ARCHER-DANIELS-MIDLAND CO, 10-K filed on 2/20/2025
Annual Report
v3.25.0.1
Cover Page - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2024
Feb. 14, 2025
Jun. 28, 2024
Class of Stock [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2024    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 1-44    
Entity Registrant Name ARCHER-DANIELS-MIDLAND CO    
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    
City Area Code 312    
Local Phone Number 634-8100    
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    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 28.8
Entity Common Stock, Shares Outstanding   479,707,071  
Documents Incorporated by Reference
Portions of the Registrant’s definitive proxy statement relating to its 2025 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    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
Amendment Flag false    
Common Stock, no par value      
Class of Stock [Line Items]      
Title of 12(b) Security Common Stock, no par value    
Trading Symbol ADM    
Security Exchange Name NYSE    
1.000% Notes due 2025      
Class of Stock [Line Items]      
Title of 12(b) Security 1.000% Notes due 2025    
Security Exchange Name NYSE    
No Trading Symbol Flag true    
v3.25.0.1
Audit Information
 12 Months Ended
Dec. 31, 2024
Audit Information [Abstract]  
Auditor Firm ID 42
Auditor Name Ernst & Young LLP
Auditor Location Saint Louis, Missouri
v3.25.0.1
CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]      
Revenues $ 85,530 $ 93,935 $ 101,556
Cost of products sold 79,752 86,422 93,986
Gross Profit 5,778 7,513 7,570
Selling, general, and administrative expenses 3,706 3,456 3,358
Asset impairment, exit, and restructuring costs 545 342 66
Equity in earnings of unconsolidated affiliates (621) (551) (832)
Interest and investment income (562) (499) (293)
Interest expense 706 647 396
Other (income) expense - net (251) (176) (358)
Earnings Before Income Taxes 2,255 4,294 5,233
Income tax expense 476 828 868
Net Earnings Including Non-controlling Interests 1,779 3,466 4,365
Net earnings (losses) attributable to non-controlling interests (21) (17) 25
Net Earnings Attributable to Controlling Interests $ 1,800 $ 3,483 $ 4,340
Weighted average number of shares outstanding – basic (in shares) 492 541 562
Weighted average number of shares outstanding – diluted (in shares) 493 542 563
Basic earnings per common share (dollars per share) $ 3.66 $ 6.44 $ 7.72
Diluted earnings per common share (dollars per share) $ 3.65 $ 6.43 $ 7.71
v3.25.0.1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]      
Net earnings including non-controlling interests $ 1,779 $ 3,466 $ 4,365
Other comprehensive income (loss), net of tax:      
Foreign currency translation adjustment (415) 48 (301)
Tax effect (45) 32 (93)
Net of tax amount (460) 80 (394)
Pension and other postretirement benefit liabilities adjustment 15 (88) 140
Tax effect (7) 2 (15)
Net of tax amount 8 (86) 125
Deferred gain (loss) on hedging activities (41) 15 (84)
Tax effect 9 (5) 7
Net of tax amount (32) 10 (77)
Unrealized gain (loss) on investments (16) 16 (12)
Tax effect (1) (1) 1
Net of tax amount (17) 15 (11)
Total other comprehensive income (loss), net of tax (501) 19 (357)
Comprehensive income (loss) 1,278 3,485 4,008
Comprehensive income (loss) attributable to non-controlling interests (21) (20) 5
Comprehensive income (loss) attributable to controlling interests $ 1,299 $ 3,505 $ 4,003
v3.25.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 611 $ 1,368
Short-term marketable securities 246 0
Segregated cash and investments 7,212 7,228
Trade receivables - net 3,708 4,232
Inventories 11,572 11,957
Other current assets 4,369 4,982
Total Current Assets 27,718 29,767
Investments and Other Assets    
Investments in and advances to affiliates 5,276 5,500
Goodwill and other intangible assets 6,769 6,341
Right-of-use assets 1,358 1,211
Other assets 1,313 1,304
Total Investments and Other Assets 14,716 14,356
Property, Plant, and Equipment, net    
Land and land improvements 566 573
Buildings 6,143 5,876
Machinery and equipment 20,636 20,223
Construction in progress 1,553 1,360
Gross Property, Plant, and Equipment 28,898 28,032
Accumulated depreciation (18,061) (17,524)
Net Property, Plant, and Equipment 10,837 10,508
Total Assets 53,271 54,631
Current Liabilities    
Short-term debt 1,903 105
Trade payables 5,535 6,313
Payables to brokerage customers 7,772 7,867
Current lease liabilities 324 300
Accrued expenses and other payables 3,730 4,076
Current maturities of long-term debt 674 1
Total Current Liabilities 19,938 18,662
Long-Term Liabilities    
Long-term debt 7,580 8,259
Deferred income taxes 1,268 1,309
Non-current lease liabilities 1,057 931
Other 997 1,005
Total Long-Term Liabilities 10,902 11,504
Commitments and contingencies (See Note 20)
Temporary Equity - Redeemable non-controlling interest 253 320
Shareholders’ Equity    
Common stock 3,223 3,154
Reinvested earnings 21,933 23,465
Accumulated other comprehensive income (loss) (2,988) (2,487)
Non-controlling interests 10 13
Total Shareholders’ Equity 22,178 24,145
Total Liabilities, Temporary Equity, and Shareholders’ Equity $ 53,271 $ 54,631
v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Net earnings including non-controlling interests $ 1,779 $ 3,466 $ 4,365
Adjustments to reconcile net earnings to net cash provided by operating activities      
Depreciation and amortization 1,141 1,059 1,028
Impairment of goodwill, intangibles, long-lived assets, and investments 519 309 37
Deferred income taxes (130) (23) (89)
Equity in earnings of affiliates, net of dividends (180) (143) (457)
Stock compensation expense 74 112 147
Deferred cash flow hedges (40) 15 (84)
(Gain) loss on sales of assets and businesses/investment revaluation (12) 38 (115)
Other – net 131 (106) 178
Changes in operating assets and liabilities, net of acquisitions and dispositions      
Segregated investments (693) (194) (1,512)
Trade receivables 447 737 (1,682)
Inventories 162 2,889 (295)
Other current assets 665 694 (279)
Trade payables (719) (1,544) 1,389
Payables to brokerage customers (78) (2,059) 891
Accrued expenses and other payables (276) (790) (44)
Net cash provided by operating activities 2,790 4,460 3,478
Cash flows from investing activities      
Capital expenditures (1,563) (1,494) (1,319)
Net assets of businesses acquired (927) (23) (22)
Proceeds from sales of assets, businesses and investments 66 60 131
Investments in affiliates (58) (18) (77)
Purchases of marketable securities (308) 0 0
Proceeds from sales of marketable securities 84 0 0
Cost method investments 0 0 (155)
Other – net 4 (21) 42
Net cash used in investing activities (2,702) (1,496) (1,400)
Cash flows from financing activities      
Long-term debt borrowings 27 501 752
Long-term debt payments (1) (963) (482)
Net change in short-term debt 1,800 (390) (428)
Share repurchases (2,327) (2,673) (1,450)
Cash dividends (985) (977) (899)
Acquisition of non-controlling interests (8) 0 0
Other – net (36) (102) 8
Net cash used in financing activities (1,530) (4,604) (2,499)
Effect of exchange rate on cash, cash equivalents, restricted cash, and restricted cash equivalents (24) (3) 0
Net increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents (1,466) (1,643) (421)
Cash, cash equivalents, restricted cash, and restricted cash equivalents – beginning of year 5,390 7,033 7,454
Cash, cash equivalents, restricted cash, and restricted cash equivalents – end of year 3,924 5,390 7,033
Reconciliation of cash, cash equivalents, restricted cash, and restricted cash equivalents to the Consolidated Balance Sheets      
Cash and cash equivalents 611 1,368 1,037
Restricted cash and restricted cash equivalents included in segregated cash and investments 3,313 4,022 5,996
Cash paid for interest and income taxes were as follows:      
Interest 710 711 409
Income taxes $ 658 $ 742 $ 708
v3.25.0.1
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY - USD ($)
shares in Millions, $ in Millions
Total
Common Stock
Reinvested Earnings
  Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interests
Balance (in shares) at Dec. 31, 2021   560      
Balance at Dec. 31, 2021 $ 22,508 $ 2,994 $ 21,655 $ (2,172) $ 31
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net earnings 4,365   4,340   25
Other comprehensive income (loss), net of tax (357)     (337) (20)
Cash dividends paid (899)   (899)    
Share repurchases (in shares)   (17)      
Share repurchases (1,450)   (1,450)    
Stock compensation expense (in shares)   3      
Stock compensation expense 147 $ 147      
Stock option exercises, net of taxes (in shares)   1      
Stock option exercises, net of taxes 4 $ 4      
Other (1) $ 2     (3)
Balance (in shares) at Dec. 31, 2022   547      
Balance at Dec. 31, 2022 24,317 $ 3,147 23,646 (2,509) 33
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net earnings 3,466   3,483   (17)
Other comprehensive income (loss), net of tax 19     22 (3)
Cash dividends paid (977)   (977)    
Share repurchases (in shares)   (36)      
Share repurchases (2,697)   (2,697)    
Stock compensation expense (in shares)   3      
Stock compensation expense 112 $ 112      
Stock option exercises, net of taxes (in shares)   (1)      
Stock option exercises, net of taxes (110) $ (110)      
Other 15 $ 5 10    
Balance (in shares) at Dec. 31, 2023   513      
Balance at Dec. 31, 2023 24,145 $ 3,154 23,465 (2,487) 13
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net earnings 1,779        
Net earnings 1,800   1,800    
Other comprehensive income (loss), net of tax (501)     (501)  
Cash dividends paid (985)   (985)    
Share repurchases (in shares)   (37)      
Share repurchases (2,347)   (2,347)    
Stock compensation expense (in shares)   2      
Stock compensation expense 74 $ 74      
Stock option exercises, net of taxes (23) (23)      
Acquisition of non-controlling interests (4) (3)     (1)
Other 19 $ 21     (2)
Balance (in shares) at Dec. 31, 2024   478      
Balance at Dec. 31, 2024 $ 22,178 $ 3,223 $ 21,933 $ (2,988) $ 10
v3.25.0.1
CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]      
Cash dividends paid (dollars per share) $ 2.00 $ 1.80 $ 1.60
v3.25.0.1
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Company Overview

Archer-Daniels-Midland Company and its subsidiaries (the "Company" or "ADM") unlock the power of nature to enrich the quality of life. The Company is an essential global agricultural supply chain manager and processor, providing food security by connecting local needs with global capabilities. ADM is a premier human and animal nutrition provider, offering one of the industry's broadest portfolios of ingredients and solutions from nature. The Company is a trailblazer in health and well-being, with an industry-leading range of products for consumers looking for new ways to live healthier lives. ADM is a cutting-edge innovator, guiding the way to a future of new consumer and industrial solutions. ADM is a leader in sustainability, scaling across entire value chains to help decarbonize the multiple industries it serves. Around the globe, the Company's innovation and expertise are meeting critical needs while nourishing quality of life and supporting a healthier planet.

ADM has three reportable segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition. See Note 17.    Segment and Geographic Information for further details on the nature of the Company's business and its reportable operating segments.

Principles of Consolidation

The Consolidated Financial Statements include the accounts of the Company and its subsidiaries. All 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.

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 restricted cash equivalents on the statement of cash flows.
Short-Term Marketable Securities

Short-term marketable securities include foreign government securities with maturities greater than three months and less than one year and are recorded at fair value with gains and losses on these investments included in Other income in the Consolidated Statements of Earnings.

Revenue Recognition

The Company principally generates revenue from merchandising and transporting agricultural commodities, and manufacturing products for use in food, beverages, feed, energy, and industrial applications, and ingredients and solutions for human and animal nutrition.

The Company’s revenue that is generated from physically settled derivative sales contracts is accounted for under ASC 815, Derivatives and Hedging (Topic 815), and revenue from sales of other products and services is accounted for under ASC 606, Revenue from Contracts with Customers (Topic 606).

Revenue from physically settled derivative sales contracts primarily relates to forward sales of commodities where such contracts meet the definition of a derivatives under ASC 815. Revenue from such commodities contracts is recognized at a point in time, upon transferring control of the commodity to the customer, similar to revenue recognized from contracts with customers under Topic 606. Prior to settlement, these contracts are recognized at fair value within current assets and liabilities, with the unrealized gains or losses primarily recorded within Cost of products sold. See Note 4. Fair Value Measurements and Note 5. Derivative Instruments & Hedging Activities for further information.

Revenue from sales of other products and services is measured based on the consideration specified in the contract with a customer, in accordance with Topic 606. 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. Revenue for deferred price contracts that allow for pricing to be determined after title of the goods has passed to the customer is recognized when the price is determined. For transportation service contracts, the Company recognizes revenue over time as the mode of transportation 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. 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 Topic 606, and does not disclose information about remaining performance obligations that have original expected durations of one year or less.

See Note 2. Revenues for further information.

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.
Receivables

The Company records accounts receivable at net realizable value. This value includes an allowance for estimated uncollectible accounts to reflect any loss anticipated on the accounts receivable balances including any accrued interest receivables thereon. The Company estimates uncollectible accounts by pooling receivables 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. Long-term receivables recorded in other assets were not material to the Company’s overall receivables portfolio. The Company recorded bad debt (reversals) expense in selling, general, and administrative expenses of $(16) million, $6 million, and $88 million in the years ended December 31, 2024, 2023, and 2022, respectively.

Changes to the allowance for estimated uncollectible accounts for the years ended December 31, 2024 and 2023 are as follows (in millions):
Year Ended December 31
20242023
Opening balance, January 1
$215 $199 
Provisions (reversals), net
(16)6 
Recoveries9 2 
Write-offs against allowance(32)(28)
Other(9)36 
Closing balance, December 31
$167 $215 
Provisions (reversals), net in the years ended December 31, 2024 and 2023 included reversals of prior general provisions for economic factors related to the COVID pandemic. Write-offs against allowance in the year ended December 31, 2024 were primarily related to uncollectable trade receivables in the normal course of business. Write-offs against allowance in the year ended December 31, 2023 were primarily related to a customer in Brazil and allowance on receivables that were subsequently sold.

Inventories

Certain merchandisable agricultural commodity inventories, 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.
The following table sets forth the Company’s inventories as of December 31, 2024 and 2023 (in millions).

December 31, 2024December 31, 2023
Raw materials and supplies (1)
$1,922 $1,944 
Finished goods2,689 3,026 
Market inventories
6,961 6,987 
Total inventories$11,572 $11,957 

(1) Includes work in process inventories which were not material as of December 31, 2024 and 2023.

Fair Value Measurements

The Company measures the fair value of certain assets and liabilities in accordance with ASC Topic 820, Fair Value Measurements and Disclosures, which defines fair value as the price that would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants on 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. The fair value hierarchy gives the highest priority to Level 1 inputs.

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. The fair value hierarchy gives the lowest priority to Level 3 inputs.

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. 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. 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 non-performance 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 non-performance risk to be a significant input, the Company records estimated fair value adjustments, and classifies the measurement in Level 3.

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 its financial and non-financial derivative instruments, excluding exchange traded instruments, as either assets or liabilities at fair value in its Consolidated Balance Sheets. Unrealized gains are reported as other current assets and unrealized losses are reported as accrued expenses and other payables. Exchange traded instruments are cash-settled daily with the settlement reflected within Other current assets.

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, within revenue or cost of products sold, as appropriate. 
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 cash flow hedge, fair value 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 Statements 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. 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 Statements of Earnings in the same financial statement caption as the hedged items.

Equity Method Investments

The Company uses the equity method of accounting for equity investments if the investment provides the ability to exercise significant influence, but not control, over operating and financial policies of the investee. The Company’s proportionate share of the net income or loss of these investees is included in consolidated net earnings. Judgment regarding the level of influence over each equity method investment includes considering key factors such as the Company’s ownership interest, the legal form of the investee, any representation on the board of directors, and any participation in policy-making decisions.

The Company evaluates equity method investments for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment might not be recoverable. Factors considered by the Company when reviewing an equity method investment for impairment include the length of time (duration) and the extent (severity) to which the fair value of the equity method investment has been less than cost, the investee’s financial condition and near-term prospects, and the intent and ability to hold the investment for a period of time sufficient to allow for anticipated recovery. An impairment that is other-than- temporary is recognized in the period identified.

See Note 8. Investments in and Advances to Affiliates for further information.

Cost Method Investments

Cost method investments of $439 million and $438 million as of December 31, 2024 and 2023, respectively, are included in other assets in the Company’s Consolidated Balance Sheets.

Revaluation losses of $16 million for the year ended December 31, 2024 were related to an investment in alternative protein and precision fermentation. Revaluation losses of $76 million for the year ended December 31, 2023 were related to investments in the alternative protein category and precision fermentation. Revaluation gains of $37 million for the year ended December 31, 2022 were in connection with observable third-party transactions (a Level 2 measurement under applicable accounting standards).

Revaluation gains and losses are recorded in Interest and investment income in the Company’s Consolidated Statements of Earnings. As of December 31, 2024, the annual and cumulative amounts of upward and downward adjustments were $2 million and $18 million, and $113 million and $75 million, respectively.

Property, Plant, and Equipment

Property, plant, and equipment are recorded at cost. Repair and maintenance costs are expensed as incurred. The Company 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; and machinery and equipment - 3 to 40 years. The Company capitalized interest on major construction projects in progress of $32 million, $32 million, and $20 million for the years ended December 31, 2024, 2023, and 2022, respectively.
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 a 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).

Leases

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 6 months to 95 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, 2024.

As an accounting policy election, the Company does not apply the recognition requirements of ASC 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.

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. Income tax effects from AOCI are released when the individual units of account are sold, terminated, or extinguished.

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 such as third-party configuration costs and internal labor, are amortized over their estimated useful lives of 1 to 50 years and are reviewed for impairment whenever there are indicators 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 the carrying value of the assets may not be fully recoverable. See Note 9. Goodwill and Other Intangible Assets for further information.
Supplier Payable Programs

The Company has Supplier Payable Programs (“SPP”) with financial institutions which act as its paying agents for payables due to certain of its suppliers. The Company has neither an economic interest in a supplier’s participation in the SPP nor a direct financial relationship with the financial institutions, and has concluded its obligations to the suppliers, including amounts due and scheduled payment terms, are not impacted by their participation in the SPP. Accordingly, amounts associated with the SPP are classified as trade payables in the Company’s Consolidated Balance Sheets and in operating activities in the Consolidated Statements of Cash Flows. The supplier invoices that have been confirmed as valid under the program require payment in full generally within 90 days of the invoice date. As of December 31, 2024 and 2023, the Company's outstanding payment obligations that suppliers had elected to sell to the financial institutions were $222 million and $274 million, respectively.

Changes to the outstanding payment obligations for the years ended December 31, 2024 and 2023 were as follows (in millions):

Year Ended December 31,
20242023
Opening balance, January 1
$274 $196 
Obligations confirmed948 1,100 
Obligations paid(1,000)(1,022)
Closing balance, December 31
$222 $274 

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.

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 and restricted stock units (Restricted Stock Awards), performance stock units (PSUs), and stock options. The fair values of stock options are estimated at the date of grant using the Black-Scholes option valuation model, which requires the input of subjective assumptions. The fair values of Restricted Stock Awards and PSUs are determined based on the market value of the Company's shares on the grant date. Measured compensation cost, net of forfeitures, is recognized ratably over the vesting period of the related stock compensation award.

Compensation expense for stock 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.

Research and Development

Costs associated with research and development are expensed as incurred and recorded within selling, general, and administrative expenses. Such costs incurred, net of expenditures subsequently reimbursed by government grants, were $269 million, $256 million, and $216 million for the years ended December 31, 2024, 2023, and 2022, respectively.
Earnings Per Share

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 common share, average number of common shares outstanding is increased by dilutive potential common shares, including unvested restricted stock units, PSUs and common shares underlying stock options outstanding with exercise prices lower than the average market price of common shares using the treasury stock 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.

Redeemable Non-controlling Interests

The Company presents any redeemable non-controlling interests in temporary equity within the Consolidated Balance Sheets at redemption value with period changes recorded in reinvested earnings. The Company reports the portion of its earnings or loss for redeemable non-controlling interests as net earnings (losses) attributable to non-controlling interests in the Consolidated Statements of Earnings.

Changes to the Company's redeemable non-controlling interests for the years ended December 31, 2024, 2023, and 2022 are as follows (in millions):
Year Ended December 31,
202420232022
Opening balance, January 1
$320 $299 $259 
Net income (loss) attributable to redeemable non-controlling interests
(21)(6)21 
Acquisition of redeemable non-controlling interests(18)— — 
Currency translation adjustments and other
(28)27 19 
Closing balance, December 31 (1)
$253 $320 $299 

(1) As of December 31, 2024, redeemable non-controlling interests includes $136 million related to the 25% non-controlling interest for PetDine, LLC. The Company has the option to acquire this remaining 25% interest in PetDine, LLC by March 31, 2025. The non-controlling interest holders also have the option to put the 25% interest to the Company by the same date.
Adoption of New Accounting Pronouncements

Effective January 1, 2024, the Company adopted the amended guidance of Accounting Standards Codification (ASC) 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 guidance applies 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 guidance do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2024, except for hedging relationships existing as of December 31, 2024, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. ADM has completed the transition of its financing, funding, and hedging portfolios from LIBOR to alternative reference rates. The transition did not have an impact on the Company’s Consolidated Financial Statements.

Effective December 31, 2024, the Company adopted Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves disclosures about a public entity’s reportable segments and addresses requests from investors and other allocators of capital for more detailed information about a reportable segment’s expenses. The amended guidance improves reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses and permits entities to disclose more than one measure of a reportable segment’s profitability used by the Chief Operating Decision Maker. The adoption of the amended guidance resulted in expanded disclosures in Note 17. Segment and Geographic Information in this report but did not have an impact on the Company's Consolidated Financial Statements.

New Accounting Pronouncements Not Yet Adopted

Effective December 31, 2025, the Company will be required to adopt ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which enhances the transparency and decision usefulness of income tax disclosures. The amendments address investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The adoption of the amended guidance will result in expanded disclosures in the Company’s income taxes footnote but is not expected to have an impact on the Company's Consolidated Financial Statements.
Effective December 31, 2027, the Company will be required to adopt ASU 2024-03, Income Statement—Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of income statement expenses, which will require tabular disclosure of certain operating expenses disaggregated into categories, such as purchases of inventory, employee compensation, depreciation, and intangible asset amortization. The adoption of the amended guidance will result in expanded disclosures in the Company’s footnotes but is not expected to have an impact on the Company's Consolidated Financial Statements.
v3.25.0.1
Revenues
 12 Months Ended
Dec. 31, 2024
Revenues [Abstract]  
Revenues Revenues
The following tables present revenue disaggregated by timing of recognition and major product lines for the years ended December 31, 2024, 2023, and 2022 (in millions).

Year Ended December 31, 2024
Topic 606 Revenue
Topic 815(1)
Total
Point in TimeOver TimeTotalRevenueRevenues
Ag Services and Oilseeds
Ag Services3,779 $923 $4,702 $39,381 $44,083 
Crushing462 — 462 11,374 11,836 
Refined Products and Other2,447 — 2,447 8,150 10,597 
Total Ag Services and Oilseeds6,688 923 7,611 58,905 66,516 
Carbohydrate Solutions
Starches and Sweeteners6,335 — 6,335 2,252 8,587 
Vantage Corn Processors 2,647 — 2,647 — 2,647 
Total Carbohydrate Solutions8,982 — 8,982 2,252 11,234 
Nutrition
Human Nutrition3,944 — 3,944 — 3,944 
Animal Nutrition3,405 — 3,405 — 3,405 
Total Nutrition7,349 — 7,349 — 7,349 
Total Segment Revenues23,019 923 23,942 61,157 85,099 
Other Business431 — 431 — 431 
Total Revenues$23,450 $923 $24,373 $61,157 $85,530 
Year Ended December 31, 2023
Topic 606 Revenue
Topic 815(1)
Total
Point in TimeOver TimeTotalRevenueRevenues
Ag Services and Oilseeds
Ag Services$4,110 $761 $4,871 $42,549 $47,420 
Crushing470 — 470 13,550 14,020 
Refined Products and Other2,295 — 2,295 9,691 11,986 
Total Ag Services and Oilseeds6,875 761 7,636 65,790 73,426 
Carbohydrate Solutions
Starches and Sweeteners7,431 — 7,431 2,454 9,885 
Vantage Corn Processors2,989 — 2,989 — 2,989 
Total Carbohydrate Solutions10,420 — 10,420 2,454 12,874 
Nutrition
Human Nutrition3,634 — 3,634 — 3,634 
Animal Nutrition3,577 — 3,577 — 3,577 
Total Nutrition7,211 — 7,211 — 7,211 
Total Segment Revenues24,506 761 25,267 68,244 93,511 
Other Business424 — 424 — 424 
Total Revenues$24,930 $761 $25,691 $68,244 $93,935 

Year Ended December 31, 2022
Topic 606 Revenue
Topic 815(1)
Total
Point in TimeOver TimeTotalRevenueRevenues
Ag Services and Oilseeds
Ag Services$4,053 $818 $4,871 $48,310 $53,181 
Crushing573 — 573 12,566 13,139 
Refined Products and Other2,724 — 2,724 10,519 13,243 
Total Ag Services and Oilseeds7,350 818 8,168 71,395 79,563 
Carbohydrate Solutions
Starches and Sweeteners7,696 — 7,696 2,555 10,251 
Vantage Corn Processors3,710 — 3,710 — 3,710 
Total Carbohydrate Solutions11,406 — 11,406 2,555 13,961 
Nutrition
Human Nutrition3,769 — 3,769 — 3,769 
Animal Nutrition3,867 — 3,867 — 3,867 
Total Nutrition7,636 — 7,636 — 7,636 
Total Segment Revenues26,392 818 27,210 73,950 101,160 
Other Business396 — 396 — 396 
Total Revenues$26,788 $818 $27,606 $73,950 $101,556 

(1) Topic 815 revenue relates to the physical delivery or the settlement of the Company’s sales contracts accounted for as derivatives and are outside the scope of Topic 606.
Ag Services and Oilseeds

The Ag Services and Oilseeds segment generates revenue from the sale of commodities, from service fees for the transportation of goods, from the sale of products manufactured in its global processing facilities, and from its structured trade finance activities.

The Company engages in various structured trade finance activities to leverage its global trade flows whereby the Company obtains letters of credit (LCs) to guarantee payments on both global purchases and sales of grain. LCs guaranteeing payment on grain sales are sold on a non-recourse basis with no continuing involvement. The Company earns returns from the difference in interest rates between the LCs that guarantee payment on the underlying purchases and sales of grain given the differing risk profiles of the underlying transactions. The net return related to structured trade finance activities is included in revenue and was not significant for the years ended December 31, 2024, 2023, and 2022.

Carbohydrate Solutions

The Carbohydrate Solutions segment generates revenue from the sale of products manufactured at the Company’s global corn and wheat milling facilities around the world. Revenue is recognized when control over products is transferred to the customer. Products are shipped to customers from the Company’s various facilities and from its network of storage terminals. The amount of revenue recognized is based on the consideration specified in the contract which could include freight and other costs depending on the specific shipping terms of each contract.

Nutrition

The Nutrition segment sells ingredients and solutions including plant-based proteins, natural flavors, flavor systems, natural colors, emulsifiers, soluble fiber, polyols, hydrocolloids, probiotics, prebiotics, postbiotics, enzymes, botanical extracts, edible beans, formula feeds, animal health and nutrition products, pet food and treats, and other specialty food and feed ingredients. Revenue is recognized when control over products is transferred to the customer. The amount of revenue recognized follows the contracted price or the mutually agreed price of the product.

Other Business

Other Business includes the Company’s futures commission business whose primary sources of revenue are commissions and brokerage income generated from executing orders and clearing futures contracts and options on futures contracts on behalf of its customers. Commissions and brokerage revenue are recognized on the date the transaction is executed.

