrealized losses on derivative contracts	$ 2,584	$ 742
Employee-related Liabilities	396	300
Accrued Income Taxes, Current	41	72
Accrual for Taxes Other than Income Taxes, Current	127	120
Biodiesel tax credit payable	5	332
Liability for Claims and Claims Adjustment Expense	238	284
Contract with Customer, Liability, Current	626	604
Other accruals and payables	926	1,088
Total accrued expenses and other payables	$ 4,943	$ 3,542

Investments In And Advances To Affiliates (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($) entity facility	Dec. 31, 2019 USD ($) entity	Dec. 31, 2018 USD ($)
Schedule Of Equity Method Investments [Line Items]
Amount of credit facility provided to unconsolidated affiliates	$ 106
Number of unconsolidated affiliates provided with credit facilities by the entity \| entity	5
Number of credit facilities with outstanding balance \| facility	2
Number of credit facilities with no outstanding balance \| facility	3
Outstanding balance of credit facilities	$ 36
Revenues from unconsolidated affiliates	4,700	$ 4,900	$ 5,600
Trade accounts receivable due from unconsolidated affiliates	$ 197	$ 156
Wilmar International Limited [Member]
Schedule Of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	22.20%	24.80%
Carrying value of direct investments	$ 3,600
Market value of direct investments	$ 5,000
Minimum [Member]
Schedule Of Equity Method Investments [Line Items]
Line of Credit Facility, Interest Rate During Period	0.00%
Maximum [Member]
Schedule Of Equity Method Investments [Line Items]
Line of Credit Facility, Interest Rate During Period	2.46%
Equity Method Investments [Member]
Schedule Of Equity Method Investments [Line Items]
Number of unconsolidated affiliates \| entity	60	63
Undistributed earnings of unconsolidated affiliates	$ 2,600

Investments In And Advances To Affiliates (Combined Balance Sheets And Statements Of Earnings Of The Company's Unconsolidated Affiliates) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Combined balance sheets and statements of earnings of the Company's unconsolidated affiliates:
Current assets	$ 27,286				$ 21,347				$ 27,286	$ 21,347
Current liabilities	(18,182)				(13,734)				(18,182)	(13,734)
Non-current liabilities	(11,441)				(10,980)				(11,441)	(10,980)
Revenues	17,978	$ 15,126	$ 16,281	$ 14,970	16,329	$ 16,726	$ 16,297	$ 15,304	64,355	64,656	$ 64,341
Gross Profit	1,352	$ 1,042	$ 1,108	$ 951	1,169	$ 1,078	$ 972	$ 928	4,453	4,147	4,181
Net earnings including noncontrolling interests									1,782	1,379	1,815
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Combined balance sheets and statements of earnings of the Company's unconsolidated affiliates:
Current assets	29,508				26,695				29,508	26,695
Non-current assets	23,853				22,627				23,853	22,627
Current liabilities	(25,969)				(23,580)				(25,969)	(23,580)
Non-current liabilities	(7,191)				(5,913)				(7,191)	(5,913)
Noncontrolling interests	(1,075)				(1,066)				(1,075)	(1,066)
Net assets	$ 19,126				$ 18,763				19,126	18,763
Revenues									59,195	50,596	53,143
Gross Profit									5,070	5,334	5,118
Net earnings including noncontrolling interests									$ 2,093	$ 1,455	$ 1,881

Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Goodwill
Goodwill	$ 3,451	$ 3,385
Carbohydrate Solutions [Member]
Goodwill
Goodwill	263	261
Nutrition [Member]
Goodwill
Goodwill	2,972	2,914
Ag Services and Oilseeds [Member]
Goodwill
Goodwill	212	206
Other Segments [Member]
Goodwill
Goodwill	$ 4	$ 4

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		$ 733
Goodwill	$ 3,451	3,385
Goodwill and Intangible Asset Impairment	26	11	$ 9
Amortization of Intangible Assets	173	$ 165	129
Amortization expense of intangible assets next 12 months	188
Finite-Lived Intangible Assets, Amortization Expense, Year Two	178
Finite-Lived Intangible Assets, Amortization Expense, Year Three	164
Finite-Lived Intangible Assets, Amortization Expense, Year Four	153
Finite-Lived Intangible Assets, Amortization Expense, Year Five	132
Series of Individually Immaterial Business Acquisitions [Member]
Goodwill
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill			132
Goodwill	$ 2		$ 187

Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Schedule of Other Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	$ 3,036	$ 3,039
Finite-Lived Intangible Assets, Accumulated Amortization	(1,074)	(948)
Intangible Assets, Net (Excluding Goodwill)	1,962	2,091
Trademarks and Brands [Member]
Schedule of Other Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	429	440
Intangible Assets, Net (Excluding Goodwill)	429	440
Recipes and Other [Member]
Schedule of Other Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	1	1
Intangible Assets, Net (Excluding Goodwill)	1	1
Use Rights [Member]
Schedule of Other Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	177	168
Finite-Lived Intangible Assets, Accumulated Amortization	(35)	(30)
Intangible Assets, Net (Excluding Goodwill)	142	138
Computer Software, Intangible Asset [Member]
Schedule of Other Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	464	425
Finite-Lived Intangible Assets, Accumulated Amortization	(354)	(305)
Intangible Assets, Net (Excluding Goodwill)	110	120
Trademarks and Brands [Member]
Schedule of Other Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	39	35
Finite-Lived Intangible Assets, Accumulated Amortization	(16)	(13)
Intangible Assets, Net (Excluding Goodwill)	23	22
Customer Lists [Member]
Schedule of Other Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	1,196	1,194
Finite-Lived Intangible Assets, Accumulated Amortization	(390)	(310)
Intangible Assets, Net (Excluding Goodwill)	806	884
Recipes and Other [Member]
Schedule of Other Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	489	538
Finite-Lived Intangible Assets, Accumulated Amortization	(200)	(234)
Intangible Assets, Net (Excluding Goodwill)	289	304
Technology-Based Intangible Assets [Member]
Schedule of Other Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	241	238
Finite-Lived Intangible Assets, Accumulated Amortization	(79)	(56)
Intangible Assets, Net (Excluding Goodwill)	$ 162	$ 182
Minimum [Member]
Schedule of Other Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	1 year
Minimum [Member] \| Use Rights [Member]
Schedule of Other Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	1 year
Minimum [Member] \| Computer Software, Intangible Asset [Member]
Schedule of Other Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	2 years
Minimum [Member] \| Trademarks and Brands [Member]
Schedule of Other Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years
Minimum [Member] \| Customer Lists [Member]
Schedule of Other Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	5 years
Minimum [Member] \| Recipes and Other [Member]
Schedule of Other Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	3 years
Minimum [Member] \| Technology-Based Intangible Assets [Member]
Schedule of Other Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	6 years
Maximum [Member]
Schedule of Other Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	50 years
Maximum [Member] \| Use Rights [Member]
Schedule of Other Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	8 years
Maximum [Member] \| Computer Software, Intangible Asset [Member]
Schedule of Other Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	50 years
Maximum [Member] \| Trademarks and Brands [Member]
Schedule of Other Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	20 years
Maximum [Member] \| Customer Lists [Member]
Schedule of Other Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	30 years
Maximum [Member] \| Recipes and Other [Member]
Schedule of Other Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	35 years
Maximum [Member] \| Technology-Based Intangible Assets [Member]
Schedule of Other Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	20 years

