XML 52 R38.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Accounts and Notes Receivable (Tables)
 3 Months Ended
Mar. 31, 2024
Accounts and Notes Receivable [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]
(In millions)March 31, 2024December 31, 2023March 31, 2023
Accounts receivable – trade1
$6,320 $4,210 $6,883 
Notes receivable – trade1,2
440 119 451 
Other3
1,146 1,159 1,344 
Total accounts and notes receivable - net$7,906 $5,488 $8,678 
1.Accounts and notes receivable - trade are net of allowances of $188 million, $205 million and $207 million at March 31, 2024, December 31, 2023 and March 31, 2023, 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 March 31, 2024, December 31, 2023 and March 31, 2023 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 current assets. In addition, Other includes amounts due from nonconsolidated affiliates of $125 million, $131 million and $137 million as of March 31, 2024, December 31, 2023 and March 31, 2023, respectively.
Accounts Receivable, Allowance for Credit Loss [Table Text Block]
(In millions)
2023
Balance at December 31, 2022$194 
Net provision for credit losses
10 
Other - net of write-offs charged against allowance
3 
Balance at March 31, 2023
$207 
2024
Balance at December 31, 2023$205 
Net provision for credit losses13 
Other - net of write-offs charged against allowance
(30)
Balance at March 31, 2024
$188