Revenues Revenues (Tables)

9 Months Ended

Sep. 30, 2018

Disaggregation of Revenue [Table Text Block]

Disaggregation of Revenues

The following table presents revenue disaggregated by timing of recognition and major product lines for the three months ended September 30, 2018.



	Topic 606 Revenue						Topic 815⁽¹⁾		Total
	Point in Time		Over Time		Total		Revenue		Revenues
	(In millions)
Origination
Merchandising and Handling	$	396	$	57	$	453	$	5,333	$	5,786
Transportation	—		64		64		—		64
Total Origination	396		121		517		5,333		5,850
Oilseeds
Crushing and Origination	330		—		330		4,109		4,439
Refining, Packaging, Biodiesel, and Other	593		—		593		1,378		1,971
Total Oilseeds	923		—		923		5,487		6,410
Carbohydrate Solutions
Starches and Sweeteners	1,261		—		1,261		445		1,706
Bioproducts	828		—		828		—		828
Total Carbohydrate Solutions	2,089		—		2,089		445		2,534
Nutrition
Wild Flavors and Specialty Ingredients	641		—		641		—		641
Animal Nutrition	281		—		281		—		281
Total Nutrition	922		—		922		—		922

Other	84		—		84		—		84
Total Revenues	$	4,414	$	121	$	4,535	$	11,265	$	15,800

⁽¹⁾Topic 815 revenue relates to the physical delivery or the settlement of the Company’s sales contracts that are accounted for as derivatives and are outside the scope of Topic 606.

The following table presents revenue disaggregated by timing of recognition and major product lines for the nine months ended September 30, 2018.



	Topic 606 Revenue						Topic 815⁽¹⁾		Total
	Point in Time		Over Time		Total		Revenue		Revenues
	(In millions)
Origination
Merchandising and Handling	$	1,542	$	179	$	1,721	$	16,768	$	18,489
Transportation	—		182		182		—		182
Total Origination	1,542		361		1,903		16,768		18,671
Oilseeds
Crushing and Origination	647		—		647		12,225		12,872
Refining, Packaging, Biodiesel, and Other	1,787		—		1,787		4,101		5,888
Total Oilseeds	2,434		—		2,434		16,326		18,760
Carbohydrate Solutions
Starches and Sweeteners	3,699		—		3,699		1,349		5,048
Bioproducts	2,734		—		2,734		—		2,734
Total Carbohydrate Solutions	6,433		—		6,433		1,349		7,782
Nutrition
Wild Flavors and Specialty Ingredients	1,970		—		1,970		—		1,970
Animal Nutrition	920		—		920		—		920
Total Nutrition	2,890		—		2,890		—		2,890

Other	291		—		291		—		291
Total Revenues	$	13,590	$	361	$	13,951	$	34,443	$	48,394

⁽¹⁾Topic 815 revenue relates to the physical delivery or the settlement of the Company’s sales contracts that are accounted for as derivatives and are outside the scope of Topic 606.

Schedule of the financial statement transition impacts from the adoption of ASC 606 [Table Text Block]

The following tables summarize the impacts of Topic 606 adoption on the various lines of the Company’s consolidated financial statements.

Consolidated Balance Sheets (excerpt)



	January 1, 2018		September 30, 2018
	After Adoption		As		Under		Effect of
	of Topic 606		Reported		Topic 605		Change
	(In millions)
Assets
Trade receivables	$	2,343	$	1,934	$	1,675	$	259
Inventories	8,770		8,483		8,760		(277		)
Other current assets	3,175		3,707		3,713		(6		)
Total Current Assets	19,918		19,465		19,489		(24		)
Total Assets	$	39,956	$	39,664	$	39,688	$	(24	)
Liabilities, Temporary Equity, and Shareholders’ Equity
Accrued expenses and other payables	$	2,826	$	2,925	$	2,947	$	(22	)
Total Current Liabilities	12,563		11,648		11,670		(22		)
Reinvested earnings	17,552		18,478		18,480		(2		)
Total Shareholders’ Equity	18,322		19,000		19,002		(2		)
Total Liabilities, Temporary Equity, and Shareholders’ Equity	$	39,956	$	39,664	$	39,688	$	(24	)

Consolidated Statements of Earnings (excerpt)



	Three Months Ended						Nine Months Ended
	September 30, 2018						September 30, 2018
	As		Under		Effect of		As		Under		Effect of
	Reported		Topic 605		Change		Reported		Topic 605		Change
	(In millions)
Revenues	$	15,800	$	15,785	$	15	$	48,394	$	48,518	$	(124	)
Cost of products sold	14,742		14,729		13		45,266		45,388		(122		)
Gross profit	1,058		1,056		2		3,128		3,130		(2		)
Earnings before income taxes	632		630		2		1,748		1,750		(2		)
Income taxes	96		95		1		250		250		—
Net earnings including noncontrolling interests	536		535		1		1,498		1,500		(2		)
Net earnings attributable to controlling interests	536		535		1		1,495		1,497		(2		)