Other Current Assets (Tables)

3 Months Ended

Mar. 31, 2020

Other Assets [Abstract]

Other Current Assets

The following table sets forth the items in other current assets:

	March 31,		December 31,
	2020		2019
	(In millions)
Unrealized gains on derivative contracts	$	1,326	$	619
Deferred receivables consideration	496		446
Customer omnibus receivable	997		1,014
Financing receivables - net (1)	458		395
Insurance premiums receivable	21		41
Prepaid expenses	302		318
Biodiesel tax credit	75		541
Tax receivables	576		579
Non-trade receivables (2)	401		369
Other current assets	395		278
	$	5,047	$	4,600

⁽¹⁾ The Company provides financing to certain suppliers, primarily Brazilian farmers, to finance a portion of the suppliers’ production costs. The amounts are reported net of allowances of $5 million and $3 million at March 31, 2020 and December 31, 2019, respectively. Interest earned on financing receivables of $8 million for the three months ended March 31, 2020 and 2019, is included in interest income in the consolidated statements of earnings.

⁽²⁾ Non-trade receivables included $78 million and $81 million of reinsurance recoverables as of March 31, 2020 and December 31, 2019, respectively.