Accounts and Notes Receivable, Net

12 Months Ended

Dec. 31, 2011

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

Accounts and Notes Receivable, Net

ACCOUNTS AND NOTES RECEIVABLE, NET

December 31,	2011		2010
Accounts receivable – trade1	$	4,598	$	4,124
Notes receivable – trade1,2	207		219
Other3	1,217		1,292
	$	6,022	$	5,635

^1.  Accounts and notes receivable – trade are net of allowances of $292 in 2011 and $326 in 2010. Allowances are equal to the estimated uncollectible amounts. That estimate is based on historical collection experience, current economic and market conditions, and review of the current status of customer's accounts.

^2.  Notes receivable – trade primarily consists of receivables within the Agriculture segment for deferred payment loan programs for the sale of seed products to customers. These loans have terms of one year or less and are primarily concentrated in North America. The company maintains a rigid pre-approval process for extending credit to customers in order to manage overall risk and exposure associated with credit losses. As of December 31, 2011 and 2010, there were no significant past due notes receivable, nor were there any significant impairments related to current loan agreements.

^3.  Other includes receivables in relation to Cozaar^®/Hyzaar^® interests, fair value of derivative instruments, value added tax, general sales tax and other taxes.

Accounts and notes receivable are carried at amounts that approximate fair value.