Debt Financing Arrangements (Narrative) (Details) € in Millions, $ in Millions					12 Months Ended
	Sep. 28, 2020 USD ($)	Aug. 26, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 27, 2020 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2020 EUR (€)	Sep. 23, 2020 USD ($)
Debt And Financing Arrangements [Line Items]
Debt Instrument, Issuance Date				Mar. 27, 2020
Discount amortization expense included in interest expense related to the notes					$ 13	$ 12	$ 10
Excess of fair value over carrying value of long-term debt					1,600
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months					2
Long-term Debt, Maturities, Repayments of Principal in Year Two					0
Long-term Debt, Maturities, Repayments of Principal in Year Three					1,100
Long-term Debt, Maturities, Repayments of Principal in Year Four					1
Long-term Debt, Maturities, Repayments of Principal in Year Five					1,300
Lines of credit					10,200
Unused lines of credit					$ 6,600
Weighted average interest rate on short term borrowings (as a percent)					0.45%	1.23%		0.45%
Outstanding standby letters of credit and surety bonds					$ 1,200	$ 1,400
(Gain) Loss on Extinguishment of Debt					$ 409	$ 0	$ 0
Notes Four Point Five Percent due Two Thousand Forty-Nine [Member]
Debt And Financing Arrangements [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					4.50%			4.50%
Debt instrument, maturity year					2049
Debt Instrument, Face Amount					$ 600
Notes Three Point Three Hundred Seventy-Five Percent due in Two Thousand Twenty-Two [Member]
Debt And Financing Arrangements [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.375%					3.375%
Debt instrument, maturity year						2022
Debt Instrument, Face Amount						$ 400
Extinguishment of Debt, Amount	$ 400
(Gain) Loss on Extinguishment of Debt					$ 19
Notes One Percent Due in Two Thousand Twenty-Five [Member]
Debt And Financing Arrangements [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					1.00%			1.00%
Debt instrument, maturity year					2025
Debt Instrument, Face Amount \| €								€ 650
Debentures [Member]
Debt And Financing Arrangements [Line Items]
(Gain) Loss on Extinguishment of Debt					$ 370
Debt Instrument, Repurchased Face Amount									$ 665
Debt Instrument, Repurchase Amount									$ 933
Other Long-term Debt [Member]
Debt And Financing Arrangements [Line Items]
Extinguishment of Debt, Amount	$ 200
(Gain) Loss on Extinguishment of Debt					$ 6
Bonds Zero Percent Due in 2023 [Member]
Debt And Financing Arrangements [Line Items]
Debt Instrument, Issuance Date		Aug. 26, 2020
Debt Instrument, Interest Rate, Stated Percentage		0.00%
Debt instrument, maturity year					2023
Debt Instrument, Face Amount		$ 300
Debt Instrument, Convertible, Terms of Conversion Feature		Effective October 6, 2020, holders of the Bonds will be entitled to receive 50,597.0453 Wilmar shares (the “Exchange Property per Bond”) for each $200,000 principal amount of the Bonds, on the exercise of their exchange rights, subject to dividend adjustments.
Debt Instrument, Call Feature		Effective February 26, 2022, ADM Ag has the option to call the outstanding Bonds at their principal amount if the value of the Exchange Property per Bond exceeds 120% of the principal amount for 20 consecutive trading days.
Notes Two Point Seventy-Five Percent, Due in 2025
Debt And Financing Arrangements [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					2.75%			2.75%
Debt instrument, maturity year					2025
Proceeds from notes recorded as long-term debt				$ 492
Debt Instrument, Face Amount					$ 500
Notes Two Point Twenty-Five Percent Due in 2030
Debt And Financing Arrangements [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					3.25%			3.25%
Debt instrument, maturity year					2030
Proceeds from notes recorded as long-term debt				$ 988
Debt Instrument, Face Amount					$ 1,000
Debentures four point four seven nine percent due in two thousand twenty one [Member]
Debt And Financing Arrangements [Line Items]
Debt Instrument, Interest Rate, Stated Percentage			4.479%			4.479%
Debt instrument, maturity year						2021
Debt Instrument, Face Amount						$ 516
Extinguishment of Debt, Amount			$ 495
(Gain) Loss on Extinguishment of Debt					14
Commercial Paper [Member]
Debt And Financing Arrangements [Line Items]
Lines of credit					5,000
Amount utilized from lines of credit facility					1,700
Accounts Receivable Securitization Facility [Member]
Debt And Financing Arrangements [Line Items]
Lines of credit					1,800
Amount utilized from lines of credit facility					$ 1,600