Other Business also includes the Company’s captive insurance business which 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.
v3.25.0.1
Acquisitions
 12 Months Ended
Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Acquisitions Acquisitions
During the year ended December 31, 2024, the Company acquired Revela Foods, LLC (“Revela”), a Wisconsin-based developer and manufacturer of innovative dairy flavor ingredients and solutions, Fuerst Day Lawson Ltd. (“FDL”), a UK-based leading developer and producer of premium flavor and functional ingredient systems, PT Trouw Nutrition Indonesia (“PT”), a leading provider of functional and nutritional solutions for livestock farming in Indonesia, and Totally Natural Solutions Ltd. (“TNS”), a UK-based hops flavoring producer, for an aggregate cash consideration of $948 million.

The aggregate cash consideration of these acquisitions, net of $21 million in cash acquired, was allocated as follows, subject to final measurement period adjustments (in millions).

RevelaFDLPTTNSTotal
Working capital, net of cash acquired$49 $10 $6 $2 $67 
Property, plant, and equipment38 33 6 2 79 
Goodwill409 136 3 9 557 
Other intangible assets166 93 — 10 269 
Other long-term assets28 10 — — 38 
Long-term liabilities(42)(41)— — (83)
Aggregate cash consideration, net of cash acquired$648 $241 $15 $23 $927 

Goodwill recorded in connection with the acquisitions is primarily attributable to the synergies expected to arise after the Company’s acquisition of the businesses. Of the $557 million allocated to goodwill, $373 million is expected to be deductible for tax purposes.

These acquisitions add capabilities to the Company’s Nutrition segment. The Company’s Consolidated Statements of Earnings for the year ended December 31, 2024 includes the post-acquisition results of the acquired businesses which were immaterial.

The following table sets forth the fair values and the useful lives of the other intangible assets acquired as of December 31, 2024.
Useful Lives
Revela
FDL
TNS
Total
(In years)(In millions)
Intangible assets with finite lives:
Customer lists10to18$124 $73 $8 $205 
Recipes and others10
to
2142 20 2 64 
Total other intangible assets acquired$166 $93 $10 $269 
v3.25.0.1
Fair Value Measurements
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements 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, 2024 and 2023 (in millions).

 Fair Value Measurements at December 31, 2024
Level 1
Level 2
Level 3
Total
Assets:    
Inventories carried at market$— $3,930 $3,031 $6,961 
Unrealized derivative gains:    
Commodity contracts— 404 427 831 
Foreign exchange contracts
— 272 — 272 
Interest rate contracts— 5 — 5 
Cash equivalents70 — — 70 
Marketable securities246 — — 246 
Segregated investments1,681 — — 1,681 
Total Assets$1,997 $4,611 $3,458 $10,066 
Liabilities:    
Unrealized derivative losses:    
Commodity contracts$— $355 $405 $760 
Foreign exchange contracts
— 212 — 212 
Inventory-related payables— 654 88 742 
Total Liabilities$— $1,221 $493 $1,714 

 Fair Value Measurements at December 31, 2023
Level 1
Level 2
Level 3
Total
Assets:    
Inventories carried at market$— $4,274 $2,713 $6,987 
Unrealized derivative gains:    
Commodity contracts— 628 731 1,359 
Foreign currency contracts— 187 — 187 
Cash equivalents209 — — 209 
Segregated investments1,362 — — 1,362 
Total Assets$1,571 $5,089 $3,444 $10,104 
Liabilities:    
Unrealized derivative losses:    
Commodity contracts$— $500 $457 $957 
Foreign currency contracts— 144 — 144 
Inventory-related payables— 1,219 101 1,320 
Total Liabilities$— $1,863 $558 $2,421 
 
Inventories Carried at Market and Inventory-Related Payables

Estimated fair values of inventories and inventory-related payables stated 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 competitor and broker quotations or market transactions and are considered observable. Basis adjustments 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 basis adjustments. 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 (more than 10%) on the measurement of fair value, the inventory is classified in Level 3. Changes in the fair value of inventories and inventory-related payables are recognized in the Consolidated Statements of Earnings as a component of cost of products sold.

Unrealized Derivative Gains and Losses

Derivative contracts include exchange-traded commodity futures and options contracts, forward commodity purchase and sale contracts, and over-the-counter (OTC) instruments related primarily to agricultural commodities, energy, interest rates, and foreign currencies.

Substantially all of the Company’s exchange-traded commodity 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 competitor and broker quotations or market transactions and are considered observable. Basis adjustments 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 basis adjustments. 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 AOCI until the hedged items are recorded in earnings or it is probable the hedged transaction will no longer occur.

Cash Equivalents

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

Marketable Securities

The Company's marketable securities are comprised of foreign government securities. Government securities are valued using quoted market prices and are classified as Level 1.
Segregated Investments

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 as Level 1.

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, 2024 and 2023 (in millions).

 Level 3 Fair Value Assets Measurements at
December 31, 2024
Inventories
Carried at
Market		Commodity
Derivative
Contracts
Gains		Total
Opening balance, January 1, 2024$2,713 $731 $3,444 
Total increase (decrease) in net realized/unrealized gains included in cost of products sold646 1,010 1,656 
Purchases16,296 — 16,296 
Sales(16,609)— (16,609)
Settlements— (1,369)(1,369)
Transfers into Level 31,416 241 1,657 
Transfers out of Level 3(1,431)(186)(1,617)
Closing balance, December 31, 2024 (1)
$3,031 $427 $3,458 

(1) Includes increase in unrealized gains of $1.7 billion relating to Level 3 assets still held at December 31, 2024.

 Level 3 Fair Value Liabilities Measurements at
December 31, 2024
Inventory-
related
Payables		Commodity
Derivative
Contracts
Losses		Total
Opening balance, January 1, 2024$101 $457 $558 
Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense(12)1,124 1,112 
Purchases79 — 79 
Sales(81)— (81)
Settlements— (1,142)(1,142)
Transfers into Level 31 68 69 
Transfers out of Level 3— (102)(102)
Closing balance, December 31, 2024 (1)
$88 $405 $493 
 
(1) Includes increase in unrealized losses of $1.1 billion relating to Level 3 liabilities still held at December 31, 2024.
 
 Level 3 Fair Value Assets Measurements at
December 31, 2023
Inventories
Carried at
Market		Commodity
Derivative
Contracts
Gains		Total
Opening balance, January 1, 2023$2,760 $541 $3,301 
Total increase (decrease) in net realized/unrealized gains included in cost of products sold432 1,460 1,892 
Purchases29,929 — 29,929 
Sales(30,038)— (30,038)
Settlements(4)(1,559)(1,563)
Transfers into Level 31,584 371 1,955 
Transfers out of Level 3(1,950)(82)(2,032)
Closing balance, December 31, 2023 (1)
$2,713 $731 $3,444 

(1) Includes increase in unrealized gains of $2.1 billion relating to Level 3 assets still held at December 31, 2023.

 Level 3 Fair Value Liabilities Measurements at
December 31, 2023
Inventory-
related
Payables		Commodity
Derivative
Contracts
Losses		Debt Conversion OptionTotal
Opening balance, January 1, 2023$89 $603 $6 $698 
Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense5 1,303 (6)1,302 
Purchases49 — — 49 
Settlements(35)(1,583)— (1,618)
Transfers into Level 31 157 — 158 
Transfers out of Level 3(8)(23)— (31)
Closing balance, December 31, 2023 (1)
$101 $457 $— $558 

(1) Includes increase in unrealized losses of $1.3 billion relating to Level 3 liabilities still held at December 31, 2023.

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 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, 2024 and 2023. 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, 2024 was a weighted average 24.9% of the total price for assets and 31.3% of the total price for liabilities.

Weighted Average % of Total Price
 December 31, 2024December 31, 2023
Component TypeAssetsLiabilitiesAssetsLiabilities
Inventories and Related Payables    
Basis24.9%31.3%25.0%33.2%
Transportation cost10.8%—%11.5%—%
Commodity Derivative Contracts    
Basis21.8%23.4%24.2%24.9%
Transportation cost10.8%10.8%9.3%3.2%

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.
v3.25.0.1
Derivative Instruments & Hedging Activities
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments & Hedging Activities 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 forward commodity purchase or sale contracts, and inventories of certain merchandisable agricultural products, which include amounts acquired under deferred pricing contracts, are stated at fair value or 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, 2024 and 2023 (in millions).
 December 31, 2024December 31, 2023
 AssetsLiabilitiesAssetsLiabilities
Foreign Currency Contracts$272 $102 $187 $122 
Commodity Contracts828 760 1,343 957 
Total$1,100 $862 $1,530 $1,079 
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, 2024, 2023, and 2022 (in millions).
Cost of Other expense (income) - net
productsInterest
RevenuessoldExpense
Total
For the Year Ended December 31, 2024
Pre-tax gains (losses) on:
Foreign Currency Contracts$29 $(388)$— $142 
Commodity Contracts— 391 — — 
Total gain (loss) recognized in earnings$29 $3 $— $142 $174 
For the Year Ended December 31, 2023
Pre-tax gains (losses) on:
Foreign Currency Contracts$(33)$322 $— $43 
Commodity Contracts— 619 — — 
Debt Conversion Option— — 6 — 
Total gain (loss) recognized in earnings$(33)$941 $6 $43 $957 
For the Year Ended December 31, 2022
Pre-tax gains (losses) on:
Foreign Currency Contracts$(42)$367 $— $194 
Commodity Contracts— (120)— — 
Debt Conversion Option— — 9 — 
Total gain (loss) recognized in earnings$(42)$247 $9 $194 $408 

Changes in the market value of inventories of certain merchandisable agricultural commodities, inventory-related payables, 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.

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 on the purpose of the contract.

Derivatives Designated as Hedging Instruments

The Company had certain derivatives designated as cash flow and net investment hedges as of December 31, 2024 and 2023. In addition, the Company had certain derivatives designated as fair value hedges as of December 31, 2024.

Cash Flow Hedges

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 Statements of Earnings during the relevant period.
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. 

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 59 million bushels per month. During the past 12 months, the Company hedged between 12% and 31% of its monthly grind. At December 31, 2024, the Company had designated hedges representing between 9% to 26% of its anticipated monthly grind of corn for the next 12 months.

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, subject to certain program limits. 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, subject to certain program limits. During the past 12 months, the Company hedged between 76% and 100% of the anticipated monthly soybean crush for soybean purchases and soybean meal and oil sales at the designated facilities. At December 31, 2024, the Company had designated hedges representing between 5% 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 Company uses futures and OTC swaps to hedge the purchase price of anticipated volumes of natural gas consumption in a future month for certain of its facilities in North America and Europe, subject to certain program limits. During the past 12 months, the Company hedged between 41% and 74% of the anticipated monthly natural gas consumption at the designated facilities. At December 31, 2024, the Company had designated hedges representing between 35% and 50% of the anticipated monthly natural gas consumption over the next 12 months.

As of December 31, 2024 and 2023, the Company had after-tax losses of $13 million and after-tax gains of $42 million in AOCI, respectively, related to gains and losses from these programs. The Company expects to recognize $13 million of the 2024 after-tax losses in its Consolidated Statements of Earnings during the next 12 months.

Fair Value Hedges

The Company uses interest rate swaps designated as fair value hedges to protect the fair value of fixed-rate debt due to changes in interest rates. The changes in the fair value of the interest rate swaps and the underlying fixed-rate debt is recognized in the Consolidated Statements of Earnings during the current period. The terms of the interest rate swaps match the terms of the underlying debt. The Company executed fixed-to-floating rate interest rate swaps with an aggregate notional amount of $500 million as of December 31, 2024. As of December 31, 2024, the Company had pre-tax gains of $5 million in other current assets related to interest rate swaps and a corresponding offset to the underlying debt for the same amount, with no net impact to earnings.

Net Investment Hedges

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 had USD-fixed to Euro-fixed cross-currency swaps with an aggregate notional amount of $394 million and $805 million as of December 31, 2024 and 2023, respectively, and foreign exchange forwards with an aggregate notional amount of $2.1 billion as of each of December 31, 2024 and 2023. Amounts excluded from the assessment of hedge effectiveness are immaterial for all periods presented.
As of December 31, 2024 and 2023, the Company had after-tax losses of $99 million and $5 million in AOCI, respectively, related to foreign exchange gains and losses from net investment hedge transactions. The amount is deferred in AOCI until the underlying investment is divested.
The following table sets forth the fair value of derivatives designated as hedging instruments as of December 31, 2024 and 2023 (in millions).
 December 31, 2024December 31, 2023
 AssetsLiabilitiesAssetsLiabilities
Commodity Contracts$3 $— $16 $— 
Interest Rate Contracts5 — — — 
Foreign Currency Contracts— 110 — 22 
Total$8 $110 $16 $22 

The following table sets forth the pre-tax gains (losses) on derivatives designated as cash flow hedging instruments that have been included in the Consolidated Statements of Earnings for the years ended December 31, 2024, 2023, and 2022 (in millions).
Cost of products sold
For the Year Ended December 31, 2024
Pre-tax gains (losses) on:
Commodity Contracts$(77)
For the Year Ended December 31, 2023
Pre-tax gains (losses) on:
Commodity Contracts$322 
For the Year Ended December 31, 2022
Pre-tax gains (losses) on:
Commodity Contracts$351 
The Company has also designated $674 million (€650 million) of its outstanding long-term debt and commercial paper borrowings at each of December 31, 2024 and 2023, as hedges of its net investment in a foreign subsidiary. As of December 31, 2024 and 2023, the Company had after-tax gains of $251 million and $212 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.
v3.25.0.1
Other Current Assets
 12 Months Ended
Dec. 31, 2024
Other Assets [Abstract]  
Other Current Assets Other Current Assets
The following table sets forth the items in other current assets (in millions):

December 31, 2024December 31, 2023
Unrealized gains on derivative contracts$1,108 $1,546 
Margin deposits and grain accounts516 560 
Customer omnibus receivable872 1,052 
Financing receivables - net (1)
258 237 
Insurance premiums receivable76 61 
Prepaid expenses279 445 
Biodiesel tax credit104 119 
Tax receivables539 491 
Non-trade receivables393 304 
Other current assets224 167 
 $4,369 $4,982 

(1) Interest earned on financing receivables of $18 million, $21 million, and $15 million for the years ended December 31, 2024, 2023, and 2022, respectively, is included in Interest and investment income in the Consolidated Statements of Earnings.
v3.25.0.1
Accrued Expenses And Other Payables
 12 Months Ended
Dec. 31, 2024
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 (in millions).
 
December 31, 2024December 31, 2023
Unrealized losses on derivative contracts$972 $1,101 
Accrued compensation346 439 
Income tax payable167 284 
Other taxes payable138 172 
Accrued interest payable
153 142 
Insurance liabilities
172 117 
Contract liabilities (1)
534 626 
Other deferred income
156 150 
Other accruals and payables1,092 1,045 
 $3,730 $4,076 

(1) Contract liabilities relate to advance payments from customers for goods and services the Company has yet to provide. Revenues recognized in the year ended December 31, 2024 from contract liabilities as of December 31, 2023 were $529 million.
v3.25.0.1
Investments in and Advances to Affiliates
 12 Months Ended
Dec. 31, 2024
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 the Company has the ability to exercise significant influence.

Wilmar Investment

The Company had a 22.5% share ownership in Wilmar as of December 31, 2024 and 2023. During the year ended December 31, 2024, the Company’s investment in Wilmar was written down to its fair value, resulting in a pre-tax impairment charge of $461 million recorded in asset impairment, exit, and restructuring costs within the Consolidated Statement of Earnings. Subsequent to this impairment, the Company continues to monitor its investment in Wilmar for impairment. The Company’s investment in Wilmar had a carrying value of $3.9 billion as of December 31, 2024, and a market value of $3.2 billion based on the quoted Singapore Exchange market price, converted to U.S. dollars at the applicable exchange rate, at December 31, 2024.

In accordance with its accounting policy, as of December 31, 2024, the Company evaluated several factors in its determination of whether an other-than-temporary impairment of its investment in Wilmar had occurred as of that date. This included consideration of the short duration of the carrying value being above Wilmar's stock price, the recent performance of Wilmar’s stock price as quoted on the Singapore Exchange, latest consensus analyst forecasts, Wilmar’s long history of earnings and dividends and the Company’s continued representation on Wilmar’s Board. The Company considers its investment in Wilmar a significant and strategic relationship and has the intent and ability to retain its investment in Wilmar for a period of time sufficient to allow for any anticipated recovery in market value. Based on the evaluation of the factors above, the Company does not consider the investment to be other-than temporarily impaired at December 31, 2024. The Company will continue to reassess its investment in Wilmar which may result in the recognition of an other-than-temporary impairment in the future.

Other Investments

As of December 31, 2024, the Company also holds equity method investments in Pacificor (32.2%), Stratas Foods LLC (50.0%), Edible Oils Limited (50.0%), Olenex (37.5%), SoyVen (50.0%), Hungrana Ltd (50.0%), Almidones Mexicanos S.A. (50.0%), Terminal de Grãos Ponta da Montanha S.A. (50.0%), Gradable, LLC (50.0%), Aston Foods and Food Ingredients (50.0%), Red Star Yeast Company, LLC (40.0%), LSCP, LLLP (22.1%), Vimison S.A. de C.V. (45.3%), ADM Matsutani LLC (50%), Matsutani Singapore Pte. Ltd. (50%), ADM Vland Biotech Shandong Co., Ltd. (50%), Dusial S.A. (42.8%), and Vitafort ZRT (34.3%).

Summarized Financial Information

The Company had 69 and 73 unconsolidated domestic and foreign affiliates as of December 31, 2024 and 2023, respectively. The following tables summarize the aggregated balance sheets as of December 31, 2024 and 2023, and the aggregated statements of earnings of the Company’s unconsolidated affiliates for the years ended December 31, 2024, 2023, and 2022 (in millions).
December 31,
20242023
Current assets$33,065 $41,032 
Non-current assets28,962 29,773 
Current liabilities(27,357)(33,812)
Non-current liabilities(8,772)(8,973)
Non-controlling interests(2,499)(2,489)
Net assets$23,399 $25,531 
Year Ended December 31
202420232022
Revenues$77,251 $85,754 $109,448 
Gross profit3,673 4,261 8,946 
Net earnings2,036 2,452 3,140 

The Company’s share of the undistributed earnings of its unconsolidated affiliates as of December 31, 2024 was $6.1 billion. 

Transactions and Balances with Investees

Net sales to unconsolidated affiliates during the years ended December 31, 2024, 2023, and 2022 were $6.7 billion, $7.0 billion, and $7.8 billion, respectively.

Accounts receivable due from unconsolidated affiliates as of December 31, 2024 and 2023 was $342 million and $167 million, respectively.
The Company provides credit facilities totaling $142 million to seven unconsolidated affiliates. One facility that bears interest at 5.9% has an outstanding balance of $2 million, one facility that bears interest at 6.9% has an outstanding balance of $7.5 million, and one facility that bears interest at 4.2% has an outstanding balance of $7.5 million while the remaining facilities have no outstanding balance as of December 31, 2024. The outstanding balance is included in other current assets in the Company's Consolidated Balance Sheets.
v3.25.0.1
Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
Goodwill

Changes in the carrying amount of goodwill by reportable segment and Other Business for the years ended December 31, 2024 and 2023 are as follows (in millions):
 
Ag Services & Oilseeds
Carbohydrate Solutions
Nutrition
Other Business
Total
Balance at December 31, 2022
$193 $224 $3,731 $14 $4,162 
Acquisitions
20 — — — 20 
Impairments
— — (137)— (137)
Currency translation adjustments and other
22 — 46 (10)58 
Balance at December 31, 2023
$235 $224 $3,640 $4 $4,103 
Acquisitions— — 557 — 557 
Currency translation adjustments and other(17)(8)(127)1 (151)
Balance at December 31, 2024
$218 $216 $4,070 $5 $4,509 

As of each of December 31, 2024 and 2023, accumulated impairment for goodwill was $156 million.

During the year ended December 31, 2024, the Company evaluated goodwill for impairment using a qualitative assessment for two reporting units and using a quantitative assessment for five reporting units.
Per the results of the impairment testing within the Ag Services and Oilseeds (AS&O) reportable segment for the year ended December 31, 2024, the estimated fair value of the Ag Services, Crushing, and RPO reporting units evaluated for impairment using a quantitative assessment was in excess of 128%, 191% and 209% of its carrying value, respectively, and no impairment was recorded for any of the AS&O reporting units. Per the results of the impairment testing within the Nutrition reportable segment for the year ended December 31, 2024, the estimated fair value of the Animal Nutrition and Human Nutrition reporting units evaluated for impairment using a quantitative assessment was in excess of 7% and 32% of its carrying value, respectively, and no impairment was recorded for either of the Nutrition reporting units.

The Company used a combination of the income and market approaches when performing the quantitative assessment of goodwill for the Animal Nutrition reporting unit. The Company weighted the income approach with a probability weight of 75%, as it is based on the future business plans and growth estimates for the Company’s Animal Nutrition business and thus considers short-term and long-term cash flow expectations for the business. The market approach was weighted less heavily at 25%, as it represents an estimate of fair value based on market guideline companies for which future growth expectations are not precisely known.

During the year ended December 31, 2023, the Company recorded a goodwill impairment charge of $137 million related to the Animal Nutrition reporting unit that was evaluated for impairment using a quantitative assessment. The decline in the fair value of the Animal Nutrition reporting unit was primarily driven by a higher discount rate due to changes in the underlying business performance and industry conditions as well as the macroeconomic environment, causing a decline in the projected cash flows. Following the recording of the impairment charge, the remaining carrying value of goodwill in the Animal Nutrition reporting unit as of December 31, 2023 was $946 million. There was no goodwill impairment charge recorded for the year ended December 31, 2022.

Other Intangible Assets

The following table sets forth the detail on other intangible assets.
December 31, 2024December 31, 2023
UsefulGrossAccumulatedGrossAccumulated
LifeAmountAmortizationNetAmountAmortizationNet
(In years)(In millions)
Intangible assets with indefinite lives:
Trademarks/brands$290 $— $290 $375 $— $375 
Other— — — 58 — 58 
Intangible assets with definite lives:
Trademarks/brands5to2086 (42)44 53 (35)18 
Customer lists1to301,687 (708)979 1,544 (627)917 
Capitalized software and related costs5to8964 (612)352 950 (523)427 
Land rights20to6589 (27)62 107 (30)77 
Other intellectual property5to20187 (142)45 211 (135)76 
Recipes and other1to35620 (339)281 511 (304)207 
Intangible assets in process207 — 207 83 — 83 
Total$4,130 $(1,870)$2,260 $3,892 $(1,654)$2,238 

The changes in the gross amounts during the year ended December 31, 2024 were primarily related to acquisitions of $269 million, and additions to capitalized software and intangible assets in process of $134 million, partially offset by foreign currency and other adjustments of $122 million and impairments of $43 million.
Aggregate amortization expense was $266 million, $234 million, and $235 million for the years ended December 31, 2024, 2023, and 2022, respectively, of which $89 million, $72 million, and $69 million, respectively, were for amortization of capitalized software and related costs.
The estimated future annual amortization expense for the next five years for intangible assets recorded at December 31, 2024 is $285 million, $284 million, $272 million, $266 million, and $205 million, respectively.
v3.25.0.1
Debt Financing Arrangements
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Debt Financing Arrangements Debt Financing Arrangements
The Company’s long-term debt consisted of the following (in millions, except as noted):
Debt Instrument
Interest RateFace AmountDue DateDecember 31, 2024December 31, 2023
1.000% Notes€650 million2025$672 $717 
2.500% Notes$1 billion2026999 998 
7.500% Debentures$147 million 2027147 147 
6.750% Debentures$103 million 2027103 103 
6.625% Debentures$144 million 2029144 144 
3.250% Notes$1 billion2030993 991 
7.000% Debentures$160 million 2031161 159 
2.900% Notes$750 million2032745 744 
5.935% Debentures$336 million 2032337 334 
4.500% Notes
$500 million2033493 492 
5.375% Debentures$432 million 2035426 426 
6.450% Debentures$103 million 2038103 102 
5.765% Debentures$297 million 2041297 297 
4.535% Debentures$383 million 2042291 288 
4.016% Debentures$371 million 2043266 263 
3.750% Notes$408 million 2047403 403 
4.500% Notes$600 million2049589 589 
2.700% Notes$750 million2051732 732 
6.950% Debentures$157 million 2097154 154 
Other199 177 
Total long-term debt including current maturities8,254 8,260 
Current maturities(674)(1)
Total long-term debt$7,580 $8,259 
 
Discount amortization expense, net of premium amortization, of $13 million, $15 million, and $6 million for the years ended December 31, 2024, 2023, and 2022, respectively, are included in interest expense related to the Company’s long-term debt.

At December 31, 2024, the fair value of the Company’s long-term debt, excluding current portion, was $7.1 billion, as estimated using quoted market prices (a Level 2 measurement under applicable accounting standards), compared to a carrying value of $7.6 billion.

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 was in compliance with these covenants as of December 31, 2024.
The aggregate future maturities of long-term debt as of December 31, 2024 are as follows (in millions):

Amount
2025$675 
20261,007 
2027265 
20281 
2029145 
Thereafter
6,428 
Total estimated future maturities
$8,521 

At December 31, 2024, the Company had lines of credit, including the accounts receivable securitization programs described below, totaling $13.0 billion, of which $9.1 billion was unused. 

The Company had outstanding standby letters of credit and surety bonds at December 31, 2024 and 2023, totaling $1.4 billion and $1.6 billion, respectively.

The Company has accounts receivable securitization programs (the “Programs”). The Programs provide the Company with up to $2.8 billion in funding resulting from the sale of accounts receivable. As of December 31, 2024, the Company utilized $2.0 billion of its facility under the Programs. See Note 19. Sale of Accounts Receivable for further information on the Programs.

The weighted average interest rates on short-term borrowings outstanding at December 31, 2024 and 2023, were 4.7% and 7.4%, respectively. Of the Company’s total lines of credit, $5.1 billion supported the combined U.S. and European commercial paper borrowing programs, against which there was $1.7 billion of commercial paper outstanding at December 31, 2024.

Credit Ratings

As of December 31, 2024, the three major credit rating agencies maintained the Company’s credit ratings at investment grade levels with a negative outlook.
v3.25.0.1
Stock Compensation
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Stock Compensation Stock Compensation
Total compensation expense for stock option grants, Restricted Stock Awards, and PSUs recognized during the years ended December 31, 2024, 2023, and 2022 was $74 million, $112 million, and $147 million, respectively. Changes in incentive compensation expense from period to period are primarily caused by the level of attainment of the PSU performance criteria described below.

Stock Option Grants

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. No options were granted in 2024, 2023, and 2022.
A summary of option activity during 2024 is presented below (in thousands, except per share amounts):
SharesWeighted-Average
Exercise Price
Shares under option at December 31, 20231,614 $37.11
Exercised(567)44.38
Shares under option at December 31, 20241,047 $33.18
Exercisable at December 31, 20241,047 $33.18

The weighted-average remaining contractual term of options outstanding and exercisable at December 31, 2024, was 1 year. 

The aggregate intrinsic value of options outstanding and exercisable at December 31, 2024, was $19 million. The total intrinsic values of options exercised during the years ended December 31, 2024, 2023, and 2022, were $9 million, $20 million, and $117 million, respectively. Cash proceeds received from options exercised during the years ended December 31, 2024, 2023, and 2022, were $25 million, $20 million, and $90 million, respectively, and are presented as financing activities within the Consolidated Statements of Cash Flows under Other - net.

Restricted Stock Awards and PSUs

The Company’s 2020 Incentive Compensation Plan provides for the granting of restricted stock and restricted stock units at no cost to certain officers and key employees. In addition, the Company’s 2020 Incentive Compensation Plan also provides for the granting of 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. Starting with the February 2023 grant, Restricted Stock Awards have a three-year graded vesting schedule and vest at 33.33% each year.

