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