Debt Financing Arrangements (Long-Term Debt) (Details) € in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2020 EUR (€)	Sep. 28, 2020	Aug. 26, 2020 USD ($)	Jun. 30, 2020
Debt Instruments [Line Items]
Long-term Debt	$ 7,887	$ 7,679
Current maturities	(2)	(7)
Total long-term debt	7,885	7,672
Notes One Point Seventy Five Percent Due In Two Thousand Twenty-Three [Member]
Debt Instruments [Line Items]
Long-term Debt	$ 731	669
Debt Instrument, Face Amount \| €			€ 600
Debt Instrument, Interest Rate, Stated Percentage	1.75%		1.75%
Debt instrument, maturity year	2023
Notes Four Point Five Percent due Two Thousand Forty-Nine [Member]
Debt Instruments [Line Items]
Long-term Debt	$ 588	587
Debt Instrument, Face Amount	$ 600
Debt Instrument, Interest Rate, Stated Percentage	4.50%		4.50%
Debt instrument, maturity year	2049
Notes Two Point Five Percent Due in Two Thousand Twenty-Six [Member]
Debt Instruments [Line Items]
Long-term Debt	$ 995	994
Debt Instrument, Face Amount	$ 1,000
Debt Instrument, Interest Rate, Stated Percentage	2.50%		2.50%
Debt instrument, maturity year	2026
Notes One Percent Due in Two Thousand Twenty-Five [Member]
Debt Instruments [Line Items]
Long-term Debt	$ 789	723
Debt Instrument, Face Amount \| €			€ 650
Debt Instrument, Interest Rate, Stated Percentage	1.00%		1.00%
Debt instrument, maturity year	2025
Debentures four point four seven nine percent due in two thousand twenty one [Member]
Debt Instruments [Line Items]
Long-term Debt	$ 0	500
Debt Instrument, Face Amount		$ 516
Debt Instrument, Interest Rate, Stated Percentage		4.479%				4.479%
Debt instrument, maturity year		2021
Notes Three Point Seventy-Five Percent Due in Two Thousand Forty-Seven [Member]
Debt Instruments [Line Items]
Long-term Debt	402	$ 493
Debt Instrument, Face Amount	$ 408	500
Debt Instrument, Interest Rate, Stated Percentage	3.75%		3.75%
Debt instrument, maturity year	2047
Debentures five point three seven five percent due in two thousand thirty five [Member}
Debt Instruments [Line Items]
Long-term Debt	$ 424	461
Debt Instrument, Face Amount	$ 432	470
Debt Instrument, Interest Rate, Stated Percentage	5.375%		5.375%
Debt instrument, maturity year	2035
Notes Three Point Three Hundred Seventy-Five Percent due in Two Thousand Twenty-Two [Member]
Debt Instruments [Line Items]
Long-term Debt	$ 0	398
Debt Instrument, Face Amount		$ 400
Debt Instrument, Interest Rate, Stated Percentage		3.375%		3.375%
Debt instrument, maturity year		2022
Debentures five point seven six five percent due in two thousand forty one [Member]
Debt Instruments [Line Items]
Long-term Debt	297	$ 378
Debt Instrument, Face Amount	$ 297	378
Debt Instrument, Interest Rate, Stated Percentage	5.765%		5.765%
Debt instrument, maturity year	2041
Debentures five point nine three five percent due in two thousand thirty two [Member]
Debt Instruments [Line Items]
Long-term Debt	$ 333	379
Debt Instrument, Face Amount	$ 336	383
Debt Instrument, Interest Rate, Stated Percentage	5.935%		5.935%
Debt instrument, maturity year	2032
Debentures four point zero one six percent due in two thousand forty three [Member]
Debt Instruments [Line Items]
Long-term Debt	$ 255	389
Debt Instrument, Face Amount	$ 371	570
Debt Instrument, Interest Rate, Stated Percentage	4.016%		4.016%
Debt instrument, maturity year	2043
Debentures four point five three five percent due in two thousand forty two [Member]
Debt Instruments [Line Items]
Long-term Debt	$ 281	384
Debt Instrument, Face Amount	$ 383	528
Debt Instrument, Interest Rate, Stated Percentage	4.535%		4.535%
Debt instrument, maturity year	2042
Debentures seven percent due in two thousand thirty one [Member]
Debt Instruments [Line Items]
Long-term Debt	$ 159	163
Debt Instrument, Face Amount	$ 160	164
Debt Instrument, Interest Rate, Stated Percentage	7.00%		7.00%
Debt instrument, maturity year	2031
Debentures six point six two five percent due in two thousand twenty nine [Member]
Debt Instruments [Line Items]
Long-term Debt	$ 144	159
Debt Instrument, Face Amount	$ 144	160
Debt Instrument, Interest Rate, Stated Percentage	6.625%		6.625%
Debt instrument, maturity year	2029
Debentures six point ninety-five due in two thousand ninety seven [Member]
Debt Instruments [Line Items]
Long-term Debt	$ 154	155
Debt Instrument, Face Amount	$ 157	159
Debt Instrument, Interest Rate, Stated Percentage	6.95%		6.95%
Debt instrument, maturity year	2097
Debentures seven point five percent due in two thousand twenty seven [Member]
Debt Instruments [Line Items]
Long-term Debt	$ 146	150
Debt Instrument, Face Amount	$ 147	150
Debt Instrument, Interest Rate, Stated Percentage	7.50%		7.50%
Debt instrument, maturity year	2027
Debentures six point forty-five percent due in two thousand thirty eight [Member]
Debt Instruments [Line Items]
Long-term Debt	$ 102	126
Debt Instrument, Face Amount	$ 103	127
Debt Instrument, Interest Rate, Stated Percentage	6.45%		6.45%
Debt instrument, maturity year	2038
Debentures six point seventy-five percent due in two thousand twenty seven [Member]
Debt Instruments [Line Items]
Long-term Debt	$ 103	117
Debt Instrument, Face Amount	$ 103	118
Debt Instrument, Interest Rate, Stated Percentage	6.75%		6.75%
Debt instrument, maturity year	2027
Other [Member]
Debt Instruments [Line Items]
Long-term Debt	$ 174	454
Notes Two Point Twenty-Five Percent Due in 2030
Debt Instruments [Line Items]
Long-term Debt	987	0
Debt Instrument, Face Amount	$ 1,000
Debt Instrument, Interest Rate, Stated Percentage	3.25%		3.25%
Debt instrument, maturity year	2030
Notes Two Point Seventy-Five Percent, Due in 2025
Debt Instruments [Line Items]
Long-term Debt	$ 493	0
Debt Instrument, Face Amount	$ 500
Debt Instrument, Interest Rate, Stated Percentage	2.75%		2.75%
Debt instrument, maturity year	2025
Bonds Zero Percent Due in 2023 [Member]
Debt Instruments [Line Items]
Long-term Debt	$ 330	$ 0
Debt Instrument, Face Amount					$ 300
Debt Instrument, Interest Rate, Stated Percentage					0.00%
Debt instrument, maturity year	2023

Stock Compensation (Narrative) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grants (in shares)	19,400
Total compensation expense for option grants, Restricted Stock Awards and PSU's	$ 151	$ 89	$ 109
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
The weighted-average remaining contractual term of options outstanding	4 years
The weighted-average remaining contractual term of options exercisable	4 years
The aggregate intrinsic value of options outstanding (in dollars)	$ 77
The aggregate intrinsic value of options exercisable (in dollars)	69
The weighted-average grant-date fair values of options granted (in dollars per share)		$ 7.88	$ 6.95
The total intrinsic values of options exercised (in dollars)	32	$ 15	$ 36
Cash proceeds received from options exercised (in dollars)	$ 49	$ 27	$ 55
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Restricted Stock Awards And PSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares or units granted as Restricted Stock Awards and PSUs (in shares)	2,732	2,600	2,500
Total unrecognized compensation expense	$ 107
Period during which unrecognized compensation expense is expected to be recognized	3 years
Amount to be recognized as compensation expense year 1	$ 67
Amount to be recognized as compensation expense year 2	34
Amount to be recognized as compensation expense year 3	$ 6
Weighted average grant-date fair value of Restricted Stock Awards and PSU's, Granted (in dollars per share)	$ 45.59	$ 42.11	$ 42.72
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Total fair value of Restricted Stock Awards vested during the period	$ 63
Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Minimum [Member] \| Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Maximum [Member] \| Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years

Stock Compensation (Assumptions Used To Value Share-Based Compensation) (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Equity [Abstract]
Dividend yield (as a percent)	3.00%	3.00%
Risk-free interest rate (as a percent)	2.00%	2.00%
Stock volatility (as a percent)	22.00%	23.00%
Average expected life (in years)	6 years	6 years

Stock Compensation (Summary Of Option Activity During The Period) (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Equity [Abstract]
Shares under option at beginning of period \| shares	8,048
Shares under option, Granted \| shares	0
Shares under option, Exercised \| shares	(1,778)
Shares under option, Forfeited or expired \| shares	(1)
Shares under option at end of period \| shares	6,269
Shares under option, Exercisable \| shares	5,801
Weighted-average exercise price of Shares under option at beginning of period (in dollars per share) \| $ / shares	$ 35.20
Weighted-average exercise price of Shares under option, Granted (in dollars per share) \| $ / shares	0.00
Weighted-average exercise price of Shares under option, Exercised (in dollars per share) \| $ / shares	27.41
Weighted-average exercise price of Shares under option, Forfeited or expired (in dollars per share) \| $ / shares	34.52
Weighted-average exercise price of Shares under option at end of period (in dollars per share) \| $ / shares	37.40
Weighted-average exercise price of Shares under option, Exercisable (in dollars per share) \| $ / shares	$ 37.74

