Accounts and Notes Receivable (Tables)

9 Months Ended

Sep. 30, 2023

Accounts and Notes Receivable [Abstract]

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

(In millions)	September 30, 2023		December 31, 2022		September 30, 2022
Accounts receivable – trade1	$	4,013	$	4,168	$	3,642
Notes receivable – trade1,2	1,307		93		1,233
Other3	1,261		1,440		1,398
Total accounts and notes receivable - net	$	6,581	$	5,701	$	6,273

1.Accounts receivable – trade and notes receivable - trade are net of allowances of $201 million, $194 million, and $213 million at September 30, 2023, December 31, 2022, and September 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 September 30, 2023, December 31, 2022, and September 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 $137 million, $148 million, and $132 million as of September 30, 2023, December 31, 2022, and September 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	4
Other - net of write-offs charged against allowance	(1)
Balance at September 30, 2022	$	213
2023
Balance at December 31, 2022	$	194
Net provision for credit losses	10
Other - net of write-offs charged against allowance	(3)
Balance at September 30, 2023	$	201