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 Company performance criteria. During the years ended December 31, 2024, 2023, and 2022, 2.6 million, 1.7 million, and 2.3 million common stock or stock units, respectively, were granted as Restricted Stock Awards and PSUs. At December 31, 2024, there were 11.2 million shares available for future grants pursuant to the 2020 Incentive Compensation Plan.

The fair value of Restricted Stock Awards and PSUs is determined based on the market value of the Company’s shares on the grant date. The weighted-average grant-date fair values of awards granted during the years ended December 31, 2024, 2023, and 2022 were $55.16, $78.90, and $70.13, respectively.

A summary of Restricted Stock Awards and PSUs activity during 2024 is presented below (in thousands, except per share amounts):
Restricted
Stock Awards and PSUs
Weighted Average
Grant-Date Fair Value
Per Share
Non-vested at January 1, 20245,332 $69.82
Granted2,635 55.16
Vested(2,396)58.70
Forfeited(286)67.19
Non-vested at December 31, 20245,285 $68.77
At December 31, 2024, there was $89 million of total unrecognized compensation expense related to Restricted Stock Awards and PSUs. Amounts to be recognized as compensation expense during the years ended December 31, 2025, 2026, and 2027 are expected to be $58 million, $27 million, and $4 million, respectively, based on expected Company performance and award service conditions.

The total grant-date fair value of Restricted Stock Awards and PSU's that vested during the year ended December 31, 2024 was $141 million.
v3.25.0.1
Other (Income) Expense - Net
 12 Months Ended
Dec. 31, 2024
Other Income and Expenses [Abstract]  
Other (Income) Expense - Net Other (Income) Expense – Net
The following table sets forth the items in other (income) expense (in millions). 
Year Ended December 31
 202420232022
Gains on sale of assets$(27)$(38)$(78)
Other – net(224)(138)(280)
 $(251)$(176)$(358)

Other - net in the year ended December 31, 2024 included the non-service components of net pension benefit income of $18 million, net foreign exchange gains of $46 million, third party insurance recoveries of $133 million, and net other income.

Other - net for the year ended December 31, 2023 included the non-service components of net pension benefit income of $18 million, net foreign exchange gains of $85 million, and net other income.

Other - net for the year ended December 31, 2022 included a legal recovery related to the 2019 and 2020 closure of the Company’s export facility in Reserve, Louisiana of $110 million, net foreign exchange gains of $105 million, a $50 million one-time payment from the USDA Biofuel Producer Recovery Program, and the non-service components of net pension benefit income of $25 million, partially offset by net other expense.
v3.25.0.1
Income Taxes
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The following table sets forth the geographic split of earnings before income taxes (in millions).
Year Ended December 31
 202420232022
United States$656 $1,844 $2,725 
Foreign1,599 2,450 2,508 
Total Earnings Before Income Taxes
$2,255 $4,294 $5,233 

Significant components of income tax expense are as follows (in millions):
Year Ended December 31
 202420232022
Current expense
 
Federal$108 $291 $379 
State8 47 97 
Foreign490 513 481 
$606 $851 $957 
Deferred expense (benefit)
 
Federal(99)(52)23 
State6 (10)7 
Foreign(37)39 (119)
$(130)$(23)$(89)
Income tax expense
$476 $828 $868 
Significant components of deferred tax liabilities and assets are as follows (in millions):
December 31, 2024December 31, 2023
Deferred tax liabilities 
Property, plant, and equipment$808 $827 
Intangibles343 358 
Right of use assets317 263 
Equity in earnings of affiliates236 214 
Debt exchange49 50 
Reserves and other accruals133 49 
Other30 137 
 $1,916 $1,898 
Deferred tax assets 
Pension and postretirement benefits$95 $111 
Inventories12 20 
Lease liabilities323 268 
Stock compensation36 42 
Foreign tax loss carryforwards386 494 
Capital loss carryforwards41 42 
State tax attributes23 25 
US carryforwards
196 27 
Other111 71 
Gross deferred tax assets1,223 1,100 
Valuation allowances(223)(216)
Net deferred tax assets$1,000 $884 
Net deferred tax liabilities$916 $1,014 
The net deferred tax liabilities are classified as follows: 
Noncurrent assets
$352 $295 
Noncurrent liabilities(1,268)(1,309)
 $(916)$(1,014)

Net Operating Losses and Valuation Allowances

The Company had $386 million and $494 million of tax assets related to net operating loss carryforwards of certain international subsidiaries at December 31, 2024 and 2023, respectively. As of December 31, 2024, approximately $314 million of these assets have no expiration date, and the remaining $72 million expire at various times through fiscal 2034. 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 $166 million and $160 million against these tax assets at December 31, 2024 and 2023, respectively, due to the uncertainty of their realization.

The Company had $41 million of tax assets related to foreign capital loss carryforwards at each of December 31, 2024 and 2023. The Company recorded a valuation allowance of $41 million against these tax assets at each of December 31, 2024 and 2023 due to the uncertainty of their realization.
The Company had $196 million of tax assets related to U.S. income tax attributes at December 31, 2024, of which $39 million will expire between 2029 and 2034, $89 million will expire in 2044, and the remaining $68 million have no expiration date.

The Company had $23 million and $25 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, 2024 and 2023, respectively, a majority of which will expire between 2025 and 2029. Due to the uncertainty of realization, the Company recorded a valuation allowance of $16 million and $14 million related to state income tax assets net of federal tax benefit as of December 31, 2024 and 2023, respectively. The change in the valuation allowance was related to the increase in the state income tax attributes over what was reserved in prior years.

In assessing the need for a valuation allowance, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. During 2024, the Company increased valuation allowances primarily related to net operating loss carryforwards.
The activity related to the income tax valuation allowance for the years ended December 31, 2024, 2023, and 2022 was as follows (in millions):
Year Ended December 31
202420232022
Opening balance, January 1
$216 $209 $281 
Additions
40 58 18 
Deductions
(33)(51)(90)
Ending balance, December 31
$223 $216 $209 

Income Tax Rate Reconciliation

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
 202420232022
US Federal Statutory rate
21.0 %21.0 %21.0 %
State income taxes, net of federal tax benefit0.2 0.9 1.4 
Foreign earnings taxed at rates other than the U.S. statutory rate2.2 (0.3)(3.8)
Foreign currency effects/remeasurement(4.8)0.5 0.6 
Withholding Tax
1.8 0.1 — 
Impairment of Investments4.3 0.5 — 
Change in Uncertain Tax Position
3.2 0.1 0.5 
Tax benefit on U.S. biodiesel credits(2.9)(1.7)(1.2)
Second-generation biofuel credit
(1.2)— — 
U.S. railroad credits
(2.5)(1.5)(1.2)
U.S. tax on foreign earnings0.6 1.2 0.2 
Other(0.8)(1.5)(0.9)
Effective income tax rate21.1 %19.3 %16.6 %

The effective tax rates for 2024 and 2023 were impacted by the tax impact of impairments on investments and the Company's geographic mix of earnings. The effective tax rate for 2022 was impacted by the Company's geographic mix of earnings and discrete tax items.

ADM’s operations in foreign jurisdictions accounted for 71%, 57%, and 48% of the Company’s total pre-tax earnings in fiscal years 2024, 2023, and 2022, respectively. The foreign rate differential was primarily due to various tax rates applicable to the income earned from the Company’s operations in Europe, Asia, South America and the Caribbean.
U.S. Legislative Changes

On August 16, 2022, the U.S. government enacted the Inflation Reduction Act of 2022 (the “Inflation Act”), which includes, among other provisions, changes to the U.S. corporate income tax system, including a 15% minimum tax based on “adjusted financial statement income,” and a one percent excise tax on net repurchases of stock for tax years beginning after December 31, 2022. While the Inflation Act has no immediate impact and is not expected to have a material adverse effect on ADM’s results of operations going forward, the Company will continue to evaluate its impact as further information becomes available.

Other Matters

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, 2024, the Company’s remaining transition tax liability was $61 million, which will be paid in 2025.

The Company incurred U.S. taxable income of $674 million, $425 million, and $684 million related to Global Intangible Low-Taxed Income (GILTI) and deducted $16 million, $77 million, and $67 million related to Foreign Derived Intangible Income Deduction in fiscal years 2024, 2023, and 2022, 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. 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.

Unrecognized Tax Benefits

The following table sets forth a rollforward of activity of unrecognized tax benefits for the year ended December 31, 2024 and 2023 (in millions).
 
December 31,
 20242023
Opening balance, January 1
$168 $151 
Net additions related to current year’s tax positions
12 2 
Net additions related to prior years’ tax positions
57 28 
Additions (adjustments) related to acquisitions2 — 
Reductions related to lapse of statute of limitations(6)(6)
Settlements with tax authorities(48)(7)
Ending balance, December 31
$185 $168 

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, 2024 and 2023, the Company had accrued interest and penalties on unrecognized tax benefits of $59 million and $52 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 $183 million on the tax expense for that period.

The Company remains subject to federal examination in the U.S. for the calendar tax years 2018 through 2024. In the year ended December 31, 2014, the Company’s wholly-owned subsidiary in the Netherlands, ADM Europe B.V., received a tax assessment of $122 million, including interest, from the Netherlands tax authority challenging the transfer pricing aspects of a business reorganization implemented in the year ended December 31, 2009. On July 11, 2024, the Tax Court of Appeals issued a ruling decreasing the assessment to $52 million, including interest. The Company decided not to appeal the decision further, and therefore the Tax Court of Appeals order is final. As of December 31, 2024, the Company has paid the final assessed amount, and the issue is considered settled.
v3.25.0.1
Leases
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Leases Leases
The following table sets forth the amounts relating to the Company’s total lease cost and other information (in millions).

Year Ended December 31
202420232022
Lease cost:
Operating lease cost$410 $390 $356 
Short-term lease cost135 126 127 
Total lease cost$545 $516 $483 
Other information:
Operating lease liability principal payments (1)
$397 $374 $339 
Right-of-use assets obtained in exchange for new operating lease liabilities$437 $327 $357 
December 31
20242023
Weighted-average remaining lease term - operating leases (in years)77
Weighted average discount rate - operating leases4.5 %4.1 %
    

(1) Operating lease payments are presented as operating activities within the Consolidated Statements of Cash Flows.
The aggregate future lease payments for operating leases as of December 31, 2024 are as follows (in millions):
 Undiscounted
 Cash Flows
2025$377 
2026284 
2027231 
2028180 
2029122 
Thereafter442 
Total undiscounted minimum lease payments1,636 
Less: Interest (1)
(255)
Lease liability$1,381 

(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.
v3.25.0.1
Employee Benefit Plans
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Employee Benefit Plans 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 also provides certain eligible U.S. employees who retire under qualifying conditions with subsidized postretirement health care coverage or Health Care Reimbursement Accounts.

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. Assets of the Company’s 401(k) plans consist primarily of listed common stocks and pooled funds. The Company’s 401(k) plans held 5.6 million shares of Company common stock at December 31, 2024, with a market value of $282 million. Cash dividends received on shares of Company common stock by these plans during the year ended December 31, 2024 were $11 million.
The following table sets forth the components of retirement plan expense for the years ended December 31, 2024, 2023, and 2022 (in millions).
 Pension BenefitsPostretirement Benefits
Year Ended December 31Year Ended December 31
202420232022202420232022
Retirement plan expense
Defined benefit plans:
Service cost (benefits earned during the period)$46 $41 $48 $— $— $1 
Interest cost79 76 48 5 6 3 
Expected return on plan assets(89)(83)(79)— — — 
Settlement charges2 — — — — — 
Curtailments— — (2)— — — 
Amortization of actuarial loss5 3 17 3 2 5 
Amortization of prior service cost (credit)(20)(20)(20)— — — 
Net periodic defined benefit plan expense23 17 12 8 8 9 
Defined contribution plans76 73 67 — — — 
Total retirement plan expense$99 $90 $79 $8 $8 $9 
Net actuarial loss (gain)
$(38)$46 $(88)$(5)$4 $(29)
Prior service cost
26 19 20 — — — 
Total pre-tax comprehensive loss (income)
$(12)$65 $(68)$(5)$4 $(29)
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, 2024 and 2023 (in millions).
 Pension BenefitsPostretirement Benefits
December 31
2024		December 31
2023		December 31
2024		December 31
2023
Change in benefit obligations:
Benefit obligation, beginning$1,765 $1,587 $113 $118 
Service cost46 41 — — 
Interest cost79 76 5 6 
Actuarial loss (gain)(111)83 (3)6 
Employee contributions4 3 — — 
Benefits paid(62)(53)(14)(17)
Plan amendments6 — — — 
Foreign currency effects and Other
(54)28 1 — 
Benefit obligation, ending$1,673 $1,765 $102 $113 
Change in plan assets
Fair value of plan assets, beginning$1,415 $1,269 $— $— 
Actual return on plan assets7 121 — — 
Employer contributions26 54 14 17 
Employee contributions4 3 — — 
Benefits paid(62)(53)(14)(17)
Foreign currency effects and Other
(39)21 — — 
Fair value of plan assets, ending$1,351 $1,415 $— $— 
Funded status$(322)$(350)$(102)$(113)
Amounts recognized in the Consolidated Balance Sheets consist of:
Other assets (non-current)
$68 $63 $— $— 
Accrued expenses and other payables
(19)(19)(13)(14)
Other long-term liabilities
(371)(394)(89)(99)
Net amount recognized in the Consolidated Balance Sheets
$(322)$(350)$(102)$(113)

In 2024, the actuarial gains in the pension plans were primarily driven by increases in the global bond yields, which were partially offset by unfavorable asset performances in the funded plans in the U.S. and the U.K.

The Company uses the corridor approach when amortizing actuarial losses. Under the corridor approach, net unrecognized actuarial losses in excess of 10% of the greater of the projected benefit obligation or the market related value of plan assets are amortized over future periods. For plans with little to no active participants, the amortization period is the remaining average life expectancy of the participants. For plans with active participants, the amortization period is the remaining average service period of the active participants. The amortization periods range from 4 to 27 years for the Company’s defined benefit pension plans and from 5 to 18 years for the Company’s postretirement benefit plans.

Included in AOCI for pension benefits at December 31, 2024, are the following amounts that have not yet been recognized in net periodic pension cost: unrecognized prior service credit of $30 million and unrecognized actuarial loss of $235 million.

Included in AOCI for postretirement benefits at December 31, 2024, are the following amounts that have not yet been recognized in net periodic postretirement benefit cost: unrecognized prior service cost of $1 million and unrecognized actuarial loss of $15 million. 
The following table sets forth the principal assumptions used in developing net periodic benefit cost:
 Pension BenefitsPostretirement Benefits
December 31
2024		December 31
2023		December 31
2024		December 31
2023
Discount rate4.5%4.8%4.9%5.1%
Expected return on plan assets6.0%6.0%N/AN/A
Rate of compensation increase4.8%4.3%N/AN/A
Interest crediting rate4.0%3.9%N/AN/A

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

 Pension BenefitsPostretirement Benefits
December 31
2024		December 31
2023		December 31
2024		December 31
2023
Discount rate5.0 %4.5 %5.5%4.9%
Rate of compensation increase4.8 %4.8 %N/AN/A
Interest crediting rate4.6 %4.0 %N/AN/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 $1.4 billion, $1.4 billion, and $1.0 billion, respectively, as of December 31, 2024, and $1.5 billion, $1.5 billion, and $1.0 billion, respectively, as of December 31, 2023. 

For postretirement benefit measurement purposes, a 8.7% annual rate of increase in the per capita cost of covered health care benefits was assumed for the year ended December 31, 2024. The rate was assumed to decrease gradually to 4.5% by 2034 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 U.S. and international equity, fixed income, and other securities. 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, 2024 and 2023 (in millions).
 Fair Value Measurements at December 31, 2024
Level 1
Level 2
Level 3
Total
Common stock$36 $— $— $36 
Mutual funds154 — — 154 
Corporate bonds— 517 — 517 
U.S. Treasury instruments161 — — 161 
U.S. government agency, state and local government bonds
— 4 — 4 
Other13 18 — 31 
Total assets$364 $539 $— $903 
Common collective trust funds at NAV
U.S. equity30 
International equity67 
Fixed income298 
Other53 
Total assets at fair value$1,351 

 Fair Value Measurements at December 31, 2023
Level 1
Level 2
Level 3
Total
Common stock$37 $— $— $37 
Mutual funds147 — — 147 
Corporate bonds— 473 — 473 
U.S. Treasury instruments262 — — 262 
U.S. government agency, state and local government bonds
— 8 — 8 
Other— 7 — 7 
Total assets$446 $488 $— $934 
Common collective trust funds at NAV
U.S. equity15 
International equity60 
Fixed income330 
Other76 
Total assets at fair value$1,415 

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 2024(1)(2)
December 31
2023(2)
Equity securities21%19%
Debt securities68%77%
Other11%4%
Total100%100%

(1)The Company’s U.S. pension plans contain approximately 68% 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 23% equity securities, 74% debt securities, and 3% other. 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 18% equity securities, 56% debt securities, and 26% other. 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, 2024 and 2023 measurement dates. 

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

–Optimize the long-term return on plan assets in consideration of funded status risk.
–Maintain a broad diversification of assets and appropriate risk exposure across asset classes.
–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.
Future Contributions and Expected Benefit Payments

Based on actuarial calculations, the Company expects to contribute $25 million to the pension plans and $13 million to the postretirement benefit plan during 2025. 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 (in millions):
 
Pension
Benefits		Postretirement
Benefits
2025$76 $13 
202683 12 
202789 11 
202896 10 
2029102 10 
2030-2034590 39 
v3.25.0.1
Shareholders' Equity
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Shareholders' Equity Shareholders’ Equity
The 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, 2024 and 2023, the Company had approximately 237.6 million shares and 202.5 million shares, respectively, of its common shares in treasury. 

Treasury stock of $4.8 billion and $4.9 billion at December 31, 2024 and 2023, respectively, is recorded at cost as a reduction of common stock, and treasury stock of $2.3 billion and $2.7 billion at December 31, 2024 and 2023, respectively, is recorded at cost as a reduction of reinvested earnings.
The following tables set forth the changes in AOCI by component and the reclassifications out of AOCI for the years ended December 31, 2024, 2023, and 2022 (in millions).
 
 
Foreign
Currency
Translation
Adjustments
 
Deferred
Gain (Loss)
on Hedging
Activities
Pension and
Other
Postretirement
Benefit
Liabilities
 
Unrealized
Gain (Loss)
on
Investments
 
Accumulated
Other
Comprehensive
Income (Loss)
Balance at December 31, 2021$(2,248)$225 $(147)$(2)$(2,172)
Other comprehensive income (loss) before reclassifications(609)268 117 (12)(236)
Gain (loss) from net investment hedges328 — — — 328 
Amounts reclassified from AOCI— (352)23 — (329)
Tax effect(93)7 (15)1 (100)
Net of tax amount(374)(77)125 (11)(337)
Balance at December 31, 2022(2,622)148 (22)(13)(2,509)
Other comprehensive income (loss) before reclassifications204 337 (46)16 511 
Gain (loss) on net investment hedges(153)— — — (153)
Amounts reclassified from AOCI— (322)(42)— (364)
Tax effect32 (5)2 (1)28 
Net of tax amount83 10 (86)15 22 
Balance at December 31, 2023(2,539)158 (108)2 (2,487)
Other comprehensive income (loss) before reclassifications(607)(118)(27)(16)(768)
Gain (loss) on net investment hedges192 — — 192 
Amounts reclassified from AOCI— 77 42 — 119 
Tax effect(45)9 (7)(1)(44)
Net of tax amount(460)(32)8 (17)(501)
Balance at December 31, 2024$(2,999)$126 $(100)$(15)$(2,988)

Amounts reclassified from AOCI
Year Ended December 31,
Affected line item in the
Consolidated Statements of
Details about AOCI components202420232022
Earnings
Deferred loss (gain) on hedging activities
$— $— $(1)Revenues
77 (322)(351)Cost of products sold
77 (322)(352)Earnings before income taxes
(20)77 62 Income tax expense
$57 $(245)$(290)Net earnings
v3.25.0.1
Segment and Geographic Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment and Geographic Information Segment and Geographic Information
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 within either Corporate or Other Business.

The reportable segments have been identified based on financial data utilized by the Chief Operating Decision Maker (CODM), which is the Company’s Chief Executive Officer, who is also the Company’s Chair of the Board. The CODM uses segment operating profit as the measurement of segment profit or loss. Separate financial information for the Company’s three reportable segments is evaluated by the CODM on a monthly basis to allocate resources and assess performance. The CODM does not use total assets by segment to make decisions regarding resources; therefore, the total asset disclosure by segment has not been included. 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 and certain corporate items are not allocated to the Company’s individual business segments because operating performance of each business segment is evaluated by the CODM exclusive of these items.

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. The Company engages in various structured trade finance activities to leverage its global trade flows. This segment also includes the Company’s share of the results of its equity investments in Wilmar, Pacificor, Stratas Foods LLC, Edible Oils Limited, Olenex, SoyVen, and Gradable.

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 and ethanol for use in gasoline due to its ability to increase octane 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. The Carbohydrate Solutions segment is a leader in carbon capture and sequestration. This segment also includes the Company’s share of the results of its equity investments in Hungrana Ltd., Almidones Mexicanos S.A., Aston Foods and Food Ingredients, Red Star Yeast Company, LLC, and LSCP, LLLP.
The Nutrition segment serves various end markets including food, beverages, and nutritional supplements for humans, and complete feed, feed premix and additives, petfood and pet treats for livestock, aquaculture, and pets. The segment engages in the creation, 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, postbiotics, enzymes, botanical extracts, and other specialty food and feed ingredients and systems. The Nutrition segment also includes activities related to the procurement, processing, and distribution of edible beans, 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. This segment also includes the Company’s share of the results of its equity investments in Vimison S.A. de C.V., ADM Matsutani LLC, Matsutani Singapore Pte. Ltd., ADM Vland Biotech Shandong Co., Ltd., Dusial S.A., and Vitafort ZRT.

Other Business results include the Company’s financial business units related to futures commission and insurance activities. Corporate results principally include unallocated corporate expenses, interest cost net of interest income, and revaluation gains and losses on cost method investments and the share of the results of equity investments in early-stage start-up companies.

Intersegment sales have been recorded using principles consistent with ASC 606, Revenue from Contracts with Customers.

Segment Information for the Years ended December 31, 2024, 2023 and 2022

The following tables present data by segment (in millions).

Year Ended December 31, 2024
Ag Services
and Oilseeds		Carbohydrate
Solutions		NutritionTotal
Revenue from external customers
$66,516 $11,234 $7,349 $85,099 
Other Business
431 
Total revenues
$85,530 
Less:
Cost of materials60,378 7,170 4,651 
Manufacturing costs3,436 2,592 1,249 
Selling, general, and administrative expenses
919 326 1,166 
Other segment items (1)
(664)(230)(103)
Segment operating profit$2,447 $1,376 $386 $4,209 
Reconciliation of segment operating profit
Other Business
247 
Corporate(1,721)
Specified items:
Gains on sales of assets and businesses10 
Asset impairment, restructuring, and net settlement contingencies (2)
(490)
Earnings before income taxes$2,255 
(1) Other segment items for each reportable segment include:
Ag Services and Oilseeds: Equity in the earnings of affiliates; interest and investment income, interest expense; and other income/expense.
Carbohydrate Solutions: Equity in the earnings of affiliates and other income/expense.
Nutrition: Equity in the earnings of affiliates; asset impairment, exit, and restructuring charges; and other income/expense.

(2) These charges primarily include a $461 million impairment charge related to the Company's investment in Wilmar, within the Ag Services and Oilseeds segment, and a $43 million impairment charge related to the discontinued animal nutrition trademarks, within the Nutrition segment, partially offset by reversals of certain contingency liabilities in the Ag Services and Oilseeds segment.
Year Ended December 31, 2023
Ag Services
and Oilseeds		Carbohydrate
Solutions		NutritionTotal
Revenue from external customers
$73,426 $12,874 $7,211 $93,511 
Other Business424 
Total revenues
$93,935 
Less:
Cost of materials65,751 8,729 4,608 
Manufacturing costs3,338 2,550 1,136 
Selling, general, and administrative expenses
880 323 1,034 
Other segment items(1)
(610)(103)6 
Segment operating profit$4,067 $1,375 $427 $5,869 
Reconciliation of segment operating profit
Other Business
375 
Corporate(1,606)
Specified items:
Gains on sales of assets and businesses17 
Asset impairment, restructuring, and net settlement contingencies (2)
(361)
Earnings before income taxes$4,294 

(1) Other segment items for each reportable segment include:
Ag Services and Oilseeds: Equity in the earnings of affiliates; interest and investment income; and other income/expense.

Carbohydrate Solutions: Equity in the earnings of affiliates and other income/expense.

Nutrition: Equity in the earnings of affiliates; interest and investment income; and other income/expense.

(2) These charges were related to the impairment of certain long-lived assets, goodwill, intangibles, and an equity investment, restructuring, and a contingency related to import duties, partially offset by settlement/contingency adjustments.
Year Ended December 31, 2022
Ag Services
and Oilseeds		Carbohydrate
Solutions		NutritionTotal
Revenue from external customers
$79,563 $13,961 $7,636 $101,160 
Other Business396 
Total revenues
$101,556 
Less:
Cost of materials72,464 9,867 4,900 
Manufacturing costs3,135 2,522 1,075 
Selling, general, and administrative expenses
839 338 1,040 
Other segment items(1)
(1,276)(179)(47)
Segment operating profit$4,401 $1,413 $668 $6,482 
Reconciliation of segment operating profit
Other Business
167 
Corporate(1,316)
Specified items:
Gains on sales of assets and businesses47 
Asset impairment, restructuring, and net settlement contingencies(147)
Earnings before income taxes$5,233 
(1) Other segment items for each reportable segment include:
Ag Services and Oilseeds: Equity in the earnings of affiliates; interest and investment income; and other income/expense.

Carbohydrate Solutions: Equity in the earnings of affiliates and other income/expense.