Stock Compensation (Summary Of Restricted Stock Awards And PSUs Activity During The Period) (Details) - Restricted Stock Awards And PSUs [Member] - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restricted Stock Awards and PSU's, Non-vested at beginning of period	6,722
Restricted Stock Awards and PSU's, Granted	2,732	2,600	2,500
Restricted Stock Awards, Vested	(1,417)
Restricted Stock Awards and PSU's, Forfeited	(665)
Restricted Stock Awards and PSU's, Non-vested at end of period	7,372	6,722
Weighted average grant-date fair value of Restricted Stock Awards and PSU's, Non-vested at beginning of period (in dollars per share)	$ 42.97
Weighted average grant-date fair value of Restricted Stock Awards and PSU's, Granted (in dollars per share)	45.59	$ 42.11	$ 42.72
Weighted average grant-date fair value of Restricted Stock Awards and PSU's, Vested (in dollars per share)	44.49
Weighted average grant-date fair value of Restricted Stock Awards and PSU's, Forfeited (in dollars per share)	43.95
Weighted average grant-date fair value of Restricted Stock Awards and PSU's, Non-vested at end of period (in dollars per share)	$ 43.56	$ 42.97

Other (Income) Expense - Net (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Instruments [Line Items]
Defined benefit plan net periodic benefit cost (income) other than service cost	$ (33)	$ (15)	$ (10)

Other (Income) Expense - Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Income and Expenses [Abstract]
(Gain) loss on sale and revaluation of assets	$ (161)	$ 39	$ (43)
Pension settlement	0	0	117
Other (income) expense - net	(117)	(32)	27
Other Nonoperating Income (Expense)	$ (278)	$ 7	$ 101

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Taxes [Line Items]
Foreign earnings, as a percentage to total foreign earnings	59.00%	61.00%	56.00%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%	21.00%
Tax Cuts and Jobs Act, Transition Tax for Accumulated Foreign Earnings, Liability	$ 164
Effective income tax rate reconciliation, GILTI, Amount	259	$ 105	$ 101
Effective income tax rate reconciliation, FDII, Amount	12	1	$ 101
Tax assets related to net operating loss carry-forwards related to certain international subsidiaries	470	411
Deferred Tax Assets, Valuation Allowance	339	325
Tax assets related to net operating loss carry-forwards related to capital losses	70	62
State tax attributes	79	74
Approximate undistributed earnings of foreign subsidiaries and affiliated corporate joint venture companies accounted for on the equity method	12,500
Deferred Tax Liabilities, Investment in Noncontrolled Affiliates	64	72
Accrued interest and penalties on unrecognized tax benefits	33	26
Positive impact on the tax expense if the total amount of unrecognized tax benefits were recognized by the Company at one time	151
Argentine Tax Authorities [Member]
Income Taxes [Line Items]
Income tax assessment - Tax	10
Income tax assessment - Interest and Penalties	42
Estimated additional tax assessment	31
Additional income tax assessment - Interest and Penalties	27
Foreign [Member]
Income Taxes [Line Items]
Tax assets related to net operating loss carry-forwards related to certain international subsidiaries with no expiration date	357
Tax assets related to net operating loss carry-forwards related to certain international subsidiaries with expiration date	113
Valuation allowance recorded against tax assets related to net operating loss carry-forwards related to certain international subsidiaries	197	193
Tax and Customs Administration, Netherlands [Member]
Income Taxes [Line Items]
Income tax assessment - Tax	99
Additional income tax assessment - Interest and Penalties	38
SEC Schedule, 12-09, Valuation Allowance, Other Tax Carryforward [Member]
Income Taxes [Line Items]
Deferred Tax Assets, Valuation Allowance	70	62
SEC Schedule, 12-09, Valuation Allowance, Operating Loss Carryforward [Member]
Income Taxes [Line Items]
Deferred Tax Assets, Valuation Allowance	$ 72	$ 70

Income Taxes (Earnings Before Income Taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
United States	$ 442	$ 756	$ 972
Foreign	1,441	832	1,088
Earnings Before Income Taxes	$ 1,883	$ 1,588	$ 2,060

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=68072869&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Income Taxes (Significant Components Of Income Taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current
Federal	$ (164)	$ 37	$ 96
State	4	11	25
Foreign	186	181	171
Deferred
Federal	41	47	(55)
State	(10)	1	(16)
Foreign	44	(68)	24
Total Income Taxes	$ 101	$ 209	$ 245

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes (Significant Components Of Deferred Tax Liabilities And Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Deferred tax liabilities
Property, plant, and equipment	$ 903	$ 1,012
Deferred Tax Liabilities, Intangible Assets	334	286
Deferred Tax Liabilities, Leasing Arrangements	223	220
Equity in earnings of affiliates	64	72
Deferred Tax Liabilities, Inventory	25	32
Debt exchange	53	80
Deferred Tax Liabilities, Deferred Expense, Reserves and Accruals	195	20
Other	173	109
Deferred Tax Liabilities, Gross	1,970	1,831
Deferred tax assets
Pension and postretirement benefits	163	155
Deferred tax assets, leasing arrangements	227	225
Stock compensation	80	62
Foreign tax loss carryforwards	470	411
Capital loss carryforwards	70	62
State tax attributes	79	74
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Reserves	42	0
Other	136	147
Gross deferred tax assets	1,267	1,136
Valuation allowances	(339)	(325)
Net deferred tax assets	928	811
Deferred Tax Liabilities, Net, Classification [Abstract]
Net deferred tax liabilities	(1,042)	(1,020)
Domestic Tax Authority [Member]
Deferred tax liabilities
Deferred Tax Liabilities, Gross	957	969
Foreign [Member]
Deferred tax liabilities
Deferred Tax Liabilities, Gross	345	225
Deferred tax assets
Net deferred tax assets	$ 260	$ 174

Income Taxes (Reconciliation Of The Statutory Federal Income Tax Rate To The Company's Effective Tax Rate On Earnings) (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Statutory rate (as a percent)	21.00%	21.00%	21.00%
State income taxes, net of federal tax benefit (as a percent)	(0.30%)	0.60%	0.30%
Foreign earnings taxed at rates other than the U.S. statutory rate (as a percent)	(4.50%)	(0.90%)	(1.50%)
Foreign currency remeasurement (as a percent)	(1.10%)	0.70%	(1.90%)
Income tax adjustments to filed returns (as a percent)	(0.40%)	0.20%	(1.90%)
Biodiesel credit (as a percent)	(3.30%)	(7.50%)	(2.30%)
Effective Income Tax Rate Reconciliation, Tax Credit, Other, Percent	(8.00%)	(3.60%)	0.00%
Effective Income Tax Rate Reconciliation, GILTI, as a Percent	2.90%	1.40%	1.00%
Effective Income Tax Rate Reconciliation, Foreign Derived Intangible Income Deduction, as a Percent	(0.10%)	0.00%	(1.00%)
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent	(0.30%)	0.40%	(1.10%)
Other (as a percent)	(0.50%)	0.90%	(0.70%)
Effective income tax rate	5.40%	13.20%	11.90%

