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Revenues Revenues
 9 Months Ended
Sep. 30, 2021
Revenues [Abstract]  
Revenues [Text Block] Revenues
Revenue Recognition

The Company principally generates revenue from merchandising and transporting agricultural commodities, and manufacturing products for use in food, beverages, feed, energy, and industrial applications, and ingredients and solutions for human and animal nutrition. Revenue is measured based on the consideration specified in the contract with a customer, and excludes any sales incentives and amounts collected on behalf of third parties. The Company follows a policy of recognizing revenue at a single point in time when it satisfies its performance obligation by transferring control over a product or service to a customer. The majority of the Company’s contracts with customers have one performance obligation and a contract duration of one year or less. The Company applies the practical expedient in paragraph 10-50-14 of ASC 606, Revenue from Contracts with Customers (Topic 606) and does not disclose information about remaining performance obligations that have original expected durations of one year or less. For transportation service contracts, the Company recognizes revenue over time as the barge, ocean-going vessel, truck, rail, or container freight moves towards its destination in accordance with the transfer of control guidance of Topic 606. The Company recognized revenue from transportation service contracts of $153 million and $408 million for the three and nine months ended September 30, 2021, respectively, and $87 million and $310 million for the three and nine months ended September 30, 2020, respectively. For physically settled derivative sales contracts that are outside the scope of Topic 606, the Company recognizes revenue when control of the inventory is transferred within the meaning of Topic 606 as required by ASC 610-20, Gains and Losses from the Derecognition of Nonfinancial Assets (Topic 610-20).
Shipping and Handling Costs

Shipping and handling costs related to contracts with customers for the sale of goods are accounted for as a fulfillment activity and are included in cost of products sold. Accordingly, amounts billed to customers for such costs are included as a component of revenues.
Taxes Collected from Customers and Remitted to Governmental Authorities
The Company does not include taxes assessed by governmental authorities that are (i) imposed on and concurrent with a specific revenue-producing transaction and (ii) collected from customers, in the measurement of transactions prices or as a component of revenues and cost of products sold.

Contract Liabilities

Contract liabilities relate to advance payments from customers for goods and services that the Company has yet to provide. Contract liabilities of $374 million and $626 million as of September 30, 2021 and December 31, 2020, respectively, were recorded in accrued expenses and other payables in the consolidated balance sheets. Contract liabilities recognized as revenues were $128 million and $697 million for the three and nine months ended September 30, 2021, respectively, and $121 million and $742 million for the three and nine months ended September 30, 2020, respectively.
Disaggregation of Revenues

The following tables present revenue disaggregated by timing of recognition and major product lines for the three and nine months ended September 30, 2021 and 2020.