Nutrition: Equity in the earnings of affiliates and other income/expense.
(In millions)Year Ended December 31
 202420232022
Intersegment revenue
Ag Services and Oilseeds$1,716 $2,108 $2,045 
Carbohydrate Solutions889 918 968 
Nutrition68 48 62 
Total intersegment revenue
$2,673 $3,074 $3,075 
Depreciation expense
Ag Services and Oilseeds$376 $350 $334 
Carbohydrate Solutions305 304 307 
Nutrition151 132 120 
Total segment depreciation expense
832 786 761 
Other Business
9 10 9 
Corporate34 29 24 
Total depreciation expense
$875 $825 $794 
Amortization expense
Ag Services and Oilseeds$14 $17 $17 
Carbohydrate Solutions6 8 9 
Nutrition158 136 139 
Total segment amortization expense
178 161 165 
Corporate88 73 69 
Total amortization expense
$266 $234 $234 
Interest and investment income
Ag Services and Oilseeds$84 $54 $52 
Nutrition— (18)2 
Total segment interest and investment income
84 36 54 
Other Business
463 499 185 
Corporate15 (36)54 
Total interest and investment income
$562 $499 $293 
Equity in earnings of unconsolidated affiliates
Ag Services and Oilseeds$474 $459 $714 
Carbohydrate Solutions127 76 94 
Nutrition29 21 23 
Total segment equity in earnings of unconsolidated affiliates
630 556 831 
Corporate(9)(5)1 
Total equity in earnings of affiliates
$621 $551 $832 
Geographic Information for the Company for Years ended December 31, 2024, 2023 and 2022

The following geographic data include revenues from external customers attributed to the countries based on the location of the subsidiary making the sale (in millions). 
Year Ended
December 31
 202420232022
Revenues 
United States$33,550 $38,783 $43,272 
Switzerland19,877 19,898 21,821 
Cayman Islands5,603 7,646 5,883 
Brazil3,353 3,361 4,004 
Mexico3,209 3,185 3,709 
Canada2,055 2,400 2,272 
United Kingdom2,186 2,219 2,231 
Other Foreign15,697 16,443 18,364 
 $85,530 $93,935 $101,556 

Long-lived assets represent the net book value of property, plant, and equipment and right-of-use (ROU) assets based on physical location (in millions).
December 31
20242023
Property, plant, and equipment, net
United States$6,965 $6,660 
Brazil872 874 
Other Foreign3,000 2,974 
Total property, plant, and equipment, net
$10,837 $10,508 
ROU assets
United States$1,063 $913 
Other Foreign295 298 
Total ROU assets
$1,358 $1,211 
Total long-lived assets
$12,195 $11,719 
v3.25.0.1
Asset Impairment, Exit, and Restructuring Costs
 12 Months Ended
Dec. 31, 2024
Restructuring, Settlement and Impairment Provisions [Abstract]  
Asset Impairment, Exit, and Restructuring Costs 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
202420232022
Restructuring and exit costs (1)
$26 $33 $29 
Impairment charge - goodwill and other intangible assets (2)
43 201 2 
Impairment charge - other long-lived assets (3)
476 108 35 
Total asset impairment, exit, and restructuring costs$545 $342 $66 

(1)The year ended December 31, 2024 includes restructuring charges of $23 million, within Corporate, presented as a specified item. The year ended December 31, 2023 includes several individually insignificant restructuring charges totaling $27 million presented as specified items across the Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition segments, and $6 million within Corporate. The year ended December 31, 2022 includes several individually insignificant restructuring charges totaling $28 million presented as specified items and restructuring charges of $1 million within Corporate.
(2)The year ended December 31, 2024 includes impairments of discontinued Animal Nutrition trademarks of $43 million, within the Nutrition segment, presented as specified items. The year ended December 31, 2023 includes impairments related to goodwill of $137 million and customer list and discontinued Animal Nutrition trademarks totaling $64 million, within the Nutrition segment, presented as specified items. The year ended December 31, 2022 includes customer list impairment of $2 million, within the Nutrition segment presented as specified items.

(3)The year ended December 31, 2024 includes $461 million impairment charge related to the Company’s investment in Wilmar, within the Ag Services and Oilseeds segment, presented as a specified item. The year ended December 31, 2023 includes impairments related to certain long-lived assets of $10 million, $33 million, and $65 million, within the Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition segments, respectively, presented as specified items. The year ended December 31, 2022 includes impairments related to certain long-lived assets of $15 million and $20 million, within the Carbohydrate Solutions and Nutrition segments, respectively, presented as specified items.
v3.25.0.1
Sale of Accounts Receivable
 12 Months Ended
Dec. 31, 2024
Transfers and Servicing [Abstract]  
Sale of Accounts Receivable Sale of Accounts Receivable
The Company has an accounts receivable securitization program (the “First Program”) with certain commercial paper conduit purchasers and committed purchasers (collectively, the “First Purchasers”). Under the First Program, certain U.S.-originated trade accounts receivable are sold to a wholly-owned bankruptcy-remote entity, ADM Receivables, LLC (“ADM Receivables”). 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 $1.7 billion for the accounts receivable transferred. The First Program terminates on May 16, 2025, 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"). 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 $1.1 billion (€1.1 billion) for the accounts receivables transferred. The Second Program terminates on April 18, 2025, 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 of accounts receivable. The Company acts as a servicer for the transferred receivables. At December 31, 2024 and 2023, 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, 2024 and 2023, the fair value of trade receivables transferred to the Purchasers under the Programs and derecognized from the Company’s Consolidated Balance Sheets was $2.0 billion and $1.6 billion, respectively. Total receivables sold were $46.9 billion, $54.8 billion, and $59.0 billion for the years ended December 31, 2024, 2023, and 2022, respectively. Cash collections from customers on receivables sold were $47.0 billion, $53.6 billion, and $56.9 billion for the years ended December 31, 2024, 2023, and 2022, respectively. All cash flows under the Programs are classified as operating activities because the cash received from the Purchasers upon both the sale and the collection of the receivables is not subject to significant interest rate risk, given the short-term nature of the Company’s trade receivables. Receivables pledged as collateral to the Purchasers were $0.7 billion and $1.1 billion as of December 31, 2024 and 2023, respectively.
Transfers of receivables under the Programs resulted in an expense for the loss on sale of $95 million, $56 million, and $21 million, for the years ended December 31, 2024, 2023, and 2022, respectively, which is classified as selling, general, and administrative expenses in the Consolidated Statements of Earnings.
v3.25.0.1
Legal Proceedings
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Legal Proceedings 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. Income Taxes 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 its business, and at any given time, the Company has matters at various stages of resolution. The outcomes of these matters are not within the Company’s 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.

The Company’s estimated loss or range of loss with respect to loss contingencies may change from time to time, and it is reasonably possible the Company will incur actual losses in excess of the amounts currently accrued and such additional amounts may be material. While the Company continues to work with parties with respect to potential resolution, no assurance can be given that it will be successful in doing so and the Company cannot predict the outcome of these matters.
Commodities Class Actions

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. On March 16, 2021, AOT filed an amended complaint adding a second named plaintiff Maize Capital Group, LLC (“Maize”). AOT and Maize allege that members of the putative class collectively suffered damages calculated to be between approximately $500 million to over $2.0 billion as a result of the Company’s alleged actions. On July 14, 2020, Green Plains Inc. and its related entities (“GP”) filed a putative class action lawsuit, alleging substantially the same operative facts, in federal court in Nebraska, seeking to represent sellers of ethanol. On July 23, 2020, Midwest Renewable Energy, LLC (“MRE”) 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, United Wisconsin Grain Producers LLC (“UWGP”) and five other ethanol producers filed a lawsuit in federal court in Illinois alleging substantially the same facts and asserting claims under the Sherman Act and Illinois, Iowa, and Wisconsin law. The court granted ADM’s motion to dismiss the MRE and UWGP complaints without prejudice on August 9, 2021 and September 28, 2021, respectively. On August 16, 2021, the court granted ADM’s motion to dismiss the GP complaint, dismissing one claim with prejudice and declining jurisdiction over the remaining state law claim. MRE filed an amended complaint on August 30, 2021, which ADM moved to dismiss on September 27, 2021. The court denied ADM’s motion to dismiss on September 26, 2023. On May 17, 2024, the court stayed MRE’s case pending a decision in UWGP’s appeal, described below. UWGP filed an amended complaint on October 19, 2021, which the court dismissed on July 12, 2022. UWGP has appealed the dismissal to the United States Court of Appeals for the Seventh Circuit. On October 26, 2021, GP filed a new complaint in Nebraska federal district court, alleging substantially the same facts and asserting a claim for tortious interference with contractual relations. On March 18, 2022, the Nebraska federal district court granted ADM’s motion to transfer the GP case back to the Central District of Illinois for further proceedings. ADM moved to dismiss the complaint on May 20, 2022 and on December 30, 2022, the court dismissed GP’s complaint with prejudice. GP appealed the dismissal. On January 12, 2024, the appellate court vacated the dismissal and remanded the case to the district court for further proceedings. On March 8, 2024, GP filed an amended complaint, which ADM moved to dismiss. On December 3, 2024, the court issued a decision on ADM’s motion to dismiss GP’s amended complaint, denying one ground for dismissal and certifying a question of law to the Nebraska Supreme Court before deciding the other ground.

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.

Government Investigations

As previously disclosed, the Company is under investigation by the United States Securities and Exchange Commission (“SEC”) and the Department of Justice (“DOJ”) relating to, among other things, intersegment sales between the Company’s Nutrition reporting segment and the Company’s Ag Services and Oilseeds and Carbohydrate Solutions reporting segments. The Company is continuing to cooperate with the SEC and DOJ investigations and is unable to predict the outcome of these investigations.

Shareholder Litigation

As previously disclosed, on January 24, 2024, following the Company’s announcement of an investigation relating to intersegment sales, a purported stockholder of the Company filed a putative securities fraud class action in the U.S. District Court for the Northern District of Illinois against the Company and certain of its current and former officers. Defendants filed motions to dismiss, which remain pending and are set for argument on March 6, 2025. The Company intends to continue to vigorously defend against these claims. However, given the uncertainty of litigation, the Company is unable to predict the final outcome of this proceeding with any reasonable degree of certainty, nor does it currently have sufficient information to estimate a reasonably possible loss or range of loss with respect to this matter.
Also as previously disclosed, beginning on March 29, 2024, purported stockholders of the Company filed a number of related derivative lawsuits against certain current and former officers and directors of the Company, seeking unspecified damages. The derivative litigation is now consolidated in the U.S. District Court for the District of Delaware. Defendants filed a motion to dismiss the consolidated complaint, which remains pending. The Company is unable to predict the final outcome of this proceeding with any reasonable degree of certainty.
v3.25.0.1
Subsequent Event
 12 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
Subsequent Event Subsequent Event
On January 31, 2025, the Company completed the acquisition of Vandamme Hugaria Kft, a 700 metric ton/day non-genetically modified crush and extraction facility based in Hungary, for an aggregate consideration of $123 million, subject to working capital adjustments.
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Net Income (Loss) $ 1,800 $ 3,483 $ 4,340
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
The Company faces significant and persistent cybersecurity risks due to: the breadth of geographies, networks, and systems ADM must defend against cybersecurity attacks such as exploitation of vulnerabilities, ransomware, denial of service, supply chain attacks, or other similar threats; the attractiveness of the Company’s systems and processes to threat actors (including state-sponsored organizations) seeking to inflict harm on ADM or its customers; the substantial level of harm that could occur to the Company and its customers in case of a material cybersecurity incident; and ADM’s use of third-party products, services and components. During the year ended December 31, 2024, the Company has not identified risks from cybersecurity threats, including as a result of prior cybersecurity incidents, that have materially affected or are reasonably anticipated to materially affect the Company, including its business strategy, results of operations, or financial condition. Nevertheless, the Company recognizes cybersecurity threats are ongoing and evolving. For more information on the Company's cybersecurity risks, refer to Item 1A. Risk Factors. ADM is committed to supporting the governance and oversight of cybersecurity risks and to implementing mechanisms, controls, technologies, and processes designed to help the Company assess, identify, and manage these risks.

Cybersecurity risks are included in the risk universe that the Company’s Enterprise Risk Management (ERM) function evaluates, with input from information security subject matter experts at the Company, to assess top risks to the enterprise. The ERM process provides input into our strategic planning process, such as development of action plans to address and mitigate identified risks. Integrating cybersecurity risk into the overall ERM process in this manner assists the Company in identifying, assessing, and managing material cybersecurity risks.
The Company has a dedicated cybersecurity team that collaborates with compliance, privacy, legal, and other teams across the global organization to assess the risk landscape. ADM’s cybersecurity program is designed to be aligned with applicable industry standards and is assessed regularly by independent third-party auditors. The multifaceted nature of the Company’s cybersecurity measures includes aspects of prevention, detection, and response capabilities, employee training programs, threat intelligence monitoring, and the implementation of an array of technologies. The Company has established processes to oversee and identify cybersecurity risks associated with the use of third-party service providers, which include the completion of due diligence before engaging with any third party, controls for response to mitigate any significant risks, and assessments and reviews during the course of the relationship. Additionally, the Company has ongoing partnerships with government and commercial cybersecurity experts to understand emerging cybersecurity threats.
The Company has seen an increase in cyberattack volume, frequency, and sophistication. ADM seeks to detect and investigate unauthorized attempts and attacks against its network, products, and services, and to prevent their occurrence and recurrence where practicable through changes or updates to the Company’s internal processes and tools; however, ADM remains potentially vulnerable to known or unknown threats. The Company’s cyber incident response plan includes an escalation process if a cybersecurity incident meets specific rating criteria to trigger swift and effective action designed to minimize potential disruptions and protect the integrity of our operations. The Company also conducts periodic cybersecurity scenarios with senior management to enhance preparedness.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block]
Cybersecurity risks are included in the risk universe that the Company’s Enterprise Risk Management (ERM) function evaluates, with input from information security subject matter experts at the Company, to assess top risks to the enterprise. The ERM process provides input into our strategic planning process, such as development of action plans to address and mitigate identified risks. Integrating cybersecurity risk into the overall ERM process in this manner assists the Company in identifying, assessing, and managing material cybersecurity risks.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
The Board of Directors has oversight of cybersecurity risk as part of the ERM program. The Board of Directors is assisted by the Sustainability and Technology Committee, which regularly reviews the cybersecurity program with management and reports to the Board of Directors and the Audit Committee, which assists the Board in its oversight of the Company's ERM program. Cybersecurity reviews by the Sustainability and Technology Committee or the Board of Directors generally occur quarterly, or more frequently as determined to be necessary or advisable. In recent years, the Board added a director who had served as Chief Information Officer for a large public company with sensitive information to assist the Board and Sustainability and Technology Committee in overseeing cybersecurity risks.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] The Board of Directors is assisted by the Sustainability and Technology Committee, which regularly reviews the cybersecurity program with management and reports to the Board of Directors and the Audit Committee, which assists the Board in its oversight of the Company's ERM program.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] The Board of Directors is assisted by the Sustainability and Technology Committee, which regularly reviews the cybersecurity program with management and reports to the Board of Directors and the Audit Committee, which assists the Board in its oversight of the Company's ERM program. Cybersecurity reviews by the Sustainability and Technology Committee or the Board of Directors generally occur quarterly, or more frequently as determined to be necessary or advisable.
Cybersecurity Risk Role of Management [Text Block] The Company’s cybersecurity program is led by the Chief Information Security Officer (CISO), who reports to the Senior Vice President and Chief Technology Officer (CTO). The CISO is informed about and monitors prevention, detection, mitigation, and remediation efforts through regular communication and reporting from professionals in the information security team, many of whom hold cybersecurity certifications in Information Systems Security or Information Security Management, and through the use of technological tools and software and results from third party audits. Additionally, the CISO directs the Global Information and Cyber Security Council (the “Council”), which includes a diverse range of relevant experts. The Council includes management from global technology, compliance, privacy, controlling, operations, security, automation, ERM, and internal audit. The Council promotes alignment and communication of new and ongoing cybersecurity prevention techniques and provides a forum for staying current on the latest cybersecurity threats.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] The Company’s cybersecurity program is led by the Chief Information Security Officer (CISO), who reports to the Senior Vice President and Chief Technology Officer (CTO).
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] The CISO and CTO have extensive experience assessing and managing cybersecurity programs and cybersecurity risk. The CISO has served in that position since 2018 and, was previously the Vice President, Head of Enterprise Security, Americas at Worldpay and a Security Principal/Strategist for Hewlett Packard Enterprises for a combined cybersecurity experience of 20 years. The CTO joined ADM in 2016 and was previously Senior Vice President and Chief Information Officer at Dow Corning Corporation for approximately 6 years.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] Cybersecurity reviews by the Sustainability and Technology Committee or the Board of Directors generally occur quarterly, or more frequently as determined to be necessary or advisable. In recent years, the Board added a director who had served as Chief Information Officer for a large public company with sensitive information to assist the Board and Sustainability and Technology Committee in overseeing cybersecurity risks.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Principles of Consolidation
Principles of Consolidation
The Consolidated Financial Statements include the accounts of the Company and its subsidiaries. All 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.
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 restricted cash equivalents on the statement of cash flows.
Short-Term Marketable Securities
Short-Term Marketable Securities

Short-term marketable securities include foreign government securities with maturities greater than three months and less than one year and are recorded at fair value with gains and losses on these investments included in Other income in the Consolidated Statements of Earnings.
Revenue Recognition
Revenue Recognition

The Company principally generates revenue from merchandising and transporting agricultural commodities, and manufacturing products for use in food, beverages, feed, energy, and industrial applications, and ingredients and solutions for human and animal nutrition.

The Company’s revenue that is generated from physically settled derivative sales contracts is accounted for under ASC 815, Derivatives and Hedging (Topic 815), and revenue from sales of other products and services is accounted for under ASC 606, Revenue from Contracts with Customers (Topic 606).

Revenue from physically settled derivative sales contracts primarily relates to forward sales of commodities where such contracts meet the definition of a derivatives under ASC 815. Revenue from such commodities contracts is recognized at a point in time, upon transferring control of the commodity to the customer, similar to revenue recognized from contracts with customers under Topic 606. Prior to settlement, these contracts are recognized at fair value within current assets and liabilities, with the unrealized gains or losses primarily recorded within Cost of products sold. See Note 4. Fair Value Measurements and Note 5. Derivative Instruments & Hedging Activities for further information.

Revenue from sales of other products and services is measured based on the consideration specified in the contract with a customer, in accordance with Topic 606. 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. Revenue for deferred price contracts that allow for pricing to be determined after title of the goods has passed to the customer is recognized when the price is determined. For transportation service contracts, the Company recognizes revenue over time as the mode of transportation 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. 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 Topic 606, and does not disclose information about remaining performance obligations that have original expected durations of one year or less.

See Note 2. Revenues for further information.

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.
Receivables
Receivables
The Company records accounts receivable at net realizable value. This value includes an allowance for estimated uncollectible accounts to reflect any loss anticipated on the accounts receivable balances including any accrued interest receivables thereon. The Company estimates uncollectible accounts by pooling receivables 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. Long-term receivables recorded in other assets were not material to the Company’s overall receivables portfolio.
Inventories
Inventories

Certain merchandisable agricultural commodity inventories, 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.
Fair Value Measurements
Fair Value Measurements

The Company measures the fair value of certain assets and liabilities in accordance with ASC Topic 820, Fair Value Measurements and Disclosures, which defines fair value as the price that would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants on 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. The fair value hierarchy gives the highest priority to Level 1 inputs.

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. The fair value hierarchy gives the lowest priority to Level 3 inputs.

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. 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. 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 non-performance 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 non-performance risk to be a significant input, the Company records estimated fair value adjustments, and classifies the measurement in Level 3.
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 its financial and non-financial derivative instruments, excluding exchange traded instruments, as either assets or liabilities at fair value in its Consolidated Balance Sheets. Unrealized gains are reported as other current assets and unrealized losses are reported as accrued expenses and other payables. Exchange traded instruments are cash-settled daily with the settlement reflected within Other current assets.

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, within revenue or cost of products sold, as appropriate. 
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 cash flow hedge, fair value 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 Statements 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. 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 Statements of Earnings in the same financial statement caption as the hedged items.
Equity Method Investments
Equity Method Investments

The Company uses the equity method of accounting for equity investments if the investment provides the ability to exercise significant influence, but not control, over operating and financial policies of the investee. The Company’s proportionate share of the net income or loss of these investees is included in consolidated net earnings. Judgment regarding the level of influence over each equity method investment includes considering key factors such as the Company’s ownership interest, the legal form of the investee, any representation on the board of directors, and any participation in policy-making decisions.

The Company evaluates equity method investments for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment might not be recoverable. Factors considered by the Company when reviewing an equity method investment for impairment include the length of time (duration) and the extent (severity) to which the fair value of the equity method investment has been less than cost, the investee’s financial condition and near-term prospects, and the intent and ability to hold the investment for a period of time sufficient to allow for anticipated recovery. An impairment that is other-than- temporary is recognized in the period identified.
Cost Method Investments
Cost Method Investments

Cost method investments of $439 million and $438 million as of December 31, 2024 and 2023, respectively, are included in other assets in the Company’s Consolidated Balance Sheets.

Revaluation losses of $16 million for the year ended December 31, 2024 were related to an investment in alternative protein and precision fermentation. Revaluation losses of $76 million for the year ended December 31, 2023 were related to investments in the alternative protein category and precision fermentation. Revaluation gains of $37 million for the year ended December 31, 2022 were in connection with observable third-party transactions (a Level 2 measurement under applicable accounting standards).
Revaluation gains and losses are recorded in Interest and investment income in the Company’s Consolidated Statements of Earnings.
Property, Plant, and Equipment
Property, Plant, and Equipment

Property, plant, and equipment are recorded at cost. Repair and maintenance costs are expensed as incurred. The Company 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; and machinery and equipment - 3 to 40 years. The Company capitalized interest on major construction projects in progress of $32 million, $32 million, and $20 million for the years ended December 31, 2024, 2023, and 2022, respectively.
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 a 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).
Leases
Leases

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 6 months to 95 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, 2024.

As an accounting policy election, the Company does not apply the recognition requirements of ASC 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.
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. Income tax effects from AOCI are released when the individual units of account are sold, terminated, or extinguished.
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 such as third-party configuration costs and internal labor, are amortized over their estimated useful lives of 1 to 50 years and are reviewed for impairment whenever there are indicators 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 the carrying value of the assets may not be fully recoverable.
Payables to Brokerage Customers
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.
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 and restricted stock units (Restricted Stock Awards), performance stock units (PSUs), and stock options. The fair values of stock options are estimated at the date of grant using the Black-Scholes option valuation model, which requires the input of subjective assumptions. The fair values of Restricted Stock Awards and PSUs are determined based on the market value of the Company's shares on the grant date. Measured compensation cost, net of forfeitures, is recognized ratably over the vesting period of the related stock compensation award.

Compensation expense for stock 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.
Research and Development
Research and Development
Costs associated with research and development are expensed as incurred and recorded within selling, general, and administrative expenses.
Earnings Per Share
Earnings Per Share

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 common share, average number of common shares outstanding is increased by dilutive potential common shares, including unvested restricted stock units, PSUs and common shares underlying stock options outstanding with exercise prices lower than the average market price of common shares using the treasury stock 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.
Redeemable Noncontrolling Interest
Redeemable Non-controlling Interests

The Company presents any redeemable non-controlling interests in temporary equity within the Consolidated Balance Sheets at redemption value with period changes recorded in reinvested earnings. The Company reports the portion of its earnings or loss for redeemable non-controlling interests as net earnings (losses) attributable to non-controlling interests in the Consolidated Statements of Earnings.
Adoption of New Accounting Pronouncements and New Accounting Pronouncements Not Yet Adopted
Adoption of New Accounting Pronouncements

Effective January 1, 2024, the Company adopted the amended guidance of Accounting Standards Codification (ASC) 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 guidance applies 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 guidance do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2024, except for hedging relationships existing as of December 31, 2024, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. ADM has completed the transition of its financing, funding, and hedging portfolios from LIBOR to alternative reference rates. The transition did not have an impact on the Company’s Consolidated Financial Statements.

Effective December 31, 2024, the Company adopted Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves disclosures about a public entity’s reportable segments and addresses requests from investors and other allocators of capital for more detailed information about a reportable segment’s expenses. The amended guidance improves reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses and permits entities to disclose more than one measure of a reportable segment’s profitability used by the Chief Operating Decision Maker. The adoption of the amended guidance resulted in expanded disclosures in Note 17. Segment and Geographic Information in this report but did not have an impact on the Company's Consolidated Financial Statements.

New Accounting Pronouncements Not Yet Adopted

Effective December 31, 2025, the Company will be required to adopt ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which enhances the transparency and decision usefulness of income tax disclosures. The amendments address investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The adoption of the amended guidance will result in expanded disclosures in the Company’s income taxes footnote but is not expected to have an impact on the Company's Consolidated Financial Statements.
Effective December 31, 2027, the Company will be required to adopt ASU 2024-03, Income Statement—Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of income statement expenses, which will require tabular disclosure of certain operating expenses disaggregated into categories, such as purchases of inventory, employee compensation, depreciation, and intangible asset amortization. The adoption of the amended guidance will result in expanded disclosures in the Company’s footnotes but is not expected to have an impact on the Company's Consolidated Financial Statements.
v3.25.0.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Schedule of Changes in Allowance for Estimated Uncollectible Accounts
Changes to the allowance for estimated uncollectible accounts for the years ended December 31, 2024 and 2023 are as follows (in millions):
Year Ended December 31
20242023
Opening balance, January 1
$215 $199 
Provisions (reversals), net
(16)6 
Recoveries9 2 
Write-offs against allowance(32)(28)
Other(9)36 
Closing balance, December 31
$167 $215 
Schedule of Inventories
The following table sets forth the Company’s inventories as of December 31, 2024 and 2023 (in millions).

December 31, 2024December 31, 2023
Raw materials and supplies (1)
$1,922 $1,944 
Finished goods2,689 3,026 
Market inventories
6,961 6,987 
Total inventories$11,572 $11,957 

(1) Includes work in process inventories which were not material as of December 31, 2024 and 2023.
Schedule of Changes in Outstanding Payment Obligations
Changes to the outstanding payment obligations for the years ended December 31, 2024 and 2023 were as follows (in millions):

Year Ended December 31,
20242023
Opening balance, January 1
$274 $196 
Obligations confirmed948 1,100 
Obligations paid(1,000)(1,022)
Closing balance, December 31
$222 $274 
Schedule of Changes in Redeemable Non-controlling Interest
Changes to the Company's redeemable non-controlling interests for the years ended December 31, 2024, 2023, and 2022 are as follows (in millions):
Year Ended December 31,
202420232022
Opening balance, January 1
$320 $299 $259 
Net income (loss) attributable to redeemable non-controlling interests
(21)(6)21 
Acquisition of redeemable non-controlling interests(18)— — 
Currency translation adjustments and other
(28)27 19 
Closing balance, December 31 (1)
$253 $320 $299 

(1) As of December 31, 2024, redeemable non-controlling interests includes $136 million related to the 25% non-controlling interest for PetDine, LLC. The Company has the option to acquire this remaining 25% interest in PetDine, LLC by March 31, 2025. The non-controlling interest holders also have the option to put the 25% interest to the Company by the same date.
v3.25.0.1
Revenues (Tables)
 12 Months Ended
Dec. 31, 2024
Revenues [Abstract]  
Schedule of disaggregation of revenues
The following tables present revenue disaggregated by timing of recognition and major product lines for the years ended December 31, 2024, 2023, and 2022 (in millions).

Year Ended December 31, 2024
Topic 606 Revenue
Topic 815(1)
Total
Point in TimeOver TimeTotalRevenueRevenues
Ag Services and Oilseeds
Ag Services3,779 $923 $4,702 $39,381 $44,083 
Crushing462 — 462 11,374 11,836 
Refined Products and Other2,447 — 2,447 8,150 10,597 
Total Ag Services and Oilseeds6,688 923 7,611 58,905 66,516 
Carbohydrate Solutions
Starches and Sweeteners6,335 — 6,335 2,252 8,587 
Vantage Corn Processors 2,647 — 2,647 — 2,647 
Total Carbohydrate Solutions8,982 — 8,982 2,252 11,234 
Nutrition
Human Nutrition3,944 — 3,944 — 3,944 
Animal Nutrition3,405 — 3,405 — 3,405 
Total Nutrition7,349 — 7,349 — 7,349 
Total Segment Revenues23,019 923 23,942 61,157 85,099 
Other Business431 — 431 — 431 
Total Revenues$23,450 $923 $24,373 $61,157 $85,530 
Year Ended December 31, 2023
Topic 606 Revenue
Topic 815(1)
Total
Point in TimeOver TimeTotalRevenueRevenues
Ag Services and Oilseeds
Ag Services$4,110 $761 $4,871 $42,549 $47,420 
Crushing470 — 470 13,550 14,020 
Refined Products and Other2,295 — 2,295 9,691 11,986 
Total Ag Services and Oilseeds6,875 761 7,636 65,790 73,426 
Carbohydrate Solutions
Starches and Sweeteners7,431 — 7,431 2,454 9,885 
Vantage Corn Processors2,989 — 2,989 — 2,989 
Total Carbohydrate Solutions10,420 — 10,420 2,454 12,874 
Nutrition
Human Nutrition3,634 — 3,634 — 3,634 
Animal Nutrition3,577 — 3,577 — 3,577 
Total Nutrition7,211 — 7,211 — 7,211 
Total Segment Revenues24,506 761 25,267 68,244 93,511 
Other Business424 — 424 — 424 
Total Revenues$24,930 $761 $25,691 $68,244 $93,935 

Year Ended December 31, 2022
Topic 606 Revenue
Topic 815(1)
Total
Point in TimeOver TimeTotalRevenueRevenues
Ag Services and Oilseeds
Ag Services$4,053 $818 $4,871 $48,310 $53,181 
Crushing573 — 573 12,566 13,139 
Refined Products and Other2,724 — 2,724 10,519 13,243 
Total Ag Services and Oilseeds7,350 818 8,168 71,395 79,563 
Carbohydrate Solutions
Starches and Sweeteners7,696 — 7,696 2,555 10,251 
Vantage Corn Processors3,710 — 3,710 — 3,710 
Total Carbohydrate Solutions11,406 — 11,406 2,555 13,961 
Nutrition
Human Nutrition3,769 — 3,769 — 3,769 
Animal Nutrition3,867 — 3,867 — 3,867 
Total Nutrition7,636 — 7,636 — 7,636 
Total Segment Revenues26,392 818 27,210 73,950 101,160 
Other Business396 — 396 — 396 
Total Revenues$26,788 $818 $27,606 $73,950 $101,556 

(1) Topic 815 revenue relates to the physical delivery or the settlement of the Company’s sales contracts accounted for as derivatives and are outside the scope of Topic 606.
v3.25.0.1
Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Aggregate Cash Consideration of Acquisitions
The aggregate cash consideration of these acquisitions, net of $21 million in cash acquired, was allocated as follows, subject to final measurement period adjustments (in millions).