Income Taxes (Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Beginning balance	$ 130	$ 107
Additions related to current years' tax positions	2	8
Additions related to prior years' tax positions	37	0
Unrecognized Tax Benefits, Decrease Resulting from Acquisition	(1)
Unrecognized Tax Benefits, Increase Resulting from Acquisition		32
Reductions related to prior years' tax positions	(3)	(14)
Reductions due to lapse of statue of limitations	(9)	(2)
Settlements with tax authorities	(5)	(1)
Ending balance	$ 151	$ 130

Leases (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Operating Leased Assets [Line Items]
Operating Lease, Right-of-Use Asset	$ 1,102	$ 971
Operating Lease, Liability, Current	261	215
Operating Lease, Liability, Noncurrent	$ 863	$ 781
Minimum [Member]
Operating Leased Assets [Line Items]
Lessee, Operating Lease, Renewal Term	10 months
Maximum [Member]
Operating Leased Assets [Line Items]
Lessee, Operating Lease, Renewal Term	49 years

Leases Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
Leases Lease Cost (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating Lease, Cost	$ 315	$ 275
Short-term Lease, Cost	101	99
Lease, Cost	416	374
Operating Lease, Payments	302	209
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 314	$ 302
Operating Lease, Weighted Average Remaining Lease Term	7 years	7 years
Operating Lease, Weighted Average Discount Rate, Percent	4.20%	4.60%

Liability Maturity (Details) $ in Millions	Dec. 31, 2020 USD ($)
Leases [Abstract]
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months	$ 302
Lessee, Operating Lease, Liability, Payments, Due Year Two	268
Lessee, Operating Lease, Liability, Payments, Due Year Three	218
Lessee, Operating Lease, Liability, Payments, Due Year Four	156
Lessee, Operating Lease, Liability, Payments, Due Year Five	95
Lessee, Operating Lease, Liability, Payments, Due after Year Five	260
Lessee, Operating Lease, Liability, Payments, Due	1,299
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(175)
Operating Lease, Liability	$ 1,124

Employee Benefit Plans (Narrative) (Details) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Nov. 02, 2018 employee
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Remeasurement due to Settlement		$ 48
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment		51
Number of retirees \| employee				3,800
Pension settlement	$ 0	$ 0	$ (117)
Percentage of non-matching employer's contribution to eligible participants (as a percent)	1.00%
Employer's Common stock held under 401 (k) plan (in shares) \| shares	7
Market value of employer's Common stock held under 401 (k) plan	$ 371
Cash dividend received on employer's Common stock held under 401 (k) plan	$ 11
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Asset allocation	100.00%	100.00%
Defined Benefit Plan, Plan Assets, Payment for Settlement	$ 18	$ 10
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Remeasurement due to Settlement	17	(35)	528
Pension settlement	0	(96)	(117)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment	0	0	1
Accumulated other comprehensive income, unrecognized prior service cost (credit)	113
Accumulated other comprehensive income, unrecognized actuarial losses	639
Defined Benefit Plan, Plans with Benefit Obligations in Excess of Plan Assets, Aggregate Projected Benefit obligation	2,600	2,300
Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation	2,600	2,200
Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation	2,500	2,200
Defined Benefit Plan, Pension Plan with Projected Benefit Obligation in Excess of Plan Assets, Plan Assets	1,900	1,600
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation	2,500	2,100
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Plan Assets	1,900	1,500
Accumulated benefit obligation	2,900	2,600
Contributions and expected future benefit payments	29
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Remeasurement due to Settlement	0	(3)
Pension settlement	0	(3)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment	0	$ 0	$ 0
Accumulated other comprehensive income, unrecognized prior service cost (credit)	2
Accumulated other comprehensive income, unrecognized actuarial losses	$ 57
Annual rate of increase in per capita cost of covered health care benefits assumed for transition period (as a percent)	6.10%
Annual rate for per capita cost of covered health care benefits assumed for 2025 and thereafter (as a percent)	4.50%
Year ultimate rate assumed for per capita cost of health care benefits is to be reached	2029
Contributions and expected future benefit payments	$ 16

Employee Benefit Plans (Retirement Plan Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Settlement charges	$ 0	$ 0	$ 117
Defined contribution plans	54	58	50
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost (benefits earned during the period)	61	58	66
Interest cost	70	82	93
Expected return on plan assets	(126)	(115)	(146)
Settlement charges	0	96	117
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment	0	0	(1)
Amortization of actuarial loss	38	26	55
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	(19)	(19)	(19)
Net periodic defined benefit plan expense	24	128	165
Pension Expense	78	186	215
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost (benefits earned during the period)	1	2	2
Interest cost	4	5	5
Settlement charges	0	3
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment	0	0	0
Amortization of actuarial loss	6	4	3
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	(13)	(15)	(15)
Net periodic defined benefit plan expense	(2)	(1)	(5)
Pension Expense	$ (2)	$ (1)	$ (5)

Employee Benefit Plans (Changes In Defined Benefit Obligation And Fair Value Of Defined Benefit Plan Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets, beginning	$ 2,018
Fair value of plan assets, ending	2,337	$ 2,018
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation, beginning	2,650	2,323
Service cost	61	58	$ 66
Interest cost	70	82	93
Actuarial loss (gain)	285	363
Employee contributions	2	2
Settlements	(17)	35	(528)
Defined Benefit Plan, Benefit Obligation, Business Combination	0	26
Benefits paid	(84)	(249)
Plan Amendments	0	(2)
Foreign currency effects	47	12
Benefit obligation, ending	3,014	2,650	2,323
Fair value of plan assets, beginning	2,018	1,736
Actual return on plan assets	317	348
Employer contributions	85	166
Employee contributions	2	2
Settlements	(18)	(10)
Defined Benefit Plan, Plan Assets, Business Combination	0	7
Benefits Paid	(84)	(249)
Foreign currency effects	17	18
Fair value of plan assets, ending	2,337	2,018	1,736
Funded status	(677)	(632)
Prepaid benefit cost	29	38
Accrued benefit liability - current	(19)	(18)
Accrued benefit liability - long-term	(687)	(652)
Net amount recognized in the balance sheet	(677)	(632)
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation, beginning	167	144
Service cost	1	2	2
Interest cost	4	5	5
Actuarial loss (gain)	17	24
Settlements	0	3
Defined Benefit Plan, Benefit Obligation, Business Combination	0	3
Benefits paid	(14)	(14)
Plan Amendments	0	0
Foreign currency effects	(2)	0
Benefit obligation, ending	173	167	$ 144
Fair value of plan assets, beginning	0
Employer contributions	14	14
Defined Benefit Plan, Plan Assets, Business Combination	0	0
Benefits Paid	(14)	(14)
Fair value of plan assets, ending	0	0
Funded status	(173)	(167)
Accrued benefit liability - current	(16)	(16)
Accrued benefit liability - long-term	(157)	(151)
Net amount recognized in the balance sheet	$ (173)	$ (167)

