Asset Impairment, Exit, and Restructuring Costs

12 Months Ended

Dec. 31, 2024

Restructuring, Settlement and Impairment Provisions [Abstract]

Asset Impairment, Exit, and Restructuring Costs

Asset Impairment, Exit, and Restructuring Costs

The following table sets forth the charges included in asset impairment, exit, and restructuring costs (in millions).

	Year Ended December 31
	2024		2023		2022
Restructuring and exit costs (1)	$	26	$	33	$	29
Impairment charge - goodwill and other intangible assets (2)	43		201		2
Impairment charge - other long-lived assets (3)	476		108		35
Total asset impairment, exit, and restructuring costs	$	545	$	342	$	66

(1)The year ended December 31, 2024 includes restructuring charges of $23 million, within Corporate, presented as a specified item. The year ended December 31, 2023 includes several individually insignificant restructuring charges totaling $27 million presented as specified items across the Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition segments, and $6 million within Corporate. The year ended December 31, 2022 includes several individually insignificant restructuring charges totaling $28 million presented as specified items and restructuring charges of $1 million within Corporate.

(2)The year ended December 31, 2024 includes impairments of discontinued Animal Nutrition trademarks of $43 million, within the Nutrition segment, presented as specified items. The year ended December 31, 2023 includes impairments related to goodwill of $137 million and customer list and discontinued Animal Nutrition trademarks totaling $64 million, within the Nutrition segment, presented as specified items. The year ended December 31, 2022 includes customer list impairment of $2 million, within the Nutrition segment presented as specified items.

(3)The year ended December 31, 2024 includes $461 million impairment charge related to the Company’s investment in Wilmar, within the Ag Services and Oilseeds segment, presented as a specified item. The year ended December 31, 2023 includes impairments related to certain long-lived assets of $10 million, $33 million, and $65 million, within the Ag Services and Oilseeds, Carbohydrate Solutions, and Nutrition segments, respectively, presented as specified items. The year ended December 31, 2022 includes impairments related to certain long-lived assets of $15 million and $20 million, within the Carbohydrate Solutions and Nutrition segments, respectively, presented as specified items.