RevelaFDLPTTNSTotal
Working capital, net of cash acquired$49 $10 $6 $2 $67 
Property, plant, and equipment38 33 6 2 79 
Goodwill409 136 3 9 557 
Other intangible assets166 93 — 10 269 
Other long-term assets28 10 — — 38 
Long-term liabilities(42)(41)— — (83)
Aggregate cash consideration, net of cash acquired$648 $241 $15 $23 $927 
Fair Values and Useful Lives of Other Intangible Assets Acquired
The following table sets forth the fair values and the useful lives of the other intangible assets acquired as of December 31, 2024.
Useful Lives
Revela
FDL
TNS
Total
(In years)(In millions)
Intangible assets with finite lives:
Customer lists10to18$124 $73 $8 $205 
Recipes and others10
to
2142 20 2 64 
Total other intangible assets acquired$166 $93 $10 $269 
v3.25.0.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Accounted for at Fair Value on a Recurring Basis
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, 2024 and 2023 (in millions).

 Fair Value Measurements at December 31, 2024
Level 1
Level 2
Level 3
Total
Assets:    
Inventories carried at market$— $3,930 $3,031 $6,961 
Unrealized derivative gains:    
Commodity contracts— 404 427 831 
Foreign exchange contracts
— 272 — 272 
Interest rate contracts— 5 — 5 
Cash equivalents70 — — 70 
Marketable securities246 — — 246 
Segregated investments1,681 — — 1,681 
Total Assets$1,997 $4,611 $3,458 $10,066 
Liabilities:    
Unrealized derivative losses:    
Commodity contracts$— $355 $405 $760 
Foreign exchange contracts
— 212 — 212 
Inventory-related payables— 654 88 742 
Total Liabilities$— $1,221 $493 $1,714 

 Fair Value Measurements at December 31, 2023
Level 1
Level 2
Level 3
Total
Assets:    
Inventories carried at market$— $4,274 $2,713 $6,987 
Unrealized derivative gains:    
Commodity contracts— 628 731 1,359 
Foreign currency contracts— 187 — 187 
Cash equivalents209 — — 209 
Segregated investments1,362 — — 1,362 
Total Assets$1,571 $5,089 $3,444 $10,104 
Liabilities:    
Unrealized derivative losses:    
Commodity contracts$— $500 $457 $957 
Foreign currency contracts— 144 — 144 
Inventory-related payables— 1,219 101 1,320 
Total Liabilities$— $1,863 $558 $2,421 
Schedule of Roll Forward of Assets Measured at Fair Value on a Recurring Basis Using Unobservable Inputs
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, 2024 and 2023 (in millions).

 Level 3 Fair Value Assets Measurements at
December 31, 2024
Inventories
Carried at
Market		Commodity
Derivative
Contracts
Gains		Total
Opening balance, January 1, 2024$2,713 $731 $3,444 
Total increase (decrease) in net realized/unrealized gains included in cost of products sold646 1,010 1,656 
Purchases16,296 — 16,296 
Sales(16,609)— (16,609)
Settlements— (1,369)(1,369)
Transfers into Level 31,416 241 1,657 
Transfers out of Level 3(1,431)(186)(1,617)
Closing balance, December 31, 2024 (1)
$3,031 $427 $3,458 

(1) Includes increase in unrealized gains of $1.7 billion relating to Level 3 assets still held at December 31, 2024.
 Level 3 Fair Value Assets Measurements at
December 31, 2023
Inventories
Carried at
Market		Commodity
Derivative
Contracts
Gains		Total
Opening balance, January 1, 2023$2,760 $541 $3,301 
Total increase (decrease) in net realized/unrealized gains included in cost of products sold432 1,460 1,892 
Purchases29,929 — 29,929 
Sales(30,038)— (30,038)
Settlements(4)(1,559)(1,563)
Transfers into Level 31,584 371 1,955 
Transfers out of Level 3(1,950)(82)(2,032)
Closing balance, December 31, 2023 (1)
$2,713 $731 $3,444 

(1) Includes increase in unrealized gains of $2.1 billion relating to Level 3 assets still held at December 31, 2023.
Schedule of Roll Forward of Liabilities Measured at Fair Value on a Recurring Basis Using Unobservable Inputs
 Level 3 Fair Value Liabilities Measurements at
December 31, 2024
Inventory-
related
Payables		Commodity
Derivative
Contracts
Losses		Total
Opening balance, January 1, 2024$101 $457 $558 
Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense(12)1,124 1,112 
Purchases79 — 79 
Sales(81)— (81)
Settlements— (1,142)(1,142)
Transfers into Level 31 68 69 
Transfers out of Level 3— (102)(102)
Closing balance, December 31, 2024 (1)
$88 $405 $493 
 
(1) Includes increase in unrealized losses of $1.1 billion relating to Level 3 liabilities still held at December 31, 2024.
 Level 3 Fair Value Liabilities Measurements at
December 31, 2023
Inventory-
related
Payables		Commodity
Derivative
Contracts
Losses		Debt Conversion OptionTotal
Opening balance, January 1, 2023$89 $603 $6 $698 
Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense5 1,303 (6)1,302 
Purchases49 — — 49 
Settlements(35)(1,583)— (1,618)
Transfers into Level 31 157 — 158 
Transfers out of Level 3(8)(23)— (31)
Closing balance, December 31, 2023 (1)
$101 $457 $— $558 

(1) Includes increase in unrealized losses of $1.3 billion relating to Level 3 liabilities still held at December 31, 2023.
Schedule of 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, 2024 and 2023. 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, 2024 was a weighted average 24.9% of the total price for assets and 31.3% of the total price for liabilities.

Weighted Average % of Total Price
 December 31, 2024December 31, 2023
Component TypeAssetsLiabilitiesAssetsLiabilities
Inventories and Related Payables    
Basis24.9%31.3%25.0%33.2%
Transportation cost10.8%—%11.5%—%
Commodity Derivative Contracts    
Basis21.8%23.4%24.2%24.9%
Transportation cost10.8%10.8%9.3%3.2%
v3.25.0.1
Derivative Instruments & Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivatives Instruments
The following table sets forth the fair value of derivatives not designated as hedging instruments as of December 31, 2024 and 2023 (in millions).
 December 31, 2024December 31, 2023
 AssetsLiabilitiesAssetsLiabilities
Foreign Currency Contracts$272 $102 $187 $122 
Commodity Contracts828 760 1,343 957 
Total$1,100 $862 $1,530 $1,079 
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, 2024, 2023, and 2022 (in millions).
Cost of Other expense (income) - net
productsInterest
RevenuessoldExpense
Total
For the Year Ended December 31, 2024
Pre-tax gains (losses) on:
Foreign Currency Contracts$29 $(388)$— $142 
Commodity Contracts— 391 — — 
Total gain (loss) recognized in earnings$29 $3 $— $142 $174 
For the Year Ended December 31, 2023
Pre-tax gains (losses) on:
Foreign Currency Contracts$(33)$322 $— $43 
Commodity Contracts— 619 — — 
Debt Conversion Option— — 6 — 
Total gain (loss) recognized in earnings$(33)$941 $6 $43 $957 
For the Year Ended December 31, 2022
Pre-tax gains (losses) on:
Foreign Currency Contracts$(42)$367 $— $194 
Commodity Contracts— (120)— — 
Debt Conversion Option— — 9 — 
Total gain (loss) recognized in earnings$(42)$247 $9 $194 $408 
The following table sets forth the fair value of derivatives designated as hedging instruments as of December 31, 2024 and 2023 (in millions).
 December 31, 2024December 31, 2023
 AssetsLiabilitiesAssetsLiabilities
Commodity Contracts$3 $— $16 $— 
Interest Rate Contracts5 — — — 
Foreign Currency Contracts— 110 — 22 
Total$8 $110 $16 $22 

The following table sets forth the pre-tax gains (losses) on derivatives designated as cash flow hedging instruments that have been included in the Consolidated Statements of Earnings for the years ended December 31, 2024, 2023, and 2022 (in millions).
Cost of products sold
For the Year Ended December 31, 2024
Pre-tax gains (losses) on:
Commodity Contracts$(77)
For the Year Ended December 31, 2023
Pre-tax gains (losses) on:
Commodity Contracts$322 
For the Year Ended December 31, 2022
Pre-tax gains (losses) on:
Commodity Contracts$351 
v3.25.0.1
Other Current Assets (Tables)
 12 Months Ended
Dec. 31, 2024
Other Assets [Abstract]  
Schedule of Other Current Assets
The following table sets forth the items in other current assets (in millions):

December 31, 2024December 31, 2023
Unrealized gains on derivative contracts$1,108 $1,546 
Margin deposits and grain accounts516 560 
Customer omnibus receivable872 1,052 
Financing receivables - net (1)
258 237 
Insurance premiums receivable76 61 
Prepaid expenses279 445 
Biodiesel tax credit104 119 
Tax receivables539 491 
Non-trade receivables393 304 
Other current assets224 167 
 $4,369 $4,982 

(1) Interest earned on financing receivables of $18 million, $21 million, and $15 million for the years ended December 31, 2024, 2023, and 2022, respectively, is included in Interest and investment income in the Consolidated Statements of Earnings.
v3.25.0.1
Accrued Expenses And Other Payables (Tables)
 12 Months Ended
Dec. 31, 2024
Payables and Accruals [Abstract]  
Accrued Expenses And Other Payables
The following table sets forth the items in accrued expenses and other payables (in millions).
 
December 31, 2024December 31, 2023
Unrealized losses on derivative contracts$972 $1,101 
Accrued compensation346 439 
Income tax payable167 284 
Other taxes payable138 172 
Accrued interest payable
153 142 
Insurance liabilities
172 117 
Contract liabilities (1)
534 626 
Other deferred income
156 150 
Other accruals and payables1,092 1,045 
 $3,730 $4,076 

(1) Contract liabilities relate to advance payments from customers for goods and services the Company has yet to provide. Revenues recognized in the year ended December 31, 2024 from contract liabilities as of December 31, 2023 were $529 million.
v3.25.0.1
Investments in and Advances to Affiliates (Tables)
 12 Months Ended
Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Combined Balance Sheets and Statements of Earnings of the Company's Unconsolidated Affiliates The following tables summarize the aggregated balance sheets as of December 31, 2024 and 2023, and the aggregated statements of earnings of the Company’s unconsolidated affiliates for the years ended December 31, 2024, 2023, and 2022 (in millions).
December 31,
20242023
Current assets$33,065 $41,032 
Non-current assets28,962 29,773 
Current liabilities(27,357)(33,812)
Non-current liabilities(8,772)(8,973)
Non-controlling interests(2,499)(2,489)
Net assets$23,399 $25,531 
Year Ended December 31
202420232022
Revenues$77,251 $85,754 $109,448 
Gross profit3,673 4,261 8,946 
Net earnings2,036 2,452 3,140 
v3.25.0.1
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Carrying Amount of Goodwill
Changes in the carrying amount of goodwill by reportable segment and Other Business for the years ended December 31, 2024 and 2023 are as follows (in millions):
 
Ag Services & Oilseeds
Carbohydrate Solutions
Nutrition
Other Business
Total
Balance at December 31, 2022
$193 $224 $3,731 $14 $4,162 
Acquisitions
20 — — — 20 
Impairments
— — (137)— (137)
Currency translation adjustments and other
22 — 46 (10)58 
Balance at December 31, 2023
$235 $224 $3,640 $4 $4,103 
Acquisitions— — 557 — 557 
Currency translation adjustments and other(17)(8)(127)1 (151)
Balance at December 31, 2024
$218 $216 $4,070 $5 $4,509 
Schedule of Other Intangible Assets
The following table sets forth the detail on other intangible assets.
December 31, 2024December 31, 2023
UsefulGrossAccumulatedGrossAccumulated
LifeAmountAmortizationNetAmountAmortizationNet
(In years)(In millions)
Intangible assets with indefinite lives:
Trademarks/brands$290 $— $290 $375 $— $375 
Other— — — 58 — 58 
Intangible assets with definite lives:
Trademarks/brands5to2086 (42)44 53 (35)18 
Customer lists1to301,687 (708)979 1,544 (627)917 
Capitalized software and related costs5to8964 (612)352 950 (523)427 
Land rights20to6589 (27)62 107 (30)77 
Other intellectual property5to20187 (142)45 211 (135)76 
Recipes and other1to35620 (339)281 511 (304)207 
Intangible assets in process207 — 207 83 — 83 
Total$4,130 $(1,870)$2,260 $3,892 $(1,654)$2,238 
Schedule of Other Intangible Assets
The following table sets forth the detail on other intangible assets.
December 31, 2024December 31, 2023
UsefulGrossAccumulatedGrossAccumulated
LifeAmountAmortizationNetAmountAmortizationNet
(In years)(In millions)
Intangible assets with indefinite lives:
Trademarks/brands$290 $— $290 $375 $— $375 
Other— — — 58 — 58 
Intangible assets with definite lives:
Trademarks/brands5to2086 (42)44 53 (35)18 
Customer lists1to301,687 (708)979 1,544 (627)917 
Capitalized software and related costs5to8964 (612)352 950 (523)427 
Land rights20to6589 (27)62 107 (30)77 
Other intellectual property5to20187 (142)45 211 (135)76 
Recipes and other1to35620 (339)281 511 (304)207 
Intangible assets in process207 — 207 83 — 83 
Total$4,130 $(1,870)$2,260 $3,892 $(1,654)$2,238 
v3.25.0.1
Debt Financing Arrangements (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt
The Company’s long-term debt consisted of the following (in millions, except as noted):
Debt Instrument
Interest RateFace AmountDue DateDecember 31, 2024December 31, 2023
1.000% Notes€650 million2025$672 $717 
2.500% Notes$1 billion2026999 998 
7.500% Debentures$147 million 2027147 147 
6.750% Debentures$103 million 2027103 103 
6.625% Debentures$144 million 2029144 144 
3.250% Notes$1 billion2030993 991 
7.000% Debentures$160 million 2031161 159 
2.900% Notes$750 million2032745 744 
5.935% Debentures$336 million 2032337 334 
4.500% Notes
$500 million2033493 492 
5.375% Debentures$432 million 2035426 426 
6.450% Debentures$103 million 2038103 102 
5.765% Debentures$297 million 2041297 297 
4.535% Debentures$383 million 2042291 288 
4.016% Debentures$371 million 2043266 263 
3.750% Notes$408 million 2047403 403 
4.500% Notes$600 million2049589 589 
2.700% Notes$750 million2051732 732 
6.950% Debentures$157 million 2097154 154 
Other199 177 
Total long-term debt including current maturities8,254 8,260 
Current maturities(674)(1)
Total long-term debt$7,580 $8,259 
Schedule of Aggregate Future Maturities of Long-term Debt
The aggregate future maturities of long-term debt as of December 31, 2024 are as follows (in millions):

Amount
2025$675 
20261,007 
2027265 
20281 
2029145 
Thereafter
6,428 
Total estimated future maturities
$8,521 
v3.25.0.1
Stock Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Schedule of Option Activity
A summary of option activity during 2024 is presented below (in thousands, except per share amounts):
SharesWeighted-Average
Exercise Price
Shares under option at December 31, 20231,614 $37.11
Exercised(567)44.38
Shares under option at December 31, 20241,047 $33.18
Exercisable at December 31, 20241,047 $33.18
Schedule of Restricted Stock Awards and PSUs Activity
A summary of Restricted Stock Awards and PSUs activity during 2024 is presented below (in thousands, except per share amounts):
Restricted
Stock Awards and PSUs
Weighted Average
Grant-Date Fair Value
Per Share
Non-vested at January 1, 20245,332 $69.82
Granted2,635 55.16
Vested(2,396)58.70
Forfeited(286)67.19
Non-vested at December 31, 20245,285 $68.77
v3.25.0.1
Other (Income) Expense - Net (Tables)
 12 Months Ended
Dec. 31, 2024
Other Income and Expenses [Abstract]  
Schedule of Other (Income) Expense - Net
The following table sets forth the items in other (income) expense (in millions). 
Year Ended December 31
 202420232022
Gains on sale of assets$(27)$(38)$(78)
Other – net(224)(138)(280)
 $(251)$(176)$(358)
v3.25.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Earnings Before Income Taxes by Geographic Region
The following table sets forth the geographic split of earnings before income taxes (in millions).
Year Ended December 31
 202420232022
United States$656 $1,844 $2,725 
Foreign1,599 2,450 2,508 
Total Earnings Before Income Taxes
$2,255 $4,294 $5,233 
Schedule of Significant Components of Income Taxes
Significant components of income tax expense are as follows (in millions):
Year Ended December 31
 202420232022
Current expense
 
Federal$108 $291 $379 
State8 47 97 
Foreign490 513 481 
$606 $851 $957 
Deferred expense (benefit)
 
Federal(99)(52)23 
State6 (10)7 
Foreign(37)39 (119)
$(130)$(23)$(89)
Income tax expense
$476 $828 $868 
Schedule of Significant Components of Deferred Tax Liabilities and Assets
Significant components of deferred tax liabilities and assets are as follows (in millions):
December 31, 2024December 31, 2023
Deferred tax liabilities 
Property, plant, and equipment$808 $827 
Intangibles343 358 
Right of use assets317 263 
Equity in earnings of affiliates236 214 
Debt exchange49 50 
Reserves and other accruals133 49 
Other30 137 
 $1,916 $1,898 
Deferred tax assets 
Pension and postretirement benefits$95 $111 
Inventories12 20 
Lease liabilities323 268 
Stock compensation36 42 
Foreign tax loss carryforwards386 494 
Capital loss carryforwards41 42 
State tax attributes23 25 
US carryforwards
196 27 
Other111 71 
Gross deferred tax assets1,223 1,100 
Valuation allowances(223)(216)
Net deferred tax assets$1,000 $884 
Net deferred tax liabilities$916 $1,014 
The net deferred tax liabilities are classified as follows: 
Noncurrent assets
$352 $295 
Noncurrent liabilities(1,268)(1,309)
 $(916)$(1,014)
Schedule of Valuation Allowance
The activity related to the income tax valuation allowance for the years ended December 31, 2024, 2023, and 2022 was as follows (in millions):
Year Ended December 31
202420232022
Opening balance, January 1
$216 $209 $281 
Additions
40 58 18 
Deductions
(33)(51)(90)
Ending balance, December 31
$223 $216 $209 
Schedule of Reconciliation of Statutory Federal Income Tax Rate to 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
 202420232022
US Federal Statutory rate
21.0 %21.0 %21.0 %
State income taxes, net of federal tax benefit0.2 0.9 1.4 
Foreign earnings taxed at rates other than the U.S. statutory rate2.2 (0.3)(3.8)
Foreign currency effects/remeasurement(4.8)0.5 0.6 
Withholding Tax
1.8 0.1 — 
Impairment of Investments4.3 0.5 — 
Change in Uncertain Tax Position
3.2 0.1 0.5 
Tax benefit on U.S. biodiesel credits(2.9)(1.7)(1.2)
Second-generation biofuel credit
(1.2)— — 
U.S. railroad credits
(2.5)(1.5)(1.2)
U.S. tax on foreign earnings0.6 1.2 0.2 
Other(0.8)(1.5)(0.9)
Effective income tax rate21.1 %19.3 %16.6 %
Schedule of Unrecognized Tax Benefits
The following table sets forth a rollforward of activity of unrecognized tax benefits for the year ended December 31, 2024 and 2023 (in millions).
 
December 31,
 20242023
Opening balance, January 1
$168 $151 
Net additions related to current year’s tax positions
12 2 
Net additions related to prior years’ tax positions
57 28 
Additions (adjustments) related to acquisitions2 — 
Reductions related to lapse of statute of limitations(6)(6)
Settlements with tax authorities(48)(7)
Ending balance, December 31
$185 $168 
v3.25.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Lease Cost and Other Information
The following table sets forth the amounts relating to the Company’s total lease cost and other information (in millions).

Year Ended December 31
202420232022
Lease cost:
Operating lease cost$410 $390 $356 
Short-term lease cost135 126 127 
Total lease cost$545 $516 $483 
Other information:
Operating lease liability principal payments (1)
$397 $374 $339 
Right-of-use assets obtained in exchange for new operating lease liabilities$437 $327 $357 
December 31
20242023
Weighted-average remaining lease term - operating leases (in years)77
Weighted average discount rate - operating leases4.5 %4.1 %
    

(1) Operating lease payments are presented as operating activities within the Consolidated Statements of Cash Flows.
Schedule of Aggregate Future Lease Payments for Operating Leases
The aggregate future lease payments for operating leases as of December 31, 2024 are as follows (in millions):
 Undiscounted
 Cash Flows
2025$377 
2026284 
2027231 
2028180 
2029122 
Thereafter442 
Total undiscounted minimum lease payments1,636 
Less: Interest (1)
(255)
Lease liability$1,381 

(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.
v3.25.0.1
Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Schedule of Components of Retirement Plan Expense
The following table sets forth the components of retirement plan expense for the years ended December 31, 2024, 2023, and 2022 (in millions).
 Pension BenefitsPostretirement Benefits
Year Ended December 31Year Ended December 31
202420232022202420232022
Retirement plan expense
Defined benefit plans:
Service cost (benefits earned during the period)$46 $41 $48 $— $— $1 
Interest cost79 76 48 5 6 3 
Expected return on plan assets(89)(83)(79)— — — 
Settlement charges2 — — — — — 
Curtailments— — (2)— — — 
Amortization of actuarial loss5 3 17 3 2 5 
Amortization of prior service cost (credit)(20)(20)(20)— — — 
Net periodic defined benefit plan expense23 17 12 8 8 9 
Defined contribution plans76 73 67 — — — 
Total retirement plan expense$99 $90 $79 $8 $8 $9 
Net actuarial loss (gain)
$(38)$46 $(88)$(5)$4 $(29)
Prior service cost
26 19 20 — — — 
Total pre-tax comprehensive loss (income)
$(12)$65 $(68)$(5)$4 $(29)
Schedule of 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, 2024 and 2023 (in millions).
 Pension BenefitsPostretirement Benefits
December 31
2024		December 31
2023		December 31
2024		December 31
2023
Change in benefit obligations:
Benefit obligation, beginning$1,765 $1,587 $113 $118 
Service cost46 41 — — 
Interest cost79 76 5 6 
Actuarial loss (gain)(111)83 (3)6 
Employee contributions4 3 — — 
Benefits paid(62)(53)(14)(17)
Plan amendments6 — — — 
Foreign currency effects and Other
(54)28 1 — 
Benefit obligation, ending$1,673 $1,765 $102 $113 
Change in plan assets
Fair value of plan assets, beginning$1,415 $1,269 $— $— 
Actual return on plan assets7 121 — — 
Employer contributions26 54 14 17 
Employee contributions4 3 — — 
Benefits paid(62)(53)(14)(17)
Foreign currency effects and Other
(39)21 — — 
Fair value of plan assets, ending$1,351 $1,415 $— $— 
Funded status$(322)$(350)$(102)$(113)
Amounts recognized in the Consolidated Balance Sheets consist of:
Other assets (non-current)
$68 $63 $— $— 
Accrued expenses and other payables
(19)(19)(13)(14)
Other long-term liabilities
(371)(394)(89)(99)
Net amount recognized in the Consolidated Balance Sheets
$(322)$(350)$(102)$(113)
Schedule of Principal Assumptions Used in Developing Net Periodic Benefit Cost
The following table sets forth the principal assumptions used in developing net periodic benefit cost:
 Pension BenefitsPostretirement Benefits
December 31
2024		December 31
2023		December 31
2024		December 31
2023
Discount rate4.5%4.8%4.9%5.1%
Expected return on plan assets6.0%6.0%N/AN/A
Rate of compensation increase4.8%4.3%N/AN/A
Interest crediting rate4.0%3.9%N/AN/A

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

 Pension BenefitsPostretirement Benefits
December 31
2024		December 31
2023		December 31
2024		December 31
2023
Discount rate5.0 %4.5 %5.5%4.9%
Rate of compensation increase4.8 %4.8 %N/AN/A
Interest crediting rate4.6 %4.0 %N/AN/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, 2024 and 2023 (in millions).
 Fair Value Measurements at December 31, 2024
Level 1
Level 2
Level 3
Total
Common stock$36 $— $— $36 
Mutual funds154 — — 154 
Corporate bonds— 517 — 517 
U.S. Treasury instruments161 — — 161 
U.S. government agency, state and local government bonds
— 4 — 4 
Other13 18 — 31 
Total assets$364 $539 $— $903 
Common collective trust funds at NAV
U.S. equity30 
International equity67 
Fixed income298 
Other53 
Total assets at fair value$1,351 

 Fair Value Measurements at December 31, 2023
Level 1
Level 2
Level 3
Total
Common stock$37 $— $— $37 
Mutual funds147 — — 147 
Corporate bonds— 473 — 473 
U.S. Treasury instruments262 — — 262 
U.S. government agency, state and local government bonds
— 8 — 8 
Other— 7 — 7 
Total assets$446 $488 $— $934 
Common collective trust funds at NAV
U.S. equity15 
International equity60 
Fixed income330 
Other76 
Total assets at fair value$1,415 
Schedule of 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 2024(1)(2)
December 31
2023(2)
Equity securities21%19%
Debt securities68%77%
Other11%4%
Total100%100%

(1)The Company’s U.S. pension plans contain approximately 68% 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 23% equity securities, 74% debt securities, and 3% other. 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 18% equity securities, 56% debt securities, and 26% other. 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, 2024 and 2023 measurement dates.
Schedule of Contributions and Expected Future Benefit Payments
The following benefit payments, which reflect expected future service, are expected to be paid by the benefit plans (in millions):
 
Pension
Benefits		Postretirement
Benefits
2025$76 $13 
202683 12 
202789 11 
202896 10 
2029102 10 
2030-2034590 39 
v3.25.0.1
Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Schedule of Changes in AOCI
The following tables set forth the changes in AOCI by component and the reclassifications out of AOCI for the years ended December 31, 2024, 2023, and 2022 (in millions).
 
