Asset Impairment, Exit, and Restructuring Costs (Tables)

3 Months Ended

Mar. 31, 2025

Restructuring, Settlement and Impairment Provisions [Abstract]

Schedule of Asset Impairment, Exit, and Restructuring Costs

The following table sets forth the charges for the three months ended March 31, 2025 and 2024 (in millions).

	Three Months Ended March 31,
	2025		2024
Restructuring and exit costs (1)	$	38	$	15
Impairment charge - other long-lived assets (2)	—		3
Total asset impairment, exit, and restructuring costs	$	38	$	18

(1)On February 4, 2025, the Company announced a restructuring program that is expected to deliver in excess of $500 million of cost savings by fiscal 2029. The restructuring program has several initiatives including improvements in manufacturing costs, reductions in purchased materials and services, and targeted workforce reductions, and is designed to help the Company achieve cost efficiencies. The three months ended March 31, 2025 included restructuring charges (primarily employee termination benefits) of $23 million, $5 million, $4 million, and $4 million within the Ag Services and Oilseeds segment, Carbohydrate Solutions segment, Nutrition segment, and Corporate, respectively, presented as specified items. The three months ended March 31, 2024 included restructuring charges of $3 million and $12 million within the Nutrition segment and Corporate, respectively, both presented as specified items.

(2)The three months ended March 31, 2024 included impairments related to certain long-lived assets of $3 million within the Nutrition segment, presented as a specified item.