Employee Benefit Plans (Principal Assumptions In Developing Net Periodic Pension Cost) (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Weighted-Average Interest Crediting Rate	2.20%	3.30%
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate (as a percent)	2.90%	3.90%
Expected return on plan assets (as a percent)	6.60%	6.50%
Rate of compensation increase (as a percent)	4.90%	4.90%
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate (as a percent)	3.20%	4.30%

Employee Benefit Plans (Principal Assumptions In Developing Year-End Actuarial Present Value Of The Projected Benefit Obligation) (Details)	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Weighted-Average Interest Crediting Rate	2.00%	2.20%
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate (as a percent)	2.30%	2.90%
Rate of compensation increase (as a percent)	4.80%	4.90%
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate (as a percent)	2.30%	3.20%

Employee Benefit Plans (Schedule Of Fair Value Of Plan Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 2,337	$ 2,018
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	251	187
Equity Securities [Member] \| Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	251	187
Mutual Fund [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	666	575
Mutual Fund [Member] \| Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	666	575
Common collective trust funds - International equity [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	316	281
Common collective trust funds - U.S. equity [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	418	391
Debt instruments - Corporate bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	328	249
Debt instruments - Corporate bonds [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	328	249
Debt instruments - U.S. Treasury instruments [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	345	322
Debt instruments - U.S. Treasury instruments [Member] \| Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	345	322
Debt instruments - U.S. government agency, state and local government bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4	4
Debt instruments - U.S. government agency, state and local government bonds [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4	4
Other Debt Instruments [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	9	9
Other Debt Instruments [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	9	9
Fair Value, Recurring [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,603	1,346
Fair Value, Recurring [Member] \| Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,262	1,084
Fair Value, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 341	$ 262

Employee Benefit Plans (Actual Asset Allocation For Global Pension Plan Assets) (Details) - Pension Benefits [Member]	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Asset allocation	100.00%	100.00%
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Asset allocation	54.00%	53.00%
Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Asset allocation	35.00%	36.00%
Other Pension Plan Assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Asset allocation	11.00%	11.00%
UNITED STATES
Defined Benefit Plan Disclosure [Line Items]
Percentage of U.S. pension plan to global pension plan assets (as a percent)	75.00%
UNITED STATES \| Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Asset allocation	60.00%
UNITED STATES \| Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Asset allocation	40.00%
Foreign Plan [Member] \| Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Asset allocation	36.00%
Foreign Plan [Member] \| Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Asset allocation	20.00%
Foreign Plan [Member] \| Other Pension Plan Assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Asset allocation	44.00%

Employee Benefit Plans (Expected Future Benefit Payments To Be Paid) (Details) $ in Millions	Dec. 31, 2020 USD ($)
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months	$ 84
Defined Benefit Plan, Expected Future Benefit Payment, Year Two	90
Defined Benefit Plan, Expected Future Benefit Payment, Year Three	96
Defined Benefit Plan, Expected Future Benefit Payment, Year Four	101
Defined Benefit Plan, Expected Future Benefit Payment, Year Five	108
Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter	620
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months	16
Defined Benefit Plan, Expected Future Benefit Payment, Year Two	15
Defined Benefit Plan, Expected Future Benefit Payment, Year Three	14
Defined Benefit Plan, Expected Future Benefit Payment, Year Four	14
Defined Benefit Plan, Expected Future Benefit Payment, Year Five	13
Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter	$ 50

Shareholders' Equity (Details) - USD ($) $ in Millions	12 Months Ended
Shareholders' Equity (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Accumulated other comprehensive income (loss)
Balance of Accumulated Other Comprehensive Income (Loss) at beginning of period	$ (2,405)
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	(2,604)	$ (2,405)
Foreign Currency Translation Adjustment [Member]
Accumulated Other Comprehensive Income [Line Items]
Other Comprehensive Income (Loss), before Reclassifications, before Tax	29	(220)
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax	(398)	35
Accumulated other comprehensive income (loss)
Balance of Accumulated Other Comprehensive Income (Loss) at beginning of period	(2,152)	(1,962)
Net realized gains (losses)	0	7
Other Comprehensive Income (Loss), Tax	97	(12)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(272)	(190)
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	(2,424)	(2,152)
Deferred Gain (Loss) On Hedging Activities [Member]
Accumulated Other Comprehensive Income [Line Items]
Other Comprehensive Income (Loss), before Reclassifications, before Tax	209	(191)
Accumulated other comprehensive income (loss)
Balance of Accumulated Other Comprehensive Income (Loss) at beginning of period	(12)	61
Net realized gains (losses)	45	100
Other Comprehensive Income (Loss), Tax	(57)	18
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	197	(73)
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	185	(12)
Pension Liability Adjustment [Member]
Accumulated Other Comprehensive Income [Line Items]
Other Comprehensive Income (Loss), before Reclassifications, before Tax	(120)	(89)
Accumulated other comprehensive income (loss)
Balance of Accumulated Other Comprehensive Income (Loss) at beginning of period	(268)	(220)
Net realized gains (losses)	7	(9)
Other Comprehensive Income (Loss), Tax	16	50
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(97)	(48)
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	(365)	(268)
Unrealized Gain (Loss) On Investments [Member]
Accumulated Other Comprehensive Income [Line Items]
Other Comprehensive Income (Loss), before Reclassifications, before Tax	(27)	14
Accumulated other comprehensive income (loss)
Balance of Accumulated Other Comprehensive Income (Loss) at beginning of period	27	15
Net realized gains (losses)	0	(1)
Other Comprehensive Income (Loss), Tax	0	(1)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(27)	12
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	0	27
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income [Line Items]
Other Comprehensive Income (Loss), before Reclassifications, before Tax	91	(486)
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax	(398)	35
Accumulated other comprehensive income (loss)
Balance of Accumulated Other Comprehensive Income (Loss) at beginning of period	(2,405)	(2,106)
Net realized gains (losses)	52	97
Other Comprehensive Income (Loss), Tax	56	55
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(199)	(299)
Balance of Accumulated Other Comprehensive Income (Loss) at End of period	$ (2,604)	$ (2,405)

Shareholders' Equity Narrative (Details) - USD ($) $ / shares in Units, $ in Billions	Dec. 31, 2020	Dec. 31, 2019
Preferred Stock, No Par Value	$ 0
Common Stock, Shares Authorized	1,000,000,000
Preferred Stock, Shares Authorized	500,000
Common Stock, No Par Value	$ 0
Preferred Stock, Shares Issued	0
Treasury Stock, Shares	160,000,000.0	158,800,000
Common Stock [Member]
Treasury Stock, Value	$ 5.2	$ 5.3
Reinvested Earnings [Member]
Treasury Stock, Value	$ 0.3	$ 0.1