 
Foreign
Currency
Translation
Adjustments
 
Deferred
Gain (Loss)
on Hedging
Activities
Pension and
Other
Postretirement
Benefit
Liabilities
 
Unrealized
Gain (Loss)
on
Investments
 
Accumulated
Other
Comprehensive
Income (Loss)
Balance at December 31, 2021$(2,248)$225 $(147)$(2)$(2,172)
Other comprehensive income (loss) before reclassifications(609)268 117 (12)(236)
Gain (loss) from net investment hedges328 — — — 328 
Amounts reclassified from AOCI— (352)23 — (329)
Tax effect(93)7 (15)1 (100)
Net of tax amount(374)(77)125 (11)(337)
Balance at December 31, 2022(2,622)148 (22)(13)(2,509)
Other comprehensive income (loss) before reclassifications204 337 (46)16 511 
Gain (loss) on net investment hedges(153)— — — (153)
Amounts reclassified from AOCI— (322)(42)— (364)
Tax effect32 (5)2 (1)28 
Net of tax amount83 10 (86)15 22 
Balance at December 31, 2023(2,539)158 (108)2 (2,487)
Other comprehensive income (loss) before reclassifications(607)(118)(27)(16)(768)
Gain (loss) on net investment hedges192 — — 192 
Amounts reclassified from AOCI— 77 42 — 119 
Tax effect(45)9 (7)(1)(44)
Net of tax amount(460)(32)8 (17)(501)
Balance at December 31, 2024$(2,999)$126 $(100)$(15)$(2,988)
Schedule of Reclassifications out of AOCI
Amounts reclassified from AOCI
Year Ended December 31,
Affected line item in the
Consolidated Statements of
Details about AOCI components202420232022
Earnings
Deferred loss (gain) on hedging activities
$— $— $(1)Revenues
77 (322)(351)Cost of products sold
77 (322)(352)Earnings before income taxes
(20)77 62 Income tax expense
$57 $(245)$(290)Net earnings
v3.25.0.1
Segment and Geographic Information (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information
The following tables present data by segment (in millions).

Year Ended December 31, 2024
Ag Services
and Oilseeds		Carbohydrate
Solutions		NutritionTotal
Revenue from external customers
$66,516 $11,234 $7,349 $85,099 
Other Business
431 
Total revenues
$85,530 
Less:
Cost of materials60,378 7,170 4,651 
Manufacturing costs3,436 2,592 1,249 
Selling, general, and administrative expenses
919 326 1,166 
Other segment items (1)
(664)(230)(103)
Segment operating profit$2,447 $1,376 $386 $4,209 
Reconciliation of segment operating profit
Other Business
247 
Corporate(1,721)
Specified items:
Gains on sales of assets and businesses10 
Asset impairment, restructuring, and net settlement contingencies (2)
(490)
Earnings before income taxes$2,255 
(1) Other segment items for each reportable segment include:
Ag Services and Oilseeds: Equity in the earnings of affiliates; interest and investment income, interest expense; and other income/expense.
Carbohydrate Solutions: Equity in the earnings of affiliates and other income/expense.
Nutrition: Equity in the earnings of affiliates; asset impairment, exit, and restructuring charges; and other income/expense.

(2) These charges primarily include a $461 million impairment charge related to the Company's investment in Wilmar, within the Ag Services and Oilseeds segment, and a $43 million impairment charge related to the discontinued animal nutrition trademarks, within the Nutrition segment, partially offset by reversals of certain contingency liabilities in the Ag Services and Oilseeds segment.
Year Ended December 31, 2023
Ag Services
and Oilseeds		Carbohydrate
Solutions		NutritionTotal
Revenue from external customers
$73,426 $12,874 $7,211 $93,511 
Other Business424 
Total revenues
$93,935 
Less:
Cost of materials65,751 8,729 4,608 
Manufacturing costs3,338 2,550 1,136 
Selling, general, and administrative expenses
880 323 1,034 
Other segment items(1)
(610)(103)6 
Segment operating profit$4,067 $1,375 $427 $5,869 
Reconciliation of segment operating profit
Other Business
375 
Corporate(1,606)
Specified items:
Gains on sales of assets and businesses17 
Asset impairment, restructuring, and net settlement contingencies (2)
(361)
Earnings before income taxes$4,294 

(1) Other segment items for each reportable segment include:
Ag Services and Oilseeds: Equity in the earnings of affiliates; interest and investment income; and other income/expense.

Carbohydrate Solutions: Equity in the earnings of affiliates and other income/expense.

Nutrition: Equity in the earnings of affiliates; interest and investment income; and other income/expense.

(2) These charges were related to the impairment of certain long-lived assets, goodwill, intangibles, and an equity investment, restructuring, and a contingency related to import duties, partially offset by settlement/contingency adjustments.
Year Ended December 31, 2022
Ag Services
and Oilseeds		Carbohydrate
Solutions		NutritionTotal
Revenue from external customers
$79,563 $13,961 $7,636 $101,160 
Other Business396 
Total revenues
$101,556 
Less:
Cost of materials72,464 9,867 4,900 
Manufacturing costs3,135 2,522 1,075 
Selling, general, and administrative expenses
839 338 1,040 
Other segment items(1)
(1,276)(179)(47)
Segment operating profit$4,401 $1,413 $668 $6,482 
Reconciliation of segment operating profit
Other Business
167 
Corporate(1,316)
Specified items:
Gains on sales of assets and businesses47 
Asset impairment, restructuring, and net settlement contingencies(147)
Earnings before income taxes$5,233 
(1) Other segment items for each reportable segment include:
Ag Services and Oilseeds: Equity in the earnings of affiliates; interest and investment income; and other income/expense.

Carbohydrate Solutions: Equity in the earnings of affiliates and other income/expense.

Nutrition: Equity in the earnings of affiliates and other income/expense.
(In millions)Year Ended December 31
 202420232022
Intersegment revenue
Ag Services and Oilseeds$1,716 $2,108 $2,045 
Carbohydrate Solutions889 918 968 
Nutrition68 48 62 
Total intersegment revenue
$2,673 $3,074 $3,075 
Depreciation expense
Ag Services and Oilseeds$376 $350 $334 
Carbohydrate Solutions305 304 307 
Nutrition151 132 120 
Total segment depreciation expense
832 786 761 
Other Business
9 10 9 
Corporate34 29 24 
Total depreciation expense
$875 $825 $794 
Amortization expense
Ag Services and Oilseeds$14 $17 $17 
Carbohydrate Solutions6 8 9 
Nutrition158 136 139 
Total segment amortization expense
178 161 165 
Corporate88 73 69 
Total amortization expense
$266 $234 $234 
Interest and investment income
Ag Services and Oilseeds$84 $54 $52 
Nutrition— (18)2 
Total segment interest and investment income
84 36 54 
Other Business
463 499 185 
Corporate15 (36)54 
Total interest and investment income
$562 $499 $293 
Equity in earnings of unconsolidated affiliates
Ag Services and Oilseeds$474 $459 $714 
Carbohydrate Solutions127 76 94 
Nutrition29 21 23 
Total segment equity in earnings of unconsolidated affiliates
630 556 831 
Corporate(9)(5)1 
Total equity in earnings of affiliates
$621 $551 $832 
Geographic Information
The following geographic data include revenues from external customers attributed to the countries based on the location of the subsidiary making the sale (in millions). 
Year Ended
December 31
 202420232022
Revenues 
United States$33,550 $38,783 $43,272 
Switzerland19,877 19,898 21,821 
Cayman Islands5,603 7,646 5,883 
Brazil3,353 3,361 4,004 
Mexico3,209 3,185 3,709 
Canada2,055 2,400 2,272 
United Kingdom2,186 2,219 2,231 
Other Foreign15,697 16,443 18,364 
 $85,530 $93,935 $101,556 

Long-lived assets represent the net book value of property, plant, and equipment and right-of-use (ROU) assets based on physical location (in millions).
December 31
20242023
Property, plant, and equipment, net
United States$6,965 $6,660 
Brazil872 874 
Other Foreign3,000 2,974 
Total property, plant, and equipment, net
$10,837 $10,508 
ROU assets
United States$1,063 $913 
Other Foreign295 298 
Total ROU assets
$1,358 $1,211 
Total long-lived assets
$12,195 $11,719 
v3.25.0.1
Asset Impairment, Exit, and Restructuring Costs (Tables)
 12 Months Ended
Dec. 31, 2024
Restructuring, Settlement and Impairment Provisions [Abstract]  
Schedule of 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
202420232022
Restructuring and exit costs (1)
$26 $33 $29 
Impairment charge - goodwill and other intangible assets (2)
43 201 2 
Impairment charge - other long-lived assets (3)
476 108 35 
Total asset impairment, exit, and restructuring costs$545 $342 $66 

(1)The year ended December 31, 2024 includes restructuring charges of $23 million, within Corporate, presented as a specified item. The year ended December 31, 2023 includes several individually insignificant restructuring charges totaling $27 million presented as specified items across the Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition segments, and $6 million within Corporate. The year ended December 31, 2022 includes several individually insignificant restructuring charges totaling $28 million presented as specified items and restructuring charges of $1 million within Corporate.
(2)The year ended December 31, 2024 includes impairments of discontinued Animal Nutrition trademarks of $43 million, within the Nutrition segment, presented as specified items. The year ended December 31, 2023 includes impairments related to goodwill of $137 million and customer list and discontinued Animal Nutrition trademarks totaling $64 million, within the Nutrition segment, presented as specified items. The year ended December 31, 2022 includes customer list impairment of $2 million, within the Nutrition segment presented as specified items.