Three Months Ended September 30, 2021
Topic 606 Revenue
Topic 815(1)
Total
Point in TimeOver TimeTotalRevenueRevenues
(In millions)
Ag Services and Oilseeds
Ag Services$616 $153 $769 $9,130 $9,899 
Crushing119 — 119 2,723 2,842 
Refined Products and Other657 — 657 2,291 2,948 
Total Ag Services and Oilseeds1,392 153 1,545 14,144 15,689 
Carbohydrate Solutions
Starches and Sweeteners1,516 — 1,516 456 1,972 
Vantage Corn Processors894 — 894 — 894 
Total Carbohydrate Solutions2,410 — 2,410 456 2,866 
Nutrition
Human Nutrition808 — 808 — 808 
Animal Nutrition889 — 889 — 889 
Total Nutrition1,697 — 1,697 — 1,697 
Other Business88 — 88 — 88 
Total Revenues$5,587 $153 $5,740 $14,600 $20,340 
Nine Months Ended September 30, 2021
Topic 606 Revenue
Topic 815(1)
Total
Point in TimeOver TimeTotalRevenueRevenues
(In millions)
Ag Services and Oilseeds
Ag Services$2,080 $408 $2,488 $30,372 $32,860 
Crushing335 — 335 8,076 8,411 
Refined Products and Other1,828 — 1,828 5,868 7,696 
Total Ag Services and Oilseeds4,243 408 4,651 44,316 48,967 
Carbohydrate Solutions
Starches and Sweeteners4,326 — 4,326 1,237 5,563 
Vantage Corn Processors2,346 — 2,346 — 2,346 
Total Carbohydrate Solutions6,672 — 6,672 1,237 7,909 
Nutrition
Human Nutrition2,410 — 2,410 — 2,410 
Animal Nutrition2,583 — 2,583 — 2,583 
Total Nutrition4,993 — 4,993 — 4,993 
Other Business290 — 290 — 290 
Total Revenues$16,198 $408 $16,606 $45,553 $62,159 
Three Months Ended September 30, 2020
Topic 606 Revenue
Topic 815(1)
Total
Point in TimeOver TimeTotalRevenueRevenues
(In millions)
Ag Services and Oilseeds
Ag Services$776 $87 $863 $6,489 $7,352 
Crushing113 — 113 2,204 2,317 
Refined Products and Other462 — 462 1,396 1,858 
Total Ag Services and Oilseeds1,351 87 1,438 10,089 11,527 
Carbohydrate Solutions
Starches and Sweeteners1,162 — 1,162 412 1,574 
Vantage Corn Processors490 — 490 — 490 
Total Carbohydrate Solutions1,652 — 1,652 412 2,064 
Nutrition
Human Nutrition719 — 719 — 719 
Animal Nutrition732 — 732 — 732 
Total Nutrition1,451 — 1,451 — 1,451 
Other Business84 — 84 — 84 
Total Revenues$4,538 $87 $4,625 $10,501 $15,126 
Nine Months Ended September 30, 2020
Topic 606 Revenue
Topic 815(1)
Total
Point in TimeOver TimeTotalRevenueRevenues
(In millions)
Ag Services and Oilseeds
Ag Services$2,504 $310 $2,814 $20,116 $22,930 
Crushing493 — 493 6,542 7,035 
Refined Products and Other1,501 — 1,501 3,881 5,382 
Total Ag Services and Oilseeds4,498 310 4,808 30,539 35,347 
Carbohydrate Solutions
Starches and Sweeteners3,539 — 3,539 1,230 4,769 
Vantage Corn Processors1,625 — 1,625 — 1,625 
Total Carbohydrate Solutions5,164 — 5,164 1,230 6,394 
Nutrition
Human Nutrition2,161 — 2,161 — 2,161 
Animal Nutrition2,198 — 2,198 — 2,198 
Total Nutrition4,359 — 4,359 — 4,359 
Other Business277 — 277 — 277 
Total Revenues$14,298 $310 $14,608 $31,769 $46,377 

(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.

Ag Services and Oilseeds

The Ag Services and Oilseeds segment generates revenue from the sale of commodities, from service fees for the transportation of goods, from the sale of products manufactured in its global processing facilities, and from its structured trade finance activities. Revenue is measured based on the consideration specified in the contract and excludes any sales incentives and amounts collected on behalf of third parties. Revenue is recognized when a performance obligation is satisfied by transferring control over a product or providing service to a customer. For transportation service contracts, the Company recognizes revenue over time as the barge, ocean-going vessel, truck, rail, or container freight moves towards its destination in accordance with the transfer of control guidance of Topic 606. The amount of revenue recognized follows the contractually specified price which may include freight or other contractually specified cost components. For physically settled derivative sales contracts that are outside the scope of Topic 606, the Company recognizes revenue when control of the inventory is transferred within the meaning of Topic 606 as required by Topic 610-20.

Carbohydrate Solutions

The Carbohydrate Solutions segment generates revenue from the sale of products manufactured at the Company’s global corn and wheat milling facilities around the world. Revenue is recognized when control over products is transferred to the customer. Products are shipped to customers from the Company’s various facilities and from its network of storage terminals. The amount of revenue recognized is based on the consideration specified in the contract which could include freight and other costs depending on the specific shipping terms of each contract. For physically settled derivative sales contracts that are outside the scope of Topic 606, the Company recognizes revenue when control of the inventory is transferred within the meaning of Topic 606 as required by Topic 610-20.
Nutrition

The Nutrition segment sells a wide array of ingredients and solutions including plant-based proteins, natural flavors, flavor systems, natural colors, emulsifiers, soluble fiber, polyols, hydrocolloids, probiotics, prebiotics, enzymes, botanical extracts, edible beans, formula feeds, animal health and nutrition products, pet food and treats, and other specialty food and feed ingredients. Revenue is recognized when control over products is transferred to the customer. The amount of revenue recognized follows the contracted price or the mutually agreed price of the product. Freight and shipping are recognized as a component of revenue at the same time control transfers to the customer.

Other Business

Other Business includes the Company’s futures commission business whose primary sources of revenue are commissions and brokerage income generated from executing orders and clearing futures contracts and options on futures contracts on behalf of its customers. Commissions and brokerage revenue are recognized on the date the transaction is executed. Other Business also includes the Company’s captive insurance business which generates third party revenue through its proportionate share of premiums from third-party reinsurance pools. Reinsurance premiums are recognized on a straight-line basis over the period underlying the policy.