Shareholders' Equity Reclassification Components (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income [Line Items]
Cost of products sold									$ 59,902	$ 60,509	$ 60,160
Interest expense									339	402	364
Revenues	$ (17,978)	$ (15,126)	$ (16,281)	$ (14,970)	$ (16,329)	$ (16,726)	$ (16,297)	$ (15,304)	(64,355)	(64,656)	(64,341)
Restructuring, Settlement and Impairment Provisions									80	303	171
Loss (Earnings) before Income Taxes									(1,883)	(1,588)	(2,060)
Income Tax Expense (Benefit)									101	209	245
Net Loss (Earnings) Including Noncontrolling Interests									(1,782)	(1,379)	(1,815)
Other Nonoperating Income (Expense)									278	(7)	(101)
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Accumulated Translation Adjustment [Member]
Accumulated Other Comprehensive Income [Line Items]
Income Tax Expense (Benefit)									0	0	0
Net Loss (Earnings) Including Noncontrolling Interests									0	7	(1)
Other Nonoperating Income (Expense)									0	(7)	1
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Accumulated Net Unrealized Investment Gain (Loss) [Member]
Accumulated Other Comprehensive Income [Line Items]
Income Tax Expense (Benefit)									0	0	0
Net Loss (Earnings) Including Noncontrolling Interests									0	(1)	(2)
Other Nonoperating Income (Expense)									0	1	2
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income [Line Items]
Loss (Earnings) before Income Taxes									7	(9)	32
Income Tax Expense (Benefit)									(11)	18	(8)
Net Loss (Earnings) Including Noncontrolling Interests									(4)	9	24
Reclassification out of Accumulated Other Comprehensive Income [Member] \| Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income [Line Items]
Cost of products sold									(27)	11	113
Interest expense									2	(1)	(1)
Revenues									68	44	0
Loss (Earnings) before Income Taxes									45	100	76
Income Tax Expense (Benefit)									7	(13)	(18)
Net Loss (Earnings) Including Noncontrolling Interests									52	87	58
Other Nonoperating Income (Expense)									(2)	(46)	36
Nonoperating Income (Expense) [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member] \| Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent
Accumulated Other Comprehensive Income [Line Items]
Other Nonoperating Income (Expense)									32	26	33
Nonoperating Income (Expense) [Member] \| Reclassification out of Accumulated Other Comprehensive Income [Member] \| Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent
Accumulated Other Comprehensive Income [Line Items]
Other Nonoperating Income (Expense)									$ 39	$ 17	$ 65

Segment Information (Narrative) (Details) - segment	12 Months Ended
Segment Information (Narrative) (Details) - segment	Dec. 31, 2020	Dec. 31, 2019
Segment Information
Number of Reportable Segments	3
Wilmar International Limited [Member]
Segment Information
Equity Method Investment, Ownership Percentage	22.20%	24.80%
Marfrig [Member]
Segment Information
Equity Method Investment, Ownership Percentage	30.00%

Segment and Geographic Information (Segment Information) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Information
Property, Plant and Equipment, Additions									$ 817	$ 817
Revenues	$ 17,978	$ 15,126	$ 16,281	$ 14,970	$ 16,329	$ 16,726	$ 16,297	$ 15,304	64,355	64,656	$ 64,341
Depreciation									803	827	812
Asset Abandonments and Impairments									28	131	100
Interest income									88	192	162
Equity in earnings of affiliates									579	454	518
Interest Expense									(339)	(402)	(364)
Operating profit									1,883	1,588	2,060
Investments in and advances to affiliates	4,913				5,132				4,913	5,132
Assets	49,719				43,997				49,719	43,997
Ag Services and Oilseeds [Member]
Segment Information
Revenues									49,716	48,741	49,891
Carbohydrate Solutions [Member]
Segment Information
Revenues									8,472	9,886	10,279
Nutrition [Member]
Segment Information
Revenues									5,800	5,677	3,790
Other Segments [Member]
Segment Information
Revenues									367	352	381
Operating Segments [Member]
Segment Information
Operating profit									3,455	2,948	3,273
Operating Segments [Member] \| Ag Services and Oilseeds [Member]
Segment Information
Property, Plant and Equipment, Additions									261	271
Revenues									55,667	54,633	56,591
Depreciation									351	361	372
Asset Abandonments and Impairments									8	130	40
Interest income									39	51	45
Equity in earnings of affiliates									475	378	421
Operating profit									2,105	1,935	2,020
Investments in and advances to affiliates	4,402				4,662				4,402	4,662
Assets	24,792				21,397				24,792	21,397
Operating Segments [Member] \| Carbohydrate Solutions [Member]
Segment Information
Property, Plant and Equipment, Additions									251	275
Revenues									9,423	11,154	11,421
Depreciation									305	320	328
Asset Abandonments and Impairments									0	1	0
Interest income									0	0	1
Equity in earnings of affiliates									81	60	62
Operating profit									717	644	945
Investments in and advances to affiliates	392				363				392	363
Assets	5,963				6,032				5,963	6,032
Operating Segments [Member] \| Nutrition [Member]
Segment Information
Property, Plant and Equipment, Additions									149	166
Revenues									5,959	5,786	3,836
Depreciation									114	113	80
Asset Abandonments and Impairments									13	0	11
Interest income									2	1	2
Equity in earnings of affiliates									22	17	17
Operating profit									574	418	339
Investments in and advances to affiliates	102				98				102	98
Assets	8,652				8,622				8,652	8,622
Operating Segments [Member] \| Other Segments [Member]
Segment Information
Property, Plant and Equipment, Additions									8	2
Revenues									367	352	381
Depreciation									6	6	6
Interest income									40	125	100
Operating profit									52	85	58
Assets	7,152				5,661				7,152	5,661
Intersegment Eliminations [Member]
Segment Information
Revenues									(7,061)	(7,269)	(7,888)
Intersegment Eliminations [Member] \| Ag Services and Oilseeds [Member]
Segment Information
Revenues									(5,951)	(5,892)	(6,700)
Intersegment Eliminations [Member] \| Carbohydrate Solutions [Member]
Segment Information
Revenues									(951)	(1,268)	(1,142)
Intersegment Eliminations [Member] \| Nutrition [Member]
Segment Information
Revenues									(159)	(109)	(46)
Corporate, Non-Segment [Member]
Segment Information
Property, Plant and Equipment, Additions									148	103
Depreciation									27	27	26
Asset Abandonments and Impairments									7	0	49
Interest income									7	15	14
Equity in earnings of affiliates									1	(1)	18
Operating profit									(1,572)	(1,360)	(1,213)
Investments in and advances to affiliates	17				9				17	9
Assets	$ 3,160				$ 2,285				3,160	2,285
Nonoperating Income (Expense) [Member] \| Segment Reconciling Items [Member]
Segment Information
Operating profit									83	12	13
Asset impairment, restructuring, and settlement [Member] \| Segment Reconciling Items [Member]
Segment Information
Operating profit									(76)	(146)	(102)
Ag Services [Member] \| Ag Services and Oilseeds [Member]
Segment Information
Revenues									32,726	31,705	31,766
Crushing [Member] \| Ag Services and Oilseeds [Member]
Segment Information
Revenues									9,593	9,479	10,319
Refined Products and Other [Member] \| Ag Services and Oilseeds [Member]
Segment Information
Revenues									7,397	7,557	7,806
Starches and sweeteners [Member] \| Carbohydrate Solutions [Member]
Segment Information
Revenues									6,387	6,854	6,922
Bioproducts [Member] \| Carbohydrate Solutions [Member]
Segment Information
Revenues									2,085	3,032	3,357
Wild and Specialty Ingredients [Member] \| Nutrition [Member]
Segment Information
Revenues									2,812	2,745	2,571
Animal Nutrition [Member] \| Nutrition [Member]
Segment Information
Revenues									$ 2,988	$ 2,932	$ 1,219