(3)The year ended December 31, 2024 includes $461 million impairment charge related to the Company’s investment in Wilmar, within the Ag Services and Oilseeds segment, presented as a specified item. The year ended December 31, 2023 includes impairments related to certain long-lived assets of $10 million, $33 million, and $65 million, within the Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition segments, respectively, presented as specified items. The year ended December 31, 2022 includes impairments related to certain long-lived assets of $15 million and $20 million, within the Carbohydrate Solutions and Nutrition segments, respectively, presented as specified items.
v3.25.0.1
Summary of Significant Accounting Policies - Additional Information (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2024
USD ($)
segment
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Significant Accounting Policies [Line Items]        
Number of reportable segments | segment   3    
Bad debt (reversals) expense   $ (16) $ 6 $ 88
Cost method investments $ 439 439 438  
Revaluation losses 18 16 76  
Revaluation gains 2     37
Cumulative upward adjustment 113 113    
Cumulative downward adjustment $ 75 75    
Capitalized interest   $ 32 32 20
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration] Accounts Payable, Current Accounts Payable, Current    
Supplier outstanding payment obligations $ 222 $ 222 274 196
Costs incurred, net of expenditures subsequently reimbursed by government grants   269 256 $ 216
Other   $ (9) $ 36  
Minimum        
Significant Accounting Policies [Line Items]        
Renewal lease term 6 months 6 months    
Estimated useful lives 1 year 1 year    
Minimum | Building        
Significant Accounting Policies [Line Items]        
Useful life 15 years 15 years    
Minimum | Machinery and Equipment        
Significant Accounting Policies [Line Items]        
Useful life 3 years 3 years    
Maximum        
Significant Accounting Policies [Line Items]        
Renewal lease term 95 years 95 years    
Estimated useful lives 50 years 50 years    
Maximum | Building        
Significant Accounting Policies [Line Items]        
Useful life 40 years 40 years    
Maximum | Machinery and Equipment        
Significant Accounting Policies [Line Items]        
Useful life 40 years 40 years    
v3.25.0.1
Summary of Significant Accounting Policies - Changes in Allowance for Estimated Uncollectible Amounts (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Opening balance, January 1 $ 215 $ 199  
Provisions (reversals), net (16) 6 $ 88
Recoveries 9 2  
Write-offs against allowance (32) (28)  
Other (9) 36  
Closing balance, December 31 $ 167 $ 215 $ 199
v3.25.0.1
Summary of Significant Accounting Policies - Inventories (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Accounting Policies [Abstract]    
Raw materials and supplies $ 1,922 $ 1,944
Finished goods 2,689 3,026
Market inventories 6,961 6,987
Total inventories $ 11,572 $ 11,957
v3.25.0.1
Summary of Significant Accounting Policies - Changes in Outstanding Payment Obligations (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Supplier Finance Program, Obligation [Roll Forward]    
Opening balance, January 1 $ 274 $ 196
Obligations confirmed 948 1,100
Obligations paid (1,000) (1,022)
Closing balance, December 31 $ 222 $ 274
v3.25.0.1
Summary of Significant Accounting Policies - Changes in Redeemable Non-controlling Interest (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Increase (Decrease) in Temporary Equity [Roll Forward]      
Opening balance, January 1 $ 320 $ 299 $ 259
Net income (loss) attributable to redeemable non-controlling interests (21) (6) 21
Acquisition of redeemable non-controlling interests (18) 0 0
Currency translation adjustments and other (28) 27 19
Closing balance, December 31 $ 253 $ 320 $ 299
PetDine, LLC. | PetDine, LLC.      
Increase (Decrease) in Temporary Equity [Roll Forward]      
Option to acquire interest percentage 25.00%    
Redeemable Non-controlling Interests      
Increase (Decrease) in Temporary Equity [Roll Forward]      
Closing balance, December 31 $ 136    
v3.25.0.1
Revenues - Disaggregation of Revenues (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue $ 24,373 $ 25,691 $ 27,606
Topic 815 Revenue 61,157 68,244 73,950
Revenues 85,530 93,935 101,556
Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 23,942 25,267 27,210
Topic 815 Revenue 61,157 68,244 73,950
Revenues 85,099 93,511 101,160
Other Business      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 431 424 396
Topic 815 Revenue 0 0 0
Revenues 431 424 396
Ag Services and Oilseeds | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 7,611 7,636 8,168
Topic 815 Revenue 58,905 65,790 71,395
Revenues 66,516 73,426 79,563
Carbohydrate Solutions | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 8,982 10,420 11,406
Topic 815 Revenue 2,252 2,454 2,555
Revenues 11,234 12,874 13,961
Nutrition | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 7,349 7,211 7,636
Topic 815 Revenue 0 0 0
Revenues 7,349 7,211 7,636
Point in Time      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 23,450 24,930 26,788
Point in Time | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 23,019 24,506 26,392
Point in Time | Other Business      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 431 424 396
Point in Time | Ag Services and Oilseeds | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 6,688 6,875 7,350
Point in Time | Carbohydrate Solutions | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 8,982 10,420 11,406
Point in Time | Nutrition | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 7,349 7,211 7,636
Over Time      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 923 761 818
Over Time | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 923 761 818
Over Time | Other Business      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 0 0 0
Over Time | Ag Services and Oilseeds | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 923 761 818
Over Time | Carbohydrate Solutions | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 0 0 0
Over Time | Nutrition | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 0 0 0
Ag Services | Ag Services and Oilseeds | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 4,702 4,871 4,871
Topic 815 Revenue 39,381 42,549 48,310
Revenues 44,083 47,420 53,181
Ag Services | Point in Time | Ag Services and Oilseeds | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 3,779 4,110 4,053
Ag Services | Over Time | Ag Services and Oilseeds | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 923 761 818
Crushing | Ag Services and Oilseeds | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 462 470 573
Topic 815 Revenue 11,374 13,550 12,566
Revenues 11,836 14,020 13,139
Crushing | Point in Time | Ag Services and Oilseeds | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 462 470 573
Crushing | Over Time | Ag Services and Oilseeds | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 0 0 0
Refined Products and Other | Ag Services and Oilseeds | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 2,447 2,295 2,724
Topic 815 Revenue 8,150 9,691 10,519
Revenues 10,597 11,986 13,243
Refined Products and Other | Point in Time | Ag Services and Oilseeds | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 2,447 2,295 2,724
Refined Products and Other | Over Time | Ag Services and Oilseeds | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 0 0 0
Starches and Sweeteners | Carbohydrate Solutions | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 6,335 7,431 7,696
Topic 815 Revenue 2,252 2,454 2,555
Revenues 8,587 9,885 10,251
Starches and Sweeteners | Point in Time | Carbohydrate Solutions | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 6,335 7,431 7,696
Starches and Sweeteners | Over Time | Carbohydrate Solutions | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 0 0 0
Vantage Corn Processors | Carbohydrate Solutions | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 2,647 2,989 3,710
Topic 815 Revenue 0 0 0
Revenues 2,647 2,989 3,710
Vantage Corn Processors | Point in Time | Carbohydrate Solutions | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 2,647 2,989 3,710
Vantage Corn Processors | Over Time | Carbohydrate Solutions | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 0 0 0
Human Nutrition | Nutrition | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 3,944 3,634 3,769
Topic 815 Revenue 0 0 0
Revenues 3,944 3,634 3,769
Human Nutrition | Point in Time | Nutrition | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 3,944 3,634 3,769
Human Nutrition | Over Time | Nutrition | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 0 0 0
Animal Nutrition | Nutrition | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 3,405 3,577 3,867
Topic 815 Revenue 0 0 0
Revenues 3,405 3,577 3,867
Animal Nutrition | Point in Time | Nutrition | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue 3,405 3,577 3,867
Animal Nutrition | Over Time | Nutrition | Operating Segments      
Revenue from Contract with Customer [Abstract]      
Topic 606 Revenue $ 0 $ 0 $ 0
v3.25.0.1
Acquisitions - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Business Acquisition [Line Items]    
Cash acquired $ 21  
Goodwill 557 $ 20
Goodwill expected to be deductible for tax purposes 373  
Revela    
Business Acquisition [Line Items]    
Cash consideration 948  
Goodwill $ 409  
v3.25.0.1
Acquisitions - Aggregate Cash Consideration (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Business Acquisition [Line Items]      
Working capital, net of cash acquired $ 67    
Property, plant, and equipment 79    
Goodwill 557 $ 20  
Other intangible assets 269    
Other long-term assets 38    
Long-term liabilities (83)    
Aggregate cash consideration, net of cash acquired 927 $ 23 $ 22
Revela      
Business Acquisition [Line Items]      
Working capital, net of cash acquired 49    
Property, plant, and equipment 38    
Goodwill 409    
Other intangible assets 166    
Other long-term assets 28    
Long-term liabilities (42)    
Aggregate cash consideration, net of cash acquired 648    
FDL      
Business Acquisition [Line Items]      
Working capital, net of cash acquired 10    
Property, plant, and equipment 33    
Goodwill 136    
Other intangible assets 93    
Other long-term assets 10    
Long-term liabilities (41)    
Aggregate cash consideration, net of cash acquired 241    
PT      
Business Acquisition [Line Items]      
Working capital, net of cash acquired 6    
Property, plant, and equipment 6    
Goodwill 3    
Other intangible assets 0    
Other long-term assets 0    
Long-term liabilities 0    
Aggregate cash consideration, net of cash acquired 15    
TNS      
Business Acquisition [Line Items]      
Working capital, net of cash acquired 2    
Property, plant, and equipment 2    
Goodwill 9    
Other intangible assets 10    
Other long-term assets 0    
Long-term liabilities 0    
Aggregate cash consideration, net of cash acquired $ 23    
v3.25.0.1
Acquisitions - Other Intangible Assets (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Finite-Lived Intangible Assets [Line Items]  
Other intangible assets $ 269
Revela  
Finite-Lived Intangible Assets [Line Items]  
Other intangible assets 166
FDL  
Finite-Lived Intangible Assets [Line Items]  
Other intangible assets 93
TNS  
Finite-Lived Intangible Assets [Line Items]  
Other intangible assets 10
Customer lists  
Finite-Lived Intangible Assets [Line Items]  
Other intangible assets 205
Customer lists | Revela  
Finite-Lived Intangible Assets [Line Items]  
Other intangible assets 124
Customer lists | FDL  
Finite-Lived Intangible Assets [Line Items]  
Other intangible assets 73
Customer lists | TNS  
Finite-Lived Intangible Assets [Line Items]  
Other intangible assets 8
Recipes and others  
Finite-Lived Intangible Assets [Line Items]  
Other intangible assets 64
Recipes and others | Revela  
Finite-Lived Intangible Assets [Line Items]  
Other intangible assets 42
Recipes and others | FDL  
Finite-Lived Intangible Assets [Line Items]  
Other intangible assets 20
Recipes and others | TNS  
Finite-Lived Intangible Assets [Line Items]  
Other intangible assets $ 2
Minimum | Customer lists  
Finite-Lived Intangible Assets [Line Items]  
Useful Lives 10 years
Minimum | Recipes and others  
Finite-Lived Intangible Assets [Line Items]  
Useful Lives 10 years
Maximum | Customer lists  
Finite-Lived Intangible Assets [Line Items]  
Useful Lives 18 years
Maximum | Recipes and others  
Finite-Lived Intangible Assets [Line Items]  
Useful Lives 21 years
v3.25.0.1
Fair Value Measurements - Fair Value Measurements at Reporting Date (Details) - Recurring - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Assets:    
Inventories carried at market $ 6,961 $ 6,987
Cash equivalents 70 209
Marketable securities 246  
Segregated investments 1,681 1,362
Total Assets 10,066 10,104
Liabilities:    
Inventory-related payables 742 1,320
Total Liabilities 1,714 2,421
Commodity contracts    
Assets:    
Unrealized gains on derivative contracts 831 1,359
Liabilities:    
Unrealized losses on derivative contracts 760 957
Foreign exchange contracts    
Assets:    
Unrealized gains on derivative contracts 272 187
Liabilities:    
Unrealized losses on derivative contracts 212 144
Interest rate contracts    
Assets:    
Unrealized gains on derivative contracts 5  
Level 1    
Assets:    
Inventories carried at market 0 0
Cash equivalents 70 209
Marketable securities 246  
Segregated investments 1,681 1,362
Total Assets 1,997 1,571
Liabilities:    
Inventory-related payables 0 0
Total Liabilities 0 0
Level 1 | Commodity contracts    
Assets:    
Unrealized gains on derivative contracts 0 0
Liabilities:    
Unrealized losses on derivative contracts 0 0
Level 1 | Foreign exchange contracts    
Assets:    
Unrealized gains on derivative contracts 0 0
Liabilities:    
Unrealized losses on derivative contracts 0 0
Level 1 | Interest rate contracts    
Assets:    
Unrealized gains on derivative contracts 0  
Level 2    
Assets:    
Inventories carried at market 3,930 4,274
Cash equivalents 0 0
Marketable securities 0  
Segregated investments 0 0
Total Assets 4,611 5,089
Liabilities:    
Inventory-related payables 654 1,219
Total Liabilities 1,221 1,863
Level 2 | Commodity contracts    
Assets:    
Unrealized gains on derivative contracts 404 628
Liabilities:    
Unrealized losses on derivative contracts 355 500
Level 2 | Foreign exchange contracts    
Assets:    
Unrealized gains on derivative contracts 272 187
Liabilities:    
Unrealized losses on derivative contracts 212 144
Level 2 | Interest rate contracts    
Assets:    
Unrealized gains on derivative contracts 5  
Level 3    
Assets:    
Inventories carried at market 3,031 2,713
Cash equivalents 0 0
Marketable securities 0  
Segregated investments 0 0
Total Assets 3,458 3,444
Liabilities:    
Inventory-related payables 88 101
Total Liabilities 493 558
Level 3 | Commodity contracts    
Assets:    
Unrealized gains on derivative contracts 427 731
Liabilities:    
Unrealized losses on derivative contracts 405 457
Level 3 | Foreign exchange contracts    
Assets:    
Unrealized gains on derivative contracts 0 0
Liabilities:    
Unrealized losses on derivative contracts 0 $ 0
Level 3 | Interest rate contracts    
Assets:    
Unrealized gains on derivative contracts $ 0  
v3.25.0.1
Fair Value Measurements - Reconciliation of Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]   Cost of products sold
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Cost of products sold Cost of products sold
Level 3    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance at beginning of period $ 3,444 $ 3,301
Total increase (decrease) in net realized/unrealized gains included in cost of products sold 1,656 1,892
Purchases 16,296 29,929
Sales (16,609) (30,038)
Settlements (1,369) (1,563)
Transfers into Level 3 1,657 1,955
Transfers out of Level 3 (1,617) (2,032)
Balance at end of period 3,458 3,444
Unrealized gains relating to Level 3 assets   2,100
Level 3 | Inventories Carried at Market    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance at beginning of period 2,713 2,760
Total increase (decrease) in net realized/unrealized gains included in cost of products sold 646 432
Purchases 16,296 29,929
Sales (16,609) (30,038)
Settlements 0 (4)
Transfers into Level 3 1,416 1,584
Transfers out of Level 3 (1,431) (1,950)
Balance at end of period 3,031 2,713
Level 3 | Commodity Derivative Contracts Gains    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance at beginning of period 731 541
Total increase (decrease) in net realized/unrealized gains included in cost of products sold 1,010 1,460
Purchases 0 0
Sales 0 0
Settlements (1,369) (1,559)
Transfers into Level 3 241 371
Transfers out of Level 3 (186) (82)
Balance at end of period $ 427 $ 731
v3.25.0.1
Fair Value Measurements - Reconciliation Of Liabilities Measured At Fair Value On A Recurring Basis (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Sales $ (81)  
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]   Cost of products sold, Interest expense
Fair Value, Liability, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Cost of products sold Cost of products sold, Interest expense
Inventory- related Payables    
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Sales $ (81)  
Commodity Derivative Contracts Losses    
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Sales 0  
Level 3    
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance at beginning of period 558 $ 698
Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense 1,112 1,302
Purchases 79 49
Settlements (1,142) (1,618)
Transfers into Level 3 69 158
Transfers out of Level 3 (102) (31)
Balance at end of period 493 558
Unrealized losses relating to Level 3 liabilities   (1,300)
Level 3 | Inventory- related Payables    
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance at beginning of period 101 89
Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense (12) 5
Purchases 79 49
Settlements 0 (35)
Transfers into Level 3 1 1
Transfers out of Level 3 0 (8)
Balance at end of period 88 101
Level 3 | Commodity Derivative Contracts Losses    
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance at beginning of period 457 603
Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense 1,124 1,303
Purchases 0 0
Settlements (1,142) (1,583)
Transfers into Level 3 68 157
Transfers out of Level 3 (102) (23)
Balance at end of period 405 457
Level 3 | Debt Conversion Option    
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance at beginning of period $ 0 6
Total increase (decrease) in net realized/unrealized losses included in cost of products sold and interest expense   (6)
Purchases   0
Settlements   0
Transfers into Level 3   0
Transfers out of Level 3   0
Balance at end of period   $ 0
v3.25.0.1
Fair Value Measurements - Additional Information (Details) - Weighted Average - Level 3 - Recurring
Dec. 31, 2024
Dec. 31, 2023
Inventories and Related Payables    
Fair Value Measurements [Line Items]    
Basis 31.30% 33.20%
Inventories Carried at Market    
Fair Value Measurements [Line Items]    
Basis 24.90% 25.00%
v3.25.0.1
Fair Value Measurements - Unobservable Inputs In Level 3 Valuations Of Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details) - Weighted Average - Level 3 - Recurring
Dec. 31, 2024
Dec. 31, 2023
Inventories and Related Payables    
Unobservable inputs in Level 3 Valuations of Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items]    
Basis 31.30% 33.20%
Transportation cost 0.00% 0.00%
Commodity Derivative Contracts    
Unobservable inputs in Level 3 Valuations of Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items]    
Basis 23.40% 24.90%
Transportation cost 10.80% 3.20%
Inventories and Related Payables    
Unobservable inputs in Level 3 Valuations of Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items]    
Basis 24.90% 25.00%
Transportation cost 10.80% 11.50%
Commodity Derivative Contracts    
Unobservable inputs in Level 3 Valuations of Assets and Liabilities Measured at Fair Value on a Recurring Basis [Line Items]    
Basis 21.80% 24.20%
Transportation cost 10.80% 9.30%
v3.25.0.1
Derivative Instruments & Hedging Activities - Fair Value Of Derivatives Not Designated As Hedging Instruments (Details) - Not Designated As Hedging Instrument - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Derivative [Line Items]    
Foreign Currency Contracts $ 272 $ 187
Commodity Contracts 828 1,343
Total 1,100 1,530
Foreign Currency Contracts 102 122
Commodity Contracts 760 957
Total $ 862 $ 1,079
v3.25.0.1
Derivative Instruments & Hedging Activities - Pre-Tax Gains (Losses) On Derivatives Not Designated As Hedging Instruments (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Derivative [Line Items]      
Total gain (loss) recognized in earnings $ 174 $ 957 $ 408
Revenues      
Derivative [Line Items]      
Foreign Currency Contracts 29 (33) (42)
Commodity Contracts 0 0 0
Debt Conversion Option   0 0
Total gain (loss) recognized in earnings 29 (33) (42)
Cost of products sold      
Derivative [Line Items]      
Foreign Currency Contracts (388) 322 367
Commodity Contracts 391 619 (120)
Debt Conversion Option   0 0
Total gain (loss) recognized in earnings 3 941 247
Interest Expense      
Derivative [Line Items]      
Foreign Currency Contracts 0 0 0
Commodity Contracts 0 0 0
Debt Conversion Option   6 9
Total gain (loss) recognized in earnings 0 6 9
Other expense (income) - net      
Derivative [Line Items]      
Foreign Currency Contracts 142 43 194
Commodity Contracts 0 0 0
Debt Conversion Option   0 0
Total gain (loss) recognized in earnings $ 142 $ 43 $ 194
v3.25.0.1
Derivative Instruments & Hedging Activities - Additional Information (Details)
€ in Millions, bu in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2024
USD ($)
bu
Dec. 31, 2024
EUR (€)
bu
Dec. 31, 2023
USD ($)
Dec. 31, 2023
EUR (€)
Derivative [Line Items]          
Hedges of net investment in a foreign subsidiary   $ 674,000,000 € 650 $ 674,000,000 € 650
After-tax gains in AOCI related to foreign exchange $ 251,000,000 251,000,000   212,000,000  
Net Investment Hedges          
Derivative [Line Items]          
After-tax losses in AOCI related to foreign exchange 99,000,000 99,000,000   5,000,000  
Currency Swap | Net Investment Hedges          
Derivative [Line Items]          
Derivative liability, notional amount 394,000,000 394,000,000   805,000,000  
Foreign Exchange Forward | Net Investment Hedges          
Derivative [Line Items]          
Derivative liability, notional amount 2,100,000,000 2,100,000,000   2,100,000,000  
Fair Value Hedges          
Derivative [Line Items]          
Derivative liability, notional amount 500,000,000 $ 500,000,000      
Designated As Hedging Instrument          
Derivative [Line Items]          
Corn processed per month (in bushels) | bu   59 59    
After-tax gains (losses) in AOCI (13,000,000) $ (13,000,000)   $ 42,000,000  
After-tax losses expected to be recognized in the next 12 months 13,000,000 $ 13,000,000      
Designated As Hedging Instrument | Corn          
Derivative [Line Items]          
Derivative hedge term   12 months 12 months    
Designated As Hedging Instrument | Soybean          
Derivative [Line Items]          
Derivative hedge term   12 months 12 months    
Designated As Hedging Instrument | Natural Gas          
Derivative [Line Items]          
Derivative hedge term   12 months 12 months    
Designated As Hedging Instrument | Fair Value Hedges          
Derivative [Line Items]          
Pre-tax gains related to interest rate swap $ 5,000,000        
Designated As Hedging Instrument | Minimum | Corn          
Derivative [Line Items]          
Percentage of anticipated commodity purchases or production hedged during historical hedging period (as a percent) 12.00% 12.00%      
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent) 9.00% 9.00%      
Designated As Hedging Instrument | Minimum | Soybean          
Derivative [Line Items]          
Percentage of anticipated commodity purchases or production hedged during historical hedging period (as a percent) 76.00% 76.00%      
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent) 5.00% 5.00%      
Designated As Hedging Instrument | Minimum | Natural Gas          
Derivative [Line Items]          
Percentage of anticipated commodity purchases or production hedged during historical hedging period (as a percent) 41.00% 41.00%      
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent) 35.00% 35.00%      
Designated As Hedging Instrument | Maximum | Corn          
Derivative [Line Items]          
Percentage of anticipated commodity purchases or production hedged during historical hedging period (as a percent) 31.00% 31.00%      
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent) 26.00% 26.00%      
Designated As Hedging Instrument | Maximum | Soybean          
Derivative [Line Items]          
Percentage of anticipated commodity purchases or production hedged during historical hedging period (as a percent) 100.00% 100.00%      
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent) 100.00% 100.00%      
Designated As Hedging Instrument | Maximum | Natural Gas          
Derivative [Line Items]          
Percentage of anticipated commodity purchases or production hedged during historical hedging period (as a percent) 74.00% 74.00%      
Percentage of anticipated commodity purchases or production hedged over future hedging period (as a percent) 50.00% 50.00%      
v3.25.0.1
Derivative Instruments and Hedging Activities - Fair Value Of Derivatives Designated As Hedging Instruments (Details) - Designated As Hedging Instrument - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Derivative [Line Items]    
Commodity Contracts $ 3 $ 16
Interest Rate Contracts 5 0
Foreign Currency Contracts 0 0
Total 8 16
Commodity Contracts 0 0
Interest Rate Contracts 0 0
Foreign Currency Contracts 110 22
Total $ 110 $ 22
v3.25.0.1
Derivative Instruments and Hedging Activities - Pre-Tax Gains (Losses) On Derivatives Designated As Hedging Instruments (Details) - Designated As Hedging Instrument - Cost of products sold - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Derivative Instruments, Gains (Loss) [Line Items]      
Commodity Contracts $ (77) $ 322 $ 351
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Cost of products sold Cost of products sold Cost of products sold
v3.25.0.1
Other Current Assets (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Other Assets [Abstract]      
Unrealized gains on derivative contracts $ 1,108 $ 1,546  
Margin deposits and grain accounts 516 560  
Customer omnibus receivable 872 1,052  
Financing receivables - net 258 237  
Insurance premiums receivable 76 61  
Prepaid expenses 279 445  
Biodiesel tax credit 104 119  
Tax receivables 539 491  
Non-trade receivables 393 304  
Other current assets 224 167  
Total other current assets 4,369 4,982  
Interest on financing receivables $ 18 $ 21 $ 15
v3.25.0.1
Accrued Expenses And Other Payables (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Payables and Accruals [Abstract]    
Unrealized losses on derivative contracts $ 972 $ 1,101
Accrued compensation 346 439
Income tax payable 167 284
Other taxes payable 138 172
Accrued interest payable 153 142
Insurance liabilities 172 117
Contract liabilities 534 626
Other deferred income 156 150
Other accruals and payables 1,092 1,045
Total accrued expenses and other payables 3,730 $ 4,076
Revenue recognized $ 529  
v3.25.0.1
Investments in and Advances to Affiliates - Additional Information (Details)
 12 Months Ended
Dec. 31, 2024
USD ($)
affiliate
facility
Dec. 31, 2023
USD ($)
affiliate
Dec. 31, 2022
USD ($)
Schedule Of Equity Method Investments [Line Items]      
Revenues from unconsolidated affiliates $ 85,530,000,000 $ 93,935,000,000 $ 101,556,000,000
Accounts receivable 3,708,000,000 4,232,000,000  
Amount of credit facility provided to unconsolidated affiliates $ 142,000,000    
Number of unconsolidated affiliates provided with credit facilities by the entity | affiliate 7    
Other current assets $ 4,369,000,000 4,982,000,000  
5.97% interest rate      
Schedule Of Equity Method Investments [Line Items]      
Number of facilities with outstanding balance | facility 1    
Credit facility, interest rate percentage 5.90%    
Other current assets $ 2,000,000    
6.9% interest rate      
Schedule Of Equity Method Investments [Line Items]      
Number of facilities with outstanding balance | facility 1    
Credit facility, interest rate percentage 6.90%    
Other current assets $ 7,500,000    
4.2% interest rate      
Schedule Of Equity Method Investments [Line Items]      
Number of facilities with outstanding balance | facility 1    
Credit facility, interest rate percentage 4.20%    
Other current assets $ 7,500,000    
Affiliated Entity      
Schedule Of Equity Method Investments [Line Items]      
Revenues from unconsolidated affiliates 6,700,000,000 7,000,000,000.0 $ 7,800,000,000
Accounts receivable 342,000,000 $ 167,000,000  
Outstanding balance of credit facilities $ 0    
Equity Method Investments      
Schedule Of Equity Method Investments [Line Items]      
Number of unconsolidated affiliates | affiliate 69 73  
Undistributed earnings of unconsolidated affiliates $ 6,100,000,000    
Wilmar      
Schedule Of Equity Method Investments [Line Items]      
Equity method investment, ownership percentage 22.50% 22.50%  
Equity method investment impairment $ 461,000,000    
Carrying value of direct investments 3,900,000,000    
Market value of direct investments $ 3,200,000,000    
Pacificor      
Schedule Of Equity Method Investments [Line Items]      
Equity method investment, ownership percentage 32.20%    
Stratas Foods      
Schedule Of Equity Method Investments [Line Items]      
Equity method investment, ownership percentage 50.00%    
Edible Oils      
Schedule Of Equity Method Investments [Line Items]      
Equity method investment, ownership percentage 50.00%    
Olenex      
Schedule Of Equity Method Investments [Line Items]      
Equity method investment, ownership percentage 37.50%    
SoyVen      
Schedule Of Equity Method Investments [Line Items]      
Equity method investment, ownership percentage 50.00%    
Hungrana      
Schedule Of Equity Method Investments [Line Items]      
Equity method investment, ownership percentage 50.00%    
Almidones Mexicanos      
Schedule Of Equity Method Investments [Line Items]      
Equity method investment, ownership percentage 50.00%    
Terminal de Grãos Ponta da Montanha S.A.      
Schedule Of Equity Method Investments [Line Items]      
Equity method investment, ownership percentage 50.00%    
Gradable, LLC      
Schedule Of Equity Method Investments [Line Items]      
Equity method investment, ownership percentage 50.00%    
Aston Foods      
Schedule Of Equity Method Investments [Line Items]      
Equity method investment, ownership percentage 50.00%    
Red Star Yeast Company, LLC      
Schedule Of Equity Method Investments [Line Items]      
Equity method investment, ownership percentage 40.00%    
LSCP      
Schedule Of Equity Method Investments [Line Items]      
Equity method investment, ownership percentage 22.10%    
Vimison S.A. de C.V.      
Schedule Of Equity Method Investments [Line Items]      
Equity method investment, ownership percentage 45.30%    
ADM Matsutani LLC      
Schedule Of Equity Method Investments [Line Items]      
Equity method investment, ownership percentage 50.00%    
Matsutani Singapore Pte. Ltd.      
Schedule Of Equity Method Investments [Line Items]      
Equity method investment, ownership percentage 50.00%    
ADM Vland Biotech Shandong Co., Ltd.      
Schedule Of Equity Method Investments [Line Items]      
Equity method investment, ownership percentage 50.00%    
Dusial S.A.      
Schedule Of Equity Method Investments [Line Items]      
Equity method investment, ownership percentage 42.80%    
Vitafort ZRT      
Schedule Of Equity Method Investments [Line Items]      
Equity method investment, ownership percentage 34.30%    
v3.25.0.1
Investments in and Advances to Affiliates - Combined Balance Sheets and Statements of Earnings of the Company's Unconsolidated Affiliates (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Combined balance sheets and statements of earnings of the Company's unconsolidated affiliates:      
Current assets $ 27,718 $ 29,767  
Current liabilities (19,938) (18,662)  
Non-current liabilities (10,902) (11,504)  
Non-controlling interests (10) (13)  
Revenues 85,530 93,935 $ 101,556
Gross profit 5,778 7,513 7,570
Net earnings 1,779 3,466 4,365
Unconsolidated Affiliates      
Combined balance sheets and statements of earnings of the Company's unconsolidated affiliates:      
Current assets 33,065 41,032  
Non-current assets 28,962 29,773  
Current liabilities (27,357) (33,812)  
Non-current liabilities (8,772) (8,973)  
Non-controlling interests (2,499) (2,489)  
Net assets 23,399 25,531  
Revenues 77,251 85,754 109,448
Gross profit 3,673 4,261 8,946
Net earnings $ 2,036 $ 2,452 $ 3,140
v3.25.0.1
Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Goodwill [Roll Forward]      
Goodwill, beginning balance $ 4,103,000,000 $ 4,162,000,000  
Acquisitions 557,000,000 20,000,000  
Impairments   (137,000,000) $ 0
Currency translation adjustments and other (151,000,000) 58,000,000  
Goodwill, ending balance 4,509,000,000 4,103,000,000 4,162,000,000
Operating Segments      
Goodwill [Roll Forward]      
Acquisitions 557,000,000    
Other Business      
Goodwill [Roll Forward]      
Goodwill, beginning balance 4,000,000 14,000,000  
Acquisitions 0 0  
Impairments   0  
Currency translation adjustments and other 1,000,000 (10,000,000)  
Goodwill, ending balance 5,000,000 4,000,000 14,000,000
Ag Services and Oilseeds | Operating Segments      
Goodwill [Roll Forward]      
Goodwill, beginning balance 235,000,000 193,000,000  
Acquisitions 0 20,000,000  
Impairments   0  
Currency translation adjustments and other (17,000,000) 22,000,000  
Goodwill, ending balance 218,000,000 235,000,000 193,000,000
Carbohydrate Solutions | Operating Segments      
Goodwill [Roll Forward]      
Goodwill, beginning balance 224,000,000 224,000,000  
Acquisitions 0 0  
Impairments   0  
Currency translation adjustments and other (8,000,000) 0  
Goodwill, ending balance 216,000,000 224,000,000 224,000,000
Nutrition | Operating Segments      
Goodwill [Roll Forward]      
Goodwill, beginning balance 3,640,000,000 3,731,000,000  
Acquisitions   0  
Impairments   (137,000,000)  
Currency translation adjustments and other (127,000,000) 46,000,000  
Goodwill, ending balance $ 4,070,000,000 $ 3,640,000,000 $ 3,731,000,000
v3.25.0.1
Goodwill and Other Intangible Assets - Additional Information (Details)
 12 Months Ended
Dec. 31, 2024
USD ($)
reporting_unit
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Goodwill      
Accumulated amortization loss $ 156,000,000 $ 156,000,000  
Number of reporting units evaluated using a qualitative assessment | reporting_unit 2    
Number of reporting units evaluated using a quantitative assessment | reporting_unit 5    
Goodwill impairment charge   137,000,000 $ 0
Goodwill $ 4,509,000,000 4,103,000,000 4,162,000,000
Intangible assets acquired 269,000,000    
Changes in gross amount of intangible assets 134,000,000    
Foreign currency and other adjustments 122,000,000    
Impairments 43,000,000    
Amortization expense 266,000,000 234,000,000 235,000,000
Estimated future aggregate amortization expense, year one 285,000,000    
Estimated future aggregate amortization expense, year two 284,000,000    
Estimated future aggregate amortization expense, year three 272,000,000    
Estimated future aggregate amortization expense, year four 266,000,000    
Estimated future aggregate amortization expense, year five 205,000,000    
Capitalized software and related costs      
Goodwill      
Amortization expense $ 89,000,000 72,000,000 $ 69,000,000
Animal Nutrition Reporting Unit      
Goodwill      
Goodwill impairment quantitative assessment carrying value percentage 7.00%    
Goodwill   $ 946,000,000  
Animal Nutrition Reporting Unit | Valuation, Income Approach      
Goodwill      
Goodwill, measurement input 0.75    
Animal Nutrition Reporting Unit | Valuation, Market Approach      
Goodwill      
Goodwill, measurement input 0.25    
Human Nutrition Reporting Unit      
Goodwill      
Goodwill impairment quantitative assessment carrying value percentage 32.00%    
Ag Services      
Goodwill      
Goodwill impairment quantitative assessment carrying value percentage 128.00%    
Crushing      
Goodwill      
Goodwill impairment quantitative assessment carrying value percentage 191.00%    
RPO Reporting Units      
Goodwill      
Goodwill impairment quantitative assessment carrying value percentage 209.00%    
v3.25.0.1
Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Schedule of Other Intangible Assets [Line Items]    
Gross Amount $ 4,130 $ 3,892
Accumulated Amortization (1,870) (1,654)
Net 2,260 2,238
Trademarks/brands    
Schedule of Other Intangible Assets [Line Items]    
Gross Amount 86 53
Accumulated Amortization (42) (35)
Net 44 18
Customer lists    
Schedule of Other Intangible Assets [Line Items]    
Gross Amount 1,687 1,544
Accumulated Amortization (708) (627)
Net 979 917
Capitalized software and related costs    
Schedule of Other Intangible Assets [Line Items]    
Gross Amount 964 950
Accumulated Amortization (612) (523)
Net 352 427
Land rights    
Schedule of Other Intangible Assets [Line Items]    
Gross Amount 89 107
Accumulated Amortization (27) (30)
Net 62 77
Other intellectual property    
Schedule of Other Intangible Assets [Line Items]    
Gross Amount 187 211
Accumulated Amortization (142) (135)
Net 45 76
Recipes and other    
Schedule of Other Intangible Assets [Line Items]    
Gross Amount 620 511
Accumulated Amortization (339) (304)
Net 281 207
Intangible assets in process    
Schedule of Other Intangible Assets [Line Items]    
Gross Amount 207 83
Net 207 83
Trademarks/brands    
Schedule of Other Intangible Assets [Line Items]    
Gross Amount 290 375
Net 290 375
Other    
Schedule of Other Intangible Assets [Line Items]    
Gross Amount 0 58
Net $ 0 $ 58
Minimum    
Schedule of Other Intangible Assets [Line Items]    
Useful Life 1 year  
Minimum | Trademarks/brands    
Schedule of Other Intangible Assets [Line Items]    
Useful Life 5 years  
Minimum | Customer lists    
Schedule of Other Intangible Assets [Line Items]    
Useful Life 1 year  
Minimum | Capitalized software and related costs    
Schedule of Other Intangible Assets [Line Items]    
Useful Life 5 years  
Minimum | Land rights    
Schedule of Other Intangible Assets [Line Items]    
Useful Life 20 years  
Minimum | Other intellectual property    
Schedule of Other Intangible Assets [Line Items]    
Useful Life 5 years  
Minimum | Recipes and other    
Schedule of Other Intangible Assets [Line Items]    
Useful Life 1 year  
Maximum    
Schedule of Other Intangible Assets [Line Items]    
Useful Life 50 years  
Maximum | Trademarks/brands    
Schedule of Other Intangible Assets [Line Items]    
Useful Life 20 years  
Maximum | Customer lists    
Schedule of Other Intangible Assets [Line Items]    
Useful Life 30 years  
Maximum | Capitalized software and related costs    
Schedule of Other Intangible Assets [Line Items]    
Useful Life 8 years  
Maximum | Land rights    
Schedule of Other Intangible Assets [Line Items]    
Useful Life 65 years  
Maximum | Other intellectual property    
Schedule of Other Intangible Assets [Line Items]    
Useful Life 20 years  
