XML 85 R50.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Segment and Geographic Information (Tables)
 12 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract]  
Segment Information
Segment Information
 
Year Ended
(In millions)
December 31
 
2019
 
2018
 
2017
Gross revenues
 
 
 
 
 
Ag Services and Oilseeds
$
54,633

 
$
56,591

 
$
52,217

Carbohydrate Solutions
11,154

 
11,421

 
11,314

Nutrition
5,786

 
3,836

 
3,562

Other
352

 
381

 
387

Intersegment elimination
(7,269
)
 
(7,888
)
 
(6,652
)
Total
$
64,656

 
$
64,341

 
$
60,828

 
 
 
 
 
 
Intersegment revenues
 
 
 
 
 

Ag Services and Oilseeds
$
5,892

 
$
6,700

 
$
5,705

Carbohydrate Solutions
1,268

 
1,142

 
908

Nutrition
109

 
46

 
39

Total
$
7,269

 
$
7,888

 
$
6,652

 
 
 
 
 
 
Revenues from external customers
 
 
 
 
 
Ag Services and Oilseeds
 
 
 
 
 
Ag Services
$
31,705

 
$
31,766

 
$
29,124

Crushing
9,479

 
10,319

 
9,265

Refined Products and Other
7,557

 
7,806

 
8,123

Total Ag Services and Oilseeds
48,741

 
49,891

 
46,512

 
 
 
 
 
 
Carbohydrate Solutions
 
 
 
 
 
Starches and Sweeteners
6,692

 
6,696

 
6,565

Bioproducts
3,194

 
3,583

 
3,841

Total Carbohydrate Solutions
9,886

 
10,279

 
10,406

 
 
 
 
 
 
Nutrition
 
 
 
 
 
Wild Flavors and Specialty Ingredients
2,745

 
2,571

 
2,367

Animal Nutrition
2,932

 
1,219

 
1,156

Total Nutrition
5,677

 
3,790

 
3,523

 
 
 
 
 
 
Other
352

 
381

 
387

Total
$
64,656

 
$
64,341

 
$
60,828

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended
(In millions)
December 31
 
2019
 
2018
 
2017
Depreciation
 
 
 
 
 

Ag Services and Oilseeds
$
361

 
$
372

 
$
370

Carbohydrate Solutions
320

 
328

 
322

Nutrition
113

 
80

 
75

Other
6

 
6

 
6

Corporate
27

 
26

 
29

Total
$
827

 
$
812

 
$
802

 
 
 
 
 
 
Long-lived asset abandonments and write-downs(1)
 
 
 
 
 
Ag Services and Oilseeds
$
130

 
$
40

 
$
17

Carbohydrate Solutions
1

 
—

 
63

Nutrition
—

 
11

 
21

Corporate
—

 
49

 
—

Total
$
131

 
$
100

 
$
101

 
 
 
 
 
 
Interest income
 
 
 
 
 
Ag Services and Oilseeds
$
51

 
$
45

 
$
39

Carbohydrate Solutions
—

 
1

 
1

Nutrition
1

 
2

 
2

Other
125

 
100

 
57

Corporate
15

 
14

 
7

Total
$
192

 
$
162

 
$
106

 
 
 
 
 
 
Equity in earnings of affiliates
 
 
 
 
 
Ag Services and Oilseeds
$
378

 
$
421

 
$
391

Carbohydrate Solutions
60

 
62

 
78

Nutrition
17

 
17

 
14

Corporate
(1
)
 
18

 
(27
)
Total
$
454

 
$
518

 
$
456

 
 
 
 
 
 
(1) See Note 18 for total asset impairment, exit, and restructuring costs.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended
(In millions)
December 31
 
2019
 
2018
 
2017
Segment Operating Profit
 
 
 
 
 
Ag Services and Oilseeds
$
1,935

 
$
2,020

 
$
1,229

Carbohydrate Solutions
644

 
945

 
1,078

Nutrition
418

 
339

 
312

Other
85

 
58

 
51

Specified Items:
 
 
 
 
 
Gains on sales of assets and businesses(1)
12

 
13

 
22

Impairment, restructuring, exit, and settlement charges(2)
(146
)
 
(102
)
 
(160
)
Hedge timing effects(3)
—

 
—

 
4

Total segment operating profit
2,948

 
3,273

 
2,536

Corporate
(1,360
)
 
(1,213
)
 
(927
)
Earnings before income taxes
$
1,588

 
$
2,060

 
$
1,609

 
 
 
 
 
 
(1) The gains in 2019 consisted of a gain on the sale of certain assets and a step-up gain on an equity investment.The gains in 2018 related to the sale of businesses and assets. The gains in 2017 related to the sale of the crop risk services business and disposals of other individually insignificant assets in the ordinary course of business, partially offset by an adjustment of the proceeds of the 2015 sale of the cocoa business.

(2) The charges in 2019 primarily related to the impairment of certain long-lived assets.The charges in 2018 consisted of impairment of certain assets, restructuring, and settlement charges. The charges in 2017 consisted of asset impairments related to the closure of a facility and the reconfiguration of the Company’s Peoria, Illinois ethanol complex, settlement charges, and several individually insignificant asset impairments and restructuring charges.

(3) Hedge timing effects relate to hedge ineffectiveness associated with documented hedge programs.
(In millions)
December 31
 
2019
 
2018
Investments in and advances to affiliates
 
 
 
Ag Services and Oilseeds
$
4,662

 
$
4,549

Carbohydrate Solutions
363

 
375

Nutrition
98

 
63

Corporate
9

 
330

Total
$
5,132

 
$
5,317

 
 
 
 
Identifiable assets
 
 
 
Ag Services and Oilseeds
$
21,927

 
$
20,656

Carbohydrate Solutions
6,044

 
5,895

Nutrition
8,622

 
7,158

Other
5,661

 
5,131

Corporate
1,743

 
1,993

Total
$
43,997

 
$
40,833

 
 
 
 
(In millions)
December 31
 
2019
 
2018
Gross additions to property, plant, and equipment
 
 
 
Ag Services and Oilseeds
$
271

 
$
316

Carbohydrate Solutions
275

 
267

Nutrition
166

 
182

Other
2

 
3

Corporate
103

 
77

Total
$
817

 
$
845
Geographic Information
Geographic information:  The following geographic data include revenues attributed to the countries based on the location of the subsidiary making the sale and long-lived assets based on physical location.  Long-lived assets represent the net book value of property, plant, and equipment.
 
 
Year Ended
(In millions)
December 31
 
2019
 
2018
 
2017
Revenues
 
 
 
 
 
United States
$
27,509

 
$
28,726

 
$
27,894

Switzerland
13,016

 
12,911

 
14,095

Cayman Islands
4,374

 
5,724

 
4,189

Brazil
2,381

 
1,702

 
1,589

Germany
2,026

 
2,179

 
2,090

Other Foreign
15,350

 
13,099

 
10,971

 
$
64,656

 
$
64,341

 
$
60,828

 
 
 
 
 
 

(In millions)
December 31
 
2019
 
2018
Long-lived assets
 
 
 
United States
$
6,488

 
$
6,615

Brazil
869

 
802

Other Foreign
2,749

 
2,536

 
$
10,106

 
$
9,953