Segment And Geographic Information (Geographic Information) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Information
Revenues	$ 17,978	$ 15,126	$ 16,281	$ 14,970	$ 16,329	$ 16,726	$ 16,297	$ 15,304	$ 64,355	$ 64,656	$ 64,341
Long-Lived Assets	9,951				10,106				9,951	10,106
UNITED STATES
Segment Information
Revenues									25,986	27,509	28,726
Long-Lived Assets	6,329				6,488				6,329	6,488
Switzerland [Member]
Segment Information
Revenues									13,819	13,016	12,911
CAYMAN ISLANDS
Segment Information
Revenues									3,958	4,374	5,724
GERMANY
Segment Information
Revenues									1,979	2,026	2,179
BRAZIL
Segment Information
Revenues									2,357	2,381	1,702
Long-Lived Assets	781				869				781	869
Other Foreign [Member]
Segment Information
Revenues									14,012	13,282	11,472
Long-Lived Assets	$ 2,841				$ 2,749				2,841	2,749
MEXICO
Segment Information
Revenues									$ 2,244	$ 2,068	$ 1,627

Asset Impairment, Exit, and Restructuring Costs (Asset Impairment Charges And Exit Costs) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restructuring, Settlement and Impairment Provisions [Abstract]
Restructuring Charges	$ 26	$ 161	$ 29
Equity Method Investment, Other than Temporary Impairment	0	0	12
Goodwill and Intangible Asset Impairment	26	11	9
Other Asset Impairment Charges	28	131	121
Restructuring, Settlement and Impairment Provisions	$ 80	$ 303	$ 171

Asset Impairment, Exit, and Restructuring Costs (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Asset Impairment Charges And Exit Costs [Line Items]
Restructuring Charges	$ 26	$ 161	$ 29
Other Asset Impairment Charges	28	131	121
Goodwill and Intangible Asset Impairment	26	11	9
Corporate [Member]
Asset Impairment Charges And Exit Costs [Line Items]
Restructuring Charges	9	159	24
Other Asset Impairment Charges	7		49
Ag Services and Oilseeds [Member]
Asset Impairment Charges And Exit Costs [Line Items]
Other Asset Impairment Charges	8	130	61
Goodwill and Intangible Asset Impairment	26
Carbohydrate Solutions [Member]
Asset Impairment Charges And Exit Costs [Line Items]
Other Asset Impairment Charges		$ 1
Nutrition [Member]
Asset Impairment Charges And Exit Costs [Line Items]
Other Asset Impairment Charges	13		$ 11
All Reportable Segments [Member]
Asset Impairment Charges And Exit Costs [Line Items]
Restructuring Charges	$ 17

Sale of Accounts Receivable (Narrative) (Details) € in Billions	12 Months Ended
	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2020 EUR (€)
Accounts Receivable Securitization Programs [Line Items]
Proceeds from transfer of receivables	$ 1,600,000,000	$ 1,400,000,000
Deferred receivables consideration	0	446,000,000
Proceeds from the collection of receivables sold	34,200,000,000	33,800,000,000	$ 34,800,000,000
Collections applied to deferred consideration	6,700,000,000	13,100,000,000	14,800,000,000
Loss on transfer of accounts receivables to purchasers	9,000,000	18,000,000	18,000,000
Lines of credit	10,200,000,000
Transfer of Financial Assets Accounted for as Sales, Amount Derecognized	1,600,000,000	1,900,000,000
Pledged Assets, Not Separately Reported, Finance Receivables	400,000,000
Amount of receivables sold	35,000,000,000.0	$ 34,500,000,000	$ 35,700,000,000
Accounts Receivable Securitization Facility [Member]
Accounts Receivable Securitization Programs [Line Items]
Lines of credit	1,800,000,000
Program [Member] \| Accounts Receivable Securitization Facility [Member]
Accounts Receivable Securitization Programs [Line Items]
Lines of credit	1,200,000,000
Second Program [Member] \| Accounts Receivable Securitization Facility [Member]
Accounts Receivable Securitization Programs [Line Items]
Lines of credit	$ 600,000,000			€ 0.5

Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 17,978	$ 15,126	$ 16,281	$ 14,970	$ 16,329	$ 16,726	$ 16,297	$ 15,304	$ 64,355	$ 64,656	$ 64,341
Gross Profit	1,352	1,042	1,108	951	1,169	1,078	972	928	4,453	4,147	4,181
Net Earnings Attributable to Controlling Interests	$ 687	$ 225	$ 469	$ 391	$ 504	$ 407	$ 235	$ 233	$ 1,772	$ 1,379	$ 1,810
Basic earnings per common share (dollars per share)	$ 1.22	$ 0.40	$ 0.84	$ 0.69	$ 0.90	$ 0.72	$ 0.42	$ 0.41	$ 3.16	$ 2.45	$ 3.21
Diluted earnings per common share (dollars per share)	$ 1.22	$ 0.40	$ 0.84	$ 0.69	$ 0.90	$ 0.72	$ 0.42	$ 0.41	$ 3.15	$ 2.44	$ 3.19

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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+ Details

Quarterly Financial Data (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019
Restructuring Cost and Reserve [Line Items]
Gain (loss) on sale/revaluation of assets after tax	$ 8	$ 54	$ 18		$ (133)			$ 9
Gain (loss) on sale of assets, after tax, per share	$ 0.01	$ 0.10	$ 0.03		$ (0.24)			$ 0.02
Impairment and restructuring per share, after tax	$ 0.03	$ 0.01	$ 0.02	$ 0.06	$ 0.16	$ 0.08	$ 0.18	$ 0.02
Acquisition-related expenses, after-tax	$ 3				$ 2			$ 9
Acquisition-related expenses, per share	$ 0.01				$ 0.00			$ 0.02
Impairment, settlement, and restructuring, after tax	$ 20	$ 5	$ 12	$ 32	$ 93	$ 41	$ 105	$ 10
Tax expense (credit) related to the tax reform and certain out of period discretes	$ 19	$ (8)	$ (1)	$ (7)	$ (46)	$ 5	$ 19	$ (17)
Tax expense (credit) related to the tax reform and certain out of period discretes per share	$ 0.04	$ (0.02)	$ (0.00)	$ (0.01)	$ (0.08)	$ 0.01	$ 0.03	$ (0.03)
Gain (loss) on debt extinguishment, after tax	$ 1	$ (300)	$ (11)
Gain (loss) on debt extinguishment, per share	$ 0.00	$ (0.53)	$ (0.02)
Gain (loss) on embedded derivative	$ 2	$ 15
Gain (loss) on embedded derivative, per share	$ 0.00	$ 0.03

Valuation And Qualifying Accounts And Reserves (Schedule Of Valuation And Qualifying Accounts) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Balance at Beginning of Year	$ 110	$ 84	$ 73
Additions	47	26	44
Deductions	(66)	(19)	(26)
Other	$ 9	19	(7)
Balance at End of Year		$ 110	$ 84