Accounts and Notes Receivable (Tables)

3 Months Ended

Mar. 31, 2020

Accounts and Notes Receivable [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

(In millions)	March 31, 2020		December 31, 2019		March 31, 2019
Accounts receivable – trade1	$	5,367	$	4,225	$	4,683
Notes receivable – trade2	412		171		377
Other3	996		1,132		1,447
Total accounts and notes receivable - net	$	6,775	$	5,528	$	6,507

^1.  Accounts receivable – trade is net of allowances of $203 million at March 31, 2020, $174 million at December 31, 2019, and $148 million at March 31, 2019. Allowances are equal to the estimated expected credit losses. The estimate at March 31, 2020 was developed using a loss-rate method. The estimate at December 31, 2019 and March 31, 2019 is based on historical collection experience, current economic and market conditions, and review of the current status of customers' accounts.

^2.  Notes receivable – trade primarily consists of receivables for deferred payment loan programs for the sale of seed products to customers. These loans have terms of one year or less and are primarily concentrated in North America. The company maintains a rigid pre-approval process for extending credit to customers in order to manage overall risk and exposure associated with credit losses. As of March 31, 2020, December 31, 2019, and March 31, 2019 there were no additional exposures requiring a reserve in excess of what is already reserved, nor were there any significant impairments related to current loan agreements.

^3. 

Other includes receivables in relation to indemnification assets, value added tax, general sales tax and other taxes. No individual group represents more than 10 percent of total receivables. In addition, Other includes amounts due from nonconsolidated affiliates of $140 million, $119 million, and $135 million as of March 31, 2020, December 31, 2019, and March 31, 2019, respectively.

Accounts Receivable, Allowance for Credit Loss [Table Text Block]

(In millions)
Balance at December 31, 2019	$	174
Additions charged to expenses	60
Write-offs charged against allowance	(1		)
Recoveries collected	(30		)
Balance at March 31, 2020	$	203