XML 30 R19.htm IDEA: XBRL DOCUMENT v3.22.2
Segment Information
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company’s operations are organized, managed, and classified into three reportable business segments: Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition. Each of these segments is organized based upon the nature of products and services offered. The Company’s remaining operations are not reportable segments, as defined by the applicable accounting standard, and are classified as Other Business.

Intersegment sales have been recorded at amounts approximating market. Operating profit for each segment is based on net sales less identifiable operating expenses. Also included in operating profit for each segment is equity in earnings of affiliates based on the equity method of accounting. Specified items included in total segment operating profit and certain corporate items are not allocated to the Company’s individual business segments because operating performance of each business segment is evaluated by management exclusive of these items. Corporate results principally include unallocated corporate expenses and interest expense net of interest income. Corporate results also include revaluation gains and losses on cost method investments and the share of the results of equity investments in early-stage start-up companies that ADM Ventures has investments in.

For more information about the Company’s business segments, refer to Note 17 of “Notes to Consolidated Financial Statements” included in Item 8, “Financial Statements and Supplementary Data” included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021.
Three Months EndedSix Months Ended
June 30,June 30,
(In millions)2022202120222021
Gross revenues    
Ag Services and Oilseeds$22,468 $18,799 $41,600 $34,738 
Carbohydrate Solutions4,500 3,271 8,680 5,905 
Nutrition2,055 1,793 4,021 3,417 
Other Business101 102 208 202 
Intersegment elimination(1,840)(1,039)(3,575)(2,443)
Total gross revenues$27,284 $22,926 $50,934 $41,819 
Intersegment sales    
Ag Services and Oilseeds$1,039 $528 $1,918 $1,460 
Carbohydrate Solutions749 451 1,563 862 
Nutrition52 60 94 121 
Total intersegment sales$1,840 $1,039 $3,575 $2,443 
Revenues from external customers    
Ag Services and Oilseeds
Ag Services $14,333 $12,815 $26,180 $22,961 
Crushing3,362 2,827 6,584 5,569 
Refined Products and Other3,734 2,629 6,918 4,748 
Total Ag Services and Oilseeds21,429 18,271 39,682 33,278 
Carbohydrate Solutions
Starches and Sweeteners2,519 1,846 5,017 3,591 
Vantage Corn Processors1,232 974 2,100 1,452 
Total Carbohydrate Solutions3,751 2,820 7,117 5,043 
Nutrition
Human Nutrition1,020 848 1,978 1,602 
Animal Nutrition983 885 1,949 1,694 
Total Nutrition2,003 1,733 3,927 3,296 
Other Business101 102 208 202 
Total revenues from external customers$27,284 $22,926 $50,934 $41,819 
Three Months EndedSix Months Ended
June 30,June 30,
(In millions)2022202120222021
Segment operating profit
Ag Services and Oilseeds$1,119 $570 $2,127 $1,347 
Carbohydrate Solutions473 383 790 642 
Nutrition239 201 428 355 
Other Business18 6 60 15 
Specified Items:
Gains on sales of assets and businesses(1)
— 22 1 22 
Impairment, restructuring, and settlement charges(2)
(9)(37)(27)(131)
Total segment operating profit1,840 1,145 3,379 2,250 
Corporate(321)(320)(589)(601)
Earnings before income taxes$1,519 $825 $2,790 $1,649 
(1) Consists of gains on the sale of certain assets in all periods presented.
(2) Current quarter and year-to-date charges related primarily to the impairment of certain Ukraine assets. Current year-to-date charges was partially offset by an insurance settlement. Prior quarter and year-to-date charges were related to the impairment of certain long-lived assets and restructuring. Prior year-to-date charges also included a legal settlement.