XML 52 R40.htm IDEA: XBRL DOCUMENT v3.23.2
Accounts and Notes Receivable (Tables)
6 Months Ended
Jun. 30, 2023
Accounts and Notes Receivable [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]
(In millions)June 30, 2023December 31, 2022June 30, 2022
Accounts receivable – trade1
$5,248 $4,168 $4,457 
Notes receivable – trade1,2
1,327 93 1,305 
Other3
1,380 1,440 1,185 
Total accounts and notes receivable - net$7,955 $5,701 $6,947 
1.Accounts receivable – trade and notes receivable - trade are net of allowances of $206 million, $194 million, and $233 million at June 30, 2023, December 31, 2022, and June 30, 2022, respectively.
2.Notes receivable – trade primarily consists of receivables for deferred payment loan programs for the sale of seed and chemical products to customers. These loans have terms of one year or less and are primarily concentrated in North America. The company maintains a rigid approval process for extending credit to customers in order to manage overall risk and exposure associated with credit losses. As of June 30, 2023, December 31, 2022, and June 30, 2022 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 5 percent of total receivables. In addition, Other includes amounts due from nonconsolidated affiliates of $139 million, $148 million, and $131 million as of June 30, 2023, December 31, 2022, and June 30, 2022, respectively.
Accounts Receivable, Allowance for Credit Loss [Table Text Block]
(In millions)
2022
Balance at December 31, 2021$210 
Net provision for credit losses
12 
Other - Net of write-offs charged against allowance
11 
Balance at June 30, 2022
$233 
2023
Balance at December 31, 2022$194 
Net provision for credit losses
Other - net of write-offs charged against allowance
Balance at June 30, 2023
$206