Maximum | Recipes and other    
Schedule of Other Intangible Assets [Line Items]    
Useful Life 35 years  
v3.25.0.1
Debt Financing Arrangements - Long-Term Debt (Details)
Dec. 31, 2024
USD ($)
Dec. 31, 2024
EUR (€)
Dec. 31, 2023
USD ($)
Debt Instruments [Line Items]      
Total long-term debt including current maturities $ 8,254,000,000   $ 8,260,000,000
Current maturities (674,000,000)   (1,000,000)
Total long-term debt $ 7,580,000,000   8,259,000,000
1.000% Notes      
Debt Instruments [Line Items]      
Interest Rate 1.00% 1.00%  
Face Amount | €   € 650,000,000  
Total long-term debt including current maturities $ 672,000,000   717,000,000
2.500% Notes      
Debt Instruments [Line Items]      
Interest Rate 2.50% 2.50%  
Face Amount $ 1,000,000,000    
Total long-term debt including current maturities $ 999,000,000   998,000,000
7.500% Debentures      
Debt Instruments [Line Items]      
Interest Rate 7.50% 7.50%  
Face Amount $ 147,000,000    
Total long-term debt including current maturities $ 147,000,000   147,000,000
6.750% Debentures      
Debt Instruments [Line Items]      
Interest Rate 6.75% 6.75%  
Face Amount $ 103,000,000    
Total long-term debt including current maturities $ 103,000,000   103,000,000
6.625% Debentures      
Debt Instruments [Line Items]      
Interest Rate 6.625% 6.625%  
Face Amount $ 144,000,000    
Total long-term debt including current maturities $ 144,000,000   144,000,000
3.250% Notes      
Debt Instruments [Line Items]      
Interest Rate 3.25% 3.25%  
Face Amount $ 1,000,000,000    
Total long-term debt including current maturities $ 993,000,000   991,000,000
7.000% Debentures      
Debt Instruments [Line Items]      
Interest Rate 7.00% 7.00%  
Face Amount $ 160,000,000    
Total long-term debt including current maturities $ 161,000,000   159,000,000
2.900% Notes      
Debt Instruments [Line Items]      
Interest Rate 2.90% 2.90%  
Face Amount $ 750,000,000    
Total long-term debt including current maturities $ 745,000,000   744,000,000
5.935% Debentures      
Debt Instruments [Line Items]      
Interest Rate 5.935% 5.935%  
Face Amount $ 336,000,000    
Total long-term debt including current maturities $ 337,000,000   334,000,000
4.500% Notes      
Debt Instruments [Line Items]      
Interest Rate 450.00% 450.00%  
Face Amount $ 500,000,000    
Total long-term debt including current maturities $ 493,000,000   492,000,000
5.375% Debentures      
Debt Instruments [Line Items]      
Interest Rate 5.375% 5.375%  
Face Amount $ 432,000,000    
Total long-term debt including current maturities $ 426,000,000   426,000,000
6.450% Debentures      
Debt Instruments [Line Items]      
Interest Rate 6.45% 6.45%  
Face Amount $ 103,000,000    
Total long-term debt including current maturities $ 103,000,000   102,000,000
5.765% Debentures      
Debt Instruments [Line Items]      
Interest Rate 5.765% 5.765%  
Face Amount $ 297,000,000    
Total long-term debt including current maturities $ 297,000,000   297,000,000
4.535% Debentures      
Debt Instruments [Line Items]      
Interest Rate 4.535% 4.535%  
Face Amount $ 383,000,000    
Total long-term debt including current maturities $ 291,000,000   288,000,000
4.016% Debentures      
Debt Instruments [Line Items]      
Interest Rate 4.016% 4.016%  
Face Amount $ 371,000,000    
Total long-term debt including current maturities $ 266,000,000   263,000,000
3.750% Notes      
Debt Instruments [Line Items]      
Interest Rate 3.75% 3.75%  
Face Amount $ 408,000,000    
Total long-term debt including current maturities $ 403,000,000   403,000,000
4.500% Notes      
Debt Instruments [Line Items]      
Interest Rate 4.50% 4.50%  
Face Amount $ 600,000,000    
Total long-term debt including current maturities $ 589,000,000   589,000,000
2.700% Notes      
Debt Instruments [Line Items]      
Interest Rate 2.70% 2.70%  
Face Amount $ 750,000,000    
Total long-term debt including current maturities $ 732,000,000   732,000,000
6.950% Debentures      
Debt Instruments [Line Items]      
Interest Rate 6.95% 6.95%  
Face Amount $ 157,000,000    
Total long-term debt including current maturities 154,000,000   154,000,000
Other      
Debt Instruments [Line Items]      
Total long-term debt including current maturities $ 199,000,000   $ 177,000,000
v3.25.0.1
Debt Financing Arrangements - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Debt And Financing Arrangements [Line Items]      
Discount amortization expense, net of premium amortization $ 13 $ 15 $ 6
Fair value of long-term debt, excluding current portion 7,100    
Long-term debt 7,580 8,259  
Lines of credit 13,000    
Unused lines of credit 9,100    
Outstanding standby letters of credit and surety bonds 1,400 1,600  
Fair value of trade receivables derecognized $ 2,000 $ 1,600  
Weighted average interest rate on short term borrowings (as a percent) 4.70% 7.40%  
Accounts Receivable Securitization Facility      
Debt And Financing Arrangements [Line Items]      
Lines of credit $ 2,800    
Commercial Paper      
Debt And Financing Arrangements [Line Items]      
Lines of credit 5,100    
Amount utilized from lines of credit facility $ 1,700    
v3.25.0.1
Debt Financing Arrangements - Aggregate Future Maturities of Long-term Debt (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Debt Disclosure [Abstract]  
2025 $ 675
2026 1,007
2027 265
2028 1
2029 145
Thereafter 6,428
Total long-term debt including current maturities $ 8,521
v3.25.0.1
Stock Compensation - Additional Information (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total compensation expense for option grants, Restricted Stock Awards and PSU's $ 74 $ 112 $ 147
Options granted (in shares) 0 0 0
Weighted-average remaining contractual term of options exercisable 1 year    
Weighted-average remaining contractual term of options outstanding 1 year    
Aggregate intrinsic value of options exercisable $ 19    
Aggregate intrinsic value of options outstanding 19    
Total intrinsic values of options exercised 9 $ 20 $ 117
Cash proceeds received from options exercised $ 25 $ 20 $ 90
Shares available for future grants (in shares) 11,200,000    
Stock Options      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expiration period 10 years    
Restricted Stock Awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period 3 years    
Vesting percentage 33.33%    
Performance Stock Units      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period 3 years    
Restricted Stock Awards and PSUs      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Restricted stock awards and PSU's, granted (in shares) 2,635,000 1,700,000 2,300,000
Weighted average grant-date fair value of restricted stock awards and PSU's, granted (in dollars per share) $ 55.16 $ 78.90 $ 70.13
Total unrecognized compensation expense $ 89    
Amount to be recognized as compensation expense year 2025 58    
Amount to be recognized as compensation expense year 2026 27    
Amount to be recognized as compensation expense year 2027 4    
Total fair value of Restricted Stock Awards vested during the period $ 141    
Minimum | Stock Options      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period 1 year    
Maximum | Stock Options      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period 5 years    
v3.25.0.1
Stock Compensation - Schedule of Option Activity (Details)
shares in Thousands
 12 Months Ended
Dec. 31, 2024
$ / shares
shares
Shares  
Shares under option at beginning of period (in shares) | shares 1,614
Shares under option, Exercised (in shares) | shares (567)
Shares under option at end of period (in shares) | shares 1,047
Shares under option, Exercisable | shares 1,047
Weighted-Average Exercise Price  
Weighted-average exercise price of Shares under option at beginning of period (in dollars per share) | $ / shares $ 37.11
Weighted-average exercise price of Shares under option, Exercised (in dollars per share) | $ / shares 44.38
Weighted-average exercise price of Shares under option at end of period (in dollars per share) | $ / shares 33.18
Weighted-average exercise price of Shares under option, Exercisable (in dollars per share) | $ / shares $ 33.18
v3.25.0.1
Stock Compensation - Schedule of Restricted Stock Awards And PSUs Activity (Details) - Restricted Stock Awards and PSUs - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Restricted Stock Awards and PSUs      
Restricted Stock Awards and PSU's, Non-vested at beginning of period (in shares) 5,332    
Restricted stock awards and PSU's, granted (in shares) 2,635 1,700 2,300
Restricted Stock Awards and PSU's, Vested (in shares) (2,396)    
Restricted Stock Awards and PSU's, Forfeited (in shares) (286)    
Restricted Stock Awards and PSU's, Non-vested at end of period (in shares) 5,285 5,332  
Weighted Average Grant-Date Fair Value Per Share      
Weighted average grant-date fair value of Restricted Stock Awards and PSU's, Non-vested at beginning of period (in dollars per share) $ 69.82    
Weighted average grant-date fair value of restricted stock awards and PSU's, granted (in dollars per share) 55.16 $ 78.90 $ 70.13
Weighted average grant-date fair value of Restricted Stock Awards and PSU's, Vested (in dollars per share) 58.70    
Weighted average grant-date fair value of Restricted Stock Awards and PSU's, Forfeited (in dollars per share) 67.19    
Weighted average grant-date fair value of Restricted Stock Awards and PSU's, Non-vested at end of period (in dollars per share) $ 68.77 $ 69.82  
v3.25.0.1
Other (Income) Expense - Net (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Other Income and Expenses [Abstract]      
Gains on sale of assets $ (27) $ (38) $ (78)
Other – net (224) (138) (280)
Other (income) expense $ (251) $ (176) $ (358)
v3.25.0.1
Other (Income) Expense - Net - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Other Nonoperating Income Expense [Line Items]      
Non-service components of net pension benefit income $ 18 $ 18 $ 25
Net foreign exchange gains 46 85 $ 105
Third party insurance recoveries 133    
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]     Other Nonoperating Income (Expense)
Other (income) expense - net $ 224 $ 138 $ 280
Ag Services and Oilseeds      
Other Nonoperating Income Expense [Line Items]      
Other (income) expense - net     110
Vantage Corn Processors      
Other Nonoperating Income Expense [Line Items]      
Other (income) expense - net     $ 50
v3.25.0.1
Income Taxes - Earnings Before Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
United States $ 656 $ 1,844 $ 2,725
Foreign 1,599 2,450 2,508
Earnings Before Income Taxes $ 2,255 $ 4,294 $ 5,233
v3.25.0.1
Income Taxes - Significant Components of Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Current expense      
Federal $ 108 $ 291 $ 379
State 8 47 97
Foreign 490 513 481
Current expense 606 851 957
Deferred expense (benefit)      
Federal (99) (52) 23
State 6 (10) 7
Foreign (37) 39 (119)
Deferred expense (benefit) (130) (23) (89)
Income tax expense $ 476 $ 828 $ 868
v3.25.0.1
Income Taxes - Significant Components of Deferred Tax Liabilities and Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Deferred tax liabilities    
Property, plant, and equipment $ 808 $ 827
Intangibles 343 358
Right of use assets 317 263
Equity in earnings of affiliates 236 214
Debt exchange 49 50
Reserves and other accruals 133 49
Other 30 137
Deferred tax liabilities 1,916 1,898
Deferred tax assets    
Pension and postretirement benefits 95 111
Inventories 12 20
Lease liabilities 323 268
Stock compensation 36 42
Foreign tax loss carryforwards 386 494
Capital loss carryforwards 41 42
State tax attributes 23 25
US carryforwards 196 27
Other 111 71
Gross deferred tax assets 1,223 1,100
Valuation allowances (223) (216)
Net deferred tax assets 1,000 884
Net deferred tax liabilities 916 1,014
The net deferred tax liabilities are classified as follows:    
Net deferred tax assets 1,000 884
Noncurrent liabilities (1,916) (1,898)
Net deferred tax liabilities (916) (1,014)
Domestic    
Deferred tax liabilities    
Deferred tax liabilities 1,268 1,309
The net deferred tax liabilities are classified as follows:    
Noncurrent liabilities (1,268) (1,309)
Foreign    
Deferred tax assets    
Capital loss carryforwards 41 41
Net deferred tax assets 352 295
The net deferred tax liabilities are classified as follows:    
Net deferred tax assets $ 352 $ 295
v3.25.0.1
Income Taxes - Additional Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Jul. 11, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2014
Income Taxes [Line Items]          
Tax assets related to net operating loss carry-forwards related to certain international subsidiaries   $ 386 $ 494    
Capital loss carryforwards   41 42    
Valuation allowance   223 216    
State tax attributes   $ 23 $ 25    
Foreign earnings, as a percentage to total foreign earnings   71.00% 57.00% 48.00%  
Remaining transition tax liability   $ 61      
Effective income tax rate reconciliation, GILTI, Amount   674 $ 425 $ 684  
Effective income tax rate reconciliation, FDII, Amount   16 77 $ 67  
Accrued interest and penalties on unrecognized tax benefits   59 52    
Positive impact on the tax expense if the total amount of unrecognized tax benefits were recognized by the Company at one time   183      
State Income Tax Assets          
Income Taxes [Line Items]          
Valuation allowance   16 14    
Foreign          
Income Taxes [Line Items]          
Operating loss carry-forwards with no expiration date   314      
Operating loss carry-forwards with expiration date   72      
Valuation allowance recorded against tax assets related to net operating loss carry-forwards related to certain international subsidiaries   166 160    
Capital loss carryforwards   41 41    
Foreign | Capital Loss Carryforward          
Income Taxes [Line Items]          
Valuation allowance   41 $ 41    
Domestic          
Income Taxes [Line Items]          
Operating loss carry-forwards with no expiration date   68      
Operating loss carryforwards   196      
Domestic | Expire Between 2029 and 2034          
Income Taxes [Line Items]          
Operating loss carry-forwards with expiration date   39      
Domestic | Expire in 2044          
Income Taxes [Line Items]          
Operating loss carry-forwards with expiration date   $ 89      
Netherlands          
Income Taxes [Line Items]          
Tax assessment $ 52       $ 122
v3.25.0.1
Income Taxes - Valuation Allowance (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Beginning of Year Balance $ 216 $ 209 $ 281
Additions 40 58 18
Deductions (33) (51) (90)
Balance at End of Year $ 223 $ 216 $ 209
v3.25.0.1
Income Taxes - Reconciliation of Statutory Federal Income Tax Rate to Effective Tax Rate on Earnings (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
US Federal Statutory rate 21.00% 21.00% 21.00%
State income taxes, net of federal tax benefit 0.20% 0.90% 1.40%
Foreign earnings taxed at rates other than the U.S. statutory rate 2.20% (0.30%) (3.80%)
Foreign currency effects/remeasurement (4.80%) 0.50% 0.60%
Withholding Tax 1.80% 0.10% 0.00%
Impairment of Investments 4.30% 0.50% 0.00%
Change in Uncertain Tax Position 3.20% 0.10% 0.50%
Tax benefit on U.S. biodiesel credits (2.90%) (1.70%) (1.20%)
Second-generation biofuel credit (1.20%) 0.00% 0.00%
U.S. railroad credits (2.50%) (1.50%) (1.20%)
U.S. tax on foreign earnings 0.60% 1.20% 0.20%
Other (0.80%) (1.50%) (0.90%)
Effective income tax rate 21.10% 19.30% 16.60%
v3.25.0.1
Income Taxes - Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]    
Opening balance, January 1 $ 168 $ 151
Net additions related to current year’s tax positions 12 2
Net additions related to prior years’ tax positions 57 28
Additions (adjustments) related to acquisitions 2 0
Reductions related to lapse of statute of limitations (6) (6)
Settlements with tax authorities (48) (7)
Ending balance, December 31 $ 185 $ 168
v3.25.0.1
Leases - Lease Cost and Other Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Lease, Cost [Abstract]      
Operating lease cost $ 410 $ 390 $ 356
Short-term lease cost 135 126 127
Total lease cost 545 516 483
Other information:      
Operating lease liability principal payments 397 374 339
Right-of-use assets obtained in exchange for new operating lease liabilities $ 437 $ 327 $ 357
Weighted-average remaining lease term - operating leases (in years) 7 years 7 years  
Weighted average discount rate - operating leases 4.50% 4.10%  
v3.25.0.1
Leases - Aggregate Future Lease Payments for Operating Leases (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Leases [Abstract]  
2025 $ 377
2026 284
2027 231
2028 180
2029 122
Thereafter 442
Total undiscounted minimum lease payments 1,636
Less: Interest (255)
Lease liability $ 1,381
v3.25.0.1
Employee Benefit Plans - Additional Information (Details) - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]    
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) 5.6  
Market value of employer's Common stock held under 401 (k) plan $ 282  
Cash dividend received on employer's common stock held under 401 (k) plan 11  
Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Prior service (credit) cost (30)  
Accumulated other comprehensive income, unrecognized actuarial losses 235  
Projected benefit obligation with projected benefit obligations 1,400 $ 1,500
Accumulated benefit obligation with projected benefit obligations 1,400 1,500
Fair value of plan assets for pension plans with projected benefit obligations 1,000 $ 1,000
Contributions and expected future benefit payments 25  
Postretirement Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Prior service (credit) cost 1  
Accumulated other comprehensive income, unrecognized actuarial losses $ 15  
Increase in annual rate 8.70%  
Annual rate for per capita cost of covered health care benefits assumed for 2031 and thereafter (as a percent) 4.50%  
Contributions and expected future benefit payments $ 13  
Minimum | Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Amortization period of actuarial gains and losses 4 years  
Minimum | Postretirement Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Amortization period of actuarial gains and losses 5 years  
Maximum | Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Amortization period of actuarial gains and losses 27 years  
Maximum | Postretirement Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Amortization period of actuarial gains and losses 18 years  
v3.25.0.1
Employee Benefit Plans - Schedule of Components of Retirement Plan Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]      
Total pre-tax comprehensive loss (income) $ (15) $ 88 $ (140)
Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Service cost (benefits earned during the period) $ 46 $ 41 $ 48
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Interest cost $ 79 $ 76 $ 48
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Expected return on plan assets $ (89) $ (83) $ (79)
Settlement charges 2 0 0
Curtailments $ 0 $ 0 $ (2)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Amortization of actuarial loss $ 5 $ 3 $ 17
Amortization of prior service cost (credit) (20) (20) (20)
Net periodic defined benefit plan expense 23 17 12
Defined contribution plans 76 73 67
Total retirement plan expense 99 90 79
Net actuarial loss (gain) (38) 46 (88)
Prior service cost 26 19 20
Total pre-tax comprehensive loss (income) (12) 65 (68)
Postretirement Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Service cost (benefits earned during the period) $ 0 $ 0 $ 1
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Interest cost $ 5 $ 6 $ 3
Expected return on plan assets 0 0 0
Settlement charges 0 0 0
Curtailments $ 0 $ 0 $ 0
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)
Amortization of actuarial loss $ 3 $ 2 $ 5
Amortization of prior service cost (credit) 0 0 0
Net periodic defined benefit plan expense 8 8 9
Defined contribution plans 0 0 0
Total retirement plan expense 8 8 9
Net actuarial loss (gain) (5) 4 (29)
Prior service cost 0 0 0
Total pre-tax comprehensive loss (income) $ (5) $ 4 $ (29)
v3.25.0.1
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, 2024
Dec. 31, 2023
Dec. 31, 2022
Pension Benefits      
Change in benefit obligations:      
Benefit obligation, beginning $ 1,765 $ 1,587  
Service cost 46 41 $ 48
Interest cost 79 76 48
Actuarial loss (gain) (111) 83  
Employee contributions 4 3  
Benefits paid (62) (53)  
Plan amendments 6 0  
Foreign currency effects and Other (54) 28  
Benefit obligation, ending 1,673 1,765 1,587
Change in plan assets      
Fair value of plan assets, beginning 1,415 1,269  
Actual return on plan assets 7 121  
Employer contributions 26 54  
Employee contributions 4 3  
Benefits paid (62) (53)  
Foreign currency effects and Other (39) 21  
Fair value of plan assets, ending 1,351 1,415 1,269
Funded status (322) (350)  
Amounts recognized in the Consolidated Balance Sheets consist of:      
Other assets (non-current) 68 63  
Accrued expenses and other payables (19) (19)  
Other long-term liabilities (371) (394)  
Net amount recognized in the Consolidated Balance Sheets (322) (350)  
Postretirement Benefits      
Change in benefit obligations:      
Benefit obligation, beginning 113 118  
Service cost 0 0 1
Interest cost 5 6 3
Actuarial loss (gain) (3) 6  
Employee contributions 0 0  
Benefits paid (14) (17)  
Plan amendments 0 0  
Foreign currency effects and Other 1 0  
Benefit obligation, ending 102 113 118
Change in plan assets      
Fair value of plan assets, beginning 0 0  
Actual return on plan assets 0 0  
Employer contributions 14 17  
Employee contributions 0 0  
Benefits paid (14) (17)  
Foreign currency effects and Other 0 0  
Fair value of plan assets, ending 0 0 $ 0
Funded status (102) (113)  
Amounts recognized in the Consolidated Balance Sheets consist of:      
Other assets (non-current) 0 0  
Accrued expenses and other payables (13) (14)  
Other long-term liabilities (89) (99)  
Net amount recognized in the Consolidated Balance Sheets $ (102) $ (113)  
v3.25.0.1
Employee Benefit Plans - Principal Assumptions in Developing Net Periodic Pension Cost (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Discount rate 4.50% 4.80%
Expected return on plan assets 6.00% 6.00%
Rate of compensation increase 4.80% 4.30%
Interest crediting rate 4.00% 3.90%
Postretirement Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Discount rate 4.90% 5.10%
v3.25.0.1
Employee Benefit Plans - Principal Assumptions in Developing Year-End Actuarial Present Value of Projected Benefit Obligation (Details)
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]    
Interest crediting rate 4.60% 4.00%
Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Discount rate 5.00% 4.50%
Rate of compensation increase 4.80% 4.80%
Postretirement Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Discount rate 5.50% 4.90%
v3.25.0.1
Employee Benefit Plans - Schedule of Fair Value of Plan Assets (Details) - Recurring - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets $ 1,351 $ 1,415
Fair Value, Inputs, Level 1, Level 2, and Level 3    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 903 934
Level 1    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 364 446
Level 2    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 539 488
Level 3    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 0 0
Common stock | Fair Value, Inputs, Level 1, Level 2, and Level 3    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 36 37
Common stock | Level 1    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 36 37
Common stock | Level 2    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 0 0
Common stock | Level 3    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 0 0
Mutual funds | Fair Value, Inputs, Level 1, Level 2, and Level 3    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 154 147
Mutual funds | Level 1    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 154 147
Mutual funds | Level 2    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 0 0
Mutual funds | Level 3    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 0 0
Corporate bonds | Fair Value, Inputs, Level 1, Level 2, and Level 3    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 517 473
Corporate bonds | Level 1    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 0 0
Corporate bonds | Level 2    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 517 473
Corporate bonds | Level 3    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 0 0
U.S. Treasury instruments | Fair Value, Inputs, Level 1, Level 2, and Level 3    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 161 262
U.S. Treasury instruments | Level 1    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 161 262
U.S. Treasury instruments | Level 2    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 0 0
U.S. Treasury instruments | Level 3    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 0 0
U.S. government agency, state and local government bonds | Fair Value, Inputs, Level 1, Level 2, and Level 3    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 4 8
U.S. government agency, state and local government bonds | Level 1    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 0 0
U.S. government agency, state and local government bonds | Level 2    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 4 8
U.S. government agency, state and local government bonds | Level 3    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 0 0
Other | Fair Value, Inputs, Level 1, Level 2, and Level 3    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 31 7
Other | Level 1    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 13 0
Other | Level 2    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 18 7
Other | Level 3    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 0 0
U.S. equity | NAV    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 30 15
International equity | NAV    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 67 60
Fixed income | NAV    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets 298 330
Other | NAV    
Defined Benefit Plan Disclosure [Line Items]    
Fair value of plan assets $ 53 $ 76
v3.25.0.1
Employee Benefit Plans - Actual Asset Allocation For Global Pension Plan Assets (Details) - Pension Benefits
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]    
Asset allocation 100.00% 100.00%
Percentage of U.S. pension plan to global pension plan assets (as a percent) 68.00%  
Equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Asset allocation 21.00% 19.00%
Debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Asset allocation 68.00% 77.00%
Other    
Defined Benefit Plan Disclosure [Line Items]    
Asset allocation 11.00% 4.00%
United States | Equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Asset allocation 23.00%  
United States | Debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Asset allocation 74.00%  
United States | Other    
Defined Benefit Plan Disclosure [Line Items]    
Asset allocation 3.00%  
Foreign | Equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Asset allocation 18.00%  
Foreign | Debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Asset allocation 56.00%  
Foreign | Other    
Defined Benefit Plan Disclosure [Line Items]    
Asset allocation 26.00%  
v3.25.0.1
Employee Benefit Plans - Expected Future Benefit Payments to be Paid (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Pension Benefits  
Defined Benefit Plan Disclosure [Line Items]  
2025 $ 76
2026 83
2027 89
2028 96
2029 102
2030-2034 590
Postretirement Benefits  
Defined Benefit Plan Disclosure [Line Items]  
2025 13
2026 12
2027 11
2028 10
2029 10
2030-2034 $ 39
v3.25.0.1
Shareholders' Equity - Additional Information (Details) - USD ($)
$ / shares in Units, $ in Billions
Dec. 31, 2024
Dec. 31, 2023
Shareholder's Equity [Line Items]    
Common stock authorized (in shares) 1,000,000,000  
Preferred stock authorized (in shares) 500,000  
Common stock par value (in dollars per share) $ 0  
Preferred stock par value (in dollars per share) $ 0  
Preferred stock issued (in shares) 0  
Treasury stock (in shares) 237,600,000 202,500,000
Treasury stock, value $ 2.3 $ 2.7
Common Stock    
Shareholder's Equity [Line Items]    
Treasury stock, value $ 4.8 $ 4.9
v3.25.0.1
Shareholders' Equity - AOCI (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Balance $ 24,145 $ 24,317 $ 22,508
Total other comprehensive income (loss), net of tax (501) 19 (357)
Balance 22,178 24,145 24,317
  Accumulated Other Comprehensive Income (Loss)      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Balance (2,487) (2,509) (2,172)
Other comprehensive income (loss) before reclassifications (768) 511 (236)
Gain (loss) from net investment hedges 192 (153) 328
Amounts reclassified from AOCI 119 (364) (329)
Tax effect (44) 28 (100)
Total other comprehensive income (loss), net of tax (501) 22 (337)
Balance (2,988) (2,487) (2,509)
  Foreign Currency Translation Adjustments      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Balance (2,539) (2,622) (2,248)
Other comprehensive income (loss) before reclassifications (607) 204 (609)
Gain (loss) from net investment hedges 192 (153) 328
Amounts reclassified from AOCI 0 0 0
Tax effect (45) 32 (93)
Total other comprehensive income (loss), net of tax (460) 83 (374)
Balance (2,999) (2,539) (2,622)
  Deferred Gain (Loss) on Hedging Activities      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Balance 158 148 225
Other comprehensive income (loss) before reclassifications (118) 337 268
Gain (loss) from net investment hedges 0 0
Amounts reclassified from AOCI 77 (322) (352)
Tax effect 9 (5) 7
Total other comprehensive income (loss), net of tax (32) 10 (77)
Balance 126 158 148
Pension and Other Postretirement Benefit Liabilities      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Balance (108) (22) (147)
Other comprehensive income (loss) before reclassifications (27) (46) 117
Gain (loss) from net investment hedges 0 0 0
Amounts reclassified from AOCI 42 (42) 23
Tax effect (7) 2 (15)
Total other comprehensive income (loss), net of tax 8 (86) 125
Balance (100) (108) (22)
  Unrealized Gain (Loss) on Investments      
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]      
Balance 2 (13) (2)
Other comprehensive income (loss) before reclassifications (16) 16 (12)
Gain (loss) from net investment hedges 0 0 0
Amounts reclassified from AOCI 0 0 0
Tax effect (1) (1) 1
Total other comprehensive income (loss), net of tax (17) 15 (11)
Balance $ (15) $ 2 $ (13)
v3.25.0.1
Shareholders' Equity - Reclassification out of AOCI (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]      
Revenues $ (85,530) $ (93,935) $ (101,556)
Earnings before income taxes (2,255) (4,294) (5,233)
Income tax expense 476 828 868
Net earnings (1,779) (3,466) (4,365)
Reclassification out of AOCI | Deferred loss (gain) on hedging activities      
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]      
Revenues 0 0 (1)
Cost of products sold 77 (322) (351)
Earnings before income taxes 77 (322) (352)
Income tax expense (20) 77 62
Net earnings $ 57 $ (245) $ (290)
v3.25.0.1
Segment and Geographic Information - Additional Information (Details)
 12 Months Ended
Dec. 31, 2024
segment
Segment Reporting [Abstract]  
Number of reportable segments 3
v3.25.0.1
Segment and Geographic Information - Segment Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Information      
Revenues $ 85,530 $ 93,935 $ 101,556
Selling, general, and administrative expenses 3,706 3,456 3,358
Asset impairment, restructuring, and net settlement contingencies (545) (342) (66)
Earnings Before Income Taxes 2,255 4,294 5,233
Depreciation expense 875 825 794
Amortization expense 266 234 234
Interest and investment income 562 499 293
Equity in earnings of unconsolidated affiliates 621 551 832
Impairment of intangible assets $ 43    
Impairment, Intangible Asset, Statement of Income or Comprehensive Income [Extensible Enumeration] Asset impairment, restructuring, and net settlement contingencies    
Wilmar      
Segment Information      
Equity method investment impairment $ 461    
Nutrition      
Segment Information      
Impairment of intangible assets   64 2
Intersegment revenue      
Segment Information      
Revenues 2,673 3,074 3,075
Intersegment revenue | Ag Services and Oilseeds      
Segment Information      
Revenues 1,716 2,108 2,045
Intersegment revenue | Carbohydrate Solutions      
Segment Information      
Revenues 889 918 968
Intersegment revenue | Nutrition      
Segment Information      
Revenues 68 48 62
Operating Segments      
Segment Information      
Revenues 85,099 93,511 101,160
Segment operating profit 4,209 5,869 6,482
Depreciation expense 832 786 761
Amortization expense 178 161 165
Interest and investment income 84 36 54
Equity in earnings of unconsolidated affiliates 630 556 831
Operating Segments | Ag Services and Oilseeds      
Segment Information      
Revenues 66,516 73,426 79,563
Cost of materials 60,378 65,751 72,464
Manufacturing costs 3,436 3,338 3,135
Selling, general, and administrative expenses 919 880 839
Other segment items (664) (610) (1,276)
Segment operating profit 2,447 4,067 4,401
Depreciation expense 376 350 334
Amortization expense 14 17 17
Interest and investment income 84 54 52
Equity in earnings of unconsolidated affiliates 474 459 714
Operating Segments | Carbohydrate Solutions      
Segment Information      
Revenues 11,234 12,874 13,961
Cost of materials 7,170 8,729 9,867
Manufacturing costs 2,592 2,550 2,522
Selling, general, and administrative expenses 326 323 338
Other segment items (230) (103) (179)
Segment operating profit 1,376 1,375 1,413
Depreciation expense 305 304 307
Amortization expense 6 8 9
Equity in earnings of unconsolidated affiliates 127 76 94
Operating Segments | Nutrition      
Segment Information      
Revenues 7,349 7,211 7,636
Cost of materials 4,651 4,608 4,900
Manufacturing costs 1,249 1,136 1,075
Selling, general, and administrative expenses 1,166 1,034 1,040
Other segment items (103) 6 (47)
Segment operating profit 386 427 668
Depreciation expense 151 132 120
Amortization expense 158 136 139
Interest and investment income 0 (18) 2
Equity in earnings of unconsolidated affiliates 29 21 23
Other Business      
Segment Information      
Revenues 431 424 396
Segment operating profit 247 375 167
Depreciation expense 9 10 9
Interest and investment income 463 499 185
Corporate      
Segment Information      
Segment operating profit (1,721) (1,606) (1,316)
Gains on sales of assets and businesses 10 17 47
Asset impairment, restructuring, and net settlement contingencies (490) (361) (147)
Depreciation expense 34 29 24
Amortization expense 88 73 69
Interest and investment income 15 (36) 54
Equity in earnings of unconsolidated affiliates $ (9) $ (5) $ 1
v3.25.0.1
Segment and Geographic Information - Geographic Information (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Information      
Revenues $ 85,530 $ 93,935 $ 101,556
Property, plant, and equipment, net 10,837 10,508  
ROU assets 1,358 1,211  
Total long-lived assets 12,195 11,719  
United States      
Segment Information      
Revenues 33,550 38,783 43,272
Property, plant, and equipment, net 6,965 6,660  
ROU assets 1,063 913  
Switzerland      
Segment Information      
Revenues 19,877 19,898 21,821
Cayman Islands      
Segment Information      
Revenues 5,603 7,646 5,883
Brazil      
Segment Information      
Revenues 3,353 3,361 4,004
Property, plant, and equipment, net 872 874  
Mexico      
Segment Information      
Revenues 3,209 3,185 3,709
Canada      
Segment Information      
Revenues 2,055 2,400 2,272
United Kingdom      
Segment Information      
Revenues 2,186 2,219 2,231
Other Foreign      
Segment Information      
Revenues 15,697 16,443 $ 18,364
Property, plant, and equipment, net 3,000 2,974  
ROU assets $ 295 $ 298  
v3.25.0.1
Asset Impairment, Exit, and Restructuring Costs - Asset Impairment Charges and Exit Costs (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Schedule Of Equity Method Investments [Line Items]      
Restructuring charges $ 26,000,000 $ 33,000,000 $ 29,000,000
Impairment charge - goodwill and other intangible assets 43,000,000 201,000,000 2,000,000
Impairment charge - other long-lived assets 476,000,000 108,000,000 35,000,000
Total asset impairment, exit, and restructuring costs 545,000,000 342,000,000 66,000,000
Impairment of intangible assets $ 43,000,000    
Goodwill impairment charge   $ 137,000,000 $ 0
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration] Total asset impairment, exit, and restructuring costs Total asset impairment, exit, and restructuring costs Total asset impairment, exit, and restructuring costs
Wilmar      
Schedule Of Equity Method Investments [Line Items]      
Equity method investment impairment $ 461,000,000    
Nutrition      
Schedule Of Equity Method Investments [Line Items]      
Impairment charge - other long-lived assets   $ 65,000,000 $ 20,000,000
Impairment of intangible assets   64,000,000 2,000,000
Ag Services and Oilseeds      
Schedule Of Equity Method Investments [Line Items]      
Impairment charge - other long-lived assets   10,000,000  
Carbohydrate Solutions      
Schedule Of Equity Method Investments [Line Items]      
Impairment charge - other long-lived assets   33,000,000 15,000,000
Corporate      
Schedule Of Equity Method Investments [Line Items]      
Restructuring charges 23,000,000 6,000,000 1,000,000
Total asset impairment, exit, and restructuring costs $ 490,000,000 361,000,000 147,000,000
Operating Segments      
Schedule Of Equity Method Investments [Line Items]      
Restructuring charges   27,000,000 $ 28,000,000
Operating Segments | Nutrition      
Schedule Of Equity Method Investments [Line Items]      
Goodwill impairment charge   137,000,000  
Operating Segments | Ag Services and Oilseeds      
Schedule Of Equity Method Investments [Line Items]      
Goodwill impairment charge   0  
Operating Segments | Carbohydrate Solutions      
Schedule Of Equity Method Investments [Line Items]      
Goodwill impairment charge   $ 0  
v3.25.0.1
Sale of Accounts Receivable (Details)
$ in Millions, € in Billions
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2024
EUR (€)
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]        
Maximum borrowing capacity $ 13,000      
Fair value of trade receivables derecognized 2,000 $ 1,600    
Amount of receivables sold 46,900 54,800 $ 59,000  
Proceeds from receivables sold 47,000 53,600 56,900  
Trade receivables - net 3,708 4,232    
Loss on sale of receivables 95 56 $ 21  
Asset Pledged as Collateral without Right        
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]        
Trade receivables - net 700 $ 1,100    
Accounts Receivable Securitization Facility        
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]        
Maximum borrowing capacity 2,800      
First Purchasers | Accounts Receivable Securitization Facility        
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]        
Maximum borrowing capacity 1,700      
Second Purchasers | Accounts Receivable Securitization Facility        
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]        
Maximum borrowing capacity $ 1,100     € 1.1
v3.25.0.1
Legal Proceedings (Details) - AOT and Maize
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Minimum  
Loss Contingencies [Line Items]  
Damages sought $ 500
Maximum  
Loss Contingencies [Line Items]  
Damages sought $ 2,000
v3.25.0.1
Subsequent Event (Details) - Subsequent Event - Vandamme Hugaria Kft
$ in Millions
Jan. 31, 2025
USD ($)
T
Subsequent Event [Line Items]  
Capacity of non-genetically modified crush and extraction facility acquired | T 700
Business combination, consideration amount | $ $ 123